DIRS.INFO The most relevant business & tech news

☆ Fed and European Central Bank could cut interest rates in September, Morgan Stanley strategist says
▼ + stars: | 2024-06-28 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +2 min

U.S. Federal Reserve Chair Jerome Powell delivers remarks during a press conference following the announcement that the Federal Reserve left interest rates unchanged, in Washington, U.S., June 12, 2024. The U.S. Federal Reserve and European Central Bank could move to cut interest rates in September as key data provides further signs that inflation is cooling in the U.S. and the euro zone, a Morgan Stanley strategist said Friday. "We're more optimistic that both the Fed and ECB will cut rates in September," he told "Squawk Box Europe." And I think, for the Fed, inflation is continuing to fall," he added. A majority of economists polled by Reuters now anticipate the Fed will cut interest rates from its current range of 5.25% to 5.50% this September, with a further trim projected later in the year.

Persons: Jerome Powell, Morgan Stanley, Andrew Sheets, Sheets Organizations: Federal, Federal Reserve, U.S . Federal Reserve, European Central Bank, CNBC, Fed, ECB, Reuters Locations: Washington , U.S, U.S, Europe

☆ Asia-Pacific markets rise as investors assess Japan economic data and await U.S. inflation reading
▼ + stars: | 2024-06-28 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Asia-Pacific markets climbed on Friday as investors assessed key economic data out of Japan and awaited U.S. inflation reading due later in the day. The core inflation rate —which strips out prices of fresh food — rose to 2.1% from 1.9% in May. Tokyo inflation data is widely considered to be a leading indicator for nationwide trends. The country's industrial production grew 2.8% month on month in May, beating expectations of 2% from economists polled by Reuters. On a year-on-year basis, industrial production rose 0.3%.

Persons: April's Organizations: Reuters Locations: Asia, Pacific, Japan, Tokyo, South Korea, Korea

☆ Oil prices edge higher as supply risks mount
▼ + stars: | 2024-06-28 | by ( ) www.cnbc.com time to read: +2 min

Oil prices rose in early Asian trading hours on Friday, setting up a third straight weekly jump, as concerns about supply problems from escalating geopolitical tensions and weather-related disruptions offset signs of weak demand. Oil prices rose in early Asian trading hours on Friday, setting up a third straight weekly jump, as concerns about supply problems from escalating geopolitical tensions and weather-related disruptions offset signs of weak demand. Oil prices have shrugged off signs of weak demand in the United States, the biggest oil consuming nation, and rallied higher as cross-border strains between Israel and Lebanon's Hezbollah escalated. On the demand front, rising U.S. crude stockpiles and weak gasoline consumption has kept a ceiling above oil prices. Government data this week showed an unexpected jump in crude inventories in the country as fuel demand weakened.

Persons: Brent Organizations: Brent, . West Texas, FGE Energy, U.S, National Hurricane Center Locations: United States, Israel, Iran, Lebanon, Turkey, U.S, Gulf Coast, Brent

☆ More and more solo entrepreneurs are raking in $1 million. Here are the industries where business is booming.
▼ + stars: | 2024-06-28 | by ( Noah Sheidlower | ) 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. Of the 14,450 millionaire businesses in this sector, 874 have revenues over $2.5 million. Millionaire businesses make up 0.38% of all one-person businesses in this sector. Millionaire businesses in construction made up 0.24% of total one-person construction businesses. On the flip side, utilities, mining, and manufacturing ranked lowest for millionaire businesses.

Persons: —, Nick Huber Organizations: Service, Census Bureau, Business, Census, Finance

☆ Gold set for third quarterly gain; traders await US inflation data
▼ + stars: | 2024-06-28 | by ( ) www.cnbc.com time to read: +2 min

Gold prices eased on Friday, but were set for a third straight quarterly rise, while investors looked forward to U.S. inflation data due later in the day for more clarity on the Federal Reserve's interest rate-cut timeline. After adding to its gold reserves for 18 consecutive months, official data from the People's Bank of China (PBOC) showed its holdings were flat in May. A survey by the World Gold Council, however, found that more central banks may increase gold reserves within 12 months. Gold rose more than 1% in the previous session after data showed a continued, though moderate, slowdown in U.S. economic activity. A soft set of PCE figures is required to keep hopes of Fed easing alive and further support gold, City Index senior analyst Matt Simpson said.

Persons: Ilya Spivak, Michelle Bowman, Matt Simpson Organizations: Heraeus, Solar, People's Bank of China, World Gold Council, City Index Locations: Budapest, Hungary, U.S, China

☆ Dollar barges past 161 yen and eyes quarterly rise
▼ + stars: | 2024-06-28 | by ( ) www.cnbc.com time to read: +2 min

The dollar was headed for a second straight quarterly gain and jumped to a near four-decade high on the battered yen in Asia trade on Friday, ahead of a crucial U.S. inflation reading. The dollar was headed for a second straight quarterly gain and jumped to a near four-decade high on the battered yen in Asia trade on Friday, ahead of a crucial U.S. inflation reading. At 172.37 per euro it traded at a lifetime low on the common currency as yen bears test authorities' resolve. The New Zealand dollar dipped 0.3% to $0.6065 on Friday, but was up 1.5% for the quarter. The U.S. dollar index was 0.2% stronger at 106.07 on Friday for a 1.5% quarterly rise.

Persons: Ray Attrill, Donald Trump, Joe Biden, Biden, NAB's Attrill Organizations: Republican, Democratic, New Zealand, U.S, Federal Locations: Asia, Tokyo, Australia, Sydney, Atlanta, U.S

☆ Gold prices lingers near two-week low as traders eye U.S. inflation data
▼ + stars: | 2024-06-27 | by ( ) www.cnbc.com time to read: +2 min

Gold prices steadied on Thursday after falling to a two-week low in the previous session, while investors awaited U.S. inflation data for insights into how soon the Federal Reserve will cut interest rates. Gold prices steadied on Thursday after falling to a two-week low in the previous session, while investors awaited U.S. inflation data for insights into how soon the Federal Reserve will cut interest rates. Data due this week include the U.S. first-quarter gross domestic product estimates are due at 1230 GMT and the personal consumption expenditures inflation data on Friday. "Gold prices remain tangled in a tug of war between a less dovish Fed and high levels of geopolitical tension," analysts at BMI said in a note dated Wednesday. "The main driver of easing gold prices in the longer term will be greater risk-on sentiment as the global economy recovers in the later part of the decade."

Persons: Tim Waterer, Michelle Bowman, Waterer Organizations: Federal Reserve, U.S, KCM Trade, U.S ., Fed, BMI Locations: .

☆ Here are the portfolio's top 5 performing stocks since May's Monthly Meeting
▼ + stars: | 2024-06-27 | by ( Morgan Chittum | ) www.cnbc.com time to read: +7 min

The stock market had another great run since the Club's May Monthly Meeting. Here's our top-five performing portfolio names since the May 30 close through Wednesday's close, the eve of our June Monthly Meeting. AVGO YTD mountain Broadcom (AVGO) year-to-date performance Broadcom took the top spot since the May Monthly Meeting, jumping 16.7% in that timeframe. And on Wednesday, the stock mounted a late-day comeback to close up 0.25% on the day of its annual shareholder meeting. Even with their recent comeback, Salesforce shares are down more than 10% from their close May 29.

Persons: —, We're, It's, Salesforce, Snowflake —, we've, Davidson, Jim Cramer's, Jim Cramer, Jim, Brendan Mcdermid Organizations: Federal Reserve, Nasdaq, Club, Nvidia, Broadcom, dethroning Club, Microsoft, Tuesday's, Apple Intelligence, Apple, Rosenblatt Securities, Networks, Palo Alto, CNBC, Traders, New York Stock Exchange Locations: Wednesday's, China, Palo, New York City

☆ CNBC Daily Open: Micron slides, Amazon's $2 trillion
▼ + stars: | 2024-06-27 | by ( Abid Ali | ) www.cnbc.com time to read: +3 min

A trader works on the floor of the New York Stock Exchange (NYSE) during morning trading on March 4, 2024 in New York City. This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Micron slidesShares of Micron fell almost 8% in extended trading on Wednesday as its revenue forecast failed to top analysts' expectations. The stock rose 3.9% on Wednesday.

Persons: Sanjay Mehrotra, Annie Palmer, Elliott Management, Shunichi Suzuki, Australia's, Arjun Jayaraman Organizations: New York Stock Exchange, CNBC, Dow Jones, Nasdaq, Nvidia, Micron, Apple, Microsoft, Southwest Airlines, Delta, U.S ., Finance, CSI Locations: New York City, Shein, Asia, Pacific, India

☆ Using options to bet on a Nike turnaround as earnings loom
▼ + stars: | 2024-06-27 | by ( Michael Khouw | ) www.cnbc.com time to read: +3 min

Nike, which reports earnings after the bell Thursday, is trading at less than 24 times forward earnings. That's well below the longer-term average of about 29 times forward earnings. On Wednesday, Nike traded more than two times its average daily options volume. The most active call options were the September 100 calls, 8,000 of which traded at an average price of around $3.22. Declining sales (inflation-adjusted) and market share, leading to declining investor confidence, explain the lower-than-average historical multiple.

Persons: Nike's Organizations: Nike, Wednesday, North, Bloomberg, Dick's Sporting Goods, Olympic, CNBC, NBC UNIVERSAL Locations: —, NKE, China, Asia, Pacific, America, Europe, Middle East, Africa

☆ Stock futures are little changed as investors await inflation data with end of second quarter looming: Live updates
▼ + stars: | 2024-06-27 | by ( Alex Harring | ) www.cnbc.com time to read: +1 min

Stock futures are near flat Thursday night as traders await closely followed inflation data. Dow Jones Industrial Average futures slipped 36 points, or 0.1%. S&P 500 futures ticked up 0.1%, while Nasdaq 100 futures added 0.2%. In after-hours action, Nike shares slipped more than 12% after the athletic retailer cut its full-year guidance. Excluding volatile food and energy prices, the core PCE is forecast to come in 0.1% higher on the month and 2.6% on an annualized basis.

Persons: Foot Locker Organizations: New York Stock Exchange, Stock, Dow Jones Industrial, Nasdaq, Nike, PCE, Dow, Federal, Fed

☆ There's a big Fed inflation reading coming Friday. Here's what to expect
▼ + stars: | 2024-06-27 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

There could be some pretty good inflation news on the way from the Commerce Department when it releases a key economic report Friday. If that date rings a bell, it's when core PCE first passed the Fed's coveted 2% inflation target during this cycle. Should the core PCE price forecasts transpire, it will serve as a milestone of sorts. "We are in line with [the forecast] that the PCE core pricing data will come in soft," said Beth Ann Bovino, chief economist at U.S. Bank. In addition to the inflation numbers, the Commerce Department at 8:30 a.m.

Persons: Dow Jones, Beth Ann Bovino, It's, pocketbooks, Lisa Cook, Cook, Bovino Organizations: Commerce Department, Federal Reserve, U.S . Bank, Fed Locations: Brooklyn , New York

☆ Battered yen pinned near multi-decade low amid resilient dollar
▼ + stars: | 2024-06-27 | by ( ) www.cnbc.com time to read: +2 min

The yen languished near a 38-year low on Thursday and struggled on the weaker side of 160 per dollar, keeping markets on alert for any signs of intervention from Japanese authorities to prop up the currency. The yen languished near a 38-year low on Thursday and struggled on the weaker side of 160 per dollar, keeping markets on alert for any signs of intervention from Japanese authorities to prop up the currency. In the broader market, the dollar was on the front foot and stood near an eight-week high against a basket of currencies, helped in part by a weaker yen and as it rose in step with U.S. Treasury yields. In a carry trade, an investor borrows in a currency with low interest rates and invests the proceeds in higher-yielding assets. Analysts said while the risk of intervention has increased, Japanese authorities could be holding out for Friday's release of the U.S. personal consumption expenditures price index before entering the market.

Persons: Boris Kovacevic Organizations: U.S, Treasury, Ministry of Finance Locations: Japan, Tokyo

☆ CNBC Daily Open: Amazon enters $2 trillion club
▼ + stars: | 2024-06-27 | by ( Abid Ali | ) www.cnbc.com time to read: +3 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. The yield on the 10-year Treasury rose as investors parse comments from Fed officials and await key inflation data due Friday. $2,000,000,000,000Amazon's market capitalization surpassed $2 trillion for the first time on Wednesday, joining the ranks of tech giants like Apple and Microsoft. YouTube dominanceAlphabet's YouTube, the pioneer of user-generated content, continues to dominate media consumption, now accounting for nearly 10% of all TV viewership in the U.S.

Persons: Annie Palmer, Elliott Management, Sanjay Mehrotra, Rich Greenfield, Piper Organizations: CNBC, Dow Jones, Nasdaq, Nvidia, Apple, Microsoft, Southwest Airlines, Delta, Micron, YouTube, Nielsen, Netflix, Media, Disney, Warner Bros Locations: Shein, U.S

☆ Even wealthy Americans are struggling to make ends meet
▼ + stars: | 2024-06-26 | by ( Matt Egan | ) edition.cnn.com time to read: +3 min

The survey finds a notable increase over the past year of consumers making $100,000 a year or more who are concerned about making ends meet over the next 12 months. That’s up from 21.3% of Americans in that income bracket concerned about making ends meet a year earlier. Among all consumers, about one in three (34.9%) said they are concerned about making ends meet, up from 28.7% a year earlier. Forty-one percent of those between 18 and 35 years old said they are concerned about making ends meet, compared with just 22% of those over 65. For instance, 32.3% of those making $100,000 to $149,999 said they are concerned about making ends meet in the next seven to 12 months, up from 26.5% a year ago.

Organizations: New, New York CNN, Federal Reserve Bank of Philadelphia, Philly Fed, Transportation Security Administration, TSA Locations: New York

☆ S&P 500 futures fall slightly after the broader index rises for a second day: Live updates
▼ + stars: | 2024-06-26 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

U.S. S&P 500 futures fell slightly Wednesday night after the S&P 500 rose for a second day. S&P 500 futures and Nasdaq 100 futures dipped 0.19% and 0.32%, respectively. Goldman Sachs shares slid 1.7%, while JPMorgan Chase shares rose slightly. During the regular session Wednesday, the S&P 500 closed up 0.2%, while the Nasdaq Composite added 0.5%. Strategists surveyed by CNBC Pro anticipate the S&P 500 will likely end the year not even 1% higher from current levels.

Persons: Levi Strauss, Goldman Sachs, Brian Levitt, CNBC's Organizations: New York Stock Exchange, Nasdaq, Dow Jones Industrial, Micron, Bank, Federal Reserve, U.S, JPMorgan Chase, Dow Jones, Amazon, CNBC Pro, Walgreens Boots Alliance, Nike

☆ Asian shares shaky as investors wary before US inflation data
▼ + stars: | 2024-06-26 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

Risk sentiment was also capped as hawkish comments from Federal Reserve officials kept near-term U.S. rate cut expectations in check in a boost to the dollar. The comments along with data showing a stable housing market kept expectations in check over when and by how much the Fed will cut rates. Markets are pricing in 47 basis points of easing this year, with a rate cut in September pegged at 66% probability, CME FedWatch tool showed. In the currency market, the dollar index , which measures the U.S. unit against six peers, was steady at 105.64, while the euro was at $1.0715. The yen touched a 34-year low of 160.245 per dollar on April 29, prompting Tokyo to spend roughly 9.8 trillion in late April and early May to support the currency.

Persons: Androniki, Lisa Cook, Cook, Michelle Bowman, Selena Ling, OCBC, OCBC's Ling, Shri Navaratnam Organizations: Nikkei, REUTERS, Federal Reserve, . Federal, Reuters, Bank of Japan's, Brent, U.S, West Texas, Thomson Locations: Tokyo, Japan, SINGAPORE, U.S, Asia, Pacific

☆ Oil edges lower after industry group reports jump in U.S. stockpiles
▼ + stars: | 2024-06-26 | by ( ) www.cnbc.com time to read: +1 min

Crude oil storage tanks are seen from above at the Cushing oil hub, in Cushing, Oklahoma, March 24, 2016. Oil prices fell in early Asian trade on Wednesday after an industry group reported a surprise jump in U.S. stockpiles, fueling concerns about weaker-than-expected demand in the top oil consuming nation. Brent crude oil futures fell 19 cents, or 0.2%, to $84.82 a barrel by 0023 GMT. The American Petroleum Institute reported U.S. crude oil stocks rose by 914,000 barrels in the week ended June 21, according to market sources briefed on the data. API reported a 3.84 million barrel jump in U.S. gasoline stocks last week, the sources said, compared with analysts' expectation of a 1 million barrel decline.

Persons: Brent Organizations: . West Texas, American Petroleum Institute, Reuters, U.S, Federal Reserve, ANZ Bank Locations: Cushing , Oklahoma

☆ Stock market news: US stocks slide and bond yields rise as traders eye new economic data
▼ + stars: | 2024-06-26 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

US stocks ticked lower on Wednesday. Major averages ticked lower, while bond yields rose. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementUS stocks slumped on Wednesday, with major averages down as bond yields rose as Nvidia shares wavered and investors eyed fresh economic data. Nvidia shares slid as much as 1.2% in early-morning trading before paring losses, trading about 0.25% higher shortly after the opening bell.

Persons: —, Morrison, Dow Jones, Michelle Bowman Organizations: Nvidia, Service, Fed, Treasury, Here's

☆ Gold drifts lower as traders await U.S. inflation data
▼ + stars: | 2024-06-25 | by ( ) www.cnbc.com time to read: +2 min

Gold prices eased on Tuesday, while investors looked toward key U.S. inflation data due later this week that could throw some light on the Federal Reserve's interest rate cut stance. Gold prices eased on Tuesday, while investors looked toward key U.S. inflation data due later this week that could throw some light on the Federal Reserve's interest rate cut stance. Spot gold was down 0.2% at $2,327.52 per ounce as of 0339 GMT. "Technical factors in the short-term are not so positive for gold. Other Fed officials speaking this week include Fed Governors Lisa Cook and Michelle Bowman along with Richmond Fed President Tom Barkin.

Persons: Kelvin Wong, Bullion, Wong, Mary Daly, Lisa Cook, Michelle Bowman, Tom Barkin Organizations: Asia Pacific, U.S, San Francisco Fed Bank, Richmond Fed Locations: OANDA, U.S

☆ FedEx shares jump after hours as massive cost-cutting measures kick in
▼ + stars: | 2024-06-25 | by ( Ece Yildirim | In Ecedyildirim | ) www.cnbc.com time to read: +4 min

FedEx shares soared more than 15% after hours Tuesday after the company reported results that topped analysts' estimates in both earnings and revenue. FedEx further expects the demand environment to moderately improve through the next fiscal year, according to Carere. Investor's eyes are also on the company's largest segment Express, which has been struggling with margin growth the past year. Subramaniam said improving performance of the Express segment is a "top priority" for the company. USPS was the largest customer for the company's Express segment.

Persons: Brie Carere, Carere, Raj Subramaniam, Subramaniam, John Dietrich Organizations: FedEx, LSEG, Services, Federal Express Corporation, U.S . Postal Service, United Parcel Service, UPS, USPS Locations: United States

Suffice it to say, I was eager to test the Silk & Snow Wooden Bed frame. Silk & Snow Wooden Bed Frame The Silk & Snow Wooden Bed Frame is a reasonably priced bed frame made of sustainable wood that doesn’t require any tools or screws for assembly. AdvertisementThe Silk & Snow wooden bed frame uses a tool-free Japanese joinery techniqueEach piece of the wooden bed neatly frame slots together, using the Japanese joinery technique. Alex Temblador/Business InsiderThe king-sized Silk & Snow Wooden Bed Frame arrived in three large, heavy boxes. Alex Temblador/Business InsiderThe Silk & Snow Bed Frame is proof that a Japanese joinery-style wooden bed frame doesn't have to be expensive.

Persons: I'd, Read, Albert Chow, Kenneth Mo, Snow, Veritree, Alex Temblador, wasn't, haven't Organizations: Business, Thuma Locations: California, Canadian, Toronto, Southeast Asia, Vietnam

☆ Dollar steady ahead of inflation reading; yen teeters toward 160
▼ + stars: | 2024-06-24 | by ( ) www.cnbc.com time to read: +3 min

The dollar was steady on Monday as traders looked ahead to fresh clues on the U.S. inflation path that will likely influence interest rates, while talk from Japanese authorities did little to temper the yen's decline back the round number of 160. The dollar was steady on Monday as traders looked ahead to fresh clues on the U.S. inflation path that will likely influence interest rates, while talk from Japanese authorities did little to temper the yen's decline back the round number of 160. The yen weakened to 159.94 per dollar in early trade on Monday, its lowest since April 29, when the yen touched a 34-year low of 160.245 leading to Japanese authorities spending some 9.8 trillion yen to support the currency. "The combination of slowing activity, a loosening labor market and slower inflation readings make us increasingly confident that the Fed will begin reducing policy rates in September," Citi said. The Australian dollar was last at $0.6640 and the New Zealand dollar was little changed at $0.6113.

Persons: Masato Kanda, Carol Kong, Emmanuel Macron, Christopher Wong Organizations: Bank of, Commonwealth Bank of Australia, Reuters, Citi, Fed, National, New Zealand Locations: Japan, U.S

☆ Gold edges higher on softer yields; U.S. inflation data in focus
▼ + stars: | 2024-06-24 | by ( ) www.cnbc.com time to read: +2 min

Gold prices edged up on Monday as Treasury yields fell, while investors awaited key U.S. inflation data and Federal Reserve officials' comments through the week for fresh clues on the potential timing of the central bank's interest rate cut. Gold prices edged up on Monday as Treasury yields fell, while investors awaited key U.S. inflation data and Federal Reserve officials' comments through the week for fresh clues on the potential timing of the central bank's interest rate cut. Spot gold was up 0.2% at $2,325.53 per ounce as of 0333 GMT, after falling more than 1% on Friday. Benchmark 10-year U.S. Treasury yields edged down, making non-yielding bullion more attractive for investors. There are at least five Fed officials speaking this week, including San Francisco Fed President Mary Daly and Fed Governors Lisa Cook and Michelle Bowman.

Persons: Kyle Rodda, Rodda, Mary Daly, Lisa Cook, Michelle Bowman Organizations: Federal Reserve, Treasury, Capital.com, Traders, San Francisco Fed Locations: Capital.com .

☆ Hooters closes dozens of restaurants
▼ + stars: | 2024-06-24 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —Hooters is the latest chain to close dozens of locations across the United States, blaming tough economic challenges including rising food and labor costs. “Like many restaurants under pressure from current market conditions, Hooters has made the difficult decision to close a select number of underperforming stores,” a spokesperson told CNN. In that time prices ticked up 0.2% at limited service spots, which include fast casual and fast food joints. The increases, particularly in fast food prices, have caused customers to pull back on spending and complain online, eroding the sector’s reputation for affordability. It’s not just Hooters feeling the financial brunt from cash-conscious customers: Applebee’s, TGI Fridays, Boston Market, California Pizza Kitchen and bankrupt Red Lobster have all recently closed restaurants.

Persons: Danielle Wiener, Bronner Organizations: New, New York CNN, Hooters, CNN, Bureau of Labor Statistics, Boston Locations: New York, United States, Florida , Kentucky, Rhode Island , Texas, Virginia, Boston Market, California

Search resuls for: "0.2"

25 mentions found