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☆ Markets close sharply lower as bank stocks take a beating
▼ + stars: | 2023-03-09 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +1 min

That triggered losses across the banking sector and concern that the Federal Reserve’s interest rate hikes are preventing banks from raising capital. Bank stocks fell by their largest levels in nearly three years on Thursday, bringing all three major indexes down with them. Shares of JPMorgan Chase dropped by 5.4%, Bank of America fell 6.2%, Wells Fargo was down 6.2% and Citigroup was 4.1% lower. Now, as the Federal Reserve hikes rates to fight inflation, those bonds are worth much less and banks are sitting on the losses. For SVB, which said it is partnered with nearly half of all venture-backed tech and health care companies, cash-hungry startups are feeling the pinch.

☆ Frontier countries to suffer most if Fed rate gets to 6% - analysts
▼ + stars: | 2023-03-09 | by ( Rodrigo Campos | ) www.reuters.com time to read: +5 min

"This mix is generally a net negative for emerging markets." A recent Barclays analysis showed a 50 basis point Fed rate hike would increase interest rate volatility, which "would be more destabilizing initially, as it typically comes with EM FX underperformance, which could trigger a further leg up in EM rates." Analysts at JPMorgan expect the dollar to weaken once the terminal rate stabilizes, but a 50-basis point Fed hike "would be a regime-shift in favor of outsized USD-strength." A 6% Fed rate environment alongside still-hot inflation does make short-term rates in Chile and India as well as Poland, the Czech Republic and Hungary most vulnerable, UBS found. Chinese equities could provide a safe haven in a 6% fed funds rate scenario, UBS said.

☆ M&A bankers trip over their cracked crystal balls
▼ + stars: | 2023-03-08 | by ( Liam Proud | ) www.reuters.com time to read: +7 min

The M&A pipeline generally has three components: announced deals that are almost certain to happen; announced deals that may not get over the line; and deals that have neither been announced or perhaps even conceived. Reuters GraphicsThere’s a much tighter relationship between equity markets and M&A, implying that CEOs pursue corporate marriages when their share prices are high. One common way to get around this problem is to look at the value of announced deals as a percentage of total worldwide market capitalisation. WEAKNESS IN NUMBERSUnsurprisingly, given all the uncertainty, some bankers take their pipeline estimates with an appropriately large pinch of salt. Reuters GraphicsFollow @liamwardproud on TwitterCONTEXT NEWSCompanies announced $3.6 trillion of mergers and acquisitions in 2022, according to Refinitiv, compared with $5.7 trillion in 2021.

☆ Spring training roundup: Mets win Kodai Senga’s debut start
▼ + stars: | 2023-03-06 | by ( ) www.reuters.com time to read: +6 min

Cardinals catcher Tres Barrera was responsible for the only hit and run Senga allowed, a solo shot to left in the second. Francisco Lindor and Pete Alonso hit solo home runs and Tim Locastro hit a pair of RBI doubles and scored on a throwing error for New York. The Rays got their two runs from solo homers by Jose Siri and Randy Arozarena. Jake Rogers hit his third home run of spring training for the Tigers. The Athletics, who have flirted with a move to Las Vegas, played a two-game spring training series this weekend at Las Vegas Ballpark.

☆ As Social Security reform talks heat up, changes to the retirement age, payroll tax may be on the table
▼ + stars: | 2023-03-04 | by ( Lorie Konish | ) www.cnbc.com time to read: +5 min

A recent Congressional Budget Office report projected Social Security's combined funds may run out in 2033, two years sooner than the Social Security actuaries estimated last year. Raising retirement age may be a 20% benefit cutThe Social Security full retirement age is gradually changing to 67, based on changes enacted in 1983. Lawmakers are considering raising the full retirement age again to age 70. Current beneficiaries and near retirees would likely be spared from any retirement age changes. Warren and Sanders are calling for reapplying the Social Security payroll tax to income over $250,000, while also taxing certain business and investment income at 12.4%.

☆ Americans are about to put the brakes on spending, and that's got Wall Street analysts on alert. Here's why, and what it means for stocks.
▼ + stars: | 2023-03-04 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +6 min

Here's why spending is likely to slow down, and why it could mean more turmoil for markets. Retailers and others believe that consumer expenditure is likely to fall, after kicking off the first weeks of 2023 on the rise. Meanwhile, the Fed's preferred PCE inflation gauge showed a 1.8% jump in consumer expenditure that month, compared with December. It's fair to say most analysts weren't expecting consumer spending data to be so resilient in January — and some suggest those figures might be overblown. A dip in consumer spending might signal the beginning of a sustained drop in demand in the US.

☆ The US dollar is at a crossroads
▼ + stars: | 2023-03-02 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

New York CNN —Wall Street investors are reaching for their neck braces in preparation for yet another volatile swing in stock markets: A surging US dollar. What’s happening: The US dollar “finds itself at a significant crossroads yet again,” said Krosby. Don’t forget the debt ceiling: Another significant threat to the dollar is looming in Congress — the ongoing debt ceiling fight. “It would certainly undermine the role of the dollar as a reserve currency that is used in transactions all over the world. Initial claims have come in lower than expected in recent weeks and remain well below their pre-pandemic levels.

Summary This content was produced in Russia, where the law restricts coverage of Russian military operations in Ukraine. MOSCOW, March 2 (Reuters) - Russia's central bank said on Thursday that it would extend capital controls affecting foreign currency withdrawals and transfers abroad, warning that some economic sectors continued to feel the pinch from sanctions despite their resilience. The central bank and the government responded with sweeping capital controls, including a ban on sending foreign currency abroad to shore up the rouble and stabilise its banking sector. Russia's economy has proved remarkably resilient in the face of tough Western sanctions, but analysts still predict a 1.9% drop in economic output in 2023, after an estimated 2.1% slide in 2022. Those sanctioned last week have responded in a largely relaxed manner, with some saying disruption will be limited and others restricting foreign currency transactions or suspending euro trading on brokerage accounts.

☆ I made $1.7 million in revenue on Fiverr in under 2 years. Freelancers can thrive in a dicey economy — here's what's worked for me.
▼ + stars: | 2023-03-01 | by ( Georgia Austin | ) www.businessinsider.com time to read: +7 min

Austin made $20,000 a month by herself on Fiverr before hiring freelancers to help meet the demand. I started freelancing on Fiverr right before the pandemic hit and made $1.7 million in revenue over the following 17 months. Freelancers who see increasingly sophisticated AI content as an opportunity, not a threat, will come out on top this year. We're still unsure whether Google will rank or penalize AI content — something that will ultimately define its success. But, as with any quickly developing industry shift, freelancers must stay agile and informed to react, adapt, and take advantage of the unfolding changes.

☆ Spring training roundup: Pirates, O’s play unneeded bottom of 9th
▼ + stars: | 2023-03-01 | by ( ) www.reuters.com time to read: +5 min

Orioles catcher Maverick Handley called balls and strikes thrown by teammate right-hander Ofreidy Gomez during the half inning. The Pirates opened a 5-0 lead before the Orioles put up four runs across the fifth and sixth innings, thanks in part to Franchy Cordero's two-run home run. Kevin Pillar had a two-run homer and an RBI single to power the Braves' offense. Phillies 7, Blue Jays 2Trea Turner hit a two-run single and finished 2-for-3 with a run as host Philadelphia took care of Toronto in Clearwater, Fla. Jace Peterson cracked a three-run homer for the Athletics.

☆ I started selling shoes on Goat to fund my sneaker addiction. Here's why I prefer it to Poshmark despite the high fees.
▼ + stars: | 2023-02-28 | by ( Danni Santana | ) www.businessinsider.com time to read: +8 min

I started reselling used sneakers in the summer of 2022 to more easily afford my sneaker addiction. In other words, I started monetizing my used sneaker collection for extra cash to buy new shoes. But I'm keeping my options open, especially if StockX begins to allow the sale of used shoes. I'll certainly take advantage of their periodic promotions on seller fees that I've seen be up to 50% off in the past. The platform offers an easy way to sell shoes quickly that you barely wear or have buyer's remorse over.

☆ Medical tourism looking sickly as patients watch their spending
▼ + stars: | 2023-02-27 | by ( Joanna Plucinska | ) www.reuters.com time to read: +5 min

"People are more cautious," Knott told Reuters, staring at the empty building across the street from his existing Kreativ Dental clinic. Rising air fares and fewer flights - and the memory of last summer's travel chaos - are also putting off would-be patients, clinic operators and analysts told Reuters. A hip or knee replacement at Nordorthopaedics in Lithuania is about 15% more expensive now than five years ago, the clinic told Reuters. Lyfboat, an Indian company providing medical services for foreign patients, told Reuters it has collaborated with a fundraising platform called ImpactGuru to help patients pay for essential surgeries. ACUTE VS ELECTIVEThe International Medical Travel Journal, published by market intelligence service LaingBuisson, estimates the medical tourism market is currently worth around $21 billion, less than pre-pandemic, although editor Keith Pollard warned data is poor.

☆ Inflation is doing a crab walk and Fed officials fear its pinch
▼ + stars: | 2023-02-26 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

Some background: The Covid-19 crisis triggered a sudden shift in student loan policy and a new openness to forgiveness. About 40% of those with federal student loan debt would have a zero balance; even more would have a much smaller monthly payment. But, “if payments resume without debt relief, we expect both student loan default and delinquencies to rise and potentially surpass pre-pandemic levels,” warned Fed researchers. Those missed payments suggest that some federal student loan borrowers are having trouble meeting their monthly debt obligations. “We expect these delinquency patterns to worsen if federal student loan payments resume without relief,” said the report.

☆ 'Stubborn' food inflation leaves U.S. shoppers with slim appetite for other goods
▼ + stars: | 2023-02-23 | by ( Siddharth Cavale | ) www.reuters.com time to read: +4 min

Higher prices on food led to soft sales of electronics, toys, home and apparel in the most recent quarter at Walmart. McMillon said he believed inflation on dry groceries and items made for immediate consumption would remain high "for a while". "Food inflation has been the most stubborn of all the categories," Walmart's U.S. CEO John Furner said. Sharp sales declines in categories other than food are forcing retailers like Target (TGT.N) to slash prices on everything from toys to electronics. While groceries comprise 56% of Walmart sales, they make up about 20% of sales at Target, which depends more on home furnishings, apparel and beauty.

☆ CNBC Daily Open: Markets took a beating — and there may be worse ahead
▼ + stars: | 2023-02-22 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

Markets had their worst day in three months. This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Some analysts think stocks are facing the reality of higher interest rates —a scenario the bond market has priced in. Subscribe here to get this report sent directly to your inbox each morning before markets open.

☆ A CIO who helps oversee $98 billion details how to invest in the winners of China's reopening in an environment where the wider stock market will struggle to break even for the rest of the year
▼ + stars: | 2023-02-22 | by ( Lisa Kailai Han | ) www.businessinsider.com time to read: +6 min

Jimmy Chang, the CIO of Rockefeller Capital Management, believes the best case scenario for stocks in 2023 is to trade sideways. Despite this, he says there's ample opportunities to be found as the Chinese economy reopens. He defines "old economy" stocks as those in more traditional industries like industrials and commodities, as well as those that directly benefit from global aging demographics, such as healthcare and life sciences. While utilities and consumer staples stocks are also typically more recession-proof, Chang believes that valuations are currently too high for both sectors. "I would rather participate in this Chinese rebound through the resource market, for example, owning commodities," he explained.

☆ Household budgets are shredded: These stocks will benefit as consumers trade down to store brands
▼ + stars: | 2023-02-14 | by ( Michelle Fox | ) www.cnbc.com time to read: +12 min

Shoppers are largely creatures of habit, but after two years of rising prices, a broader shift to private label brands is underway. 'A tailwind' for private label That is good news for store brands, otherwise known as private label. Yet the biggest pure play on private label brands is Treehouse Foods , Chappell said. "That's where you're going to see them lean into store brands," said Mary Ellen Lynch, principal of IRI's center store solutions. Americans forced to trade down due to supply chain constraints found store brands they enjoyed, she said.

☆ Coca-Cola forecasts upbeat annual profit on steady demand, price hikes
▼ + stars: | 2023-02-14 | by ( Ananya Mariam Rajesh | ) www.reuters.com time to read: +2 min

Shares of the company rose about 1% in premarket trading. Average selling prices rose 12% in the fourth quarter, the maker of Sprite and Fanta said, while unit case volumes slipped 1%. Last week, PepsiCo said it would not raise prices of its sodas and snacks further after multiple rounds of price hikes last year. The company sees 2023 organic revenue growth of 7% to 8%. The beverage maker's fourth-quarter net revenue rose 7% to about $10.1 billion compared with estimates of about $10 billion.

☆ Are we on the brink of a corporate credit crisis?
▼ + stars: | 2023-02-13 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +9 min

Economists at S&P Global Ratings forecast that speculative-grade (perceived to have a lower level of credit quality compared to more highly rated, investment-grade, companies) corporate default rates in the US and Europe will double this year alone. So are we on the brink of a corporate credit crisis? Before the Bell spoke with Ruth Yang, managing director and global head of thought leadership at S&P Global Ratings to discuss what lies ahead for the corporate credit market. Before the Bell: What’s your big picture view of the credit economy right now? There will be slower growth with thinner margins and that’s going to change how people look at their investment opportunities.

☆ Analysts see short-term strength, long-term 'generational shift' in copper prices
▼ + stars: | 2023-02-13 | by ( Elliot Smith | ) www.cnbc.com time to read: +4 min

Sheets of copper cathode are pictured at BHP Billiton's Escondida, the world's biggest copper mine, in Antofagasta, northern Chile March 31, 2008. Ivan Alvarado | ReutersAlong with experiencing a short-term supply shortage, copper is set to undergo a "generational shift" in demand as decarbonization ramps up, according to BNY Mellon Lead Portfolio Manager Al Chu. Short-term supply issues have also emerged alongside a rebound in demand, such as an eruption of protests in Peru, which accounts for 10% of the world's copper supply. Every renewable energy pretty much needs copper, because if you're talking about electrifying something and transmitting electricity, you need copper." "When you look at the long-term secular story, you can just see strong demand.

☆ 'Suite Life of Zack and Cody' star Brenda Song opened up about trying to make it in acting as a kid: 'We had no money'
▼ + stars: | 2023-02-12 | by ( Eboni Boykin-Patterson | ) www.businessinsider.com time to read: +5 min

Brenda Song famously played London Tipton on "The Suite Life of Zack and Cody." Song opened up about what life was like as a child actor back then, and how her family helped. While Song had a supportive immediate family as a child actor, she opened up in an interview with Glamour about some of the struggles she faced in pursuing her childhood dream. "I have a very different experience as a child actor," Song said, "My mom had me at 17 and my dad was a teacher and still in school. That year my mom got diagnosed with breast cancer, and I booked "The Suite Life of Zack and Cody" and got accepted to Harvard University, all within a few weeks."

☆ Key inflation data in the week ahead will offer clues to future Fed rate moves and the market's path
▼ + stars: | 2023-02-11 | by ( Zev Fima | ) www.cnbc.com time to read: +8 min

Looking forward The January consumer price index (CPI) , which calculates the average change over time in prices that shoppers pay for goods and services, is slated for Tuesday. Economists and investors will use the number to gauge the odds of a soft landing or hard landing for the economy. The producer price index (PPI) for January, which calculates the change in selling prices received by producers of goods and services, is out on Thursday. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

You can add multiple photos to any Instagram Story or post. Instagram gives you several different ways to add multiple photos at once to an Instagram Story. Add multiple photos to an Instagram StoryThe simplest way to add multiple photos to an Instagram Story is to use the Select button to choose up to 10 photos and videos that will play one after the other, like a slideshow. Layer photos in a Story using stickersYou can use stickers to add multiple photos to a Story. Check out third-party appsWhile Instagram offers a slew of ways to add multiple photos to a post or Story, you might yet be looking for more options.

Macroeconomic pressures have begun to hurt American consumers, particularly those in the lower income bracket, but PayPal's customers continue to spend largely undeterred by decades-high inflation. Even so, the company's upbeat forecast comes alongside its previously announced commitment of lowering expenses in the backdrop of its key e-commerce segment feeling the pinch of a slowdown. Inflationary pressures have affected discretionary consumer spending and post-COVID spending patterns are still evolving," acting finance chief Gabrielle Rabinovitch said in a call with analysts. In a divergence from prior quarters, PayPal said it will not provide a forecast for full-year revenue growth. PayPal said it expects full-year adjusted profit of roughly $4.87 on a per share basis.

Feb 9 (Reuters) - PayPal Holdings Inc (PYPL.O) forecast full-year profit above Wall Street estimates on Thursday and said Chief Executive Dan Schulman will retire at the end of 2023, after nearly eight and a half years at the payment firm's helm. PayPal said it expects full-year adjusted profit of roughly $4.87 on a per share basis. PayPal earned a profit of $1.24 per share on an adjusted basis in the fourth quarter ended Dec. 31, beating analyst estimates of $1.20 per share. PayPal was one of the biggest winners during the COVID pandemic when people locked at home used its platform while shopping online. Reporting by Manya Saini and Jaiveer Shekhawat in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

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