ST LOUIS FEDERAL RESERVE
Wall St Week Ahead: Earnings season to test hopes for broader stocks rally
The S&P 500 has rallied 16% so far in 2024, driven by a handful of massive stocks poised to benefit from emerging artificial intelligence technology. Only 24% of stocks in the S&P 500 outperformed the index in the first half, the third-narrowest six-month period since 1986, according to BofA Global Research strategists.
Global stocks hit peak level before US jobs data: Markets wrap
Global equities maintain record highs ahead of US jobs data. Markets anticipate potential Fed rate cuts. Emerging market equities benefit from soft US economic data. UK Labour Party projected to win big, impacting Conservative performance. France prepares for final round of parliamentary elections.
New credit card rules: HDFC Bank, Axis Bank, other banks customers cannot make credit card bill payments using PhonePe, Paytm
Credit card bill payment rules: As of July 1, customers with credit cards from major banks like HDFC Bank and Axis Bank will no longer be able to settle their credit card bills using third-party applications such as PhonePe, Amazon Pay, and Paytm.
D-St investors richer by over Rs 2 lakh crore as Sensex, Nifty extend record run
Indian benchmark indices Nifty50 and Sensex hit fourth consecutive record highs on Tuesday, driven by banking and IT stock gains, amid positive global market trends. Sensex rose 308 points to 77,301, while Nifty gained 92 points to 23,558.
D-St benchmarks settle at new peaks! Sensex rises 204 points; Nifty tops 23,350
Indian equity benchmarks reached new highs driven by US rate-sensitive IT stocks following softer-than-expected US inflation data, fueling anticipation of earlier interest rate cuts by the Federal Reserve.
Asian stocks build on Wall St records after US inflation data
Asian traders extended a rally across world markets Thursday as they welcomed figures showing US inflation slowed further last month, tempering concerns about the Federal Reserve's forecast of just one interest rate cut this year. However, the Fed later in the day released its keenly awaited "dot plot" outlook for interest rates, which showed that decision-makers saw just one cut this year -- down from three predicted in its previous guidance in March.
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Wall St cautious ahead of key inflation data, Fed meeting
This week's focus includes the Consumer Price Index inflation report for May and the conclusion of the Fed's two-day policy meeting, both scheduled for Wednesday. The central bank is expected to release updated economic and policy projections and is widely anticipated to hold interest rates steady. The S&P 500 trimmed its early losses, while gains in Microsoft, Amazon.com, and Broadcom helped lift the Nasdaq slightly higher. These stocks rose between 0.8% and 2.5%.
Wall St Week Ahead-Inflation, Fed meeting to give clues for US market direction
Political uncertainty may impact market stability. Early presidential debate raises concerns about 2024 election influence. Market attention shifts from economic data to political landscape.
Putin says Russia could deploy missiles in striking distance of the West
Russian President Vladimir Putin warned of deploying missiles near the US and its allies if Ukraine uses Western weapons. He emphasized Russia's nuclear capabilities and criticized NATO's stance on the conflict.
Wall Street stocks end slightly higher as weak jobs data supports rate cut
U.S. stocks rose on Tuesday as labor market data hinted at a Fed rate cut. Axos Financial dropped after Hindenburg Research shorted the stock.
Ahead of Market: 10 things that will decide D-St action on Monday
Nifty formed a long-legged Doji candle on the daily charts to breach a 5-day losing streak as it ended 42 points higher at 22,531. The 50-DMA is placed at around the 22,400 level, and a slip below this level could shift the test to the 22,300-22,260 zone.
Wall St Week Ahead-Struggling Dow transport stocks could be economic warning signal
The Dow Jones Transportation Average has fallen 5% this year, contrasting with the S&P 500 and Dow Jones Industrial Average. Chuck Carlson sees it as a barometer for economic activity, signaling a possible slowdown ahead.
Wall St Week Ahead-Inflation data, presidential debate could sink summer rally
The typical summer slowdown in U.S. stock markets may be more pronounced this year due to inflation jitters and an early presidential debate. The rally that pushed the S&P 500 near record highs may face challenges from Federal Reserve decisions and Treasury bond yield movements.
Wall Street muted at open with Fed minutes, Nvidia results on tap this week
The Dow Jones Industrial Average fell 13.83 points, or 0.03%, at the open to 39,989.76. The S&P 500 opened higher by 2.08 points, or 0.04%, at 5,305.35, while the Nasdaq Composite gained 16.06 points, or 0.10%, to 16,702.02 at the opening bell.
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.
Asia rides Wall St rally, dollar sags on US inflation relief
The data provided palpable relief to markets after higher-than-expected U.S. consumer prices in the first quarter had led to a sharp paring of rate cut bets, and even stoked some worries of an additional hike.
Indian national pleads guilty to attacking White House with rented truck
A 20-year-old Indian national living in the US as a permanent resident pleaded guilty to attacking the White House with a rented truck, intending to replace the democratic government with dictatorship. He planned the attack for weeks before crashing into barriers and brandishing a Nazi Swastika banner. He faces sentencing on August 23.
Wall St Week Ahead-US small caps struggle as elevated interest rates take a toll
Small cap stocks surged at the end of 2023, as expectations grew that the Fed was done raising interest rates and would soon begin easing monetary policy. That would be a welcome change for smaller companies, which rely more heavily on debt financing and consumer spending.
Wall St Falls, Yields Rise on Hot Labour Cost Data
Tesla dipped 5.2% following a 15% surge in the previous session after a report that CEO Elon Musk had dismissed two senior executives and plans to lay off hundreds more employees.
Wall St opens higher on easing bond yields; inflation data on tap
The Dow Jones Industrial Average rose 90.9 points, or 0.23%, at the open to 38983.66. The S&P 500 rose 14.6 points, or 0.28%, at the open to 5217.03, while the Nasdaq Composite rose 74.8 points, or 0.46%, to 16328.756 at the opening bell.
3 Fed rate cuts this year is best guess & base case: James Bullard
US Federal Reserve: Former President of the Federal Reserve Bank of St. Louis, James Bullard, predicts three rate cuts in the US this year, citing inflation nearing the central bank's target and economic strength. Market sentiments differ, with futures traders scaling back expectations amid evolving economic data and Federal Reserve Chair Jerome Powell's cautious approach.
US stocks gain, led by Dow as investors look for rate insight
Merck & Co advanced 4.96% as the best performer on the Dow after the U.S. Food and Drug Administration approved its therapy for adults suffering from a rare lung condition.
D-St slips ahead of US Federal Reserve meet, Budget
Analysts said traders are bracing for sharp swings around the budget announcement for FY25, the government's final one before the national elections this year. "We have seen a negative market trend on average in the past budgets since 2012, and today's decline too was just due to profit booking," said Apurva Sheth, head of research at Samco Securities.
Wall Street ends sharply higher, rebounding with a boost from chips
All three major U.S. stock posted gains as chips surged, led by Micron Technology after its better-than-expected quarterly forecast, putting the tech-heavy Nasdaq out front.
Wall St ends lower as investors weigh fresh employment data
Declines in energy stocks weighed on the major indexes, with oil prices dropping 4% as a larger-than-expected rise in U.S. gasoline inventories exacerbated worries about fuel demand.
Wall St muted at open as investors await more policy cues
US. stocks were subdued at open on Monday, ahead of a key inflation reading and commentary from Federal Reserve policymakers later in the week, while retailers were in focus as holiday shopping picked up steam with Cyber Monday deals. The Dow Jones Industrial Average fell 13.71 points, or 0.04%, at the open to 35,376.44.
Wall St futures edge lower as investors await data, policy cues
In the US, the investors will look out for the "Beige Book", the Fed's compendium of reports about the economy, on Wednesday. The personal consumption expenditure index data for October - the Fed's preferred inflation gauge - is slated to be released on Thursday. While traders have priced in the chances of a pause in rate hikes in December, they see a nearly 50% chance of at least one 25-basis point rate cut in May 2024, according to the CME FedWatch Tool.
Wall St ends mixed in truncated Black Friday trading
The S&P 500 closed nominally higher, while the Dow eked out a modest gain. The Nasdaq was dragged slightly lower by weakness in megacap momentum stocks.
US stock market: Wall Street gains on easing inflation, Target's upbeat forecast
Shares in Target surged 17.8% in its biggest one-day percentage gain since August 2019 after the retailer forecast a fourth-quarter profit largely above expectations on easing supply-chain costs.
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