Fed Chair Jerome Powell says smaller rate hikes could come in December

WASHINGTON — Federal Reserve Chairman Jerome Powell confirmed Wednesday that smaller rate hikes are likely ahead, even as he sees progress in the fight against inflation as largely inadequate. Echoing recent statements by other central bank officials and comments at the Fed’s November meeting, Powell said he sees the central bank in a position to … Read more

Dow loses 200 points as investors process mixed economic signals awaiting Powell’s speech

The Dow Jones Industrial Average fell Wednesday as Wall Street waded through new economic data and awaited an afternoon speech on the economy from Federal Reserve Chairman Jerome Powell. The 30-stock index lost 253 points, or 0.8%. The S&P 500 lost 0.4%, while the Nasdaq Composite was nearly flat. Investors were hit by conflicting economic … Read more

S&P 500 futures are flat as Wall Street awaits Powell’s speech on economics

S&P 500 futures were flat Wednesday as Wall Street awaits an afternoon speech on the economy from Federal Reserve Chairman Jerome Powell. S&P 500 futures were essentially little changed, with the benchmark looking for a three-day losing streak. Futures tied to the Dow Jones Industrial Average lost 18 points. Nasdaq 100 futures rose 0.1%. Traders … Read more

Inflation in the Eurozone falls to 10% in November, while energy prices slow

Markets are following the latest inflation data from the Eurozone ahead of a new ECB meeting. Julien De Rosa | dpa | Getty Images Eurozone inflation slowed slightly in November, according to preliminary data released Wednesday, with prices coming off record highs and falling short of analysts’ expectations. Consumer prices have been sky-high in the … Read more

ECB to announce QT program details at December meeting

Christine Lagarde, President of the European Central Bank speaks at an event. The central bank will meet in mid-December for more monetary policy decisions. Bloomberg | Bloomberg | Getty Images The European Central Bank could be about to answer a lingering question in the coming weeks that could have major implications for financial markets. At … Read more

European markets await euro zone inflation data

CNBC Pro: Goldman Sachs’ Currie says oil stocks are trading ‘well below’ their long-term trend Jeff Currie, Global Head of Commodities Research at Goldman Sachs, told CNBC that oil stocks have historically traded at a much higher premium than the price of crude compared to current price levels.. For example, the price difference between SPDR … Read more

S&P 500 futures are flat after Monday’s sell-off

House prices are rising less than expected An index that examined house prices in a basket of 20 cities showed a smaller year-over-year increase than analysts had expected. The 20-City composite of the S&P CoreLogic Case-Shiller US National Home Price NSA Index posted a year-over-year gain of 10.4% in September. That’s a cooler rise than … Read more

Treasury yields as investors assess the impact of China’s Covid policies

U.S. Treasury yields fell on Tuesday as investors closely watched Covid developments in China and processed comments from Federal Reserve officials about monetary policy plans. The return on the benchmark 10 year treasury yields last fell about 4 basis points to 3.661% at 6:31 a.m. ET. The 2 years treasury the yield last traded around … Read more

Equity futures rise after major averages fall on China’s Covid turmoil

Traders work on the floor of the New York Stock Exchange (NYSE), September 6, 2022. Brendan McDermid | Reuters US stock futures were higher Tuesday morning after major averages came under pressure from Covid protests in China, and as investors expected more economic data and commentary from Federal Reserve leaders this week. Dow Jones Industrial … Read more

Government restricts gas wholesale prices as part of market intervention to lower energy prices

Anthony Albanese and his cabinet will adopt a multi-pronged strategy to curb skyrocketing energy prices as pressure mounts on the government to intervene urgently in the market. Most important points: The Minister of Resources says that an analysis is being carried out at which price the wholesale price for gas should be limited The government … Read more