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☆ Stock market today: US stocks rise ahead of a big week with April inflation on deck
▼ + stars: | 2024-05-13 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

Investors have a big week ahead for economic data, including April CPI and retail sales results. AdvertisementUS stocks edged higher on Monday ahead of a busy week of economic data that could shake stock prices. The most anticipated report for investors this week is Wednesday's release of the April consumer price index report. The inflation data will help investors determine when the Federal Reserve might cut interest rates this year. Ahead of consumer inflation data, the producer price index will be released on Tuesday, with median estimates suggesting a 0.2% rise in April.

Persons: —, Jerome Powell, Neel Kashkari Organizations: Dow Jones, Service, Federal Reserve, Investors, CPI, Philadelphia Fed, Minneapolis Fed Locations: Here's

☆ Gen Z is getting hit hard by inflation
▼ + stars: | 2024-05-12 | by ( Krystal Hur | ) edition.cnn.com time to read: +8 min

For Gen Z, it was the Covid-19 pandemic. Why are we seeing that Gen Z is tapping into their credit more than their Millennial counterparts 10 years ago? Most Gen Z consumers are not homeowners. And so I think that’s been a big cause of what’s been driving a lot of that financial strain that Gen Z consumers have seen. The key is to not use the personal loans to pay off credit card debt and then run your credit card bills right back up after you do that.

Persons: TransUnion, Zers, Millennials, Gen Zers, Bell, Charlie Wise, we’ve, haven’t, You’re, Rishi Sunak, Hanna Ziady, Anna Cooban, Philip Jefferson, Loretta Mester, Jack, Neel Kashkari Organizations: CNN Business, Bell, New York CNN, Gross, Office, National Statistics, Bank of England, P, Federal, Cleveland Fed, Depot, US Labor Department, Cisco Systems, US Commerce Department, National Association of Home Builders, Index, Minneapolis, Walmart, Applied, Co, Baidu, Board Locations: New York, Kingdom, Wells Fargo

☆ Stock market today: Dow aims for 8-day win streak with next week's CPI report in focus
▼ + stars: | 2024-05-10 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

US stocks jumped on Friday as the Dow Jones Industrial Average vied for an 8-day win streak. The upcoming April CPI report next week is the big data point that could move markets. AdvertisementUS stocks edged higher on Friday, setting the Dow Jones Industrial Average up for a potential eight-day win streak. Next week, investors will be laser-focused on the Wednesday release of April's inflation report, with economists expecting a 0.3% rise in the consumer price index. Fundstrat's Tom Lee said a light CPI report next week could set the stock market up for more gains in May.

Persons: —, Jerome Powell, Michelle Bowman, Lorie Logan, Austan Goolsbee, Neel Kashkari, Michael Barr, Tom Lee, Lee Organizations: Dow Jones, Federal Reserve, Service, Federal Locations: Fundstrat, Here's

☆ The Fed on rate cut timeline, restrictive monetary policy and inflation target
▼ + stars: | 2024-05-10 | 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 on rate cut timeline, restrictive monetary policy and inflation targetMinneapolis Fed President Neel Kashkari and Chicago Fed President Austan Goolsbee join 'Power Lunch' to discuss the Fed's next move for rate cuts.

Persons: Neel Kashkari, Austan Goolsbee Organizations: Chicago Fed

☆ Treasury yields pause for breath as traders digest strong jobs data
▼ + stars: | 2024-05-10 | by ( Katrina Bishop | ) www.cnbc.com time to read: +2 min

The 2-year Treasury yield, meanwhile, was marginally higher at 4.819%. U.S. Treasury yields were broadly flat early Friday as traders digested the jump in weekly jobless claims and what this could mean for interest rates. Relief at the auction outcome means traders are now firmly focused — once again — on the interest rate trajectory of the Federal Reserve. Weekly initial jobless claims, released Thursday, hit their highest level since August 2023, coming in at 231,000. It comes after the Bank of England on Thursday held interest rates as expected, but raised expectations of a cut in June.

Persons: —, Henry Allen, Treasurys, Dallas, Lorie Logan, Neel Kashkari, Goolsbee, Michelle Bowman Organizations: Treasury, U.S, Federal Reserve, Deutsche Bank, Bank of England Locations: U.S, Minneapolis

☆ Stock futures are little changed after Dow notches seven-day win streak: Live updates
▼ + stars: | 2024-05-09 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., May 8, 2024. U.S. stock futures were little changed on Thursday night after the Dow Jones Industrial Average posted its longest win streak going back to December. S&P 500 futures climbed 0.09%, while Nasdaq 100 futures gained 0.1%. The S&P 500 gained 0.51%, closing above 5,200 for the first time since early April. The S&P 500 and the Nasdaq Composite were higher by 1.7% and 1.2%, respectively.

Persons: Dow, Chris Hyzy, Stocks, Lorie Logan, Neel Kashkari, Michelle Bowman Organizations: New York Stock Exchange, Dow Jones, Nasdaq, Dow, Federal Reserve, Merrill, Bank of America Private Bank, Fed Locations: New York City, U.S, Dallas, Minneapolis, Chicago

☆ 10-year Treasury yield rises as investors consider remarks from Fed officials
▼ + stars: | 2024-05-09 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

U.S. Treasury yields were higher on Thursday as investors considered remarks from Federal Reserve officials, scanning them for hints about the interest rate outlook. Collins' comments echoed those made by Minneapolis Fed President Neel Kashkari and Richmond Fed President Tom Barkin earlier in the week. More Fed officials are set to speak on Thursday and Friday. Elsewhere, the Bank of England is due to announce its latest interest rate decision on Thursday. The BoE is widely expected to leave interest rates unchanged, but investors will be scanning Governor Andrew Bailey's statement for hints about a potential summer rate cut.

Persons: Susan Collins, Collins, Neel Kashkari, Tom Barkin, BoE, Andrew Bailey's Organizations: Treasury, Federal Reserve, Boston, Wednesday, Minneapolis, Richmond Fed, Fed, Bank of England

☆ Treasury yields inch higher as investors weigh interest rate outlook
▼ + stars: | 2024-05-08 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

Yields and prices have an inverted relationship and one basis point equals 0.01%. ET the yield on the 10-year Treasury was up by more than 1 basis point at 4.479%. U.S. Treasury yields were slightly higher Wednesday as investors weighed the latest remarks from Federal Reserve officials, looking for clues on the path ahead for interest rates. Last week, Fed Chair Jerome Powell said the Fed was unlikely to hike rates at its next meeting. More comments from Fed officials are expected throughout the week, which investors will be scanning for hints about the monetary policy outlook.

Persons: Neel Kashkari, Tom Barkin, Jerome Powell Organizations: Treasury, U.S, Federal Reserve, Minneapolis, Richmond Fed

☆ For US renters, the chance of owning a home is going from bad to worse
▼ + stars: | 2024-05-08 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +7 min

New York CNN —The American dream of homeownership is looking more like a nightmare. With inflation heating up again, the Federal Reserve is in no position to consider lowering interest rates at its upcoming meetings. That’s according to a New York Fed survey gauging consumers’ expectations of the housing market, released Monday. Consumers are gearing up for even bigger increases compared to the expected rise in mortgage rates over the next year, the New York Fed survey found. The issue of rent affordability is particularly pronounced in New York City, where housing costs have always been notoriously high compared to other parts of the country, absent a brief respite during the pandemic.

Persons: That’s, Kenny Lee, Aditya Bhave, Neel Kashkari, Bhave, ” Bhave, “, Perdue “, ”, Read, TikTok, Joe Biden, Brian Fung, Bytedance Organizations: CNN Business, Bell, New York CNN, Federal, New, Fed, Zillow, Bank of America, CNN, Minneapolis, Bloomberg, United States Department of Labor, Seaboard Triumph Foods, Perdue, Labor Department, Seaboard, Labor, Packers Sanitation Services, Appeals, District of Columbia Circuit Locations: New York, New York City, Fayette, DOL, Sioux City , Iowa, Accomac , Virginia, China

The dollar was back on the front foot on Wednesday, making modest gains after earlier losses from renewed bets on Federal Reserve rate cuts this year, while the yen eased towards the 155 per dollar level and kept intervention risks from Tokyo high. The dollar was back on the front foot on Wednesday, making modest gains after earlier losses from renewed bets on Federal Reserve rate cuts this year, while the yen eased towards the 155 per dollar level and kept intervention risks from Tokyo high. Analysts have said that any intervention from Tokyo would only serve as a temporary respite for the yen, given stark interest rate differentials between the U.S. and Japan remain. Analysts expect the central bank to leave the door open to lower interest rates as early as June. The Australian dollar fell 0.2% to $0.6585, pressured in part by a less hawkish outlook from the Reserve Bank of Australia than anticipated after it held interest rates steady on Tuesday.

Persons: Kazuo Ueda, Shunichi Suzuki, they'll, Carol Kong, Neel Kashkari, Kashkari, Rodrigo Catril Organizations: Federal, U.S, Bank of Japan, country's Finance, Commonwealth Bank of Australia, New Zealand, greenback, Minneapolis, Minneapolis Fed, National Australia Bank, Bank of, Reserve Bank of Australia Locations: Tokyo, Beijing, Japan, Bank, U.S, Minneapolis

☆ Gold slips as dollar firms, traders brood on rate cut timing
▼ + stars: | 2024-05-08 | by ( ) www.cnbc.com time to read: +2 min

Spot gold was down 0.1% at $2,311.07 per ounce as of 0235 GMT. The dollar index rose 0.1%, making greenback-priced gold more expensive for other currency holders. If the upcoming reports show scary inflation, then the Fed can't cut rates and it will pressure gold, he added. Bullion is used as a hedge against inflation, but higher rates reduce the appeal of holding the non-yielding asset. Markets are currently seeing a 65% chance of a U.S. rate cut in September, as per CME's FedWatch Tool.

Persons: Ilya Spivak, Neel Kashkari, Spivak Organizations: University of, Minneapolis Locations: U.S, China's, China

☆ Stock market today: US stocks end mostly higher as multi-day rally pushes on
▼ + stars: | 2024-05-07 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

The recent equity rebound stalled as investor rate cut bets were made uncertain by Fed commentary. Fed President Neel Kashkari said rates might not be restrictive enough to clamp down on inflation. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementUS stocks were mostly higher Tuesday, with the S&P 500 and Dow Jones Industrial Average continuing to pull slightly higher. His remarks followed similar hawkishness from Fed President Tom Barkin on Monday, who indicated that the economy will need to slow down more before policy can pivot.

Persons: Neel Kashkari, —, Tom Barkin, Lisa Cook, Austan Goolsbee Organizations: Disney, Service, Dow Jones, Dow, Minneapolis Federal, Chicago Locations: Minneapolis, Here's

☆ Interest rates still might not be high enough to quell inflation, Minneapolis Fed president says
▼ + stars: | 2024-05-07 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +1 min

Minneapolis Fed President Neel Kashkari suggested interest rates are likely to stay put for an extended period. Resilient housing inflation shows that Fed policy may still not be restrictive enough, he said. Strong housing demand suggests the neutral rate for the housing market may have risen since the pandemic. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThere are signs that the Federal Reserve's inflation crusade may still not have restricted policy enough to bring down high prices, Minneapolis Fed President Neel Kashkari said Tuesday.

Persons: Neel Kashkari, —, Kashkari Organizations: Minneapolis, Service, Business

☆ Stock market today: Indexes extend gains as traders eye Fed speakers for rate clues
▼ + stars: | 2024-05-07 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

Markets started were revived last week as the April jobs report renewed hopes of rate cuts. Investors will tune in to Fed speakers this week for further clues about Fed policy. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Morning gains stretched the stock rally into its fourth day, a move up first sparked by Friday's jobs report. A lineup of Fed speakers this week could potentially deepen this notion or, otherwise signal that markets are turning too optimistic.

Persons: Stocks, —, David Morrison, Neel Kashkari, Lisa Cook, Austan Goolsbee Organizations: Service, Federal Reserve, Trade Nation, Fed, Minneapolis, Chicago

☆ Welcome to ‘the Tepid Twenties’? The US economy’s strength won’t be enough to boost global growth
▼ + stars: | 2024-05-05 | by ( Bryan Mena | ) edition.cnn.com time to read: +7 min

Invigorating growth is critical: When the economy expands, it improves standards of living, promotes innovation and makes households wealthier. Economic growth in Spain and France was stronger than expected last year. But the US is outperforming mainly for one key reason: Robust productivity growth. Productivity growth came in well below expectations in the first three months of the year, according to Labor Department data released last week. A “course correction” isn’t an even stronger US economy: Economic policymakers around the world need to address a range of key issues.

Persons: ” Kristalina Georgieva, ” Georgieva, ” Stephen Gallagher, Gallagher, “, ”, Hande Atay Alam, Recep Tayyip Erdogan, Israel Katz, John Williams, Neel Kashkari, Lisa Cook, Krispy Kreme, John’s, Austan Goolsbee Organizations: Washington CNN, Monetary, IMF, European Central Bank, Labor Department, Societe Generale, CNN, Reuters, Palantir Technologies, Tyson Foods, Marriott Worldwide, New York Fed, Disney, UBS, Duke Energy, Suncor, Bros, Minneapolis, Toyota, Uber, Anheuser, Busch InBev, Airbnb, Fox Corporation, News Corporation, Duolingo, Icahn Enterprises, New York Times Company, AMC Entertainment, Honda, Warner Bros Discovery, Warner Music Group, Hyatt, Hilton, Bank of England, US Labor Department, United Kingdom’s, National Statistics, University of Michigan, . Chicago Fed, China’s National Bureau of Statistics Locations: Europe, China, United States, Spain, France, Russia, Ukraine, Turkey, Israel, Gaza, Olesya, “ Turkey, Lyft, TripAdvisor

☆ Federal Reserve interest rate verdict: Central bankers meet to decide on next move
▼ + stars: | 2024-05-01 | by ( Bryan Mena | ) edition.cnn.com time to read: +5 min

Washington CNN —The Federal Reserve is expected to announce Wednesday that it is keeping interest rates at a quarter-century high for the sixth-straight meeting. Other Fed officials have already introduced the possibility of a rate hike, in addition to the chance of no rate cuts this year. Williams later said that another rate hike is possible if economic data warrants it. That combination eerily resembled stagflation, which triggered a broad stocks selloff on Wall Street Thursday. The threshold for a rate hike is ‘extremely high’Another interest rate hike is back in the conversation, but at the moment, it’s still not likely the Fed will do that.

Persons: Jerome Powell, ” Powell, Powell, John Williams, Williams, Neel Kashkari, Austan Goolsbee, “, can’t, it’s, Goldman Sachs, Wall, ” Oren Klachkin Organizations: Washington CNN, Federal, Index, New York Fed, Bloomberg, Minneapolis, Chicago Fed, Commerce Department, JPMorgan, Bank of America, Nationwide, CNN Locations: New, Chicago, Wells Fargo

☆ Treasury yields fall as investors weigh economic data, Fed comments
▼ + stars: | 2024-04-19 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

The 2-year Treasury yield was last at 4.9622% after falling by more than two basis points. U.S. Treasury yields declined on Friday as investors considered the latest economic data and remarks from Federal Reserve officials, and considered what this could mean for monetary policy. Investors digested the latest economic data and remarks from policymakers as they considered the outlook for interest rates. Fed officials have in recent days and weeks indicated that interest rates may remain elevated for longer than previously anticipated. Elsewhere, Atlanta Fed President Raphael Bostic said rate cuts may not come until the end of the year, and that he was "comfortable being patient," while Minneapolis Fed President Neel Kashkari suggested rate cuts may not begin until 2025.

Persons: John Williams, Raphael Bostic, Neel Kashkari, Jerome Powell Organizations: Treasury, U.S, Federal Reserve, New York Fed, Atlanta Fed, Minneapolis, Investors, NBC News Locations: Philadelphia, Israel

☆ Stock futures are flat as S&P 500 heads for worst week since October: Live updates
▼ + stars: | 2024-04-18 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Stock futures were little changed in overnight trading Thursday as the S&P 500 heads for its worst week in almost six months. S&P 500 futures and Nasdaq 100 futures were both flat. The S&P 500 has fallen for five sessions in a row, bringing its week-to-date losses to 2.2%. It would be the large-cap benchmark's third straight negative week and its biggest losing week since Oct. 27, 2023. The S&P 500 is now 4.8% off its 52-week high.

Persons: Neel Kashkari, who's, Michael Landsberg Organizations: New York Stock Exchange, Stock, Dow Jones, Nasdaq, Netflix, Minneapolis, Fox News, Landsberg Bennett, Wealth Management, Dow, Companies, Procter, Gamble, American Express

☆ The Fed might not be done raising interest rates just yet
▼ + stars: | 2024-04-11 | by ( Elisabeth Buchwald | Bryan Mena | ) edition.cnn.com time to read: +6 min

Inflation slowed substantially in 2023 as the Fed lifted rates to nearly a quarter-century high and held them at that level since July. Still, most Fed officials have signaled that they plan to cut rates this year if the economy evolves as expected. And if the inflation situation worsens even further, the Fed may even have to consider raising rates. Like Bowman and Kashkari, New York Fed President John Williams said rate hikes aren’t part of his baseline outlook. The timing of that first rate cut is critical because if the Fed cuts too soon, it risks locking in inflation at a high level.

Persons: hasn’t, Michelle Bowman, Neel Kashkari, Bowman, John Williams, he’s, ” Williams, Williams, Jerome Powell, Susan Collins, ” Collins, Powell, Larry Summers, ” Summers, Summers, Goldman Sachs, ” Organizations: CNN, Wall, Federal Reserve, ” Minneapolis, Kashkari , New York Fed, Boston, CPI, Bloomberg, UBS, Barclays, Bank of America Locations: Kashkari , New

☆ European markets head for negative open as investors look ahead to U.S. inflation data
▼ + stars: | 2024-04-09 | by ( Holly Ellyatt | ) www.cnbc.com time to read: 1 min

European markets are heading for a negative start Tuesday as investors look ahead to more key economic data this week, including U.S. inflation figures out Wednesday. Markets continue to see a roughly 50% chance of a cut in March, according to CME's FedWatch tool, although Minneapolis Fed President Neel Kashkari last week raised the possibility of zero rate cuts this year if inflation remains sticky. U.S. stock futures were little changed overnight, while Asia-Pacific markets were mixed overnight as investors awaited consumer confidence data from Japan.

Persons: Neel Kashkari Organizations: Minneapolis Locations: Asia, Pacific, Japan

☆ 10-year Treasury yield falls as investors await inflation data
▼ + stars: | 2024-04-09 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

ET, the yield on the 10-year Treasury was 3 basis points lower at 4.392%, easing from multi-month highs. The 2-year Treasury yield was last at 4.77% after dipping by close to 2 basis points. U.S. Treasury yields fell Tuesday as investors looked ahead to fresh inflation insights due later this week which could provide clues about the path ahead for monetary policy. Investors awaited key inflation figures as they considered the state of the economy and the outlook for interest rates. At their last meeting, central bank officials said they were expecting three rate cuts to take place this year.

Persons: Neel Kashkari, Dow Jones Organizations: Treasury, U.S, Federal Reserve, CPI Locations: Minneapolis

☆ European close markets higher on busy week for central bank action
▼ + stars: | 2024-04-08 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

The regional Stoxx 600 closed up 0.5%, with mining stocks up 2% and media stocks down 0.2%. The benchmark index dropped 1.2% last week, its worst performance since January after a run of consistent gains. European stocks closed higher Monday at the start of a busy a week of key data releases and central bank decisions. U.S. stocks also had a shaky week, though a stronger-than-expected jobs report released Friday boosted sentiment around the economy and earnings. The European Central Bank meets Thursday for its latest monetary policy decision.

Persons: Neel Kashkari Organizations: Federal, Minneapolis, European Central Bank

☆ 'They can't get it wrong again': Economists are increasingly uncertain about Fed rate cuts this year
▼ + stars: | 2024-04-08 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

All eyes will now be on Wednesday's consumer price index, after February's annual inflation rate of 3.2% came in slightly higher than expected. George Lagarias, chief economist at Mazars, told CNBC on Monday that rate cuts in the summer were now looking much less likely. "Personally, I wouldn't be surprised if we saw less rate cuts and pushed more towards the end of the year," he told "Squawk Box Europe" on Monday. Despite this, he said it remains "very likely" that there will be rate cuts this year. They do not want to be the Fed that cut rates as inflation kept beating expectations.

Persons: Neel Kashkari, George Lagarias, Lagarias Organizations: U.S . Federal, Minneapolis, CNBC

☆ Biden’s manufacturing industry is expanding, but that could be bad for inflation
▼ + stars: | 2024-04-07 | by ( Bryan Mena | ) edition.cnn.com time to read: +7 min

But a resurgence in the industry could complicate the Federal Reserve’s ongoing inflation fight, either delaying the first interest rate cut or resulting in fewer cuts this year, some economists say. Interest rates have been at a two-decade high since July, after the Fed raised rates aggressively over the prior year and a half. The economy picking up further strength would spook Wall Street because of what it means for interest rates — and some manufacturers say they’re optimistic about the future. The Bank of Canada announces its latest interest rate decision. China’s National Bureau of Statistics releases March inflation data.

Persons: Joe Biden, ”, Tom Barkin, “, Mary Daly, ” Daly, Jerome Powell, Neel Kashkari, ” Kashkari, ” Richard de Chazal, Blair, they’re “, Amazon’s, It’s, Ramishah Maruf, Amazon, haven’t, Read Organizations: Washington CNN, Institute for Supply Management, Congress, Fed, ” Richmond Fed, ” San Francisco Fed, Minneapolis, Dow, Blair Equity Research, Amazon, Fresh, Delta Air Lines, US Labor Department, Index, Bank of Canada, Federal Reserve, National Bureau of Statistics, Constellation Brands, European Central Bank, JPMorgan Chase, Citigroup, State, National Statistics, The University of Michigan Locations: Richmond , Virginia, ” San, Las Vegas, India, Wells Fargo, Progressive, BlackRock

☆ A growing chorus of experts don't think a rate cut is coming in 2024
▼ + stars: | 2024-04-06 | by ( Matthew Fox | ) www.businessinsider.com time to read: +5 min

Investors are starting to take seriously the idea that the Fed might not cut interest rates in 2024. At this point, investors are viewing economic strength as ultimately good news for the stock market, if that means a recession is delayed. AdvertisementFrom seven, to three, to now potentially zero, projected interest rate cuts in 2024 are quickly going out of style on Wall Street. So a delay in interest rate cuts, on paper, would suggest lower stock prices. And better-than-expected first quarter profits have helped put a floor on a stock market that is trading near record highs, even as talks of interest rate cuts fade.

Persons: Neel Kashkari, Kashkari, Michelle Bowman, Bowman, Ed Yardeni, Yardeni, Mohamed El, Torsten Slok, Slok, Ken Fisher Organizations: Federal Reserve, Atlanta Fed, Minneapolis Fed, Fed, Bank of America

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