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European markets are heading for a negative open Tuesday, following their global counterparts lower. Asia-Pacific markets turned lower overnight, with Hong Kong stocks leading the declines and Japan's Nikkei 225 giving up gains from earlier in the session. Trading sentiment was subdued following a pause in Wall Street's rally on Monday as its key indexes retreated from record highs. S&P 500 futures are near flat early Tuesday as the rally took a breather. Investors stateside are keeping an eye out this week for the monthly personal consumption expenditures price index, the U.S Federal Reserve's favored inflation gauge.
Organizations: Nikkei, U.S Federal Locations: Asia, Pacific, Hong Kong, U.S
European markets are heading for a lower open Monday as global investors look ahead to more inflation data this week. The monthly personal consumption expenditures price index, the U.S Federal Reserve's favored inflation gauge, is due out Thursday. U.S. equity futures inched lower Monday as investors looked forward to the latest inflation reading as well as a slew of big earnings reports this week. Overnight in Asia-Pacific markets, Japan's Nikkei 225 index hit a fresh high Monday as traders returned from a long weekend, while measures by South Korean authorities to boost its stock markets did little to push up the main index.
Organizations: U.S Federal, Nikkei, South Locations: U.S, Asia, Pacific
REUTERS/Hamad I Mohammed/File photo Acquire Licensing RightsOct 22 (Reuters) - Stock markets in the Gulf fell on Sunday amid warnings of possible further interest rate hikes from the U.S Federal Reserve, and worries of escalation in the Middle East conflict. Monetary policy in the six-member Gulf Cooperation Council (GCC) is usually guided by Fed policy decisions because most regional currencies are pegged to the U.S. dollar. Saudi Arabia's benchmark index (.TASI) was down for a third consecutive session, ending 1.5% lower, with all sectors in the red. Elm Company (7203.SE) dropped 2.3%, while Al Rajhi Bank (1120.SE), the world's largest Islamic bank by assets, slipped 2.1%. The Qatari index (.QSI) fell for a fifth straight session, ending 0.9% lower, with Industries Qatar (IQCD.QA) dropping 2.2% and Qatar Navigation (QNNC.QA) sliding 3%.
Persons: Joe Biden, Hamad I Mohammed, Jerome Powell, Talaat Mostafa, Md Manzer Hussain, David Holmes Organizations: Bahrain Bourse, U.S, REUTERS, Stock, U.S Federal Reserve, Gulf Cooperation Council, U.S ., Elm Company, Al Rajhi Bank, Industries Qatar, Qatar Navigation, Qatar National Bank, Eastern Co, Gaza, Thomson Locations: Bahrain, Manama, Saudi, Israel, Lebanon, Syria
Morning Bid: Soft landing fatigue
  + stars: | 2023-08-11 | by ( ) www.reuters.com   time to read: +3 min
Positive economic data tends to move stock markets, either by fueling rallies, or prompting a temporary sell-off as traders take profits. But Wall Street stock markets ended Thursday flat. Futures point to mild declines for the S&P 500 and the Nasdaq 100 on Friday. The S&P 500 has risen 16% year-to-date. Analysts have cut their estimates for S&P 500 companies' 2023 earnings by about 15% since the end of last year, Capital Economics says.
Persons: Brendan McDermid, Naomi Rovnick, Emmanuel Cau, Cau, Ned Davis, Elaine Hardcastle Organizations: New York Stock Exchange, REUTERS, Nasdaq, Barclays, Economics, Capital Economics, Ned Davis Research, U.S Federal Reserve, Reuters Graphics Reuters, Reuters, University of Michigan, Thomson Locations: New York City, U.S, Tuscany
Asia-Pacific markets are set to fall Wednesday as investors look ahead to the U.S Federal Reserve's policy decision due out early Thursday morning in Asia. A Reuters poll found 94 out of 105 economists said they expect the Fed to hike rates by 25 basis points, with the remainder forecasting a pause. In Australia, the S&P/ASX 200 opened 0.21% lower, while South Korea's Kospi dropped 0.55% and the Kosdaq saw a larger loss, falling 0.85%. Hong Kong's Hang Seng index is also set for a lower open, with futures tied to the index standing at 19,624 compared to its last close of 19,933.81. Markets in Japan and mainland China are closed for a holiday Wednesday.
2 JPMorgan buys First Republic Bank's assets
  + stars: | 2023-05-01 | by ( ) www.reuters.com   time to read: +6 min
May 1 (Reuters) - JPMorgan Chase & Co (JPM.N), the biggest U.S. bank by assets, said on Monday it will buy most of First Republic Bank's (FRC.N) assets after U.S. regulators seized the troubled bank. low single digits), strategically consistent (US wealth expansion), and system friendly - FDIC loss of only $13B (<est. "First, as with the GFC (Global Financial Crisis,) this once again shows the value of a fortress balance sheet. "Assets such as the U.S. dollar and Japanese yen will be on the radar as traders look for an asset of safety. Still, unlike Silicon Valley Bank and Signature Bank, the FDIC had a buy waiting in the wings.
JPMorgan buys First Republic Bank's assets
  + stars: | 2023-05-01 | by ( ) www.reuters.com   time to read: +4 min
May 1 (Reuters) - JPMorgan Chase & Co (JPM.N), the biggest U.S. bank by assets, said on Monday it will buy most of First Republic Bank's (FRC.N) assets after U.S. regulators seized the troubled bank. The collapse marks the third major U.S. lender to fail in less than two months, after a week of panic which saw First Republic lose 75% of its market value as its future turned murkier. "Assets such as the U.S. dollar and Japanese yen will be on the radar as traders look for an asset of safety. "This development will most likely not prevent the Fed from raising U.S. interest rates this week as largely expected. Still, unlike Silicon Valley Bank and Signature Bank, the FDIC had a buy waiting in the wings.
Tech investor Paul Meeks — an unabashed longtime tech bear — is also beginning to warm to the sector. "I'm creeping back into the sector after long advocating an underweight position in it," he said in notes to CNBC on Friday. Chip makers NXP Semiconductors and STMicroelectronics also made Meeks' list, with the tech investor saying they are two stocks that he "likes very much." Outside of semiconductors, Meeks is also looking at German software firm SAP . "Keep an eye on SAP because this windfall for them could be a really nice blessing, a game-changer," he added.
The Brazilian central bank's weekly survey of private economists last year foresaw cuts in June 2023, but a recent survey pushed the forecast back to November. The central bank's poll of traders now expects cuts won't come until May, likely making Chile the first mover. "We've had a quite a few hawkish comments from central banks across the region, pushing back against the idea of rate cuts," she added. That gives central banks the message that it's not quite time to think about a more relaxed monetary policy," he said. Political unrest in Peru may have also moved back the goalpost for cuts, with the central bank warning that protests have caused supply chain disruption and impacted consumer prices.
Pound and U.S. dollar banknotes are seen in this illustration taken January 6, 2020. An expected interest rate hike by the U.S Federal Reserve (Fed) later in the day played into market sentiment, with eyes also on a Bank of England rate decision and a new government mini-budget this week. By 1143 GMT, the pound was down 0.31% against the dollar at $1.13460 pence , having earlier hit $1.13040 - its lowest since 1985. Register now for FREE unlimited access to Reuters.com Register"This morning’s dip is primarily a function of the Russia news. The Office for National Statistics said public sector borrowing excluding state-owned banks stood at 11.82 billion pounds ($13.44 billion) last month.
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