By Pete Schroeder WASHINGTON (Reuters) – U.S. stocks were volatile Thursday as investors awaited Friday’s monthly U.S. jobs report, while oil continued to rise on announced big supply cuts from OPEC+. U.S. stocks wavered between positive and negative territory as investors grappled with murky economic data offering conflicting views on how much interest rates hikes…
FRANKFURT, Germany (AP) — Major oil-producing countries led by Saudi Arabia and Russia have decided to slash the amount of oil they deliver to the global economy. And the law of supply and demand suggests that can only mean one thing: higher prices are on the way for crude, and for the diesel fuel, gasoline…
By Laila Kearney NEW YORK (Reuters) -Oil prices held at three-week highs on Thursday after OPEC+ agreed to tighten global crude supply with a deal to cut production targets by 2 million barrel per day (bpd), the largest reduction since 2020. Brent crude futures gained 88 cents, or 0.9%, to $94.25 per barrel by 11:19…
By Ankika Biswas and Shreyashi Sanyal (Reuters) – Wall Street’s main indexes fell on Thursday on worries about persistent inflation and the Federal Reserve’s aggressive rate-hike cycle, while shares of Tesla fell on worries over funding for Elon Musk’s proposed buyout of Twitter. Before dropping, markets briefly took comfort from data which showed an increase…
NEW YORK (AP) — Amazon will hire 150,000 full-time, part-time and seasonal employees across its warehouses ahead of the holiday season. The announcement, made Thursday, shows the e-commerce behemoth is taking a less conservative approach to its holiday planning than Walmart, which said last month it would hire 40,000 U.S. workers for the holidays, compared…
WASHINGTON (AP) — Average long-term U.S. mortgage rates ticked down modestly this week after six straight weeks of gains pushed rates to heights not seen in more than a decade, before a crash in the housing market triggered the Great Recession in 2008. Mortgage buyer Freddie Mac reported Thursday that the average on the key…
PRAGUE (AP) — The leaders of historic foes Turkey and Armenia on Thursday held their first face-to-face meeting since the two countries agreed to improve relations. Turkish President Recep Tayyip Erdogan and Prime Minister Nikol Pashinyan met in Prague on the sidelines of a summit by the leaders of 44 countries to launch a European…
By Ahmad Ghaddar LONDON (Reuters) – Oil prices held near three-week highs on Thursday after OPEC+ agreed to tighten global crude supply with a deal to cut production targets by 2 million barrel per day (bpd), the largest reduction since 2020. Brent crude futures gained 15 cents, or 0.2%, to $93.52 per barrel by 1340…
Peloton is looking to trim hundreds of jobs as the company continues to reorganize its business which has stalled as the coronavirus-related surge fades. The maker of high-end exercise equipment plans to cut approximately 500 jobs, or about 12% of its workforce. “A key aspect of Peloton’s transformation journey is optimizing efficiencies and implementing cost…
WASHINGTON (AP) — More Americans filed for unemployment benefits last week, the largest number in four months, but the labor market remains strong in the face of persistent inflation and a slowing overall U.S. economy. Jobless claims for the week ending Oct. 1 rose by 29,000 to 219,000, the Labor Department reported Thursday. The previous…
