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☆ Stock futures fall as Wall Street awaits the Fed's preferred inflation gauge: Live updates
▼ + stars: | 2024-02-28 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Stock futures fell as Wall Street weighed the latest earnings results and looked ahead to the Federal Reserve's favored inflation gauge. Futures tied to the Dow Jones Industrial Average slipped 80 points, or 0.2%. The S&P 500 futures and Nasdaq 100 futures edged down 0.2% and 0.25%, respectively. The 30-stock Dow lost 0.06% and fell for a third consecutive session, while the S&P 500 inched down 0.17%. The S&P 500 has jumped 4.6%, while the Dow has added 2.1%.

Persons: Salesforce, Okta, Joe Mazzola, Charles Schwab's, Dow, John Williams Organizations: New York Stock Exchange, Stock, Federal, Dow Jones, Nasdaq, Dow, Hewlett Packard Enterprises, Bath, Body, New York Federal Reserve Bank Locations: Snowflake, Chicago

☆ Wall Street will try to maintain AI-fueled momentum in the final week of February, as inflation concerns linger
▼ + stars: | 2024-02-23 | by ( Sarah Min | ) www.cnbc.com time to read: +8 min

In the final week of February, Wall Street will strive to maintain its AI-fueled rally even as economic concerns linger and the Federal Reserve's favorite inflation measure is on deck. But many worry the writing is on the wall for these market leaders as economic and inflation risks linger. The 'lone cloud' of inflation The Fed's preferred inflation gauge will also be released in the week ahead. Investors are concerned that sticky inflation will mean that the Fed will hold onto its higher-for-longer interest rate policy. Next week will also be the final week of February, with stocks headed for another strong month of gains.

Persons: Goldman Sachs, Patrick McDonough, Europe's, PGIM's McDonough, McDonough, Charlie Ashley, Dhaval Joshi, Joshi, Ashley, John Williams, TJX Cos Organizations: Dow Jones Industrial, Nasdaq, Nvidia, Japan's Nikkei, Catalyst Funds, BCA Research, CPI, PPI, Dow, New, Dallas Fed, Fidelity National Information Services, Richmond Fed, eBay, Enterprise, Cruise Line Holdings, New York Federal Reserve Bank, York, Monster Beverage, Paramount Global, PCE Deflator, Chicago PMI, . Kansas City Fed Manufacturing, Hewlett Packard Enterprise, Autodesk, Body, Hormel, PMI, Manufacturing Locations: U.S, Lowe's, Chicago, . Kansas, Michigan

Closing the wealth gap is more difficult because a significantly larger number of white households traditionally have money in stocks and mutual funds. A separate Fed survey shows that as of 2022, about 65.6% of white households had investments in stocks, compared with 28.3% for Hispanic households and 39.2% for Black households. More than 50% of Black financial wealth is invested in pensions, the New York Fed found. In contrast, less than 30% of white financial wealth is invested in pensions, with about 50% invested in businesses, equities, and mutual funds. In April of 2020, more than 40% of Black business owners reported they were not working, compared with only 17% of white business owners.

Persons: ”, Janelle Jones, Jones, Walley Adeyemo, Adeyemo, ___, Charles Schwab Organizations: New York Federal Reserve Bank, Black, Washington Center for Equitable, Federal Reserve, New York Fed, Bureau of Labor Statistics, Associated Press, Charles, Charles Schwab Foundation, Inc, AP Locations: U.S, America

☆ Stock futures are little changed on Tuesday evening: Live updates
▼ + stars: | 2024-01-16 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Traders on the floor of the New York Stock Exchange (NYSE) in New York, on Tuesday, Jan. 3, 2023. Stock futures were flat in overnight trading following a losing session to kick off the holiday-shortened trading week. Futures tied to the Dow Jones Industrial Average hovered near the flatline, along with S&P 500 futures . Interactive Brokers lost nearly 3% in extended trading after posting fourth quarter adjusted earnings that fell short of expectations. The Federal Reserve's beige book and business inventories for November are also slated for Wednesday, along with remarks from New York Federal Reserve Bank President and CEO John Williams.

Persons: Stocks, Christopher Waller, Goldman Sachs, Morgan Stanley, Jeffrey Buchbinder, Dow Jones, Charles Schwab, John Williams Organizations: New York Stock Exchange, Stock, Dow Jones, Nasdaq, Interactive, Federal Reserve, Dow, Bank of America, LPL, U.S . Bancorp, New York Federal Reserve Bank Locations: New York, New

Consumer prices held stable in October, bringing the annual inflation rate down to 3.2% from 3.7% a month ago as energy prices receded, the Bureau of Labor Statistics said on Tuesday. “Further evidence of disinflation inside the October inflation report,” RSM US Chief Economist Joseph Brusuelas posted on social media, noting that month-over-month inflation was flat at 3.2% and core inflation was up 0.2 percent to 4% over the same period. Although prices for a wide variety of goods and services have cooled this year, the current inflation rate is well above the 2% target set by the central bank. “Inflation expectations over the next 5 years dipped to 2.7%, slightly above the Fed’s long-run target of 2%. “We don’t think the last mile of disinflation will be particularly hard,” Goldman Chief Economist Jan Hatzius wrote in the outlook.

Persons: Joseph Brusuelas, Stocks, Matt Bush, Patrick De Haan, “, ”, Piyush Patel, Jeffrey Roach, Goldman Sachs, Jan Hatzius Organizations: of Labor Statistics, RSM, Federal, Treasury, Dow Industrial, Guggenheim Partners, CNBC, National Retail Foundation, NRF, Affinity Solutions, Wall Street, Travel, Gas, New York Federal Reserve Bank, University of Michigan’s, LPL, Investment, ” Goldman Locations: U.S

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 7, 2023. The consumer price index (CPI) dropped in the world's second-largest economy, the National Bureau of Statistics said, its first decline since February 2021. Of the 443 S&P 500 companies that have reported results as of Tuesday, 78.6% beat analyst expectations, according to Refinitiv data. Declining issues outnumbered advancing ones on the NYSE by a 1.18-to-1 ratio; on Nasdaq, a 1.63-to-1 ratio favored decliners. The S&P 500 posted 16 new 52-week highs and 7 new lows; the Nasdaq Composite recorded 60 new highs and 178 new lows.

Persons: Brendan McDermid, Jason Krupa, Patrick Harker, Gina Bolvin, Wells, Penn Entertainment's, Walt Disney's, Uber, Krupa, Echo Wang, Bansari Mayur Kamdar, Johann M, Shounak Dasgupta, David Gregorio Our Organizations: New York Stock Exchange, REUTERS, Penn Entertainment, Dow, Nasdaq, Consumer, Index, Lenox Advisors, New York Federal Reserve Bank, Philadelphia Fed, Bolvin Wealth Management Group, Traders, FedWatch, Wall, Nvidia, Apple, National Bureau of Statistics, Dow Jones, Bank of America, Casino, Walt, Walt Disney's ESPN, NYSE, Thomson Locations: New York City, U.S, Boston, New York, Bengaluru

The Consumer Price Index (CPI) for July, due on Thursday, is expected to show a slight acceleration from last year. The consumer price index (CPI) dropped in the world's second-largest economy, the National Bureau of Statistics said on Wednesday, its first decline since February 2021. According to preliminary data, the S&P 500 (.SPX) lost 31.47 points, or 0.70%, to end at 4,467.91 points, while the Nasdaq Composite (.IXIC) lost 162.31 points, or 1.17%, to 13,723.96. Six of the top 11 S&P 500 sectors rose, with energy stocks (.SPNY) leading the gain. Of the 443 S&P 500 companies that have reported results as of Tuesday, 78.6% beat analyst expectations, according to Refinitiv data.

Persons: Brendan McDermid, Jason Krupa, Patrick Harker, Gina Bolvin, Michelle Bowman, Wells, Penn Entertainment's, Walt Disney's, Uber, Krupa, Echo Wang, Bansari Mayur Kamdar, Johann M, Shounak Dasgupta, David Gregorio Our Organizations: New York Stock Exchange, REUTERS, Penn Entertainment, Dow, Nasdaq, Lenox Advisors, New York Federal Reserve Bank, Philadelphia Fed, Bolvin Wealth Management Group, Traders, FedWatch, Wall, Nvidia, Apple, Index, Bank of America, National Bureau of Statistics, Dow Jones, Casino, Walt, Walt Disney's ESPN, Thomson Locations: New York City, U.S, Boston, New York, Bengaluru

Household debt ticked up 0.1% to $17.06 trillion, as mortgage balances - the biggest portion, and typically the biggest driver, of overall household debt - were largely unchanged. But the quarter-to-quarter trend appeared less alarming, with New York Fed researchers noting a leveling out near pre-pandemic levels in the most recent two quarters. New York Fed researchers attributed the decline to the timing of the academic year, as well as to some small forgiveness programs kicking in. Overall mortgage balances ticked down to $12.01 trillion, from $12.04 trillion in the prior quarter, reflecting some changes in credit reporting that are expected to reverse next quarter, New York Fed researchers said. Originations rose about 11% to $179 billion, reflecting the sharp rise in car prices; the number of newly opened loans remains below pre-pandemic levels, the report said.

Persons: Lee Jae, Ann Saphir, Paul Simao, Jonathan Oatis Organizations: REUTERS, New York Federal Reserve Bank, Fed, New York, Reuters, New York Fed, Mortgage, Auto, Thomson Locations: Seoul, U.S

SummarySummary Companies February PCE growth slowsVirgin Orbit announces layoff plans, shares tankFutures up: Dow 0.37%, S&P 0.28%, Nasdaq 0.14%March 31 (Reuters) - Wall Street's main indexes were set to open higher on Friday after data showed inflation slowed in February, supporting hopes of a softer monetary policy approach from the Federal Reserve. Traders' bets of a 25-basis-point rate hike in May stand at 55.5%, with odds of a pause at 44.5%, according to CME Group's Fedwatch tool. "But in terms of the Fed's calculus, they'll have to have more confirmation that disinflation is really taking hold beyond just a few data points here and there." U.S. 10-year Treasury yields fell to a session low of 3.534% after the data. The KBW Regional banking index (.KRX) and the S&P 500 banks index (.SPXBK), which houses major banks, have lost 19% and 14%, respectively, so far during the quarter.

SummarySummary Companies February PCE data due at 8:30 am ETVirgin Orbit announces layoff plans, shares tankFutures mixed: Dow up 0.23%, S&P up 0.19%, Nasdaq flatMarch 31 (Reuters) - U.S. stock index futures were mixed on Friday as investors awaited inflation data for cues on the Federal Reserve's monetary policy path amid receding fears of a banking crisis. The Commerce Department is expected to release the February reading of the personal consumption expenditures (PCE) price index, the Fed's preferred measure of inflation, at 8:30 am ET (12:30 GMT). The KBW Regional banking index (.KRX) and the S&P 500 banks index (.SPXBK), which houses major banks, have lost 19% and 14%, respectively, so far during the quarter. ET, Dow e-minis were up 76 points, or 0.23%, S&P 500 e-minis were up 7.75 points, or 0.19%, and Nasdaq 100 e-minis were up 1.25 points, or 0.01%. Reporting by Amruta Khandekar and Ankika Biswas; Editing by Nivedita Bhattacharjee and Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

☆ Futures muted as investors await key inflation data
▼ + stars: | 2023-03-31 | by ( ) www.reuters.com time to read: +2 min

SummarySummary Companies Futures: Dow flat, S&P up 0.04%, Nasdaq down 0.02%March 31 (Reuters) - U.S. stock index futures were flat on Friday as investors steered clear of big bets ahead of crucial inflation data, amid receding fears of a banking crisis. The Commerce Department is expected to release February data on the personal consumption expenditures (PCE) price index- the Fed's preferred measure of inflation, at 8:30 am ET (12:30 GMT). Consumer sentiment data from the University of Michigan is also due later in the day. New York Federal Reserve Bank President John Williams and Fed Governor Lisa Cook are also scheduled to speak later on Friday. ET, Dow e-minis were flat, S&P 500 e-minis were up 1.75 points, or 0.04%, and Nasdaq 100 e-minis were down 2 points, or 0.02%.

☆ Factbox: The biggest financial crises of the last four decades
▼ + stars: | 2023-03-25 | by ( ) www.reuters.com time to read: +4 min

Fears of banking contagion remain, and investors are worried that global economies will suffer if the effects of higher interest rates torpedo more lenders. Michael Milken had helped popularize the financial instrument, with many using it as a way of funding leveraged buyouts. The country ended up getting external financial support from the International Monetary Fund and a $50 billion bailout from the United States. GLOBAL FINANCIAL CRISIS OF 2008The biggest financial crisis since the Great Depression was rooted in risky loans to shaky borrowers, which started to lose value after central banks raised interest rates in the period leading up to the crisis. EUROPEAN DEBT CRISISSpurred by the 2008 financial crisis, surging debt at some of the major European economies led to a loss of confidence in the region's businesses.

☆ Morning Bid: Blue chips cheered up
▼ + stars: | 2023-02-23 | by ( ) www.reuters.com time to read: +5 min

[1/2] The logo of technology company Nvidia is seen at its headquarters in Santa Clara, California February 11, 2015. Its CEO Jensen Huang said use of its chips to power AI had "gone through the roof in the last 60 days." The Federal Reserve at least seems keen on the higher-for-longer message that's shaken world stock and bond markets this week. And as the minutes pre-date red-hot jobs and retail data for January, the message from Fed officials is probably even sterner now. A Reuters poll of equity analysts showed global stock markets are expected to correct in the next three months.

☆ Fed is 'absolutely' committed to 2% inflation target, Williams says
▼ + stars: | 2023-02-22 | by ( ) www.reuters.com time to read: 1 min

Feb 22 (Reuters) - New York Federal Reserve Bank President John Williams on Wednesday said the U.S. central bank is "absolutely" committed to bringing inflation back down to its 2% target over the next few years, by bringing demand down in line with constrained supply. "Our job is clear: our job is to make sure we restore price stability, which is truly the foundation of a strong economy," Williams said at a conference hosted at the bank. He noted that with global supply chains still disrupted, goods prices may not continue their recent decline, and inflation in core services excluding housing continues to be far too high, driven by too much demand relative to supply. Reporting by Ann Saphir Editing by Chris ReeseOur Standards: The Thomson Reuters Trust Principles.

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