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☆ Billionaire investor David Einhorn shares an overlooked theory for why gold prices have spiked so much
▼ + stars: | 2024-04-28 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +4 min

The recent gold rally is counterintuitive, as high interest rates typically make bullion less attractive. But billionaire investor David Einhorn has a theory that he shared in his latest investor letter. Einhorn suggests that gold's rally is potentially due to countries in the East buying gold from Western nations. To explain the strong run for gold, billionaire investor David Einhorn offered a potential theory in his latest letter to investors published this week. Others, like billionaire investor Ray Dalio, say gold can hedge risks stemming from high government debt levels.

Persons: David Einhorn, Einhorn, —, there's, David Rosenberg, Ed Yardeni, Ray Dalio Organizations: Service, Federal, Greenlight, World Gold, People's Bank of Locations: China, People's Bank of China, India, Singapore

☆ Warren Buffett loves dividend-paying stocks, but Berkshire doesn't pay one — Here's why
▼ + stars: | 2024-04-28 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

Warren Buffett is a fan of buying dividend-paying stocks, but his conglomerate Berkshire Hathaway doesn't offer a payout itself, despite its tens of billions cash. But the main reason Berkshire doesn't pay a dividend is that the Oracle of Omaha has been confident in his ability to deploy capital in more profitable ways. Apple , which accounts for more than 40% of the portfolio, pays a 0.6% dividend yield. But even the hundreds of thousands of Class B, or "Baby Berkshire," shareholders voted no by 47 to 1. "I think they expect us to do whatever we think makes sense for all shareholders," Buffett said in 2023.

Persons: Warren Buffett, Berkshire Hathaway, Buffett, I'd, Berkshire Organizations: Berkshire, Oracle, CNBC, Apple, Bank of America, Coca Cola, Chevron, American Express Locations: Berkshire, Omaha, buybacks

☆ Why so many men in the US have stopped working
▼ + stars: | 2024-04-28 | by ( Jacob Zinkula | Andy Kiersz | ) www.businessinsider.com time to read: +10 min

AdvertisementIt could be all about recessionsSince the 1950s, whenever the US economy fell into a recession, the rate of working men tended to suffer a lasting blow. AdvertisementWhy have recessions appeared to have such a lasting impact on working men? The strong recovery of men working after the pandemic recession could be due to the unique nature of this downturn — which tanked an otherwise healthy economy. And of course, some lucky prime-age men aren't working because they've had a lot of financial success — and already retired. Deciphering how much these explanations have fueled the decline of working men could be worthy of further explanation, the economists said.

Persons: —, It's, Abigail Wozniak, Wozniak, David Autor, There's, Jason Furman, Barack Obama's, Elise Gould, Gould, aren't, we've, John M, Coglianese, they've Organizations: Service, Federal Reserve Bank of Minneapolis, Massachusetts Institute of Technology, Washington Post, of Labor Statistics, San Francisco Fed, BLS, Economic, Economic Policy Institute, Federal Reserve

A growing group of America's young people are not in school, not working, or not looking for work. They're called "disconnected youth" or "opportunity youth," and their ranks have been growing for nearly three decades. Experts say it's not just work and school; this group is often also disconnected from a sense of purpose. Palmer added that those with limited access to transportation, people with disabilities, and young parents were also more susceptible. Disconnected young people don't have that luxury."

Persons: —, Destiny, She's, she's, They're, Kristen Lewis, Lewis, hadn't, there's, Sen, Tim Kaine, who's, Joseph, he's, hasn't, he'd, Ashley Palmer, Palmer, Sarah Nunley, Nunley, Veronica, There's, Lucchesi, they're Organizations: Service, Business, Federal Reserve Bank of Dallas, Social Science Research Council, Survey, University of Minnesota's, National Center for Education Statistics, Walmart, Texas Christian University, Ivy League Locations: Florida, Alabama, Indiana, Silicon Valley, YOLO, Texas

☆ The US economy may end up caught in a dreaded period of stagflation. 2 experts outline the scenario, and how to keep your money safe
▼ + stars: | 2024-04-27 | by ( Filip De Mott | ) www.businessinsider.com time to read: +5 min

This would force interest rates to stay higher for longer, putting pressure on US businesses and consumers. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementA pair of economic reports has brought back a word no central banker ever wants to hear: stagflation. The difficult scenario occurs when inflation rises and growth stalls, a dangerous combination just experienced by the US economy.

Persons: stagflation, —, Thursday's, LPL, Jeffrey Roach, Mike Reynolds, Reynolds, Jamie Dimon, Roach, shouldn't Organizations: Service, Federal, yesterday's, Fed, Wall Street, Bank of America

☆ 2 experts outline a looming scenario where the US economy ends up caught in a dreaded period of stagflation
▼ + stars: | 2024-04-27 | by ( Filip De Mott | ) www.businessinsider.com time to read: +5 min

Asia-Pacific markets were mixed on Friday as investors in Asia look to the Bank of Japan's policy decision and inflation figures out of Tokyo. Thirteen economists polled by Reuters unanimously forecast that the BOJ will leave its monetary policy unchanged. Tokyo's headline inflation rate for April came in at 1.8%, slowing from the 2.6% in March. Core inflation in the capital — which strips out prices of fresh food — sharply fell to 1.6% from March's 2.4%, missing expectations of 2.2% from economists polled by Reuters. Tokyo inflation data is widely considered as a leading indicator of nationwide trends.

Persons: Cherry Organizations: Nippon Budokan, Bank of, Reuters Locations: Tokyo, Japan, Asia, Pacific

☆ Stagflation fears just hit Wall Street. Now for the next crucial report on prices
▼ + stars: | 2024-04-26 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

New York CNN —The Federal Reserve’s favorite inflation reading is due Friday morning. Investors are nervously awaiting the report after first-quarter US GDP came in softer than expected Thursday. Stocks tumbled as the slowdown in GDP, coupled with stubbornly high inflation data, stoked fears of stagflation. Wall Street earlier this year expected that the central bank would ease rates as many as six times in 2024, beginning in March. Yellen said the weaker reading was not “concerning,” mentioning that measures of underlying growth were strong in Thursday’s report.

Persons: Stocks, ”, Ayako Yoshioka, Janet Yellen, Alessandra Galloni, Alicia Wallace, ” Yellen, “, we’ve, Yellen, Read, Freddie Mac, Bryan Mena, Lawrence Yun Organizations: CNN Business, Bell, New York CNN, Gross, Commerce Department, Atlanta, Fed, Thursday’s, Group, Traders, Bank of America, Reuters, National Association of Realtors Locations: New York, Yellen

☆ Nvidia jumps more than 15% this week. A key reason: what other companies are saying
▼ + stars: | 2024-04-26 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +8 min

"These are big checks made out to get Blackwells and H200s from, yes, Nvidia," Jim Cramer said during Friday's Morning Meeting . "There are a lot of people … that think this stock is a dangerous stock," Jim said. The next earnings report to shed light on demand for Nvidia's AI chips is set for Tuesday evening when Club name Amazon releases first-quarter results. While Amazon also has custom AI chips, it's a sizable Nvidia customer and the companies have enjoyed a longtime partnership. Even electric vehicle maker Tesla indicated earlier this week that it plans to buy tens of thousands more Nvidia chips this year to support self-driving car efforts.

Persons: Wall, Jim Cramer, Blackwell, OpenAI, There's, Jim, Wednesday's, – tanked, Alphabet's, FactSet, Ruth Porat, capex, Porat, Amy Hood, Hood, Microsoft's, Tesla, Jim Cramer's, Jensen Huang, Josh Edelson Organizations: Nvidia, Microsoft, Investors, Devices, Meta, Facebook, Bank of America, AMD, Broadcom, Wall, Google, Amazon, CNBC, SAP Center, AFP, Getty Locations: –, U.S, San Jose , California

☆ Bank of Japan keeps monetary policy unchanged, sees slightly higher inflation in fiscal 2024
▼ + stars: | 2024-04-26 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

A pedestrian walks past the Bank of Japan (BoJ) building in central Tokyo on July 28, 2023. The Bank of Japan kept its policy rate unchanged Friday after its monetary policy meeting, holding its benchmark policy rate at 0%-0.1%. While the move was expected, this comes after Tokyo's April inflation came in lower than expected, with the core inflation rate at 1.6% compared to expectations of 2.2% from Reuters. The bank previously said in March it bought about six trillion yen ($83.5 billion) worth of bonds per month in the past. No comment was made by the BOJ on the yen , which has steadily weakened since the BOJ ended its negative interest rate policy last month and abolished its yield curve control policy.

Organizations: Bank of Japan, The Bank of Japan, Reuters, U.S Locations: Tokyo

☆ Regulators Seize Republic First, a Troubled Philadelphia Bank
▼ + stars: | 2024-04-26 | by ( Kashmir Hill | More About Kashmir Hill | ) www.nytimes.com time to read: 1 min

Regulators late Friday seized Republic First Bancorp, a troubled Philadelphia lender, in the first U.S. bank failure this year. Republic First Bancorp, known as Republic Bank, had about $4 billion in deposits at the end of January and assets worth $6 billion, the Federal Deposit Insurance Corporation said in a statement. said, with Republic First’s 32 branches in Pennsylvania, New Jersey and New York reopening as soon as Saturday as Fulton Bank branches. Founded in 1988, Republic First was smaller than the midsize banks that collapsed last year — including First Republic Bank and Silicon Valley Bank, whose assets each topped $200 billion. expects the cost to the Deposit Insurance Fund to be $667 million.

Organizations: First Bancorp, Republic First Bancorp, Republic Bank, Federal Deposit Insurance Corporation, Fulton Bank of Lancaster, Fulton Bank, First Republic Bank, Silicon Valley Bank, Deposit Insurance Fund Locations: Philadelphia, U.S, Republic, Pa, Pennsylvania , New Jersey, New York

☆ Here are Friday's biggest analyst calls: Nvidia, Microsoft, Alphabet, Apple, Snap, Intel, Western Digital and more
▼ + stars: | 2024-04-26 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Here are Friday's biggest calls on Wall Street: Bank of America reiterates Alphabet as buy Bank of America said it is sticking with its buy rating on Alphabet following earnings Thursday. Deutsche Bank reiterates Snap as buy Deutsche Bank said it is sticking with its buy rating on the stock following earnings on Thursday. " Goldman Sachs reiterates Intel as sell Goldman Sachs said it is standing by its sell rating on Intel shares following earnings Thursday. Benchmark upgrades Western Digital to buy from hold Benchmark upgrades Western Digital following the company's "major upside" earnings report. Bank of America reiterates Nvidia as buy Bank of America said Nvidia remains a top idea at the firm.

Persons: Goldman Sachs, prioritization, Maxim, Bank of America downgrades Hertz, Raymond James, Knight, Morgan Stanley downgrades Mobileye, Morgan Stanley, Piper Sandler, Wells, Dow Organizations: Bank of America, Deutsche, Deutsche Bank, Microsoft, Intel, TAM, Apple, Barclays, Enphase Energy, Digital, " Bank of America, Sonic Automotive, underperform Bank of America, Underperform, of America, Nvidia, AMD, MU, Caterpillar, Air Defense, Swift Transportation, EPAM, IT Services, Materials, Compass Minerals, JPMorgan, Dow, Teledyne, HSBC Locations: China, underperform, Israel

☆ Bank of Japan needs to hike rates again as they're at an 'absurdly low level,' economist says
▼ + stars: | 2024-04-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBank of Japan needs to hike rates again as they're at an 'absurdly low level,' economist saysRob Carnell, Asia-Pacific chief economist and head of research at ING, says the central bank has its "work cut out" for it.

Persons: Rob Carnell Organizations: Email Bank of Japan, ING Locations: Asia, Pacific

☆ Google is 'going on the offensive:' What analysts are saying after latest Alphabet earnings
▼ + stars: | 2024-04-26 | by ( Pia Singh | ) www.cnbc.com time to read: +5 min

Analysts from major firms, ranging from UBS to Bank of America, were encouraged by accelerated growth in Google Search, Cloud and YouTube seen in the previous quarter. GOOGL YTD mountain Google stock this year. Sandler kept his overweight rating and increased his price target by $27 to $200, which implies 28% potential upside from Thursday's close. Jefferies's Brent Thill maintained his buy rating and upped his price target by $20 to $200, saying shares are trading at an attractive valuation. His target price suggests only about 11% potential upside from Thursday's close.

Persons: Doug Anmuth, Anmuth, Ross Sandler's, Sandler, Jefferies's Brent Thill, Oppenheimer, Jason Helfstein, Justin, Ken Gawrelski, Gawrelski Organizations: Google, UBS, Bank of America, YouTube, JPMorgan, Barclays, –, buybacks, & &

Microsoft and a major chemical stock were among Friday's biggest analyst calls. He also lowered his price target by $1 to $25, which implies shares can fall roughly 19% from Thursday's close. Sandler increased his price target by $27 to $200, which implies 26.6% potential upside. JPMorgan: Analyst Mark Murphy added $30 to his price target, which is now at $470. He also hiked his price target to $61 from $55, which implies upside of 8% going forward.

Persons: Morgan Stanley, Mobileye, Adam Jonas, Jonas, — Pia Singh, Stifel, Stanley Elliot, Elliott, Alphabet's, Oppenheimer, Jason Helfstein, Ross Sandler, Sandler, Brent Thill, Google's, Justin Post, Post, Wall, Raimo Lenschow, Wells, Michael Turrin, MSFT, Turrin, Mark Murphy, Murphy, Keith Weiss, Weiss, Jeffrey Zekauskas, Zekauskas, Dow, Fred Imbert Organizations: CNBC, Microsoft, JPMorgan, Dow Inc, TAM, Caterpillar, Google, Barclays, –, Jefferies, Bank of America, DOW Locations: Israel, Thursday's, reaccelerate, Wells Fargo

☆ Yen at its weakest in decades as BOJ meets
▼ + stars: | 2024-04-26 | by ( ) www.cnbc.com time to read: +3 min

The yen was parked by a 34-year low on the dollar and decade lows on other crosses ahead of a Bank of Japan meeting where interest rates are expected to stay low, while the dollar dipped elsewhere on softer-than-expected U.S. growth data. The yen , however, fell to its weakest since 1990 at 155.75 per dollar, tracking a sharp rise in U.S. yields as separate figures showed a surge in an inflation measure. The size and persistence of the yield gap has encouraging short yen positions and drives Japanese money into dollar assets such as Treasuries, weighing on the currency. The Bank of Japan already hiked rates at a landmark meeting in March where it ended years of negative interest rates. The New Zealand dollar was a touch firmer in Asia morning trade at $0.5960 and has gained in the previous four sessions.

Persons: —, Shunichi Suzuki, Nathan Swami, I'm, Sterling Organizations: Bank of Japan, Japanese Finance, Bank of, Citi's, New Zealand Locations: Asia, Bank of Japan, Citi's Asia, Pacific, Singapore

☆ It isn't just Boeing that's bleeding billions — major US airlines are hemorrhaging cash too
▼ + stars: | 2024-04-26 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +4 min

Southwest Airlines and American Airlines posted losses in the first quarter of 2024. On Thursday, Southwest Airlines and American Airlines reported losses in their quarterly earnings call. Southwest Airlines CEO Bob Jordan told CNBC the decision to cease flights had "nothing to do" with Boeing's aircraft delivery delays. AdvertisementRepresentatives for Southwest Airlines and American Airlines didn't immediately respond to a request for comment from BI sent outside regular business hours. "Near term, yes, we are in a tough moment," Boeing CEO Dave Calhoun said in a letter to employees on the same day.

Persons: It's, Bob Jordan, —, George Bush, Jordan, Robert Isom, I've, Isom, Isom's, Brian West, Dave Calhoun Organizations: Boeing, Airlines, Southwest Airlines, American Airlines, Southwest, Service, —, — Bellingham International, Cozumel International Airport, George, George Bush Intercontinental Airport, Syracuse Hancock International, CNBC, American, Bank of America Global Industrials Conference . West, BI, Max, Wednesday Locations: — Bellingham, Cozumel, Southwest, Oregon, California

☆ European markets set to open higher as positive momentum returns
▼ + stars: | 2024-04-26 | by ( Karen Gilchrist | ) www.cnbc.com time to read: 1 min

European markets were poised to open higher Friday, regaining momentum after a dip in yesterday's session. The pan-European benchmark Stoxx 600 index ended Thursday's session lower as investors digested a slew of first-quarter earnings, as well as a potential mining takeover bid. Looking ahead, corporate releases on Friday come from L'Oreal, TotalEnergies and NatWest. Asia-Pacific markets were higher after the Bank of Japan kept its benchmark policy rate at 0%-0.1%, as expected. Meanwhile, U.S. stock futures rose overnight as Big Tech names Alphabet and Microsoft saw shares rally on strong earnings.

Organizations: L'Oreal, TotalEnergies, NatWest, Bank of Japan, U.S, Big Tech, Microsoft Locations: Asia, Pacific

☆ Bank of America lays out the exact scenario that could finally pop the stock market's AI bubble
▼ + stars: | 2024-04-26 | by ( Joe Ciolli | Filip De Mott | ) www.businessinsider.com time to read: +3 min

Bank of America says the ongoing "anything but bonds" bull market has led to a very top-heavy stock market. The firm is watching real 10-year yields and credit spreads for signals of when that AI-led rally could end. BofA says higher yields and tighter spreads could sound recession alarms and spur a stock sell-off. The key piece is the cohort of mega-cap tech companies that have long dominated stock-market performance, largely because of their affiliation with AI. In the meantime, if you subscribe to BofA's view, you should be watching the 10-year real yield for a signal of when any such downturn is coming.

Persons: BofA, —, YCharts There's Organizations: of America, Service, Bank of America, Apple, Nvidia, Microsoft

☆ Dividend stocks are poised to outperform, says Bank of America. Here are names on its list
▼ + stars: | 2024-04-26 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

The U.S. economy is flashing a sign that's favorable for dividend stocks, according to Bank of America. In this environment, investors want to own dividend stocks with above-market yields, she said. For those characteristics, she looks to quintile two of the Russell 1000 by trailing dividend yield. Her screen guards against owning distressed companies that might move into the first quintile, the highest dividend yield group, if prices fall ahead of potential dividend cuts. APA has a 3.1% dividend yield, while HF Sinclair yields 3.5%.

Persons: Savita Subramanian, Subramanian, Russell, Jeffrey Martin, CNBC's Jim Cramer, John Christmann Organizations: Bank of America, Bank of, AES, APA, Sinclair, Callon Petroleum, CNBC, Citigroup, Citi Locations: U.S

☆ These stocks reporting earnings next week have a history of beating Wall Street expectations
▼ + stars: | 2024-04-26 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

A large group of stocks are reporting earnings next week — and some could be in for notable moves if history repeats itself. It comes during what is shaping up to be a strong earnings season, with nearly 4 out of 5 companies that have reported exceeding Wall Street expectations. In the runup to next week, Bespoke Investment Group screened for names that are scheduled to report that could gain on the back of strong results. Here are the stocks reporting next week that passed the screen: By both measures, HubSpot shows the most promise of the companies reporting next week. The restaurant chain has topped forecasts for earnings per share 77% of the time, with an average advance following earnings of 3.75%.

Persons: HubSpot, Stephens, Jim Salera, Trevor Young Organizations: Investment, Google, Bank of America, LSEG, Holdings, Barclays Locations: Texas

☆ Stock market today: Indexes jump to close best week since November as investors cheer tech earnings
▼ + stars: | 2024-04-26 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +3 min

NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementUS stocks closed higher on Friday to end the best week since November, with tech rallying after earnings from mega-cap stalwarts. Instead, traders focused mostly on earnings strength from Alphabet and Microsoft. In a Friday note, Fundstrat's Mark Newton pointed out that the earnings of Alphabet and Microsoft are paving the way for a broad rally. Next week, Apple and Amazon, will release earnings and investors will be focused on the Fed's next policy meeting scheduled for April 30-May 1.

Persons: —, Fundstrat's Mark Newton, Savita Subramanian, we're, it's, Subramanian Organizations: Microsoft, Service, Federal, Amazon, Nvidia, Technology, Bank of, CNBC, Apple, Dow Locations: Here's

☆ Japanese central bank's stance can be viewed as dovish, says former BOJ official
▼ + stars: | 2024-04-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJapanese central bank's stance can be viewed as dovish, says former BOJ officialKazuo Momma, executive economist at Mizuho Research & Technologies and former Bank of Japan assistant governor, discusses Bank of Japan's decision to keep its key rate unchanged.

Persons: Kazuo Momma Organizations: Mizuho Research & Technologies, Bank of Japan

☆ Columbia president Minouche Shafik faces criticism in all directions
▼ + stars: | 2024-04-25 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +7 min

New York CNN —When Minouche Shafik was announced as Columbia University’s president last year, she was called the “perfect candidate” by the chair of Columbia’s Board of Trustees. University of Pennsylvania president Liz Magill and Harvard University president Claudine Gay both stepped down in the wake of pressure over their response to antisemitism on campus. They say the crackdown on student protests, which resulted in more than 100 arrests, violated academic freedom. “I am here today, joining my colleagues and calling on President Shafik to resign if she cannot immediately bring order to this chaos,” Johnson said. Last week, Shafik authorized the New York Police Department to sweep the “Gaza Solidarity Encampment” on Columbia’s campus.

Persons: Minouche Shafik, Shafik —, Liz Magill, Claudine Gay, Shafik, Alexandra Ocasio, Cortez, Mike Johnson, “, ” Johnson, ”, James Finkelstein, “ She’s, ” Finkelstein, Grayson Kirk, Kirk, Columbia’s Hillel, Robert Kraft Organizations: New, New York CNN, Columbia, Trustees, Representatives, World Bank, International Monetary Fund, Bank of England, London School of Economics, Hamas, College, University of Pennsylvania, Harvard University, New York Police Department, Democratic, Republican, George Mason University, ” Columbia’s, Police, NYPD, of Education, Harvard, Department, Education, ” New England Patriots Locations: New York, Israel, Vietnam, Harlem, Gaza, Columbia’s, Columbia, ”

☆ GDP growth slowed to a 1.6% rate in the first quarter, well below expectations
▼ + stars: | 2024-04-25 | by ( Jeff Cox | ) www.cnbc.com time to read: +4 min

Consumer spending increased 2.5% in the period, down from a 3.3% gain in the fourth quarter and below the 3% Wall Street estimate. Net exports subtracted 0.86 percentage point from the growth rate while consumer spending contributed 1.68 percentage points. Excluding food and energy, core PCE prices rose at a 3.7% rate, both well above the Fed's 2% target. Income adjusted for taxes and inflation rose 1.1% for the period, down from 2%. Services spending increased 4%, its highest quarterly level since Q3 of 2021.

Persons: Dow Jones, Jeffrey Roach Organizations: Gross, department's, Analysis, Commerce Department, Federal, Dow Jones, Treasury, Federal Reserve, LPL, Labor Department

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