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☆ Sterling hits six-week high as Sunak mulls delay to Oct. 31 budget plan
▼ + stars: | 2022-10-26 | by ( Lucy Raitano | ) www.reuters.com time to read: +3 min

LONDON, Oct 26 (Reuters) - Sterling soared to six-week highs on Wednesday, as Britain's new Prime Minister Rishi Sunak holds his first cabinet meeting amid reports he could delay the announcement of a plan to repair the country's public finances. Sunak took power on Tuesday with a promise to fix the mistakes of his predecessor and stabilise the economy, warning Britain faced a "profound economic crisis". Foreign minister James Cleverly said on Wednesday the government's fiscal plan, scheduled for Oct. 31 and hotly anticipated by markets, could be delayed, suggesting a little more time might be needed to spell out the details. The pound was last up 1.16% against the dollar at $1.1601, and was 0.41% higher versus the euro at 86.500 pence per euro. "Things are certainly starting to look a lot more constructive for the pound," said Michael Brown, head of market intelligence at Caxton.

Earnings from the companies will offer a glimpse into how corporate America is holding up in the face of decades-high inflation and tighter financial conditions. "There is a positive view (on technology earnings)," said Giuseppe Sette, president of AI investment platform Toggle. FEDWATCHToggle's Sette noted that it is not yet a done deal that investors are shifting towards a more dovish Fed. Advancing issues outnumbered decliners by a 5.16-to-1 ratio on the NYSE and by a 4.03-to-1 ratio on the Nasdaq. The S&P index recorded 10 new 52-week highs and one new low, while the Nasdaq recorded 41 new highs and 76 new lows.

Earnings reports from companies including Microsoft (MSFT.O) and Google-owner Alphabet (GOOGL.O) will offer further clues on the strength of corporate America amid higher Treasury yields and an aggressive Federal Reserve tightening cycle. Shares of the two companies, which report after market close, were up about 0.2% each in premarket trading. Register now for FREE unlimited access to Reuters.com Register"There is a positive view (on technology earnings)," said Giuseppe Sette, president of AI investment platform Toggle. Leading premarket gains among Dow components, Coca-Cola Co (KO.N) rose 2.4% after the company raised its annual revenue and profit forecasts, banking on steady demand amid price increases. 3M (MMM.N), on the other hand, fell 2.8% as it cut its full-year revenue and profit forecasts due to a stronger dollar.

☆ U.S. yields climb as hawkish Fed concerns outweigh weaker economic data
▼ + stars: | 2022-10-24 | by ( Davide Barbuscia | ) www.reuters.com time to read: +3 min

Speculation about a potentially more dovish Fed - despite U.S. inflation remaining hot - was visible in money markets. But they climbed back again, with the benchmark 10-year Treasury yields up at 4.229% and two-year note yields at 4.498%. On the long end, 30-year Treasury yields rose to an 11-year high of 4.359%. "If the Fed is going to be data dependent, these data points should be a focus point for them. Whether or not that actually happens, is yet to be seen," said Matthew Miskin, co-chief investment strategist at John Hancock Investment Management.

☆ The conditions needed for a stock market bottom are forming as investors get overly bearish, JPMorgan says
▼ + stars: | 2022-09-26 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Conditions are forming that suggest a stock market bottom could be near, JPMorgan's Marko Kolanovic said. To Kolanovic's point, investors are growing increasingly bearish on the stock market. AAII's most recent investor sentiment survey showed just 17.7% of its respondents were bullish on the direction of stock prices over the next six months. But overly bearish sentiment readings rarely (if ever) serve as a catalyst that will launch stock prices higher. That would help drive another tactical bounce in growth stocks, according to the note, and could ultimately end the significant drop in the stock market.

☆ Undecided? Here are 3 questions we ask ourselves before selling a troubled stock
▼ + stars: | 2022-08-25 | by ( Paulina Likos | ) www.cnbc.com time to read: +10 min

When managing our own portfolio, these are three questions that we ask ourselves that could also be beneficial to Club members. This was a nastier separation than expected, making it unclear how it could impact PayPal's growth rate. (PayPal's stock price has fallen about 50% year to date.) This created liquidity, much of which made its way into the stock market. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

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