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A majority of respondents — 61% — in the latest CNBC Delivering Alpha Stock Survey believe the broader market has run too far, too fast heading into the second quarter and a pullback is near. The S & P 500 is up more than 9% in the first quarter, which would be its best start to a year since 2019. When it comes to investing domestically 26% said the Nasdaq 100 was the best place to be compared to 13% from the S & P 500. That stock is up 245% in a year and 120% in six months far outpacing every other stock in the S & P 500 except for Super Micro Computer . The rest think we're more likely to be in the 5%-to-10% range for an annual return for the S & P in the next decade.

Persons: Jerome Powell, mangers, they'd Organizations: CNBC, Alpha Stock Survey, Federal Reserve, Nasdaq, bitcoin, Investors, Nvidia, Micro Locations: Japan, United Kingdom, Europe, Canada, South Korea, United States, China

☆ Your local Walgreens might be closed this week. Here's why pharmacy workers are walking off the job.
▼ + stars: | 2023-10-09 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +4 min

Pharmacy staff at dozens of Walgreens locations have walked off the job over workplace conditions. AdvertisementAdvertisementPharmacy staff at dozens of Walgreens locations walked off the job Monday, calling for increased staffing levels and improved safety policies. Walgreens has approximately 9,000 locations across the US, and a comprehensive list of affected locations was not available as of Monday morning. Pharmacy workers at CVS locations in Kansas City walked off the job in September over similar issues of unsafe and stressful workplace conditions. AdvertisementAdvertisementHogue also said that the APhA supports workers who have decided to "pull back from unsafe work conditions," such as harassment and understaffing.

Persons: Walgreens, —, undertrained, Michael Hogue, Hogue, I'm Organizations: Walgreens, Service, American Pharmacists, Pharmacy, Kansas City, Kansas City Star Locations: Kansas

"The recent decline in European luxury stocks reflects the uncertainty over the European economy and also the uneven growth outlook for the Chinese economy," Garnry said. Reuters GraphicsTHE LUXURY GAPAlthough luxury valuations have come down, they are still well above the rest of the market. The end of the French luxury group's 2-1/2 year-long reign was widely put down to investors losing appetite for luxury stocks as well as the growth of Novo's anti-obesity drug Wegovy. Some analysts have turned cautious on the luxury sector, with UBS last week reducing its estimates to account for the risk of slowing Chinese consumption. Gerry Fowler, head of European equity strategy and global derivative strategy at UBS, said risks in luxury stocks started to become more apparent in May.

Persons: Louis, Stephanie Lecocq, Bernard Ahkong, Peter Garnry, Garnry, LVMH, Morgan Stanley, Gerry Fowler, Bernstein, Gilles Guibout, Lucy Raitano, Mimosa Spencer, Amanda Cooper, Alexander Smith Organizations: REUTERS, Paris Fashion, U.S, UBS O'Connor Global, Alpha, Saxo Bank, Reuters Graphics, GAP, Novo Nordisk, UBS, Bank of America, AXA Investment Mangers, Thomson Locations: Paris, France, PARIS, Europe, U.S, China, United States

☆ Donald Trump's favored inflation gauge? Bacon.
▼ + stars: | 2023-09-18 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

Donald Trump pointed to the rising cost of bacon as evidence for inflation. "Bacon is up five times… food is up horribly, worse than energy," he told NBC Sunday. Sliced bacon prices have actually only risen by about 12% since Trump left office. "Bacon is up five times… food is up horribly, worse than energy," he added. AdvertisementAdvertisementPerhaps the Donald Trump Bacon Index will one day join those two in the pantheon of great food-based economic metrics.

Persons: Donald Trump, Bacon, Trump, NBC's, Kristen Welker, Joe Biden's, hasn't, Donald Trump Bacon Organizations: NBC, Service, Sunday, Bureau of Labor Statistics –, Federal, Republican, Bloomberg, London and Locations: Wall, Silicon, Pret, London, London and New York

☆ Texas AG Ken Paxton’s impeachment trial is on the brink of a verdict as senators end deliberations
▼ + stars: | 2023-09-16 | by ( ) www.cnbc.com time to read: +6 min

The Texas Senate on Saturday ended deliberations over whether Attorney General Ken Paxton should be removed from office, putting the Republican's historic impeachment trial on the brink of a verdict. Paxton, who did not attend the majority of the two-week trial, was not seen in the chamber as some senators wandered around their desks. If convicted, Paxton would become Texas' first statewide official convicted on impeachment charges in more than 100 years. Leaning into divisions among Republicans, Buzbee portrayed the impeachment as a plot orchestrated by an old guard of GOP rivals. The verdict will be decided by 30 of the 31 state senators, most of them Republicans.

Persons: Ken Paxton, Paxton, Donald Trump, mangers, Andrew Murr, Tony Buzbee, Buzbee, George P, Bush, George W, Sen, Angela Paxton, Austin, Nate Paul, Paul, Drew Wicker, Paxton's, Wicker, Nate, general's Austin, Laura Olson, Olson, ___ Organizations: Texas Senate, Texas Capitol, Texas, FBI, Republican, Texas House, Texas Ranger, Republican Party Locations: Texas, U.S, San Antonio

☆ SpaceX, NASA delay astronaut launch for ‘additional analysis’
▼ + stars: | 2023-08-25 | by ( Jackie Wattles | ) edition.cnn.com time to read: +2 min

CNN —A SpaceX and NASA mission that was set to launch four astronauts — representing four nations and space agencies across the globe — to the International Space Station was abruptly called off Thursday evening. The astronauts’ SpaceX Crew Dragon spacecraft had been slated to launch atop a SpaceX Falcon 9 rocket from NASA’s Kennedy Space Center in Florida at 3:50 a.m. Once at the space station, Moghbeli, Mogensen, Furukawa and Borisov will join the seven astronauts already on the orbiting laboratory. The Crew-7 astronauts will spend about five days taking over operations from the SpaceX Crew-6 astronauts, who have been on the space station since March. This mission will mark the eighth flight operated by NASA and SpaceX as part of the agency’s commercial crew program, which has been ferrying astronauts to the space station since SpaceX’s first crewed mission in 2020.

Persons: NASA’s, “, Rob Navias, mangers, NASA’s Jasmin Moghbeli, Andreas Mogensen, Satoshi Furukawa, Konstantin Borisov, Furukawa, Borisov Organizations: CNN, SpaceX, NASA, International, NASA’s Kennedy Space Center, Twitter, US Space Force, European Space Agency, Japan Aerospace Exploration Agency, JAXA, Roscosmos Locations: Florida, Danish, Russian

Like many, they home in on the outsized drop in used-car prices - one of the key aggravators of 'core' inflation that at 4.8% is still well above the now sub-3% headline CPI rate. Pointing to four straight months of ebbing 'trimmed mean' inflation measures of core inflation - which strip out high and low outliers - the Morgan Stanley team doubt June was a bum steer and see core disinflation more "a trend rather than a headfake". Inflation surprisesFed estimates of R* natural interest rateReuters Graphics Reuters GraphicsR-STAR GAZINGOthers doubt the optimism, of course. And it's the latter that homes in on the prospect of an inflation undershoot. Further Fed tightening after this month, then, could well see markets start to consider inflation actually undershooting 2% targets after all - but dragging recession back onto the dashboard to boot.

Persons: it's, Morgan Stanley, Christopher Waller, Guneet Dhingra, Allen Liu, Janet Yellen jived, Mike Dolan Organizations: Federal Reserve, Reuters, Barclays, Global, Bank of America, Treasury, Twitter, Thomson Locations: Ukraine, Intriguingly

☆ A psychiatrist charges $700 hourly to Wall Street elites who are 'terrified of being exposed' for drug and sex addictions
▼ + stars: | 2023-07-14 | by ( Will Gendron | ) www.businessinsider.com time to read: +5 min

Among high-powered finance executives, mental health struggles and addiction can be seen as taboo. Dr. Sam Glazer specializes in this clientele, charging $700 for a 45-minute session, WSJ reported. These executives are willing to spend on Glazer's expertise, who charges $700 for a 45-minute session, the Journal reported. "I've seen a lot of people who are high functioning in the upper levels of finance who are terrified of being exposed," Glazer told the WSJ. "They are completely honest with me in my office," he told Insider.

Persons: Sam Glazer, —, Glazer, Alden Cass, Cass, It's, Today undercuts Organizations: Morning, Wall Street, NYU, Deloitte, Finance, Today

☆ Some startups are selling at 80% discounts as investors finally come to terms with the collapse in valuations across the tech industry
▼ + stars: | 2023-05-02 | by ( Darius Rafieyan | ) www.businessinsider.com time to read: +5 min

As valuations drop, investors are increasingly looking to the secondary market to sell their startup shares. This scramble to cash out has led to a steep drop in prices for secondary transactions. With secondary transactions, investors can sell all or part of their stake in a VC fund in order to realize gains earlier than they otherwise would. In some cases, he says, StepStone has even acquired startup shares on the secondary market at prices 80% below their most recent funding rounds. Secondary investors came into 2023 sitting on $131 billion in dry powder, according to a survey from investment advisory firm Evercore.

A Reuters review of testimony, previously unreported public documents and interviews with elected leaders, lobbyists and attorneys detail mounting challenges to many pending anti-ESG bills. The tussles have financial implications for some of the largest investment firms that manage billions of dollars for state pension plans. Lauren Doroghazi, senior vice president at government relations consultant MultiState Associates, said the debates show lawmakers coming to terms with the anti-ESG bills' practical impact. Several public pension systems raised concerns about it, including the largest, the $182 billion Texas Teacher Retirement System (TRS). For instance, if federally-regulated local banks faced new national rules on an issue like climate change disclosures, banks would need special permissions from local officials to keep public business in Utah he said.

The PMI was driven by the services sector as consumer spending on travel, leisure and entertainment showed strength while manufacturing remained weak. S&P Global's input price index - a good guide to future inflation pressures - showed the slowest growth in costs for firms since March 2021, although overall cost pressures remained high by historical standards. There were also signs of recovery in Friday's consumer confidence survey by polling firm GfK which rose to its highest since February last year, albeit to weak levels. There was a reminder of the problems facing many consumers in official retail sales data also published on Friday. "A strong performance from retailers in January and February means the three-month picture shows positive growth for the first time since August 2021," he said.

☆ London stocks fall as fears of a banking crisis linger
▼ + stars: | 2023-03-24 | by ( Shashwat Chauhan | ) www.reuters.com time to read: +2 min

SummarySummary Companies Banks fall as fears of a banking crisis spikeEnergy down tracking lower oil pricesUK Feb retail sales rise unexpectedlyFTSE 100 down 1.4%, FTSE 250 off 1.0%March 24 (Reuters) - London stocks fell on Friday, dragged by energy shares that tracked oil prices lower, while banks extended declines at the end of a turbulent week as fears of a global banking crisis lingered. The blue-chip FTSE 100 (.FTSE) fell 1.4%, extending losses after a near 1% drop on Thursday. British banks (.FTNMX301010) lost 2.7%, falling for a third straight session, joining their European peers in Friday's slide. Energy majors Shell (SHEL.L) and BP (BP.L) fell 2.5% and 2.5%, respectively, dragging the broader energy sector (.FTNMX601010) down 2.5%, as oil prices extended losses on worries about a potential oversupply. Reporting by Shashwat Chauhan in Bengaluru; Editing by Subhranshu Sahu and Savio D'SouzaOur Standards: The Thomson Reuters Trust Principles.

☆ How to get a boost on Instagram? Post 6 stories a day and use its in-app tools, says an influencer who meets regularly with the company. Here's her other advice.
▼ + stars: | 2023-03-24 | by ( Nhari Djan | ) www.businessinsider.com time to read: +6 min

Some of her tips include posting six Instagram stories a day and posting to the grid once a day. Instagram is pushing content made using its own in-app tools and features, according to a creator who got a rundown from the company. Marietta said the Instagram partner manager she spoke with explained that Instagram is working on its editing tools. Instagram also wants creators to use its other in-app features, including its trending audio instead of "outside music," per Marietta. While nine hashtags on a post used to be ideal, Instagram now suggests three to five hashtags, Marietta said.

☆ Wall St regulator mulls ditching array of paper forms
▼ + stars: | 2023-03-22 | by ( ) www.reuters.com time to read: +1 min

March 22 (Reuters) - The top U.S. markets regulator on Wednesday unveiled a proposal to abolish a set of paper-based forms and digitize disclosure requirements to modernize how broker-dealers, stock exchanges, clearing agencies and others report to the government. The forms include annual compliance reports by securities-based swap dealers and risk assessments by broker-dealers. Under the proposal, securities exchanges could simply update their websites when they begin trading in new derivatives. The SEC decided the proposed text was not ready for adoption, a spokesperson said. Reporting by Douglas Gillison; Editing by Richard ChangOur Standards: The Thomson Reuters Trust Principles.

☆ An Instagram influencer shares her 4 key takeaways from private meetings with the company, including that using in-app tools will get you a boost over using others like ByteDance's CapCut
▼ + stars: | 2023-03-16 | by ( Nhari Djan | ) www.businessinsider.com time to read: +6 min

Some of her tips include posting six Instagram stories a day and posting to the grid once a day. Influencer Amy Marietta shared this in a TikTok post describing her takeaways from a meeting she had with Instagram earlier this week. (In her original TikTok, Marietta said the new guidance was once a day, but she corrected herself in a follow-up video.) Although Instagram typically pays creators more than TikTok, Marietta said creators may still choose to put their effort into other platforms. "I don't think people are going to stop spending as much time on TikTok and go focus on Instagram," Marietta said.

☆ POLL Global stocks to correct in short term as inflation weighs
▼ + stars: | 2023-02-23 | by ( Hari Kishan | ) www.reuters.com time to read: +4 min

Summary poll datahttp://tmsnrt.rs/2nHJiJ9BENGALURU, Feb 23 (Reuters) - Global stock markets are expected to correct in the next three months as investors digest the fact that interest rates are likely to stay higher for longer, according to a Reuters poll of equity analysts. The poll showed a majority would fall short, or just about recoup their 2022 losses by the end of the year. Stocks have rallied about 20% in recent months and some strategists say that the market has gone too far. "Valuations are stretched across equity markets after the rally year-to-date. A stronger 70% majority of analysts, 57 of 82, expected value stocks to outperform growth stocks this year.

☆ Morning Bid: Blue chips cheered up
▼ + stars: | 2023-02-23 | by ( ) www.reuters.com time to read: +5 min

[1/2] The logo of technology company Nvidia is seen at its headquarters in Santa Clara, California February 11, 2015. Its CEO Jensen Huang said use of its chips to power AI had "gone through the roof in the last 60 days." The Federal Reserve at least seems keen on the higher-for-longer message that's shaken world stock and bond markets this week. And as the minutes pre-date red-hot jobs and retail data for January, the message from Fed officials is probably even sterner now. A Reuters poll of equity analysts showed global stock markets are expected to correct in the next three months.

☆ There's a new most crowded trade on Wall Street — and it's not in the U.S.
▼ + stars: | 2023-02-14 | by ( John Melloy | ) www.cnbc.com time to read: +2 min

The most crowded trade on Wall Street is "long China equities," according to the latest Bank of America Fund manager survey. Twenty-one percent of respondents to the February survey said that was the investment with the most enthusiasm... perhaps too much. Still, the "most crowded" trades in the survey, which is among the most followed on Wall Street, can stay that way for long stretches. Long China displaces "long U.S. dollar," which was the most crowded trade for the prior seven months in the survey. China equities traded in the U.S. were under pressure for a number of reasons, including the country's Covid lockdowns, as well as tighter scrutiny of its homegrown internet businesses.

☆ German recession 'very unlikely' given brighter business sentiment, Ifo head says
▼ + stars: | 2023-01-25 | by ( Jenni Reid | ) www.cnbc.com time to read: +3 min

A January Ifo survey showed improved sentiment among German businesses. Tobias Schwarz | Afp | Getty ImagesGerman business sentiment improved in January, according to a widely watched survey from the Munich-based Ifo Institute — in a prospective sign that Europe's largest economy could swerve a recession. Ifo's Business Climate Index rose to 90.2 points from 88.6 points previously on "considerably less pessimistic expectations," a release said. "The expectation was that there might be a recession in the fourth quarter of '22 and the first quarter of '23. Fuest said a number of factors were improving within German manufacturing, including energy prices and supply chain bottlenecks easing.

☆ This fund partially dodged market volatility by leaning on fixed income in 2022
▼ + stars: | 2023-01-02 | by ( Alex Harring | ) www.cnbc.com time to read: +5 min

But the Janus Henderson Investors' Balanced Fund has been able to shield itself from at least part of the year's volatility by reducing exposure to equities and leaning more on fixed income. Fixed income accounted for about 44%. "This year has been tricky, obviously, because there's been such a high correlation between fixed income and equity returns," he said. Within fixed income, Buckley said the fund has been more conservative by reducing exposure to corporate credit. Despite the challenges of 2022, Buckley is optimistic about 2023.

☆ 24 top sports managers and agents helping athletes from LeBron James to the Cavinder twins build successful careers as content creators
▼ + stars: | 2022-12-15 | by ( Colin Salao | Ashley Rodriguez | Elaine Low | ) www.businessinsider.com time to read: +3 min

Stars like LeBron James and Kevin Durant have shown that athletes can build lucrative media businesses. Meet the people helping athletes tell their stories and build their brands off the field or court. Many of these athletes are driven by the behind-the-scenes work of their talent managers and agents. Insider is highlighting for the first time those talent managers and agents who are guiding athletes as they build successful careers in entertainment and content creation. These people are helping athletes elevate their social content, strike brand deals, launch podcasts, or break into TV and film.

☆ The Fed has to portray itself as tough on inflation even as it pushes through a smaller rate hike
▼ + stars: | 2022-12-13 | by ( Patti Domm | In | ) www.cnbc.com time to read: +3 min

"The Fed has been saying for some time that it wants to slow the pace of tightening. The fed funds target rate range is currently 3.75% to 4%. "But then the press conference would cause a bit of a whipsaw if he sounds hawkish," she said. "I think the most interesting thing will be the press conference," said Rick Rieder, BlackRock chief investment officer of global fixed income. "I think we've heard two different types of sentiment from the chair between the latest press conference and Brookings."

REUTERS/Alexandre MeneghiniLONDON, Sept 16 (Reuters) - The puzzle facing the zinc market is whether demand or supply will fall hardest this year. LME zinc fund net positioningLOW STOCKSThe outright price is falling despite low exchange inventory. Fastmarkets assessments of Antwerp and Italy premiumsSUPPLY HITEurope is at the epicentre of the global zinc supply hit as smelters struggle to cope with soaring power prices. SHIFTING BALANCEZinc's micro dynamics are shifting fast and at the moment it seems that the demand hit is outpacing the supply hit. It's the demand outlook that's weighing on the outright zinc price.

☆ A federal court ordered a New Jersey company and its co-managers to pay $712,000 to staff for deliberately denying overtime pay
▼ + stars: | 2022-02-11 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

A New Jersey company violated labor laws by not paying staff for the full hours they worked, the DOL said. The firm also failed to keep accurate records of staff hours and wages, the DOL said in a lawsuit. A federal court ordered the company and its co-managers to pay staff $712,000 in back wages and damages. Employees regularly worked between 45 and 54 hours a week, but the company didn't pay staff extra for overtime, the DOL said. The company paid staff in cash for overtime hours and told them not to clock out "to conceal the fact that employees worked more than forty hours a week," per the lawsuit.

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