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The Latest Breaking News from Jerome Powell

Fed's housing market 'reset' has officially set off the second-biggest home price correction of the post-WWII era

According to the latest Case-Shiller report, U.S. home prices fell another 0.8% in September.

Fortune

ASX rises, AUSTRAC takes Star to court, Black Friday and Cyber Monday sales top $7 billion

Australian shares have closed higher as the October's consumer price index (CPI) shows inflation is easing.

ABC News

Where home prices are headed in 2023—this map shows CoreLogic's revised outlook for 392 housing markets

The question isn’t if U.S. home prices will fall, it’s how far will prices fall.

Fortune

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read the most diverse news in one place.

Billionaire investor Barry Sternlicht used to think Jerome Powell’s Fed would threaten capitalism—now he calls its rate hikes ‘suicide’

The Fed doesn’t appear to understand the ramifications of what they’re doing,” Sternlicht said.

Fortune

Fed Vice Chair Brainard is 'reassured' by inflation report

Federal Reserve Vice Chair Lael Brainard said she was encouraged by last week’s U.S. inflation report, which pointed to slower price increases, and said the Fed would likely soon reduce the size of its interest rate hikes

The Independent UK

4 Overrated Stocks to Avoid Like the Plague

Once investor favorites DoorDash (DASH), Teladoc Health (TDOC), SoFi Technologies (SOFI), and ContextLogic (WISH) have fallen significantly due to their poor fundamentals and growth prospects amid the Fed’s aggressive interest rate hikes this year. With lingering recession fears, these stocks are expected to tumble further. Thus, it could be wise…

StockNews.com

Fed’s Waller warns inflation fight isn’t over, interest rates will ‘keep going up’ despite prices cooling by more than expected

“We’ve still got a ways to go,” warned Federal Reserve Governor Christopher Waller.

Fortune

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The Pandemic Housing Bubble is bursting, says KPMG

"Once you start the process of prices falling nationally, there is a self-fulfilling momentum to it because no one wants to catch a falling knife" says Diane Swonk, chief economist at KPMG.

Fortune

Slowing US inflation rate raises hopes cost of living crisis may have peaked

Pound surges and stock markets rebound as US consumer price index drops from 8.2% to 7.7% in October

The Guardian - UK

October Inflation Cools To 7.7%, Stocks Sprint Higher: What You Need To Know

The SPDR S&P 500 (NYSE: SPY) is moving higher Thursday morning after the Labor Department reported a 7.7% year-over-year increase in the consumer price index for October.

Benzinga

3 ETFs to Avoid for Long-Term Investing

The Fed’s aggressive monetary policy stance is expected to fuel a recession next year. While the stock market is expected to remain under pressure in the upcoming months, the recession could have long-term consequences for fixed-income securities, precious metals, and companies working on disruptive innovations. Therefore, long-term investors should avoid…

StockNews.com

Nouriel Roubini says it's 'mission impossible' for the U.S. to avoid a recession

History tells us a recession is all but guaranteed next year, and Dr. Doom warns it could combine the worst of two big economic crises in past decades.

Fortune

The Fed is pushing the economy ‘quite unnecessarily’ into a recession, J.P. Morgan strategist says

A recession is likely next year, but it may have been avoidable.

Fortune

CPI Shows Rents Are Rising, Zillow Forecasting Drop In 2023; Professor Says Fed's Powell Will 'See The Light'

While consumer price index data in 2022 has been showing rent prices accelerating, Zillow Group Inc.

Benzinga

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The Guardian - US

We need serious public policy, not more printed money – the US economy is in tatters

Decades of bailouts have convinced some that the Fed will always come to the rescue – but this only papers over the fundamental flaws of the US economy

inkl Originals

The Weekly Wrap for Saturday, 5 November 2022

Let's check in on our cousins in the United States in the dying days of the 2022 midterm campaign. Both the House of Representatives and the Senate sit uncomfortably on a knife's edge.

The Independent UK

Fed's Kashkari: Jobs report shows why more rate hikes needed

The solid U.S. jobs report for October underscores why the Federal Reserve needs to keep raising interest rates higher than it had previously forecast to control inflation, says Neel Kashkari, president of the Federal Reserve Bank of Minneapolis

Tribune News Service

US jobs top forecasts, wages pick up in resilient labor market

U.S. employers added more jobs than expected in October while wages rose firmly, underscoring the resilience of the labor market despite the Federal Reserve’s aggressive efforts to cool it down.

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Bangkok Post

US job growth still robust

WASHINGTON: US businesses reported strong hiring and wage increases in October although the unemployment rate climbed, offering a mixed picture as Federal Reserve officials debate how long to extend their campaign to curb elevated inflation.

WEKU

U.S. hiring cooled slightly in October. That could help to ease inflation

Hiring slowed modestly in October, as employers added 261,000 jobs. That might take some of the upward pressure off inflation.

ABC News

Qantas investors back Alan Joyce multi-million-dollar bonus, ASX gains after weak start

Qantas shareholders support big bonuses for executives including boss Alan Joyce, ASX regains lost ground, the Bank of England raises rates by the most in more than three decades.

Bangkok Post

Fed jolt has Asian markets on edge

Asian bourses paused on Thursday and most emerging market currencies in the region fell after the US Federal Reserve issued its fourth straight 0.75% interest rate hike, with chairman Jerome Powell suggesting the policy will continue to control inflation.

StockNews.com

2 Stocks You Shouldn't Gamble on This Fall

While the Fed’s fourth consecutive interest rate hike was in line with expectations, the extent to which the interest rate will ultimately rise has triggered a fresh bout of panic and volatility in the stock market. Given the gloomy market outlook, fundamentally weak stocks DraftKings (DKNG) and Mullen Automotive (MULN)…

StockNews.com

Don't Get Caught Holding Either of These ETFs

The Fed announced its fourth consecutive 75-basis-point interest rate increase yesterday and indicated that it could raise interest rates higher than expected. This is expected to keep the stock market under pressure in the upcoming months. Therefore, we think losing ETFs Ark Innovation (ARKK) and SPDR S&P Biotech (XBI) are…

Benzinga

Apple Stock Continues To Slide Following Fed Interest Rate Hike: Is The Bull Cycle Over?

Apple, Inc (NASDAQ: AAPL) was sliding in Thursday morning trading after gapping down over 2% to start the session. Thursday’s sinking prices come after a big bearish day on Wednesday, when the S&P 500 closed down 2.42%, partly driven by Apple, which lost 3.73%

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