Wall Street gains on hopes of rate-hike pause after job openings data
Wall Street's main indexes rise as drop in job openings and decrease in consumer confidence fuel hopes of a pause in interest rate hikes by the Federal Reserve.
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Posted 8/29/2023, 2:44:00 PM
reuters.com
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Global stock markets and Wall Street futures are rising as traders await signals on interest rate plans from the Federal Reserve conference, with investors hoping that the Fed officials will signal an end to interest rate hikes despite concerns about inflation not being fully under control yet.
Wall Street slightly increased ahead of Federal Reserve Chair Jerome Powell's upcoming speech, with futures for the Dow and S&P 500 rising 0.2%; traders hope Powell will indicate that the Fed is done raising interest rates and may cut them next year.
The market anticipates a 100 basis point interest rate cut by the Federal Reserve in 2024, with US 10-year yields falling and Fed funds futures indicating a lower path ahead of the Jackson Hole symposium, as US services PMI disappoints and US retailer Foot Locker warns on the consumer.
Wall Street's major averages rebounded with growth in communication services and technology sectors, while Treasury yields sank as a recent bond sell-off eased; traders are now waiting for Nvidia's quarterly results to gauge the AI market, and investors are hopeful for potential interest rate policy clues from the upcoming Jackson Hole Symposium.
Major indexes rebounded after Federal Reserve Chair Jerome Powell's speech, with the Dow Jones Industrial Average gaining 0.9% in late trading, as Powell emphasized the need for cautiousness in future rate hikes.
Stocks rise as Wall Street achieves its first winning week since July after Federal Reserve Chair Jerome Powell states that the Fed will proceed cautiously with interest rates.
The S&P 500 and other major indices are showing bearish signals, with potential for a significant drop, while the dollar is expected to maintain its upward trajectory and strong economic data could lead to a breakout in interest rates. Additionally, Meta's stock is on a downward trend and the KBW NASDAQ BANK Index is at risk of further decline.
Wall Street's main indexes rose as a decline in Treasury yields boosted megacap growth stocks ahead of key inflation and jobs data, providing more insight into the Federal Reserve's interest rate trajectory.
Wall Street rises as investors await key inflation and jobs data, with gains in 3M and Goldman Sachs.
Wall Street is focused on upcoming inflation and jobs data, looking past Fed Chair Jerome Powell's cautious message and anticipating potential interest rate hikes.
Wall Street is calm ahead of key economic reports that could provide insight into the job market, inflation, and potential interest rate changes by the Federal Reserve, while consumer confidence and job opening reports are expected to remain strong in August.
The number of job vacancies in the US dropped in July, indicating a cooling labor market that could alleviate inflation, while fewer Americans quit their jobs and consumer confidence in the economy decreased, potentially impacting consumer spending; these trends may lead the Federal Reserve to delay a rate hike in September.
Equity markets are higher as investors consider macro data, with Wall Street experiencing a rally fueled by optimism about interest rates and job openings.
European stock markets are expected to open higher following positive moves on Wall Street, as investors anticipate fresh economic data and a potential pause in interest rate hikes by the Federal Reserve.
Wall Street is experiencing small gains and losses as investors await economic news, including an inflation indicator and more jobs data; markets rallied after consumer confidence dropped in August and job openings fell, potentially reducing inflation and deterring the Fed from raising interest rates.
Wall Street rises ahead of new inflation and jobs data that could impact Federal Reserve's policy decisions, as futures for the Dow Jones and S&P 500 increase, while Dollar General falls 16% and software company Salesforce rallies 6% in premarket.
Wall Street ended a challenging August on a mixed note, with the Dow Jones down 0.5%, the S&P 500 losing 0.16%, and the Nasdaq gaining 0.11%, resulting in the worst monthly performance since earlier this year; however, signs of a soft landing for the US economy and lower jobless claims have sparked hopes that the Fed may ease off on interest rate hikes at its upcoming meeting.
Wall Street started the month of September on a high note after a rocky August, with Dow futures up by 127 points, S&P futures 0.3% higher, and Nasdaq futures up by about 0.15%, as investors await Friday's crucial jobs report which is expected to show that the labor market will stay in a sweet spot.
Stock futures on Wall Street rose after the August payrolls report revealed higher-than-expected job additions and a surprise jump in US unemployment, prompting investors to analyze the data for insights into the labor market's health and the Federal Reserve's interest rate plans.
The US job market shows signs of slowing but remains resilient, with 187,000 jobs added in August and a rise in the unemployment rate to 3.8%, as more people actively look for work. Wage gains are easing, signaling a potential slowdown in inflation, and the Federal Reserve may decide against further interest rate hikes.
Equities rose on Monday as market participants speculated that the Federal Reserve may be nearing the end of its interest rate hike cycle, following a positive US jobs report and signs of a softening labor market. Additionally, investors were hopeful that China would implement measures to stimulate its economy and property sector.
Wall Street's main indexes fell in choppy trade due to rising Treasury yields and weak services activity in China, while gains in energy stocks limited losses; however, expectations of a pause in Fed monetary tightening boosted growth stocks.
Stocks on Wall Street are expected to decline as concerns about inflation raise doubts about the Federal Reserve's decision to cut interest rates, while worries about crumbling demand and falling German industrial orders add to the uncertainty.
Wall Street's major averages slumped due to a fall in Apple shares, concerns over elevated oil prices, and worries about the impact of inflation, while an unexpected rise in a key U.S. services activity gauge raised concerns about higher interest rates.
Stock indices finished today’s trading session in the red, with the Nasdaq 100, S&P 500, and Dow Jones Industrial Average all falling. The technology sector was the session's laggard, while the utilities sector was the leader. The U.S. 10-Year Treasury yield increased, and the Atlanta Federal Reserve's latest GDPNow reading estimates that the economy will expand by about 5.6% in the third quarter. The Federal Reserve released its Beige Book report, noting a tourism boom but slower spending in other areas. The ISM Non-Manufacturing Purchasing Managers' Index came in higher than expected, and mortgage applications fell to their lowest level since 1996. The U.S. trade deficit widened less than expected in July. U.S. stock futures inched lower, and European indices trended lower. Asia-Pacific markets were mixed.
Wall Street's major indexes closed slightly higher but posted weekly declines as investors remained concerned about rising interest rates and awaited U.S. inflation readings.
The Wall Street Journal reports a notable shift in the stance of Federal Reserve officials regarding interest rates, with some officials now seeing risks as more balanced due to easing inflation and a less overheated labor market, which could impact the timing of future rate hikes. In other news, consumer credit growth slows in July, China and Japan reduce holdings of U.S. Treasury securities to record lows, and Russia's annual inflation rate reached 5.2% in August 2023.
Stock indices finished today’s trading session in the green, with the Nasdaq 100, S&P 500, and Dow Jones Industrial Average all gaining, while the energy sector fell and the consumer discretionary sector led; individuals held a relatively steady stance on inflation expectations but had growing concerns regarding employment prospects and obtaining credit, according to a report from the Federal Reserve Bank of New York, while Treasury Secretary Janet Yellen expressed confidence in the stability of the U.S. economy, citing controlled inflation and positive employment trends.
The U.S. Consumer Price Index (CPI) is expected to have jumped 0.6% in August, driven by resurgent oil prices, while the core CPI is anticipated to have dipped to a 4.3% year-over-year pace; this higher inflation has dampened the summer rally for bitcoin and other cryptocurrencies, as interest rates are likely to stay higher and for longer than anticipated by investors.
Stock indices closed in the red, with the Nasdaq 100, S&P 500, and Dow Jones Industrial Average all experiencing declines, while the technology sector underperformed and the energy sector led the session. The U.S. 10-Year Treasury yield dropped, while the Two-Year Treasury yield increased. The Small Business Optimism Index for August decreased, with inflation cited as a major concern among small business owners. Stocks opened lower on Tuesday, and U.S. futures trended lower as well. This week's focus will be on the Consumer Price Index and Producer Price Index data, which could impact the Federal Reserve's decision on rate hikes. Oracle's stock fell after missing sales estimates, while Casey's General and Tesla saw gains. JPMorgan's CEO criticized new Basel III regulations, and European indices traded in the green. In Asia-Pacific, markets ended mixed as traders await U.S. inflation data.
Wall Street stocks opened higher as investors assessed strong retail sales and wholesale price inflation data to gauge the Federal Reserve's approach to interest rates, with the S&P 500 gaining 0.5% and the Dow Jones Industrial Average ticking up 0.4%.
Wall Street is experiencing a slight decline as oil prices continue to rise, putting pressure on inflation and causing uncertainty about the Federal Reserve's interest rate policy.
Stock indices are in the red as oil prices continue to rise, with Chevron's CEO predicting prices could reach $100 per barrel due to reduced US shale oil output and OPEC's supply cuts, while the US Federal Reserve is holding off on easing liquidity until there is a significant reduction in wages to counterbalance a current yearly wage increase of 4.3% and maintain a 2% inflation rate.
Wall Street fears that the Federal Reserve will push out the timing for rate cuts next year, sparking concerns of a hawkish pause and increasing selling pressure, despite a trend of rapid disinflation and the potential for a higher neutral interest rate.
Markets on Wall Street are expected to open with losses after the Federal Reserve suggests it may not cut interest rates next year by as much as previously thought, leading to a decline in futures for the S&P 500 and Dow Jones Industrial Average; uncertainty surrounding inflationary indicators and high rates is a major concern for traders moving forward.
Wall Street stocks edge higher after a recent sell-off sparked by the Federal Reserve's indication that interest rates will remain high, with the S&P 500 and Nasdaq Composite making slight gains; however, they are set for weekly losses.
Wall Street's main indexes bounce back as U.S. Treasury yields retreat, with Ford shares rising on progress in labor talks and growth stocks rebounding.