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☆ AGCO Corp to acquire $2 billion stake in Trimble unit to boost agri portfolio
▼ + stars: | 2023-09-28 | by ( Kannaki Deka | ) www.reuters.com time to read: +2 min

People look at AGCO equipment as they attend National Farm Machinery show in Louisville, Kentucky, February 12, 2016. REUTERS/Meredith Davis/File Photo Acquire Licensing RightsSept 28 (Reuters) - AGCO Corp (AGCO.N) said on Thursday it would acquire an 85% stake in navigation products maker Trimble's (TRMB.O) agribusiness for $2.0 billion in cash as the tractor and seeding equipment firm seeks to boost its precision-agriculture portfolio. "This deal significantly enhances AGCO's technology stack with disruptive technologies that cover every aspect of the crop cycle," AGCO Chief Executive Eric Hansotia said. The precision-agriculture approach employs technology and the global positioning system to ensure that seeds, fertilizer and chemicals are used correctly. The stake's purchase price represents an implied enterprise value of about $2.35 billion for the business, AGCO said.

Persons: Meredith Davis, Eric Hansotia, Oppenheimer, Trimble, AGCO, Morgan Stanley, Kannaki, Vinay Dwivedi Organizations: Farm Machinery, REUTERS, AGCO, Thomson Locations: Louisville , Kentucky, Ukraine, Bengaluru

☆ UPS to hire over 100,000 seasonal workers ahead of holiday rush
▼ + stars: | 2023-09-26 | by ( ) www.reuters.com time to read: +2 min

United Parcel Service (UPS) vehicles are seen at a facility in Brooklyn, New York City, U.S., May 9, 2022. REUTERS/Andrew Kelly Acquire Licensing RightsSept 26 (Reuters) - United Parcel Service (UPS.N) said on Tuesday it would hire more than 100,000 seasonal workers to handle the 2023 holiday rush, a similar number of employees it hired a year earlier during the same period. Both UPS and rival FedEx Corp (FDX.N) hire thousands of temporary workers each year to move more parcels between the months of October and January. Analysts expect holiday sales to grow at a slower pace this year as high inflation eats into household budgets. A report from career consultancy firm Challenger, Gray & Christmas showed that weaker spending and increased labor costs would result in U.S. retailers hiring the lowest number of seasonal workers this year since 2008.

Persons: Andrew Kelly, Mehr Bedi, Priyamvada, Vinay Dwivedi Organizations: Parcel Service, REUTERS, United Parcel Service, UPS, FedEx Corp, Teamsters, FedEx, Analysts, Challenger, Thomson Locations: Brooklyn , New York City, U.S, Atlanta, Bengaluru

☆ Dick's Sporting Goods' proposed holiday hiring slips to 8,600 amid higher labor costs
▼ + stars: | 2023-09-26 | by ( ) www.reuters.com time to read: +1 min

Sept 26 (Reuters) - Athletic-wear retailer Dick's Sporting Goods (DKS.N) said on Tuesday it would recruit 8,600 workers across the United States for the holiday shopping season, less than its proposed hiring for the same period a year earlier. The company's announcement comes close on the heels of conservative holiday hiring plans announced by retailers Target (TGT.N) and department store retailer Macy's (M.N) last week. Dick's Sporting Goods last year had said it would hire 9,000 temporary employees for the holiday season. A report by Challenger, Gray & Christmas earlier this month showed that retailers in the U.S. would hire the lowest number of seasonal workers this holiday season since 2008, as they battle increased labor costs. Sporting goods retailers such as Dick's Sporting Goods, Nike (NKE.N) and Foot Locker (FL.N) are battling weak wholesale demand in the U.S. as consumers cut down on spending on pricier discretionary items such as sporting apparel.

Persons: Juveria, Vinay Dwivedi Organizations: Sporting, Target, Dick's Sporting Goods, Challenger, Deloitte, Nike, Thomson Locations: United States, U.S

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 15, 2023. "The prospect of rates staying higher for longer has given investors a lingering headache," said Russ Mould, investment director at AJ Bell. "Many had hoped we would approach the end of 2023 with a clearer picture on when rates will start to be cut." ET, Dow e-minis were up 36 points, or 0.1%, S&P 500 e-minis were up 11 points, or 0.25%, and Nasdaq 100 e-minis were up 68.5 points, or 0.46%. Wayfair (W.N) rose 2.6% after Bernstein upgraded the online furniture retailer to "market perform" from "underperform", citing improving revenue growth and margins.

Persons: Brendan McDermid, dampening, Russ Mould, AJ Bell, Neel Kashkari, Lisa Cook, Li Auto, Alibaba, Bernstein, Ankika Biswas, Shristi, Anil D'Silva, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Activision, Microsoft, Dow, Nasdaq, U.S, Treasury, Apple, Nvidia, P Global, PMI, Minneapolis, Detroit, Dow e, PDD Holdings, Baidu, Hong, Thomson Locations: New York City, U.S, Hong Kong, Bengaluru

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 15, 2023. Ford Motor (F.N) advanced 2.5% after Reuters reported the United Auto Workers (UAW) was set to announce progress in labor contract talks with the carmaker. Several Fed policymakers, including policy voting member Minneapolis President Neel Kashkari, are set to speak during the day. Advancing issues outnumbered decliners by a 2.11-to-1 ratio on the NYSE and by a 1.44-to-1 ratio on the Nasdaq. The S&P index recorded one new 52-week high and 26 new lows, while the Nasdaq recorded 14 new highs and 102 new lows.

Persons: Brendan McDermid, dampening, Jason Pride, Neel Kashkari, Li Auto, Alibaba, Bernstein, Wells, Ankika Biswas, Shristi, Anil D'Silva, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Activision, Microsoft, Ford, Reuters, UAW, Dow, Nasdaq, United Auto Workers, U.S, Treasury, Apple, Nvidia, Minneapolis, Dow Jones, PDD Holdings, Baidu, Hong, Charter Communications, NYSE, Thomson Locations: New York City, U.S, Glenmede, Philadelphia, Hong Kong, Bengaluru

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 15, 2023. "While the dot plots suggest upside risks to interest rates, we retain our expectations that the hike cycle is likely done and for the Fed not to raise rates again," Mark Haefele Chief Investment Officer, UBS Global Wealth Management, said in a note. Meanwhile, weak performance of recent listings after their debut highs has dampened hopes of a likely revival in the initial public offering market amid high interest rates and broader market declines. Arm Holdings also fell 3.0% to $51.3 premarket, nearing its IPO price of $51 per share while Instacart (CART.O) lost 1.4%. ET, Dow e-minis were down 188 points, or 0.54%, S&P 500 e-minis were down 34.75 points, or 0.78%, and Nasdaq 100 e-minis were down 160.75 points, or 1.06%.

Persons: Brendan McDermid, Mark, Ankika Biswas, Shristi, Arun Koyyur, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, FedEx, Broadcom, Google, Dow, Nasdaq, Federal Reserve, Apple, Nvidia, Wall, UBS Global Wealth Management, Arm Holdings, Dow e, Marvell Technology, Marvell, Warner Bros Discovery, Paramount Global, Writers Guild of America, WGA, Thomson Locations: New York City, U.S, Bengaluru

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 15, 2023. Rate-sensitive stocks including Tesla (TSLA.O), Meta Platforms (META.O), Amazon.com (AMZN.O), Alphabet (GOOGL.O), and Nvidia (NVDA.O) fell between 1.5% and 3.0% as the two-year and 10-year Treasury yields , scaled multi-year highs. The benchmark interest rate could be hiked one more time in 2023 to a peak range of 5.50%-5.75%, while monetary policy could stay tighter than was expected through 2024, the Fed's updated quarterly projections showed. Declining issues outnumbered advancers by a 7.06-to-1 ratio on the NYSE and by a 3.86-to-1 ratio on the Nasdaq. The S&P index recorded two new 52-week highs and 16 new lows, while the Nasdaq recorded seven new highs and 207 new lows.

Persons: Brendan McDermid, Sam Stovall, Stovall, Rupert Murdoch, Ankika Biswas, Shristi, Arun Koyyur, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, FedEx, Broadcom, Google, Dow, Nasdaq, Federal Reserve, Nvidia, Semiconductor, Marvell Technology, SOX, Wall, Research, Arm Holdings, Dow Jones, Fox Corp, News Corp, NYSE, Thomson Locations: New York City, U.S, Philadelphia, New York, Bengaluru

Trader works on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., March 30, 2023. REUTERS/Brendan McDermid Acquire Licensing RightsSept 20 (Reuters) - Shares of Klaviyo (KVYO.N) were set to open up to 23% above their IPO price on Wednesday, giving the marketing automation company a potential valuation of $11.4 billion. The stock was indicated to open between $35 and $37, compared with the initial public offering (IPO) price of $30. The Boston-based company's IPO of 19.2 million shares was priced above range on Tuesday, raising $576 million in proceeds, part of which will go to existing investors who cashed out some of their holdings. BlackRock (BLK.N) and AllianceBernstein have agreed to buy up to $100 million worth of shares each, accounting for a big chunk of the total IPO proceeds.

Persons: Brendan McDermid, AllianceBernstein, Andrew Bialecki, Ed Hallen, Klaviyo, Jaiveer Singh, Anil D'Silva, Vinay Dwivedi, Shounak Organizations: New York Stock Exchange, REUTERS, BlackRock, Thomson Locations: New York City, U.S, Boston, Bengaluru

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 11, 2023. ET, with investors focused on Fed economic projections and Chair Jerome Powell's comments for clues on the outlook for rates and inflation. Reinforcing the likelihood of a Fed pause, U.S. Treasury yields retreated from their 2007 highs hit in the previous session. Investors are now looking forward to marketing automation company Klaviyo's (KVYO.N) debut on the New York Stock Exchange, with the stock last indicated to open between $36 and $38. The S&P index recorded 10 new 52-week highs and four new lows, while the Nasdaq recorded 33 new highs and 140 new lows.

Persons: Brendan McDermid, Jerome Powell's, Mark Luschini, Janney Montgomery Scott, Ankika Biswas, Shristi, Arun Koyyur, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Coty, Citigroup, Dow, Nasdaq, Treasury, Microsoft, Apple, Arm Holdings, Investors, Dow Jones, NYSE, Thomson Locations: New York City, U.S, Boston, Bengaluru

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 11, 2023. Energy (.SPNY) was the top S&P 500 sector gainer, up 1.1%, as crude prices firmed near the $95-per-barrel mark on tight supply. Chipmaker Micron Technology (MU.O) rose 1.3%, following Friday's rout, after Deutsche Bank upgraded its stock rating to "buy" from "hold". Declining issues outnumbered advancers by a 1.02-to-1 ratio on the NYSE and by a 1.46-to-1 ratio on the Nasdaq. The S&P index recorded five new 52-week highs and 11 new lows, while the Nasdaq recorded 24 new highs and 172 new lows.

Persons: Brendan McDermid, Bernstein, Piper Sandler, Paul Nolte, Goldman Sachs, Janus Henderson, Wells, MoffettNathanson, Ankika Biswas, Shristi, Savio D'Souza, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Corp, Holdings, Micron, L3Harris, Dow, Nasdaq, Energy, VF, Microsoft, U.S, Treasury, Murphy, Sylvest Wealth Management, Traders, Morgan Asset Management, Janus Henderson Investors, Arm Holdings, Dow Jones, Chipmaker Micron Technology, Deutsche Bank, L3Harris Technologies, PayPal Holdings, NYSE, Thomson Locations: New York City, U.S, Bengaluru

A slew of recent hotter-than-expected economic data has eased recession concerns without raising fears of a September rate hike. "Further rate hikes would risk sending the economy into a hard landing," said Thomas Simons, U.S. economist at Jefferies. "Instead, the Fed can look to a strategy of maintaining current policy rates for a long time as the best way to administer restrictive monetary policy to the economy." ET, Dow e-minis were up 31 points, or 0.09%, S&P 500 e-minis were up 5.25 points, or 0.12%, and Nasdaq 100 e-minis were up 23 points, or 0.15%. Asset management firm Blackstone Inc (BX.N) and vacation rentals platform Airbnb (ABNB.O), which are set to join the S&P 500 before the bell on Monday, were down 0.5% and 0.1%, respectively.

Persons: Brendan McDermid, Blackstone, Thomas Simons, Goldman Sachs, Janus Henderson, Wells, Ankika Biswas, Shristi, Savio D'Souza, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Micron, Deutsche Bank, Airbnb, Dow, Nasdaq, Federal Reserve, Traders, Jefferies, Morgan Asset Management, Janus Henderson Investors, Bank of England, Bank of, Dow e, Micron Technology, Blackstone Inc, L3Harris Technologies, Thomson Locations: New York City, U.S, Bank of Japan, Bengaluru

REUTERS/Brendan McDermid Acquire Licensing RightsReuters Graphics Reuters GraphicsThe S&P 500 dropped 1.22% to end at 4,450.32 points. All 11 S&P 500 sector indexes declined, led lower by information technology (.SPLRCT), down 1.95%, followed by a 1.88% loss in consumer discretionary (.SPLRCD). For the week, the S&P 500 fell 0.16% and the Nasdaq lost 0.39%. Declining stocks outnumbered rising ones within the S&P 500 (.AD.SPX) by a 4.4-to-one ratio. The S&P 500 posted seven new highs and eight new lows; the Nasdaq recorded 48 new highs and 216 new lows.

Persons: chipmakers, Lam, Stoking, Lisa Erickson, Brendan McDermid, Amgen, Japan's, Ankika Biswas, Shristi, Noel Randewich, Vinay Dwivedi, Richard Chang Organizations: Nasdaq, Dow, Lam Research, KLA Corp, Reuters, Nvidia, Devices, Broadcom, Micron Technology, Philadelphia Semiconductor, United Auto Workers ', General Motors, Ford, Chrysler, Federal Reserve, U.S, Bank Wealth Management, Traders, Microsoft, Adobe, New York Stock Exchange, REUTERS, Reuters Graphics Reuters, Dow Jones, SoftBank's Arm Holdings, Neumora Therapeutics, Thomson Locations: U.S, Minneapolis, New York City, Bengaluru, Oakland , California

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 29, 2023. SoftBank's Arm Holdings gained 6.5% after a stellar Nasdaq debut on Thursday, rekindling hopes of a turnaround in the initial public offering (IPO) market. U.S.-listed shares of Alibaba Group Holdings , JD.com , PDD Holdings (PDD.O) and Xpeng rose between 0.1% and 1.6%. ET, Dow e-minis were up 85 points, or 0.24%, S&P 500 e-minis were up 6 points, or 0.13%, and Nasdaq 100 e-minis were down 4.5 points, or 0.03%. Reporting by Ankika Biswas and Shristi Achar A in Bengaluru Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, Lam, Taiwan's TSMC, Stellantis, rekindling, Russ Mould, AJ Bell, Ankika Biswas, Shristi, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Ford, Motors, UAW, Dow, Nasdaq, Lam Research, KLA Corp, Reuters, Ford Motor, General Motors, United Auto Workers, Chrysler, SoftBank's Arm Holdings, Nvidia, there's, Therapeutics, Reuters Graphics Reuters, Traders, Federal Reserve, University of, Alibaba Group Holdings, PDD Holdings, Dow e, Thomson Locations: New York City, U.S, Bengaluru

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 11, 2023. Chipmakers including Nvidia (NVDA.O), Micron Technology (MU.O) and Advanced Micro Devices (AMD.O) added between 0.7% and 1.2% before the bell. Citigroup also expects the Fed to hike interest rates by 25-basis points in November, compared with its previous forecast of a September hike. ET for further clues on the trajectory for U.S. interest rates ahead of the Federal Reserve's policy meeting next week. Meanwhile, investors largely expect another European Central Bank rate hike later in the day, which will take interest rates to a record high, amid sticky inflation and a deteriorating economy.

Persons: Brendan McDermid, Emin Hajiyev, Warren Buffett's Berkshire Hathaway, Ankika Biswas, Shristi, Saumyadeb Chakrabarty, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Vital Energy, Dow, Nasdaq, Wall, Arm Holdings, Nvidia, Micron Technology, Devices, Insight Investment, Tool, Citigroup, Apple, Google, Microsoft, Treasury, Central Bank, Dow e, HP, Visa, Thomson Locations: New York City, U.S, Bengaluru

The S&P 500 climbed 0.12% to end the session at 4,467.44 points. The Nasdaq gained 0.29% to 13,813.59 points, while the Dow Jones Industrial Average declined 0.20% to 34,575.53 points. The S&P 500 consumer discretionary index (.SPLRCD) climbed 0.9%, lifted as Ford Motor (F.N) rallied 1.5% on the vehicle maker's plans to double the production of its hybrid F-150 pickup trucks in 2024. Declining stocks outnumbered rising ones within the S&P 500 (.AD.SPX) by a 1.5-to-one ratio. The S&P 500 posted 10 new highs and 11 new lows; the Nasdaq recorded 20 new highs and 199 new lows.

Persons: Victoria Fernandez, Raindrops, Mike Segar, that's, Keith Buchanan, Jane Fraser, Xpeng, Ankika Biswas, Shristi, Shubham Batra, Noel Randewich, Savio D'Souza, Vinay Dwivedi, Deepa Babington Organizations: Citi, Nasdaq, Dow, Federal Reserve, Microsoft, Dow Jones, Ford, Crossmark Global Investment, Wall, New York Stock Exchange, REUTERS, GLOBALT Investments, Reuters Graphics Reuters, Citigroup, European Commission, Sprit Airlines, Moderna, Thomson Locations: Manhattan, New York City , New York, U.S, Atlanta, Bengaluru, Oakland, Calif

Megacap growth stocks Tesla (TSLA.O), Meta Platforms (META.O), Microsoft (MSFT.O) and Amazon.com (AMZN.O) gained for much of the session. According to preliminary data, the S&P 500 (.SPX) gained 5.87 points, or 0.13%, to end at 4,467.77 points, while the Nasdaq Composite (.IXIC) gained 39.96 points, or 0.29%, to 13,813.59. Data showed consumer prices increased by the most in 14 months in August as gasoline prices surged, but the annual rise in underlying inflation was the smallest in nearly two years. Raindrops hang on a sign for Wall Street outside the New York Stock Exchange in Manhattan in New York City, New York, U.S., October 26, 2020. Reuters Graphics Reuters GraphicsThe Fed is unlikely to cut rates before the April-June period next year, a Reuters poll showed.

Persons: Victoria Fernandez, Mike Segar, that's, Keith Buchanan, Jane Fraser, Xpeng, Ankika Biswas, Shristi, Shubham Batra, Noel Randewich, Savio D'Souza, Vinay Dwivedi, Deepa Babington Organizations: Citi, Federal Reserve, Microsoft, Apple, Nasdaq, Dow Jones, Ford, Crossmark Global Investment, Wall, New York Stock Exchange, REUTERS, GLOBALT Investments, Reuters Graphics Reuters, Citigroup, European Commission, Sprit, Moderna, Thomson Locations: Manhattan, New York City , New York, U.S, Atlanta, Bengaluru, Oakland, Calif

Raindrops hang on a sign for Wall Street outside the New York Stock Exchange in Manhattan in New York City, New York, U.S., October 26, 2020. REUTERS/Mike Segar/File Photo Acquire Licensing RightsSummaryCompanies Spirit Airlines slips on revenue outlook cutFord rises on plans to double production of pickup trucksConsumer prices data due at 8:30 a.m. ETFutures down: Dow 0.12%, S&P 0.12%, Nasdaq 0.15%Sept 13 (Reuters) - U.S. stock index futures inched lower on Wednesday as higher oil prices fuel worries about sticky inflation and stoke interest-rate concerns ahead of CPI data. "All indications are that higher oil costs are going to influence the headline inflation print. Investors will also closely monitor August producer prices and retail sales data on Thursday ahead of the Fed's Sept. 20 policy decision.

Persons: Mike Segar, Tim Waterer, Li Auto, Ankika Biswas, Shristi, Shubham Batra, Savio D'Souza, Vinay Dwivedi Organizations: Wall, New York Stock Exchange, REUTERS, Spirit Airlines, Dow, Nasdaq, stoke, Labor, KCM, Federal Reserve, Dow e, Apple, Li, European Commission, Sprit Airlines, Moderna, Thomson Locations: Manhattan, New York City , New York, U.S, Xpeng, Bengaluru

A Wall Street sign is pictured outside the New York Stock Exchange in New York, October 28, 2013. Investors await August consumer prices data, due on Wednesday, and producer prices scheduled on Thursday, followed by the Fed's policy decision on Sept. 20. A recent uptick in oil prices and strong economic data have fueled concerns over stubborn inflation, clouding the outlook for an end to U.S. monetary tightening. Investors will also monitor the European Central Bank's policy decision on Thursday, where it is seen holding rates after nine consecutive hikes. ET, Dow e-minis were down 48 points, or 0.14%, S&P 500 e-minis were down 9 points, or 0.2%, and Nasdaq 100 e-minis were down 27.5 points, or 0.18%.

Persons: Carlo Allegri, Wall, Morgan Stanley, BoE, Mohit Kumar, Ankika Biswas, Shristi, Arun Koyyur, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Kappa, Dow, Nasdaq, Microsoft, Investors, Fed, ECB, Jefferies, Dow e, Oracle, Paramount Global, Amusements, Thomson Locations: New York, U.S, Bengaluru

Smucker's $5.6 bln buyout dealIndexes: S&P 500 +0.67%, Nasdaq +1.14%, Dow +0.25%Sept 11 (Reuters) - The Nasdaq closed sharply higher on Monday as Tesla surged on optimism around artificial intelligence and investors awaited inflation data due later this week. The S&P 500 climbed 0.67% to end at 4,487.46 points. Hostess Brands (TWNK.O) surged 19.1% after J. M. Smucker (SJM.N) said it would buy the Twinkies-maker in a $5.6 billion deal. Advancing issues outnumbered falling ones within the S&P 500 (.AD.SPX) by a 1.5-to-one ratio. The S&P 500 posted 14 new highs and 11 new lows; the Nasdaq recorded 36 new highs and 199 new lows.

Persons: Brendan McDermid, Morgan Stanley, Tesla, megacaps, Walt Disney, Greg Bassuk, chipmaker, Ankika Biswas, Shreyashi Sanyal, Shubham Batra, Noel Randewich, Arun Koyyur, Vinay Dwivedi, Richard Chang Organizations: New York Stock Exchange, REUTERS, Qualcomm, Apple Hostess Brands, Nasdaq, Dow, Amazon, Microsoft, Sunday, Charter Communications, ESPN, NFL, Federal, New York Fed, PPI, AXS Investments, Traders, Dow Jones, Apple, Hostess Brands, Thomson Locations: New York City, U.S, New York, Bengaluru, Oakland, Calif

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 29, 2023. REUTERS/Brendan McDermid Acquire Licensing RightsSummaryCompanies Tesla gains on Morgan Stanley upgradeQualcomm up after deal to supply 5G chips to AppleHostess Brands up after J.M. The S&P 500 consumer discretionary stocks (.SPLRCD) rose 2.2% to their highest level in a month, leading gains in key S&P 500 sectors. Investors now await the crucial consumer and producer prices data as well as retail sales numbers due later this week. Wall Street had logged weekly losses on Friday after a recent uptick in oil prices and stronger-than-expected economic data fueled concerns of sticky inflation and interest rates staying higher for longer.

Persons: Brendan McDermid, Morgan Stanley, Tesla, Anthony, chipmaker, Ankika Biswas, Shreyashi Sanyal, Shubham Batra, Arun Koyyur, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Qualcomm, Apple Hostess Brands, Dow, Nasdaq, U.S, Apple, Microsoft, Energy, Investors, New York Fed, Traders, FedWatch, Fed, Dow Jones, Nvidia, Hostess Brands, Sunday, NYSE, Thomson Locations: New York City, U.S, megacaps, U.S . Federal, Bengaluru

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 29, 2023. REUTERS/Brendan McDermid Acquire Licensing RightsSummaryCompanies Tesla gains on Morgan Stanley upgradeBoeing rises after Vietnam Airlines jet dealFutures up: Dow 0.23%, S&P 0.44%, Nasdaq 0.63%Sept 11 (Reuters) - Wall Street futures gained on Monday as Tesla shares rose, while investors awaited inflation data due later this week for clues on the U.S. Federal Reserve's interest-rate path. The three major indexes logged weekly declines on Friday as strength in oil prices and stronger-than-expected economic data fueled concerns of sticky inflation and interest rates staying higher for longer. Investors now await the crucial consumer and producer prices data as well as retail sales numbers due later this week. Data over the weekend showed China's consumer prices returned to positive territory in August, while factory-gate price declines slowed, as deflation pressures ease amid signs of stabilization in the economy.

Persons: Brendan McDermid, Morgan Stanley, Russ Mould, AJ Bell, Ankika Biswas, Shreyashi Sanyal, Arun Koyyur, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Boeing, Vietnam Airlines, Dow, Nasdaq, Wall, U.S, Investors, FedWatch, Dow e, Apple, Hostess Brands, PDD Holdings, Baidu, Sunday, Thomson Locations: New York City, U.S, U.S . Federal, China, Bengaluru

Are higher rates going to lead to some slow down in conjunction with the dwindling of excess consumer savings," said Lefkowitz, who also cited concerns about high valuations in equities. The Dow Jones Industrial Average (.DJI) rose 75.86 points, or 0.22%, to 34,576.59, the S&P 500 (.SPX) gained 6.35 points, or 0.14%, to 4,457.49 and the Nasdaq Composite (.IXIC) added 12.69 points, or 0.09%, to 13,761.53. For the week, which was shortened by Monday's Labor Day holiday, the S&P 500 fell 1.3%, while the Nasdaq lost 1.9% with both snapping two weeks of gains. After losing 2.9% in two sessions, the S&P 500 technology sector (.SPLRCT) closed higher. The S&P 500 posted 13 new 52-week highs and 17 new lows; the Nasdaq Composite recorded 36 new highs and 229 new lows.

Persons: David Lefkowitz, Lefkowitz, Brendan McDermid, Phil Blancato, Ladenburg, John Williams, Lorie Logan, Ryan Cohen, Sinéad Carew, Chuck Mikolajczak, Gertrude Chavez, Dreyfuss, Shristi, Arun Koyyur, Vinay Dwivedi, David Gregorio Our Organizations: Gilead Sciences, Kroger, Dow, Nasdaq, Index, UBS Global Wealth Management, Dow Jones, Monday's Labor, Apple, New York Stock Exchange, REUTERS, Asset Management, York Fed, Dallas, BofA Securities, GameStop, U.S . Securities, Exchange Commission, NYSE, Thomson Locations: Beijing, New York City, U.S, New York, Bengaluru

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 15, 2023. Are higher rates going to lead to some slow down in conjunction with the dwindling of excess consumer savings," said Lefkowitz, who also cited concerns about high equity valuations. According to preliminary data, the S&P 500 (.SPX) gained 6.85 points, or 0.15%, to end at 4,457.62 points, while the Nasdaq Composite (.IXIC) gained 12.69 points, or 0.09%, to 13,761.53. Oil prices are up so far in September and on track for a fourth straight monthly gain, and this week's data also fueled inflation fears. This included stronger-than-expected services activity data and a fall in weekly jobless claims.

Persons: Brendan McDermid, David Lefkowitz, Lefkowitz, Phil Blancato, Ladenburg, John Williams, Lorie Logan, Sinéad Carew, Shristi, Arun Koyyur, Vinay Dwivedi, David Gregorio Our Organizations: New York Stock Exchange, REUTERS, Index, Federal, FedWatch, Treasury, UBS Global Wealth Management, Nasdaq, Dow Jones, Asset Management, York Fed, Dallas, Thomson Locations: New York City, U.S, New York, Bengaluru

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 15, 2023. U.S. Treasury yields edged lower on Friday, helping boost major growth stocks, with Microsoft (MSFT.O) leading gains, up 1.9%, and Meta Platforms (META.O) advancing nearly 1%. The S&P 500 information technology (.SPLRCT) sector rose 0.6% while energy stocks (.SPNY) rose 1.3% to their highest level in over seven months, tracking an uptick in crude prices. Advancing issues outnumbered decliners by a 1.64-to-1 ratio on the NYSE and by a 1.01-to-1 ratio on the Nasdaq. The S&P 500 recorded 13 new 52-week highs and 14 new lows, while the Nasdaq posted 31 new highs and 160 new lows.

Persons: Brendan McDermid, Morgan Stanley, Phil Blancato, Ladenburg, John Williams, Lorie Logan, Ryan Cohen, Shristi Achar, Arun Koyyur, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Gilead Sciences, Kroger, Dow, Nasdaq, Apple, Microsoft, Treasury, Wall, Federal Reserve, Index, Federal, Asset Management, FedWatch, New York Fed, Dallas, Dow Jones, BofA Securities, GameStop, U.S . Securities, Exchange Commission, NYSE, Thomson Locations: New York City, U.S, Beijing, Bengaluru

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 15, 2023. The Consumer Price Index reading for August is due on Sept. 13, while the Federal Reserve's policy decision is scheduled for Sept. 20. New York Fed President John Williams kept his options open over future interest rate policy and Dallas Fed President Lorie Logan said while it "could be appropriate" to skip a rate hike in the upcoming meeting, more policy tightening might be needed. DocuSign (DOCU.O) added 3.1% as the e-Signature product provider beat second-quarter results estimates and raised its annual revenue forecast. GameStop (GME.N) fell 2.3% on a report that the U.S. Securities and Exchange Commission was investigating the videogame retailer's chairman, Ryan Cohen.

Persons: Brendan McDermid, Mark Haefele, Morgan Stanley, John Williams, Lorie Logan, Mary Daly, Ryan Cohen, Shristi Achar, Arun Koyyur, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Mizuho, Dow, Nasdaq, Federal, UBS Global Wealth Management, Traders, FedWatch, Apple, Wall, Dow e, . New York Fed, Dallas Fed, San Francisco Federal Reserve Bank, GameStop, U.S . Securities, Exchange Commission, Thomson Locations: New York City, U.S, Beijing, China, Bengaluru

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