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☆ Gap reports another period of declining sales across all brands, warns of 'uncertain consumer'
▼ + stars: | 2023-08-24 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +7 min

In this article GPS Follow your favorite stocks CREATE FREE ACCOUNTPedestrians walk past Old Navy and GAP stores in Times Square, New York City. The company is projecting net sales to decrease in the low double-digit range for the fiscal third quarter compared to last year's net sales of $4.04 billion. Sales declined 6% at Old Navy, on top of a sharp 13.6% decline in the prior-year period. Gap is betting Dickson can breathe new life into Gap's brands: its namesake banner, Old Navy, Banana Republic and Athleta. "We know that regardless of market conditions, strong brands, brands that matter, win," said O'Connell.

Persons: Drew Angerer, Katrina O'Connell, Neil Saunders, StreetAccount, Richard Dickson's, Mattel's Barbie, Dickson, Here's, Chris Blakeslee, Alo Yoga, O'Connell Organizations: Navy, GAP, Refinitiv, Old Navy, Mattel, Banana, Republic Locations: Times Square , New York City, Banana Republic, women's, men's, Gap China, North America

"In the near term, while the outlook for the developed world is uncertain, we expect China and India to remain relative sources of stability for commodity demand," BHP said. "We anticipate that these competing forces may have a variable impact on commodity prices in the period." But perhaps more concerning is that China and India, the two major sources of commodity demand in Asia, are at best stable in their demand outlooks, and even then BHP qualified this with the word "relative." When it comes to China, BHP acknowledged the current struggles Beijing is having in re-igniting growth in the world's second-biggest economy and top commodity importer. BHP is more confident about India, stating that an investment upswing is happening in the world's most populated country, and commodity demand has been "robust."

Persons: BHP, Clyde Russell, Stephen Coates Organizations: BHP Group, BHP, Reuters, Thomson Locations: LAUNCESTON, Australia, China, India, Asia, Beijing, CHINA

☆ The top 20 areas real-estate investors are piling into for high population growth, increasing rental demand, or price appreciation, according to a property-data firm
▼ + stars: | 2023-08-20 | by ( Laila Maidan | ) www.businessinsider.com time to read: +5 min

When it comes to single-family homes, it's predominantly investors, according to recent data from CoreLogic, a property-data firm that tracks real-estate transactions. But whether they are small or large investors, they are targeting specific areas, according to the data. "All the others make sense as these have been hot real estate investment areas that have been hot for a very long time in terms of investment. Small investors are active all around the country and make up most of the investors, he said. The below table is based on CoreLogic public records data for single-family transactions.

Persons: Thomas Malone, Goldman Sachs, who's, Malone, upticks, There's Organizations: CoreLogic, Investor, Mega, McAllen, El, San Bernardino -, Thousand Oaks, Beaumont, UT, KS Locations: CoreLogic, California, Jose, Sunnyvale, Santa Clara, CA, Angeles, Long, Anaheim, Edinburg, Mission, Brownsville, Harlingen , TX, Atlanta, Sandy Springs, Roswell, Francisco, Oakland, Hayward , CA, El Paso , TX, Diego, Carlsbad, Fresno, Modesto, Riverside, San Bernardino, San Bernardino - Ontario, Oxnard, Ventura, Santa Rosa, Stockton, Lodi , CA, Albuquerque, NM, Port Arthur, TX, Memphis, TN, Salt Lake City, Christi , TX, Wichita

CNN —Earnings season continues this week with Target, Walmart, TJ Maxx parent company TJX and other high-profile retailers set to release their quarterly results. That shift showed up in earnings results for retailers including Home Depot and Target earlier this year. US retail spending, which is adjusted for seasonality but not inflation, inched up in June but fell below economists’ expectations. Americans feel hopeful inflation is coolingAmericans are feeling more optimistic that inflation is trending down now and into the future. Consumer spending expectations ticked up from the month before but remain below levels seen during the past year, according to the report.

Persons: TJ Maxx, hasn’t, Christina Hennington, Doug McMillon, they’re, Matt Egan Organizations: CNN Business, Bell, CNN, Target, Walmart, TJ, Shoppers, Home Depot, Refinitiv, “, University of Michigan’s, Consumer, Federal Reserve Bank of New, Federal Reserve, AAA, Labor Locations: Federal Reserve Bank of New York, Russia, Saudi Arabia

The World Health Organisation (WHO) logo is seen near its headquarters in Geneva, Switzerland, February 2, 2023. "Collectively, available evidence does not suggest that EG.5 has additional public health risks relative to the other currently circulating Omicron descendent lineages," the WHO said in a risk evaluation. COVID-19 has killed more than 6.9 million people globally, with more than 768 million confirmed cases since the virus emerged. Maria Van Kerkhove, the WHO's technical lead on COVID-19, said EG.5 had an increased transmissibility but was not more severe than other Omicron variants. Director General Tedros Adhanom Ghebreyesus deplored that many countries were not reporting COVID-19 data to WHO.

Persons: Denis Balibouse, Maria Van Kerkhove, Tedros Adhanom Ghebreyesus, Van Kerkhove, Leroy Leo, Gabrielle Tétrault, Farber, Toby Chopra, Angus MacSwan Organizations: World Health Organisation, REUTERS, World Health Organization, EG, WHO, Thomson Locations: Geneva, Switzerland, United States, China, South Korea, Japan, Canada, Bengaluru

☆ Wall St Week Ahead Inflation report, bond yields in focus as U.S. stocks rally pauses
▼ + stars: | 2023-08-04 | by ( Carolina Mandl | ) www.reuters.com time to read: +5 min

Investors are also closely watching the path of Treasury yields, which rattled equity markets in recent days by rising to fresh year highs. The S&P 500 fell 2.27% this week, its biggest weekly decline since March 10. Janasiewicz of Natixis said a stronger-than-expected consumer price reading next week could spark a decline of up to 5% in the S&P 500. A stronger-than-expected inflation number next week could also boost Treasury yields further. Rising yields on Treasuries, viewed as among the world's safest investments because they are backed by the U.S. government, can dull the allure of stocks.

Persons: Brendan McDermid, Jack Janasiewicz, Natixis, Aaron Chan, Refinitiv, Tim Murray, Rowe Price, Brent, Ann Miletti, Fitch, Keith Lerner, Lerner, Carolina Mandl, Lewis Krauskopf, Ira Iosebashvili, David Gregorio Our Organizations: U.S, REUTERS, Federal Reserve, Natixis Investment, Amazon.com, Cruise, Treasury, U.S ., Advisory, Wall Street, Amazon, Google, Apple, BofA Global Research, JPMorgan, Carolina, Thomson Locations: Wall St, New York, U.S, Stocks, Refinitiv

☆ Wall Street misses the big picture on Apple by focusing on softer iPhone sales
▼ + stars: | 2023-08-02 | by ( Morgan Chittum | ) www.cnbc.com time to read: +6 min

Ahead of Club name Apple 's (AAPL) second-quarter results Thursday, some on Wall Street have warned the company could be weighed down by weakening iPhone sales. Analysts on Wall Street estimate $81.7 billion in sales, which would constitute a roughly 2.3% annual decline, according to FactSet. The country has become one of the top-five iPhone markets over the past quarter for Apple, according to Counterpoint Research. In a note to clients last week, Morgan Stanley forecasted that India could comprise 15% of Apple’s revenue growth over the next five years. Still, Wall Street is torn over iPhones sales and whether they will come in softer on Thursday.

Persons: Steve Cook, Cook, Morgan Stanley, Wells, we’re, we're, We're, hasn't, Jim Cramer's, Jim Cramer, Jim, Jakub Porzycki Organizations: Apple, Big Tech, JPMorgan, Tech, Research, CNBC, UBS, Bloomberg, U.S, Major League Soccer, Nurphoto, Getty Locations: India, China, Hong Kong, Taiwan, Americas, Europe

☆ Opinion: American women have an alcohol problem. It’s critical to understand why
▼ + stars: | 2023-08-01 | by ( Opinion Jill Filipovic | ) edition.cnn.com time to read: +8 min

CNN —American women have a problem with booze. The messaging around women and drinking has reflected women’s shift toward the dysfunctional, which may then create a vicious cycle as more women see problem drinking cast as cheeky, fun or normal. And more women may now be paying the price for this normalization of alcohol abuse. I suspect many of them are turning to alcohol as one way to dull the painful reality of isolation. None of that will end alcohol abuse, which has been a centuries-long problem.

Persons: Jill Filipovic, —, White, ”, they’re, we’re Organizations: Twitter, CNN, American Medical Association, White Locations: New York, prurient, America, Europe

☆ Digital ad vultures descend on TV’s carcass
▼ + stars: | 2023-07-28 | by ( Jennifer Saba | ) www.reuters.com time to read: +3 min

NEW YORK, July 28 (Reuters Breakingviews) - The digital advertising hunt is back on. Reuters Graphics Reuters GraphicsAlthough Meta and Alphabet dominate the digital ad market, there’s plenty of money yet to fight for. Comcast (CMCSA.O), for example, said on Thursday that U.S. ad revenue at its NBC Universal media division fell 5% and overall EBITDA was down nearly a fifth. Despite the volatile nature of advertising revenue because of its close links to economic trends, it also typically generates healthy operating margins. It’s no wonder then that Amazon.com (AMZN.O), Walmart (WMT.N), DoorDash (DASH.N) and many more are descending on TV’s carcass.

Persons: Mark Zuckerberg, Jerome Powell, WPP’s, Jeffrey Goldfarb, Sharon Lam Organizations: YORK, Reuters, Meta, Google, Uber Technologies, Netflix, Facebook, YouTube, Conference Board, Federal, PepsiCo, Reuters Graphics Reuters, Comcast, NBC Universal, Walmart, Thomson Locations: New York

☆ 3 signs the US economy is set to zoom past growth expectations
▼ + stars: | 2023-07-26 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +7 min

On Thursday, new GDP data will show just how much the US economy grew between April and June. The US has also been experiencing a factory boom, with construction spending on US manufacturing nearly doubling from May 2022 to May 2023. Manufacturing employment recently hit its highest level since 2008, and since Biden took office, around 800,000 manufacturing jobs were added. In the first two quarters of this year, applications to start a business likely to hire employees grew 7% year-over-year. Sectors leading likely employer business applications include accommodation and food services, construction, health care and social assistance, and retail trade.

Persons: Morgan Stanley, Joe, Biden, Ellen Zentner, Julia Coronado Organizations: Infrastructure Investment, Jobs, Service, Federal Reserve Bank of Atlanta, Federal Reserve Bank of Philadelphia, Congressional, Investments, Economic, Sectors, National Association for Business Economics, Conference, CPI, Federal Locations: Wall, Silicon, —, Philadelphia, frastructure, Mississippi, North Carolina

☆ EV sales: Hyundai overtakes GM, but Tesla's U.S. dominance continues
▼ + stars: | 2023-07-07 | by ( Michael Wayland | ) www.cnbc.com time to read: +6 min

Meanwhile, Hyundai — including the Kia brand that's owned by the same parent company — increased its EV sales by roughly 11% during that time to 38,457 units. GM, which was second in EV sales through the first quarter, more than quadrupled electric car and truck sales to 36,322 units through June compared with a year earlier. And Volkswagen more than doubled EV sales to 26,538 units sold through June. Scott Mlyn | CNBCGM's EV sales thus far have been disappointing, especially when it comes to new models with the automaker's "Ultium" battery technologies. Correction: GM was second in EV sales through the first quarter of this year.

Persons: Brandon Bell, Tesla, Andrew Frick, hasn't, Elon Musk, Musk, disappoints Hyundai's, Randy Parker, we're, Parker, Scott Mlyn, Cadillac Lyriq, Mary Barra, Barra, It's, —, Phil LeBeau, Lora Kolodny Organizations: Getty, Hyundai Motor, General Motors, Motor Intelligence, Hyundai, Kia, GM, Ford Motor, EV, Ford, U.S, Automotive, Biden, Hyundai Motor America, New York Auto Show, CNBC, GMC Hummer, Cadillac, Chevrolet, Aspen Ideas, Chevrolet Silverado, Detroit Locations: Austin , Texas, U.S, Mexican, Texas, North America, South Korea

American workers are still quitting their jobs, per Bureau of Labor Statistics data. The Bureau of Labor Statistics' newly released monthly Job Openings and Labor Turnover Survey shows that job openings are still high, even though they dropped slightly from April. Plus, the number of workers quitting their jobs actually grew in May, all while layoffs stayed near historic lows. It signals a labor market where workers — especially blue-collar workers — still feel comfortable leaving their jobs, with plenty of opportunities awaiting them, including remote and hybrid options. The sector — which houses, in part, tech workers — was one industry among a handful that saw a dip in its quit rate.

Persons: —, Nick Bunker, it's, Bunker, Joanne Hsu, Hsu, There's Organizations: Labor Statistics, Service, Privacy, Labor, Survey, Bureau of Labor Statistics, University of Michigan, Consumers

☆ It could take 131 years for the world to close the gender gap, report shows
▼ + stars: | 2023-06-20 | by ( Alicia Wallace | ) edition.cnn.com time to read: +3 min

Minneapolis CNN —Progress on achieving global gender equality is languishing. A new report from the World Economic Forum estimates that women won’t attain parity with men for another 131 years. The overall gender gap — a measurement of equality across the realms of the economy, politics, health and education — closed by a mere 0.3% as compared to last year, according to the WEF’s “Global Gender Gap Report 2023,” released Wednesday. “Today, some parts of the world are seeing partial recoveries while others are experiencing deteriorations as new crises unfold.”The WEF’s Gender Gap Index measures gender parity in 146 countries and across four areas: economic participation and opportunity, educational attainment, health and survival and political empowerment. “Accelerating progress towards gender parity will not only improve outcomes for women and girls but benefit economies and societies more widely, reviving growth, boosting innovation and increasing resilience,” Zahidi wrote.

Persons: ”, Saadia Zahidi, ” Zahidi, “ Organizations: Minneapolis CNN, “, United Locations: Minneapolis, Iceland, Norway, Finland, New Zealand, Sweden, Germany, Nicaragua, Namibia, Lithuania, United States

☆ Jobs are strong, inflation is cooling — yet recession worries remain
▼ + stars: | 2023-04-18 | by ( Christine Romans | ) edition.cnn.com time to read: +4 min

In the optimist camp is Treasury Secretary Janet Yellen, who told CNN’s Fareed Zakaria last week a damaging recession can be averted. “I do think there is a path to bring down inflation while maintaining what I think all of us would regard as a strong labor market.”After months of inflation at close to 40-year highs, prices are cooling. By most measures, the job market is stronger today than it was in February 2020, before the Covid pandemic crashed the global economy. “I think the strong labor market and bringing down inflation are compatible goals,” Yellen said. Another read is that a recession, if there is one, will be mild and brief, without a big spike in the jobless rate.

☆ The US and its allies are stuck in a violent cycle with Iran-backed militias who want blood but don't want to 'poke the bear'
▼ + stars: | 2023-04-16 | by ( Jake Epstein | ) www.businessinsider.com time to read: +11 min

But even still, miscalculation is possible, and these deadly exchanges nearly sent the US and Iran to war just a few years ago. In response, two US Air Force F-15E fighter jets carried out airstrikes later that evening against IRGC Quds Force facilities in Syria, killing eight Iran-backed militants. Angel Ruszkiewicz"We do not seek conflict with Iran, we don't seek escalation with Iran," Pentagon Press Secretary Brig. "As soon as the Iranian special forces and their proxies showed up in Syria, the Israelis started hitting them. The next day, Iran-backed militias attacked US forces near Hasakah, killing the American contractor.

☆ Yellen to CNN: The US can bring down inflation while maintaining a strong job market
▼ + stars: | 2023-04-15 | by ( Alicia Wallace | ) edition.cnn.com time to read: +4 min

“I do think there’s a path to bring down inflation while maintaining what I think all of us would regard is a strong labor market,” Yellen said. Yellen said she is seeing some easing of stress in the labor market, including increases in unemployment claims, declines in job openings, and upticks in labor force participation. The labor market gaining more slack will help bring inflation down, but it doesn’t mean there needs to be a significant jump in unemployment, she said. “I think the strong labor market and bringing down inflation are compatible goals,” she said. “Americans should note that America has a safe, strong banking system,” she said.

☆ The State of Payment Methods: More Choice and Economic Changes Are Affecting Consumers Spend
▼ + stars: | 2023-03-21 | by ( Insider Intelligence | ) www.businessinsider.com time to read: +3 min

Although debit still reigns supreme, with consumer preferences moving toward digital, cash and checks will continue to be displaced in the US. But even though cash usage is dwindling, the Federal Reserve reports that 79% of US adults still hold cash daily. Cash and check usage may be dwindling, but debit and credit cards are seeing upticks among economic uncertainty. As consumers become more concerned about the economy and job security while also steadily adopting new digital solutions, we are seeing shifts away from traditional payment methods. Curious to learn more about the state of payment methods?

☆ The State of Payment Methods: More Choice and Economic Changes Are Affecting How Consumers Spend
▼ + stars: | 2023-03-16 | by ( Insider Intelligence | ) www.businessinsider.com time to read: +3 min

☆ The Great Resignation is pretty much over for some workers — but not everyone. See how your industry is doing.
▼ + stars: | 2023-03-11 | by ( Juliana Kaplan | Madison Hoff | ) www.businessinsider.com time to read: +6 min

Right now, the Great Resignation is still strong in many blue-collar, service industries. But the Great Resignation is coming to an end in remote, knowledge-based roles. Information, which encompasses some tech roles, also saw employment decline from January to February. "If you read about the Great Resignation while you were working from home on a computer, in your pajamas, the Great Resignation's over," Terrazas said. In industries like retail and leisure and hospitality, the Great Resignation lives on.

Artificial intelligence is all the rage on Wall Street, but investors are making big bets against two names in the space. BBAI 1Y mountain BBAI in past year Short interest in C3.ai , a company that makes AI enterprise applications, also surged recently. A handful of meme stocks also saw big upticks in short interest, including AMC Entertainment and Bed Bath & Beyond. Short interest data is updated twice a month and reported mid-month and at the end of the month. The next release date is March 9 for short interest data as of Feb. 28).

☆ Russian factory activity expands at quickest rate in six years in Feb -PMI
▼ + stars: | 2023-03-01 | by ( ) www.reuters.com time to read: +2 min

The S&P Global Purchasing Managers' Index (PMI) rose in February to 53.6 from 52.6 in January, moving further above the 50 mark that separates expansion from contraction. Manufacturing firms surveyed highlighted that February's solid rise in production was linked to import substitution and a further expansion in new orders, S&P Global said in a statement. Input costs increased further, the survey showed, with the rate of inflation accelerating. "The pace of increase in input prices was sharp and the fastest since May 2022," S&P Global said. "Concurrently, the rate of job creation eased further," S&P Global said.

☆ Millions of millennials could soon enter a midlife crisis. But they're going to spend and divorce less — and value experiences more — than prior generations.
▼ + stars: | 2023-02-22 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +6 min

Millions of millennials could experience a midlife crisis over the next decade. But even if the midlife crisis persists among millennials, they're unlikely to respond to it the same way as prior generations. That said, there's some evidence that millennials' spending habits are actually a bit different than those of Gen X and boomers. So when the midlife crisis comes, millennials may respond by taking a big vacation rather than buying a sports car. The lower marriage rate among millennials is among the reasons they've also had fewer children than prior generations.

☆ Pending home sales increased last month for the first time since May
▼ + stars: | 2023-01-27 | by ( Anna Bahney | ) edition.cnn.com time to read: +4 min

Washington, DC CNN —Pending home sales increased in December for the first time since May, a sign that lower mortgage rates are bringing some buyers back into the housing market. The pending sales index, based on signed contracts to buy a home rather than the final sales that are accounted for in existing home sales, improved by 2.5% from November to December, according to data released Friday from the National Association of Realtors. Pending sales dropped in the Northeast, where the index was down 6.5% in December from November; and in the Midwest, where the index was down 0.3%. Pending sales were up 6.1% in the South in December from November and rose 6.4% in the West. “Mortgage applications have been trending higher alongside lower rates, pending home sales are up, and builder confidence increased in January,” Kushi said.

☆ FuboTV insiders describe how its 'doomed' sportsbook collapsed in a year — and what it means for the future of the streaming company
▼ + stars: | 2023-01-19 | by ( Colin Salao | Ashley Rodriguez | ) www.businessinsider.com time to read: +22 min

But despite the MetLife lounge remaining open throughout the 2021-22 NFL season, the Fubo Sportsbook wouldn't launch in New Jersey until the following one, in September 2022. "It was doomed from the start," one former Fubo Gaming staffer told Insider. Meanwhile, Rattner — whom the first former Fubo gaming staffer described as a "good talker" — sustained the startup's more youthful culture. The Fubo Sportsbook launched in New Jersey on September 7, days before the first Jets home game. A promotional image from when the Fubo Sportsbook went live in New Jersey in September 2022.

☆ 10 auto industry predictions for investors to keep an eye on this year
▼ + stars: | 2023-01-15 | by ( Michael Wayland | ) www.cnbc.com time to read: +7 min

Cox has 10 predictions for the U.S. auto industry this year that point to such an outcome. "This is actually where we think the majority of growth will be in new vehicle sales in '23," Smoke said. Cox forecasts U.S. new vehicle sales will be 14.1 million in 2023, a slight increase from nearly 13.9 million last year. New vehicle inventory levels will continue to increaseExpectations for lower demand come as the automotive industry is slowly increasing its production of vehicles, leading to higher inventory levels. Inventory levels the past two years were at record lows due to supply chain and parts problems affecting production.

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