Day: September 13, 2022
Sept. 12 will leave a mark that will probably stick for quite a while. Traders at the Bitfinex exchange vastly reduced their leveraged bearish Bitcoin (BTC) bets and the absence of demand for shorts could have been caused by the expectation of cool inflation data. Bears may have lacked confidence, but August’s U.S. Consumer Price […]
International Business Machines Corp. IBM, -2.61% said late Tuesday it will book a charge of about $5.9 billion in the third quarter to offload pension risk. The Armonk, NY-based tech company said in a Securities and Exchange Commission filing it is transferring about $16 billion of pension obligations, for benefits that began to be paid […]
Cathie Wood’s ARK Innovation ETF was tumbling Tuesday morning as technology stocks slumped amid concerns that a stronger-than-expected inflation reading Tuesday will lead to more aggressive interest rate hikes by the Federal Reserve. Shares of ARK Innovation ARKK, -6.79% were down 6.3% Tuesday morning, while the Technology Select Sector SPDR Fund XLK, -5.31% fell 3.8%, […]
Financial-technology stocks are among the biggest losers in the tech sector Tuesday after the August consumer-price index showed a surprise monthly increase, even as the year-over-year growth rate dropped to 8.3% from 8.5%. Shares of artificial-intelligence lending company Upstart Holdings Inc. UPST, -10.85% are off 9.3% in Tuesday morning trading, while shares of buy-now-pay-later operator […]
World Fuel Services Corp. INT, -3.35% said Tuesday it was raising its quarterly dividend by 17%, to 14 cents a share from 12 cents a share. The fuel distribution company’s new dividend will be payable Oct. 7 to shareholders of record on Sept. 23. The stock fell 3.2% in morning trading. Based on current stock […]
U.S. stock futures retreated on Tuesday as the August consumer-price index came in surprisingly hot, sending short-term Treasury yields to their highest levels since 2007, while derivatives traders priced in a 20% chance of a 100 basis-point interest-rate hike when the Fed meets later this month. Futures for the S&P 500 SPX, -4.32% were down […]
US CPI Up Next Today’s US CPI release is drawing a great deal of attention in the run up to the September FOMC meeting. Market pricing has recently swung in favour of a larger .75% hike. However, USD has been trading lower over recent days as increased hawkishness from the ECB and hawkish expectations ahead […]
Equities Rallying As USD Continues to Fall Global equities benchmarks have seen a much stronger start to the week. Extending gains from the backend of last week, the current equities rally is in good health again this week, owing much to the weakness in the US Dollar. With the greenback having pulled away sharply from […]
Tuesday’s August consumer-price index report, which showed “very stubborn” pressure remaining in the gauge which excludes food and energy, “is a game changer in terms of Fed expectations,” Jefferies economists Aneta Markowska and Thomas Simons said in a note. They said a 4% terminal fed funds rate, the level at which the Fed is seen […]
U.S. stocks finished sharply lower Tuesday, with all three major indexes posting their worst daily drop since June 2020 as high U.S. inflation has proven hard for the Federal Reserve to tame through rate hikes. The Dow Jones Industrial Average DJIA, -3.94% fell about 1,276 points, or 3.9%, ending near 31,104. The S&P 500 index […]
