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Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., March 5, 2024. LONDON — Global dividend payouts to shareholders hit a record $1.66 trillion in 2023, according to a new report by British asset manager Janus Henderson. The Global Dividend Index report, published Wednesday, said payouts rose by 5% year-on-year on an underlying basis, with the fourth quarter showing a 7.2% rise from the previous three months. The banking sector contributed almost half of the world's total dividend growth, delivering record payouts as high interest rates boosted lenders' margins, the report found. "In addition, lingering post-pandemic catch-up effects meant payouts were fully restored, most notably at HSBC ," Janus Henderson's report added.
Persons: Janus Henderson, Wells, Morgan Stanley, Janus Organizations: New York Stock Exchange, LONDON, JPMorgan Chase, Federal, HSBC, BHP, Petrobras, Rio Tinto, Intel Locations: New York City, U.S, British, Wells Fargo, China, Rio
"The V2MOM had nothing about generative AI," Parker Harris, who co-founded the company with Benioff, told CNBC in an interview. Harris, a Salesforce board member and now the technology chief of Slack, which Salesforce bought in 2021, said he'd rather avoid the limelight. Without the Data Cloud, Harris told CNBC, "I think we would have been in a much worse place." He told Benioff he'd redo the plan, the person said. They'll be talking more frequently, as Harris said they're about to kick off weekly meetings on Slack and Salesforce integrations.
Persons: Parker Harris, Marlena Sloss, Marc Benioff, ChatGPT, Benioff, Salesforce, Harris, Slack, he'd, Sam Altman, Noah Berger, Robin, Batman, Frank Dominguez, Dave Moellenhoff, Bobby Yazdani, Larry Ellison, Yazdani, Dominguez, Brett Queener, who's, Queener, Salesforce.com, He's, Ruth Asawa, Josef Albers, Miles Davis, Donald Trump, Jason Alden, Marc, Kara Swisher, David Paul Morris, Adam Selipsky, it's, Stewart Butterfield, Lidiane Jones, Cal Henderson, Benioff's, Parker, Noah Weiss, Denise Dresser, Weiss, Parker Harris emoji, They'll, Salesforce integrations, Stefan Slowinski Organizations: Salesforce, Bloomberg, Getty, CNBC, Google, Microsoft, Middlebury College, Apple, San, San Francisco Bay Area, Metropolis Software, Software, Saba Software, Oracle, San Francisco's Telegraph, YouTube, Facebook, Economic, Salesforce.com Inc, Web, VMware, Employees Locations: San Francisco, Silicon Valley, English, Vermont, North Carolina, San Francisco Bay, Moellenhoff, Kincaid's, Burlingame, San Francisco's, Salesforce, France, Italy, Nantucket, San, Pacific, Davos, Switzerland, Cliff, New York, Las Vegas, Hawaii
… I’m completely done with smart devices like that.”24-year-old Heather Hines is among the Wyze users whose personal camera footage was viewed during a recent security breach. Henderson, who owns 10 Wyze cameras, said he is starting to replace them with other brands. It also raises the question about whether the value of smart devices is worth the risks. Amazon and Google have experienced security breaches with Ring and Nest security devices in recent years. People can also reconsider how many smart devices they actually need in the home.
Persons: Heather Hines, Hines, , “ I’m, ” Hines, I’m, Eddie Henderson, Henderson, Dave Cosby, Tuck, Paddy Harrington, That’s, Michela, Michela Menting, , ” Harrington, It’s, you’ve, they’ll, ” Menting Organizations: CNN, Wyze, Consumer, Amazon, Walmart, Sears, Federal Communications Commission, US, Forrester Research, Attackers, Google, ABI Research, Consumer Product Safety, White, FBI Locations: Southern California, Nova Scotia, Canada, China, ” Haddington
The 2024 Nomad Passport Index states: "Citizens of different countries deal with very different requirements to pay tax, live freely, comply with regulations, and avoid scrutiny when traveling. In that regard, the number of countries a passport holder may visit does not tell the whole story." A slight corporate tax adjustment in Ireland was more than offset by its top scores for travel and global perception, according to Nomad Capitalist's research team. The drop was caused by a change in UAE tax policy that affected domestic and overseas company owners, including residents with foreign company ownership, it said. Many people are curious to know how their passports compare to their global peers, but that's not why Nomad Capitalist produces the annual ranking, it said.
Persons: Hong Kong, Andrew Henderson Organizations: Nomad, Ireland, United, United Arab Emirates, The UAE, Macao Locations: Ireland, Portugal, Finland, United Arab, Netherlands, Germany, New Zealand, Bulgaria, Hong, China
Meet Boston's new power venture capitalist
  + stars: | 2024-03-06 | by ( Melia Russell | ) www.businessinsider.com   time to read: +10 min
A changing of the guard is underway at Boston-based venture capital firm Underscore VC. The venture capitalist, wearing a cherry red cardigan and Apple Watch, cracked open a notebook and set it beside an iced coffee. Underscore VCLyman's Facebook credentials could have given her a ticket to many venture firms located down the road in Menlo Park. "The thesis is that if you get the right people around the business at the right time, it'll change the trajectory of the business," Lyman said. As Lyman steps up, so does UnderscoreUnderscore is moving into its next phase during a reckoning for venture capital.
Persons: Lily Lyman, , Mike Greene, Marley, Lyman, Greene, she's, Michael Skok, John Pearce, Lyman —, Lily, they're, Skok, Alessandra Henderson, Pamela Aldsworth, Jeff Bussgang, Hi Marley, Gordon Ritter, Kevin Bacon, There's, Ritter Organizations: Service, Harvard University, Facebook, House, Apple Watch, Elektra Health, JPMorgan, New England Venture Capital Association, MIT, Allston Venture Fund, Harvard, Boston's, Capital Partners, OpenView Venture Partners, SEC, Old, Capital Locations: Boston, Old, Menlo Park
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMarket volatility: Important to separate 'wheat from the chaff,' says asset management firmAli Dibadj, chief executive officer at Janus Henderson Investors, discusses the outlook for global markets and U.S. interest rates.
Persons: Ali Dibadj, Janus Henderson Organizations: Janus, Janus Henderson Investors
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSmall caps will get a tailwind from market broadening, says UBS' Jason DrahoMarc Pinto, Janus Henderson Investors head of Americas equities, and Jason Draho, UBS Global Wealth Management head of asset allocation Americas, join 'Closing Bell Overtime' to talk the day's market action.
Persons: Jason Draho Marc Pinto, Janus Henderson, Jason Draho Organizations: UBS, Janus Henderson Investors, UBS Global Wealth Management
The reality facing office owners has many of them thinking about office-to-residential conversions, a move also echoed by the Biden administration as a way to alleviate the housing shortage. This story is available exclusively to Business Insider subscribers. "You do see some office buildings right now that over the last 20 years have taken a part of their building like the low-rise and converted it to a hotel," he said. In less common cases, office owners in places like Los Angeles are pivoting their private buildings to film post-production sets. AdvertisementMedical offices are also options for landlords, Paynter said.
Persons: , it's, Biden, Goldman Sachs, Mike Watts, Watts, Steven Paynter, Paynter, Todd Henderson Organizations: Service, Business, DWS Group Locations: Watts, Austin, Los Angeles
By then, he had sold his short-term rental property for a profit, but he still owned other long-term rentals. Therefore, they used the real-estate professional status and bonus depreciation to reduce their taxable income. The main one is through the short-term rental tax loophole (STR loophole). For example, Eileen pointed to Henderson, Nevada, which won't allow a short-term rental permit for a house if there is a permit for an existing short-term rental within 1,000 feet. Deductions would cancel out the taxes owed from the property's revenue, and what is left will reduce your W2 taxable income.
Persons: Michael Hyun, Joshua, Hyun, Eileen Kim, Eileen's, Michael, Brandon Ford, Eileen, Ford, Michael said, you'll Organizations: Business, CPA, IRS, Tax Relief, American Families and Workers Locations: Joshua Tree , California, New York City, San Francisco, Santa Monica , California, Henderson , Nevada, San Jose , California, Alameda County
Brit Awards 2024: See who won
  + stars: | 2024-03-01 | by ( Dan Heching | ) edition.cnn.com   time to read: +4 min
English singer-songwriter RAYE leads the contenders and has the most nominations ever at the Brits, with seven. RAYE also already won the songwriter of the year award ahead of the ceremony. In the best new artist category, RAYE is joined by Mahalia, Olivia Dean, PinkPantheress and Yussef Dayes. Frank Hoensch/Redferns/Getty ImagesThe Brit Awards event, taking place at the O2 Arena in London, is being hosted by Maya Jama, Roman Kemp and Clara Amfo. Announced performers set to take the stage include Dua Lipa, Kylie Minogue, RAYE, Tate McRae, Jungle and more.
Persons: RAYE, Blues ”, Arlo Parks, Jessie Ware, Little Simz, Olivia Dean, PinkPantheress, Dayes, Rachel Agatha Keen, Frank Hoensch, Maya Jama, Roman Kemp, Clara Amfo, Kylie Minogue, Tate McRae, Minogue, Calvin Harris, Ellie Goulding, , ” Cassio, Raye, Central, Ed Sheeran, Hus, Drake, Kenya Grace, ” Lewis Capaldi, ” RAYE, Rudimental, Charlotte Plank, Debbie, Ella Henderson, Goddard, Darren ” J Hus, Mahalia Olivia Dean PinkPantheress RAYE, Yussef Dayes, Damien Meyer, J Hus Jessie Ware Little, Olivia Dean RAYE, Helle Arensbak, Ritzau Scanpix, Barry Can’t, Becky Hill Calvin Harris, Fred, Romy R, Cleo Sol Jorja Smith Mahalia RAYE, Calvin Harris Charli, Olivia Dean RAYE Hip, Cee Dave J Hus, Simz Calvin Harris, David Becker, Caroline Polachek CMAT Kylie Minogue Lana Del Rey Miley Cyrus Olivia Rodrigo SZA, Taylor Swift, Billie Eilish, ” David Kushner, ” Meghan Trainor, Miley Cyrus, Noah Kahan, Oliver Tree, Robin Schulz, Olivia Rodrigo, Peggy Gou, Bill ” Tate McCrae, Baser Sekou Organizations: CNN, Blues, Dua, Mahalia, O2, “ Prada, , Getty, Arlo, Cee, Olivia Dean RAYE Group, Young, International Group, Foo, Pop Locations: United Kingdom, London, Dua Lipa, Dua, Kenya, France, Cee Dua, Aarhus, Denmark, AFP
Having gone big in “Dune,” his 2021 adaptation of Frank Herbert’s futuristic opus, the director Denis Villeneuve has gone bigger and more far out in the follow up. Set in the aftermath of the first movie, the sequel resumes the story boldly, delivering visions both phantasmagoric and familiar. Like Timothée Chalamet’s dashingly coifed hero — who steers monstrous sandworms over the desert like a charioteer — Villeneuve puts on a great show. The art of cinematic spectacle is alive and rocking in “Dune: Part Two,” and it’s a blast. “Dune” made it clear that Villeneuve isn’t that kind of textualist.
Persons: Frank Herbert’s, Denis Villeneuve, , — Villeneuve, , Jon Spaihts, Stephen McKinley Henderson Organizations: Villeneuve
CNN —The Supreme Court agreed Wednesday to decide whether Donald Trump may claim immunity in special counsel Jack Smith’s election subversion case, adding another explosive appeal from the former president to its docket and further delaying his federal trial. The high court on Wednesday ordered that a lower court ruling against Trump remain on hold until it decides the issue. As is common when granting a case, the court released only a short order and did not indicate how the justices voted. Trump had filed an emergency request at the Supreme Court on February 12 asking the justices to block a lower court ruling that he was not immune from Smith’s election subversion charges. Trump and Smith filed dueling briefs at the Supreme Court over whether the decision should be put on hold.
Persons: Donald Trump, Jack Smith’s, Trump, It’s, Smith, SCOTUS, Steve Vladeck, , ” Vladeck, , Vladeck, Tanya Chutkan, Trump’s, Karen LeCraft Henderson, Florence Pan, Michelle Childs, eviscerated, Gore, George W, Bush, Al Gore, CNN’s Hannah Rabinowitz, Devan Cole Organizations: CNN, Supreme, Republican, Trump, DC Circuit, University of Texas School of Law Locations: New York, Bush
On a cold winter day, there’s nothing better than a cozy room that invites you to sink into a comfortable chair and curl up with a fuzzy throw. “No matter what type of home I’m working on, whether it skews more contemporary or more traditional, my goal is always to create something that’s cozy, warm and inviting,” said Shawn Henderson, an interior designer based in New York. “Most people seek that sense of comfort and security.”David Jimenez, an American designer based in Paris, has different words for that feeling. “You can call it coziness,” he said, “but you can also call it making a space feel more layered, more comfortable, more casual. It all adds up to the same idea: You feel like you want to put your feet up.”
Persons: , Shawn Henderson, ” David Jimenez Locations: New York, American, Paris
The health-care sector of the S & P 500 is up about 8% year to date, marking a sharp comeback from a largely flat 2023. Even as health care is making a comeback this year, investors shouldn't forget its defensive attributes. Back in 2022, when the S & P 500 fell 19.4%, the health-care sector slipped only 3.5% "When markets are challenged, health care can be a good place to be," Lyons added. Some of them speak to the growth aspects of health care and why you can play offense." Merger activity is another driver of growth in health care, as large pharmaceutical companies snap up nimble biotech firms that are at the forefront of developing treatments.
Persons: Dan Lyons, Janus Henderson, shouldn't, Lyons, ImmunoGen, Seamus Fernandez, Sotatercept, Cigna, Cantor Fitzgerald, Sarah James, Fred Imbert Organizations: Big Tech, . Healthcare, Janus, Janus Henderson Investors, U.S . Food, Drug Administration's Center, Drug, Research, FDA, Esai, Pharmaceuticals, CNBC Pro, Merck, Abbott Laboratories, AbbVie, CVS Health Locations: U.S
It is only the latest in long list of hacking incidents that have roiled the health care sector in the last few years. Mara FurlichPrescription insurance processing at big university health systems in Indiana and California have also been disrupted, according to internal email correspondence at the health systems reviewed by CNN. In a regulatory filing Thursday, Change Healthcare’s parent firm said “suspected nation-state associated” hackers had breached some of their computer systems. The Change Healthcare spokesperson declined to comment when asked on what information the company based its assessment that foreign government-linked hackers could be responsible. The FBI and CISA did not respond for requests for comment on whether they agreed with Change Healthcare’s assessment on who was responsible for the hack.
Persons: Mara Furlich, Furlich, ” Furlich, Camp Pendleton, Luke Bonczyk, Abi, , , CISA, Max Henderson Organizations: CNN, FDA, Healthcare, Naval Hospital, American Hospital Association, FBI, Infrastructure Security Agency, Department of Health, Human Services, HHS, Optum, Locations: United States, Detroit, Camp Pendleton, Southern California, Indiana, California
Read previewNew Bumble CEO Lidiane Jones has hired at least three high-level employees from Slack, where she had been chief executive for about a year until joining the dating app company in January. chief product officer Ali Rayl, chief people officer David Ard, and vice president of global communications Gabrielle Ferree. Rayl, who until recently served as Slack's senior vice president of product, had been at the workplace messaging app for over 11 years. Ard had served as its senior vice president of employee success, while Ferree was its senior communications director. AdvertisementJones, then an executive vice president at Slack parent Salesforce, replaced Butterfield as CEO of Slack in January 2023.
Persons: , Lidiane Jones, Bumble, Jones, Ali Rayl, David Ard, Gabrielle Ferree, Ard, Ferree, Slack, Jones's, Stewart Butterfield, Slack's, Tamar Yehoshua, Jonathan Prince, Butterfield, Whitney Wolfe Herd, Denise Dresser, Cal Henderson, Fortune, Parker Harris, Salesforce, MuleSoft, Antoine Leblond, Selby Drummond, Ellen Thomas Organizations: Service, Slack, Business, Elliott Management, Sonos, Microsoft Locations: ethomas@insider.com
As the rally continues, it's wise to avoid overcrowded trades among hedge funds as herd mentality often leads to trouble in the stock market, according to Morgan Stanley. Investors in overcrowded trades could run the risk of getting caught in a losing bet when hedge funds, especially systematic traders, form a herd-like stampede to exit the same trades. Morgan Stanley found that hedge funds were most overweight in the consumer discretionary, industrials, and health-care sectors last quarter. Even though they have been extremely popular, these stocks tend to have outsized share counts that make hedge funds' ownership less significant. Avis Budget Group was the most over-owned stock by hedge funds at the end of 2023 with half of its outstanding float shares owned by the cohort, according to Morgan Stanley.
Persons: Morgan Stanley, Russell, Howard Hughes, Janus Henderson, — CNBC's Michael Bloom Organizations: Avis Budget Group, Liberty Media, Liberty Media , New York Times Locations: Wendy's, Liberty Media ,
download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Call it the John Smithification of naming: What was once a distinctive, literary-leaning name with nuanced shades of meaning has started to feel common and empty. AdvertisementEmily may mean “industrious, eager, ” but what I took from her is that to be an Emily (Emily Ratjakowski excluded) is to be a rule follower — at least publicly. AdvertisementMy husband dated an Emily before meBut once I joined the media world, they were everywhere — on all the magazine mastheads, in my ear as NPR reporters, sitting behind news desks, getting nominated for Oscars (Emma Stone is actually Emily, by the way). So, I’ve tasked myself with identifying a plural form for that moment when I discover several Emilys in one room.
Persons: , Emily, , It’s, John Smithification, I’ve, Susan, Emily Jean, , Karen, Emilys, Emily Dickinson, Emily Bartlett, Beverly Cleary’s, Emily Post’s, Emily Ratjakowski, Emily Good, Goods, Emma Stone, Smith ”, Em Henderson, Charitably, you’re Organizations: Service, LinkedIn, Facebook Locations: United States, America
INDIANAPOLIS (AP) — Pacers guard Bennedict Mathurin wanted his family to have something to cheer about after traveling to Indianapolis for All-Star weekend. Instead, two second-year players — Mathurin and Oklahoma City guard Jalen Williams — led Team Jalen past Team Detlef 26-13 in the Rising Stars championship game. GAME 1Mathurin rallied Team Jalen from an early 9-0 deficit by fueling a 21-8 run that swung the game. “I think a lot of it starts by his character to do this game and be in the All-Star game," McClung said. "I don’t think there’s any limit on Paolo Banchero.”QUOTE OF THE DAY“I told my team I’m trying to win, especially in Indy.
Persons: Bennedict Mathurin, Antonio, Victor Wembanyama, Wembanyama, — Mathurin, Jalen Williams —, Detlef, , Mathurin, it’s, Myles Turner, Tyrese, , Jalen Rose, Detlef Schrempf, Oscar Tshiebwe, Scott Henderson, Catchings, Jaden Ivey, Mac McClung, Alondes Williams, Schrempf, McClung, Williams, Paolo Banchero, Banchero, Hall of Famer Tamika Catchings, Max McClung, ” Mathurin, ___ Organizations: INDIANAPOLIS, — Pacers, Oklahoma City, Jalen, Rising, Pacers, Indiana, Mathurin, Portland, League, NBA, Hall of Famer, Indy Locations: Indianapolis, Tyrese Haliburton
HENDERSON, Nev. (AP) — Las Vegas Raiders backup quarterback Jimmy Garoppolo was suspended by the NFL on Friday for the first two games of next season for violating the performance-enhancing drugs policy of the league and NFL Players Association. ESPN also reported the Raiders are expected to release Garoppolo next month before an $11.25 million roster bonus kicks in. Garoppolo's days in Las Vegas appeared over at midseason when then-interim coach Antonio Pierce replaced him with rookie Aidan O'Connell for the rest of the season. Pierce became the Raiders' full-time coach last month, and the Raiders also hired Tom Telesco as their general manager. The Raiders signed Garoppolo last offseason to a three-year, $72.75 million contract when coach Josh McDaniels and GM Dave Ziegler were in charge.
Persons: HENDERSON, Jimmy Garoppolo, Garoppolo, Antonio Pierce, Aidan O'Connell, Pierce, Tom Telesco, Josh McDaniels, Dave Ziegler, O'Connell, ” Garoppolo, I’ve, you’ve, You’ve, hasn’t, ” O’Connell, , Organizations: Las Vegas Raiders, NFL, NFL Players Association, ESPN, Raiders, The Raiders, San Francisco 49ers, Super Bowl, NFC Locations: Nev, Garoppolo's, Las Vegas
In 2022, the Utah legislature banned transgender girls from high school girls’ sports. In August 2022, a Utah judge granted a preliminary injunction allowing trans girls to compete on girls’ teams after the parents of two trans girls filed a lawsuit. But as long as transgender girls’ gender identities are policed, cisgender girls will continue to have theirs policed as well. “I avoided athletic activities out of terror, not disinterest,” one participant said (a new study published last month also found that trans girls are primarily avoiding sports out of fear of harassment). If cisgender girls avoid sports out of these fears as well, they stand to be similarly negatively impacted.
Persons: Frankie de la, , Mary, CNN —, Natalie Cline, Delia M, Harrington, ” Gov, Spencer Cox, Deidre Henderson, “ unconscionable ”, Cline, What’s, Cox, Virginia Foxx, ludicrously, Megan Rapinoe, It’s, , White, Jim Crow, Sarah Longwell, Melissa Gira Grant, Trevor, Trevor Project’s Organizations: National Women’s Football League, , The New York Times, Sports, CNN, Utah State Board of Education, Harrington The Utah State Board of Education, Facebook, Gov, GOP, US Women’s National, Berlin Olympics, Mental Health, Lifeline Locations: Utah, North Carolina, Idaho, California, Nazi Germany
On the day they held their first official workout, the Baltimore Orioles announced pitcher Kyle Bradish will open the season on the injured list with a sprained ulnar collateral ligament. Orioles general manager Mike Elias said Bradish received a platelet-rich plasma injection to treat the injury. “He’s going to start his throwing progression tomorrow, but that progression is going to be something that takes some time. Bradish’s injury is particularly notable because the Orioles already are unsure about left-hander John Means’ status for the start of the season. MANUEL RETURNSFormer Philadelphia Phillies manager Charlie Manuel made his first visit to the ballpark since he suffered a stroke in September.
Persons: Kyle Bradish, Mike Elias, Bradish, , ” Elias, “ He’s, I’m, ” Bradish, Justin Verlander, Cy Young, ’ ’ Verlander, John Means, Corbin Burnes, Gunnar Henderson, Elias, MANUEL, Charlie Manuel, Manuel, Francisco Lindor, Buck Showalter, Billy Eppler, Nobody, , Dan Gelston, Marc Berman, Chris Nelsen, ___ Organizations: Baltimore Orioles, Orioles, AL East, Houston Astros, Cy, Milwaukee Brewers, , Former Philadelphia Phillies, Phillies, NL East, Tampa Bay Rays, Philadelphia, New York Yankees, Fame, Minnesota Twins, Los Angeles Dodgers, New York Mets, Mets, Diamondbacks, Rangers Locations: Cleveland, Clearwater , Florida
Berry, who drives for Stewart-Haas Racing and will make his Daytona 500 debut on Sunday, wished he had Swift sign a yearbook. “I would have already sold it by now,” he quipped Wednesday at Daytona 500 media day. For the Daytona 500, Hard Rock is taking bets on everything from winning driver and winning race team to top Ford, Chevrolet and Ford drivers. That’s the fastest I’ve ever accelerated because of the all-wheel drive and the torque.”YELEY BEHIND THE WHEELJ.J. Yeley was a late addition to the Daytona 500. DE FERRAN TRIBUTEAustin Cindric, the 2022 Daytona 500 winner, has dedicated this race to late open-wheel star Gil de Ferran.
Persons: — Taylor Swift, Josh Berry’s, Swift, Berry, Stewart, Haas, , , Dang, ’ ” Berry, ” Berry, David Ragan, Ragan, ” Ragan, They’re, I’ve, Yeley, Greg Biffle, ” Biffle, FERRAN, Austin Cindric, Gil de Ferran, De Ferran, Cindric’s, Tim, Austin, ” “ Gil, ” Cindric Organizations: DAYTONA, Henderson, Daytona, ESPN Bet, NASCAR, Ford, Chevrolet, Martinsville Speedway, Toyota, EV, NY Racing, Team Penske, Penske, California Speedway Locations: Fla, Tennessee, Florida, BetMGM, Martinsville, Indianapolis
Dow tumbles more than 400 points on hot inflation data
  + stars: | 2024-02-13 | by ( Krystal Hur | ) edition.cnn.com   time to read: +2 min
New York CNN —Stocks tumbled on Tuesday after fresh data revealed that inflation eased somewhat but stayed stubborn in January. That comes after the Dow Jones Industrial Average on Monday notched a record high close, while the S&P 500 retreated from its record high. The Dow slid 490 points, or 1.3%, Tuesday morning after falling more than 500 points at its session lows. The Consumer Price Index revealed that prices rose by 3.1% for the 12 months ended in January, according to Bureau of Labor Statistics data released Tuesday. Atlanta Fed President Raphael Bostic told CNN in an exclusive interview published Monday that he doesn’t see the Fed cutting rates until the summer.
Persons: Stocks, Dow, , Greg Wilensky, Janus Henderson, Chris Zaccarelli, Raphael Bostic, Carl Icahn Organizations: New, New York CNN, Dow Jones, Nasdaq, of Labor Statistics, Traders, Federal Reserve, Janus, Janus Henderson Investors, Fed, Independent, Alliance, Atlanta Fed, CNN, JetBlue, Hasbro Locations: New York
Stock markets tumbled on Tuesday as investors slashed their bets on the Federal Reserve taking the brakes off the economy in the coming months, after hotter-than-expected inflation data led traders to expect interest rates will remain higher for longer. The benchmark S&P 500 stock index fell over 1 percent in early trading. Investors still expect the Fed to pull inflation back to manageable levels without inflicting too much pain on the broader economy. But that forecast was put under pressure on Tuesday by a consumer inflation report that showed prices rising more quickly than had been forecast. The consumer data “came in stronger than either the Fed or the market wanted or expected,” said Greg Wilensky, head of U.S. fixed income at Janus Henderson Investors.
Persons: , Greg Wilensky, Janus Henderson Organizations: Federal Reserve, Janus, Janus Henderson Investors
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