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☆ S&P 500 ends slightly down after mixed earnings, opening glitch
▼ + stars: | 2023-01-24 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

The Nasdaq joined the S&P 500 in negative territory, while the Dow ended modestly higher. Fourth quarter earnings season is in full swing, with 72 of the companies in the S&P 500 having reported. On aggregate, analysts now expect S&P 500 earnings 2.9% below the year-ago quarter, down from the 1.6% year-on-year decline seen on Jan. 1, per Refinitiv. Among the 11 major sectors of the S&P 500, industrials suffered the biggest loss. The S&P 500 posted 26 new 52-week highs and 10 new lows; the Nasdaq Composite recorded 77 new highs and 22 new lows.

☆ Wall St ends higher, Powell comments avoid rate policy
▼ + stars: | 2023-01-10 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +4 min

Fed Governor Michelle Bowman said on Tuesday the bank will have to raise interest rates further to combat high inflation. Amazon.com Inc. (AMZN.O) shares rose 2.9% and gave the Nasdaq and S&P 500 their biggest boosts. This week marks the start of the fourth-quarter earnings season for S&P 500 companies, with results from several of Wall Street's biggest banks due later this week. The World Bank on Tuesday slashed its 2023 growth forecasts on Tuesday to levels teetering on the brink of recession for many countries as the impact of central bank rate hikes intensifies. The S&P 500 posted four new 52-week highs and no new lows; the Nasdaq Composite recorded 71 new highs and 30 new lows.

☆ Wall Street climbs; Powell comments avoid rate policy
▼ + stars: | 2023-01-10 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

Fed Governor Michelle Bowman said on Tuesday the bank will have to raise interest rates further to combat high inflation. Traders are betting on a 25-basis point rate hike at the Fed's upcoming policy meeting in February. Amazon.com Inc (AMZN.O) and Microsoft Corp (MSFT.O) gave the S&P 500 its biggest boost. The World Bank on Tuesday slashed its 2023 growth forecasts on Tuesday to levels teetering on the brink of recession for many countries as the impact of central bank rate hikes intensifies. The S&P 500 posted two new 52-week highs and no new lows; the Nasdaq Composite recorded 54 new highs and 25 new lows.

"This falls into the category of a game changing view of Chinese companies because the threat of their delisting seems to have been eliminated," said Art Hogan, chief market strategist at B. Riley Financial. However, the relief was not seen in Thursday's trading for U.S.-listed shares of Chinese companies, which were higher amid the news, but gave up gains and some ended sharply lower. Washington and Beijing reached a landmark deal in August to settle a long-running dispute over auditing compliance of U.S.-listed Chinese firms. Authorities in China have long been reluctant to let overseas regulators inspect local accounting firms, citing national security concerns. U.S. lawmakers in 2020 agreed to legislation that would oust Chinese companies from U.S. stock exchanges unless they adhere to American auditing standards.

☆ Stocks rise on hope of revived China demand, oil slips
▼ + stars: | 2022-12-08 | by ( Herbert Lash | ) www.reuters.com time to read: +4 min

Wall Street rose on enthusiasm over a rally in U.S.-listed shares of Chinese companies, while copper climbed on hopes of increased demand from China, its biggest consumer. "The realization that China is going to be back online and producing product will help bring down inflation and that's a good thing. Treasury yields rose as investors awaited a report next week on inflation and the Fed meeting. Global bond yields, which move inversely to price, have tumbled in recent weeks on expectations of slower growth or recessions will curb the rise in rates. Gold prices edged higher as the dollar eased and investors positioned themselves ahead of the U.S. inflation data and the Fed's policy announcements.

☆ Stocks rise on hope of revived China demand, oil wobbles
▼ + stars: | 2022-12-08 | by ( Herbert Lash | ) www.reuters.com time to read: +4 min

Wall Street rose on enthusiasm over a rally in U.S.-listed shares of Chinese companies, while copper climbed on hopes of increased demand from China, its biggest consumer. "The realization that China is going to be back on-line and producing product will help bring down inflation and that’s a good thing. "The bulls can spin the narrative that both inflation expectations and real yields are coming down. Treasury yields rose as investors awaited a report next week on inflation and the Fed meeting. Gold prices edged higher as the dollar eased and investors positioned themselves ahead of the U.S. inflation data and the Fed's policy announcements.

"Good news on the economy is bad news for inflation, whether that's China opening up or lower gasoline prices." The 10-year's yield rose 9.3 basis points to 3.596%. The 10-year German bund , the bloc's benchmark, rose 1.3 basis points to 1.890%. The Reserve Bank of Australia meets on Tuesday, and is expected to raise rates by a mere 25 basis points. The Bank of Canada meets on Wednesday and is expected to raise rates by 50 basis points.

That could support a rally in 10-year Treasury bonds and help stocks extend their recent gains, they said. "I think the markets are rallying at the prospect of gridlock," said Jack Ablin, chief investment officer at Cresset Capital in Chicago. Historically, stocks have tended to do better under a split government when a Democrat is in the White House, with investors attributing some of that performance to political gridlock that prevents major policy changes. The benchmark index has risen about 5% over the last month, cutting its year-to-date decline to about 20%. With U.S. equity options market positioned for relative calm, a surprisingly strong showing by Democrats could upend markets.

☆ Investors brace for government gridlock as Republicans seen gaining in U.S. midterms
▼ + stars: | 2022-11-08 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +3 min

Republicans are favored to win control of the House of Representatives and possibly the Senate, polls and betting markets show, though there are still hours left to vote. "I think the markets are rallying at the prospect of gridlock," said Jack Ablin, chief investment officer at Cresset Capital in Chicago. "Fiscal spending has created a challenge for central banks worldwide. The S&P 500 (.SPX), which finished up 0.6% on the day, has risen about 5% over the last month. Reporting by Saqib Iqbal Ahmed; Editing by Ira Iosebashvili and Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

☆ Fed delivers fourth 75 bp hike, signals scale-back coming
▼ + stars: | 2022-11-02 | by ( ) www.reuters.com time to read: +6 min

This statement clearly suggests input from Vice Chair Brainard and opens the door for the Fed to slow down the pace of future rate hikes. Monetary policy today is not sufficiently tight enough. We’ll know when the Fed is done tightening; they’ll tell us by simply saying that monetary policy is sufficiently restrictive. “The last thing we need to see regarding what the Fed will do in the short run is the election. If there’s a sense that fiscal policy will be more cooperative with monetary policy, it will make the Fed’s job easier.”Compiled by the Global Finance & Markets Breaking News teamOur Standards: The Thomson Reuters Trust Principles.

☆ S&P 500, Nasdaq slide, while Dow ends higher on mixed earnings picture
▼ + stars: | 2022-10-27 | by ( Stephen Culp | ) www.reuters.com time to read: +5 min

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.

☆ Wall Street extends rally, Treasury yields waver after solid earnings, economic data
▼ + stars: | 2022-10-18 | by ( Stephen Culp | ) 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., October 17, 2022. REUTERS/Brendan McDermidNEW YORK, Oct 18 (Reuters) - U.S. stocks surged and Treasury yields oscillated on Tuesday as better-than-expected earnings and robust factory data fueled investors' risk appetite. Extending Monday's broad rally, all three major U.S. stock indexes were last up well over 1%, with gains across the board. Emerging market stocks rose 1.47%. read moreThe dollar index rose 0.08%, with the euro up 0.12% to $0.985.

☆ U.S. stocks extend rally, Treasury yields dip on solid earnings, economic data
▼ + stars: | 2022-10-18 | by ( Stephen Culp | ) www.reuters.com time to read: +3 min

REUTERS/Brendan McDermidNEW YORK, Oct 18 (Reuters) - U.S. stocks surged and Treasury yields eased as earnings surprised to the upside and robust factory data fueled investors' risk appetite. The pan-European STOXX 600 index (.STOXX) rose 0.67% and MSCI's gauge of stocks across the globe (.MIWD00000PUS) gained 1.23%. Emerging market stocks rose 1.40%. Treasury yields slid, echoing moves in UK and European bonds, as moves by the British government to stabilize its bond market have helped calm anxieties. read moreThe dollar index rose 0.22%, with the euro down 0.08% to $0.983.

☆ 4 S&P 500 renews slide, hits near two-year low
▼ + stars: | 2022-09-28 | by ( ) www.reuters.com time to read: +5 min

Register now for FREE unlimited access to Reuters.com Registerread moreMARKET REACTION:STOCKS: The S&P 500 (.SPX) lost 10.94 points, or 0.30%, to stand at 3,644.1, just above the old low at 3,636.87. Even if the inflation data gets better with the next report in mid-October, we won’t know how the Fed will react to it. There is a good case for that to happen if we get some inflation data that is a lot less scary than the last report." "(The support level for the S&P is) "a stretch at 3400, maybe 3200 and the worst case is probably 3000." But in terms of a sustained rally, I think it really takes anticipating the end of Fed rate hikes."

☆ S&P 500 falls to two-year low, bear market rally snuffed out
▼ + stars: | 2022-09-27 | by ( Chuck Mikolajczak | ) www.reuters.com time to read: +5 min

The S&P 500 touched a session low of 3,623.29, its lowest point on an intraday basis since Nov. 30, 2020. The index has tumbled more than 12% since Powell's speech and has shown little signs of stabilizing. Many analysts had looked at 3,900 as a strong technical support level for the index. Detrick said that coordinated hikes by multiple central banks left investors wondering how hawkish they all will end up being. Robert Pavlik, Senior Portfolio Manager at Dakota Wealth in Fairfield, Connecticut said he is looking at a worst case of 3,000 for the S&P as a support level.

☆ VIEW S&P 500 renews slide, hits near two-year low
▼ + stars: | 2022-09-27 | by ( ) www.reuters.com time to read: +2 min

After the benchmark index fell more than 20% from its early January high to a low on June 16, which confirmed that the retreat was indeed a bear market, the S&P then rallied into mid-August before running out of gas. (The support level for the S&P is) "a stretch at 3400, maybe 3200 and the worst case is probably 3000." Having said that, we've seen a number of bear market rallies, year to date. But in terms of a sustained rally, I think it really takes anticipating the end of Fed rate hikes." Register now for FREE unlimited access to Reuters.com RegisterAmericas Economics and Markets Desk; +1-646 223-6300Our Standards: The Thomson Reuters Trust Principles.

☆ S&P 500 renews slide, hits near two-year low
▼ + stars: | 2022-09-27 | by ( ) www.reuters.com time to read: +4 min

Register now for FREE unlimited access to Reuters.com Registerread moreMARKET REACTION: STOCKS: The S&P 500 (.SPX) lost 22.25 points, or 0.61%, to stand at 3,632.79. Also, no overt catalysts to propel breakout to the upside”“Markets had “fought the Fed” all year, hoping for more dovish tilt soon. (The support level for the S&P is) "a stretch at 3400, maybe 3200 and the worst case is probably 3000." But in terms of a sustained rally, I think it really takes anticipating the end of Fed rate hikes." Register now for FREE unlimited access to Reuters.com RegisterAmericas Economics and Markets Desk; +1-646 223-6300Our Standards: The Thomson Reuters Trust Principles.

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