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☆ Futures rise on China reopening optimism, easing rate hike worries
▼ + stars: | 2023-01-09 | by ( ) www.reuters.com time to read: +3 min

A key inflation report due on Thursday will provide further cues on the state of price pressures and the outlook for interest rates. The U.S. Labor Department's consumer prices index (CPI) report is expected to show prices increased by 6.5% year-on-year in December, moderating from a 7.1% rise in November. "Sentiment still feels as fragile as a teacup and U.S. inflation numbers on Thursday could provide a key test for investor confidence." ET, Dow e-minis were up 89 points, or 0.26%, S&P 500 e-minis were up 12.5 points, or 0.32%, and Nasdaq 100 e-minis were up 30.25 points, or 0.27%. Reporting by Shubham Batra and Amruta Khandekar in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

☆ Dollar tentative as investors assess rate-hike path
▼ + stars: | 2023-01-09 | by ( ) www.reuters.com time to read: +3 min

That led the dollar index , which measures the U.S. dollar against six major currencies, 1.15% lower on Friday. On Monday, the index, which gained 8% in 2022, was 0.01% higher at 103.720. Analysts, however, point to the still tight labour market that is likely to concern Fed officials. With the next Fed meeting scheduled at the start of next month, investors will focus on the consumer price index data due on Thursday. The Australian dollar rose 0.17% versus the U.S. currency to $0.689, while the kiwi gained 0.02% to $0.635.

☆ Gold prices gain on hopes of smaller U.S. rate hikes
▼ + stars: | 2023-01-09 | by ( ) www.cnbc.com time to read: +2 min

Gold prices advanced to an eight-month high on Monday, as a weaker dollar made greenback-priced bullion cheaper for overseas buyers while hopes of less-aggressive U.S. rate hikes also lifted sentiment. Spot gold was up 0.7% at $1,878.55 per ounce, as of 0256 GMT, its highest level since May 9, 2022. U.S. gold futures also rose 0.7% to $1,883.20. The dollar index slipped 0.3%. Market participants will now turn to Fed Chair Jerome Powell's speech at a central bank conference in Stockholm on Tuesday and U.S. consumer price index data due on Thursday.

☆ Gold scales 8-month high as Fed slowdown prospects lift appetite
▼ + stars: | 2023-01-09 | by ( Ashitha Shivaprasad | ) www.reuters.com time to read: +2 min

Spot gold was up 0.7% at $1,878.55 per ounce, as of 0256 GMT, its highest level since May 9, 2022. U.S. gold futures also rose 0.7% to $1,883.20. The dollar index slipped 0.3%. Market participants will now turn to Fed Chair Jerome Powell's speech at a central bank conference in Stockholm on Tuesday and U.S. consumer price index data due on Thursday. "This week's CPI data would be key.

Other rate-sensitive growth stocks like Apple Inc (AAPL.O) and Alphabet Inc (GOOGL.O) gained about 1% each as U.S. Treasury yields declined. The gains pushed technology (.SPLRCT) to the top of the major S&P 500 sector indexes list. The S&P 500 growth index (.IGX) was up 3.6%, outperforming a 0.7% rise in its value peers (.IVX). Advancing issues outnumbered decliners for a 3.68-to-1 ratio on the NYSE and a 2.15-to-1 ratio on the Nasdaq. The S&P index recorded 10 new 52-week highs and two new lows, while the Nasdaq recorded 95 new highs and 14 new lows.

☆ Inflation drops sharply in Europe but some prices are still rising faster
▼ + stars: | 2023-01-06 | by ( Julia Horowitz | ) edition.cnn.com time to read: +1 min

London CNN —Inflation in Europe continued to decline in December as energy prices rose at a slower pace. In November, prices rose 10.1%. Core inflation, which strips out volatile food and energy prices, reached 5.2% in December, up from 5% in November. The data is likely to encourage the European Central Bank to stick with its policy of raising borrowing costs. The central bank, which aggressively hiked interest rates last year, has indicated it will continue with increases in 2023.

Today, there are 54 Hispanic American banks and credit unions that are FDIC or NCUA insured around the US. We selected Hispanic American-owned credit unions from the National Credit Union Administration's list of minority depository institutions which was also updated in September 2022. In our list of Hispanic American-owned banks and credit unions, many of the institutions listed offer customer support in Spanish and English. You can open up savings accounts, checking accounts, CDs, and money market accounts in most of the institutions listed. To help you learn more about a specific Hispanic American-owned bank or credit union, we've included links to reviews of individual institutions.

☆ U.S. service sector contracts in December, price increases slow - ISM survey
▼ + stars: | 2023-01-06 | by ( ) www.reuters.com time to read: +3 min

The Institute for Supply Management (ISM) said on Friday its non-manufacturing PMI dropped to 49.6 last month from 56.5 in November. It was the first time since May 2020 that the services PMI fell below the 50 threshold, which indicates contraction in the sector that accounts for more than two-thirds of U.S. economic activity. Outside the COVID-19 pandemic slump, this was the weakest services PMI reading since late 2009. The weakness in the services sector came in the wake of another ISM survey this week showing manufacturing slumping for a second straight month in December. The ISM survey's gauge of new orders received by services businesses fell to 45.2 from 56.0 in November.

The nonfarm payrolls rose by 223,000 jobs in December, data from the Labor Department showed, while a 0.3% rise in average earnings was smaller than expected and lower than the previous month. The numbers for November were revised to show nonfarm payrolls rose by 256,000 and average earnings grew by 0.4%. Another set of data showed U.S. services activity contracted for the first time in more than 2-1/2 years in December amid weakening demand, with more signs of inflation abating. Except healthcare stocks (.SPXHC), all the major S&P 500 indexes were in the green led by gains in energy shares (.SPNY). The S&P index recorded 13 new 52-week highs and five new lows, while the Nasdaq recorded 45 new highs and 52 new lows.

For the week, both Brent and WTI were down over 8%, their biggest weekly dives to start the year since 2016. "The oil market might be regaining some composure following the bloodbath earlier this week, but the upside potential remains limited, at least in the near term. That U.S. jobs report caused the U.S. dollar to rally as investors bet that inflation is easing and the U.S. Federal Reserve (Fed) need not be as aggressive as some feared. A weaker dollar can boost demand for oil, as dollar-denominated commodities become cheaper for holders of other currencies. Stock markets in China, the world's largest crude oil importer, logged a five-day winning streak on Friday on investors' expectations that the Chinese economy would soon emerge from its COVID woes and stage a robust recovery in 2023.

☆ Appeals court rejects China Telecom bid to reverse U.S. ban
▼ + stars: | 2022-12-20 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

WASHINGTON, Dec 20 (Reuters) - A federal appeals court on Tuesday rejected China Telecom Corp's (0728.HK) challenge to a Federal Communications Commission order withdrawing the company's authority to provide services in the United States. A three-judge panel of the U.S. Court of Appeals for the District of Columbia rejected the bid by the U.S. arm of China Telecom to reverse the order that took effect in January. The FCC said in 2021 that China Telecom (Americas) "is subject to exploitation, influence and control by the Chinese government." A lawyer for China Telecom (Americas) and the FCC did not immediately comment. China Telecom had argued the FCC violated its rules by refusing to hold a hearing before revoking China Telecom (Americas)’ domestic and international common-carrier authorizations.

☆ Friday, Dec. 16, 2022: Cramer wants to buy more of these stocks 'gingerly'
▼ + stars: | 2022-12-16 | by ( Joshua Natoli | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFriday, Dec. 16, 2022: Cramer wants to buy more of these stocks 'gingerly'Jim Cramer and Jeff Marks break down what today's U.S. Services PMI report means for their market and inflation outlook. Jim goes in depth on several stocks he is looking to buy more of once they reach certain levels. Jim also shares a life lesson in finding a stock you like and investing in it.

☆ U.S. producer prices increase in November; trend slowing
▼ + stars: | 2022-12-09 | by ( Lucia Mutikani | ) www.reuters.com time to read: +4 min

The report from the Labor Department on Friday also showed underlying producer prices increasing at their slowest pace since April 2021 on a year-on-year basis. "Easing producer prices foreshadow an improving inflation environment," said Jeffrey Roach, chief economist at LPL Financial in Charlotte, North Carolina. However, the monthly increase in producer prices illustrates the need for continued tightening." A 3.3% increase in food prices was offset by a 3.3% drop in energy costs. Excluding the volatile food, energy and trade services components, producer prices gained 0.3% in November.

☆ Global equity funds record biggest weekly outflows in three months
▼ + stars: | 2022-12-09 | by ( ) www.reuters.com time to read: +2 min

According to Refinitiv Lipper data, investors offloaded a net $22.03 billion worth of global equity funds, marking their biggest weekly net selling since Sept. 7. read moreInvestors sold a net $26.65 billion in U.S. equity funds, although they purchased European and Asian equity funds worth $3.41 billion and $990 million, respectively. Fund flows: Global equity sector fundsMeanwhile, global bond funds attracted $8.54 billion in inflows after witnessing outflows for four weeks. Corporate bond funds received $2.17 billion, and government bond funds drew $1.06 billion, the biggest weekly inflow in three weeks, while outflows from short- and mid-term bond funds eased to a 16-week low of $272 million. According to data available for 24,734 emerging market (EM) funds, equity funds saw outflows of 1.06 billion after two straight weeks of inflows, but investors purchased $1.35 billion worth of bond funds.

☆ U.S. equity funds register biggest weekly outflow in about 1-1/2 years
▼ + stars: | 2022-12-09 | by ( ) www.reuters.com time to read: +2 min

According to data from Refinitiv Lipper, U.S. equity funds recorded withdrawals of $26.66 billion, the biggest weekly outflow since April 2021. Fund flows: US equity sector fundsMeanwhile, U.S. bond funds received a net $992 million in inflows after witnessing weekly outflows for four weeks. U.S. taxable bond funds had net purchases of $886 million after three weeks of selling in a row, although municipal bond funds suffered small outflows, amounting to $53 million. U.S. investors purchased high-yield bond funds of $318 million and government bond funds of $1.06 billion in their biggest weekly net purchase since Nov. 16. Fund flows: US bond fundsMeanwhile, U.S. money market funds obtained $36.19 billion in inflows, the biggest amount for a week since Nov. 2.

☆ Indian shares set to fall for third day on Fed rate-hike worries
▼ + stars: | 2022-12-08 | by ( ) www.reuters.com time to read: +2 min

BENGALURU, Dec 8 (Reuters) - Indian shares were set to dip for a third straight session on Thursday, as concerns over a possible U.S. recession and the pace of the Federal Reserve's rate hikes dampened sentiment. India's NSE stock futures listed on the Singapore exchange were down 0.07% at 18,658.50 as of 8:05 a.m. IST. U.S. worker productivity data for the third quarter beat forecasts on Wednesday, muddying a debate on the trajectory of Fed's rate hikes. Foreign institutional investors sold a net 12.42 billion rupees ($151.09 million) worth of equities on Wednesday, while domestic investors bought net 3.89 billion rupees ($47.32 million) worth of shares, as per provisional NSE data. read more** Axis Bank : Lender to raise up to 120 billion Indian rupees through sale of Basel III compliant Tier-II bonds.

☆ Dollar in demand as growth outlook darkens, yuan up as China eases curbs
▼ + stars: | 2022-12-07 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

Against the dollar, sterling was last 0.03% lower at $1.2131, after falling 0.4% overnight. It's part of our baseline," said Joseph Capurso, head of international and sustainable economics at Commonwealth Bank of Australia. Against a basket of currencies, the U.S. dollar index edged 0.07% higher to 105.62. The onshore yuan was last more than 0.2% higher at 6.9771 per dollar. "Anticipation of further easing of measures in China should continue to favor RMB (and) RMB-linked assets."

Dec 7 (Reuters) - Oil prices were mixed in early Asian trade on Wednesday after falling to their lowest settlement levels this year as economic uncertainty and the prospect of higher interest rates pressured prices. Brent crude futures rose 17 cents, or 0.2%, at 0107 GMT to $79.52 a barrel. U.S. crude futures fell 3 cents to $74.22 a barrel. These fears are sparked by strong economic data or hawkish signals from other policymakers. Oil prices have dropped by more than 1% for three straight sessions, giving up most of their gains for the year.

☆ Dollar edges up as darkening growth outlook hurts sentiment
▼ + stars: | 2022-12-07 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

SINGAPORE, Dec 7 (Reuters) - The dollar crept higher on Wednesday as top executives from the biggest U.S. banks warned of an impending recession, which dampened risk appetite and kept the greenback supported. Against the dollar, sterling fell 0.4% overnight, and was last 0.05% lower at $1.2128. It's part of our baseline," said Joseph Capurso, head of international and sustainable economics at Commonwealth Bank of Australia. Against a basket of currencies, the U.S. dollar index was last 0.05% higher at 105.60. The offshore yuan was last marginally higher at 6.9845 per dollar, having been supported by an easing of China's strictest COVID-19 restrictions.

☆ These ETFs can help investors navigate stubbornly high inflation in 2023
▼ + stars: | 2022-12-07 | by ( Jesse Pound | ) www.cnbc.com time to read: +3 min

Gargi Pal Chaudhuri, head of iShares Investment Strategy Americas, said that she expects inflation to still be above 3% by the end of 2023, driven by services inflation. However, there's also the other part of inflation which is services inflation. Services inflation makes up about 60% or so of the consumer basket," Chaudhuri said. One way to play this is through infrastructure vehicles, like the iShares U.S. Infrastructure ETF (IFRA) . The iShares TIPS ETF have a total return of about -10.4% this year.

☆ Saudi bourse at 19-month low on growth fears; Egypt extends gains
▼ + stars: | 2022-12-07 | by ( Ateeq Shariff | ) www.reuters.com time to read: +2 min

Dec 7 (Reuters) - Saudi Arabia's stock market led declines in much of the Gulf region on Wednesday, hitting its lowest since April last year as worries mounted about a global economic downturn. The Saudi bourse could see more losses while concerns remain around the developments in oil markets, Daniel Takieddine, CEO MENA at BDSwiss, said. In Abu Dhabi, the index (.FTFADGI) lost 0.7%, with the country's biggest lender First Abu Dhabi Bank (FAB.AD) down 1.9%. The Qatari index (.QSI), which wiped out its year-to-date gains in the previous session, retreated a further 1.3%. Outside the Gulf, Egypt's blue-chip index (.EGX30) finished 2% higher, gaining for a seventh session.

The major bourses in Europe also declined as concerns mounted about a global slowdown before a raft of major central bank rate decisions next week. The dollar gained against the euro, yen, British pound and Canadian dollar, among other major currencies. Treasury yields fell, but more at the long end of maturities than the short end, which deepened the inverted yield curve, a market indicator of a looming recession. The dollar rose as investors waited for next week's expected 50 basis points rate hike by the Fed. Euro zone government bond yields fell after two European Central Bank officials signaled inflation and rates may be close to peaking in the run-up to a raft of major central bank decisions.

☆ Oil prices fall on economic fears, dollar strength
▼ + stars: | 2022-12-06 | by ( Rowena Edwards | ) www.reuters.com time to read: +2 min

LONDON, Dec 6 (Reuters) - Oil prices fell in a volatile market on Tuesday as the U.S. dollar stayed strong and economic uncertainty offset the bullish impact of a price cap placed on Russian oil and the prospects of a demand boost in China. Brent crude futures fell $1.21, or $1.46%, to $81.47 a barrel by 1254 GMT. In China, more cities are easing COVID-19-related curbs, prompting expectations of increased demand in the world's top oil importer. The price cap adds to the disruption caused by the EU's embargo on imports of Russian crude by sea and similar pledges by the United States, Canada, Japan and Britain. Russia has declared its intention not to sell oil to anyone who signs up to the price cap.

☆ Dollar kept aloft by higher Fed rates bets, RBA rate hike lifts Aussie
▼ + stars: | 2022-12-06 | by ( Joice Alves | ) www.reuters.com time to read: +2 min

The Australian dollar perked up from near one-week lows after the Reserve Bank of Australia (RBA) raised rates for the eighth time in as many months. After recording its biggest rally in two weeks on Monday, the U.S. dollar index , which measures the currency against six major peers, was 0.1% lower at 105.05 at 1200 GMT. It later reversed course after data showing U.S. services industry activity unexpectedly picked up in November, with employment rebounding. Traders currently expect a half-point hike to a 4.25-4.5% policy band and a terminal rate of just above 5% in May. European Central Bank policymaker Constantinos Herodotou said on Tuesday interest rates will go up again but are now "very near" their neutral level.

☆ Oil prices fall on higher U.S. dollar, economic fears
▼ + stars: | 2022-12-06 | by ( Rowena Edwards | ) www.reuters.com time to read: +2 min

LONDON, Dec 6 (Reuters) - Oil prices fell in a volatile market on Tuesday, as a stronger U.S. dollar and economic uncertainty offset the bullish impact of a price cap placed on Russian oil and prospects of a demand boost in China. A stronger greenback makes dollar-denominated oil more expensive for buyers holding other currencies, reducing demand for the commodity. In China, more cities are easing COVID-19-related curbs, prompting optimism for increased demand in the world's top oil importer. The price cap comes on top of the EU's embargo on imports of Russian crude by sea and similar pledges by the United States, Canada, Japan and Britain. Russia has declared its intention not to sell oil to anyone who signs up to the price cap.

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