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Natixis's Esty Dwek and Stifel's Barry Bannister on the Fed and market outlook
  + stars: | 2021-06-14 | by ( ) www.cnbc.com sentiment -0.91   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNatixis's Esty Dwek and Stifel's Barry Bannister on the Fed and market outlookEsty Dwek, Natixis head of global market strategy, and Barry Bannister, Stifel chief equity strategist, join 'Squawk on the Street' to discuss their expectations from the Federal Reserve and if they see a Treasury sell-off this week.
Persons: Stifel's Barry Bannister, Esty, Barry Bannister Organizations: Fed, Federal Reserve
The Fed could be facing a jobs headache in its inflation fight
  + stars: | 2021-06-11 | by ( Jeff Cox | ) www.cnbc.com + 0.00   time to read: +7 min
Those higher salaries in turn will trigger higher prices and could lead to the kinds of longer-term inflationary above-normal pressures that the Fed is trying to avoid. "Whatever is happening here, the Fed needs large numbers of these people to return to the labor force in the fall." In their most recent forecast, Fed officials put core inflation at 2.2% for all of 2021; Shepherdson said the current numbers suggest something closer to 3.5%. While LaVorgna sees inflation as staying relatively under control, he thinks the Fed could face problems from deflationary pressures. The central bank doesn't like inflation that's too low, as it creates a low-expectation cycle that constricts monetary policy during downturns.
Persons: Mike Blake, Ian Shepherdson, Shepherdson, Coursera, David Wilkinson, Wilkinson, Joseph LaVorgna, LaVorgna, Michael Pearce, Leah Millis Organizations: KB, Reuters, U.S . Labor Department, Pantheon, Fed, CPI, NCR, NCR Retail, Americas, National Economic Council, Treasury, University of Michigan, Capital Economics, Federal Reserve Board Locations: Valley Center , California, Atlanta, Natixis, Washington , U.S
MSCI’s benchmark, the S&P 500 and a key European index surged to record highs after the U.S. Labor Department said the consumer price index in the 12 months ended in May accelerated 5.0%, the biggest year-on-year increase since August 2008. In a sign of market complacency, the 10-year U.S. Treasury note’s yield fell 1.2 basis points to 1.4772% after earlier rising above 1.5% following the data’s release. On Wall Street, the Dow Jones Industrial Average rose 0.35%, the S&P 500 gained 0.45% and the Nasdaq Composite added 0.49%. A surprisingly strong U.S. inflation print in April spooked investors, sparking a cautious run into Thursday’s of May data. Short positions in Treasuries were the highest since 2018, according to JP Morgan positioning data last week.
Persons: Subadra Rajappa, ” Rajappa, Joseph LaVorgna, ” LaVorgna, , , MSCI’s Organizations: U.S . Labor Department, Treasury, Societe Generale, Americas, Dow Jones, Nasdaq, European Central Bank, Morgan Locations: New York, Natixis, U.S, Treasuries
Stocks rally, dollar stable after jump in U.S. CPI data
  + stars: | 2021-06-10 | by ( Herbert Lash | Simon Jessop | ) www.reuters.com + 0.00   time to read: +3 min
FILE PHOTO: The London Stock Exchange Group offices are seen in the City of London, Britain, December 29, 2017. REUTERS/Toby Melville/File Photo/File PhotoMSCI’s all-country world index surged to a record intra-day high after the U.S. Labor Department earlier said the consumer price index in the 12 months through May accelerated 5.0%, the biggest year-on-year increase since August 2008. The benchmark 10-year U.S. Treasury yield rose 3.0 basis points to 1.5194% after the data’s release, while the dollar index was essentially flat, down 0.08%. A surprisingly strong U.S. inflation print in April spooked some investors, leading to a cautious run into the release on Thursday of the May data. Short positions in Treasuries were the highest since 2018, according to JP Morgan positioning data last week.
Persons: Toby Melville, Subadra Rajappa, ” Rajappa, Joseph LaVorgna, ” LaVorgna, , Organizations: London Stock Exchange Group, City of, REUTERS, U.S . Labor Department, Treasury, Societe Generale, Americas, Dow Jones, Nasdaq, Atlantic, European Central Bank, Morgan Locations: City, City of London, Britain, New York, Natixis, COVID, U.S, Treasuries
Stocks rally, yields drop as U.S. CPI data calms investors
  + stars: | 2021-06-10 | by ( Herbert Lash | ) www.reuters.com + 0.00   time to read: +4 min
The report was largely in line with expectations, said Subadra Rajappa, head Of U.S. rates strategy at Societe Generale in New York. “The (equity) market is going to ignore the data. MSCI’s all-country world index rose 0.45% to 718.81, nudging past its previous record set Tuesday. In the United States, data showed people filing new claims for unemployment benefits fell last week to the lowest level in nearly 15 months. The dollar index fell 0.071%, with the euro down 0.07% to $1.217.
Persons: Toby Melville, Subadra Rajappa, ” Rajappa, Joseph LaVorgna, ” LaVorgna, , MSCI’s, Thomas Hayes, ” Hayes, , Brent Organizations: YORK, Global, London Stock Exchange Group, City of, REUTERS, U.S . Labor Department, Societe Generale, Treasury, Americas, European Central Bank, Dow Jones, Nasdaq, Great, Great Hill Capital, ECB, U.S, West Texas Locations: City, City of London, Britain, New York, Natixis, Great Hill, United States
GLOBAL MARKETS-Stocks hover near highs as bond yields dip
  + stars: | 2021-06-09 | by ( Herbert Lash | Tom Arnold | ) www.reuters.com + 0.00   time to read: +5 min
The yield on benchmark 10-year U.S. Treasury notes fell 3.2 basis points to 1.4958%, down from 1.528% late on Tuesday. Yields plunged as traders in part were forced to unwind short positions in Treasuries, said Joe LaVorgna, chief economist of the Americas at Natixis. MSCI’s all-country world index, a U.S.-centric benchmark for global equity markets, rose 0.01% to 717.04, down a little more than 1 point from a record peak on Tuesday. “I therefore see potential for a higher print to push real yields and shorter-dated yields higher, thus flattening the curve and boosting the dollar,” Athey said. The dollar held at the lower end of recent gains, with the U.S. dollar index down slightly at 90.031.
Persons: Joe, Sebastien Galy, Joe LaVorgna, , Biden, ” LaVorgna, MSCI’s, , Naokazu Koshimizu, James Athey, ” Athey Organizations: Democratic, Nordea Asset Management, Treasury, Dow Jones, Nasdaq, European Central Bank, Britain’s FTSE, Nikkei, Nomura Securities, Federal Reserve, Aberdeen Standard Investments, U.S, Deutsche, Brent Locations: U.S, Treasuries, Natixis, Europe, Asia, Pacific, Japan, China, Beijing
Stocks hover near highs as bond yields dip
  + stars: | 2021-06-09 | by ( Herbert Lash | Tom Arnold | ) www.reuters.com + 0.00   time to read: +4 min
NEW YORK/LONDON (Reuters) - World stocks hovered near record highs and U.S. bond yields fell on Wednesday as some of U.S. President Joe Biden’s stimulus efforts appeared to be on the rocks, boosting the appeal of technology stocks as inflation pressures ease. The yield on benchmark 10-year U.S. Treasury notes fell 3.7 basis points to 1.4908%, down from 1.528% late on Tuesday. MSCI’s all-country world index, a U.S.-centric benchmark for global equity markets, fell 0.06% to 716.53, down a little more than 1 point from a record peak on Tuesday. The pan-regional STOXX Europe 600 index rose 0.1% to a new record close, but shy of all-time peak on Tuesday. CURRENCIES STEADYInflation data from China showed its producer price index jumped 9.0% from a year earlier, the highest in over 12 years, on surging commodity prices.
Persons: Joe, Brendan McDermid, Elizabeth MacDonough, Sebastien Galy, Joe LaVorgna, , Biden, ” LaVorgna, MSCI’s, Dennis Dick, ” Dick, Britain’s, IAG Organizations: New York Stock Exchange, REUTERS, Senate, Democratic, Nordea Asset Management, Treasury, Dow Jones, Nasdaq, Bright Trading, Apple, GameStop, European Central Bank, Britain’s FTSE, Air France KLM, Lufthansa, British Airways, U.S . Centers for Disease Control, Prevention, Nikkei, Thursday’s, U.S, Deutsche, Brent Locations: U.S, New York City, Treasuries, Natixis, Europe, Asia, Pacific, Japan, Thursday’s U.S, China, Beijing
“Higher interest rates in and of themselves are not necessarily good for consumers. “To get rates higher, you need to have a robust economy.”The pandemic’s impact on consumer behavior distorted spending on durable goods by pulling it forward, LaVorgna said. Higher interest rates could ripple through the housing market — which is already facing higher prices driven by supply constraints — and lead to higher borrowing costs across the board. If the Fed had to sharply hike interest rates to rein in inflation, borrowers could see the cost of servicing their revolving debt jump, too. In the past, “monetary policy was seen as the primary force of economic growth,” but today, “there are limits in a low rate world of what monetary policy can do,” he said.
Persons: Joe Biden’s, Janet Yellen, ” Yellen, “ We’ve, Jerome Powell, , Ben Koltun, that's, Joseph LaVorgna, , LaVorgna, Ted Rossman, we've, ” Koltun, Biden, Yellen, “ They’re, Larry Summers, Summers, “ It’s Organizations: Bloomberg, Federal, Beacon Policy Advisors, Democratic, Federal Reserve, American Jobs Plan, American Families, Treasury, National Economic, Treasury Department Locations: Natixis, U.S, Washington
The pandemic is not the only reason for the chip shortage: Economist
  + stars: | 2021-06-06 | 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 EmailThe pandemic is not the only reason for the chip shortage: EconomistAlicia Garcia-Herrero of Natixis explains why she expects to see overcapacity in the production of lower-end types of chips, and why semiconductors relevant to electric vehicles and 5G may face inflationary pressures.
Persons: Alicia Garcia, Natixis
"Those chips that for which I am expecting overcapacity, are the kind of lower-end chips," she told CNBC on Thursday. Car makers have been hit hardest by the shortage, but the crisis affects everything from gaming consoles to televisions. The global chip shortage is causing problems for multiple industries and shows no signs of abating , but don't expect prices for all types of chips to shoot up, says the Asia-Pacific chief economist of research firm Natixis. The ongoing shortage was partly driven by companies stockpiling as the pandemic swept across the world and supply fears grew. Both the U.S. government and the tech sector have pushed to boost the country's semiconductor manufacturing capabilities as a hedge against this risk.
Persons: Alicia Garcia, Garcia, Herrero Organizations: CNBC, Semiconductor Manufacturing International Corporation, U.S Locations: China, Asia, Pacific, U.S, Taiwan, South Korea
U.S. mortgage applications tick down as refinance activity declines -MBA
  + stars: | 2021-05-26 | by ( Evan Sully | ) www.reuters.com sentiment -0.98   time to read: +1 min
May 26 (Reuters) - Mortgage applications decreased last week as fewer homeowners sought to refinance their loans, offsetting a modest rise in applications for loans to buy homes. The Mortgage Bankers Association (MBA) said on Wednesday its seasonally adjusted Purchase Index decreased 4.2% in the week ended May 21 from a week earlier, reflecting a 7.2% decline in applications for refinancing. The purchase index increased 1.7% from a week earlier. Last week, the National Association of Realtors reported that home resales dropped for a third straight month in April. The sector is so strong, there simply is not enough available supply,” said Joseph Lavorgna, chief U.S. economist at Natixis CIB.
Persons: ” Joel Kan, , Joseph Lavorgna Organizations: Mortgage Bankers Association, Commerce Department, National Association of Realtors, Natixis CIB Locations:
EU antitrust regulators fine Nomura, UBS, UniCredit 371 million euros
  + stars: | 2021-05-20 | by ( Reuters Staff | ) www.reuters.com sentiment -1.00   time to read: +1 min
FILE PHOTO: European Union flags flutter outside the EU Commission headquarters in Brussels, Belgium May 5, 2021. REUTERS/Yves HermanBRUSSELS (Reuters) - EU antitrust regulators on Thursday fined Nomura, UBS and UniCredit a total of 371 million euros ($452 million) for taking part in a European governments bonds trading cartel. The European Commission said Bank of America, RBS (now known as NatWest, Natixis and WestLB (now known as Portigon) also took part in the cartel. Natwest escaped a fine as it alerted the cartel to the EU competition watchdog. Bank of America and Natixis were also not fined either because their infringement falls outside the limitation period for imposition of fines, the Commission said.
Persons: Yves Herman BRUSSELS, Nomura, WestLB Organizations: EU, REUTERS, UBS, UniCredit, European Commission, Bank of America, RBS, NatWest, Natixis, Natwest Locations: Brussels, Belgium
Sectors to watch as inflation fears spook U.S. markets
  + stars: | 2021-05-13 | by ( Lewis Krauskopf | ) www.reuters.com + 0.00   time to read: +5 min
REUTERS/Brendan McDermidInflation talk grew on Wednesday as data showed U.S. consumer prices increased by the most in nearly 12 years in April. “Some inflation for companies and markets are healthy,” said Keith Lerner, chief market strategist at Truist Advisory Services. Here are some stocks groups to watch as inflationary concerns rise:REFLATION VS INFLATION: Investors anticipating an economic rebound from the coronavirus pandemic have moved into cyclical sectors expected to see profits pick up in a “reflationary” environment. Broadly, consumer staples companies are seen by some strategists as relatively well equipped to pass through price increases. “It’s not inflation, per se; it’s inflation and the implications for interest rates,” said Jack Ablin, chief investment officer at Cresset Capital Management.
Persons: Brendan McDermid, , Keith Lerner, , Jack Janasiewicz, Consumer Staples, Michael O’Rourke, Gamble Co, Jack Ablin Organizations: YORK, New York Stock Exchange, REUTERS, Advisory, UBS, Treasury, Securities, BCA Research, Natixis Investment, BCA, Companies, Activision Blizzard, Abercrombie, Fitch, Consumer, Procter, Gamble, TECH, Tech, Cresset Capital Management Locations: New York City, U.S, United States
Upgrades of Asian corporate earnings at highest in five months - Refinitiv data
  + stars: | 2021-05-10 | by ( Gaurav Dogra | ) www.reuters.com sentiment -0.99   time to read: +2 min
(Reuters) - Analysts in April hiked 12-month earnings estimates for Asian companies by the largest amount in five months, data showed, as manufacturing activity and demand for the region’s exports rose. FILE PHOTO: A truck drives between shipping containers at a container terminal at Incheon port in Incheon, South Korea, May 26, 2016.REUTERS/Kim Hong-JiAnalysts lifted forward 12-month earnings by 3.2% in April, the highest since December, according to Refinitiv data. “Stronger consumption and investment demand in the developed economies have boosted commodity prices and the revenues of the North Asian exporters,” Raychaudhuri said. Taiwan and South Korea saw earnings upgrades of 8.6% and 6.9% respectively in the past month, while Australia and China saw upgrades of 4.3% and 1.4%. MSCI’s Asia-Pacific index gained 1.4% in April, but the forward 12-month price to earnings ratio dropped to a six-month low of 16.51 at the end of April, reflecting the rise in earnings estimates.
Persons: Kim Hong, Manishi Raychaudhuri, ” Raychaudhuri, , Alicia Garcia Herrero Organizations: Reuters, REUTERS, Ji, BNP, Natixis Locations: Incheon, South Korea, Taiwan, Vietnam, Asia, Pacific, Australia, China, India, Indonesia, Philippine, MSCI’s Asia, United States
Paget MacColl joined Blackstone as global head of Blackstone Alternative Asset Management's (BAAM) institutional client solutions, according to a press release. Bank of America hired two veteran volatility traders to run trading teams on its equity derivatives desk, Insider reported. Kate El-Hillow , who previously held several senior investment leadership roles at Goldman Sachs Asset Management , joined as global chief investment officer. Divya Nettimi left Ole Andreas Halvorsen 's $44 billion hedge fund Viking Global , Insider reported. UBS announced two senior appointments within its new sustainability and impact organization in a press release.
Persons: Richard Cordray, Education Miguel Cardona, Cordray, Timothy Massad, Obama, Paget MacColl, Blackstone, MacColl, John Dalby, Dalby, Shaw, Kevin Brunner, Ivan Farman, Brunner, Farman, Patrick Ramsey, Steve Baronoff, Ramsey, Matthew Koder, James Reid, Melissa Goldman, Reid, Lori Beer, Goldman, Stephen Bruel, Harriman, Neal Holland, Holland, Johannes, Johs, Worsoe, Ommeed, Sathe, Bob Chen, Chen, Tyler Lifton, Spencer Cross, Cross, Giannopoulos, Morgan Stanley, Derek Brannon, Thomas Hauch, Russell, Kate El, Kevin Klingert, Brian Sheth, Ira Cohen, Cohen, Chris Weber, Beatriz Da Cunha, Sallie Mae, Lori Aiken, Divya Nettimi, Ole Andreas Halvorsen, Nettimi, Suni Harford, Michael Baldinger, Phyllis Costanza, Point72, Ryan Zaborske, REITs, Meredith Mazzilli, Carter Johnson, Bradley Saacks, Alex Morrell, Rebecca Ungarino Organizations: intel, US Department of Education, Education, Consumer Financial Protection Bureau, Cordray, US, Futures, Commission, Blackstone, Goldman Sachs Asset Management, NYDIG, Bridgewater Associates, Bridgewater, UBS, Bank of America, Tuesday, Bloomberg, Bank, JPMorgan, Coalition Greenwich, The, Mitsubishi UFJ Financial, MUFG Americas Holdings Corporation, MUFG Union Bank, NA, Union, Prudential, Guggenheim Securities, Natixis Securities, Capula Investment Management, Sculptor Capital Management, Russell Investments, Morgan Stanley Investment Management, Vista Equity Partners, Sangreal Foundation, BlackRock, World Wildlife Fund, BlackRock Sustainable Investing's, Viking Global, Viking, UBS Asset Management, Optimus Foundation, Citadel Locations: Ohio, New York, Americas, D.E, Brown, Lafayette, BofA, BlackRock, Stamford
REUTERS/Lucas JacksonInstead, those fund managers say that they are continuing to rotate into value and cyclical stocks - whose fortunes are closely tied to economic conditions - in anticipation that the economic recovery will be longer and more gradual than originally anticipated. The lower-than-expected job gains are likely to keep the Federal Reserve’s accommodative measures in place for an extended period, economists said. Despite Friday’s gains, large-cap technology companies continue to lag the broad market. Instead, value companies in such cyclical areas such as financials, energy, and consumer discretionary are surging. Funds that have remained heavy in growth stocks jumped Friday, with the ARK Innovation ETF adding 1.4% by mid-afternoon.
Persons: Lucas Jackson, Barry James, , Sameer Samana, , Jack Janasiewicz, George Young, Young Organizations: YORK, New York Stock Exchange, REUTERS, Labor Department, James Investment Research, , Treasury, Wells, Wells Fargo Investment Institute, Apple Inc, Inc, Netflix Inc, Russell, Natixis Advisors, Funds, ARK, Villere, Caesars Entertainment Inc Locations: Wall, New York City , New York, U.S, Wells Fargo
Instead, those fund managers say that they are continuing to rotate into value and cyclical stocks - whose fortunes are closely tied to economic conditions - in anticipation that the economic recovery will be longer and more gradual than originally anticipated. The lower-than-expected job gains are likely to keep the Federal Reserve’s accommodative measures in place for an extended period, economists said. Despite Friday’s gains, large-cap technology companies continue to lag the broad market. Instead, value companies in such cyclical areas such as financials, energy, and consumer discretionary are surging. Funds that have remained heavy in growth stocks jumped Friday, with the ARK Innovation ETF adding 1.4% by mid-afternoon.
Persons: Barry James, , Sameer Samana, , Jack Janasiewicz, George Young, Young, David Randall, Megan Davies, Nick Zieminski Organizations: YORK, Labor Department, James Investment Research, , Treasury, Wells, Wells Fargo Investment Institute, Apple Inc, Inc, Netflix Inc, Russell, Natixis Advisors, Funds, ARK, Villere, Caesars Entertainment Inc Locations: Wells Fargo
According to economists, this is a clear sign that there are still giant holes in America’s economic recovery and that the coronavirus remains in the driver’s seat. The severity and duration of the pandemic has led to countless small business closures, leaving workers without a job to return to as the recovery takes hold. Starting from a February 2020 baseline of roughly 152.5 million jobs, the U.S. would have just over 155.1 million jobs as of last month. For much of the missing service-sector jobs to return, Americans will have to be willing to eat out, get their hair cut, visit movie theaters and attend sporting events again. More money for education and training, experts said, could help speed the return of marginalized populations back into labor market.
Persons: , , Jeff Strohl, ” Strohl, Joseph LaVorgna, Steve Rick, ” LaVorgna, “ There’s, Joe Biden’s, ” Rick, Karen Fichuk Organizations: Georgetown University Center, Education, Commerce Department, Office, Economic Policy Institute, CUNA Mutual Locations: U.S, Natixis, North America
U.S. April payrolls gain much smaller than expected
  + stars: | 2021-05-07 | by ( Reuters Staff | ) www.reuters.com + 0.00   time to read: +5 min
MARKET REACTION:STOCKS: S&P e-mini futures slightly extended gains and were up 0.38%, pointing to a higher open on Wall Street. Nasdaq futures surged even higher, showing a gain of 1.34%, while Dow Jones futures turned slightly lower. The economy is booming, and the labor market recovery is still ongoing, although it might be losing a little bit of steam. “This year’s growth is still great; the labor market is still going to recover. Yields going down and higher yields have had a negative effect on the Nasdaq.
Persons: Matt Dillion, Chad Damron, Eileen T, Dow Jones, JOSEPH LAVORGNA, NATIXIS, ” PETER CARDILLO, “ It’s, aren’t, SAMEER SAMANA, WELLS, ” “, ” GUY LEBAS, JANNEY, Organizations: YORK, REUTERS, Labor Department, Reuters, Nasdaq, Dow, IOS, , Treasury, ST LOUIS “ Locations: Chad, Middlebury , Indiana, U.S, AMERICAS, WELLS FARGO, PHILADELPHIA, Treasuries
Instant View: U.S. April payrolls gain much smaller than expected
  + stars: | 2021-05-07 | by ( Reuters Staff | ) www.reuters.com + 0.00   time to read: +8 min
The five-year forward IOS, which is the terminal funds rate, that drives the 10-year yield. The economy is booming, and the labor market recovery is still ongoing, although it might be losing a little bit of steam. “This year’s growth is still great; the labor market is still going to recover. Yields going down and higher yields have had a negative effect on the Nasdaq. With the 10-year (Treasury yield) going to 1.51%, that’s a hefty drop.
Persons: Matt Dillion, Chad Damron, Eileen T, Dow Jones, QUINCY KROSBY, , Dow, ALTHEA SPINOZZI, BORIS SCHLOSSBERG, LARRY ADAM, RAYMOND JAMES, Biden, JOSEPH LAVORGNA, NATIXIS, ” PETER CARDILLO, “ It’s, aren’t, SAMEER SAMANA, WELLS, ” “, ” GUY LEBAS, JANNEY Organizations: YORK, REUTERS, Labor Department, Reuters, Nasdaq, PRUDENTIAL, NEW, Treasury, OF, BK, Fed, IOS, , ST LOUIS “ Locations: Chad, Middlebury , Indiana, U.S, NEWARK, NEW JERSEY, COPENHAGEN, stagflation, BALTIMORE , MARYLAND, AMERICAS, WELLS FARGO, PHILADELPHIA, Treasuries
World stocks, commodities boom on U.S. weak jobs data
  + stars: | 2021-05-07 | by ( Herbert Lash | Ritvik Carvalho | ) www.reuters.com + 0.00   time to read: +5 min
Nonfarm payrolls increased by only 266,000 jobs last month.Data for March was revised down to show 770,000 jobs addedinstead of 916,000 as previously reported. Both indexes set new highs, as did Canada’s Toronto Stock Exchange 300 Composite Index, which rose 0.94% to 19472.74. For the week, the Dow rose 2.65%, the S&P500 1.23% and the Nasdaq slipped 1.51%. Overnight in Asia, MSCI’s broadest index of Asia-Pacific shares outside Japan rose about 0.4%, while Japan’s Nikkei gained about 0.2%. Brent crude futures rose 19 cents to settle at $68.28 a barrel, while U.S. crude futures gained 19 cents to settle at $64.90 a barrel.
Persons: tamped, Joe Biden, Gold, byReuters, , , Joseph LaVorgna, DAX, Issei Kato, Thomas Hayes, Boris Schlossberg Organizations: Treasury, Americas, Toronto Stock, CAC, Dow, Dow Jones, Nasdaq, U.S ., REUTERS, , Capital, Japan’s Nikkei, BK Asset Management, Brent Locations: U.S, Natixis, New York, Tokyo, Japan, Asia, Pacific, India, United States
Stocks rally, commodities jump on U.S. jobs report
  + stars: | 2021-05-07 | by ( Herbert Lash | Ritvik Carvalho | ) www.reuters.com + 0.00   time to read: +3 min
FILE PHOTO: A street sign, Wall Street, is seen outside New York Stock Exchange (NYSE) in New York City, New York, U.S., January 3, 2019. Nonfarm payrolls increased by only 266,000 jobs in April and data for March was revised down to show 770,000 jobs were added instead of 916,000 as previously reported. The economy is booming, and the labor market recovery is still ongoing.”MSCI’s benchmark for global equity markets rose 1.02% to 711.29. Slideshow ( 2 images )MSCI’s emerging market currency index sailed to a new record high, lifted by the weaker dollar after the U.S. jobs data. Spot gold prices rose $16.63 to $1,831.81 an ounce.
Persons: tamped, Shannon Stapleton, Biden, , Joseph LaVorgna, Boris Schlossberg Organizations: New York Stock Exchange, REUTERS, White, Treasury, Americas, Dow, Dow Jones, Nasdaq, Japan’s Nikkei, BK Asset Management, , Brent Locations: New, New York City , New York, U.S, Natixis, New York, Asia, Pacific, Japan, India, United States
Stocks at new peaks, commodities jump on U.S. jobs data
  + stars: | 2021-05-07 | by ( Herbert Lash | Ritvik Carvalho | ) www.reuters.com + 0.00   time to read: +4 min
FILE PHOTO: A street sign, Wall Street, is seen outside New York Stock Exchange (NYSE) in New York City, New York, U.S., January 3, 2019. Nonfarm payrolls increased by only 266,000 jobs last month.Data for March was revised down to show 770,000 jobs addedinstead of 916,000 as previously reported. The economy is booming, and the labor market recovery is still ongoing.”MSCI’s benchmark for global equity markets rose 0.86% to 710.17. The benchmark index is dominated by Asian currencies, including China’s yuan, which strengthened more than 0.5% in offshore trading to hit its best level in 2-1/2 months. Brent crude futures rose 19 cents to settle at $68.28 a barrel, while U.S. crude futures gained 19 cents to settle at $64.90 a barrel.
Persons: tamped, Shannon Stapleton, Joe Biden, byReuters, , , Joseph LaVorgna, Thomas Hayes, Boris Schlossberg Organizations: New York Stock Exchange, REUTERS, Treasury, Americas, Dow, Dow Jones, Nasdaq, , Capital, Japan’s Nikkei, BK Asset Management, Brent Locations: New, New York City , New York, U.S, Natixis, New York, Asia, Pacific, Japan, India, United States
With Biden's first 100 days in the books, investors remain worried about inflation, taxes, etc. Biden's off to a strong startOverall, both Dwek and Schweitzer are impressed by Biden's first 100 days in office. Investing beyond Biden's first 100 daysWith Biden's first 100 days in the rearview, Dwek and Schweitzer believe that there are plenty of opportunities for investors ahead. "Don't ignore risks, don't think that nothing can go wrong," she warns. "I don't think higher valuations on their own are an obstacle.
Persons: Biden's, Esty Dwek, Lynda Schweitzer, Schweitzer, Loomis Sayles, Dwek, Biden, Schweitzer isn't, that's, he's, they'd, we'd, We're Organizations: Investment, Natixis Investment, Senate, Dwek, Vanguard Locations: India, China, Dwek, Mexico
FILE PHOTO: A street sign, Wall Street, is seen outside New York Stock Exchange (NYSE) in New York City, New York, U.S., January 3, 2019. Small-cap investors could feel pressure to take some profits on the strong rally by selling shares before the tax hike kicks in. “The breakdown of small caps and cyclicals is a potential early warning sign that the actual reopening of the economy will be more difficult than dreaming about it,” he said. Few expect that the Russell index will fall into a correction - a decline of 10% or more - or a bear market anytime soon. “There are fewer attractive values to be found in small caps right now,” Villere said.
Persons: Shannon Stapleton “, , Doug Foreman, Kayne Anderson Rudnick, Russell, Joe Biden's, Biden, Michael Wilson, Morgan Stanley, , Esty Dwek, Brain Jacobsen, Lamar Villere, Bill Hwang, ” Villere Organizations: YORK, New York Stock Exchange, REUTERS, American Airlines and United Airways, Global, Macro, Natixis Investment, Fargo Asset Management, Villere, ViacomCBS Inc, Tiger Locations: New, New York City , New York, U.S, United States, Japan, Fargo, Archegos, Tiger Asia
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