40 Mins Ago
Europe stocks open lower
2 Hours Ago
European Central Bank set to slow rate hikes as financial conditions tighten rapidly
The European Central Bank is expected to lift its benchmark rate by a smaller step of 25 basis later today, as core inflation declines and its own survey data points to much tighter financial conditions in the region.
The new economic figures both strengthen the case for the ECB to only hike rates by a smaller amount at is policy meeting, and to possibly announce an increase in the pace of its balance sheet reduction.
— Annette Weisbach
7 Hours Ago
CNBC Pro: Morgan Stanley’s Slimmon says it’s dangerous to be too defensive and names top ‘offensive’ stock picks
Morgan Stanley Investment Management’s Andrew Slimmon says it’s time to buy some “offensive” stocks.
“So I think it’s very dangerous to own just very defensive stocks … I think you want some offensive in your portfolio,” Slimmon told CNBC’s “Squawk Box Asia” on Tuesday.
He explains why and names stocks to buy.
CNBC Pro subscribers can read more here.
— Weizhen Tan
6 Hours Ago
Asian currencies strengthen after Fed rate decision
Currencies in the Asia-Pacific strengthened against the greenback as the U.S. Federal Reserve signaled a potential end to its rate hiking cycle.
The offshore Chinese yuan strengthened by 0.3% to 6.900 against the greenback on Thursday morning as the dollar index slid 0.24% to 101.102.
The Korean won strengthened 0.6% to 1,326.84 against the greenback, and the Japanese yen strengthened 0.13% to 134.49 against the U.S. dollar. The Australian dollar was flat and the New Zealand dollar also gained by 0.24% to 0.6240 against the greenback.
— Jihye Lee
7 Hours Ago
CNBC Pro: How to trade Volkswagen and BMW quarterly earnings based on history
Germany’s Volkswagen and BMW are set to announce their first-quarter earnings later on Thursday.
Using data from FactSet going back five years, CNBC Pro has assessed how well the automaker’s stock performs against benchmark indexes based on different outcomes of their quarterly earnings reports.
CNBC Pro subscribers can read more here.
— Ganesh Rao
13 Hours Ago
Fed hikes rates
The Fed raised rates for a 10th time in this tightening cycle, as was widely expected. The central bank also signaled a pause to the campaign could come.
“In determining the extent to which additional policy firming may be appropriate to return inflation to 2 percent over time, the Committee will take into account the cumulative tightening of monetary policy, the lags with which monetary policy affects economic activity and inflation, and economic and financial developments,” the Fed said in a statement.
The Fed also removed a sentence from the previous announcement, which said, “The Committee anticipates that some additional policy firming may be appropriate” for the Fed to achieve its 2% inflation goal.
For more, check out CNBC’s Fed live blog.
— Fred Imbert, Jeff Cox
4 Hours Ago
European markets: Here are the opening calls
European markets are heading for a lower open Thursday as investors react to the latest monetary policy decision by the U.S. Federal Reserve and look ahead to the next move by the European Central Bank.
The U.K.’s FTSE 100 index is expected to open 28 points lower at 7,760, Germany’s DAX 28 points lower at 15,788, France’s CAC down 7 points at 7,391 and Italy’s FTSE MIB 48 points lower at 26,567, according to data from IG.
Earnings are set to come from Shell, BMW and VW, among others. Data releases include euro zone producer prices for March.
— Holly Ellyatt
