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☆ Want to cash in on China's reopening? Bank of America and UBS have some less obvious stock picks
▼ + stars: | 2023-01-26 | by ( Zavier Ong | ) www.cnbc.com time to read: +4 min

China's unwinding of its strict Covid-19 controls has got analysts scrambling to identify reopening beneficiaries in the stock market. But there could be another way to play the reopening, with Bank of America and UBS having identified a raft of less obvious beneficiaries outside of China. UBS' stock picks Thai hospitality group Minor International is one of UBS' top picks. Within Thailand, UBS also named rail transit operator BTS Group, expressway and metro operator Bangkok Expressway & Metro, as well as Bangkok Bank as reopening beneficiaries. Student placement provider IDP Education, as well as property groups Lendlease Group and Mirvac Group also made the UBS list.

☆ Gold steadies near nine-month peak with spotlight on U.S. data
▼ + stars: | 2023-01-26 | by ( ) www.cnbc.com time to read: +1 min

Gold prices hit a nine-month high on Thursday before trading steady, as investors hunkered down for U.S. economic data that could influence the Federal Reserve's policy tightening path. Spot gold was flat at $1,944.96 per ounce, as of 0244 GMT, after hitting its highest since April 2022. "The key question for investors will be how much dollar will strengthen and how this will impact gold prices in near-term." Investors will also scan the U.S. weekly initial jobless claims data due later in the day and U.S. personal consumption expenditures (PCE) data on Friday. Spot silver fell 0.2% to $23.85 per ounce, platinum lost 0.4% to $1,035.16, and palladium was down 0.2% to $1,695.29.

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☆ Billionaire investor Ray Dalio slams the US debt ceiling – and compares politicians who support raising it to binge-drinking alcoholics
▼ + stars: | 2023-01-26 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

Bridgewater Associates co-CIO Ray Dalio has slammed the US debt limit as "a farce". "It works like a bunch of alcoholics who write laws to enforce drinking limits," he said. "We all know that there is no real debt limit because what is called a debt limit never actually limits the debt," the Bridgewater Associates CIO wrote in a LinkedIn post published Wednesday. Congress has acted 78 separate times to extend the debt limit since 1960, according to the Treasury Department. Read more: A US debt default or even a near-nonpayment could plunge the economy into recession, top Goldman Sachs economist says

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☆ Grammy-winning artist Ne-Yo on a Kennedy Center event honoring his career in music
▼ + stars: | 2023-01-26 | by ( John Lynch | ) www.businessinsider.com time to read: +14 min

Insider spoke to Ne-Yo in an interview tied to a Kennedy Center event for his music with the National Symphony Orchestra. The Grammy-winning artist reflected on his career in music, film, and TV, and his hit songwriting for other artists. So I'm developing a love for it that I don't know if it'll ever equal my love for music. That's love, bro. And that's kind of what my music has always been, you know, letting it be known to the people listening, "Yeah.

☆ Prince Andrew wants to overturn his multi-million settlement with Virginia Giuffre. Experts say it's a 'foolhardy effort.'
▼ + stars: | 2023-01-25 | by ( Ashley Collman | ) www.businessinsider.com time to read: +5 min

Prince Andrew wants to overturn his settlement with Virginia Giuffre, according to news reports. Giuffre claims Epstein sex-trafficked her to Andrew when she was 17 years old. Representatives for the prince and Giuffre did not immediately respond to Insider's requests for comment on Wednesday. Overall, Filitti described the idea of trying to overturn the settlement as a "foolhardy effort." "If Prince Andrew wants to rehabilitate his image, perhaps he should do so in a way that doesn't remind the public about the seamier aspects of his private life," Filitti said.

☆ Gold holds tight range ahead of U.S. economic data
▼ + stars: | 2023-01-25 | by ( ) www.cnbc.com time to read: +1 min

Gold prices traded in a tight range on Wednesday as investors stayed away from taking big bets ahead of U.S. economic growth data this week, while expectations of slower interest rate hikes from the Federal Reserve kept bullion's outlook bright. Spot gold was steady at $1,937.09 per ounce, as of 0249 GMT, after hitting its highest since late April 2022 on Tuesday. Most investors are expecting the Fed to raise rates by 25 basis points (bps) at its policy meeting next week. With lower interest rates translating into lesser returns on interest-bearing assets like government bonds, investors may prefer zero-yield gold. Data showed on Tuesday Swiss exports of gold to countries including China, Turkey, Singapore and Thailand surged to multi-year highs in 2022.

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☆ Premarket stocks: ESG funds had a terrible year but traders kept investing anyway
▼ + stars: | 2023-01-23 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

New York CNN —ESG funds — investments that evaluate companies using environmental, social and governance factors — just survived a tumultuous 2022. That increased scrutiny also played into political differences around ESG investing and opened the door to vocal critics. Responsible investing funds also came up against mighty economic headwinds. These funds’ outsized investments in tech stocks and lack of energy stocks (which was the only positive sector this past year), led to a noticeable losses for ESG funds in general last year. On a global scale, ESG funds also attracted positive investment flows even as money was pulled from broader funds, according to Refinitiv Lipper data provided exclusively to Before the Bell.

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☆ Janet Yellen says 'it's not a given that the Fed would' accept a $1 trillion platinum coin to save the US from economic catastrophe
▼ + stars: | 2023-01-23 | by ( Ayelet Sheffey | Juliana Kaplan | ) www.businessinsider.com time to read: +5 min

Treasury Secretary Janet Yellen dismissed minting a $1 trillion platinum coin to save the US from default, per the WSJ. Minting a coin would allow the government to bypass negotiations in Congress to raise the debt ceiling. The GOP is currently using the debt limit as a negotiating tool to achieve their own priorities. But Treasury Secretary Janet Yellen wasn't on board with that idea in the past — and she still isn't. She expressed the same sentiment back in 2021, when Congress was dealing with a similar partisan dilemma surrounding raising the debt ceiling.

☆ Janet Yellen Dismisses Minting $1 Trillion Coin to Avoid Default
▼ + stars: | 2023-01-22 | by ( Andrew Duehren | ) www.wsj.com time to read: 1 min

U.S. Treasury Secretary Janet Yellen is a former chair of the Federal Reserve and meets regularly with central bank’s current leader. LUSAKA, Zambia—Treasury Secretary Janet Yellen said the Federal Reserve likely wouldn’t accept a $1 trillion platinum coin if the Biden administration tried to mint one to avoid breaching the debt limit, dismissing an idea that has been floated to circumvent Congress on the issue. Some Biden administration officials and Democrats on Capitol Hill have discussed the possibility that the Treasury could use an obscure law authorizing platinum coins in the event of a potential default. Under the proposed scheme, the Treasury would mint a $1 trillion coin and deposit it at the Fed, and then draw the money to pay the country’s bills.

☆ A professional housekeeper swears by these 6 cleaning products—and they start at just $2
▼ + stars: | 2023-01-22 | by ( Alexandra Hayes Robinson | ) www.cnbc.com time to read: +3 min

If you've ever found yourself down the social media rabbit hole of deep house cleaning, you've probably heard of Vanessa Amaro, TikTok's "Queen of Cleaning." Zote Soap BarPrice: Starts at $2 "As a child, my grandma would give me a Tupperware filled with water, my socks, and a bar of Zote soap," Amaro recalls. Dawn Platinum Powerwash Dish Spray SoapPrice: Starts at $4.99 Amaro loves Dawn's Powerwash spray soap because of its versatility. Clorox Clean-Up Cleaner With BleachPrice: Starts at $4.48 For a disinfectant, Amaro's brand of choice is Clorox's all purpose bleach spray cleaner. And the Centers for Disease Control and Prevention agrees: Disinfecting can kill viruses and bacteria that remain on surfaces after cleaning.

☆ The Best Balance Transfer Credit Card With No Balance Transfer Fees
▼ + stars: | 2023-01-21 | by ( ) www.wsj.com time to read: +6 min

Wings Visa Platinum’s free balance transfers, along with up to 12 months of 0% APRs on purchases and balance transfers are why Buy Side from WSJ named this card its Best Balance Transfer Card No Balance Transfer Fees. That’s because unlike most other balance transfer credit cards, the Wings Financial Visa Platinum card charges no balance transfer fee. The Wings Visa Platinum card works best if you can afford to pay down your transferred credit card balances within a year. How we pickedTo pick Buy Side from WSJ’s Best Balance Transfer Credit Card, we looked for no-annual-fee credit cards offering balance transfers for new customers with 0% APR promotions. We preferred credit cards with longer balance transfer promotional periods and lower balance transfer initiation fees.

☆ Gold set for fifth straight weekly rise on Fed slowdown bets
▼ + stars: | 2023-01-20 | by ( Ashitha Shivaprasad | ) www.reuters.com time to read: +2 min

Spot gold was little changed at $1,930.04 per ounce, as of 0308 GMT and was up 0.5% for the week. With lower rates translating into lesser returns on interest-bearing assets like government bonds, investors may prefer zero-yield gold. The dollar index was headed for a second consecutive weekly drop, making bullion cheaper for overseas buyers. Both metals headed for a second straight week of declines. Reporting by Ashitha Shivaprasad in Bengaluru; Editing by Rashmi Aich and Eileen SorengOur Standards: The Thomson Reuters Trust Principles.

☆ We could soon be facing the biggest financial crisis in history as Republicans threaten to stop paying America's bills
▼ + stars: | 2023-01-19 | by ( Ayelet Sheffey | Juliana Kaplan | ) www.businessinsider.com time to read: +11 min

Republicans are using the debt ceiling as leverage to achieve spending cuts on Democratic priorities. But failing to raise the debt ceiling by the summer could cause the US to default on its debt. Consequences of default are dire, and Biden has urged the GOP to not bargain with the debt limit. "Failure to raise the debt limit will not reduce our debt, but it would wreck the economy if it led to a default. "When you talk about the trillion dollar platinum coin, it sounds very silly — and it is really silly!"

☆ Gold rises on tepid U.S. dollar, safe-haven inflows
▼ + stars: | 2023-01-19 | by ( ) www.cnbc.com time to read: +2 min

Gold rings displayed at the Korea Gold Exchange store in Seoul, South Korea. Gold prices fell on Monday, as the dollar held on to gains following U.S. Federal Reserve Chair Jerome Powell's signal that the central bank will raise interest rates further to tame sky-high inflation. Gold prices rose nearly 1% on Thursday, supported by a weaker dollar and some safe-haven demand as weak U.S. economic readings and hawkish comments from Federal Reserve officials fueled recession worries. U.S. gold futures rose 1.41% to $1,933.90.."There is flight to safety. Elsewhere, spot silver rose 1.72% to $23.8292 per ounce, platinum fell 0.45% to $1,033.3007 and palladium jumped 2.18% to $1,775.8759.

☆ Gold edges higher as investors weigh Fed slowdown chances
▼ + stars: | 2023-01-19 | by ( Ashitha Shivaprasad | ) www.reuters.com time to read: +2 min

Spot gold was up 0.1% at $1,906.01 per ounce, as of 0252 GMT. U.S. gold futures fell 0.1% to $1,906.00. Few Fed officials signalled on Wednesday that they would push on with more interest rate hikes, while Philadelphia Fed President Patrick Harker and Dallas Fed President Lorie Logan said they supported a slower pace of tightening. Lower interest rates tend to boost bullion's appeal as they decrease the opportunity cost of holding the non-yielding asset. Spot silver lost 0.2% to $23.38 per ounce, platinum was flat at $1,038.38, and palladium fell 0.1% to $1,716.13.

☆ Gold slips as dollar gains momentum
▼ + stars: | 2023-01-18 | by ( Ashitha Shivaprasad | ) www.reuters.com time to read: +2 min

SummarySummary Companies Gold will bounce around $1,900 level in near term - analystBarrick set to report highest quarterly gold output for 2022Jan 18 (Reuters) - Gold prices inched lower on Wednesday as the U.S. dollar firmed, while expectations of a slowdown in the pace of Federal Reserve interest rate hikes limited the losses. A stronger dollar tends to make gold more expensive for buyers holding other currencies. If the narrative continues to be that inflation is cooling and interest rates will come down, then it will be bullish for gold." FEDWATCHLower interest rates tend to be beneficial for bullion, decreasing the opportunity cost of holding the non-yielding asset. On the physical front, Canadian miner Barrick Gold Corp (ABX.TO) reported on Tuesday a 13.4% sequential rise in gold production in what could be its highest quarterly output last year.

☆ Gold nudges lower as Fed members bat for higher interest rates
▼ + stars: | 2023-01-18 | by ( ) www.cnbc.com time to read: +2 min

Gold prices held steady near the key psychological level of $1,800 per ounce on Monday, supported by a pullback in the dollar and U.S. Treasury yields. Gold prices turned negative on Wednesday, erasing gains made on weak U.S. economic data yet staying above the $1,900 level, as key members of the Federal Reserve signaled their intent to keep pushing interest rates higher to combat inflation. The dollar pared losses from near multi-month lows and held steady, making gold less attractive for other currency holders. Spot gold fell 0.2% to $1,904.84 per ounce by 1:45 p.m. Earlier in the day, U.S. producer prices fell more than expected in December as the costs of energy products and food declined, offering evidence that inflation was slowing.

☆ Gold prices dip as firmer dollar dulls appeal
▼ + stars: | 2023-01-17 | by ( Ashitha Shivaprasad | ) www.reuters.com time to read: +2 min

SummarySummary Companies (.DXY) up 0.3%Silver will outperform gold in 2023-analystJan 17 (Reuters) - Gold prices inched lower on Tuesday, weighed by an uptick in the dollar, although hopes of slower interest rate hikes by the Federal Reserve capped further losses. On Monday, prices hit $1,929, the highest since late-April 2022. A stronger dollar turns gold less attractive to buyers with other currencies. "Expectations of the Fed slowing pace of rate hikes has been supporting gold. The U.S. central bank slowed its pace of rate hikes to 50 bps in December after four consecutive 75 bps increases.

☆ Gold prices fall from multi-month highs
▼ + stars: | 2023-01-17 | by ( ) www.cnbc.com time to read: +2 min

A display of gold ornaments at a gold shop in Chinatown, Bangkok, Thailand, 10 March 2022. Gold prices on Tuesday fell from a more than eight-month peak hit in the previous session on hopes that the U.S. Federal Reserve would adopt a less aggressive approach to rate hikes going forward. Spot gold fell 0.7% to $1,904.87 per ounce after hitting its highest since the end of April on Monday. With lower rates translating into lesser returns on interest-bearing assets such as government bonds, investors may prefer zero-yield gold. "We expect gold prices to trend around $1,950/oz in 2023," Goldman Sachs said in a note dated Friday.

☆ Gold steadies near 9-month peak on hopes of slower Fed rate hike
▼ + stars: | 2023-01-16 | by ( ) www.cnbc.com time to read: +2 min

A five hundred gram gold bar, left, and a a one kilogram gold bar, produced by Swiss manufacturer Argor Hebaeus SA, in Budapest, Hungary. Gold prices steadied after climbing to their highest in nearly nine months on Monday, as a softer dollar and expectations of slower interest rate hikes from the U.S. Federal Reserve added to bullion's shine. Earlier in the session, prices hit $1,929 per ounce, a peak since late April. "The growing adoption of green energy sources continues to favor fabrication demand for silver ... Silver bar and coin demand continued to be high," ANZ said in a note. "We expect silver to perform well, in tandem with gold, as investors look for cheaper alternatives to gold."

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