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☆ Here’s why high interest rates haven’t caused a US recession
▼ + stars: | 2024-03-19 | by ( Bryan Mena | ) edition.cnn.com time to read: +5 min

America’s economy remains remarkably solid, despite the high interest rates. The Fed dramatically cut interest rates in the early days of the Covid-19 pandemic to help shore up an economy dealing with high unemployment, prompting mortgage rates to also drop in tandem. Those homeowners who locked in an affordable 3% mortgage rate, for instance, aren’t likely to trade it for anything higher. Fed officials reflected in their latest economic projections from December that they expect to cut interest rates three times this year, which would also lower mortgage rates. That all means that Americans have been well equipped to deal with the effects of high interest rates.

Persons: Jerome Powell, ” Powell, ” Dan North, Freddie Mac, ” Karen Manna, Federated Hermes, “, ”, Powell Organizations: DC CNN, Federal Reserve, Reserve, CBS, Allianz Trade, CNN, Fed, Employers, Consumer Finances, Federated Locations: Washington

☆ TSMC considering advanced chip packaging capacity in Japan, sources say
▼ + stars: | 2024-03-18 | by ( ) www.cnbc.com time to read: +1 min

Worker walks outside the new semiconductor plant by Japan Advanced Semiconductor Manufacturing Company (JASM), a subsidiary of Taiwan's chip giant TSMC, in Kikuyo of the Kikuchi district, Kumamoto prefecture. Taiwan's TSMC is looking at building advanced packaging capacity in Japan, according to two sources familiar with the matter, a move that would add momentum to Japan's efforts to reboot its semiconductor industry. Taiwan's TSMC is looking at building advanced packaging capacity in Japan, according to two sources familiar with the matter, a move that would add momentum to Japan's efforts to reboot its semiconductor industry. One option the chipmaking giant is considering is bringing its chip on wafer on substrate, or CoWoS, packaging technology to Japan, according to one of the sources who was briefed on the matter. Demand for advanced semiconductor packaging has surged globally in tandem with the artificial intelligence boom, spurring chipmakers including TSMC, Samsung Electronics and Intel , to boost capacity.

Persons: TSMC Organizations: Japan Advanced Semiconductor Manufacturing Company, Taiwan Semiconductor Manufacturing, TSMC, Samsung Electronics, Intel Locations: Japan, Kikuyo, Kikuchi, Kumamoto prefecture, Taiwan's, Taiwan

☆ I tried the AI robot massage table coming to Equinox. It's impressive, but I still prefer a human.
▼ + stars: | 2024-03-17 | by ( Ana Altchek | ) www.businessinsider.com time to read: +8 min

Equinox is getting an AI massage table this summer and it's the first of its kind to launch in the US. So naturally, I had to test out the new Aescape AI massage that Equinox is adding to its New York City locations in June. It's the first fully automated, customizable massage experience available commercially in the US, with two long robotic arms that massage you in tandem. The table is located in a dimly lit room with a large dresser, mirror, and robotic massage table in the center. Beider also said Aescape's massage table isn't an option for everyone.

Persons: —, I've, It's, Eric Litman, Rachel Beider, Aescape, Ana Altchek, Litman, Molly O'Connor, Frank Sinatra, Beider, didn't, We've, you'll Organizations: Service, Massage, PRESS Locations: Paris, New York City, Colombia, COVID

☆ Watching soldiers 'at all times,' the drone threat shows just how 'scary' future wars may be, says a US Army officer training troops to defeat them
▼ + stars: | 2024-03-14 | by ( Jake Epstein | ) www.businessinsider.com time to read: +7 min

It's a developing problem that underscores how "scary" future wars may be, a US Army officer said. Business Insider recently traveled to Fort Sill, where American troops are learning how to defeat this threat. A small drone drops explosives on soldiers below or slams into an armored vehicle and blows up. "You have to assume you're being watched at all times," Lt. Col. Moseph Sauda, a US Army officer training American service members to defeat enemy drone systems, told Business Insider in an interview. AdvertisementA Ukrainian soldier directs a drone during attacks on Russian military positions near Bakhmut on June 28, 2023.

Persons: —, Moseph, Sauda, Ercin, Wojciech Grzedzinski, that's, Adam Schultz, Schultz, Jake Epstein Organizations: US Army, Business, Service, Aircraft System, University, Anadolu Agency, Getty, Ukraine, Kyiv, Mechanized Brigade, Army, BI, Ukraine's 60th Mechanized Brigade, Smart, Wisconsin National Guardsmen, Wisconsin National, Pentagon Locations: Fort Sill, Ukraine, Oklahoma, Bakhmut, State, Moscow, Ukrainian, Donetsk Oblast, Russia, Wisconsin

☆ 2024 is the year of the rate cut pivot — here's when the world's central banks will budge
▼ + stars: | 2024-03-13 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +6 min

EIU also expects the Bank of Japan will exit its negative interest rate policy in the second quarter. Markets currently expect the Fed to start with a 25-basis-point rate cut in June. Euro zoneThe European Central Bank last week also held its policy rate at a record high of 4%, signaling that it won't cut rates before June. JPMorgan said in a research note that the Turkish central bank may cut its policy rate in November and December, keeping its year-end policy rate forecast of 45%. IndonesiaIndonesia's central bank kept its benchmark policy rate at 6% in its recent meeting.

Persons: EIU, Jerome Powell, LSEG, Nomura, Perry Warjiyo, CNBC's JP Ong, BOK, Goldman Sachs, Goohoon Kwon, Kwon Organizations: Getty, Economist Intelligence Unit, Bank of Japan, United, United States U.S, Federal, Fed, European Central Bank, ECB, Swiss National Bank, UBS, Bank of Canada, Bank of, JPMorgan, Reserve Bank of, ANZ, New Zealand Auckland Savings Bank, Bank, Bank Indonesia, BMI, Fitch Solutions, U.S, Oxford Economics, Macquarie Locations: Czech, China, Japan, United States, Switzerland Swiss, Bank of Canada, Turkey, Turkish, Reserve Bank of Australia, New, Indonesia, South Korea, Asia

☆ Explainer-How the West Might Use Russia's Frozen Reserves
▼ + stars: | 2024-03-12 | by ( March | At P.M. | ) www.usnews.com time to read: +5 min

Here are some of the ideas that have been suggested:CONFISCATIONSome international policymakers and lawyers say the immobilised Russian reserves can simply be confiscated under a doctrine of international law known as "countermeasures". Some in the bloc are still wary, though, and the European Central Bank has warned that claiming the trapped Russian assets should only be done in tandem with G7 powers. The bondholders would not have a contractual claim on the Kremlin’s frozen reserves. Ukraine would have a plausible way to collect on any damages awarded up to the value of the reserves. If Moscow refused to pay the damages, the allies could then use Russia’s frozen assets to pay off the loan.

Persons: Marc Jones, Lee Buchheit, Daleep Singh, Mark Heinrich Organizations: Marc Jones LONDON, Emergency Economic, U.S, European Central Bank Locations: Ukraine, Russia, Kuwait, United States, EU, Russian, Brussels, Belgium, U.S, Britain, China, Hong Kong, Dubai, Moscow

☆ U.S. companies to announce over $1 bln of investments in the Philippines, Commerce Secretary Raimondo says
▼ + stars: | 2024-03-12 | by ( ) www.cnbc.com time to read: +1 min

U.S. Commerce Secretary Gina Raimondo speaks during a Senate hearing in Washington, D.C., on May 16, 2023. American companies are set to announce investments amounting to more than $1 billion in the Philippines, U.S. Commerce Secretary Gina Raimondo said during an official visit to Manila on Monday. Raimondo is heading a two-day trade and investment mission, the first of its kind for the Philippines. The delegation includes executives from 22 companies including United Airlines , Alphabet's Google , Visa , KKR Asia Pacific, and Microsoft . United said last week it would launch new flights from Tokyo-Narita to Cebu, Philippines starting July 31.

Persons: Gina Raimondo, Raimondo, United, Joe Biden, Ferdinand Marcos Jr Organizations: Commerce, Washington , D.C, U.S . Commerce, United Airlines, Google, Visa, KKR Asia Pacific, Microsoft, U.S, Philippine Locations: Washington ,, Philippines, U.S, Manila, Tokyo, Narita, Cebu, China, South, Taiwan

☆ Opinion: Oscars highlights from our culture critics
▼ + stars: | 2024-03-11 | by ( Cnn Opinion | ) edition.cnn.com time to read: +18 min

CNN —Five CNN Opinion culture critics share their takeaways from the 96th Academy Awards. Gene Seymour: Hollywood’s next existential questionMost of the big, expensive movies walked away with Oscars Sunday night. Ryan Gosling performs the song "I'm Just Ken" from the movie "Barbie" during the Oscars on Sunday. Rita Moreno delivered a spicy ode to best supporting actress nominee America Ferrera, noting that her monologue from “Barbie” was one of the most memorable film moments. And the winners are... Robert Downey Jr. for best supporting actor in "Oppenheimer; Da'Vine Joy Randolph for best supporting actress in "The Holdovers"; Emma Stone for best actress in "Poor Things" and Cillian Murphy for best actor in "Oppenheimer."

Persons: Gene Seymour, Hollywood’s, Gene Seymour Jeremy Freeman, CNN Cord Jefferson, ” Jefferson, Jefferson, “, ” Cord Jefferson, Kevin Winter, “ Oppenheimer, Christopher Nolan, Cillian Murphy, Robert Downey Jr, “ Barbie, ”, Billie Eilish, O’Connell, “ Barbie ”, George Lucas, Steven Spielberg, Mark Harris, Sara Stewart, Barbie ”, Sara Stewart Todd Thompson, Ryan Gosling’s, “ I’m, Ken, Finneas O’Connell, Oscar, Eilish –, –, ” Eilish, “ Oppenheimer ”, Greta Gerwig’s, Gerwig, Margot Robbie, Jimmy Kimmel’s, “ Barbie ” snubs, Ryan Gosling, Chris Pizzello, Gosling –, snubs –, Eilish, Rita Moreno, America Ferrera, Jeff Yang, they’ve, Jack Palance, Seth McFarlane, Chris Rock, Warren Beatty, Faye Dunaway, they’d, ” Will Smith, Jada Pinkett Smith, Jimmy Kimmel, Catherine O’Hara, Michael Keaton, Twinsies Arnold Schwarzenegger, Danny DeVito, Melissa McCarthy, Octavia Spencer, Dale, Cord Jefferson, Finneas O'Connell, Barbie, Mike Blake, Kimmel, Donald Trump, Al Pacino, Pacino, — “ Oppenheimer, Celine Song, Bruce ”, ” Noah Berlatsky, Lily Gladstone, Noah Berlatsky Noah Berlatsky, Mollie Burkhart, Emma Stone, Cord Jefferson’s, Joy Randolph’s, Justine Triet’s, Randolph, Gladstone, Martin Scorsese’s, Burkhart, Ernest, Leonardo DiCaprio, Scorsese, she’s, DiCaprio, Robert DeNiro, Emma Stone’s, Bella, Noah Berlatsky, Holly Thomas, isn’t Robert Downey Jr, It’s, ” Holly Thomas Holly Thomas, Brett Easton Ellis’s, Timothee Chalamet, Austin Butler, Florence Pugh, Downey Jr, Tony Stark, Downey, Oppenheimer, Da'Vine Joy Randolph, Arturo Holmes, Louis Strauss, Katie Couric Organizations: CNN —, CNN, Warner Bros ., Hollywood, New York, The New York Times, Newsday, Entertainment, The Washington, Twitter, Abbott, Disney, Reuters, Teamsters, International Alliance, Employees, Globe, The, “, Downey, North, Katie Couric Media Locations: Pennsylvania, La, Asian America, America, Osage Nation of Oklahoma, Chicago, ”, Zendaya, North America, London

☆ The Justice Department reportedly opened a criminal investigation into the Alaska Airlines door blowout
▼ + stars: | 2024-03-11 | by ( Cameron Manley | ) www.businessinsider.com time to read: +4 min

The DoJ opened a criminal investigation into the Boeing 737 blowout, The Wall Street Journal reported. AdvertisementThe Department of Justice has reportedly opened a criminal probe into the Boeing jetliner blowout that left a hole in the side of an Alaska Airlines plane in January. Citing unnamed sources, The Wall Street Journal reported on Saturday that DoJ investigators had contacted passengers and crew members who were on the Boeing 737 Max 9. Alaska Airlines said in a statement: "In an event like this, it's normal for the DoJ to be conducting an investigation. However, the NTSB is still unsure about who removed and replaced the door panel, Homendy said Wednesday.

Persons: —, Ed Wray, Jennifer Homendy, Homendy Organizations: DoJ, Boeing, Street Journal, Alaska Airlines, Service, of Justice, Street, Business Insider, Lion Air, Seattle Times, National Transportation Safety, NTSB, Spirit, Aviation Administration, FAA Locations: Portland , Oregon

☆ Why Friday’s key Nvidia reversal could mark the start of a broader stock market unwind
▼ + stars: | 2024-03-11 | by ( Sarah Min | ) www.cnbc.com time to read: +4 min

But some investors are concerned markets could be due for a broader unwind without the help from AI names. As it is, five of the Magnificent Seven names dropped last week, with the exception of Nvidia and Meta Platforms. That advance has helped the S & P 500 climb for 16 out of 19 weeks, notching record after record in its ascent. "A consolidation in the AI trade has been overdue for a while now, so Friday's key reversal day could signal the start of that unwind." NVDA 5D mountain Nvidia Crowding in AI Indeed, other market observers warned investors the overreliance on AI beneficiaries this year could mean danger for the overall market.

Persons: Jonathan Krinsky, Peter Boockvar, semi's, Dubravko, BTIG's Krinsky, there's, Russell, Chris Verrone, Goldman Sachs, Krinsky, Samantha Subin Organizations: Nvidia, Meta, Apple, AMD, Bleakley Financial, Google, JPMorgan, Sunday

☆ Ex-Amazon engineers lose 6-figure 'Shark Tank' deal off 1 blunder: 'That's the biggest mistake startups make'
▼ + stars: | 2024-03-11 | by ( Ashton Jackson | ) www.cnbc.com time to read: +2 min

They still couldn't land a deal on Friday's episode of ABC's "Shark Tank" due to making what billionaire investor Mark Cuban referred to as "the biggest mistake startups make": trying to grow their brand too quickly. Skaloud and Feiereisen co-founded Boona, a Seattle-based company that makes a $249 showerhead called the "Tandem." "We want to build a brand," Feiereisen said. "Some of the greatest deals in 'Shark Tank' history [are] when the entrepreneur focused on that one application and maxed it out." And if we do create new products, it's to support Tandem," Feiereisen said, trying to reel investors back in.

Persons: Brett Skaloud, Jeff Feiereisen, Mark Cuban, Feiereisen, Kevin O'Leary, Skaloud, I'm, O'Leary Organizations: Amazon Locations: Seattle, Cuban

☆ Jim Cramer’s guide to investing: How did Cramer become interested in the market?
▼ + stars: | 2024-03-11 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

CNBC's Jim Cramer said he felt drawn to the stock market when he was in the fourth grade. His father gave him a rudimentary explanation of the market, comparing the way investors studied stocks' performance to how sports fans studied that of players. Cramer was eager to start trying to track stocks and figure out which ones would go higher, so he began keeping a ledger with various company names. Cramer's childhood stock market "obsession" convinced him that it's never too early to start training young investors. "Get them started early, and they may play for life because, alas, the stock market, it's a long-term contest," he said.

Persons: CNBC's Jim Cramer, Curiosity's, Cramer, it's Organizations: Philadelphia Bulletin Locations: Vietnam

☆ Deleting social media and shopping apps from my smartphone has saved me thousands of dollars. I also sleep better at night.
▼ + stars: | 2024-03-10 | by ( Ashley Keenan | ) www.businessinsider.com time to read: +5 min

I have spent hundreds of hours and thousands of dollars from the comfort of my couch. At first, it was bliss; swiping from app to app, filling carts like I was browsing the aisles of the supermarket. I spent thousands of dollars each month on Amazon, Instacart, Wayfair, Etsy, Sephora, and other shopping apps. But instead of applying for jobs or pitching editors, I spent hours cycling through social media apps each day. My relationship with my smartphone has changed significantly since I removed the food and shopping apps.

Persons: — Organizations: Service, Business, Nokia

☆ Missed the Nvidia rally? These 10 companies are buying its chips — and their stocks are rallying
▼ + stars: | 2024-03-08 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

Super Micro , Tokyo Electron Device , Meta Platforms , Tata Motors and Mitsui are among the stocks that have seen the most significant gains over the past year. According to FactSet, their share price movement correlates between 93% and 98% of the time with Nvidia's stock. Super Micro Super Micro, which makes computer servers, has benefitted directly from using Nvidia's AI chips in its products. Tokyo Electron Device Tokyo Electron Device is a distributor of Nvidia's chips in Japan. Tokyo Electron Device is a listed subsidiary of Tokyo Electron , Japan's largest chip-manufacturing equipment maker.

Persons: FactSet, Meta, Mark Zuckerberg, Paul Meeks, Meeks, —, Jonathan Vanian, Weizhen Tan Organizations: Nvidia, CNBC Pro, Nvidia's, Tata Motors, Mitsui, Microsoft, Meta, Facebook, Super, Tech, Portfolio Management Locations: Tokyo, Japan

☆ 'People didn't see it coming': What to know about this hot AI stock up nearly 800% in the past year
▼ + stars: | 2024-03-01 | by ( Samantha Subin | ) www.cnbc.com time to read: +6 min

Here's a breakdown of how Super Micro got to this point, and where investors and analysts expect it to go. What to know about Super Micro Computer Creating servers isn't a new objective for the California-based company. Other shareholders such as Vendig have opted to take a breather on buying shares until the next earnings call. Those headwinds may not hit until 2025 but could hurt the stock if Super Micro fails to differentiate itself. "Super Micro was in the right place at the right time when generative AI took off, there really wasn't a competitor," he said.

Persons: hasn't, Paul Meeks, Brian Vendig, we've, Shreya Gheewala, Matt Bryson, Sylvia Jablonski, Jablonski, Vendig, Wedbush's Bryson Organizations: Nvidia, Devices, Computer, Management, MJP Wealth, AMD, Intel, Wedbush Securities, Micro, Super Micro, Super Locations: California

☆ Dollar waits on U.S. inflation reading, bitcoin tops $60,000
▼ + stars: | 2024-02-29 | by ( ) www.cnbc.com time to read: +3 min

The U.S. dollar was firm and the yen was headed for a monthly loss in the lead up to U.S. inflation data that could ruffle the interest rate outlook, while bitcoin surged above $60,000. The U.S. dollar was firm and the yen was headed for a monthly loss in the lead up to U.S. inflation data that could ruffle the interest rate outlook, while bitcoin surged above $60,000. Bitcoin is on a tear and topped $63,000 overnight as it rides a wave of cash rushing to new U.S. bitcoin exchange-traded funds. It is up more than 45% this month, its largest gain since December 2020 and a record high above $69,000 is within sight. The New Zealand dollar nursed losses on bets that rate hikes there are finished.

Persons: bitcoin, Masato Kanda, Sue Ann Lee, Kristina Clifton, Sterling Organizations: U.S, New Zealand, Reserve Bank of New, Federal, Commonwealth Bank of Australia Locations: Japan, U.S, Asia, Sao Paulo, Reserve Bank of New Zealand, Europe

☆ A Billion-Dollar Donation (Without a Billion-Dollar Ego)
▼ + stars: | 2024-02-29 | by ( Ginia Bellafante | ) www.nytimes.com time to read: +2 min

A single summer party on Long Island might raise millions of dollars for Southampton Hospital. This facility in Florida would be called the Julia Koch Family Ambulatory Care Center. David Gottesman, known as Sandy, an investor and early acolyte of Warren Buffett’s, was not a creature of Page Six or TV, of divorce settlements, $500 million yachts, Davos or social-media diatribes. According to new research from CASE, an organization for academic administrators involved with fund-raising, $58 billion in charitable giving was turned over to colleges and universities during the 2023 fiscal year. It was the second highest amount on record, and the number of gifts totaling $100 million or more — 11 of them — surpassed the figure in 2022.

Persons: Julia Koch, Ruth Gottesman, David Gottesman, Warren Buffett’s Organizations: Albert Einstein College of Medicine, Philanthropy, Southampton Hospital, Care Locations: West Palm, Long, Florida, Sandy, Davos

☆ Over 60% of illegal crypto activity is tied to sanctioned groups or terrorist organizations, report finds
▼ + stars: | 2024-02-29 | by ( Dylan Butts | ) www.cnbc.com time to read: +5 min

The American blockchain analysis firm's "2024 Crypto Crime Report" found that $24.2 billion of illicit cryptocurrency was transferred in 2023, based on already identified illicit crypto wallets. Chainalysis retroactively updates its yearly crypto figures when new illicit wallets come to light. watch nowCrypto to avert sanctionsEntities like the crypto "mixer" Tornado Cash and Garantex took the lion's share of illicit funds in 2023. The amount of crypto transferred to sanctioned entities has climbed in recent years in tandem with a greater share of new trade restrictions specifying crypto wallets. Terrorist financingIllicit crypto volume identified by Chainalysis as terrorist financing accounted for a much smaller proportion than that of transactions to sanctioned entities in 2022.

Persons: Andrea Gacki, cryptocurrency, Chainalysis, Andrew Fierman, Garantex, Tornado Cash, Lazarus, Lazarus Group ., Sinbad.io, Chanalysis's Fierman, Tawfiq Muhammad Said Al, Law's, Hayat Tahrir Organizations: Foreign Assets, U.S . Department of, Treasury, Bloomberg, Getty, Hezbollah, CNBC, Tornado, Lazarus Group, U.S . Office, Foreign, Lazarus, National Bureau for, Iran's Quds Force, Al, ISIS, Hayat Locations: New York, Korean, Chainalysis, China, Latin America, North Korea, Iran, Iran's Quds, Syria, cryptocurrency

☆ As AI takes hold of your smartphone, the end of the app era could be in sight
▼ + stars: | 2024-02-28 | by ( Hugh Langley | ) www.businessinsider.com time to read: +5 min

Smartphone makers flooded Mobile World Congress to show off new AI features. More AI tools are moving on to devices, which would make them faster and cheaper to run. Now, as the industry looks to capitalize on the AI boom and galvanize a stagnating mobile market, phone makers want the AI tools to run locally on the phone itself. The company attended MWC to tout how it's helping phone makers such as Samsung and Honor run more AI tools on their phones. Samsung was also there, previewing some of the AI tools it's begun to roll out on its phones, including a nifty live-translation feature.

Persons: —, chipmakers, it's, Morgan Stanley, Francisco Cheng, Hugh Langley, Cheng, Siri, Francisco Jeronimo, Jeronimo Organizations: Congress, Service, Mobile, Companies, Qualcomm, Samsung, Hugh Langley Qualcomm, MWC, Google, Motorola, IDC, Insider, Deutsche Telekom, Brain.ai Locations: Barcelona

☆ A new Biden is on display and he’s trying to be a problem-solver
▼ + stars: | 2024-02-27 | by ( Zachary B. Wolf | ) edition.cnn.com time to read: +8 min

CNN —Who is this new Joe Biden we’re seeing, just in time for election season? He’s getting directly involved in government funding, calling congressional leaders down to the White House to negotiate in front of a crackling fire. Talking about a ceasefireFacing a protest vote from pro-Palestinian Democrats in Michigan in Tuesday’s primary, Biden was sharing some optimism on the Middle East. “My hope is by next Monday, we’ll have a ceasefire,” Biden said, a massive cone of mint chip halfway to his mouth. The Democratic divide on the Middle East is a growing political issue at home for Biden.

Persons: Joe Biden we’re, Donald Trump’s, He’s, Biden, we’ll, ” Biden, Seth Meyers, uncommitted ”, Trump President Joe Biden, ”, Trump, “, Melania, Mercedes, Kamala Harris, Mike Johnson, Johnson, Joe Biden, Evan Vucci, Meyers, He’ll, Jennifer Agiesta, there’s, Barak Ravid, Axios, Wolf Blitzer, Ravid, ” Ravid, “ I’m, Joe Biden’s, Alabas, –, ” Farhat, CNN’s Boris Sanchez, Melanie Zanona Organizations: CNN, Palestinian Democrats, Democratic, Biden, Arab, voters, Michigan, Trump President, Republican, Gallup, Republicans, Democrats, White, Capitol, Trump Locations: New York, Michigan, Manhattan, Israel, Ukraine, Brownsville , Texas, Eagle, , Texas, Gaza, Arab

☆ This industrial stock keeps hitting record highs — what's behind the rally and what's next
▼ + stars: | 2024-02-23 | by ( Morgan Chittum | ) www.cnbc.com time to read: +4 min

It's been a great month for Eaton stock. The power management company notched a series of record highs during a lengthy post-earnings rally that saw shares surge 17% in February. They include infrastructure spending, further artificial intelligence adoption necessitating the construction of more data centers, the acceleration of the transition to clean energy, and the rise of nearshoring and onshoring. The semiconductor giant's results highlighted strength and demand for data centers — a big part of Eaton's overall business and sales. AI data centers require lots more electrical components, which will likely show up on Eaton's order book down the line.

Persons: It's, what's, Eaton, Joe Biden's, Jim Cramer's, Jim Cramer, Jim, Brendan McDermid Organizations: Eaton, Infrastructure Investment, Jobs, Nvidia, CNBC, Traders, New York Stock Exchange Locations: Eaton

☆ Stocks making the biggest moves premarket: Block, Live Nation, Carvana, Booking Holdings & more
▼ + stars: | 2024-02-23 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +4 min

Live Nation Entertainment — Shares of the entertainment platform popped nearly 5% following a fourth-quarter revenue beat. On the other hand, however, the company reported fourth-quarter earnings and revenue figures that surprised to the upside. Carvana — Shares of the used car marketplace surged 33% in premarket trading after the struggling company posted its first-ever annual profit. Quarterly profit and revenue results were weaker than analysts expected, although the company reported strong fourth-quarter earnings than analysts anticipated. Penumbra — The medical device maker fell more than 7% on the back of mixed fourth-quarter results and lackluster full-year guidance.

Persons: LSEG, overshadowing, Insulet, Carvana, William Blair, Raymond James, MercadoLibre, Jason Bazinet, Penumbra, DraftKings, — CNBC's Michelle Fox, Hakyung Kim, Tanaya Macheel, Sarah Min, Jesse Pound, Samantha Subin Organizations: Intuit, Revenue, Holdings, FactSet, UBS, Fox, Citi, ESPN, Warner Bros, JV, JPMorgan, Barclays, Discovery

☆ Credit card interest rates are at record highs. Cards have 'never been this expensive,’ CFPB says
▼ + stars: | 2024-02-23 | by ( Greg Iacurci | ) www.cnbc.com time to read: +4 min

The share of consumers with "subprime" credit scores who hold a credit card has been "relatively stable," they said. Major credit card issuers got $25 billion in extra interest by raising their average APR margin over the last 10 years, the CFPB estimated. "Higher APR margins have allowed credit card companies to generate returns that are significantly higher than other bank activities." They're among the nation's biggest credit card issuers. How to manage credit card interest

Persons: Martinez, Seikel, Lindsey Johnson, Greg McBride, McBride, That's Organizations: Bank, Getty, Consumer Bankers Association, CBA, Federal Reserve Bank of New, Financial, Discover Financial Locations: Federal Reserve Bank of New York

☆ Dealmaking is showing signs of life, but it comes with some downsides
▼ + stars: | 2024-02-22 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

In today's big story, we're looking at why M&A could be staging a comeback and which bankers made the most of 2023 . The big storyDealmaker's delighttatomm/iStock, Tyler Le/BIThree monster deals announced in less than a week has Wall Street wondering: Is M&A back? But after a dreadful 2022 and 2023, dealmaking is showing signs of life, Business Insider's Theron Mohamed writes. Capital One, Truist, and Walmart announced acquisitions totaling $53 billion this week, leaving bankers hopeful the good times (and fees) are back. Deals represent an exit opportunity for companies, giving their investors (some of whom are employees) a chance to cash out.

Persons: Tyler Le, Theron Mohamed, Biden, Alex Morrell, Reed Alexander, Alyssa Powell, Emily Stewart, Wall, it's, M, Getty, Jenny Chang, Rodriguez, Jensen Huang, Goldman Sachs, Carlos Delgado, Associated Press Rivian, Rivian, Dan DeFrancesco, Hallam Bullock, Jordan Parker Erb, George Glover Organizations: Business, Federal Reserve, Walmart, Activision Blizzard, ExxonMobil, Cisco, Acquisitions, Activision, Wall Street, Big Tech, Nvidia, ING, Microsoft, Associated Press, BI, Google, Walgreens, Sunshine State, CVS, Intuit, Nestle, Square Locations: Europe, Florida, VillageMD, New York, London

☆ An under-the-radar recession indicator in the bond market is sounding the alarm for a hard landing
▼ + stars: | 2024-02-21 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

An under-the-radar recession indicator in the bond market is raising alarm that the economy could be heading for a hard landing, according to ING Economics. Strategists at the analytics firm pointed to a tight correlation between US Treasury yields and Bund yields in Europe, with both yields slipping in recent weeks as markets reprice their interest rate expectations over the short-run. That was the case in the Silicon Valley Bank crisis in early 2023, when a sell-off fueled by the collapse of SVB led Treasury yields and Bund yields to tumble in tandem. "The correlation between UST and Bund yields is significantly elevated, which usually points to a hard-landing narrative," strategists said in a note on Wednesday. New York Fed economists, meanwhile, are pricing in a 61% chance the economy could tip into recession by January of next year.

Persons: SVB Organizations: ING Economics, Treasury, Business, European Central Bank, ING, Bank, UST, Bund, ECB, New York Fed Locations: Europe, Silicon

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