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☆ Treasury yields hold steady as investors look to data, Fed speaker comments in week ahead
▼ + stars: | 2024-05-20 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

ET, the yield on the 10-year Treasury yield was at 4.4179% after falling by less than one basis point. The 2-year Treasury yield was last up by less than one basis point to 4.8180%. U.S. Treasury yields were little changed on Monday as investors looked ahead to fresh economic data and comments from Federal Reserve officials slated for the week. Investors awaited the latest economic data and comments from Federal Reserve officials as they weighed the state of the economy and the outlook for interest rates. The Fed left interest rates unchanged at its last meeting, and indicated that interest rates would not be cut until policymakers were more confident about inflation easing to its 2% target.

Organizations: U.S, Treasury, Federal Reserve, Investors, CPI

☆ Gold hits record peak as rate cut bets burnish appeal, silver jumps
▼ + stars: | 2024-05-20 | by ( ) www.cnbc.com time to read: +2 min

Gold prices hit an all-time high on Monday as a slowing U.S. inflation trend boosted expectations that the Federal Reserve could deliver its first interest rate cut soon, while silver scaled a more than 11-year peak. Spot gold was up 0.9% at $2,436.76 per ounce, as of 0340 GMT after hitting a record high of $2440.49 earlier in the session. Data last week showed signs of cooling inflation and traders now expect a 65% chance of a U.S. rate cut by September. "Gold prices sneaked in a cheeky record high ahead of China's (market) open on Monday. Spot silver rose 2.5% to $32.28 after hitting an over 11-year high.

Persons: Kyle Rodda, Bullion, Matt Simpson, Wang Tao Organizations: Fort, Federal Reserve, Index, Palladium Locations: Fort Knox Alaska, Kinross, Tetlin , Alaska, U.S, China's, China

☆ Target lowering prices on 5,000 frequently bought items
▼ + stars: | 2024-05-20 | by ( Rob Wile | ) www.cnbc.com time to read: +2 min

Target said Monday it will lower prices on approximately 5,000 frequently bought items as it seeks to stay competitive amid signs consumers are experiencing price fatigue. It had already cut prices on some 1,500 other items. "Our teams work hard to deliver great value every day, and these new lower prices across thousands of items will add up to additional big savings for the millions of consumers that shop Target each week for their everyday needs." As the rate of annual inflation remains stuck above 3% and the Fed's key interest rate remains unchanged, many consumers are starting to pull back on spending and becoming more selective about what they purchase. One of Target's chief competitors, Walmart , recently signaled that even higher-income consumers were turning toward its offerings as "wallets are still stretched."

Persons: Rick Gomez, Chris Kempczinski, We've, Jack Rainey Organizations: Walmart, CNBC

☆ Stock market today: US stocks mixed as Wall Street gears up for big week of AI updates
▼ + stars: | 2024-05-20 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

US stocks traded mixed on Monday after last week's rally to record highs. Investors are preparing for a big week of AI updates, with Nvidia earnings on deck. Microsoft is set to unveil new product and AI updates at its 2024 Build conference. AdvertisementUS stocks were mixed on Monday, wavering slightly after last week's run to record highs in the wake of an encouraging April inflation report. Microsoft's 2024 Build Conference is the other big AI event of the week, and will showcase new hardware and software products from the company.

Persons: —, Copilot, Dan Ives Organizations: Nvidia, Microsoft, Service, Investors, Excel, Federal, PMI Locations: Here's

☆ Dollar calm as traders await clues on U.S. rate path
▼ + stars: | 2024-05-20 | by ( ) www.cnbc.com time to read: +4 min

In this photo illustration, a person seen holding a 100 US dollar bill in his hand. The dollar was broadly steady on Monday as investors awaited further clues to help chart the U.S. interest rate path in the wake of cautious comments from Federal Reserve officials, even as inflation shows signs of cooling. The Japanese yen was flat at 155.74 per dollar, with traders on alert for any signs of government intervention. That has prompted traders to trim the amount of easing expected this year to about 46 bps, with only a rate cut in November fully priced in. In other currencies, sterling touched a two-month high of $1.2711 ahead of the crucial UK inflation report due on Wednesday.

Persons: Brian Jacobsen, Powell, Jackson, Flash PMIs, Paul Mackel, BoE, Charu Chanana Organizations: Federal Reserve, Annex Wealth Management, ANZ, European Central Bank, Bank of England, HSBC, New Zealand, Reserve Bank of New, Saxo Locations: Tokyo, Germany, U.S, Reserve Bank of New Zealand

Mortgage rates dropped last week following the release of April's Consumer Price Index data, which showed that inflation slowed last month. Mortgage rates are expected to go down as inflation decelerates toward the Fed's 2% target level. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. Now that the Fed has paused hiking rates, mortgage rates have come down a bit. Once the Fed starts cutting rates, which is likely to happen this year, mortgage rates should fall even further.

Persons: Freddie Mac Organizations: April's, Federal Reserve, Mortgage, Zillow, Fed Locations: Chevron

☆ Nvidia and 2 other portfolio stocks report earnings next week. Here's what we want to see from each
▼ + stars: | 2024-05-18 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

All three major averages closed higher for the week, driven by softer retail sales and consumer price data for April. And the data has been mostly good, with 78% reporting a positive earnings surprise and 60% delivering a positive sales surprise. But we will get earnings from three portfolio companies, including one of our two "own, don't trade" stocks. In the week ahead, three portfolio companies will report results, while it will be fairly slow for economic data, except for a couple of housing reports. Earnings : After a week without earnings from any Club stocks, we'll get three this coming week.

Persons: Dow Jones, Dow, we'll, TJX, Blackwell, Li Auto, James Hardie, Ralph Lauren Corporation, Booz Allen, Jim Cramer's, Jim Cramer, Jim, Jensen Huang, Justin Sullivan Organizations: Wall, Federal Reserve, Dow, Nasdaq, CPI, Palo Alto Networks, Palo, TJX Companies, Nvidia, Nexxen, Alto Networks, Video Communications, Trip.com, James Hardie Industries N.V, Nordson Corp, Keysight Technologies, ZIM Integrated Shipping Services, Lowe's Companies, Eagle Materials, Toll, ViaSat, Urban Outfitters, Target Corp, Devices, Dorian LPG, Dycom, Golden Ocean Group, Petco, Wellness Company, Sonoma, WSM, VF Corp, Star Bulk Carriers Corp, LiveRamp Holdings, Chemical & Mining Co, Grupo Supervielle S.A, BJ's Wholesale, Technologies, TD Bank Group, Intuit, Ross Stores, Booz Allen Hamilton Holding, Mesa Laboratories, Jim Cramer's Charitable, CNBC, Intelligence, SAP Center Locations: Palo Alto, Williams, Chile, San Jose , California

☆ Market sets record — Breaking down whether the bulls are in the clear or a peak is imminent
▼ + stars: | 2024-05-18 | by ( Michael Santoli | ) www.cnbc.com time to read: +7 min

You can't argue with a market making new record highs, though it's fair game to interrogate the tape about its assumptions and intentions. With the Dow Jones Industrial Average closing above 40,000 for the first time Friday and the S & P 500 settling above 5,300 after hitting a fresh all-time high Wednesday, the advice of history suggests not overthinking it. Keith Lerner, strategist at Truist, marks up a long-term S & P 500 chart to show times when it was at an all-time high. Brian Belski, strategist at BMO, last week lifted his year-end S & P 500 target to a Street-high 5,600 . And, quite remarkably, the stock market low of October 2022 occurred at an S & P 500 forward P/E above 15, with unemployment below 4% and in mid-economic expansion.

Persons: Stocks, Keith Lerner, Ned Davis, Brian Belski, Leuthold, Doug Ramsey Organizations: Treasury, Dow Jones, Dow, Ned Davis Research, Investment, Bank, Federal, BMO, Citi U.S, Vegas, Fed, Leuthold Locations: U.S

☆ Why Americans' confidence in finding a new job is tanking even as the labor market is humming along
▼ + stars: | 2024-05-18 | by ( Jacob Zinkula | Madison Hoff | ) www.businessinsider.com time to read: +7 min

Why Americans might be getting worried about the job marketIn some ways, Americans' growing pessimism in the job market is perplexing. That's because the job market has become more challenging than it was a couple of years ago, when the Great Resignation was at its peak. So, it's possible that some Americans in certain industries are facing a job market where openings are far from abundant. For example, there's some evidence that the job market for high-wage roles has cooled over the past year. Julia Pollak, the chief economist at ZipRecruiter, told Business Insider earlier this month after April's labor market figures were released by the Bureau of Labor Statistics that it is "no longer a white-hot labor market" or a job "candidate's market in every industry where workers can get whatever they want."

Persons: —, they'd, hasn't, What's, Joanne Hsu, Julia Pollak Organizations: Service, York Fed's Survey, Consumer, Business, NY, of Labor Statistics, Bureau of Labor Statistics, New, Fed, LinkedIn, NY Fed, University of, Labor Locations: York

☆ It's going to be a long summer for the stock market
▼ + stars: | 2024-05-18 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +4 min

The stock market is headed for a disappointing few months. And I think we should also be prepared to see some nasty aggressive selloff along the way," Morrison said. "Political volatility is, in itself… going to trip over stock market volatility," McGough warned. More extreme forecasters have predicted a market crash as steep as 65%, as equities mirror previous bubbles. You're probably going to come back without the material move one way or the other," McGough said.

Persons: there's, —, David Morrison, Morrison, Will McGough, McGough Organizations: Service, Wall Street, Business, Trade, Dow Jones Industrial, Federal Reserve, Prime Capital Investment Advisors, Fed, New York Fed, Treasury

☆ Economic data masks the fact that the U.S. economy is 'segmented': Strategist
▼ + stars: | 2024-05-17 | 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 EmailEconomic data masks the fact that the U.S. economy is 'segmented': StrategistStephen Dover from Franklin Templeton Investments talks about the U.S. economy, inflation outlook and the Fed's policy effectiveness.

Persons: Stephen Dover Organizations: Franklin Templeton Investments Locations: U.S, Franklin

☆ More and more stocks are joining the market's rally to new highs. Here's why and when to buy
▼ + stars: | 2024-05-17 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

The S & P 500 on Wednesday closed above 5,300 for the first time ever. The last time the S & P 500 Short Range Oscillator was this overbought was back in December. The upswing picked up after the S & P 500's most recent bottom on April 19 and pushed to this week's records. .SPX 1Y mountain S & P 500 - 1 year There is no telling whether the current overbought market will follow a similar pattern. Perhaps more telling, four of the bottom six sectors saw earnings estimates revised higher since the end of the first quarter.

Persons: Dow, Morgan Stanley, Stocks, it's, Rather, Jim Cramer's, Jim Cramer, Jim, Victor J Organizations: Federal Reserve, Palo Alto Networks, CNBC, Visitors, New York Stock Exchange, Blue, Bloomberg, Getty

☆ Stock market today: Dow crosses 40,000 for the first time as stocks extend record-setting run
▼ + stars: | 2024-05-16 | by ( Max Adams | ) www.businessinsider.com time to read: +2 min

The Dow Jones Industrial Average surpassed 40,000 for the first time ever Thursday. Stocks are on a record-setting run after a soft April inflation reading, with the S&P 500 extending gains after a record close on Wednesday. AdvertisementThe Dow Jones Industrial Average surpassed 40,000 for the first time ever on Thursday, with stocks extending gains following Wednesday's cooler inflation reading for April. Advertisement"The overall trend looks reasonably good," Williams said regarding inflation during an interview with Reuters. AdvertisementHere's where US indexes stood at 11:00 a.m. on Thursday:Here's what else is going on today:AdvertisementIn commodities, bonds, and crypto:

Persons: Stocks, —, John Lynch, Dow, Tom Barkin, Patrick Harker, Loretta Mester, Raphael Bostic, John Williams, Williams, Chris Zaccarelli Organizations: Dow Jones Industrial, Service, Federal Reserve, Comerica Wealth Management, Reuters, Labor Department, GameStop, AMC, Here's

☆ Atlas Merchant Capital CEO: Interest rates around 5 to 5.50 percent are fantastic for banks
▼ + stars: | 2024-05-16 | 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 EmailAtlas Merchant Capital CEO: Interest rates around 5 to 5.50 percent are fantastic for banksBob Diamond, Atlas Merchant Capital CEO and former Barclays CEO, joins ‘Squawk Box’ to discuss markets, the Fed's fight against inflation, and more.

Persons: Bob Diamond Organizations: Atlas Merchant Capital, Barclays

☆ The consumer slowdown is here and its flashing a recession warning for the economy
▼ + stars: | 2024-05-16 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +4 min

Consumer spending is slowing, and it's a warning shot for the US economy as it navigates the approach to a soft or a hard landing. Meanwhile, March retail sales were revised downward, with spending rising 0.6% instead of the initially reported 0.7%. The retail sales number was sluggish with a capital 'S,'" economist David Rosenberg said in a note this week. A hard landing has been postponed partly because of the strength of consumer spending in 2023, he wrote previously. The New York Fed sees a 50% chance that the economy will tip into recession by April 2025.

Persons: David Rosenberg, Rosenberg, Primerica, Danielle DiMartino Booth, who's, Booth, Schwab, I've Organizations: Service, Business, Conference, New, Fed Locations: American, York

This means mortgage rates could start to go down more substantially as we approach the fall. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates would impact your monthly payments. 15-Year Fixed Mortgage Rates Nearly Flat (+0.02%)The average 15-year mortgage rate is 6.05%, just 2 basis points higher than last week. Mortgage rates started ticking up from historic lows in the second half of 2021 and increased over three percentage points in 2022. Mortgage rates also rose dramatically in 2023, though they started trending back down toward the end of the year.

Persons: That's, you'll, It's, refinance Organizations: Federal, Federal Reserve, Zillow, FHA Locations: Chevron

☆ Buckle up America: Powell says interest rates will likely stay higher for longer as inflation stubbornly refuses to come down
▼ + stars: | 2024-05-16 | by ( Ayelet Sheffey | Madison Hoff | ) www.businessinsider.com time to read: +6 min

Read previewInflation and interest rates are still high, but Americans shouldn't count on any relief just yet. Advertisement"The status of the battle against inflation requires that interest rates remain elevated in the near-term," Hamrick said. "The first quarter in the United States was notable for its lack of further progress on inflation," Powell said during the panel. But while job seekers and workers may find this cooldown concerning, that moderation is also welcome and the labor market is still strong. "Paired with high borrowing costs — like high interest rates on your credit cards — and the current economy can feel quite uncomfortable," Renter added.

Persons: —, That's, Mark Hamrick, Hamrick, Jerome Powell, Powell, Joanne Hsu, Nick Bunker, Ted Rossman, Rossman, Elizabeth Renter, Renter, it's Organizations: Service, Federal Reserve, Bureau of Labor Statistics, CPI, Business, Federal, University of Michigan, North America Locations: Amsterdam, United States, —

☆ Fed's Bostic: Pleased with inflation data in April, but Fed is not yet there
▼ + stars: | 2024-05-16 | 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 EmailFed's Bostic: Pleased with inflation data in April, but Fed is not yet thereCNBC's Steve Liesman joins 'Closing Bell Overtime' with the latest round of Fed comments on inflation.

Persons: Steve Liesman

☆ Interest-rate cuts could be coming this fall, adding another wrinkle to an election set to focus on the economy
▼ + stars: | 2024-05-16 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

In today's big story, inflation is cooling just in time for a US presidential election that will likely focus heavily on the economy . This story is available exclusively to Business Insider subscribers. The big storyThe economy and the electionAnna Moneymaker/Getty, Anna Moneymaker/Getty, Tyler Le/BISometimes, the biggest surprise is when there isn't one at all. AdvertisementOn Wednesday, Biden and Trump agreed to face off in two debates, the first coming in June . Now he has 18 direct reports, according to an internal org chart seen by Business Insider.

Persons: —, Anna Moneymaker, Tyler Le, haven't, Insider's Madison Hoff, they're, Jennifer Sor, Ed Yardeni, Jerome Powell hasn't, Powell, Donald Trump, Joe Biden, Trump, Biden, Trump's, Alyssa Powell, Keith Gill's, Jim Simons, Shaw, Goldman Sachs, David Kostin, Sameer Samat, Sundar Pichai, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Service, Business, Biden, White, Democratic, Renaissance Technologies, Sigma, Bloomberg, Android, Google, Microsoft, Apple, Walmart Locations: New York, London

☆ This is the sweet spot in bonds right now, according to Wells Fargo — and it can yield up to 5%
▼ + stars: | 2024-05-16 | by ( Michelle Fox | ) www.cnbc.com time to read: +2 min

As investors navigate the Federal Reserve's higher-for-longer interest rate policy — and eventual rate cuts down the road — they should make sure they have their fixed-income portfolio positioned properly, according to Wells Fargo. The Fed last raised rates in July 2023, bringing the fed funds rate to a range of 5.25% to 5.5%. But investors were buoyed by news Wednesday that the consumer price index showed inflation eased slightly in April. Right now, Wells Fargo anticipates two rate cuts this year and just one in 2025, bringing the Fed's target rate to a range of 4.5% to 4.75% by the end of next year, said Scott Wren, senior global market strategist at Wells Fargo Investment Institute. Investors can get exposure to intermediate-term bonds through mutual funds or exchange-traded funds.

Persons: Jerome Powell, Wells, Scott Wren, Wren Organizations: Federal, Wells, Wells Fargo Investment Institute Locations: Wells Fargo

See more mortgage rates on Zillow Real Estate on ZillowMortgage Refinance Rates TodayMortgage type Average rate today This information has been provided by Zillow. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's interest rates will affect your monthly payments. 30-Year Fixed Mortgage RatesThis week's average 30-year fixed mortgage rate was 7.09%, according to Freddie Mac. 15-Year Fixed Mortgage RatesAverage 15-year mortgage rates inched up to 6.38% this week, according to Freddie Mac data. Mortgage rates increased dramatically over the last two years, but they're expected to go down at some point this year.

Persons: Fannie Mae, you'll, Freddie Mac, it's Organizations: Zillow, Federal Reserve Locations: Chevron

☆ Why mortgages and credit card rates could stay high through 2025
▼ + stars: | 2024-05-15 | by ( Mike Winters | ) www.cnbc.com time to read: +1 min

If you were holding out for lower interest rates on credits cards or mortgages, expect to only see modest relief for the remainder of the year and much of 2025. That's because the Federal Reserve is keeping its benchmark interest rate steady to discourage borrowing, which it will do until there's more evidence that inflation is under control. While the annual inflation rate has fallen from a peak of 9.1% in June 2022, it's been hovering closer to 3% for the past 10 months. The year-over-year inflation rate is now 3.4% — down slightly from 3.5% in March. For that reason, the central bank is expected to keep interest rates relatively high well into 2025.

Persons: it's, That's, there's Organizations: Federal Reserve

☆ Watch CNBC’s full interview with Main Street’s James Demmert and Nationwide Mutual’s Kathy Bostjancic
▼ + stars: | 2024-05-15 | 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 EmailWatch CNBC’s full interview with Main Street’s James Demmert and Nationwide Mutual’s Kathy BostjancicMain Street’s James Demmert and Nationwide Mutual’s Kathy Bostjancic join 'Power Lunch' to discuss what today's CPI report and what it means for the market and Fed's next move.

Persons: James Demmert, Kathy Bostjancic Organizations: Nationwide

☆ Inflation data keeps rate cut likelihood alive, says Nationwide Mutual’s Kathy Bostjancic
▼ + stars: | 2024-05-15 | 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 data keeps rate cut likelihood alive, says Nationwide Mutual’s Kathy BostjancicMain Street’s James Demmert and Nationwide Mutual’s Kathy Bostjancic join 'Power Lunch' to discuss what today's CPI report and what it means for the market and Fed's next move.

Persons: Kathy Bostjancic, James Demmert Organizations: Nationwide

☆ Watch Fed Chair Jerome Powell speak live to bankers group in Amsterdam
▼ + stars: | 2024-05-14 | by ( Jeff Cox | ) www.cnbc.com time to read: +1 min

Please refresh the page if you do not see a player above at that time.] Federal Reserve Chair Jerome Powell speaks Tuesday to the annual general meeting of the Foreign Bankers' Association in Amsterdam. Policymakers remain concerned that inflation is not showing enough evidence that it is moving toward the Fed's 2% annual target. Recent data points have shown prices both at the consumer and wholesale levels running hotter than expected while consumer sentiment also has shown elevated expectations over the short term. Markets still expect the Fed to lower rates later this year, and Powell said following the FOMC meeting that he thinks it unlikely that rates will increase from here.

Persons: Jerome Powell, Powell, Read Organizations: Foreign Bankers ' Association in, Market, CNBC, YouTube Locations: Foreign Bankers ' Association in Amsterdam

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