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☆ Fed Chief Powell says the disinflationary process has begun, but has a long way to go
▼ + stars: | 2023-02-07 | by ( Jeff Cox | ) www.cnbc.com time to read: +1 min

Federal Reserve Chairman Jerome Powell said Tuesday that inflation is beginning to ease though he expects it to be a long process. "The disinflationary process, the process of getting inflation down, has begun and it's begun in the goods sector, which is about a quarter of our economy," the central bank chief said during an event in Washington, D.C. "But it has a long way to go. Powell spoke in a question-and-answer session at the Economic Club of Washington, D.C. with Carlyle Group co-founder David Rubenstein. Markets turned positive as Powell spoke as investors are hoping the Fed soon will halt the aggressive interest rate hikes it began last year. "My guess is it will take certainly into not just this year, but next year to get down close to 2%."

☆ Fed Chair Powell delivers first public remarks since monster jobs report
▼ + stars: | 2023-02-07 | by ( Alicia Wallace | ) edition.cnn.com time to read: +1 min

Minneapolis CNN —The US labor market remains “extraordinarily strong” and Friday’s monster jobs report underscores that the central bank has more work to do to bring down inflation, Federal Reserve Chairman Jerome Powell said Tuesday. “We didn’t expect it to be this strong,” Powell said of the January jobs report, which showed the US economy added 517,000 jobs. “The disinflationary process has begun,” Powell said, noting progress especially in goods prices. The robustness of the labor market has stood somewhat at odds with the Fed’s efforts to lower inflation. A key reason Fed Chair Jerome Powell wants more slack in the labor market is out of concern that a tight employment situation will continue to push up wages, which could then keep inflation elevated.

☆ Americans are on track to see 'a significant decline in inflation' this year, Fed's Powell says
▼ + stars: | 2023-02-07 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +3 min

Fed Chair Jerome Powell said on Tuesday that he expects "a significant decline in inflation" this year. But he cautioned the road to lower prices will be "bumpy," signaling further interest rate hikes. This comes after the January jobs report far surpassed expectations, adding 517,000 jobs. This discussion came after a shocking jobs report last week that found the US economy added 517,000 jobs in January, far surpassing economists' forecasts. "We expect 2023 to be a year of significant decline in inflation," Powell said.

☆ Watch CNBC’s full interview with Nuveen’s Saira Malik and Morgan Stanley’s Seth Carpenter
▼ + stars: | 2023-02-07 | 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 Nuveen’s Saira Malik and Morgan Stanley’s Seth CarpenterCNBC's Steve Liesman, Nuveen’s Saira Malik and Morgan Stanley’s Seth Carpenter join 'The Exchange' to react to Fed Chair Powell's remarks at The Washington Economic Club.

☆ Recession could literally start any quarter: Former NEC chief economist Joe Lavorgna
▼ + stars: | 2023-02-07 | by ( Melissa Lee | ) 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 EmailRecession could literally start any quarter: Former NEC chief economist Joe LavorgnaSMBC's Joe Lavorgna parses Powell's market talk at The Washington Economic Club today. With CNBC's Melissa Lee and the Fast Money traders, Tim Seymour, Bonawyn Eison, Dan Nathan and Guy Adami.

☆ Bitcoin trades around $23,000 after Fed Chair Powell warns that rates could rise further
▼ + stars: | 2023-02-07 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +1 min

Bitcoin hovered around the $23,000 level after Federal Reserve Chair Jerome Powell spoke at an event in Washington, D.C., noting that interest rates could rise higher if inflation winds up being hotter than anticipated. "My guess is it will take certainly into not just this year, but next year to get down close to 2%." Crypto prices pulled back and eventually turned lower with the broader market, as Powell said future economic reports may force the central bank to keep hiking rates aggressively. Treasury yields declined during the speech – the 10-year fell 1 basis point and the 2-year lost 5 basis points. Yields and the dollar index tend to move tend to move inversely to crypto.

☆ US stocks slip as investors brace for Fed Chair Jerome Powell's speech
▼ + stars: | 2023-02-07 | by ( Phil Rosen | ) www.businessinsider.com time to read: +2 min

US stocks traded lower Tuesday, with Fed Chair Jerome Powell scheduled to speak at 12:40 p.m. Markets rallied last week after the Fed's 25-basis-point rate hike and Powell's upbeat comments on the economy. Minneapolis Fed President Neel Kashkari said Tuesday the tight labor market shows the central bank has more to do to bring inflation back under control. After Powell's disinflation comment following the Fed's 25-basis-point rate hike last week, markets rallied. Investors interpreted the press conference as more dovish, and on Tuesday they will be watching for insight into upcoming monetary policy.

☆ Supply-driven inflation will be stickier than expected, says Federated Hermes' DeNichilo
▼ + stars: | 2023-02-07 | 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 EmailSupply-driven inflation will be stickier than expected, says Federated Hermes' DeNichiloWilliam Lee, chief economist at the Milken Institute, and Stephen DeNichilo, Federated Hermes portfolio manager, join ‘Power Lunch’ to react to Fed Chair Jerome Powell’s question-and-answer session at The Economic Club of Washington, D.C., this afternoon.

☆ US stocks rise as Powell says inflation is falling, but warns of higher interest rates
▼ + stars: | 2023-02-07 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

US stocks rose in a volatile trading session on Tuesday after Powell reiterated that inflation was falling. Investors also shrugged off Powell's warning that interest rates could rise, with all three stock indexes ending the day higher. Sign up for our newsletter to get the inside scoop on what traders are talking about — delivered daily to your inbox. Stocks jumped shortly after the remarks at the Economic Club of Washington, but then fell mid-afternoon as he warned interest rates would likely rise higher. Stocks then whipsawed before the end of the day, with all three benchmark indexes finishing solidly in positive territory.

☆ Stock futures are little changed as traders assess Fed Chair Powell's inflation remarks
▼ + stars: | 2023-02-07 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

Traders work on the floor of the New York Stock Exchange (NYSE) during morning trading on January 26, 2023 in New York City. U.S. stock futures were little changed on Tuesday night. Dow Jones Industrial Average futures fell by 44 points, or 0.13%. Chipotle shares fell more than 4% after missing expectations on the top and bottom lines in its latest results. Meanwhile, cybersecurity stock Fortinet jumped more than 15% after topping earnings per share estimates.

☆ Here's why the US economy won't fall into a recession this year or next, according to a key market signal
▼ + stars: | 2023-02-07 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

In that case, it may be wise to heed a key bond market signal that's saying we'll avoid a recession after all. But if you look at the bond market, there's a clear answer that seems to be forming: The US economy won't enter a downturn this year or next. That's because the spread between corporate bonds and Treasury yields is steadily narrowing, according to DataTrek Research. The spread between corporate bond yields and US Treasuries helps measure the risk appetite of bond traders. Strategists warned that markets have yet to price in an earnings recession, which could pose a major headwind in 2023.

☆ Jim Cramer's top 10 things to watch in the market Tuesday: Fedspeak, video games, memesters
▼ + stars: | 2023-02-07 | by ( Jim Cramer | ) www.cnbc.com time to read: +3 min

But puts first-quarter EBITDA guide at $710 million versus $762 million expected. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. 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.

He noted that a process of "disinflation" seemed to be taking hold so far without throwing employment off course - a hoped-for outcome if it can continue but one that might prove unsustainable if job growth doesn't slow. The full impact of the Fed's already-anticipated rate increases still has not been felt on the economy, meaning the current strength in the job market and elsewhere may in fact begin to wane, Kamin said. Though job growth has remained remarkably strong, the economy is by many estimates still perhaps a million or more positions short of what would have been reached given job growth trends before the onset of COVID-19, suggesting more room for growth. "The data overran the Fed last week, and Powell and his colleagues are falling behind the curve again. Reporting by Howard Schneider; Additional reporting by Andrea Shalal; Editing by Dan Burns and Paul SimaoOur Standards: The Thomson Reuters Trust Principles.

☆ Powell's speech triggered record options bets, topping even the meme stock frenzy
▼ + stars: | 2023-02-07 | by ( Patti Domm | In | ) www.cnbc.com time to read: +8 min

he asked in a note, adding that the previous record amount of call buying activity was in January 2021 just as the meme stock frenzy peaked. Those options were big market bets, like in the SPDR S & P 500 ETF and Invesco QQQ Trust, which represents the Nasdaq 100. SPY 5D line spy Much of the volume was in zero-day to expiration options, which expire on the same day. "The reality is if you bought the stock market in January 2021 and held onto it for any time period, you would be happy." Stock Chart Icon Stock chart icon spyMuch of the volume was in zero-day to expiration options, which expire on the same day.

☆ Futures inch higher ahead of Powell speech
▼ + stars: | 2023-02-07 | by ( ) www.reuters.com time to read: +2 min

SummarySummary Companies Futures: S&P up 0.13%, Nasdaq up 0.27%, Dow flatFeb 7 (Reuters) - U.S. stock index futures edged higher on Tuesday, ahead of a speech by Federal Reserve Chair Jerome Powell later in the day that will be parsed for further clues on how long the central bank will keep interest rates higher. Nasdaq 100 e-minis rose the most among futures tracking Wall Street's three main indexes. Expectations of high rates for a protracted period dragged Wall Street's main indexes down on Monday. So far, 254 companies on the S&P 500 have reported quarterly earnings, with 69.3% of them beating expectations, according to Refinitiv. ET, Dow e-minis were up 4 points, or 0.01%, S&P 500 e-minis were up 5.25 points, or 0.13%, and Nasdaq 100 e-minis were up 34 points, or 0.27%.

☆ Fed Chair Powell: Ongoing rate increases appropriate
▼ + stars: | 2023-02-07 | 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 EmailFed Chair Powell: Ongoing rate increases appropriateFederal Reserve Chairman Jerome Powell speaks Tuesday afternoon with Carlyle Group Chairman David Rubenstein at The Economic Club in Washington, D.C.

☆ Watch Federal Reserve Chair Jerome Powell discuss inflation, interest rates and the economy
▼ + stars: | 2023-02-07 | by ( Jeff Cox | ) www.cnbc.com time to read: +1 min

Federal Reserve Chairman Jerome Powell speaks Tuesday afternoon in a question-and-answer session with Carlyle Group Chairman David Rubenstein. The discussion comes less than a week after the Fed raised its benchmark interest rate another quarter percentage point to a target range of 4.5%-4.75%. Following the move, Powell said he sees some signs that inflation is cooling in the economy but added that the central bank needs to keep up its guard. Read more:Fed's Neel Kashkari says central bank has not made enough progress, keeping his rate outlookThe Fed raised rates. Chair Powell says it's 'premature' to declare victory against inflationImportant wage inflation measure for the Fed rose less than expected in Q4

☆ Bitcoin struggles around $23,000 level as new-year rally loses steam
▼ + stars: | 2023-02-06 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

Bitcoin continues to trade in a tight range of $18,000 to $25,000 mark, keeping investors on edge about where the price is going next. Bitcoin fell as low as $22,655 early Monday morning, its lowest level since Jan. 31, according to Coin Metrics, after breaking through the $24,000 on Thursday. The price of bitcoin dipped below $23,000 over the weekend as investors digested the latest U.S. employment numbers and looked toward a batch of Federal Reserve member speeches. "Expectations are shifting to more tightening, and higher rates for longer (what the Fed has been saying all along), which is not good for risk-on assets," she added. Bitcoin is trading "at the deepest overbought condition in over two years" and is "due for a brake check," according to Wolfe Research.

☆ Jim Cramer's Investing Club meeting Monday: Fed speech, Caterpillar, Cisco
▼ + stars: | 2023-02-06 | by ( Krystal Hur | ) 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. (Jim Cramer's Charitable Trust is long CAT, CSCO, QCOM. 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.

The RBA is expected to deliver a fourth consecutive quarter-point interest rate hike to 3.35%, after inflation unexpectedly rose last year to a 33-year high of 7.8%. However, figures on Monday showed retail sales are falling for the first time in a year, a sign that higher rates are maybe starting to bite. chartGenerally speaking, Asian markets are feeling the heat from the sudden U.S. interest rate outlook shift following January's freakishly strong U.S. jobs report released on Friday. This may be the tightening of financial conditions Fed Chair Powell and his colleagues are seeking. The MSCI Asia ex-Japan index slumped 2.4% on Monday, its worst day since June last year, Chinese stocks had their worst day this year (blame Beijing-Washington tensions too) and Hong Kong tech stocks fell 3.6%.

☆ US stocks fall and bond yields jump ahead of speech from Fed chief Powell
▼ + stars: | 2023-02-06 | by ( Jason Ma | ) www.businessinsider.com time to read: +1 min

US stocks fell Monday as bond yields continued to spike on expectations for more hawkish Fed moves. That followed Friday's blockbuster jobs report that raised fears over a tight labor market. Fed Chairman Jerome Powell will speak Tuesday at the Economic Club of Washington. Meanwhile, iunvestors will be watching for remarks on Tuesday from Fed Chairman Jerome Powell, who will speak at the Economic Club of Washington. Here's where US indexes stood at the 4 p.m. market close on Monday:Here's what else is happening today:In commodities, bonds, and crypto:

☆ Stock futures inch higher as investors await Fed Chair Powell's speech
▼ + stars: | 2023-02-06 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Stock futures rose slightly in overnight trading as investors braced for the latest commentary due Tuesday from Federal Reserve Chairman Jerome Powell. Futures tied to the S&P 500 added 0.13%, while futures connected to the Dow Jones Industrial Average inched 20 points, or 0.07% higher. Nasdaq-100 futures rose 0.13%. The S&P 500 slid 0.61%, while the Nasdaq Composite dropped 1%. So far this season, a little over half of S&P 500 companies have reported earnings, with about 69% surpassing expectations, according to FactSet data.

☆ Stock futures slide to start week with more earnings and a Powell speech ahead
▼ + stars: | 2023-02-05 | by ( John Melloy | ) www.cnbc.com time to read: +1 min

U.S. stock futures were lower to start trading for the new week as investors awaited more earnings and an important speech from Federal Reserve Chairman Jerome Powell. The S&P 500 is up more than 7% for 2023. S&P 500 futures were lower by 0.3% and Nasdaq-100 futures fell by 0.4%. We are about halfway through fourth-quarter earnings season for the S&P 500 and the results have not been great. The S&P 500 just formed a bullish "Golden Cross" pattern and touched a 5-month high last week above the 4,100 level.

☆ A flurry of earnings reports, Fed rate hike, signs of a bull market
▼ + stars: | 2023-02-04 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

Earnings season continues next week, with Club holdings Linde (LIN), Emerson Electric (EMR) and Walt Disney (DIS) all set to report. Similarly, shares of Meta Platforms (META) have surged over 20% since CEO Mark Zuckerberg reassured investors Wednesday evening that 2023 would be the technology giant's "year of efficiency." The bull case is further supported by continued signs inflation is easing, a still-robust job market and the breadth of market-buying activity since the start of the year. Lastly on Wednesday, the Fed's Federal Open Market Committee raised the federal funds rate by 25 basis points, in line with expectations. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ Earnings and Fed Chair Powell will again drive markets in the week ahead
▼ + stars: | 2023-02-03 | by ( Patti Domm | In | ) www.cnbc.com time to read: +8 min

With few economic releases and the earnings season starting to wind down, an appearance by Federal Reserve Chairman Jerome Powell Tuesday could be among the newsiest events for markets in the week ahead. The Fed chair is speaking at the Economic Club of Washington D.C. at midday Tuesday. If he wanted to walk back anything, he could have done it then," said Art Hogan, chief market strategist at B. Riley. Economists said Friday's surprisingly strong jobs report should encourage the Fed to push forward with planned rate hikes. Earnings, earnings, earnings But there continues to be earnings news.

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