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But improved price action this week suggests Freeport-McMoRan, Inc. (FCX) may be poised for further upside into the fourth quarter. So with a bearish momentum reading at the May peak, then a bullish momentum reading at the August and September lows, FCX was primed for an upside breakout. The breakout in March 2024, leading to the May peak, suggested a new uptrend as the price exited this basing pattern. The stock gapped higher on Tuesday, pushing above short-term resistance around $46 as well as a trendline using the May and July highs. The stock did become overbought this week, with the RSI popping just above the 70 level on the recent breakout.
Persons: FCX, David Keller Organizations: Inc, Freeport, CMT, CNBC, NBC UNIVERSAL Locations: Freeport, McMoRan
Though mortgage rates are expected to continue trending down, it's unclear how much further they might drop. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates would impact your monthly payments. 30-Year Mortgage Rates TodayAverage 30-year mortgage rates are hovering around 5.80% today, according to Zillow data. 15-Year Mortgage Rates TodayAverage 15-year mortgage rates are right around 5%, according to Zillow data. 5-Year Mortgage Rate TrendsHere's how 30-year and 15-year mortgage rates have trended over the last five years, according to Freddie Mac data.
Persons: you'll, they've, Freddie Mac, it's, They'll Organizations: Federal Reserve, Zillow, Fed Locations: U.S, Chevron
But it’s something politicians have struggled with achieving on their own — particularly amid an election cycle in which many young voters find themselves jaded with politics as a whole. Overall, young voters are not very optimistic right now, according to NBC News’ Stay Tuned Gen Z poll of over 2,600 voters under 30 in September. Still, Piker’s success as a streamer has been admired by fellow political creators, especially those who are chasing similar progressive audiences. Hasan Piker answering questions and debriefing on daily politics for his Twitch stream on Aug. 14. In recent years, Piker said he’s noticed the online political landscape change.
Persons: Hasan, Piker, Ilhan, , you’re, ” Piker, , Cenk Uygar, Twitch, Austin MacNamara, “ He’s, he’s, ” Sean Wiggs, Hasan Piker, Brock Stoneham, I’ve, Wiggs, “ Hasan, Joe Biden, , Andrew Tate, influencers, Donald Trump, YouTuber Logan Paul, Tana Mongeau, Kamala Harris, Harris, Tim Walz, he’s “, ” He’s, Alexandria Ocasio, Ro Khanna, I’m, Chappell Roan Organizations: YouTube, NBC, Pew, Turks, Republican, Democratic, Trump, Democratic Party, Democratic National Convention, DNC, Republican National Convention, Minnesota Gov Locations: Los Angeles, Gaza, Arizona, Chicago, Milwaukee, , Alexandria, Cortez
An unidentified Gettysburg College student who allegedly carved a racial epithet on the chest of a teammate is no longer enrolled at the Pennsylvania liberal arts college, the school said over the weekend. "We can report now that the individual who scratched a slur onto another person is no longer enrolled at the College," the parties stated. A spokesperson for the college confirmed it, saying the alleged perpetrator and victim were suspended from the swim team pending the outcome of an investigation. On Friday, The Gettysburgian published a statement from the victim's family. The victim’s family said he was the only person of color at the gathering and that the alleged perpetrator was a trusted friend of his.
Persons: Bob Iuliano, Iuliano, Jamie Yates, Yates, Organizations: Gettysburg College, Sunday, College, NAACP, Pennsylvania, Human Relations, U.S . Justice Department's Civil Rights Division, Gettysburg, III, Centennial Conference, Division, District Locations: Pennsylvania, Gettysburg
Lars Fruergaard Jørgensen, CEO of Novo Nordisk, speaks during an interview in New York on Aug. 10, 2022. Novo Nordisk 's top executive is slated to face a Senate grilling on Tuesday over the high prices of the company's weight loss drug Wegovy and diabetes treatment Ozempic, as demand for both injections soars in the U.S.Novo Nordisk CEO Lars Fruergaard Jørgensen will testify at a Senate Health, Education, Labor and Pensions Committee hearing at 10 a.m. It comes roughly five months after Sen. Bernie Sanders, the Vermont independent who chairs the Senate panel, opened an investigation into the Danish drugmaker's pricing practices. Sanders contends that Novo Nordisk charges Americans substantially higher prices for its blockbuster drugs than it does for patients in other countries. Before insurance, Ozempic costs nearly $969 per month and Wegovy costs almost $1,350 per month in the U.S.
Persons: Lars Fruergaard Jørgensen, Sen, Bernie Sanders, Sanders Organizations: Novo Nordisk, Health, Education, Labor, Washington , D.C, Nordisk Locations: New York, U.S, Washington ,, Vermont, Danish, Germany
NBC News takes a look at the hostages who remain in Hamas captivity. Other hostages have been found dead, including the six who were killed by Hamas last month. Hamas also holds two hostages, one taken in 2014 and the other in 2015, as well as the bodies of two slain Israeli soldiers. And after the recent killing of the six hostages in Gaza, Hamas said that hostage guards had been operating under new orders. Judith Weinstein, 70, and Gadi Haggai, 73Married couple Judith Weinstein and Gadi Haggai, both American citizens, were initially believed to have been taken hostage by Hamas, but their statuses were unclear.
Persons: Lee Siegel, Keith Siegel, Aviva Siegel, Lee, , Noa Argamani, — Alon Shamriz, Yotam Haim, Samer Talalka —, Hersh Goldberg, — Nik Beizer, Ron Sherman, Elia Toledano, Siegel, Omri Miran, Miran, Keith, Chen, Nir Oz, Jonathan Dekel, Abu Ubaida, Al, Edan Alexander, , , Yael Alexander, Omer Neutra, NBC's, Hersh, Neutra’s, Orna Neutra, Itay Chen, Ruby, Hagit Chen, Judith Weinstein, Gadi Haggai, Joe Biden Organizations: Aviva, NBC, Israel Defense Forces, Sunday, Hamas, Brigades Locations: Israel, Gaza, American, shrouds, New Jersey
See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates would impact your monthly payments. 30-Year Mortgage Rates TodayAverage 30-year mortgage rates are hovering near 5.70%, according to Zillow data. 15-Year Mortgage Rates TodayAverage 15-year mortgage rates are near 5%, according to Zillow data. Last month, 30-year refinance rates averaged 6.59%, while 15-year refinance rates were around 5.90%. 5-Year Mortgage Rate TrendsHere's how 30-year and 15-year mortgage rates have trended over the last five years, according to Freddie Mac data.
Persons: you'll, Freddie Mac, it's, they've, They'll, refinance Organizations: Zillow, Fed Locations: Chevron
In a note to clients, Slok issued a more positive outlook on the US job market, even as hiring has slowed this year. "It is inconsistent to say that the incoming economic data is strong but the labor market is weakening," Slok wrote. AdvertisementHowever, consumption and business spending data have been strong in recent months. If the 30-year fixed rate slumps to around 5%, that could that could spark a rebound in home sales, providing a boost to the economy and job market, Slok said. AdvertisementThe outlook for the job market, though, remains mixed, with some commentators warning that hiring could continue to slow due to the lagged impact of the Fed's rate hikes.
Persons: , Torsten Slok, Slok, Freddie Mac, David Rosenberg, who's Organizations: Service, Apollo Global Management, Business, Bureau of Labor Statistics, Challenger, IRA, Atlanta Fed Locations: Atlanta
Mortgage rates for September 21, 2024, are around 5.70%, according to Zillow data. See more mortgage rates on Zillow Real Estate on ZillowWhat Are Today's Mortgage Refinance Rates? See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. Current 30-Year Mortgage RatesAverage 30-year mortgage rates have increased slightly and are hovering around 5.70%, according to Zillow data. But now that inflation has decelerated and the Fed is expected to cut rates soon, mortgage rates have trended down.
Persons: Freddie Mac, it's, Fannie Mae Organizations: Labor Department, Zillow, Fed, Mortgage, Association, ARM, . Government Locations: Chevron, Government
Indexes rallied Thursday as investors continue to digest Wednesday's jumbo rate cut from the Fed. The Fed cut rates by 50 basis points in its first rate cut in over four years. AdvertisementUS stocks soared on Thursday in a late reaction to the Federal Reserve's jumbo interest rate cut. On Wednesday, the Fed issued its first interest rate cut since 2020, cutting its benchmark rate by 50 basis points. Bank of America analysts said after the meeting that they see 75 basis points of cuts in the fourth quarter and 125 basis points next year.
Persons: , Jerome Powell's, Dow, today's 50bp, Goldman Sachs, Powell, Gen Z's Organizations: Fed, Service, Federal, Nasdaq, Bank of America, Labor Department, SEC
See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates would impact your monthly payments. 30-Year Mortgage Rates TodayAverage 30-year mortgage rates are down and hovering near 5.60%, according to Zillow data. 15-Year Mortgage Rates TodayAverage 15-year mortgage rates have decreased and are hovering below 5%, according to Zillow data. Last month, 30-year refinance rates averaged 6.59%, while 15-year refinance rates were around 5.90%. 5-Year Mortgage Rate TrendsHere's how 30-year and 15-year mortgage rates have trended over the last five years, according to Freddie Mac data.
Persons: it's, you'll, Freddie Mac, they've, They'll, refinance Organizations: Fed, Federal Reserve, Zillow Locations: Chevron
A trader works, as a screen broadcasts a news conference by Federal Reserve Chair Jerome Powell following the Fed rate announcement on the floor of the New York Stock Exchange on June 12, 2024. Stock futures were flat in overnight trading Tuesday as Wall Street anticipated a long-awaited rate cut from the Federal Reserve following an aggressive multiyear hiking campaign aimed at tamping down hot inflation. Futures tied to the Dow Jones Industrial Average added 28 points, while S&P 500 futures hovered near the flatline. Investors remain on high alert ahead of the first expected rate cut from the Fed at the conclusion of its two-day policy meeting Wednesday. CME Group's FedWatch Tool shows traders pricing in a 63% chance of a 50 basis point cut, and 37% odds of a 25 basis point move.
Persons: Jerome Powell, Peter Cecchini, Axonic, CNBC's Organizations: Federal, New York Stock Exchange, Stock, Federal Reserve, Dow Jones, Nasdaq, Dow Jones Industrial, Fed
Last week, markets expected a quarter-point rate cut and were just happy that the Fed was starting the cutting cycle. .SPX YTD mountain S & P 500, YTD And fed funds futures now point a majority of traders seeing a half point cut. Even though most Fed officials and economists believe the central bank would start with a quarter point. But now we've gone from that fear to expecting a half point. On the other hand, the JPMorgan traders think that a cut of a quarter point would "add to market uncertainty," meaning that we probably shouldn't expect the market to keep building on its all-time highs with a quarter point.
Persons: wouldn't, Michael Feroli, CNBC's Organizations: Federal Reserve, Dow Jones, JPMorgan
According to CME FedWatch, which estimates interest rate changes based on market predictions, the size of the rate cut is a coin toss. As of Friday afternoon, there's a 51% chance the Federal Reserve will cut rates by 25 basis points and a 49% chance it'll be an extra-large 50-basis-point cut. That's because a larger rate cut makes borrowing cheaper, which tends to drive up spending and fuel price increases. Rate cuts will also eventually make it cheaper for small businesses to take out loans. A rate cut could cause a rush of buyers to enter the market in the short term, driving up prices and competition.
Persons: Jerome Powell, Michael Madowitz, she's, McTier, it'll, Mark Hamrick, Banks, Hamrick, NerdWallet, Sara Rathner Organizations: Service, Federal, CME FedWatch, Federal Reserve, Business, Washington Center for Equitable Growth, Fed, Consumer Financial, Bureau, asheffey Locations: Jackson Hole , Wyoming, McTier
The S & P 500 rebounded 4% this past week, almost clawing back all of the prior week's horrible decline. Fed watch The Fed is the big market event this week. ET: Fed rate decision Before the bell: General Mills (GIS) After the bell: Steelcase (SCS) Thursday, Sept. 19 8:30 a.m. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.
Persons: Jim Cramer, Jensen Huang's, Goldman Sachs, Jim, Huang, Lisa Su, Su, Vimal Kapur, Morgan, Brian Niccol, Wells, Morgan Stanley, Jerome Powell, They're, Lennar, Doug Yearley, Mills, LEN, Jim Cramer's, Spencer Platt Organizations: Federal, Dow, Nasdaq, Nvidia, Club, Technology, CNBC, Oracle, Devices, TAM, Apple, Honeywell, Starbucks, Barclays Global Financial Services, Fed, FedEx, homebuilder, Home Depot, Darden, Jim Cramer's Charitable, New York Stock Exchange, Getty Locations: Las Vegas, U.S, America, Horton, New York City
Dollar firm as inflation data douse bets for big Fed rate cut
  + stars: | 2024-09-12 | by ( ) www.cnbc.com   time to read: +3 min
The dollar traded near a four-week high versus the euro on Thursday after signs of some stickiness in U.S. inflation reinforced expectations that the Federal Reserve would avoid a super-sized interest rate cut next week. The dollar traded near a four-week high versus the euro on Thursday after signs of some stickiness in U.S. inflation reinforced expectations that the Federal Reserve would avoid a super-sized interest rate cut next week. Meanwhile, a quarter-point rate reduction from the European Central Bank is widely expected later on Thursday, with investors anxious for hints on how soon the monetary authority will cut again. Early on Wednesday, Bank of Japan board member Junko Nakagawa reinforced the central bank's tightening bias by saying low real rates leave room for further rate hikes. As a result, traders essentially priced out the chances of a 50-basis point rate cut on Sept. 18, paring the odds to 15% versus 85% probability for a 25-bp reduction.
Persons: Junko Nakagawa, Naoki Tamura, Tony Sycamore Organizations: Federal, European Central Bank, Bank of Japan, IG, ECB, Sterling, Swiss Locations: U.S
Mortgage rates have dropped nearly 20 basis points this week, with 30-year rates now near 5.7%, according to Zillow data. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's interest rates will affect your monthly payments. Current 30-Year Mortgage RatesAverage 30-year mortgage rates have inched down this week and are now hovering near 5.7%, according to Zillow data. Mortgage rates are determined by a variety of different factors, including larger economic trends, Federal Reserve policy, your state's current mortgage rates, the type of loan you're getting, and your personal financial profile. Because markets are already anticipating that the Fed will lower rates, mortgage rates might not drop much in response to a Fed rate cut.
Persons: you'll, Freddie Mac, it's Organizations: Reserve, of Labor Statistics, Fed, Zillow Locations: Chevron
A golden cross is a chart pattern in which a stock's 50-day moving average moves above its 200-day average. Given the more volatile backdrop, CNBC Pro screened FactSet for stocks that are forming or approaching a golden cross pattern. The health-care stock has a 50-day moving average of $103.31 and is approaching its 200-day moving average of $104.14. MarketAxess Holdings Meanwhile, the 50-day moving average of $230.11 for MarketAxess Holdings has already surpassed its 200-day moving average of $228.36, indicating possible future gains. Its 50-day moving average of $218.04 has also already passed its 200-day moving average of $215.18.
Persons: paring, Cardinal Health's Organizations: Dow Jones, Nasdaq, CNBC Pro, Health, Holdings, MarketAxess Holdings, SBA Communications SBA Communications, SBA Locations: Wednesday's
Gold inches higher as investors eye U.S. data for rate cues
  + stars: | 2024-09-12 | by ( ) www.cnbc.com   time to read: +2 min
Gold prices edged higher on Thursday, with traders focusing on the upcoming U.S. economic data that may offer further insights into an expected reduction in the Federal Reserve's interest rate next week. Gold prices edged higher on Thursday, with traders focusing on the upcoming U.S. economic data that may offer further insights into an expected reduction in the Federal Reserve's interest rate next week. Data on Wednesday showed that U.S. consumer prices rose marginally in August, but underlying inflation showed some stickiness, which could discourage the Federal Reserve from delivering a half-point interest rate cut next week. CPI data showed no major inflation spikes, which is supporting gold prices to hold above $2,500 and suggesting no immediate changes to Fed policy, Wong added. Palladium climbed 1.3% to $1,021.84, its highest since July 8, following comments on export regulations from Russian President Vladimir Putin.
Persons: Kelvin Wong, OANDA's, Price, Wong, Vladimir Putin, Putin Organizations: Asia Pacific, Traders, U.S, PPI, Reserve, West Locations: U.S, Moscow
An oil pumpjack in the Inglewood Oil Field, seen from the Kenneth Hahn State Recreation Area, on July 13, 2022, in Los Angeles, California. Crude prices bounced on Wednesday as concerns about Tropical Storm Francine disrupting supply of oil outweighed worries about demand. OPEC also cut its 2025 global demand growth estimate to 1.74 million bpd from 1.78 million bpd. But the U.S. Energy Information Administration said on Tuesday global oil demand is set to grow to a bigger record this year while output growth will be smaller than prior forecasts. Meanwhile, China's daily crude oil imports rose last month to their highest in a year, customs data and Reuters records showed on Tuesday, as shipments staged a tentative recovery on lower crude oil prices and improving refining margins.
Persons: Kenneth Hahn, Brent, Hiroyuki Kikukawa, Storm Francine Organizations: Inglewood Oil, Recreation Area, Brent, NS, Nissan Securities, U.S, National Hurricane Center, U.S . Bureau of Safety, Environmental, Organization of, Petroleum, OPEC, U.S . Energy, Administration Locations: Inglewood, Los Angeles , California, Louisiana, Gulf, Mexico, U.S . Gulf, U.S
Core inflation rose 0.3% in August, slightly above economists' expectations. Meanwhile, investors dashed their hopes for a 50 basis point rate cut from the Fed next week. AdvertisementUS stocks traded mixed on Wednesday as investors took in last month's inflation report, which showed an unexpected increase in the monthly core consumer price index. Bond yields rose as traders readjusted expectations for a jumbo rate hike of 50 basis points at next week's Federal Open Market Committee meeting. AdvertisementThe surprise increase led investors to almost completely discount the possibility of a 50 basis point rate cut at the Fed's next policy meeting.
Persons: , Josh Jamner, Jack McIntyre Organizations: Fed, Service, Dow Jones, ClearBridge Investments, Brandywine Global Locations: Here's
Private sector payrolls grew at the weakest pace in more than 3½ years in August, providing yet another sign of a deteriorating labor market, according to ADP. August was the weakest month for job growth since January 2021, according to data from the payrolls processing firm. Still, the ADP data showed that while hiring has slowed considerably, only a few sectors reported actual job losses. Annual pay increased 4.8% for those who stayed in their jobs, about the same level as July, according to ADP. The ADP count now tees up the more closely watched nonfarm payrolls report, which the Bureau of Labor Statistics will release Friday.
Persons: payrolls, Nela Richardson Organizations: ADP . Companies, Dow, Labor Department, ADP, of Labor Statistics, BLS, Federal
The next campaign finance disclosure deadline for Harris' campaign is Sept. 20. NBC News has asked the Harris campaign for comment. After the convention, Harris campaign officials said they had raised more than $540 million since Harris took the reins of the campaign. The whopping fundraising numbers for Harris come just after the Trump campaign reported it and related entities raised $130 million in the month of August, with nearly $300 million cash on hand. Trump's campaign reported that 98% of the month's donations came in at less than $200.
Persons: Kamala Harris, Donald Trump's, Harris, Joe Biden's, Tim Walz, Trump, Trump's, Biden, Brian Hughes Organizations: NBC News, Democratic, Minnesota Locations: Savannah GA, United States, New York, Atlanta, Los Angeles, San Francisco, Chicago, Trump's America
Jim Cramer said Microsoft shares could bottom Wednesday — and out of all the megacap tech stocks, this Club name is the one to buy. Wells Fargo also highlighted Microsoft's cybersecurity business. Similar to others in the sector, Microsoft's cybersecurity business can continue to rake in major corporations as clients as the threat of hacks and breaches remains elevated. In 2023, Microsoft CEO Satya Nadella said the company's cybersecurity business had surpassed $20 billion in revenue over a 12-month period. 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, Wells, Jim, Wells Fargo, Bing, Satya Nadella, Wells Fargo's bullishness, Piper Sandler, Jim Cramer's, Microsoft Corporation Satya Nadella, Chalinee Thirasupa Organizations: Microsoft, Wall, CNBC, Microsoft Corporation Locations: U.S, Bangkok, Thailand
Ukraine's Commander-in-Chief Oleksandr Syrskyi stated last week that an objective of the Kursk invasion was to redirect Russian forces away from the Pokrovsk direction. But the Kursk invasion has limited the number of troops available for reinforcement. KIRILL CHUBOTIN/Ukrinform/Future Publishing via Getty ImagesGeorge Barros, the geospatial-intelligence team lead and a Russia analyst at ISW, said that the Kursk invasion underscores how Moscow left a major portion of its international border undefended. Even though the Kursk invasion may not be forcing Russia to redirect front-line forces from Pokrovsk, that campaign will eventually culminate. These efforts have intensified since the start of the Kursk invasion.
Persons: , Ukraine's, Oleksandr Syrskyi, Tatarigami, Diego Herrera Carcedo, Putin, Volodymyr Zelenskyy, KIRILL CHUBOTIN, George Barros, Vladimir Putin, Barros, REUTERS Barros Organizations: Service, Kyiv, Business, AP, Institute for, Getty, Ukraine, Publishing, REUTERS Locations: Russia, Moscow, Kursk, Ukraine, Kyiv, Russia's, Ukrainian, Sudzha, Russia's Kursk, Pokrovsk, Anadolu, Russian, Korenevo
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