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☆ Morning Bid: Oil-fueled rally turns to Powell
▼ + stars: | 2023-11-08 | by ( ) www.reuters.com time to read: +5 min

[1/2] Federal Reserve Board Chairman Jerome Powell answers a question during a press conference following a closed two-day meeting of the Federal Open Market Committee on interest rate policy at the Federal Reserve in Washington, U.S., November 1, 2023. And that's hit home by dragging U.S. pump prices down to levels not seen since March. Overall, U.S. 10-year yields remained on the back foot at 4.57% first thing and ahead of Wednesday's auction. Although Asian and European stocks fell back a bit, Wall St stock futures were unchanged before the bell. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Jerome Powell, Kevin Lamarque, Mike Dolan, who's, Christine Lagarde, Andrew Bailey, Michelle Bowman, Austan Goolsbee, Christopher Waller, BoE, Ping, Donald Trump, White, Philip Jefferson, Michael Barr, Lisa Cook, John Williams, Joachim Nagel, Walt Disney, Ralph Lauren, Toby Chopra Organizations: Federal Reserve, Federal, Committee, REUTERS, Mike Dolan Wall, European Central Bank, Bank of England, Atlanta, Fed, Chicago Fed, St, Reuters, Ping An Insurance, HK, New York Fed, Warner Bros Discovery, MGM Resorts, Biogen, Energy, Treasury, Federal Reserve Bank of New, Thomson Locations: Washington , U.S, U.S, Gaza, Tokyo, Ohio, Kentucky, Brussels, Federal Reserve Bank of New York

☆ Mortgage rates plunge and demand finally inches back
▼ + stars: | 2023-11-08 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +1 min

Mortgage rates saw the biggest one-week drop in over a year last week, causing the first increase in mortgage demand in a month. Total mortgage application volume rose 2.5% last week, compared with the previous week, according to the Mortgage Bankers Association's seasonally adjusted index. Mortgage rates are pretty close to where they were at this time last year, so there is not a lot of incentive to refinance. Mortgage rates started the week slightly higher, but this week holds fewer economic events or reports that would influence rates. Last week's combination of the Federal Reserve's pause on interest rates and a lower-than-expected monthly employment report was the perfect storm for the dramatic move lower in rates.

Persons: Joel Kan Organizations: Mortgage, U.S

☆ China warns against maritime 'camp' confrontations but stops short of naming US
▼ + stars: | 2023-11-08 | by ( Ryan Woo | ) www.reuters.com time to read: +3 min

Chinese Foreign Minister Wang Yi speaks during the opening ceremony of the diplomatic symposium at the Diaoyutai State Guesthouse on October 24, 2023 in Beijing, China. The Philippines, Japan and the United States have complained about what they say is growing Chinese aggression in the South China Sea. Last month, China and the Philippines traded barbs over a collision in the South China Sea as Chinese vessels blocked the passage of Philippine ships. Beijing has been especially critical of the U.S. Indo-Pacific strategy, which identifies China as an aggressor in the region, including the South China Sea, undermining international maritime law including freedom of navigation. China will continue to fulfil its obligations under international maritime laws, including the United Nations Convention on the Law of the Sea (UNCLOS), Wang said, again without referring to Washington.

Persons: Wang Yi, Ken Ishii, Wang, Xi Jinping, Joe Biden, Ryan Woo, Gerry Doyle Organizations: Rights, Economic Cooperation, United Nations Convention, UNCLOS, Thomson Locations: Diaoyutai, Beijing, China, Rights BEIJING, United States, Philippines, Japan, South China, Philippine, Manila, Hainan, U.S, Asia, Washington

☆ Dollar bounces after sharp selloff, weak data hurts euro
▼ + stars: | 2023-11-07 | by ( Karen Brettell | ) www.reuters.com time to read: +4 min

U.S. one dollar banknotes are seen in front of displayed stock graph in this illustration taken, February 8, 2021. "If you look at the percentage of currencies that have been down versus the dollar over the last 26 weeks, it was approaching 100%, and data also showed very long dollar positioning ... Traders are now pricing in only a slim chance of a further interest rate increase by the Fed and see three 25-basis-point rate cuts by next November. The euro fell 0.20% to $1.0695 after data showed a larger-than-expected fall in German industrial production in September. The yen softened to 151.74 per dollar last week, edging closer to October 2022 lows that spurred several rounds of dollar-selling intervention.

Persons: Dado Ruvic, Marc Chandler, Jerome Powell, Chester Ntonifor, Chandler, Powell, Christopher Waller, Michelle Bowman, Neel Kashkari, Austan Goolsbee, Fiona Cincotta, Karen Brettell, Alun John, Ankur Banerjee, Paul Simao, Mark Heinrich Our Organizations: REUTERS, U.S ., Australian, greenback, Fed, Bannockburn Global, BCA Research, Traders, . Minneapolis, Chicago Fed, PMI, Index, Reserve Bank of Australia, Thomson Locations: Tokyo, U.S, Bannockburn, New York, London, Singapore

[1/2] FILE PHOTO: The London Stock Exchange Group offices are seen in the City of London, Britain, December 29, 2017. MSCI's gauge of global stock performance (.MIWD00000PUS) shed 0.05%, while the pan-European STOXX 600 index (.STOXX) lost 0.06%. Against a basket of currencies, the dollar index rose 0.332% to 105.61, with the euro down 0.31% to $1.0682. Treasury yields slid, having unwound some of their rally last week after the Fed left rates unchanged following a policy meeting. The two-year's yield, which reflects interest rate expectations, fell 1.3 basis points to 4.928%, while the 10-year slipped 7.5 basis points at 4.587%.

Persons: Toby Melville, Jerome Powell, Neel Kashkari, Austan Goolsbee, Rick Meckler, we've, Michael Hewson, Brent, Tom Wilson, Tom Westbrook, Ankur Banerjee, Lincoln, Kim Coghill, Christina Fincher, Jonathan Oatis Organizations: London Stock Exchange Group, City of, REUTERS, NEW, Federal Reserve, Minneapolis, Chicago, Cherry Lane Investments, Dow Jones, Nasdaq, Reserve Bank of Australia, Treasury, Fed, CMC, Thomson Locations: City, City of London, Britain, China, Saudi Arabia, Russia, Europe, U.S, New Vernon , New Jersey, Asia, Pacific, Japan, London, Singapore

☆ Dollar bounces after sharp selloff, euro dented by weak data
▼ + stars: | 2023-11-07 | by ( Karen Brettell | ) www.reuters.com time to read: +4 min

U.S. one dollar banknotes are seen in front of displayed stock graph in this illustration taken, February 8, 2021. The dollar index which tracks the U.S. unit against six main peers, was up 0.37% at 105.64. If that continues, he added, attention will turn to how long to keep interest rates at current levels. The euro fell 0.37% to $1.0677 after data showed a larger-than-expected fall in German industrial production in September. The yen softened to 151.74 per dollar last week, edging closer to October 2022 lows that spurred several rounds of dollar-selling intervention.

Persons: Dado Ruvic, Jerome Powell, Marc Chandler, Chester Ntonifor, Chandler, Powell, Neel Kashkari, Austan Goolsbee, Fiona Cincotta, Carol Kong, Karen Brettell, Alun John, Ankur Banerjee, Paul Simao Organizations: REUTERS, U.S ., Australian, Fed, Bannockburn Global, BCA Research, Traders, Minneapolis, . Chicago Fed, PMI, Index, Reserve Bank of Australia, Commonwealth Bank of Australia, Thomson Locations: U.S, Bannockburn, New York, Tokyo, London, Singapore

The MSCI world equity index (.MIWD00000PUS), which tracks shares in 47 countries, fell 0.4%. Earlier, MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) slipped 1.2%, snapping three straight days of gains. Hong Kong's Hang Seng (.HSI) fell 1.7%, while mainland China blue chips (.CSI300) fell 0.4%. The index fell 1.3% last week, its steepest decline since mid-July, part of the wider risk-on mood in markets. The euro slipped 0.4% to $1.067, down from an eight-week peak of $1.0756 hit on Monday.

Persons: Toby Melville, Michael Hewson, Nicholas Chia, HSI, Tom Wilson, Tom Westbrook, Ankur Banerjee, Lincoln, Kim Coghill, Christina Fincher Organizations: London Stock Exchange Group, City of, REUTERS, Nasdaq, CMC, Standard Chartered, Fed, Reserve Bank of Australia, Brent, Thomson Locations: City, City of London, Britain, U.S, Asia, Pacific, Japan, China, Saudi Arabia, Russia, London, Singapore

Tuesday data showing a larger-than-expected fall in German industrial production in September contributed to the euro's weakness, said Fiona Cincotta, senior financial market analyst at City Index. The euro, like most other currencies, gained sharply on the dollar last week as a series of data points - most notably U.S. data from Friday showing job growth slowed in October - sent the U.S. unit lower. The dollar fell 1.4% last week, its steepest decline since mid-July, a sharp reversal after a recent run higher. Federal Reserve Bank of Minneapolis President Neel Kashkari said on Monday the U.S. central bank likely has more work ahead to control inflation. The yen softened to 151.74 per dollar last week, edging closer to October 2022 lows that spurred several rounds of dollar-selling intervention.

Persons: Dado Ruvic, Fiona Cincotta, Chester Ntonifor, Neel Kashkari, Jerome Powell, Carol Kong, Kong, Ankur Banerjee, Alun John, Sam Holmes, Miral Fahmy, Edmund Klamann, Kim Coghill, Emelia Organizations: REUTERS, Rights, PMI, Federal, Treasury, BCA Research, Fed, Federal Reserve Bank of Minneapolis, U.S, Bank, Australian, Commonwealth Bank of, Aussie, Thomson Locations: Rights SINGAPORE, LONDON, U.S, Australia, Tokyo, Singapore, London

☆ Australia's central bank raises rates to 12-year high, tempers hawkish stance
▼ + stars: | 2023-11-07 | by ( Wayne Cole | ) www.reuters.com time to read: +3 min

As a result, the local dollar slipped 0.4% to $0.6460 and bond futures rallied as investors lengthened the odds on a further rise in December. "It was a dovish hike...it's not pointing to any immediate need for a follow-up," said Rob Thompson, rates strategist at RBC Capital Markets. "You'd think they'd have opened the door to a bit more than this, but they are just trying to do as little as possible. INFLATION PROVES STUBBORNThis was Bullock's first rate change since taking over as governor in September, and could go some way to burnish her inflation-fighting credentials. Reporting by Wayne Cole Editing by Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.

Persons: Michele Bullock, it's, Rob Thompson, Bullock, Wayne Cole, Shri Navaratnam Organizations: Reserve Bank of Australia, RBC Capital Markets, CPI, Australia, Thomson Locations: SYDNEY, United States, Canada, Europe

☆ Dollar steady as risk rally eases, RBA in focus
▼ + stars: | 2023-11-07 | by ( Ankur Banerjee | ) www.reuters.com time to read: +3 min

U.S. one dollar banknotes are seen in front of displayed stock graph in this illustration taken, February 8, 2021. The Australian dollar was 0.23% lower at $0.6474, but remained close to the three-month peak of $0.6523 touched on Monday. "I think the RBA will probably reiterate its tightening bias," said Carol Kong, a currency strategist at Commonwealth Bank of Australia. "But I think it's still too early to say the latest easing in the dollar will be sustained. The yen hit 151.74 per dollar last week, edging closer to October 2022 lows that spurred several rounds of dollar-selling intervention.

Persons: Dado Ruvic, Carol Kong, Neel Kashkari, Jerome Powell, Powell, CBA's, Sterling, Kazuo Ueda, Ankur Banerjee, Sam Holmes Organizations: REUTERS, Rights, Reserve Bank of Australia, Commonwealth Bank of Australia, New Zealand, Fed, Federal Reserve Bank of Minneapolis, U.S, Bank of Japan, Thomson Locations: Rights SINGAPORE, Tokyo, Singapore

☆ Asia stocks snap winning streak, Aussie slips
▼ + stars: | 2023-11-07 | by ( Tom Westbrook | ) www.reuters.com time to read: +3 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) fell 1.2% following a three-day rally that lifted the benchmark by nearly 6%. South Korean shares (.KS11) fell 3% as traders unwound some of Monday's surge on the reimposition of a short-selling ban. Treasuries were broadly steady in Asia, having unwound a little of last week's rally on Monday. Ten-year yields hovered at 4.92% - about 10 basis points above where they closed on Friday, but below where they were a week earlier. "It was a dovish hike...it's not pointing to any immediate need for a follow-up," said RBC Capital Markets rates strategist Rob Thompson on the phone from Sydney.

Persons: Kim Kyung, Nicholas Chia, it's, Rob Thompson, Alan Ruskin, George Saravelos, Gold, bitcoin, Ankur Banerjee, Lincoln Organizations: Tokyo Stock Exchange, REUTERS, Rights, Reserve Bank of Australia, South, Japan's Nikkei, Shanghai, Nasdaq, Standard Chartered, Fed, Capital Markets, U.S, Deutsche Bank, Brent, Thomson Locations: Tokyo, Japan, Rights SINGAPORE, Australia, Asia, Pacific, Sydney, Taiwan, East, Russia, Saudi Arabia, Singapore

☆ Gold slips as dollar firms, Powell speech eyed for cues on rates
▼ + stars: | 2023-11-07 | by ( ) www.cnbc.com time to read: +2 min

Gold bars of different sizes lie in a safe on a table at the precious metals dealer Pro Aurum. Gold prices fell to a near two-week low on Tuesday as the dollar firmed and safe-haven demand slowed, while investors awaited comments from Federal Reserve officials, including Chair Jerome Powell, for more clarity on the interest rate outlook. Spot gold fell 0.5% to $1,968.30 per ounce by 0717 GMT, its lowest since Oct. 25. The dollar rose 0.3% after hitting a six-week low in the previous session, making gold more expensive for other currency holders. SPDR Gold Trust , the world's largest gold-backed exchange-traded fund, said its holdings rose 0.50% to 867.57 tonnes on Monday.

Persons: Jerome Powell, it's, Kyle Rodda, Benjamin Netanyahu, Israel, Neel Kashkari, Powell, Rodda Organizations: Aurum, Federal Reserve, Capital.com, Fed Bank of Minneapolis, Investors, Trust Locations: Gaza

☆ Central banks look to have hit peak rates. Here's how markets think they'll come down
▼ + stars: | 2023-11-07 | by ( Elliot Smith | ) www.cnbc.com time to read: +6 min

The U.S. Federal Reserve, European Central Bank and the Bank of England dramatically hiked rates over the last 18 months in a bid to tame runaway inflation. Reid also highlighted that this is the seventh time this cycle that markets have notably reacted on dovish speculation. "Clearly rates aren't going to keep going up forever, but on the previous 6 occasions we saw hopes for near-term rate cuts dashed every time. In clear, waiting for inflation to reach 2% before cutting rates would be 'overkill,'" Moëc said. However, minutes from last week's meeting reiterated the Monetary Policy Committee's expectations that rates will need to stay higher for longer, with U.K. CPI holding steady at 6.7% in September.

Persons: Jerome Powell, Brendan McDermid, nonfarm payrolls, DBRS Morningstar, Jim Reid chalked, Reid, we've, Gilles Moëc, Moëc, Christine Lagarde, Yannis Stournaras Organizations: Federal Reserve, New York Stock Exchange, U.S . Federal Reserve, European Central Bank, Bank of, Fed, PCE, DBRS, Deutsche Bank, ECB, AXA, National Bank of Greece, of, Bank of England, CPI, BNP Locations: New York City, Bank of England, U.S, Europe

☆ Dollar steady as risk rally eases, Reserve Bank of Australia in focus
▼ + stars: | 2023-11-07 | by ( ) www.cnbc.com time to read: +3 min

A man walking past the Reserve Bank of Australia in the central business district of Sydney on June 7, 2022. The dollar was steady on Tuesday, holding overnight gains as investors took a breather from a risk rally, while the Australian currency drifted lower ahead of a central bank interest rates decision later in the day. All eyes in Asian hours will be on the Reserve Bank of Australia, which is widely expected to raise rates by 25 basis points, snapping four months of on hold policy decisions. Federal Reserve Bank of Minneapolis President Neel Kashkari said on Monday the U.S. central bank likely has more work ahead of it to control inflation. The yen hit 151.74 per dollar last week, edging closer to October 2022 lows that spurred several rounds of dollar-selling intervention.

Persons: Carol Kong, Neel Kashkari, Jerome Powell, Powell, CBA's, Sterling, Kazuo Ueda Organizations: Reserve Bank of Australia, Commonwealth Bank of Australia, New Zealand, Fed, Federal Reserve Bank of Minneapolis, U.S, Bank of Japan Locations: Sydney, Tokyo

The U.S. central bank could even be forced to raise rates to ensure the pace of inflation remains on a downward trajectory and does not bounce back, Goldberg said. Markets also imply about an 80% probability the European Central Bank (ECB) will cut rates by April, while the Bank of England (BoE) is seen easing in August. An outlier is Australia's central bank, which is considered likely to resume raising rates at a policy meeting on Tuesday as inflation there stays stubbornly high. The head of the central bank said on Monday it was closer to achieving its inflation target, but it was still not enough to end ultra-loose policy. The drop in the dollar and yields has helped underpin gold, as investors have cautiously turned back to riskier assets.

Persons: Brendan McDermid, Gennadiy Goldberg, Goldberg, Anthony Saglimbene, Saglimbene, We're, BoE, Jerome Powell, Herbert Lash, Wayne Cole, Alun John, Nick Macfie, Will Dunham, Mark Potter, Marguerita Choy Organizations: New York Stock Exchange, REUTERS, Wall, Federal Reserve, TD Securities, Dow Jones, Nasdaq, European Central Bank, Bank of England, ECB, The Bank of Japan, ., Germany's, Brent, U.S, West Texas, Thomson Locations: New York City, U.S, Europe, New York, France, Germany, Italy, Spain, Troy , Michigan, Asia, Pacific, Japan, Korea, Saudi Arabia, Russia

☆ 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

Hopes for lower borrowing costs overnight helped shares in Asia, which missed out on Friday's rally that was inspired by the U.S. jobs data. DOLLAR DROPSTwo-year Treasury yields , which reflect interest rate expectations, rose 5.9 bps to 4.891% after falling 18 bps last week. The recent retreat in Treasury yields pulled the rug out from under the dollar last week. The dollar index, a measure of the U.S. currency against six others, was steady at 105.07 after sliding 1.4% last week. U.S. crude rose 1.73% to $81.90 per barrel and Brent was at $86.07, up 1.39% on the day.

Persons: Issei Kato, Gennadiy Goldberg, Goldberg, BoE, Samy Chaar, Jerome Powell, Brent, Herbert Lash, Wayne Cole, Alun John, Nick Macfie, Will Dunham, Mark Potter Organizations: REUTERS, Wall, Federal Reserve, TD Securities, Dow Jones, Nasdaq, European Central Bank, Bank of England, Lombard, ECB, The Bank of Japan, ., Palestinian, Hamas, Thomson Locations: Tokyo, Japan, Europe, New York, U.S, Asia, Pacific, Korea, Saudi Arabia, Russia, East, Israel, Gaza

☆ Dollar dips on growing bets Fed rate hikes are over
▼ + stars: | 2023-11-06 | by ( Karen Brettell | ) www.reuters.com time to read: +3 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 down 0.03% on the day at 105.02 and got as low as 104.84, the weakest since Sept. 20. Cekov said the yen likely needs to be around the 155 per dollar area for Japanese authorities to consider intervention or to talk the currency up. 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.

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

☆ Barclays sees Fed raising rate in January instead of December
▼ + stars: | 2023-11-06 | by ( ) www.reuters.com time to read: +1 min

[1/2] An eagle tops the U.S. Federal Reserve building's facade in Washington, July 31, 2013. REUTERS/Jonathan Ernst/File Photo Acquire Licensing RightsNov 5 (Reuters) - Barclays said it now expects the U.S. Federal Reserve to deliver a 25 basis point interest rate increase in January instead of an earlier expectation for a December hike. The brokerage cited softer-than-expected October employment data and dovish Fed commentary for the forecast push to next year. The Labor Department's closely watched employment report on Friday showed that the unemployment rate rose to 3.9% last month, the highest level since January 2022, from 3.8% in September. Reporting by Roshan Abraham in Bengaluru; Editing by Subhranshu SahuOur Standards: The Thomson Reuters Trust Principles.

Persons: Jonathan Ernst, Roshan Abraham, Subhranshu Sahu Organizations: . Federal, REUTERS, Barclays, U.S . Federal Reserve, Labor, Thomson Locations: Washington, Bengaluru

☆ Asia shares extend rally on hopes of early rate cuts
▼ + stars: | 2023-11-06 | by ( Wayne Cole | ) www.reuters.com time to read: +4 min

"This year's better-than-expected U.S. supply-side performance raises hopes for a soft landing," said Bruce Kasman, head of economic research at JPMorgan. Futures markets swung to imply a 90% chance the Fed was done hiking, and an 86% chance the first policy easing would come as soon as June. Markets also imply around an 80% probability the European Central Bank will be cutting rates by April, while the Bank of England is seen easing in August. An odd man out is Australia's central bank, which is considered likely to resume hiking rates at a policy meeting on Tuesday as inflation stays stubbornly high. "We look for the Fed Funds rate to fall to 3-3.25%, the ECB depo rate to 3% and BoE Bank Rate to 4.25% by end-2024."

Persons: Issei Kato, Bruce Kasman, disinflation, Jerome Powell, BoE, Brent, Wayne Cole, Sam Holmes Organizations: REUTERS, Nikkei, SYDNEY, Federal Reserve, JPMorgan, Futures, European Central Bank, Bank of, ECB, The Bank of Japan, South, Nasdaq, Fed, NatWest Markets, Sunday, Palestinian, Thomson Locations: Tokyo, Japan, United States, Europe, U.S, Bank of England, Asia, Pacific, South Korea, Saudi Arabia, Russia, East, Israel, Gaza

The latest Commodity Futures Trading Commission (CFTC) figures show that speculators, especially leveraged funds, ramped up their short Treasuries positions in the week ending Oct. 31, most notably at the short end of the curve. That is significantly larger than the peak combined net short position from 2019 of just over 4 million contracts, boosted by fresh record short positions in the two- and five-year space. In October leveraged funds increased their net short position in two-year futures by 242,000 contracts to 1.6 million contracts, and by 193,000 contracts in five-year futures to 1.93 million. They only grew their net short position in 10-year futures by 10,000 contracts, however. But funds play Treasuries futures for other reasons, like relative value trades, and this year, the basis trade.

Persons: Brendan McDermid, Javier Corominas, Treasuries, Jerome Powell, Jamie McGeever, Miral Fahmy, Jonathan Oatis Organizations: New York Stock Exchange, REUTERS, Rights, Futures Trading Commission, Regulators, Reuters, Oxford Economics, Treasury, Citi's, Thomson Locations: New York City, U.S, Rights ORLANDO , Florida, Citi's U.S

☆ Wall St Week Ahead Stock investors see green light in falling Treasury yields
▼ + stars: | 2023-11-03 | by ( David Randall | ) www.reuters.com time to read: +4 min

The relationship between stocks and bonds has been a tight one in recent months, with equities falling as Treasury yields climbed to 16-year highs. Higher yields offer investment competition to stocks while also raising the cost of capital for companies and households. Meanwhile, the S&P 500 has surged nearly 6% from its October lows. Draho expects the S&P 500 to trade between 4,200 and 4,600 until investors determine whether the economy will be able to avoid a recession. The S&P 500 was recently up more than 1% on the day.

Persons: Brendan McDermid, Jason Draho, Draho, Ryan Detrick, Greg Wilensky, Janus Henderson, David Randall, Ira Iosebashvili, Louise Heavens Organizations: New York Stock Exchange, REUTERS, Federal Reserve, Treasury, UBS Global Wealth Management, National Association of Active Investment, CFRA Research, Carson Investment Research, Fed, Apple Inc, Janus, Janus Henderson Investors, Thomson Locations: New York City, U.S, Treasuries

☆ Europe stocks open higher, head for best week since March after central bank pauses
▼ + stars: | 2023-11-03 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

The Stoxx 600 opened 0.3% higher led by autos stocks, up 1.1%. The index gained 1.6% on Thursday, and is heading for its best week-on-week performance since the end of March, according to LSEG data. European stock markets opened higher on Friday, rounding off a weekly rally powered by a series of solid earnings and a perceived dovish tilt by central banks. The Bank of England held rates for a second consecutive meeting. Like Christine Lagarde, president of the European Central Bank — which last week also held rates steady — he said it was too early to talk about rate cuts and that risks to inflation remain.

Persons: BOE Governor Andrew Bailey, Christine Lagarde Organizations: Federal Reserve, Bank of, CNBC, European Central Bank Locations: U.S, Bank of England

☆ Oil prices steady, on track for second straight week of losses
▼ + stars: | 2023-11-03 | by ( ) www.cnbc.com time to read: +1 min

A view from the oil company Tatneft in Tatarstan, Russia on June 04, 2023. Oil prices were little changed on Friday, heading for their second straight week of losses as the U.S. central bank left the door open for possible future rate hikes and worries that the Middle East conflict would disrupt supply eased. Brent crude futures rose 6 cents to $86.91 a barrel by 0010 GMT, while U.S. West Texas Intermediate crude futures gained 12 cents, or 0.2%, to $82.58 a barrel. Brent was on track to fall about 4% in the week, while WTI looked set to close down 3.5%. Meanwhile, the U.S. Federal delivered a "dovish" pause to its rate hikes on Wednesday, while the BoE delivered a "hawkish" pause on Thursday.

Persons: Brent, WTI, BoE Organizations: Brent, U.S, West Texas, Palestinian, U.S . Federal Locations: Tatarstan, Russia, Tatneft, U.S, Gaza, Israel, Saudi Arabia

☆ Here are 4 big trades for the portfolio this week and 2 difficult rating changes
▼ + stars: | 2023-11-03 | by ( Matthew J. Belvedere | ) www.cnbc.com time to read: +5 min

Our trades and decisions on stock ratings were driven more by earnings, company-specific developments and portfolio management rather than any broad commentary on the market. The stock soared more than 5% on the news, adding to those gains throughout the rest of the week. Estee Lauder's new "Profit Recovery Plan" provided little comfort because it's not expected to kick in until the company's fiscal years 2025 and 2026. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: week's, Ford, Estee Lauder, Estee, it's, Veralto, Locker, Jim Cramer's, Jim Cramer, Jim, Spencer Platt Organizations: Dow Jones, Nasdaq, Federal Reserve, U.S . Labor Department, Ford, United Auto Workers, GE HealthCare Technologies, Oracle, DuPont de Nemours, DuPont, CNBC, Traders, New York Stock Exchange, Getty Locations: oversold, China, FL, New York City

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