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Lower Futures Point To Weak Opening On Wall Street; Fed Policy Eyed

RTTNews | Pred 503 dňami

Lower Futures Point To Weak Opening On Wall Street; Fed Policy Eyed

(RTTNews) - Although lower futures currently point to a weak start for U.S. stocks Wednesday morning, the mood may change positive if some of the data due ahead of the opening bell turn out to be a bit encouraging. However, the focus today is on the Federal Reserve's monetary policy announcement, due later in the day.

The central bank is widely expected to leave interest rate unchanged. The accompanying statement and Fed Chair Jerome Powell's post meeting press conference for clues about future interest rate moves.

Data on manufacturing activity for the month of April, construction spending, private sector employment and U.S. job openings are all due this morning.

In earnings news, Amazon Inc. announced after trading hours on Tuesday that it posted a net income of $10.4 billion in the first quarter of this year, up three times its earnings a year ago. First-quarter sales increased 13% to $143.3 billion, the company said.

Pfizer Inc. repofted first-quarter earnings of $3.12 billion, or $0.55 per share, compared with $5.54 billion, or $0.97 per share, in last year's first quarter. For fiscal 2024, the company projects adjusted earnings in a range of $2.15 to $2.35 per share, up from the prior guidance range of $2.05 and $2.25 per share.

Advanced Micro Devices Inc. reported first-quarter earnings of $123 million, compared with a loss of $139 million in the year-ago quarter.

Stock prices went down south on Wall Street on Tuesday, sliding lower and lower after a weak start, as concerns about inflation and uncertainty about the Fed's interest rate moves rendered the mood bearish.

Investors digested a mixed batch of earnings updates, and some disappointing economic data.

The major averages all ended sharply lower, with the Nasdaq suffering a more pronounced loss. The Dow ended down by 570.17 points or 1.49 percent at 37,815.92. The S&P 500 dropped 80.48 points or 1.57 percent to 5,035.69, while the Nasdaq tumbled 325.26 points or 2.04 percent to settle at 15,657.82.

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U.S. Retail Sales Climb 0.6% In August, Much More Than Expected

U.S. Retail Sales Climb 0.6% In August, Much More Than Expected

The Commerce Department released a report on Tuesday showing retail sales in the U.S. rose by much more than expected in the month of August. The report said retail sales climbed by 0.6 percent in August, matching an upwardly revised increase in July. Economists had expected retail sales to inch up by 0.2 percent compared to the 0.5 percent growth originally reported for the previous month.

RTTNews | Pred 25 minútami

U.S. Industrial Production Unexpectedly Inches Up 0.1% In August

U.S. Industrial Production Unexpectedly Inches Up 0.1% In August

Industrial production in the U.S. unexpectedly edged slightly higher in the month of August, according to a report released by the Federal Reserve on Tuesday.

RTTNews | Pred 1 h 52 min

Eurozone Industrial Production Recovers In July

Eurozone Industrial Production Recovers In July

Eurozone industrial production recovered at a moderate pace in July due to the rebound in consumer and capital goods output despite tariff threats, official data showed Tuesday. Industrial production registered a monthly growth of 0.3 percent, in contrast to the 0.6 percent decrease in June, Eurostat reported. However, the rate was slightly weaker than the forecast of 0.4 percent.

RTTNews | Pred 2 h 18 min

U.S. Import Prices Unexpectedly Rise 0.3% In August

U.S. Import Prices Unexpectedly Rise 0.3% In August

A report released by the Labor Department on Tuesday showed import prices in the U.S. unexpectedly increased in the month of August.

RTTNews | Pred 2 h 34 min

U.S. Retail Sales Climb Much More Than Expected In August

U.S. Retail Sales Climb Much More Than Expected In August

The Commerce Department released a report on Tuesday showing retail sales in the U.S. rose by much more than expected in the month of August.

RTTNews | Pred 2 h 37 min

Bay Street Likely To Open On Mixed Note; Canadian Inflation Data In Focus

Bay Street Likely To Open On Mixed Note; Canadian Inflation Data In Focus

Canadian shares may open on a mixed note Tuesday morning, with the focus on upcoming interest rate decision from the Bank of Canada and the Federal Reserve. Materials stocks are likely to move up on higher metal prices.

RTTNews | Pred 2 h 49 min

FTSE 100 Drifts Lower For 3rd Straight Session

FTSE 100 Drifts Lower For 3rd Straight Session

U.K. stocks are exhibiting weakness on Tuesday, losing ground for a third straight session, as investors react to the nation's jobs data, and await the Bank of England's monetary policy announcement due later in the week.

RTTNews | Pred 3 h 20 min

CAC 40 Down Marginally In Lackluster Trade

CAC 40 Down Marginally In Lackluster Trade

The French market is down marginally on Tuesday with stocks moving in a tight band ahead of the Federal Reserve's monetary policy meeting. The Fed is widely expected to cut interest rates by 25 basis points on Wednesday.

RTTNews | Pred 3 h 45 min

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