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Although longer-dated U.S. Treasury yields eased from 16-year highs on Wednesday, investors remain concerned that the elevated levels may pressure equities. Worries about U.S. government spending and its ballooning budget deficit have added to uncertainty around the interest rates trajectory, contributing to a steep selloff that have caused a rout in Treasury prices and a spike in yields. The S&P 500 and the tech-heavy Nasdaq lost around 5% and 6% last month as yields spiked. Traders put the chance of interest rates remaining unchanged in November and December at 80% and 63%, respectively, according to CME's FedWatch tool. ET, Dow e-minis were down 92 points, or 0.28%, S&P 500 e-minis were down 10.5 points, or 0.24%, and Nasdaq 100 e-minis were down 27.75 points, or 0.19%.

Persons: Brendan McDermid, Janet Mui, Loretta Mester, Neel Kashkari, Richmond's Thomas Barkin, Mary Daly, Michael Barr, Kevin McCarthy, Steve Scalise, Jim Jordan, Joe Biden, VinFast, Ankika Biswas, Shashwat Chauhan, Shounak Dasgupta Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Treasury, RBC Brewin, Apple, Traders, Dow e, Federal, Democratic, Rivian, EV, Chevron, Exxon Mobil, Occidental Petroleum, Thomson Locations: New York City, U.S, Minneapolis, Bengaluru

FILE PHOTO:Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 28, 2023. Even as longer-dated Treasury yields eased from 16-year highs on Wednesday, investors remain concerned that the elevated levels may continue to pressure equities. The Labor Department's report showed the number of Americans filing new claims for unemployment benefits rose moderately last week, while layoffs declined in September, pointing to still-resilient labor market conditions. Following a mixed jobs reports earlier this week, focus will be on the more comprehensive September non-farm payrolls data on Friday. Declining issues outnumbered advancers for a 1.50-to-1 ratio on the NYSE and a 1.22-to-1 ratio on the Nasdaq.

Persons: Brendan McDermid, Charles, Henry Monchau, Neel Kashkari, Richmond's Thomas Barkin, Mary Daly, Michael Barr, Kevin McCarthy, Steve Scalise, Jim Jordan, Joe Biden, VinFast, Lamb, advancers, Ankika Biswas, Shashwat Chauhan, Shounak Dasgupta Organizations: New York Stock Exchange, REUTERS, Companies, Dow, Nasdaq, U.S, Treasury, Syz Group, Healthcare, Labor, Dow Jones, Traders, Federal, Democratic, Rivian, EV, Dell Technologies, Lamb Weston Holdings, NYSE, Thomson Locations: New York City, U.S, Minneapolis, Bengaluru

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 26, 2023. While the 30-year Treasury yield crossed above 5% for the first time since August 2007, the 10-year and five-year yields hit their highest since 2007. The CBOE volatility index (.VIX), Wall Street's "fear gauge", briefly hit a five-month high and topped its long-term average of 20. A day after U.S. job openings unexpectedly rose in August, investors will closely monitor September ADP National Employment data at 8:15 a.m. Reporting by Ankika Biswas and Shashwat Chauhan in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, Kevin McCarthy, Mark Haefele, Haefele, Austan Goolsbee, Michelle Bowman, Eli Lilly, LLY.N, Mike Mason, Ankika Biswas, Shashwat Chauhan, Shounak Dasgupta Organizations: New York Stock Exchange, REUTERS, Apple, U.S . House Republicans, Treasury, Microsoft, Nvidia, Dow e, Nasdaq, Federal, UBS Global Wealth, Institute, Supply, PMI, Chicago, Traders, Dow, Intel, Thomson Locations: New York City, U.S, Bengaluru

The ADP National Employment report showed private payrolls rose 89,000 in September, much lower than the expected 153,000. Focus now shifts to the more comprehensive non-farm payrolls data due on Friday. Separate data showed the U.S. services sector slowed in September as new orders fell to a nine-month low. Declining issues outnumbered advancers for a 1.02-to-1 ratio on the NYSE and a 1.10-to-1 ratio on the Nasdaq. The S&P index recorded no new 52-week high and 19 new lows, while the Nasdaq recorded 4 new highs and 162 new lows.

Persons: Brendan McDermid, Thomas Hayes, Kevin McCarthy, Helen of Troy, Rollins, advancers, Ankika Biswas, Shashwat Chauhan, Shounak Dasgupta Organizations: New York Stock Exchange, REUTERS, Companies, Nasdaq, Treasury, Microsoft, Nvidia, Great, Capital LLC, Dow, Traders, Wednesday, Dow Jones, U.S . House, Point Capital Management, NYSE, Thomson Locations: New York City, U.S, HELE.O, Point, Bengaluru

☆ 'Everything gets harder from here': Why top investors are down on the market, economy
▼ + stars: | 2023-10-03 | by ( Eric Rosenbaum | ) www.cnbc.com time to read: +6 min

Some of the market's biggest stock market investors echoed this view. Ackman said on Monday morning he didn't expect another rate hike. "If you just listen to their words, you know, you have to be pretty fearful there's going to be another rate hike. "Those numbers need to be supportive," Rieder had said of inflation data and jobs data including the JOLTS report in an interview with CNBC on the sidelines of DA. Ackman, even betting against another rate hike, has a view of inflation that sees it being persistently higher and placing more pressure on yields.

Persons: Bill Ackman, Katie Koch, reprice, Koch, Cash, Brad Gerstner, Gerstner, We've, Ackman, That's, they're, Jerome Powell, Volcker, Rick Rieder, You've, Rieder Organizations: Federal Reserve, Dow Jones, CNBC, Alpha, TCW, DA, Fed, Labor, BlackRock

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 28, 2023. A Labor Department report showed U.S. job openings unexpectedly increased in August, pointing to tight labor market conditions. Traders' bets on at least another 25-basis-point rate hike stood in November and December at 30% and 48%, respectively, according to CME's FedWatch tool. The CBOE volatility index (.VIX), known as Wall Street's "fear gauge", touched a more than four-month high, reflecting heightened investor anxiety. Declining issues outnumbered advancers for a 5.99-to-1 ratio on the NYSE and a 3.50-to-1 ratio on the Nasdaq.

Persons: Brendan McDermid, Loretta Mester, Raphael Bostic, Jason Pride, KeyBanc, McCormick, advancers, Ankika Biswas, Shashwat Chauhan, Vinay Dwivedi, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Microsoft, Dow, Nasdaq, Labor Department, Cleveland Fed, Atlanta, Traders, Apple, Reuters, Ofcom, Dow Jones, ADP, HP, BofA Global Research, Boeing, United Airlines, NYSE, Thomson Locations: New York City, U.S, Glenmede, Philadelphia, Bengaluru

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 28, 2023. Powell and Philadelphia Fed President Patrick Hasker will speak at a roundtable discussion, due 11 a.m. Later in the day, Cleveland Fed President Loretta Mester will speak on the outlook for the U.S. economy. Rivian Automotive (RIVN.O) advanced 2.9% after Evercore ISI raised the EV maker's stock to "outperform" from "in line". Reporting by Shubham Batra and Shashwat Chauhan in Bengaluru Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, Jerome Powell, Patrick Hasker, Loretta Mester, Russell Hackmann, Kevin McCarthy, bitcoin, Piper Sandler, Goldman Sachs, Shubham Batra, Shashwat Chauhan, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Federal, Philadelphia Fed, Cleveland Fed, Hackmann Wealth Partners, Democratic, Republican, Dow e, Nvidia, Rivian, ISI, EV, Thomson Locations: New York City, U.S, Powell, Singapore, Bengaluru

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 28, 2023. Other megacap stocks including Apple (AAPL.O), Meta Platforms (META.O), Amazon.com (AMZN.O), Alphabet (GOOGL.O) and Microsoft (MSFT.O) advanced between 0.9% and 1.9%. Eight of the eleven S&P sub sectors were down, with the utilities index (.SPLRCU), often considered as a bond proxy, declining 4.9%. Declining issues outnumbered advancers for a 4.02-to-1 ratio on the NYSE and for a 2.27-to-1 ratio on the Nasdaq. The S&P index recorded two new 52-week highs and 48 new lows, while the Nasdaq recorded 19 new highs and 211 new lows.

Persons: Brendan McDermid, Tesla, Goldman Sachs, Jerome Powell, Michelle Bowman, Loretta Mester, Stocks, Paul Ashworth, Kevin McCarthy, advancers, Shubham Batra, Shashwat Chauhan, Vinay Dwivedi, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Federal Reserve, Nvidia, Apple, Microsoft, Cleveland Fed, North, Capital Economics, Democratic, Republican, Dow Jones, NYSE, Thomson Locations: New York City, U.S, North America, Bengaluru

Reuters Graphics"There is a reckoning that interest rates are going to be higher for much longer, which has been the bearish element in the precious market. Gold prices could go below $1,800 in the near-term," said Jim Wyckoff, senior analyst at Kitco Metals. The appreciation of the U.S. dollar may not end anytime soon, pressuring the gold market." Traders are pricing in a 55% chance that the Federal Reserve will leave interest rates at the current range of 5.25%-5.50% this year, according to CME's FedWatch tool. Since powering above the key $2,000-per-ounce level in early May, gold prices have fallen more than 11%, or $230, pressured by a sharp rise in benchmark U.S. Treasury yields, which makes the non-yielding gold less attractive.

Persons: Silver, Fed's Bowman, Jim Wyckoff, Michelle Bowman, Tai Wong, Jerome Powell's, Ashitha, Nick Macfie, Christina Fincher Organizations: Reuters, Kitco Metals, U.S, U.S ., Federal Reserve, Treasury, Thomson Locations: New York, Bengaluru

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 26, 2023. Investors' focus will be on the final gross domestic product (GDP) estimate for the second quarter and weekly jobless claims data - due at 8:30 a.m. ET, as well as remarks by voting members Chicago Fed President Austan Goolsbee and Board Governor Lisa Cook during the day. The scope for interest rates staying higher for longer than anticipated has solidified with soaring energy prices keeping headline inflation elevated. Meme darling GameStop (GME.N) jumped 7.2% after the company named billionaire activist investor Ryan Cohen as its CEO and chairman.

Persons: Brendan McDermid, Ryan Cohen, Jerome Powell's, Powell, Austan Goolsbee, Lisa Cook, Russ Mould, AJ Bell, GameStop, Ankika Biswas, Shashwat Chauhan, Maju Samuel, Sriraj Organizations: New York Stock Exchange, REUTERS, Micron, GameStop, Dow, Nasdaq, Federal, Treasury, Apple, Microsoft, Investors, Chicago Fed, Dow e, Traders, Micron Technology, Thomson Locations: New York City, U.S, Riding

As the 10-year Treasury yields regained steam, megacap growth stocks including Apple (AAPL.O), Microsoft (MSFT.O), Amazon.com (AMZN.O) and Alphabet (GOOGL.O) shed between 0.4% and 2.2%. Technology (.SPLRCT) led declines amongst major S&P 500 sectors, down 0.7%, while healthcare (.SPXHC) added 0.5%. The S&P 500 and the Nasdaq are on course for their worst monthly performance of the year as Treasury yields hit multi-year highs on uncertainty around interest rates. Advancing issues outnumbered decliners by a 1.34-to-1 ratio on the NYSE and by a 1.26-to-1 ratio on the Nasdaq. The S&P index recorded two new 52-week highs and eight new lows, while the Nasdaq recorded 15 new highs and 88 new lows.

Persons: Brendan McDermid, megacaps, Jerome Powell's, Michael Pearce, Pearce, Powell, Lisa Cook, Austan Goolsbee, Ankika Biswas, Shashwat Chauhan, Sriraj Kalluvila, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Nasdaq, Treasury, Federal Reserve, Apple, Microsoft, Technology, Dow Jones, Oxford Economics, Chicago Fed, Traders, Micron Technology, Accenture, NYSE, Thomson Locations: New York City, U.S

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 26, 2023. A pullback in the 10-year Treasury yields provided some relief to megacap growth stocks including Apple (AAPL.O), Microsoft (MSFT.O), Tesla (TSLA.O) and Alphabet (GOOGL.O), up between 0.4% and 0.6%, in premarket trading. Amazon.com (AMZN.O) edged 0.2% higher after Tuesday's sell-off following the U.S. Federal Trade Commission's antitrust lawsuit against the online retailer. Costco (COST.O) dipped 2% even though the wholesale retailer reported better-than-expected fourth-quarter results, with analysts pinning the fall on broader market concerns. Reporting by Ankika Biswas, Shashwat Chauhan and Amruta Khandekar in Bengaluru; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, Peter Cardillo, Jerome Powell's, gridlock, Ankika Biswas, Shashwat Chauhan, Amruta, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Costco, Dow, Nasdaq, Federal, Apple, Microsoft, U.S . Federal Trade, Dow e, Spartan Capital Securities, U.S . Senate, Republican, Rivian Automotive, Thomson Locations: New York City, U.S, New York, Bengaluru

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 26, 2023. Megacap growth stocks including Apple (AAPL.O), Microsoft (MSFT.O), Meta Platforms (META.O) and Tesla (TSLA.O) lost between 0.5% and 1.3% in premarket trading. Pressuring equities, the benchmark two- and 10-year Treasury yields have scaled multi-year highs after the Fed's hawkish longer-term rate outlook, a stance also projected by other major central banks. Meanwhile, a 25-basis-point rate cut is being priced in as early as March, growing to over 33% in June and July. DraftKings (DKNG.O) rose 3% after J.P. Morgan upgraded the online sports and gaming company's stock to "overweight" from "neutral".

Persons: Brendan McDermid, Moody's, Stuart Cole, Jerome Powell, Neel Kashkari, Austan Goolsbee, Goldman Sachs, Morgan, Ankika Biswas, Shashwat Chauhan, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Federal Reserve, Sunday, Apple, Microsoft, Dow e, Treasury, Equiti, Traders, Investors, Minneapolis, Chicago Fed, CNBC, PDD Holdings, Thomson Locations: New York City, U.S, China, Bengaluru

Earlier in the day, the S&P 500 (.SPX) and the Nasdaq (.IXIC) had dropped to their lowest level since June, while the Dow (.DJI) stooped to an over two-month low. While energy (.SPNY) jumped over 1% to lead gains among major S&P 500 sectors, utilities (.SPLRCU) and real estate (.SPLRCR) were the worst hit. "Because of worries over rising oil prices, rising dollar, rising interest rates, we could see some additional weakness in this traditionally soft seasonal period." Declining issues outnumbered advancers for a 1.20-to-1 ratio on the NYSE and a 1.07-to-1 ratio on the Nasdaq. The S&P index recorded one new 52-week high and 41 new lows, while the Nasdaq recorded 24 new highs and 297 new lows.

Persons: Brendan McDermid, stooped, Jerome Powell, Sam Stovall, Austan Goolsbee, Jefferies, JD.com, advancers, Ankika Biswas, Shashwat Chauhan, Arun Koyyur, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Nike, Nasdaq, Federal Reserve, Apple, Nvidia, Dow, CFRA, Dow Jones, Chicago Fed, CNBC, PDD Holdings, Baidu, NYSE, Thomson Locations: New York City, U.S, Bengaluru

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 11, 2023. Uncertainty around the trajectory for interest rates, including a potential hike by year-end and expectations for fewer cuts next year, have pushed the 10-year Treasury yield to a 16-year high, hurting growth stocks. ET, Dow e-minis were down 13 points, or 0.04%, S&P 500 e-minis were down 1.75 points, or 0.04%, and Nasdaq 100 e-minis were down 11 points, or 0.07%. HP Inc (HPQ.N) dipped 2.7% after Warren Buffett's Berkshire Hathaway (BRKa.N) sold nearly 4.8 million shares of the PC maker. Reporting by Ankika Biswas and Shashwat Chauhan in Bengaluru; Editing by Arun Koyyur and Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, Berkshire Hathaway, Jerome Powell, dampening, Raffi Boyadjian, Walt Disney, Warren Buffett's Berkshire Hathaway, Jefferies, JD.com, Ankika Biswas, Shashwat Chauhan, Arun Koyyur, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Companies Media, Nike, Dow, Nasdaq, Federal Reserve, Nvidia, Investors, Traders, XM, Dow e, Media, Warner Bros Discovery, Paramount Global, Netflix, HP Inc, PDD Holdings, Baidu, Thomson Locations: New York City, U.S, Berkshire, Bengaluru

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 11, 2023. The indexes also eyed their first quarterly declines so far this year heading into the last days of September. Consumer staples (.SPLRCS) and utilities (.SPLRCU) were the worst hit among the major S&P 500 sector indexes, while energy (.SPNY) was the top gainer. Meanwhile, Chicago Fed president Austan Goolsbee in an interview on CNBC stressed on the need to brining inflation back to the 2% target, after some Fed policymakers last week warned of further hikes. The S&P index recorded no new 52-week highs and 37 new lows, while the Nasdaq recorded 16 new highs and 225 new lows.

Persons: Brendan McDermid, Jerome Powell, Thomas Martin, Austan Goolsbee, Walt Disney, Jefferies, JD.com, advancers, Ankika Biswas, Shashwat Chauhan, Arun Koyyur, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Companies Media, Nike, Dow, Nasdaq, Major U.S, Federal Reserve, Microsoft, GLOBALT Investments, Traders, Dow Jones, Chicago Fed, CNBC, Media, Netflix, PDD Holdings, Baidu, NYSE, Thomson Locations: New York City, U.S, Major, Bengaluru

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 15, 2023. "The prospect of rates staying higher for longer has given investors a lingering headache," said Russ Mould, investment director at AJ Bell. "Many had hoped we would approach the end of 2023 with a clearer picture on when rates will start to be cut." ET, Dow e-minis were up 36 points, or 0.1%, S&P 500 e-minis were up 11 points, or 0.25%, and Nasdaq 100 e-minis were up 68.5 points, or 0.46%. Wayfair (W.N) rose 2.6% after Bernstein upgraded the online furniture retailer to "market perform" from "underperform", citing improving revenue growth and margins.

Persons: Brendan McDermid, dampening, Russ Mould, AJ Bell, Neel Kashkari, Lisa Cook, Li Auto, Alibaba, Bernstein, Ankika Biswas, Shristi, Anil D'Silva, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Activision, Microsoft, Dow, Nasdaq, U.S, Treasury, Apple, Nvidia, P Global, PMI, Minneapolis, Detroit, Dow e, PDD Holdings, Baidu, Hong, Thomson Locations: New York City, U.S, Hong Kong, Bengaluru

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 15, 2023. Ford Motor (F.N) advanced 2.5% after Reuters reported the United Auto Workers (UAW) was set to announce progress in labor contract talks with the carmaker. Several Fed policymakers, including policy voting member Minneapolis President Neel Kashkari, are set to speak during the day. Advancing issues outnumbered decliners by a 2.11-to-1 ratio on the NYSE and by a 1.44-to-1 ratio on the Nasdaq. The S&P index recorded one new 52-week high and 26 new lows, while the Nasdaq recorded 14 new highs and 102 new lows.

Persons: Brendan McDermid, dampening, Jason Pride, Neel Kashkari, Li Auto, Alibaba, Bernstein, Wells, Ankika Biswas, Shristi, Anil D'Silva, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Activision, Microsoft, Ford, Reuters, UAW, Dow, Nasdaq, United Auto Workers, U.S, Treasury, Apple, Nvidia, Minneapolis, Dow Jones, PDD Holdings, Baidu, Hong, Charter Communications, NYSE, Thomson Locations: New York City, U.S, Glenmede, Philadelphia, Hong Kong, Bengaluru

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 15, 2023. "While the dot plots suggest upside risks to interest rates, we retain our expectations that the hike cycle is likely done and for the Fed not to raise rates again," Mark Haefele Chief Investment Officer, UBS Global Wealth Management, said in a note. Meanwhile, weak performance of recent listings after their debut highs has dampened hopes of a likely revival in the initial public offering market amid high interest rates and broader market declines. Arm Holdings also fell 3.0% to $51.3 premarket, nearing its IPO price of $51 per share while Instacart (CART.O) lost 1.4%. ET, Dow e-minis were down 188 points, or 0.54%, S&P 500 e-minis were down 34.75 points, or 0.78%, and Nasdaq 100 e-minis were down 160.75 points, or 1.06%.

Persons: Brendan McDermid, Mark, Ankika Biswas, Shristi, Arun Koyyur, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, FedEx, Broadcom, Google, Dow, Nasdaq, Federal Reserve, Apple, Nvidia, Wall, UBS Global Wealth Management, Arm Holdings, Dow e, Marvell Technology, Marvell, Warner Bros Discovery, Paramount Global, Writers Guild of America, WGA, Thomson Locations: New York City, U.S, Bengaluru

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 15, 2023. Rate-sensitive stocks including Tesla (TSLA.O), Meta Platforms (META.O), Amazon.com (AMZN.O), Alphabet (GOOGL.O), and Nvidia (NVDA.O) fell between 1.5% and 3.0% as the two-year and 10-year Treasury yields , scaled multi-year highs. The benchmark interest rate could be hiked one more time in 2023 to a peak range of 5.50%-5.75%, while monetary policy could stay tighter than was expected through 2024, the Fed's updated quarterly projections showed. Declining issues outnumbered advancers by a 7.06-to-1 ratio on the NYSE and by a 3.86-to-1 ratio on the Nasdaq. The S&P index recorded two new 52-week highs and 16 new lows, while the Nasdaq recorded seven new highs and 207 new lows.

Persons: Brendan McDermid, Sam Stovall, Stovall, Rupert Murdoch, Ankika Biswas, Shristi, Arun Koyyur, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, FedEx, Broadcom, Google, Dow, Nasdaq, Federal Reserve, Nvidia, Semiconductor, Marvell Technology, SOX, Wall, Research, Arm Holdings, Dow Jones, Fox Corp, News Corp, NYSE, Thomson Locations: New York City, U.S, Philadelphia, New York, Bengaluru

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 11, 2023. ET, with investors focused on Fed economic projections and Chair Jerome Powell's comments for clues on the outlook for rates and inflation. Reinforcing the likelihood of a Fed pause, U.S. Treasury yields retreated from their 2007 highs hit in the previous session. Investors are now looking forward to marketing automation company Klaviyo's (KVYO.N) debut on the New York Stock Exchange, with the stock last indicated to open between $36 and $38. The S&P index recorded 10 new 52-week highs and four new lows, while the Nasdaq recorded 33 new highs and 140 new lows.

Persons: Brendan McDermid, Jerome Powell's, Mark Luschini, Janney Montgomery Scott, Ankika Biswas, Shristi, Arun Koyyur, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Coty, Citigroup, Dow, Nasdaq, Treasury, Microsoft, Apple, Arm Holdings, Investors, Dow Jones, NYSE, Thomson Locations: New York City, U.S, Boston, Bengaluru

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 11, 2023. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsSummaryCompanies Coty gains on raising sales forecastFederal Reserve rate verdict due at 2 p.m. The U.S. central bank is expected to maintain its key rate in the range of 5.25%-5.50% as it concludes its meeting at 2 p.m. ET, with investors focused on economic projections and Chair Jerome Powell's comments for clues on the outlook for rates and inflation. Investors were also looking forward to the debut by marketing automation company Klaviyo on the New York Stock Exchange against the backdrop of some recent successful U.S. listings.

Persons: Brendan McDermid, Jerome Powell's, Gabriele Foà, Foà, Klaviyo, Morgan, Ankika Biswas, Shristi, Arun Koyyur Organizations: New York Stock Exchange, REUTERS, Companies Coty, Citigroup, Dow, Nasdaq, Algebris Investments, Financial, Arm Holdings, Dow e, Coty, Thomson Locations: New York City, U.S, Bengaluru

☆ U.S. stocks close lower as investors take cover ahead of Fed decision
▼ + stars: | 2023-09-19 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

All three indexes ended the session lower in a broad sell-off ahead of the Fed's interest rate announcement on Wednesday, which is expected to culminate in a decision to leave key interest rates unchanged. The Fed is also due to release its Summary Economic Projections, including its dot plot, which should provide a glimpse into the Federal Open Markets Committee's forecast trajectory of interest rates, inflation and economic growth. On the economic front, a jump in Canada's annual inflation rate due to rising gasoline prices, and a bigger-than-expected plunge in U.S. housing starts helped feed investor uncertainty. Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 29, 2023. Starbucks (SBUX.O) lost ground following TD Cowen's decision to downgrade the coffee chain's shares to "underperform."

Persons: Bill Northey, Helena Montana, Northey, Michael Green, Brendan McDermid, Walt Disney, Stephen Culp, Ankika Biswas, Shristi, Aurora Ellis Organizations: Disney, Dow, Nasdaq, U.S . Federal Reserve, Federal Reserve, U.S, Bank Wealth Management, Federal, Management, Fed, Maplebear Inc, chipmaker, Holdings, New York Stock Exchange, REUTERS, Arm Holdings, Dow Jones, Starbucks, General Motors, Ford Motor, United Auto Workers, NYSE, Thomson Locations: Helena, Philadelphia, New York City, U.S, Bengaluru

☆ Wall Street moves sideways as investors look to Fed
▼ + stars: | 2023-09-18 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 11, 2023. Financial markets have currently baked in a 99% certainty that the Fed will hold the key rate at 5.25%-5.00% on Wednesday. British chipmaker Arm Holdings slid 4.5% after Bernstein initiated coverage with an "underperform" rating just days after its stellar debut. Declining issues outnumbered advancing ones on the NYSE by a 1.22-to-1 ratio; on Nasdaq, a 1.74-to-1 ratio favored decliners. The S&P 500 posted 6 new 52-week highs and 11 new lows; the Nasdaq Composite recorded 37 new highs and 247 new lows.

Persons: Brendan McDermid, Bernstein, Jerome, Powell, Peter Tuz, Janet Yellen, Sam Stovall, Stovall, Piper, Stephen Culp, Ankika Biswas, Shristi, Aurora Ellis Organizations: New York Stock Exchange, REUTERS, Holdings, Dow, Nasdaq, U.S, U.S . Federal, Chase Investment, Markets, CFRA Research, Dow Jones, Energy, Tesla Inc, Corp, Arm Holdings, Paypal Holdings, NYSE, Thomson Locations: New York City, U.S, U.S ., Charlottesville , Virginia, New York, Bengaluru

☆ Treasury yields rise as investor attention turns to upcoming Fed meeting
▼ + stars: | 2023-09-18 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

ET, the yield on the 10-year Treasury was up by 2.5 basis points to 4.347%. The 2-year Treasury yield was last trading more than 2 basis points higher at 5.056%. Markets are pricing in a 99% chance that the Fed will keep rates unchanged this week, according to CME's FedWatch tool, which gauges pricing in fed funds futures. The figures were followed by the University of Michigan's consumer sentiment report on Friday, which reflected a significant decline of inflation expectations. Before the Fed's rate decision on Wednesday, several reports from the housing sector are due, including September's Housing Market Index data on Monday, as well as building permit and housing starts data on Tuesday.

Organizations: Treasury, U.S, Federal Reserve, PPI, University of

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