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Top related persons:
Glen Smith - 4 — - 2 Sonu Varghese - 1 Lindsay Rosner - 1 Ian Lyngen - 1 Peter Tchir - 1 Seema Shah - 1 Morgan Stanley - 1
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U.S White Wells Fargo Fastenal Wells
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Federal - 3 Federal Reserve - 3 GDS Wealth Management - 3 Dow Jones Industrial - 2 Nasdaq - 2 Service - 2 Stock - 1 Carson Group - 1

Search resuls for: "Glen Smith"


4 mentions found


☆ Interpreting the jobs data: No more half-point rate cuts
  + stars: | 2024-10-04 | by ( Fred Imbert | Kavitha Shastry | ) www.cnbc.com   time to read: +2 min
The U.S. economy added a whopping 254,000 jobs in September, nearly 100,000 more than economists expected. The unemployment rate, which was expected to hold steady at 4.2%, slipped to 4.1%. Wages also rose more than expected month over month. To be sure, the new data also has traders pricing a smaller quarter percentage point interest rate reduction at the central bank's November meeting. "Fed cuts should be slower and I continue to think (and the data supports it) that the current neutral rate is well above 3% (economy chugging along on 5% yields for over a year)," said Tchir.
Persons: Sonu Varghese, Glen Smith, Lindsay Rosner, Ian Lyngen, Peter Tchir Organizations: Stock, Dow Jones Industrial, Nasdaq, Federal, Carson Group, GDS Wealth, Goldman Sachs Asset Management, BMO Capital Markets, Academy Securities Locations: U.S
☆ The September jobs report dashed hopes for another jumbo rate cut next month
  + stars: | 2024-10-04 | by ( Filip De Mott | ) www.businessinsider.com   time to read: +3 min
AdvertisementThe September jobs report offered good news all around — except to those expecting a second straight jumbo 50-basis-point rate cut from the Federal Reserve next month. In addition, the unemployment rate unexpectedly fell to 4.1%, bucking estimates that it would stay unchanged at 4.2%. Analysts agree that September's blowout job numbers make an aggressive interest rate cut harder to justify. Advertisement"Did the Fed even need to cut rates in September, let alone cut by 50 basis points?" Late last month, the bank predicted that investors would take on more risk if the unemployment rate hit 4.1% and if payrolls reached above 150,000.
Persons: —, Seema Shah, Glen Smith, Morgan Stanley, payrolls, Smith Organizations: Service, Federal Reserve, Asset Management, GDS Wealth Management, Federal
☆ The jobs market had a very strong September
  + stars: | 2024-10-04 | by ( Madison Hoff | ) www.businessinsider.com   time to read: +3 min
The Fed is pivoting away from fighting inflation to supporting the labor market. The encouraging numbers doubled down on a labor market that's showing signs of strength after a slowdown. The Federal Reserve signaled a pivot from fighting inflation to supporting the job market with a 50-basis-point interest rate cut in mid-September, the first cut in four years. AdvertisementWage growth was another highlight for the labor market in September. The latest jobs report didn't just indicate a strong September.
Persons: —, Glen Smith Organizations: Service, Federal Reserve, BLS, GDS Wealth Management, Fed
☆ Stock market next week: Investors wonder what's to come after tumultuous October start
  + stars: | 2024-10-04 | by ( Alex Harring | ) www.cnbc.com   time to read: +4 min
Stocks struggled this week as rising tensions in the Middle East set off the strongest rally in oil prices since March 2023. "The stock market has been living up to October's reputation of increased volatility," said Glen Smith, chief investment officer at GDS Wealth Management. Inflation report, Fed minutes on deck In the week ahead, investors will keep an eye on a couple of potential catalysts. On Wednesday, investors will parse minutes from September's central bank gathering for insights into the future path of monetary policy. "I would say the inflation report is probably less important than it used to be," Dickson said.
Persons: Stocks, Glen Smith, Said, Mike Dickson, Chris Zaccarelli, Zaccarelli, Investment's Dickson, It's, Dickson, Wells, John Williams, JPMorgan Chase Organizations: Dow Jones Industrial, Nasdaq, Federal Reserve, GDS Wealth Management, Federal, Horizon Investments, CNBC Pro, Independent, Alliance, PepsiCo, Delta, JPMorgan Chase, PepsiCO, New York Fed, PPI, University of Michigan, BlackRock, Bank of NY Mellon, JPMorgan Locations: White, Wells Fargo, Fastenal, Wells
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