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☆ Dollar drifts, risk-sensitive currencies lifted by China optimism
▼ + stars: | 2024-09-27 | by ( ) www.cnbc.com time to read: +4 min

The dollar wobbled on Friday, poised for a fourth straight week of declines as investors weighed U.S. data to gauge the pace of interest rate cuts, while China's spree of stimulus measures kept risk-sensitive currencies aloft. The dollar wobbled on Friday, poised for a fourth straight week of declines as investors weighed U.S. data to gauge the pace of interest rate cuts, while China's spree of stimulus measures kept risk-sensitive currencies aloft. "This suggests a more cautious approach to interest rate cuts, prioritizing a balance between the Fed's employment mandate and keeping an eye on inflation risks." The risk-sensitive Australian and New Zealand dollars also held near multi-year highs due to China stimulus plans. AUD/On Thursday, China's leaders pledged to support the struggling economy through "forceful" interest rate cuts and adjustments to fiscal and monetary policies, stoking expectations for more stimulus.

Persons: Ryan Brandham, Sterling, China's Organizations: Federal Reserve, North America, Validus Risk, New, Communist Party, ING Locations: U.S, China, New Zealand

☆ Gold, silver head for weekly gains on U.S. rate-cut momentum
▼ + stars: | 2024-09-27 | by ( ) www.cnbc.com time to read: +2 min

Gold and silver prices retreated on Friday from record highs, but were positioned for weekly gains on growing anticipation of another bumper U.S. interest rate cut this year, as markets awaited a key inflation report for additional guidance. Gold and silver prices retreated on Friday from record highs, but were positioned for weekly gains on growing anticipation of another bumper U.S. interest rate cut this year, as markets awaited a key inflation report for additional guidance. Silver prices surged due to bullion's strong performance and China's stimulus measures, though some analysts warn that the rally may fade due to concerns over industrial demand. The Federal Reserve's larger-than-usual half-percentage-point reduction last week ignited a rally in gold, which hit consecutive record highs and has gained about 1.8% so far this week. Gold prices are currently supported by anticipated U.S. Fed interest rate cuts and China's stimulus measures, both of them are weakening the dollar, said Kyle Rodda, financial market analyst at Capital.com.

Persons: Kyle Rodda Organizations: FedWatch, U.S, BMI Locations: U.S

☆ The Fed slashed interest rates last week, but Treasury yields are rising. What’s going on?
▼ + stars: | 2024-09-26 | 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: +6 min

The Treasury market, though, hasn’t been paying attention. Officials penciled in another 50 basis points in reductions by the end of the year and another 100 by the end of 2025. That sentiment is evident in the “breakeven” inflation rate, or the difference between standard Treasury and Treasury Inflation Protected Securities yields. The 5-year breakeven rate, for instance, has risen 8 basis points since the Fed meeting and is up 20 basis points since Sept. 11. Taken together, the various dynamics in the Treasury market are making it a difficult time for investors.

Persons: hasn’t, ”, Jonathan Duensing, — haven’t, “, Robert Tipp, We’re, Jerome, Powell, ” Duensing, Tom Garretson, “ They’d, There’s Organizations: Federal Reserve, Treasury, Amundi, Fed, CME, Treasury Inflation, RBC Wealth Management

☆ Dollar firm following sharp rebound as Fed speakers eyed
▼ + stars: | 2024-09-26 | by ( ) www.cnbc.com time to read: +4 min

Earlier this week, Chicago Fed President Austan Goolsbee said policymakers "can't be behind the curve" if the economy is to have a soft landing. Atlanta Fed President Raphael Bostic said the central bank needn't go on a "mad dash" to lower rates. Later Thursday, Fed Chair Jerome Powell gives pre-recorded remarks at a conference in New York, where New York Fed President John Williams also speaks. Boston Fed President Susan Collins and Fed Governors Michelle Bowman and Lisa Cook take to the podium at various other venues as well. Minutes from the Bank of Japan's July meeting, when the central bank raised short-term interest rates, showed policymakers were divided on how quickly the central bank should raise interest rates further.

Persons: Adriana Kugler, Austan Goolsbee, Raphael Bostic, I'm, it's, Kenneth Crompton, Jerome Powell, John Williams, Susan Collins, Michelle Bowman, Lisa Cook, NAB's Crompton, Sterling, bitcoin Organizations: Reserve, Fed, Chicago Fed, Atlanta Fed, National Australia Bank, New York Fed, Boston, Weekly U.S, Traders, Bank of Japan's, Swiss Locations: New York

☆ The Fed slashed interest rates last week, but Treasury yields are rising. What's going on?
▼ + stars: | 2024-09-26 | by ( Jeff Cox | ) www.cnbc.com time to read: +4 min

The Treasury market, though, hasn't been paying attention. Watching the curveThe difference between the 10- and 2-year notes has widened significantly, increasing by about 12 basis points since the Fed meeting. That sentiment is evident in the "breakeven" inflation rate, or the difference between standard Treasury and Treasury Inflation Protected Securities yields. The 5-year breakeven rate, for instance, has risen 8 basis points since the Fed meeting and is up 20 basis points since Sept. 11. watch nowFed officials aim for a 2% inflation rate, and none of the principal gauges are there yet.

Persons: Anna Moneymaker, hasn't, Jonathan Duensing, — haven't, Robert Tipp Organizations: Federal Reserve, Getty, Treasury, Amundi, Fed, CME, Treasury Inflation Locations: Washington , DC

☆ Emons: Micron's upgraded outlook boosts the tech sector.
▼ + stars: | 2024-09-26 | 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 EmailEmons: Micron's upgraded outlook boosts the tech sector. Ben Emons, Chief Investment Officer and Founder at FedWatch Advisors, discussed market trends, noting Micron's upbeat outlook boosting tech stocks and the Fed potentially accelerating actions to control unemployment.

Persons: Ben Emons Organizations: FedWatch Advisors

☆ Stock market today: Indexes rally on China stimulus, promising labor-market data
▼ + stars: | 2024-09-26 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +3 min

Indexes rallied Thursday on positive jobs data and promises of further economic stimulus in China. AdvertisementUS stocks rallied on Thursday, fueled by China stimulus measures and positive jobs data to pare losses from yesterday. The indexes rallied after leaders in China pledged to support the economy with more strong policy measures. The indexes' gains were also fueled by positive labor market data. Meanwhile, second-quarter GDP came in unrevised at a 3% annualized rate, according to data released Thursday.

Persons: —, Eric Jackson, SocGen Organizations: Service, Labor Department, Federal Reserve Locations: China, unrevised

☆ Gold lingers near record highs, Powell's speech eyed for rate cues
▼ + stars: | 2024-09-26 | by ( ) www.cnbc.com time to read: +2 min

Gold prices were steady on Thursday, hovering close to record highs, on expectations of another big U.S. rate cut this year, although gains were limited ahead of remarks by key Federal Reserve policymakers later in the day. Gold prices were steady on Thursday, hovering close to record highs, on expectations of another big U.S. rate cut this year, although gains were limited ahead of remarks by key Federal Reserve policymakers later in the day. Bullion has risen nearly 29% so far in 2024 and hit record highs several times this year, largely fueled by monetary policy easing by major global banks and geopolitical concerns. Last Wednesday, the Fed delivered a 50-basis-point rate cut, with traders seeing a 62% chance of an additional half-percentage-point reduction in November, according to the CME FedWatch Tool. Additionally, U.S. jobless claims data on Thursday and the core personal consumption expenditure index — the Fed's preferred inflation — on Friday, will be eyed for further rate cues.

Persons: Tim Waterer, Bullion, Jerome Powell, John Williams, Michael Barr, Nicholas Frappell Organizations: U.S ., KCM, Fed, New York Fed, ABC Refinery Locations: .

☆ Stock market today: Indexes trade mixed as record-setting rally wavers ahead of more data, Fedspeak
▼ + stars: | 2024-09-25 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

The rally in US stocks took a breather on Wednesday as traders looked ahead to coming economic data. Major indexes wobbled and bond yields were slightly higher. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Major stock averages pulled back slightly after notching a series of record-highs since last week's rate cut, while bond yields edged up slightly. "Traders will be curious to hear more thoughts on the rate cut and any guidance on further monetary policy easing."

Persons: —, Powell, Hogan, Riley Wealth Organizations: Service, Federal Reserve, Treasury, Fed, US Treasury Market Conference, Federal

☆ Australian, New Zealand dollars scale new highs on China boost
▼ + stars: | 2024-09-25 | by ( ) www.cnbc.com time to read: +3 min

An Australian one-hundred dollar banknote, top, and a New Zealand one-hundred dollar banknote are arranged for a photograph in Hong Kong, China, on Thursday, March 13, 2014. The Australian and New Zealand dollars scaled multi-month peaks on Wednesday while sterling hit its highest in more than two years against a weaker dollar, as China's aggressive stimulus package provided the latest shot in the arm for risk appetite. Data on Tuesday showed U.S. consumer confidence unexpectedly fell in September, amid mounting worries over the health of the labor market. Against a basket of currencies, the dollar last stood at 100.28, languishing near a more than one-year low of 100.21. The dollar index had fallen more than 0.5% in the previous session, its largest one-day percentage fall in a month.

Persons: Sterling, Carol Kong, Wells Organizations: New, Bank of, Federal Reserve, Commonwealth Bank of Australia, greenback, Markets Locations: Australian, New Zealand, Hong Kong, China, Bank of England, U.S, Wells Fargo

☆ Stock market today: Dow, S&P 500 drop as rally loses steam ahead of fresh economic data
▼ + stars: | 2024-09-25 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Markets are bracing for the latest GDP revision, jobless claims, and PCE inflation data in the coming days. Traders are still pricing in considerable rate cuts well into next year, per the CME FedWatch tool. AdvertisementUS stocks were mostly lower on Wednesday, ending a record-setting streak of gains as traders looked ahead to coming economic data. The Dow Jones Industrial Average fell nearly 300 points and the S&P 500 slipped from record highs, ending the day about 0.2% lower. Traders are still expecting steep rate cuts over the course of the next year.

Persons: —, Scott Wren, Wells Organizations: Traders, Service, Dow Jones, Nasdaq, Treasury, US, Micron Technologies, Micron Locations: Wells Fargo, East, Ukraine

☆ Gold holds ground on dovish Fed-speak, Mideast concerns
▼ + stars: | 2024-09-24 | by ( ) www.cnbc.com time to read: +1 min

Gold prices steadied on Tuesday after surging to a record high in the previous session, following broadly dovish comments from U.S. Federal Reserve officials and escalating tensions in the Middle East. Bullion hit a record high of $2,635.29 on Monday. "Gold prices continue to be well-supported amid a series of dovish Fed rhetoric overnight," said IG market strategist Yeap Jun Rong. Chicago Fed Bank President Austan Goolsbee said there are "lots of cuts" to come over the next 12 months, while Fed President Neel Kashkari noted that the actual path would depend on incoming data. "Tensions in the region will likely be kept high for longer, which could see gold prices retain its bullish bias."

Persons: Yeap Jun Rong, Austan Goolsbee, Neel Kashkari Organizations: U.S . Federal Reserve, Chicago Fed Bank, Hezbollah Locations: U.S, ., Israel, Lebanon

☆ Why a jump in economic growth could be the stock market's nightmare scenario
▼ + stars: | 2024-09-24 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

An acceleration of US economic growth is a major risk for investors, says economist Steven Blitz. Blitz warns a "no landing" scenario could lead to inflation rebound and Fed rate hikes. The fed funds rate should be around 4% due to economic resilience, Blitz advises. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementAn acceleration of economic growth in the US might be the stock market's worst-case scenario, according to GlobalData TS Lombard chief economist Steven Blitz.

Persons: Steven Blitz, —, Blitz Organizations: Service, GlobalData, Federal Reserve

☆ Stock market today: New record highs as Nvidia surge offsets weak consumer sentiment
▼ + stars: | 2024-09-24 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

A weak consumer confidence reading caused indexes to briefly drop early morning. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Investors reacted with dismay after the latest consumer sentiment reading, with confidence among US consumers logging its largest one-month drop in more than three years. The Conference Board's consumer confidence index came in at 98.7 for September, well below consensus estimates of a 104 reading. Advertisement"It's never good to see consumer confidence fall this much.

Persons: —, Jamie Cox, Jensen Huang Organizations: Nvidia, Service, Harris Financial, Federal Locations: China

☆ Stock market today: Indexes add to records as traders parse more economic data and Fed comments
▼ + stars: | 2024-09-24 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

Investors are parsing through data and Fed commentary to determine future rate cuts. On Tuesday, Fed Governor Michelle Bowman explained why she dissented against a deep cut in September. Go to newsletter preferences Thanks for signing up! Both indexes closed at all-time highs on Monday amid rising outlooks that the Federal Reserve will deliver another half-point interest rate cut in November. To better understand where monetary policy may be headed after the Fed's first rate cut in four years, investors are tuning into Fed commentary and parsing through incoming data.

Persons: Michelle Bowman, —, dovish, Michelle Bowman's, Bowman Organizations: Service, Dow Jones Industrial, Federal Reserve, Fed, Richmond, Here's Locations: Kentucky

☆ Stock market today: Dow ends at a record high as markets see rising odds of another big rate cut
▼ + stars: | 2024-09-23 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

US stocks rose Monday, with the Dow closing at a record high amid hopes for more rate cuts. Odds of a 50 basis point rate cut at the next FOMC meeting increased to 53%, up from 29% last week. AdvertisementUS stocks gained on Monday with the Dow Jones Industrial and S&P 500 closing at record highs as hopes of more Fed interest rate cuts ramped up. According to the CME FedWatch Tool, markets expect the Fed funds rate to fall to below 3% by the end of 2025, from 4.83% on Monday. That lines up with Kashkari's projection for the long-term Fed funds rate to sit at around 2.9%.

Persons: —, Austan Goolsbee, Neel Kashkari, Goolsbee, Kashkari Organizations: Dow, Service, Dow Jones Industrial, Federal, Chicago Fed, Minneapolis Fed, Fed Locations: Chicago

☆ Bitcoin jumps while Japan holiday dulls most currencies
▼ + stars: | 2024-09-23 | by ( ) www.cnbc.com time to read: +4 min

The Bank of Japan left interest rates unchanged last week and indicated it was not in a hurry to hike them again. That decision, coming just days after the Fed's 50 basis points rate cut, put a pause to the yen's sharp gains this month. With Japan closed for Autumnal Equinox Day, the main driver of trade was expectations around further Fed rate cuts and the gains those have spurred in equities, commodity currencies and other risk assets. The Fed's rate cut "appears to have calmed market fears of a U.S. recession", Goldman Sachs said in a note. Meanwhile, the majority of economists polled by Reuters anticipate two more 25 bps rate cuts at the Fed's final two meetings this year.

Persons: Bitcoin, Goldman Sachs, Christopher Waller, Fumio Kishida, Takaichi —, —, Shigeru Ishiba, Shinjiro Koizumi, Junichiro Koizumi, Takaichi, pare Organizations: Federal, Bank of Japan, Japan, U.S, U.S ., FedWatch, Treasury, Reuters, House Republicans, Liberal Democratic Party, Barclays, The Bank of Locations: United States, Japan, U.S, The Bank of England

☆ Minneapolis Fed President Kashkari sees a slower pace of rate cuts ahead
▼ + stars: | 2024-09-23 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

Minneapolis Federal Reserve President Neel Kashkari said Monday that he expects policymakers to dial down the pace of interest rate cuts after last week's half percentage point reduction. "I think after 50 basis points, we're still in a net tight position," Kashkari said in a CNBC "Squawk Box" interview. "Right now, we still have a strong, healthy labor market. In their latest economic projections, FOMC members indicated that rate is probably around 2.9%; the current fed funds rate is targeted between 4.75% and 5%. Speaking separately Monday morning, Atlanta Fed President Raphael Bostic indicated he expects the Fed to move aggressively in getting back to a neutral rate.

Persons: Neel Kashkari, we're, Kashkari, Kasharki, Raphael Bostic, Bostic Organizations: Minneapolis Federal, CNBC, Federal Reserve, Atlanta Fed, Fed Locations: Minneapolis

☆ U.S. rate cut, geopolitical woes lift gold to record high
▼ + stars: | 2024-09-23 | by ( ) www.cnbc.com time to read: +2 min

Gold prices extended gains to scale a record high on Monday, driven by the momentum generated by the Federal Reserve's interest rate cut and safe-haven demand due to geopolitical risks in the Middle East. Gold prices extended gains to scale a record high on Monday, driven by the momentum generated by the Federal Reserve's interest rate cut and safe-haven demand due to geopolitical risks in the Middle East. Spot gold rose 0.2% to $2,628.28 per ounce, as of 0349 GMT, after hitting a record high of $2,630.93 earlier in the session. The U.S. Fed began its easing cycle with a half-percentage point rate cut on Wednesday, forecasting another half-point cut by year-end and a full point next year. Fed futures traders have priced in 75 basis points in rate cuts by the end of this year, according to CME FedWatch.

Persons: Tim Waterer Organizations: KCM, U.S, Fed, FedWatch Locations: U.S, Israel, Lebanese

Because the Fed is likely to cut rates further, mortgage rates should continue to drop this year. 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. 30-Year Mortgage Rates TodayAverage 30-year mortgage rates are hovering around 5.60% today, according to Zillow data. 15-Year Mortgage Rates TodayAverage 15-year mortgage rates are right around 5%, according to Zillow data. 5-Year Mortgage Rate TrendsHere's how 30-year and 15-year mortgage rates have trended over the last five years, according to Freddie Mac data.

Persons: annonuncement, Jerome Powell, you'll, they've, Freddie Mac, it's, They'll Organizations: Zillow, Fed Locations: Chevron

☆ One number shows why the economy might not get the immediate relief many hope for
▼ + stars: | 2024-09-19 | by ( Matthew Fox | ) www.businessinsider.com time to read: +5 min

That rate is the 10-year US Treasury yield, a key lending benchmark for everything from mortgages to corporate debt. "The reaction within Treasury markets was most telling yesterday," Reinking said. AdvertisementHowever, it also means the 10-year Treasury is moving higher since the decision. The 10-year Treasury yield is a lending benchmark for everything from home loans to corporate debt. "That's positive for the economy, and in that case yields should be higher.

Persons: —, Michael Reinking, Reinking, Freddie Mac, Inki Cho, Sonu Varghese, Carson, Jerome Powell's, Varghese Organizations: Service, Federal, Treasury, Business, New York Stock Exchange, Fed

☆ Battleground stocks: Wall Street is completely divided on these controversial names
▼ + stars: | 2024-09-19 | by ( Brian Evans | ) www.cnbc.com time to read: +4 min

Forty-one percent of analysts polled by FactSet have a buy rating on Tesla stock, while 21% have a sell rating. About 43% of analysts surveyed by FactSet maintain a buy rating on IBM stock, but 21% are at a sell. He also noted that the risk-to-reward skew on IBM stock is more balanced, leaving less upside for the stock. IBM YTD mountain IBM stock. Goldman Sachs recently added IBM to its conviction list with a $220 price target, or 2% above where shares closed Wednesday.

Persons: Tesla, TSLA, Wolfe Research's Emmanuel Rosner, Rosner, Morgan Stanley, Adam Jonas, Jonas, Elon Musk, Bernstein's Toni Sacconaghi, Sacconaghi, Goldman Sachs, Jim Schneider, Campbell Soup Organizations: CNBC Pro, FactSet, U.S, automakers, IBM, Pepperidge

☆ CNBC Daily Open: Markets need time to digest the 50-point cut
▼ + stars: | 2024-09-19 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

Anna Moneymaker | Getty ImagesThis 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. By contrast, the prevailing sentiment among experts was that a 25-point cut was more likely, according to a CNBC survey. And he was likely aware that a bigger-than-usual cut might connote that the Fed's worried about the economy. "I don't see anything in the economy right now that suggests that the likelihood of a recession, sorry, of a downturn, is elevated," Powell said.

Persons: Jerome Powell, William McChesney Martin Jr, Anna Moneymaker, Jerome Powell's, Powell, –, Jeff Cox, Yun Li, Hakyung Kim, Samantha Subin Organizations: Federal, Federal Reserve, CNBC, Dow Jones, Nasdaq Locations: Washington , DC

☆ JPMorgan economist who nailed half-point call sees another big Fed rate cut in November
▼ + stars: | 2024-09-19 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

At its much-anticipated meeting Wednesday, the Fed approved a half percentage point, or 50 basis point, cut to its benchmark funds rate that ran counter to the 25 basis point move that many Wall Street economists and strategists had been expecting. The benchmark fed funds rate now stands at 4.75% to 5.00% after Wednesday's move. Futures market pricing Thursday suggested a 25 basis point move in November followed by a 50 basis point cut in December, according to the CME Group's FedWatch. A basis point equals 0.01%. "Ultimately what we found most important in what Powell said was also among the least surprising things he said: future decisions are going to depend on the data," Feroli wrote.

Persons: Michael Feroli, Feroli, Jerome Powell, Powell Organizations: Federal Reserve, JPMorgan, Fed, Street Locations: U.S

☆ CNBC Daily Open: Markets seemed taken aback by the 50-point cut
▼ + stars: | 2024-09-19 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

Anna Moneymaker | Getty Images News | Getty ImagesThis 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. By contrast, the prevailing sentiment among experts was that a 25-point cut was more likely, according to a CNBC survey. And he was likely aware that a bigger-than-usual cut might connote that the Fed's worried about the economy. "I don't see anything in the economy right now that suggests that the likelihood of a recession, sorry, of a downturn, is elevated," Powell said.

Persons: Jerome Powell, William McChesney Martin Jr, Anna Moneymaker, Jerome Powell's, Powell, Jeff Cox, Yun Li, Hakyung Kim, Samantha Subin Organizations: Federal, Federal Reserve, Getty, CNBC, Dow Jones, Nasdaq Locations: Washington , DC

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