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The tech-heavy Nasdaq (.IXIC) recovered after a weak open, boosted by 4% gains in Tesla Inc (TSLA.O) and Nvidia Corp (NVDA.O). Ten of the 11 major S&P sectors rose, with consumer discretionary (.SPLRCD) and technology (.SPLRCT) leading the gains. "I don't think (this report) moves the needle for the Fed, and I suspect they're taking a hard look at the data. The rally, however, stalled last week on signs of a tight labor market and hawkish commentary from Fed policymakers. Money market traders have priced in at least two more 25 basis point rate hikes this year and see interest rates peaking at 5.2% by July.

Futures were volatile after the Labor Department report showed consumer prices climbed 0.5% in January following a 0.1% rise in December. That was the smallest gain since October 2021 but slightly above market forecast of a 6.2% rise. "I don't think (this report) moves the needle for the Fed, and I suspect they're taking a hard look at the data. Money market traders have priced in at least two more 25 basis point rate hikes this year and see interest rates peaking at 5.2% by July. Coca-Cola Co (KO.N) slipped 0.4% despite a strong full-year profit forecast from the soda maker.

Wall Street's major indexes had lost ground immediately after the Fed announced its rate hike decision. After the press conference, money markets were betting on a terminal rate of 4.892% in June compared with bets for 4.92% just before the Fed's statement. U.S. futures were still pricing in rate cuts this year with the fed funds rate seen at 4.403% by the end of December, the same as before the meeting. The S&P 500 posted 24 new 52-week highs and no new lows; the Nasdaq Composite recorded 136 new highs and 23 new lows. About 13.7 billion shares changed hands in U.S. exchanges, compared with the 11.5 billion daily average over the last 20 sessions.

☆ Morning Bid: Riding the Fed dragon
▼ + stars: | 2023-02-01 | by ( Stephen Culp | ) www.reuters.com time to read: +3 min

Feb 2 (Reuters) - A look at the day ahead in markets from Stephen Culp, New York stock market reporter. "The door is cracking open to end rate hikes, but they still have a chance for one more rate hike at the next meeting," said Ryan Detrick, chief market strategist at Carson Group in Omaha. "Inflation data continues to show major improvements, which is exactly what the Fed needs to take their foot off the pedal." The European Central Bank and the Bank of England are expected to hike their key interest rates by 50 basis points on Thursday. Fourth-quarter earnings season is running on all cylinders, with 190 of the companies in the S&P 500 having reported already.

☆ Morning Bid: Fed games
▼ + stars: | 2023-01-31 | by ( Stephen Culp | ) www.reuters.com time to read: +2 min

Feb 1 (Reuters) - A look at the day ahead in markets from Stephen Culp, New York stock market reporter. Asian stocks are primed for a green Wednesday on the heels of a broad rally on Wall Street, as a slew of economic data suggested the Federal Reserve's restrictive monetary policy is working as directed. Risk appetite was largely fueled by economic data, specifically the Employment Cost Index (ECI) which decelerated in the fourth quarter to its slowest growth in a year - yet another sign that decades-high inflation is beginning to cool. This is welcome news for the Fed, which is expected to punctuate its two-day monetary policy meeting on Wednesday with a 25 basis point hike to the Fed funds target rate, its latest salvo in its battle against inflation. On Wednesday, market participants will digest factory and labor market data and parse the Fed's statement and Chairman Jerome Powell's remarks at the subsequent press conference.

☆ Fasten your seatbelts
▼ + stars: | 2023-01-30 | by ( Stephen Culp | ) www.reuters.com time to read: +2 min

Jan 31 (Reuters) - A look at the day ahead in markets from Stephen Culp, New York stock market reporter. Wall Street's downbeat start to an action-packed week has set a bumpy course for Asian markets on Tuesday. The Bank of England and the European Central Bank are poised to follow the Fed by hiking crucial interest rates by a more aggressive 50 basis points. Meta Platforms Inc (META.O) waits in the wings on Wednesday, with Apple Inc (AAPL.O), Amazon.com (AMZN.O) and Alphabet Inc (GOOGL.O) on deck for Thursday. Those policies have since been relaxed, sparking hopes of demand revival in China, which could take some of the sting of restrictive central bank policy.

☆ Morning Bid: Fasten your seatbelts
▼ + stars: | 2023-01-30 | by ( Stephen Culp | ) www.reuters.com time to read: +2 min

☆ Wall Street closes green as GDP data eases recession worries
▼ + stars: | 2023-01-26 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

[1/2] People stand by the New York Stock Exchange (NYSE) in New York City, U.S., January 26, 2023. Fourth-quarter earnings season has hit full stride, with more than one fourth of the companies in the S&P 500 having reported. Analysts now see aggregate fourth quarter earnings falling 2.7%, worse than the 1.6% year-on-year decline seen on Jan. 1, but an improvement over the 3% annual decline as of Wednesday, per Refinitiv. Of the 11 major sectors of the S&P 500, all but consumer staples (.SPLRCS) advanced. The S&P 500 posted 23 new 52-week highs and no new lows; the Nasdaq Composite recorded 111 new highs and 32 new lows.

☆ Wall Street gains as solid GDP data offsets signs of economic weakness
▼ + stars: | 2023-01-26 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

[1/2] People stand by the New York Stock Exchange (NYSE) in New York City, U.S., January 26, 2023. Fourth-quarter earnings season has hit full stride, with more than one fourth of the companies in the S&P 500 having reported. Analysts now see aggregate fourth quarter earnings falling 2.7%, worse than the 1.6% year-on-year decline seen on Jan. 1, but an improvement over the 3% annual decline as of Wednesday, per Refinitiv. Among the 11 major sectors of the S&P 500, energy (.SPNY) led the percentage gainers, boosted by rising crude prices due to signs of increasing demand from China. Tesla Inc (TSLA.O) provided the most upside muscle to the S&P 500 and the Nasdaq, its shares jumping 9.4% in the wake of its earnings report.

☆ S&P 500 closes slightly red as weak corporate guidance fuels recession fears
▼ + stars: | 2023-01-25 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

Fourth-quarter earnings season has shifted into overdrive, with 95 of the companies in the S&P 500 having reported. Analysts now see aggregate S&P 500 earnings dropping 3.0% year-on-year, nearly double the 1.6% drop seen on Jan. 1, per Refinitiv. Five of the 11 major sectors of the S&P 500 ended lower, with utilities (.SPLRCU) suffering the largest percentage loss. General Dynamics Corp (GD.N) beat quarterly expectations, but a weak 2023 forecast helped send the defense contractor's shares sliding 3.6%. The S&P 500 posted 8 new 52-week highs and 1 new lows; the Nasdaq Composite recorded 61 new highs and 30 new lows.

☆ Wall Street dips as weak corporate guidance fuels recession fears
▼ + stars: | 2023-01-25 | by ( Stephen Culp | ) www.reuters.com time to read: +3 min

Fourth-quarter earnings season has shifted into overdrive, with 95 of the companies in the S&P 500 having reported. Analysts now see aggregate S&P 500 earnings dropping 3.0% year-on-year, nearly double the 1.6% drop seen on Jan. 1, per Refinitiv. Most of the 11 sectors of the S&P 500 were red, utilities (.SPLRCU) suffering the largest percentage loss. General Dynamics Corp (GD.N) beat quarterly expectations, but a weak 2023 forecast helped send the defense contractor's shares sliding 3.2%. The S&P 500 posted 6 new 52-week highs and 1 new lows; the Nasdaq Composite recorded 52 new highs and 26 new lows.

☆ S&P 500 ends slightly down after mixed earnings, opening glitch
▼ + stars: | 2023-01-24 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

The Nasdaq joined the S&P 500 in negative territory, while the Dow ended modestly higher. Fourth quarter earnings season is in full swing, with 72 of the companies in the S&P 500 having reported. On aggregate, analysts now expect S&P 500 earnings 2.9% below the year-ago quarter, down from the 1.6% year-on-year decline seen on Jan. 1, per Refinitiv. Among the 11 major sectors of the S&P 500, industrials suffered the biggest loss. The S&P 500 posted 26 new 52-week highs and 10 new lows; the Nasdaq Composite recorded 77 new highs and 22 new lows.

☆ Wall Street totters after mixed earnings, trade halt glitch
▼ + stars: | 2023-01-24 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

More than 80 stocks were affected by the glitch, which caused wide swings in opening prices in stocks, including Walmart Inc (WMT.N) and Nike Inc (NKE.N). Fourth quarter earnings season is in full swing, with 72 of the companies in the S&P 500 having reported. On aggregate, analysts now expect S&P 500 earnings 2.9% below the year-ago quarter, down from the 1.6% year-on-year decline seen on Jan. 1, per Refinitiv. Among the 11 major sectors of the S&P 500, industrials was down the most. The S&P 500 posted 27 new 52-week highs and 10 new lows; the Nasdaq Composite recorded 69 new highs and 21 new lows.

CHICAGO, Jan 24 (Reuters) - General Electric Co (GE.N) on Tuesday reported better-than-expected quarterly earnings on robust demand for its jet engines and power equipment, but offered a disappointing profit forecast for this year as it struggles with persistent problems at its renewable energy business. It, however, forecast an operating loss between $200 million and $600 million for its energy business GE Vernova in 2023. The company's renewable energy business has been facing challenges due to inflation and supply chain pressures. Culp said high inflation is also posing a challenge for offshore wind business as it is making customers review economics of their projects. He expects inflation to be a "test" for the company even as it adjusts its prices to offset higher costs.

☆ GE's 2023 profit forecast weighed down by renewable business
▼ + stars: | 2023-01-24 | by ( ) www.reuters.com time to read: +1 min

Jan 24 (Reuters) - General Electric Co (GE.N) forecast a lower-than-expected 2023 adjusted profit on Tuesday, as the industrial major struggles with persistent problems at its money-losing renewable energy business. Shares in GE were down 2% at $78.29 in premarket trade after the company forecast an operating loss between $200 million and $600 million for its energy business GE Vernova in 2023. The company's renewable energy business has been facing challenges due to inflation and supply chain pressures. GE Aerospace's operating profit is expected to come in between $5.3 billion and $5.7 billion for 2023. GE's adjusted profit for the fourth quarter was $1.24 per share, beating analysts' average estimate of $1.13 per share.

☆ Watch CNBC's full interview with Larry Culp on fourth-quarter earnings
▼ + stars: | 2023-01-24 | 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 Larry Culp on fourth-quarter earningsLarry Culp, GE Chairman and CEO, joins 'Squawk on the Street' to break down the company's Q4 2022 results that beat on earnings and revenue. Larry also discusses GE's outlook on aerospace and energy.

☆ Wall Street extends rally, powered by tech bounce
▼ + stars: | 2023-01-23 | by ( Stephen Culp | ) www.reuters.com time to read: +5 min

All three major stock indexes extended Friday's gains, with the tech-heavy Nasdaq leading the pack, boosted by semiconductor shares (.SOX). Of the 11 major S&P 500 sectors, all but energy (.SPNY) ended green, with tech shares (.SPLRCT) enjoying the largest percentage gain, up 2.3% on the session. The fourth-quarter reporting season has shifted into overdrive, with 57 of the companies in the S&P 500 having posted results. Analysts now see S&P 500 fourth-quarter earnings, on aggregate, dropping 3% year-on-year, nearly twice as steep as the 1.6% annual drop seen at the beginning of the year, per Refinitiv. The S&P 500 posted 11 new 52-week highs and no new lows; the Nasdaq Composite recorded 82 new highs and 19 new lows.

☆ Wall Street surges, powered by tech rebound
▼ + stars: | 2023-01-23 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

"No one wants to be watching from the sideline with a bunch a cash as the market gets away from them." All 11 major sectors in the S&P 500 were higher, with tech (.SPLRCT) up the most, jumping 2.8%. Fourth-quarter reporting season has shifted into overdrive, with 57 of the companies in the S&P 500 having posted results. Of those, 63% have delivered better than expected earnings, according to Refinitiv. The S&P 500 posted 11 new 52-week highs and no new lows; the Nasdaq Composite recorded 66 new highs and 14 new lows.

☆ Morning Bid: Knocking on CPI's door
▼ + stars: | 2023-01-09 | by ( Stephen Culp | ) www.reuters.com time to read: +3 min

Jan 10 (Reuters) - A look at the day ahead in Asian markets from Stephen Culp. Economists at many big banks are revising up their GDP growth forecasts for the second half of this year. Further signs of cooling inflation could raise the possibility of a pause in monetary policy. On Monday, Atlanta Fed President Raphael Bostic provided assurances that it will be "appropriate and important" for the Fed to exercise caution as it calibrates its war on inflation. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Bed, Bath & Beyond rebounds in meme-stock rally
▼ + stars: | 2023-01-09 | by ( Stephen Culp | ) www.reuters.com time to read: +2 min

NEW YORK, Jan 9 (Reuters) - Shares of Bed, Bath & Beyond Inc (BBBY.O) rebounded sharply in high volume trading on Monday amid speculation by retail investors that the struggling home goods seller might be a potential acquisition target. As of mid-day, traders had exchanged $114 million worth of the Bed, Bath & Beyond's shares, nearly matching the company's entire stock market value of $157 million, according to Refinitiv data. Bed Bath & Beyond has struggled for years with shrinking sales as it competes against Amazon (AMZN.O) and other rivals, with investors pointing to problems including cluttered stores and an over-reliance on discount coupons. In a filing last week, Bed Bath & Beyond said it expected to show a net loss of $385.8 million for its fiscal quarter ending in November, including $100 million of impairment charges. Of the 13 analysts covering the company, three recommend "hold," eight rate the stock "sell," and two have "strong sell" recommendations.

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☆ Wall Street surges in dip-buying rally, oil falls
▼ + stars: | 2022-12-29 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

European shares also advanced, but gains were held in check by worries over spiking COVID cases in China, the world's second largest economy. "It's nice to see green on the screen," said Terry Sandven, Chief Equity Strategist at U.S. Bank Wealth Management in Minneapolis. "Stocks are trending higher as investors look to put a wrap on 2022, while approaching 2023 with a renewed sense of optimism." Wall Street's three major stock indexes notching their steepest annual percentage losses since 2008, the nadir of the global financial crisis. [1/3] The Wall Street entrance to the New York Stock Exchange (NYSE) is seen in New York City, U.S., November 15, 2022.

☆ Wall Street jumps in dip-buying rally, oil slides
▼ + stars: | 2022-12-29 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

[1/3] The Wall Street entrance to the New York Stock Exchange (NYSE) is seen in New York City, U.S., November 15, 2022. All three major U.S. stock indexes jumped in a broad-based rally, with the tech-heavy Nasdaq leading the pack. Those gains were boosted by a rise in U.S. jobless claims, which suggested the Federal Reserve's hawkish monetary policy is having its intended effect. European shares followed their U.S. counterparts higher, but gains were held in check by worries over spiking COVID cases in China, the world's second largest economy. Benchmark Treasury yields softened after three straight days of gains in the wake of U.S. jobless claims data.

☆ Wall Street surges in bargain-hunting rally, oil slides
▼ + stars: | 2022-12-29 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

[1/2] The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, December 27, 2022. All three major U.S. stock indexes rose in a broad-based rally, with the tech-heavy Nasdaq leading the pack. "We didn’t have a Santa Claus rally, so we’re seeing a bit of dip buying as well." The pan-European STOXX 600 index (.STOXX) rose 0.57% and MSCI's gauge of stocks across the globe (.MIWD00000PUS) gained 1.14%. The dollar index fell 0.4%, with the euro up 0.48% to $1.0659.

☆ Wall St ends higher, Treasury yields rise after data flurry
▼ + stars: | 2022-12-23 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

[1/2] The Wall Street entrance to the New York Stock Exchange (NYSE) is seen in New York City, U.S., November 15, 2022. "Everyone’s waiting for 2023 to have a fresh take again," said Paul Kim, chief executive of Simplify ETFs in New York. "Inflation looks fairly sticky and interest rates keep mounting up," Kim said. "And the punchline is (interest) rates will have to be higher for longer." Treasury yields resumed their upward trajectory after data showed personal income rising more than expected and October inflation data was upwardly revised.

☆ Wall Street ends green, dollar dips, Treasury yields rise on BOJ policy shift
▼ + stars: | 2022-12-20 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

"The slightest tweak in their policy has investors scratching their heads as to how to interpret that going forward." [1/4] The Wall Street entrance to the New York Stock Exchange (NYSE) is seen in New York City, U.S., November 15, 2022. REUTERS/Brendan McDermid/ 1 2 3 4Emerging market stocks lost 0.61%. U.S. Treasury yields jumped after Japan's central bank broadened its yield curve control, which prompted a global bond sell-off. Japan's surprise policy review sent the yen to a four-month peak against the greenback, and the dollar fell sharply against a basket of currencies.

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