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☆ Yen steadies, dollar slips as China reaches for stimulus
▼ + stars: | 2024-09-30 | by ( ) www.cnbc.com time to read: +3 min

Japanese 10,000 yen banknotes and U.S. one-hundred dollar banknotes are arranged for a photograph in Tokyo, Japan. The yen slipped about 0.4% to 142.75 per dollar after jumping 1.8% on Friday. European inflation data on Tuesday and Chinese data due later on Monday are also keenly awaited. The New Zealand dollar was up 0.3% at $0.6360 after hitting its highest since December on Friday. "The trend over next year or so is for the dollar to go down," said Commonwealth Bank of Australia strategist Joe Capurso.

Persons: Shigeru Ishiba, Ishiba, Ray Attrill, Joe Capurso Organizations: Liberal Democratic Party, NHK, Bank of Japan, National, New, New Zealand, U.S, U.S . Federal, Commonwealth Bank of Australia Locations: Tokyo, Japan, National Australia, China, U.S .

☆ Gold pulls back but dovish Fed sets it for best quarter since 2016
▼ + stars: | 2024-09-30 | by ( ) www.cnbc.com time to read: +2 min

Ingots of 99.99 percent pure gold are placed in a workroom at Krastsvetmet precious metals plant in the Siberian city of Krasnoyarsk, Russia, January 31, 2023. Spot gold was down 0.2% at $2,653.38 per ounce, as of 0404 GMT, owing to a rise in the U.S. dollar . A stronger dollar makes gold less attractive for other currency holders. Bullion has risen slightly over 14% so far this quarter, its best since January 2016. This boosted expectations of an another outsized interest rate cut at the Fed's November policy meeting.

Persons: Tim Waterer, nonfarm, Jerome Powell, Michelle Bowman, Waterer Organizations: U.S ., Federal, KCM, U.S, Sunday Locations: Siberian, Krasnoyarsk, Russia, U.S, Israel, Yemen, Lebanon

☆ A researcher who studied Trump's plans to control the Fed said it could tank the economy
▼ + stars: | 2024-09-29 | by ( Alice Tecotzky | ) www.businessinsider.com time to read: +5 min

Economists at the Peterson Institute studied what would happen if Trump undermined Fed independence. The study's lead researchers dug into the economic impact of three of Trump's campaign promises: mass deportations, tariffs, and eroding Fed independence. Though Trump promises an America First economic agenda, McKibbin said that taking control of the Fed would get him the opposite results. AdvertisementHe doesn't think the public is paying enough attention to the risks of Trump's Fed proposals or the overall murkiness of the candidates' economic policy. "If you're going to advocate a policy, there has to be evidence as to why you're advocating that policy," McKibbin said.

Persons: Trump, —, Warwick McKibbin, McKibbin, Jerome Powell, Trump hasn't, they're, Kamala Harris, Harris Organizations: Peterson Institute, Fed, BI, Service, Federal, Peterson Institute of International Economics, Trump, PIIE, Business, Wall Street Journal, Biden Locations: China, Canada, Mexico, Australia, America

☆ After a week of records, there's one main market event that could change everything
▼ + stars: | 2024-09-29 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

The Fed's target inflation rate is 2%, so we're getting closer. In the week ahead, we get quarterly results from Club name Constellation Brands and the government's September employment report. Jobs, Jobs, Jobs This coming Friday's big update on the state of the labor market is the main market event and could have big implications for Wall Street and the path for Fed rate cuts. However, the market took the news in stride because recent weakness in the stock was already reflecting the sluggish sales environment. ET: September ADP Report Before the bell: Conagra (CAG) After the bell: Levi Strauss (LEVI) Thursday, Oct. 3 8:30 a.m.

Persons: Thursday's, Jerome Powell, we'll, We're, Levi Strauss, LEVI, Jim Cramer's, Jim Cramer, Jim, Spencer Platt Organizations: Dow Jones, Nasdaq, Treasury, Core PCE, GE Healthcare, Costco, Constellation Brands, Wall, ADP, Pacifico, McCormick &, PMI, Jim Cramer's Charitable, CNBC, New York Stock Exchange, Getty Locations: Covid, Corona, New York City

☆ Bull market enters fourth quarter with just about everything going its way
▼ + stars: | 2024-09-28 | by ( Michael Santoli | ) www.cnbc.com time to read: +7 min

Then there's the upside progress made in the third quarter without the leadership of super-cap tech – the equal-weighted S & P 500 is up nearly 9% since June 30 and the Nasdaq 100 up less than 2%. Goldman Sachs here plots the S & P 500 forward P/E at the time of each initial rate cut in a cycle. For sure, a breather would make sense for the broad market, with the S & P 500 up 11 of the past 15 days. In either case, it's a notable deviation from the story of placid strength being told by the S & P 500 itself. The median Wall Street strategist target for the S & P 500 is now well below the current index level, usually not something one sees at an ultimate market peak.

Persons: Scott Chronert, isn't, Goldman Sachs, it's, John Kolovos, Bitcoin's Organizations: Nasdaq, Citi, Fed Locations: China

☆ Best Buy gets a big Wall Street endorsement that's in-line with why we own the stock
▼ + stars: | 2024-09-27 | by ( Paulina Likos | ) www.cnbc.com time to read: +2 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. Despite Thursday's gains, Wells Fargo shares are having a tough month. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Stanley Black, Decker, Wells Fargo, Wells, Morgan Stanley, Jim Cramer's, Jim Organizations: CNBC, Treasury, JPMorgan, Wells, Bloomberg, Fed

Wang, chief China equity strategist at Morgan Stanley, told CNBC's " Street Signs Asia " Friday that the index could rise by another 10%. But she cautioned that more details on Beijing's recent economic stimulus measures were needed for a sustained rally. Chinese stocks rose further after Beijing on Thursday called for halting the real estate slump and a strengthening of monetary and fiscal policy. He said he's bought more Chinese stocks since. "After the break, we would really like to see as soon as possible the execution details on the physical spending and on the market stabilization measures," Wang said.

Persons: Morgan Stanley's Laura Wang, Wang, Morgan Stanley, CNBC's, Goldman Sachs, David Tepper, he's Organizations: CSI Locations: Shanghai, Shenzhen, China, Beijing

☆ Wall Street braces for a turbulent October with jobs report on deck next week
▼ + stars: | 2024-09-27 | by ( Sarah Min | ) www.cnbc.com time to read: +5 min

Both the Dow Jones Industrial Average and S & P 500 have broken out to new highs this month. BTIG chief market technician Jonathan Krinsky asked this week, referring to the S & P 500. The S & P 500 had risen more than 5%, while the tech-heavy Nasdaq Composite was higher by more than 1%. For the S & P 500, those levels represent declines of about 6% to 9%, as of Thursday's close. Initial Claims (09/28) 9:45 a.m. PMI Composite final (September) 9:45 a.m. S & P PMI Services SA final (September) 10 a.m.

Persons: Jonathan Krinsky, Dow, Adam Turnquist, LPL Financial's Turnquist, Jeff Hirsch, he's bullish, Hirsch wouldn't, Lamb Weston, Nonfarm Payrolls, —, Nick Wells Organizations: Federal, Dow Jones Industrial, Dow, CNBC, Nasdaq, LPL, Chicago PMI, Dallas Fed, PMI, Manufacturing, Nike, McCormick, ADP, PMI Services SA, Services PMI, Constellation Locations: Europe, U.S, Chicago

☆ European markets head for higher open as investors weigh global economic outlook
▼ + stars: | 2024-09-27 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

LONDON — European markets headed for a higher open on Friday as investors weighed the outlook for the economy and looked to fresh data. European stocks had climbed Thursday, with the pan-European Stoxx 600 closing 1.25% higher after being boosted by gains in Asia-Pacific markets. Those widely continued their climb on Friday, still buoyed by China's announcement of stimulus measures earlier in the week. Economists are expecting headline PCE to have risen 2.3% on an annual basis and 0.1% from the previous month. Back in Europe, preliminary inflation data for September is expected out of France, and the latest German unemployment data is also due.

Persons: Germany's DAX Organizations: CAC, MIB, LONDON, People's Bank of, PCE Locations: Asia, Pacific, People's Bank of China, U.S, Europe, France

☆ Key Fed inflation gauge at 2.2% in August, lower than expected
▼ + stars: | 2024-09-27 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Economists surveyed by Dow Jones had been expecting all-items PCE to rise 0.1% on the month and 2.3% from a year ago. Excluding food and energy, core PCE rose 0.1% in August and was up 2.7% from a year ago, the 12-month number 0.1 percentage point higher than July. "All quiet on the inflation front," said Chris Larkin, managing director of trading and investing at E-Trade from Morgan Stanley. Personal income increased 0.2% on the month while spending rose 0.2%. At their meeting last week, policymakers indicated a likelihood of another half percentage point in cuts this year then a full point in reductions for 2025, though markets expect a more aggressive path.

Persons: Dow Jones, Chris Larkin, Morgan Stanley Organizations: Commerce Department, Fed, Stock Locations: U.S

☆ These are September’s top-performing S&P 500 stocks. Where analysts see them going next
▼ + stars: | 2024-09-27 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +4 min

Most analysts think that September's top-performing stocks could continue their ascent. September is a traditionally dicey for stocks: It's the worst month of the year for the S & P 500 , according to the Stock Trader's Almanac . With October right around the corner, CNBC Pro used FactSet data to screen for this month's top-performing stocks in the S & P 500 and find out where analysts see them going next. Constellation Energy is up more than 30% on the month, making it September's second-highest performer in the S & P 500. Power company Vistra has surged nearly 196% in 2024, and it's the top performer in the S & P 500 this month.

Persons: Morgan Stanley, David Arcaro, Vistra, Jefferies, Julien Dumoulin, Smith, Raymond James, Brian Gesuale Organizations: Federal, Dow Jones, CNBC Pro, Analysts, Constellation Energy, Microsoft, Constellation, Energy, Software, Palantir Technologies, Oracle, Delta Air Lines Locations: Thursday's

☆ China optimism is surging. Why some investors are cautious
▼ + stars: | 2024-09-27 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

A shareholder at a securities hall in Hangzhou, the capital of Zhejiang province in east China, on Sept. 24, 2024. "Markets should place more emphasis on the specifics of the stimulus," Lu said. The People's Bank of China this week cut major interest rates, and announced plans to lower rates for existing mortgage holders. Questions about scaleFor some investment institutions, that's still not enough to move the needle on their China outlook. A survey in September of more than 1,200 companies in China by the U.S.-based China Beige Book found that corporate borrowing declined, despite historic lows in the costs to do so.

Persons: Xi Jinping, Ting Lu, Lu, Nomura's Lu, that's, Paul Christopher, Christopher, Shehzad Qazi, Qazi Organizations: Getty, BEIJING, Shanghai, Nomura, People's Bank of, Finance, Wells, Wells Fargo Investment Institute, U.S Locations: Hangzhou, Zhejiang, China, Beijing, People's Bank of China, Wells Fargo, U.S . Federal, U.S

☆ Gold, silver head for weekly gains on U.S. rate-cut momentum
▼ + stars: | 2024-09-27 | by ( ) www.cnbc.com time to read: +2 min

Gold and silver prices retreated on Friday from record highs, but were positioned for weekly gains on growing anticipation of another bumper U.S. interest rate cut this year, as markets awaited a key inflation report for additional guidance. Gold and silver prices retreated on Friday from record highs, but were positioned for weekly gains on growing anticipation of another bumper U.S. interest rate cut this year, as markets awaited a key inflation report for additional guidance. Silver prices surged due to bullion's strong performance and China's stimulus measures, though some analysts warn that the rally may fade due to concerns over industrial demand. The Federal Reserve's larger-than-usual half-percentage-point reduction last week ignited a rally in gold, which hit consecutive record highs and has gained about 1.8% so far this week. Gold prices are currently supported by anticipated U.S. Fed interest rate cuts and China's stimulus measures, both of them are weakening the dollar, said Kyle Rodda, financial market analyst at Capital.com.

Persons: Kyle Rodda Organizations: FedWatch, U.S, BMI Locations: U.S

☆ Hedge fund billionaire David Tepper says he's loading up on Chinese stocks after the nation's stimulus bazooka
▼ + stars: | 2024-09-26 | by ( Matthew Fox | ) www.businessinsider.com time to read: +5 min

David Tepper is growing even more bullish on Chinese stocks amid the nation's new fiscal stimulus measures. Tepper views China's stock market as more attractive than the US stock market due to valuation differences. AdvertisementIt's a buy "everything" moment for Chinese stocks after the country launched a fiscal stimulus bazooka this week, according to billionaire investor David Tepper. But Tepper believes Chinese stocks have plenty of room to run higher, even after the recent surges. On US markets, Tepper said he is not following his buy "everything" mantra with Chinese stocks and is being more selective in buying US stocks.

Persons: David Tepper, Tepper, —, Pan Gongsheng, Donald Trump, he's Organizations: Service, CNBC, Fed, Federal, People's Bank of China, PDD Holdings, Tencent Holdings, Management, Wynn Resorts, Vegas Sands, Baidu, China Internet Locations: China, Vegas

☆ Ron Insana: China's stock rally won't last because its economic problems run too deep
▼ + stars: | 2024-09-26 | by ( Ron Insana | ) www.cnbc.com time to read: +5 min

China's stock market has recently rebounded on the promise of further economic and market stimulus. The measures include cuts to a variety of interest rates , as well as support for China's flagging real estate sector . China's stimulus efforts The Shanghai Composite has rallied sharply in the aftermath of those moves but remains about 50% below its all-time high of nearly 6,000, last seen in 2007. These moves have failed to boost growth or lead to a durable and sustainable stock market rally. The U.S. stock market accounted for roughly 60% of global stock market valuation in 2023.

Persons: David Tepper, Let's, Ron Insana Organizations: Bank, Atlanta, Apple, Microsoft, Nvidia, Amazon, European Union, U.S . Energy, Administration, The, U.S, Olympus, CNBC Locations: United States, China, It's, Shanghai, U.S, Beijing, Europe, Canada, European, The U.S, Russia, Iran, North Korea

☆ Veteran investor Dietze names the sectors — and stocks — he likes right now
▼ + stars: | 2024-09-26 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +3 min

Favorable valuations Small-cap stocks are one area Dietze is watching closely, given that they are trading at a "discount." Interest in small-cap stocks picked up in July and while the outlook has been mixed, he likes that "valuations are favorable" right now. Emerging markets Another popular segment Dietze is focusing on is emerging markets, thanks to the potential from their rapidly growing population numbers. Countries classified as emerging markets include China, India, South Korea, Taiwan and Brazil. Year-to-date, the MSCI Emerging Markets Index is up 0.56%.

Persons: Dow Jones, David Dietze, CNBC's, Dietze's, Russell, Jerome, Dietze, Hershey, —, Jesse Pound Organizations: U.S, U.S . Federal, mull, Dow, Nasdaq, Federal, CNBC, Myers Squibb, BHP Group Locations: U.S ., U.S, China, India, South Korea, Taiwan, Brazil, Bristol

☆ David Tepper's big bet after the Fed rate cut was to buy 'everything' related to China
▼ + stars: | 2024-09-26 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

Billionaire hedge fund founder David Tepper said his big bet after the Federal Reserve's rate cut was to buy Chinese stocks. "We got a little bit longer, more Chinese stocks," Tepper continued. FXI 1D mountain iShares China Large-Cap ETF The iShares China Large-Cap ETF (FXI) rallied more than 6% following Tepper's comments, extending its gains from a winning session for Chinese and Hong Kong stocks. Tepper also noted the Chinese market is cheaper than U.S. equities. To be sure, rising geopolitical concerns including further tariffs between the U.S. and China have spooked many investors away from the China market.

Persons: David Tepper, Tepper, CNBC's, Xi Jinping Organizations: Fed, Appaloosa Management, Baidu, Wynn Resorts, U.S Locations: China, U.S, Hong Kong, Sands

☆ Stock futures are little changed as traders brace for Fed’s preferred inflation reading: Live updates
▼ + stars: | 2024-09-26 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Stock futures traded near the flatline Thursday night as Wall Street awaits a key inflation reading. Futures tied to the Dow Jones Industrial Average were little changed, as were S&P 500 futures . In the fiscal fourth quarter, the warehouse retailer reported earnings of $5.29 per share on $79.70 billion in fourth-quarter revenue. The so-called PCE is the Federal Reserve's preferred inflation metric, and policymakers and Wall Street alike are hoping for figures that show a cooling trend. The three major indexes are higher for the week, with the S&P 500 up nearly 0.8% and the 30-stock Dow Jones Industrial Average on pace to rise 0.3%.

Persons: LSEG, Jeffrey Roach Organizations: NYSE, Stock, Dow Jones, Nasdaq, Costco Wholesale, Financial, Traders Locations: U.S

☆ How rate cuts impact the housing market
▼ + stars: | 2024-09-26 | 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 EmailHow rate cuts impact the housing marketDon Peebles, Peebles Corp chair and CEO, joins 'Power Lunch' to discuss Peebles' thoughts on the Federal Reserve's moves, why they may need to do more, and if the economy needs a series of bigger rate cuts still.

Persons: Don, Peebles Organizations: Peebles Corp, Federal Locations: Don Peebles, Peebles

☆ U.S. new vehicle sales expected to have struggled during third quarter
▼ + stars: | 2024-09-26 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

DETROIT — U.S. sales of new vehicles are expected to have struggled during the third quarter amid economic and political uncertainties, as well as elevated interest rates and prices, according to industry forecasters. Sales are expected to fall roughly 2% during the third quarter compared with the same time in 2023, to about 3.9 million vehicles sold, according to Cox Automotive and Edmunds.com. That would be a roughly 5% decrease compared with the second quarter of this year. "2024 has been a volatile year for the new vehicle market, and more of the same is expected in Q4," said Charlie Chesbrough, Cox Automotive senior economist. Both Cox and Edmunds expect light-duty U.S. vehicle sales to total about 15.7 million vehicles in 2024.

Persons: Charlie Chesbrough, Cox, Edmunds, Jessica Caldwell Organizations: DETROIT, Cox Automotive, Federal, CNBC Locations: U.S

☆ Buying a home is going to get affordable again — but you might have to wait until 2030
▼ + stars: | 2024-09-25 | by ( Jacob Zinkula | Andy Kiersz | ) www.businessinsider.com time to read: +3 min

Read previewBuying a home could get much more affordable, but Americans might have to wait a while. AdvertisementHere's how Goldman Sachs expects this to play out. To be sure, predicting the future of the US housing market is no easy task, and housing affordability levels will continue to vary by city and state. But if Goldman Sachs is right — and these three developments come to pass in line with the bank's projections — buying a home could become much more affordable for Americans. Viswanathan said Goldman Sachs expects US home prices to rise 4.4% in 2025, up from a 3.2% projection in April.

Persons: —, Goldman Sachs, Vinay Viswanathan, Viswanathan, it's Organizations: Service, Business, Federal Reserve

☆ Gold touches record high on rate-cut bets, weaker U.S. dollar
▼ + stars: | 2024-09-25 | by ( ) www.cnbc.com time to read: +2 min

Gold bars sit in a vault at the Perth Mint Refinery, operated by Gold Corp, in Perth, Australia, on August 9, 2018. Gold hit a record high on Wednesday, boosted by a softer U.S. dollar and hopes of more interest rate cuts, while investors looked for new signals for the Federal Reserve's interest rate trajectory. Spot gold was steady at $2,658.08 per ounce, as of 0557 GMT, after hitting an all-time high of $2,670.43 earlier. On Tuesday, China announced a slew of support measures including outsized rate cuts, after the U.S. Fed cut rates by 50 basis points last week. Inflows to gold exchange-traded funds, particularly from Western investors, will rise in the coming months, providing further support for record-high bullion prices, analysts said.

Persons: Gold, Kelvin Wong, OANDA's, Wong, Michelle Bowman, Jerome Powell's, heightening Organizations: Perth Mint Refinery, Gold Corp, U.S, Fed, Asia Pacific, Traders Locations: Perth, Australia, China, Beirut

☆ 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

☆ Investors should still keep emergency funds liquid after the Fed's interest rate cut, advisor says
▼ + stars: | 2024-09-25 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +2 min

After years of higher yields on cash, the Federal Reserve's shifting policy means lower future returns on savings, certificates of deposit and money market funds. Despite falling rates, investors should still keep emergency funds "liquid," meaning the cash can be easily tapped, financial experts say. Banks use the federal funds rate to lend to and borrow from one another. Meanwhile, the biggest retail money market funds were still paying around 5%, as of Sept. 24, according to Crane Data. If you have been earning 4% to 5% on emergency savings, you could see a "small reduction" in the short term, said Kenealy, who recommends keeping emergency funds where they are.

Persons: Kathleen Kenealy, Banks, Kenealy Organizations: Finance, Data Locations: Woburn , Massachusetts

☆ CNBC Daily Open: Some caution might be good for markets
▼ + stars: | 2024-09-25 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. While analysts think this move may mark the end of China's deflationary streak, many think monetary policy is not enough. How much will oil demand grow? The International Energy Agency thinks oil demand will level off at 106 million barrels per day by the end of the decade.

Persons: Larry Hu, Consumer's, September's, Dow Organizations: CNBC, Dow Jones, U.S ., People's Bank of China, Macquarie, International Energy Agency, U.S, U.S . Federal, Barclays, Citi Locations: Corte Madera, Corte Madera , California, Asia, Pacific, China, U.S .

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