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Treasury Yields fell after U.S. inflation data

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U.S. inflation data

U.S. Treasury yields fell Wednesday after the April consumer price index matched economists’ expectations. The statistics lifted sentiment among some investors worried that price pressures may have been stronger than forecasts.

U.S. consumer prices rose in April on higher gasoline and rents, while core inflation remained strong because of a rebound in used car prices.

“The index matched forecasts, but I think a lot of people were expecting stronger numbers, so the market reaction was notable,” said Priya Misra of TD Securities.

U.S. indicative 10-year bond yields fell about 5 basis points to 3.462% and two-year bond yields (US2YT=RRR) fell about 12 bps to 3.949%. Approximately the same situation is observed on the T-Bond Futures market

The closely watched inversion of the section of the U.S. government debt yield curve that measures the gap between two- and ten-year bond yields 

Market participants assume that the Fed will keep rates unchanged in June unless there is an unexpected spike in price pressures. Inflation statistics for May will be released June 13, the day before the Fed finishes its June meeting.

Traders are now pricing in an 86% probability that the Fed will leave rates at current levels next month, while a 25 basis point rate hike is estimated at 14%. 

One-month UST (US1MT=RR) yields hit a record 5.811% earlier Wednesday, as some investors shunned U.S. bonds, which mature when the U.S. Treasury probably exceeds the souvenir debt limit.

U.S. President Joe Biden and top U.S. lawmakers on Tuesday agreed to continue talks and seek a solution to the impasse over raising the national debt ceiling.

Earlier, we reported that European stocks fell ahead of the ECB.

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US stocks struggles for direction amid thin trading volumes ahead of long weekend

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Investing.com– U.S. stocks struggled for direction Thursday, as investors digested data that continue to suggest the economy is headed for a soft landing, though trading volumes were light ahead of key inflation headed into the long weekend.    

At 13:51 ET (17:52 GMT), rose just 24 points higher, or 0.1%, rose 0.1%, while  fell 0.2%.

Q4 GDP growth revised higher 

The U.S. economy grew faster than previously estimated in the fourth quarter, with data released earlier Thursday showing  increased at a 3.4% annualized rate in the fourth quarter, revised up from the previously reported 3.2% pace.

The revision reflected upgrades in consumer spending, nonresidential fixed investment, and state and local government spending, all underpinned by a resilient labor market.

A separate report showed initial claims for state unemployment benefits fell 2,000 to a seasonally adjusted 210,000 for the week ended March 23. 

However, investors are struggling to add to the previous session’s strong gains after Fed Governor , speaking at an Economic Club of New York gathering late Wednesday, said there was no hurry for the Fed to cut interest rates now, citing a slew of hotter-than-expected inflation readings in recent months. 

While Waller said that the central bank will eventually cut interest rates this year, he added current resilience in the U.S. economy gave the Fed substantial headroom to keep rates higher for longer.

His comments contrasted a somewhat dovish outlook from the Fed last week, where the central bank signaled that it still saw about 75 basis points of rate cuts in 2024. This had triggered a rally on Wall Street last week, with U.S. stock indexes now sitting in sight of record highs.

The main focus, however, will be on Friday’s release of the Fed’s favorite inflation gauge, the , when the market is shut for Good Friday, and is largely expected to factor into the outlook for U.S. interest rates.

Along with the PCE data, addresses from and are also due on Friday.

RH outlook trigger bullish upgrades from Wall Street “exceptional” demand; WBA delivers Q2 beat

RH (NYSE:) stock soared 16% after the home furnishing company reported “exceptional” demand for its new catalog of products, even after its fourth-quarter results missed expectations, as adverse weather and shipping delays weighed.

“RH has high performance expectations for its bevy of new, sharper-priced products rolling out in catalogs and to its stores through the year,” Wedbush said after lifting its price target on the stock to $320 from $260. 

Walgreens Boots (NASDAQ:) stock rose 3.4% after the pharmacy chain reported fiscal second-quarter sales that beat expectations, but lowered the high end of its full-year adjusted earnings outlook in part due to a “challenging” U.S. retail environment.

Take-Two, Home Depot in deal making acton

Take-Two Interactive Software (NASDAQ:) stock rose 1.4% after the video games developer agreed to buy U.S. game developer Gearbox Entertainment for $460 million,. 

Home Depot (NYSE:) stock dropped 1% after the home improvement retailer announced plans to buy building materials supplier SRS Distribution in a $18.25 billion deal, bolstering its business among professional customers.

‘Crypto King’ Sam Bankman-Fried gets 25-year jail sentence

Sam Bankman-Fried, the founder of FTX cryptocurrency exchange, was convicted of stealing $8 billion from customers and sentenced to 25 years in prison.  

The sentencing comes just as crypto rebounded from it recent malaise with BTC up 3.3% to $70,964 in recent trading.

 

(Ambar Warrick contributed to this article.)

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68 Ameriprise Financial Advisors Named to the Barron’s Top 1,200 Financial Advisors List

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MINNEAPOLIS–(BUSINESS WIRE)–Ameriprise Financial (NYSE: AMP (OTC:)) today announced that 68 of its financial advisors were named to the 2024 Barron’s Top 1,200 Financial Advisors list. Barron’s recognizes the industry’s top advisors according to several factors including professionalism, philanthropic work and success in the business. The rankings are based on data provided by more than 6,000 of the nation’s most productive advisors.

We congratulate the advisors who have earned a place on this acclaimed Barron’s list, said Bill Williams, Executive Vice President and President of the firm’s independent advisor channel. This recognition is a testament to how tirelessly these advisors work on behalf of their clients to help them achieve their biggest goals in life. Ameriprise provides best-in-class resources and leadership to fuel our advisors’ growth, allowing them to deliver this life-changing financial advice to more people.

The advisors on this list share our passion and deep commitment to serving clients exceptionally well, said Pat O’Connell, Executive Vice President and President of the firm’s branch and financial institutions channels. We applaud their success, and the way they harness the technology, practice support and development opportunities we offer at Ameriprise to consistently deliver a referable client experience.

The full list of Barron’s Top 1,200 Financial Advisors can be found at Barron’s.com.

About Ameriprise Financial (NYSE:)

At Ameriprise Financial, we have been helping people feel more confident about their financial future for 130 years1. With extensive investment advice, asset management and insurance capabilities and a nationwide network of approximately 10,000 financial advisors, we have the strength and expertise to serve the full range of individual and institutional investors’ financial needs.

1Company founded June 29, 1894.

Source: Barron’s ®, March 8, 2024, Barron’s Top 1,200 Financial Advisors.

Barron’s generates its rankings from a formulaic analysis of surveys answered by candidates regarding assets, revenue, and quality of practice, including an advisor’s regulatory and compliance record. Certain awards include a demographic component to qualify. This award for each applicable year is based on data from the previous two calendar years and is not indicative of this advisor’s/team’s future performance. Neither Ameriprise Financial nor its advisors pay a fee to Barron’s in exchange for the ranking or its use. Barron’s is a registered trademark of Dow Jones, L.P.; all rights reserved.

Ameriprise Financial cannot guarantee future financial results.

Investment products are not insured by the FDIC, NCUA or any federal agency, are not deposits or obligations of, or guaranteed by any financial institution, and involve investment risks including possible loss of principal and fluctuation in value.

Securities offered by Ameriprise Financial Services, LLC. Member FINRA and SIPC.

© 2024 Ameriprise Financial, Inc. All rights reserved.

Stephanie Siegle, Media Relations
612.671.2593
Stephanie.Siegle@ampf.com

Source: Ameriprise Financial

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Oxurion Receives Transparency Notification from Atlas Special Opportunities LLC

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Oxurion Receives Transparency Notification from Atlas (NYSE:) Special Opportunities LLC

Leuven, BELGIUM “ March 28, 2024 “ 07:00 PM CET Oxurion NV (Euronext Brussels: OXUR), a biopharmaceutical company headquartered in Leuven, today announced that, pursuant to Belgian Transparency legislation1 it has received transparency notifications as follows:

Oxurion received a transparency notification on March 27, 2024, from Atlas Special Opportunities, LLC indicating that as of March 19, 2024, it held 0 (zero) shares of the then outstanding 5,753,951,723 shares, and therefore crossed below the threshold (3%) by virtue of the sale of voting securities. See Annex 1.

About Oxurion

Oxurion (Euronext Brussels: OXUR) is engaged in developing next-generation standard of care ophthalmic therapies for the treatment of retinal disease. Oxurion is based in Leuven, Belgium. More information is available at www.oxurion.com.

Important information about forward-looking statements

Certain statements in this press release may be considered forward-looking. Such forward-looking statements are based on current expectations, and, accordingly, entail and are influenced by various risks and uncertainties. The Company therefore cannot provide any assurance that such forward-looking statements will materialize and does not assume any obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or any other reason. Additional information concerning risks and uncertainties affecting the business and other factors that could cause actual results to differ materially from any forward-looking statement is contained in the Company’s Annual Report. This press release does not constitute an offer or invitation for the sale or purchase of securities or assets of Oxurion in any jurisdiction. No securities of Oxurion may be offered or sold within the United States without registration under the U.S. Securities Act of 1933, as amended, or in compliance with an exemption therefrom, and in accordance with any applicable U.S. state securities laws.

For further information please contact:

Oxurion NVPascal GhosonChief Executive OfficerPascal.ghoson@oxurion.com Backstage CommunicationJurgen VluijmansPartnerjurgen@backstagecom.be

____

1. Article 14, first paragraph, of the Law of 2 May 2007 on disclosure of major holdings.

ANNEX 1

 

  • EN
  • OXUR Transparency Notification (NL) 20240328

Source: Oxurion NV

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