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Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 28, 2023. ET, Dow e-minis were down 152 points, or 0.45%, S&P 500 e-minis were down 24.25 points, or 0.56%, and Nasdaq 100 e-minis were down 109.5 points, or 0.72%. Traditional safe-haven assets including gold and the U.S. dollar gained, while growing uncertainty pushed crude prices higher. The Nasdaq (.IXIC) and the S&P 500 (.SPX) posted weekly gains on Friday as mixed jobs reports kept investors on edge around the Federal Reserve's interest rate outlook. Tesla (TSLA.O) shed 1.7% as data showed the company's China-made EV sales volume for September decreased 10.9% from a year ago.

Persons: Brendan McDermid, Tesla, Lloyd Austin, Stuart Cole, Northrop, Lockheed Martin, Philip Jefferson, Michael Barr, Nelson Peltz's, Shashwat Chauhan, Arun Koyyur, Shounak Organizations: New York Stock Exchange, REUTERS, Nvidia, Big Tech, U.S, Israel, Dow, Nasdaq, Hamas, . Defense, Dow e, U.S ., Equiti, Energy, Chevron, Exxon Mobil, Occidental Petroleum, United Airlines, Delta Air Lines, American Airlines, Barrick Gold, Northrop Grumman, General Dynamics, Lockheed, Columbus Day, Apple, Intel, Qualcomm, Devices, JPMorgan Chase, Citigroup, BlackRock, Management, Thomson Locations: New York City, U.S, China, Israel, Palestinian, Gaza, United States, Tel Aviv, Wells Fargo, Bengaluru

☆ Fed Vice Chair Jefferson: Economy has been resilient so far
▼ + stars: | 2023-10-09 | 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 Vice Chair Jefferson: Economy has been resilient so farCNBC's Steve Liesman joins 'The Exchange' to discuss comments from Fed Vice Chair Philip Jefferson, Jefferson's remarks about upward movement in yields reflecting a shift in risk attitudes, and the Fed's focus on risk management.

Persons: Steve Liesman, Philip Jefferson, Jefferson's Organizations: Jefferson

☆ Jim Cramer explains why the Israel-Hamas war may not steer Monday's market action
▼ + stars: | 2023-10-09 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

CNBC's Jim Cramer told investors that the deadly conflict between Israel and Hamas may not be driving Monday's market action. "Let me put it this way: The market is about stocks, stocks are about companies, companies are about prospects, and there's nothing here that impacts those prospects, save the possibility of this blowing up into a war between Israel and Iran," Cramer said. Cramer wondered whether the reason could be possible investor desensitivity to Mideast conflict after Russia's invasion of Ukraine, or perhaps that investors saw no direct consequences to the U.S. economy. Jefferson said the central bank needed to "proceed carefully" when deciding whether to further hike up interest rates. "This is a situation where sadness begets more sadness, but no selling on its own," Cramer said, adding that Wall Street is currently focused on Jefferson's comments and corporate profits on the eve of earnings season.

Persons: CNBC's Jim Cramer, Cramer, desensitivity, Philip Jefferson's, Jefferson Organizations: Dow Jones, Nasdaq, Federal Reserve, Fed Locations: Israel, Iran, Ukraine, U.S

☆ Morning Bid: Oil up but restrained on Mideast jolt
▼ + stars: | 2023-10-09 | by ( ) www.reuters.com time to read: +5 min

Pump jacks operate in front of a drilling rig in an oil field in Midland, Texas U.S. August 22, 2018. U.S. crude oil prices rose about 3% higher on Monday as Israel retaliated for Saturday's shock attack by the Islamist group Hamas. With concern about a spillover over the long-running conflict to the wider stage, oil and other traditional global 'safety' plays caught a bid. What's more, any direct connection to Iran's possible involvement would scupper any easing of sanctions there and affect an estimated 3% of world oil supply. A sustained oil price rise from here could aggravate the inflation picture the Fed is negotiating - but could also drag on growth too.

Persons: Nick Oxford, Mike Dolan, Israel, What's, Friday's, Jaime Gilinski, Michael Barr, Philip Jefferson, Lorie Logan, Bank of England policymaker Catherine Mann, Bernadette Baum Organizations: Midland , Texas U.S, REUTERS, Hamas, Saudi, White, Street, Tehran, Treasury, U.S, Columbus Day, New York Stock Exchange, Nasdaq, Stock, Tel, Bank of Israel, Federal Reserve, Metro Bank, Metro, Columbus, Federal, NYSE, World Bank, IMF, Dallas Fed, Bank of England, United, Thomson, Reuters Locations: Midland , Texas, U.S, Iran, Saudi Arabia, Israel, Saudi, Russia, Tel Aviv, Europe, Marrakesh, Morocco, United States

WASHINGTON (AP) — Federal Reserve Chair Jerome Powell swore in three members of the central bank's governing board Wednesday, including Philip Jefferson as vice chair and Adriana Kugler to fill a vacant seat as the central bank's first Latina governor. As Fed governors, they will vote at the Fed's eight yearly meetings on interest rate policies as well as on changes to financial regulations. Political Cartoons View All 1157 ImagesJefferson, who first joined the board last year, was sworn in as vice chair and will therefore work closely with Powell on interest rate policy. His term as vice chair will end Sept. 7, 2027, though he can remain on the board as a governor until 2036. She was a Marshall scholar at Oxford University and holds a Ph.D. in economics from the University of California, Berkeley.

Persons: Jerome Powell, Philip Jefferson, Adriana Kugler, Joe Biden, aren't, Kugler, Lael Brainard, Obama, Jefferson, Powell, Biden, Lisa Cook, Cook Organizations: WASHINGTON, —, Latina, Georgetown University, Fed, United States ’, World Bank, Labor, Davidson College, University of Virginia, Michigan State University, Harvard University’s Kennedy School of Government, Oxford University, University of California Locations: Georgetown, United States, North Carolina, Marshall, Berkeley

Colombian-born Kugler, whose research has focused on labor markets, is the first Latina to join the Fed Board in its 109-year history. The vote was 53-45, with a few Republicans supporting a nomination that was championed by Democratic Senator Bob Menendez. The Senate on Wednesday also confirmed Fed Governor Philip Jefferson as Fed vice chair and Fed Governor Lisa Cook to a second term. Jefferson's success as vice chair will hinge on his ability to help Powell manage that process. Reporting by Ann Saphir; Editing by Paul Simao and Timothy GardnerOur Standards: The Thomson Reuters Trust Principles.

Persons: Adriana Kugler, Jonathan Ernst, Kugler, Bob Menendez, Menendez, Philip Jefferson, Lisa Cook, Cook, Jerome Powell, Powell, Michael Feroli, Jefferson, she'll, Derek Tang, Tang, Ann Saphir, Paul Simao, Timothy Gardner Organizations: Federal Reserve, of Governors, Capitol, REUTERS, U.S, Senate, Bank, Fed Board, Democratic, Wednesday, Jefferson, JPMorgan, Fed, Thomson Locations: Washington , U.S, Cuban, United States, U.S

Fed Governor Philip Jefferson testifies before a Senate Banking Committee hearing on his nomination to be the Federal Reserve's next vice chair, on Capitol Hill in Washington, U.S., June 21, 2023. REUTERS/Jonathan Ernst/File Photo Acquire Licensing RightsSept 6 (Reuters) - A broad bipartisan majority of the U.S. Senate on Wednesday voted to confirm Federal Reserve Governor Philip Jefferson as vice chair of the U.S. central bank. Senators are expected later on Wednesday to also take up the nominations of Fed Governor Lisa Cook to a new 14-year term, and of World Bank economist Adriana Kugler to fill the last open seat at the seven-member Fed Board. Jefferson and Cook joined the Fed in May 2022 and have voted for all of the Fed's rate hikes since then. Reporting by Ann Saphir; Editing by Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.

Persons: Philip Jefferson, Jonathan Ernst, Lisa Cook, Adriana Kugler, Cook, Ann Saphir, Chizu Organizations: Federal, Capitol, REUTERS, U.S . Senate, World Bank, Fed, Jefferson, Thomson Locations: Washington , U.S, U.S

[1/3] Fed Governor Philip Jefferson testifies before a Senate Banking Committee hearing on his nomination to be the Federal Reserve's next vice chair, on Capitol Hill in Washington, U.S., June 21, 2023. Senators also confirmed Fed Governor Lisa Cook to a fresh 14-year term at the central bank, though they did so in a 51-47 vote that broke along partisan lines. Both Jefferson and Cook have a PhD in economics and became Fed governors in May of 2022 after long careers in academia. The U.S. central bank's vice chair, whose term is four years, also traditionally serves as the Fed chief's go-to official on policy communications, underscoring key messages and clarifying potential misinterpretations. The confirmations of Jefferson, Cook and Kugler would make the board the most diverse in the central bank's more-than-100-year history.

Persons: Philip Jefferson, Jonathan Ernst, Lisa Cook, Cook, Jerome Powell, Powell, John Williams, Adriana Kugler, Jefferson, Kugler, Ann Saphir, Chizu Nomiyama, Andrea Ricci, Paul Simao Organizations: Federal, Capitol, REUTERS, U.S, Senate, Federal Reserve, Senators, Jefferson, New York Fed, World Bank, Fed, Latina, Thomson Locations: Washington , U.S, U.S

Federal Reserve Governor and Vice Chair-designate Philip Jefferson poses for a photograph on the sidelines of the Kansas City Federal Reserve Bank's annual Economic Policy Symposium in Jackson Hole, Wyoming, U.S., August 25, 2023. REUTERS/Ann Saphir Acquire Licensing RightsWASHINGTON, Sept 5 (Reuters) - The U.S. Senate on Tuesday voted overwhelmingly to clear the way for the confirmation this week of Federal Reserve Governor Philip Jefferson to be vice chair of the U.S. central bank. President Joe Biden has also nominated Fed Governor Lisa Cook to a new 14-year term, and picked World Bank economist Adriana Kugler to fill the last open seat of the seven-member Fed Board. The Senate will vote on Cook and Kugler’s nominations in the next few days, Senator Sherrod Brown said before Jefferson vote. Jefferson and Cook have both voted for every rate hike since they joined the Fed in May 2022.

Persons: Philip Jefferson, Ann Saphir, Jerome Powell, Joe Biden, Lisa Cook, Adriana Kugler, Cook, Sherrod Brown, Jefferson, Chuck Schumer, Richard Cowan, Leslie Adler, Lincoln Organizations: Federal, Governor, Kansas City Federal, REUTERS, Rights, U.S, Senate, Federal Reserve, Jefferson, World Bank, Fed, Committee, Thomson Locations: Kansas, Jackson Hole , Wyoming, U.S

Crude oil storage tanks are seen in an aerial photograph at the Cushing oil hub in Cushing, Oklahoma, U.S. April 21, 2020. Gasoline inventories fell by 1.7 million barrels, the API data showed, compared with estimates for a 1.3 million barrel drop. Both are indicators of robust prompt fuel demand in the U.S."The seasonal peak demand period (for transportation fuels) and supply cuts by oil producing countries have caused oil prices to rise," said CMC Markets analyst Leon Li. Oil prices may continue to rise, but they may not exceed $90 a barrel given recessionary pressures in some regions such as Europe, said Li. Furthermore, after the summer demand peak passes, "oil prices have entered the end of this round of upward trend", he said.

Persons: Leon Li, Li, Philip Jones, Arathy Somasekhar, Trixie Yap, Christian Schmollinger Organizations: REUTERS, Brent, West Texas, American Petroleum Institute, Organization of, Petroleum, Sparta Commodities, Lux, Thomson Locations: Cushing , Oklahoma, U.S, China, SINGAPORE, Saudi Arabia, Europe, Sparta, Houston, Singapore

☆ Telecoms giant BT Group appoints Allison Kirkby as CEO
▼ + stars: | 2023-07-31 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +1 min

Kirby has previously served as president and CEO of Swedish telecoms provider Telia, with experience at Virgin Media and Denmark's TDC. She has been a member of the BT Group board for the past four years. His legacy includes BT's push to build a national fibre network, offering discounted wholesale fibre pricing to major broadband providers in exchange for shifting customers to the grid. U.K. telecoms regulator Ofcom in May ruled that BT subsidiary Openreach's Equinox 2 wholesale pricing scheme was allowed. "Based on the evidence available to us, we don't consider Openreach's new pricing discounts to be anti-competitive," Ofcom said at the time.

Persons: Allison Kirkby, Philip Jansen, Kirby, Jansen Organizations: BT Group, Telia, Virgin Media, TDC, BT, Ofcom, Openreach's

☆ New BT boss’s biggest test is investor relations
▼ + stars: | 2023-07-31 | by ( ) www.reuters.com time to read: +2 min

LONDON, July 31 (Reuters Breakingviews) - BT’s (BT.L) board faced the challenge of hiring a new CEO willing to implement a turnaround strategy decided by their predecessor. It has solved that problem by appointing one of its own members, Allison Kirkby, to the post vacated by outgoing Philip Jansen. Shares in the Swedish telco sank 4% on news of her departure, suggesting Telia’s loss is a gain for BT. Kirkby won’t take over until January 2024 but, having sat on BT’s board for more than four years, she should be able to hit the road running. Keeping these two investors on her side will be the real test for Kirkby at BT.

Persons: Allison Kirkby, Philip Jansen ., Swedish telco, Kirkby won’t, Patrick Drahi’s, Jansen, Pierre Briançon, Liam Proud, Oliver Taslic Organizations: Reuters, Telia Company, BT, Kirkby, Deutsche Telekom, Twitter, Soaring, of Japan, Thomson Locations: Swedish, Kirkby

Meanwhile, the black market for smuggled subsidised Nigerian fuel in Togo and neighbouring Benin and Cameroon has collapsed, further reducing demand for shipments via Nigeria. Average monthly West African (WAF) gasoline imports fell by 56% in the second quarter compared with the first, according to Refinitiv Eikon data. "The key point is demand from West Africa is drying up," said Refinitiv Lead Oil Analyst Raj Rajendran. There may simply be a baseline decrease in demand," said Sparta Commodities gasoline market analyst Philip Jones-Lux. The challenge is coming from the new refineries in the Middle East that are expanding from their traditional East Africa market to now include West Africa and beyond even to the Americas," Rajendran said.

Persons: Bola Tinubu, Jeremy Parker, Raj, naira, Philip Jones, Jones, Lux, Rajendran, Shadia, Barbara Lewis Organizations: Nigeria's, West, ARA, Reuters Graphics, Sparta Commodities, Thomson Locations: Africa, Nigeria, North America, West Africa, Europe, United States, Asia, Ukraine, Togo, Benin, Cameroon, Amsterdam, Rotterdam, Antwerp, Sparta, Mideast, Russia, European, East Africa

☆ BT reiterates 2024 outlook on cost control and broadband demand
▼ + stars: | 2023-07-27 | by ( ) www.cnbc.com time to read: +1 min

BT Group, Britain's biggest broadband and mobile provider, reiterated its full-year outlook on Thursday as cost control and demand for broadband helped to offset inflationary pressures. The group said its adjusted core earnings rose 5% in the first quarter to 2 billion pounds ($2.6 billion), in line with analyst forecasts. Jansen said this month he would step down within the next year, a couple of years before the completion of his ambitious full-fibre roll-out. Its shares are down 30% in the last year as the cost of building out new fibre and 5G networks, and the hit to free cash flow, weighed on the business. BT said its Openreach network division was now 44% of the way through its full fibre build, with total fibre connections growing to 3.5 million.

Persons: We've, Philip Jansen, Jansen Organizations: BT

☆ ‘Futurama’ Review: Latest Go-Round Mines the Past
▼ + stars: | 2023-07-23 | by ( Mike Hale | More About Mike Hale | ) www.nytimes.com time to read: +2 min

If “Futurama” were a person, you could imagine it saying “Doh” when it returns after 10 years and “The Simpsons,” the show in whose shadow it has always resided, is still around. The new season picks up in the next moment, with both fictional time and the actual show rebooted. If you haven’t watched the show before, you won’t know what you’re missing, but you probably will be aware that you’re missing something and that this is a problem. A greater concern is that a little of the zip has gone out of the writing and the overall comic conceptualism. Episodes aimed at big, easy targets like Bitcoin and Amazon feel routine, no matter how many opportunities they provide for making connections to the show’s past.

Persons: Matt Groening, David X, Cohen, Philip J, Fry, Billy West, ”, Homer Simpson, Leela, Katey, Farnsworth, Bender, John DiMaggio, it’ll, you’re Organizations: Hulu Locations: Hulu

☆ Biden's Federal Reserve Board nominees clear key Senate committee
▼ + stars: | 2023-07-12 | by ( Christina Wilkie | In | ) www.cnbc.com time to read: +2 min

WASHINGTON — The Senate Banking Committee approved President Joe Biden's three nominees to the Federal Reserve Board of Governors on Wednesday, teeing up a vote in the full Senate later this year. The committee unanimously approved Philip Jefferson as Biden's nominee for vice chair of the Federal Reserve. Lisa Cook, who Biden has nominated for a full, 14-year term on the Federal Reserve Board, was approved 13-10 by the panel. The third nominee the committee advanced was Adriana Kugler, whom Biden tapped in May to join the Federal Reserve Board of Governors for the first time. Jefferson would be only the second Black person to hold the vice chair position in the history of the Fed board.

Persons: Philip Jefferson, WASHINGTON —, Joe Biden's, teeing, Jefferson, Lael Brainard, Lisa Cook, Biden, Cook, Adriana Kugler, Kugler, South Dakota Republican Sen, Mike Rounds Organizations: Federal, Capitol, WASHINGTON, Federal Reserve, Governors, Fed, National Economic, Federal Reserve Board, South Dakota Republican, World Bank, World Bank Group, U.S, American, Fed's, of Governors Locations: Washington , U.S

SummaryCompanies BT boss who spearheaded fibre roll-out to step downJansen simplified former monopoly, retreated from sportsShares nearly halved under his tenureLONDON, July 10 (Reuters) - BT (BT.L) Chief Executive Philip Jansen will step down within the next year, having set plans in motion for Britain's biggest telecoms provider to cut jobs, become leaner and complete the roll-out of a national fibre network. Jansen had informed BT's board of directors that he plans to leave at "an appropriate moment" within the next 12 months, BT said on Monday. Since early 2019, Jansen has steered BT through a crucial period in its 177-year-history, secured funding for a national fibre network for 25 million homes and businesses and handled the arrival of billionaire investor Patrick Drahi on the shareholder register. "We suspect investors will find this transition a little premature given the fruits of BT's fibre investments have still yet to be proven out," analysts at J.P.Morgan wrote in a client note. Analysts named BT's consumer brands boss Marc Allera and Allison Kirkby, a BT board member and chief executive of Sweden's Telia, as possible successors.

Persons: Jansen, Philip Jansen, BT's, Patrick Drahi, J.P.Morgan, Adam Crozier, Marc Allera, Allison Kirkby, Sweden's, Sarah Young, Kate Holton, Sharon Singleton Organizations: BT, Britain's, Discovery, Deutsche Telekom, Ofcom, Thomson Locations: France, United States, Portugal, Israel

☆ BT CEO Jansen plans to step down over the next 12 months
▼ + stars: | 2023-07-10 | by ( ) www.reuters.com time to read: +1 min

LONDON, July 10 (Reuters) - Britain's BT (BT.L) said on Monday it had started the hunt for a new chief executive after Philip Jansen told the board he planned to step down at "an appropriate moment" within the next year. He also recently set out his longer-term vision for BT, saying it could cut potentially over 40% of its workforce once it has completed the fibre rollout and adapted to new technologies such as artificial intelligence. "This is creating a much stronger BT Group which is starting to drive growth for both investors and the UK." Jansen, a former boss of Worldpay, took over at the top of BT in February 2019. "The succession process to replace Philip is something that the board was well prepared for," Chairman Adam Crozier said.

Persons: Philip Jansen, Jansen, Patrick Drahi, " Jansen, Worldpay, Philip, Adam Crozier, Sarah Young, Kate Holton, Sachin Ravikumar Organizations: BT, Thomson

☆ Fed nominees stress importance of inflation, job mandates in Senate hearing
▼ + stars: | 2023-06-21 | by ( Michael S. Derby | ) www.reuters.com time to read: +4 min

Since joining the Fed last year, Cook said she's worked with her colleagues to combat high inflation and if she is confirmed for more time at the Fed, Cook said that's how she will continue to work. Cook attended the hearing with Philip Jefferson, a Fed governor nominated to become vice chair, and Adriana Kugler, the U.S. executive director to the World Bank who has been nominated to fill a governor slot. Kugler is prospectively the first-ever Latina to serve on the Fed in its just over a century long history. "I spent my childhood in Colombia, where in the late 1970s and early 80s inflation was very high, hovering about 25%. The three nominees did not offer any guidance about what they think the Fed should do with monetary policy beyond affirming the importance of bringing inflation back to the 2% target.

Persons: Philip Jefferson, Lisa Cook, Adriana Kugler, Read, Cook, she's, Vance, Kugler, Jefferson, Tim Scott, Michael S, Andrea Ricci Organizations: Federal, Federal Reserve, Capitol, U.S, Banking Committee, Fed, World Bank, Republican, South Carolina Republican, Thomson Locations: Washington , U.S, Ohio, Colombia

[1/2] The U.S. Capitol dome is seen from the Russell Senate Office Building on Capitol Hill in Washington, U.S., April 19, 2023. Despite the consensus on lowering inflation, the Fed is also reaching a point where opinions about the need for and timing of additional interest rate increases may start to diverge. In large part that job has fallen to the Fed, but it is a central bank of Biden's making. If the current crop of nominees is approved five of seven board members would be Biden appointees. The Fed under Powell has raised interest rates faster than at any time since former Fed Chair Paul Volcker's inflation fights of the 1970s and 1980s.

Persons: Sarah Silbiger WASHINGTON, Jerome Powell, haven't, Democrat Joe Biden, Donald Trump, Philip Jefferson, Lisa Cook, Adriana Kugler, Powell, Biden, Preston Mui, Mui, Paul, Howard Schneider, Jason Lange, Dan Burns, Andrea Ricci Organizations: U.S, Russell Senate, REUTERS, . Federal, Democrat, Republican, Federal, of Governors, World Bank, Fed, Financial, America, Reuters, Biden, Trump, Black Americans, Thomson Locations: Russell, Washington , U.S, U.S, Biden's

☆ Morning Bid: Powell patter, UK shock, FedEx warning
▼ + stars: | 2023-06-21 | by ( ) www.reuters.com time to read: +4 min

A look at the day ahead in U.S. and global markets from Mike DolanThe Fed chair has a tricky message to communicate. Powell's colleagues on Tuesday stressed again they would stay the course until inflation is back to its 2% target. UK inflation defied expectations of a slowdown and held at 8.7% in May, while 'core' inflation jumped above 7% for the first time since 1992. In corporate news, FedEx FDX.N shares dropped almost 3% overnight after a profit warning. Events to watch for later on Wednesday:* Federal Reserve Chair Jerome Powell testifies to House Financial Affairs Committee.

Persons: Mike Dolan, Jerome Powell's, rationalises, Powell's, Treasuries, BoE, Sterling recoiled, Rivian, Jerome Powell, Adrian Kugler, Philip Jefferson's, Lisa Cook, Austan Goolsbee, Loretta Mester, Christina Fincher Organizations: Federal Reserve, National Association of Home Builders, Bank of, FedEx FDX.N, Rivals Rivian, European, Financial, Fed Board, Chicago Fed, Cleveland Fed, Treasury, Reuters Graphics Reuters, Reuters, Thomson Locations: U.S, Wells Fargo, Britain, Bank of England, China

Inflation has "started to abate" but the Fed will remain focused on returning it to the 2% target, Fed governor and vice chair nominee Philip Jefferson said in testimony prepared for his confirmation hearing on Wednesday before the Senate Banking Committee. "The economy faces multiple challenges, including inflation, banking-sector stress, and geopolitical instability. "Inflation has started to abate, and I remain focused on returning it to our 2% target." As a group, Fed policymakers last week signaled two more interest-rate hikes are likely by the end of the year. The Senate Banking committee on Tuesday also released prepared remarks from Fed Board nominee Adriana Kugler, who said returning inflation to the central bank's 2% target is key to setting a strong foundation for the U.S. economy.

Persons: Philip Jefferson, Jefferson, Lisa Cook, ” Cook, Cook, Adriana Kugler, " Kugler, Kugler, Bob Menendez, Menendez, Howard Schneider, Michael S, Dan Burns, Ann Saphir, Matthew Lewis Organizations: Reserve, Committee, Federal, World Bank, Fed, of Governors, Senate, Derby, Thomson Locations: Washington, U.S, New York, Berkeley , California

☆ Wall Street prepares for more gains this month after past week's breakout
▼ + stars: | 2023-06-16 | by ( Scott Schnipper | ) www.cnbc.com time to read: +6 min

For now, it's not a brighter economic picture or an exuberant earnings outlook pushing stocks higher. Another reason that some investors have come back to stocks is simply because the S & P 500 ended the week more than 23% above last October's low. "The next level of resistance is above 4,500 on the S & P. Historically, the market gains 14.5% on average between the 20% threshold level and the next decline of 5% or more. "Inflation peaked in June of last year and has been rapidly declining over the past 12 months. Trading the week after is often treacherous, Hirsch said, with the Dow Jones Industrials falling in 27 of the past 33 years and the S & P 500 down in 23 of 33 years.

Persons: it's, Sam Stovall, Clinton, Wells Fargo, Chris Harvey, Harvey, Jay Hatfield, Price, CarMax, Stovall, Jeffrey Hirsch, Hirsch, Dow Jones Industrials, York Fed's John Williams, Jerome Powell, Philip Jefferson, Lisa Cook, Adriana Kugler, Avid Bioservices, Patterson Cos, Christopher Waller, Michael Bloom, Fred Imbert, Alex Harring Organizations: Fed, CFRA, Microsoft, Infrastructure Capital Management, Consumer, PPI, FedEx, Darden, Dow, Housing, Financial, Enerpac, Avid, Banking, Accenture, Commercial Metals, P, PMI Locations: New York, York, Dublin

Barnaby Webber and Grace Kumar, both 19-year-old students at the University of Nottingham, and Ian Coates, 65, a school janitor, were fatally stabbed. Coates was later found dead from knife injuries on Magdala Road by a member of the public, police said. Police responded to a "major incident" in Nottingham city center early Tuesday morning. “Barnaby Philip John Webber was a beautiful, brilliant, bright young man, with everything in life to look forward to,” his family said. “At 19 he was just at the start of his journey into adulthood and was developing into a wonderful young man,” the family added.

Persons: Barnaby Webber, Grace Kumar, Ian Coates, van, tasered, Coates, “, Kate Meynell, Meynell, Lynn Haggitt, ” Haggitt, ” “ I’ve, ”, Darren Staples, Shearer West, Webber, Kumar, ” Webber, “ Barnaby Philip John Webber, Webbs ’, Handout, AP Kumar, “ Grace, Grace, Kumar’s, “ Ian, ” Ross Middleton, Diana Owen, Ian, David Mellen, Jacob King, Constable Meynell, ” Meynell Organizations: CNN, Nottingham, University of Nottingham, Nottinghamshire Police, Police, BBC, Getty, University of Nottingham’s, Bishops Hull Cricket Club, AP, England, England Hockey, Southgate Hockey Club, Southgate Hockey Club Coates, . Academy Trust, Huntingdon Academy, L.E.A.D . Academy Trust, St, Lawn Tennis Association, Nottingham City Locations: Ilkeston, Milton, Nottingham, AFP, Taunton, England, Huntingdon, St Peter’s, Rothesay, “, Peter's

☆ Fed holds off on rate hike, but says two more are coming later this year
▼ + stars: | 2023-06-14 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

related investing news Easing inflation pressures give the Fed room to skip a rate hike. "We have raised our policy interest rate by five percentage points, and we've continued to reduce our security holdings at a brisk pace. The decision left the Fed's key borrowing rate in a target range of 5%-5.25%. The dots moved decidedly upward, pushing the median expectation to a funds rate of 5.6% by the end of 2023. "Given the strong labor market, the Fed has room to crush inflation and they don't want to miss their chance."

Persons: we've, Jerome Powell, Powell, Philip Jefferson, David Russell Organizations: Federal Reserve, Federal, Fed, CPI, PPI Locations: WASHINGTON

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