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☆ Stocks splutter, euro falls ahead of euro zone inflation data
▼ + stars: | 2022-10-31 | by ( Marc Jones | ) www.reuters.com time to read: +6 min

,Euro zone October inflation numbers due shortly are seen hitting a fresh record of 10.2% year on year, in what will make for more uncomfortable reading for the European Central Bank, which is targeting 2% price growth. Combined with news that Italy's economy grew far more strongly than expected in the third quarter, euro zone bond yields moved higher EUR/GVD although the euro succumbed to another bout of U.S. dollar strength. /FRX"A lot of data is coming out this week and lot of central banks are meeting," said Societe Generale strategist Kit Juckes. We are now waiting for euro zone GDP and CPI. S&P 500 futures fell 0.2%, while Germany's 10-year government bond yield, the benchmark for the euro area, was up 5.5 basis points (bps) to 2.143%.

☆ Big Tech falters on dreary earnings and forecasts for Q4— Meta has worst week ever, Amazon tumbles 13%
▼ + stars: | 2022-10-28 | by ( Jordan Novet | ) www.cnbc.com time to read: +4 min

Other than Apple , it was a brutal earnings week for Big Tech. Alphabet , Amazon , Meta and Microsoft combined lost over $350 billion in market cap after offering concerning commentary for the third quarter and the remainder of the year. Between slowing revenue growth — or declines in Meta's case — and efforts to control costs, the tech giants have found themselves in an unfamiliar position after unbridled growth in the past decade. In Amazon's ad business, revenue growth accelerated to 30% from 21%, topping analysts' estimates. Analyst Aaron Kessler at Raymond James lowered his price target on Amazon stock to $130 from $164 after the results.

☆ Amazon stock tumbles after downbeat sales forecast
▼ + stars: | 2022-10-28 | by ( Annie Palmer | ) www.cnbc.com time to read: +2 min

Amazon shares plunged more than 8% on Friday, a day after the company projected sales in the holiday quarter would be far below expectations. Amazon shares pared back some losses from earlier Friday morning, when the stock was off about 50% from its highs, resulting in about a $940.8 billion hit to Amazon's value. Revenue in the third quarter came in at $127.10 billion, up 15% year over year, but slightly softer than Wall Street's expected $127.46 billion. Some analysts on Friday shaved their price targets for Amazon's stock to reflect near-term concerns. WATCH: Amazon misses on revenue, stock plummets on weak fourth quarter guidance

☆ Big Tech tumbles as results sound alarm bells
▼ + stars: | 2022-10-26 | by ( ) www.reuters.com time to read: +3 min

Meta Platforms Inc (META.O), which is scheduled to report after markets close on Wednesday, was trading 4% lower. Amazon.com Inc (AMZN.O) and Apple Inc (AAPL.O), both due to report on Thursday, were down about 4% and 1%, respectively. While most Big Tech stocks have edged higher in the past few weeks, overall it has been a bleak year for the sector. Netflix, Meta, Amazon, Microsoft, Alphabet and Apple have already lost a combined $2.5 trillion in market value so far this year. read moreReporting by Yuvraj Malik and Akash Sriram in Bengaluru; Editing by Saumyadeb ChakrabartyOur Standards: The Thomson Reuters Trust Principles.

☆ China's yuan tumbles to a new record low amid fears about Xi's third term
▼ + stars: | 2022-10-25 | by ( Laura He | ) edition.cnn.com time to read: +3 min

It then pared losses, trading at 7.33 by 1 pm Hong Kong time. On Monday, Chinese stocks plummeted in Hong Kong and New York, wiping out billions of dollars in their market value. International investors spooked by the outcome of the Communist Party’s leadership reshuffle dumped Chinese assets despite the release of stronger-than-expected GDP data. “Foreign investors took action to cut their exposure on Chinese assets,” he said, adding that the Chinese currency was faced with mounting capital outflow pressure. The Chinese yuan, together with other major global currencies, has weakened rapidly against the dollar in recent months.

☆ S.Korea's POSCO Holdings sees steel demand remaining weak; Q3 profit tumbles
▼ + stars: | 2022-10-24 | by ( Joyce Lee | Heekyong Yang | ) www.reuters.com time to read: +2 min

SEOUL (Reuters) -South Korea’s POSCO Holdings on Monday forecast weak steel demand would persist into the first half of next year after a price slump and a production halt at its second-biggest plant led to a 71% fall in third-quarter operating profit. FILE PHOTO: The logo of POSCO is seen at the company's headquarters in Seoul, South Korea, July 20, 2016. The fall in earnings comes as global steel demand is weakening amid surging inflation, interest rates and a property market slump in China, the world’s biggest steel market. Global steel demand is expected to grow by about 1% next year, while demand in South Korea is expected to remain flat, POSCO said. The company’s head of marketing strategy, Eom Gichen, said steel demand was expected to remain to weak in the first half of next year because of economic factors like austerity measures.

☆ Snap Stock Tumbles as Sales Growth Slows Further, Advertisers Cut Spending
▼ + stars: | 2022-10-20 | by ( Meghan Bobrowsky | ) www.wsj.com time to read: 1 min

Snap posted a further slowdown in sales growth and signaled the digital-ad market could remain lackluster for some time, sending its shares sharply lower in late trading. Snap, in an investor letter Thursday, said it is operating on an assumption of no revenue growth this quarter from the year-ago period, even though it has seen about 9% growth so far for the period. Analysts surveyed by FactSet have been expecting almost 7% growth for the fourth quarter

Wall Street's turbulent year has afforded investors plenty of opportunities to buy stocks on a pullback. While our Humana thesis hasn't been shaken, that doesn't mean we're really getting an opportunity to buy more shares. We think a move of that magnitude, in a volatile market replete with selling pressure, hardly qualifies as a pullback for a stock that's been such an outperformer. As much as we might like the stock for long-term fundamental reasons, sometimes the volatile day-to-day nature of the market has other plans. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

☆ Meet 13 first-time healthcare founders who beat the odds to raise cash from VCs in a choppy market
▼ + stars: | 2022-10-20 | by ( Rebecca Torrence | ) www.businessinsider.com time to read: +1 min

These 13 healthcare founders have raised venture capital for the first time as a recession looms. Their startups have landed anywhere from $5 million to $70 million in early-stage funding this year. "Serial entrepreneurs build consistent companies, but they usually don't build them to the same scale as first-time founders," he said. These 13 founders are taking on healthcare's rocky waters for the first time in 2022. Check out the full list, ordered from least to most money raised this year.

☆ Dollar gains with Treasury yields, sterling tumbles on hot inflation
▼ + stars: | 2022-10-19 | by ( Karen Brettell | ) www.reuters.com time to read: +4 min

British Pound Sterling and U.S. Dollar notes are seen in this June 22, 2017 illustration photo. Benchmark 10-year Treasury yields resumed their march higher as investors maintained expectations that the Federal Reserve will continue to aggressively raise rates to bring down soaring inflation, boosting demand for the U.S. currency. Register now for FREE unlimited access to Reuters.com RegisterThe U.S. central bank is expected to lift rates by another 75 basis points when it meets on November 1-2, with an additional 50 basis points or 75 basis points increase also likely in December. Japanese Finance Minister Shunichi Suzuki said on Wednesday that he was checking currency rates "meticulously" and with more frequency, local media reported. The BOJ remains an outlier among a global wave of central banks tightening monetary policy to combat soaring inflation, as it focuses on underpinning a fragile economy.

☆ 15 risky and hated stocks that could rally if market keeps bouncing
▼ + stars: | 2022-10-19 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

The major averages are up this week on the back of those results, with the S & P 500 roughly 3.8% higher. When a beaten-up stock market is bouncing off recent lows, the most hated names are sometimes what leads the way back. We screened for risky and hated names in the S & P 1,500 Composite Index. These stocks are down more than double the broader market this year, and have more than 10% of their tradable shares shorted. About 38% of tradable shares are being shorted.

☆ Goldman says these resilient software stocks are buys even in an economic ‘hard landing’
▼ + stars: | 2022-10-17 | by ( Fred Imbert | ) www.cnbc.com time to read: +2 min

Software stocks have taken a beating this year, but Goldman Sachs thinks there are some names in the space that can withstand a sharp economic downturn. As of Monday, it traded more than 40% below its 52-week high. Despite all of this, Goldman's Kash Rangan was able to identify some software stocks that can be resilient despite an economic "hard landing," or if the U.S. economy tumbles into a recession. The tech giant is down about 30% year to date and has fallen 32% since reaching a 52-week high last November. Goldman rates intuit as a buy and sees upside of roughly 51% from Friday's close.

☆ CEO confidence tumbles yet again as execs prepare for recession, survey finds
▼ + stars: | 2022-10-13 | 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 EmailCEO confidence tumbles yet again as execs prepare for recession, survey findsRoger Ferguson, vice chairman of the Business Council and trustee of the Conference Board and former Federal Reserve vice chairman, joins CNBC's 'Squawk Box' to discuss the results from the Business Council and Conference Board's CEO confidence survey.

☆ Inflation expectations ease, while spending outlook tumbles, Fed consumer survey shows
▼ + stars: | 2022-10-11 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

That's the lowest level since January and the biggest one-month decline ever in a data series going back to June 2013. Respondents did put a slightly higher number on their outlook for three-year inflation, moving that forecast to 2.9%, up 0.1 percentage point from August. Median five-year expectations moved up to 2.2%, an increase of 0.2 percentage point but much closer to the Fed's goal. Consumers see gas prices increasing by half a percentage point, and food to surge by 6.9%, a full percentage point increase from August's survey. Unprecedented levels of fiscal and monetary stimulus also coincided with the inflation surge.

☆ Aldi UK's trading accelerates as shoppers seek savings
▼ + stars: | 2022-09-26 | by ( James Davey | ) www.reuters.com time to read: +2 min

Register now for FREE unlimited access to Reuters.com RegisterAn Aldi superstore is seen in London, Britain, September 29, 2018. Privately owned Aldi (ALDIEI.UL), which earlier this month overtook Morrisons to become Britain's fourth-biggest supermarket group, said operating profit fell to 60.2 million pounds ($63.8 million) in 2021 from 287.7 million pounds in 2020. The profit fall was blamed on investment to keep prices low, higher staff costs and COVID-19 related expenses. read moreHurley said the cost of living crisis is a time "when Aldi comes into its own". ($1 = 0.9433 pounds)Register now for FREE unlimited access to Reuters.com RegisterReporting by James Davey; Editing by Jason Neely and Muralikumar AnantharamanOur Standards: The Thomson Reuters Trust Principles.

☆ Dow tumbles 700 points into bear market territory, sets new low
▼ + stars: | 2022-09-23 | by ( Samantha Subin | Samantha Subin Is A Digital News Associate With Cnbc. | ) www.nbcnews.com time to read: +2 min

The Dow Jones Industrial Average fell by 713 points, or 2.4%, falling below 30,000 to a new low for the year. The 30-stock index is now down 20% from its high, known as bear market territory on Wall Street. The S&P 500 fell 2.5% and headed of a new 2022 closing low, while the Nasdaq Composite slid about 2.5%. Goldman Sachs cut its year-end S&P 500 target because of rising rates, predicting at least 4% downside from here. The Dow has given up about 4.5% this week, while both the S&P and Nasdaq have fallen 5.2% and 5.5%, respectively.

☆ Dow tumbles 400 points and breaks below 30,000 as recession fears mount
▼ + stars: | 2022-09-23 | by ( David Goldman | ) edition.cnn.com time to read: +1 min

New York CNN Business —US stocks fell sharply Friday morning, as investors continued to worry about even more rate hikes from the Federal Reserve that could land the US economy in a recession. The Dow (INDU) tumbled 413 points, or 1.4%, in morning trading. The Dow remained below 30,000 points, a level it briefly breached Thursday. If the Dow ends the day below 30,000, it would be the first time it closed below that barrier since June 17. The 10-year yield fell back a bit Friday but remains near 3.7%, and the 2-year yield is above 4.1%.

☆ China's yuan tumbles near key threshold as dollar strength increases on aggressive Fed policy
▼ + stars: | 2022-09-23 | by ( Phil Rosen | ) www.businessinsider.com time to read: +2 min

The onshore yuan weakened 0.58% against the dollar Friday to 7.1193, Bloomberg data shows. China's currency neared the lower limit of its daily trading band, while the dollar climbed thanks to a hawkish Fed. The yuan joined other top global currencies lower as the dollar continued to strengthen amid the Federal Reserve's hawkish rate-hike campaign. Earlier in September, the offshore yuan dipped below the psychological threshold of 7 per dollar, which marked its weakest level since July 2020. Japan moved Thursday to defend the yen's value by dumping dollars, and India has been rapidly drawing down its currency reserves to bolster the rupee.

☆ TSX falls by most in 3 months, C$ slides as oil rout weighs
▼ + stars: | 2022-09-23 | by ( Fergal Smith | ) www.reuters.com time to read: +3 min

The Art Deco facade of the original Toronto Stock Exchange building is seen on Bay Street in Toronto, Ontario, Canada January 23, 2019. The Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) ended down 521.70 points, or 2.8%, at 18,480.98, its biggest decline since June 16 and its lowest closing level in more than two months. Wall Street's main indexes also closed sharply lower but not as much as the Toronto market. read moreThat added to pressure on the Canadian dollar. "While yields can continue to move up you are seeing a coupon that will at least absorb some of that."

☆ Cramer’s week ahead: FedEx’s warning shows the Fed is further along in fighting inflation than expected
▼ + stars: | 2022-09-16 | by ( Krystal Hur | ) www.cnbc.com time to read: +3 min

Monday: AutoZoneQ4 2022 earnings release at 6:55 a.m. Wednesday: General Mills, Salesforce, Lennar, KB HomesGeneral MillsQ1 2023 earnings release at 7 a.m. ETProjected EPS: $4.86Projected revenue: $8.97 billionKB HomeQ3 2022 earnings release between 4:10 to 4:20 p.m. ETProjected EPS: $2.66Projected revenue: $1.88 billionCramer said he expects both Lennar and KB Home to be soft due to soaring mortgage rates. ETProjected EPS: $4.17Projected revenue: $70.8 billionCramer said he hopes the stock goes down so that the Investing Club can buy more.

☆ FedEx warns of a global recession, cutting sales forecast by half a billion dollars
▼ + stars: | 2022-09-16 | by ( Chris Isidore | ) edition.cnn.com time to read: +4 min

New York CNN Business —FedEx warned that a global recession could be coming, as demand for packages around the world tumbles. What’s more, FedEx said it expects business conditions to further weaken in the current second quarter, which runs through November. While global revenue this quarter is likely to be flat compared to a year earlier, FedEx’s earnings are expected to plunge more than 40%. Additionally, the Dow Transportation Index fell 5%, while shares of FedEx rival UPS (UPS) closed about 5% lower. While it gave the sharply lowered guidance for the current quarter, FedEx said it was withdrawing its full-year guidance issued in June due to the “continued volatile operating environment.

☆ Sword Health wants to do some M&A as business picks up. Here's what the physical-therapy startup is looking for.
▼ + stars: | 2022-09-14 | by ( Rebecca Torrence | ) www.businessinsider.com time to read: +4 min

After a year of growth, Sword Health is looking to expand through mergers and acquisitions. CEO Virgílio Bento said he's looking for startups with solid healthcare partnerships and teams. As merger-and-acquisition activity in healthcare heats up, Sword Health has some of its own irons in the fire. Since October, the startup has grown its employer base from 150 to more than 1,400, Insider has learned exclusively. Instead, Bento said Sword wanted to accelerate how it grows, including by exploring more M&A opportunities.

☆ Short Warren Buffett? KBW gives bet against Berkshire as one of its top year-end trades
▼ + stars: | 2022-09-07 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

KBW believes that one of the biggest reasons for a near-term pullback in Berkshire's stock is the likely slowdown in share repurchases. Buffett had supported Berkshire's stock through an aggressive and consistent buyback program over the past few years. Berkshire spent approximately $1 billion on share repurchases during the second quarter, compared with $3.2 billion in the first quarter. Geico risk Lastly, KBW noted that Berkshire's auto insurance giant Geico is still grappling with rising labor and auto parts costs. In the second quarter, Geico reported an underwriting loss of $487 million, even as the conglomerate's other insurance lines registered gains.

☆ Dollar Tree's stock tumbles as rival Dollar General's bet on food and groceries pays off
▼ + stars: | 2022-08-25 | by ( Robert Hum | ) www.cnbc.com time to read: +4 min

Look at what's happening between Dollar General and Dollar Tree if you want proof. The reason for Dollar Tree's weaker outlook is price cuts it's taking at Family Dollar stores that will eat into margins. Dollar General said it's seeing plenty of customers visiting its stores to buy food and groceries. But the problem for Dollar Tree is that it has less exposure to the grocery business than Dollar General. Family Dollar's customers tend to have lower incomes than both Dollar Tree and Dollar General, and clearly these shoppers are feeling the strain of months of higher prices.

☆ Reading 2 short sentences in 'Millionaire Teacher' convinced me to change my retirement savings strategy, and it's helped me earn thousands
▼ + stars: | 2020-12-27 | by ( Alexis Rhiannon | Read More | Read Less | ) www.businessinsider.com time to read: +6 min

Four years ago I'd started saving for retirement, but I was too afraid to actually invest the money. But reading the book "Millionaire Teacher" opened my eyes: I learned quickly that I was missing out on years of compound interest. But then, two short sentences in the book "Millionaire Teacher: The Nine Rules of Wealth You Should Have Learned In School" finally convinced me the answer was yes. "Over the past 90 years," Hallam wrote, "the US stock market has generated returns exceeding 9% annually. 'Millionaire Teacher' challenged my preconceived notions about the marketBefore I read "Millionaire Teacher," my understanding of the stock market was vague and amorphous.

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