LONDON / WAM Gold prices rose on Tuesday after two sessions of losses as the dollar eased, while investors sought more clarity on the US Federal Reserve’s monetary policy stance, Reuters reported. Spot gold was up 0.2% at $2,001.09 per ounce, as of 0457 GMT. Also, US gold futures rose 0.2% to $2,011.10. Spot silver dipped 0.4% to $25.02 per ...
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US stock futures advance on China growth wagers
BLOOMBERG US equity futures pointed to gains for Wall Street as signs of a Chinese economic bounceback helped markets look past patchy company earnings and the possibility of more central bank policy tightening. Contracts on the S&P 500 gained 0.4%, while those on the tech-heavy Nasdaq 100 climbed as much as 0.6%. Investors are preparing for more first-quarter earnings, including ...
Read More »Euro area’s blue-chip index eyes highest level since 2007
BLOOMBERG The euro area’s blue-chip index is finally set for its highest close since the global financial crisis. The Euro Stoxx 50 gained as much as 0.3% on Monday, putting it on track to close at its highest level since December 2007, before trading little changed in London. TotalEnergies SE, Airbus SE and Prosus NV outperformed. The gauge got a ...
Read More »Morgan Stanley strategist sees US stock rally at risk
BLOOMBERG The rally in the S&P 500 has been driven by only a handful of stocks, putting the index at risk of fresh lows if bond yields rise, according to Morgan Stanley’s Michael Wilson — one of the most bearish voices on Wall Street. The percentage of stocks outperforming the S&P 500 on a three-month rolling basis is the lowest ...
Read More »BofA strategists prefer global tech stocks to tech-heavy US market
BLOOMBERG Investors should avoid US stocks as expectations of a recession have become universal, according to Bank of America Corp’s (BofA) Michael Hartnett. The strategist is specifically negative on technology shares, which have a higher concentration in the US than international markets, as they’re set to come under pressure from increased regulatory scrutiny and higher interest rates. That’s already starting ...
Read More »Nasdaq futures decline as bank earnings deluge begins
BLOOMBERG US equity future and bonds slumped as inflation once again took centre stage and traders mulled the likelihood of multiple interest rate hikes this year. Contracts on the Nasdaq 100 and S&P 500 fell following comments from Federal Reserve Governor Christopher Waller who said he favoured more policy tightening in the central bank’s battle with inflation. Swaps traders are ...
Read More »US equities trade higher as jobs, inflation data soften
BLOOMBERG US equities traded higher, as the latest readings on jobs and factory-gate inflation were slightly softer than expected, a boost for those hoping the Federal Reserve may be approaching the end point of an era of aggressive interest rate hikes. The S&P 500 rose 0.3% while the more rate-sensitive Nasdaq 100 gained 0.9% after US jobless claims for the ...
Read More »Mizuho warned over setting low IPO prices in blow to issuers
BLOOMBERG Japan’s trade watchdog cautioned Mizuho Financial Group Inc’s brokerage unit, saying the company priced newly listed stocks in a way that could undermine competition and cause the issuing companies “unfair disadvantages.†Mizuho Securities Co set prices on some initial public offerings (IPOs) in 2020 and 2021 at levels below where the issuers said they should be, the Japan Fair ...
Read More »Korean EV battery stock that rallied 647% gets first sell rating
BLOOMBERG A Korean EV battery stock that is the top performer on the country’s small-cap index this year just got its first sell rating, sounding a note of caution for retail investors who have been piling into the sector’s shares. Ecopro Co, the holding company of battery materials supplier Ecopro BM Co, slumped almost 17%, the most intraday since January ...
Read More »US equity futures steady before inflation lands
BLOOMBERG US equity futures steadied as investors awaited US inflation data that may shed light on the Federal Reserve’s next policy move. Contracts on the S&P 500 erased a small gain to trade flat before the widely-watched report that could stoke fresh volatility. Treasury two-year yields rose, holding above 4%, while the dollar was broadly lower. US headline inflation is ...
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