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☆ The big change that could come for the economy in September
▼ + stars: | 2024-07-12 | by ( Krystal Hur | ) edition.cnn.com time to read: +5 min

Wall Street’s expectations for a September rate cut rose to roughly 93% on Thursday from 73% the day before, according to the CME FedWatch Tool. “A September rate cut should be a done deal at this point,” wrote Ron Temple, chief market strategist at Lazard, in a Thursday note. Some economists worry that if the Fed doesn’t cut rates by then, cracks could begin to deepen in the labor market. A September rate cut “may not be the magic elixir some investors are seeking,” wrote Brent Schutte, chief investment officer at Northwestern Mutual Wealth Management, in a Monday note. On an annual basis, consumer prices are increasing at their slowest pace since June 2023, matching the lowest annual rate since early 2021.

Persons: ”, Ron Temple, Jerome Powell didn’t, Brent Schutte, Alicia Wallace, —, Elisabeth Buchwald, McDonald’s, Read Organizations: CNN Business, Bell, New York CNN, Federal Reserve, Lazard, Northwestern Mutual Wealth Management, Bureau of Labor Statistics ’, Taco Bell Locations: New York, Burger

☆ Buying the dip on a cheap stock? Don't do it 'just because the price has gone down,' says investing chief
▼ + stars: | 2024-07-12 | by ( Ryan Ermey | ) www.cnbc.com time to read: +6 min

"Buying because the stock price has gone down without knowing some of the underlying issues or without understanding some of the underlying activities, could be problematic," says Clark Bellin, president and chief investment officer at Bellwether Wealth. After all, a stock could take major losses and then soar to new heights à la Apple. But what about that same markdown in the price of that company's stock? You'll just have to figure some things out before you buy, says Sam Stovall, chief investment strategist at CFRA. Rather than scrambling to do research, he says, keep a watchlist of stocks you'd be interested in buying at the right price.

Persons: Clark Bellin, Sam Stovall, Bellin, Charles Rotblut, Stovall, It's, Raife Giovinazzo, Giovinazzo Organizations: Blockbuster, Nike, American Association of, Fuller, Thaler Asset Management, Nasdaq, Yahoo Finance, CNBC

☆ American Century's Rich Weiss says Fed could cut twice this year, urges investors to stay diversified
▼ + stars: | 2024-07-12 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Rich Weiss wouldn't be surprised if the Federal Reserve cuts rates twice this year — and potentially before the November election. The comments from Weiss come as Wall Street continues to weigh whether the Federal Reserve will cut rates before year-end. But Weiss urges investors to diversify in this concentrated market. Although a riskier bet, Weiss is also finding opportunities in the real estate sector, which he expects should recover as rates fall. Bonds also look attractive should yields continue to come down, and could outperform stocks through the end of 2024, he added.

Persons: Rich Weiss wouldn't, CNBC's Dominic Chu, Weiss, that's, Bonds Organizations: Federal Reserve, Century Investments, American

☆ These are top global stock picks for the second half, according to UBS
▼ + stars: | 2024-07-12 | by ( Sean Conlon | ) www.cnbc.com time to read: +3 min

The outlook for stocks is becoming more favorable as inflation slows and the Federal Reserve looks to cut interest rates by yearend, according to UBS. Against that backdrop, UBS thinks investors should maintain a neutral view and remain strategic in their stock allocations. Here are some of the stocks on the UBS list: One of the stocks added to the list was San Diego-based, medical device maker Dexcom . Despite growth in the continuous glucose monitoring (CGM) segment of the diabetes market over the past few years, the sizable diabetes market has a "relatively low" penetration rate, according to UBS. "We expect DXCM to remain a leading player within the very concentrated CGM market."

Persons: Eric Potoker, that's, Ralph Lauren Organizations: Federal, yearend, UBS, San, MGM Resorts, Super, Las Vegas, Samsung Locations: Swiss, San Diego, Las Vegas, Las

☆ Unexpected bad news for inflation: Wholesale prices rose in June
▼ + stars: | 2024-07-12 | by ( Alicia Wallace | ) edition.cnn.com time to read: +2 min

CNN —Wholesale price inflation unexpectedly accelerated in June to its highest rate since March 2023. That’s an unwelcome development for the US economy one day after the government announced that consumer prices declined on a monthly basis for the first time in four years. On a monthly basis, prices rose 0.2% after holding flat in May. Economists had expected that prices would increase 0.1% on a monthly basis and hold steady at 2.2% annually. Prices dropped on a monthly basis for the first time since May 2020, and annual inflation slowed to 3%, its slowest rate since June 2023.

Persons: That’s, Price, ” Clark Bellin, Bellin Organizations: CNN —, of Labor Statistics, PPI, Federal Reserve

☆ $20 billion Balyasny trims its top Asia stock-picker's book so she can focus on building the hedge fund in the region
▼ + stars: | 2024-07-11 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +3 min

Read previewBalyasny Asset Management has cut back the portfolio of its Asia equities head, but not because of poor performance. This story is available exclusively to Business Insider subscribers. Related storiesBalyasny, the $20 billion multistrategy firm based in Chicago, parted ways with its global equities head, Jeff Runnfeldt, last October. AdvertisementBalyasny, the founder, has been running the equities unit since Runnfeldt's departure, adding talent — such as Point72's Peter Goodwin — and reviewing existing books. The firm has made 5.5% through the first half of the year, Business Insider recently reported, trailing peers like Citadel, Point72, and Millennium.

Persons: —, Archana Parekh, Dmitry Balyasny, Parekh, Jeff Runnfeldt, Runnfeldt, Peter Goodwin —, Andrew O'Connor, Weiss, David Lohman, Marco Minoli, Anil Gondi, Balyasny, Stephen Schurr, She's, Will Brant, Robert Tau Organizations: Service, Management, Balyasny, Business, Fortress Investment, Citadel, Walleye, Bloomberg Locations: Asia, Chicago, Schonfeld, LMR, — Singapore, Hong Kong, Tokyo, Balyasny's Hong Kong, Point72

REUTERS/Tom Bateman/File Photo Purchase Licensing Rights New Tab , opens new tabJuly 10 (Reuters) - Costco Wholesale (COST.O) New Tab , opens new tab said on Wednesday it would hike annual membership fees for the first time in seven years for its U.S. and Canada customers, effective Sept. 1. Costco said the maximum annual 2% reward associated with executive membership will also increase to $1,250 from $1,000. "The market has been expecting (discussion of) a membership fee hike for a couple years ... management historically tends to raise membership rates every 5 to 6 years," said Michael Ashley Schulman, chief investment officer at Running Point Capital Advisors. For fiscal 2023, membership fee revenue accounted for 1.9% of the company's total revenue. New Tab , opens new tabSave Share XFacebookLinkedinEmailLink Purchase Licensing Rights

Persons: Tom Bateman, Costco, Michael Ashley Schulman, Schulman, Granth, Mohammed Safi Shamsi Organizations: Costco, REUTERS, Costco Wholesale, Running, Capital Advisors, Thomson Locations: Meiwa, Gunma Prefecture, Japan, Canada, Bengaluru

☆ Temasek CIO: U.S. continues to be the largest beneficiary of our capital
▼ + stars: | 2024-07-10 | 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 EmailTemasek CIO: U.S. continues to be the largest beneficiary of our capitalRohit Sipahimalani, chief investment officer of Temasek, says artificial intelligence is an "important theme."

Persons: Rohit Sipahimalani Organizations: Temasek, U.S

☆ Key inflation report looms on Thursday as traders grow more confident in Fed rate cut
▼ + stars: | 2024-07-10 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

The consumer price index, or CPI, report for June is due out at 8:30 a.m. A widely anticipated inflation report on Thursday may solidify expectations for the Federal Reserve to cut interest rates in coming months. The price changes in the components that make up the CPI index will also be a focus on Thursday, especially if the number comes in different from expectations. Both shelter and medical services are also key parts of the personal consumption expenditures index, the Fed's preferred inflation measure, rather than CPI. "We've seen medical services [be] pretty tame, and that's important because medical services makes up a much bigger portion of the PCE, which is the more important of the two inflation prints," Roth said.

Persons: Jerome Powell, Powell, Dow Jones, Matt Brenner, Brenner, Tony Roth, We've, Roth Organizations: Federal Reserve, CPI, Wilmington Trust, PCE Locations: Wilmington

☆ The Fed may soon cut interest rates. That could make your next trip abroad more expensive
▼ + stars: | 2024-07-10 | by ( Greg Iacurci | ) www.cnbc.com time to read: +4 min

SeongJoon Cho/Bloomberg via Getty ImagesThe U.S. Federal Reserve may start cutting interest rates before year's end. How interest rates impact the U.S. dollarIn reality, the dynamics driving dollar fluctuations are more complex than whether the Fed raises or lowers interest rates. The European Central Bank cut interest rates in June, for example. This is happening against the backdrop of a relatively strong U.S. economy, which also generally supports a strong dollar, Petersen said. For example, investors generally get a better return on cash when interest rates are high.

Persons: SeongJoon Cho, Jonathan Petersen, Petersen, " Petersen, that's, Richard Madigan, Benjamin Atwater, Atwater, Morgan's Madigan, Jerome Powell, Bonnie Cash Organizations: Bloomberg, Getty, . Federal, U.S ., Capital Economics, U.S, Morgan Private Bank, European Central Bank, Fed, Bank of Japan, U.S . Federal, Banking, Housing, Urban Affairs, ECB Locations: Japan, Asia, Denver, Europe, U.S

☆ Ethereum ETF countdown: Bitwise CIO sees 'birth of a new asset class'
▼ + stars: | 2024-07-10 | by ( Ellie Stevens | ) www.cnbc.com time to read: +1 min

Spot ether ETFs could hit the market as soon as this week, pending U.S. Securities and Exchange Commission approval, and Bitwise Asset Management's Matthew Hougan plans to get in on the action. Hougan's firm is applying for spot ether ETFs. Hougan is referring to the first spot bitcoin ETFs that launched in January. Spot bitcoin ETFs have attracted about $15 billion since their launch and currently hold two of the top ETF inflows this year, according to FactSet. Hougan views bitcoin's recent success as unprecedented and sees it as a bullish indicator for spot ether ETFs.

Persons: Matthew Hougan, CNBC's, Hougan Organizations: U.S . Securities, Exchange Commission

☆ Bill Gross says Tesla is the new meme stock
▼ + stars: | 2024-07-10 | by ( Yun Li | ) www.cnbc.com time to read: 1 min

Bill Gross' Janus Henderson Global Unconstrained Bond Fund suffered more than $200 million in redemptions last month, lowering assets to $1.25 billion from over $2.24 billion in February. Longtime investor Bill Gross believes Elon Musk's Tesla is behaving like a speculative play among retail investors. "Tesla acting like a meme stock — sagging fundamentals, straight up price action," the former chief investment officer and co-founder of Pimco said in a post on X Tuesday afternoon. "But then there seems to be a new meme stock every other day now. Tesla is on a stunning 10-day winning streak, up a whopping 43.6% since June 24.

Persons: Bill Gross, Janus Henderson, Elon Musk's Tesla, Tesla, Pimco, Tesla's Organizations: Bond Locations: redemptions

☆ What a Trump presidency could mean for the dollar and the stock market
▼ + stars: | 2024-07-09 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

There are other reasons the dollar has been propelled higher as some European and Asian currencies have seen lackluster growth. A strong dollar makes US exports more expensive and reduces the profits of American companies operating overseas when earnings are converted back to dollars. And while a strong dollar lowers the cost of imported raw materials, it can boost inflation and hurt foreign investments. The families of victims of two fatal crashes of the 737 Max oppose the deal, the department said. Beyond the fatal crashes of the 737 Max jets, the company has faced a series of questions about the safety and quality of its planes.

Persons: it’s, Donald Trump, Joe Biden, Trump, ”, Lisa Shalett, Morgan Stanley, Louis Navellier, Jeanne Sahadi, Read, Max, Chris Isidore Organizations: CNN Business, Bell, New York CNN, Federal Reserve, Fed, Republican, Morgan Stanley Wealth Management, Navellier, Associates, New York Federal Reserve, Boeing, Justice Department, Alaska Airlines Locations: New York, ”, China, Japan, United States

☆ Singapore state investor Temasek to focus on early adopters of AI in the U.S.; cautious on China
▼ + stars: | 2024-07-09 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +2 min

Singapore's Temasek said Tuesday most of its investment capital will keep going into the U.S. with the state investment company focusing on the early adopters of AI among traditional industries in the country. Temasek, which did not give an exact breakdown of its exposure to U.S. assets, said Americas region constituted 22% of its portfolio. The firm, whose portfolio value rose by nearly 2% to $389 billion Singapore dollars ($288 billion) in its financial year ended March, added that it was cautious on the Chinese market. Overall, Temasek will maintain a cautious approach and will continue to monitor government policies in the world's second largest economy, the state investor said. Chinese assets made up 19% of Temasek's portfolio, down from 22% in the 2023 financial year.

Persons: Rohit Sipahimalani, Chia, Hwee Organizations: Singapore's Temasek, CNBC, Temasek, Singapore, Companies Locations: U.S, Americas, China

☆ Temasek has been 'steadily increasing' its exposure in India, CIO says
▼ + stars: | 2024-07-09 | 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 EmailTemasek has been 'steadily increasing' its exposure in India, CIO says"We continue to see opportunities around financial services, consumer, healthcare, the startup ecosystem and logistics – so across a broad variety of areas," said Rohit Sipahimalani, chief investment officer at Temasek.

Persons: Rohit Sipahimalani Organizations: Temasek Locations: India, Temasek

☆ Gibbs: Markets need a correction but not necessarily one worth 20%
▼ + stars: | 2024-07-09 | 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 EmailGibbs: Markets need a correction but not necessarily one worth 20%Erin Gibbs, Chief Investment Officer at Main Street Asset Management, discusses a potential market correction and where she's allocating capital.

Persons: Erin Gibbs Organizations: Gibbs, Asset Management

☆ Trump election odds affecting markets correction
▼ + stars: | 2024-07-08 | by ( ) www.cnbc.com time to read: 1 min

Mark Malek is chief investment officer at Siebert AdvisorNXT. An earlier version misstated the name of the firm.

Persons: Mark Malek, Siebert AdvisorNXT

☆ Greene: Don't panic if companies miss on earnings and guidance this quarter
▼ + stars: | 2024-07-08 | 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 EmailGreene: Don't panic if companies miss on earnings and guidance this quarterVictoria Greene, Founding Partner and Chief Investment Officer at G Squared Private Wealth, discusses the new trading week ahead.

Persons: Greene, Victoria Greene Organizations: G Squared, Wealth

☆ Market rally will broaden beyond tech after the summer, says Raymond James' Larry Adam
▼ + stars: | 2024-07-08 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMarket rally will broaden beyond tech after the summer, says Raymond James' Larry AdamLarry Adam, chief investment officer Raymond James, joins CNBC's 'The Exchange' to discuss market outlooks, expectations for the Fed, and more.

Persons: Raymond James, Larry Adam Larry Adam Organizations: Email, Fed

☆ Trump's increasing election odds after debate already affecting financial markets
▼ + stars: | 2024-07-08 | by ( Jeff Cox | ) www.cnbc.com time to read: +5 min

Financial markets are slowly starting to absorb the possibility that what was once a toss-up presidential election campaign has taken a notable turn. That has put investors in a quandary of how to handicap what a Trump presidency would look like from an economic and market standpoint. .SPX mountain 2024-06-28 S & P 500 performance since the debate However, the bond market has had a bit more of a reaction. The first Trump presidency and some of his campaign rhetoric nevertheless has led to guesswork about what could be ahead. "This particularly favors financials and there will be an expectation of more M & A approval in a Trump presidency.

Persons: Joe Biden, Donald Trump, specter, Biden, Trump, Mark Malek, Siebert AdvisorNXT, Handicapping, Michael Hartnett, Hartnett, Ed Mills, Raymond James, Kamala Harris, Harris, Chris Krueger, TD Cowen, Krueger, ABC's George Stephanopoulos, —, Sarah Min Organizations: Republican, Trump, Treasury, Bank of, White, Reading, New York Times, Biden, Democrat Locations: Washington

☆ These types of ETFs could prove winners in the second half
▼ + stars: | 2024-07-08 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +6 min

The best-performing exchange-traded funds in the second half will likely be decided by broader shifts in the markets and economy. Even with mounting uncertainty, however, there are some types of ETFs that could emerge as winners. Equities A handful of stocks were big winners in the first half, and some narrowly focused ETFs were able to ride that wave. Single-stock funds tied to Nvidia have also seen heavy interest, including the GraniteShares 2x Long Nvidia ETF (NVDL) . However, Hougan said he didn't think that omission would be a big hurdle for ETF investors.

Persons: Michael Arone, Arone, Jay Jacobs, Jacobs, Todd Sohn, bullish, we're, Sohn, Matt Hougan, Hougan Organizations: Federal Reserve, U.S, SPDR, State Street Global Advisors, Nvidia, Microsoft, NYSE Technology, iShares, Digital Infrastructure, Real, U.S . Tech, Blackstone Senior Loan, Loan Fund, New, Bitwise Asset Management, ETH Locations: U.S

☆ Media network Group Black faces a leadership in flux
▼ + stars: | 2024-07-06 | by ( Lucia Moses | ) www.businessinsider.com time to read: +4 min

All in all, Group Black said it planned to deploy $500 million in Black-owned media by the end of 2022. Some brands have provided updates on their commitments since, but gains by Black-owned media companies have been uneven overall. Group Black's idea was to help steer ad dollars to its member companies and use some of the ad dollars to buy stakes in media companies. It listed among its founding member companies Essence, which is part of Dennis' company, Sundial Media; podcast company Pod Digital Media; and lifestyle media company She Media. Various outlets also reported that Group Black sought to acquire stakes in media companies including Sports Illustrated publisher Arena Group and Vox Media.

Persons: —, Travis Montaque, Montaque, Montaque hasn't, Kerel Cooper, Dan Bisgeier, Delida Costin, Mike Owen, Ryan Robertson, Marchelle Wright, Ashley Banks, Cooper, Holler, Richelieu Dennis, Bonin, Black, George Floyd, Breonna Taylor, Ursula Burns, Fortune, Seth Kaufman, Moët Hennessy, Dennis Organizations: Service, Business, Black, Xerox, Moët Hennessy North America ., Media, Pod Digital Media, Sports, Arena, Vox Media Locations: Black

☆ Inflation will be in focus in the week ahead as stocks attempt to sustain all-time highs
▼ + stars: | 2024-07-05 | by ( Sarah Min | ) www.cnbc.com time to read: +6 min

Some key inflation readings in the week ahead could bolster the case for a September interest rate cut, as investors deliberate how long stocks can sustain their rally to record highs. After a rocky start to the year, a recently improving inflation picture has investors hopeful the Federal Reserve could soon start to lower rates. Stubborn inflation patches The June consumer price index is expected to show a slight improvement in the headline number. In May, for example, shelter inflation rose 0.4% on the month and 5.4% on the year, while other key items declined. Monday, July 8 3 p.m. Consumer Credit (May) Tuesday, July 9 6 a.m. NFIB Small Business Index (June) Wednesday, July 10 10 a.m. Wholesale Inventories final (May) Thursday, July 11 8:30 a.m. Consumer Price Index (June) 8:30 a.m.

Persons: nonfarm payrolls, Mark Malek, FactSet, there's, Ross Mayfield, Baird, Mayfield, David Kelly, CNBC's, Wells, Price, JPMorgan Chase Organizations: Reserve, Dow Jones, Nasdaq, CPI, PPI, FactSet, University of Michigan, Asset Management, Citigroup, JPMorgan Chase, PepsiCo, Delta Air Lines, Consumer Credit, Treasury Budget, Air Lines, Conagra, JPMorgan, Bank of New York Mellon Locations: U.S, Wells Fargo, Michigan, Fastenal

☆ Investors look to upcoming earnings to keep stock rally going
▼ + stars: | 2024-07-05 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

New York CNN —With interest rate cuts on the backburner, Wall Street is looking to corporate earnings to continue powering the 2024 stock market rally. Analysts polled by FactSet expect second-quarter earnings of S&P 500 companies to grow about 8.7% on average from the prior year. Strong corporate earnings have helped the S&P 500 gain a whopping 16% and notch repeated record high closes this year. Since the Fed isn’t likely to cut rates anytime soon, the onus is on strong corporate earnings to continue driving the market rally. Earnings season kicks off July 12 when big banks including JPMorgan Chase, Wells Fargo and Citigroup report results.

Persons: FactSet, Jerome Powell, ”, Jeffrey Buchbinder, Wells, Dow, Lisa Shalett, Jessie Yeung, Hanako Montgomery, Junko Ogura, “, Tadashi Matsubara, ” Read, Laura He, Pan Gongsheng, Read Organizations: CNN Business, Bell, New York CNN, Federal, LPL, JPMorgan Chase, Citigroup, Nvidia, Microsoft, Meta, Dow Jones, Morgan Stanley Wealth Management, Kanpou, “, Beijing Money, Silicon Valley Bank, People’s Bank of China, prudential Locations: New York, Sintra , Portugal, Wells Fargo, Banks, Japan, Nepal, China, Beijing, Silicon, United States, Shanghai

☆ Stocks, property, bonds, the pound: Here’s what a new Labour government means for investing in the UK
▼ + stars: | 2024-07-05 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +7 min

The Labour party's pledge, for example, to increase taxes on the compensation that private equity fund managers received raised a few eyebrows, and led to questions on what this could mean more broadly. In a note Friday, analysts at Jefferies said, despite concerns raised by a strong showing for the right-wing Reform UK Party, the Labour Party's U.K. election win would help make the U.K. appear "relatively stable." "A widely predicted Labour win in the UK could usher in an era of greater stability for the UK … which should help bolster investor sentiment towards the UK," she said. "U.K. bank stocks in the end are one of the biggest proxies for U.K. economic growth," he said. If results are as expected, attention will shift away from the U.K. election quickly, Shreyas Gopal, strategist, and Sanjay Raja, senior economist at Deutsche Bank, said in a note published Wednesday.

Persons: Vuk Valcic, hasn't, Jefferies, James McManus, Susannah Streeter, Hargreaves Lansdown, McManus, Liz Truss, Streeter, Richard Donnell, Nutmeg's McManus, CNBC's Silvia Amaro Friday, Mark Fielding, Fielding, Shreyas Gopal, Sanjay Raja, BoE, Francesco Pesole, Pesole Organizations: City of, Labour Party, Conservatives, U.S ., Labour, CNBC, Stock, Reform UK Party, Hargreaves, Deutsche Bank, ING, Bank of England, ECB Locations: Bishopsgate, City, City of London, London, France

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