Latest News

Stocks Fluctuate With Fed Downshift Wagers Intact: Markets Wrap

0

S&P Futures

3,978.25

+12.50(+0.32%)

 

Dow Futures

33,860.00

+57.00(+0.17%)

 

Nasdaq Futures

11,694.00

+48.50(+0.42%)

 

Russell 2000 Futures

1,822.40

+2.70(+0.15%)

 

Crude Oil

71.92

+0.46(+0.64%)

 

Gold

1,812.50

+11.00(+0.61%)

 

Silver

23.28

+0.04(+0.17%)

 

EUR/USD

1.0564

+0.0004(+0.04%)

 

10-Yr Bond

3.4910

0.0000(0.00%)

 

Vix

22.62

-0.06(-0.26%)

 

GBP/USD

1.2277

+0.0039(+0.32%)

 

USD/JPY

135.8480

-0.7820(-0.57%)

 

BTC-USD

17,248.45

+400.79(+2.38%)

 

CMC Crypto 200

407.12

+12.43(+3.15%)

 

FTSE 100

7,463.25

-8.92(-0.12%)

 

Nikkei 225

27,901.01

+326.58(+1.18%)

 

Stocks Climb, Yields Steady Before Inflation Data: Markets Wrap

(Bloomberg) — US equity futures rose Friday before a report on US producer prices that will be one of the final pieces of data to inform a rate decision by the Federal Reserve next week.

Most Read from Bloomberg

Tesla’s Troubles Are Piling Up While Elon Musk Is Distracted With Twitter

Putin Calls Russian Nukes Deterrent Factor, Says War Risk Rising

Elon Musk’s Bankers Consider Tesla Margin Loans to Cut Risky Twitter Debt

WNBA Star Griner Freed in One-for-One Swap for Arms Dealer

Peru’s President Accused of Coup After Move to Dissolve Congress

Contracts on the S&P 500 added 0.3% after the underlying benchmark notched its first advance this month. A European equity benchmark swung to a gain, paring its weekly loss to 1.2%. Asian equities headed for their sixth weekly gain, the longest such stretch in two years.

Treasury yields were little changed, with the 10-year rate just below 3.5%. The dollar erased a loss.

Investors are taking heart from any signs of softness in prices that may allow policymakers around the world to be less hawkish and more supportive of growth.

At the same time, Fed officials are leery of fanning stock rallies that ease financial conditions too much and thwart their inflation-fighting mission. Strategists have lined up to warn investors against piling back into risk on hopes the Fed is getting close to pivoting to easier policy.

“Central banks will rather be on the safe side when it comes to future inflation after having underestimated inflationary pressures last year,” Karsten Junius, chief economist at Bank J. Safra Sarasin Ltd., wrote in a note to clients, adding that a pause in rate hikes is some way off.

Friday’s US producer price index for November will offer a progress report on how effective the Fed’s campaign to quell inflation has been. The PPI in October cooled more than expected. And there are some signs the labor market has tempered, with continuing jobless claims climbing to the highest since early February.

“Traders will be closely watching today’s PPI data, with S&P 500 options markets pricing the largest potential move around any PPI release this year,” said Hugo Bernaldo, senior cross-asset trader at Optiver. “Investors will also be looking for clues in today’s data of how Tuesday’s more important CPI figures will come in.”

Elsewhere in markets, oil rose Friday while heading for a weekly drop of around 10% after a volatile session on Thursday on concerns over economic outlook. Gold advanced for a fourth day.

Key events this week:

US PPI, wholesale inventories, University of Michigan consumer sentiment, Friday

Some of the main moves in markets:

Stocks

Futures on the S&P 500 rose 0.3% as of 6:10 a.m. New York time

Futures on the Nasdaq 100 rose 0.4%

Futures on the Dow Jones Industrial Average rose 0.2%

The Stoxx Europe 600 rose 0.6%

The MSCI World index rose 0.3%

Currencies

The Bloomberg Dollar Spot Index was little changed

The euro was little changed at $1.0557

The British pound rose 0.2% to $1.2260

The Japanese yen rose 0.4% to 136.12 per dollar

Cryptocurrencies

Bitcoin rose 0.2% to $17,214.43

Ether rose 0.4% to $1,283.57

Bonds

The yield on 10-year Treasuries was little changed at 3.49%

Germany’s 10-year yield advanced five basis points to 1.87%

Britain’s 10-year yield advanced three basis points to 3.12%

Commodities

West Texas Intermediate crude rose 1% to $72.16 a barrel

Gold futures rose 0.3% to $1,807 an ounce

This story was produced with the assistance of Bloomberg Automation.

–With assistance from Rob Verdonck.

Most Read from Bloomberg Businessweek

Airbus Is Coming for Boeing’s 737

China Is the Wild Card for Global Inflation in 2023

The US’s New Approach to Venezuela Is Starting to Bear Fruit

The Cult of the Retail Trader Has Fizzled

The Viral List That Turned a Yale Professor Into an Enemy of the Russian State

©2022 Bloomberg L.P.

Advertisement

Dow Jones Falls On Hot Inflation Data; Lululemon Dives 10% On Earnings; Netflix Jumps On Upgrade

Previous article

Xi Jinping’s visit to Saudi Arabia is bad news for the Kremlin

Next article

You may also like

Comments

Leave a reply

Your email address will not be published. Required fields are marked *

More in Latest News