After two strong up days, the Dow, S&P 500, and Nasdaq struggled to pick a direction today, but ultimately ended higher. Although the Dow explored a range of nearly 285 points on both sides of breakeven, it was the index's least volatile session since Jan. 30. While tech and bank stocks rallied, many traders exercised caution ahead of a round of crucial inflation data set for release tomorrow. Spe...Read More
* U.S. consumer prices and retail sales data due Wednesday* Market rout not impacting economic outlook - Fed's Mester* Under Armour climbs after posting upbeat revenue* Indexes rise: Dow 0.16 pct, S&P 500 0.26 pct, Nasdaq 0.45 pct (Updates to close)By Noel RandewichFeb 13 (Reuters) - Wall Street climbed on Tuesday for a third straight session, buoyed by Amazon.com and Apple, while investors fo...Read More
Feb 13 (Reuters) - Canada's main stock index ended slightly lower on Tuesday, weighed by the industrial and energy sectors as oil prices fell and appetite for global stocks faltered. The Toronto Stock Exchange's S&P/TSX composite index unofficially closed down 25.41 points, or 0.17 percent, at 15,216.47. (Reporting by Leah Schnurr; editing by Diane Craft) Disclaimer: The views expressed in th...Read More
(Updates quotes, table, prices)By Kate DuguidNEW YORK, Feb 13 (Reuters) - The Japanese yen rose to a five-month high on Tuesday on the back of broad-based selling of the dollar and speculation the Bank of Japan could be close to dialing back record levels of monetary stimulus.The yen has gained 1.5 percent against the dollar this month, benefiting last week from a rush by investors into currencies...Read More
Feb 14 (Reuters) - Stock MarketsNet ChngStock MarketsNet ChngS&P/ASX 200** 5,855.90035.20 NZX 50**8,122.22 63.160DJIA**24,674.5 73.23 NIKKEI**21,244.68-137.94Nasdaq**7,016.83036.866FTSE**7,168.01 -9.05S&P 500** 2,665.52 9.52Hang Seng** 29,839.53379.90SPI 200 Fut 5,80815.00 STI** 3,415.07 30.09SSEC**3,185.5964 31.47 KOSPI** 2,395.19 9.81------------------------------------------------------...Read More
(Adds comment from official at the Government Finance Officers Association, paragraphs 6-7)By Karen PierogCHICAGO, Feb 13 (Reuters) - The federal tax exemption for a type of debt refunding used by U.S. states, cities, schools and other issuers to lower borrowing costs would be restored under a new bipartisan bill in Congress, two of its sponsors said on Tuesday. The sweeping tax legislation signe...Read More
NEW YORK, Feb 13 (Reuters) - Wall Street climbed on Tuesday for a third straight session, buoyed by Amazon.com and Apple , while investors focused on inflation data on Wednesday that could upset the market's fragile recovery - or clear the way for more gains.Based on the latest available data, the Dow Jones Industrial Average rose 39.18 points, or 0.16 percent, to 24,640.45, the S&P 500 gained...Read More
(Adds graphic, no change to text)By Richard LeongNEW YORK, Feb 13 (Reuters) - Bond traders and investors offered a lukewarm embrace this week to an expected surge in U.S. government debt supply in the coming weeks following last week's budget deal that will raise federal spending by almost $300 billion over the next two years.The jump in Treasury bill supply, totaling $190 billion from sales on M...Read More
David LjunggrenOTTAWA (Reuters) - Canada’s chief negotiator at talks to modernize NAFTA on Tuesday said the United States aimed to weaken Canada and Mexico rather than ensure all three members of the trilateral trade pact benefited.Steve Verheul said the talks had achieved little progress on major issues so far and complained about the inflexibility of U.S. negotiators.His comments were easi...Read More
(Reuters) - A Wall Street regulator is probing into whether prices linked to the Cboe Volatility Index .VIX have been manipulated, the Wall Street Journal reported on Tuesday, citing people with knowledge of the matter.The Financial Industry Regulatory Authority (FINRA) is scrutinizing whether traders placed bets on S&P 500 options in order to influence prices for VIX futures, according to the...Read More
(Updates prices, adds analyst comment)MEXICO CITY, Feb 13 (Reuters) - Mexican markets held steady on Tuesday, as investors awaited U.S. inflation data that could shine a light on the possible next steps of the Federal Reserve Bank's monetary policy and future appetite for emerging market assets. In New York, Wall Street's three main indexes traded higher, reversing earlier losses even as investors...Read More
Howard SchneiderDAYTON, Ohio (Reuters) - When the Federal Reserve’s policy meeting ended last month, U.S. stock indexes were near record highs, market volatility was almost non-existent and policymakers chatted about the calm waters welcoming incoming central bank chief Jerome Powell.Now, Janet Yellen’s successor may instead be facing an early test of his leadership as the Fed weighs t...Read More
The World Gold Council released a gold update indicating solid performance in 2017 supported by robust economy, US Fed raising interest rates three times and risk asset values ascend.US dollar gold price surged to the highest annual gain since 2010.Potential headwinds this year may not be as strong as many investors perceive it to be. Image source: www.optionsellers.com Investment Thesis Based on...Read More
* U.S. consumer prices and retail sales data due Wednesday* Market rout not impacting economic outlook - Fed's Mester* Under Armour climbs after posting upbeat revenue* Indexes rise: Dow 0.10 pct, S&P 0.13 pct, Nasdaq 0.33 pct (Updates with market recovery, afternoon trade)By Noel RandewichFeb 13 (Reuters) - Wall Street climbed on Tuesday for a third straight session, buoyed by Amazon.com and...Read More
U.S. stocks have erased earlier losses ahead of tomorrow's key inflation update. Several individual names are making big moves, including healthcare stocks Patterson Companies, Inc. (NASDAQ:PDCO) and Henry Schein, Inc. (NASDAQ:HSIC) -- which are stumbling -- while athletic wear stock Under Armour Inc (NYSE:UAA) is having its best day in years. Here's a closer look at what's moving shares of PDC...Read More
PARIS, Feb 13 (Reuters) - French President Emmanuel Macron said on Tuesday he did not care about the nationality of the next head of the European Central Bank, as long as he or she was as competent as its current chief, Mario Draghi.Macron, grilled by reporters on a wide range of topics, also said he hoped the next head of the European Commission would be as ambitious as possible and that placing...Read More
Earnings season has seemingly taken a backseat to the recent stock market sell-off. Nevertheless, mining firms Barrick Gold Corp (NYSE:ABX), Goldcorp Inc. (NYSE:GG), and Kinross Gold Corporation (NYSE:KGC) could be worth watching this week, with all three slated to report earnings after tomorrow's close -- and the trio of gold stocks each staring at stiff monthly losses.Shorts Could Pressure Barri...Read More
Saqib Iqbal Ahmed, Rama Venkat RamanNEW YORK/BENGALURU (Reuters) - Wall Street’s most widely followed gauge of future stock market volatility is being manipulated, causing billions of dollars in losses a year to unwary investors, a law firm representing an “anonymous whistleblower” alleged in a letter to U.S. financial regulators and released on Monday.The letter, to both the U.S...Read More
Roberta RamptonWASHINGTON (Reuters) - U.S. President Donald Trump said on Tuesday he was considering a range of options to address steel and aluminum imports that he said were unfairly hurting U.S. producers, including tariffs and quotas.Trump’s comments came in a meeting with a bipartisan group of U.S. senators and representatives. Some of the lawmakers urged him to act decisively to save s...Read More
(Updates share, changes headline, adds background)Feb 13 (Reuters) - Wells Fargo & Co Chief Executive Tim Sloan tried to deliver a message of consistency and stability at an investor event on Tuesday, less than two weeks after it disclosed a regulatory sanction related to a long-running sales scandal.Asked whether an asset cap imposed by the U.S. Federal Reserve would have any impact on Wells...Read More