DIRS.INFO The most relevant business & tech news

☆ Here's why BlackRock is forecasting a brutal global recession
▼ + stars: | 2022-12-09 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

The global economy this year has faced more obstacles than a Tough Mudder, but far less optimism about coming out of it for the better. A worldwide recession is just around the corner, and BlackRock is expecting it to bring more market turbulence than ever before. The global economy is leaving a four-decade stretch of stable growth and modest inflation to enter a period of massive upheaval and instability, BlackRock analysts wrote in the firm's 2023 Global Outlook. "Recession is foretold as central banks race to try to tame inflation. What's more, BlackRock said that markets haven't fully priced in the potential magnitude of the impending recession, since earnings have yet to reflect even a small downturn.

☆ Elon Musk's latest update to Twitter verification says that figures like Obama, Trump, and even Musk himself 'may not be notable'
▼ + stars: | 2022-12-08 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

Elon Musk has rolled out updated descriptions for verified Twitter accounts which haven't paid for Twitter Blue. Donald Trump, Barack Obama, and Musk himself come with a warning they "may or may not be notable." The change is part of Musk's alterations to the system of being verified on Twitter, which he has described as "lords and peasants." But this is now defined as "legacy verification." It means that public figures like Barack Obama, Donald Trump, and even Musk himself, all have warnings which suggest they "may not be notable."

☆ Face masks come back to forefront amid triple threat of Covid-19, flu, RSV
▼ + stars: | 2022-12-08 | by ( Jacqueline Howard | ) edition.cnn.com time to read: +9 min

Local officials mulling over masksThe US Centers for Disease Control and Prevention offers specific guidance on when masking is recommended based on its Covid-19 community levels. The agency says that people may choose to wear masks at any time but that a “high-quality mask or respirator” is recommended for everyone when a county has a “high” Covid-19 community level. As of Thursday, about 5.66% of US counties have high community levels, including some places in Arizona, Wyoming, Oregon and the Dakotas. Even without a mandate, she emphasized community efforts like wearing masks inside when possible and getting Covid-19 vaccines or boosters. “We do know that 5% of the population is living in places with a high Covid-19 community level.

☆ Gasoline is cheaper now than a year ago — and could fall below $3
▼ + stars: | 2022-12-08 | by ( Patti Domm | In | ) www.cnbc.com time to read: +4 min

Gasoline prices are now cheaper across the U.S. than they were a year ago, and the price per gallon could fall below $3 for most Americans by the end of the year. Unleaded gasoline was at a record $5.01 per gallon June 14 and stayed high through the summer and fall. Gas prices fell 15 cents per gallon in the past week and are down from $3.80 a gallon a month ago. Even with OPEC+ reaffirming a 2 million barrel a day production cut this past week, oil prices have still fallen. But for now, gasoline prices are in decline.

☆ Americans don't seem interested in saving money right now, despite a looming recession
▼ + stars: | 2022-12-07 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +4 min

With a recession looming, some Americans may wish they had built more of a financial cushion. The personal savings rate — the share of Americans' income saved in a given month — fell to 2.3% in October, the Bureau of Economic Analysis reported last Thursday. But sky-high prices aren't the only reason Americans' savings are dwindling. Experts expect the US to enter a recession next year, which is expected to coincide with falling job openings and a rising unemployment rate. Inflation isn't expected to go away quickly either, leaving Americans with wage bumps that may continue to lag inflation.

☆ The Fed may wreck one of the greatest booms in history of Main Street America
▼ + stars: | 2022-12-06 | by ( Tim Mullaney | ) www.cnbc.com time to read: +5 min

As interest rates rise, inflation lingers and home equity that many business founders use to get started shrinks, small business formations are doing something unexpected – they're rising. If the data persists, the resilience in small business formation points to a "new plateau" of activity that may add millions of jobs to the economy, Haltiwanger says. But the risks include the Fed itself choking off financial conditions so much that the small business boom is smothered. Danny Sweis opened his in the summer of 2022. If that lasts, that means 4 million per year, offset by 2.5 million lost as other small businesses close.

☆ Gen Z wants equality, diversity, and flexibility at work, but it may cause them to sacrifice financial security
▼ + stars: | 2022-12-06 | by ( Alexandra York | Jacob Zinkula | ) www.businessinsider.com time to read: +5 min

Some Gen Zers are focusing on a company's mission and job security during their job searches. As a recession looms, Gen Zers might want to consider their financial futures when applying for their next role. Additionally, over half of Gen Z could enter retirement without sufficient savings due to savings challenges and rising costs, Boston University economist Laurence Kotlikoff previously told Insider. In fact, the typical annual salary for Gen Z employees was $32,500 in 2021, according to research from the personal finance site GoBankingRates. To be sure, plenty of Gen Zers understand the financial pressures to come and are prioritizing salary in their job search.

☆ World Cup Round of 16: Cristiano Ronaldo and Portugal face Switzerland for a place in the quarterfinals
▼ + stars: | 2022-12-05 | by ( Issy Ronald | ) edition.cnn.com time to read: +5 min

Switzerland, meanwhile, navigated a difficult group with victories against Cameroon and Serbia seeing them through to the knockout stages despite a loss to Brazil. The last time the two sides met was in the Nations League in June when Portugal dismantled Switzerland 4-0 in Lisbon. Switzerland celebrates defeating Serbia 3-2 and qualifying for the knockout stages. Like Portugal, Spain is entering its round of 16 match against Morocco immediately after a shock defeat to an Asian nation – a 2-1 loss to Japan – in the group stages. “We said we wanted to give everything we’ve got to get out of the group stages,” said Regragui, according to the Guardian.

☆ Gen Z wants security more than a dream job. A look at their finances shows why.
▼ + stars: | 2022-12-05 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +4 min

It has some Gen Zers focusing on job security over the pursuit of their dream job. The environment has some Gen Zers prioritizing job security. But it's easier to not worry about job security when one's finances are strong and the risk of unemployment is low. It may be wise for Gen Z in particular to prioritize job security, as young Americans are among the individuals hardest hit by economic downturns. If security is what Gen Zers value, then many should be well positioned — at least in the short term — to retain their jobs.

That red-hot labor market might mean more economic woes later on as the Federal Reserve steps in. "Big picture here is that the labor market still has a lot of resilience," Nick Bunker, the economic-research director at Indeed Hiring Lab, told Insider. With the thriving labor market, Bunker said "the risk of an imminent recession is relatively low." While the job market is still hot, it's not growing at the same breakneck speed as it was last year. "I don't think this report changes the Fed's view of where the labor market is today," Zhao said.

Average 30-year fixed mortgage rates have dropped below 6% for the first time since late September. See more mortgage rates on Zillow Real Estate on ZillowMortgage calculatorUse our free mortgage calculator to see how today's mortgage rates would impact your monthly payments. 30-year fixed mortgage ratesThe current average 30-year fixed mortgage rate is 6.49%, according to Freddie Mac. 15-year fixed mortgage ratesThe average 15-year fixed mortgage rate is 5.76%, a decrease from the prior week, according to Freddie Mac data. Mortgage rates started ticking up from historic lows in the second half of 2021 and have increased significantly so far in 2022.

☆ Take Five: Ready for that Santa rally?
▼ + stars: | 2022-12-02 | by ( ) www.reuters.com time to read: +5 min

1/FRANC DISCUSSIONCredit Suisse executives may need to sit down for an honest chat about whether the bank's latest strategic plan is enough to rally investors. And with the Federal Reserve, European Central Bank and Bank of England meeting in coming weeks, the drama isn't over. For some, the notion of peak rates, peak inflation and China's reopening is reason enough for cheer. After months of pain inflicted by high inflation and aggressive rate increases, perhaps it's time to bring on the Santa rally. That wouldn't necessarily cut short a rally in Aussie dollar, which recently has been driven more by China's re-opening hopes and a retreating greenback than the RBA.

Canada added 10,100 jobs in November, broadly in line with the forecast gain of 5,000, while the jobless rate fell to 5.1%, Statistics Canada said. Analysts had forecast the jobless rate would tick up to 5.3%. The November report follows a monster gain of 108,300 jobs in October and comes just days ahead of a Bank of Canada policy-setting meeting on Wednesday. The central bank has raised rates by 350 basis points since March, one of its steepest tightening cycles ever. The small jobs gain was entirely for full-time work and mostly in the services sector, while the participation rate edged down to 64.8% from 64.9% in October.

☆ Professional traders are using these ETFs and options to hedge risk in the volatile market
▼ + stars: | 2022-12-02 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Katie Stockton, founder of Fairlead Strategies, said investors could look at volatility products as a way to hedge their long positions in the bumpy market right now. The S & P 500 fell into a bear market, and today stands about 15% lower on the year. Samantha LaDuc of LaDuc Trading said that she added a few positions for downside protection recently. "In my 40 years of experience, bear market rallies are more vicious than bull market rallies," Kalayjian said. "I think this is a tradable market right now.

☆ 20 years ago, a Lyme-disease vaccine was taken off the market. Now, 2 companies are developing one that could be available by 2025.
▼ + stars: | 2022-12-02 | by ( Sarah Braner | ) www.businessinsider.com time to read: +4 min

A Lyme vaccine was pulled from the market 20 years agoThere's already been one US Food and Drug Administration-approved vaccine for Lyme disease. GSK — then called SmithKline Beecham — made a Lyme vaccine that was approved by the FDA in 1998. If the phase 3 study results are positive, the companies are aiming to get FDA approval for the vaccine in 2025. Lyme disease is a growing problemLyme disease has become much more of a concern since 2002. In 2022, a study estimated that 15% of the global population had contracted Lyme disease at some point in their lifetimes.

☆ Wednesday’s Powell rally triggered a record 'buying panic' by one market measure
▼ + stars: | 2022-12-01 | by ( John Melloy | ) www.cnbc.com time to read: +2 min

The TICK index is a measure of internal market activity that traders watch in order to predict turns in the market, in addition to gauging the strength of a market move. As Powell's comments hit the tape and the chair seemingly confirmed that the Fed would slow its rate-hiking campaign, investors quickly bid stocks higher. "So clearly a bit of buying panic on Powell, just as we saw on that CPI day. The CPI day Krinsky mentioned was when September's inflation report came in hotter than expected. Stocks opened lower that day but then staged a massive turnaround that triggered the high TICK index reading.

☆ CNBC Pro Week: The Tick featuring pros making live trades with real money on the line
▼ + stars: | 2022-12-01 | 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 EmailCNBC Pro Week: The Tick featuring pros making live trades with real money on the lineThe Tick is an online trader-focused program designed to show retail traders what the pros are doing, and how they're doing it. The Tick is designed to be instructive, in the moment and interactive.

☆ Stock futures tick higher after Wednesday's rally
▼ + stars: | 2022-11-30 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Stock futures ticked higher in overnight trading Wednesday. Futures tied to the Dow Jones Industrial Average added 12 points, or 0.03%, while those tied to the S&P 500 and Nasdaq 100 gained 0.25% and 0.27%, respectively. Salesforce's stock shed 6% in extended trading on news that co-CEO Bret Taylor is stepping down. The Nasdaq rose 4.37% — its second positive month in a row for the first time since a three-month streak ending December 2021. Both the S&P and Dow rose 5.38% and 5.67%, respectively, to finish their second month of gains for the first time since August 2021.

☆ A tech rebound may be needed for a full market recovery. These are the stocks that could lead
▼ + stars: | 2022-11-26 | by ( Samantha Subin | ) www.cnbc.com time to read: +5 min

The S & P 500, meanwhile, is down 15.5% this year, dragged down by the communication services and information technology sectors, along with consumer discretionary. The Nasdaq is up 6% in the fourth quarter, while the S & P 500 has surged 12% in that time. But, some investors think tech's cooperation will be needed for the market to bounce back from this bear market. "[Tech stocks] have to participate, they have to move up to get a big market move," the company's co-chief investment officer said. Tech stocks that could lead Given this backdrop, CNBC Pro searched for stocks in the Nasdaq 100 — which is made up of the 100-largest Composite stocks — that could lead tech out of its rut.

☆ Musk says Twitter to launch 'Verified' service next week with a 'gold check' for companies
▼ + stars: | 2022-11-25 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +1 min

Elon Musk Twitter account displayed on a phone screen and Twitter logo displayed on a screen in the background are seen in this illustration photo taken in Krakow, Poland on November 22, 2022. Elon Musk said in a tweet Friday that Twitter would launch its delayed "Verified" service next week with different colored checks depending on the type of account. The CEO said Monday that Twitter would delay the relaunch of its $8 per month Blue Verified service. Musk had earlier said he planned to relaunch Twitter Blue on Nov. 29. The subscription service is Musk's attempt to find a new revenue stream at Twitter as part of the billionaire's controversial shakeup at the social media firm.

☆ Elon Musk says Twitter users will be able have a 'secondary tiny logo' showing they belong to a verified organization, amid tentative plans to launch Twitter Blue next week
▼ + stars: | 2022-11-25 | by ( Kate Duffy | ) www.businessinsider.com time to read: +3 min

Elon Musk said Twitter users can have a secondary tiny logo to show they belong to a verified organization. The announcement came after he said the company may unveil Twitter Blue, its new verified service, with different color checkmarks at the end of next week. "Individuals can have secondary tiny logo showing they belong to an org if verified as such by that org," he said, adding that he'd provide a longer explanation about the plans next week. In a separate tweet, he apologized for delaying the launch of Twitter Blue, which will charge users $8 a month. Shortly after, Twitter announced it would display blue and gray checkmarks to distinguish paid Twitter Blue checks from "official" verified accounts.

Mortgage rates started inching up mid-week but are back down today. See more mortgage rates on Zillow Real Estate on ZillowMortgage calculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. Whether mortgage rates will drop in 2023 hinges on if the Federal Reserve can get inflation under control. If the Fed acts too aggressively and engineers a recession, mortgage rates could fall further than what current forecasts expect. This means your entire monthly mortgage payment, including taxes and insurance, shouldn't exceed 28% of your pre-tax monthly income.

☆ New subvariants, family gatherings may bring more Covid-19 after holiday, but experts don’t expect severe surge
▼ + stars: | 2022-11-24 | by ( Brenda Goodman | ) edition.cnn.com time to read: +9 min

Experts expect that Thanksgiving gatherings will stir up social networks and give new coronavirus subvariants fresh pockets of vulnerable people to infect. And we are concerned that after holiday gathering, lots of people coming together, that we may see increases in Covid-19 cases as well,” Dr. Rochelle Walensky, director of the US Centers for Disease Control and Prevention, said Tuesday on CNN. For the week ending Nov. 19, the CDC estimates that BQ.1 and BQ.1.1 were causing about half of all new Covid-19 cases in the US. Covid-19 cases, hospitalizations and deaths have remained flat for the past four weeks. “It’s probably got a bit more of a fitness advantage, so what we’re seeing is gradual replacement without a massive change in the total number of Covid-19 cases,” he said.

☆ 50 of Twitter's top 100 advertisers have pulled out of the platform since Elon Musk took over, report says
▼ + stars: | 2022-11-23 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

Half of Twitter's top 100 advertisers have stopped promoting on the platform, per Media Matters. Since 2020, those 50 companies have spent $2 billion on Twitter advertising. Coca-Cola, Kellogg's, and Meta are among those who have pulled their advertising budgets away from Twitter, according to Media Matters. The list of all 50 is available in Media Matters' report. Insider has reached out to all 50 companies for comment.

☆ The Twitter Blue relaunch is on hold until the platform can sort out impersonation issues with 'high confidence,' Elon Musk says
▼ + stars: | 2022-11-22 | by ( Matthew Loh | ) www.businessinsider.com time to read: +2 min

Elon Musk says Twitter Blue's relaunch is on hold until it can deal with impersonation issues. "Holding off relaunch of Blue Verified until there is high confidence of stopping impersonation," Musk tweeted late on Monday. Musk's announcement comes after the social media platform halted its relaunch of Twitter Blue — which gives users a blue tick if they pay $8 a month — due to widespread impersonation issues. The billionaire's latest update also supersedes his earlier announcement that Twitter Blue would return on November 29. Twitter suspended its verification relaunch on November 11, and started focusing on solving impersonation issues, per Platformer's Zoe Schiffer, who cited an internal note.

Search resuls for: "Tick"

25 mentions found