Stocks Rise on Dovish Rate Bets; Bond Rally Pauses: Markets Wrap – Yahoo Finance
(Bloomberg) — Stocks rose on bets that a weakening economy will give the Federal Reserve room to cut interest rates this year, while Treasury bonds pared a rally that had sparked the biggest two-day drop in yields this year. Most read articles on Bloomberg S&P 500 contracts rose after the underlying index closed just 0.6% […]
Fed’s Wait-and-See on Rate Cuts Further Supported by Extra-Hot “Core Services” PCE Inflation & Hot “Core” PCE Inflation
Housing inflation refuses to cool for the eighth month, and five of the remaining seven core services accelerated further. This is not good. The core PCE price index, which excludes the volatile components of food and energy and is the inflation index the Fed is focused on, jumped by 3.9% annualized in March from February, […]
Snap up gold ETF ahead of potential interest rate cuts as deficits persist, market pro says – CNBC
According to Larry Tentarelli, chief technical strategist and founder of Blue Chip Daily Trend Report, gold is a smart investment idea as government budget deficits grow, and interest rate cuts are likely to be an additional tailwind. Gold has risen as a safe haven, in part due to the widening of the U.S. government’s budget […]
Asian Stocks Eye Early Gains as Rate Cut Bets Firm: Markets Wrap – Yahoo Finance
(Bloomberg) — Asian stocks rose on Monday as a weak reading of the Federal Reserve’s preferred inflation gauge spurred hopes of an interest rate cut. Most read articles on Bloomberg Australian, Japanese and Hong Kong shares rose, while Indian stock futures surged after exit polls showed a landslide victory for Prime Minister Narendra Modi’s party. […]
Dow soars nearly 600 points after inflation gauge closely watched by Fed reignites hope for fall rate cut
The Dow Jones Industrial Average surged nearly 600 points on Friday as investors breathed a sigh of relief after the Federal Reserve’s recommended inflation gauge met Wall Street expectations, rekindling optimism for interest rate cuts. The Commerce Department’s Bureau of Economic Analysis said Friday that the personal consumption expenditures (PCE) price index rose 0.3% last […]
Mortgage rates tick up as Fed signals delay on interest rate cuts: Freddie Mac
Home buyers saw borrowing costs rise again last week. (iStock) After weeks of declines, mortgage rates reversed course this week, rising back above 7%, according to Freddie Mac. According to Freddie Mac’s latest report, the average 30-year fixed-rate mortgage for the week ending May 30 was 7.03%. Primary mortgage market researchThat’s up from an average […]
GDP Revised Down To A Slower 1.3% Growth Rate
The U.S. economy grew at a slower rate than previously thought in the first three months of the year, expanding at just a 1.3% annual rate, according to revised government data. The downward revision was mainly due to data showing that consumer spending growth was much slower than previously estimated. That was the slowest growth […]
Gold prices steady amid rate jitters, copper flat with China in focus By Investing.com – Investing.com
Investing.com — Gold prices were stable in Asian markets on Wednesday as attention remained on upcoming signals regarding U.S. inflation and interest rates, but a somewhat hawkish outlook for interest rates led traders to remain cautious on the metals market. Among industrial metals, copper prices also remained range-bound as optimism over China’s stimulus measures faded […]
Gov’t ‘Contributed to’ Inflation, Inflation ‘Sideways’, Need ‘Many More Months’ for Rate Cuts
In an interview with CNBC Europe on Tuesday, Minneapolis Federal Reserve Bank President Neel Kashkari said inflation is currently trending sideways, that one or two rate cuts would require “several more months of positive inflation data,” and that government spending is “contributing to high inflation.” Kashkari began by agreeing with Federal Reserve Chairman Jerome Powell […]
White House works to correct Biden’s remarks at ‘ridiculous’ rate
While President Joe Biden is known for his blunders and colorful turns of phrase, his staffers increasingly are correcting his words after the fact via strikethroughs in the White House transcript. The written record of a May 19 campaign speech in Detroit includes no less than nine corrections, a few of which created mini-news cycles […]