DIRS.INFO The most relevant business & tech news

☆ Premarket stocks: The Fed can't figure out what's happening with the job market
▼ + stars: | 2023-06-01 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

New data out Wednesday showed that job openings and hiring both rose in April, while unemployment sits near 53-year lows. What’s happening: The number of available jobs in the United States rose unexpectedly in April after three months of declines. Job openings climbed to 10.1 million in April, according to data released Wednesday by the Bureau of Labor Statistics. Fed Chair Jerome Powell has said that he wants to see more slack in the labor market. “I love what I do,” Dimon told Bloomberg, adding he’s “quite happy” in his current job.

Persons: won’t, —, Jerome Powell, Philip Jefferson, ”, Jefferson, Mark Hamrick, “, Sam Stovall, David Kotok, Joe Biden, It’s, Mitch McConnell, ” Biden, Biden, Jamie Dimon, Elon Musk, Dimon, he’s, ” Dimon, Matt Egan, he’d Organizations: CNN Business, Bell, New York CNN, Federal Reserve, Bureau of Labor Statistics, BLS, Fed, Index, Commerce Department, FedWatch, Cumberland Advisors, Senate, ”, JPMorgan, Bloomberg Television, Bloomberg Locations: New York, China, Europe, United States, America

☆ Nvidia is the clear winner in the AI race. Its stock isn't the only reason why.
▼ + stars: | 2023-05-30 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

Last week I asked you all a question in the newsletter — Do you own Nvidia stock? One of you even told me you first bought the stock when Nvidia was $16(!) Nvidia is the clear winner in the AI arms race so far. A secretive hedge fund has likely notched a $5 billion gain on Nvidia stock this year. Shares of the company hovered near their biggest single-day spike ever, and the chipmaker credited AI for its upbeat quarterly outlook.

May 30 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever. The onshore yuan traded weaker than 7.00 per dollar for the eighth straight day, as markets position for another hike in U.S. interest rates and potential policy easing from Beijing. The dollar nudged 141 yen before closing slightly lower on the day, with traders' hawkish Fed forecasts relative to the Bank of Japan's policy outlook again keeping dollar bulls on the front foot. At the time of writing, U.S. stock futures pointed to gains on Wall Street of up to 0.5% on Tuesday. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ A notorious market bear who called the 2000 and 2008 crashes warns the S&P 500's 17% surge since October is a bear market rally — and that stocks are ripe for a decline of up to 60%
▼ + stars: | 2023-05-27 | by ( William Edwards | ) www.businessinsider.com time to read: +7 min

Since October 2022, the S&P 500 is up 17% following a 25% decline as the Fed embarked on its rate-hiking cycle. The median S&P 500 price target for the end of the year is 4,000. Predicted in 2000 that the S&P 500 would likely see negative total returns over the following decade, which it did. Predicted in April 2007 that the S&P 500 could lose 40%, then it lost 55% in the subsequent collapse from 2007 to 2009. The S&P 500, by comparison, is up 1.1% over the past year.

☆ Next week promises any debt deal relief may prove short-lived with jobs report, Fed decision looming
▼ + stars: | 2023-05-26 | by ( Scott Schnipper | ) www.cnbc.com time to read: +5 min

"The overhangs on the market this year [are] the debt ceiling negotiation, hawkish Fed commentary and a banking crisis. It appears we are going to get a debt ceiling deal over the weekend, which should help the market to stabilize." The problem for many on the Street is the action in the S & P 500 Tech Index, up more than 5% this week; the Nasdaq Composite , ahead about 2.5%; and the S & P 500 , with a 0.3% gain, masks so much weakness beneath the surface. The S & P 500 consumer staples, materials, health care and utilities were all down between 2.4% and 3.2% this week, and the Dow Industrials were lower 1%. Although the S & P 500 is 9.5% higher so far in 2023, only a few stocks are doing well. "

To be sure, the April inflation data hit the UK debt market like a thunderbolt. While the headline consumer price inflation rate dropped to 8.7% from 10.1% in March, as energy prices ebbed, that was still far higher than forecast and core inflation rates hit their highest in 31 years at just under 7%. And a chief concern for many households is ongoing annual food price inflation still near 20%. Sterling and real yield spreadsNew UK gilt shock? Using 5-year real yields from the index-linked bond market, that premium jumped almost 40bp this week to its highest since last October.

☆ Famed economist David Rosenberg says home prices are set to fall further as buyers retreat to the sidelines and a hawkish Fed means stubbornly high mortgage rates
▼ + stars: | 2023-05-26 | by ( William Edwards | ) www.businessinsider.com time to read: +5 min

With mortgage rates unlikely to budge and incomes unlikely to grow, prices are due to drop. Housing affordability is calculated by accounting for three variables: home prices, mortgage rates, and incomes. Ian Shepherdson, the chief economist at Pantheon Macroeconomics who said in the 2005 that a housing downturn would spark a recession, made the same argument in recent weeks. Now that's quite striking because mortgage rates are no longer at peak, but applications are still falling. This would send interest rates — and therefore mortgage rates, which trade closely with Treasury rates — higher, further hurting demand and affordability, Moody's Chief Economist Mark Zandi recently told Fortune.

☆ Dollar higher as U.S. debt ceiling concerns keep traders nervous
▼ + stars: | 2023-05-23 | by ( ) www.cnbc.com time to read: +3 min

The U.S. dollar hit a two-month high against a basket of currencies on Tuesday as a lack of progress in talks over increasing the U.S. debt limit hurt investors' appetite for risk-taking. "I think the dollar saw a modest boost today as stocks have declined, mostly due to the lack of progress on the debt ceiling deal," said John Doyle, vice president of trading and dealing at Monex USA. While most market participants expect a deal eventually, the delay in getting it done was keeping traders nervous, Doyle said. "The focus is slowly going back towards inflation and all this hawkish Fed speak we've been getting," said Edward Moya, senior market analyst at OANDA in New York. "We're probably looking at a market that is repositioning itself for a little bit more dollar strength here as these Fed rate cut bets get pushed back a little bit further and higher for longer."

Persons: Joe Biden, John Doyle, Doyle, James Bullard, Neel Kashkari, we've, Edward Moya, Jerome Powell, Powell, Moya Organizations: U.S, Republicans, Monex USA, Fed, Traders Locations: New York

☆ Dollar gains as debt deal hopes rekindle hawkish Fed bets
▼ + stars: | 2023-05-19 | by ( Rae Wee | ) www.reuters.com time to read: +4 min

That eased fears of an unprecedented and economically catastrophic default, leading markets to revise their expectations of where U.S. interest rates could go. The euro fell to a more than seven-week low of $1.0760, while the U.S. dollar index rose 0.07% to 103.57, flirting with Thursday's two-month high of 103.63. "It does remove one obstacle to the Fed continuing to raise rates." U.S. Treasury yields have climbed on the back of the hawkish Fed repricing and amid a pick up in risk sentiment. The two-year Treasury yield , which typically moves in step with interest rate expectations, last stood at 4.2510%, while the benchmark 10-year yield was last at 3.6402%.

☆ Morning Bid: Rehash on rates ahead as ECB, BOE and Fed speak
▼ + stars: | 2023-05-19 | by ( ) www.reuters.com time to read: +2 min

[1/2] Flowers are seen outside the Bank of England in the City of London financial district in London, Britain May 11, 2023. REUTERS/Henry NichollsA look at the day ahead in European and global markets from Vidya RanganathanSeveral key central bankers, including Fed Chair Jerome Powell, appear at a variety of events today, ensuring investors have plenty of commentary, and nearly similar synopses. The messaging from the BOE after last week's 12th rate rise has been consistent: It isn't done, the labour market is tight, quantitative tightening might even pick up pace. Wall Street, Treasury yields, implied U.S. interest rates and the dollar all rose on Thursday. G7 leaders kicked off a three-day summit in Hiroshima on Friday, and the focus there is on fresh sanctions against Russia and what they say about China.

☆ Dollar buoyed by hawkish Fed expectations as debt deal eyed
▼ + stars: | 2023-05-19 | by ( Rae Wee | ) www.reuters.com time to read: +4 min

SINGAPORE, May 19 (Reuters) - The dollar firmed near a six-month peak against the yen on Friday on the back of rising U.S. Treasury yields, as optimism over debt ceiling talks in Washington raised expectations of higher-for-longer interest rates. The news helped calm fears of an unprecedented and economically catastrophic American debt default, leading markets to revise their expectations of where U.S. interest rates could go. The dollar stayed elevated in early Asia trade on Friday and last bought 138.40 yen , having risen to a near six-month high of 138.75 yen in the previous session. U.S. Treasury yields have climbed on the back of the hawkish Fed repricing and amid a pick up in risk sentiment. The two-year Treasury yield , which typically moves in step with interest rate expectations, last stood at 4.2581%, edging away from a low of 3.964% at the start of the week.

☆ Markets next week may keep thinking about what could go right
▼ + stars: | 2023-05-19 | by ( Scott Schnipper | ) www.cnbc.com time to read: +7 min

At least that's the thinking of a small but growing chorus of voices on Wall Street who outline the case for further stock market gains after both the S & P 500 and Nasdaq Composite touched nine-month highs this past week. The VIX was trading around 16-17 late this week, signaling no great fear among professional traders. Walmart and other retailers this week highlighted consumers are spending less freely, but they're still spending , and that drives two thirds of the economy. Even Mark Haefele, chief investment officer at UBS Global Wealth Management, wrote late this week that he has to entertain what could go right in markets, despite the fact his own view is fundamentally bearish. If that "upside scenario" happens, UBS sees global stocks moving 13% higher by the end of December, and the S & P 500 surging another 6% — to north of 4,400.

Japan takes center stage on Friday, with the April consumer price inflation report grabbing the data spotlight and the Group of Seven leaders summit in Hiroshima stealing the global political and economic limelight. The broad Topix index hit that milestone this week, and the Nikkei 225 index came within 0.5% of reaching it on Thursday. As Phil Suttle, a former World Bank economist, wrote on Thursday: "Japan is back!" G7 leaders begin a three-day summit in Hiroshima on Friday, with world market attention focused most on what they say about China. Here are three key developments that could provide more direction to markets on Friday:- Japan CPI inflation (April)- G7 leaders summit (Japan)- Fed Chair Jerome Powell speaksBy Jamie McGeever; editing by Deepa BabingtonOur Standards: The Thomson Reuters Trust Principles.

☆ As earnings season winds down, investors turn to Tuesday's debt ceiling meeting
▼ + stars: | 2023-05-06 | by ( Zev Fima | ) www.cnbc.com time to read: +12 min

With only a small fraction of the S & P 500 left to report quarterly earnings, investors are now turning their focus to another major hurdle for the markets and economy: the debt ceiling crisis. Earlier this week, we looked back to debt limit crisis of 2011 for potential lessons. The protracted fight ultimately ended in an agreement in early August of that year, but it was a choppy summertime ride for investors. Within the portfolio, Wynn Resorts will report Tuesday, after the closing bell, and Disney will report on Wednesday, after the closing bell. Estee Lauder (EL) and Emerson Electric (EMR) reported earnings before the opening bell.

☆ 'The equity market is poised to struggle in the weeks and months ahead': Comerica Bank's CIO says the S&P 500 is primed for a 15% drop as weak earnings, high valuations, and a hawkish Fed all work aga
▼ + stars: | 2023-04-22 | by ( William Edwards | ) www.businessinsider.com time to read: +6 min

Year-to-date, the S&P 500 is up 8%. Plus, when the Consumer Price Index is between 4-6% like it is now, it usually dictates that the S&P 500 trades at a lower multiple than it is. "For example, at the current S&P 500 P/E of 19, the earnings yield for stocks is 1 divided by 19, or ~5.2%. While he sees 15% downside in the months ahead, he also believes the S&P 500 will return to current levels by the end of 2023. Morgan StanleyWilson has also repeatedly warned of an earnings recession ahead, and recently said that the pullback in lending from banks strengthens his case.

☆ Gold retreats to weekly loss on hawkish Fed
▼ + stars: | 2023-04-21 | by ( ) www.cnbc.com time to read: +2 min

Gold fell sharply on Friday and was headed for its worst week in eight as hawkish remarks by U.S. Federal Reserve officials through the week bolstered bets for at least one more interest rate hike and buoyed the dollar. Spot gold dropped 1.4% to $1,976.27 per ounce by 12:18 p.m. U.S. gold futures fell 1.5% to $1,987.10. Bullion has shed about 1.2% so far this week, pressured by the dollar's gains overall, which made bullion more expensive for overseas buyers. Markets now see an 89% chance of a 25-basis point rate hike at the Fed's May 2-3 meeting.

☆ The economist who discovered the inverted yield curve as a recession indicator now says his model will prove correct again as the Fed continues to hike rates — and that a downturn will strike anytime
▼ + stars: | 2023-04-20 | by ( William Edwards | ) www.businessinsider.com time to read: +4 min

Harvey discovered the inverted yield curve as a recession indicator. Back in December, Cam Harvey made an eyebrow-raising call: the inverted yield curve, the famous recession indicator he discovered in the 1980s, would produce its first false reading since the 1960s. Harvey's yield curve looks at yields on three-month bills and 10-year notes; the latter are normally higher. Another reason Harvey's view has dimmed is that short-term inflation expectations have come down, meaning the real-yield curve (which is adjusted for inflation expectations) has now inverted. In December, Harvey said that much higher short-term inflation expectations relative to long-term expectations meant that real yields weren't inverted.

The dollar index , which tracks the currency against a basket of its peers, was little changed at 101.96 after climbing 0.27% on Wednesday. "The banking results continue to show that the U.S. bank funding situation is stabilizing," said Bank of Singapore currency strategist Sim Moh Siong. "You have the UK CPI that turned out hotter than expected, at the same time the New Zealand CPI which turned out lower than expected, which are driving the sterling and kiwi," he added. New Zealand's consumer price index (CPI) for the first quarter came in below expectations on Thursday, but remained near historic highs. That followed hotter than expected CPI figures in Britain that boosted bets for a rate hike from the Bank of England in May.

☆ Dollar bounces as expectations of Fed rate hike climb
▼ + stars: | 2023-04-17 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

While U.S. retail sales fell more than expected in March, so-called core retail sales, which excludes automobiles, gasoline, building materials and food services, slipped just 0.3% last month, data released on Friday showed. So I think that will increase (expectations) for the Fed to continue raising interest rates," said Tina Teng, market analyst at CMC Markets. The two-year U.S. Treasury yield , which typically moves in step with interest rate expectations, stood at 4.1161%, after hitting a roughly two-week top of 4.137% on Friday. Some hawkish Fed speak also aided the higher interest rate expectations, with Fed Governor Christopher Waller and Atlanta Fed President Raphael Bostic suggesting that the Fed could hike another 25 bps next month. The offshore yuan fell roughly 0.1% to 6.8786 per dollar.

☆ Why the stock market's running of the bulls might be about to kick off
▼ + stars: | 2023-04-17 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

Optimists rejoice — Wall Street strategists just pinpointed a handful of trends, indicators, and gauges that all suggest 2023 could see a new running of the bulls. The S&P 500 has already seen a sturdy 8% gain to start 2023, but year-end gains could be even bigger if one of BofA's bullish surprises pan out. "The S&P 500 has now spent more than 25 weeks above its 200-week moving average," Lee said. "Since 1950, there are zero instances of the S&P 500 making a new low once it has recovered above the 200-week moving average and spent at least 15 weeks there." US stock futures rise early Monday, as investors brace for a crucial week of earnings reports to weigh recession risks.

☆ Dollar rebounds on higher expectations for Fed hike in May
▼ + stars: | 2023-04-17 | by ( ) www.cnbc.com time to read: +3 min

The dollar bounced from a one-year low on Monday as resilience in core U.S. retail sales, a rise in short-term inflation expectations and impressive Wall Street bank earnings raised market expectations for an interest rate hike in May. Against a basket of currencies, the U.S. dollar index rose 0.15% to 101.82, standing some distance away from Friday's one-year low of 100.78. So I think that will increase (expectations) for the Fed to continue raising interest rates," said Tina Teng, market analyst at CMC Markets. Short-term inflation expectations have also increased, with the University of Michigan's preliminary April reading showing that one-year inflation expectations rose to 4.6% from 3.6% in March. Some hawkish Fed speak also aided the higher interest rate expectations, with Fed Governor Christopher Waller and Atlanta Fed President Raphael Bostic suggesting that the Fed could hike another 25 bps next month.

☆ JPMorgan boss Jamie Dimon says storm clouds are gathering for the US economy as financial conditions tighten
▼ + stars: | 2023-04-14 | by ( Morgan Chittum | ) www.businessinsider.com time to read: +2 min

JPMorgan's CEO said he sees trouble ahead for the US economy. Banking sector woes, a hawkish Fed, and Russia's invasion of Ukraine make for an uncertain macro forecast. The investment bank posted record revenue for its first fiscal quarter on the back of higher interest rates. The bank posted strong results, with record revenue of $38.3 billion handily beating expectations on the back of higher interest income thanks to the US central bank's aggressive monetary tightening campaign. Banking sector woes, a hawkish Fed, uncertain relations with China, and Russia's invasion of Ukraine all contribute to an uncertain macro forecast, the JPMorgan chairman said.

☆ Slowing US inflation shifts investor focus to earnings season
▼ + stars: | 2023-04-12 | by ( David Randall | ) www.reuters.com time to read: +4 min

Wednesday’s data showed consumer prices growing at a slower pace than expected last month, bolstering the argument that inflation is decelerating. Yet some investors believe markets may have already accounted for a mild inflation slowdown and say further gains in stocks could depend on whether upcoming corporate earnings - especially results from banks - can beat forecasts. Earnings per share for the six largest U.S. banks are expected to fall 10% from the same quarter last year, according to Refinitv data. Overall, analysts expect S&P 500 earnings to fall 5.2% in the first quarter of 2023 from the year-ago period, I/B/E/S data from Refinitiv as of April 7 showed. That weakness would come on the heels of a 3.2% earnings fall in the fourth quarter of 2022, a back-to-back decline known as an earnings recession which has not occurred since COVID-19 blasted corporate results in 2020.

☆ Club meeting recap: Jim Cramer says industrial giant Honeywell is a buy
▼ + stars: | 2023-04-12 | by ( Kevin Stankiewicz | ) 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. Stocks fall, despite softer inflation Stocks gave up early gains Wednesday after having initially climbed on fresh data showing inflation cooled in March . Stick with Meta Meta Platforms (META) is still a terrific stock to own, Jim said Wednesday. 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 .

☆ Dollar pauses after strong gains on hawkish Fed bets; bitcoin hits $30,000
▼ + stars: | 2023-04-11 | by ( Kevin Buckland | ) www.reuters.com time to read: +3 min

Leading cryptocurrency bitcoin briefly touched $30,000 for the first time since June. The U.S. dollar index - which measures the greenback against six major counterparts, including the yen - slipped 0.06% in early Asian trading, following a 0.39% advance at the start of the week. The consumer price index (CPI), due on Wednesday, will be the next major clue for Fed policy direction. The dollar index dropped to a two-month low of 101.40 on Wednesday. Bitcoin touched a fresh 10-month high at $30,000 in early Tuesday trade before last fetching $29,787, after breaking free of recent ranges on Monday.

Search resuls for: "hawkish Fed"

25 mentions found