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☆ Biden bets on economic gains as inflation lingers
▼ + stars: | 2023-07-06 | by ( Reuters Editorial | ) www.reuters.com time to read: 1 min

PoliticsBiden bets on economic gains as inflation lingersPostedPresident Joe Biden traveled to South Carolina to tout a new $60 million solar investment as the latest example that he is rebuilding the U.S. manufacturing industry.

Persons: Biden, Joe Biden Locations: South Carolina

☆ Oil prices rise 2% as market weighs supply cuts against economic outlook
▼ + stars: | 2023-07-04 | by ( Natalie Grover | ) www.reuters.com time to read: +3 min

LONDON, July 4 (Reuters) - Oil prices climbed 2% on Tuesday as markets weighed August supply cuts by top exporters Saudi Arabia and Russia against a weak global economic outlook. The total cuts now stand at more than 5 million bpd, or 5% of global oil output. "Clearly, the Saudis are taking proactive and pre-emptive steps to stabilize the price of crude oil as well as see gains to reach $80 a barrel to sustain their domestic budgets," said Andrew Lipow, president of Houston-based Lipow Oil Associates. Even so, the market will wait to verify Russia's announced cuts, and concerns continue that high interest rates will weigh on global demand, Lipow said. Oil benchmarks settled about 1% down in the previous session, as a gloomy macroeconomic outlook served to erase early gains.

Persons: Tamas Varga, Andrew Lipow, Russia's, Lipow, Craig Erlam, Natalie Grover, Rod Nickel, Arathy Somasekhar, Trixie Yap, Mark Potter, Alexander Smith, David Goodman, Bill Berkrot Organizations: Brent, . West Texas, Houston, Lipow Oil Associates, Independence, International Energy Agency, Thomson Locations: Saudi Arabia, Russia, Algeria, OPEC, China, Europe, U.S, London, Winnipeg , Manitoba, Houston, Singapore

☆ Oil up as market weighs supply cuts against gloomy economic outlook
▼ + stars: | 2023-07-04 | by ( Natalie Grover | ) www.reuters.com time to read: +2 min

LONDON, July 4 (Reuters) - Oil prices ticked higher on Tuesday as markets weighed supply cuts for August by top exporters Saudi Arabia and Russia against a weak global economic outlook. However, oil benchmarks settled down about 1% in the previous session, after an initial rally, on the back of a gloomy macroeconomic outlook. Tuesday morning trade suggests little has changed in oil dynamics despite Monday's announcements, Craig Erlam, OANDA analyst told Reuters. Even before these new cut announcements, International Energy Agency (IEA) data suggested the oil market was set to show a supply deficit of roughly 2 million bpd in the third and fourth quarters, noted Commerzbank analysts. Still, oil prices did not jump significantly on the news, largely due to demand concerns, particularly given sluggish economic recovery in China following the lifting of coronavirus restrictions.

Persons: Tamas Varga, Craig Erlam, Natalie Grover, Arathy Somasekhar, Trixie Yap, Mark Potter, Alexander Smith Organizations: Brent, . West Texas, Reuters, International Energy Agency, Independence, Thomson Locations: Saudi Arabia, Russia, Algeria, OPEC, China, Europe, U.S, London, Houston, Singapore

LONDON/HONG KONG, July 4 (Reuters) - Global stocks held steady on Tuesday, as investors balanced the inflationary force of rising oil prices with hopes that central banks would not over-tighten monetary policy into a potential recession. Earlier in the session, Australia's central bank held interest rates steady at 4.1%, saying it needed time to assess the economic impact of its rate hikes so far. Complicating the outlook for inflation, oil prices rose on Tuesday as markets weighed supply cuts for August by top producers Saudi Arabia and Russia. Brent crude futures climbed 0.6% to $75.09 a barrel, with West Texas Intermediate crude adding the same amount to $70.23. "At least the improved supply-demand imbalance seems to be having an effect on price pressures," Capital Economics global economist Ariane Curtis said.

Persons: Europe's, Brent, Ariane Curtis, Curtis, Manishi Raychaudhuri, Raychaudhuri, Schatz, Paul Volcker, Ankur Banerjee, Sam Holmes, Himani Sarkar, Alex Richardson Organizations: U.S . Federal Reserve, Wall, West Texas, Institute of Supply Management, Economics, Asia, BNP Paribas, Treasury, Independence, U.S, Fed, Thomson Locations: HONG KONG, Saudi Arabia, Russia, U.S, Singapore

July 4 (Reuters) - Oil prices rose on Tuesday as markets weighed supply cuts for August by top exporters Saudi Arabia and Russia against the backdrop of an uncertain global economic outlook. Instead, the uncertain macro outlook is what the market is focused on," ING analysts said in a client note. Saudi Arabia on Monday said it would extend its voluntary cut of 1 million barrels per day (bpd) from output to August, the kingdom's state news agency reported. The cuts amount to 1.5% of global supply and bring the total pledged by OPEC+ oil producers to 5.16 million bpd as Riyadh and Moscow look to prop up prices. However, the weaker economic growth demand still suggests demand for merchandise remains weak, which would weigh on distillates consumption, ANZ analysts said in a client note.

Persons: Brent, Alexander Novak, Morgan, Arathy Somasekhar, Trixie Yap, Tom Hogue, Gerry Doyle Organizations: . West Texas, ING, bbl, OPEC, of, Petroleum, U.S, ANZ, Thomson Locations: Saudi Arabia, Russia, U.S, Riyadh, Moscow, China, Europe, Houston, Singapore

July 4 (Reuters) - Oil prices held steady early on Tuesday as markets weighed supply woes from cuts for August by top exporters Saudi Arabia and Russia against mixed analyst views on economic data that could hint at weak crude demand. Instead, the uncertain macro outlook is what the market is focused on," ING analysts said in a client note. Saudi Arabia on Monday said it would extend its voluntary cut of 1 million barrels per day (bpd) from output to August, the kingdom's state news agency reported. Russia will also reduce its oil exports by 500,000 bpd in August, Deputy Prime Minister Alexander Novak said. The cuts amount to 1.5% of global supply and bring the total pledged by OPEC+ oil producers to 5.16 million bpd as Riyadh and Moscow look to prop up prices.

Persons: Brent, Alexander Novak, Morgan, Arathy Somasekhar, Trixie Yap, Tom Hogue, Gerry Doyle Organizations: Brent, . West Texas, ING, bbl, OPEC, of, Petroleum, U.S, ANZ, Thomson Locations: Saudi Arabia, Russia, U.S, Riyadh, Moscow, China, Europe, Houston, Singapore

☆ Yen steady, markets on intervention alert; Aussie up before RBA decision
▼ + stars: | 2023-07-04 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

"This is sending signals that a coordinated intervention may be coming as yen continues to hover above 144 per dollar," said Charu Chanana, market strategist at Saxo Markets. "A coordinated intervention usually has a longer lasting impact on the yen than a unilateral intervention would have." RBA WATCHThe focus in Asian hours will be on the policy decision from the Reserve Bank of Australia (RBA). "We estimate that a hike would push up Aussie modestly by 0.8% so long as the post‑meeting statement was not dovish. The Australian dollar was at $0.668, up 0.16% against the U.S. dollar, while the New Zealand dollar was also up 0.16% at $0.616.

Persons: Shunichi Suzuki, Masato Kanda, Janet Yellen, Charu, Kristina Clifton, CBA's Clifton, Ankur Banerjee, Shri Navaratnam Organizations: U.S, Treasury, Saxo Markets, Bank, Commonwealth Bank of Australia, U.S . Federal, Reserve Bank of Australia, Reuters, Australian, U.S ., New Zealand, Thomson Locations: SINGAPORE, Japan, U.S, United States, U.S ., Tokyo, Singapore

☆ Oil steady as markets weigh supply cuts against weak economic data
▼ + stars: | 2023-07-04 | by ( ) www.cnbc.com time to read: +1 min

Oil prices held steady on Tuesday as markets weighed supply woes from cuts for August by top exporters Saudi Arabia and Russia against economic data that hinted at weak crude demand. Russia will also reduce its oil exports by 500,000 bpd in August, Deputy Prime Minister Alexander Novak said. The cuts amount to 1.5% of global supply and bring the total pledged by OPEC+ oil producers to 5.16 million bpd as Riyadh and Moscow look to prop up prices. Industry data on inventories will be published on Wednesday and official data on Thursday, both delayed by a day due to the U.S. holiday. A Reuters poll last week forecast that oil prices would struggle for traction this year as global economic headwinds stymie any gains fueled by a rebound in China or OPEC+ cuts.

Persons: Alexander Novak Organizations: Brent, . West Texas, OPEC, Organization of, Petroleum, Reuters Locations: Saudi Arabia, Russia, U.S, Riyadh, Moscow, China, Europe, OPEC

☆ Yen steady, markets on intervention alert, Aussie up before RBA decision
▼ + stars: | 2023-07-04 | by ( ) www.cnbc.com time to read: +3 min

The yen nudged up on Tuesday but remained vulnerable to more weakness, hovering near the key 145 per dollar level as markets were on alert for signs of intervention, while the Australian dollar moved up ahead of a central bank policy decision. "This is sending signals that a coordinated intervention may be coming as yen continues to hover above 144 per dollar," said Charu Chanana, market strategist at Saxo Markets. "A coordinated intervention usually has a longer lasting impact on the yen than a unilateral intervention would have." The focus in Asian hours will be on the policy decision from the Reserve Bank of Australia, or RBA. The Australian dollar was at $0.668, up 0.16% against the U.S. dollar, while the New Zealand dollar was also up 0.16% at $0.616.

Persons: Shunichi Suzuki, Masato Kanda, Janet Yellen, Charu, Kristina Clifton, CBA's Clifton Organizations: U.S, Treasury, Saxo Markets, Bank, Commonwealth Bank of Australia, U.S . Federal, Reserve Bank of Australia, Reuters, Australian, U.S ., New Zealand Locations: Japan, U.S, United States, U.S .

☆ Gold listless as investors wait for Fed's June meeting minutes
▼ + stars: | 2023-07-04 | by ( ) www.cnbc.com time to read: +2 min

Bars of gold are seen at Krastsvetmet, one of the world's largest producers of precious metals, in Moscow, January 31, 2023. Spot gold was little changed at $1,921.39 per ounce by 0241 GMT, while U.S. gold futures were flat at $1,929.10. High interest rates discourage investment in non-yielding gold. Markets will also watch for minutes of the June 13 to14 FOMC meeting being released on Wednesday. While gold prices could recover to $1,940 before a potential drop lower, "the rates background remains a significant drag," Frappell added.

Persons: Nicholas Frappell, Frappell, Masato Kanda Organizations: U.S, ABC Refinery, Investors, Reserve Bank of Locations: Moscow, U.S, U.S . Federal

☆ Stocks edge higher with Treasury yields in holiday-shortened session
▼ + stars: | 2023-07-03 | by ( Sinéad Carew | ) www.reuters.com time to read: +6 min

Apple (AAPL.O) closed down 0.8% on Monday after closing Friday's session with a $3 trillion market valuation. Still, MSCI's world equity index (.MIWD00000PUS) earlier hit its highest level in just over two weeks, while the pan-European STOXX 600 index (.STOXX) also hit a two-week peak closing down. The pan-European STOXX 600 index lost 0.21% while MSCI's gauge of stocks across the globe (.MIWD00000PUS) gained 0.31%. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) closed 1.46% higher, while Japan's Nikkei (.N225) added 1.70%. The dollar index rose 0.039%, with the euro down 0.01% to $1.0909.

Persons: Brendan McDermid, Dow, Peter Tuz, Tesla, we're, Paul Volcker, Sterling, May's, Brent, Sinéad Carew, Dhara Ranasinghe, Wayne Cole, Karin Strohecker, Amanda Cooper, David Evans, Mark Potter, Andrea Ricci Organizations: New York Stock Exchange, REUTERS, Wall, U.S, Treasury, Nasdaq, Apple, Banks, Chase Investment, Dow Jones, Japan's Nikkei, Fed, Key, Bank of Japan, Federal, Thomson Locations: New York City, U.S, ., Charlottesville , Virginia, Asia, Pacific, Japan, United States, Saudi Arabia, Russia, New York, London, Sydney

☆ Stocks make little progress with Treasury yields choppy in holiday-shortened session
▼ + stars: | 2023-07-03 | by ( Sinéad Carew | ) www.reuters.com time to read: +5 min

However, U.S. construction spending rose more than expected in May as a severe shortage of houses boosted single-family homebuilding. U.S. data on Friday, which hinted towards cooling inflation, helped bolster gains in the tech sector and underpinned sentiment in world stocks. The pan-European STOXX 600 index (.STOXX) lost 0.21% and MSCI's gauge of stocks across the globe (.MIWD00000PUS) gained 0.29%. U.S. Treasury yields were last up but lost ground earlier after the economic data showed the manufacturing sector continues to struggle. Gold prices advanced slightly on Monday as weaker economic readings cast doubts over whether the Federal Reserve would stick to its hawkish policy outlook.

Persons: Dow, Paul Volcker, Peter Tuz, we're, Sterling, May's, Brent, Sinéad Carew, Dhara Ranasinghe, Wayne Cole, Karin Strohecker, Amanda Cooper, David Evans, Mark Potter, Andrea Ricci Organizations: YORK, Wall, Nasdaq, U.S, Treasury, Fed, Apple, Chase Investment, Dow Jones, Japan's Nikkei, Key, Bank of Japan, Federal, Thomson Locations: United States, U.S, ., Charlottesville , Virginia, Asia, Pacific, Japan, Saudi Arabia, Russia, New York, London, Sydney

The Institute for Supply Management (ISM) said its manufacturing PMI dropped to 46.0 from 46.9 in May, the lowest reading since May 2020. "The ISM saw the dollar pare its earlier gains," he said. The yield on interest rate-sensitive two-year Treasuries fell on the news, before later heading higher, as did the dollar. The yen fell to near eight-month lows against the dollar as intervention came into sight after Finance Minister Shunichi Suzuki warned on Friday against investors selling the yen too far as it weakened past the threshold of 145 to the dollar. The Japanese yen weakened 0.17% versus the greenback to 144.59 per dollar.

Persons: Marc Chandler, pare, Treasuries, Shunichi Suzuki, Joice Alves, Ankur Banerjee, David Evans, Conor Humprhies, Christina Fincher Organizations: Institute for Supply Management, PMI, Bannockburn Global, Japan, Bank of Japan, European Central Bank, Thomson Locations: Bannockburn, New York, China, London, Singapore

SummarySummary Companies Tesla jumps on upbeat Q2 vehicle deliveriesChinese automakers climb on strong June salesOil stocks up as Saudi Arabia, Russia announce supply cutsFutures: Nasdaq up 0.18%, Dow down 0.14%, S&P flatJuly 3 (Reuters) - Nasdaq futures rose on Monday as Tesla shares extended gains after the electric-vehicle maker reported record vehicle deliveries in the second quarter. Tesla (TSLA.O) gained 6.6% in premarket trading, a day after the company's quarterly vehicle deliveries topped market estimates on the back of incentives and steeper discounts. ET, Dow e-minis were down 49 points, or 0.14%, S&P 500 e-minis were up 1.5 points, or 0.03%, and Nasdaq 100 e-minis were up 27.5 points, or 0.18%. Trading volumes are expected to be thin with markets open for just half the day, ahead of the Independence Day holiday on Tuesday. U.S.-listed shares of Chinese carmakers Xpeng , Li Auto and Nio rose between 5.8% and 9.1% after the companies reported a surge in June vehicle deliveries compared with a year earlier.

Persons: Tesla, Susannah Streeter, Hargreaves Lansdown, Investors, Li Auto, Bansari Mayur Kamdar, Johann M, Pooja Desai, Vinay Dwivedi Organizations: Nasdaq, Dow, Hargreaves, Investors, Dow e, Chevron, Exxon Mobil, Fidelity National Information Services, Financial, Thomson Locations: Saudi Arabia, Russia, Worldpay, Bengaluru

☆ Morning Bid: Second-half lift, Tesla beat
▼ + stars: | 2023-07-03 | by ( ) www.reuters.com time to read: +4 min

The news was a bit less rosy for America's largest cap stock Apple (AAPL.O), which last week became the first ever company to top a $3 trillion market capitalization. Aided by loose monetary policy, the exporting-fillip of a weakening yen and new chip-sector alliances, Japan's Nikkei (.N225) closed at a 33-year high. U.S. stock futures were a fraction higher again, with Tuesday's Independence Day holiday likely to keep trading volumes subdued. Two-year Treasury yields rose as high as 4.96%, their highest in almost 4 months. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Mike Dolan, Tesla, Italy's, Delfin, Janet Yellen, Toby Chopra Organizations: Nasdaq, Monday's Financial Times, Apple, Japan's Nikkei, MIB, Treasury, Federal, Reuters, Thomson Locations: U.S, bourses, Asia, Europe, Beijing

☆ US manufacturing slump deepens, factory gate price pressures subdued
▼ + stars: | 2023-07-03 | by ( Lucia Mutikani | ) www.reuters.com time to read: +6 min

Shrinking activity left factories resorting to layoffs, the survey from the Institute for Supply Management (ISM) showed on Monday. ISM Manufacturing Business Survey Committee Chair Timothy Fiore described the practise as happening "to a greater extent than in prior months." At face value, the ISM survey is consistent with an economy that is in recession. The ISM survey showed that transportation equipment was the only one of the six biggest industries reporting growth last month. ISM manufacturing PMIWEAK DEMANDThe ISM survey's forward-looking new orders sub-index climbed to a still-subdued 45.6 from 42.6 in May amid increased caution from businesses and consumers alike.

Persons: Timothy Fiore, payrolls, Andrew Hunter, Jonathan Millar, José Torres, Lucia Mutikani, Chizu Nomiyama, Andrea Ricci Organizations: Institute for Supply Management, Manufacturing Business Survey, Federal Reserve, Capital Economics, PMI, Reuters, Treasury, Barclays, Manufacturers, Machinery, Commerce Department, Interactive Brokers, Thomson Locations: homebuilding WASHINGTON, U.S, New York, Miami

Tesla (TSLA.O) gained 7.4% to hit a nine-month high, a day after its car deliveries topped market estimates on the back of incentives and steeper discounts. The consumer discretionary sector (.SPLRCD) that includes Tesla rose 1.5%, leading gains among the top 11 S&P 500 sectors, while healthcare stocks (.SPXHC) declined. Fidelity National Information Services (FIS.N) added 5.4% as buyout groups weighed bids for a majority stake in Worldpay, co-owned by the financial services firm, according to a Financial Times report. Advancing issues outnumbered decliners by a 2.02-to-1 ratio on the NYSE and a 1.53-to-1 ratio on the Nasdaq. The S&P index recorded 12 new 52-week highs and no new low, while the Nasdaq recorded 42 new highs and 33 new lows.

Persons: Hogan, Investors, Li Auto, Bansari Mayur Kamdar, Johann M, Pooja Desai, Vinay Dwivedi Organizations: Dow, Nasdaq, Riley, General Motors, Ford, EV, Rivian Automotive, Traders, Apple, Microsoft, Dow Jones, Fidelity National Information Services, Financial, NYSE, Thomson Locations: Worldpay, Bengaluru

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

Appearing before the Senate Banking Committee, Powell reiterated his view that more rate hikes are likely in the months ahead. Richmond Fed President Tom Barkin said he remains unconvinced that inflation is on a steady path downward, but would not prejudge what the Fed should do at its July 25-26 meeting. Investors will also monitor comments from St. Louis Fed President James Bullard, Atlanta Fed President Raphael Bostic and Cleveland Fed's President Loretta Mester. ET, Dow e-minis were down 109 points, or 0.32%, S&P 500 e-minis were down 22 points, or 0.5%, and Nasdaq 100 e-minis were down 101.75 points, or 0.67%. Reporting by Shubham Batra, Shreyashi Sanyal and Shashwat Chauhan in Bengaluru; Editing by Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.

Persons: Jerome Powell, Powell, Matt Britzman, Hargreaves Lansdown, Tom Barkin, Louis, James Bullard, Raphael Bostic, Loretta Mester, Shubham Batra, Shreyashi Sanyal, Shashwat Chauhan, Arun Koyyur Organizations: Dow, Nasdaq, Banking, Richmond Fed, Deutsche Bank, Louis Fed, Atlanta Fed, Cleveland, Dow e, 3M, Carmax Inc, Thomson Locations: U.S, Bengaluru

☆ U.S. manufacturing jobs are coming back home — and these industrials stand to gain
▼ + stars: | 2023-06-22 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +6 min

The Club's industrials are set to profit from a burgeoning trend of companies bringing manufacturing jobs back to the U.S. from overseas. As companies reconstruct supply chains in the wake of the Covid-19 pandemic, Mizuho analysts see a multiyear revenue benefit for Western industrials. But companies that enable manufacturing automation, including Emerson, follow closely behind as "core beneficiaries" of the reindustrialization cycle, according to Mizuho. Meanwhile, Mizuho pointed to Honeywell as one of the companies offering a more diversified way for investors to gain reshoring exposure. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Stanley Black, Decker, Mizuho, Wall, Emerson, Eaton, Hubbell, Emerson —, —, Reshoring, Frank Dellaquila, Rockwell, Jim Cramer's, Jim Cramer, Jim, Timothy Aeppel Organizations: Mizuho, Emerson, Honeywell International, Honeywell, Emerson Electric, Stanley, Western, National, Rockwell Automation, Citigroup, Citi, Caterpillar, Linde, LIN, U.S . Companies, Taiwan Semiconductor Manufacturing Company, CAT, CNBC, Workers, Emerson Electric Co Locations: U.S, North Carolina, Mizuho, Marshalltown , Iowa

☆ Take Five: Keep calm and raise rates
▼ + stars: | 2023-06-16 | by ( ) www.reuters.com time to read: +5 min

June 16 (Reuters) - The Bank of England is facing a stormy gilts market while Turkey's new governor is expected to ramp up rates sharply at central bank meetings in the week to come. Markets show traders are placing an almost one-in-five chance the BoE will raise rates by half a point next week, up from near zero at the start of June. Reuters Graphics2/ECONOMIC CHECK UPA raft of decidedly hawkish noises from big central banks - including the Fed - has once again raised questions about how much central bank tightening is accelerating a global slowdown. U.S. manufacturing contracted for a seventh straight month, as new orders continued to plummet amid higher interest rates. May's blockbuster employment report could also provide more leeway for the RBA to tighten rates further.

Persons: Antony Blinken, Kevin Buckland, Lewis Krauskopf, Amanda Cooper, Karin Strohecker, BoE, confab, Philip Lowe, Ajay Banga, Hafize Gaye Erkan, Tayyip Erdogan, Erdogan, Mehmet Simsek, Philippa Fletcher Organizations: Bank of England, U.S, Reuters, Reserve Bank of, Investors, Ukraine, Conference, New, Pact, World Bank, Thomson Locations: Beijing, London, Paris, Tokyo, New York, United States, Europe, Japan, U.S, Australia, China, Dnipro, Ukraine

☆ The S&P climbs into bull market territory, with the Fed back in focus next week
▼ + stars: | 2023-06-10 | by ( Zev Fima | ) www.cnbc.com time to read: +3 min

This past week proved be another win for the bulls, as the market rally broadened out beyond the big players in the tech sector. The S & P 500 is officially in bull market territory, closing up over 20% from its October 2022 low. ET: Federal Open Market Committee Meeting After the bell: Lennar (LEN) Thursday, June 15 8:30 a.m. On Thursday, initial jobless claims increased by 28,000 for the week ending June 3, to 261,000, well above the 235,000 expected by the market. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: we'll, LEN, Jabil, Jim Cramer's, Friday's, Jim Cramer, Jim, Spencer Platt Organizations: Federal Reserve, CPI, PPI, Kroger, KR, Micro Devices, Jim Cramer's Charitable, AMD, U.S, West Texas, Treasury, CNBC, Street Bull, Financial, Getty Locations: U.S, New York City

☆ 'This is typical late cycle behavior': New York Life Investments warns a recession is still barreling toward the US economy despite strong jobs data — threatening to sink stocks by 15-20%
▼ + stars: | 2023-06-10 | by ( William Edwards | ) www.businessinsider.com time to read: +5 min

Historically, a median pullback in earnings would mean a 15-20% drop in the S&P 500. The Bureau of Labor Statistics announced on June 2 that the US labor market added 339,000 jobs in May — more than economists had expected. Historically, the Fed tightening cycle takes 18 – 24 months to impact the labor market." Madison Hoff/InsiderHistory shows a recession would mean a rough ride ahead for the stock market, Goodwin said. The median S&P 500 price target among major Wall Street strategists is 4,000, which is 7% lower than current levels.

Persons: Lauren Goodwin, Goodwin, Madison Hoff, Michael Kantrowitz, Piper Sandler, Piper Sandler Piper Sandler, it's, Kantrowitz, Morgan Stanley's Mike Wilson, David Rosenberg, —, Louis Organizations: York Life Investments, Labor Statistics, New York Life Investments, Rosenberg Research, Federal Reserve Bank of St

☆ How Samsung became the world’s No. 2 advanced chipmaker and set the stage for a U.S. manufacturing boom
▼ + stars: | 2023-06-09 | by ( Katie Tarasov | ) www.cnbc.com time to read: +5 min

In this article NVDAQCOM6758.T-JPAMATAMD2330-TW.FKRX300MUAAPL Follow your favorite stocks CREATE FREE ACCOUNTSamsung's $17 billion new chip fab is under construction in Taylor, Texas, on April 19, 2023. CNBC recently went inside Samsung's Austin chip fab, for the first in-depth tour given on camera to a U.S. journalist. Samsung got its start in 1938 as the Samsung Sanghoe Trading Company, founded by Lee Byung-chull in Korea. Just a decade after making its first memory chip, Samsung was coming to market with a version that had 1,000 times the capacity. As consumers rein in their spending in the face of rising inflation, demand for memory chips has weakened sharply.

Persons: Katie Brigham, Jon Taylor, Patel, Jinman Han, Han, Lee Byung, Lee Kun, Geoffrey Cain, weren't, Apple, Cain, Jay Y, Lee, Yoon Suk, Joe Biden, Jonathan Ernst Organizations: AMD, Samsung, Taiwan Semiconductor Manufacturing Company, Intel, they'll, CNBC, Austin, Samsung Sanghoe Trading Company, Samsung Samsung, Samsung Electronics, Samsung TV, Hankook Semiconductor, Apple, Republic of Samsung, Samsung Electronics Pyeongtaek, Reuters Locations: Taylor , Texas, TSMC, U.S, Korea, New Jersey, Silicon Valley, South Korea, Republic of, Austin , Texas, Texas, Austin, Pyeongtaek

Regional and global markets on Friday chalked up solid gains and volatility measures slumped after the release of forecast-smashing U.S. jobs figures. It looks like the 'sell in May and go away' maxim won't apply this year - investors are bullish and they are buying. Looking ahead, investors in Asia have plenty of economic events and monetary policy decisions to get their teeth into this week. Inflation data from Indonesia, the Philippines, Thailand, Taiwan and China will be released, starting with Indonesia on Monday. Economists polled by Reuters expect annual CPI inflation eased in May to a one-year low of 4.22% from 4.33% in April.

Persons: Jamie McGeever, Diane Craft Organizations: Nikkei, Manufacturing, U.S . State Department, Indonesia, Reuters, Reserve Bank of Australia, Reserve Bank of, Indonesia CPI, Thomson Locations: U.S, Asia, Japan, China, India, Australia, Korea's, Beijing, Indonesia, Philippines, Thailand, Taiwan, Reserve Bank of India, Singapore

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