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☆ US-Russia collaboration has long endured in space. The Ukraine war could ruin it.
▼ + stars: | 2024-04-16 | by ( Tom Porter | Mikhaila Friel | ) www.businessinsider.com time to read: +10 min

The International Space Station has long been a symbol of international cooperation. AdvertisementSince the end of the Cold War, the International Space Station (ISS) has been a symbol of international cooperation. By 1988, 15 nations had agreed to participate in the project, then known as Space Station Freedom. Keystone/Hulton Archive/Getty ImagesThe Soviets had long-standing expertise in aerospace technology, having launched the world's first space station, "Salyut," in 1971. China has completed several unmanned Moon landings, has its own space station, and has developed a sophisticated commercial and military satellite program.

Persons: —, Peggy Whitson, Vladimir Putin, Jill Stuart, Ronald Reagan, Bill Clinton, Terry Virts, Anton Shkaplerov, Marco Tacca, Oleg Artemyev, Denis Matveev, Sergey Korsakov, Virts, Michael Barratt, Matthew Dominick, Alexander Grebenkin, Jeanette Epps, Stuart, Verts, Musk Organizations: Astronauts, Service, Space, Veteran, ISS, Imperial College London, Politics, NASA, European Space Agency, ESA, Inter, Soyuz, Keystone, Hulton, Roscosmos, Reuters, Anadolu, Getty, Imperial College, Baikonur Cosmodrome, Elon Musk's SpaceX, The Independent, CNBC Locations: Russia, Ukraine, Europe, China, Japan, loggerheads, Hollywood, Canada, Soviet Union, Milan, Italy, Luhansk, Luhansk People's Republic, Russian, Baikonur, Kazakhstan, The, Soviet Russia

☆ Stock futures are little changed after Dow's second straight losing day in new quarter: Live updates
▼ + stars: | 2024-04-02 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

U.S. stock futures were little changed Tuesday night after the Dow Jones Industrial Average fell for a second day in a rough start to the quarter. S&P 500 futures were lower by 0.02%, while the Nasdaq 100 futures dipped 0.02%. The S&P 500 lost 0.7%, while the Nasdaq Composite tumbled nearly 1%. The S&P 500 is coming off its best first quarter since 2019. "We've heard day after day that we're either touching all-time highs or within reach of all-time highs.

Persons: Dow, Kristen, We've, Jerome Powell, Michelle Bowman, Adriana Kugler, Austan Goolsbee, Michael Barr, Levi Strauss Organizations: New York Stock Exchange, Dow Jones, Dow, Federal Reserve, Treasury, Nasdaq, Citi, Federal, Fed, Chicago Fed

☆ THEN AND NOW: The cast of 'Zoey 101' 16 years later
▼ + stars: | 2024-03-29 | by ( Olivia Singh | ) www.businessinsider.com time to read: +2 min

Spears reprised her role as Zoey for a movie sequel, "Zoey 102," released on Paramount+ in July 2023. Dana Hawley/Paramount+Many fans speculated that "Zoey 101" ended due to Spears' pregnancy at 16 years old. After her time on Nickelodeon, Spears switched her focus to singing, much like her older sister Britney Spears. In July 2020, the "Zoey 101" cast reunited for a sketch as part of the Nickelodeon show "All That." The "Zoey 101" film sequel, titled "Zoey 102," was released in summer 2023, and followed Zoey and her friends as they reunited for Quinn and Logan's wedding.

Persons: Spears, Zoey, Jamie Lynn Spears, Zoey Brooks, Dana Hawley, didn't, Casey Aldridge, Maddie Briann, Aldridge, Jamie Watson, Ivey Joan, Britney Spears, Britney, Quinn, Erin Sanders, Quinn Pensky, Sean Flynn, Chase Matthews, Matthew Underwood, Logan Reese, Christopher Massey, Michael Barrett, Abby Wilde, Stacey Dillsen, Jack Salvatore, Mark Del Figgalo, She's, Woods Organizations: Paramount, Nickelodeon, Grand Ole Opry, Radio Disney, Netflix Locations: Louisiana

☆ Everything former Nickelodeon stars have said in response to the docuseries 'Quiet on Set'
▼ + stars: | 2024-03-29 | by ( Olivia Singh | ) www.businessinsider.com time to read: +23 min

Former Nickelodeon stars are speaking out after Investigation Discovery's docuseries "Quiet on Set." AdvertisementInvestigation Discovery's docuseries "Quiet on Set: The Dark Side of Kids TV" has cast a shadow over Nickelodeon's legacy in children's TV. AdvertisementIn the meantime, here's everything former Nickelodeon stars have said since the release of "Quiet on Set." After coming forward about being sexually abused as a teen, Drake Bell called Nickelodeon's response 'empty'Drake Bell in episode two of the Investigation Discovery docuseries "Quiet on Set: The Dark Side of Kids TV." Josh Peck said that he contacted his 'Drake & Josh' costar Drake Bell privately to offer his supportJosh Peck and Drake Bell on season four of "Drake & Josh."

Persons: Discovery's, Drake Bell, Alexa Nikolas, —, Dan Schneider, Kate Taylor, Schneider, he'd, Nicole Bristow, Nikolas, Dan, doesn't, it's, Bell, Brian Peck, Sarah Fraser, Nickelodeon's, Peck, Tom DeSanto's, Drake, DeSanto, Josh, Josh Peck, Beth, Rich Correll, Raquel Lee Bolleau, Bolleau, Devon Werkheiser, Lindsey Shaw, Daniel Curtis Lee, Frazer Harrison, costars Lindsey Shaw, Werkheiser, Daniel, Zoey, Jack Salvatore, Mark Del Figgalo, Nickelodeon Salvatore, Sam, Salvatore, Jennette McCurdy, BooG, Bobby Bowman, Nancy Sullivan, Miranda Cosgrove, Jonathan Goldstein, WireImage Sullivan, Audrey Parker, Nichols, Sullivan, Bryan Hearne, Hearne, Tracey Brown, Madisyn Shipman, Shipman, Abby Wilde, Stacey Dillsen, They're, who's, Chris Massey, Michael, …, Massey, Michael Barret, Angel Massey, @chrismasseytmb, DAN, Allie DiMeco, DiMeco, Rosalina, Leon Frierson, Dan Schneider's, Frierson, I'm, Amber Frank, Frank, Kenan Thompson, Christopher Polk, Thompson, Kenan, Kel, I've, that's Organizations: Nickelodeon, Service, Business, YouTube, Eat, Kids, Disney Channel, Entertainment, Getty Locations: Hollywood

The SpaceX logo is shown on a Falcon 9 rocket as it is prepared for launch to carry NASA's SpaceX Crew-8 astronauts Matthew Dominick, Michael Barratt, and Jeanette Epps, and Roscosmos cosmonaut Alexander Grebenkin to the International Space Station at the Kennedy Space Center, in Cape Canaveral, Florida, U.S., March 2, 2024. The National Labor Relations Board accused SpaceX in a new complaint of entering into unlawful severance agreements with terminated employees nationwide. The unfair labor practices complaint comes two months after SpaceX filed a federal lawsuit challenging the legality of the NLRB's oversight authority, and after the federal agency in a separate complaint accused the company of illegally firing eight workers who had criticized its CEO Elon Musk in an open letter. The new NLRB complaint claims that SpaceX included unlawful confidentiality and non-disparagement clauses in severance agreements and that it unlawfully limited the terminated workers' ability to participate in other claims against the company. It also alleges that the rocket maker and satellite internet company maintained an unlawful rule that required workers — as a condition of their employment — to sign an agreement for arbitration and dispute resolution, and to waive their right to receive money in class-action lawsuits against the company.

Persons: Matthew Dominick, Michael Barratt, Jeanette Epps, Alexander Grebenkin, SpaceX, Elon Musk Organizations: SpaceX, International, Kennedy Space Center, National Labor Relations Board, Company Locations: Cape Canaveral , Florida, U.S

☆ These 28 regional and community banks exceed regulators' threshold for high commercial real estate concentration risk: here's what's really at stake.
▼ + stars: | 2024-03-09 | by ( Laila Maidan | ) www.businessinsider.com time to read: +12 min

But where banks' exposure to commercial real estate is concerned, locating that fire may be difficult. Rising interest rates quickly increased the cost of borrowing for investors in commercial real estate, including offices and multifamily homes. It doesn't reveal details such as borrowers' track records, said Mark Hillis, a former chief risk officer for commercial real estate at JPMorgan. There's also varying concentration risk: the largest banks with commercial real estate exposure are more diversified, meaning that any losses won't be as devastating, Baker said. "We think very few banks will run into issues just from their commercial real estate exposure," Reidy said.

Persons: Michael Barr, Jerome Powell, Todd Baker, Mark Hillis, Clifford Rossi, Robert H, Rossi, Baker, There's, Hillis, multifamily, haven't, You'll, Banks, you'll, Rebel Cole, NYCB, Matt Reidy, Reidy, Cole Organizations: Federal Reserve, Business, York Community Bank, SEC, Richman Center for Business, Law, Columbia University, JPMorgan, Smith, Smith School of Business, University of Maryland, Mortgage Banker's Association, Bank, Signature Bank, First, Countrywide Bank, Washington Mutual, Citigroup, multifamily, Florida Atlantic University, Federal, Regulators, TCRE, Equity RCRE, Community Bank, Provident Bank NJ, Merchants Bank of Indiana, Apple Bank for Savings, Oceanfirst Bank, Independent Bank, Lakeland Bank NJ, Ozk, Washington Federal Bank WA, Axos Bank, Sandy Spring Bank, Columbia Bank NJ, Farmers, Merchants Bank of CA, Popular Bank, Pacific Premier Bank, United Bank, Trust, Rockland Trust, Umpqua Bank, ServisFirst Bank, Bell Bank, Stellar Bank, National Bank of, National Bank of Florida FL, New York Community Bank Locations: multifamily, Basel, CRE, California, Rockland, National Bank of Florida

CAPE CANAVERAL, Fla. (AP) — Four astronauts headed to the International Space Station on Sunday where they will oversee the arrivals of two new rocketships during their half-year stint. SpaceX’s Falcon rocket blasted off from Kennedy Space Center, carrying NASA’s Matthew Dominick, Michael Barratt and Jeanette Epps and Russia’s Alexander Grebenkin. “When are you getting here already?” space station commander Andreas Mogensen asked via X, formerly Twitter, after three days of delay due to high wind. Epps should have launched to the space station on a Russian rocket in 2018, but was replaced for reasons never publicly disclosed. Flight controllers are monitoring a growing cabin leak on Russia’s side of the space station.

Persons: Matthew Dominick, Michael Barratt, Jeanette Epps, Russia’s Alexander Grebenkin, “, Andreas Mogensen, Epps, Billy Joel, Dominick, Barratt, ” Barratt, Joel Montalbano Organizations: International, Kennedy Space Center, SpaceX, NASA, Sierra, Ford Motor Co, CIA, Navy, Associated Press Health, Science Department, Howard Hughes Medical Institute’s Science, Educational Media Group, AP Locations: CAPE CANAVERAL, Fla, U.S, Denmark, Japan, Russia, New York, Syracuse, N.Y, Russian

☆ A bigger pool of American workers could continue to slow inflation even further
▼ + stars: | 2024-03-03 | by ( Bryan Mena | ) edition.cnn.com time to read: +7 min

Now, as the Federal Reserve faces the final stretch of its historic inflation battle, a bigger pool of workers could slow inflation even further. That then begs the question: How much more can better labor supply slow inflation? The US Labor Department releases January figures on job openings, quits, hires and layoffs. The US Labor Department reports the number of new applications for jobless benefits in the week ended March 2. China’s National Bureau of Statistics releases February inflation data.

Persons: Mary Daly, “, ” Sarah House, Michael Gapen, That’s, Jack Bantock, ’, ”, Richard Felton, Thomas, ’ ”, Patrick Harker, Ross, Nordstrom, Michael Barr, Campbell Soup, Foot, Jerome Powell, Loretta Mester Organizations: DC CNN, Federal Reserve, San Francisco Fed, National Association for Business Economics, Labor, CNN, Bank of America, White House’s Council, Economic Advisers, English Premier League, Chelsea, Burnley, Philadelphia Fed, Target, P Global, Institute for Supply Management, US Commerce Department, Abercrombie, Fitch, Financial Services, The Bank of Canada, US Labor Department, Broadcom, Costco, Eagle Outfitters, Potbelly, Banking, Housing, Urban Affairs, European Central Bank, Cleveland Fed, National Bureau of Statistics Locations: Washington, San, Wells, United States, London, JD.com, Kroger, Burlington, DocuSign

☆ Americans have racked up a trillion dollars in credit card debt. That’s actually okay
▼ + stars: | 2024-02-25 | by ( Bryan Mena | ) edition.cnn.com time to read: +8 min

Washington, DC CNN —Americans racked up a record amount of credit card debt in 2023, soaring past a trillion dollars. “Consumers still have a lot of money left over to be able to spend, so the credit card data is often misinterpreted,” Russell Price, chief economist at Ameriprise Financial, told CNN. According to a LendingTree analysis of more than 350,000 credit reports, the average unpaid credit card balance was $6,864 in the fourth quarter. Overall, US household debt (including credit card balances) rose to a new high of $17.5 trillion in the fourth quarter, up 1.2% from the prior three-month period. So, while there certainly isn’t a shortage of economic hurdles bedeviling people’s budget — and credit card debt has surged — the big picture indicates that, so far, Americans (and their economy) remain healthy.

Persons: ” Russell Price, Price, haven’t, market’s, ” Gregory Daco, ” Lara Rhame, Laura, Jensen Huang, Christine Lagarde, Virgin, Michael Barr, Raphael Bostic, Susan Collins, John Williams, Papa, Austan Goolsbee, Loretta Mester, fuboTV, Christopher Waller, Mary Daly, Adriana Kugler Organizations: CNN Business, Bell, DC CNN, Workers, New York Fed, Consumers, Ameriprise, CNN, Federal Reserve Bank of New, . New York Fed, Employers, Soaring, FS Investments, Nvidia, Huawei, AMD, Microsoft, Broadcom, US Commerce Department, Central Bank, eBay, Smucker, Urban Outfitters, Global, Board, TJX, Monster Beverage, Baidu, HP, Paramount Global, Anheuser, Busch Inbev, Dell Technologies, Papa John’s, US Labor Department, National Association of Realtors, P, China’s National Bureau, Statistics, Pearson, P Global, Institute for Supply Management, University of Michigan Locations: Washington, Federal Reserve Bank of New York, ., EY, Santa Clara, Singapore, Shenzhen, China, Beijing, CAVA

☆ Morning Bid: Treasuries gobbled up, oil braces for OPEC
▼ + stars: | 2023-11-28 | by ( ) www.reuters.com time to read: +5 min

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., November 17, 2023. Benchmark Treasury yields fell back more than 10 basis points to 4.37% after a total of $109 billion of 2 and 5-year notes hit the Street on Monday without much disruption. Another weak U.S. housing readout, with sub-forecast new home sales last month, perhaps flattered the post-auction moves. That's likely a mixed blessing for Federal Reserve watchers - the continued buoyancy of consumption but with increasing price discrimination. Fed futures priced about 85bps of rate cuts through next year, starting in June, though many major banks expect even more.

Persons: Brendan McDermid, Mike Dolan, That's, Hong, Louis, Christopher Waller, Michelle Bowman, Michael Barr, Austan Goolsbee, Christine Lagarde, Philip Lane, Dave Ramsden, BoE, Jonathan Haskel, Hewlett Packard, Ed Osmond Organizations: New York Stock Exchange, REUTERS, Treasuries, Treasury, Adobe Digital, Federal Reserve, Louis Fed, U.S . Treasury, Richmond Fed, Dallas Fed, . Treasury, Chicago Fed, European Central Bank, ECB, Bank of England, Citi Trends, Fluence Energy, Reuters, Reuters Graphics Reuters, Thomson Locations: New York City, U.S, Asia, Europe, United States, China, New York, St, Uxin, Canaan, Elbit

☆ US stocks trade mixed as investors hit pause on November rally ahead of Fed comments
▼ + stars: | 2023-11-28 | by ( Phil Rosen | ) www.businessinsider.com time to read: +1 min

Stocks traded mixed on Tuesday as investors slowed down on the November rally. 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 . AdvertisementUS stocks traded mixed on Tuesday as investors pulled back on the November rally ahead of remarks from a cadre of Federal Reserve officials. Policymakers on the docket today include Fed Governors Christopher Waller, Michelle Bowman, and Michael Barr, as well as Chicago Fed President Austan Goolsbee.

Persons: Stocks, —, Christopher Waller, Michelle Bowman, Michael Barr, Austan Goolsbee, Goldman Sachs Organizations: Traders, Federal Reserve, Service, Fed, Chicago Fed, Bank of America, RBC Capital Markets, Here's, Dow Jones

These deals help banks meet capital requirements more efficiently, allowing them to keep lucrative businesses that would otherwise become unprofitable. Investors in these deals include lightly-regulated entities like hedge funds, shifting risk to the shadow banking sector. Credit risk transfer is another tool for them to pursue after the Fed’s clarification on what is allowed, said Cory Wishengrad, head of fixed income at Guggenheim Securities. That means Merchants sold the riskiest tranche of the loan portfolio, maximizing the capital relief it could get on it. Whether U.S. regulators will allow such insurance deals to qualify for capital relief is still untested, Staudinger said.

Persons: Morgan Stanley, Blackstone, Jill Cetina, Jon, Claude Zucconi, Zucconi, Michael Barr, Barr, Banks, Missy Dolski, Sam Graziano, Graziano, Cory Wishengrad, Jed Miller, Taft, Morgan Stanley's, Morgan, Deborah Staudinger, Hogan Lovells, Staudinger, Shankar Ramakrishnan, Paritosh Bansal, Nick Zieminski Organizations: Blackstone Group, JPMorgan Chase, Merchants Bank of Indiana, US Bancorp, Investors, JPMorgan, Merchants Bank, Federal Reserve, Varde Partners, Financial, Guggenheim Securities, U.S . Bank, Fed, Reuters, Merchants, Thomson Locations: U.S, Wickersham, Europe, Indiana

COLUMBUS, Ohio (AP) — Ohio’s new constitutional projections for abortion access and other reproductive rights are supposed to take effect Dec. 7, a month after voters resoundingly passed them. It was the seventh straight victory in statewide votes for supporters of abortion access nationally since the U.S. Supreme Court overturned constitutional protections. At least three other Ohio abortion laws also have been on hold in the courts. “The (Ohio) Constitution specifically says reigning in out-of-control courts is the legislators' job," the anti-abortion group Faith2Action argues in a recently released video. “That means that many Ohio laws would probably be invalidated ... and others might be at risk to varying degrees,” he wrote.

Persons: —, resoundingly, ”, Laura Hermer, We’re, Beth Liston, Allison Russo, Sharon Kennedy, Michael Barrett, Faith2Action, Roe, Wade, Brett Kavanaugh, Donald Trump, Kavanaugh, Jason Stephens, Matt Huffman, Dave Yost, Yost, “, Hermer Organizations: Supreme, Republican, Mitchell Hamline School of Law, Republicans, Ohio, Ohio House, ”, District, GOP, U.S, Constitution, Republican Ohio Locations: COLUMBUS , Ohio, U.S, Ohio, St, Paul , Minnesota, U.S ., Roe

The S&P 500 (.SPX), the Nasdaq (.IXIC) and the Dow (.DJI) registered their third straight week of gains. For the week, the S&P 500 added 2.2% while the Nasdaq composite rose 2.4% and the Dow climbed 1.9%. Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., November 15, 2023. REUTERS/Brendan McDermid Acquire Licensing RightsEnergy, finishing up 2.1%, was the biggest percentage gainer among the 11 major S&P 500 sectors as oil prices settled up more than 4%. The S&P 500 posted 18 new 52-week highs and 1 new lows; the Nasdaq Composite recorded 55 new highs and 97 new lows.

Persons: Michael Barr, Mary Daly, Susan Collins, Robert Phipps, Per Stirling's Phipps, Dow, Jack McIntyre, Brendan McDermid, Russell, Rick Wilmer, Sinéad Carew, Shristi, Maju Samuel, Pooja Desai, David Gregorio Our Organizations: Dow, Nasdaq, Federal, San Francisco Fed, Boston Fed, Applied Materials, U.S . Justice, Stirling, Dow Jones, Brandywine Global, Traders, New York Stock Exchange, REUTERS, Rights Energy, Technology, Microsoft, Ross Stores, Old Navy, ChargePoint Holdings, NYSE, Thomson Locations: U.S, China, Austin Texas, Philadelphia, New York City, New York, Bengaluru

REUTERS/Evelyn Hockstein Acquire Licensing RightsNEW YORK, Nov 17 (Reuters) - The Federal Reserve's top bank watchdog defended its push to overhaul capital requirements, saying they would have a minimal impact on borrowing costs and make the industry more stable. Michael Barr, the Fed's vice chair for supervision, told a conference in New York on Friday that the so-called "Basel endgame" proposal is mainly focused on raising capital requirements for activities like trading, rather than lending. "Normally, we issue a proposal and then we get very detailed commentary, and we take those comment letters into account." Banks have loudly complained about the proposal, which overhauls how banks gauge their risk and require them to set aside more capital. Industry executives said the draft rules would force them to raise costs and potentially curb lending.

Persons: Michael Barr, Evelyn Hockstein, Banks, Barr, Pete Schroeder, Lananh Nguyen, Chizu Organizations: Banking, Housing, Urban Affairs Committee, Capitol, REUTERS, Federal, Bank, National Football League, Industry, Thomson Locations: Washington , U.S, New York

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., November 15, 2023. The S&P 500 and the Nasdaq rose for the third straight session on Thursday as Treasury yields fell after higher-than-expected weekly jobless claims underscored market expectations that interest rates have peaked. The communication services index (.SPLRCL) led declines among the 11 major S&P 500 sectors, while energy shares (.SPNY) rose 1.1% as oil prices gained. Advancing issues outnumbered decliners by a 2.72-to-1 ratio on the NYSE and by a 1.88-to-1 ratio on the Nasdaq. Reporting by Shristi Achar A and Amruta Khandekar in Bengaluru; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, Michael Barr, Mary Daly, Daly, Thomas Hayes, Russell, Rick Wilmer, Shristi Achar, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Nasdaq, Federal Reserve, Treasury, Microsoft, Materials, San Francisco Fed, Great, Capital, Dow, Dow Jones, Old Navy, ChargePoint Holdings, NYSE, Thomson Locations: New York City, U.S, Bengaluru

☆ Morning Bid: Treasury yields dive as oil craters, economy softens
▼ + stars: | 2023-11-17 | by ( ) www.reuters.com time to read: +5 min

U.S. two-year Treasury yields skidded below 4.80% on Friday for the first time since September 1, with 10-year yields dropping under 4.40% to September lows too. Crude has now lost almost 25% in just six weeks - aided by the U.S. gradually lifting oil sanctions on Venezuela. The Labor Department said import prices fell a whopping 0.8% in October, the most in seven months amid a broad decline in the costs of goods - deepening the annual deflation of import prices to as much as 2.0%. Even though the dollar (.DXY), , is taking a hit from the plunge in U.S. Treasury yields, the drop in sovereign borrowing rates was mirrored across the world in Europe , even Japan . Mirroring the softening demand picture elsewhere, British retail sales volumes fell unexpectedly in October as stretched consumers stayed at home.

Persons: Lucas Jackson, Mike Dolan, plumb, Morgan, Susan Collins, Mary Daly, Austan Goolsbee, Michael Barr, Dave Ramsden, Nick Macfie Organizations: New York Stock Exchange, REUTERS, Walmart, Cisco, Alibaba, Philadelphia Federal Reserve, Labor Department, Treasury, Hong, Housing, Atlanta, Boston Federal, San Francisco Fed, Chicago Fed, Bank of England, United States, APEC, Graphics, Thomson, Reuters Locations: New York, U.S, Wall, Alibaba ., Venezuela, Europe, Japan, HK, Hong Kong, China, San Francisco

☆ Morning Bid: Ebbing oil sustains economic glow
▼ + stars: | 2023-11-16 | by ( ) www.reuters.com time to read: +6 min

Word "Oil" and stock graph are seen through magnifier displayed in this illustration taken September 4, 2022. That drop, which takes annual producer price inflation as low as 1.3%, was driven largely by falling gasoline prices. And that meets news that China's oil refinery throughput fell back in October as industrial fuel demand weakened. The overall energy and inflation picture is helping buoy consumption and stokes the 'soft landing' narrative investors are betting on. The picture in overseas markets, where the economic picture is cloudier, was more mixed.

Persons: magnifier, Dado Ruvic, Mike Dolan, stokes, Mary Daly, Joe Biden, Xi Jinping, Xi, Biden, Washington, Christopher Waller, Lisa Cook, John Williams, Michael Barr, Loretta Mester, Christine Lagarde, Luis de Guindos, Andrea Enria, Dave Ramsden, Andres Manuel Lopez Obrador, Alexander Smith Organizations: REUTERS, U.S . Energy Information Administration, Walmart, Federal, San Francisco Fed, Treasury, U.S . Senate, Philadelphia Fed, Kansas City Fed, Applied, Ross Stores, Federal Reserve, Lisa Cook , New York Fed, Cleveland Fed, European Central Bank, Bank of England, New York Federal Reserve, Insider Intelligence, Reuters Graphics, Thomson, Reuters Locations: U.S, United States, China . U.S, Target, San Francisco, Taiwan, China, Kansas, Treasuries, Lisa Cook , New, Franciso, Reuters Graphics China

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., October 26, 2023. Shares of Cisco Systems (CSCO.O) shed 11.5% as the communications and networking firm cut its full-year revenue and profit forecasts on slowing demand for its networking equipment. However, regional (Fed) authorities have very diverse opinions and (it) confuses investors," said Peter Andersen, founder of Andersen Capital Management in Boston. However, Andersen said he is still optimistic about the possibility of a soft landing for the economy and a year-end rally. Declining issues outnumbered advancers for a 1.02-to-1 ratio on the NYSE and for a 1.45-to-1 ratio on the Nasdaq.

Persons: Brendan McDermid, Peter Andersen, Andersen, Michael Barr, Li Auto, Joe Biden, Xi Jinping, advancers, Shristi Achar, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Cisco, Dow, Nasdaq, Walmart, Cisco Systems, Target, U.S . Federal, Andersen Capital Management, Treasury, Labor, Dow Jones, Palo Alto Networks, Baidu, U.S, NYSE, Thomson Locations: New York City, U.S, Boston, billings, Bengaluru

☆ Morning Bid: Consumers in focus as Walmart reports
▼ + stars: | 2023-11-16 | by ( ) www.reuters.com time to read: +3 min

A look at the day ahead in European and global markets from Vidya Ranganathan. Thursday's corporate calendar features a host of earnings reports that will shine further light on the health of the global consumer, as U.S. retailers Walmart (WMT.N), Bath & Body Works and Macy's (M.N) report earnings. Expectations for Walmart ride high after peer Target (TGT.N) surged by almost a fifth on Wednesday in the wake of its consensus-beating holiday sales forecast and upbeat view of its supply chain. Figures on Wednesday showed U.S. producer prices fell at their fastest pace since April 2020, and UK consumer inflation undershot all forecasts. Reuters GraphicsMeanwhile in Asia, Japan's exports are struggling due to slumping China-bound shipments of chips and steel.

Persons: Vidya Ranganathan, Eddie Wu, Christine Lagarde, Jerome Powell, What's, Joe Biden, Xi Jinping, England's Randall Kroszner, ECB's Christine Lagarde, Luis de Guindos, Fed's Loretta Mester, John Williams, Michael Barr, Jacqueline Wong Organizations: Vidya, Walmart, Body, Insider Intelligence, U.S, Bank, Events, Applied Materials, Siemens, SQM, Thomson Locations: U.S, Asia, China, San Francisco, Bath, France

☆ Morning Bid: Inflation on the ropes, shutdown averted
▼ + stars: | 2023-11-15 | by ( ) www.reuters.com time to read: +5 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 26, 2023. Much like then, the sheer scale of the yield swoon has stoked bond volatility gauges (.MOVE) too. What's more, a quarter point rate cut by May is now 80% priced and 100bps of easing through 2024 is now baked in. U.S. corporate news stays on retail later as Target reports earnings, following a beat by Home Depot on Tuesday. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Brendan McDermid, Mike Dolan, Xi Jinping's, Joe Biden, Russell, Austan Goolsbee, Berkshire Hathaway, Warren Buffett, Michael Barr, Thomas Barkin, Jonathan Haskel, Xi Jinping, Bernadette Baum Organizations: New York Stock Exchange, REUTERS, Wall, Chicago Fed, Bank of America, Home Depot, Berkshire, General Motors, Procter, Gamble, Richmond Fed, Bank of England, APEC, Cisco Systems, Palo Alto Networks, Reuters, NFIB, Reuters Graphics Reuters, Thomson Locations: New York City, U.S, Wall, UK's, York, San Francisco

☆ FDIC Chair takes heat over stunning allegations of sexual harassment and discrimination at agency
▼ + stars: | 2023-11-14 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +3 min

New York CNN —Federal Deposit Insurance Corporation Chair Martin Gruenberg testified Tuesday that he was unaware of the allegations of widespread sexual harassment and discrimination at the agency detailed in a Wall Street Journal investigation. “I did not know about the individual cases,” Gruenberg told him. Martin Gruenberg, chair of the Federal Deposit Insurance Corporation, told senators on Tuesday he was troubled by the allegations detailed in a Wall Street Journal investigation. The report also referenced a 2019 survey conducted by the inspector general that found 8% of the 2,376 respondents experienced sexual harassment between January 2015 to April 2019. The 2020 inspector general report made 15 recommendations to prevent and address sexual harassment at the agency, which Gruenberg said in his testimony on Tuesday had been implemented but acknowledged “didn’t change the culture” at the FDIC.

Persons: Martin Gruenberg, Gruenberg, “, we’ve, ”, Mike Rounds, Thom Tillis, ” Gruenberg, Michael Barr, Michael Hsu, Urban Affairs Gruenberg, Jelena McWilliams Organizations: New, New York CNN, Federal Deposit Insurance, Street, Senate, Street Journal, FDIC, Federal Reserve, Federal Deposit Insurance Corporation, Banking, Housing, Urban Affairs, Financial Locations: New York, South Dakota, North Carolina, “, U.S

REUTERS/Evelyn Hockstein/ Acquire Licensing RightsWASHINGTON, Nov 14 (Reuters) - The Federal Reserve's top Wall Street cop Michael Barr and other bank regulators will defend plans to hike U.S. bank capital requirements when they appear before Congress this week as they come under increasing pressure from many lawmakers to rein in their efforts. The proposal would overhaul how banks gauge risk and, in turn, how much capital they must hold against potential losses. Regulators say stronger cash cushions will make the financial system safer and are especially crucial after three banks failed earlier this year. As part of their campaign to kill the Basel proposal, banks have been lobbying lawmakers to put pressure on the regulators. On Monday, 39 Senate Republicans stepped up the pressure, asking the regulators to scrap the proposal, citing economic harm.

Persons: Michael Barr, Evelyn Hockstein, Barr, Federal Deposit Insurance Corporation's Martin Gruenberg, Mike Hsu, Mark Warner of Virginia, Jon Tester, Isaac Boltansky, Gruenberg, Michelle Price, Pete Schroeder, Jonathan Oatis Organizations: Banking, Housing, Urban Affairs Committee, Capitol, REUTERS, Rights, Federal, Federal Deposit Insurance, Financial, Democrat, Senate, Republicans, Journal, Industrial, Commercial Bank of China, Treasury, Thomson Locations: Washington , U.S, U.S, Basel, Montana

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., October 27, 2023. "This is what the Fed was looking for, slowing inflation, slowing labor market and the economy's holding up at the same time." Following the data, traders erased bets the Fed will raise borrowing costs any further and piled into bets on rate cuts starting by May. U.S. Treasury yields dropped, with the two-year yield , which best reflects short-term interest rate expectations, sliding to two-week lows. Advancing issues outnumbered decliners by a 13.89-to-1 ratio on the NYSE and by a 5.44-to-1 ratio on the Nasdaq.

Persons: Brendan McDermid, Thomas Hayes, Russell, Jerome Powell, Michael Barr, Loretta Mester, Austan Goolsbee, Mike Johnson, Sruthi Shankar, Amruta, Ankika Biswas, Shinjini Organizations: New York Stock Exchange, REUTERS, Companies, Dow, Nasdaq, Federal, Reuters, May, U.S, Treasury, Nvidia, Banking Committee, Cleveland Fed, Chicago Fed, U.S . House, Dow Jones, Inc, NYSE, Thomson Locations: New York City, U.S, New York, United States, Bengaluru

☆ Morning Bid: Murky US inflation picture
▼ + stars: | 2023-11-14 | by ( ) www.reuters.com time to read: +6 min

According to consensus forecasts at least, U.S. headline inflation is expected to have retreated sharply again in October back toward midyear lows around 3.3%. But underlying 'core' inflation is expected to stay stickier at an unchanged annual rate of 4.1% last month and still more than twice the Fed's target. But the Fed may want to hang tough long enough into a slowing economy to ensure that inflation is squeezed back to its 2% goal. And perhaps the negative tilt on October core inflation going into today's release leaves more room for a positive surprise. The International Energy Agency on Tuesday raised its oil demand growth forecasts for this year and next despite the weakening economic picture.

Persons: Lucas Jackson, Mike Dolan, Goldman Sachs, Xi Jinping, Joe Biden, Biden, Xi, Shunichi Suzuki, Philip Jefferson, Loretta Mester, Austan Goolsbee, Michael Barr, Huw Pill, Christina Fincher Organizations: New York Stock Exchange, REUTERS, New, Bank of America's, Treasury, International Energy Agency, U.S, Economic Cooperation, Reuters, Bank of Japan, Japan's Finance, Home, Federal, Cleveland Fed, Chicago Fed, Banking, Housing, Urban Affairs, Bank of England, Thomson Locations: New York, U.S, California, San Francisco, Asia, China, Japan, Teck, United States

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