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☆ Gold gains as traders gear up for U.S. inflation data
▼ + stars: | 2023-04-12 | by ( ) www.cnbc.com time to read: +2 min

Gold prices gained on Wednesday as investors keenly await key U.S. inflation data for signs of how close interest rates are to peaking. Gold could continue to drift higher "as early birds place their bets on a soft inflation report," said Matt Simpson, senior market analyst at City Index. "A soft inflation print could send gold prices above $2,032 to mark a fresh YTD high, given the inverted yield curve, talks of soft growth and rise of geopolitical tensions across parts of Asia." Philadelphia Fed Bank President Patrick Harker on Tuesday said he feels the Fed may soon be done raising rates, while New York Fed President John Williams said the Fed's policy path will depend on incoming data. A "weaker U.S. dollar and returning investment flows have been holding (gold) prices," ANZ said in a note.

☆ Tax refunds are getting smaller, and fit into the picture of a slowing economy
▼ + stars: | 2023-04-12 | by ( Eric Rosenbaum | ) www.cnbc.com time to read: +8 min

But as pandemic-related tailwinds run their course, another example becoming a thing of the recent past is bigger than typical tax refunds. "Earlier in the quarter, we were seeing taxes, your tax refunds higher year-over-year, during the last probably five or six weeks we've seen that decline. As pandemic-era benefits and tax credit wane, the tax refund data factors into the broader economic picture and the consumer as a source of strength. watch nowAll spending, not just retail spending, will be impacted by lower tax refunds, and that will continue into next quarter. The smaller tax refunds should not be a surprise to businesses — the data has been mounting over the past four to six weeks.

☆ Inflation rises 0.1% in March, less than expected
▼ + stars: | 2023-04-12 | 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 EmailInflation rises 0.1% in March, less than expectedCNBC's Rick Santelli reports on consumer price index data from March, which showed inflation rising 0.1% in March, less than expected.

☆ Warren Buffett reacts to March inflation data: We don't profit from statistics and guessing
▼ + stars: | 2023-04-12 | 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 EmailWarren Buffett reacts to March inflation data: We don't profit from statistics and guessingBerkshire Hathaway’s Warren Buffett joins 'Squawk Box' from Tokyo to react to the latest consumer price index data from March.

☆ Restaurant prices are rising faster than grocery prices for the first time since inflation ran hot
▼ + stars: | 2023-04-12 | by ( Amelia Lucas | ) www.cnbc.com time to read: +3 min

For the first time since inflation began accelerating in mid-2021, restaurant prices outpaced grocery prices on a 12-month basis, according to the Labor Department. For months, restaurant CEOs like Cheesecake Factory's Matthew Clark and Wendy's Todd Penegor have touted their meals as a relative bargain compared with eating at home, based on consumer price index data. March food prices rose 8.5% over the last 12 months, fueled by the jump in the cost of eating away from home, which was up 8.8% over that period. The National Restaurant Association's chief economist, Bruce Grindy, attributed the increase to the surge in food prices at schools as free lunch programs instituted during the Covid pandemic expired. The overall consumer price index has risen 5% over the last 12 months as inflation continues to cool.

☆ Cramer on inflation: If you're going to raise rates because of this, then you don't care about the data
▼ + stars: | 2023-04-12 | 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 EmailCramer on inflation: If you're going to raise rates because of this, then you don't care about the dataCNBC’s Carl Quintanilla, Jim Cramer and David Faber discuss the latest consumer price index data from March, and how it will affect the Fed's decision on interest rates.

☆ Wall Street meanders, dollar gains as Fed rate hike seen in May
▼ + stars: | 2023-04-10 | by ( Herbert Lash | ) www.reuters.com time to read: +4 min

"My sense is that the labor market and CPI would favor the Fed raising rates again. However, what has made the market have second thoughts is the extent of the tightening of lending." The dollar index rose 0.52% and the two-year Treasury yield, which typically moves in step with interest rate expectations, added 4.2 basis points to 4.014%. On Wall Street, the Dow Jones Industrial Average (.DJI) rose 0.3%, the S&P 500 (.SPX) gained 0.10% and the Nasdaq Composite (.IXIC) dropped 0.03%. The dollar extended gains against the yen to 133.87 , the highest since March 15, on receding expectations of a near-term tweak to Japan's ultra-loose monetary policy.

☆ Treasury yields fall after data shows U.S. job growth slowed in March
▼ + stars: | 2023-04-10 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

U.S. government debt prices were higher on Monday, after data released last week hinted at a slowdown in job growth. The yield on the benchmark 10-year Treasury note slipped to 3.3626%, while the yield on the 30-year Treasury bond dipped to 3.5811%. Last week, the Labor Department released nonfarm payroll data for March, showing that the U.S. economy added 236,000 jobs over the period. Also in focus for investors is the inflation outlook, with consumer price index data due out on Wednesday. Auctions of three-month and six-month Treasury bills are scheduled for 11.30 a.m.

☆ The resilient job market is finally showing signs of cooling off
▼ + stars: | 2023-04-10 | by ( Phil Rosen | ) www.businessinsider.com time to read: +4 min

The job market is clearly starting to slow down. Mohamed El-Erian said March's jobs report was a win-win for both the stock market and the Fed. "We are making this transition where the stock market was obsessed with interest-rate risk to one that is concerned about credit risk." What's your take on the latest job data? In other news:Traders works on the trading floor at the New York Stock Exchange (NYSE) in New York City, U.S., March 5, 2020.

☆ Stock futures rise slightly ahead of key inflation data and the kickoff of earnings season: Live updates
▼ + stars: | 2023-04-09 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

U.S equity futures rose slightly Sunday evening as investors looked ahead to key inflation data and the start of first-quarter earnings season. Futures tied to the broad market S&P 500 rose 0.2% and Dow Jones Industrial Average futures edged up 62 points, or 0.2%. The market was volatile as economic data showed signs of a weakening labor market. The March jobs report on Friday showed a resilient economy and moderate inflation, however, which pushed stock futures and Treasury yields higher. "It's still probably a toss-up as to whether the Fed hikes by another 25 basis points at its next meeting and stands pat; the next set of inflation data will probably be the deciding factor."

☆ March's banking chaos gave short sellers their biggest profits since the financial crisis
▼ + stars: | 2023-04-06 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

NEW YORK, NEW YORK - MARCH 15: Traders work on the floor of the New York Stock Exchange during morning trading on March 15, 2023 in New York City. Short sellers were sitting on more than $7 billion in profit from the mass sell-off of bank shares by the end of March, their largest windfall since the global financial crisis in 2008, according to data firm Ortex. The collapse of Silicon Valley Bank and the emergency rescue of Credit Suisse by domestic rival UBS headlined a chaotic month for the global banking sector. Hedge funds shorting bank stocks were sitting on a total of $7.25 billion in unrealized gains over the course of the month, according to Ortex. "ORTEX data shows that March was the single most profitable month for short sellers in the banking sector since the 2008 financial crash," company co-founder Peter Hillerberg said Thursday.

☆ TD world's most shorted banking stock, shares down -ORTEX data
▼ + stars: | 2023-04-05 | by ( Maiya Keidan | ) www.reuters.com time to read: +2 min

Around 4.1% of TD's outstanding shares were out on loan to hedge funds, while the second-most shorted bank stock, JP Morgan , only had $2.3 billion worth of shorts, showed the data. Hedge funds profit when they borrow a stock from an institutional investor and sell it back when the price falls, pocketing the difference, a practice known as short-selling. Turmoil in the banking sector began last month with the collapse of regional banks Silicon Valley Bank and Signature Bank, sparking a crisis of confidence. TD shares are down 15.7% since the beginning of the regional bank crisis and down 3.4% this week. Around 2.9% of BMO's outstanding shares were out on loan to hedge funds, or about $1.8 billion.

☆ TD world's most shorted banking stock, ORTEX data shows; shares fall
▼ + stars: | 2023-04-05 | by ( Maiya Keidan | ) www.reuters.com time to read: +2 min

☆ As Wall Street turns bearish on the U.S., here's where the pros say to invest
▼ + stars: | 2023-04-04 | by ( Zavier Ong | ) www.cnbc.com time to read: +6 min

Within Europe, Goldman prefers companies in value sectors that pay dividends , as well as select defensive and growth stocks in the market. Emerging markets Several Wall Street analysts are putting their money on emerging markets, with most bullish on China, the world's second-largest economy. While the bank expects just 1% earnings growth for emerging market stocks, it said the sector's valuation looks attractive at a 23% discount to global peers. Philip Blancato, CEO at Ladenburg Thalmann Asset Management, is also bullish on emerging markets. He added that the case for adding to emerging market allocations is growing, particularly given the "near guarantee" of a softer dollar in the short- to medium-term.

☆ Here's what history indicates is in store for U.S. and global stocks in April
▼ + stars: | 2023-04-03 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

According to CNBC Pro's analysis of S & P 500 index data on FactSet dating back to 1928, if there is a rebound in the first quarter following a down year for S & P 500, the index rises 78% of the time in April. Historically, when the S & P 500 does rise under these conditions, it delivers an average return rate of around 3%. Global stocks The MSCI World Index , which captures over 1,500 large and mid-cap stocks across 23 developed countries, tends to perform very similarly to its large U.S. benchmark peer in the month of April. However, the index offers lower volatility compared to the S & P 500. — MSCI derived data for the World index before 1986 by calculating how the index might have performed over that period had the index existed.

☆ 5 alarming stats on U.S. economic inequality in Pulitzer-prize winning author's new book
▼ + stars: | 2023-03-28 | by ( Annie Nova | ) www.cnbc.com time to read: +3 min

(Desmond's findings are based on data from a number of sources, including the U.S. Bureau of Labor Statistics and the Pew Research Center.) (Desmond analyzed tax data from a number of sources, including the Office of Management and Budget.) watch now"Most families who enjoy those subsidies have six-figure incomes and are white," Desmond writes. "There is growing evidence that America harbors a hard bottom layer of deprivation, a kind of extreme poverty once thought to exist only in faraway places of bare feet and swollen bellies," Desmond writes. Racial wealth gap is as large as in the '60sLooking at the work of other authors and Federal Reserve data, Desmond found that the racial wealth gap is as wide today as it was more than five decades ago.

☆ Hindenburg shorts Jack Dorsey's payments firm Block, shares plunge
▼ + stars: | 2023-03-23 | by ( ) www.reuters.com time to read: +2 min

[1/2] The logo of Cash App is seen at the main hall during the Bitcoin Conference 2022 in Miami Beach, Florida, U.S. April 6, 2022. REUTERS/Marco BelloMarch 23 (Reuters) - Hindenburg Research on Thursday disclosed short positions in Block Inc (SQ.N) and alleged that the Jack Dorsey-led payments firm overstated its user numbers and understated its customer acquisition costs. Shares of Block slid 20% to $57.85 in premarket trading following the report. Hindenburg added that Block "obfuscates" how many individuals are on the Cash App platform by reporting misleading "transacting active" metrics filled with fake and duplicate accounts. Founded in 2017 by Nathan Anderson, Hindenburg is a forensic financial research firm that analyses equity, credit and derivatives.

☆ ‘Chaos creates opportunities’: Strategist says to look beyond the SVB fallout — and names his top picks
▼ + stars: | 2023-03-15 | by ( Zavier Ong | ) www.cnbc.com time to read: +3 min

Markets calmed somewhat Tuesday, and Kenny Polcari, chief market strategist at SlateStone Wealth, believes the worst of the equity sell-off is over. "There's a lot of damage done to some of these stocks and they're going to need to rebalance. You need health care, you need consumer staples, you need energy. So yes, I think there are opportunities certainly in the health care space that are good dividend payers as well," he said. While the stock is not a "big sexy tech name," it is a "solid, great drug name," according to Polcari.

See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates would impact your monthly payments. 30-Year Fixed Mortgage RatesThe current average 30-year fixed mortgage rate is 6.73%, according to Freddie Mac. 15-Year Fixed Mortgage RatesThe average 15-year fixed mortgage rate is 5.95%, an increase from the prior week, according to Freddie Mac data. Mortgage rates started ticking up from historic lows in the second half of 2021 and increased significantly in 2022. Inflation remains elevated, but has started to slow, which is a good sign for mortgage rates and the broader economy.

☆ Moody's Analytics' Mark Zandi says Fed unlikely to hike rates in March given banking turmoil
▼ + stars: | 2023-03-15 | by ( Sumathi Bala | ) www.cnbc.com time to read: +3 min

"I think they're going… [to] decide not to raise interest rates at the meeting next week." Inflation 'moderating'The Fed's calculation on interest rates could get complicated as the U.S. economy continues to fight high inflation. Bank downgradeOn Tuesday, Moody's Investors Service cut its view on the entire U.S. banking system from stable to negative. But he noted the move make sense in the context of higher interest rates, which could put pressure on the banking system. Still, at the fundamental level, the economist believes the U.S. banking system is in a "pretty good spot."

☆ If you want to be defensive, look for strong balance sheets, says B. Riley's Art Hogan
▼ + stars: | 2023-03-14 | 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 EmailIf you want to be defensive, look for strong balance sheets, says B. Riley's Art HoganArt Hogan, B. Riley Wealth Management, joins 'Power Lunch' to discuss the Consumer Price Index data and whether the Fed has managed to finally get a grip on inflation.

☆ Stock futures are flat following Tuesday's bank stock comeback: Live updates
▼ + stars: | 2023-03-14 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York, October 7, 2022. Stock futures were flat in overnight trading after Tuesday's comeback rally in bank shares. Futures tied to the Dow Jones Industrial Average dipped 30 points, while S&P 500 futures and Nasdaq 100 futures traded flat. First Republic and other banking shares rose in overnight trading, building on Tuesday's recovery, while shares of homebuilder Lennar added 3% on positive earnings results. Financials got a 2.2% boost, thanks to a comeback in banking stocks as investors bet on the sector's resilience despite the collapse of Silicon Valley Bank and Signature Bank.

☆ NY Fed report shows near-term inflation expectations retreating sharply
▼ + stars: | 2023-03-13 | by ( Michael S. Derby | ) www.reuters.com time to read: +4 min

Meanwhile, the expected level of inflation three years from now held steady at 2.7%, matching the level last seen in October 2020, while expected inflation five years from now was seen hitting 2.6%, up from January's 2.5%. The New York Fed survey arrived just ahead of the Fed's March 21-22 policy meeting. The New York Fed report was conducted ahead of the SVB situation and does not reflect its impact. Households last month saw declining price pressures for gasoline, food, rent, medical care and college. But the New York Fed noted that last month's reading remains well below the 12-month average of an expected 3.4% rise in home prices.

☆ Judge concerned Sam Bankman-Fried is too ‘technologically savvy,’ could find a way around tech restrictions
▼ + stars: | 2023-03-10 | by ( Lauren Del Valle | ) edition.cnn.com time to read: +2 min

CNN —United States District Judge Lewis Kaplan indicated at a hearing Friday he might modify FTX founder Sam Bankman-Fried’s bail conditions, but only after attorneys further tighten the restrictions on Bankman-Fried’s access to technology. Kaplan said he’s still not convinced that the founder of bankrupt crypto trading platform FTX wouldn’t be able to circumvent the more-restrictive bail conditions that were filed last week. “If he’s determined and inventive and I suspect he’s very inventive and technologically savvy he could find a way around it and conceivably not get caught,” Kaplan said in court Friday. Bankman-Fried, who did not attend Friday’s hearing, is currently under house arrest at his parents’ home in Palo Alto, Calif. Judge Kaplan asked the defense to submit an updated bail modification order that would tighten the restrictions to address his concerns.

☆ How to Read Your Pay Stub
▼ + stars: | 2023-03-09 | by ( ) www.wsj.com time to read: +14 min

So residents of these states may have to work a little harder to track their earnings if their employer elects to forgo sharing pay stub documents. Only residents of California, Hawaii, New York, Rhode Island, New Jersey, and Puerto Rico will see this on their pay stub, according to Greene-Lewis. 10. pretax DeductionsDepending what workplace benefits are offered by your company and which ones you’ve elected to participate in, you may see pretax or before-tax deductions listed on your pay stub in addition to the various taxes you must pay. There is also another kind of common FSA you might be contributing to that could appear on your pay stub: the dependent-care FSA. Any after-tax withholding your employer makes should be noted on the pay stub.

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