Stubborn inflation forces more Americans to live paycheck to paycheck

Inflation is a persistent problem The consumer price index, which measures the average change in prices for consumer goods and services, rose a higher-than-expected 8.3% in August, driven by increases in food, shelter and medical care costs. Although real average hourly earnings also rose a seasonally adjusted 0.2% for the month, they remained down 2.8% from … Read more

Erdogan says Turkey will keep cutting interest rates, mocks British pound

Turkish President Tayyip Erdogan addresses members of his ruling AK Party (AKP) during a meeting at the parliament in Ankara, Turkey May 18, 2022. Murat Cetinmuhurdar/Presidential Press Office/Handout via REUTERS THIS IMAGE HAS BEEN SUPPLIED BY A THIRD PARTY. NO RESALES. NO ARCHIVES. MANDATORY CREDIT Murat Cetinmuhurdar | Reuters Turkey will keep cutting interest rates, … Read more

Dow drops more than 400 points after a big rally the day before

Stocks slumped Thursday, giving back some of the sharp gains seen in the previous session, as bond yields resumed their upward march. The Dow Jones Industrial Average dropped 457 points, or 1.54%. The S&P 500 and Nasdaq Composite declined 1.93% and 2.56%, respectively. A stronger-than-expected jobless claims report didn’t help sentiment, building on the notion … Read more

Jim Chanos says this is the biggest investing story no one is talking about

Beneath all the clamor over Russia’s invasion of Ukraine and the efforts to tamp down inflation, investors are largely passing over a huge story in China, famed short-seller Jim Chanos said Wednesday. Troubles in the Chinese real estate market are a distant third to the war and rate hikes targeted at containing inflation. But Chanos, … Read more

10-year Treasury yield tops 4%, soaring to 14-year high

The benchmark 10-year Treasury briefly topped 4% on Wednesday, reaching levels not seen since 2008, as markets took in Federal Reserve speaker commentary that hinted at further interest rate hikes. The yield on the 10-year Treasury was up 3 basis points to 3.9945% at around 4:20 a.m. ET. Earlier in the day, it rose as … Read more

Stock futures fall after S&P 500 hits new low for the year; 10-year Treasury yield briefly tops 4%

CNBC Pro: Credit Suisse says now’s the time to buy two green hydrogen stocks — and gives one over 200% upside Credit Suisse says it’s time to enter the green hydrogen sector, with a number of catalysts set to drive the clean energy powerhouse. “Green hydrogen is a growth market — we increase our 2030 … Read more

Goldman Sachs predicts stock market bottom for Europe; says how to position

Goldman Sachs has predicted further pain for a raft of European indices over the short term, with one expected to be firmly in a bear market by the end of the year. The Euro Stoxx 600 is expected to fall by nearly 8% by the end of this year, the investment bank said in a … Read more

Stocks fall, Chinese yuan crosses 7.2 against the dollar

U.S. 10-year Treasury yield breaches 4% for the first time since 2010 CNBC Pro: Credit Suisse says now’s the time to buy two green hydrogen stocks — and gives one over 200% upside Credit Suisse says it’s time to enter the green hydrogen sector, with a number of catalysts set to drive the clean energy … Read more

Profit expectations are still way too high. UBS on what to buy and what to avoid

Even after the stock market tumbled into a bear market this year, profit expectations for the S & P 500 remain way too high, which could lead to even more trouble down the road, according to UBS. The S & P 500 is squarely in a bear market, trading 24% below a record set in … Read more

Larry Summers blasts UK’s ‘utterly irresponsible’ fiscal policy

Larry Summers Cameron Costa | CNBC LONDON — Former U.S. Treasury Secretary Larry Summers on Tuesday warned that the U.K. has lost sovereign credibility after the new government’s fiscal policy sent markets into a tailspin. The British pound hit an all-time low against the dollar in the early hours of Monday morning, before recovering slightly on Tuesday, while the U.K. … Read more