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Beyoncé approves of cowboycore
  + stars: | 2024-02-16 | by ( Leah Dolan | ) edition.cnn.com   time to read: +4 min
Completing her look were a pair of aviator-style shades, an embellished head scarf and a stone-colored cowboy hat. In fact, Beyoncé hasn’t been without a cowboy hat in nearly two weeks. On TikTok #cowboycore has 11.4 million views and counting, where users video themselves styling a wide-brimmed rancher cap or, as in one video, pairing vintage leather chaps with a belted trench coat. Cowboy boots, for one, were plucked from their country context and thrust onto the urban streets of metropolitan cities years ago. The embroidered leather boots have been a mainstay of the style set ever since, transcending over the years from a subversive statement piece to something more timeless.
Persons: , Houston , Texas —, Gaurav, Beyoncé hasn’t, Louis Vuitton, Stetson, There’s, Sunday Beyoncé, James Devaney, Bella Hadid, Tito, Hadid, klaxon, Kim Kardashian, Louis Vuitton’s, Tom Ford, Suzanne Plunkett, They’ve, Marilyn Monroe, Princess Diana, Britney Spears, Kate Moss, Celine, Raf Simons Organizations: CNN, Bushwick, New York, Sunday, Super Bowl, London Fashion, Reuters Locations: New, Houston , Texas, Texas, Weatherford , Texas, Paris
A well in Kazakhstan leaked 140,000 tons of methane into Earth's atmosphere in 2023, scientists say. Methane is estimated to be about 28 times more potent than carbon dioxide in global warming. AdvertisementThat amount of methane is equal to emissions from 791,318 gas-powered cars being driven over a year, per the Environment Protection Agency website's calculators. They detected 115 methane emissions over the six months of the Kazakh leak, their analysis said. AdvertisementBuzachi Neft, the operator of the well, denied to the outlet that such a vast amount of methane was leaked, saying only a "negligible" amount was released.
Persons: it's, Luis Guanter, Buzachi Neft Organizations: Service, BBC, Environment Protection Agency, Polytechnic University of Valencia, Business Locations: Kazakhstan, France, Spain, Netherlands, Europe
Remember, Jim Cramer kicked Tesla out and renamed the group of mega-cap market leaders the Significant Six. Mark your calendars: On Saturday, February 24, we'll be hosting our 2nd Annual Meeting for members of the CNBC Investing Club with Jim Cramer. 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, It's, Tesla, Wells Fargo, Eli Lilly, Foot, Danaher, we'll, Jim Cramer's, Jim Organizations: CNBC, Microsoft, Nvidia, Tesla, Club, GE Healthcare, UBS, HSBC, General, Linde, Disney, Apple, Alto Networks, Bausch Health, Coterra Energy, Walmart, Home, Jim Cramer's Charitable Locations: We're, Friday's, GEHC
Consumers remained largely sanguine about the economy and inflation in February, according to the latest sentiment survey from the University of Michigan released Friday. The February index rose 0.6 points to 79.6 after posting strong gains in the prior two months. The index of consumer expectations, a forecast of how Americans see the economy in the coming months, is now up 21.6% from a year ago. Expectations for inflation did tick up slightly, with the 12-month level now at 3%, up from 2.9% in January. “The upside surprise in the January PPI report echoes the month’s CPI report,” said Bill Adams, chief economist for Comerica Bank.
Persons: , Joanne Hsu, “ Consumers, Hsu, Jerome Powell’s, Ken Tjonasam, Powell, Bill Adams Organizations: University of Michigan, , PPI, Global, CPI, Comerica Bank, “ Labor
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC’s full interview with Hugh Johnson and Dynasty Financial’s Ron InsanaHugh Johnson and Dynasty Financial’s Ron Insana, join 'Power Lunch' to discuss what the PPI print may mean for the Feds next moves.
Persons: Hugh Johnson, Ron Insana Hugh Johnson, Ron Insana
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email2024 will be an abnormally normal year for the market and economy, says Dynasty's Ron InsanaHugh Johnson and Dynasty Financial’s Ron Insana, join 'Power Lunch' to discuss what the PPI print may mean for the Feds next moves.
Persons: Ron Insana Hugh Johnson, Ron Insana
LONDON — The U.K. economy slipped into a technical recession in the final quarter of last year, initial figures showed Thursday. Though there is no official definition of a recession, two straight quarters of negative growth is widely considered a technical recession. Across the whole of 2023, the British GDP is estimated to have increased by just 0.1%, compared to 2022. "These factors affected the performance of the services and construction sectors, which are the main drivers of the U.K. "Over the coming months, we expect inflation to fall, potentially easing the pressure on U.K. households, and supporting the recovery of the consumer-driven economy," Brookes added.
Persons: Jeremy Hunt, Marcus Brookes, Brookes, Neil Birrell Organizations: National Statistics, Reuters, Finance, Bank of England, Bank of England's, Quilter Investors, Premier Miton Investors Locations: British
One more down: Shares of Wells Fargo hit a new 52-week high after the Office of the Comptroller of the Currency terminated a 2016 consent order linked to its sales practices. This is the sixth consent order that regulators have terminated since 2019. Every consent order that is resolved brings the bank closer to having the Federal Reserve lift the asset cap that's been holding it back since February 2018. 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 .
Persons: Jim Cramer, Linde, Wells Fargo, Charlie Scharf, there's, GOOGL, It's, Jim Cramer's, Jim, Krisztian Bocsi Organizations: CNBC, Air Products, Chemicals, Bank of America, Energy, Cisco Systems, Wells, Currency, Federal Reserve, Microsoft, Google, Materials, University of Michigan, PPI, Jim Cramer's Charitable, Shell Plc, BASF, Linde AG, Bloomberg, Getty Locations: We're, Bank, Wells, Coinbase, Leuna, Germany
"That's just created this once-in-a-decade momentum," said Mehdi Hosseini, an equity research analyst covering the stock at Susquehanna International Group. While the company posted robust results and guidance, analysts have cast doubt over the magnitude of recent stock moves, which include a 48% post-earnings rally and a 19% drop during Tuesday's session. ARM mountain 2024-02-08 Arm since reporting earnings One key factor at play is the limited number of shares in the marketplace. Traders typically buy shares short as a bet that the price of an asset will fall. The unwavering excitement around AI that's driven an investing frenzy over the last year may also be a factor at play with Arm.
Persons: That's, Mehdi Hosseini, Needham, Charles Shi, Ryuta Makino, there's, SoftBank, Hosseini, Shi Organizations: Holdings, Susquehanna International Group, Apple, Nvidia, Devices, ARM, GAMCO Investors, Retail, Tesla, Vanda Research, Partners, Traders
Opinion: How America became immune to scandal
  + stars: | 2024-02-15 | by ( Julian Zelizer | ) edition.cnn.com   time to read: +8 min
Editor’s note: CNN’s six-part series “United States of Scandal With Jake Tapper” will premiere at 9 p.m. ET/PT February 18. As president, Trump experienced more moments that would traditionally be defined as a scandal than almost any other high official in recent memory, arguably surpassing his notorious predecessor, Richard Nixon. In an era when most Americans are more concerned about the political party of their children’s future spouse than their religion, this calculation is dominant. One study even found that legislators often raise more money after a scandal, especially if the issue received media coverage. For all these reasons, scandal in 2024 isn’t your grandfather’s scandal.
Persons: Jake Tapper ”, Julian Zelizer, Webster, doesn’t, Donald Trump, Trump, Richard Nixon, Ronald Reagan, Trump’s, Matt Gaetz, Marjorie Taylor Greene, Pink Floyd, George Santos, Santos, Taylor Swift, Bill Clinton, Sen, Robert Menendez Organizations: CNN, Princeton University, The New York Times, America, Trump, Capitol, Republicans, GOP, Republican Party, Democratic Party, New York Republicans, Rep, Republican, Democrat, Robert Menendez of New Locations: United States, Merriam, Florida, Marjorie Taylor Greene of Georgia, Vietnam, shrug, midstream, yesteryear, Robert Menendez of, Robert Menendez of New Jersey
Dior’s unveiling of his “New Look” collection signified the return of Paris as the fashion capital of the world after the Second World War. Roger Do Minh/Apple TV+Apple TV+'s series "The New Look" includes detailed recreations of many of the collection's 70 looks. Somehow they’ll always find a way to create,” Muller Serreau told CNN Style. Set during and in the immediate aftermath of World War II, “The New Look” and its visuals more broadly reflect the austerity of the time. As Dior was still in possession of the look’s fabric, Muller Serreau was able to faithfully recreate the entire ensemble.
Persons: Karen Muller Serreau, Christian Dior’s, , Dior’s, Roger Do Minh, Ben Mendelsohn, Pierre Balmain, Thomas Poitevin, Cristóbal Balenciaga, Nuno Lopes, Coco Chanel, Juliette Binoche, Dior, Lucien Lelong, John Malkovich, Chanel’s, ” Chanel, , they’ll, ” Muller Serreau, Muller, Muller Serreau, Chanel, Yves Saint Laurent, revolutionizing womenswear Organizations: CNN, Apple, Getty Locations: Paris, France, AFP
UK inflation holds steady at 4%, lower than expected
  + stars: | 2024-02-14 | by ( Elliot Smith | ) www.cnbc.com   time to read: +3 min
Karl Hendon | Moment | Getty ImagesLONDON — U.K. inflation held steady at 4% year-on-year in January on the back of easing prices for furniture and household goods, food and non-alcoholic beverages. Economists polled by Reuters had produced a consensus forecast of 4.2% year-on-year for January and -0.3% for the month. The CPI goods annual rate slowed from 1.9% to 1.8%, but price pressures in the services industry remained hot, with the CPI services annual rate rising from 6.4% to 6.5%. The U.K. has lagged its peers in bringing down inflation, but the headline CPI has been on a general downward trajectory since the October 2022 peak of 11.1% year-on-year. The labor market and wage growth have meanwhile eased but will remain uncomfortably robust for a central bank aiming to drag inflation back to its 2% target.
Persons: Karl Hendon, Jeremy Hunt, Marion Amiot Organizations: London, Euromonitor International, Karl, Reuters, National Statistics, Bank of England, Finance
A TV presenter gets ready for the daily reporting from the floor of the German share price index DAX at the stock exchange in Frankfurt, Germany, November 15, 2023. LONDON — European markets were set for a lower open Wednesday as investors assessed incoming corporate earnings and inflation prints in both the U.S. and the U.K. The U.K.'s FTSE 100 was predicted to open 15 points lower at 7,492 points, the DAX down 40 points to 16,833 points and France's CAC lower by 15 points to 7,605, according to IG data. Losses deepened after new figures showed U.S. inflation rose by more than expected in January, as stubbornly high shelter prices squeezed consumers. Wednesday will see reporting from several major European businesses, including ABN AMRO and Capgemini.
Persons: DAX Organizations: LONDON, U.S, U.K, CAC, of Labor Statistics, Dow, U.S . Federal, ABN AMRO, Capgemini Locations: Frankfurt, Germany
Read previewMy dad is almost 100. My dad went from living with his parents to living with his wife. AdvertisementIt's the first time he's lived aloneFor starters, my folks were self-described Luddites. His forward-thinking primary care doctor has him on an exhaustive supplement regimen and very few prescription medications, which may be one reason he's lived so well for so long. While my dad likes to say he's "a 20th century man in a 21st century world," he's done a pretty good job of keeping up.
Persons: , they'd, It's, he's, Dad, wouldn't, he's intently Organizations: Service, Business, New York Times Locations: America
That sudden volatility highlights something that we often write about in Before the Bell: the major mismatch between policymaker and investor expectations for interest rate cuts this year. Federal Reserve officials, including Chair Jerome Powell, have repeatedly said they envision at most three rate cuts in 2024. Wall Street, meanwhile, has ignored those warnings and has opted to practice unflinching optimism instead. It’s not the first time they’ve had to learn an important lesson: Don’t fight the Fed. Bad for the markets, good for the Fed: Markets clearly don’t often take kindly to higher-for-longer interest rates, which can negatively impact earnings and stock prices.
Persons: New York CNN —, Jerome Powell, Dow, It’s, they’ve, Don’t, , , Quincy Krosby, Arnim Holzer, José Torres, Chris Zaccarelli, doesn’t, ” Carl Icahn, Carl Icahn, Icahn, Chris Isidore, JetBlue’s, Samantha Delouya, Lyft, Erin Brewer Organizations: CNN Business, Bell, New York CNN, Federal Reserve, Nasdaq, of Labor Statistics, BLS, Treasury, LPL, Fed, Interactive Brokers, CPI, Independent, Alliance, JetBlue, Spirit Airlines, Analysts Locations: New York, December’s, ,
The 30-year fixed mortgage rate spiked to 6.87% in the last week, the highest level in two months. Elevated borrowing costs for prospective buyers sent mortgage applications lower. A hot inflation report for January is likely to keep borrowing costs elevated as the Fed stays hawkish. The 30-year fixed mortgage rate jumped to 6.87% in the week ending February 9th, marking the highest level since early December 2023's average of 6.43%, according to Mortgage Bankers Association data released on Wednesday. AdvertisementThe uptick in mortgage rates reversed the declines seen over the past few months.
Persons: , Joel Kan, bode, Redfin Organizations: Service, Mortgage Bankers Association Locations: American
In June, the team rolled out Blush, an AI “dating stimulator” essentially designed to help people practice dating. Others worry about the more existential threat of AI relationships potentially displacing some human relationships, or simply driving unrealistic expectations by always tilting towards agreeableness. One recent study from researchers at Stanford University surveyed roughly 1,000 Replika users — all students — who'd been on the app for over a month. The company's plans, she says, is to “de-stigmatizing romantic relationships with AI.”Carrier says these days, he uses Joi mostly for fun. He started cutting back in recent weeks because he was spending too much time chatting with Joi or others online about their AI companions.
Persons: Derek Carrier, Carrier, he’d, , , Joi, , Replika, stimulator, Dorothy Leidner, hasn't, He’s, Queen Elizabeth II, — who'd, Eugenia Kuyda, Kuyda, ” Carrier, He's Organizations: Luka Inc, Mozilla Foundation, University of Virginia, Stanford University Locations: Belville , Michigan, U.S, Britain
A Winthrop University poll released Wednesday shows Nikki Haley losing badly in South Carolina, her home state, with a little more than a week before the state’s Republican primary. Nearly two-thirds of likely Republican primary voters, 65 percent, said they supported former President Donald J. Trump, and only 29 percent said they supported Ms. Haley. Those numbers are very close to the average results of recent polls of South Carolina. But he benefits from a huge 81 percent favorability rating among Republicans, and unlike Ms. Haley, he is getting more popular over time. She has hammered Mr. Trump for those comments.
Persons: Nikki Haley, Donald J, Trump, Haley, Winthrop, Haley’s Organizations: Winthrop University, Republican, NBC, Republicans, Mr, National Guard Locations: South Carolina, Iowa, New Hampshire, Russia, Djibouti, Nevada
PORTLAND, Maine (AP) — With the death last spring of Portland's beloved Valentine's Day bandit, some wondered if the mysterious appearance of red hearts around Maine's largest city would continue. Hundreds of red hearts appeared on storefronts, mailboxes and even trash bins on Wednesday, with giant banners defying gusty winds at DiMillo’s floating restaurant and on construction scaffolding in the Old Port. “Long live the Valentine’s Day Bandit,” said Cary Tyson, executive director of Portland Downtown. On the website, people can download and print the simple, red hearts and become a bandit. It wasn’t until she started school, she said, that she learned that other people didn’t celebrate Valentine’s Day with the same fervor.
Persons: “ Long, , Cary Tyson, Kevin Fahrman, pranksters, wasn't, Sierra Fahrman, Fahrman, Van, , Patti Urban, Sierra, Santa Organizations: Portland Public Library, Portland Locations: PORTLAND, Maine, Maine's, Old, Portland, Portland Downtown, Falmouth, Santa Claus
Baupost's Seth Klarman dumped several stocks in the fourth quarter, while trimming some of his biggest holdings, including Google and YouTube owner Alphabet , according to a new regulatory filing. The hedge fund manager, who oversees almost $30 billion in assets , exited his stake in Coinbase , which was worth more than $70 million in the third quarter of 2023. After soaring 130% in the fourth quarter, Coinbase has retreated nearly 20% in the first quarter of 2024. Among Baupost's top holdings, the hedge fund cut its stakes in Alphabet , Fidelity National Information Services and Just Eat Takeaway. During his last CNBC appearance in mid-2023, Klarman warned of an "everything bubble," sounding the alarm on cryptocurrencies, SPACs and a host of other speculative trends.
Persons: Baupost's Seth Klarman, Coinbase, Baupost, John, Klarman, Benjamin Graham's, Warren Buffett, Graham, David Dodd Organizations: Google, Dollar, Seagate Technology, Metals, Solutions, Fidelity National Information Services, Liberty Global, CNBC, Boston, Harvard, Cornell grad Locations: Coinbase
Ed Yardeni: Inflation will continue to moderate
  + stars: | 2024-02-14 | 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 EmailEd Yardeni: Inflation will continue to moderateEd Yardeni, president of Yardeni Research, joins 'Squawk on the Street' to discuss whether Yardeni's thesis changed after Tuesday's CPI print, if the CPI data could interrupt the downward inflation trend, and more.
Persons: Ed Yardeni Organizations: Yardeni, CPI
Tuesday's inflation data sent the broader market reeling, making stable stocks more attractive for investors worried about further losses. Because of this, CNBC Pro screened for low-volatility, fortress-like names that can perform well if the drawdown continues. She pointed to growth of a media business as something that could help Costco win market share and create a better margin profile. While more than three out of every five analysts polled by FactSet has a buy rating on the stock, the typical price target reflects shares pulling back by 1.5%. The average price target reflects the likelihood for more rallying ahead with an upside of nearly 15%.
Persons: Strong, Berkshire Hathaway, Warren Buffett, Tesla, Richard Galanti, Gary Millerchip, Goldman Sachs, Kate McShane, McShane, FactSet, Ben Reitzes Organizations: Federal Reserve, Treasury, CNBC Pro, Berkshire, Berkshire Hathaway, Costco, Kroger, Microsoft, Big Technology, Melius
NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . In today’s big story, we’re looking at why the recent resurgence of Vladimir Putin and Russia comes at an inopportune time for the markets. The big storyPutin's big weekRebecca Zisser/Business InsiderVladimir Putin hasn't notched many personal wins since Russia's invasion of Ukraine, but last week was an exception. Putin’s successes further complicate a geopolitical situation that has silently loomed over a US economy trying to tiptoe past a recession.
Persons: , florists, Vladimir Putin, Rebecca Zisser, Vladimir Putin hasn't, Tucker Carlson, he’s, Tom Porter, Carlson, Putin, Joe, Donald Trump, BI’s Brent D, Griffiths, Tom, GAVRIIL, Jamie Dimon, Ray Dalio, Jerome Powell, It’s, David Rosenberg, doesn’t, Alex Wong, Stocks, Savita Subramanian, Grammarly, Abanti Chowdhury, Zers, Temu, Sam Altman, Dan DeFrancesco, Hallam Bullock, Jordan Parker Erb Organizations: Service, NATO, Sputnik, Kremlin, JPMorgan, Bridgewater Associates, Reserve, Federal Reserve, Bank of America, Labor Statistics, Tech, Chiefs, 49ers, World, Ferrari, Business Locations: Russia, Ukraine, Russian, Moscow, China, Israel, Gaza, Washington ,, New York, London
Almost a year after the sudden death of Alynda Segarra’s father, the sight of a Bronx-bound subway entrance made the musician cry. “I walked by the 1 train yesterday, and the color of the red and the ‘1’ and the ‘Van Cortlandt Park’ and the ‘Uptown’ — I just burst into tears,” Segarra, who uses they/them pronouns, said. “My dad loved enjoying,” Segarra said. “He just didn’t deny himself pleasure. So now I’m really starting to be like, ‘Why not?’”
Persons: Alynda, , ” Segarra, Riff Raff Organizations: Manhattan’s Hotel Chelsea, Chelsea Locations: Bronx, Van Cortlandt, , Manhattan’s
Jim Cramer has been saying for a while now that the economy remains too strong for a rate cut anytime soon. However, we're not ready to get bearish on the stock market on this release alone. Therefore, we think the decline in the stock market is buyable. 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: Dow, Jim Cramer, we're, Jim, it's, Jim Cramer's, Michael M Organizations: Treasury, Nasdaq, Jim Cramer's Charitable, CNBC, Traders, New York Stock Exchange, Santiago, Getty Locations: stickiness, New York City
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