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US stocks rose Thursday after the Fed meeting and as investors eyed Apple earnings. Expectations heading into Apple earnings are mixed, with analysts seeing a tough period for the iPhone maker. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementUS stocks rose Thursday morning following Wednesday's Federal Reserve meeting and as traders geared up for Apple earnings after the closing bell. Expectations are for the tech firm to report revenue of $90.33 billion and earnings per share $1.50.
Persons: , Jerome Powell, Powell Organizations: Apple, Service, Reserve, Labor Department, Dow, Nasdaq
Treasury yields rise ahead of Fed meeting
  + stars: | 2024-04-30 | by ( Sophie Kiderlin | In | ) www.cnbc.com   time to read: +1 min
ET, the yield on the 10-year Treasury was up by around two basis points to 4.6343%. The 2-year Treasury yield was last at 4.9809% after rising by less than one basis point. U.S. Treasury yields were slightly higher on Tuesday as investors looked to economic data for hints about the state of the economy ahead of the Federal Reserve's meeting. Investors awaited economic data and looked to the Federal Reserve's meeting, which is due to begin Tuesday and conclude Wednesday with a fresh interest rate decision and press conference. Last week, the personal consumption expenditures price index, the Fed's favored inflation gauge, came in slightly above expectations for March.
Organizations: Treasury, Investors, Headline
S&P 500 futures inched higher Sunday night as the broad index came off its best week in several months. Traders are looking ahead to a week with more corporate earnings, key labor data and a Federal Reserve meeting. The S&P 500 jumped 2.7%, notching its best week since November and breaking a three-week negative streak. "However, during the past few weeks, the driver of rates has shifted from better growth tohawkish monetary policy concerns, which has been more difficult for stocks to digest." Monetary policy will take center stage later in the week, with the Fed set to release its latest interest rate announcement on Wednesday.
Persons: David Kostin, Goldman Sachs, Jerome Powell, April's nonfarm Organizations: New York Stock Exchange, Traders, Federal Reserve, Dow Jones Industrial, Nasdaq, Dow, Apple Locations: April's
Stubbornly higher prices across multiple key categories of goods and services are expected to at least keep the inflation rate steady — and possibly even push levels up. That would put the respective annual inflation rates at 5%, essentially unchanged from March , and 5.5%, down just 0.1 percentage point. With inflation rising rapidly around this same time in 2022, the year-over-year comparisons should make the annual rate go down. "We continue to project inflation will ease over the course of the year with the headline CPI inflation dropping considerably in May and June as a result of base effects," UBS economist Jonathan Pringle wrote. April's nonfarm payrolls report also showed that average hourly earnings increased 0.5% on the month and 4.4% annually, both higher than expected.
Treasury yields climb ahead of key jobs report
  + stars: | 2023-05-05 | by ( Sophie Kiderlin | In | ) www.cnbc.com   time to read: +1 min
ET, the yield on the 10-year Treasury was up by around three basis points to 3.3823%. The 2-year Treasury was last trading at 3.8022% after rising by over seven basis points, recouping some of Thursday's losses . U.S. Treasury yields rose on Friday as investors awaited key labor market data and assessed the outlook for the economy, and especially the financial sector. Treasury yields had declined on Thursday as concerns about a banking crisis re-emerged, prompting many investors to seek out traditionally safer assets like government bonds. Economists surveyed by Dow Jones are expecting the report to show that 180,000 jobs have been added and the unemployment rate to have risen to 3.6%.
Yen set to snap 3-week losing streak on bank jitters, dollar slips
  + stars: | 2023-05-05 | by ( ) www.cnbc.com   time to read: +3 min
A bundle of Japanese 10,000 yen banknotes on a tray arranged at a branch of Resona Bank Ltd. in Tokyo, Japan. "The Japanese yen has slowly gained back its appeal of safe haven status, and has definitely been supported by concerns about U.S. regional banks and the associated safe-haven demand," Kong said. A deepening crisis across U.S. regional banks have kept investors on tenterhooks, with pressure growing on U.S. regulators to take more steps to shore up the sector. "For the Fed's June decision, inflation data and employment indicators ... along with bank lending standards will be key to watch. Down Under, the Australian dollar rose 0.26% to $0.6711, while the kiwi NZD=D3 touched a three-week high of $0.6311.
Although ECB President Christine Lagarde signalled more tightening to come, markets pared back their expectations on how much further rates would rise. Traders have since priced in more aggressive rate cuts from the Fed, with Fed funds futures implying a small chance that cuts could come as soon as June and through to the end of the year. The Aussie and the kiwi were among the largest beneficiaries of the sliding dollar, each rising more than 0.5% and touching multi-week highs. "For the Fed's June decision, inflation data and employment indicators ... along with bank lending standards will be key to watch. The Australian dollar was last up 0.62% at $0.6735, after touching a two-week peak earlier in the session.
In a busy week of economic reports, investor Stephanie Link is focusing her attention on key jobs data – including April's nonfarm payrolls. "Initial claims, I think, is going to be even more important because they have been increasing," she said Tuesday. Link added that 370,000 is a "recessionary level" for initial jobless claims. Separately, Link is looking ahead to Apple 's earnings report, due on Thursday after the market's close. Link added that she sees Apple announcing an $80 billion stock buyback program while dividends increase by 5%.
The yield on the 10-year Treasury was trading around 3.467% at 4.40 a.m. The 2-year Treasury yield was flat at 4.066%. The Fed is expected to announce a 25-basis point interest rate hike Wednesday at the conclusion of its meeting. Investors are particularly interested in any guidance on how long rates will remain elevated and when rate cuts could get underway. On Monday, ISM manufacturing data, construction spending and S&P Global manufacturing PMI are due.
U.S. stock futures were flat in overnight trading Sunday after the major averages logged gains for April, and the Dow Jones Industrial Average notched its best month since January. Futures tied to the Dow dipped 30 points, while S&P 500 and Nasdaq-100 futures each inched 0.1% lower. The Nasdaq Composite advanced 0.69% as Big Tech earnings took center stage. For the month, the Dow gained 2.5% to notch its best monthly stretch since January, while the benchmark index gained 1.5%. "There was definitely a very positive surprise on the big tech earnings," said Jan Szilagyi, CEO of Toggle AI.
"Is Chairman Powell going to say, 'It is likely that we pause now and assess what the economy is going to do?' "The tone on that balance is going to be very critical to how the market is going to move next week." "What is [Powell] going to do? June Fed meeting The betting on Wall Street right now is that, after next week, the Fed will standpat at its next meeting six weeks later, on June 13-14. Beyond Apple, some 161 other companies in the S & P 500 index are scheduled to report latest-quarter results next week.
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