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☆ Job openings fall by half a million
▼ + stars: | 2023-07-06 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

There were about half a million fewer job openings in May than the previous month, providing at least a modest sign that the ultra-tight labor market could be loosening a bit, the Labor Department reported Thursday. The closely watched Job Openings and Labor Turnover Survey showed that listings fell to 9.82 million, down 496,000 from April and below the 9.9 million consensus estimate from FactSet. The report comes amid conflicting signs of where the labor market is heading. There is no indication of an abrupt deterioration in labor market conditions," Logan said in remarks delivered at Columbia University in New York. "The continuing outlook for above-target inflation and a stronger-than-expected labor market calls for more restrictive monetary policy," she added.

Persons: Dow Jones, Lorie Logan, Logan Organizations: Labor Department, Labor, Survey, Dow, Federal Reserve, Dallas, Columbia University Locations: New York

☆ Morning Bid: Markets labor on China, three jobs gauges
▼ + stars: | 2023-07-06 | by ( ) www.reuters.com time to read: +4 min

A look at the day ahead in U.S. and global markets from Mike DolanWorld markets have taken a hit from a deepening selloff in China as they await critical health checks on U.S. employment over the next two days. Although Fed futures pricing for the year ahead changed little overnight, two-year U.S. Treasury yields edged up closer to 5%. ADP's June take on private sector payrolls, the latest weekly jobless claims numbers and details of May job openings all hit the slate later. Consensus forecasts have ADP reporting another 228,000 jobs last month, jobless claims ticking higher last week and vacancies falling in May. Events to watch for later on Thursday:* U.S. June ADP private sector jobs report, weekly jobless claims and May JOLTS job openings data.

Persons: Mike Dolan, Janet Yellen, Goldman Sachs, restating, John Williams, Elon Musk, Lorrie Logan, Elaine Organizations: U.S, Treasury, Goldman, Federal, New York Fed, Labor Department's, Dallas Federal, Reuters Graphics Reuters, Reuters, Thomson Locations: U.S, China, Beijing, Hong Kong, Shanghai, Tokyo, Seoul, British, Europe

Private payrolls increased more than expected in June, the ADP National Employment report showed, indicating the labor market remained strong despite growing risks of a recession from higher interest rates. Another survey showed the number of Americans filing new claims for unemployment benefits increased moderately last week. "The Fed has been hopeful to see a modest deterioration in the labor market," said Randy Frederick, managing director of trading and derivatives for Charles Schwab. "But since the ADP number was almost twice of what was expected, it generally implies there's potential for more rate hikes going forward." Reporting by Bansari Mayur Kamdar and Johann M Cherian in Bengaluru Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

Persons: payrolls, Randy Frederick, Charles Schwab, Lorie Logan, Janet Yellen, judge's, Bansari Mayur Kamdar, Johann M, Vinay Dwivedi Organizations: Exxon, Dow, ADP, Dallas, Twitter, Dow Jones, Nasdaq, Institute for Supply, Qualcomm, Intel, Treasury, Exxon Mobil, JetBlue Airways, American Airlines, Spirit Airlines, NYSE, Thomson Locations: ., Beijing, Washington, China, U.S, Bengaluru

☆ Morning Bid: Midyear market mettle, Nike clipped
▼ + stars: | 2023-06-30 | by ( ) www.reuters.com time to read: +4 min

U.S. jobless claims posted their biggest drop in 20 months last week, first-quarter economic growth was revised higher and inflation below forecast. The Federal Reserve's favoured PCE inflation gauge for May is due for release later. The constellation of resilient growth, a tight labour market, buoyant consumer confidence and a rebounding housing market are pushing back recession fears despite sharply rising interest rates that the Fed is signalling could rise twice more. The offshore yuan hit its weakest since Nov. 4 as pressure for lower domestic interest rates builds - in contrast to the U.S. direction of travel. Events to watch for later on Friday:* U.S. May personal income, spending and PCE inflation gauge.

Persons: Mike Dolan, Federal Reserve's, Russell Organizations: Federal, Nasdaq, International Monetary Fund, Dallas Fed PCE, Chicago, PMI, University of Michigan's, Constellation Brands, Reuters Graphics, Thomson, Reuters Locations: U.S, Britain, Pakistan, Brussels

☆ World's central bankers will not forsake 2% inflation target, Former Dallas Fed President Fisher
▼ + stars: | 2023-06-28 | 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 EmailWorld's central bankers will not forsake 2% inflation target, Former Dallas Fed President FisherRichard Fisher, former Dallas Fed President and Barclays senior advisor, joins 'Squawk on the Street' to discuss how much of Powell's tone is insurance, whether Brexit's a function of the inflation problem in the UK, and more.

Persons: Fisher Richard Fisher Organizations: Dallas Fed, Barclays

☆ Watch CNBC's full interview with former Dallas Fed president Richard Fisher
▼ + stars: | 2023-06-28 | 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 EmailWatch CNBC's full interview with former Dallas Fed president Richard FisherRichard Fisher, former Dallas Fed President and Barclays senior advisor, joins 'Squawk on the Street' to discuss how much of Powell's tone is insurance, whether Brexit's a function of the inflation problem in the UK, and more.

Persons: Richard Fisher Richard Fisher Organizations: Dallas Fed, Barclays

☆ Morning Bid: China supports, peak rate haze
▼ + stars: | 2023-06-27 | by ( ) www.reuters.com time to read: +4 min

It made its displeasure at further yuan weakness clear on Tuesday, lifting official daily targets while state banks sold dollars. Even though investors seemed to bat away the bizarre weekend events in Russia, the murky Western interest rate picture continues to hamper European and U.S. stocks. Central bankers meeting at an annual European Central Bank forum in Portugal dissuaded markets from betting on a peak in the interest rate cycle just yet. While those comments are likely more directed at European policymakers, where disinflation is lagging, markets also still expect the Fed to push ahead with at least one more interest rate rise next month. The hawkish rate picture didn't deter demand for two-year Treasury notes at Monday's auction, however, and 2-year yields slipped below 4.70% on Tuesday.

Persons: Mike Dolan, Li Qiang, Hong Kong's, Christine Lagarde, Lagarde, Gita Gopinath, Morgan Stanley, Emelia Sithole Organizations: Federal, Economic, Bank of Japan, European Central Bank, ECB, Conference, University of Michigan's, Dallas Federal, Richmond Fed, Central Bank, Treasury, Walgreens, Reuters, Thomson Locations: U.S, China, Beijing, Tianjin, Shanghai, Russia, Portugal, Sintra

☆ Morning Bid: World markets calm after Russia drama
▼ + stars: | 2023-06-26 | by ( ) www.reuters.com time to read: +5 min

More perplexed by events than anything else, world markets stayed relatively calm on Monday after a dramatic Russian military mutiny at the weekend was uneasily quelled. For Russian markets themselves, the rouble slipped to 15-month lows - but it too had been falling last week as oil prices ebbed. Largely now isolated from western investment, Russian stocks fell about 1%. U.S. Treasury yields slipped lower, perhaps with a smidgen of a safety bid from the weekend events helping too. Turkey's lira slid again to record lows after the central bank took steps to simplify rules governing lenders' holdings and foreign deposits after a sharp but underwhelming interest rate rise last week.

Persons: Mike Dolan, uneasily, Vladimir Putin, Leonardo, Raphael Bostic, James Bullard, Loretta Mester, Ed Osmond Organizations: Wall, Saab, Rheinmetall, Brent, . U.S, Treasury, Bank for International Settlements, HSBC, Dallas Federal, Central Bank, Central Banking, Atlanta Federal Reserve, St Louis Fed, Cleveland Fed, PMI, Thomson, Reuters Locations: U.S, Ukraine, Moscow, Shanghai, Europe, United States, ., Canary Wharf, London, Sintra, Portugal

☆ Don't count on an interest-rate cut boosting stocks until next year, former Dallas Fed boss says
▼ + stars: | 2023-06-23 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

Don't expect the Federal Reserve to cut interest rates anytime soon, Richard Fisher says. The US central bank is unlikely to lower rates until 2024, the former Dallas Fed president said. "And at a minimum, they're not going to be cutting rates in my view, as far as the eye can see, until 2024," Fisher added. The central bank raised borrowing costs at 10 consecutive meetings between March 2022 and May 2023 in a bid to tame inflation, which was running close to four-decade highs. Read more: These 5 charts capture a rollercoaster 15 months for stocks, bonds, and crypto as the Fed pauses its tightening campaign

Persons: Richard Fisher, —, CNBC's, they're, Fisher, Jerome Powell, Read Organizations: Federal Reserve, Dallas Fed, Service, Bank of England

☆ Fed looks unlikely to cut rates even into 2024, says former Dallas Fed President Richard Fisher
▼ + stars: | 2023-06-22 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFed looks unlikely to cut rates even into 2024, says former Dallas Fed President Richard FisherRichard Fisher, Former Dallas Federal Reserve president, joins 'Closing Bell' to discuss what the central bank's next moves might look like.

Persons: Richard Fisher Richard Fisher Organizations: Dallas Fed, Former Dallas Federal Reserve

☆ Former Dallas Fed president Richard Fisher: The Fed is 'totally devoted' to 2% inflation target
▼ + stars: | 2023-06-15 | 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 EmailFormer Dallas Fed president Richard Fisher: The Fed is 'totally devoted' to 2% inflation targetRichard Fisher, former Dallas Fed President and Barclays senior advisor, joins 'Squawk Box' to discuss the Fed's rate hike campaign, why more hikes are still expected later this year, and more.

Persons: Richard Fisher Organizations: Former Dallas Fed, Dallas Fed, Barclays

The Reserve Bank of Australia seems to have executed a one-meeting 'skip', but perhaps more by accident than design. Leaving open the possibility in July of another 25-basis-point hike two months later could prevent financial conditions from loosening too much. The Fed wants policy to be restrictive, and financial markets to move accordingly. Philadelphia Fed President Patrick Harker and Fed Governors Christopher Waller and Philip Jefferson in recent weeks have introduced 'skip' and 'skipping' into Fed-watchers' lexicons. Until then, a pause was generally assumed to lay the ground for rate cuts, not a resumption of rate hikes.

Persons: Alan Greenspan, John Silvia, Silvia, Jerome Powell, Lorie Logan, Powell, Patrick Harker, Christopher Waller, Philip Jefferson, Price, Lou Crandall, Wrightson ICAP, Jamie McGeever, Paul Simao Organizations: Federal, Reserve Bank of Australia, Dynamic, Fed, Dallas, Philadelphia Fed, Consumer, Index, Reuters, Thomson Locations: ORLANDO, Florida

☆ Morning Bid: China factory fright, dollar surges
▼ + stars: | 2023-05-31 | by ( ) www.reuters.com time to read: +4 min

The yuan , now down more than 3% from its early May peaks, skidded to its lowest level of the year against the dollar as investors considered the possibility of further credit easing by the Chinese central bank. The dollar index hit its highest level since mid-March, with the European inflation news and China demand picture knocking the euro to its lowest in two months too. German import prices fell at an annual rate of 7% in April and the ECB's financial stability report warned about a "disorderly" hit to house prices from higher mortgage rates. The House Rules Committee voted 7-6 on Tuesday to approve the rules allowing a debate and vote by the full chamber. Overall, stock markets slipped back slightly - with Hong Kong's Hang Seng index the big underperformer after the Chinese factory release.

Persons: Mike Dolan, Loretta Mester, Philip Jefferson, Susan Collins, Patrick Harker, Christine Lagarde, Jane Merriman Organizations: Federal Reserve, Cleveland Fed, Wednesday's Financial, European Central Bank, Dallas Fed, Boston, Philadelphia Fed, Consumer, Thomson, Reuters Locations: U.S, Europe, China, Italy, Chicago

☆ Morning Bid: Too soon to drink to the US debt deal
▼ + stars: | 2023-05-30 | by ( ) www.reuters.com time to read: +3 min

More detail and clarity are expected around the tentative agreement in Washington to suspend the $31.4 trillion federal debt ceiling until January 2025 in exchange for caps on spending and cuts in government programmes. In the first trades in U.S. debt markets since the debt ceiling deal, longer-term Treasuries rallied in Asia, driving benchmark 10-year yields down 6 basis points to 3.76%. Asian stocks are up, and futures indicate mild gains for stocks in Europe and the United States, too. Besides the debt deal, there is little else on investors' minds. Earnings : Manchester United, Hewlett-PackardReporting by Vidya Ranganathan; Editing by Edmund KlamannOur Standards: The Thomson Reuters Trust Principles.

☆ Morning Bid: Debt vote in sight, but further Fed squeeze
▼ + stars: | 2023-05-30 | by ( ) www.reuters.com time to read: +4 min

[1/2] Visitors walk on the plaza at the U.S. Capitol in the midst of ongoing negotiations seeking a deal to raise the United States' debt ceiling and avoid a catastrophic default, in Washington, U.S. May 24, 2023. Relief over the likely lifting of the U.S. debt ceiling this week is being reined in by the uncomfortable prospect of even higher Federal Reserve interest rates - and the further evaporation of any 2023 easing hopes. Futures markets now see a 60% chance the Fed will lift rates by another quarter point to the 5.25-5.50% range at its June 14 meeting. Though largely illiquid out of U.S. hours, one-month Treasury bill yields were marked about 10 basis points higher than Friday's close. U.S. stock futures were about 0.5% higher, in part due to relief over the debt deal - even though, unlike the latest big debt ceiling standoff in 2011, there has been little noticeable disturbance in stock indices over the past month.

☆ Wall St Week Ahead Debt ceiling deal may shift investor focus to further Fed action
▼ + stars: | 2023-05-26 | by ( David Randall | ) www.reuters.com time to read: +4 min

Megacap technology and growth stocks, which benefit from lower interest rates, have led the market's advance. A Congressional package raising the debt ceiling, meanwhile, is expected to cap spending on government programs. The debt ceiling impasse had weighed on stocks in recent days, but for the most part investors had been expecting Washington to reach a deal. At the same time, the equity market has only just begun to start pricing in more Fed hikes, she added. "The ongoing effects of monetary policy now are setting us up for this wall of debt that people aren't talking about with enough vigor," he said.

With the end of another earnings season in sight, Wall Street's attention has turned to Washington and the debt ceiling deadline. Republican negotiators on Friday walked out of talks on raising the debt limit , abruptly ending a positive week of discussions that appeared to be leading toward a deal. Democrats and the White House have been pushing for a "clean" hike to the debt limit that would push the next deadline past the 2024 presidential election, while Republicans are pressing for spending cuts. Many investors believe this ongoing game of chicken over the debt limit is largely for show, since the U.S. has never defaulted on its debt obligations. U.S. President Joe Biden hosts debt limit talks with House Speaker Kevin McCarthy (R-CA) and other congressional leaders in the Oval Office at the White House in Washington, U.S., May 9, 2023.

☆ Asian stocks inch up on US debt ceiling hopes, Nikkei hits 33-year high
▼ + stars: | 2023-05-19 | by ( Ankur Banerjee | ) www.reuters.com time to read: +5 min

Australia's S&P/ASX 200 index (.AXJO) rose 0.66%, while Japan's Nikkei (.N225) continued its ascent, rising to its highest since August 1990, during the country's so-called bubble era. Futures indicated European stocks were set to open higher, with Eurostoxx 50 futures up 0.44%, German DAX futures up 0.41% and FTSE futures up 0.23%. China's blue-chip CSI300 Index (.CSI300) rose 0.20%, while the Shanghai Composite Index (.SSEC) was up 0.13%, having reversed from earlier losses. Hawkish rhetoric from Fed speakers continued with Dallas Fed President Lorie Logan and St. Louis Fed President James Bullard saying inflation was not cooling fast enough to allow the Fed to pause its interest-rate hike campaign. Against a basket of currencies, the dollar rose 0.029% and was wedged near a two-month high.

☆ Asian shares mixed as China growth worries crimp U.S. debt ceiling optimism
▼ + stars: | 2023-05-19 | by ( Ankur Banerjee | ) www.reuters.com time to read: +3 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) eased 0.20% but was set to eke out a gain of 0.19% for the week. Data in the week underscored that China's economy lost momentum at the beginning of the second quarter, stoking worries over the wobbly post-COVID-19 recovery. Investor attention has been firmly on the negotiations over U.S. debt ceiling and increasing hopes that a deal could be reached sent U.S. shares higher overnight . Hawkish rhetoric from Fed speakers continued with Dallas Fed President Lorie Logan and St. Louis Fed President James Bullard saying inflation was not cooling fast enough to allow the Fed to pause its interest-rate hike campaign. U.S. crude fell 0.14% to $71.76 per barrel and Brent was at $75.78, down 0.11% on the day.

☆ 2-year Treasury yield falls as investors weigh Fed speaker comments, interest rate outlook
▼ + stars: | 2023-05-19 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

ET, the yield on the 10-year Treasury was down by over two basis points to 3.6249%. U.S. Treasury yields fell on Friday as investors weighed comments from Federal Reserve officials on the outlook for interest rate policy and assessed the state of the economy. Investors looked to remarks from Fed speakers for hints about monetary policy and assessed how that may affect the economy. On Thursday, Dallas Fed President Lorie Logan said she did not believe halting interest rate hikes was justified based on recent economic data. More Fed speakers, including Chairman Jerome Powell, are due to speak Friday.

☆ CNBC Daily Open: Time to exhale and breathe
▼ + stars: | 2023-05-19 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

A trader walks out of the New York Stock Exchange (NYSE) on Wall Street in New York City on May 12, 2023. 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. Dallas Federal Reserve President Lorie Logan, a voting member of the Federal Open Market Committee, thinks economic data don't support a pause in rate hikes. Subscribe here to get this report sent directly to your inbox each morning before markets open.

☆ CNBC Daily Open: Exhale and breathe
▼ + stars: | 2023-05-19 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

People walk by the bronze sculpture 'Fearless Girl' outside of the New York Stock Exchange (NYSE) on April 21, 2023 in New York City. 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. Dallas Federal Reserve President Lorie Logan, a voting member of the Federal Open Market Committee, thinks economic data don't support a pause in rate hikes. Subscribe here to get this report sent directly to your inbox each morning before markets open.

☆ Watch Fed Chairman Jerome Powell speak live on monetary policy
▼ + stars: | 2023-05-19 | by ( Jeff Cox | ) www.cnbc.com time to read: +1 min

Federal Reserve Chairman Jerome Powell speaks Friday at the "Perspectives on Monetary Policy" panel at the Thomas Laubach Research Conference the central bank is hosting in Washington, D.C. The remarks come with markets suddenly divided on where the Fed goes from here. Market pricing Friday morning indicated about a 35% probability the Fed might approve another interest rate hike when it meets in June, according to the CME Group. The Fed next week will release minutes from its meeting earlier in May at which it approved its 10th interest rate hike since March 2022. Read more:Dallas Fed President Logan says current data doesn't justify pausing rate hikes yetFed Governor Philip Jefferson named as new vice chair to succeed Lael BrainardFed increases rates a quarter point and signals a potential end to hikes

☆ Morning Bid: Hopeful ahead of the weekend
▼ + stars: | 2023-05-19 | by ( ) www.reuters.com time to read: +3 min

A look at the day ahead in U.S. and global markets from Yoruk Bahceli. Markets are heading into the weekend basking in optimism that a debt ceiling deal to avert a catastrophic U.S. Treasury default will be struck soon. His team have reported progress in talks and House Speaker Kevin McCarthy has said a deal is "doable" by Sunday. The S&P 500 is up 1.8% this week, set for its best week since end-March when markets were in panic mode around a banking crisis dragging down the economy. Fed speakers also sounded the alarm; Dallas Fed President Lorie Logan and St Louis Fed President James Bullard said on Thursday U.S. inflation doesn't look like it's cooling fast enough to merit a rate hike pause.

☆ Markets next week may keep thinking about what could go right
▼ + stars: | 2023-05-19 | by ( Scott Schnipper | ) www.cnbc.com time to read: +7 min

At least that's the thinking of a small but growing chorus of voices on Wall Street who outline the case for further stock market gains after both the S & P 500 and Nasdaq Composite touched nine-month highs this past week. The VIX was trading around 16-17 late this week, signaling no great fear among professional traders. Walmart and other retailers this week highlighted consumers are spending less freely, but they're still spending , and that drives two thirds of the economy. Even Mark Haefele, chief investment officer at UBS Global Wealth Management, wrote late this week that he has to entertain what could go right in markets, despite the fact his own view is fundamentally bearish. If that "upside scenario" happens, UBS sees global stocks moving 13% higher by the end of December, and the S & P 500 surging another 6% — to north of 4,400.

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