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☆ Pope Francis says he wants to go to Mongolia in September
▼ + stars: | 2023-02-05 | by ( Philip Pullella | ) www.reuters.com time to read: +2 min

ABOARD THE PAPAL PLANE, Feb 5 (Reuters) - Pope Francis said on Sunday that he expected to continue travelling despite his knee ailment, joking that "weeds never die" and adding that he hoped to go to Mongolia in September. The trip would be the first ever by a pope to the Asian country. Speaking of his health, Francis, who became pope nearly 10 years ago, said "You know that weeds never die. Last August Francis named Archbishop Giorgio Marengo, an Italian, the first cardinal to be based in Mongolia, where he is the Catholic Church's administrator. Francis, who was on his way home from his 40th foreign trip as pope, also said he would probably go to India next year.

☆ Morgan Stanley's Mike Wilson warns there's a group of stocks that are riskier than growth shares
▼ + stars: | 2023-02-04 | by ( Sean Conlon | ) www.cnbc.com time to read: +2 min

Morgan Stanley's Mike Wilson is telling investors to avoid a popular trade tied to the economy. "Cyclicals probably are more risky now than the growth stocks," the firm's chief U.S. equity strategist and CIO recently told CNBC's " Fast Money ." "The growth stocks — a lot of them had their comeuppance last year with the financial conditions tightening." Cyclical stocks include shares that benefit when the economy is strengthening like retail. "There's this sort of narrative that China is reopening, inflation has peaked, [and] we can look through the valley here and start buying early cyclical stocks," he said.

☆ Australian Cardinal Pell's funeral marked by arrival of protesters, mourners
▼ + stars: | 2023-02-02 | by ( ) www.reuters.com time to read: +2 min

[1/2] People queue to enter the pontifical requiem Mass for Cardinal George Pell at St. Mary's Cathedral in Sydney, Australia, February 2, 2023. AAP Image/Dan Himbrechts via REUTERSSYDNEY, Feb 2 (Reuters) - Protesters gathered and mourners began to arrive in Sydney on Thursday ahead of the funeral service of Australian Cardinal George Pell, a former top Vatican official who was acquitted in 2020 of sexual abuse accusations. Australian police said it had dropped a court bid to block the gathering after protesters agreed to change their initial protest route and gather in a road adjacent to St Mary's Cathedral, the venue of the funeral service. On Thursday morning, protesters gathered in a park opposite the cathedral, some holding signs reading "Pell Burn In Hell". The ribbons symbolised the pain inflicted on child sexual abuse victims, the protesters said.

☆ Premarket stocks: Will the Fed end the 2023 market rally?
▼ + stars: | 2023-02-01 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

So will Fed Chair Jerome Powell dampen expectations and reiterate that the fight against inflation still has a way to go, or will the Fed show signs that they’re ready to ease up on rate hikes? Wall Street analysts also expect the Fed will stop hiking altogether by the spring. This will leave the market hanging on the future of how many rate hikes we will see.”He’s preparing for a volatile market reaction. But now, investors may be a bit too eager to end treatment, even as Fed officials warn that doing so would be premature. Stocks close out a jubilant JanuaryThe greatest comebacks of all time: Rocky Balboa, JNCO jeans, Apple and now… the US stock market.

☆ Here's what the stock market is facing down this week, from Fed moves to earnings that will set the tone for the rest of 2023
▼ + stars: | 2023-01-31 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

This is a make-or-break week for the stock market. Not only that, but a slate of mega-cap earnings from Apple, Amazon, and Alphabet are also due later this week. Any negative surprises could derail the January rally, Stockton said, and negate much of the recent recovery from 2022's vicious bear market. "We believe the rally rests on the shoulders of heavyweights Apple, Amazon, and Alphabet, which are showing softness today as the market anticipates their earnings," Stockton wrote. Better-than-expected earnings and the potential for a Fed pivot have fueled a sharp rebound in the stock.

☆ The stock-market rally that's jumpstarted 2023 is about to fade as the Fed reasserts its resolve in fighting inflation, Morgan Stanley's top stock strategist says
▼ + stars: | 2023-01-30 | by ( Carla Mozée | ) www.businessinsider.com time to read: +3 min

Stocks are off to a "surprisingly good start" in 2023, but the upside momentum looks set to fizzle, Morgan Stanley said Monday. This week's FOMC meeting may remind investors of the cardinal rule: "Don't Fight the Fed," said strategist Mike Wilson. The investment bank is now leaning more toward its bear case of per-share earnings of $180 for the S&P 500. He said recent price action in stocks has prompted investors to participate more actively as they fear missing out. "We think it's important to note that typically when forward earnings growth goes negative, the Fed is actually cutting rates.

☆ Jobs report to give clues about where economy is headed
▼ + stars: | 2023-01-29 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +8 min

Investors will get another clue when the January jobs report is released on Friday. Economists predict that 185,000 jobs were added last month, a slowdown from the gain of 223,000 jobs in December and 263,000 in November. A further deceleration in the labor market would likely please the Fed, as it would show that last year’s rate hikes are successfully taking some air out of the economy. Along those lines, average hourly earnings, a measure of wages that is also part of the monthly jobs report, are expected to increase 4.3% year-over year. So far, tech earnings season is not off to an inspiring start, with Microsoft (MSFT), Intel (INTC) and IBM (IBM) all reporting weak results.

☆ Here comes the biggest week of earnings. Plus an AI ode to the Dow
▼ + stars: | 2023-01-28 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

While only six companies in the Dow Jones Industrial Average are reporting next week, about 20% of the S & P 500 reports, making it the biggest week of earnings this season. The Dow and the S & P 500 gained 2.2% and 2.9% this week, respectively, while the Nasdaq Composite rose 4.7%. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

☆ Stocks may face an inflection point in the week ahead as the Fed meets and Apple posts earnings
▼ + stars: | 2023-01-27 | by ( Patti Domm | In | ) www.cnbc.com time to read: +9 min

The Fed's meeting Tuesday and Wednesday comes amid a flood of corporate earnings reports, with about 20% of the S & P 500 reporting that week. The most important day for earnings is Thursday, when Apple , Alphabet and Amazon report after the bell. The Nasdaq Composite was up 11% for the month as of Friday afternoon, well ahead of the 6.2% gain in the S & P 500. Traders have been watching the S & P 500 edge closer to the key threshold of 4,100 , its high from December. AAPL 1Y line apple Apple is also important because of the signals it can send about the strength of the consumer, supply chains and China's reopening.

☆ Divided U.S. House members spar over national security committee seats
▼ + stars: | 2023-01-25 | by ( Patricia Zengerle | ) www.reuters.com time to read: +2 min

Reflecting the bitter divide in the newly seated House, where Republicans hold a slim majority, McCarthy on Tuesday formally rejected Representatives Adam Schiff and Eric Swalwell as members of the House Permanent Select Committee on Intelligence. McCarthy, who as speaker can act unilaterally appoint the members of a select committee like the intelligence panel, insists he is acting in the best security interests of the country. McCarthy and other Republican leaders also said they do not want Representative Ilhan Omar to serve on the House Foreign Affairs Committee. At least two have said they opposed her removal; Republicans have only a five-seat majority in the House. Gosar also had posted a video on social media showing him appearing to kill another House member, Democratic Representative Alexandria Ocasio-Cortez.

☆ In Peru, protesters pour from remote Andean regions, demand president resign
▼ + stars: | 2023-01-19 | by ( Associated Press | ) www.nbcnews.com time to read: +7 min

LIMA, Peru — People poured into Peru’s coastal capital, many from remote Andean regions, for a protest Thursday against President Dina Boluarte and in support of her predecessor, whose ouster last month launched deadly unrest and cast the nation into political chaos. The concentration of protesters in Lima also reflects how the capital has started to see more antigovernment demonstrations in recent days. Many protesters say that no dialogue is possible with a government that they say has unleashed so much violence against its citizens. “I think this will only keep growing.”Analysts warn that a failure to listen to demands from protesters could have tragic consequences. “We have to start to think what we want to do with Peru, otherwise this could all blow up,” Cardenas said.

☆ Pope Francis Mourns Cardinal Pell, Who Called His Reign a ‘Catastrophe’
▼ + stars: | 2023-01-15 | by ( Francis X. Rocca | ) www.wsj.com time to read: 1 min

Pope Francis on Saturday said prayers at the funeral of Cardinal George Pell in St. Peter’s Basilica. VATICAN CITY— Pope Francis said the final prayers at Cardinal George Pell’s funeral on Saturday, but didn’t lay to rest the grievances of many conservatives for whom the late cardinal was a leading spokesman. Cardinal Pell, a pugnacious Australian who died on Tuesday, served Francis as Vatican finance minister but differed sharply with the pope’s progressive approach, including his leniency on divorce and homosexuality. The late cardinal bluntly criticized his boss in a memo, published last year under a pseudonym, which described the current pontificate as “a disaster in many or most respects; a catastrophe.”

☆ Vatican holds funeral for Cardinal George Pell who decried Pope Francis’ rule
▼ + stars: | 2023-01-14 | by ( Associated Press | ) www.nbcnews.com time to read: +3 min

The Australian cardinal who decried the papacy of Pope Francis as a “catastrophe” was given a funeral Saturday in St. Peter’s Basilica, with the pontiff imparting a final blessing for the once high-ranking Vatican prelate. Cardinal George Pell, 81, died on Jan. 10, shortly after undergoing hip surgery in a Rome hospital. Pell later returned to his native Australia to be tried on child sex abuse charges over allegations that he molested two choirboys while he was archbishop of Melbourne. As is customary for funerals of cardinals, a final blessing, delivered in Latin, in the form a prayer for mercy and eternal rest, was recited by Pope Francis. Gaenswein unleashed a torrent of criticism of Francis in interviews hours after Benedict died in retirement at the Vatican on Dec. 31 and in a book published days later.

☆ Pell's secret memo casts shadow at cardinal's funeral
▼ + stars: | 2023-01-14 | by ( Philip Pullella | ) www.reuters.com time to read: +3 min

[1/7] Pope Francis attends a funeral of Cardinal George Pell in St. Peter's Basilica at the Vatican, January 14, 2023. About 300 people attended Pell's funeral Mass in a secondary chapel of St. Peter's Basilica. In keeping with tradition for deceased cardinals, the Mass was said by the dean of the College of Cardinals, Italian Giovanni Battista Re. But Pell was given a standard solemn Vatican funeral for a cardinal. Father Joseph Hamilton, Pell's personal secretary, declined to comment on Magister's report and Vatican spokesperson Matteo Bruni said it had no comment.

☆ Cardinal Pell lies in state, funeral plans overshadowed by memo revelation
▼ + stars: | 2023-01-13 | by ( Philip Pullella | ) www.reuters.com time to read: +3 min

VATICAN CITY, Jan 13 (Reuters) - Australian Cardinal George Pell was lying in state on Friday, with funeral preparations overshadowed by revelations that he was the author of an anonymous memo that branded Pope Francis' pontificate a catastrophe. Early on Friday, a reporter saw about 20 people kneeling in prayer in the church when it opened for 10 hours of lying in state. The small church, which is normally used for baptisms and weddings, is one of the oldest in the Vatican. Last year, respected Italian journalist Sandro Magister, who has a long track record of receiving leaked Vatican documents, published an anonymous memo circulating in the Vatican condemning Pope Francis' papacy as a "catastrophe". Pell will be buried in the crypt at St. Mary's Cathedral in Sydney, where he served as archbishop, the Australian Church has announced.

☆ Pell wrote secret memo calling Francis' papacy 'catastrophe', journalist says
▼ + stars: | 2023-01-12 | by ( Philip Pullella | ) www.reuters.com time to read: +4 min

"Commentators of every school, if for different reasons ... agree that this pontificate is a disaster in many or most respects; a catastrophe," the memo begins. The Vatican's political prestige is now at a low ebb." Pell appeared to like the more liberal-minded Francis personally, but not how he ran the Church. Francis supported Pell privately during the abuse saga and on the day of the acquittal offered Mass for all who suffer unjust sentences. "The political influence of Pope Francis and the Vatican is negligible.

☆ George Pell, Powerful Australian Cardinal Who Was Charged, Acquitted of Child Sex Abuse, Dies at 81
▼ + stars: | 2023-01-11 | by ( Robb M. Stewart | Stuart Condie | ) www.wsj.com time to read: 1 min

Cardinal George Pell , who cast an imposing shadow over the Roman Catholic Church from the gold-mining town he grew up in, across Australia and to Rome before a fall from grace in his 70s, has died. “It is with deep sadness that I can confirm His Eminence, George Cardinal Pell, passed away in Rome in the early hours of this morning,” Anthony Fisher , archbishop of Sydney, wrote in a post on Facebook. “This news comes as a great shock to all of us.”

☆ George Pell, Powerful Australian Cardinal Who Fell From Grace, Dies at 81
▼ + stars: | 2023-01-11 | by ( Robb Stewart | Stuart Condie | ) www.wsj.com time to read: 1 min

☆ Australian Cardinal George Pell, whose abuse conviction was overturned, dies at 81
▼ + stars: | 2023-01-11 | by ( The Associated Press | ) www.nbcnews.com time to read: +2 min

CANBERRA, Australia — Cardinal George Pell, who was the most senior Catholic cleric to be convicted of child sex abuse before his convictions were later overturned, has died in Rome at age 81. Pell, an Australian, was once the third-highest ranked Catholic in the Vatican after earlier serving as the Archbishop of Melbourne and Archbishop of Sydney. But Pell returned to his native Australia in 2017 in an attempt to clear his name of child sex charges. Pell’s reputation remained tarnished by the church’s child sex abuse scandal. Pell was born on June 8, 1941, the eldest of three children to a heavyweight champion boxer and publican also named George Pell, an Anglican.

☆ Premarket stocks: Investors are underestimating inflation...Again
▼ + stars: | 2023-01-11 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +5 min

New York CNN —Investors are holding their breath in anticipation of Thursday morning’s Consumer Price Index inflation report — arguably the most important piece of economic data so far this year. There’s a lot riding on the outcome — if inflation keeps falling, that could support a market rally, while higher-than-expected inflation could send stocks sinking. Asian stocks enter bull market as investors bet on ChinaUS stocks may be volatile, but in Asia markets are soaring. The retreat will likely cause Wells Fargo to lay off at least some employees, though the bank did not announce any specifics. The move comes as Wells Fargo continues to be in trouble with regulators.

[1/3] Australian Cardinal George Pell gestures as he speaks during an interview with Reuters in Rome, Italy December 7, 2020. Archbishop Peter Comensoli, the Archbishop of Melbourne, said Pell had died from heart complications following hip surgery. An Australian appeals court ruling in 2020 quashed convictions that Pell sexually assaulted two choir boys in the 1990s. Pell took pride in having set up one of the world's first schemes to compensate victims of child sexual abuse in Melbourne. The inquiry, known as a Royal Commission, began in 2013 a five-year investigation into child sex abuse in the Catholic Church and other institutions.

☆ Pope Francis meets Benedict's top aide as memoir rattles Vatican
▼ + stars: | 2023-01-09 | by ( Philip Pullella | ) www.reuters.com time to read: +3 min

[1/2] Pope Francis talks with Archbishop Georg Ganswein during the Wednesday general audience in Saint Peter's square at the Vatican, September 5, 2018. REUTERS/Max RossiVATICAN CITY, Jan 9 (Reuters) - Pope Francis on Monday privately met Archbishop Georg Ganswein, former Pope Benedict's closest aide, who has rattled the Vatican with a book describing what he says were the strains while two men wearing white lived within its ancient walls. The Vatican's daily bulletin listed Ganswein in the pope's schedule of audiences but as is customary gave no details. Although Francis often compared having Benedict living in the Vatican to having a grandfather in the house, the book describes some tense situations. For the first seven years after Francis was elected pope, Ganswein kept his two jobs.

☆ Book by Benedict's top aide reveals tensions in Vatican
▼ + stars: | 2023-01-06 | by ( Philip Pullella | ) www.reuters.com time to read: +4 min

[1/5] Archbishop Georg Ganswein pays homage to former Pope Benedict in St. Peter's Basilica at the Vatican, January 3, 2023. Ganswein says Benedict, in his annotated response to Francis, critiqued the way Francis had responded to questions on abortion and homosexuality. He also writes that Benedict felt Francis' decisions to restrict the use of the traditionalist Latin Mass was "a mistake". Vatican spokesman Matteo Bruni said he had no comment on the book, written with Italian journalist Saverio Gaeta and published by Piemme, an imprint of Mondadori. SERVING TWO MASTERSFor the first seven years after Francis was elected pope, Ganswein kept his two jobs - Prefect of the Pontifical Household and private secretary to the ex-pope.

☆ Funeral of Pope Emeritus Benedict seals a contradictory legacy
▼ + stars: | 2023-01-05 | by ( Donna B. Doucette | Donna B. Doucette Has Been The Executive Director Of Voice Of The Faithful Since She Also Serves On The Leadership Team Of The Association Of U.S. Catholic Priests. | ) www.nbcnews.com time to read: +7 min

It’s as if Pope Emeritus Benedict XVI, who is being laid to rest Thursday in Vatican City, has two legacies instead of one. Despite this promise and the potential for transparency, Benedict continued the church’s centuries-old preference for handling abuse cases privately. Benedict, for example, was the first pope to acknowledge the crimes of clergy sexual abuse and attempt to make amends institutionally. We quickly grew to a worldwide presence as the scope of the clergy abuse problem became apparent. Perhaps, using the contradictions and collisions of Benedict’s work, the Spirit has set in motion the 21st century path of the Catholic Church, which Pope Francis is calling us to embrace: synodality.

☆ Pope praises ‘gentle’ Benedict ahead of funeral
▼ + stars: | 2023-01-04 | by ( Associated Press | ) www.nbcnews.com time to read: +2 min

Francis is due to preside over the late German pope’s funeral on Thursday, an event that is drawing heads of state and royalty despite Benedict’s requests for simplicity and Vatican efforts to keep the first Vatican funeral for an emeritus pope in modern times low-key. In keeping with Benedict’s wishes, his remains will be placed in the crypt once occupied by the tomb of St. John Paul II in the grottos underneath the basilica. Benedict, who was elected pope in 2005 following John Paul’s death, became the first pope in six centuries years to resign when he announced in 2013 he no longer had the strength to lead the Catholic Church. After Francis was elected pope, Benedict spent his nearly decade-long retirement in a converted monastery in the Vatican Gardens. Thursday’s rite takes into account the unusual situation in which a reigning pope will preside over a funeral for a retired one, making important changes to a funeral ritual for popes that is highly codified.

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