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☆ Wall Street eyes lower open on rate hike, recession worries
▼ + stars: | 2022-09-26 | by ( Shreyashi Sanyal | ) www.reuters.com time to read: +3 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 7, 2022. ET, Dow e-minis were down 139 points, or 0.47%, S&P 500 e-minis were down 21 points, or 0.57%, and Nasdaq 100 e-minis were down 51 points, or 0.45%. In premarket trading on Monday, cyclical stocks traded lower on worries that such sharp rate hikes could rattle the economy. The CBOE Volatility index (.VIX), also commonly known as Wall Street's fear gauge, hovered near three month highs. Register now for FREE unlimited access to Reuters.com RegisterReporting by Shreyashi Sanyal and Ankika Biswas in Bengaluru; Editing by Anil D'Silva and Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

☆ Futures shackled by rate-hike, recession worries
▼ + stars: | 2022-09-26 | by ( ) www.reuters.com time to read: +2 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 7, 2022. REUTERS/Brendan McDermidSummarySummary Companies Futures down: Dow 0.76%, S&P 0.75%, Nasdaq 0.47%Sept 26 (Reuters) - U.S. stock index futures fell on Monday, kicking off another week on softer footing, as investors worried that the Federal Reserve's aggressive push to curb inflation may tip the American economy into recession. ET, Dow e-minis were down 225 points, or 0.76%, S&P 500 e-minis were down 27.75 points, or 0.75%, and Nasdaq 100 e-minis were down 54 points, or 0.47%. "As the SPX tests its June lows, the question becomes is that alone good enough reason to buy?" "Given the acceleration higher in the dollar, global yields, and the breakdowns across global FX, it's hard to not have concerns about longer-term implications."

☆ Wall Street ends lower, Dow confirms bear market
▼ + stars: | 2022-09-26 | by ( Noel Randewich | ) www.reuters.com time to read: +3 min

After two weeks of mostly steady losses on the U.S. stock market, the Dow Jones Industrial Average (.DJI) confirmed it has been in a bear market since early January. With the Fed signaling last Wednesday that high interest rates could last through 2023, the S&P 500 has relinquished the last of its gains made in a summer rally. According to a widely used definition, ending the session down 20% or more from its record high close confirms the Dow has been in a bear market since hitting its January peak. In Monday's session, the Dow Jones Industrial Average (.DJI) fell 1.11% to end at 29,260.81 points, while the S&P 500 (.SPX) lost 1.03% to 3,655.04. The S&P 500 posted no new 52-week highs and 120 new lows; the Nasdaq Composite recorded 16 new highs and 594 new lows.

☆ Polish inflation could rise in September, finance minister says
▼ + stars: | 2022-09-24 | by ( ) www.reuters.com time to read: +1 min

Register now for FREE unlimited access to Reuters.com RegisterThe Palace of Culture is seen from the construction site of new skyscraper in Warsaw, Poland October 2, 2015. REUTERS/Kacper PempelWARSAW, Sept 24 (Reuters) - Inflation in Poland could rise slightly in September, the country's finance minister said on Saturday, adding that she still believed it would reach a peak this year. "We forecast that in September there could be growth in inflation to around 16.4%," Magdalena Rzeczkowska told private broadcaster RMF FM. Register now for FREE unlimited access to Reuters.com RegisterIn August, inflation was 16.1%, according to statistics office data. Register now for FREE unlimited access to Reuters.com RegisterReporting by Alan Charlish; Editing by David Clarke and Jane MerrimanOur Standards: The Thomson Reuters Trust Principles.

☆ S.Korean won falls through key level after Fed hike
▼ + stars: | 2022-09-21 | by ( Choonsik Yoo | ) www.reuters.com time to read: +2 min

A South Korea won note is seen in this illustration photo May 31, 2017. The won fell as much as 0.9% to 1,406.8 per dollar in early onshore trading, marking the first time it crossed the 1,400-won mark since late March 2009. Both the finance ministry and the central bank separately issued warnings that they would act against excessive movements in the foreign exchange market. "The authorities will introduce various measures aimed at easing a supply-demand imbalance for foreign currencies from the pension fund and foreign trading companies," Minister Choo Kyung-ho said at a meeting of senior officials. Both the Bank of Korea and the National Pension Service declined to comment on the reports.

☆ IMF staff back $4 billion tranche for Argentina, praise 'decisive' steps
▼ + stars: | 2022-09-19 | by ( ) www.reuters.com time to read: +2 min

Demonstrators sit near the National Congress as the senate debates the government's agreement with the International Monetary Fund (IMF), in Buenos Aires, Argentina March 17, 2022. REUTERS/Agustin MarcarianBUENOS AIRES, Sept 19 (Reuters) - The International Monetary Fund (IMF) has reached a staff-level agreement on Argentina's $44 billion extended fund facility arrangement,which should unlock nearly $4 billion in funds for the country, the lender said on Monday. Argentina, a major grains producer, struck a new IMF deal earlier this year to replace a huge failed program from 2018. "A subsequent period of FX and bond market volatility has been arrested following decisive policy steps to correct earlier setbacks and rebuild credibility." On Argentina's reserves, which have proven hard to rebuild, the IMF said that they should still rise by some $9.8 billion in the 2022-23 period, in line with program targets.

☆ Argentina to raise public transport fares by 40% in Buenos Aires
▼ + stars: | 2022-07-21 | by ( ) www.reuters.com time to read: +1 min

BUENOS AIRES, July 21 (Reuters) - Argentina's government will raise public transportation fares by 40% in the Buenos Aires metropolitan area in August, ending a freeze that had been in place since 2019, according to a notice published in the country's official gazette on Thursday. The price hike, which followed a non-binding consultation, will not make up for the rise in the consumer price index, which just this year could exceed 80%, according to private estimates. Starting in August, the minimum bus ticket in Buenos Aires will cost 25.20 pesos ($0.19), up from the current 18 pesos ($ 0.14). Argentine President Alberto Fernandez's Peronist government is grappling with spiraling inflation and tensions within the ruling coalition. Reporting by Walter Bianchi, Edited by Maximilian Heath; Writing by Aida Pelaez-Fernandez; Editing by Paul SimaoOur Standards: The Thomson Reuters Trust Principles.

Persons: Alberto Fernandez's, Walter Bianchi, Maximilian Heath, Aida Pelaez, Fernandez, Paul Simao Organizations: Alberto Fernandez's Peronist, Thomson Locations: BUENOS AIRES, Buenos Aires, Argentine

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