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☆ Goldman Sachs says Macy's is 'best-positioned' among retail stocks and could rally more than 20%
▼ + stars: | 2023-01-30 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Macy's is one of the best-positioned retail stocks and has notable upside despite what is expected to be a tough year for the broader sector, Goldman Sachs said. "We believe M is best-positioned to navigate an uncertain but softer landing economic environment," Roach said in a Monday note to clients. Roach added that Macy's was one of few retailers that could manage inventory levels and market share shifts between product categories in 2022. That gives Macy's a "clean" inventory position starting the new year and allows the company to focus on innovation. Macy's stock has advanced 11.8% so far in 2023.

☆ New York girl, 15, sentenced to up to 9 years in jail in fatal stabbing of cheerleader
▼ + stars: | 2023-01-25 | by ( Marlene Lenthang | Marlene Lenthang Is A Breaking News Reporter For Nbc News Digital. | ) www.nbcnews.com time to read: +3 min

A 15-year-old New York girl who fatally stabbed a 16-year-old cheerleader in April has been sentenced to up to nine years behind bars. The April 8 stabbing unfolded after a parade was held to honor the boys basketball team at Mount Vernon High School for its state championship win. The defendant stabbed Green in the abdomen with a knife on Gramatan Avenue in Mount Vernon, prosecutors said. We had a young lady in school, wreaking havoc in the Mount Vernon school system." NBC News has reached out to an attorney for the teen defendant, and the school district, for comment.

☆ I am more concerned about China than I have been in years, says Yale's Stephen Roach
▼ + stars: | 2023-01-23 | 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 EmailI am more concerned about China than I have been in years, says Yale's Stephen RoachStephen Roach, Yale law school senior fellow, joins 'The Exchange' to discuss the global impact of China's reopening and more.

☆ U.S. economy losing momentum as retail sales post biggest drop in 12 months
▼ + stars: | 2023-01-18 | by ( Lucia Mutikani | ) www.reuters.com time to read: +7 min

The second straight monthly decrease in retail sales, which are mostly goods, is undercutting production at factories. Retail sales plummeted 1.1% last month, the biggest drop since December 2021. REUTERS/Jeenah Moon 1 2Retail salesMANUFACTURING OUTPUT FALLSExcluding automobiles, gasoline, building materials and food services, retail sales fell 0.7% last month. The weakness in core retail sales is likely to be offset by anticipated gains in services spending. The government reported last week that monthly consumer prices fell for the first time in more than 2-1/2 years in December.

☆ Purdue’s 1st Asian American president takes office weeks after school official mocks Asian languages onstage
▼ + stars: | 2023-01-11 | by ( Kimmy Yam | Kimmy Yam Is A Reporter For Nbc Asian America. | ) www.nbcnews.com time to read: +5 min

Chiang’s tenure comes shortly after Thomas L. Keon, chancellor of PNW mocked Asian languages during a winter commencement. A post published by nonprofit Asian American Legal Defense and Education Fund, written by writer Emil Guillermo, said that action from Chiang could send a strong message. The first Asian American president fires the racist chancellor who told a bad Asian joke.”Keon did not respond to a request for comment. “The Board has therefore issued a formal reprimand to Dr. Keon.”Thomas L. Keon, chancellor of Purdue University Northwest in Indiana. Instead, he said, it’s reflective of larger problems that Asian and Asian American students often faced.

☆ Here are 22 of the top LGBTQ news stories of 2022
▼ + stars: | 2022-12-30 | by ( Jo Yurcaba | Jo Yurcaba Is A Reporter For Nbc Out. | ) www.nbcnews.com time to read: +12 min

Here are 22 of our top LGBTQ news stories of the year. Ron DeSantis signed the controversial Parental Rights in Education law — or what critics have dubbed the “Don’t Say Gay” bill — on March 28. 'It’s already having an impact': LGBTQ people fear abortion rights reversalA supporter of gay marriage waves a flag in front of the Supreme Court on June 25, 2015. Nicola Goode / Prime VideoAmazon’s “A League of Their Own” series, which debuted Aug. 12 and was inspired by the 1992 cult classic by director Penny Marshall, brought much-needed representation to the screen for lesbians and other queer women, who celebrated how “gay, gay, gay” it was. Biden signs same-sex marriage bill at White House ceremonyPresident Joe Biden signs the Respect for Marriage Act on the South Lawn of the White House on Dec. 13.

☆ Fmr. Morgan Stanley Asia Chair Steven Roach warns China is unprepared for zero-Covid fallout
▼ + stars: | 2022-12-27 | by ( Melissa Lee | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFmr. Morgan Stanley Asia Chair Steven Roach warns China is unprepared for zero-Covid falloutStephen Roach, Fmr. Morgan Stanley Asia chairman and Yale University sr. fellow, on what he expects from China's move to loosen its zero-Covid policy. With CNBC's Melissa Lee and the Fast Money traders, Mike Khouw, Courtney Garcia, Victoria Fernandez and Steve Grasso.

☆ Double-digit U.S. home price growth streak skids to an end
▼ + stars: | 2022-12-27 | by ( Dan Burns | ) www.reuters.com time to read: +4 min

The S&P CoreLogic Case Shiller national home price index increased by 9.2% in October, down from 10.7% in September and notching the first single-digit gain since November 2020. On a month-over-month basis, S&P Case Shiller's index fell for a fourth straight month, while FHFA's gauge was unchanged. The housing market has suffered the most visible effects of aggressive Fed interest rate hikes that are aimed at curbing high inflation by undercutting demand in the economy. Unlike then, the supply of homes on the market remains extraordinarily limited and should keep a floor under house prices. "As the Fed tightens financial conditions, the housing market will likely slow further in the coming year," LPL Financial Chief Economist Jeffrey Roach said.

A 15-year-old girl pleaded guilty to first-degree manslaughter for the fatal stabbing of a cheerleader classmate earlier this year following a Mount Vernon High School celebration. Kayla Green, 16, was killed in the altercation that occurred on April 8, the same day a parade was held to honor the basketball team at Mount Vernon High School for their state championship win. Mount Vernon City School District did not immediately respond to a request for comment. Mount Vernon High School in Mount Vernon, N.Y. GoogleA "brawl" involving some cheerleaders broke out following the off-campus festivities, according to former Mount Vernon City School Superintendent Kenneth Hamilton. Videos of the April stabbing had been posted online and circulating among students, the former superintendent said in the livestream.

☆ Investing experts predict a 'soft-ish landing' for the economy in 2023—here's what that means for your money
▼ + stars: | 2022-12-20 | by ( Ryan Ermey | ) www.cnbc.com time to read: +3 min

Here's what market experts say that could mean for the economy and your portfolio. The good news: looking into next year, many experts believe the Fed can avoid a recession. "We believe there's a very good chance of at least a 'soft-ish' landing happening," says Kristina Hooper, chief global market strategist at Invesco. But while rate hikes will ideally get inflation under control, they could also slow the economy to the point that it tips into recession. For now, that looks avoidable in 2023, says Ryan Detrick, chief market strategist at Carson Group.

☆ U.S. import prices drop further; inflation pressures easing
▼ + stars: | 2022-12-14 | by ( Lucia Mutikani | ) www.reuters.com time to read: +4 min

Economists polled by Reuters had forecast import prices, which exclude tariffs, would fall 0.5%. In the 12 months through November, import prices increased 2.7%, the smallest gain since January 2021, after rising 4.1% in October. Excluding fuel and food, import prices fell 0.6%. Core import prices are being depressed by the dollar's strength against the currencies of the United States' main trade partners. The report from the Labor Department also showed export prices fell 0.3% in November after declining 0.4% in October.

☆ Goldman Sachs ups its price target on one athleisure stock, giving it over 30% upside
▼ + stars: | 2022-12-13 | by ( Zavier Ong | ) www.cnbc.com time to read: +2 min

Goldman Sachs has upped its price target on athleisure retailer Lululemon , describing it as a "best-in-class market share gainer." The bank reiterated its buy rating on the stock in a note Friday and raised its 12-month price target to $431 from $383 prior. "We continue to believe Lululemon's innovation engine is best-in-class, leading us to believe that Lululemon will continue to demonstrate above-trend growth," she wrote. "We believe Lululemon is well-positioned given limited reliance on promotions and strong pricing power. She added that the company will benefit from "cost tailwinds" in 2023, which would help deliver "solid" earnings per share growth.

☆ Goldman Sachs upgrades Gap, says stock can rally nearly 30% despite challenges facing retailers
▼ + stars: | 2022-12-12 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

The upcoming year provides a rough backdrop for retail, according to Goldman Sachs. She also hiked her price target to $18 per share from $10, implying upside of 29.5% from Friday's close. Consumers are growing more choosy in retail spending amid inflation and concerns over a potential upcoming recession, Roach said. Gap should outperform for the year when it comes to margin delivery and see "idiosyncratic" per-share earnings growth, she said. She said better execution from Gap will help investors see a long-term path for it to get back to where it had per-share earnings before Covid.

☆ The US is heading for a 'swamp' recession which could mire the economy in a disappointing and slow recovery
▼ + stars: | 2022-12-10 | by ( Madison Hoff | ) www.businessinsider.com time to read: +8 min

Kelly told Insider the recovery may be considered "tepid" given it will be a "mild improvement in things." David Kelly, chief global strategist for JPMorgan Asset Management, called it a "'swamp' recession" in a note, suggesting the "economy would likely struggle to get out of" what is potentially a mild recession. It's like standing on the edge of a swamp," Kelly told Insider. "The problem this time around is two-fold," Kelly told Insider. In short, Kelly told Insider that a modest recovery from a shallow recession could be viewed as "tepid" as it will be a "mild improvement in things."

☆ Wholesale prices rose 0.3% in November, more than expected, despite hopes that inflation is cooling
▼ + stars: | 2022-12-09 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

Wholesale prices rose more than expected in November as food prices surged, dampening hopes that inflation could be headed lower, the Labor Department reported Friday. Markets now will turn their attention to the more closely watched consumer price index, which is due out Tuesday morning. On the goods side, the index rose just 0.1%, steep decline from its 0.6% October gain. Roach said the soaring food price index is "likely an anomaly and not necessarily reflecting a change in trend." The trade index rose 0.7%, while transportation and warehousing fell 0.9%.

It could also negatively impact African nations that produce battery materials. The United States has a Free Trade Agreement in place with only one African country, Morocco. Battery materials and trade are set to be a focus at next week's U.S.-Africa Leaders' Summit in Washington where President Joe Biden will meet presidents of African countries including Congo. Under IRA, U.S. carmakers will get tax credits if they source at least 40% of battery materials domestically or from American free-trade partners. His is one of many projects across sub-Saharan Africa aiming to produce battery materials like lithium, nickel and graphite.

☆ U.S. producer prices increase in November; trend slowing
▼ + stars: | 2022-12-09 | by ( Lucia Mutikani | ) www.reuters.com time to read: +4 min

The report from the Labor Department on Friday also showed underlying producer prices increasing at their slowest pace since April 2021 on a year-on-year basis. "Easing producer prices foreshadow an improving inflation environment," said Jeffrey Roach, chief economist at LPL Financial in Charlotte, North Carolina. However, the monthly increase in producer prices illustrates the need for continued tightening." A 3.3% increase in food prices was offset by a 3.3% drop in energy costs. Excluding the volatile food, energy and trade services components, producer prices gained 0.3% in November.

☆ China's going to be better next year than was the case last year, says Yale's Stephen Roach
▼ + stars: | 2022-12-06 | 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 EmailChina's going to be better next year than was the case last year, says Yale's Stephen RoachStephen Roach, Yale law school senior fellow, joins 'Squawk on the Street' to discuss his take on the investor enthusiasm for China's potential reopening efforts and more.

☆ Goldman says buy these five stocks in a weakening macro environment
▼ + stars: | 2022-12-03 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Analysts at Goldman Sachs named a slew of stocks this week that the firm said are well positioned if market conditions deteriorate. They include Yeti, Yum China , Keysight Technologies , Capri Holdings and Taiwan Semiconductor Manufacturing . Yum China Yum China is a stock made for these times, according to analyst Michelle Cheng. Keysight Technologies "Strong results despite weakening macro. Yum China "YUMC delivered a strong margin beat in its 3Q22 results reinforcing its leading execution & business resiliency amid market volatility.

☆ Premarket stocks: Powell revives hopes of a Fed pivot. That's a bad thing
▼ + stars: | 2022-12-01 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

New York CNN Business —Federal Reserve Chair Jerome Powell made investors very happy on Wednesday. Powell’s admission that “the path ahead for inflation remains highly uncertain” means that rate hikes could be here for a while. This isn’t the first time investors rushed into markets on the belief that there would be a Fed pivot. Powell said on Wednesday that there is still a chance the economy avoids recession but the odds are slim. But the labor market still remains historically tight despite the Federal Reserve’s efforts to cool demand and bring down inflation.

☆ U.S. job openings still elevated; third-quarter GDP revised up
▼ + stars: | 2022-11-30 | by ( Lucia Mutikani | ) www.reuters.com time to read: +6 min

Job openings, a measure of labor demand, decreased 353,000 to 10.3 million on the last day of October, the Labor Department said in its monthly Job Openings and Labor Turnover Survey, or JOLTS report, on Wednesday. There were 1.7 job openings for every unemployed person in October, down from 1.9 in September. Last month's decrease in job openings was led by state and local government, excluding education, where vacancies dropped by 101,000. The job openings rate fell to 6.3% from 6.5% in September. JOLTSWORKER SHORTAGESThe elevated level of job openings also suggests worker shortages persist, which economists said were contributing to the slowdown in job growth.

☆ China's zero-Covid policy is an 'unmitigated disaster,' says economist Stephen Roach
▼ + stars: | 2022-11-29 | 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 EmailChina's zero-Covid policy is an 'unmitigated disaster,' says economist Stephen RoachStephen Roach of Yale University discusses recent Covid protests in China and explains why he doesn't think "they'll get out of hand."

☆ U.S. consumer confidence at four-month low; house price inflation slows
▼ + stars: | 2022-11-29 | by ( Lucia Mutikani | ) www.reuters.com time to read: +6 min

"However, any potential recession could be short and shallow given the tight labor market and the hint that layoffs may not be as bad as feared." The Conference Board's consumer confidence index fell to 100.2, the lowest reading since July, from 102.2 in October. Lower-income households have borne the brunt of inflation that, before October, was marked by annual consumer prices increasing at rates not seen since the early 1980s. Though house prices have came off the record highs reached during the COVID-19 pandemic-driven housing market boom, they remain significantly high. Tight supply will, however, likely keep a floor under house prices.

☆ Economist Stephen Roach warns China's zero-Covid policy pushes economic growth toward 0
▼ + stars: | 2022-11-28 | by ( Melissa Lee | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEconomist Stephen Roach warns China's zero-Covid policy pushes economic growth toward 0Stephen Roach, fmr. Morgan Stanley Asia chair, on what the China protests mean for the markets. With CNBC's Melissa Lee and the Fast Money traders, Dan Nathan, Karen Finerman, Guy Adami and Jeff Mills.

☆ Premarket stocks: Recession fears receded this earnings season
▼ + stars: | 2022-11-21 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

So can the United States avoid a serious recession? What’s happening: As the third-quarter earnings season wraps up, it appears that CEOs may think so. The past month has brought with it a solid earnings season and a bevy of encouraging economic data that shows a slowing pace of inflation. The United States will enter a “mild recession in the second half of 2023, they said. All regions of the United States saw month-over-month and year-over-year declines.

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