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☆ U.S. wage growth is cooling, but some jobs are still seeing relatively big annual raises
▼ + stars: | 2024-04-15 | by ( Greg Iacurci | ) www.cnbc.com time to read: +3 min

Among them, it's highest in the legal profession: Indeed found that average workers saw their paychecks grow at a 5.7% pace in March 2024 versus a year earlier. Strong wage growth doesn't necessarily translate to a high salary, though. By comparison, software developers make $66.40 an hour and $138,110 annually on average, according to BLS data. For example, workers in accommodation and food services saw annual earnings growth peak at 16.1% in December 2021, according to ZipRecruiter data. By comparison, it found that those in the information sector saw growth peak at 7.8% in September 2022.

Persons: Julia Pollak, Allison Shrivastava, Pollak Organizations: Maskot, Workers, Finance, it's, CNBC, U.S . Bureau of Labor Statistics

☆ The Dystopian ‘Civil War’ Reaches No. 1 at the Box Office
▼ + stars: | 2024-04-14 | by ( Brooks Barnes | More About Brooks Barnes | ) www.nytimes.com time to read: +1 min

Hollywood executives — not all, but most — have insisted for years that uncomfortable, thought-provoking, original movies can no longer attract big audiences at the box office. Alex Garland’s dystopian “Civil War,” set in a near-immediate future when the United States is at war with itself, sold an estimated $25.7 million in tickets at North American theaters, enough to make the film a strong No. 1, surpassing the monsters sequel “Godzilla x Kong: The New Empire.” Ticket sales for “Civil War” exceeded the prerelease expectations of some box office analysts by roughly 30 percent. IMAX screenings provided nearly 50 percent of the “Civil War” gross. “Civil War,” starring Kirsten Dunst as a journalist on a military embed, became the latest example of ticket buyers breaking with Hollywood’s conventional wisdom about what types of films are likely to pop at the box office.

Persons: —, Alex Garland’s, ”, Kirsten Dunst, Christopher Nolan’s “ Oppenheimer Organizations: North, “ Locations: United States

☆ The Russell 2000 smallcaps lost about 3% last week and could face still more trouble ahead
▼ + stars: | 2024-04-13 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

This month's rout in smallcap stocks has erased the Russell 2000's sparkling first quarter gain, and the benchmark index for smaller shares could face further trouble ahead so long as interest rates are left unchanged. A hotter-than-expected March inflation report on Wednesday pushed investors on Wall Street to extend out expectations for the Federal Reserve's first interest rate cut to September from June, according to the CME Group's FedWatch tool . The Fed's last interest rate increase in the current cycle was in July, 2023. Servicing debt Hall specifies that the risk to smallcaps is tied to the effect of higher interest rates on refinancing needs. "Higher for longer [interest rates have] generally been good for small cap stocks.

Persons: Russell, Smallcaps, They're, Jill Carey Hall, Hall, Steven DeSanctis, DeSanctis Organizations: Wall, Federal, Bank of America, Bank of, Jefferies Locations: U.S

☆ Morgan Stanley sees 'hot summer' ahead for energy sector, gives its favorite picks
▼ + stars: | 2024-04-12 | by ( Spencer Kimball | ) www.cnbc.com time to read: +2 min

A robust oil outlook on stronger-than-expected demand this year should provide a "hot summer" for energy stocks, according to Morgan Stanley. The investment bank has upgraded the energy sector to "attractive" as crude oil demand forecasts have improved on better-than-expected growth in the major economies. Morgan Stanley's top picks to play the oil rally are BP , TotalEnergies and Repsol . Strong demand combined with geopolitical risk should support Brent prices of $94 a barrel by the end of the summer, according to Rats and his colleagues. BP YTD mountain BP shares year to date BP stands out with a compelling distribution yield of nearly 11%, according to Morgan Stanley analysts.

Persons: Morgan Stanley, Morgan Stanley's, Martijn, Brent, Morgan Organizations: BP Locations: Ukraine

☆ As bank earnings come out, here are the red flags to watch out for this season
▼ + stars: | 2024-04-12 | by ( Bob Pisani | ) www.cnbc.com time to read: +4 min

For example, we now have a higher interest rate environment that will add more pressure on deposit costs. There is anticipation of more builds for reserves, particularly for commercial real estate, but also possibly for credit cards. The commercial real estate problem is the main issue. "Anything that's levered like commercial real estate, it's a different world," Tom Michaud, CEO of Keefe, Bruyette & Woods, said in a recent interview on FactSet. "I expect more commercial real estate losses in every category, the question is whether it is going to be cataclysmic or is it going to be manageable."

Persons: Financials, Banks, Morgan Stanley, Wells, Wells Fargo, it's, Tom Michaud, Keefe, Woods Organizations: UBS, Credit Suisse, Bank of America, JPMorgan, Federal Reserve, First Republic, Regional Bank ETF, Bank, Allstate, Travelers Locations: Wells Fargo, Treasurys, Hartford

☆ Bad news for Biden (and all Americans): Inflation is creeping higher at the worst time
▼ + stars: | 2024-04-11 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +4 min

But, if you’re President Joe Biden, now is a particularly bad time for inflation to reaccelerate. On the other hand, bad economic data, especially regarding inflation, almost certainly guarantees people aren’t going to be feeling better about the economy. Significant progress over the past two years in getting inflation down from multi-decade highs has been of little help to struggling Americans. “We have more to do to lower costs for hardworking families,” he said. The shelter index, a broader component of the inflation report that covers a majority of housing expenses, is up 5.7% year-over-year.

Persons: CNN Business ’, New York CNN — There’s, Joe Biden, Biden, hasn’t, Ron Klain, ”, Ian Maule, he’s, CNN Biden, “ Organizations: CNN Business, New York CNN, Labor, Politico, Biden, Center, CNN, Republican Locations: New York, Las Vegas , Nevada

☆ Congress cut funds cities need to handle the migrant surge
▼ + stars: | 2024-04-11 | by ( Tami Luhby | ) edition.cnn.com time to read: +7 min

Congress last month approved the fiscal year 2024 funding level for FEMA’s Shelter and Services Program in the federal funding package, nearly six months into the fiscal year. Rep. Joaquin Castro, a Democrat who represents San Antonio, said that immigration is a federal responsibility. “Funding from the Shelter and Services Program (SSP) has helped Catholic Charities and other groups in my city of San Antonio offer basic migrant services without straining local resources. “Due to the substantial demand that exceeds the limited SSP program funding authorized by Congress, not all requests can be fulfilled,” a DHS spokesperson told CNN. The Migrant Resource Center opened in July 2022 as a temporary place for migrants traveling through San Antonio.

Persons: of San Antonio doesn’t, Biden, Joaquin Castro, ”, of San Antonio, Antonio Fernandez, Fernandez, Greg Abbott, Mark Ritacco, John Giles, Giles, Ron Nirenberg, he’s, Joe Biden, Carlos Kosienski, Priscilla Alvarez Organizations: CNN, of San, Resource Center, Federal Emergency Management Agency, Democrat, “, Shelter, Services, Catholic Charities, Catholic, San, FEMA, GOP Texas Gov, Democratic, Republicans, Department of Homeland Security, Congress, National Association of Counties, US Customs, Protection, US, Mayors, Migrant Resource Center Locations: San Antonio, Washington, DC, Cities, Mexico, Atlanta ; Chicago ; New York City, Albuquerque , New Mexico, Laredo , Texas, Riverside County , California, Pima County , Arizona, Mesa , Arizona, Texas

See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates would impact your monthly payments. 20-Year Fixed Mortgage Rates Increase (+0.15%)The average 20-year fixed mortgage rate is 15 points up from where it was last week, and is sitting at 6.30%. 15-Year Fixed Mortgage Rates Rise (+0.20%)The average 15-year mortgage rate is 6.11%, up from last week. Mortgage Refinance Rates30-Year Fixed Refinance Rates Decrease (-0.30%)The average 30-year refinance rate is 7.06%, 30 basis points lower than last week. Mortgage rates also rose dramatically in 2023, though they started trending back down toward the end of the year.

Persons: you'll, It's, refinance Organizations: Federal Reserve, Mortgage Bankers Association, Zillow, FHA Locations: Chevron

☆ Consumer prices rose 3.5% from a year ago in March, more than expected
▼ + stars: | 2024-04-10 | by ( Jeff Cox | ) www.cnbc.com time to read: +1 min

Tom Williams | Cq-roll Call, Inc. | Getty ImagesThe consumer price index accelerated at a faster than expected pace in March, pushing inflation higher and likely keeping the Federal Reserve on hold with interest rates. Shelter and energy costs drove the increase on the all-items index. Food prices increased just 0.1% on the month and were up 2.2% on a year-over-year basis. The measure for meat, fish, poultry and eggs climbed 0.9%, pushed by a 4.6% jump in egg prices. Elsewhere, used vehicle prices declined 1.1% and medical care services prices rose 0.6%.

Persons: Tom Williams, Dow Jones Organizations: Washington , D.C, Cq, Inc, Getty, Federal Reserve, Labor Department's Bureau of Labor Statistics, CPI Locations: Washington ,

☆ Housing Costs Continued to Rise Faster Than Before the Pandemic
▼ + stars: | 2024-04-10 | by ( Ben Casselman | More About Ben Casselman | ) www.nytimes.com time to read: +1 min

Housing costs rose 0.4 percent in March and were up 5.7 percent from a year earlier, both unchanged from the month before. Shelter inflation has cooled since last year, when it peaked at more than 8 percent, but lately that progress has slowed. Housing is by far the largest monthly expense for most families, which means it also weighs heavily in inflation calculations. Before the pandemic, shelter costs rose at a rate of about 3.5 percent per year. Housing costs in the Consumer Price Index are based on rents.

Organizations: Federal Reserve

☆ Multi-strategy hedge funds in Hong Kong and Singapore are booming. Here's why they're tapping the Middle East to get to the next level.
▼ + stars: | 2024-04-09 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +7 min

To Danny Yong, the Middle East is still Asia. In particular, multi-strategy hedge funds, the industry subset that large allocators are desperate for thanks to their uncorrelated and consistent returns, are growing in markets like Hong Kong and Singapore. Houston-based Pan Capital is planning to hire macro PMs in Hong Kong this year. These people-heavy firms need plenty of talent to make it all work, and the relatively small size of the Singapore market, coupled with political uncertainty in Hong Kong, puts a strain on the entire system. "Managers follow allocator trends, and the Middle East has been actively allocating while other regions have slowed their deployment.

Persons: Danny Yong, firm's, Yong, there's, Kurt Baker, Jonathan Xiong, Bobby Jain, Amir Ravan, Arun Singhal, Alan Howard, Simon Sadler, Dymon, Samantha Rosenstock, Craig Thorburn, It's, Joe Cheung, —, Cheung Organizations: Business, Dymon, UAE, Millennium, Bloomberg, Pan, Segantii Capital Management, Blackpool Football Club, Man, Hong Kong Monetary Authority, Citadel Locations: Asia, Japan, Hong Kong, Singapore, Dubai, Dymon Asia, Houston, Point72, Tokyo, Sidney, Abu Dhabi, United Kingdom, London, Miami, New York, China

Nestled against the Rocky Mountains, Boulder, Colorado, has blossomed into a thriving hub for the natural products and wellness industry. The tea company was later acquired by Hain Food Group — now Hain Celestial Group — in 2000 for $390 million. Hain Celestial Group CEO Wendy Davidson (left) and CNBC's Andrea Day (right) trekking along the historic footrails where the founders of Celestial Seasonings gathered wild herbs in 1969. Turning peanut butter into goldThe Boulder County Farmers Market, a vibrant incubator since 1987, exemplifies the region's thriving ecosystem. A sign from the Boulder Farmers Market, operating from April to November, serving as an incubator for numerous small food businesses.

Persons: Wendy Davidson, CNBC's Andrea Day, Davidson, It's, Justin Gold, butters, —, Gold, Daniel Acker, Juan Stewart, Stewart, Kristine Carey, Kristy Lewis, Quinn Snacks Organizations: U.S . News, Rockies, Hain Food, Group, CNBC, Leeds School of Business, University of Colorado, Farmers, Boulder Farmers, Foods, Hormel Foods, Bloomberg, Getty, Boulder County Farmers, Kroger, Companies Locations: U.S, CNBC's, Rocky, Boulder , Colorado, Boulder, University of Colorado Boulder, Tiskilwa , Illinois, Boulder County

Average 30-year mortgage rates increased to 6.82% last week, according to Freddie Mac. Though it's possible mortgage rates won't ever go that low again, they are expected to drop a bit this year. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates would impact your monthly payments. 30-year Fixed Mortgage RatesThe average 30-year fixed mortgage rate was 6.82% last week, according to Freddie Mac. Once the Fed cuts rates, mortgage rates should fall even further.

Persons: Freddie Mac, you'll, it's Organizations: National Association of Realtors, Mortgage Bankers Association, Zillow, Federal Reserve Locations: Chevron

☆ 'Big bargains': Morgan Stanley names 3 overlooked global tech stocks, giving one almost 100% upside
▼ + stars: | 2024-04-08 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

In Europe — much like in the U.S. — a few key stocks have been driving the market, especially earlier this year, according to Morgan Stanley. In late February, just five stocks were responsible for 60% of European stock market gains year-to-date, the bank said. The company has grown into one of the largest, most integrated payment providers, Morgan Stanley said. Exclusive Networks Morgan Stanley says this is one of the largest and fastest-growing specialist distributors of cybersecurity products globally. The nature of threats is constantly changing, and so the products offered by the vendors – and the vendors themselves – are constantly changing," Morgan Stanley said.

Persons: Morgan Stanley, CompuGroup Morgan Stanley, Networks Morgan Stanley, — CNBC's Michael Bloom Organizations: Solutions, Networks Locations: Europe, U.S, —, Germany, France, Austria

☆ Mortgage-backed securities offer high-quality income and are relatively cheap, UBS says
▼ + stars: | 2024-04-08 | by ( Michelle Fox | ) www.cnbc.com time to read: +2 min

Investors looking for high-quality income, as well as a bargain, should turn to agency mortgage-backed securities, according to UBS. Agency MBS are debt obligations backed by the government and are issued by agencies such as Fannie Mae, Freddie Mac and Ginnie Mae. However, agency MBS lagged their higher-quality counterparts because they are highly correlated to interest rate volatility, she said. As gross domestic product slowly trends lower, the market will become more comfortable with the likelihood of the Fed cutting rates, Falconio said. Banks, which have been investing excess deposits in Treasurys, will be among those turning to agency MBS, Falconio said.

Persons: Leslie Falconio, Fannie Mae, Freddie Mac, Ginnie Mae, Falconio, Janus Henderson, Banks Organizations: UBS, CNBC, Agency MBS, Federal Reserve, MBS, SEC, Securities ETF Locations: UBS Americas, Treasurys

☆ A Chinese smartphone maker is breaking into EVs and challenging Tesla. How the stock rates now.
▼ + stars: | 2024-04-07 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

Just as the auto industry was grappling with BYD 's rapid rise, Chinese smartphone company Xiaomi has burst into the market — undercutting Tesla and vowing to become a global player. Meanwhile, Tesla last week revealed that its deliveries fell in the first quarter from a year ago . While he still likes Tesla longer-term , he and his team will hold a client webinar on Xiaomi, Tesla and global EVs on Tuesday. Xiaomi shares nearly reached that price during last week's surge. Meanwhile, Tesla shares are down 34% year to date.

Persons: BYD, Tesla, Lei Jun, Xiaomi, Morgan Stanley, Adam Jonas, Jonas, Morgan, Andy Meng, Meng, Taylor Ogan, Lei, Ogan, BEV, Nick Lai, Gokul Hariharan, Janet Yellen, overcapacity Organizations: Apple, Hong, Snow Bull, EV, JPMorgan, Treasury Locations: Hong Kong, China, Shenzhen, U.S

☆ Mark Cuban says everyone has the potential to be ‘world-class great’ at one thing—here’s how to identify yours
▼ + stars: | 2024-04-07 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +3 min

Mark Cuban believes you're capable of greatness — as long as you stay open-minded enough to discover your strengths. "I'm a hardcore believer that everybody has something that they're really, really, really good at — that could be world-class great. "I [only] took one technology class in college, Fortran programming, and I cheated on it," Cuban said. "That's when I realized that I can be really, really good at technology." After getting fired from that sales job, Cuban started a software company called MicroSolutions, which he sold to CompuServe for $6 million in 1990.

Persons: Mark Cuban, Lex Fridman, he'd, Cuban Organizations: Cuban, Mellon Bank, Mellon, CompuServe, Yahoo, CNBC Locations: Pittsburgh, Dallas, Cuban

☆ Thanks to Caitlin Clark, women’s basketball is now prime time viewing
▼ + stars: | 2024-04-05 | by ( Harry Enten | ) edition.cnn.com time to read: +6 min

CNN —Two years ago, I could never have predicted the hype which surrounds tonight’s NCAA women’s basketball Final Four. Women’s college basketball is not just on the map for casual fans, it’s a star on the map – thanks at least, in large part, to Iowa star Caitlin Clark. Women’s college basketball is beating America’s pastime. More people have been searching women’s college basketball than for US President Joe Biden. Check the prices for the men’s and women’s college basketball Final Four.

Persons: didn’t, Muffet McGraw, it’s, Caitlin Clark, Let’s, Angel Reese’s, Clark, Reese, Andy Lyons, Dee Vanderhoef, Rebecca Gratz, Joe Biden Organizations: CNN, NCAA, Angel Reese’s LSU, ESPN, Iowa, LSU, Stanley, ABC, Iowa Hawkeyes, Holy Cross Crusaders, UConn, USC, Google Locations: Iowa

So we could see mortgage rates start trending down more substantially in just a couple of months. As the Fed lowers its benchmark rate, mortgage rates should move down, too. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates would impact your monthly payments. 15-Year Fixed Mortgage Rates Inch Up (+0.09%)The average 15-year mortgage rate is 5.87%, up slightly from last week. Mortgage Refinance Rates30-Year Fixed Refinance Rates Decrease (-0.31%)The average 30-year refinance rate is 7.50%, 31 basis points lower than last week.

Persons: they're, Jerome Powell, they'll, you'll, refinance, It's Organizations: Federal Reserve, Fed, Zillow, FHA Locations: Chevron

☆ Mark Cuban says he broke his No. 1 negotiating rule to buy the Dallas Mavericks: 'I was just like, yes'
▼ + stars: | 2024-04-03 | by ( Ashton Jackson | ) www.cnbc.com time to read: 1 min

On television, Mark Cuban is a savvy and patient negotiator. But when the entrepreneur was a newly minted billionaire with cash to spend, he used a different tactic to buy the NBA's Dallas Mavericks. "It was all about fun," Cuban, 65, told NBA player Draymond Green's podcast, "The Draymond Green Show," on Monday. The following year, Cuban — a self-proclaimed basketball junkie — acquired a majority stake in the Mavericks for $285 million, from real estate developer Ross Perot Jr. The moment the deal was signed, Cuban hit the ground running, he told Green: "It was done.

Persons: Mark Cuban, Draymond, —, Ross Perot Jr, Green Organizations: Dallas Mavericks, Yahoo, Mavericks Locations: Cuban

☆ Ulta shares fall as CEO warns beauty demand is slowing
▼ + stars: | 2024-04-03 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +3 min

People walk past an Ulta Beauty store in the Manhattan borough of New York City, New York, U.S., March 8, 2022. Ulta Beauty shares tumbled about 13% on Wednesday as CEO Dave Kimbell warned of cooling demand for beauty products. "We have seen a slowdown in the total category," Kimbell said at an investor conference hosted by JPMorgan Chase. Target has opened a growing number of Ulta Beauty shops in its stores. So far this year, Ulta shares are down nearly 8%, trailing the nearly 10% gains of the S&P 500.

Persons: Dave Kimbell, Estee Lauder, Kimbell, JPMorgan Chase, Ulta Organizations: Coty, JPMorgan Locations: Manhattan, New York City , New York, U.S

☆ Intel shares fall after company reveals $7 billion operating loss in foundry business
▼ + stars: | 2024-04-02 | by ( Kif Leswing | ) www.cnbc.com time to read: +2 min

Intel shares fell 4% at one point in extended trading on Tuesday after the company revealed long-awaited financials for its semiconductor manufacturing business, commonly called the foundry business, in a SEC filing. Intel said its foundry business recorded an operating loss of $7 billion in 2023 on sales of $18.9 billion. That's a wider loss than the $5.2 billion Intel reported in its foundry business in 2022 on $25.7 billion in sales. "Intel Foundry is going to drive considerable earnings growth for Intel over time. 2024 is the trough for foundry operating losses," Gelsinger said on a call with investors on Tuesday.

Persons: Patrick Gelsinger, Gelsinger Organizations: Intel, SEC, Nvidia, AMD, Microsoft, Intel Foundry Locations: American

☆ Russia's economy is now so isolated that it has few options other than the Chinese yuan for its reserves
▼ + stars: | 2024-04-01 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Russia's central bank says it has few alternatives other than the Chinese yuan as a key reserve asset. "These factors predetermine the key role of the Chinese yuan in the formation of reserve assets," it said. AdvertisementA state of increasing isolationRussia's increasing reliance on the yuan shows its economy is becoming increasingly isolated in the international trade and finance system. Moscow's reliance on the Chinese yuan comes with risks. Russian companies that borrow in the Chinese yuan are facing increased lending costs, Bloomberg reported last month.

Persons: —, Vladimir Putin, SWIFT Organizations: Service, Central Bank of Russia, Bloomberg Locations: Russia, Russian, Ukraine, India, China, Moscow, EU

LOS ANGELES (AP) — The Godzilla-King Kong combo stomped on expectations as “ Godzilla x Kong: The New Empire ” roared to an $80 million opening on 3,861 North American screens, according to Sunday studio estimates. “ Dune: Part Two ” stayed strong in its fifth week, falling in the third spot with an $11.1 million take and a domestic total of 252.4 million. Photos You Should See View All 60 ImagesThe newer film had the second biggest opening of the studios' broader MonsterVerse franchise. “Godzilla x Kong: The New Empire,” 80 million. “Ghostbusters: Frozen Empire,” $15.7 million.

Persons: ”, Rebecca Hall, Brian Tyree Henry, HBO Max, Comscore, Kung, “, “ Arthur the King Organizations: ANGELES, Warner Bros, Pictures, HBO, “ Locations: Kong

☆ Top Wall Street analysts pick these 3 stocks for attractive returns
▼ + stars: | 2024-03-31 | by ( Tipranks.Com Staff | ) www.cnbc.com time to read: +6 min

Wall Street analysts are ignoring the short-term noise and remain focused on companies that have strong fundamentals and can generate attractive returns in the long run. Bearing that in mind, here are three stocks favored by the Street's top pros, according to TipRanks, a platform that ranks analysts based on their past performance. Micron TechnologyThis week's first stock pick is memory chipmaker Micron Technology (MU), which impressed investors with its strong quarterly performance. Bolton noted that Micron's HBM3E memory solution generated revenue in the fiscal second quarter and has already sold out for calendar year 2024. He highlighted management's commentary about generating several hundred million dollars of revenue from HBM3E in fiscal 2024 and driving fiscal 2025 revenue to record highs.

Persons: Needham, Quinn Bolton, Bolton, TipRanks, LULU, Robert Drbul, Drbul, Christopher Rolland, Rolland Organizations: Wall Street, Micron, Micron Technology, MU, Bolton, Broadcom, Susquehanna, Symantec, VMware Locations: Santa Monica, United States, U.S

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