4 hours ago
Japan’s exports increased more than expected in March
Exports from Japan in March increased by 7.3% compared to the same month last year, slowing from the 7.8% increase in February.
However, the figure was higher than the 7% increase expected by economists polled by Reuters.
Imports into the country fell 4.9% year-on-year, reversing the 0.5% increase in February.
As a result, Japan’s trade surplus increased to 366.5 billion yen ($2.37 billion), compared to Reuters’ forecast of 299.9 billion yen.
— Lim Huijie
4 hours ago
Japan’s business confidence darkens in April: Reuters Tankan Index
According to a Reuters Tankan survey conducted in April, Japan’s business confidence had darkened among large companies as the weaker yen weighed on household budgets.
The manufacturing sentiment index was +9, down from +10 the previous month. A positive number means that the number of optimists exceeds the number of pessimists and vice versa.
According to Reuters, the services sector index fell to +25 from +32 in the previous month, despite a slight increase in retail trade.
The monthly Reuters Tankan Index is widely considered a leading indicator of the Bank of Japan’s quarterly Tankan survey.
— Lim Huijie
4 hours ago
CNBC Pro: Morgan Stanley named world’s best dividend stock for this quarter
Investing in an increasingly volatile market is no mean feat amidst geopolitical risks, rising bond yields, and macroeconomic uncertainty.
Given the unpredictability of the situation, some analysts are renewing their recommendations for buying high-dividend stocks.
“Markets are pricing in expectations that the Fed will cut interest rates after March. Talk of “no landing” and “sticky inflation” is on the rise again. “These lead to higher U.S. bond yields, which particularly favors dividend stocks to outperform,” Morgan Stanley analysts said in a recent note, adding that this quarter’s “high-conviction” stocks listed.
CNBC Pro subscribers can read more here.
— Amara Balakrishna
4 hours ago
CNBC Pro: ‘Hard to ignore’: Jeffries says this cybersecurity stock could double despite surging 75% in the past year
Investment bank Jefferies predicts the cybersecurity company’s stock will rise nearly 100% from current levels.
The stock appears to have momentum, with its stock up 75% in the past year and more than doubling since hitting an all-time low in early 2023.
CNBC Pro subscribers can read more here.
— Ganesh Rao
11 hours ago
Chairman Powell says interest rates may need to continue rising as inflation shows little progress
Federal Reserve Chairman Jerome Powell holds a press conference after two days of Federal Open Market Committee meetings on interest rate policy in Washington, March 20, 2024.
Elizabeth Franz | Reuters
Federal Reserve Chairman Jerome Powell said Tuesday that interest rates may need to remain high for an extended period of time as the fight to rein in inflation continues.
Chairman Powell said during a panel discussion that there has been little progress in curbing inflation this year. For this reason, he said monetary policy may need to be maintained.
“Recent data shows solid growth and continued strength in the labor market, but so far this year there has been no further progress towards returning to the 2% inflation target,” the Fed’s president said. ” he said.
“Recent data clearly does not give us much confidence and instead indicates that it will likely take longer than expected to achieve that confidence,” he said. “Having said that, we believe that policy is well placed to address the risks we face.”
— Alex Harring, Jeff Cox
12 hours ago
Iran’s attack on Israel increases long-term risks in the Middle East, Obama’s national security adviser says
Tom Donilon, former national security adviser in the Obama administration, said Iran’s air strikes on Israel over the weekend increase long-term risks in the Middle East.
Oil prices have fallen in the past two sessions as Israel and its U.S.-led allies successfully repelled the attack, allaying fears of a wider war. But Donilon said Israel was likely to respond with an attack and the current cycle of conflict was not over yet.
Donilon, who is also chairman of the BlackRock Investment Institute, said Iran is now prepared to respond to any Israeli attack on Iranian interests or individuals, often directly from its own territory.
“Over the long term, the risk profile is structurally increasing,” Donilon said. The former national security adviser said there is growing concern about the risk of terrorist attacks in Western countries as the Israel-Hamas war drags on.
“The longer this situation drags on, the more we become concerned about the ripple effects of terrorism here in the United States and especially in Europe,” Donilon said. He said the number of potential threats and conspiracies against Jewish organizations in particular is significant.
Donilon’s comments were interrupted by protesters calling on the Colombian government to divest from fossil fuels.
— Spencer Kimball
15 hours ago
Fed’s Mr. Jefferson expects inflation to decline by keeping policy unchanged
Federal Reserve President Philip Jefferson said on Tuesday that inflation will continue to decline as the central bank maintains restrictive policies.
“My fundamental outlook is that interest rates will remain at current levels, inflation will fall further, the rebalancing of labor demand and supply will continue, and the labor market will remain strong,” Jefferson said. Stated. Policy decisions have changed over the years.
“Of course, the outlook remains highly uncertain and if future data suggests that inflation is more persistent than I currently expect, I will not extend the current repressive policy stance,” he said. It would be appropriate to maintain it for a period of time,” he added.
Markets are currently pricing in the Fed to keep interest rates on hold until September, and then start lowering them gradually.
— Jeff Cox
