A major Wall Street firm cited financial instability, not inflation, as the biggest economic risk for the next three months. in subsequent interviews Fed hikes rates by 25 basis pointsMichael Schumacher of Wells Fargo Securities said policymakers were underestimating how quickly tighter credit conditions could hurt the economy. The firm’s head of macro strategy told … Read more
There has been speculation that SVB’s collapse could expose problems lurking in industry-specific ETFs. John Davi, chief information officer at Astoria Portfolio Advisors, put financials at the top of his watch list. “You need to be mindful of your risk,” says Davi, who runs the firm AXS Astoria Inflation Sensitive ETFtold CNBC’s “Advantages of ETFsThis … Read more
Matthew Hatcher | AFP | Getty Images Consumers breathed a sigh of relief as retail egg prices eased in February, according to federal data released Tuesday. see prices soar At the grocery store the last few months. According to statistics, the average price of eggs in February fell by nearly 7% compared with January consumer … Read more
A customer shops at a grocery store in Brooklyn on February 14, 2023. Michael Nagle/Xinhua via Getty Images this annual inflation rate It continued its gradual cooling trend in February, but remained well above policymakers’ target. inflation is a measure of the rate at which prices rise is rising Or the U.S. economic downturn. Related … Read more
CNN — The White House on Tuesday highlighted new efforts to lower everyday costs for Americans, just before the release of the latest consumer price index report — a key indicator of inflation. The new measures aimed at lowering out-of-pocket costs come amid widespread concerns about the economy and the looming possibility of a recession. … Read more
Evercore ISI compares the bank stress to another pivotal moment on Wall Street: the savings and loan crisis and the year of the epic crash. “Think you’re going to see this financial stress in the system in 24 hours [Fed] Chairman Powell suggests he may go to 50 [basis points] 22, just to tell you … Read more
Shoppers and pedestrians walk past stores in the Myeongdong shopping district in Seoul, South Korea. Sung Joon Cho | Bloomberg via Getty Images South Korea’s consumer inflation hit its slowest pace in 10 months in February, supporting the central bank’s view that the current policy tightening cycle is over after leaving interest rates unchanged last … Read more
Inflation will move higher starting in 2023 as higher housing, natural gas and fuel prices take their toll on consumers, the Labor Department reported on Tuesday. The consumer price index, which measures a basket of general goods and services, rose 0.5% in January, or a 6.4% annual gain. Economists polled by Dow Jones had been … Read more
As Wall Street prepares for key inflation data, Wells Fargo Securities’ Michael Schumacher thinks one thing is clear: “The Fed is not your friend.” He warned that Federal Reserve Chairman Jerome Powell is likely to keep interest rates higher for longer, which could put investors on the wrong side of the trade. “You think about … Read more
“Fast money” traders’ views on Tesla are at odds with key events ahead. While Tesla shares rallied on CEO Elon Musk’s plans to unveil his “Master Plan 3” at an investor day on March 1, trader Julie Beer warned the rally could stall. “The business isn’t really healthy,” Kayne Anderson Rudnick portfolio manager told CNBC’s … Read more