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☆ Americans have racked up a trillion dollars in credit card debt. That’s actually okay
▼ + stars: | 2024-02-25 | by ( Bryan Mena | ) edition.cnn.com time to read: +8 min

Washington, DC CNN —Americans racked up a record amount of credit card debt in 2023, soaring past a trillion dollars. “Consumers still have a lot of money left over to be able to spend, so the credit card data is often misinterpreted,” Russell Price, chief economist at Ameriprise Financial, told CNN. According to a LendingTree analysis of more than 350,000 credit reports, the average unpaid credit card balance was $6,864 in the fourth quarter. Overall, US household debt (including credit card balances) rose to a new high of $17.5 trillion in the fourth quarter, up 1.2% from the prior three-month period. So, while there certainly isn’t a shortage of economic hurdles bedeviling people’s budget — and credit card debt has surged — the big picture indicates that, so far, Americans (and their economy) remain healthy.

Persons: ” Russell Price, Price, haven’t, market’s, ” Gregory Daco, ” Lara Rhame, Laura, Jensen Huang, Christine Lagarde, Virgin, Michael Barr, Raphael Bostic, Susan Collins, John Williams, Papa, Austan Goolsbee, Loretta Mester, fuboTV, Christopher Waller, Mary Daly, Adriana Kugler Organizations: CNN Business, Bell, DC CNN, Workers, New York Fed, Consumers, Ameriprise, CNN, Federal Reserve Bank of New, . New York Fed, Employers, Soaring, FS Investments, Nvidia, Huawei, AMD, Microsoft, Broadcom, US Commerce Department, Central Bank, eBay, Smucker, Urban Outfitters, Global, Board, TJX, Monster Beverage, Baidu, HP, Paramount Global, Anheuser, Busch Inbev, Dell Technologies, Papa John’s, US Labor Department, National Association of Realtors, P, China’s National Bureau, Statistics, Pearson, P Global, Institute for Supply Management, University of Michigan Locations: Washington, Federal Reserve Bank of New York, ., EY, Santa Clara, Singapore, Shenzhen, China, Beijing, CAVA

☆ German central bank losses soar, wiping out risk provisions
▼ + stars: | 2024-02-23 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

Losses incurred by the German central bank rocketed into the tens of billions in 2023 due to higher interest rates, requiring it to draw on the entirety of its provisions to break even. That leaves it with just under 700 million euros in reserves, the central bank said. Net interest income was negative for the first time in its 57-year history, declining by 17.9 billion euros year-on-year to -13.9 billion euros. They are likely to exceed the remaining reserves," Bundesbank President Joachim Nagel said in a press conference. The central bank will report a loss carryforward that will be offset through future profits, he said.

Persons: Joachim Nagel, Nagel Organizations: Deutsche Bundesbank Locations: Frankfurt, Germany, German, rocketed

☆ Yen sinks as currency traders keep short and carry on
▼ + stars: | 2024-02-23 | by ( ) www.cnbc.com time to read: +3 min

The yen is the worst-performing G10 currency this year, with a 6.4% slide on the dollar. For the week the yen is down 0.6% on the euro, touching its weakest for three months overnight at 163.45 per euro . Yen moves against the dollar were more modest due to the risk its slide could prompt intervention in markets from Japan, with officials reminding traders they stand ready in recent days. The dollar gained 0.1% to trade at 150.41 yen this week. Investors can earn interest, or carry, by borrowing yen around 0% and buying income-bearing assets in other currencies.

Persons: Moh Siong Sim, Sterling, Christine Lagarde, Christopher Waller Organizations: New, Deutsche, Britain, of Singapore, U.S, European Central Bank Locations: Japan, New Zealand, Friday's Asia, U.S, Europe

☆ Wall Street will try to maintain AI-fueled momentum in the final week of February, as inflation concerns linger
▼ + stars: | 2024-02-23 | by ( Sarah Min | ) www.cnbc.com time to read: +8 min

In the final week of February, Wall Street will strive to maintain its AI-fueled rally even as economic concerns linger and the Federal Reserve's favorite inflation measure is on deck. But many worry the writing is on the wall for these market leaders as economic and inflation risks linger. The 'lone cloud' of inflation The Fed's preferred inflation gauge will also be released in the week ahead. Investors are concerned that sticky inflation will mean that the Fed will hold onto its higher-for-longer interest rate policy. Next week will also be the final week of February, with stocks headed for another strong month of gains.

Persons: Goldman Sachs, Patrick McDonough, Europe's, PGIM's McDonough, McDonough, Charlie Ashley, Dhaval Joshi, Joshi, Ashley, John Williams, TJX Cos Organizations: Dow Jones Industrial, Nasdaq, Nvidia, Japan's Nikkei, Catalyst Funds, BCA Research, CPI, PPI, Dow, New, Dallas Fed, Fidelity National Information Services, Richmond Fed, eBay, Enterprise, Cruise Line Holdings, New York Federal Reserve Bank, York, Monster Beverage, Paramount Global, PCE Deflator, Chicago PMI, . Kansas City Fed Manufacturing, Hewlett Packard Enterprise, Autodesk, Body, Hormel, PMI, Manufacturing Locations: U.S, Lowe's, Chicago, . Kansas, Michigan

☆ Finland's New President Sees No Limit to NATO Ties, Ukraine Support
▼ + stars: | 2024-02-11 | by ( Feb. | At P.M. | ) www.usnews.com time to read: +3 min

He said he agreed with his predecessor Sauli Niinisto "who said that we need a more European NATO". He would be "a Western president in many ways" and lean towards the United States, Britain and Nordic neighbours when it came to setting the tone of foreign policy, he told Reuters. "My starting point is, paraphrasing (European Central Bank President) Mario Draghi, whatever it takes," Stubb said. During his election campaign Stubb said Finland should be an active NATO member and seek to have some NATO troops stationed on its territory. Stubb is a keen amateur athlete and triathlon champion - though he has said he will cut down on sport once he becomes Finland's 13th president.

Persons: Anne Kauranen, Alexander Stubb, Sauli Niinisto, Mario Draghi, Stubb, Johanna Vuorelma, Vuorelma, Markku Jokisipila, Suzanne Innes, Andrew Heavens Organizations: Anne Kauranen HELSINKI, NATO, Reuters, European Investment Bank, European University Institute, Nordic, Ukraine, Central Bank, Helsinki, University of Helsinki, Finland's Centre, Parliamentary Studies, National Coalition Party Locations: Ukraine, Russia, Finland, Europe, Florence, United States, Britain, British

☆ WaFd CEO on regional bank challenges, commercial real estate and Luther acquisition
▼ + stars: | 2024-02-07 | 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 EmailWaFd CEO on regional bank challenges, commercial real estate and Luther acquisitionBrent Beardall, WaFd Bank president and CEO, joins 'Power Lunch' to discuss challenges facing regional banks, commercial real estate and company outlook.

Persons: Luther, Brent Beardall Organizations: WaFd Bank

☆ China gives suspended death sentence to Tian Huiyu, former China Merchants Bank president
▼ + stars: | 2024-02-06 | by ( Laura He | ) edition.cnn.com time to read: +3 min

The court said he had used his privileged access to information to make more than 290 million yuan ($41 million) in illegal gains from the stock market. He also leaked inside information about stocks to other people, which yielded more than 8 million yuan ($1.1 million) in illicit profits, it said. In return, he accepted bribes worth more than 210 million yuan ($30 million), it said. In 2013, Tian was promoted to head China Merchants Bank, serving as its president and its Communist Party boss. The Communist Party has stepped up its crackdown on the country’s state-owned financial system since last year.

Persons: Tian Huiyu, Xi Jinping, Tian, Wang Qishan, ”, Li Xiaopeng, Liu Liange, Bao Fan, Bao Organizations: Hong Kong CNN, China Merchants Bank, China Construction Bank, China Cinda Asset Management, Beijing, Communist Party, Central Commission, Communist, Adobe, China Everbright Group, Bank of China, China Renaissance Locations: China, Hong Kong, Changde city, Hunan, China’s, Shanghai, Changde

☆ Cuban President Sacks Economy Minister as Controversy Grows Over Price Hikes
▼ + stars: | 2024-02-02 | by ( Feb. | At P.M. | ) www.usnews.com time to read: +1 min

HAVANA (Reuters) - Cuban president Miguel Díaz-Canel sacked economy minister Alejandro Gil on Friday, state media reported, as controversy continued to grow over the delay of recently announced measures to hike the price of fuel and transportation fares in the communist-run country. The Council of State, under Diaz-Canel`s direction, has appointed Central Bank president Joaquín Alonso, 60, to replace Gil. The upheaval comes just two days after the government put off an unpopular five-fold hike in gasoline prices planned for Feb. 1, saying a cyberattack from outside Cuba had thwarted implementation. Former economy minister Gil had advocated for the unpopular plan to raise prices for many government subsidized services, and has long been criticized for his management of the country`s near-bankrupt economy. Gil's planned price hikes, initially announced in December and early January, rocked Cuba, where residents have long depended on a vast program of state subsidized food, fuel and medicine.

Persons: Miguel Díaz, Canel, Alejandro Gil, Diaz, Joaquín Alonso, Gil, Elba Rosa Perez, Eduardo Martinez, Alberto Lopez, Manuel Santiago Sobrino, Nelson Acosta, Dave Sherwood, Kirsten Donovan Organizations: of State, Central Bank, Technology, Food Industry Ministry Locations: HAVANA, Cuban, Cuba, Santa Clara

☆ Europe should brace for ‘harsh decisions’ if Trump is re-elected, says ECB’s Lagarde
▼ + stars: | 2024-01-30 | by ( Hanna Ziady | ) edition.cnn.com time to read: +3 min

London CNN —Europe should prepare for possible threats to its economy — including new US tariffs on its exports — if Donald Trump returns to the White House, according to European Central Bank President Christine Lagarde. “Let us prepare for potential tariffs, for potential harsh decisions that would be unexpected. The transatlantic relationship was strained during Trump’s first term, not least by a tit-for-tat trade spat between Washington and Brussels. That dispute saw the United States impose tariffs on EU steel and aluminum, to which the EU responded with tariffs on $3 billion worth of US goods, including whiskey, motorcycles and denim. The United States is the EU’s biggest source of foreign direct investment.

Persons: Donald Trump, Christine Lagarde, Mr Trump, ”, CNN’s Richard Quest, ” Lagarde, Trump, Trump’s, Lagarde, “ Organizations: London CNN, White, European Central Bank, United, EU, Republican, Ukraine, Russia, Trade, Trump, French, France, NATO Locations: Europe, United States, Washington, Brussels, Paris

☆ Watch the full CNBC Leaders interview with World Bank President Ajay Banga
▼ + stars: | 2024-01-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch the full CNBC Leaders interview with World Bank President Ajay BangaCNBC's Sara Eisen sits down with World Bank President Ajay Banga for a CNBC Leaders interview from the World Economic Forum in Davos, Switzerland.

Persons: Ajay Banga, Sara Eisen Organizations: CNBC, World Bank, Economic Locations: Davos, Switzerland

FRANKFURT, Germany (AP) — European Central Bank President Christine Lagarde will likely push back Thursday against expectations for quick interest rate cuts even as Europe's economy sputters and financial markets froth in hopes of cheaper credit that would boost business activity and stock prices. Lagarde has cautioned that the bank will make decisions based on the latest figures about the economy's health rather than making longer-term promises. Fed Chair Jerome Powell said officials discussed prospects for rate cuts at the bank's December meeting, and the U.S. central bank has indicated it would cut its key interest rate three times this year. Rate cuts make riskier investments like stocks more attractive than safer bets like money market accounts and certificates of deposit. Expectations for rate cuts have been fueled by the rapid drop of inflation in Europe to 2.9% in December from the peak of 10.6% in October 2022.

Persons: Christine Lagarde, Lagarde, Jerome Powell, “ Lagarde, Yemen's Houthi Organizations: Central Bank, ECB, U.S . Federal Reserve, Union Locations: FRANKFURT, Germany, Frankfurt, U.S, Europe, Ukraine, Berenberg, Suez, Africa

☆ ECB's Lagarde responds to scathing staff survey: 'I'm very proud and honored to lead the institution'
▼ + stars: | 2024-01-25 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

European Central Bank President Christine Lagarde looks on as she attends the European Parliament's Committee on Economic and Monetary Affairs, at the European Parliament, in Brussels, Belgium September 25, 2023. President Christine Lagarde on Thursday said she was "proud and honored" to leead the European Central Bank, after her leadership was slammed in a union-run survey of staff. The survey's qualitative responses suggested some staff believed she had created a negative atmosphere at the central bank, and that she spends "too much time on topics unrelated to monetary policy," IPSO said. Appearing unfazed, former politician and lawyer Lagarde said that the ECB conducted its own surveys in a "way that we can trust." The surveys are conducted by around 60% of employees, and also cover wages, respect in the workplace and workplace satisfaction, she said.

Persons: Christine Lagarde, IPSO, Lagarde Organizations: European Central Bank, European Parliament's, Economic, Monetary Affairs, ECB, IPSO Locations: Brussels, Belgium

☆ European Central Bank staff slam Lagarde's leadership in union survey
▼ + stars: | 2024-01-23 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

European Central Bank President Christine Lagarde received a harsh assessment in a union-run employee survey, with some staff accusing her of fostering a negative atmosphere and focusing on her own career. Many respondents said Lagarde spends "too much time on topics unrelated to monetary policy" and forays too often into political discussion, the ECB union IPSO said alongside the results released Monday. Just over half of the nearly 1,100 respondents rated Lagarde's performance so far as "very poor" or "poor." The survey was conducted between Dec. 12 and Dec. 22, 2023, around the mid-point of Lagarde's eight-year term. The former International Monetary Fund chief and French finance minister took on the job spearheading euro zone monetary policy in November 2019.

Persons: Christine Lagarde, Lagarde, IPSO Organizations: European Central Bank, ECB, International Monetary Fund

☆ Dollar struggles to retain gains even as March rate cut odds recede
▼ + stars: | 2024-01-22 | by ( ) www.cnbc.com time to read: +3 min

Japan's yen was the notable mover in otherwise quiet trading, as it tiptoed away from Friday's one-month low of 148.80. San Francisco Federal Reserve Bank President Mary Daly on Friday said she believes the U.S. economy and monetary policy are in a "good place" and it is premature to think rate cuts are imminent. Short-term interest rate futures market show traders are betting interest rate cuts will start in May, with the probability of a March cut dropping below 50%, down from near 80% in the first weeks of January, according to CME Group data. "The USD holds a fair relationship with the evolving implied pricing for a March Fed cut, where rate cut probability falls the USD rallies, and vice versa," he wrote. Much of the gains have come from investor bets on Fed rate cuts.

Persons: dovish, Mary Daly, Chris Weston, Pepperstone Organizations: U.S, of Japan's, Federal Reserve, San Francisco Federal Reserve Bank, Group, NatWest Markets, European Central Bank, ECB Locations: Japan, Europe, U.S

☆ Leaders at Davos see a global economy moving toward a new normal
▼ + stars: | 2024-01-19 | by ( Lucy Handley | ) www.cnbc.com time to read: +2 min

President of the European Central Bank (ECB) Christine Lagarde attends a session on the closing day of the World Economic Forum (WEF) annual meeting in Davos, on January 19, 2024. The pandemic saw spending fall and people's savings grow, while global trade was also disrupted. The World Trade Organization (WTO) expects trade to increase by 3.3% in 2024, per a forecast released in October. "Around the world, inflation is coming down, and we have seen it in November [in] both headline inflation and core inflation," she said. Speaking on the same panel, WTO Director General Ngozi Okonjo-Iweala agreed that the economy is "maybe moving towards normalization" but she described it as "not normal, because trade growth is still trending below GDP growth."

Persons: Christine Lagarde, Lagarde, Ngozi Okonjo Organizations: European Central Bank, Economic, Bloomberg, World Trade Organization, ECB Locations: Davos, Switzerland

☆ Inflation isn’t beaten yet and risks of a new price shock are rising
▼ + stars: | 2024-01-19 | by ( Hanna Ziady | ) edition.cnn.com time to read: +5 min

The job is not yet done,” François Villeroy de Galhau, the governor of France’s central bank, said this week in Davos. Those “upside risks to inflation” include supply chain fragmentation, trade protectionism, climate shocks and armed conflicts, according to Gopinath. As soon as central banks start lowering interest rates “people feel better, they start spending more,” she said. Now the bank has to keep interest rates high “for as long as necessary” to put inflation firmly on the path back to 2%, she added. Meanwhile, container shipping costs along many of the world’s busiest trade routes have doubled — and in some cases tripled — since the middle of December, according to data from London-based shipping consultancy Drewry.

Persons: Sergio Ermotti, ”, “ It’s, Galhau, Gita Gopinath, Francois Villeroy de, Stefan Wermuth, Gopinath, Mary Callahan Erdoes, Christine Lagarde, “, Joe Biden, Vincent Clerc, CNN’s Richard Quest, Tobias Meyer, ” Robert North Organizations: London CNN, UBS, Economic, Federal Reserve, International Monetary Fund, Bloomberg, Getty, JPMorgan, Central Bank, IMF, Oxford University, Drewry, Oxford Economics, Maersk, DHL Locations: Iran, Africa, Davos, Switzerland, Red, United States, Europe, United Kingdom, France’s, Israel, Pakistan, British, Yemen, Suez, London, Asia

People attend the 54th annual meeting of the World Economic Forum, in Davos, Switzerland, January 18, 2024. Javier MileiArgentina's President Javier Milei delivers a speech at the World Economic Forum (WEF) meeting in Davos on January 17, 2024. Sam AltmanSam Altman, CEO of OpenAI, attends the 54th annual meeting of the World Economic Forum in Davos, Switzerland, on Jan. 18, 2024. He said AGI could be developed in the "reasonably close-ish future," speaking at a private gathering at the Bloomberg House in Davos, Switzerland. AI took a huge leap forward in the last year or two years," Benioff said on a World Economic Forum panel Thursday.

Persons: Denis Balibouse, Donald Trump, Ursula von der, Ursula von der Leyen, Jamie Dimon Jamie Dimon, JPMorgan, Adam Galici, Jamie Dimon, Dimon, Larry Fink's, bitcoin, Volodymyr Zelenskyy, CNBC's Andrew Ross Sorkin, Vladimir Putin, Zelenskyy, Putin, Javier Milei, Fabrice COFFRINI, FABRICE COFFRINI, Fabrice Coffrini, Milei, Adena Friedman Adena Friedman, Adena Friedman, Friedman, Sam Altman Sam Altman, Sam Altman, Altman, Antony Blinken Antony Blinken, CNBC Putin, Antony Blinken, Blinken, Trump's, it's, Christine Lagarde, Emmanuel Macron, Macron, Dmytro Kuleba, Arnd Wiegmann, Trump, Vladimir, Ukraine's, Kuleba, Michelle Yeoh Michelle Yeoh, Mike Coppola, Michelle Yeoh, CNBC's Tania Bryer, Yeoh, Pedro Sanchez Spanish, Pedro Sanchez, Isabel Infantes, Sanchez, Li Qiang Li Qiang, Li Qiang, Li, Isaac Herzog, Kfir Bibas, Herzog, Kfir, Hossein Amir, Abdollahian, Atta Kenare, Joe, Biden, Netanyahu, Amir, Sergio Ermotti, MICHAEL BUHOLZER, Ermotti, Marc Benioff Marc Benioff, Salesforce, CNBC's Sara Eisen, Marc Benioff, Benioff, Ray Dalio Ray Dalio, Bridgewater, Ray Dalio, Dalio, Mark Carney Mark Carney, DANIEL LEAL Organizations: Economic, Reuters, European, JPMorgan Chase, CNBC, BlackRock, Getty, Afp, NASDAQ, CNBC Nasdaq, Reuters OpenAI, Bloomberg, State, European Central Bank, Central Bank, Reuters Ukraine's, United Nations Development, Spanish, Getty Images, Hamas, Palestinian, Hezbollah, Turkish, AFP, Iranian, Sergio Ermotti UBS, Getty Images UBS, Credit Suisse, Bridgewater Associates, U.S, Bank of England, UN, OLIVAS Locations: Davos, Switzerland, Ukraine, Gaza, Russia, China, Moscow, WEF, AFP, OpenAI, U.S, Russian, Iran, Europe, United States, Hollywood , California, Madrid, Spain, Beijing, Washington, Lebanese, Tehran, Israel, Hiroshima

☆ Attack is the best market defense in international competition, ECB's Christine Lagarde says
▼ + stars: | 2024-01-19 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +2 min

President of the European Central Bank (ECB) Christine Lagarde attends a session on the closing day of the World Economic Forum (WEF) annual meeting in Davos, on January 19, 2024. Being strong means having a strong, deep market. Europe faces an uncertain future in its relationship with its closest international ally, following the U.S. vote. With that in mind, Lagarde said Europe should invest more in its capital markets in order to fund investments, such as, for instance, in the green transition. "Our competitive disadvantage compared to the U.S. is not subsidies but the function of our private capital market."

Persons: Christine Lagarde, Lagarde, Joe Biden, —, Donald Trump, Christian Linder, Linder Organizations: European Central Bank, Economic, Republican, German Finance Locations: Davos, Europe, U.S, United States

Zelensky and Trump loom over DavosTwo people are having an outsize impact at the World Economic Forum, and one of them isn’t even there. One is Volodymyr Zelensky, Ukraine’s president, who put on a full-court press of business and global leaders at the forum in Davos, Switzerland. Zelensky isn’t the only leader at Davos worried about Trump. The Ukrainian leader has sought to shore up global business support. And the annual wine tasting hosted by Anthony Scaramucci, the financier and former Trump official, well, ran out of wine.

Persons: Volodymyr Zelensky, Donald Trump, Zelensky, Vladimir Putin, Andrew, Trump, Putin, “, ” Zelensky, Republican Party ”, DealBook, thumped, JPMorgan Chase, Steve Schwarzman, Blackstone, Ray Dalio, David Rubenstein, Carlyle, Michael Dell, John Kerry, Biden’s, Anthony Scaramucci, Christine Lagarde, Christopher Waller, Nelson Peltz’s, James Gorman, Morgan Stanley, Mary Barra, General Motors —, Bob Iger, Disney’s, Murray Auchincloss, Bernard Looney, Auchincloss, Yi Fuxian Organizations: Trump, Economic, Ukraine, Republican Party, Republican, JPMorgan, Congress Center, Dell, European Central Bank, Fed, Disney, General, BP, University of Wisconsin – Locations: Davos, Switzerland, Europe, Ukraine, American, Iowa, Bridgewater, China, Beijing, Russia, Britain, U.S, Asia, University of Wisconsin – Madison

☆ Trump’s landslide Iowa win is a stunning show of strength after leaving Washington in disgrace
▼ + stars: | 2024-01-16 | by ( Stephen Collinson | ) edition.cnn.com time to read: +12 min

CNN —Former President Donald Trump’s huge win in the Iowa caucuses on Monday enshrines one of the most astonishing comebacks in American political history. His MAGA-hat wearing crowd greeted him with chants of “Trump, Trump, Trump” beneath two vast screens reading “Trump wins Iowa!”But the ex-president’s rebound is more stunning for another reason. Trump’s Iowa victory also sharpens the collision between the 2024 election and his legal imbroglio. His unhinged behavior, incessant shattering of rules and challenges to the law reinvigorated a brand perfectly tailored to Republican voters who despise “elites” in politics, government and the media. Trump’s victory will also give Russian President Vladimir Putin another reason to prolong the bloody war in Ukraine.

Persons: Donald Trump’s, Trump, ” Trump, MAGA, “ Trump, “, he’s, Joe Biden’s, ”, Ron DeSantis, Nikki Haley, Haley, DeSantis, it’s, Biden, Kari Lake, “ It’s, Donald Trump, Scott Jennings, —, E, Jean Carroll, don’t, GOP —, CNN’s Manu Raju, Tim Scott, Sen, John McCain, Jimmy Carter, Doug Burgum, Trump’s, America’s, Christine Lagarde, Vladimir Putin, he’d, Putin, Volodymyr Zelensky Organizations: CNN, GOP, Trump, “ Trump, Iowa, Capitol, Republican, Florida Gov, South Carolina Gov, Senate, Republican Party, Republican National Committee, North Dakota Gov, White, European Central Bank, NATO Locations: Iowa, Manhattan, week’s, Hampshire, Arizona, ” Iowa, Trump’s Iowa, Carolina, Des Moines, France, Europe, Ukraine

☆ Stock futures are little changed on Tuesday evening: Live updates
▼ + stars: | 2024-01-16 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Traders on the floor of the New York Stock Exchange (NYSE) in New York, on Tuesday, Jan. 3, 2023. Stock futures were flat in overnight trading following a losing session to kick off the holiday-shortened trading week. Futures tied to the Dow Jones Industrial Average hovered near the flatline, along with S&P 500 futures . Interactive Brokers lost nearly 3% in extended trading after posting fourth quarter adjusted earnings that fell short of expectations. The Federal Reserve's beige book and business inventories for November are also slated for Wednesday, along with remarks from New York Federal Reserve Bank President and CEO John Williams.

Persons: Stocks, Christopher Waller, Goldman Sachs, Morgan Stanley, Jeffrey Buchbinder, Dow Jones, Charles Schwab, John Williams Organizations: New York Stock Exchange, Stock, Dow Jones, Nasdaq, Interactive, Federal Reserve, Dow, Bank of America, LPL, U.S . Bancorp, New York Federal Reserve Bank Locations: New York, New

☆ Morning Bid: Small caps pick up baton, China rating hit
▼ + stars: | 2023-12-05 | by ( ) www.reuters.com time to read: +6 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 26, 2023. The likes of Microsoft (MSFT.O), Apple (AAPL.O), Nvidia (NVDA.O) and Amazon (AMZN.O) fell back over 1%, pressured by a modest bounceback in U.S. Treasury yields. China's blue-chip stocks slumped to their lowest since February 2019 amid fears of a possible cut to China's sovereign credit rating cut after Moody's outlook reduction. By Mike Dolan, Editing by Bernadette Baum; <a href="mailto:mike.dolan@thomsonreuters.com" target="_blank">mike.dolan@thomsonreuters.com</a>Our Standards: The Thomson Reuters Trust Principles. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Brendan McDermid, Mike Dolan, Russell, that's, Moody's, Isabel Schnabel, Michael Gibson, Christine Laggard, Mongo, Zero Fox, Bernadette Baum Organizations: New York Stock Exchange, REUTERS, Reserve, Microsoft, Apple, Nvidia, Treasury, Reserve Bank of Australia, Central Bank, Reuters, ECB, Barclays, Qatar, P Global, Federal, Division, Supervision, Financial Innovation, Descartes Systems, Health, Powell Industries, Dave, Buster's Entertainment, Reuters Graphics, Thomson Locations: New York City, U.S, Global, York, Treasuries, Europe

☆ The Fed has 'basically become a giant hedge fund', says former World Bank President David Malpass
▼ + stars: | 2023-12-05 | 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 EmailThe Fed has 'basically become a giant hedge fund', says former World Bank President David MalpassDavid Malpass, former World Bank president and former Treasury official, joins 'Squawk Box' to discuss the Fed's inflation fight, why he believes the central bank can boost economic growth, state of the U.S. and world economy, and more.

Persons: David Malpass David Malpass Organizations: Bank, World Bank, Treasury

☆ Central bank blunders undermine tough rate talk
▼ + stars: | 2023-12-05 | by ( Francesco Guerrera | ) www.reuters.com time to read: +8 min

Comments by central bankers underline their desire to keep interest rates high until price growth quiesces. Policymakers’ recent mistakes mean they will struggle to convince investors their tough talk is real. U.S. Federal Reserve Chair Jay Powell says his fellow policymakers are “not thinking about rate cuts at all”. In May, after another U.S. regional bank failure, markets concluded that the Fed’s rate hike at the beginning of that month would be its last. Respected central bankers might be able to convince markets that these numbers don’t portend imminent rate cuts.

Persons: Jay Powell, Christine Lagarde, Andrew Bailey, Powell, backtrack, –, Lagarde, Treasuries, BoE, Bailey, Ben Bernanke, Jacob Frenkel, Peter Thal Larsen, Oliver Taslic, Thomas Shum Organizations: Reuters, Traders, U.S . Federal, European Central Bank, Bank of England, titans, Deutsche Bank, Treasury, Reuters Graphics Reuters, LSEG, Silicon Valley Bank, Fed, ECB, Bank of Israel, Federal Reserve, European, Thomson Locations: Silicon, Bailey, United States, Ukraine, Central

☆ Asia shares turn mixed, gold tops $2,100 an ounce
▼ + stars: | 2023-12-04 | by ( Wayne Cole | ) www.reuters.com time to read: +5 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was still up 0.4%, led by gains in South Korea and Australia. Trade figures for China are due later in the week with the recent trend being softening exports to the U.S. overshadowing gains in Asia. S&P 500 futures dipped 0.1%, after finishing at a 20-month high on Friday, while Nasdaq futures lost 0.2%. The dive in yields and the dollar has been a boon for non-yielding gold, which added 0.9% to $2,088 an ounce, after hitting a record of $2,111.39 an ounce . Oil prices have not been so fortunate, amid doubts OPEC+ will be able to maintain planned output cuts.

Persons: Goldman Sachs, Jerome Powell, Claudio Irigoyen, Joachim Nagel, Christine Lagarde, Brent, Wayne Cole, Sam Holmes Organizations: Nikkei, payrolls Shipping, Japan's Nikkei, FTSE, Nasdaq, Federal Reserve, Bank of Japan's, European Central Bank, ECB, Sea, Thomson Locations: Red Sea, SYDNEY, U.S, Israel, Red, Asia, Pacific, Japan, South Korea, Australia, China, Canada

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