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☆ China to issue $284 billion of sovereign debt this year to help revive economy, sources say
▼ + stars: | 2024-09-26 | by ( ) www.cnbc.com time to read: +1 min

China plans to issue special sovereign bonds worth about 2 trillion yuan ($284.43 billion) this year as part of a fresh fiscal stimulus, said two sources with knowledge of the matter, adding to a string of measures to battle strong deflationary pressures and faltering economic growth. As part of the package, the Ministry of Finance (MOF) plans to issue 1 trillion yuan of special sovereign debt primarily to stimulate consumption amid growing concerns about a stuttering post-COVID economic recovery, said the sources. China also aims to raise another 1 trillion yuan via a separate special sovereign debt issuance and plans to use the proceeds to help local governments tackle their debt problems, the source added. Most of China's fiscal stimulus still goes into investment, but returns are dwindling and the spending has saddled local governments with $13 trillion in debt. China's State Council Information Office, which handles media queries on behalf of the government, and the MOF did not immediately respond to requests for comment.

Organizations: Ministry of Finance, Information Office Locations: China

☆ Americans have an average of $6,300 in credit card debt: Here's how much you'd pay monthly to clear it in 1, 2 or 3 years
▼ + stars: | 2024-09-25 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +2 min

The average American has thousands of dollars of credit card debt. As a whole, Americans hold a record $1.14 trillion in credit card debt as of the second quarter of this year, according to the Federal Reserve Bank of New York's August report. "Credit card debt is easy to get into and hard to get out of," Rossman says. Carrying credit card debt can cost youCarrying a balance from month to month can make your credit card debt more expensive in the long run due to accruing interest. How to pay off your credit card debt

Persons: Ted Rossman, Bankrate, Rossman, it's Organizations: Federal Reserve Bank of New, CNBC Locations: LendingTree

☆ There's a new reason people feel bad about the economy
▼ + stars: | 2024-09-25 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +5 min

Read previewIt's official: The labor market vibes are not great. It's the largest tumble in sentiment since August 2021 — and workers' experiences with and expectations for the labor market are partially to blame. A weaker jobs market — although one that's still historically strong — is warping Americans' beliefs about the economy. Even so, though, it'll take a little while for new monetary policy to trickle into daily life and the labor market. Are you having trouble finding a job, or is the job market making you feel bad?

Persons: —, It's, Jerome Powell, Wells, Shannon Seery Grein, Jeremiah Kohl, Dana M, Peterson, it'll, Julia Pollak Organizations: Service, Conference, Business, Federal Reserve, Conference Board, Conference Board's, New York Federal Reserve's Survey, Consumer, Survey, Labor

☆ Australian, New Zealand dollars scale new highs on China boost
▼ + stars: | 2024-09-25 | by ( ) www.cnbc.com time to read: +3 min

An Australian one-hundred dollar banknote, top, and a New Zealand one-hundred dollar banknote are arranged for a photograph in Hong Kong, China, on Thursday, March 13, 2014. The Australian and New Zealand dollars scaled multi-month peaks on Wednesday while sterling hit its highest in more than two years against a weaker dollar, as China's aggressive stimulus package provided the latest shot in the arm for risk appetite. Data on Tuesday showed U.S. consumer confidence unexpectedly fell in September, amid mounting worries over the health of the labor market. Against a basket of currencies, the dollar last stood at 100.28, languishing near a more than one-year low of 100.21. The dollar index had fallen more than 0.5% in the previous session, its largest one-day percentage fall in a month.

Persons: Sterling, Carol Kong, Wells Organizations: New, Bank of, Federal Reserve, Commonwealth Bank of Australia, greenback, Markets Locations: Australian, New Zealand, Hong Kong, China, Bank of England, U.S, Wells Fargo

☆ Consumer confidence fell more than expected this month
▼ + stars: | 2024-09-24 | by ( Jeff Cox | Jeff Cox Is A Finance Editor With Cnbc.Com Where He Covers All Aspects Of The Markets | Monitors Coverage Of The Financial Markets | ) www.nbcnews.com time to read: +2 min

The board’s Consumer Confidence Index slid to 98.7, down from 105.6 in August, the biggest one-month decline since August 2021. By contrast, the index had a reading of 132.6 in February 2020, a month before the Covid pandemic hit. Each of the five components the organization samples fared worse on the month, with the biggest fall coming among those aged 35-54 and earning less than $50,000. “Consumers’ assessments of current business conditions turned negative while views of the current labor market situation softened further. Consumers were also more pessimistic about future labor market conditions and less positive about future business conditions and future income,” said Dana Peterson, chief economist at The Conference Board.

Persons: Dow, ”, Dana Peterson, Stocks, ” Peterson Organizations: Conference Board, Treasury, Federal Reserve

☆ September consumer confidence falls the most in three years
▼ + stars: | 2024-09-24 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

The board's Consumer Confidence Index slid to 98.7, down from 105.6 in August, the biggest one-month decline since August 2021. By contrast, the index had a reading of 132.6 in February 2020, a month before the Covid pandemic hit. "Consumers' assessments of current business conditions turned negative while views of the current labor market situation softened further. Consumers were also more pessimistic about future labor market conditions and less positive about future business conditions and future income," said Dana Peterson, chief economist at The Conference Board. The last time the confidence index dropped more came as inflation was just beginning a climb to what ultimately was the highest level in more than 40 years.

Persons: Dow, Dana Peterson, Stocks, Peterson Organizations: Conference Board, Treasury, Federal Reserve

☆ It will take more than just a drop in interest rates to save the housing market
▼ + stars: | 2024-09-23 | by ( Samantha Delouya | ) edition.cnn.com time to read: +6 min

But while lower mortgage rates may translate to more buying power for homebuyers, America’s housing market woes aren’t likely to be solved solely by rate cuts. But Enterprise Community Partners, the nonprofit where Donovan currently serves as CEO, estimates that the US needs 7 million new units in order to stabilize the housing market. “There are a lot of factors that have affected the housing supply and these are complicated issues to solve. “We’re not expecting mortgage rates to fall that much further, and we still think that the mortgage rate ‘lock-in’ effect will still be there,” Dougherty said. “Things will probably pick up as rates come down, but we’re not looking for a high-octane rebound,” Dougherty said of the housing market.

Persons: they’d, aren’t, ’, ”, Shaun Donovan, Kamala Harris, Donald Trump, ” Donovan, Harris, Trump, Donovan, Jerome Powell’s, Freddie Mac, Charles Dougherty, That’s, “ We’re, ” Dougherty, ” Powell, that’s, Dougherty, “ It’s, ” Ryan McLennan Organizations: CNN, Housing, Urban Development, National Association of Realtors, Partners, Federal, Fed, National Association of Home Builders, homebuilders, Consumer Financial Locations: America, Wells Fargo, Houston, homebuying

☆ How Foot Locker is waging a comeback after its breakup with Nike
▼ + stars: | 2024-09-23 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +14 min

Foot Locker turns 50 while on a bit of an upswing two years into Dillon's tenure as CEO. Coi Leray performs at Foot Locker 50th anniversary event on September 16, 2024 in New York. "Whereas Foot Locker looks vulnerable because it just doesn't have all these other strings to its bows," said Saunders. Foot Locker store location on 34th street in New York City. The company is working to refresh two-thirds of its global Foot Locker and Kids Foot Locker doors by the end of 2025, and said 40% of its North American footprint is now off-mall.

Persons: Patrick T, Mary Dillon, Locker, Mike Vitelli, Isabella Picicci, we've, Dillon, Neil Saunders, Dick's, Saunders, they're, Frank Winfield Woolworth, Janine Stichter, Foot, Frank Bracken, Bracken, America sputtered, WSS, …, she's, That's, Stichter, they'd, Kim Waldmann, it's, Waldmann, that's, Foot Locker Organizations: Nike, Foot, Beverly Center, Fallon, Bloomberg, Getty, PR, Adidas, CNBC, Goods, JD, JD Sports, City of, Forbes, Jordan, she's Locations: Los Angeles, New York City, New York, City, City of Industry , California, U.S, America, North America, GlobalData, Foot

☆ Only 33% of millionaires consider themselves wealthy, report finds. Why it's so hard to feel rich
▼ + stars: | 2024-09-23 | by ( Jessica Dickler | ) www.cnbc.com time to read: +2 min

More borrowers are carrying debt from month to month and a growing number are falling behind on their monthly credit card payments. Over the last year, roughly 9.1% of credit card balances transitioned into delinquency, the New York Fed reported for the second quarter of 2024. Nearly half, 44%, of Americans said credit card debt is the biggest threat to their ability to build wealth, according to Edelman Financial Engines. "High-interest rate credit card debt, more than other sorts of debt, is a savings killer, because when you have it, you have to feed the beast. Among millionaires, 68% said they would need at least $3 million and 40% said feeling wealthy would require $5 million of more.

Persons: Chatzky, — Organizations: Bureau of Labor Statistics, New York Fed, Edelman

But many people are still wondering, what does a rate cut mean for my money? For those who’ve been waiting it out, the rate cut “will instill some hope in folks,” said Elizabeth Renter, senior economist at NerdWallet. Consider your (improved) debt repayment optionsThis week’s rate cut was good news for those struggling to unload themselves of credit card debt. They’re a popular savings instrument when interest rates are high, and as most economists expected, CD rates have already started declining since the Fed’s interest rate cut. “This rate cut is not something that should trigger you to go make any drastic changes to the overall direction of your portfolio,” he added.

Persons: Jerome Powell, ”, Elizabeth Renter, Michele Raneri, “, “ It’s, Rodney Lake, It’s, cardholders, Now’s, Lake, don’t, Freddie Mac, ” Renter, they’ve, Raneri, Lee Baker, there’s, Bankrate, Baker, it’s, —, “ Don’t Organizations: NerdWallet, TransUnion, Federal Trade Commission, GW Investment, George Washington University School of Business, Apex Financial Services, P Locations: U.S

☆ What normalizing the yield curve means — and why investors should care
▼ + stars: | 2024-09-20 | by ( Zev Fima | ) www.cnbc.com time to read: +9 min

It also means lots of talk from the experts about "normalizing the yield curve" in the bond market — meaning getting back to a setup where bonds with longer maturities yield higher rates than those with shorter-term maturities. That's referred to as "yield curve inversion," which has historically signaled an upcoming recession. Currently, however, the yield curve looks more like a check mark than a gradually rising hill. An inverted Treasury yield curve messes with that dynamic. Everyone, from private citizens to multinational corporations benefits from a normalized yield curve because normal means less uncertainty, which means more predictability.

Persons: Jerome Powell, shouldn't, Stanley Black, Decker, Jim Cramer's, Jim Cramer, Jim, William McChesney Martin Jr, Anna Moneymaker Organizations: Federal Reserve, Fed, Treasury, CNBC, Federal, Getty Locations: U.S, Washington , DC

☆ Pesky medical bill? Most people don't take a key step to manage that debt, study finds
▼ + stars: | 2024-09-20 | by ( Greg Iacurci | ) www.cnbc.com time to read: +4 min

Getty ImagesConsumers may feel their medical bills are unyielding, inflexible, set in stone. About 26% of people who called because they disagreed with a charge or couldn't afford to pay it got their medical bill corrected after the outreach, according to the study, published in August. About 1 out of 5 respondents reported receiving a medical bill with which they disagreed or could not afford within the prior 12 months. How to manage medical billsConsumers should ask up front what a medical visit or procedure will cost, or inquire what the estimated cost will be, she said. Sometimes, consumers will pay "a heck of a lot less" if they pay in cash rather than via insurance, McClanahan said.

Persons: that's, Erin Duffy, Stocks, Duffy, Carolyn McClanahan, McClanahan Organizations: Getty, University of Southern, USC Schaeffer Center for Health, Economics, Finance, Savings, Bills, Financial, Planning Partners Locations: University of Southern California, Jacksonville , Florida

☆ Ultraprocessed foods may increase your risk for type 2 diabetes, study shows
▼ + stars: | 2024-09-20 | by ( Madeline Holcombe | ) edition.cnn.com time to read: +6 min

Packaged foods, soda, chips, hot dogs, chicken nuggets and ice cream all fall under the category of ultraprocessed foods, which can include dozens of synthetic additives such as preservatives, emulsifiers and artificial dyes. For every 10% increase in the amount of a person’s diet made up of ultraprocessed foods, the team found that there was a 17% increased risk for developing type 2 diabetes, the data showed. The scientists also found that reducing the amount of ultraprocessed food you are consuming can lower the risk, according to the study. “Ultra-processed foods are everywhere,” Dicken said via email. “We also know that increased body fat (from excess calories) increases the risk of type 2 diabetes.

Persons: Nerys Astbury, Astbury, Samuel Dicken, ” Dicken, “, ”, Sarah Gallo, Dicken, It’s, Hilda Mulrooney, Mulrooney, ” Mulrooney Organizations: CNN, Nuffield Department, Primary Health Care Sciences, University of Oxford, University College London, Consumer Brands Association, London Metropolitan University Locations: Europe, US

☆ 'Fertile hunting ground': Portfolio manager names 9 stocks to cash in on India's growth
▼ + stars: | 2024-09-19 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +5 min

Franklin Templeton's Yi Ping Liao describes the South Asian country as "a fertile hunting ground to identify stocks." And if this continues, you can potentially see lower equity risk premiums for the market," the assistant portfolio manager told CNBC Pro on Sept. 12. She likes that the Indian market offers the "opportunity to identify good stocks," following an improvement in its breadth. Among the names Liao is betting on is automaker Tata Motors . Elsewhere, in the tourism and hospitality industry, the portfolio manager likes hotel chain Indian Hotels — the company behind premium brands like Taj, Vivanta and Ginger.

Persons: Franklin Templeton's Yi Ping Liao, Liao, Franklin, Morgan Stanley, China's, Vivanta, Ginger, India's financialization Organizations: CNBC Pro, Templeton, Growth, IMI, Bombay Stock Exchange, World Economic, Bain & Company, Tata Motors, Tata, Apollo, Max Healthcare Institute, Insurance, Taj, HDFC Bank, ICICI Bank, Kotak Mahindra Bank Locations: India, Asia, China, U.S

☆ Seeing signs of softness, not accelerating weakness in small businesses: BofA's Liz Everett Krisberg
▼ + stars: | 2024-09-19 | 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 EmailSeeing signs of softness, not accelerating weakness in small businesses: BofA's Liz Everett KrisbergLiz Everett Krisberg, head of Bank of America Institute, joins 'Squawk Box' to discuss the results from the bank's small business survey, impact of the Fed's interest rate decision on small businesses, state of consumer spending, and more.

Persons: Liz Everett, Liz Everett Krisberg Organizations: Bank of America Institute

"Ultimately shirking fiduciary responsibility to employees, consumers, and shareholders." Twenty civil rights organizations sent a letter Thursday to Fortune 1000 companies calling for them to recommit to diversity, equity and inclusion, after several major companies scaled back their efforts. She emphasized that LGBTQ+ consumers have $1.4 trillion of buying power, as reported by the National LGBT Chamber of Commerce. But a small, well-funded, and extreme group of right-wing activists is attempting to pressure companies into abandoning their DEI programs. Abandoning DEI will have long-term consequences on business success -- ultimately shirking fiduciary responsibility to employees, consumers, and shareholders.

Persons: Bill Ackman, Molson Coors, Harley Davidson, George Floyd, Forman, Kelley Robinson, CNBC's, Robinson, Brown, Lowe's, John Deere, Harley, Davidson, Edelman Organizations: National Action Network, Molson, Ford, Tractor Supply, Human Rights, HRC, Brown, National LGBT Chamber of Commerce, Molson Coors, . Tractor Supply, Companies, McKinsey & Company, Pew Locations: New York City, Rural, United States

☆ Home Depot to pay nearly $2 million to settle suit alleging it overcharged shoppers
▼ + stars: | 2024-09-18 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Dennis-Romero-Circle-Byline-Template.Jpg | Dennis Romero | ) www.nbcnews.com time to read: +2 min

SAN DIEGO — The Home Depot agreed to a nearly $2 million settlement in a case that alleged it overcharged customers, charging more for items at checkout than the items' advertised prices. In an emailed statement responding to a request for comment about the settlement, Home Depot said, “To ensure consistency for our customers, we’ve updated the timing of our price changes." The settlement includes $1.7 million to be divided among the district attorneys' offices of Los Angeles, San Diego, Orange, Alameda, San Bernardino and Sonoma counties for consumer law enforcement. "This settlement is a clear message that such behavior will not be tolerated and underscores our commitment to safeguarding the rights of consumers in our community," Gascón said. Home Depot, based in Atlanta, reported in a proxy statement in May that it earned nearly $22 billion in operating profit for the 2023 fiscal year.

Persons: “, Judge Richard S, George Gascón, Gascón Organizations: DIEGO, Superior Court, Depot, Whitney Locations: California, San Diego, Angeles County, Los Angeles, San Diego , Orange, Alameda, San Bernardino, Sonoma, Sacramento County, Atlanta

7:02 a.m.: JPMorgan hikes Roku price target Roku's focus on monetization for its Platform segment may spell good news for the stock. Analyst Cory Carpenter kept his overweight rating on the stock but upped his price target by $10 to $90. "We believe Lilly's launch of an obstructive sleep apnea (OSA) indication for its GLP-1 medication tirzepatide poses significant patient funnel disruption/distortion risks," the analyst wrote. Analyst Sara Senatore upped its price target by $6 to $118, which implies more than 22% upside from Tuesday's close. "Licensing China would also allow SBUX management to train its focus on the US (73% of 2023 EBITDA before corporate expenses)," the analyst wrote in a Wednesday note.

Persons: Goldman Sachs, Cory Carpenter, Carpenter, Roku, TTD, they've, — Sean Conlon, Wolfe, Resmed Wolfe, Mike, Eli Lilly, Sara Senatore, Senatore, Brian Niccol's, Lizzie Dove, Hilton, Dove, Adrienne Yih, Yih, Fred Imbert Organizations: CNBC, Marriott International, Barclays, Corp, JPMorgan, Google, Amazon, Bank of America, Marriott, Wyndham, Hilton, VF Corp Locations: Starbucks, China, Tuesday's, Timberland, VFC

☆ When interest-rate cuts will hit credit cards, car loans, and mortgages
▼ + stars: | 2024-09-18 | by ( Ayelet Sheffey | Madison Hoff | ) www.businessinsider.com time to read: +6 min

Read previewThe nation's central bank has finally cut interest rates for the first time in over four years. AdvertisementStill, Hamrick said within a day of the Fed's rate cuts, banks will likely adjust their prime lending rates, which will be noticed in credit-card rates "immediately." The Fed rate cuts indirectly affect mortgages, which are generally based on other interest rates that are loosely tied to the Fed funds rate. And when it comes to businesses, rate cuts will have a positive impact on their operations, making it cheaper to take out loans. Are you planning to make any big purchases now that the Fed has cut interest rates?

Persons: —, Mark Hamrick, Erica Groshen, Michele Raneri, Raneri, Hamrick, Elizabeth Renter, Renter Organizations: Service, Federal, Market Committee, Democratic, Fed, Business, Cornell University, Bureau of Labor Statistics, Consumer Financial, TransUnion, asheffey

☆ Neurable’s BCI ‘brain-reading’ headphones could stop you burning out
▼ + stars: | 2024-09-17 | by ( Rebecca Cairns | ) edition.cnn.com time to read: +9 min

The MW75 Neuro comes in four colors, including silver. NeurableThe concept, says Alcaide, is to help users “build discipline and good habits” through rewarding good cognitive hygiene. Blackrock NeurotechThe MW75 Neuro is a "non-invasive" BCI. CNN’s Anna Stewart tries an early iteration of Neurable’s MW75 Neuro headphones with Deena Al Jassasi (right) at Healthspan Digital, a longevity clinic in Dubai. As more people wear the headphones, Alcaide says users can opt-in to share their anonymized data which can help improve functionality for new software features.

Persons: Ramses Alcaide, Woojin Lee, Neurable, Alcaide, you’re, ”, Miguel Nicolelis, Adam Molnar, ” Miguel Nicolelis, Neurobiologist, Duke University Nicolelis, Deena Al Jassasi, CNN’s Anna Stewart Organizations: CNN, University of Michigan’s, Interface, Dynamics, Duke University, Neurable, BCI, Blackrock, DCI Network, Institute of Neuroethics, Healthspan Locations: Boston, Alcaide, Blackrock Neurotech's Utah, Dubai

☆ DoubleLine’s Gundlach says the Fed needs to cut rates quickly, sees a half-point reduction Wednesday
▼ + stars: | 2024-09-17 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

DoubleLine Capital CEO Jeffrey Gundlach said Tuesday that the Federal Reserve needs to ease policy swiftly amid the current economic slowdown, seeing a half-point interest-rate reduction this week. A quarter-point rate cut had been the consensus as recently as a week ago. But the 2-year Treasury yield was last at around 3.59%. The size of the Fed's first rate cut in years has been a point of debate on Wall Street. On the one hand, a rate cut could help boost earnings growth for companies following a period of high borrowing costs and stubborn inflation.

Persons: Jeffrey Gundlach, Gundlach, CNBC's Scott Wapner Organizations: DoubleLine, Federal Reserve, Treasury Locations: Huntington Beach , California, United States

☆ Americans Really Hate the so-so Economy, Worried About Recession
▼ + stars: | 2024-09-17 | by ( Emily Stewart | ) www.businessinsider.com time to read: +9 min

We expected there to be a cooling labor market — that's kind of the goal — and it's always just, you know, how cool?" That being said, when it comes to the labor market … it is, in fact, so over. That's an improvement over July's 4.3% unemployment rate, but overall, the jobs market in the US is cooling off. Related stories"If you imagine a labor market like a bathtub, the bathtub is full," said Dana Peterson, the chief economist at the Conference Board. Despite the strong labor market, they're sending endless résumés into the ether without getting any bites, and they don't understand why.

Persons: I've, it's, Allison Shrivastava, Joanne Hsu, there's, Dana Peterson, Jaime, Alexis Fowler, she'd, That's, pang, Hsu, Michael Madowitz, Y, Peterson, We're, Emily Stewart Organizations: Federal, University of Michigan, Conference Board, Roosevelt Institute, Business

☆ Martis: Consumer spending is slowing, with lower retail profit growth expected
▼ + stars: | 2024-09-17 | 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 EmailMartis: Consumer spending is slowing, with lower retail profit growth expectedJharonne Martis, Director of Consumer Research at Refinitiv, an LSEG business, suggests that a softer retail sales report might lead to a 50-basis-point rate cut by the Fed, but currently, a 25-point cut is more likely.

Persons: Jharonne Martis Organizations: Consumer Research Locations: Refinitiv

☆ India accuses Samsung, Xiaomi of colluding with Amazon, Flipkart
▼ + stars: | 2024-09-15 | by ( ) www.cnbc.com time to read: +2 min

Samsung, Xiaomi and other smartphone companies colluded with Amazon and Walmart's Flipkart to exclusively launch products on the e-commerce firms' Indian websites in breach of antitrust laws, according to regulatory reports seen by Reuters. In Flipkart's case, a 1,696-page CCI report said the Indian units of Samsung, Xiaomi, Motorola, Vivo, Lenovo and Realme conducted similar practices. Siva Prasad wrote in the Amazon and Flipkart reports, in identical findings. Amazon, Flipkart and the CCI did not respond, and have not so far commented on the reports' findings. Both the CCI reports said that during investigations Amazon and Flipkart "deliberately downplayed" allegations of exclusive launches, but officials found the practice was "rampant".

Persons: Flipkart, Realme, G.V, Siva Prasad, Xiaomi, China's Vivo Organizations: Samsung, Reuters, Antitrust, Competition Commission of India, Amazon, Motorola, Vivo, Lenovo, China's, Bain

☆ S&P 500 rallies back to old highs, setting up Fed meeting to be make or break moment
▼ + stars: | 2024-09-14 | by ( Michael Santoli | ) www.cnbc.com time to read: +6 min

The market's turn toward treating good economic news as positive for stocks is pictured here in a chart from Citi strategists, showing the three-month correlation between the S & P 500 and the Citi U.S. Economic Surprise index has turned sharply higher. The S & P 500's low for the week was Wednesday morning, right at the 5400 level where it previously hit a low a week ago Friday after a tepid employment report. Forward 12-month S & P 500 earnings forecasts continue to rise smartly, now approaching $270. But, thanks to the past two months of sideways churn, that's down from 21.7 when the S & P first hit its current level in July. And the rally last week could well have front-run any potential positive inference from the Fed's move next week.

Persons: Ally Financial, Ed Hyman, Loretta Mester, William Dudley, John Kolovos Organizations: Citi, Citi U.S, Fed, Ally, CPI, Wall Street, Financial Times, Treasury, National Association of Active Investment, American Association of

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