DIRS.INFO The most relevant business & tech news

As a result, they’re almost sure to leave their key interest rate unchanged when their meeting ends Wednesday. Claudia Sahm, a former Fed economist, said she thinks a “soft landing,” in which the Fed manages to curb inflation without causing a recession, remains possible. But she cautioned that inflation might stay higher for longer than the central bank expects. Or, she suggested, the cumulative effects of the Fed's 11 rate hikes could ultimately tip the economy into recession. “I expect we’ll need to hold rates at restrictive levels for some time,” said Susan Collins, president of the Federal Reserve Bank of Boston.

Persons: they’re, Jerome Powell, Claudia Sahm, ” Sahm, “ They’re, ”, Christopher Waller, Powell, “, They're, Jose Torres, Susan Collins, Lorie Logan, William English Organizations: WASHINGTON, Federal, Wall Street, Fed, Fed's, Governors, CNBC, Interactive, Federal Reserve Bank of Boston, Dallas Fed, European Central Bank, Bank of England, Bank of Japan, “, Yale School of Management Locations: Jackson Hole , Wyoming, Ukraine, U.S

House Republicans, trying to win support from the far-right wing of the party, have loaded up their government funding packages with spending cuts and conservative policy priorities. Political Cartoons View All 1163 ImagesThe Senate strategy is being led by the first female duo to hold the top leadership spots on the Senate Appropriations Committee, Sens. But as the Senate grinds toward votes on their funding bills, they have won plaudits from leadership in both parties. A few GOP senators allied with conservatives in the House are working to slow the Senate’s work on appropriations bills. They have also loaded the House's appropriations bills with conservative policy wins, ensuring Democratic opposition.

Persons: Patty Murray, Susan Collins, “, ” Murray, Murray, Collins, Chuck Schumer, Mitch McConnell, Collins “, ” Collins, Kevin McCarthy, you’ve, ” McCarthy, Kay Granger, Rosa DeLauro, Conn, McCarthy, gavel, Joe Biden, Biden, ”, Hakeem Jeffries, Republican appropriators, Tom Cole of, ” “ We’re, Don Bacon Organizations: WASHINGTON, Capitol, House Republicans, GOP, Democrats, Associated Press, Republicans, Republican, Caucus, American, Democratic, “, Department of, Social Security Locations: United States, Ukraine, Maine, Washington, Kentucky, Kay Granger of Texas, Texas, New York, Tom Cole of Oklahoma

☆ Republicans soften on federal marijuana reform in a shift that could make it a reality
▼ + stars: | 2023-09-15 | by ( Julie Tsirkin | Liz Brown-Kaiser | ) www.cnbc.com time to read: +8 min

The SAFE Banking Act would make it lawful for legal marijuana businesses to use major financial and banking institutions. Smart Approaches to Marijuana Action, a political organization opposed to marijuana legalization, urged Tuberville to oppose the legislation in a recent letter. Financial institutions, including small and community banks, have also put pressure on lawmakers, including Tuberville, to support the bill. There's been these attempts by the chairman of the Banking Committee to add a bunch of other stuff onto it, and I think that just completely torpedoes the chances." Ahead of his re-election campaign, President Joe Biden announced his intention to pardon federal convictions for simple marijuana possession offenses at the end of last year.

Persons: Chuck Schumer, We've, Sen, Steve Daines, Sherrod Brown, Kevin Cramer, Daines, Cramer, Dan Sullivan, Lisa Murkowski, Bill Cassidy of, Cynthia Lummis of, Rand Paul of Kentucky, Susan Collins of, Kevin McCarthy of California, McCarthy, Tommy Tuberville, Steve Stafford, Tuberville, Sullivan, Jeff Sessions, Trump, Sheriff Dan Springer, Springer, I've, Jeff Merkley, Jack Reed, It's, Cory Booker of, Dave Joyce, Alexandria Ocasio, Joe Biden Organizations: U.S, Capitol, Banking, Housing, Urban Affairs, SAFE, Republicans, Democrats, GOP, Auburn University, Smart, Senators, Republican, D.C, Sheriff, HOPE Locations: Ohio, GOP Sens, Alaska, Bill Cassidy of Louisiana, Cynthia Lummis of Wyoming, Susan Collins of Maine, Washington, Gallatin County , Montana, Montana, Cory Booker of New Jersey, R, Alexandria, Cortez

☆ Bipartisan push to ban deceptive AI-generated ads in US elections
▼ + stars: | 2023-09-12 | by ( ) www.reuters.com time to read: +1 min

Senator Amy Klobuchar (D-MN) speaks during a Senate Committee on Commerce, Science and Transportation hearing entitled "Strengthening Airline Operations and Consumer Protections," focusing on the holiday meltdown, that forced Southwest to cancel thousands of flights, on Capitol Hill in Washington, U.S., February 9, 2023. REUTERS/Amanda Acquire Licensing Rights Read moreSept 12 (Reuters) - Two Democratic and two Republican U.S. senators on Tuesday introduced legislation to ban the use of artificial intelligence that creates content that falsely depicts candidates in political advertisements to influence federal elections. Authorities around the world are grappling with how to regulate and legislate on issues related to artificial intelligence as services such as ChatGPT gain traction. "This bill would ... prohibit the distribution of materially deceptive AI-generated audio, images, or video relating to federal candidates in political ads or certain issue ads to influence a federal election or fundraise," it said. Reporting by Costas Pitas; Editing by Richard ChangOur Standards: The Thomson Reuters Trust Principles.

Persons: Amy Klobuchar, Chris Coons, Josh Hawley, Susan Collins, Costas Pitas, Richard Chang Organizations: Commerce, Science, Operations, Southwest, Capitol, REUTERS, Amanda, Democratic, Republican U.S, Thomson Locations: Washington , U.S

☆ Oil, the dollar, and the Fed still pose a triple threat to the US economy, Bank of America says
▼ + stars: | 2023-09-08 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

Don't rule out a hard landing for the US economy just yet, according to Bank of America. Strategists led by Michael Hartnett warned that oil, the dollar, and the Federal Reserve all still pose a threat. Their gloomy outlook clashes with much of Wall Street, with top banks and the Fed itself having shelved their recession predictions. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. Hartnett's team said the consensus view is that there's a 20% chance of a hard landing – but warned the trifecta of oil, the dollar, and the Fed each still pose an economic threat.

Persons: Michael Hartnett, that's, Goldman Sachs, Jan Hatzius, Susan Collins Organizations: Bank of America, Federal Reserve, Fed, Service, Federal, West Texas, Boston Fed Locations: Wall, Silicon, Brent, Russia, Saudi Arabia

☆ US consumers are done splurging, Fed report suggests
▼ + stars: | 2023-09-07 | by ( Bryan Mena | ) edition.cnn.com time to read: +5 min

Washington, DC CNN —After a summer of robust consumer spending, America’s bars, hotels and restaurants say the era of post-pandemic splurging by US consumers has likely drawn to a close. “Consumer spending on tourism was stronger than expected, surging during what most contacts considered the last stage of pent-up demand for leisure travel from the pandemic era,” the report said. Consumer spending rose 0.8% in July, the strongest monthly spending gain since January. But that strength in leisure spending began to level off toward the end of August, the latest Beige Book shows. Still, leisure spending varied by region, with some reporting a noticeable slowing and others saying it is holding steady.

Persons: ”, Taylor Swift, Barbie, “, Morgan Stanley, Goldman Sachs, Susan Collins Organizations: DC CNN, Federal Reserve, Warner Bros, Hospitality, “, Street, Fed, Boston Locations: Washington, Boston Fed’s, Atlanta Fed’s, York, Boston

The prospect of higher rates put particular pressure on growth stocks with the S&P 500 growth index (.IGX) underperforming the benchmark throughout the session. "Growth stocks have been pricing in the idea that inflation has been well anchored and that the Fed's going to cut. The S&P 500 showed little reaction to the Fed's "Beige Book" snapshot of the U.S. economy a week ahead of the keenly awaited August inflation data and the Fed's rate decision on Sept. 20. The report showed "modest" U.S. economic growth in recent weeks while job growth was "subdued," and inflation slowed in most parts of the country. The S&P 500 posted six new 52-week highs and 25 new lows; the Nasdaq Composite recorded 34 new highs and 174 new lows.

Persons: Lockheed Martin, Carol Schleif, Schleif, Susan Collins, Patrick Kaser, Mike Segar, advancers, Sinéad Carew, Shristi, Vinay Dwivedi, Richard Chang Organizations: Dow, Nasdaq, Institute for Supply Management, Traders, Federal Reserve, Boston, Equity, Brandywine Global, Apple Inc, Wall, New York Stock Exchange, REUTERS, Dow Jones, Energy, Lockheed, NYSE, Thomson Locations: China, Minneapolis, Manhattan, New York City , New York, U.S, New York, Bengaluru

Raindrops hang on a sign for Wall Street outside the New York Stock Exchange in Manhattan in New York City, New York, U.S., October 26, 2020. "Every Fed governor comes out and says they look for the data and that data point today is definitely something that's a little bit more inflationary." Declining issues outnumbered advancers by a 2.14-to-1 ratio on the NYSE and by a 2.06-to-1 ratio on the Nasdaq. The S&P index recorded three new 52-week highs and 24 new lows, while the Nasdaq recorded 32 new highs and 119 new lows. Reporting by Shristi Achar A and Amruta Khandekar in Bengaluru Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

Persons: Mike Segar, Martin, Joe Saluzzi, Susan Collins, megacaps, Johnson, Lockheed Martin, Shristi Achar, Vinay Dwivedi Organizations: Wall, New York Stock Exchange, REUTERS, Dow, Nasdaq, Apple, Institute for Supply Management, Traders, Themis, Boston, Nvidia, Treasury, Healthcare, Johnson, HSBC, thefly.com, Federal Reserve, Dow Jones, Lockheed, NYSE, Thomson Locations: Manhattan, New York City , New York, U.S, China, Chatham , New Jersey, Bengaluru

Raindrops hang on a sign for Wall Street outside the New York Stock Exchange in Manhattan in New York City, New York, U.S., October 26, 2020. ET, for a snapshot of the U.S. economy, ahead of the keenly awaited inflation data scheduled for next week and the Fed's policy decision on Sept. 20. Investors will also parse comments from Boston Fed President Susan Collins and Dallas Fed President Lorie Logan later in the day. ET, Dow e-minis were down 76 points, or 0.22%, S&P 500 e-minis were down 11.5 points, or 0.26%, and Nasdaq 100 e-minis were down 50 points, or 0.32%. Reporting by Shristi Achar A and Amruta Khandekar in Bengaluru Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

Persons: Mike Segar, Russ Mould, AJ Bell, Susan Collins, Lorie Logan, General Mills, Shristi Achar, Vinay Dwivedi Organizations: Wall, New York Stock Exchange, REUTERS, Companies, Dow, Nasdaq, Federal, Federal Reserve, Investors, Global, ISM, Traders, Boston Fed, Dallas Fed, Dow e, Apple, Alaska Air Group, Southwest Airlines, United Airlines, Thomson Locations: Manhattan, New York City , New York, U.S, Russia, Saudi Arabia, China, Bengaluru

"Most Districts reported price growth slowed overall," the Fed said in its latest "Beige Book" summary of surveys and interviews conducted across its 12 districts through Aug. 28. It added that "nearly all districts indicated businesses renewed their previously unfulfilled expectations that wage growth will slow broadly in the near term." Data since the last Fed rate hike six weeks ago has tended to support that view, with the economy adding an average of 150,000 jobs per month over the last three months, down sharply from the prior three months. Earlier on Wednesday, Boston Fed President Susan Collins also said the central bank has the space to be patient, while acknowledging that inflation pressures, though easing, still remain too high. Home building was picking up, the Fed said, but building affordable properties is being strained by high financing costs and rising insurance premiums.

Persons: Christopher Waller, Susan Collins, Collins, Ann Saphir, Andrea Ricci, Paul Simao Organizations: Federal, Boston, New, New York Fed, San Francisco Fed, Fed, Thomson Locations: U.S, New York

☆ Dollar rises to six-month high after US data; weak yen prompts warning
▼ + stars: | 2023-09-06 | by ( Gertrude Chavez-Dreyfuss | ) www.reuters.com time to read: +4 min

The greenback recovered against most currencies after the data, with the euro and sterling hitting three-month lows and the yen touching session troughs. The euro and sterling fell to three-month lows after the data and were last flat at $1.0726 and down 0.5% at $1.2505 , respectively. Data showed the Institute for Supply Management (ISM)'s non-manufacturing PMI rose to 54.5 last month, the highest since February and up from 52.7 in July. Against the yen, the dollar trimmed losses, last down little changed at 147.69 yen. The dollar showed little reaction to the report.

Persons: Dado Ruvic, Helen, Susan Collins, Christopher Waller, Waller, Masato Kanda, Gertrude Chavez, Dreyfuss, Samuel Indyk, Ankur Banerjee, Savio D'Souza, Alexandra Hudson, Josie Kao Organizations: REUTERS, Institute for Supply Management, Reuters, Monex USA, Federal, Fed, Boston, CNBC, Ministry of Finance, Thomson Locations: Washington, U.S, Kanda, London, Singapore

☆ Fed's Collins says policymakers can 'proceed cautiously' on future rate hikes
▼ + stars: | 2023-09-06 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

Boston Federal Reserve President Susan Collins on Wednesday advocated a patient approach to policymaking while saying she needs more evidence to convince her that inflation has been tamed. In remarks that aligned with sentiment from other key central bankers, Collins said the Fed may be "near or even at the peak" for interest rates. Both also supported the patient approach while cautioning that they view recent positive developments on inflation with caution and are ready to approve additional rate hikes if needed. Collins also spoke on the lags with which Fed policy is thought to work. Generally, economists believe it takes a year to a year and a half for rate hikes to seep through the economy.

Persons: Susan Collins, Collins, Jerome Powell, Christopher Waller, Waller, it's Organizations: Reserve Bank of Boston, Kansas City Fed, Boston Federal, Wednesday, CNBC, Market, Group Locations: Jackson, Wyoming, Boston

☆ US stocks fall as Fed comments and new data raise fear of more rate hikes
▼ + stars: | 2023-09-06 | by ( Phil Rosen | ) www.businessinsider.com time to read: +3 min

US stocks dropped Wednesday as fears of more Fed rate hikes swirled. Meanwhile, the Fed's Beige Book showed softer activity growth and cooling labor market in July and August. Fears of more potential rate hikes from the Federal Reserve swirled following early morning comments from Boston Fed President Susan Collins. "Given the data, the Fed will most likely deliver a hawkish pause at the next meeting. Separately, the Fed's Beige book release on Wednesday showed slower activity growth and softer hiring in the labor market through July and August.

Persons: Susan Collins, Collins, Jeffrey Roach Organizations: Boston, Service, Big Tech, Apple, Nvidia, Federal, Boston Fed, Wall Street, LPL, Dow Jones, Nasdaq Locations: Wall, Silicon

☆ Morning Bid: Restive markets simmer after oil sideswipe
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: +4 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 20, 2023. That's a moment in the whole disinflation story as it virtually wipes out the negative annual base effect so powerful this year in helping drag headline inflation rates back down. The more complicated inflation picture comes against the week's downbeat business surveys from Europe and Japan. That take was reinforced overnight by a New York Fed study that suggested the theoretical 'neutral' interest rate keeping the economy at equilibrium continued to fall in the second quarter. The energy picture saw Asia and European bourses in the red again, with Japan's Nikkei (.N225) bucking the trend.

Persons: Brendan McDermid, Mike Dolan Roiled, Lorie Logan, Susan Collins, Mike Dolan, John Stonestreet Organizations: New York Stock Exchange, REUTERS, Treasury, Bank of Canada, New, New York Fed, NY, Japan's Nikkei, Dallas Federal, Boston Fed, Reuters Graphics Reuters, Thomson, Reuters Locations: New York City, U.S, Saudi Arabia, Russia, That's, Europe, Japan . U.S, New York, Asia, European, Canada

☆ Fed's Collins says now is time to be patient, deliberate with policy
▼ + stars: | 2023-09-06 | by ( Michael S. Derby | ) www.reuters.com time to read: +3 min

Federal Reserve Bank of Boston President Susan Collins stands behind the Jackson Lake Lodge in Jackson Hole, where the Kansas City Fed holds its annual economic symposium, in Wyoming, U.S., August 24, 2023. Fed officials generally agree high levels of inflation are coming down, even as price pressures are still elevated. On the jobs front, Collins said demand for workers continues to outstrip supply and wage growth remains elevated. The current stance of monetary policy should “temper” demand and “I do not believe a significant slowdown is required,” Collins said. Reporting by Michael S. Derby; Editing by Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.

Persons: Susan Collins, Ann Saphir, ” Collins, they’ll, what’s, Collins, “, Michael S, Chizu Organizations: Reserve Bank of Boston, Kansas City Fed, REUTERS, Federal Reserve Bank of Boston, Fed, Market Committee, Thomson Locations: Jackson, Wyoming, U.S

☆ Here are the 14 stocks Jim Cramer is watching, including Oracle, Roku and Southwest
▼ + stars: | 2023-09-06 | by ( Jim Cramer | ) www.cnbc.com time to read: +1 min

In prepared remarks for a speech, she said the Fed is "well positioned to proceed cautiously in this uncertain economic environment." Those sentiments mesh with recent statements from Fed Chairman Jerome Powell and Fed Gov. I did not hear a resounding endorsement of the 27.5% tariffs on Chinese EVs. If you like this story, sign up for Jim Cramer's Top 10 Morning Thoughts on the Market email newsletter for free. Thermo Fisher ScientificUBS downgrades "sainted" Block ToastMorgan Stanley goes equal weight from underweight (hold from sell) on First SolarAeroVironmentSouthwest Airlines

Persons: Susan Collins, Jerome Powell, Christopher Waller, Gina Raimondo, Jim Cramer's, Leerink, Morgan Stanley Organizations: Boston Federal, Fed, Oracle, Microsoft, Fisher Scientific UBS

☆ Rise in services, manufacturing prices spur fear that Fed has more work to do on inflation
▼ + stars: | 2023-09-06 | by ( Jeff Cox | ) www.cnbc.com time to read: +1 min

On Wednesday, the ISM reported that its services prices index for August rose to 58.9%, a four-month high and 2.1 points above the July level. That comes on the heels of the August manufacturing prices reading of 48.4%, which was below the dividing line for expansion but still 5.8 points ahead of July's level. Following the services reading, traders in the fed funds futures market increased the odds for a November Fed rate hike to about 53%, according to the CME Group . That coincided with a jump in the rate-sensitive two-year Treasury yield to 5.033%, and a slide in stocks that sent the S & P 500 down by as much as 0.9%. "With oil and food prices also higher, this [ISM services] report points to a Fed whose job to quell inflation is certainly not yet quite finished."'

Persons: Quincy Krosby, Susan Collins Organizations: Federal Reserve, Institute, Supply, CME Group, Treasury, LPL, Boston

☆ Stocks fall, dollar and yields up after US services data
▼ + stars: | 2023-09-06 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

[1/2] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 15, 2023. Weighing heavily on Wall Street stock indexes, shares of Apple (AAPL.O) fell 3.6% after the Wall Street Journal reported, citing people familiar with the matter, that China had banned officials at central government agencies from using iPhones and other foreign-branded devices for work. Some investors said the data may add to signs that interest rates could remain elevated for longer. The Nasdaq ended more than 1% lower, leading declines on Wall Street. In other data, manufacturing activity in Germany, Britain and the euro zone declined, while their service sectors fell into contraction territory.

Persons: Brendan McDermid, Susan Collins, Jeffrey Roach, Caroline Valetkevitch, Gertrude Chavez, Dreyfuss, Nell Mackenzie, Kane Wu, Edmund Klamann, Sam Holmes, Will Dunham, Sharon Singleton Organizations: New York Stock Exchange, REUTERS, U.S, Apple, Treasury, Wall, Wall Street Journal, Institute for Supply Management, U.S . Federal, Fed Bank of Boston, Nasdaq, . Technology, Dow Jones, LPL, Brent, Thomson Locations: New York City, U.S, China, Germany, Britain, New York, London

The Senate returns Tuesday from a month-long recess as Congress gears up for a rocky September with a whole host of to-dos – including averting a government shutdown – before the fiscal year’s end. Accordingly, congressional leaders have made clear that a stop-gap measure to keep the government funded will be necessary. But even without the demands on the CR, reconciling the House and Senate's spending bills more broadly is expected to be a heavy lift this month, and perhaps beyond. Even so, some Senate Republicans were quick to come to McConnell’s defense. But questions about the leader’s health are expected to run in the background this week as the Senate gets to work on a number of priorities.

Persons: Kevin McCarthy, McCarthy, Chuck Schumer, Mitch McConnell, ”, Sen, Susan Collins of, McConnell “, Mike Rounds, McConnell, Joe Biden, Biden, Marjorie Taylor Greene Organizations: Caucus, Republicans, New York Democrat, Kentucky Republican, South Dakota, CNN, Senate, Georgia Republican, House Locations: Kentucky, Susan Collins of Maine, Washington, Georgia

☆ The Fed likely won’t raise rates this month — but November is another matter
▼ + stars: | 2023-09-03 | by ( Bryan Mena | ) edition.cnn.com time to read: +5 min

Washington, DC CNN —Last week’s economic data increasingly gave investors hope that the Federal Reserve could hold interest rates steady this month, following a hike in July that brought rates to their highest level in 22 years. It’s hard to say definitively if or when the central bank will hike interest rates again this year. The Fed could hold rates steady for the rest of the year if both the job market and the broader economy continue to slow, helping bring down inflation. Higher for longer means keeping interest rates elevated for a prolonged period. China’s National Bureau of Statistics releases August inflation data.

Persons: hasn’t, ” Leslie Thompson, Thompson, Jerome Powell, Powell, Susan Collins, Powell’s Jackson, there’s, Raphael Bostic, Olesya Dmitracova, ” Patrick Hummel, David Lesne, Juan Perez, Carrascosa, Barnes & Noble Organizations: CNN Business, Bell, DC CNN, Federal, Financial, Spectrum Wealth Management, CNN, Fed, Kansas City, Boston, Yahoo, Finance, Atlanta Fed, Volkswagen, Renault, UBS, French, Swiss, Barnes &, The Reserve Bank of Australia, US Commerce Department, Eagle, Express, P Global, Institute for Supply Management, Bank of Canada, US Labor Department, Kroger, China’s National Bureau of Statistics Locations: Washington, Jackson Hole , Wyoming, Cape Town , South Africa, Europe

☆ Morning Bid: Rates dice, AI arms race and G20 snub
▼ + stars: | 2023-08-31 | by ( ) www.reuters.com time to read: +5 min

AI (Artificial Intelligence) letters and robot hand are placed on computer motherboard in this illustration taken, June 23, 2023. Even if that came in slightly above forecasts, an unexpectedly sharp slowdown in the country's service sector ensured another underwhelming reaction. Chinese President Xi Jinping is likely to skip a summit of G20 leaders in India, sources told Reuters. Overall, Asia markets were flat to negative - Europe's bourses were higher and U.S. futures held steady ahead of Thursday's open. Reuters GraphicsReuters GraphicsReuters GraphicsReuters GraphicsBy Mike Dolan, editing by David Evans, <a href="mailto:mike.dolan@thomsonreuters.com" target="_blank">mike.dolan@thomsonreuters.com</a>.

Persons: Dado Ruvic, Mike Dolan, chatbots, Xi Jinping, Premier Li Qiang, Susan Collins, Raphael Bostic, Luis de Guindos, Campbell, David Evans Organizations: REUTERS, Federal Reserve, Baidu, HK, Washington, Reuters, Premier, U.S, Treasury, UBS, Chicago, Boston Federal, Atlanta Fed, European Central Bank, Broadcom, Dollar, Hormel, Reuters Graphics Reuters, Thomson Locations: U.S, Beijing, India, New Delhi, Asia

☆ Here's why stocks are still vulnerable in September
▼ + stars: | 2023-08-28 | by ( Bob Pisani | ) www.cnbc.com time to read: +6 min

The bad news is, stocks still aren't cheap, rates still seem like they want to push higher, and China is definitely weaker. Stocks are vulnerable in September: The 'pain trade' is down After that, it's time to repair some damage to the markets. Here's the good news: even though stocks have been straight down most of this month, 5% off the highs is a pretty garden variety correction. Nvidia and AI stocks: how much more do you want? I don't know if that is true, but it sure looks like much of the demand for AI stocks has been pulled forward.

Persons: Jerome Powell's Jackson, Powell, Stocks, there's, Banks, Russell, Susan Collins, Patrick Harker, Joachim Nagel, Thursday's, I'm, Chris Harvey, it's, Jackson Organizations: Federal, deflator, Regional Bank ETF, Energy, Boston, Financial Times, Philadelphia Fed, CNBC, ECB, Nvidia, Microsoft, Cisco, Intelligence, Technology, IBM Locations: China, Wells Fargo, Jackson

U.S. bond investors nonetheless dialled back their bets of a rate hike in November and December following Powell's remarks, though Treasury yields traded near break-even by late morning. The yield on 10-year Treasury notes was steady at 4.2314% and the two-year yield, which reflects interest rate expectations, rose to 5.0735%. "We've seen a back-off in ECB rate hike expectations. Boston Fed President Susan Collins said on Yahoo Finance's video channel that rates may be near or at a peak, "but certainly additional increments are possible." Tokyo consumer price data on Friday, which front-runs nationwide figures, showed inflation remained well above the Bank of Japan's target.

Persons: Toby Melville, Jerome Powell, Powell, David Sadkin, Dow Jones, Christine, Lagarde, Ben Laidler, Patrick Harker, Susan Collins, Shaun Osborne, Joseph Capurso, Kazuo Ueda, Jackson, Brent, Samuel Indyk, Kevin Buckland, Jacqueline Wong, Mark Potter, Chizu Nomiyama, Susan Fenton, Diane Craft, Cynthia Osterman Organizations: London Stock Exchange Group, City of, REUTERS, Federal Reserve, Bel Air Investment Advisors, Nasdaq, European Central Bank, ECB, Reuters, Philadelphia Fed, CNBC, Boston, Yahoo, U.S, Scotiabank, Bank of, Bank of Japan, CBA, West Texas, Thomson Locations: City, City of London, Britain, Jackson Hole , Wyoming, U.S, Asia, Tokyo

☆ Shares whipsaw as Fed weighs inflation risks, yields steady
▼ + stars: | 2023-08-25 | by ( Samuel Indyk | ) www.reuters.com time to read: +5 min

If you're a bear, you heard him say we're going to be restrictive, and we might hike rates," said David Sadkin, president at Bel Air Investment Advisors. U.S. rates investors nonetheless dialled back their bets of a rate hike in November and December following Powell's remarks, though Treasury yields traded near break-even by late morning. "We've seen a back off in ECB rate hike expectations. Boston Fed President Susan Collins said on Yahoo Finance's video channel that rates may be near or at a peak, "but certainly additional increments are possible." Tokyo consumer price data on Friday, which front-runs nationwide figures, showed inflation remained well above the Bank of Japan's target.

Persons: Toby Melville, Jerome Powell, Powell, David Sadkin, Dow Jones, Christine, Lagarde, Ben Laidler, Patrick Harker, Susan Collins, Shaun Osborne, Joseph Capurso, Kazuo Ueda, Jackson, Brent, Samuel Indyk, Kevin Buckland, Jacqueline Wong, Mark Potter, Chizu Nomiyama, Susan Fenton Organizations: London Stock Exchange Group, City of, REUTERS, Federal Reserve, Bel Air Investment Advisors, Nasdaq, European Central Bank, Reuters, ECB, Philadelphia Fed, CNBC, Boston, Yahoo, U.S, Scotiabank, Bank of, Bank of Japan, CBA, West Texas, Thomson Locations: City, City of London, Britain, Jackson Hole , Wyoming, U.S, Asia, Tokyo

☆ Stocks swoon, dollar firms as Powell speech looms
▼ + stars: | 2023-08-25 | by ( Kevin Buckland | ) www.reuters.com time to read: +5 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 15, 2023. Crude oil found its footing around one-month lows, but remained on course for a second weekly decline amid a firmer dollar and simmering China-centred worries about global growth. "However, there is also no real reason for Powell to strike a dovish tone," he added, "and that could mean an ugly end to the week for stocks, while the dollar shines." Against Japan's currency , the dollar edged tentatively back toward last week's nine-month high of 146.545, trading as strong as 146.21. In energy markets, crude prices rose slightly on Friday, but remained on track for weekly declines of between 1.5-2.5%.

Persons: Brendan McDermid, Jerome Powell, Jackson, Kazuo Ueda, Christine Lagarde, Powell, Matt Simpson, Simpson, Patrick Harker, Susan Collins, Joseph Capurso, Brent, Kevin Buckland, Jacqueline Wong Organizations: New York Stock Exchange, REUTERS, Rights, Federal, People's Bank of, Bank, Nasdaq, Japan's Nikkei, Nvidia, Advantest, Fed, Boston Philadelphia Fed, CNBC, Yahoo, U.S, Bank of Japan, CBA, Treasury, West Texas, Thomson Locations: New York City, U.S, . U.S, China, People's Bank of China, Asia, Tokyo, Jackson

Search resuls for: "Susan Collins"

25 mentions found