Latest news with #Fedwatch
Business Recorder
04-07-2025
- Business
- Business Recorder
S&P 500, Nasdaq close at records on jobs data
NEW YORK: The S&P 500 and the Nasdaq closed at record highs on Thursday after a stronger-than-expected US jobs report, while Nvidia shares spiked and its valuation neared $4 trillion. Traders quickly priced out chances of an interest-rate cut in July, with the odds of a 25-basis-point reduction in September at 68%, according to CME Group's Fedwatch tool, down from 74% a week ago. 'We are seeing a real bout of irrational exuberance, the stock market is very biased towards optimism,' said Kristina Hooper, Chief Market Strategist at Man Group in New York. 'But there's some basis for it. I think there is some level of relief, because the jobs report was not what could have been'. Unofficially, the Dow Jones Industrial Average rose 344.11 points, or 0.77%, to 44,828.53, the S&P 500 rose 51.94 points, or 0.83%, to 6,279.36 and the Nasdaq Composite rose 207.97 points, or 1.02%, to 20,601.10. Nvidia's market capitalization neared $4 trillion. Data showed nonfarm payrolls increased by 147,000 jobs last month, 33% more than the 110,000 jobs forecasted by economists polled by Reuters. Unemployment fell to 4.1% last month, a better result than the 4.3% expected. The report was released a day early because of the Independence Day holiday on Friday. Trading volumes were lighter than usual on Thursday with markets due to close early, at 1 p.m. ET. Separate data showed the number of Americans filing new applications for jobless benefits fell to a six-week low last week and US services sector activity picked up in June as orders rebounded but employment contracted for the third time this year, underlining the impact of policy uncertainty on businesses. Meanwhile, Republicans in the US House of Representatives advanced President Donald Trump's massive tax-cut and spending bill toward a final yes-or-no vote, appearing to overcome internal party divisions over its cost. The legislation is expected to add $3.4 trillion to the nation's $36.2 trillion in debt over the next decade, according to nonpartisan analysts. TripAdvisor climbed after the Wall Street Journal reported activist investor Starboard Value had built a more than 9% stake in the online travel company. Datadog jumped after the cloud security firm was set to replace Juniper Networks on the S&P 500.
Perth Now
03-07-2025
- Business
- Perth Now
S&P 500, Nasdaq new record highs on strong labour data
The S&P 500 and the Nasdaq have touched fresh record highs after a stronger-than-expected jobs report pointed to a resilient labour market amid concerns about US President Donald Trump's tariff policies potentially weighing on the economy. Nvidia was trading at a record high, up 2.2 per cent, and was track to become the most valuable company in history, with the chipmaker's market capitalisation nearing $US4 trillion ($A6.1trillion). Data showed nonfarm payrolls increased by 147,000 jobs last month after an upwardly revised 144,000 advance in May, while economists polled by Reuters had forecast payrolls rising 110,000. Unemployment fell to 4.1 per cent last month, against expectations of a rise to 4.3 per cent. "We were all expecting the hard data would start to show some cracks, and we really haven't seen that with the jobs report coming in much better than expected," said Brian Klimke, chief market strategist at Cetera Investment Management LLC. "That just puts the Fed on pause and gives it more time to wait right now because the labour market is really resilient." Traders quickly priced out chances of an interest-rate cut in July, with the odds of a 25-basis-point reduction in September at 69.2 per cent, according to CME Group's Fedwatch tool, down from 74 per cent a week ago. The data was released a day early because of the Independence Day holiday on Friday. Trading volumes were lighter than usual on Thursday with markets due to close early. Another dataset showed the number of Americans filing new applications for jobless benefits fell to a six-week low last week. US services sector activity picked up in June as orders rebounded but employment contracted for the third time this year, underlining the impact of policy uncertainty on businesses. The S&P 500 and Nasdaq extended their record-winning session as signs of a resilient economy and easing trade tensions following a series of agreements between the United States and other countries continue to propel stocks higher. Meanwhile, the blue-chip Dow was just 0.8 per cent below all-time highs touched in December. All three main indexes were on track to end the holiday-truncated week on a positive note, if gains hold. Meanwhile, Republicans in the US House of Representatives advanced President Donald Trump's massive tax-cut and spending bill toward a final yes-or-no vote, appearing to overcome internal party divisions over its cost. The legislation is expected to add $US3.4 trillion ($A5.2 trillion) to the nation's $US36.2 trillion ($A55.1 trillion) in debt over the next decade, according to nonpartisan analysts. In early trading on Thursday, the Dow Jones Industrial Average rose 284.02 points, or 0.64 per cent, to 44,769.03, the S&P 500 gained 41.23 points, or 0.67 per cent, to 6,268.65, and the Nasdaq Composite gained 161.74 points, or 0.79 per cent, to 20,554.87. Shares of chip design software firms Synopsys and Cadence Design Systems climbed three per cent and 3.7 per cent, respectively, in premarket trading after the US lifted export restrictions on chip design software to China, signaling a thaw in trade tensions between the world's top two economies. Tripadvisor climbed 15 per cent after the Wall Street Journal reported activist investor Starboard Value had built a more than nine per cent stake in the online travel company. Datadog jumped 9.4 per cent after the cloud security firm was set to replace Juniper Networks on the S&P 500. US solar stocks jumped in early trading, with First Solar rising about 10 per cent to become the top-performing individual stock on the S&P 500 index. Advancing issues outnumbered decliners by a 2.53-to-1 ratio on the NYSE, and by a 2.29-to-1 ratio on the Nasdaq. The S&P 500 posted 36 new 52-week highs and one new low, while the Nasdaq Composite recorded 85 new highs and 13 new lows.
Yahoo
17-06-2025
- Business
- Yahoo
Wall Street futures edge lower as Mideast conflict continues
(Reuters) -U.S. stock index futures edged lower on Tuesday as conflict in the Middle East entered its fifth day, dampening global investor confidence ahead of the Federal Reserve's upcoming policy meeting. Iran and Israel's air war, which began on Friday when Israel attacked Iran's nuclear facilities, has raised concerns that the conflict could create bottlenecks for oil exports from the oil-rich Middle East. U.S. energy stocks rose in premarket trading as oil prices remained elevated on the uncertainty. Shares of Chevron and Exxon were up nearly 1% each. The surge in oil prices comes ahead of the Fed's monetary policy decision on Wednesday, when policymakers are widely expected to keep interest rates unchanged. Money market moves show traders are pricing in about 48 basis points of rate cuts by the end of 2025, with a 59% chance of a 25-bps rate cut in September, according to CME Group's Fedwatch tool. At 5:33 a.m. ET, Dow E-minis were down 269 points, or 0.63%, S&P 500 E-minis were down 37.25 points, or 0.62%. Nasdaq 100 E-minis were down 138.5 points, or 0.63% U.S. Senate Republicans late on Monday unveiled proposed changes to President Donald Trump's sweeping tax-cut bill that had cleared the House of Representatives in May. "The Senate's version of tax legislation looks broadly similar to the House-passed version in its near-term fiscal effects but would likely cost ... a few hundred billion dollars more over the next decade," said Goldman Sachs strategists in a note. Solar stocks dipped after the Senate's changes to Trump's tax-cut bill revealed a phase-out of solar, wind and energy tax credits by 2028. Shares of Enphase Energy, which makes solar inverters, dropped 17%. Solar panel sellers Sunrun fell 27.5% and SolarEdge Technologies dropped more than 21.6%. First Solar lost nearly 11%. Shares of nuclear power companies rose after the Senate extended credits for nuclear energy to 2036. Oklo was up 1.9% and Nano Nuclear Energy rose 2.2%. As investors flock to traditional safe-haven assets amid heightened geopolitical uncertainty, a rise in U.S. Treasuries pushed yields lower across the curve. Yields on the benchmark 10-year fell about 3 basis points to 4.42%. Among other movers, Eli Lilly is in advanced talks to acquire gene editing startup Verve Therapeutics for up to $1.3 billion, according to a report. Shares of the drugmaker fell 1.2%, while Verve advanced 82.9%. Key data for the day includes monthly retail sales and import prices scheduled at 08:30 a.m. ET. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Qatar Tribune
17-06-2025
- Business
- Qatar Tribune
Wall Street climbs as oil prices ease, Fed meeting in focus
Agencies New York US stock indexes rose on Monday as oil prices fell after the Israel-Iran attacks left crude production and exports unaffected, allaying investor concerns ahead of a central bank policy meeting. Crude prices, retreated more than 3 percent on reports that Iran is seeking an end to hostilities with Israel, raising the possibility of a truce and easing fears of a disruption to crude supplies from the region. Oil prices surged more than 7 percent on Friday after Israel began bombing Iran. Tehran has asked Qatar, Saudi Arabia and Oman to press US President Donald Trump to use his influence with Israel to agree to an immediate ceasefire, in return for Iran's flexibility in nuclear negotiations, sources told Reuters. This follows a Wall Street Journal report earlier in the day that Iran was urgently signaling that it sought an end to hostilities. 'The market has already priced in some of the worst fears in terms of the energy markets getting disrupted, or this kind of spreading to be a wider conflict. So now, people are just buying the dip,' said Chris Zaccarelli, chief investment officer at Northlight Asset Management. Focus will shift to the US Federal Reserve's monetary policy decision on Wednesday, when policymakers are widely expected to keep interest rates unchanged. Money markets showed traders pricing in about 48 basis points of rate cuts by the end of 2025, with a 56 percent chance of a 25-bps reduction in September, according to CME Group's Fedwatch tool. Key data expected this week includes monthly retail sales, import prices and weekly jobless claims. The Dow Jones Industrial Average rose 409.76 points, or 0.97 percent, to 42,607.55, the S&P 500 gained 66.23 points, or 1.11 percent, to 6,043.19, and the Nasdaq Composite gained 300.92 points, or 1.55 percent, to 19,707.75 points. Nine of the 11 major S&P 500 sub-sectors rose, with information technology and financials adding 1.7 percent each. Energy was down 0.7 percent. The Philadelphia SE Semiconductor index advanced 3.1 percent. Advanced Micro Devices rose 9.5 percent, Super Micro Computer gained 5.8 percent and Palantir Technologies was up 3.8 percent. Most megacap and growth stocks rose. Meta advanced 2.9 percent on plans to roll out new WhatsApp updates over the next few months and Nvidia was up 2.7 percent. UPS and FedEx edged up about 1 percent after the Trump Organization launched a self-branded mobile network, dubbed Trump Mobile, and named the companies as shipping partners. Shares of Sarepta Therapeutics plunged 45 percent after the company disclosed a second case of a patient dying due to acute liver failure after receiving its gene therapy for a rare form of muscular dystrophy. US Steel rose 5.1 percent after Trump approved Nippon Steel's $14.9 billion bid for the company. Cisco gained 2.3 percent after Deutsche Bank upgraded the communications equipment maker to 'buy' from 'hold'. Advancing issues outnumbered decliners by a 3.24-to-1 ratio on the NYSE and by a 2.53-to-1 ratio on the Nasdaq. The S&P 500 posted 16 new 52-week highs and five new lows, while the Nasdaq Compositerecorded 66 new highs and 86 new lows.
AU Financial Review
16-06-2025
- Business
- AU Financial Review
ASX to edge up; Wall Street recovers as oil threat recedes
Australian shares are poised to edge upwards, tracking Wall Street as oil prices fell after the Israel-Iran attacks left crude production and exports unaffected, allaying investor concerns. Crude prices retreated more than 3% on reports that Iran is seeking an end to hostilities with Israel. The week's big financial highlight is the US Federal Reserve rates decision. The Fed is expected to hold rates steady - investors will focus on chairman Jerome Powell's comments after the decision. Money market moves show traders are pricing a 56% chance of a 0.25 percentage point rate cut in September, according to CME Group's Fedwatch tool. 'We expect the median participant to take on a more stagflationary flavor following April's tariff surprises, despite eased financial conditions from the weaker dollar, with higher inflation and downgraded GDP growth in 2025,' Barclays strategists said in a note. 'The dot plot is likely to show delayed rate cuts, with just one this year and three in 2026.' The Reserve Bank of Australia will look through any temporary spike in inflation caused by higher oil prices, as economists warn that an escalation of the war between Israel and Iran could trigger a financial market meltdown. Market highlights ASX futures are pointing up 6 points or 0.1 per cent to 8566 All US prices are as of New York time. Tuesday's agenda The first of three big central bank decisions starts with the Bank of Japan delivering its interest rate decision this morning. Traders expect no change to rates. NZ releases select price index data. Top stories Security a major focus as Albanese, G7 confront a turbulent world | Security deals are among the first order of business as world leaders, including Donald Trump and Anthony Albanese, gather for the G7. A trifecta of bids from a trifecta of buyers. Welcome to Santos' unique world. | Unions want a right to refuse to use AI if it's not in the public interest in measures that may clash with the Labor's light-touch approach at its productivity roundtable.
