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☆ Wall St mixed, dollar gains after inflation data
▼ + stars: | 2023-08-31 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 29, 2023. European shares reversed earlier gains to close lower as falling consumer staples and luxury stocks offset gains in financials and real estate. Emerging market stocks lost 0.78%. The dollar index (.DXY) rose 0.41%, with the euro down 0.71% to $1.0846. U.S. Treasury yields were last a bit lower in choppy trading after data reinforced expectations that the Fed will hold interest rates steady in September.

Persons: Brendan McDermid, Dow, Joseph Sroka, we’ve, Sroka, Brent, Stephen Culp, David Evans, Nick Zieminski Organizations: New York Stock Exchange, REUTERS, Federal Reserve, Nasdaq, Commerce, PCE, CPI, PPI, Fed, Dow Jones, Japan's Nikkei, European Central Bank, Treasury, Thomson Locations: New York City, U.S, Atlanta, financials, Asia, Pacific, Japan, OPEC

☆ S&P 500 ends higher, Treasury yields touch three-month high on solid US economic data
▼ + stars: | 2023-06-29 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

[1/3] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., June 29, 2023. Financials (.SPSY) led the gainers after the Federal Reserve's stress test showed U.S. lenders have adequate capital to weather an economic storm. Treasury yields rose, with 10-year yields touching their highest level since early March after economic reports painted a picture of a solid U.S. economy, promoting the "higher for longer" scenario with respect to restrictive monetary policy. The dollar touched a two-week high against a basket of world currencies as upbeat economic data provided cushion to the Fed to continue raising rates. Oil prices posted modest gains as the solid economic data suggested strong demand and a steeper-than-expected drop in U.S. crude inventories.

Persons: Brendan McDermid, Russell, Michael Green, Joseph Sroka, Brent, Stephen Culp, Marc Jones, Susan Fenton, Deepa Babington Organizations: New York Stock Exchange, REUTERS, Treasury, Fed, Dow, Nasdaq, Management, Dow Jones, Reuters Graphics Reuters, Japan's Nikkei, Thomson Locations: New York City, U.S, Philadelphia, Atlanta, Spain, Asia, Pacific, Japan, London

☆ Wall Street advances, Treasury yields rise as debt-ceiling debate rolls along
▼ + stars: | 2023-05-15 | by ( Stephen Culp | ) www.reuters.com time to read: +3 min

"It feels like there's some optimism regarding talks on the debt ceiling," said Joseph Sroka, chief investment officer at NovaPoint in Atlanta. "Part of that may be political gamesmanship, but it's helping the market a little bit today." European stocks ended the session higher as investors eyed ongoing U.S. debt ceiling negotiations and Turkey's impending election runoff. Emerging market stocks rose 0.54%. Gold edged higher in opposition to the weakening dollar as the ongoing debt ceiling standoff stoked fears of a global economic slowdown.

☆ Tech lifts Nasdaq, Treasury yields gain as debt ceiling debate plods on
▼ + stars: | 2023-05-15 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

[1/2] A trader works on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., May 11, 2023. "It feels like there's some optimism regarding talks on the debt ceiling," said Joseph Sroka, chief investment officer at NovaPoint in Atlanta. European stocks ended the session higher as investors eyed ongoing U.S. debt ceiling negotiations and Turkey's impending election runoff. Emerging market stocks rose 0.53%. Gold edged higher in opposition to the weakening dollar as the debt ceiling standoff wore on, and investors clung to hopes of interest rate cuts by year-end, despite comments from Fed officials.

☆ Wall Street totters after mixed earnings, trade halt glitch
▼ + stars: | 2023-01-24 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

More than 80 stocks were affected by the glitch, which caused wide swings in opening prices in stocks, including Walmart Inc (WMT.N) and Nike Inc (NKE.N). Fourth quarter earnings season is in full swing, with 72 of the companies in the S&P 500 having reported. On aggregate, analysts now expect S&P 500 earnings 2.9% below the year-ago quarter, down from the 1.6% year-on-year decline seen on Jan. 1, per Refinitiv. Among the 11 major sectors of the S&P 500, industrials was down the most. The S&P 500 posted 27 new 52-week highs and 10 new lows; the Nasdaq Composite recorded 69 new highs and 21 new lows.

☆ Fed delivers fourth 75 bp hike, signals scale-back coming
▼ + stars: | 2022-11-02 | by ( ) www.reuters.com time to read: +6 min

This statement clearly suggests input from Vice Chair Brainard and opens the door for the Fed to slow down the pace of future rate hikes. Monetary policy today is not sufficiently tight enough. We’ll know when the Fed is done tightening; they’ll tell us by simply saying that monetary policy is sufficiently restrictive. “The last thing we need to see regarding what the Fed will do in the short run is the election. If there’s a sense that fiscal policy will be more cooperative with monetary policy, it will make the Fed’s job easier.”Compiled by the Global Finance & Markets Breaking News teamOur Standards: The Thomson Reuters Trust Principles.

☆ Wall Street ends sharply higher, dollar dips on UK U-turn, strong earnings
▼ + stars: | 2022-10-17 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

Raindrops hang on a sign for Wall Street outside the New York Stock Exchange in Manhattan in New York City, New York, U.S., October 26, 2020. All three major U.S. stock indexes rallied to end the session 1.9% to 3.4% higher while and the dollar lost ground against a basket of world currencies. "The catalysts that have triggered in the markets year-to-date are well-known," said Joseph Sroka, chief investment officer at NovaPoint in Atlanta. The pan-European STOXX 600 index (.STOXX) rose 1.83% and MSCI's gauge of stocks across the globe (.MIWD00000PUS) gained 2.09%. Emerging market stocks rose 0.32%.

☆ U.S. stocks surge, dollar dips on solid earnings, UK policy U-turn
▼ + stars: | 2022-10-17 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

Raindrops hang on a sign for Wall Street outside the New York Stock Exchange in Manhattan in New York City, New York, U.S., October 26, 2020. A broad-based rally sent all three major U.S. stock indexes sharply higher, while Treasury yields eased and the dollar lost ground. European stocks closed sharply higher on the UK's financial policy reversal. Emerging market stocks rose 0.37%. The euro and sterling gained strength following Hunt's announced policy reversal, causing the greenback to lose ground against a basket of major world currencies.

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