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☆ Stock market today: Indexes edge up after Fed and as trader eye Apple earnings
▼ + stars: | 2024-05-02 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +2 min

US stocks rose Thursday after the Fed meeting and as investors eyed Apple earnings. Expectations heading into Apple earnings are mixed, with analysts seeing a tough period for the iPhone maker. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementUS stocks rose Thursday morning following Wednesday's Federal Reserve meeting and as traders geared up for Apple earnings after the closing bell. Expectations are for the tech firm to report revenue of $90.33 billion and earnings per share $1.50.

Persons: —, Jerome Powell, Powell Organizations: Apple, Service, Reserve, Labor Department, Dow, Nasdaq

☆ Billionaire 'bond king' Bill Gross says soaring Treasury issuance means bond yields can't come down anytime soon
▼ + stars: | 2024-05-02 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +2 min

Bill Gross says bond prices will be higher rather than lower in the near term as Treasury issuance surges. Gross also said the "total return" bond strategy he helped develop in the 1980s is dead. AdvertisementThe high level of US debt issuance signals to investors that they should expect yields to move higher, not lower, according to "bond king" Bill Gross. AdvertisementGross explained that while Treasury debt has been growing at a rapid rate, other types of debt, including business and household debt, have been growing more slowly. As a result, in order to make up for this difference, the government must ramp up Treasury debt by over 10% to uphold 5.5% nominal GDP growth, he wrote.

Persons: Bill Gross, Gross, —, PIMCO Organizations: Service, Treasury, Federal

☆ Inflation story is not accretive enough for a rate cut, says DoubleLine's Jeffrey Sherman
▼ + stars: | 2024-05-02 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInflation story is not accretive enough for a rate cut, says DoubleLine's Jeffrey ShermanJeffrey Sherman, DoubleLine deputy CIO, joins 'Money Movers' to discuss why the Federal Reserve will only raise rates once this year, what the Fed's moves ultimately for bonds, and more.

Persons: DoubleLine's Jeffrey Sherman Jeffrey Sherman Organizations: Federal Reserve

☆ Income investors can find double-digit yields at a discount with this play
▼ + stars: | 2024-05-02 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +3 min

Enter the closed-end fund, a relative of the traditional, open-end mutual fund. Gundlach highlighted closed-end funds on CNBC's " Closing Bell " Wednesday afternoon, noting that it's "a pretty good environment for moderate risk assets." "For retail investors, closed-end funds have gone back to trading at discounts broadly, and with some leverage involved there, there's double-digit yields available without taking a ton of credit risk," he said. Searching for discounts Drivers of these closed-end fund discounts, particularly those that hold bonds, include sharp spikes in yields. The Abrdn National Municipal Income Fund (VFL) , for instance, is trading at a 15% discount to its net asset value, according to Nuveen's CEF Connect, a database of closed-end funds.

Persons: Jeffrey Gundlach, Gundlach, Eaton Vance Organizations: Income Fund, Income Trust, Fidelity Locations: Eaton Vance California

☆ Stock market today: Stocks rally ahead of big April jobs report
▼ + stars: | 2024-05-02 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +3 min

Stocks closed higher on Thursday ahead of Apple earnings and the April jobs report. Bank of America's Savita Subramanian said the stock market has more room to run even without a rate cut. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementUS indexes closed higher on Thursday ahead of Apple's earnings and a key labor report set to be published Friday morning. Bank of America's US equity head, Savita Subramanian, has said the stock market has more room to run even without looser monetary policy.

Persons: America's Savita Subramanian, —, Dow Jones, Veronica Clark, payrolls, Jerome Powell, Savita Subramanian Organizations: Apple, Bank, America's, Service, Nvidia, Microsoft, Dow, Citi, Bank of, Bloomberg, Nasdaq Locations: China

☆ Stock market today: US stocks fall ahead of Fed decision
▼ + stars: | 2024-05-01 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

Markets are widely expecting the Fed to keep interest rates unchanged. The outlook for rate cuts this year continues to sour, with traders pricing in just one or two cuts by December. AdvertisementUS stocks were mostly lower on Wednesday as traders waited for the Federal Reserve to announce its next move on interest rates. Investors have also dialed back their outlook for rate cuts throughout the year. At Wednesday's meeting, market watchers expect Powell to formally confirm this shift from the FOMC, which had previously forecast three rate cuts this year," Alex Kuptsikevich, a senior market analyst at FxPro said in a note.

Persons: Stocks, —, Richard Flynn, Charles Schwab, Powell, Alex Kuptsikevich, FxPro Organizations: Service, Federal Reserve, Open Markets, Traders

☆ The Fed could make a big change today. We’re not talking about interest rates
▼ + stars: | 2024-05-01 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

New York CNN —Wednesday’s Federal Reserve policy decision will likely be pretty boring for investors — officials are widely expected to keep interest rates the same, just as they have since July 2023. They think that the Fed may curtail its quantitative tightening (QT) program — that’s the selling off of its assets to decrease money supply and increase interest rates — by as much as half. Those purchases ended up pushing down interest rates in certain parts of the economy, like housing and auto sales. That led to a “repo crisis”, where the interest rates for overnight loans between banks spiked unusually high. That’s because a taper should send bond prices higher, and interest rates lower.

Persons: there’s, Jamie Dimon, Jerome Powell doesn’t, Krishna Guha, Marco Casiraghi, ”, Bill Adams, Biden, reclassify, General Merrick Garland, Xochitl Hinojosa, “, Nancy Mace, Earl Blumenauer, ” Read, Zhao, Allison Morrow, ” Binance Organizations: CNN Business, Bell, New York CNN, Fed, JPMorgan Chase, Comerica Bank, Bank of America, CNN, US Department of Justice, Federal Register, Congress, Associated Press, Republican, CZ, Binance, Bloomberg Locations: New York, South Carolina, Oregon, Seattle

☆ Lock in attractive real yields with this inflation-protected investment, says UBS
▼ + stars: | 2024-05-01 | by ( Michelle Fox | ) www.cnbc.com time to read: +2 min

Investors can lock in some juicy real yields with Treasury inflation-protected securities, according to UBS. "The result has been rising real yields further out the curve, offering the opportunity to lock in attractive real yields ahead of expected falling nominal yields later this year," she added. Treasury yields are expected to decline when the Federal Reserve starts reducing the fed funds rate. Nominal yields have been rising as the market reassesses those interest rate expectations. "Our expectation of declining nominal yields in the second half of the year will be a tailwind to performance," she said.

Persons: Leslie Falconio Organizations: Treasury, UBS, Federal Reserve, Treasury Department Locations: UBS Americas

☆ Americans were paid an additional $235 billion in interest in 2023, thanks to the Fed
▼ + stars: | 2024-05-01 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +7 min

High-yield savings accountsThe average interest rate on regular bank savings accounts is roughly 0.5% but can run as low as 0.01% at the biggest banks. By contrast, the average on high-yield savings accounts is well over 4%, according to DepositAccounts.com. If you leave it parked in a regular savings account at 0.5%, you’ll get $50 in interest for a year. As with any savings account, banks can lower the rate they offer — also known as the APY — at any time. Money market accounts and money market fundsAlthough money market deposit accounts and money market mutual funds are both generating yields competitive with the best high-yield savings accounts, there are important differences.

Persons: —, It’s, ”, Greg McBride, you’ll, McBride, “, ” McBride, Ben Bakkum, Collin Martin, Martin Organizations: New, New York CNN, Federal Reserve, Federal Deposit Insurance Corporation, FDIC, National Credit Union Share Insurance, Securities Investor Protection Corporation, Treasury, Fed, Schwab Center, Financial Research Locations: New York, Schwab.com, United States

☆ Why Series I savings bonds are losing their luster
▼ + stars: | 2024-05-01 | by ( Sharon Epperson | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhy Series I savings bonds are losing their lusterI bonds were all the rage a couple of years ago, when the interest rate hit nearly 10% and yields on savings accounts were low. Now, as inflation has come down, I bonds have lost their luster. CNBC Senior Personal Finance Correspondent explains.

Organizations: CNBC

☆ DoubleLine’s Jeffrey Gundlach sees one rate cut this year as the Fed keeps up inflation fight
▼ + stars: | 2024-05-01 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

DoubleLine Capital CEO Jeffrey Gundlach said Wednesday that he now sees no more than one interest rate cut this year as the Federal Reserve keeps policy tight to fight stubborn inflation. "The inflation rate clearly is the one that is lacking progress as [Jerome Powell] put it, so I'm going to lean on one rate cut," Gundlach said on CNBC's " Closing Bell." "Higher for longer … seems like the mantra continues, but without a rate hike. Treasury yields dropped to their session lows and stocks shot to session highs as Powell said the next policy move will not be a rate increase. "I think it's unlikely that the next policy rate move will be a hike.

Persons: Jeffrey Gundlach, Jerome Powell, Gundlach, Powell Organizations: DoubleLine, Federal Reserve, Treasury

☆ Stock market today: Indexes mixed after Fed meeting as Powell calms nerves over possible hike
▼ + stars: | 2024-05-01 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Central bankers chose to keep interest rates steady, and Powell said a rate hike was "unlikely." Fed officials chose to keep interest rates unchanged, in line with the market's expectations. Investors have been fretting over higher interest rates as inflation came in hotter-than-expected throughout the first quarter. The odds of a Fed rate hike in June are less than 1%. Calling that out in the first paragraph is tantamount to saying that interest rate cuts are not coming soon."

Persons: Powell, —, Greg McBride, Bankrate, Charlie Ripley Organizations: Service, Federal Reserve, Nasdaq, Fed, Allianz Investment Management

☆ Treasury Department announces new Series I bond rate of 4.28% for the next six months
▼ + stars: | 2024-04-30 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +2 min

Jitalia17 | E+ | Getty ImagesHow I bond rates workThere are two parts to I bond rates — a variable- and fixed-rate portion — which the Treasury adjusts every May and November. Based on inflation, the variable rate stays the same for six months after purchase, regardless of when the Treasury announces new rates. There are no state or local levies on interest and you can defer federal taxes until redemption. What's the interest rate from May 1 to Oct. 31, 2024? $10,000 per person every calendar year, plus an extra $5,000 in paper I bonds via your federal tax refund.

Persons: Jeremy Keil, Keil, there's, Will Organizations: Treasury, Keil Financial Partners Locations: Milwaukee

☆ Stock market today: Indexes drop as hot labor data adds pressure ahead of Fed meeting
▼ + stars: | 2024-04-30 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

The quarterly measure saw wage and labor costs accelerate, adding pressure on the Fed. Tuesday marks the start of the Fed's meeting of the Federal Open Market Committee. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementUS equity markets slipped Tuesday as hot labor data stoked fresh bets the Federal Reserve would remain hawkish on monetary policy. The Employee Cost Index, a quarterly measure of wages and benefits, jumped 1.2%, suppressing estimates of a 1% acceleration.

Persons: —, It's Organizations: Fed, Federal, Market, Service, Reserve, of Labor Statistics, Amazon, Apple, Here's, Trump, Bloomberg

☆ 'It's a good time to lock in,' expert says. What to know to get the best rates on your cash now
▼ + stars: | 2024-04-30 | by ( Lorie Konish | ) www.cnbc.com time to read: +1 min

Higher interest rates may be here to stay for a while longer, thanks to persistent inflation. That's good news for cash savers, who have the best opportunity to earn returns on their money in 15 years. To secure today's high rates, individuals may turn to CDs, Treasury bills and Treasury Inflation-Protected Securities, or TIPs. Series I bonds — a U.S. government savings bond aimed at providing inflation protection — will pay 4.28% for the next six months, the Treasury Department announced Tuesday. Yet 67% of Americans are earning interest rates below that threshold, according to a recent Bankrate survey.

Persons: What's, Greg McBride, McBride Organizations: Securities, Treasury Department, Finance Locations: U.S

☆ Stock market today: Dow drops 570 points to end worst month of 2024 as traders brace for Fed decision
▼ + stars: | 2024-04-30 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

Stocks dropped sharply as investors readjusted rate cut expectations ahead of the latest FOMC meeting. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementUS stocks plunged on Tuesday as investors got another dose of inflationary data ahead of the Federal Reserve's next policy decision. For the Fed, that adds even more restraint on its ability to cut interest rates this year, and futures markets now expect only one rate cut in December. AdvertisementThe equity decline that followed only deepened April's market losses, making it the first month of 2024 to end in the red.

Persons: Stocks, —, Bill Adams, Brent Organizations: Service, Federal, of Labor Statistics, Comerica Bank Locations: McDonald's, Israel, Here's

☆ My kids don't have any grandparents, and it's left a void
▼ + stars: | 2024-04-30 | by ( Molly Wadzeck Kraus | ) www.businessinsider.com time to read: +6 min

I'm grateful for the people we've met in the community who have made connections with my kids. Though no one can replace their grandparents, I'm grateful for these intergenerational friendships. Though my kids won't know their own grandparents, I've intentionally looked for other ways to bring intergenerational relationships into their lives. My kids' grandparents can never be replaced, but I'm grateful for my communityA local grandmother recently invited me for tea. They take an interest in my older children, asking them about their passions, hobbies, and interests.

Persons: we've, I'm, —, pang, Nana, I've, they've Organizations: Service, Research

☆ Campus protesters are calling for divestment. Here’s what that means
▼ + stars: | 2024-04-30 | by ( Samantha Delouya | ) edition.cnn.com time to read: +5 min

“Disclose, divest, we will not stop, we will not rest,” protesters at Columbia and universities across the country have chanted. Student protesters who oppose Israel’s military action in Gaza are demanding that their universities sell investments in companies with ties to Israel. Pro-Palestinian protesters say divestment would send an important message of disapproval of Israel’s conduct in Gaza. But while demonstrators have spread their messages across the country, many schools haven’t acquiesced to protesters’ calls for divestment. There are historical precedents for university divestment.

Persons: Israel’s, haven’t, Columbia’s, ”, Christina Paxson, ” Nicholas Dirks, “, Dirks Organizations: CNN — College, Student, Columbia University Apartheid, Microsoft, Protesters, Cornell, Yale, University of Michigan, The University of California, University of California, University, University of Texas, Brown, Brown Daily Herald, Portland State University, Boeing, Columbia, Ford, CNN Locations: Israel, Columbia, Gaza, Dallas, South Africa, Berkeley

☆ Bonds offer income and some volatility protection. Pick out the right bond fund for your portfolio
▼ + stars: | 2024-04-29 | by ( Michelle Fox | ) www.cnbc.com time to read: +6 min

That said, in general, most investors would be best served buying a diversified bond fund, said Mulach. What to look for in bond fundsThere are several factors to consider when investing in a bond fund. Intermediate-core durations typically range between 75% and 135% of the three-year average of the effective duration of the Morningstar Core Bond Index. Top Morningstar Bond Funds Ticker Fund Morningstar Category Type 30-day SEC yield Adj. Aggregate Bond ETF can be a great option to simply replicate that index, he said.

Persons: Morgan Stanley, shouldn't, Morningstar, Mike Mulach, Chuck Failla, Failla, Mulach, You'll, Baird, BSBSX Baird, Morningstar's Organizations: Treasury, Federal Reserve, Sovereign Financial, Morningstar, SEC, Mutual, FLTB Fidelity, Fidelity, Hartford, Aggregate

☆ Boeing taps debt market to raise $10 billion: Reuters
▼ + stars: | 2024-04-29 | by ( ) www.cnbc.com time to read: +2 min

The Boeing logo is displayed on a Boeing building on January 8, 2024 in El Segundo, California. Boeing on Monday tapped debt markets to raise $10 billion, after the U.S. planemaker burned $3.93 billion in free cash during the first quarter following slowing production of its best-selling jet, sources familiar with the matter said. Moody's said the rating reflects Boeing's still-strong business profile, which continues to mitigate ongoing weak performance in commercial aircraft, although headwinds surrounding the division could persist through 2026. Boeing will use the bond proceeds to increase its liquidity ahead of maturities on its existing debt load, including $4.3 billion in 2025, S&P wrote on Monday. The deal's bookrunners leading the bond sale include Bank of America , Citi, JPMorgan and Wells Fargo , according to the deal's term sheet.

Persons: Moody's, bookrunners, Wells, Brian West Organizations: Boeing, U.S, Bank of America, Citi, JPMorgan Locations: El Segundo , California, maturities, Wells Fargo

☆ Family offices are looking beyond the stock market for higher returns, new report finds
▼ + stars: | 2024-04-29 | by ( Robert Frank | ) www.cnbc.com time to read: +5 min

The family offices covered by the survey had 26% of their assets invested in publicly traded stocks. The study surveyed 190 single family offices around the world, with an average of $1.4 billion in assets. In the U.S., only 49% of family offices have a long-term target return for their portfolio. Still, family offices use various benchmarks for their investment portfolios, with more than three-quarters of those surveyed using some benchmark to evaluate performance. Increasingly, family offices are looking to outsource more functions to reduce costs, especially among smaller family offices of under $500 million.

Persons: William Sinclair, Sinclair, cybersecurity, Robert Frank Organizations: JPMorgan Private Bank Global, Family, JPMorgan Private Bank, JPMorgan Locations: U.S

☆ 29% of households have jobs but struggle to cover basic needs: They are 'one emergency from poverty,' one expert says
▼ + stars: | 2024-04-29 | by ( Jessica Dickler | ) www.cnbc.com time to read: +2 min

Stubborn inflation has driven many households near the breaking point, but the pain of high prices has not been shared equally. By most measures, low-income households have been hardest hit, experts say. The Federal Reserve responded with a series of interest rate hikes that took its benchmark rate to its highest level in more than 22 years. The spike in interest rates caused most consumer borrowing costs to skyrocket, putting many households under pressure. Inflation continues to prove stickier than expected, dashing hopes that the Fed will be able to cut interest rates anytime soon.

Persons: ALICE, Brett House, Greg McBride, we've, Jerome Powell, Hoopes Organizations: Columbia Business School, Federal, Labor Department's Bureau of Labor Statistics

☆ It's going to be a massive week for the stock market
▼ + stars: | 2024-04-29 | by ( Matthew Fox | ) www.businessinsider.com time to read: +5 min

It's a big week for the stock market with a deluge of economic data set to be released. AdvertisementIt's going to be a massive week for the stock market as investors prepare for a deluge of economic data and corporate earnings results. Raymond James' chief investment officer Larry Adam highlighted the top five things to watch this week that could have a big impact on stock market prices. Finally, the April jobs report set to be released on Friday will be closely watched by investors. The jobs report will provide an update on the strength of the labor market," Adam said.

Persons: Raymond James, —, Larry Adam, Adam, Jerome Powell, Powell, Treasurys Organizations: Fed, Service, Treasury Department, Treasury, Apple, Investors, ISM Manufacturing, Manufacturing

☆ Rita Moreno says her only daughter has helped her cope with aging: '92 is not easy in many ways'
▼ + stars: | 2024-04-29 | by ( Amanda Goh | ) www.businessinsider.com time to read: +1 min

Rita Moreno, 92, says her daughter helps her cope with the difficulties of aging. Moreno told People she needs her daughter's wisdom "more often than you might think." AdvertisementRita Moreno, 92, says aging has brought her closer to her daughter. "I'm constantly calling upon her to do things," Moreno told People. "I have a problem with remembering names, names of things, and names of people.

Persons: Rita Moreno, Moreno, —, Fernanda Luisa Gordon, Leonard Gordon, I'm Organizations: Urban Institute, Service, Business

☆ Stock market today: US stocks edge higher ahead of earnings deluge and Fed policy meeting
▼ + stars: | 2024-04-29 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

US stocks jumped on Monday, extending gains from last week as investors digest Q1 earnings results. Also on the radar is this week's Federal Reserve meeting and interest rate decision and the April jobs report. Amazon and Apple will headline this week's earnings results, and an additional 170 S&P 500 companies are expected to report their results throughout the week. So far, about half of S&P 500 companies have reported earnings results. Apart from earnings, investors will be paying close attention to the Federal Reserve's FOMC meeting on Wednesday.

Persons: —, Jerome Powell Organizations: Apple, Reserve, Service, Federal, Macquarie Locations: Fundstrat, Here's

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