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☆ Watch CNBC’s full interview with NewEdge's Cameron Dawson, Firstmark Capital’s Rick Heitzmann and BNY Mellon’s AJ Oden
▼ + stars: | 2022-10-28 | 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 EmailWatch CNBC’s full interview with NewEdge's Cameron Dawson, Firstmark Capital’s Rick Heitzmann and BNY Mellon’s AJ OdenNewEdge's Cameron Dawson, Firstmark's Rick Heitzmann and BNY Mellon’s AJ Oden, join 'Closing Bell: Overtime' to discuss the longest rally for the Dow since 2021, the Fed and its impact on market outlook.

The Musk video by reAlpha included “robust disclaimers” establishing it as satire, said Christie Currie, chief marketing officer. The first Musk video went live days after reAlpha launched a public offering under regulation A+ in 2021. But the ease of creating deepfakes means some celebrities could soon be deluged by ads featuring their unauthorized, but very convincing likenesses, Mr. Moss said. At the same time, the language in contracts written years before the technology existed may be vague enough to allow marketers to use existing footage to create new deepfake videos. Companies most often request celebrity deepfake videos to use internally for training, communications, parties or other purposes—but not for ads, said Daynen Biggs, owner of Slack Shack Films, which produced the Elon Musk videos.

☆ Stock picking isn't dead. But it might as well be for most investors
▼ + stars: | 2022-10-25 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +4 min

Index funds tend to be cheaper. Obviously, index provider S&P Global (SPGI) has a vested interest in promoting passive funds backed to various benchmark indexes. Even legendary investing guru Warren Buffett of Berkshire Hathaway (BRKB) has extolled the virtues of index funds for average investors. He noted that just one of every four active funds beat their passive benchmarks over the ten years ending in June. That’s why some investors aren’t singing a funeral dirge for active stock picking – just yet.

☆ U.S. yields climb as hawkish Fed concerns outweigh weaker economic data
▼ + stars: | 2022-10-24 | by ( Davide Barbuscia | ) www.reuters.com time to read: +3 min

Speculation about a potentially more dovish Fed - despite U.S. inflation remaining hot - was visible in money markets. But they climbed back again, with the benchmark 10-year Treasury yields up at 4.229% and two-year note yields at 4.498%. On the long end, 30-year Treasury yields rose to an 11-year high of 4.359%. "If the Fed is going to be data dependent, these data points should be a focus point for them. Whether or not that actually happens, is yet to be seen," said Matthew Miskin, co-chief investment strategist at John Hancock Investment Management.

General view of Saudi Aramco's Ras Tanura oil refinery and oil terminal in Saudi Arabia May 21, 2018. JPMorgan and Goldman Sachs made nearly $77 million and $42 million respectively in investment banking fees in Saudi Arabia last year, Refinitiv data showed. "For the most part, I do not see U.S. companies actively avoiding Saudi Arabia due to recent political tensions," said Adel Hamaizia, managing director at Highbridge Advisory and a visiting fellow at Harvard University. FDI FLATForeign direct investment still lags behind targets, though there has been movement in new sectors as the kingdom opens up. As Boeing netted an $80 million defence contract last year, Fedex announced a $400 million 10-year investment plan in the country, the Arab world's biggest economy.

☆ Gov. Gavin Newsom is threatening to cancel a San Francisco toilet that could cost $1.7 million and take more than two years to build
▼ + stars: | 2022-10-22 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +3 min

Gavin Newsom is threatening to halt plans for a $1.7 million toilet in San Francisco. The city's Rec and Park department said the costs included planning, drawing, permits, and reviews. Gavin Newsom is threatening to halt plans to build a public toilet in San Francisco after it received huge backlash over its $1.7 million cost and 2-year construction time. "A single, small bathroom should not cost $1.7 million," Erin Mellon, the governor's communications director, told the Chronicle in a statement. "The state will hold funding until San Francisco delivers a plan to use this public money more efficiently.

☆ Bid deadline for India's Future Retail extended due to low interest -sources
▼ + stars: | 2022-10-21 | by ( Nupur Anand | ) www.reuters.com time to read: +2 min

MUMBAI, Oct 21 (Reuters) - The resolution professional for India's debt-laden Future Retail Ltd (FRTL.NS) has extended the deadline for potential buyers to submit their bids for the retailer, due to tepid interest, two banking sources said on Friday. The deadline had ended on Oct. 20, but has been extended to Nov. 3, according to an updated document released by the resolution professional (RP). Register now for FREE unlimited access to Reuters.com RegisterFuture Retail's RP did not immediately respond to an email seeking comment. Future Group's flagship retail unit, Future Retail was once the country's second-largest retailer but has been in bankruptcy proceedings after it defaulted on loans and its lenders rejected a $3.4 billion sale of its assets to market leader Reliance Industries (RELI.NS). The lead lenders include Bank of India (BOI.NS) and State Bank of India (SBI.NS).

☆ U.S. student debt relief: What you need to know now
▼ + stars: | 2022-10-20 | by ( Chris Taylor | ) www.reuters.com time to read: +6 min

But the Biden administration’s new U.S. student debt relief program is not just an academic subject for her. That is because McKay is still dealing with student debt from her days getting a graduate degree at Carnegie Mellon University. So she is not just studying the student debt relief application that went live the other day (https://studentaid.gov/debt-relief/application) – she is filling it out herself. When and if the debt relief goes through, your loan servicer will let you know. BEWARE OF SCAMSThe student debt relief program has already brought scammers out of the woodwork, warns the Federal Trade Commission (https://consumer.ftc.gov/consumer-alerts/2022/10/now-student-loan-debt-relief-application-open-spot-scams).

☆ Morgan Stanley gives its favorite buy and sell picks into earnings reports
▼ + stars: | 2022-10-18 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

A highly anticipated corporate earnings season has just kicked off, and Morgan Stanley has highlighted which stocks to buy — or avoid. Given this backdrop, Morgan Stanley analysts looked for stocks that could experience big swings based on near-term catalysts, some positive and others negative. Morgan Stanley sees upside for Arcutis Biotherapeutics if the biotech company's two phase-two studies for its drug Zoryve are successful. "We would expect significant investor focus on these data sets, and our statistical analysis suggests a high probability-of-success (POS) for both trials," wrote Morgan Stanley analyst Vikram Purohit. Meanwhile, Logitech is one of the stocks Morgan Stanley expects to decline due to negative earnings.

☆ Wall Street rallies after BofA results, UK reversal
▼ + stars: | 2022-10-17 | by ( Chuck Mikolajczak | ) www.reuters.com time to read: +4 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 7, 2022. Register now for FREE unlimited access to Reuters.com RegisterFellow financial Bank of NY Mellon Corp (BK.N) also benefited from higher interest rates, and its shares climbed 5.08%. The S&P 500 banks index (.SPXBK) was up 3.48%, while each of the 11 major S&P 500 sector were higher. Tesla Inc (TSLA.O), Netflix (NFLX.O) and Johnson & Johnson (JNJ.N) are among companies expected to report results later in the week. The S&P 500 posted no new 52-week highs and 2 new lows; the Nasdaq Composite recorded 83 new highs and 146 new lows.

☆ Wall Street jumps after BofA results, UK reversal
▼ + stars: | 2022-10-17 | by ( Chuck Mikolajczak | ) www.reuters.com time to read: +4 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 7, 2022. Fellow financial Bank of NY Mellon Corp (BK.N) also benefited from higher interest rates, and its shares climbed 5.23%. Overall, higher rates boosted interest incomes for lenders in the third quarter, giving investors hope the current earnings season will be better-than-feared. The S&P 500 Growth index (.IGX) gained 3.57%,Tesla Inc (TSLA.O), Netflix (NFLX.O) and Johnson & Johnson (JNJ.N) are also expected to report results later in the week. The S&P 500 posted no new 52-week highs and 2 new lows; the Nasdaq Composite recorded 65 new highs and 122 new lows.

Register now for FREE unlimited access to Reuters.com Register"This is a direct result of higher interest rates offered by the banks looking very attractive compared to other risk assets. Bank of NY Mellon Corp (BK.N) also benefited from higher rates, sending its shares up 6.1%. Overall, higher rates boosted interest incomes for lenders in the third quarter but turbulent markets choked off dealmaking and banks set aside more funds to brace for an economic slowdown. read moreThe S&P 500 banks index (.SPXBK) was up 3.8%. All the 11 S&P 500 sector indexes were higher with technology (.SPLRCT), communication services (.SPLRCL) and consumer discretionary (.SPLRCD) leading with near 3% gains each.

☆ Wall Street set to open higher as BofA rises on earnings beat
▼ + stars: | 2022-10-17 | by ( Ankika Biswas | ) www.reuters.com time to read: +3 min

Bank of America Corp (BAC.N) rose 2.8% in premarket trading as the lender benefited from higher net interest income in its third quarter, even though it added $378 million to its loan-loss reserves. Register now for FREE unlimited access to Reuters.com Register"This is a direct result of higher interest rates offered by the banks looking very attractive compared to other risk assets. Bank of NY Mellon Corp (BK.N) also benefited from higher rates, sending its shares up 4.7%. Overall, higher rates boosted interest incomes for lenders in the third quarter but turbulent markets choked off dealmaking and banks set aside more funds to brace for an economic slowdown. Tesla Inc (TSLA.O), Netflix (NFLX.O) and Johnson & Johnson (JNJ.N) are also expected to report results later in the week.

☆ Stocks making the biggest moves premarket: Continental Resources, Bank of America, Apple and others
▼ + stars: | 2022-10-17 | by ( Peter Schacknow | ) www.cnbc.com time to read: +2 min

Bank of America (BAC) – Bank of America jumped 3.1% in premarket trading after beating top and bottom line estimates in its third-quarter earnings report. News Corp. (NWSA), Fox Corp. (FOXA) – News Corp. gained 3.5% in the premarket while Fox Corp. slid 4.1%. Meta Platforms (META) – Meta is falling short of its goals for its flagship metaverse product "Horizon Worlds", according to internal documents seen by the Wall Street Journal. Goldman added 1% in premarket trading. Archaea Energy (LFG) – The natural gas producer's shares soared 51.1% in premarket trading after agreeing to be acquired by BP (BP) for $26 per share.

☆ Wall St futures higher with focus on earnings
▼ + stars: | 2022-10-17 | by ( ) www.reuters.com time to read: +2 min

SummarySummary Companies Futures: Dow 0.78%, S&P 0.93%, Nasdaq 1.12%Oct 17 (Reuters) - U.S. stock index futures were higher on Monday, after a roller-coaster week, as investors focused on the third-quarter earnings season to assess the impact of decades-high inflation and rising interest rates on corporate profit. Tesla Inc (TSLA.O), Netflix (NFLX.O) and Johnson & Johnson (JNJ.N) are also expected to report their results later in the week. Analysts now expect profit for S&P 500 companies to have risen just 3.6% from a year ago, much lower than an 11.1% increase expected at the start of July, according to Refinitiv IBES data. ET, Dow e-minis were up 231 points, or 0.78%, S&P 500 e-minis were up 33.5 points, or 0.93%, and Nasdaq 100 e-minis were up 120.75 points, or 1.12%. Investors now await another test for gilts from a new tax proposal due later in the day from Kwarteng's successor Jeremy Hunt.

☆ Premarket stocks: The housing market is a mess, but this isn't 2008
▼ + stars: | 2022-10-17 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

But within those reports, investors found ominous clues about the future of the housing market, underscoring fears of an upcoming crisis. “We’ve had a time of a red-hot housing market all over the country,” Fed President Jerome Powell told me in September. “For the longer term what we need is supply and demand to get better aligned so that housing prices go up at a reasonable level…and people can afford houses again. “This is the sharpest turn in the housing market since the housing market crash in 2008,” said Redfin’s chief economist, Daryl Fairweather, last month. What’s next: Investors will next look to housing starts data next week as an indicator of where the housing market is headed.

☆ Stocks making the biggest moves midday: Roblox, Continental Resources, Fox Corp and more
▼ + stars: | 2022-10-17 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

Fox Corp , News Corp — Fox shares dropped 8%, while News Corp gained more than 4% after Rupert Murdoch formed a special committee to explore a possible deal that would put his two media companies back together. Wells Fargo reiterated its equal weight rating on the streaming service ahead of the company's earnings this week. Speculative tech stocks — South American e-commerce stock Mercadolibre surged 11%, while Chinese tech stock Pinduoduo jumped more than 6%. Bank stocks — Several bank stocks moved higher Monday on positive earnings for the sector. Bank of NY Mellon gained 4.9% following its earnings beat and Signature Bank , set to report earnings on Tuesday, jumped 6%.

☆ Stock futures rise after Nasdaq notches best day since July
▼ + stars: | 2022-10-17 | by ( Carmen Reinicke | ) www.cnbc.com time to read: +1 min

Stock futures rose Monday evening after the Nasdaq Composite posted its best daily performance since July. S&P 500 futures jumped 0.49% and Nasdaq 100 futures climbed 0.55%. The Nasdaq surged 3.43% as tech stocks rebounded, led by names such as Amazon, Meta Platforms and Microsoft. More big bank earnings are on deck. Johnson & Johnson, Netflix and United Airlines will also announce results that day.

☆ Tesla investors try to ignore Musk's many distractions
▼ + stars: | 2022-10-16 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +7 min

While that’s good news for Twitter’s long-suffering shareholders, Tesla investors hope he still has some time for them. There are big challenges in China as well, with Tesla going up against homegrown EV rivals like Nio (NIO), Xpeng and Li Auto. Too many distractionsGary Black, managing partner at the Future Fund and a Tesla shareholder, has been tweeting for the past few weeks that concerns about Twitter are a headache for Tesla investors. In one tweet, Black said there are several problems for Tesla due to Twitter. The underwhelming deliveries and production numbers also underscore how a slowing global economy (and possible recession) could hurt Tesla.

☆ A Goldman Sachs alum turned crypto exec breaks down why Wall Street's next push into digital assets will be through bitcoin
▼ + stars: | 2022-10-15 | by ( Morgan Chittum | ) www.businessinsider.com time to read: +4 min

John Haar, a managing director at digital asset services platform Swan Bitcoin, previously had a 12-year stint at Goldman Sachs. He says bitcoin is the biggest contender to gain traction in legacy finance and pull institutional interest in further. Investors saw the first wave of institutional interest in crypto through bitcoin as well. First, the value prop of bitcoin, Haar says, is the concept of "sound money," a currency that isn't prone to a sudden depreciation or appreciation in value. "I think Bitcoin is an easier sell, but I think we're still very early in terms of them potentially getting on board.

☆ October's wild trading could give way to a new stock rally, as earnings roll out in the week ahead
▼ + stars: | 2022-10-14 | by ( Patti Domm | In | ) www.cnbc.com time to read: +8 min

But Emanuel sees the chance for a 17% to 20% rally in the S & P 500. The S & P 500 was down about 0.9% for the week, as of Friday afternoon, and it was hovering just above 3,600. S & P 500 earnings are expected to grow by 3.6% for the third quarter, based on actual reports and estimates, according to Refinitiv. Without the boost from more than doubling profits from energy companies, S & P earnings would decline by 3.1%. Week ahead calendar Monday Earnings: Bank of America , Bank of NY Mellon, Charles Schwab 8:30 a.m.

☆ Investing Club: The week in review, the week ahead — Oct. 14, 2022
▼ + stars: | 2022-10-14 | by ( Zev Fima | ) www.cnbc.com time to read: +6 min

Club trades for the week Monday Bought 20 shares of Constellation Brands (STZ); Trust owns 390 shares of STZ. On Wednesday, the September producer price index was reported to have risen 0.4% monthly, double the expectation. On Thursday, the September consumer price index was also reported to have increased 0.4% monthly, above the expectation for a 0.3% increase. Excluding automobile sales, sales were up 0.1% slightly ahead of the expectations. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ For 1st time, names of Japanese Americans incarcerated during WWII collected. Families stamp them in emotional tribute.
▼ + stars: | 2022-10-13 | by ( Claire Wang | ) www.nbcnews.com time to read: +2 min

Burroughs also noted the historical significance of the museum itself, which sits on a plaza where, 80 years ago, hundreds of Japanese American families lined up and boarded buses to incarceration camps. “I consider it to be one of those ground zero points in the civil rights history of this country,” she said. The Ireichō is one phase of the Irei Monument Project, an interactive, multifaceted memorial founded by Rev. Clement Hanami, the museum’s art director and vice president of exhibitions, said Williams has compiled the most accurate and extensive record to date of Japanese American incarceration. “It’s a very Japanese and Japanese American way of respecting the ancestors and their histories,” Hanami said.

JPMorgan & Chase (JPM.N), Citigroup, Deutsche Bank (DBKGn.DE) and BNY Mellon act as depositary banks for most Russian depositary receipt programs, according to Clearstream. In statements to clients, some banks cited difficulties verifying there are enough shares to execute cancellations of depositary receipts. For example, BNY Mellon cited such a difficulty with Global Depositary Receipts in Russian gas company Novatek. While depositary receipts are under custody of global banks, the shares they represent are parked in Russia. Investors are meanwhile discussing ways online to meet the Russian requirements and how to pay fees to Russian banks.

☆ Amid talk of a recession, experts share why now is a good time to start a business and which industries are the most promising
▼ + stars: | 2022-10-13 | by ( Alexandra York | ) www.businessinsider.com time to read: +7 min

While the prospect of an economic downturn can be worrying, indicators suggest it's still a good time to start a business. "When starting a business, your capital needs are as low as they're ever going to be," he said. Mawhinney, along with an economist, a business coach, and an entrepreneur, each shared their predictions for the coming years and why they encourage aspiring business owners to jump on the entrepreneurial bandwagon now. "But what we're seeing now is they've realized that employment itself is risky, and it's become easier to start that business." She encourages her coaching clients, who are aspiring entrepreneurs and freelancers, to take advantage of the new opportunities.

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