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☆ Student Loan Payments Paused for 3 Million in SAVE Program
▼ + stars: | 2024-06-28 | by ( Tara Siegel Bernard | ) www.nytimes.com time to read: +1 min

Roughly three million borrowers with federal student loans will see their monthly payments paused in the coming days, as the Biden administration tries to recalculate their bills to comply with a federal court order in Kansas. The recalculations are necessary because key parts of President Biden’s new student loan repayment program, SAVE, were temporarily blocked by two federal judges on Monday, just a week before many borrowers’ payments were scheduled to be reduced by as much as half. The judges, in Kansas and Missouri, issued separate preliminary injunctions this week, leaving the SAVE plan’s eight million enrollees in limbo until lawsuits, filed in the spring by two groups of Republican-led states seeking to topple the program, are resolved. The Justice Department recently filed a request on behalf of the Education Department to stop the Kansas injunction. “If the injunction takes effect,” the filing said, “it will inflict irreparable harm on the federal government in the form of unrecoverable disruption costs and create extraordinary confusion and chaos for borrowers.”

Persons: Biden’s, ” Organizations: Biden, Republican, Justice Department, Education Department Locations: Kansas, Kansas and Missouri

☆ JPMorgan and Morgan Stanley boost buybacks and dividends, while Citigroup and BofA take smaller steps
▼ + stars: | 2024-06-28 | by ( Hugh Son | ) www.cnbc.com time to read: +2 min

JPMorgan Chase and Morgan Stanley said Friday that they were boosting both dividend payouts and share repurchases, while rivals Citigroup and Bank of America made more modest announcements. JPMorgan, the biggest U.S. bank by assets, said it was raising its quarterly dividend 8.7% to $1.25 per share and that it authorized a new $30 billion share repurchase program. Morgan Stanley, a dominant player in wealth management, said it was boosting its dividend 8.8% to 92.5 cents per share and authorized a $20 billion repurchase plan. Citigroup said it was raising its dividend 5.7% to 56 cents per share and that it would "continue to assess share repurchases" on a quarterly basis. Bank of America said it was increasing its dividend 8% to 26 cents per share.

Persons: Brian Moynihan, Jamie Dimon, JPMorgan Chase, Jane Fraser, Morgan Stanley, Dimon Organizations: Bank of America, JPMorgan, Citigroup, Washington , D.C, Federal Reserve Locations: Hart, Washington ,, New York

☆ A Nobel Prize-winning economist breaks down exactly how Trump's proposed policies could make inflation worse
▼ + stars: | 2024-06-28 | by ( Madison Hoff | ) www.businessinsider.com time to read: +5 min

Read previewNobel Prize-winning economist Joseph Stiglitz told Business Insider the US economy is "remarkably strong." "I think general consensus, not just my view, but almost anybody modeling what is going on would say the Trump administration would be more inflationary," Stiglitz told BI. AdvertisementStiglitz noted Trump's promise of large increases in tariffs as one of the things that could make inflation worse. AdvertisementA third factor that could juice inflation would be the "drastic reductions in immigration" that Trump has proposed, Stiglitz said. Outside of the risks to inflation, Stiglitz said a Trump presidency could also mean a slowing GDP.

Persons: —, Joseph Stiglitz, Stiglitz, Trump, Axios, Joe Biden, Trump's, Karoline Leavitt Organizations: Service, Democratic, Republican, Business, Trump, U.S, Republicans, CNN Locations: U.S

☆ Marketplace health insurance may get more expensive — unless Congress extends this tax break
▼ + stars: | 2024-06-28 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

If you buy health insurance via the federal marketplace, your premiums could increase significantly after 2025 — unless Congress takes action. The premium tax credit makes health insurance purchased via the marketplace more affordable. Participants can use the credit to lower insurance premiums upfront or claim the tax break when filing their return. In his fiscal 2025 budget request, President Joe Biden proposed making the premium tax credit expansion permanent. Former President Donald Trump's campaign did not respond to CNBC's request for comment on the program.

Persons: Gideon Lukens, Joe Biden, Donald Trump's Organizations: American, Center, Budget, Finance, Congressional, Office, Taxation Locations: U.S

☆ The Fed isn't ready for cuts right now, 'I think they know that': Fmr. Kansas City Fed President
▼ + stars: | 2024-06-28 | 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 EmailThe Fed isn't ready for cuts right now, 'I think they know that': Fmr. Kansas City Fed PresidentThomas Hoenig, Former Kansas City Fed President, joins 'Closing Bell Overtime' to talk recent inflation numbers and what he thinks the Fed's next moves will be.

Persons: Thomas Hoenig Organizations: Fed, Former Kansas City Fed Locations: . Kansas, Former

☆ Key Fed measure shows inflation rose 2.6% in May from a year ago, as expected
▼ + stars: | 2024-06-28 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

May marked the lowest annual rate since March 2021, which was the first time in this economic cycle that inflation topped the Federal Reserve's 2% target. An important economic measure for the Federal Reserve showed Friday that inflation during May slowed to its lowest annual rate in more than three years. Including food and energy, headline inflation was flat on the month and also up 2.6% on an annual basis. Outside of the inflation numbers, the Bureau of Economic Analysis report showed that personal income rose 0.5% on the month, stronger than the 0.4% estimate. Shelter-related costs have proven stickier than Fed officials have anticipated and have helped keep the central bank from reducing interest rates as expected this year.

Persons: Dow Jones, Seema Shah Organizations: Dow, Commerce Department, Federal, Asset Management, Gross, Atlanta Fed Locations: PCE

☆ Supreme Court Rules for Member of Jan 6. Mob in Obstruction Case
▼ + stars: | 2024-06-28 | by ( Adam Liptak | ) www.nytimes.com time to read: 1 min

The Supreme Court sided on Friday with a member of the mob that stormed the Capitol on Jan. 6, 2021, saying that prosecutors had overstepped in using an obstruction law to charge him. The ruling may affect hundreds of other prosecutions of rioters, as well as part of the federal case against former President Donald J. Trump accusing him of plotting to subvert the 2020 election. But the precise impact of the court’s ruling on those other cases was not immediately clear. Chief Justice John G. Roberts Jr., writing for the majority, read the law narrowly, saying it applied only when the defendant’s actions impaired the integrity of physical evidence. Lower courts will now apply that strict standard, and it will presumably lead them to dismiss charges against many defendants.

Persons: Donald J, Trump, John G, Roberts Organizations: Capitol

☆ Supreme Court delivers blow to power of federal agencies, overturning 40-year-old precedent
▼ + stars: | 2024-06-28 | by ( Lawrence Hurley | ) www.cnbc.com time to read: +4 min

A general view of the U.S. Supreme Court building in Washington, U.S., June 1, 2024. WASHINGTON — The Supreme Court on Friday overturned a 40-year-old precedent that has been a target of the right because it is seen as bolstering the power of "deep state" bureaucrats. It is the latest in a series of rulings in which the conservative justices have taken aim at the power of federal agencies. The ruling was 6-3 with the conservative justices in the majority and liberal justices dissenting. The Trump administration had embraced the war on "deep state" agency power, selecting judicial nominees in part based on their hostility to the federal bureaucracy.

Persons: WASHINGTON —, Chevron, John Roberts, Elena Kagan, Reagan, Magnuson, Trump, Gorsuch, Kavanaugh, Barrett, Joe Organizations: U.S, Supreme, WASHINGTON, Chevron, Natural Resources Defense, Liberal, Republican, Democratic, National Marine Fisheries Service, Stevens Fishery Conservation, Management, Trump Locations: Washington , U.S, New England

☆ The Supreme Court discards Chevron doctrine, unleashing a threat to Biden's climate policies
▼ + stars: | 2024-06-28 | by ( Catherine Boudreau | ) www.businessinsider.com time to read: +4 min

The Supreme Court on Friday overturned a decades-long legal precedent that has empowered the federal government to regulate the environment and other issues, unleashing a potential threat to President Joe Biden's climate policies. The court overruled the Chevron doctrine, one of the most important principles guiding federal regulation for the past 40 years. Last year, the Supreme Court significantly narrowed how many wetlands EPA can regulate to keep them clean. How did this case end up at the Supreme Court? They argued the Chevron doctrine injures small businesses and individuals who have little power to influence federal agencies.

Persons: Joe Biden's, Chevron, John Roberts, Joe Biden, Biden, Raimondo, Charles Koch Organizations: Service, Business, Environmental Protection Agency, Republican, Bright Enterprises, Inc, Department of Commerce, Action Institute, Chevron, Appeals, District of Columbia Circuit, National Marine Fisheries Service Locations: Chevron

☆ Crypto company Consensys sued by SEC as regulator continues industrywide crackdown
▼ + stars: | 2024-06-28 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +2 min

Crypto firm Consensys has been added to the SEC's list of targets, as the regulator continues its industrywide crackdown. "Consensys violated the federal securities laws by failing to register as a broker and failing to register the offer and sale of certain securities," the court filing alleges. In April, Consensys, which provides blockchain software, tried to preempt the SEC's action with its own lawsuit, alleging overreach on the part of the regulator. The 10-year-old company said its suit followed three subpoenas issued last year, plus a Wells notice from the SEC that claimed Consensys was violating federal securities laws. Consensys said in an emailed statement Friday that the action is part of an "anti-crypto agenda" at the SEC.

Persons: Crypto, Consensys, overreach, Wells Organizations: Securities, Exchange Commission, SEC, Ethereum Locations: Brooklyn , New York, Consensys

☆ SCOTUS seems determined to dismantle the administrative state. It will make regulating major industries tougher.
▼ + stars: | 2024-06-28 | by ( Natalie Musumeci | Katie Balevic | ) www.businessinsider.com time to read: +8 min

Then, according to Hockett, the case would be heard by an administrative court. Straight to federal court. "These two rulings largely amputate the two most important arms that our regulatory agencies use every day in overseeing our industrial economy," Hockett said. AdvertisementIn overturning the Chevron doctrine in a 6-3 decision, the high court has hamstrung federal agencies' regulatory powers. Panuccio said that he supported the decisions and called them "important checks on administrative power."

Persons: —, Elena Kagan, Robert Hockett, SCOTUS, Friday's, Hockett, John Roberts, Roberts, Jonathan Siegel, Siegel, Jarkesy, It's, Rachel Weintraub, Weintraub, Jesse Panuccio, Trump, Panuccio Organizations: Service, United States, Securities, Exchange, Business, Cornell University, Environmental Protection Agency, EPA, Chevron, Natural Resources Defense Council, SEC, George Washington University, Coalition, Sensible Locations: North America

☆ Weakening Regulatory Agencies Will Be a Key Legacy of the Roberts Court
▼ + stars: | 2024-06-28 | by ( Charlie Savage | ) www.nytimes.com time to read: +1 min

Twice in two days, the Supreme Court’s conservative supermajority has issued sweeping rulings that cut against established precedents and will hamstring the ability of regulatory agencies to impose rules on powerful business interests. On Friday, the six Republican-appointed justices overturned a 40-year-old foundational part of administrative law, the Chevron doctrine, which will make it easier to successfully challenge regulations in court by eliminating a requirement that courts defer to the expertise of federal agencies in interpreting their laws. The day before, the justices had struck down a key practice used by many agencies to enforce rules via in-house tribunals, rather than suing accused malefactors in federal court before juries. Each decision turned on a different rationale, but both pointed in the same direction: eroding the power of the federal regulatory bureaucracy. And the pair of decisions are only the most recent notes to sound that theme, making clear that the current majority’s pursuit of a deregulatory agenda will be part of its legacy.

Persons: malefactors Organizations: Republican Locations: Chevron

☆ A Boeing whistleblower says he saw holes being drilled incorrectly on 787 planes, adding to the chorus of people speaking up against the company
▼ + stars: | 2024-06-27 | by ( Aditi Bharade | ) www.businessinsider.com time to read: +4 min

Read previewAnother Boeing whistleblower has come forward, saying that he witnessed 787 Dreamliner planes being built in a manner that could lead to a "catastrophe down the line." Richard Cuevas was a Strom airplane mechanic who used to work as a contractor for Boeing and Spirit AeroSystems. He said that in 2023, he witnessed substandard manufacturing of the 787 planes' forward pressure bulkheads, which help maintain air pressure. AdvertisementHowever, in March, a few months after he reported his findings to Boeing and Spirit AeroSystems, he was fired from his job, the complaint said. Cuevas' lawyers and representatives of Boeing and Spirit AeroSystems didn't immediately respond to a request for comment from Business Insider, made outside regular working hours.

Persons: —, Richard Cuevas, Cuevas, AeroSystems, Sam Mohawk, Merle Meyers, John Barnett, Barnett, BI's Matthew Loh, AeroSystems didn't Organizations: Service, Boeing, Business, Federal Aviation Administration, Korean, Max, United Airlines Boeing, San Francisco International, Alaska Airlines Locations: Charleston, Taiwan

☆ Here's how inflation has ratcheted up the cost of basics like housing and food for families across the US
▼ + stars: | 2024-06-27 | by ( Juliana Kaplan | Noah Sheidlower | ) www.businessinsider.com time to read: +4 min

ALICE Americans make above the federal poverty level but not enough to comfortably afford all their daily expenses, often making too much to qualify for government assistance. The ALICE Essentials Index, which includes housing, childcare, food, transportation, healthcare, and technology costs, has risen by a projected 7.3% annually from 2021 to 2023; comparatively, CPI has risen by 6.1%. The ALICE Essentials Index for rural areas was slightly higher than that for urban areas, at 7.5% and 7.2%, respectively. "Long before everybody else was upset about inflation, ALICE was dealing with inflation," Hoopes said. Still, ALICE Americans tend to be overrepresented in these roles, as many pay below the ALICE threshold of about $55,000 a year.

Persons: —, ALICE —, ALICE Americans, ALICE, Stephanie Hoopes, United For ALICE, Hoopes, There's Organizations: Service, Business, CPI, United For, United Locations: West, Georgia, Florida, South Carolina, Midwest, Northeast

☆ IMF says Fed should hold interest rates where they are until 'at least' end of year
▼ + stars: | 2024-06-27 | by ( Hakyung Kim | ) www.cnbc.com time to read: +1 min

The Federal Reserve should wait to cut interest rates until "at least" the end of the year, according to the head of the International Monetary Fund. The U.S. is the only G20 economy to see growth above pre-pandemic levels, and "robust" growth indicates ongoing upside risks to inflation, the 190-country agency said. "We do recognize important upside risks," IMF Managing Director Kristalina Georgieva said at a press briefing on Thursday. "Given those risks, we agree that the Fed should keep policy rates at current levels until at least late 2024." The Fed's current fed funds rate has stood within the range of 5.25% to 5.50% since July 2023.

Persons: Kristalina Georgieva, Georgieva Organizations: International Monetary Fund, The, IMF Locations: The U.S, U.S

☆ Fact checking the CNN presidential debate
▼ + stars: | 2024-06-27 | by ( Cnn Staff | ) edition.cnn.com time to read: +69 min

CNN —President Joe Biden and former President Donald Trump faced off during CNN’s presidential debate in Atlanta Thursday night. From CNN’s Daniel DaleFormer President Donald Trump and President Joe Biden debate at CNN's Atlanta studios on June 27, 2024. From CNN’s Daniel Dale and Ella NilsenFormer President Donald Trump, left, and President Joe Biden take part in the CNN presidential debate on Thursday, June 27. From CNN’s Alicia WallaceFormer President Donald Trump and President Joe Biden debate at CNN's Atlanta studios on June 27, 2024. Kpler found that China imported about 511,000 barrels per day of Iranian crude in December 2020, Trump’s last full month in office.

Persons: Joe Biden, Donald Trump, Biden, Trump “, “, ” Trump, ”, Trump, ” John Kelly, servicemembers, Kelly, Jim Sciutto, Daniel Dale, Kaanita Iyer, Roe, Wade, That’s, Wade ”, Kimberly Mutcherson, “ Donald Trump’s, Maya Manian, Trump’s, Mary Ziegler, Davis, Ziegler, Ruth Bader Ginsburg, Roe should’ve, ’, Will Lanzoni, ” Biden, corpsman —, Hamid Karzai, CNN’s Haley Britzky, didn’t, Priscilla Alvarez, George Floyd, Tim Walz, Walz, Paul –, CNN’s Holmes Lybrand, Daniel Dale FACT, European Union won’t, Ella Nilsen, Jill Biden, Jake Tapper, Dana Bash, Adam Rose, CNN US Sen, Marco Rubio, CNN Trump, Austin Steele, CNN Biden, Tristen Rouse, CNN Tapper, Robert F, Kennedy Jr, Kennedy, CNN MJ Lee, Mandel Ngan, Megan Varner, Reuters Kennedy, Burk Stringfellow, Iran “, Mike Pompeo, ” Pompeo, Tami Luhby Trump, CNN’s KFILE, weren’t, Hillary Clinton, affirmatively, it’s, what’s, –, Alicia Wallace, Obama, CNN’s Ella Nilsen, you’re, Biden’s, Hunter Biden, Joe Biden’s, Viktor Shokin, Shokin, CNN’s Marshall Cohen, “ It’s, Rick Muskat, CNN.So, Morgan, Katie Lobosco, Alvin Bragg’s, Bragg, Jack Smith, Smith, General Merrick Garland, Garland, Matthew Colangelo, Colangelo, I’ve, there’s, Iran haven’t, ” Matt Smith, Ali Vaez, Kpler, Gary Engelhardt, Jason Richwine, ” Richwine, Tami Luhby, Confederate, Robert E, Lee, marchthat, “ I’m, Elle Reeve, Ralph Northam, Jen Christensen, ” Trump’s, Ronald Reagan’s, Barack Obama, George W, ‘, ’ ” Trump, CNN’s Jen Christensen, Pelosi, Nancy Pelosi, “ Nancy Pelosi, …, Alexandra Pelosi, Aaron Bennett, Cherry, Christopher Miller, Miller, Charis Kubrin, CNN’s Catherine Shoichet, ” Kubrin’s, Graham Ousey, College of William & Mary, Erwan, George Washington, Marshall Cohen, ” Howard Gleckman, Gleckman, Emmanuel Saez, Gabriel Zucman “, Howard Gleckman, ” Gleckman Organizations: CNN, Trump, Homeland Security, SSRS, Marquette Law School, NBC, Gallup, ” Rutgers Law, American University, university’s Health, University of California, Atlanta, US Navy, Border Patrol, Border Patrol Council, National Guard, Minneapolis Former, Minnesota Democratic Gov, Minnesota National Guard, Guard, EU, European Union, US, European Automobile Manufacturers ’ Association, CNN US, Biden, House, CNN Biden's, CNN Biden, White House, Getty, Reuters, State, Medicare, Black, of Labor Statistics, Republican, Burisma Holdings, International Monetary Fund, Republicans, House Republicans, US International Trade Commission, US Customs, Deer Stags, Peterson Institute for International Economics, Justice Department, DOJ, DC, federal, Department, Democrat, Americas, Crisis, Social Security, Social, General Internal Medicine, “, Syracuse University, Center for Immigration Studies, Electoral, White, Nazi, US Centers for Disease Control, Former Virginia Gov, United, China Former, China, Hamas, ISIS, Trump’s, Democratic, Congressional, Capitol, Colorado Supreme Court, US Food, Guttmacher Institute, California Democrat, Capitol Police Board, Senate, District of Columbia National Guard, College of William &, NATO, Atlantic Treaty Organization, George Washington University’s Elliott School of International Affairs, Transatlantic, Urban, Brookings Tax, Urban Institute, ”, Tax, Center Locations: Atlanta, France, Afghanistan, Kabul, Jordan, Iran, Somalia, Yemen, Yakushima Island, Japan, Minneapolis, Portland, Minnesota , Minneapolis, St, EU, Georgia, CNN's, Washington ,, AFP, Lebanon, Israel, what’s, Paris, China, India, Russia, United States, Ukrainian, Ukraine, lockstep, American, Manhattan, New York , Georgia, Florida, Washington, New York, York’s, Mexico, Kpler, Malaysia, Charlottesville, Charlottesville , Virginia, White, Virginia, Northam, East, “, New York City, Saudi, al Qaeda, Texas, Colorado, California, Trump, Irvine, Germany, Berkeley

☆ The housing market is ‘stuck’ until at least 2026, Bank of America warns
▼ + stars: | 2024-06-27 | by ( Matt Egan | ) edition.cnn.com time to read: +5 min

Economists at Bank of America warned this week that the US housing market is “stuck and we are not convinced it will become unstuck” until 2026 — or later. And mortgage rates may not fall much — even if the Federal Reserve finally delivers long-delayed interest rate cuts. There isn’t a magic fix,” Michael Gapen, head of US economics at Bank of America, told CNN in a phone interview. However, Bank of America expects housing starts — which is a measure of newly constructed homes — to remain flat for the coming years. Divide between haves and have-notsThe forecast for a “stuck” housing market cuts both ways.

Persons: unstuck, —, Michael Gapen, “ It’s, ”, ‘, Dave Liniger, ” Liniger, Liniger, “ Don’t Organizations: New, New York CNN, Bank of America, Federal Reserve, CNN, ”, ” Bank of America, Gallup Locations: New York, America

☆ Increase in expenses and risks impacts Fed's bank 'stress test' results, says BofA's Poonawala
▼ + stars: | 2024-06-27 | 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 EmailIncrease in expenses and risks impacts Fed's bank 'stress test' results, says BofA's PoonawalaEbrahim Poonawala, Bank of America Securities senior North American banks analyst, joins CNBC's 'Squawk Box' to discuss the Federal Reserve's stress test on banks, the health of regionals, and more.

Persons: BofA's Poonawala Ebrahim Poonawala Organizations: Bank of America Securities Locations: American

☆ Opinion: Don’t underestimate moms ahead of the 2024 election
▼ + stars: | 2024-06-27 | by ( Opinion Reshma Saujani | ) edition.cnn.com time to read: +5 min

Put another way, this isn’t going to be an “abortion” election or an “economy” election: 2024 is going to be the mom election. That decline is largely attributed to one key cost: child care. Both have since lapsed, leaving many families to teeter on (or fall off) a “child care cliff.”In 2024, the cost of child care — the cost of motherhood — has become untenable. They don’t see “motherhood issues,” such as child care and paid leave, as substantive, economic issues worth fighting for. For decades, moms have been divided — working moms versus stay-at-home-moms, single moms versus coupled moms, Moms for Liberty versus Moms Demand Action.

Persons: CNN — Kellyanne Conway, Reshma, Biden, Donald Trump, ” Conway, Conway, —, who’ve, we’re, ” isn’t, they’re, Trump Organizations: CNN, “, New York Times, ”, Federal, Household Economics, Liberty, Twitter, Republicans Locations: teeter

☆ Here are the portfolio's top 5 performing stocks since May's Monthly Meeting
▼ + stars: | 2024-06-27 | by ( Morgan Chittum | ) www.cnbc.com time to read: +7 min

The stock market had another great run since the Club's May Monthly Meeting. Here's our top-five performing portfolio names since the May 30 close through Wednesday's close, the eve of our June Monthly Meeting. AVGO YTD mountain Broadcom (AVGO) year-to-date performance Broadcom took the top spot since the May Monthly Meeting, jumping 16.7% in that timeframe. And on Wednesday, the stock mounted a late-day comeback to close up 0.25% on the day of its annual shareholder meeting. Even with their recent comeback, Salesforce shares are down more than 10% from their close May 29.

Persons: —, We're, It's, Salesforce, Snowflake —, we've, Davidson, Jim Cramer's, Jim Cramer, Jim, Brendan Mcdermid Organizations: Federal Reserve, Nasdaq, Club, Nvidia, Broadcom, dethroning Club, Microsoft, Tuesday's, Apple Intelligence, Apple, Rosenblatt Securities, Networks, Palo Alto, CNBC, Traders, New York Stock Exchange Locations: Wednesday's, China, Palo, New York City

☆ Treasury yields rise as investors look to key data
▼ + stars: | 2024-06-27 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

ET, the yield on the 10-year Treasury was up by over two basis points to 4.3411%. The 2-year Treasury yield was last at 4.7576% after rising by less than one basis point. U.S. Treasury yields were higher on Thursday as investors looked to economic data for hints about the outlook for the economy and monetary policy. Economic data slated for Thursday includes weekly initial jobless claims, May's durable goods orders and pending home sales figures, also for May. That comes after data released Wednesday showed that new home sales fell over 11% in May.

Persons: Dow, Dow Jones, Michelle Bowman Organizations: Treasury, Dow Jones, Federal

☆ Stock market today: Indexes edge higher, yields fall ahead of the Fed's favorite inflation gauge
▼ + stars: | 2024-06-27 | by ( Max Adams | ) www.businessinsider.com time to read: +3 min

Stocks ended Thursday slightly higher ahead of a key update on inflation. PCE for May will be published on Friday morning, providing new hints about when rate cuts may be coming. Chip firms Nvidia and Micron dipped in Thursday's session, though the broader Nasdaq edged higher. Bond yields dipped ahead of the new data, with the 10-year Treasury yield falling about two basis points to 4.292%. "More recent data have moved in the right direction, but not by enough to convince the Fed that inflation is whipped."

Persons: Stocks, —, economy's, Bill Adams, Michelle Bowman, Keith Gill Organizations: PCE, Nvidia, Micron, Nasdaq, Service, Commerce Department, Treasury, Friday's PCE, Federal Reserve, Comerica Bank, Fed, Here's Locations: Friday's, U.S, Chewy

Here's a rapid-fire update on all 33 stocks in Jim Cramer's Charitable Trust, the portfolio we use for the CNBC Investing Club. Best Buy : Jim said Best Buy's pullback in recent days has created a buying opportunity in the electronics retailer. Salesforce : The stock has in recent weeks clawed back some of its post-earnings plunge , even before Thursday's 6% surge. Wynn Resorts : Wynn is another stock in the portfolio that, it's become increasingly clear, trades based on its exposure to China. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Jim Cramer's, Jim, Wall, Abbott, Johnson, We're, haven't, it's, Walt Disney, Estee Lauder, levered, Eli Lilly, Lilly, Morgan Stanley, Goldman Sachs, OpenAI, Jensen Huang, Nikesh Arora's, Stanley Black, Decker, TJX, We've, Wells, Charlie Scharf poaches, Wynn, Jim Cramer, Michael M Organizations: Jim Cramer's Charitable Trust, CNBC, Club, Apple, Abbott Laboratories, Prime, Web, Broadcom, VMWare, Costco Wholesale, Costco, Coterra Energy, DuPont, Walt, Disney, Nvidia, Ford Motor, Ford, Blue, Motors, GE Healthcare, GE, Management, Honeywell, Linde, Microsoft, Palo Alto Networks, Procter & Gamble, Constellation Brands, Modelo, Corona, Fed, TJX, JPMorgan, Wynn Resorts, Wynn, Jim Cramer's Charitable, Traders, New York Stock Exchange, Santiago, Getty Locations: China, Covid, Dover, Eaton, Palo Alto, U.S, Wells Fargo, Las Vegas

☆ Markets are adjusting to stubborn inflation. Election noise could spoil the calm
▼ + stars: | 2024-06-27 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

Add to that the noise surrounding the US election, and it could be a rougher second half. Central Banks in Canada and the eurozone have both cut interest rates, but inflation rose in both of those regions last month. Australia, meanwhile, saw its inflation rate rise to 4% this week, stoking fears that the Reserve Bank of Australia could soon move to raise rates again. It was already well known that no documentation was found to show who worked on the door plug. Without the bolts, the door plug incident was pretty much inevitable.

Persons: London CNN —, they’ve, Michelle Bowman, she’s, Mary Daly, Austan Goolsbee, stoking, Joe Biden, Donald Trump, ”, José Torres, Torres, wouldn’t, Joseph Stiglitz, Trump, Trump’s, Max, “, Al Michaels, Michaels, Peacock, ” Michaels, ‘, CNN Michaels, Read Organizations: CNN Business, Bell, London CNN, Federal Reserve, foibles, San Francisco Fed, Chicago Fed, Central Banks, Reserve Bank of Australia, Interactive Brokers, Treasury, Trump, Peterson Institute, Oxford Economics, Allianz, CNN, Boeing, Alaska, Alaska Airlines, National Transportation Safety Board, Alaska Air, NBC, Summer Games, Olympics Locations: London, Canada, Australia, Renton , Washington, Paris, ’

☆ Ryan: Investors should view the banks as being in a great position from a capital perspective
▼ + stars: | 2024-06-27 | 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 EmailRyan: Investors should view the banks as being in a great position from a capital perspectiveDevin Ryan of Citizens JMP discusses the Fed's latest stress tests, and whether banks will be more conservative with their capital return plans than in past years.

Persons: Ryan, Devin Ryan, JMP

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