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BOSTON (AP) — Getting the chance to host seven matches for the 2026 World Cup was more than expected and offers a much-needed shot in the arm to the city’s economy, Boston officials said Monday. Among the seven matches that will be played at Gillette Stadium in the Boston suburb of Foxborough will be five group stage matches, one match in the round of 32 and a quarterfinal match on July 9, 2026. I don't think FIFA could have done a better job.”Martha Sheridan, president & CEO of Meet Boston, said “nothing compares” to hosting World Cup matches. Foxborough hosted games at the 1994 World Cup, but Gillette Stadium is a different venue, built near the old Foxboro Stadium. Foxborough also hosted matches during the 1999 and 2003 Women’s World Cup.

Persons: —, Mike Loynd, “, ”, it's, ” Martha Sheridan, Foxborough, Sheridan, COVID, ” Sheridan, Brian Bilello, ” Bilello Organizations: BOSTON, FIFA, Mexico City’s Estadio Azteca, New York Jets, Giants, Gillette, Boston Soccer, Boston, Amtrak, New England, U.S Locations: Boston, Mexico, Foxborough, Philadelphia and New Jersey, New York City, Philadelphia, New Jersey, United States, Massachusetts, U.S, Canada, Atlanta, Inglewood , California, SoFi

☆ Investors would have made more money buying the S&P 500 instead of following 'Big Short' investor Michael Burry's tweet warnings, an expert says
▼ + stars: | 2023-09-12 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +3 min

Investors would have made more money buying the S&P 500 than following Michael Burry's stock-market warnings, said Charlie Bilello, chief market strategist at Creative Planning. "Simply buying the S&P 500 instead of following Michael Burry's stock market warnings would have made an investor money each time with an average 6-month annualized gain of 34%. He was referring to gains delivered by the benchmark index in the periods that immediately followed a selection of Burry's tweets between 2019 and 2023. AdvertisementAdvertisementThe S&P 500 share index has climbed more than 16% so far in 2023, thanks in no small part to investor excitement over the rise of artificial-intelligence technologies. He's warned of an economic downturn since the first half of 2022, leading him to place a bet with a notional value of $1.6 billion against the S&P 500 and Nasdaq-100 last quarter.

Persons: Michael Burry's, Charlie Bilello, Burry, Morgan Stanley's Mike Wilson, David Rosenberg, OpenAI's ChatGPT, Burry hasn't, He's Organizations: Creative Planning, Service, Asset Management, Federal Reserve, Nvidia, Apple, Microsoft, Nasdaq Locations: Wall, Silicon

☆ Americans now need to spend 43% of their income to afford a home as mortgage rates surge to a 23-year high
▼ + stars: | 2023-08-22 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +2 min

Americans need to spend nearly half of their income to afford a home as mortgage rates soar, a market expert said. "US housing affordability is worse today than the peak of the last housing bubble," Charlie Bilello said. The average rate on the 30-year fixed mortgage jumped this week to a 23-year high of 7.48%, per Mortgage News Daily. Mortgage rates have climbed in response to the Federal Reserve's steep interest-rate increases over the past six quarters to combat inflation. "US housing affordability is worse today than the peak of the last housing bubble.

Persons: Charlie Bilello Organizations: Mortgage, Service, Privacy, Mortgage News, Creative Planning Locations: Wall, Silicon

☆ Apple has plowed over $500 billion into stock buybacks since 2012 — more than Visa, JPMorgan, or Exxon are worth
▼ + stars: | 2023-08-11 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +2 min

Apple has spent over $500 billion on stock buybacks since 2012, a Markets Insider analysis shows. Warren Buffett has welcomed Apple's buybacks as they've boosted his ownership at no cost to him. It splurged $90 billion on buybacks in its last financial year, and has repurchased $56 billion worth of its shares in the last nine months alone. His Berkshire Hathaway empire owns nearly 6% of Apple, and the position accounts for almost half of its roughly $350 billion stock portfolio. "Much of what the company retained was used to repurchase Apple shares, an act we applaud," Buffett wrote in his 2021 letter to shareholders.

Persons: Apple, Warren Buffett, Apple's buybacks, Charlie Bilello, Bilello, Apple's repurchases, Buffett, Tim Cook, Apple's Organizations: Service, Visa, JPMorgan, Exxon Mobil, Apple, Citigroup, Berkshire Hathaway Locations: Wall, Silicon, buybacks, Berkshire

☆ The debt crisis Ray Dalio warned of may already be happening as US borrowings surge by $1 trillion in just weeks
▼ + stars: | 2023-07-12 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +2 min

Billionaire investor Ray Dalio's prediction of a US debt crisis may be coming true already. US national debt surged by $1 trillion in just one month since the borrowing ceiling was lifted by Congress. Dalio warned last month that the agreement made no difference and would only add to the nation's mounting debt pile. "Dealing with the problem of adding too much to a pile of debt that is already too large: Grade D," Dalio said. "In my opinion, we are at the beginning of a very classic late, big cycle debt crisis, when the supply-demand gap, when you are producing too much debt and have a shortage of buyers," Dalio said.

Persons: Ray, Dalio, Ray Dalio, Charlie Bilello, Warren Buffett Organizations: Congress, Service, Creative Planning, Republicans, Berkshire Hathaway, Bridgewater Locations: Wall, Silicon, Dalio

Wall Street and world markets cheered below-consensus U.S. inflation on Wednesday, but they may not be so accommodating if Chinese inflation on Thursday also undershoots forecasts. On the other hand, inflation in China is already extremely low and a sign that the world's second largest economy is struggling to generate demand, momentum and sufficient growth. Charlie Bilello, chief market analyst at Creative Planning, on Wednesday tweeted a list of 34 countries' annual consumer price inflation rates. China's 0.7%, the lowest since September 2021, was comfortably the weakest of them all, by almost two full percentage points. Producer price inflation figures will also be released on Thursday.

The 45,000-contract swing was the biggest since March 2020 and sixth largest since euro futures contracts were launched in the 1980s. chartSimilarly, funds reduced their net short sterling position by 13,000 contracts, the biggest move in six weeks. In rates, CFTC speculators cut their net short position in three-month "SOFR" futures by 33,000 contracts to 788,000 contracts, the smallest net short in seven weeks. They reduced their net short position in 10-year Treasuries futures by 123,000 contracts, the biggest short-covering move in almost five months. And in equities, they scaled back their net short position in S&P 500 futures by 61,500 contracts to 219,500, the smallest net short in two months.

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