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☆ 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

☆ Stock market today: Indexes hover near records ahead of Fed Chair Powell's testimony
▼ + stars: | 2024-07-09 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

Stock indexes are hovering near record highs ahead of the testimony of Fed Chair Jerome Powell. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Meanwhile, the stock market has continued to strike new highs with help from its tech sector, with Nvidia rising 2% on Monday. Here's where US indexes stood at the 9:30 a.m. opening bell on Tuesday:AdvertisementHere's what else happened today:In commodities, bonds, and crypto:Advertisement

Persons: Jerome Powell, —, Powell, Michael Barr, Michelle Bowman Organizations: Service, Nasdaq, Federal, Nvidia Locations: Here's

☆ Gold eases from May peak on profit taking
▼ + stars: | 2024-07-08 | by ( ) www.cnbc.com time to read: +2 min

A view of ingots of 99.99 percent pure gold, which are placed in a workroom, at Novosibirsk Refining Plant, Russia's leading gold refining and bar manufacturing plant, in Novosibirsk, Russia on Sept. 15, 2023. Spot gold fell 0.4% at $2,382.17 per ounce as of 0346 GMT, after rising to its highest level since May 22 on Friday. Traders are also pricing in a rising chance of a second rate cut in December. Elsewhere, top consumer China's central bank refrained from gold purchases to its reserves for a second consecutive month in June. "China may have paused their gold purchases, but it remains in demand overall.

Persons: We're, Kyle Rodda, CME's, Jerome Powell's, Powell, Matt Simpson, bullish, Simpson Organizations: Novosibirsk Refining Plant, Capital.com, Federal, Fed Locations: Novosibirsk, Russia, China

☆ Stock market today: Indexes test record highs as dovish jobs report sends bond yields lower
▼ + stars: | 2024-07-05 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

US stocks tested record highs on Friday after the June jobs report sent bond yields tumbling. The US economy added 206,000 jobs in June, but the unemployment rate ticked higher to 4.1%. The higher unemployment rate raised hopes for imminent interest rate cuts from the Federal Reserve. AdvertisementUS stocks tested record highs on Friday after the June jobs report sent bond yields lower. The April jobs report was also revised lower to 108,000 jobs added that month, down from the initial reading of 165,000.

Persons: —, Quincy Krosby, Krosby, Brent, Bitcoin Organizations: Federal Reserve, Service, Federal, Treasury, Manufacturing, PMI Locations: Texas

☆ Stock market today: US stocks close at record highs after dovish June jobs report
▼ + stars: | 2024-07-05 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

The June jobs report showed 206,000 jobs added to the economy, slightly above estimates. "To us, the message is the labor market is slowing," Fundstrat's Tom Lee said of the June jobs report. AdvertisementUS stocks closed at fresh record highs on Friday after a dovish June jobs report. Both indexes finished the week at record highs, while the Dow Jones Industrial Average has yet to hit its record high reached in May. AdvertisementThe April jobs report was also revised lower to 108,000 jobs added that month, down from the initial reading of 165,000.

Persons: Tom Lee, —, Steven Blitz, Lombard, JPMorgan's David Kelly Organizations: Service, Nasdaq, Dow Jones, Federal Reserve, Fed, GlobalData

☆ Stocks making the biggest moves midday: Paramount Global, Tesla, MGM Resorts and more
▼ + stars: | 2024-07-03 | by ( Sean Conlon | ) www.cnbc.com time to read: +2 min

Paramount Global's special committee is reviewing and voting on the agreement , CNBC reported, citing a person familiar with the matter. Tesla — The electric vehicle company jumped another 6%, bringing its week-to-date gains to 24%. Constellation Brands — Shares of the beer and wine company fell 2.5% after its first-quarter sales came in just below expectations. Silver miners were up 4.3% on Wednesday and on pace for their best day since May 17, while gold miners were up 3.76% and on pace for their best day since March 20. Copper miners also gained 4%, tracking for their best day since May 17.

Persons: Tesla, Dan Ives, LSEG, Jerome Powell, —, Samantha Subin, Yun Li, Lisa Kailai Han, Michelle Fox, Gina Francolla Organizations: Paramount, Skydance Media, National Amusements, CNBC, Elon, MGM Resorts, MGM, Constellation, U.S, Federal, Constellation Energy, Reuters, Pennsylvania Locations: Tuesday's

☆ Gold prices lingers near two-week low as traders eye U.S. inflation data
▼ + stars: | 2024-06-27 | by ( ) www.cnbc.com time to read: +2 min

Gold prices steadied on Thursday after falling to a two-week low in the previous session, while investors awaited U.S. inflation data for insights into how soon the Federal Reserve will cut interest rates. Gold prices steadied on Thursday after falling to a two-week low in the previous session, while investors awaited U.S. inflation data for insights into how soon the Federal Reserve will cut interest rates. Data due this week include the U.S. first-quarter gross domestic product estimates are due at 1230 GMT and the personal consumption expenditures inflation data on Friday. "Gold prices remain tangled in a tug of war between a less dovish Fed and high levels of geopolitical tension," analysts at BMI said in a note dated Wednesday. "The main driver of easing gold prices in the longer term will be greater risk-on sentiment as the global economy recovers in the later part of the decade."

Persons: Tim Waterer, Michelle Bowman, Waterer Organizations: Federal Reserve, U.S, KCM Trade, U.S ., Fed, BMI Locations: .

☆ Bitcoin tumbles back to $60,000 to start the week
▼ + stars: | 2024-06-24 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +1 min

Bitcoin continued its descent to $60,000 on Monday. The price of the flagship cryptocurrency was last down by more than 4% at $61,211.00, according to Coin Metrics. Digital asset investment products notched a second consecutive week of outflows, according to CoinShares. Last week crypto investment products saw their lowest trading volumes globally since the U.S. bitcoin ETFs launched in January. "We have now seen $1.2 billion of outflows from crypto ETFs over the last two weeks which all began after the FOMC meeting.

Persons: Bitcoin, cryptocurrency, James Butterfill, Eleanor Gaywood Organizations: Metrics, CNBC Locations: U.S

☆ Europe stocks look set to extend gains after BOE rate hold, Swiss cut; UK retail sales beat forecast
▼ + stars: | 2024-06-21 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

Jack Taylor | Getty Images News | Getty ImagesLONDON — European stocks are heading for a cautiously higher open Friday as investors monitor a slew of central bank decisions and data releases. The pan-European Stoxx 600 index is on course for a weekly gain of more than 1.5%, its best performance since early May. Attention this week turned to central bank action, as the Swiss National Bank announced it would cut interest rates by 0.25 percentage points to 1.25%. The SNB became the first major central bank to cut rates during this cycle back in March. The Bank of England meanwhile kept interest rates unchanged at a 16-year high of 5.25%.

Persons: Jack Taylor Organizations: Getty, Equity, European Union Parliament, Reuters, Swiss National Bank, Bank of England Locations: Godalming, United Kingdom, France

☆ Dollar scales multi-week highs as other cenbanks more dovish than Fed
▼ + stars: | 2024-06-21 | by ( ) www.cnbc.com time to read: +3 min

Even so, Japan's top currency diplomat Masato Kanda stressed on Friday that Tokyo stands ready to take further "resolute" action against "speculative, excessive volatility". The dollar index was little changed at 105.66, on course for a slight weekly gain that would extend its winning streak to three weeks. Sterling was flat at $1.2657, sticking close to the $1.2655 low from Thursday, a level last seen on May 17. The BoE kept rates on hold, but some policy makers said the decision not to cut was "finely balanced". The European Central Bank kicked off its rate cutting cycle earlier this month.

Persons: Tony Sycamore, Sycamore, Masato Kanda, Sterling, BoE Organizations: U.S, Federal, Swiss, Swiss National Bank, Bank of England, Bank of, IG, U.S . Treasury, European Central Bank, Fed Locations: Japan, China, Tokyo

☆ Bitcoin's recent weakness signals an imminent S&P 500 correction, according to Stifel
▼ + stars: | 2024-06-21 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Bitcoin's recent weakness could be signaling an upcoming correction in stocks, according to Stifel's chief equity analyst Barry Bannister. On Thursday, the S & P 500 briefly touched 5,500 for the first time after notching its most recent record close earlier in the week. "Weakening bitcoin … signals an imminent S & P 500 summer correction and consolidation phase," he said. "With the S & P 500 now at the very high end (2 sigma) of bitcoin post-peak cycle overlays since 2011, we have yet another strong signal that an imminent S & P 500 correction is possible." "Past bubbles since the 19th century indicate the S & P 500 could well rise to ~6,000 at year-end 2024 and then round trip to near where 2024 began five quarters later, by ~1Q26 (S & P 500 ~4,800)."

Persons: Barry Bannister, Bitcoin, Bannister, CNBC's, it's, Stifel Organizations: Nvidia, Nasdaq

☆ Gold ticks up as Fed rate cut bets burnish appeal
▼ + stars: | 2024-06-19 | by ( ) www.cnbc.com time to read: +2 min

old prices edged higher on Wednesday after softer U.S. retail sales data boosted expectations that the Federal Reserve will cut interest rates this year. Gold prices edged higher on Wednesday after softer U.S. retail sales data boosted expectations that the Federal Reserve will cut interest rates this year. Data released on Tuesday showed U.S. retail sales barely rose in May, suggesting that economic activity remained lackluster in the second quarter. Further economic weakness may offer a lift for gold prices." Gold prices have entered a consolidation phase after hitting a record high of $2,449.89 on May 20.

Persons: Yeap Jun Rong, Tim Waterer Organizations: Federal Reserve, U.S, Federal, KCM

☆ David Zervos: The key policy differences between Trump and Biden and what they mean for markets
▼ + stars: | 2024-06-18 | by ( David Zervos | Jefferies Chief Market Strategist | ) www.cnbc.com time to read: +6 min

By no means am I interested in tackling any impact policy differences may have upon non-market related subjects. Monetary policy So let's begin with monetary policy. Fiscal policy Now let's turn to fiscal policy. Trade policy Trade policy is easy. Regulatory policy Finally, the big kahuna, regulatory policy.

Persons: Donald Trump, Joe Biden, Clinton, Christopher Waller, Michelle Bowman —, Jerome Powell, Janet Yellen, Powell, Biden, Lisa Cook, Philip Jefferson, Bill Dudley's, Covid, Trump, Cato, Stocks Organizations: Trump, Federal Reserve, Fed, Trump Fed, Bloomberg, Democratic, Heritage, AEI, Biden Locations: China

☆ Gold treads water ahead of U.S. inflation test, Fed decision
▼ + stars: | 2024-06-12 | by ( ) www.cnbc.com time to read: +2 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 were flat on Wednesday as investors awaited the U.S. Federal Reserve's policy announcement for insights into how soon it will cut interest rates this year and the May inflation report due later in the day. "Gold prices have been treading lightly amid the waiting game for greater cues on the Fed's policy path. Any lean towards two rate cuts could be perceived as a more dovish take, which may see gold prices head higher," said IG market strategist Yeap Jun Rong. Demand for gold in Asia is surging despite prices hovering near the record highs it hit in May, industry officials said.

Persons: Yeap Jun Rong, Jerome Powell's, Tim Waterer Organizations: Co, U.S, Investors, Fed, Strong U.S, People's Bank of, U.S ., KCM Locations: Bangkok, Thailand, U.S . Federal, China, People's Bank of China, Asia

☆ Currency market steadies ahead of U.S. inflation test, Fed decision
▼ + stars: | 2024-06-12 | by ( ) www.cnbc.com time to read: +3 min

Economists polled by Reuters expect headline consumer price inflation to ease to 0.1% from 0.3% last month, and core price inflation to remain steady on the month at 0.3%. Powell is likely to strike a relatively dovish tone at the press conference, however, given disappointing growth indicators since the last Fed meeting, Williams said. Japanese wholesale prices rose 2.4% in the year to May, Bank of Japan data showed on Wednesday, beating market forecasts for a 2% increase. The yen held steady at 157.16 per greenback after slipping to its lowest since June 3 at 157.40 the previous day. While Japan's central bank will likely discuss bond buying cuts to pre-empt yen selling pressure, dollar/volatility this week largely depend on Wednesday's U.S. CPI and Fed meeting, he added.

Persons: Jerome Powell's, Kieran Williams, Powell, Williams, Emmanuel Macron's, Sterling, Wei Liang Chang, bitcoin Organizations: U.S, Consumer, Fed, Reuters, Asia FX, InTouch, Bank of Japan, Bank of, DBS, CPI Locations: Czech, U.S, Asia, Bank of Japan

☆ Stock market today: S&P 500 closes at a record high as investors await the latest Fed decision, May CPI
▼ + stars: | 2024-06-11 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

The S&P 500 and Nasdaq notched new highs Tuesday as investors geared up for the Fed's policy decision. Shares of Apple soared as much as 7% as Wall Street cheered its WWDC event. AdvertisementUS stocks were mostly higher Tuesday, with the S&P 500 and Nasdaq hitting all-time highs as traders looked ahead to the Federal Reserve's latest policy decision. If so, that will be below the recent highs of 3.7% from September and October, but still well above the 3% recorded last July, and way above the Fed's own 2% target. The firm's unveiled developments were met with fanfare on Wall Street, and the stock jumped as much as 7%.

Persons: —, Jerome Powell, David Morrison, Apple Organizations: Nasdaq, Apple, Service, Federal

☆ Here's what investors expect from the stock market after the Fed decision Wednesday
▼ + stars: | 2024-06-11 | by ( Sarah Min | ) www.cnbc.com time to read: +5 min

Broadly speaking, market observers expect that investors have already priced in how the Fed may proceed with interest rates. So long as this week's Fed meeting sticks to the consensus view, many observers expect stocks will breathe a sigh of relief. "This is one of the busiest of the days on Wednesday," said Art Hogan, chief market strategist at B.Riley Financial. Possibility for surprise Of course, the Fed meeting still has the potential to surprise investors. ET Wednesday while the Fed meeting wraps up at 2:00 p.m. and Powell's press conference starts a half hour later.

Persons: shrugging, Hogan, Dave Sekera, it's, Riley's Hogan, ChairJerome Powell, Powell, hasn't, Brian Nick, Nick, —, I'd, Jeff Klingelhofer, Klingelhofer, Joshua Roberts Organizations: Federal Reserve, B.Riley, Morningstar, Fed, Macro, Bureau of Labor Statistics, Nvidia, Thornburg Investment Management, Federal Locations: U.S, Washington ,

☆ Gold holds steady after biggest sell-off in 3-1/2 years
▼ + stars: | 2024-06-10 | by ( ) www.cnbc.com time to read: +2 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 held steady on Monday after a sharp sell-off in the previous session on stronger-than-expected U.S. jobs data, with investors awaiting the Federal Reserve policy meeting this week for further direction. The jobs report led traders to once again shift their expectations of when the Fed will cut rates and by how much. The dollar hit a more than one-week high against its rivals, while the benchmark U.S. 10-year Treasury yields scaled its highest since June 3. Spot silver rose 0.9% to $29.43 per ounce, platinum was up 0.8% at $971.10 and palladium gained 1.1% to $922.38.

Persons: Kelvin Wong, Jerome Powell, Wong Organizations: Co, Reserve, Asia Pacific Locations: Bangkok, Thailand, China, OANDA

☆ The Fed, May inflation, and Apple are set to lead a massive week for the stock market
▼ + stars: | 2024-06-10 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

The May CPI report, crucial for Fed decisions on rate cuts, is set to be released Wednesday. This week has a Fed meeting, the May PPI, initial jobless claims, and a consumer-sentiment report. AdvertisementIt's shaping up to be a big week for the stock market, with a slew of economic data set to be released, along with a Fed meeting and an all-important Apple event. The Fed meetingThe Fed plans to announce its latest decision on interest rates on Wednesday at 2 p.m. Overall, Lee is feeling good about the prospects for higher stock prices this week amid the economic dataset's release.

Persons: Apple's, —, Apple, Tom Lee, Jerome Powell, Lee, it's Organizations: CPI, Service, Apple, Federal Reserve, Fed, University of Michigan

☆ Stock futures are little changed as traders look ahead to Fed decision, inflation data: Live updates
▼ + stars: | 2024-06-09 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

Traders and floor officials react to technical issues on the floor at the New York Stock Exchange on June 3, 2024. U.S. stock futures were little changed Sunday night after a winning week, as traders looked ahead to the Federal Reserve's interest rate decision and May inflation data. S&P 500 futures and Nasdaq 100 futures were flat. Markets are now pricing in just one rate cut this year, coming in November, according to the CME FedWatch tool. ... On the hawkish side is that the firm NFP and associated details suggest labor demand growth remains solid."

Persons: Macquarie's David Doyle Organizations: New York Stock Exchange, Dow Jones Industrial, Nasdaq, Dow, Nvidia, Apple's Worldwide

☆ The Fed's rate decision and May inflation data will be key tests for the stock market next week
▼ + stars: | 2024-06-07 | by ( Samantha Subin | ) www.cnbc.com time to read: +6 min

The next rate decision from the Federal Reserve coupled with May inflation data, both on Wednesday, will play key roles in how stocks perform next week — quite probably lending added volatility to an already jittery market. The Fed's rate decision All eyes are on the Fed next week and its rate decision that's set to come down at 2 p.m. Wednesday. But investors have tempered expectations since then amid a spate of stubborn inflation data. That makes May's consumer price index report due out before the bell Wednesday another key focal point for investors. Economists polled by Dow Jones are bracing for the consumer price index to rise 3.4% year over year and 0.1% on a monthly basis.

Persons: nonfarm, Kathryn Kaminski, Scott Wren, they've, it's, Tony Roth, Envestnet's Dana D'Auria, D'Auria, Dow Jones, Wells, Wren, John Belton, Apple, Jerome Powell, John Wiley Friday Organizations: Federal, Nvidia, Apple, Microsoft, GameStop, Dow, AlphaSimplex Group, Fed, Federal Open Market, European Central Bank, European Union, Wells Fargo Investment, Wilmington Trust's, CPI, Apple's Worldwide, Broadcom, Dave, Treasury, Signet Jewelers, University of Michigan Locations: Wells Fargo, Cupertino , California

☆ Dollar ebbs as markets await key global inflation reports
▼ + stars: | 2024-05-28 | by ( ) www.cnbc.com time to read: +3 min

In this photo illustration, a person is seen holding 100, 50, and 5 U.S. dollar bills in his hand. The dollar waned on Tuesday following a slight pick up in risk appetite, but it held tight ranges against its peers ahead of key inflation data from major economies this week that markets are looking to for guidance on the global interest rate outlook. The euro was a touch firmer at $1.0860 despite some dovish comments from European Central Bank policymakers on Monday and data showing German business morale stagnated in May. Down Under, the Aussie edged 0.03% higher to $0.6657, with the country's monthly consumer price index data also due on Wednesday. BOJ Governor Kazuo Ueda said on Monday the central bank will proceed cautiously with inflation-targeting frameworks, noting that some challenges are "uniquely difficult" for Japan after years of ultra-easy monetary policy.

Persons: Rodrigo Catril, Sterling, NAB's, Kazuo Ueda, bitcoin Organizations: U.S, European Central Bank, ECB, National Australia Bank, New Zealand, Down, Bank of Japan Locations: Asia, Britain, United States, U.S, Tokyo, Japan

☆ Gold prices are at yet another record high. That means rate cuts are coming soon
▼ + stars: | 2024-05-20 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Gold reached a new record of $2,454.20 per ounce on Monday as markets price in Fed rate cuts. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementGold set another record high on Monday as Wall Street readies for monetary policy to ease this year. Given that gold is a safe haven asset, rising international face-offs have prompted more investors to buy the bullion. Meanwhile, US sanctions on Russian reserves sparked central banks to snap up the metal at record pace.

Persons: Gold, —, Grzegorz Drozdz, David Miarrions Organizations: Service, P, Trade

☆ Why Jay Powell really wants to lower interest rates this September
▼ + stars: | 2024-05-20 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +9 min

It’s interesting to me that the equity market is cheering the idea that the Fed is going to be cutting rates. There tends to be a fine line between cutting rates and extending the economic cycle or cutting rates because the cycle is coming to an end (and the economy is softening). When the Fed is cutting rates, it’s cutting rates because a recession is about to happen, right? That’s why I say there’s a fine line between the Fed cutting to extend the cycle and the Fed cutting because a recession is about to happen. The Fed has been in this precarious space where they’re trying to avoid recession while lowering interest rates.

Persons: Dow, stoking, Bell, Tom Porcelli, Jerome Powell, Jay Powell, they’re, that’s, Donald, Goofy, Eva Rothenberg, Mickey Mouse, Snow White, Captain Hook, ”, Kate Shindle, “, Uber, Lyft, Jamie Long, Read Organizations: CNN Business, Bell, New York CNN — Markets, Federal Reserve, Fed, ’ Equity Association, Equity, National Labor Relations Board, Disneyland, Disney, ’ Equity, Walt Disney Company, Uber, Democratic, Minneapolis City Council Locations: New York, Anaheim , California, Minnesota, Minneapolis

☆ Meme stocks are having a moment, but the broader market is rallying as well
▼ + stars: | 2024-05-14 | by ( Bob Pisani | ) www.cnbc.com time to read: +2 min

Meme stocks are having a moment, but the broader market is rallying as well. While GameStop's 74% rally got a lot of attention Monday ( "meme stocks are back!" ), the evidence indicates that a broad rally is dragging up a lot of stuff that hasn't been performing well this year. The S & P 600 Small Cap advance/decline is also near the highest levels since December, while the S & P Mid Cap 400 advance/decline line is at a new high. So when you hear the tired old refrain, "meme stocks are back," take a look at the rest of the market.

Persons: hasn't, Marko Kolanovic, Morgan, BoE, Ryan Detrick Organizations: Fed, ECB, Intel, Nike, Comcast, ChargePoint Holdings, CRISPR Therapeutics, Unity Software, Carson Group, CNBC

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