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☆ IMF upgrades UK growth forecast in another boost to new Labour government
▼ + stars: | 2024-07-16 | by ( Jenni Reid | ) www.cnbc.com time to read: +3 min

LONDON — The International Monetary Fund on Tuesday lifted its 2024 growth outlook for the U.K. to 0.7% from 0.5%, providing a further boost to the country's new government. Looking ahead, the Washington, D.C.-based IMF reiterated its forecast for 1.5% U.K. growth in 2025 in the July update of its World Economic Outlook. Investment bank Goldman Sachs earlier this month nudged its 2025 forecast for the U.K. economy 0.1 percentage point higher, to 1.6%. Other economies given a 2024 growth upgrade by the IMF on Tuesday included the euro zone, which it lifted by 0.1 percentage point to 0.9%, Spain, up 0.5 percentage point to 2.4%, and China, up 0.4 percentage point to 5%. It lowered its forecast for the U.S. economy by 0.1 percentage point to 2.6%.

Persons: Taylor, Goldman Sachs, Keir Starmer, Goldman, — CNBC's Sophie Kiderlin, Vicky McKeever Organizations: Nine, Monetary Fund, D.C, Investment, Labour, European Union . Deutsche Bank, Friday, Deutsche Bank, Jefferies, Bank of England, Reuters, IMF Locations: Ruskin Park, London, England, Washington, brightening, Spain, China, U.S, Asia

☆ Here are 5 key things we're watching closely in the stock market this week
▼ + stars: | 2024-07-13 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

Three of our Club rate plays — solar panel company Nextracker , Stanley Black & Decker , and Ford — were our top-performing stocks for the week. Friday also ushered in the start of the second quarter earnings season. Earnings Club name Morgan Stanley reports second-quarter earnings before Tuesday's opening bell. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Nextracker, Stanley Black, Decker, Ford —, Wells Fargo, Morgan Stanley, Abbott, Goldman Sachs, Charles Schwab, JB Hunt, Johnson, Ally, Kinder Morgan, Horton, Huntington, Jim Cramer's, Jim Cramer, Jim, Ted Pick, Adam Galici Organizations: Dow Jones, Nasdaq, Big Tech, PPI, Abbott Laboratories, Libre Rio, Bank of America, PNC Financial, PNC, Pinnacle Financial, Housing, U.S . Bancorp, Northern Trust Corporation, Citizens, United Airlines, Alcoa, Steel Dynamics, Green Realty, Taiwan Semiconductor, Nokia, Infosys Technologies, McLennan Companies, T Bank Corp, Forestar, Novartis, Textron, Netflix, PPG Industries, AAR, American Express, Fifth Third Bancorp, Halliburton, HAL, Comerica, CMA, Financial, Jim Cramer's Charitable, CNBC Locations: Wells, BlackRock, BLK, U.S, Marsh, Davos, Switzerland

☆ These stocks reporting next week have earnings momentum
▼ + stars: | 2024-07-12 | by ( Pia Singh | ) www.cnbc.com time to read: +4 min

Next week brings big earnings reports from heavyweight financials and a couple other Wall Street favorites, some of which have strong forward earnings momentum ripe for investment. For the quarterly period, the estimated year-over-year earnings growth rate for the broad market index is 8.8%, according to FactSet. If that comes out as the actual growth rate for the quarter, it will be the highest year-over-year earnings growth rate reported by the index since the first quarter of 2022, which saw a 9.4% growth rate, FactSet said. Companies with strong earnings momentum often show revenue growth, improving margins or cost reductions, making the stocks look more attractive. Take a look at the stocks we found below: Netflix , which is set to report its results on Thursday, has strong earnings momentum, according to analysts.

Persons: FactSet, TD Cowen, John Blackledge, Kai, Morgan Stanley, — CNBC's Chris Hayes Organizations: CNBC Pro, CNBC, Netflix, Northern Trust, Fifth, Regions Financial, Trust, RBC Capital Markets, Federal Reserve, RBC, . United Airlines, United Airlines, Delta Air Lines, Delta, United Locations: Northern

☆ 'Why would you tinker with it if it's not broken?': Economist on why the Fed may not cut rates in September
▼ + stars: | 2024-07-12 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

Jerome Powell, chairman of the US Federal Reserve, during a Senate Banking, Housing, and Urban Affairs Committee hearing in Washington, DC, US, on Tuesday, July 9, 2024. Markets now firmly expect a September interest rate cut in the U.S., but the Federal Reserve has a strong reason to hold off, according to economist Carl Weinberg. Money market pricing for a rate cut at the Fed's fall meeting rose from around 70% to more than 90% on Thursday, according to LSEG data, after a softer-than-expected consumer price index print. Fed Chair Jerome Powell had already bolstered expectations of such a move when he said earlier this week that there were risks in keeping interest rates too high for too long — comments interpreted as "modestly dovish" by analysts. However, there are also risks to easing monetary policy that cast a cloud over the rate cut outlook, Weinberg, chief economist at High Frequency Economics, told CNBC's "Squawk Box Europe" on Friday.

Persons: Jerome Powell, Carl Weinberg, Weinberg, CNBC's Organizations: US Federal Reserve, Banking, Housing, Urban Affairs Committee, Federal Reserve Locations: Washington , DC, U.S

☆ Why do tennis players wear white?
▼ + stars: | 2024-07-12 | by ( Jacqui Palumbo | ) edition.cnn.com time to read: +10 min

A muse to the designer Jean Patou, Lenglen became tennis’ first fashion icon with her signature headscarf and then-shocking shorter hems. Anne White was banned from wearing a white catsuit at Wimbledon four decades before Serena Williams caused a stir with a similar cut at the French Open. Ian Kington/AFP/Getty ImagesAt the US, French and Australian Open, players have challenged definitions of what tennis clothes can be thanks to looser rules (subject to referee opinion). Though she cited its circulation benefits following a severe blood-clot scare with the birth of her child, the French Open said it would bar the style in the future. However, the Women’s Tennis Association formally allowed it, and Williams continued to wear versions of the bodysuit at the 2019 and 2021 Australian Opens, normalizing the agile and simplified cut for the tennis court.

Persons: Roger Federer’s, Serena Williams ’, Naomi Osaka, Robert Prange, Clive Brunskill, Kevin Jones, ”, “, Ben Rothenberg, Suzanne Lenglen, George Rinhart, Zendaya, Federer, Fred Perry, Elsa Schiaparelli, Lilí de, De, Jean Patou, Lenglen, Anne White, Serena Williams, Neville Marriner, Williams, wouldn't, Ian Kington, Serena, Venus’s lacy, Venus Williams, Matthew Stockman, ” James, Rothenberg, Fila, Bjorn Borg, Coco Gauff, Eloisa Lopez, Reuters Andre Agassi, Rebecca Naden, Andre Agassi, Jurij Rodionov, Sabine Lisicki, Men’s tenniswear, “ There’s Organizations: CNN, Wimbledon, Nike, Fashion Institute of Design &, Lacoste, Daily, Getty, Women’s Tennis Association, Sports, Reuters, “ Wimbledon Locations: Los Angeles, England, culottes, French, AFP

☆ Unexpected bad news for inflation: Wholesale prices rose in June
▼ + stars: | 2024-07-12 | by ( Alicia Wallace | ) edition.cnn.com time to read: +2 min

CNN —Wholesale price inflation unexpectedly accelerated in June to its highest rate since March 2023. That’s an unwelcome development for the US economy one day after the government announced that consumer prices declined on a monthly basis for the first time in four years. On a monthly basis, prices rose 0.2% after holding flat in May. Economists had expected that prices would increase 0.1% on a monthly basis and hold steady at 2.2% annually. Prices dropped on a monthly basis for the first time since May 2020, and annual inflation slowed to 3%, its slowest rate since June 2023.

Persons: That’s, Price, ” Clark Bellin, Bellin Organizations: CNN —, of Labor Statistics, PPI, Federal Reserve

☆ Stock market today: Indexes edge higher as traders digest fresh inflation data and bank earnings
▼ + stars: | 2024-07-12 | by ( Max Adams | ) www.businessinsider.com time to read: +2 min

US stocks edged higher on Friday after a rough prior session as traders digested new data and earnings. Banks including JPMorgan and Citi kicked off second-quarter earnings season. AdvertisementUS stocks were slightly higher on Friday as new inflation data dropped and big US banks kicked off second-quarter earnings season. Even with Friday's strong PPI, we still believe a September rate cut is in play," Clark Bellin, president and CIO of Bellwether Wealth, said. AdvertisementMeanwhile, big US banks opened up the second-quarter earnings season.

Persons: —, Clark Bellin, Wells Organizations: JPMorgan, Citi, Service, Federal Reserve, Bellwether Locations: Wells Fargo

☆ Here's why Wells Fargo stock is down 7% despite the bank's quarterly earnings beat
▼ + stars: | 2024-07-12 | by ( Morgan Chittum | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. Wells Fargo stock tumbled 7% after the bank's second-quarter report despite beats on revenue and earnings. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Dow, We're, Wells, Morgan Stanley, Morgan, Jim Cramer's, Jim Organizations: CNBC, Big Tech, Nvidia, Investors, Wells, Abbott Laboratories, . Capital, Abbott Labs Locations: Wells Fargo, NVDA

☆ Europe markets head for higher open as more U.S. inflation data rolls in
▼ + stars: | 2024-07-12 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

Skyscrapers in the La Defense business and financial district in Paris, France, on Monday, June 3, 2024. LONDON — European stocks are set to nudge higher at Friday's open, defying a broader global selloff, with fresh inflation data set to land. Reaction to the historic French and U.K. elections dominated the start of the week, but attention has moved to a flurry of inflation data. On Thursday, the U.S. consumer price index declined more than expected to 3% annually, down from 3.3% in May. The data will be followed up by the U.S. producer price index Friday, while German, French and Italian inflation readings will also be released.

Persons: Germany's DAX, Jerome Powell Organizations: La Defense, LONDON, MIB, CAC, Federal Locations: Paris, France, U.S

☆ Cramer sees new weight loss drugs as a problem for soft drink and snack giant PepsiCo
▼ + stars: | 2024-07-11 | by ( Paulina Likos | ) www.cnbc.com time to read: +2 min

PepsiCo : The soft drinks and snacks giant reported a mixed quarterly Thursday with a sales miss and an earnings beat. Jim Cramer said Thursday that PepsiCo is in a tough position due to consumers using GLP-1 weight loss drugs to curb appetite. Delta Air Lines : The carrier reported record revenue during its second quarter but a slump in profits, which dragged the stock down more than 5%. Alongside a solid print, the company said it expects record revenue growth for the third quarter on booming summer travel demand. This was a "very surprising" development from the company, Cramer said, given the main use case for aluminum is aerospace, an industry that has been experiencing slower manufacturing of planes as of late.

Persons: Jim Cramer's, Jim Cramer, Cramer, Slim Jim, BoomChickaPop Organizations: CNBC, Club, PepsiCo, Delta Air Lines, Darden, Jefferies, Olive Garden, Alcoa

☆ Kelly Evans: The cuts are coming
▼ + stars: | 2024-07-11 | by ( Kelly Evans | ) www.cnbc.com time to read: +2 min

Seeing the June CPI print with a negative sign. You can be pretty sure now that Fed rate cuts are coming. Core CPI for the past three months annualized is now running just 1.1%. In fact, core goods prices have dropped 12 out of the past 13 months in the CPI. We could actually be at a pretty nice economic inflection point right now--but only if the labor market doesn't keep slowing.

Persons: we've, we're, Julia Coronado, J.P, Morgan, Powell, Goldman Sachs, Gary Cohn, Kelly Twitter, @KellyCNBC, @realkellyevans Organizations: CPI, Treasury, Trump, CNBC, Nasdaq

☆ Millionaires are leaving Hong Kong, but its art scene is booming
▼ + stars: | 2024-07-11 | by ( ) www.cnbc.com time to read: +13 min

Narration: Home to a host of financial institutions, Hong Kong is one of the world's wealthiest cities. The Hong Kong Art Gallery Association recorded a 27% increase in member galleries between 2021 and 2023. Nicolas Chow: Chinese art and ancient Chinese art is really at the genesis of Sotheby's Hong Kong when we came here. Angelle Siyang-Le: We firmly believe that Hong Kong is the best place to do art business in Asia, Hong Kong is a natural melting. Emily Tan: That's all from Hong Kong – join us next time in a new city as we explore 'The Art of Appreciation.'

Persons: –, Nicolas Chow, Emily Tan, we've, they've, It's, Emperor Chen, Chen, it's, I'm, who'll, she's, Mak2, Allison Cheung, Angelle, Hong Kong, they're, Emily, Hong Kong – Organizations: Hong, Hong Kong Art Gallery, Asia, Art, Basel, Art Basel Locations: Hong Kong, Asia, Art Basel, Sarthe, Hong Kong's, Swiss, Basel, Miami, Paris, Hong, US, Australia, Switzerland, France, Southeast Asia, Korea, Mak2, Sims

☆ These 3 stocks are set to bounce once the Fed finally lowers interest rates
▼ + stars: | 2024-07-11 | by ( Morgan Chittum | ) www.cnbc.com time to read: +2 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. "This CPI is really in control today," Jim Cramer said. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Morgan Stanley, Stanley Black, Decker, Morgan, toolmaker Stanley, Wells, Jim Cramer's, Jim Organizations: CNBC, Nasdaq, Big Tech, Federal Reserve, Nvidia, Apple, Microsoft, Street Locations: NII

☆ The Nasdaq looks ugly, giving many stocks in the broader market their time in the sun
▼ + stars: | 2024-07-11 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

However, most stocks were up with about 6 to 1 advancers to decliners on the New York Stock Exchange. The reverse happened Thursday as those stocks became a source of funds to buy the rest of the market, especially the housing stocks, solar stocks, real estate stocks, utilities, cyclical, and small caps. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. Traders work on the floor of the New York Stock Exchange (NYSE) on July 11, 2024 in New York City.

Persons: Jim Cramer, Russell, Banks, Wells, Morgan Stanley, Jim Cramer's, Jim, Spencer Platt Organizations: CNBC, Nasdaq, New York Stock Exchange, Meta, Palo Alto Networks, Big Tech, FedWatch, CPI, PPI, JPMorgan, Citigroup, Jim Cramer's Charitable, Traders, Getty Locations: decliners, Wells Fargo, New York City

☆ U.S. inflation likely to continue to decelerate, analyst says
▼ + stars: | 2024-07-11 | 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 EmailU.S. inflation likely to continue to decelerate, analyst saysDaniel Casali, chief investment strategist at Evelyn Partners, comments on the U.S. inflation print, laying out the three reasons he sees inflation continuing on a path of deceleration.

Persons: Daniel Casali, Evelyn Organizations: Evelyn Partners

☆ DuPont is a buy at current prices for investors who don't already own the stock
▼ + stars: | 2024-07-10 | by ( Morgan Chittum | ) www.cnbc.com time to read: +2 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. If you don't own DuPont stock, Jim Cramer said current prices are a good entry point. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER .

Persons: Jim Cramer, Jerome Powell, we're, Jim, it's, Jim Cramer's Organizations: CNBC, Nasdaq, Federal, Honeywell International, Air, Honeywell, DuPont, Big Tech, NVDA

Goldman Sachs raised its price target on Tesla, but it still sees a a decline for the electric vehicle maker. Analyst Chris Pierce upgraded his rating to buy from hold and assigned a $160 price target on Carvana, implying shares could jump 27.3%. His $77 price target on Walmart suggests the stock could jump nearly 10.2% over the next 12 months. Analyst Peter Keith assumed coverage of the retailer with a neutral rating and $156 price target, suggesting shares can add 5.7% over the next year. LLY YTD mountain LLY year to date — Pia Singh 5:51 a.m.: Goldman raises Tesla price target, but still sees stock slide Don't expect Tesla's recent momentum to last, according to Goldman Sachs The bank raised its price target on the electric vehicle maker to $248 from $175.

Persons: Tesla, Goldman Sachs, Eli Lilly, Needham, Chris Pierce, Pierce, — Pia Singh, Jefferies, Corey Tarlowe, Tarlowe, Piper Sandler, Peter Keith, Keith, Carter Gould, Gould, Goldman, Mark Delaney, Fred Imbert Organizations: CNBC, Barclays, Jefferies, Walmart, Fox Robotics, EV, Tesla Locations: Tuesday's

☆ Here are Wednesday's biggest analyst calls: Nvidia, Apple, Netflix, Meta, Tesla, Eli Lilly, Walmart, Microsoft, Oracle & more
▼ + stars: | 2024-07-10 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

TD Cowen reiterates Meta as buy TD Cowen raised its price target on Meta to $600 per share from $530. Bank of America downgrades Visa & Mastercard to neutral from buy Bank of America said it sees "limited upside" for the payment stocks. Bank of America downgrades WK Kellogg to underperform from neutral Bank of America said it sees weakening industry trends for WK Kellogg. "We're initiating coverage of Bausch + Lomb (BLCO) with an Outperform rating and $19 price target." Bank of America initiates Composecure as buy Bank of America said it's bullish on shares of the metal payment card manufacturer.

Persons: Bernstein, Iris, it's bullish, Argus, Teva, Piper Sandler downgrades, Piper, Jefferies, Redburn, Goldman Sachs, Tesla, Goldman, Eli Lilly, Morgan Stanley, Needham, BTIG, it's, TD Cowen, Meta, WK Kellogg, Cobra Kai, Truist, Nomura, Raymond James, Bausch Organizations: Iris Energy, Walmart, Fox Robotics, Spotify, Oracle, Barclays, Microsoft, Citi, Quest, Bank of America, MKS, Southwest Citi, Southwest Airlines, Amazon, YouTube, Meta, " Bank of America, Visa, Mastercard, of America, SNAP, Netflix, Apple, Nvidia Locations: Mounjaro, Alaska, Southwest, underperform

☆ Gen Z's newest style trend starts with staring deeply into your lover's (or dog's) eyes
▼ + stars: | 2024-07-09 | by ( Anna Haas | ) www.businessinsider.com time to read: +5 min

"To know someone that closely that you know their eye color is a sign of personal connection," she told BI. Related storiesThe style and sentiment behind this modern occurrence, though, is particularly reminiscent of Georgian eye miniatures, later termed "lover's eyes." Lover's eyes became particularly popular in the late 18th century. Incidentally, the mythology behind lover's eye jewelry is rooted in the tangled love story of Queen Charlotte and King George III's son, the future King George IV. Bos said lover's eyes were huge for about 50 years — until around the time the photograph was invented.

Persons: —, Ben Bailey, Anne Bos, Z, Graham Boettcher, Bos, Charlotte, Queen Charlotte, King George III's, King George IV, George, Prince of Wales, Maria Fitzherbert, Fitzherbert, Maria, Boettcher, Prince of Organizations: Service, Business, Catholic, Print Locations: Instagram, Prince of Wales

☆ Fed Chair Powell talks up progress on inflation but says rate cuts not imminent yet
▼ + stars: | 2024-07-09 | by ( Bryan Mena | ) edition.cnn.com time to read: +5 min

However, central bank officials still want to see more progress before cutting interest rates, he noted. “The most recent inflation readings, however, have shown some modest further progress, and more good data would strengthen our confidence that inflation is moving sustainably toward 2%,” he added. Fed officials expect to cut interest rates just once this year, according to their latest economic projections in June, compared to the three cuts they forecast in March. The annual PCE inflation rate registered at 2.6% in June, down slightly from 2.7% in May. Fed officials and most economists don’t see a recession this year.

Persons: Jerome Powell, ” Powell, Powell, Inflation, John Williams, ” Seema Shah Organizations: Washington CNN, Inflation, Committee, Financial, ” New York Fed, Congress, Fed, Asset Management Locations: India, United States

☆ How to trade this week’s CPI report, according to JPMorgan
▼ + stars: | 2024-07-09 | by ( Fred Imbert | ) www.cnbc.com time to read: +2 min

The S & P 500 would increase 0.25%-0.75% under this outcome. 15% chance — CPI rises 0.25%-0.3%: The S & P 500 would drop 0.75%-1.25% under this scenario, as such a report could show shelter prices increasing. 15% chance — CPI gains by 0.1%-0.15%: This outcome would be viewed favorably by investors as it could signal accelerating "goods disinflation." The S & P 500 would jump 1%-1.5%. 2.5% chance — CPI rises more than 0.3%: Such a hot inflation report would spark a 1.25%-2.5% sell-off in the S & P 500, JPMorgan traders think.

Persons: Dow Jones Organizations: Federal Reserve, CPI, JPMorgan

☆ Stock futures are little changed after S&P 500 notches another record close: Live updates
▼ + stars: | 2024-07-09 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

Stock futures were little changed in overnight trading Tuesday after the S&P 500 notched a fresh record close. S&P 500 futures and Nasdaq-100 futures were little changed. The S&P 500 edged up 0.07%, while the Nasdaq added 0.14%. Wednesday marks a light day for economic data, with a final wholesale inventories reading for May due ahead of the June consumer price index reading on Thursday. "If we get a cooler print on CPI this week and if get a cooler print on PPI, September will get priced in as a lock," Liz Young Thomas, SoFi's head of investment strategy, said on CNBC's "Closing Bell" on Tuesday, cautioning that at some point, cooler data may become too cool.

Persons: Jerome Powell, Dow, Powell, Liz Young Thomas, SoFi's Organizations: New York Stock Exchange, Stock, Dow Jones, Nasdaq, Senate, Committee, Financial Services Committee, PPI

☆ What Happens When Your Bank Isn’t Really a Bank and Your Money Disappears?
▼ + stars: | 2024-07-09 | by ( Rob Copeland | ) www.nytimes.com time to read: +1 min

For close to a century, putting your savings into a federally insured bank has been a sure thing: If the institution fails, up to $250,000 of your money will be protected. The promise of bank insurance — a tenet of U.S. consumer protection since the Great Depression — is now being tested by a crisis swirling around online-only lenders with hundreds of millions of dollars of deposits between them. Most depositors have little clue where their money has gone, and whether they will get any of it back. It operated banking software for fast-growing online lenders with names like Juno, Yieldstreet and Yotta. Their slick websites advertise insurance from the Federal Deposit Insurance Corporation, the U.S. agency that pledges to pay back lost funds.

Persons: you’ve Organizations: Synapse Technology, Federal Deposit Insurance Corporation, U.S . Locations: U.S

☆ I went to Québec City and felt like I'd jetted off to Europe without leaving North America
▼ + stars: | 2024-07-08 | by ( Joey Hadden | ) www.businessinsider.com time to read: 1 min

Perched on a hill overlooking the St. Lawrence River, Québec City is 400 years old, making it the oldest city in Canada. Québec in the 1800s and 2022. The Print Collector/Print Collector/Getty Images; Joey Hadden/Business InsiderThe city was founded by French explorer Samuel de Champlain, according to the city's website.

Persons: Joey Hadden, Samuel de Champlain Organizations: Québec Locations: St, Lawrence, Québec City, Canada, French

☆ 'We're in a slow-motion melt-up': 3 reasons why the bull market in stocks will continue, according to Ed Yardeni
▼ + stars: | 2024-07-08 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

The stock market will continue to hit record highs driven by reasonable valuations and continued earnings growth, according to Ed Yardeni. AdvertisementThe record rally in the stock market isn't close to being over, according to market veteran Ed Yardeni. Forward earnings expectations riseAnalysts' forward earnings expectations hit a record high last week, illustrating that the market rally is supported by what matters the most: profits. Market breadth will improveWhile the stock market rally has been driven mostly by a concentrated handful of companies, improving earnings breadth should lead to improving market breadth, according to Yardeni. There's a lot of companies that are benefiting from AI," Yardeni said.

Persons: Ed Yardeni, —, Yardeni, Corning, let's Organizations: Service, CNBC

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