2 months ago
By Johann M Cherian and Niket Nishant
Sept 2 (Reuters) - Everyone knows Wall Street calls a 20% drop in a major index a bear market. But what do you call it when the index posts big gains and losses practically every day and is still way up for the year?
That question is testing the limits of the market's most familiar vocabulary and prompting some to question whether a term like bear market really applies when tech indexes are red hot and constantly gyrating.
"It's kind of lazy nomenclature to be using on things that are that volatile," said Art Hogan, chief market strategist at B. Riley Wealth.
The Philadelphia SE Semiconductor Index, a benchmark for chip stocks, and South Korea's tech-heavy KOSPI both entered bear markets in July, based on the traditional measure. But even at their troughs, the indexes were still up 46% and 25%, respectively, for the year, thanks to triple-digit percentage gains over the past year.
#bear #Tech
Sept 2 (Reuters) - Everyone knows Wall Street calls a 20% drop in a major index a bear market. But what do you call it when the index posts big gains and losses practically every day and is still way up for the year?
That question is testing the limits of the market's most familiar vocabulary and prompting some to question whether a term like bear market really applies when tech indexes are red hot and constantly gyrating.
"It's kind of lazy nomenclature to be using on things that are that volatile," said Art Hogan, chief market strategist at B. Riley Wealth.
The Philadelphia SE Semiconductor Index, a benchmark for chip stocks, and South Korea's tech-heavy KOSPI both entered bear markets in July, based on the traditional measure. But even at their troughs, the indexes were still up 46% and 25%, respectively, for the year, thanks to triple-digit percentage gains over the past year.
#bear #Tech
2 months ago
By Sinéad Carew and Johann M Cherian
Aug 26 (Reuters) - MSCI's global equities gauge barely rose on Wednesday after U.S. inflation data came in hotter than expected while investors waited for results from AI heavyweight Nvidia, and oil prices settled lower after a choppy session.
A senior Iranian source said on Wednesday that Iran and Oman are still working on the details of an agreement on the Strait of Hormuz, a vital energy conduit. Earlier, Iran's Revolutionary Guards said the two countries had agreed on how to share the waterway and its revenues. However, the Guards' spokesperson said the strait would not open unless the U.S. met Tehran's conditions.
Meanwhile, data showed annual U.S. inflation unexpectedly held steady in July and was well above the Federal Reserve's 2% target for the 65th straight month. Separate government data showed consumer spending decelerating modestly in July while personal incomes rose faster than inflation.
On Wall Street, the three main indexes closed slightly lower after the data.
#guards #july #rose #lower
Aug 26 (Reuters) - MSCI's global equities gauge barely rose on Wednesday after U.S. inflation data came in hotter than expected while investors waited for results from AI heavyweight Nvidia, and oil prices settled lower after a choppy session.
A senior Iranian source said on Wednesday that Iran and Oman are still working on the details of an agreement on the Strait of Hormuz, a vital energy conduit. Earlier, Iran's Revolutionary Guards said the two countries had agreed on how to share the waterway and its revenues. However, the Guards' spokesperson said the strait would not open unless the U.S. met Tehran's conditions.
Meanwhile, data showed annual U.S. inflation unexpectedly held steady in July and was well above the Federal Reserve's 2% target for the 65th straight month. Separate government data showed consumer spending decelerating modestly in July while personal incomes rose faster than inflation.
On Wall Street, the three main indexes closed slightly lower after the data.
#guards #july #rose #lower
2 months ago
By Johann M Cherian and Ankur Banerjee
Aug 26 (Reuters) - Global stocks edged up and weaker oil prices pushed bond yields lower on Wednesday on hopes that the vital Strait of Hormuz could soon reopen, while investors awaited U.S. inflation data and another pivotal earnings report from AI heavyweight Nvidia.
Iran and Oman said they had discussed "a joint temporary navigational corridor" through the Strait of Hormuz and agreed to clear it of mines, rejuvenating hopes for a breakthrough in the nearly six-month conflict that has roiled oil markets and stoked global inflationary worries.
Brent crude futures fell for a third straight day on Wednesday, sliding nearly 3% to $85.95 per barrel on the prospect of more supply coming through the Strait, which handled a fifth of the world's traded oil before the war.
That helped push short-term bond yields, sensitive to central bank interest rate expectations, lower.
#nearly
Aug 26 (Reuters) - Global stocks edged up and weaker oil prices pushed bond yields lower on Wednesday on hopes that the vital Strait of Hormuz could soon reopen, while investors awaited U.S. inflation data and another pivotal earnings report from AI heavyweight Nvidia.
Iran and Oman said they had discussed "a joint temporary navigational corridor" through the Strait of Hormuz and agreed to clear it of mines, rejuvenating hopes for a breakthrough in the nearly six-month conflict that has roiled oil markets and stoked global inflationary worries.
Brent crude futures fell for a third straight day on Wednesday, sliding nearly 3% to $85.95 per barrel on the prospect of more supply coming through the Strait, which handled a fifth of the world's traded oil before the war.
That helped push short-term bond yields, sensitive to central bank interest rate expectations, lower.
#nearly
2 months ago
By Tom Westbrook and Johann M Cherian
Aug 24 (Reuters) - The U.S. dollar hovered near multi-month lows on Monday in a market unsettled by the U.S. Treasury's promise to buy back more long-dated bonds, while traders awaited details of sanctions on Iran and for policy speeches this week in the U.S. and **** an.
Trade tensions weighed on the Canadian dollar, which weakened 0.5% to C$1.3836 per dollar, after Washington imposed 50% tariffs on Canadian goods, with Canada retaliating in kind.
With the dollar having slid broadly in recent days the euro was trading at $1.1665, down a touch on the day, but in sight of last week's three-month top.
Sterling was likewise marginally softer at $1.3628 but near its six-month high of $1.3675 also hit on Friday. The **** anese yen was a touch weaker at 159.25 per dollar.
#dollar #touch #johann #reuters
Aug 24 (Reuters) - The U.S. dollar hovered near multi-month lows on Monday in a market unsettled by the U.S. Treasury's promise to buy back more long-dated bonds, while traders awaited details of sanctions on Iran and for policy speeches this week in the U.S. and **** an.
Trade tensions weighed on the Canadian dollar, which weakened 0.5% to C$1.3836 per dollar, after Washington imposed 50% tariffs on Canadian goods, with Canada retaliating in kind.
With the dollar having slid broadly in recent days the euro was trading at $1.1665, down a touch on the day, but in sight of last week's three-month top.
Sterling was likewise marginally softer at $1.3628 but near its six-month high of $1.3675 also hit on Friday. The **** anese yen was a touch weaker at 159.25 per dollar.
#dollar #touch #johann #reuters
3 months ago
By Chuck Mikolajczak and Johann M Cherian
NEW YORK, Aug 3 (Reuters) - U.S. stocks kicked off August on a strong note to send the Dow Industrials to a closing record high, as signs of de-escalating U.S.-Iran tensions pulled down oil prices and Treasury yields in a busy week for earnings and economic data.
Crude prices settled down about 5% after U.S. President Donald Trump said on Sunday that talks with Iran to reopen the Strait of Hormuz would take place on Monday, though Iran disputed that talks were planned.
The drop in oil prices helped push U.S. Treasury yields lower, even as market participants continued to gauge the odds of a rate hike from the Federal Reserve should the Iran war continue for a prolonged period.
Communication services was the best performing of the 11 major S&P sectors, climbing 4.3% on the back of gains from Meta Platforms and Alphabet. Energy dropped 1.2% as the worst performer on the session.
#prices #chuck #cherian
NEW YORK, Aug 3 (Reuters) - U.S. stocks kicked off August on a strong note to send the Dow Industrials to a closing record high, as signs of de-escalating U.S.-Iran tensions pulled down oil prices and Treasury yields in a busy week for earnings and economic data.
Crude prices settled down about 5% after U.S. President Donald Trump said on Sunday that talks with Iran to reopen the Strait of Hormuz would take place on Monday, though Iran disputed that talks were planned.
The drop in oil prices helped push U.S. Treasury yields lower, even as market participants continued to gauge the odds of a rate hike from the Federal Reserve should the Iran war continue for a prolonged period.
Communication services was the best performing of the 11 major S&P sectors, climbing 4.3% on the back of gains from Meta Platforms and Alphabet. Energy dropped 1.2% as the worst performer on the session.
#prices #chuck #cherian
4 months ago
By Lawrence Delevingne, Johann M Cherian and Gregor Stuart Hunter
July 22 (Reuters) - Oil prices surpassed $95 per barrel on Wednesday as tensions intensified in the Middle East, pressuring U.S. equities ahead of key Big Tech earnings, while the dollar dipped against other major currencies.
Brent crude prices were last up around 3% and touched their highest in six weeks on concerns about supply disruptions.
That came after four oil tankers carrying Saudi crude to Asia reversed course in the Red Sea following threats of attack from Yemen's Iran-aligned Houthis, dampening hopes that the end to the recent spike in tensions could be imminent.
On Wall Street, the Dow Jones Industrial Average was little changed, while the S&P 500 fell 0.1% and the Nasdaq Composite dropped about 0.4%.
#delevingne #cherian #stuart
July 22 (Reuters) - Oil prices surpassed $95 per barrel on Wednesday as tensions intensified in the Middle East, pressuring U.S. equities ahead of key Big Tech earnings, while the dollar dipped against other major currencies.
Brent crude prices were last up around 3% and touched their highest in six weeks on concerns about supply disruptions.
That came after four oil tankers carrying Saudi crude to Asia reversed course in the Red Sea following threats of attack from Yemen's Iran-aligned Houthis, dampening hopes that the end to the recent spike in tensions could be imminent.
On Wall Street, the Dow Jones Industrial Average was little changed, while the S&P 500 fell 0.1% and the Nasdaq Composite dropped about 0.4%.
#delevingne #cherian #stuart
