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Dow component (.DJI) Walgreens Boots Alliance Inc (WBA.O) rose 1.9% after Cowen & Co upgraded the drug distributor stock, citing its healthcare services business push. Best Buy Co Inc (BBY.N) soared 9.4%, rising the most among S&P 500 (.SPX) components after forecasting a smaller-than-expected drop in annual sales. Energy (.SPNY) led gains among the 11 major S&P 500 sector indexes, bouncing off four-week lows by adding 2%. Advancing issues outnumbered decliners by a 2.70-to-1 ratio on the NYSE and by a 1.12-to-1 ratio on the Nasdaq. The S&P index recorded 19 new 52-week highs and two new lows, while the Nasdaq recorded 49 new highs and 122 new lows.

SummarySummary Companies Best Buy up, sees smaller annual sales dropMedtronic down, lowers FY profit outlookTesla attempts to recoup losses post slumpFutures up: Dow 0.44%, S&P 0.49%, Nasdaq 0.40%Nov 22 (Reuters) - Wall Street's main indexes were set to open higher on Tuesday, with gains in shares of Walgreens and Best Buy helping investors assuage worries around the economic fallout of stricter COVID-19 curbs in China. Leading gains among S&P 500 (.SPX) components trading before the bell, Best Buy Co Inc (BBY.N) jumped 9.1% after forecasting a smaller-than-expected drop in annual sales ahead of the crucial holiday season. Dow component (.DJI) Walgreens Boots Alliance Inc (WBA.O) rose 1.7% after Cowen & Co upgraded the drug distributor stock, citing its healthcare services business push. ET, Dow e-minis were up 148 points, or 0.44%, S&P 500 e-minis were up 19.25 points, or 0.49%, and Nasdaq 100 e-minis were up 46 points, or 0.4%. Analysts expect thin trading volumes as markets will be shut on Thursday for Thanksgiving holiday and will remain open for half day on Friday.

☆ Global stocks, oil prices slip as rising COVID cases prompt Chinese lockdowns
▼ + stars: | 2022-11-21 | by ( Chibuike Oguh | ) www.reuters.com time to read: +3 min

[1/2] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., November 21, 2022. MSCI's broadest index of world shares (.MIWD00000PUS) fell 0.92%, while European stocks (.STOXX) were steady. On Wall Street, all three major indexes were trading lower, led by a selloff in technology, energy and consumer discretionary stocks. "Typically oil demand will plummet going into a slowdown or global recession especially this year, which we think is going to be somewhat exacerbated by China," Hodge added. Reporting by Chibuike Oguh in New York, editing by Deepa Babington and Chris ReeseOur Standards: The Thomson Reuters Trust Principles.

The data showed retail sales rose 1.3% last month led by motor vehicles after remaining flat in September. Economists polled by Reuters had forecast sales accelerating 1%. Among S&P 500 sectors, retail (.SPXRT) and consumer discretionary (.SPLRCD) were down 1.9% and 1.7%, respectively. Declining issues outnumbered advancers for a 2.10-to-1 ratio on the NYSE and for a 2.41-to-1 ratio on the Nasdaq. The S&P index recorded one new 52-week high and two new lows, while the Nasdaq recorded 33 new highs and 56 new lows.

☆ U.S. retailers take a knock after Target's sales warning
▼ + stars: | 2022-11-16 | by ( Medha Singh | ) www.reuters.com time to read: +2 min

But shares in Target's larger competitor Walmart (WMT.N) edged up 1.1%, a day after lifting its annual sales and profit forecast as demand for groceries held up despite higher prices. With annual inflation running at 7.7% in October and high interest rates, shoppers are reining in discretionary spending, bad news for retailers that rely on year-end shopping to boost annual sales. U.S. Commerce Department data showed U.S. retail sales improved more than expected after no growth in September. Bucking the retail trend, home improvement chain Lowe's Cos Inc (LOW.N) added more than 4% after raising its annual profit forecast, while discount store operator TJX Cos Inc (TJX.N) bumped up annual same-store sales forecast, rising almost 1%. Walmart, Target shares recover as CPI peaksReporting by Medha Singh in Bengaluru; Additional reporting by Bansari Mayur KamdarOur Standards: The Thomson Reuters Trust Principles.

[1/2] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., November 15, 2022. Despite the sales warning from Target, latest data on U.S. retail sales suggested that consumer spending remained stable and could help to underpin the economy in the fourth quarter. The data showed retail sales rose 1.3% last month after remaining flat in September. Economists polled by Reuters had forecast sales accelerating 1%. ET, Dow e-minis were down 57 points, or 0.17%, S&P 500 e-minis were down 14.25 points, or 0.36%, and Nasdaq 100 e-minis were down 71 points, or 0.6%.

☆ U.S. retailers knocked as Target warns on gloomy sales outlook
▼ + stars: | 2022-11-16 | by ( ) www.reuters.com time to read: +2 min

Target shares were forecast to open nearly 14% lower, dragging down other retailers. Target's larger competitor Walmart (WMT.N) slipped nearly 2%, a day after lifting its annual sales and profit forecast as demand for groceries held up despite higher prices. With annual inflation running at 7.7% in October and high interest rates, shoppers are skimping on discretionary spending, a gloomy prospect for a sector that relies on year-end shopping for a large portion of its annual sales. Target shares lost 22.7% of their value since the start of the year until Tuesday, while Walmart edged up 1.9%. Walmart, Target shares recover as CPI peaksReporting by Medha Singh in Bengaluru; additional reporting by Bansari Mayur KamdarOur Standards: The Thomson Reuters Trust Principles.

☆ Crypto stocks slide as FTX prepares for bankruptcy proceedings
▼ + stars: | 2022-11-11 | by ( ) www.reuters.com time to read: +2 min

Nov 11 (Reuters) - Shares of cryptocurrency and blockchain-related firms dropped on Friday after FTX, one of the biggest crypto exchanges, said it would initiate bankruptcy proceedings in the United States, triggering a potentially massive meltdown in the industry. Silvergate Capital (SI.N) declined 10%, leading the losses in the sector, while bitcoin holder MicroStrategy Inc (MSTR.O) slipped 2.6%. Bitcoin fell 3.6% to $16,919 as FTX Chief Executive Sam Bankman-Fried said he will step down from his position. The turmoil at FTX, which has rescued other players during the crypto market's recent crash, has raised concerns about the future of the crypto industry. ProShares Bitcoin Strategy ETF (BITO.P) fell 8%, while Short Bitcoin Strategy ETF (BITI.P) jumped 7.4%.

☆ Crypto markets in turmoil over FTX bankruptcy
▼ + stars: | 2022-11-11 | by ( ) www.reuters.com time to read: +9 min

Nov 11 (Reuters) - Crypto exchange FTX filed for U.S. bankruptcy on Friday and Sam Bankman-Fried stepped down as CEO, after a liquidity crisis that has prompted intervention from regulators around the world. FTX, its affiliated crypto trading fund Alameda Research and about 130 other companies have commenced voluntary Chapter 11 bankruptcy proceedings in Delaware, FTX said. MARKET REACTION:Shares of cryptocurrency and blockchain-related firms dropped on Friday after FTX, one of the biggest crypto exchanges, said it would initiate bankruptcy proceedings in the United States, triggering a potentially massive meltdown in the industry. "The shock was that this guy was the face of the crypto industry and it turned out that the emperor had no clothes. Ultimately, the lesson here is that the crypto industry needs to stop trusting cults of personality, no matter how well-intentioned they might seem."

Register now for FREE unlimited access to Reuters.com RegisterTo better prepare for defaults, AmEx built provisions of $778 million in the third quarter, compared with analysts' estimate of $604.1 million. Still, the company expects to report full-year profit above its prior forecast of $9.25 to $9.65 per share. The blending of work and leisure travel has also caught up, executives in the travel industry have said in recent months. Strong growth in travel and entertainment in its international markets helped AmEx beat September-quarter profit estimates. Revenue rose 24% to $13.6 billion, while expenses climbed 19% as AmEx had to spend heavily on customer rewards, compensation and marketing.

☆ Wall Street surges as market seeks bottoming signs
▼ + stars: | 2022-10-17 | by ( Reuters Staff | ) www.reuters.com time to read: +6 min

FILE PHOTO: 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. That seems to be the daily MO for the market.”PHIL BLANCATO CEO OF CEO OF LADENBURG THALMANN ASSET MANAGEMENT“This is the turnaround week every single year. If you look for the single best turnaround week for the year, it’s always the second week of October. The fourth quarter is on average the best quarter every single year and on average the turnaround week happens the second week of October. You’re seeing earnings hold on so far.

read moreCore CPI, which excludes volatile food and fuel prices, gained 6.6% last month, compared with the estimates of a 6.5% rise. FEDWATCHCyclical parts of the market, including the S&P 500 financials (.SPSY), energy (.SPNY) and materials (.SPLRCM) sector indexes, rose between 2% and 3%. Big Wall Street banks will kick-off third-quarter reporting season on Friday, with investors awaiting to see how a high interest-rate environment would affect their profit. Analysts expect profit for S&P 500 companies to have risen just 4.1% from a year ago, much lower than an 11.1% increase expected at the start of July, according to Refinitiv data. read moreAdvancing issues outnumbered decliners by a 1.38-to-1 ratio on the NYSE and by a 1.35-to-1 ratio on the Nasdaq.

☆ Aggressive Fed hikes rates another 75 bp, surprising no one
▼ + stars: | 2022-09-21 | by ( ) www.reuters.com time to read: +8 min

So this is a pretty hawkish 75 basis point increase when it comes to how the text reads." What it's telling us is that the Fed is expecting to rates to continue to move higher into 2023." There's a camp that says whatever the Fed guides to has typically been the floor and not the ceiling. This communication is basically signaling that the Fed's going to continue to be aggressive and remain hawkish. Not only did the Fed hike another unusually large 75 bps today, it is basically saying it will do it again in November.

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