DIRS.INFO The most relevant business & tech news

☆ Friday's PCE report is an important inflation gauge, says Jim Cramer
▼ + stars: | 2024-04-19 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFriday's PCE report is an important inflation gauge, says Jim Cramer'Mad Money' host Jim Cramer looks ahead to next week's market moving events and earnings.

Persons: Jim Cramer

☆ Wharton's Jeremy Siegel: Still see gains ahead in the market this summer
▼ + stars: | 2024-04-19 | 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 EmailWharton's Jeremy Siegel: Still see gains ahead in the market this summerJeremy Siegel, a Wharton School professor of finance, joins 'Squawk on the Street' to discuss whether recent equity performance is warranted, how Fed voters would explain the gap between PCE and CPI data, and more.

Persons: Jeremy Siegel Organizations: Wharton School

☆ Cramer’s week ahead: Earnings from Tesla, Merck and Big Tech
▼ + stars: | 2024-04-19 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +2 min

Cramer said the Federal Reserve prefers to use the PCE index, not the consumer price index, to best evaluate inflation. He warned that even if the market is oversold next week, the PCE index report on Friday will be where the rubber truly meets the road. Companies like GM , GE Aerospace and Spotify report on Tuesday, but Cramer said Tesla is the one to watch that day. On Thursday, Caterpillar , Merck and the tech giants Microsoft and Alphabet will release earnings. It's going to be a busy week, and Cramer said to be wary of the market and to especially watch out for the PCE index report.

Persons: CNBC's Jim Cramer, Cramer, Tesla, Mark Zuckerberg, Elon Musk, It's Organizations: Verizon, Meta, Microsoft, Federal Reserve, GM, GE Aerospace, Spotify, Boeing, Caterpillar, Merck, Exxon Mobil, Chevron Locations: Cleveland

Until inflation slows further and the Federal Reserve is able to start lowering the federal funds rate, mortgage rates are likely to remain elevated. If the latest PCE numbers support the narrative that inflation is remaining stubbornly high, mortgage rates could inch up further. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates would impact your monthly payments. 15-Year Fixed Mortgage Rates Essentially Flat (+0.01%)The average 15-year mortgage rate is 6.12%, just a single basis point higher than last week. Mortgage rates also rose dramatically in 2023, though they started trending back down toward the end of the year.

Persons: you'll, It's, refinance Organizations: Federal Reserve, US, of, Fed, Zillow, FHA Locations: Chevron

Average 30-year mortgage rates spiked this week in response to the latest Consumer Price Index data, which came in hotter than expected. If the Fed needs to keep rates higher for longer, mortgage rates will stay high as well. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates would impact your monthly payments. 15-year Fixed Mortgage RatesLast week, average 15-year mortgage rates were 6.16%, a 10-basis-point increase from the previous week, according to Freddie Mac data. Once the Fed cuts rates, mortgage rates should fall even further.

Persons: it's, you'll, Freddie Mac Organizations: Federal Reserve, Zillow Locations: Chevron

☆ Surging inflation fears sent markets tumbling and Fed officials scrambling
▼ + stars: | 2024-04-13 | by ( Jeff Cox | ) www.cnbc.com time to read: +8 min

Energy prices, which have been a major factor in the past two months' inflation readings, pushed higher on signs of further geopolitical turmoil. Minutes released Wednesday from the March Fed meeting showed officials were concerned about higher inflation and looking for more convincing evidence it is on a steady path lower. Sticky price CPI entails items such as housing, motor vehicle insurance and medical care services, while flexible price is concentrated in food, energy and vehicle prices. "If that's the case, you would require a decent amount of unemployment to get inflation all the way to 2.0%." That's why Furman and others have pushed for the Fed to rethink it's determined commitment to 2% inflation.

Persons: Spencer Platt, —, Stocks, Jason Furman, We've, Israel, Jim Paulsen, Wells, Substack, Paulsen, Furman, Barack Obama, Jamie Dimon, John Williams, Susan Collins, it's, Larry Fink Organizations: Getty, Investors, Dow Jones, CNBC, of Economic Advisers, New York Fed, National Federation of Independent Business, Labor Department, JPMorgan, University of Michigan's, Boston, Commerce, CPI, Citigroup, Fed, Atlanta Fed, Dallas Fed, Harvard, BlackRock Locations: Manhattan, New York City, Iran, Israel

☆ Stocks are undergoing a needed, and (so far) modest, pullback in a longer-term bull market
▼ + stars: | 2024-04-13 | by ( Michael Santoli | ) www.cnbc.com time to read: +8 min

The result was a 1.5-percent weekly drop in the S & P 500 , with Friday's setback exacerbated at least somewhat by a collective clenching-up of risk markets on some geopolitical worry. This dynamic hasn't been reversed, but the signal has grown a bit staticky, draining some conviction from the macro bullish case with the S & P 500 still 24% above the October low. Bull market's backdrop First, it's a bull market, and not a particularly mature or excessively generous one yet. Yet both stocks are still outperforming the S & P this year. The S & P 500 closed Friday at exactly the same level of five weeks earlier, on March 8 – which was perhaps the moment of maximum investor confidence in the "we can have it all" thesis.

Persons: I've, Jerome Powell, Powell, Wall, it's, We're, John Butters, Fastenal, Scott Chronert Organizations: Federal, ICE, Treasury, CPI, Fed, Grainger, Citi

☆ The inflation fight has stalled and the first rate cut won't happen until December, Bank of America says
▼ + stars: | 2024-04-11 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +2 min

Bank of America pushed back its forecast for the first rate cut of 2024 from June to December. The re-acceleration of inflation means markets should expect just a single 25 basis-point cut this year. AdvertisementThe recent string of unexpectedly high inflation readings has led Bank of America to push back its forecast for the first rate-cut of 2024 from June to December. Moreover, unfavorable base effects mean year-over-year core PCE inflation will probably not decline further between the June and September meetings," the note said. This would mean one-25bp rate cut this year, instead of our previous forecast of 75bp in rate cuts," analysts added.

Persons: —, Michael Gapen, Goldman Sachs, Larry Summers Organizations: of America, Service, Bank of America, RBC, US

☆ Watch CNBC's full interview with Invesco's Kristina Hooper and Ritholtz's Josh Brown
▼ + stars: | 2024-04-10 | 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 Invesco's Kristina Hooper and Ritholtz's Josh BrownKristina Hooper, Invesco chief global market strategist, and Josh Brown, CEO of Ritholtz Wealth Management, join 'Closing Bell' to discuss why the market seems overreacting to the latest CPI data, how PCE data will affect equity markets, and more.

Persons: Invesco's Kristina Hooper, Josh Brown Kristina Hooper, Josh Brown Organizations: Ritholtz Wealth Management

☆ Goldman Sachs now sees just 2 interest rate cuts in 2024 with auto insurance keeping inflation hot
▼ + stars: | 2024-04-10 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

The Fed is going to cut interest rates just two times in 2024, according to Goldman Sachs. The bank lowered its rate cut forecast from three to two following a hot March inflation report. "We are pushing back our forecast of the first rate cut from June to July," Goldman Sachs said. Still, following the hot CPI report, Hatzius bumped his expectations for the March PCE report. AdvertisementPart of Goldman's confidence in just two interest rate cuts this year stems from the fact that the Federal Reserve's most recent dot plot showed a central bank that was almost evenly split between two or three interest rate cuts this year.

Persons: Goldman Sachs, Jan Hatzius, Hatzius Organizations: Dow Jones, Investors, Federal

☆ Why gold prices are at record highs
▼ + stars: | 2024-04-09 | by ( John Towfighi | ) edition.cnn.com time to read: +6 min

Central banks see gold as a long-term store of value and a safe haven during times of economic and international turmoil. When interest rates fall, gold prices tend to rise, as bullion becomes more appealing than income-paying assets like bonds. Investors also regard gold as a hedge against inflation, betting bullion will retain its value when prices rise. The People’s Bank of China bought gold for the 17th straight month in March, adding 160,000 ounces to bring reserves to 72.74 million troy ounces of gold, according to Reuters. Higher oil prices are likely to stoke concerns over inflation, boosting gold prices, according to the UBS research note.

Persons: China —, Ulf Lindahl, Lindahl, Morgan, JP Morgan, Janet Yellen’s, Yellen, Mark Zandi, Jerome Powell, Wells, Richard Galanti, It’s Organizations: New, New York CNN, Investors, Federal Reserve, China, People’s Bank of China, Reuters, UBS, Research Associates, Moody’s, of Commerce, Costco Locations: New York, China, India, Turkey, Central, Wells Fargo

☆ A crucial report Wednesday is expected to show little progress against inflation
▼ + stars: | 2024-04-09 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

Scott Olson | Getty ImagesA closely watched Labor Department report due Wednesday is expected to show that not much progress is being made in the battle to bring down inflation. To be sure, inflation has come down dramatically from its peak above 9% in June 2022. That showed headline inflation running at 2.5% and the core rate at 2.8% in February. For their part, markets have grown nervous about the state of inflation and how it will affect rate policy. "I don't see a whole lot here that is going to move things magically the way they want to go," North said.

Persons: Scott Olson, We're, Dan North, North, they've Organizations: Getty, Labor Department, Federal Reserve, Allianz Trade North America, Fed, Commerce, PCE Locations: Chicago , Illinois

☆ Why the stock market sold off Tuesday and how investors can decide when to buy
▼ + stars: | 2024-04-03 | by ( Zev Fima | ) www.cnbc.com time to read: +9 min

He mentioned a handful of stocks that are nearing buy levels but bigger declines would need to bigger. So, with stocks selling off and cash at the ready, the question is, when do we step in? The fourth quarter was a pretty great one for Club stocks. When a stock is trading above these levels, then investors will look to these levels as support (meaning levels that might serve as a near-term floor). Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Tuesday's selloff, annualized, Jim Cramer, Jim, haven't, we've, We've, Jim Cramer's, Timothy A, Clary Organizations: CME, Federal Reserve, Abbott Laboratories, Palo Alto Networks, Investment, Fed, NYSE, Jim Cramer's Charitable, CNBC, New York Stock Exchange, Getty

☆ The Fed's first rate cut is still on pace for June with inflation dropping like a rock, Fundstrat's Tom Lee says
▼ + stars: | 2024-04-02 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

The Fed's first rate cut is still on track to come in June, Fundstrat's Tom Lee said. Yet investors are only pricing in a 57% chance of a rate cut by June, per the CME FedWatch tool. AdvertisementThe Fed is still poised to issue its first rate cut in June as the pace of inflation continues to slow, according to Fundstrat's head of research Tom Lee. All that points to a Fed that could be poised to cut rates sooner than markets are expecting, which is good news for stocks. Meanwhile, just 57% of investors are expecting the Fed to issue the first rate cut in June.

Persons: Fundstrat's Tom Lee, —, Tom Lee, Lee, That's, Mohamed El Organizations: Service, Fed, University of Michigan's, France —, Traders Locations: France

If either of these reports come in hotter than expected, mortgage rates could spike up. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates would impact your monthly payments. 15-year Fixed Mortgage RatesLast week, average 15-year mortgage rates were 6.11%, a 10-basis-point decrease from the previous week, according to Freddie Mac data. Mortgage rates started ticking up from historic lows in the second half of 2021 and increased over three percentage points in 2022. Once the Fed cuts rates, mortgage rates should fall even further.

Persons: you'll, Freddie Mac, it's Organizations: Federal Reserve, of Labor Statistics, Zillow Locations: Chevron

☆ Why the Fed's first rate cut could be delayed until March 2025 if inflation stays stubbornly high
▼ + stars: | 2024-04-02 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Stubbornly high PCE inflation readings might make it difficult to lower them in June as many expect. BofA still expects three rate cuts this year, but says the next PCE readings will determine this. AdvertisementThat's because comparisons with last year's figures mean that year-over-year core PCE inflation is unlikely to decline further in the second half of 2024. "Base effects for year-over-year core PCE inflation are favorable through May, but unfavorable for six of the last seven months of the year," analysts said in a note. Prints of 30bp or more on the next two core PCE readings would probably take June off the table, particularly if activity holds up," they wrote.

Persons: BofA, —, it's, Jerome Powell's Organizations: Bank of America, Service, Bloomberg, Federal Reserve, Fed

☆ Dollar steady as PCE data sets up June rate cut bets; yen in focus
▼ + stars: | 2024-04-01 | by ( ) www.cnbc.com time to read: +3 min

The dollar was broadly steady on Monday as data showing easing U.S. prices bolstered bets that the Federal Reserve could cut interest rates in June, while the yen loitered near 152 per dollar keeping traders on edge on the threat of intervention. The dollar was broadly steady on Monday as data showing easing U.S. prices bolstered bets that the Federal Reserve could cut interest rates in June, while the yen loitered near 152 per dollar keeping traders on edge on the threat of intervention. The report also showed consumer spending rising by the most in just over a year last month, underscoring the economy's resilience. The yen touched a 34-year low against the dollar of 151.975 on Wednesday and was last at 151.315 per dollar, a shade stronger, on Monday. In other currencies, the Australian dollar rose 0.21% to $0.654, while the New Zealand dollar was 0.20% higher at $0.599.

Persons: Jerome Powell, Sterling, Shunichi Suzuki, bitcoin Organizations: Federal, Commerce Department's, Reuters, Traders, Citi, Japan, Bank of Japan, Ministry of Finance, Financial Services Agency, New Zealand Locations: Japan

☆ Here are the 3 key things we're most focused on in the stock market this week
▼ + stars: | 2024-03-30 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

The annual reading is above the 2% target set by the central bank but is a slight deceleration from the 2.9% annual rate in December and January. Looking ahead to next week, it's all about the macroeconomic updates as the first quarter earnings season is mostly over. ET: ISM Manufacturing PMI After the bell: PVH Corp. (PVH), Canoo (GOEV) Tuesday, April 2 10:00 a.m. ET: ISM Services PMI Before the bell: Acuity Brands (AYI) After the bell: BlackBerry (BB), Levi Strauss (LEVI) Thursday, April 4 8:30 a.m. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.

Persons: Dow, payrolls, Paychex, Calvin Klein, Tommy Hilfiger, Buster's, Levi Strauss, LEVI, Lamb Weston, Jim Cramer's, Jim Cramer, Jim, Eric Thayer Organizations: Dow Jones, Nasdaq, Federal, Cal, Maine Foods, Conagra, PVH Corp, PMI, Maine, Brands, Jim Cramer's Charitable, CNBC, Workers, Grand Central Market, Bloomberg, Getty Locations: U.S, Cal, Los Angeles , California

This week, 30-year mortgage rates averaged 6.37%, according to Zillow data. Most major forecasters expect mortgage rates to decline in 2024, but so far we haven't seen any signs of a sustained drop. As we get more data showing that inflation is cooling, mortgage rates should start trending down more definitively. The sooner the Fed can start cutting rates, the sooner mortgage rates will start to fall. This means your entire monthly mortgage payment, including taxes and insurance, shouldn't exceed 28% of your pre-tax monthly income.

Persons: you'll, Fannie Mae Organizations: Commerce Department, Fed, Zillow, Mortgage, Association, Sky Locations: Chevron

☆ Cooling inflation data means the Fed is in position to cut rate in June, chief economist says
▼ + stars: | 2024-03-30 | by ( Aruni Soni | ) www.businessinsider.com time to read: +1 min

Cooling inflation data means the Fed is in position to cut rate in June, LPL's chief economist said. The PCE index, which is the Fed's preferred inflation gauge, decelerated to a 0.3% monthly increase, down from 0.5% in January. Services spending has slowed which indicates that growth in consumer spending will ease in the coming months, Jeffrey Roach said. AdvertisementThe latest inflation data has rolled in in line with expectations, and it's good news for those waiting on rate cuts. The Personal Consumption Expenditures index — which is the Fed's preferred inflation gauge — decelerated to a 0.3% monthly increase, down from 0.5% in January.

Persons: LPL's, Jeffrey Roach, — Organizations: Services, Service, Business

☆ Key Fed inflation gauge rose 2.8% annually in February, as expected
▼ + stars: | 2024-03-29 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

While the Fed looks at both measures when making policy, it considers core to be a better gauge of long-term inflation pressures. The Fed targets 2% annual inflation; core PCE inflation hasn't been below that level in three years. Inflation pressures came more from the goods side, which rose 0.5%, compared to the 0.3% increase for services. That countered the trend over the past year, during which services rose 3.8% while goods actually fell by 0.2%. Along with the inflation increase, consumer spending shot up 0.8% on the month, well ahead of the 0.5% estimate, possibly indicating additional inflation pressures.

Persons: Dow Jones, Victoria Greene Organizations: Federal Reserve, Commerce Department, Fed, G Squared, Wealth, CNBC, PCE, Federal, Market

☆ Fed remains 'between a rock and a hard place' after key PCE data, says G Squared's Victoria Greene
▼ + stars: | 2024-03-29 | 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 EmailFed remains 'between a rock and a hard place' after key PCE data, says G Squared's Victoria GreeneCNBC's Morgan Brennan, Steve Liesman and Rick Santelli break down Friday's key personal consumption expenditure data. KPMG Chief Economist Diane Swonk and G Squared Private Wealth's Victoria Greene also discuss what the data means for the Fed and U.S. economy.

Persons: Victoria Greene CNBC's Morgan Brennan, Steve Liesman, Rick Santelli, Diane Swonk, Victoria Greene Organizations: KPMG, Fed Locations: U.S

☆ Watch CNBC's live coverage of Friday's key inflation data
▼ + stars: | 2024-03-29 | by ( Jeff Cox | ) www.cnbc.com time to read: +1 min

The Commerce Department on Friday will release the February reading for the personal consumption expenditures price index, which the Federal Reserve considers its most important inflation measure. For the main number, the respective estimates are 0.4% and 2.5%, compared to 0.3% and 2.4%. While the Fed looks at both numbers, it considers core a more reliable indicator of longer-term inflation trends. Along with the PCE numbers, the department will release the figures for personal income and consumer spending. They are expected to show respective increases of 0.4% and 0.5%.

Persons: Dow Jones, Read Organizations: Commerce Department, Federal Reserve, CNBC, Fed, YouTube

The 2-year Treasury yield was last up by 6 basis points at 4.63%. The yield on the 10-year Treasury had risen 1 basis point to 4.21%. The 2-year Treasury yield ticked higher Thursday as investors considered the path ahead for interest rates following comments from a Federal Reserve official and prepared for key inflation data. Investors weighed the outlook for monetary policy and looked ahead to key economic data as uncertainty around when and how often interest rates will be cut this year persists. Federal Reserve Governor Christopher Waller on Wednesday said there was "no rush" to cut interest rates, adding that recent economic data indicated that rates may need to stay elevated for longer.

Persons: Christopher Waller, Waller, Dow Jones Organizations: Treasury, Federal Reserve, Investors, Federal, PCE

☆ Estee Lauder jumps 5% on an analyst upgrade — our take on the cosmetics stock
▼ + stars: | 2024-03-28 | by ( Morgan Chittum | ) 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. "This was a quarter about earnings and these companies are earning a lot of money," Jim Cramer said. 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, Dupont De Nemours, Estee Lauder, Lauder's, we've, Jim, Jim Cramer's Organizations: CNBC, Nvidia, Meta, Dupont De, Bank of America, Management Locations: Wells Fargo, Dupont, U.S

Search resuls for: "PCE"

25 mentions found