RATE CUT HOPES
S&P 500, Nasdaq post record closing highs as data stokes hope for rate cut
Exciting market dynamics unfold as Paramount Global, National Amusements, and First Foundation make significant moves, shaping investor sentiment and market trends.
S&P 500, Nasdaq post record closing highs as data feeds rate cut hopes
U.S. stocks closed mixed on Wednesday, with the S&P 500 and Nasdaq reaching record highs due to optimism about potential Federal Reserve interest rate cuts in September spurred by signs of a slowing economy. However, the Dow Jones Industrial Average remained relatively flat, weighed down by healthcare and consumer stocks in a shortened trading session ahead of the Fourth of July holiday.
US inflation cools in May, boosting hopes of Fed rate cut
May's stable inflation, influenced by service costs and goods prices, sets the stage for potential Federal Reserve interest rate changes. The report highlights slight consumer spending growth and hints at the Fed's aim for a controlled economic slowdown through core inflation moderation.
Wall Street ends lower as investors digest inflation data, presidential debate
Market dynamics were influenced by strategic acquisitions like Nokia's deal with Infinera, impacting trading volume. Sector performances varied, with energy and real estate sectors showing resilience, while utilities and communications services faced declines.
Charting the global economy: BOE leaves rate-cut hopes alive
The Bank of England hinted at possible interest-rate cuts as some officials are leaning towards it, despite keeping rates steady at 5.25%.
Brent rises toward $86 as cooling US jobs market buoys rate cut hopes
Oil futures hit a seven-week high on Thursday as fresh data on a cooling U.S. jobs market added to hopes that the Federal Reserve could still cut interest rates this year.
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Delta Corp shares surge 15% on GST cut hopes
Shares of Delta Corp, the sole listed company in India's casino gaming industry, saw a significant surge of nearly 15%. This increase in stock price came amidst expectations that the Goods and Services Tax (GST) Council might review the tax structure applicable to online gaming in its upcoming meeting scheduled for June 22.
Asian stocks rise on tech rally, Fed rate cut wagers
Asian shares rose to a three-week high driven by tech stock rally as the dollar struggled post soft U.S. retail sales data, hinting at potential Fed rate cuts.
Rate cut hopes, inclusion in JPM index fuel ‘FOMO’ trades in GSecs
Indian sovereign debt players bond with bonds following Mint Road's move to decelerate rate-increase drive and JPMorgan's recognition. CCIL data shows a 40% increase in monthly trades, reaching ₹8.6 lakh crore in 2023.
5 world market themes for the week ahead
Central bank decisions in Britain, Switzerland, and Norway will show the rate cutting trend, while retail sales data from the US and China will indicate consumer health. Europe gears up for the Euros 2024 tournament in Germany. Investors are monitoring cocoa supply issues in Ivory Coast, Ghana, and other countries like Brazil.
Oil rises on hopes of summer fuel demand
Goldman Sachs analysts expect Brent to rise to $86 a barrel in third quarter, saying in a report that solid summer transport demand will push the oil market into a third-quarter deficit of 1.3 million barrels per day (bpd).
Inflation, Fed meeting to give clues for US market direction
Investors await next week's inflation data and Fed meeting for signals on stock market trajectory amid conflicting economic signals. S&P 500's 12% YTD rise hinges on Fed's ability to manage inflation without hampering growth.
Electoral shock dashes hopes of rate cut
Food inflation challenges RBI, impacting rate cuts. Elections, populist spending, and fiscal landscape influence rate cut decisions.
Asian shares retreat as investors question US economic strength
Asian share markets weakened as U.S. economy's 'exceptionalism' unravels with weakening manufacturing activity. MSCI's Asia-Pacific index down 0.1%. U.S. Treasury yields fall after weak manufacturing data. Westpac economist Coombs sees market pricing 40 basis points rate cuts by 2024.
Gold firms on Fed rate cut hopes; investors await more US data
Gold prices edged higher on Monday as signs of cooling U.S. inflation lifted hopes for interest rate cuts from the Federal Reserve this year, while traders awaited a slew of U.S. economic data due this week.
Cryptocurrency price on June 3: Bitcoin approaches $69k on renewed US rate cut hopes
Cryptocurrencies surge as U.S. inflation stabilizes, hinting at Fed rate cuts. BTC and ETH prices rise with a market cap at $2.56 trillion. CEOs anticipate positive momentum amid moderate growth and weak consumer spending.
Asia shares rally on hopes for more rate cuts this week
Asian share markets rose on Monday as investors anticipated rate cuts by the European Central Bank and possibly the Bank of Canada. Sticky inflation may prolong the easing process.
Asian markets fall after US data dent rate cut hopes
Asian markets fell on Friday following Wall Street's sell-off triggered by strong US data, raising concerns about the Federal Reserve delaying interest rate cuts.
D-Street off to a muted start as Fed minutes dim rate cute hopes
Nifty and Sensex opened flat on Thursday after disappointment in recent inflation data from the Federal Reserve, dampening hopes of an early rate cut. BSE Sensex traded 24 points higher at 74,245, while Nifty50 was at 22,604. Federal Reserve officials expressed concern about inflation persisting above the 2% target.
US stocks range-bound with weekly gains in sight on rate-cut hopes
The S&P 500 and Nasdaq were on course for a fourth straight week of gains, while the blue-chip Dow was on track for its fifth weekly advance, supported by strong quarterly results and slowing inflation data that has bolstered the case for rate cuts from the Federal Reserve. All three main indexes touched record highs on Thursday and the Dow briefly crossed the 40,000 milestone, before reversing gains and closing in the red.
Dow tops 40,000 for first time amid rate cut hopes
The blue-chip index has recovered nearly 40% from its October 2022 lows, powered by strong quarterly results and rising bets of interest rate cuts by the Federal Reserve. At 11:28 a.m. ET, the Dow Jones Industrial Average was up 112.55 points, or 0.28%, at 40,020.55, the S&P 500 was up 13.11 points, or 0.25%, at 5,321.26, and the Nasdaq Composite was up 35.67 points, or 0.21%, at 16,778.06.
Sensex jumps 350 points, Nifty tops 22,300 as US inflation data spurs rate cut hopes
Indian benchmark indices, BSE Sensex and Nifty50, rose on positive global cues after US consumer inflation data. Nifty IT index surged 1.6%, led by Mphasis, Tech Mahindra, and Infosys. Nifty Pharma lagged, while Jindal Stainless fell 10% on softer steel prices. Markets expect two rate cuts in 2024, based on CMEGroup's FedWatch tool.
Pakistan shares hit fresh record on rate cut hopes, IMF talks
Pakistan's benchmark share index touched a lifetime high on Wednesday, breaching the key level of 75,000, on hopes that easing inflation could pave the way for interest rate cuts as early as June.
Gold edges higher as markets count on Fed rate-cut hopes
Financial markets expect the U.S. central bank to start its easing cycle in September. Lower interest rates reduce the opportunity cost of holding gold.
Gold set for weekly gain on US rate-cut hopes
Financial markets expect the Fed to start its easing cycle in September. Lower interest rates reduce the opportunity cost of holding gold.
Dow closes up to make it seven in a row, as jobs data boosts rate-cut hopes
U.S. Federal Reserve policy has been the main driver of investor sentiment in 2024. Renewed hopes the central bank will cut rates have pushed the Dow to its biggest rally since December. It closed at its highest since April 1.
S&P, Dow end slightly up, extend closing streaks despite Disney drag
The advances pushed the S&P 500 to a fourth straight higher close, and its best winning run since March. For the Dow , it is now on its longest positive run since December 2023, gaining for the fifth session in a row.
US stocks extend gains as rate-cut hopes linger
Walt Disney fell 9.7%, on track for its biggest percentage fall since November 2022, as a surprise profit in its streaming entertainment division was eclipsed by a drop in its traditional TV business and weaker box office. Despite Disney's drag, the three main U.S. stock indexes were trading at a more than three-week high after a weaker-than-expected labor market report last week fueled bets that the U.S. central bank will cut rates.
Wall Street rises on growing hopes for Fed rate cuts
The Dow Jones Industrial Average rose 86.8 points, or 0.22%, at the open to 38762.43. The S&P 500 rose 14.6 points, or 0.29%, at the open to 5142.42, while the Nasdaq Composite rose 52.2 points, or 0.32%, to 16208.537 at the opening bell.
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