Sinead's Feed
Apr 1, 2015

Wall Street, dollar fall after private jobs data, oil up

NEW YORK (Reuters) – U.S. stocks fell for a second day and the dollar dipped after a weaker-than-expected report on private sector employment spurred investor concerns that a highly anticipated monthly U.S. jobs report on Friday could also point to slowing economic growth.

However, oil futures rallied as talks over Iran’s nuclear program continued, curbing expectations of an immediate deal that would allow Iranian crude on to the market. [O/R]

Mar 31, 2015

Euro posts record quarterly drop; Wall St ends day lower

NEW YORK, March 31 (Reuters) – The euro closed out the worst
quarter in its 15-year history on Tuesday, slammed by monetary
policy changes and worries about Greece, while U.S. stocks
retreated a day after posting big gains.

But the S&P 500 and the Nasdaq registered their ninth
straight quarterly gains.

The euro skidded 11 percent against the dollar in the first
quarter reflecting investors’ expectations of divergent monetary
policies. Investors are betting that the U.S. Federal Reserve
will raise interest rates this year, while the European Central
Bank’s one-trillion-euro economic stimulus program is weakening
the euro.

Mar 31, 2015

Wall St. earnings estimates may not foretell currency impact

By Sinead Carew

(Reuters) – Wall street analysts may be inadequately accounting for the dollar’s sharp rise in the first quarter, setting up a scenario in which some multinationals may miss already low consensus estimates – and their shares sell off as a result.

    Equity analysts admit they have had trouble keeping up with the dollar’s rapid 9 percent rise so far this year. While companies have issued forecasts mentioning “currency headwinds,” most Wall St. analysts are not updating their estimates to reflect those rapidly moving exchange rates.

Mar 31, 2015

Wall Street retreats, Euro heads for record quarterly drop

NEW YORK (Reuters) – U.S. stocks retreated on Tuesday from the previous session’s rally, though major indexes were headed for a positive first quarter, while the euro was on track for its biggest quarterly fall as worries about Greece kept the currency under pressure.

The European Central Bank’s one-trillion-euro economic stimulus program, launched this month, has weakened the euro and prompted investors to pile into euro zone shares on bets currency weakness, low borrowing costs and cheap oil will boost European companies’ profits.

Mar 22, 2015

U.S. multinationals set to face much more pain from strong dollar

NEW YORK (Reuters) – The surging value of the U.S. dollar may be posing the biggest threat to U.S. corporate earnings since the 2008 financial crisis, hurting results at most U.S.-based multinationals. Some on Wall Street are even talking about an earnings recession.

The dollar’s gain of 22 percent in the past 12 months against a basket of major currencies has landed a double whammy on U.S. companies with big sales abroad. Revenue and earnings from foreign markets are worth less when translated into greenbacks and their costs become relatively less competitive against rivals producing in countries with declining currencies.

Mar 22, 2015

Analysis – U.S. multinationals set to face much more pain from strong dollar

NEW YORK (Reuters) – The surging value of the U.S. dollar may be posing the biggest threat to U.S. corporate earnings since the 2008 financial crisis, hurting results at most U.S.-based multinationals. Some on Wall Street are even talking about an earnings recession.

    The dollar’s gain of 22 percent in the past 12 months against a basket of major currencies has landed a double whammy on U.S. companies with big sales abroad. Revenue and earnings from foreign markets are worth less when translated into greenbacks and their costs become relatively less competitive against rivals producing in countries with declining currencies.

Mar 19, 2015

Wall Street poised for slightly lower open

NEW YORK (Reuters) – U.S. stock index futures were down slightly on Thursday implying a lower opening for stocks after the Federal Reserve cut economic growth and inflation projections and indicated it was in no rush to hike interest rates.

U.S. stocks had ended up higher on Wednesday as investors, who had sold equities ahead of the meeting, were relieved by Fed Chair Janet Yellen’s dovish outlook.

Mar 17, 2015

Wall St falls as investors wait for Fed statement

March 17 (Reuters) – U.S. stocks pulled back on Tuesday from
a rally in the previous session ahead of a Federal Reserve
meeting that investors hope will bring insight on the timing of
an interest rate hike.

Investors held off on making big bets after the Federal Open
Market Committee kicked off its meeting, which will be followed
by a statement from Chair Janet Yellen Wednesday afternoon.

Mar 17, 2015

Wall St opens lower ahead of Fed meeting

March 17 (Reuters) – U.S. stocks pulled back on Tuesday from
a rally in the previous session ahead of a Federal Reserve
meeting that investors hope will bring insight on the timing of
an interest rate hike.

The Federal Open Market Committee is due to start a two-day
meeting on Tuesday and is expected to put out its statement and
projections on Wednesday afternoon.

Mar 17, 2015

Wall Street was set for lower open ahead of Fed meeting

By Sinead Carew

(Reuters) – U.S. stock index futures implied a lower open on Tuesday after a rally in the previous session and ahead of a Federal Reserve meeting that could give investors a gauge on the timing of an interest rate hike.

The Federal Open Market Committee is due to start a two-day meeting on Tuesday and is expected to put out its statement and projections on Wednesday afternoon.

    • About Sinead

      "Sinead is a telecommunications industry correspondent. Her coverage area spans U.S. service providers, cellphone makers and chip makers. Before joining Reuters in 2002, she covered technology and telecoms for various trade publications."
    • More from Sinead

    • Follow Sinead