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☆ Australia's central bank ends 2024 with a dovish pivot, jolting markets
▼ + stars: | 2024-12-10 | by ( ) www.cnbc.com time to read: +1 min

People walk past the Reserve Bank of Australia building in the central business district of Sydney on July 4, 2017. Australia's central bank held interest rates steady at its last meeting of the year but softened its hawkish tone by noting the board is gaining "some confidence" that inflation was heading back to target. The Australian dollar fell 0.8% to $0.6380 and there-year bond futures rallied 5 ticks to 96.26, the highest since October. Wrapping up its December policy meeting, the Reserve Bank of Australia kept the cash rate unchanged at 4.35% where it has been all year. The statement omitted a previous line that the RBA Board was "not ruling anything in or out" as well as policy needing to remain restrictive.

Persons: Michele Bullock Organizations: Reserve Bank of Australia, RBA Locations: Sydney, Australia's

☆ Gold hits two-week high in the run-up to U.S. inflation data
▼ + stars: | 2024-12-10 | by ( ) www.cnbc.com time to read: +2 min

Gold bar replicas are displayed at the Prospectors and Developers Association of Canada (PDAC) annual conference in Toronto, Ontario, Canada March 7, 2023. Gold prices hit a two-week high on Tuesday, underpinned by rising geopolitical tensions and expectations of a third U.S. rate cut by the Federal Reserve next week, while the market's gaze shifted to Wednesday's U.S. inflation data. "The CPI data will have limited impact on gold, especially if we get a print around the expected figure. Gold is considered a safe investment during economic and geopolitical turmoil and tends to thrive in a lower interest rate environment. Spot silver added 0.6% to $32.00 per ounce, platinum fell 0.4% to $935.55 and palladium was down 0.6% at $968.00.

Persons: Peter Grant, Fawad, Razaqzada Organizations: Developers Association of Canada, Federal Reserve, Wednesday's, Zaner Metals, Bank of, ECB, SNB, U.S . Consumer, Index, Forex.com Locations: Toronto , Ontario, Canada, U.S, Bank of Canada, China

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

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

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

☆ The CPI report Wednesday is expected to show progress on inflation has hit a wall
▼ + stars: | 2024-12-10 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Kamil Krzaczynski | AFP | Getty ImagesA key economic report coming Wednesday is expected to show that progress has stalled in bringing down the inflation rate, though not so much that the Federal Reserve won't lower interest rates next week. Excluding food and energy, so-called core inflation is forecast at 3.3%, or unchanged from October. With the Fed targeting annual inflation at 2%, the report will provide more evidence that the high cost of living remains very much a fact of life for U.S. households. Halting progress, but more cutsTo be sure, inflation has moved down considerably from its CPI cycle peak around 9% in June 2022. Car prices are expected to show a 2% monthly increase, while air fares are seen as 1% higher, the firm's economists projected in a note.

Persons: Kamil Krzaczynski, Dow Jones, Dan North, Goldman Sachs, Goldman Organizations: AFP, Getty, Federal, Allianz Trade, of Labor Statistics, CPI Locations: Chicago, U.S

☆ Gold firms as investors await U.S. inflation data for Fed clues
▼ + stars: | 2024-12-09 | by ( ) www.cnbc.com time to read: +2 min

Gold prices gained on Monday as investors awaited U.S. inflation data due this week for clues on the Federal Reserve's next monetary policy moves. Gold prices gained on Monday as investors awaited U.S. inflation data due this week for clues on the Federal Reserve's next monetary policy moves. Top consumer China resumed buying gold for its reserves in November after a six-month pause. Traders are now looking forward to U.S. inflation data due on Wednesday. Gold is often seen as a safe-haven asset during times of economic or political uncertainty.

Persons: Bullion, Yeap Jun Rong, Yeap, Bashar al, Assad Organizations: Federal, People's Bank of China, China, U.S, Federal Reserve Locations: U.S, Damascus, Russia

☆ Oil prices mixed as rising Mideast tensions offset demand concerns
▼ + stars: | 2024-12-09 | by ( ) www.cnbc.com time to read: +1 min

Oil prices were mixed in early Asia trade on Monday as concerns over weak Chinese demand were offset by rising tensions in the Middle East following the rebel overthrow of Syrian President Bashar al-Assad. Brent crude futures fell by 1 cent to $71.11 per barrel by 1117 GMT. Saudi Aramco, the world's biggest crude oil exporter, has reduced its January 2025 prices for Asian buyers to the lowest level since early 2021, it said on Sunday, as weak demand from top importer China weighs on the market. On the supply side, a rising number of oil and gas rigs deployed in the United States last week, pointing to rising output from the world's biggest crude producer, also pushed prices lower. On Thursday, the Organization of the Petroleum Exporting Countries and its allies, a group known as OPEC+, pushed back the start of oil output rises by three months until April and extended the full unwinding of cuts by a year until the end of 2026.

Persons: Bashar al, Assad, Brent, WTI, al Organizations: . West Texas, Saudi Aramco, China, Organization of, Petroleum Locations: Asia, Saudi, United States, OPEC

☆ European markets set for a flat to lower start to the new trading week
▼ + stars: | 2024-12-09 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +1 min

European markets are expected to start the new trading week on a somber note, looking set to open in flat to lower territory Monday. Traders will be assessing geopolitical upheaval in the Middle East after the ousting of Syrian President Bashar al-Assad over the weekend. South Korea's Kospi stock index fell over 2% after President Yoon Suk Yeol survived an impeachment vote over the weekend. The November consumer price index, due out Wednesday, is expected to show a slight uptick in pricing pressures. Economists polled by Dow Jones expect a 0.3% and 2.7% monthly and yearly increase, respectively.

Persons: Germany's DAX, Bashar al, Assad, Yoon Suk Yeol, Dow Jones Organizations: France's CAC, IG, Traders, Nasdaq Locations: Europe, Asia, Pacific

☆ Asia markets set to open higher as investors await Japan GDP and China inflation data
▼ + stars: | 2024-12-09 | by ( Dylan Butts | ) www.cnbc.com time to read: 1 min

Asia-Pacific markets were set to open mostly higher Monday as traders await China's November inflation data as well as revised economic growth data from Japan. Japan's Nikkei 225 futures pointed to a higher open for the market, with the futures contract in Chicago at 39,450 and its counterpart in Osaka at 39,440 compared to the previous close of 39,091.17. Hong Kong Hang Seng index futures were at 19,821 lower than the HSI's last close of 19,865.85. Australia's S&P/ASX 200 opened to trade down 0.35%.

Persons: Australia's Organizations: Japan's Nikkei Locations: Asia, Pacific, Japan, Chicago, Osaka, Hong Kong

☆ Barclays upgrades Robinhood as retail trading activity shows no signs of easing
▼ + stars: | 2024-12-09 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +2 min

Analyst Benjamin Budish upgraded the online brokerage to overweight from equal weight. He also raised his price target of $49 from $26, implying that shares could rise nearly 18% from Friday's close. Robinhood has also benefited from strong stock market gains, leading to greater retail trading activity. "While we do expect a market downturn would negatively impact engagement on Robinhood, the trend in retail trading is now clearer to us as a longer-enduring trend," Budish said. LSEG data shows 11 of 17 analysts covering Robinhood have a buy or strong buy rating, while another five rate it as a hold.

Persons: Benjamin Budish, Robinhood, Budish, Donald Trump Organizations: Barclays Locations: Friday's, bitcoin, Robinhood

“My POV on the risks and benefits of bitcoin hasn’t changed much, if at all,” said Samuel Deane, president and CEO of Deane Wealth Management, a financial advisory firm. While he’s a long-term bitcoin investor himself, clients who’ve added crypto to their portfolios are “doing it on their own after we establish the proper guardrails,” he said. “First understand the basics of bitcoin as a decentralized digital currency,” he advised, which includes taking stock of its volatility. He said he advises first-time crypto investors not to allocate more than 2% of their portfolios to bitcoin. For the crypto industry, “Gensler’s departure in and of itself was a positive,” said Isaac Boltansky, a director of policy research at the financial firm BTIG.

Persons: Donald Trump, hasn’t, ”, Samuel Deane, I’ve, Trump, David Sacks, Paul Atkins, Atkins, Deane, who’ve, “, that’s, Lee Baker, you’ve, ” Baker, he’s, Baker, Jerome Powell, it’s, “ it’s, ” Crypto, Gary Gensler’s, Joe Biden, Isaac Boltansky, Gensler, Boltansky, He’ll, Hester Peirce, Mark Uyeda, George W, Bush, Kevin Mahoney, “ That’s Organizations: Deane Wealth Management, White, Securities and Exchange Commission, Claris Financial, SEC, Federal, FBI, Senate, Commodity Futures Trading Commission, Republican Locations: America

☆ Stock futures are little changed after S&P 500 posts third-straight winning week: Live updates
▼ + stars: | 2024-12-08 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

Traders works on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., December 2, 2024. U.S. stock futures were little changed Sunday night after the S&P 500 and Nasdaq Composite posted their third straight winning week, ahead of key inflation data due out this week. Dow Jones Industrial Average futures rose by 11 points, or 0.02%. S&P 500 futures gained 0.02%, while the Nasdaq 100 futures was flat. The S&P 500 and Nasdaq closed at fresh records Friday, rising 0.96% and 3.34% for the week, respectively.

Persons: Dow, Wharton, Jeremy Siegel, CNBC's, Dow Jones Organizations: New York Stock Exchange, Nasdaq, Dow Jones Industrial, Reserve Locations: New York City, U.S

☆ Here are 4 things we’re watching in the stock market in the week ahead
▼ + stars: | 2024-12-08 | by ( Zev Fima | ) www.cnbc.com time to read: +10 min

Technology stocks stood tall in the first week of December trading, helping the S & P 500 and Nasdaq Composite finish Friday's session at record closing highs. The S & P 500 closed nearly 1% higher. .IXIC .SPX 1M mountain The Nasdaq Composite versus the S & P 500 over the past month. Salesforce and Broadcom contributed to the S & P 500's technology sector being one of three to finish the week in positive territory, adding 3.4%. The remaining eight sectors in the S & P 500 ended the week lower, led to the downside by energy, utilities, and materials.

Persons: Brian Thompson, Dow Jones, —, Salesforce, Apple, we'll, they'll, Jerome Powell's, LSEG, we're, We're, Morgan Stanley, OLLI, Buster's, Jim Cramer's, Jim Cramer, Jim, Michael Nagle Organizations: Nasdaq, Dow Jones, UnitedHealth, Dow, Federal, Commerce, Broadcom, Bloomberg, Apple, Tech, Tesla, Amazon, Netflix, Club, PPI, Costco, VMWare, Toll, Casey's, Academy Sports, Brands, GameStop, CNBC, Getty Locations: New York City, U.S, Wells, New York

The broad market S&P 500 climbed 0.25% to 6,090.27. The Dow Jones Industrial Average slipped 123.19 points, or 0.28%, to close at 44,642.52. The S&P 500 and Nasdaq went on to their third straight positive week as well, rising 0.96% and 3.34%, respectively. The unemployment rate nudged up to 4.2%, as expected. Following the not-too-hot, not-too-cold unemployment data, fed funds futures trading data reflected an 85% likelihood of another rate cut in two weeks to 85%, according to the CME Group’s FedWatch Tool.

Persons: Dow, Dow Jones, ”, Luke O’Neill, “ It’s, Jerome Powell Organizations: Nasdaq, Federal Reserve, Tech, Dow Jones, Dow, Catalyst Funds, Fed Locations: U.S

☆ The U.S. added 227,000 jobs in November, as hiring recovers from storms and a strike
▼ + stars: | 2024-12-06 | by ( Jeff Cox | Jeff Cox Is A Finance Editor With Cnbc.Com Where He Covers All Aspects Of The Markets | Monitors Coverage Of The Financial Markets | ) www.nbcnews.com time to read: +3 min

The unemployment rate, however, edged higher to 4.2%, as expected. The unemployment rate rose as the labor force participation rate moved lower and the labor force itself declined. Other officials have said they see additional interest rate cuts as being likely but subject to changes in the economic data. At the same time, the October jobs report and various other reports have pointed to a labor market that is still growing but slowing. According to the BLS, household employment rose by 174,000 on the month even as the labor force contracted by 193,000.

Persons: Nonfarm, Dow Jones, Jerome Powell Organizations: of Labor Statistics, Traders

☆ Fed fund futures rally on November jobs report
▼ + stars: | 2024-12-06 | 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 EmailFed fund futures rally on November jobs reportCNBC's Rick Santelli joins 'Power Lunch' with the latest news from the bond market.

Persons: Rick Santelli

☆ Oil prices dip as extended OPEC+ supply cuts highlight weak demand
▼ + stars: | 2024-12-06 | by ( ) www.cnbc.com time to read: +2 min

An oil pump jack pumps oil in a field near Calgary, Alberta, July 21, 2014. Pump jacks are used to pump crude oil out of the ground after an oil well has been drilled. Oil prices slipped in early Asian trading on Friday, with weak demand in focus after the OPEC+ group postponed planned supply increases and extended deep output cuts to the end of 2026. The Organization of the Petroleum Exporting Countries and its allies on Thursday pushed back the start of oil output rises by three months until April and extended the full unwinding of cuts by a year until the end of 2026. The latest extension puts OPEC+ output below major banks' previous forecasts, which could provide some support for the market going forward, analysts at energy-focused consultancy FGE said.

Persons: Brent, WTI, Mukesh Sahdev, FGE, Amarpreet Singh, Singh Organizations: Brent, . West Texas, of, Petroleum, Rystad Energy, Barclays Locations: Calgary , Alberta, OPEC, China

☆ Asia markets set to open higher as investors assess Japan household spending data
▼ + stars: | 2024-12-06 | by ( Dylan Butts | ) www.cnbc.com time to read: +1 min

Traders in Asia assessed household spending data out of Japan. Spending grew 2.9% in October compared to the previous month, beating expectations of a 0.4% growth by economists polled by Reuters. Year-over-year, household spending fell 1.3% in October, less than an expected 2.6%. Japan's Nikkei 225 futures pointed to a higher open for the market, with the futures contract in Chicago at 39,405 and its counterpart in Osaka at 39,400 compared to the previous close of 39,395.60. Hong Kong Hang Seng index futures were at 19,637 higher than the HSI's last close of 19,560.4.

Persons: Richard A, Brooks, Australia's Organizations: Afp, Getty, Dow Jones, Traders, Reuters, Nikkei Locations: Tokyo, Asia, Pacific, Japan, Chicago, Osaka, Hong Kong

☆ Payrolls increased 227,000 in November, more than expected; unemployment rate at 4.2%
▼ + stars: | 2024-12-06 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

Nonfarm payrolls increased by 227,000 for the month, compared to an upwardly revised 36,000 in October and the Dow Jones consensus estimate for 214,000. The unemployment rate, however, edged higher to 4.2%, as expected. The unemployment rate rose as the labor force participation rate edged lower and the labor force itself declined. The survey of households, which is used to calculate the unemployment rate, painted a similar picture as the establishment survey that provides the headline payrolls count. According to the BLS, household employment rose by 174,000 on the month even as the labor force contracted by 193,000.

Persons: Nonfarm, Dow Jones, Job, Jerome Powell Organizations: of Labor Statistics, Stock, Traders

☆ Gold heads for second weekly fall; focus on U.S. payrolls data
▼ + stars: | 2024-12-06 | by ( ) www.cnbc.com time to read: +2 min

Gold U.S. dollar bullion coins are seen in this photo illustration taken in Moscow, Russia, August 4, 2017. Gold prices edged higher on Friday but headed for a second straight week of decline, while market participants braced for the U.S. payrolls data that is expected to provide cues on the interest rate cut trajectory. Spot gold rose 0.3% to $2,638.66 per ounce by 0346 GMT after hitting its lowest since Nov. 26 earlier in the session. U.S. gold futures rose 0.5% to $2,661.00. Both metals are set for second straight weekly losses.

Persons: Jigar Trivedi, Jerome Powell Organizations: U.S, Reliance Securities Locations: Moscow, Russia, U.S

☆ The Wall Street chatter on the November jobs report
▼ + stars: | 2024-12-06 | by ( Fred Imbert | ) www.cnbc.com time to read: +3 min

The U.S. economy added 227,000 jobs last month, exceeding the Dow Jones estimate of 214,000. In fact, the probability of a Fed rate cut soared to nearly 90% following the data release, according to fed funds futures data via the CME FedWatch tool. Labor demand is slowing, as evidenced by the rise in unemployment rate and the surprisingly limited revisions from weather and strike effects last month. This big rebound from a distorted October read is actually quite balanced and should relieve some economic concerns, as well as keep the December 18th rate cut expectations on track." Elsewhere Friday morning on Wall Street, Goldman Sachs upgraded Robinhood to buy from neutral, citing the company's growth plans.

Persons: Dow Jones, That's, Lindsay Rosner, Seema Shah, Ian Lyngen, Chris Zaccarelli, Adam Hetts, Janus Henderson, Trump, Goldman Sachs, HOOD, James Yaro Organizations: Dow, Federal Reserve, CME, Goldman Sachs Asset Management, Asset Management, Labor, BMO, Northlight, TAM Locations: U.S

☆ OPEC+ members to delay oil production increases
▼ + stars: | 2024-12-05 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +2 min

The OPEC+ oil producers' alliance has postponed plans to unwind several formal and voluntary crude production cuts into 2026 amid a lukewarm outlook for global demand, according to delegate sources and internal documents. Eight OPEC+ members will now extend their 2.2 million-barrel-per day voluntary production decline into the first quarter, and will begin hiking production incrementally between April and September 2026. Several OPEC+ members will also be postponing the unwinding of a second 1.7-million-barrels-per-day cut until the end of next year. "While today’s decision by OPEC+ to delay the unwinding of some of its oil production cuts until April 2025 buys the group some time, the backdrop of weak global oil demand means that it could easily find itself back in a similar position in three months’ time," analysts at Capital Economics said in a note. "In our view, the fundamentals for oil prices remain weak, and the risks to prices are skewed to the downside."

Persons: Ice Brent, Donald Trump — Organizations: Organization of, Petroleum, OPEC, Ice, Capital Economics Locations: United Nations, Baku, Azerbaijan, OPEC, London

☆ Asia-Pacific markets set to open mixed after key Wall Street benchmarks hit record highs
▼ + stars: | 2024-12-05 | by ( Anniek Bao | ) www.cnbc.com time to read: +1 min

Commercial and residential buildings are illuminated at dawn in Seoul, South Korea, on Saturday, Oct. 21, 2023. South Korea has prepared a financial support program of 75.9 trillion won ($56.97 billion) for companies increasing investment in key sectors as well as small businesses struggling with the impact of high interest rates. Asia-Pacific markets are set to open mixed on Thursday, as all three major stock indexes on Wall Street notched record highs, buoyed by a tech rally and comments from Federal Reserve Chair Jerome Powell. Investors in Asia will continue to monitor the political situation in South Korea. South Korea released its revised gross domestic product in the third quarter, which showed the economy expanding 0.1% quarter-on-quarter, and 1.5% on an annual basis.

Persons: Jerome Powell, Yoon Suk, Australia's Organizations: Federal, Investors, Nikkei Locations: Seoul, South Korea, Asia, Pacific, Chicago, Osaka

☆ Food prices are at their highest levels in over a year. And these items will get even more expensive
▼ + stars: | 2024-12-05 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +5 min

Athvisions | E+ | Getty ImagesGlobal food prices recently rose to an 18-month high, with some food baskets expected to continue climbing, according to market watchers. In October, world food commodity prices were at their highest since April 2023, according to the most recent data compiled by the United Nations' Food and Agriculture Organization. The FAO Food Price Index, which monitors the prices of five food baskets: grains, meat, dairy, vegetable oils and sugar, rose by 2% in October, driven primarily by a surge in vegetable oil prices. The index measures raw commodity prices rather than retail costs, but the increase suggests that higher food prices may continue to affect consumers. While coffee and cocoa prices are not reflected in the FAO index, prices of the two commodities face the "most risk," said Biggin.

Persons: Cheang Kang Wei, Cheang, Stephen Nicholson, Patrick T, Fallon, Matthew Biggin, Cindy Ord, Cote Organizations: Getty, United Nations, Food, Agriculture Organization, FAO Food Price, CNBC, Fitch Solutions, BMI, Beef, Rabobank, AFP, Feeder, Chicago Mercantile Exchange, Agriculture, Horticulture Development, FAO, ICE, Cote D'Ivoire, U.S . Intercontinental Exchange, Citi Locations: El, Indonesia, U.S, Redondo Beach , California, FactSet, Brazil, West Africa

☆ European markets head for negative open after France's government loses confidence vote
▼ + stars: | 2024-12-05 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +1 min

European stocks are set to open in negative territory Thursday, with French markets in focus after Prime Minister Michel Barnier's government was toppled in a vote of no confidence Wednesday. A majority of lawmakers from both the left-wing New Popular Front alliance and the far-right National Rally supported a no-confidence motion in the country's lower house yesterday evening. The move angered opposition parties and, last night, deputies on the left and right ousted the government. Barnier is expected to resign Thursday, but he could remain in charge of a caretaker government while President Emmanuel Macron searches for a replacement. Elsewhere overnight, Asia-Pacific markets traded mixed after Wall Street stock benchmarks notched record highs yesterday.

Persons: Michel Barnier's, Barnier, Emmanuel Macron Organizations: Front, Wall Locations: Asia, Pacific, U.S, Europe

☆ Stock futures are little changed ahead of key jobs report: Live updates
▼ + stars: | 2024-12-05 | by ( Pia Singh | ) www.cnbc.com time to read: +1 min

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., November 22, 2024. Stock futures were near the flatline Thursday night as investors awaited key payrolls data. Futures tied to the Dow Jones Industrial Average dipped 21 points, or less than 0.1%. S&P 500 futures edged slightly lower, while Nasdaq 100 futures shed 0.1%. Stocks closed Thursday's session lower, retreating from records the major indexes hit in the previous session.

Persons: DocuSign, Dow Jones, Charlie Ripley, Jerome Powell, Dow Organizations: New York Stock Exchange, Stock, Dow Jones, Nasdaq, Ulta, Allianz Investment Management Locations: New York City, U.S, payrolls

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