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It's time to buckle up: Investors holding these stocks could be in for a wild ride this week. A review of companies set to report earnings this week shows that some names may post sharp moves following their results, according to CNBC calculations based on FactSet data. For example, Snap , which reports Tuesday, could see its stock price move up or down about 17% following the news. Here are some other stocks that may move the most in response to news this week. Affirm , the buy now, pay later financial services company, could move up or down 15% following its earnings results, which are set for release Thursday.
Persons: John Butters, Morgan Stanley Organizations: CNBC, Ford Motor, Walt Disney Company, PepsiCo, Spirit Airlines, Palantir Technologies
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. In today's big story, we're looking at why this is such a big week for the stock market . The big storyA week to rememberThree trends in the stock market are bound to vault equities higher in 2024, Wall Street strategists say. Getty ImagesWe're less than a month into 2024, but this week could determine the market's trajectory for the rest of the year. Tim Cook AppleThe information overload comes amid an uncertain time for Big Tech and the broader stock market.
Persons: , Netflix's, it's, Matthew Fox, Jerome Powell's, Tim Cook, Tesla, haven't, we'll, Fundstrat's Tom Lee, Read, Jamie Dimon, Larry Downing, Jennifer Piepszak, Marianne Lake, Troy Rohrbaugh, Jeffrey Gundlach, Buckle, Mohamed El, isn't, Erian, Lyra, Maven, Tyler Le, Liquidators, Max Organizations: Service, Business, Wall, Big Tech, Microsoft, Fed, Apple, Nvidia, Meta, Google, optimist, JPMorgan, DoubleLine, Prime, Comcast, Warner Bros, Lyra Health, Hong, Alaska Airlines Locations: India, Japan, Hong Kong, China, Alaska
CNN —How do you begin to talk about something as seemingly frivolous as haute couture fashion against the tumult of today? The bi-annual couture shows in Paris are a showcase of bold ideas from the best fashion designers working today, crafted by some of the world’s most skilled artisans. Practical pockets, but make it Chanel coutureA delicate sheer pocket seen at Chanel's haute couture show. ValentinoWhile there was razzamatazz on the front row courtesy of Stormi Webster, Kylie Jenner’s five-year-old daughter, who made her front row debut, Valentino’s couture collection incarnation was relatively understated. Raw elegance at Maison MargielaJohn Galliano's couture collection for Maison Margiela was fantastical and theatrical, fittingly taking place under the first full moon of the year.
Persons: Chanel, , Schiaparelli, Giovanni Giannoni, Jennifer Lopez, Zendaya, Pat McGrath, Pascal Le Segretain, Margaret Qualley, Pieter Mulier, Valentino, Stormi Webster, Kylie Jenner’s, Gaurav Gupta Gaurav, Thomas Samson, Guarav Gupta, Kim Jones, Karl Lagerfeld's, Peter White, Karl Lagerfeld’s, Victor Virgile, Maison, Maison Margiela John Galliano's, Maison Margiela, Gao Jing, John Galliano, Gwendoline Christie, John Galliano's, Martin Margiela, Gwendoline Christie sauntering Organizations: CNN, Paris Couture, Spring, Petit Palais, Maison Margiela, Zuma Press Locations: Paris, Chanel, AFP, Xinhua
Nearly 70 S & P 500 companies are slated to report earnings this week. Of the roughly 52 S & P 500 companies that have reported, just 69% have beaten earnings expectations, according to FactSet. What history shows: Bespoke Investment Group data shows United beats earnings expectations 70% of the time. What history shows: Bespoke data shows Netflix exceeds earnings estimates 81% of the time. What history shows: Bespoke data shows Alaska Air tops bottom-line estimate 72% of the time.
Persons: Buckle, Leslie Josephs, Max, Procter & Gamble, Robert Ottenstein, Procter, headwinds, Trian's Nelson Peltz, , Alan Gould, Jordan Novet, Tesla, TSLA, Elon Musk, Elon, Jefferies, Philippe Houchois, INTC, Timothy Arcuri Organizations: Netflix, Intel, Investors, CNBC, Monday United Airlines, Boeing, Max, Alaska Airlines, FAA, Procter &, Procter, Gamble, HBO, IBM, ISI, Alaska Air Group, Alaska Air, Nvidia, AMD, UBS Locations: Alaska, U.S, China, Europe
PARIS (AP) — In a dazzling universe where high-art, fashion and celebrity collide, Jonathan Anderson’s latest collection for Loewe explored modern masculinity, set against the backdrop of our social media-saturated world. Amidst the audience, actor Jamie Dornan was spotted, amusedly gazing at fleeting images of himself woven into pulp fiction video collages that spanned from paparazzi shots to art history and social media. LOEWE’S SOCIAL MEDIA COLLAGECentral to this digital-age collection was the theme of divergence. Anderson skillfully eschewed the idea of one single aesthetic, presenting a full, fabulous collage of social media characters, each uniquely styled — and seemingly caught off-guard, as they might be by the lens of TMZ or Us Weekly. His latest display shows how the ever-evolving dynamics of social media and celebrity are reshaping modern masculinity.
Persons: Jonathan Anderson’s, Loewe, Richard Hawkins, Jamie Dornan, Anderson, Hawkins, HERMES, Hermès, Prince, Nichanian Organizations: PARIS, MEN Locations: Wales
Young people are mocking the "corporate accent" on TikTok and racking up millions of views. The corporate accent is a passive aggressive, professional tone of voice used to convey confidence. The term "corporate accent" was coined by TikToker Lisa Beasley who plays a character called "Corporate Erin" in her videos and is racking up millions of views on the platform. One TikToker, inspired by Corporate Erin, explained what the corporate accent actually is . AdvertisementThe corporate accent is also a commentary on the hustle culture embedded in corporate environments where your role is expected to become your identity.
Persons: , TikToker Lisa Beasley, Erin, Lisa Beasley, Erin Kenney, girlboss, Kenney, it's, millennials, They're, Hannah Shirley, Zer Organizations: Service, Management Locations: Udemy
Coming off a wonderfully surprising stock market global boom of 2023, this year could be anybody's guess. Utility-scale solar projects are growing around the world, and Wall Street firm T.D. There is too much money chasing solar projects, someone has to win. Here's the thinking for 2024: global oil demand is going to grow, but given China's rolling economic pain it may increase by less than some expect. Russia remains robust on global markets despite sanctions, and OPEC may have done most of what it can to keep its member and allies production levels lower to balance out global markets.
Persons: Brendan Mcdermid, I'm, there's, we've, SolarEdge, T.D, Cowen Organizations: New York Stock Exchange, NextEra Energy Partners, SolarEdge, Investors, U.S, Nat, Citigroup Locations: New York City, U.S, Brazil, Guyana, Russia, OPEC, China, Saudi Arabia
BANGKOK (AP) — Shares fell Tuesday in Asia, with Hong Kong’s benchmark down nearly 2%, as jitters over Chinese markets dimmed confidence across the region. Tokyo’s Nikkei 225 index fell, snapping a New Year’s winning streak that took it to its highest level in 34 years. The dollar weakened against the Japanese yen even as a former central bank official said that the Bank of Japan is preparing to end its longstanding negative interest rate policy. The dollar bought 146.12 yen, up from 145.75 late Monday and at its highest level in more than one month. Traders are largely betting on the Fed cutting its main interest rate six or more times through 2024.
Persons: , Meituan, Kristalina Georgieva, Kospi, Germany's DAX, It's, Brent Organizations: Dow Jones, Nikkei, Bank of Japan, Federal Reserve, Tencent, China Garden Holding, Ocean, IMF, CNBC, CAC, Traders, Fed, New York Mercantile Exchange Locations: BANGKOK, Asia, U.S, Shanghai, China, Beijing, South, Australia, Paris
HONG KONG (AP) — Asian shares were mostly higher on Monday, with Tokyo extending its New Year rally, as China’s central bank kept its one-year policy loan interest rate unchanged. China’s central bank opted to keep its one-year policy loan interest rate at 2.5% on Monday while injecting funds into the financial system. Traders are largely betting on the Fed cutting its main interest rate six or more times through 2024. The airline and other travel-related companies were also hurt by a rise in oil prices, which put pressure on their fuel costs. A barrel of benchmark U.S. crude oil rose 10 cents to $72.78.
Persons: Zhaopeng Xing, Raymond Yeung, , Ernie, Baidu, Lai Ching, Lai, Taiwan’s Taiex, Australia’s, It's, Yemen’s Houthi, Brent Organizations: ANZ, Baidu, Democratic Progressive Party, Dow Jones, UnitedHealth Group, Nasdaq, Federal Reserve, Treasury, Traders, Fed, Delta Air Lines, United Airlines, Cruise Line Holdings, U.S Locations: HONG KONG, Tokyo, Hong Kong, Shanghai, South Korea, China, Taiwan
AdvertisementA new batch of wealthy vacationers will check into the lavish White Lotus resort when HBO's "The White Lotus" returns for season three. The new cast includes Carrie Coon, Jason Isaacs, and Michelle MonaghanFrom left: Carrie Coon, Jason Isaacs, and Michelle Monaghan. AdvertisementMike White described the new season as 'supersized'Meghann Fahy, Theo James, Aubrey Plaza, and Will Sharpe on season two, episode five of "The White Lotus." "It's going to be a supersized 'White Lotus,'" White told Entertainment Weekly in November. Season 3 will likely be released in 2025Aubrey Plaza on season two, episode one of "The White Lotus."
Persons: Natasha Rothwell, Belinda, Carrie Coon, Jason Isaacs, , Mike White's, Thailand Sabrina Impacciatore, Valentina, White, Belinda Lindsey Natasha Rothwell, Jennifer Coolidge, Tanya, Mario Perez, HBO Rothwell, Jennifer Coolidge's, Tanya McQuoid, Rothwell's, Wonka, " Rothwell, Michelle Monaghan, Evan Agostini, Scott Garfitt, Jordan Strauss, Leslie Bibb, Dom Hetrakul, Harry Potter, Parker Posey, Beau, Tayme Thapthimthong, Mike White, Meghann Fahy, Theo James, Aubrey Plaza, Will Sharpe, Aubrey, Fabio Lovino, Max, Casey Bloys, Koh Organizations: Service, White, Variety, HBO, LA, AP HBO, Entertainment, WGA, SAG Locations: Thailand, Hawaii, Sicily, Italy, Asia, Koh Samui, Phuket, Bangkok
Buy now, pay later plans gained popularity in 2023 as an alternative to high-interest credit cards. Buy now, pay later use surged recently and those bills are now dueThe use of buy now, pay later plans skyrocketed during the 2023 holiday season. According to Adobe, which tracks online sales, buy now, pay later plans use was up 47% on Black Friday and 43% on Cyber Monday. According to PYMNTS' survey, 39.6% of respondents used buy now, pay later plans for clothing and accessories and 33.7% used them for groceries. Buy now, pay later debt can be advantageous if used correctly.
Persons: , Rather, Peter Cade, PYMNTS, Tim Quinlan, Shannon Seery Grein, Selcuk, Mark Luschini, Janney Montgomery Scott, Maria Bartiromo, Luschini, Warren Buffett, Buffett, I've Organizations: Service, Federal Reserve Bank of Philadelphia, Adobe, Household Economics, Science Research Network, Economic, Anadolu Agency, Getty, Wells, US Locations: Wells Fargo
CNN —One of the first things you learn in driver’s ed is, after you buckle your seatbelt, adjust your mirrors. It’s not some fancy new video mirror system. One quirk of mirrors, as opposed to video displays, is that when your head moves, the image you see in the mirror shifts, too. So, if you lean forward in your seat, the side mirrors show you a different view of what’s on either side of your car. The system could also be used to simultaneously adjust the driver’s seat, according to VinFast.
Persons: Vinfast, It’s, MirrorSense Organizations: CNN, United, Kia, Hyundai, Consumer Electronics Locations: Las Vegas
After several years of big swings in the market and the U.S. economy, investors may want to buckle down and focus on individual stocks rather than make bold predictions about 2024. A resilient economy in 2023 proved widespread projections of an imminent recession wrong, and the economic consensus is murkier heading into the new year. That scenario of an economy exiting a recession seems far away as the calendar turns to 2024 with the U.S. labor market still growing. And quality stocks showed in 2023 that they can have solid performance even if growth is what leads the market. Shifting to high quality stocks can give investors a measure of defense in their portfolio without piling into cash.
Persons: Tony DeSpirito, DeSpirito, Seder, George Mateyo Organizations: Wall, BlackRock, CNBC, Key Private Bank Locations: U.S
Meta's top AI scientist urged Mark Zuckerberg to make a ChatGPT rival, the New York Times reports. Yann LeCun warned that Facebook and Instagram could potentially go extinct if Meta didn't act. If Meta didn't buckle down on its AI efforts, Facebook and Instagram could go extinct, LeCun warned, according to the report. "I have been thinking about what you said," the CEO told LeCun during a dinner that evening, a person familiar told the Times. Meta didn't immediately reply to Business Insider's request for comment from Zuckerberg or LeCun.
Persons: Mark Zuckerberg, Yann LeCun, Meta, , OpenAI, Zuckerberg, Instagram, LeCun, Meta didn't, Josh Hawley of, Richard Blumenthal, Meta wasn't, OpenAI —, didn't, Paris Hilton, Snoop Dogg Organizations: New York Times, Facebook, Meta, Service, Times, 4chan, Tech, Google, Microsoft, Paris Locations: Menlo Park , California, Josh Hawley of Missouri, Connecticut
LOS ANGELES (AP) — Ten of the best songs of the year, as determined by Associated Press Music Writer Maria Sherman, in no particular order. “Monaco,” Bad BunnyBad Bunny’s 2023 album, “Nadie Sabe Lo Que Va a Pasar Mañana,” is a reclamation of his past sound, the hard-hitting rap that preceded his mainstream superstardom. And it is part of the reason why his 2023 single and first No. “OMG,” NewJeansIn 2023, girl groups dominated the K-pop conversation. At the fore is NewJeans, with their Y2K-nostalgic sound that pulls from the turn of the millennium's R&B and pop music.
Persons: Maria Sherman, Victoria Monét Buckle, Victoria Monét, Ariana Grande, Chloe x Halle, Monét’s, doesn’t, , , ” Miley Cyrus, Miley Cyrus ’, ” PinkPantheress, PinkPantheress, Leo ”, What’s, ” Zach Bryan, Zach Bryan, ” Paramore Long, Paramore, Hayley Williams, “ Rush, ” Troye Sivan, Sivan, Laura Les, Dylan Brady, NewJeans, ” Danny Brown Danny Organizations: ANGELES, Associated Press, Fifth Harmony, Bronx Locations: , “ Monaco, Monaco, The Tennessee, Australian
Many are delaying the cost as buy now, pay later programs are expected to have their biggest month ever. Many are paying via "buy now, pay later" platforms such as Klarna or Afterpay, which let shoppers pay in installments every week or month. Buy now, pay later also allows people to borrow less expensively as they get the pricing interest-free if paid off in time. Indeed, the Fed's "2022 Survey of Household Economics and Decisionmaking" found that 83% of respondents paid off their buy now, pay later programs on time. Compounding the problem is that people tend to spend more when using buy now, pay later programs, suggesting an overconfidence in what they can afford.
Persons: , Salesforce, Beryl Tomay, Klarna, Mark Luschini, Janney Montgomery Scott, Maria Bartiromo, Luschini, Michael Landsberg, Landsberg Bennett, Kraig, Foreman Organizations: Black, Service, Adobe, Mastercard, CNBC, Business, Federal Reserve Bank of Atlanta, Household Economics, Social Science Research Network, Wealth Management Locations: Landsberg
Many are delaying the cost as buy now, pay later programs are expected to have their biggest month ever. Many are paying via "buy now, pay later" platforms such as Klarna or Afterpay, which let shoppers pay in installments every week or month. Buy now, pay later also allows people to borrow less expensively as they get the pricing interest-free if paid off in time. Indeed, the Fed's "2022 Survey of Household Economics and Decisionmaking" found that 83% of respondents paid off their buy now, pay later programs on time. Compounding the problem is that people tend to spend more when using buy now, pay later programs, suggesting an overconfidence in what they can afford.
Persons: , Salesforce, Beryl Tomay, Klarna, Mark Luschini, Janney Montgomery Scott, Maria Bartiromo, Luschini, Michael Landsberg, Landsberg Bennett, Kraig, Foreman Organizations: Black, Service, Adobe, Mastercard, CNBC, Business, Federal Reserve Bank of Atlanta, Household Economics, Social Science Research Network, Wealth Management Locations: Landsberg
Some experts think the combination of high housing costs, rising credit card debt and shrinking savings could mean the end of post-Covid splurges, maybe even as soon as this year’s holiday shopping season. Here are the pressures consumers are facing that could cause a spending slowdown. Keeping up with high prices not only has led to more credit card debt, but also more consumers are falling behind on the payments. Since the first quarter of 2022, the rate of newly serious delinquent credit card debt has risen roughly 90%. And that would mean Americans may be forced to finally pull back on their post-Covid spending spree.
Persons: , , Erik Lundh, Freddie Mac, ” Lundh, Lundh, they’ve Organizations: Conference, Intercontinental Exchange, ICE, New York Federal Reserve, Social Security Administration, San Francisco Federal Reserve, SF Fed, New York Fed, Covid Locations: people’s
Learn moreAlong with other Y2K trends like baggy jeans, baguette bags, and baby tees, UGGs have made a huge resurgence. But just in case you don't have your old shearling boots sitting in your closet from a decade ago, the best Black Friday UGG boot deals are on sale right now. In our review of UGG slippers, we tested some of their popular styles and loved how comfy they were and how warm they kept our feet. You can pick up the trendy Romely Short Buckle Boot at Nordstrom right now for under $100, which is an excellent price for this fashion-forward shoe. If you're interested in other deals on fashion, skincare, and even laptops and home goods, check out our story on the best Black Friday deals.
Persons: Hadid, Zappos Organizations: UGG's, Nordstrom
Economic models buckle under strain of climate reality
  + stars: | 2023-11-22 | by ( Mark John | ) www.reuters.com   time to read: +6 min
But detractors say those numbers are the product of economic models that are not fit to capture the full extent of climate damage. A year earlier, the Trump administration cited similar models to justify replacing the Obama-era Clean Power Plan with one allowing higher emissions from coal-burning plants. At issue are the "integrated assessment models" (IAMs) economists use to draw conclusions on anything from output losses to financial risk or the pricing of carbon markets. Line chart with data from Climate Tracker shows varying predictions of global warming damage as percentage of GDP. "Our main message is: 'Economists, speak to climate scientists and come up with results that make sense'," he said.
Persons: William Nordhaus, Trump, Obama, Isabel Schnabel, Leon Walras, doesn't, Thierry Philipponnat, Steve Keen, Nordhaus, Rupert Thorne, Livio Stracca, Jean Boissinot, Nicholas Stern, Stern, Watch's Philipponnat, Mark John, Barbara Lewis Organizations: Central Bank, Finance Watch, Reuters, Network, Greening, " University College of London, ECB, NGFS, LSE, Grantham Research Institute, European Union, Thomson Locations: Dubai, Paris, Brussels
Hedge fund short sellers have lost $43 billion in recent days as stocks rally, the Financial Times reported. The S&P 500 is on track for its best month since July 2022. With a more than 7% gain in November, the S&P 500 is on pace for its best month since July 2022. AdvertisementThe FT notes that analysts say some hedge funds have had to repurchase stocks to cover their short bets as a "short squeeze" pushed share prices even higher. According to S3 data, bets against technology, healthcare, and consumer discretionary were the most painful for hedge funds.
Persons: , Stocks, Goldman Sachs, Nicholas Colas, Jessica Rabe Organizations: Financial Times, Service, Wednesday Financial, S3 Partners, Federal Reserve, Carnival Corp
Americans are saving lessThe personal savings rate slumped to 3.4% in September. That's well-below the pre-pandemic savings rate, when Americans were stashing away around 7% of their disposable personal income. Consumers aren't planning to splurge this holiday seasonAmericans are less likely to splurge this holiday season than last year. McKinsey & CompanyAmericans are looking less likely to splurge, even as they head into the holiday season. "Hiring for the holiday season is generally done in October, and adding up new jobs created in the BLS-defined holiday season retail sectors in the latest employment report shows that retailers expect a weaker holiday season," Apollo chief economist Torsten Slok said in a note on Tuesday.
Persons: Macquarie, Thierry Wizman, , Wizman, Morgan Stanley, Torsten Slok Organizations: Service, Macquarie Global, New York Fed, Federal Reserve, San Francisco Fed, Conference, Conference Board, McKinsey & Company, McKinsey, Apollo, of Labor Statistics Holiday, Bureau of Labor Statistics, BLS Locations: York
The nominations for the 2024 Grammy Awards will arrive Friday. Nominees will be announced during a video stream live on the Grammy website and the Recording Academy’s YouTube channel at 8 a.m. Pacific/11 a.m. Eastern. Period.”He continued: “What’s not going to happen is we are not going to give a Grammy or Grammy nomination to the AI portion.”There are also three new categories: best pop dance recording, best African music performance and best alternative jazz album. Previously, the general categories were made up solely of the “Big Four” awards: best new artist, as well as album, record, and song of the year. The 2024 Grammy Awards will air Feb. 4 live on CBS and Paramount+ from the Crypto.com Arena in Los Angeles.
Persons: — Buckle, Al ” Yankovic, Jimmy Jam, Jon Bon Jovi, Kim Petras, Samara Joy, Muni, Drake, Savage, , Michelle Williams, Britney Spears, , Harvey Mason, “ What’s Organizations: ANGELES, Recording Academy, Associated Press, CBS, Paramount, Crypto.com Locations: Pacific, Los Angeles
New York CNN —Retailers are projecting slower growth this holiday shopping season as inflation, higher borrowing costs, and the resumption of student loan repayments cause many consumers to pull back. The government reported that strong consumer spending drove the economy to a robust 4.9% annual growth rate in the July-September quarter. Consumer confidence dropped for the third consecutive month despite the booming economy. The resumption of student loan repayments last month after a three-year pause could also impact consumer spending. “Student loan repayments will diminish the already dwindling savings among younger households,” Moody’s said in a report this week.
Persons: Matthew Shay, ” Dana Peterson, “ Consumers, , ” Moody’s, ” Shay Organizations: New, New York CNN — Retailers, National Retail Federation, , Consumer, Conference Board, Consumers Locations: New York, splurging
Fed Meeting, Jobs Report Make for a Spooky Week
  + stars: | 2023-10-30 | by ( Tim Smart | Oct. | At A.M. | ) www.usnews.com   time to read: +5 min
Do policymakers look back to last week’s report that the nation’s economy grew at a 4.9% rate in September, beating expectations? Or this week’s report on job growth for October due out on Friday after the Fed meeting on Tuesday and Wednesday? On Wednesday, the jobs data onslaught begins with private payroll firm ADP reporting its monthly employment survey for October. Political Cartoons on the Economy View All 602 ImagesWednesday also has the Fed announcing its decision on interest rates. These include adjustments to the Fed’s new regime of higher interest rates for a longer period and the government’s fiscal situation that requires a greater level of debt issuance.
Persons: Jerome Powell, ” Sam Bullard, Wells, ” Bullard, ” Chris Diaz, , Louisiana Republican Mike Johnson, Johnson Organizations: Conference Board, Fed, Treasury, Federal, Brown Advisory, Labor Department, McDonalds, Apple, Dow Industrial, Louisiana Republican Locations: Louisiana
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