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☆ Gold eyes second straight weekly rise; spotlight on U.S. payrolls
▼ + stars: | 2024-07-05 | by ( ) www.cnbc.com time to read: +2 min

Gold prices edged up on Friday and were set for a second straight weekly gain, while traders awaited U.S. employment data to gauge the trajectory of the Federal Reserve's potential interest rate cuts. Gold prices edged up on Friday and were set for a second straight weekly gain, while traders awaited U.S. employment data to gauge the trajectory of the Federal Reserve's potential interest rate cuts. Spot gold rose 0.2% at $2,359.73 per ounce, as of 0204 GMT and was up more than 1% for the week. "Gold has been in consolidation mode above $2,300, which bodes well for potential further price gains once we eventually move towards a lower interest rate environment." Palladium gained 0.4% to $1,021.75 and headed for a third consecutive weekly gain.

Persons: Tim Waterer, KCM, nonfarm, Waterer Organizations: Federal, U.S, Traders, FedWatch

☆ Ron Insana: Why this jobs report should spur the Fed to cut rates in July
▼ + stars: | 2024-07-05 | by ( Ron Insana | ) www.cnbc.com time to read: +3 min

It's time for the Fed to cut rates at the end of July. Add to that the moderation in the consumer price index , the producer price index and the personal consumption expenditures price index – the Fed's preferred inflation gauge – and the need to wait for further signs of improvement seems like overkill. Also, if the Fed dials back policy later – rather than sooner – there will be claims of political interference if it cut rates immediately before the presidential election. The central bank has been dealing with an economy-crashing pandemic, a surge in prices and uncertainty over how its policies would affect the broad economy, inflation and consumer behavior over time. This is a factor that will likely drive inflation rates lower.

Persons: Adrian –, –, Mickey, Dow Jones, Joe Biden, Adrian . Go, Ron Insana Organizations: Federal Reserve, Fed, Dow, New York Federal, Atlanta, CNBC

☆ The pool party’s over as Americans ease up on backyard upgrades
▼ + stars: | 2024-07-04 | by ( Davis Giangiulio | ) www.cnbc.com time to read: +5 min

Americans will be splashing around this summer in the backyard pools they've already got, but not splashing out as much on new ones. Swimming pool installations were part of the home improvement frenzy that swept the country during the pandemic as Americans were stuck at home. Pool Corp., a national pool equipment distributor with a roughly $11 billion market valuation, said last week it expects new pool construction to fall by 15% to 20% this year. But businesses that rely on Americans' appetite for home upgrades are still adjusting to leaner times — including pool builders. In Arizona, Ast said, "the lines get blurred a little bit between luxury and need in the middle of the desert."

Persons: Skip Ast, wasn't, Scott Payne, Payne Organizations: Pool Corp, Shasta, Airlines, Analytics, Ast, Corp Locations: Phoenix, Hatfield , Pennsylvania, Shasta, Arizona

☆ S&P 500 futures are little changed as investors await jobs data: Live updates
▼ + stars: | 2024-07-04 | by ( Alex Harring | ) www.cnbc.com time to read: +1 min

Traders work on the floor of the New York Stock ExchangeS&P 500 futures are near flat Thursday night as investors readied for Friday's closely watched jobs report. Futures connected to the broad index sat near their flatline, while Nasdaq 100 futures slipped 0.1%. Futures tied to the Dow Jones Industrial Average added 19 points, or 0.1%. Economists polled by Dow Jones are forecasting nonfarm payroll adds of 200,000 jobs in June and the unemployment rate to hold steady at 4%. "Friday's payroll report should help clarify the underlying strength of the labor market," said Quincy Krosby, chief global strategist at LPL Financial.

Persons: Dow Jones, Quincy Krosby Organizations: New York Stock Exchange, Nasdaq, Dow Jones, Federal, Institute for Supply Management, LPL, Dow

☆ Oil prices slip after data points to cooling U.S. economy
▼ + stars: | 2024-07-04 | by ( ) www.cnbc.com time to read: +1 min

Oil prices fell in early trade on Thursday after U.S. employment and business activity data came in weaker than expected, in signs the economy may be cooling in the world's top oil consuming nation. Separately, the ADP Employment report showed private payrolls increased by 150,000 jobs in June, below a consensus predicting an increase of 160,000, and after rising by 157,000 in May. However, weaker economic data may add to the Federal Reserve's arguments to start cutting rates, analysts said, a move that would be supportive for the oil markets as lower rates could boost demand. "The direction of recent data conforms to the Fed's easing bias," ANZ Research analysts said in a note. "A slowdown in growth momentum will support disinflationary impulses in coming months, paving the way for the Fed to cut rates."

Organizations: Brent, U.S, West Texas, ADP, ISM, ANZ Research, Fed Locations: United States

☆ Gold at near 2-week high as soft U.S. data lifts Fed rate-cut bets
▼ + stars: | 2024-07-03 | by ( ) www.cnbc.com time to read: +2 min

Gold prices were flat on Wednesday as investors awaited minutes of the Federal Reserve's last policy meeting for fresh cues on when the U.S. central bank will start cutting interest rates. Gold prices rose more than 1% to a near two-week high on Wednesday, driven by increased bets for a September interest rate cut by the Federal Reserve after recent U.S. data suggested that the labor market was softening. "Bulls are trying to get ahead of what many believe will finally be a weak payrolls report on Friday," he added. [USD/The market now sees a 68% chance of the Fed cutting interest rates in September as well as another cut in December. Elsewhere, spot silver rose 3.4% to $30.52 per ounce, platinum gained 1.8% to $1,008.50 and palladium climbed 2.7% to $1,049.

Persons: Tai Wong Organizations: Federal Reserve, Bulls Locations: U.S, New York

☆ Powell's signaling steady interest rates through the November election, says DCLA's Sethi
▼ + stars: | 2024-07-03 | 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 EmailPowell's signaling steady interest rates through the November election, says DCLA's SethiSarat Sethi, DCLA managing partner and portfolio manager, joins 'Squawk on the Street' to discuss how much the Federal Reserve's rate path still matters, how long it could take the economy to reach 2% on inflation, and more.

Persons: DCLA's Sethi Sarat Sethi, DCLA

"We see softness in data — permits, starts, sales and prices all recently below expectations — potentially continuing in 2H," the analyst wrote. The bank initiated the health care tech stock with an overweight rating and a December 2025 price target of $24. "Waystar is a vertical, cloud-based software company focused on automating, digitizing, and enhancing revenue cycle management functions," wrote analyst Anne Samuel. Analyst Daniel Politzer reiterated his overweight rating on the casino and resort stock but lowered his price target to $58 from $60. The analyst wrote that he sees "the current valuation as an attractive entry point into what we view as one of the most durable companies in our coverage."

Persons: Piper Sandler, Mizuho, Piper Sandler downgrades CrowdStrike Piper Sandler, Rob Owens, Owens, CrowdStrike, Lisa Kailai Han, downgrades Goldman, Jim Mitchell, Goldman Sachs, Mitchell, Goldman, — Jesse Pound, Brandt Montour, Montour, VIK, — Hakyung Kim, Anthony Pettinari, Pettinari, — Lisa Kailai Han, Guggenheim, Tesla, Ronald Jewsikow, Keith Gill, Gill, he's, Kitty, Musk, Jewsikow, Waystar, Anne Samuel, Samuels, Jessica Reif Ehrlich, Ehrlich, Wells, Daniel Politzer, Politzer, GGR, WYNN est's, —, Mizuho Mizuho, James Lee, Lee, Fred Imbert Organizations: CNBC, Seaport, of America, downgrades Goldman Sachs Seaport Research, Bank of America, Barclays, Viking Holdings, American Baby Boomers, Citi, Federal, Securities and Exchange Commission, JPMorgan, Nasdaq, Spotify, Spotify Technology, Las Vegas, Vegas, Macau GGR, Intelligence, Amazon Locations: Amazon, SIEM, Lennar, 2H, Chewy, Europe, China, Las, Las Vegas Sands, Macau, Bay Sands, Singapore, Atlassian, Monday's

☆ The number of Gen Zers who aren't in work or school is rising. Here's how to tackle it, according to experts.
▼ + stars: | 2024-07-02 | by ( Lindsay Dodgson | ) www.businessinsider.com time to read: +8 min

Read previewA growing number of young people globally are struggling to stay in work or school. "They are searching for places where they can be true to themselves, where mental health is not looked down upon but helped, and where working sometimes from home or a coffee shop is possible." AdvertisementRather than jump on the first opportunities that come along, voluntary NEETs are holding back for the right job. Better guidanceOther career experts agreed that development should start early so students understand the variety of different paths available to them. Experts remain divided over how to address the rise in NEETs, in part because no solution would work for all.

Persons: —, Louis, there's, Sen, Tim Kaine, who's, Nezih Allioglu, Michaela Wright, Friederike Fabritius, Fabritius, Fabritus, Kleeman Organizations: Service, International Labour Organization, Louis Federal Reserve's Institute for Economic Equity, Business, European Commission, Young Enterprise, Governance Association, New Workforce, Prince's, Labour Force Survey, Sustainability, HSBC UK, Google, Deloitte, WSJ Locations: NEETs, NEETS

☆ Taiwan tops Asia's best-performing stock markets so far in 2024 — Japan is No. 2
▼ + stars: | 2024-07-01 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +5 min

A screen displays stock figures at the Taiwan Stock Exchange Corp. headquarters in Taipei, Taiwan, on Monday, Jan. 15, 2024. The Taiwan Weighted Index has surged 28% so far this year, powered by stocks along the AI value chain. While Taiwan may lead Asian markets, Japan seems to be the favored market going forward, among analysts who spoke to CNBC. While most Asian markets are in positive territory year-to-date, three stock markets — Thailand, Indonesia and the Philippines — fell into negative territory. The CME FedWatch tool indicates that 61% of traders expect the Fed to cut rates by 25 basis points in the September meeting.

Persons: Foxconn —, Hai Precision Industry —, Rahul Ghosh, Rowe Price, Ghosh, Ben Powell, Powell, Neel Kashkari, Ken Orchard Organizations: Taiwan Stock Exchange Corp, Bloomberg, Taiwan Semiconductor Manufacturing Corp, Hai Precision Industry, Intelligence, Nikkei, CNBC, BlackRock Investment Institute, Bank of Japan, Federal, U.S, Fed, Minneapolis Federal Locations: Taipei, Taiwan, Asia, Pacific, Japan, BlackRock, Thailand, Indonesia, Philippines, Jakarta, Philippine, U.S

☆ Shares of Wells Fargo and Morgan Stanley rise on plans to raise their dividends
▼ + stars: | 2024-07-01 | 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. Shares of Morgan Stanley and Wells Fargo climbed 1% and 0.7%, respectively, after the banks announced a boost to their dividend payouts Friday evening. 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, Raymond James, Morgan Stanley, Wells Fargo, Wells, necrotizing, Abbott, Jim Cramer's, ABT, Jim Organizations: CNBC, Facebook, Federal, Barclays, Abbott Labs, Wall Street

☆ Investors wondering if the S&P 500's strong year can continue should watch this key chart metric, says Bank of America
▼ + stars: | 2024-07-01 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

Investors deliberating whether the stock rally can continue in the second half of 2024 should keep an eye on the 200-day moving average, according to Stephen Suttmeier, technical research strategist at Bank of America Securities. The indicator, which is used by chart analysts to determine long-term trends, has been positive during the first six months of the year — as the S & P 500 surged 15% to record levels. The broad market index did not have a single daily close below its 200-day moving average in the first half. However, if the S & P 500 falls below its 200-day moving average in the second half of 2024, that will mean weaker returns, the technician said. "[This] scenario shows average and median returns of 0.60% (SPX 5490) and 2.43% (SPX 5590), respectively," the technician said.

Persons: Stephen Suttmeier, Suttmeier, Stocks, Donald Trump Organizations: Bank of America Securities, U.S, Federal Reserve

☆ From used cars to airfare: 5 purchases that are cheaper than last year, even as prices rise overall
▼ + stars: | 2024-06-30 | by ( Mike Winters | ) www.cnbc.com time to read: 1 min

Prices for commonly purchased items such as groceries and diapers keep going up — or at least it feels that way. But with inflation cooling off over the last year, a few things have actually gotten cheaper. The discounts are a welcome relief for Americans who have weathered the cost of goods and services increasing 17% over the past three years, as measured by the consumer price index. At 3.3%, the year-over-year inflation rate is still above the Federal Reserve's target of 2%, but price decreases are an encouraging sign that costs are trending in the right direction. Here's a look at the most significant discounts in the past year, expressed as percentages.

☆ S&P 500 returns 15% in the first half in an unusually smooth ride
▼ + stars: | 2024-06-29 | by ( Michael Santoli | ) www.cnbc.com time to read: +8 min

A 15% year-to-date total return in the S & P 500 is the 21 st best run through June since 1900, according to Goldman Sachs. The S & P 500 since the October 2023 correction low is up 33% for an annualized total return pace of 56%. The S & P has gone eight sessions without a move of as much as half a percent. True in magnitude: The market-cap-weighted S & P 500 has outgained its equal-weighted version by more than ten percentage points this year. Not only haven't up days been broadly inclusive, the direction of the S & P 500 has been running inverse to the daily breadth over the past month.

Persons: Goldman Sachs, Sharpe, it's, we'd, I've, What's, Jeff deGraaf, Trump, We've, Poor's, what's Organizations: Nvidia, Walgreens, Nike, Apple, Technology, Communication Services Locations: hiccups

☆ Jobs and beer: 3 labor reports and an earnings release are the big events next week
▼ + stars: | 2024-06-29 | by ( Zev Fima | ) www.cnbc.com time to read: +8 min

The U.S. stock market will be closed Thursday for the Fourth of July holiday. Economic data The main event is Friday's June nonfarm payrolls report, which is among the most important monthly data releases for investors. The ADP report isn't as market moving as the nonfarm payrolls report, but expect investors to use to game the nonfarm payrolls report out later in the week. The June ISM Services report on Wednesday also will shed light on services in the U.S. economy. ET: Nonfarm Payrolls (Jim Cramer's Charitable Trust is long STZ.

Persons: Dow, we're, Jim Cramer, Donald Trump, Joe Biden, Democrats —, Thursday's, —, we'll, nonfarm payrolls, Dow Jones, Payrolls, Jim Cramer's, Jim, Michael Nagle Organizations: Nasdaq, Dow Jones, Walgreens, Nike, Republicans, Democrats, Energy, Utilities, Constellation Brands, Labor, Corona, Cinco, Industrial, Markets, CNBC, Bloomberg, Getty Locations: U.S

Inflation slowed last month according to the Federal Reserve's preferred measure, which means mortgage rates could soon trend down. As inflation slows and the Fed is able to start lowering the federal funds rate, mortgage rates are expected to decrease. See more mortgage rates on Zillow Real Estate on ZillowMortgage Refinance Rates TodayMortgage type Average rate today This information has been provided by Zillow. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. As inflation slows and the Federal Reserve is able to start cutting the federal funds rate, mortgage rates are expected to trend down as well.

Persons: Fannie Mae Organizations: Federal, Commerce Department, Zillow, Federal Reserve, Mortgage, Association, ARM Locations: April's, Chevron

☆ Treasury yields inch higher ahead of PCE inflation data
▼ + stars: | 2024-06-28 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

ET, the yield on the 10-year Treasury was up by one basis point to 4.2980%. The 2-year Treasury yield was last at 4.7244% after rising by less than one basis point. U.S. Treasury yields were slightly higher on Friday as investors awaited the latest personal consumption expenditures price index, the Federal Reserve's favored inflation measure. Investors are looking to the release of the latest inflation data that could provide hints about the state of the economy and the path ahead for monetary policy. Federal Reserve policymakers have frequently indicated they would only move to cut rates once data showed that inflation was easing toward the 2% target.

Persons: Michelle Bowman Organizations: Treasury, Federal, PCE, Reserve, Traders

☆ Dollar barges past 161 yen and eyes quarterly rise
▼ + stars: | 2024-06-28 | by ( ) www.cnbc.com time to read: +2 min

The dollar was headed for a second straight quarterly gain and jumped to a near four-decade high on the battered yen in Asia trade on Friday, ahead of a crucial U.S. inflation reading. The dollar was headed for a second straight quarterly gain and jumped to a near four-decade high on the battered yen in Asia trade on Friday, ahead of a crucial U.S. inflation reading. At 172.37 per euro it traded at a lifetime low on the common currency as yen bears test authorities' resolve. The New Zealand dollar dipped 0.3% to $0.6065 on Friday, but was up 1.5% for the quarter. The U.S. dollar index was 0.2% stronger at 106.07 on Friday for a 1.5% quarterly rise.

Persons: Ray Attrill, Donald Trump, Joe Biden, Biden, NAB's Attrill Organizations: Republican, Democratic, New Zealand, U.S, Federal Locations: Asia, Tokyo, Australia, Sydney, Atlanta, U.S

☆ Why Jim Cramer wants to buy more Disney — plus Wall Street praises our newest stock
▼ + stars: | 2024-06-28 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +5 min

Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Disney on radar: Shares of Club name Disney dropped 3% on Friday, breaching the $100 level that Jim Cramer has in recent weeks identified as a favorable price to buy more stock. Solar praise: Analysts at Susquehanna offered upbeat commentary Friday on our newest stock: Nextracker , which joined the portfolio a day earlier . As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Disney Cruise Line's Disney Dream is seen docked in Port Canaveral, Florida, on July 30, 2021.

Persons: Jim Cramer, Dow, Jim, Jim's, Donald Trump's, Trump, Cramer, Jerome Powell, he's, Powell, Joe Biden, Morgan Stanley, Jim Cramer's, Joe Burbank, Mark Gauert Organizations: CNBC, ., Federal, Nasdaq, Dow Jones, Nike, Dow, Nvidia, Apple, Broadcom, Disney, House, Trump, Susquehanna, Microsoft, Jim Cramer's Charitable, Disney Cruise, Orlando Sentinel, Tribune, Service, Getty, Sun Sentinel Locations: U.S, Nextracker, Wells Fargo, Port Canaveral , Florida

☆ Americans are obsessed with the economy. Here are the tiny bits Trump and Biden said about Social Security and inflation.
▼ + stars: | 2024-06-28 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

The first presidential debate came and went, and voters gained little additional insight into each candidate's economic visions. The latest Social Security and Medicare Board of Trustees report found that the program will only be able to pay out full benefits for the next 11 years. Trump, on the other hand, said Biden is going to "destroy Social Security" and did not offer any insight into how he might address the program. Save Social Security, don't destroy it." AdvertisementUltimately, the major takeaway from the night was not the candidates' economic stances, despite it being a top issue for voters.

Persons: —, Donald Trump, Joe Biden, Biden, Trump, Nobody's, — Biden Organizations: Service, May's, Business, Biden, Voters, Security, Social Security, Social

☆ European stocks set to open higher as investors await fresh inflation data
▼ + stars: | 2024-06-28 | by ( Karen Gilchrist | ) www.cnbc.com time to read: 1 min

LONDON — European stocks are poised to open higher Friday as investors look ahead to key inflation data from the euro zone and U.S. Regional stocks ended the previous session lower, as retail was dragged lower after a profit miss for H&M. Markets are watching out for fresh inflation data from France, Italy and Spain later in the session, while Germany releases unemployment figures and retail sales. Asia-Pacific markets climbed on Friday as investors assessed key economic data out of Japan. Meanwhile, U.S. stock futures were mixed ahead of the release of May's core personal consumption expenditures price index, the U.S. Federal Reserve's preferred inflation gauge, Friday morning.

Organizations: Regional, U.S, U.S . Federal Locations: U.S, France, Italy, Spain, Germany, Asia, Pacific, Japan, U.S .

☆ Stock market today: Indexes rise as traders cheer cooler PCE inflation
▼ + stars: | 2024-06-28 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

US stocks rose Friday as traders took in new inflation data from the Fed's preferred price gauge. PCE inflation cooled to 2.6% last month, the lowest pace of price growth in three years. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementUS stocks jumped on Friday as traders took in fresh inflation data, which showed price pressures continuing to cool off in May. Here's where US indexes stood shortly after the 9:30 a.m. opening bell on Friday:AdvertisementIn commodities, bonds, and crypto:

Persons: —, Seema Shah Organizations: Service, Treasury, Federal, Asset Management, Nasdaq, Nvidia Locations: PCE, Here's

☆ Key Fed measure shows inflation rose 2.6% in May from a year ago, as expected
▼ + stars: | 2024-06-28 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

May marked the lowest annual rate since March 2021, which was the first time in this economic cycle that inflation topped the Federal Reserve's 2% target. An important economic measure for the Federal Reserve showed Friday that inflation during May slowed to its lowest annual rate in more than three years. Including food and energy, headline inflation was flat on the month and also up 2.6% on an annual basis. Outside of the inflation numbers, the Bureau of Economic Analysis report showed that personal income rose 0.5% on the month, stronger than the 0.4% estimate. Shelter-related costs have proven stickier than Fed officials have anticipated and have helped keep the central bank from reducing interest rates as expected this year.

Persons: Dow Jones, Seema Shah Organizations: Dow, Commerce Department, Federal, Asset Management, Gross, Atlanta Fed Locations: PCE

☆ Gold set for third quarterly gain; traders await US inflation data
▼ + stars: | 2024-06-28 | by ( ) www.cnbc.com time to read: +2 min

Gold prices eased on Friday, but were set for a third straight quarterly rise, while investors looked forward to U.S. inflation data due later in the day for more clarity on the Federal Reserve's interest rate-cut timeline. After adding to its gold reserves for 18 consecutive months, official data from the People's Bank of China (PBOC) showed its holdings were flat in May. A survey by the World Gold Council, however, found that more central banks may increase gold reserves within 12 months. Gold rose more than 1% in the previous session after data showed a continued, though moderate, slowdown in U.S. economic activity. A soft set of PCE figures is required to keep hopes of Fed easing alive and further support gold, City Index senior analyst Matt Simpson said.

Persons: Ilya Spivak, Michelle Bowman, Matt Simpson Organizations: Heraeus, Solar, People's Bank of China, World Gold Council, City Index Locations: Budapest, Hungary, U.S, China

☆ Treasury yields rise as investors look to key data
▼ + stars: | 2024-06-27 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

ET, the yield on the 10-year Treasury was up by over two basis points to 4.3411%. The 2-year Treasury yield was last at 4.7576% after rising by less than one basis point. U.S. Treasury yields were higher on Thursday as investors looked to economic data for hints about the outlook for the economy and monetary policy. Economic data slated for Thursday includes weekly initial jobless claims, May's durable goods orders and pending home sales figures, also for May. That comes after data released Wednesday showed that new home sales fell over 11% in May.

Persons: Dow, Dow Jones, Michelle Bowman Organizations: Treasury, Dow Jones, Federal

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