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☆ Wall St drops as focus shifts to Fed rate decision
▼ + stars: | 2022-10-31 | by ( Amruta Khandekar | ) www.reuters.com time to read: +4 min

A policy decision from the Fed is due on Wednesday, with investors expecting a fourth straight 75-basis point interest rate hike to curb decades-high inflation. Among S&P 500 sectors, information technology (.SPLRCT) and communication services (.SPLRCL) were the lead decliners, falling 1.2% and 1.5%, respectively. Meanwhile, traders' bets of a 50 basis point rate hike in December stood at 44.6%, according to CME Group's Fedwatch tool. Among single stocks, TuSimple Holdings (TSP.O) plunged 46.8% after the trucking firm said its board terminated its chief executive officer. The S&P index recorded 22 new 52-week highs and seven new lows, while the Nasdaq recorded 101 new highs and 79 new lows.

☆ Watch CNBC's full interview with Citi's Scott Chronert and Wedbush Securities' Sahak Manuelian
▼ + stars: | 2022-10-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Citi's Scott Chronert and Wedbush Securities' Sahak ManuelianScott Chronert, Citi U.S. equity strategist, and Sahak Manuelian, Wedbush Securities head of equity trading, join 'Closing Bell' to reflect on Big Tech earnings, the rate implications for tech valuations and the economic fallout of higher rates.

☆ As we enter recession territory next year, we'll find much of tech is earnings resilient, says Citi's Chronert
▼ + stars: | 2022-10-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAs we enter recession territory next year, we'll find much of tech is earnings resilient, says Citi's ChronertScott Chronert, Citi U.S. equity strategist, and Sahak Manuelian, Wedbush Securities head of equity trading, join 'Closing Bell' to reflect on big tech earnings, the rate implications for tech valuations and the economic fallout of higher rates.

The bank will now have three operating segments - asset and wealth management, global banking and markets, and platform solutions. Goldman Sachs outlined leadership changes for the new units, with Marc Nachmann becoming global head of the asset and wealth management division. In the consumer and wealth management business, Goldman saw revenue jump 18% to $2.38 billion in the quarter, reflecting higher demand for loans and higher fees from managing assets. Goldman said its consumer unit will be folded into two separate businesses - wealth management and the newly created platform solutions. The Platform Solutions unit will include GreenSky, the fintech lender Goldman bought in a $2.2 billion deal.

☆ Stock futures rise slightly after a rollercoaster week
▼ + stars: | 2022-10-16 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Stock futures edged higher in overnight trading Sunday as investors awaited big earnings reports to roll in. S&P 500 futures and Nasdaq 100 futures both inched 0.3% higher. The S&P 500 just came off its fourth negative week in five with a 1.6% loss last week. JPMorgan and Wells Fargo reported solid results last week, while Morgan Stanley's equity trading revenue disappointed. Johnson & Johnson, United Airlines, AT&T, Verizon and Procter & Gamble are other big companies on investors' radar.

☆ Morgan Stanley's 3rd-quarter earnings fall short of expectations as investment banking revenue slides 55%
▼ + stars: | 2022-10-14 | by ( Carla Mozée | ) www.businessinsider.com time to read: +3 min

Morgan Stanley on Friday posted third-quarter earnings and revenue that fell short of expectations. The Wall Street giant said an uncertain macroenvironment led to investment banking revenue tumbling by 55% to $1.27 billion. But investment banking revenue sank by 55%, dropping to $1.277 billion from $2.85 billion, with the company citing an uncertain macroeconomic environment as driving limited activity in that portion of its operations. "While Investment Banking and Investment Management were impacted by the market environment, Fixed Income and Equity navigated challenging markets well." But weak stock prices this year suggest investors have been concerned that higher borrowing rates and a potential recession could crimp loan demand and investment banking activity.

Earlier in the day the British central bank said it would continue to buy bonds this week. The pan-European STOXX 600 index (.STOXX) lost 0.56% and MSCI's gauge of stocks across the globe (.MIWD00000PUS) shed 0.97%. Emerging market stocks (.MSCIEF) lost 2.28% after hitting an April 2020 low and were set for a near-30% tumble year-to-date, their biggest decline since 2008. read moreGILT RESPITEBonds globally have been sideswiped by the rout in UK government bonds, known as gilts, pushing yields on U.S. Treasuries up sharply. Bond market trading was volatile with longer-dated U.S. Treasury yields hitting multi-year highs.

Investors were also digesting the latest moves by the Bank of England, which continued to support its bond market. read moreIn addition, the International Monetary Fund on Tuesday warned of a disorderly repricing in markets, saying global financial stability risks have increased. "Nothing has happened," to cause the rebound said Michael James, managing director of equity trading at Wedbush Securities in Los Angeles. The pan-European STOXX 600 index (.STOXX) lost 0.56% and MSCI's gauge of stocks across the globe (.MIWD00000PUS) shed 0.79%. 1/5 A trader works on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., October 11, 2022.

☆ Dow, S&P 500 rise after recent losses; investors prepare for inflation, earnings data
▼ + stars: | 2022-10-11 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

Register now for FREE unlimited access to Reuters.com RegisterInvestors were anxiously awaiting the producer price index report Wednesday and consumer price index data on Thursday. "A few investors might be trying to bet on a better-than-expected inflation report," said Paul Nolte, portfolio manager at Kingsview Investment Management in Chicago. The S&P bank index (.SPXBK) was down 1.1% ahead of quarterly results from some major banks later this week. The reports are expected to kick off the third-quarter reporting period for S&P 500 companies. The S&P 500 posted one new 52-week high and 95 new lows; the Nasdaq Composite recorded 19 new highs and 517 new lows.

☆ Treasury yields jump before Fed meeting, dollar gains
▼ + stars: | 2022-09-19 | by ( Herbert Lash | ) www.reuters.com time to read: +6 min

The higher yield helped strengthen the dollar and made gold less attractive as concerns about the economy in light of higher rates cooled risk taking. After the past three Fed meetings, there have been relief rallies in bonds and equities as markets interpreted Powell as being dovish. read moreThe two-year yield , a barometer of future inflation expectations, climbed to a fresh almost 15-year high of 3.970%. read moreThe dollar rose 0.21% against the yen , backing off from the 24-year peak of 144.99 two weeks ago amid increasingly strident intervention warnings from Japanese policymakers. The dollar index rose 0.055%, with the euro up 0.06% to $1.0021.

Register now for FREE unlimited access to Reuters.com RegisterUnexpectedly hot August inflation data last week also raised bets on increased rate hikes down the road, with the terminal rate for U.S. fed funds now at 4.46%. It's a lower volume market, which means that folks are probably just sitting tight at this point waiting to see the next step." Focus will also be on new economic projections, due to be published alongside the Fed's policy statement at 2 p.m. Four of the 11 S&P 500 sectors were lower. Tech heavyweights Apple Inc (AAPL.O) and Tesla Inc (TSLA.O) rose more than 1% each to provide the biggest boost to S&P 500 and the Nasdaq.

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. Five of the 11 S&P 500 sectors were lower. Tech heavyweights Apple Inc (AAPL.O) and Tesla Inc (TSLA.O) rose more than 1% each to provide the biggest boost to S&P 500 and the Nasdaq. read moreThe CBOE volatility index (.VIX), also known as Wall Street's fear gauge, rose to 26.67 points. Declining issues outnumbered advancers for a 1.31-to-1 ratio on the NYSE and for a 1.92-to-1 ratio on the Nasdaq.

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