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☆ Expect a 3-handle on the Fed funds rate by the middle of next year, says Wharton's Jeremy Siegel
▼ + stars: | 2024-10-10 | 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 EmailExpect a 3-handle on the Fed funds rate by the middle of next year, says Wharton's Jeremy SiegelJeremy Siegel, professor emeritus of finance at University of Pennsylvania’s Wharton School of Business and Wisdom Tree chief economist, joins 'Squawk Box' to discuss the state of the economy, what to expect from the September CPI data, impact on the Fed's inflation fight, and more.

Persons: Wharton's Jeremy Siegel Jeremy Siegel Organizations: University of Pennsylvania’s Wharton School of Business

Somebody said, ‘You should be nice sir, women won’t like it,’” Trump said, adding: “The women want safety.”He then described an apocalyptic America if he loses. While the economy was the ostensible theme of the rally, Trump went on an array of tangents. He went on a riff about billionaire ally Elon Musk’s “doing jumping jacks” at a recent rally with him in Butler, Pennsylvania. Ahead of Trump’s speech, Harris spokesperson Ammar Moussa said in a statement that Trump was “projecting weakness, not strength,” by sticking to safe environments. Debbie Hendrix, a Scranton native who attended Trump’s rally wearing a “MAGA” hat, said she’s cautiously optimistic but unsure Trump will win the state.

Persons: Donald Trump, Kamala Harris ’, Marxist ”, “, ‘, ” Trump, “ Kamala, Joe Biden, Trump, Harris, Barack Obama, ” “ Kamala, ”, rescinding, Harris —, —, Biden, Elon Musk’s, Robert Hur didn’t, Hunter, he’s, Adam Schiff, Ammar Moussa, Donald Trump’s, ” Moussa, Debbie Hendrix, MAGA, she’s Organizations: Democratic, Marxist, Electoral, Green New Deal, Biden, Social Locations: SCRANTON, Pa, America, Pennsylvania, Pittsburgh, United States, Butler , Pennsylvania, ”, Russia, Madison, New York City, New Jersey, Virginia, New Mexico, Minnesota, Scranton

As the Federal Reserve cuts interest rates, investors should review their bond portfolio, which could see a boost from dovish Fed policy. Typically, bond prices and market interest rates move in opposite directions. While it may be tempting to cling to cash, it will become “less attractive, less productive as interest rates fall,” Ward said. Many corporations leveraged rock-bottom interest rates during the pandemic to strengthen balance sheets and refinance debt, said Ward. As interest rates fall, those longer-maturity bonds should reward investors, experts say.

Persons: ”, Scott Ward, ” Ward, Ted Jenkin, Ward, “, Jenkin Organizations: Federal Reserve, dovish Fed, Fed, Morningstar, Bond, CNBC’s Locations: Birmingham , Alabama, Atlanta, “

Like the presidential contest, the Senate race offers deep contrasts in a state that’s been divided neatly in half for years. We want to have a lawfully run election,” Lake said. In 2022, Lake challenged her loss to Hobbs, taking it all the way through the Arizona legal system. “It’s going to be a tight race,” Lake acknowledged. In 2018, Gallego rallied alongside Sen. Bernie Sanders, I-Vt., in Phoenix, saying facetiously: “President Trump is going to build a wall.

Persons: Kari Lake, Ruben Gallego, Sen, Kyrsten, Gallego, Katie Hobbs, Kamala Harris, Joe Biden, ” Gallego, Harris, Biden, “, haven’t, Lake’s —, Donald Trump’s —, John McCain, McCain, ”, Ruben ”, Paul Hickman, —, he’s, Kate Gallego, Trump, Lake, Hobbs, ” Lake, “ It’s, I’ve, Bernie Sanders, It’s, Donald Trump, they’re “ Organizations: PHOENIX, White, Trump, NBC News, Democratic, Arizona Republican, Republicans, Independents, McCain, Phoenix, Congress, Lake, Senate, Republican, Phoenix Fox, AARP, Harris ’, Democrat Party, Congressional Progressive Caucus, “, Phoenix Police Association, Justice Department, Phoenix Police Department, Phoenix police, NBC, Arizona Police Association Locations: PHOENIX — Arizona, Scottsdale, “, Arizona, Congress, Vietnam, American, Colombian, Ukraine, ”, Israel, Taiwan, Maricopa County, Iowa, Gallego, Phoenix

☆ Economy isn't out of the woods yet, says Roth Capital's Michael Darda
▼ + stars: | 2024-10-09 | 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 EmailEconomy isn't out of the woods yet, says Roth Capital's Michael DardaMichael Darda, Roth Capital Partners chief economist and macro strategist, joins CNBC's 'The Exchange' to discuss macro outlooks, expectations for the Fed, and more.

Persons: Roth, Michael Darda Michael Darda Organizations: Roth Capital Partners, Fed

☆ AI startup Writer, currently fundraising at a $1.9 billion valuation, launches new model to compete with OpenAI
▼ + stars: | 2024-10-09 | by ( Hayden Field | ) www.cnbc.com time to read: +3 min

San Francisco-based AI startup Writer debuted a large artificial intelligence model Wednesday to compete with enterprise offerings from OpenAI, Anthropic and others. The company cuts costs using synthetic data, or data created by AI. Waseem Alshikh, Writer's co-founder and CTO, told CNBC that Writer has been working on its synthetic data pipeline for years. The generative AI market is poised to top $1 trillion in revenue within a decade. To date in 2024, investors have pumped $26.8 billion into 498 generative AI deals, according to PitchBook, and companies in the sector raised $25.9 billion in 2023, up more than 200% from 2022.

Persons: May Habib, That's, It's, Waseem, Writer's, Alshikh Organizations: Work Summit, Porsche, Raffles London, CNBC, Meta, Microsoft, Accenture, Uber, L'Oreal, Vanguard Locations: London, England, San Francisco, OpenAI, Anthropic

☆ Fed minutes indicate officials were divided on whether to cut rates by half a point in September
▼ + stars: | 2024-10-09 | 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 EmailFed minutes indicate officials were divided on whether to cut rates by half a point in SeptemberCNBC’s Steve Liesman, joins 'Power Lunch' to discuss the findings in the Fed minutes.

Persons: Steve Liesman

☆ Recession fears are fading. Now it’s time for America’s companies to back that up
▼ + stars: | 2024-10-09 | by ( Krystal Hur | ) edition.cnn.com time to read: +4 min

New York CNN —Hopes for avoiding a recession are growing on Wall Street. Now, investors are looking to the upcoming earnings season for clues about the US economy’s health. The earnings season begins in earnest Friday with quarterly updates from big banks including JPMorgan Chase, Wells Fargo and BlackRock. Wall Street will also parse the September Consumer Price Index report and wholesale inflation figures due later this week. Wall Street will also eye developments from the tech companies whose mammoth stock returns have helped power this year’s bull market.

Persons: Motors, “, ”, Sarah Henry, Wells, Mark Malek, Siebert, Dave Sekera Organizations: New, New York CNN, Economic, PepsiCo, Conagra Brands, Logan Capital, JPMorgan Chase, Federal Reserve, Tech, “, FactSet, Apple, Nvidia, Communication, Morningstar Locations: New York, Wells Fargo, BlackRock

☆ Stock futures are little changed as September consumer inflation report looms: Live updates
▼ + stars: | 2024-10-09 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

Traders work on the floor of the New York Stock Exchange during morning trading in New York City. U.S. stock futures were little changed Wednesday night as investors looked ahead to the release of September's consumer price index report. Futures tied to the Dow Jones Industrial Average traded near the flatline. Fed funds futures trading data suggests a roughly 70% likelihood of a quarter-point cut, according to CME Group's FedWatch tool. Economists polled by Dow Jones see core CPI, which excludes food and energy prices, rising by 0.2%.

Persons: Dow, Dow Jones, Stephanie Roth Organizations: New York Stock Exchange, Dow Jones Industrial, Nasdaq, Federal, Wolfe Research, Delta Air Lines Locations: New York City . U.S

☆ 4 trends to watch this bank earnings season
▼ + stars: | 2024-10-09 | by ( Kaja Whitehouse | ) www.businessinsider.com time to read: +6 min

Expect lots of questions about how lower rates will affect business going forward. JPMorgan and Wells Fargo will kick off earnings on Friday, followed by Goldman Sachs, Citi, and Bank of America on Tuesday. Related storiesHere are the top four things to look for this bank earnings season. AdvertisementGoldman Sachs CEO David Solomon described a "more challenging macro environment, particularly in the month of August," and said the bank's trading business was "trending down close to 10%." In good news, the compensation expert Johnson Associates sees bonuses up this year across the board, an analysis that's reflected in part of Wall Street's earnings results so far this year.

Persons: Wells Fargo, —, Daniel Pinto, Wells, Goldman Sachs, Morgan Stanley, What's, David Solomon, Solomon, Pinto, Banks, Johnson Organizations: JPMorgan, Service, JPMorgan Chase, Federal Reserve, Citi, Bank of America, Investment, LSEG, Renaissance, Barclays Financial Services Conference, Lending, Fed, Wall, Barclays

☆ Why the interest-rate cut isn't delivering the relief consumers were hoping for
▼ + stars: | 2024-10-09 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

In today's big story, we got our first interest-rate cut, but it doesn't feel like it for many consumers . We finally got an interest-rate cut, but borrowing costs are still high. First off, last month's interest-rate cut wasn't going to provide immediate relief. Yes, the average 30-year fixed mortgage rate has gone up 47 basis points since the Fed cut rates , writes BI's Matthew Fox. So the Fed cut rates but borrowing costs went up?

Persons: —, Milton, Alyssa Powell, isn't materializing, Jennifer Sor, Let's, BI's Matthew Fox, I'm, It's, BI's James Rodriguez, who's, Warren Faidley, Hurricane Milton, Hindenburg, Chelsea Jia Feng, Vinod Khosla, OpenAI, Mark Zuckerbergs, Gen Zers, haven't, Rebecca Zisser, Elon Musk's, Tesla, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Milan Sehmbi, Amanda Yen Organizations: Business, Service, Gas, Hindenburg, Tech, DOJ, Google, Walt Disney World, Hurricane Milton, Federal Reserve, Fed, Treasury, Hurricane, Energy, Futures, Bank of America, Disney Locations: Florida, Warren, Tampa, Chelsea, Robotaxi, Hurricane, New York, London

☆ It will be hard for the Fed to bring core inflation down, says BMO's Carol Schleif
▼ + stars: | 2024-10-09 | 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 EmailIt will be hard for the Fed to bring core inflation down, says BMO's Carol SchleifCarol Schleif, BMO Family Office CIO, joins 'Squawk Box' to discuss the latest market trends, state of the economy, whether a soft landing can be achieved, the Fed's inflation fight, and more.

Persons: Carol Schleif Carol Schleif Organizations: Fed, BMO Family

☆ Markets will be looking for any surprises out of Thursday's big inflation report
▼ + stars: | 2024-10-09 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Federal Reserve policymakers have been breathing easier lately regarding inflation, and that faith that they're closer to achieving their goal will get a key test Thursday. Specifically, the Labor Department's reading is expected to show an annual inflation rate of 2.2% and a monthly gain of just 0.1%, according to the Dow Jones consensus. However, following a much better than expected jobs report for September, Fed officials in recent days have indicated a likely more measured approach to cuts ahead. Details in Thursday's report will matter: Housing inflation has proven to be stubborn, though policymakers still expect lower rent renewals to feed into the data the months progress. The report hits just after the S & P 500 rose to a new record on Wednesday.

Persons: Dow Jones, Lorie Logan, Logan Organizations: Labor Department, Labor, Dallas

☆ JPMorgan recommends stocks to buy if economic recovery continues into the holidays
▼ + stars: | 2024-10-09 | by ( Sean Conlon | ) www.cnbc.com time to read: +3 min

Last month, the Federal Reserve slashed interest rates by a half point – the first time the central bank cut rates since 2020. Since the Sept. 18 meeting, the market has moved even higher, with all three major averages gaining between 1% and 3%. The bank noted that several of the companies in the screen have lagged the cyclical recovery, making the stocks likely to benefit from the market's ongoing rotation. JPMorgan rates Alaska Air overweight. Wall Street is rather bullish on the name, as 10 of the 14 analysts covering the stock have a buy or strong buy rating.

Persons: Dubravko, Bujas, E.l.f, Tarang Amin, CNBC's, Brian Niccol, Elliott Hill Organizations: JPMorgan, Federal Reserve, Federal, Fed, Alaska Air, Hawaiian Airlines, U.S . Department, Starbucks, Nike

☆ Fed officials were divided on whether to cut rates by half a point in September, minutes show
▼ + stars: | 2024-10-09 | by ( Jeff Cox | ) www.cnbc.com time to read: +5 min

"A few participants also added that a 25 basis point move could signal a more predictable path of policy normalization." Since the meeting, economic indicators have showed that the labor market is perhaps stronger than officials favoring the 50 basis point move had expected. The minutes noted that the vote to approve the 50 basis point cut came "in light of the progress on inflation and the balance of risks" against the labor market. Though the document was more detailed about the debate over whether to approve the 25 basis point cut, there was not as much information about why voters supported the larger move. Since the Fed meeting, both the 10- and 2-year Treasury yields have surged about 40 basis points.

Persons: Michelle Bowman, nonfarm, Jerome Powell, Powell Organizations: Federal, Market, Treasury Locations: WASHINGTON

Harris advisers often publicly dismiss the polls, acknowledging that the race is close and will remain so leading up to Election Day. Others want to focus on mobilizing men and men of color to turn out – a demographic that remains a point of concern among Harris campaign officials. And I am running like the underdog because I am the underdog in this race,” Harris told donors at a fundraiser in late September. “When Black voters are getting inundated by anti-Harris mail, anti-Harris ads, the face-to-face conversations matter even more,” the operative said. Harris campaign surrogates have told CNN that there is also still a lot to do to shore up support among Latinos in the final weeks before Election Day.

Persons: Joe Biden, Kamala Harris, Harris, Donald Trump, Trump, Harris ’, “, Hillary Clinton, Biden, Clinton, ” Brendan McPhillips, John Murtha Johnstown, Andrew Harnik, ” Harris, Dan Kanninen, ”, we’ve, ” Kanninen, –, ” Patrick Murray, Murray, would’ve, ” Murray, Evelyn Hockstein, don’t, outpacing Harris, Anthony West, ” West, Cedric Richmond, ” Richmond, surrogates, “ There’s, Adriano Espaillat, Chuck Rocha, it’s Organizations: CNN, Democratic, “, Democrats, Trump, Pennsylvania, Cambria, Biden, Electoral, Monmouth University Polling Institute, Dort Financial, Reuters, Black, NAACP, White, Department of Justice, Collective PAC, ”, Black Colleges, Universities, Georgia, Former Louisiana Rep, Social Security, ” New York Democratic Locations: Israel, Gaza, Lebanon, Cambria County, Pennsylvania, Johnstown , Pennsylvania, Cambria, Monmouth, Dort, Flint , Michigan, Milwaukee, San Francisco, Black, Georgia

☆ Here are Wednesday's biggest analyst calls: Nvidia, Apple, Netflix, FedEx, Reddit, Broadcom, Chewy & more
▼ + stars: | 2024-10-09 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Here are Wednesday's biggest calls on Wall Street: Citi initiates FedEx and UPS as buy Citi said in its initiation note that FedEx and UPS are well positioned. "Netflix remains a compelling growth story with significant room for revenue, earnings, and FCF growth over the next several years." Wells Fargo upgrades Valero to overweight from equal weight Wells said the company is one of the "best independent refiners." Mizuho reiterates Nvidia and Broadcom as outperform Mizuho said it's sticking with its outperform ratings on Nvidia and Broadcom. Wells Fargo reiterates Roblox as overweight Wells Fargo raised its price target on Roblox ahead of earnings in late October to $54 per share from $46.

Persons: underperform Jefferies, Guggenheim, TD Cowen, Cowen, Morgan Stanley, it's bullish, Piper Sandler downgrades Blackstone, Piper, Piper Sandler, Wells, Jefferies, Wolfe, VALE, Chewy, it's, Mizuho, Wells Fargo, Evercore Organizations: Citi, FedEx, UPS, Jefferies, Southwest, Deutsche Bank, Netflix, Deutsche, Inc, MetLife, Barclays, Apple, Apple Intelligence, New York Times, Industry, Nvidia, Broadcom, Mizuho, Lowe's Locations: Valero, underperform, Underperform

☆ Consolidation of Taiwan's financial industry is good: Cathay Financial
▼ + stars: | 2024-10-09 | 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 EmailConsolidation of the Taiwanese financial industry is a good sign: Cathay Financial HoldingsChang-Ken Lee, president of Taiwan's biggest financial conglomerate, Cathay Financial Holdings, says he welcomes rate cuts from the Fed & global central banks. He also weighs in on the Taiwan's transforming financial industry.

Persons: Cathay Financial Holdings Chang, Ken Lee Organizations: Cathay Financial Holdings, Fed

☆ We see a driver for AMD stock coming up — plus, what's behind the continued market rally
▼ + stars: | 2024-10-09 | by ( Jeff Marks | ) www.cnbc.com time to read: +5 min

With oil prices sliding and China's market giving back more of its recent gains, U.S. stocks have been free to rally. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, it's, Morgan Stanley, Vimal Kapur, Kapur, Wedbush, Jim Cramer's, Jim Organizations: CNBC, ., Federal, Fed, CME Fed Watch, Honeywell, Nvidia, Broadcom, AMD, Bank of America, Oracle, Microsoft, ZT Systems, PPI, Jim Cramer's Charitable Locations: Wells Fargo, Turin

☆ Dollar steady ahead of Fed minutes, New Zealand dollar falls after rate cut
▼ + stars: | 2024-10-09 | by ( ) www.cnbc.com time to read: +1 min

The New Zealand dollar slumped to its lowest since Aug. 19 at $0.6096, after the Reserve Bank of New Zealand cut interest rates by 50 basis points. A majority of economists in a Reuters poll last week had predicted a big half a percentage point cut. The central bank kicked off an easing cycle in August seeking to trim rates from 15-year highs. The U.S. data calendar this week is relatively light, offering a breather after a strong jobs report on Friday sent the dollar jumping and markets repricing the expected scale of upcoming interest rate reductions. On Wednesday, investors will get minutes of the Fed's September meeting, which will show discussions about what at the time had appeared to be a deteriorating labor market that ended with all but one policymaker agreeing to a 50-basis point cut.

Organizations: New Zealand, Reserve Bank of New Locations: United States, Reserve Bank of New Zealand, U.S

☆ As interest rates fall, it's a 'fantastic time' to revisit bonds, advisor says — here's why
▼ + stars: | 2024-10-09 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

As the Federal Reserve cuts interest rates, investors should review their bond portfolio, which could see a boost from dovish Fed policy. However, the Fed policy shift could be good for parts of the bond market, experts say. Typically, bond prices and market interest rates move in opposite directions. "This is a fantastic time to revisit bonds again," said certified financial planner Scott Ward, senior vice president of Compound Planning in Birmingham, Alabama. While it may be tempting to cling to cash, it will become "less attractive, less productive as interest rates fall," Ward said.

Persons: Scott Ward, Ward Organizations: Federal Reserve, dovish Fed, Finance, SEC, Fed Locations: Birmingham , Alabama

☆ Mid-cap stocks are a better hedge in the near term than small caps, says BofA's Jill Carey Hall
▼ + stars: | 2024-10-09 | 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 EmailMid-cap stocks are a better hedge in the near term than small caps, says BofA's Jill Carey HallJill Carey Hall, Bank of America Global Research head of U.S. small and mid-cap strategy and senior U.S. equity strategist, joins 'Squawk Box' to discuss the latest market trends, why she likes mid-cap stocks in the near term, the Fed's inflation fight, interest rate outlook, and more.

Persons: Jill Carey Organizations: Jill Carey Hall , Bank of America Global Research

☆ Stock market today: US stocks close at all-time highs ahead of key inflation update
▼ + stars: | 2024-10-09 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +4 min

Indexes hit fresh all-time highs ahead of the key inflation report for September due Thursday. AdvertisementUS stocks jumped on Wednesday as traders looked ahead to coming inflation data and took in the minutes of the Federal Reserve's last meeting. The stakes of the next inflation reading have risen after the big September jobs number, and Wall Street could be in for some volatility in the event of an upside surprise, Bank of America said this week. Central bankers predicted inflation would fall to 2% by 2026, while risks to economic strength were "tilted to the downside." According to the CME FedWatch tool, the odds for another jumbo-sized rate cut in 2024 have fallen to zero.

Persons: —, Josh Hirt, Oliver Allen Organizations: Service, Dow Jones Industrial, Investors, Nasdaq, Justice, Treasury, Here's, Fed, Bank of America, Vanguard, Pantheon

☆ Gold lacks momentum as investors brace for Fed minutes
▼ + stars: | 2024-10-09 | by ( ) www.cnbc.com time to read: +2 min

Gold prices slipped on Thursday as investors booked profits after a sustained rally and pressure from institutional investors looking to raise cash, while focus shifted to U.S. economic data for clues on the Federal Reserve's rate path. Gold prices were subdued on Wednesday as investors strapped in for minutes from the Federal Reserve's latest policy meeting for insights into the U.S. central bank's interest rate trajectory. "Gold prices seem to be seeing a much-needed retracement lower. Boston Fed President Susan Collins said on Tuesday that weakening inflation trends make it likely the U.S. central bank can implement further interest rate cuts. Zero-yield bullion tends to thrive in a low interest rate environment.

Persons: I'm, Matt Simpson, Simpson, Susan Collins Organizations: Federal, Index, Traders, U.S . Consumer, Boston, Gold Locations: U.S, North America

☆ What to watch for when banks report Q3
▼ + stars: | 2024-10-09 | 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 EmailWhat to watch for when banks report Q3Thomas Michaud, KBW president and CEO, joins 'Money Movers' to discuss what to watch for in Q3 bank earnings, how the Fed's path for rate cuts could impact the markets, and more.

Persons: Thomas Michaud

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