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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Fundstrat's Tom Lee on market outlook and inflation readingsTom Lee, Fundstrat Global Advisors, joins 'Squawk on the Street' to discuss the latest job openings data, the Fed rhetoric that would back up inflation's trajectory, and Lee's insights from Powell's Jackson Hole speech.
Persons: Fundstrat's Tom Lee, Tom Lee, Powell's Jackson Organizations: Fundstrat Global Advisors
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInflation on a 'glide path lower' following JOLTs data and other signs, says Fundstrat's Tom LeeTom Lee, Fundstrat Global Advisors, joins 'Squawk on the Street' to discuss the latest job openings data, the Fed rhetoric that would back up inflation's trajectory, and Lee's insights from Powell's Jackson Hole speech.
Persons: Tom Lee Tom Lee, Powell's Jackson Organizations: Fundstrat Global Advisors
[1/2] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 19, 2023. The pan-European STOXX 600 index (.STOXX) rose 0.89% and MSCI's gauge of stocks across the globe (.MIWD00000PUS) gained 0.60%. Emerging market stocks rose 0.65%. U.S. crude rose 0.34% to settle at $80.10 per barrel, while Brent settled at $84.42, down 0.07% on the day. Gold gained ground as investors continue to digest Fed Chairman Jerome Powell's Jackson Hole commentary last week and looked forward to the week's economic data.
Persons: Brendan McDermid, Chuck Carlson, Carlson, Jerome Powell, China's, Brent, Sterling, Jerome Powell's Jackson, Stephen Culp, Neil Mackenzie, Amanda Cooper, Alex Richardson, Diane Craft Organizations: New York Stock Exchange, REUTERS, payrolls, PMI, Federal Reserve, Horizon Investment, Beijing, Labor, Commerce, Dow Jones, Nasdaq, Japan's Nikkei, Gulf, U.S . Treasury, Fed, Thomson Locations: New York City, U.S, Hammond , Indiana, Jackson Hole , Wyoming, China, Asia, Pacific, Japan, London
U.S. stocks rally, crude rises as crucial data awaits
  + stars: | 2023-08-28 | by ( Stephen Culp | ) www.reuters.com   time to read: +4 min
[1/2] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 19, 2023. European stocks were sharply higher with technology shares leading the way, with an assist from China-exposed industrials. The pan-European STOXX 600 index (.STOXX) rose 0.85% and MSCI's gauge of stocks across the globe (.MIWD00000PUS) gained 0.69%. Emerging market stocks rose 0.65%. Gold gained ground as investors continue to digest Fed Chairman Jerome Powell's Jackson Hole commentary last week and looked forward to the week's economic data.
Persons: Brendan McDermid, Powell, Robert Pavlik, Jerome Powell, China's, Brent, Sterling, Jerome Powell's Jackson, Stephen Culp, Neil Mackenzie, Amanda Cooper, Alex Richardson Organizations: New York Stock Exchange, REUTERS, payrolls, PMI, Federal Reserve, Dakota Wealth, Beijing, Labor, Commerce, Dow Jones, Nasdaq, Japan's Nikkei, U.S . Treasury, Thomson Locations: New York City, U.S, Fairfield , Connecticut, Jackson Hole , Wyoming, China, Asia, Pacific, Japan, London
People are seen on Wall Street outside the New York Stock Exchange (NYSE) in New York City, U.S., March 19, 2021. Focus now shifts to a report on the personal consumption expenditures price index, the Fed's preferred inflation gauge, which is set to be released on Thursday and the non-farm payrolls data due on Friday. ET, Dow e-minis were up 74 points, or 0.22%, S&P 500 e-minis were up 6.5 points, or 0.15%, and Nasdaq 100 e-minis were up 41.5 points, or 0.28%. Horizon Therapeutics' shares rose 5.2%. Reporting by Shristi Achar A and Amruta Khandekar in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.
Persons: Brendan McDermid, Stocks, Jerome Powell, Mark Haefele, Powell's Jackson, Shristi Achar, Shounak Dasgupta Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Fed, UBS Global Wealth Management, U.S, PDD Holdings, Baidu, Dow e, U.S . Federal Trade Commission, Horizon Therapeutics, Therapeutics, Thomson Locations: New York City, U.S, China, Xpeng, Bengaluru
David Paul Morris | Bloomberg | Getty ImagesThis report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Despite the (ostensibly) hawkish tone of Powell's Jackson Hole speech, markets, it seemed, seized on a tangential point and made it the whole narrative. The beauty of Powell's words is that they are open to interpretation. The drawback of Powell's words is that they are open to interpretation.
Persons: Christine Lagarde, Kazuo Ueda, Jerome Powell, David Paul Morris, Powell, Powell's Jackson Organizations: HK, European Central Bank, ECB, Bank of Japan, US Federal Reserve, Bloomberg, Getty, CNBC, Nasdaq, Dow Jones Industrial Locations: Moran , Wyoming
Here's why stocks are still vulnerable in September
  + stars: | 2023-08-28 | by ( Bob Pisani | ) www.cnbc.com   time to read: +6 min
The bad news is, stocks still aren't cheap, rates still seem like they want to push higher, and China is definitely weaker. Stocks are vulnerable in September: The 'pain trade' is down After that, it's time to repair some damage to the markets. Here's the good news: even though stocks have been straight down most of this month, 5% off the highs is a pretty garden variety correction. Nvidia and AI stocks: how much more do you want? I don't know if that is true, but it sure looks like much of the demand for AI stocks has been pulled forward.
Persons: Jerome Powell's Jackson, Powell, Stocks, there's, Banks, Russell, Susan Collins, Patrick Harker, Joachim Nagel, Thursday's, I'm, Chris Harvey, it's, Jackson Organizations: Federal, deflator, Regional Bank ETF, Energy, Boston, Financial Times, Philadelphia Fed, CNBC, ECB, Nvidia, Microsoft, Cisco, Intelligence, Technology, IBM Locations: China, Wells Fargo, Jackson
David Paul Morris | Bloomberg | Getty ImagesThis report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Despite the (ostensibly) hawkish tone of Powell's Jackson Hole speech, markets, it seemed, seized on a tangential point and made it the whole narrative. The beauty of Powell's words is that they are open to interpretation. The drawback of Powell's words is that they are open to interpretation.
Persons: Jerome Powell, David Paul Morris, Powell, Powell's Jackson Organizations: US Federal Reserve, Bloomberg, Getty, CNBC, Nasdaq, Dow Jones Industrial Locations: Moran , Wyoming
The relative strength index, which measures the magnitude and speed of price moves, is one way to evaluate whether shares are overbought or oversold. With this in mind, CNBC Pro screened for stocks in the broad market index that fell into overbought and oversold territory this past week. Overbought stocks Here are the ten most overbought stocks for the week. Several technology names made the list of overbought names, suggesting they may soon experience a pullback. Eli Lilly was the most overbought stock in the broad market index this week, with the highest 14-day RSI value of 85.8.
Persons: Jerome Powell's Jackson, Ralph Lauren, DXC, Eli Lilly Organizations: Nasdaq, Dow Jones, CNBC Pro, Citi, Insulet Corp, Citigroup Locations: overbought
LONDON — European markets were muted on Friday morning as traders await signals from Federal Reserve officials on the likely path of monetary policy. The pan-European Stoxx 600 hovered around the flatline in early trade, with tech stocks shedding 0.4% while oil and gas shares added 0.6%. The continental blue chip index closed the Thursday session down 0.4%, as global momentum on the back of U.S. chipmaker Nvidia 's blowout earnings faded throughout the day. U.S. stock futures were little changed in early premarket trade on Friday, after Wall Street closed out a dismal regular trading session. Thursday marked the worst day for the Dow since March, while the S&P 500 and Nasdaq had their biggest one-day losses since Aug. 2.
Persons: Nvidia, Jerome Powell Organizations: Federal Reserve, Japan's Nikkei, Wall, Dow, Nasdaq Locations: U.S, Asia, Pacific
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe market has reacted to Powell's comments neutrally, says former Dallas Fed President FisherRichard Fisher, Barclay's senior advisor and former U.S. Federal Reserve Bank of Dallas president, joins 'Halftime Report' to discuss the market reaction to Powell's Jackson Hole remarks, Fed Chair Powell's professional expertise, and the economy's strength.
Persons: Fisher Richard Fisher, Barclay's, Powell's Jackson Organizations: Dallas Fed, U.S . Federal Reserve Bank, Dallas
People shopping along the streets of Shinsaibashi in Osaka, Japan. Asia-Pacific markets fell across the board as investors prepared for signals on U.S. monetary policy from central bankers' comments at the Jackson Hole meeting on Friday, including a speech by U.S. Federal Reserve chair Jerome Powell. In Asia, the core inflation rate for Japan's capital Tokyo came in at 2.8% for August, slightly below the 2.9% expected by economists polled by Reuters. The core inflation rate strips out prices of fresh food. Overall inflation for Tokyo was recorded at 2.9%, lower than the 3.2% seen in July.
Persons: Jerome Powell Organizations: U.S . Federal, Reuters Locations: Shinsaibashi, Osaka, Japan, Asia, Pacific, Tokyo
watch nowFederal Reserve Chair Jerome Powell on Friday called for more vigilance in the fight against inflation, warning that additional interest rate increases could be yet to come. Regardless, Powell indicated it's too soon to declare victory, even with data this summer running largely in the Fed's favor. A need to 'proceed carefully'Powell's remarks follow a series of 11 interest rate hikes that have pushed the Fed's key interest rate to a target range of 5.25%-5.5%, the highest level in more than 22 years. He noted progress on all three, but said nonhousing is the most difficult to gauge as it is the least sensitive to interest rate adjustments. Inflation measured over the past three and six months has declined, however, which is encouraging," Powell said.
Persons: Jerome Powell, Powell, Jackson, it's, Ryan Detrick, Jack McIntyre, nonhousing Organizations: Kansas City, Fed, Bureau of Labor Statistics, Dow Jones, Carson Group, Federal, Market, Brandywine, Commerce Department, Labor Locations: Jackson Hole , Wyoming, policymaking
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPowell's speech did not address GDP rise from productivity growth, Wharton School's Jeremy SiegelJeremy Siegel, University of Pennsylvania's Wharton School professor of finance, joins 'Closing Bell' to discuss what the market reaction to Powell's Jackson Hole speech says about the state of monetary policy, strong productivity despite a labor market slowdown, and the risk of commodity price inflation rising further.
Persons: Wharton, Jeremy Siegel Jeremy Siegel, Powell's Jackson Organizations: University of Pennsylvania's Wharton School
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInflation is going to ultimately prove to be transitory, says Virtus' Joe TerranovaKari Firestone, Joe Terranova, Jim Lebenthal, and Rob Sechan, join 'Halftime Report' to discuss the market pricing in Chair Powell's Jackson Hole comments, Powell's patience with the lag of inflation data, and the Fed's effort to preserve soft landing narrative.
Persons: Virtus, Joe Terranova Kari Firestone, Joe Terranova, Jim Lebenthal, Rob Sechan, Powell's Jackson
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's investment committee discuss Fed Chair Powell's Jackson Hole remarksKari Firestone, Joe Terranova, Jim Lebenthal, and Rob Sechan, join 'Halftime Report' to discuss the market pricing in Chair Powell's Jackson Hole comments, Powell's patience with the lag of inflation data, and the Fed's effort to preserve soft landing narrative.
Persons: Jackson, Kari Firestone, Joe Terranova, Jim Lebenthal, Rob Sechan, Powell's Jackson Organizations: Watch
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC’s full interview with David Wessel, Sarat Sethi and Ron InsanaBrookings’ David Wessel, DCLA’s Sarat Sethi and Dynasty Financial’s Ron Insana join 'Power Lunch' to discuss their takeaways from Fed Chair Powell's Jackson Hole speech.
Persons: David Wessel, Sarat Sethi, Ron Insana Brookings, DCLA’s Sarat Sethi, Ron Insana, Jackson
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDynasty Financial’s Ron Insana expects the Fed is close to done with rate hikesBrookings’ David Wessel, DCLA’s Sarat Sethi and Dynasty Financial’s Ron Insana, joins 'Power Lunch' to discuss takeaways from Fed Chair Powell's Jackson Hole speech.
Persons: Ron Insana, David Wessel, DCLA’s Sarat Sethi, Jackson Organizations: Brookings
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIf rates continue to rise, we will leave out renters from converting to ownership: NAR's YunLawrence Yun, National Association of Realtors chief economist, joins 'Squawk on the Street' to discuss Yun's thoughts on Powell's Jackson Hole comments, inventory levels Yun has sight of, and much more.
Persons: NAR's Yun Lawrence Yun, Powell's Jackson, Yun Organizations: National Association of Realtors
U.S. Treasury yields were slightly higher on Friday, as traders await Federal Reserve Chairman Jerome Powell's comments at the central bank's Jackson Hole symposium. The yield on the benchmark 10-year Treasury note added more than 1 basis point to 4.247%, while the yield on the 30-year Treasury bond inched higher to 4.309%. Markets will be closely watching Powell's comments for hints on the probable path of U.S. monetary policy. As a result, there won't be any curtain calls at Jackson Hole. There are no major economic data releases or Treasury auctions scheduled for Friday.
Persons: Jerome Powell's, Michael Arone, Powell, Arone Organizations: Treasury, Federal, Fed Locations: Wyoming
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFmr. Dallas Fed Pres. Kaplan: Productivity improvement helps with GDP growth and inflation fightFormer Dallas Fed President Robert Kaplan joins 'Squawk on the Street' to preview Fed Chair Powell's Jackson Hole speech, the state of the U.S. economy, inflation outlook, and more.
Persons: Dallas Fed Pres, Robert Kaplan, Jackson Organizations: Dallas Fed, Productivity Locations: U.S
Monday Monday proved to be a harbinger for the rest of the week, beginning with purchases of GE Healthcare (GEHC) and Stanley Black & Decker (SWK). GE Healthcare and Stanley Black & Decker appeared especially attractive, leading us to buy 100 shares and 150 shares, respectively. For GEHC, we wanted to take advantage of what we believe was an unwarranted decline in the medical technology company's stock price. Our purchase of Starbucks represents another buying-into-post-earnings-weakness situation, as we did with Microsoft and Stanley Black & Decker earlier in the week. That's why on Thursday we took our Nvidia price target to $600 per share from $450, implying roughly 27% upside.
Persons: Jerome Powell's Jackson, Here's, Stanley Black, Decker, SWK, Nikesh Arora, Jim Cramer, that's, Locker, Locker's, , Jim Cramer's, Jim, Angela Weiss Organizations: Federal, GE Healthcare, Microsoft, Palo Alto Networks, Big Tech, Amazon, Starbucks, Broadcom, Devices, Nvidia, Charitable, AMD, CNBC, Traders, New York Stock Exchange, AFP, Getty Locations: Danaher, New York City
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailData is key to AI modeling, so investors should buy storage providers: Bokeh Capital's Kim ForrestKim Forrest, chief investment officer at Bokeh Capital Partners, joins 'The Exchange' to discuss how to trade the market following Powell's Jackson Hole speech, the data element of AI's productivity promise, and the importance of making informed investments in financials.
Persons: Capital's Kim Forrest Kim Forrest, Jackson Organizations: Bokeh Capital Partners Locations: financials
US stocks rose higher as traders waited for Powell's speech at Jackson Hole. Last year, stocks plunged after Powell warned markets of "more pain" ahead. download the app Email address By clicking ‘Sign up’, you agree to receive marketing emails from Insider as well as other partner offers and accept our Terms of Service and Privacy PolicyAdvertisementAdvertisementUS stocks rose Friday ahead of Federal Reserve Chair Jerome Powell's speech at the Jackson Hole Economic Symposium. Powell's speech at the same event last year sent stocks plummeting as he reiterated the central bank's committement to fighting inflation through interest rate hikes. At last year's event, stocks plunged after Powell warned markets of "more pain" ahead, as the Fed would continue to stay hawkish on inflation.
Persons: Jackson, Powell, Jerome Powell's, Riley, Art Hogan Organizations: Investors, Service, Federal, Jackson, Fed, Riley Wealth, Nasdaq Locations: Wall, Silicon
U.S. stock futures were flat Thursday night as Wall Street looked toward Federal Reserve Chairman Jerome Powell's Jackson Hole speech on Friday morning. However, the markets turned negative for the day as investors grew more cautious ahead of Powell's remarks. Despite Thursday's declines, both the S&P 500 and Nasdaq are holding on to weekly gains of 0.2% and 1.3%, respectively. The Jackson Hole Economic Symposium in Wyoming brings together central bankers and key financial officials from across the world. During last year's gathering, stocks fell following Powell's hawkish speech.
Persons: Jerome Powell's Jackson, Powell's, Dow, Powell, Zachary Hill, Jackson, Hill Organizations: New York Stock Exchange, Federal, Dow Jones, Nasdaq, Jackson, Horizon Investments Locations: Wyoming
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