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read more"The Fed is getting some traction on its message that the inflation pressures are transitory," said Colin Asher, senior economist at Mizuho in London. Fed officials have repeatedly tamped down fears of inflation running persistently higher than its 2% target, while pointing out they have tools to keep it under control. The statement following the Fed policymakers' regular meeting next week and comments from Fed Chair Jerome Powell will be closely watched for the central bank's latest view on inflation. A widely watched barometer of inflation expectations, the breakeven inflation rate (BEI) for 10-year Treasury Inflation Protected Securities , measuring the difference between 10-year TIPS real yields and the 10-year note yield, was at 2.35%, near a two-month low of 2.326% hit on Wednesday. That indicates that markets do not see inflation averaging much over the Fed's 2% target over the next decade.
Persons: Colin Asher, Jerome Powell, Peter Rutter, Joseph LaVorgna, Mark Grant, Organizations: Federal, Treasury, Thursday's Labor Department, Mizuho, Fed, Royal London Asset Management, Securities, Riley, Labor Department, Thomson Locations: U.S, London, Americas, New York, Fort Lauderdale , Florida
US STOCKS-Wall Street set for flat open as consumer prices jump
  + stars: | 2021-06-10 | by ( Ambar Warrick | ) www.reuters.com + 0.00   time to read: +3 min
(For a live blog on the U.S. stock market, click or type LIVE/ in a news window.) The Labor Department said its consumer price index increased 0.6% last month after surging 0.8% in April. The labor market and inflation are two key factors for the Fed to consider tightening, and while inflation has risen, recent payrolls data was underwhelming. A separate report on Thursday from the Labor Department showed the number of Americans filing for jobless claims fell less than expected last week. Focus was also on a major infrastructure spending bill, talks over which hit a deadlock in the Senate.
Persons: , Mark Grant, Ambar Warrick, Maju Samuel Organizations: Boeing, Dow, Nasdaq, Federal Reserve, Labor Department, CPI, Riley, Fed, Dow E, Clover Health, GameStop Corp, Securities and Exchange Commission, Reuters United Airlines, Airbus, Ocugen Inc Locations: Bengaluru
Wall Street set for flat open as consumer prices jump
  + stars: | 2021-06-10 | by ( Ambar Warrick | ) www.reuters.com + 0.00   time to read: +3 min
Morning sunlight falls on the facade of the New York Stock Exchange (NYSE) building after the start of Thursday's trading session in Manhattan in New York City, New York, U.S., January 28, 2021. REUTERS/Mike Segar/File PhotoU.S. stock indexes were set for a muted open on Thursday as a surge in consumer prices in May fanned fears of early policy tightening by the Federal Reserve, while another report showed the labor market remained under pressure. The Labor Department said its consumer price index increased 0.6% last month after surging 0.8% in April. A separate report on Thursday from the Labor Department showed the number of Americans filing for jobless claims fell less than expected last week. read moreFocus was also on a major infrastructure spending bill, talks over which hit a deadlock in the Senate.
Persons: Mike Segar, Mark Grant Organizations: New York Stock Exchange, REUTERS, Federal Reserve, Labor Department, CPI, Riley, Fed, Dow E, Nasdaq, Clover Health, GameStop Corp, Securities and Exchange Commission, Boeing, Reuters United Airlines, Airbus, Thomson Locations: Manhattan, New York City , New York, U.S
The Labor Department said its consumer price index increased 0.6% last month after surging 0.8% in April. The labor market and inflation are two key factors for the Fed to consider tightening, and while inflation has risen, recent payrolls data was underwhelming. ET, the Dow Jones Industrial Average (.DJI) was up 230.84 points, or 0.67%, at 34,677.98, the S&P 500 (.SPX) was up 27.27 points, or 0.65%, at 4,246.82. read moreAdvancing issues outnumbered decliners by a 2.55-to-1 ratio on the NYSE and a 2.17-to-1 ratio on the Nasdaq. The S&P index recorded 38 new 52-week highs and no new low, while the Nasdaq recorded 58 new highs and six new lows.
Persons: Mike Segar, Mark Grant, Scott Brown, Raymond James Organizations: New York Stock Exchange, REUTERS, Federal Reserve, Labor Department, CPI, Riley Financial, Fed, Dow Jones, Nasdaq, Clover Health, AMC, GameStop Corp, Securities and Exchange Commission, Boeing, Reuters United Airlines, Airbus, NYSE, Thomson Locations: Manhattan, New York City , New York, U.S, St . Petersburg , Florida
S&P 500 brushes off rising inflation to hit record high
  + stars: | 2021-06-10 | by ( Ambar Warrick | ) www.reuters.com + 0.00   time to read: +3 min
REUTERS/Mike Segar/File PhotoU.S. stocks rose on Thursday and the S&P 500 hit a record intraday high as investors juggled signs of a swift economic recovery with concerns over the Federal Reserve tapering its massive monetary stimulus. The S&P 500 (.SPX) hit a record high of 4,249.74. ET, the Dow Jones Industrial Average (.DJI) was up 123.39 points, or 0.36%, at 34,570.53 and the S&P 500 (.SPX) was up 18.18 points, or 0.43%, at 4,237.73. read moreAdvancing issues outnumbered decliners by a 2.55-to-1 ratio on the NYSE and a 2.17-to-1 ratio on the Nasdaq. The S&P index recorded 48 new 52-week highs and no new lows, while the Nasdaq recorded 72 new highs and nine new lows.
Persons: Mike Segar, Mark Grant, Christine Lagarde Organizations: New York Stock Exchange, REUTERS, Labor Department, CPI, Riley, Dow Jones, Nasdaq, European Central Bank, Clover Health, AMC, GameStop Corp, SEC, Boeing, Reuters United Airlines, Airbus, NYSE, Thomson Locations: Manhattan, New York City , New York, U.S
"The Fed is getting some traction on its message that the inflation pressures are transitory," said Colin Asher, senior economist at Mizuho in London. Fed officials have repeatedly tamped down fears of inflation running persistently higher than its 2% target, while pointing out they have tools to keep it under control. The statement following the Fed policymakers' regular meeting next week and comments from Fed Chair Jerome Powell will be closely watched for the central bank's latest view on inflation. A widely watched barometer of inflation expectations, the breakeven inflation rate (BEI) for 10-year Treasury Inflation Protected Securities , measuring the difference between 10-year TIPS real yields and the 10-year note yield, was at 2.35%, near a two-month low of 2.326% hit on Wednesday. That indicates that markets do not see inflation averaging much over the Fed's 2% target over the next decade.
Persons: Colin Asher, Jerome Powell, Peter Rutter, Joseph LaVorgna, Mark Grant, Organizations: Federal, Treasury, Thursday’s Labor Department, Mizuho, Fed, Royal London Asset Management, Securities, Riley, Labor Department, Thomson Locations: U.S, London, Americas, New York, Fort Lauderdale , Florida
Fed won't taper until 2023, says B. Riley FBR's Mark Grant
  + stars: | 2021-05-17 | by ( ) www.cnbc.com sentiment -1.00   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFed won't taper until 2023, says B. Riley FBR's Mark GrantStock futures were slightly lower early on Monday following last week’s sell-off triggered by inflation jitters. Mark Grant, chief global market strategist at B. Riley FBR, joined "Squawk Box" on Monday to discuss the Fed's monetary policy decisions and what he's watching in the markets this week.
Persons: Riley FBR's Mark Grant, Mark Grant, Riley FBR Organizations: Riley FBR's Mark Grant Stock
A trader walks outside the New York Stock Exchange in New York City, U.S., April 26, 2021. REUTERS/Shannon StapletonWith more than half of S&P 500 companies having already reported results so far, profits are seen rising 46% in the first quarter, compared with forecasts of 24% growth at the start of April, according to IBES data from Refinitiv. Megacap technology stocks rose in premarket trading, with Apple Inc, Amazon.com Inc, Alphabet Inc, and Microsoft Corp adding between 0.2% and 0.7% after posting largely upbeat results in the prior week. Improving economic data, strong earnings, fiscal stimulus and the Federal Reserve’s ultra accommodative stance have supported markets, pushing the S&P 500 and the Nasdaq indexes to record levels last week. ET, Dow e-minis were up 181 points, or 0.54%, S&P 500 e-minis were up 20.25 points, or 0.49%, and Nasdaq 100 e-minis were up 50 points, or 0.36%.
Persons: Shannon Stapleton, , Mark Grant, Riley FBR, Estee Organizations: Reuters, New York Stock Exchange, REUTERS, Apple Inc, Amazon.com, Inc, Microsoft Corp, Federal, Labor, Dow e, Nasdaq, Tesla, Moderna Inc, Companies Locations: New York City, U.S, Refinitiv, Fort Lauderdale , Florida, China
(Reuters) - Wall Street’s main indexes rose on Monday after a week of largely upbeat earnings strengthened expectations of sustained profit growth for companies, while some high-flying growth stocks lagged a broader rally. Nine of the 11 major S&P 500 sectors climbed in early trading, with economy-sensitive cyclical stocks, including financials, energy, industrials, and materials, leading the gains. Megacap technology stocks, including Apple Inc, Amazon.com Inc, Alphabet Inc, and Microsoft Corp, traded mixed despite posting largely upbeat results last week. “The catalysts are strong for a sell-in-May strategy with the hot start to 2021,” said Jeff Carbone, managing partner for Cornerstone Wealth. The S&P index recorded 61 new 52-week highs and no new low, while the Nasdaq recorded 77 new highs and 26 new lows.
Persons: Shannon Stapleton, , Mark Grant, Riley FBR, Jeff Carbone, Estee Organizations: Reuters, New York Stock Exchange, REUTERS, Nasdaq, Apple Inc, Amazon.com, Inc, Microsoft Corp, Cornerstone Wealth, Federal, Labor, Dow Jones, Tesla, Moderna Inc, Companies, NYSE Locations: New York City, U.S, Refinitiv, Fort Lauderdale , Florida, China
A trader walks outside the New York Stock Exchange in New York City, U.S., April 26, 2021. With more than half of S&P 500 companies having already reported results so far, profits are seen rising 46% in the first quarter, compared with forecasts of 24% growth at the start of April, according to IBES data from Refinitiv. Improving economic data, strong earnings, fiscal stimulus and the Federal Reserve's ultra accommodative stance have supported markets, pushing the S&P 500 (.SPX) and the Nasdaq (.IXIC) indexes to record levels last week. Data on Monday is expected to show a slight rise in national factory activity, while a reading of the Labor Department's non-farm payrolls data is slated to be released on Friday. ET, Dow e-minis were up 181 points, or 0.54%, S&P 500 e-minis were up 20.25 points, or 0.49%, and Nasdaq 100 e-minis were up 50 points, or 0.36%.
Persons: Shannon Stapleton, Mark Grant, Riley FBR, Estee Organizations: New York Stock Exchange, REUTERS, Apple Inc, Amazon.com Inc, Inc, Microsoft Corp, Federal, Nasdaq, Labor, Dow e, Tesla Inc, Reuters, Companies Inc, Thomson Locations: New York City, U.S, Fort Lauderdale , Florida, China
Market strategist explains what is driving equities higher
  + stars: | 2020-12-14 | by ( ) www.cnbc.com sentiment -0.64   time to read: 1 min
Market strategist explains what is driving equities higherU.S. stock futures moved higher early on Monday as markets indicated a rebound from a losing week. Investors were optimistic as the Covid-19 vaccine rollout began and as Washington D.C. appeared a bit closer to a relief package. Mark Grant, chief global market strategist at B. Riley Wealth Management, joined CNBC's "Squawk Box" to discuss.
Persons: Mark Grant Organizations: Washington D.C, Riley Wealth Management
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