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Search resuls for: "Fed Bank of New York"


5 mentions found


Gold prices inch higher on U.S. rate-cut bets, Middle East woes
  + stars: | 2024-05-07 | by ( ) www.cnbc.com   time to read: +2 min
One kilogram gold bullion at the YLG Bullion International Co. headquarters in Bangkok, Thailand, on Friday, Dec. 22, 2023. Gold prices edged higher on Tuesday, steered by bets that the U.S. Federal Reserve would cut interest rates later this year and safe-haven demand for bullion as Gaza ceasefire remains uncertain. Spot gold was up 0.1% at $2,324.75 per ounce, as of 0148 GMT after rising more than 1% in the previous session. Fed Bank of New York President John Williams said on Monday that at some undefined point the U.S. central bank will lower its interest rate target. Lower rates increase the appeal of holding non-interest bearing gold.
Persons: that's, Matt Simpson, John Williams, Simpson, Israel, Heraeus Organizations: Co, U.S . Federal, Index, Fed Bank of New York, Investors, Hamas Locations: Bangkok, Thailand, Gaza, U.S, Palestinian, Rafah
Futures tied to major U.S. equity indexes are split between small gains and losses, while Treasury yields are inching down. Look out for any pushback against the notion, gripping the bond market, that the central bank will soon cut interest rates. November was the best month for the S&P 500 since July last year. They were volatile on Thursday, after Fed Bank of New York President John Williams said he thought it best to keep interest rates high for some time. In Hong Kong, the Hang Seng Index dropped more than 1.2% to close at its lowest in more than a year.
Persons: Jerome Powell, Powell, Dow, John Williams, Brent Organizations: Federal, Dow industrials, Nasdaq, Treasury, Fed Bank of New York Locations: Atlanta, Europe, Hong Kong
Futures edge lower ahead of big bank earnings
  + stars: | 2023-10-13 | by ( ) www.reuters.com   time to read: +3 min
SummaryCompanies Futures down: Dow 0.02%, S&P 0.11%, Nasdaq 0.25%Oct 13 (Reuters) - Futures tracking Wall Street's main stock indexes edged lower on Friday as investors looked ahead to earnings reports from big U.S. banks, while Treasury yields eased after a spike in the previous session. JPMorgan Chase (JPM.N), Wells Fargo (WFC.N) and Citigroup (C.N) are scheduled to report quarterly numbers before the opening bell. Asset manager BlackRock (BLK.N), health insurer UnitedHealth Group (UNH.N) and regional lender PNC Financial (PNC.N) are also slated to report earnings. Remarks from Fed Bank of Philadelphia President Patrick Harker, a voting member on the rate-setting Federal Open Market Committee (FOMC) this year, would also be on investors' radar during the day. On the data front, a preliminary estimate of the University of Michigan's October Consumer Sentiment Index is due at 10 a.m.
Persons: JPMorgan Chase, Rob Swanke, Patrick Harker, Susan Collins, Todd Vasos, Jeffery Owen, Shashwat Chauhan, Saumyadeb Organizations: Dow, Nasdaq, JPMorgan, Citigroup, BlackRock, UnitedHealth, PNC Financial, Commonwealth Financial Network, Fed Bank of New, Fed Bank of Philadelphia, Market, Federal Reserve Bank of Boston, Traders, Treasury, University of Michigan's, Dow e, Hamas, Thomson Locations: Wells Fargo, Fed Bank of New York, U.S, Israel, Gaza City, Bengaluru
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.
Gold dips as stronger dollar dampens appeal
  + stars: | 2023-04-03 | by ( ) www.reuters.com   time to read: +2 min
April 3 (Reuters) - Gold prices slipped on Monday as a sturdy dollar made the greenback-denominated metal less affordable for buyers holding other currencies. FUNDAMENTALS* Spot gold was down 0.3% at $1,962.36 per ounce, as of 0049 GMT. * The opportunity cost of holding non-yielding bullion rises when interest rates are increased to bring down inflation. * Markets see a 48.4% chance of the Fed hiking rates by a quarter point in May, according to the CME FedWatch tool. DATA/EVENTS (GMT)0145 China Caixin Mfg PMI Final0750 France S&P Global Mfg PMI0755 Germany S&P Global/BME Mfg PMI0800 EU S&P Global Mfg Final PMI0830 UK S&P GLBL/CIPS Mfg Final PMI1345 US S&P Global Mfg PMI Final1400 US ISM Manufacturing PMIReporting by Kavya Guduru in Bengaluru; editing by Uttaresh VenkateshwaranOur Standards: The Thomson Reuters Trust Principles.
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