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☆ Fed's preferred inflation indicator rises slightly more than expected at 4.7%
▼ + stars: | 2022-12-23 | by ( Rick Santelli | ) 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's preferred inflation indicator rises slightly more than expected at 4.7%CNBC's Rick Santelli joins 'Squawk Box' to break down the latest personal consumption expenditures price index data.

☆ Your Equifax settlement payment won't be $125 because too many people wanted the money
▼ + stars: | 2022-12-21 | by ( Rebecca Cohen | ) www.businessinsider.com time to read: +3 min

Equifax started sending out payments to people affected by its massive 2017 data breach. But, as consumers quickly realized, the settlement payments are way less than the expected $125 per consumer. People have gotten as little as $5.21 because of the sheer number of people who filed claims for the money. Equifax started distributing settlement payments Monday to US consumers whose data was breached as a part of the 2017 Equifax Data Breach. Equifax agreed to a $700 million settlement over the privacy breach, but $425 million of that was set aside to repay consumers as a restitution fund.

☆ Weaponizing Tax Returns
▼ + stars: | 2022-12-17 | by ( The Editorial Board | ) www.wsj.com time to read: 1 min

Many norms have been broken in American politics in recent years, and one of them is the use of private tax returns as a political weapon. The trend is destructive, as a pair of events this week illustrate. The first is a useful lawsuit by hedge-fund manager Ken Griffin against the Internal Revenue Service seeking damages for the leak of his tax records to ProPublica. In June 2021 and in articles since, the left-wing website has published the confidential tax data of Mr. Griffin, who runs Citadel Securities, and other wealthy Americans.

☆ Mortgage rates drop for fifth week in a row
▼ + stars: | 2022-12-15 | by ( Anna Bahney | ) edition.cnn.com time to read: +5 min

Washington, DC CNN —Mortgage rates fell once again this week, dipping for the fifth straight week. But mortgage rates have tumbled in the last several weeks, following data that showed inflation may have finally reached its peak. The rate hike was already factored in to where mortgage rates are, but signaled more good news on inflation. Mortgage rates tend to track the yield on 10-year US Treasury bonds. Mortgage applications tick upFor people looking to buy a home, and homeowners wanting to sell, the retreat in mortgage rates over the past several weeks has been welcome.

☆ Billionaire Ken Griffin sues the IRS after his tax records were disclosed
▼ + stars: | 2022-12-13 | by ( Robert Frank | ) www.cnbc.com time to read: +3 min

ProPublica used IRS tax data provided by an anonymous source, and it's unclear how the data was obtained. Griffin reported an average income of $1.7 billion from 2013 to 2018, ProPublica said, citing his tax returns. Griffin was not listed as one of the billionaires who paid zero or low tax rates in any one year, and, in fact, the ProPublica tax information showed Griffin pays a higher effective tax rate than many top earners. The leaked tax returns sparked an uproar in Washington, which continues to escalate. "IRS employees deliberately stole the confidential tax returns of several hundred successful American business leaders," Griffin said in a statement.

☆ Treasury yields dip as investors look ahead to Fed meeting, key inflation data
▼ + stars: | 2022-12-12 | by ( Sophie Kiderlin | ) www.cnbc.com time to read: +1 min

ET, the yield on the 10-year Treasury note was down by just over two basis points to 3.5433%. The 2-year Treasury yield was almost flat and was last trading at 4.3294% after dipping by less than a basis point. U.S. Treasury yields fell slightly on Monday as investors awaited the start of the Federal Reserve's December meeting and consumer inflation figures due to be released this week. Investors are widely expecting officials to increase interest rates by 50 basis points, marginally slowing down the pace of rate hikes after four consecutive 75 basis point increases. Investors will be scanning the data for insights into whether the Fed's rate hikes have been effective in pushing back against rising prices.

☆ The Fed will raise rates again. But it’s playing with fire
▼ + stars: | 2022-12-11 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +5 min

New York CNN —The Federal Reserve is all but guaranteed to announce Wednesday that it will once again raise interest rates. The Fed bumped up rates by three-quarters of a percentage point in the past four meetings (June, July, September and November). The more widely watched Consumer Price Index data for November comes out Tuesday, just a day before the Fed announcement. Jones still thinks the Fed will raise rates by only half a point this week and may look to hike them just a quarter point in early 2023. It seems likely that the Fed will cut its GDP target and raise its expectations for the jobless rate and consumer prices.

☆ U.S. producer prices increase in November; trend slowing
▼ + stars: | 2022-12-09 | by ( Lucia Mutikani | ) www.reuters.com time to read: +4 min

The report from the Labor Department on Friday also showed underlying producer prices increasing at their slowest pace since April 2021 on a year-on-year basis. "Easing producer prices foreshadow an improving inflation environment," said Jeffrey Roach, chief economist at LPL Financial in Charlotte, North Carolina. However, the monthly increase in producer prices illustrates the need for continued tightening." A 3.3% increase in food prices was offset by a 3.3% drop in energy costs. Excluding the volatile food, energy and trade services components, producer prices gained 0.3% in November.

The major bourses in Europe also declined as concerns mounted about a global slowdown before a raft of major central bank rate decisions next week. The dollar gained against the euro, yen, British pound and Canadian dollar, among other major currencies. Treasury yields fell, but more at the long end of maturities than the short end, which deepened the inverted yield curve, a market indicator of a looming recession. The dollar rose as investors waited for next week's expected 50 basis points rate hike by the Fed. Euro zone government bond yields fell after two European Central Bank officials signaled inflation and rates may be close to peaking in the run-up to a raft of major central bank decisions.

☆ Dollar little changed after previous day's jump; investors look to Fed next week
▼ + stars: | 2022-12-06 | by ( ) www.cnbc.com time to read: +2 min

Data Monday showing that U.S. services industry activity unexpectedly picked up in November prompted speculation the Fed may lift interest rates more than recently projected. "There was a lot of price action yesterday, and we're just consolidating that," with the big focus on next week's Fed meeting. The euro was flat against the dollar at $1.0492, while the dollar was down 0.1% against the Japanese yen. European Central Bank policymaker Constantinos Herodotou said on Tuesday interest rates will go up again but are now "very near" their neutral level. The dollar was up 0.6% against the Canadian dollar ahead of the Bank of Canada's rate decision Wednesday.

☆ Bond Rally Drags 10-Year Treasury Yield Back Down to 3.5%
▼ + stars: | 2022-12-05 | by ( Sam Goldfarb | ) www.wsj.com time to read: 1 min

Hopes that inflation is easing have driven a weekslong rally in government bonds, pulling the 10-year U.S. Treasury yield back to 3.5% for the first time since September. Treasurys started rallying with stocks after the Labor Department released better-than-expected consumer-price index data on Nov. 10. That move was supercharged last week when Federal Reserve Chairman Jerome Powell sent the clearest signal yet that the central bank plans to raise short-term interest rates by half a percentage point at its Dec. 13-14 meeting, a step down from the 0.75 percentage point increases of the past four meetings.

☆ From turkeys to booze, prices for these 25 popular holiday expenses increased the most since last year
▼ + stars: | 2022-12-02 | by ( Mike Winters | ) www.cnbc.com time to read: +2 min

As the holiday season gets into full swing, expect some sticker shock. The cost of most holiday staples, such as turkey and booze, has increased dramatically in the last year. With year-over-year inflation up 7.7% overall, most items bought over the holidays have increased in price. The study identified 40 commonly purchased holiday items across four categories: gifts, experiences, travel and entertaining. As of October, the average American spends an extra $433 per month on expenses, compared with a year ago, according to an estimate from Moody's Analytics.

☆ New subvariants, family gatherings may bring more Covid-19 after holiday, but experts don’t expect severe surge
▼ + stars: | 2022-11-24 | by ( Brenda Goodman | ) edition.cnn.com time to read: +9 min

Experts expect that Thanksgiving gatherings will stir up social networks and give new coronavirus subvariants fresh pockets of vulnerable people to infect. And we are concerned that after holiday gathering, lots of people coming together, that we may see increases in Covid-19 cases as well,” Dr. Rochelle Walensky, director of the US Centers for Disease Control and Prevention, said Tuesday on CNN. For the week ending Nov. 19, the CDC estimates that BQ.1 and BQ.1.1 were causing about half of all new Covid-19 cases in the US. Covid-19 cases, hospitalizations and deaths have remained flat for the past four weeks. “It’s probably got a bit more of a fitness advantage, so what we’re seeing is gradual replacement without a massive change in the total number of Covid-19 cases,” he said.

☆ History shows this 4th quarter rally is likely almost over
▼ + stars: | 2022-11-22 | by ( Michelle Fox | ) www.cnbc.com time to read: +1 min

Canaccord Genuity isn't expecting the S & P 500 to go much higher before year-end. "History shows any year with such a weak start through the first three quarters leads to a fourth-quarter rally with an end-of-quarter gain between 8-12%," Dwyer wrote in a note Monday. Only 2008 saw a negative fourth quarter after a similar weak start, he added. The S & P is up 10.16% so far this quarter, as of Monday's close. "The SPX closed last week in the middle of that expected outcome range suggesting no significant tactical edge into year-end," Dwyer said.

☆ Goldman’s official 2023 outlook is here: Where it thinks the market is headed and what to buy
▼ + stars: | 2022-11-22 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

Goldman Sachs is predicting zero earnings growth in 2023, with stocks ending the next year essentially flat. The firm is pegging 2023 S & P 500 earnings-per-share flat at $224 and the index ending next year at 4,000, just over 1% from Monday's close. The bank's EPS yield for the next 12 months is 14%, while its estimated EPS will decline by 12% in 2023, according to Goldman. Walgreens's EPS yield for the next 12 months is 11% and its estimated 2023 earnings growth is 2%, Goldman found. Its next-12-month EPS yield is 7% and its estimated EPS growth for 2023 is 4%, according to Goldman.

☆ Retail traders have been selling into the rally, but they are buying two tech names
▼ + stars: | 2022-11-17 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Retail traders have dumped select big-name tech stocks in the past week, making it the biggest selling week since March 2020, according to JPMorgan. The sell-off followed last month's dismal earnings week for Big Tech as companies floundered due to slides in advertising revenue. On a net basis, retail investors sold $657 million in Amazon shares and $612 million in Apple, JPMorgan found. On a net basis, retail investors sold $408 million of the chipmaker's shares in the past week, according to JPMorgan. Meanwhile, retail investors were net buyers of Alibaba , snapping up $92 million in shares in the past week.

☆ Treasury yields rise as investors digest inflation data, look to retail sales figures
▼ + stars: | 2022-11-16 | by ( Sophie Kiderlin | ) www.cnbc.com time to read: +1 min

The benchmark 10-year Treasury yield was trading at 3.8142% at around 4:00 a.m. U.S. Treasury yields inched higher on Wednesday as markets absorbed wholesale inflation data and awaited the release of retail sales data for October. October's producer price index data, released on Tuesday, showed that wholesale prices rose less than expected throughout the month. Markets broadly took this as a sign that inflation is indeed easing, as suggested by last week's consumer price index figures. Retail sales data for October is due to be released on Wednesday and will provide insights into the state of the U.S. economy and the impact of inflation on consumer demand.

☆ Toys, washing machines, doughnuts: 10 items that actually got cheaper last month
▼ + stars: | 2022-11-16 | by ( Mike Winters | ) www.cnbc.com time to read: +2 min

But the price of some items actually declined in the last month, from washing machines to jewelry to doughnuts. Inflation has cooled from a year-over-year June peak of 9.1% to 7.7% in October, so declines are expected for some items. Given the slowing economy and widespread concerns of a recession, price drops for high-end luxury items like smartphones and jewelry are to be expected, too, he says. While this is good news for shoppers, most items with price declines in October are still more expensive than they were last year. For instance, prices for washers and dryers declined by 7.8% last month, but they are still up 1.5% compared to last October.

☆ Charts suggest the market could rally through mid-December, Jim Cramer says
▼ + stars: | 2022-11-15 | by ( Krystal Hur | ) www.cnbc.com time to read: +1 min

CNBC's Jim Cramer on Tuesday said that the market's current rally could last through the middle of next month, leaning on charts analysis from Jessica Inskip, OptionsPlay's director of education and product. "The charts, as interpreted by Jessica Inskip, suggest that this rally could potentially have real legs, at least through mid-December. Things could change as we get closer to the next Fed meeting a month from today, but in the meantime, there's a lot to like about this market," he said. Stocks rose on Tuesday after the October producer price index data signaled that inflation is cooling, just one week after a lighter-than-expected consumer price index report indicated that the prices of goods and services are increasing at a slower pace. In addition, the Federal Reserve's next meeting and the November consumer price index data release don't take place until next month.

☆ Jim Cramer says there's a ‘real possibility’ the Fed can engineer a soft landing
▼ + stars: | 2022-11-15 | by ( Krystal Hur | ) www.cnbc.com time to read: +1 min

CNBC's Jim Cramer on Tuesday said that he believes the Federal Reserve could manage to tamp down inflation without throwing the economy into a recession. It helps that we've finally worked out the kinks in the supply chain that were creating shortages all over the place. Put it all together, and there's a real possibility the Fed can indeed engineer that fabled soft landing for the economy," he said. Stocks rose on Tuesday after October producer price index data indicated that inflation is cooling, just one week after a lighter-than-expected consumer price index report spurred a rally. "That's good for Ollie 's, great for TJX … terrific for the consumer, amazing for the Fed, and therefore perfect for investors.

☆ INDIA STOCKS Indian shares may edge higher as inflation eases
▼ + stars: | 2022-11-15 | by ( ) www.reuters.com time to read: +2 min

BENGALURU, Nov 15 (Reuters) - Indian shares are expected to open slightly higher on Tuesday, as data showing annual retail inflation eased to a three-month low in October strengthened bets of smaller interest rate hikes from the country's central bank. Globally, investors will get another look at U.S. inflation when the producer price index data is released later in the day. ** Tyremaker Apollo Tyres (APLO.NS) reported a rise in quarterly profit. ** Biocon (BION.NS) reported a decline in quarterly profit as the drugmaker booked a heavy tax expense. ** Indian viscose and chemicals manufacturer Grasim Industries (GRAS.NS) reported a fall in quarterly profit, with brokerage Jefferies saying global slowdown weighed on earnings.

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was up 0.1%, following mild losses for U.S. overnight. Australian shares (.AXJO) lost 0.28%, while Japan's Nikkei stock index (.N225) was off 0.16%. In Hong Kong, the Hang Seng Index (.HSI) was flat while China's CSI300 Index (.CSI300) was down 0.3%. Some Chinese cities have begun cutting routine community testing, days after China announced an easing of some of its heavy-handed coronavirus measures. China reported 17,909 new COVID-19 infections on Nov. 14 compared with 16,203 a day earlier.

☆ We just got another strong sign inflation is cooling off
▼ + stars: | 2022-11-15 | by ( Madison Hoff | ) www.businessinsider.com time to read: +3 min

Producer Price Index data out Tuesday shows another sign that inflation is cooling. October's rise marks another month of PPI for final demand falling below the previous year-over-year increase; October's year-over-year increase of 8.0% falls below the 8.4% increase seen in September. Looking at month-over-month data, PPI increased 0.2% over the month in October, like it did in September, based on seasonally adjusted figures. With both showing signs of cooling, PPI and CPI data together show that the worst of inflation could be over. The Dow also saw a massive rise on November 10, the day of the release of October's CPI data.

☆ Producer prices grow by 8% in October, less than expected
▼ + stars: | 2022-11-15 | 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 EmailProducer prices grow by 8% in October, less than expectedCNBC's Rick Santelli joins 'Squawk Box' to break down October's producer price index data, which came in less than expectations.

☆ The Fed could pause its interest rate hikes right now, says Wharton's Jeremy Siegel
▼ + stars: | 2022-11-15 | 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 EmailThe Fed could pause its interest rate hikes right now, says Wharton's Jeremy SiegelJeremy Siegel, professor of finance at the University of Pennsylvania's Wharton School of Business, joins CNBC's 'Squawk Box' to react to October's producer price index data.

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