The S&P 500 was down about 0.2%, while the Dow Jones Industrial Average was down 150 points. The Nasdaq Composite fell 0.3%. The tech index, which started the week with a 2% rise, closed its second consecutive session on Wednesday, closing 2.2% lower. Meanwhile, the 10-year bond yield climbed again to yield 2.637% – the highest level in three years. The talks, analyzed in the minutes of the Fed meeting on March 15-16, published on Wednesday, indicate that policymakers will soon begin to unravel the central bank’s balance sheet of $ 9 trillion, including $ 4 trillion. to calm markets after the pandemic hit in early 2020. Minutes also say Many participants in the Federal Open Market Committee (FOMC) “would prefer a 50 basis point increase” in benchmark interest rates in March, when the Fed raised interest rates for the first time since 2018. “When these minutes really came out this afternoon, I think what you really saw was the stabilization around the news that the Fed has a big intention to fight inflation,” the Bank of America senior vice president told Yahoo Finance Live. Lisa Erickson. Economists at Bank of America, which recently revised its call from the Fed to include interest rate hikes by 50 basis points in June and July, said in a note Wednesday that recent minutes show enough evidence to lead the scales to double increase in May. “The reality is that we are in uncharted waters here and the Fed has a difficult task to loosen huge monetary support over the last two years,” Allianz Investment Management’s senior investment strategist Charlie Ripley said in a note. “In this context, it is very understandable that the uncertainty in the course of monetary policy will remain integrated into the markets and this is exactly what we have seen with the recent movements in interest rates and risk assets.” The story goes on Other opposite problems that investors must continue are the developments in the Russia-Ukraine war. The United States imposed another round of sanctions on Wednesday, including a ban on US investment in Russia. The sanctions also targeted Russia’s Sberbank and Alfabank, two of the country’s largest financial institutions, as well as the two adult daughters of President Vladimir Putin, the wife and daughter of Russian Foreign Minister Sergei Lavrov and senior members of Russia’s Security Council. However, the last punitive measures lacked energy transactions. Meanwhile, testifying before the House Finance Committee on Wednesday, US Treasury Secretary Janet Yellen warned that Russia’s war in Ukraine would have “huge economic consequences around the world,” including disruptions to food and energy. Helen also said that Russia should be expelled from the G20 economic forum and that the United States would boycott “certain G20 meetings” if Russian officials were to attend. –
9:30 a.m. ET: Shares fall for a third straight day as investors weigh the Fed’s minutes
Here are the main moves in the markets during Thursday’s launch campaign:
S&P 500 (^ GSPC): -6.00 (-0.13%) at 4,475.15 Dow (^ DJI): -88.56 (-0.26%) at 34,407.95 Nasdaq (^ IXIC): -315.35 (-2.22%) at 13,888.82 Crude (CL = F): + $ 0.92 (+ 0.96%) at $ 97.15 per barrel Gold (GC = F): + $ 8.20 (+ 0.43%) at $ 1,91.30 per ounce 10-year Treasury (^ TNX): +2.4 bps for a yield of 2.6330%
–
8:37 a.m. ET: New unemployment claims fall sharply to their lowest level since 1968
Unemployment insurance claims fell sharply in recent weekly data to their lowest level since 1968 and represented for the third consecutive week that new claims were below 200,000, with new layoffs and redundancies remaining low compared to averages before the pandemic. The latest Labor Department report showed that 166,000 applications were submitted in the week ended April 2, better than the 200,000 economists surveyed by Bloomberg expected. Last week’s new requirements were also revised significantly down to 171,000, from the 202,000 previously reported for the end of March. Prior to the pandemic, new applications averaged about 218,000 per week during 2019. “The job market seems to be overcoming the pandemic, rapidly approaching a full recovery,” Rubeela Farooqi, chief US economist at High Frequency Economics, wrote in a note. “Although the labor market is tight, suggesting optimism about economic conditions, a four-decade high in prices has dampened expectations.” Some of the instability in the latest weekly unemployment claims data probably reflects a change in the way the Department of Labor has adjusted the data to take seasonal factors into account. Starting with Thursday’s report, the Department of Labor returned to the use of “multiplier” seasonal adjustment factors for the data, while during the pandemic, the agency used “additional” seasonal adjustment factors to help smooth out large data shifts. –
7:40 a.m. ET: HP stock jumps after Buffett’s 11% stake unveiled
Warren Buffet’s Berkshire Hathaway in a new deposit late Wednesday revealed that the company had amassed 121 million shares of HP – an 11.4% stake worth $ 4.2 billion. Shares of HP (HPQ) rose more than 13% in preliminary trading ahead of Thursday’s opening campaign. “Berkshire Hathaway is one of the most respected investors in the world and we welcome them as investors in HP Inc.,” an HP spokesman told Yahoo Finance via email. The market is the latest in a spree of recent Berkshire Hathaway shopping spree. Buffet’s company also acquired nearly 15% ($ 7.6 billion) in Occidental Petroleum (OXY) last month. –
7:10 a.m. ET: Contracts for S&P 500, Dow and Nasdaq increase after sell-off
See how US stock futures traded ahead of Thursday’s open:
S&P 500 Futures (ES = F): +9.25 points (+ 0.21%) at 4,485.00 Dow futures (YM = F): +15.00 points (+ 0.04%) at 34,414.00 Nasdaq Futures (NQ = F): +53.50 points (+ 0.37%) at 14,558.75 Crude (CL = F): + $ 1.49 (+ 1.55%) at $ 97.72 a barrel Gold (GC = F): + $ 6.70 (+ 0.35%) to $ 1,929.80 per ounce 10 years Public (^ TNX): +0.00 bps for a yield of 2.6090%
–
6:13 p.m. ET Wednesday: Futures are slowly coming to an end after a two-day losing streak
This is where the markets were traded ahead of Wednesday’s overnight meeting:
S&P 500 Futures (ES = F): -3.00 points (-0.07%) at 4,472.75 Dow futures (YM = F): -29.00 points (-0.08%) at 34,370.00 Nasdaq Futures (NQ = F): -1.00 points (-0.01%) at 14,504.25 Crude (CL = F): + $ 1.52 (+ 1.58%) at $ 97.75 per barrel Gold (GC = F): + $ 5.00 (+ 0.26%) at $ 1,928.10 per ounce 10-year Treasury (^ TNX): +5.3 bps for a yield of 2.6090%
Traders work on the New York Stock Exchange (NYSE) in New York, USA, April 4, 2022. REUTERS / Brendan McDermid – Alexandra Semenova is a reporter for Yahoo Finance. Follow her on Twitter @alexandraandnyc Read the latest financial and business news from Yahoo Finance Follow Yahoo Finance on Twitter, Instagram, YouTube, Facebook, Flipboard and LinkedIn
title: “Stocks Edge Lower Following Back To Back Sell Off " ShowToc: true date: “2022-10-29” author: “Howard Stepp”
The S&P 500 was down about 0.2%, while the Dow Jones Industrial Average was down 150 points. The Nasdaq Composite fell 0.3%. The tech index, which started the week with a 2% rise, closed its second consecutive session on Wednesday, closing 2.2% lower. Meanwhile, the 10-year bond yield climbed again to yield 2.637% – the highest level in three years. The talks, analyzed in the minutes of the Fed meeting on March 15-16, published on Wednesday, indicate that policymakers will soon begin to unravel the central bank’s balance sheet of $ 9 trillion, including $ 4 trillion. to calm markets after the pandemic hit in early 2020. Minutes also say Many participants in the Federal Open Market Committee (FOMC) “would prefer a 50 basis point increase” in benchmark interest rates in March, when the Fed raised interest rates for the first time since 2018. “When these minutes really came out this afternoon, I think what you really saw was the stabilization around the news that the Fed has a big intention to fight inflation,” the Bank of America senior vice president told Yahoo Finance Live. Lisa Erickson. Economists at Bank of America, which recently revised its call from the Fed to include interest rate hikes by 50 basis points in June and July, said in a note Wednesday that recent minutes show enough evidence to lead the scales to double increase in May. “The reality is that we are in uncharted waters here and the Fed has a difficult task to loosen huge monetary support over the last two years,” Allianz Investment Management’s senior investment strategist Charlie Ripley said in a note. “In this context, it is very understandable that the uncertainty in the course of monetary policy will remain integrated into the markets and this is exactly what we have seen with the recent movements in interest rates and risk assets.” The story goes on Other opposite problems that investors must continue are the developments in the Russia-Ukraine war. The United States imposed another round of sanctions on Wednesday, including a ban on US investment in Russia. The sanctions also targeted Russia’s Sberbank and Alfabank, two of the country’s largest financial institutions, as well as the two adult daughters of President Vladimir Putin, the wife and daughter of Russian Foreign Minister Sergei Lavrov and senior members of Russia’s Security Council. However, the last punitive measures lacked energy transactions. Meanwhile, testifying before the House Finance Committee on Wednesday, US Treasury Secretary Janet Yellen warned that Russia’s war in Ukraine would have “huge economic consequences around the world,” including disruptions to food and energy. Helen also said that Russia should be expelled from the G20 economic forum and that the United States would boycott “certain G20 meetings” if Russian officials were to attend. –
9:30 a.m. ET: Shares fall for a third straight day as investors weigh the Fed’s minutes
Here are the main moves in the markets during Thursday’s launch campaign:
S&P 500 (^ GSPC): -6.00 (-0.13%) at 4,475.15 Dow (^ DJI): -88.56 (-0.26%) at 34,407.95 Nasdaq (^ IXIC): -315.35 (-2.22%) at 13,888.82 Crude (CL = F): + $ 0.92 (+ 0.96%) at $ 97.15 per barrel Gold (GC = F): + $ 8.20 (+ 0.43%) at $ 1,91.30 per ounce 10-year Treasury (^ TNX): +2.4 bps for a yield of 2.6330%
–
8:37 a.m. ET: New unemployment claims fall sharply to their lowest level since 1968
Unemployment insurance claims fell sharply in recent weekly data to their lowest level since 1968 and represented for the third consecutive week that new claims were below 200,000, with new layoffs and redundancies remaining low compared to averages before the pandemic. The latest Labor Department report showed that 166,000 applications were submitted in the week ended April 2, better than the 200,000 economists surveyed by Bloomberg expected. Last week’s new requirements were also revised significantly down to 171,000, from the 202,000 previously reported for the end of March. Prior to the pandemic, new applications averaged about 218,000 per week during 2019. “The job market seems to be overcoming the pandemic, rapidly approaching a full recovery,” Rubeela Farooqi, chief US economist at High Frequency Economics, wrote in a note. “Although the labor market is tight, suggesting optimism about economic conditions, a four-decade high in prices has dampened expectations.” Some of the instability in the latest weekly unemployment claims data probably reflects a change in the way the Department of Labor has adjusted the data to take seasonal factors into account. Starting with Thursday’s report, the Department of Labor returned to the use of “multiplier” seasonal adjustment factors for the data, while during the pandemic, the agency used “additional” seasonal adjustment factors to help smooth out large data shifts. –
7:40 a.m. ET: HP stock jumps after Buffett’s 11% stake unveiled
Warren Buffet’s Berkshire Hathaway in a new deposit late Wednesday revealed that the company had amassed 121 million shares of HP – an 11.4% stake worth $ 4.2 billion. Shares of HP (HPQ) rose more than 13% in preliminary trading ahead of Thursday’s opening campaign. “Berkshire Hathaway is one of the most respected investors in the world and we welcome them as investors in HP Inc.,” an HP spokesman told Yahoo Finance via email. The market is the latest in a spree of recent Berkshire Hathaway shopping spree. Buffet’s company also acquired nearly 15% ($ 7.6 billion) in Occidental Petroleum (OXY) last month. –
7:10 a.m. ET: Contracts for S&P 500, Dow and Nasdaq increase after sell-off
See how US stock futures traded ahead of Thursday’s open:
S&P 500 Futures (ES = F): +9.25 points (+ 0.21%) at 4,485.00 Dow futures (YM = F): +15.00 points (+ 0.04%) at 34,414.00 Nasdaq Futures (NQ = F): +53.50 points (+ 0.37%) at 14,558.75 Crude (CL = F): + $ 1.49 (+ 1.55%) at $ 97.72 a barrel Gold (GC = F): + $ 6.70 (+ 0.35%) to $ 1,929.80 per ounce 10 years Public (^ TNX): +0.00 bps for a yield of 2.6090%
–
6:13 p.m. ET Wednesday: Futures are slowly coming to an end after a two-day losing streak
This is where the markets were traded ahead of Wednesday’s overnight meeting:
S&P 500 Futures (ES = F): -3.00 points (-0.07%) at 4,472.75 Dow futures (YM = F): -29.00 points (-0.08%) at 34,370.00 Nasdaq Futures (NQ = F): -1.00 points (-0.01%) at 14,504.25 Crude (CL = F): + $ 1.52 (+ 1.58%) at $ 97.75 per barrel Gold (GC = F): + $ 5.00 (+ 0.26%) at $ 1,928.10 per ounce 10-year Treasury (^ TNX): +5.3 bps for a yield of 2.6090%
Traders work on the New York Stock Exchange (NYSE) in New York, USA, April 4, 2022. REUTERS / Brendan McDermid – Alexandra Semenova is a reporter for Yahoo Finance. Follow her on Twitter @alexandraandnyc Read the latest financial and business news from Yahoo Finance Follow Yahoo Finance on Twitter, Instagram, YouTube, Facebook, Flipboard and LinkedIn
