Quincy Krosby News

Earnings season typically is the time when investors can look past macroeconomic forces and focus on company-specific news moving stocks. This quarter, however, is turning out to be anything but typical. Individual shares have, of course, reacted to earnings announcements in the week or so since Corporate America started reporting results. But conflict in the Middle East and surging Treasury yields are taking precedence, causing S&P 500 Index constituents to increasingly move in unison as global events sway markets broadly. In four of the six trading sessions since the reporting cycle kicked off on Oct. 13, at least 400 members in the S&P 500 have moved in the same direction. It’s a frequency that didn’t appear once in comparable weeks the past three earnings periods. Such concerted moves — up and down — are further complicating the lives of stock pickers in a year when they’ve had little luck, with only 37% of large-cap active managers outperforming their benchmarks as of the end of September, data compiled by Bank of America Corp. show. “Macro is dominating the narrative again,” Quincy Krosby, chief global strategist at LPL Financial, said by phone. “The situation in the Middle East obviously weighs on sentiment.”

By Caroline Valetkevitch

Federal Reserve Bank of Chicago President Austan Goolsbee provides insight on the state of the U.S. economy on 'Making Money.'

Quincy Krosby, Financial Chief Global strategist, discusses consumer spending, the labor market and inflation data.

Global market update: US stock market edged higher on Friday on resilience in the national economy even though investors await the key US inflation data expected next week. Dow Jones index added 0.22 per cent whereas tech heavy weight Nasdaq added 0.09 per cent. S&P 500 index gained 0.14 per cent.

dollar edged lower but was on track for an eighth straight week of gains on Friday while global stock indexes advanced as Wall Street rose with Apple shares. The dollar index's weekly winning streak would be its longest since 2014, bolstered by recent reports showing the U.S. economy remains resilient. In contrast, the Chinese yuan fell to its weakest level since 2007 amid concern about China's slowing economy. Strong U.S.

Stocks declined, while Treasury yields climbed after a stronger-than-estimated reading on the US services industry bolstered speculation the Federal Reserve will keep interest rates higher for longer.

dollar strengthened further against major currencies as investors increased bets for further Federal Reserve policy tightening. The Bloomberg dollar index rose to a fresh six-month high as investors increased expectations for the Fed to hike again this year. Treasury yields drifted higher across the curve Thursday, extending Wednesday increases that pushed two-year yields above 5%.

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producer price index, which measures inflation before it hits consumers, rose 0.8% last month from July 2022. The latest figure followed a 0.2% year-over-year increase in June, which had been the smallest annual rise since August 2020. While modest, the increase in wholesale prices last month could help persuade the Federal Reserve that its work on bringing inflation to heel isn’t done.

Nasdaq Composite down for a second straight day as investors took profits on five months of gains a day after rating agency Fitch cut the U.S. government's credit rating. Fitch downgraded the United States to AA+ from AAA late on Tuesday, citing expected fiscal deterioration over the next three years as well as growing government debt.

Nasdaq after a report showed inflation subsided further with consumer prices registering their smallest annual increase in more than two years. The data underscored expectations the Federal Reserve may let interest rates stand after one more 25 basis point hike expected at its July policy meeting. Shares of big tech-related companies, which tend to be sensitive to higher interest rates, gave the S&P 500 its biggest boost.

By Caroline Valetkevitch

While the benchmark S&P 500 has gained nearly 15% year-to-date driven by a handful of megacap growth and technology names, some sectors have lagged, including the S&P 500 healthcare, which is down 4.7%. The financials sector is down 2%, while energy is nearly 9% lower. These unloved sectors are growing attractive to investors increasingly torn over whether a long-feared U.S.

Wall Street's main indexes ended lower on Friday in a seesaw session, as investors digested a U.S. jobs report that showed weaker-than-expected growth and awaited more economic data and corporate earnings in the weeks ahead. The U.S.

By Sinéad Carew

Wall Street investors believe the stock market is headed for losses after a positive first quarter, seeing cash as the best safe haven right now, according to the new CNBC Delivering Alpha investor survey.

When the Federal Reserve starts to raise interest rates, it generally keeps doing so until something breaks, or so goes the collective Wall Street wisdom.

It was a year ago this month that the Federal Reserve launched its first attack against inflation that had been percolating in the U.S. economy for at least the previous year.

Stock futures were flat in overnight trading after the major averages finished another losing week.

After years of being a beacon for financial markets, the Federal Reserve suddenly finds itself second-guessed as it tries to navigate the economy through a wicked bout of inflation and away from ever-darkening recession clouds.