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Average 30-year mortgage rates spiked this week in response to the latest Consumer Price Index data, which came in hotter than expected. If the Fed needs to keep rates higher for longer, mortgage rates will stay high as well. 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 RatesLast week, average 15-year mortgage rates were 6.16%, a 10-basis-point increase from the previous week, according to Freddie Mac data. Once the Fed cuts rates, mortgage rates should fall even further.

Persons: it's, you'll, Freddie Mac Organizations: Federal Reserve, Zillow Locations: Chevron

Mortgage rates are a bit lower today, though they're still well above where they started the month. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. 15-Year Fixed Mortgage RatesAverage 15-year mortgage rates were 6.16% this week, according to Freddie Mac data, which is a 10-basis-point increase from the previous week. Now that the Fed has paused hiking rates, mortgage rates have come down a bit. Once the Fed starts cutting rates, which is likely to happen this year, mortgage rates should fall even further.

Persons: they're, Freddie Mac Organizations: Markets, Treasury, Investors, Federal Reserve, Zillow, Fed Locations: February's, Chevron

☆ Stocks are undergoing a needed, and (so far) modest, pullback in a longer-term bull market
▼ + stars: | 2024-04-13 | by ( Michael Santoli | ) www.cnbc.com time to read: +8 min

The result was a 1.5-percent weekly drop in the S & P 500 , with Friday's setback exacerbated at least somewhat by a collective clenching-up of risk markets on some geopolitical worry. This dynamic hasn't been reversed, but the signal has grown a bit staticky, draining some conviction from the macro bullish case with the S & P 500 still 24% above the October low. Bull market's backdrop First, it's a bull market, and not a particularly mature or excessively generous one yet. Yet both stocks are still outperforming the S & P this year. The S & P 500 closed Friday at exactly the same level of five weeks earlier, on March 8 – which was perhaps the moment of maximum investor confidence in the "we can have it all" thesis.

Persons: I've, Jerome Powell, Powell, Wall, it's, We're, John Butters, Fastenal, Scott Chronert Organizations: Federal, ICE, Treasury, CPI, Fed, Grainger, Citi

☆ 3 of our stocks report earnings next week. Here's what we want to see from each
▼ + stars: | 2024-04-13 | by ( Zev Fima | ) www.cnbc.com time to read: +8 min

Heightened tensions in the Middle East, including the possibility of Iran attacking Israel, sent stocks back down and oil prices higher. If the choice is between a weak economy with lower rates or a strong economy with higher rates, we'll take the strong economy every time. Low rates may help with valuation multiples, but it's a strong economy that leads to earnings growth and that's what we, as long-term investors care about. Shelter costs are a major sticking point for overall inflation, which makes Tuesday's housing starts and building permits report a key watch item. We'll get another look at housing with the release of the March existing home sales report on Thursday.

Persons: we've, we'll, Morgan Stanley, Wells, bode, we're, Goldman Sachs, Charles Schwab, Johnson, ERIC, JB Hunt, Kinder Morgan, DR, Ally, Huntington, Jim Cramer's, Jim Cramer, Jim, Abbott, Ethan Miller Organizations: Dow Jones, Wednesday, Federal Reserve, Abbott Labs, Cardiovascular Systems, Diagnostics, Procter & Gamble, Constellation Brands, Procter, T Bank, Bank of America, Bank of New York Mellon, BK, PNC Financial, PNC, Ericsson, United Airlines, Interactive, ASML Holdings, US Bancorp, Citizens, Alcoa, CSX, Discover Financial, Nokia, Alaska Air, Blackstone BX, McLennan, Netflix, PPG Industries, Gamble, Financial, American Express, Jim Cramer's Charitable, CNBC, Las Vegas Convention, Getty Locations: Iran, Israel, China, Marsh, Las Vegas , Nevada

☆ Surging inflation fears sent markets tumbling and Fed officials scrambling
▼ + stars: | 2024-04-13 | by ( Jeff Cox | ) www.cnbc.com time to read: +8 min

Energy prices, which have been a major factor in the past two months' inflation readings, pushed higher on signs of further geopolitical turmoil. Minutes released Wednesday from the March Fed meeting showed officials were concerned about higher inflation and looking for more convincing evidence it is on a steady path lower. Sticky price CPI entails items such as housing, motor vehicle insurance and medical care services, while flexible price is concentrated in food, energy and vehicle prices. "If that's the case, you would require a decent amount of unemployment to get inflation all the way to 2.0%." That's why Furman and others have pushed for the Fed to rethink it's determined commitment to 2% inflation.

Persons: Spencer Platt, —, Stocks, Jason Furman, We've, Israel, Jim Paulsen, Wells, Substack, Paulsen, Furman, Barack Obama, Jamie Dimon, John Williams, Susan Collins, it's, Larry Fink Organizations: Getty, Investors, Dow Jones, CNBC, of Economic Advisers, New York Fed, National Federation of Independent Business, Labor Department, JPMorgan, University of Michigan's, Boston, Commerce, CPI, Citigroup, Fed, Atlanta Fed, Dallas Fed, Harvard, BlackRock Locations: Manhattan, New York City, Iran, Israel

☆ Fed remains in focus for venture capital investors after strong CPI report
▼ + stars: | 2024-04-12 | 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 EmailFed remains in focus for venture capital investors after strong CPI reportCNBC's Kate Rooney reports on news how rates will impact Silicon Valley investor's privately held portfolios.

Persons: Kate Rooney

☆ Americans’ attitudes toward the economy hold steady despite disappointing inflation reports
▼ + stars: | 2024-04-12 | by ( Bryan Mena | ) edition.cnn.com time to read: +4 min

Washington CNN —Americans haven’t felt any better about the economy these past few months, but they haven’t felt any worse either. The Federal Reserve cares whether or not Americans have faith that inflation will eventually return to levels they’re used to. Consumer prices were 3.5% higher in March from a year earlier, a much bigger increase than February’s 3.2% and above what economists were forecasting. On a monthly basis, consumer prices rose 0.4%, also above expectations. The economy is coming into focusEveryday Americans, on the other hand, haven’t fretted about progress on inflation potentially stalling.

Persons: haven’t, ”, Joanne Hsu, ” Oren Klachkin, Stocks, Goldman Sachs, “, ” Goldman Sachs’s, Jan Hatzius, they’re, Joe Biden, Biden, Donald Trump Organizations: Washington CNN, University of Michigan’s, Consumers, Nationwide, CPI, Bank of America, CNN Locations: Pennsylvania, Scranton , Pennsylvania

☆ Fundstrat's Tom Lee predicts the S&P 500 could end the year at 5,700, 'maybe even higher'
▼ + stars: | 2024-04-12 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +1 min

Inflationary pressures may have induced the recent market selloff, but Fundstrat's Tom Lee believes that equities could still end the year higher. The firm's head of research believes that investors may be putting too much weight into the recent economic data releases showing inflation above economists' expectations. Lee believes that even if the Federal Reserve only ends up cutting rates once this year, that could still be conducive for stocks. In fact, Lee believes that the S & P 500 could end the year at 5,700 or "maybe even higher," he said. But he also likes small-cap names ahead of interest rate cuts and finds industrial stocks attractive as the ISM manufacturing report turns higher.

Persons: Tom Lee, Lee Organizations: Federal Reserve

Average 30-year mortgage rates increased to 6.88% this week, according to Freddie Mac. If this measure shows some slowing in inflation, mortgage rates could inch back down. It's likely that we'll need to wait for more data before it becomes clear how mortgage rates will trend this year. See more mortgage rates on Zillow Real Estate on ZillowMortgage Refinance Rates TodayMortgage type Average rate today This information has been provided by Zillow. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments.

Persons: Freddie Mac, It's, Fannie Mae Organizations: Federal Reserve, CPI, of Labor Statistics, Zillow, Mortgage, Association, ARM Locations: Chevron

☆ Wall Street heads into the week ahead on edge as traders brace for a raft of earnings, economic data
▼ + stars: | 2024-04-12 | by ( Sarah Min | ) www.cnbc.com time to read: +7 min

How the corporate America is handling sticky inflation and the prospect of higher interest rates will be top of mind for investors in the week ahead, after this week's choppy moves. The first-quarter earnings season, which kicked off Friday, will give Wall Street insight into how businesses expect to weather an environment of elevated interest rates. More macro data, such as U.S. retail sales, will give insight into how the consumer is handling higher pricing pressures. First-quarter earnings season underway The corporate earnings season kicks into high gear in the week ahead. This week, the small cap Russell 2000 is on track for a losing week, down by more than 1%.

Persons: Bob Doll, CNBC's, Wolfe, Rob Ginsberg, Ginsberg, Goldman Sachs, Morgan Stanley, FactSet, Robert Haworth, Haworth, Charles Schwab, Johnson, D.R, KeyCorp Organizations: Dow Jones Industrial, Exxon Mobil, Costco, Apple, Crossmark, Investments, Investors, Bank of America, Consumer, U.S . Bank, Index, Retail, T Bank, Housing, Manufacturing, Hunt Transport Services, United Airlines, Johnson, Bank of New York Mellon, UnitedHealth Group, Northern Trust, CSX, Discover Financial Services, Prologis, U.S . Bancorp, Philadelphia Fed, American Express, Procter, Gamble, Fifth Third Bancorp, Schlumberger Locations: America, China, NAHB, Vegas Sands, U.S, Horton

☆ Bad news for Biden (and all Americans): Inflation is creeping higher at the worst time
▼ + stars: | 2024-04-11 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +4 min

But, if you’re President Joe Biden, now is a particularly bad time for inflation to reaccelerate. On the other hand, bad economic data, especially regarding inflation, almost certainly guarantees people aren’t going to be feeling better about the economy. Significant progress over the past two years in getting inflation down from multi-decade highs has been of little help to struggling Americans. “We have more to do to lower costs for hardworking families,” he said. The shelter index, a broader component of the inflation report that covers a majority of housing expenses, is up 5.7% year-over-year.

Persons: CNN Business ’, New York CNN — There’s, Joe Biden, Biden, hasn’t, Ron Klain, ”, Ian Maule, he’s, CNN Biden, “ Organizations: CNN Business, New York CNN, Labor, Politico, Biden, Center, CNN, Republican Locations: New York, Las Vegas , Nevada

☆ U.S. Treasury yields hold steady as investors digest inflation data
▼ + stars: | 2024-04-11 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

Yields and prices have an inverted relationship and one basis point equals 0.01%. ET, the yield on the 10-year Treasury was up by 1 basis point to 4.552%. The 2-year Treasury yield was last at 4.961% after rising by less than one basis point. U.S. Treasury yields were little changed Thursday as investors digested consumer inflation data and considered the outlook for interest rates. Treasury yields had jumped on Wednesday, with the yield on the 2-year and 10-year Treasurys climbing by as many as 22 and 18 basis points, respectively.

Persons: Dow Jones Organizations: Treasury, Federal Reserve, PPI

☆ Why car insurance costs are skyrocketing and leading to higher inflation
▼ + stars: | 2024-04-11 | by ( Michael Wayland | ) www.cnbc.com time to read: +6 min

RobertCrum | Getty ImagesDETROIT – Skyrocketing auto insurance costs helped contribute to inflation accelerating at a faster-than-expected pace in March and are adding to the ever more expensive costs for U.S. vehicle owners. Auto insurance costs have been on the rise for some time, growing every month as part of the index since December 2021. However, auto insurance remains a small portion of the CPI, with a 2.85% weighting. watch nowThe insurance cost increases on inflation come more than two years after the Biden administration largely blamed used car prices for pushing inflation higher in January 2022. The cost of vehicle insurance — which is mandatory in almost every state — varies by provider, driver, coverage and location.

Persons: Sean Tucker, Kelley, David Sampson, Sampson, Biden, Mitchell, Power, —, it's, Price, Mark Garrett, — CNBC's Robert Ferris, Jeff Cox Organizations: Getty, DETROIT, U.S, Auto, U.S . Bureau of Labor Statistics, American, Casualty Insurance Association, CNBC, Progressive, Power's U.S . Auto Insurance, State Farm, Liberty Mutual Locations: U.S, Power's U.S, Geico, .

☆ What March's hotter-than-expected CPI report means for stocks
▼ + stars: | 2024-04-11 | 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 EmailWhat March's hotter-than-expected CPI report means for stocksNancy Curtin, Global Chief Investment Officer at AITi Tiedemann Global, and CEO and Portfolio Manager at Howard Capital Management, discuss what sticky inflation and the rate cut outlook mean for the markets.

Persons: Nancy Curtin Organizations: Global Chief, Howard Capital Management

☆ Gold drifts higher as geopolitical tensions lift safe-haven appeal
▼ + stars: | 2024-04-11 | by ( ) www.cnbc.com time to read: +2 min

An employee handles one kilogram gold bullion at the YLG Bullion International Co. headquarters in Bangkok, Thailand, on Friday, Dec. 22, 2023. Gold prices climbed on Thursday, recouping losses from the previous session, as geopolitical tensions bolstered demand for the safe-haven metal. Spot gold was up 0.6% at $2,345.56 per ounce, as of 0317 GMT. Strong central bank buying, safe-haven inflows amid continued geopolitical risks, and demand from momentum-following funds have fueled bullion's 14% gain so far this year. Spot silver edged 0.2% higher to $28.03 per ounce, after hitting its highest levels since June 2021 on Wednesday.

Persons: Yeap Jun Rong, Jun Rong Organizations: Co Locations: Bangkok, Thailand, U.S

☆ Wholesale prices rose 0.2% in March, less than expected
▼ + stars: | 2024-04-11 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

A measure of wholesale prices increased less than expected in March, providing some potential relief from worries that inflation will hold higher for longer than many economists had expected. Excluding food and energy, the core PPI also rose 0.2%, meeting expectations. The release comes a day after the BLS reported that consumer prices again rose more than expected in March, raising concerns that the Federal Reserve will be unable to lower interest rates anytime soon. However, wholesale prices for final demand food and goods less food and energy climbed 0.8% and 0.1%, respectively. That contrasted with the consumer price index, which showed gasoline up 1.7% on the month.

Persons: Dow Jones Organizations: Dow, Labor Department's Bureau of Labor Statistics, PPI, BLS, Federal Reserve, Labor Department, Group

☆ Goldman still expects U.S. inflation to fall significantly as markets alarmed by recent rise
▼ + stars: | 2024-04-11 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +1 min

Goldman Sachs still expects stubbornly high U.S. inflation to ease over the coming months, despite investors slashing bets for Federal Reserve interest rate cuts, after yet another print showed that consumer prices remain sticky. The CPI, a broad measure of goods and services costs across the economy, rose 0.4% for the month, putting the 12-month inflation rate at 3.5%. In the Goldman Sachs view, the U.S. CPI will fall back to 2.4% this year, down from the current annualized rate of 3.5%. We obviously have oil prices currently going up, and that's certainly something that has been a bit stronger than what we initially anticipated," Mueller-Glissmann said. He added that the inflationary impact of rising oil prices will likely be limited, because the bank expects that the Organization of the Petroleum Exporting Countries will eventually bring spare capacity online.

Persons: Goldman Sachs, Christian Mueller, Glissmann, CNBC's, Mueller Organizations: Federal Reserve, Labor Department's Bureau of Labor Statistics, U.S, CPI, of, Petroleum Locations: U.S, penciling

☆ The economy is sending mixed signals about a recession, and that's made the timing of the next rate cut less meaningful
▼ + stars: | 2024-04-11 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

The economy is sending mixed signals about a potential recession in the near future, according to Ned Davis Research. The conflicting data suggests the Fed should de-emphasize when it will cut interest rates. AdvertisementThe US economy is sending mixed signals about when the next recession will arrive. Other economic indicators that measure manufacturing activity have been improving lately and argue for a long runway of economic growth ahead. That advice appears especially poignant following the release of the hotter-than-expected March CPI report, which plunged the probability of the first Fed interest rate cut happening in June from 50% to about 20% and pushed out the likelihood of a rate cut to July.

Persons: Ned Davis, Joseph Kalish, Kalish, Powell Organizations: Ned Davis Research, NDR, Federal Reserve Locations: Europe

A hotter-than-expected inflation report has pushed back expectations for a Federal Reserve interest rate cut. This means mortgage rates are likely to remain elevated for longer than many forecasters had anticipated. This would keep mortgage rates elevated throughout the summer homebuying season, when many home shoppers will be looking to get a mortgage. "March inflation figures were very bad, which also means bad news for interest rates," Lawrence Yun, chief economist for the National Association of Realtors, said in a blog post reacting to March's CPI data. This means your entire monthly mortgage payment, including taxes and insurance, shouldn't exceed 28% of your pre-tax monthly income.

Persons: Lawrence Yun, you'll, Fannie Mae Organizations: Federal, Labor Statistics, National Association of Realtors, Zillow, Mortgage, Association, Sky Locations: Chevron

☆ New data shows inflation is still high. Here's how to measure how that affects you
▼ + stars: | 2024-04-11 | by ( Lorie Konish | ) www.cnbc.com time to read: +2 min

That may not be a surprise to consumers who are still feeling the weight of higher prices. Inflation — as measured by the consumer price index — rose 3.5% from a year ago and 0.4% for the month. The consumer price index, or CPI, tracks the average changes in prices over time for consumer certain goods and services. Consequently, if your wages haven't increased by that much over the same period, you're more likely to feel the pinch of higher prices. About 60% of households are living paycheck to paycheck, McBride said.

Persons: Kazuhiro Nogi, Brett House, Eugenio Aleman, Raymond James, Aleman, Greg McBride, McBride Organizations: Afp, Getty Images, Columbia Business School, Consumers, Bankrate Locations: Tokyo

☆ The inflation fight has stalled and the first rate cut won't happen until December, Bank of America says
▼ + stars: | 2024-04-11 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +2 min

Bank of America pushed back its forecast for the first rate cut of 2024 from June to December. The re-acceleration of inflation means markets should expect just a single 25 basis-point cut this year. AdvertisementThe recent string of unexpectedly high inflation readings has led Bank of America to push back its forecast for the first rate-cut of 2024 from June to December. Moreover, unfavorable base effects mean year-over-year core PCE inflation will probably not decline further between the June and September meetings," the note said. This would mean one-25bp rate cut this year, instead of our previous forecast of 75bp in rate cuts," analysts added.

Persons: —, Michael Gapen, Goldman Sachs, Larry Summers Organizations: of America, Service, Bank of America, RBC, US

☆ Jim Cramer shares his thoughts on Nike, Vertex Pharmaceuticals, CarMax, Airbnb, Visa and Mastercard
▼ + stars: | 2024-04-11 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +2 min

Nike : Analysts at Bank of America upgraded Nike to a buy rating. I think that's true, but don't pay up $2 for it," Jim Cramer said. "That's used car prices coming down," Cramer said, referring to one challenge the company faced in the quarter. Visa , Mastercard : TD Cowen's financial technology and consumer finance analysts initiated joint coverage of Visa and Mastercard with buy ratings. I think it's not resonating because these stocks are stocks that trade over time; they don't trade on a given day," Cramer said.

Persons: Jim Cramer's, They're, Jim Cramer, you've, Cramer, Needham Organizations: CNBC, Club, Nike, Analysts, Bank of America, Vertex Pharmaceuticals, Sciences, CPI, Benchmark, Visa, Mastercard Locations: Boston

☆ The Fed may have no choice but to tip the US into recession, economist says
▼ + stars: | 2024-04-11 | by ( Filip De Mott | ) www.businessinsider.com time to read: +1 min

The Fed might have to self-induce a recession if it wants to reach its target inflation rate, a BMO strategist said. Ian Lyngen told Bloomberg TV that the Fed might find its current monetary policy to not be restrictive enough. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe latest inflation report not only sent bond yields soaring and stocks plunging, it may also have put the US back on track for a recession, one economist told Bloomberg TV on Thursday.

Persons: Ian Lyngen, — Organizations: BMO, Bloomberg, Service, Federal Reserve, Federal, BMO Capital Markets, Business

☆ Asia markets tumble after hotter-than-expected U.S. inflation; China inflation on deck
▼ + stars: | 2024-04-11 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

Customers at a fresh food market in Shanghai, China, on Monday, Aug. 7, 2023. Asia-Pacific markets tumbled after U.S. inflation for March came in hotter than expected, climbing 3.5% on a year-on-year basis and 0.4% higher compared to the previous month. Economists surveyed by Dow Jones had been looking for a 0.3% month-on-month gain and 3.4% year-over-year. Excluding volatile food and energy components, the core CPI also accelerated 0.4% on a monthly basis while rising 3.8% from a year ago, compared with respective estimates for 0.3% and 3.7%. Investors in Asia will also monitor China's inflation figures Thursday, with economists polled by Reuters expecting the consumer price index to climb 0.4% in March.

Persons: Dow Jones Organizations: Investors, Reuters Locations: Shanghai, China, Asia, Pacific

☆ 2.5-3% inflation is the 'new norm', says TIAA's Neel Mukherjee
▼ + stars: | 2024-04-11 | 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 Email2.5-3% inflation is the 'new norm', says TIAA's Neel MukherjeeNeel Mukherjee, TIAA CIO for wealth management, joins 'Closing Bell Overtime' to talk the state of inflation in the U.S. and what the latest CPI and PPI reads say about the economy.

Persons: TIAA's Neel Mukherjee Neel Mukherjee Organizations: CPI, PPI Locations: U.S

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