wsjfinance-markets – Page 2

Hermès Shines in a Scruffy Luxury Market

30Dec

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Money

Hermès Shines in a Scruffy Luxury Market

Hermès is a brand that shows its real mettle in a downturn. The secret to its steady growth might be the restraint it shows in good times. The French handbag maker’s shares gained 33% in 2023, making it the luxury sector’s best-performing stock. Parisian rival LVMH Moët Hennessy Louis Vuitton, which owns Christian Dior and is also considered one of the safest bets in luxury, rose 8%. But across the industry, most large European luxury stocks ended 2023 in the red as demand for expensive baubles sputtered following a record three-year shopping binge. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Nasdaq Beats NYSE in IPO Race for Fifth Year in a Row

30Dec

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World

Nasdaq Beats NYSE in IPO Race for Fifth Year in a Row

Updated Dec. 29, 2023 6:39 pm ETNasdaq beat the New York Stock Exchange in the battle for initial public offerings in 2023, the fifth consecutive year in which the once-dominant NYSE has fallen behind its rival.IPOs at Nasdaq have raised $13.7 billion compared with $10.4 billion for new listings at the NYSE, according to data provider Dealogic. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

The Fed Alone Can’t Make Gold Sparkle in 2024

29Dec

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Money

The Fed Alone Can’t Make Gold Sparkle in 2024

Updated Dec. 29, 2023 4:23 pm ETOn the fifth day of Christmas my true love sent to me: five gold rings, which turned out to be much more expensive than a year ago. The key investment question is whether they will be worth even more by the time next Christmas comes around.New York gold futures closed at $2,062.40 an ounce Friday, ending the year with a 13.34% gain and very near the record close of $2,081.90 reached Wednesday. This snaps a two-year losing streak.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Hollywood’s Box Office Recovery Needs Rewrite

29Dec

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Money

Hollywood’s Box Office Recovery Needs Rewrite

2023 may be over, but Hollywood’s painful reckoning isn’t—especially at the box office. This year’s holiday season has largely been a lump of coal for the movie industry. Domestic box office receipts for the season starting the first week of November have barely crossed the $1 billion mark. That is actually below the same period in each of the past two years, which had been helped by the release of mega-blockbusters like “Avatar: The Way of Water” and “Spider-Man: No Way Home.” It is also less than half the $2.3 billion average for the holiday season in the prepandemic years of 2015 to 2019, according to Box Office Mojo. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Why Oil Prices Never Surged to $100 This Year

29Dec

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Money

Why Oil Prices Never Surged to $100 This Year

Travelers, truckers and shippers worldwide can thank the U.S. for helping keep a lid on oil and gasoline prices this year.A year ago, Wall Street analysts were predicting the international benchmark for oil prices would surge from around $85 a barrel to well over $100 in 2023. Instead, Brent crude will likely enter 2024 slightly cheaper than where it started this year, though experts warn any spread in global instability could drive it higher. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

29Dec

By adminNo Comments

World

Why Oil Prices Never Surged to $100 This Year

Travelers, truckers and shippers worldwide can thank the U.S. for helping keep a lid on oil and gasoline prices this year.A year ago, Wall Street analysts were predicting the international benchmark for oil prices would surge from around $85 a barrel to well over $100 in 2023. Instead, Brent crude will likely enter 2024 slightly cheaper than where it started this year, though experts warn any spread in global instability could drive it higher. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

29Dec

By adminNo Comments

Money

Carmakers Are Drowning in Cash

Most carmakers are ending the year with lots of cash and lots of worries. Share buybacks are an antidepressant, not a cure, but they are better than nothing.It has been a highly profitable year for the traditional car industry. Production recovered following the microchip-related supply constraints of 2021 and 2022. Having previously been starved of inventory, consumers and fleet owners bought new vehicles despite higher interest rates. Globally, sales are on track to rise 10% this year, according to forecasting firm GlobalData.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

29Dec

By adminNo Comments

World

Hollywood’s Box Office Recovery Needs Rewrite

2023 may be over, but Hollywood’s painful reckoning isn’t—especially at the box office. This year’s holiday season has largely been a lump of coal for the movie industry. Domestic box office receipts for the season starting the first week of November have barely crossed the $1 billion mark. That is actually below the same period in each of the past two years, which had been helped by the release of mega-blockbusters like “Avatar: The Way of Water” and “Spider-Man: No Way Home.” It is also less than half the $2.3 billion average for the holiday season in the prepandemic years of 2015 to 2019, according to Box Office Mojo. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

29Dec

By adminNo Comments

Money

2024 Could Be the Year of the Yen

The Japanese yen has been one of the worst performing currencies of the past couple of years. It could do better in 2024.The yen has lost around 20% against the dollar since the end of 2021, underperforming other major currencies. Japan’s central bank kept its ultralow interest rates while most of its peers have been raising rates aggressively. Higher yields outside of Japan have driven the currency lower and lower.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

What Did Wall Street Get Right About Markets This Year? Not Much

29Dec

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Money

What Did Wall Street Get Right About Markets This Year? Not Much

Updated Dec. 29, 2023 12:07 am ETAlmost no one thought 2023 would be a blockbuster year for stocks. They could hardly have been more wrong. The Federal Reserve raised interest rates at the fastest clip since the 1980s, a regional banking crisis felled Silicon Valley Bank, and war broke out in the Middle East. Yet stocks kept climbing. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8