All eyes are on the February CPI this week
Wall Street forecasters expect the core CPI index rose 0.3%, lowering the 12-month rate to 3.7% from 3.9% in January
They see the headline index up 0.4% in February due to higher energy prices, leaving the 12-month rate at 3.1%
$SPDR S&P 500 ETF(SPY.US$ $Invesco QQQ Trust(QQQ.US$
Wall Street forecasters expect the core CPI index rose 0.3%, lowering the 12-month rate to 3.7% from 3.9% in January
They see the headline index up 0.4% in February due to higher energy prices, leaving the 12-month rate at 3.1%
$SPDR S&P 500 ETF(SPY.US$ $Invesco QQQ Trust(QQQ.US$
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In 2023, the market cap of the largest U.S. stock relative to the 75th percentile stock reached nearly the HIGHEST level ever observed since 1925. 👀
$SPDR S&P 500 ETF(SPY.US$ $Invesco QQQ Trust(QQQ.US$
$SPDR S&P 500 ETF(SPY.US$ $Invesco QQQ Trust(QQQ.US$
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Bitcoin and gold are emerging as potential winners in the wake of a divisive U.S. presidential election. Both assets are seen as political statements, benefiting from disruptions in the established order. Gold, a traditional safe-haven asset, is viewed as immune to inflation and currency debasement by central banks. On the other hand, Bitcoin, often referred to as digital gold, operates outside the traditional financial system, with its value determined by market f...
Earnings Season Begins: S&P 500 Companies in Spotlight
The upcoming week is packed with significant events, including the PBOC's expected MLF rate cut on Monday, followed by key data releases from China, the UK, and the US.
Traders are closely watching for multiple interest rate cuts by the Bank of England, with wage and inflation figures due on Tuesday and Wednesday, respectively.
Fed Rate Cut Looms: Bond Traders Bet Big
Bond traders are increasingly betting on a Fed rate cut in Marc...
The upcoming week is packed with significant events, including the PBOC's expected MLF rate cut on Monday, followed by key data releases from China, the UK, and the US.
Traders are closely watching for multiple interest rate cuts by the Bank of England, with wage and inflation figures due on Tuesday and Wednesday, respectively.
Fed Rate Cut Looms: Bond Traders Bet Big
Bond traders are increasingly betting on a Fed rate cut in Marc...
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Bank of America shares fell Friday after the firm reported declining fourth-quarter earnings amid hefty one-time charges.
The bank said it was hit by a pretax charge of $1.6 billion in the quarter related to the transition away from the London Interbank Offered Rate.
Bank of America stock is down 2.6% this year after a mere 1.7% gain in 2023. $Bank of America(BAC.US$
The bank said it was hit by a pretax charge of $1.6 billion in the quarter related to the transition away from the London Interbank Offered Rate.
Bank of America stock is down 2.6% this year after a mere 1.7% gain in 2023. $Bank of America(BAC.US$
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At this pace the national debt could possibly reach $40T by the end of 2024 if the U.S. keeps up with its unsustainable fiscal policy.
$Dow Jones Industrial Average(.DJI.US$ $Nasdaq Composite Index(.IXIC.US$ $S&P 500 Index(.SPX.US$
$Dow Jones Industrial Average(.DJI.US$ $Nasdaq Composite Index(.IXIC.US$ $S&P 500 Index(.SPX.US$
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Latest data from the Mortgage Bankers Association for the week ending 5 January 2024
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Prior -10.7%
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Market index 190.6 vs 173.5 prior
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Purchase index 148.6 vs 140.7 prior
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Refinance index 425.4 vs 358.2 prior
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30-year mortgage rate 6.81% vs 6.76% prior
After the subdued activity during Christmas week, mortgage applications rebounded to start the new week. Both purchases and refinancing activity jumped even as rates did move up in t...
After the subdued activity during Christmas week, mortgage applications rebounded to start the new week. Both purchases and refinancing activity jumped even as rates did move up in t...
Dallas Fed President Lorie Logan notes some concern about markets getting ahead of the Fed on rate cut expectations:
“We can’t count on sustaining price stability if we don’t maintain sufficiently restrictive financial conditions.”
$S&P 500 Index(.SPX.US$ $Nasdaq Composite Index(.IXIC.US$ $Dow Jones Industrial Average(.DJI.US$
“We can’t count on sustaining price stability if we don’t maintain sufficiently restrictive financial conditions.”
$S&P 500 Index(.SPX.US$ $Nasdaq Composite Index(.IXIC.US$ $Dow Jones Industrial Average(.DJI.US$
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-Jan 31, 2024: Pause
-Mar 20, 2024: 25 bps cut to 5.00-5.25%
-May 1, 2024: 25 bps cut to 4.75-5.00%
-June 12, 2024: 25 bps cut to 4.50-4.75%
-July 31, 2024: 25 bps cut to 4.25-4.50%
-Additional cuts to 3.14% by Dec 2025 $S&P 500 Index(.SPX.US$ $Dow Jones Industrial Average(.DJI.US$ $Nasdaq Composite Index(.IXIC.US$
-Mar 20, 2024: 25 bps cut to 5.00-5.25%
-May 1, 2024: 25 bps cut to 4.75-5.00%
-June 12, 2024: 25 bps cut to 4.50-4.75%
-July 31, 2024: 25 bps cut to 4.25-4.50%
-Additional cuts to 3.14% by Dec 2025 $S&P 500 Index(.SPX.US$ $Dow Jones Industrial Average(.DJI.US$ $Nasdaq Composite Index(.IXIC.US$
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Manufacturing activity in the Virginia area retreated in December as shipments and new orders both pulled back, the Richmond Federal Reserve reported Wednesday.
The central bank district’s survey of business activity in the Virginia, Delaware and North Carolina region registered a reading of -11 for the month, down from -5 in November and worse than the -6 Dow Jones estimate. The diffusion survey measures the percentage of business rep...
The central bank district’s survey of business activity in the Virginia, Delaware and North Carolina region registered a reading of -11 for the month, down from -5 in November and worse than the -6 Dow Jones estimate. The diffusion survey measures the percentage of business rep...
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