Latest news with #economicdata
Yahoo
17 hours ago
- Business
- Yahoo
Cotton Pops Higher: Is the Downtrend in Prices Really Over?
December cotton futures (CTZ25) present a buying opportunity on more price strength. See on the daily bar chart for December cotton futures that this week's gains have negated a price downtrend as prices Thursday hit a three-week high. See, too, at the bottom of the chart that the moving average convergence divergence (MACD) indicator has just produced a bullish line crossover signal, whereby the red MACD line has crossed above the blue trigger line. Coffee Prices Extend 2-week Plunge as Frost Risks Recede in Brazil Have the Wheels Fallen Off the Corn Market? Coffee Prices Continue to Fall on Reduced Frost Risk in Brazil Get exclusive insights with the FREE Barchart Brief newsletter. Subscribe now for quick, incisive midday market analysis you won't find anywhere else. Fundamentally, rallying U.S. stock indexes and recent, mostly upbeat U.S. economic data, have been friendly for the cotton market, suggesting better U.S. consumer demand for apparel. Recent economic stimulus measures from China also hint of an improving Chinese economy that will mean more demand for U.S. cotton. A move in December cotton futures prices above chart resistance at Thursday's high of 68.76 cents would become a buying opportunity. The upside price objective would be 74.00 cents, or above. Technical support, for which to place a protective sell stop just below, is located at this week's low of 66.27 cents. IMPORTANT NOTE: I am not a futures broker and do not manage any trading accounts other than my own personal account. It is my goal to point out to you potential trading opportunities. However, it is up to you to: (1) decide when and if you want to initiate any trades and (2) determine the size of any trades you may initiate. Any trades I discuss are hypothetical in nature. Here is what the Commodity Futures Trading Commission (CFTC) has said about futures trading (and I agree 100%): Trading commodity futures and options is not for everyone. IT IS A VOLATILE, COMPLEX AND RISKY BUSINESS. Before you invest any money in futures or options contracts, you should consider your financial experience, goals and financial resources, and know how much you can afford to lose above and beyond your initial payment to a broker. You should understand commodity futures and options contracts and your obligations in entering into those contracts. You should understand your exposure to risk and other aspects of trading by thoroughly reviewing the risk disclosure documents your broker is required to give you. On the date of publication, Jim Wyckoff did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on 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
Globe and Mail
a day ago
- Business
- Globe and Mail
Stocks Slump as Gold Falls
Canada's main stock index opened lower on Friday, dragged by losses in heavyweight mining shares after gold fell to a near one-month low, while investors assessed a mixed bag of economic data. The TSX Composite Index declined 49.86 points to open Friday at 26,702.09 The Canadian dollar retreated 0.02 cents to 73.28 cents U.S. Global investor sentiment was lifted after a White House official said late on Thursday that Washington has reached an agreement with China on how to expedite rare earths shipments to the U.S. On the economic front, Statistics Canada reports real gross domestic product edged down 0.1% in April, driven in large part by declines in the manufacturing and wholesale trade sectors. ON BAYSTREET The TSX Venture Exchange slid 7.82 points, or 1.1%, to 720.97. Still, eight of the 12 TSX subgroups gained, with health-care ahead 2%, real-estate chugging 0.6%, and utilities better by 0.4%. The four laggards were weighed most by gold, duller by 3.6%, materials, off 2.8%, and consumer staples dipping 0.3%. ON WALLSTREET The S&P 500 rose to a new record on Friday, the culmination of an improbable turnaround for U.S. stocks this year as they overcame trade turmoil and geopolitics to reclaim the record set in February. Friday's gain was driven by hope that trade deals with China and other countries are coming soon. The Dow Jones Industrials zoomed 314.95 points to 43,701.79. The much-broader index advanced 33.1 points to begin the week's last session at 6,174.12. The NASDAQ Composite tacked on 119.13 points to 20,287.04, also a new record high. Late Thursday, Commerce Secretary Howard Lutnick told Bloomberg News that a framework between China and the U.S. on trade had been finalized. Lutnick added that the Trump administration expects to reach deals with 10 major trading partners imminently. President Donald Trump also said Thursday 'we just signed with China yesterday.' A White House official later clarified he meant China agreed to 'an additional understanding of a framework to implement the Geneva agreement.' China's Ministry of Commerce also said Friday that the two countries had confirmed a trade framework that would allow the export of rare earths to the U.S. and ease tech restrictions. After rising to a new high in February on hopes for business-friendly policies from Trump, stocks tumbled as the president decided to instead implement stiff tariffs first. At its low in April, the S&P 500 was down nearly 18% for 2025. The benchmark then began a stunning comeback after Trump walked back his stiffest tariff rates and the U.S. began negotiations for trade deals. Nvidia hit an all-time high again on Friday, up 0.9%. Microsoft notched a new record as well before hovering around the little-changed mark. Prices for the 10-year treasury dropped slightly, raising yields to 4.26% from Thursday's 4.24%. Treasury prices and yields move in opposite directions. Oil prices resurged 52 cents to $65.76 U.S. a barrel.
Argaam
a day ago
- Business
- Argaam
Fed's preferred inflation gauge rises to 2.7% in May
The latest reading of the Federal Reserve's preferred inflation gauge showed price increases accelerated in May. The core Personal Consumption Expenditures (PCE) price index — the Federal Reserve's preferred inflation gauge — rose by 2.7% year-on-year in May, compared to a 2.5% increase in April, above expectations of a 2.6% rise, official data released on Friday showed. The headline PCE index — which includes volatile food and energy components — increased by 2.3% year-on-year last month, following a 2.1% rise in April, in line with forecasts. On a monthly basis, the core PCE index rose by 0.2%, while the headline index edged up by 0.1%, according to the data. The report also showed that personal consumption expenditures fell by $27.6 billion last month, with personal savings reaching around $1.01 trillion. The data reflects a $19.9 billion decline in spending on services and a $49.2 billion drop in spending on goods.
Yahoo
a day ago
- Business
- Yahoo
Jobs data, trade and fiscal policies in focus with S&P 500 on cusp of record
By Lewis Krauskopf NEW YORK (Reuters) -Investors who have been captivated by recent geopolitical events are poised to shift their attention in the coming week to key economic data and looming policy deadlines to see if the torrid rally in U.S. stocks extends higher. The tech-heavy Nasdaq 100 tallied a record high this week while the benchmark S&P 500 moved to the cusp of an all-time peak. Easing tensions in the Middle East paved the way for the latest bump higher in stocks, as a conflict between Israel and Iran appeared to calm after missile strikes between the two nations had set the world on edge. Focus will shift to Washington in the coming week. President Donald Trump wants his fellow Republicans to pass a sweeping tax-cut and spending bill by July 4, while developments between the United States and trading partners are poised to capture headlines with Trump's "Liberation Day" tariffs set to take effect the following week. Investors also get a crucial view into the U.S. economy with the monthly employment report due on Thursday. U.S. stock markets are closed on Friday, July 4, for the U.S. Independence Day holiday. Citigroup's U.S. economic surprise index has been weakening, indicating that data has been missing Wall Street expectations, said Matthew Miskin, co-chief investment strategist at Manulife John Hancock Investments. "After some softer May data, the June data is really going to be under a microscope," Miskin said. "If the data deteriorates more, it may get the market's attention." U.S. employment is expected to have climbed by 129,000 jobs in June, according to a Reuters poll -- a modest slowdown from May's 139,000 increase. Data on Thursday showed the number of Americans filing new applications for jobless benefits fell in the prior week, but the unemployment rate could rise in June as more laid off people struggle to find work. "The labor market right now is front and center over the next few weeks," said Brent Schutte, chief investment officer at Northwestern Mutual Wealth Management. Employment data could factor into expectations for when the Federal Reserve will next cut interest rates, with investors also watching to see if inflation is calming enough to allow for lower rates. Fed Chair Jerome Powell has been wary that higher tariffs could begin raising inflation, a view he told the U.S. Congress this week, although some Fed officials have talked about a stronger case for cuts and Fed fund futures trading in the past week indicated ramped-up bets for more easing this year. The level of tariffs will come into sharper view with a July 9 deadline for higher levies on a broad set of countries. Stocks have rebounded sharply since plunging in April following Trump's "Liberation Day" tariff announcement, as the president pulled back on some of the most severe tariffs and fears about a recession eased, but markets could remain sensitive to any developments. Investors also will focus on the U.S. fiscal bill in Congress for indication of the extent of stimulus in the legislation and how much it could widen federal deficits. With a roller-coaster first half nearly complete, the S&P 500 is up more than 4% so far in 2025. Recent history has shown July has been a strong month for stocks, with the S&P 500 increasing 2.9% in July on average over the past 15 years, Wedbush analysts noted in a report this week. Also around the corner is the kick-off of second-quarter U.S. corporate earnings season in the coming weeks, with concerns over how much tariffs may be biting into company profits or affecting consumer spending. S&P 500 earnings are expected to have climbed 5.7% in the second quarter from a year earlier, according to LSEG IBES data. "We've been in a geopolitically focused market over the past several weeks," said Josh Jamner, senior investment strategy analyst at ClearBridge Investments. "I think the dawn of earnings season ... will refocus the market back towards fundamentals."
Zawya
a day ago
- Business
- Zawya
Jobs data, trade and fiscal policies in focus with S&P 500 on cusp of record
Investors who have been captivated by recent geopolitical events are poised to shift their attention in the coming week to key economic data and looming policy deadlines to see if the torrid rally in U.S. stocks extends higher. The tech-heavy Nasdaq 100 tallied a record high this week while the benchmark S&P 500 moved to the cusp of an all-time peak. Easing tensions in the Middle East paved the way for the latest bump higher in stocks, as a conflict between Israel and Iran appeared to calm after missile strikes between the two nations had set the world on edge. Focus will shift to Washington in the coming week. President Donald Trump wants his fellow Republicans to pass a sweeping tax-cut and spending bill by July 4, while developments between the United States and trading partners are poised to capture headlines with Trump's "Liberation Day" tariffs set to take effect the following week. Investors also get a crucial view into the U.S. economy with the monthly employment report due on Thursday. U.S. stock markets are closed on Friday, July 4, for the U.S. Independence Day holiday. Citigroup's U.S. economic surprise index has been weakening, indicating that data has been missing Wall Street expectations, said Matthew Miskin, co-chief investment strategist at Manulife John Hancock Investments. "After some softer May data, the June data is really going to be under a microscope," Miskin said. "If the data deteriorates more, it may get the market's attention." U.S. employment is expected to have climbed by 129,000 jobs in June, according to a Reuters poll -- a modest slowdown from May's 139,000 increase. Data on Thursday showed the number of Americans filing new applications for jobless benefits fell in the prior week, but the unemployment rate could rise in June as more laid off people struggle to find work. "The labor market right now is front and center over the next few weeks," said Brent Schutte, chief investment officer at Northwestern Mutual Wealth Management. Employment data could factor into expectations for when the Federal Reserve will next cut interest rates, with investors also watching to see if inflation is calming enough to allow for lower rates. Fed Chair Jerome Powell has been wary that higher tariffs could begin raising inflation, a view he told the U.S. Congress this week, although some Fed officials have talked about a stronger case for cuts and Fed fund futures trading in the past week indicated ramped-up bets for more easing this year. The level of tariffs will come into sharper view with a July 9 deadline for higher levies on a broad set of countries. Stocks have rebounded sharply since plunging in April following Trump's "Liberation Day" tariff announcement, as the president pulled back on some of the most severe tariffs and fears about a recession eased, but markets could remain sensitive to any developments. Investors also will focus on the U.S. fiscal bill in Congress for indication of the extent of stimulus in the legislation and how much it could widen federal deficits. With a roller-coaster first half nearly complete, the S&P 500 is up more than 4% so far in 2025. Recent history has shown July has been a strong month for stocks, with the S&P 500 increasing 2.9% in July on average over the past 15 years, Wedbush analysts noted in a report this week. Also around the corner is the kick-off of second-quarter U.S. corporate earnings season in the coming weeks, with concerns over how much tariffs may be biting into company profits or affecting consumer spending. S&P 500 earnings are expected to have climbed 5.7% in the second quarter from a year earlier, according to LSEG IBES data. "We've been in a geopolitically focused market over the past several weeks," said Josh Jamner, senior investment strategy analyst at ClearBridge Investments. "I think the dawn of earnings season ... will refocus the market back towards fundamentals." (Reporting by Lewis Krauskopf; Editing by Alden Bentley and Sandra Maler)
