Wall Street closes lower as the Fed pounds rate hike drum

Oil prices add to inflation woes post-OPEC+ output cut US weekly jobless claims increase more than expected Oct 6 (Reuters) – Wall Street’s major indexes closed lower on Thursday as concerns mounted ahead of closely watched monthly nonfarm payrolls numbers that the Federal Reserve’s aggressive interest rate stance will lead to a recession. Markets briefly … Read more

Analysis: World central banks caught in the Fed’s slipstream

Central banks forced to follow Fed or face backlash UK, Japan, emerging countries intervene to stem rout Prospects of coordination are slim Investors hope for ‘Fed pivot’ FRANKFURT, Oct 6 (Reuters) – The world’s central bankers are caught up in a race to curb inflation that only the Federal Reserve can stop. The US central … Read more

Hurricane Fiona helps to boost US weekly jobless claims

Weekly jobless claims increase 29,000 to 219,000 Continuing claims rise 15,000 to 1,361 million Announced job cuts jump 46% to 29,989 in September WASHINGTON, Oct 6 (Reuters) – The number of Americans filing new claims for unemployment benefits increased by the most in four months last week, but the labor market remains tight even as … Read more

Stocks rebound, oil up again as market eyes higher jobless data

WASHINGTON/LONDON, Oct 6 (Reuters) – US stocks looked set to mount a comeback after new economic data suggested a tightening labor market, while oil treaded water after announced big supply cuts from OPEC+. US stocks erased early losses to start the day in positive territory after the US Labor Department reported more Americans filed new … Read more

SNAPSHOT Wall Street opens lower on fears of aggressive rate hikes

Oct 6 (Reuters) – Wall Street’s main indexes opened lower on Thursday amid worries of inflation and the Federal Reserve’s aggressive tightening cycle, while investors assessed data showing an increase in weekly jobless claims. The Dow Jones Industrial Average (.DJI) fell 67.7 points, or 0.22%, at the open to 30206.13. The S&P 500 (.SPX) fell … Read more

Trading platform CMC sees higher half-year profit on market volatility

Sees interim net operating income ahead of last year Market volatility drives client trading activities Annual operating costs remain unchanged Oct 6 (Reuters) – CMC Markets Plc (CMCX.L) said on Thursday it expects its interim profit to be ahead of last year, as volatile stock and foreign exchange markets led investors to throng the online … Read more

Morning Bid: Runaway oil | Reuters

A look at the day ahead in European and global markets from Anshuman Daga Just when stock markets seemed to be regaining their footing after a wild third quarter – beset by rising interest rates and the dollar’s runaway gains – there’s more trouble brewing. This time, oil prices are to blame. Register now for … Read more

Dollar’s blistering rally to extend into next year: FX analysts in Reuters poll

BENGALURU, Oct 6 (Reuters) – The unstoppable dollar, which is already having a banner year, is likely to extend its dominance beyond 2022, according to a Reuters poll of foreign exchange strategists who said the currency was still some distance from an inflection point . Up over 16% so far in 2022, the dollar index, … Read more

Oil extends gains after OPEC+ agrees to slash crude output

OPEC+ agrees oil production cuts, Biden calls it shortsighted US crude and fuel stockpiles down last week – EIA Russia may cut oil output if price caps are introduced – Novak SINGAPORE, Oct 6 (Reuters) – Oil prices rose for a fourth session on Thursday, with Brent at a three-week high, after OPEC+ agreed to … Read more