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☆ The Fed will be the main event in the week ahead that includes a jobs report, more tech earnings
▼ + stars: | 2024-04-26 | by ( Sarah Min | ) www.cnbc.com time to read: +6 min

On top of that, the latest U.S. jobs market scorecard will be released along with more mega-cap earnings. This week, the U.S. 10-year Treasury yield briefly climbed above 4.7% for the first time since November. That's down sharply from the six or seven rate cuts investors were anticipating coming into the year. April jobs Investors will also get an update on the labor picture next week, with the release of the April nonfarm payrolls report set for Friday. Corporate earnings season will also ramp up in the week ahead with a slew of consumer-facing companies set to report.

Persons: Stocks, Powell, David Alcaly, Jerome Powell's, we've, they're, Brian Nick, Matt Stucky, it's, Stucky, Dow Jones, Nick, Archer, Eli Lilly, Kraft, Estee, Ingersoll Rand, Stanley Black, Decker, Hershey Organizations: Nasdaq, Google, Microsoft, Treasury, Lazard Asset Management, Macro, Northwestern Mutual Wealth Management Company, Fed, Apple, Micro Computer, Dallas Fed, Paramount, ON Semiconductor, Chicago PMI, Prudential Financial, Devices, Storage, Diamondback Energy, Caesars Entertainment, Corning, Daniels, Midland, Molson Coors Beverage, Marathon Petroleum, GE Healthcare Technologies, PayPal, ADP, P Global, Manufacturing, Oil, MGM Resorts International, Allstate, Etsy, eBay, Qualcomm, MetLife, First, Devon Energy, Cruise Line Holdings, Brands, Marriott International, Kraft Heinz, Pfizer, Companies, CVS Health, Generac, Mastercard, Labor, Nation Entertainment, Booking Holdings, Natural Resources, Motorola Solutions, Expedia, EOG, Coterra Energy, Dominion Energy, Howmet Aerospace, ConocoPhillips, Moderna, PMI, Services PMI Locations: U.S, Chicago, McDonald's, Albemarle, EOG Resources

☆ Here's why Thursday's post-GDP sell-off may be overdone
▼ + stars: | 2024-04-25 | by ( Sarah Min | ) www.cnbc.com time to read: +4 min

Stocks sold off Thursday aHoweverfter the latest economic data came in weaker than expected, but some observers say that the reaction was overdone. While the headline GDP number missed expectations, it nevertheless showed economic growth the Fed could take in stride, they say. He noted that the core parts of GDP, such as consumption growth and residential growth, were "quite good." "Stagflation is a combination of stagnant growth and high inflation," Nick continued. "I think the earnings backdrop has been very supportive," Lee told CNBC's " Closing Bell " on Thursday.

Persons: Stocks, Dow Jones, Chris Zaccarelli, Brian Nick, Nick, we're, Rob Ginsberg, Ginsberg, Fundstrat's Tom Lee, Lee, CNBC's, Jeff Cox Organizations: Federal Reserve, Independent, Alliance, Dow Jones, Treasury, Macro, Wolfe Research Locations: U.S

☆ Wall Street could be in for another good quarter after an exuberant start to the year, history shows
▼ + stars: | 2024-03-28 | by ( Sarah Min | ) www.cnbc.com time to read: +7 min

Wall Street could be in for another solid quarter as stocks have embarked on a strong start to the year. Specifically, in the second quarter, the S & P 500 was higher 9 out of 11 times, averaging a 2.7% gain. Significantly, two occurrences of those 10% first-quarter gains Detrick reviewed took place during election years, with the S & P 500 ending higher on the year. In 1976, the S & P 500 went on to register a 1.5% increase in the second quarter, and a 4.6% jump for the rest of the year. The Wall Street firm maintained its year-end S & P 500 target of 5,050, representing a 3.8% slide from Wednesday's close.

Persons: Ryan Detrick, We've, there'd, Detrick, CNBC's, Research's Sam Stovall, Stovall, Piper Sandler, Craig Johnson, Brian Nick, Nick, John Stoltzfus, Ayako Yoshioka, Yoshioka, CFRA's Stovall, FactSet Organizations: Nvidia, VanEck Semiconductor, Dow Jones, Carson Group, Macro, PMI, Manufacturing, ADP, Survey, Services PMI, Weston Holdings, Conagra Brands, Consumer Credit Locations: U.S

☆ All eyes will be on the Federal Reserve's interest rate outlook next week, Nvidia conference on deck
▼ + stars: | 2024-03-15 | by ( Sarah Min | ) www.cnbc.com time to read: +5 min

How the Federal Reserve plans to proceed with interest rates will be in focus next week after some recent signs of hotter inflation muddied the outlook. In December, policymakers had penciled in at least three quarter percentage point rate cuts in 2024. On Friday, stocks were headed for a losing week even after the S & P 500, for example, notched a fresh closing record just this week. The chipmaker will be under increased scrutiny next week as CEO Jensen Huang takes the stage for the company's annual AI conference. TD Wealth's Vaidya anticipates four rate cuts coming in the third and fourth quarters, though he said that outlook will remain data dependent.

Persons: Sid Vaidya, Jensen Huang, Lorie Logan, Molly McGown, McGown, Brian Nick, Wealth's Vaidya, Nick, Mills, —, Samantha Subin Organizations: Federal Reserve, Fed, Nvidia, Dallas, TD Securities, Securities, McGown, Bank of America, Housing, Micron Technology, Philadelphia Fed, PMI, PMI Manufacturing, PMI Services SA, Nike, FedEx, Darden Locations: U.S, NAHB

☆ Fox News founder Rupert Murdoch deposed in Smartmatic election lawsuit
▼ + stars: | 2023-11-28 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +2 min

Rupert Murdoch, chairman of News Corp and co-chairman of 21st Century Fox, arrives at the Sun Valley Resort of the annual Allen & Company Sun Valley Conference, July 10, 2018 in Sun Valley, Idaho. Rupert Murdoch is being deposed Tuesday as part of the $2.7 billion defamation lawsuit filed against Fox Corp. by the voting technology company Smartmatic, a source familiar with the matter told CNBC. It is the second time this year that Murdoch, 92, has been deposed in a high-stakes defamation lawsuit accusing Fox News of airing damaging lies about the 2020 U.S. presidential election. Fox paid $787.5 million to settle Dominion's lawsuit, nearly half of the $1.6 billion figure initially demanded by the voting company. Murdoch officially stepped down as chairman of Fox and News Corp. earlier this month, putting his son Lachlan in charge of both.

Persons: Rupert Murdoch, Murdoch, Donald Trump, Fox, Joe Biden, Maria Bartiromo, Jeanine Pirro, Lou Dobbs, Rudy Giuliani, Sidney Powell, Lachlan, Brian Nick, CNBC's Organizations: News Corp, Century Fox, Allen & Company Sun Valley Conference, Fox Corp, CNBC, Fox News, Dominion Voting Systems, Fox, Trump, New York Supreme Locations: Sun Valley , Idaho, Los Angeles, New York, York

☆ Raj Shah out at Fox in wake of historic Dominion settlement
▼ + stars: | 2023-06-09 | by ( Oliver Darcy | ) edition.cnn.com time to read: +2 min

New York CNN —Raj Shah, the Fox Corp. brand protection executive who pushed Fox News in an even more pro-Trump direction after the 2020 election, has left the company. “Raj brought talent and creativity to his role at Fox,” Fox spokesperson Brian Nick told CNN on Thursday. Hear what Fox News viewers think about the Dominion settlement 03:30 - Source: CNNA cache of internal Fox communications brought to light in Dominion Voting Systems’ massive defamation lawsuit against the right-wing network included several messages from Shah. “This is the kinda s—t that will kill us,” he wrote, according to legal filings. We cover it wall to wall and then we burn that down with all the skepticism.”

Persons: Raj Shah, “ Raj, ” Fox, Brian Nick, “, ” Shah, Trump, Shah, Neil Cavuto’s, Kayleigh McEnany, Fox, Joe Biden, Lachlan Murdoch, Suzanne Scott, Viet Dinh, Donald Trump, ”, Rudy Giuliani, Sidney Powell, texted Organizations: New, New York CNN, Fox Corp, Fox News, Trump, Fox, CNN Locations: New York

☆ Fox mogul Rupert Murdoch survived the phone-hacking scandal. Dominion's $1.6 billion lawsuit will test whether he can do it again.
▼ + stars: | 2023-04-16 | by ( Jack Newsham | ) www.businessinsider.com time to read: +15 min

Now, two voting-technology companies, Dominion Voting Systems and Smartmatic, want to make another Murdoch media property pay even more for Fox News's role in spreading election denial. But the phone-hacking scandal showed how Murdoch has weathered challenges to his power before. Another key difference from the phone-hacking scandal is the presence of written records that show Fox execs knew exactly what was going on. In the last quarter of 2022, Fox Corp. netted $321 million on $4.6 billion in revenue. And during the phone-hacking scandal, Murdoch showed fierce loyalty.

Companies Fox Corp FollowRupert Murdoch FollowWILMINGTON, Del, April 5 (Reuters) - Fox Corp (FOXA.O) executives Rupert and Lachlan Murdoch can be called to testify at this month's defamation trial over a $1.6 billion lawsuit claiming the media company lied about voter fraud in the 2020 U.S. presidential election, a judge said on Wednesday. Rupert Murdoch, the 92-year-old chair of Fox Corp, and his son, Lachlan Murdoch, its CEO, were not on the list of witnesses that Fox intends to make available for the trial, in a case brought by Dominion Voting Systems. Davis said Fox board member Paul Ryan, a former Republican speaker of the U.S. House of Representatives, could also be issued a trial subpoena. The judge said there was an objection by Fox to Rupert Murdoch's testimony which would probably have to be resolved at trial. The trial already features a parade of Fox's biggest on-air personalities, including Tucker Carlson, Sean Hannity and Maria Bartiromo.

When bond yields fall, their price rises. But asset managers that run large government bond portfolios still expect bond yields to rise and say they are selling into the rally, expecting the European Central Bank and the U.S. Federal Reserve stay hawkish. Legal and General Investment Management (LGIM), the UK-based $1.6 trillion asset manager, is also reducing its exposure to government bonds, taking profits following the bond rally. As selling gripped bank shares on Wednesday, money market pricing suggested traders were leaning towards a 25 basis-point Fed rate increase next week. "We expect rates to rise," agreed Brian Nick, chief investment strategist at $1.1 trillion U.S. asset manager Nuveen.

☆ Quotes: Global banks under pressure as SVB triggers contagion worries
▼ + stars: | 2023-03-14 | by ( ) www.reuters.com time to read: +8 min

LONDON, March 14 (Reuters) - The health of the global banking sector as interest rates rise remained in the spotlight on Tuesday in the wake of the collapse of Silicon Valley Bank (SVB). But days of wild swings in global markets and hefty losses in bank shares, left the outlook for the sector in focus. Banks are now faced with the classic problem that has threatened banks throughout history: a mismatch in terms between assets and liabilities." Hopefully we'll go over the next few days, whether or not the financial system is going to calm down or not. "It’s been an indiscriminate sell off in banking stocks, the financial sector repriced everywhere.

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