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☆ FTC seeks to hold Drizly CEO accountable for alleged security failures, even if he moves to another company
▼ + stars: | 2022-10-24 | by ( Lauren Feiner | ) www.cnbc.com time to read: +3 min

In a new proposed settlement, the Federal Trade Commission is seeking to hold a tech CEO accountable to specific security standards, even if he moves to a new company. The FTC claims that despite being alerted to the security concerns two years before the breach, Drizly and Rellas did not do enough to protect their users' information. In a statement, Wilson wrote that naming Rellas will not result in putting "the market on notice that the FTC will use its resources to target lax data security practices." But it later dropped him from the complaint after the company said Zuckerberg would not try to personally buy Within. "We take consumer privacy and security very seriously at Drizly, and are happy to put this 2020 event behind us," a Drizly spokesperson said in a statement.

☆ Jerome Powell and the Fed's 'band of lunatics' are getting inflation all wrong and their actions will break trust in capitalism, billionaire investor Barry Sternlicht says
▼ + stars: | 2022-10-24 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Powell as his "band of lunatics" have gotten inflation all wrong, Barry Sternlicht told Fortune. He criticized the Fed's delayed response on inflation and for reacting to lagging indicators. Its actions could result in a policy error that breaks trust in capitalism, he warned in the interview. I think they're just wrong," he said, slamming the Fed's inflation response an interview with Fortune on Friday. "You're going to have social unrest ... And it's just because of Jay Powell and his band of lunatics," he added.

☆ Sunflowers, war and drought: Why the price of margarine and butter spiked 32%
▼ + stars: | 2022-10-17 | by ( Greg Iacurci | ) www.cnbc.com time to read: +6 min

Margarine prices swelled by about 4% in the month from August to September, meaning they've continued to trend upward in the short term. 1 producer and exporter of sunflower oil, which accounts for 9% of all vegetable oil produced globally. "Supplies of these alternatives are expected to be tight in the 2021/22 marketing year, contributing to elevated vegetable oil prices." Palm oil accounts for 35% of all vegetable oil made globally, the largest share relative to the aforementioned oil commodities. Annual oil prices — and those of its byproducts, like gasoline and diesel — skyrocketed as a result.

As inflation has grown this year and the Fed has hiked the federal funds rate, mortgage rates have increased from historic lows. 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 6.92%, according to Freddie Mac. 15-year fixed mortgage ratesThe average 15-year fixed mortgage rate is 6.09%, an increase from the prior week, according to Freddie Mac data. Inflation remains elevated, but has started to slow, which is a good sign for mortgage rates and the broader economy.

Register now for FREE unlimited access to Reuters.com RegisterIf the Fed follows through with two more 75-basis-point hikes this year, its policy rate would end 2022 in a range of 4.50%-4.75%. It is very possible that the data would come in a way that forces the (Federal Open Market) Committee higher on the policy rate. The possibility of a fifth larger-than-usual increase in December is "a little more frontloading than what I've said in the past," he added. Though some investors and economists expect the Fed will need to lift its policy rate even further, to 5% or higher, Bullard said, "I wouldn't predict that now ... Volatility in markets is to be expected when rates rise, he said, but may settle after a period of adjustment.

In a Reuters interview, Bullard said U.S. Consumer Price Index data for September released this week showed inflation had become "pernicious" and difficult to arrest, and therefore "it makes sense that we're still moving quickly." It is very possible that the data would come in a way that forces the committee higher on the policy rate. But it's also possible that you get a good disinflationary dynamic going and in that situation the committee could keep the policy rate and hold it steady," Bullard said a day after the CPI report for September showed inflation continued above 8%. read moreThe possibility of a fifth larger-than-usual increase in December is "a little more front loading than what I've said in the past," Bullard said. Register now for FREE unlimited access to Reuters.com RegisterReporting by Howard SchneiderOur Standards: The Thomson Reuters Trust Principles.

☆ The case for a 'powerful rally' in the stock market is building, MKM Partners says
▼ + stars: | 2022-10-14 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

A powerful counter-trend rally could be on the horizon, but may not come immediately, according to MKM Partners. "Look for any prospective or actual softness in the laggards to help to pull down peak policy rate expectations and Treasury yields." But before the market began rallying, the S & P 500 touched a new 52-week low earlier in the day. "Unfortunately, in each of these episodes, there was still equity market weakness ahead." Meanwhile, the starting point for the equity market decline in 2022 was "exceptionally high," which he said increased concerns of a worse-than-average bear market now.

☆ Jim Cramer gives his take on the September CPI report
▼ + stars: | 2022-10-14 | 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 EmailJim Cramer gives his take on the September CPI reportCramer on Friday explained his thoughts on the consumer price index data for September.

☆ 'Food at home' prices are up 13% from last year: Here are 4 ways to save on groceries
▼ + stars: | 2022-10-14 | by ( Annie Nova | ) www.cnbc.com time to read: +3 min

Still, there are a number of strategies you can use to reduce your food costs, experts say. Prices of "food at home," aka groceries, soared 13% from the same time in 2021. Meanwhile, shopping with a grocery list probably won't prevent all your impulse buys, but that doesn't mean you shouldn't use one. Take a look at your grocery list before you decide where to do your buying, said Erin Clarke, author of The Well Plated Cookbook. Then, try to find the store that offers the best value on the particular items you're looking for.

☆ The Fed's interest rate path will reduce inflation, but it will cause pain, says IMF's Gita Gopinath
▼ + stars: | 2022-10-13 | 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's interest rate path will reduce inflation, but it will cause pain, says IMF's Gita GopinathGita Gopinath, first deputy managing director of the International Monetary Fund, joins CNBC's 'Squawk Box' to discuss global inflation ahead of the key consumer price index data.

☆ Treasury yields climb ahead of inflation data
▼ + stars: | 2022-10-13 | by ( Sophie Kiderlin | ) www.cnbc.com time to read: +1 min

The yield on the policy-sensitive 2-year Treasury was up by 3 basis points to 4.3184% at around 4:30 a.m. The benchmark 10-year Treasury rose to 3.9230% after gaining 2 basis points, closing in on the 4% mark for the second time in recent weeks. Treasury yields rose on Thursday as markets braced themselves for the release of September's consumer price index data, while still digesting the hotter-than-predicted producer price index report. Fed speakers have struck a hawkish tone ahead of their next meeting on Nov. 1 and 2 and have said they are not satisfied with recent inflation figures. Traders are still digesting Wednesday's stronger-than-expected producer price index inflation reading.

The bounce follows five straight days of declines in the Nasdaq (.IXIC) and the benchmark S&P 500 (.SPX) as recent economic data nearly sealed a case for a fourth consecutive 75-basis-point hike by the Fed. The Labor Department's producer prices index data due at 8:30 a.m. ET is expected to have risen 8.4% in the 12 months through September, after advancing 8.7% in August. Register now for FREE unlimited access to Reuters.com RegisterStubborn inflation has sparked worries about the Fed's aggressive monetary action tipping the world's largest economy into a recession. ET, Dow e-minis were up 118 points, or 0.4%, S&P 500 e-minis were up 20.5 points, or 0.57%, and Nasdaq 100 e-minis were up 85.25 points, or 0.79%.

☆ 2-year Treasury yield dips ahead of inflation data
▼ + stars: | 2022-10-12 | by ( Sophie Kiderlin | ) www.cnbc.com time to read: +1 min

The 2-year Treasury dropped by 2 basis points to 4.2953% at around 4:30 a.m. The benchmark 10-year Treasury held steady and was last trading at 3.9289%, down by a basis point. The yield on the policy-sensitive 2-year Treasury note dropped on Wednesday as markets awaited the release of September's producer price index inflation figures, which are likely to affect future Federal Reserve policy and interest rate hikes. September producer price index data, which measures wholesale prices of goods, is expected on Wednesday. Investors will look at the numbers for signs of whether the Federal Reserve's interest rate hikes are working as a measure to throttle persistent inflation.

☆ Economists think one key inflation measure is headed back to a 40-year high, much to the chagrin of the Fed
▼ + stars: | 2022-10-12 | by ( Ben Winck | Madison Hoff | ) www.businessinsider.com time to read: +4 min

Economists expect core inflation — which removes food and energy costs — to rebound in September. An increase would make it even harder for the Fed to fight inflation without pulling the US into a recession. Should the projection prove correct, that will place core inflation back at the March peak and the fastest pace since 1981. Core inflation, meanwhile, rose in August to 6.3% from 5.9%, kickstarting the divergence that's expected to continue into the fall. Whether the September inflation data surprises to the upside or shows price growth slowing more than expected, either outcome is unlikely to change the Fed's plans.

☆ Wholesale prices rise 0.4% in September, higher than expectations
▼ + stars: | 2022-10-12 | 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 EmailWholesale prices rise 0.4% in September, higher than expectationsCNBC's Rick Santelli and Steve Liesman join 'Squawk Box' to break down September's producer price index data.

☆ S&P 500, Nasdaq end lower; BoE comments add to market jitters late
▼ + stars: | 2022-10-11 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

Trading was volatile, with investors cautious ahead of key U.S. inflation data and the start of third-quarter earnings later this week. The S&P banks index (.SPXBK) was down 2.6% ahead of quarterly results from some major banks later this week. The reports are expected to kick off the third quarter reporting period for S&P 500 companies. read moreDeclining issues outnumbered advancing ones on the NYSE by a 1.50-to-1 ratio; on Nasdaq, a 1.51-to-1 ratio favored decliners. The S&P 500 posted one new 52-week high and 104 new lows; the Nasdaq Composite recorded 33 new highs and 590 new lows.

☆ Dow, S&P 500 rise after recent losses; investors prepare for inflation, earnings data
▼ + stars: | 2022-10-11 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

Register now for FREE unlimited access to Reuters.com RegisterInvestors were anxiously awaiting the producer price index report Wednesday and consumer price index data on Thursday. "A few investors might be trying to bet on a better-than-expected inflation report," said Paul Nolte, portfolio manager at Kingsview Investment Management in Chicago. The S&P bank index (.SPXBK) was down 1.1% ahead of quarterly results from some major banks later this week. The reports are expected to kick off the third-quarter reporting period for S&P 500 companies. The S&P 500 posted one new 52-week high and 95 new lows; the Nasdaq Composite recorded 19 new highs and 517 new lows.

☆ US stocks trade mixed as investors struggle to regain momentum ahead of earnings deluge and inflation data
▼ + stars: | 2022-10-11 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

US stocks ended mixed Tuesday ahead of a slew of corporate earnings and key inflation data. The S&P 500 notched its fifth straight loss and the Nasdaq dropped more than 1%. Stocks could see another 5% sell-off Thursday if September inflation clocks in above 8.3%, JP Morgan warned. The S&P 500 saw its fifth-day of straight losses. Thursday's inflation report will be a key moment for US stocks, JPMorgan said Tuesday in a note.

☆ Nasdaq closes at 2-year low on Monday, hurt by slumping chip stocks
▼ + stars: | 2022-10-10 | by ( Carmen Reinicke | Alex Harring | ) www.nbcnews.com time to read: +5 min

Stocks closed lower on Monday with the Nasdaq Composite index falling to the lowest level in two years as tech shares continue to be the hardest hit in this bear market because of spiking interest rates. The Nasdaq Composite closed 1.04% lower at 10,542.10, hitting its lowest close since July 2020, weighed down by a slump in semiconductor stocks such as Nvidia and AMD. September Producer Price Index data comes Wednesday and Consumer Price Index data is scheduled for Thursday. The Nasdaq Composite closed 1.04% lower at 10,542.10, hitting its lowest close since July 2020, weighed down by a slump in semiconductor stocks such as Nvidia and AMD. September Producer Price Index data comes Wednesday and Consumer Price report is scheduled for Thursday.

☆ Jim Cramer says market rallies will have a ‘short shelf-life’ until the Fed beats inflation
▼ + stars: | 2022-10-10 | by ( Krystal Hur | ) www.cnbc.com time to read: +1 min

CNBC's Jim Cramer on Monday warned that any market rally will be temporary until the economy cools down. Stocks fell on Monday ahead of the release of producer price index and consumer price index data later this week, which will shed more light on the state of inflation. Markets have been roiled in 2022 due to skyrocketing inflation, the Federal Reserve's interest rate hikes, Russia's invasion of Ukraine and recession fears. Yet the market still has a ways to go before it will bottom, according to Cramer. He previously said that inflation needs to ease in three key areas for the Fed to stop wreaking havoc on the market.

☆ Social Security's cost-of-living increase for 2023 would be largest in 40 years. Here's what that means for benefits
▼ + stars: | 2022-10-10 | by ( Lorie Konish | ) www.cnbc.com time to read: +2 min

Retirees who are confronting higher prices due to record high inflation may get some welcome news this week when the Social Security Administration announces the cost-of-living adjustment for 2023. The Senior Citizens League, a nonpartisan senior group, estimated last month that the COLA could be 8.7% next year. "These are just estimates," which means the official change for 2023 could come in higher or lower, said Mary Johnson, Social Security and Medicare policy analyst at The Senior Citizens League. The Senior Citizens Leagues' estimate pointed to a higher 10.5% bump to benefits next year based on June data. The annual COLA applies to both Social Security and Supplemental Security Income benefits.

Stocks fell Monday morning as a change to U.S. export policy hit semiconductor stocks. The Nasdaq Composite fell 0.84%, hitting a new two-year low, weighed down by a slump in semiconductor stocks such as Marvell Technology and Applied Materials, which both shed more than 5%. The S&P 500 also fell, dragged down by semi stocks and dips in major tech names Apple and Microsoft. New monthly Producer Price Index data comes Wednesday,Consumer Price Index data comes Thursday and retail sales will be released Friday. Still, the Dow, S&P 500 and Nasdaq had the first positive week in the last four.

☆ As Biden vows to 'protect' Social Security, here's what we know about the future of benefits
▼ + stars: | 2022-09-29 | by ( Lorie Konish | ) www.cnbc.com time to read: +6 min

"I want to save Social Security, Medicare and Veterans benefits." A spokeswoman for Scott pointed to a recent interview where he said his plan would help make sure people get their Social Security benefits. Specific plans from both parties are needed to secure the future of both Social Security and Medicare, she said. Due to high inflation, estimates show the Social Security cost-of-living adjustment is poised to be the highest in decades, according to The Senior Citizens League. One more month of consumer price index data will come in before the official bump for next year is announced by the Social Security Administration.

☆ Asia-Pacific markets inch lower as investors weigh Fed hike
▼ + stars: | 2022-09-23 | by ( Abigail Ng | ) www.cnbc.com time to read: +1 min

An electronic board displays stock information at the Australian Securities Exchange, operated by ASX Ltd., in Sydney, Australia, on Tuesday, Feb. 6, 2018. Asia-Pacific shares slipped on Friday as investors continue to weigh the Federal Reserve's aggressive stance. In Australia, the S&P/ASX 200 opened slightly higher but gave up gains to fall 1.16% on its return to trade after a holiday on Thursday. MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.18%. On Wall Street overnight, stocks fell for a third consecutive day over recession fears following the Fed's latest 75-basis-point rate hike.

☆ Here’s why understanding de-risking is key as the Fed readies another rate hike and earnings loom
▼ + stars: | 2022-09-21 | by ( Zev Fima | ) www.cnbc.com time to read: +8 min

Put another way, this hike has been de-risked but additional aggressive rate increases in the near term likely have not. The market wants to understand at what terminal rate the Fed will hold. If the Fed goes with a 75-basis-point hike Wednesday, that would bring the target range for the central bank's key fed funds rate to 3%-3.25%. On that note, current estimates for S & P 500 earnings are roughly $222 in 2022 and $240 for 2023. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

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