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The Commerce Department reported retail sales rose 0.4% in April, at half the pace against an expected increase of 0.8%. "The retail sales data has been positive in several months, but it's still weak," said Jamie Cox, managing partner at Harris Financial Group. You are probably seeing the end of the decline in retail sales, but it's not going to be a smooth ride from here." "There is little chance we will see a resolution to the U.S. debt ceiling issue today," said Ipek Ozkardeskaya, senior analyst at Swissquote Bank. "The negotiations will likely remain tight as Republicans ask decent spending cuts to accept a debt ceiling relief, while Biden is not willing to compromise on spending into the election year."

The Commerce Department reported retail sales rose 0.4% in April, at half the pace against an expected increase of 0.8%. "The retail sales data has been positive in several months, but it's still weak," said Jamie Cox, managing partner at Harris Financial Group. You are probably seeing the end of the decline in retail sales, but it's not going to be a smooth ride from here." The S&P 500 retail index (.SPXRT) lost 0.6%. Shares of Capital One Financial Corp (COF.N) jumped 5.4%, rising the most on the S&P 500, after Berkshire Hathaway Inc (BRKa.N) on Monday disclosed it has begun investing in the consumer lender.

May 8 (Reuters) - PacWest Bancorp (PACW.O) shares pared early gains on Monday, dragging down other U.S. regional banking stocks, as the Los Angeles-based lender's decision to slash its quarterly dividend failed to stem worries about its financial stability. Other U.S. regional banks also retreated. REUTERS/Mike Blake/File Photo 1 2The KBW Regional Banking index (.KRX) fell 2.82% after gaining nearly 4.7%. But hedge funds, which often engage in short selling, pushed back on Monday, saying in a letter to Gensler that a ban would be counterproductive. Yellen said it is in the SEC's purview to regulate short selling although there is a high bar for any controls if evidence of market manipulation was found.

May 8 (Reuters) - PacWest Bancorp (PACW.O) shares pared early gains on Monday, dragging down other U.S. regional banking stocks, as the Los Angeles-based lender's decision to slash its quarterly dividend failed to stem worries about its financial stability. "The dividend cut is not a good sign," said Jamie Cox, managing partner at Harris Financial Group. Other U.S. regional banks also retreated. The KBW Regional Banking index (.KRX) fell 1.5% after gaining nearly 4.7%. "I have a general fear that smaller banks are going to disappear, and we're going to end up with just a few large banks."

☆ Watch CNBC’s Fed panel full interview ahead of the Fed decision
▼ + stars: | 2023-05-03 | 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 EmailWatch CNBC’s Fed panel full interview ahead of the Fed decisionHarris Financial Group's Jamie Cox, Societe Generale's Subadra Rajappa and Milken Institute's William Lee, join 'The Exchange' to discuss the looming Fed meeting, where another 25bps rate hike is expected.

☆ There isn't a banking crisis, the problem is banking supervision, says Milken's William Lee
▼ + stars: | 2023-05-03 | 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 EmailThere isn't a banking crisis, the problem is banking supervision, says Milken's William LeeHarris Financial Group's Jamie Cox, Societe Generale's Subadra Rajappa and Milken Institute's William Lee, join 'The Exchange' to discuss the looming Fed meeting, where another 25bps rate hike is expected.

☆ Stock futures are down slightly as investors prepare for Fed meeting: Live updates
▼ + stars: | 2023-05-01 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Stock futures are modestly lower Monday night as investors prepared for the Federal Reserve's May policy meeting to kick off. But the muted activity seen in Monday's regular session is typical in the days leading up to a Fed policy meeting, according to Jamie Cox, managing partner for Harris Financial Group. Members of the Federal Open Market Committee will begin their policy meeting Tuesday, with an announcement on interest rates and a subsequent press conference expected Wednesday. "Markets just sit around and wait until the Fed meeting begins, and then the positioning starts," Cox said. Beyond the start of the Fed meeting Tuesday, investors will watch for data on job openings, factory orders and light vehicle sales on the economic front.

☆ Watch CNBC's full interview with Harris Financial Group's Jamie Cox and Manulife's Frances Donald
▼ + stars: | 2023-04-20 | 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 EmailWatch CNBC's full interview with Harris Financial Group's Jamie Cox and Manulife's Frances DonaldJamie Cox, managing partner at Harris Financial Group, and Frances Donald, chief economist and strategist at Manulife Investment Management, join 'The Exchange' to discuss the accumulating effect of interest rate policy, indicators of a recession, and the rise in jobless claims.

☆ Nearly every data indicator suggests an impending recession, says Manulife's Jamie Cox
▼ + stars: | 2023-04-20 | 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 EmailNearly every data indicator suggests an impending recession, says Manulife's Jamie CoxJamie Cox, managing partner at Harris Financial Group, and Frances Donald, chief economist and strategist at Manulife Investment Management, join 'The Exchange' to discuss the accumulating effect of interest rate policy, indicators of a recession, and the rise in jobless claims.

☆ Wall St Week Ahead Consumer stocks' earnings may offer clues on U.S. economy’s resilience
▼ + stars: | 2023-04-14 | by ( David Randall | ) www.reuters.com time to read: +5 min

Companies in the consumer discretionary spending sector reporting next week include Tesla Inc (TSLA.O), Netflix Inc (NFLX.O) and AutoNation Inc (AN.N). Reuters GraphicsGrowing recession fears over the last year have already prompted many consumer discretionary companies to cut costs to boost margins, which may lead to positive earnings surprises this quarter, Melson said. Part of that expected growth comes from a job market that has remained robust, helping buoy consumer spending, said Jamie Cox, managing partner for Harris Financial Group. Meanwhile, U.S. consumer sentiment inched up in April, but households expected inflation to rise over the next 12 months. Sandy Villere, a portfolio manager at Villere & Co, has winnowed his holdings of consumer discretionary stocks in anticipation of a recession later this year.

☆ How the banking crisis clipped the Fed's wings
▼ + stars: | 2023-03-22 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

The message was clear: Buckle up, America — we are going to keep raising rates and get inflation down, come hell or high water. Silicon Valley Bank collapsed, followed by Signature Bank, stirring fears of a 2008-like financial calamity. “We no longer state that we anticipate that ongoing rate increases will be appropriate to quell inflation,” Powell said. How’d Wall Street take the news? But the mood on Wall Street turned sour in response to both Powell’s comments and remarks from Treasury Secretary Janet Yellen, who was testifying before Congress at the same time.

☆ Investors are still worried about a run on deposits of some ailing banks while massive lifelines buy more time
▼ + stars: | 2023-03-18 | by ( Filip De Mott | ) www.businessinsider.com time to read: +4 min

Shares of First Republic and Credit Suisse continued to sell off despite massive lifelines. First Republic is receiving $30 billion in deposits from Wall Street giants and large regional banks. Meanwhile, Switzerland's central bank provided Credit Suisse with $54 billion in liquidity. In the case of Credit Suisse, depositors have been fleeing since well before SVB failed. Bank mergers could help, and UBS is in talks to acquire all or parts of Credit Suisse, according to reports.

☆ The CD Market Is Doing Something Strange—and It Could Have a Big Impact on Your Money
▼ + stars: | 2023-03-14 | by ( ) www.wsj.com time to read: +8 min

CD rates have been rising rapidly over the past year, thanks to the Federal Reserve’s efforts to fight inflation. And there’s potentially a bigger issue at play: Regardless of where you stick your cash, interest rates’ odd behavior suggests the economy may be out of whack. CD rates have climbed dramatically since the Federal Reserve embarked on its campaign to fight inflation, which peaked at nearly 10% late last year. But the Fed faces a conundrum: Hiking interest rates to fight inflation also slows economic growth. Short term rates remain high, while longer term rates—reflecting grim economic prospects in years to come—fall off.

☆ 'This is a warning to the Fed': Wall Street reacts to the collapse of Silicon Valley Bank, the biggest bank failure since 2008
▼ + stars: | 2023-03-10 | by ( Phil Rosen | ) www.businessinsider.com time to read: +4 min

Regulators shut down Silicon Valley Bank on Friday, putting it into FDIC receivership. I think doing nothing would've been negative, but getting involved stops things in their tracks," Wright told Insider. Nancy Tengler, chief executive and chief investment officer, Laffer Tengler Investments"Often what we get from regulators, they close the barn door after the horses are out of the barn," Tengler told Insider. It's not like interest rates haven't been rising for a year. Jamie Cox, managing partner, Harris Financial Group"When the Fed jacks up interest rates 500 basis points in a matter of months, things like SVB happen," Cox told Insider.

☆ Premarket stocks: Jerome Powell's testimony sent markets reeling. That may be a good thing
▼ + stars: | 2023-03-08 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

New York CNN —Federal Reserve Chairman Jerome Powell on Tuesday cleared the way for larger interest rate hikes at this month’s central bank policy meeting, sending markets into a tailspin. The S&P 500 fell 1.5%, the Dow dropped 575 points, or 1.7%, and the tech-heavy Nasdaq composite ended 1.3% lower. After Powell’s testimony, market expectations for a half-percentage point rate hike spiked. If inflation fails to continue falling, he said, the Fed will keep trying to cool things down by raising rates. Even if Powell was sure that January’s economic data was a fluke, he still wants to maintain the Fed’s credibility.

☆ Stock futures are flat as investors look ahead to economic data, Federal Reserve speeches
▼ + stars: | 2023-01-18 | by ( Carmen Reinicke | ) www.cnbc.com time to read: +2 min

Stock futures were flat Wednesday night as investors awaited economic data and speeches from Federal Reserve leadersFutures tied to the Dow Jones Industrial Average fell 9 points, or 0.03%. S&P 500 futures and Nasdaq 100 futures ticked up 0.03% and 0.05%, respectively. Bank stocks such as JPMorgan, Bank of America and Wells Fargo slid, weighing on the broader market. "The data continue to confirm sharp declines in inflation," said Jamie Cox, managing partner of Harris Financial Group. On Thursday, investors will weigh more economic data that could give further clues as how much the Fed may raise interest rates in its upcoming meeting.

☆ Cox: Investing in the healthcare sector is a way to overcome the strong dollar
▼ + stars: | 2023-01-09 | 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 EmailCox: Investing in the healthcare sector is a way to overcome the strong dollarJamie Cox, Managing Partner at the Harris Financial Group, joins Worldwide Exchange to discuss his investment strategy.

☆ Some People Are Getting 14 Times the Average Savings Account Rate. Here Are the Best Offers
▼ + stars: | 2022-11-10 | by ( ) www.wsj.com time to read: +6 min

By Martha C. WhiteAfter years of earning essentially zilch on your cash, it’s finally possible to see a real return in your savings account. (Capital One 360 Performance Savings remains our pick for Best Overall Savings Account.) Strategies to find the best savings ratesThere are a few places you can search for a savings account that offers high interest—and a couple of caveats to keep in mind. Try an aggregatorSites that aggregate banking offers can be a good place to start your search for a high-yield savings account. With lower overhead than their bricks-and-mortar counterparts, these businesses have more leeway to offer higher rates on deposits.

☆ Stock futures slip after major averages register two days of losses
▼ + stars: | 2022-10-20 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Stock futures are down as investors came out of a tumultuous day with bond yields rising and wide-ranging corporate earnings. Futures for the Nasdaq 100 slipped 0.6%, while futures linked to the Dow Jones Industrial Average lost 36 points or 0.1%. The indexes saw a second consecutive day of slides during regular trading, with the Dow shedding 90.22 points, or 0.3%. It was a day that started on better footing for the Dow, which hit nearly 400 points at session highs, but rising Treasury yields slashed threw cold water on stocks. But Snap and Robert Half were among those sliding after those companies posted results that fell short of expectations.

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