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☆ Here's why Mizuho's Dan Dolev doesn't favor Coinbase
▼ + stars: | 2024-03-12 | 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 EmailHere's why Mizuho's Dan Dolev doesn't favor CoinbaseDan Dolev, Mizuho fintech equity research analyst, joins 'The Exchange' to discuss ADP's stock valuation, Coinbase's role in the crypto ecosystem, and more.

Persons: Dan Dolev doesn't, Dan Dolev Organizations: Mizuho

☆ 4 economic reports the market cares about most next week, including a fresh look at inflation
▼ + stars: | 2024-03-09 | by ( Zev Fima | ) www.cnbc.com time to read: +8 min

Within the Club, we heard this week from Foot Locker on Wednesday, then from Costco and Broadcom on Thursday. The big economic data drop of the week arrived Friday with February's nonfarm payrolls report . The center of attention is Tuesday's February consumer price index report . On Thursday, the February produce price index is due out. ET: Producer Price Index 8:30 a.m.

Persons: FactSet, Locker, Foot Locker, February's nonfarm, Jerome Powell, he's, we'll, MANU, LEN, Jim Cramer's, Jim Cramer, Jim, Mostafa Bassim Organizations: Nasdaq, Dow Jones Industrial, Costco, Broadcom, Commerce, Federal, PPI, Ballard Power Systems, Fortrea Holdings, Casey's, Vail Resorts, MTN, Daniels, Midland, Kohl's Corporation, Kanzhun, Game Technology, Manchester United, Blade Air Mobility, Clover Health, Beauty Health, Energy Vault Holdings, PHX Minerals, Guild Holdings, Finance, Heron Therapeutics, ZIM Integrated Shipping Services, Arcos Dorados Holdings, ARCO, Petco, Wellness Company, Farms, Sonoma, WSM, ESS Tech, DICK'S Sporting, Inc, Futu Holdings, Bear, Autolus Therapeutics, III Apparel, Solo Brands, Weibo Corporation, Embraer, CNBC, Washington DC, Anadolu, Getty Locations: U.S, Asana, ASAN, Williams, Washington, United States

☆ What to expect in Friday’s jobs report
▼ + stars: | 2024-03-07 | by ( Alicia Wallace | ) edition.cnn.com time to read: +9 min

New York CNN —Don’t be surprised if Friday’s jobs report shows that February’s employment gains were far below those reported for January. In fact, it would continue a history-making stretch of labor market expansion. Friday’s jobs report could very well provide a more reliable read on what’s actually happening in the labor market than the jobs reports of recent months’ past, Julia Pollak, chief economist at ZipRecruiter, told CNN. “And so, February might give us a better understanding of the underlying rate of job growth,” she said. What the other labor market data is showingOther economic data released this week reinforces the idea that the US labor market is cooling but remains on solid footing.

Persons: New York CNN — Don’t, Julia Pollak, autoworkers, what’s, hasn’t, Nixon, ” Ron Hetrick, Gus Faucher, stayers ”, Faucher, ”, ” Nela Richardson, outplacement, ” Andrew Challenger, Lydia Boussour, EY, “ Organizations: New, New York CNN, CNN, of Labor Statistics, PNC Financial Services, BLS, Labor, Boomers, ADP, Challenger, ”, Labor Department Locations: New York, US

Federal Reserve Chairman Jerome Powell stuck to his script that it is not yet time to begin cutting interest rates on Wednesday in the first of two appearances this week on Capitol Hill. The Fed has taken interest levels to their highest in decades in a battle to bring inflation down to the central bank’s 2% annual target. “The labor market remains relatively tight, but supply and demand conditions have continued to come into better balance,” Powell said. Job vacancies have declined, and nominal wage growth has been easing.”Powell and other Fed officials have repeatedly said they will judge whether to begin lowering interest rates on the state of incoming economic data. In his testimony, Powell did acknowledge that interest rates are “likely” at their peak for this economic cycle.

Persons: Jerome Powell, ” Powell, Powell, ”, Lydia Boussour, EY Organizations: Capitol, Financial Services, Labor Department, ADP, Federal Reserve Bank, Atlanta’s

☆ 10-year Treasury yield inches higher as investors look to Powell testimony
▼ + stars: | 2024-03-06 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

ET, the yield on the 10-year Treasury was up by over two basis points to 4.1623%. The 2-year Treasury was last less than one basis point higher to 4.5599%. U.S. Treasury yields on Wednesday were slightly higher as investors awaited testimony about monetary policy from Federal Reserve Chairman Jerome Powell and looked to fresh economic data. Investors on Wednesday will be following testimony from Fed Chairman Powell, who is set to speak before the House Financial Services Committee. Markets were last pricing in rate cuts to begin in June, according to CME Group's FedWatch tool.

Persons: Jerome Powell, Powell, payrolls Organizations: Treasury, U.S, Federal, Financial Services, Fed

☆ Private payrolls rose by 140,000 in February, less than expected, ADP reports
▼ + stars: | 2024-03-06 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Private sector job growth improved during February though growth was slightly less than expected, payrolls processing firm ADP reported Wednesday. Companies added 140,000 positions for the month, an increase from the upwardly revised 111,000 in January but a bit below the Dow Jones estimate for 150,000. Other industries showing solid gains included trade, transportation and utilities (24,000), finance (17,000) and the other services category (14,000). Of the total, 110,000 came from the services sector while goods producers added 30,000. In recent months, ADP has consistently undershot the closely watched report from the Bureau of Labor Statistics, which showed an increase of 353,000 in January, more than triple the ADP estimate.

Persons: Dow Jones, Nela Richardson Organizations: Companies, Labor, ADP, Bureau of Labor Statistics

☆ U.S. Treasury yields fall as investors fret over economic outlook
▼ + stars: | 2024-03-05 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

ET, the yield on the 10-year Treasury yield was down by over one basis point to 4.2033%. The 2-year Treasury yield was last more than one basis point lower to 4.5912%. U.S. Treasury yields dipped on Tuesday as investors considered what could be ahead for the economy and awaited fresh data scheduled for the week. Investors are hoping the data will indicate that the labor market — and wider economy — is cooling, as this could signal that interest rate cuts may be on the horizon. Uncertainty about the outlook for rate cuts has been persistent as Federal Reserve officials have given few indications about a timeline and recent economic data has painted a somewhat mixed picture.

Persons: Jerome Powell, Powell Organizations: U.S, Treasury, Investors, Federal Reserve

☆ Treasury yields rise as investors look ahead to Powell testimony and jobs data
▼ + stars: | 2024-03-04 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

ET, the yield on the 10-year Treasury was over two basis points higher to 4.2091%. The 2-year Treasury yield was last up by more than three basis points to 4.5643%. U.S. Treasury yields were higher on Monday as investors considered the state of the economy and looked ahead to key economic data slated for this week. Investors weighed the path ahead for the economy, including inflation — after recent data painted a somewhat mixed picture — and awaited fresh insights from the economy expected this week. Fresh insights will come this week in the form of labor market data, including JOLTs job openings figures, private payrolls data from ADP and the February jobs report.

Persons: Jerome Powell Organizations: Treasury, U.S, Investors, University of Michigan, Federal Reserve

☆ U.S. stock futures are little changed after Nasdaq rallies to record high: Live updates
▼ + stars: | 2024-03-03 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., February 23, 2024. U.S. stock futures were little changed Sunday night after the tech-heavy Nasdaq Composite posted a record-high Friday, breaking its 2021 record, as stocks attempt to continue their weeks-long rally. Futures tied to the S&P 500 fell marginally, while Nasdaq-100 futures ticked slightly lower. Futures tied to the 30-stock Dow Jones Industrial Average slipped 47 points, or 0.1%. The S&P 500 and the Nasdaq last week reached their seventh weekly gain in eight, while the Dow ended the week in the red.

Persons: Dow, David Kostin, Goldman Sachs, Jerome Organizations: New York Stock Exchange, Nasdaq, Dow Jones, Federal, ADP Employment Survey, Manufacturing Locations: New York City, U.S

☆ Fed Chair Powell and jobs data take center stage next week as Wall Street weighs interest rate outlook
▼ + stars: | 2024-03-01 | by ( Sarah Min | ) www.cnbc.com time to read: +8 min

Next week, the first full trading week of March, macroeconomic concerns will take center stage for investors. Next week, the Fed chief is largely anticipated to stick to the same talking points in testifying before Congress. In fact, the February jobs report, due out next Friday, is expected to show a moderation in payroll gains. Hourly Earnings preliminary (February) 8:30 a.m. Average Workweek preliminary (February) 8:30 a.m. Manufacturing Payrolls (February) 8:30 a.m. Nonfarm Payrolls (February) 8:30 a.m. Private Nonfarm Payrolls (February) 8:30 a.m. Unemployment Rate (February) — CNBC's Michael Bloom, Jeff Cox and Yun Li contributed to this report.

Persons: Jerome Powell, Powell, Shannon Saccocia, Kim Forrest, Webull, Michael Hartnett, CNBC's Yun Li, Melissa Brown, Brown, Wealth's Saccocia, Saccocia, Nonfarm Payrolls, —, Michael Bloom, Jeff Cox, Yun Li Organizations: Federal, Fed, Capitol, Nasdaq, Dow Jones, FactSet, Barclays, Bokeh Capital Partners, Labor Department, Bitcoin, BofA Global Research, Apple, Nvidia, Ross Stores, Costco Wholesale, Kroger, . Semiconductor, Broadcom, PMI, PMI Services, Services PMI, Ross, Target, ADP, Labor, Consumer Credit Locations: U.S, REITs, Japan

☆ High earners, young people and women are working fewer hours after the pandemic, says new research—here's why
▼ + stars: | 2024-03-01 | by ( Morgan Smith | ) www.cnbc.com time to read: +4 min

But the people driving the post-pandemic decline in hours worked fall into four categories: women, young adults, highly paid workers and employees at small businesses. Richardson points out that high earners can maintain their annual income while working fewer hours, thanks to big post-pandemic pay increases. Women are working more part-time jobs than menA record number of Americans — 22 million — are working part-time, Labor Department figures show. In 2019, women worked 4.4 hours less per week than men, who worked 40 hours. The industries that saw bigger declines in hours worked — health care, leisure and hospitality — are dominated by women.

Persons: Nela Richardson, Richardson, they're, Gen Zers, there's, Zers Organizations: ADP Research, U.S, ADP, Workers, Labor Department, National Women's Law, Deloitte Locations: U.S

☆ Starboard nominates directors to Alight’s board. A plan to improve margins could be on the horizon
▼ + stars: | 2024-02-24 | by ( Kenneth Squire | ) www.cnbc.com time to read: +7 min

Activist Commentary: Starboard is a very successful activist investor and has extensive experience helping companies focus on operational efficiency and margin improvement. Additionally, Starboard has extensive experience helping portfolio companies improve margins from a board level and adding one or two of their nominees to the board could expedite this. CEO Issue: Alight's CEO Stephan Scholl is a talented technologist and software expert, but not an experienced operator of a benefits administration company. Like the experienced activist Starboard is, the firm wanted to preserve its options as it speaks privately with Alight. Shareholders would certainly benefit from the addition of two or three Starboard directors to the board.

Persons: Keith D, Dorsey, Matthew C, Levin, Gavin T, Molinelli, Foley Trasimene, William P, Foley, Stephan Scholl, William Foley, Coretha, Denise Williams, Ken Squire Organizations: ExCo, CR Consulting Alliance, FIS, 13D Locations: Boyden, SPACs

Recent job cuts have been concentrated mainly in just a few sectors: technology, finance and media. Relative to the U.S. labor force of 160 million people, layoffs so far have been dwarfed by consistently vigorous hiring — a monthly average of 248,000 jobs added over the past six months. THE LAYOFFS ARE SPREAD OVER TIMEHigh-profile job cuts typically involve many layoffs that aren't implemented immediately. So they weren't included in the January jobs data that was released Friday because the layoffs hadn't yet taken place. Jobs cuts are deeply distressing and disruptive for people who suffer them.

Persons: they've, —, They're, That's, binges, Todd McKinnon, ” Organizations: WASHINGTON, Blockbuster, eBay, UPS, Spotify, Manufacturers, Labor Department, Companies Locations: Federal, U.S

☆ 8 more of our stocks report earnings next week. Here's what we want to see
▼ + stars: | 2024-02-03 | by ( Zev Fima | ) www.cnbc.com time to read: +13 min

The three major averages posted gains for the fourth week in row, lifted by strong quarterly earnings results for most of the Big Tech companies and a strong jobs report. A weaker ADP Employment report on Wednesday provided no read-through to the monster January jobs report Friday. Here's what we're keeping an eye on in the coming week: 1. Earnings: It's another big earnings week head for the portfolio, with 8 more of our companies reporting. Consistency is what we appreciate most from nat gas giant Linde , so we're hoping for another quarter of solid earnings growth Tuesday.

Persons: Estee Lauder, Eli Lilly, Mounjaro, Nelson Peltz, Estée Lauder, Tyson, CARR, Jacobs, Willis Towers Watson, Edwards, Walt Disney, Oscar Health, Philip Morris, Armour, BAX, BILL, Jim Cramer's, Jim Cramer, Jim, George Frey Organizations: Big Tech, Dow Jones Industrial, Nasdaq, PMI, Apple, Starbucks, Procter, Gamble, GE Healthcare, DuPont, Linde, Ford, General Motors, Trian Partners, Disney, ESPN, Wynn Resorts, Wynn, Vegas, Prix, Estée Lauder Companies, Caterpillar, McDonalds Corp, Allegiant Travel, Bowlero Corp, Tyson Foods, TSN, Air Products & Chemicals, IDEXX Laboratories, CNA Financial Corp, CNA, Timken Company, Graham Corporation, Mesa Laboratories, Sphere Entertainment, Loews Corp, Technologies, Vertex Pharmaceuticals, Semiconductors, Simon Property Group, Amkor Technology, FMC Corporation, FMC, BellRing Brands, Crown Holdings, ChampionX Corporation, Golub Capital BDC, Flexsteel Industries, Kilroy Realty Corp, Gladstone Capital Corp, Unibanco, S.A, Snack Foods Corp, Kimball Electronics, Skyline Corp, Cabot Corporation, Simpson Manufacturing Co, Varonis Systems, Co, GE HealthCare, Linde plc, LIN, Spotify Technology S.A, BP, Hertz Global Holdings, AeroSystems Holdings, Toyota Motor Corp, Cummins, CMI, Software Technologies, AGCO Corporation, Carrier Global Corporation, Lear Corp, CONSOL Energy, Centene Corporation, Gartner, Arcbest Corp, CTS Corporation, Energizer Holdings, Hamilton Lane Incorporated, KKR, Precision Drilling Corporation, Frontier Group Holdings, Waters Corp, Alfa Laval, Aramark Holdings Corp, FirstService Corporation, Garden Sports Corp, New Jersey Resources Corp, nVent Electric plc, PJT Partners, Resources, Sensata Technologies, Ford Motor Company, Enphase Energy, Grill, VF Corp, Edwards Lifesciences Corp, Gilead Sciences, Lumen Technologies, Cognizant Technology Solutions Corp, Weatherford International plc, Amcor plc, Arrowhead Pharmaceuticals, Advanced Energy Industries, Uber Technologies, CVS Health, Roblox Corporation, Ares Capital Corp, Bunge, XPO Logistics, Scotts Miracle, Gro Company, Berry Global, Flex LNG, Equinor ASA, Griffon Corporation, OneMain Holdings, Brookfield Asset Management, Emerson Electric Co, Hilton Worldwide Holdings, Reynolds Consumer Products, Silicon Laboratories, Brands, Sciences, CDW Corp, Fox Corporation, WYNN, PayPal, Arm Holdings plc, ARM, Axcelis Technologies, Mattel, Paycom, Annaly Capital Management, McKesson Corp, Health Corporation, O'Reilly Automotive, Allstate Corp, Fluence Energy, Power Systems, Digital Turbine, Blue Bird Corp, Everest Group, Omega HealthCare, Coty, COTY, ConocoPhillips, Cameco Corp, Philip Morris International, Spirit Airlines, Hershey Company, Lightspeed Commerce, Aurora Cannabis, Lincoln National Corp, P, Tenet Healthcare Corp, Asbury Automotive Group, Arrow Electronics, Baxter International, PetMed, Boyd Gaming Corp, FirstEnergy Corp, Motorola Solutions, Terex Corp, PepsiCo, Growth, AMC Networks, Owl, American Pipeline, TELUS International, Magna International, Newell Brands, Jim Cramer's Charitable, CNBC, Bloomberg, Getty Locations: U.S, China, Macau, Wynn Macau, Valvoline, VVV, ALFVY, Madison, New Jersey, Gilead, Ceridian, ORLY, Paycor, Aurora, Provo , Utah

☆ January jobs report: Expect to see strong but slower hiring and an uptick in the unemployment rate
▼ + stars: | 2024-02-02 | by ( Alicia Wallace | ) edition.cnn.com time to read: +9 min

New York CNN —The first jobs report for 2024, set to be released at 8:30 am ET Friday, is expected to underscore the strength of the US economy despite 11 rate hikes from the Federal Reserve. That can make the January jobs report among the trickiest to forecast, said Sarah House, a senior economist with Wells Fargo. Friday’s jobs report also will include the final annual benchmark review of payroll data for the 12 months that ended in March 2023. However, excluding January 2023, last month’s job cuts were the highest seen in January since 2009, according to Challenger. US worker productivity grew 3.2% in the fourth quarter, according to a BLS report released Thursday.

Persons: Jerome Powell, he’s, Sarah House, Wells, “ We’re, ”, there’s, Boussour, EY, ” Boussour, Daniel Zhao, Zhao, haven’t, ” Andrew Challenger, people’s paychecks, ” Diane Swonk, “, —, Swonk Organizations: New, New York CNN, Federal Reserve, Labor, Workers, Challenger, ”, BLS, KPMG, CNN Locations: New York, Wells Fargo, United States

The year opened with a bang as employers added 353,000 jobs in January, far exceeding the most optimistic of forecasts. Revisions also raised the November job number to 182,000 and also added 117,000 more jobs to December. “The labor market is certainly cooling,” Brent Schutte, chief investment officer at Northwestern Mutual Wealth Management, said ahead of the report. “I think the labor market by many measures is at or nearing normal, but not totally back to normal,” Powell told reporters. But it is hard to contain the enthusiasm that a strong jobs report along with moderating inflation is good for most Americans.

Persons: “, ”, Becky Frankiewicz, isn’t, ” “ We’re, December’s downwardly, ” Brent Schutte, seasonality, Amy Glaser, Glaser, Chris Todd, ” Todd, Jerome Powell, ” Powell, “ It’s, Julia Pollak, ” Schutte Organizations: ADP, Northwestern Mutual Wealth Management, Adecco, BLS, Federal Reserve, Federal

☆ Treasury yields rise ahead of key jobs report
▼ + stars: | 2024-02-02 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

The 2-year Treasury yield was last up by over four basis points to 4.2352%. U.S. Treasury yields were higher on Friday as investors looked ahead to key labor market figures and assessed the outlook for interest rates. Investors awaited the January jobs report due on Friday and considered the path ahead for interest rates after the Federal Reserve's latest monetary policy decision and guidance was issued earlier in the week. The U.S. Labor Department's jobs report comes after ADP's private payrolls report, which was published earlier in the week, slowed more sharply than expected in January. That comes as uncertainty around the outlook for interest rates, especially regarding a timeline for rate cuts, remains high.

Persons: Dow Jones, payrolls, Jerome Powell Organizations: Treasury, U.S, Federal, Labor, Companies

BANGKOK (AP) — Asian shares were mixed on Thursday after Wall Street fell to its worst loss since September as the Federal Reserve indicated cuts to interest rates are not imminent. On Wednesday, Big Tech stocks burned by the downside of high expectations triggered a sharp slide. The slide for Big Tech stocks dragged the Nasdaq composite to a market-leading loss of 2.2%. The Dow Jones Industrial Average, which has less of an emphasis on tech, fell a more modest 0.8%, to 38,150.30. Three more Big Tech stocks will report results on Thursday: Amazon, Apple and Meta Platforms, the parent company of Facebook and Instagram.

Persons: Dan Ives, ” Tesla, Elon Musk, “ We’re, ”, Jerome Powell, “ It’s, Powell Organizations: Federal Reserve, Nikkei, Big Tech, Nasdaq, Dow Jones, Microsoft, Wedbush Securities, ”, Apple, Facebook, Fed, Wednesday, Treasury, ADP Research, U.S, New York Mercantile Exchange, Brent Locations: BANGKOK, U.S, Shanghai, Seoul, Australia, India, Louvre, Delaware

☆ Fed Chair Powell says the job market is still strong. Here’s how the numbers break down
▼ + stars: | 2024-02-01 | by ( Alicia Wallace | ) edition.cnn.com time to read: +9 min

That can make the January jobs report among the trickiest to forecast, said Sarah House, a senior economist with Wells Fargo. Friday’s jobs report also will include the final annual benchmark review of payroll data for the 12 months that ended in March 2023. Fresh data on job cuts and productivityOn Thursday, the layoff picture became clearer. However, excluding January 2023, last month’s job cuts were the highest seen in January since 2009, according to Challenger. US worker productivity grew 3.2% in the fourth quarter, according to a BLS report released Thursday.

Persons: Jerome Powell, he’s, Sarah House, Wells, “ We’re, ”, there’s, Boussour, EY, ” Boussour, Daniel Zhao, Zhao, haven’t, ” Andrew Challenger, people’s paychecks, ” Diane Swonk, “, —, Swonk Organizations: New, New York CNN, of Labor Statistics, Federal Reserve, Labor, Workers, Challenger, ”, BLS, KPMG, CNN Locations: New York, Wells Fargo, United States

☆ January hiring was the lowest for the month on record as layoffs surged
▼ + stars: | 2024-02-01 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

The job outplacement firm said planned layoffs totaled 82,307 for the month, a jump of 136% from December though still down 20% from the same period a year ago. It was the second-highest layoff total and the lowest planned hiring level for the month of January in data going back to 2009. Amazon also said it would be cutting as did UPS in the biggest month for layoffs since March 2023. Tech layoffs totaled 15,806, the highest since May 2023. Additionally, climate change and immigration policies are influencing labor dynamics and operational challenges in this sector," Challenger said.

Persons: Amazon, Andrew Challenger Organizations: Challenger, Technology, Microsoft, PayPal, Tech, Food, Labor Department

☆ Jim Cramer's top 10 things to watch in the stock market Wednesday — tech earnings edition
▼ + stars: | 2024-01-31 | by ( Jim Cramer | ) www.cnbc.com time to read: +7 min

We raised our Club price target on Microsoft to $450 per share from $400 following Tuesday's after-the-bell earnings. We increased our Club price target on Alphabet to $160 per share from $140. However, we lowered our Club price target to $115 per share from $125 to reflect the challenges ahead. The slide in Alphabet increased our Club price target on Alphabet to $160 per share from $140. Dow stock Walmart 3-for-1 stock split as shares stand a couple of dollars below all-time high of nearly $170 each.

Persons: what's, Jerome Powell, I've, Max, Tesla, Jim Cramer's, Jim Cramer, Jim Organizations: Nasdaq, Dow, Federal Reserve, ADP, Microsoft, Google, Starbucks, Devices, Club, Nvidia, AMD, Boeing, Walmart, Elon Musk's, Twitter, Jim Cramer's Charitable, CNBC, Micro, Tesla

☆ Private payroll growth slowed to just 107,000 in January, below expectations, ADP reports
▼ + stars: | 2024-01-31 | by ( Jeff Cox | ) www.cnbc.com time to read: +1 min

A 7-Eleven convenience store has a sign in the window reading "Now Hiring" in Cambridge, Massachusetts, U.S., July 8, 2022. Private payroll growth declined sharply in January, a possible sign that the U.S. labor market is heading for a slowdown this year, ADP reported Wednesday. Only one sector — information services (-9,000) — reported a decline, but hiring was slow across virtually all sectors. While the ADP data can provide a barometer for private sector hiring, the two reports often differ, with ADP often undershooting the Labor Department's numbers. On wage gains, ADP reported a 5.2% annual rise, a number that has run above the government's measure of average hourly earnings.

Persons: Dow Jones, —, nonfarm, Nela Richardson Organizations: ADP, Companies, Labor, CNBC PRO Locations: Cambridge , Massachusetts, U.S

☆ You hear the market expects six Fed rate cuts this year — here's where that data comes from
▼ + stars: | 2024-01-31 | by ( Zev Fima | ) www.cnbc.com time to read: +5 min

This week's question: CNBC guests often say six Fed cuts are priced into the 2024 market. – Mike H. When you hear about the number of Federal Reserve interest rate cuts being priced into the market, the data comes from the CME FedWatch tool . The overnight fed funds bank lending rate is the rate that everyone is referring to when talking about Fed rate moves. You may have heard us say things like, the market is trading on Fed rate cuts. This week's question: CNBC guests often say six Fed cuts are priced into the 2024 market.

Persons: Jim Cramer, Mike H, Jerome Powell, Jim Organizations: Federal, CME, That's, CNBC

The firm’s monthly survey showed 107,000 jobs were added, well below the 145,000 estimate. “Progress on inflation has brightened the economic picture despite a slowdown in hiring and pay,” said Nela Richardson, chief economist at ADP. The ADP report comes two days ahead of the Labor Department’s monthly jobs report for January, with consensus estimates for about a 180,000 gain in payrolls after December’s better-than-expected 216,000 increase. “The January jobs report will likely show that the labor market started the year on a solid note,” said Lydia Boussour, EY senior economist. The strong job market and U.S. economic growth in the fourth quarter led the International Monetary Fund to boost its projections of global economic growth this year.

Persons: ”, Nela Richardson, December’s, Lydia Boussour, EY, “, Jerome Powell, José Torres Organizations: ADP, Labor, Federal Reserve, Observers, Interactive, International Monetary Fund, IMF Locations: U.S, payrolls, hawkish, –

☆ 10-year Treasury yield falls as Fed meeting is due to begin
▼ + stars: | 2024-01-30 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

ET, the yield on the 10-year Treasury was down by over three basis points to 4.0586%. the 2-year Treasury yield was last less than one basis points lower at 4.3180%. U.S. Treasury yields were lower on Tuesday as investors awaited fresh economic data and as the Federal Reserve's latest monetary policy meeting is set to begin. The Fed's January meeting is due to kick off Tuesday and conclude with a fresh interest rate decision and guidance on the outlook for monetary policy on Wednesday. At the Fed's last meeting in December, policymakers indicated that they were expecting three rate cuts in 2024, but minutes from the meeting showed that the path ahead for monetary policy remained highly uncertain.

Persons: December's Organizations: Treasury, U.S, Federal, Traders, U.S . Labor

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