Author: iHub News
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U.S. Stocks Settle Lower As Traders Scale Back Rate Cut Bets After PPI Data
U.S. stocks settled lower on Friday as robust producer price inflation data raised concerns that Federal Reserve may not consider lowering interest rate anytime soon. The major averages all ended weak, with the downside of the tech-laden Nasdaq (NASDAQI:COMP) more pronounced. The Dow (DOWI:DJI), which briefly emerged into positive territory around mid afternoon, ended with…
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U.S. Stocks Turning In Lackluster Performance As Traders Digest Data Onslaught
With traders digesting a slew of U.S. economic data, stocks are turning in a lackluster performance during trading on Thursday. The major averages have turned mixed on the day following the significant rebound seen in the previous session. Currently, the Dow (DOWI:DJI) is up 197.38 points or 0.5 percent at 38,621.65 and the S&P 500…
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U.S. First-Time Unemployment Claims, Retail Sales Both Unexpectedly Decline
First-time claims for U.S. unemployment benefits unexpectedly declined in the week ended February 10th, according to a report released by the Labor Department on Thursday. The report said initial jobless claims fell to 212,000, a decrease of 8,000 from the previous week’s revised level of 220,000. Economists had expected initial jobless claims to inch up…
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Futures Pointing To Extended Rebound On Wall Street
The major U.S. index futures are currently pointing to a modestly higher open on Thursday, with stocks likely to extend the rebound from Tuesday’s sell-off seen during Wednesday’s session. The futures edged higher following the release of a slew of U.S. economic data, including a Commerce Department report showing retail sales fell by much more…
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U.S. Stocks Show Significant Move Back To The Upside
Stocks showed a strong move back to the upside during trading on Wednesday, partly offsetting the sell-off seen in the previous session. The major averages all moved higher on the day, with the tech-heavy Nasdaq leading the rebound. After plunging by 1.8 percent Tuesday’s trading, the Nasdaq (NASDAQI:COMP) surged 203.55 points or 1.3 percent to…
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Lyft, Robinhood Shares Strong
Shares of Lyft (NASDAQ:LYFT) are soaring in pre-market trading after the ride-hailing company reported better than expected fourth quarter results and provided upbeat guidance. Investing platform Robinhood (NASDAQ:HOOD) is also seeing significant pre-market strength after reporting fourth quarter results that exceeded analyst estimates on both the top and bottom lines. On the other hand, shares…
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Oil Inventories Report Due
At 10:30 am ET, the Energy Information Administration is scheduled to release its report on oil inventories in the week ended February 9th. Crude oil inventories are expected to increase by 2.6 million barrels after jumping by 5.5 million barrels in the previous week. Chicago Federal Reserve Bank President Austan Goolsbee is due to participate…
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Traders May See Yesterday’s Sell-Off As Buying Opportunity
The major U.S. index futures are currently pointing to a higher open on Wednesday, with stocks likely to regain ground following the sell-off seen in the previous session. Traders may see the sharp pullback during Tuesday’s session as a buying opportunity amid ongoing optimism about the outlook for the markets. While yesterday’s inflation data further…
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U.S. Stocks Move Sharply Lower On Hotter-Than-Expected Inflation Data
Stocks moved sharply lower during trading on Tuesday, with the major averages all showing significant moves to the downside after ending Monday’s trading narrowly mixed. The Dow pulled back well off yesterday’s record closing highs. The major averages climbed off their worst levels going into the close but still posted steep losses on the day.…
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U.S. Consumer Prices Up More Than Expected
A highly anticipated report released by the Labor Department on Tuesday showed consumer prices in the U.S. increased by slightly more than expected in the month of January. The Labor Department said its consumer price index rose by 0.3 percent in January after inching up by 0.2 percent in December. Economists had expected consumer prices…