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☆ Gold prices muted with U.S. inflation data in focus
▼ + stars: | 2024-06-26 | by ( ) www.cnbc.com time to read: +2 min

Gold prices steadied on Thursday as investors digested comments from Federal Reserve Governor Christopher Waller on interest rate cuts and looked forward to more U.S. economic data for policy clues. Gold prices were subdued on Wednesday ahead of crucial U.S. inflation data due this week, which could offer more clarity on the timing of the Federal Reserve's first interest rate cut this year. Meanwhile, Fed Governor Lisa Cook said "at some point" it will be time to cut interest rates. "Dips in the gold price remain relatively shallow courtesy of buyers stepping in from the sidelines on price retreats," Tim Waterer, chief market analyst at KCM Trade, said in a note. Waterer added that the $2,368 level would need to be breached for gold to surpass the highs from last week.

Persons: Christopher Waller, Yeap Jun Rong, Michelle Bowman, Lisa Cook, IG's, Rong, Tim Waterer, Waterer Organizations: Federal Reserve, Federal, Fed, U.S, KCM Locations: U.S

☆ Treasury yields climb as investors weigh comments from Fed speakers
▼ + stars: | 2024-06-26 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

The 2-year Treasury yield was last at 4.7306% after rising by close to four basis points. U.S. Treasury yields were higher on Wednesday as investors considered the latest comments from Federal Reserve officials about monetary policy and awaited key economic data. Investors digested remarks from Federal Reserve officials about the U.S. economy and the outlook for interest rates. Bowman also did not take further interest rate hikes off the table. Meanwhile, Fed Governor Lisa Cook on Tuesday said she only expects little change to inflation rates this year, but sees inflation "slowing more sharply" next year.

Persons: Michelle Bowman, Bowman, Lisa Cook Organizations: Treasury, U.S, Federal Reserve, Investors, PCE Locations: U.S

☆ Steady dollar sends yen to the brink of 160
▼ + stars: | 2024-06-26 | by ( ) www.cnbc.com time to read: +2 min

The dollar was firm on Wednesday and trading on the precipice of the 160 yen barrier as investors turned cautious and counted down to the release of U.S. price data at the end of the week. The dollar was firm on Wednesday and trading on the precipice of the 160 yen barrier as investors turned cautious and counted down to the release of U.S. price data at the end of the week. The Australian dollar dipped 0.1% to $0.6640 and the New Zealand dollar similarly slipped to $0.6115, with small moves reflecting thin trade. Sterling was steady at $1.268, while bitcoin has recovered somewhat from a dip below $60,000 this week to trade at $61,668. "The yen moves more, and yuan moves are more controlled, but they seldom move in opposite directions," said Societe Generale strategist Kit Juckes.

Persons: Pat Bustamante, Lisa Cook, Michelle Bowman, Bowman, bitcoin, Kit Juckes Organizations: Canadian, Westpac, Federal, Fed, New Zealand, Citi, Sterling, Generale Locations: Asia, U.S, China

☆ Stock market news: US stocks slide and bond yields rise as traders eye new economic data
▼ + stars: | 2024-06-26 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

US stocks ticked lower on Wednesday. Major averages ticked lower, while bond yields rose. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementUS stocks slumped on Wednesday, with major averages down as bond yields rose as Nvidia shares wavered and investors eyed fresh economic data. Nvidia shares slid as much as 1.2% in early-morning trading before paring losses, trading about 0.25% higher shortly after the opening bell.

Persons: —, Morrison, Dow Jones, Michelle Bowman Organizations: Nvidia, Service, Fed, Treasury, Here's

☆ Stock market today: US indexes rebound as Nvidia's revival sets off a tech rally
▼ + stars: | 2024-06-25 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

Nvidia stock reversed a three-day drop, boosting the S&P 500 and Nasdaq. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAn end to Nvidia's rout brought new life to the stock market on Tuesday, sending the S&P 500 and Nasdaq churning higher in the session. Investors are keeping watch for Friday's personal consumption expenditures release, which will help determine US inflation and future monetary policy.

Persons: Michelle Bowman, there's, —, Jeffrey Roach Organizations: Nasdaq, Service, Nvidia, Amazon, Google, Financial, Investors, Federal Reserve Locations: Here's

☆ Gold drifts lower as traders await U.S. inflation data
▼ + stars: | 2024-06-25 | by ( ) www.cnbc.com time to read: +2 min

Gold prices eased on Tuesday, while investors looked toward key U.S. inflation data due later this week that could throw some light on the Federal Reserve's interest rate cut stance. Gold prices eased on Tuesday, while investors looked toward key U.S. inflation data due later this week that could throw some light on the Federal Reserve's interest rate cut stance. Spot gold was down 0.2% at $2,327.52 per ounce as of 0339 GMT. "Technical factors in the short-term are not so positive for gold. Other Fed officials speaking this week include Fed Governors Lisa Cook and Michelle Bowman along with Richmond Fed President Tom Barkin.

Persons: Kelvin Wong, Bullion, Wong, Mary Daly, Lisa Cook, Michelle Bowman, Tom Barkin Organizations: Asia Pacific, U.S, San Francisco Fed Bank, Richmond Fed Locations: OANDA, U.S

☆ Stock market today: Indexes trade mixed as traders try to recover from Nvidia-fueled sell-off
▼ + stars: | 2024-06-25 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

US indexes climbed as Nvidia reversed a three-day sell-offNvidia's stock fell nearly 17%, offering long investors opportunity to buy in. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementUS indexes moved mostly higher Tuesday morning, with investors looking to reverse the Nvidia-led drop. AdvertisementThis week, investors are also keeping track of Federal Reserve commentary from a roster of officials scheduled to speak, as well as the personal consumption expenditures data scheduled for Friday. Here's where US indexes stood at the 9:30 a.m. opening bell on Tuesday:AdvertisementHere's what else happened today:In commodities, bonds, and crypto:Advertisement

Persons: Michelle Bowman, —, David Morrison Organizations: Nvidia, Fed, Service, Trade Nation, Federal Locations: Nvidia's

☆ Fed Governor Bowman says she's still open to raising rates if inflation doesn't improve
▼ + stars: | 2024-06-25 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

Michelle Bowman, governor of the US Federal Reserve, speaks during the Exchequer Club meeting in Washington, DC, US, on Wednesday, Feb. 21, 2024. Federal Reserve Governor Michelle Bowman said Tuesday the time is not right yet to start lowering interest rates, adding she would be open to raising if inflation doesn't pull back. "However, we are still not yet at the point where it is appropriate to lower the policy rate." The Commerce Department on Friday will release its reading on the May personal consumption expenditures price index, the Fed's preferred inflation gauge. Economists surveyed by Dow Jones expect a 12-month inflation rate of 2.6% on both the all-items and core, which excludes food and energy prices.

Persons: Michelle Bowman, Bowman, Dow Jones, Mary Daly, Daly, CNBC's Deirdre Bosa, it's, Austan Goolsbee, CNBC's Steve Liesman Organizations: US Federal Reserve, Federal, Market, Commerce Department, European Central Bank, San Francisco Fed, Chicago Fed Locations: Washington , DC, London, U.S, San Francisco

REUTERS/Bobby Yip/File Photo Purchase Licensing Rights New Tab , opens new tabJune 26 (Reuters) - A look at the day ahead in Asian markets. The first definition that appears in an online search for the meaning of "resilience" is "the capacity to withstand or to recover quickly from difficulties; toughness." In that light, the direction Asian markets are liable to take on Wednesday is hard to call. Broader concerns about the weakness of the yen and potential intervention from Japanese authorities, and the Chinese yuan's steady depreciation, still hang heavily over Asian markets. Here are key developments that could provide more direction to markets on Wednesday:- Australia inflation (May)- RBA assistant governor Kent speaks- Singapore manufacturing production (May)Sign up here.

Persons: Bobby Yip, Tuesday's, Christopher Kent, Kent, Jamie McGeever Organizations: Hong Kong Stock Exchange, REUTERS, Nvidia, Tuesday's U.S, Reserve Bank of Australia, Bank of Japan, U.S, Reuters, Thomson Locations: Hong Kong, China, U.S, Tuesday's, Singapore, Australia

☆ Fed officials are talking down the chance of rate cut this year
▼ + stars: | 2024-06-25 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +3 min

London CNN —At the beginning of the year, Federal Reserve officials projected they would cut interest rates three times this year. The labor-force participation rate has leveled off after a post-Covid boom, and the US immigration policy rate may soon become more restrictive, limiting potential new labor market participants. “Reducing our policy rate too soon or too quickly could result in a rebound in inflation, requiring further future policy rate increases to return inflation to 2% over the longer run.”Investors weren’t happy to hear it. That’s why not taking preemptive action when it’s not necessary is so important.”Chicago Fed President Austan Goolsbee has also been particularly hawkish in his views. He also said rate hikes are “certainly not off the table.”Like Bowman and Kashkari, New York Fed President John Williams said rate hikes aren’t part of his baseline outlook.

Persons: Michelle Bowman, she’s, ” Bowman, Bowman, ”, Dow, Mary Daly, Daly, ” Daly, “ We’re, it’s, Austan Goolsbee, Goolsbee, Neel Kashkari, John Williams, he’s Organizations: London CNN —, Federal Reserve, Exchange, London ., Federal, Market, Nvidia, San Francisco Fed, Commonwealth Club World Affairs of California, Chicago Fed, Minneapolis, Kashkari , New York Fed, Commerce Department Locations: London, San Francisco, Kashkari , New

☆ Gold edges higher on softer yields; U.S. inflation data in focus
▼ + stars: | 2024-06-24 | by ( ) www.cnbc.com time to read: +2 min

Gold prices edged up on Monday as Treasury yields fell, while investors awaited key U.S. inflation data and Federal Reserve officials' comments through the week for fresh clues on the potential timing of the central bank's interest rate cut. Gold prices edged up on Monday as Treasury yields fell, while investors awaited key U.S. inflation data and Federal Reserve officials' comments through the week for fresh clues on the potential timing of the central bank's interest rate cut. Spot gold was up 0.2% at $2,325.53 per ounce as of 0333 GMT, after falling more than 1% on Friday. Benchmark 10-year U.S. Treasury yields edged down, making non-yielding bullion more attractive for investors. There are at least five Fed officials speaking this week, including San Francisco Fed President Mary Daly and Fed Governors Lisa Cook and Michelle Bowman.

Persons: Kyle Rodda, Rodda, Mary Daly, Lisa Cook, Michelle Bowman Organizations: Federal Reserve, Treasury, Capital.com, Traders, San Francisco Fed Locations: Capital.com .

☆ America’s housing crisis continues to worsen
▼ + stars: | 2024-06-23 | by ( Bryan Mena | ) edition.cnn.com time to read: +6 min

Washington CNN —Homeowners in America aren’t the only ones struggling with an unaffordable housing market. A report from Harvard University’s Joint Center for Housing Studies released last week showed that both homeowners and renters in recent years have become increasingly burdened by climbing housing costs. That’s all part of a broader struggle in the US housing market, and recent data shows that it hasn’t gotten any better. But there’s a problem: ChatGPT — soon to be integrated into Siri — is banned in China, reports my colleague Samantha Murphy Kelly. The Chicago Fed releases its National Activity Index for May.

Persons: ” Lael Brainard, ”, “, Brainard, Biden, ” Brainard, ChatGPT —, Siri —, Samantha Murphy Kelly, OpenAI, Siri, ChatGPT, Read, Christopher Waller, Lisa Cook, Michelle Bowman, General Mills, Levi Strauss, Tom Barkin Organizations: CNN Business, Bell, Washington CNN — Homeowners, America aren’t, Harvard University’s, for Housing Studies, Harvard, “, White, Economic Council, Urban Institute, Administration, Apple, Apple Intelligence, Microsoft, Google, Meta, Samsung, Cyberspace Administration, FedEx, Chicago Fed, Global, Index, Board, Micron, General, US Commerce Department, Federal Reserve, Nike, McCormick, Walgreens, US Labor Department, National Association of Realtors, Richmond Fed, University of Michigan Locations: Washington, America, Congress, China

☆ Former Fed Governor Tarullo: Fed Chair Powell did his best to preserve some optionality for the FOMC
▼ + stars: | 2024-06-17 | 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 EmailFormer Fed Governor Tarullo: Fed Chair Powell did his best to preserve some optionality for the FOMCDaniel Tarullo, Harvard Law School professor and former Federal Reserve Governor, joins 'Squawk Box' to discuss the Fed's inflation fight, state of the economy, rate path outlook, and more.

Persons: Tarullo, Powell, Daniel Tarullo Organizations: Former, Harvard Law School, Federal Reserve

☆ The Fed is winning its battle against inflation. So why isn’t it cutting rates?
▼ + stars: | 2024-06-11 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +4 min

That’s why it is crucial for central bankers to insist on 2%. “By communicating an explicit inflation target — and then delivering inflation consistent with that target — central banks earn credibility with the public,” New York Fed President John Williams said in a recent speech. Stripping away highly volatile categories such as food and energy — a measure referred to as “core” inflation — won’t quell central bankers’ concerns. The Fed can’t ignore CPIAlthough CPI isn’t the inflation gauge the Fed targets, central bankers don’t write it off. It was, however, welcome news to Fed officials that Consumer Price Index-measured inflation fell to 3.4% in April from 3.5% in March.

Persons: Frank Robinson, “, they’re, Jerome Powell, ” Powell, Ben Bernanke, they’ll, John Williams, hasn’t, ”, Tom Barkin, don’t, Christopher Waller Organizations: New, New York CNN —, Federal, Fed, New York Fed, ” New York Fed, ” Richmond Fed, CPI Locations: New York

☆ Nvidia will be key to market's direction as Wall Street heads into the summer with May jobs report on deck
▼ + stars: | 2024-05-31 | by ( Sarah Min | ) www.cnbc.com time to read: +6 min

Nvidia is the key to how stocks will perform in the next few months as investors head into a seasonally weak period for markets, with the macroeconomic picture once again a center of attention. Stocks capped a winning month in May after a strong earnings season and signs of easing inflation buoyed investor optimism. .VIX YTD mountain CBOE Volatility Index In fact, the CBOE Volatility Index, known as Wall Street's fear gauge, is currently at 14. The broad market index was last around 5,220. Traders will have to rely on macroeconomic data for the next several weeks, including the May jobs report that's on deck next Friday.

Persons: Stocks, what's, Olivier Sarfati, Sarfati, Jensen Huang's, Josh Brown, Jonathan Krinsky, Jeff deGraff, CNBC's, deGraff, Rob Ginsberg, JC O'Hara, Roth, Dow Jones, Thomas Urano, Jobs, Cook Organizations: Nvidia, Nasdaq, Dow Jones, Ritholtz Wealth, Semiconductors, VanEck Semiconductor, Macro, Wolfe Research, Advisory, PMI, Manufacturing, Hewlett Packard Enterprise, Body, Services PMI, Labor, Girls Global, University of, District of Columbia, Consumer Credit Locations: Smucker, Washington

☆ Former Fed Governor Dan Tarullo: The Fed will need to see more progress on inflation before rate cut
▼ + stars: | 2024-05-29 | 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 EmailFormer Fed Governor Dan Tarullo: The Fed will need to see more progress on inflation before rate cutDaniel Tarullo, Harvard Law School professor and former Federal Reserve Governor, joins 'Squawk Box' to discuss the Fed's inflation fight, interest rate path outlook, and more.

Persons: Dan Tarullo, Daniel Tarullo Organizations: Former, Harvard Law School, Federal Reserve

☆ The Fed probably won't be delivering any interest rate cuts this summer
▼ + stars: | 2024-05-25 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

Michael M. Santiago | Getty ImagesInvestors likely will have to sweat out a summer during which it looks increasingly improbable that the Federal Reserve will be cutting interest rates. A batch of stronger-than-expected economic data coupled with fresh commentary from policymakers is pointing away from any near-term policy easing. "The market takes every bit of data and translates it to how the Fed sees it. So if the Fed is data dependent, the market is probably more data dependent." Put it together, and there's not much reason for the Fed to be easing policy here.

Persons: Michael M, Quincy Krosby, Christopher Waller, there's, Michael Gapen, BofA, Gapen Organizations: New York Stock Exchange, Santiago, Getty, Federal Reserve, Dow Jones, LPL, Fed, Bank of America Locations: New York City

☆ Dollar holds firm as traders trim U.S. rate cut bets
▼ + stars: | 2024-05-24 | by ( ) www.cnbc.com time to read: +3 min

"The carry of holding dollars is far juicier," he said, while policymakers' rhetoric has also made traders nervous about inflation and the risk rate cuts would be distant or small. Traders have pushed out the timing of the first Fed rate cut to December. Thursday's business surveys from S&P Global supported the conviction among many traders that the Fed may keep rates higher for longer. But not for traders who are positioned for Fed cuts. Rates markets still price a near 90% chance the ECB cuts rates next month.

Persons: Martin Whetton, Matt Simpson, Sterling, Christopher Waller Organizations: U.S, Westpac, Federal, Traders, P Global, European Central Bank, Federal Reserve Locations: Sydney

☆ Here's where BlackRock's bond guru Rick Rieder sees opportunity right now
▼ + stars: | 2024-05-24 | by ( Michelle Fox | ) www.cnbc.com time to read: +5 min

There's a lot to like right now in the fixed income market, according to BlackRock's Rick Rieder. He finds European credit, both investment grade and BB-rated high yield, attractive in part because of the strong U.S. dollar. They have also added high quality CLOs and high-quality European securitized assets. "We're getting more yield than BB high yield. We're getting almost as much yield as full high yield — and our volatility is 60% of that market, just because we diversified," Rieder said.

Persons: BlackRock's Rick Rieder, Rieder, Bond, Fed Governor Waller, I've, He'd, Morningstar, We've, we're, BINC, We're, they'll Organizations: CNBC, SEC, Federal Reserve, Fed, AAA, BlackRock AAA, BlackRock AAA CLO, U.S, CLOs, MBS Locations: BlackRock, CLOs, European

☆ U.S. Treasury yields rise as investors weigh Fed speaker comments
▼ + stars: | 2024-05-22 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +2 min

ET, the 10-year Treasury yield was up by over two basis points to 4.4374%. The 2-year Treasury yield was last at 4.8626% after rising by nearly three basis points. U.S. Treasury yields were higher on Wednesday as investors considered the latest comments from Federal Reserve speakers about the outlook for inflation and interest rates. A series of Fed officials on Tuesday urged patience when it comes to rate cuts as inflation remains above the Fed's 2% target. On Wednesday, further Fed officials are set to give remarks and minutes from the central bank's latest meeting are due to be released.

Persons: Christopher Waller, Susan Collins, Raphael Bostic Organizations: U.S, Treasury, Federal Reserve, Boston Fed, Atlanta Fed

☆ Fed officials seem like they have ‘no idea’ what is going on with U.S. inflation, strategist says
▼ + stars: | 2024-05-22 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +3 min

"I think the message that's coming through is that they have no idea what's going on," Howard said on CNBC's "Squawk Box Europe" on Wednesday. Fed Governor Christopher Waller on Tuesday said that he needed to see further data evidence that inflation was softening before supporting rate cuts. Waller's comments were echoed by other Fed officials on Tuesday, including Boston Fed President Susan Collins. 'A credibility problem'But Fed officials have not come out with a clear message about their expectations or to address why inflation remains elevated, GAM's Howard said. "And now [policymakers] think inflation is coming down but its not coming down fast enough," he said.

Persons: Valerie Plesch, Julian Howard, Howard, Christopher Waller, Waller's, Susan Collins, GAM's Howard, They've Organizations: Eccles Federal, Bloomberg, Getty, Federal, GAM, Fed, Peterson Institute for International Economics, Boston Fed, Atlanta Federal Reserve Locations: Washington , DC, U.S, Washington

☆ Fed officials aren’t easing Wall Street’s nerves
▼ + stars: | 2024-05-22 | by ( Bryan Mena | ) edition.cnn.com time to read: +4 min

Optimism spurred by the latest inflation data pushed all three major stock indexes to new record highs. But now Wall Street, eager for rate cuts, is on edge again. But some financial leaders remain doubtful that the Fed is feeling confident enough to cut rates soon. “I think we’re set up for stickier inflation.”Some Fed officials say another rate hike isn’t likelyFed officials have mostly sounded a little more optimistic about inflation recently, after the Consumer Price Index for April finally provided some welcome news. Cleveland Fed President Loretta Mester told Bloomberg on Monday that she also thinks interest rates are high enough to deal with inflation.

Persons: they’re, Dow, Christopher Waller, ” Waller, Goldman Sachs, David Solomon, “ I’m, ”, “, Philip Jefferson, Mary Daly, Axios, Jerome Powell, Klaas Knot, Loretta Mester, Chris Larkin Organizations: Washington CNN, Federal Reserve, CNBC, ”, Peterson Institute for International Economics, Boston College, Mortgage, Association, ” San Francisco Fed, European Central Bank Governing, Cleveland Fed, Bloomberg, “ Locations: ” San

☆ High inflation made finances worse for 65% of Americans in 2023
▼ + stars: | 2024-05-21 | by ( Alicia Wallace | ) edition.cnn.com time to read: +4 min

The Fed on Tuesday released its Economic Well-Being of US Households report for 2023, examining the financial lives of US adults and their families. Inflation made the financial lives “worse” for 65% of US households, according to the report. Three-plus years of high inflation have taken their toll on Americans’ wallets and their psyches. That was especially true in 2022, when US inflation hit 9.1%, its highest annual rate in more than 40 years. Incomes grew healthily in 2023, but so did spending, the Fed report showed.

Persons: ”, Michelle Bowman, Tuesday’s, they’d Organizations: CNN, Reserve, Tuesday, Household Economics, Survey, ”, Federal Reserve

☆ Fed Governor Christopher Waller: Don't think we are going to need to raise rates
▼ + stars: | 2024-05-21 | 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 Governor Christopher Waller: Don't think we are going to need to raise ratesCNBC's Steve Liesman sits down with Fed Governor Christopher Waller to discuss inflation, rate policy, and more.

Persons: Christopher Waller, Steve Liesman Organizations: Fed

☆ Fed Governor Waller wants 'several months' of good inflation data before lowering rates
▼ + stars: | 2024-05-21 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

Christopher Waller, governor of the US Federal Reserve, during a Fed Listens event in Washington, D.C., on Friday, Sept. 23, 2022. Federal Reserve Governor Christopher Waller, citing a string of data showing that inflation appears to be easing, said Tuesday that he does not think further interest rate increases will be necessary. Yet Waller said he's not ready to back interest rate cuts. Markets have had to recalibrate their expectations for monetary policy this year. In the early months, futures markets traders priced in at least six rate cuts this year starting in March.

Persons: Christopher Waller, Waller, he's Organizations: US Federal Reserve, Washington , D.C, Federal, Peterson Institute for International Economics, Market, Labor Department Locations: Washington ,, Washington

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