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☆ A key inflation gauge showed price hikes slowed last month. But economic jitters remain
▼ + stars: | 2024-08-13 | by ( Alicia Wallace | ) edition.cnn.com time to read: +2 min

CNN —US wholesale inflation slowed as expected in July, easing after an unexpected flare-up the month before. On a monthly basis, prices rose 0.1%, a slower pace than the 0.2% increase seen in June. Economists had expected that prices would increase 0.2% on a monthly basis and slow to 2.3% annually, according to FactSet estimates. The modest monthly increase in the overall PPI was attributed to a 0.6% jump in goods prices, according to the BLS report. When stripping out energy and food prices — categories that also tend to be volatile — core PPI prices were flat for the month, bringing down the annual gain to 2.4%, its lowest since March.

Persons: Price Organizations: CNN, of Labor Statistics, PPI, BLS, CPI

☆ Japan to benefit from a stronger yen and unwinding of carry trade, Monex Group's Koll says
▼ + stars: | 2024-08-13 | by ( Dylan Butts | ) www.cnbc.com time to read: +2 min

In this article 8301.T-JP Follow your favorite stocks CREATE FREE ACCOUNTwatch nowCorrections in the yen and the unwinding of the carry trade are positive developments for Japan, said Jesper Koll, a veteran investor who remains bullish on the Japanese market. The yen carry trade began unwinding last week, as interest rate hikes by the Bank of Japan strengthened the yen, and led to a sharp sell-off in markets globally. Stock Chart Icon Stock chart icon U.S. dollar/Japanese yen"It is correct to put a price on money. According to Koll, it's possible that as much as 75% of the yen carry trade could have been unwound, though the total size of the carry trade has not been reliably ascertained. Stock Chart Icon Stock chart icon Nikkei 225

Persons: Jesper Koll, …, CNBC's, unwinding, it's, Koll, Claude Trichet Organizations: Monex, Bank of Japan, Nikkei, European Central Bank Jean, CNBC, U.S ., Bank of Locations: Japan, U.S

☆ Secret to Startup Success: Being an Obnoxious Risk-Taker
▼ + stars: | 2024-08-13 | by ( Nate Silver | ) www.businessinsider.com time to read: +11 min

Of the billionaires on the 2023 Forbes 400 list — the 400 richest people in the United States — 70% are basically self-made. In 1982, only 40% of the Forbes 400 had started their own business; the majority were simply scions of inherited wealth. The Forbes 400, however, is the extreme right tail of the curve. But you're not sniffing the Forbes 400 list, where the bidding starts at about $3 billion. I don't think VCs are deliberately picking founders they think are unreliable, although sometimes it seems like it.

Persons: Raj Chetty, That's, Chamath Palihapitiya, Palihapitiya, Josh Wolfe, Wolfe, Elon Musk, Thiel, Jeff Bezos, we're, Sam Bankman, Andreessen Horowitz, A16z, Adam Neumann, Neumann, WeWork, Marc Andreessen, Ben Horowitz, Horowitz, they've, Benchmark's Gurley, Gurley, Nate Silver Organizations: Forbes, United States —, Social Capital, Burger, Lux, VCs, New York Times, Penguin Press, Penguin Publishing, Penguin Random Locations: United States, America, Sri Lanka, Canada, Coney, Israeli, Silicon, Canyon Point , Utah

☆ Whoever can finally coin an effective economic message could win the White House
▼ + stars: | 2024-08-13 | by ( Stephen Collinson | ) edition.cnn.com time to read: +10 min

CNN —Voters keep telling pollsters that their economic insecurities are the biggest issue in the 2024 election. Former President Donald Trump will try to make a case against Kamala Harris’ role in the Biden economy on Wednesday in North Carolina. President Joe Biden dedicated his domestic agenda to restoring economic fairness and sought to revive manufacturing and repair the country’s crumbling infrastructure. As the effective incumbent in this race, Harris is vulnerable to any sudden shifts in the economic outlook. But with Trump seeking an opening to define her negatively — especially on the economy — Harris must act fast.

Persons: Donald Trump, Kamala Harris, Biden, Trump, Joe Biden, Harris, Kamala, He’s, Price, “, Biden Administration’s, ”, —, ” Harris, ” Trump, hasn’t, “ You’ve, Scott Jennings, Anderson Cooper, “ You’re, Brad Todd, CNN’s Kasie, he’s, ” Todd, Kevin McCarthy, Elon Musk, Sen, JD Vance, Harris ’, Bill Clinton, Barack Obama, Clinton, Obama, Obama –, –, — Harris, Tim Walz, She’s Organizations: CNN — Voters, Trump, Home Depot, Republican, Democratic, Biden, CNN, Fox News, Air Force, Democratic National Convention, NPR, PBS, Marist, New York Times, Siena College, Minnesota Gov, pharma Locations: North Carolina, Asheville , North Carolina, Maryland, Raleigh, Ohio, Chicago, Nevada, Phoenix, California, States, Pennsylvania, Michigan, Wisconsin

☆ Investors are missing gains by passing on the market's least-loved stocks, investing legend Rob Arnott says
▼ + stars: | 2024-08-13 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

A portfolio of stocks booted from indexes would make an investor 74 times wealthier between 1991 and 2023, the research said. Authors Rob Arnott and Forrest Henslee announced the creation of NIXT, a fund that tracks deletions. The firm's founder and investing legend Rob Arnott and vice president Forrest Henslee wrote that stocks dropped by an index outperform for at least five years with remarkable persistence. After being deleted from an index, nixed stocks can outdo the market by an average of 5% a year. When an index decides to remove an asset, it's essentially creating excessive selling momentum, Arnott wrote.

Persons: Stocks, Rob Arnott, Forrest Henslee, —, Arnott, That's Organizations: Research Affiliates, Service, Nasdaq, Research

☆ Why a Goldman Sachs portfolio manager avoids small-cap indexes, and his 6 top individual stock picks
▼ + stars: | 2024-08-13 | by ( Christine Ji | ) www.businessinsider.com time to read: +3 min

Read previewAfter over two years of underperformance, it seems like small-cap stocks are finally poised to take off. Because there is such a wide variety of small-cap companies, Tuorto believes investors have to do some digging to identify the best opportunities. Some of the best opportunities are way, way down in cap. Healthy small-cap companies have a clear path to profitability and reinvest cash back into their business to drive growth, he said. Tuorto's top small-cap picksBelow are Tuorto's top six picks for high-quality small-cap companies with strong fundamentals and market caps under $10 billion.

Persons: —, Russell, Greg Tuorto, Tuorto, Goldman Sachs Organizations: Service, Goldman Sachs Asset Management, Business, Big Tech, Nvidia, Core Equity ETF

LONDON — European stocks are expected to open higher Tuesday, regaining some positive momentum after last week's volatility. The U.K.'s FTSE index is seen opening 26 points higher at 8,233, Germany's DAX up 18 points at 17,288, France's CAC 40 up 14 points at 7,259 and Italy's FTSE MIB 62 points higher at 32,084, according to data from IG. European stocks closed mixed on Monday as forthcoming U.S. and U.K. inflation data dominated investor attention. U.K. wage data released by the Office for National Statistics on Tuesday showed that pay excluding bonuses grew 5.4% year-on-year between April and June — the lowest rate in two years. U.K. inflation data, due on Wednesday, will be the first print since the BOE cut interest rates by 25 basis points.

Persons: Germany's DAX, Jack Kennedy, BOE Organizations: LONDON, CAC, IG, Office, National Statistics, Reuters, Bank of England, U.S Locations: France, Spain, Italy

☆ Wholesale inflation measure rose 0.1% in July, less than expected
▼ + stars: | 2024-08-13 | by ( Jeff Cox | ) www.cnbc.com time to read: +1 min

A key measure of wholesale inflation rose less than expected in July, opening the door further for the Federal Reserve to start lowering interest rates. Excluding volatile food and energy components, core PPI was flat. A further core measure that also excludes trade services showed an increase of 0.3%. Trade services prices fell 1.3% while margins for machinery and vehicles wholesaling tumbled 4.1%. An increase of 2.3% in portfolio management offset some of the decline in services prices.

Persons: Dow Jones Organizations: Federal Reserve, Labor Department's Bureau of Labor Statistics, PPI, BLS, Trade Locations: Brooklyn, New York City

☆ Home Depot may need an interest rate cut to boost its sales
▼ + stars: | 2024-08-13 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +3 min

That waiting game has only intensified with a potential interest rate cut in sight. "What our customers tell their pros is, 'Everything I read tells me interest rates will be lower in three to six months,'" McPhail said. An interest rate cut could help move the needle for Home Depot as sales slow. The Federal Reserve has dropped hints that an interest rate cut could come soon. Even with an interest rate cut, Decker said, "people still might pause a little bit until some of this gets sorted out."

Persons: Richard McPhail, McPhail, Ted Decker, Jerome Powell, Decker, —, Diana Olick Organizations: Federal, CNBC, Depot, Mortgage News Locations: El Cerrito , California

☆ What needs to happen to keep the market comeback going — plus, our new Starbucks price target
▼ + stars: | 2024-08-13 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

New PT for Starbucks: The standout in the market Tuesday is Starbucks , which is up 22%. The announcement is also winning over Wall Street, with three firms already upgrading their rating on Starbucks' stock to a buy or buy-equivalent. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Stocks, Laxman Narasimhan, Brian Niccol, Baird, Piper Sandler, " Cowen, Brinker, Jim Cramer's, Jim Organizations: CNBC, New, Starbucks, Wall, Bar, Brinker International, Cardinal Health, Jim Cramer's Charitable

☆ The 10 most affordable places to live in the U.S. based on quality of life, the job market and more
▼ + stars: | 2024-08-13 | by ( Celia Fernandez | ) www.cnbc.com time to read: +1 min

To afford life in a big city like San Francisco, California, you'd have to make double what most Americans earn, according to a May Moody's Analytics analysis. U.S. News and World Report released its ranking of the cities with the lowest cost of living, based on the median gross rent and annual housing costs for mortgage-paying homeowners. The ranking used data from sources including the U.S. Census Bureau, the FBI and the U.S. Department of Labor. The data was categorized into four indexes:Quality of life: How satisfied residents are with their daily livesHow satisfied residents are with their daily lives Value: How comfortably the average resident of each city can afford to live within their meansHow comfortably the average resident of each city can afford to live within their means Desirability: Which ranked cities people would most like to liveWhich ranked cities people would most like to live Job market: The strength of each city's job marketEach index was given a score of 0-10.

Organizations: . News, U.S . Census Bureau, FBI, U.S . Department of Labor Locations: San Francisco , California

☆ Oil prices ease as markets refocus on demand worries
▼ + stars: | 2024-08-13 | by ( ) www.cnbc.com time to read: +2 min

Oil prices edged lower on Tuesday, breaking a five-day streak of gains, as markets refocused on concerns about demand after OPEC on Monday cut its forecast for demand growth in 2024 due to softer expectations in China. Oil prices edged lower on Tuesday, breaking a five-day streak of gains, as markets refocused on concerns about demand after OPEC on Monday cut its forecast for demand growth in 2024 due to softer expectations in China. Global benchmark Brent crude futures dipped 41 cents, or 0.5%, lower to $81.89 a barrel at 0005 GMT. U.S. West Texas Intermediate crude futures fell to $79.63 a barrel, down 43 cents, or 0.5%. Brent had gained more than 3% on Monday, while U.S. crude futures had risen more than 4%.

Persons: Brent, John Kirby, CME's Organizations: Brent, . West Texas, of, Petroleum, White House, Wednesday's, U.S Locations: China, Iran, United States

☆ Jim Cramer: What Starbucks shareholders should do after 20% stock pop on CEO change
▼ + stars: | 2024-08-13 | by ( Paulina Likos | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. There were many Wall Street upgrades of Starbucks stock following the change. Jim Cramer said he's happy about the switch and remains committed to Starbucks shares. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER .

Persons: Jim Cramer, Morgan, Laxman Narasimhan, He's, Brian Niccol, he's, Jim, Mizuho, Morgan Stanley, Palo, Jim Cramer's Organizations: CNBC, Federal Reserve, Nasdaq, Tuesday's PPI, Nvidia, Starbucks, Palo Alto Networks Locations: Palo Alto

☆ JPMorgan's guide to trading two huge economic reports this week
▼ + stars: | 2024-08-13 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

On Thursday, traders get the latest reading on the state of the consumer with retail sales data for July. Hot CPI and inline retail sales (up 0.1% to 0.5%) — JPM believes that a hot CPI print and retail sales matching expectations could fuel "stagflation risks." Expect the S & P 500 to gain and Nasdaq and Russell to perform similarly. Inline CPI and cool retail sales — How much equities move in this outcome depends on the magnitude of the downside surprise in retail sales. In this scenario, traders expect a broadening in the market that includes the S & P 500 gaining.

Persons: Dow Jones, Jerome Powell, Jackson, — JPM, Russell, JPM Organizations: Federal, JPMorgan, CPI, Wall, Federal Reserve, Bank of, Nasdaq, Russell

☆ Don't get too excited about this latest inflation report
▼ + stars: | 2024-08-13 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

Stocks had a strong showing Tuesday after the latest U.S. wholesale inflation report came out. In other words, just because PPI rose less than expected, it doesn't mean investors should expect a tame CPI report on Wednesday. "Financial markets seem to react too much every month to PPI," said Stanley, the bank's chief economist. " The S & P 500 closed Tuesday's session nearly 2% higher, while the Nasdaq Composite climbed 2.4%. The major averages are now well above the lows seen in Aug. 5, when the Dow and S & P 500 suffered their biggest one-day pullbacks since 2022.

Persons: Stocks, Stephen Stanley, Stanley, Dow, David Russell, We're Organizations: ISI, PPI, Santander U.S, CPI, Federal Reserve, Nasdaq, Dow Jones Industrial

☆ Dollar tenses for data verdict on rate cut risks
▼ + stars: | 2024-08-13 | by ( ) www.cnbc.com time to read: +2 min

The greenback was idling at 147.17 yen , having briefly touched a one-week high of 148.23 overnight before profit-taking emerged. More important will be the consumer price report and retail sales for July which could have a material impact on whether the Fed eases by 25 basis points or 50 basis points in September. The former outcome would likely lift Treasury yields and support the dollar, while the latter would have the opposite effect. The futures market clearly still sees recession as a risk with 101 basis points of Fed easing priced in by Christmas, and more than 120 basis points for next year. "Although the trend is moderating, inflation is too high for the Fed to justify the market pricing 100bp of rate cuts between September and year-end."

Organizations: Federal Reserve, JPMorgan, Swiss, Atlanta Fed, ANZ

☆ A trade that wins if the drop in Chipotle after CEO jumps to Starbucks is overdone
▼ + stars: | 2024-08-13 | by ( Nishant Pant | ) www.cnbc.com time to read: +3 min

Chipotle Mexican Grill (CMG) shares are getting wrecked after its CEO Brian Niccol left to try and turn around Starbucks. With a positive outlook on CMG, I see this pre-market drop as an opportunity to invest in a company that seems almost recession-proof. The trade To initiate a bullish position on CMG, I plan to use a strategy known as a "bull call spread." This trade was written assuming Chipotle was trading around $51 a share. If CMG trades at or above the short strike by the expiration date, this trade could yield a return of 100% on the amount risked.

Persons: Brian Niccol, let's, Chipotle Organizations: Grill, CNBC, NBC UNIVERSAL Locations: Chipotle

☆ Stock market today: Indexes climb as producer inflation comes in cool
▼ + stars: | 2024-08-13 | by ( Max Adams | ) www.businessinsider.com time to read: +4 min

Stocks were higher on Tuesday after PPI showed wholesale inflation was less than expected in July. Investors are now bracing for the consumer inflation reading due out on Wednesday. AdvertisementUS stocks were up on Tuesday after the producer price index for July showed wholesale inflation rose less than expected. Data from the Bureau of Labor Statistics showed that producer prices increased 0.1% last month compared to estimates of 0.2%. The cooler-than-expected reading should boost optimism for consumer prices to show a decline in inflation when the consumer price index is released on Wednesday.

Persons: —, Chris Zaccarelli, Laxman Narasimhan, Brian Niccol, Elon Musk Organizations: PPI, Investors, Service, Bureau of Labor Statistics, Federal Reserve, Fed, Depot, Bank of America, Starbucks, Trump Media, Elon

☆ How to determine if this comeback rally is for real, according to the charts
▼ + stars: | 2024-08-13 | by ( Todd Gordon | ) www.cnbc.com time to read: +4 min

Stocks have made a nice comeback after testing support last week in the wake of a violent summer swoon tied to the yen carry trade. I run four equity portfolios at Inside Edge Capital, the most actively managed is appropriately named "Active Opps." In this article I'll cover the technical formation of the resistance zone as well as the option hedge we're using. If this is an ill-fated rally, or a so-called bear market rally, my bet is it will fail around this zone. BEFORE MAKING ANY FINANCIAL DECISIONS, YOU SHOULD STRONGLY CONSIDER SEEKING ADVICE FROM YOUR OWN FINANCIAL OR INVESTMENT ADVISOR.

Persons: Nvidia's, Todd Gordon Organizations: Edge, Nasdaq, Inside Edge, CNBC, NBC UNIVERSAL

☆ Australia's second-quarter wages rise at slowest pace in a year
▼ + stars: | 2024-08-13 | by ( ) www.cnbc.com time to read: +2 min

Australian wages rose at their slowest pace in a year in the June quarter, falling short of expectations, while softer gains in the private sector suggest the labor market was easing. "The RBA will be somewhat relieved to see wage pressures subsiding," said Sean Langcake, head of macroeconomic forecasting for Oxford Economics Australia. "However, absent an improvement in productivity growth, the current pace of wage growth is still a little too strong for inflation to return to target quickly." The overall increase in annual wages was still just enough to take it above inflation of 3.6%, a welcome return to real pay growth after years of negative outcomes. Incomes will get an added boost from a major round of tax cuts that started in July.

Persons: Sean Langcake Organizations: Australian Bureau, Statistics, Oxford Economics Australia, Reserve Bank of Australia

☆ The 10 best companies that hire, promote and train high school graduates: 'It's a launchpad for your career'
▼ + stars: | 2024-08-13 | by ( Alex Koller | ) www.cnbc.com time to read: +3 min

U.S. high school graduates looking for entry-level work might consider starting out at a company appearing on a new ranking from the American Opportunity Index. Released earlier this month, the list named 50 large companies as the best places for people with a high school diploma to launch their careers. The index scored companies based on three metrics: how likely they are to hire entry-level employees, promote them from within and set them up to land better-paying jobs when they leave. "We didn't see a whole lot out there for the 40% of high school graduates who aren't going off to post-secondary education immediately — most of whom have to find some sort of work," he continues. Rather than survey the companies, the index analyzed the career paths of around 5 million workers from 2018 until 2022 to make its assessment.

Persons: who've, Rajiv Chandrasekaran, aren't, Chandrasekaran Organizations: American, Schultz, Foundation, American Opportunity, Glass Institute, Harvard Business School, Walgreens, Financial Services, Gap Inc, Goodyear Tire, Starbucks Retailers, CNBC

☆ Wednesday's big CPI inflation report could mark a change in thinking for the Fed
▼ + stars: | 2024-08-13 | by ( Jeff Cox | ) www.cnbc.com time to read: +5 min

watch nowThe PPI report, seen as a gauge of wholesale inflation, showed prices up just 0.2% in July and about 2.2% from a year ago. Still, investors are looking for the Fed at its September meeting to start cutting interest rates, considering that inflation is weakening and so is the labor market. Another benign inflation report "makes the Fed completely comfortable that they can shift their focus away from inflation and toward labor," said Tom Porcelli, chief U.S. economist at PGIM Fixed Income. There are cracks forming in the labor market backdrop." "I'm as curious about [Wednesday's] inflation report as anyone else, but I think it would take a real outlier to change the Fed's tune from 1) shifting to labor as its focus, and 2) seriously thinking about cutting in September," Porcelli said.

Persons: Jim Baird, Plante, Baird, Dow Jones, there's, Tom Porcelli, Porcelli Organizations: Walmart, Labor Department, Federal Reserve, Financial Advisors, PPI, Fed, Traders

As the Fed lowers its benchmark rate, mortgage rates are expected to decrease further. This would likely remove a substantial amount of upward pressure off of mortgage rates. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's interest rates will affect your monthly payments. 15-Year Fixed Mortgage RatesAverage 15-year mortgage rates fell to 5.63% last week, according to Freddie Mac data. Mortgage rates increased dramatically over the last two years, but they're expected to go down at some point this year.

Persons: they're, you'll, Freddie Mac, it's Organizations: Federal Reserve, Traders, Zillow Locations: Chevron

☆ 3 data points that could impact how big of a Fed rate cut the market gets next month
▼ + stars: | 2024-08-13 | by ( Zev Fima | ) www.cnbc.com time to read: +6 min

Management blamed "higher interest rates and greater macroeconomic uncertainty" for pressuring consumer spending on home improvement projects. The recent data certainly supports the idea of a rate cut at the Fed's mid-September meeting. However, that's weeks away, we know things can turn on a dime in the data and the stock market. Lower rates can certainly impact the stock market — but when it comes to picking individual stocks, we remain focused on earnings. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Thursday's, Stanley Black, Decker, Stifel, bode, Russell, Jim Cramer's, Jim Cramer, Jim, Spencer Platt Organizations: Nasdaq, PPI, Management, Dow, Home Depot, Trade, Costco, Depot, CNBC, New York Stock Exchange, Getty Locations: U.S, New York City

☆ Lack of purpose may predict cognitive decline, study finds
▼ + stars: | 2024-08-13 | by ( Kristen Rogers | ) edition.cnn.com time to read: +7 min

Well-being and cognitive declineMore research is needed due to the lack of diversity in this study, which also includes the fact that participants were volunteers from communities with higher levels of education, the study authors said. It’s possible that poor well-being may lead to cognitive impairment and vice versa. On one hand, greater well-being may lower risk for cognitive impairment and dementia by mitigating the effects of Alzheimer’s disease processes on cognition, the authors said. Positive well-being has been associated with lower levels of inflammatory cytokines and lower cardiovascular risk, which can reduce risk of cognitive impairments. Compared with participants who remained cognitively intact, those who developed cognitive impairment were more likely to be older and have lower body mass index (BMI) and lower psychological well-being.

Persons: ”, Angelina Sutin, Sutin wasn’t, White —, “, Glen R, Finney, Finney wasn’t, ” Sutin, ” Finney, Sutin, — Organizations: CNN, Neurology Neurosurgery, Psychiatry, Florida State University College of Medicine, Alzheimer’s Association Locations: Illinois, Pennsylvania

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