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☆ Stock market today: Indexes climb as producer inflation comes in cool
▼ + stars: | 2024-08-13 | by ( Max Adams | ) www.businessinsider.com time to read: +4 min

Stocks were higher on Tuesday after PPI showed wholesale inflation was less than expected in July. Investors are now bracing for the consumer inflation reading due out on Wednesday. AdvertisementUS stocks were up on Tuesday after the producer price index for July showed wholesale inflation rose less than expected. Data from the Bureau of Labor Statistics showed that producer prices increased 0.1% last month compared to estimates of 0.2%. The cooler-than-expected reading should boost optimism for consumer prices to show a decline in inflation when the consumer price index is released on Wednesday.

Persons: —, Chris Zaccarelli, Laxman Narasimhan, Brian Niccol, Elon Musk Organizations: PPI, Investors, Service, Bureau of Labor Statistics, Federal Reserve, Fed, Depot, Bank of America, Starbucks, Trump Media, Elon

☆ Whoever can finally coin an effective economic message could win the White House
▼ + stars: | 2024-08-13 | by ( Stephen Collinson | ) edition.cnn.com time to read: +10 min

CNN —Voters keep telling pollsters that their economic insecurities are the biggest issue in the 2024 election. Former President Donald Trump will try to make a case against Kamala Harris’ role in the Biden economy on Wednesday in North Carolina. President Joe Biden dedicated his domestic agenda to restoring economic fairness and sought to revive manufacturing and repair the country’s crumbling infrastructure. As the effective incumbent in this race, Harris is vulnerable to any sudden shifts in the economic outlook. But with Trump seeking an opening to define her negatively — especially on the economy — Harris must act fast.

Persons: Donald Trump, Kamala Harris, Biden, Trump, Joe Biden, Harris, Kamala, He’s, Price, “, Biden Administration’s, ”, —, ” Harris, ” Trump, hasn’t, “ You’ve, Scott Jennings, Anderson Cooper, “ You’re, Brad Todd, CNN’s Kasie, he’s, ” Todd, Kevin McCarthy, Elon Musk, Sen, JD Vance, Harris ’, Bill Clinton, Barack Obama, Clinton, Obama, Obama –, –, — Harris, Tim Walz, She’s Organizations: CNN — Voters, Trump, Home Depot, Republican, Democratic, Biden, CNN, Fox News, Air Force, Democratic National Convention, NPR, PBS, Marist, New York Times, Siena College, Minnesota Gov, pharma Locations: North Carolina, Asheville , North Carolina, Maryland, Raleigh, Ohio, Chicago, Nevada, Phoenix, California, States, Pennsylvania, Michigan, Wisconsin

☆ Wednesday's big CPI inflation report could mark a change in thinking for the Fed
▼ + stars: | 2024-08-13 | by ( Jeff Cox | ) www.cnbc.com time to read: +5 min

watch nowThe PPI report, seen as a gauge of wholesale inflation, showed prices up just 0.2% in July and about 2.2% from a year ago. Still, investors are looking for the Fed at its September meeting to start cutting interest rates, considering that inflation is weakening and so is the labor market. Another benign inflation report "makes the Fed completely comfortable that they can shift their focus away from inflation and toward labor," said Tom Porcelli, chief U.S. economist at PGIM Fixed Income. There are cracks forming in the labor market backdrop." "I'm as curious about [Wednesday's] inflation report as anyone else, but I think it would take a real outlier to change the Fed's tune from 1) shifting to labor as its focus, and 2) seriously thinking about cutting in September," Porcelli said.

Persons: Jim Baird, Plante, Baird, Dow Jones, there's, Tom Porcelli, Porcelli Organizations: Walmart, Labor Department, Federal Reserve, Financial Advisors, PPI, Fed, Traders

☆ Wholesale inflation measure rose 0.1% in July, less than expected
▼ + stars: | 2024-08-13 | by ( Jeff Cox | ) www.cnbc.com time to read: +1 min

A key measure of wholesale inflation rose less than expected in July, opening the door further for the Federal Reserve to start lowering interest rates. Excluding volatile food and energy components, core PPI was flat. A further core measure that also excludes trade services showed an increase of 0.3%. Trade services prices fell 1.3% while margins for machinery and vehicles wholesaling tumbled 4.1%. An increase of 2.3% in portfolio management offset some of the decline in services prices.

Persons: Dow Jones Organizations: Federal Reserve, Labor Department's Bureau of Labor Statistics, PPI, BLS, Trade Locations: Brooklyn, New York City

☆ Stock futures are little changed ahead of key inflation report on Wednesday: Live updates
▼ + stars: | 2024-08-13 | by ( Jesse Pound | ) www.cnbc.com time to read: +1 min

Stock futures were mostly flat on Tuesday evening as Wall Street looks to keep a strong start to the week going with a key inflation report on deck. S&P 500 futures and Nasdaq 100 futures were also down less than 0.1%. The speed of the rebound is making some Wall Street pros uneasy. The market did get a piece of good news on Tuesday when the producer price index report showed cooler inflation than expected. "I think the inflation risk is much lower than the unemployment risk," El-Erian said.

Persons: Dow, I'm, Mohamed El, Erian Organizations: Dow Jones, Nasdaq, Allianz Locations: Japan

☆ The big ‘carry trade’ unwind is far from over, strategists warn
▼ + stars: | 2024-08-13 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +5 min

watch nowEconomists have said it is difficult to accurately assess the scale of the yen carry trade, with estimates varying widely. Some analysts, using Japan's foreign portfolio investments, say the yen carry trade could total as much as $4 trillion, Reuters reported. "The real Japan strategy is not just a quick carry trade, borrowing at close to zero interest rates in Japan and investing in high yield assets. Analysts at Barclays said systematic selling pressure does not appear to have been exhausted yet and it's "too early" to call an all-clear to the carry trades unwind. We expect volatility to remain elevated, which should continue to hurt EM carry trades," the analysts at Barclays said in a research note published Sunday.

Persons: Kazuhiro Nogi, Richard Kelly, he'd, Kelly, CNBC's, Nogi, Jesper Koll, Koll, What's Organizations: Tokyo Stock Exchange, Afp, Getty, Bank of Japan, TD Securities, Reuters, TS Lombard, Bank of, The Bank of Japan, Federal Reserve, Monex, Barclays Locations: Tokyo, Japan, MEX, Brazil, Bank of Japan, U.S

☆ Don't get too excited about this latest inflation report
▼ + stars: | 2024-08-13 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

Stocks had a strong showing Tuesday after the latest U.S. wholesale inflation report came out. In other words, just because PPI rose less than expected, it doesn't mean investors should expect a tame CPI report on Wednesday. "Financial markets seem to react too much every month to PPI," said Stanley, the bank's chief economist. " The S & P 500 closed Tuesday's session nearly 2% higher, while the Nasdaq Composite climbed 2.4%. The major averages are now well above the lows seen in Aug. 5, when the Dow and S & P 500 suffered their biggest one-day pullbacks since 2022.

Persons: Stocks, Stephen Stanley, Stanley, Dow, David Russell, We're Organizations: ISI, PPI, Santander U.S, CPI, Federal Reserve, Nasdaq, Dow Jones Industrial

☆ What needs to happen to keep the market comeback going — plus, our new Starbucks price target
▼ + stars: | 2024-08-13 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

New PT for Starbucks: The standout in the market Tuesday is Starbucks , which is up 22%. The announcement is also winning over Wall Street, with three firms already upgrading their rating on Starbucks' stock to a buy or buy-equivalent. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Stocks, Laxman Narasimhan, Brian Niccol, Baird, Piper Sandler, " Cowen, Brinker, Jim Cramer's, Jim Organizations: CNBC, New, Starbucks, Wall, Bar, Brinker International, Cardinal Health, Jim Cramer's Charitable

☆ Oil prices ease as markets refocus on demand worries
▼ + stars: | 2024-08-13 | by ( ) www.cnbc.com time to read: +2 min

Oil prices edged lower on Tuesday, breaking a five-day streak of gains, as markets refocused on concerns about demand after OPEC on Monday cut its forecast for demand growth in 2024 due to softer expectations in China. Oil prices edged lower on Tuesday, breaking a five-day streak of gains, as markets refocused on concerns about demand after OPEC on Monday cut its forecast for demand growth in 2024 due to softer expectations in China. Global benchmark Brent crude futures dipped 41 cents, or 0.5%, lower to $81.89 a barrel at 0005 GMT. U.S. West Texas Intermediate crude futures fell to $79.63 a barrel, down 43 cents, or 0.5%. Brent had gained more than 3% on Monday, while U.S. crude futures had risen more than 4%.

Persons: Brent, John Kirby, CME's Organizations: Brent, . West Texas, of, Petroleum, White House, Wednesday's, U.S Locations: China, Iran, United States

☆ JPMorgan's guide to trading two huge economic reports this week
▼ + stars: | 2024-08-13 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

On Thursday, traders get the latest reading on the state of the consumer with retail sales data for July. Hot CPI and inline retail sales (up 0.1% to 0.5%) — JPM believes that a hot CPI print and retail sales matching expectations could fuel "stagflation risks." Expect the S & P 500 to gain and Nasdaq and Russell to perform similarly. Inline CPI and cool retail sales — How much equities move in this outcome depends on the magnitude of the downside surprise in retail sales. In this scenario, traders expect a broadening in the market that includes the S & P 500 gaining.

Persons: Dow Jones, Jerome Powell, Jackson, — JPM, Russell, JPM Organizations: Federal, JPMorgan, CPI, Wall, Federal Reserve, Bank of, Nasdaq, Russell

☆ Jim Cramer: What Starbucks shareholders should do after 20% stock pop on CEO change
▼ + stars: | 2024-08-13 | by ( Paulina Likos | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. There were many Wall Street upgrades of Starbucks stock following the change. Jim Cramer said he's happy about the switch and remains committed to Starbucks shares. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER .

Persons: Jim Cramer, Morgan, Laxman Narasimhan, He's, Brian Niccol, he's, Jim, Mizuho, Morgan Stanley, Palo, Jim Cramer's Organizations: CNBC, Federal Reserve, Nasdaq, Tuesday's PPI, Nvidia, Starbucks, Palo Alto Networks Locations: Palo Alto

☆ Treasury yields hold steady as investors await inflation data
▼ + stars: | 2024-08-13 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

ET, the yield on the 10-year Treasury was up by less than one basis point to 3.9150%. The 2-year Treasury yield was last less than one basis point higher to 4.0188%. Treasury yields were little changed on Tuesday as investors looked to the release of key inflation data amid uncertainty about the state of the U.S. economy. The data could also provide hints about whether the Federal Reserve is likely to cut interest rates when it meets in September. Following recent market turmoil and economic uncertainty, questions have also emerged about whether the Fed should have already started cutting rates to avoid a hard landing.

Persons: Dow Organizations: Treasury, PPI, Dow Jones, Federal Reserve Locations: U.S

☆ 3 data points that could impact how big of a Fed rate cut the market gets next month
▼ + stars: | 2024-08-13 | by ( Zev Fima | ) www.cnbc.com time to read: +6 min

Management blamed "higher interest rates and greater macroeconomic uncertainty" for pressuring consumer spending on home improvement projects. The recent data certainly supports the idea of a rate cut at the Fed's mid-September meeting. However, that's weeks away, we know things can turn on a dime in the data and the stock market. Lower rates can certainly impact the stock market — but when it comes to picking individual stocks, we remain focused on earnings. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Thursday's, Stanley Black, Decker, Stifel, bode, Russell, Jim Cramer's, Jim Cramer, Jim, Spencer Platt Organizations: Nasdaq, PPI, Management, Dow, Home Depot, Trade, Costco, Depot, CNBC, New York Stock Exchange, Getty Locations: U.S, New York City

☆ Stock market today: Indexes close mixed before fresh inflation data
▼ + stars: | 2024-08-12 | by ( Max Adams | ) www.businessinsider.com time to read: +2 min

New inflation data will arrive on Tuesday with the producer price index report for July. AdvertisementUS stocks wavered on Monday, struggling to keep the rally that materialized at the end of last week going ahead of new inflation data for July. On Tuesday, investors will digest the first of two inflation data points due out this week. The producer price index, a measure of wholesale inflation, is expected to be in-line with the June data at 0.2%. The second update will be the main event, with the consumer price index set to show the rise in inflation faced by the average consumer last month.

Persons: —, Louis Nevallier Organizations: Traders, Service, Fed, Pentagon Locations: Here's, Iran, Israel, Tehran

☆ Gold subdued as investors focus on U.S. inflation data
▼ + stars: | 2024-08-12 | by ( ) www.cnbc.com time to read: +1 min

Gold prices struggled for momentum on Monday as investors looked forward to a key inflation report that could shed more light on the U.S. central bank's next policy move. Spot gold eased 0.13% to $2,427.86 per ounce by 0352 GMT, trading in a narrow $10 price range. The U.S. consumer price index data, due on Wednesday, is expected to show that headline and core prices rose 0.2% month-on-month. "Further inflation progress reflected in the upcoming CPI data could see gold eye for a retest of its all-time high once more," said IG market strategist Yeap Jun Rong. Among other metals, spot silver fell 0.3% to $27.36 per ounce, platinum shed 0.47% to $917.83 and palladium fell 0.2% to $903.48.

Persons: Ilya Spivak, Yeap Jun Rong, Michelle Bowman Organizations: Metals, U.S, Federal, Hamas Locations: Krasnoyarsk, Russia, bank's, U.S, Gaza

☆ Nvidia swings again — plus, an industrial name tied to the data center boom gets an heir-apparent
▼ + stars: | 2024-08-12 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street.

Persons: Jim Cramer, It's, Blackwell, Nvidia's, Eaton, Paulo Ruiz, Ruiz, Craig Arnold, Arnold, We're, Stanley Black, Decker, Jim Cramer's, Jim Organizations: CNBC, Treasury, Nvidia, UBS, Club, Fed, PPI, Jim Cramer's Charitable Locations: York

☆ A 'tail hedge' trade that profits if this week's CPI is very hot and another one for a benign reading
▼ + stars: | 2024-08-12 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

On Monday, stocks struggled ahead of this week's inflation data, which will likely set the tone for short term market action. The S & P 500 was little changed, the Nasdaq Composite made a small advance while the Dow Jones Industrial Average pulled back about a third of a percent. The first trade is a so-called tail hedge against a hotter-than-expected CPI print, i.e. buying S & P 500 put options. The value of the put contracts will increase if the S & P 500 falls on a surprising resurgence of inflation.

Persons: Dow Jones Organizations: JPMorgan, Nasdaq, Dow Jones, Investors, Federal Reserve

Here’s the latest:S&P 500 futures were up slightly after fears of a slowdown in growth and hiring rocked the benchmark index last week. Investors endured both a stomach-churning rout on Monday and a bounce-back rally on Thursday. Despite that, the S&P 500 ended the week down just 0.04 percent. The big event this week is Wednesday’s inflation data. Investors are anxious after tepid jobs and manufacturing data suggested a slowdown was on the horizon.

Persons: Michelle Bowman, ” Brian Moynihan, Wall Organizations: Investors, Nvidia, Fed, Bank of America, CBS Locations: Europe, Asia

Mortgage rates are down today compared to where they've been in recent weeks, with 30-year mortgage rates hovering in the low 6% range, according to Zillow data. 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. 15-Year Fixed Mortgage RatesLast week, average 15-year mortgage rates were 5.63%, a 36-basis-point decrease from the previous week, according to Freddie Mac data. Mortgage rates have been elevated for most of 2024, but they've been trending down in recent months. Once the Fed cuts rates, mortgage rates should fall even further.

Persons: they've, you'll, Freddie Mac, it's Organizations: July's, CPI, Federal Reserve, Zillow Locations: Chevron

☆ Falling commodity prices are indicating there is trouble brewing with the economy
▼ + stars: | 2024-08-12 | by ( Spencer Kimball | ) www.cnbc.com time to read: +4 min

Commodity prices have tumbled over the past month, signaling underlying weakness in the global economy despite the U.S. stock market bouncing back from recession fears. But commodity markets may be telling a different story about the global economy. The Invesco DB Base Metals Fund is down more than 7% over the past month, while crude oil futures dropped 14% from July 5 through Aug. 5. @HG.1 YTD mountain Copper futures, YTD Weakness in China, the world's second-largest economy, is weighing on copper and oil in particular, Melek said. OPEC on Monday lowered its global oil demand growth forecast this year by 135,000 barrels per day as expectations in China have softened.

Persons: Rob Ginsberg, Ginsberg, Bart Melek, DBB @HG, We've, Melek, I'm Organizations: U.S, Investors, Invesco DB Base Metals, Wolfe Research, TD Securities, DBB, Metals, Copper, CNBC, Global, Beijing, European Union, World Trade Organization, Federal Reserve, Securities Locations: U.S, China, Beijing, Jackson Hole , Wyoming

☆ Deutsche Bank says Eli Lilly stock is a buy — in line with our rating on shares
▼ + stars: | 2024-08-12 | by ( Morgan Chittum | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. Deutsche Bank upgraded Eli Lilly to a buy from hold rating on Monday after a blowout quarterly earnings report last week. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Eli Lilly, We've, Jim Cramer's, Jim Organizations: CNBC, Nasdaq, Dow Jones, Federal, The Club, Management, Amazon Web Services, Deutsche Bank, Novo Nordisk

☆ Stock market today: Indexes slide to start heavy week of new economic data
▼ + stars: | 2024-08-12 | by ( Max Adams | ) www.businessinsider.com time to read: +2 min

US stocks were lower on Monday as investors looked to new economic data due out in the week. This week, markets will get updates on consumer and producer inflation and retail sales for July. The stock market ended last week nearly flat after the biggest sell-off in over two years. On Tuesday, data on wholesale inflation will be released, though the main event for the week will be consumer inflation data on Wednesday with the consumer price index report for July. On an annual basis, inflation is expected to show prices rose 3% last month, in-line with June figures.

Persons: — Organizations: Service, Bank of America Locations: June's

☆ Three-year inflation outlook hits record low in New York Fed consumer survey
▼ + stars: | 2024-08-12 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

The latest views from the monthly Survey of Consumer Expectations indicate that respondents see inflation staying elevated over the next year but then receding in the next couple of years after that. In fact, the three-year portion of the survey showed consumers expecting inflation at just 2.3%, down 0.6 percentage point from June and the lowest in the history of the survey, going back to June 2013. That's still a full percentage point away from the Fed's 2% goal but about one-third of where it was two years ago. While the medium-term outlook improved, inflation expectations on the one- and five-year horizons stood unchanged at 3% and 2.8% respectively. Respondents expect the price of gas to increase by 3.5% over the next year, 0.8 percentage point less than in June, and food to see a rise of 4.7%, which is 0.1 percentage point lower than a month ago.

Persons: Dow Jones Organizations: New York Federal, Federal Reserve, Labor Department, Fed Locations: New

☆ The bottom is not in so take profits on any bounce, says BTIG
▼ + stars: | 2024-08-12 | by ( Fred Imbert | ) www.cnbc.com time to read: +3 min

BTIG's chief market technician warned Sunday that, while the pullback seen early last week generated some "tactical buy signals," he thinks the "bulk of the bounce has likely run its course and [we] would use strength … to lighten exposure." However, the broad market index clawed back most of that decline by Friday, posting a weekly loss of just 0.04%. .SPX 1M mountain SPX 1-month chart "A final durable low is likely still ahead of us," Krinksy said. The big event this week will be the release of the consumer price index reading for July, due Wednesday. "We see LLY stock outperforming for its high growth outlook and low beta," the Deutsche analyst added, while calling the drugmaker a "low beta/high growth unicorn."

Persons: Jonathan Krinsky doesn't, Krinsky, Krinksy, Eric Johnston, Cantor Fitzgerald, Lori Calvasina, Scott Rubner, Goldman Sachs, Eli Lilly Organizations: JPMorgan, RBC Capital Markets, Deutsche Bank, Deutsche

☆ Trump, Vance double down on call for presidential influence on Fed policy
▼ + stars: | 2024-08-12 | by ( Jessica Dickler | ) www.cnbc.com time to read: +6 min

Joe Raedle | Getty ImagesThe president has no direct control over interest ratesAs it stands, the president exerts no direct control over interest rates. The Federal Reserve sets interest rates, and it operates independently of the White House. Last month, Trump said that if elected he would "bring interest rates way down." Now, however, Trump has cautioned against the Fed lowering rates shortly before the presidential election in November. "I think he's going to do something to probably help the Democrats, I think, if he lowers interest rates."

Persons: Donald Trump, Joe Raedle, Brett House, Trump, Fed Trump, Jerome Powell, Trump's, reappoint Powell, Powell, Greg McBride, Wells Fargo Organizations: Federal Reserve, White, Fed, Columbia Business School, Reserve Act, Republican, National Association of Black Journalists, Markets, U.S, Bloomberg Businessweek, Fox Business, Barclays Locations: Lago, Palm Beach , Florida, Chicago

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