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Markets reacted positively to data, which showed retail sales and producer prices declined more than expected in December. However, the gains were short-lived as St. Louis Fed President James Bullard and Cleveland Fed President Loretta Mester stressed on the need to raise rates beyond 5% to bring inflation to heel. U.S. stock markets have started 2023 on a strong footing on hopes that a moderation in inflationary pressures could give the Fed cover to dial down the size of its interest rate hikes. Declining issues outnumbered advancers for a 1.23-to-1 ratio on the NYSE and a 1.53-to-1 ratio on the Nasdaq. The S&P index recorded nine new 52-week highs and two new lows, while the Nasdaq recorded 63 new highs and 12 new lows.

The Fed raised the key rate by 50 basis points in December, after four back-to-back 75-bps hikes, but also indicated a prolonged period of rate hikes to above 5% in 2023. Traders' bets of a 25-basis point rate hike by the Fed in February shot up to 89% after the inflation data, from 77% previously. Advancing issues outnumbered decliners for a 2.31-to-1 ratio on the NYSE and a 1.63-to-1 ratio on the Nasdaq. The S&P index recorded eight new 52-week highs and one new low, while the Nasdaq recorded 39 new highs and 10 new lows. Reporting by Shubham Batra, Amruta Khandekar and Ankika Biswas in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

Tuesday's slide knocked off nearly $50 billion in market value, roughly equal to the valuation of rival Ford Motor Co (F.N), which last year sold three times as many cars as Tesla. The sell-off came after Tesla missed market expectations for fourth-quarter deliveries despite shipping a record number of vehicles. Tesla's market value has declined by about $370 billion since Chief Executive Elon Musk closed the deal to buy social media firm Twitter. Tesla shares biggest loser among Big Tech Tesla shares biggest loser among Big Tech since AprilTesla delivered 405,278 vehicles in the fourth quarter, short of analysts' estimates of 431,117. The gap between production and deliveries has widened to 34,000 vehicles as more cars got stuck in transit.

The declines made communication services (.SPLRCL), technology (.SPLRCT) and the retail index (.SPXRT) the top decliners among major S&P 500 sectors, down more than 1.2% each. Investors avoided riskier bets and fled to safer assets such as the U.S. dollar, pushing down the benchmark S&P 500 (.SPX) 20% and the tech-heavy Nasdaq (.IXIC) nearly 34% this year. The S&P 500 growth index (.IGX) is down about 30% this year while the value index (.IVX) has dropped 7.9%, with investors preferring high dividend yielding sectors with steady earnings such as energy. The tech sector has shed 29.8% this year and is among the worst performing of the major S&P 500 sectors in 2022. The S&P index recorded no new 52-week highs and no new lows, while the Nasdaq recorded 29 new highs and 45 new lows.

SummarySummary Companies Wall St eyes first annual drop in four yearsU.S.-listed shares of Shaw Communications jumpFutures down: Dow 0.40%, S&P 0.59%, Nasdaq 0.94%Dec 30 (Reuters) - Wall Street was set to open lower on the final trading day of a roller-coaster year marked by aggressive interest-rate hikes to curb inflation, the Russia-Ukraine war and recession fears. Investors avoided riskier bets and fled to safer assets such as the U.S. dollar, pushing down the benchmark S&P 500 (.SPX) 19% and the tech-heavy Nasdaq (.IXIC) 33% this year. "(The) back half of 2023 is going to be better because I believe the Fed will stop raising interest rates. ET, Dow e-minis were down 132 points, or 0.4%, S&P 500 e-minis were down 22.75 points, or 0.59%, and Nasdaq 100 e-minis were down 104 points, or 0.94%. Reporting by Ankika Biswas and Amruta Khandekar in Bengaluru; Editing by Vinay Dwivedi and Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.

☆ Elon Musk's vow to hold on to Tesla stock fails to soothe investors
▼ + stars: | 2022-12-23 | by ( ) www.reuters.com time to read: +2 min

Dec 23 (Reuters) - Tesla Inc shares (TSLA.O) touched a fresh two-year low in volatile trading on Friday as boss Elon Musk's promise to not sell his shares for at least two years did little to reassure investors. "I won't sell stock until I don't know probably two years from now. Definitely not next year under any circumstances and probably not the year thereafter," Musk said on Thursday. Known for tweeting about his plans extensively, Musk most recently asked in a Twitter poll if he should quit as the head of Twitter. "Musk looks rattled, vowing not to sell more stock and floating the idea of share buybacks.

[1/2] A trader works on the trading floor at the New York Stock Exchange (NYSE) in New York City, U.S., December 14, 2022. However, money market participants still place a 73.5% chance of a 25 basis points rate hike in February to 4.5%-4.75%, with a terminal rate of 4.84% in May 2023. ET, Dow e-minis were up 14 points, or 0.04%, S&P 500 e-minis were up 4.5 points, or 0.12%, and Nasdaq 100 e-minis were up 23 points, or 0.2%. Moderna Inc (MRNA.O) advanced 2.7% after Jefferies upgraded the biotechnology firm's stock to "buy" from "hold", citing cancer therapy opportunities. Reporting by Shubham Batra and Johann M Cherian in Bengaluru; Editing by Saumyadeb Chakrabarty and Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

Shares of Target Corp (TGT.N) tumbled 12% after the big-box retailer forecast a surprise drop in holiday-quarter sales. Micron Technology (MU.O) shares dropped over 7% after the company said it would reduce memory chip supply and make more cuts to its capital spending plan. The S&P 500 information technology sector (.SPLRCT) dropped 1.3%, while the Philadelphia SE Semiconductor index (.SOX) sank over 4%. Elsewhere in retail, shares of Lowe's (LOW.N) rose over 3% after the home improvement company raised its annual profit forecast. The S&P 500 posted 3 new 52-week highs and 2 new lows; the Nasdaq Composite recorded 54 new highs and 110 new lows.

REUTERS/Brendan McDermid/File PhotoSummarySummary Companies October retail sales rise more than expectedTarget's dull outlook weighs on retailersMicron's supply cut triggers chip selloffIndexes: Dow up 0.05%, S&P down 0.51%, Nasdaq down 1.10%Nov 16 (Reuters) - The S&P 500 and Nasdaq fell on Wednesday as a grim outlook from Target spurred fresh concerns for retailers heading into the crucial holiday season, while Micron's supply cut triggered a selloff in the chip sector. Target Corp (TGT.N) tumbled as much as 17% in early trading as a pullback in consumer spending despite heavy discounting cut its third-quarter profit by half. Despite the sales warning from Target, data showed U.S. retail sales increased more than expected in October, boosted by purchases of motor vehicles and suggesting that consumer spending remained stable. Declining issues outnumbered advancers for a 1.73-to-1 ratio on the NYSE and for a 2.23-to-1 ratio on the Nasdaq. The S&P index recorded three new 52-week highs and two new lows, while the Nasdaq recorded 50 new highs and 104 new lows.

☆ Crypto markets in turmoil over FTX bankruptcy
▼ + stars: | 2022-11-11 | by ( ) www.reuters.com time to read: +9 min

Nov 11 (Reuters) - Crypto exchange FTX filed for U.S. bankruptcy on Friday and Sam Bankman-Fried stepped down as CEO, after a liquidity crisis that has prompted intervention from regulators around the world. FTX, its affiliated crypto trading fund Alameda Research and about 130 other companies have commenced voluntary Chapter 11 bankruptcy proceedings in Delaware, FTX said. MARKET REACTION:Shares of cryptocurrency and blockchain-related firms dropped on Friday after FTX, one of the biggest crypto exchanges, said it would initiate bankruptcy proceedings in the United States, triggering a potentially massive meltdown in the industry. "The shock was that this guy was the face of the crypto industry and it turned out that the emperor had no clothes. Ultimately, the lesson here is that the crypto industry needs to stop trusting cults of personality, no matter how well-intentioned they might seem."

☆ Wall Street asks if Musk can manage Twitter, Tesla and more
▼ + stars: | 2022-10-28 | by ( ) www.reuters.com time to read: +2 min

Oct 28 (Reuters) - As the dust settles on Elon Musk's $44 billion buyout of Twitter, analysts and investors are debating one crucial question - has the billionaire entrepreneur behind Tesla and SpaceX bitten off more than he can chew? Tesla's stock has lost nearly a third of its market value since Musk made an offer to buy Twitter in April, more than double the decline in the benchmark S&P 500 index (.SPX) in the same period. Nelson is among those who believe that Musk can handle the various roles while delivering on Tesla's targets. "If anyone is capable of pulling off this juggling act in our view, you know it's Elon," he said. Tesla stock reacts to Musk's $44 bln deal to buy TwitterReporting by Nivedita Balu, Akash Sriram and Yuvraj Malik in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

☆ S&P 500, Nasdaq fall on fears of profit hit from inflation, rate hikes
▼ + stars: | 2022-10-11 | by ( Shreyashi Sanyal | ) www.reuters.com time to read: +4 min

With recent jobs and inflation data suggesting more big interest rate hikes by the Federal Reserve, Wall Street's main indexes have been clocking losses in the past few sessions on fears of the economy slipping into a recession. Register now for FREE unlimited access to Reuters.com Register"The market wants to see data, show me the numbers, show me we're getting inflation down. 1/4 A trader works on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., October 11, 2022. The CBOE Volatility index (.VIX), rose for a fourth straight session, inching closer to near two-weeks high. The S&P index recorded one new 52-week high and 95 new lows, while the Nasdaq recorded 15 new highs and 492 new lows.

☆ Wall St falls on worries of lower third-quarter corporate profit; Amgen jumps
▼ + stars: | 2022-10-11 | by ( Shreyashi Sanyal | ) www.reuters.com time to read: +4 min

Big U.S. banks are set to report quarterly results on Friday that may offer insight into the health of the U.S. economy. "Right now the market wants to see data, show me the numbers, show me we're getting inflation down. Until then, this market is probably stuck in this whole death by a 1,000 cuts scenario," Dick said. Declining issues outnumbered advancers for a 3.28-to-1 ratio on the NYSE and for a 2.36-to-1 ratio on the Nasdaq. The S&P index recorded no new 52-week high and 71 new lows, while the Nasdaq recorded 10 new highs and 250 new lows.

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".

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