Bulletin
Investor Alert

Topics

Federal Reserve

Video

What Your Breakfast Can Tell You About Inflation Worries

  • What Your Breakfast Can Tell You About Inflation Worries What Your Breakfast Can Tell You About Inflation Worries 5:50
9:43 a.m. Oct. 15, 2021 - By Myra P. Saefong
Gold futures end lower, but post a modest gain for the weekGold futures , pressured by strength in Treasury yields and U.S. benchmark stock indexes, but prices still saw a modest gain for the week, the strongest advance in six weeks. Gold gave back most of its gain for the week on Friday, "with investors choosing the racier equity markets over the haven asset," said Fawad Razaqzada, market analyst at ThinkMarkets. The metal "remains stuck inside its existing ranges as investors wonder whether bond yields and the dollar will resume higher," with the Federal Reserve seen tapering its bond purchases program in mid-November or mid-December," he said. "Other investors will be happy to buy the dips as the metal is considered to be a good hedge against inflation." December gold declined by $29.60, or nearly 1.7%, to settle at $1,768.30 an ounce. Prices based on the most-active contract rose 0.6% for the week, the biggest weekly rise since the week ended Sept. 3, FactSet data show.
12:10 p.m. Oct. 13, 2021 - By Mark Decambre
S&P 500, Nasdaq Composite snap 3-session skid but Dow ensnared in longest losing skid in three weeksU.S. stocks ended mostly in positive territory Wednesday, halting a string of losses at three, as investors digested minutes from the Federal Reserve's Sept. 21-22 policy meeting that seemed to underscore the cetnral bank's plan to dial back its monthly purchases of Treasurys and mortgage-backed securities as evidence of inflation show that pricing pressures continue to percolate. The Dow Jones Industrial Average ended lower but almost unchanged at about 34,378. Still, it was the fourth straight decline for the blue-chip benchmark, matching the longest losing skid ended Sept. 21, FactSet data show. The S&P 500 index closed up 0.3% at 4,363, while the Nasdaq Composite Index rose 0.7% at about 14,572, and marked the best day since Oct. 7. Several Fed officials said they even preferred a more rapid reduction of the central bank's current $120 billion pace of monthly purchases, rather than the $15 billion reduction anticipated. Data showed that the U.S. consumer-price index rose 0.4% in September after climbing 0.3% in August, the Labor Department said on Wednesday. In the 12 months through September, the CPI increased 5.4% after advancing 5.3% year-over-year in August.
12:11 p.m. Oct. 12, 2021 - By Mark Decambre
The stock market closed lower Tuesday, logging another intraday reversal and a 3rd straight fall for the longest skid in 3 weeks U.S. stocks finished lower Tuesday, with the main indexes erasing early modest gains to close lower for the third straight decline for the three main equity benchmarks, ahead of the unofficial start of third-quarter results from American corporations. The Dow Jones Industrial Average fell 118 points, or 0.3%, the S&P 500 index declined 0.2% to 4,350, while the Nasdaq Composite Index declined 0.1% to 14,465. The small-capitalization Russell 2000 index , however, was headed for a close in positive territory, up 0.4%. Markets have been choppy amid concerns about slowing growth here and abroad and worries that inflation may be more durable than had been previously estimated by some members of the Federal Reserve. The International Monetary Fund said that it now sees global growth of 5.9% this year - down one-tenth of a percent from its July forecast - and then slowing to 4.9% growth in 2022. For the U.S., the IMF cut its growth estimate for this year down to 6%. Atlanta Federal Reserve President Raphael Bostic said that the recent burst of U.S. inflation is likely to last longer than expected and no longer should be considered "transitory." Minutes from the Fed's Sept. 21-22 meeting are due at 2 p.n. ET on Wednesday. Before that, a report on consumer inflation, the consumer price index, is due at 8:30 p.m. ET.
12:11 p.m. Oct. 6, 2021 - By Mark Decambre
Dow stages 560-point U-turn to end positive as McConnell says he'll allow Dems to pass short-term debt-limit extensionU.S. stocks on Wednesday staged a powerful intraday turnabout that resulted in all three indexes finishing in positive territory after sharp early losses. Stock-market investors have been buffeted lately by a surge in energy prices, notably natural-gas futures , heightening fears about a surge in inflation that might prompt the Federal Reserve to act sooner to end market-accommodative policies. The Dow Jones Industrial Average [: DJIA] closed over 100 points higher, or 0.3%, to reach about 34,417, and had been down by as many as 459 points, or 1.3%, while the S&P 500 index climbed 0.4% to 4,364, and the Nasdaq Composite Index advanced 0.5% to reach 14,501 but had seen an intraday low at 14,259.07, putting the technology-laden index down by as many as 1.2% on the session. For the Nasdaq Composite it was the biggest intraday turnaround since March 25, while it was the biggest intraday comeback for the Dow since Dec. 21, 2020, according to Dow Jones Market Data. A rise in yields, with the benchmark 10-year Treasury note reaching 1.57%, initially weighing on markets, but those rate moves subsided somewhat later in the session and reports about a possible detente between the GOP and Democrats set the stage for a mini comeback. Senate Minority Leader Mitch McConnell of Kentucky proposed allowing Democrats to "use normal procedures to pass an emergency debt limit extension at a fixed dollar amount to cover current spending levels into December." In economic data, a report from Automatic Data Processing Inc. showed that 568,000 private-sector jobs were created in September, outpacing estimates from The Wall Street Journal for 425,000. However, a reading for August was reduced to 340,000 from 374,000.
5:35 a.m. Sept. 30, 2021 - By Mark Decambre
U.S. stock market gains early Thursday as investors aim to close out downbeat SeptemberU.S. stocks rise Thursday, as Wall Street aims to wrap up the last trading day of September and the quarter, as investors await another appearance by Federal Reserve Chairman Jerome Powell Treasury Secretary Janet Yellen, who will appear before the House Financial Services Committee. The Dow Jones Industrial Average was up 164 points, or 0.5%, at 34,554, the S&P 500 index was climbing 0.5% to 4,381, while the Nasdaq Composite Index was up 0.7% early in the session. For the month, the Dow was headed for a 2.4% decline, the S&P 500 was down 3.2% and the Nasdaq Composite was off 4.3%. For the quarter, the Dow was flat, the S&P 500 was up 1.9% and the Nasdaq Composite was up 0.8%.
12:11 p.m. Sept. 29, 2021 - By Mark Decambre
Nasdaq Composite books 4th straight loss as stock-market rebound fades in final hour of Wednesday tradeU.S. stock-market benchmarks closed slightly higher but well off the best levels of Wednesday's trade as Wall Street attempted to recover some of the losses from Tuesday's yield-fueled rout. The Dow Jones Industrial Average closed up by about 90 points, or 0.3%, to 34,391, on a preliminary basis; the S&P 500 index advanced 0.2% to around 4,359, while the Nasdaq Composite Index declined 0.2% at 14,512 to mark the fourth straight decline. Renewed concerns about too-hot inflation, which could force the Federal Reserve to ramp up interest-rate hikes, is causing friction in equity markets. The 10-year Treasury note yields [ss: BX:TMUBMUSD10Y] 1.540%, up from 1.534% on Tuesday. A number of other concerns, including those centered on the debt limit and the worries about weakening economic output, are also buffeting bulls.
9:48 a.m. Sept. 29, 2021 - By Myra P. Saefong
Gold futures settle at lowest price in almost 6 monthsGold futures to settle at their lowest level since the end of March, with dollar-denominated prices for the precious metal pressured by strength in the U.S. dollar. The ICE U.S. Dollar Index was up 0.6% at 94.367, trading at the highest since September of last year, FactSet data show. While gold metal is likely to weaken further amid a stronger dollar, its outlook may be influenced by the Federal Reserve's "preferred inflation gauge," the core personal consumption expenditures price index, due out Friday, said Lukman Otunuga, manager, market analysis at FXTM. December gold fell $14.60, or 0.8%, to settle at $1,722.90 an ounce, the lowest most-active contract finish since March 31, FactSet data show.
5:35 a.m. Sept. 29, 2021 - By Mark Decambre
Dow industrials attempt to bounce back after Tuesday's yield-driven selloffU.S. stock benchmarks were trading higher early Wednesday, following the worst selloff for the S&P 500 in roughly four months, as surging bond yields spooked investors. The Dow Jones Industrial Average was trading 0.3% higher at 34,398, the S&P 500 index was gaining 0.4%, following its worst daily percentage decline since May 12. The Nasdaq Composite Index was trading 0.6% higher near the start of Wednesday's action, at 14,827. Yields began their ascent last week, following a Federal Reserve meeting that indicated the central bank was ready to begin backing away from its accommodative policy put in place to help the economy cope with the pandemic. On Wednesday, the 10-year Treasury yield was edging back at around 1.52%. Bond prices move in the opposite direction of yields.
9:43 a.m. Sept. 27, 2021 - By Myra P. Saefong
Gold futures tally a second straight gainGold futures , as eased back from their highest levels of the session. "Bearish elements," such as the hawkish comments from the Federal Reserve last week and expectations for interest rate hikes, have been predominant, said Carlo Alberto De Casa, analyst at Kinesis Money. For now, investors do not seem to be too worried about the risk of a domino effect from China property giant Evergrande's debt woes, he said. December gold rose 30 cents, or 0.02%, to settle at $1,752 an ounce. Prices posted a climb of 0.1% on Friday.
9:47 a.m. Sept. 23, 2021 - By Myra P. Saefong
Gold futures mark lowest finish in over 6 weeksGold futures moved to log their lowest finish in more than six weeks. The loss is "related to a combination of factors centered around investor confidence improving and fear easing," said Colin Cieszynski, chief market strategist at SIA Wealth Management. So far, China property giant Evergrande's problems have been contained, the Federal Reserve is moving toward tapering and at the Bank of England's monetary policy committee vote, there were two "hawkish dissenters" calling for reducing stimulus as well, he said. "A more hawkish trend for central banks improves the value of paper money relative to hard currency like gold." December gold fell $29, or 1.6%, to settle at $1,749.80 an ounce, the lowest most-active contract finish since Aug. 10, FactSet data show.
12:10 p.m. Sept. 22, 2021 - By Mark Decambre
Dow, S&P 500 post best daily gain in 2 months even as Fed says tapering of asset purchases coming soonU.S. stock indexes closed higher Wednesday, with the S&P 500 and the Dow industrials notching their best daily gains in about two months, as Federal Reserve Chairman Jerome Powell signaled the central bank may announce a pullback of its bond purchases in November and could start to raise interest rates in 2022, with both moves largely expected by market participants. Subsiding fears around embattled Chinese property development company Evergrande, which rattled investors on Monday, also helped set a more bullish tone on Wall Street. But investors are also watching developments in the U.S. Congress on raising the federal debt ceiling. The Dow Jones Industrial Average rose by about 338 points, or 1%, to reach 34,258, representing the best point and percentage gain for the blue-chip index since July 20; while the S&P 500 index climbed 1% to 4,395, marking the best day since July 23. The Nasdaq Composite Index , meanwhile, also rose 1% to 14,896 for its best day since Aug. 27, FactSet data show. In corporate news, shares of Stitch Fix Inc. rallied nearly 16% on Wednesday after reporting quarterly results.
10:08 a.m. Sept. 22, 2021 - By Mark Decambre
Dow rises over 400 points, adding to rally as Federal Reserve says reducing asset purchases 'may soon be warranted'The Dow industrials and the broader market held onto early sharp gains on Wednesday after the Federal Reserve kept rates unchanged, as expected, and indicated that tapering of asset purchases "may soon be warranted," without providing specific details on timing and pace. The Dow Jones Industrial Average was trading 449 points higher, or 1.3%, at 34,359, the S&P 500 index traded 1.2% up at 4,405, while the Nasdaq Composit Index advanced 1% at 14,895. The Fed decision will be followed by a news conference with Chairman Jerome Powell at 2:30 p.m. Eastern Time. The Fed has been buying $80 billion worth of Treasurys and $40 billion worth of mortgage-backed securities each month since last summer to keep long-term interest rates low and spur demand. Since the summer, the Fed has been talking about slowing down the purchases. The central bank has been guarded, worried there could be a repeat of the "taper tantrum" that roiled global financial markets in 2013. The formal announcement could come at the November 2-3 meeting or December 14-15, economists said.
10:08 a.m. Sept. 22, 2021 - By Myra P. Saefong
Gold settles slightly higher, extends gains after Fed policy statementGold prices settled with a , then moved up further after that they're almost ready to taper their bond-buying and expect to raise interest rates by late 2022. December gold was at $1,785.80 an ounce in electronic trading, following a settlement at $1,778.80, up 60 cents, or 0.03%, for the session.
9:42 a.m. Sept. 21, 2021 - By Myra P. Saefong
Gold futures settle higher for a second straight session Gold futures for a second straight session, buoyed in part by a pullback in the U.S. dollar. Investors continued to gauge economic concerns tied to a downturn in China's property market and awaited a monetary policy decision by the Federal Reserve due Wednesday. December gold rose $14.40, or 0.8%, to settle at $1,778.20 an ounce after climbing 0.7% on Monday.
5:34 a.m. Sept. 21, 2021 - By Mark Decambre
U.S. stocks drift higher early Tuesday as Wall Street attempts to bounce back from Evergrande-inspired routU.S. stock indexes climbed Tuesday morning, trading modestly higher as the market tries to recover from the worst single day for the S&P 500 in more than four months, sparked partly by concerns about Chinese property developer Evergrande. The Dow Jones Industrial Average gains 0.4% at 34,091, the S&P 500 index advanced 0.4% to 4,374, while the Nasdaq Composite Index climbed 0.4% to 14,776. Concerns about financial contagion from Evergrande, a property developer with some $300 bilion in debt, came at a critical juncture, with several firms having warned, correctly, that September would be bumpy for U.S. equities after a smooth summer. It also comes as the Federal Reserve kicks off its two-day policy meeting later Tuesday.
9:45 a.m. Sept. 17, 2021 - By Myra P. Saefong
Gold futures mark lowest settlement in over 5 weeksGold futures , posting a loss for the week and settling at their lowest in more than five weeks. Positive economic numbers coming in each week, the most recent being U.S. retail sales, have contributed to gold's loss, said Adam Koos, president at Libertas Wealth Management Group. "Any additional, positive, hawkish numbers like these are going to solidify any probability of a 'sooner-than-later' [Federal Reserve] tapering schedule, which wouldn't likely bode well for gold, or bonds, for that matter." December gold fell $5.30, or 0.3%, to settle at $1,751.40 an ounce - down 2.3% for the week. That was lowest finish for a most-active contract since Aug. 10, FactSet data show.
12:06 p.m. Sept. 16, 2021 - By Mark Decambre
Dow, S&P 500 close lower as Nasdaq Composite ekes out back-to-back gains in volatile Thursday actionU.S. equity markets on Thursday finished well off session lows, with the Nasdaq Composite booking consecutive gains but the S&P 500 and the Dow notching slight losses, as investors parsed economic reports ahead of a key gathering of policy makers next week. The turbulence in the session, similar to what the market has exhibited over the past week, came even as August retail sales produced an unexpected rise and a measure of activity in the Philadelphia Federal Reserve district that was stronger than expected. The Nasdaq Composite Index closed 0.1% higher at 15,182, on a preliminary basis, enough for its second straight gain; the S&P 500 index finished down 0.2% at around 4,474; while the Dow Jones Industrial Average fell 0.2% to about 34,751. Data showed August retail sales rose 0.7%, defying forecasts for a 0.7% fall. Excluding autos, sales jumped 1.8%, compared with expectations for a rise of 0.2%. Separately, the Philadelphia Fed's activity index jumped to 30.7 in September from 19.4 a month earlier. At the same time, data showed first-time claims for unemployment benefits rose more than expected in the week ending Sept. 11, though continuing claims fell. In corporate news, AMC Entertainment Holdings Inc. announced in August it would accept bitcoin for online ticket and concession purchases before the end of the year. Thursday's trade was informed by a big pullback in China stocks, with the Shanghai Composite ending down 1.3%. Investors are looking ahead to the Federal Reserve's two-day policy meeting that kicks off on Sept. 21.
5:34 a.m. Sept. 16, 2021 - By Mark Decambre
Dow climbs at the open but broader stock market kicks off Thursday's trade under pressureU.S. stock benchmarks were mixed Thursday morning, with the Dow industrials posting modest gains while the broader market was under pressure, after August retail sales showed an unexpected rise and a measure of activity in the Philadelphia Federal Reserve district came in stronger than expected. The Dow Jones Industrial Average rose 0.3% at 34,909, the S&P 500 index declined less than 0.1%, while the Nasdaq Composite Index was down 0.3% at 15,120. August retail sales rose 0.7%, defying forecasts for a 0.7% fall. Excluding autos, sales jumped 1.8%, compared with expectations for a rise of 0.2%. Meanwhile, Philadelphia Fed's activity index, which jumped to 30.7 in September from 19.4 a month earlier. At the same time, data showed first-time claims for unemployment benefits rose more than expected in the week ending Sept. 11, though continuing claims fell.
12:05 p.m. Sept. 15, 2021 - By Mark Decambre
S&P 500 posts best daily gain in nearly 3 weeks as energy stocks surge 3.8%, financials and tech stocks also riseU.S. stocks benchmarks closed solidly higher Wednesday, with the S&P 500 putting in the best daily gain since late August, as shares of energy compaies, information technology and financial climbed. The S&P 500 index closed up 0.9% at around 4,480, marking its best point and percentage advance since Aug. 27. The Dow Jones Industrial Average closed up 0.7% at 34,814, while the Nasdaq Composite Index advanced 0.8% at 15,161, marking its best day since Aug. 30. In economic data, the New York Fed's Empire State business conditions index surged 16 points to 34.3 in September, the regional Fed bank said Wednesday.Separately, the import price index dropped 0.3% last month, the government said Wednesday, marking the first decline in 10 months. And data on U.S. industrial production showed a 0.4% rise in August after a 0.8% gain in the prior month, the Federal Reserve reported Wednesday.
9:34 a.m. Sept. 13, 2021 - By Myra P. Saefong
Gold futures end higher, but fail to reclaim the $1,800 markGold futures , but only managed to briefly trade above the key $1,800 mark. "Policymakers have seemingly been keen to ensure the [economic] data doesn't distract from the central bank's intentions to taper this year, understanding the importance of effective communication when approaching major policy shifts," said Craig Erlam, senior market analyst at Oanda."That's held gold back even as the data has softened," he said. "There's plenty more to come this week, but [gold] may trade cautiously still," ahead of next week's Federal Reserve policy meeting. December gold rose $2.30, or 0.1%, to settle at $1,794.40 an ounce after losing more than 2% last week.
9:35 a.m. Sept. 8, 2021 - By Myra P. Saefong
Gold futures stretch losses to a second straight session Gold futures stretched their losses into a . "Gold, like all markets, is trading on a day-to-day basis according to how traders are interpreting the tea leaves for [Federal Reserve] monetary policy," said Brien Lundin, editor of Gold Newsletter. The metal was "victimized" Tuesday by higher Treasury yields as the "markets felt the lousy jobs number would prompt the Fed to ignore higher inflation" and on Wednesday, gold was "hurt by a slight rebound in the dollar index." Investors await further directional cues for the precious metal from the Fed's Beige Book report on economic conditions due out shortly. December gold fell $5, or 0.3%, to settle at $1,793.50 an ounce.
9:43 a.m. Sept. 7, 2021 - By Myra P. Saefong
Gold futures settle below $1,800 an ounceGold futures , settling below the key $1,800 mark for the first time since Aug. 26, after ending last week at their highest since mid-June. The drop in prices is a "reaction to dollar strength and ," said Michael Armbruster, managing partner at Altavest. If the Federal Reserve's Beige Book report due out Wednesday "suggests that the U.S. economy is cooling, then that would be a bullish factor for gold," he said. For now, "we still like buying gold on dips below $1,800." December gold fell $35.20, or 1.9%, to settle at $1,798.50 an ounce after posting a fourth consecutive weekly gain last Friday. U.S. trading was closed Monday for the Labor Day holiday.
12:08 p.m. Sept. 3, 2021 - By Mark Decambre
Nasdaq Composite marks 35th record close of 2021 but S&P 500, Dow limp lower after weak Friday jobs reportU.S. stock indexes ended mixed Friday, with the Nasdaq booking its 35th record close of 2021, but the other two main bourses closing lower, heading into a three-day Labor Day weekend, after a report on monthly employment from the Labor Department came in weaker than expected, sparking fresh questions about the job market's recovery from the COVID-19 pandemic amid the spread of the delta variant. The Dow Jones Industrial Average closed down 0.2% on the session and booked a weekly decline of 0.24%. The S&P 500 index finished 0.03% lower on Friday but marked a 0.6% gain for the week, while the Nasdaq Composite notched a 0.2% gain for the day, enough for a record closing high---its 35th of the year---contributing to a weekly gain of 1.6%, FactSet data show. Monthly reports from the Labor Department showed that the U.S. economy added 235,000 jobs in August, far fewer than forecast for an increase of 720,000, but the unemployment rate dropped to 5.2% from 5.4% and touched a new pandemic low. The jobs report is creating some uncertainty about the monetary-policy plans for the Federal Reserve. Fed Chairman Jerome Powell has signaled that the central bank would use employment as a key indicator while it considers the end of its pandemic-era measures to add liquidity to markets.
5:39 a.m. Sept. 3, 2021 - By Mark Decambre
Dow slumps at Friday's open after U.S. jobs report comes in weaker than expected U.S. stock benchmarks wobbled lower Friday after the Labor Department's employment report for August showed that a weaker-than-expected 235,000 jobs were created, even as the unemplyoment rate fell to 5.2% from 5.4% in the prior month. The Dow Jones Industrial Average was trading 0.3% lower at 35,340, the S&P 500 index was down 0.3% at 4,523, while the Nasdaq Composite Index was trading 0.3% lower at 15,285 early in the session. Economists surveyed by the Wall Street Journal had forecast on average that 720,000 jobs would be created in August. The data raises some questions about the timing and pace of the Federal Reserve's plans to remove monetary policies that have been in place since the height of the disruptions to financial markets from the COVID-19 pandemic. The lackluster headline employment figure also raises the question of how well the economy is growing jobs in the aftermath of the pandemic amid the emergence of the highly transmissible COVID-19 delta variant.
12:07 p.m. Sept. 1, 2021 - By Mark Decambre
Nasdaq Composite books 33rd record of 2021 to kick off in September but Dow and S&P 500 are lacklusterThe Nasdaq Composite extended its climb into record territory on Wednesday notching its 33rd record of 2021, despite an August private-sector employment report coming in below forecasts, which puts Friday's monthly government jobs report and the timing for tapering of the Federal Reserve's bond purchases in focus. The Nasdaq Composite closed 0.3% higher at a record close at around 15,309, the S&P 500 index finished less than 0.1% higher at 4,524, on a preliminary basis, missing its Aug. 30 record by 4 points, and the Dow Jones Industrial Average ended lower, down 0.1%, at 35,312, pressured lower by declines in Caterpillar Inc. and Amgen Inc. . The Automatic Data Processing report showed a second straight month of weak jobs creation, with August adding 374,000 private-sector jobs, far below the 600,000 forecast by economists surveyed by The Wall Street Journal. On top of that, July's rise in jobs was reduced to 326,000 from 330,000.
9:43 a.m. Sept. 1, 2021 - By Myra P. Saefong
Gold futures ease back as investors await jobs reportGold futures , giving back a portion of the gains seen a day earlier. Gold will continue to "consolidate" until this Friday's U.S. labor market report, said Edward Moya, senior market analyst at Oanda. "After Friday, Wall Street will have a good handle on when to expect the [Federal Reserve] to make a taper announcement," he said. December gold fell $2.10, or 0.1%, to settle at $1,816 an ounce after ending Tuesday up 0.3%.
10:04 a.m. Aug. 30, 2021 - By Myra P. Saefong
Gold futures end lower, but hold above the key $1,800 markGold futures , easing back after posting a gain last week, but prices remained above the key $1,800 mark. At the Jackson Hole central-bankers symposium on Friday, Federal Reserve Chairman Jerome "Powell's inaction on tapering means gold has retracted all of August's previous 7% plunge," but silver prices trade lower month to date, said Adrian Ash, director of research at BullionVault. "That could be an early indication that the post-COVID reflation is running out of juice, because it means the market currently sees the industrial outlook weakening versus the need for a safe haven." December gold fell $7.30, or 0.4%, to settle at $1,812.20 an ounce.
10:00 a.m. Aug. 27, 2021 - By Myra P. Saefong
Gold futures settle back above $1,800, up 2% for the weekGold futures climbed back above $1,800 an ounce on Friday, settling up 2% for the week. At the Jackson Hole central-bankers symposium, Federal Reserve Chairman Jerome Powell "didn't hard-line a taper timeline," said Adam Koos, president at Libertas Wealth Management Group. "While there are still supportive fundamentals at play here, short-term [gold] prices are likely rising on hope that the timeline will be tempered." The gold market didn't learn anything from Powell's remarks that it didn't already know so for that reason, "gold is breathing a sigh of relief into the weekend," said Koos. December gold rose $24.30, or nearly 1.4%, to settle at $1,819.50 an ounce.
10:19 a.m. Aug. 26, 2021 - By Mark Decambre
U.S. stock market slide to Thursday lows as investors focus on Jackson Hole, and as at least 60 Afghans killed in Kabul attackU.S. stock benchmarks were at session lows Thursday afternoon as investor awaited guidance from Federal Reserve Chairman Jerome Powell at a virtual gathering of central bankers at Jackson Hole, and amid reports that were killed near Kabul airport during U.S.-led evacuation efforts from the Taliban-controlled country. The Dow Jones Industrial Average was down 140 points, or 0.4%, at 35,266, the S&P 500 index was down 0.5% at 4,475, while the Nasdaq Composite Index was trading 0.4% lower at 14,986. Heading to the Friday speech by Powell, money managers have mostly been focused on cues on the central bank's plans for tapering stimulus measures.
9:51 a.m. Aug. 26, 2021 - By Myra P. Saefong
Gold futures touch highs above $1,800 an ounce Gold futures , touching intraday highs above the psychologically important $1,800 mark and recouping some of the losses suffered in the previous session. Investors await a speech from Federal Reserve Chairman Jerome Powell at the Jackson Hole symposium Friday for hints on the timing of the central bank's plan to scale back crisis-era monetary policy accommodations. December gold rose $4.20, or 0.2%, to settle at $1,795.20 an ounce after losing 1% Wednesday.
5:32 a.m. Aug. 26, 2021 - By Mark Decambre
Dow drifts higher at Thursday's open but S&P 500 and Nasdaq retreat from records as Jackson Hole loomsU.S. stocks were trading mixed Thursday morning, with the Dow edging up, and the S&P 500 and the Nasdaq Composite pulling back from all-time highs ahead of an important speech from Federal Reserve Chairman Jerome Powell on Friday. The Dow Jones Industrial Average [: DJIA] rose 45 points, or 0.1%, at 35,441, the S&P 500 index declined less than 0.1% at 4,492, after the broad-market index put in its 51st record of 2021, while the Nasdaq Composite Index slipped less than 0.1% at 15,040, following its 30th record high of 2021 on Wednesday. In economic data, an updated reading of U.S. gross domestic prodict, or GDP, showed that the U.S. economy grew at an annualized rate of 6.6% in the second quarter, an upward revision from the initial reading at 6.5%, but below economists average estimates of 6.7% as surveyed by Dow Jones. Weekly jobless claims, meanwhile, came in at 353,000, hanging around a pandemic low.
6:11 a.m. Aug. 24, 2021 - By Mark Decambre
Nasdaq Composite carves out fresh intraday record at Tuesday's open as stock market clambers higher U.S. stocks on Tuesday grinded higher toward all-time highs as investors responded positively to strong corporate earnings and the economic rebound against COVID-19, despite the spread of the delta variant of the disease. The Dow Jones Industrial Average gained 0.1% to 35,382, the S&P 500 index rose 0.1% and climbed near a record high at 4,489.88, and the Nasdaq Composite Index rose 0.3%, after carving out an intraday record at 15,003.20. In corporate news, Best Buy Co. Inc. shares were in focus after the consumer electronics retailer reported second-quarter earnings that beat expectations and raised its same-store sales guidance for the year. At the end of the week, Federal Reserve Chairman Jerome Powell is expected to deliver a speech that might provide some insights on the timing and scope of tapering asset purchases for the central bank.
9:53 a.m. Aug. 23, 2021 - By Mark Decambre
UBS Wealth Management lifts S&P 500 2021 target to 4,600 and forecasts index to hit 5,000 by end of next yearUBS Global Wealth Management said it raised its S&P 500 targets on the back of strong quarterly results for U.S. corporations and a likely easy-money posture from the Federal Reserve. "Solid economic and corporate profit growth, in conjunction with a still-accommodative Fed, means that the environment for stocks remains favorable," wrote David Lefkowitz, head of equities Americas at UBS Global Wealth Management, in a Monday research note. The wealth management unit has raised its targets for the S&P 500 2021 to 4,600 from, 4,500 and has initiated a target of 5,000 for the broad-market index for the end of 2022 after raising its second-half forecast for that year to 4,800 from 4,650. The upgrade comes as the S&P 500 carved out an intraday record on Monday, up more than 1% to 4,489.88. Meanwhile, the Nasdaq Composite Index was surging 1.6% at around 14,944, at last check, after logging its own intraday record at 14,951.88. The Dow Jones Industrial Average was trading 0.7% higher at 35,378.
9:43 a.m. Aug. 23, 2021 - By Myra P. Saefong
Gold futures climb back above $1,800 to highest finish in over two weeks Gold futures rose back to settle at the highest price for a most-active contract since Aug. 5, according to FactSet data. Weakness in the U.S. dollar provided support for the dollar-denominated metal, extending the modest rise in prices seen on Friday, as investors await monetary policy symposium later this week. December gold rose $22.30, or nearly 1.3%, to settle at $1,806.30 an ounce.
1:20 p.m. Aug. 20, 2021 - By Mark Decambre
Fed regional bank shifts Jackson Hole symposium to virtual event: reports The highly anticipated Jackson Hole gathering of monetary policy makers will be held entirely remote, according to reports. reported that the Federal Reserve Bank of Kansas City said the annual symposium in Jackson Hole, Wyo., which was scheduled to be held in-person on Aug. 26-28, will be held virtually, as the delta variant of COVID-19 intensifies.
12:09 p.m. Aug. 20, 2021 - By Mark Decambre
Dow snaps 3-session skid to end above 35,000 as tech rallies, but stocks book weekly losses as delta variant hits confidenceU.S. stocks on Friday booked a strong finish to an otherwise turbulent week that saw all three main equity index log weekly losses. The Dow Jones Industrial Average rose by about 225 points, or 0.7%, ending higher for the first time in four sessions, with a weekly decline of 1.1%. The S&P 500 index closed 0.8% higher to around 4,442, with a weekly slide of 0.6%. The Nasdaq Composite Index enjoyed the best session on Friday, rising 1.2%, helping to cut its weekly slide to 0.7%. The week ended higher belieing lingering concerns about the delta variant's impact on the economy. One Federal Reserve policy maker said he may rethink his call for a tapering of bond purchases to start in October, if the variant slows economy. In an interview with Fox Business Network on Friday, Federal Reserve Bank of Dallas President Robert Kaplan said the variant has caused him to have an open mind about the path of monetary policy. He called it "the big imponderable"
12:10 p.m. Aug. 19, 2021 - By Mark Decambre
Dow logs 3rd straight decline but small-caps take it on the chin Thursday, as S&P 500 and Nasdaq halt skidsU.S. stock benchmarks on Thursday finished a turbulent session mostly flat and the S&P 500 and the Nasdaq Composite eked out small gains to halt a multiday skid. However, the Dow Jones Industrial Averaged booked its third straight drop, representing its longest bout of losses since the five-session period ended June 18. The S&P 500 index closed up 0.1% at 4,406, finishing higher for the first time in three sessions, while the Nasdaq Composite closed up 0.1% at around 14,542, booking its first gain in four sessions. The Dow , however, declined 0.2% to 34,894, weighed by declines in Boeing Co. , Caterpillar Inc. and Goldman Sachs Group Inc. . Investors have grown cautious on stocks as concerns about the delta variant of COVID-19 threaten to dent the global economic recovery. Investors also are worried about the Federal Reserve's plans to taper its monthly purchases of bonds. But it was small-cap stocks that saw outsize losses on Thursday. The Russell 2000 Index of small-cap stocks finished down 1.3%. The performance for markets came even as weekly data showed that jobless claims fell to a pandemic low of 348,000 last week.
5:37 a.m. Aug. 19, 2021 - By Mark Decambre
Dow industrials sink at Thursday's open, on pace for longest string of losses in 2 monthsU.S. stocks on Thursday morning slumped, a day after minutes of the Federal Reserve's July meeting showed the central bank was preparing to pull back on its stimulus measures this year as worries rise over the spread of the delta variant of the coronavirus that causes COVID-19. The Dow Jones Industrial Average was off 154 points, or 0.5%, at 34,805, the S&P 500 index was down 0.5% at 4,379, while the Nasdaq Composite Index was trading 0.5% lower at around 14,460. The Dow and S&P 500 were on track to notch their third straight decline, which would mark the blue-chip index's longest string of losses since June 18 and the longest period of declines for the S&P 500 since July 19. In corporate news, Shares of Robinhood Markets Inc. were in focus after the online broker's cautious outlook on the third quarter. See: Robinhood earnings show a company reliant on quieting retail traders and volatile crypto pricing. In economic news, the Philadelphia Fed said its manufacturing index fell to 19.4 in August from 21.9 a month earlier, while a reading of first-time claims for U.S. unemployment benefits fell more than expected last week to 348,000, a pandemic low. Economists had expected 365,000 initial claims.
3:54 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%.
9:37 a.m. Aug. 12, 2021 - By Myra P. Saefong
Gold prices ease back a day after a sharp climbGold futures , easing back from Wednesday's more than 1% climb. Prices in the short term are "dependent on the strength of the U.S. economy," said Chintan Karnani, director of research at Insignia Consultants. The outlook of the U.S. economy for the fourth quarter and next year "will determine when the Federal Reserve will start withdrawing stimulus money," he said. December gold edged down by $1.50, or about 0.1%, to settle at $1,751.80 an ounce.
Browse topics:

Filter results by

Location

Us (501)

Asia Pacific (72)

Europe (61)

Eu (60)

China (15)

Japan (10)

Link to MarketWatch's Slice.