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Christopher Waller, a member of the Federal Reserve Board of Governors, during a Fed Listens event in Washington, D.C., on Sept. 23, 2022.Al Drago | Bloomberg | Getty ImagesFederal Reserve Governor Christopher Waller on Monday signaled that future interest rate cuts will be less aggressive than the big move in September as he expressed concern that the economy could still be running at a hotter-than-desired pace.Citing recent reports on employment, inflation, gross domestic product and income, the policymaker indicated that "the data is signaling that the economy may not be slowing as much as desired.""While we do not want to overreact to this data or look through it, I view the totality of the data as saying monetary policy should proceed with more caution on the pace of rate cuts than wa...

Some well-known stocks could see big moves on the back of earnings reports this week. The third-quarter season is revving up despite several companies being closed on Monday for Columbus Day. Major reporters on the docket range from United Airlines to Goldman Sachs . CNBC Pro screened to find the stocks that could see the biggest swings in either direction following their earnings releases this week. To do this, CNBC Pro looked at the expected move based on activity in the options market. Here's the stocks that can see the largest potential post-earnings moves: Walgreens is expected to see the largest action, rising or tumbling 12.2%. Shares of the pharmacy chain, which reports Tuesday, have been in a rough patch. The stock is down more than 60% in 2024, putting it on track for its third s...

Even as focus turns to the upcoming presidential election, Morgan Stanley thinks the business cycle will matter more for stock picking. The recent rise in yields following optimistic economic data, including last week's wholesale inflation report, could indicate that the bond market is beginning to part with some of the growth concerns on the hope that the economy is on stable footing, equity strategist Michael Wilson wrote in a research note Monday. He added that this trend provides greater confidence in cyclical stocks, which are positively correlated to upward moves in the 10-year Treasury yield. Wilson expects both rates and economic data to support cyclical stocks. The group should also benefit from a rebound in capital market activity, an improved lending environment and a pickup in ...

Patrick Collison, CEO and co-founder of Stripe, speaking at 2022's Italian Tech Week in Turin, Italy.Giuliano Berti | Bloomberg | Getty ImagesFounders of some of Europe's largest technology unicorns on Monday backed an open letter calling for a "tech renaissance" fueled by the creation of a single pan-European entity to promote startups and innovation in the bloc.The list of entrepreneurs backing the proposal includes the likes of Patrick Collison, CEO of payments tech giant Stripe; Taavet Hinrikus, co-founder of money transfer app Wise and venture capital firm Plural, and Eléonore Crespo, CEO of French accounting software unicorn Pigment.The letter was also signed by VC firms Index Ventures, Sequoia and Seedcamp."The multitude of countries and cultures in Europe is its unfair advantage. B...

Bill McDermott, Chairman, President & CEO ServiceNow, speaking on CNBC's Squawk Box at the World Economic Forum Annual Meeting in Davos, Switzerland on Jan. 17th, 2024. Adam Galici | CNBCEnterprise software giant ServiceNow and AI-focused startup CoreWeave announced plans to invest billions of dollars in the U.K., in a vote of confidence for Prime Minister Keir Starmer as he looks to attract foreign investment.ServiceNow said it would invest $1.5 billion in the U.K. over the next five years, as it grows its U.K. business. The U.S.-based company plans to expand its U.K. presence with new office space and grow its staff base beyond the 1,000 people it currently employs.ServiceNow also said it would invest the cash into localizing the processing of data for its large language models (LLMs...

Crude oil futures fell nearly 2% on Monday after OPEC cut its demand forecast for 2024 for the third time in a row.OPEC now sees demand growing by 1.9 million barrels per day in 2024, down from 2 million bpd in its previous forecast, according to a report released Monday. The group expects demand to grow by 1.6 million bpd in 2025, compared with 1.7 million bpd previously.Here are Monday's energy prices:West Texas Intermediate November contract: $74.08 per barrel, down $1.48, or 1.96%. Year to date, U.S. crude oil has gained more than 3%.Brent December contract: $77.58 per barrel, down $1.46, or 1.85%. Year to date, the global benchmark has risen nearly 1%.RBOB Gasoline November contract: $2.1035 per gallon, down 2.24%. Year to date, gasoline is little changed.Natural Gas November contract...