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☆ Morgan Stanley says the catch-up trade in energy can continue and names its top picks to play
▼ + stars: | 2024-03-29 | by ( Spencer Kimball | ) www.cnbc.com time to read: +2 min

Oil stocks are finally playing catch up as the energy sector has become one of the best performing sectors of the market this year, according to Morgan Stanley. "An improving macro backdrop has started a catch-up trade for Energy," analyst Devin McDermott told clients in a research note Thursday. The sector lagged the broader market last year as crude sagged, but is now following oil prices higher. The sector is outperforming the broader market with energy up 12.5% year to date while the S & P 500 is up 10.1%. Morgan Stanley upgraded the entire sector to overweight early this week.

Persons: Morgan Stanley, Devin McDermott, McDermott Organizations: Energy, Brent, Morgan, ConocoPhillips, Occidental Locations: Diamondback, Devon, Brent

☆ Dollar droops as key U.S. data looms; yen firms on CPI beat
▼ + stars: | 2024-02-27 | by ( ) www.cnbc.com time to read: +2 min

The dollar traded on the back foot on Tuesday, as markets looked ahead to a week of key U.S. economic data that will provide fresh signals on how soon the Federal Reserve may begin cutting interest rates. The dollar traded on the back foot on Tuesday, as markets looked ahead to a week of key U.S. economic data that will provide fresh signals on how soon the Federal Reserve may begin cutting interest rates. The U.S. dollar index , which measures the currency against a basket of peers including the yen and euro, traded flat at 103.78 early in Asian time, following a 0.17% slide on Monday. U.S. durable goods data is due later on Tuesday, while January's U.S. personal consumption expenditures price index, which is the Fed's preferred measure of inflation, will be released Thursday. The dollar slipped 0.1% to 150.54 yen as a slightly hotter-than-expected reading for Japan's January consumer price index kept the BOJ on track to exit negative interest rate policy as soon as next month.

Persons: CME's, Richard Franulovich, Cryptocurrency bitcoin Organizations: Federal Reserve, Bank of Japan's, U.S, January's, New Zealand, Aussie, Traders, Reserve Bank of New, MicroStrategy Inc Locations: January's U.S, Reserve Bank of New Zealand

☆ Yen sinks as currency traders keep short and carry on
▼ + stars: | 2024-02-23 | by ( ) www.cnbc.com time to read: +3 min

The yen is the worst-performing G10 currency this year, with a 6.4% slide on the dollar. For the week the yen is down 0.6% on the euro, touching its weakest for three months overnight at 163.45 per euro . Yen moves against the dollar were more modest due to the risk its slide could prompt intervention in markets from Japan, with officials reminding traders they stand ready in recent days. The dollar gained 0.1% to trade at 150.41 yen this week. Investors can earn interest, or carry, by borrowing yen around 0% and buying income-bearing assets in other currencies.

Persons: Moh Siong Sim, Sterling, Christine Lagarde, Christopher Waller Organizations: New, Deutsche, Britain, of Singapore, U.S, European Central Bank Locations: Japan, New Zealand, Friday's Asia, U.S, Europe

☆ Chevron earnings fall but shareholders see record windfall in 2023, company raises dividend 8%
▼ + stars: | 2024-02-02 | by ( Spencer Kimball | ) www.cnbc.com time to read: +2 min

Chevron said its fourth-quarter profits fell sharply from a year ago, weighed down by a number of impairment charges, but the second largest U.S. oil company still to managed to return a record amount of cash to its shareholders in 2023. The oil major returned $23.6 billion to investors by paying out $11.3 billion in dividends and buying back $14.9 billion in shares last year. It did so even as its profit fell about 40% to $21.3 billion from $35.5 billion in 2022. Chevron said its board approved an 8% increase in the quarterly dividend to $1.63 beginning in March. The segment sagged as U.S. refining profits fell due to lower margins on product sales.

Persons: Wall, Brent Organizations: Chevron, LSEG, West Texas Intermediate, U.S, PDC Energy, ACES Delta Locations: U.S, Gulf of Mexico

☆ Boeing’s Problems Started Long Before the Alaska Airlines Mishap - The New York Times
▼ + stars: | 2024-01-23 | by ( Bill Saporito | ) www.nytimes.com time to read: +1 min

That company’s already turbulent reputation suffered another jolt this month when a door plug — a fake door that replaces a real one in some airline configurations — on an Alaska Airlines Boeing 737 Max 9 blew out at about 16,000 feet. Investigations have commenced into the 737 Max 9, a fairly new jet freighted with Boeing’s penchant for producing flawed aircraft. With flights already full, the system can ill afford the grounding of 171 737 Max 9s. Aerospace was the West Coast’s original geek technology: Hughes Aircraft, Douglas Aircraft, Northrup, North American, Lockheed and others in California, and in Seattle, Boeing. Hughes, Douglas and North American would disappear in acquisitions and mergers.

Persons: Max, Hughes Organizations: Xerox, . Steel, Boeing, Alaska Airlines Boeing, Max, Investigations, Aerospace, Hughes Aircraft, Douglas Aircraft, Lockheed, North Locations: North American, California, Seattle, Vietnam, Douglas

☆ Wall St pauses amid Cyber Monday madness; data, Fed speakers on tap
▼ + stars: | 2023-11-27 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., October 27, 2023. The tech-heavy Nasdaq was slightly higher, the Dow was edging red and the S&P 500 was essentially unchanged, but leaning lower. The S&P 500 Retail index (.SPXRT) was up 0.9%. Later in the week, market participants look to the Commerce Department's second take on third-quarter GDP expected on Wednesday, to be followed on Friday with its broad-ranging Personal Consumption Expenditures (PCE) report. The S&P 500 posted 34 new 52-week highs and no new lows; the Nasdaq Composite recorded 78 new highs and 64 new lows.

Persons: Brendan McDermid, Elliott, Dow, Greg Bassuk, Bassuk, Shopify, Stephen Culp, Shristi Achar, Shinjini Ganguli, Matthew Lewis Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Adobe Analytics, AXS Investments, Federal Reserve, Financial, Commerce, Dow Jones, Walmart, Elliott Investment Management, GE HealthCare, NYSE, Thomson Locations: New York City, U.S, New York, Bengaluru

HONG KONG (AP) — Asian shares retreated Friday after rising bond market yields once again weighed on Wall Street, ending a lull in wider swings in prices during a brief respite from market moving data releases. A financial services business of China’s biggest bank, ICBC, said it was it by a ransomware attack that reportedly disrupted trading in the U.S. Treasury market. It was unclear how much of an impact the attack had on Treasury market trading. But it quickly sagged as Treasury yields rose following a report that suggested the U.S. job market remains remarkably solid. Topgolf Callaway Brands was another weight on the market and sank 16.9% despite beating analysts’ expectations for profit during the summer.

Persons: Jerome Powell, Australia’s, Taiwan’s Taiex, Stocks, sagged, Becton Dickinson, Brent Organizations: Investors, U.S . Federal, U.S . Treasury, Commercial Bank of China Financial Services, Treasury, Nikkei, Dow Jones, Nasdaq, Federal, Walt Disney Co, Wall, Topgolf Callaway Brands, New York Mercantile Exchange, U.S Locations: HONG KONG, Asia, Hong Kong, South Korea, Shanghai, China’s, U.S, York, Bangkok

☆ Investors see opportunities in these beaten-down areas of the stock market
▼ + stars: | 2023-11-10 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

New York CNN —Cash is king right now, but investors aren’t casting stocks away completely. Yields jumped on Thursday, after Fed Chair Jerome Powell said in a speech that he’s unsure whether the central bank has adequately tightened monetary policy. Ham says he sees opportunities in dividend growth stocks, whose declines this year mean they’re priced at attractive levels. Investors also shouldn’t overlook small-cap stocks, says Matt Stucky, chief portfolio manager of equities at Northwestern Mutual Wealth Management Company. However, investors are bullish about another pause in rate hikes next month, according to fed funds rate futures.

Persons: Cash, That’s, Jerome Powell, ”, Emerson Ham III, Ham, Dave Sekera, he’s, They’re, hasn’t, Matt Stucky, Stucky, It’s, “, ” Powell, Bryan Mena, Powell, Trevor, Elon Musk, Clare Duffy, Musk, Read Organizations: CNN Business, Bell, New York CNN, Federal Reserve, Investment Company Institute, Treasury, Advisors, Big Tech, Morningstar Research Services, Utilities, Northwestern Mutual Wealth Management Company, International Monetary Fund, Economic, of New, LinkedIn, Facebook, Center, Anti, Defamation League, ADL Locations: New York, Washington ,, of New York

Here are the meanings of the 10 hardest words that have also been used in New York Times articles. 1. tumid — swollen, or bombastic:His once-tumid imagination now sagged like an empty skin. Also some good tippet nippers for fishing, new deck boots and a Fenix flashlight to replace the one someone stole from my desk. Some of the species have declined even more: Meadow pipit populations, for example, fell by 68 percent. — Book Review: Margalit Fox’s ‘Riddle of the Labyrinth’ (June 14, 2013)The list of the week’s easiest words:

Persons: Boss Christine, ghosted, tippet, Lucy, Gabrielle Hamilton’s, Cook, Fontaine, tempi, “ I’ve, ”, “, — Rossini, Ramy Youssef, — Dave Chappelle, tutee, —, nonclinical —, logogram, Margalit Fox’s ‘ Riddle Organizations: New York Times, San Francisco Opera, West Bank, The, Health Locations: New, France, Israel, America, Britain, The New York

☆ Shell will cut 200 jobs in clean energy division
▼ + stars: | 2023-10-25 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +2 min

Shell will cut 200 positions within its low-carbon solutions unit in 2024, a spokesperson confirmed to CNBC on Wednesday. The company's low-carbon division helps spearhead Shell's transition to clean energy including hydrogen, given its pledge to become a "net-zero emissions energy business" by 2050. In the meantime, according to the spokesperson, Shell is planning $10-15 billion of low-carbon energy investment over the next two years, which will include biofuels, hydrogen, carbon capture and electric vehicle charging. Last July, the company announced its investment in the creation of one of Europe's largest hydrogen energy plants. The question of how Big Oil companies like Shell can fit into a clean energy future is existential for its business.

Persons: Wael Sawan, downsize, Shell, Sawan Organizations: Shell, CNBC, Department of Energy, Big Oil, Exxon Mobil, Chevron Locations: Shell's, bullish, Louisiana, Paris, California

☆ Is it time to buy Tesla? Two investors present the bull and bear case
▼ + stars: | 2023-10-04 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +4 min

Over the year to date, the stock of the auto giant, which designs and manufactures electric vehicles, battery energy storage devices, and solar panels, has surged around 100%. This comes as factory shutdowns hit production and demand for electric vehicles sagged in the face of higher interest rates. Tesla bear For David Trainer, founder and chief executive officer at investment firm New Constructs, Tesla is "one of the most overvalued stocks in the market." TSLA YTD mountain Shares in Tesla have surged substantially in the past year Tesla bull However, Gene Munster, managing partner at Deepwater Asset Management, disagrees. "Tesla can no longer enjoy its first mover advantage as many other major automakers are producing electric vehicles.

Persons: Elon Musk's Tesla, Tesla, David Trainer, Gene Munster, CNBC's, Munster Organizations: Wall, Federal, CNBC, Tesla, Deepwater Asset Management, Munster, Ford, General Motors Locations: Elon, U.S, China

An employee works on the production line at Jingjin filter press factory in Dezhou, Shandong province, China August 25, 2022. China's non-manufacturing PMI, which incorporates sub-indexes for service sector activity and construction, also rose, coming in at 51.7 versus August's 51.0. PROPERTY RISKSMore stable economic indicators will be welcomed by policymakers as they continue to grapple with a property sector debt crisis that has rattled global markets. Analysts say more policy support will be needed to ensure China's economy can hit the government's growth target of about 5% this year. "China's economy stabilised partly driven by the loosening of property sector policies," said Zhiwei Zhang, chief economist of Pinpoint Asset Management.

Persons: Siyi Liu, Zhou Hao, Zhiwei Zhang, Ryan Woo, Tina Qiao, Joe Cash, Michael Perry, William Mallard Organizations: REUTERS, National Bureau of Statistics, PMI, Guotai, China Evergrande, HK, Asian Development Bank, Analysts, Thomson Locations: Dezhou, Shandong province, China, BEIJING

☆ US yields revisit highs, Asia stocks sag on hawkish Fed angst
▼ + stars: | 2023-09-26 | by ( Kevin Buckland | ) www.reuters.com time to read: +3 min

Asia-Pacific stock benchmarks sagged along with gold, while crude oil continued to drift back from 10-month highs. Westpac strategists see risks skewed toward even higher yields in the near term, pulling up the dollar as well. "We expect 10yr yields to establish a new, higher, yield range in coming weeks," with a possible peak around 4.75%, they said. The European Central Bank and Bank of England have also touted higher rates for longer in policy meetings since the middle of the month. Crude oil remained weak amid concerns that fuel demand will be crimped by major central banks holding interest rates higher for longer, even with supply expected to be tight.

Persons: Brendan McDermid, Hong, HSI, Austan Goolsbee, Sterling, Gold, Kevin Buckland, Shri Navaratnam Organizations: New York Stock Exchange, REUTERS, Rights, Treasury, Federal Reserve, U.S, Tokyo's Nikkei, Traders, Westpac, Chicago Fed, Fed, European Central Bank and Bank of England, Brent, U.S . West Texas, Thomson Locations: New York City, U.S, Asia, Pacific, Japan, Britain

☆ Asia stocks rally as China data buoys mood; dollar stays strong
▼ + stars: | 2023-09-15 | by ( Kevin Buckland | ) www.reuters.com time to read: +4 min

Hong Kong's Hang Seng (.HSI) added 1.2%, and mainland Chinese blue chips (.CSI300) rose 0.2%, flipping from early small losses. The overall improving economic outlook bolstered the Chinese yuan, which gained about 0.3% to 7.2709 per dollar in offshore markets . Australia's dollar , which often trades as a proxy for the country's top trading partner, rose 0.3% to $0.6460. The so-called U.S. dollar index edged down 0.08% to 105.33, after hitting the highest since early March at 105.43 on Thursday. The dollar index is on track for a ninth straight weekly advance, the longest run in nine years.

Persons: Issei Kato, Moody's, It's, Kyle Rodda, Tony Sycamore, Jerome, Sycamore, Brent, Kevin Buckland, Stephen Coates Organizations: REUTERS, Rights, Japan's Nikkei, U.S, European Central Bank, Federal Reserve, ECB, IG, U.S . West Texas, Thomson Locations: Tokyo, Japan, Asia, U.S

☆ Asian shares slip, oil hold gains ahead of US inflation test
▼ + stars: | 2023-09-13 | by ( Stella Qiu | ) www.reuters.com time to read: +4 min

Both S&P 500 futures and Nasdaq futures were mostly unchanged. In Asia, MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) slipped 0.3% while Tokyo's Nikkei (.N225) eased 0.1%. While core CPI is seen cooling to 4.3% year-on-year in August from 4.7%, rising energy costs are forecast to keep headline inflation elevated at 3.6%. And the latest spike in oil prices to ten-month highs is unlikely to escape the Fed's attention. On Wall Street, the S&P 500 fell 0.6% overnight, the Nasdaq declined 1% while Dow Jones was mostly flat.

Persons: Androniki, Ray Attrill, Dow Jones, Steve Englander, Stella Qiu, Shri Navaratnam Organizations: Nikkei, REUTERS, Apple, Oracle, Thursday SYDNEY, European Central Bank, Reuters, ECB, Nasdaq, Tokyo's Nikkei, Consumer, Index, Federal, Fed, National Australia Bank, Brent, U.S, West Texas, Standard Chartered, Thomson Locations: Tokyo, Japan, Europe, Asia, Pacific

☆ Markets await U.S. inflation test, surging oil add to price jitters
▼ + stars: | 2023-09-13 | by ( Stella Qiu | ) www.reuters.com time to read: +3 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was flat while Tokyo's Nikkei (.N225) eased 0.2%. Australia's resource-heavy shares (.AXJO) lost 0.7%, Chinese blue-chips (.CSI300) were flat but Hong Kong's Hang Seng index (.HSI) moved 0.6% higher. While core CPI is seen cooling to 4.3% year-on-year in August from 4.7%, rising energy costs are forecast to keep headline inflation hot. And the latest spike in oil prices to ten-month highs is unlikely to escape the Fed's attention. Oil prices extended gains on Wednesday.

Persons: Androniki, HSI, Ray Attrill, Dow Jones, Stella Qiu, Shri Navaratnam Organizations: Nikkei, REUTERS, Apple, Oracle, Thursday SYDNEY, Reuters, European Central Bank, Consumer, Index, Federal, Fed, National Australia Bank, Brent, . West Texas, Nasdaq, ECB, U.S, Thomson Locations: Tokyo, Japan, Asia, Pacific

☆ Macy's-owned Bloomingdale's taps international exec Olivier Bron as its next CEO
▼ + stars: | 2023-09-12 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +4 min

Shoppers walk past a Bloomingdale's store in the SoHo neighborhood of New York, US, on Wednesday, Dec. 28, 2022. With the move, the legacy retailer is adding an outside perspective and a dash of global flair to the higher-end department store. Bron, 46, is a French national who was most recently CEO of Central and Robinson department stores in Thailand. A 36-year veteran of Bloomingdale's, Spring became CEO-elect of the parent company Macy's in March. Macy's said Tuesday that it has tapped international retail executive Olivier Bron as the next CEO of its upscale department store, Bloomingdale's.

Persons: Bron, Tony Spring, Spring, Jeff Gennette, Macy's, Olivier Bron, Michael Gould, Beverly, Bloomingdale's, Nordstrom Organizations: Bain & Company, Central, Robinson, Bloomingdale's, Macy's, Beverly Hills Locations: SoHo, New York, Lafayette, Paris, Bron, French, Thailand, Dubai, Kuwait, Manhattan, New York City, Seattle, Macy's

☆ Asia stocks slide on U.S. rate worries, dollar ascendant
▼ + stars: | 2023-09-07 | by ( Kevin Buckland | ) www.reuters.com time to read: +4 min

The U.S. dollar hung close to the highest since mid-March against major peers, and touched a fresh 10-month top to the yen. U.S. stock futures pointed to a 0.1% decline, following a 0.7% slide for the S&P 500 (.SPX) overnight. "It all goes back to the discussion of where that magical neutral rate happens to be," he said. The dollar earlier touched the highest since Nov. 4 versus the yen at 147.875 . Brent crude futures edged up 12 cents to $90.72 a barrel, while U.S. West Texas Intermediate crude (WTI) futures gained 11 cents to $87.65.

Persons: Kim Kyung, Brent, HSI, hasn't, Kyle Rodda, Kevin Buckland, Simon Cameron, Moore Organizations: Tokyo Stock Exchange, REUTERS, Rights, U.S, Japan's Nikkei, Federal Reserve, Capital.com, U.S ., People's Bank of China, Brent, West Texas, Thomson Locations: Tokyo, Japan, United States, Asia, Europe, Melbourne, China, Saudi Arabia, Russia

Bank of Canada Governor Tiff Macklem takes part in a news conference after announcing an interest rate decision in Ottawa, Ontario, Canada April 12, 2023. REUTERS/Blair Gable/File Photo Acquire Licensing RightsOTTAWA, Sept 6 (Reuters) - The Bank of Canada on Wednesday is expected to keep rates on hold at a 22-year high of 5% after the economy unexpectedly shrank in the second quarter, analysts said. While the economy turned negative in the second quarter, inflation has been stubborn, unexpectedly rising to 3.3% in July as core measures remained well above 3%. Canada's Liberal Prime Minister Justin Trudeau's support has sagged amid high inflation as his Conservative rival, Pierre Poilievre, hammered him for feeding inflation with government spending and driving up rates during a housing crisis. But core inflation measures are inching down slowly, and a wealth of data is due out before the bank next meets to discuss rates in October.

Persons: Blair Gable, Derek Holt, Justin Trudeau's, Pierre Poilievre, Tiago Figueiredo, Holt, Steve Scherer, Mark Porter Organizations: Canada, REUTERS, Rights, Bank of Canada, of Canada, Scotiabank, Canada's Liberal, Conservative, Bank of Canada's, Desjardins Group, Reuters, BoC, Thomson Locations: Ottawa , Ontario, Canada

☆ Bank of Canada holds rates, says it could hike further if inflation persists
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: +2 min

Bank of Canada Governor Tiff Macklem takes part in a news conference after announcing an interest rate decision in Ottawa, Ontario, Canada April 12, 2023. The central bank hiked rates by a quarter point in both June and July in a bid to tame stubbornly high inflation, which has remained above the bank's 2% target for 27 months. "Governing Council remains concerned about the persistence of underlying inflationary pressures, and is prepared to increase the policy interest rate further if needed." Liberal Prime Minister Justin Trudeau's support has sagged amid high inflation as his Conservative rival, Pierre Poilievre, hammered him for fueling inflation with government spending and driving up rates during a housing crisis. Bank of Canada Governor Tiff Macklem will deliver a speech and hold a press conference to discuss the decision on Thursday.

Persons: Blair Gable, Steve Scherer, David Ljunggren OTTAWA, Justin Trudeau's, Pierre Poilievre, David Ljunggren Organizations: Canada, REUTERS, Bank of Canada, Wednesday, Governing, of Canada, BoC, Liberal, Conservative, Reuters, Thomson Locations: Ottawa , Ontario, Canada, Reuters Ottawa

Bank of Canada Governor Tiff Macklem takes part in a news conference after announcing an interest rate decision in Ottawa, Ontario, Canada April 12, 2023. The central bank hiked rates by a quarter point in both June and July in a bid to tame stubbornly high inflation, which has remained above the bank's 2% target for 27 months. Bank of Canada Governor Tiff Macklem will deliver a speech and hold a press conference to discuss the decision on Thursday. Reuters GraphicsLiberal Prime Minister Justin Trudeau's support has sagged amid high inflation as his Conservative rival, Pierre Poilievre, hammered him for fueling inflation with government spending and driving up rates during a housing crisis. "The Bank of Canada's decision to maintain its overnight interest rate is welcome relief for Canadians," Finance Minister Chrystia Freeland said in a statement.

Persons: Blair Gable, Doug Porter, Andrew Kelvin, Justin Trudeau's, Pierre Poilievre, Chrystia Freeland, Steve Scherer, David Ljunggren, Fergal Smith, Ismail Shakil, Divya Rajagopal, Nivedita Balu, Mark Porter Organizations: Canada, REUTERS, Rights, Bank of Canada, Wednesday, Governing, BoC, BMO Capital Markets, Canadian, Reuters, TD Securities, Reuters Graphics Liberal, Conservative, Finance, Thomson Locations: Ottawa , Ontario, Canada

☆ 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

U.S. bond investors nonetheless dialled back their bets of a rate hike in November and December following Powell's remarks, though Treasury yields traded near break-even by late morning. The yield on 10-year Treasury notes was steady at 4.2314% and the two-year yield, which reflects interest rate expectations, rose to 5.0735%. "We've seen a back-off in ECB rate hike expectations. Boston Fed President Susan Collins said on Yahoo Finance's video channel that rates may be near or at a peak, "but certainly additional increments are possible." Tokyo consumer price data on Friday, which front-runs nationwide figures, showed inflation remained well above the Bank of Japan's target.

Persons: Toby Melville, Jerome Powell, Powell, David Sadkin, Dow Jones, Christine, Lagarde, Ben Laidler, Patrick Harker, Susan Collins, Shaun Osborne, Joseph Capurso, Kazuo Ueda, Jackson, Brent, Samuel Indyk, Kevin Buckland, Jacqueline Wong, Mark Potter, Chizu Nomiyama, Susan Fenton, Diane Craft, Cynthia Osterman Organizations: London Stock Exchange Group, City of, REUTERS, Federal Reserve, Bel Air Investment Advisors, Nasdaq, European Central Bank, ECB, Reuters, Philadelphia Fed, CNBC, Boston, Yahoo, U.S, Scotiabank, Bank of, Bank of Japan, CBA, West Texas, Thomson Locations: City, City of London, Britain, Jackson Hole , Wyoming, U.S, Asia, Tokyo

☆ Shares whipsaw as Fed weighs inflation risks, yields steady
▼ + stars: | 2023-08-25 | by ( Samuel Indyk | ) www.reuters.com time to read: +5 min

If you're a bear, you heard him say we're going to be restrictive, and we might hike rates," said David Sadkin, president at Bel Air Investment Advisors. U.S. rates investors nonetheless dialled back their bets of a rate hike in November and December following Powell's remarks, though Treasury yields traded near break-even by late morning. "We've seen a back off in ECB rate hike expectations. Boston Fed President Susan Collins said on Yahoo Finance's video channel that rates may be near or at a peak, "but certainly additional increments are possible." Tokyo consumer price data on Friday, which front-runs nationwide figures, showed inflation remained well above the Bank of Japan's target.

Persons: Toby Melville, Jerome Powell, Powell, David Sadkin, Dow Jones, Christine, Lagarde, Ben Laidler, Patrick Harker, Susan Collins, Shaun Osborne, Joseph Capurso, Kazuo Ueda, Jackson, Brent, Samuel Indyk, Kevin Buckland, Jacqueline Wong, Mark Potter, Chizu Nomiyama, Susan Fenton Organizations: London Stock Exchange Group, City of, REUTERS, Federal Reserve, Bel Air Investment Advisors, Nasdaq, European Central Bank, Reuters, ECB, Philadelphia Fed, CNBC, Boston, Yahoo, U.S, Scotiabank, Bank of, Bank of Japan, CBA, West Texas, Thomson Locations: City, City of London, Britain, Jackson Hole , Wyoming, U.S, Asia, Tokyo

☆ Stocks swoon, dollar firms as Powell speech looms
▼ + stars: | 2023-08-25 | by ( Kevin Buckland | ) www.reuters.com time to read: +5 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 15, 2023. Crude oil found its footing around one-month lows, but remained on course for a second weekly decline amid a firmer dollar and simmering China-centred worries about global growth. "However, there is also no real reason for Powell to strike a dovish tone," he added, "and that could mean an ugly end to the week for stocks, while the dollar shines." Against Japan's currency , the dollar edged tentatively back toward last week's nine-month high of 146.545, trading as strong as 146.21. In energy markets, crude prices rose slightly on Friday, but remained on track for weekly declines of between 1.5-2.5%.

Persons: Brendan McDermid, Jerome Powell, Jackson, Kazuo Ueda, Christine Lagarde, Powell, Matt Simpson, Simpson, Patrick Harker, Susan Collins, Joseph Capurso, Brent, Kevin Buckland, Jacqueline Wong Organizations: New York Stock Exchange, REUTERS, Rights, Federal, People's Bank of, Bank, Nasdaq, Japan's Nikkei, Nvidia, Advantest, Fed, Boston Philadelphia Fed, CNBC, Yahoo, U.S, Bank of Japan, CBA, Treasury, West Texas, Thomson Locations: New York City, U.S, . U.S, China, People's Bank of China, Asia, Tokyo, Jackson

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