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Global stocks close in on 4-week highs, oil rises on hopes of ‘soft landing’

By David Randall NEW YORK (Reuters) -World stocks rallied on Monday to their highest levels since mid-December after China reopened its borders while benchmark Treasury yields drifted lower as investors scaled back expectations for further rate hikes by the Federal Reserve. The gains were broad across global equity markets, with Europe’s STOXX 600 near a …

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Seattle public schools blame tech giants for social media harm in lawsuit

(Reuters) -Seattle’s public school district filed a lawsuit against Big Tech claiming that the companies were responsible for a worsening mental health crisis among students and directly affected the schools’ ability to carry out their educational mission. The complaint, filed on Friday against Alphabet Inc, Meta Platforms Inc, Snap Inc and TikTok-owner ByteDance with the …

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U.S. Supreme Court rejects Republican bid to defend Trump immigration rule

By John Kruzel WASHINGTON (Reuters) – The U.S. Supreme Court on Monday rebuffed an effort by a group of Republican state officials to revive former President Donald Trump’s hardline policy that barred certain immigrants deemed likely to require government benefits from gaining lawful permanent residency. The justices turned away an appeal by 14 Republican state …

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Dollar at 7-month low vs euro on slower Fed rate hike expectations

By John McCrank NEW YORK (Reuters) -The U.S. dollar on Monday slid to a seven-month low against the euro as traders bet recent economic data would prompt the Federal Reserve to slow the pace of interest rate hikes, while riskier currencies benefited from China reopening its borders. The euro was up 0.96% at $1.0747 at …

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Oil rises over 1% on demand optimism as China reopens borders

By Stephanie Kelly NEW YORK (Reuters) -Oil prices rose over 1% on Monday after China’s reopened borders boosted the outlook for fuel demand and overshadowed global recession concerns. The rally was part of a wider boost for risk sentiment supported by both the reopening of the world’s biggest crude importer and hopes for less-aggressive increases …

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India detects all Omicron sub-variants in country, no rise in mortality

NEW DELHI (Reuters) – India has detected the presence of all Omicron sub-variants of COVID-19 in the community after testing more than 300 samples since late December, the health ministry said in a statement on Monday. “No mortality or rise in transmission were reported in the areas where these variants were detected,” the ministry said. …

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Biden visits U.S.-Mexico border as immigration issue heats up

By Jarrett Renshaw and Andrea Shalal EL PASO, Texas (Reuters) -President Joe Biden visited the U.S.-Mexico border on Sunday for the first time since taking office, tackling one of the most politically charged issues in the country as he prepares for a re-election bid. Accompanied by Border Patrol agents, Biden toured a section of the …

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U.S. Postal Service delivered at least 54.4 million ballots during 2022 election

By David Shepardson WASHINGTON (Reuters) -The U.S. Postal Service (USPS) on Monday said it delivered more than 54.4 million ballots from voters to election officials during the 2022 midterm general election, with almost 99% reaching their destination within three days. The total delivered through the U.S. mail between Sept. 6 and Dec. 6 includes the …

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Johannesburg Stock Exchange hits all-time high, rand firms

By Anait Miridzhanian and Rachel Savage JOHANNESBURG (Reuters) -The Johannesburg Stock Exchange hit an all-time high on Monday as South African technology and mining stocks gained on enthusiasm about China reopening its borders and hopes the U.S. Federal Reserve may slow the pace of interest rate hikes. The all-share index rose to as high as …

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Fed has ‘difficult’ call to avoid overdoing rates shock, Romer says

By Howard Schneider NEW ORLEANS (Reuters) -The Federal Reserve’s effort to shock the economy back to lower inflation is in its early days, making it tough for the U.S. central bank to avoid overdoing it with higher-than-needed interest rates, a top economic adviser in the Obama White House said after a fresh review of Fed …

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