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☆ This is how JPMorgan's massive income ETF can again pull ahead of the stock market
▼ + stars: | 2023-10-17 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +5 min

But as the stock market rally has sputtered, the $29 billion fund is showing promise once again. JEPI YTD mountain JEPI has underperformed the broader market this year but has proved stable in the recent market dip. The downside to the options strategy is that those trades, made through equity-linked notes, can be losers when markets rise. Reiner said that the fund's options income strategy involves selling call options, through equity-linked notes, that have a 30% chance of finishing in the money. JEPI is not the only active income strategy in the JPMorgan ETF lineup.

Persons: JEPI, Hamilton Reiner, that's, Santa Claus, Reiner Organizations: JPMorgan, CNBC, Adobe, Technologies, Honeywell, SEC, Nasdaq Locations: Santa

☆ Secret recording of Caroline Ellison meeting with Alameda staff exposed in SBF criminal trial
▼ + stars: | 2023-10-12 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +3 min

Caroline Ellison, former chief executive officer of Alameda Research LLC, leaves Manhattan Federal Court after testifying during the trial of FTX CEO Sam Bankman-Fried, on October 10, 2023 in New York City. Rick Best, a trader who had joined Alameda just days earlier, was directly to Ellison's right and secretly recording the meeting as audio. "Alameda borrowed a bunch of money," which it used to make investments, Ellison said on the recording. At one point on the recording, Ellison giggled. "FTX basically always allowed Alameda to, like, borrow user funds, as far as I know" she said on the recording.

Persons: Caroline Ellison, Sam Bankman, Christian Drappi, Drappi, He's, Rick Best, Ellison, FTX, Ellison giggled, Um, Sam Organizations: Alameda Research, Bankman Locations: Manhattan, New York City, Hong Kong, Alameda, Bahamas, FTX, YOLO

☆ Union at Kia Corp suspends strike action to resume talks with company
▼ + stars: | 2023-10-11 | by ( Heekyong Yang | ) www.reuters.com time to read: +2 min

The union and Kia's management had been holding talks for three months over wage increases and an extension of the retirement age. Earlier, the union said it would limit working hours for six working days from Oct. 12 after negotiations stalled, in what would have been the first industrial action at Kia in three years. Kia declined to comment on the industrial action. Last month, the union at South Korea's second largest automaker with more than 26,600 members said 92.3% of its members had approved strike action unless the management accepts their demands. Because the deals with Hyundai Motor and affiliate Hyundai Mobis (012330.KS) were concluded without any industrial action, Kia's unions are likely to avoid any major industrial action, analysts said.

Persons: Kim Hong, Kia Corp's, Lee Jae, Heekyong Yang, Edmund Klamann Organizations: Kia Corp, REUTERS, Rights, Kia, Reuters, South, Hyundai Motor, Hyundai Mobis, Eugene Investment, Securities, Thomson Locations: Seoul, South Korea, Rights SEOUL, KS, South Korea's

☆ Kia Corp's unionised workers to go on partial strike over wages
▼ + stars: | 2023-10-11 | by ( Heekyong Yang | ) www.reuters.com time to read: +2 min

The logo of Kia Corp is seen on its electric vehicle EV6 during a photo opportunity in Seoul, South Korea, June 1, 2021. Last month, the union at South Korea's No.2 automaker with more than 26,600 members said 92.3% of its members had approved strike action unless the management accept the demands. The union said it would work regular hours on days when they are holding talks with the management. Kia declined to comment on the strike. Shares in Kia Corp were trading up 0.7%, versus the benchmark KOSPI's (.KS11) 2.1% rise as of 0217 GMT.

Persons: Kim Hong, Kia Corp's, Kia, Lee Jae, Heekyong Yang, Edmund Klamann Organizations: Kia Corp, REUTERS, Rights, Kia, South, Hyundai Motor, Hyundai Mobis, Eugene Investment, Securities, Thomson Locations: Seoul, South Korea, Rights SEOUL, KS

(AP) — The deposition in the civil lawsuit against retired NFL quarterback Brett Favre surrounding Mississippi's welfare scandal has been pushed back at the request of the athlete's attorneys, a court document shows. The Pro Football Hall of Famer is among more than three dozen defendants in a lawsuit the state Human Services director filed to recover some of the welfare money. Favre has denied wrongdoing, sued the state auditor who investigated the misspending for defamation and said he paid back misspent welfare funds. A subsequent court document filed Friday shows the hearing has been rescheduled for Dec. 11 based on a request by Favre's lawyers. Another $1.7 million went to develop a concussion treatment drug investigators have said Favre supported.

Persons: JACKSON, Brett Favre, Favre, Favre’s Organizations: NFL, Pro Football Hall of Famer, Human Services, Mississippi’s Department of Human Services, University of Southern Locations: Miss, Mississippi, Hinds County, Hattiesburg ., University of Southern Mississippi, Hattiesburg

(AP) — Mississippi's gubernatorial election could hinge on turnout among Black voters, who haven't wielded political influence commensurate to their share of the state population, the Democratic nominee said Friday. At a campaign event in the 80% Black state capital of Jackson just over one month before Election Day, Brandon Presley said Black voters could help carry him to victory. Tate Reeves, who is seeking reelection, of hoping they stay home. “Black Mississippi and white Mississippi have been purposefully, strategically and with intent divided over racial lines. Black voters and lawmakers in Mississippi are overwhelmingly Democratic, while Republicans command majority support among white voters and hold supermajorities in the state Legislature.

Persons: JACKSON, — Mississippi's, haven't, Brandon Presley, Tate Reeves, “, Presley, —, Reeves, Jackson, ”, stomped, Keshun Brown, ” Brown, Rodney Hall, Trent Kelly, Gwendolyn Gray, ___ Michael Goldberg Organizations: Black, Democratic, Republican Gov, Historic District, Mississippi Delta, Jackson, Mississippi Supreme, Republicans, GOP U.S . Rep, Army, Black Republican, Reconstruction, Center for Healthcare, Associated Press, America Statehouse News Initiative, America Locations: Miss, Jackson, “ Black Mississippi, Mississippi, Jackson’s, Mississippi Delta, @mikergoldberg

An election official hands a ballot to a voter at a polling station in Ridgeland, Mississippi, U.S., November 27, 2018. A spokesperson for the office of Mississippi Attorney General Lynn Fitch did not immediately respond to requests for comment. Circuit Judge Carolyn Dineen King in reversing a lower-court judge's ruling. Circuit Judge Edith Jones, an appointee of former Republican President Ronald Reagan, was also on the panel and had dissented. Twelve of the 16 currently active judges on the court were appointed by Republicans.

Persons: Jonathan Bachman, Jonathan Youngwood, Lynn Fitch, James Dennis, Dennis, Carolyn Dineen King, Edith Jones, Ronald Reagan, Brendan Pierson, Alexia Garamfalvi Organizations: REUTERS, U.S, Circuit, U.S ., Democratic, Republicans, Thomson Locations: Ridgeland , Mississippi, U.S, Mississippi's, Mississippi, U.S . Civil, New York

(AP) — A federal appeals court has overturned a lower court ruling that found Mississippi relies too much on institutionalizing people with mental health conditions rather than providing care in their communities. They wrote that the federal government, which sued Mississippi, failed to prove that the state discriminated against people with mental health conditions in violation of the Americans with Disabilities Act. The appeals court judges also wrote that a remedial order by U.S. District Judge Carlton Reeves, which sought to make changes in Mississippi's mental health system, "vastly exceeds the scope of claimed liability.”Mississippi Attorney General Lynn Fitch's office argued that the appeals court should overturn the district judge's ruling. Political Cartoons View All 1171 ImagesThe federal government issued a letter in 2011 saying Mississippi had done too little to provide mental health services outside mental hospitals. Reeves in 2021 approved funding for an independent monitor to collect and analyze data on how Mississippi’s mental health system is working to prevent unnecessary hospitalizations.

Persons: JACKSON, Carlton Reeves, Lynn Fitch's, Fitch, ” Fitch, Reeves Organizations: —, U.S, Circuit, Appeals, District, U.S . Justice Department, Mississippi, Justice Locations: Miss, Mississippi, Washington

☆ California sues Chevron, Exxon, Shell, others for public deception on climate change
▼ + stars: | 2023-09-18 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +5 min

The state of California on Friday filed one of the most significant cases against major oil companies for their role in perpetuating climate change. The oil companies named as defendants are BP , Chevron , ConocoPhillips , Exxon Mobil , and Shell . The state is seeking an abatement fund paid for by the defendants that will finance recovery efforts for the future damage of human-caused climate change. It also asks that the oil companies and their trade group pay a share of the damages from extreme weather disasters worsened by climate change. Shell, based in the U.K., maintained that its position on climate change "has been a matter of public record for decades."

Persons: Rob Bonta, Korey Silverman, Columbia University's, Silverman, Newsom, API's, Ryan Meyers, Roati Organizations: Exxon, American Petroleum Institute, Chevron, ConocoPhillips, Exxon Mobil, Shell, Columbia, Climate Change, California Gov Locations: San Francisco , California, California, San Francisco, Chevron, Texas

☆ China agrees to rare visit by Vatican envoy for Ukraine talks
▼ + stars: | 2023-09-13 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Maxim Shemetov/File Photo Acquire Licensing RightsBEIJING, Sept 13 (Reuters) - The Chinese foreign ministry said on Wednesday that Vatican envoy Cardinal Matteo Zuppi will visit China for talks on resolving the conflict in Ukraine, despite the lack of formal bilateral relations between Beijing and the Holy See. Li Hui, China's Special Envoy for Eurasian Affairs, will meet with Zuppi, foreign ministry spokesperson Mao Ning told a regular news conference. "On the issue of Ukraine, China has always been committed to promoting peace talks," said Mao. Zuppi will be in China from Wednesday to Friday as part of a diplomatic push to facilitate peace in Ukraine, the Vatican said on Tuesday. The Chinese foreign ministry did not give details on Zuppi's schedule or say whether he would meet China's top officials.

Persons: Cardinal Matteo Zuppi, Pope Francis, Maxim, Li Hui, Mao Ning, Mao, Li Qiang, Archbishop Paul Gallagher, Wang Yi, Ryan Woo, Ethan Wang, Christian Schmollinger, Mark Heinrich Our Organizations: Italian Episcopal Conference, REUTERS, Rights, Eurasian Affairs, Kyiv, Vatican, Repubblica, Foreign, Thomson Locations: Moscow, Russia, Rights BEIJING, China, Ukraine, Beijing, Russian, Italian, Washington, Taiwan, Europe, Taipei, Munich

☆ Here are 3 things for stock investors to watch in the market in the week ahead
▼ + stars: | 2023-09-09 | by ( Zev Fima | ) www.cnbc.com time to read: +10 min

It was a down week for the major stock market benchmarks as rumors of an iPhone ban for government employees in China sparked concerns over increasing tensions between Washington and Beijing. Here's a full rundown of all the important domestic earnings reports and economic data in the week ahead. 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. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.

Persons: Jim Cramer, Apple —, Jim, we'll, Einstein, Stellantis, We'll, That's, Oracle's, LEN, Jim Cramer's Organizations: Apple, Dow, Nasdaq, Broadcom, DuPont, Huawei, Nvidia, Apple Watch, Vision, Club, Google, Justice Department, United Auto Workers, General Motors, Chrysler, Ford, UAW, CPI, PPI, Oracle, Oracle Cloud Infrastructure, Microsoft, Costco, Caseys, Jim Cramer's Charitable, CNBC, Apple Inc, Getty Locations: China, Washington, Beijing, U.S, People's Republic of China, San Francisco, Shanghai

☆ A 27-year-old investor building a retirement portfolio of $2 million in 8 years shares why he's heavily buying a fund paying a 12% annualized yield on a monthly basis with tax advantages
▼ + stars: | 2023-09-03 | by ( Laila Maidan | ) www.businessinsider.com time to read: +8 min

As Hankwitz was looking for yields, he came across the NEOS S&P 500 High Income ETF (SPYI). It's also attractive to those who may want to supplement their regular income, Hankwitz said. "Normally, you'll see anywhere between 2 to 4% for most of these dividend stocks," Hankwitz said. "But for a long-term investor like myself, I do want to have that deep exposure to the S&P 500. Global X S&P 500 Covered Call ETF (XYLD) is a similar fund that holds the S&P 500 stocks.

Persons: Austin Hankwitz, Hankwitz, It's, Troy Cates, Cates, it's, XYLD, SPYI, We've Organizations: Medicis, Broadcom, MasterCard, SPYI, JPMorgan, Internal Revenue Service, hasn't, Treasury Locations: SPYI

☆ How does Storm Idalia compare to the most powerful hurricanes in US history?
▼ + stars: | 2023-08-28 | by ( ) www.reuters.com time to read: +4 min

Here is a list of some of the most powerful hurricanes to hit the mainland U.S. based on minimum atmospheric pressure, which scientists use to rate storm intensity. A lower pressure, measured in millibars, or mb, means a more powerful storm. UNNAMED FLORIDA KEYS HURRICANE, LABOR DAY 1935 (892 MB)The hurricane struck the Florida Keys as a Category 5 storm, the highest ranking on the five-step Saffir-Simpson scale. After ravaging the Keys, the storm moved north off the western coast of Florida before turning inland. Ian almost hit as a Category 5 storm, with the wind speed falling just short of the threshold of 157 mph (252 km).

Persons: Ian, Marco Bello, Idalia, Florida . HURRICANE CAMILLE, Camille, MICHAEL, Michael, HURRICANE KATRINA, HURRICANE ANDREW, Andrew, HURRICANE IAN, Hurricane Ian, Rich McKay, Marguerita Choy Organizations: REUTERS, National Hurricane Center, Florida Panhandle, U.S, HURRICANE, Texas Gulf, Hurricane, Thomson Locations: Fort Myers Beach , Florida, U.S, Florida, Florida , Georgia, Carolinas, FLORIDA, Florida . HURRICANE, Mississippi's Gulf, Central America, HURRICANE, New Orleans, South Miami, Dade County, TEXAS GULF, Texas, Texas Gulf Coast, Indianola, Galveston, Atlanta

☆ Hyundai Motor's union in South Korea votes on strike
▼ + stars: | 2023-08-24 | by ( Heekyong Yang | ) www.reuters.com time to read: +3 min

SEOUL, Aug 25 (Reuters) - Hyundai Motor's (005380.KS) unionised workers in South Korea on Friday vote on whether to hold a strike after two months of talks with the company over wage increase and extension of the retirement age stalled last week. If the union stages a strike, it would mark the first such action in five years related to wage negotiations at the South Korean carmaker, and could disrupt delivery of some popular vehicles which Hyundai has been struggling to ramp up due to prolonged component shortages. The voting result is expected at around 6 p.m. (0900 GMT), a union official at Hyundai Motor told Reuters, adding that the union will continue working-level negotiations with the management regardless of the vote. "South Korea has relatively low pension replacement rates, compared to other advanced countries in Europe. Unionised workers at Hyundai in South Korea held a four-hour strike for one day in July in support of its umbrella union's general strike, but it was not related to the union's wage negotiations with the management.

Persons: Ji, Kim Jinwoo, 1,328.0600, Heekyong Yang, Shri Navaratnam snd Michael Perry Organizations: Hyundai, Hyundai Motor, Reuters, Korea University's School of Law, Analysts, Korea Investment, Securities, Thomson Locations: SEOUL, KS, South Korea, Korean, Korea, Europe

☆ A judge dismissed a Wisconsin politician's defamation suit against a newspaper, but the legal fees may still shutter the paper.
▼ + stars: | 2023-08-19 | by ( Katie Balevic | ) www.businessinsider.com time to read: +3 min

A Wisconsin politician filed a defamation suit against a local newspaper, and the suit was dismissed. A troubling trendThe Wisconsin case isn't the first and likely won't be the last dubious defamation case brought on by a politician. His latest $475 million defamation suit against CNN was dismissed last month. Ron DeSantis, a 2024 presidential candidate along with Trump, hailed it as a way to target "legacy media defamation practices." Phil Bryant filed a defamation suit against a local newspaper whose Pulitzer-Prize-winning reporting tied him to a major welfare scandal in the state.

Persons: Cory Tomczyk, Tomczyk –, –, Tomczyk, Shereen Siewert, Donald Trump, Ron DeSantis, Phil Bryant Organizations: Wausau Pilot, Service, The New York Times, Republican, Times, CNN, Washington Post, Florida Republicans, Gov, Trump, Freedom, Press, of Columbia Locations: Wisconsin, Wall, Silicon, Wausau , Wisconsin, Florida, . Wisconsin

If housing cost pressures start to ease more in the coming months, as many economists expect, then the Federal Reserve is almost certainly done. Headline annual consumer price inflation rose a little less than expected last month to 3.2%, and annual core inflation cooled slightly to 4.7%, as forecast. Reuters ImageReuters ImageShelter inflation is running at a 7.7% annual rate and has been far stickier than policymakers would have liked. But Parsons reckons lag effects will soon be bringing shelter inflation down more quickly. Reuters ImageReuters ImageReuters Image(The opinions expressed here are those of the author, a columnist for Reuters)Reporting by Jamie McGeever; editing by Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

Persons: Jerome Powell, Brendan McDermid, Jay Parsons, Parsons, Jerome Powell's, Phil Suttle, Julia Coronado, Andreas Steno Larsen, Powell, Jamie McGeever, Jonathan Oatis Organizations: Federal Reserve, New York Stock Exchange, REUTERS, Federal, Fed, Traders, Reuters, CPI, Suttle, Steno Research, Thomson Locations: New York City, U.S, ORLANDO, Florida, materializing

REUTERS/Sarah SilbigerAug 10 (Reuters) - Federal Reserve policymakers are unlikely to raise interest rates again in 2023 and will probably start cutting them early next year, traders bet on Thursday, after a U.S. government report showed consumer prices rose only moderately last month. Traders of futures tied to the Fed's policy rate now see less than a 10% chance that the U.S. central bank will increase its benchmark overnight interest rate from its current 5.25%-5.50% range at a Sept. 19-20 policy meeting. The Fed's first rate cut is priced into the futures contracts by March of 2024. The Fed has driven its policy rate up by 5.25 percentage points since March 2022 to bring inflation back down to its 2% goal. "There's always a chance we get reacceleration of inflation prints after October, but I don't think that's going to spur Fed action."

Persons: Sarah Silbiger, Guy Lebas, Janney Montgomery Scott, Ann Saphir, Karen Brettell, Lucia Mutikani, Bernadette Baum, Paul Simao Organizations: Eccles Federal Reserve, Washington , D.C, REUTERS, Federal Reserve, Labor Department, Traders, Thomson Locations: Washington ,, U.S

☆ Thursday's inflation data may be low, but don't expect the Fed to declare 'mission accomplished' yet
▼ + stars: | 2023-08-09 | by ( Jeff Cox | ) www.cnbc.com time to read: +6 min

But history has shown that inflation is stubborn and can last longer than expected once it becomes elevated and entrenched. "We can feel confident that inflation is moving in the right direction," said Mark Zandi, chief economist at Moody's Analytics. For instance, housing-related costs, which make up about one-third of the inflation index weighting, are dropping. In particular, they don't want to declare 'mission accomplished' too soon," he said Wednesday during an interview on CNBC's "Squawk on the Street." watch nowAt the macro level, the Fed rate hikes have appeared to do minimal damage.

Persons: Mandel Ngan, Dow Jones, Mark Zandi, Zandi, they're, Richard Clarida isn't, Clarida, Joe Biden, Patrick Reilly, Banks, Reilly, John Williams of, Patrick Harker Organizations: AFP, Getty, Federal Reserve, CPI, Moody's, Federal, of Labor Statistics, AAA, Atlanta Fed, CNBC, America Economic Survey Locations: Bethesda , Maryland, John Williams of New York, Philadelphia

☆ On tap next week: Two key inflation reports and 4 Club earnings releases. Here's what we're looking for
▼ + stars: | 2023-08-05 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

Economic releases : The Labor Department releases its monthly consumer price index and producer price index on Thursday and Friday, respectively. For that reason, we'd be content if the July figure doesn't indicate a resurgence of rising wholesale costs, which is a concern given a recent uptick in energy prices. On Tuesday before the opening bell, Club holding Eli Lilly (LLY) reports. Finally, Club names Walt Disney (DIS) and Wynn Resorts (WYNN) will report on Wednesday after the closing bell. In preparation for these releases, be sure to check out our first-quarter earnings report card .

Persons: we'll, Knight, Eli Lilly, We'll, donanemab, Walt Disney, We're, Tyson, Henry Schein, Li Auto, Armour, WEN, Ralph Lauren, Price, Jim Cramer's, Jim Cramer, Jim, Spencer Platt Organizations: Nasdaq, Labor Department, Reserve, Manufacturing, ADP, Fitch, AAA, U.S ., PPI, Coterra Energy, Walt, Wynn Resorts, Disney, Tyson Foods, TSN, KKR, Energy, Paramount, UPS, Barrick, Duke Energy, Restaurant Brands, Warner Music, Fox Corp, NRG Energy, AMC, Bros, Endeavor, IAC, Sony, SONY, Brookfield Asset Management, WYNN, Trade, Novo Nordisk, US Foods, News Corp, Air Canada, Jim Cramer's Charitable, CNBC, Traders, New York Stock Exchange, Getty Locations: United States, Mounjaro, Hollywood, Las Vegas, Boston, Macao, PENN, Valvoline, VVV, Credicorp, New York City

REUTERS/Jonathan Bachman/File PhotoAug 4 (Reuters) - A divided federal appeals court on Friday ruled that Mississippi cannot strip the right to vote from thousands of convicts after they complete their sentences, calling that a "cruel and unusual punishment" that disproportionately affected Black people. Circuit Court of Appeals faulted a provision of Mississippi's state constitution that mandates lifetime disenfranchisement for people convicted of a set of crimes including murder, rape and theft. Siding with a group of convicts who sued in 2018 to regain their right to vote, U.S. Circuit Judge James Dennis wrote that the state's policy violated the U.S. Constitution's Eighth Amendment, which bars cruel and unusual punishments. Circuit Judge Carolyn Dineen King in reversing a lower-court judge's ruling.

Persons: Jonathan Bachman, James Dennis, Dennis, Carolyn Dineen King, Mississippians, Jonathan Youngwood, Lynn Fitch, disenfranchisement, Edith Jones, Ronald Reagan, Jones, Nate Raymond, Deepa Babington Organizations: REUTERS, Circuit, U.S ., Washington , D.C, U.S, Democratic, Republican, Supreme, Thomson Locations: Ridgeland , Mississippi, U.S, Mississippi, New Orleans, U.S . Civil, Washington ,, Constitution's, Boston

☆ Black unemployment rate ticks lower in July as jobs market remains tight
▼ + stars: | 2023-08-04 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

Mario Tama | Getty ImagesThe unemployment rate for Black workers fell slightly in July as the broader labor market remains tight. Black workers' jobless rate fell to 5.8%, according to the Labor Department on Friday. Broken down by gender, Black men's unemployment rate fell to 5.3% in July from 5.9% in June. In July, the U.S. unemployment rate was little changed at 3.5%, which is just above the lowest level since late 1969. Meanwhile, Asian workers' unemployment rate fell to 2.3% in July, a 0.9 percentage point drop from 3.2% in June.

Persons: Mario Tama, That's, It's, Black, Valerie Wilson, Wilson Organizations: Port, Getty, Labor Department, Federal Reserve Locations: Port of Los Angeles, San Pedro, Los Angeles , California, U.S

SEOUL, July 28 (Reuters) - SK Innovation Co Ltd (096770.KS), owner of South Korea's top refiner SK Energy, said on Friday it expects refining margins to gradually improve in the second half thanks to favourable market conditions backed by solid travel season demand. Analysts said SK Innovation's refining business had been hit by declines in refining margins and oil prices, while its battery business had continued generating losses due to costs related to its newly set up U.S. battery plants. SK Innovation's battery unit SK On, which was split off last year, accounted for about 20% of the company's revenue in the second quarter. SK Innovation said it expects its battery unit's profitability to improve in the second half thanks to the U.S. tax subsidies from the Inflation Reduction Act. Shares of SK Innovation were trading down 0.9%, versus benchmark KOSPI's (.KS11) 0.5% fall at 0210 GMT.

Persons: Refinitiv SmartEstimate, Kim Kyunghoon, 1,282.8300, Heekyong Yang, Joyce Lee, Jamie Freed, Kim Coghill Organizations: SK Innovation Co, refiner SK Energy, Analysts, SK Innovation's, SK, SK Innovation, Ford Motor, Hyundai Motor, Chief, SK On's, LG Energy, Thomson Locations: SEOUL, North America, Europe

☆ Here are Wednesday's biggest analyst calls: Microsoft, Amazon, Apple, Netflix, Spotify, Meta & more
▼ + stars: | 2023-07-26 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Here are the biggest calls on Wall Street on Wednesday: Morgan Stanley reiterates Amazon as overweight Morgan Stanley said it's bullish on the e-commerce giant's earnings next week. Morgan Stanley downgrades RTX to equal weight from overweight Morgan Stanley said in its downgrade of the stock that risk/reward seems "balanced" right now. Morgan Stanley upgrades WW International to overweight from equal weight Morgan Stanley said shares of the company formerly known as Weight Watchers are underappreciated. Citi reiterates Meta as a top pick Citi said Meta is a top pick heading into earnings on Wednesday afternoon. Morgan Stanley reiterates General Motors as overweight Morgan Stanley said the stock's weak reaction to Tuesday's GM earnings report is a "headscratcher."

Persons: Morgan Stanley, it's bullish, it's, Raymond James downgrades, Raymond James, Morgan Stanley downgrades RTX, Needham, NFLX, Citi, Eli Lilly, Elliot, Burger, Disney, TD Cowen, bitcoin, GOOGL Organizations: Deutsche Bank, Spotify, Deutsche, Barclays, Apple, Target, Bank of America, NXP Semiconductors, International, Netflix, Citi, Goodyear Tire Deutsche, Elliot Management, Goodyear, Elliott Management, Operational, Restaurant Brands Citi, Microsoft, Hollywood, Meta, JPMorgan, United Airline, AFL, DAL, Motors, UAW Locations: 1Q23

☆ China's central bank says consumer prices will likely drop in July
▼ + stars: | 2023-07-14 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

Jason Lee | ReutersBEIJING – China's consumer prices will likely decline in July before recovering, Liu Guoqiang, deputy governor of the People's Bank of China, told reporters Friday. Official measures of consumer prices have barely changed in the last several months amid tepid demand, in contrast to high inflation in the U.S. and Europe. watch nowThe central bank said in April consumer prices would likely see a "U-shaped" recovery this year. He described the real estate market as "stable" overall, but said that "some real estate companies' long-accumulated risks require a period of time to gradually absorb." He said that was out of "consideration of deep changes in the relationship between supply and demand in [China's] real estate market."

Persons: Jason Lee, Liu Guoqiang, Liu, Bruce Pang, Zou Lan, Zou Organizations: People's Bank of China, Reuters, People's Bank of Locations: Beijing, China, Reuters BEIJING, People's Bank of China, U.S, Europe, JLL

[1/5] Migrants wait to be rescued by Italian Coast Guard off the coast of Italy, April 10, 2023. The fact that Meloni, a figurehead of the new right, has not carried through on her pledges underscores how intractable the problem is. NORTH AFRICAIn the run-up to the 2022 election, Meloni said she would impose a naval blockade to prevent boats leaving north Africa. Meloni visited Tunisia twice last month, seeking progress in unblocking loans that she says are needed to avoid a financial crisis that might trigger a tsunami of departures. However, a review of migrant flows through Europe over the past decade suggests Italy might not benefit in the way Meloni hopes.

Persons: Meloni, King Canute, Giorgia Meloni, Mattia Diletti, Matteo Piantedosi, Matteo Villa, Ursula von der Leyen, Mark Rutte, ISPI's Villa, COVID, Michelangelo Agrusti, Crispian Balmer, Angelo Amante, Alex Richardson Organizations: Italian Coast Guard, REUTERS, Rome's Sapienza University . Immigration, Ministry, European, Dutch, European Commission, EU, Business, Thomson Locations: Italy, Tunisia, Libya, ROME, Europe, Lampedusa, AFRICA, Africa, North Africa, Tripoli, Brussels, Poland, Hungary, Rome

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