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S&P 500 Down 2%, Nasdaq Drops 3% as Bear Market Rally Fizzles

Jun 28, 2022
Barry Adams
Major market averages turned negative after the consumer confidence index dropped for the second month in a row and expectations index plunged to a nine-year low. Crude oil extended gains on the expectations of rising demand from China.

U.S. Stocks Mixed as China Relaxes Covid Restrictions

Jun 28, 2022
Barry Adams
U.S. stocks wavered after the early bounce dissipated following weak consumer confidence data. Crude oil prices continue to march ahead after China eased restrictions for inbound travelers.

European Markets Retain Positive Bias, ECB's Lagarde Highlighted Gradual Approach

Jun 28, 2022
Bridgette Randall
European markets traded higher on China optimism. Energy priced advanced. The ECB President Christine Lagarde played down recession risk in the euro zone and added that the central bank is ready to lift rates higher and faster if inflation continues to accelerate.

U.S. Stocks Waver, Oil Price Rebound Likely to Persist

Jun 27, 2022
Barry Adams
U.S. stocks lacked direction on Monday after a week of strong gains. Durable goods orders rose more than expected in May. The U.S. dollar held firm against the euro and the yen.

European Markets Lose Early Momentum

Jun 27, 2022
Bridgette Randall
European markets lost early momentum after worries of higher and faster interest rates eased. Resource stocks gained on the expectations of higher demand from China as economic activities rebound after several months of lockdown.

Best One-Day Gain In S&P 500 In Two Years

Jun 24, 2022
Barry Adams
The S&P 500 index delivered its best one-day gain since May 2020 and completed the week with a rise of 6.5% after a consumer sentiment survey showed a slight moderation in inflation expectations.

Movers: CarMax, Carnival Cruise, FedEx, LendingTree, Microsoft, ZenDesk

Jun 24, 2022
Barry Adams
Carnival Cruise reported its best quarterly bookings. FedEx quarterly results were mixed but held out for a stronger annual outlook. ZenDesk agreed to go private. LendingTree lowered its quarterly revenues outlook.

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S&P 500 Jumps 2% On Lower Rate Expectations

Jun 24, 2022
Barry Adams
The S&P 500 and the Nasdaq Composite indexes extended weekly gains after a tumultuous month of trading. The consumer sentiment level dropped to the lowest level on record but also showed moderate inflation expectations for the year.

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European Markets Advance, Spain's Growth Slows, UK Retail Sales Fall

Jun 24, 2022
Bridgette Randall
European markets extended gains after investors looked beyond elevated inflation and recession. Spain's economic growth in the first quarter slowed. UK retail sales eased after food prices surged.

Asian Markets Rebound, Japan Inflation at 7-Year High

Jun 24, 2022
Arjun Pandit
Asian stock markets advanced on weaker commodities prices and earnings optimism for the current quarter. Consumer inflation in Japan stayed at 7-year high. Tech stocks in China and Korea led the gainers.

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.

Accenture Lifts Annual Revenues Outlook, Lifts Dividend 10%

Jun 23, 2022
Scott Peters
Accenture reported strong revenues and earnings growth in the latest quarter and raised sales outlook for the fiscal year and narrowed earnings estimates.

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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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