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Ahead of the crucial non-farm payrolls report on Friday, data showed U.S. private payrolls increased more than expected in February, pointing to continued labor market strength. BlackRock's chief investment officer of global fixed income, Rick Rieder, said the Fed could raise rates to 6% and keep them there for an extended period of time to fight inflation. "Unless we get some data over the course of the next two weeks, we really don't know which way we should be landing. Unfortunately the most important piece of the data doesn't come until Friday, that's why we've got a market that's meandering a bit." ET, Dow e-minis were up 33 points, or 0.1%, S&P 500 e-minis were up 4.25 points, or 0.11%, and Nasdaq 100 e-minis were up 19.75 points, or 0.16%.

Traders drastically increased their bets that the U.S. central bank will raise rates by 50 basis points later this month, with money market futures pricing in a 64.1% chance of such a move. BlackRock's chief investment officer of global fixed income, Rick Rieder, said the Fed could raise rates to 6% and keep them there for an extended period of time to fight inflation. ET (1315 GMT) is expected to show private employers hired 200,000 workers in February after adding 106,000 jobs in January. Occidental Petroleum Corp (OXY.N) gained 3.1% after Warren Buffett's Berkshire Hathaway Inc (BRKa.N) increased its stake in the oil company to about 22.2%. Reporting by Sruthi Shankar in Bengaluru, additional reporting by Amruta Khandekar Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

Ahead of the crucial nonfarm payrolls report on Friday, data showed U.S. private payrolls increased more than expected in February, pointing to continued labor market strength. A closely watched part of the U.S. Treasury yield curve saw its deepest inversion in more than 40 years on Tuesday. "Unless we get some data over the course of the next two weeks, we really don't know which way we should be landing. Unfortunately the most important piece of the data doesn't come until Friday, that's why we've got a market that's meandering a bit." BlackRock's chief investment officer of global fixed income, Rick Rieder, said the Fed could raise rates to 6% and keep them there for an extended period of time to fight inflation.

The remarks followed recent data showing an unexpected inflation increase in January and an unusually large jobs gain for the month. Traders dramatically raised their bets for a 50-basis-point rate hike in March after Powell's comments, with money market futures last pricing in a more than 70% chance of such a move, up from around 31% on Monday, according to CME Group's FedWatch tool. Data influencing the Fed's rate hiking path will include Friday's closely watched nonfarm payroll additions for February. Meanwhile, the yield on two-year Treasury notes , which best reflects short-term rate expectations, hit 5% for the first time since July 2007. Dick's Sporting Goods (DKS.N) rallied 11% after the retailer forecast annual earnings above Wall Street estimates and more than doubled its quarterly dividend.

Equities lost ground right after Powell's prepared remarks were released ahead of his testimony and sank further as the session wore on. Powell told U.S. lawmakers the Fed is prepared to move in larger steps if economic data suggests tougher measures are needed to control rising prices. Data the Fed will use to influence its rate hiking path will include Friday's non-farm payroll numbers. Meanwhile, the yield on two-year Treasury notes , which best reflects short-term rate expectations, hit 5% for the first time since July 2007. Dick's Sporting Goods (DKS.N) was up 9.6% after the retailer forecast annual earnings above Wall Street estimates and more than doubled its quarterly dividend.

Meanwhile, Fed fund rates were seen peaking at 5.6% in September compared to 5.47% earlier. Investors are awaiting data later this week that is expected to show nonfarm payrolls increased by 200,000 in February, compared with the much stronger-than-expected 517,000 jobs reported in January. All the 11 major S&P sectors fell, with cyclical sectors such as financials (.SPSY) and materials (.SPLRCM) leading declines. Meanwhile, the yield on two-year Treasury notes , which best reflects short-term rate expectations, rebounded to its highest since 2007 at 4.96%. The S&P 500 recorded 10 new 52-week highs and six new lows, while the Nasdaq posted 40 new highs and 112 new lows.

Traders drastically increased their bets of a 50-basis-point rate hike in March after Powell's comments, with money market futures pricing a more than 40% chance of such a move, from 23% before the remarks. Meanwhile, Fed fund rates were seen peaking at 5.56% in September compared to 5.47% earlier. Investors are awaiting data later this week that is expected to show nonfarm payrolls increased by 200,000 in February, compared with the much stronger-than-expected 517,000 jobs reported in January. Among individual stocks, Rivian Automotive (RIVN.O) tumbled 10.5% after the electric automaker unveiled plans to sell bonds worth $1.3 billion. The S&P index recorded 10 new 52-week highs and four new lows, while the Nasdaq recorded 30 new highs and 77 new lows.

ET (1500 GMT), with investors awaiting his comments on the Fed's steps aimed at bringing inflation towards its 2% target. Rising bond yields tend to weigh on equity valuations, particularly those of growth and technology stocks, as higher rates reduce the value of future cash flows. ET, Dow e-minis were up 25 points, or 0.07%, S&P 500 e-minis were up 6.25 points, or 0.15%, and Nasdaq 100 e-minis were up 32.5 points, or 0.26%. Dick's Sporting Goods (DKS.N) rose 6.1% after the retailer forecast annual earnings above Wall Street estimates and more than doubled its quarterly dividend. Reporting by Sruthi Shankar and Bansari Mayur Kamdar in Bengaluru Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

ET (1500 GMT), with investors awaiting his comments on the Fed's steps aimed at bringing inflation towards its 2% target. Rising bond yields tend to weigh on equity valuations, particularly those of growth and technology stocks, as higher rates reduce the value of future cash flows. Traders see Fed fund rates peaking at 5.46% by September, from the current 4.67%. ET, Dow e-minis were up 12 points, or 0.04%, S&P 500 e-minis were up 5.5 points, or 0.14%, and Nasdaq 100 e-minis were up 29.25 points, or 0.24%. Reporting by Sruthi Shankar and Bansari Mayur Kamdar in Bengaluru Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

March 6 (Reuters) - The S&P 500 made little progress on Monday, closing slightly higher than its session low as U.S. Treasury yields pulled higher with investors braced for this week's testimony from Federal Reserve Chair Jerome Powell and the February jobs report. Rising bond yields tend to weigh on equity valuations, particularly those of growth and technology stocks, as higher rates reduce the value of future cash flows. "People are worried about the jobs number and the economic data because they're worried about what the Fed will do. According to preliminary data, the S&P 500 (.SPX) gained 2.72 points, or 0.07%, to end at 4,048.36 points, while the Nasdaq Composite (.IXIC) lost 12.59 points, or 0.11%, to 11,676.41. Since Powell last spoke strong economic data and hotter than expected inflation have raised concerns the Fed will raise rates higher than expected or keep them higher for longer.

Rising bond yields tend to weigh on equity valuations, particularly those of growth and technology stocks, as higher rates reduce the value of future cash flows. "People are worried about the jobs number and the economic data because they're worried about what the Fed will do. And with potential Fed rate hikes their key concern, Monday's data had already dampened investor enthusiasm, said Shawn Cruz, head trading strategist at TD Ameritrade in Chicago. Since Powell last spoke strong economic data and hotter than expected inflation have raised concerns the Fed will raise rates higher than expected or keep them higher for longer. The S&P 500 posted 20 new 52-week highs and one new low; the Nasdaq Composite recorded 85 new highs and 92 new lows.

Shares of iPhone maker Apple Inc (AAPL.O), last up 2%, were the biggest boost for the S&P 500 index (.SPX) after Goldman Sachs initiated coverage with a "buy" rating. Correlation between S&P 500 and 2-year Treasury bond yieldsMonday's data likely dampened investor enthusiasm, said Shawn Cruz, head trading strategist at TD Ameritrade in Chicago. Six of 11 major S&P 500 sectors rose. Since Powell last spoke strong economic data and hotter than expected inflation have raised concerns the Fed will raise rates higher than expected or keep them higher for longer. The S&P 500 posted 20 new 52-week highs and one new low; the Nasdaq Composite recorded 74 new highs and 71 new lows.

The benchmark S&P 500 (.SPX) is up 6.2% so far this year after a 19.4% plunge in 2022. Nine of 11 major S&P 500 sectors advanced in early trading. However, commodity-linked shares of mining (.SPLRCM) and oil (.SPNY) companies fell 1.0% and 0.2%, respectively, after top crude and metals consumer China set a lower-than-expected target for economic growth this year at around 5%. Shares of cryptocurrency-related companies fell after Silvergate Capital Corp (SI.N) pulled the plug on its crypto payments network, after raising doubts about the company's ability to stay in business. The S&P index recorded 19 new 52-week highs and one new low, while the Nasdaq recorded 69 new highs and 45 new lows.

☆ Futures subdued after strong week on Wall Street
▼ + stars: | 2023-03-06 | by ( ) www.reuters.com time to read: +2 min

SummarySummary Companies Futures: Dow off 0.09%, S&P slips 0.04%, Nasdaq up 0.04%March 6 (Reuters) - U.S. stock index futures were subdued on Monday as investors awaited Federal Reserve Chair Jerome Powell's testimony and monthly payrolls report this week for cues on the central bank's interest-rate trajectory. "But it's always possible that a word like 'disinflation' slips out of his mouth, and that we get a boost on risk." Traders expect at least three 25-basis-point rate hikes this year and see rates peaking at 5.44% by September from 4.67% now. ET, Dow e-minis were down 31 points, or 0.09%, S&P 500 e-minis were down 1.75 points, or 0.04%, while Nasdaq 100 e-minis were up 5.25 points, or 0.04%. Reporting by Sruthi Shankar and Bansari Mayur Kamdar in Bengaluru Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

Rising bond yields tend to weigh on equity valuations, particularly those of growth and technology stocks, as higher rates reduce the value of future cash flows. The three main U.S. stock indexes rallied on Friday and notched weekly gains as yields pulled back from their peaks after comments from Fed policymakers calmed jitters around aggressive rate hikes. Traders expect at least three more 25-basis-point hikes this year and see interest rates peaking at 5.44% by September from 4.67% now. ET, to assess the impact of higher rates on the manufacturing sector. Reporting by Sruthi Shankar and Bansari Mayur Kamdar in Bengaluru Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

☆ U.S.-listed China shares feel the heat as report fans Sino-U.S. tensions
▼ + stars: | 2023-02-24 | by ( ) www.reuters.com time to read: +2 min

Feb 24 (Reuters) - Shares of Chinese companies listed in the United States fell in early trading on Friday as reports that Washington was looking to expand the number of troops helping train Taiwanese forces added to rising Sino-U.S. tensions. The iShares China Large-Cap ETF slipped 2.9%, while KraneShares CSI China Internet ETF shed 2.8%. China's blue-chip CSI300 Index (.CSI300) closed 1% lower during Asia hours, while shares of aerospace defense companies jumped. Relations between the world's two largest economies worsened this month over the shooting down of the Chinese spy balloon, weighing on China ADRs after a sharp rally starting late last year. A multitude of factors weighed on China ADRs last year including a risk of delisting from U.S. exchanges over an audit dispute, trade friction and geopolitical worries.

The pan-European STOXX 600 index (.STOXX) closed 0.1% higher ahead of a slew of economic data due later this week. Telecom Italia (TIM) (TLIT.MI) fell 2.7% as a government-sponsored offer rivalling KKR's bid for the former phone monopoly's prized grid failed to materialise over the weekend. The EURO STOXX index (.STOXXE), which houses major companies in the eurozone, inched down 0.1%. On the economic front, euro zone consumer confidence rose by 1.7 points in February from January, as expected, figures showed. Forvia, the European car parts maker born from Faurecia's (EPED.PA) takeover of Hella (HLE.DE), forecast stable 2023 sales, sending Faurecia nearly 2.3% higher.

☆ Adani Enterprises swings to Q3 profit; makes no "material" adjustments post Hindenburg
▼ + stars: | 2023-02-14 | by ( ) www.reuters.com time to read: +2 min

The group's seven listed stocks have together lost over $120 billion in market value since Jan. 24. The profit came on the back of boosts from its key coal trading division and its new energy businesses. Earnings before interest, taxes, depreciation, and amortization (EBITDA) for its mainstay coal trading business saw a whopping four-fold surge, while that of the Adani New Energy segment more than doubled. The coal trading division benefited from a rise in volumes as well as higher coal prices, while Adani New Energy segment saw a surge in the volumes and prices of solar modules, the company said. Global coal prices remained at elevated levels for most of 2022 as European buyers were willing to pay a premium and make up for the absence of cargo from Russia, their main supplier of LNG and coal.

The BOJ’s YCC faces a reckoningThe surprise news left investors and analysts trying to parse Ueda's recent commentary. "There is probably a lack of clarity on Ueda's policy leanings at the moment, but at least it is clear that Amamiya (who is seen as a dove) is out. That removes one of the headwinds for the yen," said Christopher Wong, currency strategist at OCBC in Singapore. "The knee-jerk reaction in yen appreciation is more of a reaction to Amamiya being out of the race." I think the new team means that they will redesign the BOJ's monetary policy, not maintain the current policy," said Takayuki Miyajima, a senior economist at Sony Financial Group in Tokyo.

The government declared a "level 4 alarm", calling for international assistance, and a three-month state of emergency in the most affected provinces. 'BLACK SWAN'Reconstruction costs are likely to run to many billions of dollars, straining an economy already hit by 58% inflation. The six-party opposition said only that the government should work "without discrimination" to address the disaster that hit regions including Kurdish communities and Syrian refugees. But Ugur Poyraz, Secretary General of centre-right nationalist IYI Party, said he had toured severely hit areas and as of Tuesday morning seen no sign of emergency rescue workers. "The response of Erdogan's government to this natural disaster might shape the attitude of the floating voter but the loyalties of most voters are already determined."

☆ Turkey's lira slips to fresh record low, stocks tumble
▼ + stars: | 2023-02-06 | by ( ) www.reuters.com time to read: +2 min

LONDON, Feb 6 (Reuters) - Turkey's lira hit a fresh record low and its stock markets tumbled on Monday as a major earthquake added to pressures from a strong dollar, geopolitical risks and surprise inflation readings out of the country. The lira slipped to 18.85 , in early trade before retracing most of its losses. More than 500 people were killed and thousands injured on Monday, after a major earthquake of magnitude 7.8 struck central Turkey and northwest Syria. But Turkey is feeling additional pressures. "A new window of FX volatility could be around the corner."

☆ Factbox: Adani's $2.5 bln share offer gets investor backing after tumultuous week
▼ + stars: | 2023-01-31 | by ( ) www.reuters.com time to read: +1 min

Jan 31 (Reuters) - The secondary share sale of billionaire Gautam Adani's flagship Adani Enterprises (ADEL.NS) was fully subscribed on Tuesday, after a rough week for the Indian group that saw a sharp sell-off in its shares following a scathing short-seller report. Foreign institutional investors and corporates pumped in funds into the share sale, according to data, while participation by retail investors and Adani Enterprises employees remained low. Adani has called Hindenburg Research's report a "calculated attack". U.S.-based Hindenburg disclosed last week that it holds short positions in Adani companies and accused the conglomerate of improper use of offshore tax havens, and also flagged concerns about its debt levels. Below is what some of the investors who subscribed to the follow-on public offer (FPO) - either as anchor investors earlier this month or after the short-seller report - had to say about their exposure to Adani:Reporting by Bansari Mayur Kamdar in Bengaluru; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

☆ Instant View: Adani's $2.5 billion offer rides out share storm with investor backing
▼ + stars: | 2023-01-31 | by ( ) www.reuters.com time to read: +5 min

COMMENTARYAMBAREESH BALIGA, INDEPENDENT MARKET ANALYST, MUMBAI"The FPO did get subscribed, thanks to a few institutional as well as large family offices. DEEPAK JASANI, HEAD OF RETAIL RESEARCH, HDFC SECURITIES, MUMBAI"For Indian markets, one of the concern areas is out of the way for the time being as this was weighing on investor sentiment. Since the current market price is below the offer price, the retail subscription was low as investors can rather buy it from the market." That was their focus area considering the fact that there was a difference between the market price and the floor price of the FPO. It seems that retail investors did not consider the fact that there is more to rates than just the price."

About a quarter of the S&P 500 companies have reported earnings so far, of which 69% have beaten analysts' estimates, according to Refinitiv data as of Thursday. Both companies were among the biggest boosts to the S&P 500 (.SPX) and the Dow Jones Industrial Average (.DJI). Seven of the 11 major S&P 500 sectors edged higher with the consumer discretionary sector (.SPLRCD) surging 1.4%. Advancing issues outnumbered decliners by a 1.32-to-1 ratio on the NYSE and by a 1.37-to-1 ratio on the Nasdaq. The S&P index recorded 12 new 52-week highs and no new low, while the Nasdaq recorded 43 new highs and 21 new lows.

☆ A South American currency union? Don't hold your breath
▼ + stars: | 2023-01-23 | by ( Rodrigo Campos | ) www.reuters.com time to read: +4 min

That came after the leaders had touted a "common South American currency" on Sunday and officials told the Financial Times the tender could even be called the "sur" and eventually look to bring in other countries around South America. "It has failed to achieve simpler integration goals than that of a common currency." He called the idea of a currency union a "fantasy." Currency union talk was just a distraction, she said. Todd Martinez, a director at Fitch Ratings' sovereigns group focused on Latin America, said the two countries appeared to be unlikely partners to form a successful currency union, given their diverging economies.

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