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[hfe_template id='11223'] [ad_1] If anyone wanted a snapshot of the tight spot the U.S. economy and policymakers are in right now, they got it on Friday via the University of Michigan's latest consumer sentiment and inflation expectations survey. The results were eye-popping: consumer sentiment expectations are now the lowest since 1980 and one-year inflation expectations are the highest since 1981, above 6%. Sentiment surveys are only 'soft' data and there is much debate whether they translate into the 'hard' activity data like retail sales and hiring. Fed Chair Jerome Powell said earlier this month the link between the two in recent years has been "weak" and he has previously downplayed the U-Mich inflation expectations figures. But the direction of travel is getting harder to ignore. Consumers are spooked by President Donald Trump's trade war and fear tariffs will push up prices, forcing them to curtail spending. If this soft data ...

[hfe_template id='11223'] [ad_1] The first trading day of the quarter on Tuesday was a nervy affair ahead of U.S. President Donald Trump's "Liberation Day" on Wednesday, with markets struggling for clear direction as Trump's new trade barriers loomed into view. Stocks mostly rose but U.S. Treasury yields tumbled, while gold and the dollar broadly held steady. Talking of the greenback, I will dig deeper into the IMF's latest FX reserves data below, but first, here are the scores on the doors from Tuesday's trading around the world. Today's Key Market Moves. * A late surge on Wall Street lifts the Nasdaq and S&P 500 out of the red. The Nasdaq rises 0.8%, the S&P 500 gains for a second day. * Tesla shares rebound 3.6% ahead of its first-quarter vehicle deliveries report on Wednesday. Live Events * U.S. Treasury yields fall across the curve. A 9 bps decline at the long end bull flattens the curve. * Benchmark European stocks rise m...

[hfe_template id='11223'] [ad_1] Wall Street's main stock indexes pared declines on Friday, after U.S. President Donald Trump said that there would be flexibility on tariffs, ahead of the reciprocal duties he is likely to impose early next month. At 12:20 p.m. ET, the Dow Jones Industrial Average fell 98.53 points, or 0.23%, to 41,854.79, the S&P 500 lost 17.60 points, or 0.31%, to 5,645.29 and the Nasdaq Composite lost 16.09 points, or 0.09%, to 17,675.54. Lingering fears of a prolonged global trade war, threatening to unravel economic stability and squeeze corporate profits, have cast a shadow over markets. Markets now await President Donald Trump's plans on reciprocal and sectoral tariffs that are expected to take effect in early April. "We really don't know what the wild card is coming out of Washington, and this goes for the Fed as well," said Michael Matousek, head trader at U.S. Global Investors Inc. Live Events Friday's session also ...

[hfe_template id='11223'] [ad_1] U.S. stocks rebounded on Friday as investors hunted for bargains at the end of a tumultuous week in which U.S. President Donald Trump's escalating trade war fueled recession fears and doused risk appetite. A broad rally boosted all three major U.S. stock indexes to solid gains, with recently battered tech-related megacaps enjoying a comeback. Every one of the so-called Magnificent 7 artificial intelligence-related momentum stocks advanced, although six of them remain down on the year. The S&P 500 and Nasdaq logged their biggest one-day percentage gains since November 6, the day after the U.S. presidential election. Chips were outperformers, rising 3.3%, while the FANG group of tech-adjacent momentum stocks advanced 3.2%. "I don't see a catalyst that would spark this huge upside we're seeing in markets," said Ross Mayfield, investment strategy analyst at Baird in Louisville, Kentucky. Live Events "We'...

[hfe_template id='11223'] [ad_1] Wall Street's failure to bounce back from its recent beating on news of a potential ceasefire between Ukraine and Russia shows just how worried investors are about the growth and market impact from U.S. President Donald Trump's tariff wars. Ukraine said on Tuesday it is willing to accept a U.S. proposal for a 30-day ceasefire, a deal that Washington will now put to Moscow. Investors initially cheered the news, and at one point the Nasdaq was up more than 1%. But Trump's announcement that he will double tariffs on imported steel and aluminum products from Canada to 50% weighed heavily, and traders ended the day with a sea of red across their screens. Today's Key Market Moves. * The three main indexes on Wall Street close at fresh five-month lows. The S&P 500 is back in 'correction' territory, down more than 10% from its peak, and the Nasdaq is off 15% from its peak. Live Events * The dollar slides to a 5-mont...

[hfe_template id='11223'] [ad_1] A $439 billion rally in Chinese tech megacaps this year has left their once-unbeatable US peers in the dust, an outperformance that many investors say has room to extend. An equal-weighted basket of China’s seven tech heavyweights including Alibaba Group Holding Ltd. and Tencent Holdings Ltd. — dubbed the “7 titans” by Societe Generale SA — has gained more than 40% this year. That compares with an about 10% drop in an index of the Magnificent Seven stocks, whose slump has also pushed the Nasdaq 100 Index to the brink of a correction. It’s a sharp reversal of fortunes that few in Wall Street saw coming. Earlier this year, the Nasdaq gauge had notched yet another record, while Chinese stocks were still marred by years of regulatory crackdown and a tepid consumption recovery. Then almost overnight, DeepSeek upended the perception that it will take years — if ever — for China to catch up to the level of America’s AI supremacy. Chinese tech st...

[hfe_template id='11223'] [ad_1] U.S. stocks tumbled on Friday, extending their selloff in the wake of dour economic reports and closing the book on a holiday-shortened week fraught with new tariff threats and worries of softening consumer demand. All three major U.S. stock indexes moved decisively lower on the heels of the data, and continued their slide into afternoon trading. The S&P 500 suffered its largest single-day percentage drop since December 18, as did the small cap Russell 2000. For the week, all three indexes lost ground, with the Dow registering its steepest Friday-to-Friday plunge since mid-October. "I don't like all this red on a Friday," said Greg Bassuk, CEO at AXS Investments in New York. "We're seeing consumer sentiment, tariffs and corporate earnings having leap-frogged AI and technology as the primary drivers of market direction." Economic data showed U.S. business activity decelerating and consumer sentiment deter...

[hfe_template id='11223'] [ad_1] NEW YORK, - The S&P 500 edged higher while the Nasdaq dipped after a volatile session on Tuesday as investors gauged inflation data and braced for quarterly earnings reports to justify stock valuations and the strength of the U.S. economy. Stocks oscillated between gains and losses throughout the day. Equities received an initial lift from a Labor Department report that showed the producer price index rose less than expected in December, although the report failed to materially affect expectations about the Federal Reserve's likely path of monetary policy this year. Investors awaited Wednesday's consumer price index reading, which will further shape expectations for inflation and the Fed. "There is an inherent level of uncertainty out there about where rates and the Fed is headed," said Chris Fasciano, chief market strategist at Commonwealth Financial Network. "Now we'll see what tomorrow morning brings,...

[hfe_template id='11223'] [ad_1] Wall Street pulled back on Thursday as investors evaluated key economic indicators ahead of the Federal Reserve's meeting next week. A Thursday Labor Department report showed U.S. producer prices rose more than forecast in November, though a moderation in service costs pointed to a continuation of the broader disinflationary trend. Initial claims for U.S. unemployment benefits unexpectedly climbed last week, raising concerns about labor-market resilience. "Investors are just trying to suss out what is the Fed going to do next week? Is inflation really going to be a problem and the Fed has to really slow its role on rate cuts, or can they get there?" said Rob Haworth, senior investment strategist at U.S. Bank Wealth Management in Seattle. Haworth added there was profit-taking after the Nasdaq touched an all-time high on Wednesday. The Nasdaq had surged past the 20,000 mark for the first time on Wednesday, driven by a strong ...

[hfe_template id='11223'] [ad_1] The S&P 500 and Nasdaq eked out record closing highs on Tuesday, with tech-related shares extending recent gains as investors awaited further jobs data. The Dow finished slightly lower on the day. Among S&P 500 sectors, technology, communication services and consumer discretionary were the only gainers, extending their advance on Monday. Marketwatchers also digested reassuring comments from Federal Reserve policymakers. Two policymakers said they see inflation heading down to the U.S. central bank's 2% target and that the job market is "solid." They stayed away from signaling whether they would support another interest rate cut later this month. On Monday, Fed Governor Christopher Waller said he was inclined "at present" to support another rate cut this month. Investors will pay close attention to the U.S. monthly employment report on Friday. They also are keen to see other data this week, including a No...

[hfe_template id='11223'] [ad_1] U.S. stocks closed sharply higher in a broad rally on Tuesday after data signaled a solid economy, but investors braced for volatile trading this week as voting was underway in an extremely tight U.S. presidential election. The Institute for Supply Management said its non-manufacturing purchasing managers index, a gauge of the services sector, accelerated to 56.0 last month, its highest since August 2022, from 54.9 the prior month and above the 53.8 expected by economists polled by Reuters. The election outcome could take days to be finalized as the latest polls showed the race between Republican Donald Trump and Democrat Kamala Harris, which has impacted markets in recent months, was too close to call. The former president's odds improved on Tuesday in betting markets that many investors see as election indicators. "The market continues to try and price for what is the outcome of this election," said Rob Haworth, senior i...

[hfe_template id='11223'] [ad_1] The Nasdaq scored a record closing high and the S&P 500 rose on Tuesday, while the Dow fell as investors digested a host of corporate earnings and awaited Google-parent Alphabet's results that came after the market close. Alphabet, one of the so-called "Magnificent Seven" megacap technology stocks, reported quarterly revenue that beat estimates. This is the busiest week for S&P 500 earnings in the quarter, with eyes on five of the "Magnificent Seven" companies that are reporting results. The group's results will be crucial to determining whether Wall Street can sustain the optimism around technology and artificial intelligence that has lifted indexes to record highs this year. "I think one of the things the market is digesting is the idea of some degree of convergence in earnings growth between the high fliers - the Magnificent Seven that are obviously very high in terms of market weighting - ve...

[hfe_template id='11223'] [ad_1] The U.S. Securities and Exchange Commission has approved listing and trading of options for asset manager BlackRock's spot bitcoin exchange-traded fund on the Nasdaq. Options trading for BlackRock's fund iShares Bitcoin Trust has been approved with ticker symbol "IBIT", the regulator said in a notice on Friday. The index options - listed derivatives offering a quick and inexpensive way to amplify exposure to bitcoin - on a bitcoin index would give institutional investors and traders an alternative way to hedge their exposure to the world's largest cryptocurrency. Crypto Tracker The approval for listing and trading options tied to a bitcoin ETF represents another positive step for cryptocurrency, once considered a nascent asset class. Cryptocurrency has moved closer to mainstream acceptance since the launch of bitcoin ETFs earlier in the year. Options give holders the right to buy or sell an asset, such as a stock...

[hfe_template id='11223'] [ad_1] U.S. stocks sold off for a second straight session on Friday, and the Nasdaq Composite confirmed it was in correction territory after a soft jobs report stoked fears of an oncoming recession. The Labor Department said nonfarm payrolls increased by 114,000 jobs last month, well short of the 175,000 average forecast by economists polled by Reuters, and the at least 200,000 that economists believe are needed to keep up with population growth. The unemployment rate jumped up to 4.3%, near a three-year high. The data added to concerns the economy was slowing more rapidly than anticipated and the Federal Reserve had erred by keeping rates steady at its policy meeting that concluded on Wednesday. Expectations for a rate cut of 50 basis points (bps) at the Fed's September meeting jumped to 69.5% from 22% in the prior session, according to CME's FedWatch Tool "Obviously the jobs number is the big headline, but we seem to have officia...

[hfe_template id='11223'] [ad_1] Wall Street stocks rallied on Friday, with the S&P 500 and Dow Jones Industrial Average hitting record highs on optimism that the Federal Reserve will begin cutting U.S. interest rates in September, while big lenders fell after reporting mixed results. Some of the market's most valuable companies bounced back after dipping in the previous session, with Apple climbing 2% and Nvidia adding almost 3%. JPMorgan Chase's second-quarter profit was lifted by rising investment banking fees. However, shares of the world's largest bank dipped almost 1%, cutting their gain in 2024 to about 21%. Wells Fargo tumbled nearly 6% after the lender missed estimates for quarterly interest income, while Citigroup fell 2% despite reporting a surge in investment banking revenue. The S&P 500 banks index lost 1%.The small-cap Russell 2000 rallied for a third straight day, jumping 1.4% to its highest since 2022, while the S&P 400 Mid Cap ind...

[hfe_template id='11223'] [ad_1] The Nasdaq ended sharply lower on Thursday, hit by losses in Nvidia, Apple and Tesla as investors rotated into smaller companies after softer-than-expected inflation data fed bets the Federal Reserve will cut interest rates in September. The S&P 500 also lost ground after a Labor Department report showed U.S. consumer prices fell unexpectedly in June and the annual increase was the smallest in a year, drawing the Fed closer a September rate cut. The Dow finished with modest gains. Interest rates futures suggest traders see an over 90% chance the Fed will cut rates by its September meeting, up from about 74% on Wednesday, according to CME Group's Fedwatch. Despite signs of receding inflation, Wall Street's most valuable companies lost ground, with Microsoft and Amazon each losing more than 2% and Meta Platforms dropping about 4%. Tesla tumbled 8.4%, its biggest one-day percentage drop since January, after Bloomberg News repor...

[hfe_template id='11223'] [ad_1] The tech-heavy Nasdaq and the benchmark S&P 500 jumped to record highs on Friday, as most megacap stocks hit all-time highs following latest data that signaled U.S. labor market weakness and pulled Treasury yields lower. Microsoft, Meta Platforms, Amazon.com and Apple advanced 1%-4% to hit record highs. This pushed information technology to an all-time high, and prompted the S&P 500 communication services to emerge as the top sector performer, rising 2.1% to its highest level since 2000. Labor Department data showed U.S. job growth slowed marginally in June, and the unemployment rate rose to an over 2-1/2-year high, while wage gains slipped. The data supported the easing labor market narrative, following ADP Employment report and jobless claims earlier this week, giving a fresh boost to bets of a September interest rate cut.Investors expect the data could open the path to a more active debate on interest-rate cuts when the Federal...

[hfe_template id='11223'] [ad_1] U.S. stocks ended Thursday around the unchanged mark as investors awaited fresh inflation data, with the Nasdaq able to eke out a slight gain after data showed a continued slowdown in economic activity, raising investors' hope for rate cuts. "The market is in a bit of a holding pattern here for the PCE because there hasn't been a lot of big catalysts," said Ross Mayfield, investment strategy analyst at Baird, about the release of the monthly personal consumption expenditures (PCE) price index - the Federal Reserve's preferred inflation gauge - on Friday. Data showed new orders for key U.S.-manufactured capital goods unexpectedly fell in May, while core durable goods orders fell 0.1% versus forecasts for a 0.2% rise, boosting investor beliefs that a weaker economy could prompt the Federal Reserve to cut interest rates in September. Weekly jobless claims fell to 233,000, missing expectations of 236,000. Further, a fin...

[hfe_template id='11223'] [ad_1] he S&P 500 and the Nasdaq fell on Friday weighed down by chip stocks, while investors also assessed stronger-than-expected U.S. business activity data. AI chip firm Nvidia dropped 4.4%, after losses in the previous session saw its market valuation fall back below that of Microsoft. Semiconductor stocks Qualcomm, Broadcom, Micron Technology and Arm Holdings were down between 2% and 5%, dragging the Philadelphia SE Semiconductor index 2.2% lower. Technology was the worst hit among the major S&P 500 sector indexes, and was down 1.3%. Megacaps such as Alphabet, Amazon.com and Apple rose between 0.6% and 1.4%.U.S. business activity crept up to a 26-month high in June amid a rebound in employment, but price pressures subsided considerably, offering hope that a recent slowdown in inflation was likely to be sustained.Flash services PMI increased to 55.1 this month, above expectations of 53.7, while manufacturing PMI edged up to 51.7, comp...

[hfe_template id='11223'] [ad_1] The S&P 500 and Nasdaq registered record closing highs for a fourth session in a row on Thursday as technology shares extended their recent rally. The number of Americans filing new claims for unemployment benefits increased last week and another report showed producer prices unexpectedly fell in May, helping to keep alive hopes that an interest rate cut by the Federal Reserve may be on the horizon. The Fed on Wednesday projected only one rate cut this year, while its outlook in March included three quarter-percentage-point reductions. The S&P 500 technology sector jumped 1.4% and an index of semiconductors rose 1.5%, both reaching all-time closing highs. Shares of Broadcom jumped 12.3% after the chipmaker raised its forecast for revenue from semiconductors used in artificial intelligence technology. It also announced a 10-for-1 forward stock split. Shares of Nvidia rallied 3.5%, and Apple ended up 0.5%. "It's still ver...