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☆ Stock futures are little changed as Wall Street narrows focus on major inflation report: Live updates
▼ + stars: | 2023-07-11 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

U.S. stock futures were close to flat Tuesday night as investors looked toward the first potentially pivotal inflation report slated for release this week. S&P 500 futures and Nasdaq 100 futures traded near flat. Investors are eyeing the June consumer price index reading due before the bell Wednesday. June data for the producer price index — another well-watched gauge of inflation — is due Thursday before the bell. Elsewhere, investors will monitor comments from central bank officials including Richmond Fed President Tom Barkin, Minneapolis Fed President Neel Kashkari, Atlanta Fed President Raphael Bostic and Cleveland Fed President Loretta Mester throughout Wednesday for any insights into the state of U.S. economic policy.

Persons: Dow Jones, CME's, Chris Zaccarelli, that's, Stocks, Tom Barkin, Neel Kashkari, Raphael Bostic, Loretta Mester Organizations: Dow Jones Industrial, Nasdaq, Federal Reserve, Index, Independent, Alliance, Dow, Richmond Fed, Atlanta Fed, Cleveland Fed Locations: Minneapolis, U.S

"But at the same time, it just puts the Fed in a position where they've got more work to do." Wall Street's main indexes ended sharply lower in a broad selloff in the previous session, with the benchmark S&P 500 posting its biggest daily percentage drop in six weeks, after employment data on Thursday showed the number of jobs more than doubled in June. Six of the 11 major S&P 500 sectors advanced in mid-day trading, with commodity stocks such as energy (.SPNY) and materials (.SPLRCM) up over 1% each and outperforming the broader market. Among other movers, the S&P 500 banking index (.SPXBK) gained 1.4%. The S&P index recorded three new 52-week highs and four new lows, while the Nasdaq recorded 28 new highs and 49 new lows.

Persons: Levi Strauss, we're, Steve Wyett, they've, Austan Goolsbee, Russell, Wells, Tesla, Bansari Mayur Kamdar, Johann M, Caroline Valetkevitch, Shinjini Organizations: Dow, Nasdaq, BOK, Traders, Chicago Fed, Dow Jones, JPMorgan Chase, Citigroup, Alibaba, Ant Group, NYSE, Thomson Locations: Beijing, Washington, China, Bengaluru

"Today's numbers confirm the job market is still strong... and this report gives the green light to the Fed to raise rates," said Peter Cardillo, chief market economist at Spartan Capital Securities. Five out of the 11 major S&P 500 sectors declined in early trading on Thursday. Wall Street's main indexes ended sharply lower in a broad selloff, with the benchmark S&P 500 posting its biggest daily percentage drop in six weeks. Among other early movers, the S&P 500 banking index (.SPXBK) gained 1%. The S&P index recorded one new 52-week highs and three new lows, while the Nasdaq recorded 13 new highs and 22 new lows.

Persons: Levi Strauss, Dow, Peter Cardillo, we're, Wells, Tesla, Bansari Mayur Kamdar, Johann M, Caroline Valetkevitch, Shinjini Organizations: Nasdaq, Fed, Spartan Capital Securities, Traders, Dow Jones, JPMorgan Chase, Citigroup, Alibaba, Ant Group, NYSE, Thomson Locations: Beijing, Washington, China, Bengaluru

Private payrolls surged far more than expected in June, data showed, suggesting the labor market remained solid despite growing risks of a recession. “We don’t see any softening in the labor market,” said Brad McMillan, chief investment officer for Commonwealth Financial Network. All 11 S&P 500 sectors ended down. U.S. interest rate futures saw an increased probability of another rate hike by the Federal Reserve in November, according to CME's FedWatch. Second-quarter corporate reports will arrive in coming weeks with S&P 500 earnings expected to fall 5.7% from a year-ago, according to Refinitiv data.

Persons: payrolls, ”, Brad McMillan, CME's, Lorie Logan, Lip, judge's, Lewis Krauskopf, Bansari Mayur Kamdar, Johann M, Vinay Dwivedi, Shinjini Ganguli, David Gregorio Our Organizations: Energy, Exxon, Dow, Nasdaq, Reserve, Commonwealth Financial Network, Dow Jones, Microsoft, Apple, Treasury, Federal Reserve, Fed, Dallas, Exxon Mobil Corp, Wealth Management, JetBlue Airways, American Airlines, Spirit Airlines, NYSE, Thomson Locations: U.S, New York, Bengaluru

Private payrolls surged far more than expected in June, data showed, suggesting the labor market remained on solid ground despite growing risks of a recession. “We don’t see any softening in the labor market,” said Brad McMillan, chief investment officer for Commonwealth Financial Network. Treasury yields jumped following the labor market data. The benchmark 10-year yield burst above 4% while the two-year Treasury yield, which typically moves in step with interest rate expectations, hit a 16-year high. U.S. interest rate futures saw an increased probability of another rate hike by the Federal Reserve in November, according to CME's FedWatch.

Persons: payrolls, ”, Brad McMillan, CME's, Lorie Logan, Lip, judge's, Lewis Krauskopf, Bansari Mayur Kamdar, Johann M, Vinay Dwivedi, Shinjini Ganguli, David Gregorio Our Organizations: Energy, Exxon, Reserve, Commonwealth Financial Network, Nasdaq, Dow Jones, Treasury, Federal Reserve, Fed, Dallas, Exxon Mobil Corp, Wealth Management, JetBlue Airways, American Airlines, Spirit Airlines, Thomson Locations: U.S, New York, Bengaluru

Private payrolls increased more than expected in June, the ADP National Employment report showed, indicating the labor market remained strong despite growing risks of a recession from higher interest rates. Another survey showed the number of Americans filing new claims for unemployment benefits increased moderately last week. "The Fed has been hopeful to see a modest deterioration in the labor market," said Randy Frederick, managing director of trading and derivatives for Charles Schwab. "But since the ADP number was almost twice of what was expected, it generally implies there's potential for more rate hikes going forward." Reporting by Bansari Mayur Kamdar and Johann M Cherian in Bengaluru Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

Persons: payrolls, Randy Frederick, Charles Schwab, Lorie Logan, Janet Yellen, judge's, Bansari Mayur Kamdar, Johann M, Vinay Dwivedi Organizations: Exxon, Dow, ADP, Dallas, Twitter, Dow Jones, Nasdaq, Institute for Supply, Qualcomm, Intel, Treasury, Exxon Mobil, JetBlue Airways, American Airlines, Spirit Airlines, NYSE, Thomson Locations: ., Beijing, Washington, China, U.S, Bengaluru

☆ 3 of our stocks get price target hikes on Wall Street — one of them is a really big call
▼ + stars: | 2023-07-06 | by ( Morgan Chittum | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. Watch GEHC and Danaher Evercore ISI bumped up its GE Healthcare (GEHC) price target to $92 from $90 and kept its outperform rating. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Stocks, Meta, Microsoft Keybanc, Morgan Stanley, Danaher, Jim Cramer's, Jim Organizations: CNBC, Microsoft, GE Healthcare, ISI Locations: U.S, There's

☆ Europe stocks open mixed as investors await data releases
▼ + stars: | 2023-07-04 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

European markets opened mixed on Tuesday, with investors in a cautious mood ahead of data releases and the start of second-quarter earnings season. Data is also due on U.K. average mortgage rates. The U.S. Federal Reserve will release the minutes of its last meeting Wednesday, after Chairman Jerome Powell said there was "more restriction coming." Markets are currently pricing in an 89.9% likelihood of a 25-basis-point hike in interest rates July, according to CME's FedWatch tool. It comes as central bankers and leading economists warn markets not to expect interest rate cuts too fast or too soon.

Persons: Banks, Jerome Powell Organizations: U.S . Federal

☆ Gold listless as investors wait for Fed's June meeting minutes
▼ + stars: | 2023-07-04 | by ( ) www.cnbc.com time to read: +2 min

Bars of gold are seen at Krastsvetmet, one of the world's largest producers of precious metals, in Moscow, January 31, 2023. Spot gold was little changed at $1,921.39 per ounce by 0241 GMT, while U.S. gold futures were flat at $1,929.10. High interest rates discourage investment in non-yielding gold. Markets will also watch for minutes of the June 13 to14 FOMC meeting being released on Wednesday. While gold prices could recover to $1,940 before a potential drop lower, "the rates background remains a significant drag," Frappell added.

Persons: Nicholas Frappell, Frappell, Masato Kanda Organizations: U.S, ABC Refinery, Investors, Reserve Bank of Locations: Moscow, U.S, U.S . Federal

☆ Top 10 things to watch Monday in the stock market's holiday-shortened week
▼ + stars: | 2023-07-03 | by ( Matthew J. Belvedere | ) www.cnbc.com time to read: +4 min

The U.S. stock market closes early at 1 p.m. As we set the table for the second of this year's hated bull market, Jim Cramer looked back at the incredible first six months of 2023. The Dow rose 3.4% in the second quarter and 3.8% for the year. The S & P 500 gained 8.3% in the second quarter and nearly 16% in 2023. But it was the Nasdaq that outshined them all — soaring nearly 13% in the second quarter and almost 32% year to date.

Persons: Jim Cramer, Estee Lauder, Scott Kirby, Wells Fargo, Indiana Jones, Harrison, Jim Cramer's, Jim Organizations: Nasdaq, Independence, Tesla, ADP, Fed, Dow, Apple, Financial, Nvidia, Club, Ford, United Airlines, Constellation Brands, JPMorgan, BMO Capital, Corona, Modelo, Disney, Variety, Harrison Ford, Jim Cramer's Charitable, CNBC Locations: U.S, New Jersey, Wells

☆ S&P 500 ends higher, Treasury yields touch three-month high on solid US economic data
▼ + stars: | 2023-06-29 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

[1/3] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., June 29, 2023. Financials (.SPSY) led the gainers after the Federal Reserve's stress test showed U.S. lenders have adequate capital to weather an economic storm. Treasury yields rose, with 10-year yields touching their highest level since early March after economic reports painted a picture of a solid U.S. economy, promoting the "higher for longer" scenario with respect to restrictive monetary policy. The dollar touched a two-week high against a basket of world currencies as upbeat economic data provided cushion to the Fed to continue raising rates. Oil prices posted modest gains as the solid economic data suggested strong demand and a steeper-than-expected drop in U.S. crude inventories.

Persons: Brendan McDermid, Russell, Michael Green, Joseph Sroka, Brent, Stephen Culp, Marc Jones, Susan Fenton, Deepa Babington Organizations: New York Stock Exchange, REUTERS, Treasury, Fed, Dow, Nasdaq, Management, Dow Jones, Reuters Graphics Reuters, Japan's Nikkei, Thomson Locations: New York City, U.S, Philadelphia, Atlanta, Spain, Asia, Pacific, Japan, London

☆ Dollar index hits two-week high after data; yen remains soft
▼ + stars: | 2023-06-29 | by ( ) www.cnbc.com time to read: +3 min

Hundred dollar bills are seen in this photo illustraiton in Warsaw, Poland on Sept. 21, 2022. The U.S. dollar index climbed to a two-week high on Thursday after economic data showed the labor market remained on a solid footing, giving the Federal Reserve a possible cushion to continue raising interest rates. He said he did not see inflation coming down to the Fed's 2% target until at least 2025. The dollar index was up 0.204% at 103.150 after earlier climbing to 103.44, its highest level since June 13. The dollar strengthened against the Japanese yen for a third straight day, hitting a fresh 7-1/2 month high of 144.90, as U.S. and Japanese central bank policy plans are expected to remain at opposite ends of the spectrum.

Persons: Jerome Powell, Raphael Bostic, Christine Lagarde, Andrew Bailey, Kazuo Ueda, Huw Roberts, Roberts, CME's Organizations: U.S, Federal Reserve, Reuters, Commerce Department, European Central Bank, Atlanta Federal Reserve, Bank of England, Bank of Japan, Fed Locations: Warsaw, Poland, Bank, Europe, Spain, Italy, Swedish

☆ Gold hovers near mid-March low on dollar strength, hawkish Fed
▼ + stars: | 2023-06-29 | by ( ) www.cnbc.com time to read: +1 min

Gold prices lingered near a Mid-March low on Thursday, dragged down by a stronger dollar and hawkish comments from U.S. Federal Reserve Chair Jerome Powell. Spot gold fell 0.1% to $1,906.17 per ounce, near a mid-March low hit on Wednesday. Powell's hawkish remarks reinforced interest rates going higher for longer, with a higher opportunity cost of holding gold dimming the appeal of gold, said OCBC FX strategist Christopher Wong. Powell suggested another two rate hikes to the Fed funds target rate were likely, and he did not see inflation abating to the 2% target until 2025. Asian shares were subdued on the premise of higher interest rates, while the Japanese yen and the Chinese yuan struggled to lift from lows amid fears of official intervention.

Persons: Jerome Powell, Christopher Wong, Powell Organizations: Aurum, U.S . Federal, Reuters Locations: Munich, U.S, .

☆ Gold steadies near three-month lows; focus shifts to Powell
▼ + stars: | 2023-06-28 | by ( ) www.cnbc.com time to read: +2 min

Gold held near three-month lows on Wednesday after strong U.S. economic readings offset the bullion's traditional safe-haven status, while traders positioned for Federal Reserve Chair Jerome Powell's speech and more data for clues on rate hikes. Spot gold rose 0.1% to $1,915.45 per ounce by 0524 GMT, hovering close to its lowest level since March 16 at $1,910. Data on Tuesday indicating that the economy remained on solid footing could lead to more Fed rate hikes to bring down inflation. Powell will speak at a policy panel on Wednesday before the European Central Bank Forum on Central Banking in Sintra along with other central bank members. Spot silver rose 0.2% to $22.93 per ounce, platinum fell 0.9% to $916.83 while palladium dropped 1.1% to $1,281.48.

Persons: Gold, Jerome Powell's, Matt Simpson, Simpson, Powell, Tim Waterer Organizations: Federal, City, Open, Committee, European Central Bank, Central Banking, KCM Locations: U.S, Sintra

☆ Wall Street rallies, dollar softens after solid economic data
▼ + stars: | 2023-06-27 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

REUTERS/Brendan McDermidNEW YORK, June 27 (Reuters) - U.S. stocks moved sharply higher in a broad rally on Tuesday, and the dollar softened as robust economic data eased recession fears and stoked investors' risk appetite. "The economic data today was particularly strong," said Thomas Martin, senior portfolio manager at GLOBALT Investments in Atlanta. Emerging market stocks rose 0.58%. U.S. Treasury yields edged higher as solid economic data calmed recession jitters. Crude prices slid after U.S. economic indicators surprised to the upside, ahead of energy demand data expected later in the session.

Persons: Brendan McDermid, Thomas Martin, Martin, Jerome Powell's, Christine Lagarde, Lagarde, Brent, Stephen Culp, Elizabeth Howcroft, Chizu Nomiyama, Deepa Babington Organizations: New York Stock Exchange, REUTERS, Nasdaq, U.S, GLOBALT Investments, Financial, European Central Bank, ECB, Dow Jones, Japan's Nikkei, Treasury, Thomson Locations: New York City, U.S, Atlanta, China, Asia, Pacific, Japan, London

☆ Gold prices edge higher as tepid dollar lifts appeal
▼ + stars: | 2023-06-26 | by ( ) www.cnbc.com time to read: +2 min

Gold prices edged higher on a weaker dollar, although bullion hovered close to three-month lows as traders assessed prospects that more interest rate hikes by the U.S. Federal Reserve were in the offing. Spot gold rose 0.2% to $1,925.78 per ounce by 0341 GMT. Bullion slumped nearly 2% in the previous week as hawkish comments from Fed officials suggested more rate hikes to bring down sticky inflation. Higher interest rates make non-yielding gold less appealing. San Francisco Fed Bank President Mary Daly said on Friday two more rate hikes this year are a "very reasonable" projection.

Persons: Bullion, Christopher Wong, Mary Daly, Wong Organizations: U.S . Federal, San Francisco Fed Bank, P Global Locations: Moscow, Russia

☆ Wall Street ends down, snaps weekly winning streak on Fed worries
▼ + stars: | 2023-06-23 | by ( Stephen Culp | ) www.reuters.com time to read: +3 min

With few market-moving catalysts this week aside from Powell's congressional testimony, all three indexes notched weekly losses, ending a weeks-long rally. The Nasdaq snapped its eight-week winning streak, its longest since March 2019, while the S&P 500 (.SPX) broke its five-week rally, its longest since November 2021. The S&P 500 and the Nasdaq logged their biggest Friday-to-Friday percentage drops since early March, when the regional banking liquidity crisis hit. "You can probably count on a rate hike next month, but it's that second hike that the markets are skeptical of," Mayfield added. According to preliminary data, the S&P 500 (.SPX) lost 33.48 points, or 0.76%, to end at 4,348.41 points, while the Nasdaq Composite (.IXIC) lost 138.09 points, or 1.01%, to 13,492.52.

Persons: Jerome Powell's, Ross Mayfield, Mary Daly, Tom Barkin, Mayfield, Russell, Stephen Culp, Shubham Batra, Shristi, Richard Chang Organizations: YORK, Federal, Nasdaq, Baird, Francisco Fed Bank, Reuters, Atlanta Fed, Financial, Dow Jones, Carmax Inc, Starbucks Corp, Thomson Locations: Louisville , Kentucky, Bengaluru

☆ Wall Street extends sell-off as Powell hints at further rate hikes
▼ + stars: | 2023-06-21 | by ( Stephen Culp | ) www.reuters.com time to read: +3 min

All three major U.S. stock indexes notched their third straight daily declines, with megacap tech- and tech-related shares weighing most. Tesla Inc (TSLA.O), along AI-related stocks such as Microsoft Corp (MSFT.O) and Nvidia Corp (NVDA.O) were the heaviest drags. "There could be one more rate hike, but I don’t think anyone's buying the fact that there will be two. "A big portion of today’s weakness is because Tesla had one of its worst days in a while," Detrick added. "After a record win streak some kind of weakness is perfectly acceptable and normal."

Persons: Tesla, Jerome, Ryan Detrick, Powell, Detrick, Stephen Culp, Shubham Batra, Johann M Cherian, Ankika Biswas, Aurora Ellis Organizations: FedEx, Barclays, NEW, Federal, Carson Group, Tesla, Microsoft Corp, Nvidia Corp, . House Financial Services, Nasdaq, Dow Jones, Tesla Inc, United Parcel Service Inc, Thomson Locations: Omaha, Bengaluru

☆ Gold rises as dollar weakens ahead of Fed decision
▼ + stars: | 2023-06-14 | by ( ) www.cnbc.com time to read: +2 min

Gold prices edged higher on Wednesday, helped by a softer dollar as slowing U.S. inflation cemented bets that the Federal Reserve would keep interest rates unchanged later in the day. Spot gold rose 0.3% to $1,948.49 per ounce by 05:00 GMT. Markets are pricing in a roughly 90% chance of the Fed keeping rates unchanged, according to CME's Fedwatch tool. While gold is seen as a hedge against inflation, higher rates to tame price pressures generally weigh on the non-yielding asset's appeal. Spot silver climbed 0.7% to $23.8439 per ounce, platinum rose 0.3% to $979.37, while palladium was flat at $1,361.01.

Persons: Clifford Bennett, " Bennett, Nicholas Frappell Organizations: Federal Reserve, U.S, ACY Securities, Fed, ABC Refinery Locations: Siberian, Krasnoyarsk, Russia, U.S

☆ It's Fed Day. Here's what markets are eyeing as Powell gets ready to speak.
▼ + stars: | 2023-06-14 | by ( Max Adams | ) www.businessinsider.com time to read: +5 min

The Federal Reserve is set to announce a critical policy decision today — hike (possibly), pause (likely), or cut (probably not). The Fed has made 10 consecutive rate hikes leading up to today, making for one of its most aggressive tightening campaigns ever. Tuesday's cooler-than-expected inflation data is still double the Fed's 2% target, which suggests there could be more hawkishness ahead. Meanwhile, Wharton professor Jeremy Siegel suggested in a separate note that the Fed may actually be done with policy tightening altogether. He explained that, since he doesn't see a recession, the stock market could actually rally higher across all sectors because of investor FOMO.

Persons: Jerome Powell, David Bahnsen, Mohamed El, —, Christopher Waller, Wharton, Jeremy Siegel, Powell, Goldman Sachs, David Solomon, Tom Lee, FOMO, Read, Warren Buffett's, they're, Qatar's Sheikh Jassim, Jim Ratcliffe, Max Adams, Hallam Bullock, Nathan Rennolds Organizations: Federal, Reuters, Bahnsen, Reserve, Spar Group, Capital Economics, Berkshire Hathaway, Manchester United Locations: New York, London

The small-cap index Russell 2000 (.RUT) ticked higher as investors kept moving away from megagap and growth stocks after their strong gains. Recently, U.S. shares have been boosted by a megacap stocks rally and a stronger-than-expected earnings season, with the S&P 500 (.SPX) up almost 20% from its October 2022 lows. Wells Fargo raised the price target on Netflix (NFLX.O) shares to $500 from $400, the highest on Wall Street, according to Refinitiv. Energy index (.SPNY) rose after oil prices edged higher, while the KBW Regional Banking Index (.KRX) hit a two-month high. According to preliminary data, the S&P 500 (.SPX) lost 16.31 points, or 0.38%, to end at 4,267.54 points, while the Nasdaq Composite (.IXIC) lost 170.59 points, or 1.28%, to 13,105.83.

Persons: Wells, Russell, we've, Paul Baiocchi, jitters, Wells Fargo, Campbell, Shubham Batra, Shristi, Vinay Dwivedi, Richard Chang, David Gregorio Our Organizations: Netflix, Nasdaq, SS, C ALPS Advisors, Treasury, Bank of Canada, Federal, Dow Jones, Yext, U.S . Securities, Exchange Commission, SEC, Invest, Thomson Locations: megagap, U.S, KBW, York, Coinbase, Bengaluru

☆ Futures inch lower on Fed policy caution, China data hits sentiment
▼ + stars: | 2023-06-07 | by ( ) www.reuters.com time to read: +3 min

Summary Futures down: Nasdaq 0.16%, Dow 0.13%, S&P 0.08%June 7 (Reuters) - U.S. stock index futures edged lower on Wednesday as investors remained cautious ahead of inflation data and the Federal Reserve's policy meeting next week, while worse-than-expected China exports data for May hit sentiment. U.S. shares have also been boosted by a rally in megacap stocks and a stronger-than-expected earnings season. However, some analysts say that profit-taking may be round the corner for big tech and other major growth stocks. ET, Dow e-minis were down 43 points, or 0.13%, S&P 500 e-minis were down 3.5 points, or 0.08%, and Nasdaq 100 e-minis were down 23.25 points, or 0.16%. Shares of Yext Inc jumped 18.4% premarket after the New York-based online marketing firm raised its annual earnings forecast.

Persons: Charalampos Pissouros, Wells Fargo, Shubham Batra, Vinay Dwivedi Organizations: Dow, Nasdaq, XM, Dow e, Netflix, Securities and Exchange Commission, Invest, Yext Inc, Thomson Locations: China, U.S, Coinbase, York, Bengaluru

☆ Stocks gain, dollar stumbles as US averts default and Fed skip bets rise
▼ + stars: | 2023-06-02 | by ( Alun John | ) www.reuters.com time to read: +5 min

Markets are now focused on U.S. jobs data due at 0830 EST (1230 GMT), the most significant macroeconomic release of the week, for more cues on the Federal Reserve's rate hike path. European mining stocks (.SXPP) increased 4.4%, boosted by a Bloomberg report China is working on new measures to support its property market. Copper prices were heading for their first weekly gain since April with other metals trading higher too. Spot gold was up marginally at $1,979 an ounce, but set for its biggest weekly gain in nearly two months, as a softer dollar and lower yields bolstered the bullion's appeal. Reporting by Ankur Banerjee; Editing by Lincoln Feast, Kim Coghill, Sriraj Kalluvila and Andrew HeavensOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid LONDON, Jefferson, Jeff Schulze, payrolls, Philip Jefferson, Joe Biden, Phil Shucksmith, We've, Brent, Ankur Banerjee, Lincoln, Kim Coghill, Sriraj Kalluvila, Andrew Heavens Organizations: New York Stock Exchange, REUTERS, U.S, Labor, U.S . Senate, Bloomberg, Asia Pacific, Japan's Nikkei, Nasdaq, Senate, Newton Investment, Investors, U.S . Treasury, European Central Bank, ECB, Thomson Locations: New York City, U.S, China, Japan

☆ Oil ticks up as markets weigh U.S. debt deal, rate hike possibility
▼ + stars: | 2023-05-29 | by ( Arathy Somasekhar | ) www.reuters.com time to read: +3 min

"The euphoria of the debt deal is wearing off as concern mounts for another rate hike by the Fed in June," brokerage Liquidity Energy LLC wrote in a note. U.S. President Joe Biden and House of Representatives Speaker Kevin McCarthy over the weekend forged an agreement to suspend the $31.4 trillion debt ceiling and cap government spending for the next two years. Still, analysts saw any boost in oil prices from it as short-lived. "Higher U.S. rates are a headwind for crude oil demand," IG Sydney-based analyst Tony Sycamore said. The dollar also nudged down on Monday as the debt ceiling deal lifted risk appetite in world markets and dented the greenback's safe-haven appeal.

☆ Oil dips as rate hike fears offset U.S. debt deal
▼ + stars: | 2023-05-29 | by ( Arathy Somasekhar | ) www.reuters.com time to read: +2 min

HOUSTON, May 29 (Reuters) - Oil prices slipped on Monday as worries over further interest rate hikes that could curb energy demand trumped a tentative U.S. debt ceiling deal, possibly averting a default in the world's top oil consumer. "The euphoria of the debt deal is wearing off as concern mounts for another rate hike by the Fed in June," brokerage Liquidity Energy LLC wrote in a note. Still, analysts saw any boost in oil prices from the debt deal as short-lived, with earlier gains in the session now lost. "Higher U.S. rates are a headwind for crude oil demand," IG Sydney-based analyst Tony Sycamore said. However, comments from Russian oil officials and sources, including Deputy Prime Minister Alexander Novak, indicate the world's third-largest oil producer is leaning towards leaving output unchanged.

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