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☆ Wall Street ends mixed at close of earnings-packed week
▼ + stars: | 2023-10-27 | by ( Stephen Culp | ) www.reuters.com time to read: +5 min

The benchmark S&P 500 closed 10.28% below its July 31 closing high. InflationMarket participants are nearing the end of a busy earnings week, during which nearly one-third of the companies in the S&P 500 posted third-quarter results. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsAnalysts now expect aggregate annual S&P earnings growth of 4.3%, a sharp improvement over the 1.6% growth seen at the beginning of the month. Among the 11 major sectors of the S&P 500, energy (.SPNY) suffered the steepest percentage drop. The S&P 500 posted no new 52-week highs and 67 new lows; the Nasdaq Composite recorded 10 new highs and 478 new lows.

Persons: Ross Mayfield, Mayfield, Brendan McDermid, advancers, Stephen Culp, Ankika Biswas, Shashwat Chauhan, Sruthi Shankar, Richard Chang Organizations: Intel, Dow, Nasdaq, Amazon.com, Apple, Dow Jones Industrial, Baird, New York Stock Exchange, REUTERS, Semiconductor, Dow Jones, Chevron, Exxon Mobil, Ford, United Auto Workers union, NYSE, Thomson Locations: Louisville , Kentucky, U.S, New York City, Philadelphia, Bengaluru

☆ GE halves LEAP engine delivery growth target for 2024
▼ + stars: | 2023-10-24 | by ( Rajesh Kumar Singh | ) www.reuters.com time to read: +2 min

In an interview, CEO Larry Culp said the company is aiming for a 20% to 25% year-on-year increase in the engine deliveries in 2024, lower than a revised 40% to 45% annual growth this year. Still, hitting the target will not be easy as it requires quarter-on-quarter improvements in the supply chain, he said. LEAP engines, which GE produces in a joint venture with France's Safran (SAF.PA), power the narrowbody aircraft of Boeing Co (BA.N) and Airbus (AIR.PA). It forced GE to trim the delivery growth target for LEAP engines this year by at least 5 percentage points and push out some of the deliveries into 2024 and 2025. But the demand for both aftermarket services and new engine deliveries is so strong that GE and its suppliers need to do more, Culp said.

Persons: Larry Culp mingles, Alwyn Scott, Larry Culp, France's Safran, delinquencies, Pratt, Culp, airframers, " Culp, Rajesh Kumar Singh, Jonathan Oatis Organizations: Electric Co, REUTERS, Rights, General, Reuters, GE, Boeing Co, Airbus, Boeing, Thomson Locations: Tarrytown , New York, U.S

GE shares were up 6% at $113.14 in pre-market hours. The Boston-based group now expects 2023 adjusted profit per share of $2.55 to $2.65, compared with an earlier forecast of $2.10 to $2.30. "At GE Aerospace, we continue to experience rapid growth driven by robust demand and solid execution, largely in commercial engines and services," CEO Larry Culp said in a statement. GE's aerospace unit, which makes engines for Boeing Co (BA.N) and Airbus (AIR.PA) jets, posted double-digit growth in orders, revenue and profit from a year earlier. Shares of its aerospace unit will continue GE's listing on the New York Stock Exchange under the ticker symbol "GE", the company said.

Persons: Benoit Tessier, Larry Culp, RTX, Pratt, Whitney, Culp, Rajesh Kumar Singh, Sriraj Kalluvila, Jason Neely, Jan Harvey Organizations: Electric, GE, Boeing, Paris, REUTERS, General, GE Aerospace, Boeing Co, Airbus, New York Stock Exchange, AerCap Holdings, Thomson Locations: Le Bourget, Paris, France, Boston, Chicago, Bengaluru

☆ Wall Street notches weekly loss as benchmark US bond yield eases
▼ + stars: | 2023-10-20 | by ( Stephen Culp | ) www.reuters.com time to read: +5 min

[1/4] A street sign for Wall Street hangs in front of the New York Stock Exchange May 8, 2013. While the benchmark yield eased back from that level, it posted its largest weekly surge since April 2022, powered by solid economic data. 10 year Treasury yield and the Fed funds target rateStrong U.S. retail sales in September reinforced ideas that the Fed may need to keep interest rates high for longer, Hainlin said. The yield on U.S. 10-year Treasury notes, the bedrock of the global financial system, pulled back after breaching the 5% level late Thursday. Benchmark 10-year notes last rose 19/32 in price to yield 4.9094%, from 4.988% late on Thursday.

Persons: Lucas Jackson, Ross Mayfield, Mayfield, Jerome Powell, Powell, Tom Hainlin, Hainlin, Sterling, Brent, Stephen Culp, Marc Jones, Rod Nickel, Jonathan Oatis Organizations: New York Stock Exchange, REUTERS, U.S, Federal Reserve, Treasury, Nasdaq, Baird, Federal, Bank Wealth Management, Dow Jones, Japan's Nikkei, Thomson Locations: Louisville , Kentucky, Minneapolis, Israel, Gaza, Asia, Pacific, Japan, London

☆ Wall St ends lower on Powell remarks as benchmark Treasury yields near 5%
▼ + stars: | 2023-10-19 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

Exacerbating worries over higher-for-longer interest rates, benchmark Treasury yields brushed against the 5% level. The pan-European STOXX 600 index (.STOXX) lost 1.19% and MSCI's gauge of stocks across the globe (.MIWD00000PUS) shed 0.95%. Emerging market stocks lost 1.22%. U.S. Treasury yields surged, with the 10-year brushing against the 5% threshold as the Fed's Powell warned that additional monetary policy tightening could be in the cards. The greenback weakened against a basket of world currencies as benchmark Treasury yields crept higher and gold surged.

Persons: Brendan McDermid, Jerome Powell, Sam Stovall, Stovall, spooked, Rishi Sunak, Joe Biden's, Powell, Brent, Gold, Stephen Culp, Amanda Cooper, Bernadette Baum, Leslie Adler, Jonathan Oatis Organizations: New York Stock Exchange, REUTERS, Treasury, U.S, Federal, Research, Tesla Inc, Netflix Inc, British, Hamas, Dow Jones, Nasdaq, Japan's Nikkei, Thomson Locations: New York City, U.S, New York, Israel, Gaza, Asia, Pacific, Japan, London

☆ US stocks end sharply lower, crude jumps on Middle East tensions
▼ + stars: | 2023-10-18 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsNEW YORK, Oct 18 (Reuters) - Wall Street stocks tumbled and crude prices surged on Wednesday as escalating Middle East turmoil prompted a broad sell-off and stoked oil supply concerns. European stocks slid, ending down 1.1% due to deepening fears over the Middle East conflict and as a downbeat forecast for the semiconductor sector weighed on sentiment. Emerging market stocks lost 0.95%. Oil prices advanced as the mounting strife in the Middle East appeared to pose a growing threat to supply. The greenback advanced against a basket of world currencies as market participants kept a watchful eye on developments in the Middle East.

Persons: Andrew Kelly, Joe Biden, Greg Bassuk, Bassuk, Morgan Stanley, Brent, homebuilding, Sterling, Gold, Stephen Culp, Amanda Cooper, Christina Fincher, Leslie Adler, Richard Chang Organizations: REUTERS, Nvidia, Tesla Inc, Nasdaq, U.S, AXS Investments, Investors, Procter, Gamble, Dow Jones, Japan's Nikkei, greenback, Thomson Locations: Manhattan , New York City, U.S, Israel, Gaza, China, New York, Beijing, Asia, Pacific, Japan, London

☆ Wall St ends mixed, US Treasury yields spike on robust data, solid earnings
▼ + stars: | 2023-10-17 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

[1/3] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 28, 2023. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsNEW YORK, Oct 17 (Reuters) - The Nasdaq dipped and benchmark U.S. Treasury yields surged on Tuesday as robust economic data and strong third-quarter earnings sugested the Federal Reserve may keep policy tight for longer than expected. Yields on two-year Treasury notes rose to 17-year highs with five-year yields at 16-year peaks. Emerging market stocks rose 0.48%. Benchmark Treasury yields spiked after the strong retail sales data led market participants to adjust their expectations regarding the duration of the central bank's tightening cycle.

Persons: Brendan McDermid, Chip, Joe Biden's, Goldman Sachs, Thomas Martin, Martin, Biden, Brent, Stephen Culp, Selena Li, Alun John, Sharon Singleton, Cynthia Osterman, David Gregorio Our Organizations: New York Stock Exchange, REUTERS, Nasdaq, Treasury, Federal Reserve, Dow, Semiconductor, SOX, Bank of America, Dow Jones, Japan's Nikkei, U.S, Thomson Locations: New York City, U.S, China, Philadelphia, Atlanta, Israel, Asia, Pacific, Japan, Hong Kong, London

Jobs growth for September nearly doubled expectations as nonfarm payrolls increased by 336,000 for the month, strengthening views that policymakers will need to keep interest rates elevated to cool inflation. Treasury yields move inversely to bond prices. “It’s quite a report,” said Peter Cardillo, chief market economist at Spartan Capital Securities. On the long end of the curve, 30-year yields surged above 5% hitting their highest since 2007. However, Craig Ellinger, head of Americas fixed income at UBS Asset Management, believes more rate increases could be in store.

Persons: Dado Ruvic, ”, Peter Cardillo, Jake Schurmeier, ” Alex McGrath, Tiffany Wilding, Craig Ellinger, Ellinger, Davide Barbuscia, David Randall, Saqib Iqbal Ahmed, Stephen Culp, Sruthi Shankar, Ira Iosebashvili, Chizu Nomiyama, Diane Craft Organizations: REUTERS, U.S, Treasury, Federal Reserve, Spartan Capital Securities, Harbor Capital, ADP, Fed, UBS Asset Management, Thomson Locations: Treasuries, Americas

Japanese yen and U.S. dollar banknotes are seen with a currency exchange rate graph in this illustration picture taken June 16, 2022. Meanwhile, a partial government shutdown is looming, which could affect the release of economic data and potentially dent economic growth. The greenback is up 3.54% against the yen this quarter, following an 8.66% gain last quarter. Core inflation in Japan's capital slowed in September for the third straight month mainly on falling fuel costs, data showed on Friday. The British currency is on track for a quarterly loss of 3.85% against the U.S. dollar, the worst performance in a year.

Persons: Florence Lo, ”, Peter Cardillo, Brown Brothers Harriman, “ We’re, Janet Yellen, Sterling, Karen Brettell, Amanda Cooper, Stephen Culp, David Holmes, Nick Zieminski Organizations: U.S, REUTERS, Spartan Capital Securities, Federal Reserve, Brown Brothers, Republicans, U.S . House, Treasury, U.S ., Thomson Locations: New York, U.S, London

☆ S&P 500, Nasdaq notch biggest weekly losses since March
▼ + stars: | 2023-09-22 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 15, 2023. All three posted weekly losses, with the S&P 500 and the Nasdaq registering their largest Friday-to-Friday percentage drops since March. On Thursday, the S&P 500 dipped below its 100-day moving average - a key support level - for the first time since March, Its failure to break above that level suggests the index is still under downward pressure. Among the 11 major sectors of the S&P 500, consumer discretionary (.SPLRCD) suffered the steepest percentage loss, while tech (.SPLRCT) and energy (.SPNY) were the only gainers. The S&P 500 posted one new 52-week high and 35 new lows; the Nasdaq Composite recorded 33 new highs and 321 new lows.

Persons: Brendan McDermid, Alibaba, Zachary Hill, Hill, Jerome Powell, Michelle Bowman, Robert Pavlik, Li Auto, Stephen Culp, Ankika Biswas, Shristi, David Gregorio Our Organizations: New York Stock Exchange, REUTERS, Reuters, UAW, Dow, Nasdaq, Horizon Investments, Benchmark U.S, Treasury, Dakota Wealth, Dow Jones, Ford Motor, United Auto Workers, Activision, Microsoft, PDD Holdings, Baidu, Bloomberg, Hong, NYSE, Thomson Locations: New York City, U.S, Hong Kong, Charlotte , North Carolina, Fairfield , Connecticut, Bengaluru

☆ US stocks close at lowest since June, Treasury yields spike on hawkish Fed
▼ + stars: | 2023-09-21 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 15, 2023. Interest rate-sensitive megacaps, led by Amazon.com (AMZN.O), Nvidia Corp (NVDA.O), Apple Inc (AAPL.O) and Alphabet Inc (GOOGL.O) dragged the S&P 500 and the Nasdaq to their lowest closing levels since June. "It gives people another chance to say that the lag time of higher rates – which we're just starting to feel – might really bite." All 11 major sectors of the S&P 500 lost nearly 1% or more, with real estate stocks (.SPLRCR) suffering its biggest one-day percentage drop since March. The S&P 500 posted three new 52-week highs and 29 new lows; the Nasdaq Composite recorded 22 new highs and 373 new lows.

Persons: Brendan McDermid, Jerome Powell, dampening, Thomas Martin, we're, –, Martin, Rupert Murdoch, Stephen Culp, Ankika Biswas, Shristi, David Gregorio Our Organizations: New York Stock Exchange, REUTERS, FedEx, Broadcom, Google, Dow, Nasdaq, Treasury, Amazon.com, Nvidia Corp, Apple Inc, Inc, UAW, Dow Jones, . Semiconductor, SOX, Klaviyo Inc, Arm Holdings, Fox Corp, News Corp, NYSE, Thomson Locations: New York City, U.S, Atlanta, Philadelphia, New York, Bengaluru

☆ Wall Street closes lower after Fed holds rates steady, warns of higher for longer
▼ + stars: | 2023-09-20 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 11, 2023. The SEP projections also called for 50 basis points of rate cuts next year. "It’s your standard Fed day volatility," said Ryan Detrick, chief market strategist at Carson Group in Omaha, Nebraska. Among the 11 major sectors of the S&P 500, interest rate sensitive communication services (.SPLRCL) and technology (.SPLRCT) suffered the largest percentage losses. The S&P 500 posted 14 new 52-week highs and 6 new lows; the Nasdaq Composite recorded 39 new highs and 246 new lows.

Persons: Brendan McDermid, Ryan Detrick, Detrick, Jerome Powell, Maplebear, Stephen Culp, David Gregorio Our Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, U.S . Federal Reserve, Microsoft Corp, Apple Inc, Nvidia Corp, Carson Group, Fed, Dow Jones, Arm Holdings, Maplebear Inc, Holdings, Coty, NYSE, Thomson Locations: New York City, U.S, Omaha , Nebraska

☆ U.S. stocks close lower as investors take cover ahead of Fed decision
▼ + stars: | 2023-09-19 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

All three indexes ended the session lower in a broad sell-off ahead of the Fed's interest rate announcement on Wednesday, which is expected to culminate in a decision to leave key interest rates unchanged. The Fed is also due to release its Summary Economic Projections, including its dot plot, which should provide a glimpse into the Federal Open Markets Committee's forecast trajectory of interest rates, inflation and economic growth. On the economic front, a jump in Canada's annual inflation rate due to rising gasoline prices, and a bigger-than-expected plunge in U.S. housing starts helped feed investor uncertainty. Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 29, 2023. Starbucks (SBUX.O) lost ground following TD Cowen's decision to downgrade the coffee chain's shares to "underperform."

Persons: Bill Northey, Helena Montana, Northey, Michael Green, Brendan McDermid, Walt Disney, Stephen Culp, Ankika Biswas, Shristi, Aurora Ellis Organizations: Disney, Dow, Nasdaq, U.S . Federal Reserve, Federal Reserve, U.S, Bank Wealth Management, Federal, Management, Fed, Maplebear Inc, chipmaker, Holdings, New York Stock Exchange, REUTERS, Arm Holdings, Dow Jones, Starbucks, General Motors, Ford Motor, United Auto Workers, NYSE, Thomson Locations: Helena, Philadelphia, New York City, U.S, Bengaluru

☆ Wall Street moves sideways as investors look to Fed
▼ + stars: | 2023-09-18 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 11, 2023. Financial markets have currently baked in a 99% certainty that the Fed will hold the key rate at 5.25%-5.00% on Wednesday. British chipmaker Arm Holdings slid 4.5% after Bernstein initiated coverage with an "underperform" rating just days after its stellar debut. Declining issues outnumbered advancing ones on the NYSE by a 1.22-to-1 ratio; on Nasdaq, a 1.74-to-1 ratio favored decliners. The S&P 500 posted 6 new 52-week highs and 11 new lows; the Nasdaq Composite recorded 37 new highs and 247 new lows.

Persons: Brendan McDermid, Bernstein, Jerome, Powell, Peter Tuz, Janet Yellen, Sam Stovall, Stovall, Piper, Stephen Culp, Ankika Biswas, Shristi, Aurora Ellis Organizations: New York Stock Exchange, REUTERS, Holdings, Dow, Nasdaq, U.S, U.S . Federal, Chase Investment, Markets, CFRA Research, Dow Jones, Energy, Tesla Inc, Corp, Arm Holdings, Paypal Holdings, NYSE, Thomson Locations: New York City, U.S, U.S ., Charlottesville , Virginia, New York, Bengaluru

☆ Wall Street tumbles, Treasury yields gain as focus turns to Fed
▼ + stars: | 2023-09-16 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

The S&P 500 and the Nasdaq reversed their weekly advances, while the blue-chip Dow ended the week nominally higher. European stocks closed higher, extending a rally sparked by the European Bank signaling an end to its rate-hiking cycle, and logging a weekly gain. The pan-European STOXX 600 index (.STOXX) rose 0.23% and MSCI's gauge of stocks across the globe (.MIWD00000PUS) shed 0.63%. Emerging market stocks rose 0.33%. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) closed 0.58% higher, while Japan's Nikkei (.N225) rose 1.10%.

Persons: Brendan McDermid, Dow, TW, Chuck Carlson, Robert Pavlik, Sterling, Brent, Stephen Culp, Naomi Rovnick, Kevin Buckland, Nick Zieminski, Diane Craft, Deepa Babington Organizations: New York Stock Exchange, REUTERS, Treasury, Nasdaq, Semiconductor, SOX, Reuters, University of Michigan, Federal Reserve, Horizon Investment, Financial, Dakota Wealth, Dow Jones, Bank, Japan's Nikkei, Thomson Locations: New York City, U.S, Philadelphia, Hammond , Indiana, Fairfield , Connecticut, Asia, Pacific, Japan, London, Tokyo

☆ Wall Street gains, dollar eases ahead of CPI report
▼ + stars: | 2023-09-11 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

[1/2] People are seen on Wall Street outside the New York Stock Exchange (NYSE) in New York City, U.S., March 19, 2021. The relatively languid session appeared to be the calm before a storm of U.S. economic data this week, with Wednesday's crucial consumer prices report (CPI) paramount. "Investors are focusing on how they will respond to Wednesday's CPI report," Stovall added. Emerging market stocks rose 0.48%. Gold prices headed higher in opposition to the dollar.

Persons: Brendan McDermid, Sam Stovall, Stovall, Kazuo Ueda, Sterling, Brent, Stephen Culp, Amanda Cooper, William Maclean, Angus MacSwan Organizations: New York Stock Exchange, REUTERS, Bank of, Nasdaq, Tesla Inc, CFRA Research, CPI, U.S, Financial, Bank of Japan, Dow Jones, Bank's, Japan's Nikkei, Treasury, Thomson Locations: New York City, U.S, Bank of Japan, New York, U.S . Federal, Japan, Asia, Pacific, Russian, Saudi, London

☆ Morning Bid: Try to top that one, Asia
▼ + stars: | 2023-09-03 | by ( Stephen Culp | ) www.reuters.com time to read: +2 min

Staff lower Chinese national flag in front of screens showing the index and stock prices outside Exchange Square, in Hong Kong, China, August 18, 2023. REUTERS/Tyrone Siu/File Photo Acquire Licensing RightsSept 4 (Reuters) - A look at the day ahead in Asian markets from Stephen Culp, financial markets journalist. Asian markets have a tough act to follow on Monday - their own. "Clearly, we've seen a significant slowdown in the Chinese economy the last couple of months," said Ryan Detrick, chief market strategist at Carson Group in Omaha. On Thursday, Japan is due to release revised second-quarter GDP data and CPI and PPI reports from China are on deck for Friday.

Persons: Tyrone Siu, Stephen Culp, Ryan Detrick, Saola, Li Qiang, Diane Craft Organizations: REUTERS, Carson Group, Association of Southeast Asian Nations, ASEAN, PMI, CPI, PPI, South Korea CPI, Australia Judo Bank, Thomson, Reuters Locations: Exchange, Hong Kong, China, Shanghai, Shenzhen, Asia, Beijing, Omaha, Guangdong, Macau, Taiwan, India, Japan

Sept 1 (Reuters) - The U.S. Federal Reserve is likely done raising interest rates, traders bet on Friday after a government report showed the unemployment rate rose last month and wage growth cooled. Futures that settle to the Fed's policy rate had already priced in only a slight chance of a rate hike this month. "This report is likely to put the Fed on hold in September, and if we get more positive inflation news in September and October, the Fed is likely done, and we’ve seen the end of the rate hikes," said Peter Cardillo, chief market economist at Spartan Capital Securities. "In the labor market, some progress is being made in bringing demand and supply into better balance, but the job market is still strong,” she told a European Central Bank conference shortly after the latest jobs report. Traders currently see the Fed likely on hold through April 2024, with rate cuts to start in May.

Persons: we’ve, Peter Cardillo, Loretta Mester, Ann Saphir, Stephen Culp, Michael S, Lucia Mutikani, Alex Richardson, Andrea Ricci, Marguerita Choy Organizations: U.S . Federal, Labor Department, Employers, Spartan Capital Securities, Fed, Cleveland Fed, European Central Bank, Traders, Derby, Thomson

☆ Wall St mixed, dollar gains after inflation data
▼ + stars: | 2023-08-31 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 29, 2023. European shares reversed earlier gains to close lower as falling consumer staples and luxury stocks offset gains in financials and real estate. Emerging market stocks lost 0.78%. The dollar index (.DXY) rose 0.41%, with the euro down 0.71% to $1.0846. U.S. Treasury yields were last a bit lower in choppy trading after data reinforced expectations that the Fed will hold interest rates steady in September.

Persons: Brendan McDermid, Dow, Joseph Sroka, we’ve, Sroka, Brent, Stephen Culp, David Evans, Nick Zieminski Organizations: New York Stock Exchange, REUTERS, Federal Reserve, Nasdaq, Commerce, PCE, CPI, PPI, Fed, Dow Jones, Japan's Nikkei, European Central Bank, Treasury, Thomson Locations: New York City, U.S, Atlanta, financials, Asia, Pacific, Japan, OPEC

☆ Morning Bid: Asia kicks off September with eyes on Beijing
▼ + stars: | 2023-08-31 | by ( Stephen Culp | ) www.reuters.com time to read: +2 min

An employee works on the production line at Jingjin filter press factory in Dezhou, Shandong province, China August 25, 2022. REUTERS/Siyi Liu/File Photo Acquire Licensing RightsSept 1 (Reuters) - A look at the day ahead in Asian markets from Stephen Culp, financial markets journalist. Recent policy decisions and other steps taken by Beijing and Chinese firms to jump start investor sentiment and support local markets has had an effect. Chinese stocks this week posted back-to-back gains of 1% or more for the first time since January. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Siyi Liu, Stephen Culp, Josie Kao Organizations: REUTERS, PMI, Thomson, Reuters Locations: Dezhou, Shandong province, China, Shanghai, Beijing, South Korea, Australia

☆ Wall Street gains, dollar softens as weak data signals Fed pause
▼ + stars: | 2023-08-30 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

Weak economic data could be good news for interest rates, as it could give the Federal Reserve a rationale for letting key interest rates stand at next month's monetary policy meeting. GDPFinancial markets have currently priced in a 88.5% likelihood of a September Fed pause, according to CME's FedWatch tool. Emerging market stocks rose 0.11%. The greenback extended its losses, touching a two-week low against a basket of world currencies in the wake of disappointing economic data. Crude prices edged higher as industry data showed tighter-than-expected supply as investors digested Hurricane Idalia's potential effect on demand.

Persons: Jason Reed, Dow, Oliver Pursche, Thomas Martin, Martin, Sterling, Brent, Stephen Culp, Sharon Singleton, Nick Zieminski, Josie Kao Organizations: U.S . Federal, REUTERS, Federal Reserve, Nasdaq, Federal, Wealthspire Advisors, Dow Jones, Japan's Nikkei, Treasury, U.S ., Thomson Locations: Washington, New York, Atlanta, Asia, Pacific, Japan, U.S

☆ Wall St surges, Treasury yields retreat as data hints at potential Fed pause
▼ + stars: | 2023-08-29 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

"Today's data indicates that consumers are being cautious," said Peter Tuz, president of Chase Investment Counsel in Charlottesville, Virginia. The pan-European STOXX 600 index (.STOXX) rose 0.97% and MSCI's gauge of stocks across the globe (.MIWD00000PUS) gained 1.38%. Emerging market stocks rose 1.09%. U.S. Treasury yields retreated after a sharp fall in U.S. job openings increased the likelihood of a Fed rate hike pause. Oil prices rose as Hurricane Idalia bore down on Florida's Gulf Coast, threatening supply in a tightening market.

Persons: Toby Melville, Peter Tuz, Tuz, payrolls, Brent, Stephen Culp, Susan Fenton, Mark Heinrich Our Organizations: London Stock Exchange, REUTERS, Treasury, Chase Investment, Commerce, Dow Jones, Nasdaq, Japan's Nikkei, U.S, Thomson Locations: Canary Wharf, London, Britain, U.S, Charlottesville , Virginia, Asia, Pacific, Japan, Gulf

☆ US stocks advance, crude rises, crucial data in the wings
▼ + stars: | 2023-08-28 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

[1/2] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 19, 2023. The pan-European STOXX 600 index (.STOXX) rose 0.89% and MSCI's gauge of stocks across the globe (.MIWD00000PUS) gained 0.60%. Emerging market stocks rose 0.65%. U.S. crude rose 0.34% to settle at $80.10 per barrel, while Brent settled at $84.42, down 0.07% on the day. Gold gained ground as investors continue to digest Fed Chairman Jerome Powell's Jackson Hole commentary last week and looked forward to the week's economic data.

Persons: Brendan McDermid, Chuck Carlson, Carlson, Jerome Powell, China's, Brent, Sterling, Jerome Powell's Jackson, Stephen Culp, Neil Mackenzie, Amanda Cooper, Alex Richardson, Diane Craft Organizations: New York Stock Exchange, REUTERS, payrolls, PMI, Federal Reserve, Horizon Investment, Beijing, Labor, Commerce, Dow Jones, Nasdaq, Japan's Nikkei, Gulf, U.S . Treasury, Fed, Thomson Locations: New York City, U.S, Hammond , Indiana, Jackson Hole , Wyoming, China, Asia, Pacific, Japan, London

☆ U.S. stocks rally, crude rises as crucial data awaits
▼ + stars: | 2023-08-28 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

[1/2] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 19, 2023. European stocks were sharply higher with technology shares leading the way, with an assist from China-exposed industrials. The pan-European STOXX 600 index (.STOXX) rose 0.85% and MSCI's gauge of stocks across the globe (.MIWD00000PUS) gained 0.69%. Emerging market stocks rose 0.65%. Gold gained ground as investors continue to digest Fed Chairman Jerome Powell's Jackson Hole commentary last week and looked forward to the week's economic data.

Persons: Brendan McDermid, Powell, Robert Pavlik, Jerome Powell, China's, Brent, Sterling, Jerome Powell's Jackson, Stephen Culp, Neil Mackenzie, Amanda Cooper, Alex Richardson Organizations: New York Stock Exchange, REUTERS, payrolls, PMI, Federal Reserve, Dakota Wealth, Beijing, Labor, Commerce, Dow Jones, Nasdaq, Japan's Nikkei, U.S . Treasury, Thomson Locations: New York City, U.S, Fairfield , Connecticut, Jackson Hole , Wyoming, China, Asia, Pacific, Japan, London

☆ Maui wildfires: What are the deadliest wildfires in US history?
▼ + stars: | 2023-08-13 | by ( Stephen Culp | ) www.reuters.com time to read: +5 min

The causes of the Hawaii wildfires, which started on Tuesday night, have not yet been determined. Hawaii Governor Josh Green on Sunday called a part of the island of Maui that was devastated by wildfires a "war zone". Reuters GraphicsHOW MANY DIED IN THE CLOQUET AND GREAT HINCKLEY FIRES? Since 2018, wildfires in the United States have destroyed nearly 63,000 structures, the majority of which were homes. In 2022, there were 66,255 wildfires in the United States, compared with 18,229 in 1983, when record keeping began, per the National Oceanic and Atmospheric Administration (NOAA).

Persons: Josh Green, Peshtigo, Partridge, Hinckley, Stephen Culp, Lisa Shumaker Organizations: National Fire Protection Association, Historical Society, Reuters, HINCKLEY, Library of Congress, NFPA, Federal Emergency Management Association, FEMA, Environmental Protection Agency, Interagency Fire Center, Fire, Hinckley, Oceanic, Atmospheric Administration, NOAA, Thomson Locations: Maui, Hawaii, Lahaina, Wisconsin, Minnesota, Hinckley, Mission, Miller, United States, California

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