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S&P 500's busiest tradesThe S&P 500 declined 0.25% to end the session at 4,090.38 points. Reuters Graphics Reuters GraphicsOf the 11 S&P 500 sector indexes, seven declined, led lower by consumer discretionary (.SPLRCD), down 2.04%, followed by a 1.3% loss in industrials (.SPLRCI). Analysts on average expect aggregate S&P 500 company earnings for the first quarter to have fallen 5% year-over-year, according to Refinitiv I/B/E/S. Declining stocks outnumbered rising ones within the S&P 500 (.AD.SPX) by a 1.2-to-one ratio. The S&P 500 posted 11 new highs and two new lows; the Nasdaq recorded 39 new highs and 269 new lows.

Driving the recession fears, the ADP National Employment report showed U.S. private employers hired far fewer workers than expected in March. S&P 500's busiest tradesThe S&P 500 was down 0.52% at 4,079.37 points. Of the 11 S&P 500 sector indexes, six declined, led lower by consumer discretionary (.SPLRCD), down 1.93%, followed by a 1.65% loss in information technology (.SPLRCT). Declining stocks outnumbered rising ones within the S&P 500 (.AD.SPX) by a 1.5-to-one ratio. The S&P 500 posted eight new highs and two new lows; the Nasdaq recorded 25 new highs and 218 new lows.

Earlier this week data showed falling factory orders and soft manufacturing activity. Traders' bets of a pause by the Fed in May stood at 60.5%, while odds of a 25-basis point interest rate hike was at 39.5%, according to CME Group's Fedwatch tool. Defensive stocks such as consumer staples (.SPLRCS) were in the green among major S&P 500 sectors, with healthcare (.SPXHC) and utilities (.SPLRCU) hitting their highest in close to two months. The benchmark S&P 500 and the tech-heavy Nasdaq are now on track for their first weekly declines in four in the holiday-shortened week. The S&P index recorded eight new 52-week highs and two new lows, while the Nasdaq recorded 23 new highs and 185 new lows.

☆ U.S. service sector slows in March; inflation cooling - ISM survey
▼ + stars: | 2023-04-05 | by ( ) www.reuters.com time to read: +3 min

It was the first time since 2009 that all subcomponents of the manufacturing PMI fell below the 50 threshold. The services sector is being supported by consumers switching spending from goods, which are typically bought on credit. With demand cooling, services sector inflation continued to subside, though it remains elevated. The services sector is now at the heart of the fight against inflation as services prices tend to be stickier and less responsive to interest rate increases. Some economists view the ISM services prices paid gauge as a good predictor of personal consumption expenditures (PCE) inflation.

But manufacturers across the eurozone have reported business activity has been falling for nine months since June 2022 according to purchasing managers’ surveys. U.S. manufacturers have reported business activity has been falling for five months since November 2022 according to the Institute for Supply Management (ISM)’s purchasing survey. But the deficit had narrowed from 63 million barrels (-15% or -2.05 standard deviations) at the end of June 2022, according to data from Euroilstock. U.S. distillate fuel oil inventories were 18 million barrels (-14% or -1.08 standard deviations) below the prior 10-year seasonal average on March 31. In Singapore, distillate inventories have risen in 12 of the 15 most recent weeks by a total of 3 million barrels, according to data from Enterprise Singapore.

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☆ US House committee chair signs subpoena for State Dept Afghanistan documents
▼ + stars: | 2023-03-28 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Anna VoitenkoMarch 27 (Reuters) - The Republican chairman of the U.S. House of Representatives Foreign Affairs Committee on Monday said he signed a subpoena to be delivered to Secretary of State Antony Blinken for documents related to the August 2021 U.S. withdrawal from Afghanistan. Michael McCaul has launched an investigation into the messy withdrawal from Afghanistan under Democratic President Joe Biden and events in the country since. McCaul has given the State Department until Monday to produce the documents. "Unfortunately, Secretary Blinken has refused to provide the Dissent Cable and his response to the cable, forcing me to issue my first subpoena as chairman of this committee," McCaul said in a statement. The State Department did not immediately respond to a request for comment from Reuters on Monday evening.

☆ U.S. House committee chair signs subpoena for State Department Afghanistan documents
▼ + stars: | 2023-03-28 | by ( ) www.cnbc.com time to read: 1 min

People queue up to board a military aircraft of the United States and leave Kabul at Kabul airport, Afghanistan, Aug. 22, 2021. The Republican chairman of the U.S. House of Representatives Foreign Affairs Committee said on Monday he signed a subpoena to be delivered to Secretary of State Antony Blinken for documents related to the August 2021 U.S. withdrawal from Afghanistan. Michael McCaul has launched an investigation into the messy withdrawal from Afghanistan under Democratic President Joe Biden and events in the country since. Republicans — and some Democrats — say there has never been a full accounting of the chaotic operation, in which 13 U.S. service members were killed at Kabul's airport. McCaul had given the State Department until Monday to produce the documents.

☆ Death toll in US strikes on pro-Iran targets in Syria rises to 19 -war monitor
▼ + stars: | 2023-03-25 | by ( ) www.reuters.com time to read: +2 min

BEIRUT, March 25 (Reuters) - The death toll in U.S. air strikes on pro-Iran installations in eastern Syria has risen to 19 fighters, a Syrian war monitor said on Saturday, in one of the deadliest exchanges between the U.S. and Iran-aligned forces in years. The U.S. carried out strikes in eastern Syria in response to a drone attack on Thursday that left one American contractor dead, and another one wounded along with five U.S. troops. The war monitor said air raids killed three Syrian troops, 11 Syrian fighters in pro-government militias and five non-Syrian fighters who were aligned with the government. Another U.S. service member was wounded, according to officials, and local sources said suspected U.S. rocket fire hit more locations in eastern Syria. Tehran's growing entrenchment in Syria has drawn regular Israeli air strikes but American aerial raids are more rare.

☆ U.S. contractor killed, five service members and contractor wounded in suicide drone strike in Syria
▼ + stars: | 2023-03-24 | by ( Courtney Kube | ) www.cnbc.com time to read: +1 min

US forces patrol near the countryside of Rumaylan (Rmeilan) in Syria's northeastern Hasakeh province near the Turkish border, on December 2, 2022. A U.S. contractor was killed and five U.S. service members and one U.S. contractor were wounded Thursday when a suicide drone hit a coalition base near Hasakah in northeast Syria just before 2 p.m. local time, the Defense Department said in a statement. "Our thoughts are with the family and colleagues of the contractor who was killed and with those who were wounded in the attack earlier today," he said. Two wounded service members were treated on-site, while three others and the wounded U.S. contractor were evacuated to medical facilities in Iraq. The attacks, mainly by drones and rockets, are believed to have carried out by Iran or Iranian-backed proxies.

☆ Want to start a side hustle and earn extra money? Here's how to launch a lucrative business and bring in six figures.
▼ + stars: | 2023-03-23 | by ( Alexandra York | ) www.businessinsider.com time to read: +9 min

Like many people during the pandemic, Davis reallocated the time she'd typically spent commuting home to building her side hustle. Davis' handbag company netted $14,000 in sales in its first four months in business, which Insider verified with documentation. Another entrepreneur, Lisa Andrea, regularly books $8,000 in revenue a month from her side hustle, The Financial Cookbook, which Insider also verified with documentation. Andrea started The Financial Cookbook, an online financial-coaching company, to earn extra income and try entrepreneurship part time before taking the plunge. Leveraging expertise, as Andrea did with financial coaching, is one way entrepreneurs can start a side hustle and balance risk versus reward.

And I'm prepared to serve this," Representative Michael McCaul told Secretary of State Antony Blinken as he testified to the committee about the department's budget request. McCaul has launched an investigation into the messy withdrawal from Afghanistan and events in the country since. McCaul sent a letter to Blinken this week requesting the information before Thursday. Blinken responded at Thursday's hearing that the department is working to provide as much information as possible. Blinken told the committee that several Americans were being held in Afghanistan, but they were not being identified at their families' request.

March 22 (Reuters) - A federal judge in New York ordered Iran's central bank and a European intermediary on Wednesday to pay out $1.68 billion to family members of troops killed in the 1983 car bombing of the U.S. Marine Corps barracks in Lebanon. Victims and their families won a $2.65 billion judgment against Iran in federal court in 2007 over the attack. Six years later, they sought to seize bond proceeds allegedly owned by Bank Markazi and processed by Clearstream to partially satisfy the court judgment. Bank Markazi has argued that the lawsuit was not allowed under the Foreign Sovereign Immunities Act (FSIA), which generally shields foreign governments from liability in U.S. courts. A Luxembourg court in 2021 ordered Clearstream not to move the funds until a court in that country recognizes the U.S. ruling.

WASHINGTON, March 21 (Reuters) - The Republican chairman of the U.S. House of Representatives Foreign Affairs Committee threatened to issue a subpoena if the State Department does not produce documents it has requested related to the August 2021 U.S. withdrawal from Afghanistan, the committee said on Tuesday. Representative Michael McCaul sent a letter to Secretary of State Antony Blinken requesting the information before Blinken's testimony to the committee on Thursday. Blinken is due to testify to congressional committees in both the Senate and House this week. Republicans have launched a series of investigations of Democratic President Joe Biden's administration since they took control of the House in January. Reporting by Patricia Zengerle, additional reporting by Simon Lewis; editing by Jonathan Oatis and Sandra MalerOur Standards: The Thomson Reuters Trust Principles.

I had very limited access to financial support for college, so I dropped out after a semester. I dropped out of college after a semester, and it has worked out great for me. And that's when I realized that college wasn't a necessity. College is worth it for many, but it wasn't for meSo, is college worth it? Based on my experience, I don't want my son to think he doesn't need to go to college.

☆ The 5 best business credit cards for Amazon: Earn bonus rewards on Amazon purchases and services
▼ + stars: | 2023-03-13 | by ( Jason Stauffer | Elizabeth Gravier | ) www.cnbc.com time to read: +13 min

Regardless of what business expenses you have and the type of credit card rewards you prefer, there's a business card for you. Below, CNBC Select details the best credit cards for your Amazon business purchases, so you can make the best decision for your business or side hustle. The Amazon Business Prime American Express Card is the most rewarding credit card for Amazon business purchases. FAQsIf I have a personal Amazon credit card, can I still apply for a business Amazon credit card? Here's our analysisBottom lineThe right business credit card for your Amazon business purchases should be the most rewarding and offer benefits that align with your business' needs.

The agreement will also see U.S. and British submarines deployed in Western Australia to help train Australian crews and bolster deterrence. This first phase of the plan is already underway with the U.S. Virginia-class nuclear-powered attack submarine Asheville visiting Perth in Western Australia, officials said. Briefing a small group of reporters on Friday, Sullivan dismissed China's concerns and pointed to Beijing's own military buildup, including nuclear-powered submarines. 'DOUBLE DIGIT BILLION' INVESTMENTAustralia had agreed to contribute funds to boost U.S. and British submarine production and maintenance capacity, the official said. Australia's nuclear-powered submarine program with the United States and Britain will cost Australia up to A$368 billion ($245 billion) by 2055, a defense official said.

☆ Credit Suisse's top picks for March include new addition Microsoft
▼ + stars: | 2023-03-10 | by ( Hakyung Kim | ) www.cnbc.com time to read: +5 min

Credit Suisse refreshed its top stock picks for March, as the market reversed its January rally and began a renewed sell-off. In light of the growing market uncertainty, Credit Suisse highlighted several stocks it thinks can nonetheless outperform in coming months. Credit Suisse also sees strong gains ahead for T-Mobile, with the firm's price target of $175 implying upside of about 24% from Thursday's close. Other stocks on Credit Suisse list include Chipotle Mexican Grill, ServiceNow and Amazon. The company reported stronger-than-expected fourth quarter earnings, and Credit Suisse's 12-month price target on the stock implies upside of 34% from Thursday's close.

☆ US services sector grows steadily; prices stubbornly high
▼ + stars: | 2023-03-03 | by ( Lucia Mutikani | ) www.reuters.com time to read: +6 min

Thirteen services industries, including construction, retail trade, accommodation and food services as well as professional, scientific and technical services, reported growth last month. Overall, the services sector is benefiting from a switch in consumer spending from goods, which are typically bought on credit. ISM services PMISUPPLY SIGNIFICANTLY IMPROVEDThe services sector is now at the center of the fight against inflation as services prices tend to be stickier and less responsive to interest rate increases. A measure of prices paid by services industries for inputs fell to 65.6, the lowest in January 2021, from 67.8 in January. Some economists view the ISM services prices paid gauge as a good predictor of personal consumption expenditures (PCE) inflation.

MarriottThe Marriott Bonvoy Business® American Express® Card has increased its welcome bonus to 125,000 bonus Marriott Bonvoy Points after spending $5,000 in purchases within the first three months of card membership (offer ends 5/3/23). With an annual fee of $125, the Marriott Bonvoy Business® American Express® Card is a little pricier than similar hotel credit cards. 6x Marriott Bonvoy Points on each dollar of eligible purchases at hotels participating in the Marriott Bonvoy® program. Awards can be used for one night (redemption level at or under 35,000 Marriott Bonvoy® points) at hotels participating in Marriott Bonvoy®. But even without the elevated welcome bonus offer, the Marriott Bonvoy Business Amex is well worth the annual fee.

☆ Bitcoin edges higher after dismal February for risk assets as investors assess rate outlook and new China data
▼ + stars: | 2023-03-01 | by ( Carla Mozée | ) www.businessinsider.com time to read: +3 min

Bitcoin and other risk assets rose after strong Chinese manufacturing activity data. The coin on Wednesday was gaining ground on notably strong manufacturing data out of China. China's National Bureau of Statistics said its manufacturing activity index rose to 52.46 in February, the highest reading since April 2012, according to Bloomberg. Chinese stocks bounced higher, with the Hang Seng Index soaring more than 4%. Copper was another risk-on asset gaining ground, up 1.2% at $4.14 per pound on prospects of higher Chinese demand for the metal used for construction projects.

☆ Op-ed: The calm before the storm – These 3 drivers will dictate the landing ahead for the U.S. economy
▼ + stars: | 2023-02-28 | by ( Rebecca Patterson | ) www.cnbc.com time to read: +5 min

The approach of those storms seems an appropriate analogy to the U.S. economic outlook today. Investors today are keenly focused on what kind of economic landing the U.S. will have and how best to position for different outcomes. That's critical for the broader growth outlook, given that consumption represents around two-thirds of the economy. While many U.S. firms are expressing their nervousness about the economic outlook, they are at the same time still seeking to hire. A negative feedback loop would likely ensue, with less income weighing on spending and less spending making companies more cautious.

The economic calendar and market trading grind back into gear on Tuesday, kicking off in Asia with the flash Aussie and Japanese PMIs for February. chartManufacturing activity in Japan has contracted for three months in a row and service-sector activity has expanded for five months, meaning overall economic activity grew in January for the first time in three months. Services and overall business activity as measured by the PMIs have been contracting for four months. This may be a good time to deliver growth-boosting rate cuts or ramp up liquidity injections even more. Here are three key developments that could provide more direction to markets on Tuesday:- Japan flash PMIs (February)- Australia flash PMIs (February)- Reserve Bank of Australia policy meeting minutesBy Jamie McGeever; Editing by Josie KaoOur Standards: The Thomson Reuters Trust Principles.

☆ A year after Russia’s invasion: How Ukraine endured
▼ + stars: | 2023-02-20 | by ( ) www.reuters.com time to read: +21 min

REUTERS/Valentyn OgirenkoIn the early hours of Feb. 24, 2022, tens of thousands of Russian soldiers entered Ukraine. By seizing the city of three million people, and capturing or killing Zelenskiy, Russia’s hope appeared to be that Ukraine would quickly surrender. By March 23, Russia’s advance had captured regions of Ukraine along the Belarus border but Ukraine’s forces had begun reclaiming territory near Kyiv. Satellite imagery of Russia’s military convoy near Invankiv, Ukraine, Feb. 28, 2022. The two sit on a bed, with a radio and teddy bears nearby., image Ukrainian civilians have endured The will of the people of Ukraine continues to be that they remain free.

☆ House Republicans request documents on the U.S. withdrawal from Afghanistan
▼ + stars: | 2023-02-17 | by ( Amanda Macias | ) www.cnbc.com time to read: +2 min

WASHINGTON — House Republicans on Friday called on the Biden administration to release information about the chaotic U.S. departure from Afghanistan. The departure effectively ended a two-decade conflict that began shortly after the terrorist attacks of Sept. 11, 2001. Biden ordered the full withdrawal of approximately 3,000 U.S. troops from Afghanistan in April 2021. At the time, he asked all American servicemembers to leave the war-weary country by Sept. 11 of that year. The U.S. launched its war in Afghanistan in October 2001, weeks after the Sept. 11 attacks.

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