DIRS.INFO The most relevant business & tech news

☆ Baby boomers are driving the trend of Americans staying in their homes for twice as long as they did 2 decades ago
▼ + stars: | 2024-02-14 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +4 min

Americans are staying in their homes twice as long as they used to, a trend largely driven by boomers. Around 40% of baby boomers have stayed in their homes for at least 20 years, per a Redfin analysis. That can be chalked up to the unaffordable housing market, with mortgage rates and prices both elevated. The shift is largely driven by baby boomers, the real estate listing site said, who are staying put as mortgage rates and home prices remain elevated. Most (54%) baby boomers who own homes own them free and clear, with no outstanding mortgage," Redfin said in a note on Wednesday.

Persons: —, That's, boomers, Gen Zers, Redfin, it'll Organizations: Service, Federal Reserve

☆ Colorado ballot: Trump lawyer calls Jan. 6 a shameful 'riot' in Supreme Court exchange over the definition of 'insurrection'
▼ + stars: | 2024-02-08 | by ( Natalie Musumeci | Brent D. Griffiths | ) www.businessinsider.com time to read: +3 min

Donald Trump's lawyer argued the Capitol attack was a "riot," not an "insurrection," before the US Supreme Court. Most legal experts anticipate the conservative-majority Supreme Court to side with Trump. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . What we said in our opening brief was President Trump did not engage in any act that can plausibly be characterized as an insurrection." Most legal experts on constitutional law say the US Supreme Court is likely to side with Trump.

Persons: Donald Trump's, —, Donald Trump, Ketanji Brown Jackson, Jonathan Mitchell, Mitchell, Brown, Trump Organizations: Capitol, Trump, Service, Supreme Court, Colorado Supreme, Colorado Locations: United States, Colorado

☆ Beijing refuses to admit its economy has broken down — and that's one reason officials are failing at fixing it, researchers say
▼ + stars: | 2024-02-06 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

China's economy has struggled to regain post-pandemic traction. But Beijing hasn't conceded its economy is in trouble, which could be holding it back from fixing structural issues, says the Rhodium Group. Rhodium Group's researchers aren't quite sure about the rosy narrative of China's economy, calling it a "politicized picture of economic activity." After all, China's economy struggled to regain traction after a brief spurt post-pandemic, disappointing investors. By the second half of the year, confidence had broken down entirely," wrote the Rhodium Group researchers.

Persons: underscoring, Beijing hasn't, —, Daniel H, Rosen, Rachel Lietzow, Lietzow, Xi Jinping, haven't Organizations: Stock, Beijing, Service, White, National Economic Council, National Security Council Locations: China, New York, Beijing

☆ Stock market in a 'very dangerous' position as jobs and wages run hot, fund manager says
▼ + stars: | 2024-02-05 | by ( Elliot Smith | ) www.cnbc.com time to read: +2 min

A trader reacts as a screen displays the Fed rate announcement on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., January 31, 2024. The U.S. stock market is in a "very dangerous" spot as persistently strong jobs numbers and wage growth suggest the Federal Reserve's interest rate hikes have not had the desired effect, according to Cole Smead, CEO of Smead Capital Management. The figures came after Fed Chair Jerome Powell said the central bank would likely not cut rates in March, as some market participants had anticipated. "We know the Fed has raised rates, we know that caused a banking run last spring and we know that's damaged the bond market. The Fed has not affected wage growth, which continues to outpunch inflation as we speak, and I look at the wage growth as a really good picture of inflationary pressures going forward."

Persons: Cole Smead, Nonfarm payrolls, Dow Jones, Jerome Powell, Smead, CNBC's Organizations: New York Stock Exchange, Smead Capital Management, CPI, Wage Locations: New York City, U.S

Here's why European farmers are taking their anger to the streets:THE HISTORYPolitical Cartoons View All 253 ImagesWorld War II had spread hunger on a bountiful continent. When the war ended, Western European leaders knew that the way to people's hearts was through their stomachs. The vision of EU farming from early on was economy of scale — bigger farms, bigger holdings, setting standard rules across borders. “European farmers have found themselves under increasing pressure from many sides,” European Commission Vice President Maroš Šefčovič said. On Wednesday, the European Commission made two key proposals — one to shield EU farmers from cheap Ukrainian imports and one to sidestep an environmental measure.

Persons: Ursula, Ursula von der Leyen, —, von der, “ Ursula, ”, Jean, Francois Deflandre, Paolo Pepponi, It’s, it’s, Pepponi, Benoit Laqueue, Nicolas Abbeloos, “, Maroš Šefčovič, Šefčovič, Emmanuel Macron Organizations: HALLE, European, Agriculture, EU, European Commission, South Locations: Belgium, Paris, Brussels, EU, Ukraine, Kyiv, Halle, Lithuania, France, Spain, Italy, Rome, Europe, Sedan, New Zealand, Chile

☆ I went on a romantic getaway with a guy I'd just started dating. I realized he wasn't into me in the middle of the trip.
▼ + stars: | 2024-01-21 | by ( Emy Rodriguez Flores | ) www.businessinsider.com time to read: +4 min

He was the first guy I'd liked since moving to Barcelona. AdvertisementThe getaway started with a long road trip, but something was offAt what felt like the crack of dawn, I woke up and quickly got ready for our journey. During coffee, I noticed him acting a little different, but I just chalked it up to the long road trip and the time. Either way, we spoke the entire trip, and it felt like I was getting to know him better. Walking over to check it out, I felt him do the same, and at one point, I felt tension as we looked out from the terrace.

Persons: I'd, gasped, William Shakespeare Organizations: Service, Michelin Locations: Barcelona, Europe, Valladolid, Abadía

PARK CITY, Utah (AP) — Chiwetel Ejiofor had read Jeff Hobbs’ “The Short and Tragic Life of Robert Peace” years before Antoine Fuqua asked if he might consider writing and directing an adaptation. Some of the narratives chalked it up to the fact that he went back to where he came from. “I thought it was very special and very powerful,” Ejiofor told The Associated Press in a recent interview. “I never felt that it was a story about somebody who was able to play a role in different places,” Ejiofor said. Ejiofor wants audiences to have a sense of hope in Rob’s story as well as to feel enriched by knowing him.

Persons: Chiwetel Ejiofor, Jeff Hobbs ’, Robert Peace ”, Antoine Fuqua, Peace’s, “, Peace, Ejiofor, Hobbs, ” Ejiofor, hadn’t, Fuqua, Rebecca, ” Antoine Fuqua, Rob Peace ”, ”, Alex Kurtzman, Rob, Jay Will, Jay, He’s, Maisel ”, Taylor Sheridan’s “, Mary J, Blige, Jackie, Camila Cabello, Naya, Skeet, he’d, Kurtzman marveled, —, ” Kurtzman, He’d, Ksenia Sereda, you’re Organizations: Yale, St, Benedict’s Preparatory School, Associated Press, Sundance, Taylor Sheridan’s “ Tulsa Locations: CITY , Utah, East Orange , New Jersey, Newark, Malawi

☆ Gen Z and millennials are feeling a little more confident that they can buy a house
▼ + stars: | 2024-01-18 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +3 min

The latest household spending survey shows Americans are feeling the impact of cooling inflation. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . That also tracks with rising and falling mortgage rates; in early 2021, younger Americans were especially eager to snatch up mortgages as rates remained near historic lows. And as boomers downsize, and their massive housing stock becomes available, it looks like Gen Z might be the ones in line to buy them up — not millennials.

Persons: —, they're, it's, they'd, they'll, Gen Zers, Gen Xers, downsize Organizations: Service, Federal Reserve Bank of New Locations: Federal Reserve Bank of New York

☆ What is the 'Ballerina Farm controversy?' Some viewers feel an influencer's rustic homesteading videos don't add up with her family's stratospheric wealth
▼ + stars: | 2024-01-17 | by ( Geoff Weiss | ) www.businessinsider.com time to read: +4 min

As her TikTok channel Ballerina Farm grew in popularity, controversy has also stirred. When Ballerina Farm pretends their reality is reality, those people are erased." Who is Ballerina Farm? The creator @caroclaireburkeeen has critiqued Ballerina Farm in several videos starting at the beginning of this year. Ballerina Farm did not respond to Business Insider's request for comment.

Persons: Hannah Neeleman, —, Hannah Neeleman —, sourdough, David Neeleman, Neeleman, Dean Martin, Farm's homemaking, Anne Helen Peterson, Meg Conley, Daniel, it's, She's, @caroclaireburkeeen, @thecopperpony, Ballerina Organizations: Juilliard grad, Service, Azul, JetBlue, Breeze Airways, Reuters, Juilliard, Vox Locations: Kamas , Utah

☆ Consumer spending rises in December to end solid holiday season, CNBC/NRF Retail Monitor shows
▼ + stars: | 2024-01-10 | by ( Steve Liesman | ) www.cnbc.com time to read: +3 min

People carry shopping bags as they visit a department store during the holiday season in New York City. Eduardo Munoz | ReutersRetailers chalked up solid gains in the final month to wrap up the holiday season, according to the CNBC/NRF Retail Monitor for December. The Retail Monitor, which excludes autos and gas, rose 0.4% in December, down from a gain of 0.8% in November, when the holiday shopping season traditionally kicks off. For the year, the Retail Monitor increased by 3.1% and the core was up 2.4%. But last October and January surprised with stronger gains than either November or December, suggesting the full holiday shopping season could be longer than it has been traditionally.

Persons: Eduardo Munoz Organizations: Reuters Retailers, CNBC, NRF, Monitor, Retail Monitor, Retail, P Retail Locations: New York City, It's

☆ Investors Lose Legal Bid Against Exchange Over Nickel Market Blowup
▼ + stars: | 2023-11-29 | by ( Yusuf Khan | Joe Wallace | ) www.wsj.com time to read: 1 min

Traders work on the floor of the London Metal Exchange in London. Photo: simon dawson/ReutersLONDON—The London Metal Exchange chalked up a big victory over investors on Wednesday, when a court said it was within its rights to cancel trades during a high-profile blowup in the nickel market sparked by Russia’s full-scale invasion of Ukraine. The U.K. court rejected claims by activist fund Elliott Investment Management and market maker Jane Street Global Trading that the exchange had overstepped its powers by nixing $12 billion in trades in March last year. Had they won, Elliott and Jane Street planned to claim hundreds of millions of dollars in damages combined in a follow-on trial.

Persons: simon dawson, Russia’s, nixing, Elliott, Jane Street Organizations: London Metal Exchange, Reuters, Elliott Investment Management, Jane, Global Locations: London, Ukraine

☆ Huawei to move smart car operations to new joint company with Changan
▼ + stars: | 2023-11-26 | by ( ) www.reuters.com time to read: +2 min

BEIJING, Nov 26 (Reuters) - China's Huawei (HWT.UL) said on Sunday it will move core technologies and resources in its smart car unit, which has chalked up robust sales for a number of new vehicles, to a new joint company owned up to 40% by automaker Changan Auto. The new company will engage in research and development, production, sales and service of intelligent automotive systems and component solutions, Huawei said in a press release. "The new company will ... work with partners to promote innovation and leadership in smart car technology and promote the prosperity and development of the automotive industry," the release said. "The two parties will jointly support the target company to become an industry leader in automotive intelligent systems and component solutions based in China," the filing said. Huawei has repeatedly said it does not make cars on its own but only helps other automakers make better vehicles.

Persons: Yu Chengdong, Changan, Laurie Chen, Brenda Goh, Edmund Klamann Organizations: Huawei, Changan Auto, Chongqing Changan Automobile, Shenzhen Stock Exchange, Seres, Chery, Thomson Locations: BEIJING, Chongqing, China, Shenzhen, Beijing, Shanghai

☆ Opinion: Taking a trip to the firing range was something I’d never do before October 7
▼ + stars: | 2023-11-22 | by ( Opinion Amy Klein | ) edition.cnn.com time to read: +9 min

I put my clear plastic goggles back on and reenter the smoky range to learn how to shoot a gun. That’s how I found myself at Gun for Hire, a gun range and club in New Jersey, to learn how to shoot. (“I want you to get the feel for both guns,” Kedem said.) Kedem had told me I’d get used to the noise, and I did. If I came to the range a few more times, I know I could get the hang of shooting — and even excel at it.

Persons: Amy Klein, Amy Klein Mira Zaki I’ve, Maga, ”, “, Woody Allen, we’d, Hillel Norry, Beth David, ” Norry, he’s, —, Klein, Amy Klein Be, Kedem, Walther, ” Kedem, he’d, Yosi, I’ve, Ben Shapiro, Norry Organizations: CNN, US Centers for Disease Control, FBI, Hire, ”, Factory, Glock, Columbia University Locations: Israel, New York City, New Jersey, Long, Snellville , Georgia, Manhattan, Israeli American, America, Chile

☆ Goldman, JPMorgan and others crank up Nvidia price targets in wake of latest earnings
▼ + stars: | 2023-11-22 | by ( Alex Harring | ) www.cnbc.com time to read: +9 min

Several analysts hiked their price targets for the stock to show they expect greater upside ahead after the latest financials. Below, CNBC Pro compiled a list of major investment firms that raised their price targets following the Nvidia report, along with their key conclusions: Goldman Sachs Analyst Toshiya Hari raised the price target by $20 to $625. Morgan Stanley Analyst Joseph Moore added $3 to his price target, bringing it to $603. BMO Capital Markets Like JPMorgan, BMO analyst Ambrish Srivastava hiked his target price by $50 to $650. Bernstein Analyst Stacy Rasgon increased his target price by $25 to $700, equating to 40% upside over the coming year.

Persons: Jensen Huang, chalked, Goldman Sachs, Toshiya Hari, Harlan Sur, Morgan Stanley, Joseph Moore, Aaron Rakers, Vivek Arya, Timothy Arcuri, NVDA, Ambrish Srivastava, Grace Hopper, Ruben Roy, Bernstein, Stacy Rasgon, Vijay Rakesh yanked, 2024E, INTC's, William Stein, Michael Bloom Organizations: Nvidia, CNBC Pro, Center, Foundry Service, JPMorgan, NVIDIA, " Bank of America, NVDA, UBS, BMO, Markets, AMD Locations: China, Tuesday's, CY24, CY25

☆ Workers in Seoul have ditched remote working. Now the capital has the strongest office market in the world.
▼ + stars: | 2023-11-19 | by ( Polly Thompson | ) www.businessinsider.com time to read: +3 min

But the booming South Korean office market may bolster arguments that it is better for employees to head back to the office — at least for those watching the US's struggling commercial-real-estate sector. The increase in competition for office space has led to a roughly 15% rise in rental prices over the last year, Bloomberg reported. KEF found that now, fewer than 60% of big companies allow their employees to work remotely. Of the 40% of companies KEF surveyed that still allow remote work, almost two-thirds of those companies said they only allow it selectively. There has been a general shortage of office space since 2021 due to government restrictions on redevelopment and the pandemic's disruption of construction.

Persons: —, Claire Choi, Choi, KEF, it's, Goldman Sachs, Forbes, Biden Organizations: Service, Bloomberg, Global, Estate Services, Korea Enterprises Federation, Pulse Locations: Seoul, Korea

☆ A stressed out rookie lawyer says he got fired after he used ChatGPT to do his job
▼ + stars: | 2023-11-17 | by ( Aaron Mok | ) www.businessinsider.com time to read: +3 min

Zachariah Crabill, a rookie lawyer, claims he was fired after using OpenAI's ChatGPT to help him write a motion. This summer, Zachariah Crabill, a 29-year-old lawyer who previously worked at Baker Law Group, was fired after he used ChatGPT at work, he confirmed to Insider. Crabill's ChatGPT snafu isn't the first time lawyers used AI to the detriment of their employer, clients, or their jobs. In June, a New York law firm was fined $5,000 because one its lawyers used ChatGPT to write a court brief that referenced nonexistent cases and opinions. Workers in other industries, too, claim they are being let go for using AI on the job.

Persons: Zachariah Crabill, Crabill, —, ChatGPT, I've, Crabill's, Tina Sendin Organizations: Service, Baker Law Group, Colorado, Lexis, Law Week, Washington Post, Google, Baker Locations: Colorado, New York

☆ Boeing bonanza leaves rival Airbus in the dust at 2023 Dubai Airshow with three times more aircraft orders
▼ + stars: | 2023-11-16 | by ( Natasha Turak | ) www.cnbc.com time to read: +6 min

Aermacchi MB-339 trainer aircraft of the Fursan al-Emarat (UAE Knights) aerobatics team release smoke as they fly over with an Emirates Airbus A380-861 jetliner aircraft during the 2023 Dubai Airshow at Dubai World Central - Al-Maktoum International Airport in Dubai on November 13, 2023. A Boeing 777-X aircraft flies during the 2023 Dubai Airshow at Dubai World Central - Al-Maktoum International Airport in Dubai on November 13, 2023. Boeing orders 'exceeded investor expectations'Boeing's orders are already nearly three times as high as its total orders from the Dubai Airshow in 2021, and approaching the 356 orders in clinched at the 2023 Paris Airshow in June. Airbus's order figure of 86 aircraft is meanwhile significantly behind its 2023 Paris Airshow haul of 846 orders and 2021 Dubai Airshow total of 408. Prior to this week, the iconic American manufacturer hadn't enjoyed a winning performance at a Dubai Airshow since 2017.

Persons: Giuseppe Cacace, Giuseppe CACACE, GIUSEPPE CACACE, Cowen, SunExpress, EgyptAir, Tim Clark, Clark, Royce, hadn't Organizations: UAE Knights, Emirates Airbus, Maktoum International Airport, Afp, Getty Images, United Arab Emirates —, Boeing, Airbus, Royce, Emirates, Dubai, Getty, Ethiopian Airlines, Royal Jordanian, Royal Air Maroc, Air Baltic, Industry, Turkish Airlines, Turkish, Dubai Airshow, Max, RBC Capital Markets, RBC, Saudi Arabia's, Saudi Locations: Emarat, Dubai, Al, Maktoum, Getty Images DUBAI, United Arab, Emirates, East, West, Turkey, India, Saudi Arabia, AFP, widebodies, Istanbul, Paris, Riyadh Air

☆ Cramer says the Fed's efforts to squash inflation are now hurting stocks like Walmart
▼ + stars: | 2023-11-16 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +2 min

"That's the sorrow of Walmart or Chevron or Palo Alto Networks and so many other companies that are victims of their own success." Additionally, Cramer said Walmart is grappling with more cautious consumers, who've seen their budgets squeezed by inflation for well over a year. Meanwhile, shares of Palo Alto Networks slid 5.4% Thursday as its earnings report from the prior evening disappointed investors. Cramer's Charitable Trust, the portfolio used by the CNBC Investing Club, owns Palo Alto shares. While Chevron and its energy peers benefited from higher oil prices last year, Cramer said the falling oil prices are a direct consequence of a slowing economy.

Persons: CNBC's Jim Cramer, Cramer, who've Organizations: Federal, Walmart, Palo Alto Networks, Chevron, Palo Alto, Palo, Charitable Trust, CNBC, Club Locations: U.S, Palo

☆ An aggressive bullish trade betting on the rapid comeback in small-cap stocks
▼ + stars: | 2023-11-15 | by ( Jeff Kilburg | ) www.cnbc.com time to read: +6 min

Small caps have been struggling versus their peers as a rising interest rate environment has absolutely punished these growth companies. My thesis of small caps finally getting up off the mat is based upon my recent and lonely call of U.S. Treasury yields relenting. In addition, I have repositioned my model portfolios' exposure to include small caps for the remaining six trading weeks of 2023. "Bid" meaning that I am not alone in this idea of small caps finding some legs between now and the end of the year. This risk reversal is being used as an aggressive bull trade.

Persons: Russell, IWM Organizations: Nasdaq, Treasury, Fed

☆ Sinner digs deep to down Djokovic in ATP Finals cracker
▼ + stars: | 2023-11-14 | by ( ) www.reuters.com time to read: +3 min

Sinner has enjoyed his best year on Tour and now has 59 match wins in 2023, but none would have given him more pleasure than taking down six-time ATP Finals champion Djokovic. "In the second set tiebreak he played a bit better than me but I think I was brave in the big moments. Sinner made his move at 5-5 in the opening set as Djokovic briefly lost focus after leading 40-0 on serve. A double-fault at deuce was cheered by the crowd and Sinner then converted the break with two punishing backhands. When Sinner then moved 6-5 ahead on serve, Djokovic sat in his chair and conducted the jeers before a calm service hold sent an epic tussle into a shoot-out.

Persons: Novak Djokovic's, Stefanos Tsitsipas, Holger Rune, deafening, Rune, Djokovic, Hubert Hurkacz, Sinner, Carlos Alcaraz, backhands, Martyn Herman, Toby Davis Organizations: ATP, Group, Wimbledon, Amazon, Thomson Locations: TURIN

If both are calculated in dollar terms, however, Chinese stocks have, by some measures, carried an advantage over the very long term. Many observers say demographics, deleveraging, and de-risking - U.S. firms on-shoring, new supply chains, and trade tensions – will be a considerable long-term drag on Chinese growth. Little wonder, perhaps, that Chinese stocks are so cheap. Reuters Image Acquire Licensing RightsBased on 12-month forward price/earnings multiples, U.S. stocks are twice as expensive as Chinese stocks. For the past 10 years Chinese stocks have been substantially cheaper than U.S. stocks, and most of the decade before that they were usually cheaper too.

Persons: Brendan McDermid, Goldman Sachs, Morgan Stanley, Torsten Slok, Janet Yellen, Lifeng, Colin Graham, Graham, Jamie McGeever, Andrea Ricci Organizations: New York Stock Exchange, REUTERS, Rights, Shanghai, CSI, Reuters, Apollo Global Management, U.S, Treasury, Thomson Locations: New York City, U.S, Rights ORLANDO , Florida, China, Mexico

☆ The US minimum wage has been $7.25 since 2009. What that means for the economy
▼ + stars: | 2023-11-11 | by ( Samantha Delouya | ) edition.cnn.com time to read: +7 min

Efforts to raise federal minimum pay have fallen flatHowever, despite numerous efforts, raising the federal minimum wage above $7.25 an hour has been unsuccessful. Lagging the rising cost of livingIn many ways, the federal minimum wage seems like a relic of the past. Recent wage gains could be lostThe actual economic impact of a federal minimum wage increase is heavily debated. “The new conventional wisdom is that at least a moderate minimum wage increase has minimal effects on employment,” Reich told CNN. “But this new paper says that a really big minimum wage increase actually increases employment.”

Persons: Ken Rose, he’s, ” Rose, Sandy, ”, Michael Reich, Biden’s, ” Yannet Lathrop, Lathrop, Alex Wong, hasn’t, Rose, “, ” Ken Rose, Ken Rose Joe Bishop, ” Bishop, Reich, ” Reich Organizations: Los Angeles CNN, Tiburon Fine, CNN, Bureau of Labor Statistics, Economic, Institute, Dynamics, University of California, Democrats, National Employment, U.S, Capitol, United Auto Workers, United, Walmart, Costco, Starbucks, Tiburon, Congressional Locations: Sandy , Utah, American, Berkeley, Washington ,, United States, Amazon, Utah, Louisville , Kentucky, Louisville, Jefferson County , Kentucky

In 2019, Andy Beshear eked out an upset win for governor of Kentucky, a startling victory for a Democrat in a state that Donald Trump had won in 2016 by around 30 percentage points. But with his re-election on Tuesday, Mr. Beshear, 45, showed that he was more than just lucky. He again won the cities of Louisville and Lexington handily, but also won small rural counties across the state that he had lost four years earlier. The victory followed an aggressive and well-funded campaign that could serve as a blueprint for Democrats across the country, who for years have seen rural states like Kentucky slipping ever further out of reach. It also could position Mr. Beshear as a candidate for national office in 2028 and beyond.

Persons: Andy Beshear eked, Donald Trump, Matt Bevin, Beshear, Daniel Cameron Organizations: Democrat, Republican, Lexington Locations: Kentucky, Louisville

☆ Central banks look to have hit peak rates. Here's how markets think they'll come down
▼ + stars: | 2023-11-07 | by ( Elliot Smith | ) www.cnbc.com time to read: +6 min

The U.S. Federal Reserve, European Central Bank and the Bank of England dramatically hiked rates over the last 18 months in a bid to tame runaway inflation. Reid also highlighted that this is the seventh time this cycle that markets have notably reacted on dovish speculation. "Clearly rates aren't going to keep going up forever, but on the previous 6 occasions we saw hopes for near-term rate cuts dashed every time. In clear, waiting for inflation to reach 2% before cutting rates would be 'overkill,'" Moëc said. However, minutes from last week's meeting reiterated the Monetary Policy Committee's expectations that rates will need to stay higher for longer, with U.K. CPI holding steady at 6.7% in September.

Persons: Jerome Powell, Brendan McDermid, nonfarm payrolls, DBRS Morningstar, Jim Reid chalked, Reid, we've, Gilles Moëc, Moëc, Christine Lagarde, Yannis Stournaras Organizations: Federal Reserve, New York Stock Exchange, U.S . Federal Reserve, European Central Bank, Bank of, Fed, PCE, DBRS, Deutsche Bank, ECB, AXA, National Bank of Greece, of, Bank of England, CPI, BNP Locations: New York City, Bank of England, U.S, Europe

☆ November's stock gains look like a bear market rally as yields fall, and further upside is unlikely, Morgan Stanley's top strategist says
▼ + stars: | 2023-11-06 | by ( Phil Rosen | ) www.businessinsider.com time to read: +4 min

Morgan Stanley's top strategist says stock gains at the start of November are just a bear market rally. "We think last week's rally in stocks was mainly a function of the fall in back-end Treasury yields." AdvertisementAdvertisementMajor stock indexes are coming off their strongest weekly performances of the year, but to Mike Wilson, Morgan Stanley's top stock strategist, further upside is likely limited and the fresh gains to start November are merely a bear market rally. Instead, the market was simply reacting to the plunge in bond yields after the benchmark 10-year government bond hit the highest level since 2007. DataTrek Research noted Monday that the S&P 500 could return to its July high of 4,589 if bond yields drop below 4%.

Persons: Morgan Stanley's, —, Mike Wilson, Morgan, Wilson, Morgan Stanley, Morgan Stanley Morgan Stanley chalked Organizations: Service, Federal Reserve, Bank of America

Search resuls for: "chalked"

25 mentions found