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The greenback briefly cut its losses after data showed the U.S. services sector grew at a steady pace in February, with new orders and employment rising to more than one-year highs. "This suggests traders think yields have been pushed too far, too fast, and could augur a peak in implied terminal rates," he added. "Next week's job opening and non-farm payrolls reports could generate a lift in yields and the dollar. The dollar eased 0.4% to 136.26 yen , after climbing to 137.10 on Thursday, the highest since Dec. 20. For the week, the dollar is down 0.4% versus the yen, but any gain would preserve its win streak since mid-January.

REUTERS/Andrew Kelly/File PhotoSummarySummary Companies U.S. stocks add to Thursday's gainsTreasury yields and dollar pull backEuropean, Asian stocks also advanceCrude oil prices fallMarch 3 (Reuters) - Wall Street stocks opened higher while Treasury yields and the dollar pulled back on Friday as risk appetite was boosted by data pointing to economic growth, even as expectations for rate hikes kept bond yields near multi-year highs. The recovery in euro zone business activity gathered pace last month, PMI survey data showed, in the latest piece of data to suggest the bloc will avoid a recession. U.S. Treasury yields paused their rally. The U.S. 10-year Treasury yield fell to 4.007%, down from Thursday's high of 4.091% . The two-year U.S. Treasury yield, which typically moves in step with interest rate expectations, was up 0.5 basis points at 4.909%.

☆ Morning Bid: Fed's 'slow and steady' lifts market mood
▼ + stars: | 2023-03-03 | by ( ) www.reuters.com time to read: +2 min

Futures indicate that the buoyant mood is set to continue in Europe, with the continent-wide STOXX 600 looking to end yet another week with gains. Markets took their cues from comments from Atlanta Fed President Raphael Bostic. "Slow and steady is going to be the appropriate course of action," he said, arguing for quarter point hikes. Also helping lift sentiment was services sector data from China, reviving the optimism that a robust recovery was well underway. The Caixin/S&P Global services purchasing managers' index (PMI) rose at the fastest pace in six months to 55.0 in February from 52.9 in January.

☆ Dow Breaks Four-Week Losing Streak After Services Data
▼ + stars: | 2023-03-03 | by ( Matt Wirz | Anna Hirtenstein | ) www.wsj.com time to read: 1 min

U.S. stocks gained Friday after data on the U.S. services sector showed its strongest activity since the summer. The signs of economic resilience outweighed concerns about inflation and tighter global monetary policy that prompted selling earlier in the week. The Nasdaq Composite jumped 226.02 points, or 2%, to 11689.01 as technology stocks recovered some of their losses from a dismal performance in February. The S&P 500 advanced 64.29 points, or 1.6%, to 4045.64 and the Dow Jones Industrial Average gained 387.40 points, or 1.2%, to 33390.97.

☆ China’s Post-Covid Bounce Has Arrived
▼ + stars: | 2023-03-01 | by ( Nathaniel Taplin | ) www.wsj.com time to read: 1 min

A heavy-machinery factory in Xuzhou, China. The country’s manufacturing rose in February to the highest levels since 2012. China’s economy has kicked off the year of the rabbit with a bounce worthy of its sprightly zodiac avatar. The January and February Chinese purchasing managers indexes are always worth watching because they are one of the few pieces of concrete data to emerge from China in late winter and early spring. Both the official and privately compiled Caixin manufacturing indexes jumped, with the former reaching 52.6, its highest since 2012.

☆ China’s Economy Seen Emerging From Zero-Covid Shadow
▼ + stars: | 2023-03-01 | by ( Stella Yifan Xie | Keith Zhai | ) www.wsj.com time to read: 1 min

A worker assembling a bean grinder for export at a factory in China’s Jiangsu province last month. HONG KONG—Economic activity in China expanded sharply for a second straight month, in an early sign the country may be shaking off the impact of pandemic curbs sooner than expected. A gauge of manufacturing rose at the fastest pace in more than a decade in February, while export orders expanded for the first time in almost two years, the National Bureau of Statistics said Wednesday. Services and construction activity also expanded further, the purchasing managers index report showed.

☆ Bitcoin edges higher after dismal February for risk assets as investors assess rate outlook and new China data
▼ + stars: | 2023-03-01 | by ( Carla Mozée | ) www.businessinsider.com time to read: +3 min

Bitcoin and other risk assets rose after strong Chinese manufacturing activity data. The coin on Wednesday was gaining ground on notably strong manufacturing data out of China. China's National Bureau of Statistics said its manufacturing activity index rose to 52.46 in February, the highest reading since April 2012, according to Bloomberg. Chinese stocks bounced higher, with the Hang Seng Index soaring more than 4%. Copper was another risk-on asset gaining ground, up 1.2% at $4.14 per pound on prospects of higher Chinese demand for the metal used for construction projects.

Feb 22 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever. Wall Street and world stocks had their worst day this year after purchasing managers index data showed that the U.S. services sector is roaring back to life. Stocks slumped, volatility and the dollar rose, the two-year Treasury yield neared November's post-2007 peak, the implied U.S. terminal rate rose to a new high of 5.36%, and a potential 50 basis point rate hike next month is coming on traders' radar. As analysts at Schroders put it: "A new regime in policy and market behavior is unfolding before our eyes." If the dollar and U.S. yields continue to rise, one of this year's consensus trades and the allocation of hundreds of billions of dollars to emerging markets will have to be revised.

The economic calendar and market trading grind back into gear on Tuesday, kicking off in Asia with the flash Aussie and Japanese PMIs for February. chartManufacturing activity in Japan has contracted for three months in a row and service-sector activity has expanded for five months, meaning overall economic activity grew in January for the first time in three months. Services and overall business activity as measured by the PMIs have been contracting for four months. This may be a good time to deliver growth-boosting rate cuts or ramp up liquidity injections even more. Here are three key developments that could provide more direction to markets on Tuesday:- Japan flash PMIs (February)- Australia flash PMIs (February)- Reserve Bank of Australia policy meeting minutesBy Jamie McGeever; Editing by Josie KaoOur Standards: The Thomson Reuters Trust Principles.

☆ Asian Shares track Wall Street's inflation optimism, yen recoups losses
▼ + stars: | 2023-02-14 | by ( Stella Qiu | ) www.reuters.com time to read: +4 min

Overnight on Wall Street, the S&P 500 (.SPX) rose 1.2%, while the Nasdaq (.IXIC) rallied 1.5% and Dow Jones (.DJI) was up 1.1%. Treasuries rallied a little, with the yield on the benchmark 10-year government bonds easing 2 basis points to 3.6940%. The two-year bond yields also eased from their three-month highs to hover at 4.5090%, compared with the previous close of 4.5340%. It weakened 0.2% against the Japanese yen to 132.13 yen, after gaining 0.8% the previous day. On Tuesday, the Japanese government is expected to name academic Kazuo Ueda as its pick to become next central bank governor.

☆ Five people injured after an American Airlines plane crashed into a passenger shuttle bus at LAX
▼ + stars: | 2023-02-11 | by ( Jordan Hart | ) www.businessinsider.com time to read: +2 min

A "slow-speed collision" involving a plane and a shuttle bus occurred at LAX Friday night, local reports say. While in transit, the plane swiped the bus, injuring five passengers. All five individuals were treated by paramedics, and four were transported to local hospitals, local news outlets reported. Although the windshield of the shuttle bus received extensive damage in the reported "slow-speed collision," the bus driver and two passengers were transported in fair condition, per ABC7. According to its official site, LAX offers free shuttle buses that transport passengers between terminals at the airport.

☆ Dollar on the front foot after robust U.S. jobs data, yen falters
▼ + stars: | 2023-02-06 | by ( Ankur Banerjee | ) www.reuters.com time to read: +3 min

The yen weakened to a three-week low of 132.60 per dollar after the report, and was last fetching 132.35, down 0.88%. Tapas Strickland, head of market economics at National Australia Bank, said Amamiya dovish policy credentials are raising uncertainty about BOJ's eventual exit from its ultra-easy monetary stance. The BOJ's loose policy settings have attracted increasing criticism from many quarters, including opposition politicians and traders, for distorting market function. But he also said in July the BOJ must "always" think about the means of exiting ultra-loose monetary policy. On Friday, the U.S. Labor Department's closely watched employment report showed that nonfarm payrolls surged by 517,000 jobs last month.

☆ Here’s our February rapid-fire update on all 34 stocks in Jim Cramer’s Investing Club portfolio
▼ + stars: | 2023-02-05 | by ( Matthew J. Belvedere | ) www.cnbc.com time to read: +12 min

Here's a rapid-fire update on all 34 stocks in Jim Cramer's Charitable Trust, the holdings we manage in the CNBC Investing Club. J & J is a good stock to get into ahead of the impending split into two companies: consumer brands and pharma/medical technology. The company reported a good quarter and guidance, while fundamentals are solid ahead of the split. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

The S&P 500 still posted a gain for the week, which included a string of major market events, and stood not far from five-month highs. U.S. job growth accelerated sharply in January, with nonfarm payrolls surging by 517,000 jobs, well above an estimate of 185,000. For the week, the S&P 500 rose 1.6%, the Dow slipped 0.15%, and the Nasdaq gained 3.3%. Alphabet (GOOGL.O) shares dropped 2.7% after the Google parent posted fourth-quarter profit and sales short of Wall Street expectations. The S&P 500 posted 16 new 52-week highs and one new low; the Nasdaq Composite recorded 127 new highs and 16 new lows.

☆ There's still a lot to like about Apple despite key misses in its December quarter
▼ + stars: | 2023-02-02 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

Despite headline misses, Apple gave us a lot to like under the hood in its fiscal 2023 first quarter. The worst appears to be behind us — and as a result, we reiterate our 1 rating and continue to believe that Apple stock is something to own for the long-term, not trade quarter to quarter. In its December quarter, Apple returned $19 billion via the repurchase of 133 million shares and another $3.8 billion in dividends. Moreover, nearly two-thirds of Apple Watch buyers in the quarter were new to the product. Within Services, we also saw all-time revenue records for cloud services, payment services and music and December quarter records for the App Store and AppleCare.

☆ Apple tries to be both desirable and predictable
▼ + stars: | 2023-02-02 | by ( Robert Cyran | ) www.reuters.com time to read: +3 min

In 2018, the company’s enterprise value was equivalent to 3 times estimated revenue for the year ahead, according to Refinitiv. One way to make sense of that is to break Apple’s valuation into parts. Deduct that from Apple’s enterprise value, and investors are pricing the services business at $1 trillion, around 10 times forecast revenue. Whether it’s justified, though, depends on what services Apple is peddling, and how steady and subscription-like they are. If 20% of Apple’s services are cyclical, for example, and investors put the same multiple of sales as those peers, the company's fair share price drops 5%.

☆ France hit by new wave of strikes against Macron's pension reform
▼ + stars: | 2023-01-31 | by ( ) www.cnbc.com time to read: +1 min

On the rail networks, only one in three high-speed TGV trains were operating and even fewer local and regional trains. Marching behind banners reading "No to the reform" or "We won't give up," many said they would take to the streets as often as needed for the government to back down. He sits in a chair ..., he can work until he's 70, even," she said. "We can't ask roof layers to work until 64, it's not possible." It's a real message sent to the government, saying we don't want the 64 years," Laurent Berger, who leads CFDT, France's largest union, said ahead of the Paris march.

☆ Factbox: Britain on strike: Which workers are walking out on Feb. 1 and Feb. 6?
▼ + stars: | 2023-01-31 | by ( ) www.reuters.com time to read: +3 min

Healthcare workers are also taking coordinated action on Feb. 6 for the first time, in what is set to be the biggest day of action in Britain's state-funded National Health Service. TEACHERSTeachers from the National Education Union in England and Wales will take the first of several days of strike action, impacting 23,400 schools. GOVERNMENT STAFFMore than 100,000 workers from the PCS union in government departments and public bodies will take part in a one-day strike. The GMB said more than 10,000 ambulance workers in England and Wales, including paramedics, emergency care assistants and call handlers, will strike on Feb. 6, Feb. 20, March 6 and March 20. Unite said ambulance workers in England would walk out on Feb. 6, Feb. 17, Feb. 20, Feb. 22, Mar.

☆ Inflation has cooled, but investors risk being caught off guard by a 'head fake' that could kill the latest stock-market rally
▼ + stars: | 2023-01-28 | by ( Carla Mozée | ) www.businessinsider.com time to read: +4 min

Stocks are off to a strong start in 2023 after last year's selloff, with cooling inflation a pillar of support. But there's stickiness in services inflation, and that poses downside risks for equities, analysts said. Wage growth has eased but an even slower pace would suit the Fed's inflation-fighting goal. The Fed has been zeroing in on wage growth, Draho said. Annual average hourly wage growth was 4.6% in December.

☆ Premarket stocks: Wall Street is ignoring the Fed. That could be dangerous
▼ + stars: | 2023-01-27 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

Price increases are also moderating: December brought the sixth consecutive monthly fall in consumer price index (CPI) inflation to 6.5%. That’s a change from 2022 when the Fed and the market tended to move in unison. This could mean that the upcoming Fed meeting will generate a lot of market disappointment, said Christian Scherrmann, an economist at DWS Group. The Fed flagged investors’ persistent belief in a pivot away from elevated rates as something that could hurt efforts to restore price stability. But even though the lawsuit drives at the heart of Google’s revenue machine, it could take years to play out.

REUTERS/Kamil KrzaczynskiSummary U.S. business activity better than expected, but remains softEuro zone posts surprise return to modest growthBritain PMI falls at fastest rate in two years, surveys showNEW YORK/LONDON Jan 24 (Reuters) - The downturn in U.S. business activity eased slightly in January even as it contracted for the seventh straight month while euro zone business activity made a surprise return to modest growth, as two of the world's major economies hope to avert recession this year, surveys showed on Wednesday. Reuters Graphics Reuters GraphicsEURO ZONE BOUNCES BACKThe Euro zone is showing more resilience. Business activity there made a surprise return to modest growth in January, adding to signs the downturn in the bloc may not be as deep as feared and that the currency union may escape recession. In France, the bloc's second-biggest economy, output fell slightly overall again in January, its PMI showed, but manufacturing activity improved for the first time since August. In the Euro zone, there was mixed news on inflation pressures, according to the PMI survey.

☆ How to decode a package shipping label, from the jumbled letters to the sea of barcodes
▼ + stars: | 2023-01-19 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +6 min

Here's how to break down what's on most e-commerce package labels. What can a package label tell you? A package label can tell you a lot about where the package has been, how far it traveled, and even what's inside. The recipient and the destination address is in the middle, return address at the top left. Next to the return address is usually the weight of the package — a good thing to check on big items before lifting.

☆ Tips for investing in 2023 as a potential recession looms large
▼ + stars: | 2023-01-14 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

Callie Cox: The biggest risks include whether the Fed can get inflation down, and whether we enter a recession. The job market and corporate earnings are the two catalysts that make me think we can avoid those risks. CC: The Fed will be more responsive to what's happening in the job market, because the job market directly impacts inflation. Services inflation — think rent, haircuts, insurance prices — is still growing at a 7% clip annually, which is way too high in the Fed's mind. And the kicker here is that services inflation is the type of inflation that the Fed can best control through the job market.

Megacap growth stocks Apple Inc (AAPL.O), Alphabet Inc (GOOGL.O) and Microsoft Corp (MSFT.O) gained over 2% each as U.S. Treasury yields declined. The highly awaited U.S. Labor Department's inflation report on Thursday is expected to show some moderation in year-on-year consumer prices in December. Advancing issues outnumbered decliners for a 4.45-to-1 ratio on the NYSE and a 2.54-to-1 ratio on the Nasdaq. The S&P index recorded 12 new 52-week highs and two new lows, while the Nasdaq recorded 107 new highs and 18 new lows. Reporting by Shubham Batra, Amruta Khandekar and Ankika Biswas in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

"The number of jobs created is working its way down slowly and wages are starting to calm down. Money market bets show 75% odds of a 25-basis point hike in the Fed's February policy meeting, with the terminal rate expected just below 5% by June. ET, Dow e-minis were up 103 points, or 0.30%, S&P 500 e-minis were up 16 points, or 0.41%, and Nasdaq 100 e-minis were up 56.75 points, or 0.51%. Macy's Inc (M.N) and Lululemon Athletica Inc (LULU.O) dropped 4.7% and 10%, respectively, following dour holiday-quarter forecasts from both the retailers. Reporting by Shubham Batra, Amruta Khandekar and Ankika Biswas in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

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