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☆ Stock futures rise as traders weigh Fed’s super-sized rate cut: Live updates
▼ + stars: | 2024-09-18 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +1 min

U.S. stock futures rose Wednesday night as traders digested the Federal Reserve's earlier decision to lower interest rates by a half percentage point. Dow Jones Industrial Average futures rose 100 points, or 0.2%. Futures tied to the S&P 500 and Nasdaq 100 climbed 0.4% and 0.5%, respectively. Both the S&P 500 and 30-stock Dow initially rallied to new record highs right after the Fed announced its interest rate cut decision. "The market was thinking to itself, if you go 50, another 50 has a high likelihood.

Persons: Tom Porcelli, that's, he's, Porcelli, homebuilder Lennar Organizations: New York Stock Exchange, Federal, Dow Jones Industrial, Nasdaq, Fed, Dow, Darden, FedEx, homebuilder, Traders Locations: U.S

☆ There's still a chance of no Fed cut, says Keith Fitz-Gerald
▼ + stars: | 2024-09-11 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThere's still a chance of no Fed cut, says Keith Fitz-GeraldFitz-Gerald Group’s Keith Fitz-Gerald and PGIM’s Tom Porcelli, join 'Power Lunch' to discuss the CPI report, the presidential debate and what it all means for the markets.

Persons: Keith Fitz, Gerald Fitz, Gerald Group’s Keith Fitz, Gerald, PGIM’s Tom Porcelli

☆ ‘The time has come’: The Fed just sent a crucial message about its next move
▼ + stars: | 2024-08-23 | by ( Bryan Mena | ) edition.cnn.com time to read: +7 min

And so does the broader US economy: Economic growth this year has been solid and the Atlanta Fed is projecting that growth hasn’t slipped. “The labor market is cooling, but it’s not getting soft. A slowing job market is also playing a role in nudging the Fed to ease borrowing costs. Translation: The recent weakness in the job market could result in American shoppers curbing their spending more than expected. A big question mark is the future of America’s job market, which is a key driver of the US economy.

Persons: Washington CNN —, “, Jerome Powell, ”, “ Powell, Seema Shah, hasn’t, ” Tom Porcelli, it’s, Powell, cooldown, ” Powell, aren’t, they’re, —, “ There’s, Elizabeth Renter Organizations: Washington CNN, Federal, Fed, Markets, Asset Management, Atlanta Fed, Treasury, CNN, Walmart, America’s Locations: Jackson Hole , Wyoming, nudging

☆ Wednesday's big CPI inflation report could mark a change in thinking for the Fed
▼ + stars: | 2024-08-13 | by ( Jeff Cox | ) www.cnbc.com time to read: +5 min

watch nowThe PPI report, seen as a gauge of wholesale inflation, showed prices up just 0.2% in July and about 2.2% from a year ago. Still, investors are looking for the Fed at its September meeting to start cutting interest rates, considering that inflation is weakening and so is the labor market. Another benign inflation report "makes the Fed completely comfortable that they can shift their focus away from inflation and toward labor," said Tom Porcelli, chief U.S. economist at PGIM Fixed Income. There are cracks forming in the labor market backdrop." "I'm as curious about [Wednesday's] inflation report as anyone else, but I think it would take a real outlier to change the Fed's tune from 1) shifting to labor as its focus, and 2) seriously thinking about cutting in September," Porcelli said.

Persons: Jim Baird, Plante, Baird, Dow Jones, there's, Tom Porcelli, Porcelli Organizations: Walmart, Labor Department, Federal Reserve, Financial Advisors, PPI, Fed, Traders

☆ For Brittney Griner, a gold-medal Olympic run brings a gratitude for freedom
▼ + stars: | 2024-08-11 | by ( Chantel Jennings | ) www.nytimes.com time to read: +4 min

PARIS — Brittney Griner knew she would get emotional, but didn’t think it would be like this. “And then to be here and win gold for my country, representing when my country fought for me so hard for me to even be standing here. Advertisement“It’s a great day,” Griner said Aug. 1, the same day her team picked up its second Olympics win. She’s so thankful to be here.”Throughout her time in France, Griner consistently brought up her gratitude for returning to her teammates and to the game she loves. “And I was able to bring back gold for my country.”(Photo of Brittney Griner: Daniela Porcelli / Eurasia Sport Images / Getty Images)

Persons: Brittney Griner, Griner, “, mpic qu Organizations: PARIS, United, France, Bercy Arena, Griner, ev e Locations: United States

☆ The Olympics have been a coronation for USWNT’s Naomi Girma and her defensive work
▼ + stars: | 2024-08-09 | by ( Meg Linehan | ) www.nytimes.com time to read: +7 min

PARIS — Last summer, Naomi Girma introduced herself to the world at the 2023 Women’s World Cup in Australia and New Zealand. She was the only field player to play every minute of last summer’s World Cup, too. — Sydney Leroux (@sydneyleroux) August 7, 2024Girma has deflected jokes about being named Secretary of Defense and questions about last year’s World Cup exit. “Last year, a lot of us were transitioning in, and now we’ve been on the national team,” Girma said in Lyon. Born a year after the 1999 World Cup, Girma has been following in the footsteps of quiet center-back leaders from Carla Overbeck to Becky Sauerbrunn, while forging her path.

Persons: Naomi Girma, Girma’s, —, They’re, “, I’ve, Emma Hayes, Hayes, Girma, “ She’s, Sophia Smith, Smith, ” Naomi Girma, Sydney Leroux, @sydneyleroux, ” Girma, “ We’ve, it’s, Carla Overbeck, Becky Sauerbrunn, Megan Rapinoe, ” Rapinoe, She’s, Daniela Porcelli, Mallory Swanson, Trinity Rodman, Jeff Rueter, Rodman, Swanson, Sauerbrunn, Alyssa Naeher, Becky, Lindsey Horan, It’s, Katie Meyer, San Diego —, ” Naeher, she’s, ” Rodman, “ It’s, John Todd, Dan Goldfarb Organizations: PARIS, Paris, Germany, Stanford, Defense, Getty, Ethiopian, Golden Boot Academy, San Diego Wave, Brazil Locations: Australia, New Zealand, France, ” U.S, Lyon, Tokyo, Girma, San Diego, Paris

☆ USWNT 1 Japan 0: Trinity Rodman’s extra-time goal lifts a tired U.S. team to the Olympic semifinals
▼ + stars: | 2024-08-03 | by ( Steph Yang | Jeff Rueter | ) www.nytimes.com time to read: +10 min

The trio who had been so dominant in the group stage slowed in the knockout round opener. Sure, but Japan is also a very clinical team, able to cede possession and attack when they can create chances. Rodman’s extra-time goal keeps USWNT Olympic hopes aliveComing into the Olympics, Rodman’s role with the USWNT had largely been one of a creator. Throughout the group stage, few teams had as well-rounded a line anywhere on a field as the United States’ attack. AdvertisementThroughout the group stage, three teams stood out in underlying metrics: the United States, Japan, and Spain.

Persons: Trinity Rodman, Emma Hayes ’, Rodman, Mallory Swanson, Sophia Smith, ” Hayes, Lynn Williams, Jeff Rueter, Steph Yang, Swanson, Smith, TRINITY RODMAN, w., S. Organizations: women’s, Swanson, Paris Games, U.S, Japan, EADS Locations: Japan, U.S, United States

☆ Who is Stephen Nedoroscik? The quirky stories of Team USA’s Olympic pommel horse hero
▼ + stars: | 2024-08-02 | by ( Audrey Snyder | ) www.nytimes.com time to read: +14 min

The kids that like doing that boring part are just not your typical kid.”Memes of Nedoroscik sitting and waiting 2-plus hours to compete went viral this week, while phrases like Pommel Horse Guy, America’s Pommel Horse Hero and the Clark Kent of Pommel Horse spread across the Internet. But when it was time to hop on the pommel horse, he delivered an #Olympics moment. This week, The Athletic spoke with some of Nedoroscik’s former teammates, coaches and supporters to hear their best stories of America’s Mr. Pommel Horse. “That’s Stephen. (Matt Marton / USA Today)Taking away the Rubik’s CubeNedoroscik was obsessive and passionate about learning pommel horse.

Persons: Matt Carbone, Carbone, that’s, Stephen, ”, he’s, Stephen Nedoroscik, haven’t, ” Carbone, “ We’re, Nedoroscik, Liz Gonzalez, Bob, it’s, Liz, Bob —, —, Bob Gonzalez, “ They’re, Guy, Clark Kent, Ben Cooperman, ” Cooperman, “, USA's Stephen Nedoroscik, 6vRNnUXhF2, America’s, Michael Meagher, Meagher, Steve, …, ” Meagher, ’, he’ll, ’ ” Meagher, “ That’s Stephen, “ He’s, Kareem Abdul, Jabbar, Cooperman, Matt Marton, Bryan Perla, ” Nedoroscik, “ He’d, Ian Skirkey, “ I’ve, Brennan Pantazis, Pantazis hadn’t, Pantazis, ‘ Brennan, ” Pantazis, Penn, Jack Baldwin, ” Baldwin, “ Stephen, Baldwin, ” Sam Davis, Davis, ” Davis, ” Said Baldwin, “ That’s, Daniela Porcelli Organizations: Sterling Gym, Paris Olympics, U.S, Penn State, Sterling, University of Massachusetts, ’ Worcester Technical High, Engineering, Worcester Tech, Junior, Worcester, NBA, NCAA, Stanford, Penn, Team USA, Rocket, XBox, Rocket League Locations: Sterling ,, Worcester, Paris, USA, Las Vegas, Vegas, Penn State, Eurasia

☆ Stephen Nedoroscik beat the odds to earn an Olympic moment, and then he nailed it
▼ + stars: | 2024-07-29 | by ( Dana O'Neil | ) www.nytimes.com time to read: +7 min

Advertisement“But I don’t need to see when I do pommel horse,” Nedoroscik said, a bronze medal draped around his neck and a grin spread across his face. The result: a 14.866 score that secured bronze for Team USA, its first team medal in gymnastics since 2008. “It was Penn State squirrels in the Penn State parking garage,” Jepson said with a laugh. Nedoroscik had come to State College to check out Penn State and its facilities but never told Jepson he was coming. He did it at Penn State, where he eventually won two national titles, and he does it now, on the senior circuit.

Persons: Stephen Nedoroscik, Priestly, “, Wears, ”, Nedoroscik, ” Nedoroscik, Randy Jepson, Nedoroscik hadn’t, ” Jepson, Jepson, he’s, Stephen, Daniela Porcelli, —, Frederick Richard, Paul Juda, Brody Malone, ‘, Jordan Chiles, James Long Organizations: Team USA, Penn State, Jepson, State College, USA, COVID, U.S, United Locations: Paris, Penn State, Tokyo, Eurasia, United States, USA

☆ The deck is cleared for Fed to cut rates, says PGIM's Tom Porcelli
▼ + stars: | 2024-07-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe deck is cleared for Fed to cut rates, says PGIM's Tom PorcelliTom Procelli, PGIM chief U.S. economist, joins CNBC's 'The Exchange' to discuss economic outlooks and expectations for Fed moves.

Persons: Tom Porcelli Tom Procelli Organizations: Fed

☆ Why Jay Powell really wants to lower interest rates this September
▼ + stars: | 2024-05-20 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +9 min

It’s interesting to me that the equity market is cheering the idea that the Fed is going to be cutting rates. There tends to be a fine line between cutting rates and extending the economic cycle or cutting rates because the cycle is coming to an end (and the economy is softening). When the Fed is cutting rates, it’s cutting rates because a recession is about to happen, right? That’s why I say there’s a fine line between the Fed cutting to extend the cycle and the Fed cutting because a recession is about to happen. The Fed has been in this precarious space where they’re trying to avoid recession while lowering interest rates.

Persons: Dow, stoking, Bell, Tom Porcelli, Jerome Powell, Jay Powell, they’re, that’s, Donald, Goofy, Eva Rothenberg, Mickey Mouse, Snow White, Captain Hook, ”, Kate Shindle, “, Uber, Lyft, Jamie Long, Read Organizations: CNN Business, Bell, New York CNN — Markets, Federal Reserve, Fed, ’ Equity Association, Equity, National Labor Relations Board, Disneyland, Disney, ’ Equity, Walt Disney Company, Uber, Democratic, Minneapolis City Council Locations: New York, Anaheim , California, Minnesota, Minneapolis

☆ Watch CNBC's full interview with PGIM's Tom Porcelli and Jefferies' David Zervos
▼ + stars: | 2023-10-04 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with PGIM's Tom Porcelli and Jefferies' David ZervosTom Porcelli, chief U.S. economist at PGIM Fixed Income, and David Zervos, chief market strategist at Jefferies, along with CNBC's Steve Liesman, join 'The Exchange' to discuss the market reaction to today's weaker-than-expected ADP report, international fiscal policy compared to the U.S., and whether or not a soft landing is still possible.

Persons: PGIM's Tom Porcelli, Jefferies, David Zervos Tom Porcelli, David Zervos, Steve Liesman Organizations: Jefferies Locations: U.S

☆ Consumer savings is trending down, but a soft landing is still possible, says PGIM's Tom Porcelli
▼ + stars: | 2023-10-04 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailConsumer savings is trending down, but a soft landing is still possible, says PGIM's Tom PorcelliTom Porcelli, chief U.S. economist at PGIM Fixed Income, and David Zervos, chief market strategist at Jefferies, along with CNBC's Steve Liesman, join 'The Exchange' to discuss the market reaction to today's weaker-than-expected ADP report, international fiscal policy compared to the U.S., and whether or not a soft landing is still possible.

Persons: Tom Porcelli Tom Porcelli, David Zervos, Steve Liesman Organizations: Jefferies Locations: U.S

☆ Australia Women's World Cup: After Barbie, the Matildas became the new heroes in cleats
▼ + stars: | 2023-08-10 | by ( Hilary Whiteman | ) edition.cnn.com time to read: +9 min

But now, seemingly in the blink of an eye, we’re all wearing green and gold for our newest heroes, Australia’s Women’s World Cup hopefuls, the Matildas. Sam Kerr takes the ball during a FIFA World Cup 2023 round of 16 match between Australia and Denmark at Stadium Australia on August 7. “A lot of people just frankly don’t want to believe women’s sport is doing well,” Lassey told CNN. Football Australia said part of the rationale for bringing the Women’s World Cup to Australia was to use it to grow the women’s game – backed by a 357 million Australian dollar ($232 million) FIFA legacy fund. Argus says the World Cup is a turning point for women’s sport because the turnout and viewing numbers have proven that there’s an enthusiastic audience.

Persons: Barbie, Margot Robbie, Greta Gerwig, Australia’s, they’ve, Sam Kerr, Mary Fowler, Caitlin Foord, Hayley Raso, Daniela Porcelli, “, ”, Jackie Schougaard, Alfred Hotel, “ Everyone’s, It’s, Jason Lassey, –, ” Lassey, Matildas, —, “ I’m, Hannah Mckay, Bruce McAvaney, I’m, Maddie Meyer, Kevin Argus, ” Argus, we’ve, Lassey, We’re, Robbie, Gerwig, Barbie ”, ” Gerwig Organizations: Australia CNN, Neighbours, Hollywood, Chelsea, FIFA, Stadium Australia, France, Brisbane, Caxton, Footy Industry, –, AFL, Australian Football League, CNN, Denmark, Sydney, Football Australia, team, Royal Melbourne Institute of Technology, RMIT, Socceroos, ”, “, Australian Broadcasting Corporation Locations: Brisbane, Australia, Denmark, Melbourne

☆ January CPI accelerates, but trend easing
▼ + stars: | 2023-02-14 | by ( ) www.reuters.com time to read: +9 min

Data for December was revised higher to show the CPI gaining 0.1% instead of the 0.1% fall as previously reported. “It's not going to necessarily influence the Federal Reserve one way or another. "You have a little bit of a negative reaction because these numbers are not going to take the pressure off the Federal Reserve. "The real issue is what is the Federal Reserve going to do, it's pretty widely expected that they're going to raise rates both at their March meeting as well as their May meeting. "There's not much there for the Federal Reserve to give them some sort of a justification for taking their foot off the brake and reducing interest rates."

☆ Here's everything the Fed is expected to do Wednesday
▼ + stars: | 2023-02-01 | by ( Jeff Cox | ) www.cnbc.com time to read: +4 min

Federal Reserve Board Chairman Jerome Powell holds a news conference following the announcement that the Federal Reserve raised interest rates by half a percentage point, at the Federal Reserve Building in Washington, U.S., December 14, 2022. Evelyn Hockstein | ReutersThis week's Federal Reserve meeting will be remembered more for what policymakers say than what they do. Fed projections released in December indicate no cuts this year and continued rate hikes. That will take the fed funds rate to a target range of 4.5%-4.75%, the highest since October 2007. Though some Fed officials, such as St. Louis Fed President James Bullard, have suggested the rate hike could be half a point, there's virtually no chance of that happening.

☆ The Fed's inflation forecast was wrong and Powell shouldn't be trying to water down recession risks, according to RBC
▼ + stars: | 2022-12-15 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +4 min

The Fed was wrong again on its inflation forecast on Wednesday, according to RBC. Powell also shouldn't try to water down recession risks, since some Fed officials already see a recession in the cards. "Some of their economic projections are just head-scratchers," Porcelli said in a note on Wednesday, pointing to central bankers' inflation projections for next year. The unexpected revision in inflation projections could be because officials likely submitted their estimates before the release of the November Consumer Price Index report, which saw inflation cool to 7.7%. "He shouldn't try to water down the recession risks.

☆ Here's everything the Federal Reserve is expected to do Wednesday
▼ + stars: | 2022-12-14 | by ( Jeff Cox | ) www.cnbc.com time to read: +5 min

U.S. Federal Reserve Board Chairman Jerome Powell holds a news conference after Federal Reserve raised its target interest rate by three-quarters of a percentage point in Washington, September 21, 2022. Kevin Lamarque | ReutersCall it a sign of the times where a half percentage point interest rate increase from the Federal Reserve is considered looser monetary policy. In 2022, they've done it five times — four times for three-quarters of a point and once for a half percentage point — with Wednesday's widely anticipated 0.5 percentage point move to be the sixth. Wednesday's meeting of the rate-setting Federal Open Market Committee will bring an assortment of moves to chew on. The 'dot plot' and the 'terminal rate'That "terminal rate" of which Masotti spoke references the expected end point for the Fed and its current rate-hiking cycle.

☆ U.S. payrolls surged by 261,000 in October, better than expected as hiring remains strong
▼ + stars: | 2022-11-04 | by ( Jeff Cox | ) www.cnbc.com time to read: +5 min

Although the number was better than expected, it still marked the slowest pace of job gains since December 2020. Nonfarm payrolls grew by 261,000 for the month while the unemployment rate moved higher to 3.7%, the Labor Department reported Friday. Those payroll numbers were better than the Dow Jones estimate for 205,000 more jobs, but worse than the 3.5% estimate for the unemployment rate. Traders expect the Fed to enact another .5 percentage point increase in February. The unemployment rate rose 0.2 percentage point even though the labor force participation rate declined by one-tenth of a point to 62.2%.

☆ U.S. Fed could easily raise interest rates by another 75 basis points in December, says economist
▼ + stars: | 2022-10-14 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailU.S. Fed could easily raise interest rates by another 75 basis points in December, says economistTom Porcelli of RBC Capital Markets says he does not believe that having three additional 75 basis point hikes is going to "quell near-term inflationary dynamics."

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