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☆ Futures decline on cautious Fed tone on inflation
▼ + stars: | 2022-11-14 | by ( ) www.reuters.com time to read: +2 min

SummarySummary Companies Futures down: Dow 0.24%, S&P 0.35%, Nasdaq 0.60%Nov 14 (Reuters) - U.S. stock index futures edged lower on Monday as hawkish comments from a U.S. Federal Reserve official tempered hopes of a less aggressive pace of monetary policy tightening. Traders now expect the Fed to hike interest rates in December by a half point, and expect terminal rate in the range of 4.75%-5.0% in May 2023. ET, Dow e-minis were down 82 points, or 0.24%, S&P 500 e-minis were down 14 points, or 0.35%, and Nasdaq 100 e-minis were down 71.5 points, or 0.60%. read moreIn the week ahead, investors will closely monitor a slew of economic data, including retail sales numbers on Wednesday. Reporting by Shubham Batra, Bansari Mayur Kamdar in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

☆ Crypto stocks slide as FTX prepares for bankruptcy proceedings
▼ + stars: | 2022-11-11 | by ( ) www.reuters.com time to read: +2 min

Nov 11 (Reuters) - Shares of cryptocurrency and blockchain-related firms dropped on Friday after FTX, one of the biggest crypto exchanges, said it would initiate bankruptcy proceedings in the United States, triggering a potentially massive meltdown in the industry. Silvergate Capital (SI.N) declined 10%, leading the losses in the sector, while bitcoin holder MicroStrategy Inc (MSTR.O) slipped 2.6%. Bitcoin fell 3.6% to $16,919 as FTX Chief Executive Sam Bankman-Fried said he will step down from his position. The turmoil at FTX, which has rescued other players during the crypto market's recent crash, has raised concerns about the future of the crypto industry. ProShares Bitcoin Strategy ETF (BITO.P) fell 8%, while Short Bitcoin Strategy ETF (BITI.P) jumped 7.4%.

☆ Dollar slides, CPI data suggests Fed could slow pace of rate hikes
▼ + stars: | 2022-11-10 | by ( Herbert Lash | ) www.reuters.com time to read: +5 min

"Inflation is clearly moving in the right direction, and that keeps a more hawkish Fed at bay," he said. The spike higher in the yen versus the dollar stirred speculation the Bank of Japan intervened, which analysts doubted. Fed funds futures priced in a drop in expectations for the U.S. central bank's peak target rate, which fell below 5%. The likelihood of a 50-basis-point rate hike by the Fed instead of a 75-basis-point increase in December rose to 71.5%. CPI rose 7.7% in October on a year-over-year basis, down from 8.2% in the prior month, as headline inflation fell below 8% for the first time since February.

☆ Wall Street ends sharply higher on sign of cooling inflation
▼ + stars: | 2022-11-10 | by ( Noel Randewich | ) www.reuters.com time to read: +4 min

One-time Wall Street darlings tarnished in 2022's bear market were among Thursday's strongest performers, with Nvidia (NVDA.O) jumping about 14%, Meta Platforms (META.O) climbing 10% and Alphabet (GOOGL.O) rising 7.6%. Growing recession worries have hammered Wall Street this year. The S&P 500 (.SPX) remains down about 17% year to date, and it is on course for its biggest annual decline since 2008. S&P 500's busiest tradesThe S&P 500 climbed 5.54% to end the session at 3,956.31 points. All 11 S&P 500 sector indexes rallied, led by information technology (.SPLRCT), up 8.33%, followed by a 7.74% gain in real estate (.SPLRCR).

"It takes off the table the risk that the Fed will have to overtighten and break the economy." The inflation data prompted traders to adjust their rate hike bets, with odds of a 50-basis point rate hike in December jumping to more than 80% from 52% before the data was released. The CBOE volatility index (.VIX), also known as Wall Street's fear gauge, fell to a near two-month low of 23.4 points. Wall Street's main indexes have suffered sharp losses this year as investors feared the U.S. central bank's aggressive rate hikes to tame decades-high inflation will tip the economy into recession. The S&P index recorded 13 new 52-week highs and no new low, while the Nasdaq recorded 70 new highs and 93 new lows.

Every line of the report shows sequential improvement," said Art Hogan, chief market strategist at B. Riley Financial. The report prompted traders to adjust their rate hike bets, with bets of a 50-basis point rate hike in December jumping to more than 70% from 45% before the data was released. Following last week's Fed policy meeting, some U.S. central bank officials have made comments that pointed to slower rate rises over coming meetings. The Fed's policy rate is currently in a range of 3.75%-4.00%. The CBOE volatility index (.VIX), also known as Wall Street's fear gauge, fell to a near two-month low of 23.94.points.

☆ Futures rise as focus shifts to inflation data
▼ + stars: | 2022-11-10 | by ( ) www.reuters.com time to read: +2 min

SummarySummary Companies Futures up: Dow 0.09%, S&P 0.17%, Nasdaq 0.31%Nov 10 (Reuters) - U.S. stock index futures inched higher on Thursday as investor focus turned to October inflation data for clues on the path of future interest rate hikes. Traders are split on whether a 50 basis points or 75 basis points rate hike by the Fed is likely in December. ET, Dow e-minis were up 29 points, or 0.09%, S&P 500 e-minis were up 6.5 points, or 0.17%, and Nasdaq 100 e-minis were up 33.25 points, or 0.31%. The CBOE volatility index (.VIX), also known as Wall Street's fear gauge, rose to 26.56 points, and was close to a weekly high. Reporting by Shubham Batra and Bansari Mayur Kamdar in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

The market can accept gridlock," said Quincy Krosby, chief global strategist at LPL Financial in Charlotte, North Carolina. S&P 500 has risen in every 12-month period following the U.S. midterm elections over the past 70 yearsAt 6:21 a.m. ET, Dow e-minis were down 67 points, or 0.2%, S&P 500 e-minis were down 2 points, or 0.05%, and Nasdaq 100 e-minis were up 8.5 points, or 0.08%. Meanwhile, some market participants expect October U.S. inflation data due on Thursday to be more market-moving. read moreReporting by Medha Singh and Bansari Mayur Kamdar in Bengaluru; Editing by Savio D'Souza and Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.

Summary Futures up: Dow 0.02%, S&P 0.15%, Nasdaq 0.41%Nov 9 (Reuters) - U.S. stock index futures inched higher on Wednesday as results from midterm elections rolled in, with investors bracing for a political gridlock in Washington that would make it harder for drastic policy changes to come through. "You're in a slightly different situation and it does look like the Biden Presidency has not been dealt a massive blow by these midterm elections, so the markets are in a wait-and-see mode." The S&P 500 has posted a gain in each 12-month period after the midterm vote since World War Two, according to Deutsche Bank. S&P 500 has risen in every 12-month period following the U.S. midterm elections over the past 70 yearsAt 3:07 a.m. ET, Dow e-minis were up 7 points, or 0.02%, S&P 500 e-minis were up 5 points or 0.13%, and Nasdaq 100 e-minis were up 45.75 points, or 0.41%.

☆ Wall St closes sharply higher on hopes of abating Fed
▼ + stars: | 2022-10-24 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

Among the 11 major sectors in the S&P 500, nine closed green, with healthcare (.SPXHC) enjoying the largest percentage gain. So far, nearly one-fifth of the companies in the S&P 500 have reported. Analysts expect S&P 500 earnings growth of 3.0%, on aggregate, down from 4.5% at the beginning of the month, per Refinitiv. Results from a slew of heavy-hitting tech and tech-adjacent companies are likely to dominate the earnings chatter this week. The S&P 500 posted 21 new 52-week highs and 4 new lows; the Nasdaq Composite recorded 73 new highs and 331 new lows.

☆ Wall St rises as data hints at Fed policy progress
▼ + stars: | 2022-10-24 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

All three major U.S. stock indexes were higher at the top of a week jam-packed with high profile corporate earnings and crucial economic data. Among the 11 major sectors in the S&P 500, healthcare (.SPXHC) was enjoying the largest percentage gain. So far, nearly one-fifth of the companies in the S&P 500 have reported. Analysts expect S&P 500 earnings growth of 3.0%, on aggregate, down from 4.5% at the beginning of the month, per Refinitiv. The S&P 500 posted 21 new 52-week highs and 4 new lows; the Nasdaq Composite recorded 58 new highs and 297 new lows.

The benchmark S&P 500 (.SPX) is up nearly 6% from its Oct. 12 closing low for the year. The reaction function to the actual earnings will likely be positive," said Art Hogan, chief market strategist at B. Riley Wealth in New York. Of the 99 companies in the S&P 500 that reported third-quarter earnings through Friday, 74.7% had beat analysts' expectations, according to Refinitiv estimates. Shares of 3M (MMM.N) and Coca-Cola (KO.N) and Boeing (BA.N), which are also reporting earnings this week rose between 0.5% and 3%. Among S&P 500 sectors, healthcare (.SPXHC) was up 2.1% and in the lead, followed by industrials (.SPLRCI) and consumer staples (.SPLRCS).

read moreOther megacap shares, including those of Amazon.com Inc (AMZN.O) and Alphabet Inc (GOOGL.O), also dropped ahead of their earnings later this week. read moreThe benchmark S&P 500 (.SPX) is up about 5% from its Oct. 12 closing low for the year. The indexes notched their biggest weekly percentage gains in four months on Friday, also supported by better-than-expected earnings reports. The earnings reports from the four biggest U.S. companies by market capitalization could test a nascent rally on Wall Street as stocks claw their way back from the latest lows. The S&P index recorded 20 new 52-week highs and 4 new lows, while the Nasdaq recorded 42 new highs and 204 new lows.

☆ China ADRs tumble as Xi's new team sparks worries over economy's path
▼ + stars: | 2022-10-24 | by ( Medha Singh | ) www.reuters.com time to read: +2 min

Chinese President Xi Jinping votes during the closing ceremony of the 20th National Congress of the Communist Party of China, at the Great Hall of the People in Beijing, China October 22, 2022. REUTERS/Tingshu WangOct 24 (Reuters) - U.S.-listed shares of Chinese companies slumped on Monday after President Xi Jinping's new leadership team sparked investor concerns that ideology-driven policies would be prioritized at the cost of private sector growth. The iShares MSCI China ETF (MCHI.O) tanked 10%, tracking its steepest one-day drop ever. "By consolidating power, Xi is likely to face little opposition to this form of nationalization of corporate interests." Xi secured a precedent-breaking third leadership term on Sunday and introduced the new Politburo Standing Committee stacked with loyalists.

☆ Wall Street set to open higher as bond yields retreat
▼ + stars: | 2022-10-24 | by ( Amruta Khandekar | ) www.reuters.com time to read: +3 min

The 10-year yield was last seen at 4.17% after hitting a 15-year high at 4.34% on Friday. The earnings reports from the four biggest U.S. companies by market capitalization could test a nascent rally on Wall Street as stocks claw their way back from the latest lows. Of the 99 companies in the S&P 500 that reported third-quarter earnings through Friday, 74.7% had beat analysts' expectations, according to Refinitiv IBES estimates. Despite the recent rebound, the index is down 21% so far in 2022, on track for its biggest decline since 2008. ET, Dow e-minis were up 144 points, or 0.46%, S&P 500 e-minis were up 14.75 points, or 0.39%, and Nasdaq 100 e-minis were up 13.25 points, or 0.12%.

☆ Futures slide as China worries sour global mood
▼ + stars: | 2022-10-24 | by ( ) www.reuters.com time to read: +2 min

All the three major indexes notched their biggest weekly percentage gains in four months last week, supported by better-than-feared third-quarter earnings so far. Of the 99 companies in the S&P 500 that have reported quarterly earnings as of Friday, 74.7% beat analysts' expectations, according to Refinitiv estimates. Focus now shifts to reports this week from big tech and growth companies. ET, Dow e-minis were down 197 points, or 0.63%, S&P 500 e-minis were down 26.5 points, or 0.7%, and Nasdaq 100 e-minis were down 95 points, or 0.84%. Register now for FREE unlimited access to Reuters.com RegisterReporting by Bansari Mayur Kamdar in Bengaluru; Editing by Sriraj KalluvilaOur Standards: The Thomson Reuters Trust Principles.

☆ Wall St rises as upbeat corporate forecasts trump UK political shock
▼ + stars: | 2022-10-20 | by ( Shreyashi Sanyal | ) 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. Fellow blue-chip stock Verizon Communications Inc (VZ.N) rose 2.3% after peer AT&T Inc (T.N) jumped 9.9% upon raising its annual profit forecast. However, the estimate is still sharply lower than an 11.1% increase that was forecast at the start of July. Advancing issues outnumbered decliners by a 2.38-to-1 ratio on the NYSE and by a 2.09-to-1 ratio on the Nasdaq. The S&P index recorded two new 52-week highs and 10 new lows, while the Nasdaq recorded 17 new highs and 104 new lows.

☆ S&P 500 to open lower as UK's Truss resigns as PM
▼ + stars: | 2022-10-20 | by ( Shreyashi Sanyal | ) www.reuters.com time to read: +3 min

The New York Stock Exchange building is seen from Broad Street in Lower Manhattan in New York, January 20, 2016. Truss's economic program had sent shockwaves through global financial markets and divided her Conservative Party just six weeks after she was appointed. Fellow blue-chip stock Verizon Communications Inc (VZ.N) shares added 0.9% after peer wireless carrier AT&T added 3.7% upon raising its annual profit forecast. However, the estimate is still sharply lower than an 11.1% increase that was forecast at the start of July. ET, Dow e-minis were up 19 points, or 0.06%, S&P 500 e-minis were down 5.75 points, or 0.16%, and Nasdaq 100 e-minis were down 39.25 points, or 0.35%.

Kanda, vice finance minister for international affairs, said he will not comment on whether Japan was intervening now or have stepped into the currency market earlier on Thursday. Japanese Finance Minister Shunichi Suzuki also told reporters after the yen's latest slide that he will "take decisive action" against excessive, sharp yen moves. "We cannot tolerate excessive, rapid currency market moves driven by speculative action," Suzuki said. The yen's break of 150 against the dollar took it to its weakest level since August 1990. The BOJ, for its part, ramped up efforts to defend its 0% bond yield cap earlier on Thursday with offers of emergency bond buying.

Goldman Sachs Group Inc (GS.N) gained 2.5% after reporting a smaller-than-expected drop in quarterly profit due to a slowdown in investment banking, which was cushioned by a boost in net interest income. If I had to guess, this is more of a short-term bear market rally, and we'll see more volatility in the weeks ahead." Netflix (NFLX.O) slid 1.7% ahead of its earnings report after markets close, with all eyes on the video-streaming company's subscriber growth, which is seen falling in the third quarter. Advancing issues outnumbered decliners by a 2.70-to-1 ratio on the NYSE and by a 2.05-to-1 ratio on the Nasdaq. The S&P index recorded three new 52-week highs and two new lows, while the Nasdaq recorded 58 new highs and 66 new lows.

The bank will now have three operating segments - asset and wealth management, global banking and markets, and platform solutions. Goldman Sachs outlined leadership changes for the new units, with Marc Nachmann becoming global head of the asset and wealth management division. In the consumer and wealth management business, Goldman saw revenue jump 18% to $2.38 billion in the quarter, reflecting higher demand for loans and higher fees from managing assets. Goldman said its consumer unit will be folded into two separate businesses - wealth management and the newly created platform solutions. The Platform Solutions unit will include GreenSky, the fintech lender Goldman bought in a $2.2 billion deal.

With this, Goldman Sachs wraps up earnings reports from big U.S. banks this quarter on a largely positive note. "A better-than-feared earnings season may well be the catalyst the market needs to see a break in the steady grind lower." Netflix (NFLX.O) added 2.4% ahead of reporting its earnings after markets close. The reversal of parts of a controversial UK fiscal plan that had roiled bond markets also aided sentiment. Toymaker Hasbro Inc (HAS.O) fell 1.3% upon posting a 28% fall in quarterly profit, highlighting that inflation-hit consumers were further discouraged by price hikes.

read moreAnalysts now expect profit for S&P 500 companies to have risen just 2.8% from a year ago, much lower than an 11.1% increase expected at the start of July, according to Refinitiv data. All the 11 major S&P 500 sector indexes rose, with cyclical financials (.SPSY) and materials (.SPLRCM) rising 2% each. The S&P 500 banks index (.SPXBK) was up 2.81%. Advancing issues outnumbered decliners by a 8.42-to-1 ratio on the NYSE and by a 5.40-to-1 ratio on the Nasdaq. The S&P index recorded three new 52-week highs and one new low, while the Nasdaq recorded 45 new highs and 24 new lows.

Oct 17 (Reuters) - Bank of America Corp (BAC.N) on Monday reported a smaller-than-expected 9% drop in quarterly profit, as its interest income was bolstered by rising interest rates that offset a slump in investment banking. BofA holds a large base of consumer deposits, compared with its main rivals, making it more sensitive to any changes in interest rates. "Consumers remain resilient," Bank of America Chief Executive Officer Brian Moynihan told analysts on a conference call. The bank, however, added $378 million to its loan-loss reserves as it braces for a weakening economy. Citigroup Inc (C.N) wrote down $110 million on leveraged loans in the third quarter, down from $126 million in the previous quarter.

Register now for FREE unlimited access to Reuters.com Register"This is a direct result of higher interest rates offered by the banks looking very attractive compared to other risk assets. Bank of NY Mellon Corp (BK.N) also benefited from higher rates, sending its shares up 6.1%. Overall, higher rates boosted interest incomes for lenders in the third quarter but turbulent markets choked off dealmaking and banks set aside more funds to brace for an economic slowdown. read moreThe S&P 500 banks index (.SPXBK) was up 3.8%. All the 11 S&P 500 sector indexes were higher with technology (.SPLRCT), communication services (.SPLRCL) and consumer discretionary (.SPLRCD) leading with near 3% gains each.

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