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☆ Stock market today: Dow aims for 8-day win streak with next week's CPI report in focus
▼ + stars: | 2024-05-10 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

US stocks jumped on Friday as the Dow Jones Industrial Average vied for an 8-day win streak. The upcoming April CPI report next week is the big data point that could move markets. AdvertisementUS stocks edged higher on Friday, setting the Dow Jones Industrial Average up for a potential eight-day win streak. Next week, investors will be laser-focused on the Wednesday release of April's inflation report, with economists expecting a 0.3% rise in the consumer price index. Fundstrat's Tom Lee said a light CPI report next week could set the stock market up for more gains in May.

Persons: —, Jerome Powell, Michelle Bowman, Lorie Logan, Austan Goolsbee, Neel Kashkari, Michael Barr, Tom Lee, Lee Organizations: Dow Jones, Federal Reserve, Service, Federal Locations: Fundstrat, Here's

☆ Why you should buy stocks ahead of next week's inflation report
▼ + stars: | 2024-05-10 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

Investors should buy stocks ahead of next week's release of the April CPI report, according to Fundstrat's Tom Lee. An in-line CPI report or better would increase the chances of three interest rate cuts this year, Lee said. AdvertisementInvestors should buy stocks ahead of next week's release of the April CPI report, according to Fundstrat's Tom Lee. Sweden's Riskbank cut interest rates for the first time since 2016 on Wednesday, and the Bank of England signaled that interest rate cuts are imminent. And next week, we expect incoming data to show overall softening of the key components of inflation," Lee said.

Persons: Tom Lee, Lee, — Organizations: Service, Federal Reserve, Bank of England

☆ Stock market today: Dow hits 8-day winning streak ahead of key inflation report
▼ + stars: | 2024-05-10 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

The strong gains in May come ahead of a key CPI report, set to be released on Wednesday. AdvertisementUS stocks traded higher on Friday, securing an eight-day winning streak for the Dow Jones Industrial Average. Fed Governor Michelle Bowman said she doesn't expect any interest rate cuts this year, while Fed President Lorie Logan said its still too early to be thinking about interest rate cuts based on the latest inflation data. The report will offer insights into when the Fed might move forward with interest rate cuts. Fundstrat's Tom Lee expects a lower-than-expected inflation report, which should send dovish signals to the Fed and push stocks higher for the rest of May.

Persons: —, Michelle Bowman, Lorie Logan, Fundstrat's Tom Lee, Lee Organizations: Dow, Fed, Service, Dow Jones, Federal Locations: Here's

☆ Stocks are undergoing a needed, and (so far) modest, pullback in a longer-term bull market
▼ + stars: | 2024-04-13 | by ( Michael Santoli | ) www.cnbc.com time to read: +8 min

The result was a 1.5-percent weekly drop in the S & P 500 , with Friday's setback exacerbated at least somewhat by a collective clenching-up of risk markets on some geopolitical worry. This dynamic hasn't been reversed, but the signal has grown a bit staticky, draining some conviction from the macro bullish case with the S & P 500 still 24% above the October low. Bull market's backdrop First, it's a bull market, and not a particularly mature or excessively generous one yet. Yet both stocks are still outperforming the S & P this year. The S & P 500 closed Friday at exactly the same level of five weeks earlier, on March 8 – which was perhaps the moment of maximum investor confidence in the "we can have it all" thesis.

Persons: I've, Jerome Powell, Powell, Wall, it's, We're, John Butters, Fastenal, Scott Chronert Organizations: Federal, ICE, Treasury, CPI, Fed, Grainger, Citi

☆ Trump is recreating his web of chaos at home and abroad in a preview of what a second term could look like
▼ + stars: | 2024-04-10 | by ( Stephen Collinson | ) edition.cnn.com time to read: +12 min

CNN —Some top Democrats worry that Americans have forgotten the chaos that raged every day Donald Trump was president, and that voters’ faded recall of the uproar will end up handing him a second term. Trump ally Rep. Marjorie Taylor Greene is threatening to topple Johnson if he dares to pass it. — Nationwide chaos is, meanwhile, spreading in the wake of the Trump-built Supreme Court conservative majority overturning Roe v. Wade in 2022. — Bipartisan efforts to solve a border crisis are in tatters after Trump’s House followers in February killed the most sweeping and conservative bill in years. Yet Trump has vowed to end the war in 24 hours if he wins a second term.

Persons: Donald Trump, ’, Trump, Mike Johnson, Ukraine –, Marjorie Taylor Greene, Johnson, Roe, Wade, Trump’s, Joe Biden, —, Johnson –, Lago Trump, bucked Johnson, Bill Barr, CNN’s Annie Grayer, ” Barr, ”, Barr, “ We’re, Greene, “, ” Greene, CNN’s Manu Raju, We’re, laud, Ronald Reagan’s, Vladimir Putin’s, Volodymyr Zelensky, don’t, CNN’s Frederik Pleitgen, Putin, Christopher Cavoli, ” Cavoli, Biden, majority’s handiwork, he’d, didn’t, –, he’s Organizations: CNN, GOP, Republican, Trump, Washington, Trump -, Mar, Foreign Intelligence, FBI, FISA, Kremlin, Ukraine, European Command, House Armed Services Committee, Arizona Locations: Ukraine, Arizona, tatters, America, Washington, Russia, Georgia, Florida, Russian, Mar, Alabama

But ship collision barriers are standard around the support piers of bridges over major waterways like the entrance to Baltimore’s harbor. The Verrazzano-Narrows Bridge in New York City, for example, has massive barriers of concrete and rocks around the bases of the piers that support it. It was not immediately clear how old the barriers are around the piers that supported the bridge in Baltimore. The bridge there was being fitted with devices designed to protect the piers in case of any ship crash. The bridge has massive barriers of concrete and rocks around the bases of the piers that support it and protect it from ship crashes.

Persons: Spencer Platt, Basil M, ”, “, Mr, Karatzas, Amy Chang Chien Organizations: Officials, China Central Television, Getty, Karatzas Marine Advisors Locations: Guangzhou, China, Baltimore, Baltimore’s, New York City, New York

☆ Mars could be creating 'giant whirlpools' deep within our planet's oceans
▼ + stars: | 2024-03-13 | by ( Marianne Guenot | ) www.businessinsider.com time to read: +5 min

Mars may be 140 million miles away, but its gravitational pull could be impacting Earth's oceans. Scientists at the University of Sydney in Australia believe the red planet's tug is creating "giant whirlpools" in the oceans called eddies, which can shift the deep-sea floor. This, they claim, is part of a 2.4-million-year climate "grand cycle" on Earth that has been ongoing for at least 40 million years. The red planet's orbit and ours are locked in an intricate dance, and every so often, these line up so that Mars' gravitational pull on Earth is just a little more intense — this is called resonance. This information is crucial when refining models helping us see how our planet's intricate climate will progress over time.

Persons: Adriana Dutkiewicz, NASA's, Dietmar Müller, Malin, Matthew England, Benjamin Mills, wasn't, Mills Organizations: Service, University of Sydney, Business, NASA's Goddard Space, geosciences, Nature Communications, Mars NASA, JPL, Systems, University of New, New, University of Leeds Locations: Australia, Japan, New, University of New South Wales, Sydney

Ukraine announced a withdrawal from Avdiivka on February 17 to a series of positions to the town’s west. Yet three tiny villages have since fallen to Russian forces, with Kyiv insisting they never intended to defend them. Fierce clashes have persisted around the other two villages near Avdiivka, Tonenke and Berdychi. A Ukrainian soldier prepares a shell for a drone on the front line near Avdiivka on February 20, 2024. Inna Varenytsia/ReutersDrone footage of Russian forces has repeatedly revealed a military unafraid of sending troops at speed into indefensible positions where they will likely be killed.

Persons: Gen, Oleksandr Syrskyi, Syrskyi, ” Syrskyi, Valery Zaluzhny, Volodymyr Zelensky, “, ”, Zelensky, Inna Varenytsia Organizations: CNN, Presidential Press Service, demilitarize, Soldiers, Reuters, Ukraine’s 47th Mechanized Brigade, Bradley Locations: Avdiivka, Ukraine, Russian, Moscow, ”, Russia, Col, Kyiv, Orlivka, Berdychi, Ukrainian, Ukraine’s

☆ Why Zelensky’s plea will fall on many deaf Republican ears
▼ + stars: | 2024-02-26 | by ( Stephen Collinson | ) edition.cnn.com time to read: +13 min

CNN —There is a simple reason why many Republicans will snub Ukrainian President Volodymyr Zelensky’s desperate plea for billions of dollars in arms and ammunition. He told CNN’s Kaitlan Collins in an interview in Kyiv Sunday that Republicans such as Trump ally Ohio Sen. J.D. Vance – who have been speaking out against more Ukraine aid – do not comprehend the stakes of the conflict. How Trump transformed the GOPThe Ukraine war funding showdown highlights how America’s domestic politics are already reverberating around the globe. The splits in the GOP over Ukraine were exposed last week when 26 Senate Republicans voted against the bill containing Israel and Ukraine aid while 22 backed it.

Persons: Volodymyr Zelensky’s, Donald Trump, Joe Biden, It’s, Zelensky, CNN’s Kaitlan Collins, Ohio Sen, J.D, Vance –, –, ” Zelensky, Trump, Mitch McConnell, Vladimir Putin, Putin –, III, Biden –, Putin, Alexey Navalny, Dwight Eisenhower, Richard Nixon, Ronald Reagan, George H.W, Bush, Matt Gaetz, ” Trump, Mike Johnson –, Biden, Johnson, ” Jake Sullivan, CNN’s Dana, •, • There’s, Vance, ” Vance, ’ ”, ” Zelensky –, CNN’s Collins, Avdiivka –, he’s Organizations: CNN, America, Republican, Kyiv Sunday, Trump, Ohio, GOP, NATO, Party, Trump Republicans, Conservative Political, Florida, Ukraine, White, Ukraine –, Munich, Conference, Republicans Locations: Europe, Russia, United States, Ukraine, Kyiv, Soviet, Washington, America, Mexico, “ State, South Carolina, European, China, Taiwan, Avdiivka, Israel, There’s

☆ Russia was ridiculed at the start of the war. Two years on, it has reasons to be confident
▼ + stars: | 2024-02-23 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +9 min

Internal political frictions and the replacement of popular military chief General Valerii Zaluzhnyi has also fueled concerns over military strategy going forward. "I think for Ukraine, there's really quite minimal difference between a president who can't deliver lethal aid and a president who won't deliver lethal aid. Russia's President Vladimir Putin listens while then-U.S. President Donald Trump speaks during a press conference in Helsinki, Finland, in 2019. Russian President Vladimir Putin smiles while visiting an aviation plant on February 21, 2024, in Kazan, Russia. "The dispute over mobilization is happening at a time when most authorized U.S. military aid is close to exhausted and Congress has yet to pass a new aid package."

Persons: Moscow —, Valerii Zaluzhnyi, there's, James Nixey, that's, Putin, Donald, Trump, Nixey, Vladimir Putin, Donald Trump, Brendan Smialowski, Alexei Navalny, Kurt Volker, he'd, Avdiivka, Volker, Volodymyr Zelenskyy, David Kirichenko, Kirichenko Organizations: Anadolu, Getty, Kyiv —, U.S, Russian, AFP, NATO, CNBC, Analysts, Institute for, Russia, Manpower, Kremlin, Center for, Armed Forces of, Bloomberg Locations: Ukrainian, Bakhmut, Donetsk Oblast, Ukraine, Russia, Moscow, Kyiv, Avdiivka, Eurasia, Helsinki, Finland, West, U.S, Russian, Kazan, Donetsk, Armed Forces of Ukraine

☆ Trump’s incendiary NATO remarks send very real shudders through Europe
▼ + stars: | 2024-02-12 | by ( Nick Paton Walsh | ) edition.cnn.com time to read: +7 min

NATO gives it a global bedrock of legitimacy, support for the dollar, and the post-Soviet hegemony it thrives upon. Saturday’s misunderstanding considered, Trump’s comments come at a devastatingly bad time for Europe. The more the US bemoans its allies and their miserly neglect of NATO, and withdraw from it, the less powerful it is. Is NATO willing to go to war with Moscow over Russian-speaking parts of the Baltic state of Estonia? He is not simply saying the US won’t help NATO allies who haven’t paid.

Persons: Donald Trump, Trump, doesn’t, –, Vladimir Putin, Putin, Tucker Carlson, Russia’s, ’, Charles Michel, Trump’s, haven’t Organizations: London CNN, Trump, NATO, Republican, GOP, Putin, Fox News, Kremlin, Senior, Britons, European Locations: Russia, Europe, Ukraine, Kyiv, America, Moscow, Kherson, Mykolaiv, Romania, France, Baltic, Estonia, Svalbard, Russian, Finland, Sweden, Western Europe

☆ The Fed probably won’t cut rates in March. Here’s what that means for markets
▼ + stars: | 2024-02-11 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

Investors now expect that the Fed will begin easing back rates in May or June, according to the CME FedWatch Tool. Before the Bell: What does the Fed’s signal that it won’t cut rates in March mean for markets? I think what’s important for the markets themselves is the fact that the Fed has signaled they’re going to cut rates. So, they’re going to cut rates at some point this year, probably May or June is going to be the first cut that we get. There’s a lot of areas where your earnings … start to reaccelerate higher, and that’s a good thing.

Persons: Stocks, Jerome Powell, Bell, Matt Orton, I’ve, We’re, it’s, Matt Egan, Read, Price Organizations: CNN Business, Bell, New York CNN, Investors, Fed, Raymond James Investment Management, The Conference, Conference, Avis Budget Group, Hasbro, Cola, Molson Coors, The, Labor Statistics, Kraft, Heinz, The Commerce Department, National Association of Home Builders, University of Michigan Locations: New York, Wells Fargo

☆ CEOs are feeling more confident about economy — and concerned about the election
▼ + stars: | 2024-02-08 | by ( Matt Egan | ) edition.cnn.com time to read: +2 min

New York CNN —US business leaders are feeling more bullish about the direction of the economy — even as their worries about the upcoming presidential election mount. The survey found 36% of CEOs expect economic conditions to improve in the short term, up significantly from 19% last quarter. In another sign that recession fears are ebbing, just 27% of the CEOs expect economic conditions to worsen over the next six months. However, business leaders are growing concerned about how the political situation could impact their businesses. About one-third (32%) of the CEOs report economic conditions to be better than six months ago, up from just 18% at the end of last year.

Persons: That’s, ” Roger Ferguson Organizations: New, New York CNN, The Conference, Conference Board, Business, Conference Locations: New York

☆ Fed Chair Powell: The ‘time is coming’ for a rate cut
▼ + stars: | 2024-02-04 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

New York CNN —Federal Reserve Chair Jerome Powell said the time is coming for interest rate cuts, but asked Americans for a bit more patience in the central bank’s fight against inflation. That means the Fed is due to cut rates in 2024, which officials themselves projected in December. But the central bank’s January policy statement pushed back on expectations of the first rate cut coming at their next meeting in March. Still, financial markets see a 20% chance the Fed will cut rates in March and a 71.3% chance they cut in May, according to the CME FedWatch Tool. But that hasn’t stopped Congress from pressuring Powell to cut rates.

Persons: Jerome Powell, “ We’ve, ” Powell, ”, Price, Powell, “, Scott Pelley, can’t, hasn’t, Democratic Sen, Sherrod Brown, ” Brown, Brown, Elizabeth Warren, we’re Organizations: New, New York CNN — Federal, CBS, Fed, Federal Reserve, Governors, Democratic, Banking, New York Community Bancorp, New York Community Locations: New York, Street, Ukraine, Asia, ”

Broadly, the poll shows support for Israel and the Biden administration's handling of the situation ebbing slightly further across the board. The poll shows 33% of Republicans now say Israel’s military response has gone too far, up from 18% in November. The poll shows 35% of U.S. adults now describe Israel as an ally that shares U.S. interests and values. Thirty-six percent of U.S. adults say the U.S. is not supportive enough of the Palestinians, up slightly from 31% December. A similar share of U.S. adults say that about negotiating the establishment of an independent Palestinian state.

Persons: Melissa Morales, “, ”, Morales, Biden, Israel, they're, ” Morales, John Milor, Milor, ‘ ’, what's, Joe Biden, Sarah Jackson, ” Jackson, Yemen’s, they’ve, ” Milor, ___ Organizations: WASHINGTON, Associated Press, NORC, for Public Affairs Research, Biden, That's, Republican, Israel, Jan, Democratic Locations: U.S, Gaza, Israel, Runnemede , New Jersey, Clovis , California, Jordan, Hamas, Chicago, United States, New Jersey

SYDNEY (AP) — Across a treacherous stretch of water, the Rohingya came by the thousands, then died by the hundreds. Last year, nearly 4,500 Rohingya — two-thirds of them women and children — fled their homeland of Myanmar and the refugee camps in neighboring Bangladesh by boat, the United Nations’ refugee agency reported. On Thursday, Indonesian officials said another boat carrying Rohingya refugees landed in the country’s northern province of Aceh. Global indifference toward the Rohingya crisis has left those languishing in the overcrowded camps with few alternatives to fleeing. “Of course I understand how dangerous the boat journey by sea is,” Ayub says.

Persons: —, Marzuki, Andi Susanto, ”, Babar Baloch, — that’s, Mohammed Ayub, Myanmar’s, Ayub, ” Ayub, “, It’s, UNHCR’s Baloch, Mohammed Taher’s, Mohammed Amin, Taher, ” Taher, Niniek Karmini Organizations: SYDNEY, United Nations ’, UNHCR, Fishermen, Associated Press Locations: Myanmar, Bangladesh, Bengal, Andaman, Aceh, Lhokseumawe, Asia, Indonesia, Malaysia, UNHCR’s, Jakarta

☆ 'Argylle' is getting panned by critics who are calling it 'exceedingly hollow' and 'unbearably smug'
▼ + stars: | 2024-02-01 | by ( Olivia Singh | ) www.businessinsider.com time to read: +1 min

Sam Rockwell is a standout as an unconventional spy, but most of the cast is underused. Sam Rockwell as Aidan and Bryce Dallas Howard as Elly Conway in "Argylle." — Pete Hammond, Deadline"Most of the other supporting players — especially Cena and Samuel L. Jackson as yet another shadowy covert operative — appear in just enough scenes to make you wish their roles were more than glorified bit parts." — Matt Singer, Screen Crush"The overstuffed cast leaves legends like Samuel L. Jackson and Bryan Cranston mostly yelling in empty rooms." — Richard Lawson, Vanity Fair"You may go into 'Argylle' wondering, per the film's curiosity-baiting tagline, who is the real Agent Argylle?

Persons: Sam Rockwell, Aidan, Bryce Dallas Howard, Elly Conway, Peter, MARV, Matthew Vaughn, Pete Hammond, Cena, Samuel L, Jackson, — Matt Singer, Bryan Cranston, — Ben Travis, — Richard Lawson, assuredly, David Fear, Stone Organizations: Universal Pictures, Apple Locations: Ebbing , Missouri, Empire

☆ Falling Domestic Fares and an A.I. Arms Race: What Travelers Can Expect in 2024
▼ + stars: | 2024-01-18 | by ( Christine Chung | ) www.nytimes.com time to read: +21 min

Arms Race: What Travelers Can Expect in 2024 At the start of what promises to be a very busy year, we look ahead at what you’re likely to encounter. With 2023 in the rearview mirror, we look ahead at what travelers will face in 2024. At United Airlines, for example, smarter software can offer rebooking options and issue food and lodging vouchers when a flight is canceled, rather than just rebooking a flight. United Airlines has suspended its flights indefinitely, said Josh Freed, a United spokesman. This year, travelers are expected to choose faraway places and board small ships, according to Virtuoso, the consortium of luxury travel agencies.

Persons: Chanelle, Hayley Berg, ” Ms, Berg, “, Robert W, Mann Jr, ”, Chad Burt, Oren Etzioni, Gilbert Ott, Hopper, Greg Forbes, Delta’s, Neville Pattinson, Mr, Pattinson, biometrics, Laura Lindsay, Joshua Smith, Smith, Laurel Brunvoll, Michael Zeiler, Airbnb, We’ve, Jamie Lane, ‘, ’ ”, Jan Freitag, “ We’ve, David Whiteside, Brian Kelly, Guy, Leigh Rowan, “ There’s, Kelly, Rowan, ” Mr, James Thornton, Sharm el Sheikh, Khaled Ibrahim, Harry Rubenstein, Rubenstein, Eyal Carlin, Josh Freed, Jack Ezon, Tom Marchant, Beth McGroarty Organizations: World Tourism Organization, International Air Transport Association, Analysts, Express Global, ”, airfare, University of Washington, United Airlines, Transportation, Administration, Salt Lake, International Airport, Denver International Airport, Delta Air Lines, U.S . Customs, Border Protection, La Guardia Airport, Los Angeles International Airport, biometrics, Thales, Air, American Airlines, Global, “, —, MidX Studios, LivSmart Studios, Hilton, Hyatt Studios, Accor Hotels, Boston University, Visa, Mastercard, Walmart, Target, Savanti, Chase, Intrepid Travel, Amisol Travel, East Travel Alliance, United, Consumers, Ki’ama, Wellness, Global Wellness Institute Locations: United States, Point.me, Salt, North America, London, Rome, Tokyo, Cancún, Las Vegas, Cayman Islands, Polynesia, Europe, Norway, Denmark, Air Canada, Bergen, Flam, Scandinavia, Italy, France, Malta, Slovenia, Maryland, Spain, Portugal, Britain, Egypt, India, Mexico ; Cape Girardeau, Mo, Niagara Falls, N.Y . Texas, Burnet, Sulphur Springs, New York, Vienna, Marriott, Israel, Jordan, Oman, Oman —, Tunisia, Northern Africa, Sharm, Cairo, Amisol Travel Egypt, Jerusalem, Tel Aviv, Ramle, Kimberley, Western Australia, Mitre, Patagonia, Ki’ama Bahamas, Bahamas, South Africa, Hudson, Tuxedo Park, N.Y, Malibu , Calif, Mexico

☆ The stock market has cooled off to start 2024, but it's still checking most of the bull market boxes
▼ + stars: | 2024-01-13 | by ( Michael Santoli | ) www.cnbc.com time to read: +8 min

The small-cap Russell 2000 has dropped close to 4% against a fractional gain in the S & P 500 year to date. In broad terms, the S & P 500 could retreat to 4600 or so – about 4% down from here – and still be in a routine technical check-back to its latest launch point in early December. Todd Sohn of Strategas notes that the Invesco S & P 500 Equal Weight ETF (RSP) saw inflows go vertical last year to $13.5 billion, 30% above its prior 12-month record. Betting on 'peacetime' Fed cuts Right or wrong, the market debate right now can never get far before turning into a Fed-policy-path discussion. Last week's CPI and PPI data added to the market's collective conviction that inflation's downside momentum is strong, opening the way for "peacetime" Fed rate cuts.

Persons: that's, Russell, Ned Davis, Tim Hayes, Tony Pasquariello, Goldman Sachs, Henry McVey, KKR's, McVey, Morgan Stanley, Todd Sohn, Strategas, they're, Jerome Powell Organizations: Ned Davis Research, Goldman, Nasdaq, Apple, CPI, PPI Locations: U.S

☆ Louis Vuitton stages dramatic runway show in Hong Kong
▼ + stars: | 2023-11-30 | by ( Stephy Chung | Oscar Holland | ) edition.cnn.com time to read: +8 min

Many of the looks were completed with naval accessories, like raffia bucket hats and Louis Vuitton Keepall 25 bag hand-embrodiered with seashells. Musician Ma Siwei and actor Dylan Wang at the Louis Vuitton Men's fashion show in Hong Kong, China. Louis Vuitton opened its first boutique in Hong Kong in 1979. Many of the looks were completed with naval accessories, like raffia bucket hats and Louis Vuitton Keepall 25 bag hand-embrodiered with seashells. “I definitely knew I wanted Hong Kong to be my second stop after Paris,” he said of his Louis Vuitton show schedule.

Persons: Hong Kong CNN — Louis Vuitton’s, Pharrell Williams, Pont, Hong, Anson Lo, Song, ”, Williams, ” —, —, Louis Vuitton, Ma Siwei, Dylan Wang, Billy H.C, Kwok, Virgil Abloh, Louise Delmotte, “, Louis Vuitton’s, junkboat, Dior, Louis Vuitton's, Lam Yik, Tyrone Siu, Reuters Louis Vuitton’s, Lorraine Schwartz, it’s, ” Williams, “ You’re Organizations: Hong Kong CNN, Hollywood, CNN, Louis, Paris, Vuitton, National Security Law, Hong Kong Tourism Board, ”, Bloomberg, Getty, K11 Group, Stars, Victoria, Reuters, Reuters Louis Vuitton’s womenswear Locations: Hong Kong, Asia, Hong, Victoria Harbour, American, Paris, Hawaii, China, Victoria Dockside, Huangpu, Shanghai, South Korea

☆ Consumers Pulled Back on Spending, Inflation Eased in October
▼ + stars: | 2023-11-30 | by ( Gwynn Guilford | ) www.wsj.com time to read: 1 min

Markets are betting new data from the Personal Consumption Expenditures Index, one of the most closely-watched gauges of inflation, will put the Fed on pace to cut rates in 2024. Illustration: John RucoskyAmericans slowed their spending in October and inflation continued cooling as the economy downshifted into fall after a fast-paced summer. Consumer spending rose 0.2% in October, down sharply from a 0.7% rise in September, the Commerce Department said Thursday. The October reading marked the slowest increase since May. The combination of ebbing income growth, high interest rates and prices, dwindling pandemic savings and the resumption of student-loan payments is eroding Americans’ ability to keep boosting their spending as briskly as they did through the summer, economists say.

Persons: Dion Rabouin, John Rucosky Organizations: Commerce Department

☆ Consumers Pulled Back on Spending in October
▼ + stars: | 2023-11-30 | by ( Gwynn Guilford | Nick Timiraos | ) www.wsj.com time to read: 1 min

Consumers saw inflation cool in October after gasoline prices fell and underlying price pressures eased. The report suggests the Fed is likely done raising interest rates. Photo: Brandon Bell/Getty ImagesAmericans slowed their spending in October and inflation continued cooling as the economy downshifted from a fast-paced third quarter. Consumer spending rose 0.2% in October, down sharply from a 0.7% rise in September, the Commerce Department said Thursday. The combination of ebbing income growth, high interest rates and prices, dwindling pandemic savings and the resumption of student loan payments are eroding Americans’ ability to keep boosting their spending as briskly as they did through the summer, economists say.

Persons: Brandon Bell Organizations: Getty, Commerce Department

☆ Morning Bid: November bids adieu with inflation data, OPEC
▼ + stars: | 2023-11-30 | by ( ) www.reuters.com time to read: +5 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 26, 2023. With signs of turn emerging in Federal Reserve policy guidance and October PCE inflation readings set to encourage that later in the day, rate cut fever was in full flow across the Atlantic too. Headline annual inflation in the bloc fell as low as 2.4% - within arm's length of the ECB's 2% target. Later on Thursday, U.S. PCE inflation for the prior month is pencilled to fall 3.0% from 3.4% - with a core also ebbing to 3.5%. "Monetary policy is in a good place," Cleveland Fed President Loretta Mester said on Wednesday, echoing comments from previously hawkish Fed governor Christopher Waller the previous day.

Persons: Brendan McDermid, Mike Dolan, policymaker Fabio Panetta, Loretta Mester, Christopher Waller, John Williams, Christine Lagarde, Megan Greene, Kroger, Bernadette Baum Organizations: New York Stock Exchange, REUTERS, Treasury, Federal, European Central Bank, Bank of Italy, policymaker, U.S ., ECB, Cleveland Fed, Wall, OPEC, Dallas Fed, PMI, York Federal, Bank of England, Academy Sports, Rock Biotech, Titan, Reuters, Thomson Locations: New York City, U.S, China, Canada, Vienna, Automotive, Duluth, BOS, Jan

The economy was even hotter in the third quarter than initially believed, according to an update Wednesday from the Bureau of Economic Analysis. Increased investment and government spending drove the higher estimate. in 3Q23, up from initial estimate of +4.9% … personal consumption revised lower while business investment revised higher,” Liz Ann Sonders, chief investment strategist at Charles Schwab, posted on social media. “Ultimately, excess savings accumulated during the pandemic helped boost consumer spending and delay the onset of recession,” BCA Research wrote on Wednesday. “However, the tailwind from excess savings is ebbing.

Persons: ann, Liz Ann Sonders, Charles Schwab, Consumers, Monday’s Organizations: Gross, BEA, “, Federal Reserve Bank, Atlanta’s, Research, San Francisco Fed, BCA, Federal Reserve, Fed Locations: 3Q23, U.S

☆ Haley and DeSantis still can’t solve their Trump problem as time runs short in GOP race
▼ + stars: | 2023-11-20 | by ( Stephen Collinson | ) edition.cnn.com time to read: +10 min

CNN —A weekend of ferocious political exchanges laid out the tumultuous reality of the 2024 White House campaign less than a year from Election Day. The fight for the GOP nomination is about far more than a horse race between candidates. Time is quickly ebbing for one of his distant Republican rivals to recast the race less than two months before voting begins. No lawyer, White House staffer, campaign adviser, political party or institution has ever been able to curb Trump’s impulses. “We are turning up the heat and brightening the spotlight on exactly what it would look like if he’s allowed back in the White House,” a Biden campaign official told CNN’s Arlette Saenz of Trump.

Persons: Donald Trump, Trump, Nikki Haley, Haley, “, ”, Trump’s, it’s, America’s, Ron DeSantis, … Donald Trump, Biden, ” DeSantis, CNN’s Jake Tapper, Joe Biden, Father Time, DeSantis, John Walker, CNN’s Kit Maher, ” Walker, Mike Pence, Chris Christie –, Tanya Chutkan, Jack Smith, Arthur Engoron, ’, ” Trump, Xi Jinping, he’s, CNN’s Arlette Saenz, “ Trump, ” Biden, Greg Abbott Organizations: CNN, GOP, South Carolina Gov, White, Trump, United Nations, Florida Gov, University of New, “, Union, Republican, New, New Jersey Gov, Biden, Lone Star State’s, US Locations: Iowa, University of New Hampshire, “ State, Florida, New Jersey, Washington, New York, China, San Francisco, America, Nazi Germany, Texas, United States

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