DIRS.INFO The most relevant business & tech news

☆ Takeaways from New York’s high-stakes special election
▼ + stars: | 2024-02-14 | by ( Gregory Krieg | ) edition.cnn.com time to read: +8 min

CNN —Democrat Tom Suozzi is heading back to Congress after defeating Republican Mazi Pilip in the special election to replace serial fabulist and expelled former GOP Rep. George Santos. The result will further narrow the GOP’s already thin House majority and hand President Joe Biden’s party a boost as the general election campaign comes into focus. If not redemption, the New York Democratic Party in this special election earned a reprieve. As the storm swept through Queens and Long Island on Tuesday, Republican groups and the Pilip campaign scrambled to drive – literally in some cases – their voters to the polls. (Democratic Rep. Grace Meng from the neighboring 6th congressional district, and the area’s Asian American voters, delivered above and beyond for Suozzi.)

Persons: Tom Suozzi, Republican Mazi Pilip, George Santos, Joe Biden’s, Donald Trump, Biden, he’s, –, Santos, Trump, Pilip, Suozzi, ”, George Santos’s, Rick Lazio, didn’t, Hakeem Jeffries, Kathy Hochul, Jay Jacobs, thrall, Israel –, Grace Meng Organizations: CNN, Republican, GOP Rep, Biden, Democrats, New York’s, ’, GOP, Trump, Santos, George Santos’s volleyball, New, Democratic, New York Democrats Suozzi’s, New York Democratic Party, – Gov, GOP House, Israel Defense Forces, Republicans, Democrat, Queens Locations: Long, dissing, Israel, New York City, New York, Queens, Gaza, Nassau County, Queens –, Suozzi

☆ Opinion: Tom Suozzi wins New York election in a vote for normalcy
▼ + stars: | 2024-02-13 | by ( Opinion Max Burns | ) edition.cnn.com time to read: +6 min

Suozzi struck a tough tone on immigration, while Pilip seemed to drag her feet in acknowledging she had voted for Republican presidential frontrunner Donald Trump. Suozzi continued that theme into his victory speech on Tuesday night, emphasizing that voters want politicians who will fix problems. Progressive Democrats laid the blame for Santos’ election and Republicans’ strong 2022 performance squarely at the feet of New York state Democratic Party chair Jay Jacobs. As a first-time congressional candidate facing a Democratic funding juggernaut, Pilip was outmatched by Suozzi at the debate and in field operations. After an eventful year and a half of Santos, voters were justifiably afraid of gambling on yet another political newcomer.

Persons: Max Burns, ’, Joe Biden’s, Donald Trump, Max Burns Adrian Letechipia, Republican George Santos, George Santos, Santos, That’s, Tom Suozzi, Mazi Pilip, Pilip, Suozzi, Alejandro Mayorkas, They’ve, ”, Johnson, he’s, Suozzi’s, Biden, Jay Jacobs, Alexandria Ocasio, Cortez, Jacobs, Joe Biden, Pilip couldn’t Organizations: Democratic, Twitter, CNN, Democrats, Republican, Republicans, GOP, Progressive Democrats, Santos ’, Democratic Party, Jay Jacobs . New York Democratic Rep, House, Facebook, Biden Locations: New York, New York’s, Suozzi, waffling, Long Island, Queens, Pilip, Jay Jacobs ., Alexandria, Santos

☆ Winter Storm New York and New England Brace for Powerful Nor’easter
▼ + stars: | 2024-02-13 | by ( Mike Ives | Isabella Kwai | ) www.nytimes.com time to read: +5 min

The wintry mess left both parties racing to rewrite last-minute campaign plans and sophisticated models to understand how the storm might affect turnout. But many Republican voters still prefer to vote on Election Day, and their party is accustomed to closing a gap. The party has won nearly every major election on Long Island since 2021, partly on the strength of its turnout operation. Peter T. King, a former Republican congressman, conceded that the snow could cost his party a couple of percentage points. Still, he predicted that the recently revived Nassau County Republican machine was up to the task.

Persons: Stephanie Keith, Dave Sanders, The New York Times Stephanie Keith, The New York Times Tom Suozzi, Mazi Pilip, George Santos, ” Steve Israel, ”, Biden, Santos, Tom Suozzi, Suozzi, Mazi, “, ” Jay Jacobs, Peter T, King, committeemen, Suozzi’s, haven’t, Mr, Jacobs, Delia DeRiggi, Bruce Blakeman, Blakeman, Ellen Yan Organizations: The New York Times, The New York Times Credit, Democrat, Republican, Queens and, Republicans, Democratic, Mr, Democratic Party, Nassau County Republican, Legislature Locations: Nassau, New York, Queens and Long, New York City, Long, Nassau County, North Shore, Whitton

☆ New York Democrats are worried about Tuesday’s special election. They have good reason to be
▼ + stars: | 2024-02-11 | by ( Gregory Krieg | Veronica Stracqualursi | ) edition.cnn.com time to read: +16 min

But as the special election to succeed the disgraced former congressman has made painfully clear to Democrats, Santos’ victory was not a fluke or anomaly. (Less so 40 years ago, when Republicans ran roughshod here and Ronald Reagan alluded to Nassau County as a Republican’s idea of heaven.) Nassau County in 2024 is sharply divided and – in a word – angry. The year before, Democrat Laura Curran, the top official in Nassau County, was ousted by Republican Bruce Blakeman. But more liberal New York Democrats often point to the current problems as Cuomo’s legacy.

Persons: Republican George Santos ’, Santos ’, –, Tom Suozzi, Ronald Reagan, Joe Biden’s, Donald Trump, ”, Alyssa Cass, “ George Santos, Chuck Schumer, Laura Curran, Republican Bruce Blakeman, Santos, Hakeem Jeffries, “ Hakeem, “, he’s, Jay Jacobs, Jeffries, it’s, ” Jacobs, ” Curran, there’s, ” It’s, Curran, Suozzi, doesn’t, Andrew Cuomo, Jacobs, Cuomo, Kathy Hochul, ’, Mazi Pilip, Peter King, Adam Gray, Tom, Larry Levy, ” Levy, I’m, Joe Cairo, Mazi, it’s …, Mike Florio, Pilip, mailers –, Biden, Greg Abbott, George Santos ’, ” Suozzi, Trump, Alexandria Ocasio, Ilhan Omar, Ayanna Pressley, Rashida, unvetted ”, Roe, Wade, Court’s Dobbs, we’re, it’ll, Jim Fornaro, aren’t, ” Fornaro, “ I’m, bummed, “ Suozzi, Nestor Oginar, Suozzi canvassers Rachel Klein, Stephanie Visconti, ” Klein, ” Visconti, Stephanie Visconti's Organizations: New York CNN, Democrats, Republican, Congressional, Republicans, Democratic, Biden, Trump, GOP, New York Democrats, Democrat, Nassau County Democratic, CNN, Grassroots, New York City Hall, New York Rep, Bloomberg, Getty, National Center for Suburban Studies, Hofstra University, Nassau County Democrats, Democratic Party, Nassau County GOP, New York Post, Long Islanders Builders Institute, Psychiatric, Republican Gov, ICE, George Santos ’ volleyball, Senate, Suozzi, Long, Engage Locations: Plainview, New York, Long, Nassau County, Glen Cove, American, “, Long Island, ”, York, Nassau, Massapequa , New York, Suozzi, Israel, ” Cairo, Pilip, it’s … Montgomery, Bucks, Pennsylvania, Oakland County , Michigan, America’s, New York City, York City, Queens, Texas, Cortez, Macedonian, North Carolina, New Hyde

☆ The early winner in the bitcoin ETF race has raked in $1 billion
▼ + stars: | 2024-01-18 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

As Bernstein analyst Gautam Chhugani highlighted in a note to clients Thursday, BlackRock's iShares Bitcoin Trust (IBIT) has been an early winner among the spot bitcoin ETFs that were approved last week. However, the fund has seen about $1 billion in net outflows over the past week, according to FactSet. Even with the GBTC outflows, the spot bitcoin funds have still seen hundreds of millions of net inflows, according to FactSet. "GBTC at 150 bps fee vs. ~20bps fee for rest, would mean cheaper ETFs will continue to absorb GBTC outflows. In that context, $900m of net inflows remains impressive," Bernstein's Chhugani said in a note.

Persons: Bernstein, Gautam Chhugani, BlackRock's, Jay Jacobs, GBTC, Bernstein's Chhugani Organizations: IBIT, Fidelity Wise Locations: U.S, BlackRock

☆ Ever wondered how members of Congress cash in after they retire? Look no further than Tom Suozzi's financial disclosures
▼ + stars: | 2024-01-16 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +6 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewWhen members of Congress leave their jobs, many of them become even wealthier than they were before. The former congressman was also paid a $35,000 salary by Hercules Pharmaceuticals, a drug distributor based in the district. As a member of Congress, Suozzi faced scrutiny from congressional investigators for failing to disclose stock transactions on time. AdvertisementAdditionally, Pilip reported owing between $100,000 and $250,000 to the IRS, which her amended disclosure says has now been fully paid off.

Persons: —, Daniel Schuman, Tom Suozzi, George Santos, Mazi, Suozzi, Tom, Richard Leeds, Jay Jacobs, Pilip, Santos, Kathy Hochul, Schuman Organizations: Service, Business, Capitol, POPVOX Foundation, Long Island Democrat, New York's, Republican, Capitol Hill, Suozzi Consulting, Global Industrial, Hercules Pharmaceuticals, New York Democratic, The New York Times, Times, Intelligence Technology Solutions, Gov, BI Locations: New York, Bitcoin Pilip, Nassau County, Bitcoin

☆ Republicans have a better chance at winning George Santos' old House seat than you might think
▼ + stars: | 2023-12-02 | by ( John L. Dorman | ) www.businessinsider.com time to read: +7 min

But Republicans are thriving on Long Island, and they could win the upcoming special election. AdvertisementRepublican Anne Donnelly won the Nassau County district attorney's race in 2021. Republicans actually have a benchRepublicans in recent years have begun to claw back power across Long Island. Joe Cairo, the chairman of the Nassau County Republican Committee, is currently interviewing roughly 22 individuals for the seat. But Republicans can't be discounted in the district given the current political shifts on Long Island.

Persons: George Santos, —, Trump, Joe Biden, they've, Santos, Kathy Hochul, Lee Zeldin, Nick LaLota, Anthony D'Esposito, Andrew Garbarino, Republican Anne Donnelly, Mary Altaffer Zeldin, Robert Zimmerman, Bruce Blakeman, Laura Curran, Sen, Todd Kaminsky, Republican Ed Romaine, Alex Brandon, Joe Cairo, Mazi Melesa, Elaine Phillips, Jack Martins, Mike Sapraicone, Kellen Curry, Tom Suozzi, Hochul, Suozzi, Hakeem Jeffries, Jay Jacobs, Anna Kaplan Organizations: New, Congressional, Service, Republicans, Republican, Gov, Democrat, Republican Long, Hochul, GOP, AP, Democratic, NYPD, Nassau, Nassau County Republican, Air Force, Long Islanders, The New York Times, Nassau County Democratic Party Locations: Long, North Shore, Queens, United States, Nassau, Suffolk, Nassau County, New York State, Mazi Melesa Pilip, New York City, Santos, Glen, Brooklyn

☆ NY Democrats to meet tonight to screen potential Santos replacements
▼ + stars: | 2023-12-01 | by ( Brian Schwartz | ) www.cnbc.com time to read: +3 min

Democratic party officials in New York will hold a meeting tonight with at least three potential candidates to replace former GOP Rep. George Santos, who was expelled from the House Friday. Rep. Gregory Meeks, D-N.Y., chairman of the Queens Democratic Party, plans to attend, said Jacobs. County leaders from each party select and internally vote for candidates that will participate in the the special election, according to New York election law. The Queens Democratic Party and a spokeswoman for Meeks did not return emails seeking comment. Suozzi has been in touch with Jacobs before Santos was expelled, pitching himself as that potential selected candidate for a special election contest.

Persons: Representative George Santos, George Santos, Jay Jacobs, Gregory Meeks, Jacobs, Tom Suozzi, Suozzi, Santos, Kathy Hochul, Meeks, Hakeem Jeffries, I've, he's Organizations: Representative, Capitol, Democratic, GOP Rep, Nassau County Democratic Party, CNBC, Queens Democratic Party, Former Democratic, New York Gov, New Locations: Washington , U.S, New York, Nassau, New York's, Queens, Nassau County, D

☆ The race is already on for Santos’ New York seat as Hochul prepares to announce special election date
▼ + stars: | 2023-12-01 | by ( Gregory Krieg | ) edition.cnn.com time to read: +5 min

Voters will not have a say in choosing the nominees; under New York’s special election rules, they will be selected by the county party leaders. The special election in what is now a battleground district is already being discussed as a key bellwether ahead of the November general election. “House Majority PAC plans to play a significant role in the NY-03 special election,” Mike Smith, its president, told CNN. In this case, those people are Jacobs, who also runs the Nassau County Democrats, and Rep. Gregory Meeks, the Queens County Democratic Party chairman. No matter whom Democratic leaders choose to run in the special election, the party will hold a primary for the general election nomination.

Persons: CNN — George Santos, Kathy Hochul, Santos ’, Tom Suozzi’s, Hochul, Suozzi, Mike Deery, ” Mike Smith, “, ” Santos, Santos, “ We’re, ” Deery, Sen, Jack Martins, Mazi Pilip, Kellen Curry, Mike Sapraicone, Jay Jacobs, Jacobs, Gregory Meeks, Hakeem Jeffries, Andrew Cuomo’s, –, ” Jacobs, Tom, Anna Kaplan, ” Organizations: CNN, New, Congressional District, Voters, Democratic Gov, Democrats, Democratic, Republicans, Nassau County GOP, Republican, House Democratic, PAC, GOP House, ”, New York Police Department, Democratic Party, Nassau County Democrats, Queens County Democratic Party, Brooklyn Democrat, Former, Former New York Locations: New York’s, Queens, Nassau counties, Nassau County, NY, New York City, Nassau, New York, Former New, Washington

☆ The winning themes of 2023 could mature and keep climbing next year, BlackRock says
▼ + stars: | 2023-11-15 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +3 min

Investors don't need to abandon the themes that worked in 2023 just because the calendar is about to change, according to BlackRock. Jacobs said that 2023 could prove to be a "year of training" for AI but that the benefits could broaden out going forward. IRBO YTD mountain This broad iShares ETF focused on AI and automation has outperformed the S & P 500 year to date. Mexico stocks, as measured by the iShares Mexico ETF (EWW) , has been a strong performer this year with a total return of 25%, according to FactSet. A competitor fund, the WisdomTree India Earnings Fund (EPI) , has performed better in 2023 with a total return topping 15%.

Persons: Jay Jacobs, Jacobs, IShares, Eli Lilly Organizations: BlackRock, CNBC, Nvidia, Microsoft, Robotics, Intelligence, Technology, Novo Nordisk, Biotechnology, VanEck Pharmaceutical Locations: BlackRock, U.S, United States, Mexico, India

☆ Could Democrats Get Another Shot at Redistricting in New York?
▼ + stars: | 2023-06-08 | by ( Nicholas Fandos | ) www.nytimes.com time to read: +1 min

Whatever happens, New York promises to be perhaps the most contested state in the nation for House races next year. Republicans outperformed expectations in New York during the 2022 midterm elections, leaving their candidates positioned to defend six districts President Biden won in 2020, two by double digits. “We think our chances are good, but it’s not something we are relying on,” said Jay Jacobs, the Democrats’ state party chairman. The court case was proceeding this week as Democrats in Albany used the final days of this year’s legislative session to try to shore up their electoral prospects in other ways. Democratic supermajorities in both legislative chambers appeared poised to adopt changes weakening New York’s new publicly financed donor-matching program in ways that would benefit incumbents.

Persons: Biden, ”, Jay Jacobs, Wasserman Organizations: House, Republicans, Democratic supermajorities Locations: New York, Albany

☆ These are the best ETFs to ride the A.I. trend
▼ + stars: | 2023-05-25 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

The ARK Autonomous Technology & Robotics ETF (ARKQ) , on the other hand, had Nvidia as its ninth-largest position, with its stake in Tesla four-times larger as of Wednesday's close. There will likely be more AI ETFs hitting the market in coming months to meet the trend. Some small new funds include the Roundhill Generative AI & Technology ETF (CHAT) , which launched last week, and the VanEck Robotics ETF (IBOT) , which launched in April. Other places to look Another tactic for investors could be to look for actively managed growth funds, which will be looking for ways to play the AI boom. To bet on AI without doubling down on megacap tech, investors could look for other thematic plays that could benefit from the new technology.

Persons: Jay Jacobs Organizations: Nvidia, Microsoft, Global, Robotics, Intelligence, Autonomous Technology & Robotics, Technology, VanEck Robotics, Blackrock, CNBC Locations: U.S

☆ He Calls the Shots for New York’s Governor. He Lives in Colorado.
▼ + stars: | 2023-04-26 | by ( Nicholas Fandos | Jeffery C. Mays | ) www.nytimes.com time to read: +1 min

But Mr. Sullivan often insisted that crime was a losing issue for Ms. Hochul. Mr. Sullivan declined to comment on campaign strategy. He and Ms. Hochul have stood by its chairman, Jay Jacobs, who has become a punching bag for Democrats, especially on the left. Mr. Sullivan’s allies say he and Ms. Hochul want to strengthen the party, but they could only describe vague plans. “I don’t think he has any agenda other than the governor being successful.”Susan C. Beachy contributed research.

☆ George Santos has a possible challenger, as ex-Democratic Rep. Tom Suozzi considers a run for his old seat
▼ + stars: | 2023-04-13 | by ( Brian Schwartz | ) www.cnbc.com time to read: +4 min

Rep. Tom Suozzi, D-N.Y., left, and George Santos, (R-NY) conducts a news conference to advocate for inclusion of the state and local tax (SALT) deduction in the Build Back Better Act reconciliation bill, outside the U.S. Capitol on Wednesday, December 8, 2021. (Photo By Tom Williams/CQ-Roll Call, Inc via Getty Images)Former Democratic Rep. Tom Suozzi of New York is telling political leaders and wealthy donors that he is considering running for his old seat held by embattled Republican Rep. George Santos, according to people with direct knowledge of the matter. Suozzi defeated Santos during his last run for Congress in 2020. He has name recognition and is a prolific fundraiser, which could make him a frontrunner in a Democratic primary for Santos' seat. Democratic businessman Robert Zimmerman, who lost to Santos in 2022, has not ruled out running again for the seat.

☆ A stock trader who made $8 million in 2 years shares how he's betting on AI stocks and the strategy he's using to trade hot themes this year
▼ + stars: | 2023-04-02 | by ( Laila Maidan | ) www.businessinsider.com time to read: +9 min

The experience is similar to trading stocks related to bitcoin during 2017 and 2018's crypto bull run. The hype brings with it a lot of trading opportunities for long and short positions because AI stocks get overbought. For AI stocks, he believes C3.ai (AI) is the head. He's expecting another rally for the sector this year or next, which could send AI stocks to new higher levels. "I'll just explain it as, my mom is not texting me asking me about AI stocks.

☆ The A.I. boom could also give a boost to these investing trends. How to play it
▼ + stars: | 2023-03-26 | by ( Jesse Pound | ) www.cnbc.com time to read: +3 min

The recent boom in AI has driven up some of the biggest tech stocks on the market, including Microsoft , Alphabet and chip maker Nvidia . "Anywhere where there's data, AI is going to be useful," Jacobs said. We've actually seen a massive price deflation in genetic testing," Jacobs said. AI can help these companies improve at recognizing patterns and trends for hackers in order to strengthen defenses, Jacobs said. The biggest competitors include the ETFMG Prime Cyber Security ETF (HACK) and Global X Cybersecurity ETF (BUG) .

☆ These 74 stocks across 5 categories of AI are the top picks from the sector's leading fund managers.
▼ + stars: | 2023-03-18 | by ( Laila Maidan | ) www.businessinsider.com time to read: +11 min

These 74 stocks are picked by AI ETF managers. What she believes is unique about her fund is its heavy focus on quantum computing technology, making up 41.22% of the fund. While big data is used for different technologies, it enables AI to work with massive data sets in its machine-learning process. TipRanks, a financial technology website that uses AI to analyze financial data, created a stock list for what they deem are the best AI stocks based on popularity. TipRanks' list of nine of the best AI stocks have large market caps and are likely to remain relevant for a long time.

☆ The AI craze has sent some stocks soaring up to 300%. This list of over 74 stocks across 5 categories features the top picks from the sector's leading fund managers.
▼ + stars: | 2023-02-08 | by ( Laila Maidan | ) www.businessinsider.com time to read: +11 min

☆ What's next after a brutal year for tech? Market watchers share their views — and top stock picks
▼ + stars: | 2022-12-26 | by ( Zavier Ong | ) www.cnbc.com time to read: +7 min

If you invested in tech stocks in 2022, chances are you're sitting on a loss right now. As they head into 2023, investors could be forgiven for thinking that the worst of the tech rout is over. Big Tech is 'not dead' Michael Yoshikami, founder and CEO of Destination Wealth Management, said Big Tech is "not dead," though it will take time to recover. Goldman Sachs and Citi also see pockets of opportunities within Big Tech, with both naming Amazon and Meta Platforms as their top picks for 2023. The sector has traditionally been viewed as a growth sector, but some analysts say tech stocks are now value stocks instead.

Democrats could have prevailed had their state party — which was busy deflecting progressive criticism of their conduct — marshaled better infrastructure and financial support for swing-district candidates. The icing on this rotten cake is that New York Democrats have no one to blame but themselves. Facing challenging new maps, Maloney and his moderate allies panicked that many of the popular progressives who had already announced their candidacies simply could not win. In a moment of exceptional self-unawareness that only underscored the broader myopia of establishment New York Democrats, Maloney took the news of his loss Tuesday as an opportunity to swipe at Ocasio-Cortez. Seth Wenig / AP fileBetween interparty bad blood and challenging electoral maps, the Democratic Party machine also appeared uninterested or unable to translate Democratic enthusiasm into meaningful on-the-ground organizing.

☆ Tech stocks have been crushed. What’s next for the FAANGs?
▼ + stars: | 2022-11-14 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +4 min

New York CNN Business —The great bull run for tech stocks may finally be over. The tech sector has been a market leader for years, but there are growing concerns about the future. Todd Sohn, director and technical strategist at Strategas, noted in a report late last week that when tech stocks imploded in 2000 as the dot-com bubble burst, it wasn’t until after the 2008 financial crisis before tech resumed a role as a market leader. But cybersecurity stocks such as Palo Alto Networks (PANW), as well as semiconductors, are more reasonable. In other words, tech investors should be looking tor more boring parts of the sector, not assets like crypto that are more about hype than substance.

☆ BlackRock says it could be time to buy some growth and tech — Top ETFs to play the trade
▼ + stars: | 2022-11-14 | by ( Patti Domm | In | ) www.cnbc.com time to read: +4 min

BlackRock strategists recommend investors dip back into growth and tech for next year, but they say picking selective themes will be the best way to play them. BlackRock strategists say 2023 could be the year that changes the three-year pattern of growth and tech stocks moving in unison, both higher and lower. ETFs that fit these themes include BlackRock's iShares Self-Driving EV and Tech ETF , the iShares Global Clean Energy ETF , and iShares U.S. Infrastructure ETF. There is the iShares Cybersecurity and Tech ETF , IHAK and IRBO, the iShares Robotics and Artificial Intelligence Multisector ETF. BlackRock Future Health ETF, i Shares Genomics and Immunology and Healthcare ETF, and iShares Neuroscience and Healthcare ETF cover those themes.

☆ Wall Street's rising stars admit their biggest career mistakes — from missing out on lucrative bets to taking too much on — and what they learned from them
▼ + stars: | 2022-10-24 | by ( Alex Morrell | Alyson Velati | Asia Martin | ) www.businessinsider.com time to read: +17 min

Vinay Trivedi, a vice president at General Atlantic focusing on the technology sector. I don't think we necessarily transitioned fast enough to how people learn if we're only doing audio from home. - David Israel, 27, vice president at Credit SuisseAngel Pu Shum is a principal within Warburg Pincus's technology group. -Allison Boxer, 29, senior vice president and economist at PIMCONoah Zerance, a vice president with Bank of America's global sustainable-finance group. and the response would be, 'Well, we don't know how we do it yet.

☆ There's renewed hope in the possibility that global central banks are nearing the end of their rate hike cycle. Here's how that's driving markets.
▼ + stars: | 2022-10-05 | by ( Hallam Bullock | ) www.businessinsider.com time to read: +6 min

Central bank moves and softer economic data have investors hoping that the Fed and other central banks are almost done hiking interest rates. There's some renewed hope for a Fed pivot on the horizon. Australia's central bank surprised forecasters by raising interest rates by a less-than-expected 25 basis points, becoming the first central bank to abandon its path of jumbo rate hikes. Fewer job openings mean employers aren't compelled to offer more competitive wages. Number of job openings Chart: Andy Kiersz and Madison Hoff Source: Bureau of Labor Statistics via FRED10.

☆ Reverse Currency War: Why central banks are trying to play catch-up with a record dollar and a hawkish Fed
▼ + stars: | 2022-09-28 | by ( Phil Rosen | ) www.businessinsider.com time to read: +7 min

A reverse currency war is underway, with central banks around the world struggling to keep pace with an aggressive Fed and a soaring dollar that's climbing like it's got somewhere better to be. Rather than trying to devalue currencies like in traditional "currency wars," policymakers are doing the reverse in trying to engineer gains. The thinking behind a reverse currency war goes something like this: Central banks want to make their currencies stronger — via monetary policy tightening — so that the US dollar doesn't leave them in the dust. And with central banks focused on monetary tightening, these reverse currency wars raise the odds of a widespread economic downturn. Last week's rate-hike blitz showed that central banks will trigger a downturn, the asset manager said.

Search resuls for: "Jay Jacobs"

25 mentions found