Blue-chip stocks saw a third day of losses on Monday as Wall Street's slump continued amid doubts about interest rate cuts, as investors looked ahead to high-stakes Nvidia (NVDA) earnings and the delayed September jobs report. The tech-heavy Nasdaq Composite (^IXIC) erased modest gains to fall over 0.8%, while the S&P 500 (^GSPC) dropped 0.9%. The Dow Jones Industrial Average (^DJI) also slipped around 1.2%, or more than 550 points. Wall Street is already getting set for Nvidia's (NVDA) earnings on Wedn ...

By Howard Schneider WASHINGTON (Reuters) -Federal Reserve Vice Chair Philip Jefferson said on Monday the U.​S. central bank needs to "proceed slowly" ‌with any further interest rate cuts as it eases policy towards a level ‌that would likely stop putting downward pressure on inflation. In remarks prepared for delivery at a Kansas City Fed event, Jefferson said he agreed the central bank's quarter-percentage-point rate cut last ⁠month was appropriate, ‌given increased risks to the job market and the likeli ...

Core Viewpoint - The S&P 500 Index and its ETFs, such as SPY, IVV, and VOO, are trading within a narrow range close to their all-time highs as investors respond to decreasing expectations for interest rate cuts in upcoming meetings [1] Group 1 - The S&P 500 Index remains near all-time highs, indicating strong market performance [1] - ETFs like SPY, IVV, and VOO are closely tracking the S&P 500 Index, reflecting investor sentiment [1] - Investor reactions are influenced by the changing outlook on interest rate cuts, which are now seen as less likely in the near term [1]

Core Insights - The article compares two growth stocks in Singapore: iFAST Corporation, a fintech platform, and Singapore Exchange (SGX), a blue-chip exchange operator, highlighting their growth potential and market positions as interest rates are expected to fall by 2026 [1][8]. iFAST Corporation - iFAST has transitioned from a fund distribution platform to a digital wealth infrastructure player, achieving a net revenue growth of 39.9% year-on-year to S$89.53 million and a net profit increase of 54.7% year-on-year to S$26 million for 3Q 2025 [2]. - The company's assets under administration (AUA) reached an all-time high of S$30.62 billion, growing 29.6% year-on-year [2]. - iFAST's profit before tax margin improved to 34.5% for 9M 2025, up from 22.6% in 2023 and 33.5% in 2024, indicating a new phase of profitability [3]. - Recent initiatives include the introduction of payment services and the approval to operate as an Electronic Money Issuer in Malaysia, which could enhance profitability [4]. Singapore Exchange (SGX) - SGX serves as the backbone of Singapore's capital markets, with a revenue breakdown showing that the Equities-Cash segment contributed 30.3% and the Equities-Derivatives segment contributed 26.6% to total net revenue for FY25 [5]. - SGX's net profit attributable to equity holders grew from S$445 million in FY2021 to S$648 million in FY2025, with dividends increasing from S$0.32 to S$0.375 during the same period [6]. - Recent partnerships, such as with Climate Impact X, and expansion in Foreign Exchange derivatives are expected to drive growth [7]. Comparative Analysis - iFAST offers higher growth potential with a revenue growth rate of 29.5% CAGR over three years, while SGX has a more stable growth rate of 7.6% [9]. - iFAST has a profit margin of 18.5% compared to SGX's 47.3%, and a lower dividend yield of 0.7% versus SGX's 2.2% [9]. - The choice between iFAST and SGX depends on investor preferences for growth acceleration versus stable compounding [10]. Key Catalysts and Risks - For iFAST, successful digital platform rollouts and margin expansion are potential growth drivers, while delays or contract risks could negatively impact valuation [11]. - SGX's growth will depend on market turnover and derivatives volume recovery, with lower volatility potentially limiting momentum [11]. - Both companies could benefit from macro trends such as rate cuts and improved investor sentiment [12]. Investor Considerations - Investors should monitor earnings growth and dividend policies for both companies through 2025, as well as valuation movements post-rate cuts [13][14]. - A diversified investment approach could involve holding both stocks to balance growth and stability [15].

US stock futures struggled on Monday to revive a rally stalled by doubts about interest-rate cuts, as investors looked ahead to high-stakes Nvidia (NVDA) earnings and the delayed September jobs report. Nasdaq 100 futures (NQ=F) fell roughly 0.3%, while those on the S&P 500 (ES=F) dipped around 0.2%. Contracts on the Dow Jones Industrial Average (YM=F) also traded around 0.2% lower. Wall Street is already getting set for Nvidia's (NVDA) earnings on Wednesday, always an intensely scrutinized event. But th ...

US stocks wavered on Monday amid doubts about interest rate cuts, as investors looked ahead to high-stakes Nvidia (NVDA) earnings and the delayed September jobs report. The tech-heavy Nasdaq Composite (^IXIC) rose 0.25%, while the S&P 500 (^GSPC) and the Dow Jones Industrial Average (^DJI) traded roughly flat. The three indexes had fallen at the market open. Wall Street is already getting set for Nvidia's (NVDA) earnings on Wednesday, always an intensely scrutinized event. But the stakes are even higher ...

Core Viewpoint - The U.S. stock market showed resilience despite global market weaknesses, with the S&P 500 recovering losses aided by bargain hunters, while concerns about inflation and the Federal Reserve's stance on interest rates influenced market sentiment [1][14]. Market Performance - The Dow Jones Industrial Average fell by 309.74 points (0.65%) to 47,147.48 but recorded a weekly gain of 0.3% [8] - The S&P 500 decreased by 3.38 points (0.05%) to 6,734.11, resulting in a weekly gain of 0.1% [8] - The Nasdaq Composite rose by 30.23 points (0.13%) to 22,900.59, ending the week with a loss of approximately 0.5% [8] - MSCI's global equities gauge declined by 4.37 points (0.44%) to 995.79, indicating a weekly gain of around 0.4% [8] Federal Reserve Insights - Federal Reserve officials expressed concerns about persistent inflation, with Kansas City Fed President Jeffrey Schmid highlighting that inflation issues extend beyond tariffs, indicating potential dissent regarding future rate cuts [2][14] - Dallas Fed President Lorie Logan opposed a December rate cut, citing high inflation as a concern [2][14] - Following comments from Fed officials, traders adjusted expectations for a quarter-point rate cut next month to a 46% probability, down from 66.9% the previous week [5][14] Sector-Specific Developments - The technology sector showed some recovery, with Nvidia, a leader in AI chips, increasing by 1.8%, while the smaller cap S&P 600 technology index closed up 0.3% [6][14] - Upcoming quarterly earnings reports from Nvidia and major retailers are anticipated to provide insights into consumer health and AI demand [6][14] Global Market Trends - European markets, including the pan-European STOXX 600 index and FTSEurofirst 300 index, closed down about 1% [9][14] - Asian shares outside Japan fell by 1.5% before U.S. markets opened [10][14] Currency and Commodity Movements - The dollar index rose by 0.02% to 99.26, with the euro down 0.08% at $1.1622, while the Japanese yen strengthened slightly against the dollar [11][14] - Oil prices increased due to supply concerns, with U.S. crude rising by 2.39% to $60.09 per barrel and Brent crude up by 2.19% to $64.39 per barrel [13][15] - Gold prices fell following hawkish remarks from Fed officials, with spot gold down 2.12% to $4,082.76 per ounce [13][15]

Core Viewpoint - Attention is focused on the timing of key data releases due to a series of delays, leading to investor uncertainty regarding potential interest rate cuts by the Federal Reserve next month [1] Group 1 - Investors are uncertain about the Federal Reserve's decision on interest rate cuts [1]

Market Overview - U.S. stock markets faced a significant downturn on November 13, 2025, marking one of the worst trading days since April, driven by concerns over high valuations of AI-related stocks and skepticism regarding the Federal Reserve's interest rate cuts [1][10] - Major indexes closed sharply lower, with the Nasdaq Composite dropping 2.3%, the S&P 500 falling 1.7%, and the Dow Jones Industrial Average shedding approximately 797 points, or 1.7% [2][10] Sector Performance - The negative sentiment was largely due to a rotation out of high-flying technology and AI stocks, as investors questioned the sustainability of their rapid gains, leading to a shift towards more defensive market areas [3] - Treasury yields increased, adding pressure to stock valuations, particularly for growth-oriented companies [3] Company-Specific News - Nvidia (NVDA) was a major drag on the market, with shares falling between 3.6% and 4.2%, as investor scrutiny over its valuation increased [5] - Tesla (TSLA) shares declined nearly 7% due to a steep year-over-year sales decline in China, highlighting competition and demand challenges [5] - The Walt Disney Co. (DIS) saw its shares tumble between 7.8% and 8.9% after missing quarterly sales forecasts, despite exceeding profit expectations [5] - Alphabet (GOOGL) experienced a notable drop of 2.3% amid the broader tech sell-off [5] - Cisco Systems (CSCO) rose 4.5% after boosting its full-year profit and revenue forecasts, driven by strong demand for networking equipment [5] - Sealed Air (SEE) shares soared between 16% and 19.6% following reports of a potential take-private deal [5] - Verizon Communications (VZ) shares rose 0.7% on plans to cut approximately 15,000 jobs for cost optimization [5] - Other AI-related stocks faced declines, including Super Micro Computer (SMCI) down 7.4%, Palantir Technologies (PLTR) down between 6.5% and 6.7%, and Broadcom (AVGO) down between 4.3% and 5.65% [5] - Companies in the cryptocurrency space also saw declines, with Robinhood Markets (HOOD) dropping nearly 9%, Interactive Brokers (IBKR) losing 7.8%, and Coinbase Global (COIN) sinking 6.9% [5] Economic Data and Federal Reserve Outlook - The market is awaiting crucial economic data, including the Consumer Price Index (CPI) and employment reports for October, which are expected to be delayed due to the recent end of the federal government shutdown [4][6] - The Federal Reserve's stance on interest rates remains a dominant theme, with skepticism about another rate cut in December, as the probability of a 25-basis-point cut decreased from 70% to approximately 53% [7] Upcoming Events - Nvidia's upcoming earnings report is highly anticipated, as it could serve as a significant test for the prevailing optimism surrounding AI technology [8]

Core Viewpoint - The Federal Reserve is expected to cut interest rates again in December due to signs of economic slowdown, particularly affecting lower-income consumers and small businesses, while wealthier individuals and larger companies continue to thrive [1][2]. Economic Conditions - The economy is described as "bifurcated," with a two-speed dynamic where lower-income groups are struggling, leading to a sluggish broader economic outlook as indicated by the Fed Beige Book [1][2]. - Signs of economic weakness may prompt the Federal Reserve to lower its neutral rate to around 3% and continue rate cuts into 2026 [2]. Federal Reserve Actions - Following a rate cut at the end of October, the likelihood of another cut in December is uncertain, with traders estimating a 50-50 chance of a 25 basis point reduction [3]. - The composition of the Federal Reserve is expected to become more dovish, regardless of the outcome of the upcoming decisions [4]. Market Outlook - Lower interest rates and tax benefits from the One Big Beautiful Bill Act are anticipated to prevent a recession, with the economy being late-cycle but not yet in recession [5]. - Concerns about overvaluation in artificial intelligence stocks are mitigated by the fact that current companies are profitable and not excessively leveraging debt for expansion [5]. - The technology sector is expected to continue driving stock market performance, indicating further potential for market growth [6].