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☆ BofA says chip stocks won't peak until mid-2026, and that these 3 sub-industries will thrive until then
▼ + stars: | 2024-06-03 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

That's as the chip industry often undergoes 10 quarters of upside after experiencing a downcycle, a pattern that has just begun. However, chip stocks (SOX) change direction 6-9 months ahead of cycle inflection, so semis could potentially peak sometime around 2H25, or another year+ from now," Bank of America said. Bank of America sees major upside potential for both, holding a $1,500 and $1,680 price objective on each. "Industrial/auto chip stocks are less crowded and offer diversification away from AI, with easier compares going into CY25E," the bank said. AdvertisementBank of America holds a price objective of $890 and $650.

Persons: —, That's, upcycle Organizations: of America, Nvidia, Broadcom, NXP Semiconductors, KLA Corporation, Service, Bank of America Locations: petering, 2H25, CY25E

☆ CNBC Daily Open: Wall Street hits record highs as rate cut bets rise on soft inflation data
▼ + stars: | 2024-05-16 | by ( Abid Ali | ) www.cnbc.com time to read: +2 min

A trader works during the closing bell at the New York Stock Exchange (NYSE) on March 17, 2020 at Wall Street in New York City. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Wall Street hits record highThe S&P 500 and the Nasdaq rose to record highs after inflation data came in lower than expected. The Dow Jones Industrial Average jumped 350 points as investors bet the Federal Reserve may cut rates in September. Inflation easesApril's consumer price index rose 0.3%, slightly less than expected, while on a 12-month basis, inflation increased 3.4% in line with economists' forecasts.

Persons: JPMorgan Chase Jamie Dimon, Dimon, Anton Peraire, James Peraire, Biden, Morgan Stanley Organizations: New York Stock Exchange, Wall, CNBC, Nasdaq, Dow Jones Industrial, Federal, Tech, Nvidia, Apple, Microsoft, JPMorgan, Sky News, U.S . Treasury Department, GameStop, AMC, Justice, MIT, U.S Locations: New York City, America, cryptocurrency, China

☆ CNBC Daily Open: Wall Street hits record, 'Thee rate cuts'
▼ + stars: | 2024-05-16 | by ( Abid Ali | ) www.cnbc.com time to read: +2 min

The Charging Bull is seen on an empty Wall Street on April 20, 2020 in New York City. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Wall Street hits record highThe S&P 500 and the Nasdaq rose to record highs after inflation data came in lower than expected. All three major indexes closed at record highs. Asia up, Japan's GDP shrinksAsia-Pacific markets rose on Thursday after Wall Street hit record highs.

Persons: Buffett, Chubb, Warren, Berkshire Hathaway, Seng, Biden, Morgan Stanley Organizations: CNBC, Nasdaq, Dow Jones Industrial, Federal, Tech, Nvidia, Apple, Microsoft, GameStop, AMC, Berkshire, Wall, Nikkei, U.S Locations: New York City, Zurich, Asia, Pacific, China

☆ Bitcoin is heading to its worst month since 2022 and could be in for more chop in May
▼ + stars: | 2024-04-30 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +4 min

Bitcoin's seven-month rally is on pause heading into May, now that two key catalysts investors had been closely watching this year – the bitcoin ETFs and the halving – are now behind them. The flagship cryptocurrency has fallen nearly 14% in April, according to Coin Metrics, and is on pace to post its first negative month in eight, and its worst month since November 2022, when FTX collapsed. However, it's proved to be a winning month in the previous halving years of 2012, 2016 and 2020. On Tuesday, Hong Kong bitcoin ETFs began trading. "Whether it's the next month or two months, you'll start to see more wealth management firms approve the ETF on their platforms.

Persons: FTX, It's, bitcoin, Antoni Trenchev, Trenchev, it's, Lyn Alden, Swan, Jerome Powell, there's, Alden, Devin Ryan, you'll Organizations: Metrics, Lyn, Lyn Alden Investment, Federal Reserve, JMP Securities Locations: bitcoin, U.S, Hong Kong, Australia, Japan, Singapore, South Korea

☆ Trump says without TikTok, 'Facebook and Zuckerschmuck will double their business'
▼ + stars: | 2024-03-08 | by ( Ana Altchek | ) www.businessinsider.com time to read: +5 min

Trump spoke out against a bipartisan bill that would ban TikTok. The former president said "Facebook and Zuckerschmuck will double their business" without the app. While in office, Trump pushed TikTok to find a US buyer or face a ban. "If you get rid of TikTok, Facebook and Zuckerschmuck will double their business," Trump posted on his social platform Truth Social. Trump funded his own social platform in the meantime after being barred from both of Meta's platforms along with Twitter.

Persons: Trump, Zuckerschmuck, TikTok, —, Donald Trump, Zuckerberg Trump, Zuckerberg, Z's, Biden, Musk, Elon Musk Organizations: Facebook, Service, White House, Air Force, Trump, Meta, Twitter, Republican, TikTok, SpaceX, Cambridge, Tesla Facebook Locations: TikTok, United States, Palm Beach , Florida

☆ Vaccines Didn’t Turn Back Mpox, Study Finds. People Did.
▼ + stars: | 2024-02-29 | by ( Apoorva Mandavilli | ) www.nytimes.com time to read: +2 min

Why It Matters: Vaccines often arrive too late to stamp out outbreaks. Public health messaging can “be really powerful to control epidemics, even as we’re waiting for things like vaccines to come,” he said. Some experts unrelated to the work were not convinced that behavioral change was largely responsible for stemming the outbreak. “Add in some vaccine-induced immunity in this group and a bit of behavior change, and it will be even more effective,” he said. “As we’ve seen with Covid, the behavioral change only lasts so long,” she said.

Persons: Miguel Paredes, Paredes, ”, Bill Hanage, Thomas Skinner, Virginia Pitzer, we’ve Organizations: Fred Hutchinson Cancer Center, Food and Drug Administration, Vaccines, Harvard, of Public Health, Disease Control, Yale School of Public Health Locations: Seattle, North America, Chan, resurging

☆ How an Indian startup hacked the world
▼ + stars: | 2023-11-16 | by ( ) www.reuters.com time to read: +41 min

The Indian company hacked on an industrial scale, stealing data from political leaders, international executives, prominent attorneys and more. Run by a pair of brothers, Rajat and Anuj Khare, the company began as a small Indian educational startup. The Indian company hacked on an industrial scale, stealing data from political leaders, international executives, sports figures and more. Back in 2012, Kristi Rogers was an executive at Aegis, a London-based security company. Canadian security company GardaWorld, which acquired Aegis in 2015, said it had no information on the incident.

Persons: Chuck Randall, Randall, “, ” Randall, ”, Randall’s inbox, Appin, Rajat, Anuj Khare, Rajat Khare’s, Clare Locke, Khare “, Khare, ” Clare Locke, Ted Kaczynski, Anuj, who’ve, SentinelOne, Tom Hegel, Appin “, Hegel, Mandiant, ” Hegel, Shane Huntley, ” Huntley, Google’s Huntley, ‘, Jochi Gómez, Gómez, Halevi, Tamir Mor, Russian oligarch Boris Berezovsky, Mohamed Azmin Ali, ” Mor, Berezovsky, Azmin, Mor, Roman Abramovich, Mark Hastings, Hastings, didn’t, Jim H, ” Jim H, Jim H’s, Kristi Rogers, Mike Rogers, he’s, Global’s, sully, Rogers, Damian Perl, – “, Steven Santarpia, ” Santarpia, Santarpia, Leonel Fernández, ” Fernández, Rajat Khare, “ Let’s, Ministry of Home Affairs didn’t, Peter Hargitay, Stevie, Billing, ” Stevie, ’, ” Peter Hargitay, Mookhey, Norman Shark, Jonathan Camp, Shark, Camp, Norman, Dominican Republic –, Dan Brady, Sandra Schweingruber, ” Schweingruber, Schweingruber, Brady, ” Gómez, –, ” –, Anna Carter, Mark Califano, ” Rajat Khare’s, India’s, Educomp, Karen Hunter, Hunter, Bryan, Rajat’s, Vijay Kumar, Deepak Kumar, Kumar, ACSG, Jay Solomon, Solomon, ” Rebsec’s, Vishavdeep Singh, Rebsec, CyberRoot, Sumit Gupta, Gupta, Raphael Satter, Zeba Siddiqui, Christopher Bing, Ryan McNeill, Corinne Perkins, John Emerson, Marla Dickerson Organizations: Reuters, Google, Harvard University, U.S, Symantec, Appin, Caribbean, El, Israeli Defense Forces, Commando, Quillon Law, U.S . House Intelligence, The Michigan Republican, U.S . Senate, Aegis, Global Security, Security, Rogers, Army Corps of Engineers, Rotary, Aegis ’, Global, ” Reuters, Britain’s, Appin Software Security, Ltd, Appin Security, –, Research, Analysis, Intelligence Bureau, Indian, India’s Ministry of Home Affairs, India’s Ministry of Defense, of Home Affairs, Central Bureau of Investigation, CBI, Federal Bureau of Investigation, Ministry of Home Affairs, Telenor, Broadcom, FBI, Dominican, Criminal Investigation Service, Appin Security Group, CERT, country’s, Bureau of Investigation, Educomp, State Bank of India, State Bank, The National Security Agency, NSA, U.S ., Swiss, Appin Technology, India’s Ministry, Corporate Affairs, Control Security Global, Technology, Kumar, Facebook, Meta, BellTroX, Services, Street, New, Rebsec, BellTroX’s, Hire Locations: Long, New Delhi, India, Yorker, Paris, Swiss, cybersecurity, Appin, Dominican, California, “, Dominican Republic, El Siglo, United States, Britain, Switzerland, New York, French, New Jersey, Israel, Russian, Malaysian, London, Rwandan, Virginia, Canadian, Chuck@shinnecock.org, Texas, Indian, India’s Punjab, Pakistan, Zurich, Australia, Norway, Oslo, Brady, Former, ”, U.S, Islip, Shinnecock, Washington, cyberespionage

☆ Robinhood No Longer Looks Like a Steal
▼ + stars: | 2023-11-08 | by ( Telis Demos | ) www.wsj.com time to read: 1 min

Robinhood gained millions of users during the GameStop craze. But many have left as interest rates have gone up. CEO Vlad Tenev is now focused on growing Robinhood into more than just a trading app. Photo Illustration: Adam FalkRobinhood Markets may be building the brokerage of the future—and maybe it always will be. One big factor: The revenue momentum from higher interest rates is petering out.

Persons: Robinhood, Vlad Tenev, Adam Falk Robinhood Organizations: GameStop

☆ Covid exits corporate earnings with a bump
▼ + stars: | 2023-10-12 | by ( ) www.reuters.com time to read: +2 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 11, 2023. Revenue at the pizza delivery company was down about 4% from the same period last year, as restaurants in the U.S. sold less. Walgreens, meanwhile, lost $180 million in the quarter, while citing significantly lower revenue from Covid tests and vaccines. Meanwhile, Delta delivered record revenue for the quarter, with 30% earnings growth year-on-year, and is quickly repaying debt it took on during the chaos of 2020. While there’s no room for complacency about future shocks, third-quarter earnings might provide a bookend to a strange, turbulent time.

Persons: Brendan McDermid, Delta, Robert Cyran, John Foley, Sharon Lam, Aditya Sriwatsav Organizations: New York Stock Exchange, REUTERS, Reuters, Walgreens Boots Alliance, Delta Air Lines, Revenue, Walgreens, Air, X, Ericsson, Qantas, Thomson Locations: New York City, U.S, Domino’s

Most of the people participating in the trend are in their 20s, citing various reasons for quitting ranging from low wages to burnout. LiangAccording to China’s LinkedIn equivalent Maimai, out of 1,554 employees across various sectors surveyed from January through October 2022, 28% resigned that year. A similar movement, dubbed the Great Resignation, had taken off in the United States, with almost 50 million people quitting their jobs in two years. Despite the proliferation of higher education degrees, China’s economy doesn’t currently require as many high-skilled workers and it takes time to transform the economic structure, she said. The resignation trend could affect fertility, but it’s not yet clear how, she said.

Persons: Hong Kong CNN —, Liang, “, ”, Nancy Qian, they’ve, Jade Gao, Qian, ” Qian, Yao Lu, Veyron Mai, ” Lu, Young Organizations: Hong Kong CNN, CNN, ” CNN, Northwestern University’s Kellogg School of Management, Getty, Ministry of Education, Columbia University, University Locations: China, Hong Kong, China’s Zhejiang, United States, West, Beijing, AFP, Yibin, Foshan, Taizhou

The figures suggest that China's latest steps to revive a crisis-hit property market, including lower mortgage rates and down payments, could unlock some pockets of housing demand in the most sought-after areas, but may struggle to halt the broader property market downturn. "These measures may generate a short-term rebound in property transactions, but are insufficient to stabilize the property market," Goldman Sachs analysts said in a note. But Yu Fei, a property sales agent at HomeLink, said the initial spike in interest he noticed in the first few days is already petering out. "Many homebuyers remain in a wait-and-see approach, some hoping for more radical policies to stimulate the property market," Yu said. Goldman analysts said if property sales kept sliding policymakers could release more liquidity into the market by cutting banks' reserve requirement ratios, lowering rates, easing home purchasing rules further.

Persons: Jason Lee, Goldman Sachs, Zhang Guoqiang, I'm, Zhang, Zhao Jie, Yu Fei, Yu, Goldman, Wan, Emelia Sithole Organizations: REUTERS, China Index, Haitong Securities, Longfor, HK, Thomson Locations: Beijing, China, BEIJING, HONG KONG, China's

☆ Instant View: China's Q2 GDP growth slows to 0.8% q/q, raises stimulus expectations
▼ + stars: | 2023-07-17 | by ( ) www.reuters.com time to read: +11 min

"Consumers are not spending, mainly driven by the bleak outlook for the property market. Disappointing retail numbers and property market sales show it doesn't seem that the boost from rate cuts is sufficient. ..the property market is beginning another slowdown - the government will have to come up with more stimulus for property." "Nonetheless, we think more stimulus is required to stabilise and restore confidence in the property market." ZHIWEI ZHANG, CHIEF ECONOMIST, PINPOINT ASSET MANAGEMENT, HONG KONG"Nominal GDP growth turns out to be lower than real GDP growth in Q2, the first time since comparable data are available in Q4 2016.

Persons: CHRISTOPHER WONG, LOUIS KUIJS, CAROL KONG, XING ZHAOPENG, KEN CHEUNG, ALVIN TAN, VISHNU VARATHAN, MARCO SUN, CHEN, TONY SYCAMORE, ZHIWEI ZHANG, JING LIU Organizations: Gross, National Bureau, Statistics, Shanghai, NBS, BANK OF, ANZ, MIZUHO BANK, OF, OF ASIA FX, RBC, MUFG BANK, IG, SYDNEY, Friday's, BANK OF SINGAPORE, HSBC, stoke, Authorities, Reuters, U.S, Thomson Locations: U.S, SINGAPORE, ASIA, HONG KONG, SYDNEY, CHINA, SHANGHAI, OF ASIA, China

☆ German exports rise unexpectedly in April on China reopening
▼ + stars: | 2023-06-05 | by ( ) www.reuters.com time to read: +2 min

BERLIN, June 5 (Reuters) - German exports rose unexpectedly in April, boosted by deliveries to China following its post-pandemic reopening, but analysts warned that the momentum could be short-lived. German exports increased by 1.2% on the previous month, the federal statistics office said. Exports to China were up 10.1%, while exports to the U.S. were up 4.7% and exports to the European Union rose 4.5%, the office said. The foreign trade balance showed a surplus of 18.4 billion euros ($19.68 billion) in April, up from 14.9 billion euros the previous month. "The temporary push in exports to China will fade with time," ING's global head of macro at ING Carsten Brzeski told Reuters.

Persons: Alexander Krueger, Hauck Aufhaeuser, Claus Vistesen, ING Carsten Brzeski, Holger Schmieding, Klaus Wohlrabe, Rachel More, Maria Martinez, Kirsti Knolle, Gareth Jones Organizations: Reuters, European Union, Macroeconomics, ING, Thomson Locations: BERLIN, China, Hauck Aufhaeuser Lampe, U.S, Ifo

☆ The S&P 500 broke out above a key level. Now what?
▼ + stars: | 2023-06-04 | by ( Krystal Hur | ) edition.cnn.com time to read: +5 min

CNN —The S&P 500 index on Friday closed at its highest level in almost a year. The S&P 500 ended last week up 1.8% at about 4,282, marking its best weekly gain since late March. Now that the index has managed to breach the top level of resistance, that raises the question: Does this rally have legs? An equal-weighted version of the S&P 500 is up only about 1.5% for the year. The good news is that the S&P 500 will likely return to trading within the 3,800 - 4,200 range, meaning any downside — at least in the short term — will likely be limited, according to Turnquist.

Persons: Joe Biden’s, —, José Torres, Adam Turnquist, “ There’s, ”, ” Bitcoin, Saqib Iqbal, ” Iqbal, bitcoin, Iqbal, Smucker Compan, Baker Hughes Organizations: CNN Business, Bell, CNN, Federal Reserve, Interactive, LPL, Treasury Department, Silicon Valley Bank, Signature Bank, Trading.biz

☆ New UBS investor pitch fits better than old one
▼ + stars: | 2023-04-25 | by ( Liam Proud | ) www.reuters.com time to read: +3 min

LONDON, April 25 (Reuters Breakingviews) - UBS’s (UBSG.S) old strategy under former CEO Ralph Hamers was safe but not particularly rewarding. True, the wealth business pulled in about $20 billion of new fee-paying assets in the first quarter. The revenue UBS generates in wealth management fell to 78 basis points of average fee-earning assets in the first quarter, from 82 basis points a year ago. The second Ermotti era, by contrast, at least offers the chance of some upside. UBS reckons it can eventually wring $8 billion of annual cost savings from the combination with Credit Suisse.

☆ Morning Bid: World markets leaving March like a lamb
▼ + stars: | 2023-03-30 | by ( ) www.reuters.com time to read: +4 min

A look at the day ahead in U.S. and global markets from Mike DolanIn like a lion, out like a lamb. Farmers' almanacs suggest a stormy and turbulent start to March means it's likely to end calm and serene - and so it appears with world financial markets this year. The evidence is sketchy so far and the impact on lending and credit generally will be examined forensically from here. That U-turn in thinking during the month saw wild swings in the bond and rates markets, where key volatility gauges (.MOVE) hit their highest since the 2008 crash. (.CESIUSD)Elsewhere, European markets continued to advance on Thursday, with banking stocks (.SX7P) up another 2% and credit default swaps on many banks lower too.

☆ Bitcoin falls after CFTC sues crypto exchange Binance for allegedly breaking trading rules
▼ + stars: | 2023-03-27 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

Cryptocurrencies dropped on Monday morning after the CFTC sued Binance, the biggest crypto exchange in the world, for allegedly violating trading rules. The price of bitcoin slid 2.5% to $27,142.29, according to Coin Metrics. In a court filing, the CFTC, or the Commodity Futures and Trading Commission, said Binance violated eight provisions of a commodities trading law "designed to prevent and detect money laundering and terrorism financing." It's the largest crypto exchange and any U.S. regulatory action against it will have huge implications for the industry," she said. "Many knew Binance had a bullseye on its back, but this is still unnerving some crypto traders," said Ed Moya, an analyst at Oanda.

☆ Bitcoin’s March rally may be petering out. Here's where investors see it going from here
▼ + stars: | 2023-03-25 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +4 min

Bitcoin held on to its new highs this week and saw the biggest exchange inflows of the year, but the rally could be dwindling, investors say. Bitcoin's exchange net inflows were the largest of the year and 8.2x larger than the prior week's, suggesting this month's rally was led by retail investors, Citi analyst Alkesh Shah, noted in a separate report Friday. This past month's banking crisis, however, brought a moment of awareness to bitcoin investors that has partly driven the recent rally. "While bitcoin's rally is somewhat extended, the now 40% bounce off the 200-day moving average highlights strength of trend," he said. What the charts say This week, bitcoin briefly dropped to the $26,000 level, almost returning to the key level of $25,200 chart analysts have been monitoring.

☆ The US started 2023 with a stunning surprise labor market boom, adding 517,000 jobs in January
▼ + stars: | 2023-02-03 | by ( Madison Hoff | ) www.businessinsider.com time to read: +3 min

The US added 517,000 jobs in January, starting the year with surprisingly strong job creation. January's job growth far surpasses the forecast of 185,000 jobs added. The US added 517,000 jobs in January, according to nonfarm payrolls data from the Bureau of Labor Statistics. Job growth in December was revised from 223,000 to 260,000. Fed Chair Jerome Powell pointed out how job growth has been at a press conference Wednesday after the Fed increased interest rates by 25 basis points.

☆ Wall St Week Ahead Recession fears pose challenge to energy shares after stellar year
▼ + stars: | 2023-01-28 | by ( Lewis Krauskopf | ) www.reuters.com time to read: +5 min

The S&P 500 energy sector (.SPNY) is up 4.2% year-to-date, slightly lagging the rise for the broader index (.SPX). Goldman Sachs, RBC Capital Markets and UBS Global Wealth Management are among the Wall Street firms recommending energy stocks. He said he is slightly overweight the energy sector, including shares of Chevron and Pioneer Natural Resources (PXD.N). But earnings are expected to decline 15% this year, the biggest drop among the 11 S&P 500 sectors. Energy companies executed $22 billion in share buybacks in the third quarter, just over 10% of all S&P 500 buybacks.

☆ Wall Street Week Ahead Recession fears pose challenge to energy shares after stellar year
▼ + stars: | 2023-01-27 | by ( Lewis Krauskopf | ) www.reuters.com time to read: +5 min

☆ A 'volatility event' will plunge the stock market to new lows in the next 6 months, Fairlead's Katie Stockton says
▼ + stars: | 2023-01-04 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

The stock market is poised to plunge to new lows in the first half of 2023, according to Fairlead Strategies' Katie Stockton. Stockton told CNBC on Tuesday that a "volatility event" could send the VIX soaring to 50. "But we do look for some kind of major low to be established on the back of a volatility event... maybe in the next four to six months." Of course, there is a chance hat instead of plunging to new lows the stock market simply chops sideways and consolidates. I think it's less likely though because I do think that the market needs that kind of capitulation that tends to be associated with bear market lows," Stockton said.

The U.S. House’s Jan. 6 committee has performed its task with a dignity that verges on parody. They are doing criminal referrals while Rome burns. I think the criminal referrals are completely appropriate and, if anything, fail to capture the true scope of his malfeasance. He said as much himself in response to the Jan. 6 committee referral. One of the strongest grounds for prosecuting Trump for Jan. 6 is that only accountability will prevent something like it from happening again.

☆ U.S.-Africa Leaders Summit kicks off under China's long shadow
▼ + stars: | 2022-12-13 | by ( Associated Press | ) www.nbcnews.com time to read: +7 min

Trade between Africa and China last year surged to $254 billion last year, up about 35% as Chinese exports increased on the continent. “We are not interested in the views of any other countries on China’s role in Africa,” Qin said at the Semafor forum. Asked whether Biden administration officials would directly approach U.S. concerns about Chinese involvement in Africa during this week’s meetings, officials bristled. Those include Africa, South America and the Middle East, where China is eyeing military and economic expansion. U.S. officials have also expressed concerns that China is looking to establish a military base on the western coast of Africa.

☆ Why China Isn’t Facing Another Tiananmen Moment
▼ + stars: | 2022-12-02 | by ( Andrew J. Nathan | ) www.wsj.com time to read: 1 min

In April 1989, a peaceful protest by several hundred university students in front of the Great Hall of the People in Beijing’s Tiananmen Square swelled over the course of four and a half weeks into massive demonstrations. Students, workers, and government and party officials took part, and similar protests broke out in over three hundred other cities across China. Last week’s anti-Covid protests, by contrast, are now petering out, after a few heady days of defiance. Despite the country’s deep-seated and widespread public outrage at three years of rigid Covid restrictions, Xi Jinping has China under much tighter control than his predecessors did three decades ago.

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