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☆ U.S. Treasury yields inch higher ahead of Fed-favored inflation measure
▼ + stars: | 2024-02-29 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

ET, the 10-year Treasury yield was up by over one basis point to 4.2915%. The yield on the 2-year Treasury was more than one basis point higher to 4.6643%. U.S. Treasury yields were slightly higher on Thursday as investors awaited the release of the Federal Reserve's preferred inflation measure. Investors looked ahead to the release of the personal consumption expenditures report for January, which could provide clues about the outlook for interest rates. If January's reading comes in higher than expected, markets may take it as a signal that inflation is stickier than previously expected and interest rates could stay elevated for longer.

Persons: Dow Jones, John Williams Organizations: Treasury, U.S, Federal, PCE, New York Federal

☆ Stock futures fall as Wall Street awaits the Fed's preferred inflation gauge: Live updates
▼ + stars: | 2024-02-28 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Stock futures fell as Wall Street weighed the latest earnings results and looked ahead to the Federal Reserve's favored inflation gauge. Futures tied to the Dow Jones Industrial Average slipped 80 points, or 0.2%. The S&P 500 futures and Nasdaq 100 futures edged down 0.2% and 0.25%, respectively. The 30-stock Dow lost 0.06% and fell for a third consecutive session, while the S&P 500 inched down 0.17%. The S&P 500 has jumped 4.6%, while the Dow has added 2.1%.

Persons: Salesforce, Okta, Joe Mazzola, Charles Schwab's, Dow, John Williams Organizations: New York Stock Exchange, Stock, Federal, Dow Jones, Nasdaq, Dow, Hewlett Packard Enterprises, Bath, Body, New York Federal Reserve Bank Locations: Snowflake, Chicago

☆ Americans have racked up a trillion dollars in credit card debt. That’s actually okay
▼ + stars: | 2024-02-25 | by ( Bryan Mena | ) edition.cnn.com time to read: +8 min

Washington, DC CNN —Americans racked up a record amount of credit card debt in 2023, soaring past a trillion dollars. “Consumers still have a lot of money left over to be able to spend, so the credit card data is often misinterpreted,” Russell Price, chief economist at Ameriprise Financial, told CNN. According to a LendingTree analysis of more than 350,000 credit reports, the average unpaid credit card balance was $6,864 in the fourth quarter. Overall, US household debt (including credit card balances) rose to a new high of $17.5 trillion in the fourth quarter, up 1.2% from the prior three-month period. So, while there certainly isn’t a shortage of economic hurdles bedeviling people’s budget — and credit card debt has surged — the big picture indicates that, so far, Americans (and their economy) remain healthy.

Persons: ” Russell Price, Price, haven’t, market’s, ” Gregory Daco, ” Lara Rhame, Laura, Jensen Huang, Christine Lagarde, Virgin, Michael Barr, Raphael Bostic, Susan Collins, John Williams, Papa, Austan Goolsbee, Loretta Mester, fuboTV, Christopher Waller, Mary Daly, Adriana Kugler Organizations: CNN Business, Bell, DC CNN, Workers, New York Fed, Consumers, Ameriprise, CNN, Federal Reserve Bank of New, . New York Fed, Employers, Soaring, FS Investments, Nvidia, Huawei, AMD, Microsoft, Broadcom, US Commerce Department, Central Bank, eBay, Smucker, Urban Outfitters, Global, Board, TJX, Monster Beverage, Baidu, HP, Paramount Global, Anheuser, Busch Inbev, Dell Technologies, Papa John’s, US Labor Department, National Association of Realtors, P, China’s National Bureau, Statistics, Pearson, P Global, Institute for Supply Management, University of Michigan Locations: Washington, Federal Reserve Bank of New York, ., EY, Santa Clara, Singapore, Shenzhen, China, Beijing, CAVA

☆ Wall Street will try to maintain AI-fueled momentum in the final week of February, as inflation concerns linger
▼ + stars: | 2024-02-23 | by ( Sarah Min | ) www.cnbc.com time to read: +8 min

In the final week of February, Wall Street will strive to maintain its AI-fueled rally even as economic concerns linger and the Federal Reserve's favorite inflation measure is on deck. But many worry the writing is on the wall for these market leaders as economic and inflation risks linger. The 'lone cloud' of inflation The Fed's preferred inflation gauge will also be released in the week ahead. Investors are concerned that sticky inflation will mean that the Fed will hold onto its higher-for-longer interest rate policy. Next week will also be the final week of February, with stocks headed for another strong month of gains.

Persons: Goldman Sachs, Patrick McDonough, Europe's, PGIM's McDonough, McDonough, Charlie Ashley, Dhaval Joshi, Joshi, Ashley, John Williams, TJX Cos Organizations: Dow Jones Industrial, Nasdaq, Nvidia, Japan's Nikkei, Catalyst Funds, BCA Research, CPI, PPI, Dow, New, Dallas Fed, Fidelity National Information Services, Richmond Fed, eBay, Enterprise, Cruise Line Holdings, New York Federal Reserve Bank, York, Monster Beverage, Paramount Global, PCE Deflator, Chicago PMI, . Kansas City Fed Manufacturing, Hewlett Packard Enterprise, Autodesk, Body, Hormel, PMI, Manufacturing Locations: U.S, Lowe's, Chicago, . Kansas, Michigan

Here’s everything you need to know about this year's show:When are the Oscars? The Oscars will be held Sunday, March 10, at the Dolby Theatre in Los Angeles. This is your early reminder to set your clocks accordingly — it's the first day of daylight saving time in the U.S.Are the Oscars streaming? What's nominated for Best Picture at the 2024 Oscars? Godzilla is going to the Oscars for the first time, with “Godzilla Minus One” notching a nomination for best visual effects.

Persons: “ Oppenheimer, “ Barbie, Jimmy Kimmel, Whoopi Goldberg, Jack Lemmon, Kimmel, Johnny Carson, Billy Crystal, Bob Hope, Oscar, “, What's, Barbie ”, Maestro ”, ’, Greta Gerwig, Margot Robbie, “ Barbie ”, Gerwig, Noah Baumbach, America Ferrera, Billie Eilish's, Mark Ronson, Andrew Wyatt, Ken, ”, John Williams, “ Indiana Jones Organizations: Golden Globes, Dolby Theatre, ABC, Hulu Live, America, “ Locations: Los Angeles, U.S

☆ Grammy Awards winners list (updating live)
▼ + stars: | 2024-02-04 | by ( Lisa Respers France | ) edition.cnn.com time to read: +5 min

CNN —Winners of the 66th Grammy Awards, the music industry’s top prize, are being presented on Sunday. The ceremony is taking place in rainy Los Angeles, where Trevor Noah is hosting the event for a fourth time. The nominees in several top fields can be found below. Winners are indicated in bold and are being updated live throughout the show. The full list of winners in all 94 Grammy categories can be found here.

Persons: Trevor Noah, SZA, Phoebe Bridgers, Billie Eilish, Barbie ”, “ Oppenheimer ”, Taylor Swift, “, ” She’s, ”, Janelle Monáe, Jon Batiste, Lana Del Rey, Miley Cyrus, Olivia Rodrigo, Eilish, Bill ” Taylor Swift, Victoria, Coco Jones Gracie Abrams Fred, Noah Kahan Victoria Monét, Kelly Clarkson, Ed Sheeran, ” Taylor Swift, Brandi Carlile, Miles ” SZA, Karma, Jack Antonoff Dernst, ” Emile II, Daniel Nigro, Edgar Barrera Jessie Jo Dillon Shane McAnally Theron Thomas, Justin Tranter, Mike, “ Michael ”, ” Nas, Travis Scott, Kendrick Lamar, ” Drake, Rich, Osborne, “ Brothers Osborne ” Kelsea, ” Lainey Wilson, Tyler Childers, “ Rustin ’, Zach Bryan, Zach Bryan ”, Brandy Clark, Chris Stapleton, Dolly Parton, Luke Combs, Greta Van, Coco Jones, Emily King, Walker, Chris Brown, Robert Glasper, Alex Isley, Bill ” Victoria, ” PJ Harvey, Amapiano ” Burns, David, Ayra Starr, ” Tyla, “ Barbie, ” Mark Ronson, Andrew Wyatt, ” Ludwig Göransson, ” John Williams, “ Indiana Jones, “ Oppenheimer Organizations: CNN, “, Swift, Hit Boy Metro, Drake, Metro Boomin, “ Scientists, Engineers, Queens, Pumas, Foo, Boys Locations: Los Angeles, Dua Lipa

☆ The Federal Reserve is fed up with data revisions
▼ + stars: | 2024-01-31 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +11 min

Federal Reserve Governor Christopher Waller said large revisions in data are tainting his assessments of how the economy is doing. Al Drago/Bloomberg/Getty ImagesThat’s well above the average month-over-month revised change in job totals from 1973 to the latest available revision data, according to the BLS. The official summary of what Fed officials said and discussed during their September meeting — also known as the Fed minutes — stated: “A few participants observed that there were challenges in assessing the state of the economy because some data continued to be volatile and subject to large revisions.”Spokespeople from the Federal Reserve declined to answer which data Fed officials were referring to. Frequent and large revisions to economic data are weighing on Federal Reserve decision-making, Governor Michelle Bowman said. “We want to be data dependent, but not data point dependent,” Williams said.

Persons: Christopher Waller, Waller, it’s, Al Drago, ” Waller, ”, Michelle Bowman, —, Spokespeople, he’s, don’t, Erica Groshen, David Wilcox, Laura Kelter, Kelter, Groshen, Wilcox, John Williams, ” Williams, “ Organizations: New, New York CNN — Federal Reserve, ”, of Labor Statistics, BLS, Federal, Bloomberg, Getty, Fed, Ohio Bankers League, Federal Reserve, Commerce Department, Department, Census, Labor, Peterson Institute for International Economics, Employment, CNN, Wilcox . New York Fed Locations: New York, Wilcox . New

☆ 5 reasons to be unapologetically thrilled about this year’s Oscar nominations
▼ + stars: | 2024-01-28 | by ( Dan Heching | ) edition.cnn.com time to read: +8 min

CNN —The nominations for the 96th Academy Awards were revealed last week and – as they so often do – caused quite a stir. Co-written and directed by Triet, “Anatomy of a Fall” is nominated for five Oscars this year in total, including for best original screenplay and best picture. That gives Williams more Academy Award nominations than any other living person. According to the Academy, the late Walt Disney holds the overall record of career nominations, with a grand total of 59. Still, it seemed to be a role destined for Brooks, who received a Tony Award nomination in 2016 for playing the same character in the Broadway revival of the musical.

Persons: Barbie’s, Greta Gerwig, Margot Robbie, Ryan Gosling, there’s, we’re, Justine Triet, Palme, Sarah Meyssonnier, Triet, Sandra Hüller, Barbie ”, Colman Domingo, Bayard Rustin, Rustin, David Lee, Steven Spielberg’s “, ” Domingo, “ Rustin, ”, Domingo, – Ian McKellen, Jodie Foster, Bonnie Stoll, Anthony Allen Ramos, ” Ramos, ” Cord Jefferson, Cord Jefferson, Claire Folger, Jeffrey Wright, Cord Jefferson’s, Jefferson, he’s, Trayvon Martin, Mike Brown, ’ ”, Percival Everett, Wright, Sterling K, Brown, John Williams, Ray Dolby, Michael Kovac, “ Indiana Jones, ” Williams, Oscar, Williams, Walt Disney, Danielle Brooks, Eli Ade ´, ” Brooks, Oprah Winfrey, Spielberg, Alice Walker, Brooks, “, Corey Hawkins, Harpo Organizations: CNN, Cannes Film, Reuters, “, Netflix, Orion, Jefferson, Hollywood & Highland Center, Academy of Motion Picture Arts and Sciences, Academy, Warner Bros, Entertainment Inc, Broadway, Juilliard Locations: Cannes, France, German, Steven Spielberg’s “ Lincoln, “ Nyad, Hollywood, Sofia, New York City

LOS ANGELES (AP) — A look at notable facts, figures and curiosities from Tuesday's nominations for the 96th Academy Awards, which saw “Oppenheimer” lead with 13 Oscar nominations, with “Poor Things” and “Killers of the Flower Moon” also running up big numbers. Like her “Nyad” co-star Annette Bening, she got her fifth Oscar nomination for the based-on-a-true-story swimming drama from Netflix, and it's Foster's first in 29 years. Williams has been nominated a staggering 54 times — 49 for original score and five for original song, making him the most nominated living person. MORE 2024 OSCAR FACTS AND FIGURESThe best actor category includes three first-time Oscar nominees: Domingo, Jeffrey Wright and Cillian Murphy. And speaking of best original song, no running of the recent Oscar numbers would be complete without a nod to Diane Warren.

Persons: “ Oppenheimer, Oscar, Jodie Foster, Martin Scorsese's, Nyad ”, Annette Bening, it's, Nell ”, Foster, Emily Blunt, Danielle Brooks, America, Da’Vine Joy Randolph, isn't, Judd Hirsch, Henry Fonda, Helen Hayes, ”, Colman Domingo —, “ Rustin ” —, JOHN WILLIAMS, ’ John Williams, Indiana Jones, Williams, Walt Disney’s, WOMEN'S, WOMEN, Barbie ”, Greta Gerwig, Justine Triet, Celine Song, –, Margot Robbie's, “ Barbie ”, Robbie, “ Barbie, Gerwig, It's, Noah Baumbach, SPIELBERG, SCORSESE Steven Spielberg, Spielberg, “ Maestro, ” He’ll, Bradley Cooper, Scorsese, William Wyler, John Huston’s, “, Domingo, Jeffrey Wright, Cillian Murphy, Paul Giamatti, Cooper, It’s, Ken ”, Diane Warren, She'll Organizations: ANGELES, Netflix, Lambs, “ Airport, ”, nab Locations: La

The hyper-competitive original song and original score categories include nominees from the films “Barbie'' to ”Oppenheimer'' and beyond. Diane Warren, original song nomination for “The Fire Inside” from “Flamin’ Hot.”Warren describes the song as bringing “a little reggaeton to the Oscars.”"I’m thrilled. Mark Ronson, original song nomination for “I'm Just Ken” from “Barbie”Ronson wrote “I'm Just Ken” with Andrew Wyatt. Thank you.”Academy-award winner Ludwig Göransson, original score nomination for “Oppenheimer”This is Göransson's third nomination. And everyone’s really proud of one another.”Laura Karpman, original score nomination for “American Fiction”This is Karpman's first Oscar nomination.

Persons: Diane Warren, Mark Ronson, Andrew Wyatt, Billie Eilish, Barbie, ” Oppenheimer, Warren, Ronson, Wyatt, “ I’m, Ken ”, “ Barbie, ” Jon Batiste, Dan Wilson, Scott George, “ Wahzhazhe, Eilish, O’Connell, James Bond, ” Mark Ronson, Lady Gaga, Anthony Rossomando, ” Laura Karpman, Indiana Jones, ” John Williams, ” Robbie Robertson, “ Oppenheimer, ” Ludwig Göransson, Jerskin Fendrix, Karpman, It's, Fendrix —, he's, ”, Dave Mullins, Brad Booker, John, Yoko, ” Warren, I’m, I’ve, It’s, There’s, “ I'm, “ Barbie ” Ronson, “, Ken ’, Greta, Ryan, Gosling, Ken, —, Batiste, Suleika, Finneas O'Connell, Finneas, Ludwig Göransson, Oscar, Chris Nolan, Nolan, Laura Karpman, Martin Scorsese, Robbie Robertson, Mullins, Booker's, MULLINS, BOOKER, Sean, Lennon Organizations: ANGELES, ”, Music, Academy, ” Academy Locations: “

☆ Martin Scorsese and John Williams just made Oscars history
▼ + stars: | 2024-01-23 | by ( Lisa Respers France | ) edition.cnn.com time to read: +1 min

CNN —Someone forgot to tell Martin Scorsese and John Williams about the often complained issue of ageism in Hollywood. Composer John Williams became the oldest Oscar nominee on Tuesday at age 91. Carlo Allegri/Getty Images North America/Getty ImagesLegendary composer John Williams’ work on “Indiana Jones and the Dial of Destiny” earned him his 49th Oscar nomination for original score. With a total of 54 career Oscar nominations when including original song, Williams has more Academy Award nominations than any living person. According to the Academy of Motion Picture Arts and Sciences that is responsible for the awards show, the late Walt Disney held the overall record with 59 total Oscar nominations.

Persons: Martin Scorsese, John Williams, Scorsese, John Huston, “, ”, William Wyler, Lily Gladstone, Robert De Niro, Carlo Allegri, John Williams ’, Indiana Jones, Oscar, Williams, Walt Disney Organizations: CNN, North, Getty, Academy of Motion Picture Arts and Sciences, “, Wars Locations: Hollywood, North America

☆ Fed’s Barkin: March rate cut isn’t out of the picture. ‘You make the call when you get to the meeting’
▼ + stars: | 2024-01-22 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +5 min

The positive economic developments as well as Fed officials’ forecasts for at least three rate cuts this year had investors eying a March pivot. Meanwhile, Barkin — who will also be voting on Fed policy decisions at meetings this year — isn’t ruling March out entirely. For Barkin, “the breadth of inflation settling” and “the consistency of inflation settling” matter in his evaluation of whether the inflation rate is approaching the Fed’s target. Unlike many Fed officials, Barkin does not have a PhD in economics but has an MBA and a law degree. Investors will be paying close attention to any hints of the timing of rate cuts in the central bank’s latest statement and Fed Chair Jerome Powell’s press conference.

Persons: Tom Barkin, Barkin, eying, Christopher Waller, “, Loretta Mester, Barkin —, isn’t, ” Barkin, ”, ” ‘ There’s, John Williams, Jerome Powell, Williams, “ There’s, Jerome Powell’s Organizations: New, New York CNN, Richmond Federal, CNN, Fed, Cleveland Fed, FactSet, Richmond Fed, McKinsey, ” New York Fed, Raleigh Chamber of Commerce, That’s Locations: New York

☆ Two important events this week could determine the future of Fed rate policy
▼ + stars: | 2024-01-21 | by ( Jeff Cox | ) www.cnbc.com time to read: +4 min

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., January 19, 2024. A day later, the Commerce Department will release the December reading on the personal consumption expenditures price index, a favorite Fed inflation gauge. "That's the thing that everybody should be watching to determine what the Fed's rate path will end up being," Chicago Fed President Austan Goolsbee said during an interview Friday on CNBC. On top of that, several of Goolsbee's colleagues, including Governor Christopher Waller, New York Fed President John Williams and Atlanta Fed President Raphael Bostic, issued commentary indicating that at the very least they are in no hurry to cut even if the hikes are probably done. watch now"I don't like tying my hands, and we still have weeks of data," Goolsbee said.

Persons: Brendan Mcdermid, Dow Jones, Austan Goolsbee, Christopher Waller, John Williams, Raphael Bostic, Goolsbee Organizations: New York Stock Exchange, Reuters Markets, Federal Reserve, Commerce Department, Chicago Fed, CNBC, Group, Christopher Waller , New York Fed, Atlanta Fed, Labor Department Locations: New York City, U.S, Christopher Waller , New

☆ Stock futures are little changed on Tuesday evening: Live updates
▼ + stars: | 2024-01-16 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Traders on the floor of the New York Stock Exchange (NYSE) in New York, on Tuesday, Jan. 3, 2023. Stock futures were flat in overnight trading following a losing session to kick off the holiday-shortened trading week. Futures tied to the Dow Jones Industrial Average hovered near the flatline, along with S&P 500 futures . Interactive Brokers lost nearly 3% in extended trading after posting fourth quarter adjusted earnings that fell short of expectations. The Federal Reserve's beige book and business inventories for November are also slated for Wednesday, along with remarks from New York Federal Reserve Bank President and CEO John Williams.

Persons: Stocks, Christopher Waller, Goldman Sachs, Morgan Stanley, Jeffrey Buchbinder, Dow Jones, Charles Schwab, John Williams Organizations: New York Stock Exchange, Stock, Dow Jones, Nasdaq, Interactive, Federal Reserve, Dow, Bank of America, LPL, U.S . Bancorp, New York Federal Reserve Bank Locations: New York, New

In December, the policymakers collectively forecast that they would cut their rate three times this year. The Fed prefers for inflation to be about 2%, which it sees as having little negative effect on the economy. Fed officials, he added, will want to see further evidence that inflation is still on track to 2% before embarking on rate cuts. Before Waller spoke, Wall Street investors had placed a 72% likelihood of a rate cut in March, based on futures prices. Waller's comments followed similarly optimistic remarks from John Williams, president of the Federal Reserve Bank of New York, last week.

Persons: Christopher Waller, ”, ” Waller, Waller, Krishna Guha, Waller's, ” Guha, John Williams, Williams, Powell's, ” Williams Organizations: WASHINGTON, Federal, Fed's, of Governors, Fed, Wall Street, Brookings Institution, “, Federal Reserve Bank of New Locations: Federal Reserve Bank of New York

☆ The Fed could cut interest rates as early as the first quarter of 2024. Here are 7 quotes from central bankers that hint at what comes next.
▼ + stars: | 2023-12-05 | by ( Phil Rosen | ) www.businessinsider.com time to read: +3 min

Markets are betting the Federal Reserve will cut interest rates as soon as early 2024. AdvertisementWall Street largely anticipates that the Federal Reserve has finished its interest rate-hiking cycle, and markets are betting central bankers will begin easing policy soon. Tom Barkin, Federal Reserve Bank of Richmond president, November 29: "If inflation comes down naturally and smoothly, awesome. Mary Daly, Federal Reserve Bank of San Francisco president, November 30: "I'm not thinking about rate cuts at all right now. John Williams, Federal Reserve Bank of New York president, November 30: "My assessment is that we are at, or near, the peak level of the target range of the federal funds rate."

Persons: Jerome Powell, —, CME's, Christopher Waller, Tom Barkin, Raphael Bostic, Mary Daly, John Williams, Williams Organizations: Federal Reserve, Service, ING, Barclays, Federal Reserve Bank, Richmond, Federal Reserve Bank of Atlanta, Federal Reserve Bank of San Francisco, Federal Reserve Bank of New York, Federal

☆ Underlying US inflation pressures eased in October, NY Fed says
▼ + stars: | 2023-12-04 | by ( Michael S. Derby | ) www.reuters.com time to read: +2 min

[1/2] A man passes by The Federal Reserve Bank of New York in New York City, U.S., March 13, 2023. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsNEW YORK, Dec 4 (Reuters) - Underlying inflation pressures eased in October compared to the prior month, according to a report released on Monday by the Federal Reserve Bank of New York. The bank said that its Multivariate Core Trend (MCT) inflation reading for October stood at 2.6%, from September’s 2.88%. The NY Fed MCT index is designed to measure inflation persistence and how broadly price pressures are changing. The NY Fed MCT reading has tracked a broader retreat in price pressures.

Persons: Brendan McDermid, Jerome Powell, John Williams, Powell, Williams, Michael S, Mark Porter, Bill Berkrot Organizations: Federal Reserve Bank of New, REUTERS, NY, New York Fed, Fed, Thomson Locations: Federal Reserve Bank of New York, New York City, U.S, September’s

☆ Fed Chair Powell: Too early to say when to expect rate cuts
▼ + stars: | 2023-12-01 | by ( Bryan Mena | ) edition.cnn.com time to read: +5 min

While Powell and other officials say they’re not even thinking about cutting rates just yet, some investors expect cuts to begin around the middle of next year. With Treasury yields sliding in recent weeks, so have mortgage rates, and rate cuts next year would help that along. Inflation, spending and mortgagesConsumer spending and inflation both eased in October, the Commerce Department reported Thursday. What Fed officials are sayingFed officials have broadly acknowledged that economic conditions are setting the stage for inflation to continue its descent. While some Fed officials have expressed optimism, others remain unconvinced that the Fed’s job is done.

Persons: Jerome Powell, ” Powell, ”, Powell, they’re, Freddie Mac, Christopher Waller, John Williams, “ We’ve, Michelle Bowman, “ Organizations: DC CNN — Investors, Federal, Spelman College, Treasury, Fed, December’s Fed, Commerce Department, ”, Washington . New York Fed, New York Fed Locations: Washington, Atlanta, September’s, America, doldrums, Washington . New, Salt Lake City

☆ Stock Market Today: Dow Futures Edge Up After Index Notches 2023 High
▼ + stars: | 2023-12-01 | by ( ) www.wsj.com time to read: +1 min

Futures tied to major U.S. equity indexes are split between small gains and losses, while Treasury yields are inching down. Look out for any pushback against the notion, gripping the bond market, that the central bank will soon cut interest rates. November was the best month for the S&P 500 since July last year. They were volatile on Thursday, after Fed Bank of New York President John Williams said he thought it best to keep interest rates high for some time. In Hong Kong, the Hang Seng Index dropped more than 1.2% to close at its lowest in more than a year.

Persons: Jerome Powell, Powell, Dow, John Williams, Brent Organizations: Federal, Dow industrials, Nasdaq, Treasury, Fed Bank of New York Locations: Atlanta, Europe, Hong Kong

While the Dow rose to 35,725.11 points, crossing its intraday high of 35,679.13 points hit in August, all three main indexes were on course for their strongest November since 2020. The S&P 500 (.SPX) and the tech-heavy Nasdaq (.IXIC) were also poised for their biggest monthly percentage gain since July 2022, on signs of cooling price pressures. The personal consumption expenditure (PCE) index - the Fed's preferred inflation gauge - showed inflation remained unchanged in October on a monthly basis, against economists' projections of a 0.1% increase. Core inflation, which excludes volatile food and energy prices, rose 0.2% on a monthly basis, in line with estimates. But most megacap stocks edged lower, with Tesla (TSLA.O) down 1.4% and leading declines, keeping the S&P 500 (.SPX) and Nasdaq (.SPX) under pressure.

Persons: Caitlin Ochs, Salesforce, Dow Jones, Dow, Anthony Saglimbene, Mary Daly, John Williams, Jefferies, Shristi Achar, Shinjini Organizations: New York Stock Exchange, REUTERS, Companies, Dow, Nasdaq, Reserve, U.S, Treasury, Fed, San Francisco Fed, Bank of New York, Dow Jones, Inc, NYSE, Thomson Locations: New York City, U.S, Troy , Michigan, Bengaluru

☆ Fed's favorite gauge shows inflation rose 0.2% in October and 3.5% from a year ago, as expected
▼ + stars: | 2023-11-30 | by ( Jeff Cox | ) www.cnbc.com time to read: +4 min

The personal consumption expenditures price index, excluding food and energy prices, rose 0.2% for the month and 3.5% on a year-over-year basis, the Commerce Department reported. Energy prices fell 2.6% on the month, helping keep overall inflation in check, even as food prices increased 0.2%. Goods prices saw a 0.3% decrease while services rose 0.2%. On the services side, the biggest gainers were international travel, health care and food services and accommodations. I'm hearing normalizing, not recession, but I am hearing consumer slowing down."

Persons: Dow Jones, Stocks, Bonds, Bill Adams, John Williams, Thomas Barkin Organizations: Federal Reserve, Commerce Department, Energy, Dow Jones, Treasury, Labor, Fed, Labor Department, Comerica Bank, . New York Fed, Richmond Fed, CNBC, European Central Bank, CNBC PRO Locations: ., New York

☆ Dow gains 520 points as US stocks notch their best month this year
▼ + stars: | 2023-11-30 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +3 min

New York CNN —The Dow reached a new high for the year Thursday as easing inflation data and strong third quarter earnings from Salesforce shot the benchmark index 520 points, or 1.5% higher. The S&P 500 rose more than 8% this month and the Nasdaq was up about 10%, marking their best month since July 2022. The Dow, meanwhile, managed to shake off a three-month losing streak, also rising by about 8.8% and notching its best month since October 2022. October’s Personal Consumption Expenditures Index, the Fed’s favored inflation gauge, fell to its lowest level since the spring of 2021. Analysts expect that the stock market’s strong performance will continue through December in a so-called Santa Claus rally.

Persons: Dow, John Williams, it’s, Santa Claus, “, ”, Cory Mitchell Organizations: New, New York CNN, Nasdaq, Nvidia, Meta, of Labor, Federal Reserve, New York Fed, Saudi Press Agency, Analysts Locations: New York, United States, Saudi Arabia, Santa

Fresh data shows price pressures are easing and the labor market is gradually cooling, evidence that the slowdown the Fed has tried to engineer with its rate hikes to date is underway. Still, the unemployment rate at last read was 3.9%, only a few tenths of a percentage point above where it was when the Fed first began raising rates in March 2022. UNCERTAIN PATHTraders have been betting heavily that the Fed will keep its overnight benchmark interest rate steady in the 5.25%-5.50% range for the next several months. "I'm not losing too much sleep" over the market's view "because there's a lot of uncertainty about the future path of policy," Williams said. "I'm not thinking about rate cuts at all right now," Daly said.

Persons: John Williams, Williams, Janet Yellen, I'm, Mary Daly, Daly, Jerome Powell, Christopher Waller, Oscar Munoz, Dan Burns, Michael S, Howard Schneider, David Lawder, Chizu Nomiyama, Paul Simao, Andrea Ricci, Will Dunham Organizations: Federal Reserve, New York Fed Bank, Fed, U.S, Treasury, PATH Traders, San Francisco Fed, Spelman College, Derby, Thomson Locations: U.S, New, Atlanta

☆ Morning Bid: November bids adieu with inflation data, OPEC
▼ + stars: | 2023-11-30 | by ( ) www.reuters.com time to read: +5 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 26, 2023. With signs of turn emerging in Federal Reserve policy guidance and October PCE inflation readings set to encourage that later in the day, rate cut fever was in full flow across the Atlantic too. Headline annual inflation in the bloc fell as low as 2.4% - within arm's length of the ECB's 2% target. Later on Thursday, U.S. PCE inflation for the prior month is pencilled to fall 3.0% from 3.4% - with a core also ebbing to 3.5%. "Monetary policy is in a good place," Cleveland Fed President Loretta Mester said on Wednesday, echoing comments from previously hawkish Fed governor Christopher Waller the previous day.

Persons: Brendan McDermid, Mike Dolan, policymaker Fabio Panetta, Loretta Mester, Christopher Waller, John Williams, Christine Lagarde, Megan Greene, Kroger, Bernadette Baum Organizations: New York Stock Exchange, REUTERS, Treasury, Federal, European Central Bank, Bank of Italy, policymaker, U.S ., ECB, Cleveland Fed, Wall, OPEC, Dallas Fed, PMI, York Federal, Bank of England, Academy Sports, Rock Biotech, Titan, Reuters, Thomson Locations: New York City, U.S, China, Canada, Vienna, Automotive, Duluth, BOS, Jan

☆ In the Market: Regulators look to pry open the dark corners of Treasury markets
▼ + stars: | 2023-11-29 | by ( Paritosh Bansal | Thomson Reuters | Paritosh Oversees The Work Of More Than Journalists Across The Globe Who Write About Finance | ) www.reuters.com time to read: +6 min

Duffie said more could be done, but added that the "official sector Treasury market datasets are far more comprehensive now than they were a few years ago." They would have much better estimates of the basis trade, for example, but they still wouldn't know exactly how big it is. The trade involves hedge funds exploiting the difference between a Treasury security and its derivative in the futures market. The CFTC data includes other trades that hedge funds enter into that involve shorting treasury futures, the two industry sources said. At a major Treasury market conference earlier this month, officials underscored the importance of good data.

Persons: Darrell Duffie, Duffie, John Williams, Sherlock Holmes, Paritosh Bansal, Anna Driver Organizations: U.S . Federal Reserve, Financial Research, Stanford University, Treasury, Futures Trading Commission, Securities, Exchange Commission, Regulators, ” New York Fed, Thomson Locations: ”

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