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☆ Soaring U.S. stocks make China’s market look worse than it is. Names to watch
▼ + stars: | 2024-07-07 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

Mainland China investors these days are often focused on how well U.S. stocks are doing — and bemoaning tepid performance at home. But a look at first-half performance shows that many China stocks still rose by double-digits, including a few artificial intelligence plays. Zhongji Innolight Ranking third in CSI 300 performance in the first half was Zhongji Innolight, which climbed 70%. Nomura rates Zhongji Innolight a buy and its analysts met with the optical communication company in late June. The broad mainland China stock market, measured in Class A shares, has underperformed over the past two years, said Wanda Wang, a research manager at Morningstar.

Persons: BofA, Nomura, Wanda Wang, That's, Invesco's, — CNBC's Michael Bloom Organizations: Nvidia, CSI, Apple, Foxconn, Bank of America Securities, Industrial, FII, Avary Holding, Avary, Chartered Bank, HSBC, JPMorgan, Nomura, Nasdaq, U.S, Morningstar, Capital, Shenzhen Stock Exchange Locations: China, Shanghai, Shenzhen, Avary Holding Shenzhen, Hong Kong

☆ Soaring debt and deficits causing worry about threats to the economy and markets
▼ + stars: | 2024-05-19 | by ( Jeff Cox | ) www.cnbc.com time to read: +5 min

The federal IOU is now at $34.5 trillion, or about $11 trillion higher than where it stood in March 2020. Concern over such eye-popping numbers had been largely confined to partisan rancor on Capitol Hill as well as from watchdogs like the Committee for a Responsible Federal Budget. Uncharted territory for debt and deficitsIndeed, the CBO numbers are ominous, as they outline the likely path of debt and deficits. Surging budget deficits have been driving the debt, and the CBO only expects that to get worse. "The huge obvious problem is that the U.S. federal debt is now on a completely unsustainable long-term trajectory," analysts at Wolfe Research said in a recent note.

Persons: Greenlee Beal, Jerome Powell, Powell, Jamie Dimon, Ray Dalio, hasn't, Wolfe Organizations: U.S, Capitol, Wall, CBO, Union, JPMorgan Chase, Sky News, Bridgewater Associates, Financial Times, Treasury Department, Wolfe Research, U.S ., Federal Reserve Locations: Washington , U.S, Washington, Amsterdam, London, America, U.S

☆ Wharton finance professor sounds the alarm on soaring U.S. debt
▼ + stars: | 2024-03-14 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWharton finance professor sounds the alarm on soaring U.S. debtJoao Gomes, Wharton Professor, joins 'Fast Money' to discuss the growing federal debt and why it could spell disaster for the markets and economy in the future.

Persons: Joao Gomes, Wharton Organizations: Wharton

☆ Ray Dalio says U.S. reaching an inflection point where the debt problem quickly gets even worse
▼ + stars: | 2023-11-17 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Soaring U.S. government debt is reaching a point where it will begin creating larger problems, Bridgewater Associates founder Ray Dalio said Friday. The hedge fund titan warned during a CNBC appearance that the need to borrow more and more to cover deficits will exacerbate the political and social problems the country is facing. "Economically strong means financially strong," Dalio said on "Squawk Box." Data through January indicates that foreign holdings of U.S. government debt total $7.4 trillion, down $253 billion, or 3.3% over the past year. "We are at the point of that acceleration, which creates the supply-demand problem.

Persons: Ray Dalio, Dalio, It's Organizations: Soaring, Bridgewater Associates, CNBC, Treasury Department, Federal Reserve, U.S, CNBC PRO Locations: U.S, China

☆ Biden administration aims to free up more wireless spectrum
▼ + stars: | 2023-11-13 | by ( ) www.cnbc.com time to read: 1 min

US President Joe Biden speaks during an event in the East Room of the White House in Washington, DC, US, on Monday, June 26, 2023. The White House said Monday it is issuing a new strategy and presidential memorandum that aims to free up additional wireless spectrum for advanced technology needs and soaring U.S. wireless demand. The Biden administration said it was releasing a National Spectrum Strategy and a presidential memorandum to modernize U.S. spectrum policy that "includes new actions to improve spectrum management and spectrum access—including a study of more than 2,700 megahertz of spectrum for potential repurposing." The White House says additional spectrum is key to next-generation wireless service and a variety of advanced technology, infrastructure and government needs.

Persons: Joe Biden, Biden Organizations: White Locations: Washington , DC, U.S

☆ US government aims to free up more wireless spectrum
▼ + stars: | 2023-11-13 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

REUTERS/Jonathan Ernst/File Photo Acquire Licensing RightsWASHINGTON, Nov 13 (Reuters) - President Joe Biden's administration on Monday announced steps aimed at freeing up additional wireless spectrum for advanced technology needs and soaring U.S. wireless demand including by repurposing spectrum currently set aside for parts of the federal government. The White House said it was releasing a National Spectrum Strategy and a presidential memorandum to modernize U.S. spectrum policy that "includes new actions to improve spectrum management and spectrum access - including a study of more than 2,700 megahertz of spectrum for potential repurposing." The White House has said additional spectrum is key to next-generation wireless service and a variety of advanced technology, infrastructure and government needs. Key issues include working to free up government-owned spectrum that agencies no longer need to use, establishing processes for resolving spectrum-related conflicts and developing dynamic spectrum-sharing capability, the White House said. Biden's administration plans within 12 to 18 months to "advance research, create investment incentives and set forth measurable goals to advance spectrum access technology" including establishing spectrum test beds, the White House said.

Persons: Jonathan Ernst, Joe Biden's, David Shepardson, Will Dunham Organizations: United States Capitol, REUTERS, Rights, Mobile U.S, White, Commerce Department's National Telecommunications and Information Administration, Federal Communications Commission, U.S ., FCC, Thomson Locations: Washington , U.S, U.S

☆ US reduces beef exports as cattle herd shrinks, squeezing Tyson Foods
▼ + stars: | 2023-11-10 | by ( Tom Polansek | ) www.reuters.com time to read: +5 min

The decline in cattle numbers, after years of drought fried pasture lands used for grazing, led to soaring U.S. beef prices. Higher prices incentivize companies to import cheaper beef and discourage U.S. beef purchases by buyers like China, Japan and Egypt. For Tyson, the loss of U.S. export business compounds margin pressure from higher cattle prices, Goldman Sachs analysts said. U.S. beef exports typically command higher margins than domestic shipments, they said. The USDA on Thursday raised its forecasts for beef imports in 2023 and 2024 in a monthly report.

Persons: Amira Karaoud, world's, Tyson, Cargill, Pete Bonds, Bonds, Goldman Sachs, Donnie King, Katelyn McCullock, McCullock, Derrell, Tom Polansek, Rod Nickel Organizations: Corydon , Indiana U.S, REUTERS, Rights, Tyson, U.S . Department of Agriculture, USDA, U.S ., U.S, Marketing, Center, Oklahoma State University, Thomson Locations: Corydon , Indiana, United States, China, Japan, Egypt, Texas, U.S, Tyson's, Florida, South Carolina, Australia, New Zealand, Paraguay, Paraguayan, Mexico

☆ Soaring Treasury yields threaten long-term performance of US stocks
▼ + stars: | 2023-10-26 | by ( Lewis Krauskopf | ) www.reuters.com time to read: +5 min

This year’s climb in Treasury yields is changing that calculus, as government bonds offer income that is viewed as risk-free to investors who hold them to term. The 10-year Treasury yield has climbed about a full percentage point since then. The term premium is the added compensation investors expect for owning longer-term debt and is measured using financial models. Stocks have averaged a forward price-to-earnings ratio of 17.8 over the last 10 years, while the term premium has averaged -0.3%. That compares with a historical average forward P/E of 15.6 and a term premium of 1.4% since 1985.

Persons: Brendan McDermid, ”, Quincy Krosby, Elon Musk, John Lynch, Lynch, LSEG, Matthew Miskin, Keith Lerner, ” Lerner, Lewis Krauskopf, Dan Burns, Ira Iosebashvili, Marguerita Choy Organizations: New York Stock Exchange, REUTERS, Soaring U.S, Treasury, U.S . Federal Reserve, . Treasury, BofA Global Research, LPL, Comerica Wealth Management, Reuters Graphics, John Hancock Investment Management, UBS Global Wealth Management, Advisory, Thomson Locations: New York City, U.S

☆ US weekly jobless claims hit nine-month low
▼ + stars: | 2023-10-19 | by ( Lucia Mutikani | ) www.reuters.com time to read: +6 min

Though the labor market is gradually cooling, conditions remain tight, with claims at the very low end of their range of 194,000 to 265,000 for this year. The Fed's Beige Book report on Wednesday said "labor market tightness continued to ease across the nation" in early October and implied cooling wage pressure. The labor market is driving consumer spending and the overall economy, ultimately keeping inflation elevated. The claims report covered the week during which the government surveyed business establishments for the nonfarm payrolls component of October's employment report. The so-called continuing claims increased 29,000 to a still-low 1.734 million during the week ending Oct. 7, the claims report showed.

Persons: Andrew Kelly, Christopher Rupkey, Unadjusted, Jerome Powell's, Jay Hawkins, Lucia Mutikani, Chizu Nomiyama, Jonathan Oatis Organizations: REUTERS, Labor Department, Federal Reserve, Financial, Treasury, Reuters, United Auto Workers, UAW, Ford, General Motors, Chrysler, U.S, Economic, of New, National Association of Realtors, realtors, BMO Capital Markets, Philadelphia Fed, Thomson Locations: Manhattan , New York City, U.S, WASHINGTON, New York, Texas , New York , New Jersey, Georgia, California, Tennessee, Michigan, of New York, Toronto, Pennsylvania, New Jersey, Delaware

☆ US job growth sizzles; wage inflation cooling
▼ + stars: | 2023-10-06 | by ( Lucia Mutikani | ) www.reuters.com time to read: +6 min

The report followed news this week that job openings jumped in August and first-time applications for unemployment benefits remained low in September. "Moreover, it underscores that they will be in no hurry to cut rates - higher rates for longer." The economy needs to create roughly 100,000 per month to keep up with growth in the working-age population. Monthly wage growth also remained moderate, with average hourly earnings rising 0.2% after a similar gain in August. But as fewer people quit their jobs in search of greener pastures, wage growth could moderate, though recent hefty union contracts pose a risk.

Persons: Elizabeth Frantz, Kathy Bostjancic, Lucia Mutikani, Andrea Ricci, Chizu Organizations: REUTERS, Federal Reserve, Labor Department, Financial, Treasury, Nationwide, Reuters, United Auto Workers, UAW, General Motors, Ford Motor, Chrysler, Manufacturing, Labor, Thomson Locations: Arlington , Virginia, U.S, WASHINGTON, payrolls, Washington .

☆ Yen under pressure as U.S. Treasury yields push over-decade peaks
▼ + stars: | 2023-09-22 | by ( ) www.cnbc.com time to read: +3 min

A bundle of Japanese 10,000 yen banknotes on a tray arranged at a branch of Resona Bank Ltd. in Tokyo, Japan. The yen was held at the mercy of soaring U.S. Treasury yields on Friday ahead of a closely watched rate decision by the Bank of Japan, or BOJ, while the dollar stood near a six-month peak on the prospect of higher-for-longer U.S. rates. The Japanese currency was last marginally lower at 147.6 in early Asia trade, languishing near the previous session's more than 10-month low of 148.465. The yen was also kept under pressure as a result of elevated U.S. Treasury yields, which scaled multi-year highs in the previous session as markets reeled from a hawkish pause by the Federal Reserve on Wednesday. The U.S. dollar likewise rode Treasury yields higher and against a basket of currencies, the greenback touched a more than six-month high of 105.74 in the previous session.

Persons: Daniel Hurley, Rowe Price, Ray Sharma, Ong, Sterling, BoE, Daniela Hathorn Organizations: Resona Bank, Treasury, Bank of Japan, Federal Reserve, U.S, New Zealand, Fed, Bank of England Locations: Tokyo, Japan, Asia

New Governor of Bank of Japan Kazuo Ueda meets Japanese Prime Minister Fumio Kishida at prime minister?s official residence in Tokyo, Japan, April 10, 2023. The discussions took place in the wake of the dollar's recent ascent above 145 yen, a level that in September 2022 triggered Japan's first yen-buying operation since 1998. "There wasn't anything in particular discussed today," Ueda told reporters after the meeting, when asked whether the two held talks on recent exchange-rate volatility. Ueda also said he explained to Kishida the Bank of Japan's decision last month to loosen its grip on long-term interest rates. It was the second such meeting since Ueda assumed the top BOJ post in April.

Persons: Bank of Japan Kazuo Ueda, Fumio Kishida, Kimimasa, Ueda Yen, Kazuo Ueda, Japan's, Ueda, Haruhiko, Shunichi Suzuki, Tetsushi Kajimoto, Satoshi Sugiyama, Chang, Ran Kim, Edmund Klamann Organizations: Bank of Japan, REUTERS Acquire, Ueda, Bank of, Soaring U.S, Treasury, Thomson Locations: Tokyo, Japan, TOKYO

REUTERS/Kim Kyung-Hoon/file photo Acquire Licensing RightsAug 18 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. At the very least, investors are nervous and scrambling to adjust to the higher yield environment. But given the tightening of financial conditions around the world, investors remain wary. The 10-year U.S. Treasury yield is above 4.30%, a whisker from highs not recorded since 2007 and the 10-year real yield at almost 2.0% is already at levels last seen in 2009. This is taking its toll - financial conditions across emerging markets are the tightest since early December, according to Goldman Sachs's EM financial conditions index, and risk assets are getting pounded.

Persons: Kim Kyung, Jamie McGeever, Bonds, Japan's, Goldman Sachs's, Josie Kao Organizations: REUTERS, U.S, Treasury, Bank of, People's Bank of China, Thomson, Reuters Locations: Ameyoko, Tokyo, Japan, Bank of Japan, China, Asia, Malaysia

☆ Novo Nordisk extends U.S. supply curbs on weight-loss drug Wegovy
▼ + stars: | 2023-08-10 | by ( Nikolaj Skydsgaard | ) www.reuters.com time to read: +3 min

The news came as the Danish drugmaker raised its full-year profit and sales forecasts for a second time. Wegovy is a weekly injection that can help patients to shed 15% of their weight alongside diet and exercise changes. Reuters has reported that larger doses are also in short supply, which Novo has denied. Many analysts had expected Novo to raise earnings guidance, given the huge U.S. demand for the weekly injection. The company also warned that it expected "continued periodic" supply constraints and drug shortages across a number of products and geographies.

Persons: Jacob Gronholt, Pedersen, Ozempic, Lars Fruergaard Jorgensen, Novo, " Jorgensen, Henrik Hallengreen Laustsen, Laustsen, Nikolaj Skydsgaard, Josephine Mason, Mark Potter Organizations: Novo Nordisk, REUTERS, Reuters, World Health Organization, Jyske Bank, Thomson Locations: Novo, Copenhagen, Denmark, U.S, COPENHAGEN, Danish

☆ Strong U.S. demand eases pressure on Novo to show weight-loss drug's health benefits
▼ + stars: | 2023-07-14 | by ( Maggie Fick | ) www.reuters.com time to read: +3 min

Investors had been banking on the study results being the next big driver of the company's shares. That's due to high demand and after Novo raised its profit outlook in April, said Berenberg analyst Kerry Holford. If the risk reduction was between 10 and 14%, shares would decrease by less than 5%. A year ago, investors said a risk reduction of 10 to 14% in the trial would put significant downward pressure on the stock, Holford said. Barclays analyst Emily Field said a risk reduction as low as 11% could boost the stock.

Persons: Novo, Kerry Holford, Holford, Emily Field, Maggie Fick, Josephine Mason, Alexandra Hudson Organizations: Soaring U.S, Novo Nordisk's, Nestle, UBS, Reuters, Barclays, May, BMO Global Asset Management, Alexandra Hudson Our, Thomson Locations: Danish, United States

☆ Novo Nordisk says obesity pill leads to 15% weight loss; availability "to be determined"
▼ + stars: | 2023-06-26 | by ( Deena Beasley | ) www.reuters.com time to read: +3 min

Novo plans to seek U.S. Food and Drug Administration approval of the high-dose pill later this year, but timing of a market launch is "to be determined," according to Mico Guevarra, medical director at Novo Nordisk. Novo Nordisk already markets an oral semaglutide, under the brand name Rybelsus, for treatment of type 2 diabetes, but its highest dose is 14mg. Oral semaglutide, according to the FDA label, needs to be taken in the morning on an empty stomach, 30 minutes before eating, drinking, or using any other oral medication - you are allowed only 4 ounces of plain water. If you eat too soon, the pill is less effective, but if you wait longer than 30 minutes its absorption may be enhanced. read moreNovo Nordisk said most patients in its obesity trial reported gastrointestinal side effects from oral semaglutide, including mostly mild-to-moderate nausea, constipation, diarrhea and vomiting.

Persons: semaglutide, Mico, Guevarra, Eli Lilly, LLY.N, Deena Beasley, Diane Craft Organizations: DIEGO, Nordisk, Food, Drug, Novo Nordisk, American Diabetes Association, FDA, Thomson Locations: Danish

☆ Novo Nordisk: trial data of oral weight-loss drug comparable to Wegovy
▼ + stars: | 2023-05-22 | by ( Louise Rasmussen | ) www.reuters.com time to read: +3 min

The results are another boost for Novo Nordisk whose weekly Wegovy injection has transformed the weight-loss market since its U.S. launch in June 2021, capturing the attention of patients, investors and even celebrities worldwide. The Danish drugmaker said in a statement that the headline results were statistically significant and showed superior weight loss when compared to a placebo. A global launch of the oral 50 milligram (mg) semaglutide drug is contingent on portfolio prioritisations and manufacturing capacity, the company added without giving further details. The results are comparable to the company's Wegovy injection, said Martin Holst Lange, head of development at Novo Nordisk. Novo Nordisk has had supply issues and struggled to keep up with soaring U.S. demand for Wegovy.

☆ Biden administration looks to free up wireless spectrum for advanced technology
▼ + stars: | 2023-03-15 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

WASHINGTON, March 15 (Reuters) - The Biden administration on Wednesday launched an effort to identify significant wireless spectrum that can be repurposed for advanced technology needs and soaring U.S. wireless demand. The Commerce Department's National Telecommunications and Information Administration (NTIA) is developing a National Spectrum Strategy with a goal to identify at least 1,500 megahertz of spectrum to study for potential new uses. The strategy will address current and future spectrum needs, including fixed and mobile wireless broadband, next-generation satellite communications and other space-based systems; advanced transportation; and industrial and commercial applications. Congress last week let the FCC's authority to auction wireless spectrum lapse for the first time in three decades, prompting some lawmakers to quickly restore the authority that has raised more than $200 billion in proceeds for the U.S. government. "We've got 6G networks coming, new mega-constellations of satellites, connected automobiles, the internet of things - all of that demands new uses of spectrum," Davidson said.

☆ Biden administration looks to free up wireless spectrum for advance technology needs
▼ + stars: | 2023-03-15 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

WASHINGTON, March 15 (Reuters) - The Biden administration on Wednesday is launching an effort to identify significant wireless spectrum that can be repurposed for advanced technology needs and soaring U.S. wireless demand. The Commerce Department's National Telecommunications and Information Administration (NTIA) is developing a National Spectrum Strategy with a goal to identify at least 1,500 megahertz of spectrum to study for potential new uses. The strategy will address current and future spectrum needs, including fixed and mobile wireless broadband, next-generation satellite communications and other space-based systems; advanced transportation; and industrial and commercial applications. Congress last week let the FCC's authority to auction wireless spectrum lapse for the first time in three decades, prompting some lawmakers to quickly restore the authority that has raised more than $200 billion in proceeds for the U.S. government. "We've got 6G networks coming, new mega-constellations of satellites, connected automobiles, the internet of things - all of that demands new uses of spectrum," Davidson said.

March 6 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever. Monetary policy decisions from Australia and Japan on Wednesday and Friday, respectively, will be market-moving events too. Before that however, investors have a deluge of headlines from China this weekend to digest. Inflation figures from South Korea, The Philippines, Thailand and Taiwan this week will be closely watched by investors and policymakers alike. With the Fed seemingly on track to tighten policy further, a renewed rise in the dollar could intensify FX-fueled inflationary pressures in Asia.

In Asia, Japan's manufacturing activity is shrinking at its fastest pace in two years, flash estimates showed. Investors will be paying close attention to the PMI reports for most other Asian countries - including economic heavyweights China, South Korea and India - due out on Dec. 1. Like stocks, regional FX markets are enjoying a period of relative calm as weaker U.S. inflation readings have weighed on the dollar. Investors will be hoping for more consolidation and calm on Friday, leaving the potential PMI fireworks for next week. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Wall St Week Ahead Soaring U.S. tech stocks leave some investors doubtful rebound will last
▼ + stars: | 2022-11-12 | by ( Lewis Krauskopf | ) www.reuters.com time to read: +5 min

At the same time, tech sector valuations remain well above the overall market, while analysts are dimming their profit outlooks for the group. That level, which is still above the 17 times earnings commanded by the S&P 500, is still too lofty for some investors. Still, some investors are considering increasing their positions in tech and megacap stocks if further evidence of easing inflation presents itself. Higher yields can weigh heavily on tech and growth stocks, whose valuations tend to be based heavily on future profits that are discounted more severely as yields go higher. The firm has been underweight large-cap tech and growth stocks, preferring small cap and value shares, Lip said.

☆ Wall Street Week Ahead: Megacap earnings to test fledgling U.S. stock rebound
▼ + stars: | 2022-10-21 | by ( Lewis Krauskopf | ) www.reuters.com time to read: +5 min

Top stocks' market value as percentage of S&P 500The S&P 500 is up nearly 5% from its Oct 12 closing low for the year after posting its biggest weekly gain since late June. Even with stocks' latest rebound, the index has dropped 21% so far in 2022, on track for its biggest decline since 2008. Yields continued to rise this week, with the yield on the benchmark 10-year Treasury note hitting a fresh 14-year high. All four stocks command higher valuations than the S&P 500, which trades at nearly 16 times forward earnings estimates. The P/Es for Apple and Microsoft are both about 22 times, Alphabet trades at 17.5 times, while Amazon sits at 60 times, according to Refinitiv Datastream.

☆ Morning Bid: Tbond tension snaps sentiment
▼ + stars: | 2022-10-21 | by ( ) www.reuters.com time to read: +5 min

China's onshore yuan fell to another 14-year low despite major state-owned banks selling dollars on Friday. read more read moreThe economic backdrop darkened. read moreAfter Tesla's disappointment earlier in the week, the U.S. earnings season took another negative twist from the digital sector overnight. read moreIn banking, shares Credit Suisse slid again ahead of next week's big announcement on its restructuring plans. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Tesla and Truss, 5% and 150
▼ + stars: | 2022-10-20 | by ( ) www.reuters.com time to read: +4 min

A Tesla model 3 car is seen in their showroom in Singapore October 22, 2021. read more The latest European tech sector earnings on Thursday were downbeat, too. Bank of England Deputy Governor Ben Broadbent said the BoE would respond to changes in Truss's tax and spending policies. read moreKey developments that should provide more direction to U.S. markets later on Thursday:* European Union summit in Brussels* U.S. Oct Philadelphia business index. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

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