Stocks Drop With Stimulus on Hold as Banks Tumble: Markets Wrap

(Bloomberg) — Stocks fell on speculation that their recent rally has outpaced prospects for a quick end to the stalemate over fresh economic stimulus. Treasuries and the dollar climbed.



A pedestrian wearing a protective face mask is reflected in an electronic stock board outside a securities firm in Tokyo, Japan, on Thursday, Sept. 17, 2020. Japanese stocks were set for their fourth straight weekly gain, the longest winning streak since November, as investors moved back in following this week’s central bank rate decisions at home and in the U.S.


© Bloomberg
A pedestrian wearing a protective face mask is reflected in an electronic stock board outside a securities firm in Tokyo, Japan, on Thursday, Sept. 17, 2020. Japanese stocks were set for their fourth straight weekly gain, the longest winning streak since November, as investors moved back in following this week’s central bank rate decisions at home and in the U.S.

Banks led losses in the S&P 500, with JPMorgan Chase & Co. and Citigroup Inc. sinking as investors worried that third-quarter results signaled just a pause in pain from soured loans. Johnson & Johnson slumped after temporarily halting its late-stage study of a coronavirus vaccine while Eli Lilly & Co. plunged as its trial of an antibody treatment for

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Stocks Drop With Stimulus on Hold as Banks Slump: Markets Wrap

(Bloomberg) — Stocks fell on speculation that a rally to a six-week high has outpaced prospects for a quick end to the stalemate over economic stimulus. Treasuries and the dollar climbed.



A pedestrian wearing a protective face mask is reflected in an electronic stock board outside a securities firm in Tokyo, Japan, on Thursday, Sept. 17, 2020. Japanese stocks were set for their fourth straight weekly gain, the longest winning streak since November, as investors moved back in following this week’s central bank rate decisions at home and in the U.S.


© Bloomberg
A pedestrian wearing a protective face mask is reflected in an electronic stock board outside a securities firm in Tokyo, Japan, on Thursday, Sept. 17, 2020. Japanese stocks were set for their fourth straight weekly gain, the longest winning streak since November, as investors moved back in following this week’s central bank rate decisions at home and in the U.S.

Banks led losses in the S&P 500 after JPMorgan Chase & Co. said its surprisingly-good reserve release didn’t reflect a better view of the economy and Citigroup Inc. reported a jump in costs. Tech shares outperformed as Amazon.com Inc. and Apple Inc. hold key events. Delta Air Lines Inc. tumbled as a decision to delay $5 billion

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GLOBAL MARKETS-Asian stocks set to rise as tech, stimulus hopes fuel global rally

By Suzanne Barlyn

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NEW YORK, Oct 12 (Reuters) – Asian stocks were set to rise on Tuesday as a renewed tech rally and fresh optimism that Washington would deliver a coronavirus relief package helped lift global equity markets.

Shares in Apple Inc surged 6.4% on Wall Street on Monday ahead of an expected debut of its latest iPhone on Tuesday, helping boost technology stocks, while Amazon rallied 4.8% ahead of its Prime Day shopping event this week.

CommSec Senior Economist Ryan Felsman said a COVID-19 resurgence in Europe and the United States is partly fueling the tech rally.

“Once again, there is a desire to hold the stay-at-home types of technology stocks…which will still generate profits and will be greatly oriented to a more challenging economic environment,” Felsman said.

On Wall Street, the Nasdaq Composite on Monday staged its biggest one-day rally in a month, jumping 2.56%. The

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Asian stocks set to rise as tech, stimulus hopes fuel global rally

NEW YORK (Reuters) – Asian stocks were set to rise on Tuesday as a renewed tech rally and fresh optimism that Washington would deliver a coronavirus relief package helped lift global equity markets.

FILE PHOTO: A worker wearing a protective mask walks as he cleans the floor past an electronic board displaying the stock market index at the Indonesia Stock Exchange (IDX),in Jakarta, Indonesia, September 8, 2020. REUTERS/Willy Kurniawan

Shares in Apple Inc surged 6.4% on Wall Street on Monday ahead of an expected debut of its latest iPhone on Tuesday, helping boost technology stocks, while Amazon rallied 4.8% ahead of its Prime Day shopping event this week.

CommSec Senior Economist Ryan Felsman said a COVID-19 resurgence in Europe and the United States is partly fueling the tech rally.

“Once again, there is a desire to hold the stay-at-home types of technology stocks…which will still generate profits and will be

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Dow gains 251 points as tech giants rally and stimulus hopes persist


  • US stocks rose on Monday as Democrats and Republicans inched closer to a stimulus compromise.
  • Mega-cap companies including Apple and Amazon led indexes higher as investors rushed to the growth favorites.
  • President Trump urged Republicans to speed up Amy Coney Barrett’s confirmation to the Supreme Court so that they can pass a new stimulus bill before Election Day.
  • Investors also prepared for earnings season. Citigroup and JPMorgan are set to kick off reporting on Tuesday.
  • Oil futures sank as operations temporarily halted by Hurricane Delta resumed. West Texas Intermediate crude fell as much as 3.8%, to $39.04 per barrel.
  • Watch major indexes update live here.

US equities extended their rally into a new week as investors pushed tech giants higher.

Apple surged ahead of a Tuesday event widely expected to unveil the next generation of iPhones. Amazon climbed as it kicked off its Prime Day sale

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Tech stocks extend Wall Street rally on stimulus hopes

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(Reuters) – Wall Street’s main indexes rose for a fourth straight session on Monday, helped by a tech boost and on optimism that Washington would reach a deal over more fiscal support, with investors also gearing up for the third-quarter corporate earnings season.

Apple Inc was a major support for the three main stock indexes with a 3.6% gain ahead of a special event on Tuesday, which most analysts believe will be used to unveil the new iPhone with 5G capabilities.

Amazon.com Inc climbed 3.5% ahead of its annual Prime Day shopping event on Oct. 13 and 14.

The Trump administration on Sunday called on Congress to pass a stripped-down coronavirus relief bill as negotiations on a broader package ran into resistance.

“The widening lead for the Democrats lessens the likelihood of

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The Capital Letter: Stimulus Politics, Trade Deficits, Big Government & Big Tech

(James Lawler Duggan/Reuters)

The politics of stimulus, trade deficits, big government and big tech and more.

Call me crazy, but I’m not convinced that the latest round of talks on a new stimulus package are going as well as they might be.

Bloomberg:

President Donald Trump and House Speaker Nancy Pelosi questioned each other’s mental faculties, showcasing increasing partisan tensions as Election Day looms.

“The president is, shall we say, in an altered state right now, so I don’t know how to answer for his behavior.,” Pelosi said in an interview on Bloomberg Television Thursday.

The Democratic leader also called Trump’s changing positions this week on whether to let his administration conduct talks on fiscal stimulus “strange.” Trump pulled his team from negotiations Tuesday, prompting Pelosi to suggest to colleagues that day that Trump’s thinking might have been affected by the steroids he’s taken to battle his Covid-19,

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Stocks Climb Again on Wall Street With Hopes for Stimulus | Business News

By STAN CHOE, AP Business Writer

NEW YORK (AP) — Stocks are rising on Wall Street Thursday as hope remains that Washington can approve more aid for the economy and after a report suggested the pace of layoffs is slowing a bit, though it remains incredibly high.

The S&P 500 was 0.6% higher in early trading, tacking more gains onto Wednesday’s rise after President Donald Trump apparently backtracked on his decision to halt talks on more aid for the economy. He said in a televised interview Thursday morning that “very productive” talks have begun on stimulus.

Other U.S. and global stock indexes were also higher, but the last few weeks of trading have shown repeatedly that early gains for the market don’t always last. Stocks have been particularly rocky since early September, swerving on worries about everything from too-expensive prices to the still-raging pandemic, but the index has been generally

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EMERGING MARKETS-Thai shares gain for fourth day on stimulus push; Philippines steadies

    * Thai benchmark index hits highest since Sept. 21
    * Most currencies edge up as U.S. dollar nurses losses
    * Chinese markets reopen after a week-long holiday on Friday

    By Shruti Sonal
    Oct 8 (Reuters) - Thai stocks climbed 1% on Thursday as the
government outlined measures to boost consumption in its
coronavirus-battered economy, while a late recovery helped
Philippine shares edge up in tandem with gains in most of Asia's
emerging markets.
    The safe-haven U.S. dollar nursed losses after the revival
of hopes for some stimulus spending in the world's biggest
economy improved investor sentiment, supporting local currencies
in Asia, which edged higher. The Taiwan dollar was
again the main standout, rising almost 1%.
    Thailand's benchmark index hit its highest in more
than two weeks after officials on Wednesday added a tax
deduction on purchases of goods and services to previously
announced cash handouts and subsidies.
    The tourism-reliant economy 
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EMERGING MARKETS-Thailand gains after govt adds tax deduction to stimulus push

By Shruti Sonal

Oct 8 (Reuters)Thai stocks climbed nearly 1% on Thursday as the government took measures to boost consumption in its coronavirus-battered economy, leading gains across a handful of Asia’s big emerging markets.

With markets globally eyeing a tumultuous U.S. election campaign and roadblocks in passing stimulus in the world’s biggest economy, currencies across the region were subdued, with the Taiwan dollar again the main standout, rising almost 1%.

Thailand’s benchmark index .SETI hit its highest in over two weeks after officials added a tax deduction on purchases of goods and services to cash handouts and subsidies announced last month.

Deputy Prime Minister Supattanapong Punmeechaow said altogether the measures would push about 200 billion baht ($6.4 billion) into the economy in the last three months of this year.

The tourist-heavy economy has started receiving its first visitors this week after months of travel curbs and its

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