Thursday, January 26, 2023
Market-Reporter
  • Home
  • Markets
    • U.S. Markets
    • Canada
    • Europe & Middle East
    • Emerging Markets
    • Asia
    • Latin America
  • Investing
    • Stocks
    • IPOs
    • Mutual Funds
    • ETFs
    • Bonds
    • Commodities
    • Currencies
    • Cryptocurrencies
  • Economy & Politics
    • Personal Finance
    • Spending & Saving
    • Retirement
    • Real Estate
No Result
View All Result
  • Home
  • Markets
    • U.S. Markets
    • Canada
    • Europe & Middle East
    • Emerging Markets
    • Asia
    • Latin America
  • Investing
    • Stocks
    • IPOs
    • Mutual Funds
    • ETFs
    • Bonds
    • Commodities
    • Currencies
    • Cryptocurrencies
  • Economy & Politics
    • Personal Finance
    • Spending & Saving
    • Retirement
    • Real Estate
No Result
View All Result
Market-Reporter
No Result
View All Result
Home Stocks

US stocks tick lower as traders assess outlook for rate rises

MtR by MtR
August 8, 2022
in Stocks
0


Wall Street stocks ticked lower on Monday, adding to losses in the previous session when a hot US jobs report stoked expectations of a more aggressive interest rate rise campaign by the Federal Reserve.

The blue-chip S&P 500 and the tech-heavy Nasdaq Composite were both down 0.2 per cent by mid-afternoon trading in New York, reversing gains in early dealings. Europe’s Stoxx 600 closed 0.7 per cent higher, while Hong Kong’s Hang Seng index dropped 0.8 per cent.

US government debt made gains. The yield on the 10-year Treasury note fell 0.07 percentage points to 2.77 per cent, as the price of the benchmark instrument increased. The policy-sensitive two-year yield fell 0.03 percentage points to 3.22 per cent.

Those moves came after a labour report for the world’s largest economy on Friday showed the unemployment rate returning to a half-century low as employers added 528,000 jobs in July — more than double the 250,000 anticipated by economists.

Those numbers preceded a closely watched US consumer price index report due on Wednesday. Economists polled by Reuters expect headline inflation to have increased 0.2 per cent month over month from June to July, down from 1.3 per cent. Core inflation, which strips out volatile categories including food and petrol, is expected to have risen 0.5 per cent.

The S&P 500 closed 0.2 per cent lower on Friday as traders anticipated that the stronger-than-expected jobs data would encourage the US central bank to lift interest rates further. But the index still gained 0.4 per cent for the week. With the Nasdaq also up 2.2 per cent for the week, this marked the first time since the start of April that both indices made three consecutive weekly gains.

In commodities, Brent crude recovered from earlier losses to gain 1.3 per cent and trade at $96.15 a barrel. That rise came after the international oil benchmark last week posted its biggest weekly drop since April 2020.

“We are in an environment where central bankers have a tough choice: high inflation or the risk of recession. Faced with that choice, central bankers are likely to choose recession,” said Bill Papadakis, a macro strategist at Lombard Odier.

Central banks have in recent weeks shown their willingness to tackle inflation robustly, with the Bank of England, European Central Bank and Fed all introducing sizeable rate rises despite signs of an economic slowdown.

Futures markets indicate that investors are pricing in the possibility of a third consecutive 0.75 percentage point rate rise when Fed policymakers meet in September, although Deutsche Bank analysts point out there would be two further CPI releases before the central bank’s next meeting.

“The monster payrolls report on Friday . . . finally got the message through that the narrative of a dovish Fed pivot . . . was exceptionally premature,” they wrote in a note.

After the dollar made gains on Friday following the jobs report, the greenback slipped 0.2 per cent against a basket of six other major currencies.



Source link

Related articles

Stock Market News Today Live: Dow, S&P 500 Waver Ahead of Labor Costs, Earnings – The Wall Street Journal

August 9, 2022

S&P 500, Nasdaq futures fall on Tuesday as chip stocks decline

August 9, 2022

Related Posts

Stock Market News Today Live: Dow, S&P 500 Waver Ahead of Labor Costs, Earnings – The Wall Street Journal

by MtR
August 9, 2022
0

Stock Market News Today Live: Dow, S&P 500 Waver Ahead of Labor Costs, Earnings  The Wall Street Journal Source link

S&P 500, Nasdaq futures fall on Tuesday as chip stocks decline

by MtR
August 9, 2022
0

Traders on the floor of the NYSE, August 1, 2022.Source: NYSES&P 500 futures fell on Tuesday after another chipmaker warned...

Alibaba gets Hong Kong’s approval for a primary stock listing

by MtR
August 9, 2022
0

A filing Monday showed Chinese internet tech giant Alibaba is another step closer to letting mainland Chinese investors trade its...

Jim Cramer says these 7 Covid-era winning stocks have staying power

by MtR
August 9, 2022
0

CNBC's Jim Cramer on Monday offered investors a list of stocks that saw huge gains during the height of the...

Goldman says beware these stocks with unsustainable margins in a tough environment ahead

by MtR
August 8, 2022
0

Investors should brace themselves for difficult times ahead, with some stocks in particular facing unsustainable margin growth expectations, according to...

Load More
  • Trending
  • Comments
  • Latest

Bank of England tells ministers to intervene on digital currency ‘programming’

June 21, 2021

Tips for checking smoke alarms during daylight saving time

March 12, 2022

GLOBAL MARKETS-U.S. stocks follow Europe up; Treasury yields rise, dollar firm

July 9, 2021

What will Durham County education bonds pay for? A full list

July 8, 2022
African currencies week ahead: Zambia's kwacha seen on back foot, Kenyan shilling up – Business Recorder

African currencies week ahead: Zambia's kwacha seen on back foot, Kenyan shilling up – Business Recorder

0
Maxum Foods releases Global Dairy Commodity Update for June

Maxum Foods releases Global Dairy Commodity Update for June

0
Letter: Perpetual bonds can help states fight hunger

Letter: Perpetual bonds can help states fight hunger

0
United Kingdom ETFs Are Riding the Re-Opening Momentum

United Kingdom ETFs Are Riding the Re-Opening Momentum

0

Investment in overseas real estate surges : The DONG-A ILBO

August 11, 2022

U.S. inflation CPI report, Wall Street, currencies

August 10, 2022

Alberta oil production set new record in first half of 2022

August 10, 2022

Industrial Lubricants Market to Reach $71 Billion by 2027.

August 10, 2022

Recent News

Investment in overseas real estate surges : The DONG-A ILBO

August 11, 2022

U.S. inflation CPI report, Wall Street, currencies

August 10, 2022

Alberta oil production set new record in first half of 2022

August 10, 2022

Categories

  • Asia
  • Bonds
  • Canada
  • Commodities
  • Cryptocurrencies
  • Currencies
  • Emerging Markets
  • ETFs
  • Europe & Middle East
  • IPOs
  • Latin America
  • Mutual Funds
  • Personal Finance
  • Real Estate
  • Retirement
  • Spending & Saving
  • Stocks
  • U.S. Markets
  • Privacy & Policy
  • About Us
  • Contact Us
  • Advertise with us

© 2021 Copyright Market-Reporter

No Result
View All Result
  • Home
  • Markets
    • U.S. Markets
    • Canada
    • Europe & Middle East
    • Emerging Markets
    • Asia
    • Latin America
  • Investing
    • Stocks
    • IPOs
    • Mutual Funds
    • ETFs
    • Bonds
    • Commodities
    • Currencies
    • Cryptocurrencies
  • Economy & Politics
    • Personal Finance
    • Spending & Saving
    • Retirement
    • Real Estate

© 2021 Copyright Market-Reporter