DIRS.INFO The most relevant business & tech news

☆ Trump is a convicted felon. Here's what it means for the former president.
▼ + stars: | 2024-05-31 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, we're looking at the historic guilty verdict against former President Donald Trump . In a historic verdict, former President Donald Trump was convicted of all 34 criminal counts related to a hush-money payment made to a porn star , write Business Insider's Laura Italiano, Jacob Shamsian, and Natalie Musumeci. AdvertisementIt's the first time a US president has become a convicted felon. This was a rigged trial by a conflicted judge that was corrupt," Trump told reporters in the Manhattan courtroom hallway. Trump told reporters Thursday the "real verdict is going to be November 5 by the people."

Persons: —, Donald Trump, Tyler Le, Laura Italiano, Jacob Shamsian, Natalie Musumeci, Trump, Stormy Daniels, BI's Lloyd Lee, There's, didn't, Chip Somodevilla, Scott Eisen, Joe Biden, Alyssa Powell, Rob Arnott, Bob Elliott, Paul Singer's, Jane Street, Jenny Chang, Rodriguez, Liz Reid, Satya Nadella, Sam Altman, Nadella, Kevin Dietsch, Charles Schwab, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Service, Business, Republican, Trump, NBC, Getty, Wall, Elliott Management, BI, Tech, Sigma, Google, Microsoft, Apple, Big Locations: Giza, Manhattan, Bridgewater, New York, London

☆ Dollar steadies before inflation test; yen brushes off Tokyo CPI
▼ + stars: | 2024-05-31 | by ( ) www.cnbc.com time to read: +4 min

The dollar was licking wounds against peer currencies on Friday after a downward revision to U.S. GDP for the first quarter suggested room for rate cuts this year, while investors braced for inflation data. The dollar index , which measures the currency against six major peers, consolidated around 104.82 after dipping as low as 104.63 overnight. Softer U.S. consumer price inflation data earlier in May rekindled rate cut expectations for this year, weakening the dollar across the board and setting it on track to post its first monthly losses in 2024. "All told, the Tokyo CPI leaves us confident that nationwide underlying inflation will fall below 2% as soon as July." Price data for the euro zone is due on Friday, following a stronger-than-expected April inflation reading for Germany on Wednesday.

Persons: John Williams, Matt Simpson, Index's Simpson, Marcel Thieliant, Sterling, bitcoin Organizations: Treasury, greenback, New York Fed, Index, PCE, Capital Economics, Japan's Ministry of Finance, Germany Locations: U.S, Tokyo, Asia

One basis point equal 0.01%. The benchmark 10-year Treasury yield fell more than 3 basis points to 4.518%. The 2-year Treasury yield was down more than 1 basis point to 4.912%. U.S. Treasury yields were slightly lower on Friday after the Federal Reserve's preferred inflation data came in mostly in line with economist expectations. Fed officials have repeatedly indicated that they are looking for more data evidence that inflation is easing before moving to cut rates, and that patience would be required.

Persons: Dow Jones Organizations: Treasury, U.S, Federal, PCE, Fed

☆ Stock market today: US indexes rally after cool inflation data
▼ + stars: | 2024-05-31 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

US indices rallied after a promising PCE report. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . As projected, core PCE rose 0.2% in April. ""The equity market wants to see a slowdown in economic growth and today's PCE data provided a soft-landing report," David Donabedian said, chief investment officer of CIBC Private Wealth US. Here's where US indexes stood at the 4:00 p.m. closing bell on Friday:AdvertisementHere's what else happened today:In commodities, bonds, and crypto:

Persons: —, Friday's, David Donabedian, Eric Sterner Organizations: Dow, Nasdaq, Service, Dow Jones, Nvidia, Microsoft, PCE, CIBC Private Wealth, Federal Reserve, Apollon Wealth Management

☆ Gold flat ahead of U.S. data, but set for 4th straight monthly gain
▼ + stars: | 2024-05-31 | by ( ) www.cnbc.com time to read: +2 min

One kilogram gold bullion at the YLG Bullion International Co. headquarters in Bangkok, Thailand, on Friday, Dec. 22, 2023. Gold prices were set for a fourth straight monthly gain, even as the market struggled for momentum on Friday ahead of a key U.S. inflation reading that could provide more indications on how the Federal Reserve might proceed with rate cuts later this year. Bullion prices are up 0.3% so far this week and 2.5% so far in the month. Spot silver fell 0.8% to $30.95 per ounce, but was set for its biggest monthly gain since July 2020. Platinum was down 0.2% at $1,021.94 and palladium lost 0.2% to $945.56.

Persons: Kyle Rodda, Yeap Jun Rong Organizations: Co, Federal Reserve Locations: Bangkok, Thailand, U.S

☆ Fed's Williams says inflation is too high but will start coming down soon
▼ + stars: | 2024-05-30 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

NEW YORK — New York Federal Reserve President John Williams on Thursday said inflation is still too high but he is confident it will start decelerating later this year. With markets on edge over the direction of monetary policy, Williams offered no clear signs on where he is leaning as far as possible interest rate cuts go. Williams called policy "well-positioned" and "restrictive" and said it is helping the Fed achieve its goals. But higher than expected inflation readings have altered that landscape dramatically, and current pricing is pointing to just one decrease, probably in November. Williams said he expects PCE inflation to drift down to 2.5% this year on its way back to 2% in 2026.

Persons: John Williams, Williams, CNBC's Sara Eisen, Dow Jones Organizations: Federal Reserve Bank of New, York Federal, Economic, of New, Fed, Commerce Department Locations: Federal Reserve Bank of New York, New York, York, of New York

☆ Treasury yields fall as investors look to key data
▼ + stars: | 2024-05-30 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

ET, the 10-year Treasury yield was down by 3 basis points at 4.594%, falling back below the 4.6% mark it had crossed Wednesday for the first time in a month. The 2-year Treasury yield was last at 4.966% after falling by nearly 2 basis points. U.S. Treasury yields were lower on Thursday as investors looked ahead to key economic data and assessed the state of the economy. Investors awaited key economic data due toward the end of the week, with the latest personal consumption expenditures price index figures due Friday. Policymakers have in recent weeks indicated that interest rate cuts may be a while off, with Minneapolis Fed President Neel Kashkari telling CNBC that it could take "many more months of positive inflation data" before he would support rate cuts.

Persons: Neel Kashkari Organizations: U.S, Treasury, Investors, PCE, Federal, Minneapolis, CNBC

☆ Stock market today: Sell-off continues as markets digest new data, brace for PCE
▼ + stars: | 2024-05-30 | by ( Max Adams | Matthew Fox | ) www.businessinsider.com time to read: +3 min

Markets are bracing for the release of PCE inflation data on Friday. 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 . Markets are now bracing for the release of personal consumption expenditures data, which is the Fed's preferred inflation measure. Economists expect the data to show inflation in April rose 2.7% year-over-year, while core PCE rose 0.2%, compared to 0.3% in March.

Persons: —, Bill Adams Organizations: Service, Dow Jones, Comerica Bank, Treasury, Fed Locations: Salesforce, Here's

☆ U.S. PCE data will be 'scrutinized heavily,' strategist says
▼ + stars: | 2024-05-30 | 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 EmailU.S. PCE data will be 'scrutinized heavily,' strategist saysMehvish Ayub, senior investment strategist at State Street Global Advisors, says last week's purchasing managers' index data was "quite a shocker."

Persons: Mehvish Ayub Organizations: U.S, PCE, State Street Global Advisors

☆ Fed's favorite inflation gauge is expected to show very slow progress on Friday
▼ + stars: | 2024-05-30 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Inflation is taking baby steps towards coming back to where policymakers want it, with a report due Friday expected to show more of that creeping progress. Core inflation is expected to have slowed to 0.2%, which would represent at least some further progress toward easing price pressure on weary consumers. "That said, getting to the Fed's 2% target is apt to be a bumpy landing." However, policymakers' expectations that housing inflation will cool this year have been largely thwarted, throwing another wrinkle into the debate. CPI inflation ran at 3.4% for the all-items measure in April and 3.6% for core, well above the Fed's target.

Persons: Dow Jones, Carol Schleif Organizations: Dow, BMO Family Office, Labor Locations: PCE

☆ Stock futures inch lower as investors review earnings, brace for inflation report: Live updates
▼ + stars: | 2024-05-30 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

U.S. stock futures ticked lower Thursday night as investors reviewed a flurry of corporate earnings ahead of a key inflation report. Dow Jones Industrial Average futures fell by 42 points, or 0.11%. S&P 500 futures and Nasdaq 100 futures dipped 0.15% and 0.20%, respectively. The S&P 500 has climbed roughly 10% this year, but the equal-weighted index is up by about 3%. Economists polled by Dow Jones expect a 2.7% year-over-year increase for core PCE, down slightly from the 2.8% gain in the previous read.

Persons: Nordstrom, Salesforce, Dow, They're, Jeff deGraff, CNBC's, deGraff, Dow Jones Organizations: New York Stock, Dow Jones Industrial, Nasdaq, Traders, Dell Technologies, Dow Jones, Nvidia, Macro, Qualcomm

☆ Investors should be close to their risk tolerance, says T. Rowe Price's Sebastien Page
▼ + stars: | 2024-05-30 | 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 EmailInvestors should be close to their risk tolerance, says T. Rowe Price's Sebastien PageSebastien Page, T. Rowe Price global head of multi-asset, joins 'Closing Bell' to discuss his expectation for tomorrow's PCE report and his market playbook.

Persons: Rowe Price's Sebastien Page Sebastien Page, Rowe Price Organizations: PCE

☆ Gold prices drop as strong U.S. dollar, yields dim bullion's shine
▼ + stars: | 2024-05-30 | by ( ) www.cnbc.com time to read: +2 min

An employee puts gold bullions into a safe deposit box at Degussa shop in Singapore. Gold prices slipped for a second consecutive session on Thursday as the U.S. dollar and Treasury yields edged higher ahead of key inflation data, which could offer further clarity on the Federal Reserve's interest rate plan. "I think it's a case of investors realizing that the current high interest rate environment is likely to have an extended stay. And with the focus again turning to chasing U.S. yields and dollar, some attention is taken away from gold this week," said Tim Waterer, chief market analyst at KCM Trade. While bullion is considered an inflation hedge, higher rates increase the opportunity cost of holding the non-yielding asset.

Persons: Tim Waterer, Bullion, Waterer Organizations: U.S ., KCM, Traders, Global, BHP Group Locations: Singapore, ., U.S

☆ Gold subdued as U.S. dollar, yields firm; traders await inflation data
▼ + stars: | 2024-05-29 | by ( ) www.cnbc.com time to read: +2 min

An employee holds one kilogram gold bullion at the YLG Bullion International Co. headquarters in Bangkok, Thailand, on Friday, Dec. 22, 2023. Gold prices edged lower on Wednesday as the U.S. dollar and Treasury yields held firm ahead of key inflation data, which could offer more clarity on the Federal Reserve's interest rate trajectory. The dollar firmed 0.1%, making gold less attractive for other currency holders, while benchmark U.S. 10-year bond yields rose to multi-week peaks. "Investors will try to position themselves in gold because overall long-term fundamentals are looking pretty strong for gold at the moment." While gold is used as a hedge against inflation, rate hikes raise the opportunity cost of holding non-yielding bullion.

Persons: Soni Kumari, Tim Waterer Organizations: Co, U.S ., Treasury, ANZ, KCM, Traders, BHP, Monetary Fund Locations: Bangkok, Thailand, U.S, China

☆ Goldman Sachs' Jan Hatzius: Inflation is improving, but will be hardly perfect by September
▼ + stars: | 2024-05-29 | 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 EmailGoldman Sachs' Jan Hatzius: Inflation is improving, but will be hardly perfect by SeptemberJan Hatzius, Goldman Sachs chief economist, joins 'Closing Bell' to discuss his expectations for this week's PCE numbers and the Fed's next move.

Persons: Goldman Sachs, Jan Hatzius

☆ Stock market today: Indexes slide as rising bond yields pressure stocks
▼ + stars: | 2024-05-29 | by ( Max Adams | Filip De Mott | ) www.businessinsider.com time to read: +2 min

Stocks slipped on Wednesday as traders watched the rise in US Treasury yields. 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 . AdvertisementStocks dipped on Wednesday — with the Nasdaq falling from a record — as investors watched bond yields move higher for a second day this week, with the 10-year Treasury continuing to climb above 4.5%. US bond yields are hovering around the highest level in about four weeks following a weak government bond auction Tuesday, as well as waning rate-cut hopes amid the latest inflation data.

Persons: Stocks, —, Carol Schleif Organizations: Treasury, Marathon Oil, ConocoPhillips, Service, Nasdaq, Federal Reserve, BMO Family Office, American Airlines Locations: PCE, Here's

☆ 5 reasons the stock market is headed for a 4% gain in June, according to Fundstrat
▼ + stars: | 2024-05-29 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

The S&P 500 is primed to rise 4% in June, according to Fundstrat's Tom Lee. AdvertisementThe stock market is poised to rise another 4% in June after jumping 5% in May, according to a Tuesday note from Fundstrat's Tom Lee. Lee said the S&P 500 could jump to 5,500 within the next month, driven by five positive market catalysts. Such a gain would send the S&P 500 to new all-time highs. But Nvidia's blowout earnings results last week could jolt investors to finally put that cash to work and buy stocks, according to Lee.

Persons: Tom Lee, Lee, — Organizations: Service, PCE, CPI, Bank of America

☆ Dollar steady ahead of inflation data, yen wobbles
▼ + stars: | 2024-05-29 | by ( ) www.cnbc.com time to read: +7 min

The dollar was stable on Wednesday on wagers the Federal Reserve is unlikely to cut rates until later this year ahead of crucial inflation readings this week, while the yen drifted to its weakest in four weeks. Market focus this week will be on a slew of inflation reports, with German inflation data due on Wednesday and the wider euro zone's reading on Friday. Market focus this week will be on a slew of inflation reports, with German inflation data due on Wednesday and the wider euro zone's reading on Friday. The pound was 0.13% higher at 200.68 yen, the strongest since August 2008, while the euro touched a one-month high of 170.795 yen earlier in the session. The yen, which is sensitive to Treasury yields, is down 10% for the year against the dollar but may yet scrape a monthly gain in May.

Persons: Sterling, Christopher Wong, Prashant Newnaha Organizations: U.S, Australian, FX, TD Securities Locations: U.S, Tokyo, Asia

☆ Stock market today: Nasdaq hits record ahead of new inflation data
▼ + stars: | 2024-05-28 | by ( Max Adams | ) www.businessinsider.com time to read: +2 min

The Nasdaq hit a record in early trading on Tuesday while other indexes were mixed. Traders are awaiting PCE inflation data on Friday. Markets will also digest housing data and revised GDP numbers for the first quarter. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAlso this week, another round of Fed speakers will deliver commentary on the path of the economy, inflation, and interest rates.

Persons: —, Neel Kashkari, Kashkari Organizations: Nasdaq, Traders, Service, PCE, Minneapolis, CNBC, Wedbush, Apple

☆ Stock futures are little changed after the Nasdaq Composite posts a record close: Live updates
▼ + stars: | 2024-05-28 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Stock futures were little changed Tuesday night after the Nasdaq Composite rose to a fresh record. S&P 500 futures ticked down 0.06%, while Nasdaq 100 futures hovered near the flatline. The tech-heavy index was an outlier, however, as the S&P 500 edged higher by just 0.02%, and the 30-stock Dow slid nearly 0.6%, dragged lower by a decline in Merck shares. The S&P 500 is up 5.4% this month, while the Dow has advanced 2.7%. Indeed, fed funds futures trading data suggests a nearly 54% chance that rates will hold steady in September, according to the CME FedWatch Tool.

Persons: Dow, Tom Lee Organizations: Nasdaq, Dow Jones, . American Airlines, JetBlue, Southwest Airlines, Nvidia, Merck, Dow, Federal, Fundstrat Global Advisors

☆ Dollar firm ahead of global inflation data
▼ + stars: | 2024-05-27 | by ( ) www.cnbc.com time to read: +4 min

The dollar made a steady start to the week, as investors were focused on U.S., European and Japanese inflation data to guide the global interest rate outlook. The euro , which gained 0.9% on the dollar last week, was in the middle of a range it has held for more than a year at $1.0846. German inflation on Wednesday and euro zone readings on Friday will be watched for confirmation of a European rate cut that traders have priced for next week. The dollar had fallen back after data showed a slowdown in consumer price rises in April and disappointing retail sales, before strengthening last week thanks to better-than-expected PMI survey data. China's yuan finished last week weaker than 7.24 per dollar, its lowest level since early May.

Persons: Sterling, Bob Savage, BNY, China's, Scott Gold, would've, Justin D'Anethan Organizations: New, U.S, Federal, Swiss, Tokyo CPI Locations: Britain, United States, U.S, Asia, New York

☆ Stock futures rise to kick off shortened trading week: Live updates
▼ + stars: | 2024-05-27 | by ( Pia Singh | ) www.cnbc.com time to read: +1 min

Traders work on the floor of the New York Stock exchange during morning trading on May 17, 2024. Stock futures advanced Monday night as investors await inflation data due at the end of the shortened trading week for a better picture of the market's outlook. S&P futures gained 0.1%, while Nasdaq 100 futures edged up 0.2%. Recently, however, stronger economic data and fresher concerns about a potential consumer spending pullback have dampened the interest rate outlook. Looking ahead to this week, investors are watching for consumer confidence data out Tuesday and the April personal income and expenditures report, which includes the PCE inflation reading, out Friday.

Organizations: New York Stock, Stock, Dow Jones, Nasdaq, Costco Wholesale

☆ Stock market today: US stocks look to rebound after inflation worries sparked 2-day decline
▼ + stars: | 2024-05-24 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

Inflation worries from Fed minutes and hot economic data sparked the Dow's worst sell-off in a year on Thursday. Investors are awaiting next week's release of PCE data to gauge if inflation is falling or not. The Dow registered its worst sell-off in over a year on Thursday, even in the face of a strong rally in Nvidia stock following its blockbuster first-quarter earnings report. Inflation concerns sparked the two-day sell-off, with Fed minutes released on Wednesday highlighting lingering concerns among Fed officials about cutting interest rates too soon. Investors will be paying close attention to next week's release of PCE data to gauge if inflation is moving lower or not.

Persons: —, LPL, Quincy Krosby, Krosby Organizations: Service, Dow, Nvidia, Fed, PMI

☆ Stock market today: Indexes end the week mixed after inflation scare and Nvidia earnings boom
▼ + stars: | 2024-05-24 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

US stocks ended the week mixed on Friday after an inflation scare and Nvidia's earnings report. Investors will look ahead to next week's PCE data to gauge which direction inflation is headed. Nvidia earnings helped push up tech stocks and drove the Nasdaq 100 to an overall gain this week. AdvertisementUS stocks traded higher on Friday, but finished the week mixed after an inflation scare following strong economic data and the release of Nvidia's solid first-quarter earnings report. AdvertisementInvestors will look to next week's release of PCE data to gauge which direction inflation is moving.

Persons: —, LPL, Quincy Krosby, Nvidia's, Blackwell Organizations: Nvidia, Nasdaq, Service, Dow Jones, PMI, Federal Reserve

☆ The key for markets next week will be inflation as stocks try to maintain record highs
▼ + stars: | 2024-05-24 | by ( Sarah Min | ) www.cnbc.com time to read: +6 min

The news will come with stocks on pace to close out a strong month that included all-time highs. Stocks are poised to end an impressive month of gains after some softer inflation data released earlier in May and stronger-than-expected corporate earnings revived investor exuberance in the market rally. On Friday, the 30-stock Dow was on pace to snap a five-week win streak, falling by 2% for the period. Pesky inflation, consumer weakness The April personal income and expenditures report, which includes the PCE inflation reading, could confirm the recent trend of cooling inflation. Pending Home Sales (April) Earnings: Costco Wholesale , Ulta Beauty , NetApp , Best Buy , Dollar General , Hormel Foods Friday, May 31 8:30 a.m.

Persons: Dow, Mike Dickson, Dickson, FactSet, Goldman Sachs, David Mericle, Steph, it's, Christian Mueller, Glissmann, Mueller Organizations: Dow Jones, Nasdaq, Horizon Investments, Fed, PCE, Robinhood, Costco Wholesale, Software, Dallas Fed, Richmond Fed, Hormel, Chicago PMI Locations: Chicago

Search resuls for: "PCE"

25 mentions found