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☆ Major central banks set to signal interest rate glide path in crucial week for monetary policy
▼ + stars: | 2023-02-01 | by ( Elliot Smith | ) www.cnbc.com time to read: +7 min

A screen displays the Fed rate announcement as a trader works on the floor of the New York Stock Exchange (NYSE), November 2, 2022. Brendan McDermid | ReutersThe U.S. Federal Reserve, European Central Bank and Bank of England are all expected to hike interest rates once again this week, as they make their first policy announcements of 2023. Economists will be watching policymakers' rhetoric closely for clues on the path of future rate hikes this year, as the three major central banks try to engineer a soft landing for their respective economies without allowing inflation to regain momentum. The market is now pricing in this eventuality, but the key question is what the FOMC will indicate about further rate hikes in 2023. "Fewer hikes might be needed if the recent weakening in business confidence captured by the survey data depresses hiring and investment more than we think, substituting for additional rate hikes," Mericle said.

☆ It's been a very bad month for Indian billionaires — four of the richest Indians have collectively lost about $45 billion in 2023
▼ + stars: | 2023-01-31 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Indian billionaires are leading losses on the Bloomberg Billionaires Index so far this year. That's on the back of a massive selloff in Adani Group's listed businesses and the broader Indian market. Adani's listed companies have come under significant pressure following a short-seller attack. The Adani Group has been defending itself vigorously, but Hindenburg's also doubling down on it's initial report. Trailing Adani on the Bloomberg Billionaires Index are fellow Indian billionaires Mukesh Ambani, Radhakishan Damani, and Savitri Jindal, who have lost about $5 billion, $2 billion, and $1 billion so far this year.

☆ Virtus' Terranova dumps these two tech stocks, says he doesn't trust the recent high-beta rally
▼ + stars: | 2023-01-31 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

Joe Terranova doesn't trust the recent rally in a slew of high-beta stocks. TSLA YTD mountain Tesla shares surged nearly 41% in January Stocks have just wrapped a blowout month after the worst year for stocks since 2008 . The S & P 500 surged 6.2% to notch its best January since 2019 due in part to a rally in high-beta names, like 2022's battered tech darlings. Tesla shares, for example surged nearly 41% this month. But Terranova doesn't expect this momentum to last, nor does he anticipate continued outperformance from the Nasdaq Composite after its 10.7% surge in January.

☆ Three new stocks gain entry to the Dividend Aristocrat elite, which outperformed in 2022
▼ + stars: | 2023-01-25 | by ( Jesse Pound | ) www.cnbc.com time to read: +2 min

Smucker have made the cut for the S & P 500 Dividend Aristocrats and will be added to index as of Feb. 1, S & P Dow Jones Indices announced Tuesday. Nordson, which joined the S & P 500 last year, has actually had 42 straight years of dividend raises, according to S & P Dow Jones Indices data. NOBL 5Y mountain The NOBL fund has a solid long-term track record and outperformed during 2022's bear market. All three have outperformed the S & P 500 over the past 12 months. ProShares also offers an S & P Technology Dividend Aristocrats ETF (TDV) , which lowers the bar to seven straight years of dividend hikes.

☆ I coach workers at Amazon and Google through layoffs. Here's what I tell those who've been let go and those left behind.
▼ + stars: | 2023-01-23 | by ( Robin Madell | ) www.businessinsider.com time to read: +7 min

Alisa Cohen has coached tech workers at companies like Google and Amazon. More than 50% of my career-coaching clients work in Big Tech, and another 30% are in B2B SaaS or e-commerce. I'm seeing some large tech companies like Google and Meta offering 10 to 16 weeks of base salary plus one to two weeks for each additional year worked. I coach job seekers to consider if the work environment, leadership, and culture are aligned with their values. I coach clients to connect their actions to their results — and importantly, to communicate the value they've added and impact they've made.

HONG KONG, Jan 19 (Reuters Breakingviews) - Macau is bounding into the Year of the Rabbit. Meanwhile arrivals from China and Hong Kong reached roughly 40% of 2019 traffic as of Jan. 13, per Morgan Stanley. That is remarkable given the mainland and Macau only relaxed restrictions less than two weeks ago. Melco Resorts & Entertainment , MGM China (2282.HK), Sands China (1928.HK) and Wynn Macau (1128.HK) have seen their leverage ratios swell. Ultimately to rebalance borrowings, Macau needs returning visitors to spend as much – or more – as they did in the past.

☆ South Africa energy blackouts: Ramaphosa skips Davos to tackle crisis
▼ + stars: | 2023-01-18 | by ( Hanna Ziady | ) edition.cnn.com time to read: +9 min

London CNN —South Africa’s President Cyril Ramaphosa was forced this week to cancel a trip to Davos by an escalating energy crisis that is inflicting rolling blackouts on the continent’s most developed economy. At peak times, demand in South Africa averages between 28,000 MW and 34,000 MW. Electricity theft, including by impoverished townships in South Africa, and non-payment by municipal customers have made matters worse. Despite an abundance of sunshine and wind, South Africa still derives about 80% of its electricity from coal. South Africa’s National Energy Crisis Committee, a body run out of Ramaphosa’s office, has proposed several measures to ease the crisis in the short term, including importing energy from neighboring countries and buying excess energy from private producers.

☆ This Goldman portfolio of stocks with strong profitability beat the market last year. Here's what's in it
▼ + stars: | 2023-01-17 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Few stocks — or industries — outperformed the market against 2022's tough macroeconomic backdrop, but one portfolio from Goldman Sachs crushed it and may have further room to shine in 2023. The basket includes 50 stocks with the highest consensus-expected ROE growth over the next 12 months. After a rebalance, here are some of the stocks included: Microsoft takeover target Activision Blizzard was among the newest additions to Goldman Sachs' basket. Shares gained more than 15% in 2022 even as technology stocks took a hit, with ROE is expected to grow by 11%. San Francisco-based Wells Fargo and consumer discretionary stocks Target and Chipotle Mexican Grill were also included in the Goldman basket.

☆ Economists say there is a 61% likelihood for a recession in 2023, and businesses are preparing
▼ + stars: | 2023-01-16 | by ( Alexandra York | ) www.businessinsider.com time to read: +4 min

Economists say there is a 61% likelihood for a recession in 2023, according to the Wall Street Journal survey. Some say high interest rates will push the US economy into the recession. For instance, some say higher interest rates will push the U.S. economy into a recession this year. Regardless, businesses and workers alike are preparingSince the middle of 2022, businesses and workers have continued preparing for the economic downturn to come. Despite today's economic fears, now is actually a beneficial time to start these small businesses, financial experts told Insider.

☆ Exclusive: Exxon prepares to start up $1.2 bln Texas oil refinery expansion - sources
▼ + stars: | 2023-01-13 | by ( Erwin Seba | ) www.reuters.com time to read: +4 min

Initial startup of a 250,000 barrels per day (bpd) crude distillation unit (CDU) at the 369,000 bpd refinery is expected by Jan. 31, the sources said, making the Beaumont refinery the second largest in the United States. SHALE OIL TO DIESELExxon had no immediate comment on the start up of the new processing unit, called the Beaumont Light Atmospheric Distillation Expansion (BLADE) project. BLADE, considered as early as 2014 and formally approved in 2019, was planned to process Exxon's crude oil pumped from the Permian shale field in West Texas and New Mexico. Operators at the Beaumont refinery this week were purging the new CDU of air in preparation to introduce its first crude, the people familiar with the matter said. POST-PANDEMIC MILESTONEExxon's Beaumont expansion marks a return to an era of steady refining capacity gains through processing tweaks and adding new equipment to existing plants.

Moderating inflation and a strong labor market may mean that no recession will come in 2023. At the same time, the US labor market has looked at the possibility of a recession and essentially shrugged. Although the US saw higher gains in the first few months of 2022, the job growth in December still shows the labor market is hot. "Today's inflation numbers are good news, good news about our economy," President Joe Biden said during Thursday remarks. Regardless, the labor market will continue to cool, and the unemployment rate will still rise — which will be uncomfortable, Zandi said, but not a recession.

Although commanding a weighting of just 0.936%, lower than any other industrial metal, lead is included in the Bloomberg Commodity Index (BCOM) for the first time this year. LME lead three-month price, stocks and spreadsSTOCKED OUTLME lead stocks fell by 54% to 25,150 tonnes over the course of last year. The distribution of LME warehouse stocks says a lot about the underlying stresses in the physical supply chain. China has emerged as a supplier of last resort to a stretched Western market. REBALANCINGThe lead market that has been trying to rebalance for two years and the return of Nyrstar's Port Pirie smelter in Australia after three months of maintenance should help.

☆ Burton Malkiel on why his classic investment book, 'A Random Walk Down Wall Street,' is relevant 50 years later
▼ + stars: | 2023-01-06 | by ( Bob Pisani | ) www.cnbc.com time to read: +8 min

You recommended index funds 50 years ago even before index funds existed. Standard & Poor's publishes annual reports showing how actively managed funds compare with index funds. Random Walk means that the history of past stock market prices cannot be used to predict the future. Exchange Traded Funds (ETFs), most of which are tied to index funds, are continuing to rake in money. This suggests that returns over the next decade are likely to be below the 9%-10% long-run historical stock market returns.

☆ Natural gas prices haven’t been this low since Russia went to war
▼ + stars: | 2023-01-06 | by ( Anna Cooban | ) edition.cnn.com time to read: +7 min

London CNN —Natural gas prices in Europe and the United States have tumbled to levels last seen before Russia sparked a global energy crisis by invading Ukraine. Even so, European gas prices are still historically high, and could rise again this year if demand from China picks up or supplies are disrupted. Wholesale prices were already shooting up in the months before the war as economies reopened from pandemic lockdowns. “It will take a bit [of time] for the fall in the wholesale prices of natural gas to [feed into] into the retail prices,” he said. That will keep Europe at a competitive disadvantage to the United States, where gas prices are about five times lower.

☆ How to be a better investor in 2023
▼ + stars: | 2023-01-05 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +5 min

New York CNN —If you’re planning to invest your hard-earned money in stocks, bonds and other assets this year, let humility be your guide. In response, stocks and bonds, which typically don’t move in the same direction, moved down in tandem in 2022, with both ending the year deep in the red. Ignore the noiseWhether 2023 is great or awful for stocks — or, more likely, both at different times — that shouldn’t sway your investing decisions. Given recession concerns, Wilson noted that value stocks, which represent companies with strong fundamentals but are considered underpriced, tend to perform better during economic downturns. For those with a long time horizon and a high tolerance for risk, Wilson suggests looking for buying opportunities among stocks that have been hammered.

LONDON, Jan 4 (Reuters) - U.S. funds giant BlackRock (BLK.N) will defer third-quarter redemptions from its 3.5 billion pounds ($4.2 billion) BlackRock UK Property Fund, a source told Reuters, in the latest sign of strain in Britain's real estate market. BlackRock's UK property fund will defer withdrawals that were originally due to be paid at the end of December, a person familiar with the situation said, asking not to be named. As of November, funds overseeing around 17 billion pounds in UK real estate assets were restricting redemptions to prevent firesales. A spokesperson for Legal & General Investment Management said on Wednesday that its Managed Property Fund was no longer deferring redemptions. M&G, Columbia Threadneedle, Schroders and CBRE did not immediately confirm to Reuters whether redemption deferrals were still in place for their UK property funds.

Speaking ahead of his flight, Marcos said he looked forward to meeting President Xi Jinping and that "the issues between our two countries are problems that do not belong between two friends such as the Philippines and China". Last week, a Philippine foreign ministry official said talks with Xi would include China's actions in the South China Sea. While the Philippines is a defence ally of the United States, under Duterte it set aside a territorial spat over the South China Sea in exchange for Chinese investment. Beijing claims much of the South China Sea, where about $3 trillion in ship-borne trade passes annually, with the area becoming a flashpoint for Chinese and U.S. tensions around naval operations. But while De Castro expects the South China Sea issue to be brought up, he does not expect Beijing to alter its position.

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☆ Investing Club Mailbag: Why trimming winners is key to keeping your portfolio diversified
▼ + stars: | 2022-12-28 | by ( Zev Fima | ) www.cnbc.com time to read: +10 min

Instead, at the CNBC Investing Club with Jim Cramer, our team attempts to do so based on position size. Avoiding putting all your eggs in one basket is the reason we strive to construct a diversified portfolio in the first place. At the time of our Apple trim, no other position was appreciably above 5%. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

☆ Stay Flexible, Bosses Are Told, Even as ‘Great Resignation’ Wanes
▼ + stars: | 2022-12-27 | by ( Richard Vanderford | ) www.wsj.com time to read: +5 min

Newsletter Sign-up WSJ | Risk and Compliance Journal Our Morning Risk Report features insights and news on governance, risk and compliance. Dr. Klotz: Companies invest in employees, and employees tend to match that investment. When employees feel that companies are underinvesting in them, they start disengaging from work or they engage in deviant behavior. If it feels like you can’t trust workers, then you micromanage them. But most companies can withstand that, and the benefits of building trust with their workers outweigh the occasional bad apple.

☆ The Nasdaq had its worst year since 2008. These are the best and worst performers and what to expect in 2023
▼ + stars: | 2022-12-27 | by ( Samantha Subin | ) www.cnbc.com time to read: +9 min

2022 brought an end to an impressive bull run for technology — and the worst year for the Nasdaq Composite since 2008. Energy stocks, meanwhile, found favor in investors' portfolios, as did healthcare and financials. Given this outlook, CNBC examined some of the worst and best-performing stocks in the Nasdaq 100 this year. Energy stocks Energy won 2022, benefitting from volatile oil prices triggered by the war in Ukraine. Meta Platforms was the worst-performing FAANG name, and one of the poorest-performing Nasdaq stocks.

☆ Inside the lives of some of the most powerful people on Wall Street
▼ + stars: | 2022-12-27 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

We're highlighting profiles we've done of some of the most powerful people on Wall Street. They are, as you will see, largely white males — a telling reminder of who still wields the power throughout most of Wall Street. Gregg Lemkau was considered a future CEO candidate at Goldman Sachs before he shocked Wall Street by leaving for Michael Dell's investment firm in 2020. Soft-spoken types can sometimes get bulldozed on Wall Street, where so-called alphas often reign supreme. Inside his strategy for turning Goldman into the Amazon of Wall Street.

☆ Rouble edges higher after biggest weekly slump since July
▼ + stars: | 2022-12-26 | by ( ) www.reuters.com time to read: +2 min

The rouble lost about 8% last week and is down 12.5% this month after an oil embargo and price cap came into force. At 0711 GMT the rouble was 0.8% stronger against the dollar at 69.67 . Brent crude oil , a global benchmark for Russia's main export, was up 3.7% at $84.0 a barrel, giving Russian equities some support. The dollar-denominated RTS index (.IRTS) was up 0.1% at 964.1 points while the rouble-based MOEX Russian index (.IMOEX) gained 0.4% to 2,132.1 points. For Russian equities guide seeFor Russian treasury bonds seeReporting by Alexander Marrow Editing by David GoodmanOur Standards: The Thomson Reuters Trust Principles.

☆ Volatile rouble recovers ground after biggest weekly slump since July
▼ + stars: | 2022-12-26 | by ( Alexander Marrow | ) www.reuters.com time to read: +2 min

The rouble lost about 8% last week and is down over 10% this month after an oil embargo and price cap came into force. By 0748 GMT the rouble was 2.8% stronger against the dollar at 68.31 . Brent crude oil , a global benchmark for Russia's main export, climbed to a near three-week high in its final trading session before the Christmas break, last up 3.7% at $84.0 a barrel. The dollar-denominated RTS index (.IRTS) was up 2.1% at 983.4 points while the rouble-based MOEX Russian index (.IMOEX) gained 0.3% to 2,130.6 points. For Russian equities guide seeFor Russian treasury bonds seeReporting by Alexander Marrow Editing by David Goodman, Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

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