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☆ No current plan for the UAE to leave OPEC oil alliance, sources say
▼ + stars: | 2023-03-06 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +2 min

The OPEC logo pictured ahead of an informal meeting between members of the Organization of the Petroleum Exporting Countries (OPEC) in Algiers, Algeria. The United Arab Emirates does not intend to leave the influential OPEC oil alliance at this time, two senior officials with knowledge of the matter told CNBC, after a recent report signaled internal talks over such a departure. The UAE oil ministry and Adnoc, the state-owned oil company of the United Arab Emirates, did not immediately respond to CNBC requests for comment. On March 3, the Wall Street Journal reported that rising political disagreements between OPEC+ chair Saudi Arabia and the UAE have once more sparked questions over the latter's future in the producers' coalition. The front-month Nymex WTI contract was at $78.72 per barrel, lower by 96 cents per barrel from the previous settlement price.

☆ Inside the fierce debate over clean hydrogen, with $100 billion in federal subsidies on the line
▼ + stars: | 2023-03-03 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +13 min

The impact of the tax credit on emissions reductions depends on how federal agencies implement it. On one side of the debate, some energy providers say that making the rules too strict could kill the clean hydrogen industry before it ever gets off the ground. CERAWeek returned in-person to Houston celebrating its 40th anniversary with the theme "Pace of Change: Energy, Climate, and Innovation." This hourly approach to energy accounting has been adopted by Google, which has been a forerunner in adopting clean energy, for example. In the long run, Garabedian says, his stance is about protecting his company, the industry's reputation, and the tax credit.

☆ A 'perfect storm' of recession, debt, and out-of-control inflation is coming for markets this year, 'Dr. Doom' Nouriel Roubini says
▼ + stars: | 2023-03-02 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

A recession, debt crisis, and stagflation trifecta is going to strike the US economy this year, according to Nouriel Roubini. Roubini, known for his doomsayer predictions on Wall Street, has warned for months that another financial crisis will hit markets. Roubini, one of the first economists to call the 2008 recession, has been warning for months of a stagflationary debt crisis, which combines the worst aspects of 70s-style stagflation and the '08 debt crisis. The result would be a steep recession anyway, followed by more debt and inflation problems. "Now we're facing the perfect storm: inflation, stagflation, recession, and a potential debt crisis," Roubini warned.

☆ New Zealand's Auckland braces for ex-cyclone Gabrielle impact
▼ + stars: | 2023-02-12 | by ( ) www.cnbc.com time to read: +2 min

Residents of New Zealand's biggest city were urged on Sunday to prepare for the impact of a storm that buffeted Australia's Norfolk Island overnight. Gabrielle, downgraded to a sub-tropical low pressure system from a Category 2 cyclone, passed over Norfolk Island, its "most destructive winds" missing the island, the Australian outpost's emergency management authority said. Wind and rain were "starting to spread across NZ from the north", with a 133 kph (83 mph) wind gust reported overnight on the country's North Island, MetService said. The storm was on track to lie off Cape Reinga at the North Island's north end on Sunday afternoon, after moving away from Norfolk Island, MetService said. "There is still considerable clean up to be undertaken and it may take a while for services such as power to be restored," Emergency Management Norfolk Island said.

☆ Iconic Kobe Bryant jersey sells for record $5.8 million at auction
▼ + stars: | 2023-02-09 | by ( Jessica Golden | ) www.cnbc.com time to read: +1 min

A jersey that belonged to late basketball star Kobe Bryant, expected to fetch between 5-7 million USD, is displayed at Sotheby's auction house in New York on February 1, 2023. An iconic Kobe Bryant jersey from his MVP season sold for $5.8 million on Thursday, setting a new record. The previous sale record for any item of Kobe Bryant sports memorabilia was set by a game-worn and autographed basketball jersey from the 1996-1997 season, which sold for $3.7 million in 2021. Sotheby's previously estimated the jersey would sell for between $5 million and $7 million. Sotheby's in September sold Michael Jordan's 1998 "Last Dance" jersey for $10.1 million, a record-breaking auction in its own right.

☆ Banks’ Golden Deposits Could Turn Back to Lead
▼ + stars: | 2023-02-07 | by ( Telis Demos | ) www.wsj.com time to read: 1 min

Bank stocks have been sizzling this year, but they should be handled with care. The latest earnings season for banks was marked by rising loss reserves and depressed Wall Street revenue, plus the view in some corners that interest rates might not keep rising for long—a trifecta of what is typically rough news for bank stocks. But the market seems to have liked what lenders have reported. The KBW Nasdaq Bank index has gained almost 14% this year, close to double the S&P 500’s rally.

☆ Morning bid: Markets go all in for disinflation
▼ + stars: | 2023-02-02 | by ( Wayne Cole | ) www.reuters.com time to read: +3 min

SYDNEY, Feb 2 (Reuters) - A look at the day ahead in European and global markets from Wayne Cole. The very first question in the new conference invited him to scold markets, and he notes conditions had tightened a lot last year. A pdf search of the conference shows disinflation or disinflationary was used 13 times, compared to twice at his December event. Key developments that could influence markets on Thursday:- BoE rate decision is at 1200 GMT and the ECB at 1315 GMT. BoE Gov Bailey speaks to reporters at 1230 GMT and ECB President Lagarde at 1345 GMT.

☆ ChatGPT has gone viral. Now Wall Street is flocking to AI.
▼ + stars: | 2023-02-02 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

Today's newsletter covers everything you want to know about how the viral ChatGPT language tool is colliding with the world of Wall Street. Wall Street is clamoring to ride the ChatGPT wave, and investors are pouring into anything that has exposure to the budding artificial intelligence sector. A batch of obscure small-cap bot stocks have made sizable gains, and certain Chinese AI stocks have climbed 60% in a matter of weeks. The stock market just hit a rare trifecta of bullish indicators. The stock market rally will fade as the Fed combats inflation and a recession hits, according to a Credit Suisse strategist.

☆ Analysis: Hawkish Fed could hobble volatility funds’ stock buying spree
▼ + stars: | 2023-02-01 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +4 min

The S&P 500’s (.SPX) 6.2% surge in January has been accompanied by a drop in measures of volatility across the board. The drop in market gyrations has triggered a buy-signal for certain computer-driven strategies including volatility control funds, risk parity funds and Commodity Trading Advisors (CTAs). Volatility control funds have raised their equity allocation to a nine-month high of 57.7%, strategists at Deutsche Bank wrote on Friday. Grinacoff, of BNP Paribas, estimates volatility control funds have assets of about $275 billion, while CTAs, not all of which have a volatility control strategy, as a group have $800 billion allocated across strategies. "Market volatility measured by VIX remains stuck above the 18 level, which is its long-term average.

☆ Palfrey: The health of the market rally has really been led by speculative assets
▼ + stars: | 2023-02-01 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPalfrey: The health of the market rally has really been led by speculative assetsCredit Suisse's Patrick Palfrey discusses whether the January trifecta -- the "Santa Claus Rally," "First Five Days" and "January Barometer" -- sets the markets up for strong gains for the rest of the year.

☆ California’s Recipe for More Homeless
▼ + stars: | 2023-01-28 | by ( The Editorial Board | ) www.wsj.com time to read: 1 min

La La Land really is paradise—at least for people who don’t want to pay rent. Los Angeles County this week extended its Covid eviction ban another two months. Meantime, the Los Angeles City Council has approved rules that will make it harder for landlords to evict tenants once (and if) the county moratorium ends. The Supreme Court struck down the Biden Administration’s Covid eviction ban in August 2021, but the counties and cities of Los Angeles have extended theirs again and again even as other pandemic restrictions have lifted. The L.A. County Board of Supervisors had last extended the ban to the end of January owing to a “respiratory illness trifecta.”

☆ My 7-month-old baby has had COVID, flu, and RSV. I'm angry, but I also know I did my best.
▼ + stars: | 2023-01-27 | by ( Samantha Smith | ) www.businessinsider.com time to read: +4 min

I'm a mom of four kids.The youngest is 7 months oldHe spent his early weeks behind two baby gates, away from his siblings. RSV at 3 months, flu at 5 months, and COVID at 6 months. Our son, Fox, was exposed to COVID the day he was born. Fox spent a lot of time safely stowed in the bassinet behind two baby gates — a place where both he and the dog felt protected. I know I did my best to keep him healthyFox spiked his first fever with the flu.

☆ BMO downgrades Ralph Lauren shares after 50% rally, citing 'domestic pressures'
▼ + stars: | 2023-01-27 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

Ralph Lauren 's 50% rally in the past four months has gone too far, too fast, according to BMO Capital Markets, which downgraded the stock Friday to underperform. Siegel suspects the decline of North American margins may be due to increased marketing spending, supply chain pressures, and consumer questions regarding the average selling price of items. BMO questions whether the current level of Ralph Lauren shares—which are close to pandemic peaks—can be sustained, given the changes in consumer spending during 2021. Shares for Ralph Lauren fell 3.23% in Friday premarket trading following the call. Ralph Lauren reports results on February 9.

☆ Ron DeSantis just notched a win in court. But the judge says he still violated a prosecutor’s free speech rights.
▼ + stars: | 2023-01-20 | by ( Marc Caputo | Marc Caputo Is A Senior National Political Reporter For Nbc News. | ) www.nbcnews.com time to read: +15 min

In a statement posted on Twitter, DeSantis' office lauded the ruling without addressing those nuances. By suspending Warren, DeSantis also elevated the Democrat’s political profile in his own party. And no one in Hillsborough County was charged with violating that state law when Warren was the county prosecutor. Court testimony from DeSantis administration officials showed that the abortion letter was the major cause of Warren's suspension. Abortion was the only issue mentioned in the first draft of DeSantis' suspension order.

☆ Maryland Gov. Wes Moore Gives Democrats Full Control Over State’s Government
▼ + stars: | 2023-01-19 | by ( Scott Calvert | ) www.wsj.com time to read: +1 min

Maryland Gov. Wes Moore will preside over a new Democratic trifecta—control of the state’s House of Delegates, Senate and governor’s office. BALTIMORE— Wes Moore , the new governor of Maryland, said he wants to fast-track a minimum-wage increase, replenish the ranks of short-handed state agencies and boost education funding in the heavily Democratic state, which for the past eight years was led by a highly popular Republican. Mr. Moore, a 44-year-old Democrat, has been a Rhodes scholar, an Army officer deployed to Afghanistan, a Wall Street banker, a bestselling author and the chief executive of an antipoverty foundation. Mr. Hogan left office with a 77% approval rating and the backing of 81% of Democratic voters, which Maryland pollster Patrick Gonzales, a Democrat, attributed at least in part to Mr. Hogan’s relatively moderate political profile and personal connection with voters.

☆ Wall Street is feeling bearish, but a rare stock market pattern is hinting at a bull rally to kick off 2023.
▼ + stars: | 2023-01-18 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

Traders gather on the floor of the New York Stock Exchange, Friday, March 18, 2016. There is little optimism for stocks among Wall Street's foot soldiers, according to the latest fund manager survey from Bank of America. As BofA pointed out, that means the so-called "pain trade" in the stock market is higher, and any sudden rally would catch investors off-guard. But Wall Street survey be damned, stocks seem to be on the brink of a rare, bullish trifecta. The surge has pushed the world's most largest crypto token to levels not seen since before the fall of FTX.

With the Amex trifecta — Platinum, Gold, and Blue Business Plus — you can supercharge your Membership Rewards points earning. Why earn Amex Membership Rewards points? For all these reasons, I'm focused on earning as many Membership Rewards points as I can right now. Earn 5X Membership Rewards® Points for flights booked directly with airlines or with American Express Travel up to $500,000 on these purchases per calendar year and earn 5X Membership Rewards® Points on prepaid hotels booked with American Express Travel. Earn 4X Membership Rewards® Points at Restaurants, plus takeout and delivery in the U.S., and earn 4X Membership Rewards® points at U.S. supermarkets (on up to $25,000 per calendar year in purchases, then 1X).

☆ Traders don't want to believe the Fed, so get used to a lot of choppiness
▼ + stars: | 2023-01-10 | by ( Bob Pisani | ) www.cnbc.com time to read: +3 min

Then Fed officials get on the tape say they're going to keep raising rates and keep them high until hell freezes over. Atlanta Fed President Raphael Bostic on Monday said the central bank should raise interest rates above 5% and stay there for "a long time." Inflation data continues to show signs of cooling, but it's still high, and the Fed doesn't want to declare victory so they keep jawboning the markets down. The source of tension is that the trading community doesn't want to believe the Fed, and many are arguing the Fed is using stale data. "Wall Street does not believe the story being spun by the Fed," Harry Katica from Saut Strategy told his clients.

The new House GOP majority returns to elect a speaker after failing on three votes Tuesday. ... Nancy Pelosi reacts to GOP dysfunction: “As one who loves this institution, I think it’s a sad day.” ... And President Biden appears with Senate GOP Leader Mitch McConnell to tout the bipartisan infrastructure law. Andy Beshear) all appear at an event in Kentucky promoting a bridge improvement from the bipartisan infrastructure law. 16: How many years Senate Minority Leader Mitch McConnell has served as Senate GOP leader, making him the longest-serving Senate leader ever, per NBC News’ Frank Thorp. Eyes on 2024: DeSantis takes office amid GOP chaosAs the GOP descended into chaos on Capitol Hill Tuesday, Florida GOP Gov.

Note that credit card lenders may use many different variations of credit score models when considering your application. Note that credit card lenders may use many different variations of credit score models when considering your application. Note that credit card lenders may use many different variations of credit score models when considering your application. Review: Capital One SavorOne reviewCredit cards for college graduates frequently asked questions (FAQ)What happens to my college credit card when I graduate? If you're new to credit, you can check out Insider's guide to building credit with credit cards to help you improve your credit history faster.

The Citi Premier is offering 80,000 points (worth at least $800), but this elevated bonus won't be around much longer. Citi; InsiderThe Citi Premier® Card has been offering a record-high elevated bonus since last summer, but it's about to end. If you've had your eye on the record-high welcome bonus on the Citi Premier® Card, it's your last chance to apply. Insider's valuations peg Citi ThankYou points as worth 1.6 cents apiece, on average, so this bonus is potentially worth $1,280 in travel. You can find out all the details in our Citi Premier card review.

☆ The tech we couldn’t live without in 2022
▼ + stars: | 2022-12-23 | by ( Cnn Staff | ) edition.cnn.com time to read: +8 min

CNN —Bone conduction headphones, TV streaming devices and Bluetooth speakers are among the tech gadgets topping holiday wish lists this year. Other notable products – ahem, the new 14 Pro and 14 Pro Max – are near impossible to find. Since my move to New York, I’ve had to find all new favorite spots for good food and drinks. – Victor Blackwell, co-anchor of CNN NewsroomHBO MaxNow that I commute home at the ungodly hour of 1 a.m., I lean heavily on my HBO Max app (starts at $9.99 a month). – Samantha Kelly, CNN senior tech writerRev.comI remember being an intern over a decade ago logging half hour long interviews for producers.

So yeah, I’m proud of it,” McConnell said, hailing it as an “extremely important” win for conservatives. He said it’ll mean they no longer “pay a ransom on the domestic side” in order to secure hefty military spending. Senate Majority Whip Dick Durbin, D-Ill.. said he’s “disappointed” in the unequal spending levels but argued that the Kentucky Republican was using his leverage. Senate Majority Leader Sen. Chuck Schumer, D-N.Y., speaks alongside Sens. Democrats say McConnell was pushing for deals due to the rising support in the Democratic Party in recent years to end the filibuster.

☆ Here are the 4 best investing opportunities in 2023, according to the investment chief at Goldman Sachs' $1.8 trillion asset management arm
▼ + stars: | 2022-12-22 | by ( James Faris | ) www.businessinsider.com time to read: +5 min

Goldman Sachs is expecting weaker growth in 2023 as interest rates stay elevated. Here's why the firm is optimistic about emerging markets and willing to invest in China. Instead, the investing chief at GSAM prefers emerging markets equities and debt in 2023. "It's had the trifecta of rising US rates, strong US dollar, and weaker growth," Shah said. Within emerging markets, Shah is most bullish on stocks in Asia, specifically India and China.

It could be the last major bill that passes this year before Republicans seize control of the House on Jan. 3. He has pressured GOP lawmakers to vote against it, forcing Democrats to supply most of the votes to pass it in the House. Capitol Hill leaders decided to attach the election bill and Ukraine aid to ease the process of passage, on the belief that the combined package has the votes to pass. For Republicans, one incentive to pass the bill now is that it funds the military at a higher level than the nondefense budget. “This is a strong outcome for Republicans,” Senate Minority Leader Mitch McConnell, R-Ky., said, arguing that the GOP persuaded Democrats to back down on their long-standing demand for “parity” between the two pots of money.

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