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☆ Dollar slips ahead of Fed rate decision
▼ + stars: | 2023-02-01 | by ( Joice Alves | ) www.reuters.com time to read: +3 min

LONDON, Feb 1 (Reuters) - The dollar weakened slightly against the euro ahead of Wednesday's eagerly awaited Federal Reserve policy decision, with investors hoping the U.S. central bank will signal an end to interest rate tightening cycle. After a series of jumbo rate increases in 2022 to tame inflation, the market expects the Fed benchmark interest rate to be raised by a quarter of a percentage point to 4.75%. That would be the smallest increase since the central bank began raising rates 10 months ago. Carol Kong, currency strategist at Commonwealth Bank of Australia, said: "Recent progress on inflation has encouraged market participants to expect the Fed to quickly pivot from interest rate hikes to interest rate cuts." EURO ZONE INFLATIONInvestors said that euro zone inflation data is unlikely to affect the European Central Bank's (ECB) monetary decision on Thursday.

☆ Europe grew faster than the US last year. Its markets are outperforming too
▼ + stars: | 2023-02-01 | by ( Anna Cooban | ) edition.cnn.com time to read: +5 min

The overall rise is a reversal of a 15-year trend that has seen US stock indices, flush with fast-growing tech companies, consistently beat those across the Atlantic. Over the past decade, investors poured money into fast-growing tech stocks, aided by ultra-low interest rates. (SXXL)But tech companies have taken a beating recently. Tech companies, including Microsoft and Alphabet, announced thousands of layoffs last month. High interest rates make it more expensive for companies to borrow to expand their business, raising doubts about their future earnings.

☆ The Sundance Film Festival: A Lively Market for Indie Cinema
▼ + stars: | 2023-01-27 | by ( Kyle Smith | ) www.wsj.com time to read: +1 min

After two years of Covid-19 fears, the Sundance Film Festival returned to in-person screenings, and exhilaration was in the air. Given the chance to screen most offerings remotely, I attended from my living room. These days, with indie cinema still having trouble attracting ticket buyers, the festival is becoming more and more of a shopping center for streaming services. Drawing a similar price, this time from Apple for its streaming service, was “Flora and Son,” another musical drama from writer-director John Carney (“Once”). Keeping its titular promise, the film is thoroughly campy, far too much for my taste.

☆ Hopes of slowdown in rate hikes bolster shares ahead of U.S. GDP
▼ + stars: | 2023-01-26 | by ( Huw Jones | ) www.reuters.com time to read: +5 min

Oil prices were steady after U.S. crude stocks rose less than expected, while gold hit a 9-month peak. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) climbed 1.1% and was set for its fifth straight day of gains. The report could mark the last quarter of solid growth before the lagged effects of the Fed's jumbo rate hikes kick in. Oil prices were steady after U.S. crude stocks rose less than expected. Gold prices touched a nine-month high, with spot gold at $1,941 per ounce, after hitting $1,949.09 earlier in the day.

☆ Tech drags European stocks lower on earnings jitters
▼ + stars: | 2023-01-25 | by ( Ankika Biswas | ) www.reuters.com time to read: +3 min

The pan-European STOXX 600 (.STOXX) fell 0.3%, heading lower for a second day with technology (.SX8P) and telecom (.SX8P) declining the most. "The weak outlook painted by Microsoft is weighing on the wider tech sector," said Michael Hewson, chief markets analyst at CMC Markets in London. European stocks came under pressure on Tuesday, as an improvement in economic activity spurred speculation that the European Central Bank (ECB) might have more room to raise interest rates to tackle inflation. Boosting UK stocks, EasyJet PLC (EZJ.L) jumped 10.6% after projecting it would beat current market expectations for 2023 and deliver a full-year profit. Reporting by Ankika Biswas in Bengaluru; Editing by Subhranshu Sahu and Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

☆ Dollar climbs against yen as BOJ affirms ultra-easy policy
▼ + stars: | 2023-01-20 | by ( ) www.cnbc.com time to read: +2 min

Speculators are betting that the BOJ, the last major central bank to still employ loose monetary policy, is edging towards a shift to a tighter stance. That has driven a rally in the yen that has pushed the dollar/yen pair down by 14% in the past three months. So between now and the next meeting, there is no policy shift and that is indicated by Kuroda," he added. The dollar rose as high as 130.60 yen and was last up 0.9% at 129.58. On the week, the dollar rose 1.3% versus the Japanese currency.

☆ Futures subdued as focus shifts to results from big U.S. banks
▼ + stars: | 2023-01-13 | by ( ) www.reuters.com time to read: +2 min

With the Federal Reserve's aggressive tightening campaign to combat inflation, higher borrowing costs have prompted consumers and businesses to curb their spending, impacting banks' profits as demand for credit slows. "Bank earnings are going to be a big test," said Michael Hewson, chief market analyst at CMC Markets UK. "It will be interesting to see whether they (banks) have made any further provisions for non-performing loans, how they see demand for loans." Delta Air Lines Inc (DAL.N), BlackRock Inc (BLK.N) and UnitedHealth Group Inc (UNH.N) are also scheduled to report fourth-quarter earnings on Friday. ET, Dow e-minis were up 10 points, or 0.03%, S&P 500 e-minis were down 0.5 points, or 0.01%, and Nasdaq 100 e-minis were down 16.5 points, or 0.14%.

☆ Tesla shares fall on US and European price cuts
▼ + stars: | 2023-01-13 | by ( ) edition.cnn.com time to read: +5 min

More stable cost inflation was also a factor in reducing prices, said a spokesperson for Tesla Germany, confirming price cuts in its top European market. The US price cuts, announced late Thursday on its global top-sellers the Model 3 sedan and Model Y crossover SUV, were between 6% and 20%, Reuters calculations showed. For a US buyer of the long-range Model Y, the new Tesla price combined with the US subsidy amounts to a discount of 31%. In China, where Tesla cut prices last week by 6% to 13.5%, owners protested at delivery centres, calling for compensation. Before the cuts, Tesla inventory in the United States, as tracked by models its website shows as immediately available, had been trending higher.

☆ Commodity-linked stocks push FTSE 100 higher; retailers slide
▼ + stars: | 2023-01-12 | by ( Shashwat Chauhan | ) www.reuters.com time to read: +2 min

The blue-chip FTSE 100 (.FTSE) gained 0.6% to hover near a more than four-year high scaled on Wednesday, while the more domestically focused FTSE 250 mid-cap index (.FTMC) rose 0.9%. Retailers Tesco (TSCO.L) and Marks & Spencer (MKS.L) slipped between 0.3% and 1.6% despite strong sales, as both companies warned of inflationary pressures. Financial stocks were among the top gainers on the FTSE 100, with banks like HSBC (HSBA.L) and Barclays (BARC.L) rising 0.9% and 1.4%, respectively. The FTSE 100 has had a bright start to the year so far, rising in almost every session. Centrica (CNA.L) climbed to the top of FTSE 100, jumping 6.1% after the British Gas owner raised its full-year earnings forecast.

Then there’s Eve Hewson, daughter of Bono, who claimed that the Vulture team behind the “nepo baby” piece was “jealous” and called out the editor-in-chief for her own familial privilege. But one self-described “nepo baby” has finally cracked the code of how to defuse these attacks: by owning the title, not shying away from it. shutting out countless talented newcomers who might have more talent than a “nepo baby” but lack a famous name or face and thus are denied opportunities — would be a major mistake. More “nepo babies” could take a page out of Williams’ book and recognize this duality. Hollywood isn’t an equal playing field, and any “nepo baby” who pretends like it is is not only ignoring reality, but doing a disservice to their own reputation.

☆ Futures subdued ahead of December jobs report
▼ + stars: | 2023-01-06 | by ( ) www.reuters.com time to read: +3 min

The Labor Department's more comprehensive jobs report due at 8:30 a.m. The numbers come a day after the ADP National Employment report showed a higher-than-expected rise in private employment in December, while another report showed weekly jobless claims dropped to a three-month low. Factory orders for November and ISM non-manufacturing data for December, due after the opening bell, will also be closely monitored. ET, Dow e-minis were up 29 points, or 0.09%, S&P 500 e-minis were up 2.25 points, or 0.06%, and Nasdaq 100 e-minis were down 12.25 points, or 0.11%. Reporting by Shubham Batra and Ankika Biswas in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

☆ Big Pharma drags European shares down; inflation data in focus
▼ + stars: | 2023-01-05 | by ( Bansari Mayur Kamdar | ) www.reuters.com time to read: +3 min

The market was hoping the minutes could be a "blueprint to a pivot," said Danni Hewson, an analyst at AJ Bell. Healthcare stocks (.SXDP) dragged, with pharma giants like Novartis AG (NOVN.S) and Sanofi (SASY.PA) shedding more than 1% each. Investors await producer price data, due at 1000 GMT, for clues on the impact of the European Central Bank's aggressive tightening to tamp down inflation. Retail stocks were battered last year, posting their worst annual performance since 2008, as rising interest rates and high inflation put pressure on household budgets. Reporting by Bansari Mayur Kamdar in Bengaluru Editing by Vinay Dwivedi and Eileen SorengOur Standards: The Thomson Reuters Trust Principles.

☆ How 2022 shocked, rocked and rolled global markets
▼ + stars: | 2022-12-30 | by ( Marc Jones | ) www.reuters.com time to read: +6 min

The main drivers have been the war in Ukraine, combined with rampant inflation as global economies broke out of the pandemic, but China remained shackled by it. U.S. Treasuries and German bonds, the benchmarks of global borrowing markets and traditional go-to assets in troubled times, lost 17% and 25% respectively in dollar terms. Ten-year Treasury yields jumped to 1.8% from less than 1.5%, knocking 5% off MSCI's world stocks index (.MIWD00000PUS) in January alone. The Fed has delivered an eye-watering 400bps of rate hikes and the European Central Bank, a record 250bps, despite saying this time last year it was unlikely to budge. "What has gone in global markets this year has been traumatic," said EFG Bank Chief Economist and ex-Deputy Governor of Ireland's central bank, Stefan Gerlach.

☆ 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.

☆ Futures edge higher ahead of producer prices data
▼ + stars: | 2022-12-09 | by ( ) www.reuters.com time to read: +2 min

SummarySummary Companies Futures up: Dow 0.10%, S&P 0.22%, Nasdaq 0.30%Dec 9 (Reuters) - U.S. stock index futures ticked up on Friday ahead of monthly producer prices data that could offer more clues on how long the Federal Reserve will keep raising interest rates to tame decades-high inflation. ET, is expected to show producer prices edged higher to 7.2% last month after an 8% rise in October. Core producer prices, which exclude volatile food and energy components, are expected to show a 5.9% rise after a 6.7% growth in October. Consumer prices data for November will be out next Tuesday, a day ahead of the U.S. central bank's policy decision where it is widely expected to raise rates by 50 basis points. U.S.-listed China stocks rose on optimism over China's COVID policy pivot.

☆ Bill Gates has 5 new book recommendations for your holiday reading list
▼ + stars: | 2022-11-21 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +6 min

"Stranger in a Strange Land" — Gates' favorite sci-fi book from his youth, he noted — is the story of a human who was raised on Mars, by Martians. This holiday season, billionaire Bill Gates is gifting you a list of five books to read while you're hopefully enjoying some much-deserved downtime. We need to learn to learn from our mistakes without obsessing over them," Gates wrote. The name comes from Russian chemist Dmitri Mendeleyev, who formulated the first version of the periodic table in 1869. It's "the best book I've ever read on the periodic table," Gates wrote.

LONDON, Nov 17 (Reuters) - The pound rose for a third day against the dollar on Thursday ahead of finance minister Jeremy Hunt's new budget full of "tough but necessary" measures to control inflation. Against the euro , sterling has only risen by around 6% since late September and by 9% against the yen. Benchmark 10-year gilts are around 3.3%, their lowest since mid-September, just before Truss and Kwarteng released their budget. Typically, this would have dragged on the pound, given the lower yield advantage it affords investments in sterling. Adding an extra element of risk on Thursday, are the economic forecasts of the independent Office for Budget Responsibility, which did not release any kind of breakdown of the impact of Truss' budget in September.

☆ Instant View: UK finance minister Jeremy Hunt outlines budget
▼ + stars: | 2022-11-17 | by ( ) www.reuters.com time to read: +5 min

Much of Hunt's budget had been widely expected, meaning markets offered a muted reaction. Sterling fell against the dollar, while UK government bond prices also eased, but remained clear of the day's lows. FOREX: Sterling fell 0.9% against the dollar to $1.1809 from $1.1845 prior to the budget. MARCUS BROOKES, CHIEF INVESTMENT OFFICER AT QUILTER INVESTORS, LONDON:"Today’s Autumn Statement has painted a bleak picture for the UK... Markets originally reacted well to the steady hand of Jeremy Hunt. SIMON HARVEY, HEAD OF FX ANALYSIS, MONEX EUROPE, LONDON:"The austerity’s going to be welcome (to the Bank of England) purely because there’s going to be less support for UK consumers.

☆ Fed hopes buoy shares, China COVID easing boosts oil
▼ + stars: | 2022-11-11 | by ( Huw Jones | ) www.reuters.com time to read: +5 min

Oil prices jumped after health authorities in top global crude importer China eased some of the country's heavy COVID curbs. The S&P 500 (.SPX) and Nasdaq (.IXIC) racked up their biggest daily percentage gains in over 2-1/2 years on Thursday after U.S. data showed prices rose less-than-expected in October. Market bets on the Fed raising rates by 50 basis points instead of 75 basis points increased. US inflation, Fed rates and marketsDOLLAR DIVEInvestors poured into risky assets after the U.S. data, with the dollar suffering its biggest daily drop in 13 years on Thursday. Meanwhile, oil prices rose on Friday after the U.S. inflation data but were on track for weekly declines of more than 4% due to COVID-related worries in China.

Summary Futures up: Dow 0.02%, S&P 0.15%, Nasdaq 0.41%Nov 9 (Reuters) - U.S. stock index futures inched higher on Wednesday as results from midterm elections rolled in, with investors bracing for a political gridlock in Washington that would make it harder for drastic policy changes to come through. "You're in a slightly different situation and it does look like the Biden Presidency has not been dealt a massive blow by these midterm elections, so the markets are in a wait-and-see mode." The S&P 500 has posted a gain in each 12-month period after the midterm vote since World War Two, according to Deutsche Bank. S&P 500 has risen in every 12-month period following the U.S. midterm elections over the past 70 yearsAt 3:07 a.m. ET, Dow e-minis were up 7 points, or 0.02%, S&P 500 e-minis were up 5 points or 0.13%, and Nasdaq 100 e-minis were up 45.75 points, or 0.41%.

☆ Elon Musk's net worth falls back under $200 billion after Tesla shares slide to a 1-year low
▼ + stars: | 2022-11-09 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

Elon Musk's wealth is now less than $200 billion, according to Forbes' Real-Time Billionaires list. The Tesla CEO's net worth has fallen $74 billion since he announced his bid for Twitter in mid-April. His net worth was $197.4 billion at the closing bell Tuesday, a drop of $3.9 billion from the day before, according to Forbes' Real-Time Billionaires list. Tesla shares fell 2.93% to close at $191.30 Tuesday, after the electric vehicle maker said it was recalling 40,000 vehicles over a power-steering flaw. Read more: Elon Musk has sold nearly $4 billion worth of Tesla shares following his $44 billion Twitter buyout

☆ Bono’s new book is more than a rock star memoir. It’s also a powerful tribute to America
▼ + stars: | 2022-11-08 | by ( John Blake | ) edition.cnn.com time to read: +12 min

Born Paul David Hewson in Dublin, Ireland, Bono is a global rock star, an activist and an entrepreneur who is currently touring the US to promote his memoir. Bono’s book, though, is more than a rock star’s memoir. A belief in America as an idea, not a religionAs any casual fan of U2 knows, U2 has long had a close relationship with the US. Martin Luther King Jr., with their song, “Pride (In The Name of Love).”In “Surrender,” Bono pays tribute to America itself. “The search for common ground starts with a search for higher ground,” Bono writes in the memoir.

BP said it expects to pay around $2.5 billion in taxes for its British North Sea business this year, including $800 million in a windfall tax. BP, which increased its dividend by 10% in the quarter, will buy back $2.5 billion of shares after repurchasing $7.6 billion so far this year. Reuters Graphics Reuters GraphicsGAS TRADINGBP's third-quarter underlying replacement cost profit of $8.15 billion, the company's definition of net income, compared with forecasts of a $6 billion profit in a company-provided survey of analysts. BP made a profit of $3.3 billion a year earlier and a 14-year high profit of $8.45 billion in the second quarter of 2022. Refining margins are also expected to remain high due to sanctions on Russian crude oil and refined products, BP said.

☆ European shares dip as commodity stocks weigh ahead of inflation data
▼ + stars: | 2022-10-31 | by ( Shreyashi Sanyal | ) www.reuters.com time to read: +2 min

The STOXX 600 index (.STOXX) had slipped 0.1% by 0925 GMT after closing higher on Friday, with miners (.SXPP) down 0.1% while energy stocks (.SXEP) fell 0.2%. Meanwhile, euro zone inflation is seen hitting a record 10.2% in October, in what will likely make for yet another uncomfortable reading for the European Central Bank (ECB), which is targeting a 2% price growth. Among individual stocks, Credit Suisse (CSGN.S) rose 2.5% as it unveiled details of its plan to raise 4 billion francs ($4.01 billion) from investors. Fresenius Medical Care (FMC) (FMEG.DE) jumped 4.4% after the German dialysis provider on Sunday reported third-quarter earnings above market expectations. Reporting by Shreyashi Sanyal in Bengaluru; Editing by Dhanya Ann Thoppil and Subhranshu SahuOur Standards: The Thomson Reuters Trust Principles.

☆ Bono reflects on his 40-year marriage to Ali Hewson
▼ + stars: | 2022-10-31 | by ( Lisa Respers France | ) edition.cnn.com time to read: +1 min

CNN —Bono’s new memoir, “Surrender: 40 Songs, One Story,” isn’t just about his time and travels with U2. “Ali gave me the chance and covered for me at home. So I’m not writing a rock’n’roll memoir, [or] an activist’s memoir, I’m not just writing a sojourner’s memoir, I’m trying to write a love letter to my wife.”Bono and wife Ali Hewson wed in 1982. Bono calls the woman he shares four children with “incredible.”“She’s not just a mystery to me, by the way. “Ali calls it ‘the work of love’.

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