Following cooler-than-expected producer price data Tuesday morning, the market’s 50/50 odds between a quarter-point Federal Reserve interest rate cut in September and a half-point cut tilted further toward the bigger move. That sparked a big rally in stocks, with the Nasdaq leading the way higher and jumping more than 2% in afternoon trading. Here are … Read more
A security guard stands in the main entrance to the Reserve Bank of New Zealand located in central Wellington, New Zealand, July 3, 2017. David Gray | Reuters The Reserve Bank of New Zealand lowered its cash rate by 25 basis points to 5.25% on Wednesday. The move surprised economists polled by Reuters, which were … Read more
Analysts are expecting Nintendo to release a successor to its hit Switch console in its fiscal year 2025. Guillaume Payen | Sopa Images | Lightrocket | Getty Images The global video game market is set for sluggish annual growth this year amid weak sales of gaming consoles, according to a new report from market research … Read more
The upscale shopping district of Ginza in Tokyo, Japan, on Saturday, May 4, 2024. Bloomberg | Bloomberg | Getty Images Asia-Pacific markets are set to continue gaining on Wednesday after producer prices in the U.S. came in lower than expected for July. The producer price index — a measure of wholesale inflation — increased 0.1% last month. … Read more
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Market comeback: Stocks are having a strong day, boosted by the encouraging wholesale inflation data released earlier Tuesday. At roughly 5,420 on the S & P … Read more
A key measure of wholesale inflation rose less than expected in July, opening the door further for the Federal Reserve to start lowering interest rates. The producer price index, which measures selling prices that producers get for goods and services, increased 0.1% on the month, the Labor Department’s Bureau of Labor Statistics reported Tuesday. Excluding … Read more
U.S. crude oil prices traded close to a three-week high Tuesday, after rallying on Monday in anticipation of an attack by Iran against Israel that could play havoc with Mideast production and transportation. “The oil market’s concern is that a broader conflict between Israel and Iran could cause oil supply disruptions in and around the … Read more
Shares of German meal kit firm HelloFresh jumped on Tuesday after the company reported a better-than-expected profit in the second quarter and said its ready-to-eat meals segment saw rapid growth. HelloFresh shares climbed as much as 20% during morning trade, but had pared gains to rise 11% to 5.90 euros ($6.44) as of 6:19 a.m. … Read more
Corrections in the yen and the unwinding of the carry trade are positive developments for Japan, said Jesper Koll, a veteran investor who remains bullish on the Japanese market. “It forces investors to focus on the real Japan strategy … not just a quick carry trade, borrowing at close to zero interest rates in Japan … Read more
Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., June 14, 2024. REUTERS/Brendan McDermid Brendan Mcdermid | Reuters Stocks @ Night is a daily newsletter delivered after hours, giving you a first look at tomorrow and last look at today. Sign up for free to receive it directly in … Read more
