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☆ U.S. SEC to vote on proposals that could overhaul Wall St. trading
▼ + stars: | 2022-12-07 | by ( John Mccrank | ) www.reuters.com time to read: +2 min

"It's about driving greater competition, transparency and efficiency and the marketplace," SEC Chair Gary Gensler said in an interview with Yahoo Finance. Gensler has said he would like to see more order-by-order competition for individuals' stock orders, and for a more even playing field between stock exchanges, which display customer interest, and broker-run venues, which mostly do not. Gensler has criticized this model as limiting competition for retail orders. If the SEC votes to propose the changes, they will be put up for public comment before the regulator votes on whether to adopt them. Reporting by John McCrank; additional reporting by Kanishka Singh; editing by Diane CraftOur Standards: The Thomson Reuters Trust Principles.

☆ S&P posts 4th straight decline as recession talk weighs on Wall Street
▼ + stars: | 2022-12-06 | by ( David French | ) 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. However, technology names generally suffered as investors applied caution toward high-growth companies whose performance would be sluggish in a challenging economy. Most of the 11 major S&P sectors declined, with energy and communications services (.SPLRCL) joining technology (.SPLRCT) as leading laggards. Future economic growth prospects were in focus on Tuesday following comments from financial titans pointing toward uncertain times ahead. The S&P 500 posted three new 52-week highs and nine new lows; the Nasdaq Composite recorded 52 new highs and 262 new lows.

☆ Wall St slides as services data spooks investors about Fed rate hikes
▼ + stars: | 2022-12-05 | by ( David French | ) www.reuters.com time to read: +4 min

Broadly, indexes suffered as data showed U.S. services industry activity unexpectedly picked up in November, with employment rebounding, offering more evidence of underlying momentum in the economy. Investors see an 89% chance that the U.S. central bank will increase interest rates by 50 basis points next week to 4.25%-4.50%, with the rates peaking at 4.984% in May 2023. The rate-setting Federal Open Market Committee meets on Dec. 13-14, the final meeting in a volatile year, which saw the central bank attempt to arrest a multi-decade rise in inflation with record interest rate hikes. "Stock Exchange" is seen over an entrance to the New York Stock Exchange (NYSE) on Wall St. in New York City, U.S., March 29, 2021. Although bank profits are typically boosted by rising interest rates, they are also sensitive to concerns about bad loans or slowing loan growth amid an economic downturn.

S&P 500 stocksAll 11 S&P 500 sector indexes declined, led by real estate (.SPLRCR), down 2.81%, and a 2.74% loss in energy (.SPNY). The S&P 500 declined 1.54% to end the session at 3,963.95 points. With two trading days left in November, the S&P 500 is on track for a gain of 2.4% for the month. Trading was mixed in other heavyweight growth stocks, including Microsoft Corp (MSFT.O), Meta Platforms Inc (META.O), Nvidia Corp (NVDA.O) and Tesla Inc (TSLA.O). The S&P 500 posted 12 new highs and two new lows; the Nasdaq recorded 93 new highs and 174 new lows.

Lawyers for collapsed crypto exchange FTX said in the company's first bankruptcy hearing on Tuesday that regulators from the Bahamas, where FTX was headquartered, have agreed to consolidate proceedings in Delaware. "What we are dealing with is a different sort of animal," said FTX counsel James Bromley. FTX lawyers confirmed earlier reports that the Southern District of New York's Cyber Crimes unit has begun an investigation into the matter. FTX lawyers have also made reference to cyberattacks, suggesting there were multiple attacks beyond the $477 million hack that occurred shortly after the company entered bankruptcy on Nov. 11. FTX customers had a global presence, but many were based in tax havens.

☆ Wall Street slips as concerns rise of stricter China COVID curbs
▼ + stars: | 2022-11-21 | by ( Carolina Mandl | ) www.reuters.com time to read: +4 min

U.S. casino operators with businesses in China including Wynn Resorts Ltd (WYNN.O), Las Vegas Sands Corp (LVS.N), MGM Resorts International (MGM.N) and Melco Resorts & Entertainment Ltd all fell at least 2%. [1/2] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., November 21, 2022. Energy was the only major S&P 500 sector eying gains for the year, surging around 63%. Declining issues outnumbered advancing ones on the NYSE by a 1.27-to-1 ratio; on Nasdaq, a 1.60-to-1 ratio favored decliners. The S&P 500 posted 9 new 52-week highs and 2 new lows; the Nasdaq Composite recorded 96 new highs and 220 new lows.

☆ This week's best performers include several retail stocks and one exchange operator
▼ + stars: | 2022-11-18 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

It hasn't been the best week for the broader market. Several retail stocks bucked the overall market trend, however, on the back of strong quarterly reports. Other retail stocks were also on pace to cap off a positive week. To be sure, not all retailers triumphed during this busy earnings week for the sector. While several retail stocks took top spots in this week's screen, the list offered some variety.

Shares of Target Corp (TGT.N) tumbled 13.1% after the big-box retailer forecast a surprise drop in holiday-quarter sales. The S&P 500 consumer discretionary sector (.SPLRCD) shed 1.5%. The S&P 500 information technology sector (.SPLRCT) fell 1.4% and the Philadelphia SE Semiconductor index (.SOX) sank 4.3%. Elsewhere in retail, shares of Lowe's (LOW.N) rose 3% after the home improvement company raised its annual profit forecast. The S&P 500 posted 3 new 52-week highs and 2 new lows; the Nasdaq Composite recorded 71 new highs and 133 new lows.

- Ray said he had secured $740 million in cryptocurrency, a "fraction" of what he hopes to recover during the bankruptcy. Bankman-Fried and his co-founders failed to identify wallets that might contain FTX assets, he added. - Record keeping was so lax that Ray said he was unable to compile a complete list of FTX employees. - The second silo is Alameda Research LLC, which Ray described as a crypto hedge fund owned by Bankman-Fried and Wang with assets of $13.46 billion. - The other silos were Ventures, which manages private investments and had around $2 billion in assets, and Dotcom, which owned non-U.S. exchanges with $2.25 billion in assets.

☆ U.S. IPO price pops prompt fraud and 'pig butchering' warnings
▼ + stars: | 2022-11-17 | by ( John Mccrank | ) www.reuters.com time to read: +2 min

Some investors harmed by the pump-and-dump schemes appear to be victims of an evolving social media scam called "pig butchering," Finra said. Finra said most of the price spikes it observed involved IPOs of small-cap issuers with operations outside the United States. The IPOs typically raised less than $25 million, valued the firms at under $100 million and issued fewer than 20 million shares. The NYSE and Nasdaq said they were probing the underwriters of the IPOs to ensure they did proper due diligence on registration statements. Reporting by John McCrank; Additional reporting by Lance Tupper; Editing by Josie KaoOur Standards: The Thomson Reuters Trust Principles.

[1/4] The Wall Street entrance to the New York Stock Exchange (NYSE) is seen in New York City, U.S., November 15, 2022. Equities were boosted by Tuesday's inflation report that showed producer prices rising 8% in the 12 months through October against an estimated 8.3% rise. The gains built on a rally that was kicked off late last week by a cooler-than-expected report on consumer prices. "The decline was triggered by reports of a Russian missile landing in Poland," said Steve Sosnick, chief strategist at Interactive Brokers. About 13.1 billion shares changed hands in U.S. exchanges, compared with the 12.2 billion daily average over the last 20 sessions.

☆ Ontario Pension says any loss from FTX investment to have limited impact
▼ + stars: | 2022-11-10 | by ( ) www.reuters.com time to read: 1 min

TORONTO, Nov 10 (Reuters) - The Ontario Teachers Pension Plan (OTPP) said on Thursday it had invested a total of $95 million to the troubled cryptocurrency exchange FTX and any financial loss from the exposure will have limited impact on the pension plan. OTPP, Canada's No. 3 pension fund, said it made the investments in FTX International and FTX U.S. exchange through its Teachers' Venture Growth fund, representing less than 0.05% of the pension fund's total net assets, it said. FTX is scrambling to raise funds investors and rivals as Chief Executive Sam Bankman-Fried urgently seeks to save the cryptocurrency exchange that has been buffeted by a rush of customer withdrawals. read moreReporting by Divya RajagopalOur Standards: The Thomson Reuters Trust Principles.

Meta Platforms Inc (META.O) jumped over 6% following a report that the company was planning to begin large-scale layoffs this week. REUTERS/Brendan McDermid 1 2Unofficially, the S&P 500 climbed 0.96% to end the session at 3,806.90 points. S&P 500 by market capOf the 11 S&P 500 sector indexes, eight rose, led by communication services (.SPLRCL) which was up 1.83%, followed by a 1.73% gain in energy (.SPNY). Advancing issues outnumbered falling ones within the S&P 500 (.AD.SPX) by a 2.8-to-one ratio. The S&P 500 posted 18 new highs and 15 new lows; the Nasdaq recorded 93 new highs and 221 new lows.

☆ Exchange operator Cboe quarterly profit rises on higher trading volumes
▼ + stars: | 2022-11-04 | by ( ) www.reuters.com time to read: +1 min

Nov 4 (Reuters) - Exchange operator Cboe Global Markets Inc (CBOE.Z) reported a rise in its third-quarter earnings on Friday, bolstered by higher clearing fees as trading volumes swelled due to investors rejigging portfolios to hedge against risk from frequent price swings. Its exchanges have also benefited from the resulting price volatility driving up trading volumes across asset classes. Transaction and clearing fees, the largest component of its revenue, rose 13% to $715.5 million. The results round out an upbeat quarter for U.S. exchange operators including Nasdaq Inc (NDAQ.O) and NYSE parent Intercontinental Exchange (ICE.N) who benefited from strong trading volumes and robust demand for hedging tools and investment products. Total revenue in the quarter rose nearly 22% to $993.5 million.

Almost all the funds, some $7.8 billion, flowed between Binance and Iran's largest crypto exchange, Nobitex, according to a review of data from leading U.S. blockchain researcher Chainalysis. The scale of Binance's Iranian crypto flows – and the fact that they are continuing – has not been previously reported. The total volume of Iranian transactions flowing through Binance is far greater than through any other exchange, the data show. The vast majority of the $8 billion in Iranian crypto transactions identified by Reuters involved the main Binance exchange. This October, the Treasury fined Seattle-based crypto exchange Bittrex $24 million for violating sanctions on Iran and other countries by processing crypto transactions worth over $260 million.

☆ Wall St down for fourth straight day on Fed rate hike worry
▼ + stars: | 2022-11-03 | by ( Chuck Mikolajczak | ) www.reuters.com time to read: +4 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., October 14, 2022. read moreWith roughly 80% of S&P 500 companies having reported earnings, the expected growth rate is 4.7%, according to Refinitiv data, up slightly from the 4.5% at the start of October. Declining issues outnumbered advancing ones on the NYSE by a 1.75-to-1 ratio; on Nasdaq, a 1.50-to-1 ratio favored decliners. The S&P 500 posted 6 new 52-week highs and 46 new lows; the Nasdaq Composite recorded 77 new highs and 291 new lows. Reporting by Chuck Mikolajczak in New York Editing by Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

☆ Nearshoring represents 'a lifetime opportunity' to invest in Mexico, BofA says. How to play it
▼ + stars: | 2022-11-02 | by ( Fred Imbert | ) www.cnbc.com time to read: +5 min

This has already led to a manufacturing surge in Mexico and represents "a lifetime opportunity" to invest in Latin America's second-largest economy, according to Bank of America. "Nearshoring represents Mexico's best growth opportunity for the next 10 years and it is already occurring," Bank of America's Capistran said. The EWW is up 1.9% in 2022, easily outperforming the S & P 500. All five of those stocks are outperforming the S & P 500 this year, with FirstCash jumping nearly 30% and Sanmina popping 38%. PriceSmart and Ingredion are down 6.4% and 8.2%, respectively, in 2022, but that's still better than the S & P 500's 19% drop for the year.

☆ Wall St slips as jobs data dents hopes for Fed rate deceleration
▼ + stars: | 2022-11-01 | by ( Chuck Mikolajczak | ) www.reuters.com time to read: +4 min

The sharp focus on labor market data overshadowed another report which showed U.S. manufacturing activity grew at its slowest pace in nearly 2-1/2 years in October as rising rates cool demand for goods and pricing pressures on manufacturers lessened. People are seen on Wall Street outside the New York Stock Exchange (NYSE) in New York City, U.S., March 19, 2021. That also helped boost U.S.-listed shares of Chinese firms such as JD.Com , up 3.08% and Alibaba Group Holding , which gained 3.59%. Advancing issues outnumbered declining ones on the NYSE by a 1.56-to-1 ratio; on Nasdaq, a 1.29-to-1 ratio favored advancers. The S&P 500 posted 24 new 52-week highs and eight new lows; the Nasdaq Composite recorded 120 new highs and 110 new lows.

☆ Wall Street surges to sharply higher close ahead of Fed week
▼ + stars: | 2022-10-28 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

Analysts now see third-quarter S&P 500 earnings growth of 4.1%, up from 2.5% on Thursday, according to Refinitiv data. Of the 11 major sectors of the S&P 500, all but consumer discretionary stocks (.SPLRCD), weighed down by Amazon shares, ended the session green. Third-quarter reporting season has passed the halfway point, with 263 of the companies in the S&P 500 having reported. The S&P 500 posted 32 new 52-week highs and eight new lows; the Nasdaq Composite recorded 117 new highs and 115 new lows. Volume on U.S. exchanges was 11.26 billion shares, compared with the 11.53 billion average over the last 20 trading days.

☆ U.S. Exchange Stocks Lag Behind German Rival
▼ + stars: | 2022-10-27 | by ( Ben Dummett | ) www.wsj.com time to read: 1 min

Surging interest rates are benefiting German exchange operator Deutsche Börse by boosting demand for derivatives tied to borrowing costs and making some of its post-trade services more lucrative. Deutsche Börse’s stock has beaten regional and U.S. competitors this year, generating a total return, including dividends, of almost 15%. The rise puts it among continental Europe’s best-performing large stocks. It compares with declines of more than 13% for Nasdaq Inc. and more than 30% for New York Stock Exchange owner Intercontinental Exchange Inc.

☆ S&P 500, Nasdaq slide, while Dow ends higher on mixed earnings picture
▼ + stars: | 2022-10-27 | by ( Stephen Culp | ) www.reuters.com time to read: +5 min

That sent S&P 500 futures down 0.5% and Nasdaq futures down 0.6%, showing traders expect Wall Street to open lower on Friday. Among the 11 major sectors of the S&P 500, industrials had the biggest percentage gain, with communication services (.SPLRCL), weighed by Meta, down the most. Third-quarter reporting season forges ahead at full speed, with 227 of the companies in the S&P 500 having reported. Shares of Southwest Airlines Co (LUV.N) rose 2.7% after the carrier's quarterly profit topped consensus estimates. The S&P 500 posted 23 new 52-week highs and 12 new lows; the Nasdaq Composite recorded 93 new highs and 119 new lows.

LONDON, Oct 21 (Reuters) - It's not the first time the 145-year-old London Metal Exchange (LME) has found itself in crisis. Register now for FREE unlimited access to Reuters.com RegisterMarch brought Nickel Crisis II, a much scarier update of the original, and now we have the unfolding Russian Metal Crisis. It's perilous legal territory and would have a significant impact on LME price and physical premiums. Meanwhile, CME's (CME.O) cobalt contract has steadily built up liquidity since its end-2020 launch even as activity in the LME's contract has steadily dwindled. Disgruntled funds have already voted with their feet, the collective departure causing LME trading volumes to slide by 6% over the first nine months of this year.

☆ Wall Street ends higher as hopes for less aggressive Fed grow
▼ + stars: | 2022-10-21 | by ( Chuck Mikolajczak | ) www.reuters.com time to read: +4 min

Analysts widely expect the Fed to hike rates by 75 basis points for a fourth straight meeting in November. For the week, the S&P 500 climbed 4.74%, the Dow gained 4.89% and the Nasdaq rose 5.22%. Schlumberger (SLB.N) shot up 10.33% to help to lift the S&P 500 energy sector (.SPNY) 2.76% after reporting a quarterly profit above expectations. Advancing issues outnumbered declining ones on the NYSE by a 2.59-to-1 ratio; on Nasdaq, a 2.03-to-1 ratio favored advancers. The S&P 500 posted 9 new 52-week highs and 32 new lows; the Nasdaq Composite recorded 60 new highs and 322 new lows.

☆ Wall Street ends lower as Fed worries outweigh earnings
▼ + stars: | 2022-10-20 | by ( Chuck Mikolajczak | ) www.reuters.com time to read: +4 min

The New York Stock Exchange building is seen from Broad Street in Lower Manhattan in New York, January 20, 2016. But stocks were unable to hold their gains as strong weekly jobless claims and comments from Federal Reserve Bank of Philadelphia President Patrick Harker bolstered concerns about the Fed hiking rates and potentially tilting the economy into a recession. Better-than-expected results thus far has pushed earnings growth expectations for third-quarter for S&P 500 companies to 3.1% from a 2.8% increase earlier in the week, but still well below the 11.1% increase that was forecast at the start of July. Other data showed sales of existing homes fell for an eight straight month, while another reading showed factory activity in the Federal Reserve Bank of Philadelphia's district contracted again in October. The S&P 500 posted 3 new 52-week highs and 28 new lows; the Nasdaq Composite recorded 53 new highs and 239 new lows.

☆ Choppy markets likely to boost profit for U.S. exchange operators
▼ + stars: | 2022-10-18 | by ( Manya Saini | ) www.reuters.com time to read: +2 min

Oct 18 (Reuters) - Heightened market volatility could prove to be a boon for U.S. exchange operators as higher trading volumes during their third quarter help offset a hit from fewer stock listings so far this year. "Counter-cyclical nature of exchange business models reduces their downside risk during market turmoil relative to peer financial sector companies and the broader market," said Gautam Sawant, CFA, Credit Suisse. Register now for FREE unlimited access to Reuters.com Register"Exchanges remain well-positioned to grow earnings into 2023." Besides the mainstay trading business, exchange operators offer a suite of tools for investors. New York Stock Exchange-owner Intercontinental Exchange Inc (<ICE.N>) provides mortgage servicing through Ellie Mae, while rival Nasdaq Inc offers indexes and analytics.

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