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9:46 p.m. Jan. 17, 2022 - By Barbara Kollmeyer
Nasdaq-100 futures tumble as Treasury yields surge to pre-pandemic levelsStock futures fell Tuesday, with Nasdaq-100 futures dropping 1% as U.S. Treasury yields shot higher across the board. S&P 500 futures were off 0.5%, with Dow industrials futures modestly lower. The losses came as the yield on the 10-year Treasury climbed 5 basis points to 1.83% and that of the two-year note jumped 9 basis points to 1.04%, both at levels not seen since early 2020, before the pandemic took hold. U.S. markets were closed on Monday for the Martin Luther King Jr. holiday. Investors are mulling prospects for Federal Reserve tightening amid inflationary pressures. Oil prices were also surging on Tuesday, after Yemen's Iranian-backed Houthi rebels targeting a key oil facility in Abu Dhabi, killing three people and triggering a fire at the country's international airport on Monday. U.S. crude prices rose over 2% to $85.73 a barrel.
9:41 a.m. Dec. 16, 2021 - By Myra P. Saefong
U.S. oil prices settle at a 3-week highOil futures , with U.S. prices settling at their highest in about three weeks. The mood of the market has "shifted because of clarity from the Federal Reserve," said Phil Flynn, senior market analyst at The Price Futures Group. "The market was concerned that the Fed would be too aggressive and now we know where the Fed stands and that rates aren't going to rise tomorrow." Oil traders also seem "less concerned" about potential omicron-related restrictions in Europe, he said. Tensions between Russia and Ukraine are also supportive for oil, as that raises the potential for sanctions on Russia that could disrupt its energy sector, he added. January West Texas Intermediate crude rose $1.51, or 2.1%, to settle at $72.38 a barrel on the New York Mercantile Exchange, the highest front-month contract finish since Nov. 24, according to FactSet data.
9:45 a.m. Dec. 15, 2021 - By Myra P. Saefong
U.S. oil prices turn higher after Fed policy updateOil futures after the to speed up its reduction of monthly bond purchases and signaled three interest-rate hikes next year, instead of one. Oil was initially trading lower as concerns that the omicron variant of the coronavirus will slow energy demand outweighed support from data showing a bigger-than-expected weekly decline in U.S. crude supplies. The Fed statement suggested that the central bank is "going to be more hawkish than the market originally anticipated," said Phil Flynn, senior market analyst at The Price Futures Group. U.S. benchmark stock indexes "firmed up" following the news, as did oil prices, said Tariq Zahir, managing member at Tyche Capital Advisors. January West Texas Intermediate crude rose 14 cents, or 0.2%, to settle at $70.87 a barrel on the New York Mercantile Exchange after spending part of the session trading below the $70 mark.
9:40 a.m. Dec. 13, 2021 - By Myra P. Saefong
U.S. oil futures finish with a modest loss Oil futures , with U.S. benchmark prices posting a modest loss as traders continued to monitor the impact of the omicron variant of the coronavirus on global economic activity, and demand for energy. The U.S. Federal Reserve is also scheduled to make an announcement on monetary policy on Wednesday. "If the Fed gets too aggressive, it can slow the economy, but I think those fears are a bit overplayed," said Phil Flynn, senior market analyst at The Price Futures Group. For now, it's likely more of a "worry trade" for oil because of weakness in stocks, he said. January West Texas Intermediate crude fell 38 cents, or 0.5%, to settle at $71.29 a barrel on the New York Mercantile Exchange, following a climb of 1% on Friday.
9:53 a.m. Nov. 30, 2021 - By Myra P. Saefong
Oil futures suffer largest monthly loss since March 2020Oil futures , with prices posting their largest monthly loss since the pandemic officially began in March of 2020. "Crude prices got hit with a one-two punch" from the Moderna CEO's concern over the current MRNA vaccines' effectiveness with the omicron variant of the coronavirus, and after the Federal Reserve briefly sent the dollar higher and brought forward rate hike expectations, said Edward Moya, senior market analyst at Oanda. January West Texas Intermediate crude lost $3.77, or 5.4%, to settle at $66.18 a barrel on the New York Mercantile Exchange, with prices for the most-active contract down nearly 21% for the month, according to Dow Jones Market Data.
10:01 a.m. Oct. 11, 2021 - By Tomi Kilgore
Utilities stocks suffer broad weakness as Treasury yields climbThe utility sector suffered a broad selloff Monday, as the to multi-month highs acted as a counterweight. The SPDR Utilities Select Sector ETF dropped 1.4% in afternoon trading with 25 of 28 equities components losing ground. The decline was enough to pace all of the SPDR ETFs tracking the S&P 500's 11 key sectors in declines. Within the XLU, the biggest loser was NextEra Energy Inc.'s stock , which fell 3.0%. Among other more active components, shares of Exelon Corp. shed 1.7%, CenterPoint Energy Inc. slipped less than 0.1% and PPL Corp. gave up 0.7%, while Consolidated Edison Inc. was the best performer with a 1.0% gain. Meanwhile, the yield on the 10-year Treasury note was on track to close at the highest yield since June 3, and Treasury prices fell, as investors bet the Federal Reserve will cut its monthly Treasury purchases. Utilities stocks tend to be stable and have relatively high dividend yields, so they often trade as bond proxies, and fall when Treasury prices fall and Treasury yields rise. The utilities ETF's dividend yield is 3.09%, compared with the implied yield for the S&P 500 of 1.38% and the 10-year Treasury was recently at 1.614%.
9:55 a.m. Sept. 24, 2021 - By Tomi Kilgore
Utilities sector ETF falls toward record losing streak as Treasury yields jumpThe SPDR Utilities Select Sector ETF fell 0.2% in afternoon trading, putting them on track for a record losing streak and a two-month low, as a recent spike in longer-term Treasury yields made the higher-yielding sector tracker less attractive. The SPDR utilities ETF (XLU) is headed for the lowest close since July 22 and a 12th-straight decline, which would surpass the previous record for consecutive declines of 11, which ended Oct. 7, 2016. The XLU's recent selloff comes the yield on the 10-year Treasury note has run up 12.5 basis points in two days toward a 12-week high, after the Federal Reserve said the . Utilities stocks are viewed by many investors as a bond proxy, given their relative stability and relatively high yield -- the XLU's dividend yield of 3.03% compares with the implied yield for the S&P 500 of 1.36%. As bond yields rise, and bond prices fall, utilities stocks tend to fall. During the XLU's previous record losing streak, the 10-year Treasury yield had reached a 4-month high, on its way toward a more than 2-year high about two months later.
2:54 a.m. Aug. 16, 2021 - By MarketWatch
Fed officials nearing agreement to begin tapering in November: WSJFederal Reserve officials are moving toward agreement on a timetable that would see the central bank begin scaling back its easy-money policies in about three months if the economic recovery continues, . The report, citing public statements and interviews, said a string of strong employment reports have bolstered the case for the Fed to announce its next meeting, on Sept. 21-22, its intentions to begin tapering its monthly asset purchases. The tapering could potentially begin as soon as its following meeting in November, the report said. Some officials have called for ending the purchases by mid-2022, according to the Journal. The Treasury market took the report in stride, with the yield on the 2-year Treasury note down around 1 basis point at 0.205%, while the 10-year yield was down around 1.5 basis points at 1.283%.
9:50 a.m. June 18, 2021 - By Myra P. Saefong
Oil futures end higher, up a 4th straight weekOil futures , with U.S prices posting a gain for a fourth week in a row. Prices shook off much of the losses they saw Thursday on the back of strength in the dollar, which followed the Federal Reserve's suggestion that it may raise interest rates sooner than it previously expected. Traders continued to get a boost from expectations for stronger energy demand and eyed prospects for an Iran nuclear deal that would likely lead to more oil on the global market. Most appeared unconvinced that an agreement can be reached before the inauguration of a new Iran president in August. West Texas Intermediate oil for July delivery rose 60 cents, or 0.8%, to settle at $71.64 a barrel on the New York Mercantile Exchange. Prices based on the front-month contract tacked on 1% for the week.
9:47 a.m. June 16, 2021 - By Myra P. Saefong
U.S. oil futures eke out a slight gain U.S. oil futures barely notching their highest finish in over two and half years. Prices got a boost after the Energy Information Administration reported a larger-than-expected weekly decline in domestic crude inventories, but the U.S. dollar strengthened after the Federal Reserve said it may increase interest rates earlier than it previously expected, pressuring prices for dollar-denominated oil. West Texas Intermediate oil for July delivery rose 3 cents, or 0.04%, to settle at $72.15 a barrel on the New York Mercantile Exchange, the highest front-month contract finish since October 2018, FactSet data show. It had traded as high as $72.99 during the trading session.
4:53 p.m. April 28, 2021 - MarketWatch.com
Biden pitches families plan, infrastructure and calls on wealthy to pay ‘fair share’ in first speech to Congress: live blog and video State-of-the-Union-style speech will also focus on policing, immigrationPresident Joe Biden gives his first big speech to Congress on Wednesday night, in a State-of-the-Union-style address in which he’ll make the case to voters for his newly unveiled safety-net and education proposals.
7:12 a.m. April 8, 2021 - By Michael Ashbaugh
Bullish momentum persists: S&P 500 (slightly) extends April breakout Focus: Communications services sector tags record highs, Apple’s stealth trendline breakout, XLC, AAPL, IBM, ON, NUANU.S. stocks are mixed early Thursday, vacillating ahead of scheduled remarks from the Federal Reserve Chairman. Against this backdrop, the S&P 500 has tagged its latest record high, though narrowly, while the Nasdaq Composite has extended an already-aggressive trendline breakout.
6:58 a.m. April 7, 2021 - By Michael Ashbaugh
Bull trend confirmed: S&P 500 tags technical target (4,085) Focus: Europe digests break to 12-year highs, IEV, ASML, ADI, EMR, YUMU.S. stocks are mixed early Wednesday, vacillating ahead of the release of the Federal Reserve’s meeting minutes, due out this afternoon. Against this backdrop, the S&P 500 and Dow industrials are digesting decisive breaks to record territory, while the Nasdaq Composite has sustained an aggressive trendline breakout.
9:17 a.m. March 24, 2021 - By Michael Ashbaugh
Market rotation persists, S&P 500 capped by the breakdown point Focus: Small- and mid-caps extend March downturn, Nasdaq capped by 50-day averageU.S. stocks are mixed Wednesday, vacillating as Treasury yields continue to stabilize in the wake of largely uneventful Federal Reserve policy remarks. Against this backdrop, the S&P 500 remains capped by its breakdown point (3,950) amid still largely range-bound price action as market rotation persists.
7:20 a.m. March 19, 2021 - By Michael Ashbaugh
Charting another bull-trend pullback, S&P 500 tags familiar support Focus: Basic materials assert bull flag, XLB, WHR, FTNT, USB, FOURU.S. stocks are mixed early Friday, vacillating in the wake of this week’s Federal Reserve policy actions. Against this backdrop, the bigger-picture backdrop remains bullish, on balance, though the prevailing market technicals are not one-size-fits-all.
7:18 a.m. March 18, 2021 - By Michael Ashbaugh
Charting market rotation: Dow industrials take flight amid surging Treasury yields Focus: 10-year yield continues to take flight, TNX, NDAQ, DHI, XPO, VNOMU.S. stocks are mixed early Thursday, vacillating as market rotation persists after the Federal Reserve’s Wednesday policy statement. Against this backdrop, the Dow Jones Industrial Average has extended a break atop the 33,000 mark, as the Nasdaq Composite vies to simply maintain a posture atop its 50-day moving average.
6:54 a.m. March 17, 2021 - By Michael Ashbaugh
Charting a bull-trend pullback: S&P 500 digests breakout ahead of Fed Focus: Metals & mining sector sustains break to six-year highs, Facebook’s stealth trendline breakout, XME, FB, SIMO, SBUX, ANU.S. stocks are mixed early Wednesday, vacillating ahead of the Federal Reserve’s policy statement, due out this afternoon.
7:15 a.m. March 15, 2021 - By Michael Ashbaugh
Charting a slow-motion breakout attempt, S&P 500 nails the range top Focus: Retail sector tags record close, General Motors reaches uncharted territory, XRT, GM, LKQ, ANTM, JWNU.S. stocks are mixed early Monday, vacillating ahead of the Federal Reserve’s mid-week policy meeting. Against this backdrop, the Dow Jones Industrial Average is digesting an aggressive break to record territory, while the S&P 500’s slow-motion breakout attempt remains underway.
7:18 a.m. Feb. 10, 2021 - By Michael Ashbaugh
Bull trend pauses: S&P 500, Nasdaq digest breaks to uncharted territory Focus: Industrial sector’s breakout attempt, Zoom Video and McDonald’s signal trend shifts, XLI, XM, MCD, SWKS, HOLXU.S. stocks are mixed early Wednesday, treading water after a generally strong batch of quarterly earnings reports and ahead of scheduled remarks by the Federal Reserve Chairman. Against this backdrop, each big three U.S. benchmark is digesting its latest break to record territory amid thus far muted mid-week selling pressure.
7:00 a.m. Jan. 27, 2021 - By Michael Ashbaugh
Charting an intraday downdraft, S&P 500 retests near-term support (3,764) Nasdaq maintains gap support, Small- and mid-cap benchmarks retest near-term floorsU.S. stocks are firmly on the defensive early Wednesday, pressured after a mixed batch of quarterly earnings reports, and ahead of the Federal Reserve’s latest policy directive, due out this afternoon. Against this backdrop, the S&P 500 has ventured under its breakout point (3,826), pulling in to an initially successful retest of familiar near-term support (3,764).
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