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☆ Asia markets mixed ahead of Bank of Japan decision, China PMI
▼ + stars: | 2023-10-31 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: 1 min

The Bank of Japan headquarters in Tokyo. Asia-Pacific markets were mixed ahead of a key monetary policy decision by the Bank of Japan, and fresh economic data points throughout the region. The Bank of Japan will conclude its two-day policy meeting later in the day, with investors watching for any signs of the central bank raising its inflation forecasts. It is also expected to discuss further adjustments to its bond yield control. Also on Tuesday, China purchasing manager's index data for October will likely show manufacturing grew at an expansionary pace of 50.2, according to economists polled by Reuters.

Organizations: Bank of Japan, Reuters Locations: Tokyo . Asia, Pacific, China

☆ Tesla shares drop 5% on Panasonic battery warning, down 18% since Q3 earnings report
▼ + stars: | 2023-10-30 | by ( Lora Kolodny | ) www.cnbc.com time to read: +3 min

Musk also repeatedly said, during that call, that Tesla was facing serious challenges with the start of production of its long-awaited Cybertruck. Shares have dropped about 18% since the company's earnings call Oct. 18. We believe that Tesla may have to guide to deliveries below consensus next year AND face lower margins." Bernstein, with its bearish view of Tesla, is forecasting 2.15 million deliveries from Tesla next year with earnings per share of $2.59 compared to the consensus view of 2.3 million deliveries and earnings per share of $3.30. Shares of ON Semiconductor , which supplies chips for EVs, were down 20% Monday after the company offered disappointing Q4 guidance.

Persons: Elon Musk, Porte, Tesla, Musk, It's, Bernstein's Toni Sacconaghi, Bernstein, Sacconaghi Organizations: SpaceX, Tesla, Viva Technology, Porte de, Panasonic, U.S, Cybertruck, ON Semiconductor, CNBC Locations: Paris, Japan, Ortex, London

People walk in front of the bank of Japan building in Tokyo, Japan, April 7, 2023. REUTERS/Androniki Christodoulou/ File photo Acquire Licensing RightsOct 31 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. Will the BOJ spook markets on Halloween and the final trading day of the month by effectively tightening monetary policy further with another tweak to its 'yield curve control' policy? Inflation in Japan has finally taken off, and for the first time in decades, appears to be sticking well above 2%. Here are key developments that could provide more direction to markets on Tuesday:- Bank of Japan policy decision- China PMIs (October)- Japan unemployment, industrial production, retail sales (September)By Jamie McGeever;Our Standards: The Thomson Reuters Trust Principles.

Persons: Androniki, Jamie McGeever, Will, Government Bonds, China PMIs Organizations: REUTERS, Bank of, U.S . Federal, Bank of England, Nikkei, Japan, Government, PMI, Bank of Japan, Thomson, Reuters Locations: Japan, Tokyo, Hong Kong, Taiwan, China

☆ Achieving the 'American dream?' A lot of it depends on where you grow up
▼ + stars: | 2023-10-27 | by ( Hakyung Kim | ) www.cnbc.com time to read: +7 min

We are thought to be the country of the American dream, [where] once you start from the bottom, you move to the top. Measures of mobilityThere are two measures of mobility: relative and absolute. "We have less [relative] mobility in this country than we do in other developed nations, especially in Europe and developing European countries. "We are thought to be the country of the American dream, [where] once you start from the bottom, you move to the top. The U.S. only ranks behind England for having the world's highest university tuition fees, according to data from the OECD.

Persons: Friedman, John Friedman, that's, It's, haven't, Kreg Steven Brown, Brown, Juan Palomino, there's, Susan Thompson Buffett Organizations: Opportunity, Brown University, Harvard University, . Census Bureau, World Bank, U.S, Washington Center for Equitable, Universidad Complutense de Madrid, England, OECD, Susan Thompson Buffett Foundation, Biden Locations: Dallas, Texas, U.S, Europe, Denmark, China, South Africa, Morocco, American, Germany, Canada, Japan, France, Scandinavian, Nebraska

☆ Kids are attending pro-Palestine protests on Roblox
▼ + stars: | 2023-10-26 | by ( Hayden Field | ) www.cnbc.com time to read: +2 min

Kids are attending pro-Palestine protests on Roblox in the wake of the Israel-Hamas war, and so far, a pro-Palestine virtual protest has been visited more than 275,000 times. Malaysia has been the site of pro-Palestine protests, and the country's prime minister, Anwar Ibrahim, recently criticized Israel's air strikes in the Gaza Strip. About 45% of Roblox users are 12 years old or younger, according to Roblox data from December 2022, and 60% of users were 16 or younger. Social media comments viewed by CNBC seemed to show parents saying that their daughters and sons had joined, or planned on joining, the experience on Roblox. A Roblox spokesperson confirmed to CNBC that the experience "did appear on our platform," adding that the protest showcased in viral videos was one of multiple pro-Palestine protests on Roblox that the company is aware of.

Persons: Anwar Ibrahim, Roblox Organizations: Palestine, Solidarity, Google Translate, CNBC, Palestinian, Israeli Defense Forces, West Bank Locations: Israel, Palestine, Malaysia, Gaza, Malaysian, Palestinian

☆ Kids are attending pro-Palestinian protests on Roblox
▼ + stars: | 2023-10-26 | by ( Hayden Field | ) www.cnbc.com time to read: +3 min

Kids are attending pro-Palestinian protests on Roblox in the wake of the Israel-Hamas war, and so far, a pro-Palestinian virtual protest has been visited more than 275,000 times. Malaysia has been the site of pro-Palestinian protests, and the country's prime minister, Anwar Ibrahim, recently criticized Israel's air strikes in the Gaza Strip. About 45% of Roblox users are 12 years old or younger, according to Roblox data from December 2022, and 60% of users were 16 or younger. A Roblox spokesperson confirmed to CNBC that the experience "did appear on our platform," adding that the protest showcased in viral videos was one of multiple pro-Palestinian protests on Roblox that the company is aware of. Clarification: Pro-Palestinian supporters have taken to Roblox to protest the Israel-Hamas war.

Persons: Anwar Ibrahim, Roblox Organizations: Solidarity, Google Translate, CNBC, Palestinian, Israeli Defense Forces, West Bank Locations: Israel, Palestine, Malaysia, Gaza, Malaysian, Palestinian, Roblox

European markets were tentatively lower Tuesday, with investors likely keeping an eye on the latest business activity data out of the euro zone. The pan-European Stoxx 600 index dipped 0.1% lower after a marginally upbeat open, with sectors spread across positive and negative territory. Mining stocks led gains with a 1% increase, while banking stocks dropped 0.9%. Barclays led the banking decline with a 6% fall following third-quarter results. Preliminary purchasing managers' index data for the euro zone for October is due Tuesday.

Organizations: Barclays

☆ Most of the world's biggest advertisers have stopped buying ads on Elon Musk's X, exclusive new data shows
▼ + stars: | 2023-10-23 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +4 min

An overwhelming majority of the world's biggest-spending advertisers have stopped advertising on X following Elon Musk's acquisition of the company, according to new data provided exclusively to Insider by the marketing consultancy Ebiquity. The number of Ebiquity clients advertising on X has steadily declined ever since, the data shows. The company drew its X data from its digital media solutions unit, through which it gathers digital media investment data from agencies and platforms. In the same interview she cited Visa, Nissan, and AT&T as among the "1,500" brands that had resumed spending on X. "We would welcome an official follow-up with supporting data in a time where trust and transparency are of critical importance," said Schreurs.

Persons: Ruben Schreurs, Ebiquity Ebiquity, Linda Yaccarino, Ebiquity's Schreurs, Schreurs Organizations: Elon, Twitter, Google, Walmart, Vodafone, General Motors, Ebiquity, Nissan, Amazon, Unilever, Coca, IBM, Bloomberg, Media, Visa

REUTERS/Issei Kato Acquire Licensing RightsOct 24 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. September's PMIs showed that manufacturing activity in Japan and Australia shrank and services sector activity grew, although growth in Japan was the slowest this year. The big picture, however, is still dominated by the ebb and flow of the U.S. Treasuries market. And while a broad easing of financial conditions on Monday - lower Treasury yields and a weaker dollar - should support emerging market assets, Wall Street's late downward drift will warrant caution. The MSCI Asia ex-Japan and MSCI global emerging market indexes are both down around 13% over the past three months and on Monday both hit their lowest level since Nov. 11 last year.

Persons: Issei Kato, Jamie McGeever, bode, Michele Bullock, September's PMIs, Wall, Goldman Sachs, outflows, Goldman, Josie Kao Organizations: REUTERS, Reserve Bank of Australia, Nasdaq, Bank of Japan, PMI, Thomson, Reuters Locations: Tokyo, Japan, U.S, Korean, Australia, Asia, China, South Korea

AI (Artificial Intelligence) letters are placed on computer motherboard in this illustration taken June 23, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsOct 19 - Artificial Intelligence startup Imbue said on Thursday it has secured an additional $12 million in follow-on funding to its Series B round, bringing its total raised to over $210 million in cash. In September, Imbue announced its Series B round of $200 million at a valuation of over $1 billion. Imbue is focused on creating a model for enabling so-called autonomous agents, AI systems which promise to perform more sophisticated personal and work tasks such as meeting scheduling or complex data analysis, without close supervision. The key to AI systems that can perform large-scale, real-world tasks is creating AI that has better reasoning capabilities, Imbue CEO Kanjun Qiu said in an interview.

Persons: Dado Ruvic, Eric Schmidt, Imbue, Kanjun Qiu, Qiu, Anna Tong, Richard Chang Organizations: REUTERS, Intelligence, Alexa Fund, Google, Microsoft, Thomson Locations: San Francisco

☆ Retailers are using a simple mind trick on you to make their discounts seem bigger than they are
▼ + stars: | 2023-10-13 | by ( Cork Gaines | ) www.businessinsider.com time to read: +4 min

This has retailers using an old trick to hide the true value of discounts from consumers, Walmart's ex-CEO says. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . This means prices are still rising faster than the Fed's goal of getting inflation back down to 2.0%. The same logic applies here as a percentage discount doesn't mean you're getting a good deal if the original price was already greatly inflated.

Persons: Walmart's, —, it's, Bill Simon, Simon, they'll Organizations: Service, CNBC, Walmart, Hanes, Darden, Brands, Costco

Insider spoke with startup founders and VCs who are managing companies while aiding the war effort. Startup founders and employees have traveled back to Israel from their homes abroad to take up arms and defend their country. The call to serveIn Israel, military service is mandatory for all citizens over 18. These startup founders and employees are using the skills they use every day like problem solving, multitasking and leading during the war effort. "I'm lucky to be a cofounder not a sole founder, so I'm relying on my cofounder," Kandel explained.

Persons: Israel, VCs, —, Oren Kandel, I'm, We're, Munch, Kandel, Isaac Gili, Jon Medved, David, Noy, Danielle Eisenberg, Leyb, Eisenberg, I've, Medved, Oren Kandel Kandel, that's, Ben Yellin, Ofer Sharon, Itamar Friedman, " Eisenberg, Tasmin Lockwood Organizations: Palestinian, Hamas, Service, Wednesday, Israeli Defense Forces, Startup, Israel Relief, Microsoft, Israel, Tel, Lightspeed Venture Partners, GGV, Insight Partners Locations: Gaza, Israel, Gedera, New York, cyberintelligence, Tel Aviv, Binyamina

☆ Series I bond rates could rise above 5% in November, experts say
▼ + stars: | 2023-10-13 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

The annual rate for newly purchased Series I bonds could rise above 5% in November based on inflation and other factors, financial experts say. (The fixed portion of the I bond rate remains the same for investors after purchase. The variable rate portion resets every six months starting on the investor's I bond purchase date, not when the Treasury Department announces rate adjustments. Based on six months of consumer price index data, experts say the variable component is likely to rise to 3.94% in November, up from the current variable rate of 3.38%. That variable rate will change again in May 2024.

Persons: doesn't Organizations: U.S ., Finance, U.S . Department of, Treasury, Treasury Department

The latest Freddie Mac data, which reflects average rates from last Thursday through Wednesday, showed that 30-year mortgage rates reached a new 23-year high of 7.57%. See more mortgage rates on Zillow Real Estate on ZillowMortgage Refinance Rates TodayMortgage type Average rate today This information has been provided by Zillow. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's interest rates will affect your monthly payments. 15-Year Fixed Mortgage RatesAverage 15-year mortgage rates were 6.89% last week, according to Freddie Mac data. Mortgage rates increased dramatically in 2022 and have been volatile so far in 2023, but they're expected to trend down later this year.

Persons: Freddie Mac, you'll Organizations: of Labor Statistics, Reserve, Hamas, Zillow, Federal Reserve Locations: Chevron

☆ Gold climbs as markets await U.S. CPI data to gauge Fed's stance
▼ + stars: | 2023-10-12 | by ( ) www.cnbc.com time to read: +2 min

Spot gold rose 0.3% to $1,879.25 per ounce by 0541 GMT, its highest level since Sept. 27. The dollar index and U.S. Treasury yields were rooted near two-week lows, making non-interest-paying gold more attractive. "But one thing for sure is that people would be expecting interest rates will still continue to remain high ... so precious metals price will remain (broadly) subdued." High interest rates raise the opportunity cost of holding non-yielding bullion, which is still down over 9% from near record highs hit in May. Elsewhere, spot silver firmed 0.4% to $22.15 per ounce, platinum advanced 0.8% to $891.84 and palladium gained 0.7% to $1,175.29.

Persons: Brian Lan Organizations: Treasury, GoldSilver, Investors, Wednesday Locations: U.S, Singapore, abate

☆ Dollar hovers near two-week lows ahead of inflation data
▼ + stars: | 2023-10-12 | by ( ) www.reuters.com time to read: +3 min

The employee of a currency exchange shop counts U.S. dollar banknotes in Ciudad Juarez, Mexico July 27, 2023. The report comes ahead of the release on Thursday of September's consumer price index data, which is expected to show inflation moderated last month. "On the flip side, an upside surprise will likely encourage markets to reprice higher the chance the Federal Open Market Committee will follow through on its projected 25 basis point hike." Futures markets are pricing in a 26% chance of a 25 basis point hike in the December meeting and a 9% chance of a 25 basis point hike in November meeting, according to the CME FedWatch tool. The Japanese yen strengthened 0.03% to 149.11 per dollar, while sterling was last trading at $1.2311, flat on the day.

Persons: Jose Luis Gonzalez, Ryan Brandham, Carol Kong, Ankur Banerjee, Sam Holmes Organizations: REUTERS, Rights, Federal Reserve, Validus Risk Management, Fed, Commonwealth Bank of Australia, European Central Bank, Thomson Locations: Ciudad Juarez, Mexico, Rights SINGAPORE, U.S, North America, Tokyo, Singapore

☆ Gasoline, food drive US producer prices higher; core inflation cools
▼ + stars: | 2023-10-11 | by ( Lucia Mutikani | ) www.reuters.com time to read: +6 min

The so-called core PPI increased 2.8% on a year-on-year basis in September after climbing 2.9% in August. Wholesale goods prices increased 0.9%, with a 3.3% rise in the cost of energy products accounting for nearly three-quarters of the increase. Excluding the volatile food and energy components, core goods prices edged up 0.1% for the second straight month. This mostly reflected the normalization of supply chains, whose disruption fueled goods inflation in the aftermath of the COVID-19 pandemic. Though core inflation is cooling, higher gasoline and food prices could hamper progress by raising the cost of other goods as well as causing consumers to expect inflation to rise.

Persons: Sarah Silbiger, Christopher Rupkey, Will Compernolle, Alex McGrath, Lucia Mutikani, Chizu Nomiyama, Paul Simao Organizations: El Progreso Market, Washington , D.C, REUTERS, Labor Department, Federal Reserve, Treasury, Reuters, PPI, Reuters Graphics, Trade, Fed, Thomson Locations: Mount Pleasant, Washington ,, WASHINGTON, New York, East, Greenville , South Carolina

☆ Chipotle is raising prices again
▼ + stars: | 2023-10-11 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +2 min

Chipotle has been raising its prices over the past few years, citing higher costs. In June of 2021, Chipotle said it was raising prices about 3.5% to 4%. So far at Chipotle, the increased prices haven’t scared people off — clearing the way for more expensive burritos. Even companies that have seen customers pull back due to the higher prices reported higher sales, because those higher prices offset volume declines. The snack and beverage company said it increased prices globally by 11% on average, helping nudge revenue higher than analysts’ expectations.

Persons: Chipotle’s, ” Laurie Schalow, Chipotle, “ We’re, ”, Brian Niccol, “ We’ve, ” Niccol, — CNN’s Jordan Valinsky Organizations: New, New York CNN, CNN, PepsiCo, Bureau of Labor Statistics Locations: New York, Chipotle

☆ Gold rally loses steam as yields edge up, stocks rebound
▼ + stars: | 2023-10-10 | by ( Harshit Verma | ) www.reuters.com time to read: +2 min

(Reuters) - Gold prices edged down on Tuesday after clocking a sharp rise in the last session as risk sentiment improved and bond yields rebounded, while investors awaited the U.S. inflation data due later this week. Gold rose about 1.6% on Monday, its biggest one-day jump in five months, as military clashes between Israel and Palestinian Islamist group Hamas boosted demand for safe-haven investments. European stocks rebounded sharply on Tuesday as dovish comments from Fed policymakers and easing oil prices helped calm investor nerves. Benchmark 10-year Treasury yields rose to 4.7049%, decreasing the appeal for non-yielding bullion. Spot silver fell 0.8% to $21.72 per ounce, platinum slipped 0.3% to $883.97 and palladium dropped 0.8% to $1,130.52.

Persons: Alexander Manzyuk, ”, Craig Erlam, Erlam, Philip Jefferson, Lorie Logan, Kyle Rodda Organizations: Reuters, REUTERS, OANDA, U.S, Consumer, Dallas Fed Locations: Novosibirsk, Siberian, Russia, Israel, Palestinian, U.S . Federal, EU, U.S

See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates would impact your monthly payments. Mortgage Rates for Buying a Home30-Year Fixed Mortgage Rates Increase (+0.17%)The current average 30-year fixed mortgage rate is 7.49%, up 17 basis points since this time last week. 20-Year Fixed Mortgage Rates Go Up (+0.37%)The average 20-year fixed mortgage rate is up 37 basis points from last week and sits at 7.21%. 15-Year Fixed Mortgage Rates Tick Up a Bit (+0.11%)The average 15-year mortgage rate is 6.64%, an 11-basis-point increase from last week. Mortgage rates have been volatile so far in 2023, and they're higher than they were in September 2022.

Persons: you'll, It's, refinance Organizations: Federal Reserve, Zillow, FHA Locations: Chevron

Mortgage rates have skyrocketed this week, with 30-year mortgage rates now well above 7% for many borrowers. See more mortgage rates on Zillow Real Estate on ZillowMortgage Refinance Rates TodayMortgage type Average rate today This information has been provided by Zillow. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. 15-Year Fixed Mortgage RatesAverage 15-year mortgage rates were 6.72% this week, according to Freddie Mac data. Mortgage rates started ticking up from historic lows in the second half of 2021 and increased significantly in 2022.

Persons: homebuyers, Freddie Mac, it's Organizations: Zillow Locations: Chevron

☆ Oil falls over $1 on demand fears, Saudi confirms cuts to year-end
▼ + stars: | 2023-10-04 | by ( Robert Harvey | ) www.reuters.com time to read: +2 min

Oil pump jacks are seen at the Vaca Muerta shale oil and gas deposit in the Patagonian province of Neuquen, Argentina, January 21, 2019. REUTERS/Agustin Marcarian/File Photo Acquire Licensing RightsLONDON, Oct 4 (Reuters) - Oil fell on Wednesday, as pledges by Saudi Arabia and Russia to continue crude output cuts to the end of 2023 were offset by demand fears stemming from macroeconomic headwinds. Brent crude oil futures were down $1.51, or 1.66%, to $89.41 a barrel at 1206 GMT, while U.S. West Texas Intermediate crude (WTI) fell $1.59, or 1.78%, to $87.64 per barrel. Saudi Arabia's energy ministry confirmed on Wednesday it will continue its voluntary 1 million barrel per day (bpd) crude supply cut until the end of this year. As the trade currency of oil, a strong dollar makes oil comparatively expensive for holders of other currencies, which can dampen demand.

Persons: Agustin Marcarian, Brent, Callum Macpherson, John Evans, Robert Harvey, Laura Sanicola, Muyu Xu, Mark Potter, Louise Heavens Organizations: REUTERS, U.S, West Texas, Wednesday, Saudi, Kommersant, Thomson Locations: Vaca, Patagonian, Neuquen, Argentina, Saudi Arabia, Russia, OPEC

A sign is pictured in front of the Vitol Group trading commodities building in Geneva October 4, 2011. The two Pemex documents are also not public. As part of the settlement, Vitol also dropped a lawsuit against PMI Comercio Internacional, Pemex's international trading arm, for $1.21 million for alleged damages to a refinery in Cressier, Switzerland. Meanwhile, legal proceedings tied to the graft scandal continue in Mexico but also the U.S., where a former employee is on trial, and Ecuador. The graft scandal Vitol acknowledged dates back to Lopez Obrador's predecessors.

Persons: Denis Balibouse, Pemex, Andres Manuel Lopez Obrador, Vitol, Lopez, Adriana Barrera, Stefanie Eschenbacher, Ana Isabel Martinez, Stephen Eisenhammer, Marguerita Choy Organizations: Vitol, REUTERS, MEXICO CITY, Reuters, U.S . Department of Justice, PMI Comercio Internacional, Mexican, Thomson Locations: Geneva, MEXICO, Swiss, Brazil, Ecuador, Vitol, Mexican, U.S, Cressier, Switzerland, Veracruz, Mexico

Oct 2 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. But Chinese purchasing managers index data over the weekend, which pointed to mixed levels of services and manufacturing activity last month, may put a dampener on that. Investors will be looking to start the fourth quarter on a positive note after a pretty awful third quarter. Monday's batch of PMI reports include the latest snapshots from Australia, Japan and Indonesia, while Japan's closely watched 'tankan' survey of business sentiment and activity will also be released. Meanwhile, the Reserve Bank of Australia, Reserve Bank of New Zealand and Reserve Bank of India are all expected to keep their key interest rates on hold at 4.10%, 5.5% and 6.5%, respectively.

Persons: Jamie McGeever, Japan's, Richard Chang Organizations: U.S . Congress, PMI, Golden, Monetary, Reserve Bank of Australia, Reserve Bank of New, Reserve Bank of, Bank of Japan, Thomson, Reuters Locations: Beijing, Australia, Japan, Indonesia, India, New Zealand, South Korea, Philippines, Thailand, Taiwan, Reserve Bank of New Zealand, Reserve Bank of India

☆ Cost of living in 9 Georgia cities, ranked from cheapest to most expensive
▼ + stars: | 2023-09-27 | by ( Madison Hoff | ) www.businessinsider.com time to read: +2 min

Atlanta had the highest Cost of Living Index score among nine Georgia cities, a research group found. However, all nine of those areas fall below the national average on the Cost of Living Index. The Cost of Living Index is based on several categories, including healthcare and grocery items. Prices of different services and expenses are also included, based on C2ER data that was shared with Insider. Insider also looked at cities in California, Colorado, Florida, and Texas using the Cost of Living Index data.

Persons: —, C2ER Organizations: Atlanta, Service, for Community, Economic Research Locations: Georgia, America's, Atlanta, C2ER . Georgia, Savannah, Columbus, California , Colorado , Florida, Texas

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