DIRS.INFO The most relevant business & tech news

See more mortgage rates on Zillow Real Estate on ZillowWhat Are Today's Mortgage Refinance Rates? See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. Current 30-Year Mortgage RatesAverage 30-year mortgage rates are hovering around 6.30%, according to Zillow data. Current 15-Year Mortgage RatesAverage 15-year mortgage rates are in the mid 5% range, according to Zillow data. But now that inflation has decelerated and the Fed has started cutting rates, mortgage rates have trended down.

Persons: Freddie Mac, it's, Fannie Mae Organizations: of Labor Statistics, Federal Reserve, Zillow, Fed, Mortgage, Association, ARM, . Government Locations: U.S, Chevron, Government

☆ Wells Fargo CEO calls consumers 'extremely resilient'
▼ + stars: | 2024-10-15 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Wells Fargo CEO Charlie Scharf gave CNBC's Jim Cramer a positive read on the consumer landscape. "We don't sit here and say risks don't exist — But what we see looks pretty, pretty strong." Wells Fargo's most recent quarter topped Wall Street's expectations, and shares surged more than 4% last Friday just after the report. By Tuesday's close, Wells Fargo was up 1.40%. While Scharf said Wells Fargo does care about its quarterly results, he suggested the market can obsess over reports more than management does.

Persons: Wells, Charlie Scharf, Jim Cramer, Scharf, Tuesday's, Wells Fargo, I'm Organizations: Federal Reserve Locations: Wells

☆ UBS sees S&P 500 soaring to 6,400 by the end of 2025
▼ + stars: | 2024-10-15 | by ( Fred Imbert | ) www.cnbc.com time to read: +2 min

Strategist Jonathan Golub raised his 2025 S & P 500 target to 6,400 from 6,000 in a note to clients released Tuesday. "UBS economists forecast 3.7% nominal GDP in 2025 (1.6% real), roughly in line with long-term averages," he said. Golub also noted that a "sharp decline in Fed Funds will likely increase profit margins by 20 [basis points] via lower interest expense." The Fed lowered its benchmark fed funds rates a half a point, to a range of 4.75% to 5.0%, in September. Bottom line: Stocks could consolidate to end 2024 before scaling new heights in the new year, based on UBS' outlook.

Persons: Jonathan Golub, Golub, Stocks, Golub doesn't, Goldman Sachs Organizations: UBS, Federal Reserve, Fed Locations: Monday's

☆ Gold prices flat as investors await fresh impetus
▼ + stars: | 2024-10-15 | by ( ) www.cnbc.com time to read: +2 min

Gold was flat on Tuesday as investors await fresh insights on the Federal Reserve's stance on U.S. interest rate reductions for further direction on bullion prices. Gold was flat on Tuesday as investors await fresh insights on the Federal Reserve's stance on U.S. interest rate reductions for further direction on bullion prices. "Gold prices have been surprisingly resilient, refusing to succumb to a stronger U.S. dollar and higher Treasury yields," IG market strategist Yeap Jun Rong said. Fed Governor Christopher Waller called for "more caution" on interest rate cuts ahead. While, Fed Bank of Minneapolis President Neel Kashkari said more rate reductions likely lie ahead for the U.S. central bank as the 2% inflation target looms into sight.

Persons: Yeap Jun Rong, Christopher Waller, Neel Kashkari Organizations: Fed, Fed Bank of Minneapolis, U.S, London Locations: China

☆ CNBC Daily Open: The economy and inflation might stay strong
▼ + stars: | 2024-10-15 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +3 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Data on employment, inflation and economic growth have signaled that the "economy may not be slowing as much as desired," Waller said. A soft landing is the scenario in which inflation drops to the Fed's 2% target while economic growth and employment remain healthy. A "no landing," on the other hand, is when the economy continues expanding as inflation remains high.

Persons: Jefferies, Kelly Ortberg, Christopher Waller, Waller, Fed Governor Waller, Henry Allen, Ohsung Kwon, BofA, Kwon, –, Jeff Cox, Sarah Min, Lisa Kailai Han, Yun Li Organizations: Shoppers, Miami Design District, CNBC, Grand View Research, Boeing, P Global, U.S . Federal, Fed, Deutsche Bank, Bank of America Securities Locations: Miami , Florida, U.S

☆ Wall Street’s been on a two-year tear. Can the party last?
▼ + stars: | 2024-10-15 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +3 min

New York CNN —Wall Street traders are popping champagne and toasting the two-year anniversary of a period of outsized gains known as a bull market. What makes this bull market unusual is how much uncertainty and economic worry investors have had to contend with during its run. Historically, bull markets recover around 194% of the previous downturn, according to Sam Stovall, chief investment strategist at CFRA. While the first two years of a bull market often see significant gains, history shows that the third year can bring challenges, said Stovall. On average, bull markets entering their third year post a modest return of just 2%.

Persons: Stocks, Sam Stovall, Adam Turnquist, Quincy Krosby, “, Stovall Organizations: New, New York CNN, Wall, LPL, LPL Financial, Federal Locations: New York, Europe, East

You can check your first bag free on Delta flights, saving up to $70 on a round-trip Delta flight per person. The exceptions are flights to South America, as well as transatlantic and transpacific flights, which allow a carry-on bag. Spirit AirlinesFees for checked and carry-on baggageSpirit charges varying fees for checked bags and carry-on bags. Opt for a carry-on bag whenever possible, as most airlines allow at least one free carry-on bag. Oversized bags: Fees for oversized bags depend on the bag's dimensions.

Persons: aren't, Doesn't, stow, Miles, it's, Harlan Vaughn Harlan Vaughn, he’s, Harlan, Read Organizations: Business Insider, Citi, Mastercard, JetBlue, Alaska Airlines, U.S . Airlines, American Airlines, U.S, U.S ., Airlines, Delta Airlines, United, New Zealand, Delta, Express Card, U.S . Supermarkets, PayPal, United Airlines, United ®, United Club, ℠, FDIC, Southwest Airlines, Southwest ®, Rapid, Southwest, Rapid Rewards, JetBlue Plus, Card, Alaska, Spirit Airlines, Chase, American Express, Frontier Airlines, Frontier, American, Citi ® Locations: Puerto Rico, U.S, U.S . Virgin, Canada, Caribbean, Mexico, Central America, Guyana, Cuba, North America, South America, China, Japan, South Korea, Hong Kong, India, New Zealand, Europe, Israel, Qatar, Australia, Suriname, Panama, San Pedro Sula, Honduras, San Salvador, El, North, South, North Africa, South Africa, Emirates, New, Brazil, East, Africa, Asia, Central, delta.com, Delta, California , Idaho , Oregon, Washington, Dallas , Texas

☆ Citi's regulatory nightmare still haunts CEO Jane Fraser
▼ + stars: | 2024-10-15 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +4 min

Citi CEO Jane Fraser denied the prospect of an asset cap after being pressed by two analysts. CFO Mark Mason said Citi is reevaluating its budget and strategy to fix regulatory problems quicker. AdvertisementCiti topped Wall Street expectations this quarter, but CEO Jane Fraser was dogged by questions regarding the bank's regulatory fate. Fraser was asked three times for reassurances that Citi did not and would not have an asset cap before answering the question. "We do not have an asset cap and there are no additional measures other than what was announced in July in place and not expecting any."

Persons: Sen, Elizabeth Warren, Jane Fraser, Mark Mason, —, Fraser, Vivek Juneja, Warren's, Anand Selva, Wells, Mike Mayo —, I'm, Mayo, Mason, Tim Ryan Organizations: Citi, Service, OCC, Federal Reserve Locations: Selva

☆ CNBC Daily Open: Economic growth and inflation might remain strong
▼ + stars: | 2024-10-15 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Nvidia's numbers aren't a hallucinationNvidia shares rose 2.4% to close at $138.07, a new record for the stock. Data on employment, inflation and economic growth have signaled that the "economy may not be slowing as much as desired," Waller said. [PRO] Small cap strategyMarket wisdom has it that the performance of small-cap stocks will outstrip that of big-cap stocks.

Persons: Dow, it's, Christopher Waller, Waller, Kelly Ortberg, Russell, Bob Pisani Organizations: CNBC, Dow Jones, Dow, Nasdaq, European Central Bank, Nvidia, U.S . Federal, Boeing, P Global

☆ Fed Governor Waller says 'more caution' needed on rate cuts after data showing a hot economy
▼ + stars: | 2024-10-15 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +3 min

Fed Governor Christopher Waller says recent data shows the Fed should ease more cautiously. The Fed cut rates by a50-basis points last month and is expected to make a smaller cut next month. AdvertisementWaller said recent data, though, shows an economy that's still hot. He pointed to recent data on employment, inflation, income and gross domestic product. Waller said he will be watching closely for any further data that shows the Fed should ease less aggressively.

Persons: Christopher Waller, Waller, —, Waller's Organizations: Service, Stanford University, Fed

☆ Treasury yields inch higher after Columbus Day holiday
▼ + stars: | 2024-10-15 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

The 2-year Treasury yield was last at 3.9560%, rising over one basis point. U.S. Treasury yields were slightly higher on Tuesday as bond markets reopened after the Columbus Day holiday. Investors were assessing the outlook for the economy as they considered the latest comments from Federal Reserve officials and looked to economic data due throughout the week. Investors are also looking ahead to upcoming economic data releases, including fresh insights from the manufacturing sector on Tuesday, as well as the latest consumer inflation expectations report. In Europe, the next interest rate decision from the European Central Bank is due on Thursday.

Persons: Neel Kashkari, Christopher Waller Organizations: Treasury, Columbus, Federal Reserve, Minneapolis, European Central Bank, ECB Locations: U.S, Europe

☆ Dollar at over two-month high, yen near 150 per dollar
▼ + stars: | 2024-10-15 | by ( ) www.cnbc.com time to read: +3 min

The U.S. dollar was perched at an over two-month high against major currencies on Tuesday, spurred by wagers the Federal Reserve will proceed with modest rate cuts in the near term, while the yen inched closer to the key 150 per dollar level. The U.S. dollar was perched at an over two-month high against major currencies on Tuesday, spurred by wagers the Federal Reserve will proceed with modest rate cuts in the near term, while the yen inched closer to the key 150 per dollar level. The U.S. central bank kicked off its easing cycle with an aggressive 50 basis points at its last policy meeting in September. The dollar got a lift after Fed Governor Christopher Waller on Monday called for "more caution" on interest rate cuts ahead, citing recent economic data. That has cast doubts over when Japan's central bank will next tighten policy.

Persons: Christopher Waller, Waller, Chris Weston, Kazuo Ueda, Shigeru Ishiba, Tony Sycamore Organizations: U.S, Reserve, European Central Bank, Fed, Traders, Boeing, Bank of Japan, New Zealand, Caixin Global, Treasury, IG, China National, Congress Locations: U.S, Japan, China

☆ Bank of America tops estimates on better-than-expected trading revenue
▼ + stars: | 2024-10-15 | by ( Hugh Son | ) www.cnbc.com time to read: +1 min

Bank of America topped analyst estimates for third-quarter profit and revenue on better-than-expected trading results. Here's what the company reported:Earnings: 81 cents vs. 77 cents LSEG estimateRevenue: $25.49 billion vs. $25.3 billion estimateThe bank said Tuesday that net income fell 12% from a year earlier to $6.9 billion, or 81 cents a share. Revenue rose less than 1% to $25.49 billion as a rise in trading revenue and asset management and investment banking fees offset a decline in net interest income. That's a key question after the lender signaled in July that a rebound in net interest income was coming in the second half of this year. Bank of America has seen its haul from net interest income get compressed as the Federal Reserve boosted rates over the past two years.

Persons: Wells, Goldman Sachs, Morgan Stanley Organizations: of America, Bank of America, Federal Reserve, JPMorgan Chase, Citigroup Locations: Wells Fargo

☆ American consumers are increasingly underwater on their car loans
▼ + stars: | 2024-10-15 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

DETROIT — A growing number of Americans with auto loans owe more than their vehicles are worth, according to a report Tuesday from Edmunds.com. Upside-down car loans aren't necessarily dire on their own, but a growing number of consumers being underwater is another indication of pressure on American consumers. Edmunds reports more than one in five consumers with negative equity owe more than $10,000 on their auto loans. That includes 22% of vehicle owners with negative equity who owed $10,000 or more, while 7.5% have negative equity of more than $15,000. Consumers can counter upside-down car loans by holding onto the vehicles for longer periods.

Persons: Jessica Caldwell, Edmunds, Ivan Drury Organizations: CDK, DETROIT, Federal Reserve Locations: Chicago , Illinois, United States, Canada, Edmunds.com, Edmunds

☆ Small-cap stocks are showing signs of life
▼ + stars: | 2024-10-15 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

Small-cap stocks are starting to show signs of life lately. While the IWM has delivered 12% this year, that is far below the S & P 500 gain of almost 23%. IWM YTD mountain IWM Many investors are uncertain how long the latest trend can continue. The Russell 2000 ETF is higher by 1.6% in October against 1.2% for the S & P 500, but over the past three months, the S & P 500 has outperformed, 3.6% to 3.3%. "We think Fed rate cuts have a strong ability to create a favorable backdrop for small-cap stocks," Michael Graham, analyst at Canaccord Genuity, wrote Tuesday.

Persons: Russell, What's, Brian Belski, Michael Graham, Genuity, Graham Organizations: Federal Reserve, BMO Capital Markets

☆ Don't own the AI chip leaders? Jim Cramer says this might be your chance to act
▼ + stars: | 2024-10-15 | by ( Paulina Likos | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. "This is a very cheap stock versus Nvidia" Jim Cramer said. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Stocks, Jim, Johnson, Goldman Sachs, Jim Cramer's Organizations: CNBC, Nvidia, Devices, Bloomberg, AMD, Texas, Coterra Energy, Analysts, YouTube, Federal, Dow, Johnson, Bank of America, Walgreens Locations: Persian, Israel, U.S

☆ Interest on cash is tumbling, but these funds might be the next best way to earn some income
▼ + stars: | 2024-10-15 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +4 min

The Federal Reserve is about a month into its rate-cutting cycle, and money market fund yields are already starting to pay less. That's where short and ultra-short duration bond funds and ETFs may come into play. An eye on duration Duration is a measure of a bond's price sensitivity when interest rates fluctuate. In that case, ultra-short bond funds and short-term bond funds might be "a natural landing spot for that cash." Those ultra-short bond funds have one to three years of duration and offer some stability day to day, Bartolini added.

Persons: Brett Sheely, Matthew Bartolini, Bartolini, AllianceBernstein's Sheely, —, Vincent Caintic Organizations: Federal, Investment Company Institute, State Street Global Advisors, SPDR, SPDR Americas Research, Bond, SEC, Federal Deposit Insurance Corp, . Locations: SPDR Americas

☆ Parents of slain Hamas captive push for deal, warning remaining hostages won't 'make it much longer'
▼ + stars: | 2024-10-14 | by ( Erin Mclaughlin | Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Alex-Smith-Circle-Byline-Template.Jpg | ) www.nbcnews.com time to read: +8 min

“He was kept in a tunnel that was 60 feet underground, with no electricity and no plumbing,” Rachel Goldberg-Polin said. “We knew he was held captive, in a war zone by a terror organization, with one arm missing,” Jon Polin said. “They don’t show up at your door at 4 o’clock in the morning with good news,” Jon Polin said. “Hamas committed a horrific massacre inside of Israel,” Jon Polin said. Jon Polin is worried about becoming “mired in a forever war.”The region has “been on this trajectory for decades, truly for centuries,” Rachel Goldberg-Polin added.

Persons: JERUSALEM, Hersh Goldberg, Polin, Goldberg, Jon Polin, Rachel Goldberg, ”, “, ” Goldberg, Benjamin Netanyahu, admonishing, Israel’s, ” Rachel Goldberg, Aner Shapiro, Polin’s, ” Jon Polin, Carmel Gat, Eden Yerushalmi, Alexander Lobanov, Almog Sarusi, Ori Danino, “ It’s, Hersh, Netanyahu, Joe Biden, ‘, ’, Martin Luther King’s, ” Erin McLaughlin, Alexander Smith Organizations: NBC News, Seven, Palestinian enclave’s Health Ministry Locations: Gaza, Jerusalem, Israel, It’s, Lebanon, Iran, Berkeley , California, London

The S&P 500 and the Dow Jones Industrial Average rose to fresh records Monday as investors awaited the next batch of key corporate earnings. The broad market index climbed 0.77% to 5,859.85, while the 30-stock Dow advanced 201.36 points to 43,065.22. Both averages hit all-time highs and closed at records, with the Dow ending the session above the 43,000 mark for the first time. The early signs of a recovery in banking profits helped push the broader market to all-time highs at the end of last week. The S&P 500 closed above 5,800 for the first time on Friday, while the blue-chip Dow also reached an all-time high.

Persons: Goldman Sachs, Johnson, Morgan Stanley, Wells Fargo, Dow, Bernstein, ”, Baird, Ross Mayfield Organizations: Dow Jones, Dow, Nasdaq, UnitedHealth, Apple, Technology, Bank of America, Johnson, United Airlines, Walgreens Boots Alliance, Netflix, Procter, Gamble, JPMorgan Chase, Federal, Treasury, Columbus Day

☆ Dolphins QB Tua Tagovailoa expected to return in 2024, coach Mike McDaniel says
▼ + stars: | 2024-10-14 | by ( Rohan Nadkarni | Rohan Nadkarni Is A Sports Reporter For Nbc News. | ) www.nbcnews.com time to read: +1 min

Miami Dolphins head coach Mike McDaniel expects quarterback Tua Tagovailoa to play again this season, he said Monday. Tagovailoa has not played since suffering a concussion against the Buffalo Bills on Sept. 12. Tagovailoa must also clear the NFL’s concussion protocol before he is eligible to play, a process that begins only after he’s activated from IR. The concussion Tagovailoa sustained against the Bills is at least the third of his professional career. Tagovailoa was also suspected of having a third concussion that season, a controversy that led to an overhaul of the NFL’s concussion protocol.

Persons: Mike McDaniel, Tua Tagovailoa, Tagovailoa, “, ” McDaniel Organizations: Miami Dolphins, Buffalo Bills, Dolphins, Arizona Cardinals, Bills, NFL, Miami, Indianapolis Colts Locations: Miami, Arizona

☆ Fed Governor Waller sees need for 'more caution' ahead when lowering interest rates
▼ + stars: | 2024-10-14 | 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: +2 min

Federal Reserve Governor Christopher Waller on Monday signaled that future interest rate cuts will be less aggressive than the big move in September as he expressed concern that the economy could still be running at a hotter-than-desired pace. The Federal Open Market Committee at its September meeting took the unusual step of lowering its baseline interest rate by a half percentage point, or 50 basis points, to a target range of 4.75%-5.0%. Along with the cut, officials indicated the likelihood of another half point lopped off in the final two meetings of 2024, along with another full percentage point of cuts in 2025. In the final revision for second-quarter growth, the Commerce Department also punched up the level of gross domestic income gain to 3.4%, an adjustment of 2.1 percentage points from the previous estimate and closer in line with GDP. “These revisions suggest that the economy is much stronger than previously thought, with little indication of a major slowdown in economic activity,” Waller said.

Persons: Christopher Waller, ” Waller, Waller, ” Organizations: Federal, Stanford University, The, Fed, Commerce Department

☆ Nobel economics prize goes to global inequality researchers
▼ + stars: | 2024-10-14 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms | ) www.nbcnews.com time to read: +3 min

Three U.S.-based academics won the 2024 Nobel economics prize on Monday for their research into why global inequality persists, especially in countries dogged by corruption and dictatorship. The laureates have demonstrated the importance of societal institutions for achieving this,” said Jakob Svensson, Chair of the Committee for the Prize in Economic Sciences. Last year, Harvard economic historian Claudia Goldin won the prize for her work highlighting the causes of wage and labour market inequality between men and women. In 2019, economists Abhijit Banerjee, Esther Duflo and Michael Kremer won the award for work on fighting poverty. The economics prize has been dominated by U.S. academics since its inception, while U.S.-based researchers also tend to account for a large portion of winners in the scientific fields for which 2024 laureates were announced last week.

Persons: Simon Johnson, James Robinson, Daron Acemoglu, ”, Jakob Svensson, Alfred Nobel, Acemoglu, ” Acemoglu, Johnson, Robinson, Milton Friedman, John Nash —, Russell Crowe, Ben Bernanke, Claudia Goldin, Abhijit Banerjee, Esther Duflo, Michael Kremer, Victor Ambros, Gary Ruvkun, Japan’s Nihon Organizations: Royal Swedish Academy of Sciences, Economic Sciences, Bank, Sveriges, Massachusetts Institute of Technology, University of Chicago, Technology, Federal, Research, Harvard, U.S Locations: U.S, Hiroshima, Nagasaki

☆ Middle-class new homeowners are increasingly cost-burdened
▼ + stars: | 2024-10-14 | by ( Jasmine Cui | Jasmine Cui Is A Reporter For Nbc News. | ) www.nbcnews.com time to read: +4 min

“It used to be that if you made the median income, you could afford the median-priced house,” said Domonic Purviance, a housing expert at the Atlanta Federal Reserve. Their mortgage rate was 8.125% — above the roughly 7% national average at the time, which was hovering near 20-year highs. While that ratio is less than the cost-burdened 30% threshold, it has doubled in the area in just the last three years. From 2013 to 2023, the median annual household income in the U.S. has risen 50%, to $80,610. For example, McCue said, cost-burdened homeowners may struggle to keep up with home maintenance, leading to unhealthy or unsafe living environments.

Persons: ”, Domonic Purviance, “ That’s, Haley, Ben Williams, “, ” Ben, they’d, Daniel McCue, haven’t, It’s, McCue, “ You’re, Haley Williams, “ I’ve Organizations: Atlanta Federal Reserve, Homes, NBC, Harvard University’s, for Housing Studies, Atlanta Fed, Federal Reserve Locations: Elkhart , Indiana, Elkhart, Chicago, U.S

☆ Dow futures are little changed after index closes above 43,000 for the first time: Live updates
▼ + stars: | 2024-10-14 | by ( Alex Harring | ) www.cnbc.com time to read: +1 min

Dow Jones Industrial Average futures are near flat Monday night after the blue-chip index closed at a record. S&P 500 futures and Nasdaq 100 futures also both traded near their flatlines. Those moves come after a winning day on Wall Street that propelled the S&P 500 and Dow to new intraday highs and record closes. Information technology stocks led the S&P 500 higher in the session, with the sector finishing nearly 1.4% higher. Beyond banks, United Airlines , Walgreens Boots Alliance and Johnson & Johnson are also on the docket.

Persons: Scott Chronert, Goldman Sachs, Johnson, Mary Daly, Raphael Bostic, Adriana Kugler Organizations: New York Stock Exchange, Dow Jones Industrial, Nasdaq, Dow, Nvidia, Citigroup, Bank of America, United Airlines, Walgreens Boots Alliance, Johnson, San Francisco Federal, Atlanta Fed Locations: New York City, Citi's, United

☆ Gold dips on firmer dollar; attention on Fed cues
▼ + stars: | 2024-10-14 | by ( ) www.cnbc.com time to read: +2 min

Gold prices eased on Monday, weighed down by a firmer U.S. dollar, while investors looked out for fresh clues on Federal Reserve interest rate cuts. Spot gold fell 0.2% to $2,651.99 per ounce by 0252 GMT after rising 1% in the previous session. The dollar index rose 0.1% on Monday, not far from a near two-month high hit last week. Traders see a roughly 89% chance of the Fed cutting rates by 25 basis points at its November meeting, and an 11% chance it will leave rates unchanged. Meanwhile, investors will watch out for comments from Fed officials this week for more hints on upcoming rate cuts, along with U.S. retail sales data.

Persons: Tim Waterer, Waterer Organizations: KCM Trade, Traders Locations: China

Search resuls for: "Reserve"

25 mentions found