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Wall Street indexes bounce back as investors await inflation data, Fed rate cuts​

  • Apple little changed after latest iPhone unveiling
  • Boeing jumps after reaching tentative labor deal
  • Dell, Palantir rise as stocks to be added to S&P 500
  • Indexes up: Dow 1.2%, S&P 500 1.16%, Nasdaq 1.16%
Sept 9 (Reuters) - Wall Street's three major indexes gained more than 1% on Monday as investors looked for bargains after the previous week's sell-off while they also waited for inflation reports in coming days and the Federal Reserve's next policy decision next week.

Investors had fled from equities last week when Friday's weaker-than-expected August jobs data followed weak manufacturing data on Tuesday, driving the Nasdaq Composite's (.IXIC), opens new tab biggest weekly loss since January 2022, and the S&P 500's (.SPX), opens new tab biggest weekly decline since March 2023.

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Morning Bid: Calm returns as TV debate eyed, China angst​

September 10, 2024 6:06 AM EDT

A look at the day ahead in U.S. and global markets from Mike Dolan

Markets have recovered their poise this week on a potent mix of U.S. 'soft landing' hopes and interest rate cut speculation and now turn their attention back to U.S. politics ahead of Tuesday's big TV debate.

After a week or more juggling 50-50 calls on recession ahead and the size of this month's expected Federal Reserve interest rate cut, speculation now shifts to November's election - which opinion polls and betting markets now also see as a 50-50 call.

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Record-size Container Ship Sets Course for Arctic via Norwegian Coastline

A massive container ship the length of three football fields traveled up the Norwegian coastline en route to China over the weekend. It is the latest sign of increasing Arctic traffic passing through the Norwegian and Barents Seas, including sanctioned and possibly underinsured “shadow fleet”...
www.highnorthnews.com
 

Farm income estimates pinch growers | Weekly Commodity Market Update​

Sep 10, 2024 #agriculture #news #markets

This week Will and Ben discuss what farm income estimates mean for growers.

12:43

Chapters:
0:00 Introduction
1:10 Market recap
3:30 Strong private yield estimates
5:49 Estimated farm income
8:38 Soybean crush numbers and ethanol production
10:31 Reports to watch
 

Stocks falter, dollar defensive after US presidential debate​

SINGAPORE, Sept 11 (Reuters) - Asian markets wobbled and U.S. stock futures slipped on Wednesday after Democratic Vice President Kamala Harris and Republican Donald Trumpclashed in a keenly-awaited U.S. presidential debate.

The presidential hopefuls battled over abortion, the economy, immigration and Trump's legal woes at their combative first debate.

That left investors skittish in Asian trade as markets also geared up for U.S. inflation data that could influence the Federal Reserve's policy moves next week.

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Morning Bid: A swift change to inflation-watch​

LONDON, Sept 11 (Reuters) - A look at the day ahead in U.S. and global markets by Dhara Ranasinghe.

As a combative U.S. presidential debate grabs attention, upcoming U.S. inflation numbers have fallen into the background -- but perhaps only temporarily.

After all, the August consumer price inflation report released later on Wednesday is the last big data release before a much anticipated Sept. 18 Federal Reserve rate decision.

And given that markets still attach a roughly 35% chance to an aggressive 50 basis points cut next week (a 25 bps move is fully priced in), the latest numbers have the scope to move traders' rate bets and therefore broader markets.

Economists polled by Reuters forecast a 0.2% month-on-month rise in both the headline and core consumer price index, with the headline annual measure expected to fall to 2.6% in August from 2.9% in July.

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Scrap Metal Market Update: Flat Prices & Bleak Outlook for Steel & Copper​

Check Scrap Prices: https://iScrapApp.com/ - In this week's scrap metal market update, we're diving into the latest trends and pricing across various metals, including copper, steel, aluminum, and catalytic converters. Unfortunately, the market remains sluggish, with little movement in copper prices and a continued downturn in ferrous metals like steel and stainless steel. However, there are some bright spots, including aluminum's stability and rising demand for carbide. We also explore the potential impact of U.S. interest rate cuts on the scrap industry.
Read more: https://iscrapapp.com/blog/weekly-scr...

19:59

Copper & steel prices: Why they're stuck in a slump
Potential for interest rate cuts and their impact on the market
Aluminum, gold, and carbide: The surprising strength in a weak market
 

Why All Eyes Are On Arkansas’ Lithium​

Sep 11, 2024 #CNBC #Lithium

Arkansas is emerging as a key player in U.S. lithium production, with major investments from companies like Exxon Mobil, Albemarle and Standard Lithium. The state’s lithium-rich brine in the Smackover Formation holds the potential to power millions of EVs and reshape energy storage. But, challenges like volatile lithium prices and unproven direct lithium extraction (DLE) technology could impact its growth. CNBC visited Magnolia and El Dorado, Arkansas to explore why the state is emerging as a key player in the lithium market and to examine the economic, technological, and strategic impacts of its extraction initiatives.

12:31

Chapters:
02:32 Title card - Why all eyes are on Arkansas’ lithium
02:39 Chapter 1 - Lithium in Arkansas
06:20 Chapter 2 - Direct Lithium Extraction
09:04 Chapter 3 - Challenges
 

CNBC Daily Open: Moving past sticky core inflation​

What you need to know today​

Stubborn core inflation
Prices in the U.S. rose 0.2% in August, the Bureau of Labor Statistics reported, in line with the Dow Jones consensus. The 12-month inflation rate was at 2.5%, the lowest since February 2021. However, core CPI, which excludes food and energy prices, ticked up 0.3%, 10 basis points higher than expected.

Rebound rally
Major U.S. indexes closed higher in a choppy session on Wednesday, lifted by technology stocks. Asia-Pacific markets were trading higher on Thursday. Japan’s Nikkei 225 jumped 3.43% and the Taiwan Weighted Index rose 3%. Chip-related Asian stocks including Tokyo Electron, Advantest and TSMC rose, tracking the rally in U.S. technology stocks.

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Morning Bid: The first cut isn't always the deepest​

September 12, 20246:01 AM EDT

A look at the day ahead in U.S. and global markets by Amanda Cooper.

The first cut might be the deepest in some cases, but in the case of the Federal Reserve, it would seem not. Wednesday's monthly inflation report showed a surprise tick up in core inflation that was enough to knock expectations for a jumbo half-point cut from the Fed next week on the head.

The data showed the core consumer price index rose 0.3% in August from September, compared with forecasts for an increase of 0.2%, and was up 3.2% on an annual basis, in line with economists' predictions.

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Leading olive oil producer Spain turns to olive stones for fuel​

  • Spaniards use olive stones as biomass in homes and industry
  • Farmers are moving to maximise crop value by refining pits
  • Price swings have affected demand in recent years
MADRID, Sept 12 (Reuters) - Farmer David Jimenez Zamora barely flinched when gas and electricity prices in Spain soared with the energy crisis.
He kept heating the covered pool in the 18th century farmhouse he rents to tourists and the hot water running for as many as 26 guests at once without getting the terrifying energy bills hammering fellow Spaniards.

His secret? Olive stones.

"We use olive pits from our trees to heat the swimming pool, the underfloor heating system and get hot water," said the 48-year-old.

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Stock futures are little changed after S&P 500 notches fourth-straight winning session: Live updates​

U.S. stock futures were little changed on Thursday evening as traders sought to shake off a sluggish September.

S&P 500 futures inched lower by 0.07%. Futures tied to the Dow Jones Industrial Average hovered near the flatline, and Nasdaq 100 futures slipped 0.13%.

During Thursday’s regular trading, investors snapped up shares of big tech names, including Nvidia, lifting the S&P 500 and the Nasdaq Composite for a fourth consecutive day. The broad market index is now down 0.9% in September. The 30-stock Dow advanced about 0.6% on Thursday, bolstered by Salesforce and Microsoft.

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China strengthens grip on global shipbuilding - Splash247

Broker BRS has provided an update on one of the main shipping themes of 2024 – China’s strengthening grip on the world’s shipbuilding output. Splash has been reporting regularly on how Chinese yards are being expanded or reactivated as the nation takes on a record-long orderbook stretching deep...
splash247.com

Condemnation rains in over Russian strike on Greek bulker in the Black Sea - Splash247

There has been widespread international condemnation of a Russian missile strike on a Greek-operated bulk carrier off Romania this week, although security analysts are unsure whether this was a hit specifically aiming at a merchant ship or a misguided strike as part of a wider campaign against...
splash247.com

US east coast in focus as box spot rates nosedive - Splash247

October 1 looks increasingly like the date that will decide Q4 liner fortunes with the incredibly volatile spot markets in free-fall at present, and seemingly only a big American dockworker strike as the sole major event on the horizon to soak up tonnage and halt the slide. Having lost 8% the...
splash247.com
 

Morning Bid: A golden Fed cut​

Sept 13 (Reuters) - A look at the day ahead in U.S. and global markets by Amanda Cooper.

What a difference a day makes. Just 24 hours ago, investors were coming to terms with the idea that a half-point rate cut next week from the Federal Reserve was unlikely and a quarter-point drop was much more in line with a soft-landing scenario.

A couple of articles by closely followed Fed correspondents in the Financial Times and the Wall Street Journal overnight, along with comments from influential former Fed official Bill Dudley, have been enough to flip those assumptions on their head. It's now pretty much 50/50 as to whether the Fed goes 25 basis points or 50 on Sept. 18.

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Working Waterfront: A Harbor Portrait | Full Documentary​

Sep 12, 2024 #port #ship #boat

If you ever wanted to climb up a gangway, take a wheel in the pilot house or crawl around the engine room, this is your chance! Working Waterfront: A Harbor Portrait is an insider’s look at the Duluth-Superior port. The personal perspective of those directly involved in port operations – ship captains, deck hands, ship agents and larger than life port activities.

1:15:27
 

Wall Street advances as traders' bets rise for bigger Fed rate cut​

Sept 13 (Reuters) - Wall Street's main indexes closed higher on Friday as investors honed in on the chance of a bigger interest rate cut by the Federal Reserve next week, with rate-sensitive small cap stocks outperforming.

Bets on the size of the Fed's cut have been volatile and were roughly even by late Friday. Expectations for a 50 basis point cut jumped to 49% from 28% on Thursday, CME's FedWatch Tool, opens new tab showed, compared with a 51% probability for a 25 basis point cut.

Former New York Fed President Bill Dudley said late Thursday there was a strong case for a 50-bps interest rate cut.

Reports in the Wall Street Journal, opens new tab and other media had said early Thursday the Fed faces a difficult decision on how much to ease on Sept. 18.

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Closing Markets 9-13-24 | Did the September WASDE Help Confirm Seasonal Lows in the Grain Markets?​

Alan Brugler, A & N Economics, LLC. says corn and wheat ended higher for a third week, while soybeans have put in four weeks of higher closes. To him, that justifies bottoming action.

11:06
 

Feeder cattle futures up $8 this week | Weekly Livestock Market Update​

Sep 13, 2024

In this livestock market update video, Brownfield's Meghan Grebner and agriculture economist Scott Brown talk about Retail Prices, Supply and Demand numbers, Consumer Sentiment, and more.

19:49

Chapters:
0:00 Introduction
0:18 This week in the markets
1:58 Weekly Slaughter
3:15 Retail Prices
11:52 WASDE
16:25 Consumer Sentiment
18:00 Next week's reports
 

Take Five: Fed, ready, steady, cut​

LONDON, Sept 16 (Reuters) - Don't go anywhere: an event-packed week is coming up with central banks from the United States to Brazil and from Europe to Japan meeting.
The Federal Reserve should deliver its first interest rate cut in four years, Brazil could hike for the first time since 2022 and Japan will be mindful of volatile markets as it mulls when to lift rates again.
But it is not all about central banks, with UniCredit's move on Commerzbank reviving M&A talk among European banks.
Here's your week ahead primer in world markets from Lewis Krauskopf in New York, Rae Wee in Singapore, Marcela Ayres in Brasilia, and Naomi Rovnick, Karin Strohecker, and Tommy Wilkes in London.

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Morning Bid: Fed hits easing week, China economy weak​

September 16, 2024 6:05 AM EDT

A look at the day ahead in U.S. and global markets from Mike Dolan
After an extraordinary 30-month monetary squeeze designed to zap a post-pandemic inflation spike, the Federal Reserve is finally set to cut interest rates this week - and it's now only a matter of how much.
With another set of weak industrial and retail readings from China on Saturday and the FBI on Sunday pursuing a second failed assassination attempt on Republican presidential candidate Donald Trump, the news backdrop to this long-awaited Fed easing week is agitated to say the least.
But investors are staying focussed for now on growing speculation the first Fed cut on Wednesday will be 50 basis points rather than 25 bps - not least as some see last week's press reports as a possible steer even as Fed officials remain in their traditional pre-meeting quiet period.
World markets were relatively calm first thing on Monday, largely because Japanese and mainland Chinese centres were closed for holidays.

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Exclusive: Ghana lost 160,000 tons of cocoa to smuggling in 2023/24 season, Cocobod official says​

  • More than a third of Ghana's cocoa output lost to smuggling
  • Ghana's 2023/24 output set to be lowest in 20 years
  • Military to join anti-smuggling task force
ACCRA, Sept 16 (Reuters) - Ghana has lost more than a third of its 2023/24 cocoa output to smuggling, a top official from the cocoa marketing board (Cocobod) told Reuters, as low local prices and payment delays push some farmers to sell to increasingly sophisticated trafficking rings.
Poor harvests in Ghana and Ivory Coast, the world's second largest and largest producers, have pushed markets into a four-year supply deficit, driving up global cocoa and chocolate prices this year.

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The Commodities Feed: Chinese oil demand falls

Chinese data continues to point towards weaker domestic oil demand. Despite this, oil prices are trading stronger this morning
think.ing.com

Asia Morning Bites

Asian markets are buoyed by the prospects of larger than previously expected Fed cuts this week. Though Chinese data over the weekend was again soft
think.ing.com

FX Daily: Markets starting to favour front-loaded Fed rate cuts

The dollar is on the soft side again, and we think that'll continue this week
think.ing.com
 
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