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☆ Gold steadies; poised for second weekly gain on weaker dollar
▼ + stars: | 2023-11-24 | by ( Brijesh Patel | ) www.reuters.com time to read: +2 min

REUTERS/Alexander Manzyuk/File Photo Acquire Licensing RightsSummaryCompanies Gold up 0.7% so far this weekPlatinum eyes second weekly gainDollar heads for second weekly fallNov 24 (Reuters) - Gold held steady on Friday, set for its second consecutive weekly gain, supported by a weaker U.S. dollar as markets grew confident that the Federal Reserve was done with its interest rate hikes. The dollar index (.DXY) slipped 0.2% against its rivals and was on track for a second weekly drop, making gold less expensive for other currency holders. Earlier this week, the Fed minutes showed the central bank would proceed "carefully" and "all participants judged it appropriate to maintain" the current rate setting. "There is that disconnect between market expectations for rates and what the Fed minutes showed and that's what's causing some hesitation in the price of gold," Waterer said. Platinum was flat at $915.57, but was heading for its second weekly rise.

Persons: Alexander Manzyuk, Tim Waterer, CME's, Waterer, Brijesh Patel, Sherry Jacob, Phillips, Rashmi Organizations: REUTERS, Federal, KCM Trade, Thomson Locations: Novosibirsk, Siberian, Russia, U.S, Bengaluru

☆ Gold poised for second weekly gain as Fed pause hopes hurt dollar
▼ + stars: | 2023-11-24 | by ( ) www.cnbc.com time to read: +2 min

REUTERS/Alexander ManzyukGold held steady on Friday, set for its second consecutive weekly gain, supported by a weaker U.S. dollar as markets grew confident that the Federal Reserve was done with its interest rate hikes. The dollar index was on track for a second weekly drop, making gold less expensive for other currency holders. Markets have dialed back expectations of Fed rate cuts in 2024 after data showed number of Americans filing new claims for unemployment benefits fell more than expected last week. Earlier this week, the Fed minutes showed the central bank would proceed "carefully" and "all participants judged it appropriate to maintain" the current rate setting. Platinum eased 0.1% to $914.68, but was heading for its second weekly rise.

Persons: Alexander Manzyuk Gold, Tim Waterer, CME's, Waterer, Wang Tao Organizations: REUTERS, Federal, KCM Trade Locations: Siberian, Krasnoyarsk, Russia, U.S

☆ Gold ticks higher as weaker US dollar, yields lend support
▼ + stars: | 2023-11-23 | by ( ) www.reuters.com time to read: +2 min

One kilo gold bars are pictured at the plant of gold and silver refiner and bar manufacturer Argor-Heraeus in Mendrisio, Switzerland, July 13, 2022. REUTERS/Denis Balibouse/File Photo Acquire Licensing RightsNov 23 (Reuters) - Gold prices edged higher on Thursday, hovering close to a key $2,000 per ounce level, as an overall weaker dollar and lower U.S. Treasury yields buoyed demand for bullion. FUNDAMENTALS* Spot gold was up 0.1% at $1,992.59 per ounce, as of 0143 GMT, after hitting a three-week high of $2,007.29 on Tuesday. * Lower interest rates decrease the opportunity cost of holding gold. DATA/EVENTS (GMT) 0745 France Business Climate Mfg, Overall Nov0815 France HCOB Mfg, Serv, Comp Flash PMIs Nov0830 Germany HCOB Mfg, Serv, Comp Flash PMIs Nov0900 EU HCOB Mfg, Serv, Comp Flash PMIs Nov0930 UK Flash Comp, Mfg, Serv PMIs NovReporting by Brijesh Patel in Bengaluru; Editing by Rashmi AichOur Standards: The Thomson Reuters Trust Principles.

Persons: Denis Balibouse, CME's, Serv, Brijesh Patel, Rashmi Organizations: REUTERS, Treasury, . Federal Reserve, Trust, Climate Mfg, France HCOB, Germany HCOB, Mfg, Thomson Locations: Mendrisio, Switzerland, France, Germany, Bengaluru

☆ Gold gains as weaker U.S. dollar, yields lift demand
▼ + stars: | 2023-11-23 | by ( ) www.cnbc.com time to read: +2 min

A worker handles an Argor-Heraeus SA one kilogram gold bar at Solar Capital Gold Zrt. arranged in Budapest, HungaryGold prices rose on Thursday, hovering close to a key $2,000 per ounce level, as an overall weaker U.S. dollar and lower Treasury yields buoyed demand for bullion. The dollar was down 0.1% against its rivals after gains in the last two sessions, making gold less expensive for other currency holders. The benchmark U.S. 10-year Treasury yields fell to a two-month low on Wednesday. Lower interest rates decrease the opportunity cost of holding gold.

Persons: Kelvin Wong, CME's Organizations: Heraeus SA, Solar, U.S, U.S ., Asia Pacific, . U.S, U.S . Federal Reserve, Fed Locations: Budapest, Hungary, ., OANDA

☆ Dollar climbs after U.S. labor, consumer sentiment data
▼ + stars: | 2023-11-22 | by ( Chuck Mikolajczak | ) www.reuters.com time to read: +4 min

"The fact that we are seeing a drop definitely suggests that the labor market is not cooling as quickly as markets or the Fed might have been expecting there," said Karl Schamotta, chief market strategist at Corpay in Toronto. Schamotta also said market participants were maintaining relatively high dollar positions before liquidity dries up before the U.S. Thanksgiving holiday on Thursday. The greenback extended gains after the University of Michigan's survey of consumer sentiment showed U.S. consumers' inflation expectations rose for a second straight month in November. UMich inflation expectationsThe dollar index rose 0.37% to 103.9, on track for its biggest one-day percentage gain since Nov 9. The Japanese yen weakened 0.82% to 149.61 per dollar, while Sterling was last trading at $1.249, down 0.37% on the day.

Persons: Karl Schamotta, Schamotta, CME's, policymaker Mario Centeno, Joachim Nagel, Sterling, Jeremy Hunt, Changpeng Zhao, Zhao, Chuck Mikolajczak, Will Dunham, Richard Chang Organizations: Labor Department, Reuters, United Auto Workers, UAW, Detroit's Big, Federal, Fed, University of Michigan's, European Central Bank, Investors, Thomson Locations: Toronto, U.S

☆ Dollar strengthens after U.S. labor, consumer sentiment data
▼ + stars: | 2023-11-22 | by ( Chuck Mikolajczak | ) www.reuters.com time to read: +3 min

Schamotta also said market participants were maintaining relatively high dollar positions before liquidity dries up before the U.S. Thanksgiving holiday on Thursday. The Fed minutes showed Fed officials said inflation remained well above their target but noted that rates would need to be raised only if new data showed insufficient progress on reducing price pressures. The greenback extended gains after the University of Michigan's survey of consumer sentiment showed U.S. consumers' inflation expectations rose for a second straight month in November. The dollar index rose 0.64% at 104.17 and was on track for its biggest one-day percentage gain since Oct 24. The Japanese yen weakened 0.86% versus the greenback at 149.66 per dollar, while Sterling was last trading at $1.246, down 0.65% on the day.

Persons: Karl Schamotta, Schamotta, CME's, Mario Centeno, Sterling, Chuck Mikolajczak, Will Dunham Organizations: Labor Department, Reuters, United Auto Workers, UAW, Detroit's Big, Federal, Fed, University of Michigan's, European Central Bank, Thomson Locations: Toronto, U.S

☆ Gold slips below $2,000 level as dollar halts slide
▼ + stars: | 2023-11-22 | by ( Brijesh Patel | ) www.reuters.com time to read: +2 min

Spot gold was down 0.1% at $1,996.33 per ounce, as of 0335 GMT. However, "the move lower in the U.S. dollar looks overextended ... And with an effective 4-day weekend looming in the U.S., gold currently lacks the legs to commit fully above $2,000." A weaker dollar makes gold less expensive for other currency holders. Data on Tuesday showed U.S. existing home sales dropped to the lowest level in more than 13 years in October. Swiss gold exports in October rose to their highest level since May as deliveries to India surged to meet demand during the country's festive season, customs data showed.

Persons: Alexander Manzyuk, Matt Simpson, CME's, Brijesh Patel, Sherry Jacob, Phillips Organizations: REUTERS, U.S . Federal Reserve, Index, U.S, Thomson Locations: Novosibirsk, Siberian, Russia, U.S, Swiss, India, Bengaluru

☆ Dollar hovers near 2-1/2-month lows, easing pressure on yen
▼ + stars: | 2023-11-22 | by ( ) www.cnbc.com time to read: +3 min

The Japanese yen and U.S. dollar on display in Yichang, Hubei province, Nov 13, 2023. The dollar index held around 2-1/2-month lows after minutes of the Federal Reserve's last meeting did little to dislodge market expectations that its monetary tightening cycle was over. Treasury yields slipped again overnight to hover around 4.40%, easing further pressure on the yen. The Japanese yen advanced around 0.1% versus the greenback to 148.28, clinging to recent gains after ticking up slightly from as low as 147.155 overnight. While speculation that the Bank of Japan could exit from negative interest rates early next year should help stabilize the yen, the Japanese currency still faces strong headwinds.

Persons: Matt Simpson, CME's, Sterling, Simpson, Tony Sycamore Organizations: U.S, Index, Treasury, Bank of Japan, IG Locations: Yichang, Hubei province, U.S

☆ Dollar extends fall ahead of Fed minutes, yen strengthens
▼ + stars: | 2023-11-21 | by ( Chuck Mikolajczak | ) www.reuters.com time to read: +2 min

NEW YORK, Nov 21 (Reuters) - The dollar index fell for a third straight session on Tuesday ahead of minutes from the U.S. Federal Reserve's most recent policy meeting as expectations grow the central bank will start to cut rates in the early portion of next year. Bregar noted, however, the downward move in the greenback may be starting to run out of steam and big option expirations in the eurodollar and yen could stabilize the dollar. The dollar index fell 0.13% to 103.31 after falling to a fresh 2-1/2 month low of 103.17, its lowest since Aug. 31. The weakness in the dollar has buoyed the yen, along with expectations the Bank of Japan may eventually start to move off its ultra-loose monetary policy next year. The yen strengthened 0.42% versus the greenback to 147.76 per dollar after the greenback hit its lowest level since mid-September at 147.14 yen, while sterling was last trading at $1.254, up 0.29% on the day.

Persons: CME's, Erik Bregar, It's, it's, Bregar, Chuck Mikolajczak, Nick Macfie Organizations: U.S, U.S . Federal, Bull, Bank of Japan, greenback, Thomson Locations: U.S ., Toronto

☆ S&P 500 to see small gain in 2024 as US economic risks rise - Reuters poll
▼ + stars: | 2023-11-21 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +4 min

The S&P 500 is up about 18% for 2023 to date. WFII sees the S&P 500 ending next year between 4,600 and 4,800. Geopolitical problems are among other risks to the market heading into 2024, strategists said, with investors closely watching the war between Israel and Hamas militants in Gaza. Overall S&P 500 earnings growth for 2023 is estimated at 2.3% after a weak first half of the year, according to LSEG data. The S&P 500 index's forward 12-month price-to-earnings ratio is now at 19.1, up from 17 at the end of 2022 and its long-term average of about 16, based on LSEG data.

Persons: Brendan McDermid, Paul Christopher, WFII, CME's, Goldman, Tim Ghriskey, Ingalls & Snyder, Dow, Caroline Valetkevitch, Chuck Mikolajczak, Sinead Carew, Stephen Culp, Pranoy Krishna, Rahul Trivedi, Sarupya Ganguly, Alexandra Hudson Organizations: New York Stock Exchange, REUTERS, Reuters, Wall, Federal, Wells, Wells Fargo Investment Institute, U.S, Ingalls &, Dow, Alexandra Hudson Our, Thomson Locations: New York City, U.S, Wells Fargo, Israel, Gaza, New York, Monday's, Bengaluru

☆ Gold rises on dollar weakness as focus turns to Fed minutes
▼ + stars: | 2023-11-21 | by ( Brijesh Patel | ) www.reuters.com time to read: +2 min

The dollar languished near more than a 2-1/2-month low as investors expect U.S. interest rates to fall next year. A weaker dollar makes gold less expensive for other currency holders. Signs of slowing inflation in the United States has boosted expectations that the U.S. central bank was done raising interest rates. Lower interest rates decrease the opportunity cost of holding gold. Inflation is likely to remain "stubborn" and force the Fed to keep interest rates elevated for longer than investors anticipate, Richmond Fed president Thomas Barkin said.

Persons: Alexander Manzyuk, Edward Meir, CME's, Jerome Powell, It's, Meir, Thomas Barkin, Brijesh Patel, Sherry Jacob, Phillips Organizations: REUTERS, Treasury, Federal, Benchmark, Richmond Fed, Thomson Locations: Novosibirsk, Siberian, Russia, U.S, United States, Bengaluru

☆ Dollar falls to 2-1/2 month low on Fed expectations, yen strengthens
▼ + stars: | 2023-11-20 | by ( Chuck Mikolajczak | ) www.reuters.com time to read: +3 min

U.S. Dollar and Euro banknotes are seen in this illustration taken July 17, 2022. Markets have priced out any additional Fed rate hikes, as recent data has shown a slowing of the economy and inflation pressures - but not enough to increase fears a sharp recession is looming. "The market is convinced, both credit, equities and currencies that the Fed has finished raising rates, but the Fed is not willing to say so. "So you're getting a gradual weakening in the dollar, simply because the Fed is doing its best to prop up rates, not necessarily the dollar, but to prop up rates." Against the yen the dollar was last traded at 148.36 yen , down 0.84%.

Persons: Dado Ruvic, CME's, we've, Joseph Trevisani, Thomas Barkin, Moody's, Sterling, Chuck Mikolajczak, Jonathan Oatis Organizations: REUTERS, U.S . Federal Reserve, Conference, Fed, Richmond Federal, Central Bank, Thomson Locations: U.S

☆ Dollar falls to two-month low on Fed view, yen strengthens
▼ + stars: | 2023-11-20 | by ( Chuck Mikolajczak | ) www.reuters.com time to read: +3 min

U.S. Dollar and Euro banknotes are seen in this illustration taken July 17, 2022. Markets have priced out any additional Fed rate hikes, as recent data has showed a slowing of the economy and inflation pressures - but not enough to increase fears a sharp recession is looming. "The market is convinced, both credit, equities and currencies that the Fed has finished raising rates, but the Fed is not willing to say so. "So you're getting a gradual weakening in the dollar, simply because the Fed is doing its best to prop up rates, not necessarily the dollar, but to prop up rates." Against the yen the dollar was traded at 148.40 yen , down 0.81%.

Persons: Dado Ruvic, CME's, we've, Joseph Trevisani, Thomas Barkin, Moody's, Sterling, Chuck Mikolajczak, Jonathan Oatis Organizations: REUTERS, U.S . Federal Reserve, Conference, Fed, Reserve Bank of Richmond, Central Bank, Thomson Locations: U.S

☆ Morning Bid: Consumers in focus as Walmart reports
▼ + stars: | 2023-11-16 | by ( ) www.reuters.com time to read: +3 min

A look at the day ahead in European and global markets from Vidya Ranganathan. Thursday's corporate calendar features a host of earnings reports that will shine further light on the health of the global consumer, as U.S. retailers Walmart (WMT.N), Bath & Body Works and Macy's (M.N) report earnings. Expectations for Walmart ride high after peer Target (TGT.N) surged by almost a fifth on Wednesday in the wake of its consensus-beating holiday sales forecast and upbeat view of its supply chain. Figures on Wednesday showed U.S. producer prices fell at their fastest pace since April 2020, and UK consumer inflation undershot all forecasts. Reuters GraphicsMeanwhile in Asia, Japan's exports are struggling due to slumping China-bound shipments of chips and steel.

Persons: Vidya Ranganathan, Eddie Wu, Christine Lagarde, Jerome Powell, What's, Joe Biden, Xi Jinping, England's Randall Kroszner, ECB's Christine Lagarde, Luis de Guindos, Fed's Loretta Mester, John Williams, Michael Barr, Jacqueline Wong Organizations: Vidya, Walmart, Body, Insider Intelligence, U.S, Bank, Events, Applied Materials, Siemens, SQM, Thomson Locations: U.S, Asia, China, San Francisco, Bath, France

Powell's remarks on Thursday that the fight to restore price stability "had a long way to go" at first roiled markets. "If we were to get a low CPI next week, yields can come down around that number and we may get some weakening in the dollar." MSCI's gauge of global equity performance (.MIWD00000PUS) gained 0.54%, while stocks on Wall Street surged 1% or more. U.S. Treasury yields rose sharply on Thursday after a very weak 30-year bond auction. U.S. crude rose $1.43 to settle at $77.17 a barrel, while Brent settled up $1.42 at $81.43 a barrel.

Persons: Kim Kyung, Jerome Powell, Michael James, Thierry Wizman, Wizman, Mullarkey, Tapas Strickland, Brent, Nell Mackenzie, Dhara Ranasignhe, Tomasz Janowski, Richard Chang Organizations: Tokyo Stock Exchange, REUTERS, Wall, Federal, Wedbush Securities, Fed, FX, Dow Jones, Nasdaq, U.S, Treasury, SLC Management, Reuters, NAB, New, Thomson Locations: Tokyo, Japan, Los Angeles, Macquarie, New York, Europe, Boston, China, Beijing, New Zealand, London

"If we were to get a low CPI next week, yields can come down around that number and we may get some weakening in the dollar," Wizman said. The two-year Treasury yield, which reflects interest rate expectations, fell 0.2 basis points to 5.020%, while the benchmark 10-year yield was down 3.2 basis points at 4.598%. Traders would be keeping a close watch on interest rate volatility, said Schneller, noting major market fluctuations recently. "A primary cause for this volatility is the debate over whether the current Fed funds rate is overly high or insufficient." In currency markets, the dollar index rose 0.019% to 105.91, with the euro up 0.04% to $1.067.

Persons: Kim Kyung, Powell, Jerome Powell, Thierry Wizman, Wizman, Powell's, Bruno Schneller, Schneller, Tapas Strickland, Brent, Nell Mackenzie, Dhara Ranasignhe, Tomasz Janowski, Richard Chang Organizations: Tokyo Stock Exchange, REUTERS, Global, International Monetary Fund, Fed, FX, Dow Jones, Nasdaq, Treasury, INVICO Asset Management, Reuters Graphics U.S, NAB, New, Thomson Locations: Tokyo, Japan, Macquarie, New York, China, Beijing, New Zealand, London

☆ Asia stocks slide as Powell comments quell rate peak bets
▼ + stars: | 2023-11-10 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

The sombre mood is set to continue as Europe wakes up, with futures indicating a steeply lower open. Eurostoxx 50 futures were down 0.73%, German DAX futures dropped 0.66% and FTSE futures were 0.78% lower. The Fed is "committed to ... monetary policy that is sufficiently restrictive to bring inflation down to 2% over time," Powell said at an International Monetary Fund event. U.S. rate futures have priced in about 60% chance of a rate cut at the Fed's June 2024 meeting, according to the CME's FedWatch tool, compared to odds of about 70% before Powell's speech. The oil market has been reeling this week on demand concerns, with a fading war-risk premium triggering a sell-off.

Persons: Kim Kyung, Powell, Jerome Powell, DAX, Rob Carnell, Powell's, ING's Carnell, there's, Hong, Tapas Strickland, Brent, Ankur Banerjee, Tom Hogue Organizations: Tokyo Stock Exchange, REUTERS, Fed, . Federal, International Monetary Fund, ING, Investors, Reuters, Nasdaq, NAB, New, Thomson Locations: Tokyo, Japan, EUROPE, SINGAPORE, U.S, Asia, Pacific, Europe, Beijing, New Zealand, Singapore

☆ Morning Bid: 'Not confident' Powell drags markets lower
▼ + stars: | 2023-11-10 | by ( ) www.reuters.com time to read: +3 min

Since the Fed left rates unchanged last week, markets had increasingly grown confident that the peak in U.S. rates was in sight. But up stepped Powell to squash any hopes of an impending rate cut. "[The Fed] is committed to achieving a stance of monetary policy that is sufficiently restrictive to bring inflation down to 2% over time," Powell said. That led stocks lower, with MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) skidding 1% to their lowest in a week. The rise in yields boosted the dollar, which is headed for its best week against the yen in three months.

Persons: Jerome Powell, Kevin Lamarque, Ankur Banerjee, Powell, Christine Lagarde, Walt Disney, policymaker Joachim Nagel, SNB's Thomas Moser, Edmund Klamann Organizations: Monetary Fund's, REUTERS, Ankur, European bourses, Treasury, Industrial, Commercial Bank of China's, U.S . Treasury, Reuters, Thomson Locations: Washington , U.S, Asia, Pacific, Japan, European, U.S, Commercial Bank of China's U.S, Norway, Sweden

☆ Falling Treasury yields could turn Fed hawkish if financial conditions ease
▼ + stars: | 2023-11-09 | by ( David Randall | ) www.reuters.com time to read: +5 min

REUTERS/Kevin Lamarque/File Photo Acquire Licensing RightsNEW YORK, Nov 9 (Reuters) - Falling Treasury yields helped launch an explosive rebound in stocks and lifted U.S. government bonds from 16-year lows. Evidence of the dynamic between yields and financial conditions could be seen in last week’s 0.5% decline in the Goldman Sachs Financial Conditions Index, its sixth biggest weekly drop since 1990. Policymakers have largely refrained from verbally pushing back on the easing in financial conditions during a flurry of appearances by policymakers this week. Analysts at TD Securities, however, believe further easing in Treasury yields will eventually become a "double-edged sword." To be sure, not every scenario sees the Fed in a higher-for-longer posture if Treasury yields continue falling.

Persons: Jerome Powell, Kevin Lamarque, Brian Jacobsen, Jacobsen, CME's, Sameer Samana, David Randall, Saqib Iqbal Ahmed, Ira Iosebashvili, Andrea Ricci Organizations: Federal Reserve, Federal, Committee, REUTERS, Goldman, Treasury, Annex Wealth Management, Reuters Graphics, International Monetary Fund, TD Securities, Fed, Wells, Investment Institute, Thomson Locations: Washington , U.S, United States, China, Samana, U.S

☆ S&P 500, Nasdaq score longest win streak in 2 years on rates view
▼ + stars: | 2023-11-07 | by ( ) www.reuters.com time to read: +4 min

Fellow Governor Michelle Bowman said she took the recent Gross Domestic Product number as evidence the economy not only "remained strong," but might have gained speed and requires a higher Fed policy rate. The Dow Jones Industrial Average (.DJI) rose 56.94 points, or 0.17%, to 34,152.8; the S&P 500 (.SPX) gained 12.40 points, or 0.28 %, at 4,378.38 and the Nasdaq Composite (.IXIC) added 121.08 points, or 0.90 %, at 13,639.86. The S&P 500 (.SPX) scored its seventh straight day in the green, with the Nasdaq (.IXIC) recording its eighth straight advance, the longest such streak for each index in two years. The Dow gained for a seventh straight session, its longest since a 13-session run in July. The S&P 500 posted 15 new 52-week highs and three new lows while the Nasdaq recorded 48 new highs and 145 new lows.

Persons: CME's, Christopher Waller, Michelle Bowman, Neel Kashkari, Austan Goolsbee, Jerome Powell, Powell, Ken Polcari, Brendan McDermid, Dow, Lorie Logan, Chuck Mikolajczak, Richard Chang Organizations: Dow, Nasdaq, Treasury, Federal Reserve, Fed, Federal Reserve Bank of Minneapolis, Chicago Fed, Kace Capital Advisors, New York Stock Exchange, REUTERS, Microsoft, Apple, Dow Jones, . Energy, Dallas Federal Reserve Bank, Uber Technologies, NYSE, Thomson Locations: U.S, Boca Raton , Florida, New York City

☆ Wall St extends winning streak; eyes Fed speakers, Treasury auctions
▼ + stars: | 2023-11-06 | by ( Chuck Mikolajczak | ) www.reuters.com time to read: +4 min

Expectations the Fed was likely done with rate hikes sent the S&P 500 up 5.85% last week and the Nasdaq up 6.61%, their biggest weekly jumps since November 2022. The session marks the sixth straight advance for the Dow and S&P 500 and seventh straight gain for the Nasdaq. The streak is the longest for the S&P 500 since early June, since July for the Dow and since January for the Nasdaq. A total of 403 companies in the S&P 500 have reported profits through Friday the third quarter, with 81.6% surpassing analyst estimates, per LSEG data. The S&P 500 posted nine new 52-week highs and no new lows while the Nasdaq recorded 46 new highs and 113 new lows.

Persons: Bumble, CME's, Jerome Powell, John Williams, Lorie Logan, Stephen Massocca, Brendan McDermid, Walt Disney, Erik Carlson, Whitney Wolfe, Chuck Mikolajczak, Richard Chang Organizations: Federal Reserve, New York Fed, Dallas Fed, Wedbush Securities, Nasdaq, New York Stock Exchange, REUTERS, Dow Jones, Dow, University of, Dish Network, NYSE, Thomson Locations: New, San Francisco, New York City, U.S

☆ Wall St flat after rally as Fed speakers, Treasury auctions eyed
▼ + stars: | 2023-11-06 | by ( Chuck Mikolajczak | ) www.reuters.com time to read: +3 min

A trader works on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., October 27, 2023. Markets will look for more clarity on the Fed's intentions from officials speaking later in the week, including Chair Jerome Powell, and voting members such as New York Fed chief John Williams and Dallas Fed President Lorie Logan. Expectations the Fed was likely done with rate hikes sent the S&P 500 up 5.85% last week and the Nasdaq up 6.61%, their biggest weekly jumps since November 2022. A total of 403 companies in the S&P 500 have reported profits through Friday the third quarter, with 81.6% surpassing analyst estimates, per LSEG data. The S&P 500 posted nine new 52-week highs and no new lows while the Nasdaq recorded 43 new highs and 99 new lows.

Persons: Brendan McDermid, CME's, Jerome Powell, John Williams, Lorie Logan, Stephen Massocca, Walt Disney, Erik Carlson, Whitney Wolfe, Chuck Mikolajczak, Richard Chang Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Federal Reserve, New York Fed, Dallas Fed, Wedbush Securities, University of, Dow Jones, Dish Network, NYSE, Thomson Locations: New York City, U.S, New, San Francisco

☆ US dollar drops to six-week low after softer-than-expected jobs data
▼ + stars: | 2023-11-03 | by ( Gertrude Chavez-Dreyfuss | ) www.reuters.com time to read: +4 min

[1/4] U.S. one dollar banknotes are seen in front of displayed stock graph in this illustration taken, February 8, 2021. The index was on track for its largest one-day fall since July. The numbers for September were revised lower to show 297,000 jobs created instead of 336,000 as previously reported. Against the yen, the dollar slid 0.6% to 149.53 yen , capping a whirlwind week, in which the Japanese currency touched a one-year low against the dollar and 15-year trough against the euro. Sterling rose 1.1% versus the dollar to $1.2327, after earlier hitting a six-week high of $1.2350.

Persons: Dado Ruvic, Brad McMillan, Kazuo Ueda, Sterling, Jerome Powell, Gertrude Chavez, Dreyfuss, Chibuike Oguh, Alun John, Ankur Banerjee, Christina Fincher, Andrea Ricci Organizations: REUTERS, Sterling, Federal Reserve, Commonwealth Financial Network, Bank of Japan, Reuters, Treasury, U.S . Treasury Department, Thomson Locations: Waltham , Massachusetts, U.S, New York, London, Singapore

An aerial view shows an oil factory of Idemitsu Kosan Co. in Ichihara, east of Tokyo, Japan November 12, 2021, in this photo taken by Kyodo. Brent January crude futures rose 0.3%, or 28 cents, to $85.30 a barrel by 0330 GMT, after falling more than 1% on Tuesday. Brent December futures settled 4 cents lower at $87.41 a barrel at the contract's expiry on Tuesday. Interest rate hikes aimed at taming inflation can slow economic growth and reduce oil demand, while rate cuts to spur spending could increase oil consumption. The Fed, which will end its meeting on Wednesday, is expected to hold rates steady, according to a poll by CME's Fedwatch tool.

Persons: Brent, Edward Moya, CME's, Goldman Sachs, Antony Blinken, Mohi Narayan, Emily Chow, Jamie Freed Organizations: Kyodo, U.S . Federal Reserve, . West Texas, Treasury, Federal, Market, American Petroleum Institute, Central Bank, Bank of England, Israel, Thomson Locations: Idemitsu, Ichihara, Tokyo, Japan, DELHI, Israel, ., U.S, Europe, China, East, Gaza, New Delhi, Singapore

☆ Oil gains ahead of Fed meeting as Middle East conflict persists
▼ + stars: | 2023-11-01 | by ( ) www.cnbc.com time to read: +2 min

Oil prices edged up in early Asian trade on Wednesday ahead of key global central bank meetings this week including the U.S. Federal Reserve, as the market also closely watches the latest developments in the Israel-Hamas conflict. Brent January crude futures rose 36 cents, or 0.4%, to $85.38 a barrel by 0040 GMT, after falling $1.33 on Tuesday. Brent December futures settled 4 cents lower at $87.41 a barrel at the contract's expiry on Tuesday. Interest rate hikes aimed at taming inflation can slow economic growth and reduce oil demand, while rate cuts to spur spending could increase oil consumption. The Fed, which will end its meeting on Wednesday, is expected to hold rates steady, according to a poll by CME's Fedwatch tool.

Persons: Brent, Edward Moya, CME's, Goldman Sachs, Antony Blinken Organizations: Raffles, U.S . Federal Reserve, . West Texas, Treasury, Federal, Market, American Petroleum Institute, Central Bank, Bank of England, Israel Locations: Yantai, East China's Shandong province, Israel, ., Europe, East, Gaza, U.S

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