DIRS.INFO The most relevant business & tech news

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

"Fed Chair Powell is speaking, but past comments have done little other than chant 'hike, hike, hike'," said Paul Donovan, chief economist, UBS Global Wealth Management. "Powell has yet to explain the mechanism by which hiking rates is supposed to reduce inflation (which matters to analyzing when rates might peak) ... today's speech should signal a slowing of rate hikes." Hopes that the Fed will now hike rates in smaller increments and recent data pointing to a mild cooling in prices have positioned the benchmark S&P 500 index (.SPX) for its second straight month of gains. Traders see the Fed increasing rates by 50 basis points in December, with the rates peaking in June 2023. Reporting by Shreyashi Sanyal & Devik Jain; Additional reporting by Shubham Batra; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

☆ Wall St set to open lower on China's anti-lockdown protests; Apple slips
▼ + stars: | 2022-11-28 | by ( Ankika Biswas | ) www.reuters.com time to read: +3 min

As China's strict zero-COVID policy aimed at stamping out COVID-19 with lockdowns and quarantines has become a lightning rod for frustrations, protests erupted over the weekend as a show of solidarity with rare displays of defiance. Although there were no signs of new protests in Beijing or Shanghai on Monday, the curbs so far have led to concerns over China's economic growth and its trickle-down effect on global companies. ET, Dow e-minis were down 216 points, or 0.63%, S&P 500 e-minis were down 33.75 points, or 0.84%, and Nasdaq 100 e-minis were down 99 points, or 0.84%. On Friday, the Nasdaq closed lower, weighed down by Apple in a subdued holiday-shortened trading session for Wall Street. Reporting by Ankika Biswas and Shreyashi Sanyal in Bengaluru; Editing by Savio D'Souza and Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

☆ Wall St futures slip on China COVID woes; Apple falls
▼ + stars: | 2022-11-28 | by ( ) www.reuters.com time to read: +2 min

As China's strict policy aimed at stamping out COVID-19 with lockdowns and quarantines has become a lightning rod for frustrations, protests erupted over the weekend as a show of solidarity with rare displays of defiance in China. ET, Dow e-minis were down 184 points, or 0.54%, S&P 500 e-minis were down 31.75 points, or 0.79%, and Nasdaq 100 e-minis were down 105.25 points, or 0.89%. However, street protests against zero-COVID policy in China underline a harsher reality that is undermining market sentiment, at least for now," said Rabobank analysts in a note. On Friday, the Nasdaq closed lower, weighed down by Apple in a subdued holiday-shortened trading session for Wall Street, as investors watched Black Friday sales and COVID-19 cases in China. Reporting by Ankika Biswas in Bengaluru; Editing by Savio D'SouzaOur Standards: The Thomson Reuters Trust Principles.

SummarySummary Companies Best Buy up, sees smaller annual sales dropMedtronic down, lowers FY profit outlookTesla attempts to recoup losses post slumpFutures up: Dow 0.44%, S&P 0.49%, Nasdaq 0.40%Nov 22 (Reuters) - Wall Street's main indexes were set to open higher on Tuesday, with gains in shares of Walgreens and Best Buy helping investors assuage worries around the economic fallout of stricter COVID-19 curbs in China. Leading gains among S&P 500 (.SPX) components trading before the bell, Best Buy Co Inc (BBY.N) jumped 9.1% after forecasting a smaller-than-expected drop in annual sales ahead of the crucial holiday season. Dow component (.DJI) Walgreens Boots Alliance Inc (WBA.O) rose 1.7% after Cowen & Co upgraded the drug distributor stock, citing its healthcare services business push. ET, Dow e-minis were up 148 points, or 0.44%, S&P 500 e-minis were up 19.25 points, or 0.49%, and Nasdaq 100 e-minis were up 46 points, or 0.4%. Analysts expect thin trading volumes as markets will be shut on Thursday for Thanksgiving holiday and will remain open for half day on Friday.

☆ Futures decline as China COVID cases rise; Disney jumps
▼ + stars: | 2022-11-21 | by ( ) www.reuters.com time to read: +1 min

SummarySummary Companies Futures down: Dow 0.27%, S&P 0.55%, Nasdaq 0.74%Nov 21 (Reuters) - U.S. stock index futures declined on Monday as COVID-19 flare ups in China added to concerns about slowing growth, while Disney shares jumped as investors cheered Bob Iger's surprise comeback as chief executive. Walt Disney Co (DIS.N) leapt 8.1% higher in premarket trading as Iger's return less than a year after he retired coincided with the entertainment company's attempt to boost investor confidence and profits at its streaming media unit. Traders are placing a 19% bet on the Fed hiking its key benchmark rate by 75 basis points in the December policy meeting, with a peak for rates expected in June. ET, Dow e-minis were down 92 points, or 0.27%, S&P 500 e-minis were down 22 points, or 0.55%, and Nasdaq 100 e-minis were down 86.75 points, or 0.74%. Reporting by Shubham Batra; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

St. Louis Fed President James Bullard said on Thursday the U.S. central bank needed to keep raising interest rates given that its tightening so far "had only limited effects on observed inflation". The comments, coming on the heels of strong retail sales data, dampened hopes of the Fed toning down its hawkish approach following softer-than-expected inflation reports. They are getting more comfortable with a generally higher interest rate regime," said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago. ET, Dow e-minis were up 224 points, or 0.67%, S&P 500 e-minis were up 35.5 points, or 0.9%, and Nasdaq 100 e-minis were up 118.25 points, or 1.01%. Applied Materials Inc (AMAT.O) gained 4.0% after the chip tools maker forecast first-quarter revenue above estimates, on hopes of easing supply chain constraints.

Softer-than-expected inflation data in recent days had boosted expectations of smaller interest rate increases, but strong retail sales figures on Wednesday stoked fears that the Fed could keep tightening the monetary policy further. Several other Fed officials in recent days have also stressed on the need to continue raising interest rates, though at a slower pace. Wall Street closed the previous session lower as a grim outlook from Target Corp (TGT.N) sparked concerns about retailers heading into the crucial holiday season. ET, Dow e-minis were down 384 points, or 1.14%, S&P 500 e-minis were down 52.5 points, or 1.32%, and Nasdaq 100 e-minis were down 177.5 points, or 1.51%. U.S.-listed shares of Alibaba Group Holding Ltd fell 2.1% after the Chinese e-commerce giant posted a smaller-than-expected rise in quarterly revenue.

☆ Futures slip as investors assess mixed economic data
▼ + stars: | 2022-11-17 | by ( ) www.reuters.com time to read: +2 min

SummarySummary Companies Futures off: Dow 0.12%, S&P 0.12%, Nasdaq 0.07%Nov 17 (Reuters) - U.S. stock index futures edged lower on Thursday following mixed economic data this week, while chip designer Nvidia rose after reporting better-than-expected quarterly revenue. Peers Advanced Micro Devices Inc (AMD.O) and Intel Corp (INTC.O) added 1.2% and 0.4%, respectively. "Wall Street was rattled by a conflicting retail picture," said Susannah Streeter, senior investment and markets analyst at Hargreaves Lansdown. This has added to expectations that higher rates will have to linger for a lot longer to make a difference." ET, Dow e-minis were down 41 points, or 0.12%, S&P 500 e-minis were down 4.75 points, or 0.12%, and Nasdaq 100 e-minis were down 8.75 points, or 0.07%.

[1/2] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., November 15, 2022. Despite the sales warning from Target, latest data on U.S. retail sales suggested that consumer spending remained stable and could help to underpin the economy in the fourth quarter. The data showed retail sales rose 1.3% last month after remaining flat in September. Economists polled by Reuters had forecast sales accelerating 1%. ET, Dow e-minis were down 57 points, or 0.17%, S&P 500 e-minis were down 14.25 points, or 0.36%, and Nasdaq 100 e-minis were down 71 points, or 0.6%.

☆ Poland missile relief dents dollar; stocks retreat
▼ + stars: | 2022-11-16 | by ( Amanda Cooper | ) www.reuters.com time to read: +3 min

REUTERS/Dado Ruvic/IllustrationLONDON, Nov 16 (Reuters) - Global stocks eased from two-month highs on Wednesday while the safe-haven dollar fell, after Poland's president said a missile that hit his country was probably a stray Ukrainian defence projectile, dispelling fears that it originated from Russia. Data on Wednesday showed U.S. retail sales rose by 1.3% in October, compared with expectations for a 1.0% rise, showing consumers were undeterred by high inflation last month. This gave a bump to the dollar, which cut some of the day's losses and weighed heavily on European shares. The dollar, which acts a safe haven in times of geopolitical or market turmoil, rallied overnight, before falling throughout the European session. Gold rose 0.2% on the day to $1,776 an ounce, supported by a slightly weaker dollar, while Brent crude futures fell 0.6% to $93.33 a barrel, having retreated from an overnight high of $94.79.

☆ Stocks pare losses, dollar falls after Biden defuses tensions over Poland blast
▼ + stars: | 2022-11-16 | by ( Amanda Cooper | ) www.reuters.com time to read: +3 min

LONDON, Nov 16 (Reuters) - Global stocks pared losses and the dollar fell on Wednesday after U.S. President Joe Biden told G7 and NATO partners that a missile blast in Poland was caused by a Ukrainian defence missile, dispelling fears that it originated from Russia. This is whatever it was, but it was not an attack on Poland and Biden’s comments took the tension out of it," Societe Generale strategist Kit Juckes said. When the missile struck, NATO member Poland first said a Russian-made rocket was responsible and summoned Russia's ambassador to Warsaw for an explanation after Moscow denied it was responsible. Biden said the United States and its NATO allies were investigating the blast but early information suggested it may not have been caused by a missile fired from Russia. With geopolitical tensions injecting some volatility into the broader markets, benchmark 10-year Treasury yields were almost unchanged on the day at 3.807%.

☆ Asian stocks shaken by blast in Poland, dollar gains
▼ + stars: | 2022-11-16 | by ( Xie Yu | ) www.reuters.com time to read: +2 min

HONG KONG, Nov 16 (Reuters) - Asian stocks dropped and the dollar gained on Wednesday after blasts in Poland that Ukraine and Polish authorities said were caused by Russian-made missiles. The potential for a further ratcheting up of geopolitical tensions saw MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) lose 0.6%. Australian shares (.AXJO) fell 0.5%, while Japan's Nikkei stock index (.N225) dropped 0.76%. NATO member Poland said on Wednesday that a Russian-made rocket killed two people in eastern Poland near Ukraine, and it summoned Russia's ambassador to Warsaw for an explanation after Moscow denied it was responsible. read moreThe dollar rose against major peers, led by a 0.3% advance versus the yen .

☆ Futures tick higher as investors await retail sales data, earnings
▼ + stars: | 2022-11-16 | by ( ) www.reuters.com time to read: +2 min

Wall Street ended Tuesday higher despite geopolitical worries, after slower U.S. producer price growth data added to improved inflation outlook for the world's largest economy. Investors awaited key retail sales figures due at 8:30 am ET on Wednesday for further cues on the strength of the U.S. economy. Retailer Walmart Inc (WMT.N) jumped 6.5% in the previous session on lifting its annual sales and profit forecasts, helped by steady demand for groceries despite higher prices. ET, Dow e-minis were up 65 points, or 0.19%, S&P 500 e-minis were up 8 points, or 0.2%, and Nasdaq 100 e-minis were up 20.25 points, or 0.17%. Other megacap growth and technology companies such as Amazon.com (AMZN.O) gained 0.3%, while Apple (AAPL.O) and Alphabet (GOOGL.O) were subdued.

☆ Why corporate leaders like Mark Zuckerberg, Jack Dorsey, and Evan Spiegel are all apologizing for the massive layoffs at their companies
▼ + stars: | 2022-11-15 | by ( Sarah Belle Lin | ) www.businessinsider.com time to read: +10 min

Since the pandemic, the largest tech layoffs have been at Meta, Getir, Booking.com, Twitter, Uber, Better.com., Peloton, and Groupon, Layoffs.fyi data show. Now companies in tech are reversing some of the huge hiring that they did in the past couple of years, Lee said. Mark Zuckerberg, MetaFacebook CEO Mark Zuckerberg speaks about "News Tab" at the Paley Center, in New York on October 25, 2019. In the memo he wrote: "Many people predicted this would be a permanent acceleration that would continue even after the pandemic ended. Jack Dorsey, ex-CEO TwitterTwitter CEO Jack Dorsey testifies before the House Energy and Commerce Committee in Washington, DC, in 2018.

☆ Futures rise on U.S.-China talks, inflation data in focus
▼ + stars: | 2022-11-15 | by ( ) www.reuters.com time to read: +2 min

U.S.-listed shares of Chinese firms Alibaba Group Holding Ltd , Baidu Inc , Pinduoduo Inc (PDD.O) and JD.Com Inc climbed between 5.7% and 11.2%. Biden and Xi agreed to allow senior officials to renew communication on climate, debt relief and other issues, according to the White House. ET, which is expected to show producer prices rose 8.3% annually in October after advancing 8.5% in September, according to a Reuters poll of economists. Excluding volatile food and energy costs, the producer prices index is expected to have increased 7.2% last month, in line with September's gains. ET, Dow e-minis were up 156 points, or 0.46%, S&P 500 e-minis were up 30.5 points, or 0.77%, and Nasdaq 100 e-minis were up 143.5 points, or 1.22%.

The comments follow a softer-than-expected inflation report last week, which had buoyed hopes that price pressures were easing and the Fed could scale back its hefty interest rate hikes. "The market is expecting the Fed to continue its hawkish rhetoric on rates," said Peter Cardillo, chief market economist at Spartan Capital Securities. Once they (Fed) raise rates at 50 (bps), there's a possibility that they might indicate slower rates." Traders now expect the Fed to hike interest rates in December by a half point, and expect terminal rate in the range of 4.75%-5.0% next year. ET, Dow e-minis were down 50 points, or 0.15%, S&P 500 e-minis were down 11.5 points, or 0.29%, and Nasdaq 100 e-minis were down 62 points, or 0.52%.

☆ Shares and bonds chastened as Fed, ECB urge care
▼ + stars: | 2022-11-14 | by ( Lawrence White | ) www.reuters.com time to read: +5 min

Meanwhile dovish comments from European Central Bank policymaker Fabio Panetta saw European bond yields ease, but short-dated rates remained within striking distance of multi-year highs. Panetta said the ECB needs to avoid overtightening as that could destroy productive capacity and deepen a recession. The benchmark European STOXX index rose 0.26% (.STOXX), and MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) added 0.6%, after jumping 7.7% last week. The dollar index was last seen on Monday at 106.86, still well short of last week's 111.280 top , while the euro eased a touch to $1.032 , after climbing 3.9% last week. The firming dollar also dragged down oil prices, despite the hopes of a demand boost from China's hints at reopening.

☆ Futures decline on cautious Fed tone on inflation
▼ + stars: | 2022-11-14 | by ( ) www.reuters.com time to read: +2 min

SummarySummary Companies Futures down: Dow 0.24%, S&P 0.35%, Nasdaq 0.60%Nov 14 (Reuters) - U.S. stock index futures edged lower on Monday as hawkish comments from a U.S. Federal Reserve official tempered hopes of a less aggressive pace of monetary policy tightening. Traders now expect the Fed to hike interest rates in December by a half point, and expect terminal rate in the range of 4.75%-5.0% in May 2023. ET, Dow e-minis were down 82 points, or 0.24%, S&P 500 e-minis were down 14 points, or 0.35%, and Nasdaq 100 e-minis were down 71.5 points, or 0.60%. read moreIn the week ahead, investors will closely monitor a slew of economic data, including retail sales numbers on Wednesday. Reporting by Shubham Batra, Bansari Mayur Kamdar in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

[1/2] Raindrops hang on a sign for Wall Street outside the New York Stock Exchange in Manhattan in New York City, New York, U.S., October 26, 2020. "At best it reduced the likelihood of a three-quarter point rate hike in December and brought it down to a half-point hike. ET, Dow e-minis were up 148 points, or 0.44%, S&P 500 e-minis were up 19 points, or 0.48%, and Nasdaq 100 e-minis were up 69 points, or 0.59%. Shares of megacap companies extended gains in premarket trading, with Alphabet Inc (GOOGL.O) up 0.8% after a near 9% surge in the previous session. Reporting by Shubham Batra, Sruthi Shankar and Devik Jain in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

☆ Futures point to fresh gains on Wall Street
▼ + stars: | 2022-11-11 | by ( ) www.reuters.com time to read: +2 min

[1/2] Raindrops hang on a sign for Wall Street outside the New York Stock Exchange in Manhattan in New York City, New York, U.S., October 26, 2020. The S&P 500 has now rallied over 10% from its mid-October closing lows, while the Nasdaq has climbed nearly 8%, aided by better-than-expected earnings reports and hopes of a Fed slowdown. ET, Dow e-minis were up 130 points, or 0.39%, S&P 500 e-minis were up 16.25 points, or 0.41%, and Nasdaq 100 e-minis were up 66 points, or 0.57%. Shares of megacap companies extended gains in premarket trading, with Apple Inc (AAPL.O) up 0.5% after a near 9% surge in the previous session. Reporting by Shubham Batra and Sruthi Shankar in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

Every line of the report shows sequential improvement," said Art Hogan, chief market strategist at B. Riley Financial. The report prompted traders to adjust their rate hike bets, with bets of a 50-basis point rate hike in December jumping to more than 70% from 45% before the data was released. Following last week's Fed policy meeting, some U.S. central bank officials have made comments that pointed to slower rate rises over coming meetings. The Fed's policy rate is currently in a range of 3.75%-4.00%. The CBOE volatility index (.VIX), also known as Wall Street's fear gauge, fell to a near two-month low of 23.94.points.

☆ Futures rise as focus shifts to inflation data
▼ + stars: | 2022-11-10 | by ( ) www.reuters.com time to read: +2 min

SummarySummary Companies Futures up: Dow 0.09%, S&P 0.17%, Nasdaq 0.31%Nov 10 (Reuters) - U.S. stock index futures inched higher on Thursday as investor focus turned to October inflation data for clues on the path of future interest rate hikes. Traders are split on whether a 50 basis points or 75 basis points rate hike by the Fed is likely in December. ET, Dow e-minis were up 29 points, or 0.09%, S&P 500 e-minis were up 6.5 points, or 0.17%, and Nasdaq 100 e-minis were up 33.25 points, or 0.31%. The CBOE volatility index (.VIX), also known as Wall Street's fear gauge, rose to 26.56 points, and was close to a weekly high. Reporting by Shubham Batra and Bansari Mayur Kamdar in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

The market can accept gridlock," said Quincy Krosby, chief global strategist at LPL Financial in Charlotte, North Carolina. S&P 500 has risen in every 12-month period following the U.S. midterm elections over the past 70 yearsAt 6:21 a.m. ET, Dow e-minis were down 67 points, or 0.2%, S&P 500 e-minis were down 2 points, or 0.05%, and Nasdaq 100 e-minis were up 8.5 points, or 0.08%. Meanwhile, some market participants expect October U.S. inflation data due on Thursday to be more market-moving. read moreReporting by Medha Singh and Bansari Mayur Kamdar in Bengaluru; Editing by Savio D'Souza and Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.

Summary Futures up: Dow 0.02%, S&P 0.15%, Nasdaq 0.41%Nov 9 (Reuters) - U.S. stock index futures inched higher on Wednesday as results from midterm elections rolled in, with investors bracing for a political gridlock in Washington that would make it harder for drastic policy changes to come through. "You're in a slightly different situation and it does look like the Biden Presidency has not been dealt a massive blow by these midterm elections, so the markets are in a wait-and-see mode." The S&P 500 has posted a gain in each 12-month period after the midterm vote since World War Two, according to Deutsche Bank. S&P 500 has risen in every 12-month period following the U.S. midterm elections over the past 70 yearsAt 3:07 a.m. ET, Dow e-minis were up 7 points, or 0.02%, S&P 500 e-minis were up 5 points or 0.13%, and Nasdaq 100 e-minis were up 45.75 points, or 0.41%.

☆ Futures edge higher with focus on midterm elections
▼ + stars: | 2022-11-08 | by ( ) www.reuters.com time to read: +2 min

With Democrat Joe Biden in the White House, that potential result would lead to a split government. Control of even one chamber of Congress would give Republicans the power to bring Biden's legislative agenda to a halt and demand deep spending cuts. "The question for many is whether investors will respond positively to the deadlock in Washington," said Craig Erlam, senior market analyst at Oanda. Traders are currently betting on 63% odds of a 50-basis point hike at the Fed's next meeting in December. ET, Dow e-minis were up 64 points, or 0.19%, S&P 500 e-minis were up 8.25 points, or 0.22%, and Nasdaq 100 e-minis were up 49.75 points, or 0.45%.

Search resuls for: "Minis"

25 mentions found