Stocks close lower to open 2023, but finish off the lowest levels of the day
U.S. stocks finished lower Tuesday, booking losses on the first...
U.S. stocks finished lower Tuesday, booking losses on the first trading session of 2023 after wrapping up the worst year since 2008.The Dow Jones Industrial Average DJIA ended down less than 0.1%, while the S&P 500 SPX fell 0.4% and the technology-heavy Nasdaq Composite COMP slid 0.8%, according to preliminary data from FactSet. In economic data released Tuesday, the S&P Global U.S. Manufacturing Purchasing Managers' Index suggested factory activity in December contracted for a second straight month. International Monetary Fund chief Kristalina Georgieva warned in an interview on the CBS Sunday morning news program "Face the Nation" that 2023 was going to be tougher on the global economy than 2022.
‘Rogue Russia’ is 2023’s most dangerous threat: Eurasia Group
An isolated and humiliated Russia is the biggest danger of 2023, political-risk consulting firm Eurasia...
An isolated and humiliated Russia is the biggest danger of 2023, political-risk consulting firm Eurasia Group said Tuesday, unveiling its annual list of top geopolitical risks.
“A humiliated Russia will turn from a global player into the world’s most dangerous rogue state, posing a serious security threat to Europe, the United States, and beyond,” wrote Ian Bremmer, Eurasia Group’s president, and founder, and Cliff Kupchan, the firm’s chairman, in the report.
The energy sector kicked off 2023 mixed to lower, pressured by weakness...
The energy sector kicked off 2023 mixed to lower, pressured by weakness in the underlying commodities but supported by low conviction strength in the major equity futures.
WTI and Brent crude oil futures are lower in early trading, weighed down by weak demand data out of China and a gloomy economic outlook. The Chinese government raised export quotas for refined oil products in the first batch for 2023, with traders attributing the increase to expectations of poor domestic demand amid the waves of COVID-19 infections. In further bearish news, China's factory activity shrank in December as surging infections rates disrupted production, also dampening demand. Adding to the gloomy economic outlook, IMF Managing Director Kristalina Georgieva said on Sunday that the United States, Europe and China - the main engines of global growth - were all slowing simultaneously, making 2023 tougher than 2022 for the global economy.
Natural gas futures are down a further 9% to start the year, as warmer forecasts drove the front month lower for the fourth-consecutive session.
South Korea fines Tesla $2.2 million for exaggerating driving range of EVs
SEOUL (Reuters) - South Korea's antitrust regulator said it would impose a 2.85 billion won ($2.2 million)...
SEOUL (Reuters) - South Korea's antitrust regulator said it would impose a 2.85 billion won ($2.2 million) fine on Tesla Inc for failing to tell its customers about the shorter driving range of its electric vehicles (EVs) in low temperatures.
The Korea Fair Trade Commission (KFTC) said that Tesla had exaggerated the "driving ranges of its cars on a single charge, their fuel cost-effectiveness compared to gasoline vehicles as well as the performance of its Superchargers" on its official local website since August 2019 until recently.
The driving range of the U.S. EV manufacturer's cars plunge in cold weather by up to 50.5% versus how they are advertised online, the KFTC said in a statement on Tuesday.
U.S. stocks open higher to start 2023 on a bullish note
US stock futures rise early Tuesday — an upbeat sign for the first trading day of...
US stock futures rise early Tuesday — an upbeat sign for the first trading day of 2023 after markets closed out last year with their worst losses since 2008. Investors are now bracing for the release of Fed minutes and the monthly jobs report later this week. Here are the latest market moves.
The S&P 500 SPX, 0.28% advanced almost 29 points, or 0.7%, to 3,868.
The Dow Jones Industrial Average DJIA, 0.03% gained 144 points, or 0.4%, to 33,291.
The Nasdaq Composite COMP, 2.58% climbed 123 points, or 1.1%, to 10,590.
Earnings on deck: Pasofino Gold, Lotus Ventures, and more, all reporting.
