Minutes of the meeting showed that Bank of Japan members favored raising interest rates if economic and price growth targets were achieved.
The Bank of Japan released the minutes of its meeting on Wednesday September Monetary Policy MeetingThis shows that members basically agree to raise interest rates if the economy and price growth are in line with expectations.
The bank expects the economy to continue growing above potential and has set an inflation target of 2%.
at the end September Policy Meetingthe Bank of Japan kept interest rates steady at 0.25%.
Members said that Japan’s economic development is generally consistent with the outlook for July 2024, with wages continuing to rise and consumption growing.
— Dylan Butts
CNBC Pro: Goldman Sachs says these global stocks will soar on the $857.5 billion electrification boom — with room for 45% upside
Goldman Sachs said demand for power and data centers is sweeping the world, and it’s not just U.S. technology giants that are benefiting.
The investment bank analyst pointed out that demand and electricity consumption in Europe will grow by 50% in the next 10 years, reversing the sluggish situation since 2008.
This huge growth implies nearly 800 euros ($857.5 billion) in investments in Europe’s transmission and distribution lines, they added, listing stocks on their radar with upside potential of more than 30%.
CNBC Pro subscribers can read more here.
— Amala Balakrishna
CNBC Pro: No matter who wins, these two stocks beat the S&P 500 in November election
Two stocks outperforming the market S&P 500 Index According to a study by CNBC Pro, the election has been held every November for the past three decades — regardless of the outcome.
CNBC Pro screens for stocks in the MSCI World Index that are gaining more than average right now S&P 500 Index Its losses have been lower than the index in November of every election year since 1988.
CNBC Pro subscribers can read about Here are two stocks.
— Ganesh Rao
Strategists say it will be crucial to keep an eye on the dollar late Tuesday
David Zervos, chief market strategist at Jefferies, said investors should keep a close eye on the dollar on Tuesday night.
“It’s going to be the most liquid and transparent information about what we’re going to do to the market because people can put money there very quickly. Obviously it’s going to be difficult to put money into anything like credit. Bonds are not going to be Liquidity,” he said Tuesday morning on CNBC’s “Money Movers.” “In times of stress, we turn to the dollar, at least temporarily, especially if there is global pressure, even U.S.-led pressure.”
Investors generally expect the dollar to strengthen if Trump is re-elected as president. Zervos added that many in the speculative community are betting that dollar trade with China is a trade that Trump wins.
—Lisa Kelley Han
Citibank’s Scott Cronut says investors should sell stocks that rise on Trump or buy stocks that fall on Harris
Investors should sell on a potential market rebound if: trump card Citibank’s Scott Chronert said he won the election.
“You’re starting from a fairly broad valuation environment based on very strong earnings growth going forward into 2025,” the bank’s U.S. equity strategist told CNBC.quack in the street“Tuesday. “What we worry about is that once Trump wins, you introduce tariffs into the discussion… (and) as we take action on tariffs, the growth expectations for 2025 become more questionable.
On the other hand, if Harris Chronert said investors should consider buying in anticipation of market declines.
“It really comes down to Trump and tariffs and Harris and taxes,” he said.
— Sean Conlon
Goldman Sachs says oil markets could face volatility if Trump wins
Goldman Sachs said a second Trump administration is more likely to bring volatility to the oil market.
The investment bank told clients in a note on Monday that Donald Trump is likely to tighten sanctions on Iran, reducing Iranian supplies and putting upward pressure on prices in the near term.
Oil prices rose about 1% as U.S. voters headed to the polls. U.S. crude oil As of 8:56 a.m. ET, oil prices rose 35 cents, or 0.49%, to $71.82 a barrel. global benchmark Brent Crude oil futures rose 33 cents, or 0.44%, to $75.41 a barrel.
“Conceptually, the impact of a potential Trump re-election on oil prices,” Yulia Zhestkova Grigsby, vice president of commodities research at Goldman Sachs, told clients in a note on Monday. is vague.
However, Goldman Sachs said that in the medium term, the second Trump administration may intensify trade tensions through tariffs, which will put downward pressure on global oil demand and prices.
— Spencer Kimball
Nomura says stocks could sell off after election
Nomura strategists believe there could be a sell-off in stocks after the U.S. presidential election, given the current positioning of hedge funds and other major investors.
“The massive accumulation of long positions in U.S. equities by real money investors and macro hedge funds (etc.) suggests that the market’s response to a red sweep may be an initial surge, followed shortly by a round of ‘fact selling,'” Nomura said in a note said the report.
really, S&P 500 Index It is less than 3% below the all-time high set on October 17.
SPX Year to Date
Recent history shows stocks rise on presidential election days
This is shaping up to be another winning presidential election day for the stock market.
this Dow Chemical, S&P 500 Index and Nasdaq Index Everyone is chasing gains on Tuesday. If this holds through to the close, it would mark the fifth consecutive positive presidential election day for the blue-chip Dow Jones.
What’s more, 2024 will mark the sixth consecutive presidential election day for the S&P 500 and Nasdaq.
— Alex Harling, Peter Schachno
