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☆ Wall St Week Ahead: Surging US megacap stocks leave some wondering when to cash out
▼ + stars: | 2023-06-02 | by ( Lewis Krauskopf | ) www.reuters.com time to read: +5 min

The benchmark S&P 500 (.SPX) has risen 11.5% this year and stands at a 10-month high. The S&P 500 rose 1.45%. The recent surge in Nvidia showed how a stock can keep climbing even after posting hefty gains. At the same time, only 20.3% of S&P 500 stocks have outperformed the index on a rolling three-month basis, a record low dating back five decades, according to Ned Davis. Kotok views narrowing breadth as an ominous sign for the broader stock market, saying that equities also look less favorable in certain asset valuation metrics.

Persons: Ned Davis, Peter Tuz, Jay Hatfield, ” Hatfield, “, Brendan McDermid Michael Purves, Purves, Kevin Mahn, Refinitiv, ”, Mahn, Dow, David Kotok, Lewis Krauskopf, Ira Iosebashvili, Nick Zieminski, Diane Craft Organizations: YORK, BofA Global Research, Ned Davis Research, Chase Investment, Nvidia, Apple, Microsoft, Google, Federal Reserve, New York Stock Exchange, REUTERS, Tallbacken Capital Advisors, Nasdaq, Hennion, Walsh Asset Management, Dow Jones, Cumberland Advisors, Thomson Locations: megacap, BofA, New York City, U.S

☆ Wall St Week Ahead Surging US megacap stocks leave some wondering when to cash out
▼ + stars: | 2023-06-02 | by ( Lewis Krauskopf | ) www.reuters.com time to read: +5 min

The benchmark S&P 500 (.SPX) has risen 11% this year and stands at a 10-month high. He is overweight megacaps, including Nvidia, Microsoft and Google-parent Alphabet (GOOGL.O). The recent surge in Nvidia showed how a stock can keep climbing even after posting hefty gains. At the same time, only 20.3% of S&P 500 stocks have outperformed the index on a rolling three-month basis, a record low dating back five decades, according to Ned Davis. In one commonly used valuation metric, the S&P 500 is trading at 18.5 times forward earnings estimates compared to its historic average of 15.6 times, according to Refinitiv Datastream.

Persons: Ned Davis, Peter Tuz, Jay Hatfield, ” Hatfield, “, Michael Purves, Purves, Kevin Mahn, Refinitiv, ”, Mahn, Dow, David Kotok, Lewis Krauskopf, Ira Iosebashvili, Nick Zieminski Organizations: YORK, BofA Global Research, Ned Davis Research, Chase Investment, Nvidia, Apple, Microsoft, Google, Tallbacken Capital Advisors, Nasdaq, Hennion, Walsh Asset Management, Dow Jones, Cumberland Advisors, Thomson Locations: megacap, BofA

☆ Investors relieved after US House votes to suspend debt ceiling
▼ + stars: | 2023-06-01 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

Asian markets were trading higher when the bill cleared the house and held their gains. Treasury yields rose marginally. The bill would suspend the federal government's borrowing limit until 2025, allowing the Treasury to sell debt to pay its obligations. Two-year Treasury yields rose 2.7 basis points to 4.417%, while currency markets were broadly steady. Debt ceiling concerns periodically weighed on stock markets over the last week, although most investors expected an 11th-hour agreement.

Persons: Brendan McDermid, Joe Biden's, Ray Attrill, Biden, Brad McMillan, Jarrod Kerr, Caroline Valetkevitch, Kevin Buckland, Rae Wee, Ira Iosebashvili, David Gregorio, Lincoln Organizations: New York Stock Exchange, REUTERS, Investors, U.S . House, Senate, Republican, National Australia Bank, Treasury, White, Commonwealth Financial Network, Thomson Locations: New York City, U.S, Tokyo, Singapore

☆ 4 financial tools that all parents should consider, whether their child is a newborn or a teen
▼ + stars: | 2023-06-01 | by ( Kelly Burch | ) www.businessinsider.com time to read: +5 min

Things such as life insurance and investments can help increase your child's financial security. These are the tools a financial planner said parents should consider. Get — or update — life insuranceHaving up-to-date life insurance is one of the most important things you can do to look out for your child. And that's the perfect time to open a Roth individual retirement account, a type of retirement savings account. "To determine what's best for them, parents should consider their financial goals, risk tolerance, and their child's potential needs," Lofton said.

Persons: Jenna Lofton, Lofton, doesn't, They'll, Roth, they're Organizations: College, Roth IRA

☆ Investors await crucial US debt ceiling vote
▼ + stars: | 2023-05-31 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

The S&P 500 closed down 0.6% on Wednesday in a decline some analysts pinned partly on remaining uncertainty over the vote. Debt ceiling concerns periodically weighed on stock markets over the last week, although most investors expected an 11th-hour agreement. Investors have viewed the possibility of a U.S. default as an unlikely but potentially catastrophic event for global markets. "Investors do think it's going to pass. McCarthy predicted that the vote, expected around 8:30 p.m. (0030 GMT), would succeed, telling reporters, "It's going to become law."

Persons: Alan B, ”, Brad McMillan, Kevin McCarthy's, Joe Biden's, Quincy Krosby, it's, McCarthy, Caroline Valetkevitch, Ira Iosebashvili, David Gregorio Our Organizations: U.S . House, Lancz, Associates Inc, Commonwealth Financial Network, Treasury, White, House Republicans, Kevin McCarthy's Republicans, Investors, Senate, LPL, Thomson Locations: U.S, “

[1/5] Arlo Brownlee, an engineer, checks battery banks at GlidePath's Byrd Ranch energy storage facility in Sweeny, Texas, U.S., May 23, 2023. The battery rush also puts the Republican-controlled state at the forefront of President Joe Biden's push to expand renewable energy use. Reuters drew on previously unreported data and interviewed more than a dozen executives from private equity firms, utility companies and energy storage providers involved in some of the biggest battery storage deals for this report. But the legislation also contains provisions that industry groups said could encourage investment in battery storage. Miller said he expects ancillary market prices to "collapse" as more battery storage comes online.

Persons: Arlo Brownlee, Adrees Latif, Rhett Bennett, ”, Joe Biden's, Wood Mackenzie, Andrew Waranch, David Miller, Miller, Waranch, Dick Lewis, Andrew Tang, Chris McKissack, you've, McKissack, Nichola Groom, Laila Kearney, Richard Valdmanis, Suzanne Goldenberg Organizations: REUTERS, Korea's SK, Switzerland's UBS, Black, Energy, Texans, Republican, Reuters, U.S . Energy Information Administration, Developers, BlackRock, Jupiter, EnCap Investments, Korea's SK E, Vision Ridge Partners, UBS, SK E, SK, Mercom Capital Group, Reliability, of Texas, Spearmint Energy, Inc, Wartsila, Thomson Locations: Sweeny , Texas, U.S, BlackRock, Texas, California, Gridmatic

☆ Investors relieved after US House votes to suspend debt ceiling; focus turns to Senate
▼ + stars: | 2023-05-31 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

Persons: Joe Biden's, Ray Attrill, Biden, Brad McMillan, Jarrod Kerr, Caroline Valetkevitch, Kevin Buckland, Rae Wee, Ira Iosebashvili, David Gregorio, Lincoln Organizations: Investors, U.S . House, Senate, Republican, National Australia Bank, Treasury, White, Commonwealth Financial Network, Thomson Locations: U.S, Tokyo, Singapore

☆ Despite world-beating growth, India's lack of jobs threatens its young
▼ + stars: | 2023-05-30 | by ( Ira Dugal | ) www.reuters.com time to read: +6 min

India's urban unemployment soared during the COVID-19 pandemic, reaching a high of 20.9% in the April-June 2020 quarter, while wages fell. Falling employment and earnings undermine India’s chances to fuel the economic growth needed to create jobs for its young and growing population. This means that of the estimated urban workforce of about 150 million, only 73 million have full-time jobs. But only 24 million will likely be created, leaving behind "46 million missing jobs." "From that lens, a growth rate of 6.5% will solve a third of India’s jobs problem," Bhandari wrote.

☆ Factbox: How megacap stocks fared after hitting $1 trillion in market cap
▼ + stars: | 2023-05-30 | by ( ) www.reuters.com time to read: +1 min

[1/3] The Apple Inc logo is seen at the entrance to the Apple store in Brussels, Belgium November 28, 2022. REUTERS/Yves HermanNEW YORK, May 30 (Reuters) - A mammoth run in shares of Nvidia Corp (NVDA.O) has vaulted the chipmaker into a rarified club: U.S. companies that have reached $1 trillion in market value. Nvidia's market cap ended at about $990.7 billion on Tuesday, according to Reuters data, after hitting $1 trillion during the session. While Apple has ascended to even greater heights, touching $3 trillion in market cap at one point, Meta Platforms (META.O), which was formerly Facebook, and Tesla (TSLA.O), have since fallen below the level after they reached $1 trillion at separate points in 2021. Here is a look at the other six trillion-dollar companies and where their market values stand now:Reporting by Lewis Krauskopf, Lance Tupper and Noel Randewich; Editing by Ira Iosebashvili and David GregorioOur Standards: The Thomson Reuters Trust Principles.

Persons: Yves Herman NEW, Lewis Krauskopf, Lance Tupper, Noel Randewich, Ira Iosebashvili, David Gregorio Our Organizations: Apple, REUTERS, Yves Herman NEW YORK, Nvidia Corp, Facebook, Thomson Locations: Brussels, Belgium

May 28 (Reuters) - Global investors are gaming out how a tentative deal to raise the United States debt ceiling could ripple through markets, as lawmakers strive to pass the agreement through Congress before a June 5 deadline. U.S. five-year credit default swaps narrowed, meaning that the cost of insuring against exposure to a U.S. debt default fell. “The debt ceiling agreement is only the first step in saving the government from the brink of illiquidity.”The deal suspends the debt ceiling until January 2025 in exchange for caps on spending and cuts in government programs. U.S. Treasury Secretary Janet Yellen on Friday set a deadline for raising the federal debt limit, saying the government would default if Congress does not increase the debt ceiling by June 5. Optimism that a debt ceiling deal was near and hefty gains in AI-related stocks helped the S&P 500 (.SPX) close at its highest level since August 2022 on Friday.

☆ How US allies can mitigate Trump 2.0
▼ + stars: | 2023-05-29 | by ( Hugo Dixon | ) www.reuters.com time to read: +7 min

LONDON, May 29 (Reuters Breakingviews) - A return to the White House by Donald Trump would create challenges for the world’s other rich democracies. TRUMP IN POLYCRISISBiden has painstakingly created a consensus with his core allies since Putin invaded Ukraine last year. PREPARE FOR THE WORSTThe world’s other rich democracies - call them the G6 - cannot change the outcome of the U.S. presidential election. Politicians in other rich democracies can also try to persuade Republican leaders that now is not the time to abandon Kyiv. If other rich democracies adopt a vigorous mitigation strategy now, they’ll be better prepared if Trump does return.

☆ What is a 529 plan? How you can score a tax break while saving for future college expenses
▼ + stars: | 2023-05-29 | by ( Kamaron Mcnair | In Kamaronmcnair | ) www.cnbc.com time to read: +7 min

And what better time to think about a college savings account than 529 College Savings Day? Unlike college costs, however, your 529 plan funds can only go toward tuition for primary and high school. On top of tax-free growth, some states allow taxpayers to deduct or get a credit for 529 plan contributions on their taxes. Drawbacks of 529 savings plansOne of the main drawbacks of saving in a 529 plan is that you owe a penalty if you use the funds for an ineligible expense. The Free Application for Federal Student Aid (FAFSA) does take 529 plan savings into account when determining your expected family contribution (EFC), but not at face value.

“The debt ceiling agreement is only the first step in saving the government from the brink of illiquidity.”The deal suspends the debt ceiling until January 2025 in exchange for caps on spending and cuts in government programs. U.S. Treasury Secretary Janet Yellen on Friday set a deadline for raising the federal debt limit, saying the government would default if Congress does not increase the debt ceiling by June 5. Optimism that a debt ceiling deal was near and hefty gains in AI-related stocks helped the S&P 500 (.SPX) close at its highest level since August 2022 on Friday. S&P Global Ratings stripped the United States of its coveted top rating over a debt ceiling showdown in 2011, a few days after a last-minute agreement the agency at the time said did not stabilize "medium-term debt dynamics." S&P Global Ratings, Fitch and Moody's did not immediately respond to Reuters requests for comment.

☆ Listen Early to This American Life: Jane Doe
▼ + stars: | 2023-05-27 | by ( New York Times Audio | ) www.nytimes.com time to read: 1 min

The New York Times Audio app includes podcasts, narrated articles from the newsroom and other publishers, and exclusive new shows that we’re making available to readers for a limited time. Download the audio app here. Our new audio app is home to “This American Life,” hosted by Ira Glass. New episodes debut in our app a day earlier than the regular podcast feed, and we’ve also got an archive of the award-winning program. The app’s “Best of This American Life” section includes acts from the show broken down into bite-size clips.

☆ Northern Irish police charge seven men in detective shooting case
▼ + stars: | 2023-05-27 | by ( ) www.reuters.com time to read: +1 min

BELFAST, May 27 (Reuters) - Seven men have been charged with the attempted murder of senior Police Service of Northern Ireland (PSNI) detective John Caldwell, according to a police statement. Two men aged 28, and five men aged 33, 38, 45, 47 and 72, have been charged with attempted murder. I would like to thank the PSNI for their efforts and the progress they have made in the case," Britain's Northern Ireland minister Chris Heaton-Harris said on Twitter. All seven men are expected to appear before Dungannon Magistrates Court on Monday. Three of the men, aged 28, 33 and 47, have also been charged with preparation of terrorist acts.

SEOUL, May 26 (Reuters) - South Korea's Hyundai Motor Group and LG Energy Solution Ltd (LGES) (373220.KS) on Friday said they will build a $4.3 billion electric vehicle (EV) battery plant in the United States amid a push to take advantage of tax credits. Vehicles from Hyundai Motor Co (005380.KS) and sister automaker Kia Corp (000270.KS) are currently not eligible. [1/2] The logo of Hyundai Motor Company is pictured at the New York International Auto Show, in Manhattan, New York City, U.S., April 13, 2022. LGES and Hyundai Motor Group, which houses Hyundai Motor, Kia and autoparts maker Hyundai Mobis Co Ltd (012330.KS), will each own 50% of the joint venture. In April, Hyundai Motor finalised a $5 billion EV battery joint venture in the United States with SK On, a battery unit of SK Innovation Co Ltd (096770.KS), boosting electrification efforts in its largest market.

☆ Hyundai Motor Group, LG Energy to build $4.3 bln EV battery plant in US
▼ + stars: | 2023-05-26 | by ( ) edition.cnn.com time to read: +1 min

South Korea’s Hyundai Motor Group and LG Energy Solution Ltd on Friday said they will build a $4.3 billion electric vehicle (EV) battery plant in the United States amid a push to take advantage of tax credits. Vehicles from Hyundai Motor Co and sister automaker Kia Corp are currently not eligible. Hyundai Motor Group, the world’s third-largest automaker by vehicle sales, is building EV and battery manufacturing facilities in Bryan County in the state, where its joint factory with LGES will be based. LGES and Hyundai Motor Group, which houses Hyundai Motor, Kia and autoparts maker Hyundai Mobis Co Ltd, will each own 50% of the joint venture. In April, Hyundai Motor finalized a $5 billion EV battery joint venture in the United States with SK On, a battery unit of SK Innovation Co Ltd, boosting electrification efforts in its largest market.

Persons: LGES, ”, Youngsoo Kwon Organizations: Hyundai Motor Group, LG Energy, EV, Vehicles, Hyundai Motor Co, Kia Corp, Hyundai, Kia, Hyundai Mobis Co, Tesla, General Motors, Hyundai Motor, SK, SK Innovation Co Locations: United States, Georgia, Bryan County, America

☆ These 4 stocks could double in price — including one tech giant, says financial research firm
▼ + stars: | 2023-05-25 | by ( Weizhen Tan | ) www.cnbc.com time to read: +4 min

Some corners of the market may have been overbought this year, but there are still long-term opportunities for investors, according to financial research firm Redburn. Redburn analysts have chosen 12 companies where changes in the competitive or financial environment or management action could realise outsize value for shareholders," Redburn wrote in a May 23 report. Vestas Redburn said it believes Danish wind turbine manufacturer Vestas is set for a "return to double-digit margins." "While there are inflationary pressures in some areas, supply-chain cost and performance are clearly improving and raw material costs are well below recent peaks," the firm wrote. Sabre Redburn sees a "clear path" for shares of Sabre , a travel tech company, to "more than double."

Persons: Redburn, Vestas Redburn, Vestas, Bill Anderson, –, Bayer, Sabre Redburn, — CNBC's Michael Bloom Organizations: Amazon Web, Bayer, Sabre Locations: United States, Europe, China

☆ Car crashes into Downing Street where U.K. Prime Minister Rishi Sunak lives
▼ + stars: | 2023-05-25 | by ( Henry Austin | ) www.cnbc.com time to read: +2 min

Police officers work at the site where a car crashed into the front gates of Downing Street in London, Britain, May 25, 2023. Armed police on Thursday arrested a man after a car was driven into the gates of Downing Street where Britain's Prime Minister Rishi Sunak and several other senior politicians reside. Video footage posted on social media showed a silver hatchback car heading straight for Downing Street's gates at a slow speed across Whitehall, the main thoroughfare in London's government district. Downing Street's gates are manned by armed and unarmed police officers at all times. In 1991 the IRA fired three mortars at the street, one of which exploded in the backyard of No.

Persons: Rishi Sunak, Sunak, Downing, Simon Parry, John Major Organizations: Britain's, Metropolitan Police, Associated Press, Britain's Press Association, Irish Republican Army, Islamic State Locations: Downing, London, Britain, Whitehall, London's

☆ Americans’ outlook on retirement darkens to an 11-year low
▼ + stars: | 2023-05-24 | by ( Matt Egan | ) edition.cnn.com time to read: +4 min

Just 43% of nonretired adults think they will have enough money to live comfortably when they retire, according to Gallup. The percentage of adults expecting to live comfortably in retirement is down by five percentage points over the past year and ten percentage points since 2021. A record-low 19% of lower-income adults expect to live comfortably, according to Gallup, which began tracking these measures in 2002. 36% of middle-income adults expect to retire comfortablyYounger Americans are more optimistic about their retirement outlook, with 54% of those aged 18 to 29 saying they expect to have enough money to live comfortably. Those awaiting retirement expect to be forced to rely more on 401(k), IRA and other retirement savings accounts.

Persons: Gallup, Mohamed Younis, ”, Younis, Joe Biden, George W, Bush Organizations: CNN, Gallup, “, Social Security, University of Michigan, —

☆ Australia gets U.S. backing for critical minerals industry
▼ + stars: | 2023-05-22 | by ( ) www.reuters.com time to read: +2 min

MELBOURNE, May 22 (Reuters) - Australia has won the support of the United States for development of its critical minerals industry after the two countries reached an agreement to coordinate polices and investment to support the industry's growth. Australia supplies around half of the world's lithium as well as other minerals like rare earths used in batteries for electric cars and defence, and is also setting itself up as a major hydrogen producer. The agreement paves the way for Australian suppliers of these minerals, and renewable energy, to be treated as domestic suppliers under the U.S. Defence Production Act, Australian Prime Minister Anthony Albanese said on Sunday. "This is about creating an enormous opportunity for Australia and I can't underline how significant this is," Albanese told press at the Quad Leaders Summit in Hiroshima. The compact will establish climate, clean energy and a shared energy industrial base as a central pillar of the Australia-United States Alliance, they said.

☆ Op-ed: Why cash is king for emergency funds and queen for short-term savings
▼ + stars: | 2023-05-22 | by ( Stacy Francis | ) www.cnbc.com time to read: +6 min

You would have been lucky to find a high-yield savings account paying out 1%-2% at that time. Where to keep your emergency cashAn emergency fund is a cash cushion of roughly three to six months of living expenses. American Express High Yield Savings and Barclays Online Savings Account are highly competitive. The easiest way to reach this goal is to automatically have a portion of your paycheck directed toward your emergency or short-term savings fund. Your emergency fund and short-term savings should be directed toward something other than your everyday checking or savings account.

☆ Italy's Enel to invest more than $1 billion in an Oklahoma solar panel factory
▼ + stars: | 2023-05-22 | by ( ) www.cnbc.com time to read: +2 min

Italy's Enel said on Monday it will invest more than $1 billion in a solar cell and panel factory in Oklahoma, seeking to capitalize on the U.S. push to build a homegrown clean energy manufacturing sector to compete with China. The facility will be among the largest to produce solar equipment in the United States, where most projects are built with imported panels. It is also one of the first U.S. factories to produce silicon-based solar cells on a large scale. The investment is one of the biggest in solar manufacturing since the passage of U.S. President Joe Biden's landmark climate change law, the Inflation Reduction Act (IRA), last year. Enel, which had first said last year it planned to build a U.S. solar factory, selected a site in Inola, Oklahoma, near Tulsa.

☆ Italy's Enel to invest more than $1 bln in Oklahoma solar panel factory
▼ + stars: | 2023-05-22 | by ( Nichola Groom | ) www.reuters.com time to read: +3 min

[1/2] A logo of Italian multinational energy company Enel is seen at the Milan's headquarters, Italy, February 5, 2020. The facility will be among the largest to produce solar equipment in the United States, where most projects are built with imported panels. It is also one of the first U.S. factories to produce silicon-based solar cells on a large scale. The investment is one of the biggest in solar manufacturing since the passage of U.S. President Joe Biden's landmark climate change law, the Inflation Reduction Act (IRA), last year. Enel, which had first said last year it planned to build a U.S. solar factory, selected a site in Inola, Oklahoma, near Tulsa.

☆ 'Market instability' possible before last-minute debt ceiling deal, JPMorgan says
▼ + stars: | 2023-05-22 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +3 min

The looming potential of a federal debt default could soon cause a sharp increase in fear in the stock market, according to JPMorgan Chase. "Our base case remains that the debt ceiling ultimately does get lifted/suspended though the journey to that end could be at the eleventh hour and drive significantly higher market instability than appreciated by the market currently," Lakos-Bujas wrote. as a consequence of partial/comprehensive debt ceiling deal and/or Federal budget negotiation in the fall of this year," Lakos-Bujas wrote. One way for investors to guard against a sharp move in stocks is to buy call spreads on the CBOE Volatility Index (VIX) , often called Wall Street's fear index. .VIX 1Y mountain The Cboe Volatility Index is trading near its lowest level of the past year.

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