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Hope for smaller rate rises to lift Wall Street, oil gains

LONDON, Aug 11 (Reuters) – Wall Street headed for another day of gains on Thursday as investors banked on peaking inflation persuading central banks to dial back on their anticipated interest rate hikes in September. The prospect of less aggressive tightening in borrowing costs sent the dollar lower, while oil prices rallied after the International …

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Dollar drops on cooler-than-expected U.S. inflation data

U.S. One dollar banknotes are seen in front of displayed stock graph in this illustration taken, February 8, 2021. REUTERS/Dado Ruvic/Illustration/ Register now for FREE unlimited access to Reuters.com Register NEW YORK, Aug 10 (Reuters) – The dollar fell broadly on Wednesday following a cooler-than-expected U.S. inflation report for July that raised expectations of a …

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Aluminium foundry fights for survival in European gas crisis

Family-owned aluminium foundry trials new shift pattern Plan to maintain production and reduce gas usage Carmakers warn output cuts inevitable if suppliers close New gas-free technologies will take years to scale up Suppliers need more help to innovate, industry says SOLTAU, Germany, Aug 9 (Reuters) – Shouting over the clanging of machinery, Gerd Roeders is …

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Shrinking U.S. cattle herd signals more pain from high beef prices

Cuts of meat are seen for sale at a butcher shop in Manhattan, New York City, U.S., August 8, 2022. REUTERS/Andrew Kelly Register now for FREE unlimited access to Reuters.com Register CHICAGO, Aug 9 (Reuters) – U.S. consumers grappling with soaring inflation face more pain from high beef prices as ranchers are reducing their cattle …

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Oil drops with dollar on recession fears; Wall Street ends mixed

Oil hits pre-Ukraine lows as demand outlook worsens Bank of England expects recession throughout 2023 Treasury yield curve inversion deepens Dollar drops; sterling slides against euro OTTAWA, Aug 4 (Reuters) – Crude oil sank with Treasury yields and the dollar on Thursday as recession worries intensified following the Bank of England’s warning of a drawn-out …

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Wall Street rallies on economic data, crude falls as stockpiles jump

NEW YORK, Aug 3 (Reuters) – U.S. stocks jumped to a sharply higher close and Treasury yields touched two-week highs on Wednesday as robust economic data, upbeat corporate guidance and easing geopolitical concerns boosted investor risk appetite. Front-month crude futures dropped following a report that U.S. stockpiles of crude and gasoline unexpectedly surged last week. …

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