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☆ Why the Fed won't cut rates until December, according to Bank of America
▼ + stars: | 2024-07-26 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +1 min

The Federal Reserve will wait until December to cut interest rates, Bank of America economists say. The forecast runs counter to consensus, with 90% of investors expecting a first cut in September. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementIn a Thursday research note, Bank of America reiterated its prediction for rate cuts to begin in December, even with a majority of investors expecting one in September. Meanwhile, 90% of investors expect a cut in September, according to the CME FedWatch tool.

Persons: BofA, — Organizations: Federal, Bank of America, Service, Business

☆ This bank cut the 5.25% yield on its 1-year CD. Where to find compelling rates
▼ + stars: | 2024-07-26 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +1 min

Bread Financial , once home of the 5.25% yield on a 1-year certificate of deposit, has dialed back its rate. The financial institution recently dialed back its annual percentage yield for its 1-year CD to 5.15%. See below for current APYs on select high-yielding 1-year CDs. Popular Direct has a 1-year CD with an APY of 5.2%, while Goldman Sachs ' Marcus and Sallie Mae still offer APY of 5.15% on their instruments. BMO Alto's 1-year CD weighs in at an APY of 5.05%.

Persons: Vincent Caintic, Banks, Goldman Sachs, Marcus, Sallie Mae Organizations: Federal, BMO

☆ We're again trimming a red-hot Fed rate cut stock and signaling another portfolio move
▼ + stars: | 2024-07-26 | by ( Zev Fima | ) www.cnbc.com time to read: +3 min

Shares of Stanley Black & Decker were on the move again Friday, adding another 7%, following the morning release of the Federal Reserve's favorite inflation gauge. We've said all along that Stanley Black & Decker would benefit from lower borrowing costs. Stanley Black & Decker brands, which also include Dewalt and Craftsman, are needed for that kind of work. Stanley Black & Decker trim SWK YTD mountain Stanley Black & Decker YTD With Stanley Black & Decker set to deliver earnings Tuesday and its stock now up more than 10% this week, the bar for a strong quarterly print is that much higher. That's why we're leaving a nice-sized chunk of Stanley Black & Decker shares in our portfolio going into the report.

Persons: Stanley Black, Decker, Jim Cramer's, We've, We're, we're, Jim Cramer, Jim Organizations: Stanley, CNBC

☆ Former Fed Vice Chair Roger Ferguson on June PCE and rate cut timeline
▼ + stars: | 2024-07-26 | 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 EmailFormer Fed Vice Chair Roger Ferguson on June PCE and rate cut timelineFormer Federal Reserve Vice Chair Roger Ferguson discusses his expectations for June PCE, inflation, and rate cuts.

Persons: Roger Ferguson Organizations: Former, PCE, Federal

☆ I've visited dozens of all-inclusive resorts, but there's one in Mexico I can't wait to return to
▼ + stars: | 2024-07-26 | by ( Simone Paget | ) www.businessinsider.com time to read: +5 min

Read previewWhen it comes to all-inclusive vacations, I've seen it all — from mega resorts the size of small cities to sex-themed hotels where clothing is optional. Simone PagetAs someone who prefers quirky boutique hotels, the decor at all-inclusive resorts can often feel bland. Simone PagetThe resort offers things I've never seen anywhere else, like rooftop pickleball courts that glow in the dark at night. AdvertisementPlus, whether you're at the pickleball court or the pool, you're never far from your next margarita — it's always 5 o'clock somewhere. It's one of the best all-inclusive resort experiences I've had in years.

Persons: —, I've, I'm, Jimmy Buffett, Simone Paget, Margaritaville, Simone Paget Margaritaville, Lola's, that's, Simone Paget I, Joe Merchant's, margarita — it's, margarita Organizations: Service, Business Locations: Cancún, Mexico, Margaritaville, margaritas, —

☆ Stock market today: Indexes rebound as inflation data reinforces Fed rate-cut bets
▼ + stars: | 2024-07-26 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementUS stocks rose Friday morning, regaining momentum after three days of losses. Instead, investors indicated 87.7% odds of a 25-basis point cut, and 11.9% odds of a 50-basis point cut. This week, creeping doubt in large-cap tech stocks rally spurred investors to rotate out of the sector, pulling both indexes down 3.67% and 2.6% through the past week, respectively.

Persons: —, Fitch, Olu Sonola Organizations: Nasdaq, Service, PCE, Federal, Treasury Locations: Here's

☆ Cryptocurrencies rebound with risk assets, but ether still lower for the week
▼ + stars: | 2024-07-26 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +1 min

In this article ETH.CM=BTC.CM= Follow your favorite stocks CREATE FREE ACCOUNTDado Ruvic | ReutersCrypto prices rose on Friday following two down days in which investors rotated out of risk assets. Bitcoin was last higher by 4.5% at $67,720.83, according to Coin Metrics, and ether advanced 4% to $3,248.25. In equities, the tech-heavy Nasdaq Composite and the broad-market S&P 500 — which suffered their worst single trading day since 2022 this week — rallied. Many expect favorable crypto comments from Trump — who in recent weeks has painted himself as the pro-crypto candidate in this year's election — could boost prices in coming days. Still, bitcoin is little changed for the week, while ether is on pace to end the week with an 8% loss.

Persons: Dado Ruvic, Bitcoin, —, MicroStrategy, Donald Trump, Trump Organizations: Reuters, Metrics, Nasdaq, Federal, Bitcoin Conference, Trump — Locations: Nashville

Chuo Ward, Tokyo, Japan - February 23, 2018; Top luxury shopping streets with multi colored neon signs. For the first half of the year, luxury group LVMH this week reported " exceptional growth in Japan arising in particular from purchases made by Chinese travelers." SHANGHAI — Luxury brands are seeing a surge in sales in Japan, largely driven by purchases from Chinese travelers taking advantage of a weak yen, according to earnings results this month. The income segment covers families in mainland China earning at least 30,000 yuan a month ($4,140, or about $50,000 a year). besides Hong Kong, across most luxury brands."

Persons: Yves, Yves Saint Laurent, Trip.com, Xiao Hong Shu, netizen, Oliver Wyman, Louis Organizations: Yves Saint, Burberry, U.S, Federal Reserve, Bank of Japan, South, Japan National Tourism Organization, CNBC Locations: Chuo Ward, Tokyo, Japan, Ginza, China, Southeast Asia, SHANGHAI, South Korea, Weibo, Sapporo, Hong Kong, Malaysia, France, Asia

☆ Inflation is inching closer toward the Fed’s 2% target
▼ + stars: | 2024-07-26 | by ( Alicia Wallace | ) edition.cnn.com time to read: +1 min

CNN —Yet another favorable piece of economic data shows that price hikes are slowing and that long-unruly inflation appears to be tamed. On a monthly basis, the price index increased by 0.1%, also landing in line with expectations. Falling energy prices, which dropped 2.1% from May, continued to help put a damper on overall inflation in June, as did goods prices, which dropped 0.2%. Food and services inflation increased just 0.1% and 0.2%, respectively, for the month. Taking inflation out of the equation, real spending was still up for the month, rising 0.2%.

Organizations: CNN, Federal Reserve, Commerce Department, Commerce

☆ Fed’s key inflation gauge rose 2.5% in June from a year ago, in line with expectations
▼ + stars: | 2024-07-26 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Fed officials use the PCE measure as their main baseline to gauge inflation, which continues to run above the central bank's 2% long-range target. An important gauge for the Federal Reserve showed inflation eased slightly from a year ago in June, helping to open the way for a widely anticipated September interest rate cut. Core inflation, which excludes food and energy, showed a monthly increase of 0.2% and 2.6% on the year, both also in line with expectations. Goods prices fell 0.2% on the month, while services increased 0.2%. The report also indicated that personal income rose just 0.2%, below the 0.4% estimate.

Persons: Dow Jones Organizations: Commerce Department, Federal Reserve, Fed

☆ Gold firms ahead of U.S. inflation data, but set for weekly loss
▼ + stars: | 2024-07-26 | by ( ) www.cnbc.com time to read: +2 min

Gold bars and gold coins of different sizes lie in a safe on a table at the precious metal dealer Pro Aurum. Gold was on track for a weekly loss, even as prices firmed on Friday ahead of a key U.S. inflation reading that could offer more cues on when the Federal Reserve will cut interest rates. "Last week, prices scaled record highs on bets of a September U.S. rate cut. The U.S. personal consumption expenditure data for June — the Federal Reserve's favored measure of inflation — is due at 1230 GMT. Meanwhile, India's demand for gold is likely to rise while moving into the fourth quarter, which is traditionally a robust seasonal period for gold demand," ANZ's Kumari said.

Persons: Gold, Soni Kumari, Sugandha Sachdeva, ANZ's Kumari Organizations: Aurum, Federal Reserve, ANZ, SS, U.S ., Hong Kong Locations: U.S, New Delhi, China, Hong

☆ Stock market today: Dow soars 654 points as traders celebrate inflation data
▼ + stars: | 2024-07-26 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Encouraging inflation data stoked optimism that the Federal Reserve can cut interest rates in September. That changed Friday, as encouraging inflation data injected new life into the rally. Advertisement"Next week we expect [Fed Chair Jerome] Powell to set the table for future rate cuts, speaking confidently about progress bringing inflation down. According to the CME FedWatch Tool, the market no longer expects the Federal Reserve to keep rates steady in September. The market also forecasts high chances that the Fed will slash rates by up to 75 basis points through December.

Persons: Russell, —, Jerome, Powell, David Donabedian, Chris Zaccarelli, Dexcom Organizations: Federal, Service, PCE, CIBC Private Wealth, Reserve, Independent, Alliance Locations: Here's, –

☆ The stock market is gearing up for its rate cut era
▼ + stars: | 2024-07-26 | by ( Krystal Hur | ) edition.cnn.com time to read: +4 min

Data Thursday showed the economy expanded at a robust 2.8% annualized rate during the second quarter, blowing past economists’ expectations. While the Fed has penciled in just one rate cut for this year, traders are betting on up to three, according to the CME FedWatch Tool. While the market was broadly higher on Friday, the S&P 500 and Nasdaq on Wednesday logged their worst daily performances since 2022. Shares of smaller companies tend to perform poorly when rates are high, since they have more floating rate debt than their larger counterparts. Investors are also picking at other areas of the market poised to gain when rates come down.

Persons: —, Dow, Russell, Stephen Lee Organizations: New, New York CNN, Federal Reserve, Big Tech, Nasdaq, MRB Partners, YouTube, Logan Capital Locations: New York

☆ Oil edges up on strong U.S. GDP data but Asia economic woes limit gains
▼ + stars: | 2024-07-26 | by ( ) www.cnbc.com time to read: +2 min

Oil prices were up slightly on Friday on stronger-than-expected U.S. economic data that raised investor expectations for increasing crude oil demand from the world's largest energy consumer. But concerns about soft economic conditions in Asia's biggest economies, China and Japan, capped gains. At the same time, inflation pressures eased, which kept intact expectations that the Federal Reserve would move forward with a September interest rate cut. Lower interest rates tend to boost economic activity, which can spur oil demand. Still, continued signs of trouble in parts of Asia limited oil price gains.

Organizations: Brent, . West Texas, Commerce Department, Reuters, Federal Reserve Locations: Fort Stockton , Texas, China, Japan, U.S, Asia

☆ A $1 million starter home is now the norm in more than 200 US cities
▼ + stars: | 2024-07-26 | by ( Samantha Delouya | ) edition.cnn.com time to read: +4 min

A Thursday report from Zillow indicates that a typical starter home is now worth $1 million or more in 237 cities, up from 84 cities in 2019, underscoring America’s ongoing home affordability crisis. “We see the largest number of million-dollar starter homes in expensive coastal markets. To further complicate things for first-time buyers, the value of starter homes has grown at a faster pace than the average home. According to Zillow, starter home values have grown 54.1% over the past five years, while the average US home has increased by 49.1%. The nationwide average price tag for a starter home is $196,611, according to Zillow.

Persons: underscoring, ” Orphe, “, It’s, homebuyer, Zillow, Jeffrey Jenkins, Divounguy, “ That’s, ”, Lawrence Yun Organizations: CNN, Gallup, National Association of Realtors, University of Southern Locations: Zillow, California , New York, New Jersey, University of Southern California, United States

☆ Yen heads for strongest week in 3 months as carry trades unwind
▼ + stars: | 2024-07-26 | by ( ) www.cnbc.com time to read: +3 min

The yen was poised for its strongest week in nearly three months on Friday as traders unwound their long-held bets against the frail currency ahead of crucial U.S. inflation data that could cement rate cut expectations. The yen was poised for its strongest week in nearly three months on Friday as traders unwound their long-held bets against the frail currency ahead of crucial U.S. inflation data that could cement rate cut expectations. The euro was a tad stronger at $1.0853 but is down 0.35% for the week, its steepest weekly decline since early June. The souring risk sentiment this week has weighed heavily on the Aussie and the New Zealand dollar . The Aussie is down 2% for the week, its worst weekly performance since November 2023.

Persons: James Athey, Ben Bennett, they're Organizations: Marlborough Investment Management, Federal, Fed, Traders, Bank of Japan, Legal, General Investment Management, New Zealand Locations: Tokyo, Asia, Pacific

☆ 10 things to watch in the stock market Friday after a tumultuous week
▼ + stars: | 2024-07-26 | by ( Jeff Marks | ) www.cnbc.com time to read: +3 min

The data didn't sway the market odds on the Fed cutting interest rates three times this year, starting in September. The industrial conglomerate raised its full-year outlook. Two of the Club's industrial names, Honeywell and Dover , reported earnings this week with mixed fortunes for their stocks. Dexcom shares plunged more than 35% after the medical device company missed on revenue and cut its full-year outlook. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Bristol Myers, Abbott, Skechers, Lockheed Martin, L3Harris, Japan's Eisai, Eli Lilly, Jim Cramer's, Jim Cramer, Jim Organizations: Nasdaq, Federal, Transportation, Electronics, Honeywell, Colgate, Palmolive, Abbott Laboratories, Libre, Deutsche Bank, Lockheed, EU, Novo Nordisk, Jim Cramer's Charitable, CNBC Locations: Dover

☆ Fed’s Preferred Inflation Number Cooled Overall in June
▼ + stars: | 2024-07-26 | by ( Jeanna Smialek | ) www.nytimes.com time to read: 1 min

The Federal Reserve's preferred inflation measure continued to gradually cool overall in June even as a “core” inflation measure held steady, likely keeping the central bank on track for a rate cut later this year without stoking any urgency for a reduction at its meeting next week. A “core” price measure that strips out food and fuel costs for a better sense of the underlying inflation trend proved more stubborn. Yearly core inflation was 2.6 percent, matching its reading in May. And on a monthly basis, both measures of inflation climbed modestly. Overall, the report served as a reminder that inflation is substantially lower than it was at its 2022 peak, but is not yet entirely vanquished.

☆ Defining a buyer's market 'is always a bit tricky,' real estate expert says: 4 signs to monitor
▼ + stars: | 2024-07-26 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +4 min

Despite those headwinds, some indicators show the housing market is shifting away from a seller's market. That doesn't mean it's a buyer's market — yet: "The term buyer's market is always a bit tricky to work with," said Chen Zhao, the economic research lead at Redfin, an online real estate brokerage firm. There are "rules of thumb" to define a buyer's market, like having more than four months of supply, she said. "We're still nationwide somewhat in a seller's market, not a buyer's market yet," he said. Here are four signs that can help you recognize if the housing market in your area is more in buyers' favor: 1.

Persons: Freddie Mac, Chen Zhao, Zhao, they're, We're, Daryl Fairweather, Redfin, Julie Zubiate, Selma Hepp, Sellers Organizations: National Association of Realtors, NAR, Federal, Zillow, CNBC, Finance, Sdi, San Francisco Bay Area Locations: U.S, Redfin, San Francisco Bay

☆ Markets now pricing in three rate cuts before the end of the year following better inflation news
▼ + stars: | 2024-07-26 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Improving news on inflation again has raised investors' hopes that the Federal Reserve soon will start to aggressively lower interest rates. Futures market pricing now indicates that while the Fed will remain on hold at next week's policy meeting, it will commence cutting in September and move again in November and December. The market-implied probability for a September cut nudged up to about 90% Friday morning, according to the CME Group's FedWatch Tool that measures fed funds futures pricing. Traders in early 2024 were pricing in at least six cuts this year, but the central bank's rate-setting group has remained on hold for a year. Following the two-day meeting that concludes next Wednesday, the Fed meeting schedule is empty for August, save for the all-important annual conclave in Jackson Hole, Wyoming.

Persons: Joseph Brusuelas, —, Jerome Powell, Christopher Waller Organizations: Federal Reserve, Friday's Commerce Department, RSM, Traders, Federal Open, Fed Locations: Jackson Hole , Wyoming

☆ Apple and Microsoft are among the 'Magnificent Seven' stocks set to report next week. Here's what that means
▼ + stars: | 2024-07-26 | by ( Sarah Min | ) www.cnbc.com time to read: +7 min

On Friday, the tech-heavy S & P 500 and Nasdaq Composite ended the week with losses, down 0.8% and 2.1%, respectively. However, the bulk of Magnificent Seven results is set for release in the week ahead. As it is, all seven of the Magnificent Seven companies closed out the week with losses. FOMC meeting, July jobs report Elsewhere, investors will also be reviewing the latest Federal Reserve interest rate decision set for release on Wednesday. Traders will also get insight into the labor market next week, with the release of the July jobs report on Friday.

Persons: Russell, Ryan Grabinski, John Belton, Tesla, Belton, FactSet, Stanley Black, Decker, Lam, Kraft Heinz, Ingersoll Rand Organizations: Nasdaq, Dow Jones Industrial, Microsoft, Facebook, Apple, Nvidia, 2H, 3Q, Gabelli, Traders, Dallas Fed, Semiconductor, Nation Entertainment, Electronic Arts, Starbucks, Match Group, Caesars Entertainment, Corning, Howmet Aerospace, Procter, Gamble, Pfizer, Merck, Co, PayPal, ADP, Civilian Workers, Chicago PMI, MGM Resorts International, Allstate, Lam Research, eBay, Qualcomm, Western, Cruise Line Holdings, Hess, Boeing, Mobile, Marriott International, GE Healthcare Technologies, Generac Holdings, Mastercard, Labor, PMI, Manufacturing, Intel, Holdings, Motorola Solutions, Technology, Air Products, Chemicals, Jobs, Exxon Mobil, Chevron Locations: Chicago, Albemarle, Kellanova, Hershey, Moderna

My client's pet insurance rose from $25 a month to $125 over a decade. That was the case for this client who asked us if they should keep their pet insurance policy. Get Pet Insurance Quotes Find affordable pet insurance policies with Petted. When it makes sense to drop pet insuranceOur client first got pet insurance coverage for their new puppy. For our client, they ultimately decided to keep their pet insurance coverage.

Persons: — Organizations: Service

☆ An ugly earnings report from a competitor is good news for Abbott Labs
▼ + stars: | 2024-07-26 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. In the wreckage of Dexcom 's second-quarter earnings report, there's good news for Club holding Abbott Laboratories . As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Stocks, Stanley Black, Decker, Abbott, Dexcom, salesforce, Jim Cramer's, ABT, DOV, Jim Organizations: CNBC, Dow Jones, Nasdaq, Federal, U.S, Club, Abbott Laboratories, Dover, Mizuho Securities Locations: Dover

The summer is usually a peak time for the housing market, but rising prices and still-high mortgage rates have kept demand relatively low. See more mortgage rates on Zillow Real Estate on ZillowMortgage Refinance Rates TodayMortgage type Average rate today This information has been provided by Zillow. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's interest rates will affect your monthly payments. 30-Year Fixed Mortgage RatesLast week's average 30-year fixed mortgage rate was 6.78%, according to Freddie Mac. Mortgage rates increased dramatically over the last two years, but they're expected to go down at some point this year.

Persons: Freddie Mac, Sam Khater, Freddie Mac's, you'll, it's Organizations: Federal Reserve, National Association of Realtors, Zillow Locations: Chevron

☆ 2-year Treasury yield dips as investors look to key inflation data
▼ + stars: | 2024-07-26 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

ET, the yield on the 10-year Treasury was up by less than one basis point at 4.2563%. The 2-year Treasury yield was last at 4.4307% after falling by over one basis point. U.S. Treasury yields were little changed on Friday as investors awaited the release of key inflation data ahead of the Federal Reserve's upcoming monetary policy meeting next week. Those are some of the last key economic data releases before the Fed meets next week to discuss monetary policy. The inflation figures come after economic data throughout the week have given mixed signals about the state of the economy.

Persons: Dow Jones Organizations: Treasury, Federal, PCE, Fed, U.S, PMI

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