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A new report commissioned by a labor-backed group is examining a problem many Democrats might rather ignore: the exodus of working-class voters from the party they used to call home. Some voices on the left have downplayed the significance or even denied the loss of working class voters, but the data is increasingly clear and signs of realignment are everywhere. “We take the right wing and Republican Party seriously when they say they want to be the party of the working class,” Mitchell said. Too often, the report argues, working-class voters are thought of as white men without college degrees, likely involved in a trade like plumbing. If nothing else, Mitchell hopes the research will push Democrats to take seriously the erosion with working class voters and to move beyond one-size-fits all stereotypes when thinking about how to talk to working-class voters.
Persons: Donald Trump, , Ohio Sen, JD Vance, Donald Trump’s, “ I’ve, MAGA, , Maurice Mitchell, it’s, ” Mitchell, Harris, Mitchell Organizations: Republican, Republicans, Working Families Party, Working, Democratic, NBC News, Republican Party, HIT, Biden Locations: Ohio, New York,
For example, this season started with the banks roaring higher on great numbers, legitimately great numbers led by a phenomenal Bank of America quarter. The later just made no sense because it is pulling away from Intel on the low end and if Nvidia really does have production problems then AMD is the de facto winner. In fact, the only stock that didn't suffer from an Nvidia relation, Apple, got through earnings without too much trouble. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.
Persons: , techs, We've, Warren Buffett, Buffett, industrials Eaton, Donald Trump, we've, execs, I've, Kamala Harris, Trump, Jim Cramer's, Jim Cramer, Jim, Rob Kim Organizations: Federal Reserve, of America, Bank of America, Club, Apple, Fed, SL Green, Boston Properties, Nvidia, Arista Networks, Micron, Dell, Hewlett Packard Enterprise, Devices, Intel, AMD, Accenture, Deloitte, McKinsey, White, Jim Cramer's Charitable, CNBC Locations: Lowe's
CNBC's Jim Cramer said Monday the recent reshuffling on Wall Street is about more than a resurgence in small-cap stocks. "This market is not experiencing a smallcap rally, it's experiencing a rally in everything else but the tech titans. Cramer suggested the market isn't being led solely by a few smaller-cap companies that are performing well. Instead, he said, large institutions may be buying poor quality small stocks "as part of a larger basket" with indexes like the Russell 2000 or the S&P Small Cap 600. There are also larger companies that have seen huge gains recently as part of the market broadening, he said, such as McDonald's .
Persons: CNBC's Jim Cramer, Cramer, Russell, Wall, McDonald's Organizations: titans
That will be the case in this jam-packed week , with the earnings from Microsoft on Tuesday, Meta Platforms on Wednesday, and Apple and Amazon on Thursday. If Alphabet said it cut back on data-center spending, then it would be alleged the company is falling behind Amazon and Microsoft in the AI race. The company also is now dogged by another competitor in search engines after ChatGPT creator OpenAI announced a prototype of SearchGPT . Apple reports on Thursday, and if you think the cloud-computing heavyweights are spending on too much AI, then you should be buying Apple. President Joe Biden always chose to have his agencies wear down tech companies.
Persons: Don Forst, There's, hadn't, OpenAI, Tesla, Elon Musk, , Russell, Mark Zuckerberg, Nvidia's Jensen Huang, It's, Zuckerberg, EssilorLuxottica —, EssilorLuxottica, Andy Jassy, Stanley Black, Decker, it's, Kamala Harris, Tony West, Joe Biden, Harris, Biden, Biden couldn't, Gina Raimondo, Raimondo, Donald Trump, Sen, JD Vance, Vance, Trump, Xi Jinping's, Abbott, Jim Cramer's, ABT, Jim Cramer, Jim, Sebastien Bozon Organizations: Los Angeles Herald Examiner, Microsoft, Apple, Google, YouTube, Amazon, Nvidia, Siggraph, Federal Reserve, Mohawk Industries, Fortune Brands, Club, Democratic, Uber Technologies, titans, Department of Justice, Federal Trade Commission, Department of Commerce, Republican, Big Tech, Republican Party, Trump, Abbott Laboratories, Drug Administration, CNBC, AFP, Getty Locations: Los Angeles, Denver, Ray, California, U.S, Ohio, Taiwan, St, Louis , Missouri
Business Insider spoke with four nail-industry experts, including salon owners and nail technicians, about the biggest mistakes clients make. Don't pick off your previous manicurePicking at your nail polish, especially gel, can strip the keratin from your nails. It's worth it to pay the extra $10 for your nail technician to properly remove old polish. Advertisement"With nails, and especially nail art, you really need those little minutes," she told BI. Related stories"What people don't realize is that a highly sought-after nail technician is booked back-to-back all day," Charloff told BI.
Persons: , Ainsley Moore, Alba, Donna Charloff, tardiness, Charloff, Tony Tjan, MiniLuxe, Eryn Kingsley, Kingsley, it's, Shutterstock Kingsley, Tjan Organizations: Service, Business Locations: doesn't, Alba
Traders work on the floor at the New York Stock Exchange on June 14, 2024. U.S. stock futures were little changed Wednesday night after both the S&P 500 and Nasdaq Composite closed at new all-time highs. Futures tied to the broad market index slipped less than 0.1%, as did Nasdaq 100 futures . These moves come before a key inflation report due to be released Thursday morning, which could help solidify expectations for a rate cut in September. "Any upside surprises in inflation are going to be downside surprises for markets.
Persons: Dow Jones, Mike Bailey Organizations: New York Stock Exchange, Nasdaq, Dow Jones Industrial, Costco Wholesale, Dow, FBB Capital Partners, PepsiCo, Delta Air Lines
Advertisement'Naked resignation'One popular phrase on Chinese social media is "两点一线," which translates to "two points, one line." And discussion is rife on Chinese social media about 裸辞 — a term that translates, quite literally, to "naked resignation." Examples seen in BI's search of the keyword included "how much to save before naked resignation," "three things to consider before naked resignation," and "20 jobs to try after naked resignation." Advertisement"There are articles on Chinese social media criticizing gap years," she said, "arguing that it is a Western concept that does not adapt well to Chinese society." "There's a popular internet buzzword among Chinese young people, "Gai溜子," which can be roughly translated to "drifter" on the street," Lim added.
Persons: , Jack Porteous, Tong, Porteous, aren't, Laurence Lim, Sally Maier, Yip, Qilai Shen, Lim, It's, Jack Ma, Qu Jing, Jenny Chan, Gen, Gai 溜 Organizations: Service, Business, Tong Global, Twitter, Publishing, Getty, Cherry, Consulting, Pictures, National Bureau of Statistics, Baidu, Hong Kong Polytechnic University Locations: China, Weibo, Xiaohongshu, Europe
Entertainment industry professionals gathered at an IATSE, Teamsters Local 399 and Hollywood Basic Crafts rally in Encino in March. They are represented by Teamsters Local 399, with the drivers making up the largest portion of their membership. What is Hollywood Basic Crafts? Hollywood Basic Crafts and Teamsters Local 399 began June 10. IATSE, Teamsters Local 399 and Hollywood Basic Crafts’ respective contracts expire on July 31.
Persons: “ There’s, ” Lindsay Dougherty, , ” Dougherty, Hollywood’s, IATSE, Dougherty, there’s Organizations: CNN, Teamsters, Hollywood Basic Crafts, Alliance, Television Producers, Crafts, IATSE, Hollywood Crafts, Entertainment, zz, International Brotherhood of Teamsters, of Transportation, wranglers, OPCMIA, Plasterers UA, International Alliance, Hollywood Locations: California, Encino, Hollywood, IBEW, IATSE
Horror stories about 'veneer techs' are going viral. Unlicensed practitioners can cause irreversible damage, the American Dental Association warned. But an emerging crop of unlicensed practitioners — who go by the dubious distinction of "veneer techs" — could cause serious damage. But many so-called veneer techs focus on a less invasive procedure known as composite-bonded veneers, according to a new report in The Cut. This story is available exclusively to Business Insider subscribers.
Persons: Organizations: American Dental Association, Service, Business Locations: Illinois, Nevada
But what if I told you this group shrunk its share count dramatically since 2019? The numbers tell the story: Lennar now has 276 million shares outstanding, down from 318 million five years ago. Other than Toll, most of the homebuilder management teams do not emphasize this fundamental change in share count. Management has been buying hand over fist since 2019, shrinking the share count to 215 million from 264 million. My rather unassailable conclusion is pretty simple: Check the share count before you buy a stock.
Persons: PulteGroup, DR Horton, , Douglas Yearley hadn't, homebuilders, Jim Umpleby, Eaton, Dow, Cummins, Elliott, Marc Benioff, Colette Kress, Williams, Jim Cramer's, Jim Cramer, Jim, Mike Blake Organizations: Federal Reserve, DR, Management, Dick's, Goods, Abercrombie, Fitch, Williams, Walmart, Caterpillar, DuPont, Marathon Petroleum, Elliott Management, Valero Energy, Pacific, Norfolk Southern, CSX, Apple, Microsoft, NFL, Jim Cramer's Charitable, CNBC Locations: tatters, California, Sonoma, America, Williams Sonoma, San Marcos , California
CNBC's Jim Cramer on Monday unpacked Federal Reserve Chairman Jerome Powell's comments on inflation, saying that even though it's unclear when rates will come down, there is money to be made in the interim. He encouraged investors to buy stocks and not just keep money in lower-risk investments. "I'm beginning to believe that the biggest money will be made between this period where the Fed's holding pat and the moment where we get the first rate cuts," Cramer said. After the Federal Reserve's meeting last week, Powell said the central bank would cut rates sometime this year, but not likely in March, when many on Wall Street expected. Cramer conceded that some investors think stocks are a reckless option until the Fed starts cutting.
Persons: CNBC's Jim Cramer, Jerome Powell's, Cramer, Powell, Scott Pelley Organizations: Wall, Fed
Its 18-month investigation found that Petr “Gara” Garabik had engaged in repeated sexual harassment and unwanted sexual contact with Reid. “New women on the team were warned about him,” Reid told the AP. Garabik told the AP in an email that the case against him was "complete nonsense from the start." By that I mean other team members.”Last May, six months after SafeSport concluded its investigation, U.S. Biathlon retroactively changed the criteria for being pre-qualified for the World Cup team — and Reid was bumped off. During the SafeSport investigation Reid underwent hours of questioning, a process that retraumatized her, she said.
Persons: Joanne Reid, Deedra Irwin, Reid, ” Irwin, Petr “ Gara ” Garabik, Wax, , Larry Nassar, Garabik “, , Beth, Heiden, Eric Heiden, ” Reid, Garabik, SafeSport, , Jack Gierhart, ” Gierhart, “ We’re, pats, Bernd Eisenbichler, Irwin, Lowell Bailey, Bailey, , Ju’Riese Colón, there's Organizations: Biathlon, Army National Guard, U.S . Center, SafeSport, The Associated Press, U.S, AP, World, U.S . Locations: Czech, U.S, Slovenia, ’ ”, Garabik, Austria
Opinion: How Taylor Swift conquered capitalism
  + stars: | 2023-12-02 | by ( Opinion Jeff Yang | ) edition.cnn.com   time to read: +7 min
CNN —There’s a whole cottage industry in pop culture essay writing dedicated to trying to unpack why Taylor Swift is so successful. Singer-songwriter Taylor Swift performs onstage during Taylor Swift The 1989 World Tour Live In Los Angeles at Staples Center on August 25, 2015 in Los Angeles, California. Taylor Swift performs onstage during night one of Taylor Swift | The Eras Tour at Nissan Stadium on May 05, 2023 in Nashville, Tennessee. Already a billionaire, Swift stands to personally make as much as $4.1 billion from the “Eras” tour, according to estimates cited by the Post. Keep an eye out: “The Tao of Tay: The Swift Path to Success,” coming soon to better airport bookstores everywhere.
Persons: Jeff Yang, Bruce, , CNN —, Taylor Swift, Jeff Yang CNN, Kim Kardashian, Michael Jackson, Madonna, Britney Spears, Justin Bieber, aplomb, Swift, Ariana Grande, Tay, bestie, she’s, Celine Dion, She’s, Christopher Polk, Scooter Braun, ” It’s, Joan of Arc, John Shearer, “ Taylor Swift, Swift’s, Merrill Lynch, Organizations: CNN, Singer, Los, Staples Center, Republic Records, Universal Music Group, Universal, Washington Post, Nissan, Machine Records Locations: Asian America, America, Los Angeles, Los Angeles , California, Nashville , Tennessee, Pennsylvania, Nashville, Tay
New York CNN —Retail pharmacy workers have told CNN that their employers have left them severely overworked and understaffed. The grassroots organizers had difficulty organizing the large-scale walkout without institutional support, and failed to rally pharmacy workers on a significant level. A number of other US unions represent retail pharmacy workers. United Healthcare Workers East represents nearly 5,000 pharmacists and pharmacy techs in hospitals and retail pharmacies. The United Food and Commercial workers also represent retail pharmacy staff but do not share official membership numbers.
Persons: walkouts, , we’re, ” Walkouts, ” Dr, Shane Jerominski, Jerominski, Maurice Shaw, ” Jerominski, they’re, “ We’ve, we’ve, Fraser Engerman, , Amy Thibault Organizations: New, New York CNN, Retail, CNN, International Association of Machinists, Aerospace Workers, Walgreens, CVS, Pharmacy, ” Organizers, IAM Healthcare, IAM, Facebook, , United Healthcare Workers, Food Locations: New York, United States, North America, walkouts, Bled
While Elon Musk has spoken out against unions, a major Tesla factory reportedly has a UAW organizing committee that's speaking with workers. Some Tesla workers say they wouldn't join a unionized company and predicted the UAW would struggle to find footing at Tesla. AdvertisementAdvertisementThe United Auto Workers might have set its sights on Tesla, but some workers at the EV company told Insider they'd be hard-pressed to join a union. Even before the 36-day strike, Ford and GM already spent over $20 more per hour on factory workers than Tesla, according to analysts. Still, other workers told Insider they wouldn't jump ship even for a better pay package at a unionized company.
Persons: Elon Musk, , Shawn Fain, Tesla, Musk, they'd, Metall, Marquard, it's, you've, Fain, Elon Organizations: UAW, Tesla, Service, United Auto Workers, EV, Detroit automakers, Ford, General Motors, GM, Fremont, Elon Musk's, National Labor Relations Board, Buffalo New, NLRB, Bloomberg, Workers Locations: Fremont, California, Buffalo New York, rehire, company's Brandenburg, Tesla, Tesla's
New York CNN —In an unstable economic climate marked by geopolitical unrest, concerns about the Federal Reserve and soaring Treasury yields, investors are closely watching this week’s Big Tech earnings for clues about where the volatile stock market may head next. That means investors are watching their earnings particularly closely for prognostications about where the market is headed next. Big tech controls the market: Excluding Big Tech, the average earnings for S&P 500 companies would drop by 5% this quarter, according to Bloomberg Intelligence data. “Big Tech valuations pose risks for the broader markets, as Big Tech has contributed to almost all of the stock market’s year-to-date gains,” said David Bahnsen, chief investment officer of the Bahnsen Group. “This lack of market breadth suggests that investors are still highly prone to chasing momentum and getting overly excited about different market themes and stories, such as artificial intelligence.”It also suggests that there’s not a lot of room for any Big Tech earnings missteps.
Persons: , , David Bahnsen, there’s, Louis Navellier, Matt Egan, ” Brian Nelson, Samantha Murphy Kelly Organizations: CNN Business, Bell, New York CNN, Federal Reserve, Big Tech, Microsoft, Google, Nvidia, Apple, Bloomberg Intelligence, Bahnsen, Navellier, Associates, Treasury Department, Gulf Cooperation, United, United Arab Emirates, Saudi, GCC, Treasury, Hamas, United Arab, Mac, IDC Locations: New York, States, Saudi Arabia, Qatar, Kuwait, Oman, Bahrain, United Arab, Israel, US, Riyadh, United States, Sudan, Algeria, Turkey, United Arab Emirates, Treasury’s
Adobe May Be Tech’s Biggest AI Bet Yet
  + stars: | 2023-10-13 | by ( Dan Gallagher | ) www.wsj.com   time to read: 1 min
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Persons: Dow Jones
Retired astronaut Leland Melvin says a lot of astronaut food is actually pretty tasty. During his two trips to the International Space Station with NASA, he managed to eat pretty well. Astronaut food has come a long way since the early days of dehydrated eggs and Tang. AdvertisementAdvertisementAt Houston's Space Food Systems Laboratory in Johnson Space Center, NASA techs freeze prepared food at about minus 40 degrees Fahrenheit. Leland Melvin and his NASA STS-129 crew members eat a meal at the galley in the Unity node of the International Space Station.
Persons: Tang, Leland Melvin, , Melvin, Jason Connolly, Mike Massimino, Melvin didn't, Velcro, Chris Hadfield, Hadfield, Daniel Tani, José Andrés Organizations: Service, International, NASA, Station, Food Systems Laboratory, Johnson Space Center, Kennedy Space Center, International Space Station, sips, YouTube, Space Station, Michelin Locations: AFP
REUTERS/Leonhard Simon/File Photo Acquire Licensing RightsOct 5 (Reuters) - German automaker Porsche (P911_p.DE) and investor UP.Partners have launched Sensigo, a California-based startup using artificial intelligence to enable vehicle service technicians to diagnose, resolve and eventually predict repair issues. Sensigo said its AI-powered service platform and tools can improve the repair process for customers and techs, while boosting service center profitability, reducing repair costs and minimizing warranty risk. The partners’ first startup, Pull Systems, announced in March, manages electric vehicle battery performance. In addition to Porsche, UP’s investment partners include Toyota’s (7203.T) Woven Capital, Alaska Air Group (ALK.N), ARK Invest and others. Portfolio companies include aerial vehicle startups Skydio and Beta Technologies.
Persons: Leonhard Simon, UP.Partners, Sensigo, Paul Lienert, Nick Macfie Organizations: Porsche, REUTERS, Systems, Alaska Air Group, ARK Invest, Beta Technologies, Thomson Locations: German, Munich, Germany, California, Santa Monica, Capital, United States, Detroit
Cramer has referred to this block of Nasdaq Composite stocks as his Magnificent Seven, and they include Apple, Amazon, Meta, Alphabet, Nvidia, Tesla and Microsoft. "You need the Magnificent Seven, and then the rest." To Cramer, few companies have the balance sheets and product demand to withstand the bond market competition. The Magnificent Seven stocks aren't hurting for money, he said, and are actually "coining a fortune with their considerable cash hoards." When the bond market calms down, he said, these companies will be recognized for their solvency.
Persons: CNBC's Jim Cramer, Cramer Organizations: Nasdaq, Apple, Nvidia, Tesla, Microsoft
Tech stocks started the year on a tear – but have plummeted since July. The central bank has signaled it’ll hold interest rates at a high level well into 2024 in a bid to crush inflation. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. The sector enjoyed an AI-fueled boom over the first half of 2023, with a surge by the "Magnificent Seven" group of mega-cap tech stocks powering both the Nasdaq and S&P 500 to massive gains. Higher interest rates tend to disproportionately affect tech and other growth stocks, because they're more reliant on borrowing cash to boost their future cash flows.
Persons: fretting, , Jerome Powell Organizations: Nasdaq, Federal Reserve, Service, Technology, Federal, Fed
The United Auto Workers president Shawn Fain defended worker demands for a 40% pay increase. He appeared on CBS on Sunday saying a pay rise won't stop automakers from making "billions in profits." He also criticized Tesla CEO Elon Musk, calling him "greedy." "Most of these workers in those companies are scraping to get by so that greedy CEOs and greedy people like Elon Musk can build more rocket ships and shoot their self into outer space. AdvertisementAdvertisementIf the UAW wins on its demands for higher pay, the Detroit 3's hourly labor costs could more than double to $136 an hour, according to Wells Fargo estimates.
Persons: Shawn Fain, Tesla, Elon Musk, Elon, Stellantis —, Fain Organizations: United Auto Workers, CBS, Service, United Auto Workers union, Detroit, Ford, General Motors, UAW, Tesla, Toyota, Workers, GM Locations: Wall, Silicon, United States, Wells
This historic weakness is well-enshrined in stock market lore and encapsulated in the old chestnut, "Sell Rosh Hashana and buy Yom Kippur." Triple witching refers to each quarter's simultaneous expiration of stock index futures and options and individual stock options. It may be true we are in a bull market, but it is certainly not a typical one. Instead of trying to pick winners, Marks sensibly proposes the opposite: You might also achieve that goal — of producing alpha, or outperformance — by holding fewer of the losers. That is why the vast majority of active stock pickers continue to underperform the market, and why money continues to flow into passive index funds.
Persons: Rosh Hashana, Jonathan Krinsky, Lowry, Howard Marks, Oaktree, Marks, FAANGs, Jesse Livermore, It's Organizations: Triple, Bulls, Apple, Microsoft, Nvidia, Tesla, Facebook, Netflix Locations: Yom, Yom Kippur
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Persons: Dow Jones
AdvertisementAdvertisementVoting is underway among 85,000 Kaiser Permanente healthcare workers on whether or not to authorize what would be the largest healthcare strike in US history. But despite the possibility of an interruption to their healthcare, some Kaiser Permanente patients are siding with the workers. What the strike could mean for Kaiser Permanente patientsThe Coalition of Kaiser Permanente Unions represents employees across dozens of roles at the company, including admissions staff, cleaners, phlebotomists, surgery assistants, and others. Mike Blake/ReutersShort staffing prevents quality healthcare, Kaiser Permanente patients and workers sayShort-staffing is the No. Dardon said the union effort has received a significant amount of support from Kaiser Permanente patients.
Persons: Kaiser, Mark Mason, Mason, Keven, Dardon, Mike Blake, Miriam De La, there's, De La Paz, Mason he'd, Kaiser Permanente, we've Organizations: Kaiser Permanente, Permanente, Kaiser Permanente Unions, Coalition, Healthcare, Miriam De La Paz Locations: Oregon, Kaiser
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