Top related persons:
Top related locs:
Top related orgs:

Search resuls for: "tanking"


25 mentions found


Polestar agreed to let Hertz out of a deal to buy its cars for now. Stipulations in the agreement protect Polestar's resale values. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementOne piece of a new agreement to pause sales to Hertz by EV-maker Polestar hints at a larger concern in the electric-car market. As Hertz sheds a third of its electric-car lineup , executives are beginning to worry the deluge of used EVs could tank resale values.
Persons: Polestar, Hertz, , Thomas Ingenlath Organizations: Service, Hertz, EV, Financial Times
Washington, DC CNN —The Federal Reserve is widely expected to hold interest rates steady Wednesday for the fourth consecutive meeting, leaving them at a 23-year high as policymakers likely discuss the timing of rate cuts. That’s because, if inflation drifts lower but interest rates remain elevated, it causes “real” interest rates to rise, unnecessarily squeezing the economy and risking job losses. A rapidly weakening economy threatening mass job losses is an obvious reason to cut rates, which most economists aren’t currently forecasting. But another concern that has gained some traction is the rise of inflation-adjusted interest rates, which is an argument for rate cuts. The Fed is set to announce its latest policy decision at 2 pm ET on Wednesday, followed by a press conference from Chair Powell at 2:30 pm ET.
Persons: Jerome Powell’s, , ” Sarah House, , , Christopher Waller, it’s, Mary Daly, they’re, aren’t, Austan Goolsbee, Subadra Rajappa, Générale, Powell Organizations: DC CNN, Federal Reserve, Fed, CNN, ” San Francisco Fed, Fox Business, Chicago Fed, CNBC, PCE, Labor Department Locations: Washington, Wells, ” San
This week's question: CNBC guests often say six Fed cuts are priced into the 2024 market. – Mike H. When you hear about the number of Federal Reserve interest rate cuts being priced into the market, the data comes from the CME FedWatch tool . The overnight fed funds bank lending rate is the rate that everyone is referring to when talking about Fed rate moves. You may have heard us say things like, the market is trading on Fed rate cuts. This week's question: CNBC guests often say six Fed cuts are priced into the 2024 market.
Persons: Jim Cramer, Mike H, Jerome Powell, Jim Organizations: Federal, CME, That's, CNBC
Local officials have previously reported starvation deaths in their districts, but Ethiopia’s federal government has insisted these reports are “completely wrong”. Only a small fraction of needy people in Tigray are receiving food aid, according to an aid memo seen by The Associated Press, more than one month after aid agencies resumed deliveries of grain following a lengthy pause over theft. Just 14% of 3.2 million people targeted for food aid by humanitarian agencies in Tigray this month had received it by Jan. 21, according to the memo by the Tigray Food Cluster, a group of aid agencies co-chaired by the U.N.’s World Food Program and Ethiopian officials. Aid agencies are also struggling with a lack of funds. A third aid worker said the food aid pause and the slow resumption meant some people in Tigray have not received food aid for over a year.
Persons: Jan, , , Ethiopia’s, Getachew Reda Organizations: Associated Press, Food Program, Ethiopian, AP, WFP, Children's Locations: KAMPALA, Uganda, Tigray, Amhara, U.S, Ethiopia, Ethiopia’s Afar, Oromia
House Speaker Mike Johnson is overseeing one of the smallest House majorities in history as Congress confronts upcoming battles over government funding and contentious fights over immigration and impeachment. The razor-thin majority presents an enormous challenge for the speaker, leaving him with almost no room for error as he navigates demands from competing wings of his party. House Majority Leader Steve Scalise’s office has said that he will work remotely until returning to Washington in February as he recovers from a stem cell transplant. House Republicans were nearly evenly divided in the vote, a sign of the deep rift within the conference. The fate of these politically vulnerable members will be key to whether the GOP can hold onto its majority.
Persons: Mike Johnson, Bill Johnson, Kevin McCarthy’s, George Santos, Brian Higgins, Santos, Steve Scalise’s, Hal Rogers of, Johnson, McCarthy, Chuck Schumer, Joe Biden Organizations: Republicans, Ohio GOP, Youngstown State University, GOP Rep, Democratic, CNN, Republican, House Republican, House Republicans, GOP Locations: George Santos of New York, York, Washington, Hal Rogers of Kentucky
Trump said he'd take the blame for the potential collapse of a bipartisan border deal. AdvertisementFormer President Donald Trump on Saturday said he was willing to take responsibility for the potential demise of a bipartisan border deal that's being ironed out in the Senate. AdvertisementTrump in a Truth Social post on Saturday wrote: "A BAD BORDER DEAL IS FAR WORSE THAN NO BORDER DEAL!" House Speaker Mike Johnson of Louisiana on Friday wrote a letter describing the proposed border bill as "dead on arrival" in the lower chamber. Last week, the US Supreme Court voted 5-4 in backing the federal government's power to remove concertina wire along parts of the US-Mexico border.
Persons: Trump, he'd, Biden, , Donald Trump, Joe Biden, America, Greg Abbott, Ukraine —, Mike Johnson of, Beto O'Rourke, O'Rourke, Abbott Organizations: Service, Biden, Republican, Trump, Ukraine, Democratic, GOP, Texas Democratic, CNN, Republican Party, Senate Locations: Las Vegas, Mexico, Texas, Chicago, Los Angeles , New York, Washington, Mike Johnson of Louisiana
The U.S. economy ended 2023 with a bang, as growth in gross domestic product in the fourth quarter came in at 3.3%, easily dashing expectations on strong consumer spending and exports. Economists had predicted a gain of 2% for the quarter following the third quarter’s 4.9% increase, driven by strong consumer spending, rebuilding of inventories and a resilient labor market. Although 2023 outperformed, defying predictions of a recession even as the Federal Reserve raised interest rates to a level not seen in four decades, most economists are forecasting growth slowing this year. The strong fourth quarter number is likely to cast doubt on whether the Fed will begin cutting interest rates as early as the market thinks. “Consumers will likely remain cautious with their spending as they confront ‘cost fatigue’ and less vibrant labor market conditions.
Persons: , Steve Rick, Gregory Daco, Daco, Jerome Powell, , ” Daco Organizations: Federal Reserve, TruStage, , Fed, Labor Department Locations: U.S, Ukraine
download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementFor a few years, Nicole was living the California dream. Literally, we can't afford a $1,500 a month increase in rent," Nicole, who works in advocacy, said. Median gross rent in Richmond was $1,192 in 2022, per the Census Bureau's American Community Survey, compared to $2,251 in Orange County, California. "Groceries are more expensive, gas is more expensive, rent is more expensive.
Persons: Nicole, hasn't, , they'd, homebuyers, Noah Sheidlower, she'd, she's, it's, they'll Organizations: Service, Terner Center, Housing Innovation, UC Berkeley, Survey Locations: California, Virginia, San Diego, Orange County, Florida , Arizona, Texas, Florida, Richmond , Virginia, Richmond, Orange County , California
Johnson is peddling the stop-gap spending measure by emphasizing how the package buys time for Congress to complete its 12 appropriations bills. The Best Political Cartoons on Congress View All 127 Images“Everyone understands the reality of where we are,” Johnson said at a press conference Wednesday morning. Johnson cut a deal with Schumer to back a top-line funding total key to preventing a government shutdown. “A small group of hard-right extremists seem dead set on making a shutdown a reality,” Schumer said Tuesday. “House and Senate negotiators worked hard to reach an agreement on top-line funding levels for the current fiscal year.
Persons: Mike Johnson’s, Johnson, Chuck Schumer –, ” Johnson, “ We’re, , Schumer, tanking, ” Schumer, , Mitch McConnell bristled, , McConnell, it’s, Bill Johnson of, Hakeem Jeffries, Joe Biden, Biden, We’re Organizations: House Republicans, Democratic, GOP, Caucus, Tax, Republican, Freedom Caucus, Senate, White Locations: Bill Johnson of Ohio, Ukraine, Israel, Taiwan, Mexico
That's a far-cry from where many Wall Street pros thought stocks would end the year. Others, like analysts at Bank of America, BMO, and Deutsche Bank believe the market could roar to new all-time highs . Rather than try to guess where the market is heading next, investors would be better off finding high-quality stocks to invest in for the long run. Thankfully, Morningstar's Margaret Giles recently compiled a list of the stocks to buy now, drawn from analysts' larger collection of the best companies to own. These stocks have "predictable cash flows and are run by management teams that have a history of making smart capital-allocation decisions," she wrote.
Persons: Taylor Swift, JP Morgan, Morningstar's Margaret Giles Organizations: Business, JP, Bank of America, BMO, Deutsche Bank
Elon Musk said on Wednesday that advertisers who are abandoning X can go "fuck" themselves. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Musk didn't directly answer, but said "If the company fails because of advertiser boycott, it will fail … and it will be gone." AdvertisementMusk didn't answer the other key question he was asked: "Is there any part of you that says, 'Maybe I should sell [X] or give it away?" What we don't know — and Musk wouldn't really answer — is how this final stage could play out.
Persons: Elon Musk, , Musk, Andrew Ross Sorkin, Linda Yaccarino, Yaccarino, @elonmusk, Tesla, there's, I'm Organizations: Twitter, Service
Nvidia CEO Jensen Huang said he wakes up worried his company might fail. Huang said the feeling he got from Nvidia nearly going out of business years ago has stuck with him. The fear of his chip empire tanking, Huang admitted, is a feeling he grapples with every morning when he wakes up. "I think during adversity you're more focused," Huang said. "I like going home and telling my wife I saved the company today," Huang said during the DealBook summit.
Persons: Jensen Huang, Huang, , Andrew Sorkin, Sorkin Organizations: Nvidia, Service, New York Times DealBook, Yorker Locations: Nvidia's, Taiwan
Sauerbronn, a director at Brandes Investment Partners, has co-managed the Brandes Small Cap Value Fund for the last five years. Sauerbronn did note that ideally, he'd hold stocks for longer, and in fact there are some stocks in the fund that have been there for 10 years or more. 3 favorite stocks right nowAmong the holdings in Sauerbronn's fund, industrials stand head and shoulders above the rest. But Sauerbronn has focused on positioning the fund defensively, homing in on stocks with strong balance sheets in an industry that has grown used to easy money. As the name implies, the company manufactures composite materials for companies across the aerospace market, from drones to jet engines.
Persons: Luiz Sauerbronn, Sauerbronn, Patience, It's, Barber Nichols, tanking, Max Organizations: Brandes Investment Partners, Value Fund, Business, Graham Corp, US Navy, Navy, Aerospace, Park Aerospace, Airbus, Boeing, Moog Inc Locations:
The benchmark S&P 500 will climb 12% to hit a new all-time high of 5,100, strategists said. Much of Wall Street has turned bullish on the index, which has defied gloomy predictions to rack up stellar gains this year. AdvertisementDeutsche Bank has become the latest big name on Wall Street to issue a bullish stock-market forecast for 2024, with analysts predicting the S&P 500 will soar to a fresh all-time high next year. AdvertisementWall Street bullishnessThere's clearly an optimistic atmosphere amongst stock-pickers right now, with Deutsche Bank far from the only big name on Wall Street to predict the S&P 500 could climb to record highs. Burnishing Chadha's credentials is the fact that he was one of the only Wall Street strategists who called this year's surprise stock-market rally.
Persons: , Goldman Sachs, , Binky Chadha, Tesla, Société Générale, Brian Belski, Burnishing Organizations: Deutsche Bank, Service, Bank of America, RBC Capital Markets, BMO Capital, Deutsche, Business, Big Tech, Apple, Microsoft, Google, Nvidia, Facebook, Nasdaq, Dow Jones
Goldman Sachs thinks Maxeon Solar Technologies will see eye-popping gains despite the company's recent earnings disappointment. Analyst Brian Lee maintained his buy rating on the Singapore-based solar panel maker. He did lower his 12-month price target on the stock by $3 to $18, but that still implies shares can go up 195% from Wednesday's close. Shares of the solar company plunged 14% on Thursday, reaching a 52-week low, after Maxeon reported third-quarter results that missed analysts' expectations by a wide margin. But a positive catalyst for the stock going forward, Lee noted, is that Maxeon announced a settlement on Wednesday with residential solar technology provider SunPower .
Persons: Goldman Sachs, Brian Lee, Maxeon, Lee, SunPower Organizations: Technologies Locations: Singapore, Wednesday's, U.S
US banks are sitting on an estimated $650 billion in unrealized losses on their bond holdings. Here's why banks have flexibility in making sure that their $650 billion balance sheet bomb is defused. The bond crash culminated in an estimated $650 billion in unrealized losses held by banks, according to Moody's. How banks can defuse their balance sheet bombDespite the massive unrealized losses, banks are looking at three scenarios that could help ensure losses aren't realized. First, banks could simply hold onto their low-yielding debt until it matures and not realize any losses at all.
Persons: , aren't, Louis Navellier, Geetu Sharma, Sharma, Banks Organizations: Service, Fed, Silicon Valley Bank, First Republic Bank, Signature Bank, Consumers, of America, Treasury, Federal Reserve, Banks, P Bank, P Regional Bank ETF
AdvertisementAdvertisementArgentina is getting ready to choose its next president — and the country's economy is a mess. Triple-digit inflationSoaring prices are perhaps the best-known problem plaguing Argentina's economy, but far from the only issue that policymakers are battling. The currency is managed by Argentina's central bank. If, or more likely when, Argentina's economy slips into another recession, it'll be the sixth such occurrence in the past decade. His proposed policies include abolishing Argentina's central bank altogether and adopting the dollar, which economists have warned could end up pushing the country even closer to a default.
Persons: , Sergio Massa, Javier Milei, Manuel Cortina, Lucila Bonilla, Bonilla, they've, Kimberley Sperrfechter, There's, there's, Massa, Cristina Sille, Donald Trump, Bolsonaro, they'll, Sperrfechter Organizations: Service, Union, Homeland, Triple, Consumer, National Institute of Statistics, Argentinian, Oxford Economics, The Central Bank of, International Monetary Fund, Reuters, World Bank, FX, Central Bank of, Peronist Locations: Argentina, American, Buenos Aires, Central Bank of Argentina
Jeffrey Sherman touted bonds over stocks and flagged signs of weakness in the US economy. DoubleLine's deputy chief investor told Insider the Federal Reserve is an "enemy to everything." NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementAdvertisementBonds are more enticing than stocks, the US economy is showing cracks, and the Federal Reserve is an enemy to investors, according to Jeffrey Sherman. He warned investors against trusting the central bank to balance inflation and growth while also shoring up asset prices.
Persons: Jeffrey Sherman, Sherman, , Jeffrey Gundlach's, TCW, scrambles Organizations: Reserve, Service, Federal Reserve, Bank, Fed
GOP Rep. Mike Collins tried to cut all funding for Vice President Harris's office. AdvertisementAdvertisementHouse Republicans just tried — and failed — to defund the office of Vice President Kamala Harris. "None of the funds made available by this Act may be used for the salary or expenses of any officer or employee of the Office of the Vice President," read Collins' amendment. I'm sure you'll be shocked, but I just had to debate a Republican on the House floor who was defending funding the Office of the Vice President. AdvertisementAdvertisementBelow are the 106 Republicans who voted for Collins' amendment.
Persons: Mike Collins, Harris's, , Kamala Harris, Collins, Harris, you'll, shouldn't, Joe Biden, Pete Buttigieg, Marjorie Taylor Greene, Lloyd Austin's Organizations: Service, Republican, Financial Services, General Government, Democratic, House Republicans Locations: Georgia
CNN —The 2023-24 NBA season may only have gotten underway last week, but this year, teams won’t need to wait until the NBA Finals in June to have the chance of lifting some silverware. How to watchIn the US, 14 group games and all seven knockout-round games will be nationally televised on ESPN or TNT, while international viewers will be able to watch on NBA League Pass. FormatThe inaugural In-Season Tournament begins on November 3 and ends with the championship game on December 7 – and every game except the title game will count towards regular season standings. Will LeBron James add an In-Season Tournament trophy to his four NBA titles? The NBA will, of course, be hoping for similar success for the In-Season tournament.
Persons: LeBron James, Mark J, Terrill Organizations: CNN, NBA, ESPN, TNT, Western, Memphis Grizzlies, Phoenix Suns, LA Lakers, Utah Jazz, Portland Trail Blazers, Denver Nuggets, LA Clippers, New Orleans Pelicans, Dallas Mavericks, Houston Rockets, Golden State Warriors, Minnesota Timberwolves, Oklahoma City Thunder, San Antonio Spurs Eastern Conference, Philadelphia 76ers, Cleveland Cavaliers, Atlanta Hawks, Indiana Pacers, Detroit Pistons Group, Milwaukee, Milwaukee Bucks , New York Knicks, Miami Heat, Washington Wizards, Charlotte Hornets, Boston Celtics, Brooklyn Nets, Toronto Raptors, Chicago Bulls, Orlando Magic Every, Mobile, Disney Locations: Las Vegas, Sacramento, Milwaukee Bucks ,, Florida
Now it falls to Mr. Johnson, a fourth-term congressman who has never served in a top leadership position before, to try to keep his anti-spending party united and the government open — all in a matter of weeks. The previous speaker, Kevin McCarthy, found it impossible to corral recalcitrant Republicans to pass legislation to keep federal funding flowing and prevent a politically and economically damaging shutdown. Mr. Johnson was among a majority of Republicans who opposed that stopgap spending bill. In the days leading up to the government shutdown deadline in September, Mr. McCarthy put forward a stopgap measure that severely slashed spending. Twenty-one conservative lawmakers opposed it, tanking the bill and declaring that they would not vote for a temporary funding measure under any circumstances.
Persons: Mike Johnson, Biden, Johnson, Kevin McCarthy, McCarthy Organizations: House Republican, Republicans Locations: Israel, Ukraine
The stress of the scheme left a key executive 'suicidal for days'Nishad Singh testified against his former boss in court. Jane Rosenberg/ReutersNishad Singh, the head engineer at FTX, testified against Bankman-Fried and spoke to the intense pressure of the scheme. As customers began to withdraw their deposits, FTX didn't have enough liquid cash to actually give them their funds. Instead of working together to solve the issue, executives blamed each other, Singh testified. "In response, Sam said something like, 'We were bulletproof last year, but we're not bulletproof this year,'" Yedidia testified.
Persons: Sam Bankman, , Fried, Caroline Ellison, Gary Wang, Nashad Singh, SBF, Ellison, he'd, Nishad Singh, Jane Rosenberg, Reuters Nishad Singh, Singh, I'd, Wang, FTX's, Bankman, Sam, Adam Yedidia, Yedidia, FTX didn't, FTX, Michael M, Ellison Yedidia, Caroline, Getty, Alameda's, — Ellison, Christian Drappi, Drappi, Alameda — Ellison Organizations: Service, Prosecutors, Alameda Research, Street, Reuters, Bankman, NEW, Manhattan Federal Court, Getty, FTX, MIT, Alameda Locations: Manhattan, Brooklyn, FTX, Bankman, Alameda, United States, Bahamas, New York City, China, Alameda's Hong Kong
If Amazon, why not Walmart?
  + stars: | 2023-10-25 | by ( Jennifer Saba | ) www.reuters.com   time to read: +3 min
Shopping habits vary widely, however, and the company’s pricing strategies are commonly used, including at Walmart (WMT.N). According to the complaint, if Amazon finds a cheaper product elsewhere, it punishes the seller by removing merchandise from the “buy box,” effectively tanking sales. Thus, the argument goes, Amazon prevents rivals from competing on price. Walmart, which bought Jet.com in 2016 for $3 billion, is also just as discerning when it comes to online pricing. The agency accuses Amazon of stifling competition on price, product selection and quality, and preventing rivals from attracting a critical mass of shoppers and sellers.
Persons: Lina Khan, Andy Jassy, Walton, Jeffrey Goldfarb, Aditya Sriwatsav Organizations: Reuters, U.S . Federal Trade Commission, Walmart, Amazon, FTC, eBay, Amazon.com, Thomson Locations: United States
That's almost 40% of U.S. solar panel capacity, according to figures from the Solar Energy Industries Association. Political Cartoons View All 1211 ImagesIndustry jitters about a flood of cheap solar panels from overseas show how dependent on federal policy the solar industry remains. Even with that boost, solar industry leaders warn, factories will struggle to compete with a new spike in cheap Asian imports. They're again urging federal officials to investigate whether solar panels are being dumped at unfairly low prices. Politics envelops the solar industry.
Persons: That's, Qcells, , Scott Moskowitz, Joe Biden’s, Donald Trump, They're, Mike Carr, Carr, Moskowitz, Kamala Harris, Brian Kemp, Democratic U.S . Sen, Jon Ossoff, ” Kemp, Ossoff, Georgia Democratic Sen, Raphael Warnock, ” Ossoff Organizations: Hanwha, Solar Energy Industries Association, Associated Press, Republican, U.S, Solar Energy Manufacturers, America Coalition, Qcells, Republican Gov, Democratic U.S ., Georgia Democratic Locations: Georgia, United States, Dalton, U.S, Asia, Cartersville, Washington, China, Taiwan . U.S, OPEC
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/finance/stocks/if-the-economy-is-so-strong-why-are-consumer-stocks-tanking-904fbe7f
Persons: Dow Jones
Total: 25