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☆ Commodity ETFs are sliding in the third quarter. Why that could be positive for patient investors
▼ + stars: | 2024-08-24 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +5 min

More than halfway through the third quarter, many of the biggest commodity ETFs in the United States are in sizable holes. Kathy Kriskey, senior commodities ETF strategist at Invesco, said that oil supply is actually tight at the moment. The commodities slump could be partially due to mechanical factors in the market, such as low trading volumes combined with large commodity trading advisors betting against the sector, Kriskey said. "The price of corn has taken almost three full years from those 2022 spike highs to get back down. And oil, one of the biggest weights in commodity indexes, could see stepped up supply in coming months.

Persons: It's, Ryan Grabinski, Strategas, Kathy Kriskey, Kriskey, Sal Gilbertie, We're, Gilbertie, What's, Jerome Powell, Goldman Sachs, Morgan Stanley, Matijn, — CNBC's Michael Bloom Organizations: Strategy, United States Oil Fund, U.S ., Commodities, 4Q, DB Base Metals Fund Locations: United States, Ukraine, U.S, China

☆ How major markets typically perform in the 100 days before a presidential election
▼ + stars: | 2024-07-30 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Even with election uncertainty, the market typically moves higher in the 100 days leading up to a presidential vote — but it may be a volatile ride to get there. The so-called fear gauge usually declines in the first 20 trading days of the 100-day runup to the election, but typically works higher in the 45-, 60-, 65- and 70 days before election day. The VIX has been higher 6 of the last 8 election years during the closely-watched, 100-day period. Oil prices usually see upward pressure through October, before feeling some weakness in the final weeks before voters cast ballots. In the run up to October, oil prices typically see more of a boost when a Democrat is the sitting president.

Persons: Paul Ciana Organizations: Bank of America, ICE, Democrat, Overseas Locations: U.S

☆ Bad economic news has been good for stocks, but that could change this week
▼ + stars: | 2024-06-03 | by ( Jeff Cox | ) www.cnbc.com time to read: +4 min

Bad economic news so far has been mostly positive for the stock market, as investors worry over whether the Federal Reserve will start cutting interest rates. The greenback often rises on bad news as investors seek the safety of cash and equivalents, while the stock market gains on good news. .SPX .DXY line 2024-04-01 Stocks vs. the dollar At the same time, economic data has generally deteriorated, or at least not met Wall Street forecasts. For the most part, bad economic news likely could help convince the Fed that the time is right to start lowering interest rates. Based on the prior two months, the unemployment rate would have to rise to 4.3% in May for that to happen.

Persons: Ohsung Kwon, Kwon, Dow Jones, Claudia Sahm, BofA Organizations: Federal Reserve, Bank of America, Citi, Fed, Bureau of Labor Statistics, New Century Advisors

☆ Dollar ascendant as Fed cut bets pared, jawboning props up yen
▼ + stars: | 2024-04-02 | by ( ) www.cnbc.com time to read: +3 min

The U.S. dollar hovered near a 4-1/2-month high against major peers on Tuesday as traders rushed to push back bets for the Federal Reserve's first interest rate cut this year. The U.S. dollar hovered near a 4-1/2-month high against major peers on Tuesday as traders rushed to push back bets for the Federal Reserve's first interest rate cut this year. The U.S. rate futures market now factors in 61.3% odds of a Fed rate cut in June, down from about 70.1% probability a week ago, according to the CME's FedWatch tool. The Japanese yen firmed slightly on Tuesday to 151.565 per dollar, after dipping to 151.77 the previous day. Japanese authorities intervened in 2022 when the yen slid toward a 32-year low of 152 to the dollar.

Persons: –, Richard Franulovich, Sterling, Shunichi Suzuki, Westpac's, skidding, cryptocurrency bitcoin Organizations: U.S, Federal, Treasury, Bank of Japan's Locations: U.S, Japan

☆ 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

☆ Gold flat ahead of US inflation data
▼ + stars: | 2024-02-13 | by ( ) www.cnbc.com time to read: +2 min

Gold prices were little changed on Tuesday, as investors held back from making big bets ahead of a U.S. inflation report that could give fresh perspective on the timing of the Federal Reserve's first rate cut. Spot gold was flat at $2,018.71 per ounce, as of 0424 GMT, after briefly slipping to a more than two-week low of $2,011.72/Oz on Monday. All eyes are on the January U.S. consumer price index inflation data due at 13:30 GMT. Americans reported a fairly stable outlook for inflation at the start of the year, a New York Fed survey showed. Spot platinum was flat at $888.89 per ounce, palladium rose 1.5% to $905.71, and silver edged 0.1% higher to $22.71.

Persons: Tim Waterer, Wang Tao Organizations: Federal, KCM Trade, New, Fed, Reuters, U.S ., Traders, U.S Locations: Moscow, Russia, U.S, ., China, Hong Kong

☆ Gold subdued as traders gear up for US inflation print
▼ + stars: | 2024-01-10 | by ( ) www.cnbc.com time to read: +2 min

A worker handles an Argor-Heraeus SA one kilogram gold bar at Solar Capital Gold Zrt. Spot gold was down 0.3% at $2,023.48 per ounce. U.S. consumer inflation data is due on Thursday. Economists polled by Reuters see year-on-year inflation at 3.2% in December, but think core inflation likely fell to 3.8%, its lowest since mid-2021. "Still, bullion bulls would have no qualms restoring spot gold back above that psychologically important mark once markets get a firmer grasp on the Fed's policy pivot."

Persons: Bob Haberkorn, Michelle Bowman, denting, Han Tan Organizations: Heraeus SA, Solar, Reuters, New York Federal Reserve, Treasury, Exinity Locations: Budapest, Hungary, U.S

☆ Morning Bid: Small caps pick up baton, China rating hit
▼ + stars: | 2023-12-05 | by ( ) www.reuters.com time to read: +6 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 26, 2023. The likes of Microsoft (MSFT.O), Apple (AAPL.O), Nvidia (NVDA.O) and Amazon (AMZN.O) fell back over 1%, pressured by a modest bounceback in U.S. Treasury yields. China's blue-chip stocks slumped to their lowest since February 2019 amid fears of a possible cut to China's sovereign credit rating cut after Moody's outlook reduction. By Mike Dolan, Editing by Bernadette Baum; <a href="mailto:mike.dolan@thomsonreuters.com" target="_blank">mike.dolan@thomsonreuters.com</a>Our Standards: The Thomson Reuters Trust Principles. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Brendan McDermid, Mike Dolan, Russell, that's, Moody's, Isabel Schnabel, Michael Gibson, Christine Laggard, Mongo, Zero Fox, Bernadette Baum Organizations: New York Stock Exchange, REUTERS, Reserve, Microsoft, Apple, Nvidia, Treasury, Reserve Bank of Australia, Central Bank, Reuters, ECB, Barclays, Qatar, P Global, Federal, Division, Supervision, Financial Innovation, Descartes Systems, Health, Powell Industries, Dave, Buster's Entertainment, Reuters Graphics, Thomson Locations: New York City, U.S, Global, York, Treasuries, Europe

☆ Morning Bid: Buoyant markets hold near year's highs
▼ + stars: | 2023-12-04 | by ( ) www.reuters.com time to read: +5 min

The Wall Street sign is pictured at the New York Stock exchange (NYSE) in the Manhattan borough of New York City, New York, U.S., March 9, 2020. Fed futures markets think a first cut may come as soon as March - with a quarter-point easing by then already two-thirds priced. Two-year Treasury yields hit their lowest since June on Friday and 10-year yields their lowest in three months, although they edged higher on Monday. U.S. crude hit its lowest in two weeks and is tracking year-on-year losses of almost 10%. But that is widening into yearend as peak rate hopes encourage some rotation to smaller cap stocks.

Persons: Carlo Allegri, Mike Dolan, Jerome Powell, Powell, Goldman Sachs, Jan, Fitch, Bitcoin, Christine Lagarde, Joann, Kirsten Donovan Organizations: New York Stock, REUTERS, Federal Reserve, Spelman College, Fed, Tech, HK, Central Bank, Treasury, PMI Reuters Graphics Reuters, Reuters, Thomson Locations: Manhattan, New York City , New York, U.S, Atlanta, Europe, Gaza, China, Hong Kong, WuXi, Evergrande, RGC Resources

☆ Gold eyes 3rd weekly gain as lower inflation cements Fed cut bets
▼ + stars: | 2023-12-01 | by ( Harshit Verma | ) www.reuters.com time to read: +2 min

Spot gold rose 0.3% at $2,042.58 per ounce by 0621 GMT on Friday, and is up about 2% for the week so far. The metal rose $60 in November in its second straight monthly gain. Data on Thursday showed U.S. consumer spending rose moderately in October, while the annual increase in inflation was the smallest in more than 2-1/2 years. "However, month-end flow may have also been a factor, and seasonality tends to favour gains for gold between November and December," City Index's Simpson added. Spot silver and platinum edged up 0.1% to $25.29 and $927.44 per ounce, respectively, while palladium rose 0.4% to $1,011.65.

Persons: Alexander Manzyuk, Powell, Matt Simpson, CME's, Index's Simpson, Hugo Pascal, Harshit Verma, Nivedita Bhattacharjee, Mrigank Organizations: REUTERS, Federal, Reuters, Federal Reserve, Traders, U.S, Thomson Locations: Novosibirsk, Siberian, Russia, U.S, Bengaluru

☆ Gold holds ground ahead of US inflation test
▼ + stars: | 2023-11-30 | by ( Harshit Verma | ) www.reuters.com time to read: +2 min

An employee casts ingots of 99.99 percent pure gold at the Novosibirsk precious metals refining and manufacturing plant in the Siberian city of Novosibirsk, Russia, September 15, 2023. Spot gold was flat at $2,044.30 per ounce by 0728 GMT, trading in a range of about $6. It hit its highest since May 5 on Wednesday, and was poised for its second straight monthly gain. U.S. gold futures for December delivery fell 0.1% to $2,045.40 per ounce. Reporting by Harshit Verma in Bengaluru; Editing by Rashmi Aich, Mrigank Dhaniwala and Sonia CheemaOur Standards: The Thomson Reuters Trust Principles.

Persons: Alexander Manzyuk, Yeap Jun Rong, Jerome Powell, Harshit Verma, Rashmi Aich, Mrigank Dhaniwala, Sonia Cheema Organizations: REUTERS, PCE, U.S, Fed, Traders, Thomson Locations: Novosibirsk, Siberian, Russia, U.S, Bengaluru

☆ Morning Bid: November bids adieu with inflation data, OPEC
▼ + stars: | 2023-11-30 | by ( ) 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., September 26, 2023. With signs of turn emerging in Federal Reserve policy guidance and October PCE inflation readings set to encourage that later in the day, rate cut fever was in full flow across the Atlantic too. Headline annual inflation in the bloc fell as low as 2.4% - within arm's length of the ECB's 2% target. Later on Thursday, U.S. PCE inflation for the prior month is pencilled to fall 3.0% from 3.4% - with a core also ebbing to 3.5%. "Monetary policy is in a good place," Cleveland Fed President Loretta Mester said on Wednesday, echoing comments from previously hawkish Fed governor Christopher Waller the previous day.

Persons: Brendan McDermid, Mike Dolan, policymaker Fabio Panetta, Loretta Mester, Christopher Waller, John Williams, Christine Lagarde, Megan Greene, Kroger, Bernadette Baum Organizations: New York Stock Exchange, REUTERS, Treasury, Federal, European Central Bank, Bank of Italy, policymaker, U.S ., ECB, Cleveland Fed, Wall, OPEC, Dallas Fed, PMI, York Federal, Bank of England, Academy Sports, Rock Biotech, Titan, Reuters, Thomson Locations: New York City, U.S, China, Canada, Vienna, Automotive, Duluth, BOS, Jan

☆ Morning Bid: Waller to Wall St, Fed's on the turn
▼ + stars: | 2023-11-29 | by ( ) www.reuters.com time to read: +6 min

A street sign for Wall Street is seen in the financial district in New York, U.S., November 8, 2021. But back in the markets, the Fed's policy pivot was all the rage as Treasury yields and dollar plunged anew. New York Fed chief John Williams said long-term inflation expectations were anchored, reassuring and "remarkably stable". Fed futures now have the first Fed rate cut of a quarter point fully priced for May and 110bps of rate cuts by year-end. Two-year Treasury yields plunged more than 15 basis points to four-month lows of 4.66% on Wednesday, with 10-year yields hitting their lowest since mid-September - a startling drop of more than 75bps in little over a month.

Persons: Brendan McDermid, Mike Dolan, Wall, Charlie Munger, Berkshire Hathaway's Munger, Warren Buffett, Christopher Waller, Jerome Powell, Waller, John Williams, Austan Goolsbee, Michelle Bowman, Powell, Stocks, smartly, Hong, Thomas Barkin, Loretta Mester, Andrew Bailey, BoE, Andrew Hauser, Blinken, Sergey Lavrov, Jane Merriman Organizations: Wall, REUTERS, Federal Reserve, Waller . New York Fed, Chicago Fed, HK, Austria's, Holdings, Richmond Fed, Cleveland Fed, Bank of England, London, Russian, Foods, Intuit, Petco, Thomson, Reuters Locations: New York, U.S, Berkshire, Waller ., China, Europe, Vienna, North Macedonia

☆ Morning Bid: Treasuries gobbled up, oil braces for OPEC
▼ + stars: | 2023-11-28 | by ( ) www.reuters.com time to read: +5 min

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., November 17, 2023. Benchmark Treasury yields fell back more than 10 basis points to 4.37% after a total of $109 billion of 2 and 5-year notes hit the Street on Monday without much disruption. Another weak U.S. housing readout, with sub-forecast new home sales last month, perhaps flattered the post-auction moves. That's likely a mixed blessing for Federal Reserve watchers - the continued buoyancy of consumption but with increasing price discrimination. Fed futures priced about 85bps of rate cuts through next year, starting in June, though many major banks expect even more.

Persons: Brendan McDermid, Mike Dolan, That's, Hong, Louis, Christopher Waller, Michelle Bowman, Michael Barr, Austan Goolsbee, Christine Lagarde, Philip Lane, Dave Ramsden, BoE, Jonathan Haskel, Hewlett Packard, Ed Osmond Organizations: New York Stock Exchange, REUTERS, Treasuries, Treasury, Adobe Digital, Federal Reserve, Louis Fed, U.S . Treasury, Richmond Fed, Dallas Fed, . Treasury, Chicago Fed, European Central Bank, ECB, Bank of England, Citi Trends, Fluence Energy, Reuters, Reuters Graphics Reuters, Thomson Locations: New York City, U.S, Asia, Europe, United States, China, New York, St, Uxin, Canaan, Elbit

☆ Morning Bid: Stocks stall after VIX hits pre-COVID low
▼ + stars: | 2023-11-27 | by ( ) www.reuters.com time to read: +5 min

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., November 17, 2023. As U.S. markets return in earnest from the long Thanksgiving weekend, Friday's shortened session threw up a remarkable milestone. Ten-year Treasury yields hovered just under 4.50% first thing, about 10 basis points up from Wednesday's intraday low. Deutsche Bank on Monday said it expected a whopping 175bp of Fed rate cuts in 2024 as a mild recession there hits - leaving the policy rate at just 3.63% at yearend. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Brendan McDermid, Mike Dolan, Wall, Friday's, Jerome Powell, MSCI's, Christine Lagarde, Bernadette Organizations: New York Stock Exchange, REUTERS, Mike Dolan Global, Treasury, Federal Reserve, Fed, Deutsche Bank, Property, Zhongzhi Enterprise Group, Chaoyang Public Security, Health, Beijing, Exchange, Reuters, Beijing Stock Exchange, Dallas Fed, . Treasury, Central Bank, Sciences, Share, Graphics Reuters, Thomson Locations: New York City, U.S, China, yearend, Asia, European, Gaza, Beijing

☆ Gold scales 6-month peak on softer dollar, Fed pause bets
▼ + stars: | 2023-11-27 | by ( Harshit Verma | ) www.reuters.com time to read: +2 min

Spot gold was up 0.5% at $2,010.99 per ounce by 0758 GMT, after hitting its highest since May 16. U.S. gold futures rose 0.4% to $2,011.70. Reuters Graphics"What's moving gold at the moment is the lower U.S. dollar because of the recent soft data," said Kyle Rodda, a financial market analyst at Capital.com. The dollar index (.DXY) edged down 0.1% against its rivals, not far from a more than two-month low level touched last week, making gold less expensive for other currency holders. Recent data showing signs of slowing inflation in the U.S. has boosted expectations that the Fed could begin easing monetary conditions sooner than expected.

Persons: Alexander Manzyuk, Kyle Rodda, Rodda, CME's, Wang Tao, Harshit Verma, Janane Venkatraman, Sherry Jacob, Phillips Organizations: REUTERS, U.S, PCE, Federal, Reuters, Fed, Traders, Thomson Locations: Novosibirsk, Siberian, Russia, U.S, Bengaluru

☆ Morning Bid: Giving thanks you're not in China stocks
▼ + stars: | 2023-11-24 | by ( ) 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., September 26, 2023. A four-day ceasefire between Israel and Hamas appeared to be holding shakily on Friday with no major reports of attacks, although both sides were accused of violations. The decline marked yet another investor shrug at reports of further official moves to shore up China's ailing property sector. In Europe, data showed Germany's economy shrank slightly in the third quarter, confirming an initial estimate of a 0.1% fall. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Brendan McDermid, Mike Dolan, shrug, didn't, Christian Lindner, Geert Wilders, Luis de Guindos, Pablo Hernandez de Cos, Nick Macfie Organizations: New York Stock Exchange, REUTERS, Stock, Mainland Properties, Bloomberg, Nvidia, Finance, Britain's Barclays, Central Bank, Bank of Spain, PMI Reuters Graphics Reuters, Reuters, Thomson Locations: New York City, U.S, Wall, Israel, OPEC, United States, Friday's, Beijing, Taiwan, China, Europe, British

☆ Gold steadies; poised for second weekly gain on weaker dollar
▼ + stars: | 2023-11-24 | by ( Brijesh Patel | ) www.reuters.com time to read: +2 min

REUTERS/Alexander Manzyuk/File Photo Acquire Licensing RightsSummaryCompanies Gold up 0.7% so far this weekPlatinum eyes second weekly gainDollar heads for second weekly fallNov 24 (Reuters) - Gold held steady on Friday, set for its second consecutive weekly gain, supported by a weaker U.S. dollar as markets grew confident that the Federal Reserve was done with its interest rate hikes. The dollar index (.DXY) slipped 0.2% against its rivals and was on track for a second weekly drop, making gold less expensive for other currency holders. Earlier this week, the Fed minutes showed the central bank would proceed "carefully" and "all participants judged it appropriate to maintain" the current rate setting. "There is that disconnect between market expectations for rates and what the Fed minutes showed and that's what's causing some hesitation in the price of gold," Waterer said. Platinum was flat at $915.57, but was heading for its second weekly rise.

Persons: Alexander Manzyuk, Tim Waterer, CME's, Waterer, Brijesh Patel, Sherry Jacob, Phillips, Rashmi Organizations: REUTERS, Federal, KCM Trade, Thomson Locations: Novosibirsk, Siberian, Russia, U.S, Bengaluru

☆ Gold ticks higher as weaker US dollar, yields lend support
▼ + stars: | 2023-11-23 | by ( ) www.reuters.com time to read: +2 min

One kilo gold bars are pictured at the plant of gold and silver refiner and bar manufacturer Argor-Heraeus in Mendrisio, Switzerland, July 13, 2022. REUTERS/Denis Balibouse/File Photo Acquire Licensing RightsNov 23 (Reuters) - Gold prices edged higher on Thursday, hovering close to a key $2,000 per ounce level, as an overall weaker dollar and lower U.S. Treasury yields buoyed demand for bullion. FUNDAMENTALS* Spot gold was up 0.1% at $1,992.59 per ounce, as of 0143 GMT, after hitting a three-week high of $2,007.29 on Tuesday. * Lower interest rates decrease the opportunity cost of holding gold. DATA/EVENTS (GMT) 0745 France Business Climate Mfg, Overall Nov0815 France HCOB Mfg, Serv, Comp Flash PMIs Nov0830 Germany HCOB Mfg, Serv, Comp Flash PMIs Nov0900 EU HCOB Mfg, Serv, Comp Flash PMIs Nov0930 UK Flash Comp, Mfg, Serv PMIs NovReporting by Brijesh Patel in Bengaluru; Editing by Rashmi AichOur Standards: The Thomson Reuters Trust Principles.

Persons: Denis Balibouse, CME's, Serv, Brijesh Patel, Rashmi Organizations: REUTERS, Treasury, . Federal Reserve, Trust, Climate Mfg, France HCOB, Germany HCOB, Mfg, Thomson Locations: Mendrisio, Switzerland, France, Germany, Bengaluru

☆ Wall St edges higher before holiday, crude claws back initial loss
▼ + stars: | 2023-11-22 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

[1/3] A street sign for Wall Street is seen in the financial district in New York, U.S., November 8, 2021. While Wall Street's rally was modest but broad-based, energy stocks (.SPNY) were the clear outlier, falling in tandem with crude prices . But crude prices settled well above the day's lows. U.S. crude dipped 0.86% to settle at $77.10 per barrel, while Brent settled at $81.96, down 0.59% on the day. Gold prices dipped below the key $2,000 per ounce level in opposition to the dollar's strength.

Persons: Brendan McDermid, Ryan Detrick, Detrick, Sterling, Wall, Brent, Stephen Culp, Amanda Cooper, Deepa Babington Organizations: Wall, REUTERS, U.S, Nasdaq, Nvidia, Carson Group, Federal Reserve, Fed, Dow Jones, Japan's Nikkei, Treasury, OPEC, Thomson Locations: New York, U.S, China, Omaha, Asia, Pacific, Japan, OPEC, London

☆ Oil edges lower in choppy trade as OPEC+ delays meeting
▼ + stars: | 2023-11-22 | by ( Nicole Jao | ) www.reuters.com time to read: +3 min

The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. The delay stoked concerns that more production could come online from oil producers in the coming months, said Dennis Kissler, senior vice president of trading at BOK Financial. A rise in inventories also pressured prices lower on Wednesday morning, he said. U.S. crude oil inventories rose by 8.7 million barrels last week on higher imports, the Energy Information Administration (EIA) said. To support prices, OPEC and its allies will need to not only extend, but increase cuts, said John Evans of oil broker PVM in a note.

Persons: Angus Mordant, Dennis Kissler, John Evans, Nicole Jao, Paul Carsten, Ahmad Ghaddar, Laura Sanicola, Colleen Howe, Jason Neely, Marguerita Choy, David Gregorio, Deepa Babington Organizations: REUTERS, . West Texas, U.S, Organization of, Petroleum, BOK, Energy Information Administration, U.S ., greenback, Reuters, International Energy, Thomson Locations: Loving County , Texas, U.S, Brent, OPEC, Saudi Arabia, Russia

☆ US stocks edge higher ahead of holiday, crude tumbles
▼ + stars: | 2023-11-22 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

[1/3] A street sign for Wall Street is seen in the financial district in New York, U.S., November 8, 2021. All three major U.S. stock indexes were green ahead of the U.S. Thanksgiving holiday, with interest rate sensitive momentum stocks putting the tech-laden Nasdaq in the lead. "People feel good going into the Thanksgiving holiday," said Peter Tuz, president of Chase Investment Counsel in Charlottesville, Virginia. The pan-European STOXX 600 index (.STOXX) rose 0.36% and MSCI's gauge of stocks across the globe (.MIWD00000PUS) gained 0.11%. Emerging market stocks lost 0.57%.

Persons: Brendan McDermid, Peter Tuz, Tuz, Sterling, Brent, Stephen Culp, Amanda Cooper, Deepa Babington Organizations: Wall, REUTERS, U.S, Nvidia, Federal Reserve, Chase Investment, Dow Jones, Nasdaq, Japan's Nikkei, Treasury, Fed, Federal, Thomson Locations: New York, U.S, China, Charlottesville , Virginia, OPEC, Asia, Pacific, Japan, London

U.S. Dollar and Euro banknotes are seen in this illustration taken July 17, 2022. Deutsche Bank's CVIX (.DBCVIX) - the currency market's version of Wall St's "fear index" of stock volatility and a weighted average of implied "vol" in nine major pairings - has basically imploded. By driving short-term dollar cash rates and U.S. bond yields higher over the past 20 months, the Fed basically sucked cash from the wider investment world and supercharged dollar exchange rates everywhere. Now that it looks done, the buck's finally on the back foot - plumbing levels not seen since August. With implied volatility directionally biased, the dollar index and the CVIX are typically well correlated and both peaked in tandem in same month of September last year.

Persons: Dado Ruvic, Deutsche Bank's, Chris Turner, Francesco Pesole, BOJ, BOE, Marcelli, Morgan Stanley, Matthew Hornbach, David Evans Organizations: REUTERS, Deutsche, U.S, ING, Graphics Reuters, Reuters, Bank of Japan, European Central Bank and Bank of England, ECB, UBS Global Wealth, Treasury, Thomson Locations: Ukraine, U.S . Federal, Japan, U.S

☆ Morning Bid: AI buzzes but market shrugs at Nvidia beat
▼ + stars: | 2023-11-22 | by ( ) www.reuters.com time to read: +5 min

A trader works on the floor of the New York Stock Exchange shortly before the closing bell as the market takes a significant dip in New York, U.S., February 25, 2020. Remarkably, Nvidia managed to vault the sky-high bar for quarterly earnings, revenue and projections yet again in its latest update overnight. Bond volatility (.MOVE) has also fallen to two-month lows, while currency market 'vol' (.DBCVIX) is plumbing 20-month lows. CONCERN OVER HOME SALES, HOLIDAY SEASON SALESNews of a drop in U.S. existing home sales last month to a 13-year low was perhaps as important as the Fed minutes - as was warnings from more major U.S. retailers, this time Best Buy and Nordstrom, about sticky holiday season sales and the need for discounting. The dollar (.DXY) was a touch higher on Wednesday, meantime, with most overseas stock markets firmer too.

Persons: Lucas Jackson, Mike Dolan, thrall, OpenAI, Sam Altman, Changpeng Zhao, October's, Jeremy Hunt's, underperformed, Jeremy Hunt, Bernadette Baum Organizations: New York Stock Exchange, REUTERS, U.S, Nvidia, Federal, Nordstrom, University of Michigan, Bank of Canada, Treasury, Deere, Reuters Graphics Reuters, Thomson, Reuters Locations: New York, U.S, Gaza, China, yearend, York, Beijing

☆ Morning Bid: Catching breath as Nvidia update due
▼ + stars: | 2023-11-21 | by ( ) www.reuters.com time to read: +5 min

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., November 17, 2023. The dollar (.DXY) continued to fall, however, with its DXY index down for the fourth day to its lowest since August. Dollar losses were broad based, but China's yuan appeared to lead the way to its strongest level since July 27. In Europe, sterling pushed higher ahead of expected tax cuts at Wednesday's budget speech from UK finance minister Jeremy Hunt. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Brendan McDermid, Mike Dolan, Sam Altman, OpenAI, hoover, LSEG, Jeremy Hunt, Siena, Christine Lagarde, Isabel Schnabel, Susan Fenton Organizations: New York Stock Exchange, REUTERS, Microsoft, Tech, Nvidia, St, Wall, Treasury, Reserve, Bank of, Monday, Philadelphia Federal, European Central Bank, ECB, Lowes, Autodesk, Devices, Jacobs Solutions Reuters Graphics Reuters, Reuters, Thomson Locations: New York City, U.S, Bank of China, China, St, Europe, Britain, Italy, Chicago, Canada

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