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☆ Morgan Stanley names this health insurance stock a top pick, sees more than 20% upside
▼ + stars: | 2023-07-25 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

Morgan Stanley thinks it's time to buy shares of Elevance Health . The bank listed the stock as a top pick in a Tuesday note and reiterated an overweight rating on it. Morgan Stanley's $585 price target implies roughly 24% upside from Monday's $471.16 close. Morgan Stanley analyst Michael Ha said the health insurance company can shine in the broader field of managed care and forecasted as much as 15% growth in earnings per share next year. ELV YTD mountain Elevance Health stock has slumped more than 8% so far this year.

Persons: Morgan Stanley, Morgan Stanley's, Michael Ha, Ha, — CNBC's Michael Bloom Organizations: Elevance Health

July 25 (Reuters) - The U.S. economy may ultimately skirt a recession, but it's felt like one for months at Jon Ferrando's 103 RV dealerships. "Our industry has always been a little challenged on forecasting around demand," said Jason Lippert, CEO of LCI Industries, a large supplier of parts to the RV industry that is also based in Elkhart. "If I was just looking at RV data, I would be screaming recession," said Michael Hicks, an economics professor at Ball State University in Indiana who tracks the industry, adding that pullbacks in RV shipments have signaled every U.S. recession since 1981. "We expect in the second half of this year shipments (of RVs) will start to increase again," Geraci said. Gregg Fore, an RV industry consultant who previously ran an RV parts supplier, said half the new inventory at some dealers he works with are 2022 models.

Persons: it's, Jon Ferrando's, Ferrando, Michael Happe, Eden, Jason Lippert, Michael Hicks, RVIA, Monika Geraci, Geraci, Gregg Fore, Tyler Hermon, Timothy Aeppel, Dan Burns, Paul Simao Organizations: Winnebago Industries, Federal Reserve, RV Industry Association, Thor Industries, LCI Industries, Ball State University, Dealers, Thomson Locations: U.S, Fort Lauderdale , Florida, RVs, United States, Elkhart , Indiana, Eden Prairie , Minnesota, Elkhart, Indiana, North America, RVing

☆ MLB roundup: Shohei Ohtani hits 36th homer as Angels beat Pirates
▼ + stars: | 2023-07-24 | by ( ) www.reuters.com time to read: +11 min

Devers capped the scoring by hitting a solo home run -- his 24th homer of the season -- in the seventh inning. New York's Carlos Carrasco (3-4) allowed five runs on 10 hits in 2 1/3 innings (58 pitches). Yankees 8, Royals 5Anthony Rizzo hit his first homer in over two months and collected a season-high four hits as host New York beat Kansas City. He yielded those four runs on six hits and struck out six in six innings to pick up the win. Oakland's Luis Medina was pulled after five innings, having given up just one run on two hits.

Persons: Shohei Ohtani, Kiyoshi Mio, Ohtani, Luis Rengifo, Andrew Velazquez, Rengifo, Tyler Anderson, Carlos Estevez, Carlos Santana, Jacob Webb, Bryan Reynolds, Rafael Devers, Adam Duvall, Devers, Connor Wong, Chris Murphy, Carlos Carrasco, Brandon Nimmo, Alex Faedo, Faedo, Alex Lange, Spencer Torkelson, Andy Ibanez, Joe Musgrove, Gary Sanchez, Anthony Rizzo, Gleyber Torres, Jordan Lyles, Torres, Salvador Perez, Michael Massey, Luis Severino, MacKenzie Gore, Riley Adams, Gore, Lane Thomas, Joc Pederson, Scott Alexander, Bryce Harper, Aaron Nola, Gregory Soto, Craig Kimbrel, David Fry, Harper, Johan Rojas, J.T, Realmuto, Trea Turner, Alec Bohm, Bryson Stott, Jake Fraley, Fraley's, Spencer Steer, Steer, Christian Encarnacion, Strand's, Derek Law, Arizona's Tyler Gilbert, Gunnar Henderson, Ryan O'Hearn, Mike Baumann, Yennier Cano, Felix Bautista, Wander Franco, Yandy Diaz, Luis Arraez, Arraez, Pierce Johnson, Jesus Luzardo, Randal Grichuk, Brenton Doyle, Ozzie Albies, Michael Harris II, Ronald Acuna Jr, Albies, Elvis Peguero, Daysbel Hernandez, Ryan Jeffers, Kyle Farmer, Emilio Pagan, Zach Remillard, Eloy Jimenez, Cody Bellinger, Jameson Taillon, Louis, Bellinger, Dylan Carlson's, Louis ' Jordan Montgomery, Nolan Arenado, Jonah Heim, Leody, Brad Miller, Ezequiel Duran, Martin Perez, Emmet Sheehan, Mauricio Dubon, Houston's Hunter Brown, Oakland's Luis Medina, Yainer Diaz, JJ Bleday, Jordan Diaz, Santiago Espinal, Vladimir Guerrero Jr, Mike Ford Organizations: Los Angeles Angels, Pittsburgh Pirates, Angel, Angels, Los Angeles, Pittsburgh, The Pirates, Pirates . Red Sox, Mets, Boston, New, Tigers, Padres, Detroit, San, Yankees, Royals, New York, Kansas City, Nationals, Giants, Washington, Phillies, Philadelphia, Cleveland, Reds, Diamondbacks, Cincinnati, Orioles, Rays, Baltimore, Tampa, American League East, Marlins, Miami, Rockies, Braves, Brewers, Atlanta, White Sox, Minnesota, Twins, Chicago, Cubs, Cardinals, St, Rangers, Dodgers, Texas, Astros, Athletics, Houston, Oakland, Blue Jays, Mariners, Toronto, Seattle, Brandon Belt, Thomson Locations: Anaheim , California, USA, Anaheim , Calif, New York, San Diego, Diego, San Francisco, Cleveland, Philadelphia, Arizona, St . Petersburg, Fla, Colorado, Milwaukee, Chicago, Minneapolis, Minnesota, Atlanta, York, Los, Arlington , Texas, Texas

☆ Wall Street on ice ahead of big tech earnings, UK shines
▼ + stars: | 2023-07-19 | by ( Naomi Rovnick | ) www.reuters.com time to read: +3 min

Tech stocks have been boosted by exuberance about artificial intelligence as well as hopes the Federal Reserve will soon end the aggressive interest rate rises that bludgeoned valuations of more speculative businesses in 2022. Owning big tech is also the "most crowded" trade in global markets, Bank of America strategist Michael Hartnett warned in a note to clients this week. This was just the latest downside surprise on prices for a major economy after more than 18 months of central banks cranking interest rates higher. Sterling lost 0.96% to trade at $1.291 as market bets that the Bank of England would raise interest rates as high as 6%, from the current 5%, faded out. London's blue-chip FTSE 100 (.FTSE) added 1.6% and the domestically focused FTSE 250 (.FTMC) rose 3.2%, on track for its best daily performance since February 2.

Persons: Sterling, Michael Hartnett, Hartnett, BofA, Stuart Kaiser, Eren Osman, Arbuthnot Latham, BoE, Samuel Tombs, Kenneth Broux, Germany's, Tom Westbrook, Bernadette Baum, Kim Coghill, Chizu Organizations: Stock, Wall, Tesla, Netflix, Nasdaq, Tech, Reserve, Bank of America, Citi, Bank of England, Macroeconomics, Sterling, . Federal, Societe Generale, Thomson Locations: London, Sydney

☆ Even the CEO of a top AI startup thinks that AI will 'be the biggest bubble of all time'
▼ + stars: | 2023-07-19 | by ( Gabriel Rivera | ) www.businessinsider.com time to read: +3 min

Stability AI founder Emad Mostaque Courtesy of Stability AIThe CEO of one of the biggest AI startups warned that AI will "be the biggest bubble of all time." Emad Mostaque, the cofounder of Stability AI, compared the hype around the technology to the dot-com bubble, CNBC reported. Stability AI CEO Emad Mostaque told UBS analysts that he thinks AI will "be the biggest bubble of all time," CNBC reported. "I call it the 'dot AI' bubble, and it hasn't even started yet," the cofounder of the generative AI startup said on the call, according to CNBC. And in May, Wharton finance professor Jeremy Siegel was careful not to prognosticate about the future of AI companies.

Persons: Emad Mostaque, hasn't, Mostaque, Sam Altman, James Penny, Michael Hartnett, Dan Ives, Wharton, Jeremy Siegel Organizations: CNBC, Investment, Service, UBS, Investors, Bank of America Global Research, Federal Reserve, Wedbush Securities Locations: Wall, Silicon, Pitchbook, Silicon Valley

☆ Fund managers still cautious despite big stock market rally, BofA survey shows
▼ + stars: | 2023-07-18 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

That fear has led a net 39% of survey respondents to say they are taking less risk than normal, a 2 percentage point increase from June. Interestingly, Hartnett noted that 66% retail investors as gauged by the American Association of Individual Investors surveys are in stocks, the "most bullish since late 2021." Hartnett also noted a "capitulation" move out of commodities, as managers have taken their most underweight position in the sector since May 2020. The July survey captured the sentiment of 262 respondents with $652 billion in assets under management. Sentiment surveys often can be contrarian indicators, so rising pessimism can be a good sign for markets.

Persons: Michael Hartnett, Hartnett Organizations: Bank of America Global Fund, Survey, U.S . Federal, Nasdaq, Big Tech, American Association of, Investors

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Persons: Sophie Raseman, Michael Hammelburger, Hammelburger, Renauld Smith, Delinquencies, Raseman, Smith

☆ China has a new foreign relations law. Here's what it means for business
▼ + stars: | 2023-07-11 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

Vcg | Visual China Group | Getty ImagesBEIJING — For foreign businesses in China, geopolitics hold more sway than new Chinese laws, according to analysts. Two new laws, one on espionage and the other on foreign relations, took effect July 1. In strictly legal terms, however, the legislative changes themselves don't increase the risk for foreign businesses in China, said Jeremy Daum, senior fellow at Yale Law School's Paul Tsai China Center. The website's translation of the Foreign Relations Law notes that foreign organizations in China "must not endanger China's national security, harm the societal public interest, or undermine societal public order." A House committee delegation discussed China business in their meeting with executives of high-profile U.S. tech and media companies in California in April.

Persons: Jeremy Daum, Yale Law School's Paul Tsai, Antony Blinken's, Michael House, Perkins, Daum, Mintz, It's, Alex Liang Anjie, Michael Hart, he's, Hart, Janet Yellen, Jens Eskelund, Alex Liang Organizations: Visual China, Getty, Yale Law, Yale Law School's Paul Tsai China Center, U.S, China, Foreign Relations, Mintz Group, Bain, Capvision Partners, Reuters, American Chamber of Commerce, Treasury, Companies, EU Chamber of Commerce Locations: BEIJING, China, Beijing, Washington, U.S, Shanghai, California, Broad

☆ World's biggest gallium buyer says clients stockpiling
▼ + stars: | 2023-07-11 | by ( Ludwig Burger | ) www.reuters.com time to read: +2 min

FRANKFURT, July 11 (Reuters) - China's planned export controls on gallium have caused frantic stockpiling of speciality semiconductor wafers made from the metal, according to the world's largest gallium buyer. Freiberger Compound Materials relies almost entirely on Chinese suppliers for its gallium needs to make wafers that go into mobile phone radio signal amplifiers and optical electronics. Chinese gallium companies have driven most rivals elsewhere out of the market by undercutting them on price over the last decade. Harz said his Chinese suppliers were providing authorities with data needed to obtain export licences. Harz does not believe that China will disrupt gallium trade flows over the next few years because that would quickly damage its own electronics industry.

Persons: There's, Michael Harz, Ludwig Burger, Matt Scuffham, Mark Potter Organizations: Reuters, Japan's Sumitomo Electric, Thomson Locations: FRANKFURT, East Germany, Harz, China, United States

During her first day of meetings in Beijing, Treasury Secretary Janet L. Yellen criticized punitive measures the Chinese government has taken against American firms. I’ve made clear that the United States does not seek a wholesale separation of our economies. Ms. Yellen conveyed her objections to China’s top officials, including Premier Li Qiang, in what was the first visit to China by a Treasury secretary in four years. A Treasury Department official said Ms. Yellen had discussed the outlook for the economy in an informal discussion with her former counterparts that lasted more than an hour. “The United States will, in certain circumstances, need to pursue targeted actions to protect its national security,” Ms. Yellen said.

Persons: Janet L, Yellen, I’ve, Biden, Yellen’s, Li Qiang, Ms, “ I’ve, Mark Schiefelbein, Wang Yong, Wang, ”, Shi Yinhong, “, China’s, Michael Hart, “ We’ve, Mr, Hart, Liu He, Yi Gang, Li, Li’s, ” Claire Fu, Christopher Buckley Organizations: U.S, American Chamber of Commerce, Boeing, Bank of America, Cargill, Group, Bain & Company, Beijing, Biden, of, People, ., Center for American Studies, Peking University, “, Renmin University, U.S . State Department, Chamber of Commerce, Treasury, People’s Bank of China, Treasury Department Locations: Beijing, United States, China, American, Shanghai, U.S, States

Despite talk of U.S.-China economic de-coupling, recent data show a trade relationship that is fundamentally solid, and rebounded in 2022 from five years of turmoil wrought by a trade war and COVID-19 disruptions. Two-way trade hit a record $690 billion last year as U.S. demand for Chinese consumer goods rose and Beijing's demand for U.S. farm products and energy grew. U.S.-China trade had fallen after 2018, when former President Donald Trump imposed tariffs of up to 25% on some $370 billion in Chinese imports, but began to rebound during the COVID recovery of 2021. Reuters Graphics"I think it is important that people realize that business and politics are separate," said Michael Hart, president of the American Chamber of Commerce in China. "The current state of U.S.-China trade and investment is the result of 30 to 40 years' worth of ongoing trade and investment."

Persons: Janet Yellen, Donald Trump, Michael Hart, William Reinsch, America's COVID, Wang Huiyao, Biden, Hart, David Lawder, Joe Cash, Heather Timmons, Jamie Freed Organizations: U.S, Treasury, Reuters, American Chamber of Commerce, Census, Center for Strategic, International Studies, Center for, EV, U.S . Congress, Thomson Locations: WASHINGTON, BEIJING, China, U.S, Washington, Center for China, Beijing, United States, CHINA

[1/4] U.S. Treasury Secretary Janet Yellen meets with representatives of the U.S. business community in China in Beijing, July 7, 2023. REUTERS/Thomas PeterBEIJING, July 7 (Reuters) - U.S. Treasury Secretary Janet Yellen on Friday called for market reforms in China and criticized the world's second-largest economy for its recent "punitive" actions against U.S. companies and new export controls on some critical minerals. MARKET REFORMSYellen also took aim at China's planned economy, urging Beijing to return to more market-oriented practices that had underpinned its rapid growth in past years. "A shift toward market reforms would be in China’s interests," the former top U.S. central banker told the U.S. business executives. Yellen noted that China's enormous and growing middle-class provided a big market for American goods and services, and stressed that Washington's targeted actions against China were based on national security concerns.

Persons: Janet Yellen, Thomas Peter BEIJING, Yellen, Liu He, Xi Jinping, Yi Gang, Premier Li Qiang, Yellen's, Michael Hart, Joe Biden, Xi, Antony Blinken, John Kerry, Washington, Andrea Shalal, Michael Perry, Toby Chopra Organizations: . Treasury, REUTERS, U.S, American Chamber of Commerce, Treasury, Premier, BIDEN, Economic Cooperation, Thomson Locations: China, Beijing, United States, Washington, U.S, TEEING, New Delhi, Asia, San Francisco, Ukraine

The official said Yellen and her Chinese interlocutors had a "substantive conversation," without giving any further details. "We will take action to protect our national security when needed, and this trip presents an opportunity to communicate and avoid miscommunication or misunderstanding," Yellen wrote. U.S. firms in China hope Yellen's visit will ensure trade and commercial lanes between the two economies remain open, regardless of the temperature of geo-political tensions. "I think if there was another year of no visits by top U.S. government leaders, the market would get colder," he added. Reporting by Joe Cash, Ellen Zhang and Ryan Woo; Editing by Himani Sarkar and Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

Persons: Janet Yellen, Yi Gang, Liu, Yellen, interlocutors, Xi Jinping, Yellen's, Michael Hart, Joe Cash, Ellen Zhang, Ryan Woo, Himani Sarkar, Kim Coghill Organizations: . Treasury, Treasury, Twitter, American Chamber of Commerce, U.S, Thomson Locations: BEIJING, U.S, Beijing, Zurich, China

Yellen is due to meet with Chinese Vice Premier He Lifeng -- her direct counterpart as China's top economic official -- on Saturday, a U.S. Treasury official said. MARKET REFORMSYellen also took aim at China's planned economy, urging Beijing to return to more market-oriented practices that had underpinned its rapid growth in past years. "A shift toward market reforms would be in China's interests," she told the AmCham event. Yellen dismissed the idea of decoupling the U.S. and Chinese economies, nothing that China's enormous and growing middle-class provided a big market for American goods and services. A Treasury official said the vibrant U.S. business community in China was "a living embodiment that we are not decoupling."

Persons: Yellen, Li, Janet Yellen, Li Qiang, Washington, Liu He, Xi Jinping, Yi Gang, Mark Schiefelbein, Yellen's, Michael Hart, BIDEN, Joe Biden, Xi, Antony Blinken, John Kerry, Andrea Shalal, Joe Cash, David Lawder, Catherine Evans, Heather Timmons, Alistair Bell Organizations: China, . Treasury, U.S, Treasury, American Chamber of Commerce, of, People, REUTERS U.S, Economic Cooperation, Thomson Locations: U.S, BEIJING, China, Beijing, United States, Washington, New Delhi, Asia, San Francisco, Ukraine

☆ MLB roundup: Astros blow big lead, still top Rangers 12-11
▼ + stars: | 2023-07-04 | by ( ) www.reuters.com time to read: +4 min

[1/5] Jul 3, 2023; Arlington, Texas, USA; Houston Astros first baseman Jose Abreu (79) bats against the Texas Rangers during the sixth inning at Globe Life Field. Astros closer Ryan Pressly ended the game by striking out Jonah Heim for his 18th save. Adolis Garcia's solo homer tied the game at 10-10 in the seventh, and Corey Seager's sacrifice fly gave Texas an 11-10 lead in the eighth. Milwaukee trailed 6-3 before tying the game with two outs in the seventh inning on Jahmai Jones' bases-clearing, pinch-hit double. The Cubs threatened with two runners on and two outs in the ninth inning before Devin Williams struck out Dansby Swanson to secure Milwaukee's largest comeback victory of the season.

Persons: Jose Abreu, Jerome Miron, Chas McCormick, Abreu, McCormick, Will Smith, Ryan Pressly, Jonah Heim, Bryan Abreu, Travis Jankowski, Adolis, Corey Seager's, Willy Adames, Jahmai Jones, Adames, Mark Leiter Jr, Owen Miller's, Devin Williams, Dansby Swanson, Nick Madrigal, Tucker Barnhart, Michael Harris II, Marcell Ozuna, Bryce Elder, Raisel Iglesias, Gavin Williams, Steven Kwan, Joey Votto, Tyler Stephenson, Luke Weaver, Ian Gibaut, Buck Farmer, Derek Law, Alexis Diaz, Jeimer Candelario, Dickerson, Lane Thomas, Jake Irvin, Yuli Gurriel, Louis, Gurriel, Nick Fortes, Huascar Brazoban, Puk, Willson Contreras, Harrison Bader, York's Giancarlo Stanton, Yennier Cano, Anthony Rizzo, Danny Coulombe, Bader, Domingo, Tommy Kahnle, Clay Holmes Organizations: Houston Astros, Texas Rangers, Life, Astros, Rangers, Brewers, Cubs, Milwaukee, Chicago, Braves, Atlanta, Cleveland, Guardians, Reds, Cincinnati, Washington, Nationals, Marlins, Cardinals, Miami, The Marlins, Yankees, Orioles, New York, Baltimore ., Thomson Locations: Arlington , Texas, USA, Houston, Texas, Baltimore

☆ Bank of America's top stock picks for the third quarter
▼ + stars: | 2023-07-04 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

Bank of America is out with its latest short-term stock picks as the third trading quarter of the year gets underway. "Over the last quarter, the BofA Macro view has evolved," strategist Anthony Cassamassino wrote in a note Monday. Bank of America gathered its 10 best ideas for the new quarter, all of them buy-rated, Cassamassino said. The bank also sees multiple growth drivers this year and improvements in merchandise margins as cost inflation and freight expenses normalize. Its $135 price target on the stock is more than 50% above its closing price Friday.

Persons: Anthony Cassamassino, Savita Subramanian, Michael Hartnett, Michael Gapen, Stephen Suttmeier, Cassamassino, it's, Lamb Weston, Wells, defensibility Organizations: of America, U.S, Our U.S . Economist, " Bank of America, Body, Bank of America, Disney, Wells Fargo Locations: Our

☆ TipRanks reveals the top 10 Wall Street basic materials sector analysts
▼ + stars: | 2023-07-02 | by ( Tipranks.Com Staff | ) www.cnbc.com time to read: +4 min

TipRanks recognized the 10 best analysts in the basic materials sector who delivered noteworthy returns and whose recommendations outperformed their peers. In the process, it analyzed every recommendation by analysts in the basic materials sector over the past 10 years. Then, TipRanks' algorithms calculated the statistical significance of each rating, analysts' overall success rate and the average return. Top 10 analysts from the basic materials sectorThe image below shows the most successful Wall Street analysts from the basic materials sector. T J Schultz — RBC CapitalT J Schultz has the 10th spot on the list, with a success rate of 63%.

Persons: Rafael Henrique, Lightrocket, TipRanks, Dan Payne, Bank Dan Payne, Payne, Leo Mariani — Roth MKM Leo Mariani, John Freeman — Raymond James Raymond James, John Freeman, Freeman, Poe Fratt, Global Partners Poe, Elvira Scotto —, Elvira Scotto, Vincent Lovaglio, Scott Hanold, Michael Harvey —, Michael Harvey, Harvey, Dalton Baretto, Canaccord Genuity Dalton Baretto, T J Schultz —, J Schultz Organizations: Bank, Birchcliff Energy, Resources, Vital Energy, Global Partners, Elvira Scotto — RBC, Crestwood Equity Partners, Mizuho Securities, Comstock Resources, RBC Capital RBC Capital, Matador Resources, Michael Harvey — RBC Capital, RBC Capital, Seven Generations Energy, Generations Energy, ARC Resources, T J Schultz — RBC, Targa Resources Locations: Canada

☆ MLB roundup: Shohei Ohtani hits two homers, fans 10
▼ + stars: | 2023-06-28 | by ( ) www.reuters.com time to read: +10 min

Ohtani (7-3) wound up charged with one run on four hits and two walks. Jordan Montgomery (5-7) allowed two runs, one earned, on six hits in 6 2/3 innings. Framber Valdez (7-6) gave up four runs on eight hits in six innings for the Astros, who lost for the eighth time in 11 games. Rockies starter Connor Seabold (1-4) gave up four runs on five hits in five innings. Gallen (10-2) grinded through six innings, allowing four runs (all in the second inning) on five hits.

Persons: Shohei Ohtani, Kirby Lee, Ohtani, Carlos Estevez, Seby Zavala, Elvis Andrus, Eloy Jimenez, Michael Kopech, Ezequiel Duran, Adolis Garcia, Duran, Brendan White, Corey Seager, Nathaniel Lowe's, Garcia, Spencer Torkelson, Paul DeJong, Louis, Nolan Arenado, Jordan Montgomery, Framber Valdez, Clayton Kershaw, Martinez, Kershaw, Elias Diaz, Brenton Doyle, Colorado's, Martinez's, Connor Seabold, Evan Phillips, Diaz, Lane Thomas, Jordan Weems, Weems, Seattle's Trevor Gott, Keibert, Paul Sewald, Teoscar Hernandez, Ronald Acuna Jr, Acuna, Austin Riley, Sean Murphy, Michael Harris, Carlos Correa, Orlando Arcia's, Thairo Estrada, Alex Wood, Patrick Bailey, Kevin Gausman, Ryan Walker, Wood, Carlos Santana, Jack Suwinski, Nick Gonzales, Gonzales, Santana, Andrew McCutchen, Henry Davis, Rodolfo Castro, Rich Hill, Reiss Knehr, Yu Darvish, Sandy Alcantara, Bryan De La, Jazz Chisholm, Luis Arraez, Garrett Whitlock, Will Brennan, Gavin Williams, Trevor Stephan, Emmanuel Clase, Terry Francona, DeMarlo Hale, Brady Singer, Scott Barlow, David Peterson, Brandon Nimmo, Francisco Lindor, Daniel Vogelbach, Peterson, Brian Anderson, Ranger Suarez, Suarez, Cody Bellinger, Nick Madrigal, Brandon Marsh, Jameson Taillon, Matt McLain, McLain's, TJ Friedl, Andrew Abbott, Tyler Wells, Jordan Westburg, Corbin Carroll, Zac Gallen, Christian Walker, Evan Longoria, Ketel Marte, Taj Bradley, Jose Siri, Paul Blackburn, Tyler Wade, Esteury Ruiz, Jhony Brito, Seth Brown, Josh Donaldson, Blackburn Organizations: Los Angeles Angels, Chicago White Sox, Angel, USA, White Sox, Chicago, Rangers, Tigers, Detroit, Cardinals, Astros, Houston, Dodgers, Rockies, Angeles, Colorado, Mariners, Washington, Seattle, Braves, Atlanta, The Twins, Giants, Blue Jays, Toronto, Pirates, Padres, Pittsburgh, San, Marlins, Red Sox, Miami, Boston, Bryan De La Cruz, . Red Sox, Royals, Cleveland, Kansas City, The Royals, Mets, Brewers, Milwaukee, Triple, Phillies, Cubs, Philadelphia, Reds, Orioles, Cincinnati, Baltimore, Diamondbacks, Rays, Tampa, The Diamondbacks, Gallen, Tampa Bay, Athletics, Yankees, Oakland, Blackburn, Thomson Locations: Anaheim , California, USA, Anaheim , Calif, Texas, Arlington , Texas, Denver, Minnesota, Atlanta, Francisco, Toronto, San Diego, Kansas, Cleveland, Syracuse, Baltimore, Arizona, Tampa Bay, Phoenix, Tampa, New York

☆ Is the AI-led 'baby bubble' bursting? BofA says tech stocks just saw their biggest outflow in 10 weeks.
▼ + stars: | 2023-06-23 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

Investors just sold off $2 billion in tech shares, the largest outflow in 10 weeks. Previously, the bank called AI a "baby bubble," comparing it to the 2000s dot-com craze. Previously, Hartnett compared the excitement for AI to the dot-com bubble, when internet stocks boomed before the Nasdaq Composite plunged 78% in the early 2000s. In a prior note, he called Wall Street's excitement for AI a "baby bubble," and suggested that AI stocks could soon "mature" as internet stocks did in 1999. Along with Hartnett, UBS's Art Cashin and veteran economist David Rosenberg have also drawn parallels with the current boom in AI stocks to the dot-com bubble.

Persons: —, Michael Hartnett, Tesla, Hartnett, Cashin, David Rosenberg Organizations: Bank of America, Investors, Service, Tech, Microsoft, Nvidia, Apple, Nasdaq, Labor

☆ MLB roundup: Blake Snell helps Padres avoid sweep, dump Giants
▼ + stars: | 2023-06-23 | by ( ) www.reuters.com time to read: +7 min

He gave up six runs on four hits over 3 1/3 innings with four walks and two strikeouts. He allowed just one run on seven hits and struck out five while retiring seven of the final eight batters he faced. A's starter JP Sears (1-5) went seven innings for the second straight outing. The Marlins got a career-high 13 strikeouts in seven strong innings from starter Braxton Garrett, who left with a no-decision. The win went to Huascar Brazoban (2-1), and A.J.

Persons: Blake Snell, Sergio Estrada, Gary Sanchez, Manny Machado, Seong Kim, Sanchez, Snell, Alex Wood, Patrick Bailey, Byron Buxton, Joe Ryan, Jose Berrios, Berrios, Ryan, Buxton, Bryan Woo, Woo, Gleyber Torres, Anthony Rizzo, Isiah Kiner, Aaron Judge, Kolten Wong, Ty France, Teoscar Hernandez, Cal Raleigh, Domingo, Michael Harris II, Marcell Ozuna, Bryce Elder, Raisel Iglesias, Brandon Marsh, Alec Bohm, Tommy Henry, Riley Adams, Josh Bell, Myles Straw, Logan Allen, Nick Sandlin, JP, Garrett Cooper slugged, Braxton Garrett, Huascar Brazoban, Puk, Miami's Luis Arraez, Mitch Keller, Cooper's, Carmen Mlodzinski, Keller, Melendez, Yandy Diaz, Pete Fairbanks, Maikel Garcia, Aroldis Chapman, Scott Barlow, Randy Arozarena, Diaz, Shane McClanahan Organizations: San Diego Padres, San Francisco Giants, Oracle, USA, Padres, Giants, Red Sox, Twins, Chicago White Sox, Baltimore Orioles, Mariners, Yankees, Seattle, Cal, Braves, Phillies, Philadelphia, 10th, Diamondbacks, Washington, The Diamondbacks, Nationals, Athletics, Cleveland, Oakland, Guardians, JP Sears, Marlins, Pirates, Miami, New York Mets, Royals, Rays, Kansas City, Tampa, Thomson Locations: San Francisco , California, USA, Diego, Boston, Minneapolis, New York, Atlanta, Arizona, Pittsburgh, Tampa, St . Petersburg, Fla

☆ As growth stalls for the U.S. and China, Blinken talked up economic ties in high-stakes Beijing trip
▼ + stars: | 2023-06-21 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

Leah Millis | Afp | Getty ImagesBEIJING — Secretary of State Antony Blinken underscored the importance of the economic aspects of the bilateral U.S.-China relationship during his high-stakes trip to Beijing earlier this week. The German Chamber of Commerce in China said that during her Beijing trip, Baerbock visited German company Flender, a gearbox manufacturer. Chairman Colm Rafferty and Vice Chair Roberta Lipson attended the meeting with Blinken on behalf of AmCham China. Slowing growthRegulatory challenges aside, a more pressing issue for businesses is slower economic growth in China and the U.S. in the last few months. He said the growth of major economies such as China is in the U.S. interest and described the economic relationship as "vitally important."

Persons: Antony Blinken, Xi Jinping, Leah Millis, Blinken, Michael Hart, Hart, Annalena Baerbock, Baerbock, Colm Rafferty, Roberta Lipson, AmCham, Xi, Gabriel Wildau, Teneo, Central Foreign Affairs Office Wang Yi, Qin, Trump, Yellen, Joe Biden, it's, Biden Organizations: of, People, Afp, Getty, BEIJING —, State Department, American Chamber of Commerce, CNBC, German, of Commerce, The U.S . Department, State, Communist, Central Foreign Affairs Office, Qin Gang, U.S . Federal Reserve Locations: Beijing, BEIJING, U.S, China, AmCham China, The, China U.S, Taiwan

☆ CNBC Daily Open: Fueled by the FOMO momentum
▼ + stars: | 2023-06-19 | 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. Stocks' streak snappedU.S. stocks fell Friday, with the S&P 500 and Nasdaq Composite snapping their six-day winning streak. Asia-Pacific markets mostly dropped Monday as well, with markets in China, Japan and South Korea trading lower. Tesla's self-driving ambitionsElon Musk said the value of Tesla depends on whether it can crack the code to self-driving vehicles.

Persons: Antony Blinken, Qin Gang, Biden, China Goldman Sachs, Elon Musk, Tesla, Bull, Michael Hartnett, Hartnett, it'll Organizations: U.S ., Microsoft, CNBC, Nasdaq, China U.S, Foreign, Qin, Bears, Bank of America Chief Investment Locations: U.S, Issy, France, Asia, Pacific, China, Japan, South Korea, Beijing, Wall

☆ CNBC Daily Open: The FOMO momentum
▼ + stars: | 2023-06-19 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

(Photo by I RYU/VCG via Getty Images)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. Stocks' streak snappedU.S. stocks fell Friday, with the S&P 500 and Nasdaq Composite snapping their six-day winning streak. Tesla's self-driving ambitionsElon Musk said the value of Tesla depends on whether it can crack the code to self-driving vehicles. There are three factors, according to Hartnett, that'll allow stocks to continue their current rally — though he worries it'll be a "big rally before big collapse."

Persons: RYU, Elon Musk, Tesla, Antony Blinken, Qin Gang, Biden, Bull, Michael Hartnett, Hartnett, it'll Organizations: Microsoft, Getty, CNBC, Nasdaq, gilts, Amazon, China U.S, Foreign, Qin, Bears, Bank of America Chief Investment Locations: Seattle , Washington, Blinken, China, Beijing, U.S

☆ Is the AI stock boom a dot-com-style bubble? David Rosenberg, Jeremy Siegel, and 5 other experts weigh in.
▼ + stars: | 2023-06-18 | by ( Zinya Salfiti | ) www.businessinsider.com time to read: +5 min

Experts including David Rosenberg and analysts from Wall Street banks including Bank of America have compared the AI stock boom to the dot-com bubble that burst in 2000. Here's a selection of the most recent expert views on this year's AI stock boom. But not everyone thinks the AI stock boom has run too far. Michael Hartnett, Bank of AmericaMichael Hartnett, BofA Global Research's CIO, said AI is in a "baby bubble" for now and noted that "AI = internet." Jeremy Siegel, Wharton finance professorThe retired Wharton finance professor doesn't see the AI hype as a bubble, either.

Persons: David Rosenberg, Wharton's Jeremy Siegel, Dan Ives, —, Wharton, Jeremy Siegel, Dan Raju, Michael Hartnett, Bank of America Michael Hartnett, BofA, James Penny, TAM Asset Management James Penny, I'd, Art Cashin, Cashin, Rosenberg, doesn't Organizations: Bank of America, Wedbush Securities, Service, Wall, UBS, TAM Asset Management, Nvidia, Microsoft, BofA Global, firm's, Bloomberg, Art, CNBC Locations: Wall

☆ Nikki Haley: Deployment ceremony for GOP candidate's husband takes place in South Carolina
▼ + stars: | 2023-06-17 | by ( Kate Sullivan | ) edition.cnn.com time to read: +3 min

CNN —The official deployment ceremony for a South Carolina Army National Guard brigade that includes Michael Haley, the husband of Republican presidential candidate Nikki Haley, is set to take place Saturday in Charleston. The ceremony is scheduled to be held at The Citadel military college ahead of the brigade’s deployment to Africa in support of the United States Africa Command. One person familiar with the details of the deployment told CNN that Michael Haley will likely remain deployed through the spring of 2024, which overlaps with much of the Republican primary nominating calendar. This will be his second active-duty deployment overseas – he previously served in Afghanistan as part of the South Carolina Army National Guard in 2013 when his wife was serving as the state’s governor. “We’re so proud,” the former governor said when asked how she and her family felt about Michael Haley going overseas for a year.

Persons: Michael Haley, Nikki Haley, ” Nikki Haley, Trump, “, ” Haley, Allison Joyce, Donald Trump, “ Trump, ” Michael Haley, Iowa Sen, Joni Ernst’s Organizations: CNN, South Carolina Army National Guard, Citadel, United States Africa Command, United Nations, Fox News, Trump, UN, Department of Justice, Iowa, GOP Locations: Charleston, Africa, Afghanistan, “, Iowa, Charleston , South Carolina, Miami, New Hampshire, Des Moines

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