2025-09-15 20:50

S&P 500, Nasdaq hit fresh records Dollar drops against peers, Euro gains Rate cuts seen from Fed, BoC; steady for BoE, BOJ Benchmark 10-year yields fall NEW YORK/LONDON, Sept 15 (Reuters) - Global shares hit a fresh record high on Monday as markets positioned for the U.S. Federal Reserve to begin its monetary policy easing cycle this week. Gold prices hit a record high as the U.S. dollar weakened. Traders widely expect the Fed to deliver a 25 basis-point cut at the end of its policy meeting on Wednesday, with the probability of such a move near 100%, according to CME's FedWatch tool. Sign up here. MSCI's All-Country Index (.MIWD00000PUS) , opens new tab rose as high as 977.09, up 0.50%, topping last week's record high. On Wall Street, all three main indexes closed higher with the S&P 500 and Nasdaq hitting fresh intraday record highs. Communication services, consumer discretionary, and technology stocks were the biggest gainers while consumer staples, healthcare and materials equities drove losses. The Dow Jones Industrial Average (.DJI) , opens new tab rose 0.11% to 45,883.45, the S&P 500 (.SPX) , opens new tab rose 0.47% to 6,615.28 and the Nasdaq Composite (.IXIC) , opens new tab rose 0.94% to 22,348.75. Stocks in Europe (.STOXX) , opens new tab rose 0.42% on the day, finishing near a three-week high with luxury and defense stocks boosting the main index "Today it looks like we're still in a wait-and-see mode for the Fed meeting and announcement," said Wasif Latif, chief investment officer at Sarmaya Partners in New Jersey. "We've had a big run up in the market that continues to see new highs in anticipation of the Fed and today seems to be moving in the same direction." Key too will be Fed members' "dot plot" projections for rates and guidance from Fed Chair Jerome Powell on the extent and pace of any further easing. The yield on benchmark U.S. 10-year notes fell 2.4 basis points to 4.036%. Futures already have 125 basis points of cuts priced in by late 2026, so anything less than dovish will likely disappoint investors. "What's interesting is that we've already seen prices move significantly in anticipation of the cut, so the question is will the rate announcement itself turn into a sell-on-the-news today or not," Latif added. U.S. President Donald Trump continued his attacks on the central bank on Sunday, saying Powell was incompetent and hurting the housing market. The Bank of Canada is also expected to cut rates by a quarter point this week, while the Bank of Japan and the Bank of England are both seen holding rates steady. In currencies, the U.S. dollar dropped against its peers ahead of the Fed's expected rate cut. It was down 0.17% to 147.42 against the Japanese yen and was down 0.27% to 0.79420 against the Swiss franc . The dollar index fell 0.36% to 97.31. The euro shrugged off Fitch's downgrade of France late last week, rising 0.23% to $1.176075. It was a touch weaker against sterling, trading at 86.44 pence, down 0.1% on the day . The euro has been underpinned by a steady outlook for EU rates, with the European Central Bank signaling last week it was in a "good place" on policy. A host of ECB officials are due to speak this week, including President Christine Lagarde. The United States and China reached a framework agreement to switch short-video app TikTok to U.S.-controlled ownership, an arrangement that will be confirmed in a call between Trump and Chinese President Xi Jinping on Friday, U.S. officials said. Nvidia's (NVDA.O) , opens new tab finished flat, erasing earlier session losses, after China's market regulator said on Monday that a preliminary investigation had found that the company had violated the country's anti-monopoly law, marking the latest hit for the U.S. chip giant. Oil prices rose as investors assessed the impact of Ukrainian drone attacks on Russian refineries. Brent crude futures settled up 0.67% to $67.44 a barrel. U.S. West Texas Intermediate crude CLc1 settled at $63.30 a barrel, up 0.97%. Gold prices hit a new record high, underpinned by a softer dollar and lower Treasury yields. Spot gold rose 1.04% to $3,680.87 an ounce. It hit a record high of $3,685.39 earlier in the session. https://www.reuters.com/world/china/global-markets-wrapup-5-graphics-2025-09-15/

2025-09-15 20:47

S&P up 0.47%, Nasdaq up 0.94%, Dow up 0.11% Alphabet hits $3 trillion in market value for first time Nvidia slips after China's anti-monopoly investigation Tesla gains as CEO Musk buys shares worth $1 billion Sept 15 (Reuters) - The three major U.S. stock indexes closed higher on Monday with the S&P 500 and the Nasdaq notching intraday record high closes, as investors await the Federal Reserve's crucial policy meeting later this week. Tesla (TSLA.O) , opens new tab shares climbed 3.6% after regulatory filings revealed CEO Elon Musk had acquired nearly $1 billion worth of the electric vehicle maker's stock on Friday. And Google parent Alphabet (GOOGL.O) , opens new tab hit a record high and raced past $3 trillion in market capitalization. Sign up here. The Federal Open Market Committee meeting on September 16 and 17 looms large over sentiment this week with market participants widely expecting a 25-basis-point reduction following recent economic data signaling labor market weakness. “The market is counting on sort of a goldilocks scenario where the employment market is just weak enough to prompt the Federal Reserve to start a rate cutting series, not just one, without disrupting overall growth,” said Carol Schleif, Chief Investment Officer at BMO Family Office. “I think the markets will be disappointed if the Fed doesn’t give some hint that they intend to continue rate cuts.” Traders on Monday are pricing in a 96% chance of a 25-basis-point cut at this week's meeting. Tesla's gains boosted the S&P 500 consumer discretionary sector (.SPLRCD) , opens new tab 1.1% to its highest level in nearly nine months. Meanwhile, Alphabet helped lift the communication services sector (.SPLRCL) , opens new tab up 2.33%. Nvidia (NVDA.O) , opens new tab slipped 0.04% after China's market regulator said it will continue an investigation into the AI chip leader after preliminary findings showed it had violated the country's anti-monopoly law. The Dow Jones Industrial Average (.DJI) , opens new tab rose 49.23 points, or 0.11%, to 45,883.45, the S&P 500 (.SPX) , opens new tab gained 30.99 points, or 0.47%, to 6,615.28 and the Nasdaq Composite (.IXIC) , opens new tab gained 207.65 points, or 0.94%, to 22,348.75. Wall Street's three main indexes had logged weekly gains in the previous session, with the Nasdaq and the S&P 500 hitting intraday record highs on Friday as technology-linked stocks remained resilient. Declines in McDonald's (MCD.N) , opens new tab and Procter & Gamble Co (PG.N) , opens new tab weighed on the Dow. CoreWeave (CRWV.O) , opens new tab jumped 7.6% after the data center operator signed a deal with Nvidia that guarantees that the chipmaker will purchase any residual cloud capacity not sold to customers. The deal's initial value is $6.3 billion. Kerrisdale Capital disclosed a short position on CoreWeave. On the Nasdaq, advancing issues outnumbered decliners by a 1.2-to-1 ratio. Advancing issues outnumbered decliners by a 1.67-to-1 ratio on the NYSE. The S&P 500 posted 23 new 52-week highs and 11 new lows while the Nasdaq Composite recorded 117 new highs and 66 new lows. Volume on U.S. exchanges was 17.68 billion shares, compared with the 16.2 billion average for the full session over the last 20 trading days. https://www.reuters.com/business/wall-street-indexes-end-higher-ahead-fed-meeting-tesla-alphabet-rally-2025-09-15/

2025-09-15 20:46

TSX ends up 0.5% at 29,431.02 Surpasses Thursday's record closing high Energy rises 0.8% as oil settles 1.1% higher Cameco jumps 9.9% Sept 15 (Reuters) - Canada's main stock index rose to another record high on Monday as energy and technology shares notched gains, and ahead of expected moves this week by the Bank of Canada and the Federal Reserve to resume their easing campaigns. The Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) , opens new tab ended up 147.20 points, or 0.5%, at 29,431.02, eclipsing last Thursday's record closing high. Sign up here. Wall Street's three major indexes also closed up as investors awaited an expected interest rate cut by the Fed on Wednesday. The BoC is also expected to lower rates on Wednesday after leaving its benchmark rate on hold at 2.75% since March. "Recent soft economic numbers on both sides of the border have increased the pressure on central bankers to do something," Colin Cieszynski, chief market strategist at SIA Wealth Management, said in a note. The energy sector rose 0.8% as the price of oil settled 1.1% higher at $63.36 a barrel after Ukrainian drone attacks on Russian refineries. Uranium shares were among the biggest advancers, with Cameco Corp (CCO.TO) , opens new tab jumping 9.9%. Canadian oil sands producer MEG Energy (MEG.TO) , opens new tab urged shareholders to reject the sweetened takeover bid from its majority stakeholder Strathcona Resources (SCR.TO) , opens new tab and reaffirmed support for sale to Cenovus Energy (CVE.TO) , opens new tab. Cenvous rose 1.9%, while Strathcona was down 1.8% and MEG ended barely changed. Technology was up 0.8% and heavily weighted financials added 0.5%. Canadian home sales rose for a fifth straight month in August as increased activity in the regions of Montreal, Greater Vancouver and Ottawa offset a decline in the Greater Toronto Area, data from the Canadian Real Estate Association showed. https://www.reuters.com/markets/europe/uranium-producers-help-lift-tsx-another-record-high-2025-09-15/

2025-09-15 20:41

EU struggles to agree on 2040 climate target, delaying 2035 submission Draft suggests range for 2035 emissions reductions but no fixed target Under the draft, EU would miss global deadline for new climate goals BRUSSELS, Sept 15 (Reuters) - The European Union does not expect to reach an agreement on its new U.N.-mandated climate target in time for a key deadline this month, and has instead drafted plans to submit a temporary goal, which could change later, an EU negotiating document seen by Reuters showed. EU countries are struggling to reach a deal on their new climate target for 2040, which has derailed plans for the bloc to submit a 2035 target to the United Nations by a deadline this month for all countries to do so. The EU had planned to derive its 2035 climate target from the 2040 goal. Sign up here. The draft EU document, seen by Reuters, showed the bloc is now instead considering submitting a "statement of intent" to the U.N. about what its 2035 goal will be - indicating it will be between a 66.3% and a 72.5% emissions reduction by 2035, from 1990 levels. The EU will decide its final 2035 target later, after it reaches a deal on its 2040 climate goal, the document said. EU countries' ambassadors will on Tuesday discuss the draft, which could still change during the negotiations. The move aims to avoid the EU being empty-handed at the U.N. general assembly next week, where U.N. Secretary-General Antonio Guterres has asked countries to announce their climate targets, to drum up momentum for the global COP30 climate negotiations in November. But it leaves open the question of how ambitious the EU's final target will be - and increases the likelihood that the EU will lag behind other major emitters, including China, in setting its new climate goal. Manon Dufour, an executive director at think tank E3G, said the plan could allow the EU to agree on a more ambitious target later, ahead of COP30 - but that it raised questions about EU leadership on climate change. "It does very little to dispel doubts about the EU's domestic transition, or galvanise global partners ahead of the UN General Assembly, in such a critical year for global climate action," she said. The higher end of the target range reflects a pathway towards a 90% emissions reduction by 2040 - which is what EU countries are negotiating as their 2040 climate goal, the document said. The lower end is calculated by drawing a straight line between the EU's existing 2030 and 2050 climate goals. Countries including Poland have backed a range starting at the lower end, while countries including Spain and Denmark want a more ambitious goal, EU diplomats said. Denmark, which holds the rotating EU presidency, drafted the document. It declined to comment. https://www.reuters.com/sustainability/cop/eu-set-miss-un-deadline-new-climate-targets-draft-shows-2025-09-15/

2025-09-15 20:26

NEW YORK, Sept 15 (Reuters) - The U.S. Securities and Exchange Commission agreed to settle a lawsuit that accused an exchange run by billionaire twins Tyler and Cameron Winklevoss of failing to register a cryptocurrency asset lending program before offering it to retail investors. In a letter filed on Monday in Manhattan federal court, lawyers for the SEC and the exchange now known as Gemini Space Station (GEMI.O) , opens new tab said the settlement in principle would "completely resolve" the lawsuit over Gemini Earn, subject to approval by the commission. Sign up here. The lawyers asked U.S. District Judge Edgardo Ramos to give them until December 15 to submit final paperwork, and to put all deadlines on hold. Neither the SEC nor Gemini's lawyers immediately responded to requests for comment. The settlement was disclosed four days after Gemini raised $425 million in an initial public offering, valuing the New York-based company at about $3.3 billion. Shares of Gemini closed up 52 cents at $32.52 on Monday, 16% above the $28 IPO price. Gemini Earn let customers lend bitcoin and other crypto assets to the cryptocurrency lender Genesis Global Capital in exchange for interest payments, with Gemini Trust taking fees as high as 4.29%. Genesis halted withdrawals in November 2022, the same month Sam Bankman-Fried's FTX cryptocurrency exchange collapsed, and filed for bankruptcy two months later. It held $900 million of assets from about 340,000 Gemini Earn customers at the time. The SEC sued Gemini and Genesis in January 2023, saying they bypassed disclosure requirements for Gemini Earn that were meant to protect investors. Genesis accepted a $21 million fine to settle, without admitting wrongdoing. Gemini has denied wrongdoing. The SEC has eased oversight of the cryptocurrency industry since Donald Trump became president in January. Tyler and Cameron Winklevoss, 44, are each worth $4.6 billion according to Forbes magazine. The case is SEC v Gemini Trust Co et al, U.S. District Court, Southern District of New York, No. 23-00287. https://www.reuters.com/sustainability/boards-policy-regulation/sec-billionaire-winklevoss-twins-resolve-lawsuit-over-gemini-earn-2025-09-15/

2025-09-15 20:08

Sept 15 (Reuters) - New York's Metropolitan Transportation Authority said on Monday that unions had backed off from a threat to launch a strike later this week at the Long Island Rail Road, which serves nearly 300,000 passengers daily. A group of unions said at a press conference they had asked President Donald Trump to appoint an emergency board to conduct mediation after previously threatening to launch a strike at the railroad serving New York commuters. Sign up here. "This action does not mean a strike won't happen. But it does mean it won't happen now," said Gil Lang, general chairman for the BLET's LIRR engineers. Union leaders said the appointment of a White House board would trigger a 120-day period during which the board would make a recommendation, and no work stoppage could occur in that time. If no deal is reached, the White House could then name a second board with a cooling-off period until May 2026. The LIRR is one of the largest commuter railroads in the United States. "The five unions decided to be the grownup in the room and request President Trump to appoint a presidential emergency board," said Jim Louis, national vice president of the Brotherhood of Locomotive Engineers and Trainmen. The MTA criticized the unions. "If these unions wanted to put riders first, they would either settle or agree to binding arbitration... This cynical delay serves no one." The White House did not immediately respond to a request for comment. New York Governor Kathy Hochul called on the White House for direct mediation. "There is a fair offer on the table, and I have directed the MTA to be ready to negotiate anytime, anywhere," she said. "Both sides must return to negotiations and keep working around the clock until this is resolved." https://www.reuters.com/sustainability/sustainable-finance-reporting/unions-back-off-threat-launch-strike-against-new-york-rail-agency-2025-09-15/