Latest news with #AndersenCapitalManagement
The Advertiser
2 days ago
- Business
- The Advertiser
Wall Street opens mixed as US-China trade talks begin
Wall Street's main indexes are mixed as investors watch a fresh round of US-China negotiations aimed at mending a trade rift that has rattled financial markets for much of the year. Top officials from both countries have kicked off discussions at London's Lancaster House, looking to address disagreements around a preliminary trade agreement struck last month that had briefly cooled tensions between the world's largest economies. The meeting, which could run into Tuesday, comes four days after US President Donald Trump and Chinese leader Xi Jinping spoke by phone, their first direct interaction since Trump's January 20 inauguration. The leaders had, however, left key issues unresolved. "The talks will have to go on for some time before we decide whether or not there's actual progress being made. However, most investors remain hopeful that there will be some positive results," said Peter Andersen, founder at Andersen Capital Management. White House economic adviser Kevin Hassett told CNBC in an interview on Monday the US trade negotiators are seeking a handshake in London to seal an agreement struck by Trump and Xi to allow the export of China's rare earth minerals and magnets to the United States. Hopes of more trade deals between the US and its major trading partners, along with upbeat earnings and tame inflation data, helped US equities rally in May, with the S&P 500 and the tech-heavy Nasdaq notching their best monthly gains since November 2023. The S&P 500 remains a little more than 2.0 per cent below all-time highs touched in February while the Nasdaq is about 3.0 per cent below its record peaks reached in December. Major data releases this week include readings on May consumer prices and initial jobless claims. While investors widely expect the Federal Reserve to keep interest rates unchanged next week, focus will be on any signs of pick-up in inflation as Trump's tariffs risk raising price pressures. In early trading on Monday, the Dow Jones Industrial Average fell 129.75 points, or 0.30 per cent, to 42,633.12, the S&P 500 lost 0.32 points, or 0.01 per cent, to 6,000.04 and the Nasdaq Composite gained 44.81 points, or 0.23 per cent, to 19,574.76. Seven of the 11 major S&P 500 sub-sectors fell, with healthcare stocks, down 0.6 per cent, declining the most. On the flip side, information technology stocks advanced 0.6 per cent. Most megacap and growth stocks were mixed. Tesla shares edged 0.5 per cent lower after brokerage Baird downgraded the stock to "neutral". Nvidia gained 1.3 per cent. Warner Bros Discovery shares jumped 9.5 per cent, the most on the S&P 500, after the company said it would separate its studios and streaming business from its fading cable television networks. Robinhood Markets fell 7.4 per cent after S&P Dow Jones Indices left S&P 500 constituents unchanged in its latest rebalancing, following recent speculation that the online brokerage would be added to the benchmark index. Merck rose 1.1 per cent after the drug maker's oral cholesterol pill succeeded in two late-stage studies. Advancing issues outnumbered decliners by a 1.65-to-1 ratio on the NYSE and by a 1.44-to-1 ratio on the Nasdaq. The S&P 500 posted 10 new 52-week highs and one new low while the Nasdaq Composite recorded 63 new highs and 27 new lows. Wall Street's main indexes are mixed as investors watch a fresh round of US-China negotiations aimed at mending a trade rift that has rattled financial markets for much of the year. Top officials from both countries have kicked off discussions at London's Lancaster House, looking to address disagreements around a preliminary trade agreement struck last month that had briefly cooled tensions between the world's largest economies. The meeting, which could run into Tuesday, comes four days after US President Donald Trump and Chinese leader Xi Jinping spoke by phone, their first direct interaction since Trump's January 20 inauguration. The leaders had, however, left key issues unresolved. "The talks will have to go on for some time before we decide whether or not there's actual progress being made. However, most investors remain hopeful that there will be some positive results," said Peter Andersen, founder at Andersen Capital Management. White House economic adviser Kevin Hassett told CNBC in an interview on Monday the US trade negotiators are seeking a handshake in London to seal an agreement struck by Trump and Xi to allow the export of China's rare earth minerals and magnets to the United States. Hopes of more trade deals between the US and its major trading partners, along with upbeat earnings and tame inflation data, helped US equities rally in May, with the S&P 500 and the tech-heavy Nasdaq notching their best monthly gains since November 2023. The S&P 500 remains a little more than 2.0 per cent below all-time highs touched in February while the Nasdaq is about 3.0 per cent below its record peaks reached in December. Major data releases this week include readings on May consumer prices and initial jobless claims. While investors widely expect the Federal Reserve to keep interest rates unchanged next week, focus will be on any signs of pick-up in inflation as Trump's tariffs risk raising price pressures. In early trading on Monday, the Dow Jones Industrial Average fell 129.75 points, or 0.30 per cent, to 42,633.12, the S&P 500 lost 0.32 points, or 0.01 per cent, to 6,000.04 and the Nasdaq Composite gained 44.81 points, or 0.23 per cent, to 19,574.76. Seven of the 11 major S&P 500 sub-sectors fell, with healthcare stocks, down 0.6 per cent, declining the most. On the flip side, information technology stocks advanced 0.6 per cent. Most megacap and growth stocks were mixed. Tesla shares edged 0.5 per cent lower after brokerage Baird downgraded the stock to "neutral". Nvidia gained 1.3 per cent. Warner Bros Discovery shares jumped 9.5 per cent, the most on the S&P 500, after the company said it would separate its studios and streaming business from its fading cable television networks. Robinhood Markets fell 7.4 per cent after S&P Dow Jones Indices left S&P 500 constituents unchanged in its latest rebalancing, following recent speculation that the online brokerage would be added to the benchmark index. Merck rose 1.1 per cent after the drug maker's oral cholesterol pill succeeded in two late-stage studies. Advancing issues outnumbered decliners by a 1.65-to-1 ratio on the NYSE and by a 1.44-to-1 ratio on the Nasdaq. The S&P 500 posted 10 new 52-week highs and one new low while the Nasdaq Composite recorded 63 new highs and 27 new lows. Wall Street's main indexes are mixed as investors watch a fresh round of US-China negotiations aimed at mending a trade rift that has rattled financial markets for much of the year. Top officials from both countries have kicked off discussions at London's Lancaster House, looking to address disagreements around a preliminary trade agreement struck last month that had briefly cooled tensions between the world's largest economies. The meeting, which could run into Tuesday, comes four days after US President Donald Trump and Chinese leader Xi Jinping spoke by phone, their first direct interaction since Trump's January 20 inauguration. The leaders had, however, left key issues unresolved. "The talks will have to go on for some time before we decide whether or not there's actual progress being made. However, most investors remain hopeful that there will be some positive results," said Peter Andersen, founder at Andersen Capital Management. White House economic adviser Kevin Hassett told CNBC in an interview on Monday the US trade negotiators are seeking a handshake in London to seal an agreement struck by Trump and Xi to allow the export of China's rare earth minerals and magnets to the United States. Hopes of more trade deals between the US and its major trading partners, along with upbeat earnings and tame inflation data, helped US equities rally in May, with the S&P 500 and the tech-heavy Nasdaq notching their best monthly gains since November 2023. The S&P 500 remains a little more than 2.0 per cent below all-time highs touched in February while the Nasdaq is about 3.0 per cent below its record peaks reached in December. Major data releases this week include readings on May consumer prices and initial jobless claims. While investors widely expect the Federal Reserve to keep interest rates unchanged next week, focus will be on any signs of pick-up in inflation as Trump's tariffs risk raising price pressures. In early trading on Monday, the Dow Jones Industrial Average fell 129.75 points, or 0.30 per cent, to 42,633.12, the S&P 500 lost 0.32 points, or 0.01 per cent, to 6,000.04 and the Nasdaq Composite gained 44.81 points, or 0.23 per cent, to 19,574.76. Seven of the 11 major S&P 500 sub-sectors fell, with healthcare stocks, down 0.6 per cent, declining the most. On the flip side, information technology stocks advanced 0.6 per cent. Most megacap and growth stocks were mixed. Tesla shares edged 0.5 per cent lower after brokerage Baird downgraded the stock to "neutral". Nvidia gained 1.3 per cent. Warner Bros Discovery shares jumped 9.5 per cent, the most on the S&P 500, after the company said it would separate its studios and streaming business from its fading cable television networks. Robinhood Markets fell 7.4 per cent after S&P Dow Jones Indices left S&P 500 constituents unchanged in its latest rebalancing, following recent speculation that the online brokerage would be added to the benchmark index. Merck rose 1.1 per cent after the drug maker's oral cholesterol pill succeeded in two late-stage studies. Advancing issues outnumbered decliners by a 1.65-to-1 ratio on the NYSE and by a 1.44-to-1 ratio on the Nasdaq. The S&P 500 posted 10 new 52-week highs and one new low while the Nasdaq Composite recorded 63 new highs and 27 new lows. Wall Street's main indexes are mixed as investors watch a fresh round of US-China negotiations aimed at mending a trade rift that has rattled financial markets for much of the year. Top officials from both countries have kicked off discussions at London's Lancaster House, looking to address disagreements around a preliminary trade agreement struck last month that had briefly cooled tensions between the world's largest economies. The meeting, which could run into Tuesday, comes four days after US President Donald Trump and Chinese leader Xi Jinping spoke by phone, their first direct interaction since Trump's January 20 inauguration. The leaders had, however, left key issues unresolved. "The talks will have to go on for some time before we decide whether or not there's actual progress being made. However, most investors remain hopeful that there will be some positive results," said Peter Andersen, founder at Andersen Capital Management. White House economic adviser Kevin Hassett told CNBC in an interview on Monday the US trade negotiators are seeking a handshake in London to seal an agreement struck by Trump and Xi to allow the export of China's rare earth minerals and magnets to the United States. Hopes of more trade deals between the US and its major trading partners, along with upbeat earnings and tame inflation data, helped US equities rally in May, with the S&P 500 and the tech-heavy Nasdaq notching their best monthly gains since November 2023. The S&P 500 remains a little more than 2.0 per cent below all-time highs touched in February while the Nasdaq is about 3.0 per cent below its record peaks reached in December. Major data releases this week include readings on May consumer prices and initial jobless claims. While investors widely expect the Federal Reserve to keep interest rates unchanged next week, focus will be on any signs of pick-up in inflation as Trump's tariffs risk raising price pressures. In early trading on Monday, the Dow Jones Industrial Average fell 129.75 points, or 0.30 per cent, to 42,633.12, the S&P 500 lost 0.32 points, or 0.01 per cent, to 6,000.04 and the Nasdaq Composite gained 44.81 points, or 0.23 per cent, to 19,574.76. Seven of the 11 major S&P 500 sub-sectors fell, with healthcare stocks, down 0.6 per cent, declining the most. On the flip side, information technology stocks advanced 0.6 per cent. Most megacap and growth stocks were mixed. Tesla shares edged 0.5 per cent lower after brokerage Baird downgraded the stock to "neutral". Nvidia gained 1.3 per cent. Warner Bros Discovery shares jumped 9.5 per cent, the most on the S&P 500, after the company said it would separate its studios and streaming business from its fading cable television networks. Robinhood Markets fell 7.4 per cent after S&P Dow Jones Indices left S&P 500 constituents unchanged in its latest rebalancing, following recent speculation that the online brokerage would be added to the benchmark index. Merck rose 1.1 per cent after the drug maker's oral cholesterol pill succeeded in two late-stage studies. Advancing issues outnumbered decliners by a 1.65-to-1 ratio on the NYSE and by a 1.44-to-1 ratio on the Nasdaq. The S&P 500 posted 10 new 52-week highs and one new low while the Nasdaq Composite recorded 63 new highs and 27 new lows.
West Australian
2 days ago
- Business
- West Australian
Wall Street opens mixed as US-China trade talks begin
Wall Street's main indexes are mixed as investors watch a fresh round of US-China negotiations aimed at mending a trade rift that has rattled financial markets for much of the year. Top officials from both countries have kicked off discussions at London's Lancaster House, looking to address disagreements around a preliminary trade agreement struck last month that had briefly cooled tensions between the world's largest economies. The meeting, which could run into Tuesday, comes four days after US President Donald Trump and Chinese leader Xi Jinping spoke by phone, their first direct interaction since Trump's January 20 inauguration. The leaders had, however, left key issues unresolved. "The talks will have to go on for some time before we decide whether or not there's actual progress being made. However, most investors remain hopeful that there will be some positive results," said Peter Andersen, founder at Andersen Capital Management. White House economic adviser Kevin Hassett told CNBC in an interview on Monday the US trade negotiators are seeking a handshake in London to seal an agreement struck by Trump and Xi to allow the export of China's rare earth minerals and magnets to the United States. Hopes of more trade deals between the US and its major trading partners, along with upbeat earnings and tame inflation data, helped US equities rally in May, with the S&P 500 and the tech-heavy Nasdaq notching their best monthly gains since November 2023. The S&P 500 remains a little more than 2.0 per cent below all-time highs touched in February while the Nasdaq is about 3.0 per cent below its record peaks reached in December. Major data releases this week include readings on May consumer prices and initial jobless claims. While investors widely expect the Federal Reserve to keep interest rates unchanged next week, focus will be on any signs of pick-up in inflation as Trump's tariffs risk raising price pressures. In early trading on Monday, the Dow Jones Industrial Average fell 129.75 points, or 0.30 per cent, to 42,633.12, the S&P 500 lost 0.32 points, or 0.01 per cent, to 6,000.04 and the Nasdaq Composite gained 44.81 points, or 0.23 per cent, to 19,574.76. Seven of the 11 major S&P 500 sub-sectors fell, with healthcare stocks, down 0.6 per cent, declining the most. On the flip side, information technology stocks advanced 0.6 per cent. Most megacap and growth stocks were mixed. Tesla shares edged 0.5 per cent lower after brokerage Baird downgraded the stock to "neutral". Nvidia gained 1.3 per cent. Warner Bros Discovery shares jumped 9.5 per cent, the most on the S&P 500, after the company said it would separate its studios and streaming business from its fading cable television networks. Robinhood Markets fell 7.4 per cent after S&P Dow Jones Indices left S&P 500 constituents unchanged in its latest rebalancing, following recent speculation that the online brokerage would be added to the benchmark index. Merck rose 1.1 per cent after the drug maker's oral cholesterol pill succeeded in two late-stage studies. Advancing issues outnumbered decliners by a 1.65-to-1 ratio on the NYSE and by a 1.44-to-1 ratio on the Nasdaq. The S&P 500 posted 10 new 52-week highs and one new low while the Nasdaq Composite recorded 63 new highs and 27 new lows.
Perth Now
2 days ago
- Business
- Perth Now
Wall Street opens mixed as US-China trade talks begin
Wall Street's main indexes are mixed as investors watch a fresh round of US-China negotiations aimed at mending a trade rift that has rattled financial markets for much of the year. Top officials from both countries have kicked off discussions at London's Lancaster House, looking to address disagreements around a preliminary trade agreement struck last month that had briefly cooled tensions between the world's largest economies. The meeting, which could run into Tuesday, comes four days after US President Donald Trump and Chinese leader Xi Jinping spoke by phone, their first direct interaction since Trump's January 20 inauguration. The leaders had, however, left key issues unresolved. "The talks will have to go on for some time before we decide whether or not there's actual progress being made. However, most investors remain hopeful that there will be some positive results," said Peter Andersen, founder at Andersen Capital Management. White House economic adviser Kevin Hassett told CNBC in an interview on Monday the US trade negotiators are seeking a handshake in London to seal an agreement struck by Trump and Xi to allow the export of China's rare earth minerals and magnets to the United States. Hopes of more trade deals between the US and its major trading partners, along with upbeat earnings and tame inflation data, helped US equities rally in May, with the S&P 500 and the tech-heavy Nasdaq notching their best monthly gains since November 2023. The S&P 500 remains a little more than 2.0 per cent below all-time highs touched in February while the Nasdaq is about 3.0 per cent below its record peaks reached in December. Major data releases this week include readings on May consumer prices and initial jobless claims. While investors widely expect the Federal Reserve to keep interest rates unchanged next week, focus will be on any signs of pick-up in inflation as Trump's tariffs risk raising price pressures. In early trading on Monday, the Dow Jones Industrial Average fell 129.75 points, or 0.30 per cent, to 42,633.12, the S&P 500 lost 0.32 points, or 0.01 per cent, to 6,000.04 and the Nasdaq Composite gained 44.81 points, or 0.23 per cent, to 19,574.76. Seven of the 11 major S&P 500 sub-sectors fell, with healthcare stocks, down 0.6 per cent, declining the most. On the flip side, information technology stocks advanced 0.6 per cent. Most megacap and growth stocks were mixed. Tesla shares edged 0.5 per cent lower after brokerage Baird downgraded the stock to "neutral". Nvidia gained 1.3 per cent. Warner Bros Discovery shares jumped 9.5 per cent, the most on the S&P 500, after the company said it would separate its studios and streaming business from its fading cable television networks. Robinhood Markets fell 7.4 per cent after S&P Dow Jones Indices left S&P 500 constituents unchanged in its latest rebalancing, following recent speculation that the online brokerage would be added to the benchmark index. Merck rose 1.1 per cent after the drug maker's oral cholesterol pill succeeded in two late-stage studies. Advancing issues outnumbered decliners by a 1.65-to-1 ratio on the NYSE and by a 1.44-to-1 ratio on the Nasdaq. The S&P 500 posted 10 new 52-week highs and one new low while the Nasdaq Composite recorded 63 new highs and 27 new lows.
Business Recorder
2 days ago
- Business
- Business Recorder
Wall Street set to open higher as US-China trade talks begin
Wall Street's main indexes were set to open higher on Monday as investors watched a fresh round of negotiations between the United States and China aimed at mending a trade rift that has rattled financial markets for much of the year. Top officials from both countries have begun discussions at London's Lancaster House, a U.S. source said, as they look to address disagreements around a preliminary trade agreement struck last month that had briefly cooled tensions between the world's largest economies. The meetings come four days after U.S. President Donald Trump and Chinese leader Xi Jinping spoke by phone, their first direct interaction since Trump's January 20 inauguration. The leaders had, however, left key issues unresolved for future talks. 'The talks will have to go on for some time before we decide whether or not there's actual progress being made, however, most investors remain hopeful that there will be some positive results,' said Peter Andersen, founder at Andersen Capital Management. White House economic adviser Kevin Hassett told CNBC in an interview on Monday the U.S. trade negotiators are seeking a handshake in London to seal an agreement struck by Trump and Xi to allow the export of China's rare earth minerals and magnets to the United States. The benchmark S&P 500 closed above 6,000 on Friday for the first time since Feb. 21, following a better-than-expected jobs report and a rebound in Tesla's shares. Wall Street rises on jobs data optimism; Tesla rebounds Hopes of more trade deals between the U.S. and its major trading partners, along with upbeat earnings and tame inflation data, helped U.S. equities rally in May, with the S&P 500 and the tech-heavy Nasdaq notching their best monthly gains since November 2023. The S&P 500 remains a little over 2% below all-time highs touched in February, while the Nasdaq is about 3% below its record peaks reached in December. Citigroup joined major brokerages in raising its year-end target for the S&P 500, citing renewed optimism in corporate earnings resilience and the accelerating momentum of artificial intelligence-driven growth. It sees the benchmark ending the year at 6,300, compared with 5,800 forecast previously, according to a note late on Friday. Major data releases this week include readings on May consumer prices and initial jobless claims. While investors widely expect the Federal Reserve to keep interest rates unchanged next week, focus will be on any signs of pick-up in inflation as Trump's tariffs risk raising price pressures. Traders currently expect 46 basis points of rate cuts by the end of 2025 and are pricing in a 55% chance of a 25 bps cut in September, according to data compiled by LSEG. At 08:34 a.m. ET, Dow E-minis were up 46 points, or 0.11%, S&P 500 E-minis were up 9.5 points, or 0.16%, and Nasdaq 100 E-minis were up 19.25 points, or 0.09%. Most megacap and growth stocks were mixed in premarket trading. Tesla shares fell 1.7% after a report said Baird downgraded the stock to 'neutral' from 'outperform'. Robinhood Markets fell 3.3% after the S&P 500 kept index constituents unchanged in its latest rebalancing, contrary to some analysts who had expected the online brokerage to join the benchmark index. Warner Bros Discovery shares jumped 8.6% after the company said it would separate its studios and streaming business from its fading cable television networks. Shares of Sunnova Energy slumped 28.4% after the company filed for Chapter 11 bankruptcy protection.
The National
17-03-2025
- Business
- The National
Fed week arrives with high uncertainty and market volatility
US markets are poised to enter another volatile week of trading, with the Federal Reserve set to make its interest rate decision and reveal updated economic projections as President Donald Trump's tariffs continue to cloud the future of the world's largest economy. Last week's remarkable row between Mr Trump and trading partners featured a dizzying set of tariff implementations, retaliations, threats and reversals that thrust markets into further turmoil. 'Right now, nothing seems to matter except what's going on in [Washington] DC and the confusing set of tariff news that seems to be released almost several times a day,' said Peter Andersen, founder of Andersen Capital Management. The Dow Jones is down almost 3 per cent this year. The Nasdaq entered correction after falling more than 10 per cent from its recent record high. The S&P 500 briefly slid into correction territory on Thursday. In another sign of market volatility, the price of gold climbed above $3,000 for the first time on Friday. 'I think, investors don't have a grounding and they don't know what the endgame is,' Mr Andersen said. "I think, most investors are punch-drunk." Policy uncertainty has seeped into the economic outlook. And with the Fed likely to hold rates steady on Wednesday, the economic impact of tariffs will face further scrutiny. 'The key question at this [Fed] meeting is how policymakers will balance the continuing unease about the frustratingly slow pace of disinflation progress with mounting concerns over the growth outlook, the usual uncertainties about the outlook compounded by a highly unusual degree of policy uncertainty,' Derek Tang, economist at the LH Meyer firm, said in a note to clients. Fed officials have already signalled they are firmly in wait-and-see mode, meaning they are set to hold their target range for interest rates steady for a second straight time at 4.25 per cent to 4.50 per cent. 'We do not need to be in a hurry and are well positioned to wait for greater clarity,' Fed Chairman Jerome Powell said in his final public remarks before the central bank's quiet period. With a pause likely, focus will instead turn towards Mr Powell's press conference and the Fed's economic projections. The Fed updates its forecasts on GDP, interest rates, inflation and unemployment every three months. 'The sheer amount of uncertainty around trade policy and fiscal policy is just suffocating for the economy, and there's no end in sight, so the Fed is going to likely factor that into their forecasts,' said Ryan Sweet, chief US economist at Oxford Economics. Currently, Fed officials are trying to assess if the inflationary effects will be a one-time bump that they can look through. 'My baseline view is that any imposition of tariffs will only modestly increase prices and in a non-persistent manner,' Fed Governor Christopher Waller said last month. In separate remarks, New York Fed Governor John Williams anticipated that tariffs will have some inflationary effect this year. Meanwhile, Mr Powell has asserted the economy remains in a 'good place' despite the elevated uncertainty surrounding it. But as markets remain jittery over the effects of Mr Trump's tariff approach, traders will look towards the even-keeled Fed Chairman to offer guidance on the economic outlook. 'He's got to pull this off where he signals that we're keeping an eye on the economy,' Mr Sweet said. "Things are holding up so far, but at the same time, saying that we're not going to ignore the inflation risk. He's going to have to pull this one out of his hat and kind of get this one perfect, or you're going to see markets respond.'
