Earnings could be an even bigger catalyst for stocks after the market’s wild ride on rate fears. Earnings could be a main driver of stocks in the week ahead, after a roller-coaster ride on changing sentiment about how much the Federal Reserve will raise interest rates.Hot inflation data initially sparked speculation the Fed could raise interest rates by a full percentage point. By the end of the week, strong data and comments from Fed officials quashed those expectations.In the week ahead, investors are looking to housing data and expect earnings from a broad swath of companies to steer stocks.Strategists have been expecting the second-quarter earnings season to contain disappointments and downward revisions, as companies deal with inflation, supply chain issues, staff shortages — and now

Mainland Chinese indexes led losses as Asia-Pacific markets fell sharply on Monday following a sell-off on Wall Street on Friday. "It’s no surprise and it makes all sorts of logical sense that the market should be concerned about the Covid situation because that clearly is impacting economic activity. It’s impacting earnings potential for many parts of the market,” said Timothy Moe, chief Asia-Pacific equity strategist at Goldman Sachs. China has been struggling to contain its worst outbreak of the virus despite harsh lockdowns in its largest city, Shanghai. Over the weekend, capital Beijing, warned that the virus has been spreading undetected for about a week.

Mainland Chinese indexes led losses as Asia-Pacific markets fell sharply on Monday following a sell-off on Wall Street on Friday. "It’s no surprise and it makes all sorts of logical sense that the market should be concerned about the Covid situation because that clearly is impacting economic activity. It’s impacting earnings potential for many parts of the market,” said Timothy Moe, chief Asia-Pacific equity strategist at Goldman Sachs. China has been struggling to contain its worst outbreak of the virus despite harsh lockdowns in its largest city, Shanghai. Over the weekend, capital Beijing, warned that the virus has been spreading undetected for about a week.

Nasdaq rises for fifth-straight day after strong jobs report as Wall Street notches winning week. The Nasdaq Composite rose in choppy trading on Friday as investors reacted to a stronger-than-expected jobs report that will likely keep the Federal Reserve on track for its aggressive rate hikes. The Nasdaq gained 0.12%. The Nasdaq has risen in five straight days for the first time this year. Nonfarm payrolls increased 372,000 in the month of June, better than the 250,000 Dow Jones estimate and continuing what has been a strong year for job growth, according to data Friday from the Bureau of Labor Statistics. All three major averages finished up for the week. The jobs report and a recent decline in commodities prices have made a have made a so-called “soft landing” for the U.S. economy a bit

Nasdaq rises for fifth-straight day after strong jobs report as Wall Street notches winning week. The Nasdaq Composite rose in choppy trading on Friday as investors reacted to a stronger-than-expected jobs report that will likely keep the Federal Reserve on track for its aggressive rate hikes. The Nasdaq gained 0.12%. The Nasdaq has risen in five straight days for the first time this year. Nonfarm payrolls increased 372,000 in the month of June, better than the 250,000 Dow Jones estimate and continuing what has been a strong year for job growth, according to data Friday from the Bureau of Labor Statistics. All three major averages finished up for the week. The jobs report and a recent decline in commodities prices have made a have made a so-called “soft landing” for the U.S. economy a bit

Nasdaq rises for fifth-straight day after strong jobs report as Wall Street notches winning week. The Nasdaq Composite rose in choppy trading on Friday as investors reacted to a stronger-than-expected jobs report that will likely keep the Federal Reserve on track for its aggressive rate hikes.The Nasdaq gained 0.12%. The Nasdaq has risen in five straight days for the first time this year. Nonfarm payrolls increased 372,000 in the month of June, better than the 250,000 Dow Jones estimate and continuing what has been a strong year for job growth, according to data Friday from the Bureau of Labor Statistics.All three major averages finished up for the week. The jobs report and a recent decline in commodities prices have made a have made a so-called “soft landing” for the U.S. econom

S&P 500 closes lower, notches 5-day losing streak ahead of key inflation report. U.S. stocks fell Tuesday, reversing gains from earlier in the day as investors looked ahead to key inflation data out later in the week that will give the Federal Reserve updated information on the state of the U.S. economy. The S&P 500 slipped 0.65% to close at 3,588.84 after rebounding from a multiyear low earlier in the session. The Nasdaq Composite fell 1.10% to 10,426.19, its lowest close since July 2020. Tuesday’s losses notched the fifth day in a row of declines for both indexes. The Dow Jones Industrial Average rose 0.12%, to close at 29,239.19, bolstered by jumps in Amgen and Walgreens Boots Alliance. Bond prices also fell, and the yield on the U.S. 10-year Treasury neared the key 4% leve

Forbes reports Temasek having invested US$205 into bankrupted cryptocurrency exchange. According to an exclusive report by Forbes, Temasek Holdings has US$205 million invested into cryptocurrency platform FTX which has filed for bankruptcy in the United States. FTX Group announced in a statement on Friday (11 Nov) that it filed for US' Chapter 11 bankruptcy proceedings, adding it has begun an “orderly process to review and monetize assets for the benefit of all global stakeholders.” The filing comes after the world’s biggest cryptocurrency platform Binance agreed to buy its rival earlier this week but backed out, leading market players to consider possible regulator responses. Forbes' report noted that FTX became a huge draw for venture capitalists eager to get in on the Bitcoin boom as th

The Fed is breaking things’ – Here’s what has Wall Street on edge as risks rise around the world. Markets entered a perilous new phase in the past week, one in which statistically unusual moves across asset classes are becoming commonplace. Surging volatility in what are supposed to be among the safest fixed income instruments in the world could disrupt the financial system’s plumbing, according to Mark Connors, former Credit Suisse global head of risk advisory. That could force the Fed to prop up the Treasury market, he said. Doing so will likely force the Fed to put a halt to its quantitative tightening program ahead of schedule. The other worry is that the whipsawing markets will expose the weak hands among asset managers, hedge funds and other players who may have been overleveraged or

Stocks close lower, major averages on pace for weekly declines as recession fears mount. Stocks on Thursday posted their third straight daily decline, as mounting fears that the Federal Reserve’s aggressive rate hikes will push the economy into a recession dented risk appetite for investors.The S&P 500 slid 0.8% to 3,757.99, while the Nasdaq Composite shed 1.4% to 11,066.81. The Dow Jones Industrial Average closed 0.3%, at 30,076.68.Thursday’s session left the major averages on pace to close the week with losses. The Dow is down about 2.42% week to date, while the S&P and Nasdaq have tumbled 3% and 3.3%, respectively. The S&P and Dow closed Thursday 2.5% and 0.5% off their recent lows.Bond yields surged again on Thursday, with the yields on the 10-year and 2-year Treasury

WHO declares rapidly spreading monkeypox outbreak a global health emergency. The rare designation means the WHO now views the outbreak as a significant enough threat to global health that a coordinated international response is needed.The WHO last issued a global health emergency in January 2020 in response to the Covid-19 outbreak.Europe is the epicenter of the outbreak. Right now, men who have sex with men are the community at highest risk.The WHO chief said the global risk is moderate, but the threat is high in Europe.Monkeypox is unlikely to disrupt international trade or travel right now, the WHO chief said.More than 16,000 cases of monkeypox have been reported across more than 70 countries so far this year, and the number of confirmed infections rose 77% from late June through e

Stocks notch second day of gains Monday, Dow closes more than 400 points higher. The three major indexes closed higher Monday as traders tried to add to sharp gains seen last week and weighed the latest moves in rates. The Dow Jones Industrial Average added 1.3%, ending the day at 31,499.62. The S&P 500 gained about 1.2% and closed at 3,797.34. The Nasdaq Composite advanced nearly 0.9% to end at 10,952.61. Investors will watch for earnings from Big Tech names. Results for Alphabet and Microsoft are out Tuesday. Apple and Amazon are due Thursday. “It’s all about earnings, and in our view, earnings are coming in, honestly, at or below expectation,” said Terry Sandven, chief equity strategist at U.S. Bank’s wealth management division. He said inflation data and interest rates are both als

U.S. stocks fell Tuesday after Walmart cut its earnings forecast, sending other retail shares lower and adding to concern that consumer spending might not be strong enough to keep the U.S. out of a recession. Walmart cut its quarterly and full-year profit estimates because of rising food inflation. This alarmed investors who deliberated the implications for other retail stocks. The big-box retailer said higher prices are spurring consumers to pull back on general merchandise spending, particularly in apparel. “The most important thing from the Walmart announcement is how inflation is changing what people buy,” said Robert Cantwell, portfolio manager at Upholdings. “Food now makes up a bigger share of individuals’ budgets, but overall spending still generally remains intact.”Traders are als

The Fed is expected to raise interest rates by three-quarters of a point and then signal it could slow the pace. The Federal Reserve is expected to raise interest rates by 75 basis points Wednesday but also signal it could begin to slow down the size of its rate hikes in December. Markets are also braced for the Fed to end rate hikes in March at a level of 5%, and market pros say a more hawkish Fed could trigger a violent reaction. Fed Chair Jerome Powell is expected to sound somewhat hawkish in his briefing Wednesday and emphasize that the Fed’s goal is to crush inflation. “We think they hike just to get to the end point. We do think they hike by 75. We think they do open the door to a step down in rate hikes beginning in December,” said Michael Gapen, chief U.S. economist at Bank of Amer

Stocks closed lower on Monday with the Nasdaq Composite index falling to the lowest level in two years as tech shares continue to be the hardest hit in this bear market because of spiking interest rates. The Nasdaq Composite closed 1.04% lower at 10,542.10, hitting its lowest close since July 2020, weighed down by a slump in semiconductor stocks such as Nvidia and AMD. The S&P 500 also fell 0.75% to 3,612.39, dragged down by semi stocks and dips in major tech names like Microsoft, while the Dow Jones Industrial Average shed 0.32%, to close at 29,202.88. The declines came as JPMorgan CEO Jamie Dimon warned that the U.S. would likely fall into a recession in 2023, and that it may not be just a mild economic contraction as some economists have projected. A policy change weighed on semicon

Tesla delivered 343,000 vehicles in the third quarter of 2022. Tesla just reported third-quarter vehicle production and delivery numbers for 2022. During this quarter in 2021, Elon Musk’s auto business reported deliveries of 241,300 electric cars. According to estimates compiled by FactSet-owned Street Account, analysts were expecting Tesla to report deliveries of 364,660 cars for the period ending September 30, 2022. During the year-ago quarter, Tesla reported deliveries of 254,695 vehicles, and that it had produced 237,823 cars including just 8,941 Model S and X vehicles, which are the company’s more expensive sedan and SUV with falcon-wing doors, respectively. In the third quarter of 2022, Tesla faced soaring commodity prices, executive turnover (with the notable departure of AI leader

Fed speak of the week: A unified, resolute stance in the inflation fight. Following the Federal Reserve’s super-sized interest rate hike and another hot read on inflation, a slew of Fed speak this week indicated that central bank officials are unified in the task of cooling inflation — even in the face of global market turmoil. Across statements, the message was clear: The Fed plans to continue raising rates higher and then hold them there is “clear and convincing” evidence that inflation is cooling. And while recession risk has risen, it’s not the base case expectation. At a research conference in New York on Friday, Fed Governor Lael Brainard underscored that it will take time for the full effect of higher interest rates to work through different sectors and to bring inflation down, addi

Natural gas surges as much as 9% to highest level since 2008 as Russia’s war roils energy markets. Over the last two sessions, natural gas prices have jumped more than 8%, which follows a nearly 30% gain in April. The swift upward price action is adding to inflationary pressures across the economy. For example, consumers’ electricity bills are rising as utility companies pass along their higher input costs.

Recession fears flare and June jobs report looms as jittery markets head into third quarter. With increased worries about a recession swirling everywhere, Friday’s jobs report and the minutes from the last Fed meeting on Wednesday should be highlights of the week ahead.Economists expect that employers created another 250,000 jobs in June, less than the 390,000 added in May, according to Dow Jones.“I think the market is caught between two narratives,” said one strategist. “I don’t know if it wants good news or bad news. At first, the hot economic news was bad because the Fed could go another 75 basis points and keep going, but now the market wants softer news. But is the landing going to be soft or hard? It’s like threading the needle right now.”

Stocks wavered Friday in a volatile trading session after the July jobs report was much better than expected, as investors assessed what a strong labor market would mean for the Federal Reserve’s rate tightening campaign. The Dow Jones Industrial Average gained 0.23%, to end at 32,803.47. Even with Friday’s gains, however, it fell on the week. The S&P 500 shed 0.16% to end at 4,145.19, and the Nasdaq Composite lost 0.50% Friday, falling to 12,657.56. Still, both the S&P 500 and the Nasdaq ended the first week of August higher. The labor market added 528,000 jobs in July, easily beating a Dow Jones estimate of a 258,000 increase. The unemployment rate ticked down to 3.5%, below the 3.6% estimate. Wage growth also rose more than estimated, up 0.5% for the month and 5.2% higher than a