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☆ Stock market today: Indexes trade mixed as record-setting rally wavers ahead of more data, Fedspeak
▼ + stars: | 2024-09-25 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

The rally in US stocks took a breather on Wednesday as traders looked ahead to coming economic data. Major indexes wobbled and bond yields were slightly higher. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Major stock averages pulled back slightly after notching a series of record-highs since last week's rate cut, while bond yields edged up slightly. "Traders will be curious to hear more thoughts on the rate cut and any guidance on further monetary policy easing."

Persons: —, Powell, Hogan, Riley Wealth Organizations: Service, Federal Reserve, Treasury, Fed, US Treasury Market Conference, Federal

☆ 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 .

☆ 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

☆ 'Don't fight the Fed': Barclays and Citi turn bullish on these stocks after rate cut
▼ + stars: | 2024-09-25 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

The move prompted Wall Street giants Barclays and Citi to adopt a more optimistic stance on global cyclical stocks. Barclays believes the Federal Reserve's actions are "clearly designed to pull out all the stops to achieve a soft landing" for the economy. Barclays strategists noted that "cyclicals typically rebounded steadily after the Fed started its rate cut cycle ... as long as it was not followed by a recession." Citi strategists share a similar outlook for European stocks. "The scale of the downgrades has become so extreme of late that we're now approaching a point where negative ERI may be a useful contrarian indicator," the Citi strategists said.

Persons: Emmanuel Cau, Beata Manthey, we're, Safran, Atlas, — CNBC's Michael Bloom Organizations: Federal Reserve, Wall Street, Barclays, Citi, Fed, Siemens, BBVA, ING, Holcim, ASM Locations: United States

☆ These companies could be poised to start paying dividends, Morgan Stanley says
▼ + stars: | 2024-09-25 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +4 min

The Federal Reserve's move to start cutting interest rates bodes well for dividend-paying stocks, and Morgan Stanley thinks several companies are poised to join their ranks. "Equity investors are seeking durable, higher yielding dividends as market volatility is expected to continue throughout the easing cycle," wrote Morgan Stanley strategist Todd Castagno in a report last Friday. Morgan Stanley drew up a list of companies that might have what it takes to start paying dividends, drawn from stocks that boast net cash and generate a free cash flow exceeding 3%. Instacart was also seen as a potential dividend initiator by Morgan Stanley. Other companies that Morgan Stanley highlighted as potential dividend initiators include short-term vacation rental company Airbnb and biotech play United Therapeutics .

Persons: Morgan Stanley, Todd Castagno, Castagno, Morgan, Piper Sandler, James Fish, Instacart, Raymond James, Josh Beck Organizations: Equity, Companies, United Therapeutics

☆ 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

☆ Market headed for first winning September in 5 years, but don't get too comfortable
▼ + stars: | 2024-09-24 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

In fact, the S & P 500 is on pace for a winning September — its first since 2019 — with a gain of more than 1%. The month is typically the worst stretch of the year on average for all three major averages and the Russell 2000, according to the Stock Trader's Almanac. Some of September's strength could be attributed to the Federal Reserve's supersized rate cut last week . The S & P 500 notched a fresh record close on Monday and an intraday all-time high on Tuesday. The benchmark S & P 500 typically pulls back nearly 1% on average in October in election years, per the Stock Trader's Almanac.

Persons: —, Russell, Gary Pzegeo Organizations: Federal, CIBC Private Wealth Management

☆ The stock market rally risks sparking an unsustainable 'melt-up' as the economy overheats, market vet Ed Yardeni says
▼ + stars: | 2024-09-24 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

The stock market runs a bigger risk of an unsustainable melt-up, according to Ed Yardeni. AdvertisementStocks run the risk of seeing an unsustainable, dot-com style melt-up, thanks to the Federal Reserve's recent rate cut, according to market veteran Ed Yardeni. That move sparked a rally in stocks to fresh records —but it's also raised the odds of a stock market melt-up, he said, meaning investors are now facing the risk of an unsustainable market boom. And while inflation has cooled from its highs several years ago, it is still a risk, Yardeni noted. Advertisement"If they get to overheat the economy and get to create a bubble in the stock market, yeah they're creating some issues," Yardeni added.

Persons: Ed Yardeni, —, Stocks, it's, Yardeni, Michelle Bowman, haven't Organizations: Service, Bloomberg, Yardeni, Labor Department, Atlanta Fed

☆ These 23 companies can benefit most as raises become rarer, Goldman Sachs says
▼ + stars: | 2024-09-24 | by ( James Faris | ) www.businessinsider.com time to read: +4 min

Goldman SachsWage growth is down from 6% in August 2022 to 3.9%, according to Goldman Sachs. Still, Goldman Sachs thinks the US unemployment rate will drift down to 4% in 2025, which would be a healthy figure. An influx of immigrants may have affected this trend, Goldman Sachs economists say. Goldman SachsLabor costs rose 7% in 2023 for S&P 500 companies and 5% for firms in the Russell 2000, Goldman found. Goldman Sachs shared a sector-neutral list of 50 stocks in the S&P 500 that have high labor costs, which should disproportionately benefit as wage inflation slows as raises become rarer.

Persons: —, Goldman Sachs, David Kostin, Kostin, Russell, Goldman Organizations: Service, Federal, Business, Goldman, Chief US, Goldman Sachs Labor, Companies Locations: Goldman Sachs

☆ Fed's jumbo interest rate cut puts the U.S. on track for a soft landing, Goldman CFO says
▼ + stars: | 2024-09-24 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +1 min

The Federal Reserve's move to lower interest rates by 50 basis points puts the U.S. economy on track for a soft landing, according to Goldman Sachs ' chief financial officer. His comments come as market participants question whether the U.S. central bank's jumbo rate cut has been delivered in time to bring down inflation without pushing the economy into recession. Some analysts have raised concerns about the outlook for the U.S. economy, warning that similar supersized rate cuts couldn't avert the recessions of the early 2000s and the global financial crisis. One basis point equals 0.01%. It was the first time the FOMC had cut by that much since the early days of the coronavirus pandemic, and, before that, the global financial crisis in 2008.

Persons: Goldman Sachs Locations: U.S

☆ Activist investor Jonathan Litt sees real estate boost from rate cuts, with some exceptions
▼ + stars: | 2024-09-24 | 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 EmailActivist investor Jonathan Litt sees real estate boost from rate cuts, with some exceptionsJonathan Litt, Land & Buildings founder & CIO, joins 'Fast Money' to talk the state of commercial real estate following the Federal Reserve's announcement it is lowering interest rates.

Persons: Jonathan Litt Organizations: Buildings

☆ Investors bought the rate cut: Equity flows were highest in nearly 2 years last week
▼ + stars: | 2024-09-24 | by ( Sarah Min | ) www.cnbc.com time to read: +1 min

Investors bought into the interest rate cut. Equity inflows last week were the largest they had been in roughly two years, according to Jill Carey Hall, equity and quant strategist at Bank of America Securities. The Wall Street bank reported its clients snapped up $6.9 billion worth in stocks, the highest level going back to October 2022. XLU YTD mountain Utilities Utilities were the big winner here. On the other hand, investors dumped financials, real estate and energy stocks last week.

Persons: Jill Carey Organizations: Bank of America Securities, Traders, Federal, Dow Jones Industrial, Utilities Utilities, Bank of, Tech Locations: Bank

Now that the Fed has cut rates, mortgage rates have generally held steady. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's interest rates will affect your monthly payments. Current 30-Year Mortgage RatesAverage 30-year mortgage rates have been holding steady at around 5.70%, according to Zillow data. Mortgage rates are determined by a variety of different factors, including larger economic trends, Federal Reserve policy, your state's current mortgage rates, the type of loan you're getting, and your personal financial profile. Now that the Fed has cut rates, mortgage rates may not drop further for the rest of the month.

Persons: you'll, Freddie Mac, it's, they've Organizations: Federal, Zillow, Fed Locations: Chevron

☆ Bitcoin jumps while Japan holiday dulls most currencies
▼ + stars: | 2024-09-23 | by ( ) www.cnbc.com time to read: +4 min

The Bank of Japan left interest rates unchanged last week and indicated it was not in a hurry to hike them again. That decision, coming just days after the Fed's 50 basis points rate cut, put a pause to the yen's sharp gains this month. With Japan closed for Autumnal Equinox Day, the main driver of trade was expectations around further Fed rate cuts and the gains those have spurred in equities, commodity currencies and other risk assets. The Fed's rate cut "appears to have calmed market fears of a U.S. recession", Goldman Sachs said in a note. Meanwhile, the majority of economists polled by Reuters anticipate two more 25 bps rate cuts at the Fed's final two meetings this year.

Persons: Bitcoin, Goldman Sachs, Christopher Waller, Fumio Kishida, Takaichi —, —, Shigeru Ishiba, Shinjiro Koizumi, Junichiro Koizumi, Takaichi, pare Organizations: Federal, Bank of Japan, Japan, U.S, U.S ., FedWatch, Treasury, Reuters, House Republicans, Liberal Democratic Party, Barclays, The Bank of Locations: United States, Japan, U.S, The Bank of England

☆ Asia-Pacific markets open lower after Federal Reserve rate cut optimism sent markets higher last week
▼ + stars: | 2024-09-23 | by ( Anniek Bao | In | ) www.cnbc.com time to read: +1 min

A Chinese flag in Pudong's Lujiazui Financial District in Shanghai, China, on Sept. 18, 2023. Asia-Pacific markets opened lower Monday as investors assessed monetary policy decisions from Japan and China on Friday after U.S. Federal Reserve's sharp rate cut sent markets higher last week. Despite growing calls for lower interest rates, the People's Bank of China unexpectedly left its key benchmark rate on hold on Friday. The Reserve Bank of Australia starts its two-day policy meeting on Monday, where central bankers will decide on the country's monetary policy path on Tuesday. Overall year-on-year CPI is expected to have cooled to 2.15%, compared to 2.40% the previous month

Organizations: National Bureau of Statistics, People's Bank of China, Reserve Bank of Australia Locations: Lujiazui, Shanghai, China, Asia, Pacific, Japan, Federal, Singapore

☆ Here are the most important days for the stock market between now and the November election, according to BofA
▼ + stars: | 2024-09-23 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

There are key stock market catalysts on the horizon before November. In a Monday note, Bank of America highlighted the most important days for the stock market between now and the November Presidential election. AdvertisementBank of AmericaNovember 6Technically the day after the election, the most important day for the stock market is November 6, when markets can react to the results. The stock market experienced a similar-sized move on the day after the prior Presidential election, with the S&P 500 jumping 2.2% on November 4, 2020. But now that the Fed has started its cutting cycle, we think labor market data (e.g.

Persons: — Organizations: Service, Federal, Bank of America, Investors, Fed Locations: United States

☆ Economic conditions are 'nearly perfect' and the Fed has engineered a 'miraculous' achievement, Evercore founder says
▼ + stars: | 2024-09-23 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

In a Monday-morning appearance on CNBC, Evercore founder Roger Altman praised the Fed for delivering "nearly perfect" economic conditions, citing strength in equities, profits, and employment. Only inflation — which still hovers above the Fed's 2% target rate — is holding off an official soft landing declaration, he said. AdvertisementAlthough there are some concerns rate cuts will reignite inflation, Altman is expecting to see a slowdown this week when new consumption-expenditures data is released. Related stories"I think what essentially happened was that the Fed saw the path on inflation steadily downward as more certain than the path on labor markets, a little more uncertainty about labor markets," Altman said. "So it took a stronger step to fortify labor markets, and went for 50."

Persons: —, Roger Altman, Powell, Altman, Larry Summers Organizations: Service, CNBC, Business, Fed

☆ Wall Street hovers near record highs. Here's why we want to see choppiness
▼ + stars: | 2024-09-23 | by ( Paulina Likos | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. The Dow closed Friday at a record while the S & P 500 did so Thursday . Despite a slight dip in the S & P 500 Friday, the S & P Short Range Oscillator moved further into overbought territory at 7.3%. 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, Stocks, Jim Cramer's, Morgan Stanley, Goldman Sachs, Jim, Jeff Marks, Jeff Organizations: CNBC, Dow, Health, Intel, Qualcomm, Bloomberg News, Apollo Global Management, Apple, Barclays, JPMorgan, Citigroup Locations: U.S

☆ Here are 3 stocks to buy after the Fed's 'crisis level cut,' according to one strategist
▼ + stars: | 2024-09-23 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +4 min

The move they made is a big cut," SlateStone Wealth's Kenny Polcari told CNBC's " Street Signs Asia " on Sept. 19. Calling it a "crisis level cut," he added that "people [are] scratching their heads, going, what's it really mean?" Federal Reserve Chair Jerome Powell stressed that the big rate cut does not signal that the risk of a recession is elevated. According to FactSet data, of the 20 analysts covering the stock, 18 give it a buy or overweight rating, while two have a hold rating. Biotech play Another stock Polcari is bullish on is biopharmaceutical player Amgen , given its pipeline of new products .

Persons: Kenny Polcari, CNBC's, Jerome Powell, Polcari, Amgen, — CNBC's Sean Conlon Organizations: U.S, Biotech, U.S . Food, Drug Administration, Euronext, Nasdaq, Nvidia Locations: Federal, U.S, Amgen, Euronext Amsterdam, Dutch, ASML

☆ Stock market today: Dow ends at a record high as markets see rising odds of another big rate cut
▼ + stars: | 2024-09-23 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

US stocks rose Monday, with the Dow closing at a record high amid hopes for more rate cuts. Odds of a 50 basis point rate cut at the next FOMC meeting increased to 53%, up from 29% last week. AdvertisementUS stocks gained on Monday with the Dow Jones Industrial and S&P 500 closing at record highs as hopes of more Fed interest rate cuts ramped up. According to the CME FedWatch Tool, markets expect the Fed funds rate to fall to below 3% by the end of 2025, from 4.83% on Monday. That lines up with Kashkari's projection for the long-term Fed funds rate to sit at around 2.9%.

Persons: —, Austan Goolsbee, Neel Kashkari, Goolsbee, Kashkari Organizations: Dow, Service, Dow Jones Industrial, Federal, Chicago Fed, Minneapolis Fed, Fed Locations: Chicago

☆ Fed's reaction is neutral for rates, positive for equities, strategist says
▼ + stars: | 2024-09-23 | 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's reaction is neutral for rates, positive for equities, strategist saysMohit Kumar, chief economist and strategist for Europe at Jefferies, discusses the Federal Reserve's first rate cut and Chair Jerome Powell's latest messaging.

Persons: Mohit Kumar, Jerome Powell's Organizations: Jefferies, Federal

☆ European stocks poised to start the week positively as markets remain buoyed by Fed cut
▼ + stars: | 2024-09-23 | by ( Holly Ellyatt | ) www.cnbc.com time to read: 1 min

LONDON — European stocks are expected to start the week in positive territory as global markets continue to react positively to the U.S. Federal Reserve's interest rate cut last week. The U.K.'s FTSE index is seen opening 46 points higher at 8,245, Germany's DAX up 87 points at 18,810, France's CAC 40 up 40 points at 7,359 and Italy's FTSE MIB up 169 points at 33,821, according to data from IG. Global markets continue to trade higher following the Fed's 50-basis-point cut last week, its first cut in four years. Asia-Pacific markets were mostly higher overnight as investors digested monetary policy decisions from Japan and China as well as the Fed's sharp cut. Dow futures were near flat Sunday night after enthusiasm for last week's interest rate cut propelled the blue-chip index to a record closing level.

Persons: Germany's DAX Organizations: U.S, CAC, IG, Global, Dow Locations: U.S . Federal, Asia, Pacific, Japan, China

☆ Modelo maker Constellation Brands jumps, and the S&P 500 eyes another record close
▼ + stars: | 2024-09-23 | by ( Jeff Marks | ) www.cnbc.com time to read: +3 min

Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. After struggling near the open, consumer staples is making a push higher on the daily S & P 500 sector leaderboard. 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, There's, We're, Piper Sandler, Brown, Forman, Eli Lilly, Lilly, Jim Cramer's, Jim Organizations: CNBC, ., Constellation Brands, Corona, Modelo, Sunday, Abbott Laboratories, GE Healthcare, Novo Nordisk, Apple, Microsoft, Nvidia, Broadcom, Motors, Starbucks, Thor, Philadelphia Federal, Conference, Richmond, Jim Cramer's Charitable

☆ Stock market today: Indexes extend gains as investors gear up for fresh economic data
▼ + stars: | 2024-09-23 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

Investors await key economic data this week, including consumer confidence, revised GDP growth, and the PCE Index. Minneapolis Fed President Neel Kashkari defended the recent rate cut and sees more cuts ahead. AdvertisementUS stocks rose on Monday, with the S&P 500 and Dow Jones Industrial Average testing record highs as investors prepare for fresh economic data this week. Investors will get consumer confidence data on Tuesday, another revision to second-quarter GDP growth on Thursday, and fresh inflation data on Friday with the release of the personal consumption expenditures index. The chatter comes just a few days after the Fed cut interest rates by 50 basis points at the end of its policy meeting last Wednesday.

Persons: Dow Jones, Neel Kashkari, —, Kashkari Organizations: Dow, Minneapolis, Service, Dow Jones, Federal, Governors, CNBC, Fed, Here's

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