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U.S. Stocks and Bonds Rise After Powell Comments

Jun 23, 2022
Barry Adams
U.S. stocks accelerated gains in the final hour of trading after bond yields fell. Stocks advanced after the Fed Chairman talked tough on inflation and Fed officials called for aggressive rate increases. European markets fell more than 1% after a sharp decline in business activities.

Movers: Accenture, Darden Restaurants, HB Fuller, KB Homes, Occidental, Steelcase, Worthington

Jun 23, 2022
Barry Adams
Darden Restaurants blended same store sales rose 11.7%. HB Fuller anticipates raw materials cost to rise 20% in the current year. Steelcase narrowed quarterly loss. Berkshire Hathaway lifted its stake in Occidental Petroleum to 16.3%. Worthington Industries quarterly sales soar 50%.

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European Movers: Air Liquid, Gamesa, Generali, Siemens Energy

Jun 23, 2022
Bridgette Randall
Energy companies in Europe declined for the second day in a row. Siemens Energy and Air Liquid announced a venture to work on a green hydrogen project. Gamesa won a wind turbine order from the offshore project located off the coast of Scotland.

S&P, Nasdaq Advance 1%, Mortgage Rates Continue to Rise

Jun 23, 2022
Barry Adams
U.S. stocks advanced as investors set asides the recession and elevated inflation worries but European markets struggled after growth worries resurfaced in the region. The yield on U.S. Treasury yields edged lower but mortgage rates increased to 5.81%..

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European Markets Turn Lower On Growth Slow Down Worries

Jun 23, 2022
Bridgette Randall
European markets declined after growth worries in the region resurfaced. The manufacturing output contracted for the first time in two years and service sector growth slowed in June. Energy prices eased for the second day in a row.

Asian Markets Advance On Oil Weakness

Jun 23, 2022
Arjun Pandit
Markets across Asia advanced and indexes in China led the gainers in the region. Chinese authorities are likely to extend tax suspension on electric vehicles. Resource stocks led the decliners in Japan and the Nikkei closed up marginally.

Stocks Lacked Direction as Powell Testifies to Congress

Jun 22, 2022
Barry Adams
Stocks ended lower after a day of volatile trading and the Fed Chairman reiterated the central bank's commitment in fighting inflation to Congress. Crude oil edged lower after president Biden's administration proposed to suspend federal fuel tax for three months.

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Movers: BASF, Carlsberg, Clariant, Credit Agricole, Hugo Boss, Mowi

Jun 22, 2022
Bridgette Randall
BASF said the second-half outlook is likely to be challenging. Clariant AG plans to review its business portfolio. Credit Agricole plans to ramp up its retail account acquisition. Carlsberg CFO decides to move on.

European Markets Declined After UK Inflation Accelerated and Oil Fell

Jun 22, 2022
Bridgette Randall
European markets declined after the UK inflation accelerated in May on rising food and energy prices. Crude oil declined 6% in London trading. BASF fell on a weak outlook. Frasers increased Hugo Boss stake. Clariant to review its business portfolio.

Stocks Turned Lower On Recession Worries

Jun 22, 2022
Barry Adams
In choppy trading stocks lacked direction but retained a negative bias on economic recession worries. The Fed Chairman Powell reaffirmed the central bank's commitment in fighting inflation. Energy complex stocks fell after crude oil prices fell 6%.

S&P 500 and Nasdaq Rebound 2.5% After Volatile Week

Jun 21, 2022
Barry Adams
The S&P 500 and the Nasdaq Composite indexes soared 2.5% after a week of volatile trading. Existing home sales declined in May and a median home price crossed $400,000 for the first time. Mondelez agreed to acquire Clif Bar & Co for $2.9 billion.

Movers: Clif Bar, Kellogg, Lennar, Mondelez, Spirit Air, Tesla, Valneva

Jun 21, 2022
Barry Adams
Kellogg announced its plan to split its international and plant food businesses. Mondelez agreed to acquire Clif Bar & Co for $2.9 billion. JetBlue lifted its offer for Spirit Air. Lennar reported higher than expected sales and earnings.

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S&P 500 Jumps 2.6%, Record Existing Home Price In May

Jun 21, 2022
Barry Adams
Stocks rebounded after the S&P 500 suffered its worst week in two years. The Nasdaq jumped 3% and the S&P 500 index gained 2.6%. Existing home sales in May declined and the median home price soared to a record high above $400,000.

European Indexes Extend 2-Day Rally

Jun 21, 2022
Bridgette Randall
European markets extend 2-day rally and advance 2% with cyclicals and beaten down tech stocks leading the gainers. Ocado completed a stock offering of £575 million. Nordex dropped after quarterly loss widened. EasyJet exercised to acquire more Airbus planes.



European Markets Advance In Cautious Trading

Jun 20, 2022
Bridgette Randall
European market indexes traded higher after a week of selloff. ECB President Lagarde reaffirmed the central bank's commitment in fighting inflation and widening rate spreads in the region.