Fortune

Get ready for a bonanza of rate cuts from the Federal Reserve that starts in a few months and extends all the way into next summer, according to analysts at Citi Research. In a note on Friday, the bank cited fresh signs of a slowing economy for its view that the Fed will trim rates by 25 basis points eight times, starting in September and extending to July 2025.

The Fed could slash rates by 200 points over 8 straight meetings as the economy heads for a sharper downtrend, Citi says

The S&P 500 has produced a positive return 100% of the time during the second half of election years involving an incumbent president. The S&P 500 has returned an average 4% during the second half of presidential election years, but it has returned an average of 11% when the election involved an incumbent (like Joe Biden in 2024).

This Stock Market Indicator Has Been 100% Accurate Since 1964. It Signals a Big Move in the 2nd Half of 2024.

Benzinga

By RoboForex Analytical Department
The AUD/USD pair reached a six-month high of 0.6752, marking its fifth consecutive day of gains. The currency's strength is largely driven by market expectations that the Reserve Bank of Australia (RBA) might diverge from the global trend of lowering interest rates, raising them in response to escalating inflation pressures. May's CPI figures have intensified discussions around monetary tightening.
Market sentiment is split between expectations for a rate hike and maintaining the current rates at the RBA's next meeting in August. High domestic yields draw international capital, boost the Australian dollar, and provide a haven from the political...

AUD/USD Hits Six-Month High Amid RBA Rate Hike Speculations

Reuters

A look at the day ahead in U.S. and global markets from Mike Dolan. Wall St stocks start the week surfing new records into another earnings season and Federal Reserve testimony, while surprise French election results saw the country's left-wing thwart Marine Le Pen's far right and leave a hung parliament there.

Morning bid: Stocks surfing new highs, French surprise

New York Post

Inflation is easing and the job market has returned to the “tight but not overheated” situation seen before the COVID-19 pandemic threw the U.S. economy into disarray, the Federal Reserve said on Friday in a congressional report that documented the steady emergence of more normal conditions in the aftermath of the health crisis.

“Inflation eased notably last year and has shown modest further progress so far this year,” the Fed said in its latest Monetary Policy Report to Congress, noting that in the key area of housing services it is likely just a matter of time before the pace of prices increases settles back to...

US inflation cooling, job market similar to pre-pandemic conditions, Fed says

Paul Lee, 28, moved to Bangkok, Thailand from NYC three years ago. He lives in a 650-square-foot one-bedroom apartment in the Thonglor neighborhood, which Paul says is "the SoHo of Bangkok." The apartment came furnished, and Paul has access to amenities, including a pool and a gym.

I left the U.S. for Thailand — look inside my $544/month apartment

People in their 30s may be a long way off from their retirement savings goals, but they have plenty of time to get on track. On average, Americans say they'll need around $1.46 million saved up to retire comfortably, according to Northwestern Mutual's "2024 Planning and Progress" study. And for millennials, the majority of whom are in their 30s, that number is a little over $1.6 million.

Here's how much money Americans in their 30s have in their 401(k)s

New York City, NY

Experts say to notify your bank that your cards were lost or stolen so they can be canceled and the bank can send you replacements via mail. Keeping an extra card and cash at home can come in handy if you lose your wallet. Freezing your credit immediately can prohibit...

I lost my wallet. Here's what experts say I should do to protect my identity and money

Alfredo Porretti, JPMorgan head of shareholder engagement, joins 'Money Movers' to discuss the key drivers of the uptick in shareholder activism activity, what more M&A activity is on the heels of, and what portion of shareholder activism activity has been successful.

Rise of shareholder activisim: Here's what you need to know

Kyle Little, Sherwood Lumber COO, joins CNBC's 'The Exchange' to discuss lumber demand, inflation's impact on prices, and more.

Sherwood Lumber COO on why lumber is priced at record lows

Charoen Pokphand Group’s Senior Chairman, Dhanin Chearavanont, reveals to CNBC's Christine Tan the secrets of the company's longevity and staying ahead of the competition.

CP Group's senior chairman shares the company's secret to success

CNBC's Deirdre Bosa reports on a new anniversary in the social media space, and entrants from new players.

Meta's Threads turns one

Texas State

Houston, TX

Hurricane Beryl swept into Texas early Monday with heavy rains and powerful winds, knocking out power to 1.5 million homes and businesses and flooding streets with fast-rising waters as first responders raced to rescue stranded residents. Beryl had already cut a deadly path through parts of Mexico and the Caribbean...

Beryl weakens to tropical storm after sweeping into Texas as Category 1 hurricane

CNBC's Kate Rogers reports on the need for talent in the tech sector.

Semiconductor sector sees a worker shortage

Moving to a foreign country may seem like a pipe dream, but it doesn't have to break the bank. When deciding whether to move overseas for life or work, one of the biggest factors to consider is personal finances. For the fourth consecutive year, Vietnam is the most affordable country...

This is the most affordable country for expats in 2024, according to a new report

Illinois State

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Chicago, IL

Chicago Food Adventures

Every year, new laws that were passed the prior year go into effect on July 1. In 2024, a number of new laws will begin this Monday. Among them include higher wages for tipped employees, a gas tax increase, and driver's licenses for undocumented immigrants.

New Laws July 1: Driver's Licenses for Undocumented Migrants, Raises for Tipped Workers, and More

Markets Insider

The US economy is not in a recession, even with the slowing labor market. "If this isn't a soft landing, I don't know what is," Julie Su, acting labor secretary, told BI. It could give the Fed the confidence it needs to cut interest rates in September. Long-awaited financial relief...

The 'coveted soft landing' is here, Biden's top labor official says — and it could set Americans up for an interest rate cut in September

Maisy Dewey was raised in the New Jersey suburbs but traveled back and forth to the United Kingdom her whole life. Her dad was born and raised in London, and the 25-year-old benefits from being a dual citizen of the U.S. and the UK. Dewey and her fiancé, Harrison Kent,...

Gen Z couple left the U.S. and relocated to a houseboat in London: 'We feel like we're living in a children's picture book'

CNBC brings you fast, accurate, and actionable business news and market updates.

News Update – Late Morning

Georgia State

In April 2021, Paul Lee took a vacation to Thailand. Five months later, he decided to leave the United States behind and make a permanent move to the Asian country. Lee, originally from Georgia, had been living in New York City and grossing around $1 million a year thanks to his e-commerce business. Despite doing well enough to pay for his parent's retirement, the 28-year-old tells CNBC Make It he found himself without purpose, feeling depressed, and needing to make a change.

28-year-old left the U.S., relocated to Thailand, and pays $544/month for his 1-bedroom apartment—take a look inside

NewsBreak

Asia markets mostly slip as Japan real wages fall for 26th straight month; China stocks drop for fifth day

Investors await U.S. consumer price index reading, due Thursday stateside, to assess the Federal Reserve's interest rate path. Data from the country's ministry of health, labor...

Asia markets mostly slip as Japan real wages fall for 26th straight month; China stocks drop for fifth day

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