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☆ Key inflation report looms on Thursday as traders grow more confident in Fed rate cut
▼ + stars: | 2024-07-10 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

The consumer price index, or CPI, report for June is due out at 8:30 a.m. A widely anticipated inflation report on Thursday may solidify expectations for the Federal Reserve to cut interest rates in coming months. The price changes in the components that make up the CPI index will also be a focus on Thursday, especially if the number comes in different from expectations. Both shelter and medical services are also key parts of the personal consumption expenditures index, the Fed's preferred inflation measure, rather than CPI. "We've seen medical services [be] pretty tame, and that's important because medical services makes up a much bigger portion of the PCE, which is the more important of the two inflation prints," Roth said.

Persons: Jerome Powell, Powell, Dow Jones, Matt Brenner, Brenner, Tony Roth, We've, Roth Organizations: Federal Reserve, CPI, Wilmington Trust, PCE Locations: Wilmington

☆ Gold rangebound with spotlight on U.S. inflation reading
▼ + stars: | 2024-07-10 | by ( ) www.cnbc.com time to read: +2 min

Gold traded in a narrow price range on Wednesday as investors looked forward to a key U.S. inflation reading that could shed more light on the Federal Reserve's interest rates trajectory. Gold traded in a narrow price range on Wednesday as investors looked forward to a key U.S. inflation reading that could shed more light on the Federal Reserve's interest rates trajectory. Spot gold rose 0.2% to $2,367.79 per ounce by 0229 GMT. Non-yielding bullion's appeal tends to shine when interest rates are lower. That may weigh on gold, which could see prices fall back towards the $2,300 level of support," Yeap said.

Persons: Gold, Jerome Powell, Powell, Yeap Jun Rong, Yeap Organizations: Traders, Global, Gold Locations: U.S, Europe, Asia

Mortgage rates have been holding steady so far this week, but they could fluctuate on Thursday when the Bureau of Labor Statistics releases June's Consumer Price Index data. If this index shows that inflation slowed last month, rates could ease. As inflation slows and the Federal Reserve is able to start lowering the federal funds rate, mortgage rates are expected to go down. This should remove some of the upward pressure off of mortgage rates and allow them to trend down more substantially. This means your entire monthly mortgage payment, including taxes and insurance, shouldn't exceed 28% of your pre-tax monthly income.

Persons: they're, you'll, Fannie Mae Organizations: Bureau of Labor Statistics, Federal Reserve, Investors, Zillow, Mortgage, Association, Sky Locations: Chevron

Traders work on the floor at the New York Stock Exchange on June 14, 2024. U.S. stock futures were little changed Wednesday night after both the S&P 500 and Nasdaq Composite closed at new all-time highs. Futures tied to the broad market index slipped less than 0.1%, as did Nasdaq 100 futures . These moves come before a key inflation report due to be released Thursday morning, which could help solidify expectations for a rate cut in September. "Any upside surprises in inflation are going to be downside surprises for markets.

Persons: Dow Jones, Mike Bailey Organizations: New York Stock Exchange, Nasdaq, Dow Jones Industrial, Costco Wholesale, Dow, FBB Capital Partners, PepsiCo, Delta Air Lines

☆ Asia-Pacific markets slip as investors assess Japan inflation data; China CPI in focus
▼ + stars: | 2024-07-10 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Asia-Pacific markets started Wednesday lower, even as key Wall Street benchmarks rose following dovish comments from U.S. Federal Reserve Chairman Jerome Powell overnight. Powell signaled caution over leaving interest rates at too high a level, saying that "reducing policy restraint too late or too little could unduly weaken economic activity and employment." Over in Asia, investors will assess inflation data from China and Japan, with China releasing its consumer and producer prices data for June. Japan's corporate goods price index rose to 2.9% in June from a year earlier, in line with expectations and climbing at a faster pace compared to a revised 2.6% in May. The CGPI measures the price changes of goods traded within the corporate sector.

Persons: Jerome Powell, Powell Organizations: U.S . Federal, PPI Locations: Asia, Pacific, U.S, China, Japan

☆ DuPont is a buy at current prices for investors who don't already own the stock
▼ + stars: | 2024-07-10 | by ( Morgan Chittum | ) www.cnbc.com time to read: +2 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. If you don't own DuPont stock, Jim Cramer said current prices are a good entry point. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER .

Persons: Jim Cramer, Jerome Powell, we're, Jim, it's, Jim Cramer's Organizations: CNBC, Nasdaq, Federal, Honeywell International, Air, Honeywell, DuPont, Big Tech, NVDA

☆ Mortgage refinance demand drops further, despite homeowners sitting on $17 trillion in equity
▼ + stars: | 2024-07-10 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +2 min

The recent run-up in home prices, a staggering increase of more than 40% from pre-pandemic levels, should have current homeowners rushing to refinance. But for most, pulling that cash out simply costs too much now that interest rates are more than twice what they were just two years ago. Applications to refinance a home dropped last week for the fourth straight week, down 2%, according to the Mortgage Bankers Association's seasonally adjusted index. Homeowners were sitting on a collective $17 trillion in equity at the end of the first quarter of 2024, according to CoreLogic. Mortgage rates haven't moved at all so far this week, despite Federal Reserve Chair Jerome Powell's testimony before Congress on Tuesday.

Persons: Joel Kan, Kan, Jerome Powell's, Powell, Matthew Graham Organizations: Mortgage, Homeowners, Consumer, Mortgage News

☆ Why June CPI is going to be a big moment for stock market bulls, according to Fundstrat's Tom Lee
▼ + stars: | 2024-07-10 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

The June CPI report will show a continued drop in inflation, according to Fundstrat's Tom Lee. Lee expects a soft June CPI report will push the Fed to cut rates more than two times this year. "It's going to be a week of reckoning, and I mean a reckoning of how people view inflation and the state of the economy." Lee is also bullish on small-cap stocks, which have badly lagged the broader stock market rally so far this year. AdvertisementJPMorgan's trading desk also expects a light June CPI report will boost stock prices.

Persons: Tom Lee, Lee, —, it's, What's, JPMorgan's Andrew Tyler Organizations: Service, Federal Reserve, CPI

☆ Opinion | A Beautiful Inflation Report
▼ + stars: | 2024-07-09 | by ( Paul Krugman | ) www.nytimes.com time to read: +1 min

One of my go-to economic data experts emailed on Thursday morning about the latest inflation report, which showed prices actually falling in June and up only 3 percent over the past year. It was, he declared, “beautiful.”Your aesthetic sense may vary, but we’ve now had two months of really good price data, enough to puncture the bubble of pessimism that, um, inflated early this year. Many economists argued, however, that the bad data was just noise, largely reflecting one-time price resets at the start of the year. Note that the Federal Reserve focuses not on the Consumer Price Index but on an alternative measure, the personal consumption expenditure price index, which isn’t in yet for June. And since the Fed is supposed to skate to where the puck will be, not where it is right now, there’s now an overwhelming case for interest rate cuts.

Persons: we’ve, there’s Organizations: Federal Reserve, Consumer

☆ Fed Chair Powell talks up progress on inflation but says rate cuts not imminent yet
▼ + stars: | 2024-07-09 | by ( Bryan Mena | ) edition.cnn.com time to read: +5 min

However, central bank officials still want to see more progress before cutting interest rates, he noted. “The most recent inflation readings, however, have shown some modest further progress, and more good data would strengthen our confidence that inflation is moving sustainably toward 2%,” he added. Fed officials expect to cut interest rates just once this year, according to their latest economic projections in June, compared to the three cuts they forecast in March. The annual PCE inflation rate registered at 2.6% in June, down slightly from 2.7% in May. Fed officials and most economists don’t see a recession this year.

Persons: Jerome Powell, ” Powell, Powell, Inflation, John Williams, ” Seema Shah Organizations: Washington CNN, Inflation, Committee, Financial, ” New York Fed, Congress, Fed, Asset Management Locations: India, United States

As long as inflation continues to slow, mortgage rates should ease throughout the remainder of 2024, improving affordability for hopeful homebuyers. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates would impact your monthly payments. Mortgage Rates for Buying a Home30-Year Fixed Mortgage Rates Decrease Slightly (-0.09%)The current average 30-year fixed mortgage rate is 6.62%, down nine basis points from where it was this time last week, according to Zillow data. 15-Year Fixed Mortgage Rates Essentially Flat (+0.01%)The average 15-year mortgage rate is 5.99%, just one basis point higher than last week. Mortgage Refinance Rates30-Year Fixed Refinance Rates Increase Slightly (+0.16%)The average 30-year refinance rate is 7.86%, 16 basis points up from last week.

Persons: you'll, It's, refinance Organizations: of Labor Statistics, Federal Reserve, Zillow, FHA Locations: Chevron

☆ How to trade this week’s CPI report, according to JPMorgan
▼ + stars: | 2024-07-09 | by ( Fred Imbert | ) www.cnbc.com time to read: +2 min

The S & P 500 would increase 0.25%-0.75% under this outcome. 15% chance — CPI rises 0.25%-0.3%: The S & P 500 would drop 0.75%-1.25% under this scenario, as such a report could show shelter prices increasing. 15% chance — CPI gains by 0.1%-0.15%: This outcome would be viewed favorably by investors as it could signal accelerating "goods disinflation." The S & P 500 would jump 1%-1.5%. 2.5% chance — CPI rises more than 0.3%: Such a hot inflation report would spark a 1.25%-2.5% sell-off in the S & P 500, JPMorgan traders think.

Persons: Dow Jones Organizations: Federal Reserve, CPI, JPMorgan

☆ Treasury yields rise ahead of fresh data, testimony from Fed Chair Powell
▼ + stars: | 2024-07-09 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

ET, the yield on the 10-year Treasury was up by over 2 basis points at 4.289%. The 2-year Treasury yield was last at 4.628% after rising by more than 1 basis point. U.S. Treasury yields were higher on Tuesday as investors looked ahead to economic data and comments from Federal Reserve Chair Jerome Powell. Investors awaited key data points slated for the week ahead, including fresh consumer and wholesale inflation figures. Several other Fed officials are also set to give remarks throughout the week and could provide more insights.

Persons: Jerome Powell, Powell Organizations: Treasury, Federal, Investors, Federal Reserve, Banking, Financial Services Committee

☆ Stock market today: Indexes hover near records ahead of Fed Chair Powell's testimony
▼ + stars: | 2024-07-09 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

Stock indexes are hovering near record highs ahead of the testimony of Fed Chair Jerome Powell. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Meanwhile, the stock market has continued to strike new highs with help from its tech sector, with Nvidia rising 2% on Monday. Here's where US indexes stood at the 9:30 a.m. opening bell on Tuesday:AdvertisementHere's what else happened today:In commodities, bonds, and crypto:Advertisement

Persons: Jerome Powell, —, Powell, Michael Barr, Michelle Bowman Organizations: Service, Nasdaq, Federal, Nvidia Locations: Here's

☆ Stock market today: Indexes inch higher to new records after Powell testimony
▼ + stars: | 2024-07-09 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

Investors tuned into Fed Chair Powell's testimony, but his comments did not shift interest-rate outlooks. AdvertisementThe S&P 500 and Nasdaq 100 breached new records on Tuesday, though trades remained muted in the broader stock market. Monetary-policy outlooks were little changed after Federal Reserve Chairman Jerome Powell's testimony to Congress. In his remarks, Powell highlighted mounting data of a cooling job market, and noted that the Fed wanted to see further signs of disinflation. Here's where US indexes stood at the 4:00 p.m. closing bell on Tuesday:Here's what else happened today:AdvertisementIn commodities, bonds, and crypto:

Persons: —, Jerome Powell's, Powell, John Lynch Organizations: Nasdaq, Service, Federal, Fed, Comerica

☆ Stock futures are little changed after S&P 500 notches another record close: Live updates
▼ + stars: | 2024-07-09 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

Stock futures were little changed in overnight trading Tuesday after the S&P 500 notched a fresh record close. S&P 500 futures and Nasdaq-100 futures were little changed. The S&P 500 edged up 0.07%, while the Nasdaq added 0.14%. Wednesday marks a light day for economic data, with a final wholesale inventories reading for May due ahead of the June consumer price index reading on Thursday. "If we get a cooler print on CPI this week and if get a cooler print on PPI, September will get priced in as a lock," Liz Young Thomas, SoFi's head of investment strategy, said on CNBC's "Closing Bell" on Tuesday, cautioning that at some point, cooler data may become too cool.

Persons: Jerome Powell, Dow, Powell, Liz Young Thomas, SoFi's Organizations: New York Stock Exchange, Stock, Dow Jones, Nasdaq, Senate, Committee, Financial Services Committee, PPI

☆ Earnings growth is the 'name of the game' right now, says CIO, naming 3 stocks to buy
▼ + stars: | 2024-07-08 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

Though CIO Michael Landsberg of Landsberg Bennett Private Wealth Management says the conditions don't justify a cut, he says there might be one. "I think if Chairman Powell had not said, we're gonna get a rate cut, we wouldn't be having these discussions because earnings growth has been really strong. Against that backdrop, Landsberg says, investors should focus on companies generating strong earnings growth. "The major indices are continuing to rally based on strong earnings growth. Earnings growth is the name of the game for this stock market right now," he said in additional notes to CNBC.

Persons: Michael Landsberg, Landsberg Bennett, Powell, we're, CNBC's, he's, Landsberg, They've, Stryker Organizations: U.S . Federal, Wealth Management, Fed, West Texas, CNBC, Trade Locations: Landsberg, China, U.S

☆ Wall Street thinks the US economy is getting back to normal. The election could change that
▼ + stars: | 2024-07-08 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +10 min

New York CNN —New data shows weakening in the US economy – Friday’s jobs report showed that unemployment ticked up to 4.1% in June. Inflation is easing, and so is economic growth – that combination means interest rate cuts could be on their way. Before the Bell spoke with Michael Reynolds, vice president of investment strategy at Glenmede, about investors, the economy and political landscape. We recognize that to have a thesis on the economy is to have a thesis on the consumer. The global market value for adult diapers was pegged at $12.8 billion in 2023, according to market research provider Euromonitor International.

Persons: Joe Biden, Bell, Michael Reynolds, we’ve, there’s, That’s, We’ve, Fumio Kishida, Read, Nathaniel Meyersohn Organizations: CNN Business, Bell, New York CNN, Nasdaq, Federal, DC, Traders, Fed, Federal Reserve, United Nations, UN, Euromonitor, Oji Holdings, Flags Locations: New York, Japan, China, Indonesia, Malaysia, United States

And at some Chipotle locations, customers filmed workers to try to make sure they didn't skimp on their burrito bowls. The three joined a growing list of consumer brands contending with customers' deep frustration over high prices — and wariness that prices will only rise more. Walmart, on the other hand, said the new price tags will cut a tedious task from store workers' to-do lists. They eliminate the need for store workers to swap out traditional paper tags. Shoppers at a Walmart store in Secaucus, New Jersey, US, on Tuesday, March 5, 2024.

Persons: Wendy's, Jean, Pierre Dubé, David Chavern, Donald Trump, Joe Biden, Kevin Lamarque, hasn't, Dianna Campbell, she's, Campbell isn't, Biden, skimping, Sen, Bob Casey, Andrea Foote, Tricia Moriarty, it's, Jim Cramer, CNBC's, Brian Niccol, Chipotle, We've, Wells, Zachary Fadem, Brandon Bell, It's, Kirk Tanner, Yuki Iwamura, Cristina Rodrigues, Gabby Jones Organizations: Walmart, University of Chicago Booth School of Business, Consumers, U.S . Bureau of Labor Statistics, Consumer Brands Association, Procter, Gamble, Pew Research, Pew, Reuters Shrinkflation, Federal Reserve, Customers, Gatorade, PepsiCo, CNBC, Chipotle, New York, Mexican Grill, Getty, American Farm Bureau Federation, Bloomberg, University of Chicago Locations: U.S, Goffstown , New Hampshire, Manhattan, New York City, Mexican, Austin , Texas, Queens, New York, Europe, Secaucus , New Jersey, US

In June, 30-year mortgage rates averaged around 6.58%, an 18-basis-point drop from the month before, according to Zillow data. This index is a key measure of inflation, and if it decelerated last month, mortgage rates could inch down in response. As inflation slows and the Federal Reserve is able to start lowering the federal funds rate, mortgage rates are expected to ease. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's interest rates will affect your monthly payments. 15-Year Fixed Mortgage RatesAverage 15-year mortgage rates inched down to 6.25% last week, according to Freddie Mac data.

Persons: Fannie Mae's, homebuyers, you'll, Freddie Mac, it's Organizations: of Labor Statistics, Federal Reserve, Zillow Locations: Chevron

☆ Asia-Pacific markets open mixed as investors await U.S. and China inflation data
▼ + stars: | 2024-07-08 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

Asia-Pacific markets opened mixed on Monday as investors awaited key economic data from the U.S. and China later this week, while election results in France overnight signaled a hung parliament. France's left-wing New Popular Front coalition on Sunday unexpectedly thwarted a far-right advance, clinching the largest number of seats but falling short of an absolute majority in a parliamentary run-off vote. Investors await the U.S. consumer price index reading, due Thursday stateside, to assess the Federal Reserve's interest rate path, while China's inflation figures on Wednesday will signal the state of the country's economic recovery. Central bank decisions from South Korea, New Zealand and Malaysia will also be announced this week, although no changes are expected, according to a Reuters poll of economists.

Persons: France's Organizations: Popular Front, Sunday Locations: Asia, Pacific, U.S, China, France, Central, South Korea, New Zealand, Malaysia

☆ Stock market today: Nvidia pushes Nasdaq, S&P 500 to record highs
▼ + stars: | 2024-07-08 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

The S&P 500 index and Nasdaq closed at record highs, driven by a 2% gain in Nvidia. UBS raised Nvidia's price target to $150 due to strong demand for its chips and a reasonable valuation. Investors are awaiting June's CPI inflation report Thursday and comments from Fed Chairman Jerome Powell. AdvertisementThe S&P 500 index and Nasdaq closed at record highs on Monday, driven by a nearly 2% gain in Nvidia stock. The AI darling rose after UBS raised its price target to $150 per share in a Monday note.

Persons: Jerome Powell, —, Price, Jeremy Siegel Organizations: Nasdaq, Nvidia, UBS, Service, Nvidia's, Blackwell, Federal, Wharton School

☆ Stock futures are little changed after S&P 500, Nasdaq close at fresh records: Live updates
▼ + stars: | 2024-07-08 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

U.S. stock futures were little changed Monday night after the S&P 500 and Nasdaq Composite closed at fresh record highs. S&P 500 futures and Nasdaq 100 futures climbed 0.12% and 0.18%, respectively. The S&P 500 and Nasdaq Composite closed Monday's trading session at all-time highs again, each rising slightly as investors awaited key inflation data and earnings results due out later this week. The broad market index closed up 0.1%, while the tech-heavy Nasdaq gained 0.3%. Bank earnings results from Citigroup and JPMorgan Chase are due out Friday.

Persons: Courtney Garcia, CNBC's, Jerome Powell, Powell, JPMorgan Chase, —, Jeff Cox Organizations: New York Stock, Nasdaq, Dow Jones Industrial, Dow Jones, Reserve, Payne Capital Management, Senate, Financial Services, PepsiCo, Delta Air Lines, Citigroup, JPMorgan

☆ Stocks will struggle and a recession is on the table if the Fed fails to cut rates by September, Wharton professor Jeremy Siegel says
▼ + stars: | 2024-07-08 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

The rally in stocks could be endangered if the Fed doesn't cut rates soon, Jeremy Siegel warned. The Wharton professor made the case for the central bank to cut rates in September as data softens. AdvertisementThe rally in stocks and the strength of the economy is at risk if the Fed doesn't start cutting interest rates soon, according to Wharton professor Jeremy Siegel. No rate cut in September could put a recession on the table, Siegel warned, in addition to endangering the trajectory for stocks. Advertisement"So although I think stocks are still in an uptrend and the growth stocks are still certainly walloping the value stocks, I think Powell has to take note," Siegel said.

Persons: Jeremy Siegel, Wharton, —, who's, Siegel, Powell Organizations: Service, CNBC, Atlanta Fed, New, Fed

☆ Stock market today: US stocks rise to records ahead of key June inflation report
▼ + stars: | 2024-07-08 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

US stocks jumped to record highs ahead of key economic data releases this week. AdvertisementUS stocks jumped to record highs on Monday ahead of key economic data scheduled for this week. Investors will be keenly focused on the June consumer price index report on Thursday, with Core CPI expected to rise 3.1% year-over-year, compared to May's CPI report of 3.3%. More inflation data will be released on Friday with the release of the June PPI report, which is expected to rise 0.1% on a month-over-month basis. The new inflation data will help inform investors and the Federal Reserve about the path of interest rates for the rest of this year.

Persons: Powell, —, Jerome Powell, Wells, Katie Stockton, Stockton Organizations: PPI, Service, Federal Reserve, Fed, Fed Governors, JPMorgan, Citigroup, Here's Locations: Wells Fargo

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