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☆ Wall Street gains as solid GDP data offsets signs of economic weakness
▼ + 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. Among the 11 major sectors of the S&P 500, energy (.SPNY) led the percentage gainers, boosted by rising crude prices due to signs of increasing demand from China. Tesla Inc (TSLA.O) provided the most upside muscle to the S&P 500 and the Nasdaq, its shares jumping 9.4% in the wake of its earnings report.

☆ S&P 500 closes slightly red as weak corporate guidance fuels recession fears
▼ + stars: | 2023-01-25 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

Fourth-quarter earnings season has shifted into overdrive, with 95 of the companies in the S&P 500 having reported. Analysts now see aggregate S&P 500 earnings dropping 3.0% year-on-year, nearly double the 1.6% drop seen on Jan. 1, per Refinitiv. Five of the 11 major sectors of the S&P 500 ended lower, with utilities (.SPLRCU) suffering the largest percentage loss. General Dynamics Corp (GD.N) beat quarterly expectations, but a weak 2023 forecast helped send the defense contractor's shares sliding 3.6%. The S&P 500 posted 8 new 52-week highs and 1 new lows; the Nasdaq Composite recorded 61 new highs and 30 new lows.

☆ Wall Street dips as weak corporate guidance fuels recession fears
▼ + stars: | 2023-01-25 | by ( Stephen Culp | ) www.reuters.com time to read: +3 min

Fourth-quarter earnings season has shifted into overdrive, with 95 of the companies in the S&P 500 having reported. Analysts now see aggregate S&P 500 earnings dropping 3.0% year-on-year, nearly double the 1.6% drop seen on Jan. 1, per Refinitiv. Most of the 11 sectors of the S&P 500 were red, utilities (.SPLRCU) suffering the largest percentage loss. General Dynamics Corp (GD.N) beat quarterly expectations, but a weak 2023 forecast helped send the defense contractor's shares sliding 3.2%. The S&P 500 posted 6 new 52-week highs and 1 new lows; the Nasdaq Composite recorded 52 new highs and 26 new lows.

☆ Indian shares hit over 1-wk low; Adani group stocks fall
▼ + stars: | 2023-01-25 | by ( Rama Venkat | ) www.reuters.com time to read: +2 min

BENGALURU, Jan 25 (Reuters) - Indian stocks hit an over-one-week low in volatile trading on Wednesday, ahead of the monthly expiry of derivatives and the federal budget. The Nifty 50 index (.NSEI) was down 1% at 17,936.25 as of 11:17 a.m. IST, while the S&P BSE Sensex (.BSESN) fell 0.96% to 60,394.36. Nifty's volatility index (.NIFVIX) climbed as much as 8.5% to 14.815 after hovering around the 14 mark for over a month. Auto stocks (.NIFTYAUTO) shed early gains to trade 0.2% lower, with Maruti Suzuki (MRTI.NS) and Bajaj Auto (BAJA.NS) the only gainers on the index. Maruti was up 0.8% on strong third-quarter earnings, while Bajaj Auto rose 0.3%.

All of the 11 major S&P 500 sector indexes were up by early afternoon trading, with a 2.5% rise in tech stocks (.SPLRCT) making them the biggest gainers. "All those names and sectors (chipmakers) in general just got beat up much more than the market in general overall. So now in a lot of those names, there's value," said Jimmy Lee, chief executive officer of Wealth Consulting Group. Xylem Inc (XYL.N) dropped 8.74% on its acquisition of water treatment solutions firm Evoqua Water Technologies Corp (AQUA.N) in a $7.42 billion deal. Advancing issues outnumbered decliners by a 3.40-to-1 ratio on the NYSE and by a 1.90-to-1 ratio on the Nasdaq.

☆ Wall Street rises as chipmakers lead tech shares higher
▼ + stars: | 2023-01-23 | by ( Shreyashi Sanyal | ) www.reuters.com time to read: +3 min

Six of the 11 major S&P 500 sector indexes were up in early trading, with a 1.3% rise in tech stocks (.SPLRCT) making them the biggest gainers. "All those names and sectors (chipmakers) in general just got beat up much more than the market in general overall. Analysts now expect fourth-quarter earnings from S&P 500 companies to fall 2.9%, according to IBES Refinitiv data, compared with a 1.6% drop at the beginning of the year. Investors are also awaiting January manufacturing and fourth-quarter GDP data to assess the impact of the Fed's rate hikes on the economy. Advancing issues outnumbered decliners by a 2.05-to-1 ratio on the NYSE and by a 1.60-to-1 ratio on the Nasdaq.

☆ This week's best performers include Tesla and this bank stock
▼ + stars: | 2023-01-20 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Financial stocks and some beaten-up technology stocks staged a rally this week even as the major averages headed for a week of losses. Financial stocks were a major bright spot in the market this week, with SVB Financial Group reigning as the top performer. About half of Wall Street analysts say shares are a buy, although the consensus price target suggests limited upside for shares near term. That included shares of Signature Bank and M & T Bank, which rose 4.8% and 4.5%, respectively, after posting earnings results. The average price target suggest shares stand to gain nearly 64% after they shed 65% in 2022.

Markets reacted positively to data, which showed retail sales and producer prices declined more than expected in December. However, the gains were short-lived as St. Louis Fed President James Bullard and Cleveland Fed President Loretta Mester stressed on the need to raise rates beyond 5% to bring inflation to heel. U.S. stock markets have started 2023 on a strong footing on hopes that a moderation in inflationary pressures could give the Fed cover to dial down the size of its interest rate hikes. Declining issues outnumbered advancers for a 1.23-to-1 ratio on the NYSE and a 1.53-to-1 ratio on the Nasdaq. The S&P index recorded nine new 52-week highs and two new lows, while the Nasdaq recorded 63 new highs and 12 new lows.

☆ Banks, insurers lead UK's FTSE higher; British inflation data looms
▼ + stars: | 2023-01-16 | by ( ) www.reuters.com time to read: +1 min

SummarySummary Companies FTSE 100, FTSE 250 add 0.2% eachJan 16 (Reuters) - UK's export-oriented FTSE 100 edged higher on Monday, with banks and life insurance companies among the top gainers, while investors looked ahead to a week lined up with key domestic economic data including inflation. The blue-chip FTSE 100 (.FTSE) and the mid-cap FTSE 250 (.FTMC) rose 0.2%, as of 0824 GMT, both looking to extend gains to a fourth straight session. Banks (.FTNMX301010) and the FTSE 350 life insurance sector (.FTNMX301010) added 0.4% and 0.6%, respectively. Volumes are expected to be thin due to the Martin Luther King Day federal holiday in the United States. Reporting by Johann M Cherian in Bengaluru; Editing by Eileen SorengOur Standards: The Thomson Reuters Trust Principles.

The FTSE 100 (.FTSE) ended up 0.2% at 7,860.07, not far off its all-time high of 7,903.50 points hit in May 2018, while the mid-cap FTSE 250 (.FTMC) added 0.7%. "Investors appear to have fallen back in love with UK assets," said Susannah Streeter, senior investment and markets analyst, Hargreaves Lansdown. Money markets are pricing in a 64.3% chance of a 50-basis point hike by the BoE in February to curtail inflation. Oil majors BP (BP.L) and Shell (SHEL.L) slipped close to 0.4% each as crude prices fell. ITM Power (ITM.L) slumped 12% after the energy storage and clean fuel company forecast a wider full-year loss.

☆ This week's best performers include two airlines and a media stock expected to rally 48%
▼ + stars: | 2023-01-13 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

United Airlines has 5% upside to the average analyst price target and its stock is rated a buy by 48% of the analysts covering it. However, American Airlines average price target implies 4% downside and just 9% of the analysts covering it have a buy rating. Discovery to rally almost 49%, according to the average price target. The media company, which gained 16% this week, is rated a buy by 46% of the analysts covering the stock. Meanwhile, Royal Caribbean has 6% upside to the average price target and a buy rating from 42% of the analysts covering the stock.

☆ Stocks making the biggest moves midday: Cognizant, American Airlines, Logitech and more
▼ + stars: | 2023-01-12 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

Cognizant — Shares of Cognizant rose 8% after the IT company raised its fourth-quarter revenue guidance. American Airlines — Shares rose more than 7% after the airline boosted its revenue and profit estimates for the fourth quarter. Caterpillar — Shares rose 2.4%, notching a 52-week high, after JPMorgan added the manufacturer to its focus list, saying its margin upside potential is currently underappreciated. Bed Bath & Beyond — Bed Bath & Beyond rallied 18%, building on gains after a handful of meme stocks surged Wednesday. The stock surged almost 69% in Wednesday's session.

☆ Commodity-linked stocks push FTSE 100 higher; retailers slide
▼ + stars: | 2023-01-12 | by ( Shashwat Chauhan | ) www.reuters.com time to read: +2 min

The blue-chip FTSE 100 (.FTSE) gained 0.6% to hover near a more than four-year high scaled on Wednesday, while the more domestically focused FTSE 250 mid-cap index (.FTMC) rose 0.9%. Retailers Tesco (TSCO.L) and Marks & Spencer (MKS.L) slipped between 0.3% and 1.6% despite strong sales, as both companies warned of inflationary pressures. Financial stocks were among the top gainers on the FTSE 100, with banks like HSBC (HSBA.L) and Barclays (BARC.L) rising 0.9% and 1.4%, respectively. The FTSE 100 has had a bright start to the year so far, rising in almost every session. Centrica (CNA.L) climbed to the top of FTSE 100, jumping 6.1% after the British Gas owner raised its full-year earnings forecast.

☆ Morning Bid: Disinflation elation
▼ + stars: | 2023-01-12 | by ( ) www.reuters.com time to read: +5 min

Whether the Federal Reserve policymakers will publicly chime with the disinflation narrative or not, many acknowledge their policy stance is now 'data dependent' from here. And unless disavowed of it by hard evidence, markets already assume the inflation battle is as good as won. The dollar and U.S. Treasury yields were slightly lower. China's inflation rate crept back up last month too but it remains below 2% and annual producer price inflation is still in negative territory. Although UK bond yields and sterling skidded lower on Wednesday in mix of recession concerns and energy price disinflation hopes, there was better news on the retail front today.

☆ Tesla, Uber, Amazon, Starbucks: The 2023 Just 100 list biggest gainers, losers and surprises
▼ + stars: | 2023-01-10 | by ( Eric Rosenbaum | ) www.cnbc.com time to read: +6 min

Where does it continue to post mixed performance: significantly lower worker scores than other companies, and importantly, than other auto companies. 505, well out of the Just 100 rankings. "We figured it out to our satisfaction this year ... and it wouldn't surprise you that the vast majority of gig workers did not receive benefits." "Market forces will drive them to offer gig workers more," he said, and in fact they already are. Starbucks and Amazon and unionization Amazon and Starbucks were both outside of the Just 100 rankings in 2022.

☆ Here are Monday's biggest analyst calls: Apple, Tesla, Amazon, Netflix, Alibaba, Meta, Uber & more
▼ + stars: | 2023-01-09 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Here are Monday's biggest calls on Wall Street: Bernstein reiterates Apple as market perform Bernstein said it's concerned about disappointing iPhone revenues for Apple. Guggenheim upgrades AutoZone to buy from neutral Guggenheim said it sees "operational improvement" for the auto parts retailer. KeyBanc upgrades Visa and Mastercard to overweight from sector weight KeyBanc upgraded several credit card stocks on Monday and said it sees "growth durability." "Bank stocks face another year of uncertainty with revenue forecasts challenged, provisions for credit on the rise, and capital return mostly sidelined ahead of a recession." Bank of America names Ferrari a top 2023 pick Bank of America said the luxury car company has pricing power.

☆ Here are Friday's biggest analyst calls of the day: Apple, Amazon, Uber, Nike, Boeing, Netflix & more
▼ + stars: | 2023-01-06 | by ( Michael Bloom | ) www.cnbc.com time to read: +10 min

Baird names Boeing a top 2023 pick Baird named Boeing as a top idea this year and says it sees a recovery in aerospace. UBS names Target a top pick in 2023 UBS says it sees Target as a market share gainer in 2023. Wells Fargo initiates Snowflake as overweight Wells said in its initiation of the stock that it's built to "weather the storm." Piper Sandler names Amazon a top 2023 pick Piper Sandler says it sees share gains and easing comps for the e-commerce giant. " Bank of America names Domino's a top 2023 pick The firm says Domino's is well positioned in a declining macroeconomic environment.

☆ ADP jobs report December 2022:
▼ + stars: | 2023-01-05 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

The jobs market closed out 2022 on a high note, with companies adding far more positions than expected in December, payroll processing firm ADP reported Thursday. Professional and business services grew by 52,000, while education and health services added 42,000. The big jobs surprise comes despite the Federal Reserve's attempts to slow a sizzling jobs market that has helped push inflation to near its highest level in more than 40 years. The central bank raised interest rates seven times in 2022, totaling 4.25 percentage points, and officials have identified labor market imbalances as a pivotal area they want to target. The ADP report comes a day before the Labor Department's count, which is expected to show growth of 200,000 in nonfarm jobs and an unemployment rate holding steady at 3.7%.

☆ Asia stocks hit 4-month high on reopening of Chinese economy
▼ + stars: | 2023-01-05 | by ( Tom Westbrook | ) www.reuters.com time to read: +4 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) rose 1% to touch a four-month high in morning trade. China has abruptly dropped ultra-strict curbs on travel and activity, unleashing the virus on the nation's 1.4 billion people. The yuan rose about 0.2% to 6.8750 on Thursday. China has partially eased an unofficial ban on Australian coal imports and the Australian dollar made a three-week high overnight just below $0.69. In Europe, unseasonally warm weather has disappointed skiers but been a boon for a euro basking in falling gas prices.

☆ China-exposed miners, banks push UK's FTSE 100 higher
▼ + stars: | 2022-12-28 | by ( ) www.reuters.com time to read: +1 min

SummarySummary Companies FTSE 100 up 0.9%, FTSE 250 adds 0.3%Dec 28 (Reuters) - UK's export-focused FTSE 100 advanced on Wednesday with miners and banks supporting gains, as top consumer China took additional measures to reopen the economy. The blue-chip FTSE 100 rose 0.9%, while the mid-cap FTSE 250 added 0.3%. Miners (.FTNMX551020) climbed 1.8%, tracking copper prices that rose after China dismantled its COVID curbs to reopen the economy. METL/Asia-focused banks such as Prudential (PRU.L) and Standard Chartered (STAN.L) were also among the gainers by 0824 GMT. UK markets were closed on Monday and Tuesday on account of Boxing Day and Christmas Day, respectively.

☆ Most Gulf markets subdued on economic concerns; Dubai gains
▼ + stars: | 2022-12-26 | by ( Ateeq Shariff | ) www.reuters.com time to read: +2 min

Dubai's main share index (.DFMGI) added 0.3%, ending three sessions of losses, helped by a 1.3% rise in sharia-compliant lender Dubai Islamic Bank (DISB.DU). Among other gainers, Islamic Arab Insurance (SALAMA) (SALAMA.DU) advanced 3.9%, after saying it is considering a proposal to acquire the insurance portfolio of Dubai Islamic Insurance and Reinsurance (Aman) (DNIN.DU). The benchmark index (.QSI) in Qatar - among the world's top exporters of liquefied natural gas - retreated 1.2%. Most stocks on the index were in negative territory including Qatar Islamic Bank (QISB.QA), which was down 2.4%. Outside the Gulf, Egypt's blue-chip index (.EGX30) climbed 1.2%, with El Sewedy Electric (SWDY.CA) surging 8.1%.

☆ Indian shares open lower on Fed rate hike fears, China COVID-19 woes
▼ + stars: | 2022-12-23 | by ( ) www.reuters.com time to read: +1 min

BENGALURU, Dec 23 (Reuters) - Indian shares opened lower in broad-based declines on Friday after robust U.S. economic data revived concerns over higher interest rates, while a surge in COVID-19 infections in China also dampened risk appetite. The Nifty 50 index (.NSEI) was down 0.78% at 17,988 as of 9:30 a.m. IST, dropping below the 18,000 mark for the first time since Nov. 10. Reuters GraphicsChina is expecting a peak in COVID-19 infections within a week, a health official said, sparking concerns across the world. The one exception was the pharma index, <.NIPHARM>, which rose 1.36% on news that India is ready to step up exports of fever medicines to China. Asian markets also declined after the slide in U.S. shares, with the MSCI Asia ex Japan (.MIAPJ0000PUS) falling 0.94%.

FedEx Corp (FDX.N), which sparked a market selloff in September after pulling financial forecasts, provided financial guidance and announced plans for $1 billion cost cuts. Also, U.S. consumer confidence rose to an eight-month high in December as inflation retreated and the labor market remained strong while 12-month inflation expectations fell to 6.7%, the lowest since September 2021. It's been helped by upbeat corporate commentary and an improvement in consumer confidence," said Angelo Kourkafas, investment strategist at Edward Jones in St. Louis referring to Nike and FedEx. Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., December 7, 2022. On U.S. exchanges 9.81 billion shares changed hands, compared with the 11.16 billion average for the last 20 sessions.

FedEx Corp (FDX.N), which sparked a market selloff in September after pulling financial forecasts, provided financial guidance and announced plans for $1 billion cost cuts. U.S. consumer confidence rose to an eight-month high in December as inflation retreated and the labor market remained strong while 12-month inflation expectations fell to 6.7%, the lowest since September 2021. It's been helped by upbeat corporate commentary and an improvement in consumer confidence," said Angelo Kourkafas, investment strategist at Edward Jones in St Louis referring to Nike and FedEx. The smallest gainer among the sectors was consumer staples (.SPLRCS) but it was still up 1%. The S&P 500 posted 5 new 52-week highs and 3 new lows; the Nasdaq Composite recorded 49 new highs and 211 new lows.

In fixed income U.S. Treasury prices fell following the BOJ's shock move, with the benchmark 10-year Treasury yield was rising to a three-week high of 3.69%. Among the S&P 500's 11 major sectors, energy index (.SPNY) was leading gains, up 1.8%, as crude oil prices rose. The materials (.SPLRCM) and financials (.SPSY) sectors were the next biggest gainers with banks benefiting from a rise in Treasury yields. Advancing issues outnumbered declining ones on the NYSE by a 1.45-to-1 ratio; on Nasdaq, a 1.38-to-1 ratio favored advancers. The S&P 500 posted 1 new 52-week highs and 14 new lows; the Nasdaq Composite recorded 44 new highs and 331 new lows.

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