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☆ Movie theater shares pop after writers, studios reach tentative labor deal
▼ + stars: | 2023-09-25 | by ( Drew Richardson | ) www.cnbc.com time to read: +3 min

Movie theater shares popped Monday following news of a tentative labor deal between the Writers Guild of America and the Alliance of Motion Picture and Television Producers. Extremely good news that progress is being made," AMC CEO Adam Aron said Sunday in a post on X, the site formerly known as Twitter. Shares of AMC were up roughly 7% Monday. The Screen Actors Guild – American Federation of Television and Radio Artists is still on strike after failure to reach a labor agreement with AMPTP. The summer season saw a 19% year-over-year increase, due in large part to the success of "Barbie" and "Oppenheimer."

Persons: Adam Aron, it's, Kraven, Hunter, Oppenheimer, Eric Wold, AFTRA, — CNBC's Sarah Whitten Organizations: AMC, Regal Cinemas, Writers Guild of America, Alliance, Television Producers, Twitter, Disney, Comcast, Warner Bros, Discovery, Hollywood, – American Federation of Television, Radio Artists, AMPTP, SAG, Riley Securities, WGA, Netflix, CNBC Locations: Square , New York, NBCUniversal

☆ America's $1 trillion credit card bill really isn't as bad as it seems
▼ + stars: | 2023-09-24 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +7 min

US credit card debt hit $1 trillion for the first time ever this year. And with those considerations, the hefty credit card balance in the US actually isn't much of a problem. According to Michele Raneri, the vice president of financial services research at Transunion, credit card utilization has stayed around 22%. Already, the delinquency rate on loans issued in 2023 is lower than the delinquency rate on loans issued in 2021 and 2022. That suggests credit card delinquencies will soon peak around the fourth quarter of this year before declining, he estimated.

Persons: That's, Mark Zandi, They've, Zandi, Michele Raneri, they've, Raneri, Gen Zers, Gen Z, LendingTree, Wells Fargo Organizations: Economists, Service, San Francisco Fed, stoke, of Labor Statistics Locations: Wall, Silicon

☆ U.S. business activity nears stand-still in September, survey says
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +3 min

The survey's composite new orders index slid to the lowest since December at 47.7 from 49.2 last month, marking the second straight month of declining new business. The survey's services PMI edged down to an eight-month low of 50.2, fractionally lower than the reading of 50.6 expected by economists in a Reuters poll. S&P's manufacturing PMI ticked higher to 48.9 from 47.9 in August but was still the fifth straight month of contraction. Economists had forecast a manufacturing PMI of 48.0. Despite the softening environment, both manufacturing and services survey respondents indicated companies kept adding to staff levels this month.

Persons: Carlo Allegri, Siân Jones, Jones, Dan Burns, Chizu Organizations: REUTERS, P Global, Federal, PMI, P Global Market Intelligence, Thomson Locations: Manhattan, New York City , New York, U.S

☆ Stocks making the biggest moves premarket: Pinterest, Instacart, Bausch Health and more
▼ + stars: | 2023-09-20 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +2 min

Pinterest — Shares climbed more than 3% during premarket trading after management said at the company's first investor day that it expects year-over-year revenue growth to accelerate following a slowdown in 2022 and 2023. General Mills — The Cheerios and Yoplait maker rose 1% during premarket trading after reporting fiscal first-quarter results that were slightly above Wall Street expectations and reiterating its outlook for fiscal 2024. Instacart — Shares of the grocery delivery company were down nearly 4% one day after its stock market debut. Coty — The cosmetics maker gained nearly 6% during premarket trading after raising its full-year outlook for 2024, citing momentum in fragrances at its prestige brands, including Burberry, Calvin Klein and Gucci. Bausch Health — The pharmaceutical stock gained more than 5% before the market open after Jefferies upgraded it to buy and raised its price target to $16.

Persons: Davidson, Mills —, Instacart, Coty, Calvin Klein, Gucci, Bausch, Goldman Sachs, —, Yun Li, Tanaya Macheel, Pia Singh, Samantha Subin Organizations: Dollar, JPMorgan, Citi, D.A, Burberry, Bausch Health, Jefferies, Bloomberg

In the week ended Sept. 12, money managers expanded their net short position in CBOT corn futures and options to 134,909 contracts from 93,913 a week earlier. That marked funds’ most bearish corn stance since mid-August 2020, when CBOT corn was trading below $3.50 per bushel. Most-active corn futures have traded below $5 since Aug. 21, and they fell 2% in the week ended Sept. 12. Managed money net position in CBOT corn futures and optionsCorn dropped to $4.73-1/2 per bushel on Sept. 12, tying mid-August for the lowest price since December 2020. Most-active CBOT wheat shed 2% in the week ended Sept. 12, dropping to the lowest price since December 2020.

Persons: Lucas Jackson, Corn, Bean, soyoil, Karen Braun, Diane Craft Organizations: Carbon Solutions, REUTERS, Rights, U.S . Department, Agriculture, Futures, Funds, Reuters, Thomson Locations: Defiance, Shelby County , Iowa, Rights NAPERVILLE , Illinois, Chicago, U.S, soymeal, Ukraine, Russia

☆ Stocks making the biggest moves premarket: AMC, Etsy, First Solar and more
▼ + stars: | 2023-09-14 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +3 min

AMC Entertainment — Shares of the movie theater chain jumped 5% in premarket trading after AMC said it had completed the equity offering it announced earlier this month. The company said it sold 40 million shares at an average price of $8.14, raising about $325.5 million. In the second quarter, the company earned 11 cents a share, after adjustments, exceeding analysts' expectations of 2 cents per share, according to FactSet. Penn Entertainment — The sports betting stock climbed 3% in premarket trading following a short-term buy call from Deutsche Bank. The conglomerate sold about 5.5 million shares of HP, worth around $158 million.

Persons: Wolfe, Semtech, Warren Buffett's Berkshire Hathaway, Shawn Fain, Jim Farley, — CNBC's Michelle Fox, Alex Harring, Yun Li, Tanaya Macheel, Jesse Pound, Pia Singh Organizations: AMC, Wolfe Research, Penn Entertainment, Deutsche Bank, BMO Capital Markets, Exxon Mobil, Chevron, Brent, Occidental Petroleum, HP —, HP, Berkshire, General Motors, Ford —, United Auto Workers, Ford Locations: China, Devon, Omaha

LONDON (AP) — The British economy shrank by 0.5% in July amid a series of strikes, particularly by doctors at the start of their careers, and unseasonably wet weather, official figures showed Wednesday. The Office for National Statistics said the strikes by so-called junior doctors weighed on health sector activity, while the sixth wettest July on record hit retailers after a buoyant June, when business was brisk as a result of warm weather. Most economists downplayed the prospect that the British economy would fall into recession as monthly growth figures have been yo-yoing up and down as of late. Still, growth is expected to stay tepid. Political Cartoons View All 1154 ImagesMost economists think the bank will raise its main rate by a further quarter of a percentage point to a fresh 15-year high of 5.5%.

Persons: James Smith Organizations: National Statistics, ING, Bank of England

☆ UK economy shrinks at fastest pace in seven months, hit by strikes and wet weather
▼ + stars: | 2023-09-13 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

The Office for National Statistics are due to release the latest UK CPI Inflation data on Wednesday. The economy put in a better-than-expected performance for the second quarter as a whole, with the ONS reiterating its reading of 0.2% growth. July's surprise dip meant the economy shrank at its fastest pace since December, according to ONS figures. On Tuesday, figures showed U.K. mortgages in arrears jumped to a seven-year high in the three months to June. Major investment banks trimmed their U.K. growth expectations following the reading.

Persons: Jose Sarmento Matos, Goldman Sachs, JP Morgan, James Smith, Paul Dales Organizations: National Statistics, Bloomberg, Getty, ING, Capital Economics Locations: Italian, London

☆ US economy near stalling point as consumer demand weakens, survey says
▼ + stars: | 2023-08-23 | by ( Safiyah Riddle | ) www.reuters.com time to read: +2 min

REUTERS/Jeenah Moon/File Photo Acquire Licensing RightsAug 23 (Reuters) - U.S. business activity approached the stagnation point in August, with growth at its weakest since February as demand for new business in the vast service sector contracted. Wednesday's data was worse than expected, with economists polled by Reuters predicting that the services index would be 52.2 and the manufacturing index would be 49.3. "A near-stalling of business activity in August raises doubts over the strength of U.S. economic growth in the third quarter. Consumer demand posed a substantial drag on revenue for firms, as new business and orders contracted for firms across all sectors. New business in the service sector declined for the first time in six months, falling to 49.2 from 51.0 the month prior.

Persons: Chris Williamson, Safiyah Riddle, Chizu Organizations: REUTERS, P Global, Service, Manufacturing, Reuters, P Global Market Intelligence, Consumer, Fed, Thomson Locations: Little Italy, Manhattan, New York City , New York, U.S

In the week ended Aug. 8, money managers established a net short position in CBOT corn futures and options of 26,656 contracts compared with the previous week’s net long of 16,741 contracts. Money managers’ net long in CBOT soybean futures and options in late July was at a seven-year high for the date, but funds have sold aggressively in the last couple weeks. Most-active CBOT wheat drifted fractionally higher in the week ended Aug. 8. Wheat futures tumbled 4.5% in the last three sessions and finished at $6.26-3/4 per bushel, their lowest settle in two months. Funds reduced their net long in Minneapolis wheat to 4,497 contracts from 7,592 a week earlier, and they slashed their K.C.

Persons: Dane Rhys, Karen Braun, Chris Reese Organizations: REUTERS, U.S . Department of Agriculture, USDA, Funds, Reuters, Thomson Locations: Ravenna , Ohio, U.S, NAPERVILLE , Illinois, Chicago, Minneapolis, Kansas City

☆ European markets climb with inflation, Italian banks in focus
▼ + stars: | 2023-08-09 | by ( Elliot Smith | ) www.cnbc.com time to read: +2 min

LONDON — European markets advanced on Wednesday, as traders digested China's disinflation and Italy's weakening of a surprise windfall tax on banks. The European blue chip index closed the Tuesday session 0.2% lower, with banks shedding 2.7% after the Italian government announced a surprise windfall tax on excess profits. Shares of Italian banks took a tumble on Tuesday as a result of a tax on net interest income announced on Monday. Citi analysts estimated that the levy represent around 19% of Italian lenders' net profits for the year. A Reuters poll of economists produced a consensus forecast for the July print of 3.3% year-on-year, up from 3% in June.

Persons: Hong Kong, Moody's Organizations: Novo Nordisk, Monday, Citi, Global, U.S, CPI, Federal, ABN Amro, TUI Locations: Stocks, China, Hong, Europe

☆ Women’s World Cup United States Loses Knockout Match to Sweden on Penalty Kicks
▼ + stars: | 2023-08-06 | by ( Andrew Das | Juliet Macur | ) www.nytimes.com time to read: +5 min

She had been running, by that stage, for roughly 100 minutes, mounting what appeared at times to be a fearsome, one-woman campaign to keep South Africa in the Women’s World Cup for as long as possible. But Kgatlana, as she had already amply proved in this tournament, does not believe in stopping. First, she spun and writhed and twisted away from a defender, leaving her sprawled on the turf. The Netherlands, in the end, went through to the quarterfinals, where Spain lies in wait in Wellington, New Zealand. Image Thembi Kgatlana, whose goal against Italy had sent South Africa to the round of 16, did all she could to extend its stay.

Persons: Thembi Kgatlana, Stefanie van der Gragt, Daphne van Domselaar’s, Jill Roord, Mark Baker, van Domselaar, Kgatlana, Desiree Ellis’s, ” Ellis, “, ”, David Gray, Daphne van Domselaar, couldn’t, Franck Fife, Lineth Beerensteyn Organizations: Italy, Associated, South, Desiree Ellis’s South, Agence France Locations: South Africa, Netherlands, Spain, Wellington , New Zealand, Italy, Desiree Ellis’s South Africa, New Zealand, jubilation

☆ Fed Meeting Today: What to Watch Ahead of Interest-Rate Decision
▼ + stars: | 2023-07-26 | by ( ) www.wsj.com time to read: 1 min

An interest-rate decision from the FOMC, or Federal Open Market Committee, is due at 2 p.m. The central bank's chair, Jerome Powell, will hold a press conference at 2.30 p.m. The Federal Reserve is likely to raise its benchmark policy rate by 0.25 percentage point to a range of 5.25% to 5.5%, a 22-year high. But recent growth has likely been too brisk for Powell to signal this will be the last hike of this tightening campaign. In the meantime, markets are holding broadly steady, with stock futures close to flat, and Treasury yields and the dollar both fractionally lower.

Persons: Jerome Powell, Powell Organizations: Market, Federal

☆ Italy vs Argentina: Giulia Dragoni, 16-year-old 'Little Messi', makes debut at Women's World Cup
▼ + stars: | 2023-07-24 | by ( Ben Morse | ) edition.cnn.com time to read: +2 min

CNN —The Women’s World Cup saw a moment that will live long in the memory for 16-year-old Giulia Dragoni as she started for Italy against Argentina on Monday. Dragoni – born on November 7, 2006 – began the Group G clash in the heart of Italy’s midfield and became the youngest player to represent Italy in the competition’s history. In contrast, 39-year-old Vanina Correa was in goal for Argentina – she had already made her debut for her country when Dragoni was born. Italy – quarterfinalist in 2019 – was the strongest team throughout the opening game for both sides at Eden Park in Auckland, New Zealand, with some late quality from Cristiana Girelli proving decisive as Italy won 1-0. After the break, with both sides not wanting to lose their opening game, chances were few and far between with the teams prioritizing the avoidance of mistakes over attacking recklessness.

Persons: Giulia Dragoni, Dragoni –, –, ‘ Little Messi, ’, Vanina Correa, Argentina –, Dragoni, Italy –, Girelli, Arianna Caruso, Valentina Giacinti, Cristiana Girelli, Kim Price, she’s Organizations: CNN, Argentina, FIFA, Italy – quarterfinalist, Italy Locations: Italy, European, Italy’s, Barcelona, Eden, Auckland , New Zealand, Argentina

Although those factors caused Chicago corn and wheat futures to surge, speculators have held on to their bearish views thus far. In the week ended July 18, money managers reduced their net short position in CBOT corn futures and options to 46,926 contracts from 63,052 a week earlier. Managed money net position in CBOT corn futures and optionsCBOT December corn futures rallied 6.6% through Tuesday, July 18, though the week included a drop to new yearly lows after the Department of Agriculture expanded the U.S. corn crop outlook. Money managers’ net short in CBOT wheat futures and options has barely changed in the latest three weeks despite a 4% decline in most-active futures during the stretch. Money managers increased their net long in CBOT soybean futures and options to a three-week high of 95,814 contracts through July 18 from 82,748 a week earlier.

Persons: Soymeal, Karen Braun, Matthew Lewis Organizations: U.S, Department of Agriculture, Wednesday, Traders, Reuters, Thomson Locations: NAPERVILLE , Illinois, Ukraine, Chicago, U.S, soyoil

The deal to buy Collins' actuation and flights controls business marks the French engine and aircraft equipment maker's biggest acquisition since the 2018 purchase of seat maker Zodiac. "We are going to move towards more electrical actuation and flight controls," Safran's Chief Executive Officer Olivier Andries said. Collins Aerospace, part of U.S. aerospace and defence giant Raytheon Technologies, recently renamed RTX (RTX.N), said the sale would "optimize resources". Safran said its all-cash offer gave the business it is acquiring an enterprise value of $1.8 billion. Safran said Collins would remain a key customer for the business as a manufacturer of nacelles or engine housings for jetliners, making up 25% of the acquired activity's revenues.

Persons: France's Safran, SAF.PA, Collins, Olivier Andries, Safran, Andries, Pascal Bantegnie, Augustin Turpin, Tim Hepher, Jan Harvey, Jane Merriman, Elaine Hardcastle Organizations: Collins Aerospace, Raytheon Technologies, Airbus, Boeing, French Rafale, Parker Aerospace, Thomson Locations: U.S, Paris, American, Eaton, United States, Europe

☆ European markets flat ahead as traders react to earnings, look ahead to Spanish election
▼ + stars: | 2023-07-21 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

LONDON — European markets were flat on Friday as investors digested a fresh round of corporate earnings and looked ahead to a crucial Spanish election over the weekend. Tech stocks shed 1.6% to continue the previous session's slide, while insurance stocks added 0.8%. The European blue chip index closed out Thursday's session 0.4% higher, though the tech sector dropped 2.5% on the back of weak U.S. tech earnings. The results were ominous for Sunak's ruling party as it looks ahead to a general election in 2024. Earnings season kicks off in earnest next week, when Europe's major banks, pharmaceutical firms, automakers, energy giants and aircraft manufacturers are all due to report.

Persons: Rishi, Pedro Sanchez, Glencore Organizations: Tech, Dow Jones, Nasdaq, Conservative Party, Labour Party, Liberal Democrats Locations: Asia, Pacific, Europe, Europe's, Swiss

Those factors caused a historic 21% plunge in CBOT December corn in the final seven trading days of June, though price steadied immediately after. But money managers in that week expanded their net short in CBOT corn futures and options to 63,052 contracts from 18,209 in the prior week, against expectations for mild net buying. Managed money net position in CBOT corn futures and optionsUSDA lowered U.S. corn yield on July 12 due to dry June weather, but it would still be a new record. U.S. soybean plantings came in far below market predictions on June 30, but money managers have been net sellers of CBOT soybean futures and options in the last two weeks. That was on a 0.5% rise in November soybean futures for the week, and beans rose another 0.8% in the last three sessions.

Persons: steadied, Wheat, Karen Braun, Diane Craft Organizations: U.S . Department of Agriculture, soyoil, U.S ., Reuters, Thomson Locations: NAPERVILLE , Illinois, Chicago, U.S

☆ Earnings are coming in strong, but watch how the stocks trade and where they close
▼ + stars: | 2023-07-14 | by ( Bob Pisani | ) www.cnbc.com time to read: +1 min

Bank earnings are strong this morning, and all the major banks have been trading up in early trading. I've been saying all week the problem is not necessarily going to be earnings, but valuations. JPMorgan is also at a new high this week and is also trading up in the early going on strong results. New highs this week in the S & P 500 are not just occurring because tech stocks are strong. Another upsized IPO begins trading on Nasdaq today Finally, the modest IPO reopening continues.

Persons: I've Organizations: JPMorgan, Nasdaq, Apogee Therapeutics Locations: Atlanta, Delta, fractionally

☆ 2-year Treasury yield continues to slide after cool June CPI figure
▼ + stars: | 2023-07-13 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

U.S. Treasury yields were mostly lower on Thursday after June's inflation print came in cooler than expected , reducing the likelihood of more aggressive interest rate hikes from the Federal Reserve . The yield on the benchmark 10-year Treasury note slid 2 basis points to 3.8417% while the yield on the 2-year fell more than 5 basis points to 4.6872%, and the 5-year yield dropped more than 4 basis points to 4.0277%. At the longer end of the curve, the yield on the 30-year Treasury bond was fractionally higher at 3.9529%. The results could heavily influence the trajectory of the Fed's monetary policy decisions and signal the road ahead for inflation. Auctions will be held Thursday for $70 billion of 4-week Treasury bills and $60 billion of 8-week bills, along with $18 billion of 30-year bonds.

Persons: Steve Hanke, CNBC's Organizations: Treasury, Federal Reserve Locations: United States

As of July 3, CBOT December corn futures had plunged nearly 22% off their June 21 high as much-needed rain for U.S. crops started falling and also appeared in forecasts. December corn fell 12% in the four-day week ended July 3, and money managers flipped to a net short in CBOT corn futures and options of 18,209 contracts. Managed money net position in CBOT corn futures and optionsU.S. soybean plantings on June 30 came in well below all trade guesses, causing a surge in November soybeans . CBOT wheat rose more than 1% over the last three sessions on a slower U.S. winter harvest and possible drought concerns for U.S. and Canadian spring wheat. However, open interest in CBOT wheat futures and options is at the lowest mid-year levels since 2005.

Persons: soyoil, Karen Braun, Leslie Adler Organizations: U.S . Department of Agriculture, USDA, Reuters, Thomson Locations: NAPERVILLE , Illinois, Chicago, Minnesota, Iowa , Wisconsin, North Dakota, U.S

☆ Stocks making the biggest premarket moves: Levi Strauss, Biogen, Alibaba and more
▼ + stars: | 2023-07-07 | by ( Michelle Fox | ) www.cnbc.com time to read: +2 min

The Levi Strauss & Co. label is seen on jeans in a store at the Woodbury Common Premium Outlets in Central Valley, New York, U.S., February 15, 2022. Check out the companies making the biggest moves before the bell:Levi Strauss — The apparel retailer fell 7.7% after slashing its profit outlook for the year postmarket Thursday. Levi now expects adjusted earnings per share of $1.10 to $1.20 for the year, down from $1.30 to $1.40 previously. Alibaba — U.S. listed shares of the Chinese ecommerce retailer gained about 3% before the opening bell. First Solar - Shares added 1.7% after the solar company secured a five-year revolving credit and guarantee facility worth $1 billion.

Persons: Levi Strauss, Levi, Alibaba, Ant, Wanxiang, JPMorgan Chase, Tesla, Twitter, —, Jesse Pound, Sarah Min Organizations: Woodbury, and Drug Administration, Medicare, Reuters, Ant Group, JPMorgan, Bloom, Bloom Energy, RBC Capital Markets, Costco —, Costco, Meta Locations: Central Valley , New York, U.S, Alibaba —, China, Shanghai

Aerial view of skyscrapers standing at the Lujiazui Financial District at sunrise on June 8, 2022 in Shanghai, China. Asia-Pacific markets were mixed as investors await the release of private surveys on services activity in China and Japan. In Japan, the Nikkei 225 fell 0.72% in its first hour of trade and the Topix inched 0.5% lower. Australia's S&P/ASX 200 fell fractionally after the Reserve Bank of Australia held rates at 4.1% on Tuesday. Hong Kong's Hang Seng index is also set to reverse its gains from Tuesday, with futures at 19,265 compared to the HSI's close of 19,415.68.

Persons: Korea's Kospi, Australia's, Hong Organizations: Nikkei, Reserve Bank of Australia Locations: Shanghai, China, Asia, Pacific, Japan, Philippines, Thailand

☆ CNBC Daily Open: Tesla roars in a quiet market
▼ + stars: | 2023-07-04 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Muted marketsMajor U.S. indexes inched up fractionally Monday, in a quiet start to the second half of the year. Electrifying growthTesla shares popped 6.9% yesterday after the company reported a staggering 83% year-over-year growth in deliveries during the second quarter. Rivian shares jumped 17.4% after the company reported 12,640 deliveries during the second quarter, up 59% from the previous quarter.

Persons: Elon Musk, Thierry Breton, Bluesky, Jack Dorsey, Tom Lee, Lee Organizations: SpaceX, Tesla, Twitter, Viva Technology, CNBC, U.S, AstraZeneca's, European Union Locations: Paris, France, Japan, South Korea, China

☆ CNBC Daily Open: Tesla booms in a quiet market
▼ + stars: | 2023-07-04 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Asia-Pacific markets traded mixed Tuesday. [PRO] Weight loss, stock gainA new class of weight loss drugs will be hitting the U.S. soon. With more than two-thirds of adults in the U.S. having obesity, that's a potentially large market for pharmaceutical companies.

Organizations: CNBC, U.S, country's Ministry of Commerce Locations: Asia, Pacific, China, U.S

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