Commodity / Financial Market News

Microsoft Corp. stock falls Friday, underperforms market

Shares of Microsoft Corp. MSFT, -1.94% shed 1.94% to $232.90 Friday, on what proved to be an all-around rough trading session for the stock market, with the S&P 500 Index SPX, -1.51% falling 1.51% to 3,585.62 and Dow Jones Industrial Average DJIA, -1.71% falling 1.71% to 28,725.51. This was the stock’s second consecutive day of …

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Micron cuts capital spending to stem ‘unprecedented’ oversupply cycle

Micron Technology Inc. shares fell slightly in the extended session Thursday after the memory-chip maker said it was taking steps to emerge from an “unprecedented” current market downcycle by scaling back on plans to build out capacity. For the fiscal first quarter, Boise, Idaho-based Micron MU, +1.28% said it expects between an adjusted loss of …

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US economy shrank in the first half of 2022, updated GDP figures confirm

The numbers: The US shrank in the first six months of the year, revised government figures confirm, and painted a picture of an economy buffeted by strong headwinds and tailwinds. Gross domestic product, the official scorecard of the economy, fell at a 0.6% annual clip in the second quarter, the Bureau of Economic Analysis said …

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Bond-market volatility touches one of highest levels since 2007-2009 financial crisis and recession

Volatility in the ordinarily sedate world of bonds climbed this week to one of the highest levels since the 2007-2009 financial crisis and recession. The ICE BofA MOVE Index, which tracks fixed-income volatility, soared to 158.12 as of Tuesday, the most recent data available, according to Refinitiv. That’s the highest since 2009, with the exception …

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First thing Fed breaks with higher rates will be the financial markets, BMO says

The Federal Reserve is the proverbial bull in the china shop, prepared to create damage with higher interest rates to bring down the hottest inflation spell of the past 40 years. The first thing that will break is the financial markets, “as currently unfolding,” BMO Capital Markets economists Michael Gregory and Sal Guatieri said in …

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US stock futures dip, dollar rises as Italian election results add to uncertainty

US stock-index futures fell late Sunday, suggesting losses Monday, as the projected victory of a far-right party in Italy added to uncertainties about rising interest rates and recession fears. After falling nearly 200 points earlier in the session, Dow Jones Industrial Average futures YM00, -0.51% were down about 150 points, or 0.5%, around midnight Eastern, …

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Jobless claims edge up to 213,000 but still show strong US labor market and few layoffs

The numbers: The number of people who applied for unemployment benefits last week rose by 5,000 to 213,000, but new jobless claims are still quite low and reflect strong demand for labor even in a weakening US economy. The increase in new claims was the first in five weeks, but it was basically a statistical …

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“An economy struggling in a stagflationary environment”, says S&P Global on US business activity

The numbers: US companies said business activity perked up in September largely because of an increase in new customer orders, but high inflation and lingering supply shortages posed obstacles to growth prospects. The S&P Global US manufacturing sector index edged up to 51.8 this month from a two-year low of 51.5 in August, based on …

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Dow falls below June low — here’s what it would take to enter bear market

An ugly Friday for global equities led to a sharply lower start for Wall Street, as investors eye a potential retest of crucial support on the price charts at the June lows. The Dow Jones Industrial Average DJIA, -1.44%, in fact, was down 390 points or 1.3%, at 29,687, trading below its June 17 closing …

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