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CNN —Tom Brady took some major hits by his former teammates, comedians and even Kim Kardashian during Netflix’s “The Greatest Roast of All Time” on Sunday. Boston-native and Brady fan Ben Affleck revealed that while the two were filming a Super Bowl spot, Brady asked the actor and director to look at his social media comments. #TomBradyRoast pic.twitter.com/Mp0mYZXdn3 — Netflix (@netflix) May 6, 2024Brady may have seen certain defeat on Sunday but his decades-long NFL career is nothing short of remarkable. He is also a five-time Super Bowl MVP and won three NFL MVP awards. At the end of the roast, Brady finally had the chance to defend himself, saying that people had asked him why he agreed to do the event.
Persons: Tom Brady, Kim Kardashian, Netflix’s, Kevin Hart, Gisele Bündchen, “ deflategate ”, Jeff Ross, Brady, Kardashian, “ I’d, I’d, , Ben Affleck, ” Affleck, ” Will Ferrell, Ron Burgundy, , ” Brady, Rob Gronkwoski, Julian Edelman, Randy Moss, Drew Bledsoe, Bill Belichick, Peyton Manning, Robert Kraft, Gronkowski, Belichick, Bert Kreischer, Tom Segura, Nikki Glaser, Andrew Schulz, Tony Hinchcliffe, Sam Jay, Glaser, Tom, I’ve Organizations: CNN, Netflix, NFL, New England Patriots, Patriots, Sunday, Rings, Tampa Bay Buccaneers Locations: Boston, Denver, Louisiana
AI chatbots can help workers brainstorm ideas, do research, write reports, build presentations, learn about new topics and identify patterns in vast troves of data. AI will ‘destroy’ some jobs, boost othersThere is also the very real risk that AI will replace some workers. AI might be able to help slow the rate of decay in the labor force,” Sangani said. “These workers will be supplemented, not replaced, by AI,” Sangani said, though he added there are also places where AI will replace workers. IMF warns AI could deepen inequalityEven if AI accelerates economic growth, there is no guarantee that everyone will benefit.
Persons: New York CNN — Jan Hatzius, Goldman Sachs, Hatzius, ” Hatzius, that’s, you’ll, , ” Satyen, ” Sangani, Jeremy Grantham Organizations: New, New York CNN, CNN, Treasury Department, IRS, Hatzius, International Monetary Fund Locations: New York, United States
New York (CNN) — Is the artificial intelligence boom on Wall Street a bubble primed to burst or the real deal? That’s the question investors have wrestled with since the Magnificent Seven tech stocks began turbocharging a powerful market rally last year. “A new bubble within a bubble like this, even one limited to a handful of stocks, is totally unprecedented,” he wrote in a Monday blog post. “The long-run prospects for the broad US stock market here look as poor as almost any other time in history,” he wrote. Still, the notorious market bear sees some areas of opportunity in the stock market.
Persons: , Jeremy Grantham, , Grantham, Granthan, , Hanna Ziady, Abu, Adnoc, NewMed Energy’s, Gan, Marc Stewart, Wayne Chang, ByteDance, ” Wang Wenbin, Wang Organizations: CNN Business, Bell, CNN, ” Tech, Monster, Nvidia, Boston, Federal Reserve, ChatGPT, BP, UAE, United Arab Emirates, NewMed Energy, Energy, Starbucks, McDonald’s, KFC, CNN Wednesday Locations: New York, Grantham, Israel, Gaza, Tel Aviv, China, America, American, Beijing
US stocks are priced for perfection in an "imperfect and dangerous" world, Jeremy Grantham said. The top investor said AI could be bigger than the internet but the initial bubble would likely pop. AdvertisementStocks are dangerously overvalued and poised to disappoint, the AI bubble is bound to burst, and a recession appears likely, Jeremy Grantham has warned. Yet he said the rollout of ChatGPT "rudely interrupted" that process by inflating a whole new bubble around AI. "So it is likely to be with the current AI bubble," Grantham said, predicting it would "at least temporarily deflate and probably facilitate a more normal ending to the original bubble."
Persons: Jeremy Grantham, Grantham's, , Grantham, there's Organizations: Service Locations: Europe, Asia
"For those of you younger than us who did not live through the Tech Bubble of the late 1990s, you are now living through Tech Bubble 2.0. As a reminder, the NASDAQ fell about 80% when that bubble burst in the mild recession of the early 2000s," Wolfenbarger said. AdvertisementThere is evidence that backs up Wolfenbarger's bubble claims, starting with fairly standard valuation measures like the Shiller cyclically-adjusted price-to-earnings ratio. While it's not as high as it was during the dot-com bubble, it's higher than it was in 1929 — and is at one of its most elevated levels in history. Bank of AmericaAs for what will finally deflate the bubble, Wolfenbarger is expecting a recession to hit the US economy.
Persons: , Microsoft —, Jon Wolfenbarger, Merrill Lynch, Wolfenbarger, it's, America's Michael Hartnett, Louis Fed Wolfenbarger, Jeremy Grantham, Adam Karr, Orbis Investment Management Karr, It's Organizations: Service, Apple, Nvidia, Microsoft, Business, JPMorgan, ClearBridge, Tech, NASDAQ, ClearBridge Investments Bank, America's, Bank of America, Bank of America's Global, Institute for Supply Management's Manufacturing, Orbis Investment Management, Global Fund, Federal Reserve Locations: Japan
David McLane/NY Daily News Archive/Getty Images The first Macy's store, on New York's Sixth Avenue, is seen circa 1880. New York Times Co./Hulton Archive/Getty Images Workers sort parcels at a Macy's store circa 1942. Fritz Goro/The LIFE Picture Collection/Shutterstock Women show dolls to children at a Macy's store around Christmas in 1942. Fred Morgan/NY Daily News Archive/Getty Images The Radio City Rockettes march in the Macy's Thanksgiving Day Parade in 1966. Amy Sussman/AP Images for Macy's This Macy's store in West Palm Beach, Florida, was one of dozens of stores that the company announced it would be closing in 2017.
Persons: David McLane, Santa Claus, Fritz Goro, Bernard Hoffman, Rita Hayworth's, Nina Leen, Fred Morgan, Paul DeMaria, Jean, Erick Pasquier, Monica Almeida, Chris Hondros, Timothy Fadek, Andrew Craft, Eric Thayer, Eduardo Munoz, Andrew Kelly, Amy Sussman, Joe Raedle, Charles Krupa, Gary Hershorn, Macy’s Organizations: New, New York CNN — Veteran, CNN, Street Journal, Commerce Department, NY, The New, Historical Society, of Congress, Santa, Bettmann, . New York Times Co, Hulton, Getty, Keystone, Herald, Macy, City, Workers, Fayetteville Observer, USA, Reuters Shoppers, Reuters, Saxon Middle School Choir, Downtown Burlington High School, Corbis Locations: New York, ., France, Fayetteville , North Carolina, Bay Shore , New York, West Palm Beach , Florida, Burlington , Vermont, New York City, Santa Claus
Ah, the Iowa caucuses. So much money and energy spent on an antidemocratic process in a state with a pretty dismal track record of picking presidential nominees. Because Iowa is never really about who wins the actual caucuses so much as about who wins the Expectations Game. As you can imagine, this is not a lighthearted game like, say, charades or Hungry Hungry Hippos. And this election, with Donald Trump dominating the race as a quasi-incumbent cult-of-personality leader, the known unknowns are even knottier.
Persons: Arizona can’t, Donald Trump Organizations: Republican Locations: Iowa, New Hampshire, Arizona
There are some trades for investors looking to avoid a possible asset bubble and other potholes that could be ahead. The standard 30-year fixed mortgage rate rose even further, a function of both the rising risk-free rate and the rising spread. Buying bonds has interest rate risk. Moreover, the spread between mortgage rates and Treasuries is unusually high. Risk-free rates stay static or even rise mildly, but if the spread narrows mortgage rates could fall, a tailwind for a mortgage portfolio.
Persons: There's, Murray Rothbard, Milton Friedman, Ben Bernanke, Bernanke's, Janet Yellen, Jerome Powell, Howard Marks, Charlie Munger, Berkshire Hathaway, Marks, Steve Eisman, Neuberger Berman, they've Organizations: Federal Reserve, Fed, Federal Reserve Bank, Vanguard Value, Technology, MBS Locations: U.S, deflate, Berkshire
Food inflation is slowing down heading into 2024, according to the largest supermarket chain in the US. Executives at Kroger said they expect food inflation "in the low single-digits'" in the new year. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Food inflation peaked over the last two years in June 2022, when federal data showed prices rising 9%. Walmart is also expecting relief from food inflation, CEO Doug McMillon said earlier this month.
Persons: , Gary Millerchip, Kroger, Millerchip, Rodney McMullen, Doug McMillon Organizations: US, Kroger, Service, Bank of America, Walmart Locations: Nashville , Tennessee
Nikki Haley has gained real momentum for her White House campaign. The GOP is still Trump's party, so Haley will have to withstand difficult dynamics headed into 2024. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Jeb Bush was unable to blunt Donald Trump's momentum ahead of the 2016 GOP primaries. But then came Trump, who flipped the script when he entered that year's GOP contest.
Persons: Nikki Haley, Haley, , Ron DeSantis, Donald Trump, She's, Koch, Jeb Bush, Donald, Sean Rayford, Trump, Bush, Bush , Florida Sen, Marco Rubio, Texas Sen, Ted Cruz, Bush's, Rubio, Cruz, Joe Biden, California Sen, Kamala Harris, Massachusetts Sen, Elizabeth Warren, Harris, Warren underperformed, Biden, Vermont Sen, Bernie Sanders, Pete Buttigieg, Buttigieg, Sanders soldiered, Jim Vondruska, credibly, Vivek Ramaswamy, Ramaswamy Organizations: S.C, GOP, Service, Florida Gov, Trump, Prosperity, Republican, Super, New, Vermont, South Carolina, Super Tuesday, she'll Locations: Iowa, New Hampshire, Florida, Bush , Florida, Texas, California, Massachusetts, Nevada, South, Warren, Des Moines , Iowa, Republican, New Hampshire , Iowa, South Carolina
Tiger Woods and Rory McIlroy's indoor golf league, TGL, has postponed its inaugural season by a year until the start of 2025, the organization said Monday. But TGL delayed the season, which was expected to start in January, after speaking to key partners. "This decision came after reviewing short-term solutions, potential construction timelines, player schedules, and the primetime sports television calendar," the league said in a statement. TGL, which counts the PGA Tour as a partner, was founded by McIlroy, Woods and former NBC executive Mike McCarthy. The trio wants to create a primetime indoor golf league to attract new fans to the sport at as the emergence of the Saudi-backed LIV Golf, and then its proposed merger with the PGA Tour, left golf at a crossroads.
Persons: Woods, Rory McIlroy, Tiger Woods, Rory McIlroy's, TGL, McIlroy, Mike McCarthy, LIV Golf, Steve Cohen, Arthur Blank, Alexis Ohanian, Serena, Venus Williams, Stephen Curry, Lewis Hamilton, Alex Morgan, Justin Timberlake, Tony Romo, Josh Allen, Rosalyn Durant Organizations: Northern, Augusta National Golf Club, Tiger, SoFi, NBC, PGA Tour, Atlanta Falcons, Fenway Sports Group, ESPN Locations: United States, Augusta , Georgia, Palm Beach Gardens , Florida, Saudi
In this article AAPLAMZNTSLABXWMTBABA.FKRX300 Follow your favorite stocks CREATE FREE ACCOUNTTraders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., November 16, 2023. Brendan Mcdermid | ReutersThis report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. To that end, Mester doesn't see rate cuts on the horizon. Perhaps investors shouldn't be so sure about impending rate cuts too.
Persons: Brendan Mcdermid, Doug McMillon, Jonathan Krinsky, Krinsky, Loretta Mester, isn't, Mester, Lisa Cook Organizations: BABA, New York Stock Exchange, Reuters, CNBC, Walmart, Nasdaq, Dow Jones, Federal Reserve, Cleveland Federal Locations: New York City, U.S, San Francisco
In this article 7201.T-JPVOW3-DEMETAGOOGL.FKRX300BABABABAWMTAMZN Follow your favorite stocks CREATE FREE ACCOUNTTraders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., November 16, 2023. Brendan Mcdermid | ReutersThis report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. To that end, Mester doesn't see rate cuts on the horizon. Perhaps investors shouldn't be so sure about impending rate cuts too.
Persons: VOW3, FKRX300 BABA BABA, Brendan Mcdermid, Doug McMillon, Jonathan Krinsky, Krinsky, Loretta Mester, isn't, Mester, Lisa Cook Organizations: New York Stock Exchange, Reuters, CNBC, Walmart, Nasdaq, Dow Jones, Federal Reserve, Cleveland Federal Locations: New York City, U.S, San Francisco
Barbie dolls (R) are displayed for sale ahead of Black Friday at a Walmart Supercenter on November 14, 2023 in Burbank, California. Shoppers may get an early present this holiday season: falling prices in many gift-giving categories. On Thursday, Walmart CEO Doug McMillon said deflation could be coming as general merchandise and key grocery items, such as eggs, chicken and seafood get cheaper. Across most categories, Americans are still spending more on the same items, according to the latest CPI numbers. Walmart's McMillon said some stubborn food prices continue to be a concern.
Persons: Barbie, Doug McMillon, it's, Richard McPhail, John David Rainey, Rainey, Walmart's McMillon Organizations: Walmart, Shoppers, Labor Department, CPI, Home, American Farm Bureau Federation, Wall, CNBC Locations: Burbank , California, U.S
Walmart CEO says food deflation may come soon
  + stars: | 2023-11-16 | by ( Nathaniel Meyersohn | ) edition.cnn.com   time to read: +2 min
New York CNN —Lower grocery prices may soon be coming for shoppers. Food prices have increased 25% since the pandemic started. The pace of food inflation has slowed in recent months, but food prices are mostly still going up. Food prices rose 3.3% annually in October from a year ago, according to the latest reading from the Labor Department. If you think prices will go down in the future, you may delay making a lot of purchases today.
Persons: Doug McMillon, ” McMillon, CNN’s Elisabeth Buchwald Organizations: New, New York CNN, Walmart, Labor Department, Federal Reserve Locations: New York, United States, Japan
"The town is basically one giant Airbnb," David Francis, an Oklahoma state official, told the Times. Unpaved roads plague rental owners, as does unreliable water infrastructure, which is essential to maintain the hot tubs that keep guests happy. Some cabin owners who bought properties recently, when prices were high, also worry that there aren't enough traveler bookings to make their investments worthwhile. It's enough of a gap, though, to deflate some new rental owners' dreams. "I hope I don't have to sell the cabin," Winegar said.
Persons: he's, he'd, , Hochatown, David Francis, Hochatown's, Jay Carney, Airbnbs, Todd McDaniel, it's, Leo Winegar, Winegar Organizations: Service, New York Times, Times, Dallas, Costco Locations: Hochatown , Oklahoma, Oklahoma, Dallas, an Oklahoma, , America, Airbnb, Hochatown, Idaho
Walmart wants to lower your grocery bill
  + stars: | 2023-11-16 | by ( Dominick Reuter | ) www.businessinsider.com   time to read: +3 min
The company said it hopes falling food prices will free up shoppers' wallets to buy other merchandise. AdvertisementJust as inflation refers to rising prices, "deflation" refers to prices falling — and even though it may help consumers, it presents a surprisingly tricky challenge for businesses and policymakers. In contrast to periods of rising inflation in which corporate profit margins typically grow, deflation tends to squeeze companies in a few ways. AdvertisementThe upside of falling food prices for Walmart — more than say Kroger or Albertsons — is that Walmart sells a whole lot more than groceries. "If the food prices come down," McMillon said, "that'll free up dollars to be spent in general merchandise."
Persons: , Doug McMillon, it's, McMillon, John Furner Organizations: Walmart, Service, Rabo Research, Albertsons
Where prices fell in October 2023 — in one chart
  + stars: | 2023-11-15 | by ( Greg Iacurci | ) www.cnbc.com   time to read: +1 min
Bloomberg | Bloomberg | Getty ImagesInflation continued its broad moderation in October, down significantly from pandemic-era highs that hadn't been seen in more than 40 years. Why some prices are deflatingwatch nowSome prices, like those for airline tickets and eggs, have also declined off record-high levels. Egg and airline ticket prices are down about 22% and 13% in the past year, according to CPI data. How measurement quirks affect pricesSome of the declines are due partly to measurement quirks. Consumers get more for roughly the same amount of money, which shows up as a price decline in the CPI data.
Persons: hadn't, Andrew Hunter Organizations: Bloomberg, Getty, Capital Economics, CNBC, U.S . Bureau of Labor Statistics, CPI Locations: New, U.S
Portia Stafford, a petite and usually soft-spoken 22-year-old, shouted through the razor wire at the burly men guarding the construction site in Soweto, a sprawling township in South Africa. When a guard threatened to shoot, the group backed off and Ms. Stafford felt her resolve deflate. Ms. Stafford, her sister and two cousins all have high school diplomas — historically a ticket to a decent job in South Africa. “There’s no moving forward,” Ms. Stafford said. She frets that only those with connections succeed, but she said, “I keep trying to get a job, and I go all out.”
Persons: Portia Stafford, Stafford, , Ms, Locations: Soweto, South Africa
Nov 9 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. Producer and consumer price inflation figures will be released, the highlights of a regional calendar that also includes Japanese bank lending, trade and current account figures, Indonesian retail sales, and Philippines GDP. Global yields are moving too - the 10-year Japanese Government Bond yield is back below 0.85%, having come within two basis points of 1% last week. The decline in U.S. bond yields is removing some of the dollar's shine, which in turn is allowing Asian currencies to fight back. Yen traders on Thursday are also eyeing Japanese bank lending figures for October and September's trade and current account report.
Persons: Jamie McGeever, Pan Gongsheng, Ping, Fed's Powell, Josie Kao Organizations: Treasury, People's Bank of China, Financial, Ping An Insurance Group, Reuters, Nissan, Honda, Sony, Group, China PPI, CPI, Thomson Locations: Asia, Philippines, Beijing, China's, Japan, Philippine, China
CNN —Anti-mining protests that have roiled Panama for the last two weeks turned deadly on Tuesday when a man allegedly shot and killed two demonstrators, according to police. For weeks, tens of thousands of protestors have vented their fury at a controversial mining contract given to Minera Panama, the local subsidiary of a Canadian mining company, to extract copper, a key component in electric car batteries. Teachers march to protest the deaths of two people during a demonstration against the government's contract with Canadian mining company First Quantum and its subsidiary Minera Panama in Panama City on November 8, 2023. Roberto Cisneros/AFP/Getty ImagesA march against the government contract with Canadian mining company First Quantum and its subsidiary Minera Panama in Panama City on November 3, 2023. In 2017, Panama’s Supreme Court declared another contract to operate the copper mine as unconstitutional, forcing the mining company and government to renegotiate the deal.
Persons: Manuel Noriega, Roberto Cisneros, Panamanians, Martita Cornejo, Panama John Feeley, , Weeks, Laurentino Cortizo, , ” Cortizo Organizations: CNN, Twitter, Pan, Panama’s National Police, Central, Minerals, Minera, AFP, Getty, , Panama’s Locations: Panama, Central American, Canadian, Minera Panama, Panama City, Panamanian, Colombia, Panamanian State
Setting up the Earning Iron Condor Selling an Iron Condor is an options trading strategy where you simultaneously sell out-of-the-money call spreads and put spreads. Most trading platforms will allow traders to put this trade as one unit by selecting "Sell Iron Condor" as the trade structure. 80% probability of success, as is the nature of high probability trading, the risk is higher than the max profit. (Try an unbalanced Iron Condor) This trade has 80% chance of success based on options probabilities. The put spread has a 90% probability of success and the call spread has the original 80% probability of success.
Persons: MSFT Organizations: Microsoft, Condor, Iron Condor, Traders Locations: MSFT
China’s leaders speed towards Japanisation
  + stars: | 2023-10-20 | by ( Edward Chancellor | ) www.reuters.com   time to read: +8 min
LONDON, Oct 20 (Reuters Breakingviews) - China’s real estate market is in decline. The trouble is that China’s economic imbalances are far worse than Japan’s in 1990. Yet China’s GDP per capita has reached only half of Japan’s level in 1990. China’s economic misdirection is catalogued in Yasheng Huang’s “The Rise and Fall of the East”. After 1978 the authorities gave provincial governments substantial freedom to promote economic growth and rewarded them for meeting a growth target.
Persons: Xi, Xi Jinping, Huang, , Xi’s, Beijing’s, Peter Thal Larsen, Oliver Taslic, Thomas Shum Organizations: Reuters, Monetary Fund, South, Asian, IMF, Reuters Graphics Reuters, Bank for International, MIT Sloan School of Management, HK, Communist, Huawei, Washington, Thomson Locations: Marrakech, People’s Republic, China, South Korea, Japan, deflate, Tokyo, California, Beijing, Taiwan, Communist
The United States Supreme Court building is seen as in Washington, U.S., October 4, 2023. The Supreme Court in 2019 forbade federal courts from intervening in cases involving gerrymandering done for partisan advantage. A group of Black voters sued to block the use of the reconfigured district. "What these plaintiffs in these cases are doing is basically bringing partisan gerrymandering claims and trying to dress them up as if they're racial gerrymandering claims," Torchinsky said. A HEAVY BURDENPlaintiffs in racial gerrymandering cases long have borne a heavy burden.
Persons: Evelyn Hockstein, Leah Aden, Jason Torchinsky, Holtzman Vogel, Nacy Mace, Torchinsky, David Gans, that's, Gans, Nicholas Stephanopoulos, John Gore, Elena Kagan, Kagan, John Kruzel, Will Dunham Organizations: United States Supreme, REUTERS, Rights, U.S, Supreme, Republican, U.S . House, Republicans, Democratic, NAACP Legal Defense Fund, Black, Constitutional, Center, South, Harvard Law, Thomson Locations: Washington , U.S, South Carolina's, Legislative, United States, Carolina's, South Carolina, Stephanopoulos, Gore
New York CNN —Sheila Bair, who had a front row seat to the subprime mortgage meltdown, is worried today’s housing market is unsustainably hot. A housing bubble can form when prices rise to unsustainable levels. “I see much less speculation in the housing market today, thank goodness,” said Bair. ‘Dizzying heights’Legendary investor Jeremy Grantham shares Bair’s concern about a housing bubble. In many ways, today’s housing market is the polar opposite of the one that preceded the Great Recession.
Persons: Sheila Bair, ” Bair, Bair, , she’s, there’s, Jeremy Grantham, ” Grantham, Goldman Sachs, Fannie Mae, Priscilla Almodovar, it’s, ” Almodovar, Lawrence Yun, homebuyers shouldn’t, ” Yun, Yun, America doesn’t Organizations: New, New York CNN, National Association of Realtors, CNN, Federal Deposit Insurance Corp, NAR, , UBS Locations: New York, Los Angeles, San Diego, Richmond, Cincinnati, Zurich, Tokyo, Miami, Toronto, Vancouver, London, America,
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