NEW YORK, April 17- U.S. Initial claims for state unemployment benefits ticked up 2,000 to a seasonally adjusted 304,000 for the week ended April 12, the Labor Department said on Thursday. The Philadelphia Federal Reserve Bank also said factory activity in the U.S. mid-Atlantic region picked up in April at a faster clip than expected.» Read More
Japanese core consumer prices fell slightly as expected in May from a year earlier. Separate data showed the jobless rate remained at a nine-year low of 3.8% in May, while household spending rose 0.4% from the same month a year earlier.
The Federal Reserve’s two-day meeting on interest rates, inflation and the economy started Wednesday. Is the Fed overly concerned with inflation? Carl Tannenbaum, chief economist at LaSalle Bank, and Paul Kasriel, senior vice president and director of economic research at Northern Trust Company, offered their insights on “Morning Call.”
John Kilduff, senior vice president and energy analyst at Man Financial, appeared on CNBC's special "Power Lunch at the Four Seasons" to give his outlook for oil and gasoline -- and to explain why easing tensions in Nigeria haven't made him bearish on either.
As the Federal Open Market Committee prepares to meet this week, Joseph LaVorgna, chief U.S. economist at Deutsche Bank, joined "Power Lunch" at New York's Four Seasons to discuss inflation, the economy, and how the Fed will react to the subprime mess.
Leon Cooperman, founder of Omega Advisors and former Chair of Goldman Sachs Investment Policy Committee, said he expects stocks to do well the rest of this year and into next year.
With the second half beginning next week, two market analysts joined "Morning Call" to give their outlook for stocks for the remainder of 2007. Charles Bobrinskoy, vice chairman and director of research at Ariel Capital Management, is "somewhere between cautious and bearish," while Patricia Chadwick, president of Ravengate Partners, "is not as worried."
U.S. Federal Reserve policy makers want to shift their emphasis away from current benign inflation to uncertainty about future price pressures, and are debating whether to stop calling inflation "elevated" in their policy statements, the Wall Street Journal reported on Thursday.
Bank of England Governor Mervyn King and three other policymakers opposed this month's decision to hold interest rates at 5.5% and called for a hike, boosting expectations that borrowing costs will rise next month.
Robert Mellman, senior U.S. economist for JP Morgan, told CNBC’s “Morning Call” that strong employment and a sound economy have offset the housing slump.
Inflation data will set the agenda today as traders await the release of the CPI. Stock markets around the world are higher.
Bob Iaccino of RWH Financial, told CNBC’s “Squawk Box” that he believes the market rally will continue despite rising bond yields.
The Swiss National Bank raised interest rates by 25 basis points for the seventh quarter running on Thursday, and said more increases were likely if the economy remained strong.
Central bankers no longer have the luxury of being able to "mumble on occasion," which many were prone to do in the past, a top Federal Reserve official said.
Consumer prices in Spain rose 2.3% on the year in May, down from a 2.4% annual rate in April, the National Statistics Institute said Wednesday.
Consumer price inflation eased to 2.5% in the 12 months ending in May, down from 2.8% in April, the government said Tuesday.
Surging food prices boosted China's annual consumer price inflation to a 27-month high of 3.4% in May from 3.0% in April, the National Bureau of Statistics said on Tuesday.
Inflation of around 3% in the United States since 2005 is too high for comfort in the longer term, Cleveland Federal Reserve President Sandra Pianalto said on Monday.
In an exclusive interview with CNBC, Michael Moskow, president of the Chicago Federal Reserve Bank, said he believes inflation expectations are “well contained” and he sees stronger economic growth ahead.
Chief financial officers are becoming more pessimistic about the U.S. economy, according to a survey by Duke University’s Fuqua School of Business. The CFOs expect slower growth in earnings, capital spending and hiring, the survey says. They’re also concerned about rising labor costs and weakening consumer demand.
Some consumer advocates fear that consumers may get less bang for their buck at the pump, as scorching heat physically expands the volume of gasoline -- while gasoline prices remain the same. Judy Dugan, research director at the Foundation For Taxpayer & Consumer Rights, told "Morning Call" that the heat expansion -- and ostensible dilution -- of gasoline affects consumers negatively.