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☆ Trump's tariff proposals would mean 'consumers are going to pay more,' says economist—here's why
▼ + stars: | 2024-09-13 | by ( Ryan Ermey | ) www.cnbc.com time to read: +4 min

But as a general rule, economists tend to agree that, for U.S. consumers, higher tariffs tend to mean higher prices. "They'll be buying things at higher prices than they otherwise would." Still, a number of organizations say that Trump's new tariff policy would have a negative tangible effect on American consumers' finances. Plus, financial experts say a more aggressive tariff policy could be viewed as a form of economic saber-rattling. It tends to lead to higher prices for consumers in both countries."

Persons: Trump, Howard Gleckman, Kamala Harris, Biden, Donald Trump, Harris, George Ball, Sanders Morris, Clark Bellin, Sam Millette Organizations: Urban, Brookings Tax Policy Center, CNBC, U.S, Trump, U.S ., American Progress, Peterson Institute for International, Commonwealth Financial Network Locations: China, U.S, —

☆ These global stocks are the most overbought — and could be due for a pullback
▼ + stars: | 2024-04-10 | by ( Weizhen Tan | ) www.cnbc.com time to read: +1 min

Overall, however, markets — including global stocks — are still very much deep in positive territory. The S & P 500 is up around 9.6% year-to-date, and in fact hit new record highs in March . Global stocks outside of the U.S. have also had a nice run, with the FTSE All World Ex US index rising nearly 8% year-to-date. Stocks with a 14-day RSI higher than 70 are likely overbought and may be due for a pullback. These are among the top overbought names in the S & P 500, according to FactSet.

Organizations: Dow Jones, Global, FTSE, U.S, Commonwealth Financial Network, CNBC Pro, Vanguard FTSE Locations: Ukraine

☆ Here's where to invest $1 million right now, according to the pros
▼ + stars: | 2024-03-25 | by ( Weizhen Tan | ) www.cnbc.com time to read: +6 min

If you had a spare $1 million to invest right now, what should you buy? He would allocate roughly 60% into stocks this way: 15% each to U.S. large-cap growth stocks and U.S. large-cap value stocks; 4% to small-caps; and 8% to mid-caps. "We really believe in style diversification and feel that remaining diversified with value and growth stocks remains prudent," Benson said. With a million dollars to invest, it would be "reasonable" for investors to put their money in both small- and mid-cap stocks now, he said. The average amount of money that his clients invest is $1.3 million, and his firm manages over $1.2 billion.

Persons: Aaron Benson, Baird, Benson, Chris Fasciano, Shams Afzal, Afzal, Louis Navellier, they've, Navellier, Li Auto Organizations: U.S . Federal, CNBC Pro, Commonwealth Financial Network, Carnegie Investment, Navellier, Associates, Nvidia, Computer, Micro, Mexico's Vista Energy, Volkswagen, Alamos Locations: U.S, Mexico, India, China

☆ Stock futures are little changed as investors digest news from Nvidia's AI conference: Live updates
▼ + stars: | 2024-03-18 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Stock futures were little changed on Monday after a bounce back in tech shares ahead of Nvidia's inaugural artificial intelligence conference. Heading into Tuesday, Nvidia shares showed signs of cooling as investors shift their focus to the Federal Reserve's two-day policy meeting. Futures tied to the S&P 500 slipped 0.12%, while Dow Jones Industrial Average futures slid 8 points, or 0.02%. AI leader Nvidia pulled back roughly 1% in extended trading, as investors evaluate the news from its first-ever GTC Conference. Wall Street is awaiting guidance on the path forward for monetary policy as the Federal Reserve begins its two-day policy meeting on Tuesday.

Persons: Jensen Huang, Blackwell, iPhones, Sam Millete Organizations: Nvidia, Federal, Dow Jones Industrial, Nasdaq, Conference, Tech, Google, Apple, Bloomberg, stoke, Federal Reserve, Commonwealth Financial Network

☆ 'Nearing exhaustion': Top strategists warn that weaker consumer spending could cause US stocks to run out of steam — but 22 investments can thrive during a market reversal
▼ + stars: | 2024-03-16 | by ( James Faris | ) www.businessinsider.com time to read: +10 min

Eight economists, investment chiefs, and strategists that Business Insider recently spoke to credited healthier-than-anticipated consumer balance sheets and spending for the continued expansion. "Either that, or they're going to be maxed out — they can't get any more money. They're not going to have any liquidity to be able to continue to do the things they're going to do." He's also sticking with defensive stocks as consumer spending softens, including those in the consumer staples sector like Clorox (CLX) and Procter & Gamble (PG). Real estate is a "hated asset class" that's negatively correlated with interest rates, Sekera said.

Persons: shouldn't, Kevin Gordon, Charles Schwab, they're, Sue Crotty, Ed Clissold, Ned Davis, Clark Bellin, Bellin, David Rosenberg, They're, Rob Swanke, Swanke, Preston Caldwell, Morningstar's, Dave Sekera, Sekera, Christopher Barto, Gordon, Clissold, He's, Morningstar's Sekera, Crotty, Segal Marco Advisors, She's, Barto, that's Organizations: Business, Consumers, Segal Marco, Ned, Ned Davis Research, Commonwealth Financial Network, Nasdaq, Morningstar, Fort Pitt Capital Group, Procter, Gamble, Federal Reserve, Exxon, APA Corp, Duke Energy, Segal, Energy, Healthcare Locations: Devon, Real, NiSource

☆ American consumers haven't been this upbeat about the economy since 2021
▼ + stars: | 2024-01-19 | by ( Phil Rosen | ) www.businessinsider.com time to read: +3 min

The University of Michigan's consumer sentiment gauge surged in January to 78.8, the highest since July 2021. Year-ahead inflation expectations softened to 2.9%, hitting the lowest since December 2020. The University of Michigan's consumer sentiment gauge jumped to 78.8 in January, the highest mark since July 2021. "Encouragingly for the Federal Reserve consumer inflation expectations fell in January, with 1-year inflation expectations falling to a 3-year low in January." Long-run inflation expectations eased to 2.8%, below the 2.9%-3.0% range seen for 26 of the last 30 months, the survey noted.

Persons: —, Sam Millette, Sal Naro, headcount Organizations: of, Service, University of, Commonwealth Financial Network, Federal Reserve, University of Michigan, Commerce Department, Downside, Busines

☆ Investing veterans break down their outlook for the year ahead as markets return to pre-2008 conditions
▼ + stars: | 2023-11-18 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

Goldman Sachs said the S&P 500 can climb 8% in 2024 as pre-2008 conditions return. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. The major indexes are up in 2023, with the S&P 500 notching a healthy gain of more than 17% year-to-date. Gene Goldman, chief investment officer at Cetera Investment Management, said he expects about a 10% gain for the S&P 500 in 2024. Meanwhile, Jeff Buchbinder, chief equity strategist for LPL Financial, expects "high single-digit returns" in 2024.

Persons: Goldman Sachs, —, David Russell, Russell, boomers, Millennials, Steve Wyett, Wyett, Mark Hackett, Hackett, Gene Goldman, Brian Price, Jeff Buchbinder, Goldman Organizations: Service, Federal, Fed, BOK Financial, Nationwide, Business, Cetera Investment Management, LPL Financial

☆ Instant view: Cooler October US CPI raises confidence that Fed hikes done
▼ + stars: | 2023-11-14 | by ( ) www.reuters.com time to read: +8 min

Economists polled by Reuters had forecast the CPI gaining 0.1% on the month and increasing 3.3% on a year-on-year basis. The rally was due to rising investor belief that the Federal Reserve will now be less likely to hike interest rates at future meetings. LINDSAY ROSNER, HEAD OF MULTI-SECTOR FIXED INCOME INVESTING, GOLDMAN SACHS ASSET MANAGEMENT, NEW YORK“Today's Core CPI print was below expectations. "The Fed will not want to step back from its hawkish stance yet; the annual core rate at 4% is still some way away from target. THOMAS HAYES, CHAIRMAN AT HEDGE FUND GREAT HILL CAPITAL, NEW YORK"We're happy to see both headline and core CPI come in lower than expected.

Persons: Hannah Beier, ” BEN JEFFERY, GREG BASSUK, ” “, ” BRIAN JACOBSEN, MENOMONEE, we’ll, ” CHRIS ZACCARELLI, LINDSAY ROSNER, GOLDMAN, ” MATTHEW MISKIN, JOHN, “, ” STUART COLE, Kashkari, Powell, PETER ANDERSEN, ANDERSEN, it's, THOMAS HAYES, OLIVER PURSCHE, It’s, ” Organizations: Reading, REUTERS, Federal Reserve, Labor Department's Bureau of Labor Statistics, Reuters, Treasury, Markets, BMO, Reserve, CPI, ALLIANCE, Fed, Global Finance, Thomson Locations: Philadelphia , Pennsylvania, U.S, WALTHAM, MA, WISCONSIN, CHARLOTTE, GOLDMAN SACHS, JOHN HANCOCK, BOSTON, LONDON

☆ Stocks jump, dollar and yields drop after US jobs market softens
▼ + stars: | 2023-11-03 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +4 min

[1/2] Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., October 27, 2023. The job growth slowdown underscored views that the Federal Reserve may be done hiking interest rates. Benchmark 10-year yields fell as low as 4.484%, the lowest since Sept. 26. The U.S. dollar index dropped to a six-week low after the jobs data. In afternoon trading, the dollar index fell 1.111%, with the euro up 1.07% to $1.0734.

Persons: Brendan McDermid, Detroit's, Brad McMillan, Jerome Powell, Caroline Valetkevitch, Harry Robertson, Chibuike, Jacqueline Wong, Miral Fahmy, Alison Williams, Mark Heinrich, Rod Nickel, Diane Craft Organizations: New York Stock Exchange, REUTERS, U.S, Treasury, Federal, United Auto Workers, Commonwealth Financial Network, Bank of England, Traders, U.S . Treasury, Dow Jones, Nasdaq, Apple, Brent, Thomson Locations: New York City, U.S, Waltham , Massachusetts, Central, New York, London

☆ US dollar drops to six-week low after softer-than-expected jobs data
▼ + stars: | 2023-11-03 | by ( Gertrude Chavez-Dreyfuss | ) www.reuters.com time to read: +4 min

[1/4] U.S. one dollar banknotes are seen in front of displayed stock graph in this illustration taken, February 8, 2021. The index was on track for its largest one-day fall since July. The numbers for September were revised lower to show 297,000 jobs created instead of 336,000 as previously reported. Against the yen, the dollar slid 0.6% to 149.53 yen , capping a whirlwind week, in which the Japanese currency touched a one-year low against the dollar and 15-year trough against the euro. Sterling rose 1.1% versus the dollar to $1.2327, after earlier hitting a six-week high of $1.2350.

Persons: Dado Ruvic, Brad McMillan, Kazuo Ueda, Sterling, Jerome Powell, Gertrude Chavez, Dreyfuss, Chibuike Oguh, Alun John, Ankur Banerjee, Christina Fincher, Andrea Ricci Organizations: REUTERS, Sterling, Federal Reserve, Commonwealth Financial Network, Bank of Japan, Reuters, Treasury, U.S . Treasury Department, Thomson Locations: Waltham , Massachusetts, U.S, New York, London, Singapore

☆ Stocks jump, dollar and yields fall after US jobs market softens
▼ + stars: | 2023-11-03 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

[1/2] Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., October 27, 2023. The job growth slowdown underscored views that the Federal Reserve may be done hiking interest rates. The data also showed the increase in annual wages was the smallest in nearly 2-1/2 years, pointing to an easing in labor market conditions. The pan-European STOXX 600 index (.STOXX) rose 0.17% and MSCI's gauge of stocks across the globe (.MIWD00000PUS) gained 1.44%. The U.S. dollar index dropped to a six-week low after the jobs data.

Persons: Brendan McDermid, Detroit's, Brad McMillan, Jerome Powell, Caroline Valetkevitch, Harry Robertson, Chibuike Oguh, Jacqueline Wong, Miral Fahmy, Alison Williams, Mark Heinrich, Rod Nickel Organizations: New York Stock Exchange, REUTERS, U.S, Treasury, Federal, United Auto Workers, Commonwealth Financial Network, Bank of England, U.S . Treasury, Dow Jones, Nasdaq, Apple, Brent, Thomson Locations: New York City, U.S, Waltham , Massachusetts, Central, New York, London

☆ US stocks jump on Goldilocks jobs report to cap biggest weekly rally of the year
▼ + stars: | 2023-11-03 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

US stocks jumped on Friday after a Goldilocks jobs report took pressure off of interest rates. The unemployment rate ticked up to 3.9% from 3.8%, and wage growth slowed. The weekly gain registered by the S&P 500 and Nasdaq 100 represented the largest weekly jump of the year. The unemployment rate ticked higher to 3.9% from 3.8%, and wage growth cooled to its lowest since 2021. Slower growth is still growth, and this jobs report is still in the sweet spot," Brad McMillan, CIO for Commonwealth Financial Network, said.

Persons: —, Brad McMillan Organizations: Service, Federal, Nasdaq, Big Three, Treasury, Commonwealth Financial Network, Dow Jones

REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsSummaryCompanies Wells Fargo gains as Q3 profit risesJPMorgan Q3 profit rises on interest income boostBlackRock reports Q3 profit growthUnitedHealth gains on Q3 profit beatFutures: Dow flat, S&P down 0.18%, Nasdaq down 0.43%Oct 13 (Reuters) - Futures tracking Wall Street's main indexes fell on Friday as investors assessed earnings from big U.S. banks, while Treasury yields eased following a spike in the previous session. JPMorgan Chase(JPM.N), the biggest U.S. bank, posted a jump in third-quarter profit as higher interest rates boosted its income from loans. BlackRock (BLK.N) reported a 13% rise in third-quarter profit on a rebound in markets. UnitedHealth (UNH.N) advanced 2.5% after beating third-quarter profit estimates, helped by lower-than-expected medical costs for the healthcare conglomerate. Traders put the chance of interest rates remaining unchanged in November and December at around 92% and around 69%, respectively, according to CME's FedWatch tool.

Persons: Brendan McDermid, JPMorgan Chase, Wells Fargo, Rob Swanke, Patrick Harker, Susan Collins, Todd Vasos, Jeffery Owen, Shashwat Chauhan, Ankika Biswas, Saumyadeb Organizations: New York Stock Exchange, REUTERS, Companies Wells, JPMorgan, BlackRock, Dow, Nasdaq, U.S, Citigroup, Commonwealth Financial Network, Fed Bank of Philadelphia, Federal Reserve Bank of Boston, Traders, University of Michigan's, Dow e, Investors, Hamas, Exxon Mobil, Chevron, Callon Petroleum, Occidental Petroleum, Dollar, Boeing, Thomson Locations: New York City, U.S, BLK.N, Israel, Gaza City, Bengaluru

☆ Futures edge lower ahead of big bank earnings
▼ + stars: | 2023-10-13 | by ( ) www.reuters.com time to read: +3 min

SummaryCompanies Futures down: Dow 0.02%, S&P 0.11%, Nasdaq 0.25%Oct 13 (Reuters) - Futures tracking Wall Street's main stock indexes edged lower on Friday as investors looked ahead to earnings reports from big U.S. banks, while Treasury yields eased after a spike in the previous session. JPMorgan Chase (JPM.N), Wells Fargo (WFC.N) and Citigroup (C.N) are scheduled to report quarterly numbers before the opening bell. Asset manager BlackRock (BLK.N), health insurer UnitedHealth Group (UNH.N) and regional lender PNC Financial (PNC.N) are also slated to report earnings. Remarks from Fed Bank of Philadelphia President Patrick Harker, a voting member on the rate-setting Federal Open Market Committee (FOMC) this year, would also be on investors' radar during the day. On the data front, a preliminary estimate of the University of Michigan's October Consumer Sentiment Index is due at 10 a.m.

Persons: JPMorgan Chase, Rob Swanke, Patrick Harker, Susan Collins, Todd Vasos, Jeffery Owen, Shashwat Chauhan, Saumyadeb Organizations: Dow, Nasdaq, JPMorgan, Citigroup, BlackRock, UnitedHealth, PNC Financial, Commonwealth Financial Network, Fed Bank of New, Fed Bank of Philadelphia, Market, Federal Reserve Bank of Boston, Traders, Treasury, University of Michigan's, Dow e, Hamas, Thomson Locations: Wells Fargo, Fed Bank of New York, U.S, Israel, Gaza City, Bengaluru

☆ The latest data signals the Fed will pause next week and keep future rate hikes on the table
▼ + stars: | 2023-09-15 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

That data indicates that the Federal Reserve is still likely to hold rates steady next week, some investors say. Inflation: US inflation climbed 3.7% in August from the prior year, marking an acceleration for the second consecutive month, according to the latest Consumer Price Index. Excluding the boost from gas station sales, retail spending added 0.2% in August from July. Traders see a roughly 97% chance that the central bank keeps rates unchanged in September, according to the CME FedWatch Tool. The central bank has now raised its main interest rate at 10 consecutive meetings, taking it to the highest level since the launch of the euro currency in 1999.

Persons: “, ”, Sam Millette, Price, Taylor Swift, Bill Adams, Jerome Powell, Liz Young, CNN’s Olesya, Michelle Toh ., Read Organizations: CNN Business, Bell, CNN, Federal Reserve, Commonwealth Financial Network, National Federation of Independent Business, Comerica Bank, Traders, European Central Bank, Central Bank, ECB, Cornell University, Schroders, Fashion, Cornell’s Global Labor Institute Locations: Saudi Arabia, Russia, Jackson Hole , Wyoming, Bangladesh, Pakistan, Vietnam, Cambodia, Schroders

☆ CNBC Daily Open: Employers are holding on to workers — and it’s costing them
▼ + stars: | 2023-09-08 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +3 min

CFOTO | Future Publishing | Getty ImagesThis report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Initial jobless claims fell last week to a seasonally adjusted 216,000, according to a report by the U.S. Labor Department. In other words, the labor market still looks tight because employers are laying off fewer people and paying them more. There's now a 39.9% chance rates will go up 25 basis points then, according to the CME FedWatch tool.

Persons: There's, Brad McMillan, McMillan, Jeff Cox Organizations: AMD, Apple, CNBC, U.S . Labor Department, Federal, Nvidia, Devices, Seagate, Nasdaq, Dow Jones Industrial, Intel's, Commonwealth Financial Locations: Shanghai, China, U.S

☆ Stock futures are little changed as traders weigh risk of rate hikes: Live updates
▼ + stars: | 2023-09-07 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

Stock futures were little changed Thursday evening. Dow Jones Industrial Average futures added 23 points, or 0.07%. Futures tied to the S&P 500 and Nasdaq 100 futures hovered near the flat line. The S&P 500 lost 0.3%, falling a third day. Renewed fears over more rate hikes from the Federal Reserve were further justified as initial jobless claims came in at 216,000 — lower than the 230,000 anticipated by economists polled by Dow Jones.

Persons: RH, Dow, Dow Jones, Brad McMillan Organizations: Dow Jones Industrial, Nasdaq, Federal Reserve, Investors, Fed, Commonwealth Financial Network, Dow

☆ Stock futures inch higher to kick off the final trading week of a rocky August: Live updates
▼ + stars: | 2023-08-27 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Stock futures rose slightly to kick off the final trading week of August. Futures tied to the Dow Jones Industrial Average rose 50 points, or about 0.15%, while S&P 500 futures and Nasdaq-100 futures added 0.14% and 0.7%, respectively. The Dow Jones Industrial Average gained 247.48 points, or 0.7%, on Friday, but finished the week 0.45% lower. Both the broad-based and tech-heavy index notched their first winning week in four, adding about 0.8% and 2.3%, respectively. The final trading week of August kicks off Monday, with all the major indices on track to finish the month with losses.

Persons: Stocks, Jerome Powell, Powell, Brian Price Organizations: New York Stock Exchange, Dow Jones, Nasdaq, Federal, Dow Jones Industrial, Investment Management, Commonwealth Financial Network, Dow, Dallas Fed Locations: Jackson Hole , Wyoming

☆ What this week's U.S. credit rating downgrade means for your money
▼ + stars: | 2023-08-03 | by ( Ryan Ermey | ) www.cnbc.com time to read: +4 min

Markets hit the skids on Wednesday after Fitch Ratings downgraded its rating on U.S. debt to AA+ on Tuesday evening — one notch below the agency's highest rating of AAA. "The repeated debt-limit political standoffs and last-minute resolutions have eroded confidence in fiscal management," the rating firm said in a press release. In historical context, though, this week's downgrade is less of a big deal than it seems, experts say. the rating agency dinged Uncle Sam's once perfect credit rating. "In some ways, the S&P downgrade echoes the current downgrade from Fitch," Sam Millette, fixed income strategist for the Commonwealth Financial Network, wrote in a recent note.

Persons: Fitch, Ryan Detrick, — Fitch, —, Bonds, Uncle Sam's, Jon Maier, hasn't, Sam Millette, Maier Organizations: Fitch, AAA, Nasdaq, Dow, Carson Group, Moody's, Global, Commonwealth Financial Network Locations: Washington, creditworthiness, Fitch

Recent inflation data points to a strong economy that could propel the S & P 500 to break the 5,000-point threshold by the end of 2023, according to Peter Essele, head of portfolio management for Commonwealth Financial Network. June data for two closely watched inflation gauges released this week, the consumer price index and producer price index , showed costs easing across the board. That signals to Essele the S & P 500 can keep charging upward, with his prediction of the 5,000 level being reached implying the S & P 500 will gain another 11.8% from Wednesday's close. The S & P 500 has already had a stellar year, rising 17%. We could easily see the S & P 500 top 5,000 by the end of the year."

Persons: Peter Essele, Essele, Sam Stovall, — CNBC's Michael Bloom Organizations: Commonwealth Financial Network, CPI, PPI, CNBC Locations: Wednesday's

Private payrolls surged far more than expected in June, data showed, suggesting the labor market remained solid despite growing risks of a recession. “We don’t see any softening in the labor market,” said Brad McMillan, chief investment officer for Commonwealth Financial Network. All 11 S&P 500 sectors ended down. U.S. interest rate futures saw an increased probability of another rate hike by the Federal Reserve in November, according to CME's FedWatch. Second-quarter corporate reports will arrive in coming weeks with S&P 500 earnings expected to fall 5.7% from a year-ago, according to Refinitiv data.

Persons: payrolls, ”, Brad McMillan, CME's, Lorie Logan, Lip, judge's, Lewis Krauskopf, Bansari Mayur Kamdar, Johann M, Vinay Dwivedi, Shinjini Ganguli, David Gregorio Our Organizations: Energy, Exxon, Dow, Nasdaq, Reserve, Commonwealth Financial Network, Dow Jones, Microsoft, Apple, Treasury, Federal Reserve, Fed, Dallas, Exxon Mobil Corp, Wealth Management, JetBlue Airways, American Airlines, Spirit Airlines, NYSE, Thomson Locations: U.S, New York, Bengaluru

Private payrolls surged far more than expected in June, data showed, suggesting the labor market remained on solid ground despite growing risks of a recession. “We don’t see any softening in the labor market,” said Brad McMillan, chief investment officer for Commonwealth Financial Network. Treasury yields jumped following the labor market data. The benchmark 10-year yield burst above 4% while the two-year Treasury yield, which typically moves in step with interest rate expectations, hit a 16-year high. U.S. interest rate futures saw an increased probability of another rate hike by the Federal Reserve in November, according to CME's FedWatch.

Persons: payrolls, ”, Brad McMillan, CME's, Lorie Logan, Lip, judge's, Lewis Krauskopf, Bansari Mayur Kamdar, Johann M, Vinay Dwivedi, Shinjini Ganguli, David Gregorio Our Organizations: Energy, Exxon, Reserve, Commonwealth Financial Network, Nasdaq, Dow Jones, Treasury, Federal Reserve, Fed, Dallas, Exxon Mobil Corp, Wealth Management, JetBlue Airways, American Airlines, Spirit Airlines, Thomson Locations: U.S, New York, Bengaluru

Powell's comments did little to sway investors in futures markets tied to the Fed’s policy rate, which on Wednesday reflected bets for only one additional rate increase this year, followed by cuts in January. An inverted yield curve occurs when yields on shorter-dated Treasuries rise above those for longer-term ones. It suggests that while investors expect interest rates to rise in the near term, they believe higher borrowing costs will eventually hurt the economy, forcing the Fed to later ease monetary policy. "With a steeply inverted curve we see a lot of yield and a lot of attractive opportunities in the front end," said Steve Hooker, portfolio manager of Newfleet Asset Management. Greg Peters, co-chief investment officer of PGIM Fixed Income, said inflation remained way too high to anticipate rate cuts any time soon.

Persons: Jerome Powell hasn't, Powell, Powell's, Roger Hallam, Steve Hooker, ” Hooker, Greg Peters, We're, Davide Barbuscia, Ira Iosebashvili, Leslie Adler Organizations: YORK, Federal, Fed, Vanguard, Silicon Valley Bank, Commonwealth Financial Network, Newfleet Asset Management, Thomson Locations: Silicon, U.S

☆ Investors relieved after US House votes to suspend debt ceiling
▼ + stars: | 2023-06-01 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

Asian markets were trading higher when the bill cleared the house and held their gains. Treasury yields rose marginally. The bill would suspend the federal government's borrowing limit until 2025, allowing the Treasury to sell debt to pay its obligations. Two-year Treasury yields rose 2.7 basis points to 4.417%, while currency markets were broadly steady. Debt ceiling concerns periodically weighed on stock markets over the last week, although most investors expected an 11th-hour agreement.

Persons: Brendan McDermid, Joe Biden's, Ray Attrill, Biden, Brad McMillan, Jarrod Kerr, Caroline Valetkevitch, Kevin Buckland, Rae Wee, Ira Iosebashvili, David Gregorio, Lincoln Organizations: New York Stock Exchange, REUTERS, Investors, U.S . House, Senate, Republican, National Australia Bank, Treasury, White, Commonwealth Financial Network, Thomson Locations: New York City, U.S, Tokyo, Singapore

☆ Investors relieved after US House votes to suspend debt ceiling; focus turns to Senate
▼ + stars: | 2023-05-31 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

Persons: Joe Biden's, Ray Attrill, Biden, Brad McMillan, Jarrod Kerr, Caroline Valetkevitch, Kevin Buckland, Rae Wee, Ira Iosebashvili, David Gregorio, Lincoln Organizations: Investors, U.S . House, Senate, Republican, National Australia Bank, Treasury, White, Commonwealth Financial Network, Thomson Locations: U.S, Tokyo, Singapore

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