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Why China's central bank has stopped bond purchases
  + stars: | 2025-01-10 | by ( Evelyn Cheng | ) www.cnbc.com   time to read: +5 min
BEIJING — The Chinese central bank halted its government bond purchases Friday in an attempt to slow a one-way bonds trade that's put unwanted downward pressure on the yuan, analysts said. China's 10-year bond yield plunged to a record low this month, while the Chinese currency traded in Hong Kong on Wednesday hit its weakest against the U.S. dollar in more than a year. Compared with the U.S. Treasury 10-year bond yield of 4.68%, the yield on the Chinese government 10-year bond is around 1.64%. Supporting the yuanChina has also recently ramped up efforts to support the yuan by issuing bills in the Hong Kong market. The PBOC will auction 60 billion yuan in six-month bills in Hong Kong on Jan. 15, the Hong Kong Monetary Authority said Thursday.
Persons: that's, Larry Hu, Hu, didn't, Pan Gongsheng, Peter Alexander, Lynn Song, Zong Ke, Zhiwei Zhang, Brian Tycangco, Zong Liang, Haizhong Chang, corporates, Fitch Bohua, Bao, Ying Shan Lee Organizations: People's Bank of China, U.S, People's Bank of, gov, Macquarie, PBOC, Ben Advisors, Wequant, Management, U.S . Treasury, Treasury, Stansberry, Hong Kong Monetary Authority, Bank of China, Fitch Locations: Beijing, BEIJING, Hong Kong, People's Bank of China, China, U.S, Shanghai, outflows
And as this popular saying goes, if you collect a coco one by one, eventually, you will be able to fill a basket. It's a good reminder that little by little, you can accomplish anything, because it all adds up. Even though Jamaica is a small island, many great people came from here, like Bob Marley and Usain Bolt. 'No mug no bruk, no coffee no dash weh'This proverb translates to, "The mug is not broken, so the coffee is not wasted." While the move to Jamaica has not been perfect, so many things could have been more difficult.
Persons: coco, Bob Marley, Usain Bolt, I'm, it's Locations: Jamaica
My mom had me when she was 32, and I'm an only child. I'm 32 now and don't have kids, but I have two cats that my mom calls grandcats. ADMy mom gave birth to her only child at 32, and my grandma had my mom, the last of her seven children, at 32. As an only child, I'm confronting pressure to bring a child into our increasingly thorny world. My parents are the main reason I feel guilty for not having my own child.
Persons: I'm, grandcats, I'd, It's, I've, , , who's, it's, Mackenzie Joy Brennan Locations: Arizona, MkzJoyBrennan.com
Last night, Atlanta hosted Salt Lake in the first-ever pro match for League One Volleyball, a new U.S.-based professional women's league. "It doesn't have to be a huge audience, it just has to grow a little bit week over week," Barry said. CNBC Sport highlight reel The best of CNBC Sport from the past week: Earlier this week, I interviewed Eli Manning about his business aspirations after football. Last night, Atlanta hosted Salt Lake in the first-ever pro match for League One Volleyball, a new U.S.-based professional women's league. "It doesn't have to be a huge audience, it just has to grow a little bit week over week," Barry said.
Persons: Alex Sherman, Tiger Woods, Rory McILory, Mike McCarley, Ludvig Aberg, Justin Thomas, Xander Schauffele, haven't, That's, Woods, McIlroy, TGL, Brittney, Breanna Stewart, Angel Reese, Cameron Brink, Caitlin Clark, Katlyn Gao, it's, Gao, Craig Barry, Max, Barry, Sports Jay, Eli Manning, he's, Jess Golden, Jess, James Franklin, LIV Golf, Norby Williamson, Diamond, Derek Chang, Greg Maffei, He's, Wyndham Clark, Mike Ehrmann Organizations: CNBC, TMRW Sports, League, women's, ESPN, WNBA, U.S, Olympic, League One's, NBA, TNT Sports, Warner Bros . Discovery, TNT, Channel, Amazon Prime, Sports, UFC, MLB, Canadian, Netflix, CNBC Sport, New York Giants, Puma, Sun, NHL, Miami Marlins, Notre, Penn, Football, PGA, FedEx, NFL, Bally Sports, Diamond Sports, Sports Network, Liberty Media, Formula, EverPass Media, RedBird, The, Golf Club, New York Golf, Center Locations: Palm Beach Gardens , Florida, Atlanta, Salt, U.S, LOVB, New York, Florida
China's consumer price inflation in December slipped to 0.1% year on year, data from the National Bureau of Statistics showed Thursday, stoking deflation concerns. On a month-on-month basis, China's CPI came in flat, compared with the 0.6% decline in the prior month. "Headline CPI will be negatively impacted by the weaker pork price in 2025," analysts at ANZ Bank wrote in a note. Wholesale prices continued to be fall for a 27th straight month, with China's producer price inflation down 2.3% year on year in December. The ongoing near-zero consumer inflation indicates that China continues to struggle with weak domestic demand that has raised the specter of deflation.
Persons: Louise Loo, Shaun Rein, it's, Rein, Carlos Casanova, Union Bancaire Privée Organizations: National Bureau, Statistics, CPI, ANZ Bank, Reuters, National Bureau of Statistics, Beijing, Oxford Economics, China Market Research, CNBC, Consumers, Union Locations: Qingzhou, Shandong Province, China, U.S
Here are 58 quality growth stocks to buy at the start of 2025. 58 quality growth stocks to buyLofty interest rates don't benefit most companies, but higher-quality firms with healthy balance sheets should hold up better than their debt-riddled counterparts. ADIn the note, Wilson and his colleagues highlighted a litany of quality stocks across three styles: cyclicals, defensives, and growth. With that in mind, here are the 58 high-quality stocks Morgan Stanley identified that fit into the growth basket. Interestingly, Bank of America noted that growth fund managers were underweight quality stocks heading into 2025.
Persons: Morgan Stanley, Savita Subramanian, Mike Wilson, Wilson, Morgan Stanley's Organizations: Investors, Bank of America, of America
RBC unveils its top stock picks for 2025
  + stars: | 2025-01-06 | by ( Lisa Kailai Han | ) www.cnbc.com   time to read: +3 min
RBC Capital Markets on Monday highlighted its top stock ideas for 2025, including an energy giant and a key financial company. Energy stock ConocoPhillips, which slumped nearly 15% last year, replaced Canadian Natural Resources in RBC's Top 30 list. Analyst Scott Hanold's $135 price target implies that the stock could surge nearly 34% from here. Erickson's $48 price target is approximately 55% above where shares of Pinterest closed on Friday. Other members of RBC's top stock ideas for 2025 include clean energy player First Solar and software platform Gitlab .
Persons: RBC's, Scott Hanold's, MSCI, Ashish, Pinterest, Brad Erickson Organizations: RBC Capital Markets, RBC, ConocoPhillips, MSCI, Energy, Natural Resources, RBC's, Intercontinental Locations: Pinterest
The dollar index last stood at 109.18 and was on track for a weekly gain of 1.1%, its strongest since November. The euro was meanwhile among the biggest losers against a towering dollar, having tumbled 0.86% in the previous session to a more than two-year low of $1.022475. Elsewhere, the yen rose 0.16% to 157.25 per dollar, but stood not too far from an over five-month low of 158.09 per dollar hit in December. Down Under, the Australian dollar edged 0.2% higher to $0.6216 but remained pinned near a more than two-year low, and was on track to decline 0.2% for the week. The New Zealand dollar rose 0.17% to $0.56065, but was likewise headed for a weekly loss of 0.66%.
Persons: ADEK BERRY, Charu Chanana, Donald, Trump, Trump's, Kyle Rodda Organizations: Getty, greenback, Saxo, U.S, European Central Bank, Bank of England, Bank, Down, New Zealand Locations: Jakarta, AFP, U.S, China, Japan
Evercore ISI is offering up an alternative way for investors to take a look at Tesla shares after the electric vehicle giant reported its first-ever drop in annual delivery numbers . The new target still implies 27% downside from Thursday's close. The firm views the stock as a call option on these future technologies, regarding Tesla as a "tale of two stocks" when dividing up its core auto business and technological advancements such as autonomous driving and robotics. And the stock has already fared well in recent months, hitting fresh highs in the wake of Trump's victory. "DJT presidency may lead to lower regulatory risk for AV/AI in general and thus quicker commercialization for the industry," McNally wrote, noting that the call option basket has risen to $900 billion and the market is pricing in a 50% chance of success.
Persons: Chris McNally, Tesla, Elon Musk's, Donald Trump, bode, DJT, McNally Organizations: ISI, White, Tesla
A view of the ball drop during Times Square New Year's Eve 2025 Celebration on December 31, 2024 in New York City. This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Nippon Steel offers U.S. veto powerThe fate of Nippon Steel's planned acquisition of U.S. Steel rests with U.S. President Joe Biden, who has until Jan. 7 to decide. [PRO] Top and bottom stocks of 2024The Magnificent Seven basket of stocks have powered the S&P 500 forward for most of 2024.
Persons: Bitcoin, Donald Trump, Joe Biden, Biden, Alibaba Alibaba, didn't Organizations: CNBC, CSI, Industry, Nippon Steel, U.S, Nippon, Reuters Locations: New York City, Asia, Pacific
The euro and British pound hit multi-month lows against the U.S. dollar on Thursday, as the fresh trading year kicked off and investors geared up for the return of Donald Trump to the White House this month. The euro was 0.33% lower against the greenback at $1.032 shortly before 1 p.m. in London, hitting its weakest level since November 2022. Optimism around the U.S. economy and equities was in focus as markets reopened following disrupted trade over Christmas and the New Year. Wall Street stock futures were higher amid declines in Europe and the Asia-Pacific as the U.S. dollar index — a comparison against a basket of currencies — ticked 0.25% higher. "Investors are hopeful that a goldilocks scenario will be the story of 2025, amid promises of lower taxes and deregulation under a second Trump presidency."
Persons: Donald Trump, Sterling, Susannah Streeter, Hargreaves Lansdown Organizations: U.S, Wall, Hargreaves, Trump Locations: London, U.S, Europe, Asia
Altice USA customers lost access to MSG Networks early Wednesday due to a carriage dispute between the cable TV operator and James Dolan's regional sports channels. Negotiations between Altice USA and MSG Networks broke down due to a dispute over fees — often the case in these discussions. Both Altice USA and MSG Networks each issued statements early Wednesday regarding the dispute. Altice USA noted MSG Networks' streaming options for customers that still want access to their teams. Like other regional sports networks, MSG Networks launched a streaming option in 2023 priced at $29.99 a month.
Persons: Jalen, James, , Altice Organizations: Jalen Brunson, New York Knicks, Indiana Pacers, MSG Networks, NBA's New York Knicks, New York Rangers, New York Islanders, New Jersey Devils, Knicks, Altice USA, Altice, Networks, Optimum, Sports, YES Network, New York Yankees, Gotham Sports Locations: Madison, New York City , New York, USA, Altice USA, New York
The S&P 500 is set to gain over 20% this year after rising 24% in 2023. Investors were bullish on strong earnings growth for tech companies, and stocks surged following President-elect Donald Trump’s reelection in November. The combination of the Fed beginning to cut rates and strong economic growth boded well for US equities. S&P 500 index: US tech companies had a standout year and drove the S&P 500 more than 20% higher. Gold also had a notable year, rising by more than 26% and on track to just outpace the S&P 500.
Persons: It’s, Santa Claus, , Donald Trump’s, Terry Sandven, Trump, , ” Jeffrey Buchbinder, Callie Cox, “ Everybody’s, ” Cox, Dow, Bitcoin, That’s, bitcoin, Paul Atkins, Gold Organizations: New, New York CNN, Bank of America, Wall, Bank Wealth Management, Federal Reserve, LPL, Nasdaq, Ritholtz Wealth Management, CNN, Fed, Apple, Meta, Microsoft, Nvidia, Tesla, Dow Jones, Big Tech, Dow Jones Indices, Dow, Treasury, US, Securities and Exchange Commission, SEC, Commodities Locations: New York, FactSet, Santa, Europe, Asia, Ghana, Ivory Coast
The myth of the millennial minimalists
  + stars: | 2024-12-29 | by ( Kelli María Korducki | ) www.businessinsider.com   time to read: +12 min
Our reputation quickly found a nifty shorthand: Millennials were a generation of minimalists. The minimalist-millennial myth began in the early 2010s in the aftermath of the Great Recession. Though it was largely an aesthetic trend, the myth of millennial minimalism was so central to my cohort's cultural identity that it may as well have been real. Even now, demand for cars is looked at as a bellwether for consumer spending and the US economy more broadly. Proving the point, young adults were back to buying cars by the mid-2010s.
Persons: we've, X, Millennials haven't, Peter, millennials, , Marie Kondo's, Kyle Chayka, Chayka, it's, Sam's, Lizabeth Cohen, didn't, Gen, minimalists, Gen Zers, Gen Xers, We'd, Freddie Mac, Bryan Rigg Organizations: Consumer, Nielsen, Automobile, Harvard, Federal Reserve, millennials, of Labor Statistics, National Association of Realtors, Consumer Expenditure Locations: Toronto, New York City, Brooklyn
Gift wrapping is just one example: Plenty of holiday-themed side hustles use skills that anyone can learn and get paid for. Gift wrapping and running a business are different, she adds: "It's not about whether you love it. The average gift wrapper in the U.S. earns up to $21 per hour, according to job search site Indeed. Hanging Christmas lightsSpencer Claeys' business, Northwest Pro Wash, usually cleans roofs and gutters in the greater Seattle area. Hanging lights, on the other hand, "is more like a luxury," he adds.
Persons: Michelle Hensley's, Kim Kardashian, Hensley, Collins, Taskrabbit, Spencer Claeys, Spencer, Claeys, He's, Kelsey Chickering, Forrester, Chickering, Santa Claus Eddy Rich, Santa Claus, Chris Rich —, , Eddy Rich's, Eddy Rich, Chris Rich Organizations: Brands, CNBC, U.S, Facebook, Northwest Pro Locations: New York, Northwest, Seattle, U.S, influencers
Here are 25 stocks that UBS analysts love most right now. A staggering 90% of investment firms see further gains for US stocks in 2025, based on Business Insider's round-up of S&P 500 price target predictions. 25 stocks in 2025No matter what 2025 holds, there will surely be ways for savvy investors to make money. One company rose 70% while another lost a third of its value, and the basket's average gain of 8.2% trails the market's 25% surge. Along with each is its ticker, market capitalization, UBS price target, upside to that target, sector, industry, and thesis.
Persons: Donald Trump, there's, Bernard Baruch Organizations: UBS, Federal Reserve, North Locations: North America, Swiss
Jobs in management consulting can be difficult to land, especially at prestigious firms. Jobs in management consulting can be notoriously difficult to land, especially for job seekers hoping to join a prestigious MBB firm — McKinsey, Bain, or BCG. According to Management Consulted, 80% of their premium clients get at least one job offer from a consulting firm. Advertisement"There are literally hundreds of consulting firms out there doing amazing work," he said. Preparing for case interviews can be the most time-consuming part of getting a job in consulting.
Persons: Antonia Wade Management, Namaan Mian, Mian, Don't, nobody's, it's, Niam, That's Organizations: Management, — McKinsey, Bain, KPMG, Deloitte, Excel Locations: PwC
My kids are teenagers now, but they believed in Elf on the Shelf for more than a decade. When they were preschoolers, I'd set up elaborate displays showing Jingle and Garland (each kid had their own elf, naturally) pulling all sorts of pranks. Now that my kids have outgrown Elf on the Shelf, I miss itThe author would set up the Elf on the Shelf while her kids were sleeping. "I forgot to move the elves," I'd sometimes groan, warm under the covers and ready for bed. Memorize the faces and the giggles and the joy that Elf on the Shelf brings because, believe it or not, you will miss it one day.
Persons: I'd, Jesus, Terri Peters, Bernard —, we'd, it's, they'd, Garland, I'm, Barbie Locations: Santa Claus
I felt like a failure when I became a mother, so I had to shift my perspective. I have always been a rule follower, and as a teenager, I rarely challenged my Indian immigrant parents' strict rules. Academic success became the cornerstone of my self-esteem as I entered college, and my priorities reflected this. I turned down invitations to socialize, travel, and explore in order to study, study, and then study some more. I struggled with breastfeeding, as many mothers do, and in my postpartum period, I filtered this experience through my default lens of success vs. failure.
Persons: I've, I'm
CNN —Buy now, Pay Later services had their best day yet on Cyber Monday, with consumers spending a record-breaking $991.2 million, according to Adobe Analytics. BNPL shoppers are more likely to be unable to pay some or any bills and to be concerned about making ends meet in the next year. While consumers perceive BNPL services to be a safer alternative to credit cards, experts warn that they carry risks. Young people are not only more likely to use BNPL services but are more likely to encounter issues when they do. While most traditional BNPL services require interest-free payments, some include interest or late fees that consumers may not be aware of.
Persons: Dionysius Ang, , ” Ang, BNPL, Ted Rossman, Lisa L, Gill, Baby Boomer, Z, Rossman Organizations: CNN, Adobe Analytics, Consumers, University of Leeds, Federal Reserve Bank of Philadelphia, Boomers, Consumer, Consumer Financial Locations: United States, England
CNN —Aakaanksh Autade was iffy on TikTok Shop, TikTok’s in-app shopping feature, when it launched last year. Aakaanksh Autade (left) promoted gadgets like the Nintendo Switch via TikTok Live on Cyber Monday. TikTok Shop raked in $100 million in single-day sales this Black Friday — that’s triple the number from 2023, according to the company. “It’s hard to ignore how much it means to its users.”What makes TikTok Shop tick? “TikTok shop just seemed like a natural place for those dollars to be spent.”What would a TikTok ban mean for other social media retail platforms?
Persons: Aakaanksh Autade, , ” Autade, , TikTok, hashtags, Keenya Kelly, “ You’ve, Carrie Berk, Keenya Kelly “, Autade, SOCi, Gen, Jen Jones, Commercetools, Jones, Ezra Acayan, ” Kelly, Kelly, ” Berk, she’s, it’s, “ I’m, I’m Organizations: CNN, Nintendo, Facebook, YouTube Locations: TikTok, Manila, Philippines
Tech investor Dan Niles is the least excited about the group of " Magnificent Seven " stocks than he has been in years, citing lofty valuations and slowing growth in the megacap tech leaders that is turning him instead to look at a broader-based basket of stocks. "We've had a Mag Seven stock in our top five picks which we put out for the last several years," Niles told CNBC's " Money Movers " on Friday. AI spending, it's going to slow down." The founder of Niles Investment Management expects the underperformance in the Magnificent Seven stocks in the second half of this year will continue in 2025, as the megacap leaders cede leadership to the broader market. Niles said Amazon is the one name he still likes in the Magnificent Seven, saying expanding profit margins will boost the business in the future.
Persons: Dan Niles, We've, Niles, CNBC's, Donald Trump Organizations: Niles Investment Management
Doha, Qatar CNN —Nine years ago, the UN established 17 Sustainable Development Goals (SDGs), which included ending poverty and hunger. The G20 Leaders’ Summit in November marked the launch of the Global Alliance Against Hunger and Poverty, an initiative aiming to eradicate hunger and poverty by 2030, aligning with the SDGs. CNN: Why was there a need to launch the Global Alliance Against Hunger and Poverty? We need more open debate and experience-sharing among countries like Colombia, Brazil, and Mali, alongside UN organizations like the World Food Programme. This means that countries joining together, by fighting food waste and engaging with the Global Alliance Against Hunger and Poverty, I think we can create a better world by 2030.
Persons: Wellington Dias Organizations: Qatar CNN —, UN, ’ Summit, Global, Doha Forum, Brazil’s, Social Development, CNN, Alliance, Assembly, Sustainable, World Bank, UNDP, FAO, UN Food and Agriculture Organization, Arab League Locations: Doha, Qatar, Rio de Janeiro, Washington, New York, Europe, Rome, South America, Brasilia, Africa, Addis Ababa, Asia, Bangkok, Colombia, Brazil, Mali
The "Dogs of the Dow" — a strategy popularized by investor Michael O'Higgins in the early 1990s — comprises of the 10 members of the Dow Jones Industrial Average with the highest dividend yields. By buying these names, investors bet on receiving a steady steam of cash payouts, in addition to their stock prices appreciating. These stocks also tend to be of higher quality given their inclusion in the 30-stock Dow. "The idea here is that just because they're 'Dogs of the Dow' — some of them really are dogs — and you have to be careful and selective as a stock picker," he told CNBC in an interview. Similarly, had Nvidia not replaced Intel in the blue-chip index last month, Intel would have also made 2025's "Dogs of the Dow" list, Simpson added.
Persons: Michael O'Higgins, Kevin Simpson, Simpson, Gamble, Dow —, Dow Jones, Sherwin, Williams, Goldman Sachs, , Jesse Pound Organizations: Dow Jones, Dow, Verizon Communications, Chevron, Business Machines, Cisco Systems, Wealth, CNBC, McDonald's, Procter, Gamble, Verizon, Walgreens Boots Alliance, Walgreens, Amazon, Dow Inc, Nvidia, Intel, IBM Locations: Amgen
The last major IPO of the year has priced on an up note , and IPO investors are hopeful it will mark the end of three painful years of sub-par IPO raises. IPOs in 2024: A few winners, but mostly forgettable For most investors, 2024 has been a great year. IPO investors, however, have less to cheer about. IPO YTD mountain Renaissance IPO ETF Of those that did go public in 2024, there were a small number of standouts. Winners included social media platform Reddit , AI and cloud infrastructure firm Astera Labs , cloud data management firm Rubrik , financial management software firm OneStream , and healthcare payments software firm Waystar .
Persons: Greg Martin, hasn't, Martin, Matt Kennedy, Del, Kennedy, Rainmaker's Martin Organizations: Nasdaq, Rainmaker Securities, CNBC, IPOs, Renaissance Capital, Tech, Astera Labs, UL, Ingram, SpaceX, Reddit, Epic Locations: landscapers, Del Monte
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