BofA says bullish January barometer supports 5000+ for S&P 500 in 2024
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- Wall Street ends lower as solid jobs data fuels hawkish Fed bets
- US nonfarm payrolls blow past expectations in August; unemployment rate steady at 4.1%
- BofA's Hartnett says stay long commodities and gold as 'policy panic' works
- Oil ends week higher on renewed US-Iran strikes, diesel hits record
- TikTok owner ByteDance said to secure $29.6bn loan for AI push
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US outperforms Europe in Q4 earnings so far, tech leads the way - Barclays
February 2, 2024 9:03 AM ESTBarclays strategists said in a note that fourth-quarter results have been unimpressive so far but mostly in line with lowered expectations, with about one-third of companies having released earnings.
Strategis Emmanuel Cau, who headed the note, told investors that the US is ahead of Europe, while defensives... More
Construction Spending (Dec MoM) 0.9% vs 0.5% Expected
February 1, 2024 10:00 AM ESTConstruction Spending (Dec MoM) 0.9% vs 0.5% Expected
... MoreISM Manufacturing (Jan) 49.1 vs 47.2 Expected
February 1, 2024 10:00 AM ESTISM Manufacturing (Jan) 49.1 vs 47.2 Expected
... MoreS&P Global U.S. Manufacturing PMI (Jan F) 50.7 vs 50.3 Expected/Prior
February 1, 2024 9:45 AM ESTS&P Global U.S. Manufacturing PMI (Jan F) 50.7 vs 50.3 Expected/Prior
... MoreBofA's contrarian indicator shows Wall Street is 'skeptical' about stocks rally
February 1, 2024 8:39 AM ESTBank of America Corp.'s contrarian indicator suggests a shift in equity sentiment for the first time since October.
The Sell-Side Indicator (SSI) reflects the average equity allocation recommended by sell-side strategists in a balanced fund.
Current concerns like China's growth prospects, expectations of Federal Reserve rate cuts, and geopolitical... More
Nonfarm Productivity (4Q P) 3.2% vs 2.5% Expected
February 1, 2024 8:30 AM ESTNonfarm Productivity (4Q P) 3.2% vs 2.5% Expected
... MoreInitial Jobless Claims 224K vs 212K Expected
February 1, 2024 8:30 AM ESTInitial Jobless Claims 224K vs 212K Expected
... MoreChallenger Job Cuts (Jan) YoY -20% vs -20.2% Prior
February 1, 2024 7:30 AM ESTChallenger Job Cuts (Jan) YoY -20% vs -20.2% Prior
... MoreWall Street ends higher; earnings, jobs report in focus
February 1, 2024 6:29 AM ESTBy Stephen Culp
(Reuters) -U.S. stocks rebounded on Thursday as investors looked to a spate of high-profile earnings and the Friday's employment report a day after the Federal Reserve quashed lingering bets that interest rate cuts could begin as early as March.
While a broad rally sent all three major U.S. stock indexes sharply higher, the tech-laden Nasdaq advanced the most.
"Theres further digestion of the Fed," said Thomas Martin, Senior Portfolio Manager at GLOBALT in Atlanta. "Its still a growth market and yesterday's sell-off was an overreaction. So today were getting a rally."
... MoreGoldman Sachs, Bank of America push out rate cut expectations after Powell's comments
February 1, 2024 6:06 AM ESTInvestors had been looking forward to a possible reduction in interest rates or the start of a series of rate cuts at the upcoming FOMC meeting in March.
However, Federal Reserve Chair Jerome Powell cast doubt on this expectation in his Wednesday afternoon remarks.
He tempered anticipations for prompt and significant rate cuts beginning as early as next month.
Based on the meeting today, I would tell you that I dont think its likely that the committee will reach a level of confidence by the time of the March meeting to identify March is... More
