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☆ US stocks end mixed as investors brace for Powell's testimony to Congress
▼ + stars: | 2023-03-06 | by ( Carla Mozée | ) www.businessinsider.com time to read: +3 min

Equities appeared in a holding pattern until Fed boss Jerome Powell delivers testimony about monetary policy this week. The 10-year Treasury yield edged higher after pulling back at the end of last week. "I think we'll be in a holding pattern until we get that nonfarm payrolls report," said Mayfield, referring to jobs report due out this Friday. "But I do think nonfarm payrolls could be interesting to see if there's a revision or not to the January number. The whole shift in the tone of markets started at the beginning of February when we got that January nonfarm payrolls number," Mayfield said.

☆ Bank of America reveals the winning market share gainers with more room to run
▼ + stars: | 2023-03-04 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Analysts at Bank of America named a slew of companies this week that they believe are winning market share in this tough economic environment and so the stocks have more room to run. They include: Analog Devices , TJX Companies, Zeta Global , Costco and Union Pacific. TJX Companies The discount retailer has room to grow, especially as shoppers look to save money by trading down, according to analyst Lorraine Hutchinson. We value ADI at the higher end of peer comps due to ADI's growth potential and free cash flow generation." as we view TJX as a market share gainer that is well positioned to benefit from trade-down and the high level of inventory availability.

☆ This week's best performers include Salesforce and these solar stocks
▼ + stars: | 2023-03-03 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

Solar energy names First Solar and SolarEdge Technologies both made the list of this week's biggest gainers. First Solar was this week's top performer, with shares popping 23.2% following strong guidance for 2023. More than half of analysts covering the stock rate it a buy, but also see it coming down slightly from current levels. Software company Salesforce was also one of this week's notable gainers, with the stock on Thursday having their best day since 2020 following a blowout earnings report. Several non-energy materials stocks were also strong performers this week, with Steel Dynamics and Mosaic gaining 12.5% and 9.4%, respectively.

☆ Reata shares hit 1-year high after surprise FDA nod for rare disease drug
▼ + stars: | 2023-03-01 | by ( ) www.reuters.com time to read: +2 min

March 1 (Reuters) - Shares of Reata Pharmaceuticals Inc (RETA.O) soared 175% to hit a one-year high in early trading on Wednesday, after the U.S. Food and Drug Administration (FDA) approved its rare disease drug and ended years of uncertainty over its future. The U.S. biotech firm's shares jumped to $86, their highest since December 2021. The nod follows years of back and forth between Reata and the FDA. Reata's shares had tumbled 30% following Dunn's resignation as investors had fretted about the possibility of approval under a new division head. "We've followed some pretty dramatic stories in the past, but the Reata odyssey is in the Hall of Fame," said Baird analyst Brian Skorney.

☆ UK's FTSE 100 rises on miners boost
▼ + stars: | 2023-02-20 | by ( ) www.reuters.com time to read: +1 min

SummarySummary Companies FTSE 100 up 0.1%, FTSE 250 adds 0.1%Feb 20 (Reuters) - UK's exporter-heavy FTSE 100 gained on Monday as mining stocks rose on a bet on demand recovery in top consumer China, and retailer Frasers Group jumped after announcing a share buyback. The blue-chip FTSE 100 (.FTSE) gained 0.1% at 8:25 GMT, trading above the 8,000 point mark after breaching a record high last week. Frasers Group (FRAS.L) climbed 3.8% after the sports goods retailer said it intends to commence a new share buyback programme. Miners Rio Tinto (RIO.L) and Anglo American (AAL.L) were amongst top gainers, rising close to 1% each. The more-domestically focussed FTSE 250 midcap index (.FTMC) rose 0.1%Reporting by Shashwat Chauhan in BengaluruOur Standards: The Thomson Reuters Trust Principles.

☆ Retail investor risk appetite improves with AI stocks leading
▼ + stars: | 2023-02-14 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +5 min

Retail investors had a poor year in 2022, with the average portfolio ending the year down around 35% from all-time highs, Vanda Research previously estimated. However, retail investors have shown renewed interest in the early part of 2023. Meanwhile, shares of early meme stocks GameStop (GME.N) and AMC Entertainment (AMC.N) have pared some losses after last year's tumble. "Investor enthusiasm is also attracting short-sellers that are skeptical about some of the resulting valuations," said Evan Niu, an analyst at Ortex, which tracks real-time short interest data. AI software firm Veritone (VERI.O), SoundHound and BigBear.ai also show a pick up in short interest, Ortex data showed.

☆ BTG Pactual joins Brazilian lenders hit by post-Americanas provisions
▼ + stars: | 2023-02-13 | by ( Gabriel Araujo | ) www.reuters.com time to read: +3 min

SAO PAULO, Feb 13 (Reuters) - Banco BTG Pactual SA (BPAC3.SA) on Monday became the latest Brazilian lender to be affected by bad credit provisions due to what it called a "specific, widely publicized event," likely referring to the bankruptcy of Americanas SA (AMER3.SA). BTG reported a quarterly net profit of 1.64 billion reais ($314.5 million), slightly down from 1.74 billion a year earlier and below the market consensus of 2.27 billion, according to analysts polled by Refinitiv. BTG's "good cost discipline" in the quarter helped reduce the impact of the provisions, JPMorgan said. "Despite all the challenges, we expect higher returns in 2023, with greater operating leverage and possibly even higher capital and liquidity levels," BTG Chief Executive Officer Roberto Sallouti said. ($1 = 5.2151 reais)Reporting by Gabriel Araujo; Editing by David Holmes, Kirsten Donovan and Paul SimaoOur Standards: The Thomson Reuters Trust Principles.

☆ Indian shares fall ahead of inflation data; Adani stocks slide
▼ + stars: | 2023-02-13 | by ( ) www.reuters.com time to read: +2 min

BENGALURU, Feb 13 (Reuters) - Indian shares were off to a muted start on Monday, ahead of domestic retail inflation data due later in the day and U.S. inflation data due tomorrow, while the ongoing uncertainty and spillover effects from the Adani Group's market rout continued to create an overhang. Investors await India's retail inflation data for January, due today. A Reuters poll of economists showed that India's annual retail inflation rose from a 12-month low in December, but stayed within the 6% upper limit of RBI's tolerance band in January. India's market regulator is probing the group's links to some of the investors in its scrapped $2.5 billion share sale of the flagship Adani Enterprises. ($1 = 82.5250 Indian rupees)Reporting by Bharath Rajeswaran in Bengaluru; Editing by Janane Venkatraman, Nivedita BhattacharjeeOur Standards: The Thomson Reuters Trust Principles.

☆ This week's best-performing stocks include a pharma name up more than 20%
▼ + stars: | 2023-02-10 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

Wall Street is wrapping up a volatile week, but some stocks still did well despite several macro crosscurrents. Take a look at some of the biggest gainers this week, and where analysts see them going forward. Tesla was one of this week's notable gainers, continuing its post-earnings report rally. Semiconductor manufacturer and IP company Skyworks Solutions also made this week's list of biggest gainers. Several financial stocks also had a strong week, with Everest Re and Fiserv gaining 10.1% and 9.2%, respectively.

☆ European shares hit nine-month high on upbeat cues from Fed's Powell
▼ + stars: | 2023-02-08 | by ( ) www.reuters.com time to read: +1 min

Feb 8 (Reuters) - European shares hit a more-than-nine-month high on Wednesday as investors drew positive cues from Federal Reserve Chair Jerome Powell's remarks overnight, while Linde's and Akzo Nobel's upbeat forecasts led material and chemical stocks higher. The pan-European STOXX 600 (.STOXX) was up 0.6% at 0818 GMT, hitting its strongest level since April 2022. German gas giant Linde and Dutch paints maker Akzo Nobel (AKZO.AS) jumped 2.4% and 6.5%, respectively, after giving higher 2023 earnings forecasts. Finnish refiner Neste (NESTE.HE) jumped 11% and was the top performer on the STOXX 600 on the back of a comparable fourth-quarter core operating results beat. Norwegian energy firm Equinor (EQNR.OL) gained 6.1% following a record $74.9 billion adjusted operating profit for 2022.

His comments renewed investor hopes for less aggressive monetary policy that wavered after a strong U.S. jobs report last Friday. The tech-heavy Nasdaq (.IXIC) rallied on news form Microsoft Corp (MSFT.O), and the S&P 500 (.SPX) also got a boost. Most sectors on the S&P 500 ended higher. So far, more than half of the companies on the S&P 500 have reported quarterly earnings, with 69.1% of them beating expectations, according to Refinitiv. The S&P 500 posted 5 new 52-week highs and 2 new lows; the Nasdaq Composite recorded 90 new highs and 31 new lows.

His comments came after a strong jobs report last week stymied rising hopes of less aggressive monetary policy. The Nasdaq and the S&P 500 fluctuated during and after Powell's remarks. Boosting the tech-heavy Nasdaq (.IXIC) and the S&P 500 (.SPX) was Microsoft Corp (MSFT.O). Six of the top 11 sectors on the S&P 500 fell, but technology (.SPLRCT) was among top gainers, up 1.61%. So far, more than half of the companies on the S&P 500 have reported quarterly earnings, with 69.1% of them beating expectations, according to Refinitiv.

Capping declines on the tech-heavy Nasdaq (.IXIC) was megacap Microsoft Corp (MSFT.O). Seven of the top 11 sectors on the S&P 500 were in declines, but technology (.SPLRCT) was among top gainers propped up by Microsoft. Expectations of high rates for a protracted period dragged Wall Street's main indexes down on Monday. But, all three major averages are in the black for 2023, with the Nasdaq (.IXIC) adding over 13%, led by a revival in battered mega-cap growth stocks. So far, more than half of the companies on the S&P 500 have reported quarterly earnings, with 69.1% of them beating expectations, according to Refinitiv.

☆ ChatGPT is coming for Wall Street next
▼ + stars: | 2023-02-06 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

Insider's Paige Hagy and Bianca Chan asked industry experts how they see a tool like ChatGPT impacting all areas of Wall Street, from investment banking to financial planning to consumer banking. So if your boss pitches you on using ChatGPT to help "streamline your workflow" understand that you could be training your replacement. Click here to read more about the types of jobs ChatGPT might upend across Wall Street. Wall Street trading firm GTS Securities is looking to make investing in music royalties accessible to the general public, Bloomberg reports. Stephanee Beggs made seven figures selling her study materials on TikTok and Etsy, which means she cleared more business than half the bankers on Wall Street.

☆ Saudi Arabian shares drop on lower oil prices; Egypt rises
▼ + stars: | 2023-02-05 | by ( Md Manzer Hussain | ) www.reuters.com time to read: +2 min

Feb 5 (Reuters) - Saudi Arabian stock market closed lower on Sunday, in response to fall in oil prices on Friday amid concern about the European Union embargo on Russian refined products. Meanwhile, Saudi Arabia's Energy Minister warned on Saturday that sanctions and underinvestment in the energy sector could result in a shortage of energy supplies in future. The European Union has imposed a series of sanctions against Russia, reducing Russian energy exports. Saudi oil giant Aramco (2222.SE) sank 1.5%, while the world's largest Islamic bank by market capitalization, Al Rajhi Bank (1120.SE), dropped 1.9%. Qatar's stock index (.QSI) ended down 0.4%, with almost all its constituent stocks in negative territory.

☆ Payrolls increased by 517,000 in January, crushing estimates, as unemployment rate hit 53-year low
▼ + stars: | 2023-02-03 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

The unemployment rate fell to 3.4% vs. the estimate for 3.6%. Nonfarm payrolls increased by 517,000 for January, above the Dow Jones estimate of 187,000 and December's gain of 260,000. However, Chairman Jerome Powell, in his post-meeting news conference, noted the labor market "remains extremely tight" and is still "out of balance." "Today's report is an echo of 2022's surprisingly resilient job market, beating back recession fears," said Daniel Zhao, lead economist for job review site Glassdoor. "The Fed has a New Year's resolution to cool down the labor market, and so far, the labor market is pushing back."

☆ This week's best performers include Meta Platforms and an orthodontics stock
▼ + stars: | 2023-02-03 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

The S & P 500 and Nasdaq Composite are headed for fresh weekly gains, but they haven't come without their fair share of volatility. The S & P 500 tech sector is up 4% week to date, while the communications services sector has rallied 6%. Meta was one of the notable high-performing tech stock this week, jumping 27.5% after posting its earnings results. Another tech stock that saw solid gains this week was AMD , which rose 16% for the week. The company also announced its quarterly results this week, with earnings and revenues coming above what Refinitiv analysts had anticipated.

☆ Mark Zuckerberg is among the top gainers in wealth this year as Meta shares surge on the company's cost-cutting spree
▼ + stars: | 2023-02-02 | by ( Huileng Tan | ) www.businessinsider.com time to read: +2 min

Mark Zuckerberg's net worth is up $11.6 billion this year so far thanks to gains in Meta shares. Meta shares are up over 50% this year after surging 20% in after-hours trade on Wednesday. Meta shares were boosted by the company's announcement that it will continue to cut costs this year. In November, Zuckerberg announced mass layoffs that affected about 13% of its workforce and implemented other cost-cutting measures, like closing offices. Meta shares closed 2.8% higher at $153.12 on Wednesday before strong gains of 20% in after-hours trade.

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.

☆ Indian shares volatile as key Adani stocks arrest slide
▼ + stars: | 2023-01-30 | by ( ) www.reuters.com time to read: +2 min

BENGALURU, Jan 30 (Reuters) - Indian shares were volatile in morning trading on Monday, mirroring financials, ahead of the Union budget, while select Adani Group stocks arrested the recent slide after a short-seller attack on group companies triggered a sell-off over the previous two sessions. The Nifty 50 index (.NSEI) was down 0.36% at 17,540.65 as of 11:03 a.m. IST, while the S&P BSE Sensex (.BSESN) fell 0.29% to 59,156.62. Indian equities had tumbled to a three-month low on Friday, dragged by a short-seller attack on Adani group companies, which triggered a selloff in banks. Investors will also shift focus to India's Union budget on Feb. 1, with the government's fiscal consolidation path and borrowing calendar for fiscal 2024 as triggers. Besides the Union budget, analysts also said rate decisions by global central banks and January automobile sales data would determine the mood in the market.

☆ Gulf stocks rise on hope of slower Fed rate hikes
▼ + stars: | 2023-01-29 | by ( Md Manzer Hussain | ) www.reuters.com time to read: +2 min

Jan 29 (Reuters) - Stock markets in the Gulf ended higher on Sunday after cooling U.S. inflation lifted expectations the Federal Reserve would slow its pace of interest rate hikes. Saudi Arabia's benchmark index (.TASI) rose 0.2%, supported by gains in financial and energy sector stocks. The Qatari Stock index (.QSI) rose 0.4%, with most of its constituent stocks in positive territory. The bank reported Tuesday a more than 22% rise in FY net profit, beating analyst's expectations. Outside the Gulf, Egypt's blue-chip index (.EGX30) surged 3.7%, its highest intraday rise since November.

☆ India's Tata Motors surges 8% on first quarterly profit in 2 years
▼ + stars: | 2023-01-27 | by ( ) www.reuters.com time to read: +2 min

BENGALURU, Jan 27 (Reuters) - Shares of Tata Motors Ltd (TAMO.NS), India's No.3 carmaker by volume, rose as much as 8.2% to a more-than-four-month high on Friday after the company reported its first quarterly profit in two years. Tata Motors swung to a surprise profit of 29.58 billion rupees in the October-December quarter, from a loss of 15.16 billion rupees a year before. Improving semiconductor supplies and rising demand helped Tata Motors' luxury car unit, Jaguar Land Rover (JLR), turn profitable. Goldman rates Tata Motors' stock "neutral", while Nomura rates it "buy", which is also the average rating of the 30 analyst covering the stock, according to Refinitiv data. Bajaj Auto Ltd (BAJA.NS), among India's top motorcycles and three-wheelers maker, also reported a bigger-than-expected quarterly profit due to strong domestic demand and higher prices.

☆ Wall Street sees many of the big winners this week cooling off from here—with one notable exception
▼ + stars: | 2023-01-27 | by ( Hakyung Kim | ) www.cnbc.com time to read: +3 min

The three major averages are heading toward a positive week during a frenzy of fourth-quarter earnings. For instance, Nvidia is on pace to rise more than 13% this week, while Seagate Technology is up more than 17%. Here are the top ten biggest gainers: Western Digital , a semiconductor producer on the list, rose 14.2% this week. It is also one of the few stocks analysts anticipate will continue its rally—it has a target upside of 11%. Out of the big winners this week, analysts are the most optimistic about Tesla.

☆ Costcutter owner Bestway buys Sainsbury's stake
▼ + stars: | 2023-01-27 | by ( James Davey | ) www.reuters.com time to read: +4 min

Sainsbury's shares were up 4.5% on Friday, hitting their highest since April and leading gainers on the FTSE 100 (.FTSE) index. The 3.45% stake makes Bestway Sainsbury's sixth largest investor, Refinitiv Eikon data showed. Asda was purchased by brothers Mohsin and Zuber Issa and private equity company TDR Capital for an enterprise value of 6.8 billion pounds, while Morrisons was bought by U.S. private equity firm Clayton, Dubilier & Rice for 7 billion pounds. Sainsbury's proposed 7.3 billion pounds takeover of Asda was blocked by Britain's competition regulator in 2019. Shares in Sainsbury's closed on Thursday at 239.4 pence, valuing the business at 5.6 billion pounds.

☆ 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.

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