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☆ 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

☆ Stock market today: S&P 500 hits another record close as rally presses on amid earnings
▼ + stars: | 2024-10-14 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

US stocks hit record highs on Monday as investors get ready for a wave of earnings reports. Over 80 S&P 500 companies, including Netflix and Goldman Sachs, report earnings this week. Monday's close marked the S&P 500's 46th record close of the year, as investors continue to power the two-year-old bull market higher. More than 80 S&P 500 companies are scheduled to report third-quarter earnings results this week, with major names like Netflix, Goldman Sachs, and Morgan Stanley on deck. According to data from Fundstrat, 6% of S&P 500 companies have already reported their results.

Persons: Goldman Sachs, Fed Governor Waller, —, Monday's, Morgan Stanley, Adriana Kugler, Christopher Waller, Waller Organizations: Netflix, Fed, Service, Dow Jones, Dow, Federal, Stanford University's Hoover Institution Locations: Fundstrat, Here's

☆ What happened Friday hasn't happened in ages. It bodes well for earnings
▼ + stars: | 2024-10-13 | by ( Jim Cramer | ) www.cnbc.com time to read: +9 min

Getting ready for the "two problematic stories," Wells Fargo and JPMorgan , which came later in the morning, took some real digging. ET – Wells Fargo shares turned and started inching up. With what you saw in Wells Fargo and JP Morgan on Friday. Think like this: When the psychology of the market changes, people don't want to bang out of Wells Fargo, they want to get in. But there is no doubt that Wells Fargo at 11 times forward earnings now seems a little silly given that the background is so positive.

Persons: Larry Fink, Wells, Wells Fargo, Charlie Scharf, Jamie Dimon, Jeff Marks, JP Morgan, Scharf, It's, Warren Buffett, Morgan Stanley, Eli Lilly, haven't, Jim Cramer's, Jim Cramer, Jim, Squawk, Virginia Sherwood Organizations: BlackRock, JPMorgan, Wall, Club, Wells Fargo, Elon, SpaceX, Federal, New York Stock Exchange, Fed, Bank of America, Boston, Walmart, Costco, Semiconductors, Enterprise, JFrog, Microsoft, –, Dow, Jim Cramer's Charitable, CNBC Locations: Wells Fargo, NII, U.S

☆ Don't let September's jobs report fool you — the labor market is still deteriorating at a worrying rate, economists warn
▼ + stars: | 2024-10-13 | by ( William Edwards | ) www.businessinsider.com time to read: +5 min

Small businesses also face tight credit conditions and are slowing hiring. AdvertisementThe September payrolls report seemed to switch the investor narrative around the labor market on a dime. Given the usual lags involved between changes in rates and activity, things will probably get worse for small businesses before they get better." "The labor market is not out of the woods just yet, and I continue to see another hiccup in the jobs market before year-end," Dutta wrote. AdvertisementStill, it's unclear how much pressure the labor market will come under in the months ahead.

Persons: —, bearish David Rosenberg, Rosenberg, Merrill Lynch, Samuel Tombs, Tombs, Neil Dutta, Dutta Organizations: Service, Fed, September's, Rosenberg Research, Pantheon, Macro Research, The Conference Board

The S&P 500 and Dow Jones Industrial Average powered to new highs on Friday and capped off a winning week as banking behemoths ushered in a promising start to the third-quarter earnings season. The broad index gained 0.6% to end at 5,815.03, while the Dow rallied 409.74 points, or nearly 1%, to finish at 42,863.86. The S&P and Nasdaq jumped 1.1% each, while the Dow toted a 1.2% gain. A strong start to the third-quarter earnings season provided a lift to stocks. That included a cooler-than-expected September producer price index reading after the consumer price index increased slightly more than expected.

Persons: —, ”, Craig Sterling, JPMorgan Chase, Wells, Kim Forrest, Forrest, Stocks, Goldman Sachs, David Russell, “ Organizations: Dow Jones Industrial, Dow, Nasdaq, JPMorgan, Bokeh Capital Partners, “, Federal, Federal Reserve

☆ CNBC Daily Open: CPI’s higher than expected. Is it just a “janky” data point?
▼ + stars: | 2024-10-11 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

SeongJoon Cho | Bloomberg | Getty ImagesThis 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. "I am totally comfortable with skipping [rate cuts for] a meeting if the data suggests that's appropriate," Bostic told The Wall Street Journal in an interview Thursday. The data suggests so. "This choppiness to me is along the lines of maybe we should take a pause in November," said Bostic, a voting member of the Federal Open Market Committee.

Persons: SeongJoon Cho, Raphael Bostic, Bostic, Joseph Brusuelas, Jeff Cox, Samantha Subin, Hakyung Kim Organizations: AMD, Bloomberg, Getty, CNBC, Atlanta Federal Reserve, Wall Street, Federal, Market, RSM Locations: Pike, Seattle , Washington, US

☆ Inflation reports from this week should allow the Fed to stay on track with rate cuts
▼ + stars: | 2024-10-11 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +1 min

Investors who fear stubborn inflation, if not an outright rebound, got a bit of a salve on Friday morning. Wholesale prices showed no change month over month for September, coming in below expectations. The producer price index report may help offset some of the slight concerns about Thursday's consumer price index report, which was a bit hotter than expected. The personal consumption expenditures price index for September will be released on Oct. 31. "We think the Fed is really still on track to cut 25 [basis points] at each of the next two meetings," Seif added.

Persons: David Seif, Seif, Wells Organizations: Nomura Securities, Fed, PPI, Traders, JPMorgan Chase, BNY Mellon Locations: Wells Fargo

☆ CNBC Daily Open: Is higher-than-expected CPI just a 'janky' data point?
▼ + stars: | 2024-10-11 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

Justin Sullivan | Getty Images News | Getty ImagesThis 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. "I am totally comfortable with skipping [rate cuts for] a meeting if the data suggests that's appropriate," Bostic told The Wall Street Journal in an interview Thursday. The data suggests so. But Bostic acknowledged it's important to see whether individual data points cohere into a larger pattern, or if they're just "janky," as Bostic put it.

Persons: Justin Sullivan, Raphael Bostic, Bostic, Joseph Brusuelas, Jeff Cox, Samantha Subin, Hakyung Kim Organizations: Getty, CNBC, Atlanta Federal Reserve, Wall Street, Federal, Market, RSM Locations: San Rafael , California

☆ Dollar bulls suffer setback as traders add to Fed cut bets
▼ + stars: | 2024-10-11 | by ( ) www.cnbc.com time to read: +3 min

The U.S. dollar fell from two-month highs hit overnight versus its major peers after signs of weakness in the labor market boosted the case for quicker Federal Reserve rate cuts. Bets for a quarter-point Fed rate cut on Nov. 7 increased to 83.3% from 80.3% a day earlier, with the remaining odds for policy to stay steady, according to the CME Group's FedWatch Tool. A week earlier, there was a 32.1% chance of a half-point reduction and 67.9% probability of a quarter-point cut. The dollar added 0.06% to 148.68 yen , inching back towards Thursday's high of 149.58 yen, a level previously not seen since Aug. 2. The Australian dollar held firm at $0.67395 after rebounding from its lowest since Sept. 16 at $0.6702 on Thursday.

Persons: Tapas Strickland, Austan Goolsbee, Raphael Bostic Organizations: U.S, Treasury, National Australia Bank, Fed, Chicago Fed, Atlanta Fed Locations: China

☆ Gold drifts higher after data supports U.S. rate-cut bets
▼ + stars: | 2024-10-11 | by ( ) www.cnbc.com time to read: +2 min

Gold prices climbed on Friday after recent data supported bets for a Federal Reserve interest rate cut next month, while market participants awaited the U.S. Producer Price Index report for further direction. Spot gold rose 0.5% to $2,641.70 per ounce by 0245 GMT but was down about 0.4% for the week. Data on Thursday showed that U.S. consumer prices rose slightly more than expected in September, while jobless claims increased to 258,000 in the week ended Oct. 5, versus estimates of 230,000. "Gold is seeing short-term gains as recent data has been positive. If the PPI data comes in softer, gold's momentum could continue upward," said Kelvin Wong, OANDA's senior market analyst for Asia Pacific.

Persons: Price, Kelvin Wong, OANDA's, CME's Organizations: Federal, PPI, Asia Locations: Tokyo, Japan, CME's FedWatch, Beirut

☆ Why investors shouldn’t sweat this inflation report
▼ + stars: | 2024-10-10 | by ( Fred Imbert | ) www.cnbc.com time to read: +2 min

The latest inflation report came in slightly hotter than expected, knocking stock prices lower. But the odds of a quarter-point Fed rate cut in November actually rose after the report came out. "CPI Inflation data was slightly on the hotter side, with commodity prices (outside) energy rising more than expected. The good news is that shelter inflation is pulling back and that's going to pull inflation lower. Investors received fresh labor market data Thursday as well, with initial jobless claims jumping by 33,000 to 258,000.

Persons: Dow Jones, Sonu Varghese, Goldman Sachs, Whitney Watson, Ian Lyngen, Stephen Tusa Organizations: CPI, Reserve, Carson, Investors, BMO Capital Markets, JPMorgan, Honeywell

☆ Stock futures are flat as traders await another inflation reading, big bank earnings: Live updates
▼ + stars: | 2024-10-10 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Traders work on the floor of the New York Stock Exchange (NYSE) during morning trading on January 11, 2024 in New York City. Stock futures were little changed on Thursday evening, as investors looked ahead to a wholesale inflation reading and quarterly results from major banks. Futures tied to the S&P 500 inched higher by 0.08%, while Nasdaq 100 futures hovered just below the flatline. September's consumer price index rose 0.2% on a monthly basis and 2.4% from a year earlier. The S&P 500 is up 0.5% week to date, while the Dow is toting a 0.2% gain.

Persons: Dow Jones, Preston Caldwell, Wells Organizations: New York Stock Exchange, Stock, Futures, Nasdaq, Dow Jones, Dow, Federal Reserve, Morningstar, JPMorgan Chase Locations: New York City

☆ Inflation was hotter than expected in September, but continued its downward trend
▼ + stars: | 2024-10-10 | by ( Madison Hoff | ) www.businessinsider.com time to read: +2 min

The unexpectedly hot inflation reading complicates the prospect of further rate cuts from the Fed. This index was expected to see a year-over-year increase of 2.3%, a cooler rate than August's 2.5%. The surprisingly hot inflation reading is a sign that the economy is running strong, and complicates the Fed's next rate decision, since in theory higher inflation would make further cuts less likely. AdvertisementThat could be because the market also digested weekly jobless-claim figures that came in higher than expected. Following a surprisingly strong September jobs report, speculation rose that the Fed might slow its pace of rate cuts — or even stop them altogether.

Persons: — Organizations: Service Locations: mull

☆ Stock market today: Indexes decline after inflation comes in hotter than expected
▼ + stars: | 2024-10-10 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +3 min

Indexes dipped Thursday as investors took in hotter-than-expected inflation data. Traders see the latest data solidifying odds of a 25 basis point rate cut next month. AdvertisementUS stocks edged lower on Thursday as investors took in slightly hotter-than-expected inflation data after last week's blockbuster jobs report. The core CPI reading, which excludes food and energy costs, came in at 3.3% year-over-year, slightly above forecasts of 3.2% and 0.3% higher than the August reading. JPMorgan's top strategist, one of Wall Street's biggest bears, is turning upbeat on the stock market for the first time in two years.

Persons: —, Milton, Bill Gross Organizations: Traders, Service, CPI, Federal Reserve, JPMorgan, Labor Department, FEMA, Hurricanes Locations: Here's

☆ Dollar hovers near two-month peak as Fed easing bets ebb before inflation data
▼ + stars: | 2024-10-10 | by ( ) www.cnbc.com time to read: +3 min

The U.S. dollar traded near a two-month peak against major peers on Thursday as markets grew more confident about a patient approach from the Federal Reserve to further monetary easing, even as a key inflation report loomed later in the day. The U.S. dollar traded near a two-month peak against major peers on Thursday as markets grew more confident about a patient approach from the Federal Reserve to further monetary easing, even as a key inflation report loomed later in the day. The euro languished near its lowest since Aug. 13, while against the yen, the dollar hovered close to its strongest level since Aug. 15. The dollar index was little changed at 102.86 as of 0024 GMT, sticking close to Wednesday's high of 102.93. The greenback eased 0.18% to 149.035 yen , but was not far from the overnight peak of 146.365.

Persons: Kyle Rodda, —, Rodda, Mary Daly Organizations: U.S ., Federal Reserve, Reuters, U.S, CPI, Francisco Fed, Traders, New Locations: U.S

☆ Stock market today: Indexes close lower after CPI shows sticky inflation in September
▼ + stars: | 2024-10-10 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +3 min

Indexes slipped Thursday as investors priced in a higher-than-expected inflation reading. The data raises the possibility of a "no landing" scenario for the US economy. AdvertisementStocks fell on Thursday from records reached in the previous session, as traders took in a sticky inflation reading for September. September consumer price index data released on Thursday showed inflation rose 2.4% year-over-year, slightly above consensus forecasts of a 2.3% rise. AdvertisementThe core CPI reading, which excludes more volatile food and energy costs, was up 3.3% year-over-year and just above forecasts of 3.2%.

Persons: —, Stocks, Hurricane Milton, Jamie Dimon, Buffett Organizations: Traders, Service, Dow Jones, Nasdaq, Dow, CPI, Federal Reserve, Bank of America, Investors, Labor Department, Here's, Insurance Locations: Hurricane

☆ European markets set for higher open as investors brace for U.S. inflation data
▼ + stars: | 2024-10-10 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +1 min

European markets are heading for a positive open Thursday as investors await the latest U.S. inflation data for more signs that price pressures are easing. Economists polled by Dow Jones anticipate a 0.1% increase on a monthly basis, and a 2.3% advance over the prior 12 months. The result will also inform the Federal Reserve's next steps on policy at its November meeting. Fed funds futures trading data suggests a roughly 70% likelihood of a quarter-point cut, according to CME Group's FedWatch tool. U.S. stock futures were little changed Wednesday night, while Asia-Pacific markets opened mostly higher on Thursday, buoyed by gains on Wall Street on Wednesday.

Persons: Dow Jones Organizations: Federal, Dow Jones Locations: Asia, Pacific

☆ Fed officials were divided on whether to cut rates by half a point in September, minutes show
▼ + stars: | 2024-10-09 | by ( Jeff Cox | ) www.cnbc.com time to read: +5 min

"A few participants also added that a 25 basis point move could signal a more predictable path of policy normalization." Since the meeting, economic indicators have showed that the labor market is perhaps stronger than officials favoring the 50 basis point move had expected. The minutes noted that the vote to approve the 50 basis point cut came "in light of the progress on inflation and the balance of risks" against the labor market. Though the document was more detailed about the debate over whether to approve the 25 basis point cut, there was not as much information about why voters supported the larger move. Since the Fed meeting, both the 10- and 2-year Treasury yields have surged about 40 basis points.

Persons: Michelle Bowman, nonfarm, Jerome Powell, Powell Organizations: Federal, Market, Treasury Locations: WASHINGTON

☆ Gold lacks momentum as investors brace for Fed minutes
▼ + stars: | 2024-10-09 | by ( ) www.cnbc.com time to read: +2 min

Gold prices slipped on Thursday as investors booked profits after a sustained rally and pressure from institutional investors looking to raise cash, while focus shifted to U.S. economic data for clues on the Federal Reserve's rate path. Gold prices were subdued on Wednesday as investors strapped in for minutes from the Federal Reserve's latest policy meeting for insights into the U.S. central bank's interest rate trajectory. "Gold prices seem to be seeing a much-needed retracement lower. Boston Fed President Susan Collins said on Tuesday that weakening inflation trends make it likely the U.S. central bank can implement further interest rate cuts. Zero-yield bullion tends to thrive in a low interest rate environment.

Persons: I'm, Matt Simpson, Simpson, Susan Collins Organizations: Federal, Index, Traders, U.S . Consumer, Boston, Gold Locations: U.S, North America

☆ Emons: Cutting more will stimulate the economy
▼ + stars: | 2024-10-09 | 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 EmailEmons: Cutting more will stimulate the economyBen Emons, Chief Investment Officer at FedWatch Advisors, discusses market movements, including a recent rally driven by tech stocks and AI growth. He emphasizes the significance of the upcoming Fed minutes and CPI data.

Persons: Ben Emons Organizations: FedWatch Advisors

☆ Stock market today: US stocks close at all-time highs ahead of key inflation update
▼ + stars: | 2024-10-09 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +4 min

Indexes hit fresh all-time highs ahead of the key inflation report for September due Thursday. AdvertisementUS stocks jumped on Wednesday as traders looked ahead to coming inflation data and took in the minutes of the Federal Reserve's last meeting. The stakes of the next inflation reading have risen after the big September jobs number, and Wall Street could be in for some volatility in the event of an upside surprise, Bank of America said this week. Central bankers predicted inflation would fall to 2% by 2026, while risks to economic strength were "tilted to the downside." According to the CME FedWatch tool, the odds for another jumbo-sized rate cut in 2024 have fallen to zero.

Persons: —, Josh Hirt, Oliver Allen Organizations: Service, Dow Jones Industrial, Investors, Nasdaq, Justice, Treasury, Here's, Fed, Bank of America, Vanguard, Pantheon

☆ Stock futures are little changed as September consumer inflation report looms: Live updates
▼ + stars: | 2024-10-09 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

Traders work on the floor of the New York Stock Exchange during morning trading in New York City. U.S. stock futures were little changed Wednesday night as investors looked ahead to the release of September's consumer price index report. Futures tied to the Dow Jones Industrial Average traded near the flatline. Fed funds futures trading data suggests a roughly 70% likelihood of a quarter-point cut, according to CME Group's FedWatch tool. Economists polled by Dow Jones see core CPI, which excludes food and energy prices, rising by 0.2%.

Persons: Dow, Dow Jones, Stephanie Roth Organizations: New York Stock Exchange, Dow Jones Industrial, Nasdaq, Federal, Wolfe Research, Delta Air Lines Locations: New York City . U.S

☆ Stock market today: US stocks trade mixed with Fed minutes and rate outlook in focus
▼ + stars: | 2024-10-09 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

US stocks traded mixed as investors looked ahead to the central bank's meeting minutes. Traders are anticipating a quarter-point rate cut in November. Monetary policy is in focus after an unexpectedly hot job report in September, fueling doubt over whether the Fed will issue another jumbo rate cut this year. "The tone of the Fed minutes should not change expectations of further rate cuts—the Fed is still scrambling to catch up with inflation slowing in the US, and started cutting rates late. AdvertisementAccording to Pantheon Macroeconomics, the Fed is more likely to begin cutting rates in 25-basis-point increments rather than issuing another 50-basis-point rate cut.

Persons: —, Paul Donovan Organizations: Service, Reserve, UBS Global Wealth Management, Pantheon, Fed, US Department of Justice

☆ Dollar holds on to 7-week highs as traders consider U.S. rates outlook
▼ + stars: | 2024-10-08 | by ( ) www.cnbc.com time to read: +3 min

The dollar clung to seven-week highs against major currencies on Tuesday as investors ponder the outlook for U.S. rates after a strong jobs report last week dashed bets for large rate cuts, while escalating tensions in Middle East dented risk sentiment. Traders have drastically shifted their monetary easing expectations from the Federal Reserve this year. That has kept the dollar on the front foot and surging to a multi-week high against the euro, sterling and the yen. The New Zealand dollar was 0.3% higher at $0.6144 ahead of the monetary policy decision on Wednesday. A majority of economists in a Reuters poll last week said the Reserve Bank of New Zealand will cut interest rate by 50 basis points.

Persons: Kieran Williams, Louis, Alberto Musalem, Shigeru Ishiba Organizations: Federal Reserve, Asia FX, InTouch, Reserve Bank of St, Treasury, Bank of, New Zealand, Reserve Bank of New Locations: Middle East, Asia, China, Bank of Japan, Reserve Bank of New Zealand

☆ Rate cuts were supposed to push mortgage rates lower. The opposite has happened.
▼ + stars: | 2024-10-08 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

Fed easing hasn't led to lower mortgage rates, with the 30-year fixed rate actually rising since the first rate cut. Mortgage rates are closely linked to the 10-year US Treasury yield, which have also risen over the period. AdvertisementThe Federal Reserve's jumbo interest-rate cut in mid-September was welcome news to prospective homebuyers, with the expectation that a lower fed funds rate would help push mortgage rates lower. According to data from Mortgage News Daily, the average 30-year fixed mortgage rate has jumped about 47 basis points since the Fed rate cut, to 6.62% from 6.15%. Whether that will manifest itself in lower mortgage rates is up in the air.

Persons: —, Jerome Powell, Sonu Varghese, it's Organizations: Treasury, Service, Mortgage News, Carson, CME

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