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YOU MIGHT SAY Jenelle Manzi leads a double life. Since she was 16 years old, she has been a corps de ballet member of the New York City Ballet. Her favorite step is the développé, a graceful upward unfolding of the leg, but right now a torn ankle tendon is limiting her ability to execute it. She’s careful about properly fueling her body for long practice days, but for years a number of food allergies made that tricky. Out of these challenges came the idea for her company Get Golden, launched in August 2020.
On the evening of Sunday, Dec. 18, Jews across the globe will mark Hanukkah by lighting candles. triumph of a ragtag group of Judean rebels known as the Maccabees over the Syrian-Greek army of Antiochus IV Epiphanes. To mark the restoration of their nation’s independence, the Maccabees rededicated the Temple in Jerusalem, using a small jug of sacred oil to light the seven-branched candelabrum known as the menorah. Miraculously, the oil kept burning for eight days. For American Jews, the holiday and the candle-lighting ritual also serve to illuminate their role in the nation’s history.
Bank of America strategists see risks of a Federal Reserve policy mistake in 2023 that could generate a "hard landing" for an economy trying to fight through elevated inflation. The bank's investing team has come up with 10 moves that investors can make to protect themselves against challenging conditions. Part of that trade is also to go long emerging market assets, which have been hurt by the stronger greenback. Specifically, the bank recommends emerging market distressed bonds, the Korean won currency, the reopening in China and the Mexican peso. Bank of America has a 4,000 price target on the S & P 500 for 2023, implying just a 2.7% gain from Thursday's close.
Michael Haneke’s Still-Shocking Early Films
  + stars: | 2022-12-15 | by ( David Mermelstein | ) www.wsj.com   time to read: 1 min
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Andrew D. Bernstein/NBAE/Getty Images Jordan poses for a Little League Baseball photo in the late 1970s. Ken Levine/Getty Images Jordan famously shrugs his shoulders after hitting another 3-pointer during the 1992 NBA Finals versus Portland. "There is a reason you call someone the Michael Jordan of ... neurosurgery, or the Michael Jordan of rabbis, or the Michael Jordan of outrigger canoeing. Chip Somodevilla/Getty Images Jordan continues to promote Nike's Jordan Brand across the world. Jordan Brand/Getty Images Jordan cries at the Kobe Bryant memorial in Los Angeles in February 2020.
A big rebound for the stock market could prove unwelcome news to many professional investors, according to Bank of America. "We say Jan/Feb 'pain trade' is up for bond yields & risk assets. ... [fund manager survey] investors say best performing asset in '23 to be government bonds & most overweight bonds vs stocks since Apr'09," the note said. While stocks are well off their lows of the year, investors appeared to turn bearish again in recent weeks. There were some signs in the survey that investors were starting to become less bearish, according to Bank of America.
A US recession is coming - here are 5 reasons why
  + stars: | 2022-12-12 | by ( Phil Rosen | ) www.businessinsider.com   time to read: +6 min
Bank of America's strategists said the US could fall into a recession over the next 10 to 12 weeks. Bank stocks have tumbled in recent days. Frankly, a broad recession won't be a surprise to anyone at this point (especially Opening Bell readers). In other news:Whether or not the US is in a recession is a politically charged debate. These nine funds offer strong positioning through a recession and into the next bull market, in Bank of America's view.
The US economy could enter a recession in 10-12 weeks, according to Bank of America. These are the five reasons why Bank of America believes a recession could hit by March 2023. This potential recession has been called the most telegraphed recession in history because everyone seems to be expecting a decline. Bank stocks are down 10% in just four days. Bank stocks are often described as a "canary in the coal mine", and feel the pain of a downturn earlier than stocks in other sectors.
The outlook for next year is a bit better for stocks, but the first half sounds like it could be downright ugly. The strategist expects lows to be retested due to what could be a significant decline in earnings as interest rates rise. Jeff Kleintop, Charles Schwab's chief global investment strategist, expects a shallow recession may already have begun. He predicts the first half will be worse for stocks than the back half of the year, with a choppiness similar to the past six months. Calvasina expects small caps to be an area of outperformance, and she still sees value in energy and financials.
Sell stock rallies ahead of the likely recession shock for Main Street consumer sentiment in 2023, Bank of America said Friday. Job losses next year will shock consumers, as inflation did in 2022, analysts predicted. For now, the labor market still looks strong, with the addition of 263,000 jobs in November. Strength in the labor market was on display Friday with the November nonfarm payrolls report. Bank of America said it already sees signs of the labor market softening, with "small business jobs hard to fill (correlates with Fed funds) & peak in Atlanta Fed wage tracker," it said.
What's going to happen in the stock market in 2023? That is playing against the "inflation data is improving" narrative that has been powering the stock market recently. Judging by some of the comments from strategists, 2023 sounds pretty gloomy. The S & P 500 is above its 200-day moving average for the first time since April. Seven of the 11 sectors of the S & P 500 are above their 200-day moving average.
Jon Wolfenbarger thinks stock-market investors are still too optimistic that a bear market bottom is coming sometime in the immediate-to-near future. When bear markets occur when valuations are relatively high, the bear markets tend to drag on longer. The median bear market length during periods of high valuation among those listed above is 17 months, Wolfenbarger said, compared to 13 months when valuations are attractive. Given that the current market sell-off began amid some of the highest valuations in history, Wolfenbarger said he expects the bear market to last 17 months or longer. Wolfenbarger's views in contextIn June, Societe Generale conducted a similar analysis to Wolfenbarger's and looked at bear markets over the last 150 years.
LONDON, Nov 18 (Reuters) - Inflows into global equity funds hit their highest level in 35 weeks in the week to Wednesday, according to a report from Bank of America (BofA), as investor optimism brightened. Investors poured a net $22.9 billion into equities, BofA said, citing EPFR data, and $4.2 billion into bonds. They pulled $3.7 billion from cash funds and $300 million from gold. U.S. equity funds saw inflows just shy of $24 billion in the week to Wednesday, BofA said. Money flowed into emerging market (EM) equities for the fourth week running, at $1.9 billion.
Signs are growing that an economic recession is imminent, according to Bank of America. BofA recommends investors focus on bond investing in the first half of 2023 and shift to stocks in the second half of next year. Instead, investors should focus on buying bonds between now and the first half of 2023, and shift to stocks in the second half of 2023, according to the note. "Rates shock so damaging to Wall Street asset values in 2022, but there's been no rates shock on Main Street," BofA's Michael Hartnett said. "There's your credible big bull trade; we say bonds first half of 2023, stocks second half of 2023," Hartnett said.
The consensus view on Wall Street is that stagflation will plague the stock market in 2023, according to Bank of America. A survey from the bank found that 92% of fund managers expect a period of high inflation and low economic growth next year. The bearish outlook comes as cash levels sit near record highs, signaling the lingering bearish sentiment. That dynamic sets contrarian investors up for a solid trade, as investor sentiment remains historically bearish. Other sentiment indicators are also showing overwhelmingly bearish sentiment among investors, like the weekly AAII Investor Sentiment survey.
Police in Idaho have arrested a woman in connection with the disappearance of 6-year-old Michael Vaughan, who has been missing for over a year, officials said. Michael Vaughan. Michael's house and the house Wondra was living in are about four minutes apart, according to KTVB. Police continued to search the backyard of Wondra's home on Tuesday, where crews intend to dig three or four feet deep, Huff told KTVB. We have not found anything yet, but we will continue to excavate in hopes of finding his remains,” Huff told KTVB at the scene on Saturday.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe're seeing the normalization of demand after two record years, says Winnebago CEOMichael Happe, the CEO of Winnebago, joins 'Power Lunch' to discuss consumer discretionary spending on RVs and motorhomes, the ability for product diversity to strengthen the stability of consumer demand and the company's new electric RV offering.
Family and friends of three college football players, gunned down at the University of Virginia, called their slayings "heartbreaking and tragic." This is my firstborn child,” he said, adding that his son who could “light up a room just with a smile” was focused on school, football and his family. Their family, from Charleston, South Carolina, was heading to the UVA campus Monday. “It is heartbreaking and tragic that Devin’s young life was cut short by violence," Wisconsin Athletic Director Chris McIntosh said in a statement. Chandler still had plenty of friends in Madison and Sunday's fatal shooting will be felt throughout the program, Wisconsin officials said.
Investors bought $2.6 billion of bonds in the week to Wednesday, BofA said, citing EPFR data. "Inflation shock" is over, but 'inflation stick' of briskly rising services and wage inflation is here to stay; inflation will come down but to remain above range past 20 years," BofA strategists, led by Michael Hartnett, said. Inflation shock, rates shock and recession shock defined the the 2022 bear narrative, Bofa said, adding that 2023 looks very different. "2023 bull narrative is 'peak CPI, peak Fed, peak yields, peak US dollar'; we say 'rent the pivot' as 'no recession, no rate cuts'," the bank's strategists said. BofA said U.S. 30-year Treasuries, small-cap industrials and resources, emerging market bonds, plus China/Japan and weak dollar plays were on its list.
LONDON, Nov 11 (Reuters) - Investors bought more bonds than at any time in the last four months in the week to Wednesday as signs emerged that inflation may have peaked, BofA Global Research said on Friday. Investors bought $2.6 billion of bonds in the week to Wednesday, BofA said, citing EPFR data. "Inflation shock" is over, but "inflation stick" of briskly rising services and wage inflation is here to stay; inflation will come down but to remain above range past 20 years," BofA strategists, led by Michael Hartnett, said. In the latest week, investors pulled $4.6 billion from equity funds and ploughed $2.4 billion into cash. Inflation shock, rates shock and recession shock defined the the 2022 bear narrative, Bofa said, adding that 2023 looks very different.
It's the bond market's time to shine
  + stars: | 2022-11-06 | by ( William Edwards | ) www.businessinsider.com   time to read: +6 min
Bond yields are at their highest levels in years. The result has been nothing but pain for stock and bond prices since the start of the year. Another reason is because in a recessionary environment, bond prices typically rise as investors pile into safe-haven assets like Treasurys. "Bond investors are facing a unique win-win scenario right now," Saperstein said in an October memo. He continued: "If inflation and rates continue to rise, bond prices will decline but unrealized price losses can be meaningfully offset by locked-in 4-6% income returns.
Equity funds posted $6.3 billion in inflows, with emerging markets funds recording their second straight weekly inflow, with $4.3 billion, and European equity funds posting their 38th weekly outflow, down $900 million, BofA added. Stocks got a boost last week from a belief among investors that the Federal Reserve could shift the pace of rate hikes down a gear, as the economy shows signs of slowing. Fed Chair Jerome Powell has since poured cold water over such speculation, given stubbornly high inflation and a resilient labour market. Much harder to pivot when inflation is 8% & unemployment is 3%," BofA investment strategist Michael Hartnett wrote. The S&P 500 (.SPX) gained almost 4% last week, buoyed by optimism over quarterly earnings and the prospect of slower rate hikes from the Fed.
Janet Yellen told CNN she doesn't think a recession will happen in the near-term. But the Fed is expected to hike interest rates again this week, which could trigger a downturn. Inflation continues to soar, and the Fed's solution is to hike interest rates, intended to tame price growth by slowing economic activity. But Treasury Secretary Janet Yellen told CNN on Friday that she doesn't "see signs of a recession in this economy at this point." "However, a family's 'pocketbook' needs have little to do with interest rates, and potential job losses brought about by monetary over-tightening will only worsen these matters for the working class."
SHANGHAI, Nov 1 (Reuters) - Several Shanghai residents received fresh stay-at-home orders and mandatory testing notices on Tuesday as authorities raced to trace contacts linked to a COVID-positive woman whose visit to the city's Disney Resort prompted its temporary lockdown. The Shanghai Disney Resort on Monday abruptly shut its gates, locking in all visitors at the time and only allowing them to leave, hours later, after they had tested negative for the virus. Marvis He was among Disney visitors caught up in the resort's lockdown, having flown in from Shenzhen in hopes of enjoying the park's Halloween themed fireworks. Foxconn has been one of the biggest corporate names affected by a quasi-lockdown of Zhengzhou, a major logistics hub in central China. In recent days, videos appearing to show departing Foxconn workers laden with luggage and walking along village roads towards their home towns have gone viral on Chinese social media.
For stroke survivors interviewed by NBC News, the test Fetterman faced was not just political, but deeply personal. Sheth differentiated between the intellectual and cognitive capacities of stroke survivors and their ability to process language and communicate. Some stroke survivors said that just as people with learning disabilities are given extra time on standardized tests, the debate rules should have allotted Fetterman longer periods to speak. Accordingly, some stroke survivors said that at the end of the hourlong debate, Fetterman seemed worn out. Others said they hoped that the attention focused on Fetterman’s recovery might inspire greater empathy and understanding of what stroke survivors go through.
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