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☆ Job openings fell again in April, hitting lowest level since February 2021 in a sign of labor market weakening
▼ + stars: | 2024-06-04 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Job openings fell more than forecast in April, signaling a potential weakening in the labor market that could provide the Federal Reserve with more impetus to start lowering interest rates. The Labor Department's Job Openings and Labor Turnover Survey released Tuesday showed that the level of employment vacancies slipped to 8.06 million for the month, down by nearly 300,000 from March and close to 19% lower than a year ago. The ratio of job openings to available workers edged down from 1.2 to 1, after being around 2 to 1 when openings peaked above 12 million in March 2022. Fed officials watch the JOLTS report closely for signs of labor market slack as they look for direction on monetary policy. While job openings slid, hires moved slightly higher as did separations and quits, a sign of worker confidence in the ability to move to other positions.

Persons: Dow Jones, nonfarm Organizations: Reserve, Labor, Bureau of Labor Statistics

☆ Jim Cramer says the stock market is a 'work in progress' towards a rate cut
▼ + stars: | 2024-06-04 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

CNBC's Jim Cramer reviewed Tuesday's market action, suggesting to investors the moves may be a good setup for rate cuts. "You get a day like today, it's a work in progress toward a rate cut, hence why we rebounded in the late afternoon," he said. "We have days like today that are good setups for a rate cut, but that doesn't give us enough evidence to truly move the needle." Cramer also stressed that market action can't be explained in purely simple terms — even if such a fraught summation isn't satisfying. It doesn't make things simple," he said.

Persons: CNBC's Jim Cramer, Cramer, Friday's Organizations: Federal Reserve

☆ Cramer's week ahead: Labor report, plus Gitlab and Crowdstrike earnings
▼ + stars: | 2024-05-31 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

CNBC's Jim Cramer on Friday told investors what to pay attention to next week on Wall Street, highlighting the nonfarm payroll report and earnings from GitlLab and CrowdStrike . Cramer said he's waiting to see how the company will perform because some in the enterprise software sector see issues with sales. Tuesday brings quarterly results from CrowdStrike, and Cramer said this cybersecurity company has been doing better than many of its peers. Friday brings perhaps the most important event of the week, according to Cramer, the Labor Department's nonfarm payroll report. Cramer said the Federal Reserve won't be inclined to cut rates until the unemployment rate reaches 4%.

Persons: CNBC's Jim Cramer, Cramer, he's, Hewlett Packard, Ferguson, PVH, Calvin Klein, Tommy Hilfiger, Ralph Lauren, Campbell Soup, Jack Daniels, Brown, Forman, Lululemon, JM Smucker, Smucker Organizations: Dell, athleisure, Labor

☆ Fed's favorite inflation gauge is expected to show very slow progress on Friday
▼ + stars: | 2024-05-30 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Inflation is taking baby steps towards coming back to where policymakers want it, with a report due Friday expected to show more of that creeping progress. Core inflation is expected to have slowed to 0.2%, which would represent at least some further progress toward easing price pressure on weary consumers. "That said, getting to the Fed's 2% target is apt to be a bumpy landing." However, policymakers' expectations that housing inflation will cool this year have been largely thwarted, throwing another wrinkle into the debate. CPI inflation ran at 3.4% for the all-items measure in April and 3.6% for core, well above the Fed's target.

Persons: Dow Jones, Carol Schleif Organizations: Dow, BMO Family Office, Labor Locations: PCE

☆ U.S. inflation data fuels bets of Fed rate cuts as early as September — but analysts aren’t convinced
▼ + stars: | 2024-05-16 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +2 min

Traders appear increasingly confident that the U.S. Federal Reserve could start cutting interest rates as early as September, after inflation data cooled more than expected in April. Traders are currently pricing in a roughly 70% chance of a U.S. rate cut in September, according to the CME FedWatch Tool. Jerome Schneider, head of short-term portfolio management at PIMCO, said on Thursday that the latest U.S. inflation data confirmed to investors that the potential for a near-term rate hike was now "off the table." "I think more contextually, we have to really understand that we have celebrated a lower inflation rate, the market has. But, in context, at PIMCO we're specifically thinking about the longer-term trajectory of how the Fed is going to react to this data," Schneider told CNBC's "Squawk Box Europe."

Persons: Dow Jones, Jerome Schneider, we're, Schneider, CNBC's Organizations: New York Stock Exchange, Traders, U.S . Federal, Labor Department's Bureau of Labor Statistics, Federal Reserve Locations: U.S, PIMCO

☆ Bitcoin is having its best day since March following cooler April inflation reading
▼ + stars: | 2024-05-15 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

Bitcoin is likely to remain rangebound and trade along with macro data points, until we see a clearer path for rate cut." Bitcoin jumped with stocks on Wednesday after the April consumer price index showed inflation eased from the previous month. The consumer price index, a broad measure of how much goods and services cost at the cash register, increased 0.3% from March, the Labor Department's Bureau of Labor Statistics reported Wednesday. Earlier this week, bitcoin also sat out a two-day revival of the meme stock craze. With Wednesday's gain, bitcoin is now up 7% for the week — its best week since March 29 — and on pace to break a six-week slide.

Persons: Owen Lau, Oppenheimer, bitcoin, Bitcoin, Dow Jones, Leena ElDeeb, ElDeeb, Jeff Cox, Nick Wells Organizations: CNBC, Metrics, Labor Department's Bureau of Labor Statistics, Investors

☆ Inflation eases in April with consumer prices rising 3.4% from a year ago
▼ + stars: | 2024-05-15 | by ( Jeff Cox | ) www.cnbc.com time to read: +1 min

The consumer price index, a broad measure of how much goods and services cost at the cash register, increased 0.3% from March, the Labor Department's Bureau of Labor Services reported Wednesday. Excluding food and energy, the key core inflation reading came in at 0.3% monthly and 3.6% on an annual basis, both as forecast. The core 12-month inflation reading was the lowest since April 2021. Futures traders raised the implied probability that the Federal Reserve would start cutting interest rates in September. That figure is adjusted for seasonality but not inflation, suggesting consumers did not keep up with the pace of price increases.

Persons: Dow Jones Organizations: Labor Department's Bureau of Labor Services, Markets, Treasury, Federal Reserve

☆ Treasury yields fall ahead of fresh consumer inflation figures
▼ + stars: | 2024-05-15 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

The 2-year Treasury yield was last at 4.8061% after falling by over one basis point. U.S. Treasury yields were lower on Wednesday is investors considered the outlook for inflationary pressures and awaited the latest consumer price index data. The producer price index for April, which tracks wholesale prices, came in higher than expected on Tuesday. This comes ahead of the consumer price index for April which is expected to be released Wednesday. On an annual basis, inflation is anticipated to slow slightly to 3.4% from 3.5% in March.

Persons: Dow Jones, Jerome Powell Organizations: Treasury, Investors, Labor Department's Bureau of Labor Statistics, PPI, Core CPI

☆ Here's everything to expect from Wednesday's key report on inflation
▼ + stars: | 2024-05-14 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

"I expect that inflation will move back down on a monthly basis to levels that were more like the lower readings we were having last year," he told attendees at a banking conference. So we're just going to have to see where the inflation data fall out." The index, a proxy for wholesale prices, accelerated 2.2% on an annual basis, the highest reading in a year. "This will be the most important read of the month [excluding nonfarm payrolls] as inflation continues to defy expectations," said Dan North, senior economist at Allianz Trade North America. Even if the report comes in around consensus expectations, it will be "inadequate progress for the Fed to consider a cut until September," he added.

Persons: Frederic J, Brown, Dow Jones, Jerome Powell, we're, Dan North Organizations: AFP, Getty, Federal Reserve, Labor Department's Bureau of Labor Statistics, Allianz Trade North, Fed Locations: Rosemead , California, Amsterdam, Allianz Trade North America

☆ Wholesale prices rose 0.5% in April, more than expected
▼ + stars: | 2024-05-14 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

Wholesale prices jumped more than expected in April, putting up another potential roadblock to interest rate cuts anytime soon. Stripping out volatile food and energy prices, core PPI also increased 0.5% compared to the 0.2% Dow Jones estimate. On a year-over-year basis, wholesale inflation rose 2.2%, also the highest in a year. Core PPI inflation was at 2.4%, the biggest annual move since August 2023. Services prices boosted the wholesale inflation reading, rising 0.6% and accounting for about three-quarters of the headline gain, while the final demand goods index increased 0.4%.

Persons: Dow Jones, Chris Larkin, Morgan Stanley Organizations: Labor Department's Bureau of Labor Statistics, PPI, Reuters . Stock, BLS, Federal Reserve, Commerce, York

☆ Dollar slips after unexpected rise in U.S. producer prices
▼ + stars: | 2024-05-13 | by ( ) www.cnbc.com time to read: 1 min

Euros, U.S. dollars, Canadian dollars, Russian rubles and Czech korunas lie on a table as banknotes. The dollar was slightly lower on Tuesday after an initial jump following an unexpected increase in U.S. producer prices in April that indicated inflation remained elevated early in the second quarter. The producer price index for final demand rose 0.5% last month after falling by a downwardly revised 0.1% in March, the Labor Department's Bureau of Labor Statistics said on Tuesday. The dollar index, which measures the U.S. currency against six rivals, was down 0.18% at 105.03. The dollar strengthened against the yen, up 0.15% at 156.43.

Organizations: Labor Department's Bureau of Labor Statistics Locations: Czech

☆ Private payrolls increased by 192,000 in April, more than expected for resilient labor market
▼ + stars: | 2024-05-01 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Private payrolls increased at a faster than expected pace in April, indicating there are still plenty of tailwinds for the U.S. labor market, according to ADP. Companies with 500 or more workers showed the biggest gain in hiring with 98,000. In recent months, ADP has consistently undershot the Labor Department's count, though the numbers were fairly close in March. The department's Bureau of Labor Statistics reported that private payrolls increased by 232,000 for the month versus ADP's 208,000. Friday's report is expected to show growth of 204,000 in total nonfarm payrolls for April, down from March's 303,000, according to the consensus Dow Jones estimate.

Persons: payrolls, Dow Jones, Nela Richardson Organizations: ADP, Labor, department's Bureau of Labor Statistics Locations: March's

☆ 29% of households have jobs but struggle to cover basic needs: They are 'one emergency from poverty,' one expert says
▼ + stars: | 2024-04-29 | by ( Jessica Dickler | ) www.cnbc.com time to read: +2 min

Stubborn inflation has driven many households near the breaking point, but the pain of high prices has not been shared equally. By most measures, low-income households have been hardest hit, experts say. The Federal Reserve responded with a series of interest rate hikes that took its benchmark rate to its highest level in more than 22 years. The spike in interest rates caused most consumer borrowing costs to skyrocket, putting many households under pressure. Inflation continues to prove stickier than expected, dashing hopes that the Fed will be able to cut interest rates anytime soon.

Persons: ALICE, Brett House, Greg McBride, we've, Jerome Powell, Hoopes Organizations: Columbia Business School, Federal, Labor Department's Bureau of Labor Statistics

☆ European markets set to open higher; UK GDP grows 0.1% in February
▼ + stars: | 2024-04-12 | by ( Sam Meredith | ) www.cnbc.com time to read: +1 min

The U.K.'s FTSE 100 index is expected to open 31 points higher at 7,949, Germany's DAX up more than 100 points at 18,051, France's CAC 47 points higher at 8,064 and Italy's FTSE MIB 150 points higher at 33,212, according to data from IG. European markets are set to open higher on Friday morning as investors parse through U.K. economic data and reflect on a somewhat murky U.S. inflation outlook. The market moves come after the pan-European Stoxx 600 index closed lower in the previous session. Stateside, investors digested fresh inflation data in search of clues on exactly when the U.S. central bank may start cutting interest rates. In Europe, Britain's economic output increased by 0.1% in monthly terms in February, in line with expectations, according to figures published Friday by the Office for National Statistics.

Persons: Germany's DAX, Dow Jones Organizations: CAC, IG, European Central Bank, U.S, U.S . Federal, Labor Department's Bureau of Labor Statistics, Dow, Office, National Statistics Locations: U.S ., U.S, Europe

☆ 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

☆ Hot inflation data pushes market’s rate cut expectations to September
▼ + stars: | 2024-04-10 | by ( Jeff Cox | ) www.cnbc.com time to read: +5 min

Three months of inflation data have brought those expectations back down to earth. "Not that you've put a pin in inflation getting to the Fed's target, but it's not happening imminently." The 2-year Treasury note , which is especially sensitive to Fed rate moves, jumped to 4.93%, an increase of nearly 0.2 percentage point. The pricing in of seven rate cuts earlier this year was completely at odds with indications from Fed officials. However, when policymakers in December raised their "dot plot" indicator to three rate cuts from two projected in September, it set off a Wall Street frenzy.

Persons: Michael M, Liz Ann Sonders, Charles Schwab, you've, There's, Today's, Phillip Neuhart, Joseph LaVorgna, Schwab's Sonders, Sonders Organizations: New York Stock Exchange, Santiago, Getty, Federal, Labor, CPI, Fed, Traders, First, Bank Wealth, Dow Jones, Treasury, Nikko Securities, Atlanta Fed Locations: New York City

☆ Consumer prices rose 3.5% from a year ago in March, more than expected
▼ + stars: | 2024-04-10 | by ( Jeff Cox | ) www.cnbc.com time to read: +1 min

Tom Williams | Cq-roll Call, Inc. | Getty ImagesThe consumer price index accelerated at a faster than expected pace in March, pushing inflation higher and likely keeping the Federal Reserve on hold with interest rates. Shelter and energy costs drove the increase on the all-items index. Food prices increased just 0.1% on the month and were up 2.2% on a year-over-year basis. The measure for meat, fish, poultry and eggs climbed 0.9%, pushed by a 4.6% jump in egg prices. Elsewhere, used vehicle prices declined 1.1% and medical care services prices rose 0.6%.

Persons: Tom Williams, Dow Jones Organizations: Washington , D.C, Cq, Inc, Getty, Federal Reserve, Labor Department's Bureau of Labor Statistics, CPI Locations: Washington ,

☆ Job growth zoomed in March as payrolls jumped by 303,000 and unemployment dropped to 3.8%
▼ + stars: | 2024-04-05 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

Job creation in March easily topped expectations in a sign of continued acceleration for what has been a bustling and resilient labor market. The unemployment rate edged lower to 3.8%, as expected, even though the labor force participation rate moved higher to 62.7%, a gain of 0.2 percentage point from February. "This report and the February report showed some broadening in terms of job creation, which is a very good sign." Stocks have tumbled this week amid concerns that a strong labor market and resilient economy could keep the central bank on hold for longer than expected. Correction: The unemployment rate edged lower to 3.8%.

Persons: Nonfarm, Dow Jones, Lauren Goodwin, Jerome Powell Organizations: Dow, Labor Department's Bureau of Labor Statistics, Wall, Retail, New York Life Investments, Federal Reserve, Stock

☆ Fed caution may be justified if the labor market starts to deteriorate. Here's why that could happen
▼ + stars: | 2024-04-05 | by ( Jeff Cox | ) www.cnbc.com time to read: +5 min

A strong jobs outlook raises the potential of greater inflation pressures, meaning the central bank might be less eager to ease policy. Indeed, there are some signs that the labor market's strength may not be as robust as the headline nonfarm payrolls numbers indicate. Economists both on Wall Street and at the Fed suspect swelling immigration numbers are playing a role in boosting employment and keeping the labor market so tight. With political clamoring intensifying for the U.S. to tighten its border controls, the resilience of the labor market then could be jeopardized depending on how large a role immigration is playing. "Another strong report raises the potential that the deterioration in labor markets we have been expecting will be avoided.

Persons: nonfarm, Seema Shah, Shah, Mohamed El, There's, Goldman Sachs, Michelle Bowman, Bowman, Andrew Hollenhorst Organizations: Federal Reserve, Labor, Asset Management, Allianz, Fed, CNBC, Wall, Congressional, Citigroup, Citi Locations: it's, Italy, U.S, South America, Central America, Mexico

Traders work on the trading floor at the New York Stock Exchange on April 5, 2024. Stocks rebounded Friday following the Dow Jones Industrial Average 's worst session in more than a year as traders cheered a stronger-than-expected jobs report and looked past a jump in rates. The 30-stock Dow climbed 307.06 points, or 0.8%, to settle at 38,904.04. The Dow slid 2.27%, posting its worst weekly performance in 2024. The Dow tumbled about 530 points, or 1.35%, on Thursday, marking its biggest daily drop since March 2023 and its fourth consecutive losing session.

Persons: Stocks, Dow, Nonfarm payrolls, Dow Jones, Jamie Cox, Neel Kashkari Organizations: New York Stock Exchange, Dow Jones, Nasdaq, Treasury, Labor, Federal Reserve, Harris Financial, Minneapolis Federal Locations: Minneapolis

☆ Private payrolls increased by 184,000 in March, better than expected, ADP says
▼ + stars: | 2024-04-03 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Private sector job growth expanded in March at its fastest pace since July 2023, indicating continuing buoyance in the U.S. labor market, payrolls processing firm ADP reported Wednesday. Those switching jobs saw gains of 10%, also higher than in previous months. ADP, whose survey is based on payroll data analysis of more than 25 million workers, does not track government jobs. The ADP estimate serves as a precursor to the Labor Department's nonfarm payrolls survey, set to be released Friday, though the numbers often diverge sharply. The department's Bureau of Labor Statistics reported job growth of 275,000 in February, or 120,000 more than even ADP's revised figure.

Persons: Dow Jones, Nela Richardson Organizations: Companies, Labor, department's Bureau of Labor Statistics, Federal Reserve Locations: U.S

☆ Wholesale inflation rose 0.6% in February, much more than expected
▼ + stars: | 2024-03-14 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Wholesale prices accelerated at a faster-than-expected pace in February, another reminder that inflation remains a troublesome issue for the U.S. economy. The producer price index, which measures pipeline costs for raw, intermediate and finished goods, jumped 0.6% on the month, the Labor Department's Bureau of Labor Statistics reported Thursday. That was higher than the 0.3% forecast from Dow Jones and comes after a 0.3% increase in January. Another measure that also excludes trade services rose 0.4%, compared with the 0.6% gain in January, and was above the estimate for a 0.2% advance. The PPI is considered a leading indicator for inflation as it indicates costs early in the supply chain.

Persons: Dow Jones Organizations: Labor Department's Bureau of Labor Statistics, Dow, Futures, Commerce Department, Labor Department, PPI, BLS, CPI Locations: U.S

☆ Consumer prices rose 0.4% in February and 3.2% from a year ago
▼ + stars: | 2024-03-12 | by ( Jeff Cox | ) www.cnbc.com time to read: +4 min

The consumer price index, a broad measure of goods and services costs, increased 0.4% for the month and 3.2% from a year ago, the Labor Department's Bureau of Labor Statistics reported Tuesday. Excluding volatile food and energy prices, the core CPI rose 0.4% on the month and was up 3.8% on the year. Food costs were flat on the month, while shelter rose another 0.4%. With home prices expected to rise this year and rents falling only slowly, the long-awaited fall in shelter prices isn't coming to the rescue any time soon," said Robert Frick, corporate economist at Navy Federal Credit Union. Patrick T. Fallon | AFP | Getty ImagesAirline fares posted a 3.6% increase, apparel prices rose 0.6% and used vehicles were up 0.5%.

Persons: Dow Jones, Robert Frick, February's, Patrick T, Fallon, Jerome Powell, Paul Ashworth Organizations: Federal Reserve, Labor Department's Bureau of Labor Statistics, Dow, BLS, Navy Federal Credit Union, AFP, Getty, North, Capital Economics Locations: Redondo Beach , California, North America

☆ A key inflation reading is due out Tuesday morning. Here's what to expect
▼ + stars: | 2024-03-11 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

Excluding food and energy, the increase for core inflation, is forecast at a 0.3% gain, also one-tenth of a percentage point above the previous month. On a year-over-year basis, headline inflation is expected to show a 3.1% gain and core inflation a 3.7% increase when the Labor Department's Bureau of Labor Statistics releases its latest reading on the consumer price index Tuesday at 8:30 a.m. On the brighter side, House said lower prices on travel, medical care and other services helped keep inflation in check. Still, Wells Fargo has raised its full-year inflation forecast. Focusing on the core personal consumption expenditures price index, the preferred Fed gauge, Wells Fargo sees inflation at 2.5% for the year, versus a prior estimate for 2.2%.

Persons: Elijah Nouvelage, Dow Jones, Sarah House, Wells, Wells Fargo Organizations: Kroger, AFP, Getty, Labor Department's Bureau of Labor Statistics, Fed, AAA, CPI, Wells, New York Fed Locations: Atlanta , Georgia, Wells Fargo, isn't

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