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☆ Morning Bid: Turbulence
▼ + stars: | 2023-01-19 | by ( ) www.reuters.com time to read: +2 min

Traders took Wednesday's weak U.S. production, retail sales and producer price data badly, selling risk assets and buying safer ones. Bond markets shrugged off hawkish rhetoric from non-voting Fed officials Bullard and Mester to rally. Fed voters Lael Brainard and John Williams might get more of markets' attention at events later in the day. Elsewhere, the dust is settling quickly on the Bank of Japan's decision not to bend to speculators' attack on its yield curve control policy. The yen has bounced back to where it was before the meeting and the Nikkei (.N225) slipped, though calm in Japan's bond market might suggest short sellers are having a breather before re-loading for meetings in March and April.

Either way, it does look like Q4 GDP, as well as December retail sales, investment and industrial production data will confirm the world's second-largest economy ended last year on an extremely weak footing. GDP is expected to contract 0.8% from Q3, giving annual growth of just 1.8% in the October-December period. Retail sales are expected to have fallen 8.6%. chartEconomists polled by Reuters reckon China's economy grew 2.8% last year overall, and will rebound to 4.9% this year. House price data on Monday showed the sector continued to weaken into December as new COVID-19 outbreaks hit demand.

☆ Ritholtz's Josh Brown sells Netflix ahead of earnings, but reiterates confidence in long-term trajectory
▼ + stars: | 2023-01-10 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

"I actually think Netflix will have a good report," he said. I would not be telling people don't own Netflix ahead of earnings. NFLX 1Y mountain Netflix shares plummeted 51% in 2022 Shares of Netflix slumped 51% in 2022 as investors rotated out of growth and streaming stocks faced a dwindling advertising environment and steepening competition. Despite selling shares, Brown remains confident in the company's long-term trajectory and reputation as one of the only profitable streaming services in the industry. Looking ahead, Brown views more information regarding Netflix's advertising tier as the news that could "make or break" this quarter.

☆ This 26-year-old quit her job to ask strangers how much money they make—now she's scoring 6-figure brand deals
▼ + stars: | 2023-01-02 | by ( Jennifer Liu | ) www.cnbc.com time to read: +6 min

Within months, Williams and her fiance, James Daniels, both quit their jobs to focus on turning Salary Transparent Street from a few TikTok videos to a full-fledged business. So far, Salary Transparent Street has brought in nearly $600,000, and the couple live off a $200,000 per year salary. Within two weeks, Williams connected with two agents who provided $24,000 in seed money for Salary Transparent Street's first two months. Salary Transparent Street continued to gain momentum, reaching millions of viewers. Just like with any job, Williams says, being your own boss also has some downsides, the biggest one being that the internet never stops.

☆ Premarket stocks: Wall Street kills its darlings
▼ + stars: | 2022-12-30 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

It appears that Wall Street has also caught on to the concept. Investors are rushing to kill their darlings – er, sell their stocks– and even safe-havens like Apple (AAPL) and Intel (INTC) are getting crushed in the stampede. What’s happening: It’s been a shaky year full of economic uncertainty, geopolitical chaos, elevated inflation and a hawkish Fed. But what’s been most surprising is that market-cap titans, traditionally expected to weather storms on Wall Street well, haven’t held up against the rising macroeconomic tides. EY Parthenon projects that consumer spending will flatline in 2023 after growing 2.7% this year.

☆ China Approves Foreign Videogames in Latest Breather for Tech Giants
▼ + stars: | 2022-12-28 | by ( Raffaele Huang | ) www.wsj.com time to read: 1 min

Imported videogames have been an important source of income for large Chinese game companies. SINGAPORE—China has resumed granting publishing approvals for foreign videogames, ending a halt stretching back to June 2021 and removing a source of uncertainty for the country’s once-flourishing videogame industry. China’s main videogame regulator, the National Press and Publication Administration, said Wednesday that it had approved 45 imported titles, including “Pokémon Unite,” a multiplayer battle arena game co-developed by China’s Tencent Holdings Ltd. and Japan’s The Pokémon Co., and Riot Games Inc.’s first-person shooter game “Valorant.”

☆ UBS' Art Cashin says this is the next key level to watch for the S&P 500
▼ + stars: | 2022-12-22 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

Keep an eye on the 3,800 level as the market sell-off picks up once again and investors put their hopes on a yearend rally, UBS' Art Cashin told CNBC's " Squawk on the Street " on Thursday. "That one-two combination this morning has us down, testing a very important 3,800 level in the S & P," he said. The comments from Cashin come after Tepper, the founder of Appaloosa Management, told CNBC on Thursday that he's bearish on the stock market heading into 2023. The Dow Jones Industrial Average and S & P 500 fell more than 1% each, while the Nasdaq Composite was down more than 2% in late-morning trading. The S & P 500 traded around 3,808.

☆ China's stunning reversal on lockdowns showed that mass protests can influence policy change in the country — but experts say it still doesn't threaten Xi's regime
▼ + stars: | 2022-12-11 | by ( Matthew Loh | ) www.businessinsider.com time to read: +6 min

But experts on China say it's unlikely the protests will embolden future political movements. The changes come after protests against COVID measures erupted all across China — rare for a country where dissent is snuffed out quickly. Baogang He, the chair of international relations at Deakin University in Australia, agreed that the protests show how mass anger can influence government policy, but not regime change. "No one is strong enough to exploit or dare to use these protests to mount a challenge to Xi Jinping," Xi, the professor, told Insider. Chong said that although Xi holds extensive power in China, the protests and subsequent rollback both underscore how he can make major mistakes, too.

LONDON, Dec 6 (Reuters) - The world is going to need another 50,000 tonnes of tin per year by 2030 to meet a looming surge in demand, according to the International Tin Association (ITA). The country exported 75,000 tonnes of refined tin last year with shipments running 8% higher through the first 10 months of this year. State producer PT Timah needs around two years to develop its existing tin chemical facility and longer to secure markets, Alwin Albar, chairman of the Association of Indonesian Tin Exporters, told a parliamentary hearing. China imported 22,600 tonnes of refined tin in the first 10 months of the year with Indonesian metal accounting for 19,000 tonnes. After peaking at 5,160 tonnes in September, headline LME tin stocks have fallen to 3,075 tonnes with 535 tonnes awaiting physical load-out.

☆ Stocks are likely to get smacked down in the first half of 2023 before markets improve
▼ + stars: | 2022-12-05 | by ( Patti Domm | In | ) www.cnbc.com time to read: +5 min

The outlook for next year is a bit better for stocks, but the first half sounds like it could be downright ugly. The strategist expects lows to be retested due to what could be a significant decline in earnings as interest rates rise. Jeff Kleintop, Charles Schwab's chief global investment strategist, expects a shallow recession may already have begun. He predicts the first half will be worse for stocks than the back half of the year, with a choppiness similar to the past six months. Calvasina expects small caps to be an area of outperformance, and she still sees value in energy and financials.

☆ India extends deadline to levy cap on digital payment transactions
▼ + stars: | 2022-12-02 | by ( ) www.reuters.com time to read: +1 min

MUMBAI, Dec 2 (Reuters) - India has decided to extend the deadline on capping the share of digital payment transactions by about two years to Dec. 31, 2024, the National Payments Corporation of India (NPCI) said on Friday. The NPCI had said in late 2020 that payment firms will not be allowed to process more than 30% of the total volume of transactions on UPI from Jan 1. The move comes as a breather to companies like Walmart Inc's (WMT.N) PhonePe and Alphabet Inc's (GOOGL.O) Google, which are among the leading digital money transfer apps in the country. They are powered by the state-backed United Payments Interface (UPI) framework, which facilitates peer-to-peer money transfer online through mobile apps. Reporting by Nupur Anand; Editing by Nivedita BhattacharjeeOur Standards: The Thomson Reuters Trust Principles.

☆ DEI programing stalled in 2022—how that could 'alienate' young workers in the future
▼ + stars: | 2022-12-02 | by ( Ashton Jackson | ) www.cnbc.com time to read: +3 min

According to new research from Glassdoor, in September 2017, 27% of companies reviewed on the site indicated corporate investment into DEI programs like Employee Resource Groups. Access to DEI programs surged to 39% in 2020 before peaking to 43% in 2021. Where are DEI programs thriving? Young people have been very vocal about their desire to work for companies that care about diversity, equity, and inclusion — and Glassdoor reviews prove it. Black women, and people of color collectively, are also more likely to say diversity, equity, and inclusion are important than their white counterparts.

☆ Mortgage rates fall for the third week in a row as inflation fears ease
▼ + stars: | 2022-12-01 | by ( Anna Bahney | ) edition.cnn.com time to read: +5 min

CNN —Mortgage rates dipped again this week, marking the third straight week of falling rates. Mortgage rates have risen throughout most of 2022, spurred by the Federal Reserve’s unprecedented campaign of hiking interest rates in order to tame soaring inflation. But in the last couple of weeks, mortgage rates have tumbled following reports that indicated inflation may have finally reached its peak. The average mortgage rate is based on mortgage applications that Freddie Mac receives from thousands of lenders across the country. Taken together with yesterday’s news from Powell, US Treasury yields fell, suggesting mortgage rates are likely to go in the same direction.

☆ European Central Bank says bitcoin is on the 'road to irrelevance'
▼ + stars: | 2022-11-30 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

The European Central Bank gave a strong critique of bitcoin on Wednesday, saying the cryptocurrency is on a "road to irrelevance." "More likely, however, it is an artificially induced last gasp before the road to irrelevance — and this was already foreseeable before FTX went bust and sent the bitcoin price to well below USD16,000," they wrote. Bindseil and Schaff said that bitcoin didn't fit the mold of an investment and wasn't suitable as a means of payment, either. "Bitcoin's conceptual design and technological shortcomings make it questionable as a means of payment: real Bitcoin transactions are cumbersome, slow and expensive," they wrote. "Bitcoin has never been used to any significant extent for legal real-world transactions."

☆ Bitcoin is on the 'road to irrelevance' and its last gasp was already on the horizon before FTX's collapse, ECB officials say
▼ + stars: | 2022-11-30 | by ( Phil Rosen | ) www.businessinsider.com time to read: +3 min

Bitcoin was heading for a dead-end even before the collapse of Sam Bankman-Fried's FTX, ECB officials wrote Wednesday. The recent price spike is likely an "artificial last gasp before the road to irrelevance," officials noted. "More likely, however, it is an artificially induced last gasp before the road to irrelevance – and this was already foreseeable before FTX went bust and sent the bitcoin price to well below $16,000." Despite the ongoing 'crypto winter', VC investments in the crypto and blockchain industry totalled $17.9 billion as of mid-July." And while the crypto industry faces growing calls for oversight, the ECB officials cautioned that regulation can be misunderstood as approval.

☆ JPMorgan downgrades First Solar, cites stock's recent outperformance following climate bill passage
▼ + stars: | 2022-11-28 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

First Solar 's stock is due for a much-needed breather following its outperformance in the wake of the Inflation Reduction Act being passed, according to JPMorgan. The stock's up more than 150% in the last five months and 97% in 2022. He also trimmed the bank's price target to $147 from $190 a share. To be sure, Strouse views First Solar as one of the biggest beneficiaries of the IRA in the not-too-distant future, but "easy money has likely been made." The new price target implies a 14% downside from Friday's close.

☆ Stocks making the biggest moves midday: Apple, DraftKings, Biogen, Williams-Sonoma and more
▼ + stars: | 2022-11-28 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

Check out the companies making the biggest moves midday:Apple — Apple shares fell 2% following a report that iPhone production could take a big hit due to unrest at a Foxconn factory in China, amid protests in China against the nation's zero-Covid policy. Wynn Resorts, Melco Resorts — Shares of casino operators Wynn Resorts and Melco Resorts gained 4.1% and 9.5% respectively, after the Chinese government granted them provisional licenses to continue operating in Macau. DraftKings — Shares dropped more than 5% after JPMorgan downgraded DraftKings to underweight from neutral, saying in a note that the company's competitors are more likely to achieve online sports betting profitability. Biogen — Biogen's stock fell nearly 4% after a Science.org report that a woman participating in an experimental Alzheimer's treatment trial, sponsored by Biogen and a Japanese pharma company, recently died from a brain hemorrhage. Williams-Sonoma — Shares tumbled 4.7% after Morgan Stanley downgraded the home furnishings stock to underweight, saying shares could fall further as demand weakens in a difficult macro environment.

☆ 7 CEOs on the ‘innovative’ and ‘timely’ books everyone should read this winter
▼ + stars: | 2022-11-27 | by ( Morgan Smith | ) www.cnbc.com time to read: +6 min

Many of the world's most successful CEOs and business leaders swear by their reading habit. CNBC Make It asked 7 CEOs to share their favorite reads for the holiday season. It is so timely and necessary given the pace of work and the amount of distractions. Unlike reading a typical book, which can feel passive, 'Embrace The Work, Love Your Career' is an experiential journal. This book is a quick read that really helped me connect to the ways we tend to tell ourselves stories to self-justify our thoughts and actions.

☆ Russian prison activist paints picture of life facing Griner
▼ + stars: | 2022-11-18 | by ( Filipp Lebedev | ) www.reuters.com time to read: +4 min

Russia's prison service has not responded to questions from Reuters about living and working conditions in such institutions. This is where in the morning they have the daily inspection, rollcall and physical exercise, whatever the weather. They always wear uniform. Breakfast is definitely going to be porridge - not with milk, and it’s porridge made from barley, that’s the most “popular”. The Gulag, created in 1933, and the current prison system (in Russia) are identical except for the name.

☆ Analysis: Political gridlock may help U.S. stocks but inflation still in driver's seat
▼ + stars: | 2022-11-17 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +4 min

A split government "makes major policy changes unlikely, and that stability in policy tends to be reassuring for investors." Still, macroeconomic concerns and monetary policy have driven markets all year, and investors believe that trend is unlikely to change anytime soon. "Inflation matters more than anything else right now," said Michael Antonelli, managing director and market strategist at Baird. In the last five instances when the November-December period occurred in a bear market, the S&P 500 logged an average two-month decline of 2.2%. If you look at bear markets there is no evidence of seasonality at the end of the year," Antonelli said.

☆ Ukraine shipping hub cheers as Kherson win foils Russian Black Sea hopes
▼ + stars: | 2022-11-15 | by ( Tom Balmforth | ) www.reuters.com time to read: +4 min

That would have cut Ukraine off from the Black Sea entirely, effectively leaving the former Soviet state of 44 million landlocked. Russia no longer has forces on the right, or western, bank of Europe's third largest river that bisects Ukraine and flows into the Black Sea, a vital conduit for Ukrainian grain exports. Rustam Minnekayev, deputy commander of Russia's central military district, said in April they planned to take full control of southern Ukraine. Mykolaiv is Ukraine's second biggest port and home to several major grain terminals that have come under attack. Natalia Humeniuk, the Ukraine army's southern command spokesperson, has told residents to remain wary of strikes.

☆ Asia shares pause as Fed warns against exuberance
▼ + stars: | 2022-11-14 | by ( Wayne Cole | ) www.reuters.com time to read: +4 min

read moreWaller added the markets were well ahead of themselves on just one inflation print, though he did concede the Fed could now start thinking about hiking at a slower pace. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) added 0.2%, after jumping 7.7% last week. read moreThe news on COVID rules had stoked a short-covering bounce in the yuan last week, which added to broad pressure on the dollar as yields dived. The dollar's recent retreat provided a much-needed fillip to commodities, with gold up at $1,768 an ounce after jumping over $100 last week. Oil futures extended their gains with Brent up 86 cents at $96.85, while U.S. crude rose 80 cents to $89.76 per barrel.

☆ China’s property easing is minor capitulation
▼ + stars: | 2022-11-14 | by ( Pete Sweeney | Thomson Reuters | Asia Economics Editor Pete Sweeney Joined Reuters Breakingviews In Hong Kong In September Previously He Served As Reuters' Chief Correspondent For China Economy | ) www.reuters.com time to read: +3 min

HONG KONG, Nov 14 (Reuters Breakingviews) - Beijing has rolled out more measures to support its flagging real estate sector, including extending repayment periods, facilitating financing for developers and lowering mortgage down-payments. Real estate, contributing roughly a quarter of China’s $17 trillion of output, is a speculative monster that has cannibalised capital better used for other endeavours. Together with other easing steps announced since March, UBS estimates the new policies could contribute more than 1 trillion yuan ($142 billion) in fresh financing to the struggling industry. But if property must correct in the name of rebalancing, that makes boosting the rest of the economy more urgent. Measures include allowing real estate firms to defer repayment on some loans, and trust lenders are instructed to help finance companies seeking to complete rental housing construction or acquire other companies.

☆ Captain Sully and Whoopi Goldberg are among the latest celebrities announcing they quit Twitter after Elon Musk takeover
▼ + stars: | 2022-11-13 | by ( Beatrice Nolan | Jordan Hart | ) www.businessinsider.com time to read: +6 min

Multiple celebrities say they have quit Twitter in the wake of Elon Musk's takeover. Now, some celebrities are making good on their threats to quit Twitter. Téa LeoniThe actress best known for her role in "'Madam Secretary" has also seemingly deleted her Twitter account. Gigi HadidThe fashion model took to Instagram to condemn Twitter, especially under Musk's leadership, announced she'd be deactivating her account. "I deactivated my Twitter account today.

☆ Here's how to overcome the stigma of getting laid off so you can reenter the job market with confidence
▼ + stars: | 2022-11-10 | by ( Rebecca Knight | Catherine Henderson | ) www.businessinsider.com time to read: +5 min

And recovering from a job loss takes time, effort, and self-awareness. For some, it can feel like a personal failure, according to John Pohl, a career coach based in the Atlanta area. Still, recovering from a job loss takes time, effort, and self-awareness. Take a breatherIn the immediate aftermath of a job loss, Pohl recommended taking a little time off. That's why it's important to make sure that throughout your search, you're getting plenty of rest, exercise, and fresh air.

Search resuls for: "Breather"

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