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The interest rate outlook will come back into focus next week with key inflation data and Federal Reserve meeting minutes coming out ahead of Thanksgiving, as investors wrap up a major month for markets following President-elect Donald Trump's election victory. The October personal consumption expenditure (PCE) price index set to release Wednesday could dent already-dimming hopes for a December rate cut if it comes in hotter than expected. The inflation rate is expected to have increased 0.2% month over month and 2.3% year on year. Rosy expectations Even with the interest rate cut expectations coming in, investors are optimistic on the direction for stocks to close out the year and into 2025. Goldman Sachs' David Kostin this week said he expects the S & P 500 can end next year at 6,500.
Persons: Donald Trump's, , Luke O'Neill, Stocks, O'Neill, Goldman Sachs, David Kostin, Morgan Stanley's Mike Wilson, Brian Belski, Tom Hainlin, Jeff Cox Organizations: Federal Reserve, Alpha Fund, Nasdaq, Dow Jones, BMO, UBS, Bank Asset Management, Dell Technologies, Chicago, New, Richmond Fed, Devices, Autodesk, PCE Deflator, Chicago PMI Locations: U.S, Chicago
The Federal Reserve is set to meet Tuesday and Wednesday — and is is widely anticipated to make its first interest rate cut after embarking on a hiking campaign in March 2022. As it is, stocks are headed for a winning week ahead of the meeting. On Friday, the CME FedWatch tool showed markets were split how big the rate cut would be. Investors will also watch what Fed policymakers will signal in its summary of economy projections regarding future policy moves. He worries that stocks will rally heading into the central bank meeting, with investors possibly selling the news afterward.
Persons: It's, disinflation, Chadha, CNBC's, Dave Sekera, Giuseppe Sette, Sette, BTIG's Jonathan Krinsky, Morningstar's Sekera, Bank Asset Management Group's Bill Northey, Mills, homebuilder Organizations: Federal, Deutsche Bank, Dow Jones, Nasdaq, Morningstar, U.S, Bank Asset Management Group's, Olive, Darden, FedEx, Index, Retail, Manufacturing, Housing, Philadelphia Fed Locations: U.S, Olive Garden, NAHB
Stock investors are delusional if they expect a "no landing" scenario, PNC's Amanda Agati says. The Fed can't conquer inflation without triggering a recession, the bank's chief investor says. Agati points to the inverted yield curve as a warning sign that an economic downturn is looming. "The equity market is still delusional," PNC Asset Management Group's chief investor, Amanda Agati, told Yahoo Finance on Tuesday. It's "totally focused on no landing — the Fed is effectively pulling off mission impossible and getting inflation under control without tipping us into recession," she continued.
Persons: Amanda Agati, It's, Agati Organizations: Service, Federal Reserve, PNC, Management Group's, Yahoo Finance, Nasdaq Locations: Wall, Silicon
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email2023 has clearly had a better start than 2022, says Julius Baer CEOPhilipp Rickenbacher, CEO of Julius Baer, discusses the wealth management group's results for 2022, and says that was a year with an "incredibly challenging backdrop."
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