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☆ 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

☆ 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

☆ Markets are adjusting to stubborn inflation. Election noise could spoil the calm
▼ + stars: | 2024-06-27 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

Add to that the noise surrounding the US election, and it could be a rougher second half. Central Banks in Canada and the eurozone have both cut interest rates, but inflation rose in both of those regions last month. Australia, meanwhile, saw its inflation rate rise to 4% this week, stoking fears that the Reserve Bank of Australia could soon move to raise rates again. It was already well known that no documentation was found to show who worked on the door plug. Without the bolts, the door plug incident was pretty much inevitable.

Persons: London CNN —, they’ve, Michelle Bowman, she’s, Mary Daly, Austan Goolsbee, stoking, Joe Biden, Donald Trump, ”, José Torres, Torres, wouldn’t, Joseph Stiglitz, Trump, Trump’s, Max, “, Al Michaels, Michaels, Peacock, ” Michaels, ‘, CNN Michaels, Read Organizations: CNN Business, Bell, London CNN, Federal Reserve, foibles, San Francisco Fed, Chicago Fed, Central Banks, Reserve Bank of Australia, Interactive Brokers, Treasury, Trump, Peterson Institute, Oxford Economics, Allianz, CNN, Boeing, Alaska, Alaska Airlines, National Transportation Safety Board, Alaska Air, NBC, Summer Games, Olympics Locations: London, Canada, Australia, Renton , Washington, Paris, ’

☆ EToro surveyed 10,000 retail investors to see what's in their portfolios. Here's the breakdown of how they're betting on cash, crypto, and their top 3 stock-market sectors.
▼ + stars: | 2024-06-27 | by ( Christine Ji | ) www.businessinsider.com time to read: +4 min

EToro surveyed 10,000 retail investors in 12 countries to see what they're holding in their portfolios, collecting data from the period of May 15 to June 5, 2024. Thirty-eight percent and 32% of retail investors in these countries, respectively, own cryptocurrency, compared to 27% in the US. Top stock market picksEquities remain popular among retail investors, coming in second only to cash. Unsurprisingly, technology was a top pick for retail investors eager to take advantage of the tech-driven market rally of this year. Other areas of interest include real estate, communications, and healthcare, with 30% or more of retail investors indicating that they were invested in these sectors.

Persons: —, eToro, Cash, Sam North, Cryptocurrency Organizations: Service, Business, ECB Locations: EToro, Spain, Germany

Container ships are berthed at PSA's Pasir Panjang Terminal in Singapore July 15, 2019. Global port congestion has reached an 18-month high, with 60% of ships waiting at anchor located in Asia, maritime data firm Linerlytica said this month. SEVERE CONGESTIONSingapore, the world's second-largest container port, has seen particularly severe congestion in recent weeks. "The peak season, which traditionally starts in June, was advanced by a full month, causing ocean freight rates to soar." Container freight prices from Asia to the U.S. and Europe have tripled since early 2024.

Persons: Edgar Su, Linerlytica, Yemen's, Jayendu Krishna, Drewry, PortCast, Niki Frank, Dimerco, Jonathan Gold, Judah Levine, Jared Bernstein, Gene Seroka, Peter Sand, Jeslyn Lerh, Lisa Baertlein, Lisa Barrington, Miyoung Kim, Kim Coghill Organizations: REUTERS, Retailers, Ships, Drewry Maritime Advisors, Singapore, Singapore's, Port Authority, Drewry, Keppel, Tuas, Maersk, DHL Global, Asia, Descartes, National Retail Federation, Container, U.S ., of Economic Advisers, U.S, DHL, Thomson Locations: Pasir Panjang, Singapore, SEOUL, SINGAPORE, Asia, Africa, Malaysia's Port Klang, Tanjung Pelepas, Shanghai, Qingdao, China, South Korea, U.S, Europe, U.S . East Coast, U.S . West, of Los Angeles, Los Angeles, Seoul

☆ BofA's Michael Widmer: Most central banks aim to increase gold holdings
▼ + stars: | 2024-06-25 | 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 EmailBofA's Michael Widmer: Most central banks aim to increase gold holdingsMichael Widmer, Bank of America head of Metals Research, joins 'Money Movers' to discuss BofA's bullish call for gold as the bank projects the commodity to hit $3,000 in value.

Persons: BofA's Michael Widmer, Michael Widmer Organizations: Bank of America, Metals Research

REUTERS/Bobby Yip/File Photo Purchase Licensing Rights New Tab , opens new tabJune 26 (Reuters) - A look at the day ahead in Asian markets. The first definition that appears in an online search for the meaning of "resilience" is "the capacity to withstand or to recover quickly from difficulties; toughness." In that light, the direction Asian markets are liable to take on Wednesday is hard to call. Broader concerns about the weakness of the yen and potential intervention from Japanese authorities, and the Chinese yuan's steady depreciation, still hang heavily over Asian markets. Here are key developments that could provide more direction to markets on Wednesday:- Australia inflation (May)- RBA assistant governor Kent speaks- Singapore manufacturing production (May)Sign up here.

Persons: Bobby Yip, Tuesday's, Christopher Kent, Kent, Jamie McGeever Organizations: Hong Kong Stock Exchange, REUTERS, Nvidia, Tuesday's U.S, Reserve Bank of Australia, Bank of Japan, U.S, Reuters, Thomson Locations: Hong Kong, China, U.S, Tuesday's, Singapore, Australia

☆ Gold could rally to $3,000 over the next 12-18 months, according to Bank of America
▼ + stars: | 2024-06-24 | by ( Spencer Kimball | ) www.cnbc.com time to read: +2 min

Gold prices could hit $3,000 per ounce over the next 12 to 18 months if demand increases among large institutional investors, according to Bank of America commodity strategists. Central bank demand is also a positive sign, according to Bank of America. Monetary authorities are planning to increase their purchases of gold, according to the World Gold Council's central bank survey . Central banks are increasing gold reserves as a hedge against inflation, according to the survey. Monetary authorities are also reducing U.S. Treasury holdings and increasing gold reserves amid worries about the dominance and health of the dollar, according to Bank of America.

Organizations: Bank of, Federal Reserve, Bullion Market, Bank of America, Monetary, World Gold, Treasury Locations: Central, China, Beijing, @GC

☆ Should central banks be cutting, holding or hiking rates? CNBC runs through the forecasts
▼ + stars: | 2024-06-20 | 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 EmailShould central banks be cutting, holding or hiking rates? CNBC runs through the forecastsCNBC's Steve Sedgwick and Arabile Gumede discuss the expectations for central bank action as interest rate outlooks differ around the world.

Persons: Steve Sedgwick, Arabile Gumede Organizations: CNBC

☆ Bank of England Holds Rates Steady, Despite Slower Inflation
▼ + stars: | 2024-06-20 | by ( Eshe Nelson | ) www.nytimes.com time to read: +1 min

The Bank of England held interest rates on Thursday at their highest level since 2008 even as inflation in Britain slowed to 2 percent in May, an important milestone. Policymakers kept rates at 5.25 percent, where they have been for 10 months. “It’s good news that inflation has returned to our 2 percent target,” Andrew Bailey, the governor of the Bank of England, said in a statement. This month, the European Central Bank cut rates for the first time in about five years but warned that it would take a cautious approach to future cuts. The U.S. Federal Reserve also indicated it would reduce rates just once this year, down from an earlier projection of three cuts.

Persons: ” Andrew Bailey, we’ve Organizations: of England, Bank of England, European Central Bank, U.S . Federal Locations: Britain

☆ More rich countries worried about the dollar want to buy gold
▼ + stars: | 2024-06-20 | by ( Huileng Tan | ) www.businessinsider.com time to read: +1 min

Central banks from advanced economies plan to buy more gold, according to a World Gold Council survey. Meanwhile, central banks expect the US dollar's share in global reserves to fall in the next five years. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Even central banks from advanced economies are planning to load up on gold, according to a World Gold Council survey released on Monday. This story is available exclusively to Business Insider subscribers.

Persons: —, they're Organizations: Gold, Service, Business Locations: China

☆ China's yuan is tumbling amid US sanctions and as central banks boost dollar holdings
▼ + stars: | 2024-06-20 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

China's yuan is falling as holders eye the risk of western sanctions. AdvertisementChina's yuan is in the midst of a steep decline as holders of the currency eye the risk of US sanctions. Central banks, meanwhile, are looking to dump the yuan while raising their holdings of the US dollar. Nearly 20% of central bank reserve managers said they planned on raising dollar holdings over the next one to two years, while 12% said they planned on reducing yuan holdings, according to a survey from the Official Monetary and Financial Institutions Forum. Lawmakers are reportedly already drafting sanctions to impose against Chinese banks, sources told The Wall Street Journal in April.

Persons: —, Yuan, They've Organizations: US Treasury, Service, Russia's, Monetary, Financial, Treasury, Lawmakers, Wall Street Journal, Bloomberg Locations: China, Russia, Ukraine, Moscow

☆ UK inflation is finally back at 2%. Here’s why rate cuts are still ‘off the table’
▼ + stars: | 2024-06-19 | by ( Hanna Ziady | ) edition.cnn.com time to read: +3 min

That suggests the Bank of England won’t follow the European Central Bank in cutting interest rates when it meets Thursday. A rate cut in August, when UK policymakers meet next, is now also less likely. Other economists, including analysts at Nomura, thought an August rate cut was still possible if pay rises and the price of services cooled further. “For an August rate cut, we will need other economic news to play ball,” the analysts wrote in a note. UK inflation peaked at 11.1% in October 2022, driven to a 41-year high by surging food and energy costs.

Persons: ”, Zara Noakes, Rebecca Florisson, Jake Finney Organizations: London CNN —, Bank of, Bank of England, European Central Bank, JPMorgan Asset Management, Nomura, “ Workers, Work Foundation, Lancaster University, PwC Locations: United Kingdom, England, United States, Europe

☆ Central banks need to cut rates soon to avoid recession: Atomos
▼ + stars: | 2024-06-18 | 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 EmailCentral banks need to cut rates soon to avoid recession: AtomosHaig Bathgate, head of investments at Atomos, discusses central bank decision-making and political risk in Europe and the U.S.

Persons: Atomos Haig Bathgate Locations: Europe, U.S

☆ BlackRock says inflation could be an unwelcome side effect of the AI-driven productivity boom
▼ + stars: | 2024-06-18 | by ( Filip De Mott | ) www.businessinsider.com time to read: +1 min

Capital spending on AI data centers could bring back inflation before boosting economy, BlackRock said. In the short term, AI winners will drive returns up for six to 12 months. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . "Capital spending on AI data centers has boomed since last year's ChatGPT moment," analysts led by Jean Boivin wrote on Monday.

Persons: —, Jean Boivin Organizations: BlackRock, Service, Business

☆ These are the most popular trades today — and the best contrarian trades to go against the crowd
▼ + stars: | 2024-06-18 | by ( Sarah Min | ) www.cnbc.com time to read: +1 min

By far, the most dominant trade on Wall Street is going long the "Magnificent Seven." Investors are the most bullish they've been on the mega-cap tech stocks going back to October 2020, the firm found. In fact, about 69% of respondents were bullish on the group, making the Magnificent Seven the most crowded trade for 15 straight months. One highly contrarian trade Bank of America identified could be going long bonds. Going long oil is another contrarian trade that could work as an hedge against geopolitical risk, the Wall Street firm said.

Persons: they've, What's, BofA Organizations: Bank of America Securities, Bank of America

☆ What’s next for the stock market? Here’s one thing you could do if shares start sinking
▼ + stars: | 2024-06-17 | by ( Krystal Hur | ) edition.cnn.com time to read: +8 min

The market has been on a tear in 2024, driven higher by robust corporate earnings and the artificial intelligence boom. Traders expect the Fed to begin easing rates in September at the earliest, according to the CME FedWatch Tool. If inflation is cooling down but the Fed is still expected to keep its key lending rate higher for longer, what does that mean for the stock market? The data will tell us that, but I think the big takeaway for us is [inflation] going in the right direction. Do you expect some of the cash that’s on the sidelines to enter the stock market?

Persons: Price, Wall, Bell, Jack Janasiewicz, Jerome, Powell, we’re, it’s, wouldn’t, you’re, Hilary Whiteman, Read, Sam Altman, Steve Wozniak, OpenAI, Altman, Samantha Murphy Kelly, Tim Cook, ”, Ben Wood, “ Apple, Siri Organizations: CNN Business, Bell, New York CNN, Federal, Nasdaq, Fed, Traders, Solutions, You’re, Apple, Insight, CNN, Apple Intelligence Locations: New York, United States, West Coast, Hawaii, California, San Jose , Los Angeles, San Francisco, San Diego, Honolulu, Australia, Sydney, Melbourne, Victoria, Adelaide, South Australia

☆ Saudi Arabia looking to China for a lifeline for its futuristic city could mean trouble for the US
▼ + stars: | 2024-06-14 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, we're looking at how Saudi Arabia is courting Chinese investors for help with its massive, futuristic city facing financial issues. NeomSaudi Arabia's dreams of a futuristic city are turning into a financial nightmare, and one of its solutions could spell trouble for the US. Since 2017, the Kingdom has touted big plans for the desert megacity Neom . AdvertisementThe city plans to heavily use renewable energy, a key area of focus for China as it digs itself out of its economic hole . But a soft real estate market and a trail of angry business partners and customers are threatening to thwart his big plans .

Persons: —, Prince Mohammed bin Salman's, Neom's, hasn't, Tom Porter, Prince, Aaron Weiner's, Weiner, Justin Sullivan, it's, they'd, Tyler Le, Giovanna Ventola, Michael Shvo, Shvo, Tesla, Jose Uribe, Sen, Bob Menendez, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover, Annie Smith, Amanda Yen Organizations: Service, UEFA, Business, Neom, US, International Monetary Fund, Bank of America, Apple, Apple Intelligence, OpenAI, Amazon, Bonnaroo Music, Arts Festival, Post Malone Locations: Saudi Arabia, Neom, Saudi, Kingdom, China, Gaza, New York, London

The markets and Fed diverge againThe bull market rally is continuing to run on Thursday. The S&P 500 is poised to set yet another record, as investors see inflation in retreat — even if Fed policymakers don’t quite see it that way. The gulf between investors and the central bank is widening again. That makes the Fed more hawkish than other central banks, especially those in Europe, that are expected to trim borrowing costs several times this year. He reiterated that inflation remained above the central bank’s 2 percent target and that U.S. households’ spending power had diminished over the past two years.

Persons: Jay Powell, ” Organizations: Fed Locations: Europe

☆ There's a 'stealth erosion' in global US dollar reserves, but there's no dominant replacement yet
▼ + stars: | 2024-06-13 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Read previewThe US dollar is in a state of "stealth erosion," the International Monetary Fund, or IMF, wrote in a report on Tuesday. This effect masked the shift of central banks and governments out of dollar reserves. Instead, the shares of "non-traditional reserve currencies" have risen, according to the IMF. These include the Australian dollar, Canadian dollar, Chinese renminbi, South Korean won, Singaporean dollar, and Nordic currencies. AdvertisementThe dollar's decline in FX reserves doesn't appear to be about sanctionsThe IMF's report comes amid ongoing discussions about de-dollarization.

Persons: — Organizations: Service, International Monetary Fund, Business, US Federal Reserve, IMF, Canadian, South Korean, greenback Locations: Russia, Moscow, Ukraine

☆ These top ETFs and funds are beating the S&P 500 — and analysts still see further upside
▼ + stars: | 2024-06-12 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

The first half of the year has generally been good for the market, with the S & P 500 and the Nasdaq repeatedly reaching record highs. Year-to-date, the S & P 500 is up around 13% and the Nasdaq has risen 14.9%. Against that uncertain backdrop, investors might be looking at exchange-traded funds or mutual funds to diversify their investments. Morningstar provided the list of top-performing funds, which all beat the S & P 500. Using FactSet, that list was screened for funds that analysts give 10% or more upside, and that at least half give a buy rating.

Persons: Thomas Poullaouec, Rowe Price, Ed Clissold, Ned Davis, Morningstar, Richard Bernstein Organizations: Nasdaq, U.S . Federal Reserve, Ned, Ned Davis Research, CNBC Pro, Copper Miners, X Copper Miners, Industrial, Richard Bernstein Advisors Locations: Asia, Pacific, U.S, Turkey

☆ The Fed is winning its battle against inflation. So why isn’t it cutting rates?
▼ + stars: | 2024-06-11 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +4 min

That’s why it is crucial for central bankers to insist on 2%. “By communicating an explicit inflation target — and then delivering inflation consistent with that target — central banks earn credibility with the public,” New York Fed President John Williams said in a recent speech. Stripping away highly volatile categories such as food and energy — a measure referred to as “core” inflation — won’t quell central bankers’ concerns. The Fed can’t ignore CPIAlthough CPI isn’t the inflation gauge the Fed targets, central bankers don’t write it off. It was, however, welcome news to Fed officials that Consumer Price Index-measured inflation fell to 3.4% in April from 3.5% in March.

Persons: Frank Robinson, “, they’re, Jerome Powell, ” Powell, Ben Bernanke, they’ll, John Williams, hasn’t, ”, Tom Barkin, don’t, Christopher Waller Organizations: New, New York CNN —, Federal, Fed, New York Fed, ” New York Fed, ” Richmond Fed, CPI Locations: New York

☆ Singapore is set to lead the gold market as 'center of gravity' shifts east, World Gold Council says
▼ + stars: | 2024-06-11 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: 1 min

SINGAPORE — Singapore is set to become a leading gold hub as trading shifts east, according to the World Gold Council. Singapore's proximity to these central banks, which are actively snapping up gold, is another factor, he added. "The center of gravity of the gold market has shifted east, with Singapore, fortuitously placed as the potential fulcrum of this new balance," Fan said at the Asia Pacific Precious Metals Conference held in Singapore. China is the world's largest gold consumer, and its central bank is the largest buyer of bullion as the country seeks to boost its gold reserves. Among central banks, the People's Bank of China was the largest buyer of gold in 2023.

Persons: Shaokai Fan, fortuitously, Fan Organizations: World Gold, Asia, Precious Metals Conference, People's Bank of Locations: SINGAPORE — Singapore, Asia, Pacific, Singapore, Singapore . China, People's Bank of China

☆ Countdown to Fed rate decision:Here's what you need to know
▼ + stars: | 2024-06-11 | 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 EmailCountdown to Fed rate decision:Here's what you need to knowJames Bullard, Purdue University's Business School Dean and former St. Louis Fed President, joins 'Squawk on the Street' to discuss why it could be wise to cut sooner but slower, whether the Fed will stick with higher for longer, and if the Federal Reserve is keying in on rival central banks.

Persons: James Bullard, Purdue University's Business School Dean, Louis Organizations: Purdue University's Business School, Louis Fed, Federal

☆ Americans tired of sky-high borrowing costs will be disappointed this week
▼ + stars: | 2024-06-10 | by ( Krystal Hur | ) edition.cnn.com time to read: +7 min

New York CNN —Another month, another hot jobs report that has Wall Street wondering when the Federal Reserve will finally cut interest rates. On the other, it puts long-awaited interest rate cuts from the Federal Reserve on the back burner. Before the Bell: Do you think the Fed could lower its projection for three quarter-point rate cuts this year? Is it concerning that the European Central Bank and Bank of Canada have begun cutting rates before the Fed? A Samsung spokesperson told CNN that, “there is no impact on production and management activities” as a result of the one-day walkout.

Persons: Bell, Nate Thooft, I’m, that’s, Yoonjung Seo, —, Son Woomok, Matt Egan, Lina Khan, Beam, Robinson Organizations: CNN Business, Bell, New York CNN, Federal Reserve, Manulife Investment Management, Reserve, European Central Bank, Bank of Canada, European Central Bank and Bank of Canada, Workers, Samsung Electronics, Nationwide Samsung Electronics Union, CNN, Reuters, Samsung, SK Hynix, Micron Technology, Federal Trade Commission, Southern, Biden, FTC, Politico Locations: New York, South Korea, Miami, United States

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