Live Markets: Wall Street bounces back to green, Powell in the wings

Century Aluminum

10/02/2025 21:13

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      Main US indexes post gains; Nasdaq out front, up 1%
    

        * 
      Energy leads S&P 500 sector gains; Financials weakest
group
    

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      Dollar ~flat; gold up >1.5%; crude, bitcoin both up >2%
    

        * 
      US 10-Year Treasury yield edges up to ~4.50%
    

  
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    WALL STREET BOUNCES BACK TO GREEN, POWELL IN THE WINGS
    Wall Street headed higher on Monday, powered by the sort of
rally with which investors are well acquainted; chips, FANGS and
tech doing the heavy lifting.
    All three major indexes ended the session green, bouncing
off last week's losses, with Nasdaq  .IXIC  leading the pack
with a 1.0% advance. 
    U.S. President Donald Trump's tariff du jour, an additional
25% levy on steel and aluminum imports, gave a friendly boost to
Nucor  NUE.N , Steel Dynamics  STLD.O , Cleveland-Cliffs
 CLF.N , Century Aluminum  CENX.O , Alcoa  AA.N  and U.S. Steel
 X.N , which gained between 2.2% to 17.9%.
    In addition to tech  .SPLRCT , chips  .SOX  and megacap
momentum stocks  .NYFANG  - all helped by a near 3% gain in
Nvidia  NVDA.O  shares - Dow Transports  .DJI , considered an
economical canary in the coalmine, had an excellent day.
    Fourth-quarter earnings season has made it over the hump,
with a majority of the companies in the S&P 500 having reported
at a beat rate of about 76%, according to the most recent
available LSEG data. 
    The rest of the week includes Federal Reserve Chair Jerome
Powell's two-day testimony before congress, which will be parsed
and dissected for the faintest signals regarding the central
bank's near-term rate cut trajectory.
    That trajectory could well be affected by economic data due
later in the week, most particularly January consumer and
producer prices (CPI, PPI) on Wednesday and Thursday, followed
by the Commerce Department's retail sales report on Friday.
    Analysts see core CPI cooling down to a 3.1% annual rate,
with the headline figure hanging tough at 2.9%.
    Retail sales are believed to have decreased 0.1% last month,
with core retail sales (ex autos, gasoline, building material
and food services) decelerating to 0.3%.
    Here's your closing snapshot:
    (Stephen Culp)
     *****  
   
    
    FOR MONDAY'S EARLIER LIVE MARKETS POSTS:
    
    Q4 US EARNINGS GROWTH NOW ESTIMATED HIGHEST IN 2024 - CLICK
HERE
    
    IN TRADE WAR II, THE HIGH GROUND HAS ITS ADVANTAGES, SAYS
EVERCORE ISI  - CLICK HERE
    
    CONSUMER CREDIT BALANCES SURGE AS AMERICANS WHIP OUT THEIR
PLASTIC - CLICK HERE
    
    U.S. STOCKS SMELT SOME GAINS IN EARLY TRADE - CLICK HERE
    
    SPOT GOLD'S HEART IS FAR FROM COLD - CLICK HERE
    
    ASSESSING THE MARKET IMPACT OF A POSSIBLE UKRAINE CEASEFIRE
- CLICK HERE
    
    BANKS: NEXT STOP - SEPTEMBER 2008 HIGHS - CLICK HERE
    
    TRUMP CHINA PLANS A POSITIVE FOR EUROPE DISCOUNT RETAILERS -
CLICK HERE
    
    EUROPE IN THE GREEN, BP TOP GAINER - CLICK HERE
    
    EUROPE BEFORE THE BELL: SHRUGGING OFF TARIFF TALK - CLICK
HERE
    
    ALL TARIFFS, ALL THE TIME - CLICK HERE

 

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Closing snapshot    https://reut.rs/3COjcgD
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