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☆ This high-risk global bond fund isn't for everyone, but it's tempting investors with a 10% yield
▼ + stars: | 2023-07-19 | by ( Ganesh Rao | ) www.cnbc.com time to read: +6 min

For global investors, the Abrdn Frontier Markets Bond Fund is one example of a fund offering substantial returns. What are frontier markets? While there is no formal definition, frontier markets are typically low-income, developing countries with underdeveloped capital markets, according to Daly. Investment director for emerging market debt, Abrdn Kevin Daly The appeal of these frontier markets is twofold, according to Daly. Managing FX risks Managing foreign exchange risk is tricky in frontier markets, where hedging instruments are often inefficient or unavailable.

Persons: Kevin Daly, Daly, Fitch, You've, who's, … Organizations: Markets Bond, CNBC Pro, Monetary Fund, Bank Locations: U.S, Abrdn, Nigeria, Kenya, Iraq, Ecuador, Uzbekistan, Mozambique, Daly, Benin, African, Europe, South Korea, Singapore, Taiwan, stockbrokers

☆ Dollar licks wounds as policy peak looms
▼ + stars: | 2023-07-17 | by ( Tom Westbrook | ) www.reuters.com time to read: +3 min

The euro , which jumped 2.4% last week to a 16-month high, held just below that peak at $1.1223. The yen , also up 2.4% last week, held at 138.56 per dollar. The Australian and New Zealand dollars pulled back slightly, with the Aussie last at $0.6821 - off last week's peak of $0.6895 - and the kiwi down 0.2% at $0.6355 after hitting a five-month high of $0.6412 on Friday. The Swedish and Norwegian crowns made gains of more than 5% on the dollar last week, and have paused for breath. "By then other major central banks including the ECB will also likely have reached their peak policy rates ... interest rate dynamics may therefore swing back in favour of the dollar."

Persons: Carol Kong, Chris Weston, Sharp, Jane Foley, Tom Westbrook, Sam Holmes, Stephen Coates Organizations: SYDNEY, New Zealand, Commonwealth Bank of Australia, Federal Reserve, European Central Bank, Pepperstone, U.S, dovish Bank of Japan, ECB, Thomson Locations: Europe, Melbourne, Asia

☆ Dollar licks wounds as China data looms
▼ + stars: | 2023-07-17 | by ( Tom Westbrook | ) www.reuters.com time to read: +2 min

The euro , which jumped 2.4% last week to a 16-month high, held just below that peak at $1.1228. The yen , also up 2.4% last week, held at 138.69 per dollar. "The FX market is front running possible normalisation of Fed policy in 2024," said Chris Weston, head of research at broker Pepperstone in Melbourne. "The question then is whether the dollar sell-off has gone too far and we are at risk of mean reversion early this week." The Swedish and Norwegian crowns made gains of more than 5% on the dollar last week.

Persons: Chris Weston, Sharp, Jane Foley, Tom Westbrook, Sam Holmes Organizations: SYDNEY, Federal Reserve, European Central Bank, Pepperstone, U.S, New Zealand, dovish Bank of Japan, ECB, Thomson Locations: U.S, Europe, Melbourne, Asia

☆ Global stocks index flat, Dollar falls on mixed U.S. jobs data
▼ + stars: | 2023-07-07 | by ( Sinéad Carew | ) www.reuters.com time to read: +4 min

Still, the unemployment rate fell to 3.6% in June from 3.7% in May and average hourly earnings rose 0.4%, the same as May. On Thursday, private payroll provider ADP's strong U.S. labor market data had sparked an equities sell-off and boosted Treasury yields. While Friday's government data was initially met with a more muted market reaction, stocks gained some ground during the session before losing ground again in afternoon trading. The dollar slumped after the labor market data as some traders were betting that the Fed could cut rates sooner than previously expected. The dollar index fell 0.795%, with the euro up 0.73% to $1.0965.

Persons: Mike Segar, nonfarm payrolls, Quincy Krosby, payrolls, Sam Stovall, Stovall, Sterling, Brent, Sinéad Carew, Caroline Valetkevitch, Nell Mackenzie, Naomi Rovnick, Tom Westbrook, Andrew Heavens, David Holmes, Will Dunham, David Evans Organizations: Wall, New York Stock Exchange, REUTERS, Federal, U.S, CFRA Research, Dow Jones, Nasdaq, Fed, Treasury, Thomson Locations: Manhattan, New York City , New York, U.S, Charlotte , North Carolina, New York, London, Sydney

☆ Market surveys show Wall Street expected less hawkish Fed outlook
▼ + stars: | 2023-07-06 | by ( Michael S. Derby | ) www.reuters.com time to read: +3 min

The primary dealer survey was released on Thursday by the New York Fed and was joined by the survey of market participants, most of whom are large money managers. Respondents to that poll were also caught off guard by the Fed outlook and had projected the same Fed stopping point as the primary dealers. The dealer and market surveys also offered projections about the size of the Fed’s reverse repo facility. Mainly used by money funds, this tool finally saw inflows fall below $2 trillion per day last month, and they are widely expected to fall further as private market rates become more attractive and the Treasury ramps up issuance. Primary dealers reckon the daily reverse repo inflow will hit $1.119 trillion by the fourth quarter of 2024.

Persons: Lorie Logan, Logan, Michael S, Andrea Ricci Organizations: YORK, Reserve, Fed, Federal, New York Fed, Reuters Graphics Dealers, Dallas Fed, Columbia University, Treasury, Thomson

The pan-European STOXX 600 index (.STOXX) deepened losses by the close to fall 2.3% to its lowest level since late March, while the EURO STOXX 50 index (.STOXX50E) plunged 2.9%. Germany's two-year bond yield , which is highly sensitive to interest-rate expectations, rose its highest since autumn 2008, also pressuring equities. Technology stocks (.SX8P) fell 3.0%, while the real estate sector (.SX86P), which are often treated as bond proxies, tumbled 4.2%. German industrial orders rose significantly more than expected in May, due to large scale orders of ships, spacecraft and military vehicles. Embracer (EMBRACb.ST), the top loser on the STOXX 600, fell 13.8% after the gaming group raised 2 billion crowns ($182 million) in a share issue directed to institutional investors.

Persons: Chris Beauchamp, Janet Yellen's, Matteo Allievi, Shubham Batra, Shreyashi Sanyal, Sherry Jacob, Phillips, Varun, David Evans Organizations: CAC, U.S, Technology, Treasury, Thomson Locations: U.S . Federal, U.S, China, British, Gdansk, Bengaluru

☆ European shares drop as hawkish Fed, US-China tensions weigh
▼ + stars: | 2023-07-06 | by ( ) www.reuters.com time to read: +1 min

July 6 (Reuters) - European shares slumped nearly 1% on Thursday as heightened concerns about an economic slowdown and further rates hikes globally dented risk sentiment, while an escalating trade battle between China and the United States also weighed. The pan-European STOXX 600 index (.STOXX) dropped 0.8% by 0717 GMT, led by losses in the construction and materials index (.SXOP), which fell more than 1%. German industrial orders rose significantly more than expected in May, due to large scale orders of ships, spacecraft and military vehicles. Embracer (EMBRACb.ST), the top loser in the index, fell 0.8% after the gaming group raised 2 billion crowns ($182 million) in a share issue directed to institutional investors. Reporting by Matteo Allievi in Gdansk and Shubham Batra in Bengaluru; Editing by Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

Persons: Janet Yellen's, Matteo Allievi, Shubham Batra, Sherry Jacob, Phillips Organizations: Treasury, Thomson Locations: China, United States, U.S, Gdansk, Bengaluru

☆ Stocks slide, US yields climb amid hawkish Fed, China tensions
▼ + stars: | 2023-07-06 | by ( Kevin Buckland | ) www.reuters.com time to read: +4 min

U.S. 10-year Treasury yields climbed to a fresh four-month high in Tokyo trading, and the dollar extended its rise against major peers. MSCI's broadest index of Asia-Pacific shares (.MIAP00000PUS) dropped 0.7%, after a 0.4% slide for the world index (.MIWO00000PUS) on Wednesday. U.S. E-mini stock futures pointed to a 0.1% lower restart for the S&P 500 (.SPX), following its overnight 0.2% decline. Ten-year Treasury yields climbed as high as 3.957% in Tokyo trading, after surging some 9 basis points overnight. Against the yen, though, the dollar's advances were conspicuously subdued, considering the currency pair's traditional close relationship with long-term U.S. yields.

Persons: HSI, Janet Yellen, Matt Simpson, Matsuzawa, Kevin Buckland Organizations: U.S . Federal Reserve, Nikkei, Treasury, U.S, Nomura Securities, Bank of Japan's, Brent, . West Texas, Thomson Locations: TOKYO, Asia, Pacific, China, United States, Tokyo, Taiwan, ., U.S, Beijing, Saudi Arabia, Russia

☆ The oil market faces the risk of a major shock as high interest rates cause traders to dump inventories
▼ + stars: | 2023-07-05 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Oil inventories are falling as high interest rates make the price of storage costly, top analyst Amrita Sen wrote. That could expose the oil market to a major shock, she warned in the Financial Times. "All this will leave the market vulnerable to shocks and unexpected Opec+ policy moves by the end of the year. Higher rates have forced traders to pay more in financing to hold onto oil-storage consignments. "All this will leave the market vulnerable to shocks and unexpected Opec+ policy moves by the end of the year," she said.

Persons: Amrita Sen, Buckle, —, Sen, today's backwardation, destocking Organizations: Financial Times, Service, Federal Reserve, Strategic Petroleum Reserve Locations: Asia

☆ 5 US cities seeing the biggest home price gains and the 5 suffering the steepest declines as some pockets of the market become red-hot again, according to Redfin data
▼ + stars: | 2023-07-02 | by ( William Edwards | ) www.businessinsider.com time to read: +2 min

US home prices are now down only 0.9% from this time last year, Redfin reports. The housing market continues its momentum, with home prices up every month since February. After falling 5% between June 2022 and January 2023, home price are now down just 0.9% year-over-year, according to Redfin data published Thursday. "Home-price declines are shrinking," said Dana Anderson, a data journalist at Redfin, in the report. Below, we've listed the five cities that have seen the biggest year-over-year price growth, as well as the five cities that have seen the steepest declines, according to Redfin.

Persons: Dana Anderson Organizations: Cincinnati, NSA Locations: Providence , Milwaukee, Miami, Fort Lauderdale, Redfin, U.S

[1/5] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., June 29, 2023. REUTERS/Brendan McDermidJune 29 (Reuters) - The Dow and the S&P 500 rose on Thursday as bank shares rallied after major lenders cleared the Federal Reserve's annual stress test, while strong economic data stoked expectations of further interest rate hikes from the central bank. Stronger than expected economic data pushed Treasury yields higher and steered investors toward economically sensitive sectors as recession fears eased. Buyers shied away from rate-sensitive growth sectors due to concerns that the Fed would keep interest rates higher for longer. After a health check showed that the biggest U.S. banks have enough capital to weather a severe economic slump the S&P 500 banks index (.SPXBK) gained.

Persons: Brendan McDermid, Buyers, Mona Mahajan, Louis, Edward Jones, Jerome Powell, underpeformed, Sinéad Carew, Sruthi Shankar, Johann M, Shinjini Ganguli, David Gregorio Our Organizations: New York Stock Exchange, REUTERS, Dow, St, Nasdaq, Dow Jones, Traders, Reuters, Microsoft, Micron Technology, Occidental Petroleum, Berkshire Hathaway Inc, Nike, Thomson Locations: New York City, U.S, megacaps, Philadelphia, New York, Bengaluru

The yield curve's inversions deepened in June after Fed Chair Jerome Powell indicated that the central bank would likely raise rates two more times this year. Stronger-than-expected economic data on Thursday backed expectations that the Fed will keep interest rates higher for longer. Treasury yields- which move inversely to prices - moved up, with 10-year and two-year yields hitting their highest since March 10 and 9, respectively, while some curve inversions intensified. The spread between one- and 30-year Treasury yields was as wide as 153 basis points on Wednesday, its biggest gap since 1981. Key areas of the U.S. economy, including housing and labor, have proven resilient despite higher rates.

Persons: Jerome Powell, Powell, Janet Rilling, Huw Roberts, Davide Barbuscia, Chuck Mikolajczak, Ira Iosebashvili, Sam Holmes, Aurora Ellis, Nick Zieminski Organizations: YORK, U.S, Treasury, Federal, Allspring Global Investments, Quant, Thomson Locations: U.S

Bank of New York Mellon (BK.N) and Charles Schwab (SCHW.N) rose 1.1% and 2.0%, respectively. The S&P 500 banks index (.SPXBK) gained 2.5%, while the KBW Regional Banking index (.KRX) climbed 1.8%. Six of the 11 major S&P 500 sectors rose, as gains in financials (.SPSY) and energy (.SPNY) helped offset losses in utilities (.SPLRCU) and consumer staples (.SPLRCS). The S&P index recorded 11 new 52-week highs and two new lows, while the Nasdaq recorded 30 new highs and 29 new lows. Reporting by Sruthi Shankar and Johann M Cherian in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

Persons: JPMorgan Chase, Goldman Sachs, Wells, Charles Schwab, Thomas Hayes, Jerome Powell, Powell's, Sruthi Shankar, Johann M, Shinjini Organizations: Dow, Nasdaq, Bank of America, JPMorgan, Bank of New York Mellon, Great, Reuters, Dow Jones, Micron Technology, Occidental Petroleum, Berkshire Hathaway Inc, NYSE, Thomson Locations: KBW, Great Hill, financials, Bengaluru

☆ Gold hovers near mid-March low on dollar strength, hawkish Fed
▼ + stars: | 2023-06-29 | by ( ) www.cnbc.com time to read: +1 min

Gold prices lingered near a Mid-March low on Thursday, dragged down by a stronger dollar and hawkish comments from U.S. Federal Reserve Chair Jerome Powell. Spot gold fell 0.1% to $1,906.17 per ounce, near a mid-March low hit on Wednesday. Powell's hawkish remarks reinforced interest rates going higher for longer, with a higher opportunity cost of holding gold dimming the appeal of gold, said OCBC FX strategist Christopher Wong. Powell suggested another two rate hikes to the Fed funds target rate were likely, and he did not see inflation abating to the 2% target until 2025. Asian shares were subdued on the premise of higher interest rates, while the Japanese yen and the Chinese yuan struggled to lift from lows amid fears of official intervention.

Persons: Jerome Powell, Christopher Wong, Powell Organizations: Aurum, U.S . Federal, Reuters Locations: Munich, U.S, .

Her comments followed a hawkish stance by Fed Chair Jerome Powell in his two-day testimony before the Senate Banking Committee earlier this week. Markets calmed briefly and the S&P 500 (.SPX) and the Nasdaq (.IXIC) added some gains in the previous session after Powell said the Fed will proceed with caution. We've heard from the various Fed governors, Powell talk about higher interest rates," said Paul Nolte, senior wealth advisor and market strategist at Murphy & Sylvest. Yields on the 2-year, which best reflects interest rate expectations, dropped to hover at 4.71% on Friday. Investors will also monitor comments from some Fed policymakers due to speak later in the day.

Persons: Mary Daly, Jerome Powell, Powell, We're, We've, Paul Nolte, advancers, Shubham Batra, Shristi, Arun Koyyur Organizations: Starbucks, Dow, Nasdaq, Federal Reserve, San Francisco Fed Bank, Reuters, Committee, Murphy, Apple, Microsoft, Dow Jones, 3M, Carmax Inc, Starbucks Corp, NYSE, Thomson Locations: San, U.S, Bengaluru

June 23 (Reuters) - Oil prices fell for a second straight session and were headed for a weekly decline of more than 3% on Friday, as a higher-than-expected interest rate hike in Britain and warnings about looming rate rises in the U.S. ignited concerns over demand. An increase in the value of the dollar, which has risen 0.3% this week, can weigh on oil demand by making the fuel more expensive for holders of other currencies. Federal Reserve Chair Jerome Powell said the central bank would move interest rates at a "careful pace" from here as policymakers edge towards ending their historic round of monetary policy tightening. Higher interest rates increase borrowing costs for businesses and consumers, which could slow economic growth and reduce oil demand. Fears of hikes by major central banks have clouded the fuel demand outlook for the rest of the year.

Persons: Brent, Tina Teng, Jerome Powell, Edward Moya, Arathy Somasekhar, Sonali Paul, Jamie Freed Organizations: U.S, West Texas, CMC, Bank of England, Energy Information Administration, Energy, OANDA, Thomson Locations: Britain, U.S

June 21 (Reuters) - Oil prices rebounded early on Wednesday, recovering after two straight sessions of losses, as expectations of hawkish Fed talk later in the afternoon and possible U.S. crude stock draws in outweighed China demand worries. Concerns about demand recovery in China, the world's top oil importer, limited price gains as its economy struggles. "The only reason why I think prices are not climbing (steadily) yet is because the data from China is still unclear. "As for the Fed (meeting), that is also uncertain but with latest inflation data coming in a 4%, they have room to be dovish," Galimberti added. Looking to boost growth, China on Tuesday cut its benchmark loan prime rates (LPR) for the first time in 10 months, with a smaller-than-expected 10-basis-point reduction in the five-year LPR.

Persons: Brent, Powell, Jerome Powell, Claudio Galimberti, Galimberti, Katya Golubkova, Trixie Yap, Sonali Paul, Kim Coghill Organizations: Fed, . West Texas, ANZ Research, Market Committee, U.S . Federal, Federal Reserve, Reuters, American Petroleum Institute, Energy, Administration, Thomson Locations: China, Washington, U.S, Tokyo, Singapore

Fed Governor Christopher Waller warned on Friday "core inflation is not coming down like I thought it would." Richmond Fed President Thomas Barkin said he was "comfortable" with further rate increases given that inflation was still not on the path back to 2%. Markets now await comments from more Fed officials including Fed Vice Chair Michael Barr later in the day, and Fed Chair Jerome Powell's semiannual monetary policy testimony to the U.S. House Financial Affairs Committee on Wednesday. Adding to the dour mood, China cut its benchmark lending rates by a smaller-than-expected 10 basis points. U.S.-listed shares of Chinese companies including Alibaba Group , JD.com and PDD Holdings (PDD.O) fell between 1% and 6% in premarket trading.

Persons: Eli Lilly, Christopher Waller, Thomas Barkin, CMEGroup's, Waller, Barkin, Michael Barr, Jerome Powell's, Powell, Hogan, Daniel Zhang, Shristi Achar, Shubham Batra, Johann M, Vinay Dwivedi Organizations: Therapeutics, Dow, Nasdaq, Federal Reserve, Richmond Fed, Traders, Microsoft, U.S . House Financial, Housing, Capitol, Riley, Fed, Alibaba, PDD Holdings, Dow e, Adobe Inc, Ford, General Motors, Tesla Inc, Dice Therapeutics, Thomson Locations: China, U.S, Bengaluru

☆ Bull market or fool's market? Investors say the latter
▼ + stars: | 2023-06-18 | by ( Krystal Hur | ) edition.cnn.com time to read: +10 min

Mega-cap tech stocks that were battered by rising interest rates in 2022 have also seen a huge boost this year. The Federal Reserve on Wednesday held interest rates steady but indicated that it could hike rates twice more this year. Tech stocks’ record runApple shares closed at a record high on Thursday, creeping closer to reaching a $3 trillion market capitalization. The rally’s next testDespite some bullish signs in the market, investors say the math isn’t adding up to a sustained rally — especially considering a possible recession looms on the horizon. The central bank last Wednesday paused interest rates and indicated that it could raise rates two more times this year.

Persons: Dow, ”, Amanda Agati, Wednesday’s, Stocks, Joe Biden, Dan Ives, “, ” Ives, Richard Steinberg, Jerome Powell, Agati, Sylvia Jablonski, Christopher Waller, Thomas Barkin, ” Waller, Sarah Henry, Henry, Here’s, Price, Refinitiv, Paul Eitelman, ” Eitelman Organizations: CNN Business, Bell, New York CNN, Apple, Nasdaq, PNC Financial Services, Management, “, Federal Reserve, Nvidia, Wedbush Securities, Microsoft, The Colony, Treasury, ”, Federal, Richmond Fed, Logan Capital Management, CPI, PPI, University of, Consumers, North America, Russell Investments, Wednesday, National Association of Realtors, Senate Locations: New York, what’s, Oslo

Equities trading was choppy on Wednesday after the Fed signaled it could follow its June pause with two more rate increases this year. But by Thursday afternoon the S&P 500 .SPX and the Nasdaq had rallied to 14-month highs on upbeat economic data. Higher jobless claims helped fuel bets that the Fed would not follow through with more rate hikes. "It's almost like a sweet spot," Tunkel said, also pointing to Chinese data boosting energy stocks and oil prices. Gold prices rose from a three-month low as the dollar and bond yields fell after U.S. economic data, although worries over more Fed rate hikes capped gains.

Persons: Irene Tunkel, Tunkel, Brendan McDermid, Sterling, Brent, Sinéad Carew, Marc Jones, Tom Westbrook, Mark Potter, Alexander Smith, Richard Chang Organizations: LONDON, European Central Bank, Federal Reserve, Nasdaq, BCA Research, Dow Jones, New York Stock Exchange, REUTERS, Treasury, Reuters, Thomson Locations: U.S, New York City, China, New York, London, Singapore

☆ Morning Bid: ECB day to follow a hawkish Fed
▼ + stars: | 2023-06-15 | by ( ) www.reuters.com time to read: +2 min

A day after the Federal Reserve took markets by surprise with a hawkish message, it's the European Central Bank's turn in the hot seat. While the Fed was widely expected to, and did, keep rates unchanged, the U.S. central bank left the door open to more increases ahead. And so to the ECB, which is all but certain to raise borrowing costs to their highest level in 22 years on Thursday. Even after the more hawkish message from the Fed on Wednesday, market pricing for the rate trajectory has not changed too much. Money markets price in roughly one more 25 basis point rate increase from the Fed, while the ECB may struggle to sound hawkish while inflation in the bloc is coming down.

Persons: BNY Mellon, It's, Dhara Ranasinghe, Jane Merriman Organizations: Federal Reserve, BNY, ECB, Fed, ING, Thomson, Reuters Locations: U.S, Dhara, United States, Europe

☆ Still-hawkish Fed pauses rate tightening after 10 straight hikes
▼ + stars: | 2023-06-14 | by ( ) www.reuters.com time to read: +13 min

While the market expected a hawkish pause, this is even a little bit more hawkish than market participants anticipated and that’s why you’re having a negative reaction in risk assets. So, it does suggest that the Fed is looking to tighten policy further, but the big question is can the Fed credibly commit to two more rate hikes if they just decided to actually hold rates steady. And what is the threshold for further rate hikes? “GEORGE YOUNG, PORTFOLIO MANAGER, VILLERE & CO, NEW ORLEANS"This a pregnant pause, meaning that they said they're going to pause hikes today but they're going to increase later. ANGELO KOURKAFAS, SENIOR INVESTMENT STRATEGIST, EDWARD JONES, ST LOUIS"We're seeing a more hawkish pause.

Persons: QUINCY KROSBY, Powell, He’s, BRIAN JACOBSEN, MENOMONEE, ” ANDRZEJ SKIBA, ” GENNADIY GOLDBERG, they’ve, ” ELLEN HAZEN, Logan, Waller, “ GEORGE, ANGELO KOURKAFAS, EDWARD JONES, They've, MICHAEL BROWN, hawkishly, WHITNEY WATSON, GOLDMAN, “, STOVALL, ” PAUL NOLTE, MICHAEL JAMES Organizations: YORK, Federal Reserve, Federal, U.S, RBC, CPI, PPI, Powell &, Cleveland Fed, Global Finance, Markets, Thomson Locations: U.S, CHARLOTTE, NC, WISCONSIN, WELLESLEY , MASSACHUSETTS, ORLEANS, GOLDMAN SACHS, Manheim, ALLENTOWN, CHICAGO

☆ Goldman says buying these catch-up candidates is the best way to play its brighter market outlook
▼ + stars: | 2023-06-12 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Goldman Sachs lifted its year-end target on the S & P 500 and sees market laggards playing catch up with this year's leaders. The Wall Street firm boosted its 2023 forecast for the S & P 500 to 4,500, which represents about 5% upside from current levels and is a 12.5% increase from Goldman's previous target of 4,000. Signs of such a shift have recently emerged as cyclical stocks have outperformed their defensive counterparts lately, but plenty of cyclicals have missed out, Goldman said. To find opportunities among the laggards, Goldman screened the Russell 3000 Index, looking for cyclical stocks with market caps greater than $2 billion. It found a list of names with valuations below the S & P 500 and improving fundamentals, demonstrated by improved 2024 earnings revisions.

Persons: Goldman Sachs, Goldman, David Kostin Organizations: Fed, Equity Investment, CNO Financial, Everest Re, RenaissanceRe Holdings Locations: Cleveland

☆ Gold climbs on softer dollar as traders weigh Fed verdict
▼ + stars: | 2023-06-08 | by ( ) www.cnbc.com time to read: +2 min

Bars of gold are seen at the Krastsvetmet company, one of the world's largest producers of precious metals in Moscow, Russia on January 31, 2023. Gold prices edged higher on Thursday, supported by a softer dollar, although bullion hovered near the previous session's lows as investors awaited cues from the U.S. Federal Reserve. Spot gold was up 0.3% to $1,946.09 per ounce by 0441 GMT, after shedding 1% in the previous session. The dollar index eased slightly making gold less expensive for investors holding other currencies. Gold still remains a viable macro portfolio tail hedge, despite a hawkish Fed regime, Citi said in a note.

Persons: Ajay Kedia, Clifford Bennett Organizations: U.S . Federal, Kedia Commodities, Reuters, Bank of Canada, Wednesday, ACY Securities, Citi Locations: Moscow, Russia, U.S, Mumbai

☆ The job market held up in May. But the Fed may have already decided to pause
▼ + stars: | 2023-06-02 | by ( Bryan Mena | ) edition.cnn.com time to read: +8 min

Washington, DC CNN —The US labor market picked up momentum in May, once again defying expectations of a slowdown. Many economists, including those at the Fed, still expect a recession later in the year. The labor market and signs of future disinflationThe May jobs report mostly showed that the labor market held up. Some top economists have argued that the strong labor market has had a minor, albeit growing, impact on inflation. Hawkish Fed officials still think the Fed’s job isn’t done.

Persons: That’s, Joe Biden’s, ”, Philip Jefferson, Patrick Harker, “, ” Harker, It’s, ” Julia Pollak, ZipRecruiter’s, you’ve, you’d, Dave Gilbertson, hasn’t, Ben Bernanke, ” Jack Macdowell, Louis President James Bullard, Bullard, Louis Fed’s, Louis, Jerome Powell, there’s, Ian Shepherdson, Eugenio Alemán, Raymond James Organizations: DC CNN, Federal, Fed, Federal Reserve Bank of Philadelphia, National Association for Business Economics, CNN, Employers, of Labor Statistics, BLS, UKG, The Palisades Group, Hawkish Fed, Federal Reserve Bank of St, Louis Fed, Pantheon Locations: Washington, Washington ,

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