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☆ Gold subdued as investors focus on U.S. inflation data
▼ + stars: | 2024-08-12 | by ( ) www.cnbc.com time to read: +1 min

Gold prices struggled for momentum on Monday as investors looked forward to a key inflation report that could shed more light on the U.S. central bank's next policy move. Spot gold eased 0.13% to $2,427.86 per ounce by 0352 GMT, trading in a narrow $10 price range. The U.S. consumer price index data, due on Wednesday, is expected to show that headline and core prices rose 0.2% month-on-month. "Further inflation progress reflected in the upcoming CPI data could see gold eye for a retest of its all-time high once more," said IG market strategist Yeap Jun Rong. Among other metals, spot silver fell 0.3% to $27.36 per ounce, platinum shed 0.47% to $917.83 and palladium fell 0.2% to $903.48.

Persons: Ilya Spivak, Yeap Jun Rong, Michelle Bowman Organizations: Metals, U.S, Federal, Hamas Locations: Krasnoyarsk, Russia, bank's, U.S, Gaza

Here’s the latest:S&P 500 futures were up slightly after fears of a slowdown in growth and hiring rocked the benchmark index last week. Investors endured both a stomach-churning rout on Monday and a bounce-back rally on Thursday. Despite that, the S&P 500 ended the week down just 0.04 percent. The big event this week is Wednesday’s inflation data. Investors are anxious after tepid jobs and manufacturing data suggested a slowdown was on the horizon.

Persons: Michelle Bowman, ” Brian Moynihan, Wall Organizations: Investors, Nvidia, Fed, Bank of America, CBS Locations: Europe, Asia

☆ Former Fed governor on FOMC meeting: Labor market will determine how fast the Fed will cut
▼ + stars: | 2024-07-31 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFormer Fed governor on FOMC meeting: Labor market will determine how fast the Fed will cutLarry Meyer, former Fed governor and LHMeyer chairman, joins 'Squawk on the Street' to discuss his projections on the Fed meeting.

Persons: Larry Meyer Organizations: Former, Labor

☆ The Fed is about to give more clues as to when it will finally start cutting rates
▼ + stars: | 2024-07-31 | by ( Bryan Mena | ) edition.cnn.com time to read: +4 min

Fed officials in recent speeches have said they’re pleased with the latest inflation data, acknowledging the steady progress but saying they’re not quite fully comfortable yet with slashing rates. “We set this rate when inflation was over 4%, and inflation is now, let’s call it, 2.5%. He has said that an unexpected weakening in the labor market would prompt the Fed to consider cutting rates sooner than expected. Economic growth in 2024 has been solid so far, despite the highest interest rates in nearly a quarter century. But the Fed’s decision to cut rates will be mainly based on inflation readings, absent any concerning news about the job market.

Persons: they’re, Christopher Waller, Austan Goolsbee, “, Goolsbee, Loretta Mester, Jerome Powell’s, ” Kathleen Grace, Waller, ” Powell, Powell Organizations: Washington CNN, Federal, Fed, Chicago Fed, Wall Street, Cleveland Fed, CNN, Labor

☆ It’s not the end of the world if the Fed doesn’t cut rates tomorrow
▼ + stars: | 2024-07-30 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +4 min

New York CNN —The Federal Reserve is all but certain to hold interest rates steady at its meeting this week. That’s why Torsten Slok, Apollo Global’s chief economist, is maintaining his prior forecast that the Fed won’t cut rates at all this year. “There are still two more CPI releases before the September 18 [Fed] meeting, so we have to wait and see if the downtrend in inflation continues,” he told CNN. Fed officials have signaled that September will be when they finally lower interest rates. The difference between a few months for that initial cut “really doesn’t matter unless there’s some big shock that hits the economy in that time,” Fed Governor Christopher Waller said earlier this month.

Persons: Alan Blinder, Paul Krugman —, Blinder, what’s, Brandon Bell, Torsten Slok, Apollo, ”, Sean Snaith, it’s, Christopher Waller, Waller Organizations: New, New York CNN, Federal, CNN, ” University of Central, ” Locations: New York, ” University of Central Florida, Iran, Israel

☆ Treasury yields rise as investors weigh rate outlook
▼ + stars: | 2024-07-19 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

ET, the yield on the 10-year Treasury was up by over one basis point to 4.2000%. The 2-year Treasury yield was last less than one basis point higher to 4.4706%. U.S. Treasury yields were higher on Friday as investors considered the path ahead for interest rates after the latest comments from Federal Reserve officials. Investors digested remarks from Fed policymakers made throughout the week as they weighed the potential path ahead for interest rates. Fed Chairman Jerome Powell also this week said that rate cuts would begin before inflation reaches the 2% target.

Persons: Mary Daly, we're, Daly, Christopher Waller, Jerome Powell Organizations: Treasury, U.S, Federal Reserve, San Francisco Fed, Fed

Mortgage rates are down this week, with 30-year mortgage rates averaging around 6.30%, according to Zillow data. This should remove some of the upward pressure off of mortgage rates and allow them to trend down. 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. Now that the Fed has paused hiking rates, mortgage rates have come down a bit. Once the Fed starts cutting rates, which may happen this year, mortgage rates should fall even further.

Persons: Christopher Waller, Waller, Freddie Mac Organizations: Federal Reserve Bank of Kansas City, Fed, Zillow, Federal Reserve Locations: Chevron

☆ The 'Trump trade' is winding down, and the Fed's rate plans are back in focus
▼ + stars: | 2024-07-18 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Read previewBarely a week after the failed assassination of former US President Donald Trump, investors are already moving on from the "Trump trade." The "Trump trade" refers to investor strategies that reflect the market consequences of a second Trump presidency. Schumacher said the "Trump trade" has run its course and is "about done for now." Focus on Fed interest rate decisionTo be sure, a second Trump presidency — including his administration's trade and tariff policies — would have important implications for the macroeconomy and markets, say most analysts. On Wednesday, Fed Governor Christopher Waller indicated that the central bank would cut "in the not-too-distant future."

Persons: —, Donald Trump, Trump, Michael Schumacher, Schumacher, Vishnu Varathan, Mizuho Bank's, Jerome Powell, Christopher Waller Organizations: Service, Trump, Business, Federal Reserve, US Treasury, Bloomberg, Wells, Wells Fargo Securities, Fed, Swiss, UBS Locations: Wells Fargo, Asia, Japan

☆ Gold shines on rising Fed rate-cut outlook
▼ + stars: | 2024-07-18 | by ( ) www.cnbc.com time to read: +2 min

Spot gold rose 0.1% to $2,461.27 per ounce, as of 0218 GMT. Fed Governor Christopher Waller and New York Fed President John Williams both noted the shortening horizon toward looser monetary policy. Separately, Richmond Fed President Thomas Barkin said he is "very encouraged" on broadening declines in inflation. "Over the next 6-12 months, regardless of who wins the (U.S.) election, we see gold rising to $2700-$3000 and silver to $38," Citi Research said. Spot silver rose 0.2% to $30.35, platinum steadied at $994.81 and palladium gained 0.4% to $955.77.

Persons: Ryan McIntyre, Christopher Waller, John Williams, Thomas Barkin, CME's Organizations: Sprott Asset Management, Holdings, New York Fed, Richmond Fed, Federal, Citi Research, Investors, U.S Locations: U.S, ., China

☆ Treasury yields tick higher as markets digest comments by Fed officials
▼ + stars: | 2024-07-18 | by ( Katrina Bishop | ) www.cnbc.com time to read: +2 min

The yield on the 10-year Treasury was trading around 4.1672% at 2:20 a.m. The yield on the 2-year Treasury was also 2 basis points higher at 4.4524%. U.S. Treasury yields moved higher on Thursday as investors digested a range of comments by Federal Reserve officials and what they could mean for interest rates. It comes as traders increasingly bet on a September interest rate cut by the Federal Reserve, with a reduction in July now seen as highly unlikely. Earlier this week, Federal Reserve Chair Jerome Powell said interest rates would likely be cut before inflation reaches 2%.

Persons: Christopher Waller, John Williams, Thomas Barkin, Jerome Powell, you've, Powell, Dow Jones, —, Jeff Cox Organizations: Treasury, U.S, Federal Reserve, Federal, York Fed, Wall Street Journal, Richmond Fed, Deutsche Bank, Economic, of Washington D.C

☆ The Fed is 'getting closer' to cutting interest rates, top official says
▼ + stars: | 2024-07-17 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +1 min

The Fed will cut rates in the "not-too-distant future" if inflation and the labor market remain favorable. That's according to Fed Governor Christopher Waller, who delivered remarks on Wednesday. Other Fed officials still say they still need to see more data inflation is cooling. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe Federal Reserve is getting ready to cut interest rates.

Persons: Christopher Waller, — Organizations: Service, Reserve, Kansas City Fed, Business

☆ Gold eases after hitting fresh record
▼ + stars: | 2024-07-17 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +2 min

One kilogram gold bullion at the YLG Bullion International Co. headquarters in Bangkok, Thailand, on Friday, Dec. 22, 2023. Gold prices extended their rise to a fresh all-time high on Wednesday, as growing optimism for an interest-rate cut from the U.S. Federal Reserve in September and a weaker dollar boosted demand. Spot gold eased about 0.2% to $2,462.85 per ounce, driven by profit-taking, after the bullion hit a high of $2,482.29 earlier in the session. Markets now see a 98% chance of a U.S. rate cut in September, according to the CME FedWatch Tool. Lower interest rates decrease the opportunity cost of holding non-yielding bullion and weigh on the dollar, making gold cheaper for investors holding other currencies.

Persons: David Meger, Christopher Waller Organizations: Co, U.S . Federal Reserve, High, Fed Locations: Bangkok, Thailand, U.S

☆ Fed Governor Waller sees central bank 'getting closer' to an interest rate cut
▼ + stars: | 2024-07-17 | by ( Jeff Cox | ) www.cnbc.com time to read: +4 min

Federal Reserve Governor Christopher Waller on Wednesday suggested that interest rate cuts are ahead soon as long as there are no major surprises on inflation and employment. "So, while I don't believe we have reached our final destination, I do believe we are getting closer to the time when a cut in the policy rate is warranted." Keeping with statements from other policymakers, Waller's sentiments point to an unlikelihood of a rate cut when the Federal Open Market Committee meets later this month, but a stronger likelihood of a move in September. "Given that I believe the first two scenarios have the highest probability of occurring, I believe the time to lower the policy rate is drawing closer," Waller said. Williams noted that inflation data is "all moving in the right direction and doing that pretty consistently" and is "getting us closer to a disinflationary trend that we're looking for."

Persons: Christopher Waller, Waller, John Williams, Williams Organizations: Federal, Kansas City Fed, Market Committee, CNBC, New York Fed, Wall Street, Fed, Traders

☆ Trump says he would let Fed Chair Powell finish his term if he wins in November, Bloomberg reports
▼ + stars: | 2024-07-16 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +1 min

Donald Trump will allow Federal Reserve Chair Jerome Powell to complete his term at the central bank if he won the November election, the Republican presidential candidate told Bloomberg Businessweek in an interview. "I would let him serve it out, especially if I thought he was doing the right thing," Trump told Bloomberg Businessweek. President Joe Biden nominated Powell to serve a second four-year term as Fed chief in May 2022. As recently as February of this year, Trump told Fox Business that he would not reappoint Powell to lead the Fed. Read the Bloomberg Businessweek article here.

Persons: Donald Trump, Jerome Powell, Trump, Joe Biden, Powell, —, reappoint Powell, Maria Bartiromo Organizations: Republican National Convention, Federal, Republican, Bloomberg Businessweek, Fed, Fox Business Locations: Milwaukee , Wisconsin, U.S

☆ Gold drifts higher as U.S. rate cut optimism boosts appeal
▼ + stars: | 2024-07-16 | by ( ) www.cnbc.com time to read: +2 min

A five hundred gram gold bar, left, and a a one kilogram gold bar, produced by Swiss manufacturer Argor Hebaeus SA, in Budapest, Hungary. Gold prices nudged higher on Tuesday as comments from Federal Reserve Chair Jerome Powell bolstered the case for a September rate cut, while investors awaited more U.S. economic data for further monetary policy cues. Spot gold rose 0.1% to $2,423.89 per ounce by 0140 GMT. A rate cut in September is now fully priced in by markets, which may keep sentiments in gold prices well-supported in the lead-up," said IG market strategist Yeap Jun Rong. Investors were awaiting U.S. retail sales data due at 1230 GMT on Tuesday and comments from Fed governors Christopher Waller and Adriana Kugler later this week for further direction.

Persons: Jerome Powell, Powell, Yeap Jun Rong, Christopher Waller, Adriana Kugler, Yeap Organizations: Argor Hebaeus SA, Federal, Investors, Reuters Locations: Swiss, Budapest, Hungary

☆ These kinds of businesses are driving a surge in US corporate bankruptcies
▼ + stars: | 2024-07-14 | by ( Bryan Mena | ) edition.cnn.com time to read: +8 min

In the meantime, you can stay up to date on the latest business news with CNN’s Business Nightcap newsletter. Access to credit is especially crucial for small, private businesses that aren’t able raise money through financial markets. “There were a number of programs out there to support small businesses during the depths of the pandemic, and there were relatively fewer filings than usual in 2021 and 2022.”Rising corporate bankruptcies could just reflect a lot of churn occurring in Corporate America, Jamner said. Don’t panicMost banks offer free checking if, for instance, customers have their paycheck direct deposited or they maintain an average minimum balance, reports my colleague Jeanne Sahadi. Marianne Lake, the head of Chase Bank, told the Wall Street Journal last week that Chase might stop offering free checking and other free banking services.

Persons: It’s, ” “, Matt Rowe, Josh Jamner, Jamner, we’re, Reena Aggarwal, “, ”, Banks, Jeanne Sahadi, Marianne Lake, Chase, Jaret, Read, Goldman Sachs, Jerome Powell, Mary Daly, Morgan Stanley, Charles Schwab, Adriana Kugler, Johnson, Kinder Morgan, Tom Barkin, Lorie Logan, Michelle Bowman, John Williams, Raphael Bostic Organizations: CNN’s Business, Washington CNN —, P Global Market Intelligence, CNN, Federal Reserve Bank of Kansas, Nomura Capital Management, Consumer, Institute for Supply, P, ClearBridge Investments, ”, Corporate America, Federal, Fed, Georgetown University Psaros Center, Financial Markets, Chase Bank, Wall, TD Securities, BlackRock, San Francisco Fed, Bank of America, PNC, State, US Commerce Department, US Labor Department, National Association of Home Builders, Johnson, US Bancorp, Discover, Vegas Sands, Northern Trust, Citizens, United Airlines, National Statistics, Federal Reserve, Richmond Fed, Netflix, Novartis, Abbott Laboratories, Marsh, Blackstone, Infosys, Cintas, T Bank, Nokia, American Airlines, European Central Bank, American Express, Fifth Third Bancorp, AutoNation Locations: Federal Reserve Bank of Kansas City, Corporate, UnitedHealth, Wells Fargo, Vegas, Equifax, Northern, McLennan, Schlumberger, Haliburton

☆ Gold climbs as traders brace for U.S. inflation data
▼ + stars: | 2024-07-11 | by ( ) www.cnbc.com time to read: +2 min

Gold prices firmed for a third consecutive session on Thursday, with investors awaiting U.S. inflation data due later in the day for more insights on the Federal Reserve's interest rate path. Gold prices firmed for a third consecutive session on Thursday, with investors awaiting U.S. inflation data due later in the day for more insights on the Federal Reserve's interest rate path. Any downside surprise in the CPI report could weaken the dollar and push up gold prices to the $2,400 level, said Marex analyst Edward Meir. Fed Chair Jerome Powell said on Wednesday that the U.S. central bank would make interest rate decisions "when and as" they were needed. Spot silver climbed 0.7% to $31.04 per ounce, platinum firmed 0.4% to $993.25 and palladium gained 0.7% to $992.90.

Persons: Edward Meir ., Lisa Cook, Meir, Jerome Powell, Wang Tao Organizations: Index, Traders Locations: U.S

☆ Why June CPI is going to be a big moment for stock market bulls, according to Fundstrat's Tom Lee
▼ + stars: | 2024-07-10 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

The June CPI report will show a continued drop in inflation, according to Fundstrat's Tom Lee. Lee expects a soft June CPI report will push the Fed to cut rates more than two times this year. "It's going to be a week of reckoning, and I mean a reckoning of how people view inflation and the state of the economy." Lee is also bullish on small-cap stocks, which have badly lagged the broader stock market rally so far this year. AdvertisementJPMorgan's trading desk also expects a light June CPI report will boost stock prices.

Persons: Tom Lee, Lee, —, it's, What's, JPMorgan's Andrew Tyler Organizations: Service, Federal Reserve, CPI

☆ Stock market today: US stocks rise to records ahead of key June inflation report
▼ + stars: | 2024-07-08 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

US stocks jumped to record highs ahead of key economic data releases this week. AdvertisementUS stocks jumped to record highs on Monday ahead of key economic data scheduled for this week. Investors will be keenly focused on the June consumer price index report on Thursday, with Core CPI expected to rise 3.1% year-over-year, compared to May's CPI report of 3.3%. More inflation data will be released on Friday with the release of the June PPI report, which is expected to rise 0.1% on a month-over-month basis. The new inflation data will help inform investors and the Federal Reserve about the path of interest rates for the rest of this year.

Persons: Powell, —, Jerome Powell, Wells, Katie Stockton, Stockton Organizations: PPI, Service, Federal Reserve, Fed, Fed Governors, JPMorgan, Citigroup, Here's Locations: Wells Fargo

☆ 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

☆ 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

☆ Markets are adjusting to stubborn inflation. Election noise could spoil the calm
▼ + stars: | 2024-06-27 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

Add to that the noise surrounding the US election, and it could be a rougher second half. Central Banks in Canada and the eurozone have both cut interest rates, but inflation rose in both of those regions last month. Australia, meanwhile, saw its inflation rate rise to 4% this week, stoking fears that the Reserve Bank of Australia could soon move to raise rates again. It was already well known that no documentation was found to show who worked on the door plug. Without the bolts, the door plug incident was pretty much inevitable.

Persons: London CNN —, they’ve, Michelle Bowman, she’s, Mary Daly, Austan Goolsbee, stoking, Joe Biden, Donald Trump, ”, José Torres, Torres, wouldn’t, Joseph Stiglitz, Trump, Trump’s, Max, “, Al Michaels, Michaels, Peacock, ” Michaels, ‘, CNN Michaels, Read Organizations: CNN Business, Bell, London CNN, Federal Reserve, foibles, San Francisco Fed, Chicago Fed, Central Banks, Reserve Bank of Australia, Interactive Brokers, Treasury, Trump, Peterson Institute, Oxford Economics, Allianz, CNN, Boeing, Alaska, Alaska Airlines, National Transportation Safety Board, Alaska Air, NBC, Summer Games, Olympics Locations: London, Canada, Australia, Renton , Washington, Paris, ’

☆ 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

☆ Gold prices lingers near two-week low as traders eye U.S. inflation data
▼ + stars: | 2024-06-27 | by ( ) www.cnbc.com time to read: +2 min

Gold prices steadied on Thursday after falling to a two-week low in the previous session, while investors awaited U.S. inflation data for insights into how soon the Federal Reserve will cut interest rates. Gold prices steadied on Thursday after falling to a two-week low in the previous session, while investors awaited U.S. inflation data for insights into how soon the Federal Reserve will cut interest rates. Data due this week include the U.S. first-quarter gross domestic product estimates are due at 1230 GMT and the personal consumption expenditures inflation data on Friday. "Gold prices remain tangled in a tug of war between a less dovish Fed and high levels of geopolitical tension," analysts at BMI said in a note dated Wednesday. "The main driver of easing gold prices in the longer term will be greater risk-on sentiment as the global economy recovers in the later part of the decade."

Persons: Tim Waterer, Michelle Bowman, Waterer Organizations: Federal Reserve, U.S, KCM Trade, U.S ., Fed, BMI Locations: .

☆ There's a big Fed inflation reading coming Friday. Here's what to expect
▼ + stars: | 2024-06-27 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

There could be some pretty good inflation news on the way from the Commerce Department when it releases a key economic report Friday. If that date rings a bell, it's when core PCE first passed the Fed's coveted 2% inflation target during this cycle. Should the core PCE price forecasts transpire, it will serve as a milestone of sorts. "We are in line with [the forecast] that the PCE core pricing data will come in soft," said Beth Ann Bovino, chief economist at U.S. Bank. In addition to the inflation numbers, the Commerce Department at 8:30 a.m.

Persons: Dow Jones, Beth Ann Bovino, It's, pocketbooks, Lisa Cook, Cook, Bovino Organizations: Commerce Department, Federal Reserve, U.S . Bank, Fed Locations: Brooklyn , New York

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