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☆ US stocks rally as investors brace for presidential election outcome
▼ + stars: | 2024-11-05 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +2 min

New York CNN —US stocks rallied Tuesday as Wall Street awaited the results of a closely contested presidential race. “While it’s still anyone’s call on where the chips will fall on the election, putting it behind in either direction is a relief.”Historically, stocks have often risen on Election Day. This marks the sixth-straight Election Day gain for the S&P 500 and Nasdaq. “With Election Day finally here, expect more market volatility, particularly if the wait for a result is long or contested. Just two days after Election Day, the Federal Reserve will announce its latest interest rate decision, the first since cutting rates by half a point.

Persons: Dow, ”, Louis Navellier, Kamala Harris, Donald Trump, Joe Biden, George W, Bush, Al Gore, Adam Turnquist, Gore, ” Turnquist Organizations: New, New York CNN, Nasdaq, Navellier, Associates, LPL, Federal Reserve Locations: New York

☆ Nvidia will be in the spotlight next week as Wall Street wraps up a tumultuous August
▼ + stars: | 2024-08-23 | by ( Sarah Min | ) www.cnbc.com time to read: +6 min

NVDA YTD mountain Nvidia Wall Street is bullish heading into Nvidia's earnings results next week, figuring any hiccups to its next generation AI chips does little to dim the earnings potential of a company that essentially has a monopoly on the market. Economists polled by FactSet anticipate PCE to show increases of 0.2% month on month and 2.6% from the year-earlier period. Wall Street anticipates that stocks could go higher from here, though the road from now to the end of the year could be bumpy. Other notable earnings results include tech names Salesforce and CrowdStrike, as well as consumer names such as Campbell Soup, Dollar General and Ulta Beauty. Earnings: Nvidia , Bath & Body Works , J. M. Smucker , Salesforce , CrowdStrike , NetApp , HP Thursday Aug. 29 8:30 a.m.

Persons: Nvidia's, chipmaker, they've, Harsh Kumar, Piper Sandler, Blackwell, Jensen Huang, Jim Cramer, Kumar, Louis Navellier, Jerome Powell, Jackson, Powell, FactSet, David Miller, Miller, Kamala Harris, Donald Trump, He's, Campbell, Lululemon Organizations: Nvidia, Blackwell, Navellier, Associates, Federal Reserve, PCE, Nasdaq, Dow Jones, U.S, Catalyst Funds, Ulta, Dallas Fed, Richmond Fed, Body, HP, Autodesk, PCE Deflator, Chicago PMI Locations: Russia, Ukraine, Chicago, Michigan

☆ Stock market today: Indexes close mixed before fresh inflation data
▼ + stars: | 2024-08-12 | by ( Max Adams | ) www.businessinsider.com time to read: +2 min

New inflation data will arrive on Tuesday with the producer price index report for July. AdvertisementUS stocks wavered on Monday, struggling to keep the rally that materialized at the end of last week going ahead of new inflation data for July. On Tuesday, investors will digest the first of two inflation data points due out this week. The producer price index, a measure of wholesale inflation, is expected to be in-line with the June data at 0.2%. The second update will be the main event, with the consumer price index set to show the rise in inflation faced by the average consumer last month.

Persons: —, Louis Nevallier Organizations: Traders, Service, Fed, Pentagon Locations: Here's, Iran, Israel, Tehran

☆ 'Sell the first rate cut': Bank of America's top global strategist warns stocks could be in for trouble as the economy heads toward a hard landing and the Fed gets set to slash rates
▼ + stars: | 2024-08-06 | by ( William Edwards | ) www.businessinsider.com time to read: +4 min

In an August 1 note to clients, the bank's top global strategist urged investors to sell stocks when the Federal Reserve issues its first rate cut. Hartnett and his team studied the last 12 rate-cutting cycles going back to 1970 and identified three varieties of rate cuts. Hartnett said surging global central bank rate cuts are signs that the economy is in for a rough stretch. Investors expect the Fed to cut rates for the first time this cycle at its September meeting. "Emergency Fed rate cuts being priced in makes little sense given the economic backdrop in the U.S. and would only serve to destroy policy maker credibility."

Persons: —, America's Michael Hartnett, Hartnett, Louis, Jean, Louis Nakamura, Michael Kantrowitz, Piper Sandler, Kantrowitz, Hartnett's, Jim Smigiel Organizations: Service, America's, Federal Reserve, Business, Bank of America Bank of America, Bank of America, Louis Fed, Bank of America's, Global, SEI Locations: U.S

☆ These stocks will be the winners and losers of rising U.S.-China trade tensions, Wall Street says
▼ + stars: | 2024-07-19 | by ( Weizhen Tan | ) www.cnbc.com time to read: +5 min

For Europe, the prime concern is tariffs," wrote Goldman analysts. "If the entire impact came in 2025 this would be enough to eliminate any growth that year (our current top-down forecast is 4%)," Goldman wrote. Within sectors, beneficiaries of rising trade risks tend to be defensive stocks such as utilities, health care as well as Europe's GRANOLAS stocks, according to the bank. But he says a "meaningful selloff" in mega tech will see other names "pushed down as collateral damage." And if the AI narrative plays out as expected, a material sell-off in Mega Tech will present a buying opportunity in those names as well," he wrote.

Persons: Biden, Donald Trump, Trump, Europe's, Goldman Sachs, Goldman, Louis Navellier, — CNBC's Michael Bloom Organizations: Bloomberg, Taiwan, Trump, U.S, JPMorgan, China Gas, Power, Huaneng, Republicans, National Security, Hire, GSK, Roche, ASML, Nestle, Novartis, Novo Nordisk, L'Oreal, LVMH, AstraZeneca, SAP, Sanofi, Liquide, Tobacco, Dassault Systemes, Intercontinental Hotels, Nvidia, Navellier, Associates, Mega Tech Locations: China, Taiwan, U.S, Hong Kong, Europe, United States, Germany, France, Stellantis

☆ Dow slides by more than 450 points and tech stocks continue to sell off
▼ + stars: | 2024-07-18 | by ( Krystal Hur | ) edition.cnn.com time to read: +1 min

New York CNN —US stocks sold off broadly Thursday as Wall Street continued to shed tech stocks. The Dow fell 464 points, or 1.1%, retreating from a record high reached a day ago. Investors have this week moved out of the Magnificent Seven tech stocks that powered the market to repeated record highs this year. Shares of smaller companies that tend to do well in a lower-rate environment began rallying last week, helping the Dow reach fresh highs. Tech stocks also took a hit this week after Bloomberg reported Tuesday that the Biden administration is mulling plans to impose more sanctions on Chinese tech firms and to heighten semiconductor trade restrictions between the US and China.

Persons: Dow, ”, Louis Navellier, Russell, Tesla, Biden Organizations: New, New York CNN, Nasdaq, Wednesday . Energy, Navellier, Associates, Federal Reserve, Dow, Nvidia, Microsoft, Meta, Tech, Bloomberg Locations: New York, China

☆ What a Trump presidency could mean for the dollar and the stock market
▼ + stars: | 2024-07-09 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

There are other reasons the dollar has been propelled higher as some European and Asian currencies have seen lackluster growth. A strong dollar makes US exports more expensive and reduces the profits of American companies operating overseas when earnings are converted back to dollars. And while a strong dollar lowers the cost of imported raw materials, it can boost inflation and hurt foreign investments. The families of victims of two fatal crashes of the 737 Max oppose the deal, the department said. Beyond the fatal crashes of the 737 Max jets, the company has faced a series of questions about the safety and quality of its planes.

Persons: it’s, Donald Trump, Joe Biden, Trump, ”, Lisa Shalett, Morgan Stanley, Louis Navellier, Jeanne Sahadi, Read, Max, Chris Isidore Organizations: CNN Business, Bell, New York CNN, Federal Reserve, Fed, Republican, Morgan Stanley Wealth Management, Navellier, Associates, New York Federal Reserve, Boeing, Justice Department, Alaska Airlines Locations: New York, ”, China, Japan, United States

☆ There's a major bottleneck in AI data center expansion, analysts say. Here's how to play it
▼ + stars: | 2024-07-09 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

One area is causing a major bottleneck in data center expansion and the energy transition, according to several analysts: the power grid. Morningstar said in its third-quarter equity market outlook last week that: "The grid is the biggest bottleneck of the energy transition. Over in China, there are also targets to accelerate the "intelligent transformation" of grid infrastructure and the construction of smart micro-grids, the bank said. Over in China, HSBC likes one Chinese stock to play the power grid infrastructure bottleneck. There's also one exchange-traded fund that tracks the sector: the First Trust Nasdaq Clean Edge Smart Grid Infrastructure UCITS ETF , which tracks the performance of stocks in the grid and electric energy infrastructure sector.

Persons: Morningstar, Louis Navellier, There's Organizations: Citi, Veolia, HSBC, Navellier, Associates, Emcor, Infrastructure Locations: United States, New York , California, Europe, China, RWE

☆ The Nvidia spell has been broken. Here’s what could come next
▼ + stars: | 2024-06-26 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

London CNN —Nvidia, Nvidia, Nvidia. Nvidia’s stock bounced back Tuesday, yet investors have been reminded of a potentially bubble-bursting truth: You can fly too close to the sun. For context, it took Warren Buffett about 60 years to build Berkshire Hathaway into a nearly trillion dollar company. But typical volatility can have seismic repercussions when it comes to a stock as all-consuming as Nvidia. Analysts at The Carlyle Group say that while artificial intelligence is revolutionizing the world around us, the Nvidia stock bubble will eventually burst.

Persons: Warren Buffett, Berkshire Hathaway, Microsoft’s, ”, Jim Smigiel, Louis Navellier, Nvidia’s, ” Jochen Stanzl, Emily Bowersock Hill, Jason Thomas, Carlyle’s, ” Neil Roarty, Stocklytics, —, Levi’s, “, LEVI, ” Read, Ryan Callahan, ” Callahan, CDK, Tom McParland Organizations: CNN Business, Bell, London CNN, Nvidia, Berkshire, Deutsche Bank, SEI, Navellier, Associates, CMC, CNN, Bowersock Capital Partners, The Carlyle Group, ’ Association, Mazda, North America, Automatic Consulting Locations: London, Turkey, Istanbul, Seekonk , Massachusetts

☆ Dow falls by more than 600 points as markets continue to fret about a rate cut
▼ + stars: | 2024-05-23 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +2 min

New York CNN —The Dow tumbled by more than 600 points Thursday afternoon as all three major indexes moved lower, even after AI-darling Nvidia delivered stellar quarterly earnings and announced a 10-for-1 stock split. Chipmaker Nvidia soared more than 9% as the wider market dropped lower, highlighting a lack of market breadth. The S&P 500 and Nasdaq Composite, which began the day at new intraday highs, fell by 0.8% and 0.5%, respectively. “I think we’re set up for stickier inflation.”“The bond market set the dour mood that we see across much of the market,” wrote Interactive Brokers chief strategist Steve Sosnick on Thursday. “Coming on the back of yesterday’s ‘higher for longer’ Fed Minutes, bond traders were in no mood to hear about a strengthening economy,” wrote Sosnick.

Persons: Dow, ”, Louis Navellier, Goldman Sachs, David Solomon, “ I’m, “, Steve Sosnick Organizations: New, New York CNN, Nvidia, Nasdaq, “ Tech, Navellier, NVIDIA, Federal Reserve, resurging, Boston College, Interactive Brokers, Treasury, ’, ” Boeing Locations: New York

☆ South Africa has one of the world’s largest manganese reserves. So why does it outsource for processing?
▼ + stars: | 2024-04-30 | by ( Jackelyn Prager | ) edition.cnn.com time to read: +5 min

CNN —On delivery day at the Manganese Metal Company’s industrial complex in Mbombela, South Africa, truckloads of manganese ore from the Kalahari Basin in the Northern Cape are ushered inside for processing. South Africa has the world’s largest manganese reserves; however, the International Manganese Institute estimates only 2% of the manganese ore produced within the country is locally processed. The Manganese Metal Company says it receives 80,000 tons of ore every year, with plans to build a $25 million commercial processing plant by the end of 2026. With an abundance of manganese reserves, South Africa has potential to become a leader in high purity manganese sulfate production, but d’Harambure says “issues with the electricity sector in South Africa” and “an increase in electricity prices” have made it difficult to produce manganese chemicals and alloys there. Green potentialThese obstacles are not stopping the Manganese Metal Company from trying to capitalize on the EV boom and expand its processing facilities.

Persons: Louis Nel, ” Nel, Aloys d’Harambure, Nel, ” d’Harambure, ”, d’Harambure, D’Harambure, It’s Organizations: CNN, International Manganese Institute, Metal, International Energy Agency, Metal Company, Employees, Manganese Locations: Mbombela, South Africa, Northern, EVs, China, Mexico, Australia, Europe, Africa

☆ Premarket stocks: Warren Buffett’s favorite indicator is flashing red
▼ + stars: | 2024-03-27 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

New York CNN —The “Buffett Indicator” is flashing red. If the stock market is growing a lot faster than the economy, that could be a sign of a bubble. Yes, but: The so-called Buffett Indicator is not without flaw. By the closing bell, Trump Media ended at $57.99, up by a more modest 16% on the day. He said Trump Media is likely worth somewhere around $2 a share — nowhere near its closing stock price of $58.

Persons: Warren Buffett, Fortune Magazine “, Berkshire Hathaway, John Hussman, Hussman, Larry Summers, “, ”, Louis Navellier, Goldman Sachs, Navellier, doesn’t, Buffett, they’re, Jamie Dimon, Kevin Gordon, Charles Schwab, Elisabeth Buchwald, Donald Trump’s, CNN’s Matt Egan, Jay Ritter, Ritter Organizations: CNN Business, Bell, New York CNN, Fortune Magazine, Nvidia, Federal Reserve, Bloomberg, Navellier, Associates, “, JPMorgan, CNBC, CNN, Visa, Mastercard, Court, Eastern, of, National Retail Federation, Trading, Trump Media & Technology Group, Trump Media, University of Florida’s Warrington College of Business, GameStop, AMC Locations: New York, of New York

☆ Here's where to invest $1 million right now, according to the pros
▼ + stars: | 2024-03-25 | by ( Weizhen Tan | ) www.cnbc.com time to read: +6 min

If you had a spare $1 million to invest right now, what should you buy? He would allocate roughly 60% into stocks this way: 15% each to U.S. large-cap growth stocks and U.S. large-cap value stocks; 4% to small-caps; and 8% to mid-caps. "We really believe in style diversification and feel that remaining diversified with value and growth stocks remains prudent," Benson said. With a million dollars to invest, it would be "reasonable" for investors to put their money in both small- and mid-cap stocks now, he said. The average amount of money that his clients invest is $1.3 million, and his firm manages over $1.2 billion.

Persons: Aaron Benson, Baird, Benson, Chris Fasciano, Shams Afzal, Afzal, Louis Navellier, they've, Navellier, Li Auto Organizations: U.S . Federal, CNBC Pro, Commonwealth Financial Network, Carnegie Investment, Navellier, Associates, Nvidia, Computer, Micro, Mexico's Vista Energy, Volkswagen, Alamos Locations: U.S, Mexico, India, China

☆ Sell Nvidia or stick with it? Here's what experts say
▼ + stars: | 2024-03-13 | by ( Weizhen Tan | ) www.cnbc.com time to read: +6 min

Here's what those who currently hold Nvidia shares are doing — or planning to do — with their positions. Sell at least some Some are saying it's time to sell or that they have already sold part of their Nvidia shares. Vahan Janjigian, chief investment officer at U.S.-based Greenwich Wealth Management, says he had a "big position" in Nvidia until recently. Paul Gambles, managing partner of MBMG Family Office Group, told CNBC Pro on Monday that he'd sell Nvidia right now. Stick with it Louis Navellier of Navellier and Associates is still fairly bullish, and says it's definitely not time to sell any Nvidia shares yet.

Persons: it's, Vahan Janjigian, CNBC's, Paul Gambles, Gambles, NVDA, Jordan Cvetanovski, Cvetanovski, I'm, we've, Craig Johnson, Piper Sandler, Louis Navellier Organizations: Nvidia, Greenwich Wealth Management, Trust, VanEck Semiconductor, Family, CNBC Pro, Sydney, Pella Funds Management, Navellier Locations: Pella

☆ Sell Nvidia or stick with it? Here's what investors say
▼ + stars: | 2024-03-13 | by ( Weizhen Tan | ) www.cnbc.com time to read: +6 min

Here's what those who currently hold Nvidia shares are doing — or planning to do — with their positions. Sell at least some Some are saying it's time to sell or that they have already sold part of their Nvidia shares. Paul Gambles, managing partner of MBMG Family Office Group, told CNBC Pro on Monday that he'd sell Nvidia right now. Stick with it Louis Navellier of Navellier and Associates is still fairly bullish, and says it's definitely not time to sell any Nvidia shares yet. After Nvidia's selloff, he reiterated his position, saying he has no plans to sell Nvidia.

Persons: it's, Vahan Janjigian, CNBC's, Paul Gambles, Gambles, NVDA, Jordan Cvetanovski, Cvetanovski, I'm, we've, Craig Johnson, Piper Sandler, Louis Navellier, Nvidia's selloff Organizations: Nvidia, Greenwich Wealth Management, Trust, VanEck Semiconductor, Family, CNBC Pro, Sydney, Pella Funds Management, Navellier Locations: Pella, NVDA

☆ This stock is even 'hotter' than Nvidia — and it's 'not that overpriced,' veteran investor says
▼ + stars: | 2024-02-27 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

That's Super Micro Computer , a Nasdaq-listed company which makes AI systems and graphics processing unit servers. Navellier, who has held shares of Super Micro Computer for over two years, told CNBC's " Street Signs Asia " that "Super Micro is hotter than Nvidia. There are only two companies that dominate in that area, according to him: Nvidia and Super Micro Computer. Wall Street analysts have also recently been giving Super Micro Computer their votes of confidence. Super Micro Computer received a 71% buy rating from analysts covering the stock, according to FactSet data.

Persons: there's, Louis Navellier, That's, CNBC's, Navellier, Rosenblatt, —, Samantha Subin, Hakyung Kim Organizations: Nvidia, Navellier, Associates, Nasdaq, Super, Computer, Micro, Wall Street, Bank of America

☆ CNBC Daily Open: U.S. economy sparks optimism
▼ + stars: | 2024-02-27 | by ( Sumathi Bala | ) www.cnbc.com time to read: +1 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Markets tumbleWall Street closed lower Monday as investors awaited inflation data due later this week. It's real," Dimon told CNBC, calling himself a "big optimist" on the emerging technology. That's Super Micro Computer, a Nasdaq-listed company which makes AI systems and graphics processing unit servers, highlighted Louis Navellier, chairman and founder of Navellier & Associates.

Persons: bitcoin, Dimon, Jamie Dimon, Gina Raimondo, Louis Navellier Organizations: CNBC, Dow Jones, Nasdaq, Revenue, optimist, Nvidia, Navellier, Associates Locations: U.S

☆ CNBC Daily Open: Upbeat sentiment over U.S. growth
▼ + stars: | 2024-02-27 | by ( Sumathi Bala | ) www.cnbc.com time to read: +2 min

Job seekers attend a Veteran Employment and Resource Fair in Long Beach, California, US, on Tuesday, Jan. 9, 2024. This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Growth would have been faster in the fiscal fourth quarter if not for a sales reorganization, the company said. That's Super Micro Computer, a Nasdaq-listed company which makes AI systems and graphics processing unit servers, highlighted Louis Navellier, chairman and founder of Navellier & Associates.

Persons: Dow, Dimon, Jamie Dimon, Taylor Swift, Louis Navellier Organizations: The Department of Labor, CNBC, CSI, Nikkei, Nasdaq, Revenue, optimist, Nvidia, Navellier, Associates Locations: Long Beach , California, Asia, Pacific, Singapore

☆ Premarket stocks: Magnificent Six? Fab Five? Some say the Seven are getting a shakeup
▼ + stars: | 2024-02-08 | by ( Krystal Hur | ) edition.cnn.com time to read: +7 min

New York CNN —Is Wall Street’s favorite clique of tech stocks in need of a makeover? Most of the Magnificent Seven stocks have reclaimed their leadership of the market this year, with shares of Nvidia, Meta Platforms, Alphabet and Microsoft reaching record highs. Many investors are skeptical that the Magnificent Seven will match their blockbuster gains from 2023, even if they continue their leadership this year. Jim Worden, chief investment officer at the Wealth Consulting Group, says he believes the group should consolidate to the “Fab Five,” which he classifies as the Magnificent Seven minus Tesla and Apple. “There is a big leadership change underway in the Magnificent Seven stocks,” wrote Louis Navellier, chairman of Navellier & Associates, in a note on Tuesday.

Persons: Jim Worden, ”, Worden, Michael Hartnett, Jim Cramer, Louis Navellier, “, Nancy Tengler, It’s, Walt, Gina Lee, Samantha Delouya, Disney, Ron DeSantis, Diksha Madhok, ” TSMC, Joe Biden, ” Read Organizations: CNN Business, Bell, New York CNN, Nvidia, Meta, Microsoft, Apple, Wealth Consulting, Bank of America, Facebook, Netflix, Google, Federal Reserve, Micro Computer, Navellier, Associates, EV, Disney, Walt Disney World, Disney Vacation, Taiwan Semiconductor Manufacturing Company, Semiconductor Manufacturing, TSMC, US Locations: New York, China, American, Orlando , Florida, —, Florida, Japan Chip, Japan, Arizona

☆ Tech stocks fuel market surge as jobs report underscores economy’s resilience
▼ + stars: | 2024-02-02 | by ( Krystal Hur | ) edition.cnn.com time to read: +3 min

New York CNN —US stocks rose on Friday as investors continued to parse strong tech earnings and a searing jobs report, leading shares of Nvidia, Meta Platforms and Microsoft to close at fresh highs. The S&P 500 gained 1.1% to reach a record-high close. Tech stocks were the winners of Friday’s session, following strong earnings reports from Meta Platforms and Amazon the prior evening. Amazon shares rose 7.9% after the e-commerce giant reported solid earnings for its latest quarter. Microsoft shares rose 1.8% to a fresh record-high close of $411.22.

Persons: market’s, Jerome Powell, ”, Louis Navellier, Russell, Janet Yellen Organizations: New, New York CNN, Nvidia, Meta, Microsoft, Dow, Nasdaq, Bureau of Labor Statistics, Fed, Navellier, Associates, Traders, Banking Committee, New York Community Bancorp Locations: New York

☆ Here's how to choose the right college, according to a professor and academic advisor with 40 years of experience
▼ + stars: | 2023-12-27 | by ( Louis Newman | ) www.businessinsider.com time to read: +5 min

Read previewOver the next couple of weeks, your college-bound kid will join millions of others applying to begin college next fall. Having spent 40 years as a college professor and academic advisor, I know what really matters when it comes to the quality of a college education. Academic advising is key to student success. AdvertisementSome colleges offer a living-learning community in which students take courses and live together. Louis Newman is the author of "Thinking Critically in College: The Essential Handbook for Student Success" and works as a College Success Coach.

Persons: —, I've, Louis Newman Organizations: Service, Business, National Survey

☆ An Ex-Detective’s Overturned Murder Cases Have Cost New York $110 Million
▼ + stars: | 2023-11-20 | by ( Frances Robles | More About Frances Robles | ) www.nytimes.com time to read: +1 min

A single New York City police detective accused of trying to close murder cases by concocting false witness testimony and coercing confessions has cost taxpayers $110 million in settlements to more than a dozen people whose convictions were overturned after some had spent decades in prison. People investigated by the former detective, Louis N. Scarcella, have already received a total of $73.1 million in settlements from New York City and another $36.9 million from the state, according to the city and state comptroller offices. The $110 million went to 14 different defendants, including a woman who died a few years after her release, a man who was just 14 when he was arrested on murder charges and a man whose settlement went to his mother because he died in prison at age 37. One man, let out of prison after 23 years, had a severe heart attack just two days later. But no other New York Police Department officer has ever come close to costing taxpayers as much, lawyers involved in the cases say.

Persons: Louis N, Scarcella Organizations: York City, New York Police Department Locations: New York City, Chicago, Philadelphia

☆ Napoleon’s hat sells for record $2.1 million
▼ + stars: | 2023-11-20 | by ( Lianne Kolirin | ) edition.cnn.com time to read: +2 min

CNN —One of Napoleon Bonaparte’s famous black hats sold for more than $2 million at an auction in France on Sunday. The €1.932 million ($2.1 million) sale set a record for Napoleon’s trademark two-cornered military dress hats. The hat was part of a collection belonging to French industrialist Jean Louis Noisiez that went on sale on Sunday. According to its online listing, the hat - which sold for more than double its original estimate - was made by a furrier at the emperor’s palace. In 2018, another version of the hat sold for more than $400,000 at an auction in Lyon, France.

Persons: Napoleon Bonaparte’s, Jean Louis Noisiez, Napoleon, Jean, Pierre Osenat, ”, Helena, Ridley, Joaquin Phoenix Organizations: CNN, Sunday, Reuters Locations: France, Fontainebleau, French, Elba, “, Lyon, British, Waterloo, St

PARIS (AP) — A faded and cracked felt hat worn by Napoléon Bonaparte fetched $1.6 million at an auction Sunday of the French emperor’s belongingsYes, $1.6 million. It was the centerpiece of Sunday's auction in Fontainebleau of memorabilia collected by a French industrialist who died last year. But the bidding quickly jumped higher and higher until Jean Pierre Osenat, president of the Osenat auction house, designated the winner. Political Cartoons View All 1256 ImagesWhile other officers customarily wore their hats with the wings facing front to back, Napoléon wore his with the ends pointing toward his shoulders. The entrepreneur spent more than a half-century assembling his collection of Napoleonic memorabilia, firearms, swords and coins before his death in 2022.

Persons: Napoléon Bonaparte, Napoléon, Europe —, Jean Pierre Osenat, ‘, ”, —, Pierre Baillon, Jean, Louis Noisiez Organizations: PARIS Locations: France, Europe, Fontainebleau, French, bataille

☆ How US banks can wiggle out of the $650 billion balance-sheet bomb hanging over them
▼ + stars: | 2023-11-11 | by ( Matthew Fox | ) www.businessinsider.com time to read: +6 min

US banks are sitting on an estimated $650 billion in unrealized losses on their bond holdings. Here's why banks have flexibility in making sure that their $650 billion balance sheet bomb is defused. The bond crash culminated in an estimated $650 billion in unrealized losses held by banks, according to Moody's. How banks can defuse their balance sheet bombDespite the massive unrealized losses, banks are looking at three scenarios that could help ensure losses aren't realized. First, banks could simply hold onto their low-yielding debt until it matures and not realize any losses at all.

Persons: —, aren't, Louis Navellier, Geetu Sharma, Sharma, Banks Organizations: Service, Fed, Silicon Valley Bank, First Republic Bank, Signature Bank, Consumers, of America, Treasury, Federal Reserve, Banks, P Bank, P Regional Bank ETF

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