Asian markets continue their losses after Powell’s statements. Inflation slows in Japan


53 minutes ago

CNBC Pro: Should you maintain those high yields now? Here’s what Wall Street says, and how to invest

2 hours ago

Indonesia’s central bank aims to ease the rupiah with a surprise interest rate hike

The Bank of Indonesia raised interest rates on Thursday in a surprise move to avert a lower rupiah.

The Indonesian rupiah traded 0.5% lower against the dollar on Thursday, after losing nearly 2% this year.

Indonesia’s central bank raised the 7-day reverse repo rate by 25 basis points to 6%, the second hike this year. All economists polled by Reuters expected the bank to leave interest rates unchanged.

“Policymakers have struggled to stabilize the currency in the face of global uncertainties,” said Radhika Rao, chief economist at DBS Group Research, noting that the door remains open for further policy tightening as “Indonesian policymakers face a political dilemma where global uncertainties outweigh On the recent local positivity.” data outputs.”

Data ranging from inflation, trade balance and money supply will be released before the Bank Indonesia’s next policy meeting in November.

– Shreyashi Sanyal

2 hours ago

China leaves lending rates unchanged in October

China kept its benchmark loan interest rates unchanged for October, after the slowdown in the world’s second-largest economy showed signs of stabilizing in the wake of recent political support.

The People’s Bank of China left its key one-year loan rate – the peg for most household and business loans in China – unchanged at 3.45%. The benchmark five-year loan rate — the peg for most mortgages — was fixed at 4.2%, according to a statement from China’s central bank on Friday.

– Clement Tan

2 hours ago

The 10-year US Treasury bond yield exceeds 5% for the first time since 2007

The yield on the benchmark 10-year US Treasury note exceeded 5% for the first time in 16 years.

The yield on the 10-year Treasury note reached 5.001% at 5:02 PM EST, the first time it has traded above this key level since July 20, 2007 when the yield reached 5.029%.

— Gina Francola, Christine Wang

3 hours ago

Japan’s headline inflation rate slows to 3% in September

Japan’s headline inflation rate was 3% for September, slowing from 3.2% in August.

However, this reading was the 18th consecutive month that inflation remained above the Bank of Japan’s 2% target.

Core inflation – which excludes fresh food prices – also slowed to 2.8%, down from 3.1% in August.

Separately, the so-called “core” inflation measure, which excludes fresh food and energy prices and is monitored by the Bank of Japan, fell to 4.2% from 4.3% in August.

– Lim Hui Ji

2 hours ago

CNBC Pro: These 6 global stocks are approaching the dreaded ‘death cross’ chart pattern

Six global stocks appear close to forming what is known as a “death cross” chart pattern, indicating potential selling pressure in the near future.

A death cross is a price chart pattern that forms when a stock’s 50-day moving average crosses below its 200-day moving average. Technical analysts see this as a sign that investors are bearish on the stock or that the stock’s momentum is weakening and will continue to decline, with a potential buying opportunity soon. The death cross is also used as a bear market predictor.

CNBC Pro subscribers can read more about these six stocks here.

-Ganesh Rao

9 hours ago

Gold appears “overstretched in the short term” after the recent rally, says the technical analyst

Investors considered the rise in gold prices a sign of the markets’ aversion to risk during a period of rising bond yields and the escalation of the conflict between Israel and Hamas. Spot gold was last trading at $1,957.39 an ounce, up about 8% from its October low of $1,819.

However, Katie Stockton of Fairlead Strategies expects gold to be “overstretched in the short term” and could pull back next week. It expects the recent move higher to be a rebound from previous lows.

“Gold has really gone up this week,” Stockton said. “Everyone was quick to say it was because there was now less risk in the market, but I disagree.”

“We have to put it in the context of what happened before this gold rally, which was a really sharp downtrend. So, gold is basically back to where it was in mid-to-late September,” she added. “So we’ve seen a round-trip in the gold price.”

9 hours ago

Pharma Pfizer and Moderna shares among 26 new lows for the S&P 500

Shares of pharmaceutical companies such as Pfizer and Moderna were among 26 names on the S&P 500 that reached new lows on Thursday. Illumina shares were also trading at low levels not seen since December 2016.

Elsewhere, United Airlines hit lows last seen in October 2022, while Southwest Airlines was trading at lows not seen since May 2020.

Here are some other names that have reached new lows:

-Sarah Main, Gina Francola

11 hours ago

Stocks turn after Powell said monetary policy is not too tight yet

15 hours ago

Unemployment claims come in lower than expected

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