Latest news with #SamStovall
Canada News.Net
a day ago
- Business
- Canada News.Net
Wall Street ends with whimper as investors fret over Israel-Itan conflict
NEW YORK, New YorK - U.S. stocks closed mixed on Friday, with gains and losses modest, as investors and traders weighed up the escalation of hostilities in the Middle East, and President Donald Trump's prevarications over whether or not to involve the U.S. in another war. "With so much uncertainty going on in this world, who really wants to go long over the weekend," Sam Stovall, chief investment strategist at CFRA Research told CNBC Friday. "If there's a calming down of the geopolitical activities, then you know that could be helpful," he said. Major U.S. indexes ended Friday's trading session with mixed results as investors weighed economic data and corporate earnings ahead of the weekend. The tech-heavy Nasdaq led declines, while the Dow Jones managed modest gains. Technology stocks faced pressure following mixed earnings reports, while defensive sectors helped the Dow end in positive territory. Trading volumes were moderate, with the S&P 500 seeing 4.936 billion shares change hands. Analysts noted cautious sentiment ahead of next week's key inflation data and Federal Reserve commentary. Key Market Moves Global Forex Markets Wrap Up Friday with U.S. Dollar Back on Top Friday's foreign exchange session saw the U.S. dollar gaining against all the major currencies. Here's a breakdown of Friday's latest FX rates: Key Currency Pairs EUR/USD (Euro/US Dollar): Rose to 1.1521 up 0.24 percent as the euro strengthened slightly. USD/JPY (US Dollar/Japanese Yen): Climbed to 146.11, gaining 0.46 percent amid continued dollar strength. USD/CAD (US Dollar/Canadian Dollar): Increased to 1.3732, up 0.25 percent as oil-linked currencies faced pressure. GBP/USD (British Pound/US Dollar): Edged lower to 1.3453, dipping 0.09 percent in cautious trading. USD/CHF (US Dollar/Swiss Franc): Advanced to 0.8176, rising 0.15 percent as the franc softened. AUD/USD (Australian Dollar/US Dollar): Fell to 0.6450, down 0.47 percent on weaker risk sentiment. NZD/USD (New Zealand Dollar/US Dollar): Dropped to 0.5965, declining 0.44 percent in tandem with broader commodity FX weakness. Global Markets Wrap Up Friday with Mixed Performance Friday's trading session saw mixed results across global indices, with some markets posting gains while others edged lower. Here's a detailed look at the closing figures: European markets showed resilience, with Germany's DAX leading gains, while Asian indices were mixed amid varied regional economic signals. India's Sensex stood out with a strong rally, whereas Australia and New Zealand saw slight declines. Canada S&P/TSX Composite (Canada): Finished nearly flat at 26,497.57, slipping just 8.43 points (-0.03 percent). UK and Europe FTSE 100 (UK): Closed at 8,774.65, down 17.15 points (-0.20 percent). DAX (Germany): Rose sharply to 23,350.55, gaining 293.17 points (+1.27 percent). CAC 40 (France): Ended at 7,589.66, up 36.21 points (+0.48 percent). EURO STOXX 50: Advanced to 5,233.58, adding 36.55 points (+0.70 percent). BEL 20 (Belgium): Climbed to 4,439.53, increasing by 27.82 points (+0.63 percent). Asia and Pacific Hang Seng (Hong Kong): Jumped to 23,530.48, up 292.74 points (+1.26 percent). Nikkei 225 (Japan): Dipped to 38,403.23, down 85.11 points (-0.22 percent). SSE Composite (China): Closed at 3,359.90, slipping 2.21 points (-0.07 percent). STI (Singapore): Slipped to 3,883.43, losing 10.75 points (-0.28 percent). S&P/ASX 200 (Australia): Fell to 8,505.50, down 18.20 points (-0.21 percent). All Ordinaries (Australia): Dropped to 8,723.50, declining by 17.90 points (-0.20 percent). S&P BSE SENSEX (India): Surged to 82,408.17, gaining 1,046.30 points (+1.29 percent). IDX Composite (Indonesia): Declined to 6,907.14, down 61.50 points (-0.88 percent). KLSE (Malaysia): Inched up to 1,502.74, rising 1.30 points (+0.09 percent). NZX 50 (New Zealand): Fell to 12,569.05, losing 58.27 points (-0.46 percent). KOSPI (South Korea): Rose to 3,021.84, up 44.10 points (+1.48 percent). TWSE (Taiwan): Gained slightly to 22,045.74, adding 42.24 points (+0.19 percent). Middle East Middle East markets were mostly closed on Friday and will re-open on Sunday. Africa Johannesburg All Share (South Africa): Ended at 5,202.45, up 23.46 points (+0.45 percent).
CNBC
2 days ago
- Business
- CNBC
Sam Stovall: Fed is correct in staying on hold with rate cuts
Sam Stovall, CFRA Research Chief Investment Strategist, joins CNBC's 'Squawk on the Street' to discuss expectations for the Fed, market outlooks, and more.
Business Recorder
13-06-2025
- Business
- Business Recorder
S&P 500 and Nasdaq edge higher on tech boost
NEW YORK: The S&P 500 and Nasdaq edged higher on Thursday as Oracle's results boosted optimism around artificial intelligence, offsetting concerns around rising tensions in the Middle East and a drop in Boeing shares. Oracle shares shot up nearly 14% to record highs after the cloud service provider raised its annual revenue growth forecast, driven by strong demand for its AI-related cloud services. Boeing declined 5% after an Air India 787-8 Dreamliner jet crashed minutes after taking off in India's western city of Ahmedabad, killing more than 200 people. 'I think it will be important to see whether the findings point to a problem with maintenance rather than a problem with the original equipment,' said Sam Stovall, chief investment strategist at CFRA Research. Signs of rising tensions in the Middle East also weighed on global markets. President Donald Trump said on Wednesday US personnel were being moved out of the region as it could be a 'dangerous place' and the United States would not allow Iran to have a nuclear weapon. Officials from both countries are scheduled to meet in Oman on Sunday for a sixth round of nuclear talks. A senior Iranian official said on Wednesday Tehran will strike US bases in the region if nuclear negotiations fail and conflict arises. At 11:40 a.m. ET, the Dow Jones Industrial Average fell 49.67 points, or 0.12%, to 42,816.10, the S&P 500 gained 8.65 points, or 0.14%, to 6,030.89 and the Nasdaq Composite gained 18.95 points, or 0.10%, to 19,634.83. Seven of the 11 major S&P 500 sub-sectors rose, led by information technology stocks with a 0.8% rise. Shares of Nvidia, Broadcom and Super Micro Computers rose more than 1% each. US-listed shares of gold miners also advanced, as bullion prices hit a one-week high. Newmont gained 3.5%, Harmony Gold was up 3.7% and AngloGold Ashanti rose 5.6%. Softer-than-expected producer price data and initial jobless claims numbers pointing to a potential weakening in the labor market helped reduce investor jitters around tariff-driven price pressures and boosted rate cut bets. Traders are pricing in 53.7 basis points of rate cuts by year-end, per data compiled by LSEG. They are penciling in a near 60% chance of a 25 bps cut in September, according to the CME Group's FedWatch tool. Policymakers are widely expected to keep rates unchanged next week. The S&P 500 posted 8 new 52-week highs and 3 new lows while the Nasdaq Composite recorded 38 new highs and 48 new lows.
RTHK
12-06-2025
- Business
- RTHK
After 3 up days, S&P 500 falls on trade announcement
After 3 up days, S&P 500 falls on trade announcement Besides trade, markets on Wall Street also digested key US inflation data. Photo: AFP Wall Street stocks finished lower on Wednesday despite positive movement in the US-China trade conflict and a benign US inflation report. Following two days of talks in London, top US and Chinese negotiators announced a "framework" agreement late on Tuesday, but stocks fell in what described as a "sell the news" response to a breakthrough that had been largely priced in. The S&P 500, which rose the last three days, finished down 0.3 percent at 6,022. The Dow Jones was flat at 42,865, while the Nasdaq dropped 0.5 percent to 19,615. Besides trade, markets digested key inflation data. US consumer prices rose 2.4 percent compared with a year ago, up from a 2.3 percent reading for the prior month, a modest uptick that analysts said still did not fully reflect the impact of Trump's tariffs. Sam Stovall of CFRA Research described Wednesday's session as a "rollercoaster," positing that the negative finale may reflect unease at reports Trump could appoint a "shadow" Federal Reserve Chair to try to influence monetary policy without firing Fed Chair Jerome Powell. Stovall also highlighted the possibility that "the market is overbought and due for some sort of digestion of gains." Among those falling, large tech names including Amazon, Facebook parent Meta and Apple lost more than one percent. (AFP)
NDTV
09-06-2025
- Business
- NDTV
Wall Street Investors Wait And Watch As US, China Hold Trade Talks In UK
Wall Street stocks were little changed early Monday as investors awaited details from trade talks between the United States and China in London. The Dow Jones Industrial Average edged down 0.1 percent to 42,710.60, while the broad-based S&P 500 Index was flat at 5,999.11. The tech-heavy Nasdaq Composite Index crept up 0.1 percent to 19,550.16. There is "some optimism that momentum could be maintained" in the markets, with the S&P 500 not far from a new all-time high, said Sam Stovall of CFRA Research. "But we'll have to wait and see whether the economic data, the trade negotiations will continue to be supportive," he added. On Monday, representatives from the world's two biggest economies gathered in London for trade talks. A US delegation led by Treasury chief Scott Bessent, Commerce Secretary Howard Lutnick and US Trade Representative Jamieson Greer began a round of negotiations with a team headed by Chinese Vice Premier He Lifeng. All eyes are on whether both sides can reach a longer-lasting truce, after temporarily de-escalating staggeringly high tariffs in May. But tensions over export controls underscore the challenges that both countries are grappling with. Markets will also be monitoring US inflation figures due midweek. Among individual companies, shares of Warner Bros. Discovery surged more than 12 percent in early trading after it announced Monday that it will split into two companies as it seeks to build up its streaming business.
