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☆ China growth concerns weigh on European shares at open
▼ + stars: | 2023-07-05 | by ( ) www.reuters.com time to read: +1 min

[1/2] The logo of LVMH Moet Hennessy Louis Vuitton is seen during the company's shareholders meeting in Paris, France, April 20, 2023. REUTERS/Gonzalo Fuentes/File Photo/File PhotoJuly 5 (Reuters) - European shares fell on Wednesday as fresh data pointing to China's faltering economic recovery soured investor sentiment, which has been under pressure from uncertainty about future monetary policy steps by major central banks. The pan-European STOXX 600 index (.STOXX) was down 0.4% by 7:02 GMT, following a quiet session on Tuesday when the U.S. markets were closed for Independence Day. Miners (.SXPP) fell 1.0% and were the biggest sectoral decliners as concerns around weak demand from top consumer China, as well as slowing growth in other major economies, hurt metal prices. Reporting by Amruta Khandekar; Editing by Dhanya Ann ThoppilOur Standards: The Thomson Reuters Trust Principles.

Persons: LVMH Moet Hennessy Louis Vuitton, Gonzalo Fuentes, Pernod Ricard, Hermes, Amruta Khandekar, Dhanya Ann Thoppil Organizations: REUTERS, Independence, Thomson Locations: Paris, France, U.S, China

Tesla (TSLA.O) gained 7.4% to hit a nine-month high, a day after its car deliveries topped market estimates on the back of incentives and steeper discounts. The consumer discretionary sector (.SPLRCD) that includes Tesla rose 1.5%, leading gains among the top 11 S&P 500 sectors, while healthcare stocks (.SPXHC) declined. Fidelity National Information Services (FIS.N) added 5.4% as buyout groups weighed bids for a majority stake in Worldpay, co-owned by the financial services firm, according to a Financial Times report. Advancing issues outnumbered decliners by a 2.02-to-1 ratio on the NYSE and a 1.53-to-1 ratio on the Nasdaq. The S&P index recorded 12 new 52-week highs and no new low, while the Nasdaq recorded 42 new highs and 33 new lows.

Persons: Hogan, Investors, Li Auto, Bansari Mayur Kamdar, Johann M, Pooja Desai, Vinay Dwivedi Organizations: Dow, Nasdaq, Riley, General Motors, Ford, EV, Rivian Automotive, Traders, Apple, Microsoft, Dow Jones, Fidelity National Information Services, Financial, NYSE, Thomson Locations: Worldpay, Bengaluru

Helped by gains in Apple, technology stocks (.SPLRCT) rose 1.6% and led advance among the 11 major S&P 500 sectors. Excluding the volatile food and energy components, the PCE price index gained 0.3%, down from 0.4% in the previous month. Despite a recent streak of losses, the three main U.S. indexes were on course to end June and the second quarter on a high note as investors expect the Fed's aggressive tightening will not derail the U.S. economy. The CBOE Market Volatility Index (.VIX), Wall Street's fear gauge, slipped to a one-week low at 13.48 points. The S&P index recorded 67 new 52-week highs and no new lows, while the Nasdaq recorded 76 new highs and 24 new lows.

Persons: we're, Peter Andersen, Jerome Powell, Jefferies, Sruthi Shankar, Johann M Cherian, Shashwat Chauhan, Shinjini Organizations: Nike, Apple, Dow, Nasdaq, Apple Inc, Commerce Department, Andersen Capital Management, Traders, Dow Jones, Treasury, Nike Inc, Carnival Corp, NYSE, Thomson Locations: Boston, U.S, Bengaluru

Bank of New York Mellon (BK.N) and Charles Schwab (SCHW.N) rose 1.1% and 2.0%, respectively. The S&P 500 banks index (.SPXBK) gained 2.5%, while the KBW Regional Banking index (.KRX) climbed 1.8%. Six of the 11 major S&P 500 sectors rose, as gains in financials (.SPSY) and energy (.SPNY) helped offset losses in utilities (.SPLRCU) and consumer staples (.SPLRCS). The S&P index recorded 11 new 52-week highs and two new lows, while the Nasdaq recorded 30 new highs and 29 new lows. Reporting by Sruthi Shankar and Johann M Cherian in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

Persons: JPMorgan Chase, Goldman Sachs, Wells, Charles Schwab, Thomas Hayes, Jerome Powell, Powell's, Sruthi Shankar, Johann M, Shinjini Organizations: Dow, Nasdaq, Bank of America, JPMorgan, Bank of New York Mellon, Great, Reuters, Dow Jones, Micron Technology, Occidental Petroleum, Berkshire Hathaway Inc, NYSE, Thomson Locations: KBW, Great Hill, financials, Bengaluru

With inflation still high, Phil Blancato CEO Ladenburg Asset Management said Powell is "not wrong" to keep policy tight. Apple Inc (AAPL.O) hit an all-time high during the session and registered a record closing high for the second session in a row. [1/2]Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., June 27, 2023. The S&P banks index (.SPXBK) slipped 0.5% ahead of the Fed's annual stress test results after markets close on Wednesday. The S&P 500 posted 39 new 52-week highs and 6 new lows; the Nasdaq Composite recorded 70 new highs and 127 new lows.

Persons: Fed's Powell, Jerome Powell, Powell, Quincy Krosby, Phil Blancato, Brendan McDermid, decliners, LPL's Krosby, Oppenheimer, Mills, Sinéad Carew, Sruthi Shankar, Johann M, Vinay Dwivedi, David Gregorio Our Organizations: Dow, Nasdaq, Federal, European Central Bank, Global, LPL, Management, Independence, Traders, Dow Jones, Apple Inc, Microsoft, P's, Nvidia, Wall Street Journal, New York Stock Exchange, REUTERS, Investors, Netflix Inc, NYSE, Thomson Locations: Quincy, United States, China, New York City, U.S, New York, Bengaluru

Apple Inc (AAPL.O) rose 0.7% to an all-time high, while Amazon (AMZN.O), Alphabet (GOOGL.O) and Tesla (TSLA.O) rose between 1.1% and 3.2%. The S&P banks index (.SPXBK) slipped 0.5% ahead of the results due after markets close on Wednesday. Advancing issues outnumbered decliners by a 1.01-to-1 ratio on the NYSE and a 1.07-to-1 ratio on the Nasdaq. The S&P index recorded 36 new 52-week highs and six new lows, while the Nasdaq recorded 50 new highs and 79 new lows. Reporting by Sruthi Shankar and Johann M Cherian in Bengaluru Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, Dow, Michael Green, Jerome Powell, Patrick Kaser, Oppenheimer, Mills, Sruthi Shankar, Johann M, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Nasdaq, Apple, Microsoft, Federal, Apple Inc, Management, Nvidia, Wall Street Journal, Central Bank, U.S, Brandywine, Traders, Dow Jones, Bank, Netflix Inc, NYSE, Thomson Locations: New York City, U.S, United States, China, bank's, Bengaluru

☆ Wall Street rises after upbeat economic data, recovery in megacaps
▼ + stars: | 2023-06-27 | by ( Sruthi Shankar | ) www.reuters.com time to read: +3 min

New home sales and consumer confidence data are due later in the day. A winning run on Wall Street came to a halt last week after Powell said there were more rate hikes on the cards. Snowflake (SNOW.N) climbed 2.6% after the cloud data analytics company announced partnership with Nvidia (NVDA.O) to allow customers to build AI models using their own data. The S&P index recorded eight new 52-week highs and one new low, while the Nasdaq recorded 18 new highs and 48 new lows. Reporting by Sruthi Shankar, Johann M Cherian and Ankika Biswas in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

Persons: Powell, Peter Andersen, Jerome Powell, Premier Li Qiang, Bernstein, Sruthi Shankar, Johann M Cherian, Ankika Biswas, Shinjini Organizations: Dow, Nasdaq, Commerce Department, Reuters, Fed, Andersen Capital Management, European Central Bank, Dow Jones, Nvidia, Meta, Citigroup, Alibaba, Premier, Google, Walgreens Boots Alliance, Lordstown Motors, Foxconn, NYSE, Thomson Locations: Sintra, Portugal, U.S, Bengaluru

Adding to uncertainty was the start of the second quarter's final week on Monday, weeks ahead of the financial reporting season. Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., November 15, 2022. But Carnival (CCL.N) slumped 7.6% after the cruise operator forecast third-quarter earnings below Wall Street expectations. The S&P 500 posted 18 new 52-week highs and two new lows; the Nasdaq Composite recorded 53 new highs and 154 new lows. On U.S. exchanges 9.28 billion shares changed hands compared with the 11.62 billion average for the last 20 sessions.

Persons: Tesla, Aston Martin, Vladimir Putin's, Putin, Jerome Powell, Carol Schleif, they've, Schleif, Chris Zaccarelli, Zaccarelli, Brendan McDermid, Powell, Goldman Sachs, UK's Aston Martin, decliners, Sinéad Carew, Sruthi Shankar, Johann M, Shinjini Ganguli, Richard Chang Organizations: Pfizer, Aston, Dow, Nasdaq, Monday, U.S . State Department, Meta Platforms Inc, Inc, Tesla Inc, BMO, Investors, Independent, Alliance, Dow Jones, New York Stock Exchange, REUTERS, University of, Pfizer Inc, UBS, Ares Management, NYSE, Thomson Locations: Russia, Minneapolis, Charlotte, North Carolina, New York City, U.S, New York, Bengaluru

Technology (.SPLRCT) and real estate sectors (.SPLRCR) were the other top gainers among the 11 major S&P 500 sectors. ET, the Dow Jones Industrial Average (.DJI) was down 19.60 points, or 0.06%, at 33,707.83, the S&P 500 (.SPX) was up 6.90 points, or 0.16%, at 4,355.23, and the Nasdaq Composite (.IXIC) was up 51.68 points, or 0.38%, at 13,544.20. Advancing issues outnumbered decliners by a 2.97-to-1 ratio on the NYSE and 1.37-to-1 ratio on the Nasdaq. The S&P index recorded 17 new 52-week highs and one new low, while the Nasdaq recorded 37 new highs and 67 new lows. Reporting by Sruthi Shankar and Johann M Cherian in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

Persons: Tesla, Aston Martin, Jerome Powell, Randy Frederick, Charles Schwab, Goldman Sachs, UK's Aston Martin, Lockheed Martin, Sruthi Shankar, Johann M, Shinjini Organizations: Pfizer, Aston, Dow, Nasdaq, Technology, University of, Dow Jones, Pfizer Inc, Inc, UBS, Tesla, Ares Management, Lockheed, Northrop Grumman Corp, Raytheon Technologies, NYSE, Thomson Locations: Russian, U.S, Russia, Bengaluru

☆ Wall Street ends lower, pausing rally as Powell testimony looms
▼ + stars: | 2023-06-20 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

All three major U.S. equity indexes ended the session in the red but off session lows, with oil super-majors Exxon Mobil Corp weighing on the S&P 500 and the Dow. Including Tuesday's loss, the benchmark S&P 500 has advanced 14.3% so far this year. Of the 11 major sectors of the S&P 500 all but consumer discretionary stocks (.SPLRCD) ended in negative territory. The S&P 500 posted 14 new 52-week highs and no new lows; the Nasdaq Composite recorded 68 new highs and 87 new lows. Volume on U.S. exchanges was 11.15 billion shares, compared with the 11.36 billion average for the full session over the last 20 trading days.

Persons: Jerome, Robert Pavlik, Pavlik, We've, Rivian, Morgan Stanley, Daniel Zhang, Eli Lilly, Stephen Culp, Shristi Achar, Shubham Batra, Johann M, Aurora Ellis Organizations: Fedex, Dow, Nasdaq, Federal, Exxon Mobil Corp, Dakota Wealth, U.S . House Financial, Dow Jones, Energy, Rivian Automotive Inc, Tesla Inc, PayPal Holdings, KKR & Co, Nike, Alibaba Group, Adobe Inc, Dice Therapeutics, Fedex Corp, NYSE, Thomson Locations: Fairfield , Connecticut, China, Europe, Bengaluru

Gains in megacap stocks including Nvidia and Microsoft set up the tech-heavy Nasdaq for its eighth consecutive week of gains, while the benchmark S&P 500 was set for its fifth straight week of rise. Trading, however, is expected to be volatile on Friday due to the simultaneous expiration of stock options, stock index futures and index options contracts, known as triple witching. ET, is expected to show the index rose to 60 in June from 59.2 in May. The S&P index recorded 19 new 52-week highs and no new lows, while the Nasdaq recorded 74 new highs and 10 new lows. Reporting by Sruthi Shankar and Shristi Achar A in Bengaluru Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

Persons: Morgan Stanley, Mark Luschini, Janney Montgomery Scott, Sruthi Shankar, Shristi, Vinay Dwivedi Organizations: Nvidia, Adobe, Dow, Nasdaq, Microsoft, Trading, University of, Dow Jones, Adobe Inc, iRobot, NYSE, Thomson Locations: U.S, Bengaluru

☆ Stock Market Today: Dow Rallies 400 Points After Fed Pauses Rate Hikes
▼ + stars: | 2023-06-15 | by ( ) www.wsj.com time to read: +2 min

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

"Until we see several months of low or declining inflation, the headline number is still going to be above the 2% target that the Fed has set. Goldman Sachs on Friday raised its year-end price target for the benchmark S&P 500 (.SPX) to 4,500 from 4,000, citing the broadening of the market rally. Oracle (ORCL.N) advanced 4.3%, hitting an all-time high as J.P. Morgan hiked its price target to $109, ahead of the cloud and enterprise software firm's fourth-quarter results later in the day. Technology stocks (.SPLRCT) led gains among the 11 major sectors of the S&P 500 while energy stocks (.SPNY) fell 0.5%, tracking a decline in crude prices. Adobe (ADBE.O) shares gained 1.6% after Jefferies increased the Photoshop maker's price target to $530, the second highest on Wall Street.

Persons: Melissa Brown, Goldman Sachs, Morgan, Thoma, Jefferies, Shristi Achar, Sruthi Shankar, Vinay Dwivedi Organizations: Nasdaq, Dow, Oracle Corp, U.S, Labor, Traders, Oracle, Dow Jones, Nasdaq Inc, Thoma Bravo, FDA, NYSE, Thomson Locations: megacap, Bengaluru

The benchmark S&P 500 (.SPX) built on Thursday's 20% rise from its Oct. 12 finishing low, heralding the start of a new bull market as defined by some market participants. The S&P 500 (.SPX) gained 4.93 points, or 0.11%, at 4,298.86, taking this week's advance to 0.38% and extending its winning streak to four weeks, the longest since the July-August 2022 period. The Dow Jones Industrial Average (.DJI) rose 43.17 points, or 0.13%, to 33,876.78, for a weekly gain of 0.33%. Declining issues outnumbered advancing ones on the NYSE by a 1.49-to-1 ratio; on Nasdaq, a 1.84-to-1 ratio favored decliners. The S&P 500 posted 15 new 52-week highs and five new lows; the Nasdaq Composite recorded 84 new highs and 53 new lows.

Persons: Dow Jones, Tim Holland, Brendan McDermid, Rick Meckler, Wells, Sruthi Shankar, Shristi, Vinay Dwivedi, Richard Chang Organizations: Adobe, Citi, Nasdaq, Tesla Inc, General Motors Co, GM, Orion, Dow Jones, Apple Inc, Devices, Nvidia Corp, NYSE, American Stock Exchange, New York Stock Exchange, REUTERS, Brendan McDermid Traders, Cherry Lane Investments, Target Corp, Adobe Inc, Netflix Inc, Thomson Locations: Wells Fargo, New York City, U.S, Bengaluru

June 6 (Reuters) - Wall Street's main indexes slipped on Tuesday as investors assessed odds of an interest rate pause by the Federal Reserve at its policy meeting next week, with mixed economic data adding to uncertainty around the rate path. While that signaled the Fed's monetary tightening was cooling the world's largest economy, it followed strong monthly jobs data last week, clouding the outlook for the Fed's policy. "The market is on pause now until we get to the Fed meeting and the inflation data." Advancing issues outnumbered decliners by a 1.50-to-1 ratio on the NYSE and by a 1.24-to-1 ratio on the Nasdaq. Reporting by Sruthi Shankar and Shristi Achar A in Bengaluru Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

Persons: Paul Nolte, Piper Sandler, Sruthi Shankar, Shristi, Vinay Dwivedi Organizations: Devices, Piper, Dow, Nasdaq, Federal Reserve, Murphy, Fed, Dow Jones, U.S . Securities, Exchange Commission, Apple Inc, Meta, Exxon Mobil, Chevron, NYSE, Thomson Locations: U.S, megacap, Bengaluru

That's exactly what the Fed would like to see," said Art Hogan, chief market strategist at B Riley Wealth in New York. The data brought relief to investors who now expect the Fed to skip an interest rate hike this month for the first time since starting its aggressive policy tightening more than a year ago. Fed funds futures trading showed an over 70% probability that the Fed will hold interest rates steady at its June 13-14 policy meeting. The S&P 500 communication services index (.SPLRCL), housing telecoms, fell 0.5% while the S&P 500 consumer discretionary sector (.SPLRCD), housing Amazon, soared 1.6%. The S&P 500 industrials sector (.SPLRCI) rose 1.4%, while Dow heavyweight Caterpillar (CAT.N) gained 3.7%.

Persons: Hogan, they're, FEDWATCH, Shreyashi Sanyal, Shristi, Nivedita Bhattacharjee, Maju Samuel Organizations: Amazon, Dow, Nasdaq, Federal Reserve, Labor, Riley, FEDWATCH Reuters Graphics Reuters, Dow Jones, Amazon.com Inc, Telecom, Verizon Communications, Mobile US Inc, Dish Network Corp, Caterpillar, NYSE, Thomson Locations: New York, United States, China, Bengaluru

The bill to suspend the $31.4 trillion debt ceiling headed to the Senate, which must enact the measure before a Monday deadline, when the government is expected to run out of money to pay its bills. With signs of progress in the debt ceiling saga, focus will now shift to the Labor Department's closely watched jobs report for May, due on Friday, that will help determine whether the Federal Reserve will stick with its aggressive interest rate-hiking cycle. The odds favoring a pause in rate hikes at the Fed's June 13-14 policy meeting were around 71% after the day's datasets. FEDWATCH"We're at the potential beginning of a soft landing," said David Russell, vice president of Market Intelligence at TradeStation. "When you look at the debt ceiling apparently being resolved, we could be in a situation where we wake up from the nightmare of inflation and the risk of a default to the soft landing."

Persons: Goldman Sachs, Chuck Schumer, Philip Jefferson, David Russell, Shreyashi Sanyal, Shristi, Shounak Dasgupta, Maju Samuel Organizations: Dow, Nasdaq, Federal Reserve, ADP, Senate, Democratic, Labor, Federal, Fed, Market Intelligence, Dow Jones, Salesforce Inc, Goldman Sachs Group Inc, Meta, Inc, Macy's Inc, Dollar General Corp, NYSE, Thomson Locations: Bengaluru

WASHINGTON, May 31 (Reuters) - U.S. banks saw total deposits decline by a record 2.5% in the first quarter of 2023, and industry-wide profits were relatively flat after taking into account the effects of two large bank failures, the Federal Deposit Insurance Corporation said Wednesday. The FDIC said the $472 billion in deposit outflows in the first quarter was the largest it had recorded since it began collecting such data in 1984. The decline was primarily from uninsured funds, as insured deposits actually rose $255.1 billion, or 2.5%, amid the failures of Silicon Valley Bank and Signature Bank. The decline in deposits was offset by increased wholesale funding, which rose 14.4% in the first quarter. The results showed banks shrinking the amount of unrealized losses on their books and maintaining strong capital ratios.

Persons: Martin Gruenberg, Gruenberg, Pete Schroeder, Sinead Carew, Nick Zieminski Organizations: Federal Deposit Insurance Corporation, FDIC, Valley Bank, Signature Bank, First Republic Bank, Comerica, Citizens, Thomson

SummarySummary Companies U.S. debt limit talks to kick off at 5:30 p.m. President Joe Biden and House Republican Speaker Kevin McCarthy will meet for talks on Monday after their discussions almost fell apart on Friday. The fresh talks come less than two weeks before a deadline after which the Treasury warned that the federal government will struggle to pay its debts. Reuters Graphics Reuters GraphicsAdvancing issues outnumbered decliners by a 1.71-to-1 ratio on the NYSE and by a 1.78-to-1 ratio on the Nasdaq. The S&P index recorded 13 new 52-week highs and three new lows, while the Nasdaq recorded 46 new highs and 35 new lows.

☆ Wall St slips on debt ceiling uncertainty
▼ + stars: | 2023-05-20 | by ( Chuck Mikolajczak | ) www.reuters.com time to read: +4 min

Stocks had rallied over the past two sessions on growing confidence a deal to raise the $31.4 trillion debt limit could be reached in coming days, with the benchmark S&P 500 (.SPX) climbing more than 2%. For the week, the Dow gained 0.38%, the S&P 500 climbed 1.65% and the Nasdaq advanced 3.04%. The S&P 500 and Nasdaq notched their biggest weekly percentage gains since the final week of March. [1/2] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., April 14, 2023. The S&P 500 posted 28 new 52-week highs and three new lows; the Nasdaq Composite recorded 79 new highs and 87 new lows.

☆ Wall St retreats on debt ceiling jitters
▼ + stars: | 2023-05-19 | by ( Chuck Mikolajczak | ) www.reuters.com time to read: +4 min

[1/2] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., April 14, 2023. Stocks had rallied over the past two sessions on growing confidence a deal to raise the $31.4 trillion debt limit could be reached in coming days, with the benchmark S&P 500 (.SPX) climbing more than 2%. The S&P 500 and Nasdaq were poised for their biggest weekly percentage gains since the final week of March. The warning weighed on Dow component Nike Inc (NKE.N), which lost 4.11%, while Under Armour Inc (UAA.N) fell 4.53%. The S&P 500 posted 28 new 52-week highs and three new lows; the Nasdaq Composite recorded 72 new highs and 69 new lows.

Deere & Co (DE.N) rose 4.4% after the heavy machinery company raised its annual net income forecast buoyed by robust farm incomes. The benchmark S&P 500 index (.SPX) and the Nasdaq (.IXIC) were set for their best weekly performance since late March amid positive debt ceiling talks, less-than-feared earnings and economic data. The S&P 500 banks index (.SPXBK) is on course to end the week 5.4% higher, snapping a three-week losing streak. Over 90% of S&P 500 companies have reported, of which around 77% beat earnings expectations, according to Refinitiv data. The S&P index recorded 27 new 52-week highs and one new low, while the Nasdaq recorded 58 new highs and 28 new lows.

☆ Japan's Nikkei powers to 1990 'bubble' era high
▼ + stars: | 2023-05-19 | by ( Kevin Buckland | ) www.reuters.com time to read: +3 min

TOKYO, May 19 (Reuters) - Japan's Nikkei share average rallied on Friday to the highest since August 1990, the country's so-called "bubble" era, driven by a confluence of positive factors from strong earnings to optimism over a U.S. debt ceiling deal. The broader Topix (.TOPX), which had reached the post-bubble milestone on Tuesday, extended its climb to as high as 2,171.37. Foreign buying thanks to increased investment by Warren Buffett and a push for better corporate governance by the Tokyo Stock Exchange also provided some impetus. The Nikkei had rocketed 6.2% from the May 10 close - when sweeping rally began - to reach Friday's high. "Investors are going to spend today thinking hard about whether this Nikkei rally will continue," said Kazuo Kamitami, an equity strategist at Nomura Securities.

☆ Growing debt ceiling deal hopes send stocks higher
▼ + stars: | 2023-05-18 | by ( Chuck Mikolajczak | ) www.reuters.com time to read: +4 min

The benchmark S&P 500 index (.SPX) rebounded from early declines on news that top U.S. congressional Republican Kevin McCarthy said a deal to raise or suspend the debt ceiling could potentially be reached in time to hold a House vote next week. On Wednesday, President Joe Biden and McCarthy reiterated their aim to strike a deal soon to raise the $31.4 trillion federal debt ceiling and agreed to talk as soon as Sunday. The debt ceiling has drawn attention away from uncertainty about the Federal Reserve's stance on interest rates. Advancing issues outnumbered decliners on the NYSE by a 1.31-to-1 ratio; on Nasdaq, a 1.14-to-1 ratio favored advancers. The S&P 500 posted 27 new 52-week highs and seven new lows; the Nasdaq Composite recorded 88 new highs and 83 new lows.

☆ Debt ceiling optimism helps lift S&P 500, Nasdaq
▼ + stars: | 2023-05-18 | by ( Chuck Mikolajczak | ) www.reuters.com time to read: +4 min

The benchmark S&P 500 index (.SPX) rebounded from early declines on news that top U.S. congressional Republican Kevin McCarthy said a deal to raise or suspend the debt ceiling could potentially be reached in time to hold a House vote next week. On Wednesday, President Joe Biden and McCarthy reiterated their aim to strike a deal soon to raise the $31.4 trillion federal debt ceiling and agreed to talk as soon as Sunday. The debt ceiling has drawn attention away from uncertainty about the Federal Reserve's stance on interest rates. Declining issues outnumbered advancers on the NYSE by a 1.12-to-1 ratio; on Nasdaq, a 1.17-to-1 ratio favored decliners. The S&P 500 posted 23 new 52-week highs and seven new lows; the Nasdaq Composite recorded 77 new highs and 74 new lows.

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