DIRS.INFO The most relevant business & tech news

☆ Nvidia, key Powell speech to take center stage next week in midst of Wall Street's August woes
▼ + stars: | 2023-08-18 | by ( Sarah Min | ) www.cnbc.com time to read: +7 min

The week ahead will "revolve around three things," Infrastructure Capital Management CEO Jay Hatfield remarked on the week ahead. "Nvidia's earnings, Nvidia's earnings and, to a lesser degree, Jackson Hole." Nvidia earnings Many investors expect Nvidia will beat expectations for the second quarter when it reports results next Wednesday . More commentary from Jackson Hole If Nvidia is the key microeconomic event next week, Jackson Hole will dominate macroeconomic discussion. Powell delivers his address at the annual central bank forum hosted by the Kansas City Fed next Friday morning.

Persons: Jerome Powell, Jay Hatfield, Jackson, Management's Yung, Yu Ma, Hans Mosesmann, Hatfield, Powell, Ross Mayfield, Ray Farris, Fed Governor Bowman, Michael Bloom Organizations: Federal, Infrastructure Capital Management, Dow, Nasdaq, Treasury, Fitch, Federal Reserve, BMO, Nvidia, Rosenblatt Securities, Infrastructure Capital Management's, Kansas City Fed, Fed, Infrastructure Capital, Credit Suisse, Richmond Fed, Federal Reserve Bank of Chicago, PMI, New, Body, Devices, Autodesk, Chicago, . Kansas City Fed Manufacturing, Intuit, Ulta Locations: , Wyoming, China, Infrastructure Capital Management's Hatfield, Powell, . Kansas, Michigan

☆ Asian stocks hit 9-month lows on worries over China economy, US rates
▼ + stars: | 2023-08-17 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

Losses were broad-based across Asia Pacific on Thursday, with Japan's Nikkei (.N225) and Australia's S&P/ASX 200 index (.AXJO) down 1%. "Some participants" cited the risks to the economy of pushing rates too far even as "most" policymakers continued to prioritise the battle against inflation. The U.S. central bank hiked rates by 25 basis points at the July meeting after standing pat in June. The rising yields lifted the dollar, with the dollar index , which measures the U.S. currency against six rivals, touching a two-month peak of 103.58 as investors sought safety. Worries over China and the trajectory of the U.S. interest rates also rattled the commodities market, with oil prices dropping for the fourth straight session.

Persons: Issei Kato, HSI, Taylor Nugent, Jerome Powell, Shunichi Suzuki, Brent, Ankur Banerjee, Muralikumar Organizations: REUTERS, Rights, Federal Reserve, Asia Pacific, Japan's Nikkei, NAB, ING, Finance, Thomson Locations: Tokyo, Japan, Asia, Pacific, China, U.S

☆ CNBC Daily Open: Inflation and rate hikes aren’t over, warns the Fed
▼ + stars: | 2023-08-17 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +4 min

Kevin Dietsch | Getty Images News | Getty ImagesThis report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Losing streakU.S. markets fell for a second straight day and Treasury yields rose as traders digested hawkish minutes from the Federal Reserve. Inflation relief for the U.K.U.K. headline inflation in July dropped to 6.8% year on year, in line with economists' forecast. Longer-term U.S. Treasury yields — which are typically more sensitive to interest rate changes — rose in response to the minutes.

Persons: Jerome Powell, Kevin Dietsch, Bob Pisani, Quincy Krosby, Sam Stovall, Tesla — Organizations: U.S . Treasury, Getty, CNBC, Federal, Federal Reserve, General Motors, LPL, Treasury, Dow Jones, Nasdaq, CFRA Research, Big Tech, Nvidia, Tesla Locations: Washington , DC

☆ Morning Bid: Rattled by the China and Fed double whammy
▼ + stars: | 2023-08-17 | by ( ) www.reuters.com time to read: +3 min

Underwhelming economic data, along with the ever-deepening property crisis, have unnerved investors and taken Asian stocks to their lowest since November. Zhongzhi Enterprise Group told investors that it was facing a liquidity crisis and will conduct a debt restructuring, two sources told Reuters. European stocks have been hamstrung too, with the pan-European STOXX 600 index (.STOXX) touching a one-month low on Wednesday and eyeing a lower open on Thursday. But it's important to remember that July's meeting came before a raft of U.S. data that underscored the resilient economy. England will face Spain on Sunday, looking to add a world title to last year's European Championship triumph.

Persons: Ankur Banerjee, Zhongzhi, Muralikumar Organizations: Silicon Valley Bank, Credit Suisse, REUTERS, Staff, Zhongzhi Enterprise Group, Reuters, International Trust Co, U.S, Federal, Traders, Australia, Reuters Graphics Reuters, Thomson Locations: Frankfurt, Silicon, Germany, Ankur, Asia, China, England, Spain, Croatia, Singapore

The Fed's rates aren't directly tied to mortgage rates — but in general, when it goes up, mortgage rates either stay high or increase too. 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. Mortgage Rates for Buying a Home30-year Fixed Mortgage Rates Increase (+0.28%)The current average 30-year fixed mortgage rate is 7.03%, up 28 basis points since this time last week. 15-year Fixed Mortgage Rates Tick Up (+0.07%)The average 15-year fixed mortgage rate is 6.15%, a seven-basis-point increase from last week. Mortgage Refinance Rates30-year Fixed Refinance Rates Rise (+0.27%)The average 30-year refinance rate is 7.22%, which is higher than it was last week.

Persons: you'll, It's, refinance Organizations: Federal Reserve, Zillow Locations: Chevron

☆ Yen breaks above 145/dlr level in choppy trading, dollar firm
▼ + stars: | 2023-08-14 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

Japanese Yen and U.S. dollar banknotes are seen in this illustration taken March 10, 2023. The Japanese yen weakened to as low as 145.22 per dollar in early Asian hours, its lowest since Nov. 10 2022 before quickly reversing course. Japan intervened in currency markets last September when the dollar rose past 145 yen, which prompted the Ministry of Finance to buy the yen and push the pair back to around 140 yen. With the yen loitering around that level again, traders expect Japanese officials to start warning of intervention soon. While sentiment towards China is down, this week's high-frequency China data may only need a small beat to cause a strong upside reaction in China proxies, said Pepperstone's Head of Research Chris Weston.

Persons: Yen, Dado Ruvic, warily, Chris Weston, Ankur Banerjee, Shri Navaratnam Organizations: REUTERS, United, Federal Reserve, Bank of Japan, Ministry of Finance, Saxo Markets, Treasury, Federal, ANZ, Fed, Thomson Locations: SINGAPORE, Japan, United States, China, Singapore

☆ Yen breaks above 145/dollar level in choppy trading, dollar firm
▼ + stars: | 2023-08-14 | by ( ) www.cnbc.com time to read: +3 min

A Japanese 10,000 yen and a U.S. 100 dollar banknote juxtaposed against each other in Tokyo, Japan, on Monday, June 20, 2016. The Japanese yen weakened to as low as 145.22 per dollar in early Asian hours, its lowest since Nov. 10, 2022, before quickly reversing course. Japan intervened in currency markets last September when the dollar rose past 145 yen, which prompted the Ministry of Finance to buy the yen and push the pair back to around 140 yen. With the yen loitering around that level again, traders expect Japanese officials to start warning of intervention soon. While sentiment towards China is down, this week's high-frequency China data may only need a small beat to cause a strong upside reaction in China proxies, said Pepperstone's Head of Research Chris Weston.

Persons: warily, Chris Weston Organizations: United, Federal Reserve, Bank of Japan, Ministry of Finance, Saxo Markets, Treasury, Federal, ANZ, Fed Locations: U.S, Tokyo, Japan, United States, China

☆ Fed officials are divided, but holding rates steady in September seems likely
▼ + stars: | 2023-08-13 | by ( Bryan Mena | ) edition.cnn.com time to read: +6 min

Washington, DC CNN —Federal Reserve officials meet next month to determine whether to raise interest rates for the 12th time to cool the economy or hold them steady. Some officials think the Fed has already raised its benchmark lending rate enough to curb inflation, but others think it’s too soon to tap the brakes. Philadelphia Fed President Patrick Harker echoed that sentiment in a speech last week, saying “I believe we may be at the point where we can be patient and hold rates steady.”Other Fed officials agree. “Inflation is still significantly above” the Fed’s 2% target, Fed governor Michelle Bowman said last week at an event in Atlanta. The Federal Reserve releases minutes from its July policymaking meeting as well as July figures on industrial production.

Persons: ” Rajeev Sharma, ”, Jerome Powell, Patrick Harker, “, Raphael Bostic, there’s, Michelle Bowman, ” Carol Schleif, ” Schleif, Katie Lobosco, Brinker Organizations: CNN Business, Bell, DC CNN — Federal Reserve, Key Private Bank, CNN, “, Fed, Financial, Philadelphia Fed, Atlanta Fed, BMO Family Office, Internal Revenue, Tax Administration, IRS, Kansas City Tax Processing, Fresno Tax Processing, China’s National Bureau of Statistics, Depot, US Commerce Department, Target, Federal Reserve, Walmart Locations: Washington, Jackson Hole , Wyoming, Atlanta, Kansas, Fresno

☆ US stocks finish the week mostly lower as July inflation data comes in mixed
▼ + stars: | 2023-08-11 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

US stocks finished the week mostly lower as investors digest mixed inflation data. While the July CPI report came in lower than expected, the producer price index was higher than economist estimates. The conflicting data will serve as a major input into the Federal Reserve's next interest rate decision. The July consumer price index came in lower than economist estimates and showed a continued cooldown in inflation, while July producer price index came in hotter than economist estimates, though it did indicate most prices are falling from year-ago levels. Despite the conflicting data, investors still expect the Federal Reserve to pause their interest rate hikes at their September FOMC meeting, according to the CME FedWatch Tool.

Persons: Quincy Krosby, it's Organizations: Federal, Service, Federal Reserve, Dow Jones, Nasdaq Locations: Wall, Silicon

☆ The Fed can take the rest of the year off as inflation is crumbling and there's no recession in sight, market vet Ed Yardeni says
▼ + stars: | 2023-08-11 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

The Fed can take the rest of 2023 off, according to market veteran Ed Yardeni. The US may be able to avoid a recession after all as the economy enters a "rolling recovery," he added. Inflation is dropping, and there's no sign that the economy will tip into the recession investors have fretted about, according to Ed Yardeni. But if shelter prices were excluded from the July CPI, inflation has already back down to 2%, Yardeni said. And shelter inflation has shown signs of falling in recent months, which will eventually reflect in the official inflation statistics, Yardeni said.

Persons: Ed Yardeni, Yardeni, we've Organizations: Service, Yardeni, CPI Locations: Wall, Silicon

"We're going to see our first rise in headline inflation after 12 consecutive months of falling prices," said Ben Laidler, global markets strategist at eToro. The pan-European benchmark STOXX 600 (.STOXX) rose 0.5%, supported by gains in the luxury sector (.STXLUXP) after China lifted a ban on group tours in the United States and other key markets. In currency markets, the dollar index , which measures the U.S. currency against six peers, eased 0.4%. "We've got $1 trillion coming down the pipe over the next three months," eToro's Laidler said. "Any sign that markets are absorbing that well, which we got the first signs of yesterday, will be very well taken."

Persons: Ben Laidler, Laidler, Germany's DAX, Rodrigo Catril, We've, eToro's Laidler, Bond, Brent, Samuel Indyk, Ankur Banerjee, Edwina Gibbs, Sam Holmes, Susan Fenton, Alexandra Hudson Organizations: Silicon Valley Bank, Credit Suisse, Reuters, CAC, FTSE, Wall, National Australia Bank, U.S, Treasury, Alexandra Hudson Our, Thomson Locations: Frankfurt, Silicon, China, United States, Europe's, Europe, CHINA, U.S, Asia, Pacific, Japan, Beijing, Saudi Arabia, Russia

☆ Asian shares slip on China worries; U.S. inflation figures awaited
▼ + stars: | 2023-08-10 | by ( Ankur Banerjee | ) www.reuters.com time to read: +3 min

REUTERS/Kim Kyung-HoonSINGAPORE, Aug 10 (Reuters) - Asian stocks lost ground on Thursday, still hurting from China's slip into deflation, with investors particularly cautious ahead of a crucial U.S. inflation report that will likely influence the Federal Reserve's monetary policy path. The announcement of a U.S. ban on investments in sensitive technologies in the world's second-largest economy also weighed on sentiment. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) fell 0.33% and it looked set to log a second straight week of losses. China is the first G20 economy to report a year-on-year decline in consumer prices since Japan's last negative headline CPI reading in August 2021. Investors have also been unwilling to place major bets this week ahead of a U.S. inflation report due later on Thursday.

Persons: Kim Kyung, Hong, HSI, Rodrigo Catril, Joe Biden, Brent, Ankur Banerjee, Edwina Gibbs Organizations: Yen, REUTERS, Hoon, Federal, Japan's Nikkei, National Australia Bank, Wednesday, Saxo Markets, U.S, CPI, Reuters, Treasury, Thomson Locations: Tokyo, Japan, Hoon SINGAPORE, U.S, Asia, Pacific, Shanghai, China, Beijing, Saudi, Russian

☆ CPI: Consumer prices rose by 3.2% annually in July, picking up for the first time in 13 months
▼ + stars: | 2023-08-10 | by ( Alicia Wallace | ) edition.cnn.com time to read: +8 min

Minneapolis CNN —For the first time in more than 12 months, the pace of consumer price hikes accelerated on an annual basis. The Consumer Price Index rose 3.2% for the year through July, up from June’s 3% annual increase, according to data released Thursday by the Bureau of Labor Statistics. Core CPI, which excludes the more volatile food and energy prices, increased 0.2% from June and was up 4.7% from the year-ago period. July is the the fourth consecutive month that annual core CPI has eased, and the 4.7% rate landed 0.1 percentage points below consensus expectations. Shelter prices rose 0.4% month on month and were up 7.7% for the year ending in July.

Persons: “ Don’t, ”, Julia Pollak, Joe Biden, ” Biden, “ We’ve, Kurt Rankin, Dow, “, Joe Brusuelas, Brusuelas, Tamara Charm, Brandon Bell, Danielle DiMartino Booth, DiMartino Booth, — CNN’s Elisabeth Buchwald Organizations: Minneapolis CNN —, Bureau of Labor Statistics, BLS, CPI, Federal Reserve, PNC, Nasdaq, RSM US, CNN, San, Services, “, McKinsey, Quill Intelligence, Federal Reserve Bank of Dallas Locations: Minneapolis, June’s, San Francisco, Austin , Texas

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 7, 2023. The consumer price index (CPI) dropped in the world's second-largest economy, the National Bureau of Statistics said, its first decline since February 2021. Of the 443 S&P 500 companies that have reported results as of Tuesday, 78.6% beat analyst expectations, according to Refinitiv data. Declining issues outnumbered advancing ones on the NYSE by a 1.18-to-1 ratio; on Nasdaq, a 1.63-to-1 ratio favored decliners. The S&P 500 posted 16 new 52-week highs and 7 new lows; the Nasdaq Composite recorded 60 new highs and 178 new lows.

Persons: Brendan McDermid, Jason Krupa, Patrick Harker, Gina Bolvin, Wells, Penn Entertainment's, Walt Disney's, Uber, Krupa, Echo Wang, Bansari Mayur Kamdar, Johann M, Shounak Dasgupta, David Gregorio Our Organizations: New York Stock Exchange, REUTERS, Penn Entertainment, Dow, Nasdaq, Consumer, Index, Lenox Advisors, New York Federal Reserve Bank, Philadelphia Fed, Bolvin Wealth Management Group, Traders, FedWatch, Wall, Nvidia, Apple, National Bureau of Statistics, Dow Jones, Bank of America, Casino, Walt, Walt Disney's ESPN, NYSE, Thomson Locations: New York City, U.S, Boston, New York, Bengaluru

The Consumer Price Index (CPI) for July, due on Thursday, is expected to show a slight acceleration from last year. The consumer price index (CPI) dropped in the world's second-largest economy, the National Bureau of Statistics said on Wednesday, its first decline since February 2021. According to preliminary data, the S&P 500 (.SPX) lost 31.47 points, or 0.70%, to end at 4,467.91 points, while the Nasdaq Composite (.IXIC) lost 162.31 points, or 1.17%, to 13,723.96. Six of the top 11 S&P 500 sectors rose, with energy stocks (.SPNY) leading the gain. Of the 443 S&P 500 companies that have reported results as of Tuesday, 78.6% beat analyst expectations, according to Refinitiv data.

Persons: Brendan McDermid, Jason Krupa, Patrick Harker, Gina Bolvin, Michelle Bowman, Wells, Penn Entertainment's, Walt Disney's, Uber, Krupa, Echo Wang, Bansari Mayur Kamdar, Johann M, Shounak Dasgupta, David Gregorio Our Organizations: New York Stock Exchange, REUTERS, Penn Entertainment, Dow, Nasdaq, Lenox Advisors, New York Federal Reserve Bank, Philadelphia Fed, Bolvin Wealth Management Group, Traders, FedWatch, Wall, Nvidia, Apple, Index, Bank of America, National Bureau of Statistics, Dow Jones, Casino, Walt, Walt Disney's ESPN, Thomson Locations: New York City, U.S, Boston, New York, Bengaluru

"We think that at this point there is some profit taking and retrenchment in the short term on the card," said Aadil Zaman, partner at Wall Street Alliance Group. However, Fed Governor Michelle Bowman on Monday said the combination of still-elevated inflation and continued economic growth meant further rate increases are likely. The Consumer Price Index (CPI) for July, due on Thursday, is expected to show a slight year-over-year acceleration. Seven of the top 11 S&P 500 sectors rose, led by gains in energy stocks (.SPNY), that increased 1.6%, touching a near six-month high, tracking a jump in crude oil prices. Of the 443 S&P 500 companies that have reported results as of Tuesday, 78.6% beat analyst expectations, according to Refinitiv data.

Persons: Aadil Zaman, Patrick Harker, Michelle Bowman, Monday, It's, Zaman, Brendan McDermid Big, Wells, Penn Entertainment's, Walt Disney's, Uber, advancers, Bansari Mayur Kamdar, Johann M, Shounak Dasgupta Organizations: Penn, Dow, Nasdaq, . Federal Reserve, Wall, Nvidia, Apple, Wall Street Alliance Group, Philadelphia Fed, Traders, FedWatch, Index, CPI, New York Stock Exchange, REUTERS, Bank of America, Dow Jones, Casino, Walt, Walt Disney's ESPN, NYSE, Thomson Locations: U.S, New York City, Bengaluru

☆ US stocks fall as investors brace for July CPI report
▼ + stars: | 2023-08-09 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

US stocks traded mixed on Wednesday as investors awaited the July CPI report. Markets are hoping cooler inflation will push the Fed to end its rate hike campaign. August has been a tough month so far for stocks, with the summer rally losing steam. Investors are hoping that cooler inflation data could influence the Federal Reserve to end its rate hike campaign, which would likely be a boon for stocks. In the meantime, investors have their eye on The Walt Disney Company, which is set to report earnings after the closing bell.

Persons: Dow Jones Organizations: Service, Cleveland, Investors, Federal Reserve, Walt Disney Company Locations: Wall, Silicon

☆ Inflation takes center stage in the week ahead as Wall Street looks for more clues on Fed rate hikes
▼ + stars: | 2023-08-04 | by ( Sarah Min | ) www.cnbc.com time to read: +6 min

New inflation data set for release in the week ahead could help Wall Street regain its footing. However, he does not expect that the inflation data releasing next week will be very threatening, even if they show a slight rise from the prior reading. A smattering of results will roll out in the week ahead including from major firms like the Walt Disney Company, which reports Wednesday. Other economic data Investors will digest other major economic data in the week ahead. Hourly earnings (July) Earnings: RL Friday, Aug. 11 8:30 a.m. PPI (July) 10 a.m. Michigan Sentiment preliminary (August)

Persons: it's, Jack Ablin, Ablin, McCormick, Archer, CFRA'S Sam Stovall, FactSet, Stovall, Greg Bassuk, Bassuk, Tyson, Eli Lilly, Fox Organizations: Federal, PPI, Cresset, Nasdaq, Dow Jones, Fed, Daniels, Midland, Chevron, Investments, Walt Disney Company, Wynn Resorts, Dow, Consumer Credit, Tyson Foods, Paramount, Parcel Service, CPI Locations: U.S, Michigan

☆ US stocks rise as the Fed's favorite inflation gauge drops to 2-year low
▼ + stars: | 2023-07-28 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

US stocks rose higher on Friday as the Fed's favorite inflation gauge cooled to a two-year low. PCE inflation rose just 0.2% month-over-month in June, in line with economists' expectations. The Dow and S&P 500 are on track to close off their third straight winning week. The Personal Consumption Expenditures index, the Federal Reserve's preferred inflation measure, rose just 0.2% in June, in-line with economists' estimates. Commentators point out that headline inflation remains well-above the Fed's 2% long-run target.

Persons: Richard Saperstein, Saperstein Organizations: Dow, Service, Dow Jones Industrial, Federal, Fed, Treasury Partners Locations: Wall, Silicon, decelerate

☆ Dow and S&P 500 finish 3rd straight winning week as more data shows inflation is cooling
▼ + stars: | 2023-07-28 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

Stocks rose on Friday as investors cheered good news from the Fed's preferred inflation gauge. For the week, the Dow Jones Industrial Average added 0.6%, the S&P 500 gained 1%, and the Nasdaq rose 2%. For the week, the Dow Jones Industrial Average added 0.6%, the S&P 500 gained 1%, and the Nasdaq rose 2%. The personal consumption expenditures price index, which is the Federal Reserve's preferred measure of inflation, increased 0.2% month over month in June, in-line with economists' estimates. Here's where US indexes stood as the market closed 4:00 p.m. on Friday:Dow Jones Industrial Average: 35,459.29, up 0.5% (176.57 points)Nasdaq Composite: 14,316.66, up 1.9%Here's what else is going on:In commodities, bonds, and crypto:

Organizations: Dow Jones, Nasdaq, Service Locations: Wall, Silicon

☆ The US economy grew stronger than expected in the second quarter
▼ + stars: | 2023-07-27 | by ( Bryan Mena | ) edition.cnn.com time to read: +7 min

Washington CNN —The US economy picked up steam in the second quarter despite punishing rate hikes and still-high inflation, the Commerce Department reported Thursday. Economic growth in the second quarter was driven by business investment, government purchases, inventory investment and consumer spending, though at a much weaker pace than in the first quarter. Consumer spending, which accounts for about two-thirds of economic output, grew at just a 1.6% rate in the second quarter, down sharply from a 4.2% rate in the first three months of the year. Nonresidential business investment rose sharply to a 7.7% growth rate in the second quarter, up from a 0.6% rate in the beginning of the year. The GDP report showed that spending on structure slowed to a 9.7% rate in the second quarter from a 15.8% rate in the prior one.

Persons: “, Lydia Boussour, ’, ” Shannon Seery, Seery, —, ”, Diane Swonk, Thursday’s, Carol Schleif, Jerome Powell Organizations: Washington CNN, Commerce Department, Gross, Federal Reserve, Fed, CNN, Employers, Wells, Investment Bank, Manufacturers, KPMG, restrengthens Investors, BMO Family Office, Investors, “ Locations: EY

☆ The Dow is on pace to do something today it hasn’t done since 1897
▼ + stars: | 2023-07-27 | by ( Krystal Hur | ) edition.cnn.com time to read: +2 min

New York CNN —The Dow is on pace for its best run in 126 years. If the Dow closes higher Thursday for a 14th consecutive session, that would be its longest run of consecutive gains since May 1897. Should the Dow end the day higher today, and for a 15th straight day on Friday, that would mark the index’s longest daily winning streak ever. The blue-chip index’s run is already at historic levels: The Dow on Wednesday notched its 13th straight day of gains, its best winning streak since 1987 and its highest level since February 2022. Some investors say that the central bank is unlikely to pivot as soon as Wall Street expects, or as quickly.

Persons: Dow, —, haven’t, “, ”, Rhys Williams, Mike Sanders Organizations: New, New York CNN, Dow, Wednesday, New York Stock, Bettmann, Nasdaq, Meta, Big Tech, Federal Reserve, Management, Traders, Madison Investments Locations: New York

☆ The Fed has paused before. Here’s what happened next
▼ + stars: | 2023-07-25 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +8 min

The Fed had a similar predicament in 2006After raising interest rates 17 consecutive times between June 2004 and June 2006, Fed officials became concerned that they could inadvertently damage the economy if they continued to hike rates. When the Fed met again in September, many officials expressed concerns that raising interest rates after a short, six-week pause would broadcast the wrong message. Lacker continued to be the sole Fed official who favored raising interest rates until his term expired at the end of the year. “It’s pretty easy to believe that the Fed will find that it didn’t raise rates enough and so choose to raise rates somewhat further before stopping and, later on, reducing rates,” he said. Fed officials then opted for a pause in the fall of 1994 and raised rates further in the winter.

Persons: Ben Bernanke, Bernanke, “, ” Michael Moskow, ”, Cathy Minehan, Jeffrey Lacker, Lacker, Jerome Powell, Liu Jie, Athanasios Orphanides, Austan Goolsbee, William English Organizations: New, New York CNN, Federal, Traders, Fed, Committee, Washington , D.C, Bloomberg, Getty, Chicago Fed, Boston Fed, Richmond Fed, Massachusetts Institute of Technology, European Central Bank, Food Forum, Yale University Locations: New York, Washington ,, Xinhua, Chicago

☆ The Fed's big decision this week could 'be devastating for our economy' and throw 'Americans out of work,' Elizabeth Warren says
▼ + stars: | 2023-07-25 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

The Federal Reserve will make its next interest rate decision on Wednesday. Sen. Elizabeth Warren told Insider another hike could "be devastating for our economy." On Wednesday, the Federal Reserve will decide whether it will raise interest rates again, or maintain the pause on hikes it implemented in June. "Chair Powell must maintain the Fed's pause on rate hikes and avoid further rate increases that threaten our economy and risk throwing Americans out of work." Still, Warren and some of her Democratic colleagues have been critical of Powell's continued rate hikes.

Persons: Sen, Elizabeth Warren, Massachusetts Sen, Warren, Jerome Powell, Powell, we're, Democratic Sen, John Hickenlooper Organizations: Federal Reserve, Service, Fed, Federal, Market Committee, Consumer, Democratic Locations: Wall, Silicon, Massachusetts

☆ S&P 500 futures are little changed as investors digest Big Tech earnings and await Fed decision: Live updates
▼ + stars: | 2023-07-25 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Futures tied to the S&P 500 traded near flat Tuesday night as investors parsed a batch of corporate earnings from major technology names and geared up for Wednesday's interest rate policy decision. S&P 500 futures were little changed, while Nasdaq 100 futures slid 0.2%. Investors are counting down to the Federal Reserve's latest interest rate policy decision and subsequent press conference with Chair Jerome Powell scheduled for Wednesday afternoon. Wall Street notched a winning day on Tuesday as investors reviewed the latest earnings and made adjustments with the Fed decision on the horizon. Beyond the interest rate decision, investors will continue following the latest corporate financial releases on Wednesday.

Persons: Jerome Powell, Bill Northey, Powell, Mattel Organizations: Nasdaq, Dow Jones, Google, Microsoft, Big Tech, Federal, U.S, Bank Wealth Management, Dow, Boeing, AT, Meta

Search resuls for: "CME FedWatch"

25 mentions found