DIRS.INFO The most relevant business & tech news

☆ Trading legend Art Cashin is skeptical of the sentiment-driven rally and warns a 'bump in the road could turn out to be a landmine'
▼ + stars: | 2023-06-30 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

The current market upswing is largely sentiment driven, Wall Street trading legend Art Cashin said. "Short of going absolutely parabolic, this has been some dramatic, pyrotechnic run on this rally." "I think, short of going absolutely parabolic, this has been some dramatic, pyrotechnic run on this rally." Asked if there's an "unknown unknown" that could undo the rally in the second half of the year, he said that's possible. "Sentiment is so great that a bump in the road could turn out to be a landmine," Cashin said, later adding, "so far the trend is going.

Persons: Art Cashin, —, Cashin, Jerome Powell Organizations: Wall Street, Service, Nasdaq, UBS, CNBC, Nvidia, Apple, Federal Reserve

☆ The billionaires' beef at Two Sigma seems pretty petty
▼ + stars: | 2023-06-29 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

ICYMI: This is the last week of 10 Things on Wall Street. Insider's Rebecca Ungarino has more details on how long the beef between Overdeck and Siegel has been brewing behind the scenes. What stands out to me about the drama at Two Sigma is how it all seems to be so petty. The Two Sigma cofounder was included only as an example of the type of managers Haider had eclipsed. The asset manager tapped two internal executives to serve as co-CEOs of the firm, succeeding CEO Jay Wintrob, The Wall Street Journal reports.

Persons: Dan DeFrancesco, I'm, Billy Joel's, —, we've, Goldman, Cofounders David Siegel, John Overdeck, David Siegel, cofounders, Insider's Rebecca Ungarino, Siegel, Rebecca, Haidar Capital's Said Haidar, Haider, Penny, Warren Buffett, Charlie Munger, Scott Olson, Ruobing Su, Michael Broadbery, Goldman Sachs, Maza, Andreessen Horowitz, Seth Klarman, Jay Wintrob, Robert O'Leary, Armen Panossian, Everybody's, they're, Joey Hadden, Jeffrey Cane, Hallam Bullock Organizations: Sigma, Baupost, Oaktree Capital, Street, Wall, LinkedIn Locations: Omaha, New York, London

☆ Crypto is trying to fix its custody problem as institutions pour in and regulatory uncertainty lingers
▼ + stars: | 2023-06-29 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +8 min

And the highly regulated institutions wanting to give their clients access to bitcoin are still a little skeptical that the crypto industry has learned its lessons. Another issue is there aren't enough dedicated custodians in the crypto industry. The Go Network acts as a platform on which partner firms can execute and settle trades between crypto assets and fiat currencies. BitGo handles custody of crypto assets while dollars are spread across a network of banks for safekeeping. "[The crypto industry] was operating on the edge, saying, it's risky, but we're making a lot of money.

Persons: Crypto, Bitcoin, Roger Bayston, Franklin Templeton's, FTX, Schwab, Gustavo Schwenkler, It's, David Wells, haven't, it's, BitGo, Mike Belshe, CNBC's, Wells, Belshe, BlackRock's Joseph Chalom, Franklin Templeton's Bayston Organizations: Crypto, New York City, Arrows, Terraform, Securities and Exchange, Fidelity, Citadel, EDX, Valley Bank, First, Leavey School of Business, Santa Clara University, Nasdaq, Bank of New York Mellon, CNBC, Go, Markets, Schwab, BlackRock, Securities, Exchange, Coinbase Locations: Coinbase State, New York, First Republic, PacWest, Wells

☆ Don't budget, says financial psychologist. Here's why he recommends a 'spending plan' instead
▼ + stars: | 2023-06-27 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +2 min

Budgets help address maladaptive financial behavior or areas where you need control, such as overspending or spending leakages. "Psychologically, 'budgets' sound restrictive. 'Spending plans' sound a lot better — they give a lot more freedom and flexibility," he said. "It's about giving yourself permission to start the life stage that you're in and then go on to the next one," said Cherry. Jump-start your financial journey by being honest with yourself on where you are standing.

Persons: Preston D, Cherry Organizations: CNBC's Locations: Green Bay , Wisconsin

☆ How 2 Gen X moms are grappling with food stamp cuts, surviving off $23 in monthly benefits and struggling to pay bills
▼ + stars: | 2023-06-25 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +6 min

Cuts have made it difficult for these Gen X moms to put food on the table or pay their bills. In mid-May, her Supplemental Nutrition Assistance Program, or SNAP, benefits check dropped from $516 to just $23. Starting in March, millions of Americans receiving SNAP benefits lost hundreds of dollars from their grocery budgets as the pandemic-era food stamps expansion ended. To supplement her sudden drop in benefits, she's gotten food from local food pantries, though they rarely had meats, gave out expired breads, and mostly had canned foods. Do you rely on SNAP benefits and are affected by these changes?

Persons: —, Venus Barnes, She's, she's, everybody's, Barnes, Joe Biden, Kevin McCarthy, — Barnes, I've, I'm, Khiana Organizations: SNAP, Service, Collins Aerospace, Assistance, Social, Food Research, Action, Security, Insurance Locations: North Carolina, Maryland

☆ Goldman Sachs faces big writedown on CEO David Solomon’s ill-fated GreenSky deal
▼ + stars: | 2023-06-23 | by ( Hugh Son | ) www.cnbc.com time to read: +1 min

Goldman Sachs CEO David Solomon speaks during the 2023 Forbes Iconoclast Summit at Pier 60 on June 12, 2023 in New York City. Goldman Sachs is likely to take a large write-down for its 2021 acquisition of fintech lender GreenSky after seeking to unload the business, CNBC has learned. Bids for the installment loan business are coming in well below what Goldman had hoped for, according to people with knowledge of the sale process. Under CEO David Solomon, Goldman bought Atlanta-based GreenSky for $2.24 billion to help accelerate its push into consumer finance. "Everybody's been coming in low, and the Goldman team keeps pushing back, pounding the table about the value of it," said one of the bidders.

Persons: Goldman Sachs, David Solomon, Goldman, Solomon, Warburg Pincus, Everybody's Organizations: Forbes, CNBC, KKR, Apollo Global Management, Sixth Street Partners, Synchrony Bank, Goldman Locations: New York City, Atlanta

☆ CNBC Daily Open: Everybody's fighting inflation
▼ + stars: | 2023-06-22 | by ( Clement Tan | ) 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. Rally fadesU.S. stocks fell on Wednesday for the third-straight session as investors took a breather from last week's rally. In Europe, markets lost ground after U.K. inflation data came in higher than expected. More hikesFed Chair Jerome Powell reaffirmed his belief that more rate hikes are likely until more progress is made on bringing down inflation.

Persons: Jerome Powell, Goldman Sachs Organizations: CNBC, Intel, Taiwan Semiconductor Manufacturing Company, Financial Services Committee, bullishness, EV Locations: Europe, BlackRock

☆ All eyes on projected top pick Wembanyama ahead of NBA Draft
▼ + stars: | 2023-06-21 | by ( ) www.reuters.com time to read: +3 min

June 21 (Reuters) - When it comes to the 2023 NBA Draft, there is Victor Wembanyama and then there is everyone else. A so-called generational talent who can quickly change the trajectory of a franchise, Wembanyama is the most anticipated and hyped NBA Draft prospect since LeBron James, the league's all-time leading scorer, in 2003. I've never seen anything quite like him on a basketball floor," ESPN basketball analyst Jay Bilas said on a conference call. The Charlotte Hornets own the second pick in the NBA Draft while the Portland Trail Blazers are set to pick third overall. There will be 58 picks across two rounds in the 2023 NBA Draft instead of the usual 60 because Philadelphia and Chicago forfeited a second-round pick due to violating rules governing free agency discussions.

Persons: Victor Wembanyama, Wembanyama, LeBron James, I've, Jay Bilas, Antonio, Basketball Hall of Famers David Robinson, Tim Duncan, Duncan, San, James, Everybody's, LeBron, We've, Frank Pingue, Ken Ferris Organizations: San Antonio Spurs, NBA, ESPN, Basketball Hall of Famers, Spurs, Metropolitans, French League, Charlotte Hornets, Portland Trail Blazers, Philadelphia, Chicago, Thomson Locations: San Antonio, Toronto

☆ With more than $1 billion in deals in the works, Wall Street is poised to get back into the home buying game
▼ + stars: | 2023-06-21 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +4 min

Wall Street landlords raised $110 billion to buy homes but have had a quiet year. One large transaction, and one large listing, could signal that investors are ready to start buying. The single-family rental market, a popular playground of Wall Street landlords in 2020 and 2021, has been in a deep-freeze for the last year. Rising borrowing costs and a shakier housing market halted most transactions, leaving idle much of the $110 billion raised to buy homes. The company, which was valued at nearly $2 billion last year, says it has facilitated more than $5 billion in deals.

Persons: dealmaking, Goldman Sachs, Don Mullen, DR, Barry Sternlicht's, redemptions, Gary Beasley, Roofstock, Allison Arest, Topping, Beasley, Morgan Stanley's, Ellen Zentner, Jay Powell, LeMaistre, everybody's Organizations: Bloomberg, Barry Sternlicht's Starwood Group, Fed Locations: Beach

☆ 'Big Short' investor Steve Eisman looks beyond tech and is making a big bet on infrastructure
▼ + stars: | 2023-06-16 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Steve Eisman is looking beyond the hype around tech, and is betting big on US infrastructure. He cited one utility stock that's jumped 34% year to date, due to infrastructure needs. Citing a utility stock called Quanta Services, he said "the opportunities for the company have been enormous, so the stock has been revalued." Eisman has bet on the grid since at least February, when he said that tech stocks might struggle in the face of climbing interest rates. Though he said on the podcast that tech stocks are investible for a long time, he said it's unclear how they may move in the future.

Persons: Steve Eisman, Bloomberg's, —, United States — everybody's, Neuberger Berman, Eisman, — Eisman, it's Organizations: Service Locations: United States

☆ McCarthy, US House hardliners reach deal to allow votes
▼ + stars: | 2023-06-12 | by ( David Morgan | ) www.reuters.com time to read: +3 min

[1/2] U.S. House Speaker Kevin McCarthy (R-CA) speaks to reporters on Capitol Hill in Washington, U.S., June 8, 2023. If we don't have that, there are going to be fights," Representative Ralph Norman told reporters after he and several other members of the House of Representatives met with McCarthy. "We had a very productive meeting tonight," McCarthy told reporters after the meeting. The House is scheduled to begin voting on delayed Republican bills on Tuesday, starting with a floor rule governing debate and votes on passage. But the hardliners are also looking to expand their influence over the House Republican agenda.

Persons: Kevin McCarthy, Amanda Andrade, Rhoades, McCarthy, Ralph Norman, Joe Biden, Matt Gaetz, David Morgan, Andy Sullivan, Mary Milliken, Matthew Lewis Organizations: ., Capitol, REUTERS, Republican, Freedom Caucus, Congress, Democratic, Thomson Locations: Washington , U.S, WASHINGTON, Washington

☆ Goldman Sachs: These are the 24 best AI stocks to buy now as the technology boosts productivity and profits for decades
▼ + stars: | 2023-06-10 | by ( James Faris | ) www.businessinsider.com time to read: +4 min

Here are 24 top stocks to buy for exposure to AI, according to Goldman Sachs. Although artificial intelligence (AI) has been on everybody's minds lately, Goldman Sachs thinks investors may still be underselling how influential the technology can be. Goldman Sachs expects that AI will dramatically improve economic productivity and corporate earnings across the market. Stocks should be trading higher now based on how AI will impact businesses in the future, Goldman Sachs argued. Below are the 24 stocks in Goldman Sachs' AI basket, along with the ticker, market capitalization, and forward price-to-earnings (P/E) ratio for each.

Persons: Goldman Sachs, Ryan Hammond, Goldman, Hammond, Cashin, Goldman Sachs isn't Organizations: UBS, Microsoft, Intel

☆ The free lunch is over for Wall Street's programmers
▼ + stars: | 2023-06-09 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +4 min

For as long as I can remember, the safest place on Wall Street for job security was in tech. But according to one Wall Street billionaire, that sentiment won't hold true for much longer. As Insider's Paige Hagy reports, Griffin instead highlighted how programmers need to position themselves to provide the most value to companies in this post-ChatGPT world. In the before times (pre-ChatGPT), no one was really questioning the value programmers were adding. At least that's the take from Wall Street vet Marty Chavez.

Persons: Dan DeFrancesco, Pharrell Williams, we've, BlackRock's, I'm, Wutthichai, Ken Griffin, Griffin, Griffin wasn't, Insider's Paige Hagy, it's, Read, Flo Rida, Drake, Tommaso Boddi, Erica, John Waldron, Kim Kardashian, Marty Chavez, he's, Ray Dalio, Everybody's, Jeffrey Cane, Nathan Rennolds Organizations: Bank of America, Wall Street, BlackRock, Goldman, SKKY Partners, Wall, Bridgewater, LinkedIn Locations: NYC, London, BlackRock, New York

☆ Why young workers are posting their before-and-after work routines on Tiktok — and why thousands are watching
▼ + stars: | 2023-06-07 | by ( Alexandra York | ) www.businessinsider.com time to read: +5 min

Content creators are sharing their routines before and after work on TikTok. Kakalecik has more than 16,000 followers on TikTok and is part of a growing number of 9-to-5 workers sharing their daily routines. But it's not just attractive to followers; creators find a sense of purpose when filming content, too. It's also for the content creators themselves. For Barbour, showing up on TikTok reminds him that there is more to life than work.

Persons: —, Jocelyn Kakalecik, swiping, TikTok, it's, Emmanuel Boateng Jr, Boateng, Kakalecik, Cameron Barbour, Barbour, It's, I've Organizations: Service, Productivity Locations: New York City, America

☆ 'This is just the beginning of a revolution': DeepMind cofounder says personal AI assistants will make us better at basically everything
▼ + stars: | 2023-06-07 | by ( Cadie Thompson | ) www.businessinsider.com time to read: +4 min

Personal AI assistants will help make humans more efficient, the cofounder of DeepMind said. Personal AI assistants will also change how people search for information. Personal AI assistants that can do everything from shop and negotiate on your behalf are the future of AI, Mustafa Suleyman, the cofounder of DeepMind and CEO of Inflection AI, said Tuesday during an interview with CNBC. Suleyman, of course, has a vested interest in personal AI assistants. Suleyman isn't the only tech leader that thinks personal AI assistants will mark a profound change in how we use technology.

Persons: DeepMind, Mustafa Suleyman, Suleyman, Pi, isn't, Suleyman isn't, Bill Gates, Goldman Sachs, Bard Organizations: CNBC, Google, AIs, SV Angel

ISTANBUL, June 6 (Reuters) - Global airlines called on Tuesday for broad co-operation to reach "very tough" emission targets and pledged to release interim climate targets next year as the industry aims for a goal of net-zero by 2050. Airlines are relying for 62% of their emissions reduction target on the fuel, which is currently between two to four times more expensive than kerosene. Walsh said airlines were not afraid to confront the fact that their share of total emissions will rise as other industries with fewer technological hurdles decarbonise. "Different parts of the world are moving at different paces and for us, representing global airlines, we've got to factor all of that into account." One thing airlines agreed on was frustration at aircraft delays, which have disrupted their schedules, with CEOs asking IATA to lobby planemakers.

Persons: Willie Walsh, Walsh, Jo Dardenne, Tim Clark, Clark, we've, Joanna Plucinska, Tim Hepher, Andrew Heavens, Sriraj Kalluvila, Alexander Smith Organizations: Aviation, International Air Transport Association, Sustainable Aviation Fuel, SAF, Transport, Environment, Dubai's Emirates, Reuters, Thomson Locations: ISTANBUL, Istanbul, planemakers, United States, Dubai

☆ As the market starts to cool down, Cramer says don't be afraid to stay bullish
▼ + stars: | 2023-06-03 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

CNBC's Jim Cramer told investors on Friday to stay bullish going into the week ahead, even as the market starts to cool down. "I liked [the market] more yesterday than I do today because it's higher, and that's how you have to think." On Monday, Cramer will be watching Apple 's Worldwide Developers Conference, where new products, ideas and software updates will be on display. Cramer's bottom line is to stay bullish, as he believes the Fed won't drastically raise rates at its next meeting. "We are not going to overstay our bullish welcome mat because others are stomping on it," Cramer said.

Persons: CNBC's Jim Cramer, Cramer, everybody's, Brinker, Chipotle — Organizations: Apple, American Society of Clinical Oncology, Moderna, Merck, Bristol, Myers, Darden

☆ Finland is paying for people to come visit so they can learn how to be happy. Here's why.
▼ + stars: | 2023-05-27 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +4 min

Finland is paying for people to visit the country so they can learn how to be happy. The Visit Finland organization will fly 14 people to the country's lake district for a masterclass. The country's happiness masterclass, run by the Visit Finland organization, takes place in the scenic lake district at the Kuru Resort next month. Visit Finland plans to cover all travel and accommodation expenses, including a private room and access to a traditional Finnish sauna and spa. Visit Finland's happiness masterclass has received a flood of interest, organizers say.

WASHINGTON — Urgent talks to raise the U.S. debt ceiling appeared to move closer to a deal Thursday, with only seven days to go before the United States faces an imminent threat of debt default. But negotiators warned that the final phase of talks would likely be the most delicate and difficult for both sides. "We're at a sensitive phase, with sensitive issues that remain. "They've got work in the White House, we have work here in the Capitol. Read more: What Republicans want in exchange for raising the debt limitAt the White House, President Joe Biden sounded a cautiously optimistic note.

Persons: Garret Graves, Patrick McHenry, we've, McHenry, They've, Read, Joe Biden Organizations: Republicans, Capitol Hill Club, WASHINGTON, Republican, White House, White Locations: R, Washington, United States, North Carolina

☆ Nvidia's big break has been a long time coming, Jim Cramer says
▼ + stars: | 2023-05-25 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

Wall Street may be shocked by Nvidia 's record-breaking move on Thursday, but not CNBC's Jim Cramer. Cramer said Huang has been ahead on the value of generative artificial intelligence since the jump, buying up a valuable kind of graphics card — the H100 processor — early on. "If you have enough Nvidia cards put together, you can enable all of this incredible artificial intelligence stuff that everybody's so excited about now. Cramer said Huang showed him the power of ChatGPT when he visited Nvidia headquarters months ago, well before it saw mainstream popularity. "And had the cards ready for all who wanted them when Wall Street finally came around to generative artificial intelligence.

Persons: Jim Cramer, Cramer, he's, Jensen Huang, Huang, Andy Reid, Reid, Paul Cezanne, " Cramer, Jensen, Wall, We're Organizations: Nvidia, Kansas City Chiefs, Oracle, Microsoft, Meta, Intel Locations: Washington

☆ Should you check emails on vacation or face a ‘tidal wave’ of messages later? These CEOs have some ideas
▼ + stars: | 2023-05-22 | by ( Monica Pitrelli | ) www.cnbc.com time to read: +6 min

Should you check email on vacation or face a tsunami of messages once you're back at the office? An 'email intervention'Robinson launched an "Email Intervention Campaign" earlier this month to deal with issues like "vacation email panic," he told CNBC Travel. "I encounter tons of people who are burned out from email," said work-life speaker and consultant Joe Robinson. Robinson advises companies to create defined email policies, ideally ones which give workers permission not to check email on vacation. Don't respond (if you don't have to) Emails proliferate like rabbits, said Joe Robinson.

☆ A Lego Crime, a YouTube Rivalry, and the End of a Star Wars Friendship
▼ + stars: | 2023-05-21 | by ( David Kushner | ) www.businessinsider.com time to read: +30 min

Those who are into Lego Star Wars are among the most popular. It was at an informal contest where Louis met Victor, a fellow Lego Star Wars fanatic. Soon they ranked among the most popular Lego Star Wars YouTubers in France, known for the size and scope of their MOCs. The two friends no longer fit with that satisfying click that comes from snapping together two Lego bricks. Though it must have taken a truck to haul away all of Louis' Lego, no neighbor reported seeing anything suspicious.

☆ Emotional Harrison Ford reflects on his years as Indiana Jones
▼ + stars: | 2023-05-19 | by ( ) www.reuters.com time to read: +2 min

CANNES, May 19 (Reuters) - Harrison Ford teared up on Friday as he recalled his years playing Indiana Jones, after the Cannes premiere of what he has said will be his last outing in the blockbuster film franchise. "I love to work and I love this character and I love what it brought into my life," he told journalists at the festival. The new film, "Indiana Jones and the Dial of Destiny", pits the adventurous archaeologist against a former Nazi scientist, played by Mads Mikkelsen, who is searching for a dial that makes it possible to travel through time. That's what I looked like 35 years ago because Lucasfilm has every frame of film that we made together over all these year," Ford said. Ford, who first played Indiana Jones in 1981, told Total Film magazine last month that he would hang up the character's iconic bull whip and hat for good after this film, which will be released to wider audiences in late June.

☆ US stocks climb as Wall Street hopes debt ceiling deal is in sight
▼ + stars: | 2023-05-19 | by ( Carla Mozée | ) www.businessinsider.com time to read: +2 min

US stocks advanced Friday as investors see the potential for a deal that raises the $31 trillion debt ceiling. Stocks were on course for a weekly win with the S&P 500 hitting a nine-month high. Gains on Friday would add to this week's advance that lifted the S&P 500 and the Nasdaq Composite to nine-month highs. Elsewhere in Washington, negotiators representing President Biden and House Speaker Kevin McCarthy were set to continue talks this weekend over lifting the $31 trillion debt ceiling that's needed to avoid a debt default. Bank of America warned on mega-cap tech stocks, saying a "big asset bubble" in growth shares is building.

☆ Debt ceiling optimism helps lift S&P 500, Nasdaq
▼ + stars: | 2023-05-18 | by ( Chuck Mikolajczak | ) www.reuters.com time to read: +4 min

The benchmark S&P 500 index (.SPX) rebounded from early declines on news that top U.S. congressional Republican Kevin McCarthy said a deal to raise or suspend the debt ceiling could potentially be reached in time to hold a House vote next week. On Wednesday, President Joe Biden and McCarthy reiterated their aim to strike a deal soon to raise the $31.4 trillion federal debt ceiling and agreed to talk as soon as Sunday. The debt ceiling has drawn attention away from uncertainty about the Federal Reserve's stance on interest rates. Declining issues outnumbered advancers on the NYSE by a 1.12-to-1 ratio; on Nasdaq, a 1.17-to-1 ratio favored decliners. The S&P 500 posted 23 new 52-week highs and seven new lows; the Nasdaq Composite recorded 77 new highs and 74 new lows.

Search resuls for: "Everybody's"

25 mentions found