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Tag Archives: slips
‘Freud’s Last Session’ Review: Anthony Hopkins Slips Easily Into Sigmund’s Skin in Talky Two-Hander – Variety
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Asia And Europe Markets Dip, Crude Slips To $85 – Global Markets Today While US Was Sleeping – ETC Gavekal Asia Pacific Government Bond ETF (ARCA:AGOV), SmartETFs Asia Pacific Dividend Builder ETF (ARCA:ADIV) – Benzinga
- Asia And Europe Markets Dip, Crude Slips To $85 – Global Markets Today While US Was Sleeping – ETC Gavekal Asia Pacific Government Bond ETF (ARCA:AGOV), SmartETFs Asia Pacific Dividend Builder ETF (ARCA:ADIV) Benzinga
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Stock Market Today: Dow Slips, S&P 500 Edges Up Ahead of Debt-Ceiling Talks – The Wall Street Journal
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Wall St slips as labor market data fuels Fed worry
NEW YORK, Jan 19 (Reuters) – U.S. stock indexes closed lower on Thursday after data pointing to a tight labor market renewed concerns the Federal Reserve will continue its aggressive path of rate hikes that could lead the economy into a recession.
A report from the Labor Department showed weekly jobless claims were lower than expected, indicating the labor market remains solid despite the Fed’s efforts to stifle demand for workers.
Expectations the central bank would further dial down the size of its interest rate increases at its policy announcement next month were unchanged by the report.
Investors have been looking for signs of weakness in the labor market as a key ingredient needed for the Fed to begin to slow its policy tightening measures.
Other data showed manufacturing activity in the mid-Atlantic region was subdued again in January, while data from the commerce department confirmed the recession in the housing market persisted.
“What we are seeing is the market carving out a bottom in the uncertainty so the news is having less of an effect and what we are seeing today is really just a continuation of that,” said Brad McMillan, chief investment officer for Commonwealth Financial Network, an independent broker-dealer in Waltham, Massachusetts.
“The fact we are not seeing more of a reaction says a lot of the bad news is out there.”
The Dow Jones Industrial Average (.DJI) fell 252.4 points, or 0.76%, to 33,044.56, the S&P 500 (.SPX) lost 30.01 points, or 0.76%, to 3,898.85 and the Nasdaq Composite (.IXIC) dropped 104.74 points, or 0.96%, to 10,852.27.
Recent comments from Fed officials continue to highlight the disconnect between the central bank’s view of its terminal rate and market expectations.
Boston Fed President Susan Collins echoed comments from other policymakers to support the case for interest rates to rise beyond 5%.
But stocks moved off their session lows after Fed vice chair Lael Brainard said the Fed is still “probing” for the level of interest rates that will be necessary to control inflation.
Markets, however, see the terminal rate at 4.89% by June and have largely priced in a 25-basis point rate hike from the U.S. central bank in February, with rate cuts in the back half of the year. .
Both the S&P 500 and the Dow fell for a third straight session, their longest streak of declines in a month.
On the earnings front, Procter & Gamble Co (PG.N) declined 2.11% after warning of commodity costs pressuring profits, despite raising its full-year sales forecast.
Analysts now expect year-over-year earnings from S&P 500 companies to decline 2.8% for the fourth quarter, according to Refinitiv data, compared with a 1.6% decline in the beginning of the year.
Netflix Inc (NFLX.O) closed 3.23% lower ahead of its results scheduled for release after the closing bell on Thursday. But the stock rebounded to gain 3.33% after posting subscriber gains for the quarter and the departure of co-founder Reed Hastings as chief executive to an executive chairman role.
Declining issues outnumbered advancing ones on the NYSE by a 1.49-to-1 ratio; on Nasdaq, a 1.70-to-1 ratio favored decliners.
The S&P 500 posted 1 new 52-week highs and 3 new lows; the Nasdaq Composite recorded 46 new highs and 33 new lows.
Reporting by Chuck Mikolajczak, editing by Deepa Babington
Our Standards: The Thomson Reuters Trust Principles.
Wall Street slips as concerns rise of stricter China COVID curbs
Nov 21 (Reuters) – Wall Street’s main indexes ended Monday roughly down on fears that China could resume stricter measures to fight COVID-19 after it said it faces its most severe test of the pandemic.
Beijing said on Monday it would shut businesses and schools in hard-hit districts and tighten rules for entering the city, as infections ticked higher.
“There is this fear that China might reinstitute some of the COVID restrictions that they’ve just purportedly started to lift,” said Carol Schleif, deputy chief investment officer at BMO Family Office.
U.S. casino operators with businesses in China including Wynn Resorts Ltd (WYNN.O), Las Vegas Sands Corp (LVS.N), MGM Resorts International (MGM.N) and Melco Resorts & Entertainment Ltd all fell at least 2%.
The Dow Jones Industrial Average (.DJI) fell 45.41 points, or 0.13%, to 33,700.28, the S&P 500 (.SPX) lost 15.4 points, or 0.39%, to 3,949.94 and the Nasdaq Composite (.IXIC) dropped 121.55 points, or 1.09%, to 11,024.51.
Trading volume was low on Monday, and likely to lessen towards the Thanksgiving holiday on Thursday, leaving markets more prone to volatility.
Volume on U.S. exchanges was 9.43 billion shares, compared with the 11.88 billion average for the full session over the last 20 trading days.
“If you want to blame a little bit of profit taking on some concerns on spikes in COVID cases, that’s fine,” said Jack Janasiewicz, lead portfolio strategist and portfolio manager at Natixis Investment Managers Solutions. “It gets really tricky because of volume.”
Stocks trimmed losses in early afternoon after the San Francisco Federal Reserve President Mary Daly commented that officials need to be careful to avoid a “painful downturn.”
Cleveland Fed President Loretta Mester echoed Daly, saying she supports a smaller rate hike in December.
The S&P 500 energy sector index (.SPNY) fell almost 3% on Monday to its lowest level in four weeks as oil prices tumbled more than 5% after a report that Saudi Arabia and other OPEC oil producers were discussing an output increase. The index, however, pared losses after Saudi Arabia denied talks about it.
Energy was the only major S&P 500 sector eying gains for the year, surging around 63%.
Walt Disney Co (DIS.N) jumped 6.30% after Bob Iger’s return as chief executive to the entertainment giant.
The S&P 500 extended its fall from the previous week when multiple Federal Reserve officials reiterated the central bank’s pledge to raise rates until inflation was in check, as investors now await the release of minutes from the Fed’s November meeting on Wednesday.
Traders are widely betting on a 50-basis point hike in the December meeting, with a peak for rates expected in June.
Among other stocks, Tesla Inc (TSLA.O) plummeted 6.84% after the electric-car maker said it will recall vehicles in the United States over an issue that may cause tail lights to intermittently fail to illuminate.
Gay dating app Grindr (GRND.N) tumbled 46.00% amid a broader market weakness, after skyrocketing in its debut on the New York Stock Exchange in the previous session.
Declining issues outnumbered advancing ones on the NYSE by a 1.27-to-1 ratio; on Nasdaq, a 1.60-to-1 ratio favored decliners.
The S&P 500 posted 9 new 52-week highs and 2 new lows; the Nasdaq Composite recorded 96 new highs and 220 new lows.
Reporting by Carolina Mandl, in New York, Ankika Biswas, Shubham Batra and Shreyashi Sanyal in Bengaluru; Editing by Arun Koyyur, Shounak Dasgupta and Grant McCool
Our Standards: The Thomson Reuters Trust Principles.
S&P 500 slips as hawkish rate view, labor data weigh
Nov 17 (Reuters) – The S&P 500 fell modestly on Thursday as hawkish comments from a U.S. Federal Reserve official and data showing the labor market remained tight led some investors to worry about more aggressive interest rate hikes.
Equities fell sharply early in the session and then rebounded, with the Dow last edging higher, supported by an upbeat earnings outlook from Cisco Systems (CSCO.O).
Stocks have retreated in recent days after a strong month-long rally after softer-than-expected inflation reports raised hopes the Fed would temper its rate hikes.
“Hope springs eternal in the equity market, and the markets have been fighting the Fed,” said Sameer Samana, senior global market strategist at Wells Fargo Investment Institute in St. Louis.
“You have had these reversals, you have had these spectacular rallies. But yet, when you look back at the full year 2022, you have had lower highs and lower lows and there’s nothing to suggest that we have broken that pattern.”
The Dow Jones Industrial Average (.DJI) rose 22.8 points, or 0.07%, to 33,576.63, the S&P 500 (.SPX) lost 9.27 points, or 0.23%, to 3,949.52 and the Nasdaq Composite (.IXIC) dropped 9.73 points, or 0.09%, to 11,173.93.
St. Louis Fed President James Bullard said the central bank needs to keep raising rates given that its tightening so far “had only limited effects on observed inflation.”
Data showed the number of Americans filing new claims for unemployment benefits fell last week, suggesting the labor market remained tight, after a report on Wednesday detailed strong retail sales growth last month that indicated the economy has weathered rate hikes.
Bets from traders of a 75 basis point hike at the Fed’s next meeting climbed to 19% from about 15% a day earlier, according to the CME Group’s FedWatch tool, with the remaining odds placed on a smaller 50 basis point increase.
Cisco shares rose over 4% after the company raised its full-year revenue and profit forecast with supply chain hurdles easing. The stock helped drive a 0.3% increase in the heavyweight S&P 500 information technology sector (.SPLRCT).
Most S&P 500 sectors were lower, however, with utilities (.SPLRCU) and materials (.SPLRCM) both dropping about 1.4%.
In other company news, shares of Macy’s (M.N) surged over 14% after the department store chain raised its annual profit forecast on resilient demand for high-end clothes and beauty products.
Declining issues outnumbered advancing ones on the NYSE by a 2.54-to-1 ratio; on Nasdaq, a 1.83-to-1 ratio favored decliners.
The S&P 500 posted no new 52-week highs and 1 new lows; the Nasdaq Composite recorded 28 new highs and 144 new lows.
Reporting by Lewis Krauskopf in New York, Bansari Mayur Kamdar, Ankika Biswas and Amruta Khandekar in Bengaluru; Editing by Vinay Dwivedi, Arun Koyyur and David Gregorio
Our Standards: The Thomson Reuters Trust Principles.
Drake Slips On Boots & Diamond-Encrusted Shirt for 36th Birthday Party – Footwear News
Drake celebrated his 36th birthday with a star-studded bash at Sexy Fish in Miami on Monday night. Several famous faces pulled up to the shindig including DJ Khaled, 21 Savage and Kanye West’s former girlfriend Chaney Jones.
Drake looked dapper for the evening, arriving in a lilac suit. Ensuring that all eyes would be on him, the award-winning rapper complemented his ensemble with a purple silk shirt that boasted a diamond-encrusted collar and cuffs.
Drake arrives at his birthday party at Sexy Fish in Miami, FL on October 24, 2022. CREDIT: Pichichipixx / SplashNews.com
To take things up a notch, Drake accessorized with diamond stud earrings and a blinged out chain. Drake’s hair was styled in neat stitch braids.
21 Savage attends Drake’s 36th birthday party at Sexy Fish in Miami, FL on October 24, 2022. CREDIT: Pichichipixx / SplashNews.com
DJ Khaled attends Drake’s 36th birthday party at Sexy Fish in Miami, FL on October 24, 2022. CREDIT: Pichichipixx / SplashNews.com
Chaney Jones attends Drake’s 36th birthday party at Sexy Fish in Miami, FL on October 24, 2022. CREDIT: Pichichipixx / SplashNews.com
Completing Drake’s look was a set of grey leather boots. The silhouette had an elongated almond-shaped toe and included a small, stacked block heel.
Boots are a must-have during the fall season. The shoe style easily adds a stylish touch to any wardrobe and offers endless versatility.
Drake arrives at his 36th birthday party at Sexy Fish in Miami, FL on October 24, 2022. CREDIT: Pichichipixx / SplashNews.com
When it comes to fashion, Drake is comfortably in his own lane. He tends to take a more subtle approach to style, often dressed in Stone Island tracksuits, retro Nike sportswear, and custom-tailored suits. Statement pieces are peppered in from time to time as well like vintage outerwear, uncommon throwback jerseys, or valuable Supreme collaborations. When he wants to rep his squad, expect some pieces from his OVO clothing label to also make an appearance.
PHOTOS: Click through the gallery to see Drake’s best style moments over the years.
Dow Slips Again After Entering Bear Market
The Dow industrials and the S&P 500 fell again Tuesday as investors parsed a spate of economic data and comments from Federal Reserve officials.
All three indexes spent much of the morning in the green, but it didn’t last. The Dow Jones Industrial Average, which entered a bear market on Monday, fell 125.82 points, or 0.4%, to 29134.99. That marked its sixth consecutive day in the red.
The broad S&P 500 slipped 7.75 points, or 0.2%, to 3647.29, closing at its lowest level of the year for the second day in a row. The S&P is also now down for six days in a row, its longest losing streak since February 2020, according to Dow Jones Market Data.
The technology-heavy Nasdaq Composite rose 26.58 points, or 0.2%, to 10829.50.
Tuesday’s declines prolong a brutal year for financial markets. Stocks and bonds have both dropped sharply this year, an unusual tandem that reflects just how unnerved many investors feel. The Dow, the S&P and the Nasdaq are all on pace for their worst first nine months of a year since 2002.
Stubbornly high inflation has roiled markets since the start of the year. The Federal Reserve in response has been raising interest rates to try to cool the economy, stoking fears that the central bank will tip the U.S. into recession. Some investors hoped this summer that the rate increases might be coming to an end, and stocks rebounded briefly. Now, investors are coming to grips with the idea that bigger interest-rate increases—and weaker global economic growth—are here to stay for quite a while.
Neel Kashkari,
president of the Federal Reserve Bank of Minneapolis, reaffirmed the central bank’s resolve to bring down persistent and elevated inflation in a Tuesday interview with The Wall Street Journal. “There’s a lot of tightening in the pipeline,” Mr. Kashkari said, adding that the Fed is “committed to restoring price stability” but also recognizes “there is a risk of overdoing it.”
A sharp rise in interest rates has been weighing on stocks, said
Mimi Duff,
managing director at GenTrust, a registered investment adviser with about $3 billion in assets. “I think we need to start seeing the rates stabilize before we can bottom out in equities,” she added.
“The equity market is paying attention to this perpetual ratcheting higher of terminal rates in the U.S.,” said
Charles Diebel,
head of fixed income at Mediolanum International Funds. “The more the terminal rate goes up—while necessary to deal with the inflation threat—the bigger the economic downturn will be.”
On the economic front, data Tuesday showed that companies reduced durable goods orders for a second straight month. Home prices continued to notch big year-over-year gains, but the pace of that growth slowed. Home prices fell month over month.
However, consumers are growing more optimistic about the U.S. economy. The Conference Board’s consumer-confidence index increased in September for the second month in a row, lifted in part by falling gas prices.
Bond prices continued to fall, pushing up yields. The yield on the 10-year Treasury rose to 3.963%, once again hitting its highest level since 2010.
Traders worked on the floor of the New York Stock Exchange on Monday.
Photo:
REUTERS
Oil prices rebounded after slumping Monday to their lowest level since January. Brent crude, the international oil benchmark, rose 2.6% to $86.27 a barrel.
Global stock markets were mixed. The Stoxx Europe 600 edged down 0.1%.
In Asia, stocks closed mostly higher. Japan’s Nikkei 225 index rose 0.5% while China’s Shanghai Composite rose 1.4%. Hong Kong’s Hang Seng Index ended the day close to flat.
Write to Will Horner at william.horner@wsj.com
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SpaceX’s next astronaut launch for NASA slips to late September
SpaceX’s next Dragon passengers will need to wait a little longer to get off the ground.
SpaceX and NASA will launch Crew-5, their next crewed mission to the International Space Station, no earlier than Sept. 29, according to a NASA statement (opens in new tab) released on Thursday (July 21). The delay will see the mission slip behind the next launch of astronauts on a Russian Soyuz vehicle.
“A launch at the end of September will allow SpaceX to complete hardware processing and mission teams will continue to review the launch date based on the space station’s visiting spacecraft schedule,” NASA officials wrote.
In pictures: Amazing launch photos of SpaceX’s Crew-4 mission
Crew-5 includes NASA astronauts Nicole Mann and Josh Cassada, Japanese astronaut Koichi Wakata and Russian cosmonaut Anna Kikina.
The flight will be a crucial milestone for NASA, which has long argued in favor of “crew swaps” in which Russian cosmonauts fly on NASA’s commercially procured missions and NASA astronauts continue to ride on Russian Soyuz capsules.
After lengthy negotiations, NASA announced last week that Crew-5 will be the first SpaceX flight to carry a cosmonaut. NASA and the Russian space agency Roscosmos have also agreed that cosmonaut Andrei Fedyaev will fly on Crew-6, currently targeting launch in the spring. Meanwhile, NASA astronauts Frank Rubio and Loral O’Hara will each fly on Soyuz missions in the coming months.
The new schedule for Crew-5 means that the vehicles will be swapping launch slots as well as passengers.
The Crew-5 mission was previously aiming to arrive at the orbiting laboratory earlier in September. Under the new schedule, rather than Crew-5 replacing the currently orbiting Crew-4 astronauts before the next Soyuz launch, the Soyuz crews will turn over first. The launch of the next Soyuz and return of the current Soyuz crew is scheduled to occur between Sept. 16 and Sept. 30, according to NASA.
In addition to the schedule update, NASA and SpaceX also offered details about the rocket and capsule that will fly Crew-5.
The mission will use the Dragon capsule Endurance, which also carried Crew-3 for a November 2021 launch; the capsule returned to Earth from that flight in early May. Although SpaceX routinely reflies its hardware, NASA noted that this flight will mark a new milestone; it will be the first commercial crew flight to carry four veteran Draco engines to steer the capsule, with no new so-called forward bulkhead Draco engines. Teams are also switching out the capsule’s heat shield, parachutes and pod panels, according to the statement.
Endurance will launch atop a brand-new Falcon 9 booster, but mission personnel still have some issues to address on that end as well. The booster sustained some damage during the journey from the SpaceX production center in California to a test facility in Texas, according to the statement. Accordingly, the company is replacing both the interstage, which connects the first and second stages, and some instruments.
Both SpaceX and NASA are confident in the booster, which underwent a host of tests to ensure that there was no damage beyond the interstage segment; additional tests will also occur after all the replacements are complete, according to the statement.
Email Meghan Bartels at mbartels@space.com or follow her on Twitter @meghanbartels. Follow us on Twitter @Spacedotcom and on Facebook.