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Prosper planet pulse
Home»Markets»Fed interest rate cuts, oil prices
Markets

Fed interest rate cuts, oil prices

prosperplanetpulse.comBy prosperplanetpulse.comApril 4, 2024No Comments4 Mins Read0 Views
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46 minutes ago

CNBC Pro: Most analysts raise their price targets for these 6 stocks, giving 1 stock 82% upside potential

Analysts became more bullish on six global stocks this week, raising their price targets.

The price target change comes ahead of the next earnings season, which covers the first quarter of this year.

CNBC Pro selects global stocks that have received price target increases from five or more analysts in the past seven days and have upside potential of more than 25%.

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

— Ganesh Rao

46 minutes ago

CNBC Pro: From Nvidia to Boeing: Portfolio managers reveal their favorite stocks right now

Portfolio manager Barbara Dolan revealed some of her favorite stocks and reiterated her bullish outlook for the broader stock market.

“People are reluctant to buy into this bull market because of years of deep skepticism,” he told CNBC. “But this is what bull markets do: They make new highs.” he said.

Her top companies include top-performing Nvidia and struggling aerospace giant Boeing.

CNBC Pro subscribers can read more here.

— Amara Balakrishna

4 hours ago

US oil prices plummet to $86 as tensions between Israel and Iran rise

A storage tank is seen at Marathon Petroleum’s Los Angeles refinery on March 11, 2022 in Carson, California, USA. Processes domestic and imported crude oil into California Air Resources Board (CARB) gasoline, CARB diesel fuel, and other petroleum products. Photographed with a drone.

Binguan | Reuters

Oil futures rose on Thursday, reversing early losses as tensions in the Middle East continued to rise.

West Texas Intermediate for May delivery rose $1.16, or 1.36%, to settle at $86.59 per barrel. Brent for June delivery rose $1.30 (1.45%) to $90.65 per barrel. It was the highest amount for both companies since October 20th.

The Jerusalem Post reported that the Israeli embassy was placed on high alert after Iran announced retaliation for a missile attack on its consulate in Damascus earlier this week. Iran’s Defense Forces has canceled repatriation leave for combat troops amid rising tensions with Tehran, according to the Times of Israel.

Oil prices have risen this year, with U.S. crude oil up nearly 21% and Brent crude up 7.7%, marking the third straight month of gains. The rise is being driven by rising geopolitical tensions and tightening global oil markets.

— Spencer Kimball

4 hours ago

Kashkari warns that interest rates won’t be cut unless inflation eases further

Neil Kashkari, president and CEO of the Federal Reserve Bank of Minneapolis, speaks to Reuters in an interview on May 22, 2023, in New York City, New York.

Mike Seeger | Reuters

Minneapolis Fed President Kashkari warned on Thursday that interest rates may not be cut this year unless inflation picks up further.

“If inflation continues to be flat, I question whether we need to cut interest rates at all,” Kashkari said in an interview with Pensions and Investments, according to Reuters. “There’s a lot of momentum in the economy right now.”

Mr. Kashkari does not have a vote on this year’s Federal Open Market Committee, but he became the second central bank governor to put a damper on interest rate cut discussions this week. On Wednesday, Atlanta Fed President and FOMC voter Rafael Bostic said on CNBC that he expects only one rate cut this year, and probably not until the fourth quarter.

—Jeff Cox

7 hours ago

Richmond Fed’s Barkin urges patience with rate cuts

Richmond Fed President Thomas Barkin speaks at the New York Economic Club in New York City, USA, on February 8, 2024.

Brendan McDiarmid | Reuters

Richmond Fed President Thomas Barkin said Thursday that a strong economy gives him time to monitor developments in inflation data, adding to the alarm that monetary policymakers have expressed recently.

“I don’t think the economy is overheating, but the Fed knows how to respond when it does,” Barkin said in a speech at his hometown. We have sufficient firepower to support the… “For now, I think it would be wise for the Fed to bide its time.”

He called this year’s inflation numbers “somewhat disappointing” and said a strong labor market and macro economy will give Fed officials “time for the clouds to clear” before cutting rates.

—Jeff Cox



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