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☆ Safe-haven gold firms on U.S. recession fears, rate-cut bets
▼ + stars: | 2024-08-05 | by ( ) www.cnbc.com time to read: +2 min

Two Argor-Heraeus SA 250 gram gold bars at Solar Capital Gold Zrt. Gold prices drifted higher on Monday, aided by worries that the United States could be headed for a recession and rising bets that the Federal Reserve will likely need to start cutting interest rates aggressively. Spot gold rose 0.14% to $2,446.83 per ounce, as of 0519 GMT, after falling 1% earlier in the session. "Gold is picking up safe-haven flows, with financial markets in a risk-averse mindset to start the week," said Tim Waterer, chief market analyst at KCM Trade. Share markets tumbled and bonds rallied in Asia as U.S. recession fears sent investors rushing from risk assets.

Persons: Tim Waterer, Thomas Barkin Organizations: Heraeus, Solar, Federal Reserve, KCM, Richmond Fed, P Global, Pentagon Locations: Budapest, Hungary, United States, Asia, U.S, Iran

☆ ISM Services PMI beats expectations with 51.4 reading
▼ + stars: | 2024-08-05 | 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 EmailISM Services PMI beats expectations with 51.4 readingCNBC's Rick Santelli reports on the latest economic data to cross the tape.

Persons: Rick Santelli Organizations: PMI

☆ Treasury yields tumble as recession concerns take hold
▼ + stars: | 2024-08-05 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

ET, the yield on the 10-year Treasury was down by over eight basis points to 3.7099%. The 2-year Treasury yield was last at 3.7315% after falling by around 14 basis points. U.S. Treasurys slid on Monday as fears about a recession grew after a series of key economic data was released last week. The data suggested an easing of the labor market, which prompted concerns about a recession. That came after the Fed earlier in the week left interest rates unchanged and hinted at a September rate cut.

Persons: Treasurys, July's nonfarm, Dow Jones Organizations: Treasury, Dow, Fed, PMI

Hong Kong/London CNN —Japanese stocks on Monday suffered their biggest daily loss since 1987 as fears about a US economic slowdown sent shock waves through global markets. The Nikkei 225 index of leading stocks in Tokyo lost a staggering 4,451 points, its biggest point drop in history. On the more common, percentage measure, the index closed more than 12% down — according to Reuters, its largest one-day fall since October 1987. He was referring to “Black Monday” in October 1987, when global markets plunged and the Nikkei lost 3,836 points. The Nikkei closed down 5.8% Friday, as traders fretted about the impact of a stronger yen on Japanese companies.

Persons: ” Neil Newman, ”, Stephen Innes, Newman, Mohit Kumar, Taiwan’s Taiex, Kospi, Innes, Tom Kloza, Bitcoin Organizations: London CNN, Reuters, Advisory, CNN, Nikkei, Federal Reserve, Bank of Japan, Management, Trading, Nasdaq, Dow, Jefferies, Traders, greenback, PMI, Intel, Brent, Oil Price Information Service Locations: Hong Kong, London, Tokyo, Japan, South Korea, “, Asia, Europe, South, Shanghai, China, United States

☆ Here are 4 things we're watching closely in the stock market this week
▼ + stars: | 2024-08-04 | by ( Zev Fima | ) www.cnbc.com time to read: +9 min

Stocks had a rough week, topped off with a pummeling Friday after the July jobs data came in weaker than expected. Until then, bad economic news was good news for the stock market, because it meant the Federal Reserve would start cutting interest rates sooner. On Thursday, a drop in U.S. manufacturing activity for July and a jump in initial jobless claims dragged down the market. Next week is light on economic data, so expect earnings reports and CEO commentaries to drive the market action. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Stocks, Dow Jones, Jim Cramer, would've, Eli Lilly, Mounjaro, Berkshire Hathaway, Krystal, Tyson, BAX, Owens, Walt, Oscar Health, CRON, Krispy, Papa, Jim Cramer's, Jim Organizations: Nasdaq, Dow, Reserve, Broadcom, Devices, Palo Alto, PMI, Wynn Resorts, Investors, Wynn, Wynn Palace, U.S . Disney, Management, and Drug Administration, Carlyle Group, Krystal Biotech, Tyson Foods, TSN, Alpha Metallurgical Resources, BioCryst Pharmaceuticals, Axsome Therapeutics, Technologies, Clover Health, Realty Income Corp, Avis Budget Group, CSX Corp, CSX, Simon Property Group, Sterling Construction Company, Teradata Corp, Yum China Holdings, ZoomInfo Technologies, Holdings, Caterpillar, Baxter International, Vulcan Materials Company, Allegheny Technologies Incorporated, Constellation Energy Group, Marathon Petroleum Corp, Owens Corning Inc, Duke Energy Corp, GXO Logistics, Brands, Builders, Wynn Resorts Ltd, WYNN, Rivian Automotive, Devon Energy Corp, GigaCloud Technology Inc, Lumen Technologies, VF Corp, Walt Disney Co, Novo Nordisk, CVS Health, Aurora Cannabis Inc, Emerson Electric Co, Sony Group Corporation, SONY, Inc, ODP Corporation, Icahn Enterprises, MannKind Corp, ACM Research, Brink's Company, AppLovin Corporation, Digital Turbine, Sarepta Therapeutics, Occidental Petroleum Corp, Bros, SolarEdge Technologies, Aspen, Coeur D'Alene Mines Corp, Co, Vistra Energy, Cheniere Energy, Cronos, Himax Technologies, Properties Trust, Papa John's, Paramount Global, Trade, Lab, B2Gold Corp, Honest Company, Gilead Sciences, Growth, Nikola Corporation, Embraer, New Fortress Energy, Construction, Jim Cramer's Charitable, CNBC, Disney, Pixar Locations: Palo, Macau, Las Vegas, Boston, Vegas, Wynn Macau, China, Novo, Coeur, Gilead

☆ Dow futures slide nearly 200 points after Nasdaq falls into a correction: Live updates
▼ + stars: | 2024-08-04 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

Traders work on the floor of the New York Stock Exchange during afternoon trading on August 02, 2024 in New York City. U.S. stock futures fell Sunday night following a volatile week for Wall Street, in which the Nasdaq Composite dropped into correction territory. S&P 500 futures and Nasdaq-100 futures dipped 0.7% and 1.1%, respectively. On Friday, the Nasdaq capped a third straight week of losses, bringing the tech-heavy index down more than 10% from a record set last month. The S&P 500 also posted a third straight losing week, down 2% for the week.

Persons: Dow, Keith Lerner, CNBC's, It's, Warren Buffett's Berkshire Hathaway, Mary Daly Organizations: New York Stock Exchange, Wall, Nasdaq, Dow Jones Industrial, Dow Jones, Treasury, Federal Reserve, PMI, San Francisco Fed Locations: New York City . U.S, Hawaii

☆ Wall Street will look for signs of what's next for the market after a rocky start to August
▼ + stars: | 2024-08-02 | by ( Sarah Min | ) www.cnbc.com time to read: +5 min

The S & P 500 ended the week down by 2%. As of Friday, the Nasdaq Composite was more than 10% below its recent high, while the S & P 500 was down by 5.7%. Markets were last pricing in a 71% chance of a half percentage point rate cut in September, up from 22% on Thursday, according to the CME FedWatch Tool . Brands , Fidelity National Information Services , Uber Technologies , Marathon Petroleum , Caterpillar Wednesday Aug. 7 3 p.m. Consumer Credit (June) Earnings: Costco Wholesale , Warner Bros. Discovery , Occidental Petroleum , Ralph Lauren , CVS Health , Hilton Worldwide Holdings , Walt Disney Company Thursday Aug. 8 8:30 a.m.

Persons: Stocks, payrolls, Bill Hornbarger, Benjamin F, Edwards, Russell, Claudia Sahm, selloff, Michael Kantrowitz, Piper Sandler, Kantrowitz, Jan Hatzius, Goldman Sachs, Hatzius, CNBC's, Eli Lilly, Ralph Lauren, Martin Marietta Organizations: Nasdaq, Treasury, Investors, Federal Reserve, Walt Disney Company, Caterpillar, Costco, Micro Computer, PMI, PMI Services, Services PMI, Simon Property Group, Diamondback Energy, Tyson Foods, Devon Energy, Airbnb, Wynn Resorts, TransDigm, Brands, Fidelity National Information Services, Uber Technologies, Marathon Petroleum, Consumer Credit, Costco Wholesale, Warner Bros, Discovery, Occidental Petroleum, CVS Health, Hilton Worldwide Holdings, Gilead Sciences, Akamai Technologies, News Corp, Paramount Global, Expedia, Martin, Martin Marietta Materials Locations: Fortinet, Devon

☆ Japan's Nikkei jumps 2% to lead gains in Asia as traders assess U.S. inflation data, await BOJ meeting
▼ + stars: | 2024-07-29 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Asia-Pacific markets climbed on Monday, with Japan's Nikkei 225 leading gains in the region after a key U.S. inflation report late last Friday raised hopes for an interest rate cut. The Nikkei rose 2.02%, while the broad-based Topix was up 1.52%. In Asia, the highlight for this week will be the Bank of Japan's monetary policy meeting starting July 30. A Reuters poll of economists expects the central bank to raise rates by 10 basis points to 0.1%. Other key inflation data from the region include China's July PMI data, while Australia will release its latest set of inflation data before the central bank's Aug. 6 monetary policy meeting.

Persons: Topix, Dow Jones Organizations: Mount Fuji, Japan's Nikkei, Nikkei, Bank, ING Locations: Asia, Pacific, U.S, Australia

☆ Apple and Microsoft are among the 'Magnificent Seven' stocks set to report next week. Here's what that means
▼ + stars: | 2024-07-26 | by ( Sarah Min | ) www.cnbc.com time to read: +7 min

On Friday, the tech-heavy S & P 500 and Nasdaq Composite ended the week with losses, down 0.8% and 2.1%, respectively. However, the bulk of Magnificent Seven results is set for release in the week ahead. As it is, all seven of the Magnificent Seven companies closed out the week with losses. FOMC meeting, July jobs report Elsewhere, investors will also be reviewing the latest Federal Reserve interest rate decision set for release on Wednesday. Traders will also get insight into the labor market next week, with the release of the July jobs report on Friday.

Persons: Russell, Ryan Grabinski, John Belton, Tesla, Belton, FactSet, Stanley Black, Decker, Lam, Kraft Heinz, Ingersoll Rand Organizations: Nasdaq, Dow Jones Industrial, Microsoft, Facebook, Apple, Nvidia, 2H, 3Q, Gabelli, Traders, Dallas Fed, Semiconductor, Nation Entertainment, Electronic Arts, Starbucks, Match Group, Caesars Entertainment, Corning, Howmet Aerospace, Procter, Gamble, Pfizer, Merck, Co, PayPal, ADP, Civilian Workers, Chicago PMI, MGM Resorts International, Allstate, Lam Research, eBay, Qualcomm, Western, Cruise Line Holdings, Hess, Boeing, Mobile, Marriott International, GE Healthcare Technologies, Generac Holdings, Mastercard, Labor, PMI, Manufacturing, Intel, Holdings, Motorola Solutions, Technology, Air Products, Chemicals, Jobs, Exxon Mobil, Chevron Locations: Chicago, Albemarle, Kellanova, Hershey, Moderna

☆ 2-year Treasury yield dips as investors look to key inflation data
▼ + stars: | 2024-07-26 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

ET, the yield on the 10-year Treasury was up by less than one basis point at 4.2563%. The 2-year Treasury yield was last at 4.4307% after falling by over one basis point. U.S. Treasury yields were little changed on Friday as investors awaited the release of key inflation data ahead of the Federal Reserve's upcoming monetary policy meeting next week. Those are some of the last key economic data releases before the Fed meets next week to discuss monetary policy. The inflation figures come after economic data throughout the week have given mixed signals about the state of the economy.

Persons: Dow Jones Organizations: Treasury, Federal, PCE, Fed, U.S, PMI

☆ Yen rises as carry trades unwind, risk sentiment takes a hit
▼ + stars: | 2024-07-25 | by ( ) www.cnbc.com time to read: +2 min

The yen drew support from unwinding carry trades on Thursday ahead of next week's Bank of Japan (BOJ) policy meeting and as a rotation out of megacap growth stocks dampened risk appetite broadly and provided some safe haven bids. "It's also the fact that risk sentiment is deteriorating, and that's helped (the yen) as well... You've got unwind in the tech trade, you've got unwind in the carry yen trade...you've got the Nikkei, as well, unwinding." Japanese Finance Minister Shunichi Suzuki and top currency diplomat Masato Kanda both refrained from commenting on the yen's recent sharp rise. The New Zealand dollar similarly fell 0.24% to $0.5915.

Persons: Tony Sycamore, It's, that's, You've, you've, Shunichi Suzuki, Masato Kanda, Sterling Organizations: week's Bank of Japan, New, Reuters, IG, Nikkei, Japanese Finance, PMI, Traders, Federal, Australian, New Zealand Locations: New Zealand, U.S, Down

☆ Treasury yields fall ahead of key economic data
▼ + stars: | 2024-07-25 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

ET, the yield on the 10-year Treasury was down by over five basis points to 4.2349%. The 2-year Treasury yield was last more than five basis points lower to 4.3585%. U.S. Treasury yields declined on Thursday as investors awaited key economic data points that could inform Federal Reserve monetary policy. Investors awaited key data as they considered the state of the U.S. economy and the outlook for interest rates. The data will provide more hints about the state of the economy and comes ahead of key inflation figures due Friday in form of the personal consumption expenditures price index.

Organizations: Treasury, U.S, PMI Locations: U.S

☆ Asia markets open lower as traders assess Aussie business activity data, U.S. tech earnings
▼ + stars: | 2024-07-24 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Asia-Pacific markets fell on Wednesday as traders assessed July business activity data from Australia, tech earnings from the U.S. and awaited Japan PMI readings. Late Tuesday, automaker Toyota said it will buyback 806.85 billion yen ($5.17 billion) of its shares from major Japanese banks and insurers, including Tokio Marine , Mitsubishi UFJ Financial Group and Sumitomo Mitsui Financial Group . Heavyweight Samsung Electronics plunged 1.8%, even as Reuters reported that chip giant Nvidia had cleared its chips for use in a processor for the China market. The South Korean electronics company is still grappling with a strike from its largest workers union, with talks on Tuesday yielding no results, according to the National Samsung Electronics Union, which has about 30,000 members. Hong Kong Hang Seng index futures were at 17,474, just marginally higher than the HSI's last close of 17,469.36.

Persons: Topix, Australia's Organizations: Sydney Opera House, Japan PMI, Nikkei, PMI, Toyota, Tokio Marine, Mitsubishi UFJ Financial Group, Sumitomo Mitsui Financial Group, Samsung Electronics, Reuters, Nvidia, National Samsung Electronics Union, Juno Bank . Hong Locations: Asia, Pacific, Australia, U.S, Japan, China, Korean, Juno Bank . Hong Kong

☆ How down payment assistance programs can help clear the path to homeownership
▼ + stars: | 2024-07-23 | by ( Genna Contino | ) www.cnbc.com time to read: +3 min

Two renters pose in front of their new home that they're renting from Roots, a program that helps renters invest in real estate. Then Hunnicutt found a $1,050-per-month two-bedroom apartment tied to Roots, a real estate investment trust based in the Atlanta area that aims to help renters of the properties in its portfolio build wealth toward homeownership. Will Hunnicutt with his dog Bailey in his Atlanta home that he rented through Roots, a company that helps renters build wealth by investing in real estate. As buyers continue to struggle with home affordability, experts say programs that help with down payments may be worth another look. One barrier toward homeownership is having enough savings for a down payment.

Persons: Katie Curran, Will Hunnicutt, Hunnicutt, Bailey, It's, They're, homebuyer Organizations: CNBC, SurveyMonkey, National Association of Realtors, PMI, Mortgage Locations: Atlanta, U.S

Before saving for a down payment, calculate how much you'll need and set a deadline. Exploring down payment assistance programsDown payment assistance programs can help cover part or all of your down payment. Saving windfalls and bonusesWindfalls — or sudden influxes of cash — are a great way to pad your down payment savings. Not having a clear savings planDepositing a few bucks here and there isn't going to make much of an impact on your down payment savings. Yes, high-yield savings accounts, CDs, and investment accounts can be excellent tools for saving your down payment, especially if you have a longer time horizon.

Persons: You'll, you'll, windfalls, Windfalls Organizations: Netflix, Spotify, Federal Deposit Insurance Corp, PMI Locations: homebuyers, Chevron

☆ These 2 key metrics will signal whether small, unloved stocks will continue to beat the market, BofA says
▼ + stars: | 2024-07-22 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

The firm is looking at specific levels for the 10-year Treasury yield and manufacturing PMI. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. New research from Bank of America outlined two specific criteria that could serve as signals the rally will continue. AdvertisementMeanwhile, manufacturing PMI fell to 48.5 in June. "The Manufacturing economy is in the second longest downturn in history with 21 months without two straight months of 50+ PMI.

Persons: —, SPW, Russell, Tom Lee Organizations: of America, PMI, Service, Bank of America, Treasury, 6.3ppt, Bank of America Global Research, Federal Reserve, Barclays Locations: outperformance

In America's 20 biggest cities, a 20% down payment ranges from $39,127 in Oklahoma City to $263,392 in San Jose, California. On a $200,000 home, a 3% down payment means you'll need $6,000. FHA mortgage: 3.5%To get an FHA mortgage, you'll need at least a 3.5% down payment. The exact amount you'll pay depends on your down payment and whether you've gotten a VA loan previously. PMI protects lenders on mortgages with high loan-to-value ratios, and it's added to the borrower's monthly mortgage payment.

Persons: you'll, Insider's, Fannie Mae, Freddie Mac, you've, You'll, it's Organizations: Phoenix, Fort, Oklahoma, PMI, Opportunity, National Association of Realtors, Chevron, USDA Locations: Oklahoma City, San Jose , California, Government, York City, NY, Angeles, LA, Chicago, Houston, AZ, Philadelphia, Antonio, Diego, Dallas, Austin, Jacksonville, Jose, Fort Worth , TX, Columbus, Charlotte, NC, Indianapolis, Francisco, Seattle, WA, Denver, homeownership, Chevron

Here are the best mortgage lenders for first-time homebuyers and the affordable loans they offer, as chosen by Business Insider editors in 2024. If you're a Bank of America Preferred Rewards customer, you can get discountsCheck mark icon A check mark. Offers many unique types of mortgagesCheck mark icon A check mark. Low Cost Mortgages come with only $295 in closing costsCheck mark icon A check mark. Mortgage credit certificatesSome HFAs also offer mortgage credit certificates to first-time homebuyers.

Persons: It's, Chase, Grant, You'll, Carrington, Carrington doesn't, forbearance, HELOC, homebuyers, Truist, doesn't, Flagstar, they're, homeownership, Fannie Mae, Freddie Mac's, you'll, Anthony Park, Molly Grace, Julie Aragon, There's, Lauryn Williams, —, there's, PenFed, USAA, Wells, Wells Fargo, Ally Organizations: Homebuyers Bank of America Mortgage, Mortgage, Chase, Federal Credit Union Mortgage, New, U.S, Bank Mortgage, Federal Savings, Loan, Truist, Flagstar Bank, Business, Bank of America, of America, FHA, Bank, Bank of, Bank of America's, Miami . Bank of America, USDA, Guild Mortgage, Veterans, Navy, Credit, Federal, Navy Federal, Navy Federal Credit Union, Department of Defense, Student Loan, . Bank, US Bank, U.S . Bank, Carrington Mortgage, Carrington Mortgage Services, Consumer Financial Protection, DC, Private Mortgage Insurance, PMI, Down Payments, Quicken, Rocket Mortgage, Rocket, CrossCountry Mortgage, CrossCountry, Loans, Flagstar Bank Mortgage, Federal Housing Finance Agency, Federal Housing Administration, US Department of Housing, Urban, US Department of Veterans Affairs, US Department of Agriculture, Best, Chevron, CFP, Pentagon Federal Credit Union, BBB, Fairway Independent Mortgage Corporation, Veterans United, Movement Mortgage, NBKC, PNC Bank, Better Business Bureau Locations: VA, HELOC, Washington, DC, Charlotte, Dallas, Detroit, Los Angeles, Miami, Delaware, Vermont, Delaware , Vermont, Wyoming, J.D, New York, ., U.S, Massachusetts, North Dakota, Ohio, Florida, California , Colorado , Connecticut, Georgia , Illinois , Indiana , Kentucky, Maryland , Massachusetts , Missouri , New Hampshire , New Jersey , New York, North Carolina , Ohio , Oregon , Pennsylvania, South Carolina , Tennessee, Virginia, Tennessee, Arizona , Alaska, Hawaii, Arizona , California, Florida , Indiana , Michigan , New Jersey , New York , Ohio, Wisconsin, Flagstar, Arizona , California , Connecticut , Idaho , Michigan, Nevada , Ohio, New Mexico, Chevron, Wells Fargo

☆ Earnings plus key reports on economic growth and inflation put the consumer in focus next week
▼ + stars: | 2024-07-19 | by ( Sarah Min | ) www.cnbc.com time to read: +7 min

The consumer will be in focus next week as investors head into the thick of earnings season and await some major macroeconomic reports. So far, just 14% of S & P 500 companies have reported earnings results. As one strategist noted, Wall Street is about to get insight into the economy from more than half the broad market index. The thick of earnings Earnings season is off to a strong start. Credit card company Visa will be reporting next week after American Express' results this week suggested inflationary pressures have reached the higher-end consumer.

Persons: Russell, We're, Terry Sandven, Sherwin, Williams, Charles Ashley, Read, Ashley, We've, It's, Lockheed Martin, Kimberly, Clark, General, Philip Morris, Lamb Weston, Northrop, Rowe Price Organizations: Federal, Nvidia, U.S, Bank Asset Management, Nasdaq, Dow Jones, Whirlpool, Catalyst Funds, Visa, American Express, Google, Commerce, FactSet, Fed, Chicago, Verizon, Richmond Fed, Enphase Energy, Capital, Texas, Williams, Comcast, General Motors, United Parcel Service, Philip Morris International, GE Aerospace, PMI, O'Reilly, Grill, Business Machines, Vegas Sands, Ford Motor, Technology, NextEra Energy, GE, . Kansas City Fed Manufacturing, American Airlines, CBRE, Valero Energy, Hasbro, Tractor Supply, Northrop Grumman, Southwest Airlines, Honeywell International, Norfolk Southern, Rowe Price Group, Myers Squibb, Colgate, Palmolive Locations: —, Freeport, McMoRan, Vegas, . Kansas, Michigan, Bristol

☆ Here are 3 major reports that could drive the stock market in the week ahead
▼ + stars: | 2024-07-06 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

Three of the four big money center banks report this coming Friday, including Club name Wells Fargo . Economic data : The June consumer price index (CPI) is out on Thursday morning, and the June producer price index (PPI) is out on Friday morning. Earnings season : Within the portfolio, net interest income (NII) guidance is going to be a key watch item when Wells Fargo reports its quarter this coming Friday. However, other factors like muted loan demand have prevented Wells Fargo from raising its outlook this year. Wells Fargo – and our other bank name Morgan Stanely – both passed, indicating they have strong capital positions with excess money to return to shareholders.

Persons: May's, You'll, Wells, Michael Santomassimo, Morgan Stanley, We're, Wells Fargo, Morgan Stanely –, JPMorgan Chase, Jim Cramer's, Jim Cramer, Jim, Beata Zawrzel Organizations: Dow Jones Industrial, Nasdaq, Apple, Broadcom, Club, Meta, Energy, Constellation Brands, Corona, Modelo, Federal Reserve, Manufacturing, PMI, Fed, Wells, PPI, CPI, PepsiCo, Delta Air Lines, DAL, Conagra Brands, JPMorgan, Citigroup, Jim Cramer's Charitable, CNBC, U.S, New York Stock Exchange, Nurphoto, Getty Locations: Wells Fargo, FactSet, Wells, Wells Fargo –, New York, United States, America

☆ Stock market today: Indexes test record highs as dovish jobs report sends bond yields lower
▼ + stars: | 2024-07-05 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

US stocks tested record highs on Friday after the June jobs report sent bond yields tumbling. The US economy added 206,000 jobs in June, but the unemployment rate ticked higher to 4.1%. The higher unemployment rate raised hopes for imminent interest rate cuts from the Federal Reserve. AdvertisementUS stocks tested record highs on Friday after the June jobs report sent bond yields lower. The April jobs report was also revised lower to 108,000 jobs added that month, down from the initial reading of 165,000.

Persons: —, Quincy Krosby, Krosby, Brent, Bitcoin Organizations: Federal Reserve, Service, Federal, Treasury, Manufacturing, PMI Locations: Texas

☆ Yen drops to 38-year low, U.S. dollar slumps after weak data
▼ + stars: | 2024-07-04 | by ( ) www.cnbc.com time to read: +5 min

A report indicating that the U.S. services sector contracted last month and factory orders fell also weighed on the dollar. The dollar was last up 0.1% at 161.64, after earlier falling to a session low below 161 following weak U.S. data. The yen also hit an all-time low of 174.48 against the euro . The euro rose to a three-week high against the dollar, and was last up 0.3% at $1.0781. Further pressuring the dollar was a weak U.S. services report from the Institute for Supply Management.

Persons: Sterling, Helen, —, Shunichi Suzuki, Jonas Goltermann, nonfarm Organizations: U.S ., Federal Reserve, European Central Bank, Bank of Japan, Monex USA, U.S, Finance, ADP, Reuters, Capital Economics, Institute for Supply Management, PMI, Fed Locations: United States, Washington ., U.S

☆ Stock futures are little changed after S&P 500 closes above 5,500 level: Live updates
▼ + stars: | 2024-07-02 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

Traders work on the floor at the New York Stock Exchange on June 24, 2024. During Tuesday's main trading session, the broad market index rose 0.62% to close above 5,500 for the first time. U.S. stock futures traded near the flatline Wednesday morning after the S&P 500 closed above 5,500 for the first time. As the S&P 500 continues to climb, concern is growing across Wall Street that the narrow leadership of the rally is not sustainable for much longer. The New York Stock Exchange closes early at 1 p.m.

Persons: Jerome Powell, Scott Chronert, Chronert Organizations: New York Stock Exchange, Nasdaq, Dow, Paramount Global, Wall Street, The New York Times, Skydance Media, Federal Reserve, Citi Research, P Global U.S, Services, ISM, The New York Stock Exchange, Independence Locations: U.S

☆ China's economic situation is 'still mixed,' UOB says
▼ + stars: | 2024-07-01 | 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 EmailChina's economic situation is 'still mixed,' UOB saysTeck Kin Suan, head of research at UOB, discusses China's official purchasing managers' index data released over the weekend and compares it with the Caixin manufacturing PMI.

Persons: UOB, Suan

☆ China PMI: No end in sight for uneven economic story
▼ + stars: | 2024-07-01 | by ( Laura He | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —Factory activity among China’s private firms expanded at the fastest pace in three years, a private gauge showed Monday, suggesting healthier domestic and international demand for Chinese goods. The Caixin manufacturing Purchasing Managers’ Index (PMI) rose to 51.8 in June, up from 51.7 in May, according to a statement from S&P Global, which compiled the survey. The Caixin survey covers more export-oriented and consumer-related companies. The official PMI, however, is tilted more towards manufacturers that produce industrial materials — including steel, cement, and chemical — making them more vulnerable to a slowdown in fixed-asset investments. Analysts believe that the current data reflects an economic reality characterised by strong exports and consumption, but softer investment.

Persons: Goldman Sachs, ”, Wang Zhe, ” Wang Organizations: Hong Kong CNN — Factory, P, National Bureau of Statistics, PMI, Caixin Insight, European Union, EU Locations: Hong Kong, Siyang County, Suqian City, Jiangsu, China, European, United States

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