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☆ CNBC Daily Open: Don’t get too bullish yet
▼ + stars: | 2023-06-12 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. The S&P 500 inched up 0.11%, the Dow Jones Industrial Average added 0.13% and the Nasdaq Composite climbed 0.16%. The S&P had four straight weeks of gains, but more significantly, it's up 20% from its October low. "Everything we own in our portfolios, we're stressing for a couple quarters of -3% to -5% real GDP," Michele said.

Persons: Stephen Suttmeier, everyone's, JPMorgan's Michele, FactSet, Michele Organizations: NYPD Emergency Service Unit, Financial, CNBC, Dow Jones, Nasdaq, General Motors, Bank of America, Federal Locations: Manhattan , New York City

☆ Data giant Snowflake is building a marketplace for retail media data
▼ + stars: | 2023-06-12 | by ( Ryan Joe | ) www.businessinsider.com time to read: +4 min

Data giant Snowflake is building a marketplace for retail media data. Data giant Snowflake is building a marketplace for retail media data as it tries to grab a bigger piece of the $80 billion retail media market. Investing in retail media is a top priority for Snowflake, said Rosemary DeAragon, the company's global head of retail and CPG. There's sharp competition in the ad industry to grab as much retail media share as possible, while the market is still relatively nascent. While tech giants like Amazon and Google have their own clean room offerings, they don't field a retail media data marketplace.

Persons: Snowflake, Chase cardmembers, Rosemary DeAragon, Myles Younger, Damian Garbaccio, who've, haven't, Morgan Stanley, Criteo, Shiv Gupta Organizations: Affinity Solutions, Affinity, IRI, Nielsen, Walmart, Google, Amazon Locations: Snowflake

☆ CNBC Daily Open: Bull market? Not really
▼ + stars: | 2023-06-12 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +1 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. The S&P 500 inched up 0.11%, the Dow Jones Industrial Average added 0.13% and the Nasdaq Composite climbed 0.16%. In sum: Despite calls that we're in a new bull market, it's not so certain, especially since the S&P is still more than 10% off its all-time high. Keep an eye out for the consumer price index and the Federal Open Market Committee meeting this week for clearer signs on whether the S&P is really on track to welcome the bulls.

Persons: Stephen Suttmeier, everyone's, JPMorgan's Michele, FactSet Organizations: CNBC, Dow Jones, Nasdaq, Bank of America, Federal

☆ The 10 least affordable places to live if you're an expat in 2023
▼ + stars: | 2023-06-08 | by ( Reena Koh | ) www.businessinsider.com time to read: +5 min

New York, Hong Kong, and Geneva are the top 3 unaffordable cities to live in if you're an expat in 2023. Read further for the 10 least affordable places to live if you're an expat in 2023, ranked from the most expensive to the least expensive. Alberto MazzaThe average monthly rent for a four-room apartment in Geneva's city center is about $4,600. GettyThe median monthly rent for a two-bedroom flat in London touched a high of $2,895 in December, according to CNBC. JaCZhou 2015/Getty ImagesThe average monthly rent for a four-room apartment in the city center of Zurich sits at around $4,200, per The Local.

Persons: —, Lee Quane, Read, Sharp, ANTHONY WALLACE, Alberto Mazza, LondonlovesBusiness, Justin Sullivan, Alexander Spatari, Marielle, Allan Baxter, Tokyo Kantei Organizations: Service, York, ECA, Big Apple, NBC, New York Times, Getty, expats, Bloomberg, CNBC, San Francisco Bay Area, Jerusalem Post, Central Bureau of Statistics, CBS, South Korea Skyline, South, Financial Times Locations: . New York, Hong Kong, Geneva, London, Singapore, New York, Asia, expat, Manhattan, expats, NBC New York, China Hong, Switzerland, Geneva's, Swiss, NurPhoto, Zurich, San Francisco, US, San Francisco Bay, Tel Aviv, Israel, Jerusalem, Seoul, South Korea, South Korean, —, Korean, Tokyo, Japan

☆ New York overtakes Hong Kong as the most expensive city in the world for expats, new survey shows
▼ + stars: | 2023-06-08 | by ( Goh Chiew Tong | ) www.cnbc.com time to read: +4 min

Hong Kong has ended its four-year reign as the most expensive city globally for expatriates, according to a survey — as New York surpasses it to first place. Hong Kong has ended its four-year reign as the most expensive city globally for expatriates — surpassed by New York which took first place, according to a new survey. Hong Kong fell in our rankings as the increase in prices of day-to-day goods and services was tempered by falls in accommodation costs in the city. Lee Quane ECA InternationalStill, Hong Kong retained its position as the most expensive location in Asia. Reports suggest residents of Hong Kong left the city in droves last year — due to Covid-19 restrictions and what they see as an erosion of democratic norms.

Persons: —, Lee Quane Organizations: New, ECA, assignees, Lee, Asia, U.S . Federal, Urban Land Institute, ULI, Asia Pacific Centre for Housing, U.S ., San Locations: Hong Kong, New York, Asia, Singapore, Asia Pacific, Asia Hong Kong Singapore Seoul Tokyo Shanghai Guangzhou Shenzhen Beijing Taipei Yokohama, Shanghai, Guangzhou, Tokyo, Japan, York, U.S, San Francisco

☆ Premarket stocks: Main Street traders are taking big risks. They might not pay off
▼ + stars: | 2023-06-06 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

But Main Street isn’t listening. New data from TD Ameritrade shows that retail investors shrugged off US debt ceiling uncertainty and recessionary fears last month as they increased their exposure to markets. That index aggregates Main Street investor positions and activity to measure how they’re positioned in the market. Retail investors also piled out of AI and tech stocks as the sectors surged in May, opting instead to put their money into riskier bets. But these trades are risky and while an institutional investor might lose their job for making a big mistake, a Main Street trader could lose their shirt.

Persons: New York CNN — “, recessionary, Dow, they’ve, Alex Coffey, Ameritrade, “, ”, Coffey, Binance, Changpeng Zhao, Zhao, Gary Gensler, Hanna Ziady, Willie Walsh, ” Walsh, Walsh Organizations: CNN Business, Bell, New York CNN, Federal Reserve, First Republic Bank, Nasdaq, Research, CNN, PayPal, Disney, Coffey Retail, US Securities and Exchange Commission, SEC, Global, International Air Transport Association, Airlines Locations: New York, USA, bro

loadingWhile major social media platforms like Facebook, Twitter, and YouTube have made efforts to prohibit and remove deepfakes, their effectiveness at policing such content varies. In total, about 500,000 video and voice deepfakes will be shared on social media sites globally in 2023, DeepMedia estimates. Jon Smith, Republican chair for Michigan's 5th Congressional district, is holding several educational meetings so his allies can learn to use AI for social media and ad generation. Political consultancies are also seeking to harness AI, further muddying the line between real and unreal. Democratic polling and strategy group Honan Strategy Group is meanwhile trying to develop an AI survey bot.

☆ Despite all odds, consumers are still traveling this summer. Here are the stocks you need to own
▼ + stars: | 2023-05-26 | by ( Michelle Fox | ) www.cnbc.com time to read: +11 min

Yet despite all odds, 61% of those surveyed said they plan to travel this summer, up from the 49% who said the same in summer 2021. Some 56% of adults are more likely to stay in a hotel this summer than they were in 2022, according to the AHLA/Morning Consult survey. Booking Holdings is also an analyst favorite, with an average rating of overweight and 10% upside to the average price target, per FactSet. While prices are still high, the latest consumer price index for April showed the airline fares index fell 2.6% month over month, after rising in February and March. Airlines are essentially sold out for summer travel, according to TD Cowen analyst Helane Becker.

Persons: Matt Kramer, They're, You've, Sylvia Jablonski, Kramer, Freed, Bernstein, David Vernon, Price, Robin Farley, Farley, James Hardiman, Hardiman, Josh Weinstein's, RevPar, Tony Capuano, Chris Nassetta, Biden, Hilton, they've, Airbnb, Brian Chesky, it's, Evercore, Mark Mahaney, amortization, Mahaney, Cowen, Helane Becker, Becker, — CNBC's Michael Bloom, Ashley Capoot Organizations: KPMG, KPMG Consumer, Survey, Cruise ETF, Royal, Holdings, Marriott, United Airlines, Morning, American, & Lodging Association, Cruises, UBS, Citi, CCL, CNBC, Hilton Worldwide, U.S . Travel Association, State Department, Booking Holdings, Booking, Airlines, Delta Air Lines, Copa Holdings, Panamanian, Copa Airlines Locations: United States, Royal Caribbean, United, Caribbean, CocoCay, Thursday's, China, North America, Asia, Europe

☆ An 'unliveable shack that must be demolished' just sold for $1.1 million in Sydney after a bidding war. It shows how messed up Australia's housing market has become.
▼ + stars: | 2023-05-24 | by ( Nidhi Pandurangi | ) www.businessinsider.com time to read: +3 min

An "unliveable shack that must be demolished" in a Sydney suburb just sold for $1.1 million. The Australian property market has been on a red-hot streak — home prices rose for a second straight month in April. The pricing guide was AU$1.2 million, and bidding started at AU$1.25 million, according to a video of the bidding posted on YouTube. On May 18, a "dilapidated" home in Paddington, an upscale suburb in eastern Sydney, sold for AU$1.53 million, according to a news.com.au report. There were ten bidders for the "unliveable" three-bedroom house, which had been deemed too dangerous for inspections, per the report.

☆ Europe is producing more startup 'mafias' than ever despite tech rout
▼ + stars: | 2023-05-24 | by ( Ryan Browne | ) www.cnbc.com time to read: +3 min

The average time taken for a startup to hit unicorn status in Europe is now just seven years, according to Accel. Of the 353 "unicorn" companies in the region, 221 have spun out 1,171 new tech-enabled startup companies as employees at these firms left to start up their own ventures, Accel said, citing Dealroom data. Startup mafias have existed for decades. These "mafias," which are firms started by employees of other tech firms, have historically led to the creation of some of the largest tech companies known today. The largest cohort of newly established startup mafias comes from fintech, with almost 20% of European startups spun out of unicorns operating in the sector.

Persons: Accel, Elon Musk, Peter Thiel, Niklas Zennstrom, Taavet Hinrikus, I'd, Harry Nelis, Klarna, Wise Organizations: Accel, Spotify, PayPal, Elon, Ventures, Fund, Shell, Unilever, CNBC, Startup Locations: Europe, Israel, American, Silicon Valley, West Coast, Palo Alto, Netherlands, fintech

☆ Despite poor guidance, Snowflake CEO says he is optimistic about the future
▼ + stars: | 2023-05-24 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

After an earnings report that saw a beat on revenue but poor guidance, CEO of data cloud company Snowflake Frank Slootman was firm in his optimism about the company's future. "If you were to zoom out a little bit and say, 'let me take a five-year view of the growth here,' it is tremendous," Slootman told CNBC's Jim Cramer. Snowflake reported $624 million in fiscal first-quarter revenue on Wednesday, showing 48% growth year over year, and comfortably topped the consensus Refinitiv estimate of $608 million. The company CEO went so far as to say Snowflake is rapidly becoming an AI company as well as a data company. Snowflake also announced Wednesday that it was acquiring search startup Neeva, saying in a blog post that it will "infuse and leverage" the company's AI-equipped search products.

Persons: Frank Slootman, Slootman, CNBC's Jim Cramer, Snowflake

☆ Dr. Sanjay Gupta: Parenting in the era of ubiquitous screens and social media
▼ + stars: | 2023-05-20 | by ( Dr. Sanjay Gupta | ) edition.cnn.com time to read: +17 min

Other moves include laws that aim to tighten regulations on social media platforms in general, like those recently enacted by Arkansas and Utah. They are more likely to lie on their beds and scroll through endless social media feeds. Nowadays, she tells me, many teenagers feel an obligation to be on social media, or they will feel left behind. Lembke, who had her own struggles with problematic media use, told me, “Ten years from now, social media will not be what it is today. How to talk about screentimeNot sure how to start a conversation with your kids about internet and social media use?

Western lead buyers remain reliant on China's exports to smooth out the global supply chain. WESTERN MARKET STILL TIGHTChinese inflows have helped nudge LME stocks higher. U.S. buyers are paying up to 20 cents/lb ($440 per tonne) over the LME cash price to secure spot metal, according to Fastmarkets. Europe, however, should fare better this year thanks to the restart of the Stolberg lead smelter in Germany. The difference between the pace of production and usage recovery explains the narrowing global supply gap this year.

☆ Morning Bid: Debt ceiling jitters, Turkey vote, Soros ditches Tesla
▼ + stars: | 2023-05-15 | by ( ) www.reuters.com time to read: +4 min

President Joe Biden is meeting Congressional leaders on Tuesday to try to hash out a compromise to raise the debt limit and avoid a catastrophic default. A regulatory filing on Friday from the family office of George Soros showed the 92-year old billionaire investor has sold his entire stake in Tesla. Soros bought shares in the electric vehicle maker, run by Elon Musk, in 2022, as well as convertible bonds in 2018. Soros wasn't alone in pulling out of some of the pandemic-era darlings in the first three months of the year. Friday's regulatory filing showed he loaded up on other big tech stocks, including Netflix, Uber, chipmaker Qualcomm and cloud-based data company Snowflake - which fellow 92-year old investor Warren Buffett bought into back in 2020.

☆ Consumers in China are dining at nicer restaurants — even if it costs $500 a person
▼ + stars: | 2023-05-05 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

Despite the Covid-19 pandemic, a brand called Lu Style opened four new restaurants in the last three years in Beijing and Shanghai. Since Lu Style launched in 2016, more people no longer focus on just being able to eat, said Tian Junfeng, director of operations. Tian said Lu Style will be focused on improving customer service in the coming months. The 2023 rankings selected 304 restaurants — most of which were in China, including Lu Style. Two Lu Style locations have one Michelin star each, and the France-based guide includes more than 400 restaurants in mainland China.

☆ Amazon just poached a longtime Meta veteran to lead its growing adtech division
▼ + stars: | 2023-05-04 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +2 min

Amazon Advertising has hired Kelly MacLean as its VP of its ad buying platform. MacLean, who joined Amazon late last month, previously spent more than 11 years at Meta. Amazon Advertising has poached a longtime Meta executive to lead a key adtech division, Insider has learned. The Amazon DSP uses automation to let advertisers buy ads on Amazon properties like Amazon.com, Twitch, and IMDb, as well as elsewhere on the web. The Amazon DSP recently underwent an overhaul that was 18 months in the making to improve its machine-learning and predictive algorithms.

☆ Here are Thursday's biggest analyst calls: Apple, Western Alliance, Berkshire Hathaway, Wix & more
▼ + stars: | 2023-05-04 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

"We are initiating coverage of ZI with a BUY rating and a $30 target as a rare value investment within software. Citi upgrades Deutsche Bank to buy from neutral Citi said the global investment bank is at an "attractive entry point." " Deutsche Bank is one of the most de-rated banks YTD, yet the 1Q23 results demonstrated potential for further consensus earnings upgrades." Rosenblatt reiterates Apple as buy Rosenblatt said it's standing by its buy rating heading into earnings on Thursday after the bell. " CFRA reiterates Berkshire Hathaway as hold CFRA said it's standing by its "fairly valued" hold rating heading into Berkshire earnings on Saturday.

☆ Here are Wednesday's biggest analyst calls: Apple, Chewy, Disney, Wells Fargo, AMD, Coinbase & more
▼ + stars: | 2023-05-03 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Bank of America upgrades Pearson to buy from underperform Bank of America said the selloff in the British education company is overdone. Bank of America upgrades Cogent to buy from underperform Bank of America upgraded the internet services provider and says it sees "new sales growth." Bernstein upgrades Marriott to outperform from market perform Bernstein said the hotel giant has the "highest quality" earnings stream. " Evercore ISI reiterates Wells Fargo as outperform Evercore said it's sticking with the larger banks as regional concerns continue. Berenberg upgrades HSBC to buy from hold Berenberg said in its upgrade of the UK bank that it's "structurally attractive."

☆ An explosion of hidden 'junk fees' is making every home more expensive
▼ + stars: | 2023-05-03 | by ( James Rodriguez | ) www.businessinsider.com time to read: +15 min

The fee goes by many names: an administrative fee, a transaction fee, or even a "regulatory compliance" fee. Despite the controversy, all signs indicate that brokerages large and small have increasingly embraced the admin fee in recent years. The vast majority of real-estate agents are independent contractors who rely on commissions to earn a living. Admin fees may be one of the most polarizing topics among real-estate agents today. "I'm in a place in my business right now where I can justify paying that," the Las Vegas agent told me.

☆ Real estate agents are tacking ludicrous 'junk fees' on to every home purchase
▼ + stars: | 2023-05-03 | by ( James Rodriguez | ) www.businessinsider.com time to read: +15 min

☆ Where the trucking and rail recession is showing up in the economic data
▼ + stars: | 2023-04-28 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +6 min

The decrease negatively impacts earnings for both trucking and rail where revenue is generated by moving freight. Ocean freight orders are a leading indicator of train and trucking earnings since 90% of the world's trade moves by water. This is one of three key supply chain charts that are signaling more financial potholes for trucking and rail companies. West Coast ports have been losing trade to both the East Coast ports and Gulf ports as a result of prolonged labor negotiations, though union representatives indicated last week a "tentative agreement" had been reached, but no details were provided. Trucking is needed for both container pick up at the ocean terminals and rail ramps.

☆ Manchester City now looks likelier than ever to win elusive Treble
▼ + stars: | 2023-04-25 | by ( Matias Grez | ) edition.cnn.com time to read: +6 min

Manchester City comfortably beat Sheffield United 3-0 in the FA Cup semifinals. “I’ll talk to you about it after we have won the FA Cup and Premier League,” he told reporters after the FA Cup semifinal, per the BBC. “Before the final of the Champions League we will start to talk of the Treble. Can any team stop Manchester City this season? “One year you can do it – I don’t want to win one Champions League and after be in the bottom,” he aded.

☆ Arsenal desperate to hold off City charge in title showdown
▼ + stars: | 2023-04-24 | by ( Martyn Herman | ) www.reuters.com time to read: +3 min

Arsenal still have a five-point lead with six games to play but City have two matches in hand and look irresistible having collected 25 points from the last 27 on offer. According to statistician Simon Gleave of data company Gracenote, Arsenal's draw with Southampton left them with a 21% chance of dethroning City, while Pep Guardiola's side now have a 79% probability of finishing top. "I cannot wait, these are the games you want to play," Arteta said in the wake of Friday's draw. Arsenal have lost their last seven meetings with City in all competitions and have not won at City in the league since 2015. City have chipped away at Arsenal's lead while also progressing to the semi-finals of the Champions League and on Saturday reached the FA Cup final after easing past Sheffield United in third gear.

☆ Data company Palantir to help Ukraine prosecute alleged Russian war crimes
▼ + stars: | 2023-04-22 | by ( Jeffrey Dastin | Thomson Reuters | Jeffrey Dastin Is A Technology Correspondent For Reuters Based In San Francisco | ) www.reuters.com time to read: +2 min

April 22 (Reuters) - Ukraine plans to deploy software from U.S. data analytics provider Palantir Technologies Inc (PLTR.N) to help it prosecute alleged war crimes committed by Russia, the company told Reuters. Palantir, which has supplied Ukraine with systems to help it target Russian tanks and support refugees, is now working with the prosecutor general's office to help investigators across Europe pool and process data, the company said. Moscow has denied attacking civilians or perpetrating war crimes. Any successful war crimes prosecution will require Ukraine to navigate overlapping court jurisdictions and furnish evidence despite often restricted access to suspects or crime scenes. A U.N.-mandated investigative body last month accused Russia of war crimes, though its chair said it had not found evidence of genocide, which is being investigated by Ukraine.

☆ Real-Estate Agents Face a Reckoning As Housing Market, Home Sales Slow
▼ + stars: | 2023-04-19 | by ( James Rodriguez | ) www.businessinsider.com time to read: +14 min

Just as the housing market goes through booms and busts, so do the ranks of real-estate agents. This has left real-estate agents fighting over a dwindling pool of listings. That makes the job of a local real-estate agent trickier and more nuanced than it was a year ago. "What makes a good real-estate agent and what makes a successful real-estate agent have almost no crossover." She joined a women's support group for real-estate agents on Facebook, where she found many others were experiencing similar challenges.

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