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☆ MLB roundup: Red Sox hand Yanks 8th straight loss
▼ + stars: | 2023-08-21 | by ( ) www.reuters.com time to read: +9 min

The Red Sox challenged the play for obstruction and Kiner-Falefa's run was overturned. Belt hit two-run and solo shots, Kevin Kiermaier and George Springer had two-run homers and Bo Bichette added a solo blast in the rubber match of a three-game series. The loss broke the Braves' five-game winning streak and handed them their first home loss in eight games this month. Maikel Garcia's run-scoring single and Drew Waters' RBI groundout got them within a run with the tying run on second. Yoan Moncada hit a two-run double that tied the game and Oscar Colas made it 7-5 with a two-run double during the seventh-inning uprising.

Persons: Justin Turner, Wendell Cruz, Turner, Clay Holmes, Pablo Reyes, Michael King, Anthony Volpe, Isiah Kiner, Falefa, Connor Wong, Trevor Williams, Jordan Weems, Hunter Harvey, Mason Thompson, Kyle Finnegan, Finnegan, Jake Cave, Keibert Ruiz, Dominic Smith, Eugenio Suarez, Dominic Canzone, Dylan Moore, Hunter Brown, Emerson Hancock, Houston, Max Scherzer, Tyrone Taylor, Christian Yelich, Scherzer, Taylor, Adrian Houser, Phil Niekro, Dallas Keuchel, Bryan Reynolds, Edouard Julien, Jhoan Duran, Cy Young, Hunter Greene, Brandon Belt, Kevin Kiermaier, George Springer, Bo Bichette, Greene, Joc Pederson, Kirby Yates, Michael Conforto, Thairo Estrada, Wilmer Flores, Patrick Bailey, J.D, Davis, Yates, Pederson, Kyle Hendricks, Seiya Suzuki, Miguel Amaya, Hendricks, Bobby Witt Jr, Michael Massey's, Maikel Garcia's, Drew Waters, Adbert Alzolay, Dairon Blanco, Ryan Mountcastle, Gunnar Henderson, Kyle Bradish, Jorge Mateo, Brent Rooker, Nick Vespi, Spencer Torkelson, Kerry Carpenter, Eduardo Rodriguez, Logan Allen, Matt Vierling, Torkelson, Rodriguez, Allen, Paul Goldschmidt, Louis, Richie Palacios, Pete Alonso, Dakota Hudson, Andrew Vaughn, Lenyn Sosa, Andrew Benintendi, Zach Remillard, Aaron Bummer, Yoan Moncada, Oscar Colas, Charlie Blackmon, Michael Toglia, Harold Castro Organizations: Boston Red Sox, New York Yankees, Yankee, Boston, Yankees, Red Sox, Phillies, Philadelphia, MLB Little, Washington, Mariners, Astros, Seattle, Houston, American League, Brewers, Rangers, Milwaukee, Pirates, Dallas, Minnesota, Pittsburgh, Chicago White Sox, Blue Jays, Reds, Toronto, Cincinnati, Giants, Braves, Cubs, Royals, Chicago, Kansas, Kansas City . Kansas City, Orioles, Athletics, Baltimore, Oakland, Tigers, Detroit, Cleveland, Cardinals, Mets, New, White Sox, Rockies, Colorado, Thomson Locations: Bronx , New York, USA, Williamsport, Pa, Houston, Texas, Arlington , Texas, Minneapolis, Keuchel, Brandon, San Francisco, Atlanta, Kansas City ., Dairon, Oakland, Seattle, San Diego, New York, Denver

☆ Villa hit back with big win over Everton
▼ + stars: | 2023-08-20 | by ( ) www.reuters.com time to read: +3 min

BIRMINGHAM, England, Aug 20 (Reuters) - Aston Villa claimed their first three points of the Premier League season as John McGinn, Douglas Luiz, Leon Bailey and Jhon Duran scored to secure an emphatic 4-0 home win over Everton on Sunday. "Last week was tough for us, full respect for Newcastle, they did a job on us," McGinn told Sky Sports. Villa opened the scoring through McGinn, who turned in Bailey's cutback in the 18th minute to put the hosts ahead at Villa Park. The Merseyside club lost another key attacker to injury as Alex Iwobi was taken off with what looked like a hamstring issue, before Bailey scored Villa's third. Everton host Wolverhampton Wanderers on Saturday and Villa travel to Scotland to face Hibernian in the first leg of a Europa Conference League playoff tie on Wednesday.

Persons: Aston, John McGinn, Douglas Luiz, Leon Bailey, Jhon Duran, Unai, McGinn, we've, Villa, Bailey's, Jordan Pickford, Ollie Watkins, Dominic Calvert, Lewin, Emiliano Martinez, Lewis Dobbin, Idrissa Gueye, Alex Iwobi, Bailey, Michael Keane, Duran, Pickford, Ashley Young, Keane, Sean Dyche, Aadi Nair, Ed Osmond Organizations: Aston Villa, Premier League, Everton, Newcastle United, Newcastle, Sky Sports, Villa Park, Villa, Fulham, Merseyside, BBC, Wolverhampton Wanderers, Hibernian, Europa Conference League, Thomson Locations: BIRMINGHAM, England, Bailey's cutback, Villa, Scotland, Bengaluru

☆ Forget about a recession sinking the stock market. Rising rates threaten to spoil the party just like they did in 2022.
▼ + stars: | 2023-08-19 | by ( William Edwards | ) www.businessinsider.com time to read: +6 min

Yields on 10-year Treasury yields have surged well above 4%. With both stock valuations and interest rates high, stock prices could continue to fall. Yields on 10-year Treasury notes surged to 15-year highs this week, surpassing 4.3% for the first time since late 2007. This has put a damper on what was a 20% rally for the S&P 500 from January to the end of July. The median S&P 500 year-end price target among major Wall Street strategists is 4,300, just below the index's current price around 4,370.

Persons: Stocks, Adam Turnquist, Treasurys, It's, John Lynch, they've, Tom Essaye, Lynch, Turnquist, David Rosenberg, Rosenberg, Greg Boutle, Cantor Fitzgerald's Eric Johnston, Piper Sandler's Michael Kantrowitz Organizations: Treasury, LPL, Bank of America, Comerica Wealth, Wall Street, Rosenberg Research, RBC, BNP

☆ Man Who Sold Michael K. Williams Drugs That Killed Him Is Sentenced
▼ + stars: | 2023-08-18 | by ( Hurubie Meko | ) www.nytimes.com time to read: +1 min

A man who sold a fatal dose of fentanyl-laced heroin to Michael K. Williams, the actor who rose to fame for his portrayal of a stickup man named Omar Little on the HBO series “The Wire,” was sentenced on Friday to 10 years in prison. But it was Mr. Cartagena who sold Mr. Williams the drugs that killed him on Sept. 5, 2021. Mr. Williams, 54, met the men in front of the apartment building that day and Mr. Cartagena handed him the drugs, prosecutors said. He returned to his own apartment nearby and was found dead the following day. Mr. Cartagena, 40, who is also known as “Green Eyes,” was first introduced to heroin when he was 13 years old and living in Puerto Rico, where he grew up, his lawyers said.

Persons: Michael K, Williams, Omar Little, ”, Irvin Cartagena, Cartagena Organizations: HBO Locations: Williamsburg, Brooklyn, Cartagena, Puerto Rico

“It’s knocked the Russians off balance a bit, but it is not doing anything decisive,” a senior defense official told CNN. Investigative Committee of Russia/Reuters“There’s more and more pressure on Crimea, and especially so in recent weeks,” that official told CNN. For now, the United States is not actively advising Ukraine against striking Crimea, according to the senior defense official. A stalled offensiveUS and Ukrainian officials openly acknowledge that the Ukrainian counteroffensive has not proceeded as quickly as had been expected and war-gamed in the months leading up to the push. “I’m not too optimistic that we’ll be at the Sea of Azov by Christmas,” said the US military official.

Persons: “ It’s, ”, Reuters “, “, Vladimir Putin, Michael Kofman, ” Miles, “ I’m Organizations: CNN, Biden, Western, Reuters, Eurasia Program, Carnegie Endowment, International Locations: Ukraine, Crimea, Washington, Russian, Russia, Crimean, Kerch, Ukrainian, United States, Bakhmut, Azov, Europe, “

☆ Tapestry sees weak fiscal 2024 after missing qtrly estimates on soft U.S. demand
▼ + stars: | 2023-08-17 | by ( ) www.reuters.com time to read: +2 min

[1/2] A signage is seen in the offices of Tapestry, Inc., in Manhattan, New York, U.S., November 19, 2021. Luxury rivals Ralph Lauren (RL.N), LVMH (LVMH.PA), Gucci-owner Kering (PRTP.PA) and Canada Goose (GOOS.TO) have also faced sales pressures from softening U.S. demand. Tapestry expects adjusted earnings in the range of $4.10 to $4.15 per share in fiscal 2024, compared to estimates of $4.24. Tapestry said fiscal 2024 net sales were approaching $6.9 billion, compared to average analysts' estimate of $6.93 billion. The company's adjusted per share was 78 cents in the fourth quarter ended July 1, missing analysts' estimate of 97 cents.

Persons: Andrew Kelly, Ralph Lauren, RL.N, Gucci, Kering, Michael Kors, Kate Spade, Stuart Weitzman, Rachel Wolff, Tapestry, Savyata Mishra, Juveria, Maju Samuel Organizations: Tapestry, Inc, REUTERS, Capri, Insider, Thomson Locations: Manhattan , New York, U.S, United States, North America, China, Bengaluru

☆ Braves blank Yanks again, sweep series
▼ + stars: | 2023-08-17 | by ( Field Level Media | ) www.reuters.com time to read: +2 min

[1/42] Aug 16, 2023; Atlanta, Georgia, USA; New York Yankees starting pitcher Randy Vasquez (98) throws against the Atlanta Braves in the first inning at Truist Park. Mandatory Credit: Brett Davis-USA TODAY Sports Acquire Licensing RightsAugust 17 - Right-hander Charlie Morton rediscovered his control and threw six shutout innings to help the Atlanta Braves beat the visiting New York Yankees 2-0 on Wednesday and sweep the three-game interleague series. The Braves have won six of their last seven and swept their 11th series of the season. The Braves are off Thursday and begin a three-game home series against San Francisco on Friday. The Yankees return home to start a three-game series against Boston on Friday.

Persons: Randy Vasquez, Brett Davis, Charlie Morton, Morton, Pierce Johnson, Kirby Yates, Raisel Iglesias, Iglesias, Marcell Ozuna, Eddie Rosario, Michael King, Keynan Middleton Organizations: New York Yankees, Atlanta Braves, USA, Braves, Yankees, Cleveland, League, Rosario, Atlanta, Truist, San Francisco, Boston, Thomson Locations: Atlanta , Georgia, USA, Truist, Rosario . New York

☆ The US is quietly warning its Middle East partners about the cost of stocking up on Chinese-made weapons
▼ + stars: | 2023-08-17 | by ( Paul Iddon | ) www.businessinsider.com time to read: +9 min

Chinese arms sales in the Middle East have increased by 80% over the past decade, a result of Beijing's expanding relationships there and its willingness to deliver arms faster and with fewer stipulations than Washington. FAYEZ NURELDINE/AFP via Getty ImagesMiddle Eastern countries, led by the Arab Gulf states, have for decades been major buyers of US-made weapons. Chinese arms sales to the region are "substantial and expected to continue to increase," said Ahmed Aboudouh, an associate fellow at Chatham House. "But it's just one factor among many, including varying threat perceptions of Iran among the Arab Gulf states as well as varying levels of trust between the Arab Gulf governments themselves." Paul Iddon is a freelance journalist and columnist who writes about Middle East developments, military affairs, politics, and history.

Persons: Michael Kurilla, Kurilla, Loong, KARIM SAHIB, Colin Kahl, Biden, Kahl, We're, FAYEZ NURELDINE, Ahmed Aboudouh, Aboudouh, James Hodgman, Russia's, ANDREW CABALLERO, REYNOLDS, Emily Hawthorne, RANE, that's, Hawthorne, Abu Dhabi, Mohammed bin Zayed, Xi, ANDY WONG, Kahl's, Paul Iddon Organizations: Service, US Central Command, Senate Armed Services Committee, Dubai Airshow, Getty, Chatham House, Pentagon, Getty Images, United Arab Emirates, Patriot, Al Udeid, Base, US Air Force, Tech, Air Defense, Turkey, NATO, East, Khalifa, UAE, US, Abu Dhabi Crown, Gulf Cooperation Council Locations: China, Washington, Wall, Silicon, Beijing, AFP, British, Saudi, Riyadh, Saudi Arabia, Abu Dhabi, East, North Africa, Qatar, Russia, Europe, Gulf, UAE, Yemen, Ankara, Turkey, Prince, Xinhua, Khalifa, Abu, Arab Gulf, Iran

☆ At Edinburgh Fringe, Small Shows With Big Ambitions
▼ + stars: | 2023-08-17 | by ( Houman Barekat | ) www.nytimes.com time to read: +2 min

In a smart revival of Cyriel Buysse’s Flemish classic, “The Van Paemel Family” by the Antwerp troupe SKaGeN, the actor Valentijn Dhaenens sidesteps this difficulty by playing all the play’s roles. Mr. van Paemel is slavishly loyal to the landowner for whom they all work, and believes organized labor is a scourge. This eerie visual texture, neatly complemented by the doleful tones of an accordion, made for a memorably unique aesthetic. The standout Fringe show was Lara Foot’s stylish adaptation of “The Life and Times of Michael K.,” J.M. Coetzee’s Booker Prize-winning 1983 novel about the struggles of a poor man during a fictional civil war in South Africa.

Persons: Van, Valentijn Dhaenens, van Paemel, Lara Foot’s, Michael K, ”, Coetzee’s Booker Organizations: SKaGeN, Handspring, Company Locations: Antwerp, South Africa

☆ Houses Are Still Big. Prices Are Much Bigger.
▼ + stars: | 2023-08-17 | by ( Michael Kolomatsky | ) www.nytimes.com time to read: +1 min

Until the 1960s, a typical single-family home built in the United States measured about 1,500 square feet. By the turn of the 21st century, the median home size was topping 2,000 square feet, according to the Census Bureau. Homes in this region now average 2,477 square feet, with the highest cost per square foot in the country. In the South, new homes sold in 2022 averaged 2,608 square feet, about 3 percent smaller than they were a decade ago, and second in size behind Northeastern homes. The smallest homes were sold in the Midwest, averaging 2,397 square feet, 2 percent smaller than a decade earlier.

Organizations: Census, LendingTree, U.S Locations: United States

☆ Sen. Dianne Feinstein says she's being cut out of millions from her husband's estate in an act of 'financial elder abuse'
▼ + stars: | 2023-08-16 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +4 min

Dianne Feinstein alleges that the trustees for her husband's estate have engaged in "financial elder abuse." Katherine Feinstein, who filed the suit on behalf of her mother, alleges that Feinstein is being cut out of millions. Katherine Feinstein, a former San Francisco judge, filed the suit on behalf of her mother. In a previous suit, Katherine Feinstein alleged that the trust was not moving quickly enough to sell the Stinson Beach house. Katherine Feinstein concedes that the trust has never denied one of Feinstein's requests, but characterizes this claim as "misleading."

Persons: Dianne Feinstein, Katherine Feinstein, Feinstein, Richard Blum's, Sen, Dianne Feinstein's, Feinstein's, Blum, Michael Klein, Marc Scholvinck, Verett Mims, Klein, Scholvinck, Steven P, Braccini Organizations: Service, San Francisco Chronicle, California Democrat, San Francisco, D.C, Stinson, Claremont Locations: Wall, Silicon, California, San Francisco, Washington, Kauai, Berkeley , California, Feinstein's

☆ Ukraine's counteroffensive would fall apart without all the Russian vehicles it has captured, frontline mechanic says
▼ + stars: | 2023-08-15 | by ( Sophia Ankel | ) www.businessinsider.com time to read: +2 min

Ukrainian mechanics are working on the frontlines to rapidly fix and convert captured vehicles. One mechanic told The New York Times that Russian vehicles have been vital in the counteroffensive. "Without the Russian captured vehicles, we would not manage to keep going," he told The Times. "Without the Russian captured vehicles, we would not manage to keep going," he told The Times. He said the brigade captured more than 20 Russian vehicles in the past six weeks of Ukraine's counteroffensive.

Persons: —, Hammer, Oleksandr Saruba, Michael Kofman, Kofman Organizations: New York Times, Times, Service, 35th Marine Brigade, Deutsche Welle, Carnegie Locations: Russian, Wall, Silicon, Ukraine, Russia, Ukrainian

Senator Dianne Feinstein (D-CA) attends a Senate Judiciary Committee executive business meeting to vote on legislation and pending nominations before the committee, on Capitol Hill in Washington, U.S., May 11, 2023. REUTERS/Kevin Lamarque/File Photo Acquire Licensing RightsWASHINGTON, Aug 15 (Reuters) - U.S. Democratic Senator Dianne Feinstein has filed a lawsuit alleging financial elder abuse and breach of trust by the trustees of her late husband's estate, with the legal filing seeking their removal over the alleged wrongdoing. The lawsuit alleges that the trustees committed "financial abuse" of Feinstein by "wrongfully withholding distributions to which (her late husband's) trust entitles her in bad faith and diverting assets that they should have used to fund" the senator's trust. The attorney added: "The trustees have always respected Senator Feinstein and always will. First elected to the Senate in 1992, Feinstein has said she will not seek re-election in 2024.

Persons: Dianne Feinstein, Kevin Lamarque, Katherine Feinstein, Feinstein, Richard Blum, Steven Braccini, Michael Klein, Marc Scholvinck, Kanishka Singh, Sandra Maler Organizations: Capitol, REUTERS, Rights, Democratic, California Superior Court, Democrats, Senate, San Francisco Chronicle, Committee, Thomson Locations: Washington , U.S, California, County, San Francisco, Washington

☆ Many young unmarried couples don’t split costs equally. Experts weigh in on what's 'fair'
▼ + stars: | 2023-08-15 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +5 min

Millennial couples are more likely to live together, with 65%, versus 37% of Gen Z couples. More than half of couples, 54%, said finances were part of their decision to move in together. Half of couples don't split the mortgage or rent equally, and 39% do not split pet costs equally, the survey found. Experts say the survey results underscore that when it comes to sharing expenses, equal isn't always equitable, or fair. "I think it's almost not fair to split finances 50-50 without taking into account your partner's financial situation," said Daigle, who is also a member of the CNBC Financial Advisor Council.

Persons: Gen Z, Michael Kraus, Cathy Curtis, Curtis, Sophia Bera Daigle, Daigle, Carli Blau, Blau, Kraus, Couples Organizations: Istock, Getty, of Psychology, Finance, Yale University, Curtis Financial, CNBC, Society Locations: U.S, Oakland , California, Austin , Texas, New York

☆ With the Latest Trump Indictment, Mind These Lessons From the South - The New York Times
▼ + stars: | 2023-08-15 | by ( Anthony Michael Kreis | ) www.nytimes.com time to read: +1 min

With her sweeping indictment of former President Donald Trump and over a dozen co-conspirators, the Fulton County, Ga., district attorney Fani Willis is now set to prosecute her case in a court of law. The indictment should be situated in the broader arc of American political development, particularly in the South. That history justifies using the criminal justice system to protect the democratic process in Georgia — a critical swing state — for elections now and in the future. The period after the American Civil War entrenched many of America’s political ills. Suffering minimal political disabilities, they could muster enough power to “redeem” Southern governments from biracial coalitions that had considerable sway to remake the South.

Persons: Donald Trump, Fani Willis Locations: Fulton County ,, Georgia

☆ This bank will now pay 5% yield on your savings
▼ + stars: | 2023-08-14 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +1 min

A new bank has joined the 5% club, handing savings account depositors a hefty yield on their idle cash. Bread Financial is the latest bank to offer 5% annual percentage yield to its savings account clients, hiking its rate 10 basis points. Bread's move to boost its yield makes it the first online bank under Wells Fargo's coverage to reach 5%, said analyst Michael Kaye. Marcus by Goldman Sachs also recently raised its online savings account rate 15 basis points, now offering a yield of 4.3% on savings accounts. "We still expect online bank rates will continue climbing even after the Fed stops raising its rates," wrote Vincent Caintic, analyst at Stephens.

Persons: Michael Kaye, Marcus, Goldman Sachs, Vincent Caintic, Stephens, Michael Bloom Organizations: Federal Reserve, Popular, CIT Bank, Fed Locations: Wells, 2H23

☆ A former BlackRock stock chief shares 3 indicators that tell him it's too early to abandon his recession call despite the economy's strength — and warns the stock market's rally is doomed for a revers
▼ + stars: | 2023-08-12 | by ( William Edwards | ) www.businessinsider.com time to read: +6 min

The inverted yield curve and The Conference Board's LEI are two indicators that inform his view. Instead, investors should be paying attention to indicators like the Treasury yield curve, The Conference Board's Leading Economic Index, and money growth. Here's the yield curve. And the start of a recession typically comes a bunch of of months after the yield curve inverts. The yield curve didn't invert until less than a year ago.

Persons: Bob Doll, LEI, Doll, Wall, — Bank of America's Michael Gapen, Michael Feroli —, we're, Louis, It's, Rosenberg Research's David Rosenberg, Piper Sandler's Michael Kantrowitz, Greg Boutle, Tom Lee Organizations: Federal Reserve, — Bank of America's, Crossmark Global Investments, BlackRock, Conference, Federal Reserve Bank of St, Fed, Louis Investors, Deutsche Bank, Bloomberg, BNP, Institute for Supply, Institute for Supply Management, of Labor Statistics Locations: Wells

☆ Arsenal, Newcastle up and running, but reality bites for Luton
▼ + stars: | 2023-08-12 | by ( Martyn Herman | ) www.reuters.com time to read: +4 min

But Forest grabbed a goal back in the 83rd minute through Taiwo Awoniyi and pressed for an unlikely point. ANXIOUS FINISH"Welcome to the Premier League!" Arsenal manager Mikel Arteta said of the anxious finish. "Running the clock down, in this league, that's a very dangerous thing to do but overall I'm very happy." Sheffield United's defeat by Palace completed a poor opening weekend for the promoted clubs after Burnley's loss on Friday.

Persons: Eddie Nketiah, Martin Odegaard, William Saliba, Gabriel Martinelli, David Klein, James ', Eddie Howe's, Sandro Tonali, Moussa Diaby, Alexander Isak, Callum Wilson, Harvey Barnes, Declan Rice, Kai Havertz, Saka, Mikel Arteta, Solly, Joao Pedro, Carlton Morris, Simon Adingra, Evan Ferguson, Bobby De Cordova, Reid, Andreas Pereira, Michael Keane, Stuart Attwell, James Tarkowski, Bernd Leno, Sean Dyche, West Ham, Dominic Solanke, Jarrod Bowen, Andoni Iraola, Odsonne Edouard, Martyn Herman, Pritha Sarkar Organizations: Soccer Football, Premier League, Arsenal, Nottingham Forest, Emirates, REUTERS, Newcastle, Villa, Forest Everton, Fulham, Luton Town's, Hove Albion, Champions Manchester City, Burnley, St, Newcastle United, Aston Villa, Everton, Crystal, Sheffield United . West Ham United, Bournemouth, Gunners, Timber, Football League, Brighton, Luton, Goodison, BBC, Sheffield, Thomson Locations: London, Britain, Brighton, West

☆ ECB to pause in September, say slim majority of economists: Reuters poll
▼ + stars: | 2023-08-11 | by ( Prerana Bhat | ) www.reuters.com time to read: +4 min

There have been nine consecutive ECB rate rises since July 2022. In the poll 37 - or 53% - of 70 economists predict no move at the Sept 14 meeting compared with 47% in last month's poll, which would mean the ECB leaving its deposit rate at 3.75%, in line with market pricing. The poll also showed 53% expecting a deposit rate rise to 4.00% sometime this year, with 33 economists saying September, and four October or December. While markets are priced for a roughly 60% chance of a pause in September, they are split for year-end, with just over a 50% probability of a 4.00 deposit rate by then. However, inflation setbacks could still force a rate hike later this year," said Bas van Geffen, senior macro strategist at Rabobank.

Persons: Christine Lagarde, bloc's, Lagarde, Bas van Geffen, Michael Kirker, Prerana Bhat, Anitta Sunil, Maneesh Kumar, Sarupya Ganguly, John Stonestreet Organizations: European Central Bank, Reuters, ECB, Rabobank, spillovers, Deutsche Bank, Thomson Locations: BENGALURU, Germany, Ukraine, European

☆ Retailers take center stage in the week ahead, as Wall Street turns to the consumer for a much-needed boost
▼ + stars: | 2023-08-11 | by ( Sarah Min | ) www.cnbc.com time to read: +8 min

A raft of economic data and big retail earnings reports next week will give traders insight into the strength of the consumer after a mixed batch of inflation data. "Next week is all about the consumer," said Shannon Saccocia, investment chief at NB Private Wealth. The Nasdaq Composite fell for a second straight week for the first time in 2023 after mixed inflation data this week, as well as Moody's downgrading several regional banks. July's consumer price index came in weaker than expected, but continued to show some underlying stickiness. Housing data expected to show strength Investors will also watch data on what has been a strong housing market.

Persons: Shannon Saccocia, Saccocia, —, we've, John Porter, it's, Wealth's Saccocia, Kate Spade, Stuart Weitzman, Versace, Jimmy Choo, Michael Kors, That's, Sam Stovall, Stovall, CFRA's Stovall, Estee Organizations: Home Depot, Walmart, Federal Reserve, Nasdaq, Dow Jones, Newton Investment Management, FactSet, . Discount, TJX Companies, Ross, Homeowners, Price, Retail, Health, Home, Agilent Technologies, Housing, Manufacturing, TJX, Target, Cisco Systems, Philadelphia Fed, Applied, Deere, Co, Companies, Palo Alto Locations: U.S, NAHB, Housing States

American luxury-goods companies have long wanted to build a multibrand rival to take on the European giants that dominate the industry. Tapestry and Capri said the deal could lower their costs by $200 million over the next three years. Tapestry is taking on a lot of debt via an $8 billion bridge loan — the largest M.&A. And Capri depends heavily on Michael Kors, which generates 70 percent of its revenue. By comparison, Versace, Capri’s only real luxury brand, accounts for just a fifth of sales.

Persons: Kate Spade, Michael Kors, Versace, Tapestry, Salvatore Ferragamo, They’ve, Capri, Capri’s Organizations: Burberry, Street

☆ Ukraine has captured so many weapons that Russia is 'competing with Western countries' to supply it with arms, Ukrainian colonel says
▼ + stars: | 2023-08-11 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +3 min

That includes 800 pieces of artillery, tanks, and other vehicles, Deutsche Welle reports. "Russia is competing with Western countries to supply weapons to Ukraine," Col. Oleksandr Saruba told Deutsche Welle. Ukraine has been making use of captured weapons and armor since the outset of the war — in March 2022 it announced that it had captured 24 Uragan missiles and had aimed them back at the enemy. Despite the constant work of Ukrainian repair shops, some captured vehicles use modern parts that aren't manufactured in Ukraine, which still relies heavily on Soviet-era tanks. This has caused the loss of a sizable chunk of the Western-supplied vehicles Ukraine has deployed, leading to a shift in tactics, multiple reports say.

Persons: Col, Oleksandr Saruba, Saluba, Deutsche Welle, Michael Kofman, Kofman, Valery Zaluzhny Organizations: Deutsche Welle, Service, Grad, Deutsche, Russia, Carnegie Endowment, Washington Post Locations: Ukraine, Wall, Silicon, Russia, Ukrainian, Russian, Ukraine's

☆ Wall Street ends flat, after pop from July inflation data fizzles
▼ + stars: | 2023-08-10 | by ( David French | ) www.reuters.com time to read: +5 min

Stock prices started to sag from late-morning onwards, and bounced between positive and negative territory for much of the afternoon. He noted that while inflation has slowed, a look beyond the headline number revealed that core inflation remained sticky, and as traders parsed the data, the initial positive sentiment became more subdued. A trader works on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 26, 2023. On the earnings front, Walt Disney (DIS.N) rose 4.9% after beating Wall Street estimates for quarterly adjusted profit per share. The S&P 500 posted 18 new 52-week highs and 4 new lows; the Nasdaq Composite recorded 58 new highs and 159 new lows.

Persons: Gregg Abella, Mary Daly, Brendan McDermid, Walt Disney, Michael Kors, Tapestry's, Joe Biden, Bansari Mayur Kamdar, Johann M, David French, Shashwat Chauhan, Shubham Batra, Vinay Dwivedi, David Gregorio Our Organizations: Disney, Dow, Nasdaq, U.S . Federal, Investment Partners, Management, San Francisco Fed, New York Stock Exchange, REUTERS, Nvidia Corp, Alphabet Inc, Microsoft, Dow Jones, Energy, Wall, Alibaba, Wednesday, Thomson Locations: New York City, U.S, China, Bengaluru, New York

☆ Wall Street ends flat, gives up most gains after July inflation data
▼ + stars: | 2023-08-10 | by ( David French | ) www.reuters.com time to read: +4 min

A trader works on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 26, 2023. Data showed headline and core consumer prices both climbed by 0.2% in July, with the headline number notching annual rise of 3.2% and the core up 4.7%. He noted that while inflation has slowed, a look beyond the headline number revealed that core inflation remained sticky, and as traders parsed the data, the initial positive sentiment became more subdued. In separate data, the number of Americans filing new claims for unemployment benefits rose by 248,000 last week, exceeding estimates of 230,000. On the earnings front, Walt Disney (DIS.N) rose after beating Wall Street estimates for quarterly adjusted profit per share.

Persons: Brendan McDermid, Gregg Abella, Mary Daly, Walt Disney, Michael Kors, Tapestry's, Alibaba, Joe Biden, Bansari Mayur Kamdar, Johann M, David French, Shashwat Chauhan, Shubham Batra, Vinay Dwivedi, David Gregorio Our Organizations: New York Stock Exchange, REUTERS, Disney, U.S . Federal, Investment Partners, Management, Francisco Fed, Nasdaq, Treasury, Nvidia Corp, Microsoft, Apple, Dow Jones, Wall, Wednesday, Thomson Locations: New York City, U.S, China, Bengaluru, New York

Buoyed by inflation numbers, traders not only expect the central bank to stop further monetary tightening in 2023, they are also betting the Fed would start cutting interest rates early next year. "Inflation has returned to the good old days where in 2019 we saw an average monthly increase of around 0.2% ... The Fed, therefore, might feel it can pause as planned and not raise interest rates in September," said George Mateyo, chief investment officer at Key Private Bank. The tech-heavy Nasdaq led Wall Street lower on Wednesday, with heavyweight Nvidia (NVDA.O) falling 4.7%, followed closely by the other "Magnificent Seven" megacap stocks that drove this year's stock rally. On the earnings front, Walt Disney (DIS.N) rose 3.2% after beating Wall Street estimates for quarterly adjusted profit per share.

Persons: Brendan McDermid, George Mateyo, Mary Daly, Walt Disney, Michael Kors, Tapestry's, Joe Biden, Bansari Mayur Kamdar, Johann M Cherian, Shashwat Chauhan, Shubham Batra, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Disney, Dow, Nasdaq, Reserve, Key Private Bank, San Francisco Fed, Microsoft, Apple, Nvidia, Dow Jones, Wall, Alibaba, Wednesday, NYSE, Thomson Locations: New York City, U.S, China, Bengaluru

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