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☆ Stock market hits new high after 2 years, overcoming a nasty inflation period and surging rates
▼ + stars: | 2024-01-22 | by ( Michael Santoli | ) www.cnbc.com time to read: +8 min

The long wait between S & P 500 all-time highs is a friendly factor for forward performance, as far as historical observations go. John Kolovos of Macro Risk Advisors says, "It is OK to be bullish on the stock market (S & P 500) just not the market of stocks (everything else)," from a trend-following perspective. Barry Knapp of Ironsides Macroeconomics calculates that the equal-weight S & P is one standard deviation cheap versus the market-cap-weighted index. Remarkably, the S & P 500 first pushed above 19-times forward earnings exactly four years ago, right before the Covid crash. Well, the S & P 500 has delivered an annualized total return near 11% in the four years since.

Persons: Ned Davis, Wayne Whaley, Whaley, I've, haven't, John Kolovos, Barry Knapp, Knapp, USTs, it's, hasn't Organizations: Ned Davis Research, Foresight, Federal, noncommittal, Nvidia, Nasdaq, Deutsche Bank

☆ Inflation has created a dark cloud over how everyday Americans view the economy
▼ + stars: | 2023-12-25 | by ( Alex Harring | ) www.cnbc.com time to read: +8 min

There's rising hope that monetary policymakers have successfully cooled inflation without tipping the economy into a recession. Yet closely watched survey data from the University of Michigan shows consumer sentiment, while improving, is a far cry from pre-pandemic levels. Inflation vs. the job marketContinued strength in the labor market is something economists expected to sweeten everyday Americans' views of the economy. While the Michigan index compiles questions focused on financial conditions and purchasing power, the Conference Board's more closely gauges one's feelings about the job market. A hot job market can be a double-edged sword for sentiment, Michigan's Hsu noted.

Persons: Scott Olson, Kyle Connolly, Connolly, she's, Joanne Hsu, we're, Hsu, That's, Camelia, Kuhnen, Michigan's Hsu, UNC's Kuhnen, Karen Dynan, Marissa Lyda, Lyda, She's, there's, There's, Harvard's, Dynan, Jerome Powell, Kevin Lamarque Organizations: Toyota, Facebook, Federal Reserve, University of Michigan, Bureau of Labor Statistics, Labor Department, Conference, University of North, U.S . Treasury Department, Walmart, Federal, Committee Locations: Chicago , Illinois, Florida's panhandle, Michigan, University of North Carolina, Harvard, Phoenix, Portland, Kroger, Washington , U.S

☆ Opinion | Why We Should Bring Back the Buffalo
▼ + stars: | 2023-11-23 | by ( Dayton Duncan | ) www.nytimes.com time to read: +2 min

But that heartbreaking tale has another chapter, too, that shows how Americans can change direction and pull back from the brink. Today, more than 350,000 bison can be found in the United States — a notable success, but really just a start. Most of today’s bison are being raised as livestock, confined like cattle, fattened in feedlots and trucked to commercial slaughterhouses. Meanwhile, some ranchers and nonprofit environmental organizations are trying to provide buffalo with something closer to the habitats they once knew: more room to roam and native grasses to eat. Under those conditions, the bison can reclaim their former role as the “keystone” species of the prairies, improving conditions for all other species to thrive.

Persons: Lewis, Clark, Meriwether Lewis Locations: North Dakota, Montana, United States, fattened, feedlots

☆ It's been 2 years since the Nasdaq hit a record and it's gone nowhere since
▼ + stars: | 2023-11-18 | by ( Michael Santoli | ) www.cnbc.com time to read: +7 min

The loudest investor chatter for months has insisted the heavyweights of the Nasdaq have been everything to the market in 2023. Sunday is the second anniversary of the all-time closing high in both the Nasdaq Composite and Nasdaq 100 indexes, which remain 12% and 4 % underwater even after their monster gains in recent months. It's relatively rare for the Nasdaq 100 – the most easily investable part of the Nasdaq and the one most reflective of the mega-cap dominance – to enter a two-year downturn. Only three of the Big Seven have outperformed the Nasdaq 100 over the past two years – Apple, Nvidia and Microsoft — while Meta Platforms has kept pace and Amazon, Alphabet and Tesla have lagged. Friday showed signs of outright rotation, the Russell 2000 up 1.3% versus a flat Nasdaq 100.

Persons: Invesco, Scott Chronert, we've, I've, –, Chronert, Apple's, What's, Berkshire Hathaway, Tony Pasquariello, Goldman Sachs, Russell, disinflation Organizations: Nasdaq, Sunday, QQQ, Citi, Apple, Nvidia, Microsoft, Meta, Berkshire, Fed Locations: lockstep, Berkshire, Whereto

☆ US reduces beef exports as cattle herd shrinks, squeezing Tyson Foods
▼ + stars: | 2023-11-10 | by ( Tom Polansek | ) www.reuters.com time to read: +5 min

The decline in cattle numbers, after years of drought fried pasture lands used for grazing, led to soaring U.S. beef prices. Higher prices incentivize companies to import cheaper beef and discourage U.S. beef purchases by buyers like China, Japan and Egypt. For Tyson, the loss of U.S. export business compounds margin pressure from higher cattle prices, Goldman Sachs analysts said. U.S. beef exports typically command higher margins than domestic shipments, they said. The USDA on Thursday raised its forecasts for beef imports in 2023 and 2024 in a monthly report.

Persons: Amira Karaoud, world's, Tyson, Cargill, Pete Bonds, Bonds, Goldman Sachs, Donnie King, Katelyn McCullock, McCullock, Derrell, Tom Polansek, Rod Nickel Organizations: Corydon , Indiana U.S, REUTERS, Rights, Tyson, U.S . Department of Agriculture, USDA, U.S ., U.S, Marketing, Center, Oklahoma State University, Thomson Locations: Corydon , Indiana, United States, China, Japan, Egypt, Texas, U.S, Tyson's, Florida, South Carolina, Australia, New Zealand, Paraguay, Paraguayan, Mexico

☆ Snake pizza on the menu in Hong Kong
▼ + stars: | 2023-11-08 | by ( Manav Tanneeru | Chris Lau | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —American company Pizza Hut has teamed up with a century-old Hong Kong restaurant to put a modern spin on a traditional dish, or more simply, snake on a pizza. Some diners in Hong Kong and around southern China have long enjoyed snake stew, especially during the colder months. Hong Kong resident Mabel Sieh, a self-described foodie who loves to try different pizzas, said, “I think it’s scary. And Hong Kong’s Pizza Hut locations have other plans for new menu items. Meanwhile, Pizza Hut in Japan created a pizza topped with Tonkotsu ramen (pork bone soup ramen).

Persons: they’ve, Ser Wong, –, Mabel Sieh, foodie, “, Rachel Wong, Karen Chan, ”, Dominos, boba Organizations: Hong Kong CNN —, Hong, CNN, Pizza Locations: Hong Kong, China, Southeast Asia, Vietnam, Thailand, Central Hong Kong, Macao, Taiwan, Japan

☆ Beef prices are at record highs — how much pricier will your steak get?
▼ + stars: | 2023-10-25 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +3 min

Retail beef prices in the U.S. are at record highs, pushing up prices of beef-based products from burgers to steaks and steak tartare. Retail beef prices are currently hovering around record levels of about $8 per pound, according to data from the United States Department of Agriculture (USDA). "All consumers will be paying more for all beef products for several more years," Wells Fargo's Chief Agricultural Economist Michael Swanson told CNBC via email. "As cattlemen retain cows to rebuild the herd, there is a much lower supply of cattle to provide beef," Swanson said. With elevated cow slaughter, has come tighter cattle supplies, and an expectation that domestic cattle supplies will remain tight into the future.

Persons: That's, Wells, Michael Swanson, Swanson, Brandon Bell, Brian Earnest, Adam Speck, Speck Organizations: Portland Press Herald, Getty, CNBC, United States Department of Agriculture, USDA, Gro Locations: U.S, Texas, Kansas, Quemado , Texas, Gro Intelligence's

Realmuto had two hits and three RBIs as Philadelphia improved to 7-1 in the playoffs, moving closer to a second straight World Series appearance. The Texas Rangers also hold a 2-0 lead over the Houston Astros in the ALCS headed into Wednesday’s game. The one in May when Turner hit a grand slam for the United States that lifted them into the tournament’s semifinals. Nola, eligible for free agency after the World Series, has only fattened the numbers for his impending contract. Against Corbin Carroll, Christian Walker and the Diamondbacks, Nola again was spotless.

Persons: — Kyle Schwarber, Merrill Kelly, Trea Turner, Realmuto, Aaron Nola, Kelly, Turner, ” Kelly, Phillies diehards, Rob Thomson, Nola, Phillie, Corbin Carroll, Christian Walker, Bryce Harper, Carroll, Alec Bohm, Gabriel Moreno, Joe Mantiply, Bryson Stott, Brandon Marsh, Schwarber, Stott, Brandon Pfaadt, Suárez, ___ Organizations: PHILADELPHIA, Phillies, Arizona Diamondbacks, Chase Field, The Texas Rangers, Houston Astros, Citizens Bank, Team USA, ”, Philadelphia Inquirer, Miami, Braves, Diamondbacks, MLB, NEXT Locations: Philadelphia, Philly, United States, Miami, Arizona, Nola, Texas

☆ Opinion | Jane Austen’s English Countryside Is Not Mine
▼ + stars: | 2023-07-29 | by ( Rebecca Smith | ) www.nytimes.com time to read: +1 min

My childhood was spent making dens in the hidden corners of the landscaped gardens of a grand country estate in the Lake District. I wandered woods full of baby pheasants being fattened up for the shoot. I had lakes to paddle in and a dinghy that we bumped down the path to a private beach. First in Yorkshire, then in Bedford, then on Graythwaite Estate, in Cumbria in the Lake District. For centuries, it was not uncommon for the offer of a job in the English countryside to include accommodation.

Persons: —, didn’t Locations: Lake, England, Yorkshire, Bedford, Cumbria, Graythwaite

☆ Another Sign Beef Prices Could Keep Climbing
▼ + stars: | 2023-06-01 | by ( ) www.wsj.com time to read: 1 min

Live cattle futures reached a new all-time high Thursday, a sign that rising beef prices have further to climb. Live cattle refer to cows that have been fattened at feedlots to a suitable heft for slaughter. August futures, the most actively traded, traded at $1.72 a pound, topping the high of $1.71 set in 2014.

Locations: feedlots

☆ Shrinking US cattle herd squeezes meatpacker profits
▼ + stars: | 2023-05-04 | by ( Tom Polansek | ) www.reuters.com time to read: +5 min

Cargill, the world's largest ground beef producer, expects cattle prices will rise further, but it is still a question whether higher beef prices will ruin consumers' appetites, company executives said. Big profits for meatpackers during the pandemic and soaring beef prices fueled concerns in the Biden administration about consolidation and profiteering in the sector. The companies say supply and demand determine cattle and beef prices. In 2023, "the cattle feeder can negotiate more of the consumer dollar," said Brett Gottsch, managing partner Gottsch Cattle Co, which raises cattle in Nebraska. Gottsch remains concerned about a lack of competition among meatpackers, though others said surging cattle prices show the market works.

☆ Romance Scams Are Booming — Especially on Facebook and Instagram
▼ + stars: | 2023-03-20 | by ( Eve Upton-Clark | ) www.businessinsider.com time to read: +13 min

Americans lost $1.3 billion to romance scams last year — an 164% increase from 2019 — and $3.3 billion in total since the start of the pandemic. According to the FTC report, the most popular way scammers reached out to their victims last year was through Instagram (29%) and Facebook (28%). And as these schemes get more widespread and more complex, the number of people falling for romance scams keeps growing. Confluence of crypto and romanceIf loneliness was the reason "why" for the soaring number of romance scams, then crypto is the "how." 1 payment method for romance scams last year was cryptocurrency.

☆ Foie gras or 'faux gras'? Paris chef offers festive vegan alternative
▼ + stars: | 2022-12-16 | by ( ) www.reuters.com time to read: +2 min

French chef Fabien Borgel, who manages the "42 Degres" vegan restaurant in Paris, created what he calls a "faux gras" two years ago as a substitute to the foie gras traditionally made from fattened duck and goose livers. Foie gras is considered part of France's culinary heritage, but the practice of force-feeding ducks or geese to enlarge their livers is condemned by animal activists. "You have people that have never tasted foie gras and will never taste it and they want something festive for the year-end parties. Borgel's veggy foie gras, containing cashew nuts, sunflower and coconut oil, looks like the traditional foie gras but is more creamy. A poll released by French foie gras producers on Wednesday showed 77% of domestic consumers were not ready to switch from the original to one made from plant-based products.

And some members of the general public, too, are squeamish about cell-cultured meat. Caution isn’t necessarily a bad thing, but these critiques of cell-cultured meat are just thinly disguised neophobia — people just feel it is “unnatural.” Cell-cultured meat indeed comes from labs, not farms. To no one’s surprise, cell-cultured meat also faces criticism from some animal rights activists, albeit for a very different reason: because cell cultivation requires starter cells taken from actual animals, cell-cultured meat isn’t completely cruelty-free. And with time, cell-cultured meat may become nutritionally superior to meat from slaughtered animals anyway. No, cell-cultured meat, as we currently know it, isn’t perfect.

☆ Wall Street is completely delusional about the pain that's about to hit the stock market
▼ + stars: | 2022-09-25 | by ( Linette Lopez | ) www.businessinsider.com time to read: +6 min

Despite this clear warning, Wall Street is still delusionally optimistic about how the stock market will perform in 2023. According to Bloomberg, Wall Street analysts expect S&P 500 companies' earnings per share to hit $229 in 2023 — a steady increase from their initial 2023 estimate of $211 at the start of this year. Pretend it's the end of 2019 — not a terrible time for the stock market and the US economy. Even if corporate profits sink back down to that healthy level, it's still a long way down from where the stock market sits right now. All the visuals you've seen of a screaming-red stock market and sweaty traders doing the sign of the cross — those are just the beginning.

Organizations: & ' $ $

☆ Kenya: Drought and soaring grain prices fuel insecurity
▼ + stars: | 2022-08-02 | by ( Sam Kiley | ) edition.cnn.com time to read: +8 min

Just as in west Africa, Kenya's problems are being deepened by climate change. A malnourished child being measured in Ileret, northern Kenya. Members of Akuagok's tribe, the Daasanach, crowded around her shouting their own stories of loss -- loss of friends to illness perhaps caused by hunger, loss of animals, and how now, even when they make a very little cash, it's never enough to get by. A mother feeding her malnourished child in Ileret, northern Kenya. The combination of drought, soaring food and fuel prices due to a distant war, a burgeoning population, and civil wars on Kenya's doorstep is an incendiary mix.

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