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☆ U.S. company comments suggest upbeat demand despite gloomy forecasts
▼ + stars: | 2023-04-21 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

The credit card company reported quarterly earnings that missed analysts' expectations, however, as it kept aside a large sum to cover potential defaults. That would mark the second straight quarterly fall for corporate earnings, a so-called "earnings recession" that last occurred when COVID-19 hit corporate results in 2020. Moreover, in aggregate, companies are reporting earnings 7.8% above expectations, compared with a 4.2% average for the prior four quarters. Baker Hughes Co. (BKR.O) said in a presentation this week that the energy outlook remained constructive even with elevated recession risks. Both Delta (DAL.N) and United (UAL.O) gave upbeat near-term outlooks on travel demand, with Delta a week ago saying it expects summer travel demand will result in higher-than-expected profit for the quarter through June despite other risks.

☆ An Avett Brother Meets a Founding Son: John Quincy Adams
▼ + stars: | 2023-04-12 | by ( Jennifer Schuessler | ) www.nytimes.com time to read: +1 min

“He knows democracy is on the line, he knows slavery is a moral evil,” Crawford said of Adams, who became a leading antislavery voice in the House of Representatives, where he served after leaving the White House. He deserves to be in the pantheon.”“Founding Son,” available through iHeartRadio starting April 13, is the latest entry in the crowded field of history podcasts. But it’s one where Crawford (who composed and played the show’s old-timey mandolin theme) hopes to use his musical celebrity and serious historical chops to illuminate a complex, formative period in the evolution of American democracy. The Early Republic, as scholars call it, may be a rich field of study. But it’s largely a blank for most Americans, who are a bit foggy on what exactly happened between the American Revolution and the Civil War.

☆ Wall Street says bad news is no longer good news. Here’s why
▼ + stars: | 2023-04-09 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

New York CNN —There’s been a seismic shift in investor perspective: Bad news is no longer good news. Markets teetered after a slew of economic reports signaled that the red-hot labor market is finally cooling (more on that later), flashing warning signals across Wall Street. Now that Wall Street is in “bad news is bad news and good news is good news” mode, it will be looking for signs that the economy remains resilient. President Joe Biden said in a statement Friday that the March data is “a good jobs report for hard-working Americans.”The March jobs report revealed that US employers added a lower-than-expected 236,000 jobs last month. The jobs report was also the first one in 12 months that came in below expectations.

☆ More signs are pointing to an imminent slowdown in the US economy
▼ + stars: | 2023-04-06 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

The US economy is showing signs of a sudden slowdown after a year of tightening financial conditions. "Expectations of tightening lending standards contributed to the market's concern that an economic slowdown is unfolding in real time," LPL said. A potential economic slowdown is also starting to show up in retail sales growth, which fell 0.4% in February. Mester's comments "contributed to the market's increasing concern that an economic slowdown is unfolding in real time," LPL's chief global strategist Quincy Krosby told Insider. First-quarter earnings season kicks off next week with the bank stocks, while the March jobs report will be released this Friday, when the stock market is closed for Good Friday.

☆ Raine Group Acquires Code Advisors, a Boutique Bank
▼ + stars: | 2023-04-05 | by ( Lauren Thomas | ) www.wsj.com time to read: 1 min

Code Advisors co-founder Quincy Smith is set to join Raine’s San Francisco office as a partner. The Raine Group, a merchant bank focused on media, technology and telecommunications deals, agreed to acquire San Francisco boutique investment bank Code Advisors, in a bid to strengthen its footing in Silicon Valley. Code Advisors co-founder Quincy Smith is set to join Raine’s San Francisco office as a partner, while Code co-founder Michael Marquez will become a special adviser helping manage Code’s existing investment portfolio while exploring new initiatives within Raine, the companies said.

☆ Dealmaker Raine Group bucks the M&A blues
▼ + stars: | 2023-04-05 | by ( ) www.reuters.com time to read: +2 min

WASHINGTON, April 5 (Reuters Breakingviews) - Amid a dealmaking drought, The Raine Group’s rainmakers are creating some flow themselves. And now it has unveiled an acquisition of its own, buying Code Advisors, a technology-focused boutique M&A firm co-founded by former CBS executives Quincy Smith and Michael Marquez. It is the first purchase for Raine since it was co-founded by a group including Joe Ravitch and Brandon Gardner in 2009 in the aftermath of the last big downturn. Since then, Raine has ballooned to 170 people with about 20 partners advising on transactions such as last year’s 4.25 billion pound ($5.3 billion) sale of Chelsea Football Club. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Stock futures are flat Monday evening: Live updates
▼ + stars: | 2023-04-03 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +1 min

Stock futures were flat Monday evening as investors weighed a spike in oil prices that led the Dow higher to start the new trading month. Futures tied to the Dow Jones Industrial Average inched down by 30 points or 0.09%. S&P 500 futures slipped by 0.08%, and Nasdaq 100 futures dipped by 0.14%. In regular trading the Dow rose 327 points, or 0.98%, and the S&P 500 added 0.37%. The Energy Select Sector SPDR fund (XLE), which tracks the S&P 500 energy sector, popped more than 4%.

☆ Markets and the economy survived a tough first quarter, but it's not going to get any easier
▼ + stars: | 2023-04-01 | by ( Jeff Cox | ) www.cnbc.com time to read: +8 min

Despite peaks and valleys, stocks closed the first quarter on an up note, with the S & P 500 rallying more than 7% and the tech-fueled Nasdaq soaring about 16%. .SPX .DJI YTD line S & P 500 gains so far in 2023 Indeed, the market has lived through a lifetime of scary headlines in the first three months of 2023. Despite repeated protestations from Fed officials that they are taking the higher-for-longer approach on interest rates, markets still expect cuts. AAPL .SPX YTD mountain Apple compared to the S & P 500 Only five of the 11 S & P 500 sectors are positive for the year, despite the substantial rally for the index. The net profit margin for the S & P 500 also is expected to edge lower to 11.2%.

☆ Indexes jump on inflation data; Nasdaq posts best qtr since 2020
▼ + stars: | 2023-03-31 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

The quarterly gains came despite a sharp sell-off in bank stocks following the collapse of two regional banks earlier this month and worries about a potential bigger financial crisis. The S&P 500 financial sector (.SPSY) was the quarter's worst-performing sector, posting a 6.1% drop, while the KBW regional bank index (.KRX) fell 18.6% for the period. For the quarter, the Nasdaq jumped 16.8% in its biggest quarterly percentage increase since the three months ended June 2020. The S&P 500 gained 7% and the Dow rose 0.4% in the quarter, based on the latest available data. The S&P 500 posted 19 new 52-week highs and no new lows; the Nasdaq Composite recorded 81 new highs and 131 new lows.

☆ Nasdaq set for best qtr since 2020, latest inflation data a boost
▼ + stars: | 2023-03-31 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +2 min

The S&P 500 (.SPX) was on track to post a second straight quarter of gains, led by the technology sector's (.SPLRCT) 20% rise. The quarterly gains came despite a sharp sell-off in bank stocks following the collapse of two regional banks earlier this month. "The equity market seems to be delighted with the slight tick lower in inflation, as it should be. The Dow Jones Industrial Average (.DJI) rose 266.83 points, or 0.81%, to 33,125.86, the S&P 500 (.SPX) gained 38.09 points, or 0.94%, at 4,088.92 and the Nasdaq Composite (.IXIC) added 152.08 points, or 1.27%, at 12,165.56. The S&P 500 posted 15 new 52-week highs and no new lows; the Nasdaq Composite recorded 69 new highs and 106 new lows.

☆ Instant View: US Feb PCE price index shows inflation keeps cooling
▼ + stars: | 2023-03-31 | by ( ) www.reuters.com time to read: +4 min

The personal consumption expenditures (PCE) price index increased 0.3% last month after accelerating 0.6% in January. In the 12 months through February, the PCE price index advanced 5.0% after rising 5.3% in January. Excluding food and energy, the PCE price index climbed 0.3% after increasing 0.5% in January. The core PCE price index rose 4.6% year-on-year after gaining 4.7% in January. There is some structural inflation that's coming down as well so that's good news and that's going in the right direction."

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, March 28, 2023. Brendan McDermid | ReutersWall Street investors believe the stock market is headed for losses after a positive first quarter, seeing cash as the best safe haven right now, according to the new CNBC Delivering Alpha investor survey. Zoom In Icon Arrows pointing outwardsThe Fed enacted a quarter percentage point interest rate increase last week, while signaling one more rate hike coming this year. Many investors believe the central bank should reverse course immediately as more rate hikes will exacerbate banking problems and cause a severe economic slowdown. With an overall bearish view on the market, 60% of the investors said cash is their safe haven right now.

☆ The market can't dismiss operating margins being affected by higher wages, says LPL's Quincy Krosby
▼ + stars: | 2023-03-31 | 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 EmailThe market can't dismiss operating margins being affected by higher wages, says LPL's Quincy KrosbyQuincy Krosby, chief global strategist at LPL Financial, joins 'The Exchange' to discuss the impact wages have on operating margins, tightening credit conditions adding stress to borrowing, and investment opportunities in developed markets.

☆ Stock futures are flat Thursday evening: Live updates
▼ + stars: | 2023-03-30 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., March 29, 2023. U.S. stock futures were flat on Thursday night. S&P 500 futures rose 0.03%, while Nasdaq 100 futures fell by less than 0.01%. "The semiconductors, [which] have come to be viewed as an important bellwether for global growth, delivered a strong performance," Krosby continued. "Economic concerns enveloping recession fears haven't vanished as the yield curve still represents a counter to the market's climb higher," Krosby added.

☆ The future of the U.S. military's tank force
▼ + stars: | 2023-03-25 | by ( Brad Howard | ) www.cnbc.com time to read: +2 min

"The Russian tanks didn't fare well," said William D. Hartung, senior research fellow at the Quincy Institute. "They were taken out pretty quickly by modern anti-tank systems. And I think that would be a problem also for U.S. tanks in a future conflict." "It's pretty obvious from that, that the tank is still an important part of the battlefield." Watch the video above to find out more about tanks and what military experts view as their potential relevance in future battles

"This is not a good moment for American diplomacy," said William Kirby, a professor of Chinese studies at Harvard University. A source familiar with that conversation called it the most antagonistic U.S.-China engagement since contentious talks in Alaska early in the Biden administration. Name me one," Biden said in his speech, evidently referring to a host of domestic and foreign policy challenges facing China. However, Biden is likely to find Xi emboldened in any call after a Chinese-brokered rapprochement between Saudi Arabia and Iran and his meetings with Putin. Reporting by David Brunnstrom and Michael Martina Editing by Don Durfee and Alistair BellOur Standards: The Thomson Reuters Trust Principles.

☆ CNBC Daily Open: Powell flipped the script
▼ + stars: | 2023-03-23 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

Jerome Powell, chairman of the US Federal Reserve, exits following a news conference following a Federal Open Market Committee (FOMC) meeting in Washington, DC, US, on Wednesday, March 22, 2023. This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. The last few Federal Open Markets Committee meetings have followed a pattern. Subscribe here to get this report sent directly to your inbox each morning before markets open.

☆ CNBC Daily Open: Jerome Powell flipped the script
▼ + stars: | 2023-03-23 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. The last few Federal Open Markets Committee meetings have followed a pattern. Markets had expected a hike of 25 basis points, and that's what they got. Indeed, Quincy Krosby, chief global strategist of LPL Financial, noted "markets are responding well to the expected 25 basis points rate hike." Subscribe here to get this report sent directly to your inbox each morning before markets open.

☆ Wall St ends higher as bank contagion fears ease, Fed eyed
▼ + stars: | 2023-03-20 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

UBS late on Sunday agreed to buy rival Credit Suisse (CSGN.S), for $3.23 billion, in a merger engineered by Swiss authorities to avoid more turmoil in the banking group. The S&P Banking index (.SPXBK) and the KBW Regional Banking index (.KRX) were higher following sharp losses last week. The collapse of Silicon Valley Bank and Signature Bank (SBNY.O) shook markets earlier this month. "Where it is another bank coming in, that is the kind of headline that helps underpin confidence in the banking system," Krosby said. The Credit Suisse takeover helped the market, but U.S.-listed shares of Credit Suisse were down sharply on Monday, while UBS Group shares were up.

☆ Investors are still worried about a run on deposits of some ailing banks while massive lifelines buy more time
▼ + stars: | 2023-03-18 | by ( Filip De Mott | ) www.businessinsider.com time to read: +4 min

Shares of First Republic and Credit Suisse continued to sell off despite massive lifelines. First Republic is receiving $30 billion in deposits from Wall Street giants and large regional banks. Meanwhile, Switzerland's central bank provided Credit Suisse with $54 billion in liquidity. In the case of Credit Suisse, depositors have been fleeing since well before SVB failed. Bank mergers could help, and UBS is in talks to acquire all or parts of Credit Suisse, according to reports.

☆ Premarket stocks: The banking meltdown put the Fed in a bind
▼ + stars: | 2023-03-17 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

In prior years, the Fed was able to respond “unswervingly” to financial risks by loosening policy without worrying about price stability, he said. The reputation play: The question isn’t about what the Fed should do, it’s about what the Fed will do, said Daco. The central bank has the tools if needed to respond to a liquidity crisis “but this is not what we are seeing,” she told reporters on Thursday. Prior to the current stress in the banking sector, Fed officials were hinting that they would hike rates by half a point. “Every central bank tightening cycle in history has induced some sort of financial strains,” she wrote Thursday.

☆ Premarket stocks: The forgotten rescue plan that could prevent another SVB-like collapse
▼ + stars: | 2023-03-15 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +9 min

Bank stocks rebounded significantly on Tuesday after logging record plunges Monday and the week prior. Those banks will coordinate to take Fed loans around the same time on the same day alongside smaller banks. ▸ US bank stocks rebounded on Tuesday, recovering some of their losses after the collapse of three banks tested markets on Monday. Regional bank stocks rallied: First Republic (FRC) Bank ended the day up 27% after a record drop on Monday. The question is whether bank stocks can hold on to their gains or if Tuesday was just a sector-wide dead cat bounce.

☆ Two top market watchers on why the picture has changed dramatically in market leadership
▼ + stars: | 2023-03-15 | 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 EmailTwo top market watchers on why the picture has changed dramatically in market leadershipKevin Caron of Washington Crossing Advisors and Quincy Krosby of LPL Financial discusses how the markets and investors need to navigate around tighter financial conditions and seek higher quality names.

There's a big shift in rate expectations," said Marc Chandler, chief market strategist at Bannockburn Global Forex in New York. Goldman Sachs (GS.N), among other big banks, said it no longer expects the Fed to deliver a rate hike at the end of its two-day policy meeting on March 22. "There's been a radical change in interest rate expectations and in that scenario the dollar has weakened," said Niles Christensen, chief analyst at Nordea. The Japanese yen strengthened 1.47% at 133.04 per dollar, while the dollar fell 1.23% against the Swiss franc at 0.910. Earlier, it hit a near one-month high of $1.0737, ahead of the European Central Bank's policy meeting on Thursday.

☆ How Silicon Valley Bank's collapse ripped through global tech
▼ + stars: | 2023-03-13 | by ( Martin Coulter | ) www.reuters.com time to read: +5 min

March 14 (Reuters) - Not long after California startups started pulling money out of troubled Silicon Valley Bank, entrepreneurs in other parts of the world woke up to the news. While the global effects of Silicon Valley Bank's collapse are just emerging, one thing is clear: tech startups, no matter how far apart, are intertwined. FOUNDERS WARYQuincy Lee, founder of Seattle-based EV charging startup Electra Era, tried to move millions of dollars from Silicon Valley Bank on Thursday afternoon as warning signs multiplied. European stocks fell on banking industry concerns, though, and even startups that did not bank with SVB were scrambling. CHINESE STARTUPS MOVING MONEYSVB's Shanghai-based joint venture, SPD Silicon Valley Bank (SSVB), said it had a sound corporate structure and an independent balance sheet.

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