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It’s also a sign of confidence from Fed officials that inflation has come under control just enough to comfortably dial back policy. Typically, in the lead-up to a Fed policy decision, Wall Street and economists are in alignment on what to expect. But investors’ wagers for a half-point cut ramped up on Monday; and as of Tuesday afternoon, federal funds futures contracts were pricing in a 63% chance of a jumbo rate cut, up from around 30% on Thursday, according to the CME Group. As inflation skyrocketed in 2021 and 2022, American employers pumped out jobs and the unemployment rate declined to half-century lows. The Fed eventually responded to the country’s inflation problem with its bitter medicine of high interest rates.
Persons: It’s, Christopher Waller, Elizabeth Warren, Robert Kaplan, Bill Dudley, , Powell, ” Gregory Daco, , ” Julia Hermann Organizations: Washington CNN, Federal Reserve, Street, CME, Fed, Democratic, Dallas Fed, CNBC, Former New York, Bloomberg, Dow, Labor, New York Life Investments, CNN
Gold is already near the top of the 2024 range of outcomes projected by BlackRock Investment Institute, for example. Emerging market central banks have about 6% of their FX reserves in gold, and developed markets have about 12%. "Weaponizing dollar-based systems, including SWIFT , has led to more people, more countries specifically — more sovereign wealth funds and central banks — not trusting dollar-based assets as much. ETF flows As central banks have been bidding up gold, smaller investors were selling for much of this year. The VanEck Merk Gold ETF (OUNZ) and the Abrdn Physical Gold Shares ETF (SGOL) are the other funds with at least $100 million in net inflows this year, according to FactSet.
Persons: there's, Robert Minter, Minter, SWIFT, Lauren Goodwin, we're, Chris Verrone Organizations: Federal, Nasdaq, BlackRock Investment Institute, Abrdn, World Gold Council, U.S ., FX, United, Russia, New York Life Investments, MiniShares, Federal Reserve Locations: U.S, Abrdn . Central, Central, United States, Ukraine
The Federal Reserve is widely expected to start cutting interest rates Wednesday afternoon. Those yields are expected to start coming down sharply as the Fed begins to ease back on generationally high rates. Adding some duration Duration refers to a bond's price sensitivity to changes in interest rates. A bond yield moves inversely to its price, so that when bond prices rise, yields decline. Though investors in the space may be concerned about prepayment risk, especially as interest rates come down and homeowners look to refinance, Cetera says that worry may already be priced in.
Persons: Kathy Jones, Tony Miano, Jones, Schwab's Jones, Gene Goldman, Goldman, James Shagawat, Shagawat Organizations: Federal Reserve, Treasury, Schwab Center, Financial Research, Wells, Wells Fargo Investment Institute, York Life Investments, Investment Management, Investors Locations: Wells Fargo, AdvicePeriod, Paramus , New Jersey
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPro Talks: Top strategist Lauren Goodwin on how to invest for the next decade from Future Proof 2024Lauren Goodwin, economist and portfolio strategist at New York Life Investments, joins CNBC's Dominic Chu from Future Proof 2024 to discuss what trends could be top of mind for investors over the next decade. She weighs in on the economic factors likely to shape the investing landscape, and how AI could play a role in investing. Goodwin also takes questions from CNBC Pro subscribers.
Persons: Lauren Goodwin, Dominic Chu, Goodwin Organizations: New York Life Investments, CNBC Pro
More than 4,000 people have descended here for the Future Proof conference , a vast social gathering designed to give younger registered investment advisors and other investment professionals access to what they want. What they want, apparently, is an intense desire to network with other RIAs and investment professionals and find ways to grow their business. Reimagining the financial conference Future Proof is the brainchild of Barry Ritholtz, co-founder, chairman, and chief investment officer of Ritholtz Wealth Management, and CEO Josh Brown. This is the third year for the conference, but Ritholtz and company have been doing conferences for 15 years. Ritholtz describes it as an ongoing project to reinvent the financial conference concept, which he says is "moribund."
Persons: Barry Ritholtz, Josh Brown, Ritholtz, Van Eck, Matt Middleton, Adarsh, Brett Rodgriguez, Delon Mansour, Mansour, Shyamsundar, Harris, Consulting's Brett Rodgriguez, Akash Shah, Shannon Saccocia, Raj Dhanda, Ares Management, John Christmas, RIAs, They'll, Mike Novogratz, Anna Paglia, Bryan Whalen, Saira Malik, Lauren Goodwin, Scott Wapner, DoubleLine Capital's Jeff Gundlach, CNBC's, Jan van Eck, Matt Hougan, DJ Mick, There's, Bob Pisani, Jon Maier, JP Morgan, Pisani, Jan Van Eck, Marlena Lee, That's Organizations: Ritholtz Wealth Management, JPMorgan Chase, Capital Group, Street Global Advisors, Funds, Polaris Capital Management, Graystone Consulting, Investments, Investment, Ares, HPS Investment Partners, Global, Life Investments, Bitwise, Management, Dimensional Fund Advisors Locations: HUNTINGTON BEACH, Calif, Los Angeles, Iowa, California, Huntington Beach, San Diego, Michigan, ETFEdge.cnbc.com
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThere's opportunity in the pullback from Goldman Sachs, says Odyssey’s Jason SnipeNew York Life Investments’ Lauren Goodwin and Odyssey’s Jason Snipe, join 'Closing Bell' to discuss Goldman Sachs moving away from the consumer business, the Fed's next moves and their market outlook.
Persons: Goldman Sachs, Jason Snipe, ’ Lauren Goodwin Organizations: Life
Traders work on the floor of the New York Stock Exchange during morning trading on September 04, 2024 in New York City. U.S. stock futures inched lower Wednesday night as investors brace for more inflation and labor data, following a volatile session spurred by the release of the August consumer price index. S&P 500 futures and Nasdaq 100 futures dipped 0.07% and 0.13%, respectively. Stocks dropped earlier in the day when August's consumer price index showed an uptick in core inflation, which excludes volatile food and energy prices. Wall Street is anticipating the release of the August producer price index on Thursday.
Persons: Stocks, Lauren Goodwin, CNBC's, — that's, Goodwin, Dow Jones, Kroger Organizations: New York Stock Exchange, Dow Jones Industrial, Nasdaq, Investors, Dow, Fed, New York Life Investments, Adobe Locations: New York City . U.S
Lauren Goodwin, economist and chief market strategist at New York Life Investments, told CNBC that winning stocks are unlikely to fit neatly within defensive sectors at this point in the economic cycle. Another thing for investors to consider is that some of the traditional defensive sectors have already been on an upswing. Meanwhile, the Consumer Staples Select Sector SPDR Fund (XLP) is up 9%, and Health Care Select Sector SPDR Fund (XLV) is up more than 6%. XLU mountain 2024-07-01 Defensive stocks like consumer staples have performed well in the third quarter. Instead of moving to defensive stocks, investors should focus on looking for ways to lock in higher yields in fixed income before the Federal Reserve begins cutting rates, said Goodwin.
Persons: Lauren Goodwin, Goodwin Organizations: New York Life Investments, CNBC, Consumer, Federal Reserve Locations: U.S
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC’s full interview with Charles Schwab's Liz Ann Sonders, New York Life Investments’ Lauren Goodwin and Hightower’s Stephanie LinkCharles Schwab's Liz Ann Sonders, New York Life Investments’ Lauren Goodwin and Hightower’s Stephanie Link, join 'Closing Bell' to discuss the markets, the Nasdaq dipping and cracks showing across the economy.
Persons: Charles Schwab's Liz Ann Sonders, ’ Lauren Goodwin, Hightower’s Stephanie Link Charles Schwab's Liz Ann Sonders, Hightower’s Stephanie Link Organizations: Charles Schwab's Liz Ann Sonders , New York Life, Hightower’s Stephanie Link Charles Schwab's Liz Ann Sonders , New York Life, Nasdaq Locations: Charles Schwab's Liz Ann Sonders , New York, Hightower’s Stephanie Link Charles Schwab's Liz Ann Sonders , New York
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC’s full interview with New York Life Investments' Lauren Goodwin, Truist’s Keith Lerner and Axonic’s Pete CecchiniNew York Life Investments' Lauren Goodwin, Truist’s Keith Lerner and Axonic’s Pete Cecchini, joins'Closing Bell' to discuss the market rotation, the tech trade and their market outlook.
Persons: Lauren Goodwin, Truist’s Keith Lerner, Axonic’s Pete Cecchini, joins'Closing Bell Organizations: New York Life Investments, York Life Investments Locations: York
U.S. stock futures inched higher Wednesday evening after the Nasdaq Composite 's worst session since 2022 amid investors' rotation out of big tech high-flyers. S&P 500 futures and Nasdaq 100 futures climbed 0.20% and 0.32%, respectively. The tech-heavy Nasdaq tumbled 2.8% in its worst day since December 2022, closing below 18,000 for the first time since July 1. "This is a market — a Fed pivot market — two, three months before we expect a cut, exactly as we'd expect to see it. "But the reality for the market is that we've already been in a soft landing for the next nine months.
Persons: Russell, Lauren Goodwin, Goodwin, Dow Jones, That's Organizations: New York Stock Exchange, Nasdaq, Dow Jones Industrial, Discover, Street Journal, Dow, New York Life Investments, Alaska Air, Netflix Locations: Pizza
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe economy will see a mild recession, says New York Life Investment’s Lauren GoodwinLauren Goodwin, New York Life Investments economist and chief market strategist, joins 'Squawk Box' to discuss the latest market trends, the Fed's inflation fight, state of the economy, rate path outlook, and more.
Persons: Investment’s Lauren Goodwin Lauren Goodwin Organizations: New York Life Investments Locations: New York
Though municipal bonds generally offer income that's free of federal income taxes – and state taxes if the investor resides in the issuing state – they also come with lower yields compared to other bonds. When it comes to muni bonds, the higher your tax bracket, the more valuable the tax-free income is. A tax-conscious approach to fixed income You don't have to bulk up on municipal bonds to get the best yield for your tax scenario. Municipal bonds are good contenders in taxable brokerage accounts, where investors can benefit from their tax-free income. Some fund families offer "tax-aware strategies" either in mutual funds or ETFs, which can include some exposure to municipal bonds, as well as equities.
Persons: Wells Fargo, aren't, Nisha Patel, That's, Collin Martin, Michael Carbone, it's, Beth Foos Organizations: Wells, Wells Fargo Investment Institute, Federal Reserve, SEC, Bond, Corporate Bond, York Life Investments, Schwab Center, Financial Research, Morningstar Locations: Wells Fargo, Chelmsford , Massachusetts
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe risk of an imminent slowdown isn't likely, New York Life Investments' Lauren GoodwinLauren Goodwin, New York Life Investments portfolio strategist, join 'Closing Bell' to discuss what to expect from the economic reports and the Fed this week.
Persons: Lauren Goodwin Lauren Goodwin Organizations: York Life Investments, New York Life Investments Locations: York, New York
Generating income with dividend stocks Dividend stocks have long been a staple of income investors' portfolios. Municipal bonds offer income that's free of federal tax, however. These names trade on exchanges like stocks, and they can offer dividend yields upward of 6%. Options strategies to create income Derivative income funds , such as the JPMorgan Equity Premium Income ETF (JEPI), gathered some $22 billion in 2023, according to Morningstar. Further, consider comparison shopping, as all "derivative income" funds have their own quirks and differences in strategies could affect their risk/return profile.
Persons: Janus Henderson, Walt Disney's, Amber Milam, Jefferies, It's, Savita Subramanian, Subramanian, Russell, Louis, Morningstar, Mike Mulach, Rick Rieder, he'd, Kathleen McNamara, there's, , Bill Gross, JEPI, Cash, Ashton Lawrence Organizations: Federal Reserve, Meta, Mobile, Bank of America, IBM, . Investment, Fitch, Credit, nab, ICE, Federal Reserve Bank of St, Louis Fed, UBS, UBS Wealth Management, York Life Investments, , JPMorgan, Mariner Wealth Advisors Locations: U.S, Greenville , South Carolina
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC’s full interview with New York Life Investment’s Lauren Goodwin and Invesco’s Brian LevittNew York Life Investment's Lauren Goodwin and Invesco's Brian Levitt join 'Closing Bell' to discuss the market mentality and sentiment.
Persons: Investment’s Lauren Goodwin, Brian Levitt, Investment's Lauren Goodwin Organizations: New York
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIt would be very difficult for the Fed to hike rates, says New York Life Investment's Lauren GoodwinNew York Life Investment's Lauren Goodwin and Invesco's Brian Levitt join 'Closing Bell' to discuss the market mentality and sentiment.
Persons: Investment's Lauren Goodwin, Brian Levitt Organizations: Fed, York
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe environment for the rally to continue is strong, says New York Life Investment's Lauren GoodwinYardeni's Eric Wallerstein and New York Life Investment's Lauren Goodwin join 'Closing Bell' to discuss earnings, Nvidia, and the outlook for the market rally.
Persons: Investment's Lauren Goodwin Yardeni's Eric Wallerstein, Investment's Lauren Goodwin Organizations: York, Nvidia
Loan loss reserves have perked back up in recent quarters and are at roughly 1.75% of loans outstanding, according to MRB Partners. If the economy only modestly slows, as many economists expect, new loan loss reserves could be smaller in the future. This situation comes as bank earnings were generally better than expected for the first quarter. Lauren Goodwin, chief market strategist and economist at New York Life Investments, agreed that a potential slowing or reversal of loan loss reserves would be positive for bank earnings but said she is cautious about bank profitability more broadly. To be sure, banks may need to increase their loan loss reserves if the economic outlook gets worse.
Persons: Banks, Bob Elliott, Salvatore Ruscitti, Ruscitti, Lauren Goodwin, Goodwin, they're, Unlimited's Elliott Organizations: MRB Partners, Funds, Bank, P Bank ETF, New York Life Investments Locations: Bridgewater, MRB
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEarnings to be a key driver of equities this year: Merrill's Marci McGregorLauren Goodwin, New York Life Investments economist, and Marci McGregor, senior investment strategist for the chief investment office at Merrill and Bank of America Private Bank, join 'Closing Bell' to discuss markets, the Fed, and the potential of the rally resuming.
Persons: Merrill's Marci McGregor Lauren Goodwin, Marci McGregor Organizations: New York Life Investments, Bank of America Private Bank Locations: New York, Merrill
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Solus Alternative's Dan Greenhaus and New York Life's Lauren GoodwinDan Greenhaus, Solus Alternative Asset Management, and Lauren Goodwin, New York Life Investments, join 'Closing Bell' to discuss the current caution towards markets, how the Fed's trajectory is impacting equity markets, and more.
Persons: Solus Alternative's Dan Greenhaus, Life's Lauren Goodwin Dan Greenhaus, Lauren Goodwin Organizations: Management, New York Life Investments Locations: New, New York
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEquity markets won't see sustained downturn until earnings fall, says New York Life's GoodwinDan Greenhaus, Solus Alternative Asset Management, and Lauren Goodwin, New York Life Investments, join 'Closing Bell' to discuss the current caution towards markets, how the Fed's trajectory is impacting equity markets, and more.
Persons: Life's Goodwin Dan Greenhaus, Lauren Goodwin Organizations: Equity, Management, New York Life Investments Locations: New, New York
U.S. stock futures were little changed Monday night after a losing day for the major benchmarks. S&P 500 futures and Nasdaq 100 futures flickered near the flatline. The 30-stock Dow dropped 248 points, or 0.65%, in its sixth straight losing day. Those losses follow a rise in yields that had investors shrugging off strong earnings from Goldman Sachs , as well as hot retail sales data. Big bank earnings are set to continue Tuesday, with the release of results from Bank of America, Johnson & Johnson and Morgan Stanley.
Persons: Dow, Goldman Sachs, we're, Lauren Goodwin, CNBC's, Johnson, Morgan Stanley Organizations: Dow Jones Industrial, Nasdaq, Treasury, Saturday, New York Life Investments, Bank of America, United Airlines, Traders Locations: Israel, U.S, UnitedHealth
Job creation in March easily topped expectations in a sign of continued acceleration for what has been a bustling and resilient labor market. The unemployment rate edged lower to 3.8%, as expected, even though the labor force participation rate moved higher to 62.7%, a gain of 0.2 percentage point from February. "This report and the February report showed some broadening in terms of job creation, which is a very good sign." Stocks have tumbled this week amid concerns that a strong labor market and resilient economy could keep the central bank on hold for longer than expected. Correction: The unemployment rate edged lower to 3.8%.
Persons: Nonfarm, Dow Jones, Lauren Goodwin, Jerome Powell Organizations: Dow, Labor Department's Bureau of Labor Statistics, Wall, Retail, New York Life Investments, Federal Reserve, Stock
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC’s full interview with Solus' Dan Greenhaus, New York Life Investments' Lauren Goodwin and Citi Global Wealth's Kristen BitterlyDan Greenhaus, Solus Alternative Asset Management chief strategist, Lauren Goodwin, New York Life Investments economist, and Kristen Bitterly, head of investment solutions at Citi Global Wealth, join 'Closing Bell,' to discuss the markets, economy, labor market, and the Fed's next moves.
Persons: Solus, Dan Greenhaus, Lauren Goodwin, Kristen Organizations: Dan Greenhaus , New York Life Investments, Citi Global, Asset Management, New York Life Investments, Citi Global Wealth Locations: Dan Greenhaus , New York, New York
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