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☆ Too far, too fast? Relentless rally worrying some we are long overdue for a significant pullback
▼ + stars: | 2024-03-05 | by ( Fred Imbert | ) www.cnbc.com time to read: +2 min

The broad market index has also posted gains in 16 of the last 18 weeks — something that, according to Deutsche Bank strategist Jim Reid, hasn't happened since 1971. However, some on Wall Street now fear the market may have overextended itself to the upside, clearing the way for a pullback from record levels. BTIG chief market technician Jonathan Krinsky also noted there's a divergence never before seen in Big Tech. Volmageddon refers to a massive volatility spike in early 2018 in which the Cboe Volatility Index (VIX) more than doubled to more than 50. Bottom line: A short-term pullback in stocks could take place soon, if history is any guide.

Persons: Jim Reid, hasn't, Chris Montagu, Citi's, Jonathan Krinsky, Krinsky Organizations: Deutsche Bank, Nasdaq, Federal Reserve, Apple, RSI Locations: Big Tech

☆ ‘Who Owns This Sentence?’ Increasingly, Who Knows?
▼ + stars: | 2024-01-21 | by ( Alexandra Jacobs | ) www.nytimes.com time to read: +1 min

WHO OWNS THIS SENTENCE? A History of Copyrights and Wrongs, by David Bellos and Alexandre MontaguDavid Bellos and Alexandre Montagu’s surprisingly sprightly history “Who Owns This Sentence?” arrives with uncanny timing. How quaint Harold Bloom’s “anxiety of influence” theory of the Romantic poets now seems, amid the current cut-and-paste panic. Like a corrupt police officer, artificial intelligence is scanning for more plagiarism perps, while itself stealing writers’ words. Bellos, a translator and biographer, and Montagu, a lawyer, step confidently behind the yellow tape to guide us around.

Persons: David Bellos, Alexandre Montagu David Bellos, Alexandre Montagu’s, ”, Eve hangovers, Smokey Bear, Harold Bloom’s “, …, Montagu Organizations: WHO, “

☆ The Crown, the Cabinet and the UK’s legacy of slavery
▼ + stars: | 2023-11-24 | by ( ) www.reuters.com time to read: +11 min

British banks backed large parts of the U.S. slavery economy, and British factories were the world’s largest customers for the cotton produced by plantations in southern U.S. states. In 1663, it was granted a monopoly by King Charles II for the British slavery trade. In 1794, Eli Whitney patented the cotton gin, a machine that would transform the U.S. slavery economy. Mill owners including the Arkwrights, one of the richest families in the industry, were Smith family clients. Two British travel writers visited Farm Pen in 1837, when the land was still in Smith family hands.

Persons: ”, Nick Draper, George Smith, King Charles, Hunt, Trevor Burnard, “, ” Burnard, Smith, Edward, René Payne, Payne, John Tunno, John de Ponthieu, … ” Edward Payne, slaveholder John de Ponthieu, de Ponthieu, buryed, King Charles II, John Montagu, Edward Montagu, Montagu, ” John Montagu 11th Earl of Sandwich, Edward Montagu , 1st Earl of Sandwich, Nicholas Radburn, ” Radburn, Brookes, –, Eli Whitney, Rothschild, Geoffrey Clifton, Brown, William, James Brown, James, Clifton, Harriman, Draper, Morgan Chase, Joseph Sturge, Thomas Harvey Organizations: America, University College London, “, Wilberforce Institute, University of Hull, ”, Reuters, Company of Royal Adventurers of, Royal African Company, The Company, Royal Adventurers of, Lancaster University, Traders, Transatlantic, Brown Brothers, Brown, Harriman & Co, Planters Bank of Tennessee, Planters Bank of Mississippi, Rio, Spanish Town Locations: Britain, U.S, British, Caribbean, British Caribbean, America, English, Nottingham, London, West India, Bristol, Liverpool, United States, South Carolina, Charleston, Barbados, Africa, North, Clifton, New York, Louisiana and Mississippi, Louisiana, Jamaica, Kingston, Spanish

☆ Just a mirage? Traders worry November's strong start is just massive short covering
▼ + stars: | 2023-11-08 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

The S & P 500 surged by 5.85% last week, its best weekly performance going back to November 2022. .SPX 3M mountain S & P 500 But a number of market participants are concerned the rally has more to do with short covering. Of those instances, the S & P 500 was down five days after the move, by more than 1% on both an average and median basis. Commodity trading advisors also accelerated short covering, notably turning short in the front end, according to a Bank of America note on Monday. Elsewhere, Citi's Chris Montagu said S & P 500 futures positioning remains "moderately bearish" following the short-covering rally.

Persons: Chris Senyek, Senyek, Goldman Sachs, BTIG's Jonathan Krinsky, Krinsky, Citi's Chris Montagu, Montagu, Wolfe Research's Senyek Organizations: Wolfe Research, Nasdaq, Bank, America, Federal

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 19, 2023. The ratings agency also warned that the sector's credit strength would likely be tested by funding risks and weaker profitability. Big banks Goldman Sachs (GS.N) and Bank of America (BAC.N) eased 0.8% and 1.4%, respectively, in premarket trading, while Bank of New York Mellon and U.S. Bancorp shed 2.3% each. "It also means that the concern that we had in March over those three bank defaults, is not over yet." Remarks by Philadelphia Fed President Harker and Richmond Fed President Barkin will be closely watched for cues about the U.S. central bank's rate path after mixed messages from New York Fed President John Williams and Fed Governor Michelle Bowman on Monday.

Persons: Brendan McDermid, Eli Lilly, Moody's, Goldman Sachs, Sam Stovall, Chris Montagu, Thursday's, Harker, Barkin, John Williams, Michelle Bowman, LLY.N, Zachary Kirkhorn, Elon Musk, Bansari Mayur Kamdar, Johann M, Sriraj Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Bank of New York Mellon, US Bancorp, Truist, Bank of America, U.S . Bancorp, U.S . Treasury, CFRA, Silicon Valley Bank, Signature Bank, Citi, Wall Street, Dow e, Philadelphia, Richmond Fed, New York Fed, United Parcel Service, Elon Musk ., Alibaba, Thomson Locations: New York City, U.S, Silicon, Richmond, New, Elon Musk . U.S, Bilibili, Bengaluru

☆ Rare manuscript that paved way for British monarchy's return up for auction
▼ + stars: | 2023-04-05 | by ( ) www.reuters.com time to read: +2 min

LONDON, April 6 (Reuters) - A rare 17th-century manuscript, which was key to the restoration of the British monarchy under King Charles II a decade after the execution of his father, will be auctioned next month, coinciding with the coronation of his current namesake. One of two surviving copies is to go under the hammer in May at London auction house Sotheby's, a couple of days before the current monarch King Charles III is crowned at London's Westminster Abbey. "It is through this declaration that in 1660 the monarchy was re-established and the terms by which they would rule agreed, which still apply today, 350 years later as Charles III ascends the throne." Sotheby's said five copies of the declaration were made, with the only other surviving one kept in the parliamentary archives. ($1 = 0.8019 pound)Reporting by Michael Holden; editing by Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

LONDON, March 3 (Reuters) - European buyout houses Montagu Private Equity and Astorg Partners are preparing to hang the "for sale" sign on their UK insurance software investments, hoping to woo insurers and fellow private capital funds with their technology. Acturis, Astorg and Open GI did not respond to requests for comment. It last attempted to sell the business in 2018 and has since strived to transform it into a software-as-a-service (SaaS) platform, which could attract fellow private equity funds with existing investments in the insurance industry, sources said. Open GI could be worth up to 12 times its expected core earnings of more than 30 million pounds ($35.96 million) expected for 2023, two sources said. Revenue rose to 111.9 million pounds from 102.4 million pounds the previous year, as the company added new brokers and insurers to its eponymous SaaS platform.

☆ As Wall Street strikes a bearish tone, these global stocks with margin growth could be safe bets
▼ + stars: | 2022-11-30 | by ( Zavier Ong | ) www.cnbc.com time to read: +3 min

After what has been a tumultuous year for stocks, many investors are hoping that markets are at a turning point. Defensive stocks ArcelorMittal , the world's largest steelmaker, made CNBC's screen. The stock is rated buy by nearly 60% of analysts covering it, who give it potential upside of 26.3%. The company is expected to grow its margin by 17.9% next year and analysts give it potential upside of 23.4%. Analysts give the stock potential upside of 34.8%.

☆ National Sandwich Day has chains serving up sandwich deals today
▼ + stars: | 2022-11-03 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +1 min

November 3rd marks National Sandwich Day (yes, it’s a thing.) But even though National Sandwich Day is still not an actual holiday, plenty of restaurant chains are doling out deals and freebies on sandwich orders. Popeyes: Buy one Chicken Sandwich combo (classic or spicy) and get a second sandwich free through the chain’s app or website. Jersey Mike’s Sub: Customers can get free delivery on their sandwich order through the app. McAlister’s Deli: The restaurant chain is offering a buy one, get one free sandwich promotion today for its reward program members.

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