Latest news with #BrendanMcdermid
ABC News
13 hours ago
- Entertainment
- ABC News
Sarah Snook wins Tony award
Sarah Snook accepts the Best Performance by an Actress in a Leading Role in a Play award for "The Picture of Dorian Gray" at the the 78th Annual Tony Awards in New York City, U.S., June 8, 2025. ( REUTERS/Brendan Mcdermid )
CNBC
18-05-2025
- Business
- CNBC
Stock futures slide after U.S. debt downgrade highlights deficit risk: Live updates
Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., May 14, 2025. REUTERS/Brendan McDermid Brendan Mcdermid | Reuters Stock futures fell Sunday evening as investors responded to Moody's downgrade of the U.S.' credit rating. Futures tied to the Dow Jones Industrial Average dropped 287 points points, or 0.7%. S&P 500 futures pulled back 0.7%, while Nasdaq 100 futures lost 0.8%. Moody's on Friday bumped the country's rating down by one notch to Aa1 from Aaa, bringing the agency in line with its peers. The firm cited the financing challenges tied to the federal government's growing budget deficit and the ramifications of rolling over existing U.S. debts in a period of high borrowing costs. The debt downgrade could pressure bond prices and raise yields at a time when the economy is already under pressure from President Donald Trump's unfolding tariff policy. "The fundamental factor of less foreign demand for them and the growing size of the pile of debt that needs to be constantly refinanced is not going to change," said Peter Boockvar, chief investment officer at Bleakley Financial Group, of the U.S. rating change. Moody's downgrade "is symbolic in the sense that here's a major rating agency that's calling out that the U.S. has strained debts and deficits." The downgrade comes after a winning week on Wall Street as investors cheered the White House's deal with China to temporarily slash levies. The agreement was seen as a breakthrough for global trade after Trump's initial plan for broad and steep import taxes was unveiled last month. The technology-heavy Nasdaq Composite led the way, surging more than 7%. The broad S&P 500 jumped over 5% and posted a five-day winning streak. The blue-chip Dow rallied more than 3% last week. Friday's gain of over 300 points pushed the 30-stock average into positive territory for 2025. Investors on Monday will monitor speeches from U.S. central bank officials such as Atlanta Federal Reserve President Raphael Bostic, New York Fed President John Williams and Dallas Fed President Lorie Logan scheduled throughout the day. Leading indicators data is due in the morning. Stock futures traded in the red shortly after 6 p.m. ET. Dow futures lost 283 points, or 0.7%. S&P 500 futures fell 0.7%, while Nasdaq 100 futures slid 0.8%. — Alex Harring
CNBC
14-05-2025
- Business
- CNBC
Stock futures are little changed after S&P 500 posts third consecutive winning day: Live updates
Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., May 14, 2025. REUTERS/Brendan McDermid Brendan Mcdermid | Reuters U.S. stock index futures were little changed post-market Wednesday after the S&P 500 index strung together a third consecutive advance in reaction to the Trump administration and China hammering out a temporary suspension of their tit-for-tat tariff dispute. Futures tied to the S&P 500 were down 0.12%, while Nasdaq-100 futures lost 0.11%. Dow Jones Industrial Average futures fell just 31 points. Networking hardware maker Cisco Systems rose 2% in extended trading Wednesday after third-quarter earnings excluding one-time items came in at 96 cents per share, above analysts' estimate of 92 cents, according to FactSet. Earnings guidance for the current quarter ending in July also topped what the Street had been expecting. Confidence in the immediate outlook for stocks has strengthened in the wake of last weekend's talks between Treasury Secretary Scott Bessent and Chinese officials that appeared to stave off a short-term decline in economic activity and a ratcheting up in inflation. Nvidia and Tesla are both up more than 16% already so far this week, Meta Platforms has added 11.3% and Amazon and Alphabet more than 8% each. The Nasdaq Composite is higher by 6.8% this week, trailed by the S&P 500, ahead 4.11%, and the Dow Jones Industrial Average, up 1.9%. Sentiment was further bolstered Tuesday by the latest reading on consumer inflation showing prices rising at a slower pace than Wall Street economists had expected. Inflation increased by 0.2% in April excluding food and energy, below the consensus estimate of 0.3%. Traders will look for further signs of a steady economy on Thursday, when the producer price index, retail sales and industrial production numbers for April are released before the stock market opens. Also due out: earnings for the fiscal first-quarter from Walmart, the nation's largest retailer. Futures traded near the flatline Wednesday night. S&P 500 futures slipped 0.1%, as did Nasdaq 100 futures. Dow Jones Industrial Average futures lost 38 points, or roughly 0.1%. —Darla Mercado
Straits Times
02-05-2025
- Business
- Straits Times
World food prices increase in April, UN's FAO says
Milk is seen displayed at a Target store in Manhattan in New York City, New York, U.S., April 1, 2020. REUTERS/Brendan Mcdermid/File Photo LONDON - Global food commodity prices increased in April, driven by higher cereal, meat and dairy product prices that outweighed falls in sugar and vegetable oils, the United Nations' Food and Agriculture Organization said on Friday. The FAO Food Price Index, which tracks monthly changes in a basket of internationally traded food commodities, averaged 128.3 points in April, up 1% versus the March estimate of 127.1 points. The April reading was also 7.6% higher than the same month a year ago but 19.9% below a March 2022 peak reached following Russia's full-scale invasion of Ukraine. For cereals, FAO's price index rose 1.2% from March as wheat prices edged up due to tighter exports from Russia, rice rose on stronger demand and corn stocks tightened in the United States. "Currency fluctuations influenced price movements in world markets, while tariff policy adjustments raised market uncertainty," the FAO added. Despite the April rise, the cereal price index was 0.5% below its year earlier level. Also driving food prices higher, the FAO's meat price index rose 3.2% last month, led by pig meat prices and firm import demand for bovine meat. The dairy price index rose 2.4% in April and jumped 22.9% versus a year ago as butter prices hit record highs thanks to declining inventories in Europe. By contrast, FAO's vegetable price index fell 2.3% last month due to a sharp decline in palm oil prices, while the sugar price index dropped 3.5% on fears over the uncertain global economic outlook. In a separate cereal report, FAO kept its forecast for world wheat production unchanged at 795 million metric tons, on par with 2024 levels. The agency decreased its estimate slightly for global cereal production in 2024 to 4.848 billion tons from 2.849 billion. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
