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☆ CNBC Daily Open: Markets fall as the Fed shows no sign of pausing interest rate hikes
▼ + stars: | 2023-02-23 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Hence, interest rates need to continue rising. Despite Fed hawkishness, signs point to a no-landing scenario, which should give investors some comfort. Subscribe here to get this report sent directly to your inbox each morning before markets open.

☆ Premarket stocks: It's bulls vs. hawks on Wall Street
▼ + stars: | 2023-02-23 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +9 min

New York CNN —There’s a new tussle brewing in the animal kingdom of Wall Street: Hawks vs. Bulls. The question is, will the Fed be able to break through and convince Wall Street to finally give in to market pessimism? “Setting aside what financial market participants expected us to do, I saw a compelling economic case for a 50 basis-point increase,” she said at an event in Florida. Asda told CNN that it was temporarily limiting purchases of some items to three packs per customer. Morrisons told CNN that it had imposed a cap of two packs per customer on the same products.

☆ Speculative bets are cool again and Reddit's army of retail investors is partying like it's 2021
▼ + stars: | 2023-02-23 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

And yet, despite the dip this week, markets right now are brimming with bullishness — and Reddit-loving retail investors are partying like it's 2021. Retail investors are rebuffing Jerome Powell in piling into speculative assets. Remember, at the start of the pandemic, government stimulus and near-zero interest rates gave retail investors the perfect opportunity to lay down speculative bets. "With all of these headwinds, retail investors are jumping in on maybe some ill-conceived optimism," Goldman said. But economic data be damned, retail investors are still piling into the riskiest corners of the market.

☆ U.S. dollar strengthens as Fed minutes signal higher rates
▼ + stars: | 2023-02-22 | by ( Laura Matthews | ) www.reuters.com time to read: +3 min

The dollar index was up 0.40% at 104.57, easing off the high of 104.59 it reached earlier in the day. "The Fed minutes were just released indicating that a few officials could have supported a 50-bps hike in the last meeting, though most backed the 25bps outcome. "The theme throughout February has been a bias towards higher rates, and these minutes are consistent with that perspective." But Fed funds futures traders are now pricing the fed funds rate to reach 5.38% in July, and remaining above 5% all year. "Stronger-than-expected U.S. data releases since the start of this month have reinforced the Fed's messages about stronger for longer interest rates."

Asian stocks are on course for their fourth down week in a row, the MSCI World index and the S&P 500 are eyeing their biggest weekly fall this year, and U.S. breakeven inflation rates are sailing up to 2.50% and beyond. A lower oil price, of course, is disinflationary, and base effects right now also mean that Brent crude is 17% cheaper today than it was a year ago. chartMinutes from the Fed's Jan. 31 to Feb. 1 policy meeting showed that most rate-setters voted to slow the pace of tightening. The Bank of Korea is expected to leave interest rates on hold at 3.50% on Thursday, and leave it there for the rest of the year, according to a Reuters poll. Consumer price inflation in January was 5.20%, well over double the central bank's 2.00% target and unlikely to return there for at least another year, economists reckon.

☆ Global shares, U.S. Treasury yields fall after Fed minutes
▼ + stars: | 2023-02-22 | by ( Chibuike Oguh | ) www.reuters.com time to read: +3 min

U.S. Treasury yields retreated after surging to three-month highs. Benchmark 10-year yields made gains but were still lower at 3.9175% after the release of the minutes. The U.S. Treasury yield curve that measures the gap between yields on two- and 10-year Treasury notes , seen as an indicator of economic expectations, remained deeply inverted at minus 77.40 basis points. Oil prices fell 2% on growing concerns over oil demand as the Fed aims to keep hiking rates to reduce surging consumer prices. Gold prices fell as the U.S. dollar gained.

☆ Global shares, U.S. Treasury yields, fall ahead of Fed minutes
▼ + stars: | 2023-02-22 | by ( Chibuike Oguh | ) www.reuters.com time to read: +3 min

[1/3] The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, February 16, 2023. U.S. Treasury yields retreated after surging to three-month highs. The U.S. Treasury yield curve that measures the gap between yields on two- and 10-year Treasury notes , seen as an indicator of economic expectations, remained deeply inverted at minus 77.40 basis points. Oil prices fell 2% on growing concerns over oil demand as the Fed aims to keep hiking rates to reduce surging consumer prices. Reporting by Chibuike Oguh in New York; Editing by Chris Reese and Sharon SingletonOur Standards: The Thomson Reuters Trust Principles.

☆ Wall St slightly higher as investors focus on Fed minutes
▼ + stars: | 2023-02-22 | by ( Johann M Cherian | ) www.reuters.com time to read: +3 min

U.S. stocks shed more than 2% on Tuesday after a rebound in business activity in February stoked fears of interest rates staying higher for longer. New York Fed President John Williams, a voting member of the rate-setting committee this year, is scheduled to speak later in the day. Following a market rout in 2022, the three major indexes logged monthly gains in January as investors hoped the Fed would pause its rate hikes and perhaps pivot around year-end. However, stocks have had a volatile run in February, leaving the Dow flat for the year as traders priced in higher interest rates for longer, assuming that inflation remains higher in a sturdy economy. The S&P index recorded three new 52-week highs and one new lows, while the Nasdaq recorded 21 new highs and 92 new low.

Survey data released on Tuesday showed U.S. business activity unexpectedly rebounded in February to reach its highest in eight months. He is the latest Fed official to signal that higher interest rates is likely needed to bring inflation back to desired levels. "Stronger-than-expected U.S. data releases since the start of this month have reinforced the Fed's messages about stronger for longer interest rates." The dollar index up 0.1% at 104.19, but off the high of 104.34 reached earlier in the day. A blockbuster U.S. employment report in early February sparked the rebound in the dollar, which has been helped along by a series of strong data releases.

☆ Wall St set for higher open as investors focus on Fed minutes
▼ + stars: | 2023-02-22 | by ( Johann M Cherian | ) www.reuters.com time to read: +3 min

SummarySummary Companies Fed minutes due at 2:00 p.m. U.S. stocks shed more than 2% on Tuesday as investors worried that a rebound in U.S. business activity in February could mean interest rates might need to stay higher for longer. ET (1900 GMT), are expected to detail the breadth of debate at the central bank over how much further interest rates may need to be raised to slow inflation. However, stocks have had a volatile run in February as traders priced in higher interest rates for longer, considering inflation remains above the 2% target in the face of a sturdy economy. Money market participants expect rates to peak at 5.35% by July and stay around those levels till the end of 2023.

☆ Bullard calls on Fed to get inflation under control this year
▼ + stars: | 2023-02-22 | by ( ) www.reuters.com time to read: +1 min

Feb 22 (Reuters) - The Federal Reserve needs to get inflation on to a sustainable path down toward its 2% goal this year or else risk a repeat of the 1970s, when interest rates had to be repeatedly ratcheted up, St. Louis Fed President James Bullard said on Wednesday. "If inflation doesn't start to come down, you risk this replay of the 1970s where you had 15 years where you're trying to battle the inflation drag," Bullard told broadcaster CNBC in an interview. "... That's why I've said let's be sharp now, let's get inflation under control in 2023 and it's a good time to fight inflation because the labor market is still strong." Bullard also repeated his view that a Fed policy rate in the range of 5.25% to 5.5% would be adequate for the task. Reporting by Lindsay Dunsmuir; editing by John Stonestreet and Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.

☆ Futures stable after Wall St rout on rate worries
▼ + stars: | 2023-02-22 | by ( ) www.reuters.com time to read: +2 min

ET (1900 GMT), is anticipated to detail the breadth of debate at the central bank over how much further interest rates may need to be raised to slow inflation. Money market participants expect rates to peak at 5.35% by July and stay around those levels till the end of 2023. ET, Dow e-minis were up 26 points, or 0.08%, S&P 500 e-minis were up 2.5 points, or 0.06%, and Nasdaq 100 e-minis were up 12 points, or 0.1%. St. Louis Fed President James Bullard said rates will have to go north of 5% to tame inflation. Reporting by Johann M Cherian and Medha Singh in Bengaluru; Editing by Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.

☆ Fed's James Bullard pushes for faster rate hikes, sees 'good shot' at beating inflation
▼ + stars: | 2023-02-22 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

St. Louis Federal Reserve President James Bullard expressed confidence that the central bank can beat inflation and advocated Wednesday for stepping up the pace in the battle. "It has become popular to say, 'Let's slow down and feel our way to where we need to be.' But Bullard said the more aggressive move would be part of a strategy that he thinks ultimately will be successful. "Our risk now is inflation doesn't come down and reaccelerates, and then what do you do? Let's be sharp now, let's get inflation under control in 2023."

☆ The economy is stronger than previously expected and markets are repricing to adjust to blowout data, Fed President Bullard says
▼ + stars: | 2023-02-22 | by ( Morgan Chittum | ) www.businessinsider.com time to read: +3 min

St. Louis Fed President James Bullard says the US economy is proving more resilient than the central bank thought. Bullard says strong labor market data has caused investors to prepare for further tightening. Bullard says markets are reacting to this "blowout" data, which indicates that US economic growth has not slowed enough to pull back on rate hikes. "You have a very strong labor market combined with more momentum coming out of the second half of 2022 than we previously thought," Bullard told CNBC's 'Squawk Box' on Wednesday. "Our risk now is inflation doesn't come down and reaccelerates, and then what do you do?"

☆ Jim Cramer's top 10 things to watch in the stock market Wednesday: Fedspeak, stocks bounce, Palo Alto beats
▼ + stars: | 2023-02-22 | by ( Jim Cramer | ) www.cnbc.com time to read: +5 min

As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. ET: Q&A with Jim and Jeff Marks on general investing, market thoughts, education11:30-12:15 p.m. ET: Jim and Jeff discuss the portfolio (Part 2)2:15-2:45 p.m.

☆ St. Louis Fed's James Bullard pushes for faster rate hikes
▼ + stars: | 2023-02-22 | 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 EmailSt. Louis Fed's James Bullard pushes for faster rate hikesJames Bullard, St. Louis Federal Reserve president, joins ‘Squawk Box’ to discuss if he is happy with recent moves in Treasury yields, where he's at in terms of a terminal federal funds rate and more.

☆ St. Louis Fed Pres. Bullard: U.S economy is stronger than we thought
▼ + stars: | 2023-02-22 | 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 EmailSt. Louis Fed Pres. Bullard: U.S economy is stronger than we thoughtSt. Louis Federal Reserve President James Bullard joins CNBC's 'Squawk Box' to discuss whether he is happy with recent moves in treasury yields, where he is at regarding a terminal federal funds rate, and more.

☆ Fed minutes show members resolved to keep fighting inflation
▼ + stars: | 2023-02-22 | by ( Jeff Cox | ) www.cnbc.com time to read: +4 min

Consequently, the Fed approved a 0.25 percentage point rate increase that was the smallest hike since the first of this tightening cycle in March 2022. But the minutes said that the reduced pace came with a high level of concern that inflation was still a threat. A "few" members said they wanted a half-point, or 50 basis point, increase that would show even greater resolve to get inflation down. Since the meeting, Fed officials have emphasized the need to stay vigilant even while expressing optimism that recent inflation data has been encouraging. "Participants observed that the uncertainty associated with their outlooks for economic activity, the labor market, and inflation was high," the minutes said.

☆ James Bullard's comments don't change market dynamics: Kayne Anderson Rudnick's Julie Biel
▼ + stars: | 2023-02-22 | 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 EmailJames Bullard's comments don't change market dynamics: Kayne Anderson Rudnick's Julie BielJulie Biel, portfolio manager at Kayne Anderson Rudnick, joins 'Squawk Box' to discuss St. Louis Federal Reserve President James Bullard's recent comments, how Biel would be positioned in today's markets, and more.

☆ US stocks trade mixed as Fed minutes show central bank willing to push on with rate hikes to fight inflation
▼ + stars: | 2023-02-22 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

US stocks were mixed on Wednesday as the Fed minutes showed the central bank is willing to push ahead with further interest rate hikes. The Fed remains concerned that inflation is too high and needs to be tamed with more tightening. The minutes indicated that the Fed is highly likely to continue with its tightening, and that some Fed members support 50-basis-point rate hikes rather than the 25-basis-point hike that was implemented earlier this month. Over the past week, Fed Presidents James Bullard and Loretta Mester advocated for a return to 50-basis-point rate hikes. Bullard said he wants to see the fed funds rate rise to just below 5.5%, compared to its current level of 4.6%.

☆ Wall St inches higher as investors focus on Fed minutes
▼ + stars: | 2023-02-22 | by ( Johann M Cherian | ) www.reuters.com time to read: +3 min

SummarySummary Companies Fed minutes due at 2:00 p.m. U.S. stocks shed more than 2% on Tuesday after a rebound in business activity in February stoked fears of interest rates staying higher for longer. "We expect all indicators to point to the Fed remaining hawkish in its inflation fight." However, stocks have had a volatile run in February as traders priced in higher interest rates for longer, considering inflation remains elevated in the face of a sturdy economy. Money market participants expect rates to peak at 5.35% by July and stay around those levels till the end of 2023.

While the Fed settled for a quarter-percentage-point rise, it also said "ongoing increases" would push the policy rate as high as needed. Recent data also showed inflation continuing to slow, though by less than expected. Today's 4.5%-4.75% policy rate is its highest since the eve of the housing crisis in 2007. "I don't see that indicating to me that we're slowing the economy," Fed Governor Michelle Bowman said of recent data, including strong retail sales and job growth. Richmond Fed's Barkin, by contrast, said he took little "signal" from recent data, anticipating inflation would continue falling.

☆ Dow dives 697 points as bond yields jump on concerns the Fed will keep raising rates
▼ + stars: | 2023-02-21 | by ( Carla Mozée | ) www.businessinsider.com time to read: +3 min

US stocks dropped Tuesday as investors fret that the Fed will keep rates elevated. Sign up for our newsletter to get the inside scoop on what traders are talking about — delivered daily to your inbox. The index marked a second weekly loss last week, stung after regional Fed presidents Loretta Mester and James Bullard said more interest rate hikes may be needed to tame still-hot inflation. Minutes from the Fed's meeting in February are due Wednesday and the Fed's preferred inflation gauge, the PCE, is due Friday. Bank of America has also sounded the alarm on investors potentially wiping out the S&P 500's 2023 gain by early March.

☆ US stocks end mixed as Fed officials sound off on inflation fight and path of future rate hikes
▼ + stars: | 2023-02-17 | by ( Morgan Chittum | ) www.businessinsider.com time to read: +3 min

US stocks closed mixed as top Fed officials weighed in on what it will take to rein in inflation. Richmond Fed President Thomas Barkin said he supports raising rates in 25 basis-point increments. Elsewhere, Fed Governor Michelle Bowman said inflation remains "much too high" and that the central bank should continue raising rates. On Thursday, St. Louis Fed President James Bullard said delivering another rate increase will "lock in" easing inflation, while Cleveland Fed President Loretta Mester said she had seen a "compelling economic case" for delivering another half-point hike in the fed funds rate at the previous central bank meeting. For oil, "one major upside risk to prices remains China and its recovery from the transition to living with COVID.

☆ CNBC Daily Open: Markets drop on hot economy — and chance of 0.5% interest rate hikes
▼ + stars: | 2023-02-17 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

James Bullard, president of Federal Reserve Bank of St. Louis, at the Jackson Hole economic symposium, in Moran, Wyoming, U.S., on Thursday, Aug. 22, 2019. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. With each hotter-than-expected inflation report, markets rose. Cleveland Fed President Loretta Mester echoed Bullard's hawkishness, saying she wants higher rate increases. Subscribe here to get this report sent directly to your inbox each morning before markets open.

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