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The ADP National Employment report showed U.S. private employment rose by 145,000 jobs last month, compared with economists' projections of an increase of 200,000 jobs, adding to recent signs of a cooling labor market. With growing concerns about a worsening economic outlook following the recent turmoil in the banking sector, market expectations have shifted in favor of the U.S. central bank hitting the brakes on its interest rate hikes. "But at the same time, I think investors are closely watching to make sure that we don't fall into a deep recession." Traders' bets of a pause by the Fed in May shot up to 62.2%, while odds of a 25-basis point interest rate hike fell to 37.8%, according to CME Group's Fedwatch tool. All eyes are now on the non-farm payrolls data for March, a more comprehensive employment report, that is due on Friday for more conclusive clues on the state of the labor market.

Of the 11 S&P 500 sector indexes, seven declined, led lower by industrials (.SPLRCI), down 2.25%, followed by a 1.72% loss in energy (.SPNY). The S&P 500 declined 0.58% to end the session at 4,100.68 points, closing lower for the first time in a week. The Nasdaq declined 0.52% to 12,126.33 points, while the Dow Jones Industrial Average declined 0.59% to 33,403.04 points. REUTERS/Brendan McDermidHealthcare (.SPXHC) and utilities (.SPLRCU), which many investors expect to hold up better during an economic slowdown, were among the few S&P 500 sector indexes gaining on Tuesday. The S&P 500 posted 14 new highs and one new lows; the Nasdaq recorded 64 new highs and 238 new lows.

☆ Futures fall as investors await key economic data amid recession fears
▼ + stars: | 2023-04-05 | by ( ) www.reuters.com time to read: +3 min

ET, Dow e-minis were down 46 points, or 0.14%, S&P 500 e-minis were down 8.75 points, or 0.21%, and Nasdaq 100 e-minis were down 30.5 points, or 0.23%. Weak job openings data and falling factory orders on Tuesday followed soft manufacturing activity data on Monday, sparking fresh concerns about economic outlook and pushing the S&P 500 (.SPX) to snap a four-day winning streak in the prior session. Escalating oil prices following the OPEC+ group's output cuts have also worsened the outlook for inflation, adding to investors' anxiety. Both the benchmark S&P 500 and tech-heavy Nasdaq (.IXIC) are on track to notch weekly declines in four in the holiday-shortened week. Reporting by Ankika Biswas in Bengaluru; Editing by Nivedita BhattacharjeeOur Standards: The Thomson Reuters Trust Principles.

The ADP National Employment report showed U.S. private employment rose by 145,000 jobs last month, compared with economists' projections of an increase of 200,000 jobs, adding to recent signs of a cooling economy. Traders' bets of a pause by the Fed in May shot up to 60.8%, while odds of a 25-basis point interest rate hike fell to 39.2%, according to CME Group's Fedwatch tool. Defensive stocks such as healthcare (.SPXHC), utilities (.SPLRCU) and consumer staples (.SPLRCS) were in the green among major S&P 500 sectors. All eyes are now on the non-farm payrolls data for March, a more comprehensive employment report, that is due on Friday for further clues on the state of the labor market. Both the benchmark S&P 500 and the tech-heavy Nasdaq (.IXIC) are now on track for their first weekly declines in four in the holiday-shortened week.

☆ Futures edge higher as tech and growth stocks gain; focus on jobs data
▼ + stars: | 2023-04-04 | by ( ) www.reuters.com time to read: +3 min

Oil prices extended gains on Tuesday, with investor attention shifting to demand trends and the impact of higher prices on the global economy. Energy firms Chevron Corp (CVX.N), Exxon Mobil Corp (XOM.N) and Occidental Petroleum Corp (OXY.N) were set to extend gains, rising between 0.5% and 0.9% premarket. Among stocks, Virgin Orbit Holdings Inc (VORB.O) tanked 25% after the satellite launch company filed for Chapter 11 bankruptcy on failing to secure long-term funding. Etsy Inc (ETSY.O) gained 3.8% after Piper Sandler upgraded the consumer e-commerce platform's stock to "overweight". Reporting by Ankika Biswas in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

☆ SNAPSHOT S&P 500, Nasdaq rise as economic data eases rate hike worries
▼ + stars: | 2023-04-04 | by ( ) www.reuters.com time to read: 1 min

April 4 (Reuters) - The S&P 500 and the Nasdaq gained on Tuesday as a higher-than-expected fall in U.S. job openings and factory orders during the month of February supported hopes that the Federal Reserve may go easy on future interest rate hikes. According to the Labor Department, job openings fell to 9.9 million in February against economists' projections of 10.4 million. Further, factory orders decreased 0.7% in February, higher than economists' projections of a 0.5% decrease. ET, the Dow Jones Industrial Average (.DJI) was down 31.04 points, or 0.09%, at 33,570.11, the S&P 500 (.SPX) was up 2.75 points, or 0.07%, at 4,127.26, and the Nasdaq Composite (.IXIC) was up 16.54 points, or 0.14%, at 12,205.99. Reporting by Ankika Biswas in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

This comes just days after cooling inflation raised hopes that the Fed could soon end its aggressive monetary tightening. Shares of other energy firms such as Exxon Mobil Corp (XOM.N) and Occidental Petroleum Corp (OXY.N) were also up 4.9% and 6.0%, respectively, helping drive a 5.2% jump in the energy sector. The tech-heavy Nasdaq recorded its strongest first-quarter jump of 17% since mid-2020. Among other stocks, shares of American Airlines Group Inc (AAL.O) and Delta Air Lines Inc (DAL.N) edged 0.6% and 1.3% lower on rising crude prices. The S&P index recorded seven new 52-week highs and no new low, while the Nasdaq recorded 40 new highs and 28 new lows.

☆ S&P, Nasdaq futures fall on inflation worries after OPEC+ output cut
▼ + stars: | 2023-04-03 | by ( ) www.reuters.com time to read: +2 min

SummarySummary Companies Futures mixed: Dow up 0.36%, S&P down 0.10%, Nasdaq down 0.64%April 3 (Reuters) - Futures tracking the S&P 500 and the Nasdaq fell on Monday as soaring oil prices renewed worries of persistent inflationary pressures, while energy stocks surged at the start of the week. Saudi Arabia and other OPEC+ oil producers announced further oil output cuts of around 1.16 million barrels per day, threatening an immediate rise in prices. Oil prices jumped 5.4% on Monday, propelling over 3% gains in energy firms such as Exxon Mobil Corp (XOM.N) and Chevron Corp (CVX.N) in premarket trade. ET, Dow e-minis were up 119 points, or 0.36%, S&P 500 e-minis were down 4 points, or 0.10%, and Nasdaq 100 e-minis were down 84.5 points, or 0.64%. Remarks by Federal Reserve Board Governor Lisa Cook on economic outlook and monetary policy are also expected later on Monday.

☆ Indexes jump on inflation data; Nasdaq posts best qtr since 2020
▼ + stars: | 2023-03-31 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

The quarterly gains came despite a sharp sell-off in bank stocks following the collapse of two regional banks earlier this month and worries about a potential bigger financial crisis. The S&P 500 financial sector (.SPSY) was the quarter's worst-performing sector, posting a 6.1% drop, while the KBW regional bank index (.KRX) fell 18.6% for the period. For the quarter, the Nasdaq jumped 16.8% in its biggest quarterly percentage increase since the three months ended June 2020. The S&P 500 gained 7% and the Dow rose 0.4% in the quarter, based on the latest available data. The S&P 500 posted 19 new 52-week highs and no new lows; the Nasdaq Composite recorded 81 new highs and 131 new lows.

☆ Nasdaq set for best qtr since 2020, latest inflation data a boost
▼ + stars: | 2023-03-31 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +2 min

The S&P 500 (.SPX) was on track to post a second straight quarter of gains, led by the technology sector's (.SPLRCT) 20% rise. The quarterly gains came despite a sharp sell-off in bank stocks following the collapse of two regional banks earlier this month. "The equity market seems to be delighted with the slight tick lower in inflation, as it should be. The Dow Jones Industrial Average (.DJI) rose 266.83 points, or 0.81%, to 33,125.86, the S&P 500 (.SPX) gained 38.09 points, or 0.94%, at 4,088.92 and the Nasdaq Composite (.IXIC) added 152.08 points, or 1.27%, at 12,165.56. The S&P 500 posted 15 new 52-week highs and no new lows; the Nasdaq Composite recorded 69 new highs and 106 new lows.

Among major S&P 500 sectors, technology (.SPLRCT) has quarterly gains of about 20%, while the financials index (.SPSY) is set for its worst quarter since June. A closely watched Commerce Department report on Friday showed U.S. consumer spending rose moderately in February, while inflation also cooled. Limiting gains, Micron Technology (MU.O) dropped 2.7% after news that China was set to review the chipmaker's products sold in the country. Advancing issues outnumbered decliners by a 5.73-to-1 ratio on the NYSE and by a 2.76-to-1 ratio on the Nasdaq. The S&P index recorded 14 new 52-week highs and no new low, while the Nasdaq recorded 57 new highs and 98 new lows.

SummarySummary Companies February PCE growth slowsVirgin Orbit announces layoff plans, shares tankFutures up: Dow 0.37%, S&P 0.28%, Nasdaq 0.14%March 31 (Reuters) - Wall Street's main indexes were set to open higher on Friday after data showed inflation slowed in February, supporting hopes of a softer monetary policy approach from the Federal Reserve. Traders' bets of a 25-basis-point rate hike in May stand at 55.5%, with odds of a pause at 44.5%, according to CME Group's Fedwatch tool. "But in terms of the Fed's calculus, they'll have to have more confirmation that disinflation is really taking hold beyond just a few data points here and there." U.S. 10-year Treasury yields fell to a session low of 3.534% after the data. The KBW Regional banking index (.KRX) and the S&P 500 banks index (.SPXBK), which houses major banks, have lost 19% and 14%, respectively, so far during the quarter.

SummarySummary Companies February PCE data due at 8:30 am ETVirgin Orbit announces layoff plans, shares tankFutures mixed: Dow up 0.23%, S&P up 0.19%, Nasdaq flatMarch 31 (Reuters) - U.S. stock index futures were mixed on Friday as investors awaited inflation data for cues on the Federal Reserve's monetary policy path amid receding fears of a banking crisis. The Commerce Department is expected to release the February reading of the personal consumption expenditures (PCE) price index, the Fed's preferred measure of inflation, at 8:30 am ET (12:30 GMT). The KBW Regional banking index (.KRX) and the S&P 500 banks index (.SPXBK), which houses major banks, have lost 19% and 14%, respectively, so far during the quarter. ET, Dow e-minis were up 76 points, or 0.23%, S&P 500 e-minis were up 7.75 points, or 0.19%, and Nasdaq 100 e-minis were up 1.25 points, or 0.01%. Reporting by Amruta Khandekar and Ankika Biswas; Editing by Nivedita Bhattacharjee and Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

☆ Wall Street jumps with rosy outlooks from companies
▼ + stars: | 2023-03-29 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

Micron (MU.O) shares shot up 7.2%, boosting the Nasdaq and S&P 500, and leading gains in the PHLX semiconductor index (.SOX), which closed 3.3% higher. Lululemon surges after strong reoprtThe bulk of S&P 500 companies begin reporting on the first quarter in mid-April. On Monday, regional U.S. lender First Citizens BancShares scooped up the assets of Silicon Valley Bank. Michael Barr, Fed Vice Chair for Supervision, told Congress the scope of blame for Silicon Valley Bank's failure stretches across bank executives. The S&P 500 posted 9 new 52-week highs and no new lows; the Nasdaq Composite recorded 69 new highs and 135 new lows.

☆ Wall Street gains with rosy outlooks from Micron, other companies
▼ + stars: | 2023-03-29 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

Micron (MU.O) shares were up 7%, boosting the Nasdaq and S&P 500, and leading gains in the PHLX semiconductor index (.SOX), which was up 2.6%. The memory chip maker late Tuesday forecast a drop in third-quarter revenue in line with Wall Street expectations, while it gave a rosy outlook for 2025 with artificial intelligence boosting sales. Micron is sort of a microcosm of the global economy because their chips go into so many different industries and sectors. The bulk of S&P 500 companies begin reporting on the first quarter after mid-April. The S&P 500 posted 9 new 52-week highs and no new lows; the Nasdaq Composite recorded 57 new highs and 113 new lows.

Larger peers Bank of America (BAC.N), Goldman Sachs (GS.N) and JPMorgan Chase & Co (JPM.N) rose between 0.7% and 1%. "Markets are calmer as the tension of the banking situation is lessening. The CBOE volatility index (.VIX), known as Wall Street's fear gauge, fell to its lowest since March 9, reflecting easing investor anxiety. ET, Dow e-minis were up 216 points, or 0.66%, S&P 500 e-minis were up 32.5 points, or 0.81%, and Nasdaq 100 e-minis were up 114.25 points, or 0.9%. Reporting by Amruta Khandekar; Editing by Dhanya Ann Thoppil and Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

Larger peers Bank of America (BAC.N), Goldman Sachs (GS.N) and JPMorgan Chase & Co (JPM.N) rose between 0.7% and 1.6% in premarket trade. "Markets are calmer as the tension of the banking situation is lessening. A key inflation reading expected at the end of the week will provide more clues on the Fed's monetary tightening plans. ET, Dow e-minis were up 244 points, or 0.75%, S&P 500 e-minis were up 35.25 points, or 0.88%, and Nasdaq 100 e-minis were up 109.25 points, or 0.86%. Reporting by Amruta Khandekar; Editing by Dhanya Ann Thoppil and Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

☆ Wall Street ends volatile week higher as Fed officials ease bank fears
▼ + stars: | 2023-03-24 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

"Wall Street is taking its cues from Washington and other capitals as it relates to interest rates and banking regulations." "The Fed may be jaw-boning a bit as it says more rate increases may be coming this year," JPMorgan's Carter added. Worries over potential contagion beyond regional banks threatening to spread to their larger peers was sparked by a sell-off of European bank shares. While the S&P Bank index (.SPXBK) ended modestly lower, the KBW Regional Bank index (.KRX) jumped 2.9%. Regional lenders PacWest Bancorp , Western Alliance Bancorp (WAL.N) jumped 3.2% and 5.8%, respectively, while First Republic Bank (FRC.N) dropped 1.4%.

Shares of major U.S. banks JPMorgan Chase & Co (JPM.N), Wells Fargo (WFC.N) and Bank of America (BAC.N) dropped more than 2% in premarket trade. Shares of regional lenders First Republic Bank (FRC.N), PacWest Bancorp (PACW.O), Western Alliance Bancorp (WAL.N) and Truist Financial Corp (TFC.N) fell between 2.1% and 2.8%. European banks also came under pressure, with a report of a U.S. probe on Credit Suisse and UBS (UBS.N) further souring the mood. ET, Dow e-minis were down 304 points, or 0.94%, S&P 500 e-minis were down 31.5 points, or 0.79%, and Nasdaq 100 e-minis were down 59 points, or 0.46%. Reporting by Amruta Khandekar and Ankika Biswas; Editing by Sriraj Kalluvila and Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

☆ Wall St ends higher as Yellen vows actions to safeguard deposits
▼ + stars: | 2023-03-23 | by ( Stephen Culp | ) www.reuters.com time to read: +3 min

"The market as a whole is telling you is there are a lot of different ways to interpret all the things people are saying." Interest rate hikes by central banks around the world have stressed the banking sector, which became manifest with the recent failures of SVB Financial Group (SIVB.O) and Signature Bank (SBNY.O). Comments from the Bank of England that inflation will probably quickly fade also helped fuel hopes of light at the end of the central bank tightening tunnel. "Every central bank that was on path to raise rates raised them," GLOBALT's Martin added. Shares of First Republic Bank (FRC.N) dropped in volatile trading in the wake of Yellen's testimony.

☆ Wall Street rallies on hopes of Fed policy pause
▼ + stars: | 2023-03-23 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

"Today the market is bouncing back on what was a dovish Fed hike yesterday," said Ross Mayfield, investment strategy analyst at Baird in Louisville, Kentucky. "Powell did a good job sticking to the party line on inflation and continued to jawbone hawkish even though the hike leaned dovish." Comments from the Bank of England that inflation will probably quickly fade also helped fuel hopes of light at the end of the central bank tightening tunnel. Among the 11 sectors of the S&P 500, communication services (.SPLRCL) and tech (.SPLRCT) led the percentage gainers. The S&P 500 posted four new 52-week highs and 14 new lows; the Nasdaq Composite recorded 45 new highs and 197 new lows.

Traders' bets are almost equally split between the Fed pausing its rate hikes in May and another 25 bps hike, according to CME Group's Fedwatch tool. Communication services (.SPLRCL) and information technology (.SPLRCT) led the gains among the S&P 500 sector indexes, all of which rose, except utilities (.SPLRCU). Bank of America (BAC.N) and UBS (UBS.N) now see the Fed funds rate target peaking at 5-5.25% in May compared to earlier forecasts of 5.25-5.5%. Advancing issues outnumbered decliners by a 3.62-to-1 ratio on the NYSE and 3.27-to-1 ratio on the Nasdaq. The S&P index recorded one new 52-week high and five new lows, while the Nasdaq recorded 17 new highs and 27 new lows.

Bank of America (BAC.N) and UBS (UBS.N) now see the Fed funds rate target peaking at 5-5.25% in May compared to earlier forecasts of 5.25-5.5%. Nvidia Corp (NVDA.O) rose 1.9% after Needham raised its price target on the chipmaker on likely benefit from near-term data center strength. ET is expected to show a rise in jobless claims last week, hinting at some cooling in labor demand. Regeneron Pharmaceuticals Inc (REGN.O) jumped 8.6% on promising results on its blockbuster asthma drug Dupixent from a lung disease trial. Reporting by Amruta Khandekar and Ankika Biswas in Bengaluru; Editing by Savio D'Souza and Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

Fed Chairman Jerome Powell sought to reassure investors about the soundness of the banking system, saying that the management of Silicon Valley Bank "failed badly," but that the bank's collapse did not indicate wider weaknesses in the banking system. "These are not weaknesses that are running broadly through the banking system," he said, adding that the takeover of Credit Suisse seemed to have been a positive outcome. The Federal Open Market Committee policy statement also said the U.S. banking system is "sound and resilient." The much-anticipated rate cut by the Fed, which had delivered eight previous rate hikes in the past year, sought to balance the risk of rampant inflation with the threat of instability in the banking system. The banking sector has been in turmoil after California regulators on March 10 closed Silicon Valley Bank in the largest U.S. bank failure since the 2008 financial crisis.

The latest move to restore calm to restive regional bank stocks came as Pacific Western Bank (PACW.O), one of the regional lenders caught up in the market volatility, said it had raised $1.4 billion from investment firm Atlas SP Partners. While that deal brought some respite to battered banking stocks, First Republic (FRC.N) remains firmly in the spotlight. For now, the rescue of Credit Suisse appears to have calmed the worst fears of systemic contagion, boosting shares of European banks (.SX7P) and U.S. lenders (.SPXBK). Reuters Graphics Reuters Graphics'HEAD IN SAND'The wipeout of Credit Suisse's Additional Tier-1 (AT1) bondholders has sent shockwaves through bank debt markets. Seeking to boost confidence among investors rattled by its $3 billion Credit Suisse rescue, UBS said on Wednesday it would buy back 2.75 billion euros ($2.96 billion) worth of debt it issued less than week ago.

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