Latest news with #ConsumerConfidence
Yahoo
24-06-2025
- Business
- Yahoo
Home Prices Decreased More Than Expected
We have a potentially newsworthy day for the stock market today, although pre-market trading is again shrugging off most of what might bring negative connotations. The blue-chip Dow is +265 points at this hour, +0.62%, while the S&P 500 is up +42 points, +0.70%. The tech-heavy Nasdaq again leads the way, up +213 points, +0.97%, while the small-cap Russell 2000 is +18, +0.87%. Bond yields are roughly where we left them as of yesterday's close: +4.35% on the 10-year and +3.85% on the 2-year. Oil prices have remained tame since temporarily spiking over the weekend with Middle East tensions. The WTI is currently $65 per barrel and ICE Brent crude is $67. Market resiliency is apparent via all of these various metrics this morning. The well-respected but relatively dusty Case-Shiller Home Price Index is out today, showing an overall +2.7% gains in home prices year over year. We say 'dusty' because this read is from April. The 20-city print was well below expectations of +4% growth to +3.4%, and down 70 basis points (bps) from the prior month's unrevised +4.1%. New York City once again led the way in price growth, at +7.9%. This was followed by Chicago at +6.0% and Detroit at +5.5%. The lowest in this survey was once again Tampa, -2.2%, which was only one of two cities in this index to post a negative April number (Dallas, at -0.2%, was the other). Thirty-year fixed mortgage rates were in the mid-6% range for most of April; we can expect further headwinds in this metric going forward, when mortgages crept back toward 7%. After regular trading gets underway today, Fed Chair Jerome Powell will testify before the House Financial Services Committee, to speak on the health of the economy and the likelihood that the Fed will resume interest rate cuts at some point during the current calendar year. We don't expect Powell to deviate from his statements and press conference last week, when the Fed voted unanimously to keep the 4.25-4.50% Fed funds rate steady for the fourth-straight meeting. Powell returns to the Hill Wednesday to face the Senate Banking Committee, much for the same reasons. His press conference last Wednesday was fairly comprehensive and Powell's comments were consistent with those he'd made in past months. We don't expect much change on this front in either of his appearances this week. The June print on Consumer Confidence comes out after today's open. Expectations are for this to ramp back up toward levels we'd largely maintained over the past few years, around 110 or so. But after the 'Liberation Day' tariffs were enacted in April, we saw a significant slide to 85.7. Today, analysts are looking for a 99.5 consensus, following last month's bump up to 98.0. Ultimately, these figures from The Conference Board do carry a certain level of volatility: highs of the past several years reached nearly 140 back in 2018, while the global financial crisis which resulted in the Great Recession back in 2009 sent Consumer Confidence below 30. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report This article originally published on Zacks Investment Research ( Zacks Investment Research Sign in to access your portfolio
Yahoo
24-06-2025
- Business
- Yahoo
Home Price Increases Cool, Fed Chair on Capitol Hill Today
Tuesday, June 24, 2025We have a potentially newsworthy day for the stock market today, although pre-market trading is again shrugging off most of what might bring negative connotations. The blue-chip Dow is +265 points at this hour, +0.62%, while the S&P 500 is up +42 points, +0.70%. The tech-heavy Nasdaq again leads the way, up +213 points, +0.97%, while the small-cap Russell 2000 is +18, +0.87%.Bond yields are roughly where we left them as of yesterday's close: +4.35% on the 10-year and +3.85% on the 2-year. Oil prices have remained tame since temporarily spiking over the weekend with Middle East tensions. The WTI is currently $65 per barrel and ICE Brent crude is $67. Market resiliency is apparent via all of these various metrics this well-respected but relatively dusty Case-Shiller Home Price Index is out today, showing an overall +2.7% gains in home prices year over year. We say 'dusty' because this read is from April. The 20-city print was well below expectations of +4% growth to +3.4%, and down 70 basis points (bps) from the prior month's unrevised +4.1%.New York City once again led the way in price growth, at +7.9%. This was followed by Chicago at +6.0% and Detroit at +5.5%. The lowest in this survey was once again Tampa, -2.2%, which was only one of two cities in this index to post a negative April number (Dallas, at -0.2%, was the other). Thirty-year fixed mortgage rates were in the mid-6% range for most of April; we can expect further headwinds in this metric going forward, when mortgages crept back toward 7%. After regular trading gets underway today, Fed Chair Jerome Powell will testify before the House Financial Services Committee, to speak on the health of the economy and the likelihood that the Fed will resume interest rate cuts at some point during the current calendar year. We don't expect Powell to deviate from his statements and press conference last week, when the Fed voted unanimously to keep the 4.25-4.50% Fed funds rate steady for the fourth-straight returns to the Hill Wednesday to face the Senate Banking Committee, much for the same reasons. His press conference last Wednesday was fairly comprehensive and Powell's comments were consistent with those he'd made in past months. We don't expect much change on this front in either of his appearances this week. The June print on Consumer Confidence comes out after today's open. Expectations are for this to ramp back up toward levels we'd largely maintained over the past few years, around 110 or so. But after the 'Liberation Day' tariffs were enacted in April, we saw a significant slide to analysts are looking for a 99.5 consensus, following last month's bump up to 98.0. Ultimately, these figures from The Conference Board do carry a certain level of volatility: highs of the past several years reached nearly 140 back in 2018, while the global financial crisis which resulted in the Great Recession back in 2009 sent Consumer Confidence below or comments about this article and/or author? Click here>> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Invesco QQQ (QQQ): ETF Research Reports SPDR S&P 500 ETF (SPY): ETF Research Reports SPDR Dow Jones Industrial Average ETF (DIA): ETF Research Reports This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Standard
24-06-2025
- Business
- Business Standard
Pound strengthens as dollar loses safe haven appeal; GBPINR soars above 117 mark
GBPUSD surges to a weeks high above $1.36 mark on Tuesday tracking weakness in dollar overseas. Risk sentiment improved after President Trump announced that a ceasefire has been agreed upon between Iran and Israel, reducing appeal for the safe haven currency. Moreover, Fed Governor Bowman and Chicago Fed President Goolsbee said they favored a Fed rate cut at next months FOMC meeting weighing on the greenback. The dollar index that measures the greenback against a basket of currencies is quoting at 97.70, down 0.32% on the day. Investors await Chair Powells semiannual testimonies and the US June Consumer Confidence report later today for fresh cues. Meanwhile, in UK, BoE Governor Andrew Bailey's testimony before the Lords Economic Affairs Committee and speeches from Monetary Policy Committee (MPC) member Megan Greene and Deputy Governor Dave Ramsden during the day will be watched. GBPUSD is currently seen quoting at $1.3609, up 0.60% on the day. On the NSE, GBPINR futures climbed 0.77% to 117.09.
Business Standard
24-06-2025
- Business
- Business Standard
Dollar index pulls back to one-week low as risk sentiment improves
The dollar index fell to a one-week low as risk sentiment improved after President Trumps announced that a ceasefire has been agreed upon between Iran and Israel, reducing appeal for the safe haven currency. Moreover, Fed Governor Bowman and Chicago Fed President Goolsbee said they favored a Fed rate cut at next months FOMC meeting weighing on the greenback. Federal Reserve Vice Chair for Supervision Michelle Bowman said the time to cut interest rates is getting nearer as risks to the job market may be on the rise. Bowman said inflation appears to be on a sustained path back to 2% and she said she expects only minimal impact on inflation from trade policy. Meanwhile, Chicago Fed President Austan Goolsbee noted that the central bank should cut rates if the "dirt" from tariffs is out of the air. The dollar index that measures the greenback against a basket of currencies is quoting at 97.74, down 0.27% on the day. Investors await Chair Powells semiannual testimonies and the US June Consumer Confidence report later today for fresh cues. Among basket currencies, EURUSD and GBPUSD are both up 0.25%, in tune with dollar slide and are quoting at $1.1669 and $1.3566 respectively.
NZ Herald
17-06-2025
- Business
- NZ Herald
Modest rise in consumer confidence but households set for disposable-income boost as mortgage rates fall
Consumer confidence continues to tread water, but households could soon receive a back-pocket boost in the hundreds of dollars, says a Westpac economist. The Westpac McDermott Miller Consumer Confidence index rose two points to 91.2 in the June quarter. Westpac senior economist Satish Ranchhod said it was a modest rise
