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Producer prices climbed 7.4% last month on an annual basis, the Labor Department's report showed, compared with economists' expectations of a 7.2% increase. Core producer prices, which exclude volatile food and energy components, jumped 6.2% compared with estimates of a 5.9% rise. Consumer prices data for November, due Tuesday, will provide fresh clues on the central bank's monetary tightening plans. U.S. stocks had snapped a recent run of losses on Thursday after data showed initial jobless claims modestly rose last week, suggesting the labor market was deteriorating. The S&P index recorded five new 52-week highs and one new lows, while the Nasdaq recorded 24 new highs and 96 new lows.

☆ Australian court dismisses suit against Google over personal data use
▼ + stars: | 2022-12-09 | by ( ) www.reuters.com time to read: +1 min

Dec 9 (Reuters) - Australia's competition regulator said on Friday its lawsuit against Alphabet Inc's (GOOGL.O) Google that alleged consumers were misled about expanded use of personal data for targeted advertising had been dismissed by a court. The proceedings, initiated by the Australian Competition & Consumer Commission in July 2020, alleged Google did not explicitly take consent from users about a change made in 2016 that combined personal information in Google accounts with activity on non-Google sites that use its technology to display advertisements. The Federal Court, however, found that the notification which allowed users to accept policy changes was not misleading since Google "only implemented the steps with their (users') informed consent", the regulator said. "The court also noted that Google did not reduce account holders' rights under the privacy policy." Reporting by Sameer Manekar in Bengaluru Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

☆ Global equity funds record biggest weekly outflows in three months
▼ + stars: | 2022-12-09 | by ( ) www.reuters.com time to read: +2 min

According to Refinitiv Lipper data, investors offloaded a net $22.03 billion worth of global equity funds, marking their biggest weekly net selling since Sept. 7. read moreInvestors sold a net $26.65 billion in U.S. equity funds, although they purchased European and Asian equity funds worth $3.41 billion and $990 million, respectively. Fund flows: Global equity sector fundsMeanwhile, global bond funds attracted $8.54 billion in inflows after witnessing outflows for four weeks. Corporate bond funds received $2.17 billion, and government bond funds drew $1.06 billion, the biggest weekly inflow in three weeks, while outflows from short- and mid-term bond funds eased to a 16-week low of $272 million. According to data available for 24,734 emerging market (EM) funds, equity funds saw outflows of 1.06 billion after two straight weeks of inflows, but investors purchased $1.35 billion worth of bond funds.

☆ European shares rise as industrials, financials gain on China optimism
▼ + stars: | 2022-12-09 | by ( Amruta Khandekar | ) www.reuters.com time to read: +2 min

The ECB may raise rates by 50 basis points next week, according to a Reuters poll, following two straight 75 basis point increases. Industrial stocks such as Siemens AG (SIEGn.DE) were among the biggest boosts to the index, while some China-exposed financials such as Prudential Plc (PRU.L) also rose. Energy stocks (.SXEP) led sectoral declines, falling 0.4% dragged down by a fall in shares of heavyweights such as Shell Plc and BP Plc (BP.L). Credit Suisse shares rose nearly 3% after the embattled bank hailed a "milestone" in its turnaround plan on Thursday after raising 2.24 billion Swiss francs ($2.39 billion) as part of a 4 billion franc cash call. Reporting by Amruta Khandekar; Editing by Vinay Dwivedi and Saumyadeb ChakrabartyOur Standards: The Thomson Reuters Trust Principles.

☆ S&P 500, Nasdaq snap losing streaks after jobless claims rise
▼ + stars: | 2022-12-08 | by ( David French | ) www.reuters.com time to read: +4 min

Wall Street's main indexes had come under pressure in recent days, with the S&P 500 shedding 3.6% since the beginning of December on expectations of a longer rate-hike cycle and downbeat economic views from some top company executives. Such thinking had also weighed on the Nasdaq Composite (.IXIC), which had posted four straight losing sessions prior to Thursday's advance on the tech-heavy index. Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., December 7, 2022. REUTERS/Brendan McDermidNine of the 11 major S&P 500 sectors rose, led by a 1.6% gain in technology stocks (.SPLRCT). The S&P 500 posted 15 new 52-week highs and three new lows; the Nasdaq Composite recorded 82 new highs and 232 new lows.

SummarySummary Companies Weekly jobless claims rise in line with estimatesSalesforce slips on downgradeIndexes up: Dow 0.72%, S&P 0.82%, Nasdaq 1.19%Dec 8 (Reuters) - The S&P 500 gained ground on Thursday, lifted by technology and energy shares, while a rise in weekly jobless claims suggested the labor market was slowing down. "More people are filing jobless claims, which shows labor forces are weakening a little bit," said Thomas Hayes, chairman at Great Hill Capital LLC in New York. Ten of the 11 major S&P 500 sector indexes rose, led by 1.5% gain in technology stocks (.SPLRCT). Most mega-cap technology and growth stocks such as Apple Inc (AAPL.O), Nvidia Corp (NVDA.O) and Amazon.com (AMZN.O) rose between 1.4% and 4.2%. The S&P index recorded 11 new 52-week highs and two new lows, while the Nasdaq recorded 53 new highs and 132 new lows.

☆ Air Products, AES to invest $4 bln in building largest U.S. green hydrogen plant
▼ + stars: | 2022-12-08 | by ( Expert Analysis | Reuters Professional | Calls Grow For Companies To Disclose Impacts On Nature In Bid To Plug Finance Gap | ) www.reuters.com time to read: +1 min

Dec 8 (Reuters) - Industrial gas supplier Air Products (APD.N) and renewable energy firm AES Corp (AES.N) said on Thursday they would invest about $4 billion to build the largest U.S. green hydrogen facility, amid rising demand for the clean fuel. The companies aim to start commercial operations by 2027 at the Texas facility, which will be capable of producing over 200 metric tons of green hydrogen per day. Air Products, which had sales of $12.7 billion in fiscal 2022, will serve as the exclusive acquirer and marketer of the green hydrogen from the plant under a 30-year deal. AES and Air Products will have equal ownership of the plant's renewable energy and electrolyzer assets, which help break water into hydrogen and oxygen, they added. There has been an uptick in demand for green hydrogen, produced using renewable energy, which could include offshore wind and solar, to power electrolysis plants.

☆ Futures edge up ahead of jobs data, recession fears loom
▼ + stars: | 2022-12-08 | by ( ) www.reuters.com time to read: +3 min

SummarySummary Companies Futures up: Dow 0.02%, S&P 0.13%, Nasdaq 0.24%Dec 8 (Reuters) - U.S. stock index futures edged up on Thursday ahead of weekly jobless claims data, while fears of an impending recession brought on by an aggressive Federal Reserve kept investors on edge. The U.S. central bank has raised its policy rate by 375 basis points this year to a 3.75%-4.00% range from near zero, the fastest rate hikes since the 1980s. This aggressive approach by the central bank has stoked worries of a recession, with top executives of major U.S. banks and institutions including JPMorgan, BlackRock and Citi forecasting a likely economic downturn in 2023. "The yield curve is hideously inverted, recession is coming, and stock markets usually bottom only after a recession has started," said Luke Templeman, thematic research analyst at Deutsche Bank. ET, Dow e-minis were up 6 points, or 0.02%, S&P 500 e-minis were up 5.25 points, or 0.13%, and Nasdaq 100 e-minis were up 28 points, or 0.24%.

☆ Air India to spend over $400 mln to refurbish cabin interiors
▼ + stars: | 2022-12-08 | by ( ) www.reuters.com time to read: +1 min

BENGALURU, Dec 8 (Reuters) - Air India would spend more than $400 million to refurbish the interiors of its entire wide-body fleet to attract more flyers after the carrier was taken over by Indian conglomerate Tata Group at the start of this year, it said on Thursday. The refurbishment will involve introduction of a premium economy cabin, it said in a statement, adding that the first aircraft with refurbished interiors will enter service in mid-2024. "Air India has committed to attain the highest standards of product and service befitting of a world class airline. We know that, at present, the cabin product on our 40 legacy widebody aircraft falls short of this standard," the company said. Once known for its lavishly decorated planes and stellar service, state-owned Air India was swept into a downward spiral due to mounting debt and ballooning losses.

"It's just one data point that leads to the Fed cooling down their aggressive hikes, but it doesn't change December's 50 basis point (rate hike). The key is going to be the data between December and February as to what they do next." The U.S. central bank has raised its policy rate by 375 basis points this year in the fastest hikes since the 1980s. Adding to the fears, the yield curve between the 2-year and 10-year Treasury notes has also widened in the recent days. ET, Dow e-minis were up 148 points, or 0.44%, S&P 500 e-minis were up 22.5 points, or 0.57%, and Nasdaq 100 e-minis were up 65.5 points, or 0.57%.

☆ S&P, Nasdaq extend losing streaks amid rising recession worries
▼ + stars: | 2022-12-07 | by ( David French | ) www.reuters.com time to read: +5 min

[1/2] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., November 29, 2022. For the benchmark S&P 500 (.SPX), it was the fifth straight session that it has declined, while the Nasdaq (.IXIC) finished down for the fourth time in a row. The S&P 500 (.SPX) lost 7.34 points, or 0.19%, to close at 3,933.92 and the Nasdaq Composite (.IXIC) dropped 56.34 points, or 0.51%, to finish at 10,958.55. The S&P 500 is on track to snap a three-year winning streak. The S&P 500 posted seven new 52-week highs and seven new lows; the Nasdaq Composite recorded 61 new highs and 307 new lows.

The benchmark S&P 500 (.SPX) fell for the fifth straight session on Wednesday. The Nasdaq (.IXIC) was down for the fourth straight session, dragged lower by a 1.3% drop in Apple Inc (AAPL.O) on Morgan Stanley's iPhone shipment target cut and a 3.9% fall in Tesla Inc (.IXIC) over production loss worries. The CBOE volatility index (.VIX), also known as Wall Street's fear gauge, rose to a two-week high to 23.01 points. The S&P 500 is on track to snap a three-year winning streak, down 17.4% so far in 2022. The S&P index recorded six new 52-week highs and seven new lows, while the Nasdaq recorded 36 new highs and 226 new lows.

[1/2] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., November 29, 2022. "From the bigger picture, the Fed has hiked rates to a point where markets are expecting monetary policy to be restrictive enough to cause a mild recession." The CBOE volatility index (.VIX), also known as Wall Street's fear gauge, rose to a two-week high at 23.01 points amid increased investor anxiety. Tesla Inc (TSLA.O) slumped 2.9%, down for a third straight session over production loss worries at its Shanghai plant. The S&P index recorded two new 52-week highs and six new lows, while the Nasdaq recorded 25 new highs and 149 new lows.

SummarySummary Companies Apple down, Morgan Stanley cuts Dec shipment estimateCarvana tumbles, Wedbush slashes PT to Street lowFutures down: Dow 0.25%, S&P 0.48%, Nasdaq 0.82%Dec 7 (Reuters) - U.S. stock indexes were set to open lower on Wednesday after warnings of a looming recession from major Wall Street bankers offset optimism around China relaxing its strict zero-COVID rules. Fears of a recession due to the U.S. Federal Reserve's aggressive rate hikes to curb inflation pulled the S&P 500 (.SPX) lower for a fourth straight session on Tuesday, with all major Wall Street indexes ending down 1%-2%. "From the bigger picture, the Fed has hiked rates to a point where markets are expecting monetary policy to be restrictive enough to cause a mild recession." The CBOE volatility index (.VIX), also known as Wall Street's fear gauge, rose to a two-week high at 23.01 points amid increased investor anxiety. ET, Dow e-minis were down 85 points, or 0.25%, S&P 500 e-minis were down 19 points, or 0.48%, and Nasdaq 100 e-minis were down 94.75 points, or 0.82%.

☆ TSX futures down on recession fears, BoC rate decision in focus
▼ + stars: | 2022-12-07 | by ( ) www.reuters.com time to read: +2 min

Summary BoC rate decision at 10 a.m. ETTrader see a 65.6% chance of a 25 bps hikeDec 07 (Reuters) - Futures tracking Canada's main stock index slipped on Wednesday on mounting recession worries, while investors awaited the Bank of Canada's interest rate decision later in the day. The BoC is expected to hike its benchmark overnight rate to its highest level in 14 years as it seeks to tame high inflation, with the decision expected at 10 a.m. The TSX has recovered 9.7% from its October closing low on hopes that the Federal Reserve and other major central banks would temper their aggressive rate hike stance. Meanwhile, oil prices slipped, pressured by concerns about recession and easing fears that a Western cap on Russian oil prices would significantly curb supply while gold prices were listless against a stronger dollar.

☆ S&P posts 4th straight decline as recession talk weighs on Wall Street
▼ + stars: | 2022-12-06 | by ( David French | ) www.reuters.com time to read: +4 min

[1/2] The Wall Street entrance to the New York Stock Exchange (NYSE) is seen in New York City, U.S., November 15, 2022. However, technology names generally suffered as investors applied caution toward high-growth companies whose performance would be sluggish in a challenging economy. Most of the 11 major S&P sectors declined, with energy and communications services (.SPLRCL) joining technology (.SPLRCT) as leading laggards. Future economic growth prospects were in focus on Tuesday following comments from financial titans pointing toward uncertain times ahead. The S&P 500 posted three new 52-week highs and nine new lows; the Nasdaq Composite recorded 52 new highs and 262 new lows.

[1/2] The Wall Street entrance to the New York Stock Exchange (NYSE) is seen in New York City, U.S., November 15, 2022. Future economic growth prospects were in focus on Tuesday following comments from financial titans pointing toward uncertain times ahead. The S&P banks index (.SPXBK) was down 2.6%, with Bank of America leading declines with a 5.6% drop. Fears about economic growth come amid a re-evaluation by traders of what path future interest rate hikes will take, following strong data on jobs and the services sector in recent days. "If economic growth continues to be better than what people are expecting, there are chances that the Fed would have to continue to be hawkish," said Rusty Vanneman, chief investment strategist at Orion Advisor Solutions.

[1/2] The Wall Street entrance to the New York Stock Exchange (NYSE) is seen in New York City, U.S., November 15, 2022. Concerns about a steep increase in borrowing costs have boosted the dollar, while weighing on equities and bond markets this year, with the S&P 500 down 17.5%. The S&P 500 rallied 13.8% in October and November on hopes of smaller rate hikes and better-than-expected earnings. The bank sector index (.SPXBK) fell 2.1%, with Bank of America leading declines with a 4.9% drop. The S&P index recorded three new 52-week highs and eight new lows, while the Nasdaq recorded 30 new highs and 191 new lows.

☆ EU regulators raise concerns over Meta's targeted ad model - WSJ
▼ + stars: | 2022-12-06 | by ( ) www.reuters.com time to read: +2 min

The ruling was approved on Monday by a board representing all EU privacy regulators and could limit the data Meta can access to sell such ads, the report added. For years, Meta's social media platforms have allowed users to opt out of personalized ads, which are targeted after collecting data about user behavior and choices across other apps and websites. But the EU ruling could stifle Meta's ability to target ads based on user activity inside their own apps as well. A spokeswoman for the European Data Protection Board, the body representing all EU privacy regulators, declined to provide details of the decisions made. Reporting by Chavi Mehta in Bengaluru Editing by Vinay Dwivedi and Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

☆ Toronto stocks slip to near 1-week lows on rate worries
▼ + stars: | 2022-12-06 | by ( Shashwat Chauhan | ) www.reuters.com time to read: +2 min

[1/2] The Art Deco facade of the original Toronto Stock Exchange building is seen on Bay Street in Toronto, Ontario, Canada January 23, 2019. ET (1532 GMT), the Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) was down 90.22 points, or 0.45 percent, at 20,152.04. "This news would be received well by investors as higher interest rates have been a major source of anxiety this year," said Brandon Michael, senior analyst at ABC Funds. Among single stocks, Cenovus Energy Inc (CVE.TO) gained 2.0% after the energy company forecast higher capital expenditure for 2023. Reporting by Shashwat Chauhan in Bengaluru Editing by Vinay Dwivedi and Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

"It's the recession fear that a lot of investors have ... the concern is that profits begin to drop more meaningfully in the recession." As of Dec. 2, analysts expected S&P 500 companies to report a drop of 0.6% in fourth-quarter earnings after posting a 4.4% rise in the third quarter, according to Refinitiv IBES data. ET, Dow e-minis were down 31 points, or 0.09%, S&P 500 e-minis were down 2 points, or 0.05%, and Nasdaq 100 e-minis were up 4.75 points, or 0.04%. Meanwhile, a Tuesday runoff election in Georgia between Democratic U.S. Among individual stocks, GameStop Corp (GME.N) rose 1.6% in premarket trading following a media report on layoffs.

☆ TSX futures edge up as gold shines, BoC meet in focus
▼ + stars: | 2022-12-06 | by ( ) www.reuters.com time to read: +2 min

SummarySummary Companies BoC rate decision due WednesdayTraders see a 71.5% chance of 25 bps hikeDec 06 (Reuters) - Futures for Canada's resources-heavy main stock index edged up on Tuesday as gold prices rose, while investors await the Bank of Canada's interest rate decision. Gold prices steadied on Tuesday after shedding more than 1% in the last session, helped by a weaker dollar. Commodity prices have a major impact on Toronto stocks, as materials and energy companies combined have a near 31% weight on the main index. The TSX, like its U.S. counterparts has rallied from October lows on hopes that the Federal Reserve and major central banks would dial down their aggressive approach on interest rates. The BoC will be one of the first major central banks to announce the interest rate decision in December, with announcements from the Fed and the European Central Bank to follow next week.

☆ Australia's Big Four banks pass c.bank rate hike to home loan customers
▼ + stars: | 2022-12-06 | by ( ) www.reuters.com time to read: +1 min

Dec 6 (Reuters) - All of Australia's "big four" banks said on Tuesday they will raise their home loan rates by a quarter-point, passing on the central bank's eighth rate hike in as many months to their customers in full. Earlier on Tuesday, the Reserve Bank of Australia lifted its cash rate by 25 basis points to a 10-year high of 3.1%, and reiterated that further policy tightening would be needed to contain inflation. The top four lenders, the Commonwealth Bank of Australia (CBA.AX), National Australia Bank (NAB.AX) and Australia and New Zealand Banking Group's (ANZ.AX) will hike their rates from the end of next week, while Westpac Banking Corp's (WBC.AX) hike will be effective December 20, the banks said in separate statements. However, heightened borrowing costs could impact credit demand, housing market, employment and economic growth, posing as challenges to the lenders. Reporting by Rishav Chatterjee and Echha Jain in Bengaluru Editing by Vinay Dwivedi and Nivedita BhattacharjeeOur Standards: The Thomson Reuters Trust Principles.

☆ Asian stocks draw highest monthly foreign inflows in two years
▼ + stars: | 2022-12-06 | by ( Gaurav Dogra | ) www.reuters.com time to read: +2 min

Dec 6 (Reuters) - Foreign net monthly inflows into Asian equities hit a two-year high in November on hopes that the U.S. Federal Reserve could cut the pace of its interest rate hikes. The MSCI Asia Pacific index (.MIAP00000PUS) surged 14.8% last month, its biggest monthly gain in about 24 years, after being hit by aggressive rate hikes by the Federal Reserve earlier this year. Taiwanese equities attracted $6.06 billion in foreign inflows last month, the biggest amount since 2008, while India and South Korea received $4.43 billion and $3.04 billion, respectively. Analysts are also optimistic about flows into emerging Asian markets as the dollar has dropped sharply in recent weeks. "The US dollar index remains locked in a downward bias, which could continue to provide a supportive environment for foreign inflows into Asian equities towards year-end," said Yeap Jun Rong, a market strategist at IG.

[1/2] The Wall Street entrance to the New York Stock Exchange (NYSE) is seen in New York City, U.S., November 15, 2022. The lender's chief executive said the bank's research predicted three quarters of mild negative growth next year. JPMorgan Chase and Co's (JPM.N) top boss Jamie Dimon also warned of a mild to more pronounced recession ahead. As of Dec. 2, analysts expected S&P 500 companies to report a drop of 0.6% in fourth-quarter earnings after posting a 4.4% rise in the third quarter, according to Refinitiv IBES data. The S&P index recorded three new 52-week highs and six new lows, while the Nasdaq recorded 15 new highs and 109 new lows.

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