An Hour AgoZero charge cuts by the Fed this 12 months ‘positively on the desk,’ Matt Higgins of RSE Ventures says The Federal Reserve is unlikely to chop charges thrice this 12 months, Matt Higgins, CEO and co-founder of RSE Ventures, mentioned Thursday on CNBC’s “Avenue Indicators Asia,” in a view at odds with Fed indicators and market expectations. No charge cuts had been “positively on the desk,” with one lower most definitely later within the 12 months, he added.The Federal Reserve signaled Wednesday that it might lower rate of interest 3 times in 2024 whereas holding them regular at its newest assembly.”If unemployment doesn’t begin to decide up, and you do not see some extra downward strain on core inflation, I am unsure there are going to be three charge cuts within the second half of this 12 months,” Higgins mentioned. – Dylan Butts3 Hours AgoGold costs hit a brand new document — market watchers count on rally to continueSpot gold hit over $2,200 per ounce Thursday, notching a brand new excessive after the U.S. Federal Reserve reaffirmed plans for 3 charge cuts this 12 months. And there is extra room for bullion to rally.Costs may rise to $2,300 per ounce within the second half of 2024, particularly towards the backdrop of expectations that the U.S. Federal Reserve may lower charges within the second half of 2024, Aakash Doshi, Citi’s North America head of commodities analysis, advised CNBC.State Avenue’s APAC Gold Strategist Robin Tsui wrote in a March 21 be aware that he anticipates gold may hit $2,400 per ounce as soon as the Fed begins to pivot.—Lee Ying Shan5 Hours AgoNikkei 225 hits new document excessive as enterprise sentiment improves, exports strengthenJapan’s Nikkei 225 index hit a brand new document on Wednesday, rising as a lot as 40,642.89 and surpassing its all-time closing excessive of 40,109.23.The rally was powered by shopper cyclicals and industrial shares, and likewise got here on the again an improved enterprise sentiment in Japan, in addition to higher exports knowledge for February.The highest gainer on the index was semiconductor agency Sumco Corp which gained 5.42%, adopted by monetary know-how agency Rakuten Group, which was up 3.65%.6 Hours AgoNew Zealand unexpectedly slips into technical recession as financial system contracts 0.1percentNew Zealand slipped right into a technical recession final 12 months because the nation’s gross home product contracted by 0.1% within the fourth quarter of 2023 in comparison with the quarter earlier than.This was a shock contraction as economists polled by Reuters had anticipated 0.1% progress. The contraction adopted a 0.3% fall in GDP within the quarter ending September 2023, which meant that the nation has skilled two successive quarters of contraction — the generally accepted definition of a technical recession.On a year-on-year foundation, GDP in New Zealand expanded 0.6%, slowing from the 1.3% progress recorded within the third quarter.— Lim Hui Jie6 Hours AgoFundstrat’s Tom Lee sees Russell 2000 rising 50% in 2024The Russell 2000 popped almost 2% on Wednesday for its finest day in additional than a month – and Fundstrat World Advisors’ Tom Lee thinks the small-cap benchmark has even increased to go.On a relative worth foundation, small caps are again to the place they had been in 1999, which was “a launch level for a 12-year outperformance interval,” Lee, head of analysis at Fundstrat, mentioned on CNBC’s “Final Name.””I believe which means with the Fed doing a dovish pause and CEOs getting extra assured, which means M&A and IPOs and other people different sectors – I do suppose the Russell can rise 50% this 12 months,” he mentioned. Certainly, the Federal Reserve held charges regular and stored to its forecast of three charge cuts in 2024 on the conclusion of its March assembly on Wednesday, lifting the key averages to document closes.An array of things may enhance the Russell 2000 this 12 months, he added, noting that corporations that earn cash within the small-cap index are buying and selling round 11 occasions earnings, “an enormous PE story, together with a price-to-book story.” The benchmark additionally has an enormous biotech weight, and the monetary corporations inside the Russell 2000 are prone to profit as soon as the Fed begins slicing charges, he mentioned.”I believe the Russell 2000 represents… the most effective of issues that occur when the Fed begins slicing,” Lee mentioned.-Darla Mercado7 Hours AgoReddit costs IPO at $34 per shareReddit priced its preliminary public providing at $34 per share.That quantity is on the prime of the anticipated vary of between $31 and $34. It values the social media firm at round $6.5 billion.Reddit will make its public market debut Thursday below the ticker “RDDT.”— Alex Harring, Leslie Picker, Jonathan Vanian7 Hours AgoCorporate buybacks of inventory are surging, Financial institution of America saysIt’s not simply institutional and particular person buyers pushing inventory costs increased. Final week was large for company buybacks of inventory too, Financial institution of America fairness and quantitative strategists together with Savita Subramanian mentioned in a be aware out Tuesday.Buyback traits are “hitting multi-year highs,” BofA famous, with these carried out by the financial institution’s personal company shoppers reaching the third highest weekly stage ever in knowledge going again to 2010.The tempo of repurchases can be “monitoring above the everyday seasonal ranges presently” of 12 months for a second straight week, the strategists wrote. To date in 2024, buybacks as a share of your complete S&P 500 market capitalization have totaled 0.34% versus the 2023 excessive on the identical time of 12 months at 0.29%.Buybacks over the previous 52 weeks as a share of whole market worth are the best since August 2020, in the course of the first Covid pandemic summer season, in accordance with BofA.— Scott Schnipper7 Hours AgoStocks head for successful weekTraders work on the ground on the New York Inventory Alternate (NYSE) in New York Metropolis, U.S., February 28, 2024. Brendan Mcdermid | ReutersWith greater than half of the buying and selling week within the rearview mirror, the three main indexes are on monitor for positive aspects.The Nasdaq Composite has led the three increased this week, including 2.5%. The Dow and S&P 500 had been every up about 2.1%.— Alex Harring7 Hours AgoBig tech advance could also be coming to an finish, UBS warnsThe huge know-how rally could also be on “borrowed time,” in accordance with UBS.Strategist Jonathan Golub mentioned the advances to Apple, Amazon, Alphabet, Meta, Microsoft and Nvidia might be short-lived. Whereas valuations will not be a difficulty on this case, he mentioned an finish to those main positive aspects for the “Massive 6″ shares is turning into a query of when, not if.”With earnings momentum quickly decelerating for the Massive 6, and the broader market development enhancing, continued outperformance of those shares—and the narrowness of market returns that it implies—turns into more and more tough,” Golub wrote in a be aware to shoppers Wednesday. “Whereas upward revisions are presently supporting these corporations, the deceleration in future income can’t be ignored.”Golub’s name comes amid a 12 months of energy for the sector, with the technology-heavy Nasdaq Composite up greater than 9%.— Alex Harring8 Hours AgoSee the shares shifting after hoursMicron places of work in San Jose, California, US, on Thursday, Nov. 30, 2023.David Paul Morris | Bloomberg | Getty ImagesThese are among the shares posting notable strikes in prolonged buying and selling:Micron Know-how — Shares popped 13% after the semiconductor firm beat expectations on income and gave robust steerage for the measure. The corporate additionally posted earnings per share regardless of analysts forecasting a loss.5 Under — The worth retailer tumbled 13% on weak fourth-quarter earnings and outlook for the present quarter and full 12 months.See the total listing right here.— Alex Harring8 Hours AgoStock futures are higherStock futures traded modestly increased shortly after 6 p.m. ET.Dow futures added 0.1%. S&P 500 and Nasdaq 100 futures rose 0.2% and 0.3%, respectively.— Alex Harring