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☆ Arlington, Virginia, gave $500 to low-income families no strings attached. It helped them catch up on bills, but many still struggle to afford housing.
▼ + stars: | 2024-02-17 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +7 min

For the 10% of households making under 30% of the county's median income, median living expenses are about three times what they earn. AdvertisementCompared to the control group that didn't receive payments, participants had significantly better employment outcomes. While the percentage of employed control group families stayed the same at 74%, the participants’ employment rate jumped from 75% to 87%. When looking only at employed participants, median income rose from $1,573 to $1,900 per month. When factoring in other sources of income, such as Social Security or child support, the control group’s income rose 40% while the participants’ income rose 84%.

Organizations: Service, Arlington Community Foundation, Arlington County Department of Human Services, Business, Economic Research Institute, Security Locations: Washington, Arlington , Virginia, Texas, South Dakota, Arlington, American, Arlington County

☆ Arlington, Virginia gave people $500 a month. They worked less overtime and pursued education instead, a report found.
▼ + stars: | 2024-02-11 | by ( Kenneth Niemeyer | ) www.businessinsider.com time to read: +4 min

Read previewA guaranteed basic income program in Arlington, Virginia that gave low-income residents $500 a month with no strings attached allowed them to find their footing, seek out education, and improve their job security, a final report found. Recipients said reducing their weekend and overtime hours helped them pursue education and certifications that could lead to higher-paying jobs. Arlington is not the first city to experiment with a guaranteed basic income program. Some lawmakers in Texas, however, oppose basic income programs. One state senator asked the state attorney general to declare a similar program in the Houston area unconstitutional.

Persons: —, Uber Organizations: Service, Arlington Community Foundation, Arlington County Department of Human Services, Business, Arlington Community Fund Locations: Arlington , Virginia, Arlington, Washington, DC, Virginia, Baltimore, Boston, Austin, Denver , Minneapolis, Texas, Houston

☆ Home prices are falling in these 32 real estate markets as affordability improves after the toughest quarter in 38 years
▼ + stars: | 2024-02-10 | by ( James Faris | ) www.businessinsider.com time to read: +4 min

Modest yet meaningful declines in home prices and mortgage rates gave aspiring homeowners some much-needed relief in the fourth quarter, according to recently released data from the National Association of Realtors (NAR). The third quarter of 2023 was the worst three-month stretch for home affordability in 38 years , according to data from the NAR’s housing affordability index. In nearly half of US markets, families bringing in less than $100,000 couldn’t afford to buy a standard home on a 10% down payment last quarter, according to the NAR. 32 cities where home prices are fallingProperty value gains were widespread and significant in the fourth quarter. Below are those 32 US cities where single-family homes got cheaper in the fourth quarter compared to the prior year, according to the NAR.

Persons: —, ”, Lawrence Yun, Yun, That’s, ” Yun Organizations: Service, National Association of Realtors, Business, NAR, ” Homeowners Locations: Northeast

☆ AI might be reading your Slack messages: 'A lot of this becomes thought crime'
▼ + stars: | 2024-02-09 | by ( Hayden Field | ) www.cnbc.com time to read: +11 min

Aware's analytics tool — the one that monitors employee sentiment and toxicity — doesn't have the ability to flag individual employee names, according to Schumann. Speaking broadly about employee surveillance AI rather than Aware's technology specifically, Williams told CNBC: "A lot of this becomes thought crime." When including other types of content being shared, such as images and videos, Aware's analytics AI analyzes more than 100 million pieces of content every day. "It's always tracking real-time employee sentiment, and it's always tracking real-time toxicity," Schumann said of the analytics tool. Amba Kak, executive director of the AI Now Institute at New York University, worries about using AI to help determine what's considered risky behavior.

Persons: George Orwell, there's, Slack, Jeff Schumann, Schumann, Jutta Williams, Williams, chatbot, he's, Orwell, Rather, Amba Kak, Kak, they're Organizations: Istock, Microsoft, U.S, Walmart, Delta Air Lines, Mobile, Chevron, Starbucks, Nestle, AstraZeneca, CNBC didn't, Delta, CNBC, Humane Intelligence, Goldman Sachs Asset Management, Nationwide, CBS, Meta, New York University, Federal Trade Commission, Justice Department, Opportunity Commission Locations: Columbus , Ohio, Chevron, United States, Slack

☆ High-yield bonds will be one of the top performers this year, according to State Street. Here's why
▼ + stars: | 2024-02-08 | by ( Michelle Fox | ) www.cnbc.com time to read: +2 min

Investors looking for income should be well-rewarded this year, once again, buying high-yield bonds, according to State Street. He's predicting high-yield bonds will again be one of the top-performing fixed-income sectors in 2024. High-yield bonds currently have spreads of 3.43 percentage points relative to Treasurys, according to the ICE BofA US High Yield Index Option-Adjusted Spread . Of course, investors should understand that high-yield bonds carry more risk than investment-grade debt. "They should be balancing the quality characteristics of high-yield bonds relative to the yield that those bonds are providing," he said.

Persons: Michael Arone, Arone Organizations: Bloomberg, Federal, ICE, CNBC Locations: United States

☆ A couple in their 30s hit a $1 million net worth by saving and investing most of their 5-figure incomes. They share the strategies that helped them live on $26,000 a year without feeling deprived.
▼ + stars: | 2024-02-07 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +9 min

Read previewWhen Lauren and Steven Keys landed their first full-time jobs, they were earning well below the national average. Courtesy of Lauren and Steven KeysBetween 2013 and 2015, the Keys say they saved over $100,000 . Courtesy of Lauren and Steven Keys"It's not just gas," said Steven, who biked to work so Lauren could use the car for her commute. "You don't have to pay for insurance on the second car, you don't have to pay for maintenance or repairs or tires. While they don't work traditional 9-to-5 jobs, they have a variety of revenue streams that more than sustain their lifestyle.

Persons: —, Lauren, Steven Keys, Steven, Lauren didn't, Keys, It's, They've, They're, they've, we're, we've, there's Organizations: Service, Business, BI, University of Florida, Walmart, Costco, Aldi, Sam's, paychecks Locations: Gainesville, Orlando, San Francisco, Publix, Gainesville , Florida, Hawaii

☆ Here’s what major analysts are chattering about before Disney earnings
▼ + stars: | 2024-02-07 | by ( Pia Singh | ) www.cnbc.com time to read: +4 min

Analysts are largely bullish on Walt Disney stock ahead of the media company's fiscal first-quarter earnings out Wednesday afternoon. But analysts are not sure about the effect of the move on Disney's share price just yet. Analysts are generally optimistic on Disney ahead of earnings, with some even thinking the stock is trading at a cheaper valuation than it should be. Disney remains Morgan Stanley's sole overweight media stock given the firm's bullish view on parks and streaming, analyst Benjamin Swinburne wrote in a Monday note. DIS 1Y mountain Disney stock.

Persons: Wells, Steven Cahall, Morgan Stanley's, Benjamin Swinburne, Swinburne, Jason Bazinet, Bazinet, Hugh Johnston, Disney, Blackwells, Nelson Peltz's Organizations: Walt Disney, Disney, Blackwells, ESPN, Fox, Warner Bros . Discovery, UBS, Big Tech, Citi, Hulu, DIS, Capital, Fund Management Locations: rebundling, Tuesday's, F1Q23

☆ FBI: 'Financial sextortion' of teens is a 'rapidly escalating threat.' How parents can protect their kids
▼ + stars: | 2024-02-01 | by ( Greg Iacurci | ) www.cnbc.com time to read: +6 min

Cavan Images | Cavan | Getty Images"Financial sextortion," a type of cybercrime that targets teens and tweens, is on the rise. "Sextortion is a rapidly escalating threat," FBI Director Christopher Wray told the Senate Judiciary Committee in December. Financial sextortion is the fastest-growing crime targeting children in North America and Australia, according to the Network Contagion Research Institute. Wealthy parents are more likely to be lenient about social media use. How to protect your kids from sextortion

Persons: Christopher Wray, Sen, Dick Durbin, Criminals, Tracy Kitten, Kitten, didn't, Oladosu, sextortion Organizations: Getty, FBI, Finance, Network, Research, Yahoo Boys, Meta, Strategy, U.S, YouTube Locations: Cavan, North America, Australia, African, U.S, Nigerian, bitcoin, sextortion

☆ After Tesla’s dismal quarter, more of the Magnificent Seven face tests next week
▼ + stars: | 2024-01-28 | by ( Krystal Hur | ) edition.cnn.com time to read: +4 min

That comes as the rest of the “Magnificent Seven” — Nvidia, Microsoft, Meta Platforms, Amazon, Apple and Alphabet — continue climbing higher. Excluding Tesla, the Magnificent Seven is projected to report an aggregate 53.7% fourth-quarter earnings growth from the prior year, according to FactSet. Companies in the S&P 500 index are expected to report a 10.5% earnings decline minus those six firms. The “Magnificent Seven” excluding Tesla has a combined market cap of roughly $12 trillion, according to Bespoke Investment Group data through Wednesday’s close. Her firm owns all of the Magnificent Seven stocks except for Tesla.

Persons: Tesla, Howard Silverblatt, Dow, “ You’re, ”, Saira Malik, Russell, “, Shelby McFaddin, Wall, Joe Mazzola, Charles Schwab Organizations: New, New York CNN — Tech, Nvidia, Microsoft, Meta, Amazon, Apple, Companies, Big Tech, Dow Jones, Investors, Federal Reserve, Dow, Tesla, Investment, Federal, — Locations: New York

☆ Activist Rubric nominates two directors at Xperi. Here’s how the firm may help enhance shareholder value
▼ + stars: | 2024-01-27 | by ( Kenneth Squire | ) www.cnbc.com time to read: +6 min

Business: Xperi is a technology company that develops software solutions and has the following four main business segments. Rubric is a deep value, long/short investor that will become active in situations that require it. The problem is a culture that is not focused on shareholder value. Accordingly, Rubric Capital nominated Conrad and Lacey for election as directors to the company's board at Xperi's 2024 annual meeting. There is a big difference between settling for two additional directors on a seven-person board and replacing two incumbent directors on a five-person board.

Persons: Xperi, David Rosen, Rosen, Tobii, Conrad, Lacey, Ken Squire Organizations: Smart, TiVo, SAC Capital, Tobii, 13D Locations: New York, Swedish

☆ Jürgen Klopp to step down as Liverpool manager at the end of the season
▼ + stars: | 2024-01-26 | by ( Ben Church | George Ramsay | ) edition.cnn.com time to read: +3 min

CNN —Liverpool manager Jürgen Klopp has announced that he will step down from his position at the end of the current season. Since taking over in 2015, the German has overseen one of the most successful eras in the club’s history, notably winning a Champions League title and Liverpool’s first league title in 30 years. Video Ad Feedback Jurgen Klopp's influence on Liverpool FC 02:05 - Source: CNNUnder Klopp, Liverpool transformed back into a powerhouse of English and European soccer. Under his guidance, the team won the Champions League, Premier League, FIFA Club World Cup, FA Cup, League Cup and UEFA Super Cup, as well as the FA Community Shield. Chief among them is perhaps the stunning comeback against Barcelona in the semifinals of the Champions League in 2019.

Persons: Jürgen Klopp, Liverpool’s, “, ” Klopp, ”, Pepijn Lijnders, Peter Krawietz, Vitor Matos, Jurgen Klopp's, Mohamed Salah, Roberto Firmino, Sadio, Klopp Organizations: CNN, Liverpool, League, ” Liverpool, Liverpool FC, Klopp, Champions League, Premier League, FIFA Club, FA Cup, League Cup, UEFA, FA, Tottenham, Reds, Barcelona, Chelsea Locations: Liverpool

☆ China stock market: Calm returns after wild week but big challenges remain
▼ + stars: | 2024-01-26 | by ( Laura He | ) edition.cnn.com time to read: +6 min

Hong Kong CNN —It’s been a rollercoaster week for stocks trading in mainland China and Hong Kong. “For a sustained rally in China stocks, we think China will need to address the core of these concerns (predominantly property sector issues and US-China tensions),” the analysts added. In the 7 days to January 24, exchange-traded funds (ETFs) tracking Chinese stocks recorded large inflows of $12.6 billion, according to a Citi survey of global fund managers. Still, investors have been fleeing Chinese stocks over a much longer period because they are worried about the country’s economic prospects. The country is facing the prospect of a vicious cycle whereby lower demand leads to lower investment, lower production and lower income, thus causing even lower demand.

Persons: Hong Kong CNN — It’s, Hong, — haven’t, ” Nomura, “, Li Qiang, ”, Li Yunze, Pan Gongsheng, Florence Lo, HSI, Raymond Yeung, ” Yeung Organizations: Hong Kong CNN, Shanghai Shenzhen, ”, Shanghai Financial Exchange, Bloomberg, State, Supervision, Administration Commission, Administration of Financial, Reuters, People’s Bank of China, Citi, Enodo Economics, HSBC, Greater China, ANZ Research Locations: China, Hong Kong, Shanghai, United States, Beijing, Davos, Switzerland, Greater

☆ China's rapidly dwindling future will shape the world for decades to come
▼ + stars: | 2024-01-21 | by ( Linette Lopez | ) www.businessinsider.com time to read: +14 min

Everything was getting bigger — its cultural influence, geopolitical ambition, population — and seemed poised to continue until the world was remade in China's image. But now China's economy is withering, and the future Beijing imagined is being cut down to size along with it. What Beijing does — or fails to do — to fight this malaise will determine the course of humanity for decades to come. China's deflation worries started in earnest in the summer. Years of overbuilding — by about double the population, according to some estimates — and slowing population growth caused prices to collapse .

Persons: Minxin Pei, there's, Charlene Chu, Autonomous Research Charlene Chu, Chu, Wei Yao, Générale, I'm, Ben Bernanke, Bernanke, Xi Jinping, Xie Huanchi, Société Générale's Yao, Yao, It's, —, aren't, Logan Wright, Wright, Xi doesn't, Jinping, it's, Xi, Claremont's Pei, magnanimity Organizations: Claremont McKenna College, Autonomous Research, Federal Reserve, Getty Images Japan, Chinese Communist Party, Xi, CCP Locations: China, Beijing, dauphin, Xinhua, Japan, Xi's China, East Asia, Taiwan, Europe

Gould is more bullish than many on Wall Street, as the average price target of analysts polled by LSEG is $484.42. Analyst Harold Antor downgraded the stock to hold from buy and slashed his price target by $4 to $8. Analyst Jeffrey Stantial upgrade the sports betting stock to buy from hold and raised his price target by $5 to $45. Stantial's new price target implies shares can jump 19.9% over the next year from Thursday's close. UBS raised its rating on Texas Instruments to buy and increased its price target to $195 from $170.

Persons: Chipmakers, Wells, Bernstein, PDD, Robin Zhu, Zhu, Temu, there's, Shein, — Alex Harring, Alan Gould, Gould, Jefferies, Hertz, Harold Antor, Antor, There's, Saul Martinez, Martinez, Alex Harring, Stifel, Jeffrey Stantial, Stantial, Wells Fargo, Aaron Rakers, Mark Zuckerberg, Zuckerberg, TXN, Timothy Arcuri, FCF –, Fred Imbert Organizations: CNBC, UBS, Texas, Nvidia, Meta, PDD Holdings, Netflix, HBO, LSEG, Hertz, EV, Jefferies, HSBC, Discover, Facebook, Big Tech, Texas Instruments Locations: China, Thursday's

☆ Cable companies are replacing ancient cable boxes with these tiny new gadgets
▼ + stars: | 2024-01-18 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +3 min

Cable companies are trying to catch up with the times, though, and now want you to replace your clunky set-top cable boxes with sleek, Apple TV-like streaming devices – gadgets that could save customers money. Xumo is one step in cable companies’ broader strategy to combine live TV with streaming – essentially rebundling streaming services like the old cable bundle. Moving from a cable box to Xumo will save cable customers money. It’s a shift for cable companies that long relied on trying to get households to add as many set-top cable boxes in their homes as possible. It could be a while before the ancient cable box completely disappears, however.

Persons: Max, ‘, Xumo, Bruce Leichtman, ” Craig Moffett, Jessica Fischer Organizations: New, New York CNN, Cable, Apple, Comcast, Netflix, Disney, CNN, Google, “ Cable, ” Locations: New York

☆ Apple gets a big upgrade from Bank of America, which calls for more than 20% upside ahead
▼ + stars: | 2024-01-18 | by ( Fred Imbert | ) www.cnbc.com time to read: +2 min

Bank of America thinks Apple can recover from its slow 2024 start and notch big gains going forward. He also raised his price target to $225 per share, which implies 23% upside from Wednesday's close. Mohan noted he expects Apple to implement AI features in its iOS 18 operating system later this year. He also said the Vision Pro headset "could surpass iPad revs over time as spatial computing takes hold offering differentiated use cases driving services upside." AAPL YTD mountain Apple in 2024 Apple shares have been under pressure in early 2024, losing more than 5% after rallying 48% last year.

Persons: Apple, Wamsi Mohan, Mohan, downgrades, Piper Sandler, BofA Organizations: of America, Apple, Barclays Locations: U.S, China

☆ These new bond ETFs will let investors target specific parts of the corporate market
▼ + stars: | 2024-01-17 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +3 min

A new group of bond funds aims to give investors a way to bet on specific segments of the corporate bond market, potentially creating more control in an interest rate environment that looks to be volatile in 2024. F/m Investments announced Wednesday that it will launch three corporate bond funds targeting certain times to maturity. The new suite of funds starts with three offerings: a 2-Year Investment Grade Corporate Bond ETF (ZTWO), a 3-Year Investment Grade Corporate Bond ETF (ZTRE) and a 10-Year Investment Grade Corporate Bond ETF (ZTEN). Benchmark series, which F/m launched starting in 2022 and gives investors tools to target specific maturities on the Treasury curve. Corporate bond defaults soared 80% in 2023, though most of the damage was done from lower-rated and heavily indebted companies.

Persons: Alexander Morris, Morris Organizations: Investments, Corporate, U.S, U.S . Treasury Locations: U.S

The energy sector is under pressure, but some stocks within the space are poised for an upside breakout. These names are cheap, are expected to rise more than 10% to their average price targets and are trading below where they have been historically. Upside to average price target of more than 10%. The U.S-listed shares, which are trading 5% below their 200-day moving average, have a forward price-to-earnings ratio of 8.6. It's set to surge 26% to its average price target and is trading at a forward P/E of just 7.6.

Persons: Baker Hughes, It's, Bank of America's Christopher Kuplent, Kuplent, underperformed, Murray Auchincloss, Auchincloss, Bernard Looney Organizations: Energy, APA, CNBC, Equinor ASA, Bank of America's, BP Locations: China, Norwegian, U.S, 2Q23

☆ Goldman Sachs gives 3 investment strategies for an expensive stock market
▼ + stars: | 2024-01-16 | by ( Sarah Min | ) www.cnbc.com time to read: +4 min

In fact, the S & P 500 is currently at about the same valuation Goldman Sachs expected it to end 2024. Weak pricing power Another trade is owning businesses with weak pricing power. "During periods of improving profitability, investors often reduce the scarcity premium assigned to strong pricing power stocks, and firms with less pricing power and more variable profit margins typically outperform." Some companies with weak pricing power include Freshpet , according to a Goldman Sachs stock screen. Own consumer staples Meanwhile, consumer staples are at an attractive valuation compared to utilities.

Persons: Goldman Sachs, David Kostin, Kostin, Russell, what's, TD Cowen, Roblox, D.R, Consumer Staples, Tyson Organizations: CNBC, Survey, WisdomTree, Hertz Global Holdings, Consumer, Utilities, Tyson Foods, Pilgrim's Locations: Horton , Texas

Fourth-quarter earnings season is kicking off with a mix of good and bad news. Without those six stocks, the rest of the S & P is expected to see earnings fall 6%. There's a lot riding on earnings in 2024 For the S & P 500 to increase in 2024, earnings need to expand. But with the S & P 500 up over 20% last year, the forward earnings multiple is roughly 19.6, in the very pricey range. We need higher revenues The biggest risk to higher earnings is lower revenue growth.

Persons: Savita Subramanian, General Mills, Mobileye, Nick Raich, Adam Crisafulli, BofA's Subramanian, Deutsche, Binky, Sam Stovall Organizations: Pfizer, Merck, Moderna, Bank of America, Nvidia, Microsoft, Apple, Nike, FedEx, General, Darden, Constellation Brands, Technology, Samsung Electronics, Vital, Deutsche Bank's Locations: Wayfair, Conagra

☆ The new investment chief at $290 billion BNY Mellon Wealth Management makes the case for her 5 favorite investments while US stocks struggle to break through record highs
▼ + stars: | 2024-01-14 | by ( James Faris | ) www.businessinsider.com time to read: +9 min

BNY Mellon Wealth Management's chief investment officer explained why stocks have limited upside. Sinead Colton Grant has hit the ground running in her new role as the chief investment officer at BNY Mellon Wealth Management. What to expect in the economy this yearThe theme of BNY Mellon Wealth Management's 2024 outlook report is "a healthy slowdown." However, Colton Grant acknowledged that there are serious discrepancies between how high- and low-income households experience the economy. 5 top places to invest nowBNY Mellon Wealth Management may be neutral on equities broadly, but it has a bullish overweight rating on US stocks.

Persons: Sinead Colton Grant, BNY, she's, BNY Mellon, Colton Grant, David Kelly, Colton, Kelly, Colton Grant's Organizations: BNY Mellon Wealth, BNY Mellon Wealth Management, BNY Mellon, BNY, JPMorgan Asset Management, Business, Mellon Wealth Management, Federal Reserve, Mellon, Management, Asset Management, BMO Capital Markets Locations: BlackRock, Invesco

☆ New York and California make retail theft a 2024 priority: 'We mean business'
▼ + stars: | 2024-01-11 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +5 min

Since 2022, at least nine states — including six in 2023 — passed laws to impose harsher penalties for organized retail crime offenses, and New York and California could join that list. It's tough to determine whether theft offenses are up nationally, as it's a crime that often goes unreported and undetected. Experts previously told CNBC that laws that increase penalties for retail crime offenses may not actually reduce theft offenses, and could disproportionately harm marginalized groups. "Across our nation and our state, retail theft has surged, creating fear among customers and workers. Newsom this week also called for new legislation that would address organized retail crime.

Persons: Kathy Hochul, Gavin Newsom, —, It's, Hochul, Newsom, sheriff's, — CNBC's Christina Wilkie Organizations: Democratic, Republicans, CNBC, Owners, CNBC PRO Locations: New York, California

☆ Boomers Haven't Saved Enough for Retirement; Gen Z Will Have to Pay
▼ + stars: | 2024-01-10 | by ( Ann C. Logue | ) www.businessinsider.com time to read: +11 min

According to Census Bureau data, 44% of boomers are at retirement age and millions more are soon to join them. And since younger boomers are less financially prepared for retirement than their older boomer siblings, the problem is bound to get worse. AdvertisementAs boomers continue to age out of the workforce, it's going to put strain on the healthcare system, government programs, and the economy. Not all boomers are richIt's undeniable that some boomers will enjoy a cushy retirement. The median retirement account for that age group has only $200,000 — meaning that half of 65- to 74-year-olds have even less saved up.

Persons: —, it's, Rita Choula, Stevie Kuenn, Kuenn, Choula, Caregiving, Gen Organizations: Federal, AARP, Institute, Consumer Finances, Social Security, National Council, Medicare, Pew, National Alliance, American Health Care Association, Department of Homeland Security Locations: —, Chicago, Ohio, America

☆ Investors poured cash into these fixed income ETFs in 2023
▼ + stars: | 2024-01-09 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +6 min

The Federal Reserve's monetary policy set the tone for the fixed income world in 2023 – right down to which exchange traded funds investors picked to take advantage of higher interest rates. Bond yields have an inverse relationship to their prices, so that when prices decline, yields rise and vice versa. The Vanguard Long-Term Treasury ETF (VGLT) was another favorite of investors, with about $7.3 billion in net flows in 2023. Indeed, those strategies proved popular with investors in 2023, as the Vanguard Total Bond Market ETF (BND) and iShares Core U.S. Aggregate Bond ETF (AGG) were ETFs with the second and third highest net flows, per Morningstar.

Persons: It's, Paul Olmsted, Matthew Bartolini, Olmsted, Morningstar, –, it's, BND, AGG Organizations: Investors, Bloomberg Finance, State Street Global Advisors, Morningstar, SPDR, SPDR Americas Research, Street Global Advisors, State, Treasury Bond ETF, Bloomberg, SGOV, SEC, Treasury, Fed, Vanguard, Bond Market, Core, Aggregate Bond Locations: SPDR Americas, Central

☆ Gold retreats to three-week low ahead of U.S. inflation data
▼ + stars: | 2024-01-08 | by ( ) www.cnbc.com time to read: +2 min

Bars of gold are seen at Krastsvetmet, one of the world's largest producers of precious metals, in Moscow, January 31, 2023. Gold prices fell to a three-week low on Monday, pressured by elevated Treasury yields as expectations for an imminent Federal Reserve interest rate cut faded, with investors looking ahead to this week's U.S. inflation data for more clarity. Higher interest rates increase the opportunity cost of holding non-yielding bullion. The market currently sees a 69% chance of a rate cut at the Fed's March 19-20 policy meeting, according to the CME FedWatch Tool. "If and when a recession becomes apparent, the Fed can be expected to cut rates, likely weakening the dollar and benefiting the dollar gold price," Heraeus Metals said in a note.

Persons: Daniel Pavilonis, Heraeus Organizations: Treasury, Metals, Palladium, Heraeus Metals Locations: Moscow, U.S

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