Page 10 - Wall Streets

Wall Street drops, Treasury yields gyrate on Fed Chairman Powell's remarks

US stocks retreated and benchmark Treasury yields wavered on Tuesday as Federal Reserve Chairman Jerome Powell commenced his semi-annual, two-day monetary policy testimony before Congress

Sticky inflation pushes Wall Street toward weekly losses, rate hikes fears

Wall Street is poised to extend its slide Friday, one day after U.S. markets suffered their biggest drop in a month on an inflation reading that came in hotter than expected. Futures for the Dow Jones industrials slid 0.5 per cent and the S&P 500 dipped 0.7 per cent . Oil prices fell more than 3 per cent . The S&P 500 lost 1.4 per cent Thursday following news that inflation at the wholesale level slowed less than economists had expected. That hot reading echoed inflation data earlier in the week at the consumer level that suggests inflation isn't falling as steadily as was hoped, though Fed Chair Jerome Powell has warned of an uneven return to more normal levels of inflation. Stocks have gyrated on worries that persistently high inflation will push the Federal Reserve to get even more aggressive on interest rates. Higher rates tend to cool inflation, but they also raise the risk of recession of spending trails off too much. Continued strength in the inflation data suggests ..

Domestic demand drivers intact, slowdown fears unfounded: Analysts

A Wall Street brokerage has downplayed the slowdown fears arising after the poor December quarter data prints, saying the moderate numbers are due to the base effect and that the January data clearly show that domestic demand drivers are intact. According to Morgan Stanley India chief economist Upasana Chachra and her deputy Bani Gambhir, the apparent deceleration in the December quarter number come from the mixed trends in high-frequency domestic demand indicators coupled with a slowdown in external demand as visible from shrinking exports, creating fears of an impending growth slowdown. Accordingly, they choose to stand out, expecting a 6.2 per cent GDP growth in FY24 as against the 6 per cent consensus forecasts, reiterating their view that domestic demand is likely to sustain the growth momentum. While the budget has not offered a clear GDP growth number for next fiscal, saying it is likely to grow in 6.0 to 6.5 per cent range, the Reserve Bank in its latest assessment has ...

Asian Shares track Wall Street's inflation optimism, yen recoups losses

Japan's currency had weakened on uncertainty surrounding the next governor of the Bank of Japan

Global shares trade mostly lower after the year's biggest Wall St retreat

Global shares were mostly lower Thursday as investors grew cautious after Wall Street's biggest pullback of the year

US stocks fall broadly with more losses; S&P 500 ends worst year since 2008

Stocks fell in afternoon trading on Wall Street on Friday as major indexes close out a dismal year with lingering concerns about stubbornly hot inflation and a potential recession. The S&P 500 fell 0.7 per cent as of 12:01 pm Eastern. The index, which is considered a benchmark for the broader market by investors, is on track to end 2022 with a 20 per cent loss. That would mark its worst loss since the financial crisis 14 years ago. The Nasdaq composite fell 0.7 per cent and is on track for a much steeper annual loss of 33.5 per cent. The index is faring much worse this year because it is heavily made up of technology stocks that have been leading the broader market slump. The Dow Jones Industrial Average fell 210 points, or 0.6 per cent, to 33,007. It is on track for a 9.4 per cent loss this year. There was scant corporate or economic news for Wall Street to review on the last trading day of the year. Tesla stabilized from steep losses earlier in the week, though it is still on ...

Fed's message on rate hold for 'some time' clashes with 2023 rate-cut bets

They're also likely to signal another 50 basis points of tightening next year, according to economists, and an expectation that once they reach that peak, they'll stay on hold through all of 2023

Wall Street slides after manufacturing data, salesforce tumbles; Dow falls

"Yesterday's move was so crazy large, this is probably just some natural profit taking," Rusty Vanneman, chief investment strategist at Orion Advisor Solutions, said

China trying to revive ties with the US via the Wall Street route: Report

Days before the meeting between Xi Jinping and Joe Biden at the G20 Summit in Indonesia, a Chinese delegation of policy advisors and business executives met with their US counterparts in New York

Buoyant Wall Street boosts world, European stocks; oil prices slide

World and European shares turned higher on Friday as Wall Street extended gains amid hopes of a slowdown in some central banks' rate hikes

Too early to write off 'king' dollar's dominance, says Wall Street

It's too soon to write off the dollar's dominance as the US rate-hike cycle may not be near its peak

Wall Street sees sharp gains as dollar dips on UK U-turn, strong earnings

Wall Street jumped to robust gains on Monday as solid earnings and a financial policy reversal in Britain fueled risk appetite and boosted the sterling and euro against the greenback

S&P 500 wipes out 2.4% loss in biggest stock reversal since July 1991

It was a stock reversal for the ages: A near-uniform plunge followed by an everything rally made for a dizzying day on Wall Street.

High inflation keeps Wall Street, global stocks muted to end brutal quarter

Wall Street and global stocks made up little ground on Friday, with government bond yields and the dollar holding near recent peaks, as higher-than-expected inflation continued to weigh on markets.

Revlon lenders to seek rehearing after Citigroup's $500 mn victory

Some of the Revlon Inc. creditors who were accidentally sent more than $900 million by Citigroup Inc. asked a federal appeals court for a rehearing, after it ruled that they had to give the money back

Tech, financial stocks drag Wall Street lower as growth concerns mount

Nine of the 11 major S&P sectors declined, led by a drop of 2% in consumer discretionary and 1.5% in financial stocks; Eli Lilly up on FDA approval for cancer drug

World shares mostly higher after wobbly yield of gains on Wall Street

World shares were mostly higher on Thursday after a wobbly day of trading yielded modest gains on Wall Street. Germany's DAX added 0.4 per cent to 13,075.05 while the CAC 40 in Paris edged 0.1 per cent higher to 6.230.03. Britain's FTSE 100 climbed 0.6 per cent to 7,320.71. The futures for the S and P 500 and the Dow industrials were up 0.3 per cent. A report on inflation at the wholesale level released on Wednesday showed that prices are still rising rapidly, with pressures building underneath the surface, even if overall inflation slowed. It echoed a report on inflation at the consumer level on Tuesday, which raised expectations for interest-rate hikes and triggered a rout for markets. Investors worry rate hikes by the Federal Reserve to cool surging prices could go too far in slowing the US economy and send it into a recession. The Fed is trying to avoid that outcome, but the latest inflation reports suggest that is becoming a more difficult task. But markets appeared to have

World shares advance after last week's strong close on Wall Street

Shares climbed Monday in Europe and Asia after last week's strong close on Wall Street snapped a three-week losing streak. Many Asian markets were closed for holidays. US futures rose while oil prices turned higher. Investors are watching for US inflation figures and Chinese economic data this week. The US Labour Department will release its report on consumer prices for August on Tuesday and a report on wholesale prices on Wednesday. On Thursday, Wall Street will get an update on retail sales for August. Germany's DAX climbed 1.3% to 13,2595 while the CAC 40 in Paris gained 1% to 6,273.58. Britain's FTSE 100 was up 1.1% at 7,430.66. The future for the S&P 500 was 0.4% higher while that for the Dow industrials gained 0.3%. Coronavirus cases are still casting a shadow in China, where about 65 million Chinese were under lockdown as of last week despite just 1,248 new cases of domestic transmission, mostly asymptomatic, being reported on Sunday. All in all, the lower-for-longer grow

Wall St slides for fifth straight day on rate hike jitters; Nasdaq falls 2%

All eyes on August nonfarm payrolls report on Friday; Nvidia, AMD falls after US export ban on AI chips to China

Will September bring more gains than losses for Wall Street?

Welcome to the worst month of the year for Wall Street. Since 1950, September has brought an average loss of 0.5 per cent for the S and P 500. That's 10 times worse than the next-worst month, February. September is also the only month of the year over that span to turn in a loss more often than a gain. Other months see the S and P 500 rise more than three times out of five. Stretch the horizon even further, back to 1928 to include a world war, the Great Depression and completely different types of economies, and September is still the most frequent stinker for Wall Street. No clear reason explains September's struggle, though many hypotheses try. One suggests the return of many professional investors from summer vacations may add to the selling pressure, for example. Last year, the S and P 500 fell 4.8 per cent in September for its first loss in eight months. At the time, worries were brewing about when the Federal Reserve would take its foot off the economic stimulus ...