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☆ Thai central bank unexpectedly cuts key rate by 25 basis points
▼ + stars: | 2024-10-16 | by ( ) www.cnbc.com time to read: +1 min

Growing political pressure aside, Thailand's weak economy adds to the case for the central bank to cut interest rates sooner rather than later, according to money managers. Thailand's central bank unexpectedly cut its key interest rate at a policy review on Wednesday, a move long called for by the government as needed to revive a sluggish economy with inflation below target. The Bank of Thailand's monetary policy committee voted 5 to 2 to reduce the one-day repurchase rate by 25 basis points to 2.25%, after the rate had been a decade-high of 2.50% since September 2023. The previous change in policy was a 25 basis point rate rise in September last year. The World Bank has forecast the economy will grow 2.4% this year and 3.0% next year.

Organizations: Bank

☆ Gold ticks up as Treasury yields slip; U.S. retail sales data in focus
▼ + stars: | 2024-10-16 | by ( ) www.cnbc.com time to read: +2 min

Gold prices inched higher on Wednesday, as U.S. Treasury yields eased, while market participants waited for more U.S. economic data to determine the number of interest rate cuts the Federal Reserve is likely to deliver in the near term. Spot gold rose 0.3% to $2,667.97 per ounce by 0217 GMT, $17 shy of a record high hit last month. The 10-year Treasury yields slipped for a third straight session, making zero-yield bullion more appealing. "The game changer in gold prices is the U.S. monetary policy easing as it sets the stage for investment demand," said ANZ commodity strategist Soni Kumari. Delegates to the London Bullion Market Association's annual gathering predicted gold prices would rise to $2,941 over the next 12 months and silver prices would jump to $45 per ounce.

Persons: Soni Kumari, Mary Daly, Raphael Bostic, Benjamin Netanyahu, Emmanuel Macron Organizations: SA, Treasury, Federal Reserve, ANZ, San Francisco Federal Reserve Bank, Atlanta Fed, London Locations: Budapest, Hungary, U.S, rearming

☆ Top Wall Street analysts are boosting stock market forecasts as the bull market charges on
▼ + stars: | 2024-10-16 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +4 min

A number of bank research desks have raised their S&P 500 price targets in recent weeks. AdvertisementThe bull market hasn't weakened in the fourth quarter, and top bank research desks have been rushing to raise their S&P 500 price targets into year-end. AdvertisementBelski said his upgrade was based on strong market gains so far this year, which he says typically leads to stronger-than-normal gains in the fourth quarter. Lakos-Bujas kept his 4,200 price target for the S&P 500 unchanged, though. AdvertisementThe more upbeat 2024 forecasts come as the bull market charges on, with the S&P 500 up 3.2% in the last month and 22.6% this year.

Persons: —, hasn't, Goldman Sachs, Jonathan Golub, Patrick Palfrey, David Kostin, Kostin, Brian Belski, Belski, Dubravko Lakos, Bujas Organizations: Service, UBS, BMO, Deutsche Bank, Bloomberg, Reserve

Here's a rapid-fire update on all the stocks in Jim Cramer's Charitable Trust, the portfolio we use for the CNBC Investing Club. Broadcom: Of course, we love the company's AI business — both its custom silicon solutions for companies such as Alphabet and its networking chips that help stitch data centers together. Stanley Black & Decker: Jim said that this stock is the "most significant beneficiary" from lower rates in the entire portfolio. 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: Jim Cramer's, Jim, there's, Lisa Su, Wells, Salesforce, CrowdStrike, it's, we've, Walt Disney, —, Eaton, we're, Kamala Harris, Harris, Jim's, Linde, Eli Lilly, Lilly isn't, That's, Morgan Stanley, Goldman Sachs, D.A, Satya Nadella's, Palo, cybersecurity, Brian Niccol, We're, Stanley Black, Decker, TJX, Charlie Scharf, Wells Fargo's, Jim Cramer, Angela Weiss Organizations: Jim Cramer's Charitable Trust, CNBC, Club, Apple Intelligence, Abbott Laboratories, Devices, AMD, Nvidia, Broadcom, Apple, Federal Reserve, Costco Wholesale, Costco, Coterra, DuPont, Disney, ESPN, GE Healthcare, Democratic, Biden, Honeywell, Linde, Adobe, Microsoft, Davidson, Palo Alto Networks, Constellation Brands, Modelo, Corona, TJX, Jim Cramer's Charitable, New York Stock Exchange, AFP, Getty Locations: Wells Fargo, BlackRock, Dover, Eaton, China, U.S, Chipotle, New York City

☆ Retail spending report could show consumers still pouring money into the economy
▼ + stars: | 2024-10-16 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Consumer spending was expected to hold strong in September, possibly even more than forecast and enough to throw another wrinkle into the Federal Reserve's thought process. "If retail sales accelerate considerably, in our view, the narrative may shift further toward 'no landing' or even re-acceleration." "Monthly retail sales data can be volatile. For now, Bhave thinks a strong sales report will "probably not … at least, not yet" hit Fed policy. At the same time the retail report drops, the Labor Department will issue its weekly reading on initial unemployment claims.

Persons: Dow Jones, Aditya Bhave, Bhave, Hurricanes Helene, Milton Organizations: Bank of America, Fed, Labor Department, Hurricanes, Boeing Locations: Michigan

☆ We're raising our Morgan Stanley price target after a post-earnings stock surge to record highs
▼ + stars: | 2024-10-16 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

Morgan Stanley shares soared to all-time highs Wednesday after third-quarter beats on the bank's top and bottom lines, with strength seen across the board. MS YTD mountain Morgan Stanley YTD Club stock Morgan Stanley was up 7.5%. Morgan Stanley outpaced expectations in just about every aspect of each operating division and put up very strong quarterly results in terms of firmwide key performance indicators. Given its 15.1% CET1 ratio, Morgan Stanley has plenty of excess capital at its disposal to both continue investing in growth and return excess capital to shareholders. Morgan Stanley Why we own it : We own Morgan Stanley for the rebound taking place in IPO and M & A activity along with growth in wealth management, which provides more durable fee-based revenues.

Persons: Morgan Stanley, Wells Fargo, Morgan Stanley's, Sharon Yeshaya, Morgan Stanley repurchased, Goldman Sachs, Ted Pick, Morgan, Yeshaya, That's, Eaton Vance, Jim Cramer's, Jim Cramer, Jim, Bing Guan Organizations: Revenue, LSEG, Morgan Stanley YTD, Investment, Bloomberg, Institutional Securities, Bank of Japan, CNBC, Getty Locations: Wells Fargo

☆ These 5 portfolio stocks outperformed the market's incredible run since our September Monthly Meeting
▼ + stars: | 2024-10-16 | by ( Morgan Chittum | ) www.cnbc.com time to read: +6 min

We did hold onto our rate-sensitive names like Wells Fargo and Morgan Stanley , which were among the best performers since the last Monthly Meeting. Morgan Stanley: 16.2% Following the Fed's decision, shares advanced as investors became more optimistic about a soft landing for the U.S. economy. Morgan Stanley benefits from lower rates — and, in turn, a better economy — because it can usher in more Wall Street dealmaking such as initial public offerings and mergers and acquisitions. That's because the Club has been debating exiting Morgan Stanley altogether for a potentially better investment banking rebound play like Goldman Sachs. Morgan Stanley reiterated its buy-equivalent rating on Oct. 10, arguing that Eaton has a positive setup into earnings season.

Persons: It's, Wells, Morgan Stanley, Morgan, Goldman Sachs, Morgan Stanley's, Salesforce, Marc Benioff, Piper Sandler, Guggenheim, Meta, Eaton, Jim Cramer's, Jim Cramer, Jim, Angela Weiss Organizations: Dow Jones Industrial, Dow, Procter, Gamble, Meta, Fed, Northland Capital Markets, UBS, Citigroup, Analysts, JPMorgan, Jim Cramer's Charitable, CNBC, Traders, New York Stock Exchange, AFP, Getty Locations: U.S, Wells Fargo, Salesforce, Eaton, Tuesday's, Northland

☆ Fed Governor Waller says 'more caution' needed on rate cuts after data showing a hot economy
▼ + stars: | 2024-10-15 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +3 min

Fed Governor Christopher Waller says recent data shows the Fed should ease more cautiously. The Fed cut rates by a50-basis points last month and is expected to make a smaller cut next month. AdvertisementWaller said recent data, though, shows an economy that's still hot. He pointed to recent data on employment, inflation, income and gross domestic product. Waller said he will be watching closely for any further data that shows the Fed should ease less aggressively.

Persons: Christopher Waller, Waller, —, Waller's Organizations: Service, Stanford University, Fed

☆ CNBC Daily Open: The economy and inflation might stay strong
▼ + stars: | 2024-10-15 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +3 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Data on employment, inflation and economic growth have signaled that the "economy may not be slowing as much as desired," Waller said. A soft landing is the scenario in which inflation drops to the Fed's 2% target while economic growth and employment remain healthy. A "no landing," on the other hand, is when the economy continues expanding as inflation remains high.

Persons: Jefferies, Kelly Ortberg, Christopher Waller, Waller, Fed Governor Waller, Henry Allen, Ohsung Kwon, BofA, Kwon, –, Jeff Cox, Sarah Min, Lisa Kailai Han, Yun Li Organizations: Shoppers, Miami Design District, CNBC, Grand View Research, Boeing, P Global, U.S . Federal, Fed, Deutsche Bank, Bank of America Securities Locations: Miami , Florida, U.S

☆ Rally in Chinese stocks is showing some exhaustion. How to trade it from here with options
▼ + stars: | 2024-10-15 | by ( Nishant Pant | ) www.cnbc.com time to read: +3 min

However, stocks don't usually climb in a straight line, and many of these names are showing signs of exhaustion after a significant rally. This time, I'm introducing a new indicator for my trade setup: the MACD (Moving Average Convergence Divergence). In the case of BABA, the blue line (the MACD line) is crossing below the yellow line (the signal line). The trade To capitalize on a pullback in BABA, I'm using a trade structure called a "bear put spread." For example, if BABA is trading at $102, I would buy a $103 put (higher strike) and sell a $101 put (lower strike) to complete the trade setup.

Persons: I'm, it's, BABA, Nishant Pant Organizations: PDD Holdings, Baidu, Futu Holdings, CNBC, NBC UNIVERSAL Locations: BABA

☆ Treasury yields inch higher after Columbus Day holiday
▼ + stars: | 2024-10-15 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

The 2-year Treasury yield was last at 3.9560%, rising over one basis point. U.S. Treasury yields were slightly higher on Tuesday as bond markets reopened after the Columbus Day holiday. Investors were assessing the outlook for the economy as they considered the latest comments from Federal Reserve officials and looked to economic data due throughout the week. Investors are also looking ahead to upcoming economic data releases, including fresh insights from the manufacturing sector on Tuesday, as well as the latest consumer inflation expectations report. In Europe, the next interest rate decision from the European Central Bank is due on Thursday.

Persons: Neel Kashkari, Christopher Waller Organizations: Treasury, Columbus, Federal Reserve, Minneapolis, European Central Bank, ECB Locations: U.S, Europe

☆ Fed Governor Waller sees need for 'more caution' ahead when lowering interest rates
▼ + stars: | 2024-10-14 | by ( Jeff Cox | Jeff Cox Is A Finance Editor With Cnbc.Com Where He Covers All Aspects Of The Markets | Monitors Coverage Of The Financial Markets | ) www.nbcnews.com time to read: +2 min

Federal Reserve Governor Christopher Waller on Monday signaled that future interest rate cuts will be less aggressive than the big move in September as he expressed concern that the economy could still be running at a hotter-than-desired pace. The Federal Open Market Committee at its September meeting took the unusual step of lowering its baseline interest rate by a half percentage point, or 50 basis points, to a target range of 4.75%-5.0%. Along with the cut, officials indicated the likelihood of another half point lopped off in the final two meetings of 2024, along with another full percentage point of cuts in 2025. In the final revision for second-quarter growth, the Commerce Department also punched up the level of gross domestic income gain to 3.4%, an adjustment of 2.1 percentage points from the previous estimate and closer in line with GDP. “These revisions suggest that the economy is much stronger than previously thought, with little indication of a major slowdown in economic activity,” Waller said.

Persons: Christopher Waller, ” Waller, Waller, ” Organizations: Federal, Stanford University, The, Fed, Commerce Department

☆ 5 reasons why inflation will be stickier than expected going forward, Deutsche Bank says
▼ + stars: | 2024-10-14 | by ( Filip De Mott | ) www.businessinsider.com time to read: +4 min

Investors need to be wary as sticky inflation remains a risk, Deutsche Bank says. But it's not yet time for investors to relax, Deutsche Bank wrote on Monday. "If inflation does return, this could have very important implications for markets," Deutsche Bank strategists said. While that much is true, history shows that easing cycles are precisely the time to be cautious over inflation, Deutsche said. The firm cited the fact that in August, US M2 money supply rose 2.0% year-over-year, the highest growth rate since September 2022.

Persons: —, Brent, Deutsche Organizations: Deutsche Bank, Service, Federal Reserve, Deutsche, Atlanta Locations: China, Israel, Iran, Iranian

☆ Stock market today: S&P 500 hits another record close as rally presses on amid earnings
▼ + stars: | 2024-10-14 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

US stocks hit record highs on Monday as investors get ready for a wave of earnings reports. Over 80 S&P 500 companies, including Netflix and Goldman Sachs, report earnings this week. Monday's close marked the S&P 500's 46th record close of the year, as investors continue to power the two-year-old bull market higher. More than 80 S&P 500 companies are scheduled to report third-quarter earnings results this week, with major names like Netflix, Goldman Sachs, and Morgan Stanley on deck. According to data from Fundstrat, 6% of S&P 500 companies have already reported their results.

Persons: Goldman Sachs, Fed Governor Waller, —, Monday's, Morgan Stanley, Adriana Kugler, Christopher Waller, Waller Organizations: Netflix, Fed, Service, Dow Jones, Dow, Federal, Stanford University's Hoover Institution Locations: Fundstrat, Here's

☆ Singapore keeps monetary policy steady as third-quarter growth picks up
▼ + stars: | 2024-10-14 | by ( ) www.cnbc.com time to read: +2 min

"The risks to Singapore's inflation outlook are more balanced compared to three months ago," MAS said in a statement, adding that growth momentum has picked up. The Monetary Authority of Singapore said it will maintain the prevailing rate of appreciation of its exchange rate-based policy band known as the Nominal Effective Exchange Rate, or S$NEER. Capital Economics markets economist Shivaan Tandon concurred, saying "the risk of keeping monetary policy too tight for too long will take center stage soon prompting the central bank to pivot". Singapore is often seen as a bellwether for global growth as its international trade dwarfs its domestic economy. As a heavily trade-reliant economy, Singapore uses a unique method of managing monetary policy, tweaking the exchange rate of its dollar against a basket of currencies instead of domestic interest rates like most other countries.

Persons: Selena Ling, Shivaan Tandon Organizations: MAS, Monetary Authority, Capital Economics Locations: Singapore, Singapore's

☆ Dollar extends gains while investors parse China's stimulus plans
▼ + stars: | 2024-10-14 | by ( ) www.cnbc.com time to read: +4 min

The dollar extended its gains in early Monday trades in Asia as a holiday in Japan sapped liquidity, leaving China's somewhat disappointing weekend stimulus announcements the focus of market attention. The dollar extended its gains in early Monday trades in Asia as a holiday in Japan sapped liquidity, leaving China's somewhat disappointing weekend stimulus announcements the focus of market attention. "Markets are likely disappointed that China's Finance Ministry did not unveil concrete additional stimulus," said Richard Franulovich, head of FX strategy at Westpac, in a note. The yuan is down 0.9% against the dollar since Sept. 24, when the People's Bank of China kicked off China's most aggressive stimulus measures since the pandemic. The yen and euro both fell around 0.3% each, sterling shed 0.4% and the dollar index climbed 0.4%.

Persons: Lan Foan, Richard Franulovich, Christopher Wong, Christopher Waller Organizations: Federal Reserve, Finance, China's Finance Ministry, Westpac, People's Bank of China, CSI, Fed, Traders, New Zealand Locations: Asia, Japan, China, Singapore, U.S, United States

☆ European Central Bank set for third interest rate cut of the year in meeting this week
▼ + stars: | 2024-10-14 | by ( Jenni Reid | ) www.cnbc.com time to read: +4 min

European flags flutter in front of the European Central Bank (ECB) building prior to a news conference following the meeting of the governing council of the ECB in Frankfurt/Main, Germany, on September 12, 2024. Daniel Roland | Afp | Getty ImagesThe European Central Bank is on course to deliver its third interest rate cut of the year at its meeting this Thursday, as policymakers say inflation risks are easing faster than previously expected. Headline price rises in the euro area cooled to 1.8% in September, below the central bank's 2% target. Bank of France Governor Francois Villeroy de Galhau last week described an October rate cut as "very likely" and said such a step "won't be the last." This led him to forecast ECB rate cuts will take place both this week and at each of the central bank's forthcoming meetings, until the deposit rate hits 2.5%.

Persons: Daniel Roland, Francois Villeroy de Galhau, Villeroy, Christine Lagarde, Joachim Nagel, Germany's Bundesbank, Jack Allen Organizations: European Central Bank, ECB, Afp, Getty, Bank of France, France, European Union, Citi, Media, U.S, U.S . Federal, Barclays, Capital Economics, Reynolds, Bank of America Global Research Locations: Frankfurt, Main, Germany, U.S .

☆ Monetary policy in the U.S. 'is still too restrictive,' strategist says
▼ + stars: | 2024-10-14 | 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 EmailMonetary policy in the U.S. 'is still too restrictive,' strategist saysMonica Defend, head of the Amundi Investment Institute, discusses the U.S. economy and markets.

Persons: Monica Organizations: Amundi Investment Institute Locations: U.S

☆ Don't let September's jobs report fool you — the labor market is still deteriorating at a worrying rate, economists warn
▼ + stars: | 2024-10-13 | by ( William Edwards | ) www.businessinsider.com time to read: +5 min

Small businesses also face tight credit conditions and are slowing hiring. AdvertisementThe September payrolls report seemed to switch the investor narrative around the labor market on a dime. Given the usual lags involved between changes in rates and activity, things will probably get worse for small businesses before they get better." "The labor market is not out of the woods just yet, and I continue to see another hiccup in the jobs market before year-end," Dutta wrote. AdvertisementStill, it's unclear how much pressure the labor market will come under in the months ahead.

Persons: —, bearish David Rosenberg, Rosenberg, Merrill Lynch, Samuel Tombs, Tombs, Neil Dutta, Dutta Organizations: Service, Fed, September's, Rosenberg Research, Pantheon, Macro Research, The Conference Board

☆ Turkey should continue tight, monetary policy until inflation at target, IMF says
▼ + stars: | 2024-10-12 | by ( ) www.cnbc.com time to read: 1 min

The International Monetary Fund called for continued tight, data-driven monetary policy in Turkey until inflation converges to target as it concluded an Article IV consultation. The policy turnaround has reduced economic imbalances and revived confidence the IMF said on Saturday, adding that improved market sentiment caused foreign and domestic investors to shift into lira-denominated assets. In a statement containing the executive board assessment of Turkish economic policies, the IMF said the central bank needs to ensure that the path of disinflation stays on track.

Organizations: Monetary, IMF Locations: Turkey

☆ Dollar bulls suffer setback as traders add to Fed cut bets
▼ + stars: | 2024-10-11 | by ( ) www.cnbc.com time to read: +3 min

The U.S. dollar fell from two-month highs hit overnight versus its major peers after signs of weakness in the labor market boosted the case for quicker Federal Reserve rate cuts. Bets for a quarter-point Fed rate cut on Nov. 7 increased to 83.3% from 80.3% a day earlier, with the remaining odds for policy to stay steady, according to the CME Group's FedWatch Tool. A week earlier, there was a 32.1% chance of a half-point reduction and 67.9% probability of a quarter-point cut. The dollar added 0.06% to 148.68 yen , inching back towards Thursday's high of 149.58 yen, a level previously not seen since Aug. 2. The Australian dollar held firm at $0.67395 after rebounding from its lowest since Sept. 16 at $0.6702 on Thursday.

Persons: Tapas Strickland, Austan Goolsbee, Raphael Bostic Organizations: U.S, Treasury, National Australia Bank, Fed, Chicago Fed, Atlanta Fed Locations: China

South Korea's central bank has cut its benchmark interest rate by 25 basis points to 3.25%, the first rate cut from the BOK since the Federal Reserve started tightening its monetary policy in March 2022. This was in line with a poll of economists from Reuters, who forecasted a rate cut. At that time, South Korea's inflation stood at 2.6%, but climbed sharply to hit 6.3% in July 2022, its highest in over 20 years. Oh noted that macro conditions are supportive of a rate cut, with a "favourable" inflationary backdrop. Oh predicts that after the October cut of 25 basis points, three more consecutive cuts will follow on a quarterly basis, eventually bringing the BOK's benchmark interest rate to 2.5%.

Persons: BOK, Morgan Stanley's, Kathleen Oh, We've, Morgan Stanley Organizations: Bank of, Federal Reserve, Reuters Locations: Bank of Korea, Seoul, Korea's, Korea

☆ Gold ticks up, U.S. inflation data in focus
▼ + stars: | 2024-10-10 | by ( ) www.cnbc.com time to read: +2 min

Gold prices nudged higher on Thursday, while traders await a key U.S. inflation data due later in the day to gauge the Federal Reserve's future monetary policy stance. Spot gold rose 0.2% to $2,614.00 per ounce by 0246 GMT, after easing for the previous six sessions. The U.S. Consumer Price Index for September is due at 1230 GMT and Producer Price Index data on Friday. Markets see an 80% chance of a 25-basis-point Fed rate cut in November. Dallas Fed Bank President Lorie Logan called for gradual cuts and said that the U.S. central bank should not rush.

Persons: Price, Ilya Spivak, Spivak, Mary Daly, Lorie Logan, Israel's Organizations: U.S, Consumer, Treasury, Fed, San Francisco Fed Bank, Dallas Fed Bank Locations: U.S, Iran

☆ Here's the next data point to watch as Wall Street eyes a 'no landing' scenario for the US economy
▼ + stars: | 2024-10-10 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +4 min

A big jump in retail spending would be the next data point indicating a "no landing" of the economy. A no-landing scenario occurs when strong economic growth fuels inflation and hinders rate cuts. Bank of America analysts expect September retail sales data, set for release on October 17, to show a 0.8% surge. "Monthly retail sales data can be volatile. If retail sales accelerate considerably, in our view, the narrative may shift further toward 'no landing' or even re-acceleration," they said.

Persons: —, Helene Organizations: Service, Bank of America, Bloomberg, Federal Reserve, Bank, America

☆ New Zealand central bank slashes rates by 50 basis points in second straight rate cut
▼ + stars: | 2024-10-09 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

A security guard stands in the main entrance to the Reserve Bank of New Zealand located in central Wellington, New Zealand, July 3, 2017. New Zealand's central bank has slashed its benchmark interest rate by 50 basis points after its monetary policy meeting, marking a second straight cut to its benchmark interest rate. The cut brings the Reserve Bank of New Zealand's interest rate to 4.75% from 5.25%. The central bank said at the time that the pace of further easing will depend on how confident it is about a low inflation environment. New Zealand's annual inflation rate hit 7.3% in the June quarter 2022, its highest level in over three decades.

Organizations: Reserve Bank of New, Reuters Locations: Reserve Bank of New Zealand, Wellington , New Zealand, New

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