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Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., October 27, 2023. Market participants now await policy comments from Powell at two separate discussions scheduled for 11 a.m. After recent conflicting remarks from other policymakers, investors are concerned that Powell could push back against the rate cut narrative. Other officials, including Fed Governors Lisa Cook and Chicago Fed President Austan Goolsbee are also scheduled to speak during the day. Reporting by Shristi Achar A and Amruta Khandekar in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, Powell, Jerome Powell's, Dow Jones, underscoring, Sophie Lund, Yates, Hargreaves Lansdown, Lisa Cook, Austan Goolsbee, Alibaba, Morgan Stanley, danuglipron, Paula Oyibo, Shristi Achar, Shinjini Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Federal, Chicago Fed, P Global, ISM, Dow e, Pfizer, Marvell Technology, Automation, Thomson Locations: New York City, U.S, Bengaluru

All eyes are now on the personal consumption expenditure (PCE) index- the Fed's preferred inflation gauge- for October, due at 8:30 a.m. ET, which is expected to show inflation eased in the previous month. The PCE index is expected to rise 0.1% on a monthly basis in October, moderating from a 0.4% increase in September. Data cloud company Snowflake (SNOW.N) added 8.2% after it forecast fourth-quarter product revenue above Street estimates on artificial intelligence driven demand. Reporting by Shristi Achar A and Amruta Khandekar in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

Persons: Caitlin Ochs, Russ Mould, AJ Bell, Jefferies, Shristi Achar, Shinjini Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Wall, Federal Reserve, Dow e, Ford Motor, Inc, Thomson Locations: New York City, U.S, Chicago, Bengaluru

While the Dow rose to 35,725.11 points, crossing its intraday high of 35,679.13 points hit in August, all three main indexes were on course for their strongest November since 2020. The S&P 500 (.SPX) and the tech-heavy Nasdaq (.IXIC) were also poised for their biggest monthly percentage gain since July 2022, on signs of cooling price pressures. The personal consumption expenditure (PCE) index - the Fed's preferred inflation gauge - showed inflation remained unchanged in October on a monthly basis, against economists' projections of a 0.1% increase. Core inflation, which excludes volatile food and energy prices, rose 0.2% on a monthly basis, in line with estimates. But most megacap stocks edged lower, with Tesla (TSLA.O) down 1.4% and leading declines, keeping the S&P 500 (.SPX) and Nasdaq (.SPX) under pressure.

Persons: Caitlin Ochs, Salesforce, Dow Jones, Dow, Anthony Saglimbene, Mary Daly, John Williams, Jefferies, Shristi Achar, Shinjini Organizations: New York Stock Exchange, REUTERS, Companies, Dow, Nasdaq, Reserve, U.S, Treasury, Fed, San Francisco Fed, Bank of New York, Dow Jones, Inc, NYSE, Thomson Locations: New York City, U.S, Troy , Michigan, Bengaluru

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., November 17, 2023. Wall Street indexes ended marginally higher on Tuesday after Fed Governor Christopher Waller, deemed a hawk, hinted at lower interest rates in the months ahead if inflation continued to ease. Other similar positive comments sent Treasury yields tumbling, with the yield on the benchmark 10-year note last at an over two-month low of 4.2840%. Fed Governor Michelle Bowman on Tuesday alluded to the possibility of another rate hike. Reporting by Shristi Achar A and Amruta Khandekar in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, Christopher Waller, Governor Bowman, Charalampos Pissouros, Michelle Bowman, Thomas Barkin, Shristi Achar, Shinjini Organizations: New York Stock Exchange, REUTERS, General Motors, Dow, Nasdaq, Treasury, Federal Reserve, XM, Nvidia, Richmond Fed, Dow e, CrowdStrike Holdings, Thomson Locations: New York City, U.S, Bengaluru

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., October 20, 2023. Multiple Fed policy voting members are scheduled to speak during the day, including Board Governors Christopher Waller and Michelle Bowman. Murphy & Sylvest's Nolte said investors were "digesting very, very strong gains for the month of November," referring to the declines. Declining issues outnumbered advancers for a 1.92-to-1 ratio on the NYSE and for a 1.63-to-1 ratio on the Nasdaq. Reporting by Shristi Achar A and Amruta Khandekar in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, Paul Nolte, Sylvest, Governors Christopher Waller, Michelle Bowman, Murphy, Sylvest's Nolte, advancers, Shristi Achar, Shinjini Organizations: New York Stock Exchange, REUTERS, billings Boeing, RBC, Nasdaq, Federal Reserve, Murphy, Governors, Reuters, Dow Jones, Micron Technology, RBC Capital Markets, PDD Holdings, NYSE, Thomson Locations: New York City, U.S, billings, Bengaluru

☆ Wall St ends lower amid Cyber Monday madness
▼ + stars: | 2023-11-27 | by ( Stephen Culp | ) www.reuters.com time to read: +5 min

Remarks from Federal Reserve policymakers later in the week will also be parsed for clues regarding the duration of the central bank's restrictive policy. Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., October 27, 2023. Amid the Cyber Monday fervor, Affirm Holdings (AFRM.O) surged 12.0%, as the payment platform's "buy now, pay later" option was seen hitting an all-time high, boosting the online holiday sales. Declining issues outnumbered advancing ones on the NYSE by a 1.25-to-1 ratio; on Nasdaq, a 1.63-to-1 ratio favored decliners. The S&P 500 posted 38 new 52-week highs and no new lows; the Nasdaq Composite recorded 84 new highs and 79 new lows.

Persons: Elliott, Tom Hainlin, Greg Bassuk, Brendan McDermid, they’ve, Hainlin, Shopify, Stephen Culp, Shristi Achar, Shinjini Ganguli, Matthew Lewis Organizations: Dow, Nasdaq, U.S, Bank Wealth Management, Adobe Analytics, AXS Investments, Federal Reserve, Financial, Commerce, New York Stock Exchange, REUTERS, Dow Jones, Elliott Investment Management, GE HealthCare, NYSE, Thomson Locations: Minneapolis, New York, New York City, U.S, Bengaluru

☆ Wall St pauses amid Cyber Monday madness; data, Fed speakers on tap
▼ + stars: | 2023-11-27 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., October 27, 2023. The tech-heavy Nasdaq was slightly higher, the Dow was edging red and the S&P 500 was essentially unchanged, but leaning lower. The S&P 500 Retail index (.SPXRT) was up 0.9%. Later in the week, market participants look to the Commerce Department's second take on third-quarter GDP expected on Wednesday, to be followed on Friday with its broad-ranging Personal Consumption Expenditures (PCE) report. The S&P 500 posted 34 new 52-week highs and no new lows; the Nasdaq Composite recorded 78 new highs and 64 new lows.

Persons: Brendan McDermid, Elliott, Dow, Greg Bassuk, Bassuk, Shopify, Stephen Culp, Shristi Achar, Shinjini Ganguli, Matthew Lewis Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Adobe Analytics, AXS Investments, Federal Reserve, Financial, Commerce, Dow Jones, Walmart, Elliott Investment Management, GE HealthCare, NYSE, Thomson Locations: New York City, U.S, New York, Bengaluru

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., October 27, 2023. The rebound in equities in November has brought the S&P 500 (.SPX) close to its highest intra-day level this year. "We are headed for a mixed session today...maybe something like profit taking at the beginning and then just a leveling off."U.S. The S&P 500 retail sector (.SPXRT), housing Amazon, rose 0.5%. The S&P index recorded 7 new 52-week highs and no new lows, while the Nasdaq recorded 34 new highs and 18 new lows.

Persons: Brendan McDermid, Elliott, Peter Cardillo, Jerome Powell, advancers, Shristi Achar, Saumyadeb Chakrabarty Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Federal Reserve, Spartan Capital Securities, Walmart, Reuters, Fed, Dow Jones, Crown, Elliott Investment Management, GE HealthCare, UBS, NYSE, Thomson Locations: New York City, U.S, Bengaluru

☆ Wall St climbs before holiday; investors optimistic Fed done hiking rates
▼ + stars: | 2023-11-23 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

Still, stocks have risen sharply in recent weeks on the view the Fed is done hiking rates. Big tech-related shares were among those giving the S&P 500 its biggest boost. Communication services (.SPLRCL) rose 0.9%, leading S&P 500 gains in all sectors except for energy (.SPNY), which fell 0.1%. Among the day's negatives, Nvidia's (NVDA.O) shares fell 2.5%, a day after the chip designer forecast overall fourth-quarter revenue above Wall Street targets, but warned U.S. export curbs could lead to a steep drop in sales in China. The S&P 500 posted 45 new 52-week highs and one new low; the Nasdaq Composite recorded 89 new highs and 104 new lows.

Persons: Quincy Krosby, Brendan McDermid, decliners, Caroline Valetkevitch, Amruta Khandekar, Maju Samuel, Pooja Desai, Richard Chang Organizations: Deere, Dow, Nasdaq, Federal, Financial, New York Stock Exchange, REUTERS, Dow Jones, Communication, Wall, U.S, Deere & Co, NYSE, Thomson Locations: China, Charlotte , North Carolina, New York City, U.S

☆ Wall St gains before holiday, investors optimistic Fed done raising rates
▼ + stars: | 2023-11-22 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., November 15, 2023. Among the day's economic data, the number of Americans filing new claims for unemployment benefits fell more than expected last week. Still, stocks have risen sharply in recent weeks on the view that Fed is done hiking rates. She said stocks tend to rise just before the Thanksgiving holiday and also to rally heading into year-end. The S&P 500 posted 45 new 52-week highs and one new low; the Nasdaq Composite recorded 80 new highs and 89 new lows.

Persons: Brendan McDermid, Quincy Krosby, Caterpillar, decliners, Amruta Khandekar, Maju Samuel, Pooja Desai, Richard Chang Organizations: New York Stock Exchange, REUTERS, Deere, Dow, Nasdaq, Financial, U.S, Dow Jones, Wall, Deere & Co, NYSE, Thomson Locations: New York City, U.S, China, Charlotte , North Carolina

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., November 15, 2023. Nvidia forecast overall revenue above Wall Street targets, but the company warned U.S. export curbs could lead to a steep drop in fourth-quarter sales in China. Shares of Nvidia had initially slipped in premarket trading, but reversed course to climb 1.1%. The central bank's guarded stance is weighing on enthusiasm about rate cuts coming later, Streeter said. ET, Dow e-minis were down 5 points, or 0.01%, S&P 500 e-minis were up 6 points, or 0.13%, and Nasdaq 100 e-minis were up 37.25 points, or 0.23%.

Persons: Brendan McDermid, Susannah Streeter, Hargreaves Lansdown, Sam Altman, Streeter, Caterpillar, Amruta Khandekar, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Deere, Co, Dow, Nasdaq, Nvidia, Wall, U.S, Hargreaves, OpenAI, Microsoft, Big Tech, University of, Dow e, Deere & Co, Thomson Locations: New York City, U.S, China

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., November 15, 2023. However, minutes from the latest Fed meeting on Tuesday showing policymakers' cautious approach towards monetary policy weighed on optimism around the prospects of a rate cut early next year. The three headwinds were higher energy prices, higher Treasury yields and a stronger dollar and for the last three weeks, all of those headwinds now become tailwinds," said Hogan. Advancing issues outnumbered decliners by a 2.31-to-1 ratio on the NYSE and by a 2.24-to-1 ratio on the Nasdaq. The S&P index recorded 34 new 52-week highs and one new low, while the Nasdaq recorded 54 new highs and 40 new lows.

Persons: Brendan McDermid, Art Hogan, Hogan, Sam Altman, Caterpillar, Amruta Khandekar, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Deere, Co, Dow, Nasdaq, Federal Reserve, Data, Riley, Traders, Nvidia, Wall, U.S, Investors, OpenAI, Microsoft, Dow Jones, Deere & Co, NYSE, Thomson Locations: New York City, U.S, China

The Nasdaq boasted its highest closing level since July 31 while the S&P 500 registered its highest close since Aug. 1. Its biggest boost came from Microsoft (MSFT.O) shares which touched a record high and ended up 2%. The benchmark S&P 500 (.SPX) ended less than 1% below its 2023 closing peak reached in late July. Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., October 27, 2023. The S&P 500 posted 29 new 52-week highs and one new low; the Nasdaq Composite recorded 78 new highs and 90 new lows.

Persons: Bristol Myers, Satya Nadella, Sam Altman, Greg Brockman, Bruce Zaro, Dow, Brendan McDermid, Germany's Bayer, decliners, Sinéad Carew, Amruta, Maju Samuel, Pooja Desai, Richard Chang Organizations: Microsoft, Bristol, Dow, Nasdaq, Nasdaq's, Nvidia, Apple, Granite Wealth Management, Dow Jones, Federal, New York Stock Exchange, REUTERS, Graphics, Traders, Bristol Myers Squibb, Sunday, Boeing, Deutsche Bank, NYSE, Thomson Locations: Providence , Rhode Island, New York City, U.S, Thursday's U.S, New York

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., November 17, 2023. Big Tech stocks, which have powered most of the S&P 500's gains this year, now face an important test, with Nvidia due to report third-quarter results after markets close. Declining issues outnumbered advancers for a 2.33-to-1 ratio on the NYSE and for a 2.04-to-1 ratio on the Nasdaq. The S&P index recorded 19 new 52-week highs and no new low, while the Nasdaq recorded 24 new highs and 36 new lows. Reporting by Amruta Khandekar and Shristi Achar A; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, Robert Pavlik, Pavlik, Lowe's Cos, advancers, Amruta Khandekar, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Big Tech, Nvidia, Dakota Wealth, Traders, Dow Jones, Kohl's, NYSE, Thomson Locations: New York City, U.S, China

☆ Futures drift lower as Nvidia results, Fed minutes loom
▼ + stars: | 2023-11-21 | by ( ) www.reuters.com time to read: +3 min

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., November 17, 2023. Big Tech stocks, which have powered most of the S&P 500's gains this year, now face an important test with Nvidia due to report third-quarter results after markets close. Before the quarterly report, minutes of the Fed's November meeting are likely to offer more cues on the monetary policy path after evidence of slowing inflation boosted expectations that U.S. interest rates had peaked. ET, Dow e-minis were down 51 points, or 0.14%, S&P 500 e-minis were down 4.75 points, or 0.1%, and Nasdaq 100 e-minis were down 4 points, or 0.02%. Among other stocks, U.S.-listed shares of Baidu gained 2% as China's biggest internet search engine provider's third-quarter revenue beat estimates.

Persons: Brendan McDermid, Stuart Cole, Cole, Amruta Khandekar, Ankika Biswas, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Big Tech, Nvidia, Equiti, Traders, Dow e, Baidu, Thomson Locations: New York City, U.S, China

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., October 27, 2023. The S&P 500 information technology sub-index (.SPLRCT), up 1.6%, was the top gainer among the S&P 500's 11 major sectors, getting its biggest boost from Microsoft's shares (MSFT.O) which touched a record high and were last up 2%. Microsoft will also take on Greg Brockman, another OpenAI cofounder, as well as other researchers. The benchmark S&P 500 (.SPX) was also closing back in on its year-to-date high reached in July, just a little over 1% below the milestone. The S&P 500 posted 25 new 52-week highs and one new low; the Nasdaq Composite recorded 70 new highs and 78 new lows.

Persons: Brendan McDermid, Bristol Myers, Satya Nadella, Sam Altman, Greg Brockman, Bruce Zaro, Germany's Bayer, decliners, Sinéad Carew, Amruta, Maju Samuel, Pooja Desai, Richard Chang Organizations: New York Stock Exchange, REUTERS, Microsoft, Bristol, Dow, Nasdaq, Apple, Nvidia, Investors, Granite Wealth Management, Dow Jones, Federal, Traders, Graphics, Bristol Myers Squibb, Sunday, Boeing, Deutsche Bank, NYSE, Thomson Locations: New York City, U.S, Providence , Rhode Island, Thursday's U.S, New York

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., October 27, 2023. Microsoft's shares (MSFT.O) advanced 2% before the bell after CEO Satya Nadella said Altman is set to join the company to lead a new advanced AI research team. Other megacap stocks were mixed, with Nvidia (NVDA.O) edging 0.6% higher, while Alphabet (GOOGL.O) slipped 0.8%. The benchmark S&P 500 (.SPX) is now only 2% away from its highest level this year reached in July. ET, Dow e-minis were up 18 points, or 0.05%, S&P 500 e-minis were up 3.5 points, or 0.08%, and Nasdaq 100 e-minis were up 28.25 points, or 0.18%.

Persons: Brendan McDermid, Bristol Myers, Sam Altman, Satya Nadella, Altman, Susannah Streeter, Hargreaves Lansdown, Nvidia, Germany's Bayer, Amruta Khandekar, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Microsoft, Bristol, Dow, Nasdaq, Federal Reserve, Nvidia, Fed, Traders, Dow e, Bristol Myers Squibb, Sunday, Thomson Locations: New York City, U.S

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., October 27, 2023. Microsoft's shares (MSFT.O) advanced 1.4%, notching a record high after CEO Satya Nadella said Altman is set to join the company to lead a new advanced AI research team. The Fed is expected to issue minutes of its November meeting on Tuesday, which will be parsed for clues on the direction of U.S. interest rates. Advancing issues outnumbered decliners by a 1.03-to-1 ratio on the NYSE and by a 1.39-to-1 ratio on the Nasdaq. The S&P index recorded eight new 52-week highs and one new low, while the Nasdaq recorded 32 new highs and 24 new lows.

Persons: Brendan McDermid, Bristol Myers, Sam Altman, Satya Nadella, Altman, Ken Polcari, Nvidia, Germany's Bayer, Amruta Khandekar, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Microsoft, Bristol, Dow, Nasdaq, Federal Reserve, Kace Capital Advisors, Traders, Dow Jones, Bristol Myers Squibb, Sunday, United Rentals, Ashtead, Boeing, Deutsche Bank, NYSE, Thomson Locations: New York City, U.S

The S&P 500 (.SPX), the Nasdaq (.IXIC) and the Dow (.DJI) registered their third straight week of gains. For the week, the S&P 500 added 2.2% while the Nasdaq composite rose 2.4% and the Dow climbed 1.9%. Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., November 15, 2023. REUTERS/Brendan McDermid Acquire Licensing RightsEnergy, finishing up 2.1%, was the biggest percentage gainer among the 11 major S&P 500 sectors as oil prices settled up more than 4%. The S&P 500 posted 18 new 52-week highs and 1 new lows; the Nasdaq Composite recorded 55 new highs and 97 new lows.

Persons: Michael Barr, Mary Daly, Susan Collins, Robert Phipps, Per Stirling's Phipps, Dow, Jack McIntyre, Brendan McDermid, Russell, Rick Wilmer, Sinéad Carew, Shristi, Maju Samuel, Pooja Desai, David Gregorio Our Organizations: Dow, Nasdaq, Federal, San Francisco Fed, Boston Fed, Applied Materials, U.S . Justice, Stirling, Dow Jones, Brandywine Global, Traders, New York Stock Exchange, REUTERS, Rights Energy, Technology, Microsoft, Ross Stores, Old Navy, ChargePoint Holdings, NYSE, Thomson Locations: U.S, China, Austin Texas, Philadelphia, New York City, New York, Bengaluru

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., November 15, 2023. The S&P 500 and the Nasdaq rose for the third straight session on Thursday as Treasury yields fell after higher-than-expected weekly jobless claims underscored market expectations that interest rates have peaked. The communication services index (.SPLRCL) led declines among the 11 major S&P 500 sectors, while energy shares (.SPNY) rose 1.1% as oil prices gained. Advancing issues outnumbered decliners by a 2.72-to-1 ratio on the NYSE and by a 1.88-to-1 ratio on the Nasdaq. Reporting by Shristi Achar A and Amruta Khandekar in Bengaluru; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, Michael Barr, Mary Daly, Daly, Thomas Hayes, Russell, Rick Wilmer, Shristi Achar, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Nasdaq, Federal Reserve, Treasury, Microsoft, Materials, San Francisco Fed, Great, Capital, Dow, Dow Jones, Old Navy, ChargePoint Holdings, NYSE, Thomson Locations: New York City, U.S, Bengaluru

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., November 15, 2023. The yield on the 10-year Treasury note dropped further to a two-month low on Friday and was last at 4.4082%. Most megacap stocks edged higher in premarket trading, with Amazon.com (AMZN.O) and Nvidia (NVDA.O) up 0.5% and 0.3% respectively. On the economic data front, markets will monitor the housing starts data for October, scheduled for release at 8:30 a.m. ET, Dow e-minis were up 93 points, or 0.27%, S&P 500 e-minis were up 10.75 points, or 0.24%, and Nasdaq 100 e-minis were up 6.5 points, or 0.04%.

Persons: Brendan McDermid, Russell, Mohit Kumar, Austan Goolsbee, Rick Wilmer, Shristi Achar, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Federal Reserve, Nvidia, Materials, Jefferies, Chicago Fed, Dow e, Old Navy, ChargePoint Holdings, Thomson Locations: New York City, U.S, Europe, Bengaluru

The logo of Lilly is seen on a wall of the Lilly France company unit, part of the Eli Lilly and Co drugmaker group, in Fegersheim near Strasbourg, France, February 1, 2018. REUTERS/Vincent Kessler Acquire Licensing RightsNov 17 (Reuters) - Retail flows into Eli Lilly (LLY.N) spiked to a more than two-year high in November, as small investors rushed to buy the stock after the U.S. pharma major received a highly anticipated approval for its weight-loss drug Zepbound. Lilly and Novo Nordisk (NOVOb.CO) - seen as leaders in a potential $100 billion obesity treatment market - have helped rekindle retail investor interest in the healthcare sector. "During the COVID period, retail investors were piling into healthcare because of the vaccines and after that there was a bit of a hangover of purchases. Reuters GraphicsRetail investors are now "catching up" with institutional investors, said Sel Hardy, vice president of equity research at CFRA.

Persons: Lilly, Eli Lilly, Vincent Kessler, Zepbound, Marco Iachini, Hardy, JPMorgan Chase, Vanda, Ozempic, drugmakers, Iachini, Bhanvi Satija, Sriraj Organizations: REUTERS, U.S . pharma, Vanda Research, Novo Nordisk, Graphics Retail, Sel Hardy, JPMorgan, BlackRock, AMC, Thomson Locations: Lilly France, Fegersheim, Strasbourg, France, U.S, Bengaluru

Target's bright outlook lifted shares of other retailers including Macy's (M.N), which rose 7.5%, and Kohl's (KSS.N), which closed up almost 9%. The S&P 500 consumer staples index (.SPLRCS), which includes Target, was the top sector gainer, adding 0.7%. "Those two data points reaffirmed the message from Tuesday that the Fed seems to be navigating the soft landing quite well," said Ronald Temple, chief market strategist at Lazard. Among individual stocks, retailer TJX's (TJX.N) shares fell 3.3% after it forecast current-quarter profit below Wall Street expectations, signaling spiraling costs weighing on margins. The S&P 500 posted 42 new 52-week highs and no new lows; the Nasdaq Composite recorded 106 new highs and 89 new lows.

Persons: ValueAct, Stocks, Ronald Temple, Wall, Temple, Brendan McDermid, Walt Disney, Russell, Joe Biden, Xi Jinping, Biden, Warren Buffett's Berkshire Hathaway, decliners, Sinéad Carew, Sruthi Shankar, Amruta, Shinjini Ganguli, Maju Samuel, Pooja Desai, Richard Chang Organizations: Dow, Nasdaq, Federal, Target, Reuters, Lazard, Dow Jones, New York Stock Exchange, REUTERS, Walt, ValueAct Capital, Money, U.S . House, Senate, Republican, TJX's, Sirius XM, NYSE, Thomson Locations: New York City, U.S, New York, Bengaluru

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., October 26, 2023. Shares of Cisco Systems (CSCO.O) shed 11.5% as the communications and networking firm cut its full-year revenue and profit forecasts on slowing demand for its networking equipment. However, regional (Fed) authorities have very diverse opinions and (it) confuses investors," said Peter Andersen, founder of Andersen Capital Management in Boston. However, Andersen said he is still optimistic about the possibility of a soft landing for the economy and a year-end rally. Declining issues outnumbered advancers for a 1.02-to-1 ratio on the NYSE and for a 1.45-to-1 ratio on the Nasdaq.

Persons: Brendan McDermid, Peter Andersen, Andersen, Michael Barr, Li Auto, Joe Biden, Xi Jinping, advancers, Shristi Achar, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Cisco, Dow, Nasdaq, Walmart, Cisco Systems, Target, U.S . Federal, Andersen Capital Management, Treasury, Labor, Dow Jones, Palo Alto Networks, Baidu, U.S, NYSE, Thomson Locations: New York City, U.S, Boston, billings, Bengaluru

[1/3] Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., November 15, 2023. The bright outlook lifted shares of other retailers including Macy's (M.N) and Kohl's (KSS.N), while the S&P 500 consumer staples index (.SPLRCS), which includes Target, was among the top sector gainers. "Those two data points reaffirmed the message from Tuesday that the Fed seems to be navigating the soft landing quite well," said Ronald Temple, chief market strategist at Lazard. The benchmark S&P 500 (.SPX) and the tech-heavy Nasdaq (.IXIC) had posted their biggest daily percentage gains in more than six months on Tuesday, after the consumer prices data. The S&P 500 posted 42 new 52-week highs and no new lows; the Nasdaq Composite recorded 104 new highs and 69 new lows.

Persons: Brendan McDermid, ValueAct, Stocks, Ronald Temple, Temple, Joe Biden, Xi Jinping, Biden, Walt Disney, Warren Buffett's Berkshire Hathaway, decliners, Sinéad Carew, Sruthi Shankar, Amruta, Shinjini Ganguli, Maju Samuel, Pooja Desai, Richard Chang Organizations: New York Stock Exchange, REUTERS, Companies, Dow, Nasdaq, Federal, Reuters, Lazard, Dow Jones, U.S . House, Senate, Republican, ValueAct Capital, Sirius XM, NYSE, Thomson Locations: New York City, U.S, New York, Bengaluru

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