Asia markets are significantly lower with Japan hovering near 33-year highs

2 hours ago

CNBC Pro: Global Stocks Rise. Analysts Love These Names – Giving One Over 80% Rise

US stocks are not the only ones that have risen this year.

Some global indices followed those gains and climbed.

Analysts remain optimistic about some parts of the US market, but some expect international markets to perform better this year.

CNBC Pro screened stocks in the MSCI World, S&P 500 and former US Vanguard FTSE All-World Index Fund for global names with significant upside.

The resulting stock has Buy ratings from more than 65% of the analysts who cover it, and an average price target for upside of at least 30%.

CNBC Pro subscribers can read more here.

– Wizen tan

2 hours ago

CNBC Pro: Alibaba and more: Morgan Stanley names 5 global stocks that are up at least 50%

Morgan Stanley expects five of Asia’s best stocks to rise more than 50% in the next 12 months.

A Wall Street bank is bullish in a raft of Asian stocks as the MSCI Asia-Pacific Equity Index has entered a fresh bull market, up 25% from last October’s low.

Alibaba is the best choice of investment bank in China’s Internet sector.

CNBC Pro subscribers can read more about the remaining four stocks here.

– Ganesh Rao

Friday, June 16, 2023, 4:23 PM EST

Stocks closed lower, and the S&P 500 held on for its best week since March

see chart…

S&P 500 index.

Fri, Jun 16, 2023 10:11 AM EST

Inflation expectations drop sharply in the core consumer survey

Consumer inflation expectations eased in June, providing support for the Federal Reserve in its battle against rising prices.

A closely conducted University of Michigan survey of consumers showed the one-year forecast fell to 3.3%, down from 4.2% the previous month. This is the lowest level since March 2021.

The poll’s headline reading came in at 63.9, better than the Dow Jones estimate of 60.2 and up from 59.2 in May.

– Jeff Cox

Fri, Jun 16, 2023 9:50 AM EST

Fed Chairman Barkin “comfortable” for further hikes if inflation does not improve

Richmond Federal Reserve Chairman Thomas Barkin said Friday that he would be fine with raising interest rates if inflation did not continue to fall.

“I want to reiterate that 2% inflation is our target, and that I still look to buy into the plausible story that slowing demand returns inflation relatively quickly back to that target. If the upcoming data doesn’t support that story, I’m in,” Barkin said in prepared remarks for a speech at Maryland “I feel comfortable doing more.”

“I realize this creates the risk of a more significant slowdown, but the experience of the 1970s offers a clear lesson: If you back off inflation too soon, inflation comes back stronger, requiring the Fed to do more, with more damage,” he added. “This is not a risk I want to take.”

Barkin is a non-voting member this year of the Federal Open Market Committee, which sets interest rates.

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– Jeff Cox

Friday, June 16, 2023, 7:47 AM EST

The Fed’s Waller says the fight against inflation will continue

Federal Reserve Governor Christopher Waller pledged on Friday that the central bank will not back down from its efforts to bring down inflation.

“The Fed’s mission is to use monetary policy to fulfill its dual mandate, and for now that means raising interest rates to fight inflation,” Waller said in prepared remarks for a speech in Oslo, Norway.

In addressing the banking crisis in March, he rejected the notion that the Fed’s rate hike was one of the reasons.

He said, “It is the job of bank leaders to deal with interest rate risk, and all bank leaders have done just that. I am not in favor of changing the stance of monetary policy over ineffective management concerns in a few banks.”

– Jeff Cox

Friday, June 16, 2023, 4:19 AM EST

The two-year Treasury yield rises as investors weigh interest rate expectations

US Treasury yields rose on Friday as investors looked at the future path of interest rates and looked to comments from Federal Reserve officials for details on raising interest rates again. In the guidance issued along with the central bank’s decision to keep interest rates unchanged earlier this week, it indicated that rates could continue to rise this year.

At 4:16 a.m. ET, the 10-year Treasury was trading more than 2 basis points at 3.7516%. The yield on the two-year Treasury note increased by more than four basis points, to 4.6948%.

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– Sophie Kiderlin

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