Top related persons:
Top related locs:
Top related orgs:

Search resuls for: "Chelsey Dulaney"


25 mentions found


This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/global-stocks-markets-dow-news-05-29-2023-3f4173a1
Turkey Faces Financial Reckoning After Election
  + stars: | 2023-05-16 | by ( Chelsey Dulaney | Jared Malsin | ) www.wsj.com   time to read: 1 min
Turkey’s Recep Tayyip Erdogan will face opposition candidate Kemal Kilicdaroglu in the second round of the presidential election on May 28 after neither won Sunday’s first round. WSJ’s Jared Malsin explains what’s at stake. Photo: Jeff J Mitchell/Getty ImagesThe winner of this month’s Turkish presidential election will have to reckon with a dangerously lopsided economy that investors and economists say has veered close to the edge of financial stability. Turkey will hold a runoff election on May 28 after neither President Recep Tayyip Erdogan nor opposition candidate Kemal Kilicdaroglu secured the 50% of the vote required to clench the presidency. Mr. Erdogan emerged with a convincing lead in the first round, a surprise after he trailed in polls in the days before Sunday’s vote.
The Air Has Come Out of the Dollar
  + stars: | 2023-05-01 | by ( Chelsey Dulaney | ) www.wsj.com   time to read: 1 min
The dollar has fallen about 8.6% from a peak in September amid its worst start to the year since 2018. Photo: Joe Raedle/Getty ImagesThe U.S. economy no longer looks so exceptional. That is bad news for the dollar. The greenback has fallen about 8.6% from a peak in September, as tracked by the WSJ Dollar Index, and is experiencing its worst start to the year since 2018.
Microsoft shares’ rise Wednesday helped the Nasdaq Composite stay positive on the day. Photo: Lucy Nicholson/REUTERSTech companies including Microsoft Corp. were among the stock market’s few bright spots Wednesday, as investors digested corporate earnings that offered mixed messages about the state of the U.S. economy. Major indexes on Wednesday morning clawed back some of the previous day’s losses before edging lower leading to the closing bell. The technology-heavy Nasdaq Composite rose 0.5% while the S&P 500 dipped 0.4% and the Dow Jones Industrial Average ticked 0.7%, or 229 points, lower.
European Banks Say Goodbye to Easy Money
  + stars: | 2023-04-19 | by ( Chelsey Dulaney | ) www.wsj.com   time to read: 1 min
Photo: Hannah McKay/ReutersA $1.2 trillion liquidity crunch looms for Europe’s lenders, testing their ability to stand on their own after more than a decade of easy money from the European Central Bank. The biggest hurdle will come in late June, when banks will have to pay back about 478 billion euros, equivalent to some $525 billion, of ultracheap loans to the central bank. Those loans were handed out at the height of the pandemic to ensure banks kept lending as lockdowns brought business to a halt.
Stocks Muted Amid Rush of Earnings
  + stars: | 2023-04-19 | by ( Caitlin Ostroff | Chelsey Dulaney | ) www.wsj.com   time to read: 1 min
Stocks were muted Wednesday as another heavy day of corporate earnings got under way, with companies broadly posting results that have beaten analysts’ expectations. The S&P 500 and the tech-heavy Nasdaq Composite ended the day flat while the Dow Jones Industrial Average ticked down 0.2%, or 79.62 points.
Stocks Slide Even as Big Banks Rally
  + stars: | 2023-04-14 | by ( David Uberti | Chelsey Dulaney | ) www.wsj.com   time to read: 1 min
Big banks were among the few bright spots in stock markets Friday after posting stronger-than-expected earnings, though executives warned that recent stress in the financial sector is darkening their outlook for the U.S. economy. Major indexes fell after a Federal Reserve official said that inflation remained stubbornly high and that the central bank needs to continue raising interest rates to slow the pace of lending. Data released this week showed that inflation eased in March but that underlying price pressures persisted.
U.S. stocks and gold prices rose Thursday after data showed U.S. producer prices unexpectedly fell in March, adding to optimism that inflation is easing. The S&P 500 gained 54.27 points, or 1.3%, to 4146.22, while the Dow Jones Industrial Average rose 383.19 points, or 1.1%, to 34029.69. The tech-heavy Nasdaq Composite rose 236.93 points, or 2%, to 12166.27.
Russia’s Ruble Slides on Capital-Flight Fears
  + stars: | 2023-04-06 | by ( Chelsey Dulaney | ) www.wsj.com   time to read: 1 min
The Russian ruble fell Thursday to its lowest level in a year as Moscow’s weakening oil revenues and fears over capital flight weigh on the currency. The ruble was recently down 1.7% against the U.S. dollar and was on track for its lowest closing level since April 21, 2022, with 81.6 rubles buying $1. The currency has fallen 4.4% this week against the dollar and 5.2% against the euro. The ruble’s weakness runs counter to a broader trend among global currencies, which have gained against the dollar in recent weeks.
Stocks Jump, Led by Growth Shares
  + stars: | 2023-03-29 | by ( Eric Wallerstein | Chelsey Dulaney | ) www.wsj.com   time to read: 1 min
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/global-stocks-markets-dow-update-03-29-2023-bd8d495
Russia’s economy, restricted from Western financial networks and the U.S. dollar, has embraced a burgeoning alternative: the Chinese yuan. Energy exporters are increasingly getting paid in yuan. Russia’s sovereign-wealth fund, a war chest to support government spending burdened by battlefield costs in Ukraine, is using the Chinese currency to store its oil riches. Russian companies have borrowed in yuan, also known as renminbi, and households are stashing savings in it.
A rebound in shares of fast-growing technology firms helped U.S. stock indexes eke out gains Monday after logging their worst week of the year. Consumer discretionary, industrial and information technology shares led the S&P 500 higher, while so-called safety stocks in utilities, healthcare and consumer staples declined.
Emerging-Market Rally Runs Out of Steam
  + stars: | 2023-02-15 | by ( Chelsey Dulaney | ) www.wsj.com   time to read: 1 min
A blistering rally that lifted emerging-market stocks and bonds in recent months may be running out of steam, as concerns resurface about tighter U.S. monetary policy. The strength of the U.S. economy continues to defy expectations, with data this month showing price pressures remain stubbornly high and the labor market is still strong. That has prompted investors to increase bets that U.S. rates will peak above 5% and stay there for longer, in turn testing demand for investments ranging from Chilean bonds to Thai stocks.
Dow Industrials Slip After U.S. Inflation Data
  + stars: | 2023-02-14 | by ( Chelsey Dulaney | Akane Otani | ) www.wsj.com   time to read: 1 min
The Dow Jones Industrial Average edged lower Tuesday after data showed inflation cooled, but remained hot enough to keep the Federal Reserve on track for further interest-rate increases. The Dow lost 156.66 points, or 0.5%, to 34089.27. The broad-based S&P 500 was roughly flat, falling 1.16 points, or less than 0.1%, to 4136.13, erasing earlier gains.
Europe’s major central banks raised their key interest rates by 0.5 percentage point but diverged from the Federal Reserve and each other on their likely next moves, reflecting economic uncertainty amid uneven growth and inflation in the region and the rapid reopening of China’s economy. The European Central Bank on Thursday raised its key rate to 2.5%, its fifth large increase in a row, and signaled it would enact another half-point rate increase in March. That leaves the ECB some way behind the Fed, which raised rates to 4.5% to 4.75% on Wednesday, and the Bank of England, which increased rates by a half percentage point to 4% earlier Thursday.
Some parts of the global bond market roared back to life in January, with sales of new debt securities off to a record start in Europe and across emerging markets. Emerging-market governments such as Mexico, Saudi Arabia and Mongolia issued $61 billion of international bonds in January, smashing the previous high for the month of January of $41 billion, according to data from Refinitiv going back to 1970.
Trade between China and Russia boomed last year, providing a lifeline to Russia’s beleaguered economy and showing the limits of Western sanctions, according to a new report. Moscow ramped up imports of technologies critical to its war in Ukraine including semiconductors and microchips from China, the report by the DC-based nongovernmental organization Free Russia Foundation said. China’s increased purchases of Russian exports, driven by energy sales, more than offset the declines from major Western trading partners including the U.S., U.K. and some European Union countries.
S&P 500 Jumps After Three Days of Losses
  + stars: | 2023-01-21 | by ( Chelsey Dulaney | Corrie Driebusch | ) www.wsj.com   time to read: 1 min
Stocks rose Friday, boosted by some solid corporate earnings, though two major indexes finished the week with losses after being weighed down by concerns about a slowing economy. The S&P 500 index rose 73.76 points, or 1.9%, to 3972.61, its first up day after three days of declines. The Nasdaq Composite gained 288.17 points, or 2.7%, to 11140.43, led higher by shares of Netflix and Alphabet. The Dow Jones Industrial Average was up 330.93 points, or 1%, to 33375.49.
The Russian ruble is showing signs of weakness after a confounding rally that made it one of 2022’s best-performing currencies. Its direction from here will be an indicator of how Russia’s economy is holding up under an intensifying raft of Western sanctions. The ruble has fallen 12% against the dollar since the start of December, cutting its gains from the past year roughly in half. The currency began to slide last month after a European Union oil embargo went into effect alongside a U.S.-led effort to cap the price for Russian crude at $60 a barrel.
The U.S. dollar’s rally in 2022 gave the world a reminder of the currency’s ability to inflict pain on the global economy. Investors are optimistic that the dollar’s strength has now run its course. As of Dec. 28, the dollar has risen 8.9% this year as measured by the WSJ Dollar Index, which tracks its value against 16 other currencies. That would mark its biggest yearly rise since 2014. The index peaked in late September at the highest level in data going back to 2001.
Investors are bracing for European governments, led by Germany, to flood the market with new debt next year as they spend heavily to shield their economies from high energy costs. Governments in Europe are expected to increase bond issuance by 10% to €1.2 trillion in 2023, equivalent to around $1.27 trillion, according to data from Danske Bank A/S that covers 13 countries. That comes as the European Central Bank steps back from its role as a voracious buyer of eurozone government bonds, with plans to start shrinking its bond portfolio starting in March.
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/global-stocks-markets-dow-update-12-19-2022-11671450367
U.S. Stocks Mixed as Investors Weigh Recession Risks
  + stars: | 2022-12-19 | by ( Chelsey Dulaney | ) www.wsj.com   time to read: 1 min
U.S. stocks were mixed shortly after the opening bell on Monday as recession fears continued to weigh on investors. The S&P 500 fell less than 0.1% and the Dow Jones Industrial Average rose 56 points, or 0.1%. The Nasdaq Composite dropped 0.2%.
U.S. stocks slipped Monday, dragged lower by shares of everything from banks to technology companies. Major indexes are on track to end December lower, a somewhat unusual occurrence. The S&P 500 has risen in 73% of Decembers since 1928, according to Dow Jones Market Data. As of Monday’s close, the S&P 500 had fallen 6.4% in December.
Poor Countries Feel Sting of Local-Currency Debt
  + stars: | 2022-12-04 | by ( Chelsey Dulaney | ) www.wsj.com   time to read: 1 min
Some of the world’s poorest economies embraced borrowing in their own currencies as a shield from painful swings in the U.S. dollar. Now that strategy may be coming back to bite. Debt issued by emerging-market governments and companies in their local currency reached $12.5 trillion in 2021, according to data from Bank of America that excludes China’s enormous borrowings in the yuan. That compares with $4 trillion in foreign-currency debt.
Total: 25