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☆ Why you should buy stocks ahead of next week's inflation report
  + stars: | 2024-05-10 | by ( Matthew Fox | ) www.businessinsider.com   time to read: +2 min
Investors should buy stocks ahead of next week's release of the April CPI report, according to Fundstrat's Tom Lee. An in-line CPI report or better would increase the chances of three interest rate cuts this year, Lee said. AdvertisementInvestors should buy stocks ahead of next week's release of the April CPI report, according to Fundstrat's Tom Lee. Sweden's Riskbank cut interest rates for the first time since 2016 on Wednesday, and the Bank of England signaled that interest rate cuts are imminent. And next week, we expect incoming data to show overall softening of the key components of inflation," Lee said.
Persons: Tom Lee, Lee, — Organizations: Service, Federal Reserve, Bank of England
☆ Cramer's week ahead: Earnings from Home Depot, Alibaba, Walmart
  + stars: | 2024-05-10 | by ( Julie Coleman | ) www.cnbc.com   time to read: +2 min
CNBC's Jim Cramer on Friday guided investors through next week's market action, telling them to pay attention to a number of earnings reports, including Home Depot , Alibaba and Walmart . He also suggested remarks from Federal Reserve officials will continue to shape the market, saying investors should tune in on Monday to commentary from Loretta Mester, the president of the Federal Reserve Bank of Cleveland. Alibaba also reports that day, and Cramer said if the quarter is good, Wall Street may be more inclined to buy Chinese stocks. Thursday brings earnings from Walmart , Deere and Applied Materials . He added that Applied Materials could have a solid quarter as its peer Taiwan Semiconductor just released a positive sales report.
Persons: CNBC's Jim Cramer, Loretta Mester, Cramer, Alibaba Organizations: Home, Walmart, Federal Reserve, Federal Reserve Bank of Cleveland, Cisco, Deere, Applied, Taiwan Semiconductor, Dow Locations: Alibaba, Nextracker
☆ Mortgage Interest Rates Today, May 10, 2024 | Rates Finally Dropped This Week
  + stars: | 2024-05-10 | by ( Molly Grace | Sarah Silbert | Mortgage Reporter | ) www.businessinsider.com   time to read: +10 min
Average 30-year mortgage rates dropped this week and have been hovering in the upper 6% range, according to Zillow data. As inflation slows and the Federal Reserve is able to start lowering the federal funds rate, mortgage rates should go down. 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. 15-Year Fixed Mortgage Rates Go Down (-0.18%)The average 15-year mortgage rate is 6.11%, 18 basis points lower than last week. Mortgage Refinance Rates30-Year Fixed Refinance Rates Fall (-0.28%)The average 30-year refinance rate is 6.99%, 28 basis points lower than last week.
Persons: you'll, It's, refinance Organizations: of Labor Statistics, Federal Reserve Bank, Federal Reserve, Investors, Zillow, FHA Locations: Chevron
☆ Cramer's Lightning Round: Bank of America is a buy
  + stars: | 2024-05-10 | by ( Julie Coleman | ) www.cnbc.com   time to read: +1 min
Stock Chart Icon Stock chart icon Biogen's year-to-date stock performance. Stock Chart Icon Stock chart icon Kratos' year-to-date stock performance. Micron : "I like Micron, and I like Sanjay Mehrotra [buy, buy, buy!]." Stock Chart Icon Stock chart icon Bank of America's year-to-date stock performance. Stock Chart Icon Stock chart icon Chevron's year-to-date stock performance.
Persons: Kratos, that's, Sanjay Mehrotra Organizations: Micron, of America's, Fidelis Insurance Holdings
☆ Dollar nurses losses after another set of soft jobs data
  + stars: | 2024-05-10 | by ( ) www.cnbc.com   time to read: +4 min
Against the Japanese yen, the dollar was trading at 155.39 yen , down from highs of 155.95 hit in the previous session. The dollar index , which measures the greenback against a basket of currencies including the yen and the euro, was flat at 105.25. "We note jobless claims are weekly data that can be very volatile from week to week," Commonwealth Bank of Australia's Joseph Capurso, said in a note. "The BoE's urgency and willingness to cut ahead of the Fed will continue to weigh on the currency," Goh said. Being added to the list makes it harder for U.S. suppliers to ship to the targeted entities.
Persons: Commonwealth Bank of Australia's Joseph Capurso, Shunichi Suzuki, Rong Ren Goh, Sterling, BoE, Goh Organizations: U.S, Federal Reserve, dovish Bank of England, Commonwealth Bank of Australia's, Tokyo, Japan's Finance, Eastspring Investments, Bank of England, Monetary, Committee, Fed, Treasury, Traders, PPI, Federal Locations: U.S, United States
☆ The US and the West are facing the blowback of sanctions against Russia, economist says
  + stars: | 2024-05-10 | by ( Jennifer Sor | ) www.businessinsider.com   time to read: +3 min
Read previewThe US miscalculated when it imposed harsh sanctions on Russia, and not only has Vladimir Putin's economy weathered the impact, but the West is facing the negative effects of the economic restrictions it imposed. Food and energy prices have soared since the West imposed sanctions on Russia, he noted partly because Russia is one of the world's largest exporters of oil and grain. Even the US dollar may end up worse off due to sanctions, Rubin said. Russia's trade with China, for instance, has nearly completely phased out the dollar, Russian officials said last year. "Sanctioning the ruble and confiscating a third of the Russian central bank's foreign reserves was supposed to cripple the Russian economy.
Persons: —, Vladimir, Jeff Rubin, " Rubin, crimp, Rubin, Putin Organizations: Service, Business, The Globe, Federal Reserve Board, Bank of Canada Locations: Russia, Ukraine, China, Russian
☆ State Bank of India says country's interest rates likely to stay higher for longer
  + stars: | 2024-05-10 | 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 EmailState Bank of India says country's interest rates likely to stay higher for longerDinesh Kumar Khara, chairman of State Bank of India, discusses the outlook for the Indian central bank's monetary policy and the banking sector.
Persons: Dinesh Kumar Khara Organizations: Bank of India, State Bank of India
☆ Lightning Round: We're only in the middle of Micron's roll higher, says Jim Cramer
  + stars: | 2024-05-10 | by ( Jim Cramer | ) 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 EmailLightning Round: We're only in the middle of Micron's roll higher, says Jim Cramer'Mad Money' host Jim Cramer weighs in on stock including: Biogen, Kratos, Micron, Bank of America, Fidelis Insurance, Jfrog, and Chevron.
Persons: Jim Cramer Organizations: Micron, Bank of America, Fidelis Insurance, Chevron
☆ 'Beaten up' UK homebuilders could get the biggest boost from interest rate cuts, strategist says
  + stars: | 2024-05-10 | 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 Email'Beaten up' UK homebuilders could get the biggest boost from interest rate cuts, strategist saysMichael Field, European equity market strategist at Morningstar, discusses the outlook for European sectors and says homebuilders, particularly in the U.K., could see the biggest boost should the Bank of England start cutting interest rates.
Persons: Michael Field Organizations: Morningstar, Bank of England
☆ UK economy emerges from recession with 0.6% growth in first quarter
  + stars: | 2024-05-10 | by ( April Roach | ) www.cnbc.com   time to read: +1 min
The U.K. economy has emerged from recession as gross domestic product rose 0.6% in the first quarter, official figures showed Friday, beating expectations. Economists polled by Reuters had forecast growth of 0.4% on the previous three months of the year. The U.K. entered a shallow recession in the second half of 2023, as persistent inflation continued to hurt the economy. Although there is no official definition of a recession, two straight quarters of negative growth is widely considered a technical recession. The Bank of England's Monetary Policy Committee on Thursday warned that indicators of persistent inflation "remain elevated," and voted to keep its main interest rate at 5.25%.
Organizations: Reuters, of England's
☆ BofA Securities' Vivek Arya reacts to Arms Q4 earnings
  + stars: | 2024-05-09 | 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 EmailBofA Securities' Vivek Arya reacts to Arms Q4 earningsVivek Arya, Bank of America Securities senior semiconductor analyst, joins CNBC's 'Squawk on the Street' to discuss the semiconductor sector, Arms Holding earnings, AI, and more.
Persons: Vivek Arya Organizations: BofA, Bank of America Securities, Arms
☆ Bank of England holds interest rates steady, but signals a cut is coming
  + stars: | 2024-05-09 | by ( Jenni Reid | ) www.cnbc.com   time to read: +1 min
LONDON — The Bank of England on Thursday announced a widely-expected hold on interest rates following its May meeting, as it said restrictive monetary policy was working to bring down inflation. Members of the central bank's Monetary Policy Committee voted 7-2 to hold, with the latter favoring a cut. In the prior meeting only one member voted for a cut. It keeps the BOE's key Bank Rate at 5.25%. Some economists see a cut as soon as the next meeting in June, and three or more cuts in 2024.
Persons: Matthew Swannell, CNBC's Organizations: Bank of England, Monetary, MPC, BNP
☆ Bank of England's Andrew Bailey says cutting rates just before a UK election wouldn't be an issue
  + stars: | 2024-05-09 | 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 EmailBank of England's Andrew Bailey says cutting rates just before a UK election wouldn't be an issueBank of England Governor Andrew Bailey on Thursday played down any political pressure received by his institution.
Persons: England's Andrew Bailey, wouldn't, Andrew Bailey Organizations: Email Bank, England's, of England
☆ Bank of England likely to cut rates in June, economist says
  + stars: | 2024-05-09 | 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 EmailBank of England likely to cut rates in June, economist saysRobert Wood, chief U.K. economist at Pantheon Macroeconomics, discusses the outlook for the Bank of England's monetary policy.
Persons: Robert Wood Organizations: Email Bank of, Pantheon, Bank Locations: Email Bank of England
☆ Treasury launches ‘Project Fortress,’ an alliance with banks against hackers
  + stars: | 2024-05-09 | by ( Matt Egan | ) edition.cnn.com   time to read: +6 min
The new public-private partnership, dubbed Project Fortress, underscores the real danger US officials and bank executives believe cyberattacks pose to the economy. But Project Fortress is not just about playing defense. Project Fortress has been in the works for several months, with Treasury rolling out various parts of the alliance in pieces, the source said. One of the key elements of Project Fortress is the cyber hygiene tool run by the Cybersecurity and Infrastructure Security Agency (CISA). The federal government has recently flexed its offensive capabilities, including ones that are part of Project Fortress.
Persons: Wally Adeyemo, Janet Yellen, Adeyemo, Jamie Dimon, Brian Moynihan, Jane Fraser, Robin Vince, ” Vince, Vince, Jerome Powell, ” Adeyemo, Sean Lyngaas Organizations: New, New York CNN, Treasury, CNN, Bank Policy, JPMorgan Chase, Bank of America, Citigroup, BNY, Washington, Industrial, Commercial Bank of China, Infrastructure Security Agency, JPMorgan Locations: New York, Washington
☆ European markets head for higher open; BoE rate decision ahead
  + stars: | 2024-05-09 | by ( Holly Ellyatt | ) www.cnbc.com   time to read: 1 min
European markets are heading for a higher open Thursday, maintaining positive momentum in a busy week of earnings. Ferrovial, Telefonica, EDP, Enel, Pirelli and Salvatore Ferragamo are all due to report today. Elsewhere, the Bank of England is set to publish its latest interest rate decision Thursday. China stocks rose overnight as its imports surged past estimates and exports rose in line with expectations, while the broader Asia-Pacific market was mixed. Meanwhile, futures linked to the Dow Jones Industrial Average hovered near the flatline Wednesday evening after the 30-stock index posted its sixth consecutive winning day.
Persons: Salvatore Ferragamo, it's Organizations: Ferrovial, Telefonica, EDP, Enel, Pirelli, Bank of England, Dow Jones Locations: China, Asia, Pacific
☆ Watch Governor Andrew Bailey speak after the Bank of England's rate decision
  + stars: | 2024-05-09 | by ( Cnbc.Com Staff | ) www.cnbc.com   time to read: 1 min
[The stream is slated to start at 7:30 a.m. Please refresh the page if you do not see a player above at that time.] Bank of England Governor Andrew Bailey is speaking at a press conference following the U.K. central bank's latest monetary policy decision. Subscribe to CNBC on YouTube.
Persons: Andrew Bailey Organizations: Bank of England, CNBC, YouTube
☆ Japan not seeking a strong yen but a stable currency, David Roche says
  + stars: | 2024-05-09 | by ( Sumathi Bala | ) www.cnbc.com   time to read: +2 min
Japan is not seeking a strong yen but rather aiming for a relatively stable currency, according to veteran investor David Roche. The Japanese yen has been on a roller coaster ride, with the currency breaking past 160 against the greenback last week — steepest decline in more than three decades. "The Japanese are not aiming at a particularly strong yen. Japan could not "possibly speak to have policy that really results in a strong yen unless they tighten monetary policy," Roche said, adding that it would involve raising interest rates by at least 50 basis points and allowing "unsterilized intervention" of the yen. As far as I can see from the statistics, they've [Bank of Japan] done nothing like that," Roche noted.
Persons: David Roche, Roche, CNBC's Organizations: greenback, Independent, Bank of Japan, Bank of Locations: Japan, Bank of Japan
☆ 'It's our duty': Bank of England chief says cutting rates just before a UK election wouldn't be an issue
  + stars: | 2024-05-09 | by ( Matt Clinch | ) www.cnbc.com   time to read: +1 min
Bank of England Governor Andrew Bailey addresses the media during the central bank's Monetary Policy Report press conference at the Bank of England, in London, Britain, on February 1, 2024. LONDON — Bank of England Governor Andrew Bailey on Thursday played down any political pressure received by his institution, confirming that a rate cut immediately before a General Election wouldn't be out of the question. This is especially true in election cycles if citizens are dealing with an economic downturn or a cost-of-living squeeze. The Bank of England, which became officially independent in 1998, is no stranger to this pressure with elections expected before the end of this year. The Bank is nearing its first rate cut since 2020, despite holding steady on Thursday.
Persons: Andrew Bailey, wouldn't, Bailey, CNBC's Steve Sedgwick, it's Organizations: England, Bank of England, LONDON — Bank of England Locations: London, Britain
☆ Bank of England set to hold rates as Europe's central banks diverge from Fed
  + stars: | 2024-05-09 | by ( Jenni Reid | ) www.cnbc.com   time to read: +2 min
Variegated tulips planted in flower beds opposite the Bank of England in the City of London on 7th May 2024 in London, United Kingdom. =LONDON — The Bank of England is set to hold interest rates steady at its Thursday meeting, with traders expected to pore over the details of Governor Andrew Bailey's statement as anticipation builds for a potential summer rate cut. The BOE's Monetary Policy Committee is widely expected to keep the Bank Rate at 5.25%, with an announcement due at midday. The latest March meeting saw eight votes to keep rates steady and one to cut. It's going to reach target pretty soon, and that will put the Bank under a lot of pressure to start normalizing policy."
Persons: Andrew Bailey's, Bailey, Francesco Garzarelli, Garzarelli, CNBC's, There's Organizations: Bank of England, Eisler Capital, Bank Locations: City of London, London, United Kingdom
☆ How Corporate America is rethinking its sustainability and diversity efforts
  + stars: | 2024-05-09 | by ( Dan Defrancesco | ) www.businessinsider.com   time to read: +6 min
download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . In today's big story, we're looking at how Corporate America is rethinking its sustainability and diversity efforts amid a push to avoid being labeled "woke." The rallying cry against companies' progressive campaigns is starting to leave a mark on Corporate America. AdvertisementAfter years of big promises and grand plans around social issues like diversity and sustainability, companies have taken a noticeable step back , Business Insider's Emily Stewart writes. The electric car maker axed more than 3,400 job postings in North America down to just three on Wednesday.
Persons: —, let's, wokening Brooks Kraft, Emily Stewart, Emily, ESG, hasn't, Peter Thiel, Donald Trump's, Bud Light, influencer Dylan Mulvaney, Rock, Saul Loeb, Chelsea Jia Feng, Wall, Warren Buffett, It's, Justin Sullivan, Elon, Eric Schmidt, Steve Mnuchin, Kevin O'Leary, salespeople, BI's Rob Price, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Business, Service, wokening Brooks Kraft LLC, Corporate America, Trump Media, Getty Images, of America, Berkshire Hathaway's, People's Bank of China, Chelsea, Microsoft, Google, YouTube, Netflix Locations: America, Beijing, North America, New York, London
☆ 'There is an optical element to this,' analyst says on future BOE rate decisions
  + stars: | 2024-05-09 | 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 Email'There is an optical element to this,' analyst says on future BOE rate decisionsFrancesco Garzarelli, chief economist at Eisler Capital, discusses the prospect for future rate cuts from the Bank of England ahead of an expected election.
Persons: BOE, Francesco Garzarelli Organizations: Eisler Capital, Bank of England
☆ Stock futures are little changed after Dow notches seven-day win streak: Live updates
  + stars: | 2024-05-09 | by ( Sarah Min | ) 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., May 8, 2024. U.S. stock futures were little changed on Thursday night after the Dow Jones Industrial Average posted its longest win streak going back to December. S&P 500 futures climbed 0.09%, while Nasdaq 100 futures gained 0.1%. The S&P 500 gained 0.51%, closing above 5,200 for the first time since early April. The S&P 500 and the Nasdaq Composite were higher by 1.7% and 1.2%, respectively.
Persons: Dow, Chris Hyzy, Stocks, Lorie Logan, Neel Kashkari, Michelle Bowman Organizations: New York Stock Exchange, Dow Jones, Nasdaq, Dow, Federal Reserve, Merrill, Bank of America Private Bank, Fed Locations: New York City, U.S, Dallas, Minneapolis, Chicago
☆ Asia markets mixed ahead of China trade data and Japan pay figures
  + stars: | 2024-05-09 | by ( Lim Hui Jie | ) www.cnbc.com   time to read: +1 min
Yaorusheng | Moment | Getty ImagesAsia-Pacific markets were mixed ahead of China's April trade data, as well as pay statistics from Japan. Economists polled by Reuters are expecting a 1.5% rise in China's exports, a reversal from the 7.5% fall in March. Imports are also expected to grow 4.8% year-on-year in April, compared with a 1.9% fall in March. Separately, investors will assess pay statistics from Japan as they look for any signs of the "virtuous cycle" of increasing wages and prices envisioned by the Bank of Japan. Futures for Hong Kong's Hang Seng index stood at 18,277, pointing to a weaker open compared to the HSI's close of 18,313.86.
Persons: Korea's Kospi Organizations: Reuters, Bank of Japan, Japan's Nikkei Locations: Shanghai, Asia, Pacific, Japan
☆ Not seeing evidence of lower income consumer slowdown, says BofA Institute’s Liz Everett Krisberg
  + stars: | 2024-05-09 | 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 EmailNot seeing evidence of lower income consumer slowdown, says BofA Institute’s Liz Everett KrisbergLiz Everett Krisberg, head of Bank of America Institute, joins ‘Squawk Box’ to break down the Institute’s April Consumer Checkpoint Report, which provides real-time consumer spending and financial health estimates.
Persons: BofA, Liz Everett, Liz Everett Krisberg Organizations: Bank of America Institute
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