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Read previewThe US economy is edging precariously close to a recession, and it's flashed a handful of warning signs in just the last week that suggest a downturn is on the horizon, according to Société Générale. New manufacturing orders contracted in May, and overall manufacturing activity contracted for the 18th time over the last 18 months, according to the Institute for Supply Management. Advertisement"Although many may dismiss the importance of the manufacturing sector for the overall economy, it is undeniable that overall GDP ebbs and flows closely with it. SocGen isn't alone in sounding the alarm, and other economists say that high interest rates are finally working their way through the economy and depressing growth. New York Fed economists see a 52% chance the economy could slip into recession within the next 12 months.
Persons: , it's, Société, Albert Edwards, " Edwards, Edwards, That's, SocGen isn't Organizations: Service, Business, Fed, Institute for Supply Management, New York Fed
Dollar ebbs as markets await key global inflation reports
  + stars: | 2024-05-28 | by ( ) www.cnbc.com   time to read: +3 min
In this photo illustration, a person is seen holding 100, 50, and 5 U.S. dollar bills in his hand. The dollar waned on Tuesday following a slight pick up in risk appetite, but it held tight ranges against its peers ahead of key inflation data from major economies this week that markets are looking to for guidance on the global interest rate outlook. The euro was a touch firmer at $1.0860 despite some dovish comments from European Central Bank policymakers on Monday and data showing German business morale stagnated in May. Down Under, the Aussie edged 0.03% higher to $0.6657, with the country's monthly consumer price index data also due on Wednesday. BOJ Governor Kazuo Ueda said on Monday the central bank will proceed cautiously with inflation-targeting frameworks, noting that some challenges are "uniquely difficult" for Japan after years of ultra-easy monetary policy.
Persons: Rodrigo Catril, Sterling, NAB's, Kazuo Ueda, bitcoin Organizations: U.S, European Central Bank, ECB, National Australia Bank, New Zealand, Down, Bank of Japan Locations: Asia, Britain, United States, U.S, Tokyo, Japan
A few weeks ago, as I watched the Golden State Warriors submit to a humiliating defeat by the Sacramento Kings, my main feeling was not frustration, anger or embarrassment. The Warriors’ three core players — Stephen Curry, Klay Thompson and Draymond Green — have been together since 2012. Curry blossomed into one of the greatest players of all time; Green, one of the best defenders; Thompson, one of the best shooters. Rooting for basketball players means constantly being aware that they are aging. And now that the oldest players are my age, it means constantly being aware that I am aging, too.
Persons: — Stephen Curry, Klay Thompson, Curry, Thompson, they’ve Organizations: Golden State Warriors, Sacramento, Warriors, San Antonio Spurs Locations: Sacramento Kings
The lack of female leadership in the financial industry is nothing new, but many companies have been making strides. But as I watch senior women continue their exodus from Goldman, I'm not sure the company actually wants to change. While many companies have modernized to embrace hybrid and remote work, Goldman has not. Rather than changing its "be in the office every day and grind it out" culture to better suit women, Goldman puts the onus on us to change ourselves to fit the model. But Goldman leadership seems to want the benefits of gender diversity without the hard work of supporting diverse leadership styles.
Persons: Goldman Sachs, , Dina Powell McCormick, Beth Hammack, Stephanie Cohen, Goldman, I'd, It's, it's, Morgan Stanley, Jamie Dimon, David Solomon, I'm, hadn't, Julia Boorstin, — Goldman, I've, she's, Asahi Pompey, Yassaman Salas, Rebecca Anderton, Davies, Lindsay MacMillan Organizations: Street Journal, Goldman, Citi, JPMorgan, International Workplace, McKinsey, LinkedIn, CNBC, Deloitte, Asahi Locations: Canada, London, New York
Now, Whitehall Lane Winery has eight vineyards, including six in Napa Valley and two in Sonoma Valley. "The whole country is dotted with cows and sheep," Moulton said, referring to the 9.6 million cattle and 26 million sheep that live there. Whitehall Lane Winery. Whitehall Lane Winery. Whitehall Lane Winery.
Persons: Jason Moulton, Moulton, They'll Organizations: Service, Sonoma Valley ., American Sheep Industry, Lincoln University Viticulture Locations: Whitehall Lane, Oakville, United States, Napa Valley, Helena, Sonoma Valley, New Zealand, Lincoln, Auckland, Hawke's, It's, Whitehall Lane Winery, Whitehall, Nevada, Moulton
CNN —Weeks after being taken hostage by captors from the Islamic Movement of Uzbekistan, American climber Beth Rodden was back home – but plagued by nightmares of her ordeal. On their return to the US, Rodden was baffled to find that people within the climbing community were inclined to “celebrate” their ordeal. And obviously, this was a harrowing tale,” Rodden tells CNN Sport 24 years on from the incident. Rodden struggled with insomnia and nightmares, and although she went to a few therapy sessions she says she didn’t really open up. People that are postmenopausal that are older, younger – I feel like it’s just becoming a more inclusive, well-rounded community,” she added.
Persons: CNN — Weeks, Beth Rodden, Rodden, Tommy Caldwell, , Caldwell, Beth Radley, Jason Smith, John Dickey, , ” Rodden, Rich Pedroncelli, , , It’s, ‘ You’re, ’ Rodden, Ryan Moon, There’s, Smith Organizations: CNN, Islamic, of, CNN Sport, Locations: of Uzbekistan, American, Kyrgyzstan, Kyrgyz, Tajikistan, El Capitan, Davis , California, perfectionism, Yosemite, Oregon
Here are the responses from Jim Cramer and Director of Portfolio Analysis Jeff Marks. (Gary, Philadelphia) Jim Cramer: Go to Club holding Costco's website and buy gold. When we do see a lot of parabolic moves happening in the market that's usually a sign for us to start raising cash. (Sonny) Jim Cramer: Former President Donald Trump wants more defense. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
Persons: Jim Cramer, Jeff Marks, Wells, It's, They're, , Sonny, Donald Trump, Trump, Joe Biden, James, Johnson, That's, – Alibaba, Eaton, Michael, you've, Anthony, Dupont, Stanley Black, Decker, Eli Lilly –, that's, Nancy, Estee Lauder, they're, Gordon, Cash, Wynn, I'm, it's, Jim Cramer's, Jim Organizations: Investing Club, JPMorgan, Costco, Investing, Abbott Labs, Baidu, PDD Holdings, Bank of America, Nike, Trust, Jim Cramer's Charitable, CNBC Locations: North Carolina, Gary, Philadelphia, , Texas, Bob , Minnesota, Eaton
Fears Over Iran Buoy Netanyahu at Home. For Now.
  + stars: | 2024-04-20 | by ( Patrick Kingsley | ) www.nytimes.com   time to read: +1 min
But a confrontation between Israel and Iran this week — including on Friday when Israel retaliated against last weekend’s missile barrage by Iran — may have helped change the dynamic, at least for the time being. Now, Mr. Netanyahu is in his strongest domestic position since the October attack, even as his global standing ebbs amid anger at the conduct of Israel’s war in Gaza. “This was his best week since October,” said Mazal Mualem, a biographer of Mr. Netanyahu. And that’s the reason that, this week, we can see Bibi recovering,” Ms. Mualem said, calling Mr. Netanyahu by his nickname. Mr. Netanyahu’s far-right coalition is still trailing the main opposition bloc in the polls, and he would still likely lose an election if it was called tomorrow.
Persons: Benjamin Netanyahu’s, Israel, Iran —, Netanyahu, , Mazal Mualem, Mr, “ We’re, Bibi, ” Ms, Mualem, Netanyahu’s, Benny Gantz — Locations: Israel, Iran, Gaza
For young men in particular, it's an enticing, if a bit troubling, prospect. For some young men, a level of nihilism about the economy leads to an impetus to take some risks. Along with the rise of new customers, problem-gambling behavior is increasing, especially among young men. The New Jersey report identified a significant prevalence of high-risk stock trading among young men. According to the National Council on Problem Gambling, some 2.5 million Americans have a severe gambling problem, and another 5 million to 8 million have a problem it considers mild or moderate.
Persons: You've, Donald Trump's, Crypto, they're, they've, Timothy Fong, we've, Fong, it's, Kahlil Philander, haven't, Philander, Davids, Goliaths, Warren Buffett, Berkshire Hathaway, Emily Stewart Organizations: GameStop, AMC, NCAA, Pew Research, UCLA, Washington State University, National Council, sportsbooks, Business Locations: America, United States, Berkshire, New Jersey, Atlantic, Jersey, Plenty
It's what I refer to as my famous last words before I applied for a retail job at a clothing store after working in corporate for 25 years. Almost immediately, I launched my business, Boldly Speaking, leaning on my speaker skills and years of experience with ERGs. I ended up working at an Athleta store in NYC, and I'm glad I decided to join that team. What sticks with me most is the confidence and joy I've found during a time filled with so much doubt and uncertainty. I landed a seasonal brand associate role and felt like a kid in a candy store.
Persons: I've, they'll, It's Organizations: Service, Business, Inc Locations: NYC
A Slimmer Goldman Sachs Posts Hefty Jump in Profit
  + stars: | 2024-04-15 | by ( Rob Copeland | ) www.nytimes.com   time to read: +1 min
What a difference a year makes at Goldman Sachs. The venerated Wall Street investment bank, which a year ago was in the throes of struggle after attempting to build a Main Street franchise, on Monday showed off the benefits of sticking to what it knows best. It earned nearly $4 billion in the first quarter — around $1 billion more than analysts expected — after reaping big profits in its trading and corporate advisory franchises. Its investment banking fees exceeded $2 billion in the first quarter, nearly one-third higher than the same period a year earlier. If it returns, Goldman is among the big banks in line to benefit.
Persons: Goldman Sachs, Goldman, JPMorgan Chase Organizations: Wall, JPMorgan
In his newest role, Goggins is a lot more than "That Guy." It's the kind of role Goggins excels at playing: a complex character who makes the audience question if they can — or should — root for him. "I didn't pick this lane; I think this lane picked me," Goggins told Business Insider when asked if he seeks out morally ambiguous roles. On showing up to LA with only $300 and almost getting fired from 'The Shield'(L-R) Walton Goggins and Robert Duvall in "The Apostle." And I love to see other people's work; I'm not threatened by that at all.
Persons: Walton Goggins, Guy, Robert Duvall's, Goggins, Shane Vendrell, Danny McBride, Quentin Tarantino, Django, he's, who's, Danny McBride's, Steven Spielberg, Quentin Tarantino's, Robert Duvall, I've, Duvall, Shawn Ryan, Spielberg, Tarantino's, Billy Freeman, Ryan Green, Jody Hill, David Gordon Green, David, It's, Shane, Jason Sudeikis, Jason, I'm, Steven Spielberg's, Steven, Quentin Organizations: FX, Business, Walton, HBO, Weinstein Locations: Hollywood, Beverly Hills, LA, Beverly, Georgia, Los Angeles, HBO's
Darul Kisai, director of manufacturing and supply network operations, has dedicated 17 years to Procter & Gamble's Singapore plant. P&G benefits from the contributions of dedicated, top-tier talents like Kisai, who chose Singapore to pursue a meaningful career. Darul Kisai, manufacturing and supply network operations director, P&G, Singapore. "Singapore and P&G serve as magnets for top talent because they offer a platform where individuals can contribute significantly both professionally and personally." Here to stayFor those contemplating a move to Singapore, Kisai suggests conducting thorough research on potential employers and the country itself.
Persons: Kisai, Kris LeBoutillier, he's, I've, Darul Kisai, Organizations: Singapore, Procter, Gamble's, Massachusetts Institute of Technology, MIT, Procter & Gamble, Insider Studios, Singapore Economic Development Board Locations: Gamble's Singapore, Singapore, Asia, Malaysia, US, Darul Kisai, Darul, New York City, Pakistan
Ariana Grande's new album "Eternal Sunshine" ends with a personal ballad called "Ordinary Things." AdvertisementIf Ariana Grande's new album "Eternal Sunshine" has a moral, it won't be found on the club-ready lead single "Yes, and?" It's the most intimate moment on Grande's seventh album, "Eternal Sunshine," released Friday, and it all came together with the help of Nick Lee. Lee, who is credited as a coproducer on "Ordinary Things," made the song's original beat with his friend Luka Kloser. "Intro (End of the World)" and "Ordinary Things" frame the album as a sacred quest to find peace and romantic clarity.
Persons: Ariana Grande's, Nick Lee, Lee, , Grande, Marjorie Grande, nudging, he'd, Luka Kloser, Max Martin, it's, Kloser, Martin, Shintaro Yasuda, Aaron Paris, Nonna, Lee wasn't, that's Organizations: Grande, Service, Business, Spotify Locations: New York City, Los Angeles
For months, nearly all eyes have been fixated on the ebbs and flows of the British royal family, with King Charles III and Catherine, the Princess of Wales, in the spotlight because of health matters. But as of late, the extended absence of Catherine, also known as Kate, from the public eye has propelled a tidal wave of rumors over her whereabouts, ultimately leaving the public still searching for answers. Here is a quick timeline of key moments to help you catch up. Dec. 25, 2023Kate makes her last public appearance. Kate’s last official public appearance was on Christmas Day, when she attended a church service at St. Mary Magdalene Church in Sandringham, Norfolk, England.
Persons: King Charles III, Catherine, Princess, Kate, Kate’s, Mary Magdalene Church Locations: Wales, St, Sandringham , Norfolk, England
President Biden wants to increase the taxes on those buybacks. Corporations prefer stock buybacks Corporate America has wide latitude on what it does with the cash flow it generates. Excess cash will typically fall into three buckets: buybacks, dividends and capital expenditures. Capital expenditures $597 b. "However, if economic growth momentum instead continues to build, investors may begin to increasingly reward companies that are investing for growth," Goldman said.
Persons: Biden, Goldman Sachs Jeffrey Yale Rubin, Goldman Sachs, Goldman, Tesla, Meta, Biden's, Howard Silverblatt, Silverblatt Organizations: America, buybacks, Birinyi, P Global Locations: buybacks, America
Costco recently started selling silver coins for the first time, finance chief Richard Galanti told CNN. Costco is trying to replicate its recent success with gold bars. It began selling $2,000 gold bars online in September and sold more than $100 million worth of the bars last quarter. After all, not many people are actually stashing away gold bars in their homes. We constantly buy that stuff and intentionally run out of it from time to time.”Costco is also selling precious metals as they become more valuable.
Persons: Richard Galanti, King Charles III, , , Galanti Organizations: New, New York CNN, Costco, CNN, Federal Reserve, Treasury Locations: New York
Read previewMorgan Stanley's wealth business is the envy of Wall Street, with $5.1 trillion in assets. The wealth management division has buoyed Morgan Stanley's stock during the market slowdown, but its growth has slowed. Finn added that wealth management clients would soon have access to more customized and tax-efficient portfolios through Parametric, a direct indexing provider it acquired via Eaton Vance in 2021. AdvertisementThis is part of Finn's broader strategy to get customers across the bank to use as many Morgan Stanley products as possible. "The challenge with our model, historically, is we had a great wealth management firm if you wanted to work with a financial adviser," he said.
Persons: , Morgan, Jed Finn, Finn, Andy Saperstein, James Gorman, Ted Pick, Morgan Stanley's, Vince, Chad Turner, OpenAI, it's, It's, Eaton Vance, Morgan Stanley Organizations: Service, Bank of America, Business, McKinsey, AIMS
You can earn upward of $200,000 working from the comfort of your own home — no bachelor's degree required — if you're willing to crunch some numbers. Loan officers claimed the No. The pay is great: The average salary for loan officers is $192,339, per Indeed's research. At least 75% of the listings for loan officers on Indeed's database have remote or hybrid options. Loan officers assist people and businesses in the process of applying for loans, evaluating financial documents and helping borrowers complete their applications.
Persons: Scott Dobroski, Banks Locations: U.S
NEW YORK (AP) — A poetry collection, a coming-of-age novel and a history of deep sea exploration are unlikely to be found in the same section of your favorite bookstore. But they all have enough in common to be this year's winners of Science + Literature awards, $10,000 prizes administered by the National Book Foundation and the Alfred P. Sloan Foundation. While ““The Bathysphere Book” is the only winner you could officially classify as science, all three works draw upon science and the natural world. In “Digging Stars,” the protagonist is an astronomer from Zimbabwe who emulates her father's profession. Sze, a National Book Award winner for poetry in 2019, has written often about nature and the cosmos.
Persons: Alfred P, Arthur Sze's “, Rosa, Brad Fox’s, , , Sze, Brad Fox, Arthur Sze, Novuyo Rosa Tshuma, Ruth Dickey, Doron Weber, Kai Bird, Martin J, Sherwin's “ Oppenheimer, Margot Lee Shetterly's, Weber, Sloan, ” Weber, Shane Campbell, Staton, Brian Teare, Ricardo Nuila Organizations: National Book Foundation, Sloan Foundation, Book Foundation, Sloan, People’s, Medicine Locations: Zimbabwe, Manhattan, Japan
Oil prices dip on weak demand, strong dollar
  + stars: | 2024-01-24 | by ( ) www.cnbc.com   time to read: +3 min
File: A Repsol Oil Operations oil drilling rig pounds into the desert searching through thousands of feet for and oil reserve in El-Sharara, Libya. Oil prices edged lower on Wednesday, weighed down by concerns over tepid demand and a stronger dollar even though escalating geopolitical tensions limited the losses. Gasoline inventories, however, increased by 7.2 million barrels, stoking concerns over fuel demand in the world's top oil consumer. A stronger U.S. dollar also weighed on oil prices as demand from buyers in other currencies ebbs as they have to pay more for dollar-denominated oil. Elsewhere, U.S.'s third-largest oil-producing state of North Dakota brought some oil output back online after weather-related disruption, the state's pipeline authority said.
Persons: Vikas Dwivedi Organizations: Operations, Brent, . West Texas, American Petroleum Institute, The Energy Information Administration, U.S . Department of Energy, Federal Reserve, Macquarie, U.S, Houthi, Sharara, Jan Locations: El, Sharara, Libya, Russia, Ukraine, Yemen, Britain, U.S, Iran, Red, Iraq, Iraqi, North Dakota
Gold prices have never been this high
  + stars: | 2023-12-04 | by ( Anna Cooban | ) edition.cnn.com   time to read: +4 min
London CNN —Gold prices hit an all-time high Monday, buoyed by growing expectations of interest rate cuts among investors, a weaker dollar and geopolitical tensions. “This has created a more favorable environment for gold as a non-yielding asset.”John Reade, a market strategist at the World Gold Council, an association of gold producers, told CNN that, with investors predicting several rate cuts over the next year, gold prices could “quite possibly” shoot above Monday’s record high. Since gold is priced in US dollars, the fall in the greenback’s value has made it less expensive for investors outside the United States to buy the metal, which should have boosted demand and, in turn, lifted gold prices. Gold prices have risen 10% so far this year. According to the World Gold Council, central banks in emerging markets bought 473 metric tons (521 tons) of gold a year on average between 2010 and 2021.
Persons: ebbs, Daria Efanova, ” John Reade, Jamie Dimon, ” Reade, , Reade, Organizations: London CNN —, US Federal Reserve, Treasury, Sucden, World Gold Council, CNN, Interactive Investor Locations: United States, Russia, Ukraine, Israel, Gaza, China, South China, Taiwan, Russian
November's trading is in its last hours, with stocks—and a range of other asset classes—on pace for strong monthly gains. Stocks, international currencies, and bitcoin have all risen, with traders betting the Fed is done lifting interest rates as inflation ebbs. The Dow is on track for its highest close of 2023, while the Nasdaq Composite is on track for its best month since January. The yield on the 10-year U.S. Treasury note ticked up, rising to around 4.343%, after three days of declines. Overseas, the Stoxx Europe 600 finished its best month since January.
Persons: Dow, Tesla, Dow industrials Organizations: Treasury, Nasdaq, Dow, Benchmark U.S, Overseas
Stock Market News, Nov. 30, 2023: Dow Logs Highest Close of 2023
  + stars: | 2023-11-30 | by ( ) www.wsj.com   time to read: +1 min
The 10-year U.S. Treasury note had its best month since 2019, as a sharp unwinding of rate-hike expectations sent investors on a bond-buying spree. The Dow ended the day with its highest close since January 2022, while the Nasdaq Composite managed its best month since July 2022. Salesforce's stock rose, lifting the Dow, after the business-software company reported results last night. The yield on the 10-year U.S. Treasury note ticked up to settle at 4.349%, after three days of declines. Overseas, the Stoxx Europe 600 finished its best month since January.
Persons: Dow, Tesla, Dow industrials Organizations: Treasury, Nasdaq, Dow, Benchmark U.S, Overseas
But at its core, “Pedro Páramo” is a tale of two journeys, or perhaps one journey that unfolds into two. The narrator, Juan Preciado, goes to his parents’ hometown after his mother dies, seeking his long-estranged father, Pedro Páramo. If where and when we are in “Pedro Páramo” is constantly shifting, then sound is the swift and sinuous vehicle that carries us through it. (It was a fun experiment, and we shared the results with the sound designers of a forthcoming “Pedro Páramo” film. They wrote back to say they were inspired by our sound lists and wanted to credit the students.)
Persons: Pedro Páramo ”, Juan Preciado, , Pedro Páramo, Margaret Sayers Peden, , Douglas J, Locations: Weatherford,
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