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Premarket stocks: The return of the Reddit investor
  + stars: | 2023-03-09 | by ( Nicole Goodkind | ) edition.cnn.com   time to read: +6 min
What’s happening: Retail investors are pouring a record $1.5 billion per day into the stock market, according to data from Vanda Research. Brunswick has conducted its annual survey on the digital habits of institutional investors for over a decade. This year, it polled 257 institutional investors across North America, the United Kingdom, and the European Union. Retail investors amass funds, and power: Retail investors now account for half of all wealth globally, according to a recent report by Bain & Company. Fed officials have expressed concern that a tight labor market could keep upward pressure on wages and, in turn, inflation.
Forensic evidence from a bullet-damaged wall sheds light on the Nazi occupation of a British island. During World War II, thousands of prisoners were sent to labor and concentration camps in Alderney. Before the Germans occupied the Channel Islands, the whole population of Alderney were evacuated to England. German occupying troops parading in St. Helier on Jersey, Channel Islands in 1940. Last year a right-wing British think tank proposed that asylum seekers headed to the UK be detained on the island.
Washington CNN —Two Democratic senators urged Meta this week to suspend a reported plan to offer Horizon Worlds, the company’s flagship virtual reality app, to teens between the ages of 13 and 17, arguing the technology could harm young users’ physical and mental health. The lawmakers, Massachusetts Sen. Ed Markey and Connecticut Sen. Richard Blumenthal, called Meta’s plan “unacceptable” in light of the company’s “record of failure to protect children and teens,” in a letter dated Wednesday to company CEO Mark Zuckerberg. Horizon Worlds is already available to adults 18 and older. The calls for caution come as social media platforms have faced years of scrutiny over their impact on young users, including their potential to lead teens down harmful rabbit holes. Other platforms, including Instagram and Snapchat, have similarly rolled out additional parental controls and features that encourage teens to take a break and set boundaries.
China’s Post-Covid Bounce Has Arrived
  + stars: | 2023-03-01 | by ( Nathaniel Taplin | ) www.wsj.com   time to read: 1 min
A heavy-machinery factory in Xuzhou, China. The country’s manufacturing rose in February to the highest levels since 2012. China’s economy has kicked off the year of the rabbit with a bounce worthy of its sprightly zodiac avatar. The January and February Chinese purchasing managers indexes are always worth watching because they are one of the few pieces of concrete data to emerge from China in late winter and early spring. Both the official and privately compiled Caixin manufacturing indexes jumped, with the former reaching 52.6, its highest since 2012.
CNN —TikTok announced Wednesday that every user under 18 will soon have their accounts default to a one-hour daily screen time limit, in one of the most aggressive moves yet by a social media company to prevent teens from endlessly scrolling. Teenage TikTok users will be able to turn off this new default setting, which will roll out in the coming weeks. The move comes after TikTok and other social media platforms have faced years of scrutiny over their impact on young users, including their potential to lead teens down harmful rabbit holes. TikTokKeenan added that if a teen decides to turn off this new default limit and spends more than 100 minutes on TikTok a day, they will be prompted to set a daily screen time limit for themselves. Parents will be able to filter videos with words or hashtags they don’t want to appear in their teen’s feed, set a custom daily screen time limit for their teen, and set a custom schedule to mute TikTok notifications sent to their teen.
First Nations ice fishermen risk going out on ice as climate change affects the quality of the ice. He blames climate change for the unseasonal weather and worries ice fishing season will only get shorter in future. "People tell us across the board they would like more traditional food but there are barriers, and one of them is climate change," Batal said. Families in communities like Kitigan Zibi wind up spending more in grocery stores to supplement their diet. Reporting by Blair Gable in Kitigan Zibi and Nia Williams in British Columbia Editing by Denny Thomas and Rosalba O'BrienOur Standards: The Thomson Reuters Trust Principles.
Surging Shanghai metal stocks have injected an element of doubt into the bull narrative and the LME Index is now showing year-to-date gains of only 3% after a February pull-back. Shanghai Futures Exchange stocks of aluminium, copper and zincSEASONAL SURGEMetals bulls have been nervously watching the fast build in Shanghai Futures Exchange (ShFE) stocks over the past few weeks. Copper stocks have grown equally dramatically, from 69,268 tonnes to 242,009 tonnes over the same period. It is currently assessed by Shanghai Metal Market at a bombed-out $22.50 a tonne, down from an October high of $152.50. WAIT AND WATCHIt's difficult to say until China's seasonal stocks pattern plays out in full.
The "Fast Money" traders are at odds over Tesla with a key event ahead. Even though Tesla shares rallied on CEO Elon Musk's plans to unveil his "Master Plan 3" at investor day on March 1, trader Julie Biel warns gains will likely stall. Tesla shares initially rallied on last Wednesday's announcement. "He's got his Twitter and Tesla bros behind him, and that's a meaningful force for the stock." Grasso got long on Tesla last Wednesday, and he plans to stick with the stock through investor day.
PHOENIX, Feb 10 (Reuters) - Patrick Mahomes will look to pull one more rabbit out of his hat on Sunday as the Kansas City Chiefs face the Philadelphia Eagles at Super Bowl 57. Mahomes overcame a high-ankle sprain in the divisional round to get the Chiefs to their third Super Bowl in four years, producing a heroic late-game sprint to help clinch the AFC Championship. Mahomes has helped his favorite target Travis Kelce become one of the greatest tight ends ever to play the game. Kelce is keen to banish memories of their last Super Bowl appearance two years ago, when Tom Brady's Tampa Bay Buccanneers humiliated them 31-9. "The last taste I had in my mouth of the Super Bowl, it wasn't too good," said Kelce, who will make history at State Farm Stadium with his brother, Eagles center Jason Kelce, as the first siblings to play each other in a Super Bowl.
The House "Weaponization of the Federal Government" subcommittee is holding its first hearing. The White House likened it to a "reboot of McCarthyism" designed to help Republicans get on Fox News. The hearing will cover "the politicization of the FBI and DOJ and attacks on American civil liberties." The hearing led by House Judiciary Chairman Jim Jordan will include witness testimony from Fox News commentators, the White House notes. Jordan, in a House floor speech last month, rejected the notion that the committee is a "ploy" and said whistleblowers have talked to Republicans about alleged government intrusions.
Paramount+ (formerly CBS All Access) is beefing up by bringing sister network Showtime into the fold. "The shows with rich, deep libraries are the ones that get a lot of consumption," said Paramount+ streaming chief Tanya Giles. But Paramount+ (formerly CBS All Access) is beefing up by bringing sister network Showtime into the fold — rebranding both the Showtime cable network and the streamer as Paramount+ With Showtime. Paramount+ is also building upon its library with originals: The streamer recently revived "Criminal Minds," which aired on CBS for 15 seasons. In anticipation of "Criminal Minds: Evolution," viewership of the original CBS "Criminal Minds" jumped 46%, a Paramount+ spokeperson shared with Insider.
Liu Ranyang | China News Service | Getty ImagesTech investors say the worst is over as China reopens and exits its zero-Covid policy. The firm raised nearly $500 million for a new China tech fund set to close by early this year — more than earlier plans for $400 million. Tech companies see government supportInvestors are not worried of new challenges on the regulatory front. Gobi's Tang said, "I do think that they're going to do everything they can to try to spur the economic growth. "There's still a lot to catch up [in semiconductor tech] for China.
Dayana Sabatin left a six-figure tech job after six months because she was miserable. But it wasn't always this wayFive years ago, I was working as a financial analyst at a tech company, with a $100,000 salary. I saw what my life was going to look like in 20 to 30 years, and the thought terrified me. Here are a few signs you should pay attention to if you're trying to figure out if it's time to quit your job. It's okay that the job you thought you'd love isn't actually suited for you — and it's okay to start over.
Analysts are willing to overlook Alphabet' s disappointing quarter in lieu of its artificial intelligence push and focus on costs. Shares of the search giant fell more than 4% after the company missed Wall Street's expectations for the fourth quarter. But, analysts lauded the company's focus on artificial intelligence as it faces mounting pressures from popularized Microsoft-backed chatbot ChatGPT . Alphabet CEO Sundar Pichai said the company plans to release its LaMDA language model with search components "very soon." GOOGL 1D mountain GOOGL falls after earnings Analysts also cited some confidence in the company's push to reengineer its cost structure and reduce inefficiencies.
Monday: Tyson Foods, Simon Property GroupTyson FoodsQ1 2023 earnings release at 7:30 a.m. Simon Property GroupQ4 2022 earnings release at 4:05 p.m. Tuesday: Chipotle Mexican Grill, Enphase EnergyChipotle Mexican GrillQ4 2022 earnings release at 4:10 p.m. Wednesday: CVS Health, DisneyCVS HealthQ4 2022 earnings release at 6:30 a.m. Newell BrandsQ4 2022 earnings release at 6 a.m.
The startup Wally Health provides dental cleanings and preventative care for $199 a year. Take a look at the pitch deck Wally used to raise a $3 million seed round led by Bling Capital. That experience inspired the creation of his startup, Wally Health, which has raised $3 million in a seed round led by Bling Capital. Years before Wally, Burnett had launched businesses in media and fintech back in his native Canada. After raising a pre-seed round, Burnett and his cofounders started building Wally's proof of concept about a year ago in an office in New York's Upper East Side.
Oral arguments focused on whether something called the "Trump Organization" legally exists. The judge, meanwhile, warned that "come hell or high water" an October trial will not be delayed. "Come hell or high water, and pardon my French," the judge added of his set-in-stone trial start time: 10 a.m. on Monday, October 2, 2023. It's shorthand for them, as well — James' lawsuit references "the Trump Organization," for convenience's sake, some 300 times in its 222 pages. The judge urged the attorney general's office and the defendants' lawyers to avoid a protracted argument over sanctions.
It's the Lunar New Year, and according to Asian folklore, the incoming Year of the Rabbit is a good time to slow down, reflect and strive for balance around work, money and life. "It was a consume, consume, consume kind of year. Laura Lau, the co-author of "The Handbook of Chinese Horoscopes," says the rabbit sign is one that prizes patience and diplomacy over confrontation. "It's a time that will be hard for people to work together, deal with conflict and work in groups again," she says. "The rabbit is a sign of peace, so cultivating empathy in work relationships will lead to flourishing in one's profession," he says.
HONG KONG, Jan 27 (Reuters Breakingviews) - China’s first big vacation of 2023 offers shallow relief to investors. Passenger car sales dropped 21% from the same festive period last year, per Nomura analysts, and real estate keeps plunging. Central bankers terrified that China’s reopening will fuel more global inflation will be relieved. Chinese consumers enjoyed their holiday but there was little sign of dramatic “revenge consumption.” Scarred consumers have too many reasons to avoid splurging for the foreseeable future. The opinions expressed are her own)Follow @ywchen1 on TwitterloadingCONTEXT NEWSMainland China’s Lunar New Year holiday runs from Jan. 21 to Jan. 27 in 2023.
Oil prices were steady after U.S. crude stocks rose less than expected, while gold hit a 9-month peak. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) climbed 1.1% and was set for its fifth straight day of gains. The report could mark the last quarter of solid growth before the lagged effects of the Fed's jumbo rate hikes kick in. Oil prices were steady after U.S. crude stocks rose less than expected. Gold prices touched a nine-month high, with spot gold at $1,941 per ounce, after hitting $1,949.09 earlier in the day.
MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) climbed 0.9% to 557.65 and was set for its fifth straight day of gains. Trading was thin on Thursday with Australia closed for a holiday and certain parts of Asia, including China, still away for the Lunar New Year. Investor attention will also be on the Bank of England and European Central Bank meetings due next week, with traders looking for clues as to when the central banks are likely to turn dovish. U.S. West Texas Intermediate (WTI) crude rose 0.09% to $80.22 per barrel, while Brent was at $86.05, down 0.08% on the day. Gold prices touched a nine-month high, with spot gold at $1,945.55 per ounce, after hitting $1,949.09 earlier in the day.
Hardman does research on microplastics — tiny pieces of plastic debris that are broken down from larger plastic items. Microplastics are often too small to pick up or even notice, but they are everywhere: in the air, dust, and rain. Laura HardmanPlastic is a relatively new pollutant, so there's still a lot we don't know about it. In the lab, my team of researchers and I focus on the sources, effects, and fate of plastics in the ocean. The simple answer is we don't know what plastics might be doing to us, but I've started to get really concerned.
Swatch positive on recovery in luxury demand from China
  + stars: | 2023-01-24 | by ( John Revill | ) www.reuters.com   time to read: +3 min
SummarySummary Companies Says January sales have exceeded January 2022Company now expects record sales for 2023Stock hits highest level since July 2021ZURICH, Jan 24 (Reuters) - Swatch Group (UHR.S) shares hit their highest level in nearly two-and-a-half years on Tuesday after the world's biggest watchmaker said it expected a recovery in luxury demand from China. The sales growth in January in China reinforces the Group's expectation to aim for a record year in 2023." The outlook sent Swatch's shares to their highest level since July 2021, and was the latest positive signal for the luxury sector at the start of the Chinese Year of the Rabbit. "To reach the record sales number of 2014 Swatch Group would need to have growth of 16% in 2023," said Patrik Schwendimann of Zuercher Kantonalbank. Europe's luxury sector($1 = 0.9192 Swiss francs)Reporting by John Revill; editing by Kirsten Donovan and Jason NeelyOur Standards: The Thomson Reuters Trust Principles.
They are expected to see a deceleration in sales growth over the quarter as the post-pandemic splurge on designer fashions begins to ease in the United States and Europe. Hermes (HRMS.PA), which reports fourth-quarter results on Feb. 17, is expected to show sales growth of 17%, a decline from 24% in the third quarter. Luxury spending by Chinese nationals had dipped from 33% of the global personal luxury goods market in 2019 to as little as 17% last year, according to estimates from consultancy Bain. Burberry's like-for-like sales growth slowed sharply to 1% in the quarter to end-December after a 23% fall in mainland China. Although the Chinese are expected to initially resume travelling within Asia, Europe is a region that particularly stands to benefit from a return of Chinese tourists.
They are expected to see a deceleration in sales growth over the quarter as the post-pandemic splurge on designer fashions begins to ease in the United States and Europe. Hermes (HRMS.PA), which reports fourth-quarter results on Feb. 17, is expected to show sales growth of 17%, a decline from 24% in the third quarter. Luxury spending by Chinese nationals had dipped from 33% of the global personal luxury goods market in 2019 to as little as 17% last year, according to estimates from consultancy Bain. Burberry's like-for-like sales growth slowed sharply to 1% in the quarter to end-December after a 23% fall in mainland China. Although the Chinese are expected to initially resume travelling within Asia, Europe is a region that particularly stands to benefit from a return of Chinese tourists.
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