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[1/3] Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., November 17, 2023. The MSCI World Equity Index (.MIWD00000PUS) gained 0.38% by 10:37 a.m. EST (1537 GMT) and Europe's benchmark STOXX index (.STOXX) rose 0.08%. The tech-heavy index (.IXIC) gained 0.44% to 14,187.16, as the Dow Jones (.DJI) rose 0.25% to 35,035.33 and the S&P 500 index (.SPX) gained 0.27% to 4,526.14. The dollar index fell to 103.46, its weakest level since the start of September, as investors appeared to solidify bets that the Fed could start cutting rates next year. "Dovish minutes could trigger some downside risk for the dollar," Ricardo Evangelista, senior analyst at ActivTrades, said.

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

☆ Dollar beaten to over two-month low as Fed cut bets take charge
▼ + stars: | 2023-11-20 | by ( Rae Wee | ) www.reuters.com time to read: +4 min

U.S. Dollar and Euro banknotes are seen in this illustration taken July 17, 2022. Against the weaker greenback, the euro hit its highest since August at $1.09365, while the yen firmed at a one-month high of 148.68 per dollar. The Japanese yen remained on the stronger side of 150 per dollar and was last 0.3% higher at 149.17. The onshore yuan rose 0.5% to an over three-month high of 7.1700 per dollar, while the offshore yuan similarly got a boost and jumped roughly 0.6% to an over three-month top of 7.1703 per dollar. The Aussie was last 0.5% higher at $0.6546, having struck a three-month high of $0.6563 earlier in the session, while the kiwi gained 0.54% to $0.6025.

Persons: Dado Ruvic, Carol Kong, Vishnu Varathan, CBA's, Rae Wee, Sam Holmes Organizations: REUTERS, Rights, Federal Reserve, New Zealand, Fed, Commonwealth Bank of Australia, Treasury, ., Mizuho Bank, Thomson Locations: Rights SINGAPORE, Asia, China

☆ Dollar stumbles to over two-month low as markets eye Fed cuts
▼ + stars: | 2023-11-20 | by ( Rae Wee | ) www.reuters.com time to read: +4 min

The yuan struck three-month highs in both the onshore and offshore markets, propped up by China's central bank, while the Australian dollar similarly scaled a three-month top against the falling greenback. "If we do see risk appetite improve again, then the dollar can definitely weaken further." Against the weaker dollar, the euro rose to an over two-month high of $1.0924, ahead of flash PMI readings in the euro zone due later this week. The risk-sensitive Australian dollar edged roughly 0.5% higher to $0.6546, its strongest level since August, while the New Zealand dollar rose 0.52% to $0.60235. The onshore yuan rose 0.5% to an over three-month high of 7.1753 per dollar, while the offshore yuan similarly got a boost and jumped roughly 0.6% to an over three-month top of 7.1745 per dollar.

Persons: Dado Ruvic, Carol Kong, Sterling, Vishnu Varathan, CBA's, Rae Wee, Sam Holmes Organizations: REUTERS, Rights, Federal Reserve, Fed, Commonwealth Bank of Australia, Treasury, ., Mizuho Bank, New Zealand, Thomson Locations: Rights SINGAPORE, Asia, China

☆ UK's next government will find tax rises hard to avoid
▼ + stars: | 2023-11-20 | by ( David Milliken | ) www.reuters.com time to read: +7 min

But tax rises will be very hard to avoid for whichever party forms the next government, says James Smith, a former Bank of England economist who is research director at the Resolution Foundation, which focuses on issues affecting low and middle earners. For earlier governments, the main way to increase tax levels has been to raise the rate of national insurance - a payroll tax paid by employers and employees - and, in the Conservatives' case, higher value-added tax. Annual GDP growth averaged 2.0% from 2010-2019, compared with 3.0% from 1997-2007. Asked on Sunday about widespread reports of looming tax cuts, Hunt told Sky News: "Everything is on the table ... Higher-than-expected inflation has boosted tax revenue and overall GDP in cash terms, giving more leeway against fiscal targets as most public services' spending budgets are fixed.

Persons: Susannah Ireland, Jeremy Hunt, Rishi Sunak's, James Smith, Smith, Britain's, It's, Carl Emmerson, Hunt, Foundation's Smith, David Milliken, Mike Harrison Organizations: REUTERS, Labour Party, Bank of England, Organisation for Economic Co, Development, Britain, Conservatives, Fiscal Studies, Foundation, Reuters, Monetary Fund, Institute for Government, Sky News, British, Reuters Graphics, Thomson Locations: City, London, Britain, Ukraine

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

☆ Fewer shoppers in Burberry stores complicates design overhaul
▼ + stars: | 2023-11-17 | by ( Mimosa Spencer | ) www.reuters.com time to read: +5 min

With fewer shoppers heading to Burberry stores, clinching a sale will be key. The label has filled its stores with new styles across a wider price range, including a renewed emphasis on its staple outerwear. At Burberry he has applied colourful dandelion prints to garments and rolled out advertising campaigns with fuzzy ducklings. "We like what Burberry is doing with product and range architecture, however, the timing is not ideal," said analysts at RBC. Burberry Chief Financial Officer Kate Ferry said the company was "absolutely committed to protecting all of the consumer-facing areas".

Persons: Daniel Lee's, Jonathan Akeroyd, Akeroyd, Riccardo Tisci, Lee, Tisci, Marco Gobbetti, Kering, LVMH, Louis Vuitton's womenswear, Nicolas Ghesquiere, Kate Ferry, Mimosa Spencer, Paul Sandle, Kirsten Donovan Organizations: Burberry, Shoppers, JPMorgan, Bond, Bottega, RBC, Gucci, Citi, Thomson Locations: United States, Europe, China, Los Angeles, Dallas, Houston, Omotesando, Tokyo, London

☆ Jim Chanos, the short seller who called Enron's fall, is converting hedge fund to a family office
▼ + stars: | 2023-11-17 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +1 min

Renown short seller Jim Chanos will be converting his hedge fund Chanos & Co., to a family office and advisory business, CNBC has learned. Chanos is moving to the family office model as the stock market has rallied in 2023. As recently as January of this year, he also had short bets on Tesla, pointing to rising competition in the electric vehicle market. You have [Chinese automaker] BYD and others just taking massive market share," Chanos said. Still, Tesla shares have rallied 90% this year as investors crowded into the so-called Magnificent 7 tech stocks.

Persons: Jim Chanos, Chanos, CNBC's Scott Wapner, Tesla Organizations: Renown, CNBC, Enron, Chanos, Wall Street Locations: China, U.S

☆ The Fed is probably done hiking rates. Cuts are still far off
▼ + stars: | 2023-11-16 | by ( Krystal Hur | ) edition.cnn.com time to read: +7 min

New York CNN —The Federal Reserve likely won’t raise interest rates again during its current tightening cycle, thanks to a cooldown in inflation. Interest rates are at a 22-year high after the Fed last March began its punishing pace of hikes in a bid to tame wayward inflation. Traders are now virtually certain that the Fed will hold rates steady at its December policy meeting and won’t hike again this cycle, according to the CME FedWatch Tool. Of course, one month’s data doth not a trend make. Traders are anticipating rate cuts won’t start before next March, and see May as more likely, according to the CME FedWatch Tool.

Persons: ”, Jeffrey Roach, Price, Sharp, Jerome Powell, Yung, Yu Ma, Joseph Brusuelas, Sephora, Parija Kavilanz, Read, Rishi Sunak, Hanna Ziady, “, ” Sunak, ” Read Organizations: CNN Business, Bell, New York CNN, Federal Reserve, Fed, Dow Jones, Nasdaq, “, LPL, Bureau of Labor Statistics, CPI, Research, BMO Wealth Management, Traders, Investors, RSM US, CNN, National Statistics Locations: New York

☆ Fitch says US regional bank challenges to persist in 2024
▼ + stars: | 2023-11-15 | by ( ) www.reuters.com time to read: +2 min

A street sign for Wall Street is seen in the financial district in New York, U.S., November 8, 2021. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsNov 15 (Reuters) - Rating agency Fitch said on Wednesday that U.S. regional banks will face continued challenges in 2024, with those lacking scale or focused on commercial loan growth disproportionately pressured. Fitch said that a delay in meaningful loosening of monetary policy would likely translate into "sustained competition for deposits" and "stubbornly weak loan growth." Large regional banks focused on commercial loan growth saw the weakest credit demand, which in some cases reached double digit declines on an annualized basis, Fitch said. In third quarter earnings, a string of regional banks reported pressure on net interest income (NII), the difference between what banks earn from lending and pay out on deposits, which hit some of their shares.

Persons: Brendan McDermid, Fitch, Bill Gross, Pritam Biswas, Megan Davies, Shounak Dasgupta, Jonathan Oatis, Cynthia Osterman Organizations: Wall, REUTERS, Valley Bank, Federal Reserve, Thomson Locations: New York, U.S, SVB, Bengaluru

☆ US retail sales fell in October for the first time in seven months
▼ + stars: | 2023-11-15 | by ( Bryan Mena | ) edition.cnn.com time to read: +4 min

Washington, DC CNN —Americans cut their retail spending in October for the first time since March, with interest rates at a 22-year high. Retail sales, which are adjusted for seasonality but not inflation, fell 0.1% in October from the prior month, the Commerce Department reported Wednesday. October’s decline in retail spending is potentially an early sign of a slowing economy as US consumers get squeezed by higher borrowing costs and they continue to rack up credit card debt. Car sales fell 1.1% in October from September, while furniture sales declined 2% during the same period. Wednesday’s retail sales report bodes well for the Fed, since it shows spending isn’t reaccelerating or remaining stubbornly strong.

Persons: Jerome Powell, ”, Kathy Bostjancic, Austan Goolsbee, market’s, ” Goolsbee Organizations: DC CNN, Commerce Department, Federal, Nationwide, Reserve, of Labor Statistics, Chicago Fed, Detroit Economic Locations: Washington

☆ ECB to hold rates through mid-2024 despite stalling economy - Reuters poll
▼ + stars: | 2023-11-14 | by ( Prerana Bhat | ) www.reuters.com time to read: +3 min

FILE PHOTO: A view shows the logo of the European Central Bank (ECB) outside its headquarters in Frankfurt, Germany March 16, 2023. The remaining 45% saw a cut sometime before the ECB Governing Council meets in July. The results are similar to a survey last month where 58% expected no cut before the July meeting. The ECB, which began raising rates several months later than the Fed, could weaken the euro and introduce unwanted imported inflation if it moved before the Fed. The jobless rate was expected to rise only slightly to 6.7% from the current 6.5% by end-2024, the poll showed.

Persons: Heiko Becker, Christine Lagarde, ”, Peter Vanden Houte Organizations: European Central Bank, Reuters, REUTERS, ECB, ING, U.S . Federal Locations: BENGALURU, Frankfurt, Germany

A banknote of Japanese yen is seen in this illustration picture taken June 15, 2022. REUTERS/Florence Lo/Illustration Acquire Licensing RightsNov 14 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. The policy pressures facing Japanese authorities are intense, and the potential risks to financial markets if policymakers misstep are growing. After battling against deflation for decades, the Bank of Japan is moving away from ultra-loose policy. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Florence Lo, Jamie McGeever, Xi Jinping's, Joe Biden, Shunichi Suzuki, Goldman Sachs, Deutsche Bank's George Saravelos, Xi Jinping, Fed's Jefferson, Barr, Mester, Josie Kao Organizations: REUTERS, Economic Cooperation, U.S, Japanese Finance, Bank of, Deutsche Bank's, Mitsubishi UFJ, Sumitomo Mitsui Financial Group, Thomson, Reuters Locations: Tokyo, San Francisco, Asia, Bank of Japan, Japan, India

☆ ‘The Marvels’ Disappoints at Box Office, Showcasing Disney’s Studio Challenge
▼ + stars: | 2023-11-12 | by ( Robbie Whelan | ) www.wsj.com time to read: 1 min

‘The Marvels’ features an all-female trio of stars, including Teyonah Parris as Captain Monica Rambeau. Photo: Laura Radford/Disney/Marvel Studios/Associated Press“The Marvels,” Disney ’s latest superhero feature, landed with a thud at the box office only days after Chief Executive Bob Iger called for an overhaul of the entertainment company’s studio business. A sequel to 2019’s hit “Captain Marvel” from Disney’s Marvel Studios, the new movie features an all-female trio of stars in Brie Larson, Teyonah Parris and Iman Vellani. It sold $47 million in tickets in North America over its opening weekend, making it the weakest debut performance of any movie in the so-called Marvel Cinematic Universe.

Persons: Teyonah Parris, Monica Rambeau ., Laura Radford, Bob Iger, Marvel ”, Brie Larson, Iman Vellani Organizations: Disney, Marvel Studios, Associated Press, Disney’s Marvel Studios Locations: North America

Bets on oil prices moving up from here are at their highest level since Russia's 2022 invasion of Ukraine, CME options market volatility data shows. Average daily volumes in energy options of the CME exchange overall are the highest since an all-time record in 2018. "The aftermath of the attacks and rising Middle East tensions did not impact oil prices as many investors expected, including ourselves," Unigestion multi-asset portfolio manager Sandrine Perret said. Reuters Graphics3/ DEFENCE STOCKSA gauge of defence stocks compiled by index provider MarketVector (.MVDEF) is 8% higher in the four weeks since the conflict began. It's also near eight-year highs versus the euro and therefore another asset class attracting questions about how it would perform if Middle East tensions are resolved.

Persons: Abdel Hadi Ramahi, Israel, Sandrine Perret, Derek Sammann, Gold, Jeff, Mikhail Zverev, Ron Temple, It's, Francesca Fornasari, Fornasari, Elisa Belgacem, Brent, Naomi Rovnick, Marc Jones, Dhara Ranasinghe, David Evans Organizations: United Arab Emirates, REUTERS, U.S White, Aegon, Reuters, Global, Defence, Lazard Asset Management, Swiss, Insight Investment, Generali Investments, Thomson Locations: Dubai, United Arab, Hamas, Israel, Gaza, Ukraine, Jordan, Egypt, China, Taiwan, Europe

REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsNov 10 (Reuters) - A hawkish lean from Federal Reserve Chair Jerome Powell chilled a recent rebound in stocks and bonds, with some investors suggesting the central bank was pushing back against loosening financial conditions. Some investors said Powell may have been leaning against a recent loosening of financial conditions that has come as yields have tumbled in recent weeks. Evidence of the dynamic between yields and financial conditions - factors that reflect the availability of funding in an economy - was on display in last week's 0.5% decline in the Goldman Sachs Financial Conditions Index, its sixth-biggest weekly drop since 1990. "If their concept is to have tighter financial conditions, they can’t really let those yields go down. "The rally of the markets both in equity and fixed income unwound the financial conditions tightening to a large degree," Desai said.

Persons: Jerome Powell, Brendan McDermid, Powell, Charlie Ripley, Powell …, Spencer Hakimian, Sonal Desai, Franklin, Desai, Vassili Serebriakov, Jeffrey Roach, Davide Barbuscia, David Randall, Saqib Iqbal Ahmed, Karen Brettell, Ira Iosebashvili, Sam Holmes Organizations: Economic, of New, REUTERS, International Monetary Fund, Treasury, Allianz Investment Management, Goldman, Tolou Capital Management, UBS, Investors, LPL Financial, Thomson Locations: of New York, New York City, U.S, New York

☆ UK economy flatlines as real estate activity drops
▼ + stars: | 2023-11-10 | by ( Anna Cooban | ) edition.cnn.com time to read: +2 min

London CNN —Britain’s economy stagnated in the third quarter — its weakest performance in a year — as activity in the real estate sector fell, weighed down by high interest rates. The real estate sector — which accounts for 13% of UK economic output and is particularly sensitive to higher borrowing costs — has taken a knock this year. The data — which measures how efficiently the economy is making use of labor and capital — showed that UK productivity had barely improved since 2007. “Britain is a stagnation nation that has struggled to secure sustained economic growth since the financial crisis,” James Smith, research director at the Resolution Foundation, a think tank, wrote in a note Friday. UK finance minister Jeremy Hunt is due to outline the government’s plans to boost economic growth later this month.

Persons: —, Paul Dales, ”, ” James Smith, Jeremy Hunt Organizations: London CNN, National Statistics, Bank of England, Capital Economics Locations: Halifax, Britain

Myanmar's junta leader General Min Aung Hlaing, who ousted the elected government in a coup on February 1, 2021, presides over an army parade on Armed Forces Day in Naypyitaw, Myanmar, March 27, 2021. "This is the weakest the Tatmadaw has been since the coup," the diplomat said, referring to Myanmar's military and asking not to be named. Maung Saungkha, leader of the Bamar People's Liberation Army, which contributed troops to the offensive, told Reuters the rebel alliance had spent more than a year preparing to take on the better-armed military. CHINA'S SHADOWSo far, rebel troops have faced unexpectedly weak opposition from the military, according to analysts and resistance leaders who spoke to local media. In a statement announcing the operation, the alliance said they intended to remove those enclaves, which they said were protected by the junta.

Persons: General Min Aung Hlaing, Stringer, Maung Saungkha, Nobel, Aung, Suu Kyi, Min Aung, Richard Horsey, Simon Cameron, Moore Organizations: Armed Forces, REUTERS, Junta, United States Institute of Peace, United Nations, Liberation Army, Reuters, National Unity Government, Arakan Army, Myanmar National Democratic Alliance Army, National Liberation Army, Crisis, Thomson Locations: Naypyitaw, Myanmar, BANGKOK, China, Myanmar's, Shan, Beijing, Suu, Sagaing, Arakan

☆ Winners and Losers From the Third Republican Debate - The New York Times
▼ + stars: | 2023-11-09 | by ( New York Times Opinion | ) www.nytimes.com time to read: +13 min

Welcome to Opinion’s commentary for the third Republican presidential debate, held in Miami on Wednesday night. The debate didn’t answer the question of whether she can really cut into DeSantis’s more conservative bloc of support. He deserves praise for his substantive, competent answers, but there’s not much of a market for that in the Republican primaries. In a debate dominated by a neoconservative revival, Ramaswamy — in both style and substance — was the only Trumpist on the stage. primary voters relished his attacks on the Republican National Committee and the debate moderators.

Persons: Jamelle, Nikki Haley, Haley, Gail Collins, Michelle Cottle, yapping, Ross Douthat I’m, Ramaswamy, David French Neoconservatism, Sarah Isgur, Sarah Longwell, DeSantis, Daniel McCarthy, Dick Cheney, —, Haley couldn’t, Ron DeSantis, Donald Trump, There’s, Ross Douthat, he’s, David French, He’s, Vivek Ramaswamy, Sarah Isgur DeSantis, Sarah Longwell DeSantis, Kim Reynolds, Jamelle Bouie Chris Christie, It’s, David French Christie, Trump, Christie isn’t, Sarah Isgur It’s, Christie —, Christie, there’s, Bouie, Tim Scott, Scott, I’ve, we’re, David French I’m, Reagan, platitudes, hasn’t, Sarah Longwell Tim Scott, Daniel McCarthy He’s, Ross, David French Ramaswamy, Ramaswamy —, cheekily Organizations: Trump Republican, Trump, Republican, Gov, Federal Reserve, White, Republican Party, MAGA, Republican National Committee, Nazi Locations: Miami, Iowa, New Hampshire, Ukraine, Iran, Israel, China, hawkish, Iraq, Afghanistan, Russia, Haley, Florida

Chartbook: Oil inventories and pricesCushing accounted for 55% of the nationwide depletion even though it held less than 10% of all crude inventories at the end of June. There were only small depletions in the rest of the Midwest (5 million barrels) and along the Gulf of Mexico (8 million barrels) and insignificant changes elsewhere. Since then, prices and spreads have collapsed, even though U.S. crude inventories at Cushing and elsewhere have barely changed so far. U.S. commercial crude inventories are about 9 million barrels (-2% or -0.22 standard deviations) below the prior ten-year seasonal average. Related columns:- U.S. oil futures surge as Cushing stocks evaporate(September 28, 2023)- Oil prices surge as stocks drain away from Cushing(September 15, 2023)- Depleting U.S. crude inventories lift oil prices(August 31.

Persons: Todd Korol, Brent, Brent's, CUSHING, NYMEX WTI, bullish, WTI, Cushing, John Kemp, David Evans Organizations: Gas, REUTERS, OPEC, Treasury, Manufacturers, Fund, Thomson, Reuters Locations: Granum , Alberta, Canada, Saudi Arabia, U.S, United States, Europe, China, Cushing, Oklahoma, of Mexico, NYMEX, OPEC

☆ Dollar steady against euro, yen on intervention watch as it hits one-week low
▼ + stars: | 2023-11-08 | by ( Karen Brettell | ) www.reuters.com time to read: +4 min

[1/2] U.S. Dollar and Euro banknotes are seen in this illustration taken July 17, 2022. Traders also remained on alert for potential intervention in the Japanese currency as it rose above the 151 level against the dollar, its weakest level in a week. “The dollar is vulnerable to weaker data going forward," said Shaun Osborne, chief foreign exchange strategist at Scotiabank in Toronto. "We’re transitioning to a sort of sell dollar rallies environment, after the buy dollar dips trend that we’ve seen really since the middle of the year." The dollar gained 0.41% to 151.03 Japanese yen , heading back towards levels that have investors on watch for currency intervention.

Persons: Dado Ruvic, Shaun Osborne, ”, Osborne, Jerome Powell, Powell, Nick Bennenbroek, Francesco Pesole, Karen Brettell, Gertrude Chavez, Dreyfuss, Samuel Indyk, Andrea Ricci Organizations: REUTERS, Federal Reserve, Scotiabank, U.S, ING, Reserve Bank of Australia, Thomson Locations: U.S, United States, Toronto

☆ Wall St little changed as investors eye yields, Fed comments
▼ + stars: | 2023-11-08 | by ( Chuck Mikolajczak | ) www.reuters.com time to read: +3 min

A trader works on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., October 27, 2023. U.S. Treasury yields have retreated sharply from their recent highs. That drop has helped fuel a rally in stocks, sending the S&P 500 (.SPX) and the Nasdaq (.IXIC) to their longest streak of gains in two years through Tuesday's close. Still, comments from several central bank officials over the past few days left the door open for additional hikes, causing some uncertainty among investors. The S&P 500 posted 15 new 52-week highs and five new lows while the Nasdaq recorded 52 new highs and 173 new lows.

Persons: Brendan McDermid, we're, Jason Ware, Jerome Powell, Chuck Mikolajczak, Richard Chang Organizations: New York Stock Exchange, REUTERS, Warner Bros, Dow, Nasdaq, Federal, Treasury, Fed, Albion Financial, Dow Jones, Warner Bros Discovery, Paramount Global, Tech, Thomson Locations: New York City, U.S, Tuesday's

☆ Crack in US dollar strength to spread as economy slows: Reuters poll
▼ + stars: | 2023-11-08 | by ( Hari Kishan | ) www.reuters.com time to read: +4 min

Suggesting the current dollar weakening trend has further to go, a near two-thirds majority of analysts, 28 of 45, who answered a separate question said the dollar is likely to trade lower than current levels against major currencies by year-end. The euro zone economy shrank 0.1% last quarter and is expected to flat-line in this one, barely skirting a recession. The Japanese yen, the worst-performing major currency for the year, is expected to remain under pressure in the near-term. The yen is expected to gain over 10% to change hands at 136/dollar in a year, the poll showed. Emerging market currencies are expected to take well into next year to post noticeable gains against a retreating U.S. dollar.

Persons: Florence Lo, we’ve, ”, Lee Hardman, “ It’s, we’re, Simon Harvey, Sterling Organizations: REUTERS, Federal Reserve, MUFG, Futures Trading, U.S, “ Locations: BENGALURU, U.S, Europe

☆ With the Strikes Over, the Mood in Hollywood Is Decidedly Mixed
▼ + stars: | 2023-11-08 | by ( Brooks Barnes | More About Brooks Barnes | ) www.nytimes.com time to read: +1 min

But Disney+, Paramount+, Peacock and others continue to lose money. Most analysts say that there are too many streaming services and that the weakest will ultimately close or merge with bigger competitors. The entertainment industry’s underlying cable television and box office problems also remain dire, in some cases growing worse during the five months it took to restore labor peace. In July, Disney announced that it was exploring a once-unthinkable sale of a stake in ESPN, the cable giant that has powered much of Disney’s growth over the past two decades. Paramount Global’s once-venerable cable portfolio, centered on Nickelodeon and MTV, has also been pummeled by cord cutting; Paramount shares have dropped nearly 50 percent since May.

Persons: ” Zack Stentz, “, “ Thor, ”, Max, Peacock, Paramount Global’s Organizations: Netflix, Hulu, Warner Bros, Discovery, Paramount, Comcast, Disney, ESPN, Nickelodeon, MTV

☆ S&P 500 returns tend to be measly in the 12 months leading up to a presidential election
▼ + stars: | 2023-11-07 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

The 2024 U.S. presidential election is now only 12 months away, with the primary season set to begin Jan. 15. While every election year brings with it a unique mix of political and macroeconomic conditions, Goldman Sachs' portfolio strategy research team says equity returns tend to be weaker than average in the 12 months leading up to a presidential election. Since 1984, the average S & P 500 return on election years is only 4%, according to Goldman. When looking more broadly from 1932, the S & P 500 has averaged returns of 7% during an election year and 9% outside of election years. "Post-election returns have typically been stronger when the election resulted in a divided government than a unified government, especially in the case of a wave election," Kostin said.

Persons: Goldman Sachs, Goldman, Louis, David Kostin, Kostin, — CNBC's Michael Bloom Organizations: Louis Federal, Tech

☆ Dollar rebounds, Fed officials take center stage
▼ + stars: | 2023-11-06 | by ( Karen Brettell | ) www.reuters.com time to read: +4 min

Comments from other Fed officials will also be evaluated for signs on whether they expect further rate increases. “Next week’s CPI print is going to be the best adjudicator we have on whether or not the Fed needs to hike rates again,” said Rai. The dollar index was last up 0.13% on the day at 105.19 after earlier dropping to 104.84, the weakest since Sept. 20. The yen hit 151.74 per dollar last week, edging close to October 2022 lows that spurred several rounds of dollar-selling intervention by the Bank of Japan. The Australian dollar fell 0.34% to $0.6491, after earlier reaching a three-month high of $.6523.

Persons: Dado Ruvic, Jerome Powell, ”, Bipan Rai, Lisa Cook, “, Rai, Dane Cekov, Cekov, Karen Brettell, Samuel Indyk, Jonathan Oatis, Aurora Ellis Organizations: REUTERS, U.S, Federal, CIBC Capital Markets, Market Committee, Fed, Bank of Japan, Reserve Bank of Australia, Thomson Locations: North American, Toronto, U.S, London

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