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☆ Fading risks, fear of missing out may fuel US stocks after near 20% rally
▼ + stars: | 2023-06-08 | by ( Lewis Krauskopf | ) www.reuters.com time to read: +5 min

"Further strength might beget further strength because of the FOMO factor," he added, using the popular acronym for "fear of missing out." "Inflation has clearly subsided, and yet labor market strength has remained intact," wrote BMO Capital Markets chief investment strategist Brian Belski in a recent note. “Moving past the debt ceiling and at least having some economic data that looks ok is actually enough to get some people interested,” said Keith Lerner, co-chief investment officer at Truist Advisory Services. Lerner on Monday shifted his expected S&P 500 range for this year up to 3,800-4,500, from 3,400-4,300 previously, citing improving earnings trends among other factors. For Hans Olsen, chief investment officer at Fiduciary Trust Co, that’s an ominous sign.

Persons: Cash, Chuck Carlson, Brian Belski, BofA, ”, Keith Lerner, Lerner, Monday, John Lynch, Hans Olsen, Olsen, Lewis Krauskopf, Ira Iosebashvili, Diane Craft Organizations: YORK, BofA Global, Deutsche Bank, Horizon Investment Services, BMO Capital Markets, ” BMO, Reuters Graphics, ISI, Advisory, Comerica Wealth Management, Microsoft, Nvidia, Reuters, Thomson

☆ Opinion: E. Jean Carroll lawsuit against Trump resurrected my trauma from testifying about a rape
▼ + stars: | 2023-05-09 | by ( Opinion Elizabeth Grey | ) edition.cnn.com time to read: +8 min

I became hyper-critical of myself, as if the defense attorney had set up shop in my own mind. Horrible moments of our lives and how defense attorneys frame them can become public fodder. The goal of a defense attorney seems to be to break the survivor giving testimony. I see a screenshot of text of an exchange between Carroll and Joseph Tacopina, defense attorney for Trump. The National Sexual Assault Hotline is 1-800-656-4673 and provided by RAINN (Rape, Abuse & Incest National Network) 24/7.

Biden called Republican House Speaker Kevin McCarthy in Jerusalem, where he is on a diplomatic trip, to invite him to a May 9 White House meeting. Biden also extended invitations to House Democratic leader Hakeem Jeffries, Senate Majority Leader Chuck Schumer and Republican leader Mitch McConnell. Biden has steadfastly said he will not negotiate over the debt ceiling increase, but will discuss budget cuts after a new limit is passed. A White House official said Biden, who had previously said he wouldn't meet McCarthy at all to discuss the debt limit, would "stress that Congress must take action to avoid default without conditions" on May 9. The bill has no chance of passing the Democrat-controlled Senate and the White House has said Biden would veto the legislation if it did.

WASHINGTON, May 2 (Reuters) - President Joe Biden will not negotiate over the debt ceiling during his meeting with four top congressional leaders on May 9, but he will discuss starting "a separate budget process" to talk about spending priorities, the White House said on Tuesday. "He is not going to negotiate on the debt ceiling," White House press secretary Karine Jean-Pierre said. The White House and Biden have previously asked Republicans for a clean debt ceiling hike and offered to discuss spending once the risk of default is off the table. The White House knew Yellen's letter would be released on Monday, Jean-Pierre said. Biden called Republican House Speaker Kevin McCarthy in Jerusalem, where he is on a diplomatic trip, to invite him to the May 9 White House meeting.

☆ De Bruyne rises to the occasion again for superb City
▼ + stars: | 2023-04-26 | by ( ) www.reuters.com time to read: +3 min

Arsenal came into the match stuttering from three draws while City, like all the great teams, were girding their loins for the last big push when the trophies are decided. And it was the Belgian midfielder who set the tone and then maintained it as City really should have reached halftime four or five up instead of 2-0. As is becoming the norm, De Bruyne was withdrawn by manager Pep Guardiola, as ever, looking disgruntled at the decision, as Holden pulled one back for the visitors before Haaland ensured City finished on a high. De Bruyne revelled in that freedom and City looked much more of a goal threat than so often when they patiently probe up and down the flanks trying to manoeuvre themselves into dangerous positions. “We know what people will say, but it is still seven games,” he said.

Solari wasn't the only American to veer wildly between frugality and all-out spending sprees during the pandemic. In particular, younger people — Gen Z and millennials — have seen the early parts of their careers and critical years of their financial lives defined by the shifting sands of the pandemic economy. The strange pandemic-savings paradoxThe pandemic recession did not actually mean people had no money. The Fed found that the top quartile of earners added nearly $1.5 trillion to their savings through spending reductions, even as the pandemic consumed millennials and Gen Z's savings. If the mantra of the pandemic recession was giving everyday Americans money, the reaction is now to yank that back.

☆ A big landlord who controls 60,000 homes is funneling money into a political action group that could urge lawmakers to curb renter protections
▼ + stars: | 2023-03-02 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +5 min

Corporate owners of US rental homes are being scrutinized for making homes unaffordable. The landlords that control thousands of homes are girding for a political fight over regulation. As tenant advocates met with the White House and pushed the Biden administration to take action on high housing costs in November, one of America's largest single-family landlords was preparing its own move. AMH, formerly known as American Homes 4 Rent, did not respond to an Insider request for comment. Companies like AMH, Pretium Partners, and Invitation Homes have been building large portfolios of homes across the country since the last financial crisis.

☆ UPS Prepares for Slowdown in Global Delivery Volumes
▼ + stars: | 2023-01-31 | by ( Esther Fung | Dean Seal | ) www.wsj.com time to read: 1 min

United Parcel Service Inc. is girding its business against a slowdown in global delivery volumes as it advised that annual revenue could decline for the first time in years. The Atlanta-based delivery company said Tuesday that it expects revenue of between $97 billion and $99.4 billion in 2023, down from $100.3 billion last year.

The nation’s largest banks said rising interest rates are likely to push the U.S. into a recession this year, though they are only starting to feel the effects in their quarterly earnings. The four largest commercial banks reported mixed fourth-quarter results on Friday. Lending grew more profitable and consumers continued to spend on credit cards, but the banks collectively stowed away $2.8 billion in the final three months of 2022 to cover potential loan losses. JPMorgan Chase & Co. set aside nearly half of it.

☆ Salesforce Customers Not Swayed by Slack, Analysts Say
▼ + stars: | 2023-01-06 | by ( Angus Loten | ) www.wsj.com time to read: +6 min

Salesforce reported about $402 million in Slack subscription and support revenue in the fiscal third quarter ending Oct. 31. Meanwhile, on Wednesday Salesforce said it would lay off 10% of its workforce as customers take a more cautious approach to spending. “The Slack acquisition by Salesforce has not changed the trajectory of Salesforce up or down,” said Tim Crawford, CIO strategic adviser at Los Angeles-based enterprise IT advisory firm AVOA. “That’s really the struggle for customers, to maintain the pace with a company like Salesforce,” he said. Forrester’s Ms. Herbert said the recent departures of Mr. Taylor and the Slack executives might signal that Salesforce is shifting the focus back to its core products.

☆ Costs and uncertainty cloud oil outlook, says Dallas Fed
▼ + stars: | 2022-12-29 | by ( Liz Hampton | ) www.reuters.com time to read: +2 min

The index was at 57.7 in the second quarter of this year, the highest reading in the survey's history. U.S. shale oil growth has also showed signs of slowing. Some 32% of executives polled said cost inflation and supply chain bottlenecks were the biggest drags on oil and gas production growth, while 27% cited maturing oilfields. Overall, executives polled were less optimistic about the future with the company outlook index falling by 20 points to 13.1, below the series average. The outlook uncertainty index jumped to 40.1 from 35.7 the prior quarter.

☆ A band of immigrant tenants went to war with their $31 billion landlord. It's a sneak peek at what's to come across America.
▼ + stars: | 2022-12-27 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +16 min

In Alexandria, Virginia, $31 billion landlord CIM Group bought a massive apartment complex in 2020. The group was organizing against CIM Group, the landlord they said had upended their lives. Insider spoke with 10 Southern Towers tenants. The battle between the Southern Towers tenants and CIM could presage what's to come across America. "We're not going to leave"The Southern Towers tenants aren't the only ones following the money.

REUTERS/Dinuka Liyanawatte/File PhotoDec 13 (Reuters) - For the energy industry, 2022 will be remembered as the year Russia's invasion of Ukraine accelerated a global energy crisis. The world's top energy companies beat a hasty retreat from Russia and wrote off tens of billions of dollars in assets. WHY IT MATTERSRussia's invasion of Ukraine caused European countries to re-evaluate their relationship with that nation, long the continent's primary supplier of natural gas. "We are seeing nothing less than the termination of a successful 50-year partnership on gas between Russia and Europe," said Michael Stoppard, special adviser and global gas analyst at S&P Global Commodity Insights. As the year comes to a close, costs for natural gas and heating fuel have ebbed as economic activity declines.

☆ Tech jobs: Recent grads send in hundreds of apps in unfamiliar, shrinking market
▼ + stars: | 2022-12-10 | by ( David Ingram | David Ingram Covers Tech For Nbc News. | ) www.nbcnews.com time to read: +6 min

Now, though, they’re applying for tech jobs at possibly the worst time in years, as nearly every part of the sector from streaming services to robotics has laid off people or frozen hiring. He graduated with a computer science degree in December 2021, a time he now sees as “the beginning of the end” for the most recent tech boom. “My biggest chances of getting a job in the U.S. kind of tanked,” he said, because of the recent layoffs. At colleges and universities, interest in computer science soared during the most recent tech boom. Lam, who’s scheduled to graduate in December 2023, said he originally thought the layoffs in tech would hurt junior-level people the most.

☆ The latest terrible news for the stock market: The economy is booming again
▼ + stars: | 2022-11-30 | by ( Neil Dutta | ) www.businessinsider.com time to read: +7 min

Yes, the Fed has slowed activity in certain corners — most notably the housing market — but by and large the economy is still standing. When that happens, investors and consumers better buckle up: There will be more pain ahead for the stock market and the US economy. For a Fed that is trying to slow the economy, this is not a welcome development. At a minimum, it's tough to cut interest rates when the economy is defying expectations. If that's right, we might be seeing yet another false dawn in the stock market.

☆ House Majority Undecided as Democrats Keep Senate Control
▼ + stars: | 2022-11-13 | by ( Chad Day | ) www.wsj.com time to read: 1 min

Republicans and Democrats are waiting for election results that might not be known for days. WASHINGTON—Control of the House of Representatives remained unsettled Sunday after Democrats won a crucial victory in Nevada to retain their hold on the Senate. The GOP appeared on track toward winning the barest of House majorities, nonpartisan analysts said, but the final outcome hinged on races, mostly on the West Coast, that remain too close to call. Both parties were girding for results that might not be known for days.

☆ Many House Races Too Close to Call as Republicans Make Gains
▼ + stars: | 2022-11-11 | by ( Joshua Jamerson | Katy Stech Ferek | ) www.wsj.com time to read: 1 min

WASHINGTON—Control of the U.S. Senate and House of Representatives still hinged on races that were too close to call as of early Friday morning, with both parties girding for a final outcome that might not be known for days. Tuesday’s election-night roller coaster, with Democrats faring much better than either party expected, has morphed into a several-day slog. Republicans and Democrats were awaiting results in uncalled races while poring over various scenarios on how a party can capture the majority.

Cloud services for years has been one of the largest and most dependable sources of growth for some of the biggest tech companies, including during the pandemic as people worked and studied from home. Growth in Amazon Web Services (AWS), the firm's lucrative cloud unit serving enterprises, has ticked down consistently in the past four quarters, adjusted for changes in forex. "The AWS slowdown is a clear sign that businesses are beginning to trim costs, so this will likely put more of a squeeze on Amazon's bottom line in the coming quarters," said Andrew Lipsman, principal analyst at Insider Intelligence. Alphabet's Google Cloud revenue grew 38% in the quarter, beating estimates. Cloud services typically help companies save money so budget cuts in this sector could be especially worrying, indicating that companies think cost is king going into tougher times.

☆ Amazon set to report third-quarter earnings after the bell
▼ + stars: | 2022-10-27 | by ( Annie Palmer | ) www.cnbc.com time to read: +3 min

Andy Jassy, CEO of Amazon and then CEO of web services at Amazon.com Inc., speaks during the Amazon Web Services (AWS) Summit in San Francisco, California, U.S., on Wednesday, April 19, 2017. Amazon reports third-quarter earnings after the bell on Thursday. Those challenges have coincided with a slowdown in Amazon's core retail business, as consumers returned to shopping in stores. The forecast could signal how much demand Amazon expects to see during the holiday shopping period. Amazon shares have slid 31% so far this year, while the S&P 500 index has dropped nearly 20% over the same period.

☆ Russians dig in to defend key city of Kherson, Ukrainian forces say
▼ + stars: | 2022-10-26 | by ( Jonathan Landay | ) www.reuters.com time to read: +4 min

Kherson's capture could leave thousands of Russian troops trapped on the Dnipro's western bank unable to cross easily to the east. Expectations rose last week that Russian forces were girding to relinquish Kherson, when Moscow-appointed occupation authorities began evacuating tens of thousands of residents by ferries to the Dnipro's east bank. Kherson is the only regional capital Russian forces have taken in the "special military operation" Putin launched in February. But the commander of the Ukrainian unit visited by Reuters on Wednesday saw no sign of Russians leaving. Rusting hulks of Russian armored vehicles marked confrontations with Ukrainian troops who advanced last month some 20 km (12.4 miles) in two days to their current lines.

☆ Winter’s Onset Will Change Russia’s War in Ukraine
▼ + stars: | 2022-10-24 | by ( Matthew Luxmoore | Stephen Fidler | ) www.wsj.com time to read: 1 min

KYIV, Ukraine—Winter is approaching on the Ukrainian steppe. As temperatures fall, waves of chilling rain follow, dissolving roads and fields, turning them to mud that mires men and equipment. Then comes the deep freeze and snow, hardening the ground but making it tougher to fight. Armies on both sides of the war in Ukraine are girding for the unforgiving weather and shorter days of winter, which will affect the health and morale of troops, diminish the effectiveness of weapons and intelligence-gathering sensors and multiply the logistical difficulties of keeping soldiers in the field.

Federal officials working on the government response to Covid-19 made well-timed financial trades when the pandemic began—both as the markets plunged and as they rallied—a Wall Street Journal investigation found. In January 2020, the U.S. public was largely unaware of the threat posed by the virus spreading in China, but health officials were on high alert and girding for a crisis.

☆ Cops on Brazil's campaign trail call for backup as violence spikes
▼ + stars: | 2022-09-27 | by ( Gabriel Stargardter | ) www.reuters.com time to read: +10 min

They asked the top Federal Police officers in each state to reinforce Lula campaign events with bulletproof cars, tactical teams, drones and intelligence reports. Some of them have responded by stockpiling guns and lashing out at leftists during a tense campaign marred by high-profile cases of violence. Ten years of troubles have resulted in stark political polarization - embodied by Lula and Bolsonaro - that has become increasingly menacing on the campaign trail. BOLSONARO STRONGHOLDSThe Federal Police have also sought to open two other criminal probes over threats to Lula, according to the source. Lula has just 27% support in Santa Catarina, against 49% for Bolsonaro, according to the latest survey by pollster Ipec.

☆ Morning Bid: Not so calm before the storm
▼ + stars: | 2022-09-19 | by ( ) www.reuters.com time to read: +2 min

Register now for FREE unlimited access to Reuters.com RegisterU.S. Dollar banknotes are seen in this illustration picture taken June 14, 2022. Register now for FREE unlimited access to Reuters.com RegisterThe yield on the U.S. benchmark 10-year note hit its highest level since 2011, touching 3.518% although it then pulled back. A rate hike of 75 basis points is expected, with markets pricing in roughly one-in-five odds of a full percentage point hike. In a Reuters poll, 75% of market participants predicted no change to either the one-year loan prime rate or the five-year. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Mortgages and credit cards are about to get even more expensive. It's nothing compared to what we'll see by the end of the year.
▼ + stars: | 2022-09-18 | by ( Ben Winck | Madison Hoff | ) www.businessinsider.com time to read: +5 min

Higher-than-expected inflation in August means the Fed will likely back another jumbo-sized rate hike next week. Rate increases have already made mortgages, car loans, and credit cards much pricier for Americans. Fed officials have been clear that they'll only pull back on their rate hikes once they see "compelling evidence" that inflation is slowing down. And since it usually takes around one year for rate hikes to be fully felt throughout the economy, those tightening effects are set to only get more intense. Fed officials have also made it clear that they want to avoid the biggest risks that come with monetary tightening.

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