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☆ Bitcoin and crypto stocks rise after the Fed cuts rates by half a percentage point
▼ + stars: | 2024-09-19 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

The price of bitcoin was recently higher by 3.5% at $62,417.48, according to Coin Metrics, building on a rally underway before the central bank decision Wednesday. Stocks tied to the price of bitcoin climbed in early trading Thursday. MicroStrategy , widely used as a high beta play on the price of bitcoin, gained 5%. It isn't out of the woods yet, however, said Yuya Hasegawa, crypto market analyst at Japanese bitcoin exchange Bitbank. "Bitcoin has some time until the BOJ makes the decision and could extend its gain during Thursday's U.S. session.

Persons: bitcoin, Stocks, Yuya Hasegawa, Bitcoin Organizations: Metrics, Federal Reserve, Nasdaq, Bank of, Thursday's U.S

[1/2] An aerial view shows a crude oil tanker at an oil terminal off Waidiao island in Zhoushan, Zhejiang province, China January 4, 2023. Both contracts had their first weekly gain in five weeks as OPEC+ prepares for a meeting that will have output cuts high on the agenda after recent oil price declines on demand concerns and burgeoning supply, particularly from non-OPEC producers. OPEC+ has moved closer to a compromise with African oil producers on 2024 output levels, three OPEC+ sources have told Reuters. "Fundamentals developments have been bearish with rising U.S. oil inventories," ANZ analysts said in a note. Analysts say oil demand growth could weaken to about 4% in the first half of 2024 as the property sector crunch weighs on diesel use.

Persons: John Kilduff, Tony Sycamore, Brent, Craig Erlam, Tina Teng, Paul Carsten, Natalie Grover, Colleen Howe, David Goodman, Louise Heavens, Marguerita Choy Organizations: REUTERS, U.S, Brent, West Texas, Organization of, Petroleum, Reuters, OANDA, ANZ, Petrobras, Thomson Locations: Zhoushan, Zhejiang province, China, Gaza, OPEC, Wednesday's, WTI, Israel, New York, Russia, U.S, London, Beijing

☆ Stocks in Asia hit 2-month high, dollar defensive on Fed view
▼ + stars: | 2023-11-21 | by ( Ankur Banerjee | ) www.reuters.com time to read: +5 min

A passerby walks past an electric monitor displaying various countries' stock price index outside a bank in Tokyo, Japan, March 22, 2023. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was 0.97% higher at 510.11 having touched 511.05, the highest since Sept. 18. In rest of Asia, Japan's Nikkei (.N225) edged higher and remained close to the 33-year high it toucehd on Monday. The Japanese yen strengthened 0.22% to 148.03 per dollar, lifting away from the one-year low of 151.92 it touched last week. The Australian dollar , often seen as a barometer of risk appetite, touched a three-month high of $0.65775 earlier in the session.

Persons: Issei Kato, DAX, Wall, Sam Altman, Ben Bennett, Nicholas Chia, murmurs, Hong, HSI, Brent, Ankur Banerjee, Jacqueline Wong, Lincoln Organizations: REUTERS, Rights, . Federal, Nvidia, Microsoft, Stock, Traders, Legal, General Investment Management, Standard Chartered, Japan's Nikkei, Thomson Locations: Tokyo, Japan, Rights SINGAPORE, Asia, Pacific, Europe, Thursday's U.S

☆ Asian stocks hit 2-month high on Wall St rally, Fed view
▼ + stars: | 2023-11-21 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was 0.91% higher at 509.82 having touched 510.42, the highest since Sept. 18. The index is up 7% for the month and on course for its biggest monthly gain since January. The index is up roughly 28% this year, making it the best performing stock market in Asia. Lower yields kept the dollar on the back foot, with the dollar index , which measures the U.S. currency against a basket of six major currencies, down 0.058% at 103.37. The Australian dollar , often seen as a barometer of risk appetite, touched a three-month high of $0.65775 earlier in the session.

Persons: Kim Kyung, Hong, HSI, Wall, Sam Altman, Ben Bennett, Rob Carnell, Brent, Ankur Banerjee, Jacqueline Wong Organizations: Nikkei, REUTERS, Rights, . Federal, Japan's Nikkei, Microsoft, Nvidia, Stock, Traders, Legal, General Investment Management, Treasury, OPEC, Thomson Locations: Tokyo, Japan, Rights SINGAPORE, Asia, Pacific, Thursday's U.S, Russia, 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

[1/3] Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., November 17, 2023. Closely watched U.S. treasury yields slipped after auction, while global oil futures gained $2 on the prospect of supply cuts. Europe's benchmark STOXX index (.STOXX) inched up 0.1%, with energy stocks (.SXEP) leading gains. The healthcare sector (.SXDP) fell after shares in Bayer (BAYGn.DE) dropped to their lowest in 14 years. The dollar index fell to 103.26, its weakest since the start of September, as investors appeared to solidify bets that the Fed could start cutting interest rates next year.

Persons: Brendan McDermid, Dow Jones, Quincy Krosby, Krosby, Ricardo Evangelista, Goldman Sachs, Moody's, Brent, Chris Prentice, Wayne Cole, Lawrence White, Lincoln, Susan Fenton, Will Dunham, Sharon Singleton, Andrew Heavens Organizations: New York Stock Exchange, REUTERS, Nvidia, U.S, Bayer, Nasdaq, Microsoft, Nikkei, Trading, LPL, Tech, European Central Bank, NAB, Thomson Locations: New York City, U.S, SYDNEY, Thursday's U.S, United States, Europe, Italy, New York, Sydney, London

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

☆ Morning Bid: Rate jitters are back
▼ + stars: | 2023-10-13 | by ( ) www.reuters.com time to read: +3 min

[1/2] Produce is displayed at Best World Supermarket in the Mount Pleasant neighborhood of Washington, D.C., U.S., August 19, 2022. Thursday's U.S. consumer price data stoked expectations that the Federal Reserve is perhaps not yet done with monetary tightening. Markets are now pricing in about a 40% probability of a rate hike in December, versus a 28% chance before the report. In recent comments, Fed officials have cited rising bond yields as a factor that may allow them to end the rate hike cycle. But the latest data has brought some of the rate jitters back.

Persons: Sarah Silbiger, Ankur Banerjee, Edmund Klamann Organizations: Washington , D.C, REUTERS, Federal, JPMorgan Chase, Thomson Locations: Mount Pleasant, Washington ,, Ankur, Spain, France, Sweden, China, U.S, Asia, Pacific, Japan, Singapore's

☆ Canadian dollar dips as oil prices pull back
▼ + stars: | 2023-10-11 | by ( Fergal Smith | ) www.reuters.com time to read: +2 min

A Canadian dollar coin, commonly known as the "Loonie", is pictured in this illustration picture taken in Toronto January 23, 2015. REUTERS/Mark Blinch/File Photo Acquire Licensing RightsSummary Canadian dollar weakens 0.1% against the greenbackTrades in a range of 1.3572 to 1.3623Price of U.S. oil settles 2.9% lower10-year yield eases 6.1 basis pointsTORONTO, Oct 11 (Reuters) - The Canadian dollar edged lower against its U.S. counterpart on Wednesday, giving back some recent gains, as oil prices fell and investors turned attention to a key U.S. inflation report. On Tuesday, it touched its strongest intraday level since Oct. 2 at 1.3567, supported by a drop in bond yields globally and higher oil prices after conflict broke out over the weekend in the Middle East. I think that's one of the reasons that CAD is a little weaker today," said Erik Bregar, director, FX & precious metals risk management at Silver Gold Bull. U.S. crude oil futures settled 2.9% lower at $83.49 a barrel after top OPEC producer Saudi Arabia pledged to help stabilize the market.

Persons: Mark Blinch, Price, Erik Bregar, Bregar, clawing, Fergal Smith, Jonathan Oatis Organizations: REUTERS, greenback, U.S, Bull, Saudi, Federal Reserve, Thomson Locations: Toronto, TORONTO, U.S, Saudi Arabia, Thursday's U.S

☆ Oil prices firm on upbeat demand growth forecasts
▼ + stars: | 2023-08-11 | by ( Ahmad Ghaddar | ) www.reuters.com time to read: +2 min

A 3D-printed oil pump jack is seen in front of displayed OPEC logo in this illustration picture, April 14, 2020. REUTERS/Dado Ruvic/File PhotoSummary IEA says tighter inventories could push prices higherOPEC flags healthy oil market fundamentals in second halfU.S. consumer prices rise moderately in JulyLONDON, Aug 11 (Reuters) - Oil prices gained ground on Friday amid optimistic demand forecasts from the OPEC producer group and the International Energy Agency (IEA). The Organization of the Petroleum Exporting Countries (OPEC) on Thursday said it expects global oil demand to rise by 2.25 million bpd in 2024, compared with growth of 2.44 million bpd this year. In 2024 "solid" economic growth amid continued improvements in China is expected to boost oil consumption, it added. Data this week also showed China's consumer prices fell into deflation and factory gate prices extended declines in July, raising concerns about fuel demand in the world's second-largest economy.

Persons: Dado, Brent, Tamas Varga, Ahmad Ghaddar, Andrew Hayley, David Goodman, Jason Neely Organizations: REUTERS, International Energy Agency, West Texas, of, Petroleum, Thursday's U.S, Federal Reserve, Thomson Locations: OPEC, China, Saudi Arabia, Russia, Ukraine, June's, Beijing

A 3D-printed oil pump jack is seen in front of displayed OPEC logo in this illustration picture, April 14, 2020. REUTERS/Dado Ruvic/File PhotoSummary OPEC flags healthy oil market fundamentals in second halfUS consumer prices rise moderately in JulyChina tips into deflation as efforts to stoke recovery falterBEIJING, Aug 11 (Reuters) - Oil prices fell marginally on Friday as investors weighed optimistic demand forecasts from the OPEC producer group against mixed economic data in top importer China. Brent crude fell 15 cents to $86.25 a barrel at 0515 GMT, while U.S. West Texas Intermediate crude futures were down 13 cents at $82.69 a barrel. Market sentiment was also lifted by Thursday's U.S. consumer prices data for July, which fuelled speculation the Federal Reserve is nearing the end of its aggressive rate hike cycle. Data this week also showed China's consumer prices fell into deflation and factory gate prices extended declines in July, raising concerns about fuel demand in the world's second-largest economy.

Persons: Dado, Brent, Tina Teng, Teng, Baden Moore, Moore, Stephanie Kelly, Andrew Hayley, Shri Navaratnam, Simon Cameron Organizations: REUTERS, China, U.S, West Texas, CMC Markets, The, of Petroleum Exporting, Thursday's U.S, Federal Reserve, National Australia Bank, bbl, Thomson Locations: China, BEIJING, OPEC, Auckland, June's, Saudi Arabia, Russia, Ukraine, Baden, 2H23, New York, Beijing

A 3D-printed oil pump jack is seen in front of displayed OPEC logo in this illustration picture, April 14, 2020. REUTERS/Dado Ruvic/File PhotoSummary OPEC flags healthy oil market fundamentals in second halfUS consumer prices rise moderately in JulyChina tips into deflation as efforts to stoke recovery falterBEIJING, Aug 11 (Reuters) - Oil prices were largely unchanged in Asian morning trade as investors weighed optimistic demand forecasts from the OPEC producer group against mixed economic data in top importer China. In 2024, "solid" economic growth amid continued improvements in China is expected to boost oil consumption, it added. Market sentiment was also lifted by Thursday's U.S. consumer prices data for July, which fuelled speculation the Federal Reserve is nearing the end of its aggressive rate hike cycle. However, Teng also noted that "China’s sluggish economic data and the retreat on Wall Street weighs on risk sentiment, and a strengthened USD also pressured commodity prices".

Persons: Dado, Brent, Tina Teng, Teng, Baden Moore, Moore, Stephanie Kelly, Andrew Hayley, Shri Navaratnam, Simon Cameron Organizations: REUTERS, China, U.S, West Texas, CMC Markets, The, of, Petroleum, Thursday's U.S, Federal Reserve, National Australia Bank, bbl, Thomson Locations: China, BEIJING, OPEC, Auckland, June's, Saudi Arabia, Russia, Ukraine, Baden, 2H23, New York, Beijing

Summary OPEC flags healthy oil market fundamentals in second halfUS consumer prices rise moderately in JulyChina tips into deflation as efforts to stoke recovery falterAug 11 (Reuters) - Oil prices edged higher on Friday on optimism from the OPEC producer group that oil demand will be robust in 2024 as it also nudged up its expectations for global economic growth. Brent crude rose 7 cents to settle at $86.47 a barrel at 0017 GMT, while U.S. West Texas Intermediate crude futures gained 12 cents at $82.94 a barrel. The Organization of the Petroleum Exporting Countries said on Thursday it expects world oil demand to rise by 2.25 million barrels per day (bpd) in 2024, compared with growth of 2.44 million bpd in 2023. In 2024, "solid" economic growth amid continued improvements in China is expected to boost oil consumption, it added. Also lifting market sentiment, Thursday's U.S. consumer prices data for July fuelled speculation the Federal Reserve is nearing the end of its aggressive rate hike cycle.

Persons: Brent, Stephanie Kelly, Shri Navaratnam Organizations: U.S, West Texas, of, Petroleum, Federal Reserve, Thomson Locations: China, OPEC, Saudi Arabia, Russia, Ukraine, U.S

Both benchmarks have been on a sustained rally since June, with West Texas Intermediate crude (WTI) trading on Thursday at its highest this year and Brent hitting its highest price since January. Brent crude fell $1.15, or 1.3%, to settle at $86.40 a barrel while WTI settled down $1.58, or 1.9%, at $82.82. Oil prices have been boosted in recent days by extensions to output cuts by Saudi Arabia and Russia, alongside supply fears driven by the potential for conflict between Russia and Ukraine in the Black Sea region to threaten Russian oil shipments. The U.S. is also prohibiting some investment in China in sensitive technologies like computer chips and requires government notification in other tech sectors. Thursday's U.S. consumer prices data for July fuelled speculation the Federal Reserve is nearing the end of its aggressive rate hike cycle.

Persons: Johan Sverdrup, Carina Johansen, NTB, Brent, WTI, John Kilduff, John Ritterbusch, Natalie Grover, Muyu Xu, Mark Potter, Elaine Hardcastle, Andy Sullivan Organizations: West Texas, Federal Reserve, Ritterbusch, Associates, Thomson Locations: North, Saudi, Russian, Saudi Arabia, Russia, Ukraine, China, U.S, New York, Gulf of Mexico, Gulf, Mexico, Galena , Illinois, London, Singapore

☆ Oil steadies as U.S. rate hike fears subside
▼ + stars: | 2023-08-10 | by ( Natalie Grover | ) www.reuters.com time to read: +2 min

Brent crude was down 23 cents to $87.32 a barrel at 1251 GMT, while West Texas Intermediate crude (WTI) was down 37 cents at $84.03. Oil prices have been boosted in recent days by extensions to output cuts by Saudi Arabia and Russia, alongside supply fears driven by the potential for conflict between Russia and Ukraine in the Black Sea region to threaten Russian oil shipments. On Thursday, OPEC said in its monthly report it expected a healthy oil market for the rest of the year, and stuck by its forecast for robust oil demand in 2024, as the outlook for world economic growth slightly improves. "The poor state of China’s manufacturing, its property sector and some stubborn world inflation stand out as issues that the oil fraternity chooses to ignore at present." Thursday's U.S. consumer prices data for July fuelled speculation the Federal Reserve is nearing the end of its aggressive rate hike cycle.

Persons: Johan Sverdrup, Carina Johansen, NTB, Brent, WTI, John Evans, Natalie Grover, Muyu Xu, Laura Sanicola, David Goodman, Mark Potter Organizations: West Texas, Federal Reserve, Thomson Locations: North, Saudi, Russian, Saudi Arabia, Russia, Ukraine, China, London, Singapore, Washington

☆ European stocks outperform as Italy soothes bank tax nerves
▼ + stars: | 2023-08-09 | by ( Naomi Rovnick | ) www.reuters.com time to read: +4 min

[1/2] Signage for the London Stock Exchange Group is seen outside of offices in Canary Wharf in London, Britain, August 3, 2023. MSCI's broad index of global shares (.MIWD00000PUS) was 0.2% higher in European afternoon trade. Europe's regional Stoxx 600 (.STOXX) share index rose 0.9%, with bank stocks (.SX7P) around 1.6% higher. Italy's FTSE MIB share index gained 1.8%. "The burden-sharing of the costs and benefits from higher rates has a habit of becoming a political issue," Deutsche Bank strategist Jim Reid said.

Persons: Toby Melville, Jim Reid, China's, Naomi Rovnick, Stella Qiu, Sydney, Ellen Zhang, Christina Fincher, David Evans Organizations: London Stock Exchange, REUTERS, China CPI, Wall Street, Deutsche Bank, Federal Reserve, Nasdaq, Moody's, U.S . National Federation of Independent, Wednesday, U.S . Treasury, BCA, Reserve, Brent, U.S . West Texas, Thomson Locations: Canary Wharf, London, Britain, China, Italy, Thursday's U.S, U.S, Saudi Arabia, Beijing

[1/2] An aerial view shows cars for export at a port in Yantai, Shandong province, China May 3, 2023. China Daily via REUTERS/File PhotoJune 30 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. Goldman's emerging markets financial conditions index is the lowest in 16 months, which stands in contrast to developed economies where rates, bond yields borrowing costs of all stripes are rising sharply. The U.S. two-year yield jumped 15 basis points on Thursday, its biggest rise in a month, and traders are now pricing in at least one more quarter point rate hike this year. Here are key developments that could provide more direction to markets on Friday:- China PMIs (June)- Japan - Tokyo inflation (June)- U.S. PCE inflation (May)By Jamie McGeever;Our Standards: The Thomson Reuters Trust Principles.

Persons: Jamie McGeever, Goldman Sachs, Jerome Powell, China PMIs Organizations: REUTERS, Asia's, Bank of Japan, U.S, PCE, Thomson, Reuters Locations: Yantai, Shandong province, China, Japan, Tokyo, South Korea, U.S

☆ Oil prices rise as Congress approves US debt ceiling bill
▼ + stars: | 2023-06-02 | by ( Andrew Hayley | ) www.reuters.com time to read: +3 min

REUTERS/Brendan McDermidBEIJING, June 2 (Reuters) - Oil prices rose on Friday amid bullish sentiment following the passage of a U.S. debt ceiling bill in Washington, while markets weighed the likelihood of price-supportive OPEC+ production cuts over the weekend. Further reductions in OPEC+ output following their surprise cut of 1.16 million barrels per day in April would be bullish for crude prices. Other market observers have pointed to weak manufacturing data out of China and the U.S. as making OPEC+ cuts more likely. "Oil prices are stabilizing after a round of disappointing global manufacturing data supported the case for OPEC+ to deliver another production cut," said Edward Moya, a senior market analyst at OANDA. However, traders are "thinking that Russia might not necessarily stick to a hard stance on output cuts, especially since they are struggling to commit to their quotes," Moya added.

Persons: Brendan McDermid, Goldman Sachs, Edward Moya, Thursday's, Moya, Andrew Hayley, Jamie Freed, Kim Coghill Organizations: REUTERS, Brent, U.S, West Texas, Federal Reserve, Thursday's, Energy Information Administration, Organization of, Petroleum, Reuters, HSBC, OANDA, U.S ., Institute for Supply Management, PMI, P Global, Thomson Locations: New York Harbor, of, New York City, U.S, Brendan McDermid BEIJING, Washington, Russia, China, P Global China

☆ European stocks set for higher open as markets digest latest U.S. inflation data
▼ + stars: | 2023-05-11 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +1 min

European markets are heading for a higher open as international investors continue to digest the latest U.S. inflation figures. Regional markets were flat Wednesday afternoon after U.S. data showed inflation rose 4.9% in April from a year ago, which was less than expected. Analysts polled by Dow Jones expected a 0.4% month-over-month increase in inflation and a 5% rise from a year ago. Analysts expect the central bank to hike borrowing costs for the 12th consecutive meeting, with analysts widely expecting a 25 basis point rate hike to 4.5% in May. Asia-Pacific markets traded mixed overnight, while U.S. stock futures remained relatively flat on Wednesday night as investors look toward Thursday's U.S. producer price index report.

☆ Morning Bid: April boomlet mocks recession script
▼ + stars: | 2023-04-21 | by ( ) www.reuters.com time to read: +4 min

A look at the day ahead in U.S. and global markets from Mike DolanThe signal is still lost in an awful lot of noise. With next week's Big Tech earnings reports hoving into view, the overall U.S. corporate healthcheck remains pretty mixed. Perhaps unsurprisingly, the overall global stock market direction remains equivocal. Although Asia bourses had initially followed Wall St's Thursday swoon, European indexes and S&P500 futures were little changed on Friday. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Dollar dips against most currencies ahead of US nonfarm payrolls
▼ + stars: | 2023-04-06 | by ( ) www.cnbc.com time to read: +3 min

The closely watched U.S. non-farm payrolls report on Friday, when many markets around the world are closed, will follow disappointing manufacturing and services sector data from the Institute for Supply Management (ISM) and private employment figures on Wednesday. In afternoon trading, the U.S. dollar index, which hit a two-month low this week, thanks in part to a drop in Treasury yields, was down 0.1% at 101.81. Initial claims for state unemployment benefits dropped 18,000 to a seasonally adjusted 228,000 for the week ended April 1. Economists polled by Reuters expect non-farm payrolls to have grown by 239,000 in March, following February's 311,000 gain. The non-farm payrolls number has been far more prone to delivering upside surprises than misses in the last year or two.

☆ Morning Bid: Shock and awe - or mayday?
▼ + stars: | 2023-03-17 | by ( ) www.reuters.com time to read: +4 min

A look at the day ahead in U.S. and global markets from Mike DolanMarkets are struggling with whether to be relieved by the sheer scale of Thursday's U.S. bank rescue or be terrified by it. But there was little confidence the rising financial stress would dissipate quickly from here. The discount window jump crashed through a prior record of $112 billion during the banking collapse of 2008. What's more, 75 basis points of Fed rate cuts are still priced between a peak of 5% in May to yearend. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Morning Bid: Jumpy around jobs
▼ + stars: | 2023-03-10 | by ( ) www.reuters.com time to read: +2 min

A look at the day ahead in European and global markets from Vidya RanganathanFed Chairman Jerome Powell has made sure there is heightened focus on today's U.S. payrolls data. In his speech to Congress, Powell curiously mentioned this data point as one among a couple of indicators framing the Fed's thinking around how far and fast interest rates need to rise. The nail-biting around payrolls has meant investors barely reacted to other unsurprising but orchestrated developments in Asia. Haruhiko Kuroda concluded his last policy meeting as Bank of Japan governor, leaving Japan's ultra-low interest rates and controversial bond yield control policy an issue for successor Kazuo Ueda to tackle. Reuters GraphicsKey developments that could influence markets on Friday:U.S. February payrollsU.K. January industrial productionReporting by Vidya Ranganathan; Editing by Christopher CushingOur Standards: The Thomson Reuters Trust Principles.

☆ Short-dated options trade behind Thursday's U.S. stock market choppiness -Nomura's McElligott
▼ + stars: | 2023-02-23 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +1 min

Some 26,000 Feb 23 put options on S&P 500 e-minis futures with a strike price corresponding to the 4,000 level were bought early in Thursday’s session, McElligott said in a note. In addition, as the market declines the options dealers have to sell increasing amounts of stock futures to remain hedged. Those trades generated some $2 billion in selling pressure and likely contributed to the index’s intraday reversal, McElligot said. Selling pressure could rise to as much as $5 billion if market declines accelerate, he added. Trading in short-dated options contracts, or 0DTE- zero days to expiry contracts - have garnered attention on Wall Street in recent months, drawing record volumes and boosting worries about their role in aggravating intraday stock price swings.

WASHINGTON, Jan 26 (Reuters) - The United States on Thursday stepped up sanctions against the Wagner Group, labeling the Russian mercenary company fighting in Ukraine as a transnational criminal organization responsible for widespread human rights abuses. The U.S. Treasury Department, as part of action targeting dozens of people and entities in an effort to degrade Russia's ability to wage the war, said it designated Wagner Group as a "significant transnational criminal organization" on Thursday. It had previously designated Wagner under its Russia and Ukraine sanctions programs. "These images were gathered in order to enable Wagner combat operations in Ukraine," Treasury said. He said the United States assesses Wagner has about 50,000 personnel deployed to Ukraine, including 40,000 convicts recruited from Russian prisons.

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