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[1/4] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., November 7, 2022. Traders are now betting on 61% odds of a 50-basis point rate hike at the U.S. central bank's meeting in December. Meta Platforms Inc (META.O) climbed 5.4% following a report that the company was planning to begin large-scale layoffs this week. Advancing issues outnumbered decliners by a 1.14-to-1 ratio on the NYSE and by a 1.02-to-1 ratio on the Nasdaq. The S&P index recorded 15 new 52-week highs and 11 new lows, while the Nasdaq recorded 58 new highs and 145 new lows.
[1/2] A Wall Street sign outside the New York Stock Exchange in New York City, New York, U.S., October 2, 2020. A split government could result in political gridlock that stymies major policy changes, an outcome that investors see as favorable for equities. Shares of Meta Platforms Inc (META.O) climbed 5.4% following a report that the company was planning to begin large-scale layoffs this week. Advancing issues outnumbered decliners for a 1.31-to-1 ratio on the NYSE and a 1.10-to-1 ratio on the Nasdaq. The S&P index recorded six new 52-week highs and two new lows, while the Nasdaq recorded 43 new highs and 95 new lows.
[1/2] A Wall Street sign outside the New York Stock Exchange in New York City, New York, U.S., October 2, 2020. REUTERS/Carlo AllegriSummarySummary Companies Meta Platforms rises on report of job cutsFutures up: Dow 0.22%, S&P 0.21%, Nasdaq 0.23%Nov 7 (Reuters) - U.S. stock indexes were set to open higher on Monday following a rollercoaster week, with investor focus shifting to Tuesday's midterm elections that will determine control of Congress. Traders are now betting on 67% odds of a 50-basis point rate hike at the U.S. central bank's meeting in December. ET, Dow e-minis were up 72 points, or 0.22%, S&P 500 e-minis were up 7.75 points, or 0.21%, and Nasdaq 100 e-minis were up 25.25 points, or 0.23%. The CBOE Volatility index (.VIX), also known as Wall Street's fear gauge, rose to 25.38 points a day after closing at its lowest since Sept. 13.
[1/2] A Wall Street sign outside the New York Stock Exchange in New York City, New York, U.S., October 2, 2020. "In general we have seen stocks perform better after a split government, I expect that to continue." Economists expect the annual consumer prices inflation to slow to 8.0% and the core numbers to dip to 6.5%. Both the midterm elections and inflation are likely to provide major cues for Wall Street after a volatile week dominated by mixed jobs report and hawkish comments from Fed Chair Jerome Powell. All the three major U.S. stock indexes are in bear market territory, from their previous record closing highs.
"Powell should also be pleased that the unemployment rate went up from 3.6% to 3.7%. Traders' bets of a 75 basis point rate hike in December briefly rose to 64.5% after the release of the data but swiftly slipped back to around 60%. Meanwhile, CBOE's volatility index VIX, known as Wall Street's fear gauge, hit its lowest level since Sept. 9. Advancing issues outnumbered decliners by a 3.43-to-1 ratio on the NYSE and by a 1.51-to-1 ratio on the Nasdaq. The S&P index recorded 14 new 52-week highs and 15 new lows, while the Nasdaq recorded 40 new highs and 98 new lows.
SNAPSHOT Wall St opens lower with focus on Fed rate decision
  + stars: | 2022-11-02 | by ( ) www.reuters.com   time to read: 1 min
Nov 2 (Reuters) - Wall Street's main indexes opened lower on Wednesday, ahead of an interest rate decision by the Federal Reserve, as a jump in private payrolls fueled fears that the central bank would not temper its aggressive stance on future rate hikes. The Dow Jones Industrial Average (.DJI) fell 76.92 points, or 0.24%, at the open to 32,576.28. The S&P 500 (.SPX) opened lower by 3.20 points, or 0.08%, at 3,852.90, while the Nasdaq Composite (.IXIC) dropped 5.84 points, or 0.05%, to 10,885.01 at the opening bell. Reporting by Amruta Khandekar in BengaluruOur Standards: The Thomson Reuters Trust Principles.
SummarySummary Companies Fed rate decision due at 2 p.m. However, U.S. private payrolls increased more than expected in October, the ADP National Employment report showed, offering further evidence that the Fed's rapid rate hikes have yet to significantly slow economic growth. The report showed private payrolls rose by 239,000 jobs last month. The non-farm payrolls report due on Friday will offer further clues on the outlook for interest rates. read more read moreTinder-owner Match Group (MTCH.O) rose 6.7% after reporting better-than-expected third-quarter revenue.
SNAPSHOT Wall St opens higher on hopes of slowing rate hikes
  + stars: | 2022-11-01 | by ( ) www.reuters.com   time to read: 1 min
Nov 1 (Reuters) - Wall Street's main indexes opened higher on Tuesday, with Nasdaq in the lead, as investors hoped the U.S. Federal Reserve may tone down its aggressive approach on interest rate hikes. The Dow Jones Industrial Average (.DJI) rose 129.84 points, or 0.40%, at the open to 32,862.79. The S&P 500 (.SPX) opened higher by 29.81 points, or 0.77%, at 3,901.79, while the Nasdaq Composite (.IXIC) gained 166.59 points, or 1.52%, to 11,154.74 at the opening bell. Reporting by Amruta Khandekar in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.
Future rise after strong month on Wall Street
  + stars: | 2022-11-01 | by ( ) www.reuters.com   time to read: +2 min
SummarySummary Companies Futures up: Dow 0.58%, S&P 0.82%, Nasdaq 1.05%Nov 1 (Reuters) - U.S. stock index futures rose on Tuesday after a strong October on Wall Street, as investors clung to hopes that the Federal Reserve will signal a slower pace of future interest rate hikes as economic growth slows. But traders are hoping that the Fed could soon pause its rate hikes or at least shift to a less aggressive stance. ET, Dow e-minis were up 190 points, or 0.58%, S&P 500 e-minis were up 32 points, or 0.82%, and Nasdaq 100 e-minis were up 119.75 points, or 1.05%. ET, is expected to show manufacturing PMI fell to 50 last month after declining to 50.9 in September. Reporting by Sruthi Shankar and Amruta Khandekar in Bengaluru; Editing by Saumyadeb ChakrabartyOur Standards: The Thomson Reuters Trust Principles.
Wall St drops as focus shifts to Fed rate decision
  + stars: | 2022-10-31 | by ( Amruta Khandekar | ) www.reuters.com   time to read: +4 min
A policy decision from the Fed is due on Wednesday, with investors expecting a fourth straight 75-basis point interest rate hike to curb decades-high inflation. Among S&P 500 sectors, information technology (.SPLRCT) and communication services (.SPLRCL) were the lead decliners, falling 1.2% and 1.5%, respectively. Meanwhile, traders' bets of a 50 basis point rate hike in December stood at 44.6%, according to CME Group's Fedwatch tool. Among single stocks, TuSimple Holdings (TSP.O) plunged 46.8% after the trucking firm said its board terminated its chief executive officer. The S&P index recorded 22 new 52-week highs and seven new lows, while the Nasdaq recorded 101 new highs and 79 new lows.
Oct 31 (Reuters) - Wall Street's main indexes opened lower on Monday, capping a month dominated by mixed earnings reports and expectations of the U.S. Federal Reserve toning down its hawkish stance on inflation. The Dow Jones Industrial Average (.DJI) fell 107.53 points, or 0.33%, at the open to 32,754.27. The S&P 500 (.SPX) opened lower by 19.21 points, or 0.49%, at 3,881.85, while the Nasdaq Composite (.IXIC) dropped 74.02 points, or 0.67%, to 11,028.43 at the opening bell. Reporting by Amruta Khandekar in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.
Futures fall as investor hopes for a less hawkish Fed wobble
  + stars: | 2022-10-31 | by ( ) www.reuters.com   time to read: +2 min
The S&P 500 (.SPX) and the Nasdaq (.IXIC) had notched two straight weekly gains on Friday, supported by better-than-expected earnings from companies outside the technology sector as well as hopes for a less hawkish Fed in the future. Still, both indexes are set to record gains in October after two straight months of declines. Traders are nearly equally split in their expectations of the Fed delivering a smaller interest rate hike at its next policy meeting, with odds of a 50 basis point rate hike in December standing at 47.9%, according to CME Group's Fedwatch tool. ET, Dow e-minis were down 146 points, or 0.44%, S&P 500 e-minis were down 20.5 points, or 0.52%, and Nasdaq 100 e-minis were down 80.25 points, or 0.69%. Reporting by Amruta Khandekar in Bengaluru; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.
[1/2] Amazon logo is seen in front of a decreasing stock graph in this illustration taken April 29, 2022. Apple Inc (AAPL.O) cautioned revenue growth could see some pressure in the December quarter but shares edged 0.6% higher as the iPhone maker's fourth-quarter results showed some resilience. ET, Dow e-minis were down 97 points, or 0.3%, S&P 500 e-minis were down 30 points, or 0.79%, and Nasdaq 100 e-minis were down 130.75 points, or 1.16%. A report on Thursday showing a rebound in U.S. economic growth in the third quarter had helped ease slowdown fears. Shares of Tesla were down 1.1% premarket.
Analysts now see third-quarter S&P 500 earnings growth of 4.1%, up from 2.5% on Thursday, according to Refinitiv data. Of the 11 major sectors of the S&P 500, all but consumer discretionary stocks (.SPLRCD), weighed down by Amazon shares, ended the session green. Third-quarter reporting season has passed the halfway point, with 263 of the companies in the S&P 500 having reported. The S&P 500 posted 32 new 52-week highs and eight new lows; the Nasdaq Composite recorded 117 new highs and 115 new lows. Volume on U.S. exchanges was 11.26 billion shares, compared with the 11.53 billion average over the last 20 trading days.
That sent S&P 500 futures down 0.5% and Nasdaq futures down 0.6%, showing traders expect Wall Street to open lower on Friday. Among the 11 major sectors of the S&P 500, industrials had the biggest percentage gain, with communication services (.SPLRCL), weighed by Meta, down the most. Third-quarter reporting season forges ahead at full speed, with 227 of the companies in the S&P 500 having reported. Shares of Southwest Airlines Co (LUV.N) rose 2.7% after the carrier's quarterly profit topped consensus estimates. The S&P 500 posted 23 new 52-week highs and 12 new lows; the Nasdaq Composite recorded 93 new highs and 119 new lows.
The Bank of Canada announced a smaller-than-expected rate hike on Wednesday, with investor focus on a decision from the European Central Bank later in the day. ET is expected to show GDP growth likely rebounded at a 2.4% annualized rate last quarter after two straight quarterly declines. ET, Dow e-minis were up 160 points, or 0.5%, S&P 500 e-minis were up 12.25 points, or 0.32%, and Nasdaq 100 e-minis were up 1.75 points, or 0.02%. Ford Motor Co (F.N) fell 1.3% after the automaker reported a net loss in the third quarter. Reporting by Amruta Khandekar; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.
Reuters GraphicsThe S&P 500 and the Nasdaq were last in negative territory, dragged lower by market-leading tech and tech-adjacent companies following results from Microsoft (MSFT.O) and Alphabet (GOOGL.O). Among the 11 major sectors of the S&P 500, communications services (.SPLRCL) and tech (.SPLRCT) were suffering the largest percentage losses. Third quarter earnings season has shifted into high gear, with 170 of the companies in the S&P 500 having reported. Analysts now see aggregate S&P 500 earnings growth of 2.3%, down from 4.5% at the beginning of the month, per Refinitiv. The S&P 500 posted 25 new 52-week highs and 2 new lows; the Nasdaq Composite recorded 87 new highs and 54 new lows.
The benchmark 10-year Treasury yield fell to one-week lows as expectations of slower rate hikes gained after the Bank of Canada delivered a smaller-than-expected 50 basis point increase. Such hopes also come against the backdrop of economic indicators and corporate results suggesting that rapid increases to the borrowing cost is slowing the economic growth. Bets for a 50 basis point hike in December have increased to 55.3%, up from 47.4% a day ago, while the expectations for a 75 basis point hike have shrunk to 38.6% from 50.8%, according to CME's FedWatch tool. Visa Inc (V.N) jumped 5.2%, boosting the Dow, after the payments processor topped quarterly profit estimates on strong travel demand. The S&P index recorded 23 new 52-week highs and two new lows, while the Nasdaq recorded 73 new highs and 41 new lows.
Microsoft Corp (MSFT.O) posted its lowest sales growth in five years and forecast second-quarter revenue below Wall Street estimates, while Alphabet (GOOGL.O) reported downbeat ad sales and warned of a slowdown in advertising spending. Shares of ad revenue dependent social media firms Meta Platforms (META.O) fell 4.4%, while Pinterest (PINS.N) dropped 3.9%. ET, Dow e-minis were down 70 points, or 0.22%, S&P 500 e-minis were down 31.75 points, or 0.82%, and Nasdaq 100 e-minis were down 213.5 points, or 1.82%. Kraft Heinz Co (KHC.O) gained 2.5% after the packaged food maker beat third-quarter sales estimates, helped by higher product prices. Reporting by Amruta Khandekar and Shreyashi Sanyal in Bengaluru; Editing by Saumyadeb Chakrabarty and Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.
Shares of Meta Platforms (META.O) fell 3.9% and Pinterest (PINS.N) 4.1% as they rely on ad revenue. U.S.-listed shares of Spotify Technology dropped 5.7%, as margins came under pressure from a slowdown in ad growth. ET, Dow e-minis were down 37 points, or 0.12%, S&P 500 e-minis were down 27 points, or 0.7%, and Nasdaq 100 e-minis were down 186 points, or 1.59%. A bright spot was Visa Inc (V.N), whose shares rose 1.3% after the payments processor topped quarterly profit estimates on strong travel demand. Reporting by Amruta Khandekar and Shreyashi Sanyal in Bengaluru; Editing by Saumyadeb Chakrabarty and Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.
Shares of both companies fell about 7.5% each, dragging down Amazon.com (AMZN.O) and Apple (AAPL.O), which are scheduled to report results later this week. Shares of ad revenue dependent social media firms Meta Platforms (META.O) fell 3.4%, while Pinterest (PINS.N) dropped 1%. Visa Inc (V.N) jumped 5%, boosting the Dow, after the payments processor topped quarterly profit estimates on strong travel demand. Advancing issues outnumbered decliners by a 2.05-to-1 ratio on the NYSE and by a 1.87-to-1 ratio on the Nasdaq. The S&P index recorded 19 new 52-week highs and two new lows, while the Nasdaq recorded 45 new highs and 24 new lows.
Wall St extends rally on signs of ebbing Fed rate hikes
  + stars: | 2022-10-25 | by ( Stephen Culp | ) www.reuters.com   time to read: +4 min
The S&P 500 has reclaimed nearly 8% from the trough of its Oct. 12 close. Among the 11 major sectors of the S&P 500, all but energy (.SPNY) were green, with real estate stocks (.SPLRCR) enjoying the largest percentage gain. Third-quarter reporting season is firing all pistons, with 129 of the companies in the S&P 500 having reported. Analysts have set the bar low; aggregate S&P 500 earnings growth is now seen landing at 3.3% year-on-year, down from 4.5% at the beginning of the month, per Refinitiv. The S&P 500 posted 12 new 52-week highs and 1 new lows; the Nasdaq Composite recorded 65 new highs and 108 new lows.
The tech-heavy Nasdaq (.IXIC) jumped more than 2% in the session as the 10-year Treasury yield hit the day's low of 4.05% before bouncing slightly. 3M (MMM.N), on the other hand, fell 0.4% as it cut its full-year revenue and profit forecasts due to a stronger dollar. Advancing issues outnumbered decliners by a 5.56-to-1 ratio on the NYSE and by a 4.32-to-1 ratio on the Nasdaq. The S&P index recorded 12 new 52-week highs and one new low, while the Nasdaq recorded 61 new highs and 101 new lows. Reporting by Amruta Khandekar and Shreyashi Sanyal in Bengaluru; Editing by Maju Samuel and Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.
Earnings from the companies will offer a glimpse into how corporate America is holding up in the face of decades-high inflation and tighter financial conditions. "There is a positive view (on technology earnings)," said Giuseppe Sette, president of AI investment platform Toggle. FEDWATCHToggle's Sette noted that it is not yet a done deal that investors are shifting towards a more dovish Fed. Advancing issues outnumbered decliners by a 5.16-to-1 ratio on the NYSE and by a 4.03-to-1 ratio on the Nasdaq. The S&P index recorded 10 new 52-week highs and one new low, while the Nasdaq recorded 41 new highs and 76 new lows.
Earnings reports from companies including Microsoft (MSFT.O) and Google-owner Alphabet (GOOGL.O) will offer further clues on the strength of corporate America amid higher Treasury yields and an aggressive Federal Reserve tightening cycle. Shares of the two companies, which report after market close, were up about 0.2% each in premarket trading. Register now for FREE unlimited access to Reuters.com Register"There is a positive view (on technology earnings)," said Giuseppe Sette, president of AI investment platform Toggle. Leading premarket gains among Dow components, Coca-Cola Co (KO.N) rose 2.4% after the company raised its annual revenue and profit forecasts, banking on steady demand amid price increases. 3M (MMM.N), on the other hand, fell 2.8% as it cut its full-year revenue and profit forecasts due to a stronger dollar.
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