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☆ Israel's GDP contracts nearly 20% in fourth quarter amid Gaza war
▼ + stars: | 2024-02-20 | by ( Natasha Turak | ) www.cnbc.com time to read: +1 min

An Israeli national flag above produce for sale at Carmel Market in Tel Aviv, Israel, on Nov. 7, 2023. Israel's gross domestic product shrank nearly 20% in the fourth quarter of 2023, according to official figures. It reflects the toll of the country's war against Hamas in Gaza, now entering its fifth month. "The deep GDP contraction occurred despite a strong surge in public sector consumption as well as a positive net trade contribution, with the decline in imports outpacing the decline in exports." Before then, more than 150,000 Palestinian workers from the occupied West Bank entered Israel daily for work in a range of sectors, predominantly in construction and agriculture.

Persons: Goldman Sachs Organizations: Carmel, Goldman, West Bank, Israel Locations: Israeli, Tel Aviv, Israel, Gaza

☆ Premarket stocks: Joe Biden’s top economic adviser isn’t worried about the latest inflation data
▼ + stars: | 2024-02-20 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +9 min

New York CNN —US markets broke a five-week winning streak last Friday after disappointing inflation data reignited economic and interest rate-related fears on Wall Street. Then last week, two key inflation indicators for January — the Consumer Price Index and Producer Price Index — rose above Wall Street expectations. Richmond Fed President Thomas Barkin said the new data showed that the Fed needs more confidence before cutting rates. I think in this case, the market isn’t necessarily telling you much about the economy’s fundamentals, the market is telling you what other market participants think. And I think that those economic fundamentals get you to the part that says, you know, it’s not not the economy.

Persons: Price, Thomas Barkin, Raphael Bostic, isn’t, Bell, Jared Bernstein, Joe Biden, I’m, they’re, It’s, it’s, Joe Weisenthal, Elisabeth Buchwald, Hanna Ziady, Liam Peach, ” Peach Organizations: CNN Business, Bell, New York CNN, Federal Reserve, Richmond Fed, White House Council, Economic Advisers, CPI, Apple, Google, Nvidia, Microsoft, Capital, Discover Financial Services, Discover, Hamas, Gross, Israel’s, Bureau, Statistics, Capital Economics Locations: New York

☆ New home construction in the US plummeted to a 5-month low in January
▼ + stars: | 2024-02-20 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +2 min

Housing starts collapsed 14.8% month-over-month in January to a five-month low, according to Census Bureau data released Friday. The decline in new construction flies against the trends of strong and rising demand throughout 2023 and into this year. It also marks a reversal from a period of rising supply seen recently, with new housing starts jumping 14.8% last November. David Rosenberg, economist and president of Rosenberg Research, said in a note that it's hard to determine how much seasonal factors like inclement weather played a part in sending construction starts tumbling last month. Rosenberg added that a strong pipeline of multifamily construction will continue to impact the market for the foreseeable future.

Persons: David Rosenberg, West . Rosenberg Organizations: Business, Rosenberg Research Locations: Midwest, West

☆ The economy's gone from strength to strength after the pandemic — but no one quite knows why, or what comes next
▼ + stars: | 2024-02-20 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +8 min

America has gone from a pandemic crash and recession fears to stocks at record highs and an economic boom. Lockdowns, wars, shortages, inflation, interest rates, day trading, and AI have all played a role. Noam Galai/SOPA/Getty ImagesMany Americans also socked away money during the pandemic, as they saved on expenses like travel and live entertainment. Stimulus-fueled demand, combined with pandemic and war-related supply disruptions, caused inflation to spike to a 40-year high of 9.1% in June that year. The Fed swiftly raised interest rates to rein in the price growth, lifting them from virtually zero to upward of 5% in under 18 months, and hasn't touched them since.

Persons: —, We've, Noam Galai, hasn't, It's, dory Organizations: Service, Federal Reserve, GameStop, AMC Entertainment, AMC, Bank Locations: America, China, Ukraine

☆ Israel’s economy slumps in the fourth quarter as war takes a toll
▼ + stars: | 2024-02-19 | by ( Hanna Ziady | ) edition.cnn.com time to read: +2 min

London CNN —Israel’s output contracted sharply in the final three months of 2023, falling for the first time in nearly two years, as the war with Hamas takes a heavy toll on the economy. The conflict is expected to cost Israel around 255 billion shekels ($70.3 billion) by the end of 2025, equivalent to around 13% of GDP, according to the Bank of Israel. And earlier this month, Moody’s delivered Israel’s first ever credit rating downgrade, citing elevated political risk and deteriorating public finances stemming from the war. “Under a scenario of outright conflict… the negative economic impact would spread to more sectors and be longer-lasting,” Moody’s said. In 2023 as a whole, Israel’s economy grew 2%, according to the statistics office.

Persons: Liam Peach, ” Peach, Moody’s, Israel’s, ”, ” Moody’s, Ido Soen Organizations: London CNN, Hamas, Gross, Israel’s, Bureau, Statistics, Israel, Capital Economics, Bank of Israel Locations: Gaza, Israel, Lebanese

☆ Carl Icahn gets two seats on JetBlue’s board. Here’s how he may help build value
▼ + stars: | 2024-02-17 | by ( Kenneth Squire | ) www.cnbc.com time to read: +5 min

Activist Commentary: Carl Icahn is the grandfather of shareholder activism and a true pioneer of the strategy. While Carl Icahn is not slowing down at all, in October 2020, he reached an agreement with his son Brett Icahn to rejoin the firm as the eventual successor. Carl Icahn is the quintessential, iconic corporate governance investor. On Jan. 19, Carl Icahn started acquiring his position. On Feb. 12, her first day in her new post, she had a Carl Icahn 13D on her desk.

Persons: Carl Icahn, Brett Icahn, Brett, hasn't, Carl, Sargon, Joanna Geraghty, Carl Icahn 13D, Icahn, Robin Hayes, Geraghty, Hayes, Ken Squire Organizations: Apple, Netflix, Forest Labs, JetBlue, Spirit, Investors, U.S, Transportation Department, 13D Locations: Icahn, Delta, United

☆ Japan and the UK are in recessions. Is the US next?
▼ + stars: | 2024-02-16 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +4 min

New York CNN —And just like that, two of the world’s largest economies are in technical recessions. On Thursday, Japan and the UK both reported their second consecutive negative quarters of gross domestic product, fitting the widely agreed-upon definition of a recession. In 2022, the nation’s population declined by 800,000, marking the 14th consecutive year of contraction. In the UK, however, population and wage growth weren’t sufficient to stave off a drop in consumer spending, one of the main drivers of that economy. In the past two quarters, the nation’s economy experienced much higher than expected GDP growth, due in large part to robust consumer spending.

Persons: Paul Donovan, ” Donovan, Kazuhiro Nogi, ”, didn’t, Jerome Powell, “, it’s, there’s, Powell, Philipp Carlsson, doesn’t, “ it’s, Carlsson Organizations: New, New York CNN, UBS Global Wealth Management, Getty, National Bureau of Economic Research, don’t, US Federal Reserve, Boston Consulting Locations: New York, Japan, Germany, AFP, Ukraine

☆ Toast will lay off 10% of its workforce, about 550 employees, as growth slows
▼ + stars: | 2024-02-15 | by ( Jordan Novet | ) www.cnbc.com time to read: +2 min

A screen displays the company logo for Toast Inc. during the company’s IPO at the New York Stock Exchange (NYSE) in New York City, U.S., September 22, 2021. Toast , maker of restaurant management software, said on Thursday it will let go of 550 employees, about 10% of its workforce. Its net loss of $36 million narrowed from $99 million in the year-ago quarter. Gross payment volume, at $33.70 billion, was up 32%, higher than the $33.53 billion consensus among analysts surveyed by StreetAccount. Under Comparato's leadership last summer, Toast started charging a fee of 99 cents for each online order that totaled more than $10.

Persons: Aman Narang, Toast's, Chris Comparato, Toast, Narang, Jim Cramer Organizations: Toast Inc, New York Stock Exchange, LSEG, Bank of America, StreetAccount Locations: New York City, U.S, Shift4

☆ Japan is no longer the world's third-largest economy as it slips into recession
▼ + stars: | 2024-02-15 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Japan has lost its spot as the world's third-largest economy to Germany, as the Asian giant unexpectedly slipped into recession. Fourth quarter GDP sharply missed forecasts for a 1.4% growth in a Reuters poll of economists. On a quarter-on-quarter basis, GDP slipped 0.1%, compared with a 0.3% rise expected in the Reuters poll. Germany, on the other hand, saw its nominal GDP grow 6.3% to reach 4.12 trillion euros, or $4.46 trillion based on last year's average exchange rate. Nominal GDP measures the value of output in current dollars, without adjusting for inflation.

Organizations: Nikkei, Bank of Locations: Tokyo, Japan, Germany, Bank of Japan

☆ Picking the right covered call strategy to generate income on the stocks you own
▼ + stars: | 2024-02-15 | by ( Michael Khouw | ) www.cnbc.com time to read: +10 min

Selling covered calls is a popular options trading strategy, especially among investors looking to generate additional income from their stock holdings. Like any investment strategy, selling covered calls comes with its own set of risks and benefits. The benefits Income generation: The primary benefit of selling covered calls is the ability to generate income on your stock holdings. Candidates for selling covered calls Stocks with moderate growth expectations: Stocks that are expected to grow steadily but not explosively are good candidates. I prefer to sell covered calls only in companies that are investment grade (S & P rating of BBB- or better), and of course, for the most part, avoiding selling covered calls through earnings.

Persons: Eli Lilly & Organizations: Micron, Eli Lilly & Company, Diabetes, Micron Technologies Locations: Downside

☆ Japan’s Economy Slips Into Recession and to No. 4 in Global Ranking
▼ + stars: | 2024-02-15 | by ( Hisako Ueno | Daisuke Wakabayashi | ) www.nytimes.com time to read: 1 min

The Japanese economy contracted at the end of last year, defying expectations for modest growth and pushing the country into a recession. Japan’s unexpectedly weak economy in the fourth quarter was the result of a slowdown in spending by businesses and consumers who are grappling with inflation at four-decade highs, a weak yen and climbing food prices. The end of the year also marked a moment that had been expected: Japan’s economy, now slightly smaller than Germany’s, fell one notch to become the world’s fourth-largest economy. On an annualized basis, gross domestic product fell 0.4 percent in October through December after a revised 3.3 percent decline in the previous three-month period. Economists had been forecasting fourth-quarter growth of around 1 percent.

☆ Japan's economy unexpectedly contracted in the fourth quarter of 2023
▼ + stars: | 2024-02-15 | by ( Clement Tan | In Clemtan | ) www.cnbc.com time to read: 1 min

An editorial picture of the Japan flag set against an economic trend graph and images associated with the stock market, finance and digital technology. Japan's economy unexpectedly contracted again in the October-December period, provisional government data showed Thursday. Provisional gross domestic product contracted 0.4% in the fourth quarter compared with a year ago, after contracting 2.9% in the July-September period. The GDP deflator in the fourth quarter stood at 3.8% on an annualized basis. The world's third-largest economy also contracted 0.1% in the fourth quarter from the previous quarter, after contracting 0.4% in the third quarter from the second.

Organizations: Provisional Locations: Japan

☆ Deflation: Here's where prices fell in January 2024, in one chart
▼ + stars: | 2024-02-14 | by ( Greg Iacurci | ) www.cnbc.com time to read: +6 min

These are the big deflationary factors"A lot of factors have come together to push goods prices down," said Mark Zandi, chief economist at Moody's Analytics. In addition to normalizing supply-demand dynamics, a historically strong U.S. dollar relative to other global currencies has also helped rein in goods prices, Zandi said. Falling energy prices have also put downward pressure on goods prices, due to lower transportation and energy-intensive manufacturing costs, economists said. Lower energy prices also put downward pressure on the transportation of food to store shelves. Consumers get more for roughly the same amount of money, which shows up as a price decline in the CPI data.

Persons: RC Willey, George Frey, Jay Bryson, there's, Mark Zandi, Zandi, rebalancing, J.P, Hopper Organizations: RC, Bloomberg, Getty, U.S . Bureau of Labor Statistics, Wells, Wells Fargo Economics, Moody's, U.S . Federal, Services, Finance, Morgan's, Investment, Group, of Labor Statistics Locations: Draper , Utah, Wells Fargo, U.S, Salinas, California

☆ 5 reasons to own Costco despite premium valuation and near record high stock price
▼ + stars: | 2024-02-14 | by ( Paulina Likos | ) www.cnbc.com time to read: +6 min

BMO Capital Markets increased its Costco price target to $770 per share from $700 and kept its buy-equivalent outperform rating on the stock. After last week's release of solid January sales, Costco got a slew of price target raises. COST YTD mountain COST stock price year to date. Costco shares are high in price and also expensive on a valuation basis. Costco stock caught a series of analyst price target increases following last week's strong sales report for the retail month of January.

Persons: Rich Galanti, Gary Millerchip, Galanti, Costco's, Jim Cramer's, Jim Cramer, Jim Organizations: Costco, BMO Capital Markets, BMO, Walmart, Target, Analysts, Gold, UBS, CNBC, Kroger Locations: U.S, Canada, Mexico, North America, United States, South America, China, Shanghai

☆ Japan’s economy slips into recession due to weak consumer spending
▼ + stars: | 2024-02-14 | by ( Hanako Montgomery | ) edition.cnn.com time to read: 1 min

Tokyo CNN —Japan’s economy has contracted unexpectedly because of weak domestic consumption, pushing the country into recession and causing it to lose its position as the world’s third largest economy to Germany. Gross domestic product shrank at an annualized pace of 0.4% in the last three months of 2023, the Cabinet Office said on Thursday. It was the second consecutive quarter of negative growth. Private consumption — which accounts for half of the economy — declined by 0.2%, as Japanese consumers battled higher prices for food, fuel and other goods. This is a developing story and will be updated.

Organizations: Tokyo CNN, Gross Locations: Germany

☆ Corporate borrowers are coming under stress even as the rest of the economy looks strong, top Apollo exec says
▼ + stars: | 2024-02-13 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +2 min

There are "pockets of stress" within an otherwise strong US economy, Apollo's co-president Jim Zelter said. Many corporate borrowers are grappling with high debt and a slow recovery from the pandemic. AdvertisementCorporate borrowers represent "pockets of stress" within an otherwise robust economy, according to Apollo Global Management co-president Jim Zelter. A string of strong economic indicators has been released in recent weeks. The conundrum for investors has been that strong economic data pushes back on expectations for rate cuts in the near-term.

Persons: Jim Zelter, Zelter, —, there's, it's Organizations: Service, Apollo Global Management, Bloomberg, Fed

☆ Bank of America says try the 'Magnificent 80' portfolio instead as income investing comes back into favor
▼ + stars: | 2024-02-13 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

The narrow stock market rally could broaden out beyond megacap tech, and investors should target the "Magnificent 80" stocks, according to Bank of America's Savita Subramanian. Both are key reasons Subramanian sees the market rally broadening, alongside an expected spike in volatility tied to the U.S. election and Federal Reserve interest rate cuts. To play the expected widening market rally, Subramanian points toward the so-called "Magnificent 80" stocks, which are composed largely of companies with strong fundamentals. These names, which Bank of America screened for, have higher equity income potential than cash, touting competitive dividend yields. Here are a few of those Magnificent 80 companies that are rated buy by Bank of America.

Persons: Bank of America's Savita Subramanian, Subramanian, Philip Morris Organizations: Bank of America's, Microsoft, Nvidia, Tesla, Federal, Bank of America, Ford, Bank, America's, Wall, Chevron, Truist

Still, that is considerably below where inflation was in 2022 and much of last year. Along with the health of the labor market, the Fed considers inflation among the key economic data points to watch as it looks to start cutting interest rates this year. “If inflation comes in below expectation, the markets will cheer the welcome news that the economy and the job market can remain solid without increasing inflation. On Friday, more inflation data will be released with the January producer price index – a measure of what businesses pay for the products and services they sell. The PPI is often a predictor of future inflation as it shows prices that are early in the pipeline and often passed on to consumers.

Persons: ”, Skyler Weinand, Regan, Venkat Balakrishnan, Jerome Powell, “, Dan North, “ Powell, Melissa Brown, Signifyd, ” Signifyd Organizations: Labor, Federal Reserve, Dow, Industrial, Regan Capital, Fed, Federal Reserve Bank of Atlanta, Allianz Trade, ”, PPI Locations: North America

Inflation back in the spotlightAn S&P 500 on a five-week winning streak. And growing consumer and business optimism. Cooling inflation, which would stoke investor hopes that the Fed would soon lower borrowing costs. The prospects of that economic ideal will be tested on Tuesday with the release of fresh Consumer Price Index data. reading of 2.9 percent for January on an annualized basis, its smallest gain since April 2021.

Persons: it’s Organizations: Fed Locations: U.S

☆ BlackRock is overhauling the way it advises powerful investors, from sovereign wealth funds to central banks
▼ + stars: | 2024-02-13 | by ( Rebecca Ungarino | ) www.businessinsider.com time to read: +5 min

The shake-up targets the $10 trillion money manager's influential group that provides services to high-stakes institutional clients like sovereign wealth funds, insurers, and central banks. The group has ambitions to become "the most trusted advisor to financial institutions in our industry," he wrote. AdvertisementThe FSIG includes the firm's Financial Markets Advisory team and the Financial Institutions Group. It had also historically encompassed the Official Institutions Group, known as OIG, which will no longer be a stand-alone unit, a BlackRock spokesperson confirmed on Tuesday. She has been critical to driving relationships with institutions and "instrumental in making BlackRock the partner of choice for central banks globally," he wrote.

Persons: —, Volodymyr Zelenskyy, Charles Hatami, BlackRock's, Hatami, Isabelle Mateos y, OIG, Mateos y, Crystal Wan, Olivier Van Eyseren, Anne Parthiot, Mark Erickson, Kimberly Kim, Erickson, Hiro Shimizu, Philipp Hildebrand, BlackRock's Brandon Hall, Brandon Hall, Ben Leax, Rob Goldstein, FMA, Larry Fink Organizations: Service, Business, BlackRock's Financial, Strategic Investors Group, Business Insider, Financial, Group, BlackRock, International Monetary Fund, FIG, EMEA, Presidential, Brandon Locations: Isabelle Mateos y Lago, Hatami, Europe, Middle East, Africa, Asia, Pacific, Ukraine, Central Asia, US

☆ This is the hottest trade going on in the market right now, but it's reaching a breaking point, BTIG says
▼ + stars: | 2024-02-12 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

A momentum-focused fund that has gained favor among traders could be in for a turnaround, according to BTIG. The iShares MSCI USA Momentum Factor ETF (MTUM) is trading about 26.5% above its 200-day moving average, said Jonathan Krinsky, chief market technician at the firm. MTUM YTD mountain The ETF this year The fund tracks large- and mid-cap stocks that have shown relatively strong price momentum, according to iShares. Market wisdom says that trading above the 200-day average indicates conviction and buying interest from investors. That comes after the fund lagged the market last year, finishing just 7.5% higher while the S & P 500 surged more than 24%.

Persons: Jonathan Krinsky, Krinsky, Eli Lilly —, —, Dow Jones Organizations: Meta, Nvidia, Amazon, Microsoft, Netflix, Morningstar, Tesla

☆ This India ETF is beating its main rivals — and the S&P 500 — in 2024
▼ + stars: | 2024-02-11 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

The WisdomTree India Earnings ETF (EPI) has a total return of 6.6% through Feb. 8, according to FactSet, and is up 18.7% over the past three months. That makes it the best performing of the five biggest India ETFs, with the iShares MSCI India ETF (INDA) and the Franklin FTSE India ETF (FLIN) both up less than 4% year to date.The WisdomTree fund is also beating The S & P 500, which up less than 5% over the same period. The WisdomTree fund has been a long-term winner as well, with an average annualized return of roughly 12% over the past decade. And, notably, the second-best performing major India ETF this year is the iShares MSCI India Small-Cap ETF (SMIN) . That is above the 0.65% of the iShares INDA ETF and the 0.19% of Franklin Templeton's FLIN.

Persons: date.The, Jeremy Schwartz, it's, It's, Schwartz, Franklin Templeton's FLIN Organizations: Franklin FTSE, CNBC, India ETF Locations: India, Franklin FTSE India

☆ Top Wall Street analysts pick these 3 dividend stocks for the long haul
▼ + stars: | 2024-02-11 | by ( Tipranks.Com Staff | ) www.cnbc.com time to read: +5 min

Investors ought to consider the insight of top Wall Street pros as they hunt for dividend stocks with solid fundamentals. Here are three attractive dividend stocks, according to Wall Street's top experts on TipRanks, a platform that ranks analysts based on their past performance. Overall, he thinks that the company offers a compelling investment opportunity, given its high dividend yield and industry-leading position that enables it to benefit from long-term telecom trends. (See EPD Insider Trading Activity on TipRanks)MPLX LPOur third dividend pick is another midstream energy player, MPLX LP (MPLX). The analyst expects a cash distribution of $3.57 per unit in 2024 and $3.84 per unit in 2025.

Persons: Wall, Ivan Feinseth, TipRanks, Selman Akyol, Akyol, EPD, Elvira Scotto, Scotto Organizations: Verizon Communications, Tigress, Verizon, Enterprise Products, Enterprise Products Partners, Enterprise, MPLX, RBC Capital Locations: unitholders

☆ A notorious market bear who called the 2000 and 2008 crashes warns current market conditions are worse than in 99.9% of history — typically meaning stocks are ripe for a 10%-30% sell-off
▼ + stars: | 2024-02-10 | by ( William Edwards | ) www.businessinsider.com time to read: +7 min

Read previewThe S&P 500 surpassed 5,000 for the first time on Friday, riding a wave of investor optimism about the health of the US economy. It's represented by the red line in the chart below, while the S&P 500 is shown in blue. Here's a chart from a regression analysis by Bank of America showing the impact that valuations have on long-term stock market returns. He predicted in April 2007 that the S&P 500 could lose 40%, then it lost 55% in the subsequent collapse from 2007 to 2009. The S&P 500, by comparison, is up about 23% over the past year.

Persons: —, John Hussman, Hussman, It's, Tom Lee, Jeffrey Buchbinder, Adam Turnquist Organizations: Service, Hussman Investment Trust, Business, Hussman, Bank of America

☆ S&P 500 could rise to 5,300 after hitting latest milestone, says UBS wealth head
▼ + stars: | 2024-02-09 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

While the S & P 500 has more doubled since hitting its pandemic low in March 2020, UBS thinks stock values are "well supported" and that the benchmark could exceed its original forecast for 2024. UBS global wealth management chief Mark Haefele said things were lining up for the S & P 500 to make a run toward 5,300 this year, about 6% upside from current levels. Haefele's base case for 2024 was a gain to around 5,000, but the S & P 500 has already reached that point in a hurry, up 5% year-to-date. "In this event, we believe the S & P 500 has the potential to rise to around 5,300 this year." The benchmark is on pace for five-straight positive weeks as tech shares rally and companies report higher fourth-quarter earnings than expected.

Persons: Mark Haefele, Haefele Organizations: UBS, Labor Department Locations: Thursday's

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