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☆ Biden calls on Congress to fund government as Moody's and Wells Fargo warn of shutdown effects
▼ + stars: | 2023-09-26 | by ( Emma Kinery | ) www.cnbc.com time to read: +3 min

U.S. President Joe Biden speaks during an event announcing a new White House Office of Gun Violence Prevention, in the Rose Garden of the White House in Washington, D.C., Sept. 22, 2023. WASHINGTON — President Joe Biden on Tuesday asked Congress in a social media post to fund the government as warnings grew that a looming shutdown could harm the U.S. credit rating and dollar. "There's a small group of extreme House Republicans who don't want to live up to that deal," Biden said in the video, posted on X, formerly known as Twitter. Moody's, the only major credit rating agency to still give U.S. sovereign credit a top AAA rating, on Monday said a shutdown would affect that rating. Another major credit rating agency, Fitch, last month downgraded the U.S. long-term foreign-currency issuer default rating.

Persons: Joe Biden, Biden, I'm, Wells, Fitch, Moody's Organizations: White, Washington , D.C, WASHINGTON, Tuesday, Biden, Republicans, Representatives, Republican, AAA, U.S Locations: Rose, Washington ,, America

☆ Live sports is migrating to streaming, taking with it a superpower of the cable TV bundle
▼ + stars: | 2023-09-21 | by ( Oliver Darcy | ) edition.cnn.com time to read: +4 min

CNN —The cable bundle is losing its biggest edge over the streaming competition: live sports. For years, live sports and news have been the cornerstone of the immutable cable bundle. Max is set to launch a live news channel next week, with the birth of CNN Max, the first cable news network to offer a 24/7 live streaming news service. With live news and sports now making their way to streaming, piece by piece, the Jenga puzzle of the cable bundle has started to destabilize. Once ESPN is available directly to consumers, the decades-long grip of the traditional cable bundle will surely fade considerably.

Persons: Max, CNN Max, ” Michael Pachter, Pachter, ” Pachter, Ross Benes, ” Benes, Benes, ” Rich Greenfield, Greenfield, ” Greenfield, ” Organizations: CNN, Warner Bros . Discovery, MLB, NHL, NBA, NCAA, U.S, Soccer, Apple, Major League Soccer, NBC, ABC News, CBS, ESPN, Wedbush Securities, “, Insider Intelligence, Disney, Diamond Sports, Warner Bros, Discovery, LightShed Partners

☆ Opinion | When I Stopped Trying to Self-Optimize, I Got Better
▼ + stars: | 2023-09-17 | by ( Francis Sanzaro | ) www.nytimes.com time to read: +2 min

On a whim, I told myself that on my next attempt, success or failure was irrelevant. At some point, I framed this experience for myself in terms of simple arithmetic: When I added (determination, grit, self-confidence, desire), I failed. When I took away (the desire for success), my body moved with greater fluidity and naturalness. I enjoyed it more as well, which, as an athlete of 30 years, I didn’t think was possible. Reading about what top athletes considered the ideal state of mind led me to a few surprising conclusions.

Persons: ”, Ken Ravizza, “ Organizations: Reading

☆ Elon Musk's control of Starlink gives him unchecked power over elected governments
▼ + stars: | 2023-09-13 | by ( Charles R. Davis | ) www.businessinsider.com time to read: +9 min

Elon Musk's control over Starlink is in the spotlight after he thwarted a Ukrainian attack. "If the Ukrainian attacks had succeeded in sinking the Russian fleet, it would have been like a mini Pearl Harbor and led to a major escalation," Musk told Isaacson. (Musk later reassured a Russian ambassador that Ukraine would not be able to use Starlink for offensive operations, according to Isaacson). AdvertisementAdvertisementAs Ukrainian officials see it, sinking Russia's fleet, if that was indeed a possibility, would have prevented hundreds of missiles from raining down on the country's infrastructure, and spared civilian lives. Even if it wanted to change Musk's mind, it is not clear that it can actually compel him to do anything when it comes to Ukrainian attacks on territory controlled by Russia.

Persons: Elon, Musk, —, Walter Isaacson, Isaacson, Starlink, Biden, Pettyjohn, it's, Paul Hennessy, David Frum, George W, Bush, Nicholas Grossman, Grossman, Joe Biden, Josh Marshall, cdavis@insider.com Organizations: Service, SpaceX, Fleet, Russian, Pentagon, Ukraine, Center, New, New American Security, Defense Department, Falcon, Getty, University of Illinois, Daily, Washington, Twitter Locations: Wall, Silicon, Sevastopol, Crimea, Ukraine, Crimean, Russian, Sevastopol —, United States, New American, Washington, Ukrainian, Russia

KANSAS CITY, Mo. (AP) — The Kansas City Chiefs are trending toward having at least one of their missing All-Pros on Sunday in Jacksonville. Chiefs coach Andy Reid said Monday that tight end Travis Kelce, who hyperextended his knee in practice last week, has been progressing in his recovery. "Travis is getting better," Reid said. There were spurts of good and there were spurts of not-so good, and we were in position to win the game.

Persons: Andy Reid, Travis Kelce, Reid, Rick Burkholder, Travis, “, Patrick Mahomes, Kadarius Toney, Brian Branch, Noah Gray, Blake Bell, We'll, ” Reid, it's, Chris Jones, Jason, Michael Katz, Jones, ”, Brett Organizations: KANSAS CITY, The Kansas City Chiefs, Chiefs, Lions, NFL, Kansas City, Jaguars Locations: KANSAS, Mo, The, Jacksonville, Detroit, Indianapolis

Sometimes, I've made my January mortgage payment in December to deduct the interest for that year. So heading into fall, I review my budget, income, and expenditures and target areas where I can cut back. Do an insurance reviewI check all insurance policies: homeowners insurance, renters insurance, car insurance (when I owned a car), and health. This is a great time to do a comprehensive insurance review. Bonus: Plan for an extra mortgage payment and charitable contributionsIf you can, plan to make your January mortgage payment in December.

Persons: I've, it's, TransUnion —, transpire, you'll Organizations: Service Locations: Wall, Silicon

☆ Landing a new job right now could take you nearly 2 months, according to LinkedIn
▼ + stars: | 2023-08-16 | by ( Morgan Smith | ) www.cnbc.com time to read: +3 min

Could you wait seven weeks to start a new job? That's how long it's taking job seekers to go from submitting an application to their first day of work, according to new research from LinkedIn. For more senior roles, the average hiring cycle is seven weeks. Hiring has slowed from last year's breakneck pace, but the news isn't all bad for job seekers, says Luke Pardue, an economist at payroll provider Gusto. That, combined with the Federal Reserve's hefty interest rate hikes, has slowed hiring.

Persons: Luke Pardue, they're, Guy Berger, LinkedIn's, Berger, Pardue, It's, Warren Buffett Organizations: LinkedIn, Consulting, Federal Locations: U.S

☆ What to expect from the Fed’s decision on rates
▼ + stars: | 2023-07-26 | by ( Bryan Mena | ) edition.cnn.com time to read: +8 min

Fed Chair Jerome Powell’s remarks during an annual gathering of central bankers and economists in Wyoming next month could shed more light on what to expect for the September decision. There are three possibilities for what the Fed might do moving forward, according to economists: a second consecutive rate hike in September, one in November, or no more rate hikes after July. The Commerce Department releases the June reading of the Fed’s favorite inflation measure Friday. The Fed held rates steady for nine straight meetings over the span of a year the last time it paused a rate-hiking campaign in 2006. Nearly all of the Fed’s decisions have been unanimous since the central bank began lifting rates in March 2022, with the exception of two meetings early in the Fed’s current inflation battle.

Persons: it’s, Jerome Powell’s, It’s, haven’t, inflation’s, Ben Bernanke, Raphael Bostic, there’s, hawkish, “ Powell, ” Seema Shah, Powell, Christopher Waller, you’re, ”, José Torres, ” Powell, Jerome Powell Organizations: DC CNN, Federal, Fed, Commerce Department, Market Committee, Atlanta Fed, Asset Management, CNN, ”, The Labor Department, Interactive Locations: Washington, Wyoming, —

☆ What to expect from this week’s Fed meeting
▼ + stars: | 2023-07-25 | by ( Bryan Mena | ) edition.cnn.com time to read: +8 min

After the Fed’s July monetary policy meeting, which concludes on Wednesday, investors will be looking for more details around that potential hike. That’s why the Fed is trying to retain the option of another rate increase in case inflation proves to be more resilient than expected. Fed Chair Jerome Powell’s remarks during an annual gathering of central bankers and economists in Wyoming next month could shed more light on what to expect for the September decision. There are three possibilities for what the Fed might do moving forward, according to economists: a second consecutive rate hike in September, one in November, or no more rate hikes after July. Whatever the Fed decides to do won’t come without a vigorous debate, and perhaps even a dissent, though the Fed has a tradition of collegiality.

Persons: —, it’s, Jerome Powell’s, It’s, haven’t, inflation’s, Ben Bernanke, Raphael Bostic, there’s, hawkish, “ Powell, ” Seema Shah, Powell, Christopher Waller, you’re, ”, José Torres, ” Powell, Jerome Powell Organizations: DC CNN, Federal, Fed, Commerce Department, Market Committee, Atlanta Fed, Asset Management, CNN, ”, The Labor Department, Interactive Locations: Washington, Wyoming, —

☆ JPMorgan says stocks' risk/reward is 'poor,' recommends adding to cash and gold holdings
▼ + stars: | 2023-05-23 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

It's time for investors to build out their cash and gold positions, said JPMorgan chief strategist Marko Kolanovic. The S & P 500 is standing near year-to-date highs, after notching its best week since March last week on hopes of a debt ceiling resolution. Given this, the chief strategist recommends investors take a more defensive stance in their portfolios, saying he favors cash and gold over energy, equities and credit. Meanwhile, in commodities, he added to his gold allocation by cutting two percentage points from his energy holdings, according to the note. "Within commodities, we rotate from energy (given recession risks and a potentially fading China growth impulse), to gold following its recent sell-off (on its safe-haven demand and as a debt ceiling hedge)," he added.

Persons: Marko Kolanovic, Stocks, Kolanovic, they're Organizations: JPMorgan, Nasdaq, Federal Reserve Locations: China

☆ Exxon Mobil is reportedly interested in buying Pioneer. Here's what it could mean for the Club oil name
▼ + stars: | 2023-04-10 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +5 min

Pioneer Natural Resources (PXD) is an oil stock worth owning on its own merits. But a fresh report that Exxon Mobil (XOM) could acquire the Club holding would likely unlock even more value. "That's not to say if Exxon Mobil offered a 25% premium, it wouldn't be done. If you saw a 25% premium, I think that would bring them to the table because, let's be realistic, every independent wants to be acquired by Exxon Mobil." Pioneer's attractiveness stems in large part from its quality acreage and low oil price breakevens, at roughly $39 per barrel.

☆ Morgan Stanley turns 'outright bullish' on stocks in Asia, emerging markets
▼ + stars: | 2023-03-22 | by ( Jihye Lee | ) www.cnbc.com time to read: +3 min

Morgan Stanley strategists say it's "time to turn bullish" on Asia and emerging markets' growth stocks. Growth stocks will benefit from such easing financial conditions, they said. Morgan Stanley said the latest economic data from the region also point toward strong momentum ahead. "From quant perspectives, we believe liquidity is now on our side," the strategists wrote. Asia may be better placed Morgan Stanley said in a separate note that Asia markets are likely to still outperform their global peers in developed markets amid the latest banking sector turmoil.

In both the United States and Europe, the words of central bankers led investors to cut their estimates of the peak or "terminal" rate expected in the current tightening cycle. With financial conditions loosening despite rising policy rates, "central banks must...be resolute in their fight against inflation and ensure policy remains appropriately tight long enough to durably bring inflation back to target," Adrian and others wrote. The European Central Bank seems furthest from a likely stopping point. Combined, the statements mark the start of the endgame for central banks that were slow to recognize the onset of inflation last year before engaging in a record-setting round of rate increases. Central bankers long ago stopped using the word "transitory" in reference to inflation that proved faster and more persistent than any expected.

☆ POLL Global 2023 economic view downgraded, at odds with market optimism
▼ + stars: | 2023-01-26 | by ( Hari Kishan | ) www.reuters.com time to read: +5 min

The 2023 growth forecast is well behind an International Monetary Fund forecast of 2.7% that was issued in October and is due to be updated next week. Much will depend on how much success the world's major central banks can claim from roughly a year's worth of historically aggressive interest rate hikes that are not over yet. Reuters poll graphic on the global growth outlookConsensus gross domestic product growth forecasts for 2023 for more than 80% of economies surveyed were downgraded from the October poll. That suggests central banks have no room to even consider lowering rates any time soon. "We see good reasons to believe that the global economy still has a tough year ahead," economists at Citigroup said.

☆ Global 2023 economic view downgraded, at odds with market optimism - Reuters poll
▼ + stars: | 2023-01-26 | by ( Hari Kishan | ) www.reuters.com time to read: +5 min

The 2023 growth forecast is well behind an International Monetary Fund forecast of 2.7% that was issued in October and is due to be updated next week. Much will depend on how much success the world's major central banks can claim from roughly a year's worth of historically aggressive interest rate hikes that are not over yet. Reuters poll graphic on the global growth outlookConsensus gross domestic product growth forecasts for 2023 for more than 80% of economies surveyed were downgraded from the October poll. That, alongside six of the eight major central banks not being expected to hit their inflation targets this year, suggests speculation over lower rates could be premature. "We see good reasons to believe that the global economy still has a tough year ahead," economists at Citigroup said.

☆ Here's how to invest in 2023 as 2 major risks threaten the US economy, according to an investment analyst
▼ + stars: | 2023-01-14 | by ( Phil Rosen | ) www.businessinsider.com time to read: +3 min

In an interview with Insider, eToro investment analyst Callie Cox highlighted the two biggest risks to monitor this year. "The kicker here is that services inflation is the type of inflation that the Fed can best control through the job market," she said. "But one bright spot of this scenario," Cox said, "is that it would take care of the inflation problem because when demand drops, inflation comes down." And as far as stocks, Cox likes a defensive positioning with consumer staples, utilities, energy, and pharmaceutical companies. "If we do hit a recession," Cox said, "it's a great time to slowly build up your risk appetite in anticipation of us getting through it."

☆ Bitcoin jumps above $18,000 to highest level in a month, as FTX lawyers recover $5 billion
▼ + stars: | 2023-01-12 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

Bitcoin on Thursday surged to its highest price in nearly a month, as traders bet on an U.S. inflation cooldown and digest news that lawyers for defunct crypto exchange FTX found billions of dollars' worth of assets, boosting hopes for its users. On Wednesday, attorneys for collapsed crypto exchange FTX said they had found around $5 billion in "liquid" assets, including cash and digital assets. The recovery will be a welcome boon to FTX customers after the crypto exchange imploded in November. FTX lawyers nevertheless warned the $5 billion cache was so high that selling the assets could lead to significant downside pressure on the market, driving down their value. "This could also mean that the market thinks the worst is over for crypto and that most negative news in now priced in."

☆ Piper Sandler upgrades Coty, says China exposure could boost beauty stock in 2023
▼ + stars: | 2023-01-03 | by ( Sarah Min | ) www.cnbc.com time to read: +1 min

Beauty stock Coty could have a strong 2023, according to Piper Sandler. Analyst Korinne Wolfmeyer upgraded shares of Coty to overweight from neutral, saying in her 2023 beauty and wellness outlook that the stock is poised to benefit from several macro developments. However, the analyst expects that increasing exposure to China and travel retail will help the stock recover, while doubling down on luxury skincare and fragrance will boost margins for the company. The analyst's $10 price target, up from $8, implies the stock can rise more than 16% from Friday's closing price. Shares of Coty are up more than 2% in Tuesday premarket trading.

☆ Sen. Susan Collins pressed Ivanka Trump to convince Donald Trump to stop Jan. 6 riot, new transcripts reveal
▼ + stars: | 2022-12-24 | by ( Hannah Getahun | ) www.businessinsider.com time to read: +4 min

The January 6 committee released a transcript of Ivanka Trump's interview.`The transcript revealed that Sen. Susan Collins called Ivanka Trump during the Capitol riot. "It was a brief conversation," Ivanka Trump says, according to the transcript. The call from Collins is one of a few calls that Ivanka Trump received during the riot. Ivanka Trump also confirmed that Sen. Lindsey Graham called her from the Capitol building as events unfolded. The report also detailed Ivanka Trump imploring her father to quell the violence, noting that she appeared"visibly upset" after her father refused to listen to her.

☆ East-West battleground will shift from fossil fuels to metals
▼ + stars: | 2022-12-23 | by ( Lisa Jucca | ) www.reuters.com time to read: +4 min

MILAN, Dec 23 (Reuters Breakingviews) - The global trade war will shift from fossil fuels to metals and raw materials. Russia’s invasion of Ukraine highlighted the risk of relying on autocratic states for energy. Europe needs to cumulatively spend $5.3 trillion on clean energy projects by 2050. That requires a sixfold increase in the global production of copper, lithium, graphite, nickel and some rare earths by 2040, International Energy Agency estimates show. It refines 58% of lithium produced globally, 65% of cobalt and over one-third of nickel and copper.

☆ East-West battleground will shift to metals
▼ + stars: | 2022-12-23 | by ( Lisa Jucca | ) www.reuters.com time to read: +4 min

MILAN, Dec 23 (Reuters Breakingviews) - The global trade war will shift from fossil fuels to metals and raw materials. Europe needs to cumulatively spend $5.3 trillion on clean energy projects by 2050. That requires a sixfold increase in the global production of copper, lithium, graphite, nickel and some rare earths by 2040, International Energy Agency estimates show. It refines 58% of lithium produced globally, 65% of cobalt and over one-third of nickel and copper. That’s why Western nations’ best option is ultimately to recycle metals from used appliances.

☆ Bank of America double upgrades Netflix to buy, says ad subscriber tier can drive 23% upside
▼ + stars: | 2022-11-15 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

Netflix's monetization efforts make it an attractive stock despite slowing subscriber growth, Bank of America said Tuesday. Analyst Jessica Reif Ehrlich took over coverage of the stock and double upgraded it to buy from underperform. Ehrlich also has a price target of $370 on Netflix, implying upside of 23.6% from Monday's close. "Despite slower sub growth, we believe efforts to improve monetization via a value-oriented ad tier and significant conversion of password sharers has the potential to drive operating/financial upside." The streaming giant, which is using Microsoft for its ad needs, turned to the tier after years of rejecting the idea as a way to mitigate declines in subscriber growth.

☆ Here are Tuesday's biggest analyst calls: Tesla, Amazon, Netflix, First Solar, Carvana & more
▼ + stars: | 2022-11-15 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Tuesday's biggest calls on Wall Street: Loop reiterates Apple as buy Loop said it sees macro headwinds building for Apple. Morgan Stanley reiterates Tesla as overweight Morgan Stanley said investors should buy the dip in shares of Tesla. Morgan Stanley names CBOE a top pick Morgan Stanley said the global markets company has a compelling entry point. Barclays reiterates Amazon as overweight Barclays said it sees a favorable risk/reward for Amazon shares right now. " AMZN shares remain out of favor heading into peak holiday season owing to its sub-seasonal revenue guide and AWS deceleration."

☆ 'We're not a cult': GOP Sen. Bill Cassidy defends GOP leadership after the party's poor performance in the 2022 midterms
▼ + stars: | 2022-11-13 | by ( Katie Balevic | ) www.businessinsider.com time to read: +3 min

Sen. Bill Cassidy spoke up in defense of Republican leaders following disappointing midterm results. Cassidy said there's not "one person who leads our party" unless it's a sitting president. We're not like, 'Okay, there's one person who leads our party,'" Cassidy said. Much of the criticism has been aimed at former President Donald Trump after several of his hand-selected candidates lost their races. "I think our next candidate will be looking to the future, not to the past, and I think our next candidate will win.

☆ For your consideration: Warner-Discovery part two
▼ + stars: | 2022-11-03 | by ( Jennifer Saba | ) www.reuters.com time to read: +3 min

The Warner Bros Discovery (WBD.O) boss has encountered a series of problems since his splashy merger in April. A giant pile of borrowed money used to help cover the cash outlay to AT&T (T.N) for Warner Media looms large. Warner Bros Discovery counts more than 90 million subscribers for services such as HBO Max, less than half as many as at Disney and Netflix. There might be another $3 billion in savings, using the same 20% of EBITDA targeted by Warner Media and Discovery. Its shares have fallen about 48%, to nearly $12 apiece, since the merger of Discovery with AT&T’s Warner Media on April 8.

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