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☆ Nvidia’s earnings will be in focus next week as stocks try to sustain record levels
▼ + stars: | 2024-05-17 | by ( Sarah Min | ) www.cnbc.com time to read: +7 min

The S & P 500 broke above 5,300, also for the first time. The S & P 500 has notched record close after record close in 2024. This quarter, the top-performing S & P 500 sector is utilities, higher by 9%, followed by communication services, up by 4%. The S & P 500 and Nasdaq Composite each closed out a fourth straight week of gains. Sustaining all-time highs Nvidia's earnings will also be a key catalyst at a time when technicians are watching to see whether stocks can sustain the record levels they reached this week.

Persons: what's, they're, Jay Woods, hadn't, Piper Sandler's Harsh Kumar, Kumar, Jensen Huang, Blackwell, Zachary Hill, Chris Zaccarelli, Zaccarelli, Woods, Katie Stockton, Stockton, TJX Cos, Raymond James Thursday, Ralph Lauren Friday, Nick Wells Organizations: Nvidia, Federal Reserve, Dow Jones, Freedom Capital, Dow, Nasdaq, Independent, Alto Networks, Devices, Target, Chicago, PMI, New, . Kansas City Fed, Intuit Locations: Stockton, . Kansas

☆ Stock futures are little changed after S&P 500 closes above 5,300 for the first time: Live updates
▼ + stars: | 2024-05-15 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +1 min

Traders walk the floor during morning trading at the New York Stock Exchange (NYSE) on May 14, 2024 in New York City. Stock futures were near flat Wednesday evening after a lighter-than-expected inflation reading propelled the major averages to record highs. Futures tied to the Dow Jones Industrial Average inched lower by 18 points, or 0.05%. S&P 500 futures slipped 0.02%, while Nasdaq 100 futures hovered eked out a 0.07% gain. The Dow climbed 0.88%, while the broad-market S&P 500 gained 1.17%, breaking above 5,300 for the first time.

Persons: Dow, Dow Jones, Yung, Yu Ma, Armour Organizations: New York Stock Exchange, Stock, Dow Jones, Nasdaq, BMO Wealth Management, CNBC, Philadelphia Federal Reserve, Baidu Locations: New York City

☆ ISM manufacturing index declines while prices measure spikes
▼ + stars: | 2024-05-01 | 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 EmailISM manufacturing index declines while prices measure spikesCNBC's Rick Santelli reports on the latest economic data to cross the tape.

Persons: Rick Santelli

☆ Investors are hoping Big Tech earnings next week could revive a flagging bull market
▼ + stars: | 2024-04-19 | by ( Sarah Min | ) www.cnbc.com time to read: +7 min

The Big Tech earnings next week could revive a flagging market, or at least give investors direction into where stocks are going from here. Wall Street is hoping next week's megacap tech results will give investors insight into where the artificial intelligence trade is going from here, as a bounce in tech could lift the indexes. They're also hoping a slew consumer commentary will give investors insight into the state of the economy. However, he said any pullback in the tech names could give investors an opening to start "nibbling away" at additional exposure. Personal Income 10 a.m. Michigan Sentiment NSA final Earnings: T. Rowe Price Group , Colgate-Palmolive , Exxon Mobil , Chevron , AbbVie , Phillips 66

Persons: Tesla, They're, Kim Forrest, Elon Musk, Emily Leveille, Scott Ladner, Ladner, Horizon's Ladner, FactSet, Baker Hughes, Philip Morris, Lockheed Martin, Raymond James Financial, Rowe Price, Phillips Organizations: Big Tech, Google, Microsoft, Bokeh, Nasdaq, Investors, Deutsche Bank, Reuters, Thornburg Investment Management, Meta, Consumer, Visa, Chicago, Verizon Communications, Ameriprise, Truist, PMI, New, Richmond Fed, Enphase, Tesla, NextEra, Philip Morris International, Halliburton, United Parcel Service, PepsiCo, Lockheed, Raytheon Technologies, GE Aerospace, Grill, Business Machines, Lam Research, Ford Motor, Technology, Waste Management, Universal Health Services, Raymond, Boeing, Hilton Worldwide Holdings, . Kansas City Fed Manufacturing, Mobile, Capital, Financial Corp, Intel, Western Digital, Comcast, American Airlines Group, Southwest Airlines, Valero Energy, Caterpillar, Tractor Supply, Royal Caribbean Group, GE, PCE, NSA, Rowe Price Group, Colgate, Palmolive, Exxon Mobil, Chevron Locations: China, Europe, U.S, NextEra Energy, Freeport, McMoRan, . Kansas, Michigan, AbbVie

☆ A renowned market bear who called the dot-com bubble warns the AI and economic recovery narratives fueling stocks are weak as analyst optimism sours — and says the Fed is fueling a bubble as valuation
▼ + stars: | 2024-04-06 | by ( William Edwards | ) www.businessinsider.com time to read: +6 min

About 45% of changes to S&P 500 analysts' earnings estimates are upgrades, as shown in the chart below, down from 50% in early 2023. AdvertisementSociete GeneraleHistorically, analyst optimism has been a good indicator for the economy's direction. Below is the S&P 500's year-over-year percentage change along with the analyst optimism measure. He says the S&P 500 is in a bubble fueled by AI optimism and could fall as much as around 60%. He sees potential downside of 39% for the S&P 500.

Persons: —, Albert Edwards, Edwards, Powell's, Ed Yardeni, Let's, There's, Jeremy Grantham, David Rosenberg, Merrill Lynch Organizations: Service, Societe Generale, Business, Street, Nasdaq, Generale, Conference, Institute for Supply, subsiding, Fed, repo, Bureau of Labor Statistics, Bears, Rosenberg Research, policymaking

☆ Robert Kiyosaki, David Einhorn, and Gary Shilling are all worried about inflation — and so is the Fed
▼ + stars: | 2024-04-04 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

The central bank's current chief, Jerome Powell, is yet to defeat his mythical beast — and Wall Street is getting worried. Powell warned on Wednesday that the Fed's fight against inflation isn't over after annualized price growth accelerated to 3.2% in February. AdvertisementRaising the alarmBank of America analysts have suggested that stubborn inflation could mean the Fed doesn't start cutting rates until March next year. It's no wonder, then, that investors are waiting impatiently for the Fed to cut rates. Fundstrat's famously bullish boss, Tom Lee, proclaimed this week that it's dropping "like a rock" and the first rate cut is still likely to be in June.

Persons: —, Paul Volcker, Jerome Powell, Powell, Greenlight Capital's David Einhorn, Einhorn, Greenlight, Dad, Robert Kiyosaki, Gary Shilling, Julia La Roche, We've, Merrill Lynch's, they've, Shilling, It's, Fundstrat's, Tom Lee Organizations: Service, Federal, Business, of America, CNBC, Trust, Wall Street, Fed

☆ Wall Street is getting nervous about Tesla
▼ + stars: | 2024-04-02 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, we're looking at why Wall Street is getting nervous about Tesla . South China Morning PostEarnings season is approaching, and Wall Street's already ringing the alarm on a high-profile company. AdvertisementTesla won't report its full earnings until later this month, but Wall Street is preparing for trouble. One analyst called it a "nightmare" quarter for the company, while another firm labeled Tesla "a growth company with no growth." One strategy is getting more Tesla drivers subscribed to its Full Self-Driving software, which can run $199 monthly.

Persons: —, Wall, Insider's Beatrice Nolan, Tesla, It's, that's, Elon Musk, ANDERSEN, Alyssa Powell, Donald Trump's, Ken Griffin's, Claire Merchlinsky, MoviePass, Ted Farnsworth, Manoj Bhargava, Putin, Elvira Nabiullina's, Forbes, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Service, Business, Tesla, China, Bloomberg, Nvidia, Meta, Microsoft, Apple, Getty, BI Trump Media, SEC, Citadel, BI, Street Journal, Authentic Brands, Energy, Bank of Russia, The Locations: China, Russia's, Connecticut , Delaware , New York, Rhode Island, Wisconsin, New York, London

☆ Tuesday's market sell-off is what happens when stocks are 'priced for perfection,' says investor James Abate
▼ + stars: | 2024-04-02 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +2 min

Some of the key drivers that drove stocks to record highs in the first three months of the year are being undermined, leading to Tuesday's sell-off, according to investor James Abate. "Stocks are priced for perfection and for them to move higher or avoid a correction you needed rates to either go down and/or profits to move higher. Outside of macro and micro data, the stock market's woes have been exacerbated by rising geopolitical tensions, Abate added. The underperformance in the Russell 2000 small-cap index means that this market selloff isn't solely contained to high-flying tech stocks. Abate manages the Centre American Select Equity Fund, which has returned 8.9% year to date compared to its category average of 9.7%, according to Morningstar .

Persons: James Abate, Abate, Tesla, Russell, Wall Street's, Morningstar Organizations: Dow Jones, Nasdaq, Centre Asset Management, CNBC, Federal Reserve, Dow, American, Equity Fund, Apple, Microsoft, Nvidia Locations: Syria

☆ Why the Fed's first rate cut could be delayed until March 2025 if inflation stays stubbornly high
▼ + stars: | 2024-04-02 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Stubbornly high PCE inflation readings might make it difficult to lower them in June as many expect. BofA still expects three rate cuts this year, but says the next PCE readings will determine this. AdvertisementThat's because comparisons with last year's figures mean that year-over-year core PCE inflation is unlikely to decline further in the second half of 2024. "Base effects for year-over-year core PCE inflation are favorable through May, but unfavorable for six of the last seven months of the year," analysts said in a note. Prints of 30bp or more on the next two core PCE readings would probably take June off the table, particularly if activity holds up," they wrote.

Persons: BofA, —, it's, Jerome Powell's Organizations: Bank of America, Service, Bloomberg, Federal Reserve, Fed

☆ 10-year Treasury yield rises slightly as bets on June rate cuts cool down
▼ + stars: | 2024-04-02 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +1 min

The 2-year Treasury note yield was flat at 4.712%. The 10-year Treasury note yield rose slightly Tuesday, adding to its gains from the previous session, as traders reassessed the possibility of the Federal Reserve cutting rates in June. The ISM manufacturing index rose to 50.3, up from 47.8 in February and significantly better than the 48.1 Dow Jones consensus estimate. Markets interpreted the unexpected return of U.S. manufacturing growth "as reducing the chances of meaningful Fed rate cuts," Dutch bank ING said in a research note. The Fed also said at the time that it still expects three quarter-percentage point cuts by the end of the year.

Persons: Gregory Faranello, Jeff Cox, Fred Imbert Organizations: Federal Reserve, Dow Jones, ING, AmeriVet Securities Locations: U.S

☆ The market sees a less-than-50% chance of a June rate cut after hot factory data
▼ + stars: | 2024-04-01 | by ( Filip De Mott | ) www.businessinsider.com time to read: +1 min

Bond-market expectations of a June rate cut fell below 50% after strong factory data, according to Bloomberg data. ISM manufacturing data showed an expansion on Monday for the first time in 16 months. Inflation is in line with Fed hopes, but creates a "wait and see" situation for rate cuts, a former Fed official said. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementBond-market expectations of a June rate cut took a hit on Monday as new factory data pushed odds below 50%, according to Bloomberg data.

Persons: Bond, — Organizations: Bloomberg, Fed, Service, Business

The yield on the 2-year Treasury yield was flat at 4.593%. The 10-year U.S. Treasury yield fell slightly on Tuesday as investors weighed the previous day's data points and looked ahead to key inflation figures later in the week. Last week, the central bank indicated that rates will fall this year, although Chairman Jerome Powell stressed that the economic outlook remains uncertain. The Dallas Fed manufacturing index for March also fell to -14.4, below expectations, although the Chicago Fed national activity index improved. There are also several auctions on the slate, including of 17-week, 4-week and 8-week Treasury bills.

Persons: Jerome Powell, Raphael Bostic, Jim Reid, Reid Organizations: Treasury, Federal Reserve, Atlanta Fed, Deutsche, Dallas Fed, Chicago Fed, Richmond Locations: U.S

☆ Here’s why the Fed cares about the cost of your haircut and your doctor’s visit
▼ + stars: | 2024-03-10 | by ( Bryan Mena | ) edition.cnn.com time to read: +7 min

Overall, consumer prices rose 0.3% in January 2024 from December 2023, according to the latest Consumer Price Index. The Labor Department releases its Consumer Price Index for February on Tuesday. The drivers of services inflation have been threefold: Vehicle insurance, hospital insurance, and financial services. The US Labor Department releases its Consumer Price Index for February. The US Commerce Department releases February figures on retail sales in addition to January data on business inventories.

Persons: don’t abate, Price, it’s, Bell, Saira Malik, They’ve, I’ve, Biden, Joe Biden, I’m, ”, Biden’s, Read, Guess Organizations: Washington CNN, Federal Reserve, Labor Department, Oracle, Asana, Vail Resorts, US Labor Department, US Treasury Department, National Statistics, Adobe, Dollar, Sporting Goods, Getty, US Commerce Department, The New York Fed, Manufacturing Index, University of Michigan Locations: Nuveen, Thursday’s State, America

☆ Wall Street will try to maintain AI-fueled momentum in the final week of February, as inflation concerns linger
▼ + stars: | 2024-02-23 | by ( Sarah Min | ) www.cnbc.com time to read: +8 min

In the final week of February, Wall Street will strive to maintain its AI-fueled rally even as economic concerns linger and the Federal Reserve's favorite inflation measure is on deck. But many worry the writing is on the wall for these market leaders as economic and inflation risks linger. The 'lone cloud' of inflation The Fed's preferred inflation gauge will also be released in the week ahead. Investors are concerned that sticky inflation will mean that the Fed will hold onto its higher-for-longer interest rate policy. Next week will also be the final week of February, with stocks headed for another strong month of gains.

Persons: Goldman Sachs, Patrick McDonough, Europe's, PGIM's McDonough, McDonough, Charlie Ashley, Dhaval Joshi, Joshi, Ashley, John Williams, TJX Cos Organizations: Dow Jones Industrial, Nasdaq, Nvidia, Japan's Nikkei, Catalyst Funds, BCA Research, CPI, PPI, Dow, New, Dallas Fed, Fidelity National Information Services, Richmond Fed, eBay, Enterprise, Cruise Line Holdings, New York Federal Reserve Bank, York, Monster Beverage, Paramount Global, PCE Deflator, Chicago PMI, . Kansas City Fed Manufacturing, Hewlett Packard Enterprise, Autodesk, Body, Hormel, PMI, Manufacturing Locations: U.S, Lowe's, Chicago, . Kansas, Michigan

☆ 10-year Treasury yield dips as investors digest Fed rate decision, policy guidance
▼ + stars: | 2024-02-01 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

U.S. Treasury yields were mixed on Thursday as investors digested the latest interest rate decision from the Federal Reserve and clues about the path ahead for rate cuts. The Federal Reserve on Wednesday announced that it would keep interest rates unchanged for the fourth time in a row and provided fresh hints about the path ahead for interest rates. In a press conference following the interest rate decision, Fed Chairman Jerome Powell said it was unlikely that rates would be cut at the next Fed meeting in March. The Fed's policy statement, which was released alongside the rate decision, also indicated that further rate hikes would no longer be on the table. Elsewhere, the Bank of England is due to announce its latest interest rate decision on Thursday.

Persons: Jerome Powell, nonfarm, — Organizations: Treasury, U.S, Federal Reserve, Investors, Bank of England

☆ S&P 500 futures are little changed after Fed signals it's unlikely to cut rates in March: Live updates
▼ + stars: | 2024-01-31 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

S&P 500 futures were little changed Wednesday night following a dismal day for the major averages, after Federal Reserve Chair Jerome Powell signaled a March rate cut is unlikely. S&P 500 futures and Nasdaq 100 futures rose 0.14% and 0.25%, respectively. Wall Street is coming off a poor session for the major averages. The Dow Jones Industrial Average fell 317 points, or 0.8%, posting its worst day since December. Still, the major averages closed out January on a positive note, with each of the major indexes up more than 1% for the month.

Persons: Jerome Powell, Powell, Liz Young Organizations: New York Stock Exchange, U.S, U.S . Federal, Federal, Dow Jones Industrial, Nasdaq, Qualcomm, Dow Jones, Merck, Interactive, Royal, Apple Locations: U.S ., New York, Royal Caribbean

☆ The S&P 500 tops a record high that ‘clears the charts’ of resistance ahead of a week of earnings, inflation data
▼ + stars: | 2024-01-19 | by ( Sarah Min | ) www.cnbc.com time to read: +6 min

The S & P 500 rallied more than 1% on Friday, above both its closing and intraday records that it last reached in January 2022. "Meaning that when a major index like the S & P 500, like the Nasdaq 100, reaches a new all time high, what it does is, it clears the charts of resistance." For 2024, Wald anticipates the S & P 500 will end the year at the 5,400 level, representing a roughly 12% rise from Friday's close of 4,839.81. Inflation data, earnings ahead Next week will also bring the Fed's preferred inflation gauge for December, which is expected to confirm the recent trend of easing inflation. Leading Indicators Tuesday Jan. 23 10 a.m. Richmond Fed Index (January) Earnings: General Electric , Synchrony Financial , D.R.

Persons: it's, Katie Stockton, we've, Oppenheimer's Ari Wald, Wald, Dow Jones, That's, Dave Sekera, Sekera, Jan, Johnson, Lockheed Martin, Lockheed Martin Wednesday Jan, Kimberly, Clark, Northrop Organizations: Fed, Nasdaq, Morningstar Research Services, Richmond Fed, Synchrony, Raytheon Technologies, Verizon Communications, Halliburton, Johnson, Procter, Gamble, Lockheed, Lockheed Martin Wednesday, PMI, SA, PMI Manufacturing SA, PMI Services SA, Abbott Laboratories, Chicago, New, . Kansas City Fed Manufacturing, Northrop Grumman, Southwest Airlines, American Airlines, Comcast, PCE, Norfolk, American, CNBC Locations: Stockton, U.S, Horton, Freeport, McMoRan, . Kansas

☆ Weekly jobless claims post lowest reading since September 2022
▼ + stars: | 2024-01-18 | by ( Jeff Cox | ) www.cnbc.com time to read: +1 min

The labor market continued to show surprising resiliency in the early days of 2024, with initial jobless claims posting an unexpected drop last week. Initial filings for unemployment insurance totaled 187,000 for the week ended Jan. 13, the lowest level since Sept. 24, 2022, the Labor Department reported Thursday. The total marked a 16,000 decline from the previous week and came in below the Dow Jones estimate of 208,000. Along with the drop in weekly claims came an unexpected decline of 26,000 in continuing claims, which run a week behind. The total for continuing claims hit 1.806 million, below the FactSet estimate for 1.83 million.

Persons: Dow Jones Organizations: Labor Department, Labor, Federal Reserve, Philadelphia Fed Locations: Central

A Chinese flag flies outside a residential compound in Beijing on April 30, 2017. Greg Baker | Afp | Getty ImagesAsia-Pacific markets appear set to extend their declines Wednesday, ahead of a slew of economic data from China. Investors will also assess the Reuters Tankan manufacturing index for January, which is a leading indicator of the Bank of Japan's official quarterly Tankan survey that assesses business conditions in the country. In Australia, the S&P/ASX 200 extended its losing streak to a fourth day, falling 0.17% in early trade. Futures for Hong Kong's Hang Seng index stood at 15,793, pointing to a weaker open after the index led losses in Asia on Tuesday, closing at 15,865.92.

Persons: Greg Baker Organizations: Afp, Getty, Investors, Reuters, Bank of Japan's, Nikkei Locations: Beijing, Asia, Pacific, China, Australia, Chicago, Osaka

☆ Markets are underestimating the potential for an economic slowdown, and 'greedflation' won't help investors anymore, Societe Generale says
▼ + stars: | 2024-01-11 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewInvestors are underestimating the risk of an economic slowdown, and "greedflation" among companies can't prop up the market any longer, Société Générale said in a note this week. Firms hiking prices likely helped avoid a deeper slump in profits stemming from a slowing economy, Société Générale strategist Albert Edwards said. "The Greedflation driven surge in margins helped stop the profits slowdown turning into a deep downturn. A recession still poses a decent risk to the economy, though investors have warmed up to the prospect of a soft-landing.

Persons: —, Société Générale, they're, Société, Albert Edwards, Greedflation, Edwards, –, Evercore, quant, Andrew Lapthorne, David Rosenberg Organizations: Service, Business, Bureau of Labor Statistics, Federal Reserve, New, Fed, Institute of Supply, Evercore ISI

The official purchasing managers' index (PMI) fell to 49.4 in November from 49.5 in October, staying below the 50-point level demarcating contraction from expansion, data from the National Bureau of Statistics showed on Thursday. The new orders sub index contracted for a second consecutive month, while the new export orders component extended its decline for a ninth month. "Today's PMI reading will further raise expectations towards policy support," said Zhou Hao, economist at Guotai Junan International. "Fiscal policy will be under the spotlight and take centre stage over the coming year and will be closely monitored by the market." Factory PMI has contracted for seven out of the past eight months - rising above the 50-point mark only in September.

Persons: Goldman Sachs, Zhou Hao, Joe Cash, Kim Coghill, Jacqueline Wong Organizations: cnsphoto, REUTERS, National Bureau, Statistics, Standard Chartered, PMI, Guotai, Thomson Locations: Zunyi, Guizhou province, China, BEIJING

The yield on the 10-year Treasury was more than 1 basis point lower at 4.468%. The yield on the 2-year Treasury was last down by 1 basis point at 4.946%. U.S. Treasury yields held steady as markets reopened after Friday's shortened trading day and investors awaited economic data that could affect the Federal Reserve's monetary policy. Investors will be carefully scanning the data for hints about the state of the economy and whether it is cooling as interest rates remain elevated. Fed policymakers have so far given little indication about how long rates will remain elevated for.

Persons: Jerome Powell Organizations: Treasury, U.S, Dallas Fed, Investors

☆ Wall Street will seek confirmation the Fed is done in next week's big inflation data
▼ + stars: | 2023-11-10 | by ( Sarah Min | ) www.cnbc.com time to read: +6 min

Economists polled by FactSet expect U.S. inflation to have risen just 0.1% last month and 3.3% from the year-ago period. Cracks in consumer data Investors will also watch for the October retail sales data for insight into the consumer, who has thus far proven resilient even in the face of higher interest rates and inflation. Investors will also be watching for the October producer price index (PPI) data on Wednesday, as well as housing data on Friday. Monday Nov. 13 Earnings: Tyson Foods Tuesday Nov. 14 8:30 a.m. CPI (October) 8:30 a.m. Hourly Earnings final (October) 8:30 a.m. Average Workweek final (October) Earnings: Home Depot , Charles Schwab Wednesday Nov. 15 8:30 a.m.

Persons: Amy Magnotta, It's, There's, Gregory Daco, he'll, Ned Davis Research's, Joe Kalish, NDR's Kalish, Jeff Klingelhofer, Magnotta, Tyson, Charles Schwab, John Williams Organizations: Federal, Dow Jones Industrial, Nasdaq, Federal Reserve, Ategenos, FactSet, Thornburg Investment Management, Walmart, CPI, PPI, Retail, Palo Alto Networks, Price, Philadelphia Fed, Manufacturing, . New York Federal Reserve, . Kansas City Fed Manufacturing, Ross Stores, Body, Housing Locations: . New, NAHB, . Kansas, Bath

☆ 'Powell has to be on high alert': Wharton professor Jeremy Siegel says the Fed needs to consider rate cuts a lot sooner than the market thinks
▼ + stars: | 2023-11-06 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Wharton professor Jeremy Siegel said the Federal Reserve needs to consider interest rate cuts a lot sooner than expected. "I think Jay Powell has to be on high alert because we did get some weak data," Siegel said. AdvertisementAdvertisementWharton professor Jeremy Siegel said Monday that the Federal Reserve needs to stay flexible and consider interest rate cuts a lot sooner than the market expects. He ultimately expects the Fed's next interest rate move to be a cut rather than a hike, and it should come sometime in 2024. I think the next move is a cut and it might come even sooner than we think given the data," Siegel said.

Persons: Wharton, Jeremy Siegel, Jay Powell, Siegel, —, I'm, he's, Powell, It's, He's Organizations: Federal Reserve, CNBC, Service

☆ S&P 500 futures tick higher as attention turns from Fed to latest earnings reports: Live updates
▼ + stars: | 2023-11-01 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

S&P 500 futures inched higher Wednesday night as investors shifted focus from the Federal Reserve's policy decision to the latest batch of corporate earnings reports. S&P 500 futures and Nasdaq 100 futures each rose around 0.2%. DoorDash climbed more than 7% on earnings that surpassed Wall Street forecasts, while Etsy fell 5% after management warned of a challenging environment for consumer discretionary spending. The moves follow a winning session on Wall Street that also marked the start of a new trading month. The Dow climbed more than 200 points on Wednesday, while the S&P 500 and Nasdaq Composite each ended up more than 1%.

Persons: SolarEdge, DoorDash, Etsy, Dow, Jerome Powell, Powell, Chris Zaccarelli, payrolls, Eli Lilly Organizations: Federal, Nasdaq, Dow Jones, Independent, Alliance, Fox, Apple, Paramount

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