*Scotland to stay in UK but pound falls on profit-taking. NEW YORK, Sept 19- The dollar gained against a basket of major currencies on Friday, posting its 10th consecutive week of gains, as investors bet U.S. interest rates would rise more quickly than had been expected.» Read More
Stocks are heading lower as April chain store sales promise a shower of negative news, though not unexpected. European markets are lower and Japanese stocks closed down on the day. But the star of Asia, China's stock market continues to bubble higher, and the Financial Times says the value of the shares that traded Wednesday on China's Shanghai and Shenzhen exchanges was greater than all of the rest of Asia combined.
The U.S. Federal Reserve on Wednesday held benchmark interest rates steady at 5.25% for a seventh straight meeting and again said its main worry is that inflation will fail to moderate. The widely expected decision by the U.S. central bank's Federal Open Market Committee keeps the overnight federal funds rate target at the level it hit in June after 17 straight quarter-percentage point increases.
The Federal Reserve is expected to keep interest rates steady on Wednesday, but some investors are hoping that the central bank may indicate that inflation pressures are easing.
Okay folks, here's the update on today's news trivia question for Bonus Bucks. Without going into details, there's a problem with the answer selection response. So here's the solution. Those of you who knew the correct answer--and there is one--but got a response of incorrect, you will receive credit for the answer. You will get your Bonus Bucks. This is for the whole day, so if you're still selecting your answers, this applies to you.
Stocks are searching for direction at lower levels ahead of the Fed's meeting today. The Fed is not expected to move on rates but its comment will be watched carefully.
Michael Metz, chief investment strategist for Oppenheimer, said Tuesday’s downbeat market is just a pause –- not the first sign of a sell-off.
Jeff Harte, analyst at Sandler O’Neill, told CNBC’s “Squawk Box” that many internationally focused financial stocks are undervalued. “My thesis has been that it’s been a tough environment if you’re a domestic-centered bank,” Harte said Tuesday. “The yield curve is flat and credit is probably not going to get a lot better. But from a cyclical standpoint, there’s still a lot of upside revenue-wise from global investment banks.”
The stock market may not be returning double-digit gains -- but Mark Jordahl, chief investment officer at First American Funds, and Jack Ablin, chief investment officer at Harris Private Bank, still believe "investors need to be in the market." The CIOs joined "Closing Bell" to explain why.
Jeremy Zirin, senior equity strategist at UBS Wealth Management, told CNBC’s “Closing Bell” that strong earnings will continue to drive the stock market higher. Richard Cripps, managing director of Portfolio Strategy at Stifel, Nicolaus Capital Markets, said he expected the market to rise in the near term, but urged caution.
Drew Kanaly, chairman at Kanaly Trust Company, told CNBC’s “Power Lunch” that good Fed policy combined with the right moves on taxes, regulation and trade will continue to drive the stock market higher. He expects the Federal Reserve to cut rates in August or September.
It should surprise no one who watches the ups and downs of Wall Street that a horse named Street Sense would come from way behind to win the Kentucky Derby. The week ahead looks like it will put everyone's street sense to the test as a louder chorus of market watchers use the word "caution" when it comes to buying stocks.
The U.S. Federal Reserve looks certain to hold interest rates steady when it meets this week and will likely restate worries on inflation, even while nodding to weak growth and an easing of price pressures.
"To sum up next week in one word: bumble," David Buik, marketing director at Cantor Index, told CNBC.com, adding that the strong gains seen in equity markets over the past weeks are likely to slow.
Jim Fisher, senior portfolio manager at M&T Bank Investment Advisors, told CNBC’s “Power Lunch” that he’s “cautiously optimistic” about the sustainability of the current market rally.
Jeff Layman, portfolio manager at BKD Wealth Advisors, told CNBC’s “Power Lunch” that he believes the current rally can be sustained.
Time for today's trivia questions. Here they are. The video question is worth $2,000 Bonus Bucks: The Royal Bank of Australia has decided to keep interest rates on hold at what percent? Your selection of answers is: 6.0% or 6.25% or 5.25% or 5.75%. And the news question is worth $1,000 Bonus Bucks: Blockbuster sold its UK video game retailer, Game Station, for how much? Your selection of answers is: $250 million or $150 million or $200 million or $100 million.
The European Central Bank's vigilance will ensure future price stability and a stable euro, ECB Governing Council member Klaus Liebscher wrote in an Austrian newspaper on Wednesday.
Australia's central bank kept interest rates steady at 6.25% on Wednesday, as slowing inflation gave it scope to skip a tightening despite strong domestic demand and a drum-tight labor market.
Michael Darda, chief economist for MKM Partners, told CNBC’s “Squawk on the Street” that the current market favors small-cap stocks and emerging markets.“We’re in an environment of massive liquidity, booming global growth and interest rates are still low,” Darda said Tuesday. “That favors smaller companies, emerging markets. The falling dollar favors international issues over domestic concerns.”
Robert Weissenstein, chief investment officer for Private Banking Americas at Credit Suisse, told CNBC’s “Power Lunch” that he expects the Federal Reserve to leave interest rates unchanged for the immediate future, but the next surprise could be an increase--not a cut.