Fed Chair Powell says holding rates high for too long could jeopardize economic growth
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Federal Reserve Chair Jerome Powell expressed concern that holding interest rates too high for too long could jeopardize economic growth. Powell stated that reducing policy restraint too late or too little could unduly weaken economic activity and employment. The Fed's overnight borrowing rate currently sits at a range of 5.25%-5.5%, the highest level in 23 years. Markets expect the Fed to begin cutting rates in September and likely follow up with another quarter percentage point reduction by the end of the year. Powell emphasized the importance of the Fed's operational independence and stated that recent data shows the US economy continues to expand at a solid pace despite the deceleration in GDP.
#FederalReserve #JeromePowell #InterestRates #EconomicGrowth
https://www.cnbc.com/2024/07/09/fed-chief-powell-says-holding-rates-high-for-too-long-could-jeopardize-economic-growth.html
Singapore state investor Temasek to focus on early adopters of AI in the U.S.; cautious on China
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Singapore state investor Temasek plans to focus on early adopters of AI in the U.S. and be cautious on the Chinese market. Temasek's chief investment officer, Rohit Sipahimalani, stated that while the U.S. overall appears to be expensive, the S&P equal weight index is below its long-term average. Temasek's portfolio value rose to $389 billion Singapore dollars ($288 billion) in its financial year ended March. The firm is also optimistic about opportunities in India and Japan. Temasek's exposure to U.S. assets is not specified, but the Americas region constituted 22% of its portfolio. Chinese assets made up 19% of Temasek's portfolio, down from 22% in the previous financial year. Temasek is cautious about the Chinese market due to structural challenges and the need for an increase in domestic demand. The firm sees opportunities in sectors such as biotech, robotics, electrification, and the electric vehicle value chain. Temasek is also looking to invest in Japan, where it has seen a pickup in foreign investor interest. The firm has increased its exposure to Japan to 1% and is interested in co-investments alongside private equity funds. Temasek also sees opportunities in India and Europe, particularly in the green energy transition. For the 2024 financial year, Temasek has made SG$26 billion of investments into sectors such as technology, financial services, and healthcare. Temasek's mark to market net portfolio value stood at SG$420 billion. The firm does not have a specific target ratio for unlisted and listed assets in its portfolio but will invest when it finds the right opportunities. Temasek's one-year total shareholder return was up 1.6%, while the 10-year total shareholder return held steady at 6%. The company divested SG$33 billion for the financial year, resulting in a net divestment of SG$7 billion.
#Temasek #Ai #Us #China #Investments #Portfolio #Japan #India #GreenEnergy
https://www.cnbc.com/2024/07/09/singapore-state-investor-temasek-to-focus-on-early-adopters-of-ai-in-the-us-cautious-on-china-.html
Stock futures open lower as investors await inflation data, bank earnings this week: Live updates
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Stock futures opened lower as investors await inflation data and bank earnings this week. Futures tied to the S&P 500 were down 0.1%, while futures tied to the Dow Jones Industrial Average lost 31 points. The Nasdaq 100 futures hovered below flat. The S&P 500 has rallied about 16.7% this year, and the benchmark index just had its fourth positive week in the last five. The June consumer price index will be released on Thursday, and the producer price index data will be released on Friday. Traders are expecting two interest rate cuts in 2024, with the first in September. Major banks, including JPMorgan Chase, will kick off second-quarter earnings season this week. PepsiCo is also set to post results. Stocks opened in the red on Sunday evening.
#StockFutures #InflationData #BankEarnings #S&p500 #DowJonesIndustrialAverage #Nasdaq100 #InterestRateCuts #JpmorganChase #Pepsico
https://www.cnbc.com/2024/07/07/stock-futures-open-lower-as-investors-await-inflation-data-this-week-live-updates-.html
Microsoft reaches settlement in California over claims it punished employees for taking protected time off
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Microsoft has agreed to pay $14.4 million to settle claims that the company unfairly treated California employees who took protected time off. The settlement money will go to affected employees. Managers and human-resources workers will receive training if a judge approves the proposed settlement. According to the complaint, Microsoft doesn't do enough to stop managers from taking protected leave into consideration when assessing an employee's' "impact," a factor that's involved in the calculation of annual bonuses, promotions, stock awards, and merit increases. Microsoft employs around 6,700 people in California out of its total workforce of 221,000. As part of the settlement, Microsoft will provide training to managers and human-resources employees and will be monitored for compliance. Employees have reported feeling worried about retaliation after asking for protected leave. Microsoft disputes the agency's claims.
#Microsoft #Settlement #ProtectedTimeOff #California #Employees
https://www.cnbc.com/2024/07/03/microsoft-to-settle-case-on-protected-leave-for-california-employees.html
European economy on a much more 'stable path' than U.S., Bank of Portugal's Mario Centeno says
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Bank of Portugal's Mario Centeno states that the European economy is on a more stable path than the U.S. economy. He believes that the rate policies of the Federal Reserve (Fed) and the European Central Bank (ECB) will diverge due to the differences in their economies. The market is assigning a higher probability of a Trump election win, according to Societe Generale's Rajappa. The article provides links to various sections on the CNBC website, including pre-markets, U.S. markets, futures and commodities, funds and ETFs, and more. The article does not provide specific dates or timelines.
https://www.cnbc.com/video/2024/07/02/bank-of-portugals-mario-centeno-eu-on-more-stable-path-than-us.html
What to know ahead of Friday's Russell index rebalancing
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The annual reconstitution of the Russell indexes is scheduled to take place on Friday's market close. Technology and healthcare sectors are playing key roles in this year's rebalancing. The Russell 1000 is being replenished by technology companies, reflecting the reengineering of the U.S. economy around technology. Small-cap stocks in the Russell 2000 index are seeing a boost in the healthcare sector, with 41 of the 243 companies joining the index falling under healthcare. The sector's weighting is expected to increase to 16.7% from 14.7% after the rebalancing. Technology retains its status as the largest sector, with a weighting of 34.6%. The Russell 1000 has gained 13.9% so far in 2024, while the Russell 2000 is up by half a percent.
#RussellIndex #Rebalancing #Technology #Healthcare #Stocks
https://www.cnbc.com/2024/06/28/russell-reconstitution-to-emphasize-technology-health-care-ceo.html
Trump threatens U.S. economic framework in a 'significant way': billionaire investor Tom Steyer
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Billionaire investor Tom Steyer warns that President Trump is threatening the U.S. economic framework in a significant way. Steyer expresses concern about the impact of Trump's policies on the economy and believes that they pose a significant risk. The article does not provide specific details about the nature of the threat or the specific policies that Steyer is referring to. The article also mentions other news topics such as Hims & Hers shares falling on a report about drugs from a 'shady supplier', a jury ordering the NFL to pay $4.7 billion in damages in a Sunday Ticket trial, and the generative AI funding race heating up. The article does not provide any additional information or analysis on these topics. The article is hosted by Brian Sullivan and is part of the "Last Call" show on CNBC. The article does not provide a publication date or time. The genre of the article is not specified. The article does not provide any tags or taxonomy information. There is no flag applicable to this article.
https://www.cnbc.com/video/2024/06/27/trump-threatens-u-s-economic-framework-in-a-significant-way-billionaire-investor-tom-steyer.html
Biden Cabinet officials roll out new plans to cut costs of living ahead of Trump debate
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Biden Cabinet officials, including Treasury Secretary Janet Yellen, National Economic Council Director Lael Brainard, and Transportation Secretary Pete Buttigieg, have been on a 10-day tour across the U.S. to promote President Biden's economic agenda. The tour included 29 public events in 15 states, including key battlegrounds. The officials have announced new plans to lower costs, such as temporarily lowering the out-of-pocket costs of some prescription medications for seniors and creating a $100 million affordable housing fund. The goal of the tour is to showcase Biden's economic agenda and counter Republican narratives about inflation. The tour comes as consumer confidence has slightly decreased this month. The Department of Labor is set to release weekly initial jobless claims data and an updated estimate of U.S. Gross Domestic Product on the day of the debate. The Federal Reserve will also release May data from the Personal Consumptions Expenditure index, which will further test the candidates' claims about the economy.
#BidenCabinet #EconomicAgenda #CostsOfLiving #TrumpDebate #PrescriptionMedications #AffordableHousing #ConsumerConfidence #JoblessClaims #GrossDomesticProduct #Inflation
https://www.cnbc.com/2024/06/26/biden-cabinet-economy-publicity-trump-debate-election.html
Treasury yields climb as investors weigh comments from Fed speakers
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U.S. Treasury yields were higher on Wednesday as investors considered the latest comments from Federal Reserve officials about monetary policy and awaited key economic data. At 3:56 a.m. ET, the yield on the 10-year Treasury note was up by over three basis points to 4.2728%. The 30-year yield was last at 4.7306% after rising by close to four basis points. Investors digested remarks from Federal Reserve officials about the U.S. economy and the outlook for interest rates. Fed Governor Michelle Bowman said the central bank was not ready to cut rates, but did not take further interest rate hikes off the table. Fed Governor Lisa Cook expects little change to inflation rates this year, but sees inflation slowing more sharply next year. Investors also looked ahead to key economic data due later in the week, including the personal consumption expenditure price index on Friday. On Wednesday, investors will be following the release of durable goods orders, pending home sales, and weekly initial jobless claims. A final reading of first-quarter gross domestic product for the U.S. is also slated.
https://www.cnbc.com/2024/06/26/us-treasury-yields-as-investors-weigh-fed-speaker-comments.html
Treasury yields are flat as investors gear up for inflation data
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Treasury yields are flat as investors gear up for inflation data. The 10-year Treasury yield is flat at 4.257% and the 2-year Treasury yield is slightly higher at 4.736%. Investors are looking for signs that September may be the month for an interest rate cut from the Federal Reserve. The personal consumption expenditures price index, the Fed's preferred inflation gauge, is expected to cool to 2.6% in May from 2.8% in April. Traders are currently pricing in a 66% chance of a September cut. Various Fed officials are due to speak this week and data on house prices, new home sales, jobless claims, and consumer confidence will be released. The rate of first-quarter growth in the U.S. economy is expected to be confirmed at 1.6%.
#TreasuryYields #InflationData #FederalReserve
https://www.cnbc.com/2024/06/24/treasury-yields-are-flat-as-investors-gear-up-for-inflation-data.html
CNBC Daily Open: Nvidia unseats Microsoft as world's most valuable company
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Nvidia surpassed Microsoft to become the world's most valuable public company with a market cap of $3.34 trillion. This milestone comes after a 170% surge in Nvidia's share price this year and a more than nine-fold increase since the end of 2022. Nvidia has an 80% share of the data center AI chip market. The S&P 500 dethroned Microsoft as the world's most valuable company. May retail sales raised concerns about the US economy. US retail spending grew by a meager 0.1% in May, signaling a slowdown in consumer spending. Taiwan Weighted index rose to a record high, crossing the 23,000 barrier. The Federal Reserve has signaled a possible rate cut by the end of the year. Boston Federal Reserve President Susan Collins expressed cautious optimism about recent inflation data. Federal Reserve Governor Adriana Kugler signaled the likelihood of a rate cut later this year. Wall Street is aware of the risk of tipping the economy into contraction by not cutting rates now.
#Nvidia #Microsoft #MarketCap #AiChipMarket #S&p500 #RetailSales #UsEconomy #TaiwanWeightedIndex #FederalReserve #RateCut #InflationData #WallStreet
https://www.cnbc.com/2024/06/19/cnbc-daily-open-nvidia-unseats-microsoft-as-worlds-most-valuable-company.html
New US truck, SUV fuel economy rules much less stringent than original proposal
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The US National Highway Traffic Safety Administration (NHTSA) has finalized fuel economy rules for trucks and SUVs through 2031 that are less stringent than originally proposed. The final rule will not require any increase in fuel economy standards for light trucks in 2027 and 2028, and will only require 2% increases from 2029 through 2031. The proposed new rules will result in much lower compliance penalties than originally proposed, which is seen as a significant win for Detroit automakers. Under the final rule, the auto industry is collectively expected to face a total of up to $1.83 billion in fines through 2031. The rule will hike fuel economy to about 50.4 miles per gallon by 2031 from the current 29.1 mpg. The Biden administration has taken several regulatory actions that did not tighten vehicle regulatory proposals as much as promised. Environmental groups have criticized the changes, while automakers have praised them.
#Us #Trucks #Suvs #FuelEconomy #Nhtsa #DetroitAutomakers #CompliancePenalties #BidenAdministration
https://www.cnbc.com/2024/06/07/us-truck-suv-fuel-economy-rules-less-stringent-than-original-proposal-biden.html
Biden touts ‘great American comeback' after better-than-expected May jobs report
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President Joe Biden touts the May jobs report, which showed that the U.S. economy added 272,000 nonfarm payrolls in May, surpassing the Dow Jones consensus estimate of 190,000. The unemployment rate rose from 3.9% to 4%, and the labor force participation rate decreased slightly to 62.5%. Biden calls it 'the great American comeback' and criticizes Congressional Republicans' economic plan. The strong job growth counters fears of a labor market slowdown and reduces the chance of the Federal Reserve lowering interest rates. Biden has been using the Dow's latest milestone to highlight his economic record and criticize former President Donald Trump. The Republican plan is accused of putting billionaires and special interests first and increasing inflation by repealing the Affordable Care Act.
#JoeBiden #MayJobsReport #UsEconomy #CongressionalRepublicans #FederalReserve #DonaldTrump #RepublicanPlan
https://www.cnbc.com/2024/06/07/biden-cheers-may-jobs-report-slams-congressional-gop-economic-plan.html
CNBC Daily Open: Dow drops on weak manufacturing data, GameStop soars
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The Dow Jones Industrial Average dropped more than 100 points after weak manufacturing data raised concerns about the strength of the U.S. economy. However, the S&P 500 edged higher by 0.11%, while the Nasdaq Composite gained 0.56%. GameStop closed 21% higher after jumping more than 70%, as meme stock leader Keith Gill appeared to hold on to a massive position in the video game retailer. Gill, who goes by "DeepF-----Value" on Reddit and "Roaring Kitty" on YouTube and X, posted a screenshot of his portfolio on Monday, showing the value of his common stock alone jumped to $140 million from $115.7 million as of Friday's close. Microsoft will cut some jobs at its augmented reality headset department that helps make HoloLens. Paramount and Skydance have agreed to merger terms of a deal valued at $8 billion. Novartis and Merck reported that their combination therapy, administered to patients with the deadliest form of skin cancer in conjunction with the therapy Keytruda, demonstrated improved survival rates and durable efficacy. Concerns about the strength of the economy weighed on the Dow. The Atlanta Federal Reserve's tracker sharply lowered its second-quarter growth forecast to 1.8% from 2.7%, following disappointing news from the manufacturing sector.
#DowJonesIndustrialAverage #S&p500 #NasdaqComposite #Gamestop #KeithGill #Microsoft #Hololens #Paramount #Skydance #Novartis #Merck #Keytruda #Economy #AtlantaFederalReserve
https://www.cnbc.com/2024/06/04/cnbc-daily-open-dow-drops-on-weak-manufacturing-data-gamestop-soars.html
Japanese billionaire Maezawa cancels moon flyby mission
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Japanese billionaire Yusaku Maezawa has cancelled his "dearMoon" mission, which would have been the first private flight around the moon. The team had originally aimed to make the circumlunar flight with celebrities on board by the end of last year, but that became unfeasible. Maezawa cited uncertainty over the project development and the lack of a clear schedule as the reasons for the cancellation. He signed the contract in 2018 based on the assumption that the launch would come by the end of 2023. Elon Musk's SpaceX named Maezawa its first private passenger in 2018. In 2022, Maezawa announced that K-pop star TOP and DJ Steve Aoki would be among the eight crew members for the mission. The flyby mission was scheduled for this year or later.
#YusakuMaezawa #Spacex #Dearmoon #MoonFlybyMission #SpaceTravel
https://www.cnbc.com/2024/06/01/japanese-billionaire-maezawa-cancels-moon-flyby-mission.html
Utility stocks offer AI exposure and a hedge against a slowing economy at a good price, Goldman says
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Utility stocks are an affordable way to gain exposure to the artificial intelligence trend and hedge against a slowing economy. Utilities have gained nearly 18% in the past three months to become the best performing sector in the S & P 500. The sector's long-term growth prospects are improving due to rising electricity demand from data centers and AI. The utilities' capital expenditure is expected to increase by roughly 36% over the next three years. NextEra, Xcel Energy, Sempra, and Southern Company offer the best exposure to the data center power demand surge. Utilities also offer a way to play defense against a slowing economy. Interest rates, however, are a potential headwind for the sector.
#UtilityStocks #ArtificialIntelligence #SlowingEconomy #GoldmanSachs
https://www.cnbc.com/2024/06/01/utilities-offer-ai-exposure-hedge-against-slowing-economy-goldman-says.html
Dow closes more than 570 points higher to post best day in 2024, stocks wrap a winning May: Live updates
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The Dow Jones Industrial Average jumped 574.84 points, or 1.51%, to 38,686.32, lifted by Apple's respective advances of 7.5% and 2.8%. The S&P 500 added 0.80% to 5,277.51. The Nasdaq Composite ticked lower by 0.01% to 16,735.02, as Amazon and a few other megacap technology stocks took a hit. The S&P 500 and Nasdaq snapped five-week win streaks with slides of 0.51% and 1.1%, respectively. The blue-chip Dow slipped 0.98%, marking a second straight week of losses. Despite the tough week, it was a winning May, with each of the major benchmarks registering a sixth positive month in seven. The Dow added 2.3% this month, while the S&P 500 rose 4.8%. The Nasdaq gained 6.88%, notching its best month going back to November.
https://www.cnbc.com/2024/05/30/stock-market-today-live-updates.html
Europe stocks set for another lower open as global sentiment sours ahead of inflation data
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European stocks are on course for a lower open Thursday, continuing a negative trend this week as global markets come under pressure from rising bond yields. Stoxx 600 index had its worst sessions of the month over the last two days, last closing at its lowest level since May 8. Investors are eagerly awaiting two inflation prints Friday. First to release will be the euro zone, amid over how how many times the European Central Bank will cut interest rates this year beyond its expected first cut at its June meeting next week. That will be followed by the U.S. personal consumption expenditures price index report, the Federal Reserve's preferred inflation gauge. European stock markets are set to extend losses on Thursday, according to IG data. The U.K.'s FTSE 100 was last seen down 36 points at 8,145, Germany's DAX 75 points lower at 18,402, and France's CAC 40 down 26 points at 7,914. Italy's MIB was seen slipping 125 points to 34,146. Shares of Australian miners fell after mining giant BHP walked away from its £38.6 billion ($49 billion) plan to take over rival Anglo American. Shares of BHP lost 1.73%, while counterparts Fortescue Group dropped 1.34% and 2.27% respectively. Although earnings from Salesforce beat analyst estimates by 6 cents, first quarter revenues fell short of expectations. The U.S. economy grew unevenly over the past six weeks while consumers recoiled against higher prices, the Federal Reserve reported Wednesday.
#EuropeanStocks #BondYields #InflationData #Stoxx600 #InterestRates #EuropeanCentralBank #Ftse100 #Dax #Cac40 #Mib #Bhp #AngloAmerican #FortescueGroup #Salesforce #FederalReserve #UsEconomy
https://www.cnbc.com/2024/05/30/europe-stocks-open-to-close-bond-yields-stocks-data.html
10-year Treasury rises as investors weigh state of economy
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U.S. Treasury yields were higher on Wednesday as investors considered the state of the economy and digested a weak auction on the five-year note. The yield on the 10-year Treasury was up by over two basis points to 4.5639%, holding above the 4.5% mark it initially crossed Tuesday. The yield on the five-year note was last less than one basis point higher to 4.9580%. Yields climbed higher Tuesday after a Treasury Department auction of 5-year notes worth $70 billion saw weak demand. The bid-to-cover ratio came in at 2.3, lower than the 2.45 10-auction average. Investors are also awaiting fresh economic data due throughout the week, including the personal consumption expenditures price index on Friday, which is the Fed's favored inflation gauge. Several Fed officials are also due to give remarks this week, which investors will be scanning for fresh hints about the path ahead for interest rates. Minneapolis Fed President Neel Kashkari stated that he was looking for "many more months of positive inflation data" before being comfortable with cutting rates. Fed officials have indicated that patience is needed when it comes to rate cuts, and they are looking for economic data to show inflation is sustainably returning to the central bank's 2% target before moving to ease policy.
#UsTreasuryYields #Economy #Auction #InterestRates #Inflation
https://www.cnbc.com/2024/05/29/us-treasurys-investors-weigh-state-of-economy.html
CEO credits her success to having teachers as parents—here's the 3-sentence mantra they taught her
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Julia Stewart, CEO and founder of Alurx, attributes her success to her parents, who were both high school teachers. She became IHOP's first-ever female CEO in 2002 and later led a risky takeover of Applebee's, creating the company Dine Brands. Stewart emphasizes the importance of lifelong learning and seeking feedback, as well as recognizing that one doesn't have to be the smartest person in the room to be a successful leader.
#Ceo #Teachers #Success #Leadership #Learning
https://www.cnbc.com/2024/05/26/longtime-ihop-ceo-having-teachers-as-parents-made-me-more-successful.html
CNBC Daily Open: Nvidia shares soar on AI boom
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Nvidia shares rose more than 7% and topped $1,000 for the first time in extended trading after its first-quarter earnings and sales beat analysts' expectations. The chipmaker expects second-quarter sales of $28 billion, compared with estimates of $26.6 billion. The company plans to split its stock 10 for 1. Wall Street sank on inflation fears as the Dow Jones plunged more than 200 points, marking its worst day so far this month. The S&P 500 and the Nasdaq Composite also lost ground. JPMorgan Chase CEO Jamie Dimon warned of a possible 'hard landing' for the US economy. Asian markets were mixed, with Hong Kong's Hang Seng index leading losses and Japan's Nikkei 225 rising 1.1%. Hedge funds are investing in under-the-radar AI plays while cutting back on mega caps. Nvidia's shares are up 92% this year and 200% over the last 12 months. The company expects to keep at least 75% of the AI accelerator market. Nvidia is considered the bedrock of the artificial intelligence revolution.
#Nvidia #Ai #StockMarket #Earnings #Inflation #DowJones #S&p500 #NasdaqComposite #JpmorganChase #JamieDimon #AsianMarkets #HedgeFunds
https://www.cnbc.com/2024/05/23/nvidia-soars-on-ai-boom.html
State Department will evacuate Americans from cruise ship, first death confirmed in Europe
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The State Department will evacuate Americans from a cruise ship where the coronavirus has infected passengers. China's National Health Commission reported an additional 143 deaths nationwide, as well as 2,641 new confirmed cases as of Feb. 14. Two weeks after the Lunar New Year holiday was originally supposed to end, Chinese businesses are still getting up to speed. The next two weeks will be crucial in determining the economic impact of the coronavirus, says IMF Managing Director Kristalina Georgieva. Pelosi warned of Chinese telecom giant Huawei's "insidious aggression" and called on other nations to work with the U.S. as the globe races to develop 5G. U.S. prosecutors brought fresh charges against Huawei, accusing the company of stealing trade secrets from American firms and violating sanctions on Iran and North Korea. After its energy business dipped in 2019, Tesla is under pressure to ramp up hiring and production at its solar panel factory in Buffalo, New York. Automakers working to restart manufacturing in China are trying to prevent operations elsewhere from being affected by supply shortages. The Singapore government is warning of scam calls made under the pretext of investigations linked to confirmed cases of coronavirus.
#Coronavirus #StateDepartment #CruiseShip #China #LunarNewYear #Imf #Huawei #Tesla #Automakers #Singapore
https://www.cnbc.com/world-top-news/
Forget U.S. stocks — UBS says Europe's are a better bet. Here's why
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UBS says European stocks are now more attractive than their U.S. counterparts. Factors such as economic data, interest rates, valuations, and earnings play a role in the shift. UBS forecasts that the gap between U.S. and eurozone GDP could soon close. Excess savings in Europe and looser bank lending conditions could benefit growth. Some of Europe's central banks have already begun easing, and the European Central Bank is expected to do so in June. Europe's valuations have started to look more attractive, with a higher equity risk premium and lower sector adjusted P/E compared to the U.S. Relative earnings momentum is moving in Europe's favor. Europe has industry-leading or unique companies without U.S.-based direct competitors.
#Ubs #EuropeanStocks #UsStocks #Investment #EconomicData #InterestRates #Valuations #Earnings #Gdp #CentralBanks #EquityRiskPremium #P/e #EarningsMomentum #TechnologyStocks
https://www.cnbc.com/2024/05/14/forget-us-stocks-ubs-says-europes-are-a-better-bet-heres-why.html
Behind America's divided economy: Booming luxury travel and a jump in 'relief' loans
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The U.S. economy is experiencing a 'K'-shaped recovery, with higher income classes benefiting while lower-income Americans struggle. Luxury brands catering to affluent consumers, such as American Express, are seeing strong spending on high-fee credit cards and travel. On the other hand, lending firm Upstart is witnessing an 80% surge in microloans for cash-strapped Americans. The divergence in economic realities has implications for the Federal Reserve and the overall economy. Lower-income households are facing financial pressures due to the end of fiscal stimulus, rising gas costs, and resumption of student loan payments. They are trading down and cutting back on spending, impacting brands like PepsiCo and Tyson Foods. In contrast, higher-income consumers remain optimistic and continue to spend on experiences and luxury goods. The economic divide has led to a decline in consumer sentiment among lower-income Americans and threatens hopes for a 'soft landing' in the economy. The Federal Reserve is monitoring signs of tightening and the impact of interest rate hikes. The article highlights the need for a comprehensive understanding of the divided economy and its implications for various stakeholders.
#UsEconomy #IncomeInequality #LuxuryTravel #ReliefLoans #ConsumerSpending #EconomicRecovery #FederalReserve
https://www.cnbc.com/2024/05/10/behind-americas-divided-economy-booming-luxury-travel-and-a-jump-in-relief-loans.html
Cramer says ongoing rally in utilities is a harbinger of economic slowdown
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CNBC's Jim Cramer suggests that the ongoing rally in the Dow Jones Utility Average indicates a slowing economy and lower interest rates. The utilities sector performs well during economic slowdowns because consumers must pay their utility bills. Cramer also mentions that utilities have to issue a lot of debt to maintain and expand their operations, and they are now spending more to support the growth of data centers. He believes that signs of a slowing economy have been appearing over the last few weeks, and Federal Reserve Chair Jerome Powell's comments about fewer interest rate cuts may have contributed to the slowdown. Cramer concludes that the rally in utilities is a signal that the economy is headed for a slowdown.
https://www.cnbc.com/2024/05/08/cramer-says-ongoing-rally-in-utilities-signals-an-economic-slowdown.html
Megacap tech may be the ultimate ‘quality' play in an uncertain economy, The ETF Store president suggests
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Investors are favoring megacap tech stocks as a quality play due to their tangible earnings and cash on the balance sheet, according to The ETF Store President Nate Geraci. Technology is currently the largest sector in the S&P 500, comprising nearly 30% of the index. The sector's earnings growth rate is projected to reach 23.7% for the first quarter. Even in an economic slowdown, Geraci believes quality tech names can remain in a leadership role as investors seek earnings and cash flow. However, not all tech stocks have performed equally well, with Cathie Wood's Ark Innovation ETF down 15% since the start of the year. Geraci suggests that investors are shying away from speculative bets and companies with earnings far into the future.
#MegacapTech #QualityPlay #UncertainEconomy #EarningsGrowth #InterestRates
https://www.cnbc.com/2024/05/08/why-tech-is-outperforming-markets-despite-higher-interest-rates.html
Warren Buffett says Berkshire Hathaway is looking at an investment in Canada
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Warren Buffett, the billionaire investor, announced that Berkshire Hathaway is considering an investment in Canada. Buffett has previously invested around $300 million in Home Capital Group, a troubled Canadian mortgage underwriter. He stated that Berkshire Hathaway does not expect to make significant investments outside the U.S., but Canada is an exception due to its similarity in operations with the U.S. Buffett did not disclose the specific company he is considering or whether it is public or private. The S&P/TSX Composite Index in Canada is up about 5% this year. The Berkshire Hathaway shareholder meeting is exclusively broadcast on CNBC.
#WarrenBuffett #BerkshireHathaway #Investment #Canada
https://www.cnbc.com/2024/05/04/warren-buffett-says-berkshire-hathaway-is-looking-at-an-investment-in-canada.html
The Fed would only cut rates to help the U.S. service its soaring debt, fund manager says
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Fund manager Freddie Lait believes that the Federal Reserve would only cut rates to help the U.S. cover interest payments for the national debt. Lait argues that there is no economic rationale for cutting rates and that the current level of interest rates is sufficient to balance inflation and growth. He suggests that the U.S. government's inability to afford higher rates is the only reason the Fed might be tempted to cut. The U.S. government is facing increased interest payments on its debt, with federal spending on interest expected to climb to $870 billion this year. Lait believes that the exponential growth in government spending on debt will pose a problem for the next U.S. president. He suggests that the solution would be to either live with higher yields or reduce government spending. Lait also notes that the level of U.S. national debt is not the issue, but rather the growth in interest payments, which he finds staggering.
#FederalReserve #InterestRates #UsNationalDebt
https://www.cnbc.com/2024/05/01/fund-manager-says-there-is-no-economic-rationale-for-fed-rate-cuts.html
GDP increased at a 1.6% rate in the first quarter, less than expected
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The U.S. economy grew at a slower pace than expected in the first quarter of 2024, with gross domestic product (GDP) increasing at a 1.6% annualized rate, lower than the anticipated 2.4%. Consumer spending rose by 2.5%, down from a 3.3% gain in the previous quarter. The personal consumption expenditures price index, a key inflation measure, increased by 3.4% for the quarter, its largest gain in a year. The price index for GDP rose at a 3.1% rate. The news led to a slump in markets, with Dow Jones futures falling over 400 points. Treasury yields also rose. Investors are now expecting the Federal Reserve to cut interest rates, with futures pricing indicating one rate cut in 2024.
#Gdp #EconomicGrowth #Inflation #FederalReserve #InterestRates
https://www.cnbc.com/2024/04/25/gdp-q1-2024-increased-at-a-1point6percent-rate.html
Why the Fed keeping rates higher for longer may not be such a bad thing
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Higher interest rates are not having a substantially negative impact on the economy. The Fed is not expected to cut rates in the near future. The higher-for-longer stance is due to stickier inflation. The impact of higher rates on profit margins and consumer behavior will be revealed during the current earnings season. Financial markets have largely held up despite the higher-rate landscape. Higher rates can be a good sign if associated with growth. The Fed's active monetary policy may not have as much influence on the economy as it thinks. Rates too high or too low can distort financial markets and undermine the economy. The national debt has exploded since Covid hit, making the Fed's higher rates less noticeable. Credit card delinquency rates have climbed to the highest level in 12 years. The Fed may have to lower rates in the future due to the crushing effect of high rates on low-income-earning Americans.
#FederalReserve #InterestRates #Economy
https://www.cnbc.com/2024/04/24/why-the-fed-keeping-rates-higher-for-longer-may-not-be-such-a-bad-thing.html
Why the Fed keeping rates higher for longer may not be such a bad thing
==========
Higher interest rates are not having a substantially negative impact on the economy. The Fed is not expected to cut rates in the near future. The higher-for-longer stance is due to stickier inflation. The impact of higher rates on profit margins and consumer behavior will be revealed during the current earnings season. Financial markets have largely held up despite the higher-rate landscape. Higher rates can be a good sign if associated with growth. The Fed's active monetary policy may not have as much influence on the economy as it thinks. Rates too high or too low can distort financial markets and undermine the economy. The national debt has exploded since Covid hit, making the Fed's higher rates less noticeable. Credit card delinquency rates have climbed to the highest level in 12 years. The Fed may have to lower rates in the future due to the crushing effect of high rates on low-income-earning Americans.
#FederalReserve #InterestRates #Economy
https://www.cnbc.com/2024/04/24/why-the-fed-keeping-rates-higher-for-longer-may-not-be-such-a-bad-thing.html
Asia markets climb as Wall Street continues rally; Australia inflation numbers expected
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Asia-Pacific markets extend gains as Wall Street continues rally; Australia's consumer price index expected to rise 3.5% for Q1; S&P/ASX 200 rose 0.21% ahead of CPI reading; Nikkei 225 popped 1.27% and Topix was up 0.71%; South Korea's climbed 1.85% with Samsung Electronics gaining 3%; Hang Seng index futures point to a stronger open; Dow Jones climbed 0.69%, S&P 500 gained 1.2%, and Nasdaq Composite saw largest gain of 1.59%; Goldman Sachs' Kostin expects higher earnings this year despite margin pressures; JPMorgan Chase CEO Dimon warns of 'stagflation'; US crude oil falls to lowest level since March; SoftBank to invest nearly $1 billion in AI push with Nvidia's chips.
#AsiapacificMarkets #WallStreet #AustraliaInflation #Earnings #MarginPressures #Stagflation #UsCrudeOil #Softbank #Nvidia
https://www.cnbc.com/2024/04/24/asia-markets.html
Asia markets extend gains ahead of business activity figures from around the region
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Asia-Pacific markets extended gains from Monday as tech shares rebounded on Wall Street. Australia's composite purchasing managers index hit a two-year high at 53.6. Japan and India's PMI numbers will be released later Tuesday. S&P/ASX 200 started the day up 0.32% after the PMI release. Nikkei 225 popped 0.8% at the open, while the broad-based Topix was up 0.66%. South Korea's KOSPI climbed 0.2%, and the small-cap Kosdaq rose 0.62%. Futures for Hong Kong's Hang Seng index stood at 16,681, pointing to a weaker open compared to the HSI's close of 16,511.69. The S&P 500 and Nasdaq Composite both snapped six-day losing streaks, gaining 0.87% and 1.11% respectively, while the Dow Jones Industrial Average climbed 0.67%. U.S. crude prices slipped after Iran said it will not escalate the conflict with Israel. Australia's business activity in April expanded at its fastest clip in 24 months, according to flash figures from S&P Global. The country's composite purchasing managers index came in at 53.6, compared to 53.3 in March. Manufacturing PMI climbed to 49.9 from 47.3, just shy of the 50 mark that separates expansion from contraction, while services PMI slipped slightly to 54.2 from 54.4.
#AsiapacificMarkets #BusinessActivity #TechShares #WallStreet #PurchasingManagersIndex #Pmi #S&pGlobal #Australia #Japan #India #S&p500 #NasdaqComposite #DowJonesIndustrialAverage #CrudePrices #Iran #Israel
https://www.cnbc.com/2024/04/23/asia-markets-live-updates-australia-japan-and-india-pmi-data.html
Asia markets extend gains ahead of business activity figures from around the region
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Asia-Pacific markets extended gains from Monday as tech shares rebounded on Wall Street. Australia's composite purchasing managers index hit a two-year high at 53.6. Japan and India's PMI numbers will be released later Tuesday. S&P/ASX 200 started the day up 0.32% after the PMI release. Nikkei 225 popped 0.8% at the open, while the broad-based Topix was up 0.66%. South Korea's KOSPI climbed 0.2%, and the small-cap Kosdaq rose 0.62%. Futures for Hong Kong's Hang Seng index stood at 16,681, pointing to a weaker open compared to the HSI's close of 16,511.69. The S&P 500 and Nasdaq Composite both snapped six-day losing streaks, gaining 0.87% and 1.11% respectively, while the Dow Jones Industrial Average climbed 0.67%. U.S. crude prices slipped after Iran said it will not escalate the conflict with Israel. Australia's business activity in April expanded at its fastest clip in 24 months, according to flash figures from S&P Global. The country's composite purchasing managers index came in at 53.6, compared to 53.3 in March. Manufacturing PMI climbed to 49.9 from 47.3, just shy of the 50 mark that separates expansion from contraction, while services PMI slipped slightly to 54.2 from 54.4.
#AsiapacificMarkets #BusinessActivity #TechShares #WallStreet #PurchasingManagersIndex #Pmi #S&pGlobal #Australia #Japan #India #S&p500 #NasdaqComposite #DowJonesIndustrialAverage #CrudePrices #Iran #Israel
https://www.cnbc.com/2024/04/23/asia-markets-live-updates-australia-japan-and-india-pmi-data.html
Asia markets extend gains ahead of business activity figures from around the region
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Asia-Pacific markets extended gains from Monday as tech shares rebounded on Wall Street. Australia's composite purchasing managers index hit a two-year high at 53.6. Japan and India's PMI numbers will be released later Tuesday. S&P/ASX 200 started the day up 0.32% after the PMI release. Nikkei 225 popped 0.8% at the open, while the broad-based Topix was up 0.66%. South Korea's KOSPI climbed 0.2%, and the small-cap Kosdaq rose 0.62%. Futures for Hong Kong's Hang Seng index stood at 16,681, pointing to a weaker open compared to the HSI's close of 16,511.69. The S&P 500 and Nasdaq Composite both snapped six-day losing streaks, gaining 0.87% and 1.11% respectively, while the Dow Jones Industrial Average climbed 0.67%. U.S. crude prices slipped after Iran said it will not escalate the conflict with Israel. Australia's business activity in April expanded at its fastest clip in 24 months, according to flash figures from S&P Global. The country's composite purchasing managers index came in at 53.6, compared to 53.3 in March. Manufacturing PMI climbed to 49.9 from 47.3, just shy of the 50 mark that separates expansion from contraction, while services PMI slipped slightly to 54.2 from 54.4.
#AsiapacificMarkets #BusinessActivity #TechShares #WallStreet #PurchasingManagersIndex #Pmi #S&pGlobal #Australia #Japan #India #S&p500 #NasdaqComposite #DowJonesIndustrialAverage #CrudePrices #Iran #Israel
https://www.cnbc.com/2024/04/23/asia-markets-live-updates-australia-japan-and-india-pmi-data.html
Asia markets extend gains ahead of business activity figures from around the region
==========
Asia-Pacific markets extended gains from Monday as tech shares rebounded on Wall Street. Australia's composite purchasing managers index hit a two-year high at 53.6. Japan and India's PMI numbers will be released later Tuesday. S&P/ASX 200 started the day up 0.32% after the PMI release. Nikkei 225 popped 0.8% at the open, while the broad-based Topix was up 0.66%. South Korea's KOSPI climbed 0.2%, and the small-cap Kosdaq rose 0.62%. Futures for Hong Kong's Hang Seng index stood at 16,681, pointing to a weaker open compared to the HSI's close of 16,511.69. The S&P 500 and Nasdaq Composite both snapped six-day losing streaks, gaining 0.87% and 1.11% respectively, while the Dow Jones Industrial Average climbed 0.67%. U.S. crude prices slipped after Iran said it will not escalate the conflict with Israel. Australia's business activity in April expanded at its fastest clip in 24 months, according to flash figures from S&P Global. The country's composite purchasing managers index came in at 53.6, compared to 53.3 in March. Manufacturing PMI climbed to 49.9 from 47.3, just shy of the 50 mark that separates expansion from contraction, while services PMI slipped slightly to 54.2 from 54.4.
#AsiapacificMarkets #BusinessActivity #TechShares #WallStreet #PurchasingManagersIndex #Pmi #S&pGlobal #Australia #Japan #India #S&p500 #NasdaqComposite #DowJonesIndustrialAverage #CrudePrices #Iran #Israel
https://www.cnbc.com/2024/04/23/asia-markets-live-updates-australia-japan-and-india-pmi-data.html
Russia warns the world is on the brink of a 'direct military clash' between nuclear powers
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Russia's Foreign Minister Sergey Lavrov warns of a potential 'direct military clash' between Russia and Western nuclear powers. The warning comes after the US House of Representatives passed a $61 billion foreign aid package for Ukraine, which Russia reacted angrily to. Russian forces have been making gains in the Donbas region, and Ukraine is in need of more air defense systems, artillery, and ammunition. Lavrov also criticizes the support of nuclear powers France, the US, and the UK for Ukraine, calling it a serious strategic risk for Russia. The Kremlin says any move by the US to seize frozen Russian assets would be illegal and set a dangerous precedent. The aid package for Ukraine has been passed by the House of Representatives and now proceeds to the Senate for approval. Ukrainian President Volodymyr Zelenskyy expresses gratitude for the aid package and urges the Senate to pass it quickly. The aid is crucial for Ukraine, whose forces have been rationing their usage of shells due to shortages of supplies. Russia claims to have taken control of the village of Novomykhailivka, the second advance it has announced in two days. The Russian gains highlight the urgency for Ukraine to receive the new US military aid. The Stockholm International Peace Research Institute reports that global military spending reached a record high of $2.44 trillion in 2023, with Ukraine and Russia topping the list for countries that increased their military spending the most. The head of Ukrainian military intelligence warns of a difficult period on the front in mid-May and early June when Russia is expected to launch a new and wider offensive. The article also mentions that the arena of arms control has become a frequent bone of contention between the West and Russia, with several arms treaties between the US and Russia abandoned or close to collapse.
#Russia #Ukraine #NuclearPowers #ForeignAid #MilitaryClash #DonbasRegion #AirDefenseSystems #Artillery #Ammunition #FrozenAssets #UsSenate #MilitarySpending #Offensive #ArmsControl
https://www.cnbc.com/2024/04/22/ukraine-war-live-updates-latest-news-on-russia-and-the-war-in-ukraine.html
Russia warns the world is on the brink of a 'direct military clash' between nuclear powers
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Russia's Foreign Minister Sergey Lavrov warns of a potential 'direct military clash' between Russia and Western nuclear powers. The warning comes after the US House of Representatives passed a $61 billion foreign aid package for Ukraine, which Russia reacted angrily to. Russian forces have been making gains in the Donbas region, and Ukraine is in need of more air defense systems, artillery, and ammunition. Lavrov also criticizes the support of nuclear powers France, the US, and the UK for Ukraine, calling it a serious strategic risk for Russia. The Kremlin says any move by the US to seize frozen Russian assets would be illegal and set a dangerous precedent. The aid package for Ukraine has been passed by the House of Representatives and now proceeds to the Senate for approval. Ukrainian President Volodymyr Zelenskyy expresses gratitude for the aid package and urges the Senate to pass it quickly. The aid is crucial for Ukraine, whose forces have been rationing their usage of shells due to shortages of supplies. Russia claims to have taken control of the village of Novomykhailivka, the second advance it has announced in two days. The Russian gains highlight the urgency for Ukraine to receive the new US military aid. The Stockholm International Peace Research Institute reports that global military spending reached a record high of $2.44 trillion in 2023, with Ukraine and Russia topping the list for countries that increased their military spending the most. The head of Ukrainian military intelligence warns of a difficult period on the front in mid-May and early June when Russia is expected to launch a new and wider offensive. The article also mentions that the arena of arms control has become a frequent bone of contention between the West and Russia, with several arms treaties between the US and Russia abandoned or close to collapse.
#Russia #Ukraine #NuclearPowers #ForeignAid #MilitaryClash #DonbasRegion #AirDefenseSystems #Artillery #Ammunition #FrozenAssets #UsSenate #MilitarySpending #Offensive #ArmsControl
https://www.cnbc.com/2024/04/22/ukraine-war-live-updates-latest-news-on-russia-and-the-war-in-ukraine.html
Treasury yields rise as investors look to key data in week ahead
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U.S. Treasury yields rose as investors looked to economic data in the week ahead that could provide fresh hints about the state of the economy and outlook for interest rates. At 3:19 a.m. ET, the yield on the [10-year Treasury note](https://www.cnbc.com/quotes/?symbol=US10Y) was up by over two basis points to 4.6414%. The [30-year Treasury bond](https://www.cnbc.com/quotes/?symbol=US30Y) yield was last at 4.9928% after rising by more than two basis points. Several key data points are slated for the week, including the personal consumption expenditures price index for March, which is due Friday. Markets are widely expecting interest rate cuts not to happen until later than expected, following recent economic data that reflected sticky inflation and resilience from the economy, as well as comments from Fed officials. Policymakers including Chairman Jerome Powell last week indicated that there was no urgency for rates to be cut and that the timeline for rate cuts would depend on how the economy develops. The Fed has now entered the so-called blackout period before its next meeting.
#TreasuryYields #EconomicData #InterestRates
https://www.cnbc.com/2024/04/22/us-treasury-yields-as-investors-look-to-key-data-in-week-ahead.html
This is the best U.S. city for remote workers—it has a population of 68,000
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Portland, Maine is ranked as the best U.S. city for remote workers according to Remote.com. The city has a population of 68,000 and offers a median household income of $71,000, with rent at about $1,400 a month. The homes in Portland are valued at about $412,000, and 58% of residents are college grads. The ranking considers factors such as quality of life, safety, internet infrastructure, travel, and current economic factors. Other top U.S. cities for remote work include Honolulu, Hawaii; Des Moines, Iowa; New York, New York; and Concord, New Hampshire. The top three cities globally for remote workers are Madrid, Spain; Madeira, Portugal; and Toronto, Canada. Portland's distinction as the top U.S. city for remote work is attributed to its robust infrastructure, welcoming community, and overall quality of life. The state of Maine offers economic incentives such as a student loan repayment program and has a growing immigrant population. Other top cities for remote work are described as walkable, green, and nicely designed for residents. Midwestern cities like Des Moines, Topeka, and Hamilton are praised for their remote-friendly incentive programs, quality of life, and affordable living costs.
#RemoteWork #Portland,Maine #UsCities #QualityOfLife #EconomicIncentives
https://www.cnbc.com/2024/04/21/the-best-us-cities-for-remote-workers-according-to-remotecom.html
‘Big change' in global growth is bullish for commodities including copper, says VanEck CEO
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VanEck CEO Jan van Eck suggests that investors should consider commodities due to a "big change" in global growth, with China being a key driver in the expansion. Van Eck highlights the positive momentum of copper as a sign of global economic growth and energy prices. He also sees U.S. government spending as a bullish catalyst for the commodities trade. VanEck's exchange-traded funds, including the VanEck Gold Miners ETF and VanEck Oil Refiners ETF, have seen gains of 10% and 9% respectively year to date. The S&P GSCI Index Spot, which tracks commodities, is up 10% so far this year.
#Commodities #Copper #GlobalGrowth #China #Vaneck
https://www.cnbc.com/2024/04/20/big-change-in-global-growth-is-bullish-for-commodities-vaneck-ceo.html
6 portfolio stock earnings and the Fed's favorite inflation gauge dominate the week ahead
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The S&P 500 and the Nasdaq extended their declines to six straight sessions, their worst losing streaks in more than 1½ years. The Nasdaq sank 2% on Friday as Netflix dropped nearly 11% post-earnings and Club stock Nvidia fell 10%. The Dow Jones Industrial Average closed modestly higher Friday, led by an over 6% increase in American Express following earnings. Fed chief Jerome Powell said he sees a 'lack of further progress' this year on inflation. Fresh economic data and six Club stock earnings will take center stage in the week ahead. The main event will be the release of March personal spending and income data, including the PCE price index and the core PCE price index. The consensus estimate is for a headline PCE increase of 2.6% year over year and a core PCE gain of 2.7%. Thursday brings the government's first read on U.S. economic growth in the first quarter, with GDP expected to have advanced at a 2.2% annualized rate. The state of the housing market is also in focus next week, with the March new home sales and pending home sales reports. Six Club names set to report next week include Danaher, Meta Platforms, Ford, Honeywell, Microsoft, and Alphabet. Other notable companies reporting include Verizon Communications, General Motors, Tesla, Visa, Boeing, AT&T, and Exxon Mobil.
#StockMarket #Earnings #Inflation #EconomicData #PcePriceIndex #CorePcePriceIndex #Gdp #HousingMarket
https://www.cnbc.com/2024/04/20/6-club-stock-earnings-and-pce-inflation-dominate-the-week-ahead.html
6 portfolio stock earnings and the Fed's favorite inflation gauge dominate the week ahead
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The S&P 500 and the Nasdaq extended their declines to six straight sessions, their worst losing streaks in more than 1½ years. The Nasdaq sank 2% on Friday as Netflix dropped nearly 11% post-earnings and Club stock Nvidia fell 10%. The Dow Jones Industrial Average closed modestly higher Friday, led by an over 6% increase in American Express following earnings. Fed chief Jerome Powell said he sees a 'lack of further progress' this year on inflation. Fresh economic data and six Club stock earnings will take center stage in the week ahead. The main event will be the release of March personal spending and income data, including the PCE price index and the core PCE price index. The consensus estimate is for a headline PCE increase of 2.6% year over year and a core PCE gain of 2.7%. Thursday brings the government's first read on U.S. economic growth in the first quarter, with GDP expected to have advanced at a 2.2% annualized rate. The state of the housing market is also in focus next week, with the March new home sales and pending home sales reports. Six Club names set to report next week include Danaher, Meta Platforms, Ford, Honeywell, Microsoft, and Alphabet. Other notable companies reporting include Verizon Communications, General Motors, Tesla, Visa, Boeing, AT&T, and Exxon Mobil.
#StockMarket #Earnings #Inflation #EconomicData #PcePriceIndex #CorePcePriceIndex #Gdp #HousingMarket
https://www.cnbc.com/2024/04/20/6-club-stock-earnings-and-pce-inflation-dominate-the-week-ahead.html
Cramer says two recent earnings reports may indicate a slowdown is brewing — but not enough for a Fed cut
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CNBC's Jim Cramer suggests that disappointing quarters from trucking company J.B. Hunt and real estate investment trust Prologis may be a sign of a weakening U.S. economy due to elevated interest rates. However, Cramer believes it is still too early for the Federal Reserve to start cutting rates. He acknowledges that companies in economically sensitive industries like trucking and warehousing did show less-than-ideal earnings results. Cramer maintains that the economy is too strong for rate cuts and advises investors not to expect the Fed to start easing rates. The Federal Reserve Chair, Jerome Powell, recently stated that inflation has not declined enough for the central bank to consider rate cuts in the near future. Prologis and J.B. Hunt did not immediately respond to requests for comment.
#JimCramer #JbHunt #Prologis #FederalReserve #Economy #InterestRates #TruckingIndustry #RealEstateInvestmentTrust
https://www.cnbc.com/2024/04/18/cramer-says-2-reports-could-mark-slowdown-but-not-enough-for-fed-cut.html
Biden admin, U.S. ports prep for cyberattacks as nationwide infrastructure is targeted
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The Biden administration and U.S. ports are preparing for cyberattacks as the nation's infrastructure is increasingly targeted. Google's cybersecurity firm Mandiant released a report linking Russian hackers to an attack on a water filtration plant in Texas. The largest ports in the U.S. are also at risk, and cybersecurity officers and port executives held a call to discuss security issues, including Chinese-made cranes that have received government scrutiny. The Port of Los Angeles stopped 750 million hacking attempts in 2023. Anne Neuberger, Deputy National Security Advisor for Cyber and Emerging Technology, urged ports to encrypt their data, patch vulnerabilities, and have a well-trained cyber team. The executive order signed by President Biden in February aims to strengthen the cybersecurity of U.S. ports. The security of Chinese-manufactured cranes is a key concern, as over 80% of all cranes in U.S. ports are made in China. Foreign hackers, including those from China and Iran, are increasingly targeting U.S. infrastructure. The American Association of Port Authorities has said there is no evidence to support claims about Chinese-manufactured crane cyber vulnerabilities. The Coast Guard is evaluating the cranes, and public comments on the executive order's rulemaking will end on April 22. It is important to identify critical safety and business systems at ports and have a continuous diagnosis of operations and networks. The Port of Los Angeles has a Cyber Security Operations Center and achieved ISO 27001 information security management certification in 2015. The port's activity is picking up, with a 19% improvement in container volumes in the first quarter of 2023.
#BidenAdministration #Cyberattacks #UsPorts #NationwideInfrastructure #Cybersecurity #RussianHackers #WaterFiltrationPlant #PortOfLosAngeles #ChinesemadeCranes #ExecutiveOrder #ChinesemanufacturedCranes #ForeignHackers #China #Iran #AmericanAssociationOfPortAuthorities #CoastGuard #Iso27001 #ContainerVolumes
https://www.cnbc.com/2024/04/17/biden-admin-ports-prep-for-cyberattacks-as-us-infrastructure-targeted.html
CEO shares her No. 1 simple tactic for getting people to listen to her—you may remember it from grade school
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Talia Fox, CEO of Washington, D.C.-based executive coaching firm KUSI Global, shares her simple tactic for getting people to listen to her. She uses a five-point outline, including an attention-grabbing introduction, three core talking points, and a compelling conclusion. This structure can be used for presentations or even when asking for a promotion. In addition to the outline, Fox emphasizes the importance of exuding confidence through posture, voice tone, and eye contact. To calm nerves before important conversations, activities like walking, meditating, and positive affirmations can be helpful. The article also mentions a new online course offered by CNBC on earning passive income.
#Communication #Presentation #Confidence #Promotion #PassiveIncome
https://www.cnbc.com/2024/04/16/how-to-get-people-to-listen-to-you-ceo-shares-best-simple-tactic.html
How to manage your money in your 40s, according to CFPs: As your investments grow, 'mistakes can get bigger' too
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Certified financial planners recommend four steps for managing money in your 40s. First, open a taxable brokerage account to have flexibility in investing for short-term goals. Second, evaluate your investments and ensure they are positioned correctly as mistakes can have bigger consequences as portfolios grow. Third, check your insurance coverage, including life insurance and personal umbrella liability insurance. Finally, resist lifestyle inflation and find a balance between wants and needs to save for the future.
#MoneyManagement #FinancialPlanning #Investing #Insurance #LifestyleInflation
https://www.cnbc.com/2024/04/16/how-to-manage-your-money-in-your-40s-according-to-cfps.html
Op-ed: Financial literacy is the civil rights issue of this generation
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Financial literacy is the civil rights issue for this generation, writes entrepreneur and Operation Hope founder John Hope Bryant. Financial literacy is arguably the least expensive and most effective tool for community economic development in existence today. Economic growth provides jobs, increases wages, and leads to a higher standard of living for its citizens. However, the engine for economic growth is not simply having more businesses or more products. It is the increased participation of people within the economy. Research shows that financial security increases with financial education. Financial literacy plays a pivotal role in transforming one's relationship with money, understanding investments, compound interest, savings, and navigating the complex world of credits and debits. Accessible funding for Black and brown entrepreneurs, financial wellbeing benefits in the workplace, and conversations about private sector work within communities are also crucial for achieving financial equality. By raising credit scores and providing financial education, communities can experience profound transformations in terms of life expectancy, education levels, homeownership rates, and crime rates. Financial literacy is a fundamental right that should be accessible to all individuals.
#FinancialLiteracy #CivilRights #EconomicGrowth #FinancialEducation #CreditScores #Entrepreneurs #WorkplaceBenefits #PrivateSector #Equality
https://www.cnbc.com/2024/04/16/why-financial-literacy-is-the-civil-rights-issue-of-this-generation.html
3 of our stocks report earnings next week. Here's what we want to see from each
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All three major averages posted losses in a volatile week. The Dow Jones Industrial Average led the way down, tanking more than 500 points on Friday alone, and ended the week with a 2.7% decline. The broad-based S & P 500 index dropped 1.6%, while the tech-heavy Nasdaq Composite dipped 0.5%. The decline was caused by a slightly hotter-than-expected March consumer price index (CPI) report, which pushed up Treasury bond yields and forced investors to reconsider the number of interest-rate cuts this year from the Federal Reserve. The CME FedWatch Tool indicates that the best odds are for two cuts this year. The upcoming week will be driven by earnings reports from three stocks: Morgan Stanley, Abbott Labs, and Procter & Gamble. For Morgan Stanley, investors will focus on the margins in wealth management and a regulatory probe into that division. Abbott Labs is expected to show strong organic growth, particularly in its nutrition, established pharmaceuticals, medical devices, and diagnostics divisions. Procter & Gamble is expected to show growth in all key segments, with overall organic sales rising 3.5% over last year. Other notable macroeconomic reports to monitor include March retail sales, housing starts and building permits, and the March industrial production and capacity utilization report.
#StockMarket #Earnings #DowJones #S&p500 #Nasdaq #InterestRates #FederalReserve #MorganStanley #AbbottLabs #Procter&Gamble #RetailSales #HousingStarts #IndustrialProduction
https://www.cnbc.com/2024/04/13/3-of-our-stocks-report-earnings-heres-what-we-want-to-see-from-each.html
Treasury yields fall as investors weigh state of economy
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U.S. Treasury yields declined as investors considered the state of the economy after the release of inflation data and weighed the path ahead for interest rates. The yield on the [specific Treasury bond] was down by over three basis points to 4.5399%. The [specific Treasury bond] yield was last at 4.9200% after falling by more than four basis points. The March producer price index came in below expectations, easing concerns about persistent inflationary pressures. The possibility of no rate cuts at all this year is being considered by some investors. The Federal Reserve has said that its decision-making on rate cuts will be data-led and is waiting for inflation to move lower before easing monetary policy. Import and export prices, as well as fresh consumer sentiment insights for April, will be released on Friday.
#TreasuryYields #Economy #InflationData #InterestRates #FederalReserve
https://www.cnbc.com/2024/04/12/us-treasury-yields-as-investors-weigh-state-of-economy.html
Inflation has investors on edge. But some sectors have deflated
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Some segments of the U.S. economy have deflated over the past year, according to the consumer price index. The cost of household goods, travel, and some grocery items like apples have fallen. However, CPI data for March came in hotter than expected, suggesting that the fight to rein in consumer prices may take longer than expected. Categories of goods and services that have deflated include physical goods like cars, furniture, and appliances, as well as some food and energy-related products. The downward pressure of deflation has tamed in recent months as supply-and-demand dynamics have normalized. The demand for home goods has diminished, leading to falling prices for household furnishings, laundry equipment, furniture, bedding, dishes, flatware, toys, outdoor equipment, and sporting goods. The U.S. dollar's strength relative to other global currencies has helped rein in prices for goods. Prices for new and used vehicles have also deflated slightly over the past year, as have travel costs for airfare, hotels, and rental cars. Grocery prices have come to a standstill, with some food categories like ham, cheese, and coffee declining. However, deflationary dynamics may only happen on paper, as quality improvements over time in electronics show up as price declines in the CPI data.
#Inflation #Deflation #ConsumerPrices #UsEconomy
https://www.cnbc.com/2024/04/11/inflation-has-investors-on-edge-but-some-sectors-have-deflated.html
Trump slams Biden for ‘raging' inflation after hotter-than-expected March price report
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Former President Donald Trump criticized President Biden for persistent inflation after March's consumer price index (CPI) came in higher than expected. Consumer prices rose 0.4% in March, slightly above economists' expectations of 0.3%, pushing the year-over-year increase to 3.5%. Trump accused the Federal Reserve of protecting Biden and stated that inflation is back and raging. Biden responded by calling on corporations to use record profits to reduce prices and blamed big corporations and Republicans for the high costs of living. The economy is a key issue for voters as both Biden and Trump claim that Americans were financially better off under their respective administrations. The CPI report could signal inflation trending back up and may impact the Federal Reserve's decision on interest rates. Biden's economic gains are being overshadowed by sticky inflation and a large budget deficit. The U.S. economy is currently doing well by metrics like GDP and unemployment, but inflation and the budget deficit remain challenges for the White House. Consumer confidence is showing signs of optimism, but polling indicates that Americans have a positive view of the economy under Trump.
#DonaldTrump #JoeBiden #Inflation #ConsumerPriceIndex #FederalReserve #Corporations #Republicans #Economy #Gdp #Unemployment
https://www.cnbc.com/2024/04/10/trump-slams-biden-for-inflation-after-hotter-than-expected-cpi-report.html
China needs a narrative that house prices are going to rise, Nomura's Koo says
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China needs to convince people that home prices are on their way up in order for economic activity to pick up, according to Richard Koo, chief economist at Nomura Research Institute. Koo stated that for people to come back and borrow money, there needs to be a narrative that says the bottom of the prices has been reached and prices will start going up. However, it is not clear whether prices have reached an actual bottom yet. Koo also mentioned that Chinese officials have said that real estate remains in a period of 'adjustment' and that the country has been emphasizing other sectors such as manufacturing and new energy vehicles. China's economy officially grew by 5.2% in 2023, and Beijing has set a target of around 5% growth for 2024. Chinese authorities have been reluctant to embark on large-scale support for the economy due to the view that its prior stimulus program was a failure. Koo believes that China should stimulate its economy to avoid a balance sheet recession and cut that support once growth reaches 12%.
#China #HousingMarket #EconomicGrowth #StimulusProgram #BalanceSheetRecession
https://www.cnbc.com/2024/04/10/nomuras-koo-china-needs-a-narrative-that-house-prices-are-going-to-rise.html
Asia markets poised for mixed open ahead of Japan corporate inflation data and New Zealand rate decision
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Asia-Pacific markets are set for a mixed open ahead of Japan's corporate inflation figures for March and rate decisions from New Zealand and Thailand's central banks. Japan's corporate inflation rate is expected to accelerate to 0.8%. South Korea's markets are closed Wednesday for parliamentary elections. In Australia, futures for the S&P/ASX 200 point to a third straight day of gains. However, Japan's Nikkei 225 is set to fall. Futures for Hong Kong's Hang Seng index point to a stronger open. Overnight in the U.S., the Dow Jones Industrial Average closed just below the flatline, while the S&P 500 and Nasdaq Composite posted gains. Twelve S&P 500 stocks hit fresh highs on Tuesday, including Alphabet and Freeport-McMoRan. Boeing and Norfolk Southern were among the biggest movers during midday trading. The article also includes information on dividend stocks and overbought global stocks.
#AsiapacificMarkets #Japan #CorporateInflation #NewZealand #RateDecision #SouthKorea #Australia #S&p/asx200 #Nikkei225 #HongKong #HangSengIndex #DowJonesIndustrialAverage #S&p500 #NasdaqComposite #S&p500Stocks #Alphabet #Freeportmcmoran #Boeing #NorfolkSouthern #DividendStocks #OverboughtGlobalStocks
https://www.cnbc.com/2024/04/10/asia-markets-live-updates.html
The 'Buffett indicator' is a red flag for markets, but 'this is not a bubble,' says investing pro
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The 'Buffett indicator' compares the total market capitalization of all U.S. stocks with the quarterly output of the U.S. economy. If stocks are at about 70% of GDP, they're undervalued, but if they're about double the size of the economy, it's considered a major red flag. Currently, the ratio is at about 190%, the highest mark in two years. However, Liz Young, head of investment strategy at SoFi, believes that this is not a bubble and that the market is in extended valuations but not outrageous. The current stock market rally has been driven by earnings growth, particularly from large, high-quality tech companies. GDP growth remains strong, the consumer continues to spend, and earnings growth has been healthy. However, there are some cracks in the economic façade, such as the longest-ever inversion of the yield curve and a marked uptick in gold prices, which indicate that some investors are losing confidence in the economy. The stock market outlook for the remainder of the year is more bullish, but investors should expect some pullbacks. Diversified stock portfolios will continue to benefit from corporate earnings growth and U.S. economic output. It is recommended to focus on highly profitable companies with little debt.
#BuffettIndicator #StockMarket #Bubble #Valuation #EarningsGrowth #Gdp #EconomicIndicators
https://www.cnbc.com/2024/04/09/what-warren-buffetts-favorite-indicator-means-for-your-money.html
India's market cap can ‘easily' jump ten-fold in the next two decades, economist says
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India's market capitalization can easily grow to $40 trillion in the next 20 years, driven by stronger investor confidence and robust economic growth, according to analysts. The country's market is currently ranked the fourth largest in the world, valued at over $4.6 trillion. Sujan Hajra, chief economist at Anand Rathi Share and Stock Brokers, believes India can hit $40 trillion by that time, citing strong economic growth and a stable currency. Manish Chokhani, director of investment services firm Enam Holdings, is even more bullish and predicts Indian markets could surge to $60 trillion in the next two decades. India's benchmark Nifty 50 index soared 20% in 2023. India's GDP grew 7.2% for financial year 2023 and is estimated to grow 7.6% in financial year 2024. China's economic growth has not led to stock market appreciation in recent years. India has the largest number of listed companies globally at over 6,000. Despite high valuation multiples, analysts recommend India as part of an investor's core allocation, with a focus on large cap stocks and the financial services sector.
#India #MarketCap #Economy #InvestorConfidence #EconomicGrowth #StockMarket
https://www.cnbc.com/2024/04/09/indias-market-cap-can-easily-jump-ten-fold-in-the-next-two-decades-economist-says.html
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