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☆ Americans hate the economy because pay hasn't kept up with inflation — and it could stay that way until next year
▼ + stars: | 2023-09-13 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +5 min

One popular explanation, inflation, has fallen in recent months. But if inflation is the winning explanation, why do Americans still hate the economy? In May, year-over-year wage growth outpaced inflation for the first time in two years, and it continues to do so. Inflation, however, or specifically the gap between inflation and wage growth, is far from the only explanation that has been proposed for Americans' apparent pessimism about the economy. "If a recession were to begin at some point next year, joblessness would likely rise, weighing on inflation but wage growth as well."

Persons: they've, they're, Sarah Foster, Joe Biden's, Foster, joblessness Organizations: Service, University of Michigan's, of Labor Statistics, Journal Locations: Wall, Silicon, Quinnipiac

☆ Stock futures are little changed ahead of key inflation data: Live updates
▼ + stars: | 2023-09-10 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, July 20, 2023. Stock futures were little changed Sunday night as investors awaited a batch of economic data in the week ahead and earnings from two major tech companies. Futures tied to the Dow Jones Industrial Average ticked lower by 2 points, or 0.01%. S&P 500 futures and Nasdaq 100 futures edged higher by 0.06% and 0.1%, respectively. Investors are looking forward to key inflation data in the week ahead after a string of stronger-than-expected economic data points last week renewed worries that the Federal Reserve could raise rates more than previously expected.

Persons: Yung, Yu Ma, Ma Organizations: New York Stock Exchange, Stock, Futures, Dow Jones, Nasdaq, Dow, Investors, Federal Reserve, Traders, CME Group's, BMO Wealth Management, CNBC, CPI, University of Michigan's Consumer, Oracle, Adobe, Apple Locations: New York City, China

☆ Strong services costs lift US producer prices; inflation expectations dip
▼ + stars: | 2023-08-11 | by ( Lucia Mutikani | ) www.reuters.com time to read: +5 min

Some said the downgrade to June's data meant the rise in the PPI last month was in line with expectations. In the 12 months through July, the PPI increased 0.8% after gaining 0.2% in June, boosted by a lower base of comparison last year. Excluding the volatile food and energy components, the so-called core goods prices were unchanged last month after falling 0.2% in June. In the 12 months through July, the so-called core PPI increased 2.7%, matching June's rise. As with all the July inflation data, the pick-up in the annual core PCE rate is due to unfavorable base effects.

Persons: Bill Adams, Will Compernolle, Eugenio Aleman, Raymond James, Lucia Mutikani, Andrea Ricci, Paul Simao Organizations: PPI, Labor Department, Federal Reserve, Comerica Bank, Reuters, Reuters Graphics, Treasury, Consumers, University of, CPI, Fed, Thomson Locations: August WASHINGTON, Dallas, U.S, New York, disinflation

Adding to uncertainty was the start of the second quarter's final week on Monday, weeks ahead of the financial reporting season. Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., November 15, 2022. But Carnival (CCL.N) slumped 7.6% after the cruise operator forecast third-quarter earnings below Wall Street expectations. The S&P 500 posted 18 new 52-week highs and two new lows; the Nasdaq Composite recorded 53 new highs and 154 new lows. On U.S. exchanges 9.28 billion shares changed hands compared with the 11.62 billion average for the last 20 sessions.

Persons: Tesla, Aston Martin, Vladimir Putin's, Putin, Jerome Powell, Carol Schleif, they've, Schleif, Chris Zaccarelli, Zaccarelli, Brendan McDermid, Powell, Goldman Sachs, UK's Aston Martin, decliners, Sinéad Carew, Sruthi Shankar, Johann M, Shinjini Ganguli, Richard Chang Organizations: Pfizer, Aston, Dow, Nasdaq, Monday, U.S . State Department, Meta Platforms Inc, Inc, Tesla Inc, BMO, Investors, Independent, Alliance, Dow Jones, New York Stock Exchange, REUTERS, University of, Pfizer Inc, UBS, Ares Management, NYSE, Thomson Locations: Russia, Minneapolis, Charlotte, North Carolina, New York City, U.S, New York, Bengaluru

June 26 (Reuters) - U.S. stocks closed lower on Monday, as investors were wary of making riskier bets after Russia's aborted weekend mutiny. Investors were uncertain about the implications of the rebellion by Russian mercenaries that raised questions about President Vladimir Putin's future. Growth stocks weighed the most on the main indexes, with Meta Platforms Inc (META.O), Alphabet Inc (GOOGL.O) and Tesla Inc (TSLA.O) falling sharply. With this uncertainty in mind Schleif noted that investors were taking some profits in growth stocks that had advanced sharply this year. But Carnival (CCL.N) slumped after the cruise operator forecast third-quarter earnings below Wall Street expectations.

Persons: Vladimir Putin's, Putin, Jerome Powell, Carol Schleif, they've, Schleif, Chris Zaccarelli, Zaccarelli, Goldman Sachs, UK's Aston Martin, Sinéad Carew, Sruthi Shankar, Johann M, Shinjini Ganguli, Richard Chang Organizations: Monday, U.S . State Department, Meta Platforms Inc, Inc, Tesla Inc, Nasdaq, BMO, Independent, Alliance, Dow Jones, University of, Pfizer Inc, UBS, Ares Management, Thomson Locations: Russia, Minneapolis, Charlotte, North Carolina, U.S, New York, Bengaluru

Technology (.SPLRCT) and real estate sectors (.SPLRCR) were the other top gainers among the 11 major S&P 500 sectors. ET, the Dow Jones Industrial Average (.DJI) was down 19.60 points, or 0.06%, at 33,707.83, the S&P 500 (.SPX) was up 6.90 points, or 0.16%, at 4,355.23, and the Nasdaq Composite (.IXIC) was up 51.68 points, or 0.38%, at 13,544.20. Advancing issues outnumbered decliners by a 2.97-to-1 ratio on the NYSE and 1.37-to-1 ratio on the Nasdaq. The S&P index recorded 17 new 52-week highs and one new low, while the Nasdaq recorded 37 new highs and 67 new lows. Reporting by Sruthi Shankar and Johann M Cherian in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

Persons: Tesla, Aston Martin, Jerome Powell, Randy Frederick, Charles Schwab, Goldman Sachs, UK's Aston Martin, Lockheed Martin, Sruthi Shankar, Johann M, Shinjini Organizations: Pfizer, Aston, Dow, Nasdaq, Technology, University of, Dow Jones, Pfizer Inc, Inc, UBS, Tesla, Ares Management, Lockheed, Northrop Grumman Corp, Raytheon Technologies, NYSE, Thomson Locations: Russian, U.S, Russia, Bengaluru

☆ US consumer confidence dips to six-month low, labor market views soften
▼ + stars: | 2023-05-30 | by ( Lucia Mutikani | ) www.reuters.com time to read: +6 min

The Conference Board's consumer confidence index slipped to 102.3 this month, the lowest level since last November, from an upwardly revised 103.7 in April. The cutoff date for the survey, which places more emphasis on the labor market, was May 22. The survey's so-called labor market differential, derived from data on respondents' views on whether jobs are plentiful or hard to get, fell to 31.0, the lowest since April 2021, from 36.9 in April, suggesting the labor market was loosening up. More timely data like first-time applications for state unemployment benefits suggests the labor market remains tight, but is gradually easing. "Investors should expect Friday's job report to reveal emerging cracks in the labor market."

Persons: Christopher Rupkey, Joe Biden, Kevin McCarthy, Jeffrey Roach, Nicole Bachaud, Lucia Mutikani, Chizu Nomiyama, Andrea Ricci, Paul Simao Organizations: Labor, Conference, Social Security, Medicare, Reuters, University of, Republican U.S . House, Sunday, U.S . Labor Department, LPL, Treasury, Federal Reserve, National Association of Realtors, Federal Housing Finance Agency, Thomson Locations: WASHINGTON, New York, North Carolina, U.S, Seattle

WASHINGTON, May 15 (Reuters) - The U.S. Deputy Treasury Secretary on Monday dismissed the idea of minting a platinum coin as a way to avoid a U.S. default, saying the only workable solution was for Congress to raise the federal debt ceiling. Asked in a National Public Radio interview about the possibility of minting a $1 trillion platinum coin to circumvent the debt ceiling, Adeyemo said "creative, inventive" ideas have been floated in the past but are not workable. U.S. Treasury Secretary Janet Yellen also has rejected the idea of a platinum coin to skirt the debt ceiling and fund government expenses. The debt ceiling standoff was already having an impact on the U.S. economy, Adeyemo said, hurting the University of Michigan's consumer sentiment surveys "because the American people are starting to worry about whether the government is going to pay the bills." He repeated a Moody's Analytics estimate that a default would cost the U.S. around 8 million jobs and lead to recession.

☆ How to trade this week's retail earnings reports
▼ + stars: | 2023-05-14 | by ( Fred Imbert | ) www.cnbc.com time to read: +3 min

The home-improvement giant has also exceeded earnings expectations by 3.2% over the past 10 years. However, Home Depot shares are typically muted after the company reports earnings. Ross Stores, which also reports Thursday, has beaten earnings expectations 82.5%, too. The company has beaten analyst expectations 77.5% of the time, and its earnings per share have exceeded estimates by more than 3%. The company is slated to report earnings Thursday.

BlackRock Inc's (BLK.N) quarterly profit also beat analysts' estimates as investors continued to pour money in the world's largest asset manager's various funds. The S&P 500 banks index (.SPXBK) has lagged the broader S&P 500 (.SPX) this year with a 13% decline, while the KBW Regional Banking index (.KRX) has already lost 20% in its worst performance since 2009. Bank stocks lag S&P 500 this yearThe S&P 500 and the Dow Jones Industrial (.DJI) closed at almost two-month highs on Thursday as economic data showed cooling inflation and a loosening labor market, fueling optimism that the Fed could be nearing the end of its aggressive interest rate-hike cycle. Among other big-ticket earnings, healthcare conglomerate UnitedHealth Group Inc (UNH.N) beat estimates for quarterly profit and raised its annual forecast, pushing its shares up 0.7%. ET, Dow e-minis were down 9 points, or 0.03%, S&P 500 e-minis were down 4 points, or 0.10%, and Nasdaq 100 e-minis were down 68.75 points, or 0.52%.

☆ Stock futures are flat Thursday evening: Live updates
▼ + stars: | 2023-03-30 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., March 29, 2023. U.S. stock futures were flat on Thursday night. S&P 500 futures rose 0.03%, while Nasdaq 100 futures fell by less than 0.01%. "The semiconductors, [which] have come to be viewed as an important bellwether for global growth, delivered a strong performance," Krosby continued. "Economic concerns enveloping recession fears haven't vanished as the yield curve still represents a counter to the market's climb higher," Krosby added.

SummarySummary Companies First Republic Bank tumbles on suspending dividendFedEx jumps on full-year profit forecast raiseFutures mixed: Dow down 0.30%, S&P down 0.11%, Nasdaq up 0.10%March 17 (Reuters) - U.S. stock index futures were mixed on Friday as investors remained wary about a potential banking crisis despite the country's largest banks throwing troubled regional lender First Republic Bank a lifeline. Big U.S. banks were mixed, with JPMorgan and Citigroup (C.N) flat, while Wells Fargo (WFC.N) edged 0.1% higher. European Central Bank supervisors saw no contagion to euro zone banks from the recent market turmoil, a source said. Investors are now looking ahead to the Federal Reserve's interest rate decision, due next week, to gauge how it will tame inflation amid a banking crisis. Money market participants now see an 83% chance of the Fed raising rates by 25 basis points on March 22.

☆ Futures waver as banking crisis worries persist
▼ + stars: | 2023-03-17 | by ( ) www.reuters.com time to read: +3 min

Shares of First Republic Bank (FRC.N), however, fell 3.8% in premarket trading as the bank suspended its dividend payout. Concerns about a global banking crisis have dominated market sentiment this week after the collapse of SVB Financial (SIVB.O) and Signature Bank (SBNY.O). While the focus remains on the health of the banking sector, investors also looked ahead to U.S. central bank's policy meeting next week to gauge how it will tame inflation amid a banking crisis. Yield on the two-year Treasury note, which best reflects interest rate expectations, rose to 4.15% as some tensions about the banking sector abate. Shares of Fedex Corp (FDX.N) rose 11.1% premarket after the delivery giant raised full-year earnings forecast after cost cuts.

☆ Futures fall with eyes on earnings
▼ + stars: | 2023-02-06 | by ( ) www.reuters.com time to read: +2 min

Companies reporting quarterly results this week include Walt Disney Co (DIS.N) and PepsiCo Inc (PEP.O), while Tyson Foods Inc (TSN.N), Lowe's Cos Inc (LOW.N), Activision Blizzard Inc (ATVI.O) and Cummins Inc (CMI.N) report results later in the day. Halfway through the earnings of the S&P 500 companies, 69.6% have reported results above expectations, according to Refinitiv. Overall, analysts still expect quarterly earnings of S&P 500 firms declining 2.7%. Job growth in the U.S. accelerated sharply in January, with nonfarm payrolls surging by 517,000 jobs, well above an estimate of 185,000. ET, Dow e-minis were down 237 points, or 0.7%, S&P 500 e-minis were down 37 points, or 0.89%, and Nasdaq 100 e-minis were down 144.25 points, or 1.14%.

☆ Futures subdued as focus shifts to results from big U.S. banks
▼ + stars: | 2023-01-13 | by ( ) www.reuters.com time to read: +2 min

With the Federal Reserve's aggressive tightening campaign to combat inflation, higher borrowing costs have prompted consumers and businesses to curb their spending, impacting banks' profits as demand for credit slows. "Bank earnings are going to be a big test," said Michael Hewson, chief market analyst at CMC Markets UK. "It will be interesting to see whether they (banks) have made any further provisions for non-performing loans, how they see demand for loans." Delta Air Lines Inc (DAL.N), BlackRock Inc (BLK.N) and UnitedHealth Group Inc (UNH.N) are also scheduled to report fourth-quarter earnings on Friday. ET, Dow e-minis were up 10 points, or 0.03%, S&P 500 e-minis were down 0.5 points, or 0.01%, and Nasdaq 100 e-minis were down 16.5 points, or 0.14%.

Megacap growth stocks Apple Inc (AAPL.O), Alphabet Inc (GOOGL.O) and Microsoft Corp (MSFT.O) gained over 2% each as U.S. Treasury yields declined. The highly awaited U.S. Labor Department's inflation report on Thursday is expected to show some moderation in year-on-year consumer prices in December. Advancing issues outnumbered decliners for a 4.45-to-1 ratio on the NYSE and a 2.54-to-1 ratio on the Nasdaq. The S&P index recorded 12 new 52-week highs and two new lows, while the Nasdaq recorded 107 new highs and 18 new lows. Reporting by Shubham Batra, Amruta Khandekar and Ankika Biswas in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

"The number of jobs created is working its way down slowly and wages are starting to calm down. Money market bets show 75% odds of a 25-basis point hike in the Fed's February policy meeting, with the terminal rate expected just below 5% by June. ET, Dow e-minis were up 103 points, or 0.30%, S&P 500 e-minis were up 16 points, or 0.41%, and Nasdaq 100 e-minis were up 56.75 points, or 0.51%. Macy's Inc (M.N) and Lululemon Athletica Inc (LULU.O) dropped 4.7% and 10%, respectively, following dour holiday-quarter forecasts from both the retailers. Reporting by Shubham Batra, Amruta Khandekar and Ankika Biswas in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

☆ Futures rise on China reopening optimism, easing rate hike worries
▼ + stars: | 2023-01-09 | by ( ) www.reuters.com time to read: +3 min

A key inflation report due on Thursday will provide further cues on the state of price pressures and the outlook for interest rates. The U.S. Labor Department's consumer prices index (CPI) report is expected to show prices increased by 6.5% year-on-year in December, moderating from a 7.1% rise in November. "Sentiment still feels as fragile as a teacup and U.S. inflation numbers on Thursday could provide a key test for investor confidence." ET, Dow e-minis were up 89 points, or 0.26%, S&P 500 e-minis were up 12.5 points, or 0.32%, and Nasdaq 100 e-minis were up 30.25 points, or 0.27%. Reporting by Shubham Batra and Amruta Khandekar in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

Other rate-sensitive growth stocks like Apple Inc (AAPL.O) and Alphabet Inc (GOOGL.O) gained about 1% each as U.S. Treasury yields declined. The gains pushed technology (.SPLRCT) to the top of the major S&P 500 sector indexes list. The S&P 500 growth index (.IGX) was up 3.6%, outperforming a 0.7% rise in its value peers (.IVX). Advancing issues outnumbered decliners for a 3.68-to-1 ratio on the NYSE and a 2.15-to-1 ratio on the Nasdaq. The S&P index recorded 10 new 52-week highs and two new lows, while the Nasdaq recorded 95 new highs and 14 new lows.

☆ Futures steady ahead of November inflation data
▼ + stars: | 2022-12-23 | by ( ) www.reuters.com time to read: +2 min

SummarySummary Companies Futures up: Dow 0.37%, S&P 0.31%, Nasdaq 0.28%Dec 23 (Reuters) - U.S. stock index futures inched higher on Friday as investors awaited fresh inflation data to assess the Federal Reserve's path of future interest rate hikes, with the central bank's policy tightening weighing heavily on equities this year. The core personal consumption expenditure price index, the Fed's preferred inflation gauge, is expected to have increased 0.2% in November after a similar rise in October. Wall Street's main indexes fell sharply on Thursday after data showed a resilient American economy that may push the central bank to keep hiking rates for longer. Markets are in wait-and-see mode ahead of key inflation figures, which will provide some clues about the Fed's next move," said Victoria Scholar, head of investment at Interactive Investor. ET, Dow e-minis were up 122 points, or 0.37%, S&P 500 e-minis were up 11.75 points, or 0.31%, and Nasdaq 100 e-minis were up 31.5 points, or 0.28%.

☆ S&P 500, Nasdaq snap losing streaks after jobless claims rise
▼ + stars: | 2022-12-08 | by ( David French | ) www.reuters.com time to read: +4 min

Wall Street's main indexes had come under pressure in recent days, with the S&P 500 shedding 3.6% since the beginning of December on expectations of a longer rate-hike cycle and downbeat economic views from some top company executives. Such thinking had also weighed on the Nasdaq Composite (.IXIC), which had posted four straight losing sessions prior to Thursday's advance on the tech-heavy index. Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., December 7, 2022. REUTERS/Brendan McDermidNine of the 11 major S&P 500 sectors rose, led by a 1.6% gain in technology stocks (.SPLRCT). The S&P 500 posted 15 new 52-week highs and three new lows; the Nasdaq Composite recorded 82 new highs and 232 new lows.

SummarySummary Companies Weekly jobless claims rise in line with estimatesSalesforce slips on downgradeIndexes up: Dow 0.72%, S&P 0.82%, Nasdaq 1.19%Dec 8 (Reuters) - The S&P 500 gained ground on Thursday, lifted by technology and energy shares, while a rise in weekly jobless claims suggested the labor market was slowing down. "More people are filing jobless claims, which shows labor forces are weakening a little bit," said Thomas Hayes, chairman at Great Hill Capital LLC in New York. Ten of the 11 major S&P 500 sector indexes rose, led by 1.5% gain in technology stocks (.SPLRCT). Most mega-cap technology and growth stocks such as Apple Inc (AAPL.O), Nvidia Corp (NVDA.O) and Amazon.com (AMZN.O) rose between 1.4% and 4.2%. The S&P index recorded 11 new 52-week highs and two new lows, while the Nasdaq recorded 53 new highs and 132 new lows.

☆ Futures edge up ahead of jobs data, recession fears loom
▼ + stars: | 2022-12-08 | by ( ) www.reuters.com time to read: +3 min

SummarySummary Companies Futures up: Dow 0.02%, S&P 0.13%, Nasdaq 0.24%Dec 8 (Reuters) - U.S. stock index futures edged up on Thursday ahead of weekly jobless claims data, while fears of an impending recession brought on by an aggressive Federal Reserve kept investors on edge. The U.S. central bank has raised its policy rate by 375 basis points this year to a 3.75%-4.00% range from near zero, the fastest rate hikes since the 1980s. This aggressive approach by the central bank has stoked worries of a recession, with top executives of major U.S. banks and institutions including JPMorgan, BlackRock and Citi forecasting a likely economic downturn in 2023. "The yield curve is hideously inverted, recession is coming, and stock markets usually bottom only after a recession has started," said Luke Templeman, thematic research analyst at Deutsche Bank. ET, Dow e-minis were up 6 points, or 0.02%, S&P 500 e-minis were up 5.25 points, or 0.13%, and Nasdaq 100 e-minis were up 28 points, or 0.24%.

"It's just one data point that leads to the Fed cooling down their aggressive hikes, but it doesn't change December's 50 basis point (rate hike). The key is going to be the data between December and February as to what they do next." The U.S. central bank has raised its policy rate by 375 basis points this year in the fastest hikes since the 1980s. Adding to the fears, the yield curve between the 2-year and 10-year Treasury notes has also widened in the recent days. ET, Dow e-minis were up 148 points, or 0.44%, S&P 500 e-minis were up 22.5 points, or 0.57%, and Nasdaq 100 e-minis were up 65.5 points, or 0.57%.

☆ S&P, Nasdaq extend losing streaks amid rising recession worries
▼ + stars: | 2022-12-07 | by ( David French | ) www.reuters.com time to read: +5 min

[1/2] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., November 29, 2022. For the benchmark S&P 500 (.SPX), it was the fifth straight session that it has declined, while the Nasdaq (.IXIC) finished down for the fourth time in a row. The S&P 500 (.SPX) lost 7.34 points, or 0.19%, to close at 3,933.92 and the Nasdaq Composite (.IXIC) dropped 56.34 points, or 0.51%, to finish at 10,958.55. The S&P 500 is on track to snap a three-year winning streak. The S&P 500 posted seven new 52-week highs and seven new lows; the Nasdaq Composite recorded 61 new highs and 307 new lows.

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