Top related persons:
Top related locs:
Top related orgs:

Search resuls for: "August's"


25 mentions found


Crimson clouds light up the skyline of Victoria Harbour on July 14, 2022 in Hong Kong, China. Asia-Pacific markets mostly rose Friday, with Chinese stocks likely set to cap off a week of gains on the back of Beijing's stimulus measures aimed at boosting the economy. The bank added that the weighted average deposit reserve ratio of financial institutions will be about 6.6% after this reduction. Tokyo's headline inflation rate eased to 2.2%, down from August's 2.6%. The core inflation rate — which strips out prices of fresh food — in the capital city came in at 2%, in line with expectations from economists polled by Reuters and down from 2.4% in August.
Organizations: People's Bank of China, Reuters Locations: Victoria Harbour, Hong Kong, China, Asia, Pacific, Tokyo, August's
LONDON — European markets headed for a higher open on Friday as investors weighed the outlook for the economy and looked to fresh data. European stocks had climbed Thursday, with the pan-European Stoxx 600 closing 1.25% higher after being boosted by gains in Asia-Pacific markets. Those widely continued their climb on Friday, still buoyed by China's announcement of stimulus measures earlier in the week. Economists are expecting headline PCE to have risen 2.3% on an annual basis and 0.1% from the previous month. Back in Europe, preliminary inflation data for September is expected out of France, and the latest German unemployment data is also due.
Persons: Germany's DAX Organizations: CAC, MIB, LONDON, People's Bank of, PCE Locations: Asia, Pacific, People's Bank of China, U.S, Europe, France
Stock futures traded near the flatline Thursday night as Wall Street awaits a key inflation reading. Futures tied to the Dow Jones Industrial Average were little changed, as were S&P 500 futures . In the fiscal fourth quarter, the warehouse retailer reported earnings of $5.29 per share on $79.70 billion in fourth-quarter revenue. The so-called PCE is the Federal Reserve's preferred inflation metric, and policymakers and Wall Street alike are hoping for figures that show a cooling trend. The three major indexes are higher for the week, with the S&P 500 up nearly 0.8% and the 30-stock Dow Jones Industrial Average on pace to rise 0.3%.
Persons: LSEG, Jeffrey Roach Organizations: NYSE, Stock, Dow Jones, Nasdaq, Costco Wholesale, Financial, Traders Locations: U.S
The 2-year Treasury yield was last less than one basis point higher to 3.6127%. U.S. Treasury yields were higher on Thursday as investors digested the Federal Reserve's decision to cut interest rates by 50 basis points on Wednesday. The Federal Reserve on Wednesday delivered a 50 basis point interest rate reduction, bringing the federal funds rate to 4.75%-5%. The size of the cut was in line with market expectations, which had shifted from expecting a 25 basis point cut to a bigger 50 basis point one in recent days. Elsewhere, the Bank of England is set to announce its latest interest rate decision.
Organizations: Treasury, U.S, Federal Reserve, Bank of England Locations: U.S
On the positive side, Wharton professor Jeremy Siegel called the decision the "best news" the Fed has offered in years. He said the Fed "moved too fast" with its 50-point cut. This is unusual, since investors will typically snap up these assets after a rate cut. Related storiesSome on Wall Street noted that the Fed's decision to cut beyond 25 basis points was essentially a signal that the central bank is moving past inflation. To Contopoulos point, this may be premature, as August's consumer price index report still stood above the 2% inflation target.
Persons: , Wharton, Jeremy Siegel, Michael Contopoulos, Bernstein, Contopoulos, Powell, Narayana Kocherlakota Organizations: Service, Business, Bernstein Advisors, CNBC, Wall, University of Rochester
Millennials and Gen Z are increasingly shopping at discount stores like TJ Maxx, Burlington, and Ross. AdvertisementGen Z wants more bang for their buck, and their love of a good deal could drive shares of some discount retailers up nearly 20%, Bank of America says. AdvertisementThe report from BofA on Wednesday attributes the rise in popularity among discount stores to inflation weariness. The analysts see Burlington and Ross Stores shares rising 16% and 18% from Wednesday highs, respectively. "Off-price has attracted the customer, helped by the quest for value amidst persistent multi-year inflation pressures," Bank of America's analysts wrote.
Persons: Millennials, TJ Maxx, Ross, , Ross . Younger Organizations: Service, Bank of America, TJ Maxx, Goods, Burlington, Ross Stores, Bank of Locations: Burlington, Millennials, BofA
U.S. stock futures rose Wednesday night as traders digested the Federal Reserve's earlier decision to lower interest rates by a half percentage point. Dow Jones Industrial Average futures rose 100 points, or 0.2%. Futures tied to the S&P 500 and Nasdaq 100 climbed 0.4% and 0.5%, respectively. Both the S&P 500 and 30-stock Dow initially rallied to new record highs right after the Fed announced its interest rate cut decision. "The market was thinking to itself, if you go 50, another 50 has a high likelihood.
Persons: Tom Porcelli, that's, he's, Porcelli, homebuilder Lennar Organizations: New York Stock Exchange, Federal, Dow Jones Industrial, Nasdaq, Fed, Dow, Darden, FedEx, homebuilder, Traders Locations: U.S
Gold hovers near record high ahead of Fed rate verdict
  + stars: | 2024-09-17 | by ( ) www.cnbc.com   time to read: +2 min
An employee puts gold bullions into a safe deposit box at Degussa shop in SingaporeGold prices hovered near a record high on Tuesday, ahead of the anticipated start of the U.S. interest rate reduction cycle, which could see policymakers deliver an outsized cut. Spot gold was steady at $2,581.68 per ounce as of 0254 GMT. Bullion rose to a record high of $2,589.59 on Monday. Goldman Sachs reiterated its optimistic outlook on gold prices. "We find that ETF holdings backed by physical gold continue to rise gradually as the Fed policy rate comes down," it said in a note on Monday.
Persons: Yeap Jun Rong, there's, Nicholas Frappell, Goldman Sachs Organizations: U.S, U.S . Federal, ABC Refinery, Palladium Locations: Singapore, ., U.S .
According to CME FedWatch, which estimates interest rate changes based on market predictions, the size of the rate cut is a coin toss. As of Friday afternoon, there's a 51% chance the Federal Reserve will cut rates by 25 basis points and a 49% chance it'll be an extra-large 50-basis-point cut. That's because a larger rate cut makes borrowing cheaper, which tends to drive up spending and fuel price increases. Rate cuts will also eventually make it cheaper for small businesses to take out loans. A rate cut could cause a rush of buyers to enter the market in the short term, driving up prices and competition.
Persons: Jerome Powell, Michael Madowitz, she's, McTier, it'll, Mark Hamrick, Banks, Hamrick, NerdWallet, Sara Rathner Organizations: Service, Federal, CME FedWatch, Federal Reserve, Business, Washington Center for Equitable Growth, Fed, Consumer Financial, Bureau, asheffey Locations: Jackson Hole , Wyoming, McTier
The Fed is expected to cut rates multiple times this year and in 2025, which means mortgage rates should continue decreasing. Will mortgage rates drop when the Fed cuts rates? If he or other Fed officials indicate that bigger rate cuts could be coming, mortgage rates may inch down. How Fed rate cuts affect mortgage ratesChanges to the federal funds rate don't directly impact mortgages, but mortgage rates tend to trend up when the Fed raises rates and go down when it lowers rates. The Fed could lower rates substantially by the time we reach the 2025 buying season, which means mortgage rates may be a lot lower, too.
Persons: Freddie Mac, Dan Burnett, Burnett, Jerome Powell, Powell, Fannie Mae, Scott Haymore Organizations: Fed, Federal Reserve, Housing Survey, TD Bank
The print is causing concern that inflation may not be going away, which would mean higher interest rates than markets expect going forward. Skyler Weinand, chief investment officer, Regan CapitalWeinand says the market's current outlook on rate cuts will only take place if the economy deteriorates significantly. If inflation does slow that much, the Fed would likely cut rates faster than just a quarter percent per meeting over the next 3-6 months," Adams said in an email. "However, the stickiness of service price inflation and shelter inflation suggests the Fed will cut rates slower than financial markets currently price in." This would be a disappointment to short-term bond markets that have priced over 250 bps of rate cuts by the end of 2025."
Persons: Brian Rose, UBS Global Wealth Management Rose, Rose, Skyler Weinand, Regan Capital Weinand, Bill Adams, Adams, Peter Perkins, MRB Partners Perkins, Josh Jamner, ClearBridge Investments Jamner, Chris Zaccarelli, Zaccarelli Organizations: Service, CPI, Business, UBS Global Wealth Management, UBS Global Wealth, Fed, Comerica Bank, MRB Partners, Investment, ClearBridge Investments, Independent, bps
U.S. stock futures were little changed Thursday evening as traders sought to shake off a sluggish September. S&P 500 futures traded near the flatline. Futures tied to the Dow Jones Industrial Average added just 0.03%, and Nasdaq 100 futures slipped 0.02%. During Thursday's regular trading, investors snapped up shares of Big Tech names, including Nvidia , lifting the S&P 500 and the Nasdaq Composite for a fourth consecutive day. The three major averages are also on track to post weekly gains, with the S&P 500 up 3.5% and the Nasdaq on track for a 5.3% jump.
Persons: Dan Greenhaus, Dow Organizations: Dow Jones, Nasdaq, Big Tech, Nvidia, Dow, Salesforce, Microsoft, Federal, Management Locations: U.S
In today's big story, this guy is ready to give up after applying to nearly 2,200 jobs . The big storyNot hiringKevin Cash Ben BoxerHow tough is the current job market? AdvertisementThe job market is in a weird spot these days. On paper — and maybe in another labor market — Kevin appears to be the perfect candidate. It's a tough reality check for employees who previously held all the power in the job market.
Persons: , Zer, Kevin Cash Ben Boxer, Kevin Cash, Tim Paradis, Kevin, it's, Forget, Tyler Le, we're, duMond, Chip Somodevilla, Alyssa Powell, Harris, Rebecca Zisser, Elon, Apple, Jensen, Goldman Sachs, David Soloman, Huang, Chelsea Jia Feng, Trump, Brian Niccol, We're, Niccol, Dan DeFrancesco, Hallam Bullock, Milan Sehmbi, Amanda Yen Organizations: Service, Business, Mensa, BI Trump, Oppenheimer, Fed, Twitter, Nvidia, Kroger, London Locations: San Francisco, Austin, New York, London
Traders work on the floor of the New York Stock Exchange during morning trading on September 04, 2024 in New York City. U.S. stock futures inched lower Wednesday night as investors brace for more inflation and labor data, following a volatile session spurred by the release of the August consumer price index. S&P 500 futures and Nasdaq 100 futures dipped 0.07% and 0.13%, respectively. Stocks dropped earlier in the day when August's consumer price index showed an uptick in core inflation, which excludes volatile food and energy prices. Wall Street is anticipating the release of the August producer price index on Thursday.
Persons: Stocks, Lauren Goodwin, CNBC's, — that's, Goodwin, Dow Jones, Kroger Organizations: New York Stock Exchange, Dow Jones Industrial, Nasdaq, Investors, Dow, Fed, New York Life Investments, Adobe Locations: New York City . U.S
One basis point is equivalent to 0.01%. The yield on the 10-year Treasury was 2 basis points higher at 3.721%, with the 2-year Treasury yield also up by 2 basis points at 3.691%. Treasury yields rose early Tuesday ahead of the final major inflation prints before the Federal Reserve's September meeting. Treasury yields have stablized after tumbling through last week when a series of labor market releases missed estimates. Debate has erupted over whether the Fed could opt for a 50 basis point rather than a 25 basis point interest rate cut during the Sept. 17-18 meeting.
Organizations: Treasury, Investors Locations: July's
Investors are gearing up for August's consumer price index report to release on Wednesday. Tuesday's presidential debate could also impact investor sentiment. This week, investors are bracing for the incoming consumer price index report, scheduled for release on Wednesday morning. Before the inflation print, investors will first tune into Tuesday evening presidential debate between candidates Donald Trump and Kamala Harris. Later in the week, the producer price index and the latest jobless claims will be published on Thursday.
Persons: Stocks, , Donald Trump, Kamala Harris, David Bahnsen Organizations: Service, Bahnsen Group, Here's
Investors are waiting for the consumer price report on Wednesday. JPMorgan led a slide in bank stocks after easing its earnings optimism. AdvertisementUS stocks ended mixed Tuesday ahead of the August consumer price index report due out Wednesday morning. Most investors anticipate a 25 basis point rate cut, but any shock in the inflation data could shift that outlook in favor of a steeper cut. Ahead of each report, Tuesday's presidential debate between Donald Trump and Kamala Harris could also sway markets.
Persons: Dow, , Donald Trump, Kamala Harris Organizations: JPMorgan, Service, Nasdaq, Ally Locations: Here's
But Deutsche Bank is offering four reasons to stay positive even as recession fears flare. AdvertisementIt's an uncomfortable time for equity investors, with the S&P 500 fresh off its biggest weekly decline in 18 months. Although the Federal Reserve is on the brink of long-awaited rate cuts, concerns have crept into the market that the economy is at risk of a sudden unpreventable softening. But with interest rate cuts ahead and recession fears in the air, investors are more likely to reposition. Rate cuts are on the horizonAdvertisementAll of Wall Street appears to be bracing for the Federal Reserve to lower rates at its policy meeting next week.
Persons: , Deutsche, There's Organizations: Deutsche Bank, Service, Federal, Wall, Deutsche, Federal Reserve, Treasury, Mortgage Bankers Association
U.S. stock futures were little changed Tuesday night ahead of the August consumer inflation report due Wednesday morning. S&P 500 futures and Nasdaq 100 futures both dipped 0.1%. Traders are anticipating a key economic report Wednesday morning: August's consumer price index. The CPI report and Thursday's producer price index could help determine the size of a widely expected rate cut at the end of the Federal Reserve's two-day meeting on Sept. 18. Fed funds futures trading suggests a 69% chance of a 25-basis-point rate cut and a 31% likelihood of a 50-basis-point reduction, according to CME's FedWatch Tool.
Persons: Dow, Dow Jones, CME's, Kristina Hooper, Hooper Organizations: Dow Jones Industrial, Nasdaq, GameStop, U.S . Securities, Exchange Commission, Nvidia, JPMorgan, CPI, Federal
Apple is gearing up to announce a new lineup of devices at its 'Glowtime' event today — that's where we kick things off in our big story. AdvertisementApple's "Glowtime" event is today, the latest iteration of the tech giant's annual unveiling of its newest iPhone , writes Business Insider's Jordan Hart. AdvertisementAppleThe Apple event will also serve as a litmus test for the wider AI industry. Even giants like Microsoft and Amazon have struggled to turn their big AI bets into revenue drivers. AdvertisementSuccess could give the AI industry more confidence that there is a light at the end of the AI spending tunnel.
Persons: , Chelsea Jia Feng, Insider's Jordan Hart, Apple, that's, BI's Hasan Chowdhury, that'll, , Siri, Jenny Chang, Rodriguez, Paul Graham's, Brian Niccol, Laxman Narasimhan, Dan DeFrancesco, Hallam Bullock, Grace Lett, Milan Sehmbi, Amanda Yen Organizations: Service, Business, Chelsea, Apple, Apple Intelligence, Microsoft, Amazon, Getty, Nvidia, JPMorgan, DOJ, Google, Oracle Locations: China, New York, London, Chicago
Tropical Storm Beryl developed into a Category 1 hurricane as it hit the Texas coast late last night. A disturbance in the Gulf of Mexico is forecast to strengthen into a tropical storm Monday, and could become a hurricane before it reaches the U.S. Gulf Coast by midweek. Tropical storm watches are in effect for northeastern Mexico, as well as southern Texas. Potential Tropical Cyclone Six is expected to dump heavy rain and trigger flash flooding along the coast of northeast Mexico, southern Texas, southern Louisiana and southern Mississippi into Thursday morning, the hurricane center said. August's tropical cyclone activity "was a little below normal" in terms of the number of named storms, the hurricane center said.
Persons: Hurricane Beryl, Beryl, it's, Debby, Ernesto, Francine Organizations: Tropical, National Hurricane Center, Louisiana and, Atmospheric Administration Locations: Hurricane, Houston , Texas, Texas, Gulf, Mexico, Gulf Coast, Rio, Louisiana, Mississippi, Louisiana and Upper Texas, Bend, Florida, South Carolina, Bermuda, Pacific
CNBC's Jim Cramer on Monday suggested the Federal Reserve will make a rate cut at its meeting next week, a move that investors have eagerly awaited for some time. We're almost certain to get a rate cut at next week's meeting." The market seemed to recover on Monday following its worst week of 2024 so far, with investors hopeful a rate cut will aid the economy. Cramer reviewed the recent market action, saying Wall Street had not been behaving as it should with rate cuts just on the horizon. "Rather than trying to figure out what's driving these irrational moves, you should focus on buying dips in high-quality stocks," he said.
Persons: CNBC's Jim Cramer, payrolls, Cramer Organizations: Reserve, Fed, Dow Jones, Nasdaq
(Photo Illustration by Justin Sullivan/Getty Images) Justin Sullivan | Getty ImagesCryptocurrency exchange Coinbase just wrapped up its worst week of the year. According to CoinGlass, September is historically a difficult trading month for crypto assets, with bitcoin notching an average loss of 4.8%. The Crypto Fear & Greed Index, a gauge of crypto market sentiment, is firmly in the "Extreme Fear" zone, indicating that investors are worried about price moves. On Friday, the Bureau of Labor Statistics reported a cooldown in the labor market with August payrolls falling short of expectations. Crypto equities hit hardestWhile it was a rough week for risky assets of all sorts, investors over-indexed in crypto stocks had it particularly bad.
Persons: Justin Sullivan, Schwab, CoinGlass, Bitcoin, payrolls, Leena ElDeeb, MicroStrategy, Michael Saylor, CleanSpark, Jerome Powell, Donald Trump, Trump, Gary Gensler Organizations: Securities, Exchange, Securities and Exchange Commission, Marathon, Nasdaq, bitcoin, Labor, of Labor Statistics, SEC, JPMorgan Chase, Federal Reserve, August's, U.S, Republican Locations: CALIFORNIA, San Anselmo , California, Bitcoin, U.S, MicroStrategy, Coinbase, Nashville
Layoffs soared in August, hitting their highest total for the month in 15 years, while year-to-date hiring reached a historic low, outplacement firm Challenger, Gray & Christmas reported Thursday. Announced job cuts totaled 75,891 for the month, lurching 193% higher than July. "August's surge in job cuts reflects growing economic uncertainty and shifting market dynamics," said Andrew Challenger, the firm's senior vice president. To be sure, the Challenger layoffs data is somewhat out of sync with government reports, which show that initial claims for unemployment benefits have been slightly elevated in recent weeks but not reflective of a major escalation. Companies announcing job cuts most often cited cost-cutting and economic conditions as the reasons, though artificial intelligence also was listed for the first time since April.
Persons: Andrew Challenger Organizations: Challenger, Companies Locations: U.S
Federal Reserve Chair Jay Powell said Friday he expects the central bank will cut its key interest rate in the near future in response to slower economic growth and cooling inflation. "The labor market is no longer overheated, and conditions are now less tight than those that prevailed before the pandemic. Starting in the spring of 2022, the Fed raised interest rates to a level not seen in nearly two decades as it worked to combat soaring inflation. "Make no mistake, if the labor market shows signs of further cooling, the Fed will cut with conviction," Shah wrote. Lower interest rates will provide some relief to consumer borrowers, but it will not be immediate, according to Greg McBride, chief financial analyst at Bankrate.com.
Persons: Jay Powell, Powell, ” Powell, , Seema Shah, , Shah, Greg McBride, McBride Organizations: , Dow Jones, Nasdaq, midmorning, Market Committee, Management Locations: Jackson Hole , Wyoming, U.S
Total: 25