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Stock Market Today: Dow Futures, Bond Yields Fall
  + stars: | 2023-06-23 | by ( ) www.wsj.com   time to read: +1 min
Bonds rallied , stocks were poised to slip and oil dropped on concern that global interest-rate hikes could push the world economy into recession. S&P 500 futures fell 0.5%. Dow industrials futures slipped 0.3% and Nasdaq-100 contracts ticked down 0.6%. Ten-year U.K. gilt yields slipped to 4.241% from 4.371%, a day after the Bank of England raised rates by half a percentage point. The cryptocurrency has rallied in recent days after BlackRock filed for a spot bitcoin exchange-traded fund.
Persons: Bonds, bunds, Germany’s Dax Organizations: Federal Reserve, Dow, Nasdaq, Bank of, Siemens Energy, Nikkei, Brent, BlackRock Locations: Bank of England, Europe, Asia, Shanghai, Saudi Arabia
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Organizations: CNBC PRO, Pfizer, Dow, Bank
U.S. stocks moved between small gains and losses around midday, with global central banks in focus. Federal Reserve chairman Jerome Powell is delivering a second day of testimony before Congress on Thursday. Doubts over how high the Fed will ultimately raise rates have helped lift stocks in the U.S. this year. The Dow industrials were in the red, while the Nasdaq Composite and S&P 500 ticked higher. Government bond yields were higher.
Persons: Jerome Powell, Powell, Stocks, Dow industrials, Bitcoin Organizations: Federal, Nasdaq, Amazon.com, Federal Trade Commission, Amazon Prime, Microsoft, Apple, Nvidia, Treasury, Bank of England's Locations: U.S, Government, Europe
U.S. stocks finished higher Thursday, lifted by gains across everything from shares of manufacturers to oil producers. The three main U.S. indexes were in the green, each rising more than 1% apiece, with the blue-chip Dow industrials up more than 400 points. The benchmark 10-year yield settled at 3.727%, from 3.796% late Wednesday, while the two-year yield was at 4.648%, from 4.707%. The market for IPOs has been slow lately, but shares of Mediterranean-style restaurant company Cava Group jumped on their first day of trading Thursday. Japan's currency fell against the dollar, trading at its weakest level since November, as traders cited concerns over Japan's ultra-loose monetary policy.
Persons: Dow, Estee Lauder, Kroger Organizations: Investors, Federal Reserve, Treasury, Analysts, Target, European Central Bank Locations: U.S, IPOs, Beijing, Europe
Stock futures and Treasury bonds rose ahead of the Federal Reserve’s monetary-policy decision, as investors weighed the latest inflation data and what this could mean for interest rates. The central bank is set to put out its decision and statement at 2 p.m. Most stock futures edged up. Treasury bonds recovered some ground. The most actively traded contract for Brent futures rose 1.5% to $75.40 a barrel, extending Tuesday’s jump.
Persons: Jerome Powell, Shorter, Hong, Hang Seng, DAX Organizations: Federal, Futures, Nasdaq, Dow, Treasury, Bank of England, Brent, Japan’s Nikkei Locations: Europe
S&P 500 futures were little changed Sunday night as traders looked ahead to the latest inflation data and the Federal Reserve policy meeting this week. S&P 500 futures added 0.14%. Dow Jones Industrial Average futures rose by 19 points, or 0.06%, while Nasdaq 100 futures advanced 0.27%. Investors are coming off a positive week for markets, with the S&P 500 posting its fourth straight week of gains, and brushing its highest point since August. Investors will also be watching for Tuesday's consumer price index, as well as monitoring the Federal Open Market Committee meeting.
Persons: Dow, there's, Tom Lee Organizations: Federal Reserve, Dow Jones Industrial, Nasdaq, Investors
U.S. stocks rose, with the S&P entering a new bull market , as shares of big technology and consumer-discretionary companies led Thursday's rally. Major indexes have powered higher over the past few months, in large part due to a handful of megacap technology companies posting outsized gains. Many of the S&P 500 stocks up the most this year rose further Thursday. The S&P 500 added 0.6%, just above the level it needed to close at to mark the start of a bull market. Hong Kong’s Hang Seng rose 0.3% and Japan’s Nikkei 225 retreated 0.9%.
Persons: Tesla Organizations: Nvidia, Bureau of Labor Statistics, Federal Reserve, Nasdaq, Dow, GameStop, Treasury, Nikkei Locations: Iran, Islamic Republic, Europe
Stock Market Today: Dow Futures Hover, Oil Prices Fall
  + stars: | 2023-06-06 | by ( ) www.wsj.com   time to read: +1 min
Stock futures are flitting between small gains and losses, while oil prices are slipping, unwinding gains that followed the OPEC+ meeting. A modest gain in regular trading would be enough to pull the S&P 500 out of its longest bear market since the 1940s. U.S. stock futures ebbed. Prices for bitcoin and other digital tokens had fallen Monday, after the SEC sued Binance, the world's largest crypto exchange. Hong Kong’s Hang Seng Index slipped 0.2% while the Shanghai Composite index fell 1.2%.
Persons: Dow, Brent, Binance Organizations: Dow industrials, Nasdaq, Organization of, Petroleum, SEC, Nikkei Locations: OPEC, Saudi Arabia, Europe, Shanghai
Stock Market Today: Dow Futures Edge Up After Last Week's Gains
  + stars: | 2023-06-05 | by ( ) www.wsj.com   time to read: +1 min
Stock futures are trading in a narrow range, pointing to a steady open on Wall Street after Friday’s big rally . In recent trading Monday:Stock futures were mixed. Dow industrials futures were also little changed, while Nasdaq-100 futures fell 0.2%. Oil prices rose. Saudi Arabia pledged to cut production to bolster a market that had faced pressure from worries about the economy.
Persons: Brent, Treasurys Organizations: Federal, Dow, Nasdaq Locations: Saudi Arabia, Europe, Hong Kong, Japan, China
Stock Market Today: Saudi Cuts Boost Oil; Dow Futures Edge Up
  + stars: | 2023-06-05 | by ( ) www.wsj.com   time to read: 1 min
Crude prices are gaining early Monday, after Saudi Arabia said it would cut oil production by 1 million barrels a day. Stock futures are broadly treading water, with contracts tied to the Dow industrials rising slightly, while S&P 500 and Nasdaq-100 futures are slipping. Friday's jobs report helped markets end last week strongly. Meanwhile, Treasury yields are rising, boosting the dollar.
Organizations: Dow, Nasdaq Locations: Saudi Arabia
"The overhangs on the market this year [are] the debt ceiling negotiation, hawkish Fed commentary and a banking crisis. It appears we are going to get a debt ceiling deal over the weekend, which should help the market to stabilize." The problem for many on the Street is the action in the S & P 500 Tech Index, up more than 5% this week; the Nasdaq Composite , ahead about 2.5%; and the S & P 500 , with a 0.3% gain, masks so much weakness beneath the surface. The S & P 500 consumer staples, materials, health care and utilities were all down between 2.4% and 3.2% this week, and the Dow Industrials were lower 1%. Although the S & P 500 is 9.5% higher so far in 2023, only a few stocks are doing well. "
Stock Market Today: Dow Futures Hover; Walmart Results Awaited
  + stars: | 2023-05-18 | by ( ) www.wsj.com   time to read: +1 min
Stock futures were little changed as investors awaited more clarity on the debt-ceiling negotiations, plus earnings from Walmart. President Biden said Wednesday that he was confident a default would be avoided , which boosted market sentiment. Futures tied to the S&P 500 and Dow industrials both edged up 0.1%, while Nasdaq-100 contracts gained 0.2%. Global stock markets climbed. Coming up: Walmart and Alibaba are both due to post results ahead of the U.S. open.
The Commerce Department reported retail sales rose 0.4% in April, short of the estimate for an increase of 0.8%. That slowing along with recent negotiations over the U.S. debt ceiling has focused attention on when the central bank will pause hiking, or cut interest rates. While the market is currently pricing in a rate cut by the end of the year, recent comments from Fed officials suggested they are not ready to cut rates soon. Cleveland Fed President Loretta Mester said she does not think the central bank can hold interest rates steady yet. (This story has been corrected to say 'a rate cut,' instead of 'a rate hike,' in paragraph 8)Reporting by Shreyashi Sanyal in Bengaluru; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.
Stock Market Today: Dow Futures Inch Higher
  + stars: | 2023-05-17 | by ( ) www.wsj.com   time to read: +1 min
Stock futures are ticking higher, suggesting major indexes could recover slightly after falling Tuesday on worries about a potential debt-ceiling default . Meanwhile, regional bank shares are jumping, on track to extend a recent stretch of high volatility. The 10-year U.S. Treasury yield fell to 3.536%, from 3.548% Tuesday. The two-year Treasury yield bucked the trend, rising to 4.099%, from 4.072%. The WSJ Dollar Index gained 0.3%, on pace to finish higher for the sixth session in the last eight trading days.
Regional-bank shares are jumping after Western Alliance—a lender investors have worried about—gave a positive update on deposit growth. Its shares gained, along with those of PacWest, Comerica and Zions. On the housing front: Housing starts for April rose 2.2% on a monthly basis, beating expectations for a decline. The WSJ Dollar Index gained 0.3%, on pace to finish higher for the sixth session in the last eight trading days. Indexes in China fell, while Japan’s Nikkei 225 gained 0.8% to top 30000 for the first time since 2021.
Home Depot (HD.N) shed 1.73%, the biggest drag on the Dow Industrials and among the heaviest weights on the S&P 500 after the home improvement retailer cut its annual sales forecast and projected a steeper-than-expected decline in profit. The Commerce Department reported retail sales rose 0.4% in April, short of the estimate for an increase of 0.8%. That slowing along with recent negotiations over the U.S. debt ceiling has focused attention on when the central bank will pause hiking, or cut interest rates. Cleveland Fed President Loretta Mester said she does not think the central bank can hold interest rates steady yet. The S&P 500 posted 10 new 52-week highs and 12 new lows; the Nasdaq Composite recorded 42 new highs and 163 new lows.
Stock Market Today: S&P 500 Wavers With Debt Ceiling in Focus
  + stars: | 2023-05-15 | by ( ) www.wsj.com   time to read: +1 min
U.S. stocks were wavering Monday as investors monitored debt-ceiling negotiations, coming off two consecutive losing weeks for the S&P 500. Treasury Secretary Janet Yellen said over the weekend that negotiations over raising the debt ceiling were making progress and could result in a deal. The major U.S. stock indexes were mixed. Turkey’s benchmark stock index fell after results from its election suggested President Recep Tayyip Erdogan had performed better than expected, but not enough to avoid a runoff vote. Other overseas stock indexes mostly gained.
CPI Report Today: Dow Futures Edge Down Ahead of Inflation Data
  + stars: | 2023-05-10 | by ( ) www.wsj.com   time to read: +1 min
Stock futures edged lower ahead of inflation data that will help determine whether the Federal Reserve keeps raising interest rates or pauses next month. ET, are expected to show annual consumer-price inflation stuck at 5% in April, while core inflation slowed slightly to 5.4% from 5.6%. S&P 500, Dow industrials and Nasdaq-100 futures were down 0.2% or more. Regional bank stocks slipped. Brent-crude futures fell 1.6% to $76.21 a barrel.
Stocks were mixed Monday afternoon after the Federal Reserve’s lending officer survey showed credit conditions tightened in the first quarter. The report kicked off a busy week with more corporate earnings and inflation data on tap. Regional bank stocks jumped at the open but lost much of that ground as trading progressed. The KBW Nasdaq Regional Banking index lost 1.8%. Oil prices rose, pointing to a recovery for Brent crude after finishing Friday with a third straight weekly loss.
Among the index's biggest losers were Disney , American Express , Goldman Sachs and Boeing . Here are the top 10 names with the largest upside to the average price target, according to data pulled from FactSet. American Express can rally 23.5%, while Goldman Sachs has 21% upside, according to analysts' average price targets. AXP YTD mountain American Express year to date Last month, American Express reported an earnings miss for the first quarter, but its revenue beat expectations, per Refinitiv. Goldman Sachs, however, missed on revenue thanks to a $470 million loss on the partial sale of its Marcus loans portfolio.
The S&P 500 was flat, and tech stocks pushed through rising bond yields. The Dow industrials were hurt in part as Disney shares fell. Meanwhile, Netflix shares fell after mixed results from the streaming service. Morgan Stanley shares fell as the investment bank posted a better-than-expected quarterly profit but dealmaking at the firm slowed. In the bond market, yields rose along with UK sovereign yields after British inflation unexpectedly held above 10% as food prices rose in March.
Friday's big story: Earnings season has kicked up a gear, with reports from big banks including JPMorgan, which posted record quarterly revenue. New data this morning also showed retail sales fell in March. Meanwhile, a Fed official said inflation is still high and that he's prepared to approve another interest-rate increase. Stock futures are wavering, with Dow industrials and S&P 500 futures not far off flat. Nasdaq-100 contracts are lower, as are gold prices, which hit their highest level of the year Thursday.
Next week's market action could be dictated by how well the latest quarterly reports from corporate America are received. Expectations about the immediate earnings outlook have been down for so long, the actual numbers themselves could look like up to investors. Earnings for all financials in the S & P 500 are actually expected to expand in the first quarter by 4.3%. ET: NAHB Housing Market Index (April) Earnings: Charles Schwab, M & T Bank, State Street, J.B. Hunt Transport Tuesday 8:30 a.m. ET: Philadelphia Fed President Patrick Harker speaks on the economic outlook Earnings: AT & T, American Express, D.R.
UnitedHealth has by far the biggest weighting in the Dow Jones Industrial Average . The 126-year-old blue-chip benchmark is price-weighted, meaning stocks with higher share prices are given the most weight. The health-care stock closed Wednesday at $520.97, while the stock with the second-highest impact on the 30-stock Dow, Goldman Sachs , stood at $327.37, nearly $200 less than UnitedHealth. While almost all other equity indexes are weighted by market capitalization, including the S & P 500 and the Nasdaq Composite , that doesn't mean UnitedHealth's power is diminished. The insurer is so large, with a $486 billion market cap, it ranks as the ninth-biggest company in the S & P 500.
Since the height of the financial crisis three weeks ago, the S & P 500 is up over 300 points, roughly 8%. Not surprisingly, the rest of the year is almost invariably a strong year. When the S & P 500 advances 7% or more in the first quarter, it's up an average 23% for the full year. April: spring shoots Best month for Dow Industrials: average 1.9%. advance Up 16 straight from 2006 to 2021 End of "best six months" strategy Source: Stock Trader's Almanac
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