34 minutes ago
Where are the major monthly and quarterly averages?
The average stock prices of the three major stocks have all been on the rise for five consecutive months, and have been rising for two consecutive quarters.
The S&P 500 ended the month up 3% and is on track to end the quarter up 10%. This is the highest growth in the first quarter since 2019.
The Dow Jones Industrial Average rose 2% in March and could rise 5.5% this quarter, potentially its best first-quarter performance since 2021. The tech-heavy Nasdaq Composite Index is on track to rise 1.9% this month and 9.3% over the past three months. period.
— Lisa Kailai Han
1 hour ago
Fed Governor: “There’s no need to rush to cut interest rates yet”
Fed Director Christopher Waller said late Wednesday that the latest U.S. inflation numbers show the Fed needs to keep interest rates at current levels.
“There is no need to rush to lower interest rates,” he said in a speech at the New York Economic Club. Recent data suggests that “to keep inflation on a sustainable trajectory towards 2%, it is probably prudent to keep interest rates in their current restrictive stance for longer than previously thought.” It shows that.”
“If we ease the economy too soon or too much, we are in a situation where inflation could return, and if we ease the economy too late, it could have an unnecessary negative impact on employment and people’s working lives,” he said. Ta. “I want to be careful.”
— Fred Imbert
3 hours ago
European stocks open higher on Thursday
European stocks opened higher on Thursday and continued to rise through early trading, with the region’s Stoxx 600 index up 0.2% as of 8:40 a.m. in London.
Markets have been slow this week, but major stock exchanges were up across the board on Thursday morning, with Germany’s DAX up 0.15%, while Britain’s FTSE 100 and France’s CAC 40 both rose 0.3%.
See chart…
STOXX 600 index.
4 hours ago
UK recession confirmed in fourth quarter data
Pedestrians pass the Elizabeth Tower, also known as Big Ben, at the Palace of Westminster, home to the Houses of Parliament, on February 22, 2024 in London. Protect yourself from the rain with an umbrella.
Henry Nichols AFP | Getty Images
The British economy fell into recession in the second half of last year. Final data The Office for National Statistics confirmed the announcement on Thursday.
Gross domestic product fell an unrevised 0.3% in the fourth quarter, following a 0.1% decline in the third quarter, the ONS said.
In the final quarter of 2023, production fell across the UK’s three main sectors: services, manufacturing and construction. Net trade, household consumption, and gross capital formation all declined.
— Jenny Reid
8 hours ago
Hong Kong tech index soars as Bilibili leads the way with an 8% rise
The Hang Seng High-Tech Index rose 2.6% as tech stocks rose, with Bilibili soaring 8.3%.
The tech index outperformed the broader Hang Seng index, which rose about 0.6%.
Biting Full year report Sales in 2023 were expected to be 22.53 billion yuan ($3.11 billion), and he said he was “confident” about sales growth in 2024.
Other stocks in the sector also rose, including Baidu, which rose 3.7%, and Tencent, which rose about 1%.
— Shreyashi Sanyal
10 hours ago
Strategist says Japan is ‘very close’ to yen intervention
Stephen Englander, head of global G10 currency research and North American macro strategy at Standard Chartered Bank, said Japan was “very close” to intervening in the yen.
“I think we’re actually very close to them. [Japanese authorities] Jumping in… They’re already discussing the political implications, and no one is sitting there asking for a weaker yen,” Englander told CNBC.
He said the intervention was aimed at buying time for Japanese authorities until the US Federal Reserve starts cutting interest rates or the Bank of Japan starts raising rates a bit more.
The Japanese yen fell 0.1% on Thursday, trading around 151.47 yen against the dollar, after falling to 151.97 yen to the dollar in the previous session, a 34-year low. This led to speculation in the market that the government might intervene to support the currency.
— Shreyashi Sanyal
13 hours ago
Barclays said inflows to cash could fall and more to risk assets.
Cash as an asset class has dominated equity flows, but Barclays believes its dominance may be nearing an end.
“Cash remains favorable with the highest inflows year-to-date, but we see momentum slowing,” analyst Emmanuel Cau said.
In the short term, Kau believes that quarter-end rebalancing could favor bonds over stocks. Further down the road, lower interest rates and strong earnings fundamentals could lead to even wider stock market gains.
He added: “A shift in market leadership away from US/tech/quality could lead to a healthy outward expansion and could even give the bull market more legs.”
— Lisa Kailai Han
13 hours ago
GE Vernova and Solventum will join the S&P 500 in April
GE Vernova and Solventum are expected to join the S&P 500 next week.
Solventum, 3M’s healthcare business, will be added to the broader market index on April 1st. expected to be spun off From multinational conglomerates. It trades under the symbol SOLV.
GE Vernova, General Electric’s power business, will become part of the S&P 500 on April 2nd. On the same day, the company will be officially separated from GE and will trade under the ticker GEV. On this date, GE will be renamed GE Aerospace and will maintain its position on both the S&P 500 and S&P 100.
S&P Dow Jones Indices will remove VF Corp and Dentsply Sirona from its composite market index, with the latter joining the S&P MidCap 400.
-Dara Mercado
13 hours ago
RH, Verint Systems Leads After Hours Movers
Check out the stocks that are trending in after-hours trading.
- RH — Shares of luxury home furnishings retailer RH continue to support demand trends through fiscal 2024, even as the company expects the business environment to “remain challenging” until interest rates ease and the housing market recovers. The index rose 7% after the company announced that it expects the economy to accelerate. However, RH missed fourth-quarter profit and revenue expectations, and first-quarter revenue fell to his low single digits.
- MillerKnoll — Shares plunged 12.8% after missing third-quarter revenue estimates. The company, which makes seating products and furniture systems, reported adjusted earnings of 45 cents per share, while analysts had expected 44 cents per share. Revenue was $872.3 million, below analysts’ expectations for the quarter of $909.6 million, according to FactSet.
- Sprinklr — Shares rose 7.6% as software stocks rose after the company beat expectations for fourth-quarter earnings and revenue. Sprinkler reported adjusted earnings of 13 cents per share, 4 cents more than analysts expected, according to FactSet. The company’s revenue was $194.2 million, which also exceeded expectations of $188.7 million.
- Verint Systems — Shares rose 5.2% after the customer engagement solutions provider beat fourth-quarter earnings per share and revenue estimates. The company posted adjusted earnings of $1.07 per share on sales of $265.1 million, compared to analysts’ expectations compiled by FactSet for adjusted earnings on sales of $262.5 million. was 97 cents per share.
— Peer Singh
13 hours ago
