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☆ You may hate high interest rates and home prices, but many boomers have reason to celebrate
▼ + stars: | 2023-09-23 | by ( Jacob Zinkula | Andy Kiersz | ) www.businessinsider.com time to read: +6 min

High home prices and interest rates have created many challenges for young Americans. These trends have been driven by the combination of high home prices and interest rates. By pushing up the number of renters, high home prices help keep young Americans' rent prices high. For young Americans, there's not a whole lot to like about high interest rates. Elevated rates not only contribute to the high mortgage rates that have helped make homeownership so expensive but also make credit-card debt all the more costly.

Persons: —, boomers, Xers, there's Organizations: Service, National Association of Realtors, Atlanta Fed, Federal, Federal Reserve, New, Boomers, US, Treasury Locations: Wall, Silicon, New York

BERLIN (AP) — Germany hired Julian Nagelsmann to lead the men’s national soccer team on Friday, entrusting the former Bayern Munich coach with doing a better job than the last Bayern Munich coach who tried. Political Cartoons View All 1173 ImagesNagelsmann previously took over from Flick when he became Bayern coach in 2021 with Flick leaving to coach the national team. Germany national team sporting director Rudi Völler took over as interim coach and oversaw a morale-boosting 2-1 win over France in its next game. Völler, who was Germany coach from 2000-04, had made clear he only ever wanted to take over again on a temporary basis. Before coaching Bayern, Nagelsmann enjoyed success in charge of Leipzig and Hoffenheim, where he became the youngest coach in the Bundesliga in 2016.

Persons: —, Julian Nagelsmann, Nagelsmann, Otto Nerz, Hansi Flick, Flick, wasn’t, Joachim “ Jogi, Löw, Rudi Völler, Lothar Matthäus, Stefan Effenberg, Michael Ballack, Louis van Gaal, ___ Organizations: BERLIN, Bayern Munich, ”, Bayern, Bayern —, Germany, France, Hoffenheim, Bundesliga Locations: — Germany, German, Germany, Japan, Bavarian, United States, East Hartford , Connecticut, Mexico, Philadelphia, Austria, Vienna, Leipzig

☆ China is probing hedge funds that profit from its economic misery, report says
▼ + stars: | 2023-09-21 | by ( George Glover | ) www.businessinsider.com time to read: +2 min

China is scrutinizing hedge funds betting against its struggling economy, according to Reuters. Beijing has put the squeeze on brokerages that use quantitative strategies to short-sell the market, the outlet reported. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. That's dragged down Chinese stocks this year, with the flagship CSI 300 index down 5% and Hong Kong's Hang Seng index slumping 11% so far in 2023. As well as pushing back against these trading strategies, policymakers halved the stamp duty that investors are required to pay when trading stocks last month in a bid to revive China's stagnant markets.

Persons: That's Organizations: Reuters, CSI, Service, country's Securities, Commission, Financial Times Locations: China, Beijing, Wall, Silicon

The Vikings sent a 2026 conditional sixth-round draft pick to the Rams for Akers and a 2026 conditional seventh-round pick in the deal, which was pending Akers passing a physical. Vikings coach Kevin O'Connell, offensive coordinator Wes Phillips and quarterbacks coach Chris O'Hara were Rams assistants during Akers' first two years there. He was sent away from the team at midseason while the Rams tried to trade him. But after the Rams put the second-year player Williams ahead of him in the pecking order, they renewed their attempt to trade Akers. I think sometimes it boils down to, ‘All right, is it a fit?’” McVay said on Monday after confirming the Rams were again trying to deal Akers.

Persons: Cam Akers, Kyren Williams, Akers, Achilles, Kevin O'Connell, Wes Phillips, Chris O'Hara, Sony Michel, Sean McVay's, ” Akers, Williams, ” McVay, Dalvin Cook, Alexander Mattison, Ty Chandler, Myles Gaskin, O'Connell, Kirk Cousins, Justin Jefferson, ___ Organizations: Minnesota Vikings, Los Angeles Rams, Vikings, Rams, Akers, Florida State, Sony, NFL, Philadelphia Locations: EAGAN, Minn, Florida

☆ Rishi Sunak’s plans to delay climate targets attacked, as UK government pushes anti-green drive
▼ + stars: | 2023-09-20 | by ( Rob Picheta | ) edition.cnn.com time to read: +7 min

In an attack on his own Conservative predecessors as prime minister, Sunak said: “You don’t reach net zero simply by wishing it. The Climate Change Committee, the government’s independent adviser on climate change, published a report in June that criticized the UK’s net zero plans and said there was not enough urgency to reach the country’s goals. Britain is legally required to have reached net zero – meaning the country would remove from the atmosphere at least as much planet-warming pollution as it emits – by 2050. Johnson’s comments led a chorus of concerns from within Sunak’s Conservative party at the plans, which were apparently hurriedly brought forward after Tuesday’s leaks to the media. British businesses also criticized Sunak’s plans on Wednesday.

Persons: Rishi Sunak, Sunak, ” Boris Johnson, ” Johnson, ”, Dan Kitwood, pushback Sunak, “ We’ve, ” Sunak, “, … I’ve, Alok Sharma, ” Sharma, Chris Skidmore, Rob Picheta, Mike Childs, Sunak’s, Lisa Brankin, Ed Matthew, ” “ Organizations: London CNN, United, Conservative, Labour, “, Sunak’s Conservative, BBC, PA Media, London's Labour, CNN, Ambition, UN, Ford, European Union Locations: Britain, United Kingdom, Glasgow, Sunak’s, London, Uxbridge, South Ruislip, New York, United States, China

☆ Instacart closes up 12% in Nasdaq debut, after first-day rally sputters
▼ + stars: | 2023-09-19 | by ( Ari Levy | ) www.cnbc.com time to read: +4 min

Instacart shares rose 12% in their Nasdaq debut on Tuesday after the grocery delivery company's long-awaited IPO. The stock initially popped 40% to open at $42, but closed at $33.70 as investors locked in their initial gains. At $11.2 billion, Instacart is valued at about 3.9 times annual revenue. Food delivery provider DoorDash , which Instacart named as a competitor in its prospectus, trades at 4.1 times revenue. Uber's stock trades for less than three times revenue.

Persons: Instacart, Andreessen Horowitz, Rowe Price, company's Uber, Fidji Simo, CNBC's Deirdre Bosa, It's, Brandon Leonardo, Maxwell Mullen, Apoorva Mehta Organizations: Nasdaq, Software, Kroger, Costco, Sequoia, Fidelity, Target, Walmart Locations: Tuesday's, U.S, Amazon

☆ AI-Driven Cataclysm Could Rock the Job Market: Top Economist
▼ + stars: | 2023-09-18 | by ( Aki Ito | ) www.businessinsider.com time to read: +33 min

Over the course of three conversations this summer, Acemoglu told me he's worried we're currently hurtling down a road that will end in catastrophe. "There's a fair likelihood that if we don't do a course correction, we're going to have a truly two-tier system," Acemoglu told me. "I was following the canon of economic models, and in all of these models, technological change is the main mover of GDP per capita and wages," Acemoglu told me. In later empirical work, Acemoglu and Restrepo showed that that was exactly what had happened. "I realize this is a very, very tall order," Acemoglu told me.

Persons: who's, Katya Klinova, Daron Acemoglu, Simon Johnson, Acemoglu, Johnson, we've, he's, we're, Power, James Robinson, —, Robinson, David Autor, Pascual Restrepo, Restrepo, John Maynard Keynes, Simon Simard, Lord Byron, Eric Van Den Brulle, hasn't, it's, Gita Gopinath, Paul Romer, Romer, What's, Daron, GPT, Asu Ozdaglar, It's, Mark Madeo, Tattong, Erik Brynjolfsson, Brynjolfsson, There's, Yoshua Bengio, Yuval Noah Harari, Andrew Yang, Elon Musk, I've, That's, Aki Ito Organizations: Getty, MIT, of Technology, Hulton, London School of Economics, Stagecoach, Technology, —, International Monetary Fund, Microsoft, Asu, Companies, Computer, Greenpeace, Communications, Big Tech, Workers Locations: Silicon Valley, America, Boston, Istanbul, Turkey, Acemoglu, England, United States, Britain, Australia

Brazil's President Luiz Inacio Lula da Silva speaks during a press conference at a hotel after the G20 Summit, in New Delhi, India, September 11, 2023. In part, that reflects the choppier waters the 77-year-old Brazilian leader now navigates, as Beijing and Washington flirt with a new Cold War while war rages in Ukraine. Even before he took office, Lula was greeted like a rock star last November at the U.N. climate change conference in Egypt. The closer ties to Beijing could complicate Brazil's relationship with Washington, including access to key technology, Shannon added. "Brazil is rapidly wasting its soft power by trying to be an international player with an outdated agenda," he said.

Persons: Luiz Inacio Lula da Silva, Anushree, Pope, Jair Bolsonaro's, Lula, Oliver Stuenkel, Joe Biden, Vladimir Putin, Thomas Shannon, Porter, Shannon, Nicolas Maduro, Gabriel Boric, Rubens Barbosa, Putin, Maduro, Anthony Boadle, Brad Haynes, Paul Simao Organizations: REUTERS, Rights, United Nations General Assembly, U.S, General Assembly, Amazon, International Criminal Court, ICC, Arnold, Security, Mercosur, Venezuelan, Foreign Ministry, South, Thomson Locations: New Delhi, India, Rights BRASILIA, Brazil, China, Beijing, Washington, Ukraine, Sao Paulo, Egypt, U.S, Rio de Janeiro, Russia, South Africa, Shannon, Nicaragua, Venezuela, Brasilia, Brazilian, London, South American

☆ Sainz wins thrilling Singapore Grand Prix as Verstappen and Red Bull’s streaks end
▼ + stars: | 2023-09-17 | by ( ) www.cnbc.com time to read: +3 min

Carlos Sainz of Spain driving the (55) Ferrari SF-23 after his pit stop during the F1 Grand Prix of Singapore at Marina Bay Street Circuit on September 17, 2023 in Singapore, Singapore. Runaway standings leader Max Verstappen's winning run ended at 10 races and Red Bull's at 15 — both F1 records — as Carlos Sainz Jr. won the Singapore Grand Prix for Ferrari on Sunday. Red Bull dreamed of winning every race this year but had Verstappen fifth and Perez eighth after struggling all weekend in Singapore. That was the best feeling," Sainz said after celebrating with his team as fireworks lit up the Singapore circuit. Leclerc was fourth after failing to hold off the Mercedes cars on older tires, ahead of Verstappen in fifth.

Persons: Carlos Sainz, Ferrari, Qian Jun, Max Verstappen's, Carlos Sainz Jr, Red Bull, Perez, Sainz, McLaren's Lando Norris, Mercedes, Lewis Hamilton, George Russell, Norris, Carlos, Russell, Ferrari's Charles Leclerc, couldn't, Hamilton, Leclerc, Verstappen, Pierre Gasly, Oscar Piastri, Liam Lawson, Daniel Ricciardo, Kevin Magnussen, Haas, Aston Martin, Fernando Alonso, Lance, didn't Organizations: of Singapore, Marina, Circuit, Red Bulls, Bull's, Singapore, Prix, Ferrari, Sunday, McLaren, DRS, Alpine, AlphaTauri Locations: Spain, Singapore, Hamilton, Verstappen

☆ NFL Week 2: How to watch and Sunday’s top picks
▼ + stars: | 2023-09-17 | by ( Hannah Brewitt | ) edition.cnn.com time to read: +6 min

CNN —The NFL season is in full swing. After an opening week filled with both excitement and disappointment, Week 2 began on Thursday with the Philadelphia Eagles’ victory over the Minnesota Vikings. Cincinnati Bengals quarterback Joe Burrow, left, is hit by Cleveland Browns safety Grant Delpit on September 10, 2023 in Cleveland. The Monday Night Football double-feature is the first of three this season, occurring again in Week 3 and Week 14. Australia: NFL+, ESPN, 7PlusBrazil: NFL+, ESPNCanada: NFL+, CTV, TSN, RDSGermany: NFL+, ProSieben MAXX, DAZNMexico: NFL+, TUDN, ESPN, Fox Sports, Sky SportsUK: NFL+, Sky Sports, ITV, Channel 5US: NFL+, CBS, NBC, FOX, ESPN, Amazon Prime

Persons: Joe Burrow’s, Lamar Jackon’s, – Burrow, Joe Burrow, Grant Delpit, Sue Ogrocki, Marlon Humphrey, Marcus Williams, Ronnie Stanley, Tyler Linderbaum, Stanley, Linderbaum, Andy Reid, Travis Kelce, Chris Jones, Kelce, Jones, Doug Pederson, Trevor Lawrence, Lawrence’s, Calvin Ridley, Aaron Rodgers, Michael Owens, Micah Parsons, DeMarcus Lawrence, Zach Wilson’s, Rodgers, Wilson, Daniel Jones, ProSieben MAXX Organizations: CNN, NFL, Philadelphia Eagles, Minnesota Vikings, Baltimore Ravens, Cincinnati Bengals, CBS, AFC, Joe Burrow’s Bengals, Lamar, Lamar Jackon’s Ravens, Ravens, Bengals, Cleveland Browns, Pittsburgh Steelers, Dallas Cowboys, Kansas City Chiefs @ Jacksonville Jaguars, Super Bowl, Chiefs, Kansas City, AFC Divisional, Jaguars, Lions, Jacksonville, . New York Jets, New York Jets, Jets, Cowboys, Dallas, New York Giants, Sunday, Giants, ESPN, Pittsburgh, ABC, Green Bay Packers, Atlanta Falcons, Vegas Raiders, Buffalo Bills, Seattle Seahawks, Detroit Lions, Indianapolis Colts, Houston Texans, Jacksonville Jaguars, Chicago Bears, Tampa Bay Buccaneers, Angeles @ Tennessee Titans, Arizona Cardinals, San Francisco 49ers, Los Angeles Rams, Washington, Denver Broncos, Miami Dolphins, New England Patriots, New Orleans Saints, Carolina Panthers, 7Plus, ESPN Canada, CTV, TSN, RDS, DAZN, Fox Sports, Sky Sports UK, Sky Sports, ITV, Channel, NBC, FOX, Amazon Locations: Cincinnati, Cleveland, Baltimore, Kansas, Jacksonville, ., Texas, New Orleans, Carolina, Australia, 7Plus Brazil, RDS Germany, DAZN Mexico

☆ These are the 11 sectors that comprise the S&P 500 — and the stocks we own in each
▼ + stars: | 2023-09-17 | by ( Paulina Likos | ) www.cnbc.com time to read: +28 min

.GSPF YTD mountain S & P 500 Financials Sector YTD performance Club stocks in the Financials sector: Morgan Stanley ( MS): The bank's services include investment banking, wealth management and investment management. Communication Services Sector market weight: 8.85% Market cap: $3.3 trillion YTD performance: up 44.5% Industries: Diversified telecommunication services; entertainment; interactive media & services; media; wireless telecommunication services. .GSPTS YTD mountain S & P 500 Communication Services Sector YTD performance Club stocks in the Communication Services sector: Walt Disney (DIS): The entertainment giant reported another mixed quarter last month, even against low expectations. Real estate Sector market weight: 2.44% Market cap: $909 billion YTD performance: up 0.9% Industries: Equity real estate investment trusts; real estate management & development. .SPLRCR YTD mountain S & P 500 Real Estate Sector YTD performance While we don't own any real estate stocks, investors have historically invested in the sector for its reliable cash flow from income-generating properties.

Persons: Jim Cramer's, Jim, Salesforce, reenergized, Marc Benioff, Wolfe, Palo, Eli Lilly, Cantor Fitzgerald, Bausch, bioprocessing, Morgan Stanley, Morgan Stanley's, Eaton Vance, Wells Fargo, Wells, TJX, Wynn, Locker, We've, Mary Dillon, Walt Disney, Bob Iger's, Emerson, Davidson, Vimal Kapur, Stanley Black, Decker, Estee Lauder, Gillette —, Elliott, Coterra, Linde, Jim Cramer, Mandel Ngan Organizations: Jim Cramer's Charitable Trust, CNBC, Club, Technology Sector, Industries, Communications, Technology, Information Technology, Apple, Wedbush Securities, Microsoft, UBS, Deutsche Bank, Nvidia, Broadcom, VMware, Palo Alto Networks, Wolfe Research, Palo Alto, Oracle, Mizuho, Amazon Web Services, Google, Health Care, Biotechnology, Health, Bausch Health, Leerink Partners, GE Healthcare Technologies, General Electric, GE, Financials, Bank of America, United Auto Workers, Detroit, Ford, Starbucks, TJX, Marshalls, Wynn Resorts, WYNN, Communication Services, Communication, Hollywood, Charter Communications, Disney, JMP Securities, Facebook, Industrials, Aerospace, Emerson, Caterpillar, Honeywell, Consumer Staples Sector, Consumer, Consumer Staples, Costco Wholesale, Procter & Gamble, Gillette, Constellation Brands, Corona, Modelo, Pacifico, Elliott Management, Energy Sector, Energy, Coterra Energy, Natural Resources, West Texas, Utilities Sector, Electric, Companies, Sempra Energy, Materials, Chemicals, Linde, LIN, DuPont, Sector, Equity, Real, Jim Cramer's Charitable, New York Stock Exchange, AFP, Getty Locations: U.S, FactSet, bioprocessing, Wells Fargo, China, Maxx, Macao, Asia, Pacifico —, California, Texas

Jalen Hurts and the Philadelphia Eagles host Kirk Cousins and the Minnesota Vikings in their home opener in prime time for the second straight season. Philadelphia overpowered the Vikings on both sides of the ball in a convincing 24-7 victory on Monday night in Week 2 last season. Hurts threw for 333 yards, the offense racked up 486 yards and the defense held Minnesota to 264 yards. The Patriots (0-1) stifled Jalen Hurts and Philadelphia’s dynamic offense and would’ve won if the offense wasn’t inept. Against spread: 0-1.

Persons: Kirk Cousins, Baker Mayfield, Cousins, FanDuel, That’s, Brock Purdy, Matthew Stafford, Tom Brady, Mayfield, Justin Fields, Aaron Rodgers, Jordan Love, Bijan Robinson, Tyler Allgeier, Detroit Jared Goff, Travis Kelce, Chris Jones, Buffalo Josh Allen’s, Zach Wilson, Jimmy Garoppolo, Justin Herbert, Brandon Staley’s, can’t, they’ve, Houston Anthony Richardson, C.J ., Cincinnati Lamar Jackson, Joe Burrow, Jacksonville Doug Pederson, Andy Reid, Patrick Mahomes, Dak, Denver Russell Wilson, Sean Payton, Tua Tagovailoa, would’ve, Carolina Bryce Young, He’s, Mike Tomlin, Kenny Pickett, Myles Garrett, ___ Organizations: Philadelphia Eagles, Minnesota Vikings, Philly, Eagles, Lincoln Financial, Kansas City, Super, NFC, Vikings, Tampa Bay Buccaneers, Philadelphia, Minnesota, EAGLES, Francisco, Los Angeles Rams, 49ers, Pittsburgh, Rams, BEST BET, 49ERS, Buccaneers, Bucs, Bears, Atlanta, Packers, Chicago, The Falcons, PACKERS, Seattle, Detroit, Lions, Super Bowl, Chiefs, The Seahawks, LIONS, Vegas, Buffalo, Jets, Bills, Raiders, Los Angeles Chargers, Tennessee L.A, Miami, The Titans, CHARGERS, Indianapolis, Houston, Colts, C.J, Texans, TEXANS, Cincinnati, Ravens, Bengals, BENGALS, Jacksonville, Jaguars, CHIEFS, New York Giants, Cowboys, Giants, Cardinals, San, GIANTS, New York Jets, Dallas Reality, The Cowboys, COWBOYS, Denver, Broncos, Arizona . BRONCOS, Dolphins, Patriots, DOLPHINS, Carolina, Cleveland, Pittsburgh The Browns, Steelers, Co, BROWNS Locations: New England, Minnesota, Chicago, Denver, Tennessee, C.J . Stroud, Baltimore, Arizona, San Francisco, Dak Prescott, Washington, Miami, New, Orleans, Pittsburgh

Workers walk through the Canary Wharf financial district, ahead of a Bank of England decision on interest rate changes, in London, Britain, August 3, 2023. The unemployment rate rose, the number of people in work fell sharply and vacancies dipped below 1 million for the first time in two years, the Office for National Statistics (ONS) said on Tuesday. Yet if incoming data doesn't turn definitively, another hike to a terminal rate of 5.75% is absolutely on the table." The unemployment rate rose to 4.3% in the three months to July from 4.2% a month earlier, its highest since the three months to the end of September 2021, the ONS said. Including bonuses, pay rose by 8.5% compared with the 8.2% consensus, boosted in part by backdated pay for healthcare workers.

Persons: Toby Melville, BoE, Hugh Gimber, they've, Andrew Bailey, Jeremy Hunt, Andy Bruce, David Milliken, Sachin Ravikumar, David Holmes Organizations: Bank of, REUTERS, Bank of England, National Statistics, Morgan Asset Management, Thomson Locations: Bank of England, London, Britain

☆ Should I Ditch Bonds for Money-Market Funds or CDs?
▼ + stars: | 2023-09-11 | by ( Steve Garmhausen | ) www.wsj.com time to read: +5 min

By Steve GarmhausenIs it reasonable or even wise to shift some of your bond allocation to money-market funds paying over 5%? The broad bond market had its worst year ever in 2022, as reflected by the AGG—the iShares Core U.S. Bonds vs. money-market fundsSo should you really sell bonds and use the proceeds to buy these products? Bonds have also performed better historically than the “cash” category, which includes money-market funds. Money-market funds are considered a low-risk investment, and one that’s easy to sell if you need cash.

Persons: Steve Garmhausen, Bonds, Amita Desai, ”, Adrianne Yamaki, Brent Weiss, Aswath Damodaran, Weiss, you’ve, Yamaki Organizations: Aggregate, Federal Reserve, Money Market Fund, Treasury, New York University Locations: Demarest, N.J, San Francisco, Baltimore, “, New Jersey

☆ A fund manager beating 99% of his peers over the last 10 years shares 2 'historically' cheap trades to make right now as high stock valuations set the market up for years of dismal returns
▼ + stars: | 2023-09-07 | by ( William Edwards | ) www.businessinsider.com time to read: +3 min

In a client note, Faber said he likes US value and international value stocks. A few exchange-traded funds that offer exposure to value stocks include the Vanguard Value ETF (VTV), the iShares Russell Mid-Cap Value ETF (IWS), and the Dimensional US Marketwide Value ETF (DFUV). But an arguably better opportunity lies outside of the US stock market in international value stocks, he said. But the discrepancy, like in the US, between international value stocks and all other international stocks is also at "historically wide levels," Faber said. Cambria FundsInvestors can gain exposure to international value stocks through funds like the iShares MSCI EAFE Value ETF (EFV), the Avantis International Large Cap Value ETF (AVIV), and the Dimensional International Value ETF (DFIV).

Persons: Meb Faber, Faber, Cambria Investment Management's Meb Faber, Russell, Faber's, they're Organizations: Nvidia, Cambria Investment, Morningstar, Vanguard Value, Value Locations: GuruFocus, Cambria

Some of them, like “Dune: Part Two," have been postponed until next year due to the ongoing actors and writers strikes. Gillespie’s film features a freewheeling ensemble including Pete Davidson, Anthony Ramos, Seth Rogen, Shailene Woodley, America Ferrera and Nick Offerman. “Fair Play” (in theaters Sept. 29, on Netflix Oct. 13)Hedge funds also play a role in writer-director Chloe Domont’s drama about sexual politics and gender dynamics in the high-charged, male-dominated world of finance. Eight years after the last “Hunger Games” movie (“Mockingjay – Part 2”) a prequel is returning to the science fiction dystopia of Panem. Francis Lawrence’s film, set 64 years before the events of the first “Hunger Games” film, introduces a host of new characters in the lead-up to the 10th Hunger Games.

Persons: ”, Expendables, Gael García Bernal, Roger Ross Williams, Saúl Armendáriz, Williams, Bunny, Craig Gillespie’s, ” Paul Dano, Keith Gill, Pete Davidson, Anthony Ramos, Seth Rogen, Shailene, America Ferrera, Nick Offerman, Chloe Domont’s, Phoebe Dynevor, Alden Ehrenreich, Aristotle, Dante, “ El Conde ”, Flora, Son ”, Henry Sugar ”, “ Carlos ”, “ Dicks, Justine Triet’s, Palme, Sandra Hüller, Martin Scorsese’s, David Grann's, Lily Gladstone, Scorsese, Leonardo DiCaprio, Robert De Niro, Robbie Robertson, Baz Luhrmann’s, Elvis Presley, Sofia Coppola, Priscilla Presley, “ Elvis, ” Jacob Elordi, “ Joan Baez, “ Taylor Swift, Nyad, “ Rustin ”, Colman Domingo, Bayard Rustin, George C, Martin Luther King Jr, Panem, Francis Lawrence’s, Tom Blyth, Rachel Zegler, Peter Dinklage, Viola Davis, ” Ridley Scott, Joaquin Phoenix, Napoleon Bonaparte, Vanessa Kirby, Joséphine Bonaparte, Sly ”, “ Orlando, Maestro ”, “ Leo ” Organizations: GameStop, America, Netflix, Sundance Film, Paramount, Apple, Cannes Film, Hüller, Hunger Locations: Shailene Woodley, Venice, Osage, Washington

☆ A China fund from Fidelity is beating the crowd. How it plans to keep doing it
▼ + stars: | 2023-09-03 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

Fidelity's China Focus Fund is setting up for another year of outperformance, after ranking first last year among China equity funds tracked by Morningstar. With minimal losses of 0.66% for the year as of Aug. 31, the China Focus Fund has held up far better than the China equity category's decline of 9.45% during that time, according to Morningstar. The China Focus Fund is a "value contrarian strategy," said Catherine Yeung, a Hong Kong-based investment director focused on equities at Fidelity International. Consumer discretionary is the largest sector within the China Focus Fund's holdings, at about one-fourth of the names. Fidelity also has a dedicated China Consumer Fund, which is down by 8.75% year-to-date, only slightly better than its peers, according to Morningstar.

Persons: outperformance, Morningstar, Catherine Yeung, Yeung, hasn't, it's Organizations: Fund, Morningstar, China Focus, China, Fidelity International, CNBC, China Focus Fund, Galaxy Entertainment, Fidelity, China Consumer Fund Locations: China, Hong Kong, expansionary, Macau

Excluding volatile food and energy components, the core PCE price index rose 4.2% in July, year-on-year, also in line with estimates. Salesforce (CRM.N) rallied following upbeat revenue forecasts from the cloud-based software provider as it benefits from price hikes and a resilient demand. The data follows smaller-than-expected growth in private payrolls on Wednesday that signaled a softening labor market and drove the S&P 500 to a three-week closing high. All three main indexes posted losses for August, with the S&P 500 and Nasdaq logging their first monthly declines since February. Reuters GraphicsUnofficially, the S&P 500 declined 0.16% to end the session at 4,507.54 points.

Persons: Brendan McDermid, Salesforce, Jake Dollarhide, Shristi Achar, Noel Randewich, Vinay Dwivedi, Richard Chang Organizations: New York Stock Exchange, REUTERS, Nasdaq, Commerce Department, Traders, Investors, Longbow, Management, Labor Department, Reuters Graphics, Dow Jones, Baidu, Thomson Locations: New York City, U.S, Tulsa , Oklahoma, payrolls, Dismal, China, Bengaluru, Oakland , California

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 29, 2023. The Commerce Department report showed the Personal Consumption Expenditures (PCE) price index, considered to be the Fed's preferred inflation gauge, climbed 3.3% in July on an annual basis, meeting expectations of a 3.3% rise. Excluding volatile food and energy components, the core PCE price index rose 4.2% in July, year-on-year, also in line with estimates. Investors are now awaiting the more comprehensive non-farm payrolls data due on Friday for more clarity on the Fed's likely monetary path. Dismal manufacturing data from China sent U.S.-listed shares of Chinese companies JD.com and Baidu down 3.1% and 1.8%, respectively.

Persons: Brendan McDermid, we've, Tony Roth, Shristi Achar, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Commerce Department, Traders, Wilmington Trust, Dow Jones, Baidu, NYSE, Thomson Locations: New York City, U.S, Wilmington, payrolls, China, Bengaluru

☆ The Chinese property market may look like it's imploding. But one expert doesn't think it'll cause a financial crisis — and there may even be a bright spot.
▼ + stars: | 2023-08-31 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

China's property troubles may slow the economy down, Nicholas Lardy, a China economy expert, told CNN. However, the issues will not create a financial crisis, he added. Even so, one Chinese economy expert thinks the crisis is unlikely to spill over into the broader economy. Advertisement Advertisement Watch: Ken Rogoff on the next financial crisis and the future of bitcoinChina's property sector has been gripped in a crisis since 2021 when property giant Evergrande ran into a liquidity crisis. The market was so hot that Chinese developers were taking on massive borrowings to build apartments ahead of demand.

Persons: Nicholas Lardy, it's, Ken Rogoff, Evergrande, Lardy, Lina Batarags Organizations: CNN, Service, Peterson Institute for International Economics Locations: China, Wall, Silicon

☆ Morgan Stanley's Slimmon says the S&P 500 will near 5,000 by year-end — and names 3 stocks to buy
▼ + stars: | 2023-08-30 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

Morgan Stanley Investment Management's Andrew Slimmon believes markets are set for a "strong rally" by the end of the year. He told CNBC's " Street Signs Asia " on Tuesday that he believes the S & P 500 will be "closer" to 5,000 by then. Stock picks Slimmon is positive on three stocks to buy right now: Alphabet , industrial equipment rental firm United Rentals , and building materials firm CRH . As for United Rentals and CRH, Slimmon said they're set to benefit from the increased spending on public works. Analysts covering United Rentals and CRH give them potential average upside of 10% and nearly 18%, respectively, according to FactSet.

Persons: Morgan Stanley, Andrew Slimmon, CNBC's, Slimmon, It's, haven't, Stock, they've, they're, –, — CNBC's Michael Bloom Organizations: Morgan Stanley Investment, United Rentals, Apple, Microsoft, Nvidia, Tesla Locations: Monday's

☆ Consumer spending in China bounced back in August, survey finds
▼ + stars: | 2023-08-30 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

Larger-than-life roses are on display in Nanjing, Jiangsu province of China, on Aug. 21, 2023, one day before the Qixi Festival. Vcg | Visual China Group | Getty ImagesBEIJING — Consumer spending bounced back in August after a tepid July, according to the China Beige Book's survey of Chinese businesses released Thursday. That's based on a survey conducted Aug. 17 to 25 of 1,300 businesses, the majority of which were not state owned. The China Beige Book survey also found that corporate borrowing surged as cost of capital declined. Another business survey released in mid-August, the CKGSB Business Conditions Index, reported a 50.9 print for July, a touch above the 50.02 figure recorded for June.

Persons: That's, Nomura Organizations: Visual China, Getty, Consumer, National Bureau of Statistics, Services, JL Warren Capital, Louis Vuitton, National Bureau, Statistics Locations: Nanjing, Jiangsu, China, BEIJING

Bitcoins are seen in this illustration picture taken September 27, 2017. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsLONDON, Aug 29 (Reuters) - Bitcoin's gains from a U.S. court ruling that bolsters future prospects for retail investor-friendly funds have rescued the original cryptocurrency from a dismal month, offering new optimism over its longer-term outlook. The win for Grayscale is likely to now factor into the SEC's future decisions for spot bitcoin ETFs filed by several major financial firms this year, including the world's largest asset manager BlackRock (BLK.N), investors said. Any advent of spot bitcoin ETFs could help the crypto industry tap a glut of previously untapped retail investor cash, in turn bolstering the price of bitcoin. Still, bitcoin's prospects remain tied to the performance of wider markets, some investors said.

Persons: Dado Ruvic, bitcoin, Noelle Acheson, Crypto, Anders Kvamme Jensen, Tom Wilson, Mike Harrison Organizations: REUTERS, Securities, Exchange, U.S, Treasury, BlackRock, BTC, Thomson

☆ Morning Bid: Jitters mount as Powell retakes centre stage
▼ + stars: | 2023-08-25 | by ( ) www.reuters.com time to read: +2 min

Any hints about the Fed's rate outlook are sure to reverberate across asset classes. Stock markets around the globe slid as nerves grew, with Wall Street taking a tumble overnight and Japan's Nikkei (.N225) dropping 2% in the Asian morning. Stoxx 50 futures didn't offer much hope for the coming day after Europe's benchmark (.STOXX) drooped on Thursday. The pristine U.S. resiliency story took a hit earlier this week after surveys showing dismal business activity shook confidence. Reuters GraphicsFed officials squeezed in some final public comments before the boss's speech: Philadelphia Fed President Patrick Harker leaned towards holding policy steady for the rest of the year, while Boston Fed President Susan Collins kept the door open for additional hikes.

Persons: Brigid Riley, Jerome Powell, Jackson, drooped, Patrick Harker, Susan Collins, Christine Lagarde, Kevin Buckland, Edmund Klamann Organizations: Silicon Valley Bank, Credit Suisse, REUTERS, Staff, Japan's Nikkei, Thursday, Fed, Reuters Graphics, Philadelphia Fed, Boston Fed, Thomson Locations: Frankfurt, Silicon, Germany, U.S, Sweden

☆ European markets cautious ahead of Powell's Jackson Hole speech; Watches of Switzerland down 26%
▼ + stars: | 2023-08-25 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

LONDON — European markets were muted on Friday morning as traders await signals from Federal Reserve officials on the likely path of monetary policy. The pan-European Stoxx 600 hovered around the flatline in early trade, with tech stocks shedding 0.4% while oil and gas shares added 0.6%. The continental blue chip index closed the Thursday session down 0.4%, as global momentum on the back of U.S. chipmaker Nvidia 's blowout earnings faded throughout the day. U.S. stock futures were little changed in early premarket trade on Friday, after Wall Street closed out a dismal regular trading session. Thursday marked the worst day for the Dow since March, while the S&P 500 and Nasdaq had their biggest one-day losses since Aug. 2.

Persons: Nvidia, Jerome Powell Organizations: Federal Reserve, Japan's Nikkei, Wall, Dow, Nasdaq Locations: U.S, Asia, Pacific

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