Year: 2023
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History shows strong 2023 could keep US stocks on path for 2024 gains
By Lewis Krauskopf NEW YORK (Reuters) -The U.S. stock market’s hefty gains in 2023 could provide a lift for equities next year, if history is any guide. The S&P 500 ended the year on Friday with an annual gain of just over 24%. The benchmark index also stood near its first record closing high in…
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Oil prices shed 10% in 2023 as supply, demand concerns weigh
By Nicole Jao NEW YORK (Reuters) -Crude futures lost over 10% in 2023 in a tumultuous year of trading marked by geopolitical turmoil and concerns about the oil output levels of major producers around the world. Brent crude on Friday, the last trading day of the year, settled at $77.04 a barrel, down 11 cents…
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Judge certifies Johnson & Johnson shareholder class action over talc disclosures
By Jonathan Stempel NEW YORK (Reuters) -A federal judge said Johnson & Johnson shareholders may pursue as a class action their lawsuit accusing the company of fraudulently concealing how its talc products were contaminated by cancer-causing asbestos. U.S. District Judge Zahid Quraishi in Trenton, New Jersey, on Friday allowed shareholders from Feb. 22, 2013, to…
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Fuel maker XCF Global Capital to go public in $1.75-billion SPAC deal
(Reuters) – XCF Global Capital has agreed to go public via a merger with special purpose acquisition company (SPAC) Focus Impact BH3 Acquisition, in a deal that values the sustainable fuels producer at $1.75 billion, the SPAC said on Friday. New York-based XCF Global, which owns multiple facilities in North America, produces renewable diesel and…
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U.S. drivers hope for lower pump prices in 2024 as gasoline stocks climb
By Shariq Khan (Reuters) – American drivers can expect lower motor fuel costs for a second-straight year in 2024 as a jump in global refining capacity and a surplus in U.S. gasoline stocks drive down retail prices, according to analysts’ forecasts. The U.S. national average retail gasoline price could drop by 13 cents next year…
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STOXX 600 ends 2023 up 12.6% on rate cut optimism, Italy best performer
By Shashwat Chauhan and Bansari Mayur Kamdar (Reuters) -European shares ended 2023 with an annual gain of almost 13% on hopes of softer monetary policy from major central banks next year. The pan-European STOXX 600 edged up 0.1% on Friday, posting its seventh straight weekly gain and its best December performance since 2021. It closed…
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Gold to enter 2024 with sights set on record highs
By Deep Kaushik Vakil (Reuters) – Gold investors anticipate record high prices next year, when the fundamentals of a dovish pivot in U.S. interest rates, continued geopolitical risk, and central bank buying are expected to support the market after a volatile 2023. Spot gold is on track to post a 13% annual rise in 2023,…
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Boeing says Chinese airlines resumed operating all 737 MAXs in 2023
BEIJING/SEOUL (Reuters) -All Boeing 737 MAX jets operated by Chinese carriers are back in service at the end of 2023, the U.S. planemaker’s China head said on Friday, nearly a year after they started flying following a global grounding in 2019. The best-selling Boeing model was grounded after fatal crashes in Indonesia and Ethiopia. The…
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Higher forever? Markets see few rate cuts after 2024
By Yoruk Bahceli (Reuters) – Borrowers looking for relief from higher interest rates may be set for disappointment with financial markets indicating rates will stay elevated for years to come. However much they fall in 2024, pricing in money markets highlights a view that the decade of near-zero interest rates prevailing after the great financial…
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Google settles $5 billion consumer privacy lawsuit
By Jonathan Stempel (Reuters) – Alphabet’s Google has agreed to settle a lawsuit claiming it secretly tracked the internet use of millions of people who thought they were doing their browsing privately. U.S. District Judge Yvonne Gonzalez Rogers in Oakland, California, put a scheduled Feb. 5, 2024 trial in the proposed class action on hold…