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REUTERS/Brendan McDermid Acquire Licensing RightsLONDON, Sept 8 (Reuters) - Rising U.S. business bankruptcies may raise a red flag in what otherwise appears like an economy now impervious to rising interest rates. Commenting on the numbers, insolvency research organisation ABI blamed elevated interest rates, price inflation and a resumption of student loan payments as just some of the headwinds causing stress. That partly mirrors some of built-in household resilience to rising rates related to long-term fixed-rate borrowings and still-high cash savings that now earn significantly higher rates of interest now too. And that 10% - accounting for more than 60% of index market cap - had seen no rise in net interest payments so far in the Fed campaign. But creeping insolvencies among the smaller firms - many of whom have been dubbed 'zombies' for years due to their survival solely on low interest rates - may be a better reflection of what's starting to happen at the coalface of the economy.

Persons: Brendan McDermid, Albert Edwards, Edwards, Andrew Lapthorne, Russell, NFIB, Mike Dolan, Josie Kao Organizations: New York Stock Exchange, REUTERS, Yellow Corp, P Global Market Intelligence, Reuters, Societe Generale, Fed, National Federation of Independent Business, Reuters Graphics Reuters, Thomson Locations: New York City, U.S, midyear

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 19, 2023. The S&P 500 information technology index (.SPLRCT) fell 1.9% while the Philadelphia semiconductor index (.SOX) dropped 2.8%. ET, the S&P 500 (.SPX) was down 21.95 points, or 0.49%, at 4,443.53, and the Nasdaq Composite (.IXIC) was down 176.52 points, or 1.27%, at 13,695.95. The weightage of a stock on the Dow is proportional to its share value as opposed to the market capitalization-weighted S&P 500 (.SPX.). The S&P index recorded 10 new 52-week highs and 23 new lows, while the Nasdaq recorded 16 new highs and 212 new lows.

Persons: Brendan McDermid, stoked, Rick Meckler, Alibaba, Patrick Harker, John Williams, Dow Jones, Wells, Shristi Achar, Johann M, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Apple, Bloomberg, Nvidia, Netflix, U.S, Cherry Lane Investments, Skyworks, Qualcomm, Labor Department, Traders, PDD Holdings, Baidu, Philadelphia Fed, New York Fed, NYSE, Thomson Locations: New York City, U.S, China, Wells Fargo, Philadelphia, McDonald's, Bengaluru

☆ Can stocks finish strong in 2023? Wall Street giants weigh in
▼ + stars: | 2023-09-07 | by ( Elliot Smith | ) www.cnbc.com time to read: +6 min

Global stocks notched their second-worst month of the year in August, with the MSCI broad aggregate of world indexes dropping 2.96%, according to LSEG data. This has carried into a tepid start to September trade, but Madison Faller, global investment strategist at JPMorgan Private Bank, said in a research note on Friday that 2023 can still finish strong. "While there are still things we don't know, the read from the key players — central banks, Wall Street, Main Street and the C-suite — suggests that the outlook feels brighter today than it did a year ago," Faller said. "With less worry about the near term, more firms are starting to focus on how they can continue growing in the long term. Technology stocks, particularly those with a heavy focus on AI, have driven a huge portion of the market's gains so far this year.

Persons: Madison Faller, Faller, haven't, Jerome Powell, Powell didn't, Goldman Sachs, it's, Peter Oppenheimer, we're, Tesla Organizations: NYSE, NYSE Stock, JPMorgan Private Bank, Federal Reserve, Fed, European Central Bank, Bank of England, Global Equity, CNBC, Nvidia, Facebook Locations: Wall, China, U.S

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 19, 2023. ETFutures: Dow up 0.03%, S&P down 0.29%, Nasdaq down 0.62%Sept 7 (Reuters) - The S&P 500 and Nasdaq futures fell on Thursday over concerns about sticky inflation, while investors awaited comments from key Federal Reserve officials later in the day to gauge the U.S. interest rate path. Investors await comments from at least six Fed speakers, including policy voting members Philadelphia Fed President Patrick Harker, Vice Chair and New York Fed President John Williams, due to speak later in the day. ET, Dow e-minis were up 9 points, or 0.03%, S&P 500 e-minis were down 13 points, or 0.29%, and Nasdaq 100 e-minis were down 94.75 points, or 0.62%. GameStop (GME.N) climbed 4.8% after the videogame retailer beat Wall Street estimates for quarterly revenue and posted a smaller-than-expected loss.

Persons: Brendan McDermid, Alibaba, Susannah Streeter, Hargreaves Lansdown, Patrick Harker, John Williams, Wells, Shristi Achar, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, GameStop, Dow, Nasdaq, Federal Reserve, Apple, Nvidia, PDD Holdings, Baidu, Philadelphia Fed, New York Fed, Traders, Investors, Dow e, Wall, Thomson Locations: New York City, U.S, China, McDonald's, Bengaluru

[1/2] The logo for Goldman Sachs is seen on the trading floor at the New York Stock Exchange (NYSE) in New York City, New York, U.S., November 17, 2021. REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsSept 7 (Reuters) - Goldman Sachs (GS.N) and Morgan Stanley (MS.N) are poised for stronger results next year compared to other large-cap U.S. banks as dealmaking on Wall Street picks up and asset management businesses gain momentum, HSBC said on Thursday. The brokerage said that Goldman Sachs and Morgan Stanley should post high single-digit to low double-digit revenue growth in 2024 and sizable earnings growth in 2024 and 2025 after being weighted from a decade-long low in investment banking. Lead analyst Saul Martinez believes a "bifurcation" is emerging in revenue forecast between traditional and capital markets-focused banks and picks Goldman Sachs as the brokerage's preferred name in its coverage. "We see deal activity picking up: even in a sluggish economic growth environment, greater visibility regarding the direction of economic growth, interest rates, and inflation should trigger more equity and debt issuance and M&A activity," Martinez said.

Persons: Goldman Sachs, Andrew Kelly, Morgan Stanley, Saul Martinez, Martinez, JPMorgan Chase, Wells, Aniruddha Ghosh, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Wall, HSBC, Federal Reserve, Bank of America, JPMorgan, of America, Thomson Locations: New York City , New York, U.S, Bengaluru

A screen shows the logo and a ticker symbol for The Walt Disney Company on the floor of the New York Stock Exchange (NYSE) in New York, U.S., December 14, 2017. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsSept 7 (Reuters) - Charter Communications (CHTR.O) Chief Executive Chris Winfrey said he has a sense of urgency to resolve a distribution dispute with Walt Disney (DIS.N), in remarks on Thursday at a tech conference in San Francisco. Charter is locked in a distribution battle with Disney as the second-largest U.S. cable company negotiates with the media conglomerate over how much its channels are worth and how to package them. Such "carriage disputes" are commonplace in the media world, though this negotiation may shape the future of television in the streaming era. Disney issued a statement saying it “stands ready” to resolve the carriage dispute, and “do what’s in the best interests” of Charter’s customers.

Persons: Brendan McDermid, Chris Winfrey, Walt Disney, “, ” Winfrey, Goldman Sachs, Winfrey, ” Disney, Scott Robson, Robson, Dawn Chmielewski, Akash Sriram, Sriraj Kalluvila, Tomasz Janowski Organizations: Walt Disney Company, New York Stock Exchange, REUTERS, Charter Communications, Disney, Technology, ESPN, ABC, Charter's, U.S, NFL, P Global Market Intelligence, Thomson Locations: New York, U.S, San Francisco, Los Angeles, Bengaluru

REUTERS/Brendan McDermid Acquire Licensing RightsORLANDO, Florida, Sept 7 (Reuters) - If you think this time is different, and the post-2008 world of low interest rates and bond yields is over, think again. What's more, Fed officials' longer-term rate projections and New York Fed model estimates of the theoretical long-run equilibrium interest rate - or 'R-Star' - suggest policymakers probably agree. The Fed's persistently low long-term rate outlook and New York Fed's declining R-Star estimates despite the highest inflation, policy rate and bond yields in years, suggest rates and yields won't stay this high for long. With the fed funds target range currently 5.25-5.50%, Fed policy is extremely restrictive, by around 250 basis points or more. The Fed publishes its updated inflation, growth and policy rate outlook on September 20 in the latest Staff Economic Projections.

Persons: Brendan McDermid, Steven Major, HSBC's, Jamie McGeever Organizations: New York Stock Exchange, REUTERS, Rights, U.S ., Bank of America, New York Fed, The New York Fed, Dallas Fed, Reuters, Artificial, Fed, Thomson Locations: New York City, U.S, Rights ORLANDO , Florida, Ukraine, U.S . Republic, China, Japan, York

The logo for Morgan Stanley is seen on the trading floor at the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S., August 3, 2021. REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsNEW YORK, Sept 7 (Reuters) - Wealthy clients going to a Morgan Stanley banker to discuss their investments may soon have a different sort of experience: having a chatbot listen to their conversation. They signed a deal last summer in which Morgan Stanley has preferred access in product development for wealth management. WEALTH RACEThe AI initiative is part of Morgan Stanley's strategy to drive its wealth division, where net revenue surged 16% to a record in the second quarter and new client assets grew $90 billion. Morgan Stanley is not alone in its AI efforts.

Persons: Morgan Stanley, Andrew Kelly, Sal Cucchiara, Morgan Stanley's, Cucchiara, Andy Saperstein, Sam Altman, Boris Power, OpenAI, they'll, Morgan, James Gorman, JPMorgan Chase, Teresa Heitsenrether, Erica, Nick Reed, Michael Abbott, Abbott, Tatiana Bautzer, Lananh Nguyen, Megan Davies, Nick Zieminski Organizations: New York Stock Exchange, REUTERS, Bankers, Saperstein, Wall, JPMorgan, Rival Bank of America's, OpenAI, Microsoft, Accenture, Thomson Locations: Manhattan , New York City, U.S, California, New York

The prospect of higher rates put particular pressure on growth stocks with the S&P 500 growth index (.IGX) underperforming the benchmark throughout the session. "Growth stocks have been pricing in the idea that inflation has been well anchored and that the Fed's going to cut. The S&P 500 showed little reaction to the Fed's "Beige Book" snapshot of the U.S. economy a week ahead of the keenly awaited August inflation data and the Fed's rate decision on Sept. 20. The report showed "modest" U.S. economic growth in recent weeks while job growth was "subdued," and inflation slowed in most parts of the country. The S&P 500 posted six new 52-week highs and 25 new lows; the Nasdaq Composite recorded 34 new highs and 174 new lows.

Persons: Lockheed Martin, Carol Schleif, Schleif, Susan Collins, Patrick Kaser, Mike Segar, advancers, Sinéad Carew, Shristi, Vinay Dwivedi, Richard Chang Organizations: Dow, Nasdaq, Institute for Supply Management, Traders, Federal Reserve, Boston, Equity, Brandywine Global, Apple Inc, Wall, New York Stock Exchange, REUTERS, Dow Jones, Energy, Lockheed, NYSE, Thomson Locations: China, Minneapolis, Manhattan, New York City , New York, U.S, New York, Bengaluru

☆ WeWork begins to renegotiate leases globally
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: +1 min

The WeWork logo is displayed on a screen during the company's IPO on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., October 21, 2021. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsSept 6 (Reuters) - WeWork (WE.N) said on Wednesday it has started a process of global engagement with landlords to renegotiate nearly all its leases, sending its shares up as much as 9% in morning trade. The company had reported a 3% drop in total physical memberships from a year earlier, citing increasing competition, macroeconomic volatility and softer demand than anticipated. WeWork, which provides flexible workspaces by taking out long-term leases and renting them out for short durations, gained popularity before the COVID-19 pandemic made shared office spaces less appealing. The company, which has struggled with heavy debts and poor financial performance, hired advisers for its restructuring efforts, Bloomberg News reported last month.

Persons: Brendan McDermid, Pratyush Thakur, Pooja Desai Organizations: New York Stock Exchange, REUTERS, Bloomberg News, Thomson Locations: New York City, U.S, Bengaluru

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. "Every Fed governor comes out and says they look for the data and that data point today is definitely something that's a little bit more inflationary." Declining issues outnumbered advancers by a 2.14-to-1 ratio on the NYSE and by a 2.06-to-1 ratio on the Nasdaq. The S&P index recorded three new 52-week highs and 24 new lows, while the Nasdaq recorded 32 new highs and 119 new lows. Reporting by Shristi Achar A and Amruta Khandekar in Bengaluru Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

Persons: Mike Segar, Martin, Joe Saluzzi, Susan Collins, megacaps, Johnson, Lockheed Martin, Shristi Achar, Vinay Dwivedi Organizations: Wall, New York Stock Exchange, REUTERS, Dow, Nasdaq, Apple, Institute for Supply Management, Traders, Themis, Boston, Nvidia, Treasury, Healthcare, Johnson, HSBC, thefly.com, Federal Reserve, Dow Jones, Lockheed, NYSE, Thomson Locations: Manhattan, New York City , New York, U.S, China, Chatham , New Jersey, Bengaluru

☆ J&J says drug combo contains lung cancer from spreading for longer duration
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: +1 min

The Johnson & Johnson logo is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., May 29, 2019. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsSept 6 (Reuters) - Johnson & Johnson (JNJ.N) said on Wednesday its combination drug helped increase the duration of no progress in a type of non small-cell lung cancer in patients. J&J's therapy was tested in patients in whom the disease progressed even after they were treated with AstraZeneca's Tagrisso. J&J is also testing its combination treatment in a head-to-head study with Tagrisso, and expects data from the trial by the end of this year. If successful, the company expects the therapy to become a first-line treatment for NSCLC patients with the mutation.

Persons: Johnson, Brendan McDermid, AstraZeneca's, Rybrevant, Leroy Leo, Pooja Desai Organizations: New York Stock Exchange, REUTERS, Johnson, Thomson Locations: New York, U.S, Bengaluru

☆ Morning Bid: Restive markets simmer after oil sideswipe
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: +4 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 20, 2023. That's a moment in the whole disinflation story as it virtually wipes out the negative annual base effect so powerful this year in helping drag headline inflation rates back down. The more complicated inflation picture comes against the week's downbeat business surveys from Europe and Japan. That take was reinforced overnight by a New York Fed study that suggested the theoretical 'neutral' interest rate keeping the economy at equilibrium continued to fall in the second quarter. The energy picture saw Asia and European bourses in the red again, with Japan's Nikkei (.N225) bucking the trend.

Persons: Brendan McDermid, Mike Dolan Roiled, Lorie Logan, Susan Collins, Mike Dolan, John Stonestreet Organizations: New York Stock Exchange, REUTERS, Treasury, Bank of Canada, New, New York Fed, NY, Japan's Nikkei, Dallas Federal, Boston Fed, Reuters Graphics Reuters, Thomson, Reuters Locations: New York City, U.S, Saudi Arabia, Russia, That's, Europe, Japan . U.S, New York, Asia, European, Canada

☆ Chevron, unions in final talks ahead of planned Australia LNG strikes
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Brendan McDermid Acquire Licensing RightsCompanies Chevron Corp FollowSYDNEY, Sept 6 (Reuters) - Chevron (CVX.N) and a union alliance will hold a final round of talks on Wednesday ahead of planned strike actions at two major liquefied natural gas (LNG) facilities in Australia as ongoing disputes over pay and conditions remained unresolved. Work will stop for seven hours on Thursday, escalating to 10 hours from Sept. 8 to 13. Australia's industrial arbitrator, the Fair Work Commission, has been hosting mediation talks since Monday, and negotiations are scheduled to run on all days this week. Australia is the world's biggest LNG exporter and the ongoing dispute has stoked volatility in natural gas markets, as traders worry about the risk of long-term disruption. Chevron's Gorgon, Australia's second-largest LNG plant, and its Wheatstone operations account for more than 5% of global LNG capacity.

Persons: Brendan McDermid, Australia's, Renju Jose, Jamie Freed Organizations: Chevron, New York Stock Exchange, REUTERS, Companies Chevron Corp, Workers, Thomson Locations: New York City, U.S, Australia, British, Norway, Sydney

REUTERS/Brendan McDermid Acquire Licensing RightsSept 6 (Reuters) - GameStop (GME.N) on Wednesday beat Wall Street estimates for quarterly revenue and posted a smaller-than-expected loss, buoyed by strong demand for videogames, collectibles and consoles. The company's shares rose nearly 6% in extended trading as the results indicated that efforts to boost its digital presence were paying off. Sales of software and collectibles contributed to about 49% of total revenue in the second quarter, the company said. Revenue rose about 2% to $1.16 billion for the quarter ended July 29, GameStop said, topping estimates of $1.14 billion, according to three analysts polled by LSEG. On an adjusted basis, GameStop lost 3 cents per share, compared with analysts' estimates of a loss of 14 cents.

Persons: Brendan McDermid, Ryan Cohen, John Oh, Akash Sriram, Sriraj Organizations: GameStop, New York Stock Exchange, REUTERS, Wednesday, Wall, Gamers, Activision, Arts, LSEG, Thomson Locations: New York City, U.S, Bengaluru

☆ BlackRock voted against Glencore's climate progress report
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: +2 min

A specialist trader works at the post where BlackRock is traded on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 21, 2022. REUTERS/Brendan McDermid Acquire Licensing RightsCompanies BlackRock Inc FollowGlencore PLC FollowLONDON, Sept 6 (Reuters) - Major Glencore shareholder BlackRock Inc (BLK.N) was among investors to reject the mining giant's (GLEN.L) climate progress report at its annual meeting in May, citing inconsistencies, a voting disclosure page on the asset manager's website shows. BlackRock allows many clients to cast their own votes at companies' annual general meetings. The page also showed BlackRock did not back a shareholder resolution seeking more disclosure on progress in scaling back thermal coal production, which got 29% support, without saying why. But BlackRock in August reported a further decline in its support for shareholder resolutions on environmental and social themes, citing corporate progress on the areas and poorly crafted measures.

Persons: Brendan McDermid, Glencore, company's, Clara Denina, Simon Jessop, Josie Kao Organizations: BlackRock, New York Stock Exchange, REUTERS, BlackRock Inc, BIS, Thomson Locations: New York City, U.S, Paris

☆ BAE Systems pensions appoint Goldman Sachs to manage 23 bln stg in assets
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: 1 min

The logo for Goldman Sachs is seen on the trading floor at the New York Stock Exchange (NYSE) in New York City, New York, U.S., November 17, 2021. REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsLONDON, Sept 6 (Reuters) - The trustees of two BAE Systems (BAES.L) pensions schemes have appointed Goldman Sachs Asset Management to manage 23 billion pounds ($28.88 billion) in defined benefit pension scheme assets, the fund manager said on Wednesday. The mandate for BAE Systems Pension Scheme and BAE Systems Executive Pension Scheme is the largest outsourced chief investment officer appointment in Britain to date, GSAM said in a statement. Pension funds are looking at ways to cut costs by outsourcing parts of their business. ($1 = 0.7964 pounds)Reporting by Carolyn Cohn; editing by Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

Persons: Goldman Sachs, Andrew Kelly, Goldman, GSAM, Carolyn Cohn, Jason Neely Organizations: New York Stock Exchange, REUTERS, BAE Systems, Management, Thomson Locations: New York City , New York, U.S, Britain

☆ Stocks fall, dollar and yields up after US services data
▼ + stars: | 2023-09-06 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

[1/2] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 15, 2023. Weighing heavily on Wall Street stock indexes, shares of Apple (AAPL.O) fell 3.6% after the Wall Street Journal reported, citing people familiar with the matter, that China had banned officials at central government agencies from using iPhones and other foreign-branded devices for work. Some investors said the data may add to signs that interest rates could remain elevated for longer. The Nasdaq ended more than 1% lower, leading declines on Wall Street. In other data, manufacturing activity in Germany, Britain and the euro zone declined, while their service sectors fell into contraction territory.

Persons: Brendan McDermid, Susan Collins, Jeffrey Roach, Caroline Valetkevitch, Gertrude Chavez, Dreyfuss, Nell Mackenzie, Kane Wu, Edmund Klamann, Sam Holmes, Will Dunham, Sharon Singleton Organizations: New York Stock Exchange, REUTERS, U.S, Apple, Treasury, Wall, Wall Street Journal, Institute for Supply Management, U.S . Federal, Fed Bank of Boston, Nasdaq, . Technology, Dow Jones, LPL, Brent, Thomson Locations: New York City, U.S, China, Germany, Britain, New York, London

☆ Stocks decline, Treasury yields jump as investors weigh rate outlook
▼ + stars: | 2023-09-05 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

[1/3] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 15, 2023. The Dow led declines among the three major stock indexes on Wall Street, even as higher oil lifted shares of some energy companies. Oil prices rose to their highest since November after Saudi Arabia and Russia extended their voluntary supply cuts to the end of the year. The pan-European STOXX 600 index (.STOXX) lost 0.23% and MSCI's gauge of stocks across the globe (.MIWD00000PUS) shed 0.60%. Brent crude futures rose by $1.04, or 1.2%, to settle at $90.04 a barrel, while U.S. crude futures gained $1.14, or 1.3%, to settle at $86.69 a barrel.

Persons: Brendan McDermid, Paul Nolte, Murphy, Christopher Waller, Dow, Caroline Valetkevitch, Sinead Carew, Samuel Indyk, Ankur Banerjee, Shounak Dasgupta, Mike Harrison, Lincoln Organizations: New York Stock Exchange, REUTERS, U.S, Sylvest Wealth Management, Investors, Fed, Dow Jones, Nasdaq, Brent, Thomson Locations: New York City, U.S, China, Europe, Britain, Elmhurst , Illinois, Saudi Arabia, Russia, New York, London

With U.S. crude oil prices rallying on Tuesday, Nolte also cited recent strength in oil prices as a damper to the Fed's efforts to push inflation back to 2%. Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 29, 2023. The Dow Jones Transport index (.DJT) finished off 2.2%, weighed down by a slide in airline stocks as rising oil prices implied higher fuel costs. Shares of Airbnb (ABNB.O) rallied 7% while Blackstone (BX.N) added 3.6% on news that their stocks would join the S&P 500 index. The S&P 500 posted 12 new 52-week highs and 25 new lows; the Nasdaq Composite recorded 50 new highs and 142 new lows.

Persons: Blackstone, Christopher Waller, Paul Nolte, Murphy, Nolte, Sam Stovall, Brendan McDermid, Goldman Sachs, advancers, Sinéad Carew, Shristi, Arun Koyyur, Shounak Dasgupta, Richard Chang Organizations: Dow, Nasdaq, Monday, Monday . U.S, Treasury, Sylvest Wealth Management, Traders, Labor, CFRA Research, Dow Jones, New York Stock Exchange, REUTERS, Transport, United Airlines, U.S, Blackstone, Oracle, Barclays, NYSE, Thomson Locations: Monday ., Elmhurst , Illinois, New York City, U.S, Saudi Arabia, Russia, New York, Bengaluru

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 29, 2023. The yield on the 10-year Treasury notes climbed to 4.25%, while two-year yield rose to 4.936%. Utilities (.SPLRCU) led declines among S&P 500 indexes, down nearly 2%, while China-exposed materials sector (.SPLRCM) fell 1.2%. Shares of Airbnb (ABNB.O) and Blackstone (BX.N) added 7.7% and 3.6%, respectively, as the companies were set to join the S&P 500 index. Declining issues outnumbered advancers for a 3.02-to-1 ratio on the NYSE and a 2.08-to-1 ratio on the Nasdaq.

Persons: Brendan McDermid, Blackstone, Hugh Anderson, Alibaba, Christopher Waller, Goldman Sachs, advancers, Shristi Achar, Arun Koyyur, Shounak Organizations: New York Stock Exchange, REUTERS, China, Dow, Nasdaq, Federal Reserve, HighTower Advisors, Labor, PDD Holdings, Baidu, Utilities, Nvidia, U.S, Traders, Federal, Dow Jones, Blackstone, Oracle, Barclays, NYSE, Thomson Locations: New York City, U.S, Las Vegas, Saudi Arabia, Russia, China, Bengaluru

A banner for Nubank, the Brazilian FinTech startup, hangs on the facade at the New York Stock Exchange (NYSE) to celebrate the company's IPO in New York, U.S., December 9, 2021. REUTERS/Brendan McDermid/File photo Acquire Licensing RightsMEXICO CITY, Sept 5 (Reuters) - Nubank, one of Latin America's biggest fintech companies, announced on Tuesday the launch of personal loans for the Mexican market, aiming to boost its financial services portfolio in the region's second-largest economy. The new product will allow customers to obtain personal loans in less than five minutes through its platform, the digital bank's Mexican arm, known as Nu Mexico, said in a statement. "Around 20% of the adult population connected by smartphones in Mexico has already applied to a Nu product. Executives from the fintech firm told Reuters last month Mexico is the market showing more potential for growth, and the company is ready to roll out products at a faster pace next year.

Persons: Brendan McDermid, Ivan Canales, Brazil's Nubank, Valentine Hilaire, Sandra Maler Organizations: New York Stock Exchange, REUTERS, Reuters, Thomson Locations: New York, U.S, MEXICO, Mexico

The yield on the 10-year Treasury notes climbed to 4.23%, while two-year yield rose to 4.928% in the run-up to more economic data this week. "The recession is definitely delayed within the United States ... we are seeing fairly weak economic environments in both China and Europe." U.S. economic data since the Fed's July meeting has added to the impression the economy is cooling without cracking, likely bolstering the case against further interest rate increases. All three main U.S. stock indexes logged gains in the previous week after data pointed to a softening labor market. The S&P index recorded eight new 52-week highs and 13 new lows, while the Nasdaq recorded 27 new highs and 63 new lows.

Persons: Brendan McDermid, Blackstone, China stoked, Jason Pride, Alibaba, Goldman Sachs, advancers, Shristi Achar, Arun Koyyur, Shounak Organizations: New York Stock Exchange, REUTERS, China, Dow, Nasdaq, Apple, PDD Holdings, Baidu, Labor, Traders, Dow Jones, Blackstone, NYSE, Thomson Locations: New York City, U.S, China, United States, Europe, Saudi Arabia, Russia, Bengaluru

☆ Analysis: US healthcare stocks roiled by investor tug of war over economy
▼ + stars: | 2023-09-05 | by ( David Randall | ) www.reuters.com time to read: +5 min

Many view healthcare as a defensive sector because it has constant demand and is somewhat insulated from the economy. In the latest week, investors pulled a net $1.4 billion from the sector, the biggest weekly outflow since May 2022. Overall, the healthcare sector - which ranges from health insurers like UnitedHealth to pharmaceutical companies like Pfizer to small biotechs - has received the third largest inflows of any sector year to date, BofA's data showed. This would weaken the case for loading up on healthcare stocks. Overall, healthcare sector earnings are expected to lag this year as COVID-related revenues decline 13% versus a 1.8% rise for the overall S&P 500.

Persons: Brendan McDermid, Bob Kalman, Emily Roland, Dan Lyons, Janus Henderson, you've, Lyons, Kalman, Joe Biden's, Margie Patel, Patel, David Randall, Ira Iosebashvili, Megan Davies, David Gregorio, Richard Chang Organizations: New York Stock Exchange, REUTERS, Atlanta Federal, BofA Global Research, Pfizer, Miramar Capital, Healthcare, John Hancock Investment Management, Janus Henderson Investors, U.S, Bristol Myers Squibb, Allspring Global Investments, Thomson Locations: New York City, U.S

☆ Recent pullback creating a buying opportunity in certain airline stocks, says Deutsche Bank
▼ + stars: | 2023-09-05 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

A recent sell-off in airline stocks has created an attractive entry point — but investors should be careful about which names they buy, according to Deutsche Bank. Airline stocks have pulled back about 15% since peaking in mid-July, analyst Michael Linenberg told clients in a note released Monday. That comes as investors attempt to gauge how rising fuel prices, increases in domestic capacity and macro economic uncertainty will impact these companies. AAL DAL,UAL YTD mountain The three airlines this year Airline stocks, he said, are discounting a hard economic landing unlike the broader market. High fuel prices have also been a key driver of downward pressure on these stocks, he said.

Persons: Michael Linenberg, Linenberg, AAL DAL, — CNBC's Michael Bloom Organizations: Deutsche Bank . Airline, NYSE Arca, nab, International, Sun Locations: Delta, United, China, Alaska, Allegiant, SkyWest

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