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☆ Cummins CEO Jennifer Rumsey sits down with Jim Cramer to talk clean energy efforts
▼ + stars: | 2023-05-04 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

Cummins CEO Jennifer Rumsey sits down with Jim Cramer to talk clean energy effortsCummins CEO joins 'Mad Money' host Jim Cramer to talk zero-emission efforts, quarterly earnings, and its acquisition of Meritor.

☆ Futures slip ahead of Fed meet; U.S. debt ceiling jitters dent mood
▼ + stars: | 2023-05-02 | by ( ) www.reuters.com time to read: +3 min

The U.S. central bank is expected to deliver a 25 basis-point interest rate increase on Wednesday and then hold rates steady for the rest of 2023, according to economists in a Reuters poll. However, with inflation running well over the central bank's 2% target and a still-strong labor market mean chances of rate cuts seem less likely. Denting sentiment, Australia's central bank raised its cash rate by 25 basis points when traders were expecting an extended pause, citing too high inflation and warning of even higher rates. ET, Dow e-minis were down 72 points, or 0.21%, S&P 500 e-minis were down 7 points, or 0.17%, and Nasdaq 100 e-minis were down 1 points, or 0.01%. Educational services company Chegg (CHGG.N) slumped 44.7% on a downbeat second-quarter revenue forecast on increasing competition from ChatGPT.

☆ A solid start to earnings season will be put to the test in the week ahead
▼ + stars: | 2023-04-29 | by ( Zev Fima | ) www.cnbc.com time to read: +14 min

The biggest week of this earnings season showed us that things aren't as bad as many feared. The week ahead of earnings, including several more Club names, should tell us more. The results are always important, but it's the guidance and management commentary we will really hone in on to better understand the path ahead. In Amazon's case, a solid first quarter for its AWS cloud business was overshadowed by management seeing a material slowdown in April. ET: Nonfarm Payrolls Looking back It was the biggest week of this earnings season for the Club as several of our mega-cap holdings and industry bellwethers reported results.

☆ Markets next week have to contend with how aggressive the Fed drumbeat sounds
▼ + stars: | 2023-04-28 | by ( Scott Schnipper | ) www.cnbc.com time to read: +8 min

"Is Chairman Powell going to say, 'It is likely that we pause now and assess what the economy is going to do?' "The tone on that balance is going to be very critical to how the market is going to move next week." "What is [Powell] going to do? June Fed meeting The betting on Wall Street right now is that, after next week, the Fed will standpat at its next meeting six weeks later, on June 13-14. Beyond Apple, some 161 other companies in the S & P 500 index are scheduled to report latest-quarter results next week.

☆ Jobs report raises probability of 25 basis point hike in May, says New Edge Wealth CIO
▼ + stars: | 2023-04-10 | 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 EmailJobs report raises probability of 25 basis point hike in May, says New Edge Wealth CIOCameron Dawson, New Edge Wealth CIO, and Kevin Cummins, Chief U.S. economist at NatWest Markets, join 'Squawk Box' to discuss the latest jobs numbers, and key economic data to look forward to in the week ahead.

Companies Cummins Inc FollowApril 3 (Reuters) - Cummins Inc (CMI.N) said on Monday it would invest more than $1 billion across its U.S. engine manufacturing network to upgrade some facilities to support new clean energy technologies. Cummins said the investment would go towards its facilities in Indiana, North Carolina and New York, to upgrade its clean energy technology including fuel-agnostic engine platforms that would run on low-carbon fuels like natural gas, diesel and eventually hydrogen. The Columbus, Indiana-based company, known for its diesel and natural gas engines, has accelerated its push towards clean energy solutions to sell to its industrial and commercial transportation customers, as the trucking industry is expected to face tougher greenhouse emissions regulations this year. The $1 billion announced is in addition to the investment of $1.5 billion that the engine maker announced last month. Reporting by Kannaki Deka in Bengaluru; Editing by Rashmi AichOur Standards: The Thomson Reuters Trust Principles.

☆ Biden trumpets his economic plans in Minnesota after Cummins announces $1 billion investment
▼ + stars: | 2023-04-03 | by ( Emma Kinery | ) www.cnbc.com time to read: +2 min

President Joe Biden touted efforts to boost U.S. manufacturing after touring a Cummins facility in Minnesota on Monday, as the company announced it will invest $1 billion in making cleaner engines. Cummins intends to invest the money in Indiana, North Carolina and New York, focusing on creating low-to-zero-carbon engines. More than half of medium and heavy-duty trucks in the U.S. use Cummins engines, and the upgraded facilities aim to decarbonize shipping vehicles across the country. Electrolyzers are needed to create clean hydrogen, used to power certain vehicles and in steel production. "All these investments mean that now if you grow up in Minnesota, if you go to school in Minnesota, you can stay in Minnesota," Biden said.

The EU has progressively tightened limits since "Euro 1" in 1992. The Commission's proposal widens real-driving emissions (RDE) testing and adds continuous testing of emissions via an on-board monitoring system. Euro 7 would take effect in mid-2025 for cars and in mid-2027 for trucks and buses. The European Commission estimates Euro 7 could add up to 150 euros to car prices and 2,600 euros for trucks and buses. A Commission spokesperson declined to comment on executives' statements, but said Euro 7's real-driving emissions tests were important because of "scandals in the past about cheating devices".

☆ Consumer inflation may have cooled in February but only slightly
▼ + stars: | 2023-03-13 | by ( Patti Domm | In | ) www.cnbc.com time to read: +4 min

Consumer inflation may have cooled off a little in February, but economists expect it is still running at a high pace. The consumer price index, expected Tuesday morning, is forecast to show headline inflation rose 0.4% last month, or 6% from the prior year, according to economists polled by Dow Jones. Core inflation, excluding food and energy, is expected to be higher by 0.4% and the annual pace is expected to be 5.5%. Tom Simons, money market economist at Jefferies, expects the Fed to stick with a quarter-point rate hike in March. By stopping here, it exposes them to risk of inflation expectations reaccelerating," said Simons.

☆ The bond market's recession warning has gotten more urgent
▼ + stars: | 2023-03-13 | by ( Patti Domm | In | ) www.cnbc.com time to read: +5 min

The bond market is sending a more urgent recession warning and also signaling that the Federal Reserve may have to pause raising interest rates — giving up its fight against inflation. The sharp move in the 2-year yield also resulted in a rapid steepening of the yield curve. "The steepening always starts to happen because the market expects the Fed to cut rates in response to that recession." DoubleLine Capital CEO Jeffrey Gundlach also said the "aggressively steepening" of the Treasury yield curve after inversion is "highly suggestive of imminent recession." The 2-year yield jumped above 5% after he spoke.

☆ Watch CNBC's full interview with Cummins CEO Jennifer Rumsey
▼ + stars: | 2023-03-08 | 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 Cummins CEO Jennifer RumseyJennifer Rumsey, Cummins president and CEO, joins 'Squawk on the Street' to discuss the company's introduction of its new power business, named Accelera, and the future of the company.

☆ We've built the broadest portfolio of zero-emissions technologies, says Cummins CEO Jennifer Rumsey
▼ + stars: | 2023-03-08 | 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 EmailWe've built the broadest portfolio of zero-emissions technologies, says Cummins CEO Jennifer RumseyJennifer Rumsey, Cummins president and CEO, joins 'Squawk on the Street' to discuss the company's announcement of its new power business, Accelera, and her vision for the future of the company.

☆ Dollar treads water ahead of Powell testimony; Aussie slips
▼ + stars: | 2023-03-07 | by ( Ankur Banerjee | ) www.reuters.com time to read: +3 min

SINGAPORE, March 7 (Reuters) - The U.S. dollar was tentative on Tuesday ahead of testimony before Congress by Federal Reserve Chair Jerome Powell, while the Aussie slid after the Reserve Bank of Australia hinted that it might nearly be done with monetary tightening. Elsewhere, the U.S. dollar index , which measures it against six major rivals, was flat at 104.24, having slipped 0.26% overnight. "We suspect he will sound noncommittal for now and take his cues from the looming upcoming key data," said Cummins, who expects the Fed to raise rates by 50 basis points. Fed funds futures traders are pricing in a 76% probability the Fed will raise rates by 25 basis points at its March meeting. OCBC currency strategist Christopher Wong said Powell's testimony will be one of the last instances of Fed officials speaking before the black-out period commences ahead of the FOMC meeting.

☆ Dollar subdued ahead of Powell testimony; Aussie slips
▼ + stars: | 2023-03-07 | by ( Ankur Banerjee | ) www.reuters.com time to read: +3 min

SINGAPORE, March 7 (Reuters) - The U.S. dollar was tentative on Tuesday ahead of testimony by U.S. Federal Reserve chair Jerome Powell, while the Aussie slid after the Reserve Bank of Australia raised its cash rate by 25 basis points but tempered hawkishness in its statement. Meanwhile, the U.S. dollar index , which measures it against six major rivals, fell 0.077% to 104.170, having slipped 0.26% overnight. The Japanese yen was mostly flat at 135.94 to the dollar ahead of the final policy meeting for Bank of Japan Governor Haruhiko Kuroda on Thursday and Friday. Fed funds futures traders are pricing in a 76% probability the Fed will raise rates by 25 basis points at its March meeting. They also expect interest rates to peak at 5.48% in September and still be above 5% at the end of the year.

☆ Dollar subdued ahead of Powell testimony
▼ + stars: | 2023-03-07 | by ( Ankur Banerjee | ) www.reuters.com time to read: +2 min

SINGAPORE, March 7 (Reuters) - The dollar was subdued on Tuesday ahead of testimony by Federal Reserve chair Jerome Powell, which investors will focus on for cues of the path the U.S. central bank is likely to take in tackling sticky inflation. The dollar index , which measures the U.S. currency against six major rivals, was 0.067% higher at 104.31, having skidded 0.26% overnight. The Australian dollar rose 0.01% against the U.S. dollar at $0.673 ahead of the Reserve Bank of Australia's policy decision later in the day where a quarter-percentage point rate hike is widely expected. The Japanese yen weakened 0.15% to 136.14 per dollar ahead of the final policy meeting for Bank of Japan Governor Haruhiko Kuroda on Thursday and Friday. They also expect interest rates to peak at 5.48% in September and still be above 5% at the end of the year.

☆ Dollar advances as traders consider higher-for-longer rates view
▼ + stars: | 2023-02-27 | by ( Ankur Banerjee | ) www.reuters.com time to read: +3 min

Consumer spending, which accounts for more than two-thirds of U.S. economic activity, jumped 1.8% last month, according to the Commerce Department. The market is now pricing U.S. interest rates to peak at 5.4% in July and remain above 5% through the end of the year. The Fed is expected to raise rates by 25 basis points at its March 21-22 meeting, though some analysts see the possibility of a 50 basis points hike if inflation stays high and growth remains strong. "We now believe it is a much closer call that officials hike by 50 basis points in March than our earlier 25 basis points assumption," said Kevin Cummins, chief economist at NatWest Markets. The Australian dollar rose 0.12% to $0.673, while the kiwi advanced 0.13% versus the greenback to $0.617.

☆ Jadeja leads Australia's rout, India take 2-0 series lead
▼ + stars: | 2023-02-19 | by ( Amlan Chakraborty | ) www.reuters.com time to read: +3 min

Jadeja claimed a career-best 7-42 as he and Ravichandran Ashwin (3-59) routed Australia for a paltry 113 in their second innings at the Arun Jaitley Stadium. Skipper Rohit Sharma made 31 and Cheteshwar Pujara, who made 31 not out, scored the winning run in his 100th test. Earlier, resuming on a promising 61-1, Australia added 52 runs before Jadeja and Ashwin engineered a spectacular collapse. Once Jadeja sent back Marnus Labuschagne (35), the wheels came off Australia's innings with nine of the 11 batsmen posting single digit scores. Reporting by Amlan Chakraborty in New Delhi; editing by Michael Perry and Bradley PerrettOur Standards: The Thomson Reuters Trust Principles.

Financial advisor Cassandra Cummings has taught more than 100,000 Black women start investing in the stock market. Here are four investments she recommends for beginners, including REITs and dividend stocks. Real estate investment trustsInvesting in real estate can require large sums of cash on hand to close sales, make renovations, and maintain properties. On the other hand, real estate investment trusts (REIT) are companies that own, operate or finance income-producing real estate ventures. It's an easy way to start investing in real estate if you don't have the capital to invest in your own rental property.

☆ Stellantis recalls 340,000 Ram trucks, recommends parking outside
▼ + stars: | 2023-02-15 | by ( ) www.reuters.com time to read: +1 min

Companies Stellantis NV FollowWASHINGTON, Feb 15 (Reuters) - Chrysler-parent Stellantis (STLAM.MI) is recalling 340,000 diesel Ram pickup trucks to replace an electrical connector after reports of six fires, and recommends parking the vehicles outside until repairs are made. The company's U.S. unit FCA US discovered that a part on some trucks may overheat and in rare instances may pose a fire risk. The recall covers 340,000 Ram 2500 and 3500 pickups, and 3500/4500/5500 cab chassis trucks from model years 2021-2023 with 6.7-liter Cummins diesel engines. Nearly 22,000 of the rest are in Canada and almost 13,000 outside of North America. Reporting by David Shepardson; editing by Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

☆ Adoption of new battery technologies is going to be a challenge, says Cummins' Amy Davis
▼ + stars: | 2023-02-15 | 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 EmailAdoption of new battery technologies is going to be a challenge, says Cummins' Amy DavisAmy Davis, president of Cummins new power business, joins Brian Sullivan and the 'CNBC Special: Taking Stock' to discuss the new unit and the company's decision to focus on battery electric systems.

☆ Australia drop Head, Murphy debuts against India in Nagpur
▼ + stars: | 2023-02-09 | by ( ) www.reuters.com time to read: +1 min

NAGPUR, India, Feb 9 (Reuters) - Australia dropped middle-order batter Travis Head and handed uncapped off-spinner Todd Murphy his debut for the opening test against India in Nagpur on Thursday. Touring captain Pat Cummins won an important toss and elected to bat in spin-friendly conditions at the Vidarbha Cricket Association Stadium. "We know we're going to have to tweak a few things to how we play in Australia, can't wait." For India, Suryakumar Yadav, the top-ranked Twenty20 batter, will make his test debut alongside wicketkeeper KS Bharat. India captain Rohit Sharma said they too would have preferred to bat first.

☆ Australia T20 skipper Finch retires from internationals after "amazing ride"
▼ + stars: | 2023-02-06 | by ( Ian Ransom | ) www.reuters.com time to read: +4 min

MELBOURNE, Feb 7 (Reuters) - Australia T20 captain Aaron Finch announced his retirement from internationals on Tuesday, drawing a line under a career that yielded two World Cup trophies and more than 8,000 runs across formats. Also the former one-day skipper, Finch retired from the 50-over game last September and then took the home summer to decide on his T20 future after Australia's World Cup title defence ended before the semi-finals. At his home Melbourne Cricket Ground, where he savoured his first World Cup triumph in the 50-over tournament in 2015, Finch said it was time for a successor to make a mark. "Today, fully, I think the time is right to let the T20 team move on into a new phase, particularly with a World Cup coming up in 2024," he told reporters. Invariably, he was right, and his calm leadership proved invaluable as his written-off team clicked in the United Arab Emirates to win a first T20 World Cup.

☆ Futures fall with eyes on earnings
▼ + stars: | 2023-02-06 | by ( ) www.reuters.com time to read: +2 min

Companies reporting quarterly results this week include Walt Disney Co (DIS.N) and PepsiCo Inc (PEP.O), while Tyson Foods Inc (TSN.N), Lowe's Cos Inc (LOW.N), Activision Blizzard Inc (ATVI.O) and Cummins Inc (CMI.N) report results later in the day. Halfway through the earnings of the S&P 500 companies, 69.6% have reported results above expectations, according to Refinitiv. Overall, analysts still expect quarterly earnings of S&P 500 firms declining 2.7%. Job growth in the U.S. accelerated sharply in January, with nonfarm payrolls surging by 517,000 jobs, well above an estimate of 185,000. ET, Dow e-minis were down 237 points, or 0.7%, S&P 500 e-minis were down 37 points, or 0.89%, and Nasdaq 100 e-minis were down 144.25 points, or 1.14%.

☆ Stock futures slide to start week with more earnings and a Powell speech ahead
▼ + stars: | 2023-02-05 | by ( John Melloy | ) www.cnbc.com time to read: +1 min

U.S. stock futures were lower to start trading for the new week as investors awaited more earnings and an important speech from Federal Reserve Chairman Jerome Powell. The S&P 500 is up more than 7% for 2023. S&P 500 futures were lower by 0.3% and Nasdaq-100 futures fell by 0.4%. We are about halfway through fourth-quarter earnings season for the S&P 500 and the results have not been great. The S&P 500 just formed a bullish "Golden Cross" pattern and touched a 5-month high last week above the 4,100 level.

☆ Green's 'surprise' progress leaves McDonald hopeful ahead of first test
▼ + stars: | 2023-02-05 | by ( ) www.reuters.com time to read: +2 min

Feb 5 (Reuters) - Australia coach Andrew McDonald remains hopeful Cameron Green can feature against India when the first test between the nations begins in Nagpur on Thursday after the all-rounder's finger injury made "significant" improvement. McDonald said Green still had progress to make before he could be considered for the series opener. "We've got a fair bit to work through him before the first test match," McDonald told reporters. "I wouldn't say he was in discomfort when he was bowling. "I wouldn't say (picking two spinners) is a given," he said.

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