Centralised attachment of earnings payment system

This will be a big week for the retail sector, with fresh data and earnings due. On Tuesday, the Commerce Department is likely to show retail sales were up 0.8% in April, following a 0.6% gain the month before. The data comes after the University of Michigan’s Consumer Sentiment Index slumped to its lowest level in nearly 11 years in May, as worries about inflation persist. Also on Tuesday, Walmart is expected to report a fall in first-quarter profit, hurt by higher shipping and other supply chain costs. On Wednesday, Target is similarly expected to report a fall in first-quarter earnings hurt by higher shipping, warehousing and labor costs. Comments on consumer demand and inflation will also be in focus. Home improvement chains Home Depot and Lowe’s will post their results on Tuesday and Wednesday, respectively. Analysts are projecting a decline in first-quarter revenue as higher mortgage rates and prices weigh on customers. So far this year, Walmart ( WMT ) shares are … [Read more...] about Markets to Focus on Retail Stock Earnings

U.S. equity markets wavered to begin the new month, reflecting investors' uncertainty over issues ranging from the impact of corporate earnings to how Fed rate hikes will shape the economy this year. UPS Inc. ( UPS ) is the best-performing stock in the S&P 500 on its earnings news. Better-than-expected earnings are also lifting shares of Exxon Mobil Corp. ( XOM ). That’s boosting shares of other energy companies as well. Shares of cruise lines, airlines, and other travel-related companies are advancing on decreasing omicron variant case numbers. Key Takeaways U.S. equity markets wavered to begin the new month, with all three major indexes fluctuating between green and red. The quit rate fell for the first time since Dec. 2020. Ups and downs reflect investors' uncertainty over issues ranging from the impact of corporate earnings, Fed rate hikes, and ongoing supply chain and pandemic concerns. The yield on the 10-year Treasury note has widened and narrowed … [Read more...] about Stocks Fluctuate to Begin Month as Investors Digest Data, Earnings

U.S. stocks again started the day mixed after a report said that U.S. retail and food services fell more than expected last month. Investors are also digesting a slew of quarterly earnings reports from banks, as JPMorgan Chase & Co. ( JPM ) and Citigroup Inc. ( C ) recorded income declines, while Wells Fargo & Company ( WFC ) said that profit jumped. The Dow Jones Industrial Average (DJIA) and the S&P 500 are poised to finish the week lower, while the Nasdaq may end up higher for the week. All three major indexes finished lower yesterday. Key Takeaways Stocks are mixed again this morning, with the Nasdaq gaining and the Dow and S&P 500 falling. Retail and food sales sank 1.9% in December, marking the biggest drop in 10 months. JPMorgan and Citigroup reported falling quarterly profit, while Wells Fargo reported fourth quarter profit that beat analysts' forecasts. The University of Michigan will release its Consumer Sentiment Index for … [Read more...] about Stocks Mixed as Retail Sales Drop Most in 10 Months

Stocks fell, with the three major U.S. indexes poised to close lower for the week, as major banks kicked off the fourth quarter earnings season with mixed results and December retail sales were lower than expected. Key Takeways Stocks are lower with the Dow, S&P 500, and Nasdaq poised to drop for the week. Retail and food sales sank 1.9% in December, the biggest drop in 10 months. Banks reported mixed earnings, and JPMorgan is the worst-performing Dow and S&P 500 stock after it reported trading revenue fell. Banks and Retail Stocks Fall, Energy Gains The Dow is down more than 300 points, nearly a full percent, and the S&P 500 is about 0.5% lower. The Nasdaq's earlier gains have reversed and that index is down about 0.2%. JPMorgan Chase & Co. ( JPM ) is the worst-performing stock in both the Dow and S&P 500 after reporting a fourth-quarter loss, and net interest margin that came in below analysts' consensus estimates. Shares of … [Read more...] about Stocks Fall as Bank Shares Drop and December Retail Disappoints

On Saturday, the Group of Seven (G-7) industrialized nations agreed on a 15% global minimum corporate tax as a way to prevent companies from avoiding taxes by parking profits overseas. The G-7 finance ministers meeting was held in London. Key Takeaways The G-7 group of financial leaders from seven industrialized nations agreed that a 15% global minimum corporate tax rate should be enacted. A global minimum corporate tax rate has been proposed as a way to stop a race to the bottom as companies seek to avoid paying taxes by stashing profits in countries with the lowest possible tax rates . On her way back from that meeting, U.S. Treasury Secretary Janet Yellen said higher interest rates would be a “plus” for the American economy. The meeting precedes an annual summit of G-7 leaders scheduled for June 11 to 13, 2021, in Cornwall, England. There will also be wider talks with 140 countries in Paris, and the Group of 20 finance ministers will be meeting in July, where … [Read more...] about G-7 Agreed on a 15% Global Minimum Corporate Tax

U.S. equity markets are mixed following strong earnings from Amazon.com, Inc. ( AMZN ) that lifted the Nasdaq while a blowout jobs report pushed bond yields higher by fueling fears of bigger interest rate hikes by the Federal Reserve. Key Takeaways Tech shares are rising, boosted by Amazon and Snap, as the Nasdaq aims for its first weekly gain this year. A blowout jobs report pushed bond yields higher by fueling fears of bigger interest rate hikes by the Federal Reserve. Crude oil's price surge continued, with the price crossing $93 per barrel. The Nasdaq , helped by Snap Inc. ( SNAP ) and Amazon, is set for its first weekly close higher this year. The S&P 500 is also higher, while the Dow Jones is little changed. The yield on the 10-year Treasury note is skyrocketing nine basis points (BPS) to 1.92% after the Labor Department reported that many more jobs were created in January than expected (more below). That's prompting speculation that … [Read more...] about Markets Mixed as Amazon, Snap Fuel Tech, Dow Drops on Rate Worries

Federal Reserve President Jerome Powell told Congress while the Fed still plans to hike interest rates to combat inflation, the economic impact from the invasion of Ukraine remains “highly uncertain,” and policymakers will need to be “nimble” in responding to new information. Key Takeaways Stocks are moving higher, gaining back ground lost yesterday, despite the Federal Reserve saying interest rates will move higher this month. ADP reported private-sector jobs jumped more than anticipated last month. Ford, Chevron, Hewlett-Packard Enterprises, and AutoZone are among companies gaining today. Solid economic and corporate news is edging stocks higher. All three major indices are up more than 1%, clawing back some of yesterday's losses. Almost all of the stocks in the Dow are rising. Shares of Chevron Corp. ( CVX ) and other energy companies are higher as the fighting in Ukraine increases concerns about disruptions in oil supplies. Oil futures reached the highest … [Read more...] about Market Wrap: Powell Sticks to Rate Hike, Ford Announces EV Move, AutoZone Soars

Stocks fell further this afternoon as the Fed's James Bullard said he'd like to see rates a full percentage point higher by July. Bullard backs at least a half-point hike on the way to a full point gain before July, the Federal Reserve Bank of St. Louis president told Bloomberg News in an interview today. Bullard votes on monetary policy. Key Takeaways Stocks fell further this afternoon as the Fed's James Bullard said he'd like to see rates a full percentage point higher by July. Stocks had been pulling back from the morning's steep declines as strong corporate earnings from Walt Disney and Mattel partially offset stronger-than-expected inflation data. The Consumer Price Index report released today revealed an annual inflation rate of 7.5%, higher than expected and the largest increase in 40 years. Bond yields rose to their highest since July 2019. Today's Market Movers Stocks had pulled back from the morning's steep declines, with some indexes moving … [Read more...] about Stocks’ Decline Steepens on Bullard’s Rate Hike Comments, Inflation Data

Stocks are falling after hiring in January blew past expectations, raising concerns that the Federal Reserve will lift interest rates aggressively to prevent the economy from overheating. The U.S. added 467,000 jobs last month, the Labor Department reported today. That crushed economists' expectations for 150,000 hires, driving stocks lower despite Amazon.com, Inc. ( AMZN ) gaining after a solid earnings report . Key Takeaways Stocks are falling for a second day after January hiring crushed expectations and raised concerns that the Federal Reserve will lift interest rates aggressively. Amazon is gaining around 10% and Snap more than 40% after reporting solid earnings growth. The yield on the 10-year Treasury note jumped past 1.9%, its highest in more than a year. Crude oil soared past $90 per barrel. The Dow Jones Industrial Average , S&P 500 , and Nasdaq indexes are all lower, following big declines in each yesterday. Crude oil soared past $90 per … [Read more...] about Stocks Drop as Blowout Jobs Report Increases Rate-Hike Jitters

U.S. equity markets are continuing their rally as solid corporate earnings boost investor optimism. Chipotle Mexican Grill, Inc. ( CMG ) and Yum! Brands, Inc. ( YUM ) gained, as the Dow and Nasdaq are both up about 200 points. Key Takeaways U.S. stocks are higher, with the Nasdaq and S&P 500 each gaining more than 1% as solid corporate earnings boost investors' confidence. Investors are awaiting an earnings report from The Walt Disney Company ( DIS ). Crude oil reversed its earlier decline and is back above $90 per barrel. Bond yields declined. Better-than-expected financial reports from restaurant chains Chipotle and Yum!, along with food sciences firm FMC Corporation ( FMC ), are sending their shares higher. Shares are rising for media companies after Omnicom Group Inc. ( OMC ) reported profit that beat forecasts, and its shares are trading near all-time highs. Tech stocks are powering the Nasdaq's 1.5% gain. Meta Platforms, Inc. ( FB) shares … [Read more...] about U.S. Stock Surge Continues as Chipotle, Tech Shares Drive Gain