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☆ Premarket stocks: Retailers warn Wall Street to expect less shopping this year
▼ + stars: | 2024-03-01 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

Lowe’s: The home improvement giant projected total sales of $84 billion to $85 billion for 2024 in fourth-quarter results reported on Tuesday. Mortgage rates edge closer to 7%, dampening start of spring homebuying seasonUS mortgage rates climbed for the fourth week in a row, inching closer to 7% just as peak homebuying season gets underway, reports my colleague Anna Bahney. “Mortgage rates continued their ascent this week, reaching a two-month high and flirting with 7% yet again,” said Sam Khater, Freddie Mac’s chief economist, in a statement. Since reaching a 20-year high of 7.79% in October, mortgage rates have been slowly falling. But in recent weeks, as the market absorbs expectations that the Federal Reserve will not cut its benchmark lending rate until later this year, mortgage rates have trended higher.

Persons: they’re, ”, Marvin Ellison, Macy’s, Tony Spring, Corie Barry, ’, ” Barry, Diksha Madhok, Hanna Ziady, “, Thamashi De Silva, Knight Frank, Read, Anna Bahney, Freddie Mac, Sam Khater, Freddie Mac’s, Khater Organizations: CNN Business, Bell, New York CNN — Companies, Federal Reserve, Commerce Department, United States’s, Gross, Capital Economics, “ Locations: New York, That’s, India

☆ Mortgage rates edge closer to 7%, dampening start of spring homebuying season
▼ + stars: | 2024-02-29 | by ( Anna Bahney | ) edition.cnn.com time to read: +4 min

Washington, DC CNN —Mortgage rates climbed for the fourth week in a row, inching closer to 7% just as peak homebuying season gets underway. Since reaching a 20-year high of 7.79% in October, mortgage rates have been slowly falling. The average mortgage rate is based on mortgage applications that Freddie Mac receives from thousands of lenders across the country. Last week, mortgage applications dropped 5.6% from the week before, according to the MBA. Higher home prices pushed loan amounts higher in January, offsetting what was a monthly decline in mortgage rates, said Edward Seiler, MBA’s associate vice president for housing economics.

Persons: Freddie Mac, ”, Sam Khater, Freddie Mac’s, Khater, Bob Broeksmit, Mike Fratantoni, Edward Seiler, MBA’s, Lawrence Yun Organizations: DC CNN —, “, Federal Reserve, Mortgage, Association, National Association of Realtors Locations: Washington

☆ In Ukraine, Russia Is Inching Forward Death by Death
▼ + stars: | 2024-02-27 | by ( Thomas Gibbons-Neff | Anatoly Kurmanaev | ) www.nytimes.com time to read: 1 min

As the Russian military launched its offensive on the eastern Ukrainian city of Avdiivka last fall, Ukrainian troops noticed a change in their tactics as column after column of Russian forces were ravaged by artillery fire. Russian forces divided their infantry formations into smaller units to avoid being shelled, while the amount of Russian airstrikes increased to hammer the city’s defenses. It was one of several adjustments the Russians made to help reverse their fortunes after a disastrous first year. But these changes were obscured by one glaring fact: The Russian military was still far more willing to absorb big losses in troops and equipment, even to make small gains. Russian forces have a different threshold of pain, one senior Western official said this month, as well as an unorthodox view of what is considered an acceptable level of military losses.

Organizations: Western Locations: Russian, Ukrainian, Avdiivka

Right now, average 30-year mortgage rates are more than 40 basis points higher than they were this time last month. As long as price growth continues to come down, mortgage rates should ease this year. The person with the better score would also pay around $300 less on their monthly mortgage payment. See more mortgage rates on Zillow Real Estate on ZillowMortgage Refinance Rates TodayMortgage type Average rate today This information has been provided by Zillow. 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.

Persons: They're, they've, it's, myFICO, Fannie Mae Organizations: Zillow, Federal Reserve, Mortgage, Association, ARM Locations: Chevron

☆ Mortgage rates rise for the third week in a row to 6.9%
▼ + stars: | 2024-02-22 | by ( Anna Bahney | ) edition.cnn.com time to read: +3 min

Washington, DC CNN —Mortgage rates climbed for the third week in a row, inching closer to 7%. Mortgage rates have been making smaller moves over the past two months, after coming down from last year’s high, 7.79%, reached in October. Historically, Khater said, the mix of a strong economy and higher rates didn’t meaningfully impact the housing market. “In essence, Federal Reserve officials are seeking more concrete evidence of sustained improvement in inflation before making any changes,” she said. “The recent increase in mortgage rates has the potential to slow the market by disrupting the plans of many buyers, especially in a market where a significant number of consumers are anticipating lower mortgage rates, not higher,” said Xu.

Persons: Freddie Mac, who’ve, “, ”, Sam Khater, Freddie Mac’s, Khater, Jiayi Xu, Powell’s, Xu Organizations: DC CNN —, Federal Reserve, Realtor.com, Federal, Mortgage, Association Locations: Washington

☆ Baby boomers are driving the trend of Americans staying in their homes for twice as long as they did 2 decades ago
▼ + stars: | 2024-02-14 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +4 min

Americans are staying in their homes twice as long as they used to, a trend largely driven by boomers. Around 40% of baby boomers have stayed in their homes for at least 20 years, per a Redfin analysis. That can be chalked up to the unaffordable housing market, with mortgage rates and prices both elevated. The shift is largely driven by baby boomers, the real estate listing site said, who are staying put as mortgage rates and home prices remain elevated. Most (54%) baby boomers who own homes own them free and clear, with no outstanding mortgage," Redfin said in a note on Wednesday.

Persons: —, That's, boomers, Gen Zers, Redfin, it'll Organizations: Service, Federal Reserve

☆ Congress acted to protect NATO. But it might not be enough to stop Trump
▼ + stars: | 2024-02-13 | by ( Zachary Wolf | Analysis Zachary B. Wolf | ) edition.cnn.com time to read: +8 min

Bettmann Archive/Getty ImagesPulling American generals out of NATO might force other NATO countries to seek their own nuclear deterrents. More members hit 2% benchmarkTrump frequently complains that NATO members other than the US don’t pay dues, which is a misstatement of facts. Multiple NATO countries do not hit that benchmark, although spending has risen since Russia’s invasion of Ukraine. “It’s just like any relationship,” said Bergmann of the likelihood of permanent damage if Trump were to materially alter the NATO alliance. I know exactly what he has done and will do with the NATO alliance,” Rubio said, although he added, “But there has to be an alliance.”

Persons: Donald Trump’s, Joe Biden, Trump, “, Biden, Peter Bergen, Vladimir Putin, CNN’s Jim Sciutto, ” Sciutto, What’s, Kurt Volker, Chip Somodevilla, Volker, ” Volker, “ It’s, ”, Dwight D, Eisenhower, Max Bergmann, Bergmann, It’s, ” Marco Rubio, Sen, Marco Rubio, ” Rubio, he’s Organizations: CNN — Lawmakers, Trump, NATO, Republicans, Ukraine, CNN, Biden, Senate, House Intelligence, Allied, Eurasia Program, Center for Strategic, International Studies, Palais, Bettmann, World Trade Center, Pentagon Locations: Russia, “, Russian, Soviet Union, NATO, United States, Atlantic, Washington ,, Europe, American, Chaillot, Sweden, Finland, Ukraine, Afghanistan, France, Marco Rubio of Florida, “ State

☆ Spring homebuying and selling season just kicked off. Are you ready?
▼ + stars: | 2024-02-11 | by ( Anna Bahney | ) edition.cnn.com time to read: +9 min

So if you’re planning to be in the market this year, here’s what to expect this spring — and how to be ready to pounce. Don’t wait for better prices or ratesLast year was the least affordable housing market since the 1980’s as mortgage rates spiked to 23-year highs at the end of October. But a slightly brighter season is dawning this spring. This spring is offering a bit of rate and price stability said Betty Jans, an Annapolis, Maryland-based real estate agent. “If you wait, and all of the sudden we have a little dip in rates, you’re going to be competing with everyone else that wants to buy then, too,” Jans said.

Persons: it’s, Fannie Mae, Betty Jans, Tiffany Hagler, homebuyers, ”, Jans, Berkshire Hathaway, PenFed, ” Jans, “, Mike Mravca, Mravca, ” Mravca, “ I’ve, Hillary Nash, Nash, “ It’s, you’re Organizations: Washington CNN, NFL, Super, Geard, Bloomberg, Getty, Berkshire, Taylor Properties, NAR, District of Columbia, of Housing, Urban Development, National Housing Conference Locations: Annapolis , Maryland, Larchmont , New York, Virginia , Maryland, Delaware, Washington, Washington , DC, Maryland, Virginia

☆ Premarket stocks: Main Street is still investing like it’s 2023
▼ + stars: | 2024-02-05 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +10 min

Before the Bell spoke to Joe Mazola, director of Schwab Trader Education, about the growing importance of retail investors in markets, where Main Street is investing and why people are still enamored with Elon Musk. Why is it so important to single out retail investors and track where they’re putting their money? Is there a big difference between what retail investors and institutional investors are doing right now? That means the Fed is due to cut rates in 2024, which officials themselves projected in December. We just want some more confidence before we take that very important step of beginning to cut interest rates,” he told “60 Minutes” correspondent Scott Pelley.

Persons: Elon Musk’s, Tesla, Charles Schwab, Schwab, Bell, Joe Mazola, Elon Musk, Joe Mazzola, it’s, they’re, there’s, They’ve, Powell, Jerome Powell, “ We’ve, ” Powell, ”, Price, “, Scott Pelley, Read, 23andMe, Anne Wojcicki, ” Wojcicki, they’ve, Wojcicki Organizations: CNN Business, Bell, New York CNN, Tesla, Big Tech, Nvidia, Amazon, Microsoft, Devices, Schwab Trader Education, Elon, Treasury, Federal Reserve, Investors, CBS, Fed, Nasdaq, CNN Locations: New York, Street, Silicon Valley

MADISON, Wis. (AP) — Wisconsin Democrats are inching closer to overturning Republican-drawn legislative maps that the GOP has used over the past 13 years to grow their majorities and advance their agenda. Republican maps adopted in 2022 by the conservative-controlled Wisconsin Supreme Court used the 2011 map as a template and kept largely the same lines in place. The Wisconsin Supreme Court in December agreed and ordered new maps to be drawn in time for the November election. Her vote was the difference maker in the 4-3 December ruling tossing the Republican maps. The Wisconsin Supreme Court also has been asked by Democrats to take up a challenge to the state’s congressional district lines.

Persons: Janet Protasiewicz, Protasiewicz shouldn't, Tony Evers, It's Organizations: —, — Wisconsin Democrats, Republican, GOP, Republicans, Wisconsin Supreme, Democrats, Senate, U.S, Supreme, Republican Legislature, Democratic, Democratic Gov, . House Locations: MADISON, Wis, — Wisconsin, Wisconsin

☆ Fed Chair Powell: The ‘time is coming’ for a rate cut
▼ + stars: | 2024-02-04 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

New York CNN —Federal Reserve Chair Jerome Powell said the time is coming for interest rate cuts, but asked Americans for a bit more patience in the central bank’s fight against inflation. That means the Fed is due to cut rates in 2024, which officials themselves projected in December. But the central bank’s January policy statement pushed back on expectations of the first rate cut coming at their next meeting in March. Still, financial markets see a 20% chance the Fed will cut rates in March and a 71.3% chance they cut in May, according to the CME FedWatch Tool. But that hasn’t stopped Congress from pressuring Powell to cut rates.

Persons: Jerome Powell, “ We’ve, ” Powell, ”, Price, Powell, “, Scott Pelley, can’t, hasn’t, Democratic Sen, Sherrod Brown, ” Brown, Brown, Elizabeth Warren, we’re Organizations: New, New York CNN — Federal, CBS, Fed, Federal Reserve, Governors, Democratic, Banking, New York Community Bancorp, New York Community Locations: New York, Street, Ukraine, Asia, ”

TOKYO (AP) — Asian shares mostly rose Friday, helped by optimism about technology shares following a Wall Street rally led by big tech stocks. On Wall Street, U.S. stocks bounced back in a widespread rally following their worst day since September. Such data could give the Federal Reserve more of the evidence it wants of a slowdown in inflation before it will deliver the cuts to interest rates that investors crave. Traders are increasingly betting the Federal Reserve will begin cutting interest rates in May, after pushing back expectations from March. High interest rates intentionally slow the economy, and they undercut prices for investments.

Persons: Australia's, Korea's Kospi, Merck, Etsy Organizations: TOKYO, Nikkei, Dow Jones, Nasdaq, Microsoft, Big Tech, Apple, Meta, Facebook, Federal, crave, Elliott Investment Management, , New York Community Bancorp, Valley Bank, Signature Bank, New York Community Bancorp, Institute for Supply Management, Traders, Federal Reserve, Fed, New York Mercantile Exchange, Brent, U.S . Locations: Shanghai, U.S, ,

Attacks The map shows five of the seven sites that the U.S. hit with military strikes in Syria and Iraq. The strikes hit more than 85 targets at different locations using more than 125 precision-guided munitions, according to a statement by U.S. Central Command. Two American officials said the United States also conducted cyberoperations against Iranian targets on Friday but declined to provide details. It is clear from statements from the White House, and from Tehran, that neither the United States nor Iran wants a wider war. Striking sites in the Mideast with aircraft launched from the United States and refueled midair is a muscular show of global reach and capability, the official said.

Persons: Biden, Biden’s, Mr, “, ”, John F, Kirby, Douglas, Sims, Yahya Rasool, That’s, Iran’s, Jordan, Roger Wicker of, William Jerome Rivers, Kennedy Ladon Sanders, Breonna Alexsondria Moffett, Moffett, Sanders, Sergeant Rivers Organizations: Iranian, Islamic Revolutionary Guards Corps Quds Force, U.S . Central Command, Islamic Revolutionary Guards Corps, ”, Jordan . Middle, Revolutionary Guards, National Security Council, White House, Central Command, White, Pentagon, Dyess Air Force Base, U.S, military’s Joint Staff, Air Force, Iraq’s Armed Forces, Iran’s Revolutionary Guards Corps, Revolutionary Guards Corps, Administration, Capitol, Biden, Republican, Armed Services Committee, Dover Air Force Base, Army Reserve Locations: United States, Syria, Iraq, East, Jordan, Iran, U.S, Jordan ., Tehran, Texas, Yemen, Israel, Gen, Roger Wicker of Mississippi, Delaware

☆ The US must stop Russia, or China will learn that it pays to use force against America's interests, NATO chief says
▼ + stars: | 2024-02-02 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +2 min

Read previewA Russian victory against Ukraine would embolden China, says NATO Secretary-General Jens Stoltenberg. This story is available exclusively to Business Insider subscribers. The NATO chief told Fox News in an interview on Sunday that China could invade Taiwan if Russia wins the war. "While Russia may pose the most immediate challenge, China is the bigger long-term threat," Burns wrote in his article. Representatives for NATO did not immediately respond to a request for comment from Business Insider sent outside regular business hours.

Persons: —, Jens Stoltenberg, " Stoltenberg, Putin, Let's, Stoltenberg, Putin doesn't, Shannon Bream, Stoltenberg's, William J, Burns, Wu Qian Organizations: Service, Ukraine, Heritage Foundation, Business, NATO, Fox News, it's, CIA, Affairs, Asia, Business Insider Locations: China, NATO, Europe, Russia, Taiwan, Ukraine, it's Ukraine

☆ Fed meeting walkup: Chair Powell expected to announce rates will hold steady
▼ + stars: | 2024-01-31 | by ( Bryan Mena | ) edition.cnn.com time to read: +7 min

Washington, DC CNN —The Federal Reserve is widely expected to hold interest rates steady Wednesday for the fourth consecutive meeting, leaving them at a 23-year high as policymakers likely discuss the timing of rate cuts. That’s because, if inflation drifts lower but interest rates remain elevated, it causes “real” interest rates to rise, unnecessarily squeezing the economy and risking job losses. A rapidly weakening economy threatening mass job losses is an obvious reason to cut rates, which most economists aren’t currently forecasting. But another concern that has gained some traction is the rise of inflation-adjusted interest rates, which is an argument for rate cuts. The Fed is set to announce its latest policy decision at 2 pm ET on Wednesday, followed by a press conference from Chair Powell at 2:30 pm ET.

Persons: Jerome Powell’s, —, ” Sarah House, “, ”, Christopher Waller, it’s, Mary Daly, they’re, aren’t, Austan Goolsbee, Subadra Rajappa, Générale, Powell Organizations: DC CNN, Federal Reserve, Fed, CNN, ” San Francisco Fed, Fox Business, Chicago Fed, CNBC, PCE, Labor Department Locations: Washington, Wells, ” San

☆ The Fed keeps interest rates on hold — and signals cuts aren’t coming soon
▼ + stars: | 2024-01-30 | by ( Bryan Mena | ) edition.cnn.com time to read: +5 min

That’s the Fed’s latest attempt at giving Wall Street a reality check on rate cuts. Fed officials have been communicating that sentiment for weeks now, and Wednesday’s statement is yet another signal from the Fed that investors need to rethink their bets. In early January, futures showed that rate cuts were very likely going to happen in March, but those odds have since crumbled, and they may continue to dip. There are consequences if the Fed cuts rates too soon and if it cuts too late. Fed officials have said they likely need to see “below-trend growth” to be assured that inflation is on its way to 2%.

Persons: Price, “, ”, Jerome Powell, Subadra Rajappa, Générale Organizations: DC CNN, Federal Reserve, CNN, Fed Locations: Washington

☆ Biden risks deepening Middle East conflict with pressure to respond to deadly troop attack
▼ + stars: | 2024-01-28 | by ( Kevin Liptak | ) edition.cnn.com time to read: +7 min

How each party proceeds in the coming days could significantly alter the trajectory of the Israel-Hamas war and the broader tensions it has sparked in the Middle East. The issues have been the subject of hours of intense Situation Room discussions and high-level talks between the leaders. Already, Biden was coming under pressure to ratchet up the scale of American counterattack. American officials have said they have used backchannels to convey to Iran and its proxies that the attacks on US troops must stop. American officials said they were cautiously optimistic that the talks were moving in the right direction, and that an agreement could soon be in reach.

Persons: Jordan —, ’, Joe Biden, Benjamin Netanyahu, We’ve, Adam Smith, ” Smith, ”, Smith, Biden, Sen, Lindsey Graham of, ” Sen, John Cornyn of, Lloyd Austin, Jake Sullivan, Bill Burns, Sunday’s, Burns, Elissa Slotkin Organizations: CNN, Hamas, United, ”, House Armed Services Committee, Iran, Sunday, “ Target, Defense, CIA, Michigan Democrat Locations: States, Gaza, Israel, France, Washington, Tehran, United States, Iran, Jordan, South Carolina, Iraq, Syria, Lindsey Graham of South Carolina, John Cornyn of Texas, “, “ Target Tehran, Paris, Qatar, Egypt, Michigan

☆ Live updates: Israel-Hamas war rages, hostages talks, Gaza crisis
▼ + stars: | 2024-01-26 | by ( Kathleen Magramo | ) edition.cnn.com time to read: +1 min

But there are suggestions, however half-baked, from both sides, that show a willingness to talk. Indeed, Qatar — the main go-between — says there are “serious discussions” with Israel and Hamas, and is receiving “constant replies” from both sides. On Monday, Axios reported Israel had proposed a two-month truce in exchange for the release of all the 100-plus hostages still held in Gaza. On Tuesday, The Wall Street Journal said Hamas was now open to releasing some of the hostages in exchange for a pause in the fighting. Read more on how Israel and Hamas may be inching toward a deal to end the war.

Persons: —, Ofer Shelah, Axios, Israel, David Barnea Organizations: Qatar —, Hamas, Israel’s Institute for National Security Studies, CNN, Street Journal, Reuters Locations: Gaza, Israel, Qatar

☆ China's defense ministry rips NATO and says it's 'like a walking war machine'
▼ + stars: | 2024-01-26 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +2 min

China's defense ministry called NATO "a walking war machine." AdvertisementChina's defense ministry has accused NATO of being a warmonger. "It's fair to say NATO is like a walking war machine, wherever it goes, there will be instability," defense ministry spokesperson Wu Qian said of the military alliance during a press conference in Beijing on Thursday. Wu's comments came in response to journalists' questions about NATO's ongoing military exercise, Steadfast Defender 2024. "NATO is a military organization, the issue of our relationship with China isn't just a military issue," Macron said after a NATO meeting in 2021.

Persons: Wu Qian didn't, —, Wu Qian, Wu's, Wu, Emmanuel Macron, Macron, China isn't Organizations: NATO, Service, Asia, China, Business Insider Locations: Japan, South Korea, Beijing, China, Asia, Atlantic

☆ Gaza endgame: Inching toward a deal to end the war
▼ + stars: | 2024-01-25 | by ( Elliott Gotkine | ) edition.cnn.com time to read: +5 min

On Monday Axios reported Israel had proposed a two-month truce in exchange for the release of all the 100-plus hostages still held in Gaza. The sticking point there appears to be that Hamas wants a “package deal” which would include a second-phase agreement to end the war. For now, though, such talk remains moot, with an Israeli official telling CNN there’s no concrete deal on the table. “But at the same time we can’t gamble on the future of Israel [by leaving Hamas in control of Gaza]. Any deal Israel is looking to seal, says Ziv, would be more likely to come into effect once the Khan Younis operation is complete.

Persons: Ofer Shelah, Axios, Israel, David Barnea, Yahya, Shelah, ”, Mohammed bin Abdulrahman, Thani, Antony Blinken, it’s, wouldn’t, Yasser Arafat, Israel doesn’t, Benjamin Netanyahu’s, Aviva Siegel, Netanyahu, Israel Ziv, there’s, ” Ziv, Khan Younis, Ziv, There’s, Israel’s, Gadi, “ Organizations: CNN, Hamas, Israel’s Institute for National Security Studies, Street Journal, Reuters, Qatari, ’, Israel, Israel Democracy Institute Locations: Gaza, Israel, Qatar, Mohammed bin Abdulrahman Al, Beirut, Tunis, United States, “ Israel

☆ Fed’s Barkin: March rate cut isn’t out of the picture. ‘You make the call when you get to the meeting’
▼ + stars: | 2024-01-22 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +5 min

The positive economic developments as well as Fed officials’ forecasts for at least three rate cuts this year had investors eying a March pivot. Meanwhile, Barkin — who will also be voting on Fed policy decisions at meetings this year — isn’t ruling March out entirely. For Barkin, “the breadth of inflation settling” and “the consistency of inflation settling” matter in his evaluation of whether the inflation rate is approaching the Fed’s target. Unlike many Fed officials, Barkin does not have a PhD in economics but has an MBA and a law degree. Investors will be paying close attention to any hints of the timing of rate cuts in the central bank’s latest statement and Fed Chair Jerome Powell’s press conference.

Persons: Tom Barkin, Barkin, eying, Christopher Waller, “, Loretta Mester, Barkin —, isn’t, ” Barkin, ”, ” ‘ There’s, John Williams, Jerome Powell, Williams, “ There’s, Jerome Powell’s Organizations: New, New York CNN, Richmond Federal, CNN, Fed, Cleveland Fed, FactSet, Richmond Fed, McKinsey, ” New York Fed, Raleigh Chamber of Commerce, That’s Locations: New York

At the heart of Iran’s aversion to a major conflict are the domestic issues that have been preoccupying the regime. Iran is also facing an economic crisis because of corruption, chronic fiscal mismanagement and sanctions imposed because of its nuclear infractions. At the time, Mr. Khamenei worried that unless the regime got the process right, its Western and domestic enemies would use the vacuum at the top to overthrow the young theocracy. Today, Iran’s Assembly of Experts, a body of 88 elderly clerics, is constitutionally empowered to select the next supreme leader. At a time when the bomb seems tantalizingly close, Mr. Khamenei is unlikely to jeopardize that progress by conduct that might invite a strike on those facilities.

Persons: Ali Khamenei, Mahsa, Ruhollah Khomeini, Khamenei, Ebrahim Raisi, Ahmad Khatami, Rahim Tavakol, Mr Organizations: Islamic, Experts Locations: Islamic Republic, Iran, Republic, Iran’s, Ukraine, Gaza, Tehran

TOKYO (AP) — Asian shares traded mixed Thursday as pessimism spread among investors about any imminent interest rate cut in the United States. Wall Street slipped following another signal that it may have gotten too optimistic about when the Federal Reserve will deliver the cuts to interest rates. Yields climbed after a report showed sales at U.S. retailers were stronger in December than economists expected. Higher yields can crimp profits for companies, while also making investors less willing to pay high prices for stocks. Higher yields hurt all kinds of investments, and high-growth stocks tend to be some of the hardest hit.

Persons: Australia's, Korea's Kospi, Seng, Brent, Stan Choe, Yuri Kageyama Organizations: TOKYO, Nikkei, Shanghai, Federal Reserve, Dow Jones, Nasdaq, U.S, Treasury, Amazon, Fed, Traders, CME Group, European Central Bank, U.S . Bancorp, Sporting Goods, Spirit Airlines, JetBlue Airways, JetBlue, U.S ., AP Locations: United States, Hong, U.S, New York

HONG KONG (AP) — China published youth unemployment data Wednesday for the first time since the jobless rate hit a record high in June last year, using a new method that showed an apparent improvement. China announced a 14.9% jobless rate for people between 16 and 24 in December, using the new method, which excludes students. The statistics bureau stopped publishing the politically sensitive figure last year, after it reached 21.3% in June. It said that the 16 to 24-year-old population includes some 62 million school students, over 60% of people that age. China’s overall urban unemployment rate stood at 5.1% in December, inching up slightly from 5.0% for the months of September through November.

Persons: It's, inching Organizations: National Bureau of Statistics Locations: HONG KONG, China, China’s

☆ Saudi Arabia isn’t ruling out befriending Israel. But it may come at a higher price
▼ + stars: | 2024-01-15 | by ( Nadeen Ebrahim | ) edition.cnn.com time to read: +70 min

Fatima Shbair/AP Mourners collect the bodies of Palestinians killed in an Israeli airstrike in Khan Younis, Gaza, on December 24. Ilia Yefimovich/dpa/picture-alliance/AP Relatives and friends bid farewell to the body of Al Jazeera camera operator Samer Abu Daqqa in Khan Younis, Gaza, on December 16. Mahmud Hams/AFP/Getty Images Israeli soldiers form an honor guard at the funeral of Israeli reserve soldier Master Sgt. Mohammed Saber/EPA-EFE/Shutterstock Children use candles for lighting in Khan Younis, Gaza, on Friday, October 20. Maya Alleruzzo/AP A boy carries salvaged belongings from the wreckage of his family's home in Khan Younis, Gaza, on October 11.

Persons: UAE CNN —, Antony Blinken, ” Blinken, ”, “, “ There’s, ” Prince Khalid bin Bandar, ” Ali Shihabi, Shihabi, Israel, Blinken, Evelyn Hockstein, Benjamin Netanyahu, Joe Biden, Abraham, Biden, Yousef Al Otaiba, Israel “, ” Otaiba, Prince Mohammed bin Salman, Firas Maksad, Abir, Prince Khalid, Maksad, Jamal Khashoggi, ” Maksad, ” Prince Khalid, Isaac Herzog, Oded, Abed Rahim Khatib, Noam Galai, Majdi, Sufian Dagash, Ohad, Abed Zagout, Harel Ittah, Ariel Schalit, Khan Yunis, Stringer, Elisha Yehonatan Lober, Mount Herzl, Maja Hitij, Fatima Shbair, Ahmad Hasaballah, Mohammed Salem, Yaacov Elian, Boris Dunavetski, Amir Levy, Mohammed Abed, Mahmud Hams, Alon Lulu Shamriz, Ilia Yefimovich, Abu Daqqa, Khan, Khan Younis, Ben Shelly, Clodagh Kilcoyne, Eviatar Cohen, Mostafa Alkharouf, Mohammed Dahman, Ibraheem Abu Mustafa, Atef Safadi, Gal Meir Eisenkot, Eisenkot, Gadi Eisenkot, Leo Correa, Alexi Rosenfeld, Alleruzzo, Amir Cohen, Gil Cohen, Menahem Kahana, Sergeant Aschalwu Sama, Tsafrir, John MacDougall, Ahed Tamimi, Nasser Nasser, Viktor, Helena Brodski, Kiril Brodski, Ammar Awad, Jack Guez, Jabel Mukaber, Mahmoud Illean, Alexander Ermochenko, Younis, Mustafa Hassona, Asher, Raz, Doron, Schneider, Jaafar Ashtiyeh, Majed Al, Ansari, Mohammed Hajjar, Said Khatib, Jalaa Marey, Victor R, Liron Snir, James Oatway, Ashraf Amra, Ahmad Gharabli, Rizek Abdeljawad, Major Jamal Abbas, Shir Torem, Alexi J . 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