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☆ Premarket stocks: Why traders are so infatuated with inflation
▼ + stars: | 2023-02-14 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

What’s happening: Investors will get some market direction clarity on Tuesday morning with the release of key inflation data. It’s not all about the Fed: Traders are infatuated with CPI, but it’s likely going to affect markets more than it will future Fed policy. “CPI is the big inflation report that affects markets more than any other,” he said. Even beyond housing, the services sector has seen year-over-year inflation higher than 3.9% every month since March 2021, said Chaudhuri. And as Powell noted in Washington last week, the stickiness of core services inflation is his greatest concern.

☆ VIEW U.S. job growth accelerates in January, wage gains moderate
▼ + stars: | 2023-02-03 | by ( ) www.reuters.com time to read: +3 min

NEW YORK, Feb 3 (Reuters) - U.S. job growth accelerated sharply in January amid a persistently resilient labor market, but a further moderation in wage gains should give the Federal Reserve some comfort in its fight against inflation. MARKET REACTION:STOCKS: U.S. stock index futures fell sharply after the strong jobs report BONDS: U.S. bond yields rose after the jobs data. If you can do that and keep the labor market strong that's the perfect soft landing the Fed's been looking for." "I'd say that market got ahead of itself betting that the March rate hike would be the last one. Was it seasonal factors or just the strength of the labor market."

☆ Technical glitch briefly halts trading in some NYSE-listed stocks at open
▼ + stars: | 2023-01-24 | by ( ) www.reuters.com time to read: +1 min

Jan 24 (Reuters) - A slew of stocks were briefly halted for trading on the New York Stock Exchange, shortly after the market opened on Tuesday, due to a technical outage. Most of the stocks have resumed trading. An update on the stock exchange's website said the issues with the opening auction were being investigated and all systems were now operational. "What appears to have happened is a technical glitch where all of my opening orders on the NYSE autocancelled even though some of them should have been fulfilled," said Dennis Dick, trader at Triple D Trading. Reporting by Medha Singh and Amruta Khandekar in Bengaluru; Editing by Anil D'Silva and Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

☆ Despite a wave of layoff announcements, it's still a good time to get a job, career experts say
▼ + stars: | 2023-01-20 | by ( Jessica Dickler | ) www.cnbc.com time to read: +1 min

Whether by choice or necessity, many workers will change jobs in the months ahead. At the same time, government data shows the U.S. labor market is still strong, with a record low unemployment rate of 3.5%. Many industries continue to do very well, according to Barbara Safani, president of Career Solvers in New York. The tech layoffs don't "necessarily reflect on the broader job market," she said. "If you can engineer a decline in inflation without crushing the jobs market, that's the 'Goldilocks' soft landing," he said.

☆ Instant View: US payrolls show labor market remains strong but wages rises cool
▼ + stars: | 2023-01-06 | by ( ) www.reuters.com time to read: +5 min

Nonfarm payrolls increased 223,000 last month, the Labor Department said in its closely watched employment report on Friday. Monthly job growth is well above the pace needed to keep up with growth in the working age population. "Through the rest of the report, the average hourly earnings month over month came in at 0.3%. But everything else about this shows a very, very resilient labor market which doesn’t bode well for a smaller rate hike. "Fed will look at these numbers and say that the labor market is still pretty robust and to the extent that they would like to see a bit of slack in the labor market."

All the major S&P 500 sector indexes rose, with consumer discretionary (.SPLRCD) and technology (.SPLRCT) leading the pack with a near 3% rise. The Fed's aggressive rate hikes have hammered equities this year, with the benchmark S&P 500 (.SPX) shedding 19.3% and the tech-heavy Nasdaq tumbling nearly 33%. The CBOE Volatility index (.VIX), known as Wall Street's "fear gauge", slipped, signaling an easing in investor anxiety. Tesla shares (TSLA.O) rose 8.3% after Chief Executive Elon Musk told staff they should not be "bothered by stock market craziness". The S&P index recorded no new 52-week highs and no new lows, while the Nasdaq recorded 40 new highs and 117 new lows.

☆ 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.

[1/2] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., December 7, 2022. Wall Street's main indexes have slumped this year on fears of aggressive rate hikes triggering a U.S. recession. The Nasdaq and the S&P 500 (.SPX) have fallen 29.5% and 17.2%, respectively, so far in 2022 and are on track for their worst yearly performance since 2008. Seven out of the 11 major S&P 500 sector indexes were in the green, led by energy (.SPNY) and technology stocks (.SPLRCT). The S&P index recorded no new 52-week highs and two new lows, while the Nasdaq recorded 29 new highs and 136 new lows.

Wall Street's main indexes have slumped this year on fears of aggressive rate hikes triggering a U.S. recession. ET, Dow e-minis were up 81 points, or 0.24%, S&P 500 e-minis were up 12.75 points, or 0.32%, and Nasdaq 100 e-minis were up 34.25 points, or 0.3%. Qualcomm Inc (QCOM.O) lost 2.7% after Wells Fargo downgraded its rating on the smartphone chipmaker's stock to "underweight" from "equal weight". Rivian Automotive Inc (RIVN.O) lost 1.2% after the company paused its partnership discussions with Mercedes-Benz Vans on electric van production in Europe. Reporting by Shubham Batra, Ankika Biswas and Johann M Cherian in Bengaluru Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

☆ Wall St set to open lower on China's anti-lockdown protests; Apple slips
▼ + stars: | 2022-11-28 | by ( Ankika Biswas | ) www.reuters.com time to read: +3 min

As China's strict zero-COVID policy aimed at stamping out COVID-19 with lockdowns and quarantines has become a lightning rod for frustrations, protests erupted over the weekend as a show of solidarity with rare displays of defiance. Although there were no signs of new protests in Beijing or Shanghai on Monday, the curbs so far have led to concerns over China's economic growth and its trickle-down effect on global companies. ET, Dow e-minis were down 216 points, or 0.63%, S&P 500 e-minis were down 33.75 points, or 0.84%, and Nasdaq 100 e-minis were down 99 points, or 0.84%. On Friday, the Nasdaq closed lower, weighed down by Apple in a subdued holiday-shortened trading session for Wall Street. Reporting by Ankika Biswas and Shreyashi Sanyal in Bengaluru; Editing by Savio D'Souza and Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

[1/2] Raindrops hang on a sign for Wall Street outside the New York Stock Exchange in Manhattan in New York City, New York, U.S., October 26, 2020. "At best it reduced the likelihood of a three-quarter point rate hike in December and brought it down to a half-point hike. ET, Dow e-minis were up 148 points, or 0.44%, S&P 500 e-minis were up 19 points, or 0.48%, and Nasdaq 100 e-minis were up 69 points, or 0.59%. Shares of megacap companies extended gains in premarket trading, with Alphabet Inc (GOOGL.O) up 0.8% after a near 9% surge in the previous session. Reporting by Shubham Batra, Sruthi Shankar and Devik Jain in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

☆ Wall Street awaits midterm vote tallies
▼ + stars: | 2022-11-09 | by ( ) www.reuters.com time to read: +6 min

Republicans were favored to win control of the House of Representatives and possibly the Senate, polls and betting markets showed earlier, though it may be hours before all vote tallies are known. read moreCOMMENTS:CHARU CHANANA, MARKET STRATEGIST, SAXO MARKETS, SINGAPORE"The race seems to be closer than expected, especially for the Senate. "That said, if the Republicans take the Senate along with the House that provides a pro-business backdrop for the market." "A Republican win will in generally be positive for equities, but inflationary risk is unlikely to be mitigated nor accelerated." IPEK OZKARDESKAYA, SENIOR ANALYST, SWISSQUOTE BANK"From an investor point of view, a Republican win in both chambers is a good outcome for the stocks.

☆ 3 Wall Street awaits midterm vote tallies in upbeat mood
▼ + stars: | 2022-11-09 | by ( ) www.reuters.com time to read: +3 min

The S&P 500 (.SPX) rose 0.56% on Tuesday during voting that will determine control of the U.S. Congress, with investors betting on a political stalemate that could prevent major policy changes. Republicans are favored to win control of the House of Representatives and possibly the Senate, polls and betting markets show, though it may be hours before all vote tallies are known. BROOKS RITCHEY, CO-CIO, K2 ADVISORS"If we get a split Congress, we might have to adjust our portfolios to be less defensive than we are today." JACK ABLIN, CHIEF INVESTMENT OFFICER, CRESSET CAPITAL, CHICAGO"I think the markets are rallying at the prospect of gridlock." Compiled by the Global Finance & Markets Breaking News teamOur Standards: The Thomson Reuters Trust Principles.

☆ Wall Street ends strong month on weaker note; focus on Fed meeting
▼ + stars: | 2022-10-31 | by ( Chuck Mikolajczak | ) www.reuters.com time to read: +3 min

Hopes the Fed may pull back from its aggressive interest rate hike policy have lifted equities in recent weeks, with the S&P 500 notching a gain of nearly 9% over the past two weeks. The Dow booked its biggest monthly percentage gain in decades and biggest October percentage gain since at least 1900. Comments from Fed officials after the policy decision as well as labor market data later this week will help shape market expectations for future hikes starting at the December meeting. According to preliminary data, the S&P 500 (.SPX) lost 28.55 points, or 0.73%, to end at 3,872.51 points, while the Nasdaq Composite (.IXIC) lost 112.37 points, or 1.03%, to 10,990.08. Nearly all 11 S&P 500 sectors fell, with technology (.SPLRCT) and communication services (.SPLRCL) the worst performers with declines of more than 1%.

The tech-heavy Nasdaq (.IXIC) jumped more than 2% in the session as the 10-year Treasury yield hit the day's low of 4.05% before bouncing slightly. 3M (MMM.N), on the other hand, fell 0.4% as it cut its full-year revenue and profit forecasts due to a stronger dollar. Advancing issues outnumbered decliners by a 5.56-to-1 ratio on the NYSE and by a 4.32-to-1 ratio on the Nasdaq. The S&P index recorded 12 new 52-week highs and one new low, while the Nasdaq recorded 61 new highs and 101 new lows. Reporting by Amruta Khandekar and Shreyashi Sanyal in Bengaluru; Editing by Maju Samuel and Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.

Earlier in the day the British central bank said it would continue to buy bonds this week. The pan-European STOXX 600 index (.STOXX) lost 0.56% and MSCI's gauge of stocks across the globe (.MIWD00000PUS) shed 0.97%. Emerging market stocks (.MSCIEF) lost 2.28% after hitting an April 2020 low and were set for a near-30% tumble year-to-date, their biggest decline since 2008. read moreGILT RESPITEBonds globally have been sideswiped by the rout in UK government bonds, known as gilts, pushing yields on U.S. Treasuries up sharply. Bond market trading was volatile with longer-dated U.S. Treasury yields hitting multi-year highs.

☆ S&P 500, Nasdaq end lower; BoE comments add to market jitters late
▼ + stars: | 2022-10-11 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

Trading was volatile, with investors cautious ahead of key U.S. inflation data and the start of third-quarter earnings later this week. The S&P banks index (.SPXBK) was down 2.6% ahead of quarterly results from some major banks later this week. The reports are expected to kick off the third quarter reporting period for S&P 500 companies. read moreDeclining issues outnumbered advancing ones on the NYSE by a 1.50-to-1 ratio; on Nasdaq, a 1.51-to-1 ratio favored decliners. The S&P 500 posted one new 52-week high and 104 new lows; the Nasdaq Composite recorded 33 new highs and 590 new lows.

Register now for FREE unlimited access to Reuters.com RegisterMajor U.S. banks are set to kick off the third-quarter earnings season in earnest on Friday, amid anxiety about the impact of inflationary pressures, rising interest rates and geopolitical uncertainties on their profit. Chicago Fed President Charles Evans on Monday joined the chorus of other central bankers backing the Fed's attempt to lower inflation without a sharp rise in unemployment even as it continues raising interest rates. read more read moreAt 9:53 a.m. Tech behemoths Apple Inc (AAPL.O) and Microsoft Corp (MSFT.O) fell 0.9% and 1.5%, respectively, weighing down the S&P 500 technology sector index (.SPLRCT). The S&P index recorded one new 52-week high and 22 new lows, while the Nasdaq recorded 33 new highs and 200 new lows.

☆ Analysis: Rally in U.S. consumer stocks teeters with Fed, inflation in focus
▼ + stars: | 2022-09-21 | by ( David Randall | ) www.reuters.com time to read: +5 min

read moreRegister now for FREE unlimited access to Reuters.com RegisterThe gains in the consumer discretionary sector may prove fleeting. read moreStill, some investors believe inflation and growth woes may already be largely reflected in many consumer discretionary shares. "But we're seeing a lot of consumer stocks that we think will hold up and come out of this in a better position." Consumer stocks are rallying despite looming Fed hikes. Global fund managers have remained bearish on consumer discretionary stocks despite recent gains, with nearly 25% of those surveyed by BofA Global Research this month underweight the sector - the most of any group.

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