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☆ A low-cost way to protect against further market declines and position for an eventual comeback
▼ + stars: | 2024-04-19 | by ( Jeff Kilburg | ) www.cnbc.com time to read: +3 min

I want to protect further downside in the broader U.S. equity market despite the fact that S & P 500 has had an acute drop of more than 5% off its recent 2024 highs. I do believe that we are still in a bull market, but the headwinds are strong in the current market conditions. .SPX YTD mountain S & P 500 YTD Lastly, markets are contending with corporate earnings season. Per my friends at Factset, the S & P 500's valuation on a forward 12-month P/E ratio is 20.6. DISCLOSURES: (Long this spread) THE ABOVE CONTENT IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY .

Persons: Raphael Bostic Organizations: Treasury, Federal Reserve, Federal Reserve Bank of Atlanta, Big Tech, Trust Locations: Israel, Iran, Factset

☆ Treasury yields fall as investors weigh economic data, Fed comments
▼ + stars: | 2024-04-19 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

The 2-year Treasury yield was last at 4.9622% after falling by more than two basis points. U.S. Treasury yields declined on Friday as investors considered the latest economic data and remarks from Federal Reserve officials, and considered what this could mean for monetary policy. Investors digested the latest economic data and remarks from policymakers as they considered the outlook for interest rates. Fed officials have in recent days and weeks indicated that interest rates may remain elevated for longer than previously anticipated. Elsewhere, Atlanta Fed President Raphael Bostic said rate cuts may not come until the end of the year, and that he was "comfortable being patient," while Minneapolis Fed President Neel Kashkari suggested rate cuts may not begin until 2025.

Persons: John Williams, Raphael Bostic, Neel Kashkari, Jerome Powell Organizations: Treasury, U.S, Federal Reserve, New York Fed, Atlanta Fed, Minneapolis, Investors, NBC News Locations: Philadelphia, Israel

☆ Americans are savings less these days. Here’s why and what that means
▼ + stars: | 2024-04-14 | by ( Bryan Mena | ) edition.cnn.com time to read: +7 min

Washington CNN —Americans haven’t been stashing money into their savings accounts like they used to, according to government statistics. Put together, this may have resulted in “a structurally lower saving rate,” according to the report. What does the lower saving rate of nowadays say about the US consumer? Households are continuing to spend at these elevated rates and one reason is because of the lower saving rate. You’re just not seeing a reversal back to pre-Covid levels, which isn’t shocking when you look back historically to what has happened to the saving rate.

Persons: haven’t, “, Wells, Bell, Shannon Seery Grein, There’s, they’ve, we’ve, Matt Egan, ” Paul Knopp, Read, Goldman Sachs, Charles Schwab, Lorie Logan, Mary Daly, Johnson, Morgan Stanley, Jerome Powell, Loretta Mester, John Williams, Raphael Bostic, Austan Goolsbee Organizations: Washington CNN, Wells, KPMG, CNN, Gallup, T Bank, US Commerce Department, National Association of Home Builders, China’s National Bureau of Statistics, Johnson, Bank of America, PNC, The Bank of New York Mellon, Northern Trust, United Airlines, Federal Reserve, Abbott Laboratories, Discover, Citizens, Cleveland Fed, Taiwan Semiconductor Manufacturing, Netflix, Alaska Air, National Association of Realtors, Fed, US Labor Department, Procter & Gamble, American Express . Chicago Fed Locations: Wells Fargo, United States, Europe, UnitedHealth, Blackstone

☆ Fed Governor Bowman says additional rate hike could be needed if inflation stays high
▼ + stars: | 2024-04-05 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

Noting a number of potential upside risks to inflation, Bowman said policymakers need to be careful not to ease policy too quickly. "Reducing our policy rate too soon or too quickly could result in a rebound in inflation, requiring further future policy rate increases to return inflation to 2 percent over the longer run." The speech, to the Shadow Open Market Committee, comes with markets on edge about the near-term future of Fed policy. Weighing inflation risks, she said that supply-side improvements that helped bring numbers down this year may not have the same impact going forward. Fed officials will get their next look at inflation data Wednesday, when the Labor Department releases the March consumer price index report.

Persons: Michelle Bowman, Bowman, Jerome Powell, Raphael Bostic, Neel Kashkari Organizations: Federal, of Governors, Market, Committee, Atlanta Fed, CNBC, Minneapolis Fed, Fed, Labor Department Locations: New York

☆ 3 things rattling markets this week
▼ + stars: | 2024-04-04 | by ( Krystal Hur | ) edition.cnn.com time to read: +7 min

The S&P 500 tumbled the first two trading days of the new quarter and is down 0.8% for the week after paring back some of its losses on Wednesday. Some Fed officials revealed at the central bank’s policy meeting last month that they see fewer rate cuts than the three they forecast last December for 2024. Traders see a 63% expectation that the Fed cuts rates in June, a drop from more than 70% a week earlier, according to the CME FedWatch Tool. “With Middle East tensions on the rise, OPEC+ supply side measures have pushed crude oil volatility down,” BofA strategists wrote in a Wednesday report. “Adding to a complex backdrop, we now estimate that improving economic growth expectations have helped push global oil markets into a deficit.”The price of gold has also climbed this week.

Persons: New York CNN — Stocks, “, ”, Brent Schutte, Jerome Powell, •, Loretta Mester, Raphael Bostic, Brent, Michael Shvartsman, Gerald Shvartsman, Donald Trump’s, Matt Egan, “ Michael, ” Damian Williams, Bruce Garelick, ” Williams, ” Read, Joe Biden, Sean Lyngaas, China Nicholas Burns, Antony Blinken, Read Organizations: CNN Business, Bell, New York CNN —, Treasury, FactSet, Northwestern Mutual Wealth Management, Hawkish, San Francisco Fed, Stanford University, Wednesday, • Cleveland Fed, Atlanta Fed, CNBC, Traders, Organization of, Petroleum, West Texas, Brent, Bank of America, Trump Media, Trump Media & Technology Group, DWAC, Southern, of, Acquisition Corporation, “, Microsoft, US, Department of Homeland Security, CNN Locations: New York, OPEC, Florida, of New York, Washington, China

☆ Stock futures turn higher following third straight day of losses for the Dow: Live updates
▼ + stars: | 2024-04-03 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

Traders work on the floor of the New York Stock Exchange during afternoon trading on April 02, 2024 in New York City. U.S. stock futures rose Wednesday night after the Dow Jones Industrial Average registered its third straight losing session. Investors' fears that the Federal Reserve may keep rates higher longer have weighed on stocks this week. The result trounced Dow Jones' estimate of 155,000 and spurred investors' fears that rates may indeed stay higher longer. "I don't think that the Fed really has any reason to cut rates.

Persons: Dow, Jerome Powell, Raphael Bostic, Dow Jones, Larry Tentarelli Organizations: New York Stock Exchange, Dow Jones Industrial, Dow, Nasdaq, Federal Reserve, Atlanta Fed, CNBC, Federal, ADP, Treasury, Blue Locations: New York City . U.S, U.S

☆ Watch Fed Chair Powell speak live at Stanford policy conference economic forum
▼ + stars: | 2024-04-03 | 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 Wednesday to the Stanford Business, Government and Society forum. But he also said the timing isn't certain and policymakers need more evidence that inflation is moving toward the Fed's 2% goal. Atlanta Fed President Raphael Bostic said Wednesday he thinks there could be just one cut this year, though his colleagues on the Federal Open Market Committee have indicated three. Markets expect the Fed to start down the path of easing in June or July, with a total of three cuts coming by the end of 2024.

Persons: Jerome Powell, Powell, Raphael Bostic, Bostic, Steve Eisman Organizations: Stanford Business, Government, Society, Atlanta Fed, Federal, Read, Fed, CNBC, YouTube

☆ Fed's Powell emphasizes need for more evidence that inflation is easing before cutting rates
▼ + stars: | 2024-04-03 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

Federal Reserve Bank Chair Jerome Powell speaks during the Stanford Business, Government and Society Forum at Stanford University on April 03, 2024 in Stanford, California. Justin Sullivan | Getty ImagesFederal Reserve Chairman Jerome Powell said Wednesday it will take a while for policymakers to evaluate the current state of inflation, keeping the timing of potential interest rate cuts uncertain. "We do not expect that it will be appropriate to lower our policy rate until we have greater confidence that inflation is moving sustainably down toward 2 percent," he added. "Recent readings on both job gains and inflation have come in higher than expected," Powell said. The uncertainty about rates has caused some consternation in markets, with stocks falling sharply earlier this week as Treasury yields moved higher.

Persons: Jerome Powell, Justin Sullivan, Powell, Raphael Bostic, Mary Daly, Cleveland's Loretta Mester Organizations: Bank, Stanford Business, Government, Society, Stanford University, Getty, Federal, Market, Atlanta Fed, CNBC, San Francisco Fed, Group Locations: Stanford , California

☆ Atlanta Fed President Raphael Bostic: Expect one rate cut in the fourth quarter of this year
▼ + stars: | 2024-04-03 | 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 EmailAtlanta Fed President Raphael Bostic: Expect one rate cut in the fourth quarter of this yearCNBC’s Steve Liesman and Atlanta Fed President Raphael Bostic join 'Squawk Box' to discuss the state of the economy, the Fed's inflation fight, how many rate cuts Bostic expects this year, and more.

Persons: Raphael Bostic, Steve Liesman Organizations: Atlanta, Atlanta Fed

☆ Fed Chair Jerome Powell signals rate cuts aren’t imminent
▼ + stars: | 2024-03-29 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +3 min

But the Fed is prepared to ignore Wall Street’s hope for a rate cut in June if it feels the economy isn’t ready yet. That’s the message Fed Chair Jerome Powell delivered on Friday. Powell wasn’t fretting about it though, saying that it was “pretty much in line with our expectations.”Why wait to cut then? “This is an economy that doesn’t feel like it’s suffering from the current level of rates,” Powell said. Like Powell, several Fed officials have conveyed they’re more concerned about cutting too soon than prolonging the status quo.

Persons: Jerome Powell, “, ”, Powell, Powell wasn’t, there’s, ” Powell, Raphael Bostic, Powell’s, Donald Trump, he’s, Joe Biden —, Powell — Organizations: New, New York CNN, Federal Reserve, San Francisco Fed, Atlanta Fed, Republican Locations: New York

☆ Don't sweat the prospect of no Fed rate cuts, economist says — markets will still march higher
▼ + stars: | 2024-03-28 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +4 min

Federal Reserve Bank Chair Jerome Powell speaks during a news conference at the bank's William McChesney Martin building on March 20, 2024 in Washington, DC. His comments come as investors await the release of further U.S. economic data and closely monitor clues from Fed officials about the expected number of interest rate cuts in 2024. Asked on Thursday about the likelihood of one or no Fed interest rate cuts this year, Blitz said that it's "getting pretty good. Blitz said markets will likely continue to march higher, even if the Fed decides not to impose any interest rate cuts this year — a prospect that U.S. asset manager Vanguard named as their base-case scenario. Christopher Waller, governor of the US Federal Reserve, during a Fed Listens event in Washington, DC, US, on Friday, March 22, 2024.

Persons: Jerome Powell, William McChesney Martin, Chip Somodevilla, Steven Blitz, Blitz, They're, CNBC's, it's, Christopher Waller, Waller, Raphael Bostic, Jerome, Powell Organizations: Bank, Getty, Federal Reserve, TS Lombard, Traders, Fed, Vanguard, Economic, of New, Atlanta Federal Reserve, US Federal Reserve, Bloomberg Locations: Washington ,, U.S, of New York, Atlanta, Washington , DC

☆ Fed officials are now considering fewer rate cuts this year
▼ + stars: | 2024-03-26 | by ( Elisabeth Buchwald | Bryan Mena | ) edition.cnn.com time to read: +7 min

That’s because some Federal Reserve officials are reconsidering forecasts they made three months ago that called for three rate cuts this year. The stakes are high because there are consequences if the Fed cuts rates soon or if it leaves rates where they’ve been for the past eight months. First rate cut hinges on inflation dataIn February, Bostic told CNN that the first rate cut could come “sometime in the summertime.” That’s also Wall Street’s current expectation. He hasn’t specified — and is unlikely to signal — the number of rate cuts he believes are appropriate for this year. He has cheered inflation’s descent and said further improvement could open the door to rate cuts — if that actually bears out.

Persons: they’ve, Raphael Bostic, ” Bostic, Bostic, That’s, Powell hasn’t, Price, Nam, ” David Page, Powell, Rather, Jerome Powell, Chip Somodevilla, Lisa Cook, Austan Goolsbee, ”, we’ve, we’re, Goolsbee, Christopher Waller Organizations: CNN, Federal Reserve, Atlanta Fed, Index, AXA, Federal, ”, Harvard University, Chicago, Yahoo Finance, Fed, San Francisco Fed Locations: New York

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

☆ Markets are eyeing a June rate cut. Here's what Fed officials have said on policy, jobs, and inflation that point to the next steps.
▼ + stars: | 2024-03-13 | by ( Phil Rosen | ) www.businessinsider.com time to read: +4 min

Fed officials have said rate cuts are coming soon, but inflation must still cool further. Markets are placing the greatest odds on a rate cut in June, fed fund futures show. AdvertisementFederal Reserve officials have said interest rate cuts are coming this year, but there's not an exact date in their outlook just yet. Those expectations were little changed after Tuesday's inflation report, which showed CPI came in hotter than expected in February. Reducing our policy rate too soon could result in requiring further future policy rate increases to return inflation to 2 percent in the longer run."

Persons: —, there's, CME's, Jerome Powell, " Neel Kashkari, Michelle Bowman, Patrick Harker, Raphael Bostic, John Williams, Christopher Waller Organizations: Service, Federal, Bank of America, Capital, Capital Economics, Labor

☆ Jobs report Friday is expected to show a slowing but still healthy labor market
▼ + stars: | 2024-03-07 | by ( Jeff Cox | ) www.cnbc.com time to read: +6 min

If the forecast is close to accurate, it would mark a considerable downshift from January's explosive growth of 353,000, but still representative of a fairly vibrant labor market. "This is kind of a cautious labor market. ZipRecruiter's quarterly job-seeker survey showed expectations for the medium-term outlook hitting a series high, while applicants also indicated stronger levels of confidence in their financial wellbeing and current state of the labor market. A jobs market that remains red-hot could deter the Federal Reserve from cutting interest rates this year as expected. In its most recent survey of economic conditions, the Fed found that the ultra-tight labor market has loosened somewhat, but there are still active pockets.

Persons: Spencer Platt, Dow, Julia Pollak, they're, Pollak, Raphael Bostic, they've, Tom Gimbel, Jerome Powell, Gimbel Organizations: Chelsea Market, Getty, Labor Department, Dow Jones, Employers, Federal Reserve, Atlanta Fed, Challenger, Labor, Survey, LaSalle Network, Big Tech Locations: Manhattan, New York City, U.S, Covid

☆ Fed Chair Powell says there’s no rush to cut interest rates
▼ + stars: | 2024-03-06 | by ( Bryan Mena | ) edition.cnn.com time to read: +6 min

Washington, DC CNN —The Federal Reserve is in no rush to cut interest rates, according to Fed Chair Jerome Powell’s written testimony submitted to congressional lawmakers, released Wednesday. Recent economic data showed that price pressures persisted in January, leading investors to recalibrate their expectations for rate cuts this year. Still, the timing and pace of rate cuts remains up in the air. Too soon to cut rates? In a recent interview with CNBC, Richmond Fed President Thomas Barkin said “we’ll see” if the Fed cuts rates in 2024.

Persons: Jerome Powell’s, Powell’s, inflation’s, ”, José Torres, “ Young, there’s, Raphael Bostic, Thomas Barkin, “, “ I’m, Austan Goolsbee, we’re, Adriana Kugler Organizations: DC CNN, Federal, Fed, Financial, “, Interactive Brokers, CNN, Atlanta Fed, CNBC, Richmond Fed, Congress, Chicago Fed, ”, Stanford University Locations: Washington

☆ Gold hovers near 3-month peak as eyes on Powell's testimony
▼ + stars: | 2024-03-05 | by ( ) www.cnbc.com time to read: +2 min

Gold bars arranged at the Korea Gold Exchange store in Seoul, South Korea, on Oct. 13, 2023. Gold prices steadied near a three-month peak on Tuesday, supported by subdued U.S. manufacturing and construction spending, as investors awaited testimony from Federal Reserve Chair Jerome Powell and key jobs data later this week. Spot gold was flat at $2,114.59 per ounce, as of 0423 GMT, hovering around Monday's levels of $2119.69 that marked its highest point since Dec. 4. London's gold price benchmark hit an all-time high of $2,098.05 per troy ounce at an afternoon auction on Monday. The world's largest gold-backed exchange-traded fund, SPDR Gold Trust's GLD holdings were down 10% from the previous year as of March 4.

Persons: Jerome Powell, Joni Teves, Fed's Raphael Bostic, Teves Organizations: Korea Gold Exchange, Federal, UBS, Data, ANZ Locations: Seoul, South Korea, U.S

☆ Dollar steady as traders ponder Fed rate cut bets; yen shaky at 150 per dollar
▼ + stars: | 2024-03-01 | by ( ) www.cnbc.com time to read: +3 min

The dollar was steady on Friday after data showed U.S. inflation remained sticky but easing gradually, keeping alive the chance of the Federal Reserve cutting rates in June, while the yen slid back to the key 150 per dollar level. The data showed U.S. prices picked up in January in line with expectations, while annual inflation slipped to the lowest in three years. Takata's comments stoked expectations that the central bank could end negative rates in March rather than the widely held view of a move in April. The contrasting comments are likely to keep investors guessing about the next move from the central bank. The Australian dollar rose 0.08% to $0.65025, while the New Zealand dollar was little changed at $0.6088.

Persons: Raphael Bostic, Hajime Takata, Kazuo Ueda Organizations: Federal Reserve, Commonwealth Bank of Australia, Traders, Atlanta Federal Reserve Bank, Bank of Japan, New Zealand Locations: United States, U.S, Atlanta

☆ Americans have racked up a trillion dollars in credit card debt. That’s actually okay
▼ + stars: | 2024-02-25 | by ( Bryan Mena | ) edition.cnn.com time to read: +8 min

Washington, DC CNN —Americans racked up a record amount of credit card debt in 2023, soaring past a trillion dollars. “Consumers still have a lot of money left over to be able to spend, so the credit card data is often misinterpreted,” Russell Price, chief economist at Ameriprise Financial, told CNN. According to a LendingTree analysis of more than 350,000 credit reports, the average unpaid credit card balance was $6,864 in the fourth quarter. Overall, US household debt (including credit card balances) rose to a new high of $17.5 trillion in the fourth quarter, up 1.2% from the prior three-month period. So, while there certainly isn’t a shortage of economic hurdles bedeviling people’s budget — and credit card debt has surged — the big picture indicates that, so far, Americans (and their economy) remain healthy.

Persons: ” Russell Price, Price, haven’t, market’s, ” Gregory Daco, ” Lara Rhame, Laura, Jensen Huang, Christine Lagarde, Virgin, Michael Barr, Raphael Bostic, Susan Collins, John Williams, Papa, Austan Goolsbee, Loretta Mester, fuboTV, Christopher Waller, Mary Daly, Adriana Kugler Organizations: CNN Business, Bell, DC CNN, Workers, New York Fed, Consumers, Ameriprise, CNN, Federal Reserve Bank of New, . New York Fed, Employers, Soaring, FS Investments, Nvidia, Huawei, AMD, Microsoft, Broadcom, US Commerce Department, Central Bank, eBay, Smucker, Urban Outfitters, Global, Board, TJX, Monster Beverage, Baidu, HP, Paramount Global, Anheuser, Busch Inbev, Dell Technologies, Papa John’s, US Labor Department, National Association of Realtors, P, China’s National Bureau, Statistics, Pearson, P Global, Institute for Supply Management, University of Michigan Locations: Washington, Federal Reserve Bank of New York, ., EY, Santa Clara, Singapore, Shenzhen, China, Beijing, CAVA

☆ Americans could save up to $300 a month on their mortgages if interest rates drop as expected in 2024
▼ + stars: | 2024-02-23 | by ( Cork Gaines | ) www.businessinsider.com time to read: +4 min

Homeowners who recently purchased properties with interest rates as high as 8% face much higher monthly mortgage payments than those seen a few years ago. Of course, interest rates will not return to 3% anytime soon, but homeowners don't need rates to drop much to see a big difference in their bank accounts. Homeowners with high-interest mortgage loans are expected to quickly refinance when rates drop. While mortgage interest rates started to fall in late 2023, they were above 7% for much of the year, peaking near 8% in October, and recently climbed back above 7%. Win McNamee/Getty ImagesWhenever cuts happen, a drop in rates would save existing and new homeowners money each month.

Persons: —, Michele Raneri, Raneri, Eric Audras, Raphael Bostic, Jerome Powell, Win McNamee Organizations: Service, Business, TransUnion, Atlanta Fed, CNN, . Federal Reserve Locations: TransUnion

☆ Premarket stocks: Joe Biden’s top economic adviser isn’t worried about the latest inflation data
▼ + stars: | 2024-02-20 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +9 min

New York CNN —US markets broke a five-week winning streak last Friday after disappointing inflation data reignited economic and interest rate-related fears on Wall Street. Then last week, two key inflation indicators for January — the Consumer Price Index and Producer Price Index — rose above Wall Street expectations. Richmond Fed President Thomas Barkin said the new data showed that the Fed needs more confidence before cutting rates. I think in this case, the market isn’t necessarily telling you much about the economy’s fundamentals, the market is telling you what other market participants think. And I think that those economic fundamentals get you to the part that says, you know, it’s not not the economy.

Persons: Price, Thomas Barkin, Raphael Bostic, isn’t, Bell, Jared Bernstein, Joe Biden, I’m, they’re, It’s, it’s, Joe Weisenthal, Elisabeth Buchwald, Hanna Ziady, Liam Peach, ” Peach Organizations: CNN Business, Bell, New York CNN, Federal Reserve, Richmond Fed, White House Council, Economic Advisers, CPI, Apple, Google, Nvidia, Microsoft, Capital, Discover Financial Services, Discover, Hamas, Gross, Israel’s, Bureau, Statistics, Capital Economics Locations: New York

☆ Dollar steady as sticky inflation dents rate cut expectations
▼ + stars: | 2024-02-19 | by ( ) www.cnbc.com time to read: +3 min

United States one dollar bills are curled and inspected during production at the Bureau of Engraving and Printing in Washington. The dollar was steady on Monday after data last week showing U.S. inflation remained sticky cast doubts on when the Federal Reserve would start its easing cycle, while the yen remained rooted near the psychologically key 150 per dollar level. Chandler said there appears little on the charts to deter a test to last year's low of 152 per dollar level. Several Fed officials including Christopher Waller and Raphael Bostic are also due to speak this week. The Australian dollar rose 0.29% to $0.655, while the New Zealand dollar advanced 0.34% to $0.614.

Persons: Marc Chandler, Chandler, Christopher Waller, Raphael Bostic, Christopher Wong, BOE Organizations: Engraving, Federal Reserve, of Finance, Bannockburn Global, Data, Citi, Investor, Bank of England's, New Zealand Locations: United, Washington, Bannockburn, Bannockburn Global Forex

☆ Gold at one-week high as soft dollar, Middle East turmoil lift demand
▼ + stars: | 2024-02-19 | by ( ) www.cnbc.com time to read: +2 min

Gold prices rose to a nearly one-week high on Monday as a slight pullback in the U.S. dollar and escalating tensions in the Middle East lifted bullion's safe-haven appeal. Gold prices rose to a nearly one-week high on Monday as a slight pullback in the U.S. dollar and escalating tensions in the Middle East lifted bullion's safe-haven appeal. Spot gold was up 0.3% at $2,019.99 per ounce, as of 0530 GMT, hitting its highest since Feb. 13. U.S. gold futures rose 0.4% to $2,031.50 per ounce. Spot platinum dipped 0.3% to $903.04, palladium rose 0.7% to $956.66, while silver fell 1.2% to $23.12 per ounce.

Persons: Yeap Jun Rong, Wang Tao, Jun Rong, Raphael Bostic Organizations: U.S ., Maritime Trade Operations, Market, Fed Bank of Atlanta, CME Locations: Mandab, Yemen, China

☆ Higher-for-longer interest rates favor large companies over their smaller rivals in many ways
▼ + stars: | 2024-02-18 | by ( Bryan Mena | ) edition.cnn.com time to read: +7 min

High interest rates squeeze companies of all sizes, but that’s especially the case for smaller firms, unlike large companies better equipped to weather the storm. Before the Bell: How do the effects of higher-for-longer interest rates on companies vary by size? I think it might be a stretch to say that M&A activity picks up because of higher interest rates, so instead, it’s that if good businesses are beginning to suffer because of higher interest rates, then they might be more likely to be a target. Gas prices always rise as winter winds down because demand increases and gas stations must switch over to more expensive summer fuel. No matter the cause, rising gas prices are bad news for consumers already frustrated by the cost of living.

Persons: It’s, Bell, Lauren Goodwin, Matt Egan, ”, Patrick De Haan, doesn’t, ” Read, Raphael Bostic, Michelle Bowman, Philip Jefferson, Patrick Harker, Lisa Cook, Neel Kashkari, Christopher Waller Organizations: CNN Business, Bell, DC CNN, Federal Reserve, New York Life Investments, AAA, ’, HSBC, Walmart, Home Depot, Barclays, Caesars Entertainment, Nvidia, Rivian, Fidelity, Marriott, Intuit, Pacific Gas & Electric, Global, Chicago Fed, US Labor Department, National Association of Realtors, Warner Bros ., Icahn Enterprises Locations: Washington, Wingstop, United States

☆ Dollar steady as traders weigh economic data, yen fragile
▼ + stars: | 2024-02-16 | by ( ) www.cnbc.com time to read: +4 min

The dollar was steady on Friday, on track for its fifth straight weekly gain, as investors take stock of economic data and firm expectations of the Federal Reserve cutting rates in June, while the yen traded at the psychologically key 150 per dollar level. But overall market expectations on the timing of the first Fed cut and magnitude of the cut will continue to drive volatility in FX markets." "We will likely soon contemplate the appropriate time for monetary policy to become less restrictive," Bostic said. Investor focus has been on comments from policymakers, with Federal Reserve Chair Jerome Powell due to give the Senate banking committee its biannual monetary policy update on March 7. The Australian dollar eased 0.20% to $0.651, while the New Zealand dollar is down 0.21% to $0.609.

Persons: Christopher Wong, Raphael Bostic, Bostic, Jerome Powell, pare, Kieran Williams, bitcoin Organizations: Federal Reserve, PPI, Federal Reserve Bank of Atlanta, Federal, Asia FX, InTouch, Markets, New Zealand Locations: Buenos Aires, Argentina, Singapore, U.S, Japan, Asia, Germany

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