Dow Jones stock Markets

The Nasdaq slumped 2% on Wednesday as tech stocks extended their sell-off for a second straight day on mounting concerns over aggressive actions by the ...

(Reporting by Bansari Mayur Kamdar and Praveen Paramasivam in Bengaluru; Editing by Sriraj Kalluvila and Shounak Dasgupta) “Real interest rates have moved up almost 100 basis points in a matter of months. Declining issues outnumbered advancers for a 2.84-to-1 ratio on the NYSE and a 3.12-to-1 ratio on the Nasdaq. The S&P index recorded 35 new 52-week highs and 21 new lows, while the Nasdaq recorded 25 new highs and 181 new lows. Spirit Airlines fell 1.8%. The S&P 500 growth index fell 2.5% and was on track for its worst session in nearly a month.

Stocks fell for a second day on Wednesday and rates soared as the Federal Reserve gave more guidance on how fast it will tighten monetary policy.

That includes names such as Alphabet and Nike — which have maintained "high and stable margins" even amid the pandemic, he said. "Should we be going into a recession it will be meaningful downside, but that's not the base case right now." The rate ended Monday at 2.40%. The minutes were from the Fed's March meeting when it raised rates by a quarter point and indicated six more hikes of that magnitude were coming this year. Apple, Microsoft, Amazon and Tesla contributed to the sector's decline. Utilities, health care and consumer staples sectors continued to climb Wednesday, with Amgen and Johnson & Johnson rising more than 2% each. Tech shares led Wednesday's slide, falling again for a second day as investors rotated out of the group and braced for higher rates to slow the economy. Stocks dipped to session lows after the release of the minutes but bounced back slightly to end the day. San Francisco Fed President Mary Daly echoed similar sentiments toward inflation on Tuesday. It's certainly not a tailwind for stocks." Consumer staples such as Coca-Cola and Procter & Gamble inched more than 1% higher. "Today and yesterday you're really starting to see the equity market catch up with the bond market," said Chris Zaccarelli, CIO at Independent Advisor Alliance. "And by that, I mean equities are starting to price in a more aggressive Fed. You're starting to see a bid for safety, you're seeing that classic risk-off move." "Many participants noted that — with inflation well above the Committee's objective, inflationary risks to the upside, and the federal funds rate well below participants' estimates of its longer-run level — they would have preferred a 50 basis point increase in the target range for the federal funds rate at this meeting," the minutes said.

The nation's central bank fleshed out more details on how it may undo the trillions of dollars in asset purchases it carried out during the COVID-induced ...

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The Fed's balance sheet currently stands at about $9 trillion, up from $4 trillion just prior to the start of the COVID-19 pandemic.

Billionaire investor Leon Cooperman says the US could enter recession in 2023, thanks to surging oil prices and aggressive Fed tightening. It became the first major bank to predict a US recession, arguing that such an event is necessary to tame inflation. Ether prices fell 3.79% to $3,217. Brent crude, oil's international benchmark, fell as much as 4.34% to $101.96 Michael Burry reactivated his Twitter account and tweeted support for Elon Musk taking a more than 9% stake in Twitter. "Of course @elonmusk buying enough shares to control Twitter would be good for America," Burry said in a now-deleted tweet. Bitcoin fell 3.38% to $43,667. Still, the 10-Year US Treasury yield climbed 5 basis points to 2.60% on Wednesday, representing its highest level since 2019. "It could take more than 5 years (and potentially as long as 8 years) to fully liquidate all of their holdings. The move comes after the US Treasury blocked Russia from making dollar debt payments using accounts at American banks. The monthly roll-off would consist of $60 billion in Treasuries and $35 billion in mortgage-backed securities. And some analysts were skeptical about how far the balance sheet reduction could go. "Investors should pay closer attention to what Powell has said: Financial conditions need to tighten," he said.

Investors were digesting the possibility of more aggressive monetary tightening by the Federal Reserve and monitoring the war in Ukraine.

- Saks Fifth Avenue:$20 off sitewide + free shipping - Saks Fifth Avenue coupon You may cancel your subscription at anytime by calling Customer Service. The S&P 500 was recently up 0.6%, a day after the benchmark gauge fell 1%.

Dow Jones futures: Federal Reserve fears hit the market rally for a second day, especially techs. Tesla, Nvidia and Apple had key chart moves.

That's still unclear, but the stock market rally is showing some serious strain, with Fed balance sheet cuts and rate hikes front and center. On the upside, fertilizer stocks are still running, but are greatly extended. The EV giant on Thursday raised the U.S. prices of the Model 3 Long Range by $1,500 and Model 3 Performance by $1,000. But, as with Tesla Berlin, production and deliveries from the Texas plant will be slow to start. If the market rally and highly valued growth stocks continue to falter, Tesla could retrace much or all of its recent gains, like Arista Networks and Nvidia stock. The major indexes and leading stocks will often rise on an escalator and come down on an elevator. Tesla stock sank 4.2% to 1,045.76. After surging since March 14 with only a couple of momentary pauses, TSLA stock finally could be working on a noticeable handle for its deep cup base. Wednesday's intraday drop offered a bit more of a shakeout in the tech titan's handle in the double-bottom base. The stock market rally suffered serious losses Wednesday, with hawkish Federal Reserve comments sinking techs and lifting Treasury yields for a second straight session.X The Dow Jones Industrial Average dipped 0.4% in Wednesday's stock market trading. But with a P-E ratio of 86, Fortinet stock may struggle as Treasury yields race higher. The comments by a previously dovish policymaker, on top of expectations of multiple 50-basis point Fed rate hikes at upcoming meetings, sent Treasury yields soaring and techs tumbling.

Minutes from the latest Fed meeting made investors nervous. Stock market investors have had to deal with a slew of factors affecting the financial markets, and ...

Indeed, if stock markets respond to rising rates by working their way lower, they'll effectively do some of the Federal Reserve's work to cool the economy for it. However, investors had already gotten advance warning of the gist of what the minutes revealed, so it's hard to put the blame for the market decline squarely on the Fed release. Indeed, with the latest report on employment showing that one of the Fed's dual mandates appears to be taken care of, refocusing its attention more squarely on inflationary pressures seems to make sense. Bond market participants had already anticipated those moves, as the current prices for short-term bonds reflect expectations not just for rate increases at each remaining Federal Open Market Committee meeting in 2022 but also for some of those boosts to be more than the traditional quarter-point increases the Fed has tended to prefer in the past. Fed policymakers are now in uncharted territory as they try to reverse some of the aggressive methods they've used to bolster economic activity. Stock market investors have had to deal with a slew of factors affecting the financial markets, and many of their concerns came to a head on Wednesday. With bond markets continuing to see yields push ever higher and turbulence in other areas like commodities, major stock indexes suffered declines.

European stocks climbed after Wednesday's sharp selloff and U.S. equity futures stabilized as investors digested the implications of a hawkish Federal ...

Which head of the Fed was best for the stock market? For unemployment? Inflation? Find the data here.

With Powell's term not yet over, and inflation both high and still rising, much is left to be written about Powell's duration as the head of the central bank. Janet Yellen (2014-2018). Appointed by President Barack Obama in 2014, Yellen also had big shoes to fill. Ben Bernanke (2006-2014). Appointed by President George W. Bush in 2006, Bernanke had big shoes to fill and soon, a historic crisis to confront. Inflation-adjusted annualized returns under Yellen are lower, at 11.9%, but still very impressive, with adjusted annualized returns the second-best in history. He is one of only two people in American history to serve as Fed chair and treasury secretary; Janet Yellen would become the second more than 40 years later. Greenspan oversaw the greatest cumulative return of any Fed chair ever, as the Dow more than quadrupled during his watch. Love him or hate him, Ben Bernanke will go down as one of the most important Federal Reserve chairs of all time. Eugene Robert Black (1933-1934). It's often forgotten that there was a reprieve from the turmoil on Wall Street between 1932 and 1937. While investors weren't greatly rewarded during this period, Americans as a whole were far better off at the end of Eccles' term, with the unemployment rate falling from 21.7% to 3.8%. From its peak in 1929 to Meyer's last day as chair, the Dow fell from 380 points to just 80 points, a plunge of roughly 80%. Serving through five presidencies, Martin is known for his tight money policies and for resisting political pressure from Washington, believing that the central bank should not bow to partisan whims. William P.G. Harding (1916-1922). Inflation would prove to be a real problem for Hamlin's successor, too, as wartime spending contributed to soaring prices.

U.S. stocks bounced back in the final hour of trading Thursday to cap a choppy session in the green as investors continued to mull a hawkish readout of ...

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The Iraq war doesn't have many parallels to Russia's invasion of Ukraine, other than perhaps global unpopularity. But there seems to be at least one ...

But there seems to be at least one parallel — how stocks have behaved, as this chart shows. Joachim Klement, strategist at Liberum Capital in London, says if stocks were to continue... History doesn’t repeat, but it does rhyme.

Remarks from Federal Reserve Gov. Lael Brainard on Tuesday pushed markets to price in more aggressive moves from the central bank this year to rein in ...

The Dow Jones Industrial Average closed down 145 points, or 0.4%, but above its low point for the day. The S&P 500 settled at 1% off, also above its low. The stock market fell, though it recovered some losses Wednesday after minutes from the Federal Reserve’s last meeting showed a half-point rate increase is possible and the good chance of a reduction in its balance sheet soon.

U.S. stock futures were slightly higher in pre-market trading Thursday following a hawkish readout of minutes from the Federal Reserve's last policy-setting ...

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Minutes from the March meeting of the Fed's monetary policy group suggested the central bank will move more aggressively to fight inflation.

Shortly after the open, the Dow Jones Industrial Average fell 55 points, or 0.2%, after the index retreated 144 points on Wednesday. The S&P 500 was little changed. The technology-focused Nasdaq Composite rose 0.1%. All three indexes dropped Tuesday and Wednesday, with the S&P 500 and Nasdaq falling a total of 2.2% and 4.4%,... Technology stocks were faring the best after two days of sharp selling.

U.S. stock futures were relatively steady Thursday, as Wall Street tried to avoid a three-session losing streak.

Berkshire has become more active in recent months, announcing a deal to buy insurance company Alleghany for $11.6 billion and scooping up shares of energy company Occidental Petroleum. Last month, Shell was forced to apologize for buying heavily discounted Russian oil and subsequently announced a withdrawal from Russia. Shell said Thursday it will write off between $4 billion and $5 billion after pulling out of Russia. The announcement offers a first glimpse at the potential financial impact to Western oil giants that exited Russia following Moscow's unprovoked invasion of Ukraine. Further details of the impact of ongoing developments in Ukraine will come in Shell's first-quarter earnings report on May 5, the company said. The size of those increases are the real question. The central bank is expected to hike rates at all six of its remaining meetings this year. U.S. stock futures were relatively steady Thursday, as Wall Street tried to avoid a three-session losing streak.

Minutes from the March meeting of the Fed's monetary policy group suggested the central bank will move more aggressively to fight inflation.

All three indexes dropped Tuesday and Wednesday, with the S&P 500 and Nasdaq falling a total of 2.2%... In morning trading, the Dow Jones Industrial Average fell 254 points, or 0.7%, after the index retreated 144 points on Wednesday. The S&P 500 was down 0.2%. The technology-focused Nasdaq Composite was little changed. Technology stocks were faring the best after two days of sharp selling.

U.S. stocks traded lower Thursday, while the dollar advanced to a fresh two-year high against its global peers and Treasury bond yields resumed their gains, ...

The tech-focused Nasdaq fell 5 points. Levi Strauss ( LEVI) - Get Levi Strauss & Co. Class A Report shares fell 3.7% after the iconic clothing maker posted stronger-than-expected first quarter earnings thanks in part to higher pricing and lower marketing costs. That move might be explained by the fact that, with the March jobs reports and Fed minutes behind it, the market can now shift focus to the start of earnings season next week, with analysts looking for collective S&P 500 profits to rise 6.4% from last year to a share-weighted $407.4 billion. The hawkish tone of the minutes -- including a reference to the fact that, but for the disruption of Russia's invasion of Ukraine on global markets, the Fed would have raised rates by 50 basis points last month -- cemented the case for faster and deeper rate hikes over the next three policy meetings, with the odds of a 50 basis point move in May now pegged at 81%. "As the Fed reduces bond holdings, the Treasury will need more private buyers of government bonds to roll over the federal debt and finance incremental borrowing," said Bill Adams, chief economist at Comerica Bank in Toledo, Ohio. "All things equal, more bond supply on the open market will tend to push bond prices lower and bond yields higher." U.S. stocks traded lower Thursday, while the dollar advanced to a fresh two-year high against its global peers and Treasury bond yields resumed their gains, as investors picked through details of minutes from the Federal Reserve's last policy meeting and geared-up for the start of the first quarter earnings season early next week.

Lael Brainard and Mary Daly, considered dovish voices at the Fed, have indicated at least one rate hike of 50 basis points is likely in the works.

In a Financial Times interview published Sunday, Daly said the case for a rate hike of 50 basis points "has grown," barring a negative surprise between now and Fed's next meeting. Minutes from the Fed's meeting in March were due Wednesday afternoon. The renewed nervousness among investors was spurred by hawkish remarks from Fed Governor Lael Brainard and San Francisco Fed President Mary Daly, who are both typically dovish voices.

A big leap in Treasury bond yields has stocks closing lower Wednesday, with tech leading the declines ahead of today's Fed minutes release.

That puts the Fed's $9 trillion balance sheet -- acquired by years bond purchases under its quantitative easing and pandemic support programs -- in focus. "Participants judged that it would be appropriate to move the stance of monetary policy toward a neutral posture expeditiously," the minutes said. Exxon shares rose 1.1% to $83.65 each. The U.S. House Energy and Commerce Subcommittee on Oversight and Investigations will ask bosses from Exxon Mobil ( XOM) - Get Exxon Mobil Corporation Report, Chevron ( CVX) - Get Chevron Corporation Report, Devon Energy ( DVN) - Get Devon Energy Corporation Report and others for the reasons as to while gasoline price rose so quickly during the early March run-up in crude prices, and whey they've taken so long to come down now that WTI crude is some 16% south of its March 8 peak. Gas prices hit an all-time high of $4.31 in early March, and were last seen pegged at a national average price of $4.164 by the AAA, a figure that would represent only a 3.5% decline. Executives of the biggest U.S. oil companies are expected to face a grilling from lawmakers in Washington Wednesday on record high gasoline prices as the impact of Russia's war on Ukraine continues to ripple into consumer spending in the world's biggest economy. In Europe, with investors focused on both the human tragedy from Russia's war on Ukraine and the impact of sanctions on exports from Moscow, oil prices extended gains ahead of a White House statement later today and comments from European Commission President Ursula von der Leyen that suggested crude could be the next target. Federal Reserve Governor Lael Brainard told an event in Minneapolis late Tuesday that the Fed would not only be "methodical" in its effort to raise interest rates in order to tame the highest levels of inflation in forty years, but it would also begin the run-off of the Fed's $9 trillion balance sheet as soon as next month, and at a "considerably" more rapid pace than in the past. China's Caixin PMI reading, a composite look at activity in the world's second-largest economy, plunged to 43.9 points last month, the lowest in more than two years and well below the 50 point mark that separates growth from contraction. Selling those assets into the bond market will raise 'market' interest rates alongside the official Fed Funds rate, creating a 'double-tightening' affect that will both tackle inflationary pressures more aggressively but also put the economy in a more vulnerable position in terms of a slowdown and resultant recession. The CME Group's FedWatch tool suggests a 77.7% chance of a 50 basis point hike in May, followed by a 60% chance in June and a 48.5% chance in July. Stocks extended declines, in fact, following release of the minutes, which indicated that the Fed will begin reducing its balance sheet by around $95 billion a month, nearly twice as fast as in 2017, while moving to 'expeditiously' lift interest rates.

Markets are pricing in more aggressive moves from the central bank this year to rein in inflation. Higher long-dated bond yields are hitting tech stocks ...

The Dow Jones Industrial Average closed down 145 points, or 0.4%, but above its low point for the day. The S&P 500 settled at 1% off, also above its low. The stock market fell, though it recovered some losses Wednesday after minutes from the Federal Reserve’s last meeting showed a half-point rate increase is possible and the good chance of a reduction in its balance sheet soon.

The Federal Reserve will have to get ugly with stock and bond investors if it wants to get inflation under control, says the former head of the New York ...

That would mean hiking rates much higher than market participants currently anticipate because the Fed, “one way or another, to get inflation under control…will need to push bond yields higher and stock prices lower.” That’s because investors expect higher short-term rates to undermine economic growth and force the Fed to reverse course in 2024 and 2025, he said — “but these very expectations are preventing the tightening of financial conditions that would make such an outcome more likely.” First-quarter losses in the bond market were the worst in a quarter century. The pain has been more intense in the bond market. But one thing is certain: To be effective, it’ll have to inflict more losses on stock and bond investors than it has so far.’” Investors have talked of a figurative Fed put since at least the October 1987 stock-market crash prompted the Alan Greenspan-led central bank to lower interest rates.

U.S. stock futures fell Wednesday morning as investors eyed more Western sanctions against Russia and digested hawkish remarks from key monetary ...

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