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☆ Futures muted after Wall St rally, economic data on tap
▼ + stars: | 2022-12-22 | by ( ) www.reuters.com time to read: +2 min

SummarySummary Companies Futures down: Dow 0.10%, S&P 0.07%, Nasdaq 0.07%Dec 22 (Reuters) - U.S. stock futures were subdued on Thursday after Wall Street's main indexes staged a rally in the previous session, with investors awaiting jobs data to assess the strength of the labor market. It is expected to show gross domestic product increased at a 2.9% annualized rate, in line with the previous estimate. ET, Dow e-minis were down 32 points, or 0.1%, S&P 500 e-minis were down 2.75 points, or 0.07%, and Nasdaq 100 e-minis were down 7.75 points, or 0.07%. Micron Technology Inc (MU.O) slipped 3% in premarket trading after the chipmaker forecast a bigger-than-expected second-quarter loss. Reporting by Shubham Batra and Amruta Khandekar in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

☆ Wall Street eyes higher open on strong Nike earnings
▼ + stars: | 2022-12-21 | by ( Shubham Batra | ) www.reuters.com time to read: +3 min

SummarySummary Companies Nike jumps on strong second-quarter resultsFedEx soars on cost-cutting planConsumer confidence, home sales data due at 10 a.m. Wall Street's main indexes closed slightly higher on Tuesday, following early losses as Treasury yields jumped after the Bank of Japan's surprise monetary policy tweak. Fears of a recession following the U.S. central bank's prolonged interest rate hikes have weighed heavily on equities since its policy meeting last week, despite signs of cooling inflation. Other data expected through the week on core inflation and the labor market will likely determine the future course of interest rate hikes by the Fed. Market volumes are expected to decline this week before the Christmas and New Year holidays amid low participation.

☆ Futures rise as Nike posts strong quarter, consumer confidence data on tap
▼ + stars: | 2022-12-21 | by ( ) www.reuters.com time to read: +2 min

"We had some better news from the likes of Nike yesterday, which suggested that consumer sentiment and spending was holding up," said Stuart Cole, head macro economist at Equiti Capital. Other data expected through the week on core inflation and the labor market will likely determine the future course of interest rate hikes by the Fed. ET, Dow e-minis were up 233 points, or 0.7%, S&P 500 e-minis were up 20 points, or 0.52%, and Nasdaq 100 e-minis were up 47 points, or 0.42%. Market volumes are expected to decline this week before the Christmas and New Year holidays. Reporting by Shubham Batra and Amruta Khandekar in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

Wall Street's main indexes continued their losing streak for a fourth straight session on Monday as investors shied away from riskier bets, worried that the Federal Reserve's interest rate hikes could push the U.S. economy into recession. The Fed has managed to slow the economy down so it's likely that earnings estimates (for Q4) are going to come down. Treasuries fell following the BOJ's shock move, with the benchmark 10-year Treasury yield rising to a three-week high of 3.66%. Earlier, data showed U.S. single-family homebuilding tumbled in November as higher mortgage rates continued to depress housing market activity. A slew of other economic data due this week including consumer confidence and core inflation will provide more clues to investors on future interest rate hikes.

☆ Futures subdued after BOJ's policy surprise
▼ + stars: | 2022-12-20 | by ( ) www.reuters.com time to read: +2 min

SummarySummary Companies Futures: Dow climbs 0.12%, S&P up 0.01%, Nasdaq off 0.13%Dec 20 (Reuters) - U.S. stock index futures came under pressure on Tuesday after the Bank of Japan surprised global investors with a policy shift that would allow long-term interest rates to rise more. The BOJ decided to allow the 10-year bond yield to move 50 basis points either side of its 0% target, bigger than the previous 25 basis point band, against expectations of no change at its policy meeting. Treasuries fell following BoJ's shock move, with benchmark 10-year Treasury yield rising more than 8 basis points to a three-week high of 3.6676%. A slew of other economic data due this week including consumer confidence, existing home sales and core inflation will provide more clues to investors on future interest rate hikes. ET, Dow e-minis were up 41 points, or 0.12%, S&P 500 e-minis were up 0.25 points, or 0.01%, and Nasdaq 100 e-minis were down 14.25 points, or 0.13%.

Japan's Nikkei Stock Index (.N225) shed 2.2% after trading in positive territory earlier in the day, as stocks resumed trading following the BOJ decision. The dollar dropped 2.43% against the yen to 133.62 after the BOJ decision, hitting a four-month low. In early European futures trading, the pan-region Euro Stoxx 50 futures were down 0.89% at 3,784, German DAX futures were down 0.91% at 13,888, FTSE futures were down 0.63% at 7,321. U.S. stock futures, the S&P 500 e-minis , were down 0.52% at 3,825.5. In Asian trading, the yield on benchmark 10-year Treasury notes rose to 3.6752% compared with its U.S. close of 3.583% on Monday.

[1/2] A trader works on the trading floor at the New York Stock Exchange (NYSE) in New York City, U.S., December 14, 2022. However, money market participants still place a 73.5% chance of a 25 basis points rate hike in February to 4.5%-4.75%, with a terminal rate of 4.84% in May 2023. ET, Dow e-minis were up 14 points, or 0.04%, S&P 500 e-minis were up 4.5 points, or 0.12%, and Nasdaq 100 e-minis were up 23 points, or 0.2%. Moderna Inc (MRNA.O) advanced 2.7% after Jefferies upgraded the biotechnology firm's stock to "buy" from "hold", citing cancer therapy opportunities. Reporting by Shubham Batra and Johann M Cherian in Bengaluru; Editing by Saumyadeb Chakrabarty and Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

☆ Futures higher after two-week selloff, Tesla jumps on Musk poll
▼ + stars: | 2022-12-19 | by ( ) www.reuters.com time to read: +2 min

[1/2] A trader works on the trading floor at the New York Stock Exchange (NYSE) in New York City, U.S., December 14, 2022. REUTERS/Andrew KellySummarySummary Companies Futures up: Dow 0.31%, S&P 0.40%, Nasdaq 0.49%Dec 19 (Reuters) - U.S. stock index futures edged higher on Monday after equities suffered two straight weeks of losses, while Tesla shares rose after CEO Elon Musk launched a poll asking if he should quit as Twitter's boss. However, money market participants still place a 73.5% chance of a 25 basis points rate hike in February to 4.5%-4.75%, with a terminal rate of 4.84% in May 2023. ET, Dow e-minis were up 102 points, or 0.31%, S&P 500 e-minis were up 15.5 points, or 0.4%, and Nasdaq 100 e-minis were up 55.5 points, or 0.49%. Moderna Inc (MRNA.O) advanced 4.2% after Jefferies upgraded the biotechnology firm's stock to "buy" from "hold", citing cancer therapy opportunities.

ETMeta up on J.P. Morgan rating upgradeDigital World Acquisition down on CFO exitFutures down: Dow 1.16%, S&P 1.05%, Nasdaq 0.60%Dec 16 (Reuters) - Wall Street's main stock indexes were set to extend losses on Friday as fears of a looming recession, sparked by the Federal Reserve's relentless battle against inflation, hammered sentiment. The Bank of England and the European Central Bank were the latest ones to indicate an extended rate-hike cycle on Thursday. The simultaneous expiration of stock options, stock index futures and index options contracts later in the day, known as triple witching, could cause volatility through the trading session. ET, Dow e-minis were down 384 points, or 1.16%, S&P 500 e-minis were down 41.25 points, or 1.05%, and Nasdaq 100 e-minis were down 68.5 points, or 0.6%. Reporting by Shubham Batra, Ankika Biswas and Johann M Cherian in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

The U.S. central bank hiked rates by 50 basis points (bps) on Wednesday, slowing down from four back-to-back 75 bps hikes, although Fed Chair Jerome Powell said recent signs of slowing inflation have not brought any confidence yet that the fight had been won. The Fed's policy-setting committee projected it would continue raising rates to above 5% in 2023, a level not seen since a steep economic downturn in 2007. Money market participants currently expect at least two 25 bps rate hikes next year and borrowing costs to peak at 4.9% by May next year, before falling to around 4.4% by year-end. Wall Street's main indexes have staged a strong recovery since hitting 2022 lows in October on hopes of a less aggressive Fed, but the rally stalled in December due to mixed economic data and worrying corporate forecasts. Tesla Inc (TSLA.O) fell 2.9% after CEO Elon Musk disclosed another $3.6 billion in stock sales, taking his total near $40 billion this year and frustrating investors as the company's shares wallow at two-year lows.

☆ Futures slide as hawkish Fed quashes policy pivot hopes
▼ + stars: | 2022-12-15 | by ( Sruthi Shankar | ) www.reuters.com time to read: +3 min

Investors currently expect at least two 25 bps rate hikes next year and borrowing costs to peak at 4.9% by May next year, before falling to around 4.4% by year-end. Both central banks are expected to hike borrowing costs by 50 bps. Shares of megacap companies, including Apple (AAPL.O), Amazon.com Inc (AMZN.O), Microsoft Corp (MSFT.O) and Nvidia Corp , fell between 1.1% and 2.1% in premarket trading. Trade Desk Inc (TTD.O) slipped 4.1% after Jefferies downgraded its rating for the adtech firm to "hold" from "buy". Reporting by Sruthi Shankar and Ankika Biswas in Bengaluru; Editing by Savio D'Souza and Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

Wall Street's main indexes have slumped this year on fears of aggressive rate hikes triggering a U.S. recession. ET, Dow e-minis were up 81 points, or 0.24%, S&P 500 e-minis were up 12.75 points, or 0.32%, and Nasdaq 100 e-minis were up 34.25 points, or 0.3%. Qualcomm Inc (QCOM.O) lost 2.7% after Wells Fargo downgraded its rating on the smartphone chipmaker's stock to "underweight" from "equal weight". Rivian Automotive Inc (RIVN.O) lost 1.2% after the company paused its partnership discussions with Mercedes-Benz Vans on electric van production in Europe. Reporting by Shubham Batra, Ankika Biswas and Johann M Cherian in Bengaluru Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

☆ Futures rise ahead of CPI data, Fed rate decision in focus
▼ + stars: | 2022-12-12 | by ( ) www.reuters.com time to read: +3 min

SummarySummary Companies Futures up: Dow 0.22%, S&P 0.29%, Nasdaq 0.34%Dec 12 (Reuters) - U.S. stock index futures edged higher on Monday ahead of monthly consumer inflation data, while investors braced for the Federal Reserve meeting later this week. The Nasdaq (.IXIC) shed 4%, and S&P 500 (.SPX) and Dow Jones Industrial Average (.DJI) lost 3.4% and 2.8%, respectively. ET, Dow e-minis were up 73 points, or 0.22%, S&P 500 e-minis were up 11.25 points, or 0.29%, and Nasdaq 100 e-minis were up 39.25 points, or 0.34%. Rivian Automotive Inc (RIVN.O) tumbled 4.3% after the company paused its partnership discussions with Mercedes-Benz Vans on electric van production in Europe. Reporting by Shubham Batra and Ankika Biswas in Bengaluru Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

☆ Futures edge higher ahead of producer prices data
▼ + stars: | 2022-12-09 | by ( ) www.reuters.com time to read: +2 min

SummarySummary Companies Futures up: Dow 0.10%, S&P 0.22%, Nasdaq 0.30%Dec 9 (Reuters) - U.S. stock index futures ticked up on Friday ahead of monthly producer prices data that could offer more clues on how long the Federal Reserve will keep raising interest rates to tame decades-high inflation. ET, is expected to show producer prices edged higher to 7.2% last month after an 8% rise in October. Core producer prices, which exclude volatile food and energy components, are expected to show a 5.9% rise after a 6.7% growth in October. Consumer prices data for November will be out next Tuesday, a day ahead of the U.S. central bank's policy decision where it is widely expected to raise rates by 50 basis points. U.S.-listed China stocks rose on optimism over China's COVID policy pivot.

☆ Futures edge up ahead of jobs data, recession fears loom
▼ + stars: | 2022-12-08 | by ( ) www.reuters.com time to read: +3 min

SummarySummary Companies Futures up: Dow 0.02%, S&P 0.13%, Nasdaq 0.24%Dec 8 (Reuters) - U.S. stock index futures edged up on Thursday ahead of weekly jobless claims data, while fears of an impending recession brought on by an aggressive Federal Reserve kept investors on edge. The U.S. central bank has raised its policy rate by 375 basis points this year to a 3.75%-4.00% range from near zero, the fastest rate hikes since the 1980s. This aggressive approach by the central bank has stoked worries of a recession, with top executives of major U.S. banks and institutions including JPMorgan, BlackRock and Citi forecasting a likely economic downturn in 2023. "The yield curve is hideously inverted, recession is coming, and stock markets usually bottom only after a recession has started," said Luke Templeman, thematic research analyst at Deutsche Bank. ET, Dow e-minis were up 6 points, or 0.02%, S&P 500 e-minis were up 5.25 points, or 0.13%, and Nasdaq 100 e-minis were up 28 points, or 0.24%.

"It's just one data point that leads to the Fed cooling down their aggressive hikes, but it doesn't change December's 50 basis point (rate hike). The key is going to be the data between December and February as to what they do next." The U.S. central bank has raised its policy rate by 375 basis points this year in the fastest hikes since the 1980s. Adding to the fears, the yield curve between the 2-year and 10-year Treasury notes has also widened in the recent days. ET, Dow e-minis were up 148 points, or 0.44%, S&P 500 e-minis were up 22.5 points, or 0.57%, and Nasdaq 100 e-minis were up 65.5 points, or 0.57%.

SummarySummary Companies Apple down, Morgan Stanley cuts Dec shipment estimateCarvana tumbles, Wedbush slashes PT to Street lowFutures down: Dow 0.25%, S&P 0.48%, Nasdaq 0.82%Dec 7 (Reuters) - U.S. stock indexes were set to open lower on Wednesday after warnings of a looming recession from major Wall Street bankers offset optimism around China relaxing its strict zero-COVID rules. Fears of a recession due to the U.S. Federal Reserve's aggressive rate hikes to curb inflation pulled the S&P 500 (.SPX) lower for a fourth straight session on Tuesday, with all major Wall Street indexes ending down 1%-2%. "From the bigger picture, the Fed has hiked rates to a point where markets are expecting monetary policy to be restrictive enough to cause a mild recession." The CBOE volatility index (.VIX), also known as Wall Street's fear gauge, rose to a two-week high at 23.01 points amid increased investor anxiety. ET, Dow e-minis were down 85 points, or 0.25%, S&P 500 e-minis were down 19 points, or 0.48%, and Nasdaq 100 e-minis were down 94.75 points, or 0.82%.

☆ Futures fall on growing fears of recession
▼ + stars: | 2022-12-07 | by ( ) www.reuters.com time to read: +3 min

SummarySummary Companies Futures down: Dow 0.11%, S&P 0.21%, Nasdaq 0.30%Dec 7 (Reuters) - U.S. stock index futures edged lower on Wednesday after warnings of a looming recession from major Wall Street bankers offset optimism around the easing of China's strict zero-COVID rules. Fears of a recession due to the U.S. Federal Reserve's aggressive rate hikes to curb inflation pulled the S&P 500 (.SPX) lower for a fourth straight session on Tuesday, with all major Wall Street indexes closing down 1-2%. ET, Dow e-minis were down 36 points, or 0.11%, S&P 500 e-minis were down 8.25 points, or 0.21%, and Nasdaq 100 e-minis were down 34.75 points, or 0.3%. Among other stocks, GameStop Corp (GME.N) jumped 1.1% ahead of its third-quarter results where it is expected to report a 4.5% rise in revenue. Reporting by Shubham Batra and Ankika Biswas in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

"It's the recession fear that a lot of investors have ... the concern is that profits begin to drop more meaningfully in the recession." As of Dec. 2, analysts expected S&P 500 companies to report a drop of 0.6% in fourth-quarter earnings after posting a 4.4% rise in the third quarter, according to Refinitiv IBES data. ET, Dow e-minis were down 31 points, or 0.09%, S&P 500 e-minis were down 2 points, or 0.05%, and Nasdaq 100 e-minis were up 4.75 points, or 0.04%. Meanwhile, a Tuesday runoff election in Georgia between Democratic U.S. Among individual stocks, GameStop Corp (GME.N) rose 1.6% in premarket trading following a media report on layoffs.

☆ Futures subdued after sharp Wall St selloff on Fed worries
▼ + stars: | 2022-12-06 | by ( ) www.reuters.com time to read: +2 min

Concerns about steeper increase in borrowing costs have boosted dollar, while weighing on equities and bond markets this year, with the S&P 500 down 16.1% and the widely followed part of the Treasury yield curve deeply inverted - a harbinger of recession. As of Dec. 2, analysts expect S&P 500 companies to report a drop of 0.6% in fourth-quarter earnings after posting a 4.4% rise in the third quarter, according to Refinitiv IBES data. ET, Dow e-minis were down 37 points, or 0.11%, S&P 500 e-minis were down 3.5 points, or 0.09%, and Nasdaq 100 e-minis were down 2.25 points, or 0.02%. Among individual stocks, General Electric (GE.N) rose 1.5% in premarket trading after Oppenheimer upgraded the industrial conglomerate's stock to "outperform". Reporting by Devik Jain in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

☆ Futures fall as investors await more data before Fed meet
▼ + stars: | 2022-12-05 | by ( ) www.reuters.com time to read: +2 min

SummarySummary Companies Futures down: Dow 0.41%, S&P 0.44%, Nasdaq 0.28%Dec 5 (Reuters) - U.S. stock index futures fell on Monday as investors awaited more data, including a report on the services sector, to gauge the Federal Reserve's next move at its rate-setting meeting later this month. But near the end of the week, equities lost some momentum after November's robust U.S. payrolls report challenged hopes for a less aggressive Fed. Investors see a 91% chance that the U.S. central bank will increase the interest rates by 50 basis points next week, with the rates peaking in May 2023. ET, Dow e-minis were down 139 points, or 0.4%, S&P 500 e-minis were down 17.75 points, or 0.44%, and Nasdaq 100 e-minis were down 33.75 points, or 0.28%. Reuters reported China was set to announce the further easing of some of the world's toughest COVID curbs as early as Wednesday.

☆ Futures slip ahead of November jobs report
▼ + stars: | 2022-12-02 | by ( ) www.reuters.com time to read: +2 min

SummarySummary Companies Futures off: Dow 0.07%, S&P 0.02%, Nasdaq 0.07%Dec 2 (Reuters) - U.S. stock index futures edged lower on Friday as investors await the monthly jobs report for November, which would provide more clues on the Federal Reserve's path of monetary tightening. The Labor Department's jobs report due at 8:30 a.m. Investors now see a 91% chance that the U.S. central bank will increase interest rates by 50 basis points in December, with the rates peaking under 5% in May 2023. "The market is looking for the Goldilocks scenario for U.S. jobs numbers on Friday," said Russ Mould, investment director at AJ Bell. Benchmark 10-year Treasury yields fell to 10-week lows and the two-year note , which often indicates interest rate expectations, slipped to early October lows.

☆ Futures flat after strong Wall Street rally; Salesforce slides
▼ + stars: | 2022-12-01 | by ( Ankika Biswas | ) www.reuters.com time to read: +2 min

SummarySummary Companies Futures: Dow dips 0.16%, S&P flat, Nasdaq off 0.11%Dec 1 (Reuters) - U.S. stock index futures were little changed on Thursday after a strong Wall Street rally in the previous session on hopes of a potential downshift in the Fed's policy on aggressive rate hikes, while Salesforce fell on news of its co-CEO to step down. The S&P 500 index (.SPX) closed above its 200-day moving average for the first time since April in the previous session, while the Nasdaq index (.IXIC) ended over 4% higher. "Seeing a little bit of profit taking," said Rick Meckler, partner at Cherry Lane Investments in New Vernon, New Jersey. Powell, however, cautioned that the fight against inflation was far from over and indicated that the terminal rate will be "somewhat higher" than the 4.6% indicated by policymakers in their September projections. ET, Dow e-minis were down 56 points, or 0.16%, S&P 500 e-minis were down 2 points, or 0.05%, and Nasdaq 100 e-minis were down 13.25 points, or 0.11%.

A reading from the Commerce Department showed consumer spending, which accounts for more than two-thirds of U.S. economic activity, rose 0.8% after an unrevised 0.6% increase in September. The core personal consumption expenditure (PCE) index, excluding volatile items, eased to 0.2%, against expectations of 0.3%. "People are feeling that the worst is behind us," said Sam Stovall, chief investment strategist at CFRA Research in New York. The S&P 500 index (.SPX) closed above its 200-day moving average for the first time since April in the previous session, while the Nasdaq index (.IXIC) ended over 4% higher. FEDWATCHInvestors also await nonfarm payrolls data on Friday, with the ADP report on Wednesday suggesting cooling demand for labor.

☆ Wall St set to open flat as focus turns to Powell speech
▼ + stars: | 2022-11-30 | by ( Shreyashi Sanyal | ) www.reuters.com time to read: +3 min

The Dow Jones Industrial Average (.DJI) has gained nearly 18% in the last two months, while the Nasdaq index (.IXIC) has added about 4%. Traders expect the Fed to increase rates by 50 basis points in December, with the rates peaking in June 2023. The data is expected to show 200,000 job additions in November, compared with 261,000 jobs in the prior month. So I don't really make much out of that, I'd like to see what Powell has to say," Saluzzi added. Biogen Inc (BIIB.O) jumped 4.3% after its experimental Alzheimer's drug slowed cognitive decline in a closely watched trial.

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