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☆ Amtrak's new high-speed trains have been delayed again because the tracks they're supposed to run on are too old and busted
▼ + stars: | 2023-06-01 | by ( Hannah Towey | ) www.businessinsider.com time to read: +3 min

The debut of Amtrak's new high-speed trains has been delayed for a third year in a row to 2024. It's due to complications passing federal safety checks on the Northeast Corridor, Amtrak said. The Amtrak tracks between Boston and Washington are notoriously run down. The trains' manufacturer, Alstom, says the culprit isn't the trains themselves, but rather the tracks they're supposed to run on. The Amtrak tracks between Boston and Washington, a high-traffic section known as the Northeast corridor, are notoriously rundown — with some tracks dating back 150 years.

Organizations: Amtrak, Morning, Alstom, Federal Railroad, FRA Locations: Boston, Washington, United States, Europe, Asia

☆ Japan stocks are on fire this year. Here are 3 reasons why the rally could have 'staying power'
▼ + stars: | 2023-05-27 | by ( Sarah Min | ) www.cnbc.com time to read: +8 min

Since then, Japanese equities have rallied. Even so, Strategas Securities' Chris Verrone has remained optimistic on Japanese equities, saying this week that the rally is not yet overbought. Meanwhile, JPMorgan chief market strategist Marko Kolanovic said in a note, also on Tuesday, that the rally in Japan still has "staying power." For international investors, those remarks signaled that Japanese companies may be more transparent with shareholders in the future. Investors can also take a company-specific approach, according to Diamond Hill's Mohanraj, who favors Japanese companies that boast differentiated products.

☆ Australia central bank stuns market with 25-bps hike, says more might be needed
▼ + stars: | 2023-05-02 | by ( ) www.reuters.com time to read: +2 min

Wrapping up its May policy meeting, the Reserve Bank of Australia (RBA) lifted rates to 3.85% and said "some further" tightening may be required to ensure that inflation returns to target in a reasonable timeframe. Investors reacted by pushing the Australian dollar 0.9% higher to $0.6687, while three-year bond futures slumped 16 ticks to 96.85. "Given the importance of returning inflation to target within a reasonable timeframe, the Board judged that a further increase in interest rates was warranted today." Home prices are also showing signs of bottoming out, having risen for the second straight month in April, supported by rising migration levels and a chronic shortage in housing supply. Reporting by Wayne Cole; Editing by Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.

☆ US manufacturing contracts again in April, but pace slows
▼ + stars: | 2023-05-01 | by ( Lucia Mutikani | ) www.reuters.com time to read: +6 min

The ISM said its manufacturing PMI increased to 47.1 last month from 46.3 in March, which was the lowest reading since May 2020. The ISM said 73% of manufacturing gross domestic product was contracting, up from 70% in March. "The proportion of manufacturing GDP with a composite PMI calculation at or below 45 percent - a good barometer of overall manufacturing weakness - was 12 percent in April, compared to 25 percent in March," said Timothy Fiore, chair of the ISM Manufacturing Business Survey Committee. Only two of the six biggest manufacturing industries, petroleum and coal products as well as transportation equipment, reported growth. Higher prices align with government data showing wages and salaries in the manufacturing industry growing solidly in the first quarter.

☆ U.S. dollar advances as inflation data affirms Fed rate hike next week
▼ + stars: | 2023-04-28 | by ( Gertrude Chavez-Dreyfuss | ) www.reuters.com time to read: +2 min

The dollar index, a measure of the greenback's value against six major currencies, rose 0.7% to 102.10 . In the 12 months through March, the PCE price index increased 4.2% after climbing 5.1% in February. Excluding the volatile food and energy components, the PCE price index inched up 0.3% after increasing at the same rate in February. The so-called core PCE price index gained 4.6% on a year-on-year basis in March after rising 4.7% in February. Following the data, the rate futures market has priced in a 90% chance of a 25 basis-point hike next week.

☆ Instant View: US March PCE price index shows high, but cooling, inflation
▼ + stars: | 2023-04-28 | by ( ) www.reuters.com time to read: +5 min

The personal consumption expenditures (PCE) price index gained 0.1% in March after rising 0.3% in February. In the 12 months through March, the PCE price index increased 4.2% after climbing 5.1% in February. "Will the Fed raise rates at the May meeting. I don't think it'll influence them one way or another but we expect them to raise rates again. I don’t think it’s going to impact the Fed much if at all.

☆ Debt ceiling drama is back and it's coming for markets. Here's what to know as a deadline looms.
▼ + stars: | 2023-04-19 | by ( Max Adams | ) www.businessinsider.com time to read: +6 min

If the trend returns to the upside, it'll buck many of the gloomiest predictions of a crushing earnings recession and a painful stock market sell-off — at least for now. Last week, markets started showing early signs that investors are stressed about a possible US default as the deadline looms without an agreement in sight. Join us in demanding a reasonable negotiation, a responsible debt ceiling, an agreement that brings spending under control" McCarthy said. Here are the latest market moves. Here's why Morgan Stanley's Mike Wilson doesn't believe in the latest stock market rally.

☆ A 9-hour drive in Toyota's new electric SUV showed me how brutal EV road trips can be with the wrong car
▼ + stars: | 2023-04-15 | by ( Tim Levin | ) www.businessinsider.com time to read: +7 min

I drove the new Toyota bZ4X electric SUV from New York to Washington DC, and back. Charging can take a frustratingly long timeThe 2023 Toyota bZ4X AWD Limited. The 2023 Toyota bZ4X AWD Limited. The 2023 Toyota bZ4X AWD Limited. The 2023 Toyota bZ4X AWD Limited.

☆ Yellen to push for 'speedy' action on debt relief for Zambia, Ghana
▼ + stars: | 2023-04-10 | by ( Andrea Shalal | ) www.reuters.com time to read: +3 min

WASHINGTON, April 10 (Reuters) - U.S. Treasury Secretary Janet Yellen will push this week for urgent resolution of requests by Zambia and Ghana for restructuring of their sovereign debts, and moves to conclude a debt treatment for Sri Lanka, Treasury said on Monday. "During the week, Secretary Yellen will ... maintain urgency for the speedy resolution of Common Framework cases like Zambia and Ghana to remove debt overhangs and foster growth in developing countries," Treasury said. Sri Lanka, Zambia and Ghana have already defaulted on their overseas debt and are working towards debt reworks with creditors. Yellen will discuss the debt issue in separate meetings with officials from the G20 group of major economies and the Global Sovereign Debt Roundtable on Wednesday, the official said. The official expressed hope the global sovereign debt roundtable meeting on April 12 would yield "actual accomplishments," the official said.

There may be more upside to Dutch Bros in 2023 investors expect, according to Wedbush. Analyst Nick Setyan upgraded shares of the drive-thru coffee franchise to outperform from neutral. "We view BROS' current valuation as an overly pessimistic assessment of its medium- and long-term annual growth algorithm," Setyan added. Setyan also thinks that Dutch Bros' strong rewards program will also help drive revenue. Shares of Dutch Bros were up 3.8% Wednesday morning following the upgrade.

☆ 'Avatar: The Way of Water' review roundup: See it on the biggest screen possible, critics say
▼ + stars: | 2022-12-15 | by ( Sarah Whitten | ) www.cnbc.com time to read: +6 min

"The Way of Water" follows Jake Sully (Sam Worthington) and Neytiri (Zoe Saldana) who are now the parents of four Na'vi children. Read more: "Avatar: The Way of Water" could be headed for a $175 million opening weekend Critics are adamant that audiences should watch "The Way of Water" on the biggest screen possible, lauding the film for its you-won't-believe-this-is-computer-generated visuals and bombastic sound design. Here's what critics thought of "Avatar: The Way of Water" before its Friday release. Avatar: The Way of Water Courtesy: Disney Co.Ma did note that "The Way of Water" is "jaw-droppingly beautiful," likening it to watching a David Attenborough documentary rather than a CGI feature. Avatar: The Way of Water Courtesy Disney Co.Mick LaSalle, San Francisco Chronicle

My family budget has a line item for my income: my paid work as a writer, and my unpaid work as a mom. This budgeting strategy gives my unpaid labor value — it recognizes that I work 12-14 hours a day. This unpaid labor balances out in the expense column, so there's no positive cash flow from it, but it appears on the budget anyway. If stay-at-home parents spoke up more about our monetary value, we might be more accurately seen as aggressively employed. Maybe the judgments would subside if we spoke up more about the monetary value of unpaid childcare, starting at home with our personal budgets.

☆ Long Covid may be 'the next public health disaster' — with a $3.7 trillion economic impact rivaling the Great Recession
▼ + stars: | 2022-11-30 | by ( Greg Iacurci | ) www.cnbc.com time to read: +12 min

Norpel is one of millions of Americans with long Covid, also known as long-haul Covid, post-Covid or post-acute Covid syndrome. Key symptoms: Long Covid has been linked to more than 200 symptoms, according to The Rockefeller Foundation. Duration: There's no consistent definition of how long symptoms must persist for someone to be considered a long Covid patient. What experts do know is that for some, long Covid symptoms can last months or even years. "I don't know if it's for the rest of my life or not," Hurst said of feeling long Covid symptoms.

☆ The Chicest Flats For When You’d Rather Wear Heels
▼ + stars: | 2022-11-05 | by ( Katharine K. Zarrella | ) www.wsj.com time to read: +1 min

THE TAMING OF THE SHOE For fans of sky-high footwear, heel-less options often fall flat. But this season offers an abundance of stylish, even-keeled kicks for anyone who is reluctantly abandoning their towering stilettos and hulking platforms. “ABANDON MY HEELS? Clearly not clairvoyant, I haven’t been able to slip into towering footwear for several months. When my doctors told me heels aren’t great for my condition, won’t help my recovery and are absolutely off limits, I started crying on the exam table, which made things awkward.

☆ 'Captain America' Pulisic faces sky-high World Cup expectations
▼ + stars: | 2022-11-02 | by ( Amy Tennery | ) www.reuters.com time to read: +3 min

NEW YORK, Nov 2 (Reuters) - The pressure is on for "Captain America" Christian Pulisic to put on a superhero performance on his World Cup debut in Qatar, building on years of sky-high expectations from his U.S. fans. He was the youngest man to feature in a U.S. World Cup qualifier six years ago aged 17 before suffering the bitter disappointment of failing to qualify for the 2018 edition. The U.S. will be praying he does not pick up an injury ahead of the World Cup with Chelsea involved in so many matches. "And, you know, everything will fall into place once the World Cup comes around." He's seen it all, done it all and I think the World Cup will be a great moment for him."

☆ Rural California city is facing the end of its water supply by Dec. 1
▼ + stars: | 2022-10-24 | by ( Lindsey Jacobson | In | ) www.cnbc.com time to read: +3 min

Coalinga city officials estimate their small town will run out of water by Dec. 1st. Ray Singleton Source: CNBCThe California valley city, located inland between Los Angeles and San Francisco, is home to an estimated 17,465 people. The city has no control over how these facilities use water, and Singleton estimates they pull around 25 to 30 percent of the city's supply. They said they have been working closely with the City of Coalinga to find solutions, including finding water that may be transferred to the city. A large solar farm in the middle of rural farmland in Coalinga California.

☆ A weed gummy theory for the Fed’s high-stakes interest rate gamble
▼ + stars: | 2022-10-12 | by ( Allison Morrow | ) edition.cnn.com time to read: +7 min

Here’s the thing: The Fed right now is wearing blinders, and it only cares about bringing down inflation, my colleague Paul R. La Monica writes. The Weed Gummy TheoryThere’s an analogy offered by investment analyst Peter Boockvar last month that I can’t stop thinking about. He compared the Fed to an eager but inexperienced consumer of weed gummies, which, notoriously, take longer than anyone expects to kick in. Bankruptcies: Rate hikes make it more expensive for companies to pay down debt, increasing the risk of corporate bankruptcies and defaults. The so-called PPI, which tracks what suppliers charge other businesses for goods and services, showed prices going up 8.5% from a year ago.

☆ BlackRock's Rieder says Fed should not panic because rate hikes have lagged effect
▼ + stars: | 2022-09-21 | by ( Patti Domm | In | ) www.cnbc.com time to read: +1 min

BlackRock's Rick Rieder expects the Fed to hike rates by three-quarters of a point Wednesday and says the Fed does not need to raise them by the full percentage point that some expect. The Fed is widely expected to announce the 75 basis point increase to the fed funds rate. The futures market Tuesday was pricing 16% odds that the Fed could even announce a 100 basis point hike Wednesday afternoon. A basis point equals 0.01 of a percentage point. After the 75 basis point hike Wednesday afternoon, "I think the odds of them going 75 one more time are probably 50/50 at this point," he said.

☆ A market-beating inflation ETF manager shares 4 tips for outperforming as red-hot price growth threatens to send stocks to new lows
▼ + stars: | 2022-09-19 | by ( James Faris | ) www.businessinsider.com time to read: +7 min

Here are four tips for navigating this choppy stock market as recession risk rises. "It's an active management approach to US interest rates — that's the key here," Azous told Insider. And for us, that leads to a lower stock market and a more difficult credit market or very much tighter financial conditions. Barring a catalyst like the end of the Russia-Ukraine war, a notable improvement in the Chinese or European economies, or a huge drop in inflation, Azous said he sees more trouble ahead. "You want to avoid a catastrophic drawdown that keeps you invested in the stock market," Azous said.

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