Search

News

Asian markets fall on fears of Pelosi visit
... Seoul, Singapore, Wellington and Jakarta were well down. The safe-haven yen jumped to a two-month high against the dollar and the Taiwan dollar dropped 0.7 percent, as the safe-haven yen jumped to a two-month high against the dollar. Stephen Innes , SPI Asset Management said that the risk is mounting. As Pelosi is almost certain to visit Taiwan on Tuesday, now it is in China's hands to see if the situation escalates, he said, while international and Taiwan investors are pretty concerned that the risk of mishap ...
Updated: 08/02/2022
Stock-index futures fall after Wall Street finished best month since 2020
..., the S&P 500 jumped 9.1% and the Nasdaq surged 12.3%, according to Dow Jones Market Data . It was the best month for the Dow and S&P 500 since November 2020, and the best month for the Nasdaq since April 2020. Stephen Innes, managing partner at SPI Asset Management , said in a note on Sunday that dovish messaging from the FOMC and better than feared corporate earnings have supported equities. Earning beats have been average at best, but the lack of fireworks means boring is beautiful. With slowdown fears ...
Updated: 08/01/2022
Wall Street shrug off inflation data, big-tech earnings
... modestly attractive here. Equities are an optimist's game, and this bullish narrative may have some legs. Nicholas Colas, Co-founder of DataTrek, said that we are more cautious and in the realist camp at the moment. Stephen Innes , managing partner at SPI Asset Management , said that the positive mood in global equities was weaker than expected U.S. GDP numbers, which were seen reducing the pace of Federal Reserve interest rate rises. Yes, bad news is good! Fed Chair Powell said the next hike will be data-dependent; ...
Updated: 07/29/2022
US stock futures rise on hopes for slower Fed pace
... modestly attractive here. Equities are an optimist's game, and this bullish narrative may have some legs. Nicholas Colas , co-founder of DataTrek , said that we are more cautious and in the realist camp at the moment. Stephen Innes , managing partner at SPI Asset Management, said that adding to the positive mood in global equity markets was Thursday s weaker than expected U.S. GDP numbers, which were seen reducing the pace of Federal Reserve interest rate rises. The bad news is good! Powell said that the next ...
Updated: 07/29/2022
World shares fall as traders await Fed's next steps
... highest-profile report. While rising jobless claims, softer home sales and a buildup in gasoline inventory show that the Fed front-loading rate hikes are causing a slowdown and bringing inflation under control, the issue is at what cost, Stephen Innes of SPI Asset Management said in a commentary. Some economists predict that it will show a contraction for the second quarter in a row. The economy fell by 1.6% in the January-March quarter. In this case, economists think that's misleading, because two straight negative ...
Updated: 07/25/2022
US stocks soften ahead of earnings, Fed action
... Tuesday. The S&P 500 is down 16.9% for the year to date, but has climbed 8% from its 52 week low in mid-June, with sentiment underpinned by a corporate reporting season that has proved better than some had feared. Stephen Innes, managing partner at SPI Asset Management , said the Earnings season has been mixed, but boring is beautiful. John Butters , senior earnings analyst at FactSet, said that the second quarter earnings growth rate for the benchmark index is 4.8%, with 21% of S&P 500 companies having reported....
Updated: 07/25/2022
Stocks rise on strong US data
... made it clear that their main goal is to bring inflation down from a four-decade high. The robust US data eased concerns about an imminent recession but is unlikely to mount an additional case for a 100 basis point Fed hike, said Stephen Innes , SPI Asset Management's chief financial officer. It was about as goldilocks of a mix of headline data risk as one could have expected given the Fed 's dilemma of balancing inflation and growth. Traders are keeping an eye on the European Central Bank's next policy ...
Updated: 07/18/2022
Gold prices rise on Fed rate hike bets
... year last week, after falling to 91 per ounce by 0453 GMT . US gold futures gained 0.5% to $1,712. The dollar was off its near 20 year high last week, making it less expensive for buyers holding other currencies. Stephen Innes , managing partner at SPI Asset Management , said the market walked back the idea of a 100-bp rate hike after Friday's University of Michigan inflation component came in softer. Consumers are seeing inflation run at 2.8% over a five-year horizon, the lowest in a year, and down from ...
Updated: 07/18/2022
Sort by relevance | Sorted by date