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☆ Oil edges lower on 2025 supply surplus forecast, but set to notch weekly gain
▼ + stars: | 2024-12-13 | by ( ) www.cnbc.com time to read: +2 min

Oil prices inched lower on Friday as investors focused on a forecast of ample supply and shrugged off expectations of higher demand next year from Chinese stimulus measures, while eyeing another Federal Reserve interest rate cut next week. Supply is expected to exceed demand growth forecast of 1.1 million bpd, IEA said in its monthly oil market report, raising its demand forecast from 990,000 bpd last month. Three of Canada's biggest oil producers forecast higher production in 2025. Building on record production in the U.S., Goldman Sachs expects Lower 48 shale oil production to grow by 600,000 bpd in 2025 although the growth could slow if Brent falls below $70 a barrel. Chinese crude imports grew annually for the first time in seven months in November, driven by lower prices and stockpiling.

Persons: Warren Patterson, ING's, Goldman Sachs, Brent, WTI, ING's Patterson Organizations: Union Pacific, Brent, West Texas, International Energy Agency Locations: Salt Lake City , Utah, OPEC, United States, Canada, Guyana, Brazil, Argentina, U.S, Russia, Iran, Saudi Arabia, China, India

☆ Where to find solid income as interest rates cool in 2025
▼ + stars: | 2024-12-13 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +4 min

"We think now investors should be moving cash off the sidelines and going into longer-term fixed income assets." Second, investors benefit from using fixed income as a hedging component against market downturns, meaning that bonds are generating attractive interest income and longer-dated issues will see price appreciation as rates fall. However, certain corners of the fixed income market are looking attractive, and they could play a role in a diversified fixed income sleeve. For starters, Vishal Khanduja, head of broad markets fixed income at Morgan Stanley Investment Management, pointed to agency mortgage-backed securities. "Fixed income allocations may provide ballast to investors' portfolios to get through volatile periods with a little more stability."

Persons: Dominic Pappalardo, Pappalardo, Vishal Khanduja, Khanduja, Eaton Vance, they're, Morningstar's Pappalardo Organizations: Morgan Stanley Investment Management, Bond, U.S Locations: Mexico

☆ Fed to cut rates next week but signal some cautiousness about slashing more next year, says Morgan Stanley
▼ + stars: | 2024-12-13 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

"The positive signal in November inflation data will provide ample room for the Fed to cut in December," Michael Gapen, Morgan Stanley's chief economist, told clients in a Friday note. Gapen said the Fed was "very likely" to cut rates at next week's meeting before recent economic data releases. Additionally, the path for rate cuts could shift if the Fed increases its outlook for growth and inflation while lowering expectations for the unemployment rate. What's more, the median forecast could show only three rate cuts next year. "A 25bp rate cut in December is baked in the cake," he said.

Persons: Morgan Stanley, CME's, Michael Gapen, Morgan Stanley's, Gapen, Jerome Powell Organizations: Wednesday, Fed Locations: U.S

☆ Gold set for weekly gain with focus on Fed's policy decision
▼ + stars: | 2024-12-13 | by ( ) www.cnbc.com time to read: +1 min

Gold prices edged higher on Friday and were set for a weekly gain, driven by reports of top consumer China resuming gold purchases, and heightened expectations of an interest rate reduction by the Federal Reserve at its Dec. 17-18 meeting. Bullion is headed for a weekly gain and has added more than 2% so far this week. Traders' attention is now on the Fed's decision on interest rates, and they see a 96.4% chance of a 25-basis-point (bp) cut, CME's FedWatch Tool showed. Gold prices fell more than 1% on Thursday on profit-taking after the bullion briefly hit a five-week high earlier in the session. Data on Wednesday showed that consumer prices increased by the most in seven months in November cementing bets of an interest rate cut.

Persons: Matt Simpson, Gold Organizations: Federal Reserve, Traders, City Index, European Central Bank, Swiss National Bank Locations: China, U.S

☆ The Federal Reserve’s final meeting of 2024 will set the tone for markets heading into year-end — and beyond
▼ + stars: | 2024-12-13 | by ( Sarah Min | ) www.cnbc.com time to read: +5 min

Next week's Federal Reserve policy meeting, the last one in 2024, will set the tone for markets heading into year end and shed light on what investors can expect in 2025. Wall Street is certain it knows what's coming at the conclusion of the Dec. 17-18 central bank meeting. Stubborn inflation The Fed's preferred inflation gauge will also be released next week, on Friday after the Fed meeting wraps up. Continuing Jobless Claims (12/07) 8:30 a.m. GDP Chain Price final (Q3) 8:30 a.m. GDP final (Q3) 8:30 a.m. Initial Claims (12/14) 8:30 a.m. Philadelphia Fed Index (December) 10 a.m.

Persons: Joe Tigay, Tigay, JPMorgan's David Kelly, it's, Mills Organizations: Fund, Dow Jones Industrial, Nasdaq, FactSet, PCE, Investors, Trump, Micron Technology, Nike, FedEx, Darden, Index, PMI, Retail, Manufacturing, Amentum Holdings, Housing, Philadelphia Fed, . Kansas City Fed Manufacturing, Conagra Brands, PCE Deflator Locations: NAHB, Lennar, . Kansas, Michigan

☆ Coffee prices climb to near 50-year highs — and it may take years for the rally to run out of steam
▼ + stars: | 2024-12-13 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +1 min

A record-breaking rally for coffee prices shows no sign of slowing down, analysts say, with some warning it could take years for one of the world's most traded commodities to recover. Arabica coffee futures with March delivery hit a fresh intraday high of 348.35 cents per pound on Tuesday, notching their highest level in nearly 50 years. Renowned for their smooth taste and sweet flavor, arabica beans make up between 60% to 70% of the global coffee market. Robusta futures, meanwhile, also climbed to a fresh record high in late November. Robusta beans are known for their strong and bitter flavor and are typically used in instant blends.

Persons: Nayib Bukele's Organizations: Salvadoran Locations: San Salvador

☆ Canadian official threatens to cut off energy to the United States
▼ + stars: | 2024-12-13 | by ( Matt Egan | Paula Newton | ) edition.cnn.com time to read: +6 min

CNN —Canada could retaliate against President-elect Donald Trump’s threatened tariffs by shutting down energy flows to the United States, a top Canadian official warned. A full-blown trade war between the United States and Canada could ultimately damage both economies, hurting consumers and businesses on either side of the border. The United States regularly imports hydropower from Ontario, Quebec and British Columbia. Last year, the United States imported 38.9 million megawatt hours of electricity, according to the US Energy Information Administration. It’s not clear how much the United States would be hurt by the loss of Canadian oil.

Persons: Donald Trump’s, “, Doug Ford of, Ford, Trump, ” Ford, Trump’s, ”, Patrick De Haan, RJ Johnston, Johnston, ” Johnston, De Haan, Robert Yawger, It’s, Danielle Smith, ” Smith Organizations: CNN, Canadian, New York State, ”, United, Ford, The United, US Energy Information Administration, “, Columbia University’s Center, Global Energy, Mizuho Securities, Pipeline Locations: Canada, United States, Michigan, New York, Wisconsin, Doug Ford of Ontario, Canada’s, Ontario, Ottawa, The United States, Quebec, British Columbia, England, Pacific Northwest, America, Midwest, Great, Alberta, Japan, South Korea, China, Calgary

☆ A new Google AI-powered weather model could be key to the future of your forecast – but there’s a catch
▼ + stars: | 2024-12-13 | by ( Mary Gilbert | ) edition.cnn.com time to read: +20 min

A big problem to solveGenCast is a critical advancement in modeling, but like any other weather forecast model, it isn’t perfect. Jeffrey Collins/AP Len Frisbee dumps a wheelbarrow of dirt as he helps with cleanup in Hot Springs, North Carolina, on October 1. Marco Bello/Reuters Linda Bandy, left, and Carissa Sheehan clean up inside the International Moulding frame shop in Morganton, North Carolina. Jonathan Drake/Reuters Floodwaters are seen in Asheville in this image released by the North Carolina Department of Transportation on September 28. Joe Raedle/Getty Images Hurricane Helene is seen in a satellite photo on September 26.

Persons: Google’s DeepMind, DeepMind, ”, Peter Dueben, GenCast, “, Skip, Ilan Price, Price, ” Price, ” Dueben, It’s, Jonathan Drake, Reuters Martika, Helene, Erik S, Eduardo Munoz, Sean Rayford, Allison Joyce, Mike Stewart, Emily Ogburn, Cody Klein, Melissa Sue Gerrits, Sam Soughail, Van Hutchins, Dennis Rector, Josh Morgan, Andy Brown, Jeffrey Collins, Len Frisbee, Jeff Roberson, Christian Monterrosa, Marco Bello, Reuters Linda Bandy, Carissa Sheehan, Kathy Kmonicek, Janice Whitley, Terry Wilson, Melinda, Kathleen Flynn, Paul Hennessy, Gerald Herbert, Elmira Glover, Joe Raedle, John Falchetto, Cassandra Randall, Jessica Downey, Greg Lovett, Hurricane Helene, Hailey Morgan, Phelan M, Megan Varner, Sarah Cribbins, Michael, Luis Santana, Miguel J, Rodriguez Carrillo, Richard Burkhart, Mike Carlson, Candice Ocvil, Jibri Tolen, Cristobal Herrera, Candace Redwine, Guy Ford, George G, Tapper, Ricardo Arduengo, Joe Burbank, Carol Poulson, Andrew West, Cynthia Centeno, Reuters Charles Starling, Stephen M, Dowell, Chandan Khanna, Thomas Simonetti, Pete Beach, Ramon Espinosa, Paola Chiomante Organizations: CNN, European Centre, Hemisphere, Google, Reuters, Reuters Helicopters, Getty, Homes, AP, & Sons Department, USA, New York Times, Anadolu, Workers, North Carolina Department of Transportation, Tampa Bay Times, AFP, East, Savannah Morning, United States Coast Guard, Walt Disney, Orlando Sentinel, Tribune, Service, Fairview Middle School, Fishel, State Emergency Operations Center, Washington Post, NOAA Locations: Boone , North Carolina, Canton , North Carolina, Swannanoa , North Carolina, Cruso , North Carolina, Swannanoa, Bat Cave , North Carolina, Bills, , North Carolina, AFP, Lake Lure , North Carolina, Rock , North Carolina, Barnardsville , North Carolina, Lure, Asheville , North Carolina, Marshall , North Carolina, Augusta , Georgia, Springs , North Carolina, Bat, Bat Cave, Morganton , North Carolina, Old Fort, Fletcher , North Carolina, Steinhatchee , Florida, Tampa , Florida, Steinhatchee, Boone, Asheville, Treasure Island , Florida, Horseshoe Beach , Florida, Valdosta , Georgia, Horseshoe Beach, Laurel, Vilas , North Carolina, Crystal River , Florida, Hurricane, Crystal River, Peachtree Creek, Atlanta, , Florida, Savannah , Georgia, Savannah, Shore, St . Petersburg , Florida, Valdosta, Key , Florida, Tarpon Springs , Florida, Watauga, Sugar Grove , North Carolina, Florida, Port Saint Joe , Florida, Bay Lake , Florida, St . Petersburg, Fort Myers Beach , Florida, Tallahassee, Leon County , Florida, Eastpoint , Florida, Villages, Tallahassee , Florida, Gulfport , Florida, St, Cross City , Florida, Guanimar, Cuba, Panacea , Florida, Puerto Juarez, Mexico, Clearwater , Florida

☆ Asia-Pacific markets set to open higher after Nasdaq hit record highs on tame inflation data
▼ + stars: | 2024-12-12 | by ( Dylan Butts | ) www.cnbc.com time to read: 1 min

Australia Matteo Colombo | Digitalvision | Getty ImagesAsia-Pacific markets were set to open higher Wednesday, following gains on Wall Street that saw the Nasdaq Composite surge to record highs after November's inflation report met expectations. Traders in Asia will assess November jobs data from Australia, set for release later in the day. Hong Kong Hang Seng index futures were at 20,215 higher than the HSI's last close of 20,155.05. Hong Kong will release industrial production data for the third quarter later today. Japan's Nikkei 225 futures pointed to a higher open for the market, with the futures contract in Chicago at 40,035 and its counterpart in Osaka at 40,050 compared to the previous close of 39,372.23.

Persons: Matteo Colombo, Australia's Organizations: Digitalvision, Getty, Nasdaq, Traders, Reuters, Nikkei Locations: Asia, Pacific, Australia, Hong Kong, Chicago, Osaka

☆ Inflation reckoning coming in 2025? Investors continue to ignore recent stubborn readings
▼ + stars: | 2024-12-12 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +1 min

While stocks fell slightly on Thursday, investors are mostly ignoring recent reports showing inflation is still a very real problem. But Bank of America thinks they may be forced to in the new year as inflation gets even worse. "The potential policy changes on the horizon — higher tariffs, deficit-financed tax cuts, and tighter immigration policy — could all put upward pressure on prices. Inflation similarly perked up in October , with the CPI increasing 0.2% for the month to 2.6%, up 0.2 percentage points from September. "A pause in January is likely in our view, and the risk is that policy changes could make that pause a lengthy one."

Persons: Stephen Juneau, Dow Jones, Juneau Organizations: Bank of America, of Labor Statistics, Federal Reserve

☆ Dow futures are little changed after index posts longest losing streak since April: Live updates
▼ + stars: | 2024-12-12 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Dow futures were little changed in overnight trading Thursday following a losing session on Wall Street. S&P 500 futures hovered near the flatline, while Nasdaq-100 futures rose 0.4%, respectively. The overnight moves come on the heels of a losing session on Wall Street. The Nasdaq Composite fell nearly 0.7% and broke below the 20,000 mark as technology stocks such as Nvidia slumped, while the S&P 500 edged down about 0.5%. For the week, the Dow is heading for a 1.6% decline, while the S&P 500 is on pace for slide of 0.6%.

Persons: Dow, Dow Jones, Joe Terranova, it's Organizations: New York Stock Exchange, Dow, Futures, Dow Jones, Nasdaq, Broadcom, Nvidia, Virtus Investment Partners

☆ Gold eases on profit taking after scaling more than one-month peak
▼ + stars: | 2024-12-12 | by ( ) www.cnbc.com time to read: +1 min

Gold slipped on Thursday as investors booked profits after prices hit more than one-month high earlier in the day on increased expectations of an interest rate cut by the Federal Reserve next week. Spot gold shed 0.5% to $2,704.41 per ounce, as of 0257 GMT. According to CME's FedWatch Tool, traders now see a 98.4% chance of a 25-basis-points Fed rate cut on Dec. 18, compared with an about 86% odds before the U.S. inflation report. Meanwhile, the European Central Bank is all but certain to cut rates again on Thursday and signal further easing in 2025. The bullion is seen as a safe investment during economic and geopolitical turmoil and thrives in a low interest rate environment.

Persons: Gold, we've, Ajay Kedia, CME's, Price Organizations: Federal Reserve, Kedia Commodities, European Central Bank, United Nations General Assembly, Hamas Locations: China, Mumbai, U.S, Israel, Gaza

☆ Wholesale prices rose 0.4% in November, more than expected
▼ + stars: | 2024-12-12 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

A measure of wholesale prices rose more than expected in November, adding fuel to the belief that progress in bringing down inflation has slowed, the Bureau of Labor Statistics reported Thursday. The producer price index, which measures what producers get for their products at the final-demand stage, increased 0.4% for the month, higher than the Dow Jones consensus estimate for 0.2%. On an annual basis, PPI rose 3%, the biggest advance since February 2023. Despite the seemingly stubborn state of inflation, markets overwhelmingly expect the Federal Reserve to lower its key overnight borrowing rate next week. The four-week moving average of continuing claims, which smooths out weekly volatility, rose to its highest level in just over four years.

Persons: Dow Jones, payrolls Organizations: of Labor Statistics, PPI, Labor Department, BLS, Federal Reserve, Stock, Treasury, CME Group

☆ A key pillar of Russia's wartime economy could soon be taking another hit
▼ + stars: | 2024-12-12 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

The global oil markets are weighed down by ample supply and demand concerns, in part due to China's flagging economy. "So the global oil market is softer and that creates possibly an opportunity to take some further action," Yellen said. The US has been tightening its noose on Russian energy revenues. The measures have allowed the global energy markets to continue functioning in an orderly fashion — which prevents price shocks and inflation — but still limit Russia's oil revenue. In November, Russia's oil revenue fell 21% from a year ago amid weak energy prices, according to Bloomberg calculations based on official data.

Persons: Yellen, Janet Yellen, Biden, Dmitry Peskov Organizations: Bloomberg, Bloomberg TV, Brent, US West Texas, Kremlin, US Locations: Russia, Macquarie, Russian, Ukraine, India, China

☆ Oil little changed as demand weakness offsets sanctions-driven supply risks
▼ + stars: | 2024-12-12 | by ( ) www.cnbc.com time to read: +2 min

Oil prices were little changed in early Asian trade on Thursday as forecasts of weak demand and a higher-than-expected rise in U.S. gasoline and distillate inventories stemmed gains from an additional round of European Union sanctions that threatened Russian oil flows. OPEC cut its demand growth forecasts for 2025 for the fifth straight month on Wednesday and by the largest amount yet. Weak demand, particularly in top importer China, and non-OPEC+ supply growth were two factors behind the move. However, investors anticipate a rise in Chinese demand, after Beijing unveiled plans this week to adopt an "appropriately loose" monetary policy in 2025, which could spur oil demand. The Kremlin said that reports of a possible tightening of U.S. sanctions on Russian oil suggested the administration of President Joe Biden wants to leave a difficult legacy for U.S.-Russia relations.

Persons: Joe Biden, Janet Yellen Organizations: Montebello Oil, Union, . West Texas, OPEC, ANZ, Energy Information Administration, China, U.S . Federal Reserve, European Union, Ukraine Locations: Montebello, Montebello , California, United States, OPEC, Beijing, Russia

☆ Stifel says a 10%-15% S&P 500 correction is coming because of sticky inflation
▼ + stars: | 2024-12-12 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Stocks could be in store for a correction in 2025 as inflation remains persistently above the Federal Reserve's 2% target, according to Stifel Financial. The firm cited stubborn price pressures alongside sluggish growth in gross domestic product as key catalysts for its S & P 500 forecast, with Bannister seeing real U.S. GDP slowing to about 1.5% by the middle of 2025. He forecast two more rate reductions in 2025 before the Fed ultimately concludes cutting rates in the second half of 2025. Bannister's forecast comes as stocks have lately cooled in response to a lack of progress in bringing inflation down further. The S & P 500 has advanced more than 27% in 2024, the Nasdaq Composite has gained more than 32%, and the Dow Jones Industrial Average is up 17%.

Persons: Barry Bannister, Bannister Organizations: Healthcare, Utilities, Staples, Reserve, Funds, Nasdaq, Dow Jones

☆ How Trump's 'border czar' is envisioning his mass deportation plan: From the Politics Desk
▼ + stars: | 2024-12-11 | by ( The Politics Desk | ) www.nbcnews.com time to read: +11 min

In today’s edition, political embed Alec Hernández sifts through 20 interviews Donald Trump's incoming "border czar," Tom Homan, has done to get a clearer sense of his mass deportation plans. Plus, chief political analyst Chuck Todd breaks down the opportunities and challenges facing Mike Duggan's independent bid for Michigan governor. In the past month, he has done at least 20 interviews, which have all been reviewed by NBC News. Tasked with coordinating Trump’s core campaign promise of a mass deportation, Homan has used the appearances to begin detailing how the efforts might take shape and how the administration will move its plan forward. While they are far from painting a complete picture, the interviews have given more specifics than have been offered about the deportation policy in the past.

Persons: Alec Hernández sifts, Donald Trump's, Tom Homan, Chuck Todd, Mike Duggan's, Alec Hernández, Donald Trump’s, Homan, Trump, “, David Webb, The Defense Department “, ” Homan, noncooperation, “ I’ve, you’re, ”, Read, Mike Duggan, he’s, Gretchen Whitmer isn’t, Jocelyn Benson, Garlin Gilchrist, Duggan, there’s, aren’t, Dan Gilbert, Jamie Dimon, Gilbert, Dimon, Benson, Gilchrist, Pete Buttigieg, —, Chuck → 🗞️, ️, ej, ove Organizations: NBC, White House, Capitol, Michigan, Senate, White, NBC News, ., The Defense Department, Fox Business, Cooperation, Trump, Democratic, ICE, Fox News, Detroit, Democrat, Gov, Rocket Mortgage, JPMorgan Chase Locations: Washington, Michigan, Detroit

Tasked with coordinating Trump’s core campaign promise of a mass deportation, Homan has used the appearances to begin detailing how the efforts might take shape and how the administration will move its plan forward. Homan has not been as direct as Trump has about how he sees the military’s role in the operation he will oversee. Tom Homan, who does not have to face Senate confirmation, has been going on Fox News and other conservative outlets to talk about Trump's plans on immigration. Funding mass deportationA major outstanding question, however, remains how the incoming Trump administration would fund a deportation scheme at that large a scale. “For those governors and mayors who are saying they’re going to stop Tom Homan, they’re going to stop President Trump: Shame on you,” Homan said on Fox News on Nov. 20.

Persons: Donald Trump’s, Tom Homan, Homan, Trump, Sen, JD Vance, Ohio, ” Homan, Fox News ’ “ Hannity, “, we’re, ”, “ Ingraham Angle, “ I’m, they’ll, Joe Biden, Lloyd Austin, Biden, David Webb, The Defense Department “, Melina Mara, I’ve, “ I’ve, Phil McGraw, Phil, McGraw, we’ve, you’re, Jesse Watters ’, Pam Bondi, It’s, Greg Abbott, ’, José Raúl Mulino, Eric Adams, Adams, Adams “, We’re, I’m, Ingraham, Kristen Welker, noncooperation, they’re, doesn’t Organizations: Senate, White, ICE, Trump, NBC News, “, Fox News, Democratic, Defense, The Defense Department, DOD, Washington, Getty, Fox Business, CBP, Customs, Cooperation, White House, Jesse Watters ’ Fox News, Gov, New York, Yorkers, Republicans, Politico, CBS, ’, NBC, Press Locations: Eagle, , Texas, New York, Chicago, “ Chicago

☆ Oil prices edge up on demand hopes from China's 'looser' monetary policy
▼ + stars: | 2024-12-11 | by ( ) www.cnbc.com time to read: +1 min

Oil prices rose slightly early on Wednesday, with market participants expecting to see demand rising in China next year after Beijing announced a looser monetary policy to stimulate economic growth. China said on Monday it would adopt "appropriately loose" monetary policy in 2025 as Beijing tries to spur its economy with the first easing of its stance in 14 years. In the U.S., crude oil and fuel stocks rose last week, market sources said on Tuesday, citing American Petroleum Institute figures on Tuesday. Gasoline inventories rose by 2.85 million barrels, and distillate stocks rose by 2.45 million barrels, they said. Official data on oil stocks from the U.S. Energy Information Administration is due on Wednesday at 10:30 a.m.

Persons: Mukesh Sahdev Organizations: Beijing, Brent, U.S, West Texas, Trump, Rystad Energy, American Petroleum Institute, U.S . Energy, Administration, Reuters Locations: Seminole , TX, U.S, China, Beijing

☆ Stock futures are flat after Nasdaq notches record close above 20,000: Live updates
▼ + stars: | 2024-12-11 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

A trader works on the floor of the New York Stock Exchange (NYSE) at the opening bell on November 26, 2024, in New York City. U.S. stock futures were little changed Wednesday night after the tech-heavy Nasdaq Composite finished above the 20,000 level for the first time. Futures tied to the Nasdaq 100 slipped around 0.2%. During Wednesday's regular trading session, the Nasdaq gained around 1.8%, topping the 20,000 threshold and posting an all-time high and a closing record. Fed funds futures trading data reflects a nearly 99% likelihood that central bank policymakers will lower rates next week, according to the CME FedWatch tool.

Persons: Mark Hackett, Hackett, Dow Jones Organizations: New York Stock Exchange, Nasdaq, Dow Jones Industrial, Adobe, Dow, Nationwide, Federal Reserve, Broadcom, Costco Locations: New York City . U.S

☆ Here’s the Wall Street chatter after the CPI data
▼ + stars: | 2024-12-11 | by ( Fred Imbert | ) www.cnbc.com time to read: +3 min

It's still all clear for the Federal Reserve next week to cut rates again. The consumer price index in November rose 0.3% month over month and 2.7% year on year, the Bureau of Labor Statistics said Wednesday. Core CPI, which strips out volatile food and energy prices, increased 0.3% from October and 3.3% from the year earlier period. But stock futures traded slightly higher before the bell — as the new data is unlikely to dissuade the Fed from its cutting campaign. But it's unmistakable that the last four months with core up 0.3% month over month is a trend."

Persons: It's, Dow, Josh Hirt, Whitney Watson, Alicia Levine, Peter Boockvar, Skyler Weinand, Regan, Jason Bazinet Organizations: Federal Reserve, of Labor Statistics, CPI, Dow Jones, Vanguard, Federal, Goldman Sachs Asset Management, BNY, Bleakley Financial, Fed, Citi

☆ Gold touches two-week peak; U.S. inflation data in focus
▼ + stars: | 2024-12-11 | by ( ) www.cnbc.com time to read: +2 min

Gold prices scaled a two-week peak on Wednesday, supported by escalating geopolitical tensions and expectations of another rate cut by the U.S. Federal Reserve next week, and ahead of the closely watched U.S. inflation report later in the day. Spot gold was up 0.2% at $2,698.47 per ounce, as of 0253 GMT, and hit its highest since Nov. 25. Investors' focus is on the U.S. Consumer Price Index (CPI), which is expected to have risen by 0.3% in November. Gold is considered a safe investment during economic and geopolitical turmoil and tends to thrive in a low-interest-rate environment. Spot silver added 0.1% to $31.93 per ounce, platinum gained 0.5% to $947.55 and palladium rose 0.7% to $975.19.

Persons: Kyle Rodda, Goldman Sachs Organizations: U.S . Federal Reserve, Investors, U.S . Consumer, Index, Reuters, South Korean Locations: Syria, Central

☆ Asia-Pacific markets set to open mostly higher as investors await key policy meeting in China
▼ + stars: | 2024-12-11 | by ( Anniek Bao | ) www.cnbc.com time to read: +1 min

BEIJING, CHINA - SEPTEMBER 04: Buildings and vehicles are seen in the central business district during the rush hour on September 4, 2020 in Beijing, China. Asia-Pacific markets were set to open mostly higher Wednesday, after Wall Street declined overnight with all three major indexes dropping ahead of key inflation data that could influence the Federal Reserve's interest rate decision. South Korea's unemployment rate came in at 2.2% in November, according to the Statistics Korea. China is also set to kick off its annual economic work conference on Wednesday to outline its economic policies for next year. Hong Kong's Hang Seng index futures were at 20,435, higher than the HSI's last close of 20,311.28.

Persons: Australia's Organizations: Wall, Statistics, Nikkei Locations: BEIJING, CHINA, Beijing, China, Asia, Pacific, Statistics Korea, Chicago, Osaka

☆ European markets set for negative open as traders await U.S. inflation data
▼ + stars: | 2024-12-11 | by ( Holly Ellyatt | ) www.cnbc.com time to read: 1 min

European markets are heading for a negative open as traders await the latest U.S. inflation data Wednesday. The U.S consumer price index data will likely influence how the Federal Reserve proceeds on interest rates at its Dec. 17-18 meeting. Economists polled by Dow Jones forecast that headline inflation rose 0.3% in November and 2.7% over the prior 12 months. Asia-Pacific markets were mixed Wednesday, after major Wall Street benchmarks declined Tuesday ahead of the data, while U.S. stock futures were near flat Tuesday night. Earnings are set to come from Inditex and OPEC releases its latest monthly oil market report Wednesday.

Persons: Dow Jones Organizations: Federal, Dow Locations: U.S, Asia, Pacific, Inditex

☆ Wall Street is eyeing this key inflation level to see if the Fed will keep cutting interest rates
▼ + stars: | 2024-12-10 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

Traders are growing increasingly confident that the Federal Reserve will cut interest rates again next week. Others on Wall Street think the bar may be even higher for the central bank to hold rates where they are. Currently, trading in the Fed funds futures market suggests an 86% likelihood of a rate cut next week, according to the CME FedWatch Tool. Concerns about the labor market and political perception could be two key reasons for the Fed to keep cutting. "We also think cutting is the path of least resistance from a political perspective," BofA's Bhave said.

Persons: Dow Jones, Aditya Bhave, BofA's Bhave, Powell, Michael Bloom Organizations: Federal Reserve, CPI, PPI, Bank of America U.S, Fed

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