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☆ A Delta flight carrying 96 passengers made a dramatic emergency landing after its front landing gear failed
▼ + stars: | 2023-06-29 | by ( Amanda Goh | ) www.businessinsider.com time to read: +4 min

A Delta Air Lines plane carrying 96 passengers made an emergency landing in North Carolina on Wednesday. A Delta Air Lines flight made an emergency landing in North Carolina on Wednesday after its front landing gears failed to deploy. The Boeing 717, which departed from Atlanta, was approaching Charlotte Douglas International Airport when it experienced an issue with its landing gears, WCNC Charlotte reported. A Delta Air Lines plane landed nose-first at Charlotte Douglas International Airport in Charlotte, NC on Wednesday, June 28, 2023 because of missing front landing gear. The cause of the landing gear failure is still under investigation, WCNC Charlotte reported.

Persons: Charlotte, WCNC Charlotte, WCNC, Jeff Siner, Chris Skotarczak, Skotarczak, I've, we've, Ed Bastian, Bastian Organizations: Delta Air Lines, Boeing, Charlotte Douglas International, Charlotte Observer, Tribune, Service, Getty, AP News, Twitter, Breaking Aviation, Air Lines Locations: North Carolina, Atlanta, Charlotte , NC

☆ Yen under pressure; Aussie slides as inflation slows
▼ + stars: | 2023-06-28 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

"We are closely watching currency moves with a strong sense of urgency," Japan's top currency diplomat Masato Kanda told reporters on Wednesday. The yen was hovering around the seven-month low of 144.18 per dollar it touched overnight. Against the euro, the yen was pinned near the 15-year low of 157.93 it hit on Tuesday. Against sterling, the Asian currency was hovering around 183.25, just a shade below the 7.5-year low it touched on Tuesday. In the spot market, the onshore yuan opened at 7.2225 per dollar and was changing hands at 7.2285.

Persons: Masato Kanda, Carol Kong, Kong, Rodrigo Catril, Jerome Powell's, Powell, Andrew Bailey, Christine Lagarde, Kazuo Ueda, Ankur Banerjee, Muralikumar Anantharaman, Jamie Freed Organizations: Bank of Japan, Ministry, Finance, Commonwealth Bank of Australia, Federal, Fed, National Australia Bank, European Central Bank, Bank of England, Sterling, Thomson Locations: SINGAPORE, Japan, Sintra , Portugal, Tokyo, Singapore

☆ Asia stocks subdued after Powell testimony fails to surprise
▼ + stars: | 2023-06-22 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

SINGAPORE, June 22 (Reuters) - Asian shares made a tentative start to Thursday after Federal Reserve chair Jerome Powell stuck to his recent hawkish tone as investors assess the future rate policy path from the Fed. Atlanta Federal Reserve President Raphael Bostic said on Wednesday the Fed should not raise rates further or it would risk "needlessly" sapping the strength of the U.S. economy. The comments highlight the growing debate at the central bank over when and if the central bank should hike further. "The BoE's conditional guidance put the burden of proof on the data showing more persistent inflation pressures to continue hiking bank rate. Markets will also be awaiting policy decision from Turkey's central bank, with a policy pivot and a sharp rate increase widely expected.

Persons: Jerome Powell, Australia's, Powell, Kevin Cummins, Raphael Bostic, BoE, Taylor Nugent, Sterling, Brent, Lincoln Organizations: Federal, Japan's Nikkei, Fed, NatWest Markets, Atlanta Federal Reserve, Bank of England, Reuters, National Australia Bank, Thomson Locations: SINGAPORE, Asia, Pacific, Japan, China, Hong Kong, Washington, Atlanta, U.S, Turkey's

☆ Turkish central bank to hike rates sharply in post-election pivot
▼ + stars: | 2023-06-21 | by ( Ali Kucukgocmen | ) www.reuters.com time to read: +4 min

But the level remains uncertain as the central bank has not given any signals as to its next steps, including the size or pace of potential hikes. Some economists have expressed doubt about Erdogan's commitment to abandoning his unorthodox policy of low rates, which led the central bank to slash its policy rate from 19% in 2021 to 8.5% currently. The median estimate for the policy rate at end-2023 was 30%, with forecasts ranging from 18% to 35%. He named Naci Agbal as central bank governor in Nov. 2020 but, after some sharp rate hikes, replaced him less than five months later. The central bank is scheduled to announce its rate decision at 1100 GMT on Thursday.

Persons: Murad Sezer, Tayyip Erdogan, Hafize Gaye Erkan, Malek Drimal, Erdogan, Mehmet Simsek, Moody's, Naci, Simsek, Ali Kucukgocmen, Marc Jones, Jonathan Spicer, Daren Butler, Christina Fincher Organizations: REUTERS, Societe Generale, stoke, Thomson Locations: Istanbul, Turkey, ISTANBUL

SHANGHAI/SINGAPORE, June 2 (Reuters) - China's yuan has skidded to six-month lows against the dollar and analysts say it could weaken further as investors fret over a bumpy pandemic recovery in the world's second-largest economy. "The yuan suffers as China's reopening story is less appealing than before, and there is no sign of further stimulus," said Gary Ng, senior economist for Asia Pacific at Natixis. "A weaker currency at the current juncture can help export performance, especially as global trade is shrinking this year." "A weaker yuan helps exporters when they convert the dollar receivables to yuan," said Barclays' FX strategist Lemon Zhang. A weaker yuan might also temper deflationary pressures being seen in parts of the economy due to weak domestic demand.

Persons: Gary Ng, Alvin Tan, Tan, Tommy Wu, Lemon Zhang, Serena Zhou, Winni Zhou, Brenda Goh, Tom Westbrook, Kim Coghill Organizations: Asia Pacific, Reuters, People's Bank of China, Asia FX, RBC Capital Markets, Barclays, FX, Mizuho Securities, Thomson Locations: SHANGHAI, SINGAPORE, United States, Natixis, Asia, China, Shanghai, Singapore

The Labor Department reported that U.S. job openings unexpectedly rose in April, pointing to persistent strength in a labor market that suggests pressure on both wages and inflation. Futures traders raised to 70% the probability of a 25 basis points hike at the Fed's June 13-14 policy meeting. FEDWATCHFed Governor and vice chair nominee Philip Jefferson said skipping a rate hike in two weeks would provide policymakers time to see more data before making a decision. The Labor Department's closely watched May unemployment report, due on Friday, could decide whether a rate hike occurs. Intel was the biggest gainer on the S&P 500 as the chipmaker said it was on track to hit the upper end of its second-quarter revenue forecast.

Persons: Brendan McDermid, Joe Biden, it's, Brad Conger, Callaghan, Conger, FEDWATCH, Philip Jefferson, Patrick Harker, Tim Ghriskey, we've, Nvidia Corp's, Herbert Lash, Shreyashi Sanyal, Shashwat Chauhan, Shounak Dasgupta, Maju Samuel, Richard Chang Organizations: New York Stock Exchange, REUTERS, Senate, Co, Labor Department, Philadelphia Fed, Inverness, Labor, Dow Jones, Nasdaq, Technology, Federal Deposit Insurance Corporation, Parts Inc, Genuine, O'Reily, Hewlett Packard Enterprise Co, Nvidia, Intel, Thomson Locations: New York City, U.S, Conshohocken , Pennsylvania, New York, Bengaluru

☆ Morning Bid: Back to data watching, with US debt bill on track
▼ + stars: | 2023-05-31 | by ( ) www.reuters.com time to read: +2 min

Unfortunately, there's little respite on that front given disappointing economic activity and persistently elevated inflation data out of Asia. China's official PMIs indicated a faster-than-expected contraction in manufacturing activity and slower growth in services in May. That followed consistently weak economic releases for April, suggesting the post-COVID reopening bounce has run out of steam. China economyAsian stock markets fell and even U.S. equity futures turned negative despite the debt ceiling reprieve, while China's yuan promptly skidded to fresh six-month lows, giving the U.S. dollar a broad boost. But much of the focus will, of course, be on the House debate over the debt ceiling bill.

Persons: Sonali Desai, Philip Lowe's, Italy's, Ignazio Visco's, Catherine Mann, Muralikumar Organizations: Sonali, Reserve Bank of Australia, U.S, CPI, Central Bank's, Bank of Italy, Bank of England MPC, Nordstrom, Thomson Locations: Asia, China, Korean, Ukraine, France, Germany, Italy, U.S, Italian

☆ Morning Bid: China factory fright, dollar surges
▼ + stars: | 2023-05-31 | by ( ) www.reuters.com time to read: +4 min

The yuan , now down more than 3% from its early May peaks, skidded to its lowest level of the year against the dollar as investors considered the possibility of further credit easing by the Chinese central bank. The dollar index hit its highest level since mid-March, with the European inflation news and China demand picture knocking the euro to its lowest in two months too. German import prices fell at an annual rate of 7% in April and the ECB's financial stability report warned about a "disorderly" hit to house prices from higher mortgage rates. The House Rules Committee voted 7-6 on Tuesday to approve the rules allowing a debate and vote by the full chamber. Overall, stock markets slipped back slightly - with Hong Kong's Hang Seng index the big underperformer after the Chinese factory release.

Persons: Mike Dolan, Loretta Mester, Philip Jefferson, Susan Collins, Patrick Harker, Christine Lagarde, Jane Merriman Organizations: Federal Reserve, Cleveland Fed, Wednesday's Financial, European Central Bank, Dallas Fed, Boston, Philadelphia Fed, Consumer, Thomson, Reuters Locations: U.S, Europe, China, Italy, Chicago

☆ Americans' confidence in Powell hits a low mark for a Fed chief, poll shows
▼ + stars: | 2023-05-09 | by ( ) www.reuters.com time to read: +2 min

[1/2] Federal Reserve Chairman Jerome Powell holds a news conference after the release of U.S. Fed policy decision on interest rates, in Washington, U.S, May 3, 2023. Just 36% of respondents to a Gallup poll taken last month said they had either a "great deal" or "fair amount" of confidence in Powell. That downswing has played out alongside a surge in inflation that Powell and other economic leaders were slow to recognize and take action against. Powell, though, was not alone in seeing the U.S. public lose faith in his capabilities. The poll also found declining confidence in congressional leaders from both parties.

In Europe, the broad pan-regional STOXX 600 index (.STOXX) rose 0.34% on expectations non-U.S. stocks will outperform in the months ahead. Sterling , which has gained 4.4% against the dollar this year, earlier hit a 12-month high of 1.2668 ahead of an expected Bank of England rate increase on Thursday. The dollar rose 0.01% against the yen. "The survey should point to further broad-based tightening in bank lending standards," said Bruce Kasman, head of economic research at JPMorgan. Bullion regained ground after a sharp retreat in the previous session, ahead of the inflation data that could shed light on the outlook for U.S. interest rates.

☆ Fed Meeting Today Live: What to Watch Ahead of Likely on Interest Rate Hike, Powell's Speech
▼ + stars: | 2023-05-03 | by ( ) www.wsj.com time to read: 1 min

It's Fed Day, and central bank officials are expected to announce another interest rate increase at 2 p.m. Officials will be deliberating whether policy is then tight enough to merit a pause, after the fastest series of rate rises in 40 years. Oil prices, which have a huge impact on inflation, skidded again Wednesday, dropping below $70 for the first time since March. Stocks nudged higher at the open, a day after renewed jitters about regional banks helped send major indexes down more than 1%. Some smaller bank stocks remain under pressure.

☆ Fed Meeting Today: Interest Rates Hiked 0.25%; Markets React to Powell's Speech
▼ + stars: | 2023-05-03 | by ( ) www.wsj.com time to read: 1 min

The Federal Reserve approved another quarter-percentage-point interest-rate increase and signaled it could be done lifting rates after that. The decision Wednesday marked the Fed's 10th consecutive rate increase aimed at battling inflation and will bring its benchmark federal-funds rate to a range between 5% and 5.25%, a 16-year high. Oil prices, which have a huge impact on inflation, skidded again Wednesday, dropping below $70 for the first time since March.

☆ Stock Market Today: Dow, S&P 500 Slip as More Bank Earnings Come
▼ + stars: | 2023-04-20 | by ( ) www.wsj.com time to read: 1 min

Tesla shares skidded and weighed on the Nasdaq after the electric-vehicle maker posted a sharp fall in profit last night. The Dow and S&P 500 are also lower Thursday, as are EV makers across the globe. All three major indexes are on track for weekly losses. Another round of bank earnings are in, including from regional banks that were hard-hit after the collapse of Silicon Valley Bank and Signature Bank last month. What we're reading:

☆ Stock Market Today: Dow, S&P 500 Slip; AT&T Stock Drops 10 Percent
▼ + stars: | 2023-04-20 | by ( ) www.wsj.com time to read: 1 min

Tesla shares skidded and weighed on the Nasdaq after the electric-vehicle maker posted a sharp fall in profit last night. The Dow and S&P 500 were also lower Thursday, with all three U.S. indexes poised for weekly losses in afternoon trading. Another round of bank earnings are in, including from regional banks that were hard-hit after the collapse of Silicon Valley Bank and Signature Bank last month. The market isn't loving what it sees, with shares of KeyCorp, Truist and Comerica down. What we're reading:

☆ Stock Market Today: Dow Closes Down 100 Points; AT&T Stock Drops
▼ + stars: | 2023-04-20 | by ( ) www.wsj.com time to read: 1 min

Tesla shares skidded and weighed on the Nasdaq after the electric-vehicle maker posted a sharp fall in profit last night. The Dow, now in the red for three straight sessions, and S&P 500 were also lower, with all three U.S. indexes poised for weekly losses as of Thursday's close. Read today's full markets roundup here. Another round of bank earnings are in, including from regional banks that were hard-hit after the collapse of Silicon Valley Bank and Signature Bank last month. The market isn't loving what it sees, with shares of KeyCorp, Truist and Comerica down.

☆ Financial experts share their greatest money regrets — all have one thing in common
▼ + stars: | 2023-04-12 | by ( Jessica Dickler | ) www.cnbc.com time to read: +6 min

Here, CNBC Financial Advisor Council members share their greatest money mishaps, and what they do differently now. "For my first five years in financial planning, I made the same amount of money." Money mistake: Leasing 'too much' carThianchai Sitthikongsak | Moment | Getty Images"My biggest money mistake was back when I was working at Smith Barney as an early financial advisor," said Winnie Sun, co-founder and managing director of Sun Group Wealth Partners, based in Irvine, California. So, Sun, a member of the CNBC Financial Advisor Council, splurged on her dream car. Money mistake: Unloading inherited stock "My wife had inherited shares of Phillip Morris stock from her father," said Lee Baker, a CFP based in Atlanta.

☆ Verstappen fastest in first practice at Australian Grand Prix
▼ + stars: | 2023-03-31 | by ( Ian Ransom | ) www.reuters.com time to read: +2 min

MELBOURNE, March 31 (Reuters) - Formula One world champion Max Verstappen topped the timesheets for Red Bull before taking a late spin at Albert Park in an eventful first free practice at the Australian Grand Prix on Friday. The Dutchman lapped the lakeside circuit in one minute, 18.790 seconds, nearly half a second quicker than second fastest Lewis Hamilton of Mercedes, as two red flags disrupted the session. A second red flag cut the session short by a few minutes as Williams rookie Logan Sargeant came to a halt on track-side grass with an apparent power failure. Verstappen finished his session with a bit of drama, taking a big spin at turn four to ruin his tyres. But he squeezed in a fast lap between the red flags to sandwich himself between Verstappen and Perez's times.

☆ JEFFERIES: Buy these 12 underpriced, lower-risk stocks that are poised for a sharp rebound and long-term outperformance
▼ + stars: | 2023-03-30 | by ( Marley Jay | ) www.businessinsider.com time to read: +2 min

He says that companies with strong balance sheets and a lot of non-US revenue will outperform. But DeSanctis wrote that given the broader context, investors are more likely to reward companies with strong balance sheets. "With HY spreads widening and staying wide, weaker balance sheet companies should lag behind, especially given their cost of capital has likely risen. Companies with weaker balance sheets also perform poorly heading into an economic slowdown," he wrote. "We looked for lower risk, higher overseas revenue, clean balance sheets, came up with a dozen Buy-rated ideas," he wrote.

☆ Morning Bid: Bank angst persists, unnerves Europe
▼ + stars: | 2023-03-24 | by ( ) www.reuters.com time to read: +5 min

But banks boosted borrowing under the Fed's newly launched Bank Term Funding Program to $53.7 billion - almost 5 times its first outing the previous week. European bank stocks fell 3% early on Friday, with Deutsche Bank shares (DBKGn.DE) down for a third day - losing 5% amid rising market costs for insuring against the risk of default. European Central Bank President Christine Lagarde is due to attend Friday's European Union summit in Brussels and update leaders on the state of affairs in the financial system. Wider markets were lower in Asia and Europe and U.S. stock futures were in the red again ahead of the open. With less than a 50% chance of another Fed rate rise in this cycle now priced into the futures, almost 80 basis points of rate cuts are now seen by year-end.

☆ Asian markets take breather from banking turmoil, capping tumultuous week
▼ + stars: | 2023-03-17 | by ( Stella Qiu | ) www.reuters.com time to read: +4 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) rose 0.9% on Friday, erasing earlier losses this week. S&P 500 futures eased 0.1% and Nasdaq futures were flat after major U.S. stock indices rallied hard on easing fear of a global banking crisis. This is a theme other central banks are likely to echo," said James Rossiter, head of global macro strategy at TD Securities. Yields were, however, headed for the steepest weekly decline since February 2020 when markets were thrown into chaos by COVID-19 fear. "The past week has provided an unwelcome reminder of the inherent fragility of banking systems," said analysts at Capital Economics in a note to client.

☆ These stocks benefit the most when short-term rates slide, according to Jefferies
▼ + stars: | 2023-03-15 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

As short-term rates slide on the back of the banking crisis, a handful of stocks — including chip names —will emerge winners, according to Jefferies. The strategist noted the steep drop in the 2-year yield is pointing to worsening economic conditions. Indeed, the names Jefferies highlighted are largely tech and growth stocks – that is, companies that suffered the most when interest rates rose and slashed their valuations. Semiconductor stocks Lam Research and Advanced Micro Devices were also included in the list. Paycom Software and aerospace name TransDigm Group were also highlighted in Jefferies' report as beneficiaries of a falling 2-year Treasury yield.

Investors in Asia have a fairly packed data calendar themselves to get through on Wednesday, with the latest snapshots of Chinese retail sales, industrial production and fixed business investment the pick of the bunch. chartchartEconomists expect retail sales and industrial production to recover strongly, pointing to the economic recovery from COVID-19 lockdown gathering momentum. Yet growth in fixed business investment, a key plank of any recovery, is expected to slow from January. Note, however, that the retail sales and industrial production figures are for January and February, so they may be distorted. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Asian shares stutter, dollar buoyant as data supports hawkish Powell
▼ + stars: | 2023-03-09 | by ( Stella Qiu | ) www.reuters.com time to read: +5 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) eased 0.2% on Thursday, extending a drop of 1.4% the previous session. S&P 500 futures eased 0.1% and Nasdaq futures were off 0.3%Inflation data out of China showed on Thursday that domestic demand still remained tepid. The U.S. dollar index, measuring the greenback's value against a basket of major peers, hovered close to a three-month top at 105.6. The central bank on Wednesday left its key overnight interest rate on hold, becoming the first major central bank to suspend its monetary tightening campaign. On Thursday, the two-year Treasury yields held close to its 15 year highs at 5.0553%, while the benchmark 10-year yields were steady at 3.9775%.

☆ Dollar subdued ahead of Powell testimony
▼ + stars: | 2023-03-07 | by ( Ankur Banerjee | ) www.reuters.com time to read: +2 min

SINGAPORE, March 7 (Reuters) - The dollar was subdued on Tuesday ahead of testimony by Federal Reserve chair Jerome Powell, which investors will focus on for cues of the path the U.S. central bank is likely to take in tackling sticky inflation. The dollar index , which measures the U.S. currency against six major rivals, was 0.067% higher at 104.31, having skidded 0.26% overnight. The Australian dollar rose 0.01% against the U.S. dollar at $0.673 ahead of the Reserve Bank of Australia's policy decision later in the day where a quarter-percentage point rate hike is widely expected. The Japanese yen weakened 0.15% to 136.14 per dollar ahead of the final policy meeting for Bank of Japan Governor Haruhiko Kuroda on Thursday and Friday. They also expect interest rates to peak at 5.48% in September and still be above 5% at the end of the year.

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