Stocks Close Out Losing Week, Month and Quarter Major stock benchmarks declined more than 1% Friday as investors considered consumer-spending figures and the Federal Reserve's preferred inflation gauge. OPEC+ to Weigh Production Cut to Bolster Oil Prices The group is considering an output reduction of 1 million barrels a day, its biggest cut since the pandemic began, as the economic slowdown hurts demand. Japan Large Manufacturers' Sentiment Weakens Sentiment among Japan's large manufacturers deteriorated in the three months to September, the third straight quarter it has worsened, amid lingering concerns over supply shortages. U.K.'s Central Banker Faces Inflation, a Financial Crisis and His Own Government Bank of England Gov. Andrew Bailey intervened in bond markets to avert market turmo

U.S. stocks kicked off the fourth quarter with strong back-to-back gains earlier this week, with the $S&P 500 index(.SPX.US)$ jumping more than 5.7% off its 2022 low, helping investors claw back some of its crushing 9.3% loss in September. However, strategists warn the strong rally to start the quarter doesn't mean investors are out of the woods yet, particularly with Friday's employment report for September likely to offer important guidance to the Federal Reserve at its next policy meeting in early November. Lindsey Bell, chief markets and money strategist at Ally, thinks the data may offer a glimpse of the short-term direction for equities. Friday's employment report is expected to show the economy added 275,000 jobs for the month, compared with 315,000 new positions added

By Eric J. SavitzThe tech sector has a lot on the line in the midterm elections.Two years into the term of President Joe Biden, Big Tech has come under pressure from the White House, Congress, and regulatory agencies -- which are all trying to rein in its power.So far, there haven't been any major legislative changes: the push to rewrite antitrust regulations haven't resulted in new laws; there hasn't been any new privacy legislation; and no revisions have been made to Section 230, the measure which protects social media companies from risk of litigation for material created by users.At the same time, the tech sector did get a big win in the CHIPS and Science Act, which provides substantial government funding for construction of new chip fabs.Political pundits think the Republican Party is

SPDR S&P 500 ETF(SPY.US) 357.740358.240 -0.63%+0.14%Post Billionaire investor Ray Dalio has warned of a "perfect storm" that will spread economic pain as the U.S. Federal Reserve hikes interest rates and said government stimulus programs during the COVID-19 pandemic had created a bubble. What Happened: "The Fed and the government together gave enormous amounts of debt and credit and created a ... giant lurch forward and created a bubble. Now they're putting on the brakes. So now we're going to create a giant lurch backward," Dalio, who founded the world's largest hedge fund Bridgewater Associates and recently relinquished control of it, said at the Greenwich Economic Forum, according to a Reuters report. Dalio also said domestic tension in t

Microsoft(MSFT.US) 232.900 233.790 -1.94% +0.38% Post Sony(SONY.US) 64.050 64.050 -1.57% 0.00% Post With a market capitalization of over $2 trillion, Microsoft Corporation (NASDAQ:MSFT) is one of the largest companies in the world. The company has many units of business, but one of its most well-known products almost didn't exist, thanks to co-founder Bill Gates not believing in the story. Here's how the Xbox almost didn't see the light of day. What Happened: The Xbox segment of Microsoft is a $16 billion annual business today, but almost was never part of Microsoft's history. A story from IGN from several years ago is making the rounds again showing a meeting between Microsoft executives where Gates branded the Xbox an "insult" and tried to block its launch. The meeting has been know

With many more options available these days, which should you pick to grow your money in the long run? Savers are finally having their time in the sun. After enduring more than two decades of ultra-low interest rates, banks are finally starting to raise rates on their savings and fixed deposit accounts. Meanwhile, the latest issue of the Singapore Savings Bond (SSB) is offering an attractive first-year interest of 3.26% for its first year. With banks set to raise their deposit rates even further in line with the US Federal Reserve’s aggressive rate hikes, should investors start shifting their money from stocks to cash? Is it a wiser choice to park your money in such “safe” instruments over the long term? A comparison of rates and returns As a starting point, it’s useful to compare the

Jerome Powell's Inflation Whisperer: Paul VolckerAiming to reduce inflation even at the risk of recession, the Fed Chairman draws on a 1980s playbook. "We must keep at it until the job is done."Stocks Wobble as Investors Await Fed Meeting This WeekU.S. stock benchmarks swung between small gains and losses to kick off the trading week, as investors looked ahead to the Fed's interest-rate decision Wednesday and fretted about the health of the U.S. economy.Global Trade Flows Fall, Signaling SlowdownAn early indicator of trade flows developed by The Wall Street Journal pointed to a 2.8% fall in July, an indication that global demand for goods is slowing as high energy prices and rising interest rates weaken household spending power.Rising Bond Yields Change the Calculus for StocksWhether marke

Benzinga Real-time News· 39 mins ago 2mins SPDR S&P 500 ETF(SPY.US) 379.980377.460 -0.53%-0.66%Post Vanguard Bd Index Fund Inc Total Bond Market Etf(BND.US) 70.71070.500 +0.53%-0.30%Post U.S. Treasury Secretary Janet Yellen said on Thursday that new GDP data indicates strength in the U.S. economy but also some signs of a healthy slowdown which could have a positive impact on taming high inflation, reported Reuters. Yellen was speaking to reporters on her trip to Cleveland to tout the Biden administration's economic policies. On Recession: The Treasury Secretary said she still does not expect a recession, but the U.S. government possesses the fiscal capacity to respond to economic weakness, if appropriate, according to the report. The U.S. economy grew 2.6% in the th

Tesla(TSLA.US) 223.070223.800 -6.32%+0.33%Post Ford Motor(F.US) 12.20012.170 -1.29%-0.25%Post Amazon(AMZN.US) 114.560114.550 -4.77%-0.01%Post Rivian Automotive(RIVN.US) 33.95033.650 -7.64%-0.88%Post Rivian Automotive, Inc.'s (NASDAQ:RIVN) otherwise good week ended with some bad tidings for the electric vehicle manufacturer. What Happened: Rivian announced a voluntary recall of the EVs it delivered to customers after it identified issues with a fastener, according to a letter sent by CEO R.J. Scaringe to customers, which Benzinga has viewed. In rare circumstances, the nut could loosen fully, he added. "While we've only seen seven reports potentially related to this issue across our fleet to data, even one is too many," he added. Beginning in the fourth quarter of 2021, t

It's Jobs Day. Whatever the Market Says, Fed's Still Bullish on Economy S&P 500 index(.SPX.US) 4071.700 -0.12% The Kroger(KR.US) 47.57047.900 -1.74%+0.69%Post Amazon(AMZN.US) 94.13094.000 -1.43%-0.14%Post It's been a busy week for economic data and Federal Reserve speakers. As we cap it off with jobs and wages on Friday, the picture hasn't changed much. The Fed's preferred inflation gauge, which strips out volatile food and energy costs, slowed a little but is still too high. But consumer spending, also included in the PCE report, was the strongest since June in October and personal incomes are still rising. That's a bullish signal for the central bank. Fed Chairman Jerome Powell on Wednesday signaled that he's comfortable with a smaller interest-rate increase this month than the run o