Finance & Stock

Rich
3 Views · 16 days ago

The Australian sharemarket has closed sharply higher as the ASX200 gains more than 1 percent, with energy and lithium stocks powering ahead. Subscribe: http://ab.co/1svxLVE

ABC News provides around the clock coverage of news events as they break in Australia and abroad, including the latest coronavirus pandemic updates. It's news when you want it, from Australia's most trusted news organisation.

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Rich
2 Views · 16 days ago

Tim Seymour and Bonawyn Eison join CNBC's Melissa Lee and the Fast Money traders to discuss the Bank of England's warning that UK pension funds have three days to rebalance their assets. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2NGeIvi

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Rich
3 Views · 16 days ago

The Bank of England has raised interest rates by a quarter of a percentage point to 4.25% in response to higher than expected UK inflation. Subscribe: http://ab.co/1svxLVE

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Rich
3 Views · 16 days ago

#jobs #employment #stockmarket
Yahoo Finance Live anchors Julie Hyman, Brad Smith, and Diane King Hall break down April jobs report data.
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Rich
2 Views · 16 days ago

#stocks #inflation #YahooFinance #recession #bitcoin #Biden #Stockmarket #coronavirus #memestocks #Fed #YahooFinance #investing #stockmarket #bitcoin #crypto

To get the latest markets news check out finance.yahoo.com

U.S. stocks were mixed Monday as the earnings calendar is locked and loaded with heavyweights reporting in every sector.

The S&P 500 (^GSPC) edged up above the flatline at the open, while the Dow Jones Industrial Average (^DJI) added 0.21%. The technology-heavy Nasdaq Composite (^IXIC) ticked down by 0.18%

Government bonds fell. The yield on the 10-year note slid to 3.53%, while rate-sensitive two-year note yields also declined to 4.16% Monday morning.

This week will bring a flood of earnings including several big tech companies — Microsoft (MSFT), Meta (META), Amazon (AMZN), and Alphabet (GOOGL) — whose shares have pushed the S&P to rally so far this year.

Wall Street has been worried about a so-called earnings recession, with investors expecting a second-straight quarter of decline in profits from US companies. That has some strategists questioning if this year's market rally will run out of steam.

So far, earnings season is off to a solid start, as about 68% have reported a beat on EPS so far, down from a record 90% last week, according to a note from Bank of America.

Big bank earnings are in the rear view. But some regional lenders are still on tap, including First Republic Bank (FRC) reporting after the bell on Monday.

Meanwhile, Credit Suisse Group AG (CS) reported Monday its last-ever quarterly results. Even after UBS (UBS) agreed to buy out the ailing bank in March, Credit Suisse depositors withdrew nearly $75 billion.

Still, Wall Street remains concerned that the US economy will spiral into a recession as the Federal Reserve raises interest rates to cool inflation. Investors will be closely watching the first reading of Q1 GDP, out Thursday. Economists expect a 2.2% print, compared to a 2.6% in the last quarter of 2022.

“It’s getting harder to find an economic indicator that’s saying the economy isn’t already in a recession right now let alone on the verge of one,” the team at Bespoke Investment Group wrote in a note on April 21.

Other economic releases this week include consumer confidence, new home sales, durable goods orders, and the closely watched employment cost index. These will be the last big inflationary data points ahead of the Federal Open Market Committee's meeting next week.

Separately, after the volatility in energy markets this year, Wall Street's attention will turn to some of the largest players by the end of next week in oil, including Exxon (XOM), Chevron (CVX), Valero (VLO), and TotalEnergies SE (TTE).

Following four consecutive weeks of gains, crude oil retreated as data last week showed growing headwinds for the US economy. WTI Crude fell 5.63% for the week, while Brent crude broke a winning streak streak to finish down 5.39% on the week.

In single-stock moves, Bed Bath & Beyond Inc. (BBBY) filed for bankruptcy. The home goods seller and erstwhile meme-stock darling couldn’t raise enough money to stay afloat.

Shares of the Coca-Cola Company (KO) rose after the beverage company reported first quarter global sales increased 5% in the first three months of the year to $10.98 billion, beating analyst expectations for $10.8 billion.

Fox Corporation (FOXA) sank nearly 5% after the network said on Monday that its star primetime host Tucker Carlson "have agreed to part ways."

Overall, the narrative that we're going into recession is "very seductive," Baird Managing Director and Market Strategist Michael Antonelli told Yahoo Finance Live. But he noted that "companies are still performing pretty well."

Koninklijke Philips N.V. (PHIA.AS) shares surged after the Dutch health technology company Royal Philips announced it has set aside funds to cover possible litigation costs in the US related to the recall of 5.5 million faulty medical devices.

Shares of Sociedad Química y Minera de Chile S.A. (SQM) jumped following the Chilean’s President Gabriel Boric announcement on Friday of a new state-led strategy to develop its vast resources of lithium, which is vital for the development of electric vehicles.

For more on this article, please visit:
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Rich
4 Views · 16 days ago

#youtube #inflation #YahooFinance #recession #bitcoin #Biden #Stockmarket #memestocks #Fed #YahooFinance #investing #stockmarket #bitcoin #crypto

U.S. stocks fell on Wednesday after the Federal Reserve hinted at a potential pause to its rate-hiking campaign in June but indicated rate cuts were unlikely.

The S&P 500 (^GSPC) was down 0.7% at the market close, while the Dow Jones Industrial Average (^DJI) slid more than 200 points, or 0.8%. The technology-heavy Nasdaq Composite (^IXIC) fell 0.46%.

In addition to raising the target range for its benchmark interest rate by 0.25%, the Fed left its options open for June, saying future rate hikes would be dependent on the impact of previous rate hikes on the economy.

In Wednesday's statement, the Fed said, "in determining the extent to which additional policy firming may be appropriate to return inflation to 2% over time, the committee will take into account the cumulative tightening of monetary policy, the lags with which monetary policy affects economic activity and inflation, and economic an financial developments."

In March, the central bank had said it "anticipates that some additional policy firming may be appropriate in order to attain a stance of monetary policy that is sufficiently restrictive to return inflation to 2 percent over time."

At a press conference following the decision, Fed Chair Jerome Powell called the change to the statement "meaningful," noting that "we’ll be driven by incoming data."

Stocks ticked up on the initial news but lost steam when Powell commented on the prospect of cutting rates.

“We on the committee have a view that inflation is going to come down not so quickly,” Powell said, adding that “if that forecast is broadly right, it will not be appropriate to cut rates.”

Prior to the Fed decision, analysts had said inflation remains sticky, the labor market is still hot but softening, and the economy is resilient. Plus, recent bank failures could set up the case for a pause in June, along with the Treasury Department's new projections adding more caution to the mix as lawmakers may have less than a month to reach a debt-ceiling deal.

On Wednesday, government bonds fell sharply. The yield on the 10-year note dipped down to 3.35% while the two-year note yield slipped to 3.85%. Oil prices tumbled — futures for West Texas Intermediate, the U.S. benchmark, dropped more than 4% to $68.22 a barrel.

Separately, hiring at private companies unexpectedly rose by 296,000 for April, above economists call for 148,000, according to payroll processing firm ADP. Other data out on Wednesday showed that ISM services PMI increased to 51.9 in April from 51.2 in March and slightly above economists estimates of 51.8.

Here are some of the trending tickers on Yahoo Finance:

Ford Motor Company (F): The carmaker’s EV unit registered a $722 million quarterly loss. The automaker is nonetheless slashing the price of its all-electric Mustang Mach-E.

CVS Health Corporation (CVS): The company posted a rise in sales during its first quarter as it closed its $10.6 billion deal for Oak Street Health’s 600 primary-care centers.

Eli Lilly and Company (LLY): The pharmaceutical company announced positive results on its drug donanemab, which had significantly slowed the progression of Alzheimer’s disease symptoms.

Starbucks Corporation (SBUX): The coffee giant posted second-quarter earnings and sales expectations and notched comparable-store sales growth in China.

Icahn Enterprises L.P. (IEP): Billionaire Carl Icahn got the Hindenburg Research treatment. The short-selling research firm deemed the activist investor’s fund to be inflated by 75% or more.

The Estée Lauder Companies Inc. (EL): The beauty brand forecasted a bigger drop in full-year sales and profit on Wednesday, hurt by a slowdown in China and reduced inventory levels by retailers in the U.S.

Advanced Micro Devices, Inc. (AMD): The chipmaker reported a drop in margins and provided a forecast that didn’t give much indication for improvement.

For more on this article, please visit:
https://finance.yahoo.com/news..../stock-market-news-t



To get the latest markets news check out finance.yahoo.com

Rich
5 Views · 16 days ago

The Australian share market has ended its day higher, for the third day in a row, despite investors' ongoing worries about the stability of the US banking sector. Subscribe: http://ab.co/1svxLVE

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Rich
2 Views · 16 days ago

The share market ended the week higher, while appetite for housing loans continues to fall. Subscribe: http://ab.co/1svxLVE Read more here: https://ab.co/3gYeNwz

ABC News provides around the clock coverage of news events as they break in Australia and abroad, including the latest coronavirus pandemic updates. It's news when you want it, from Australia's most trusted news organisation.

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Rich
1 Views · 16 days ago

The Australian stock market fell on Tuesday, despite gains on Wall Street, while European markets have been mostly lower. Meeting minutes provided insight into the Reserve Bank's decision to pause rate hikes in April, revealing it was a close call. Subscribe: http://ab.co/1svxLVE Read more here: https://ab.co/3UJWkmW

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Rich
1 Views · 16 days ago

Reacting to the collapse of Silicon Valley Bank and fears about the banking system on "Forbes Newsroom," Steve Forbes looked to history to gauge whether we are facing another 2008-like financial collapse.

Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:

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Rich
0 Views · 16 days ago

The Australian share market has closed higher after Westpac shares jumped after the bank posted a $4 billion profit in its half-yearly results — up 22 per cent compared to this time last year. Subscribe: http://ab.co/1svxLVE Read more here: https://ab.co/41daZZx

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Rich
1 Views · 16 days ago

#firstrepublic #youtube #banking
Yahoo Finance Live’s Brad Smith breaks down a timeline of events that led to the collapse of First Republic Bank.
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Rich
1 Views · 16 days ago

#parcham #parchamclasses #parchamweeklycurrentaffairs

Hello friends, in this video we will discuss the Important Finance & Economic Current Affairs Weekly (April Week 4). In order to watch daily current affairs for previous dates, weeks, and months, you may follow the links given below.

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Rich
1 Views · 16 days ago

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Rich
1 Views · 16 days ago

Josh Brown, Jenny Harrington, Joe Terranova join 'Halftime Report' to discuss how the debt ceiling debate is impacting the bond market, market resilience despite economic headwinds, and post-pandemic distortions in the labor market. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2NGeIvi 

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Rich
0 Views · 16 days ago

#stocks #inflation #YahooFinance #recession #bitcoin #Biden #Stockmarket #memestocks #Fed #YahooFinance #investing #stockmarket #bitcoin #crypto

To get the latest markets news check out finance.yahoo.com

U.S. stocks wavered on Wednesday as Wall Street prepared for an interest rate decision from the Federal Reserve due later in the day.

The S&P 500 (^GSPC) added 0.14% during midday trading, while the Dow Jones Industrial Average (^DJI) ticked below the flatline. The technology-heavy Nasdaq Composite (^IXIC) edged up 0.33% at 12:01 pm ET.

Federal Reserve officials kicked off a two-day policy meeting on Tuesday morning that is widely expected to end with another quarter-point interest rate hike. That would bring the federal funds rate target range to 5%-5.25%, marking the first time it topped the 5% mark since the lead-up to the global financial crisis. The bigger question is what officials may signal about another potential tightening at their June meeting.

Some market participants have anticipated Wednesday’s expected rate hike could be the last of the cycle. But Chairman Jerome Powell could confirm or steer away from those assumptions.

The Fed will announce its latest policy decision Wednesday at 2 p.m. ET. Powell is set to hold a press conference at 2:30 p.m. ET.

Analysts say inflation remains sticky, the labor market is still hot but softening, and the economy is resilient. Plus, recent bank failures could set up the case for a pause, along with the Treasury Department's new projections adding more caution to the mix as lawmakers may have less than a month to reach a debt-ceiling deal.

“Today was always likely to mark the end of the US central bank's tightening cycle — not that it has explicitly signaled this — but we've now reached a stage in which every rate hike could have unwanted and unintended consequences,” Craig Erlam, Senior Market Analyst at OANDA, wrote in a research note.

“With that in mind, it would be perfectly reasonable to pause today especially when we're already starting to see signs of the labor market softening and inflation easing,” Erlam added.

On Wednesday, government bonds were lower. The yield on the 10-year note ticked down to 3.38% while the two-year note yield dipped to 3.9%. Oil prices fell — futures for West Texas Intermediate, the U.S. benchmark, dropped 5% to $68.05 a barrel — below $70 for the first time since March.

Meanwhile, the sale of First Republic Bank’s assets to JPMorgan (JPM) on Monday did not appear to have quelled investor fears in the banking sector.

The S&P 500 regional banking index (KRE) rose more than1% Wednesday after falling on Tuesday. A handful of individual regional bank stocks that bore the brunt of sell orders Tuesday, including shares of PacWest Bancorp (PACW), rallied as much as 5%.

Separately, hiring at private companies unexpectedly rose by 296,000 for April, above economists call for 148,000, according to payroll processing firm ADP. Other data out on Wednesday showed that ISM services PMI increased to 51.9 in April from 51.2 in March and slightly above economists estimates of 51.8.

Here are some of the trending tickers on Yahoo Finance:

Ford Motor Company (F): The carmaker’s EV unit registered a $722 million quarterly loss. The automaker is nonetheless slashing the price of its all-electric Mustang Mach-E.

CVS Health Corporation (CVS): The company posted a rise in sales during its first quarter as it closed its $10.6 billion deal for Oak Street Health’s 600 primary-care centers.

Starbucks Corporation (SBUX): The coffee giant’s posted second-quarter earnings and sales expectations and notched comparable-store sales growth in China.

Icahn Enterprises L.P. (IEP): Billionaire Carl Icahn got the Hindenburg Research treatment. The short-selling research firm deemed the activist investor’s fund to be inflated by 75% or more.

The Estée Lauder Companies Inc. (EL): The beauty brand forecasted a bigger drop in full-year sales and profit on Wednesday, hurt by a slowdown in China and reduced inventory levels by retailers in the U.S.

Advanced Micro Devices, Inc. (AMD): The chipmaker reported a drop in margins and provided a forecast that didn’t give much indication for improvement.

Rich
1 Views · 16 days ago

It was a strong day for mining companies on the local market – unless they were lithium stocks or companies which supply raw materials for Tesla. Subscribe: http://ab.co/1svxLVE The electric car maker’s share price plunged 11 per cent overnight.

ABC News provides around the clock coverage of news events as they break in Australia and abroad, including the latest coronavirus pandemic updates. It's news when you want it, from Australia's most trusted news organisation.

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Rich
1 Views · 16 days ago

Wall Street investors remain braced for a recession. But a turndown hasn't yet materialized, due to strong demand from U.S. consumers. Spending makes up roughly 68% of the U.S. economy. It's remained strong amid high inflation as high-income Americans draw down generous savings accrued in the pandemic. Lower-income Americans who may have exhausted their pandemic savings are increasingly turning to credit cards to finance daily life.

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How The U.S. Is Stalling A Recession

Rich
0 Views · 16 days ago

Elon Musk said he found a new chief executive for Twitter without naming the person and that he will transition to the role of chief technology officer of the social media platform within the next few weeks.

#News #Reuters #newsfeed #elonmusk #twitter #tesla #technology #business

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Rich
1 Views · 16 days ago

Australian Finance Minister Katy Gallagher discusses the government's budget and the economy. Australia's budget will return to a surplus for the first time since the 2008 global financial crisis, before higher interest rates weigh on economic growth and push the government's books back into the red. Gallagher speaks with Paul Allen on "Bloomberg Daybreak: Australia."

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