European stocks fall as Bank of England boost fades; Stoxx 600 down 1.6%

Euro zone economic sentiment continues to deteriorate The European Commission’s economic sentiment indicator, which aggregates business and consumer confidence surveys, fell to 93.7 in September from 97.3 in August, its lowest point since November 2020. Confidence plummeted across economic sectors amid a broad increase in inflation expectations, despite the European Central Bank‘s commitment to interest … Read more

Stocks fall, Chinese yuan crosses 7.2 against the dollar

US 10-year Treasury yield breaches 4% for the first time since 2010 CNBC Pro: Credit Suisse says now’s the time to buy two green hydrogen stocks — and gives one over 200% upside Credit Suisse says it’s time to enter the green hydrogen sector, with a number of catalysts set to drive the clean energy … Read more

European markets open to close, earnings, data and news

The Bank of England is right to hold off on rate hikes as the pound slumps, investment director says The UK’s central bank shouldn’t rush to increase interest rates, according to Julian Howard, Lead Investment Director of Multi Asset Solutions at GAM Investments, despite the slumping pound. “I don’t think it’s the Bank of England’s … Read more

Analysts name top ‘high conviction’ stocks for playing market turbulence

Wall Street analysts are doubling down on a bunch of stocks they see as well positioned to weather the macro uncertainty. CNBC Pro combed through top Wall Street research to find analysts’ top “high conviction” ideas. These companies have strong growth prospects and top-notch management, analysts said. The stocks include: CrowdStrike, Atlassian, Medifast, Thermo Fisher … Read more

Overly bearish market gives us a chance to add to a beaten-down but quality tech stock

We’re buying 25 shares of Microsoft (MSFT) at roughly $240 each. Following Thursday’s trade, Jim Cramer’s Charitable Trust will own 375 shares of MSFT, increasing its weighting in the portfolio to 3.26% from 3.05% The Microsoft purchase will put a small amount of cash to work Thursday after the prior session’s Federal Reserve-driven declines finally … Read more

Bank of England hikes, says UK may already be in recession

The Bank of England warned that the UK will enter recession later this year. The expected recession is forecast to be the longest since the global financial crisis. Vuk Valcic | SOPA Images | LightRocket | Getty Images LONDON — The Bank of England voted to raise its base rate to 2.25% from 1.75% Thursday, … Read more

European markets open to close, BOE and SNB rate decisions

Swiss franc weakens dramatically against dollar, euro and sterling after rate hike The Swiss franc weakened dramatically against the US dollar, euro and sterling following the central bank’s decision to hike interest rates by 75 basis points to 0.5%. At 9:30 am London time, the dollar was 0.9% higher against the Swiss currency, while the … Read more

Here’s everything the Federal Reserve is expected to do today

Construction workers outside the Marriner S. Eccles Federal Reserve Building, photographed on Wednesday, July 27, 2022 in Washington, DC. Kent Nishimura Los Angeles Times | Getty Images There’s not a lot of mystery surrounding Wednesday’s Federal Reserve meeting, with markets widely expecting the central bank to approve its third consecutive three-quarter point interest rate hike. … Read more

Fed hike, Bank of Japan, interest rates, currencies

Oil prices climb after Fed’s rate hikes, demand fears linger Oil prices climbed following the Fed’s third consecutive rate hike. Reuters also reported Chinese refiners are expecting the nation to release up to 15 million tons worth of oil products export quotas for the rest of the year, citing people with knowledge of the matter. … Read more