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☆ Futures muted as bond yields rise on rate jitters
▼ + stars: | 2023-06-08 | by ( ) www.reuters.com time to read: +3 min

SummarySummary Companies Futures up: Dow 0.01%, S&P 0.06%, Nasdaq 0.09%June 8 (Reuters) - U.S. stock index futures were largely flat on Thursday as government bond yields hovered near recent highs on worries that major central banks could keep raising interest rates. The benchmark S&P 500 (.SPX) and the tech-heavy Nasdaq (.IXIC) closed lower on Wednesday, with megacap stocks leading declines as U.S. bond yields rose after the Bank of Canada (BoC) surprised markets with an interest rate hike. The 2-year Treasury yield , which tends to move in step with short-term rate expectations, rose for a third day to 4.56%, as investors await the Federal Reserve meet next week. Eventually we don't think the Fed will hike in July," Jefferies strategist Mohit Kumar said. They see a 50% chance of a rate hike in July.

Persons: Jefferies, Mohit Kumar, Russell, Thierry Breton, Ryan Cohen, Zhu Jiang, Sruthi Shankar, Vinay Dwivedi Organizations: Dow, Nasdaq, Bank of Canada, BoC, Microsoft Corp, Apple Inc, Amazon.com Inc, Treasury, Reserve, Traders, U.S . Labor Department, Dow e, Meta, Inc, GameStop Corp, Thomson Locations: U.S, KBW, China, Bengaluru

Traders have priced in a 73% chance of the U.S. central bank holding interest rates at the current 5%-5.25% range during its monetary policy meeting on June 13-14, according to CMEGroup's Fedwatch tool. "Today's data in terms of higher claims shows that the Fed policy is having a clear effect," said David Russell, vice president of Market Intelligence at TradeStation. The CBOE Volatility index (.VIX), also known as Wall Street's fear gauge, dropped to a fresh pre-pandemic low of 13.73. The U.S. Labor Department is due to release inflation data on June 13, the first day of the Fed meeting. The S&P index recorded six new 52-week highs and two new lows, while the Nasdaq recorded 38 new highs and 29 new lows.

Persons: David Russell, Wells, Ryan Cohen, Piper Sandler, Zhu Jiang, Sruthi Shankar, Shristi, Vinay Dwivedi Organizations: GameStop, Dow, Nasdaq, Treasury, Traders, Market Intelligence, Fed, Nvidia Corp, Apple Inc, Tesla Inc, GameStop Corp, U.S . Labor Department, Bank of Canada, BoC, Dow Jones, Adobe, Lucid, NYSE, Thomson Locations: Wells, U.S, Wells Fargo, China, Bengaluru

☆ Gold trades in tight range as investors await Fed decision
▼ + stars: | 2023-06-07 | by ( ) www.cnbc.com time to read: +2 min

Bars of gold are seen at the Krastsvetmet company, one of the world's largest producers of precious metals in Moscow, Russia on January 31, 2023. Gold prices inched higher on Wednesday, trading in a tight range as support from a weaker dollar countered concerns surrounding the U.S. Federal Reserve's next interest rate decision. Spot gold rose 0.1% to $1,963.86 per ounce by 0220 GMT. Non-interest-bearing bullion tends to become less attractive in a high interest rate environment. Fed fund futures indicate traders have priced in an 80.6% chance that the Fed will hold interest rates in the 5%-5.25% range, according to CMEGroup's Fedwatch tool.

Persons: Ilya Spivak Organizations: U.S . Federal, New York Fed, Fed Locations: Moscow, Russia, U.S ., Asia, Pacific

SummarySummary Companies For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window. The S&P 500 is up almost 20% from its October 2022 lows, boosted by gains in megacap stocks, a stronger-than-expected earnings season and hopes that the U.S. central bank is nearing the end of its interest rate-hike cycle. Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., May 30, 2023. Financials (.SPSY) led gains among the 11 major S&P 500 sectors, while the KBW regional banking index (.KRX) was firmly in the green. Recent economic data and dovish remarks from Fed officials have raised the odds of the Fed holding interest rates at its June 13-14 meeting.

Persons: Piper Sandler, Jack Ablin, Brendan McDermid, Russell, Coinbase, Sruthi Shankar, Shristi, Vinay Dwivedi, Deepa Babington Organizations: U.S, SEC, Dow Jones, Nasdaq, New York Stock Exchange, REUTERS, U.S . Securities, Exchange Commission, Devices, Thomson Locations: megacap, U.S, New York City, Bengaluru

☆ Futures slip as mixed data clouds Fed policy outlook
▼ + stars: | 2023-06-06 | by ( ) www.reuters.com time to read: +2 min

SummarySummary Companies Futures down: Dow 0.14%, S&P 0.09%, Nasdaq 0.03%June 6 (Reuters) - Wall Street futures slipped on Tuesday as investors assessed chances of the Federal Reserve holding interest rate at its meeting next week, with mixed data adding to uncertainty around the policy outlook. While that signaled the Fed's monetary tightening was cooling the world's largest economy, it comes close on the heels of strong jobs data last week, clouding the outlook for the Fed's policy path. Investors are now focused on inflation data due next week ahead of the Fed meet. Consumer prices are likely to have cooled slightly on a month-over-month basis in May but core prices are expected to have remained sticky. Fed fund futures imply traders have priced in a 76% chance that the Fed will hold interest rates in the 5%-5.25% range, according to CMEGroup's Fedwatch tool.

Persons: Piper Sandler, Sruthi Shankar, Vinay Dwivedi Organizations: Dow, Nasdaq, Wall, Federal Reserve, Fed, Dow e, Apple Inc, Meta, Devices, Exxon Mobil, Chevron, Thomson Locations: U.S, megacap, Bengaluru

June 6 (Reuters) - Wall Street's main indexes slipped on Tuesday as investors assessed odds of an interest rate pause by the Federal Reserve at its policy meeting next week, with mixed economic data adding to uncertainty around the rate path. While that signaled the Fed's monetary tightening was cooling the world's largest economy, it followed strong monthly jobs data last week, clouding the outlook for the Fed's policy. "The market is on pause now until we get to the Fed meeting and the inflation data." Advancing issues outnumbered decliners by a 1.50-to-1 ratio on the NYSE and by a 1.24-to-1 ratio on the Nasdaq. Reporting by Sruthi Shankar and Shristi Achar A in Bengaluru Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

Persons: Paul Nolte, Piper Sandler, Sruthi Shankar, Shristi, Vinay Dwivedi Organizations: Devices, Piper, Dow, Nasdaq, Federal Reserve, Murphy, Fed, Dow Jones, U.S . Securities, Exchange Commission, Apple Inc, Meta, Exxon Mobil, Chevron, NYSE, Thomson Locations: U.S, megacap, Bengaluru

SummarySummary Companies Microsoft up as quarterly results top estimatesAlphabet gains on buyback plans, ad sales beatActivision Blizzard down as UK blocks Microsoft dealIndexes: Dow slips 0.01%, S&P up 0.30%, Nasdaq climbs 1.23%April 26 (Reuters) - The tech-heavy Nasdaq advanced on Wednesday as strong results from Microsoft and Alphabet offset concerns over rising interest rates and their effect on the U.S. economy. Earnings forecasts have improved, with analysts expecting a 3.2% contraction in first-quarter profit for S&P 500 companies compared with a 5.2% decline estimated at the start of the earnings season. Of the 163 S&P 500 companies that reported first-quarter profit through Wednesday, 79.8% topped analysts' expectations, as per Refinitiv IBES data. PacWest Bancorp (PACW.O) gained 14.2% as the regional lender beat estimates for first-quarter profit and managed to stabilize deposit outflows. The S&P index recorded five new 52-week highs and seven new lows, while the Nasdaq recorded 42 new highs and 300 new lows.

Microsoft Corp (MSFT.O) climbed 8.2% in premarket trading after it beat estimates for quarterly results, and said that artificial intelligence products were stimulating sales. Earnings forecasts have improved, with analysts expecting a 3.9% contraction in first-quarter profit for S&P 500 companies compared with a 5.2% decline estimated at the beginning of the earnings season. Of the 124 S&P 500 companies that reported first-quarter profit through Tuesday, 79% topped analysts' expectations, as per Refinitiv IBES data. Meta Platforms Inc (META.O) is scheduled to report results after market close on Wednesday. ET, Dow e-minis were up 62 points, or 0.18%, S&P 500 e-minis were up 11.5 points, or 0.28%, and Nasdaq 100 e-minis were up 139.75 points, or 1.09%.

☆ Nasdaq futures rally over 1% after upbeat Microsoft, Alphabet results
▼ + stars: | 2023-04-26 | by ( ) www.reuters.com time to read: +3 min

SummarySummary Companies Futures up: Dow 0.10%, S&P 0.43%, Nasdaq 1.25%April 26 (Reuters) - Nasdaq futures rallied more than 1% on Wednesday after upbeat results from Microsoft and Alphabet dwarfed worries about the impact of rising interest rates on the U.S. economy. Microsoft Corp (MSFT.O) climbed 7.5% after it beat Wall Street estimates for quarterly results, and said that artificial intelligence products were stimulating sales. Of the 124 S&P 500 companies that reported first-quarter profit through Tuesday, 79% topped analysts' expectations, as per Refinitiv IBES data. ET, Dow e-minis were up 33 points, or 0.1%, S&P 500 e-minis were up 17.5 points, or 0.43%, and Nasdaq 100 e-minis were up 160.75 points, or 1.25%. PacWest Bancorp (PACW.O) rallied 17.4% as the regional lender beat estimates for first-quarter profit as it managed to stabilize deposit outflows.

SummarySummary Companies Microsoft up as quarterly results top forecastsCloud firms gain on Microsoft earnings cheerActivision Blizzard down as UK blocks Microsoft dealIndexes: Dow off 0.02%, S&P up 0.16%, Nasdaq climbs 1%April 26 (Reuters) - The tech-heavy Nasdaq advanced on Wednesday as strong Microsoft results offset concerns over rising interest rates and their effect on the U.S. economy, while an upbeat forecast from Boeing further boosted sentiment. Earnings forecasts have improved, with analysts expecting a 3.9% contraction in first-quarter profit for S&P 500 companies compared with a 5.2% decline estimated at the beginning of the earnings season. Of the 124 S&P 500 companies that reported first-quarter profit through Tuesday, 79% topped analysts' expectations, as per Refinitiv IBES data. Meta Platforms Inc (META.O) is scheduled to report results after market close on Wednesday. Declining issues outnumbered advancers by a 1.09-to-1 ratio on the NYSE, while advancers outnumbered decliners by a 1.04-to-1 ratio on the Nasdaq.

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