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☆ Why one firm is skeptical about the blockbuster September jobs report — and is still expecting another jumbo rate cut
▼ + stars: | 2024-10-04 | by ( Filip De Mott | ) www.businessinsider.com time to read: +4 min

The Fed will still deliver jumbo rate cuts to stabilize the weakening job market, the firm predicted. AdvertisementThough most on Wall Street are cheering September's blowout labor report, not everyone is so sure the labor market is booming. Advertisement"The extremely low response rate to the payroll survey waves a red flag," the firm wrote on Friday. The firm scrutinized last month's payroll strength against the fact that other labor market indicators have shown a pullback in hiring. Meanwhile, this week's JOLTS data prompted Deutsche Bank to question how tight the labor market really is.

Persons: —, Larry Summers Organizations: Macroeconomics, Service, Deutsche Bank, of Labor Statistics, Conference, Federal, Bank of America Locations: joblessness, tanked

☆ Stock markets today: Indexes slip as jobless claims rise ahead of highly anticipated jobs report
▼ + stars: | 2024-10-03 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +3 min

Indexes edged lower Thursday as investors assessed jobless claims and geopolitical tensions. On Friday, investors will get a fresh labor market update from the September nonfarm payrolls report. AdvertisementUS stocks inched lower on Thursday, fueled by an uptick in jobless claims ahead of a key jobs report and continued tensions in the Middle East. Analysts say the report will likely have a big influence on both markets and the Fed in the coming weeks. Advertisement"We think a soft employment report is likely to generate a larger market response vs a strong labor report," Bank of America analysts said in a Wednesday report.

Persons: —, Israel Organizations: Service, Labor Department, Israel, Federal, Bank of America, Trump, RBC Locations: Iran

☆ Stock market today: Indexes fall, oil surges on Middle East turmoil ahead of jobs report
▼ + stars: | 2024-10-03 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +3 min

Traders are watching rising risks to oil supplies as tensions in the Middle East escalate. US oil spiked 5.5% to $73.98 a barrel and Brent prices rose more than 5% to trade at $77.86. If the conflict destroys Iran's oil infrastructure, oil prices could surge 161% to over $200 a barrel, according to SEB's chief commodities analyst Bjarne Schieldrop. AdvertisementInvestors are eagerly awaiting the September jobs report, due Friday, for further signs of labor market health. Markets are pricing in a 65% chance of a smaller 25 basis point cut in November, according to the CME FedWatch Tool.

Persons: Friday's nonfarm, Biden, —, Joe Biden, retaliating, Biden's, Brent, Bjarne Schieldrop, Economists, Jensen Huang, Blackwell Organizations: Traders, Service, Dow Jones, Nasdaq, Treasury, Israel, Labor Department, Federal Reserve, Costco Locations: Israel, Iran

☆ Yale's Stephen Roach: Markets are in danger of being 'whipsawed' by Middle East conflict, U.S. unemployment
▼ + stars: | 2024-10-02 | by ( Anniek Bao | In | ) www.cnbc.com time to read: +3 min

Ilia Yefimovich/dpa | Picture Alliance | Getty ImagesMarkets are in danger of being "whipsawed" by the combination of regional conflict in the Middle East and rising unemployment in the United States, says Stephen Roach, senior fellow at Yale Law School's Paul Tsai China Center. Most Asian markets fell on Wednesday, tracking losses on Wall Street overnight, as investors fretted over rising tensions in the Middle East. A higher-than-expected unemployment rate could prompt the Fed to accelerate the easing cycle to achieve a soft landing. The unemployment rate in September is expected to come in at 4.2%, according to data of a Reuters poll on LSEG, unchanged from the August figure. The unemployment rate had jumped to near a three-year high of 4.3% in July, a dramatic rise from the five-decade low of 3.4% in April 2023.watch now

Persons: Ilia Yefimovich, Stephen Roach, Yale Law School's Paul Tsai, Hassan Nasrallah, Roach, CNBC's, Stephen Stanley, Kelvin Tay Organizations: Missiles, Getty, Yale Law, Yale Law School's Paul Tsai China Center, Wall, Israel Defense Forces, Santander, Organization of, Petroleum, Energy Information Administration, UBS Global Wealth Management, U.S . Federal Reserve, Traders, U.S, U.S . Federal Locations: Israel, Tel Aviv, Iran, United States, Iranian, Lebanon, U.S .

☆ Stock market today: US stocks edge up amid Middle East turmoil as traders turn to incoming data
▼ + stars: | 2024-10-02 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

US stocks closed higher on Wednesday as traders looked to coming economic data. The September jobs report, a key data point for the next rate move, is due out Friday. AdvertisementUS stocks ended slightly higher on Wednesday as traders anticipated key economic data in the US and looked past simmering tensions in the Middle East. Markets are also taking in positive jobs data, with the private sector adding 143,000 jobs last month, according to ADP. The latter will serve as a key data point when central bankers decide how much further to cut interest rates.

Persons: Traders, —, José Torres, Torres, tomorrow's Organizations: Service, Investors, Interactive Brokers, ADP, Here's Locations: Iran, Israel

☆ The stock market is off to its best start to a year since 1997 under Bill Clinton
▼ + stars: | 2024-10-01 | by ( Matt Egan | ) edition.cnn.com time to read: +3 min

Yet investors remain unrelentingly bullish, bidding the US stock market further into uncharted territory. That’s the strongest start to a year since 1997, according to FactSet, when the US economy was surging during the dotcom boom under President Bill Clinton. Kristina Hooper, chief global market strategist at Invesco, said the “very impressive” market performance has been driven by “continued resilience” in the US economy and enthusiasm over Fed rate cuts. US stocks retreated Tuesday after the White House warned that Iran is preparing to launch an imminent ballistic missile attack on Iran. “The Iran report is the thing scaring everyone right now,” said Michael Block, co-founder and chief operating officer at AgentSmyth.

Persons: Bill Clinton, Kristina Hooper, “, ”, Michael Block, hasn’t, Block Organizations: New, New York CNN, Federal, White, House, Tech, Nvidia, CNN Locations: New York, Iran, Taiwan

☆ Forget Nvidia: Here's how one CIO is positioning after the rate cut
▼ + stars: | 2024-09-30 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +3 min

The U.S. Federal Reserve's bumper 50-basis-point interest rate cut has been the talk of the market as investors evaluate sectors and stocks. Kingsley Jones, a chief investment officer at the Sydney-headquartered Jevons Global, says the rate cut has "supported the market." Avoid semiconductor equipment Jones is avoiding sectors like semiconductor equipment that companies have been spending more on, following interest in building AI infrastructure and chip factories. He warned of the impact that U.S. sanctions might have on semiconductor equipment plays. "So, I'd avoid the semi equipment sector trade out of that," he added.

Persons: Kingsley Jones, Jevons, Jones, it's, wasn't Organizations: U.S, Sydney, Tech, Big Tech, Nvidia, AbbVie Inc, Costco, Oracle Locations: Federal, United States, China

☆ CNBC Daily Open: Stocks are dancing in September
▼ + stars: | 2024-09-30 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

Andrew Kelly | ReutersThis 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. Stocks' defiant showing this September was helped by positive sentiment generated by the U.S. Federal Reserve's jumbo rate cut and upbeat economic data. Relatedly, the University of Michigan's consumer sentiment index for September rose to a better-than-forecast 70.1 from 67.9 in August. "Inflation continues to keep its head down, and while economic growth may be slowing, there's no indication it's falling off a cliff."

Persons: Andrew Kelly, Chris Larkin, Morgan Stanley, –, Jeff Cox, Brian Evans, Pia Singh Organizations: New York Stock Exchange, Reuters, CNBC, Nasdaq, Dow Jones, U.S, U.S . Federal, University of, U.S . Bureau, Atlanta Locations: U.S .

☆ Gold pulls back but dovish Fed sets it for best quarter since 2016
▼ + stars: | 2024-09-30 | by ( ) www.cnbc.com time to read: +2 min

Ingots of 99.99 percent pure gold are placed in a workroom at Krastsvetmet precious metals plant in the Siberian city of Krasnoyarsk, Russia, January 31, 2023. Spot gold was down 0.2% at $2,653.38 per ounce, as of 0404 GMT, owing to a rise in the U.S. dollar . A stronger dollar makes gold less attractive for other currency holders. Bullion has risen slightly over 14% so far this quarter, its best since January 2016. This boosted expectations of an another outsized interest rate cut at the Fed's November policy meeting.

Persons: Tim Waterer, nonfarm, Jerome Powell, Michelle Bowman, Waterer Organizations: U.S ., Federal, KCM, U.S, Sunday Locations: Siberian, Krasnoyarsk, Russia, U.S, Israel, Yemen, Lebanon

☆ CNBC Daily Open: Shiny September days for stocks
▼ + stars: | 2024-09-30 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

Brendan Mcdermid | ReutersThis 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. Stocks' defiant showing this September was helped by positive sentiment generated by the U.S. Federal Reserve's jumbo rate cut and upbeat economic data. Relatedly, the University of Michigan's consumer sentiment index for September rose to a better-than-forecast 70.1 from 67.9 in August. "Inflation continues to keep its head down, and while economic growth may be slowing, there's no indication it's falling off a cliff."

Persons: Brendan Mcdermid, Chris Larkin, Morgan Stanley, –, Jeff Cox, Brian Evans, Pia Singh Organizations: New York Stock Exchange, Reuters, CNBC, Nasdaq, Dow Jones, U.S, U.S . Federal, University of, U.S . Bureau, Atlanta Locations: U.S .

Richard Branson, the billionaire founder of Virgin Group, has turned his money and focus toward a very personal new project: DyslexicU, the first free online university for dyslexic thinkers. Branson said that while he wasn’t interested in school subjects such as geometry and applied mathematics, dyslexia helped him focus on his strengths. “If you’re a dyslexic person, you can go on and take one of the courses and learn more about how incredibly successful dyslexic people have used their dyslexic thinking to turbocharge their careers,” Branson’s co-founder Kate Griggs told NBC News. Whereas schools should be places to go and find out what’s going on in the world,” Branson said. “Find out one thing that really interests them and let them put their energy behind that,” Branson said.

Persons: Richard Branson, Branson, “, ”, I’ve, Kate Griggs, Olga Fedorova, ” Branson, Muhammad Ali, Steve Jobs, Pablo Picasso, ” Branson’s, you’re, who’ve Organizations: Virgin Group, NBC News, University of Life, Virgin, Branson, “ Locations: blackboards

☆ Stock market today: Indexes rally on China stimulus, promising labor-market data
▼ + stars: | 2024-09-26 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +3 min

Indexes rallied Thursday on positive jobs data and promises of further economic stimulus in China. AdvertisementUS stocks rallied on Thursday, fueled by China stimulus measures and positive jobs data to pare losses from yesterday. The indexes rallied after leaders in China pledged to support the economy with more strong policy measures. The indexes' gains were also fueled by positive labor market data. Meanwhile, second-quarter GDP came in unrevised at a 3% annualized rate, according to data released Thursday.

Persons: —, Eric Jackson, SocGen Organizations: Service, Labor Department, Federal Reserve Locations: China, unrevised

☆ Hedge fund billionaire David Tepper says he's loading up on Chinese stocks after the nation's stimulus bazooka
▼ + stars: | 2024-09-26 | by ( Matthew Fox | ) www.businessinsider.com time to read: +5 min

David Tepper is growing even more bullish on Chinese stocks amid the nation's new fiscal stimulus measures. Tepper views China's stock market as more attractive than the US stock market due to valuation differences. AdvertisementIt's a buy "everything" moment for Chinese stocks after the country launched a fiscal stimulus bazooka this week, according to billionaire investor David Tepper. But Tepper believes Chinese stocks have plenty of room to run higher, even after the recent surges. On US markets, Tepper said he is not following his buy "everything" mantra with Chinese stocks and is being more selective in buying US stocks.

Persons: David Tepper, Tepper, —, Pan Gongsheng, Donald Trump, he's Organizations: Service, CNBC, Fed, Federal, People's Bank of China, PDD Holdings, Tencent Holdings, Management, Wynn Resorts, Vegas Sands, Baidu, China Internet Locations: China, Vegas

☆ Banerji: We're seeing people grow more optimistic... turbocharged after that jumbo rate cut by the Fed
▼ + stars: | 2024-09-25 | 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 EmailBanerji: We're seeing people grow more optimistic... turbocharged after that jumbo rate cut by the FedGunjan Banerji, Lead Writer for Markets Live at The Wall Street Journal, notes that investors are currently calm and not overly concerned about potential risks, despite geopolitical tensions and the upcoming elections.

Organizations: Wall Street

☆ Stock market today: Dow, S&P 500 drop as rally loses steam ahead of fresh economic data
▼ + stars: | 2024-09-25 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Markets are bracing for the latest GDP revision, jobless claims, and PCE inflation data in the coming days. Traders are still pricing in considerable rate cuts well into next year, per the CME FedWatch tool. AdvertisementUS stocks were mostly lower on Wednesday, ending a record-setting streak of gains as traders looked ahead to coming economic data. The Dow Jones Industrial Average fell nearly 300 points and the S&P 500 slipped from record highs, ending the day about 0.2% lower. Traders are still expecting steep rate cuts over the course of the next year.

Persons: —, Scott Wren, Wells Organizations: Traders, Service, Dow Jones, Nasdaq, Treasury, US, Micron Technologies, Micron Locations: Wells Fargo, East, Ukraine

☆ Fed Governor Bowman explains dissent on rate vote, says she’s worried about inflation
▼ + stars: | 2024-09-24 | 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: +3 min

Federal Reserve Governor Michelle Bowman said Tuesday she thought her colleagues should have taken a more measured approach to last week’s half percentage point interest rate cut as she worries that inflation could reignite. In explaining her rationale, Bowman said the half percentage point, or 50 basis point, reduction posed a number of risks to the Fed’s twin goals of achieving low inflation and full employment. Though Bowman favored a reduction, she preferred the Fed lower by a quarter percentage point, more in line with the traditional moves at the central bank. In recent statements, Fed officials have cited easing inflation and a softening labor market as justification for the cut. At last week’s meeting, individual policymakers indicated they expect another half percentage point in cuts this year and another full point in 2025.

Persons: Michelle Bowman, Bowman, ” Organizations: Federal Locations: Kentucky

☆ Fed Governor Bowman explains dissent on rate vote, says she's worried about inflation
▼ + stars: | 2024-09-24 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

Federal Reserve Governor Michelle Bowman said Tuesday she thought her colleagues should have taken a more measured approach to last week's half percentage point interest rate cut as she worries that inflation could reignite. In explaining her rationale, Bowman said the half percentage point, or 50 basis point, reduction posed a number of risks to the Fed's twin goals of achieving low inflation and full employment. Though Bowman favored a reduction, she preferred the Fed lower by a quarter percentage point, more in line with the traditional moves at the central bank. In recent statements, Fed officials have cited easing inflation and a softening labor market as justification for the cut. At last week's meeting, individual policymakers indicated they expect another half percentage point in cuts this year and another full point in 2025.

Persons: Michelle Bowman, Bowman Organizations: Federal Locations: Kentucky

☆ U.S. on track for a soft landing after Fed’s jumbo interest rate cut, Goldman CFO says
▼ + stars: | 2024-09-24 | 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 EmailU.S. on track for a soft landing after Fed’s jumbo interest rate cut, Goldman CFO saysDenis Coleman, chief financial officer at Goldman Sachs, discusses the U.S. economic outlook and the Federal Reserve’s recent move to deliver a jumbo interest rate cut.

Persons: Goldman, Denis Coleman, Goldman Sachs

☆ JPMorgan CEO Jamie Dimon warns 'geopolitics is getting worse'
▼ + stars: | 2024-09-24 | by ( Dylan Butts | ) www.cnbc.com time to read: +2 min

Jamie Dimon, Chairman and Chief Executive officer (CEO) of JPMorgan Chase & Co. (JPM) speaks to the Economic Club of New York in Manhattan in New York City, U.S., April 23, 2024. A year after Jamie Dimon named geopolitics as the world's biggest risk, JPMorgan Chase's CEO sounded the alarm again, warning that the state of global stability has gotten worse. During his visit to India, Dimon said in an exclusive interview with CNBC-TV18 released Tuesday: "My caution is all geopolitics, which may determine the state of the economy." "Geopolitics is getting worse, they are not getting better. The interview came almost a year after Dimon had called geopolitics, after Russia's invasion in Ukraine, the biggest risk that he sees facing the world, larger than high inflation or a U.S. recession.

Persons: Jamie Dimon, Dimon, Yemen's, I'm Organizations: JPMorgan Chase & Co, Economic, of New, JPMorgan, CNBC, TV18, ., Federal Reserve, Traders Locations: of New York, Manhattan, New York City, U.S, India, Red, Ukraine, Russia

☆ Stock market today: Indexes add to records as traders parse more economic data and Fed comments
▼ + stars: | 2024-09-24 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

Investors are parsing through data and Fed commentary to determine future rate cuts. On Tuesday, Fed Governor Michelle Bowman explained why she dissented against a deep cut in September. Go to newsletter preferences Thanks for signing up! Both indexes closed at all-time highs on Monday amid rising outlooks that the Federal Reserve will deliver another half-point interest rate cut in November. To better understand where monetary policy may be headed after the Fed's first rate cut in four years, investors are tuning into Fed commentary and parsing through incoming data.

Persons: Michelle Bowman, —, dovish, Michelle Bowman's, Bowman Organizations: Service, Dow Jones Industrial, Federal Reserve, Fed, Richmond, Here's Locations: Kentucky

☆ Fed's jumbo interest rate cut puts the U.S. on track for a soft landing, Goldman CFO says
▼ + stars: | 2024-09-24 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +1 min

The Federal Reserve's move to lower interest rates by 50 basis points puts the U.S. economy on track for a soft landing, according to Goldman Sachs ' chief financial officer. His comments come as market participants question whether the U.S. central bank's jumbo rate cut has been delivered in time to bring down inflation without pushing the economy into recession. Some analysts have raised concerns about the outlook for the U.S. economy, warning that similar supersized rate cuts couldn't avert the recessions of the early 2000s and the global financial crisis. One basis point equals 0.01%. It was the first time the FOMC had cut by that much since the early days of the coronavirus pandemic, and, before that, the global financial crisis in 2008.

Persons: Goldman Sachs Locations: U.S

☆ Economic conditions are 'nearly perfect' and the Fed has engineered a 'miraculous' achievement, Evercore founder says
▼ + stars: | 2024-09-23 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

In a Monday-morning appearance on CNBC, Evercore founder Roger Altman praised the Fed for delivering "nearly perfect" economic conditions, citing strength in equities, profits, and employment. Only inflation — which still hovers above the Fed's 2% target rate — is holding off an official soft landing declaration, he said. AdvertisementAlthough there are some concerns rate cuts will reignite inflation, Altman is expecting to see a slowdown this week when new consumption-expenditures data is released. Related stories"I think what essentially happened was that the Fed saw the path on inflation steadily downward as more certain than the path on labor markets, a little more uncertainty about labor markets," Altman said. "So it took a stronger step to fortify labor markets, and went for 50."

Persons: —, Roger Altman, Powell, Altman, Larry Summers Organizations: Service, CNBC, Business, Fed

☆ Treasury yields nudge higher as investors assess growth outlook
▼ + stars: | 2024-09-23 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

Yields and prices move in opposite directions. One basis point is equivalent to 0.01%. The 10-year Treasury yield was up just over a basis point at 3.745% at 3:41 a.m. U.S. Treasury yields were slightly higher early Monday as investors assessed the growth outlook following the Federal Reserve's jumbo rate cut last week. The 10-year Treasury yield ended last week almost 8 basis points higher after the Fed lowered rates by half a percentage point on Wednesday.

Persons: Jerome Powell, Raphael Bostic, Neel Kashkari, Austan Goolsbee, Adriana Kugler Organizations: U.S, Treasury, Federal Locations: U.S

☆ CNBC Daily Open: Some aren’t convinced of a soft landing
▼ + stars: | 2024-09-23 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

Stephanie Keith | 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. In terms of financial markets, financial firm BTIG sees a possible pullback. Last week's burst of euphoria was mostly driven by anticipation and celebration of the Fed's rate cut. Markets this week will look at the hard data coming out, like GDP figures for the second quarter, consumer confidence and PCE report.

Persons: Stephanie Keith, It's, Piper Sandler, Nancy Lazar, Lazar, BTIG, Jonathan Krinsky, –, Alex Harring, Hakyung Kim, Brian Evans Organizations: New York Stock Exchange, CNBC, Friday, FedEx, Nasdaq, Dow Locations: New York City

☆ CNBC Daily Open: Recession concerns still linger
▼ + stars: | 2024-09-23 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

Brendan McDermid | ReutersThis 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. In terms of financial markets, financial firm BTIG sees a possible pullback. Last week's burst of euphoria was mostly driven by anticipation and celebration of the Fed's rate cut. Markets this week will look at the hard data coming out, like the preliminary measure of PMI, consumer confidence and PCE report.

Persons: QCOM, Brendan McDermid, It's, Piper Sandler, Nancy Lazar, Lazar, BTIG, Jonathan Krinsky, –, Alex Harring, Hakyung Kim, Brian Evans Organizations: New York Stock Exchange, Reuters, CNBC, Friday, FedEx, Nasdaq, Dow, PMI Locations: New York City, U.S

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