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☆ Why Japanese stocks just had their worst day in 4 years
▼ + stars: | 2024-08-02 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +3 min

The Japanese government raised rates on Wednesday, breaking from its historically dovish stance. The drop comes just two days after the Bank of Japan raised interest rates in an effort to boost the yen's value amidst higher inflation. The BoJ raised rates from a range of 0% to 0.1% to a benchmark 0.25%. The bank raised interest rates for the first time in 17 years back in March, ending its negative interest-rate policy. Others add that, as the market prices in the rate hikes, it will adjust accordingly.

Persons: —, Kazuo Ueda Organizations: Nikkei, Service, Bank of, Bank of Japan, Intel, Bank of America, JPMorgan Locations: Tokyo

☆ European stocks to extend declines after Bank of England rate cut as global sentiment sours
▼ + stars: | 2024-08-02 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

Boris Roessler | Picture Alliance | Getty ImagesLONDON — European stocks were set to open lower Friday, extending losses amid a global downturn as a busy week of market action draws to a close. Germany's DAX was on course to open 104 points lower at 17,984, according to IG data, with France's CAC 40 down 40 points at 7,325. The regional Stoxx 600 index on Thursday suffered its worst session since mid-June, pulled down by financials as French bank Societe Generale downgraded its outlook and the Bank of England cut interest rates for the first time since 2020. The central bank decision took its key interest rate to 5% from 5.25%, in a move that markets had not been fully convinced it would carry out. Asia-Pacific markets saw steep losses Friday, with Japan's benchmark indexes tanking as much as 5%.

Persons: Boris Roessler, Germany's DAX, BOE Governor Andrew Bailey, BOE, Joe Tuckey Organizations: Getty, France's CAC, Societe Generale, Bank of England, CNBC, Argentex, U.S . Federal Reserve, Bank of, Apple, Intel, U.S . Bureau of Labor Statistics Locations: Frankfurt, Bank of Japan, Europe, Asia, Pacific

☆ Here's what usually happens to UK stocks when the Bank of England cuts interest rates
▼ + stars: | 2024-08-01 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

The U.K. stock market is likely to rise over the course of 12 months, if the Bank of England cuts interest rates on Thursday and history repeats itself, according to a CNBC Pro analysis. Economists say the forecasts for whether the U.K. central bank will either reduce or hold rates are a close call. A decision to lower interest rates — which sit at at 5.25% currently — would mark the first time monetary police has been eased in Britain since the hiking cycle began in December 2021. The analysis found that, on three occasions the index had risen more than 20% on average within a year after an interest rate cut. For instance, the domestically focused index of 250 stocks rose by 17% across three months after the Bank of England cut rates in 1998.

Persons: Agne Stengeryte, BoE, Nora Szentivanyi Organizations: Bank of England, CNBC, CNBC Pro, Bank of, Bank, America's, Barclays Locations: Britain, Bank of England

☆ The Fed is about to give more clues as to when it will finally start cutting rates
▼ + stars: | 2024-07-31 | by ( Bryan Mena | ) edition.cnn.com time to read: +4 min

Fed officials in recent speeches have said they’re pleased with the latest inflation data, acknowledging the steady progress but saying they’re not quite fully comfortable yet with slashing rates. “We set this rate when inflation was over 4%, and inflation is now, let’s call it, 2.5%. He has said that an unexpected weakening in the labor market would prompt the Fed to consider cutting rates sooner than expected. Economic growth in 2024 has been solid so far, despite the highest interest rates in nearly a quarter century. But the Fed’s decision to cut rates will be mainly based on inflation readings, absent any concerning news about the job market.

Persons: they’re, Christopher Waller, Austan Goolsbee, “, Goolsbee, Loretta Mester, Jerome Powell’s, ” Kathleen Grace, Waller, ” Powell, Powell Organizations: Washington CNN, Federal, Fed, Chicago Fed, Wall Street, Cleveland Fed, CNN, Labor

☆ Stock market today: Nasdaq surges nearly 3% amid chip rally, dovish Fed comments
▼ + stars: | 2024-07-31 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

Central bankers said they had more confidence inflation was back on track to 2%. Markets are pricing in a 100% chance of a rate cut in September, per the CME FedWatch tool. AdvertisementUS stocks surged on Wednesday, driven by a rally in the tech sector and dovish comments from the Federal Reserve. The second quarter's inflation readings have added to our confidence, and more good data would further strengthen that confidence," Fed Chair Powell said in prepared remarks. Markets are now pricing in with certainty that the Fed will cut rates in September, according to the CME FedWatch tool.

Persons: —, Powell, Philip Straehl, Morgan Stanley Organizations: Fed, Service, Federal Reserve, Nasdaq, Morningstar Wealth, AMD, Nvidia

☆ Fed should've cut today, says DoubleLine's Jeffrey Gundlach
▼ + stars: | 2024-07-31 | 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 should've cut today, says DoubleLine's Jeffrey GundlachJeffrey Gundlach, DoubleLine Capital CEO, joins 'Closing Bell' to discuss the Fed rate decision and Chair Powell's dovish comments.

Persons: DoubleLine's Jeffrey Gundlach Jeffrey Gundlach, Powell's Organizations: DoubleLine

☆ Stocks will rally 5% in just 5 days after the Fed's rate decision this week, Fundstrat says
▼ + stars: | 2024-07-31 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

The rally would be sparked by a dovish Fed FOMC meeting on Wednesday that all but confirms imminent interest rate cuts. "These are significant gains, implying the S&P 500 could gain 200-300 points in the next week," Lee said. "The key premise is the Fed is likely to commit to a September rate cut of at least 25bp. Lee's confidence in a strong rally post-Fed meeting is based on the fact that recent Fed meetings have sparked a big rally in stocks. "Here are some tangible reasons a Fed cut makes sense: 30-year mortgage has excess spread to 10-year due to uncertainty.

Persons: Tom Lee, Lee, — Organizations: Service, Fed, Nasdaq

☆ DoubleLine's Jeffrey Gundlach: There's a lot of room for the Fed to cut short-term interest rates
▼ + stars: | 2024-07-31 | 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 EmailDoubleLine's Jeffrey Gundlach: There's a lot of room for the Fed to cut short-term interest ratesJeffrey Gundlach, DoubleLine Capital CEO, joins 'Closing Bell' to discuss the Fed rate decision and Chair Powell's dovish comments.

Persons: DoubleLine's Jeffrey Gundlach, Jeffrey Gundlach, Powell's Organizations: Fed, DoubleLine

☆ Stock market today: Indexes struggle for direction as investors await wave of data
▼ + stars: | 2024-07-29 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

US stocks closed mixed as investors awaited a wave of data this week, from earnings to the July jobs report. 171 S&P 500 companies, including Apple, Microsoft, and Amazon, will report Q2 earnings this week. AdvertisementUS stock indexes closed mixed on Monday as investors awaited a massive wave of data this week. AdvertisementAmid the steady stream of earnings data, investors will also turn their attention to the Federal Reserve's FOMC meeting on Wednesday. AdvertisementThe jobs report will help inform the Federal Reserve's interest rate policy going forward, as the Fed balances a steady economy with a falling inflation rate.

Persons: —, Jerome Powell, Fawad Razaqzada, Forex.com Organizations: Apple, Microsoft, Service, Federal, Business

☆ Why the Fed won't cut rates until December, according to Bank of America
▼ + stars: | 2024-07-26 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +1 min

The Federal Reserve will wait until December to cut interest rates, Bank of America economists say. The forecast runs counter to consensus, with 90% of investors expecting a first cut in September. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementIn a Thursday research note, Bank of America reiterated its prediction for rate cuts to begin in December, even with a majority of investors expecting one in September. Meanwhile, 90% of investors expect a cut in September, according to the CME FedWatch tool.

Persons: BofA, — Organizations: Federal, Bank of America, Service, Business

☆ Goldman Sachs gets cautious on stocks, sees risk of a late summer correction
▼ + stars: | 2024-07-19 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Goldman Sachs is warning clients of a summer correction in the stock market as economic growth slows down and political risks rise. The S & P 500 is up about 16% year to date, just 2% off its record high. Goldman said it sees increasing risk of a correction. Typically, a correction is defined as a 10% drawdown from a recent high in the S & P 500 and a bear market equals to a 20% pullback. The S & P 500 is currently off 2% from its recent high.

Persons: Goldman Sachs, Christian Mueller, Goldman, Goldman doesn't, pare Organizations: Dow

☆ Sam Stovall sees double-digit correction – says rally gone too far and big caps expensive
▼ + stars: | 2024-07-17 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

The rotation trade likely won't save the S & P 500 from a double-digit correction ahead, according to Sam Stovall, chief investment strategist at CFRA Research. On the other hand, the mega-cap tech stocks have faltered. But Stovall is skeptical, saying he anticipates an S & P 500 pullback ahead, possibly in September, in the low double-digits. Expensive valuations Central to the strategist's concern is the overbought nature of large-cap tech stocks. Rotate into very attractive mid- and small-cap stocks or mid- and small-cap ETFs," Stovall said.

Persons: Sam Stovall, Stocks, Jerome Powell, Russell, Stovall Organizations: CFRA Research, Federal, Nvidia, CNBC Locations: Great

☆ Stock market today: Indexes rise as traders assess earnings and retail sales beat estimates
▼ + stars: | 2024-07-16 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

Bank of America earnings topped estimates, and shares rose early Tuesday. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementUS stocks climbed higher as fresh data indicated that consumers were still spending. Excluding autos, sales rose 0.4% against estimates of a 0.1% increase. In the bond market, the 10-year Treasury yield slid moderately, after comments dovish were made by Federal Reserve Chairman Jerome Powell.

Persons: —, Robert Frick, dovish, Jerome Powell Organizations: Bank of America, Service, Navy Federal Credit Union, Bloomberg, Treasury, Federal

☆ Gold drifts higher as U.S. rate cut optimism boosts appeal
▼ + stars: | 2024-07-16 | by ( ) www.cnbc.com time to read: +2 min

A five hundred gram gold bar, left, and a a one kilogram gold bar, produced by Swiss manufacturer Argor Hebaeus SA, in Budapest, Hungary. Gold prices nudged higher on Tuesday as comments from Federal Reserve Chair Jerome Powell bolstered the case for a September rate cut, while investors awaited more U.S. economic data for further monetary policy cues. Spot gold rose 0.1% to $2,423.89 per ounce by 0140 GMT. A rate cut in September is now fully priced in by markets, which may keep sentiments in gold prices well-supported in the lead-up," said IG market strategist Yeap Jun Rong. Investors were awaiting U.S. retail sales data due at 1230 GMT on Tuesday and comments from Fed governors Christopher Waller and Adriana Kugler later this week for further direction.

Persons: Jerome Powell, Powell, Yeap Jun Rong, Christopher Waller, Adriana Kugler, Yeap Organizations: Argor Hebaeus SA, Federal, Investors, Reuters Locations: Swiss, Budapest, Hungary

☆ Europe heads for mixed open as markets digest Powell's comments on cutting rates
▼ + stars: | 2024-07-16 | by ( Holly Ellyatt | ) www.cnbc.com time to read: 1 min

U.S. Federal Reserve Chair Jerome Powell speaks at a news conference on interest rates, the economy and monetary policy actions on June 15, 2022. LONDON — European stocks are expected to open in mixed territory Tuesday as investors assess the economic and political outlook in the region and beyond. The U.K.'s FTSE index is seen opening 15 points lower at 8,164, Germany's DAX down 19 points at 18,580, France's CAC 40 up 7 points at 7,633 and Italy's FTSE MIB down 31 points at 34,493, according to data from IG. Global markets are digesting dovish comments from U.S. Federal Reserve Chair Jerome Powell in which he said the central bank will not wait until inflation hits 2% to cut interest rates, as the Fed's policy works with "long and variable lags." So, "if you wait until inflation gets all the way down to 2%, you've probably waited too long," he said Monday.

Persons: Jerome Powell, Germany's DAX, you've Organizations: Federal, LONDON, CAC, IG, Global, U.S . Federal Locations: U.S

☆ Gold heads for record high close on view that Fed is poised to cut rates
▼ + stars: | 2024-07-16 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

An employee handles one kilogram gold bullions at the YLG Bullion International Co. headquarters in Bangkok, Thailand, on Friday, Dec. 22, 2023. Gold prices advanced Tuesday, on track for a record close as rising expectations of a September interest rate cut bolstered demand for bullion. Gold futures advanced 0.6% to $2,443.80. According to UBS, central bank buying of bullion is the highest it's been since the late 1960s. The U.S.-listed shares of Harmony Gold and Gold Fields rose 6% and 4%, respectively.

Persons: Jerome Powell, Joni Teves, Teves, Gold Organizations: Co, Federal, U.S, greenback, UBS, Citi, Miners, Harmony Locations: Bangkok, Thailand, Ukraine, China, U.S

☆ Dollar drifts as Powell comments bring September rate cut in focus
▼ + stars: | 2024-07-16 | by ( ) www.cnbc.com time to read: +3 min

The dollar fell slightly on Monday after comments from Federal Reserve Chair Jerome Powell, while cryptocurrencies rose on bets that an assassination attempt on former President Donald Trump lifted his reelection chances. The dollar hung around five-week lows on Tuesday as comments from Federal Reserve Chair Jerome Powell bolstered the case for a rate cut in September, while cryptocurrencies gained on rising odds of former President Donald Trump getting reelected. The comments, likely Powell's last until his press conference following the Fed's July 30-31 meeting, shifted rate cut expectations. Markets are now anticipating 68 basis points of easing this year, with a rate cut in September fully priced in, CME FedWatch tool showed. "Markets may need to wait longer for the confirmation of their September rate cut hopes, and growth and labor data will be on the radar such as retail sales today."

Persons: Jerome Powell, Donald Trump, cryptocurrencies, Powell, We've, Charu Chanana, Trump, Gary Gensler, Chris Weston Organizations: Federal, Economic, of Washington, Saxo, Traders, Bank of Japan, Republican, cryptocurrency, San, SEC, New Zealand Locations: Tokyo, San Francisco

☆ CNBC Daily Open: Trump attends RNC, Dow record close, bitcoin 'digital gold
▼ + stars: | 2024-07-16 | by ( Abid Ali | ) www.cnbc.com time to read: +3 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Dow record highThe Dow Jones Industrial Average closed at an all-time high after former President Donald Trump survived an assassination attempt. Trump lauded at RNCFormer President Donald Trump was cheered and celebrated at the Republican National Convention in Milwaukee, his first appearance since an assassination attempt at a Pennsylvania rally. [PRO] 'Super 8'UBS has updated its "Super 8" list of top Asian tech stocks, seen as alternatives to the US "Magnificent Seven."

Persons: Donald Trump, Russell, Jerome Powell, Trump, JD Vance, Ohio, Elon Musk, Powell, you've, Larry Fink, Fink, bitcoin, CNBC's, Donald Trump's Organizations: CNBC, Dow, Dow Jones, Nasdaq, Treasury, Federal, RNC, Republican National Convention, Sporting, Trump, BlackRock, CSI, Nikkei, UBS Locations: U.S, Milwaukee, Pennsylvania, Asia, Pacific, China, Hong

☆ Europe markets head for higher open as more U.S. inflation data rolls in
▼ + stars: | 2024-07-12 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

Skyscrapers in the La Defense business and financial district in Paris, France, on Monday, June 3, 2024. LONDON — European stocks are set to nudge higher at Friday's open, defying a broader global selloff, with fresh inflation data set to land. Reaction to the historic French and U.K. elections dominated the start of the week, but attention has moved to a flurry of inflation data. On Thursday, the U.S. consumer price index declined more than expected to 3% annually, down from 3.3% in May. The data will be followed up by the U.S. producer price index Friday, while German, French and Italian inflation readings will also be released.

Persons: Germany's DAX, Jerome Powell Organizations: La Defense, LONDON, MIB, CAC, Federal Locations: Paris, France, U.S

☆ Volatile yen keeps markets on edge as intervention risks swirl
▼ + stars: | 2024-07-12 | by ( ) www.cnbc.com time to read: +4 min

A sheet of newly-designed Japanese 10,000 yen banknotes at the National Printing Bureau Tokyo plant in Tokyo, Japan, on Wednesday, June 28, 2023. The Japanese currency swung between gains and losses in early trading before trading slightly weaker. It spiked nearly 3% to as high as 157.40 immediately after the consumer inflation report on Thursday. "Currency interventions should certainty be rare in a floating rate market, but we'll need to respond appropriately to excessive volatility or disorderly moves," Kanda said. Tokyo intervened at the end of April and in early May, spending roughly 9.8 trillion yen ($61.55 billion) to support the currency.

Persons: Masato Kanda, Kanda, It's, Siong Sim, Charu Chanana, Matt Simpson, Menon, Donald Trump, Sterling Organizations: National Printing Bureau, Asahi, Nikkei, Bank of Singapore, U.S, CPI, Saxo, Federal Reserve, City, Traders, Presidential, Trump Locations: National Printing Bureau Tokyo, Tokyo, Japan, U.S

☆ 'Why would you tinker with it if it's not broken?': Economist on why the Fed may not cut rates in September
▼ + stars: | 2024-07-12 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

Jerome Powell, chairman of the US Federal Reserve, during a Senate Banking, Housing, and Urban Affairs Committee hearing in Washington, DC, US, on Tuesday, July 9, 2024. Markets now firmly expect a September interest rate cut in the U.S., but the Federal Reserve has a strong reason to hold off, according to economist Carl Weinberg. Money market pricing for a rate cut at the Fed's fall meeting rose from around 70% to more than 90% on Thursday, according to LSEG data, after a softer-than-expected consumer price index print. Fed Chair Jerome Powell had already bolstered expectations of such a move when he said earlier this week that there were risks in keeping interest rates too high for too long — comments interpreted as "modestly dovish" by analysts. However, there are also risks to easing monetary policy that cast a cloud over the rate cut outlook, Weinberg, chief economist at High Frequency Economics, told CNBC's "Squawk Box Europe" on Friday.

Persons: Jerome Powell, Carl Weinberg, Weinberg, CNBC's Organizations: US Federal Reserve, Banking, Housing, Urban Affairs Committee, Federal Reserve Locations: Washington , DC, U.S

☆ Dollar adrift ahead of U.S. inflation test; sterling firms
▼ + stars: | 2024-07-11 | by ( ) www.cnbc.com time to read: +3 min

The dollar fell a touch on Thursday although moves were largely subdued ahead of a U.S. inflation report due later in the day, while sterling firmed on receding expectations for an August rate cut from the Bank of England (BoE). The dollar fell a touch on Thursday although moves were largely subdued ahead of a U.S. inflation report due later in the day, while sterling firmed on receding expectations for an August rate cut from the Bank of England. BoE Chief Economist Huw Pill on Wednesday said price pressures in Britain's economy were persistent and that the timing of a first rate cut was an "open question". His colleague Catherine Mann signalled she is unlikely to vote for an interest rate cut in August. Against the greenback, the euro gained 0.04% to $1.0834, and the Aussie dollar rose 0.01% to $0.6754.

Persons: BoE, Huw Pill, Catherine Mann, Carol Kong, Jerome Powell Organizations: Bank of England, Monetary, ANZ, MPC, Commonwealth Bank of Australia, Federal Reserve, U.S, New Zealand, Reserve Bank of New, Bank of Japan Locations: U.S, Asia, Japan

☆ Stock market today: Indexes poised for another record as traders digest Fed commentary
▼ + stars: | 2024-07-10 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementUS stocks climbed higher on Wednesday and were poised to notch another fresh record. Traders were feeling upbeat after Fed Chair Powell delivered slightly dovish guidance on rate cuts before Congress on Tuesday. Investors are pricing in around two rate cuts by the end of the year, though bets on three rate cuts by December rose slightly, according to the CME FedWatch tool. Here's where US indexes stood shortly after the 9:30 a.m. opening bell on Wednesday:AdvertisementHere's what else happened today:In commodities, bonds, and crypto:Advertisement

Persons: —, Powell, Hogan, Riley Wealth Organizations: Fed, Service, Traders Locations: Here's

☆ 'Big change in language' from the RBNZ signals dovish tilt, economist says
▼ + stars: | 2024-07-10 | 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 Email'Big change in language' from the RBNZ signals dovish tilt, economist saysPhilip O'Donaghoe of Deutsche Bank discusses the Reserve Bank of New Zealand's decision to hold its cash rate.

Persons: Philip O'Donaghoe Organizations: Deutsche Bank, Reserve Bank of New

☆ European markets head for positive open as political worries subside
▼ + stars: | 2024-07-10 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +1 min

Liverpool Street train station beneath the new skyline of skyscrapers in the City of London financial district on 14th February 2022 in London, United Kingdom. LONDON — European stocks are expected to open higher Wednesday as concerns over the political outlook in France subside. France's CAC 40 index closed 1.81% lower Tuesday as traders assessed the implications of a hung parliament and a period of political uncertainty in France. Asia-Pacific markets were mixed overnight, even as key Wall Street benchmarks rose following dovish comments from U.S. Federal Reserve Chairman Jerome Powell Tuesday. U.S. stock futures were little changed in overnight trading Tuesday after the S&P 500 notched a fresh record close.

Persons: Germany's DAX, Emmanuel Macron, Jerome Powell, Powell Organizations: Liverpool, LONDON, CAC, IG, Front, NFP, U.S . Federal, National Grid Locations: City, London, United Kingdom, France, Asia, Pacific, U.S, Wetherspoons

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