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...The dollar strengthened 0.4 per cent against a basket of six peer currencies as investors scaled back their bets on rate cuts....
...Stocks have rallied strongly this year, with the blue-chip S&P 500 enjoying its best start to a year since 2019, having risen 10.2 per cent in the first quarter of 2024....
...Futures prices imply investors have priced in a quarter-point cut by July, with many betting the move will actually come in June....
...Investors largely brushed off Federal Reserve chair Jay Powell’s warning on Friday that interest rates could yet rise above their current level....
...Wall Street’s S&P 500 index fell 0.6 per cent, with technology the worst performing sector....
...A blowout quarter was poised to end with a whimper on Thursday as investors chose to hold off bets ahead of fresh inflation figures and comments from Fed chair Jay Powell....
...The S&P 500 stood almost 1.4 per cent higher as Powell spoke, on track for its biggest jump in a month, having been flat before the Fed’s initial announcement....
...Jamie Dimon: one, Jay Powell: nil....
...The metric measures the price of options that enable investors to profit from swings in the S&P 500....
...Investors also say the surge in yields could derail US stocks. The S&P 500 index of blue-chip companies is up more than 9 per cent since the start of the year....
...The S&P 500 was up 0.4 per cent by mid-afternoon at 4,588. Earlier it reached 4,599.39, passing its previous July closing peak for the year....
...Before Friday’s non-farm payrolls report, which one economist called “stunning”, many investors had been expecting six interest rate cuts this year....
...It’s a really good outcome for investors.” As Powell spoke, investors in the futures market added to bets on a rate cut in June, putting the odds at about 85 per cent, versus 65 per cent on Tuesday....
...The benchmark S&P 500 was up 0.3 per cent in Wednesday afternoon trading in New York, on course for its first gain this week....
...Fed chair Jay Powell’s press conference will be the focus for investors, he added. “The Street really wants to hear about the potential for [interest rate] cuts.”...
...Shepherdson argues that declining S&L tax revenue augurs poorly for future S&L spending, as this chart shows: It’s a reminder to investors that markets are sensitive to changes, not levels....
...Its investors, however, may find the group’s latest proposition does not fit them so well....
...US stocks were steady early on Thursday as investors looked ahead to a speech from Federal Reserve chair Jay Powell and weighed up fresh data showing continued resilience in the labour market....
...US stocks closed higher on Tuesday, with utilities and energy companies faring best as investors looked ahead to tomorrow’s Federal Reserve policy announcement....
...The S&P 500 closed at a 20-month high, and Treasury yields fell to five- month lows, after cautious commentary by Federal Reserve chair Jay Powell failed to deter investor hopes of interest rate cuts....
...After Powell’s remarks, yields on policy-sensitive two-year Treasury notes dropped 0.14 percentage points to a five-month low of 4.56 per cent, suggesting investors were largely brushing off his warnings...
...Federal Reserve chair Jay Powell’s decision last month to hint at interest rate cuts in early 2024 sent stocks surging, leaving the S&P 500 close to an all-time high....
...US stocks opened higher on Tuesday as investors looked ahead to fresh commentary from Federal Reserve officials and a flurry of fourth-quarter corporate results....
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