54 minutes ago
American stocks opened with a decline
an hour ago
Central banks around the world are at the center
It’s a big week for central banks – both in the US and abroad.
The Federal Reserve begins its two-day policy meeting on Tuesday. Traders are pricing in a 99% chance that the Fed will skip a rate hike when it announces policy on Wednesday, according to CMEGroup’s FedWatch tool, which estimates pricing in fed funds futures. The Fed will also present an economic forecast on Wednesday.
Central banks of several other countries are also expected to announce policy decisions this week. Here is the list of countries that will issue a decision in the 36 hours following the Fed’s announcement at 2 p.m. ET on Wednesday, according to Bespoke Investment Group:
- brazil
- Indonesia
- Japan
- norway
- South Africa
- sweden
- Switzerland
- taiwan
- turkey
- United Kingdom
Sam Stovall, chief investment strategist at CFRA Research, said investors around the world are “waiting to find out what their central banks are likely to do.”
– Alex Haring
4 hours ago
Swiss Re: Macroeconomic tailwind ‘very good’ for life and health reinsurance companies
Paul Murray, CEO of Life and Health Reinsurance at Swiss Re, discusses how current macroeconomic conditions are affecting the sector and shares his vision for the life and health reinsurance industry.
5 hours ago
Stocks are making gains: Billerud up 7%, Tui up 5%
Billerud shares rose more than 7% after Jefferies upgraded the Swedish paper and packaging company from “hold” to “buy.”
Reuters reported that the investment bank said it sees “an opportunity for Billerud to focus on value over volume, optimizing its asset base, production mix and overall equipment effectiveness.”
See the list…
Billerud share price.
Tui shares rise more than 5% after travel company confirms strong summer expectations, bookings were “well in advance” [s]Summer 2022.” Tui said in a trading update that the company is “well positioned” to achieve its targets for 2023.
See the list…
Tui share price.
5 hours ago
‘Shadow banking sector is a concern,’ says PRA CEO.
Sam Woods, Deputy Governor of the Bank of England and CEO of the Prudential Regulation Authority, discusses the British banking sector.
6 hours ago
Stocks at lower levels: Kingfisher down 5%, Kion down 4%
Shares in German materials maker Kion fell 3.9% in morning trading after Invesco announced it was selling its stake in the group, Reuters reported.
Invesco put its 4.41 million shares in the group up for sale, equivalent to about 3% of the company’s shares in the group.
See the list…
Kion share price.
Kingfisher fell to the bottom of the Stock 600 index after the company cut its annual profit outlook.
Shares of the home improvement retailer were down 5%.
See the list…
Kingfisher share price.
7 hours ago
Ocado shares rise as revenue outlook confirmed
Ocado shares rose 3% in early trading after the food delivery service affirmed its full-year outlook. The company reported a surge in revenue growth in the third quarter, which rose 7.2% year-on-year to £569.6 million ($705 million).
See the list…
Ocado share price.
Ocado Retail, a joint venture between Ocado Group and Marks & Spencer, said the number of active customers rose 1.5% to 961,000 at the end of the quarter.
-Hannah Ward-Glenton
7 hours ago
European markets opened with a decline
European markets opened lower on Tuesday, as investors await the start of the US Federal Reserve’s two-day monetary policy meeting.
The pan-European Stoxx 600 index opened down 0.2%, with sectors temporarily straddling positive and negative territory. Health care stocks were the biggest losers, falling 0.7%, while travel and leisure stocks rose 0.2%.
-Hannah Ward-Glenton
13 hours ago
CNBC Pro: Morgan Stanley says higher oil prices could boost 2 global commercial real estate stocks
The recent rise in oil prices could provide a boost to London’s prime office real estate market, according to Morgan Stanley.
The Wall Street bank explains the newly discovered correlation between sectors and names two stocks that are expected to benefit from this trend.
CNBC Pro subscribers can read more here.
-Ganesh Rao
13 hours ago
Oil prices remain at 10-month high
Oil futures hit their highest level in a year as prices touched nearly $95 a barrel on Tuesday amid fears of a supply deficit.
US West Texas Intermediate crude rose more than 1% to $92.43, its highest since Nov. 4, while Brent crude futures rose to $94.77, its highest since Nov. 16. , when it was trading as high as $94.79.
Prices have risen for three weeks in a row, and Reuters reports that prices are on track for their biggest quarterly increase since Russia’s invasion of Ukraine in the first quarter of 2022.
Earlier this month, Saudi Arabia and Russia extended a joint supply cut of 1.3 million barrels per day until the end of the year.
13 hours ago
CNBC Pro: Rates are rising in Europe. HSBC names the sector’s ‘most and least unsafe stocks’
The European market has been hit by the rise in corporate lending rates.
“Our economists expect significant interest rate headwinds to emerge over the next eighteen months,” HSBC analysts said in a September 15 note.
CNBC takes a look at two screens of Pro Bank’s “most and least unsafe” stocks: one for “cash-rich” companies and the other for “highly leveraged” names.
CNBC Pro subscribers can read more here.
– Amala Balakrishner
21 hours ago
Goldman Sachs says Fed has hiked, even if dot plot looks different
According to Goldman Sachs, the Federal Reserve has capped hikes this year, even though a dot plot released this week shows another hike.
The company’s head said, “In November, we think further labor market rebalancing, better news on inflation, and a potential upcoming Q4 growth pit will reassure more participants that the FOMC may skip a final hike this year, as we expect.” Looks like it’ll happen eventually.” economist Jan Hatzius wrote on Saturday.
“But we expect the dot plot to show a narrow majority of 10-9, pointing to yet another hike, if only to maintain flexibility for now,” he said.
The dot plot shows where individual members expect to see rates trend over the next several years. The Fed concluded its two-day policy meeting on Wednesday.
– Sara Min
13 hours ago
CNBC Pro: Analysts name 2 stocks poised to play a role in the $104 billion EV charging industry – one given a 95% gain
Analysts at investment bank TD Cowen said public electric vehicle charging infrastructure remains “critical” to driving EV adoption.
The bank concluded that the world would need a “large-scale and rapid” build-out of charging infrastructure and installation, which it estimated would require a total US investment of $104 billion by 2030.
According to TD Cowen, here are some sectors that will make the most of that opportunity, as well as stocks that could benefit.
CNBC Pro subscribers can read more here.
– Weizen Tan
10 hours ago
European markets: here are the early calls
European markets are expected to open in a mixed zone on Tuesday.
According to IG data, the UK’s FTSE 100 index is expected to open up 14 points at 7,662, Germany’s DAX up 7 points at 15,274, France’s CAC down 4 points at 7,266 and Italy’s FTSE MIB is expected to open 10 points down at 28,598.
Earnings from Kingfisher and Ocado retail are certain. The data release includes final euro zone inflation figures for August.
– Holi Elite
Source: www.cnbc.com
