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☆ Powell says Fed to move 'carefully' on interest rates with risks 'more balanced'
▼ + stars: | 2023-12-01 | by ( ) www.reuters.com time to read: +4 min

"Having come so far so quickly, the (Federal Open Market Committee) is moving forward carefully, as the risks of under- and over-tightening are becoming more balanced." But his remarks also reflected increased confidence that the current 5.25%-5.50% policy rate may well be adequate to complete the job. The Fed meets on Dec. 12-13 and is expected to leave its benchmark rate unchanged for the third meeting in a row. "The pace at which the economy is creating new jobs remains strong, and has been slowing toward a more sustainable level ... Shortly before Powell delivered his remarks, a key reading on the health of the U.S. manufacturing sector showed activity there remained subdued and factory employment declined.

Persons: Jerome Powell, Kevin Lamarque, Powell, Helene Gayle, Lisa Cook, Howard Schneider, Paul Simao Organizations: Monetary Fund's, REUTERS, Rights, Federal Reserve, Spelman College, Fed, Spelman, Institute, Supply Management's, Thomson Locations: Washington , U.S, Atlanta

☆ Cramer reviews November's top ten performers on the Russell 1000
▼ + stars: | 2023-11-30 | by ( Julie Coleman | ) www.cnbc.com time to read: 1 min

CNBC's Jim Cramer on Thursday went through the top ten performers on the Russell 1000 index during November, explaining why these smaller stocks saw success. "If you think we're going to have a soft landing, if you believe inflation's coming down, if you believe that interest rates have peaked, then you need to be a little more optimistic about life and stocks – or at least stocks," he said. "The Russell 1000 is a list with a growth stock bias that can produce some real winners."

Persons: CNBC's Jim Cramer, Russell

☆ London stocks fall as investors await more data; Rolls-Royce shines
▼ + stars: | 2023-11-28 | by ( Shashwat Chauhan | ) www.reuters.com time to read: +2 min

A street cleaning operative walks past the London Stock Exchange Group building in the City of London financial district, whilst British stocks tumble as investors fear that the coronavirus outbreak could stall the global economy, in London, Britain, March 9, 2020. The exporter-heavy FTSE 100 (.FTSE) fell 0.6% touching a two-week low intraday, while the more domestically-oriented FTSE 250 midcap index (.FTMC) also shed 0.6%. Personal goods (.FTNMX402040) led declines among the major FTSE 350 sectors, with Burberry Group (BRBY.L) falling 2.7% after HSBC reduced the stock's price target. Investors will look ahead to UK mortgage data, inflation prints across the eurozone, and a Personal Consumption Expenditures (PCE) report in the U.S. - the Federal Reserve's preferred inflation gauge - later this week. Man Group (EMG.L) fell 3.2% after Morgan Stanley downgraded the hedge fund manager's stock to "Equal-Weight" from "Overweight".

Persons: Toby Melville, inflation's, Andrew Jones, Janus Henderson, Dave Ramsden, Jonathan Haskel, Pearson, Morgan Stanley, Shashwat Chauhan, Sonia Cheema Organizations: London Stock Exchange Group, REUTERS, Royce, Burberry Group, HSBC, PT Pearson, Man, Janus Henderson Investors, Bank of England's, Thomson Locations: City, London, Britain, U.S, Bengaluru

Tokyo and Hong Kong fell while Shanghai, Seoul and Sydney gained. U.S. futures and oil prices edged higher. Meanwhile, the broader economy has remained strong enough in the face of rising interest rates and inflation to avoid a recession. The Hang Seng in Hong Kong slipped 0.8% to 17,381.14. The yield on the 10-year Treasury, which influences interest rates on mortgages and other loans, fell to 4.38% from 4.47% late Friday.

Persons: ” Robert Carnell, Min Joo Kang, Sensetime, Grizzly, Kospi, Australia's Organizations: Sydney, Conference, FactSet, Federal, Federal Reserve, U.S, ING Economics, Nikkei, Grizzly Research, Hong Kong Stock Exchange, Dow Jones, Nasdaq, Treasury, New York Mercantile Exchange, Brent, Investors, U.S . Locations: BANGKOK, Asia, Tokyo, Hong Kong, Shanghai, Seoul, China

☆ Inflation is declining but that doesn't matter for low-income Americans, says Fmr. Wells Fargo CEO
▼ + stars: | 2023-11-27 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInflation is declining but that doesn't matter for low-income Americans, says Fmr. Wells Fargo CEODick Kovacevich, Former Wells Fargo CEO, joins 'Closing Bell Overtime' to talk inflation's impact on Americans, the state of the economy and more.

Persons: Wells, Dick Kovacevich Organizations: Wells Fargo

☆ Japan cuts view on economy for first time in 10 months
▼ + stars: | 2023-11-21 | by ( ) www.reuters.com time to read: +2 min

TOKYO, Nov 22 (Reuters) - Japan's government on Wednesday slashed its view on the economy for November in its first such downgrade in 10 months, as weak demand weighed on capital spending and consumer expenditure. The new assessment by the Cabinet Office came after data last week showed the economy shrank in July-September for the first time in three quarters as demand waned. "The economy is recovering moderately, although some areas showed stalemate recently," said the report issued by the Cabinet Office on Wednesday. It was the first time the government has cut its view on the overall economy since January. The government expects the economy to continue to recover moderately but there are risks such as those from global monetary tightening and the Chinese economy.

Persons: inflation's, Fumio, Kaori Kaneko, Sam Holmes Organizations: Cabinet, Thomson Locations: TOKYO

“Any time we’ve had a serious cut to the inflation rate, it’s come with a major recession," Goolsbee said in an interview with The Associated Press. “And so the golden path is a ... bigger soft landing than conventional wisdom believes has ever been possible. Last week, the government reported that inflation cooled in October, with core prices — which exclude volatile food and energy prices — rising just 0.2% from September. The year-over-year increase in core prices — 4% — was the smallest in two years. The Fed tracks core prices because they are considered a better gauge of inflation's future path.

Persons: Goolsbee, we’ve, ” Goolsbee, “, Susan Collins, ” Collins, hasn't Organizations: WASHINGTON, Federal Reserve Bank of Chicago, Associated Press, Wall, Federal Reserve Bank of Boston

Yet according to a raft of polls and surveys, most Americans hold a glum view of the economy. Polls consistently show that most Americans disapprove of Biden's handling of the economy. I hear that from my family.”That's particularly true for some of the goods and services that Americans pay for most frequently: Bread, beef and other groceries, apartment rents and utilities. “Partly because the country is more polarized.”Even so, many Americans, like Charles, are still feeling the pain of inflation. Even if it does, the higher pay may come with a time lag.

Persons: they’re, Joe Biden, Lisa Cook, Cook, ”, Wendy Edelberg, Katherine Charles, Charles, “, ” Charles, Maximus, Eileen Cassidy Rivera, ” Rivera, Karen Dynan, George W, Bush, Obama, Edelberg, ” Edelberg, haven't, Brad Hershbein, Anthony Murphy, Murphy, Aparna Jayashankar, ” Hershbein Organizations: WASHINGTON, Associated Press, NORC, for Public Affairs Research, Federal Reserve's Board of Governors, Duke University, “, Brookings Institution, Medicare, Affordable, Teamsters, Biden, House, Republicans, University of Michigan's, Harvard, Upjohn Institute, Federal Reserve Bank of Dallas Locations: U.S, Tampa , Florida, autoworkers, ”

☆ CNBC Daily Open: Rate cuts might not be in the cards despite cooling inflation
▼ + stars: | 2023-11-16 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +3 min

Valerie Plesch | Bloomberg | Getty ImagesThis report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Wholesale prices in October, as measured by the producer price index, fell 0.5% for the month against the expected 0.1% increase. And that, to put it mildly, "may be at least a tad optimistic," Cox wrote. Expectations of a rate cut forced down Treasury yields Tuesday (though they rose again yesterday).

Persons: Valerie Plesch, Jeff Cox, Cox, Quincy Krosby, Henry Allen, — Organizations: Eccles Federal, Bloomberg, Getty, CNBC, Major, Nasdaq, Dow Jones Industrial, Federal Reserve, Investors, Treasury, LPL, Deutsche Bank, Fed Locations: Washington , DC, Major U.S

☆ CNBC Daily Open: Despite cool inflation, don’t expect rate cuts
▼ + stars: | 2023-11-16 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +3 min

Valerie Plesch| Bloomberg | Getty ImagesThis report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Wholesale prices in October, as measured by the producer price index, fell 0.5% for the month against the expected 0.1% increase. And that, to put it mildly, "may be at least a tad optimistic," Cox wrote. Expectations of a rate cut forced down Treasury yields Tuesday (though they rose again yesterday).

☆ Here's when market experts think inflation will get back to normal
▼ + stars: | 2023-11-16 | by ( Madison Hoff | ) www.businessinsider.com time to read: +5 min

While many experts don't see inflation getting back to normal just yet, it could in a year or two. Consumer price inflation has been mostly slowing this year. Some experts see inflation as measured by the Consumer Price Index being around 2% — the Fed's target year-over-year rate of price growth — by some time in 2024. Advertisement"We foresee headline and core CPI inflation around 2.2% y/y in Q4 2024," Daco said in his commentary. Goldman Sachs forecasts that measure is expected to cool off and see a 2.4% year-over-year increase in December 2024.

Persons: J.P, David Kelly, —, Gregory Daco, Daco, Kelly, ING's James Knightley, Sarah Foster's, Goldman Sachs, Jerome Powell, Powell, Mark Hamrick, Hamrick Organizations: Morgan, Service, Consumer, CPI, Morgan Asset Management, Bankrate, Federal Reserve, Federal, Business

☆ JPMorgan boss Jamie Dimon warns it's too early for a Fed victory lap, as inflation 'may not go away that quickly'
▼ + stars: | 2023-11-15 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

Markets are probably overreacting to the October inflation data, according to Jamie Dimon. The JPMorgan CEO told Bloomberg that he's "afraid inflation may not go away that quickly". AdvertisementThe Federal Reserve shouldn't call time on its inflation fight just yet, according to Jamie Dimon. "I'm afraid inflation may not go away that quickly," Dimon added. AdvertisementThe JPMorgan boss isn't the only big name on Wall Street telling markets not to put too much stock in Tuesday's CPI print.

Persons: Jamie Dimon, —, Stocks, Dimon, El Financiero, that's, Dimon –, they've, isn't, Ken Griffin Organizations: JPMorgan, Bloomberg, Service, JPMorgan Chase, El Financiero Bloomberg, CPI, Billionaire Citadel

☆ Cramer examines Wednesday's rally, says investors are searching for new winners as inflation fears cool
▼ + stars: | 2023-11-15 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

CNBC's Jim Cramer examined Wednesday's market action, saying the continued rally has eager buyers searching for promising stocks. Cramer said many on Wall Street may find new reasons to own different stocks that lagged behind in the past, but he cautioned against buying just anything. He added that the company may look more attractive to Wall Street if inflation cools and consumers have more money to spend. Estee Lauder does a significant amount of business in China, and Cramer suggested the stock's rally could be fueled by hopes surrounding President Joe Biden's meeting with Chinese President Xi Jinping. "I think it's worth breaking down today's move because it shows how much people want to own stocks here, buy stocks here," Cramer said.

Persons: CNBC's Jim Cramer, Cramer, Estee Lauder, Joe Biden's, Xi Jinping, They've Locations: China

☆ Prices rise slower than expected, but there's still a 'long way to go' in taming inflation, financial expert says
▼ + stars: | 2023-11-14 | by ( Mike Winters | ) www.cnbc.com time to read: +1 min

Price growth is slowing, but high inflation could still persist through most of 2024 and beyond. Inflation dropped from a year-over-year rate of 3.7% to 3.2% in October, according to the latest consumer price index report released by the U.S. Bureau of Labor Statistics Tuesday morning. Perhaps more importantly, core inflation — which excludes volatile food and energy prices — dropped from 0.3% in September to 0.2% in October, which was lower than expected. At an annualized rate of 2.4%, core inflation is trending closer to the Federal Reserve's overall year-over-year target rate of 2%. "We still have a long way to go" before core inflation is under control, Greg McBride, chief financial analyst at Bankrate, tells CNBC Make It.

Persons: That's, Kurt Rankin, Greg McBride Organizations: U.S . Bureau of Labor Statistics Tuesday, Federal, PNC Financial Services Group, CNBC

☆ Peru cuts interest rate again as prices ease but recession lingers
▼ + stars: | 2023-11-09 | by ( Marco Aquino | ) www.reuters.com time to read: +2 min

A worker walks pasts the logo of the Central Reserve Bank of Peru (BCRP) inside its headquarters building in Lima, Peru June 16, 2017. The bank's third consecutive cut comes as the rate of rising consumer prices has been coming down. But the latest decision to cut rates does not necessarily imply a cycle of successive rate reductions, the monetary authority said in a statement. It added that future adjustments to the key lending rate "will be conditioned on new information on inflation and its determinants." Earlier on Thursday, Peru's government announced a package of measures aimed at boosting investments in the country's critical mining sector.

Persons: Mariana Bazo, El, Peru's, Alex Contreras, Marco Aquino, David Alire Garcia, Matthew Lewis Organizations: Central Reserve Bank of, REUTERS, Rights, El Nino, Thomson Locations: Central Reserve Bank of Peru, Lima , Peru, Lima

FRANKFURT, Germany (AP) — The European Central Bank and other policymakers across Europe need to keep interest rates at current elevated levels until they're sure inflation is under control despite sluggish growth, the International Monetary Fund said Wednesday, warning against “premature celebration” as inflation declines from its peak. Alfred Kammer, director of the IMF's Europe department, warned against “premature celebration" as he spoke to journalists in connection with the outlook. The European Central Bank has raised its benchmark deposit rate by fully 4.5 percentage points between July 2022 and September 2023, from minus 0.5% to 4%. If inflation falls faster than expected, it will boost consumer real income and spending and growth might improve. But an escalation of Russia's war against Ukraine and accompanying increased sanctions and disruptions to trade could mean weaker growth.

Persons: Alfred Kammer, Kammer, “, ” Organizations: European Central Bank, International Monetary Fund, ECB, IMF, Ukraine Locations: FRANKFURT, Germany, Europe, Washington, Israel, Gaza

☆ UK grocery inflation in single digits for first time this year -Kantar
▼ + stars: | 2023-11-07 | by ( James Davey | ) www.reuters.com time to read: +3 min

Market researcher Kantar said annual grocery inflation was 9.7% in the four weeks to Oct. 29, down from 11% in last month's report. The Kantar data provides the most up-to-date snapshot of UK grocery inflation. Kantar said grocery sales in the four weeks to Oct. 29 rose by 7.4% compared with last year. Spending on promotions hit 27.2% of total grocery sales – the highest level since Christmas last year. UK supermarkets' market share and sales growth (%)Source: Kantar($1 = 0.8061 pounds)Reporting by James Davey Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.

Persons: Phil Noble, Kantar, Fraser McKevitt, Rishi Sunak, James Davey, Mark Potter Organizations: REUTERS, Bank of England, Barclays, Thomson Locations: Altrincham, Britain

☆ Retirement is overrated, Gen Z says, as ‘soft saving’ trend takes hold
▼ + stars: | 2023-11-04 | by ( Jessica Dickler | ) www.cnbc.com time to read: +2 min

Ted Rossman senior industry analyst at BankrateIn addition to soaring food and housing costs, millennials and Gen Z face other financial challenges their parents did not as young adults. Gen Z workers are the biggest cohort of nonsavers, Bankrate also found. Most financial experts recommend having at least three to six months' worth of expenses set aside. "Every dollar you set aside in your 20s will compound over time," Rossman said. "Compound interest is the eighth wonder of the world," Rossman added, referring to an earlier comment Einstein reportedly said.

Persons: Ted Rossman, Gen Zers, Gen, Bankrate, Kara Duckworth, Duckworth, Rossman, Einstein Organizations: Getty, Financial Independence, Bankrate, Bank of America, Intuit, Mercer Advisors

In Europe, inflation peaked at a painful 10.6% in October for the 20 countries that use the euro currency as Russia's war in Ukraine took a toll. But with inflation now down to 4.3%, analysts expect the ECB to hold off on more hikes during its meeting in Athens. Political Cartoons View All 1218 ImagesSurveys of purchasing managers by S&P Global indicate that economic activity fell in October. Its biggest economy, Germany, is forecast by the International Monetary Fund to shrink by 0.5% this year, making it the world's worst performing major economy. “The ECB won’t be in any rush to take further action,” said Carsten Brzeski, global head of macro at ING bank.

Persons: hasn't, ”, Carsten Brzeski, Christine Lagarde, aren't Organizations: European Central Bank, ECB, U.S . Federal Reserve, Bank of England, European Union, ABN Amro, International Monetary Fund, IMF, “, ECB won’t, ING Locations: FRANKFURT, Germany, Israel, Europe, Ukraine, Athens, Frankfurt, Russia, East, Iran

☆ BoE likely to keep high rates on hold even as signs of slowdown mount
▼ + stars: | 2023-10-25 | by ( William Schomberg | ) www.reuters.com time to read: +4 min

The last Monetary Policy Committee meeting in September resulted in five members voting to pause, just outnumbering the four who sought another increase. So far, investors are not challenging the BoE's message that interest rates will stay high for a considerable period. BOE Chief Economist Huw Pill likened the outlook for monetary policy to the lofty, flat and long profile of Table Mountain during a visit to South Africa in late August. But economists expected little change in the BoE's previous forecasts that inflation will fall to 2% in two years' time. "Recent geopolitical events will probably induce a modicum of monetary policy caution, reinforcing the likelihood of unaltered policy settings," analysts at NatWest Markets said.

Persons: Hollie Adams, BoE, Andrew Bailey, James Smith, Smith, BOE, Huw Pill, Pill, Bailey, Rishi Sunak, Price, William Schomberg, Jonathan Oatis Organizations: Bank of England, City of, REUTERS, Reuters, ING, Investors, U.S . Federal, Monetary Fund, NatWest Markets, Thomson Locations: City, City of London, Britain, South Africa

Electronic boards showing stock information are pictured at the stock market, in Dubai, United Arab Emirates, November 5, 2020. "Such an escalation could lead to increased oil prices, concerns about oil supply, and the potential for a global economic downturn." In the unlikely event the United States sends troops into the Middle East, Belote expected a $20 jump in oil prices, "if not more". "Israel has better relations with other Arab countries compared to then," JP Morgan private bank strategist Madison Faller said in a note, "and global oil supply is not as concentrated." Reuters Graphics5/ TECH JITTERSWhat's good for oil stocks can be bad for big tech.

Persons: Abdel Hadi Ramahi, Hamza Meddeb, Malcolm H, Brent Belote, Belote, JP, Madison Faller, Nadia Martin Wiggen, Alessia Berardi, Amundi's Berardi, Trevor Greetham, Morgan Stanley, Jeff, London's Greetham, Naomi Rovnick, Nell Mackenzie, Marc Jones, Dhara Ranasinghe, Sharon Singleton Organizations: United Arab Emirates, REUTERS, Kerr Carnegie Middle East Center, Oil, JP Morgan, Svelland, Reuters Graphics Reuters, U.S, Reuters, Swiss, Royal, Aegon, Deutsche Bank, Aerospace, Thomson Locations: Dubai, United Arab, Israel, Gaza, Beirut, IRAN, Iran, U.S, United States, Arab, Turkey, Ukraine, Egypt, Jordan, Iraq, Saudi Arabia, Qatar, Bahrain, Suez, London

☆ Two financial experts discuss inflation's impact on the broader markets
▼ + stars: | 2023-10-13 | 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 EmailTwo financial experts discuss inflation's impact on the broader marketsGreg Branch, Managing Partner at Veritas Financial, and Ross Mayfield, Investment Strategy Analyst at Baird, discuss the impact of inflation and rising rates on the broader markets.

Persons: Branch, Ross Mayfield, Baird Organizations: Veritas Financial, Investment

☆ Vital Knowledge's Adam Crisafulli is bullish near term, but expects headwinds in the medium
▼ + stars: | 2023-10-12 | 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 EmailVital Knowledge's Adam Crisafulli is bullish near term, but expects headwinds in the mediumAdam Crisafulli, Vital Knowledge Founder and James Demmert, Main Street Research CIO, join 'Closing Bell: Overtime' to discuss rising yields and inflation's impact on the markets.

Persons: Adam Crisafulli, James Demmert Organizations: Vital Knowledge, Street Research

☆ Morning Bid: Fed's dovish shift welcomed; inflation's next
▼ + stars: | 2023-10-11 | by ( ) www.reuters.com time to read: +2 min

Futures pricing suggests traders now see about a 30% chance of another rate hike this year, down from about 45% a week ago. Ahead on Wednesday, the European Central Bank's inflation survey and U.S. producer price data will lead in to U.S. inflation data on Thursday. The S&P 500's retreat on Tuesday from the day's high, closing only 0.5% firmer, also suggests nervousness. Later in the week U.S. corporate earnings season hits full swing, with bank profits set to rise. Overnight markets welcomed Pepsi (PEP.O) promising to keep on lifting prices, which is a good sign for demand but perhaps a warning sign for inflation.

Persons: Jonathan Ernst, Westbrook Stocks, Raphael Bostic, Fed's Bowman, Waller, Collins, Tom Westbrook, Edmund Klamann Organizations: . Federal, REUTERS, Bankers, Atlanta Fed, Pepsi, Exxon Mobil, U.S, Natural Resources, Reuters, Bank, PPI, Thomson Locations: Washington, Nashville, Asia, Finland, Estonia, Marrakech, Morocco, Bostic

[1/4] The International Monetary Fund (IMF) logo is seen outside the headquarters building in Washington, U.S., September 4, 2018. The IMF adjusted this year's stress test to probe the impact of its baseline economic scenario of higher interest rates for longer, as well as the possibility of consumers yanking deposits. "Under the baseline, it's about 5% of banks that are relatively weak in terms of their capital. And in severe stress, that number goes up to 30% or sometimes higher," Adrian said. The IMF did not identify the banks that could be in trouble if those economic circumstances arose, but they included both small and large lenders.

Persons: Yuri Gripas, Tobias Adrian, Adrian, There's, Pete Schroeder, Michelle Price, Paul Simao Organizations: Monetary Fund, REUTERS, Rights, International Monetary Fund, IMF, Valley Bank, Switzerland's Credit Suisse Group, Monetary, Capital Markets Department, Palestinian, World Bank, U.S, Thomson Locations: Washington , U.S, California, Israel, Gaza, Marrakech, Morocco, Italy, Federal, U.S

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