We live in perilous times, right? Wars threaten, chaos abounds, doom lurks… Actually, no. We live in more or less normal times, even if the daily news makes it seem like apocalypse is always around the corner. In fact, there’s a remarkable amount of stability that keeps economies chugging along and living standards intact. Citi
Fed rate-cut odds continued to decline over the past week, amid continued strong economic data and a notable shift from Fed chief Jerome Powell. X Markets pushed back the first Fed rate cut yet again, this time from July to September. And that’s by no means a sure thing. For the full year, markets are
The Federal Reserve chairman this week doused any hope homebuyers had that mortgage rates would soften anytime soon. Instead, rates jumped above 7% after Jerome Powell said inflation was taking longer to come down to the Fed’s intended target, a sign that any rate cuts investors were betting on may not arrive soon this year
Many stock strategists began the year harping for a rebound in small cap performance as consensus believed the Federal Reserve would begin reducing interest rates in the first half of 2024. Now, with the market scaling back its hopes for interest rate cuts this year, the small cap Russell 2000 Index (^RUT) is down nearly
By Gertrude Chavez-Dreyfuss and Amanda Cooper NEW YORK/LONDON (Reuters) – The dollar drifted higher on Thursday as a mixed batch of U.S. data did little to shake views that the economy is still on solid ground, suggesting the Federal Reserve will likely delay the timing of its first rate cut since 2020 to later this
US stocks rose on Thursday as investors braced for Netflix (NFLX) to kick earnings season into high gear. The S&P 500 (^GSPC) gained 0.5%, while the Dow Jones Industrial Average (^DJI) rose about 0.7% after closing lower in the prior session. The Nasdaq Composite (^IXIC) increased 0.4% following tech’s recent slump. Stocks have struggled amid
New residential construction, including single-family and multifamily homes, tumbled by the largest amount in four years as rising mortgage rates weaken housing activity. Housing starts fell 14.7% month over month in March, dropping from a 1.55 million units annualized pace to 1.32 million units annualized, according to data from the Census Bureau released Tuesday. Single-family
The March retail sales report surprised to the upside, coming in at 0.7% from the month prior versus the anticipated 0.4% gain. Roth MKM’s Chief Economist and Macro Strategist Michael Darda joins the Morning Brief to discuss the implications of this report for the Federal Reserve’s rate cut plans, calling it a “body blow to
April has been a busy month for the Hualin International Jewelry Market in Guangzhou. A scrum of eager buyers has descended upon the venue, looking to join a new gold rush as prices soar and the precious metal takes on new life as a vehicle for investment. Standing out as one of the few bets
Harvard economist Larry Summers says the Fed may lift interest rates next. Jim Davis/The Boston Globe via Getty Images Summers sees possible rate hike Harvard economist and former Treasury Secretary Larry Summers sees a 15% to 25% chance that the Fed will raise rates this year. With the shift of interest-rate forecasts, it’s been the strong