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☆ As John Fetterman heals, his Senate staff soldiers on with the help of veteran lawmakers and crisis bonding: 'We all have each other's back'
▼ + stars: | 2023-03-20 | by ( Warren Rojas | ) www.businessinsider.com time to read: +9 min

Sen. John Fetterman has been hospitalized for clinical depression since February 15. Casey is coordinating with Fetterman staff on constituent services issues and legislative priorities, according to recent reports, but doesn't call Fetterman directly so as not to disturb his ongoing recovery. Some of the others working hard to meet that internal standard include legislative assistant Madeleine Marr, a former aide to Democratic Sen. Maggie Hassan of New Hampshire. Conservative commentator Stephen L. Miller has been more blunt, accusing Fetterman's staff of unduly wielding power in his absence. "John Fetterman's chief of staff is not an elected senator," Miller wrote in an op-ed run by the Delaware Valley Journal.

Another atmospheric river storm brought strong winds, rainfall and flooding to California this week, prompting levee breaches and mudslides and breaking decades-old rainfall records across the state. Only about 36% of California now remains in drought, according to data from the U.S. Drought Monitor released on Thursday. Since the storms have eased some water supply shortages, the board of the Metropolitan Water District of Southern California recently lifted water restrictions for nearly 7 million people. The governor noted that widespread damage across the state from the winter storms was an indication of how climate change is triggering worsening weather extremes. The state's emergency agency and private weather forecasters in January estimated that damage from California's winter storms could surpass $1 billion.

☆ As markets turn rocky, these global stocks look resilient and are expected to rally
▼ + stars: | 2023-03-15 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

Stocks slid, with the Dow Jones Industrial Average posting its fifth straight day of declines on Monday, while the 2-year Treasury yield tumbled . The screen threw up a mix of health care, consumer, utility and even some financial stocks. Canadian financial services firm Fairfax Financial Holdings and Japanese natural gas provider Tokyo Gas got among the highest expected earnings growth for this year – at more than 150% each. British bank HSBC also made it to the list, with nearly 50% expected earnings growth and 23% average upside. Italian luxury sports car maker Ferrari made the screen, with 21% expected earnings growth and around 20% upside.

☆ Tesla's price war is starting to backfire
▼ + stars: | 2023-03-14 | by ( Alexa St. John | ) www.businessinsider.com time to read: +4 min

"Tesla's price cuts started a broader round of industry price reductions," Morgan Stanley auto analyst Adam Jonas said in a note to clients on March 10. Its biggest competition there, BYD (whose stock has declined since the price war began), has also introduced discounts. "April is now the crunch to put a pause in the price war," the analysts said. But some automakers, like GM and Volkswagen, opted not to engage in the price war. "We gauge a full-blown price war would urge consumers to stay sidelined and await more promotions/discounts to come."

[1/3] A customer counts money before paying at a butcher shop, as inflation in Argentina hits its highest level in years, causing food prices to spiral, in Buenos Aires, Argentina September 13, 2022. REUTERS/Agustin MarcarianSAN FERNANDO, Argentina, March 14 (Reuters) - Argentina's annual inflation rate tore past 100% in February, the country's statistics agency said on Tuesday, the first time it has hit triple figures since a period of hyperinflation in 1991, over three decades ago. In Argentina's markets, shops and homes, the impact of spiraling prices is being felt keenly as one of the highest inflation rates in the world stretches people's wallets. Patricia Quiroga, 50, said 100% inflation was impossible to bear as she waiting on line to do her shopping. "I am tired, tired, just tired of all this, of the politicians who fight while the people die of hunger," she told Reuters.

☆ In Peru's Andes, scars of protest deaths cut deep as families seek justice
▼ + stars: | 2023-03-11 | by ( Alexander Villegas | ) www.reuters.com time to read: +5 min

[1/5] Relatives mourn victims during a mass after the deadliest clashes in anti-government protests against Peru's President Dina Boluarte, in Juliaca, Peru February 9, 2023. Brayan died of his wounds three days later on Jan. 12 in hospital after surgeons tried to clear a blockage in the brain. For Peru I'm willing to fight. Boluarte has said there will be no "impunity" when it comes to protest deaths, but families say they've seen little progress. Our dead aren't worth anything," said Dionisio Aroquipa, whose 17-year old daughter, Jhamlith Nataly, died on Jan 9.

☆ In homeland of Pope Francis, long absence prompts prayers for return
▼ + stars: | 2023-03-09 | by ( Lucila Sigal | ) www.reuters.com time to read: +5 min

[1/4] Catholic faithfuls pray during a mass at the Basilica San Jose de Flores, where Pope Francis used to attend in his childhood, in Buenos Aires, Argentina March 6, 2023. Some in Argentina claim Pope Francis as a Peronist, part of the powerful political movement forged by Juan Domingo Perón in the 1940s based on social justice values. She accused him of taking sides politically and once avoided him by shunning a traditional Mass in Buenos Aires. "We shouldn't rule out the possibility that (the pope) is concerned his presence will sharpen the political divide," De Vedia said. Bergoglio, he pointed out, had gained the nickname "Papa villero" - Pope of the villas - due to his closeness with the people.

☆ Top 10 things the Club is watching in the stock market Monday
▼ + stars: | 2023-03-06 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

Morgan Stanley's Adam Jonas raises his price target on Ferrari (RACE) to $310 per share from $280. Pfizer (PFE) started with a neutral (hold) rating. Jefferies downgrades RH (RH), formerly known as Restoration Hardware, to hold, price target to $298 per share on concerns the luxury market is struggling to stabilize. Calls the chipmaker top cloud pick with a $275-per-share price target, ahead of multiple catalysts. General Electric (GE) coverage transferred at JPMorgan, which maintains neutral (hold) rating but increases price target to $88 per share.

☆ Morgan Stanley's Jonas calls Ferrari his top pick, replacing Tesla
▼ + stars: | 2023-03-06 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Morgan Stanley has replaced Tesla as its firm-wide top pick with Ferrari . Analyst Adam Jonas increased Ferrari's price target by $30 to $310, implying the stock could rally 14.2% over the next year. Nearly half of the increase to Ferrari's price target stems from foreign exchange, as the dollar's recent fall against the euro helped the Italy-based company, Jonas said. To be sure, Jonas still rates Tesla as overweight and has a $220 price target on the stock, implying upside of 11.2% from Friday's close. RACE TSLA YTD mountain Ferrari and Tesla — CNBC's Michael Bloom contributed to this report.

☆ Stocks making the biggest premarket moves: Ferrari, Apple, KB Home and more
▼ + stars: | 2023-03-06 | by ( Michelle Fox | ) www.cnbc.com time to read: +1 min

In a note to clients, Jonas cited Ferrari's backlog and pricing power as reasons to raise his price target on the stock by more than 10%. Apple — The iPhone maker advanced 2% premarket after Goldman Sachs initiated coverage with a buy rating, saying Apple could get a big boost from its services business. The Wall Street bank's 12-month price target of $199 implies Apple could rally more than 30% from here. KB Home — The homebuilder slipped 1.4% following a double downgrade to underweight from overweight by JPMorgan. Horton, another homebuilder, fell a little more than 1% after it was downgraded by JPMorgan to neutral from overweight.

☆ Morgan Stanley's long-time Tesla bull just named Ferrari as the new top auto stock, saying its 'unmatched brand' makes it best positioned to handle macro uncertainty
▼ + stars: | 2023-03-06 | by ( Carla Mozée | ) www.businessinsider.com time to read: +3 min

Ferrari on Monday replaced Tesla as Morgan Stanley's top stock pick among automakers. Morgan Stanley sees 14% upside in the Ferrari stock, lifting its price target to $310 a share. "We see Ferrari as the most defensive name in our coverage that avoids much of the EV hype and EV risk. The investment bank raised its price target on NYSE-listed Ferrari to $310 a share from $280. The bank has a $220 price target on Tesla.

☆ This week's jobs report will help determine if this nascent March rally has legs
▼ + stars: | 2023-03-05 | by ( Zev Fima | ) www.cnbc.com time to read: +6 min

Where the market heads next will once again depend on inflation data — especially this week's highly anticipated jobs report. No portfolio companies report earnings next week. However, with mortgage rates bouncing back in recent weeks, it remains to be seen if the strong monthly report will see any follow up. 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.

☆ Argentina, IMF discussing export-linked reserve targets -govt source
▼ + stars: | 2023-03-03 | by ( Jorge Otaola | ) www.reuters.com time to read: +2 min

BUENOS AIRES, March 3 (Reuters) - Argentina and the International Monetary Fund (IMF) are zeroing in on an agreement for more flexible currency reserves targets this year dependant on the South American country's exports, a government source told Reuters on Friday. Argentina and the IMF established targets that included rebuilding reserves in a $44 billion debt deal struck last year, which replaced a program that failed to keep the country from slipping into economic crisis. However, the impact of the recent drought and high prices linked to the war in Ukraine, have led to talks over easing the reserves targets for this year. Argentine officials went to Washington last week for IMF talks over the latest review of the country's extended fund facility program for the fourth quarter of 2022. Approval is needed to unlock a $5.3 billion disbursement, key to make repayments to the IMF for a similar amount in March-April.

GMO wheat has never been grown for commercial purposes due to consumer fears about allergens or toxicities in the staple crop used worldwide for bread, pasta and pastries. The association was against adopting GMO wheat previously, but changed its stance after a survey it commissioned showed more than 70% of Brazilians would not mind consuming products containing it. Bioceres has said its GMO wheat "showed higher yields than conventional varieties across all environments, with an average 43% yield improvement in targeted environments." In November 2021, Brazil became the first country in the world to allow imports of flour made with GM wheat. "The approval for planting, imports and commercialization of GMO wheat resolves this issue, bringing peace of mind to different market actors," Abitrigo said in a statement.

☆ Top 10 things the Club is watching in the stock market Thursday: Bond yields pop, Salesforce supports Dow
▼ + stars: | 2023-03-02 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

The Dow Jones Industrial Average looks like it's going to get spared because of the surge in Dow stock Salesforce (CRM). Snowflake (SNOW) drops more than 9.5% early Thursday, the morning after lowering its full-year product revenue guidance to 40% growth year over year from 47%. Dollar Tree (DLTR) downgraded to neutral at JPMorgan after the quarter; price target trimmed to $150 per share from $160. Canaccord downgrades to hold from buy; big catch-up price target cut to $9 per share from $25. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ Tesla shares down 8% after Investor Day despite positive analyst sentiment
▼ + stars: | 2023-03-02 | by ( Rohan Goswami | ) www.cnbc.com time to read: +1 min

Tesla shares continued sliding Thursday morning, a movement that began the prior day during Tesla's Investor Day event, which provided investors with a long-term vision but lacked detail on new products or services. The electric-vehicle manufacturer's stock fell over 8% in the pre-market, despite positive analyst reaction to CEO Elon Musk's presentation and to Tesla's overall outlook. Jonas has an overweight rating and set a $220 price target for the stock. Goldman Sachs maintained a buy rating and a $200 price target, with analyst Mark Delaney writing Thursday that "the event reinforced our positive view of the company's long-term competitive positioning." Tesla shares are up over 80% year-to-date but remain well off of the 2021 high, which propelled the stock price above $400.

☆ Top auto analyst Jonas stays bullish Tesla, says investor day showed competition can't keep up
▼ + stars: | 2023-03-02 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

Morgan Stanley's Adam Jonas remains bullish on Tesla even as shares drop following the electric vehicle maker's latest investor day. Tesla shares dropped more than 5% in Thursday premarket trading after the electric car maker's investor day, which was long on vision but short on specifics on any new Tesla products. Regardless, Jonas reiterated an overweight rating on Tesla, saying the Elon Musk-led company will fend off competitors as a pricing war heats up in the electric vehicle sector. He said the vertical integration in Tesla's Austin facility allows Tesla to "iterate far faster and with less waste" than its peers. Tesla shares surged 64% in 2023, after falling 65% last year.

California is enduring more severe winter weather as storms continue to unleash unusual snowfall and strong winds across the state, damaging highways and roads and trapping some residents in their homes. Gavin Newsom on Wednesday evening declared a state of emergency in 13 counties affected by the storms. Disaster response and relief will be provided to the counties of Amador, Kern, Los Angeles, Madera, Mariposa, Mono, Nevada, San Bernardino, San Luis Obispo, Santa Barbara, Sierra, Sonoma and Tulare. The state's emergency agency and private weather forecasters in January said that damage from weeks of storms and flooding in California could surpass $1 billion. In the San Bernardino Mountains, snowfall blocked roads and stranded residents in their homes as crews worked urgently to clear the roads.

Gondolas are docked along a canal with a low water level during a low tide in Venice, Italy, Saturday, Feb. 18, 2023. Some of Venice's smaller canals are running dry amid unusually low tides and a lack of rainfall, making it difficult for gondolas, water taxis and ambulance boats to navigate the Italian city. Dwindling water levels in the canals are linked to a combination of issues, including a prolonged spell of low tides and a lingering high-pressure weather system over much of Italy. The situation in Venice, which is historically known for its regular flooding, comes after weeks of dry winter conditions in Italy that have prompted fears of another drought emergency after the dry summer last year. Take a look at some photos from the past couple weeks of docked gondolas in Venice's canals:

☆ 'Pretty bearish on Tesla': Market pro says price cuts will hit the EV giant's share price
▼ + stars: | 2023-02-28 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

Tesla shares are unlikely to make a comeback over the medium term partly due to the price cuts the electric automaker announced late last year, according to tech investor Mark Hawtin. "I'm pretty bearish on Tesla," said Hawtin, investment director at Zurich-based GAM Investments. This, in turn, could lead to lower demand for Tesla's products, impacting margins and profitability, according to Hawtin. "I think we will see lower demand at a time when they're ramping up factories around the world," he added. According to Jonas, the stock could jump on any new plans from the automaker for the "mass adoption of EVs at far lower price points" on its Mar.

Discussions include the impact of the drought on 2023 goals for net reserves, said an Argentina economy ministry adviser who asked not to be named because the talks were ongoing. Officials for the Economy Ministry declined to comment. The discussions to change the central bank net reserves targets for this year are pre-emptive, as the country did meet its end-December 2022 net reserves targets, another source added. Net reserves today stand at around $4.4 billion, according to calculations from Buenos Aires-based brokerage firm PPI Inversiones. Under the latest review, Argentina had been set the target of net reserves to increase by $5.5 billion at the end of March and $9.8 billion at the end of the year.

Editor's note: The following article contains graphic photos of dead bodies. In the predawn hours of Feb. 24, the long-feared Russian invasion of Ukraine began. The now yearlong war has become the largest air, sea and ground assault in Europe since World War II. More than 8 million people have left the war-weary country since the invasion, in what has become the greatest exodus of refugees that Europe has witnessed since World War II. Over the past year, Western weapons have poured into Ukraine in one of the world's largest arms transfers, and allies have imposed rounds of coordinated international sanctions against Russia.

☆ Sen. John Fetterman will likely be in hospital for a few weeks for clinical depression treatment
▼ + stars: | 2023-02-17 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +3 min

Senator John Fetterman (D-PA), leaves a classified briefing for U.S. Sen. John Fetterman, D-Pa., will receive inpatient hospital care for "a few weeks" as he seeks treatment for clinical depression, a senior aide to the senator told NBC News. Fetterman suffered a life-threatening stroke on the campaign trail last year, and he has continued to experience health issues in office. Fetterman's return to the Senate will not be a matter of days, the senior aide told NBC on Thursday night. Fetterman's aide told NBC that the senator has struggled to adjust to his current situation, leading him to seek treatment.

☆ Sen. John Fetterman Is Hospitalized for Depression
▼ + stars: | 2023-02-16 | by ( Natalie Andrews | ) www.wsj.com time to read: 1 min

Sen. John Fetterman (D., Pa.) at the Capitol building earlier this week. WASHINGTON—Pennsylvania Sen. John Fetterman checked himself into Walter Reed National Military Medical Center to receive treatment for clinical depression, the second hospitalization for the freshman senator this month. The senator’s chief of staff, Adam Jentleson, said Thursday that the Democratic lawmaker had experienced severe depression in recent weeks. Mr. Jentleson said that on Monday the attending physician for Congress, Dr. Brian P. Monahan, recommended inpatient treatment. Mr. Fetterman checked himself into Walter Reed on Wednesday.

☆ U.S. Senator Fetterman in hospital for clinical depression -statement
▼ + stars: | 2023-02-16 | by ( ) www.reuters.com time to read: +1 min

WASHINGTON, Feb 16 (Reuters) - U.S. Senator John Fetterman checked himself into Walter Reed medical center on Wednesday to receive treatment for severe clinical depression, his office said. The 53-year-old Pennsylvania Democrat, who suffered a stroke last year, was evaluated by the attending physician for Congress on Monday, who recommended inpatient care, his chief of staff, Adam Jentleson, said in a statement on Thursday. "While John has experienced depression off and on throughout his life, it only became severe in recent weeks," Jentleson said. Reporting by Doina Chiacu and Kanishka Singh; editing by Rami Ayyub and Eric BeechOur Standards: The Thomson Reuters Trust Principles.

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