Netflix drags Wall Street lower ahead of Powell’s testimony

In the News, marketsNews
(Reuters) - Wall Street dipped on Tuesday as Netflix’s slump due to weak subscriber growth weighed on other high-growth stocks, while investors awaited Federal Reserve Chairman Jerome Powell’s Congressional testimony. Powell is likely to reiterate the central bank’s stance toward gradual monetary policy tightening at his testimony on the economy and monetary policy before the U.S. Senate Banking Committee from 10.00 a.m. ET. The markets will also look for his comments on recent U.S.-China trade tensions. Powell will answer questions from the House of Representatives Financial Services Committee on Wednesday. “The main focus of the day will be Powell’s presentation of the monetary policy,” said Peter Cardillo, chief market economist at Spartan Capital Securities in New York. “Investors will be listening very closely at what he’s going to say and…
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Wall Street bounces back on deals, earnings hope

Wall Street bounces back on deals, earnings hope

marketsNews
(Reuters) - U.S. stocks opened higher on Thursday, recovering from a selloff a day earlier as higher oil prices and merger activity helped offset fears of a Sino-U.S. trade war. [caption id="attachment_3728" align="aligncenter" width="858"] Traders work on the floor of the New York Stock Exchange.[/caption] The Dow Jones Industrial Average rose 102.45 points, or 0.41 percent, at the open to 24,802.90. The S&P 500 opened higher by 9.12 points, or 0.33 percent, at 2,783.14. The Nasdaq Composite gained 36.10 points, or 0.47 percent, to 7,752.71 at the opening bell. Reporting by Sruthi Shankar in Bengaluru; Editing by Shounak Dasgupta Want Better Returns in your Portfolio? Select Print Type: Paperback (Black & White Only) $14.95 USD Paperback (Full Color) $64.95 USD Save a tree? Buy an ebook copy instead at the…
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China says will hit back after U.S. proposes fresh tariffs on $200 billion in goods

China says will hit back after U.S. proposes fresh tariffs on $200 billion in goods

globalMarketsNews, marketsNews, US Economy
BEIJING/WASHINGTON (Reuters) - China accused the United States of bullying and warned it would hit back after the Trump administration raised the stakes in their trade dispute, threatening 10 percent tariffs on $200 billion of Chinese goods. [caption id="attachment_3723" align="aligncenter" width="1054"] A worker helps load steel bars onto a truck at a warehouse of the Baifeng[/caption] China’s commerce ministry said on Wednesday it was “shocked” and would complain to the World Trade Organisation, but did not immediately say how it would retaliate. In a statement, it called the U.S. actions “completely unacceptable”. The foreign ministry described Washington’s threats as “typical bullying” and said China needed to counter-attack to protect its interests. “This is a fight between unilateralism and multilateralism, protectionism and free trade, might and rules,” foreign ministry spokeswoman Hua…
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Wall Street enters third day of gains as trade fears ease

In the News, marketsNews
(Reuters) - U.S. stocks rose on Monday, with bank stocks leading third day of gains in a row after strong U.S. jobs data from last week helped investors brush aside trade concerns. FILE PHOTO: Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., July 6, 2018. REUTERS/Brendan McDermid The S&P financial index rose 1.3 percent, providing the biggest boost to the main S&P index. But gains were widespread, with technology, energy, industrials, consumer discretionary and healthcare stocks rising. The United States and China engaged in tit-for-tat tariffs on Friday, both countries imposing duties worth $34 billion on each others’ goods. But the benchmark S&P 500 closed up 0.84 percent on Friday as many analysts said the move was already priced in, but warned…
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Wall Street opens lower on oil price slide

Wall Street opens lower on oil price slide

marketsNews
(Reuters) - The Dow shed more than 100 points at the open on Wednesday, as a slide in oil prices hit global markets and concerns about the fate of U.S. tax cuts continued to weigh on the mood. The Dow Jones Industrial Average .DJI fell 109.77 points, or 0.47 percent, to 23,299.7.The S&P 500 .SPX lost 13.02 points, or 0.50 percent, to 2,565.85. The Nasdaq Composite .IXIC dropped 39.19 points, or 0.58 percent, to 6,698.68. Reporting by Sruthi Shankar in Bengaluru; Editing by Anil D'Silva Possible Buy in at $27.54 for ERX
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Wall Street opens lower on tax reform uncertainty

Wall Street opens lower on tax reform uncertainty

marketsNews
(Reuters) - Wall Street opened lower on Monday amid growing uncertainty over a U.S. tax reform deal. The Dow Jones Industrial Average .DJI fell 60.63 points, or 0.26 percent, to 23,361.58. The S&P 500 .SPX lost 6.5 points, or 0.25 percent, to 2,575.8. The Nasdaq Composite .IXIC dropped 19.96 points, or 0.3 percent, to 6,730.98. Reporting by Sruthi Shankar in Bengaluru; Editing by Anil D'Silva
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Wall St. set to open lower on lack of fresh catalysts

Wall St. set to open lower on lack of fresh catalysts

marketsNews
(Reuters) - Wall Street was set to open lower on Thursday in the absence of fresh catalysts and rising skepticism over a Republican tax overhaul plan that is expected to boost economic growth and create more jobs. A U.S. Senate tax-cut bill, differing from one already in the House of Representatives, was expected to be unveiled on Thursday, complicating a tax overhaul push. The S&P 500 has risen about 21 percent since the election of President Donald Trump a year ago, partly on the back of his promises to cut taxes and other business-friendly measures. However, Republicans are yet to score a major legislative win since Trump took office in January, even though the party controls both chambers of Congress as well as the White House. Investors were also concerned…
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Wall Street climbs on strong private jobs data, oil gains

Wall Street climbs on strong private jobs data, oil gains

marketsNews
(Reuters) - The three major U.S. stock indexes added to their recent record run on Wednesday, as energy shares gained from a jump in oil prices and financials rose after strong private jobs data. JPMorgan (JPM.N) and Bank of America (BAC.N) rose about 1 percent, while Goldman Sachs’ (GS.N) 1.5 percent increase gave the biggest boost to the Dow. The rise was also supported by Facebook’s (FB.O) 1.4 percent gain ahead of its earnings report. U.S. private employers hired 235,000 workers in October, the most since March and exceeding a median forecast of 200,000 among economists polled by Reuters, the ADP National Employment Report showed. “We’re in a very positive environment,” said Andre Bakhos, managing director at Janlyn Capital in Bernardsville, New Jersey. “Economic data and earnings continue to remain…
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Wall Street opens higher on strong earnings

Wall Street opens higher on strong earnings

marketsNews
(Reuters) - Wall Street opened higher on Tuesday, the last trading of October, helped by a string of upbeat earnings reports from companies such as Kellogg and Mastercard. The Dow Jones Industrial Average .DJI rose 26.64 points, or 0.11 percent, to 23,375.38. The S&P 500 .SPX gained 2.9 points, or 0.11 percent, to 2,575.73. The Nasdaq Composite .IXIC added 17.59 points, or 0.26 percent, to 6,716.55. Reporting by Tanya Agrawal; Editing by Sriraj Kalluvila
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