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☆ My baby boomer parents gave great financial advice. They helped me open a checking account at 13 and taught me the value of saving.
▼ + stars: | 2024-05-19 | by ( Sandrine Jacquot | ) www.businessinsider.com time to read: +4 min

There's so much personal finance advice out there, but as I settle into adult life, I rely more and more on the fundamentals my parents taught me. They taught me to save what I earnedIt's undisputed that saving money is smart, and it's true that you can find this particular financial advice anywhere. But this is another one of the key money lessons my baby boomer parents taught me. Being economical often gets a bad rap, but I think it's one of the most valuable money habits my baby boomer parents instilled in me, especially given the cost of living today. Now that I'm older and have more expenses, my experience and relationship with money influenced by my baby boomer parents have hopefully set me up for success.

Persons: I've, — Organizations: Service

☆ Analysis: Why Republicans are likely to win the Senate this year
▼ + stars: | 2024-05-18 | by ( Harry Enten | ) edition.cnn.com time to read: +6 min

Senate Democrats (including independents who caucus with them) hold 23 seats up for election this year; Republicans hold 11. Positive signs for DemocratsBut is the race for the Senate really over if Republicans just win West Virginia? Democratic Senate candidates seem to be at least tied or ahead in Arizona, Michigan, Montana, Nevada, Ohio, Pennsylvania and Wisconsin. Of course, Democratic Senate candidates outrunning the top of the ticket is nothing new. For Democrats to have any chance of holding the Senate, Republicans would have to lose all these Senate races.

Persons: we’ve, Donald Trump, Trump, Democratic Sen, Joe Manchin, Simone Pathe, it’s, we’re, Joe Biden, Biden, Sens, Bob Casey of Pennsylvania, Tammy Baldwin, Kari Lake, Lake, Nevada’s, Missouri’s Todd Akin, Mehmet Oz, Mark Kelly, Larry Hogan, I’m, ” Organizations: CNN, White, Senate, Republicans, Democratic, Republican, Republican Senate, Democrats, Florida, GOP, West Virginia, New York Times, Siena College, Biden Locations: nonjudicial, West Virginia, Texas, West, Arizona , Michigan, Montana , Nevada , Ohio, Pennsylvania, Wisconsin, Arizona, Nevada , Pennsylvania, Senate, Maine, Arizona , Nevada , Montana and Ohio, Montana, Ohio, Michigan , Pennsylvania, Maryland –

☆ The meme-stock rally is dead as reality sets in amid GameStop's warning on revenue and plan to sell 45 million shares
▼ + stars: | 2024-05-17 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

GameStop's meme-stock rally officially ended on Friday after the company announced plans to sell 45 million shares. GameStop said the extreme rally in its stock does "not appear to be based on the underlying fundamentals of our business." This week's meme-stock rally that sent shares of GameStop surging as much 271% is done. The rally in GameStop shares came to its sputtering conclusion on Friday when the struggling video game retailer announced plans to sell 45 million shares in an at-the-market offering, which could result in massive dilution for existing shareholders. AdvertisementThis type of share sale allows GameStop to, at its discretion, sell shares directly in the open market to willing buyers to raise capital, with an upside limit of 45 million shares.

Persons: — Organizations: GameStop, Service, AMC Entertainment, SEC

☆ Meme stocks and more: Analyst names 'danger zone' companies to avoid
▼ + stars: | 2024-05-17 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

Meme stocks are in the spotlight this week. These so-called meme stocks, which gained popularity through social media platforms like Reddit and X (formerly known as Twitter), have attracted retail investors looking to make a quick profit. Future of meme stocks One analyst, who has previously been bearish on GameStop and tech stocks, said that while fundamentals for the stock have improved, GameStop is still in the "danger zone." 'Danger zone' stocks Here are some other stocks Trainer says is in his "danger zone" list, which also includes his "zombie stocks." He cited its "continuing deterioration" of its fundamentals, including its "unsustainable" expenses and steady cash burn.

Persons: David, Trainer, DoorDash's, Yun Li Organizations: GameStop, AMC, CNBC Pro, AMC Entertainment Holdings, Tilray

☆ Here are Friday's biggest analyst calls: Nvidia, Tesla, Robinhood, Salesforce, Netflix, Roblox, Chevron, Walmart & more
▼ + stars: | 2024-05-17 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Here are Friday's biggest calls on Wall Street: Bank of America reiterates Nvidia as buy Bank of America said top pick Nvidia remains "compelling" heading into earnings next week. Bank of America reiterates Marvell as buy Bank of America said it's sticking with its buy rating heading into earnings later this month. " Citi reiterates Walmart as a top pick Citi said the stock remains a top pick following earnings. Chevron Corp. (CVX): Reiterate Constructive View on Inﬂecting FCF Generation and Relative Valuation; Buy with 13% Total Return." "Near-term caution is offset by our increasingly bullish medium-term outlook, where CRM is well positioned for GenAI & valuation remains undemanding."

Persons: Marvell, Roth, Ree, Roth MKM, it's, REE, Wells, Oppenheimer, Reddit, Goldman Sachs, Tesla, Goldman, BTIG, Baird, Jefferies, Morgan Stanley, Baidu, Wolfe, UAL, Cantor Fitzgerald, Cantor, Price, Stifel, Salesforce Organizations: Bank of America, Nvidia, Ree Automotive, EV, Netflix, Citi, OpenAI, Google, Walmart, Darden, Jefferies, DuPont, Macquarie, Stock, underperform Bank of America, Chevron, Chevron Corp, JPMorgan, Body, United Airlines, Price Target, Health, Base Locations: Thu, Olive, China, United, Underperform

☆ Biden’s tariffs on Chinese imports are boosting these beaten-down stocks
▼ + stars: | 2024-05-17 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

Beaten-down clean energy stocks have rallied this week. The iShares Global Clean Energy exchange-traded fund, which tracks sectors from renewable electricity to semiconductors to solar energy, has gained roughly 3%. Plug Power shares have climbed 33%, Enphase Energy shares have gained 8% and NextEra Energy shares have added 4%. Some investors warn that though the tariffs could continue boosting clean energy stocks, the recent rally isn’t driven by just improving fundamentals. Damaging hacks expose the weak underbelly of America’s health care systemA pair of recent ransomware attacks crippled computer systems at two major American health care firms, disrupting patient care and exposing fundamental weaknesses in the US health care system’s defenses against hackers, reports my colleague Sean Lyngaas.

Persons: New York CNN — It’s, Joe Biden, CNN’s Kayla Tausche, ”, Steve Sosnick, Roaring Kitty, Keith Gill, Dow, Nicole Goodkind, stoking, Gary Pzegeo, ” Read, Sean Lyngaas, cybersecurity, ” Joshua Corman, Sen, Ron Wyden Organizations: CNN Business, Bell, New York CNN, Clean Energy, Enphase Energy, NextEra Energy, Biden, Federal Reserve, Interactive Brokers, CNN, GameStop, AMC Entertainment, Roaring, Dow Jones Industrial, Nasdaq, Markets, Bureau of Labor Statistics, CIBC Private Wealth, “ Industry, Oregon Democrat Locations: New York, China

☆ More and more stocks are joining the market's rally to new highs. Here's why and when to buy
▼ + stars: | 2024-05-17 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

The S & P 500 on Wednesday closed above 5,300 for the first time ever. The last time the S & P 500 Short Range Oscillator was this overbought was back in December. The upswing picked up after the S & P 500's most recent bottom on April 19 and pushed to this week's records. .SPX 1Y mountain S & P 500 - 1 year There is no telling whether the current overbought market will follow a similar pattern. Perhaps more telling, four of the bottom six sectors saw earnings estimates revised higher since the end of the first quarter.

Persons: Dow, Morgan Stanley, Stocks, it's, Rather, Jim Cramer's, Jim Cramer, Jim, Victor J Organizations: Federal Reserve, Palo Alto Networks, CNBC, Visitors, New York Stock Exchange, Blue, Bloomberg, Getty

☆ Wayfair to open its first large store, as physical locations make a comeback
▼ + stars: | 2024-05-16 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +10 min

Wayfair follows other direct-to-consumer brands that have opened stores, including Warby Parker , Figs , Casper, Glossier and Everlane. In the early 2010s, new store openings largely outpaced closures, until the tide turned in 2017. Jeenah Moon | Bloomberg | Getty ImagesOther privately held direct-to-consumer brands have also expanded into retail stores, including bedding company Brooklinen, furniture store Burrow and apparel brands Everlane and Untuckit. High cost of entryIf direct-to-consumer brands could all open stores and suddenly boost sales and profitability, they'd all be doing it. Courtesy: WayfairSome direct-to-consumer brands have already been burned after they expanded too quickly and demand fell.

Persons: Niraj Shah, Wayfair, Warby Parker, Glossier, They're, Larry Cheng, It's, you'll, Liza Lefkowski, Shah, Coresight, John Mercer, Coresight's, Trina Spear, Spears, King, King of Prussia, Rebecca Fitts, Alvarez, Tolia, Allbirds, Al Drago Organizations: CNBC, Apple iOS, Companies, Walmart, Target, Joss, Discount, TJX, Bloomberg, Getty, Marsal, Washington , D.C Locations: Wilmette , Illinois, Chicago, Casper, Amazon, U.S, Coresight Research's, Burlington, Los Angeles, Philadelphia, King, King of Prussia , Pennsylvania, Georgetown, Washington ,

☆ Under Armour is laying off workers as retailer says North America sales will plunge this year
▼ + stars: | 2024-05-16 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +4 min

Under Armour announced a broad restructuring plan on Thursday as it said sales in its largest market, North America, plunged 10% and predicted the trend will get worse throughout its current fiscal year. The athletic apparel retailer also saw profits plunge by more than 96% during its fourth fiscal quarter, compared with the year ago period. During the quarter, sales in North America dropped 10% to $772 million, worse than the $780 million that analysts had expected, according to StreetAccount. The company said it expects sales to continue to worsen in North America. Analysts had expected earnings per share of 52 cents, according to LSEG.

Persons: Armour, Kevin Plank, Stephanie Linnartz, Plank, Linnartz Organizations: CNBC, LSEG, Analysts, Marriott, Armour Locations: Manhattan , New York City, North America

☆ Longtime tech investor Dan Niles is fundraising. He explains why he believes now is the time for his Satori Fund.
▼ + stars: | 2024-05-16 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +4 min

Read previewTwenty years after Dan Niles started running his tech-focused portfolio at Lehman Brothers, he's looking to grow. Niles, a longtime money manager running the Satori Fund and a frequent market commentator, has only recently taken over the fund entirely. After the collapse of Lehman Brothers, which the fund was a part of, Niles spun the fund out. Now, under a new brand — Niles Investment Management — and with the current market environment, Niles is eyeing hundreds of millions in new capital for the fund. "Since 2007, it's been the right product at the wrong time," Niles said about his strategy in an interview with Business Insider.

Persons: —, Dan Niles, Lehman, Niles, it's, he's, Stanley Druckenmiller, George Soros, I've Organizations: Service, Lehman Brothers, Business, Niles Investment Management, Google, Microsoft, Amazon Locations: Niles, West Coast, South Florida, Seattle

☆ Costco shares may be getting ahead of themselves into earnings. A bearish trade using options
▼ + stars: | 2024-05-15 | by ( Tony Zhang | ) www.cnbc.com time to read: +3 min

We'll review a "broken wing put butterfly" options trade to position bearishly on Costco. With a business model focused on memberships and rock-bottom prices, Costco (COST) has grown much faster than its peers and commands a significantly higher valuation. Over the past year, COST stock has rallied over 55%, nearly double what the S & P 500 returned over the same period. Additionally, with such a high-priced stock and options premiums elevated with earnings on deck in two weeks, we have to get creative to structure a trade to seek bearish exposure heading into earnings. I'm looking out to the June 7 th weekly expiration and buying a $700/730/775 broken wing put butterfly for $9.72 debit.

Organizations: Costco

☆ How bad bets on meme stocks led to a $1 billion wipeout
▼ + stars: | 2024-05-15 | by ( Allison Morrow | ) edition.cnn.com time to read: +3 min

New York CNN —The only bet riskier than buying meme stocks like GameStop may be cheering for their decline. That’s the lesson Wall Street’s short-sellers are learning the hard way this week. See here: For the first four months of the year, GameStop short-sellers — investors who bet on a stock’s decline — were sitting on $392 million in gains, up nearly 50%. To understand the meme stock phenomenon, it helps to understand a bit of the tribalism underpinning it. Today’s GameStop shorts aren’t likely to hang on and repeat the mistakes of their Melvin Capital brethren.

Persons: CNN Business ’, Capital, RoaringKitty —, GameStop’s, Ihor Dusaniwsky, ” Organizations: CNN Business, New York CNN, GameStop, S3 Partners, Elon, Citron Research, Wall, Partners Locations: New York

☆ Hon Hai's fundamentals aren't 'very strong,' says financial services firm
▼ + stars: | 2024-05-15 | 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 EmailHon Hai's fundamentals aren't 'very strong,' says financial services firmKirk Yang of Kirkland Capital discusses Hon Hai's results and says its fundamentals are "not very strong. There's no growth from [the] sales and profit perspective."

Persons: Kirk Yang, Hai's Organizations: Kirkland Capital

☆ Roaring Kitty's tweet sent GameStop spiking. The company's cofounder shares his outlook on where the stock is headed and advises hedge funds on how to navigate it.
▼ + stars: | 2024-05-15 | by ( Laila Maidan | ) www.businessinsider.com time to read: +5 min

There's no sense in this, said Gary Kusin, the cofounder of Babbage, the company to which GameStop traces its roots. Imagine if Taylor Swift's brand or company went public, and all the Swifties bought stock, the shares would be overvalued. What Wall Street doesn't understand is that there are Swifties in the video game industry. "If I worked on Wall Street, I would find some other stocks and some other places to go; I wouldn't touch GameStop." And I believe that's exactly what's ailing Wall Street right now," Kusin said.

Persons: Michael Burry, Keith Gill, Gary Kusin, Babbage, Kusin, It's, Taylor, Swifties, Shorting, doesn't, Citron, Brooks, Macy's Organizations: GameStop, Melvin Capital Management, Technology, S3 Partners

☆ 'This is what you live for': How to handle GameStop's jaw-dropping swings as meme stocks make a comeback, according to a momentum-obsessed technical strategist
▼ + stars: | 2024-05-15 | by ( James Faris | ) www.businessinsider.com time to read: +6 min

He believes the stock market is rational — even when it doesn't appear to be. Related stories"The market is ruthlessly efficient, both long term and short term," Lundgren said. The strategist added: "The market doesn't care one iota about fundamentals in the short term. Like any market, stock exchanges determine prices based on what buyers and sellers will pay and sell for. Just because it's taking place in a mall doesn't make that mall an insane asylum."

Persons: —, Tuesday's, Redditors, David Lundgren, Lundgren, who's, that's, It's, Benjamin Graham, Mark Minervini Organizations: Service, GameStop, Business, Street, MOTR Capital Management & Research, Little Harbor Advisors, AMC

☆ Investor on Alibaba's growth in its cloud and core business
▼ + stars: | 2024-05-15 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFree cash flow matters the most, market will be surprised about Alibaba's growth the next 18 monthsAlibaba investor Sid Choraria discusses why he thinks the stock price is disconnected with the business fundamentals.

Persons: Sid Choraria

☆ A bank ETF could bounce if inflation data is cooler than expected, Bank of America says
▼ + stars: | 2024-05-14 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +3 min

The rapid shift in expectations away from multiple rate cuts this year may have created a trading opportunity around Wednesday's inflation data, according to Bank of America. We believe squeeze risks for rate-sensitive laggards on a CPI miss outweigh downside risks on a CPI beat," Kwon wrote. Specifically, there could be an opportunity to bet on the squeeze risk through the SPDR S & P Regional Banking ETF (KRE) , Kwon said. KRE YTD mountain This regional bank ETF is underperforming the broader market year to date. Investors could position for this potential squeeze by just buying the ETF outright, though that does carry the risk of a hot inflation reading pushing regional bank stocks down.

Persons: Ohsung Kwon, Kwon, Russell, CNBC's Michael Bloom Organizations: Bank of America . Equity, Regional Banking, Federal Reserve, Silicon Valley Bank, First Republic, Bank of America Locations: IWM, Silicon

☆ Meme stocks extend short-squeeze rally to massive 100%+ gains with GameStop and AMC leading the way
▼ + stars: | 2024-05-14 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

GameStop and AMC Entertainment extended their gains on Tuesday to more than 100%. AMC Entertainment took advantage of the massive rally by selling shares to raise capital. AdvertisementWhat began with a Sunday evening tweet from Keith Gill, AKA Roaring Kitty, has materialized into a massive short-squeeze rally that has taken shares of GameStop and AMC Entertainment up 74% and 78% on Monday alone. Before the opening bell, shares of GameStop and AMC soared as much as 158% and 132%, respectively. The rallies have pushed a massive short-squeeze in the stocks, not unlike the 2021 rally that caught Wall Street short sellers off guard and sank a prominent hedge fund.

Persons: Keith Gill, —, Wall, DataTrek, Nicholas Colas, Colas Organizations: GameStop, AMC Entertainment, Service, AMC

☆ Recent college grads are doing shockingly well. Can it last?
▼ + stars: | 2024-05-14 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

And recent grads aren’t just finding any job, they’re finding good jobs. Not all is well: The EPI study found that racial and gender wage gaps still remain large among recent grads. GameStop shares tripped multiple circuit breakers — a temporary and mandated halt in trading to let investors cool off for a bit. Robinhood denied claims on social media on Monday that it had once again halted GameStop stock purchases on its platform. Robinhood has not shut down the purchase of Gamestop shares,” Robinhood spokesperson Anupriya Ghate said in a statement to CNN.

Persons: it’s, —, Katherine deCourcy, Elise Gould, “, Z, Z’ers, Krystal Hur, Keith Gill, Roaring Kitty, Gill, Robinhood, ”, Anupriya Ghate, ” Shein, Shein, CNN Shein Organizations: CNN Business, Bell, New York CNN, Economic Policy Institute, Stanford Institute for Economic Policy Research, Employers, GameStop, AMC, Partners, AMC Entertainment, Gamestop, CNN, Workers, Public, Public Eye Locations: New York, Black, Swiss, Guangzhou, China

☆ Trump Media has reawakened the meme stock monster as GameStop surges
▼ + stars: | 2024-05-14 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

New York CNN —We in the financial press tend to talk about the meme stock revolution (or craze, or frenzy, or mass delusion) in the past tense. Another meme stock, Trump Media and Technology Group, the Donald Trump-owned media company that controls Truth Social, brought back memories of the 2021 GameStop bonanza. With Trump Media, Trump supporters and other speculative traders pumped up the stock not for its (extraordinarily lousy) fundamentals, but more as a vote of support for the former president’s campaign and even a barometer of his winning chances. We’re not quite as exuberant today as we were then, but we’re still within spitting distance of all-time highs on major stock indices, Sosnick notes. In some ways, the arrival in the spring of Donald Trump’s media company reawakened the meme stock monster.

Persons: CNN Business ’, Wall, Keith Gill, Kitty, DeepF, Steve Sosnick, who’ve, Gill, Donald Trump, Donald Trump’s, DJT, ” Sosnick, Michael Pachter, David, Melvin Capital, Gabe Plotkin’s, ”, Plotkin, “ Organizations: CNN Business, New York CNN, GameStop, Interactive Brokers, Trump Media, Technology Group, AMC, Trump, Wedbush Securities Locations: New York

Deutsche Bank maintained a hold rating on Nvidia ahead of earnings next week, while Wells Fargo raised its price target. The firm downgraded shares to neutral from buy while lowering its price target to $35 from $55. He has a $850 price target on shares, indicating shares pulling back nearly 6% from Monday's close. The analyst raised his price target on the stock to $1,150 from $974, implying upside of more than 27%. He also raised his price target to $78 from $68, implying upside of 19% from Monday's close.

Persons: Wells Fargo, Roth, Roblox, Eric Handler, Handler, — Hakyung Kim, Tesla's, Elon Musk's, Tesla, Dan Levy, Levy, Hakyung Kim, Jefferies, Boston Beer, Samuel Adams, seltzer, Kaumil, Boston Beers, Seltzer, Gajrawala, Ross Seymore, NVDAs, Seymour, Wells Fargo's Aaron Rakers, Rahul Krotthapalli, Krotthapalli, Fred Imbert Organizations: CNBC, Nvidia, Deutsche Bank, JPMorgan, Roth Capital Partners, Barclays, Jefferies, Boston Beer, Boston, Deutsche, Fitness Locations: Monday's, Boston

☆ Malaysia won't use interest rates to prop up the ringgit, says central bank deputy chief
▼ + stars: | 2024-05-14 | by ( Sumathi Bala | ) www.cnbc.com time to read: +1 min

Malaysia will not use monetary policy as a tool to shore up its currency, according to the central bank's deputy governor. Bank Negara's Adnan Zaylani Mohamad Zahid said the country's monetary policy decisions will be determined by economic growth and the inflation outlook. The ringgit currently does not reflect Malaysia's economic fundamentals and growth prospects, Bank Negara said in a statement last week. This has been fueled by expectations that the U.S. Federal Reserve could hold interest rates higher-for-longer as inflation remains sticky. Adnan Zaylani said the central bank expects the U.S. interest rate cycle to turn at "some point in time," which will then reflect on the "ringgit performance."

Persons: Bank Negara's Adnan Zaylani Mohamad Zahid, CNBC's, Adnan Zaylani Organizations: Bank, Bank Negara, Korean, U.S ., U.S . Federal Locations: Malaysia

☆ This rallying energy drink stock is set to break out above $100, according to the charts
▼ + stars: | 2024-05-14 | by ( Todd Gordon | ) www.cnbc.com time to read: +3 min

Celsius (CELH) is an energy drink company that emerged from small cap status in 2020 to a $21 billion market cap company today. The stock carries a hefty valuation, but with the recent breakout following earnings last week I think it can rally even higher. I first wrote about Celsius here on Jan 17 as the stock was gearing up to break through the $63 and $69 resistance levels. The fundamental case Even so, last week's Q1 earnings report was met with some confusion. The chart below shows CELH quarterly revenue growth with the most recent quarter showing a slight lower-high based on that $355 million top line figure.

Persons: Red Bull, we'll, Todd Gordon, Gordon, CELH Organizations: Red, Monster Beverage, Elliott, Pepsi, Tactical Alpha, Inside Edge, Inside Edge Capital Management

Jefferies raised its price target on the artificial intelligence chipmaker, calling for more than 30% upside. Analyst Biju Perincheril downgraded shares to neutral from positive and slashed his price target by $36 to $56. Ramnani's $531 price target implies upside of 16.2% for Mastercard, while he sees Visa shares advancing 14.7% to $322. — Alex Harring 5:39 a.m.: Jefferies raises Nvidia price target Nvidia's gains won't stop anytime soon, according to Jefferies. After an analyst change, the firm kept its buy rating and raised its price target to $1,200 from $780.

Persons: Jefferies, Biju Perincheril, SolarEdge, Perincheril, — Alex Harring, Tom O'Malley, O'Malley, Seth Seifman, We've, Seifman, Morgan Stanley, Dara Mohsenian, Mohsenian, Alex Harring, Piper Sandler, Arvind Ramnani, Ramnani, Achal Kumar, Kumar, Delta, Blayne Curtis, NVDA, Curtis, Fred Imbert Organizations: CNBC, Nvidia, HSBC, American Airlines, Susquehanna, FactSet, Wall, Micron, Barclays, JPMorgan, GE Aerospace, GE, PepsiCo, Pepsi, PEP, Mastercard, Visa, Technology, Delta Locations: Delta, United, Europe, Monday's premarket

☆ Why America Still Can't Get Rid of High Prices, Inflation
▼ + stars: | 2024-05-13 | by ( Neil Dutta | ) www.businessinsider.com time to read: +9 min

Typically, price increases are a slow-moving process, so it is rare to see core inflation accelerate this much this quickly. The Survey of Professional Forecasters has found longer-run expectations for inflation have leveled out at 2% — the Fed's target. These one-offs have had an outsize impact on the overall inflation picture. Ahead of 2024, the contribution from acyclical components to core inflation was essentially zero. The strong growth in private demand suggests that second-quarter GDP could be even more robust.

Persons: I've Organizations: America, Federal Reserve, PCE, Atlanta Fed Locations: Real

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