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☆ European stocks set for mixed open as markets await U.S. inflation data
▼ + stars: | 2024-09-11 | by ( Holly Ellyatt | ) www.cnbc.com time to read: 1 min

Shoppers at a Walmart store in Secaucus, New Jersey, U.S., in March 2024. LONDON — European stocks are expected to open in mixed territory on Wednesday as global markets focus on the latest U.S. inflation data set to be released later in the day. The U.K.'s FTSE index is seen opening 4 points higher at 8,208, Germany's DAX up 25 points at 18,304, France's CAC 40 flat at 7,404 and Italy's FTSE MIB up 66 points at 33,259, according to data from IG. Traders have their eyes on two key economic reports out of the U.S. this week, with the consumer price index report for August due Wednesday, followed by the producer price index on Thursday. The data comes before a widely anticipated interest rate cut at the Federal Reserve's Sept. 17-18 meeting that could help assuage concerns over a weakening U.S. economy.

Persons: Germany's DAX Organizations: Walmart, LONDON, CAC, IG, Traders, Federal Locations: Secaucus , New Jersey, U.S

☆ Steve Eisman of 'Big Short' fame not worried about banks or economy
▼ + stars: | 2024-09-11 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

Steve Eisman of "The Big Short" fame said he's unfazed by the weakness in bank stocks as well as any uncertainty around the Federal Reserve's next easing cycle. To Eisman, there's nothing to worry about. Eisman shot to fame by shorting collateralized debt obligations to profit from the demise of subprime mortgage loans before the 2008 financial crisis. Wednesday's data showed the consumer price index , a broad measure of goods and services costs across the U.S. economy, increased 0.2% in August , in line with the Dow Jones consensus. The economy Concerns about lower-income consumers have also increased recently, but Eisman said they are not indicative of a systemic issue endangering the wider economy.

Persons: Steve Eisman, he's, Neuberger Berman, shorting, Michael Lewis's, Eisman, Dow Jones Organizations: Federal, JPMorgan, Ally Financial, Dollar Locations: U.S

☆ Treasury yields rise ahead of final inflation prints before Fed meeting
▼ + stars: | 2024-09-10 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

One basis point is equivalent to 0.01%. The yield on the 10-year Treasury was 2 basis points higher at 3.721%, with the 2-year Treasury yield also up by 2 basis points at 3.691%. Treasury yields rose early Tuesday ahead of the final major inflation prints before the Federal Reserve's September meeting. Treasury yields have stablized after tumbling through last week when a series of labor market releases missed estimates. Debate has erupted over whether the Fed could opt for a 50 basis point rather than a 25 basis point interest rate cut during the Sept. 17-18 meeting.

Organizations: Treasury, Investors Locations: July's

☆ Jamie Dimon says 'the worst outcome is stagflation,' a scenario he's not taking off the table
▼ + stars: | 2024-09-10 | by ( Sarah Min | ) www.cnbc.com time to read: +1 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. JPMorgan Chase CEO Jamie Dimon said Tuesday he wouldn't rule out stagflation, even with greater confidence recently that inflation is coming off its highs. "I would say the worst outcome is stagflation — recession, higher inflation," Dimon said at a fall conference from the Council of Institutional Investors in Brooklyn, New York. "And by the way, I wouldn't take it off the table." In August, he said the odds of a "soft landing" were around 35% to 40%, implying a recession is the more likely outcome.

Persons: Jamie Dimon, JPMorgan Chase, Dimon Organizations: JPMorgan Chase & Co, Economic, of New, JPMorgan, of Institutional Investors Locations: of New York, Manhattan, New York City, U.S, Brooklyn , New York

☆ The possibility of stagflation hitting the US economy isn't off the table, JPMorgan chief Jamie Dimon says
▼ + stars: | 2024-09-10 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +1 min

JPMorgan Chase CEO Jamie Dimon said the worst outcome for the US economy is stagflation. Speaking at a Tuesday conference, Dimon said he "wouldn't take it off the table." Go to newsletter preferences Thanks for signing up! AdvertisementEven as inflation approaches the Federal Reserve's target, JPMorgan Chase CEO Jamie Dimon says stagflation is still a possibility. "I would say the worst outcome is stagflation — recession, higher inflation," Dimon said.

Persons: Jamie Dimon, Dimon, —, stagflation Organizations: JPMorgan, Service, of Institutional, CNBC, Business

☆ Watch CNBC's full interview with Barclays CEO C.S. Venkatakrishnan
▼ + stars: | 2024-09-10 | 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 EmailWatch CNBC's full interview with Barclays CEO C.S. VenkatakrishnanC.S. Venkatakrishnan, Barclays CEO, joins CNBC's 'Money Movers' to discuss Barclays three-year plan, his reaction to the Federal Reserve's newly unveiled regulation proposal, and more.

Persons: Venkatakrishnan Organizations: Barclays, C.S, Federal Locations: Venkatakrishnan

☆ Stock market today: Indexes end mixed as investors brace for August inflation report
▼ + stars: | 2024-09-10 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

Investors are waiting for the consumer price report on Wednesday. JPMorgan led a slide in bank stocks after easing its earnings optimism. AdvertisementUS stocks ended mixed Tuesday ahead of the August consumer price index report due out Wednesday morning. Most investors anticipate a 25 basis point rate cut, but any shock in the inflation data could shift that outlook in favor of a steeper cut. Ahead of each report, Tuesday's presidential debate between Donald Trump and Kamala Harris could also sway markets.

Persons: Dow, —, Donald Trump, Kamala Harris Organizations: JPMorgan, Service, Nasdaq, Ally Locations: Here's

☆ What Trump and Harris’ economic proposals mean for you
▼ + stars: | 2024-09-10 | by ( Elisabeth Buchwald | Matt Egan | ) edition.cnn.com time to read: +9 min

Here’s a look at what could happen to inflation, jobs and the deficit if Trump or Harris win in November. That, among other things, would keep the top tax rate individuals pay at 37% compared to 39.6% before it went into effect. Meanwhile, the tax proposals Harris has put forth so far mostly involve imposing higher taxes, which would have a positive impact on the deficit. For instance, she’s endorsed raising the top individual income tax rate to 44.6% and the top long-term capital gains tax rate to 28% versus the current 20%. Taken together, the Penn Wharton Budget model estimates Harris’ proposals could increase the deficit by an additional $1.2 trillion by 2034.

Persons: Kamala Harris, Donald Trump, Harris, Goldman Sachs, Trump, Warwick McKibbin, Goldman, she’s, ”, Justin Wolfers, Kevin Dietsch, He’s, Elon Musk, She’s, Joshua Gotbaum Organizations: New, New York CNN, Labor Department, Trump, Peterson Institute for International Economics, Gross, University of Michigan, CNN, Federal Reserve, Treasury Department, Wharton Budget, Social Security, Penn, Wharton Budget Model, Penn Wharton Budget, Brookings Institution Locations: New York, United States, Penn

☆ UBS trader turns bearish for next two months, worried about a 'large unwind'
▼ + stars: | 2024-09-10 | by ( John Melloy | ) www.cnbc.com time to read: +2 min

"I am tactically bearish for the next 2 months," wrote Rebecca Cheong, head of Americas equity derivatives strategy for UBS, in a note. The S & P 500 rapidly rebounded, though, making back most of the losses and approaching a new high once again. .SPX YTD mountain S & P 500, YTD And September has gotten off to a sour start with the S & P 500 down four of the first five trading days. Other reasons that make the trader bearish: UBS clients have sold stocks 11 of the last 12 days. Cheong suggested hedges that would pay off if the S & P 500 is down 10% in one month and 15% in two months.

Persons: Rebecca Cheong, Cheong Organizations: UBS, Nvidia, Global, Tech, Federal, U.S

☆ Stock futures are little changed as traders brace for August consumer inflation report: Live updates
▼ + stars: | 2024-09-10 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +2 min

U.S. stock futures were little changed Tuesday night ahead of the August consumer inflation report due Wednesday morning. S&P 500 futures and Nasdaq 100 futures both dipped 0.1%. Traders are anticipating a key economic report Wednesday morning: August's consumer price index. The CPI report and Thursday's producer price index could help determine the size of a widely expected rate cut at the end of the Federal Reserve's two-day meeting on Sept. 18. Fed funds futures trading suggests a 69% chance of a 25-basis-point rate cut and a 31% likelihood of a 50-basis-point reduction, according to CME's FedWatch Tool.

Persons: Dow, Dow Jones, CME's, Kristina Hooper, Hooper Organizations: Dow Jones Industrial, Nasdaq, GameStop, U.S . Securities, Exchange Commission, Nvidia, JPMorgan, CPI, Federal

☆ Top banking analyst Mayo says Citi shares can double over the next 2-and-a-half years
▼ + stars: | 2024-09-10 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +1 min

Wells Fargo bank analyst Mike Mayo highlighted Citigroup stock as his favorite bank name on Tuesday while speaking on CNBC's " Squawk on the Street ." Shares of Citigroup could double over the next two-and-a-half years "simply by going back to tangible book value," Mayo said. Citigroup sold for 73% of tangible book at the end of June, up from 60% at the end of last December, according to FactSet data. "Even after running this model, banks still have plenty of excess capital to support the economy," Mayo noted. "Recession or no recession; higher rates or lower rates … whatever hits you, I think banks are able to weather it quite well now."

Persons: Mike Mayo, Mayo, Jane Fraser Organizations: Citigroup, Federal Reserve, UBS, Lehman Brothers, Credit Suisse, Prudential, Deutsche Bank, Federal Locations: Wells Fargo, . U.S

☆ Barclays CEO on growth targets: We expect investors to continue to appreciate what we're doing
▼ + stars: | 2024-09-10 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBarclays CEO on growth targets: We expect investors to continue to appreciate what we're doingC.S. Venkatakrishnan, Barclays CEO, joins CNBC's 'Money Movers' to discuss Barclays three-year plan, his reaction to the Federal Reserve's newly unveiled regulation proposal, and more.

Organizations: Barclays, Federal Locations: Venkatakrishnan

☆ Goldman says watch out for more drawdowns, but the risk of a bear market is still low
▼ + stars: | 2024-09-10 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

For investors who just weathered a bout of summer turbulence, Goldman Sachs said expect more patchiness in stocks, but believes the bull market will remain intact. "However, we think the risk of a bear market remains low with relatively low recession risk, helped by a healthy private sector and central bank easing." The stock market benchmark has since recouped much of the losses, recently trading some 3.4% below its July 16 all-time high. A bear market represents at least a 20% decline from the S & P 500's record high, while even a correction would amount to a 10% drawdown. … Encouragingly, though … we are not staring at a severe slowdown," Bank of America said in a note to clients on Tuesday.

Persons: Goldman Sachs, Christian Mueller, Goldman, Mueller, Glissmann, … Organizations: U.S, Bank of America, Federal Reserve Locations: U.S

☆ No recession in sight despite weakening labor market: iCapital's Anastasia Amoroso
▼ + stars: | 2024-09-10 | 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 EmailNo recession in sight despite weakening labor market: iCapital's Anastasia AmorosoAnastasia Amoroso, iCapital chief investment strategist, joins 'Squawk Box' to discuss if she is still worried about inflation, which of the Federal Reserve's moves would be seen as positive, and much more.

Persons: iCapital's Anastasia Amoroso Anastasia Amoroso

☆ Deep rate cuts are necessary because the Fed's unprecedented hikes actually made inflation worse, Nobel-winning economist says
▼ + stars: | 2024-09-06 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

The Nobel-prize-winning economist called on the central bank to cut interest rates by 50 basis points at its approaching policy meeting. AdvertisementFriday's weaker-than-expected reading did not completely ease concerns, putting pressure on the Fed to ease policy quickly. But Stiglitz, speaking ahead of the data's release, told CNBC that he would pursue deeper rate cuts regardless of Friday's report. Builder confidence also tanked to a December bottom, though experts anticipate that falling interest rates should eventually boost sentiment. AdvertisementMeanwhile, homebuyers appear sidelined as they wait for interest rate cuts to ease mortgage rates.

Persons: —, Joseph Stiglitz, Stiglitz, homebuyers Organizations: Service, CNBC, Business

☆ Dick's Sporting Goods blows past earnings estimates but issues cautious guidance ahead of 2024 election
▼ + stars: | 2024-09-04 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +4 min

For fiscal 2024, Dick's is now expecting diluted earnings per share to be between $13.55 and $13.90, up from previous guidance of $13.35 to $13.75 per share. At the midpoint, Dick's only raised its earnings guidance by about 18 cents, even though its fiscal second-quarter earnings came in 54 cents higher than expected. At the low end, Dick's earnings guidance falls a bit short of the $13.79 that analysts had expected, according to LSEG. Dick's maintained its sales guidance of $13.1 billion to $13.2 billion, which also fell flat compared with the $13.24 billion that analysts were looking for, according to LSEG. Dick's is slated to discuss its results with analysts and share more insights on its guidance at 8 a.m.

Persons: Lauren Hobart, Dick's, didn't, Walmart –, there's Organizations: Sporting Goods, LSEG, Target, Walmart, Federal

☆ Increased sausage demand could be worrying signal on the economy
▼ + stars: | 2024-08-26 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

An uptick in sausage demand can offer the latest sign of consumers tightening their belts as they continue grappling with high prices. There has been "modest growth" in the dinner sausage category for one producer, according to the Dallas Federal Reserve's Texas Manufacturing Outlook Survey released Monday. "This category tends to grow when the economy weakens," the respondent said, according to edited comments included in the Dallas Fed's report. That is because "sausage is a good protein substitute for higher-priced proteins and can 'stretch' consumers' food budgets." This anecdote pointed out by eagle-eyed Bespoke Investment Group on social media site X comes as grocery prices remain top of mind for consumers.

Persons: Fred Meyer Organizations: Dallas Federal, Texas Manufacturing, Dallas Locations: Kroger, Palmer , Alaska, An

☆ Trading Fed rate cuts: These banks are primed to outperform when rates fall, Evercore ISI says
▼ + stars: | 2024-08-24 | by ( Pia Singh | In | ) www.cnbc.com time to read: +2 min

A few well-known regional banks are poised to benefit from the Federal Reserve's upcoming interest rate cuts, according to Evercore ISI. Fed Chair Jerome Powell indicated on Friday that the central bank is ready for interest rate cuts ahead , although he declined to provide the exact timing or extent of the cuts. As investors await the Fed's moves, Evercore ISI used its updated asset/liability committee scenarios and several banks' net interest income commentary to find which names appear strongest in a lower interest rate environment. According to the note, Comerica, U.S. Bancorp and Fifth Third each forecast two interest rate cuts this year. Comerica shares dipped more than 10% on July 19 after the company posted its second-quarter results.

Persons: Jerome Powell, John Pancari, Pancari, Curtis Farmer, Truist Organizations: Federal, ISI, Comerica, Truist Financial, U.S . Bancorp, Fifth Third Bancorp, FactSet Locations: U.S

☆ Why dividend stocks should be a hot play into fall
▼ + stars: | 2024-08-24 | by ( Ellie Stevens | ) www.cnbc.com time to read: +2 min

It appears more investors are eyeing dividend stocks ahead of the Federal Reserve's interest rate decision in September. Paul Baiocchi of SS&C ALPS Advisors thinks it is a sound strategy because he sees the Fed easing rates. ALPS is the issuer of several dividend exchange-traded funds including the ALPS O'Shares U.S. Quality Dividend ETF (OUSA) and its counterpart, the ALPS O'Shares U.S. Small-Cap Quality Dividend ETF (OUSM). Relative to the S&P 500 , both dividend ETFs are overweight health care, financials and industrials , according to Baiocchi. Mike Akins, ETF Action's founding partner, views OUSA and OUSM as defensive strategies because the stocks generally have clean balance sheets.

Persons: Paul Baiocchi, CNBC's, Baiocchi, Mike Akins, OUSA, Akins Organizations: C Locations: U.S

☆ Why Black men's job situation is worse than it looks
▼ + stars: | 2024-08-24 | by ( Jacob Zinkula | Madison Hoff | ) www.businessinsider.com time to read: +10 min

That means that the tens of thousands of Black men who are incarcerated aren't being included in these calculations, effectively boosting the Black male employment rate. As of July, the BLS estimated a there were 16.2 million US Black men in the noninstitutional population, compared to 18.8 million Black women. AdvertisementThe bottom line: If the survey data had a more complete picture of Black men, Holzer said the Black male employment rate would likely be "considerably worse." Education differences and discrimination can work against Black menEducation is one factor that can help explain the lower employment rate of Black men, Wilson said. A strong job market and workforce development programs could drive progressThere are several things that might help get more Black men into the workforce.

Persons: —, there's, it's, Harry Holzer, aren't, Holzer, Valerie Wilson, Wilson, Jared, Black, didn't, weren't, " Holzer Organizations: Service, Business, Georgetown University, US Department of Labor, Pew, BLS, Black, University of California, University of Chicago, BI, Harvard, Stanford, Initiative Locations: Berkeley

☆ Is Nvidia's earnings report really make or break? Here's why we don't think so
▼ + stars: | 2024-08-23 | by ( Zev Fima | ) www.cnbc.com time to read: +10 min

While expectations are high and caution is certainly warranted, we don't think it's quite that simple. While the Oscillator and Williams' work do point to possible selling pressure ahead, we don't want to get too bearish. However, we don't think the risks are so elevated as to warrant more than a small cash raise. We still view Nvidia as an "own it, don't trade it" stock, but we also don't keep our heads in the sand. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Jim Cramer, Larry Williams, Williams, Jim, Estee Lauder, Morgan Stanley, hasn't, they've, We're, Jim Cramer's, Dominika Organizations: Nvidia, Club, Abbott Laboratories, Federal, Blackwell, Apple, Microsoft, Super Six, Jim Cramer's Charitable, CNBC, Nurphoto, Getty Locations: Williams

☆ Bank of England's Bailey: 'More restrictive policy' could still be needed due to labor market shocks
▼ + stars: | 2024-08-23 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

Andrew Bailey, governor of the Bank of England, waits to deliver a lecture at the London School of Economics in London, UK, on Tuesday, May 21, 2024. Bank of England Governor Andrew Bailey will hail the progress made in dampening inflation in the U.K. in a Friday speech, but also caution that monetary policy may need to remain restrictive for longer than expected due to shocks from the labor market. Headline price rises in the U.K. hit the BOE's 2% target for two months this year, before rising to 2.2% in July. However, he will caution that two less "benign" scenarios remain possible that will require the Bank of England to "maintain restriction for longer." It comes after Federal Reserve Chair Jerome Powell on Friday gave his firmest comments yet indicating that interest rate cuts lie ahead for the world's biggest central bank, stating: "The time has come for policy to adjust."

Persons: Andrew Bailey, Bailey, Jerome Powell Organizations: Bank of England, London School of Economics, U.S, Bank of Locations: London, U.S . Federal, Jackson Hole , Wyoming, Bank of England

☆ Consumer spending jumped in July as retail sales were up 1%, much better than expected
▼ + stars: | 2024-08-15 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

watch nowConsumer spending held up even better than expected in July as inflation pressures showed more signs of easing, the Commerce Department reported Thursday. Advanced retail sales accelerated 1% on the month, according to numbers that are adjusted for seasonality but not inflation. Excluding auto-related items, sales increased 0.4%, also better than the 0.1% forecast. Miscellaneous retailers saw a plunge of 2.5% while gas stations saw receipts climb just 0.1% and clothing stores were down 0.1%. There was one counterpoint to that in another data release Thursday in which the Labor Department said import prices increased 0.1% in July, slightly ahead of the forecast for no change.

Persons: Dow Jones, Richard de Chazal, William Blair Organizations: Commerce Department, Stock, Labor Department

Economists like to say the cure for high prices is high prices. In other words, consumers eventually start to hold back on spending when they are faced with increasing costs. On Monday, the New York Federal Reserve reported that consumers' three-year inflation outlook hit a record low. Many economists credit the Federal Reserve's decision to raise interest rates starting in the spring of 2022 with helping to curb the upswing. It is that last factor that the Federal Reserve is keenly focused on.

Persons: “, Andrew Jassy, Wells Fargo, Mark Hamrick, ” Organizations: of Labor Statistics, Federal Reserve's, New York Federal Reserve, Federal, Fed, BLS, Gallup, Federal Reserve Locations: U.S, York

☆ Why you shouldn't worry about the job market and a recession just yet
▼ + stars: | 2024-08-14 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +6 min

Read previewThe labor market is trending in the wrong direction, but it might not be time to sound the alarm just yet. The unemployment rate has risen for four consecutive months and at 4.3%, it's the highest it's been in nearly three years. However, there are some reasons it might be too soon to freak out about the labor market. AdvertisementSatyam Panday, chief US economist for S&P Global Ratings, said in a note published on August 6 that the slowing labor market appears to suggest a "normalization" of a previously red-hot labor market, rather than an "economy that's about to slip into a recession." The labor market might get worseTo be sure, there are plenty of reasons to remain concerned about the state of the labor market.

Persons: —, there's, it's, Goldman Sachs, David Mericle, Manuel Abecasis, they've, It's, Goldman Sachs that's, Satyam Panday, Michael Gapen, JP Morgan, Claudia Sahm Organizations: Service, Federal Reserve, Business, Bureau of Labor Statistics, Labor Department, Federal, Satyam, Bank of America, Federal Reserve Bank of San Francisco, New Century Advisors Locations: US

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