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☆ Stock futures edge higher on Sunday night as Wall Street awaits big tech earnings: Live updates
▼ + stars: | 2023-10-22 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +2 min

Traders work on the floor of the New York Stock Exchange (NYSE) on October 20, 2023 in New York City. Stock futures ticked higher on Sunday night as traders looked ahead to the release of corporate earnings from tech industry behemoths. S&P 500 futures and Nasdaq 100 futures climbed 0.23% and 0.15%, respectively. Earnings season ramps up this week, with a slew of big tech titans slated to report. Investors will anticipate results from Alphabet , Amazon , Meta and Microsoft to provide key information for the stock market.

Persons: Jerome Powell, Ryan Detrick Organizations: New York Stock Exchange, Stock, Dow Jones, Nasdaq, Treasury, Federal, Economic, of New, Meta, Microsoft, Carson Group Locations: New York City, of New York

☆ 3 things to watch in the stock market next week as bond yields hover at 2007 highs
▼ + stars: | 2023-10-21 | by ( Matthew J. Belvedere | ) www.cnbc.com time to read: +12 min

The usual suspects were to blame — rising bond yields, geopolitical tensions, and oil prices — and will hold the keys to the market this coming week. Earnings are one of the three major themes on the marquee next week, with 10 Club companies reporting. Here are the companies: Danaher (DHR), Microsoft (MSFT), Alphabet (GOOGL), Meta Platforms (META), Veralto (VLTO), Honeywell (HON), Linde (LIN), Amazon (AMZN), Ford (F) and Stanley Black & Decker (SWK). 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.

Persons: —, Jerome Powell, Jim Cramer, Jim, Morgan Stanley, Stanley Black, Decker, Danaher, Veralto, it's, Mark Zuckerberg, We're, Vimal Kapur, Linde, Jim Farley, Ford, FactSet, Powell, WTI, Baker Hughes, Edwards Lifesciences, Northrop, CARR, Davidson, Dr Pepper, Phillips, Jim Cramer's, Michael M Organizations: Dow Jones, Nasdaq, Economic, of New, Treasury, West Texas, Procter, Gamble, 10, Microsoft, Honeywell, Linde, LIN, Health Care, Technology, Communications Services, Google, Meta, Ford, Amazon, United Auto Workers, Atlanta, Wall Street, Hamas, Brent, Strategic Petroleum Reserve, Logitech, Verizon, General Electric, GE, RTX Corporation, Halliburton, HAL, General Motors, Dow Chemical, DOW, Xerox, Texas Instruments, F5 Networks, WM, Boeing, Fisher, Mobile, Hilton, General Dynamics, Norfolk Southern, Otis Worldwide, IBM, KLA, O'Reilly Automotive, Mattel, Whirlpool, Gross, Royal Caribbean Cruises, Hershey Company, United Parcel Service, Southwest Airlines, Altria, Northrop Grumman, Valero Energy Corp, Mastercard, Merck, Co, Myers Squibb, Newmont, Tractor Supply Company, Comcast, Seagate Technology, Boston, Hertz, Carrier, Hasbro, Harley, Intel, Grill, United States Steel, Boston Beer Company, Texas, University of Michigan, Exxon Mobil, Chevron, Charter Communications, Colgate, Palmolive, Newell Brands, Sanofi, Jim Cramer's Charitable, CNBC, Traders, New York Stock Exchange, Santiago, Getty Locations: of New York, U.S, Industrials, OpenAI, America, Venezuela, Cleveland, Norfolk, ORLY, Bristol, Brunswick, Oshkosh, New York City

A street sign for Wall Street is seen in the financial district in New York, U.S., November 8, 2021. "Obviously with yields moving higher, you expect the equity market to pull back a little bit. Better-than-expected economic data, inflation not coming down as anticipated and weak demand at auctions contributed to higher yields," said Victoria Fernandez, chief market strategist at Crossmark Global Investments. Eight of the 11 S&P 500 sub-sectors were in the red, with consumer discretionary (.SPLRCD), energy (.SPNY) and information technology (.SPLRCT) leading declines amongst the major S&P 500 sectors. Third-quarter earnings for the S&P 500 companies are expected to increase 1.1% year-on-year, compared with a 1.6% rise estimated on Thursday, as per LSEG data.

Persons: Brendan McDermid, Jerome Powell, Powell, Victoria Fernandez, Raphael Bostic, Patrick Harker, CME's, Shubham Batra, Shashwat Chauhan, Arun Koyyur, Vinay Dwivedi Organizations: Wall, REUTERS, Dow, Nasdaq, Treasury, Federal, Christian, Economic, of New, Crossmark Global Investments, Atlanta Fed, CNBC, Philadelphia Fed, Traders, Regions, American, Dow Jones, Coinbase Global, Marathon, NYSE, Thomson Locations: New York, U.S, Israel, Gaza, of New York, Bengaluru

☆ Analysis: Middle East throws central banks yet more unknowns
▼ + stars: | 2023-10-20 | by ( Mark John | ) www.reuters.com time to read: +5 min

Now, to complicate matters for a professional caste which prides itself on being data-driven, the Middle East is throwing a new set of real but unquantifiable risks into their equations. Unless the picture changes dramatically in coming days, the European Central Bank, U.S. Federal Reserve, Bank of England and Bank of Japan are already expected to keep their policy rates on hold in meetings over the next two weeks. ECB rate-setter Yannis Stournaras, the governor of the Greek central bank, argued that Europe had broadly managed to absorb the effects of rising energy costs triggered by the Ukraine war and hoped it could do the same if further shocks emerged. For now, the conflict remains largely confined to Israel and Gaza, something S&P Global Market Intelligence said in a study this week was already "muddying the waters" for central banks. As the Fed's Powell put it: "Our institutional role at the Federal Reserve is to monitor these developments for their economic implications, which remain highly uncertain".

Persons: Jerome Powell, David Westin, Brendan McDermid, Powell, Huw Pill, Yannis Stournaras, Tetsuya Hiroshima, Fed's Powell, Dan Burns, Balazs Koranyi, Francesco Canepa, Maria Martinez, Leika, Kevin Yao, David Milliken, Tomasz Janowski Organizations: Federal, Anchor, Bloomberg, Street, Economic, of New, REUTERS, Bank of England, International Monetary Fund, European Central Bank, U.S, Federal Reserve, Bank of Japan, Fed, ECB, Reuters Graphics, Reuters, Tokai, Toyota Motor Corp, P Global Market Intelligence, Thomson Locations: of New York, New York City, U.S, Israel, Ukraine, Iran, Hormuz, Europe, United States, Japan, Gaza, Washington, Frankfurt, Berlin, Tokyo, Beijing, London

A street sign for Wall Street is seen in the financial district in New York, U.S., November 8, 2021. Comments from Philadelphia Fed President Patrick Harker and Cleveland Fed President Loretta Mester will also be on investor radar during the day as Fed officials will be entering a media blackout starting Saturday ahead of their meeting on Nov 1. The 10-year Treasury yield , which briefly crossed 5% on Thursday for the first time since July 2007, were last at 4.9392%. ET, Dow e-minis were down 78 points, or 0.23%, S&P 500 e-minis were down 13 points, or 0.3%, and Nasdaq 100 e-minis were down 61 points, or 0.41%. Shares of solar firms Enphase Energy (ENPH.O) and First Solar (FSLR.O) were also down 15.6% and 5.2%, respectively.

Persons: Brendan McDermid, Jerome Powell, Powell, Jay Powell, Michael Hewson, Lorie Logan, Patrick Harker, Loretta Mester, CME's, Shubham Batra, Shashwat Chauhan, Arun Koyyur, Vinay Dwivedi Organizations: Wall, REUTERS, Dow, Nasdaq, Treasury, Federal, Economic, of New, CMC, Fed Bank of Dallas, Market, BofA, Research, U.S, Philadelphia Fed, Cleveland Fed, Traders, American Express, Investors, Dow e, Enphase Energy, Thomson Locations: New York, U.S, of New York, East, Israel, Gaza, Bengaluru

☆ Relentless climb in Treasury yields may have further to run after surging to 5%
▼ + stars: | 2023-10-20 | by ( David Randall | Davide Barbuscia | ) www.reuters.com time to read: +5 min

Still, some traders interpreted his comments as an endorsement of keeping rates around current levels through most of next year. Yields on the benchmark 10-year Treasury, which move inversely to bond prices, rose briefly to 5% late on Thursday, a closely watched level not seen since 2007. “That gives people the go ahead to take rates above 5%.”Whiteley said that he sees 10-year yields moving as high as 5.5% before peaking. An extended climb in Treasury yields risks exacerbating the pressures that have dogged a broad array of assets in recent months. Still, even if the Fed cuts rates over the next few years, yields could stay above 5% if inflation and growth remain high, he said.

Persons: Jerome Powell, Brendan McDermid, Stocks, ’ ”, Greg Whiteley, ” Whiteley, ”, Gennadiy Goldberg, ” Goldberg, Powell, Sameer Samana, Alan Rechtschaffen, Rechtschaffen, Robert Tipp, “ Organizations: YORK, Treasury, Federal Reserve, Federal, Economic, of New, REUTERS, New York Economic, Fed, TD Securities, Wells, Investment Institute, UBS Global Wealth Management, Tipp Locations: of New York, New York City, U.S, DoubleLine

☆ Treasury yields are sky high. Here's why you should care
▼ + stars: | 2023-10-20 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

It’s no longer “higher for longer,” said Steve Sosnick, chief strategist at Interactive Brokers, it’s just “high for long.”What’s happening: 10-year Treasury yields are flirting with 5% for the first time since 2007, before the global financial crisis. It also means more expensive mortgage rates. Mortgage rates tend to track the yield on 10-year US Treasuries. When Treasury yields go up, so do mortgage rates; when they go down, mortgage rates tend to follow. Fed officials, including Powell, have indicated that rates could be high enough to help lower inflation towards their target goal of 2%.

Persons: ”, Steve Sosnick, Rob Almeida, Powell, they’re, Jerome Powell, Paul McCartney, Darrell Cronk, Anna Bahney, —, ” Lawrence Yun, Snapchat isn’t, Snapchat, Clare Duffy, Evan Spiegel Organizations: CNN Business, Bell, New York CNN, Federal Reserve, Interactive, MFS Investment Management, US Treasury, Treasury, Economic, of New, Financial, “, National Association of Realtors, NAR, Twitter Locations: New York, Ukraine, of New York, Wells Fargo, Northeast, Midwest, South, homeownership

☆ CNBC Daily Open: When inflation is too high and so are yields
▼ + stars: | 2023-10-20 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +2 min

This 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. Shaky marketsStocks slid on Thursday, with the Dow down over 250 points after Powell's speech and as the benchmark 10-year U.S. Treasury yield inched closer to the key level of 5%. Las Vegas Sands' Asia betThe world's largest casino company's recovery from the Covid-19 pandemic is gaining steam, and Asia is a big reason why. Las Vegas Sands announced it pulled in $1.12 billion in third-quarter adjusted property EBITDA, an important gauge of profitability in the gambling industry.

Persons: Jerome Powell, Powell, Powell didn't, Dow, That's Organizations: Economic, of New, CNBC, Treasury, Disney, Vegas Sands Locations: of New York, New York City, U.S, Vegas Sands, Asia

Ever since the Fed started raising rates in early 2022, mortgage rates have skyrocketed. Average 15-year mortgage rates also inched up, and threaten to topple 7% for the first time in 23 years. 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 Increase (+0.38%)The current average 30-year fixed mortgage rate is 7.72%, up 38 basis points since this time last week. 15-Year Fixed Mortgage Rates Up a Bit (+0.21%)The average 15-year mortgage rate is 6.77%, an increase from last week.

Persons: Freddie Mac, Jerome Powell, Powell, you'll, It's, refinance Organizations: Fed, Economic, of New, Zillow, FHA Locations: of New York, Chevron

☆ CNBC Daily Open: Fed says inflation too high, U.S. Treasurys in spotlight
▼ + stars: | 2023-10-20 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +2 min

Federal Reserve Chairman Jerome Powell speaks during a meeting of the Economic Club of New York in New York City, U.S., October 19, 2023. This 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. [PRO] Should you lock in those high yields right now? But with 10-year Treasury yields surging to 5% — a 16-year high, many investors might now be tempted to lock in those high yields and buy into bonds.

Persons: Jerome Powell, Powell, Powell didn't, Dow, That's Organizations: Economic, of New, CNBC, Treasury, South, Disney, Vegas Sands Locations: of New York, New York City, U.S, Asia, Pacific, Vegas Sands

☆ Gold scales 3-month peak as Middle East conflict lifts demand
▼ + stars: | 2023-10-20 | by ( ) www.cnbc.com time to read: +2 min

Gold prices hit a three-month high on Friday and were set for a second straight weekly gain, with demand bolstered by the Middle East conflict and expectations that the Federal Reserve's rate hikes are nearing an end. Spot gold was up 0.2% at $1,978.19 per ounce by 0542 GMT, after hitting its highest since July 20. "Gold prices were supported as fears of another Fed rate hike in 2023 subside. We remain neutral towards gold prices for 2023, expecting prices to average $1,950/oz," Fitch Solutions said in a note. Spot silver fell 0.4% to $22.94 per ounce, but was headed for a second weekly rise.

Persons: Kyle Rodda, Yoav Gallant, Jerome Powell, Wang Tao Organizations: Agosi AG, Capital.com, Israeli, Fitch Solutions, Economic, of New Locations: Pforzheim, Israel, Gaza

Still, some traders interpreted his comments as an endorsement of keeping rates around current levels through most of next year. Yields on the benchmark 10-year Treasury, which move inversely to bond prices, rose briefly to 5% late on Thursday, a closely watched level not seen since 2007. "That gives people the go ahead to take rates above 5%.”Whiteley said that he sees 10-year yields moving as high as 5.5% before peaking. An extended climb in Treasury yields risks exacerbating the pressures that have dogged a broad array of assets in recent months. Still, even if the Fed cuts rates over the next few years, yields could stay above 5% if inflation and growth remain high, he said.

Persons: Jerome Powell, Brendan McDermid, Stocks, ”, Greg Whiteley, ” Whiteley, Gennadiy Goldberg, Goldberg, Powell, Sameer Samana, Alan Rechtschaffen, Rechtschaffen, Robert Tipp, Davide Barbuscia, David Randall, Saqib Iqbal Ahmed, Ira Iosebashvili, Megan Davies Organizations: Economic, of New, REUTERS, Treasury, Federal Reserve, New York Economic, Fed, TD Securities, Wells, Investment Institute, UBS Global Wealth Management, Tipp, Thomson Locations: of New York, New York City, U.S, DoubleLine

☆ 10-year Treasury yield retreats after rising to 5% in previous session
▼ + stars: | 2023-10-20 | by ( Katrina Bishop | ) www.cnbc.com time to read: +1 min

During the previous session, 10-year Treasury yields topped 5% for the first time since July 20, 2007, after four consecutive days of climbs. The yield on the 10-year Treasury fell to 4.9499% by 2 a.m. ET, down around 4 basis points. The 2-year Treasury yield was trading around 5.1418%, down around 3 basis points. No major data points or Treasury auctions are scheduled.

Persons: Jerome Powell, Powell, Lorie Logan, Patrick Harker, Loretta Mester Organizations: Federal, Economic, of New Locations: of New York

☆ Bond term premiums are now a focus for the Fed. What are they?
▼ + stars: | 2023-10-20 | by ( ) www.reuters.com time to read: +5 min

A bond yield can be decomposed into three elements: Expectations for what the Fed does with short-term rates; a premium for expected inflation; and a term premium. Term premiums cannot be directly observed but a number of models for them exist. A New York Fed model shows the term premium for the benchmark 10-year Treasury note has climbed by more than a percentage point since the start of the third quarter. "A sudden rise in term premiums to more normal levels poses a downside risk to long-maturity Treasury prices, which could in turn affect the prices of other assets," the Fed said in its July 2017 Monetary Policy Report, a period during which term premiums were below zero. "If long-term interest rates remain elevated because of higher term premiums, there may be less need to raise the fed funds rate."

Persons: Kevin Lamarque, Jerome Powell nodded, Lorie Logan, Dan Burns, Andrea Ricci Organizations: Department of, U.S . Treasury, REUTERS, . Federal Reserve, Economic, of New, Reuters, New York Fed, Reuters Graphics, Dallas, National Association for Business Economics, Thomson Locations: Washington , U.S, of New York, York

For inflation to durably return to the Fed's 2% target, it "is likely to require a period of below-trend growth and some further softening in labor market conditions," Powell said. There is evidence the labor market is cooling, Powell said, with some important measures approaching levels seen even before the pandemic. Those include new geopolitical risks to the economy from the "horrifying" attack on Israel by the Palestinian militant Hamas group, Powell said. "Persistent changes in financial conditions can have implications for the path of monetary policy," Powell said, with higher market-based interest rates, if sustained, doing the same job as Fed rate increases. "We cannot yet know how long these lower readings will persist, or where inflation will settle over coming quarters," Powell said.

Persons: Jerome Powell, Evelyn Hockstein, Powell, Dan Burns, Ann Saphir, Chizu Nomiyama, Andrea Ricci Organizations: . Federal, Federal Reserve, REUTERS, Economic, of New, Fed, Hamas, Federal, U.S, Thomson Locations: Washington , U.S, U.S, of New York, Israel

Powell, however, added the economy's strength and continued tight labor markets could warrant further Federal Reserve interest rate increases. Third-quarter earnings for S&P 500 companies are now estimated to grow at 1.6% compared with expectations of a 2.2% increase last week, LSEG data showed. Yields on the 2-year note, which best reflects short-term interest rate expectations, fell , while that on the 10-year note edged higher to 4.9215%, near the 5% level last seen in 2007. Communications services (.SPLRCL) and information technology (.SPLRCT) led gains amongst the major S&P 500 sectors. On the earnings front, Blackstone (BX.N) slipped 6.0% as the world's largest private equity firm's third-quarter distributable earnings fell more than expected due to a decline in asset sales in its real estate business.

Persons: Brendan McDermid, Jerome Powell, Powell's, CME's, Powell, Chris Zaccarelli, Russell Hackmann, Austan Goolsbee, Atlanta's Raphael Bostic, Philadelphia's Patrick Harker, Shubham Batra, Shashwat Chauhan, Dhanya Ann Thoppil, Saumyadeb Chakrabarty, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Netflix, Dow, Nasdaq, Economic, of New, Traders, Independent, Alliance ., Hackmann Wealth Partners, Investors, Chicago Fed, Dow Jones, Communications, Blackstone, Lam Research, NYSE, Thomson Locations: New York City, U.S, of New York, United States, Britain, France, Bengaluru

☆ Jerome Powell Signals Fed Will Extend Interest-Rate Pause
▼ + stars: | 2023-10-19 | by ( Nick Timiraos | ) www.wsj.com time to read: 1 min

Speaking at the Economic Club of New York, Federal Reserve Chair Jerome Powell described the U.S. economy as ‘resilient’ and said he doesn’t believe monetary policy is too tight. Photo: Bess Adler/BloombergFederal Reserve Chair Jerome Powell suggested that he is pleased with inflation’s decline this summer and that the central bank is unlikely to raise interest rates again unless it sees clear evidence that stronger economic activity jeopardizes such progress. “Given the uncertainties and risks, and how far we have come, the committee is proceeding carefully,” Powell said in prepared remarks for a Thursday lunchtime address in New York. “Incoming data over recent months show ongoing progress toward both” of the Fed’s goals to maintain stable inflation and strong employment.

Persons: Jerome Powell, Bess Adler, ” Powell Organizations: Economic, of New, Federal, Bloomberg Locations: of New York, U.S, New York

☆ Strong Economic Data ‘Could Warrant’ Higher Rates, Fed Chair Says
▼ + stars: | 2023-10-19 | by ( Jeanna Smialek | More About Jeanna Smialek | ) www.nytimes.com time to read: +4 min

But he also said that the central bank might need to raise interest rates more if economic data continued to come in hot. Mr. Powell tried to paint a balanced picture of the challenge facing the Fed in a speech before the Economic Club of New York. Officials have rapidly raised interest rates to a range of 5.25 to 5.5 percent over the past 19 months. “We are attentive to recent data showing the resilience of economic growth and demand for labor,” Mr. Powell acknowledged in his prepared remarks on Thursday. Those tougher financial conditions could affect growth, Mr. Powell said Thursday.

Persons: Jerome H, Powell, Mr, ”, “ Organizations: Federal Reserve, Economic, of New, Fed Locations: of New York, Israel, Gaza

☆ Climate protesters disrupt start of Federal Reserve Chair Powell's economic speech
▼ + stars: | 2023-10-19 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +1 min

Protesters disrupt an Economic Club of New York event on Oct. 19th, 2023. The start of Federal Reserve Chairman Jerome Powell's speech on Thursday was delayed by climate activists protesting at the Economic Club of New York. The protesters appeared to be from a group called Climate Defiance. The group's mission statement calls for the end of fossil fuel extraction on federal lands and waters, among other items. The Federal Reserve leader appeared to leave his seat near the podium at some point during the protest.

Persons: Jerome Powell's, Powell, Transportation Pete Buttigieg Organizations: of New, Federal, Economic, Federal Reserve, Defiance, Transportation Locations: of New York, New York

☆ Fed Chair Jerome Powell: The resilience of the economy is a story of stronger demand
▼ + stars: | 2023-10-19 | 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 EmailFed Chair Jerome Powell: The resilience of the economy is a story of stronger demandFed Chair Jerome Powell at the Economic Club of New York responds to questions about the economic impacts of monetary policy, debt terms limiting the effect of rate hikes, and more.

Persons: Jerome Powell Organizations: Economic, of Locations: York

WASHINGTON (AP) — Federal Reserve Chair Jerome Powell said Thursday that inflation remains too high and that bringing it down to the Fed's target level will likely require a slower-growing economy and job market. Powell noted that inflation has cooled significantly from a year ago. But he cautioned that it's not yet clear whether inflation is on a clear path back to the Fed's 2% target. That would allow the Fed to stay on hold and observe how growth and inflation evolve in the coming months. Political Cartoons View All 1211 ImagesBut several recent economic reports have suggested that the economy is growing robustly and that inflation could remain persistently elevated, which could require further Fed action.

Persons: Jerome Powell, Powell, it's, ” Powell, “, ” Organizations: WASHINGTON, —, Economic, of New, Wall Locations: of New York, ”

☆ Climate protesters disrupt start of Federal Reserve Chair Powell’s economic speech
▼ + stars: | 2023-10-19 | 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 EmailClimate protesters disrupt start of Federal Reserve Chair Powell’s economic speechThe start of Federal Reserve Chairman Jerome Powell’s speech on Thursday was delayed by climate activists protesting at the Economic Club of New York. The protesters appeared to be from a group called Climate Defiance. The group’s mission statement calls for the end of fossil fuel extraction on federal lands and waters, among other items.

Persons: Jerome Powell’s Organizations: Federal, Economic, of New Locations: of New York

☆ US weekly jobless claims hit nine-month low
▼ + stars: | 2023-10-19 | by ( Lucia Mutikani | ) www.reuters.com time to read: +6 min

Though the labor market is gradually cooling, conditions remain tight, with claims at the very low end of their range of 194,000 to 265,000 for this year. The Fed's Beige Book report on Wednesday said "labor market tightness continued to ease across the nation" in early October and implied cooling wage pressure. The labor market is driving consumer spending and the overall economy, ultimately keeping inflation elevated. The claims report covered the week during which the government surveyed business establishments for the nonfarm payrolls component of October's employment report. The so-called continuing claims increased 29,000 to a still-low 1.734 million during the week ending Oct. 7, the claims report showed.

Persons: Andrew Kelly, Christopher Rupkey, Unadjusted, Jerome Powell's, Jay Hawkins, Lucia Mutikani, Chizu Nomiyama, Jonathan Oatis Organizations: REUTERS, Labor Department, Federal Reserve, Financial, Treasury, Reuters, United Auto Workers, UAW, Ford, General Motors, Chrysler, U.S, Economic, of New, National Association of Realtors, realtors, BMO Capital Markets, Philadelphia Fed, Thomson Locations: Manhattan , New York City, U.S, WASHINGTON, New York, Texas , New York , New Jersey, Georgia, California, Tennessee, Michigan, of New York, Toronto, Pennsylvania, New Jersey, Delaware

☆ Jerome Powell says Fed will let bond market volatility 'play out' amid historic Treasury collapse
▼ + stars: | 2023-10-19 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

The Fed will let the bond market volatility "play out," Chairman Jerome Powell said. Though there could be many explanations for higher yields, monetary policy forecasts aren't the main driver. AdvertisementAdvertisementThere could be several factors sending Treasury yields higher, and the Federal Reserve will let the bond market run its course, Chairman Jerome Powell said on Thursday. While it's clear that higher yields are constraining financial conditions, the Fed will be watching for the persistence of this effect, Powell said. AdvertisementAdvertisementEarlier this month, Treasury Secretary Janet Yellen tried to calm the bond market, saying there's no "evidence of market dysfunction."

Persons: Jerome Powell, —, Powell, what's, Janet Yellen Organizations: Economic, of New, Service, Federal Reserve, Financial Times Locations: of New York, Treasurys

☆ Watch Fed Chair Jerome Powell deliver a speech on the U.S. economy
▼ + stars: | 2023-10-19 | by ( Fred Imbert | ) www.cnbc.com time to read: 1 min

Please refresh the page if you do not see a player above at that time.] Federal Reserve Chair Jerome Powell delivered a speech on the U.S. economy Thursday at the Economic Club of New York. The speech comes during a difficult time for Wall Street. Stocks have been volatile in recent weeks, with Treasury yields reaching multiyear highs, as traders weigh the potential of Fed rates staying higher for longer. According to the CME Group's FedWatch tool, traders were pricing in a 96% chance that the central bank keeps rates at the current 5.25%-5.5% range heading into Powell's speech.

Persons: Jerome Powell Organizations: Economic, of New, Wall, Treasury, CNBC, YouTube Locations: U.S, of New York

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