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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. 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 ends mixed in truncated Black Friday trading
▼ + stars: | 2023-11-24 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

The S&P 500 (.SPX) closed nominally higher, while the Dow (.DJI) eked out a modest gain. Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., November 17, 2023. Of the 11 major sectors in the S&P 500, nine ended with gains, led by healthcare (.SPXHC). The S&P 500 posted 23 new 52-week highs and no new lows; the Nasdaq Composite recorded 77 new highs and 51 new lows. Volume on U.S. exchanges was 4.97 billion shares, compared with the 10.49 billion average for the full session over the last 20 trading days.

Persons: Peter Cardillo, Cardillo, Brendan McDermid, decliners, Stephen Culp, Sruthi Shankar, Shristi, Richard Chang Organizations: Nvidia, Vista Outdoor, Colt, Dow, Nasdaq, Spartan Capital Securities, Retailers, U.S, Insider Intelligence, Commerce, New York Stock Exchange, REUTERS, PMI, Dow Jones, Communication, Reuters, Czech, Xpeng, Volkswagen, NYSE, Thomson Locations: China, New York, U.S, New York City, Bengaluru

Eight of the 11 major S&P 500 sectors were in the red, with rate-sensitive real estate stocks (.SPLRCR) down 1.2% and leading declines. This week's economic data as well as speeches from Fed officials will provide clues on the trajectory of interest rates amid growing expectations that the Fed is done hiking borrowing costs. The major U.S. stock indexes have rebounded strongly this month, fueled by a stronger-than-expected earnings season and on hopes that U.S. interest rates are near their peak. The benchmark S&P 500 (.SPX) closed at near eight-week highs on Friday, while the tech-heavy Nasdaq (.IXIC) hit a two-month peak. The S&P index recorded 11 new 52-week highs and one new low, while the Nasdaq recorded 19 new highs and 82 new lows.

Persons: Brendan McDermid, Peter Cardillo, Cardillo, Mike Johnson, Abbott, advancers, Sruthi Shankar, Amruta, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Boeing, Dow, Nasdaq, Federal Reserve, Treasury, Microsoft, Apple, Spartan Capital Securities, . House, Republican, Dow Jones, Novo Nordisk's, Bloomberg News, Max, NYSE, Thomson Locations: New York City, U.S, China, Bengaluru

☆ Instant View: US jobs growth slows more than expected in October
▼ + stars: | 2023-11-03 | by ( ) www.reuters.com time to read: +2 min

MARKET REACTION:STOCKS: U.S. stock futures (.SPX) rose after the jobs data.BONDS: U.S. Treasury 10-year yield dropped to three-week low after the jobs report, last yield down at 4.562%. FOREX: The dollar index fell after the weaker-than-expected jobs report. There's not a lot of breadth in the markets and there's not a lot of breadth in the job gains anymore." Back month revisions were substantial as the BLS has consistently overestimated job gains this year, unlike last year where they consistently underestimated the gains. "This is a good sign that the labor market is weakening and is playing into the hands of the Fed.

Persons: Elizabeth Frantz, Detroit's, BRIAN JACOBSEN, MENOMONEE, That's, PETER CARDILLO Organizations: REUTERS, United Auto Workers, UAW, Labor Department's Bureau of Labor Statistics, Treasury, BLS, Fed, Global Finance, Markets, Thomson Locations: Arlington , Virginia, U.S, WISCONSIN, September's

☆ Investors on edge as Middle East conflict intensifies
▼ + stars: | 2023-10-28 | by ( Lewis Krauskopf | ) www.reuters.com time to read: +3 min

Investors have grown more worried about a widening conflict in recent days after the U.S. dispatched more military assets to the Middle East while Israel attacked targets in Gaza and Hamas supporters in Lebanon and Syria. Some investors also expect a widening conflict could prompt safe-haven buying of Treasuries. "However, an escalation of the conflict would likely shift attention away from monetary policy concerns and boost safe-haven demand for Treasuries." The Cboe Volatility index (.VIX) has climbed in the wake of the conflict and rose on Friday, approaching seven-month highs. The Federal Reserve is set to give its latest monetary policy statement on Wednesday, while Apple's quarterly results highlights another busy week of corporate reports.

Persons: Dado Ruvic, ”, Randy Frederick, Charles Schwab, Brent, Peter Cardillo, Lewis Krauskopf, David Randall, Ira Iosebashvili, David Gregorio Our Organizations: REUTERS, Federal, Hamas, Investors, U.S, Capital Economics, Spartan Capital Securities, UBS Global Wealth Management, Thomson Locations: Gaza, East, Israel, Lebanon, Syria, Treasuries, U.S

☆ Nasdaq ends down on higher yields, chipmaker share declines
▼ + stars: | 2023-10-17 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 15, 2023. U.S. Treasury yields rose on robust economic data. Higher yields dull the allure of stocks by offering investors comparatively high income on risk-free government bonds. Helping to limit the declines, though, were upbeat earnings reports from companies including Bank of America (BAC.N), whose stock was up following its quarterly results. In other earnings news, Goldman Sachs's (GS.N) third-quarter profit dropped less than expected, though its shares fell.

Persons: Brendan McDermid, Goldman Sachs, Biden, Peter Cardillo, Anthony Saglimbene, Joe Biden, Goldman Sachs's, Caroline Valetkevitch, Ankika Biswas, Shashwat Chauhan, Vinay Dwivedi, Deepa Babington Organizations: New York Stock Exchange, REUTERS, Companies, Biden, Semiconductor, Nvidia, Treasury, Bank of America, Spartan Capital Securities, Nasdaq, Dow Jones, Federal, Investors, U.S, Israel, Hamas, Thomson Locations: New York City, U.S, China, chipmakers, Philadelphia, New York, Troy , Michigan, Israeli, Gaza City, Gaza, Bengaluru

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 28, 2023. Top ranking Fed officials indicated rising yields on long-term U.S. Treasury bonds could steer the central bank from further increases in its short-term policy rate. Focus will be on remarks from a slew of Fed officials including Minneapolis' Neel Kashkari, San Francisco's Mary Daly and Board Governor Christopher Waller during the day. Advancing issues outnumbered decliners for a 2.57-to-1 ratio on the NYSE and a 1.93-to-1 ratio on the Nasdaq. The S&P index recorded four new 52-week highs and one new low, while the Nasdaq recorded 27 new highs and 86 new lows.

Persons: Brendan McDermid, Neel Kashkari, Mary Daly, Christopher Waller, Peter Cardillo, J.P.Morgan, decliners, Shashwat Chauhan, Ankika Biswas, Arun Koyyur, Shounak Organizations: New York Stock Exchange, REUTERS, PepsiCo, Dow, Nasdaq, Treasury, Federal, Columbus, Peoples, Traders, Dow Jones, Spartan Capital Securities, Truist, Rivian, UBS, EV, Skyworks Solutions, Citigroup, NYSE, Thomson Locations: New York City, U.S, Gaza, Minneapolis, Washington, Bengaluru

☆ Attack on Israel boosts appeal of gold, safe-haven assets
▼ + stars: | 2023-10-09 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Amir Cohen Acquire Licensing RightsNEW YORK, Oct 8 (Reuters) - The violence in Israel that erupted this weekend is prompting a move into safe-haven assets as investors closely watch events in the Middle East to gauge the geopolitical risk to markets. Gunmen from the Palestinian group Hamas entered Israel in an unprecedented attack on Saturday. Western countries, led by the United States, denounced the attack and pledged support for Israel. Rising geopolitical risk would see buying in assets like gold and the dollar , and boost demand for U.S. Treasuries, which have been sold off aggressively, analysts said over the weekend. "It seems Wall Street has a new geopolitical risk after Israel declared war with Hamas," said Edward Moya, senior market analyst at Oanda in New York.

Persons: Amir Cohen, Treasuries, Peter Cardillo, Cardillo, Stocks, Israel, Edward Moya, Brian Jacobsen, Iran’s, Jacobsen, " Jacobsen, David Kotok, Kevin McCarthy, Kotok, Megan Davies, Lisa Shumaker, Mark Porter, Schmollinger Organizations: REUTERS, Gunmen, Hamas, Israel, U.S, Spartan Capital Securities, U.S ., Analysts, Annex Wealth Management, Cumberland Advisors, Republicans, Representatives Locations: Gaza, Ashkelon, Israel, United States, Asia, New York, Iran, U.S, Saudi Arabia, Washington, Sarasota , Florida

☆ Attack on Israel likely to boost appeal of gold, safe haven assets
▼ + stars: | 2023-10-08 | by ( ) www.reuters.com time to read: +3 min

Israel's Iron Dome anti-missile system intercepts rockets launched from the Gaza Strip, as seen from Ashkelon in southern Israel October 7, 2023. Gunmen from the Palestinian group Hamas entered Israel in an unprecedented attack on Saturday. Western countries, led by the United States, denounced the attack and pledged support for Israel. Rising geopolitical risk could see buying in assets like gold and the dollar and potentially boost demand for U.S. Treasuries, which have been sold off aggressively, analysts said. Washington has been trying to strike a deal that would normalise ties between Israel and Saudi Arabia.

Persons: Amir Cohen, Peter Cardillo, Stocks, Brian Jacobsen, Jacobsen, David Kotok, Kevin McCarthy, Kotok, Megan Davies, Lisa Shumaker Organizations: REUTERS, Gunmen, Hamas, Israel, U.S, Spartan Capital Securities, U.S ., Annex Wealth Management, Iran’s, Cumberland Advisors, Republicans, Representatives, Thomson Locations: Gaza, Ashkelon, Israel, United States, Iran, U.S, Saudi Arabia, Washington, Sarasota , Florida

☆ Attack on Israel could boost appeal of gold and safe haven assets
▼ + stars: | 2023-10-08 | by ( ) www.reuters.com time to read: +3 min

Jobs growth for September nearly doubled expectations as nonfarm payrolls increased by 336,000 for the month, strengthening views that policymakers will need to keep interest rates elevated to cool inflation. Treasury yields move inversely to bond prices. “It’s quite a report,” said Peter Cardillo, chief market economist at Spartan Capital Securities. On the long end of the curve, 30-year yields surged above 5% hitting their highest since 2007. However, Craig Ellinger, head of Americas fixed income at UBS Asset Management, believes more rate increases could be in store.

Persons: Dado Ruvic, ”, Peter Cardillo, Jake Schurmeier, ” Alex McGrath, Tiffany Wilding, Craig Ellinger, Ellinger, Davide Barbuscia, David Randall, Saqib Iqbal Ahmed, Stephen Culp, Sruthi Shankar, Ira Iosebashvili, Chizu Nomiyama, Diane Craft Organizations: REUTERS, U.S, Treasury, Federal Reserve, Spartan Capital Securities, Harbor Capital, ADP, Fed, UBS Asset Management, Thomson Locations: Treasuries, Americas

☆ Wall St ends down slightly; investors await Friday's payrolls
▼ + stars: | 2023-10-05 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

Friday's monthly payrolls report could be the week's most important economic news, however, investors remained concerned about whether the Federal Reserve will keep rates higher for longer. Stocks ended well off their weakest levels of the session, and strategists noted the S&P 500 was holding above its 200-day moving average, currently at around 4,206. After recent market weakness, investors are keen for third-quarter earnings reports to kick off mid-month. S&P 500 company earnings overall are expected to have risen 1.6% year-over-year for the quarter, according to LSEG IBES data. The S&P 500 posted three new 52-week highs and 39 new lows; the Nasdaq Composite recorded 24 new highs and 330 new lows.

Persons: Stocks, Mary Daly, Peter Cardillo, Brendan McDermid, Caroline Valetkevitch, Ankika Biswas, Shashwat Chauhan, Shounak Dasgupta, David Gregorio Our Organizations: Companies, Dow, Nasdaq, Federal Reserve, Benchmark U.S, Treasury, Spartan Capital Securities, San Francisco Fed Bank, Economic, of New, New York Stock Exchange, REUTERS, Dow Jones, Dell Technologies, NYSE, Thomson Locations: New York, of New York, U.S, New York City, Bengaluru

Japanese yen and U.S. dollar banknotes are seen with a currency exchange rate graph in this illustration picture taken June 16, 2022. Meanwhile, a partial government shutdown is looming, which could affect the release of economic data and potentially dent economic growth. The greenback is up 3.54% against the yen this quarter, following an 8.66% gain last quarter. Core inflation in Japan's capital slowed in September for the third straight month mainly on falling fuel costs, data showed on Friday. The British currency is on track for a quarterly loss of 3.85% against the U.S. dollar, the worst performance in a year.

Persons: Florence Lo, ”, Peter Cardillo, Brown Brothers Harriman, “ We’re, Janet Yellen, Sterling, Karen Brettell, Amanda Cooper, Stephen Culp, David Holmes, Nick Zieminski Organizations: U.S, REUTERS, Spartan Capital Securities, Federal Reserve, Brown Brothers, Republicans, U.S . House, Treasury, U.S ., Thomson Locations: New York, U.S, London

☆ VIEW US core inflation slows in August, consumer spending rises
▼ + stars: | 2023-09-29 | by ( ) www.reuters.com time to read: +3 min

With gasoline price surging, inflation as measured by the personal consumption expenditures (PCE) price index rose 0.4% in August after climbing 0.2% in July. In the 12 months through August, the PCE price index advanced 3.5% after rising 3.4% in July. The annual PCE inflation is also being lifted by a lower base of comparison last year. MARKET REACTION:STOCKS: U.S. stock futures extended gains after August PCE data BONDS: U.S. Treasury 10-year note yield extended its fall to 4.5363% after the data. And the consumer is now beginning to feel higher interest rates - the higher cost of financing debt is beginning to impact their finances."

Persons: Mike Blake, RANDY FREDERICK, CHARLES SCHWAB, DANIEL PORTO, KIM FORREST, PETER CARDILLO Organizations: REUTERS, Treasury, Global Finance, Markets, Thomson Locations: Carlsbad , California, U.S, AUSTIN , TEXAS, PITTSBURGH

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 26, 2023. A pullback in the 10-year Treasury yields provided some relief to megacap growth stocks including Apple (AAPL.O), Microsoft (MSFT.O), Tesla (TSLA.O) and Alphabet (GOOGL.O), up between 0.4% and 0.6%, in premarket trading. Amazon.com (AMZN.O) edged 0.2% higher after Tuesday's sell-off following the U.S. Federal Trade Commission's antitrust lawsuit against the online retailer. Costco (COST.O) dipped 2% even though the wholesale retailer reported better-than-expected fourth-quarter results, with analysts pinning the fall on broader market concerns. Reporting by Ankika Biswas, Shashwat Chauhan and Amruta Khandekar in Bengaluru; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, Peter Cardillo, Jerome Powell's, gridlock, Ankika Biswas, Shashwat Chauhan, Amruta, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Costco, Dow, Nasdaq, Federal, Apple, Microsoft, U.S . Federal Trade, Dow e, Spartan Capital Securities, U.S . Senate, Republican, Rivian Automotive, Thomson Locations: New York City, U.S, New York, Bengaluru

Sept 1 (Reuters) - The U.S. Federal Reserve is likely done raising interest rates, traders bet on Friday after a government report showed the unemployment rate rose last month and wage growth cooled. Futures that settle to the Fed's policy rate had already priced in only a slight chance of a rate hike this month. "This report is likely to put the Fed on hold in September, and if we get more positive inflation news in September and October, the Fed is likely done, and we’ve seen the end of the rate hikes," said Peter Cardillo, chief market economist at Spartan Capital Securities. "In the labor market, some progress is being made in bringing demand and supply into better balance, but the job market is still strong,” she told a European Central Bank conference shortly after the latest jobs report. Traders currently see the Fed likely on hold through April 2024, with rate cuts to start in May.

Persons: we’ve, Peter Cardillo, Loretta Mester, Ann Saphir, Stephen Culp, Michael S, Lucia Mutikani, Alex Richardson, Andrea Ricci, Marguerita Choy Organizations: U.S . Federal, Labor Department, Employers, Spartan Capital Securities, Fed, Cleveland Fed, European Central Bank, Traders, Derby, Thomson

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 19, 2023. Hotter-than-expected U.S. producer prices data last week fanned concerns that the Federal Reserve could keep interest rates higher for longer, driving up U.S. Treasury yields and weighing on rate-sensitive big technology and growth stocks. Market focus will be on quarterly earnings from major U.S. retailers including Walmart (WMT.N) and Target (TGT.N) this week. Economic data expected includes retail sales for July as well as industrial production and jobless claims numbers. ET, Dow e-minis were up 59 points, or 0.17%, S&P 500 e-minis were up 8 points, or 0.18%, and Nasdaq 100 e-minis were up 41.5 points, or 0.27%.

Persons: Brendan McDermid, Tesla, We've, Peter Cardillo, treasuries, Goldman Sachs, Amruta Khandekar, Arun Koyyur, Maju Samuel Organizations: New York Stock Exchange, REUTERS, China AMC, Dow, Nasdaq, Federal Reserve, U.S, Treasury, Investors, Spartan Capital Securities, Microsoft, Apple Inc, Fed, Walmart, Dow e, AMC Entertainment, Nikola, U.S . Steel, Thomson Locations: New York City, U.S, China, Delaware, Cleveland, Bengaluru

U.S.-listed shares of Chinese companies also fell, with Alibaba , Baidu Inc and Nio Inc down between 2% and 6%. Economic data expected includes retail sales for July as well as industrial production and jobless claims numbers to gauge the direction for U.S. interest rates. Investors are basically staying on the sidelines until we get the economic news of the week," said Peter Cardillo, chief market economist at Spartan Capital Securities. AMC Entertainment common shares (AMC.N) fell 39.2% after a Delaware judge approved the theater chain's revised stockholder settlement on Friday. The S&P index recorded three new 52-week highs and six new lows, while the Nasdaq recorded 27 new highs and 93 new lows.

Persons: Brendan McDermid, Tesla, We've, Peter Cardillo, Alex Chriss, advancers, Amruta Khandekar, Arun Koyyur, Maju Samuel Organizations: New York Stock Exchange, REUTERS, China AMC, Dow, Nasdaq, Tesla, Alibaba, Baidu Inc, Nio Inc, Walmart, Federal Reserve, U.S, Treasury, Investors, Spartan Capital Securities, Traders, Dow Jones, PayPal Holdings, Intuit, AMC Entertainment, U.S . Steel, NYSE, Thomson Locations: New York City, U.S, China, Delaware, Cleveland, Bengaluru

☆ Fed raises interest rates, leaves door open to another increase - Reuters News
▼ + stars: | 2023-07-26 | by ( ) www.reuters.com time to read: +9 min

The rate hike, the Fed's 11th in its last 12 meetings, set the benchmark overnight interest rate in the 5.25%-5.50% range, and the accompanying policy statement left the door open to another increase. The Fed raised (the Fed funds target rate) by a quarter point and the vote was unanimous, and the move puts rates at a 22-year high." "We think recent data is consistent with the US policy rate peaking in July, as core CPI inflation slowed sharply in June. "Fed Chair Powell is going to suggest that for the time being that they need to assess more information for inflation. "Markets are for the most part becoming more confident the Fed won't have to raise rates in September.

Persons: GENNADIY GOLDBERG, J Powell, they've, They're, Powell, we've, ELLEN HAZEN, ” MICHAEL BROWN, JACK ABLIN, BRIAN JACOBSEN, MENOMONEE, ” PETER CARDILLO, Jackson, GURPREET GILL, GOLDMAN, QUINCY KROSBY, ” EDWARD MOYA, We'll, we'll Organizations: YORK, Federal Reserve, U.S, Treasury, Fed, Dow, Global Finance, Markets, Thomson Locations: U.S, WELLESLEY , MASSACHUSETTS, PALM BEACH , FLORIDA, WISCONSIN, GOLDMAN SACHS, CHARLOTTE, NORTH CAROLINA

☆ Bonds whipsaw, world stocks barely higher after mixed U.S. jobs data
▼ + stars: | 2023-07-07 | by ( Sinéad Carew | ) www.reuters.com time to read: +4 min

On Thursday, private payroll provider ADP's strong U.S. labour market data had sent equities lower and boosted Treasury yields. But Friday's government data prompted a more muted market reaction and barely changed expectations for the Federal Reserve's rate hiking cycle. The pan-European STOXX 600 index (.STOXX) rose 0.11% and MSCI's gauge of stocks across the globe (.MIWD00000PUS) gained 0.16%. Earlier, MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) closed 0.71% lower, while Japan's Nikkei (.N225) lost 1.17%. In commodities, oil prices were higher even as U.S. jobs data did little to allay fears of further interest rate hikes.

Persons: Mike Segar, nonfarm payrolls, Peter Cardillo, Brent, Sinéad Carew, Caroline Valetkevitch, Nell Mackenzie, Naomi Rovnick, Tom Westbrook, Andrew Heavens, David Holmes, David Evans Organizations: Wall, New York Stock Exchange, REUTERS, U.S, Federal, Spartan Capital Securities, Fed, Traders, Treasury, Dow Jones, Nasdaq, Japan's Nikkei, Thomson Locations: Manhattan, New York City , New York, U.S, Asia, Pacific, Japan, New York, London, Sydney

☆ Reaction: June US jobs growth cools, but wages won't comfort Fed
▼ + stars: | 2023-07-07 | by ( ) www.reuters.com time to read: +6 min

Nonfarm payrolls increased by 209,000 jobs last month, the Labor Department said on Friday. "Today's numbers confirm the job market is still strong... and this report gives the green light to the Fed to raise rates. "If anything, it probably confirms this idea that the Fed has had that they are making progress in the right direction." "It's not like this is a sudden vast improvement in the labor market." The hours worked numbers are rising slower than the payrolls numbers.

Persons: Nonfarm, payrolls, CANDICE, GOLDMAN, BEN JEFFERY, “, PETER CARDILLO, we're, STUART COLE, JASON PRIDE, MICHAEL BROWN, ”, ” BRIAN JACOBSEN, MENOMONEE Organizations: YORK, Labor Department, Reuters, Treasury, BMO, NFP, Fed, Global Finance, Markets, Thomson Locations: GOLDMAN SACHS, PHILADELPHIA, WISCONSIN

"Today's numbers confirm the job market is still strong... and this report gives the green light to the Fed to raise rates," said Peter Cardillo, chief market economist at Spartan Capital Securities. Five out of the 11 major S&P 500 sectors declined in early trading on Thursday. Wall Street's main indexes ended sharply lower in a broad selloff, with the benchmark S&P 500 posting its biggest daily percentage drop in six weeks. Among other early movers, the S&P 500 banking index (.SPXBK) gained 1%. The S&P index recorded one new 52-week highs and three new lows, while the Nasdaq recorded 13 new highs and 22 new lows.

Persons: Levi Strauss, Dow, Peter Cardillo, we're, Wells, Tesla, Bansari Mayur Kamdar, Johann M, Caroline Valetkevitch, Shinjini Organizations: Nasdaq, Fed, Spartan Capital Securities, Traders, Dow Jones, JPMorgan Chase, Citigroup, Alibaba, Ant Group, NYSE, Thomson Locations: Beijing, Washington, China, Bengaluru

All S&P 500 sub-sectors fell, with the rate-sensitive real estate sector (.SPLRCR) leading the declines, with a 0.8% drop. In the previous session, Wall Street's main indexes fell as investors booked profits in the wake of a sustained market rally amid signs of weakening global demand. Still, the benchmark S&P 500 (.SPX) has advanced around 14% so far this year. If a U.S. recession becomes more likely, Goldman Sachs (GS.N) said investors should maintain upside exposure to equities by using options to hedge a potential 23% fall in the S&P 500 index (.SPX). It holds chances of a recession at 25%, and in that base case, it expects the S&P 500 to rise to 4,500 - about 2.5% higher than current levels.

Persons: Jerome Powell, Powell, Volcker, that's, Peter Cardillo, Goldman Sachs, Li Auto, advancers, Shubham Batra, Johann M Cherian, Ankika Biswas, Stephen Culp, Arun Koyyur Organizations: FedEx, China EV, Dow, Financial, U.S, Fed, Spartan Capital Securities, United Parcel Service, Dow Jones, Nasdaq, Nio Inc, Xpeng, Adobe, Capital Markets, NYSE, Thomson Locations: China, U.S, Bengaluru

☆ VIEW US payrolls rise more than expected in May
▼ + stars: | 2023-06-02 | by ( ) www.reuters.com time to read: +5 min

Nonfarm payrolls increased by 339,000 jobs last month, the Labor Department said in its closely watched employment report on Friday. "This low wage inflation number is very good news for those of us who believe the Fed should pause." "The unemployment rate surprisingly moved from 3.4% to 3.7%. "We've seen some earnings warnings, there's a big lag in monetary policy, and we saw the unemployment rate tick up to 3.7%. Makes you wonder, is there going to be a rise in the (labor market) participation rate.

Persons: KIM FORREST, PETER CARDILLO, RILEY, we've, they're, We've, OLIVER PURSCHE, There's Organizations: YORK, Federal Reserve, Labor Department, Treasury, HOGAN, Fed, NEW, Global Finance, Markets, Thomson Locations: PITTSBURGH

☆ Instant View: Solid April US jobs report undermines case for Fed cut soon
▼ + stars: | 2023-05-05 | by ( ) www.reuters.com time to read: +8 min

ANTHONY SAGLIMBENE, CHIEF MARKET STRATEGIST, AMERIPRISE FINANCIAL, TROY, MICHIGAN“It's definitely telling you that the job market is still hot. PETER CARDILLO, CHIEF MARKET ECONOMIST, SPARTAN CAPITAL SECURITIES, NEW YORK“It was a hotter than expected report, it certainly didn’t show any cooling in the labor market. Hourly earnings were a little higher than I was looking for.”“Bottom line, this is a strong report and shows that the labor market is resilient. So I think the real focus is on the inflation numbers, and what's happening with wage growth. We are hopeful the continued strength of the jobs market and signs of slowing inflation will ease market volatility in the coming months.

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