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Yahoo
03-06-2025
- Business
- Yahoo
Markets Close in Green on Mostly Quiet Trading Day
Monday, June 2, 2025Markets closed flat-to-up on this first trading day of the last month of calendar Q2. The Dow, which had collapsed -416 points at session lows, finished +35 points, +0.08%. The S&P 500 rose +24 points, +0.41%, while the Nasdaq outperformed the field: +128 points, +0.67%. The small-cap Russell 2000 rose +0.19% on the recent trade tensions — specifically, the raised tariff on steel and aluminum to +50% announced by President Trump late Friday — were a renewed interest in the AI trade once again supported tech stocks, while oil companies caught a bid on $63 barrels of oil today. All in all, it was a quiet day for data, relatively: Jobs Week reports begin with the JOLTS numbers out Tuesday morning. For the month of May, S&P final Manufacturing PMI and ISM Manufacturing reports showed a slight decline on the former and an in-line print on the latter. The S&P headline of 52.0 was 30 basis points (bps) below estimates, which were flat month over month. ISM came in at +48.5% — as expected and down 20 bps from the April headline, but still below the 50 threshold between growth and loss. Analysts had been expecting a rebound into positive Construction Spending for April, but at -0.4% this headline came 60 bps below estimates to +0.2%. This followed -0.8% print for March, which was the lowest we've seen since September of last year. It also marks the thirds negative month in the first four for 2025. The April totals of the Job Openings and Labor Turnover Survey (JOLTS) hit the tape Tuesday morning. They are expected to tick down month over month to 7.1 million from 7.2 million reported, and are the first in a series of labor force data this week, which we call Jobs Orders, also for April, will be out tomorrow as well, after the opening bell. Much like the downturn in Construction Spending we saw today for April, Factory Orders are expected to dip into negative territory, likely based on questions and concerns related to the trade war. Orders are forecast to reach -3.3% for the month from +4.3% reported for while we basically consider calendar Q1 earnings season completed, we still have a few companies of consequence reporting this week. Among them, Dollar General DG, up +28% year to date, is expected to deliver negative -10.9% earnings per share on +3.76% in revenue growth. That will be before the opening bell Tuesday. After the market closes, cybersecurity major CrowdStrike CRWD is projected to bring negative -29% earnings per share growth on +20% in revenues. This company has never missed an earnings estimate since its 2019 or comments about this article and/or author? Click here>> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Dollar General Corporation (DG) : Free Stock Analysis Report CrowdStrike (CRWD) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
03-06-2025
- Business
- Yahoo
Markets Close in Green on Mostly Quiet Trading Day
Monday, June 2, 2025Markets closed flat-to-up on this first trading day of the last month of calendar Q2. The Dow, which had collapsed -416 points at session lows, finished +35 points, +0.08%. The S&P 500 rose +24 points, +0.41%, while the Nasdaq outperformed the field: +128 points, +0.67%. The small-cap Russell 2000 rose +0.19% on the recent trade tensions — specifically, the raised tariff on steel and aluminum to +50% announced by President Trump late Friday — were a renewed interest in the AI trade once again supported tech stocks, while oil companies caught a bid on $63 barrels of oil today. All in all, it was a quiet day for data, relatively: Jobs Week reports begin with the JOLTS numbers out Tuesday morning. For the month of May, S&P final Manufacturing PMI and ISM Manufacturing reports showed a slight decline on the former and an in-line print on the latter. The S&P headline of 52.0 was 30 basis points (bps) below estimates, which were flat month over month. ISM came in at +48.5% — as expected and down 20 bps from the April headline, but still below the 50 threshold between growth and loss. Analysts had been expecting a rebound into positive Construction Spending for April, but at -0.4% this headline came 60 bps below estimates to +0.2%. This followed -0.8% print for March, which was the lowest we've seen since September of last year. It also marks the thirds negative month in the first four for 2025. The April totals of the Job Openings and Labor Turnover Survey (JOLTS) hit the tape Tuesday morning. They are expected to tick down month over month to 7.1 million from 7.2 million reported, and are the first in a series of labor force data this week, which we call Jobs Orders, also for April, will be out tomorrow as well, after the opening bell. Much like the downturn in Construction Spending we saw today for April, Factory Orders are expected to dip into negative territory, likely based on questions and concerns related to the trade war. Orders are forecast to reach -3.3% for the month from +4.3% reported for while we basically consider calendar Q1 earnings season completed, we still have a few companies of consequence reporting this week. Among them, Dollar General DG, up +28% year to date, is expected to deliver negative -10.9% earnings per share on +3.76% in revenue growth. That will be before the opening bell Tuesday. After the market closes, cybersecurity major CrowdStrike CRWD is projected to bring negative -29% earnings per share growth on +20% in revenues. This company has never missed an earnings estimate since its 2019 or comments about this article and/or author? Click here>> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Dollar General Corporation (DG) : Free Stock Analysis Report CrowdStrike (CRWD) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Sign in to access your portfolio
Business Recorder
02-06-2025
- Business
- Business Recorder
Financial markets likely to be influenced by ongoing geopolitical issues
The Federal Reserve's preferred measure, the US April core Personal Consumption Expenditure (PCE) price index, nudged down to 2.5 percent year over year from the previous 2.6 percent, indicating a continuation of the trend toward decelerating inflation. However, concerns about a potential resurgence of inflation driven by global trade tensions complicate matters. The futures market for the Fed's funds shows a 95 percent likelihood that the Fed will maintain its policy rate in June, alongside more than 70 percent probability of keeping the rate steady in July. In addition, the US continues to point fingers at compliance issues with China, claiming that the nation is breaching its trade agreement, as noted by its trade representative via social media. Previously, the US Treasury Secretary remarked that trade talks with China were 'a bit stalled.' Nonetheless, there are still indications of a potential high-level meeting between representatives from both nations. Earlier last week, a US Federal Court overturned Trump's 'Libertarian Day,' which shook up the markets, but an appellate court later reinstated his request to reestablish tariffs. During this time, financial markets experienced significant volatility amid uncertain conditions. The global trade situation remains a persistent issue that is likely to resurface intermittently. The trade friction between the US and the European Union (EU) is merely postponed until the new deadline of July 9. This unresolved dispute continues to be open for negotiation, with the onus on the EU to propose a deal, as the US president has made it clear that he intends to impose a tariff. Nevertheless, the potential for an escalation in the trade tariff dispute between the US and China remains. Some analysts still insist that tensions are intensifying. Media reports indicating that the US is thinking about broader technology sanctions against China and a potential crackdown are concerning developments. Meanwhile, on the economic front, although the consumer prices appear stable, inflation expectations remain elevated. Traders will be paying close attention to the employment report scheduled for release on Friday, as investors will be on the lookout for any indications of a cooling labor market, which could influence the direction of future interest rates. Additionally, other economic data to be released this week includes the ISM Manufacturing index, US JOLTS job openings, US ADP employment figures, ISM services data, and US weekly jobless claims. On Wednesday, the Bank of Canada (BoC) will be making its monetary policy announcement. The European Central Bank (ECB) will follow on Thursday with its own policy statement. The BoC will issue a monetary policy statement without a follow-up press conference. Minutes from the previous meeting indicated a division among members regarding whether to maintain the current rate or implement a cut. This suggests that while inflation remains manageable this year, the BoC may consider one more rate cut. The ECB will announce its interest rate decision on Thursday. The European economy is still encountering significant obstacles and the future continues to be unclear, made even worse by ongoing trade tensions. While there is general agreement on a 25 basis point rate cut, it must be challenging for policymakers to take decisive action amidst such uncertainty. The European Union is making considerable efforts to secure an agreement regarding the extended tariff deadline, which now runs until July 9. The potential implementation of tariffs presents a considerable risk, as they would inevitably drive inflation higher. This week, the financial markets will be influenced by various ongoing geopolitical issues. Additionally, Donald Trump's remarks regarding global economic matters may keep investors alert. WEEKLY OUTLOOK - June 2-6 GOLD @ $ 3289.50— Gold faces resistance levels at $ 3308 and $ 3328. I anticipate a softer trend. A drop below $ 3238-40 would heighten the chances of a decline reaching $ 3210. If that doesn't happen, and gold moves up, we may see a rise to $ 3355. EURO @ 1.1348— The Euro needs to surpass 1.1410 to reach 1.1480, which could be tough. However, is that a drop below 1.1245 could lead to a decline towards 1.1130. GBP @ 1.3461— Pound Sterling has good support in the 1.3330-40 range. Nevertheless, a decisive break of 1.3545 would likely lead to testing the 1.3590-00 levels. JPY @ 144.06— I anticipate that support at 142.80 will remain intact, allowing for a rise towards 145.80. A breakthrough will increase the likelihood of approaching the 146.60 levels. Copyright Business Recorder, 2025
Time of India
01-05-2025
- Business
- Time of India
US yields rise after better than expected manufacturing report
Longer-dated U.S. Treasury yields rose from three-week lows on Thursday after a better than expected manufacturing report for April, which also showed that tariffs on imported goods were straining supply chains and maintaining elevated prices for inputs. The Institute for Supply Management (ISM) said that its manufacturing PMI dropped to a five-month low of 48.7 last month, beating economists' forecasts for a drop to 48. Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Moose Approaches Girl At Bus Stop In Vinnyts'ka Oblast' - Watch What Happens Happy in Shape Undo The survey's measure of prices paid by manufacturers for inputs rose to 69.8, the highest level since June 2022. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Bonds Corner Powered By US yields rise after better than expected manufacturing report Longer-dated U.S. Treasury yields rose from three-week lows on Thursday after a better than expected manufacturing report for April, which also showed that tariffs on imported goods were straining supply chains and maintaining elevated prices for inputs. Overseas investors pull Rs 13,359 crore from Indian bonds amid US yield surge and geopolitical tensions Bond Market sees demand surge as RBI's Rs 1.25 Lakh crore OMO plan spurs premium pricing RBI gets nearly double the bids in Rs 20,000-cr market purchase After yield surge, US Treasury expected to keep auction sizes steady Browse all Bonds News with "It's cold comfort that the ISM Manufacturing index came in better than expected. It's more like it came in less bad than expected. The collapse of production and new export orders along with an increase in domestic orders suggests that costs are rising and activity is falling. That's not a great combination," said Brian Jacobsen, chief economist at Annex Wealth Management. Traders are balancing the risks that tariffs implemented by U.S. President Donald Trump will slow growth and increase inflation , with higher price pressures potentially delaying when the U.S. Federal Reserve is likely to resume interest rate cuts. Live Events "What we've heard from the FOMC so far is that they want to prioritise inflation expectations in any case where there's lower growth and stubbornly high inflation," said Will Compernolle, macro strategist at FHN Financial. Yields fell to a more than three-week low earlier on Thursday after data showed that the number of Americans filing new applications for unemployment benefits increased more than expected last week. Friday's employment report for April is expected to show that employers added 130,000 jobs during the month, while the unemployment rate held steady at 4.2%. The labor market has remained relatively resilient, which has allowed the U.S. central bank to keep interest rates on hold as it also watches for signs of a potential resurgence in inflation. Yields surged early last month after U.S. President Donald Trump announced larger than expected tariffs on trading partners, but have fallen since Trump offered a 90-day pause on most tariff increases. Traders are now focused on what deals will be reached between the United States and trading partners and are watching for when the expected impact of the trade levies are seen in the "hard" economic data. "If you exclude all of the sentiment surveys and the corporate earnings calls and what you would call anecdotal evidence, there's nothing in the hard data flashing red that says the Fed has to cut rates right now. So, they're waiting for any of these fears to channel into the hard data," said Compernolle. Fed funds futures traders are pricing in a 68% likelihood of a rate cut in June, and only 7% odds of a rate reduction at the Fed's May 6-7 meeting, according to the CME Group's FedWatch Tool. The yield on benchmark U.S. 10-year notes was last up 3.3 basis points at 4.208%, after earlier reaching 4.124%, the lowest since April 7. The two-year note yield, which typically moves in step with interest rate expectations, rose 1 basis point to 3.631%. It earlier fell to 3.558%, also the lowest since April 7. The yield curve between two-year and 10-year notes steepened by around 2 basis points to 57 basis points.
Bloomberg
01-04-2025
- Business
- Bloomberg
If I Have to Read the Word ‘Tariff' One More Time
Save This is Bloomberg Opinion Today, a gauntlet of Bloomberg Opinion's opinions. Sign up here. Although I work at Bloomberg, I'll be honest: I'm not religiously reading the latest ISM Manufacturing reports every month. The thought of regularly keeping tabs on corrugated box prices and polypropylene resin inventories bores me to death! So the fact that I actually read it today should have you worried. Before it's here, it's on the Bloomberg Terminal
