24 minutes ago
Commerzbank shares rose 4% as the bank re-entered the German DAX index
Shares of Commerzbank rose in early trade after Germany’s second-largest lender returned to the country’s blue-chip index DAX.
57 minutes ago
European markets open higher
The European Stoxx 600 rose 0.8% shortly after Monday’s open, with all sectors in positive territory.
This comes after European markets posted their biggest decline this year so far last week. This week, traders will be watching inflation data from France, Spain, Germany, Italy and the Eurozone.
Energy stocks led the gains on Monday, up 1.43%, followed by the insurance sector, up 1.4%.
Germany’s DAX shed some of last week’s pessimism to gain 1.15%, while France’s CAC 40 rose nearly 1% and Britain’s FTSE 100 rose 0.75%.
Stoxx 600 index.
6 hours ago
CNBC Pro: “The Market Has Gone Too Far:” Chief Global Strategist Predicts When the Fed Will Cut Interest Rates
Despite the US central bank’s efforts to tighten financial conditions, “the market has gone too far,” according to Seema Shah, chief global strategist at Principal Global Investors,
The strategist told CNBC how the Fed might react and when it will cut interest rates, which could boost stock markets.
CNBC Pro subscribers can read more here.
Friday, February 24, 2023, 3:16 PM EST
Investors need to “control what they can control,” Bird says.
The market is currently seeing the effects of “a lot of good news at once,” according to Baird analyst Ross Mayfield. With inflation still rising and the Federal Reserve expected to continue raising interest rates, Mayfield advises investors to “control what happens.” [they] can control.”
“First, automate things: dollar cost averaging (investing across regularly scheduled periods) is a great way to spot outperformance in volatile/sideways markets,” Mayfield wrote in a note on Friday.
“Second, revisit your allocation to make sure you’re well diversified and planned.”
– Hakyung Kim
Fri, Feb 24, 2023 8:36am EST
The Fed’s Mester says interest rates must exceed 5% to suppress inflation
Cleveland Fed President Loretta Mester said Friday that interest rates need to go even higher for inflation to fall.
“My view is that we’re going to have to raise interest rates above 5%,” she told CNBC correspondent Steve Laiseman during an interview on “Squawk Box.” “We’ll determine how much of that is above. It will depend on how the economy evolves over time. But I think we have to be somewhat above 5% and stay there for a while in order to push inflation onto a sustainable downward path to 2%.”
Meester recently made news when she revealed that she was among a small group of Federal Reserve officials on Jan-Feb 31. 1 Federal Open Market Committee, wanted to raise the interest rate by half a percentage point instead of the quarter-point move approved by the committee.
– Jeff Cox
6 hours ago
CNBC Pro: Investor says tech hasn’t hit bottom yet — and reveals FAANG stocks to avoid
Rising Bear Market or New Bull Market? Market professionals are hesitant about the tech rebound this year, but investor Mark Houghton thinks the worst is yet to come.
And while FAANG stocks are popular with many investors, Hawtin believes that some involve riskier bets than others.
Professional subscribers can read more here.
– Xavier Ong
4 hours ago
European Markets: Below are the opening calls
“Infuriatingly humble alcohol fanatic. Unapologetic beer practitioner. Analyst.”