DIRS.INFO The most relevant business & tech news

The pan-European STOXX 600 index (.STOXX) ended 0.6% higher, extending gains to the fifth straight day, its longest winning streak in nearly three months. Rate-sensitive technology stocks (.SX8P) were the top gainers on STOXX 600, jumping 1.7%, with IT provider Softcat (SCTS.L) advancing 5.3% after Citi raised it to "buy". Also supporting STOXX 600 were miners (.SXPP) rising 1.7%, as commodity prices won support from a weaker dollar. [MET/l]A faster-than-expected slowdown in U.S. inflation reinforced bets that the Fed could end its rate hikes soon after July. Shares of Swatch (UHR.S) rose 6.9% after the watchmaker reported record growth in the first half of the year.

Persons: Barratt, Pierre Veyret, Chris Zaccarelli, Matteo Allievi, Shreyashi Sanyal, Sherry Jacob, Phillips, Janane Venkatraman, William Maclean Organizations: Federal, Citi, ActivTrades, Independent, Alliance, Swatch, Thomson Locations: Tech, U.S, Gdansk, Amruta, Bangalore

☆ US economy shifts into disinflation mode; consumer prices rise modestly
▼ + stars: | 2023-07-12 | by ( Lucia Mutikani | ) www.reuters.com time to read: +7 min

That was the smallest year-on-year increase since March 2021 and followed a 4.0% rise in May. The year-on-year CPI is slowing in part as last year's large rises drop out of the calculation. It was the first time in six months that the so-called core CPI did not post monthly gains of at least 0.4%. Services prices rose 0.3%, matching May's gain. Economists view the ISM services prices paid measure as a good predictor of personal consumption expenditures (PCE) inflation.

Persons: Christopher Rupkey, Joe Biden, Chris Zaccarelli, Sarah Silbiger, Michael Gregory, Lucia Mutikani, Chizu Nomiyama, Andrea Ricci Organizations: Federal Reserve, Labor Department, Fed, Reuters Graphics, CPI, Reuters, Independent, Treasury, El Progreso Market, Washington , D.C, REUTERS, Institute, Supply, BMO Capital Markets, Thomson Locations: WASHINGTON, U.S, New York, Charlotte , North Carolina, Mount Pleasant, Washington ,, Toronto

☆ Stock futures are little changed as Wall Street narrows focus on major inflation report: Live updates
▼ + stars: | 2023-07-11 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

U.S. stock futures were close to flat Tuesday night as investors looked toward the first potentially pivotal inflation report slated for release this week. S&P 500 futures and Nasdaq 100 futures traded near flat. Investors are eyeing the June consumer price index reading due before the bell Wednesday. June data for the producer price index — another well-watched gauge of inflation — is due Thursday before the bell. Elsewhere, investors will monitor comments from central bank officials including Richmond Fed President Tom Barkin, Minneapolis Fed President Neel Kashkari, Atlanta Fed President Raphael Bostic and Cleveland Fed President Loretta Mester throughout Wednesday for any insights into the state of U.S. economic policy.

Persons: Dow Jones, CME's, Chris Zaccarelli, that's, Stocks, Tom Barkin, Neel Kashkari, Raphael Bostic, Loretta Mester Organizations: Dow Jones Industrial, Nasdaq, Federal Reserve, Index, Independent, Alliance, Dow, Richmond Fed, Atlanta Fed, Cleveland Fed Locations: Minneapolis, U.S

Adding to uncertainty was the start of the second quarter's final week on Monday, weeks ahead of the financial reporting season. Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., November 15, 2022. But Carnival (CCL.N) slumped 7.6% after the cruise operator forecast third-quarter earnings below Wall Street expectations. The S&P 500 posted 18 new 52-week highs and two new lows; the Nasdaq Composite recorded 53 new highs and 154 new lows. On U.S. exchanges 9.28 billion shares changed hands compared with the 11.62 billion average for the last 20 sessions.

Persons: Tesla, Aston Martin, Vladimir Putin's, Putin, Jerome Powell, Carol Schleif, they've, Schleif, Chris Zaccarelli, Zaccarelli, Brendan McDermid, Powell, Goldman Sachs, UK's Aston Martin, decliners, Sinéad Carew, Sruthi Shankar, Johann M, Shinjini Ganguli, Richard Chang Organizations: Pfizer, Aston, Dow, Nasdaq, Monday, U.S . State Department, Meta Platforms Inc, Inc, Tesla Inc, BMO, Investors, Independent, Alliance, Dow Jones, New York Stock Exchange, REUTERS, University of, Pfizer Inc, UBS, Ares Management, NYSE, Thomson Locations: Russia, Minneapolis, Charlotte, North Carolina, New York City, U.S, New York, Bengaluru

June 26 (Reuters) - U.S. stocks closed lower on Monday, as investors were wary of making riskier bets after Russia's aborted weekend mutiny. Investors were uncertain about the implications of the rebellion by Russian mercenaries that raised questions about President Vladimir Putin's future. Growth stocks weighed the most on the main indexes, with Meta Platforms Inc (META.O), Alphabet Inc (GOOGL.O) and Tesla Inc (TSLA.O) falling sharply. With this uncertainty in mind Schleif noted that investors were taking some profits in growth stocks that had advanced sharply this year. But Carnival (CCL.N) slumped after the cruise operator forecast third-quarter earnings below Wall Street expectations.

Persons: Vladimir Putin's, Putin, Jerome Powell, Carol Schleif, they've, Schleif, Chris Zaccarelli, Zaccarelli, Goldman Sachs, UK's Aston Martin, Sinéad Carew, Sruthi Shankar, Johann M, Shinjini Ganguli, Richard Chang Organizations: Monday, U.S . State Department, Meta Platforms Inc, Inc, Tesla Inc, Nasdaq, BMO, Independent, Alliance, Dow Jones, University of, Pfizer Inc, UBS, Ares Management, Thomson Locations: Russia, Minneapolis, Charlotte, North Carolina, U.S, New York, Bengaluru

☆ Stock futures are little changed after Fed skips rate hike but indicates more ahead: Live updates
▼ + stars: | 2023-06-14 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

U.S. stock futures were roughly flat after the Federal Reserve skipped a rate hike at its meeting that ended Wednesday, but signaled two more rate hikes may still be in store later this year. Dow Jones Industrial Average futures rose by 2 points, or 0.01%. S&P 500 and Nasdaq-100 futures climbed 0.07% and 0.11%, respectively. Earlier Wednesday, the broad market index and the Nasdaq Composite both reached their highest levels since April 2022. Kroger, Jabil and John Wiley are scheduled to announce earnings Thursday morning, with Adobe reporting after the close.

Persons: Jerome Powell, Chris Zaccarelli, Marty Green, Jabil, John Wiley Organizations: Federal Reserve, Dow Jones Industrial, Nasdaq, Dow Jones, Federal, Independent, Alliance, Fed, Philadelphia, Kroger, Adobe

☆ CPI in May: US inflation cooled significantly — but it's still not where the Fed wants it
▼ + stars: | 2023-06-13 | by ( Alicia Wallace | ) edition.cnn.com time to read: +8 min

The Consumer Price Index, a key inflation gauge that measures price changes for a basket of goods and services, increased 4% for the year ending in May. That represents a sharp pullback from April’s 4.9% and is slightly below economists’ expectations for a 4.1% gain, according to Refinitiv. It’s the 11th consecutive month that inflation has slowed, and it’s a welcome reprieve from the painful shock of persistently high inflation endured during the past two years. The Fed would like to see inflation (as measured by the core Personal Consumption Expenditures index) settle in at 2%. Markets are currently pricing in a 95.3% probability that the Fed pauses on Wednesday, according to CME FedWatch.

Persons: It’s, “, Nancy Vanden Houten, it’s, Chris Zaccarelli, “ They’ve, ”, Scott Olson, Vanden Houten, There’s, Kurt Rankin, ” Rankin Organizations: Minneapolis CNN, Bureau of Labor Statistics, Oxford Economics, CNN, Federal Reserve, Independent, CPI, Fed, FedWatch, Walmart, Federal Reserve Bank, Richmond, Hospitality, PNC Financial Services, PNC, United Locations: Minneapolis, Chicago , Illinois, United States

☆ Markets think the odds of a Fed rate cut in July are almost 50% after April CPI showed inflation cooling more than expected
▼ + stars: | 2023-05-10 | by ( Carla Mozée | ) www.businessinsider.com time to read: +3 min

Inflation in April increased by less than anticipated, spurring further bets the Federal Reserve will start rate cuts this summer. Odds of a cut in July rose to 45.9% on Wednesday from 29.3% a day earlier. Federal Reserve Chairman Jerome Powell and his colleagues last week ushered in their 10th consecutive rate increase as inflation remains above their 2% target. The Fed funds rate at 5%-5.25% stands at the highest since 2007. Inflation appears unlikely to rev higher again, which means the most likely scenario for monetary policy is the Fed remaining on hold, said Zaccarelli.

☆ Technology’s year of efficiency faces it first major test: overcoming declining earnings expectations
▼ + stars: | 2023-04-25 | by ( Samantha Subin | ) www.cnbc.com time to read: +6 min

Technology's year of efficiency faces its first major test this week as big technology earnings kick into high gear. Across the information technology sector, earnings are expected to decline 15.1% year over year, according to FactSet data. The setup for technology stocks It's hard to pinpoint one specific problem denting earnings expectations this season. Heading into the second quarter, many technology companies already face lowered earnings expectations, with analysts lowering earnings estimates for the information technology sector in the first quarter by 6.5% in aggregate, according to FactSet data. "We plan on being either not in any of these names or hedged or short some of them going into earnings season," Niles said.

☆ What to watch for in the markets in the week ahead: Monster tech earnings, then sell in May?
▼ + stars: | 2023-04-21 | by ( Scott Schnipper | ) www.cnbc.com time to read: +6 min

More than one third (35%) of the S & P 500 reports earnings next week — including megacaps Microsoft, Alphabet, Meta Platforms and Amazon — versus less than 12% in the week just ended and only 2% last week. So far this quarter, S & P 500 earnings are running 4.7% below the same period a year ago, Refinitiv data shows. Back then, the S & P 500 fell 19.4% from its April high to a low on October 3. Meanwhile, next week is the last full trading week before Wall Street's old adage to "sell in May and go away" takes hold. ET: FHFA Home Price index (February); S & P Case-Shiller home price indexes (February) 10:00 a.m.

☆ Wall St ends sharply lower as Powell warns inflation fight continues
▼ + stars: | 2023-03-22 | by ( Stephen Culp | ) www.reuters.com time to read: +5 min

The three major U.S. stock indexes, which were mostly directionless prior to the Fed announcement, jumped higher then deflated as investors digested the accompanying statement and Chair Jerome Powell's subsequent Q&A session. Worries persist that the Fed's aggressive battle against inflation could tip the economy into recession, and recent turmoil in the banking sector, sparked by failures of SVB Financial Group (SIVB.O) and Signature Bank (SBNY.O), have exacerbated those fears. All 11 major sectors of the S&P 500 ended the session deep in negative territory, with real estate (.SPLRCR) suffering the steepest percentage drop, its largest one-day plunge since Sept. 13. The S&P 500 posted six new 52-week highs and 13 new lows; the Nasdaq Composite recorded 44 new highs and 179 new lows. Volume on U.S. exchanges was 11.84 billion shares, compared with the 12.70 billion average over the last 20 trading days.

The remarks followed recent data showing an unexpected inflation increase in January and an unusually large jobs gain for the month. Traders dramatically raised their bets for a 50-basis-point rate hike in March after Powell's comments, with money market futures last pricing in a more than 70% chance of such a move, up from around 31% on Monday, according to CME Group's FedWatch tool. Data influencing the Fed's rate hiking path will include Friday's closely watched nonfarm payroll additions for February. Meanwhile, the yield on two-year Treasury notes , which best reflects short-term rate expectations, hit 5% for the first time since July 2007. Dick's Sporting Goods (DKS.N) rallied 11% after the retailer forecast annual earnings above Wall Street estimates and more than doubled its quarterly dividend.

Equities lost ground right after Powell's prepared remarks were released ahead of his testimony and sank further as the session wore on. Powell told U.S. lawmakers the Fed is prepared to move in larger steps if economic data suggests tougher measures are needed to control rising prices. Data the Fed will use to influence its rate hiking path will include Friday's non-farm payroll numbers. Meanwhile, the yield on two-year Treasury notes , which best reflects short-term rate expectations, hit 5% for the first time since July 2007. Dick's Sporting Goods (DKS.N) was up 9.6% after the retailer forecast annual earnings above Wall Street estimates and more than doubled its quarterly dividend.

Meanwhile, Fed fund rates were seen peaking at 5.6% in September compared to 5.47% earlier. Investors are awaiting data later this week that is expected to show nonfarm payrolls increased by 200,000 in February, compared with the much stronger-than-expected 517,000 jobs reported in January. All the 11 major S&P sectors fell, with cyclical sectors such as financials (.SPSY) and materials (.SPLRCM) leading declines. Meanwhile, the yield on two-year Treasury notes , which best reflects short-term rate expectations, rebounded to its highest since 2007 at 4.96%. The S&P 500 recorded 10 new 52-week highs and six new lows, while the Nasdaq posted 40 new highs and 112 new lows.

☆ Dollar jumps as Powell flags higher terminal rate
▼ + stars: | 2023-03-07 | by ( Karen Brettell | ) www.reuters.com time to read: +2 min

Powell also said that the Fed is prepared to increase the pace of rate hikes if data indicates it is warranted. That comes after the bank slowed the pace of its tightening to 25 basis points at its last two meetings, following larger hikes last year. "Powell is explicitly talking about a higher target for interest rates. Fed funds futures traders raised bets that the Fed will hike rates by 50 basis points at its March 21-22 meeting to 56% after Powell's comments. A 25 basis points increase is now seen as a 44% probability.

☆ Hawkish Powell puts 50 bp Fed rate hikes back on table
▼ + stars: | 2023-03-07 | by ( ) www.reuters.com time to read: +6 min

"Powell makes it clear the Fed would react accordingly if the data suggests that inflation continues to move in the wrong direction. It was very clear to the market that the Fed is not going to equivocate in terms of data that suggests inflation continues to climb higher or remain sticky." "Six percent (terminal rate) would be a little higher than it is likely. ROBERT PAVLIK, SENIOR PORTFOLIO MANAGER, DAKOTA WEALTH, FAIRFIELD, CONNECTICUT"The focus of the Fed is trying to get inflation down to 2%. "I prefer just one more 25 basis point rate hike, but probably we're going to get three 25 basis point rate hikes."

☆ Wall St eyes lower open as producer prices rebound
▼ + stars: | 2023-02-16 | by ( Johann M Cherian | ) www.reuters.com time to read: +3 min

A Labor Department report showed producer prices climbed 0.7% in January after a 0.2% fall in the previous month. "You're also seeing the job market still very strong as well, with claims coming in less than expected," Zaccarelli added. ET, Dow e-minis were down 274 points, or 0.8%, S&P 500 e-minis were down 47.5 points, or 1.14%, and Nasdaq 100 e-minis were down 185.75 points, or 1.46%. Traders will also scrutinize remarks from other Fed officials, including St. Louis Fed President James Bullard, to assess the central bank's tone on monetary policy. Reporting by Johann M Cherian and Sruthi Shankar in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

☆ Wall St slides as inflation, jobless claims data fuel rate-hike angst
▼ + stars: | 2023-02-16 | by ( Johann M Cherian | ) www.reuters.com time to read: +3 min

Another set showed the number of Americans filing new claims for unemployment benefits unexpectedly fell last week, offering more evidence of the economy's resilience. "You're also seeing the job market still very strong as well, with claims coming in less than expected." The Fed is seen pushing the benchmark rate above the 5% mark by May and keeping it above those levels till the year-end. Traders will also scrutinize remarks from other Fed officials, including St. Louis Fed President James Bullard, to assess the central bank's tone on monetary policy. The S&P index recorded two new 52-week highs and one new lows, while the Nasdaq recorded 28 new highs and 22 new lows.

☆ The former head of a $20 billion portfolio warns stocks will fall at least another 20% as investors become complacent about a recession and the Fed vows to keep rates elevated
▼ + stars: | 2023-02-04 | by ( William Edwards | ) www.businessinsider.com time to read: +5 min

A hawkish Fed, as a result, will push the economy into recession, he argues. "That's not the Fed cutting to three percent, Adam, it's the Fed cutting to 2% or 1%." He cited the S&P 500 falling 20% from late-2000 to mid-2002 even as the Fed cut rates from 6.5% to 1.75% as precedent. Many Wall Street banks — including JPMorgan, Citigroup, Bank of America, and UBS — see a recession ahead for the US economy. The path of inflation will influence the path the US economy takes this year.

☆ Stock futures tick down after the Dow posts a five-day win streak
▼ + stars: | 2023-01-26 | by ( Carmen Reinicke | ) www.cnbc.com time to read: +2 min

Stock futures slipped Thursday evening as investors look ahead to earnings and economic reports due Friday. S&P 500 futures and Nasdaq 100 futures were down 0.31% and 0.56%, respectively. The S&P 500 rose 1.10% and the tech-heavy Nasdaq Composite jumped 1.76%. The Dow and the S&P 500 have gained 1.7% and 2.2% this week, respectively. Investors may be watching Chevron's report closely after the company announced a $75 billion stock buyback and dividend boost on Wednesday.

☆ Top market watchers on why much of the action in early 2023 will be dictated by the Fed
▼ + stars: | 2022-12-23 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTop market watchers on why much of the action in early 2023 will be dictated by the FedJeff Kilburg of KKM Financial and Chris Zaccarelli of the Independent Advisor Alliance discuss whether there's any outside shot at a Santa Claus rally, and how investors should position themselves through at least Q1 of next year.

Fears about the Federal Reserve's plan to keep raising U.S. interest rates have weighed heavily on equities since its policy meeting last week. Among the S&P 500's 11 major sectors, the energy index (.SPNY) gained most, finishing up 1.52% as crude oil prices rose. Advancing issues outnumbered declining ones on the NYSE by a 1.12-to-1 ratio; on Nasdaq, a 1.06-to-1 ratio favored advancers. The S&P 500 posted 1 new 52-week highs and 14 new lows; the Nasdaq Composite recorded 64 new highs and 399 new lows. On U.S. exchanges 10.52 billion shares changed hands, compared with the 11.15 billion average for the last 20 trading days.

☆ Wall Street sees past Fed's lower rate hike to finish in red
▼ + stars: | 2022-12-14 | by ( Lawrence Delevingne | ) www.reuters.com time to read: +4 min

[1/2] The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, December 8, 2022. While the dollar index initially jumped on the Fed news, trading was choppy and was last down nearly 0.5% on the day. European stocks were flat, with the continent-wide Stoxx 600 (.STOXX) down 0.02% after rising 1.3% in the previous session. "Rather it is dot plot expectations that the Fed will hold rates throughout 2023, and not begin rate cuts until 2024." U.S. Treasury yields were little changed to slightly lower in choppy trading after the Fed news.

☆ Fed hikes rates by 50 bp, as expected, keeps hawkish tone
▼ + stars: | 2022-12-14 | by ( Reuters Staff | ) www.reuters.com time to read: +8 min

STORY: STATEMENT TEXT:MARKET REACTION:STOCKS: The S&P 500 turned sharply lower then steadied down 0.11%BONDS: Benchmark 10-year note yields rose then backed off to 3.4847%. CHRIS ZACCARELLI, CHIEF INVESTMENT OFFICER, INDEPENDENT ADVISOR ALLIANCE, CHARLOTTE“The Fed is taking away the punchbowl just as the party was getting started. They’re reiterating their forecasts but the whisper number was that the Fed was going to stop at a 4.5%-4.75% terminal rate. You know, the biggest thing that is holding the Fed back right now are the jobs numbers. The most dovish participants is looking for an extra 50 bps of hikes.

☆ Instant view: Fed hikes rates by 50 bp, as expected, keeps hawkish tone
▼ + stars: | 2022-12-14 | by ( ) www.reuters.com time to read: +8 min

CHRIS ZACCARELLI, CHIEF INVESTMENT OFFICER, INDEPENDENT ADVISOR ALLIANCE, CHARLOTTE“The Fed is taking away the punchbowl just as the party was getting started. They're reiterating their forecasts but the whisper number was that the Fed was going to stop at a 4.5%-4.75% terminal rate. "But the Fed is out there saying that 5.1% is still on the cards … and that rate hikes will continue." BRIAN JACOBSEN, SENIOR INVESTMENT STRATEGIST, ALLSPRING GLOBAL INVESTMENTS, MENOMONEE FALLS, WISCONSIN“The most interesting part of the releases were in the Summary of Economic Projections. And they’re holding it there longer than markets expected.”“In addition, they’re downgrading GDP estimates for this year, and in particular, for next year.

Search resuls for: "CHRIS ZACCARELLI"

25 mentions found