DIRS.INFO The most relevant business & tech news

☆ Here's 3 reasons why Wall Street giants say investors should pay attention to Treasurys as yields soar
▼ + stars: | 2023-10-28 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +5 min

The 10-year Treasury yield topped 5% for the first time since 2007 this week. The gap between higher dividend yield stocks and the 10-year US Treasury yield has completely closed. Bond yields probably aren't falling soonTreasury yields are likely staying elevated, thanks to the Fed's committement to keeping a lid on inflation. Central bankers have raised rates 525 basis-points over the past year to lower high prices, which has helped pushed Treasury yields higher. Other market forecasters have warned of more trouble ahead in equities, especially as higher bond yields draw investors away from the stock market.

Persons: —, Goldman Sachs, there's, they've Organizations: Treasury, Service, Bank of America, Goldman, Goldman Sachs Global Investment Research, Vanguard

☆ The S&P 500 will rocket 18% by year-end as the economy stays strong and the Fed ends interest rate hikes, Oppenheimer investment chief says
▼ + stars: | 2023-10-27 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

The S&P 500 could soar another 18% by year-end, according to Oppenheimer. In an interview with CNBC on Thursday, Stoltzfus reiterated his S&P 500 price target of 4,900 by the end of the year. Of the 17% of S&P 500 companies that reported third-quarter earnings last week, 73% have beaten analysts' estimates, according to FactSet data. That could be bullish for stocks, considering that rate hikes weighed the S&P 500 down heavily in 2022. In 2022, he predicted the S&P 500 would surge to 5,330, but then slashed that target several times as the year went on.

Persons: Oppenheimer, That's, —, John Stoltzfus, Stoltzfus, You've, that's Organizations: Service, Federal, CNBC, Fed, Treasury

☆ The Bond Market, a Sleeping Giant, Awakes
▼ + stars: | 2023-10-27 | by ( Jeff Sommer | More About Jeff Sommer | ) www.nytimes.com time to read: +1 min

The bond market is stirring. After years of low interest rates, yields throughout the vast global bond market are soaring. And in the bond market, traders and central bankers drove longer-term yields below 1 percent. Those depressed bond market yields fluctuated but never reclaimed their past heights. Interest rates were so low for so long that businesses and investors barely needed to think about them.

Organizations: Federal Reserve, Bear Locations: Washington, Bear Stearns

[1/3] The Standard Chartered bank logo is seen at their headquarters in London, Britain, July 26, 2022. The broader European banking index (.SX7P) fell as much as 2.4% to its lowest in four months by 1017 GMT. Top fallers on the index were Standard Chartered, down 9%, Swedbank (SWEDa.ST), down 7% and BNP Paribas (BNPP.PA), down around 4%. Concerns about China's economic fragility are also hitting some European banks with major operations in Asia. Sabadell (SABE.MC) rose around 3.7% after raising its outlook for 2023 net interest income growth on the back of higher interest rates.

Persons: Peter Nicholls, Chris Hiorns, Banks, Hiorns, Angelo Meda, Meda, Iain Withers, Naomi Rovnick, Joice Alves, Jesus Aguado, Danilo Masoni, Amanda Cooper, John Stonestreet, Toby Chopra Organizations: Chartered, REUTERS, BNP, European Central Bank, Traders, SIM, Sabadell, Thomson Locations: London, Britain, LONDON, Milan, Asia, Madrid

☆ The Fed is about to make its next move. Here are 8 quotes from Jerome Powell and other central bankers that point to what comes next.
▼ + stars: | 2023-10-25 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

After 11 interest rate hikes, Federal Reserve officials appear divided on next steps. Jerome Powell and other central bankers have signaled another rate hike could be on the table. Since the Federal Open Market Committee's September meeting, several central bankers have signaled that interest rates could still go higher. Atlanta Fed President, Raphael Bostic, October 20: "I really do try to keep people focused on what inflation is, still at 3.7%. Federal Reserve chairman, Jerome Powell, October 19: "Financial conditions have tightened significantly in recent months, and longer-term bond yields have been an important driving factor in this tightening.

Persons: Jerome Powell, —, CME's, Patrick Harker, Raphael Bostic, Neel Kashkari, Lorie Logan, Christopher Waller, Susan Collins Organizations: Federal Reserve, Service, Federal, Market, Philadelphia Fed, Atlanta Fed, Minneapolis Fed, Dallas Fed, Governors, Boston Fed

☆ Startup workers are on edge
▼ + stars: | 2023-10-25 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

In today's big story, we're looking at why startups that have navigated multiple rounds of layoffs have left their workers feeling defeated. It's a question more and more startup employees are contemplating amid a historic downturn in the industry coupled with a pullback in VC funding. But as Insider's Samantha Stokes and Madeline Renbarger detail, employees are on edge nowadays because of the threat of multiple layoffs in a short time. Why work for a corporate entity and be a cog in the wheel when you can get hands-on experience at a startup? AdvertisementAdvertisementiStock; Rebecca Zisser/InsiderBut just because layoffs are a necessary evil of the startup industry, that doesn't mean employees' concerns aren't warranted.

Persons: —, Jamie Dimon isn't, JPMorgan's Jamie Dimon isn't, Samantha Lee, Samantha Stokes, Madeline Renbarger, Samantha, Madeline they've, Rebecca Zisser, Severance, Jamie Dimon, David Rosenberg, Myriam, Airism, Arantza Pena Popo, Chris Rondeau, it's, Katy Perry, Pablo Picasso, Kiersten, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, What's, JPMorgan, EV, Microsoft, TikTok, IBM, Boeing, Meta, Mattel Locations: Southern California, New York City, San Diego, London, New York

☆ Mexico sees solid economic expansion but price pressures persist
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: +2 min

Yorio said he sees annual inflation stabilizing at around 4.5% toward the end of the year. However, Bank of Mexico board member Jonathan Heath cautioned that the slowing pace of the inflation rate in recent months should not prompt premature celebration, local media outlet El Financiero reported on Wednesday. We still see a long battle ahead and this inflation phenomenon has really been much more complex than we would have imagined," said Heath. His comments come as the central bank has kept its benchmark interest rate at 11.25% since March, following a nearly two-year rate-hike cycle. Reporting by Ana Isabel Martinez and Isabel Woodford; Writing by Sarah Morland; Editing by Stephen Eisenhammer and Alistair BellOur Standards: The Thomson Reuters Trust Principles.

Persons: Gabriel Yorio, Yorio, Jonathan Heath, we're, Heath, Ana Isabel Martinez, Isabel Woodford, Sarah Morland, Stephen Eisenhammer, Alistair Bell Organizations: MEXICO CITY, Mexican Senate, U.S, automaking, Bank of, El, Thomson Locations: MEXICO, Latin America, Mexican, Bank, Bank of Mexico

In the United States, the manufacturing sector pulled out of a five-month contraction on a pickup in new orders, and services activity accelerated modestly amid signs of easing inflationary pressures. HEADACHE FOR THE ECBIn the euro zone, business activity drooped as demand fell in a broad-based downturn across the region, causing the bloc to enter the fourth quarter on the wrong foot and suggesting it may slip into recession. "The flash PMIs mark a poor start to October for the euro zone, especially after showing some early signs of recovery in September," said Rory Fennessy at Oxford Economics. Suggesting a recession is well underway in Germany, Europe's largest economy, business activity contracted there for a fourth straight month as the downturn in manufacturing was matched by a renewed decline in services, its PMI showed. In France, the euro zone's second-largest economy, business activity remained in contraction territory in October, PMI data showed, improving just slightly from September's near three-year low.

Persons: Rebecca Cook, Chris Williamson, Christine Lagarde's, Rory Fennessy, Williamson, Ajay Banga, Dan Burns, Jonathan Cable, Lindsay Dunsmuir, Andrea Ricci Organizations: Ford Rouge Electric Vehicle, REUTERS, P Global, Composite, Federal, Commerce Department, Reuters, P, P Global Market Intelligence, P Global PMI, September's, European Central Bank, Oxford Economics, PMI, European Union, Bank of, Palestinian, Hamas, Thomson Locations: Dearborn , Michigan, U.S, United States, joblessness, Germany, Europe's, France, September's, Britain, Gaza, Ukraine

☆ Analysis: Middle East throws central banks yet more unknowns
▼ + stars: | 2023-10-20 | by ( Mark John | ) www.reuters.com time to read: +5 min

Now, to complicate matters for a professional caste which prides itself on being data-driven, the Middle East is throwing a new set of real but unquantifiable risks into their equations. Unless the picture changes dramatically in coming days, the European Central Bank, U.S. Federal Reserve, Bank of England and Bank of Japan are already expected to keep their policy rates on hold in meetings over the next two weeks. ECB rate-setter Yannis Stournaras, the governor of the Greek central bank, argued that Europe had broadly managed to absorb the effects of rising energy costs triggered by the Ukraine war and hoped it could do the same if further shocks emerged. For now, the conflict remains largely confined to Israel and Gaza, something S&P Global Market Intelligence said in a study this week was already "muddying the waters" for central banks. As the Fed's Powell put it: "Our institutional role at the Federal Reserve is to monitor these developments for their economic implications, which remain highly uncertain".

Persons: Jerome Powell, David Westin, Brendan McDermid, Powell, Huw Pill, Yannis Stournaras, Tetsuya Hiroshima, Fed's Powell, Dan Burns, Balazs Koranyi, Francesco Canepa, Maria Martinez, Leika, Kevin Yao, David Milliken, Tomasz Janowski Organizations: Federal, Anchor, Bloomberg, Street, Economic, of New, REUTERS, Bank of England, International Monetary Fund, European Central Bank, U.S, Federal Reserve, Bank of Japan, Fed, ECB, Reuters Graphics, Reuters, Tokai, Toyota Motor Corp, P Global Market Intelligence, Thomson Locations: of New York, New York City, U.S, Israel, Ukraine, Iran, Hormuz, Europe, United States, Japan, Gaza, Washington, Frankfurt, Berlin, Tokyo, Beijing, London

☆ After blockbuster Microsoft deal, gaming giants are still sitting on $45 billion cash hoard
▼ + stars: | 2023-10-20 | by ( Ryan Browne | ) www.cnbc.com time to read: +7 min

Public gaming companies currently hold cash and cash equivalents of $45.1 billion, according to a report from venture capital firm Konvoy. Publicly listed gaming companies had a fairly rosy year in 2023, on the whole. The VanEck Video Gaming and eSports ETF , which seeks to track MVIS Global Video Gaming & eSports Index, has climbed 20% in the year to date, according to Konvoy. Total venture funding into the video games industry in the third quarter of 2023 fell 9% quarter-over-quarter, to $454 million. That was when pandemic lockdowns were in full swing, and people had more time to spend playing video games indoors.

Persons: China's NetEase, hasn't, China's Tencent, Josh Chapman, Redmond, Chapman, Candy Crush, Konvoy's Chapman Organizations: Chesno Publicly, CNBC, Activision Blizzard, Electronic Arts, Nintendo, Bandai Namco, Public, Gaming, Esports, Big Tech, Microsoft, Google, Apple, Meta, Netflix, Sony, Activision, U.S, U.K, Markets Authority, Duty, Bandai Namco Entertainment Locations: Konvoy, Washington

☆ Wall St drops as Treasury yields surge, Powell speaks
▼ + stars: | 2023-10-19 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +4 min

Treasury yields rose further and the benchmark 10-year note yield was at a 16-year high of almost 5%. The rate-sensitive real estate sector (.SPLRCR) dropped 2.4% and was the day's worst-performing S&P 500 sector. [1/2]Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 15, 2023. The labor market is showing strength even though the central bank has raised its benchmark overnight interest rate by 525 basis points since March 2022. The S&P 500 posted 2 new 52-week highs and 37 new lows; the Nasdaq Composite recorded 15 new highs and 370 new lows.

Persons: Tesla, Jerome Powell, Elon Musk, Oliver Pursche, Jay Powell, Powell, Brendan McDermid, Caroline Valetkevitch, Shubham Batra, Shashwat Chauhan, Dhanya Ann Thoppil, Saumyadeb Chakrabarty, Vinay Dwivedi, David Gregorio Our Organizations: Netflix, Dow, Nasdaq, Treasury, Wealthspire Advisors, Economic, Dow Jones, New York Stock Exchange, REUTERS, Data, U.S . Labor Department, Netflix Inc, American Airlines, United Airlines, NYSE, Thomson Locations: Westport , Connecticut, New York, U.S, New York City, United States, Britain, France, Bengaluru

☆ Wall St ends down as Treasury yields surge, Powell speaks
▼ + stars: | 2023-10-19 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +2 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 28, 2023. Treasury yields rose further and the benchmark 10-year note yield was at a 16-year high of almost 5%. The Dow Jones Industrial Average (.DJI) fell 254.24 points, or 0.76%, to 33,410.84. Data this week has pointed to strong consumer demand and a tight labor market. A U.S. Labor Department report on Thursday showed the number of Americans filing new claims for unemployment benefits fell to a nine-month low last week.

Persons: Brendan McDermid, Jerome Powell, Elon Musk, Oliver Pursche, Jay Powell, Powell, Caroline Valetkevitch, Shubham Batra, Shashwat Chauhan, Dhanya Ann Thoppil, Saumyadeb Chakrabarty, Vinay Dwivedi, David Gregorio Our Organizations: New York Stock Exchange, REUTERS, Netflix, Tesla, Treasury, Wealthspire Advisors, Economic, Nasdaq, Dow Jones, U.S . Labor Department, Thomson Locations: New York City, U.S, Westport , Connecticut, New York, United States, Britain, France, Bengaluru

☆ VIEW Fed's Powell: Strong economy may still require rate increases - Reuters News
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: +2 min

Powell said U.S. central bankers are moving carefully on policy now after aggressive rate hikes last year to give time for tighter conditions to slow the economy and inflation. "Quite clear that the market is reading into Powell's comments on tighter financial conditions potentially leading to the tightening cycle being done and dusted. Obviously other FOMC officials have said similar, but hearing so 'from the horse's mouth' gives the statement extra credibility." The tone was a bit more dovish than other Fed officials recently. "It's hard to make too much of a determination about what happens with knee jerk reactions immediately after any type of Fed comments ...

Persons: Jerome Powell, Powell, MICHAEL BROWN, MICHAEL JAMES, There's, CHRIS ZACCARELLI Organizations: U.S, Treasury, ALLIANCE, Global Finance, Markets, Thomson Locations: U.S, CHARLOTTE, NC

☆ A rate cut will be bad news for stocks, JPMorgan warns — and outlines where to invest
▼ + stars: | 2023-10-19 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

However, Gimber believes Fed cuts in 2024 would likely coincide with declining corporate earnings, creating headwinds for stocks. Analysts are predicting 12% earnings growth for the S & P 500 as a whole in 2024. A further rate cut is also being priced in by November next year, according to data from CME's FedWatch Tool . "You have this disconnect at the moment: 12% earnings growth expected for next year and still the Fed expected to cut multiple times. It's about resilience in equities," Gimber said.

Persons: Hugh Gimber, Gimber, CNBC's, Dow Jones Organizations: Federal Reserve, Asset Management, –, Catalyst, JPMorgan, Treasury Locations: Brazil, Mexico, South Africa

☆ Make these 6 moves now to capitalize on one of the best long-term investing outlooks in over a decade, according to JPMorgan's $2.9 trillion asset management arm
▼ + stars: | 2023-10-19 | by ( James Faris | ) www.businessinsider.com time to read: +8 min

Investors shouldn't be scared off by slower economic growth caused by higher-for-longer interest rates and inflation, according to JPMorgan Asset Management (JPMAM). For reference, JPMAM called for forward long-term returns of 4.3% in 2021. The firm added that productivity gains from AI will likely add a tenth of a percentage point to global growth in the next decade. The long-awaited reversal for international stocks won't happen overnight, JPMAM strategists said. The firm is highly optimistic about the asset class after its brutal multi-year selloff and expects 4.6% and 5.1% long-term returns for those groups, respectively.

Persons: it's, JPMAM, David Kelly, Kelly, Monica Issar, Grace Koo, —, they're, Bob Michele, who's, he's, Bonds, REITs Organizations: Asset Management, Federal Reserve, European Central Bank, US, JPMorgan, Management, Fed, JPMorgan Asset Management, Investors Locations: Europe, Australasia, Real

☆ CNBC Daily Open: Earnings in full swing, Treasury yields hit new highs
▼ + stars: | 2023-10-19 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +2 min

This 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. Markets slideU.S. stock markets slid on Wednesday as earnings season picked up steam and Treasury yields touched multi-year highs — breaking above 4.9% for the first time since 2007. The electric vehicle maker reported adjusted earnings of 66 cents per share vs. 73 cents per share expected and revenue of $23.35 billion per share vs. $24.1 billion expected. Its earnings came in at $3.73 per share, better than the $3.49 per share expected.

Persons: Elon Musk, Tesla, Stocks Organizations: CNBC, Netflix, Counterpoint Research, JPMorgan, Asset Management, Federal Reserve Locations: Asia, Japan, South Korea, Hong Kong, China, Apple's

☆ Fed on pause as policymakers parse mixed data
▼ + stars: | 2023-10-18 | by ( ) www.reuters.com time to read: +3 min

"I believe we can wait, watch and see how the economy evolves before making definitive moves on the path of the policy rate," Fed Governor Christopher Waller told the European Economics & Financial Center Seminar in London. It can't continue this way, he said, but it's too soon to know which way the data will break. Should the economy soften, he said, "we can hold the policy rate steady." Speaking at a separate event at Queens College, New York Fed President John Williams offered a similar perspective. Fed policymakers are weighing whether that level is high enough to get inflation on a path to their 2% goal.

Persons: Christopher Waller, it's, John Williams, Waller, Ann Saphir, Michael S, Dan Burns, Jonathan Oatis Organizations: Federal Reserve, European Economics & Financial, Queens College, Queens College , New York Fed, Fed, Derby, Thomson Locations: London, Washington, Queens College ,

☆ Priced for earnings recession, European equities could weather storm
▼ + stars: | 2023-10-17 | by ( Joice Alves | ) www.reuters.com time to read: +5 min

After a long period of scepticism towards European equities, some investors and analysts are finding cause for optimism. European companies are expected to enter their first earnings recession - two consecutive quarters of falling earnings - since 2020. But European stocks are better priced for a recession than their U.S. counterparts, said Matthew McLennan, co-head of First Eagle’s Global Value team. First Eagle's McLennan said the weaker euro in part supported the outlook for European equities. "There's some possibility that European equities, by both their valuation and their currency valuation, could do better than U.S. equities over a period of time".

Persons: Jefferies, Mohit Kumar, LSEG, Matthew McLennan, Goldman Sachs, Oliver Collin, Europe's, Collin, LVMH, Ayesha Akbar, Eagle's McLennan, Joice Alves, Mark Potter Organizations: Silicon Valley Bank, Credit Suisse, Deutsche Bank, U.S, drugmaker Novo Nordisk, Fidelity, Thomson Locations: Frankfurt, Silicon, Germany, U.S

☆ Volatility in the Treasury market likely isn't over and the 10-year yield could reach 5%, BlackRock says
▼ + stars: | 2023-10-17 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

The asset manager said the 10-year Treasury yield will probably hit 5%. AdvertisementAdvertisementThe US Treasury market is still in for big swings of volatility, which could push the yield on the 10-year Treasury bond to 5%, according to BlackRock. "We have been underweight long-term US Treasuries since late 2020 as we saw the new macro regime heralding higher rates. Over the short-term though, Treasury yields are likely to experience more volatility, potentially swinging in both directions. But the economy is still under pressure from higher Treasury yields, which also work to tighten the screws on financial conditions.

Persons: —, Phillip Colmar Organizations: US Treasury, BlackRock, Service, Treasury, MRB Partners, Fed Locations: BlackRock

☆ Top economists unanimous on 'higher for longer' rates as inflation threats linger
▼ + stars: | 2023-10-17 | by ( Elliot Smith | ) www.cnbc.com time to read: +5 min

Pedestrians walk past a billboard announcing the World Bank Group and International Monetary Fund annual meetings, on the side of the International Monetary Fund headquarters in Washington DC on October 5, 2023. Mandel Ngan | Afp | Getty ImagesTop economists and central bankers appear to be in agreement on one thing: interest rates will stay higher for longer, clouding the outlook for global markets. Despite the pause, Fed officials have signaled that rates may have to remain higher for longer than markets had initially expected if inflation is to sustainably return to the central bank's 2% target. The European Central Bank last month issued a 10th consecutive interest rate hike to take its main deposit facility to a record 4% despite signs of a weakening euro zone economy. "We may have more shocks that may drive inflation up, and that's why of course we have to remain very cautious about inflation developments."

Persons: Mandel Ngan, Ajay Banga, Greg Guyett, Guyett, Boris Vujčić, Vujčić, Mārtiņš Kazāks, CNBC's Joumanna Bercetche, Silvia Amaro, Austrian National Bank Governor Robert Holzmann Organizations: World Bank Group, International Monetary Fund, Washington DC, Afp, Getty, U.S . Federal Reserve, World Bank, IMF, Bank, Labor Department, U.S ., HSBC, CNBC, European Central Bank, Council, Croatian National Bank, U.S, Bank of Latvia, ECB, Governing Council, Austrian National Bank Governor Locations: Washington, Central, U.S, Marrakech, Morocco, ECB's, Europe, Marrakech ., Israel

☆ This Morgan Stanley veteran is ready to be CEO — it just might be somewhere else
▼ + stars: | 2023-10-17 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +16 min

Morgan Stanley CEO James Gorman plans to retire by May 2024. "Cross-pollinating key leaders across our major businesses further knits the Morgan Stanley culture," Gorman wrote in a memo at the time. Morgan Stanley, which was the lead underwriter, had to step in to prop up the stock. In 2010, Morgan Stanley was picked as one of two lead underwriters — the other being JPMorgan — for the IPO of General Motors. With Morgan Stanley at the top of its game, breaking up this well-oiled team could be disastrous.

Persons: Morgan Stanley, James Gorman, Ted Pick, Andy Saperstein, Dan Simkowitz, He's, Simkowitz, Eaton Vance, Pick, Morgan, Getty, Dan, doesn't, Gorman, Morgan Stanley's, Saperstein, executive's protégé, Andy, Alex, Brown, Ted, she'd, Simkowitz's, Dean Witter Reynolds, Eaton, Calvert, Ruth Porat, Bob Scully, Fannie Mae, Freddie Mac, Will Dotson, Dan Akerson, TIMOTHY A, CLARY, Erik Gordon, Dodd, Frank, David Bieri, Gonzalo Marroquin, Patrick McMullan, Paul Taubman, Colm Kelleher, coheads, John Mack, Phil Purcell, Hayley Cuccinello Organizations: Disney, Harvard, McKinsey, Columbia Business School, Maccabiah Games, Team USA, Maccabi USA, Trenton Almgren, Davis, Lucent, Verizon, Mesa West Capital, JPMorgan, Calvert Research, Management, Facebook, Massachusetts Securities Division, Treasury, JPMorgan —, General Motors, Government Motors, General, New York Stock Exchange, Getty, University of Michigan's Ross School of Business, Citigroup, Virginia Tech, US Securities and Exchange Commission, United States Attorney's Office, Southern, of Locations: Bloomington , Indiana, Trenton, New York, Tokyo and Hong Kong, Boston, Washington, Switzerland, of New York, hcuccinello@insider.com

U.S. retail sales for last month came in much stronger than expected on Tuesday, signaling shoppers were not deterred by sticky inflation. Before the opening bell, the government reported September retail sales rose 0.7% from the prior month — more than double the estimates. Measuring year over year, the 3.8% increase in retail sales was still slightly higher than the CPI's advance of 3.7%. The retail sales data pointed to a resilient economy despite inflation still running way above the Federal Reserve's 2% target. TJX YTD mountain TJX Companies YTD Clothing and clothing accessories stores were down 0.8% month-over-month but increased 0.1% year-over-year.

Persons: Jim Cramer, We're, TJX, Jim Cramer's, Jim, Jamie Kelter Davis Organizations: Atlanta, Deal, Web Services, Food, Companies, CNBC, Shoppers, Bloomberg, Getty Locations: Maxx, Chicago

☆ Homebuilder confidence drops to the lowest in 10 months as high mortgage rates freeze the housing market
▼ + stars: | 2023-10-17 | by ( Phil Rosen | ) www.businessinsider.com time to read: +3 min

Stubbornly high mortgage rates have taken a toll on builder sentiment, the group said. AdvertisementAdvertisementHomebuilder confidence just plunged to its lowest mark in 10 months, the National Association of Home Builders announced on Tuesday. The group cited stubbornly high mortgage rates as the primary drag on confidence. On Tuesday, rates on the 30-year fixed mortgage hit 7.92%, according to Mortgage News Daily's index. Buyers and sellers alike have largely been kept on the sidelines as mortgage rates hover near multi-decade highs and moving homes looks unattractive.

Persons: —, Alicia Huey, Robert Dietz, Dietz Organizations: Service, National Association of Home Builders, Market, Mortgage, Builders, Federal Locations: Wells Fargo

☆ Key takeaways from the IMF/World Bank meetings
▼ + stars: | 2023-10-14 | by ( ) www.reuters.com time to read: +5 min

Global inflation is seen dropping from 6.9% this year to a still-high 5.8% next. Italian central bank governor Ignazio Visco said there was an impression markets were "reevaluating the term premium" as investors become more nervous about holding longer term debt. One debt restructuring deal emerged: Zambia finally agreed a debt rework memorandum of understanding with creditors including China and France. Sri Lanka said on Thursday it reached an agreement with the Export-Import Bank of China covering about $4.2 billion of debt, while talks with other official creditors are stalling. There was much talk ahead of Marrakech on revamping the IMF and World Bank to better reflect the emergence of economies like China and Brazil.

Persons: Ajay Banga, Mercy Tembon, Finance Serhiy Marchenko, Ceda Ogada, Kristalina Georgieva, Pierre, Olivier Gourinchas, Ignazio Visco, Joyce Chang, Vitor Gaspar, Mehmet Simsek, Murat Ulgen, Kate Donald, Ahmed El Jechtimi, Andrea Shalal, David Lawder, Leika Kihara, Elisa Martinuzzi, Rachel Savage, Jorgelina, Rosario, Balazs Koranyi, Mark John, Christina Fincher Organizations: Bank, Finance, International Monetary Fund, Emerging, Research, HSBC, Reuters, Export, Import Bank of, World Bank, Oxfam International's Washington DC Office, Thomson Locations: Ukraine, MARRAKECH, Morocco, Moroccan, Marrakech, Israel, Central, United States, China, Italy, Italian, Turkey, Kenya, Zambia, France, Sri Lanka, Import Bank of China, Brazil, U.S

☆ Here are 3 things to watch in the stock market after a very difficult week
▼ + stars: | 2023-10-14 | by ( Matthew J. Belvedere | ) www.cnbc.com time to read: +10 min

MS YTD mountain Morgan Stanley YTD We certainly hope Morgan Stanley's numbers are as good as Friday's report from our other bank holding Wells Fargo (WFC). Morgan Stanley is expected to grow revenue by more than 2% year over year to $13.2 billion in the third quarter. During a recent conference, Morgan Stanley executives said that capital markets will likely improve in 2024. Shares of Morgan Stanley have struggled this year, dropping more than 8% compared to the S & P 500's nearly 13% advance in 2023. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Stocks, WTI, Jerome Powell's, There's, Patrick Harker, John Williams, Harker, Austan Goolsbee, Lorie Logan, Powell, Christopher Waller, Philip Jefferson, Waller, Jefferson, – Morgan Stanley, Gamble –, Morgan Stanley YTD, Morgan, Jim Cramer, Morgan Stanley, there's, Gamble, Jim, we'll, Charles Schwab, Goldman Sachs, Johnson, Philip Morris, — CNBC's Zev Fima, Jim Cramer's, Spencer Platt Organizations: Nasdaq, Dow, Columbus Day, West Texas, Federal Reserve, Club, Fed, Market, Philadelphia Fed, New York Fed, Chicago Fed, Dallas Fed, United Auto Workers, General Motors, Chrysler, Ford, National Association of Realtors, Procter, Procter & Gamble, Natural Resources, Exxon Mobil, Coterra Energy, of America, United Airlines, Gamble, Housing, Netflix, Alcoa, American Airlines, Taiwan Semiconductor Manufacturing Company, Alaska Air, CSX, American Express, Jim Cramer's Charitable, CNBC, New York Stock Exchange, Getty Locations: Israel, U.S, New, Wells, KBW, Silicon, Manhattan, New York City

Search resuls for: "Central Banker"

25 mentions found