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☆ Asia shares dip on hawkish Fed remarks; recession risk weighs on commodities, oil
▼ + stars: | 2023-01-10 | by ( Selena Li | ) www.reuters.com time to read: +3 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was down 0.17%. "The main theme overnight was cautiousness in the equity space as stocks pared gains after hawkish comments from two Fed officials. read moreChina stocks on Tuesday snapped a six-session winning streak, while Hong Kong shares jumped to a six-month high. However, any optimism may be short-lived, said Trinh Nguyen, emerging Asia economist at Natixis in Hong Kong. "I think what would temper a lot of this optimism coming up is really the reality of this opening up.

☆ Asia shares dip on hawkish Fed remarks; commods rise on China reopening
▼ + stars: | 2023-01-10 | by ( Selena Li | ) www.reuters.com time to read: +3 min

"The main theme overnight was cautiousness in the equity space as stocks pared gains after hawkish comments from two Fed officials. The dollar index fell 0.068%. read moreChina's reopening buoyed sentiment with its stocks rising for a sixth consecutive session on Monday, while Hong Kong shares jumped to a six-month high. However, any optimism may be short-lived, said Trinh Nguyen, emerging Asia economist at Natixis in Hong Kong. Even in Hong Kong, although it is officially open, the visa issuance has been rather slow," Nguyen said.

☆ Apple's market cap falls under $2 trillion as selloff continues
▼ + stars: | 2023-01-03 | by ( Kif Leswing | ) www.cnbc.com time to read: +1 min

Apple first hit a $2 trillion valuation in Aug. 2020, as the pandemic boosted its sales of computers and phones for remote work or school. It briefly hit a market value over $3 trillion during trading last January. A recent report from supply chain analyst Trendforce said that it saw Apple's iPhone shipments declining 22% in the December quarter. At just over $124 per share, Apple would hit its latest 52-week low if it closes at the current price. Apple's share price fell nearly 27% in 2020.

☆ Elon Musk's Tesla, the world's leading EV maker, is capping off 2022 as one of the S&P 500's worst-performing stocks.
▼ + stars: | 2022-12-27 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

But to Musk, prices have already started dropping, which eliminates the need for the Fed to keep rates so high. If it was all [interest] rates, NDX would be down a similar amount," Black tweeted at Musk. Ultimately, Tesla investors shouldn't feel alone in their pain amid downtrodden stock prices this year. How has your view of Tesla stock changed since October? Their managers told us how they overcame a brutal year for the stock market, and shared the stock picks that worked best.

☆ Elon Musk touts beaten-down Tesla stock as a potential bargain - and blasts the Fed for going overboard with interest-rate hikes
▼ + stars: | 2022-12-22 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Elon Musk said the plunge in Tesla stock might present a "buying opportunity." The automaker's CEO blasted the Fed for hiking interest rates when prices may already be declining. "I keep saying that Fed rate is insane, because data I'm seeing says we're already in deflation," he tweeted. He appeared to be speaking from experience, given he's personally borrowed against his Tesla stock, and relied on leverage to finance his Twitter purchase this year. Musk may blame Tesla's stock plunge on the Fed slashing the appeal of stocks this year.

☆ How the Federal Reserve affected 2022's stock market
▼ + stars: | 2022-12-22 | by ( Carlos Waters | In Carloswaters | ) www.cnbc.com time to read: +2 min

The Federal Reserve, over its more than centurylong existence, has emerged as a leading force in the stock market. The guidance often hints at the expected path of the federal funds interest rate target in advance of a policy change. That has many people on Wall Street waiting for the central bank to pivot, and bring interest rates back down. Nonetheless, many experts believe that central bank policy is only one piece of the puzzle. Watch the video above to learn how the Fed shaped 2022's stock market.

☆ Morning Bid: A year in reverse
▼ + stars: | 2022-12-21 | by ( ) www.reuters.com time to read: +4 min

[1/2] Traders work on the trading floor at the New York Stock Exchange (NYSE) in New York City, U.S., December 14, 2022. REUTERS/Andrew KellyA look at the day ahead in U.S. and global markets from Mike Dolan. The EV firm's ailing stock popped up about 2% from two-year lows in pre-market trading on the news. Reuters GraphicsBroader world markets headed into the holiday-strewn year-end in only a slightly less gloomy mood on Wednesday. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Morning Bid: Still a ways to go?
▼ + stars: | 2022-12-15 | by ( ) www.reuters.com time to read: +5 min

For markets navigating the barrage of major central bank interest rate rises this week - there's a ways to go, much as Fed chief Jerome Powell insists about the tightening cycle. Central banks in the Philippines, Norway and Taiwan also raised rates by 50bp, 25bp and 12.5bp respectively. But the policy message all around is that more pain is coming unless there's further evidence of sky-high inflation rates returning to 2% targets. Peak Fed rates implied in futures markets on Thursday remain 20bp below that official Fed projection and year-end market pricing is some 70bp below it. The economy there lost more steam in November as factory output slowed and retail sales extended declines, both missing forecasts and clocking their worst readings in six months.

☆ Morning Bid: Factory gates
▼ + stars: | 2022-12-09 | by ( ) www.reuters.com time to read: +4 min

Wherever you think inflation is coming from, it's not China - not yet at least. China's producer prices fell 1.3% over the past year and consumer price inflation fell to just 1.6% in November - its slowest pace in eight months. With the critical U.S. consumer price inflation due on Tuesday, just before the Federal Reserve delivers its final interest rate rise of the year the following day, today's readout is expected to show annual U.S. producer price inflation dropping to 7.2% from 8.0% in October. Canada's TC Energy shut its Keystone pipeline in the United States after more than 14,000 barrels of crude oil spilled into a creek in Kansas, making it one of the largest crude spills in the United States in nearly a decade. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Here are Thursday's biggest analyst calls: Amazon, Chevron, Chipotle, Lowe's, Hershey, AT&T & more
▼ + stars: | 2022-12-08 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Wall Street's biggest calls on Thursday: Bank of America reiterates Chevron as buy Bank of America said it's standing by its buy rating on the oil and gas giant after it announced its 2023 capital budget on Wednesday. JPMorgan upgrades Vulcan Materials to overweight from neutral JPMorgan said risks for the construction materials company are already priced in. UBS initiates Shopify as sell UBS said it's concerned about increasing competition. UBS upgrades Hershey to buy from neutral UBS said it's becoming bullish on the chocolate and candy maker's long-term growth. Bank of America reiterates Lowe's as buy Bank of America said shares of Lowe's remain attractive.

☆ Morning Bid: Bonds lap up crude, costs and Canada
▼ + stars: | 2022-12-08 | by ( ) www.reuters.com time to read: +4 min

The big consensus bet of 2023 is already in full swing - bonds are bid. With year-on-year oil price gains evaporating to zero, that is dragging inflation expectations down in lockstep. The exception was in Hong Kong, which the Hang Seng benchmark (.HSI) has now recouped all this year's underperformance versus world indices and the S&P500. The Hang Seng added another 3% on Thursday as the Hong Kong government loosened its COVID-19 curbs further. The isolation period for patients and contacts will be cut to five days from seven days and requirements for arrivals to Hong Kong to undergo daily tests will similarly be reduced to five days.

☆ Morning Bid: Crude deflation?
▼ + stars: | 2022-12-07 | by ( ) www.reuters.com time to read: +4 min

With everyone on Wall St seemingly hand wringing about stagflation next year, the price of crude oil has plummeted by up to 10% this week to its lowest since early January - offering some relief in an otherwise murky outlook. Crucially for inflation worriers, year-on-year crude price gains - which were running at 50-100% between February's Ukraine invasion and midyear - have now fallen to just 4% and could soon be a disinflationary force in consumer price baskets. But, contrary to many prior energy market assumptions, the impact of Monday G7's Russian oil price cap at $60pb for seaborne crude is anchoring prices and underscoring massive discounts for Russia oil - already selling for as low as $55pb. The Bank of Canada is the latest on the list on Wednesday and expected to hike rates by another half point, as are the Federal Reserve, European Central Bank and Bank of England next week. European and Asia bourses - even Shanghai and Hong Kong despite the lifting COVID restrictions - were in negative territory too.

☆ Morning Bid: Five Alive
▼ + stars: | 2022-12-06 | by ( ) www.reuters.com time to read: +4 min

And given that investors are overwhelmingly positioning for peak rates by mid year and Fed rate cuts after that, the 'good news is bad news' reactions re-emerged on Monday. Futures markets pushed their implied Fed 'terminal rate' next May back above 5% - from as low as 4.85% shortly after Fed Chair Jerome's peculiarly dovish speech last week. There were further signs that China's COVID restrictions are being lifted gradually - though that's ambiguous for global inflation outlooks more generally. There will also be attention later on the U.S. Senate runoff in Georgia - although Democrats have control of the Senate regardless. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Morning Bid: China reopening as volatility ebbs
▼ + stars: | 2022-12-05 | by ( ) www.reuters.com time to read: +4 min

What's more, Wall Street's 'fear index' is showing little if any trepidation about the final month of the year. Even though it backed up a bit today, the VIX index of implied S&P500 volatility (.VIX) closed at its lowest in 8 months on Friday. Morgan Stanley updated its China equity recommendation to overweight, citing "multiple positive developments alongside a clear path set towards reopening." China's yuan , surged past 7 to the dollar in onshore and offshore markets - its best levels in almost three months. The China re-opening optimism buoyed the oil price even as OPEC+ nations at the weekend held their targets steady despite last week's market speculation of another output cut.

☆ Morning Bid: Powell clears the decks
▼ + stars: | 2022-12-01 | by ( ) www.reuters.com time to read: +4 min

LONDON, Dec 1 (Reuters) - A look at the day ahead in U.S. and global markets from Mike Dolan. Intended or not, investors clearly read Wednesday's keynote speech by the Federal Reserve chair as a green light for a yearend relief rally in beaten down assets. On the face of it, Fed chief Jerome Powell merely confirmed what most had already assumed - that the Fed would downshift the size of its interest rate rises to half a point next month. The upshot is that markets have dragged their implied peak Fed rate next year back below 5% and continue to price up to half a point of cuts by the end of 2023. Core PCE inflation numbers are due later and another barrage of Fed speakers to hold Powell's take up to the light.

REUTERS/Aly Song/File PhotoLONDON, Nov 29 - A look at the day ahead in U.S. and global markets from Mike Dolan. They also cheered a relaxation of regulations on developer fundraising that eases the smouldering property sector bust. A crackdown on demonstrations happened simultaneously, with Chinese authorities making inquiries into some protesters as police flooded the city's streets. Strikingly, hawkish Dutch central banker Klaus Knot also said forecasts of recession may be overdone and fears of "overtightening" policy were a "joke". His boss European Central Bank President Christine Lagarde said euro zone inflation, which is expected to ease this month but remain above 10%, has not yet peaked, encouraging speculation of another swingeing 75 basis point interest rate rise next month.

☆ Impactive Capital takes an unprecedented step to seek change at Envestnet. This is what could happen next
▼ + stars: | 2022-11-19 | by ( Kenneth Squire | ) www.cnbc.com time to read: +5 min

Activist Commentary: Impactive Capital is an activist hedge fund founded in 2018 by Lauren Taylor Wolfe and Christian Alejandro Asmar. Impactive wants board representation to get Envestnet to better align pay for performance, refocus on capital allocation and bolster long-term shareholder value. Anyone with any understanding of Impactive, Envestnet's performance and the incumbent board would know that Impactive is sure to get at least one board seat in a proxy fight. Impactive offered one of eight with no incumbent losing a board seat. Squire is also the creator of the AESG™ investment category, an activist investment style focused on improving ESG practices of portfolio companies.

☆ Morning Bid: Cat, mouse and 5%
▼ + stars: | 2022-11-18 | by ( ) www.reuters.com time to read: +4 min

A look at the day ahead in U.S. and global markets from Mike Dolan. The cat-and-mouse game between the Fed and financial markets has intensified around 5% peak interest rates next year as next week's Thanksgiving holiday hoves into view. In Europe, the euro , euro bond yields and bank stocks (.SX7P) climbed on Friday as the European Central Bank prepared for the start the biggest withdrawal of cash from the euro zone's banking system in its short history. The crypto world continued to lick its wounds amid unfolding revelations and reverberations surrounding the collapse of exchange FTX. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ This under-the-radar cooler stock is ‘bear proof,’ Canaccord Genuity says
▼ + stars: | 2022-11-17 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

Investors should utilize the sharp pullback in Yeti 's stock to buy into a company with "solid fundamentals" at a steep discount, according to Canaccord Genuity. Analyst Brian McNamara initiated coverage of the cooler and drinkware maker with a buy rating in a note to clients Wednesday, saying the stock is as "bear-proof as its coolers" and calling the company an "iconic global lifestyle brand with staying power." Shares of Yeti have underperformed since the start of the year, falling 48% compared with a roughly 18% drawback in the S & P 500 . The firm's $58 price target suggests shares could rebound about 35% from Wednesday's close. "Despite its first 'miss & cut' as a public company with Q2 results and a potential risk that an incoming CFO could lower the bar, we believe market expectations are overly conservative," McNamara wrote.

☆ Morning Bid: Disinflation stations
▼ + stars: | 2022-11-11 | by ( ) www.reuters.com time to read: +4 min

A year ago, the prospect of a 7.7% annual inflation rate 12 months on would have been shocking. As world markets everywhere rose in sympathy, those Wall St gains appear to be holding at least on Friday. The swoon in U.S. Treasury yields and the dollar was probably even more significant, with two-year yields recording their biggest one-day drop since 2008 and the dollar its deepest fall since 2015. Although Bitcoin managed to bounce with all world markets, it's struggled to keep a foothold back above $17,000 on Friday and is still nursed losses totalling 17% this month alone. University of Michigan November sentiment and inflation expectationsUS inflation, Fed rates and marketsReuters GraphicsReuters Graphics Reuters GraphicsReuters GraphicsBy Mike Dolan, editing by Angus MacSwan <a href="mailto:mike.dolan@thomsonreuters.com" target="_blank">mike.dolan@thomsonreuters.com</a>.

☆ Carl Icahn snaps up shares of canning giant Crown. Here’s how he may build value
▼ + stars: | 2022-11-05 | by ( Kenneth Squire | ) www.cnbc.com time to read: +7 min

Business: Crown Holdings is a worldwide leader in the design, manufacture and sale of packaging products for consumer goods and industrial products. Activist Commentary: Carl Icahn is the grandfather of shareholder activism and a true pioneer of the strategy. The opportunity to create shareholder value here is relatively simple: sell non-core businesses, buy back shares and focus on the pure-play beverage business. The company announced its acquisition of Signode, a transit packaging business, for $3.9 billion in 2017, and might be reluctant to sell it for less than that now. There is more value in how they use those proceeds (i.e., buying back stock in an undervalued, growing business).

☆ Morning Bid: Slower, higher, longer
▼ + stars: | 2022-11-03 | by ( ) www.reuters.com time to read: +3 min

A look at the day ahead in U.S. and global markets from Mike Dolan. U.S. Treasury yields are on the rise again as Fed rate futures now expect a terminal rate as high as 5.15% by May, with pricing for end-2023 rates just shy of 5% too - half a point higher than where futures had priced the terminal rate just one month ago. European Central Bank President Christine Lagarde said the ECB must be "attentive" to Fed policy decisions as it influences global markets - but it cannot just mirror moves in Washington. In banking, Morgan Stanley is expected to start a new round of layoffs around the world over the coming weeks. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Morning Bid: Tech melts, buck bounces
▼ + stars: | 2022-10-28 | by ( ) www.reuters.com time to read: +3 min

All of which raises some questions about the price at which Elon Musk eventually agreed to buy Twitter. But the dollar rallied on Friday as other central banks looked to more than match any easier Fed tilt. Eyes are shifting to another U.S. inflation update later, with European growth and inflation numbers surprising to the upside. Although spurred back higher on Friday by the inflation news, European bond markets had a dovish take on Thursday's doubling of European Central Bank interest rates to 1.5%. Key developments that should provide more direction to U.S. markets later on Friday:* U.S. September PCE price index, personal income and consumption.

☆ Goldman says this options strategy around earnings is returning 13%. How to play it next
▼ + stars: | 2022-10-26 | by ( Jesse Pound | ) www.cnbc.com time to read: +2 min

The earnings season has been slightly better-than-expected so far, and that has created a winning trend for options traders, according to Goldman Sachs. "Buying calls ahead of earnings for the average US stock with liquid options has returned +13% return on premium QTD. A call option is a bet that a stock will rise above a pre-set strike price before its expiration date. Goldman identified upcoming earnings reports where the price of options looks cheap. "Looking ahead, we recommend buying calls or replacing stock positions with call options on stocks reporting earnings, as the broad decline in options prices has made volatility buying strategies attractive," Vivek wrote.

☆ Morning Bid: Consumer drain as banks gain
▼ + stars: | 2022-10-26 | by ( ) www.reuters.com time to read: +5 min

Google's results in particular bode ill for Facebook parent Meta Platforms (META.O), especially reliant on advertising and reporting its results late on Wednesday. Consumer blues contrasted with bumper earnings from banks who are raking in huge windfalls from rising interest rates - direct cash injections from reserves they hold at central banks along with higher net interest margins and trading revenues flattered by volatile markets. read more read more read more read moreEuropean banks reporting this week matched Wall St counterparts on that score, raising conundrums for the European Central Bank meeting this week and Bank of England and U.S. Federal Reserve gatherings next week. They all plan further policy rate rises to rein in inflation - but this also involves direct transfers to their banks and potentially a drain on government finances. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

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