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☆ BMW to move production of electric minis from UK to China -The Times
▼ + stars: | 2022-10-14 | by ( ) www.reuters.com time to read: 1 min

Oct 14 (Reuters) - Automaker BMW (BMWG.DE) is set to move production of its electric minis from the United Kingdom to China, The Times reported on Friday. The company denied the Times report on moving production to China from the UK. BMW makes 40,000 electric Minis a year at its Cowley factory on the outskirts of Oxford and plans to end the production by next year end, the report added. Register now for FREE unlimited access to Reuters.com RegisterReporting by Urvi Dugar in Bengaluru Editing by Chris ReeseOur Standards: The Thomson Reuters Trust Principles.

☆ Futures tick down ahead of big bank earnings, retail sales data
▼ + stars: | 2022-10-14 | by ( Bansari Mayur Kamdar | ) www.reuters.com time to read: +3 min

The lenders are set to report their earnings later in the day. "The size of these provisions will be the clearest indication of the scope of the consumer crisis that's expected in the coming quarter." ET, Dow e-minis were down 49 points, or 0.16%, S&P 500 e-minis were down 7.25 points, or 0.2%, and Nasdaq 100 e-minis were down 39.5 points, or 0.36%. Apart from banks' earnings, U.S. retail sales data at 8:30 am ET is also on investors' radar to get clues on demand as the Federal Reserve aggressively raises rates to fight inflation. However, by close, Wall Street dramatically rebounded from the selloff, advancing over 2% helped by technical support and investors covering short bets.

The headline consumer price index gained at an annual pace of 8.2% in September, compared with an estimated 8.1%. Core CPI, which eliminates volatile food and fuel prices, gained 6.6% last month, compared with the estimates of a 6.5% increase. Register now for FREE unlimited access to Reuters.com Register"It's saying that inflation is still not under control. The Fed will most likely continue its pace of rate increases," said Robert Pavlik, senior portfolio manager, Dakota Wealth in Fairfield, Connecticut. FEDWATCHThe report follows data on Wednesday that showed U.S. producer prices increased more than expected in September amid strong gains in the costs of services and goods, suggesting inflation could remain uncomfortably high for a while.

The Labor Department's consumer prices index (CPI) report, due at 8:30 am ET, will likely show headline CPI to have gained at an annual pace of 8.1% in September, lower than an 8.3% increase in August, according to a Reuters poll. However, the core CPI, which eliminates volatile food and fuel prices, is estimated to have risen 6.5% last month, up from a 6.3% rise in August. The report follows data on Wednesday that showed U.S. producer prices increased more than expected in September amid strong gains in the costs of services and goods, suggesting inflation could remain uncomfortably high for a while. ET, Dow e-minis were up 152 points, or 0.52%, S&P 500 e-minis were up 20.25 points, or 0.56%, and Nasdaq 100 e-minis were up 35.25 points, or 0.33%. Also on tap is a report that is expected to show 225,000 Americans filed for unemployment benefits last week, up from 219,000 in the week prior to that.

☆ Futures jittery ahead of U.S. CPI data
▼ + stars: | 2022-10-13 | by ( ) www.reuters.com time to read: +2 min

Consumer prices data due at 8:30 am ET will be closely watched for clues on how the central bank will proceed with its monetary policy tightening. The headline CPI is expected to have gained at an annual pace of 8.1% in September, decelerating from August's 8.3% rise, according to a Reuters poll. ET, Dow e-minis were up 86 points, or 0.29%, S&P 500 e-minis were up 9.25 points, or 0.26%, and Nasdaq 100 e-minis were up 12 points, or 0.11%. Investors also awaited quarterly earnings reports from BlackRock (BLK.N), Domino's Pizza (DPZ.N), Walgreens Boots Alliance and Delta Air Lines (DAL.N). read moreRegister now for FREE unlimited access to Reuters.com RegisterReporting by Bansari Mayur Kamdar in Bengaluru; Editing by Saumyadeb ChakrabartyOur Standards: The Thomson Reuters Trust Principles.

The Labor Department's producer prices index rose 8.5% in the 12 months through September, slightly higher than an estimated 8.4% rise. Register now for FREE unlimited access to Reuters.com Register"It is not going to be that way. That's what the Fed has been looking at and that's why they're raising rates the way they are. Persistent inflation has sparked worries about the Fed's aggressive monetary action tipping the world's largest economy into a recession. ET, Dow e-minis were up 46 points, or 0.16%, S&P 500 e-minis were up 10.25 points, or 0.28%, and Nasdaq 100 e-minis were up 41.25 points, or 0.38%.

The bounce follows five straight days of declines in the Nasdaq (.IXIC) and the benchmark S&P 500 (.SPX) as recent economic data nearly sealed a case for a fourth consecutive 75-basis-point hike by the Fed. The Labor Department's producer prices index data due at 8:30 a.m. ET is expected to have risen 8.4% in the 12 months through September, after advancing 8.7% in August. Register now for FREE unlimited access to Reuters.com RegisterStubborn inflation has sparked worries about the Fed's aggressive monetary action tipping the world's largest economy into a recession. ET, Dow e-minis were up 118 points, or 0.4%, S&P 500 e-minis were up 20.5 points, or 0.57%, and Nasdaq 100 e-minis were up 85.25 points, or 0.79%.

☆ Wall St futures rise with focus on inflation data, Fed minutes
▼ + stars: | 2022-10-12 | by ( ) www.reuters.com time to read: +2 min

The producer price index, an important inflation gauge, is expected to have risen 8.4% in the 12 months through September, after advancing 8.7% in August, according a Reuters poll. Register now for FREE unlimited access to Reuters.com RegisterMinutes from the Federal Open Market Committee meeting, which was held last month, will be released later in the day. Megacap companies Tesla Inc (TSLA.O) and Apple Inc (AAPL.O) added 0.8% each in premarket trading. ET, Dow e-minis were up 165 points, or 0.56%, S&P 500 e-minis were up 23.75 points, or 0.66%, and Nasdaq 100 e-minis were up 89.25 points, or 0.82%. Register now for FREE unlimited access to Reuters.com RegisterReporting by Bansari Mayur Kamdar in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

The three main indexes have been on a loss-making streak in the past few sessions as recent data continues to point to more policy tightening by the U.S. Federal Reserve that could tip the economy into a recession. With recent economic indicators signaling persistent inflation going forward, money markets are pricing in a 92% chance of another 75-basis-point hike at the Fed's meeting in November. read moreMajor U.S. banks are set to report third-quarter results on Friday that may offer insight into the health of the U.S. economy. ET, Dow e-minis were up 6 points, or 0.02%, S&P 500 e-minis were down 2.25 points, or 0.06%, and Nasdaq 100 e-minis were down 10.25 points, or 0.09%. Amgen Inc (AMGN.O) shares jumped nearly 3% after a report said Morgan Stanley upgraded the drugmaker's stock to "overweight" from "equal weight".

☆ Futures slide over rising economic worries; tech stocks fall
▼ + stars: | 2022-10-11 | by ( Ankika Biswas | ) www.reuters.com time to read: +2 min

Register now for FREE unlimited access to Reuters.com RegisterThe yield on the benchmark 10-year U.S. Treasury note was up on Tuesday, hitting a day's high of 4.006%. With recent economic indicators signaling persistent inflation going forward, money markets are pricing in a 92% chance of another 75-basis-point hike at the Fed's meeting in November. Belarus said on Tuesday that its forces had grouped with Russian troops on its borders as a defensive measure, further aggravating a spiraling war. ET, Dow e-minis were down 269 points, or 0.92%, S&P 500 e-minis were down 36.75 points, or 1.01%, and Nasdaq 100 e-minis were down 111.75 points, or 1.02%. Register now for FREE unlimited access to Reuters.com RegisterReporting by Ankika Biswas; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

☆ New & Notable: Latest releases from Our Place and Breville
▼ + stars: | 2022-10-01 | by ( Christina Colizza | Christina Colizza Is An Editor For Select On Nbc News. | ) www.nbcnews.com time to read: +7 min

This story is part of Select's New & Notable column, where we highlight our favorite product launches, major sales, what we're buying and some of our latest recommendations and advice. New this weekOur Place, the creator of the much-loved Always Pan, is expanding its kitchenware offerings to include a new ceramic tableware set. If you’re a small-apartment dweller, or just a tiny-kitchen owner, Caraway’s new mini cookware set could be for you. Christina ColizzaI didn’t technically buy the Ooni Koda pizza oven for myself, but I plan to benefit from it. But they have been a godsend: [The lids] click into place so easily, and a single lemon lasts me weeks now.

The Dow and S&P 500 e-minis fell for the seventh time in eight sessions, while megacap growth names such as Amazon.com Inc , Apple Inc (AAPL.O), Microsoft Corp , Meta Platforms Inc and Tesla Inc (TSLA.O) lost between 1.6% and 2.7% in premarket trading. read moreIn the previous session, the S&P 500 recorded its first gain in seven sessions. The benchmark index has lost about $9.1 trillion in market value this year and was last valued at $31.2 trillion, according to Datastream. ET, Dow e-minis were down 364 points, or 1.22%, S&P 500 e-minis were down 55 points, or 1.47%, and Nasdaq 100 e-minis were down 207.75 points, or 1.8%. read moreShare of peers United Airlines Holdings (UAL.O), Southwest Airlines (LUV.N) and Delta Air Lines (DAL.N) fell between 1.6% and 2.0%.

☆ Wall Street futures resume fall as economic worries weigh
▼ + stars: | 2022-09-29 | by ( ) www.reuters.com time to read: +2 min

Megacap growth names such as Amazon.com Inc , Apple Inc (AAPL.O), Microsoft Corp , Meta Platforms Inc and Tesla Inc (TSLA.O) lost between 0.8% and 1.6% in premarket trading. ET, Dow e-minis were down 225 points, or 0.76%, S&P 500 e-minis were down 31.25 points, or 0.84%, and Nasdaq 100 e-minis were down 117.75 points, or 1.02%. Investors will be watching for weekly jobless claims, which is expected to rise by 2,000 to 215,000 last week. A second estimate of the government last month had shown the economy contracted at 0.6%, a more moderate pace than initially thought. Register now for FREE unlimited access to Reuters.com RegisterReporting by Susan Mathew in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

The benchmark S&P 500 index (.SPX) has since relinquished the last of its gains made in a summer rally. ET, Dow e-minis were up 333 points, or 1.13%, S&P 500 e-minis were up 52.25 points, or 1.42%, and Nasdaq 100 e-minis were up 189.25 points, or 1.67%. Concerns about corporate profits coming under pressure from soaring prices, an economic downturn and higher interest rates have roiled Wall Street in the past two weeks. Analysts have cut their S&P 500 earnings estimates for the third and fourth quarters, and for all of 2022. For the third quarter, overall S&P 500 earnings are seen rising just 4.6% year-over-year, compared with the 11.1% growth expected at the start of July.

☆ Futures bounce off Wall Street's 2022 lows
▼ + stars: | 2022-09-27 | by ( ) www.reuters.com time to read: +2 min

Register now for FREE unlimited access to Reuters.com RegisterTraders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 26, 2022. ET, Dow e-minis were up 261 points, or 0.89%, S&P 500 e-minis were up 41 points, or 1.12%, and Nasdaq 100 e-minis were up 145 points, or 1.28%. Oil stocks rose on the back of a sharp recovery in crude prices, with Exxon (XOM.N) and Chevron (CVX.N) up nearly 2% each. Later in the day, investors will be watching for August durable goods orders as well as consumer confidence for the month. Register now for FREE unlimited access to Reuters.com RegisterReporting by Susan Mathew in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

☆ Wall Street eyes lower open on rate hike, recession worries
▼ + stars: | 2022-09-26 | by ( Shreyashi Sanyal | ) www.reuters.com time to read: +3 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 7, 2022. ET, Dow e-minis were down 139 points, or 0.47%, S&P 500 e-minis were down 21 points, or 0.57%, and Nasdaq 100 e-minis were down 51 points, or 0.45%. In premarket trading on Monday, cyclical stocks traded lower on worries that such sharp rate hikes could rattle the economy. The CBOE Volatility index (.VIX), also commonly known as Wall Street's fear gauge, hovered near three month highs. Register now for FREE unlimited access to Reuters.com RegisterReporting by Shreyashi Sanyal and Ankika Biswas in Bengaluru; Editing by Anil D'Silva and Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

☆ Futures shackled by rate-hike, recession worries
▼ + stars: | 2022-09-26 | by ( ) www.reuters.com time to read: +2 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 7, 2022. REUTERS/Brendan McDermidSummarySummary Companies Futures down: Dow 0.76%, S&P 0.75%, Nasdaq 0.47%Sept 26 (Reuters) - U.S. stock index futures fell on Monday, kicking off another week on softer footing, as investors worried that the Federal Reserve's aggressive push to curb inflation may tip the American economy into recession. ET, Dow e-minis were down 225 points, or 0.76%, S&P 500 e-minis were down 27.75 points, or 0.75%, and Nasdaq 100 e-minis were down 54 points, or 0.47%. "As the SPX tests its June lows, the question becomes is that alone good enough reason to buy?" "Given the acceleration higher in the dollar, global yields, and the breakdowns across global FX, it's hard to not have concerns about longer-term implications."

Earlier this summer, Snap executives told managers they should put at least 10% of their teams on performance improvement plans. In a few weeks, Snap employees have gone from feeling relatively stable to joking that they now work at "Snapazon," a reference to the sometimes grueling, metric-heavy approach of Amazon. Snap is chopping the Snap Pixy mini drone, its accelerator program, Snap Originals, Snap Minis and its Games vertical. Other Snap workers expressed similar doubts about the company's acquisition strategy. AR likely will not be a major success story, despite Snap's leadership in the area.

A trader works on the trading floor at the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S., September 13, 2022. Goldman Sachs cut its year-end 2022 target for the benchmark S&P 500 index (.SPX) by about 16% to 3,600 points, a 4.2% decline from current levels. read moreThe CBOE volatility index (.VIX), also known as Wall Street's fear gauge, rose to 28.72 points. Meanwhile, Fed Chair Jerome Powell is set to give opening remarks on the transition to the post-pandemic economy at an event at 2 p.m. On the data front, investors will closely monitor flash reading on business activity data from S&P Global at 09:45 am ET.

☆ Futures steady after Fed-driven selloff
▼ + stars: | 2022-09-22 | by ( ) www.reuters.com time to read: +2 min

A Wall St. street sign is seen near the New York Stock Exchange (NYSE) in New York City, U.S., September 17, 2019. The three main indexes finished more than 1.7% down on Wednesday, with the Dow (.DJI) posting its lowest close since June 17. The Nasdaq (.IXIC) and S&P 500 (.SPX), respectively, ended at their lowest point since July 1 and June 30. Worries about the impact of aggressive interest rate hikes on the economy and corporate profits have left the benchmark S&P 500 less that 4% away from its mid-June low, its weakest point of the year. ET, Dow e-minis were up 147 points, or 0.49%, S&P 500 e-minis were up 17.25 points, or 0.45%, and Nasdaq 100 e-minis were up 48.75 points, or 0.42%.

☆ Futures flat as investors gird for another big rate hike
▼ + stars: | 2022-09-21 | by ( ) www.reuters.com time to read: +2 min

Register now for FREE unlimited access to Reuters.com RegisterA trader works on the trading floor at the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S., September 13, 2022. REUTERS/Andrew KellySummarySummary Companies Futures: Dow, S&P flat, Nasdaq down 0.11%Sept 21 (Reuters) - U.S. stock index futures paused on Wednesday as investors braced for a hefty interest rate hike from the Federal Reserve for a third straight time. The focus will be on economic projections, which is expected to offer insight into how aggressively policymakers feel interest rates must rise to tame stubbornly high prices. ET, Dow e-minis were up 10 points, or 0.03%, S&P 500 e-minis were up 0.5 points, or 0.01%, and Nasdaq 100 e-minis were down 12.75 points, or 0.11%. read moreRegister now for FREE unlimited access to Reuters.com RegisterReporting by Medha Singh in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

☆ Futures fall as focus turns to Fed
▼ + stars: | 2022-09-20 | by ( ) www.reuters.com time to read: +2 min

Traders work on the trading floor at the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S., September 13, 2022. Register now for FREE unlimited access to Reuters.com Register"The fundamental environment has hardly changed." Focus will also be on the updated economic projections and dot plot estimates for cues on policymakers' sense of the endpoint for rates and the outlooks for unemployment, inflation, and economic growth. ET, Dow e-minis were down 139 points, or 0.45%, S&P 500 e-minis were down 19.75 points, or 0.5%, and Nasdaq 100 e-minis were down 70.5 points, or 0.59%. read moreRegister now for FREE unlimited access to Reuters.com RegisterReporting by Devik Jain in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

☆ Stocks muted, Sweden kicks off salvo of central bank hikes
▼ + stars: | 2022-09-20 | by ( Huw Jones | ) www.reuters.com time to read: +5 min

The MSCI all country stock index (.MIWD00000PUS) was 0.2% ahead, leaving it down about 20% from a lifetime high in January. Sweden's central bank hiked rates by a greater than expected full percentage point on Tuesday and warned of more to come. read moreLuca Paolini, chief strategist at Pictet Asset Management, said the U.S. central bank would likely ease the pace of hikes going into next year. "The market, in a way, is probably expecting a peak in rates," Paolini said, adding that market focus would then switch to how higher rates were affecting economies and company earnings. Terminal rate projection also leapsCONTRARIAN CHINAChina's central bank kept its benchmark lending rates unchanged at a monthly fixing on Tuesday, as expected.

☆ Asia shares gain ground, hefty Fed rate hike seen priced in
▼ + stars: | 2022-09-20 | by ( Julie Zhu | ) www.reuters.com time to read: +4 min

Even more so than the Ukraine war or corporate earnings, the actions of the U.S. central bank are driving market sentiment as traders position themselves for a rising interest rate environment. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was up 1.2 % while Australian shares (.AXJO) climbed 1.2%. Markets are priced for rates to climb as high as 4.5% by early 2023, compared with the Fed's current 2.25%-2.5% policy rate range. It is not just in the United States that interest rate rises are expected. read moreChina's central bank went its own way though, cutting on Monday a repo rate by 10 basis points to support its ailing economy.

☆ Asia shares track late Wall Street rebound with focus firmly on Fed
▼ + stars: | 2022-09-20 | by ( Julie Zhu | ) www.reuters.com time to read: +3 min

Even more so than the Ukraine war or corporate earnings, the actions of the U.S. central bank are driving market sentiment as traders try to position themselves for a rising interest rate environment. On Monday, Wall Street's main indexes closed higher after seesawing during the session as investors wait to see how aggressively the Fed will hike interest rate hikes at this week's policy meeting. Markets are priced for rates to climb as high as 4.5% by early 2023, compared with the Fed's current 2.25%-2.5% policy rate range. The two-year yield , a barometer of future inflation expectations, touched 3.9528% after climbing to a fresh almost 15-year high of 3.970%. It is not just in the United States that interest rate rises are expected.

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