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☆ Amid persistent inflation, 54% of Americans are using savings to pay for everyday expenses
▼ + stars: | 2023-02-16 | by ( Jessica Dickler | ) www.cnbc.com time to read: +1 min

Inflation is still taking a hefty toll on households, recent reports show. Prices continued their upward momentum in January, rising 0.5% for the month and 6.4% over the past 12 months, according to the latest consumer price index data released by the U.S. Bureau of Labor Statistics. To make ends meet, 27% of Americans said they've had to take money out of savings and more than half, or 54%, said they used that money to pay for everyday expenses, such as groceries and rent, the recent Country Financial Security Index found. More from Personal Finance:What is a 'rolling recession' and how does it impact you? "Inflation has shredded household budgets over the past two years, and not just when it comes to one-off discretionary expenses or special occasions, but for keeping up with day-to-day bills," said Greg McBride, chief financial analyst at Bankrate.com.

☆ Fed's Mester says more rate hikes needed to combat inflation
▼ + stars: | 2023-02-16 | by ( Michael S. Derby | ) www.reuters.com time to read: +3 min

When the Fed met at the start of the month to deliberate on interest rate policy, it moderated the pace of what had been a torrid barrage of rate hikes and lifted its overnight target rate by quarter percentage point, to between 4.5% and 4.75%. The Fed signaled more rate hikes are coming to help lower overly high inflation levels back to the 2% target. Mester, who does not have a vote on the Federal Open Market Committee this year, noted she would have been open to a larger rate rise at the gathering. “It is welcome news to see some moderation in inflation readings since last summer, but the level of inflation matters and it is still too high,” Mester said. This will cool inflation and wage pressures and “as a result, I expect to see good progress on inflation this year,” the official said.

☆ European markets expected to open mixed; investors await U.S. CPI data
▼ + stars: | 2023-02-14 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: 1 min

European markets are expected to open muted Tuesday morning as investors assess the economic outlook. U.S. consumer price index data set for release Tuesday will determine whether the Federal Reserve opts for further monetary policy tightening, while Europe and Japan are also set to release key data later in the week. The pan-European Stoxx 600 index closed 0.9% higher Monday, with most sectors and major bourses finishing in positive territory. Household goods led gains with a 2% increase, while oil and gas stocks slipped 0.2%. U.S. stock futures ticked lower Tuesday morning as investors looked ahead to key inflation data.

☆ Retail investor risk appetite improves with AI stocks leading
▼ + stars: | 2023-02-14 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +5 min

Retail investors had a poor year in 2022, with the average portfolio ending the year down around 35% from all-time highs, Vanda Research previously estimated. However, retail investors have shown renewed interest in the early part of 2023. Meanwhile, shares of early meme stocks GameStop (GME.N) and AMC Entertainment (AMC.N) have pared some losses after last year's tumble. "Investor enthusiasm is also attracting short-sellers that are skeptical about some of the resulting valuations," said Evan Niu, an analyst at Ortex, which tracks real-time short interest data. AI software firm Veritone (VERI.O), SoundHound and BigBear.ai also show a pick up in short interest, Ortex data showed.

☆ Here's the breakdown of the inflation report for January — in one chart
▼ + stars: | 2023-02-14 | by ( Lorie Konish | ) www.cnbc.com time to read: +1 min

High inflation has followed the U.S. economy into 2023, as consumers continued to see high prices in January. Inflation rose 0.5% for the month and 6.4% over the past 12 months, according to consumer price index data released by the U.S. Bureau of Labor Statistics on Tuesday. Both results were higher than some economists' expectations, which had predicted 0.4% for the month and 6.2% year over year. Almost half of Americans think we're already in a recessionThe CPI measures the average change in consumer prices based on a broad basket of goods and services. Other areas that saw a monthly decline in prices include used cars and trucks, medical care, and airline fares.

☆ Americans' breakfast takes a hit as egg prices surpass beef and the cost of orange juice soars
▼ + stars: | 2023-02-14 | by ( Morgan Chittum | ) www.businessinsider.com time to read: +2 min

Orange juice prices, meanwhile, are notching record highs, and have spiked 30% year-to-date. Egg prices jumped 70% in a year, with high production costs nudging 12 eggs to a record price of $4.82 last month. Wholesale eggs price are lowering on a weekly basis, however, but this hasn't hit grocery stores quite yet. On the contrary, ground beef prices have fallen from record levels, resulting in a dozen eggs costing more than a pound of ground chuck. Elsewhere, orange juice prices notched record highs, surging 30% year-to-date as recent hurricanes, frost, and a plant disease hit production levels.

☆ There’s a new inflation warning for consumers coming from the supply chain
▼ + stars: | 2023-02-13 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +2 min

While many sources of supply chain inflation that stoked higher goods prices have come down sharply, including ocean freight rates and transportation fuels, bloated inventories due to a lack of consumer demand are sustaining upward pressure on warehouse rates. "But inflationary pressures remain where demand outpaces supply in 2023, including in warehousing through most of the United States, domestic parcel and labor." One reason for the imbalance between warehouse supply and demand is lack of new facilities coming into the market. The Fed is now more focused on services inflation, in particular labor prices, as it expects the pressure in goods inflation to remain downward. But the logistics issues suggest that there will be some elements of sticky inflation on the goods side of the equation.

☆ European markets open muted as investors assess monetary policy outlook
▼ + stars: | 2023-02-13 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: 1 min

European markets opened muted Monday as investors assess the economic outlook and the potential for further monetary policy tightening from the U.S. Federal Reserve. Consumer price index data released Tuesday will determine the Federal Reserve's path. The pan-European Stoxx 600 index opened 0.2% higher, with most sectors and major bourses in marginally positive territory. Travel and leisure and construction and material stocks led gains with 0.4% increases, while retail stocks were down 0.4%.

The richest Black mothers and their babies are twice as likely to die as the richest white mothers and their babies. Yet there is one group that doesn’t gain the same protection from being rich, the study finds: Black mothers and babies. The researchers found that maternal mortality rates were just as high among the highest-income Black women as among low-income white women. The richest Black women have infant mortality rates at about the same level as the poorest white women. Generally, rates for Hispanic mothers and Asian mothers track more closely with those of white mothers than Black mothers.

☆ Potential buyers are leveraging high-profile blowups like Frank and FTX to get better terms. Insiders detail how dealmaking is changing in 2023.
▼ + stars: | 2023-02-07 | by ( Paige Hagy | Bianca Chan | Carter Johnson | ) www.businessinsider.com time to read: +10 min

We don't want to look like JPMorgan,'" Jason Mikula, fintech analyst and writer behind Fintech Business Weekly, told Insider. How closely they adhere to it matters greatly in terms of if a deal is on the line," Mandelbaum told Insider. Investors pumped $132 billion globally into fintechs in 2021 and there were more than 900 fintech M&A exits, according to CB Insights. "It's now a buyer's market," Rob Brown, CEO of Lincoln International, a global investment-banking advisory firm, told Insider. One way companies might optimize the due-diligence process without cutting corners is by leaning on machines to help with the heavy lifting.

☆ The current job market is a ‘juggernaut,’ economist says. Here are 6 things to know as a jobseeker
▼ + stars: | 2023-02-03 | by ( Greg Iacurci | ) www.cnbc.com time to read: +4 min

Unemployment is at historic lowsThe unemployment rate fell to 3.4% in January — the lowest since May 1969. In fact, you'd have to go back to October 1953 to find a lower unemployment rate (3.1%). "The job market is still strong, and workers have opportunities to go out and find a job that's a better fit for them," Zhao said. "The thing that strikes me the most about the labor market is there aren't layoffs," said Mark Zandi, chief economist at Moody's Analytics. That's not necessarily a bad sign — the job market was also strong in the run-up to the pandemic.

☆ We're entering a far more complicated phase of an economic cycle, says Barclays' Meghan Graper
▼ + stars: | 2023-01-31 | 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 EmailWe're entering a far more complicated phase of an economic cycle, says Barclays' Meghan GraperMeghan Graper, global co-head of the investment grade syndicate at Barclays, and Campbell Harvey, Campbell Harvey, Fuqua School of Business finance professor, join 'Squawk Box' to discuss Tuesday's Employment Cost Index data, whether the Federal Reserve should 'stand down' and more.

☆ The dealmaking boom meant fast timelines and loose due diligence. But high-profile implosions like FTX and Frank mean would-be sellers can expect more scrutiny, insiders say.
▼ + stars: | 2023-01-27 | by ( Paige Hagy | Bianca Chan | Carter Johnson | ) www.businessinsider.com time to read: +10 min

☆ Harvard neuroscientist: The 'most underrated' skill all successful people have—'especially introverts'
▼ + stars: | 2023-01-25 | by ( Juliette Han | ) www.cnbc.com time to read: +3 min

The most underrated skill that successful people, especially introverts, have is the ability to write clearly. Before you communicate an idea or request, decide on the best format to deliver your information. For example, if you are sharing research involving complex data, then a PowerPoint displaying charts and images may be the best format. Format the email so it's easy to read on phone screens (e.g., short, bulleted sentences). If your message exceeds one page, create a separate document to attach and use the email to provide highlights.

☆ Japan's factory activity extends declines for third straight month - PMI
▼ + stars: | 2023-01-24 | by ( ) www.reuters.com time to read: +2 min

TOKYO, Jan 24 (Reuters) - Japan's manufacturing activity contracted for a third straight month in January as export weakness persisted amid a worsening global outlook, a corporate survey showed on Tuesday. The au Jibun Bank flash Japan manufacturing purchasing managers' index (PMI) was at a seasonally adjusted 48.9 in January, unchanged from the final reading in the previous month. Factory output and new orders decreased for a seventh consecutive month, although at slower paces than last month, the sub-index data showed. The au Jibun Bank flash services PMI rose to a seasonally adjusted 52.4 in January from the previous month's 51.1 final, hitting a three-month high. Overall, the au Jibun Bank Flash Japan composite PMI rose to 50.8 in January, up from last month's final 49.7 and emerging above the break-even 50 line for the first time in three months.

☆ Here's how much money you need to earn to be in the top 1% in every U.S. state
▼ + stars: | 2023-01-24 | by ( Mike Winters | ) www.cnbc.com time to read: +1 min

To be in the top 1% of earners in Connecticut, residents need an adjusted gross income of at least $955,261. However, in West Virginia, they only need to earn an AGI of $374,712 to be part of the top 1%. Coastal states like New York and California tend to have the highest earners, while top earners in more rural states like Mississippi and Arkansas make less. To calculate these numbers, the analysis updated 2018 income data from the Internal Revenue Service using 2022 Consumer Price Index data to account for inflation. States are listed in descending order, starting with the state with the highest income threshold for the top 1%.

☆ US stocks fall as investor concerns grow over looming recession and debt ceiling fight
▼ + stars: | 2023-01-19 | by ( Matthew Fox | ) www.businessinsider.com time to read: +1 min

US stocks fell on Thursday as investor concerns about a recession and the US debt ceiling linger. The US Treasury took extraordinary measures to meet the country's obligations after it hit the debt limit set by Congress. Treasury Secretary Janet Yellen believes the measures will stall a US default until June. Recession fears resurfaced after retail sales fell 1% in December, building off the 1% decline seen in November. Treasury Secretary Janet Yellen has said she expects the measures will stall a US default until around June, when pressure will be on Congress to raise the debt ceiling.

Inflation is continuing to show signs of slowing, and mortgage rates have decreased slightly in response to this news. High inflation and rate hikes from the Fed helped push mortgage rates up more than three percentage points last year. See more mortgage rates on Zillow Real Estate on ZillowMortgage calculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. But whether mortgage rates will drop in 2023 hinges on if the Federal Reserve can get inflation under control. If the Fed acts too aggressively and engineers a recession, mortgage rates could fall further than what current forecasts expect.

☆ This week's best performers include two airlines and a media stock expected to rally 48%
▼ + stars: | 2023-01-13 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

United Airlines has 5% upside to the average analyst price target and its stock is rated a buy by 48% of the analysts covering it. However, American Airlines average price target implies 4% downside and just 9% of the analysts covering it have a buy rating. Discovery to rally almost 49%, according to the average price target. The media company, which gained 16% this week, is rated a buy by 46% of the analysts covering the stock. Meanwhile, Royal Caribbean has 6% upside to the average price target and a buy rating from 42% of the analysts covering the stock.

☆ School lunch, eggs and airfare: Why inflation soared for 10 items in 2022
▼ + stars: | 2023-01-13 | by ( Greg Iacurci | ) www.cnbc.com time to read: +6 min

Here's a look at the 10 items with the largest price gains, as measured by the annual inflation rate in December. Food at school: 305.2%The price of a meal at elementary and secondary schools spiked the most in 2022, by a whopping 305%. Overall food prices have been pressured on many fronts, too, funneling into school meals. Oil prices retreated in the second half of the year, though, as fears mounted of a possible recession and an accompanying weakness in oil demand. Monthly milk production among major suppliers fell each month from September 2021 to June 2022, according to the U.S. Department of Agriculture.

Mortgage rates have ticked down somewhat following the news that inflation is continuing to show signs of slowing. High inflation and rate hikes from the Fed helped push mortgage rates up more than three percentage points last year. See more mortgage rates on Zillow Real Estate on ZillowMortgage calculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. But whether mortgage rates will drop in 2023 hinges on if the Federal Reserve can get inflation under control. If the Fed acts too aggressively and engineers a recession, mortgage rates could fall further than what current forecasts expect.

☆ December inflation data: Here's how it could move markets
▼ + stars: | 2023-01-12 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

"Like we saw following November's CPI report, markets rallied and then pulled back," Conzo explained. The central bank remains "worried about the overheating labor market," and the CPI report is "unlikely to quell those concerns." If the inflation data shows further cooling today, how does that impact your economic outlook for the year? Along with CPI data, investors are also bracing for the release of the number of US jobless claims. Coinbase stock price on Jan. 12, 2023 Markets Insider10.

☆ Social Security cost-of-living adjustments have fallen short of inflation by $1,054 since the start of pandemic
▼ + stars: | 2023-01-12 | by ( Lorie Konish | ) www.cnbc.com time to read: +3 min

That's as this year's 8.7% COLA kicks in for more than 65 million Social Security beneficiaries this month. That new data indicates Social Security beneficiaries will recover $38.70 after months of grappling with record high inflation, according to a new report from The Senior Citizens League. Average Social Security benefits fell short of inflation by about $1,054 from the start of the pandemic through 2022, according to a new analysis from the non-partisan senior group. That excludes Medicare Part B premiums, which are typically deducted directly from Social Security benefit checks. The predicament has made it more important for retirees to carefully plan for all income streams, not just Social Security.

☆ Gold firms as dollar eases ahead of U.S. inflation data
▼ + stars: | 2023-01-12 | by ( Ashitha Shivaprasad | ) www.reuters.com time to read: +2 min

SummarySummary Companies U.S. CPI due at 1330 GMT(.DXY) down 0.1%Jan 12 (Reuters) - Gold prices ticked higher on Thursday, aided by a softer dollar, while market participants awaited key U.S. inflation data that could influence the Federal Reserve's policy path. "Gold prices are very well supported as the dollar has weakened. If the inflation report is supportive for gold, then prices could move up to $1,900 level, but there might be some profit booking after that, Kedia added. Although gold is seen as an inflation hedge, rising rates increase the opportunity cost of holding bullion. On the physical front, Indian gold refiners have nearly stopped imports of gold dore, a semi-pure alloy, as grey market operators offer hefty discounts, industry officials said.

☆ Jamie Dimon says the Fed may need to hike interest rates much higher than markets expect in order to get inflation under control
▼ + stars: | 2023-01-10 | by ( Carla Mozée | ) www.businessinsider.com time to read: +2 min

The Federal Reserve may need to hike interest rates beyond the market's expectations, JPMorgan CEO Jamie Dimon told Fox Business. The Fed may have to lift the fed funds rates to 6%, while the consensus is for just above 5%. The Federal Reserve, led by Jerome Powell, raised interest rates seven times in 2022 from zero percent to a range of 4.25% to 4.5%. The Fed began to slow the pace of rate increases in December, to 50 basis points from 75 basis points. Investors widely expect the Fed to continue to downshift the size of rate increases this year.

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