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Best Movies of 2023
  + stars: | 2023-12-01 | by ( Manohla Dargis | Alissa Wilkinson | More About Manohla Dargis | ) www.nytimes.com   time to read: +3 min
I saw hundreds of new films with a variety of plots and styles made on every imaginable scale and budget. The movies have ostensibly been at death’s door at least since the shift to sync sound, which isn’t to undersell the industry’s business woes. “Indiana Jones and the Dial of Destiny” was “cursed,” read one headline; “‘Mission: Impossible 7’ falls short of expectations,” ran another. The moaning in the trades gave way to klaxon horns when much of SAG-AFTRA went on strike on July 14. This year also reminded us that a mass audience will happily get out of the house for movies without superheroes.
Persons: Manohla, Rockwell, Martin Scorsese, shutdowns, Topsy, , bullish, Indiana Jones, , AFTRA, Barry Diller, “ Barbie ”, “ Oppenheimer ” Organizations: Yahoo, Sundance Film, Writers Guild, SAG, Paramount, Marvel Locations: Cannes
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhy Apple doubled down on the expensive custom chip business, edging out Intel and starting a trendApple has designed its own custom chips for iPhones since 2010, kicking off a trend followed by other non-chip giants like Google, Microsoft, Amazon and Tesla. In November, CNBC became the first journalists to film inside an Apple chip lab, where it tests its latest M3 chips that replaced Intel processors in all new Macs. We also got a rare chance to talk with Apple's head of silicon, Johny Srouji, about geopolitical risks in Taiwan, slowdowns, and what's next in AI.
Persons: what's Organizations: Intel, Apple, Google, Microsoft, CNBC Locations: Taiwan
Next year could be the year for certain dividend stocks, according to Wolfe Research. The S & P 500 Dividend Aristocrats Index is composed of companies that have increased dividends for at least 25 consecutive years. Here are some of the names in the S & P 500 Dividend Aristocrats Index. For investors who prefer funds, they can also get exposure through the ProShares S & P 500 Dividend Aristocrats exchange-traded fund. NOBL YTD mountain ProShares S & P 500 Dividend Aristocrats ETF — CNBC's Michael Bloom contributed reporting.
Persons: Chris Senyek, Senyek, Wolfe, Roz Brewer, Tim Wentworth, Wentworth, Medtronic, Michael Bloom Organizations: Wolfe Research, Federal, Materials, Walgreens, Shields Health,
Once a darling of the tech world, Dell stock is up nearly 120% in just over a year. Dell is a prime example of a stock that has recently disconnected from its fundamentals as a result of the hype from AI. Dell reports earnings in a week and I believe this is an opportunity to fade it going into earnings. With implied volatility quite elevated going into earnings, my preference is to be a seller of options and volatility. I'm looking out to the Dec 29 weekly options and selling the $75/82 call vertical for a $2.47 credit.
Persons: Dell Organizations: Dell, DELL
Gap hasn't managed to reverse its ongoing revenue slump, but its same-store sales were far better than expected. Gap saw modest improvements at Old Navy and its eponymous banner. The brand saw strength in women's and kids, and an uptick in activewear. The brand is still reeling from the shutdown of Yeezy Gap and saw comparable sales decline 1%. Banana Republic: Sales at Banana, known for its workwear and going out pieces, fell 11% compared to last year to $460 million.
Persons: Richard Dickson, Dickson, I'm, we've, Katrina O'Connell Organizations: LSEG, Old Navy, Banana Republic, Mattel, CNBC, Navy Locations: Banana, activewear, Gap
Leading fund manager Kimberly Scott doesn't think a recession will kill the market's momentum. US stocks caught fire in late October and have now nearly recovered from a three-month-long selloff that started in August. Still, Scott said she expects the US economy to keep growing in 2024 as earnings growth accelerates once again. If price growth retreats to normal levels, Scott said growth-oriented stocks should outperform in 2024. 6 top stocks to own in 2024After sharing her optimistic view about earnings and the economy, Scott listed six stocks she's bullish on heading into 2024.
Persons: Kimberly Scott doesn't, Scott's, it's, Scott, Nathan Brown, Bradley Halverson, she's, Wall, They've Organizations: Business, Investors, Reserve, Delaware, Companies, Consumer
The top investing mind at Citi Global Wealth believes a long-awaited economic slowdown isn't around the corner — it's in the rearview mirror. Job creation is starting to slow , the investment chief noted, but lower interest rates could certainly change that. Higher earnings will be driven by lower wage growth and improved productivity from innovations like artificial intelligence, Bailin said. As for stocks, Bailin prefers funds tracking the equal-weight version of the S&P 500 as earnings rise across the board. Growth stocks have carried the market this year, and the investment chief said he continues to prefer the group to cyclicals despite his rosy economic outlook.
Persons: David Bailin, , Bailin, slowdowns, I've, Bailin doesn't, — they'll Organizations: Citi Global Wealth, Business, Investors, Federal Reserve, Citi, Goldman Sachs, Management
watch nowThe global shipping industry has been mired in a freight recession this year and the challenging economic conditions will continue into 2024, according to a new CNBC Supply Chain Survey. The CNBC Supply Chain Survey was conducted October 21-October 31 among logistics executives who manage freight manufacturing orders and transportation, including those at C.H. "Without more freight moving, 2024, and potentially 2025, will continue to see soft pricing as capacity outstrips demand," he said. Freight trucking will remain soft Trucking companies get paid per load, and low expectations for orders imply potentially lower revenue this holiday season. A slightly better second half 2024 outlook The survey shows expectations for a slight turnaround in freight volume in the second half of 2024.
Persons: Robinson, Kuehne, Nagel, Zhang Jingang, Alan Baer, Noah Hoffman, Jeff Bezos, Uber, Tim Robertson, Robertson, Brian Bourke Organizations: CNBC Supply Chain Survey, CNBC, Chain Survey, SEKO Logistics, DHL Global, USA, ITS Logistics, Getty, Logistics, C.H, Surface Transportation, Convoy, Tank Transport Locations: Qingdao, Shandong province, China
Strikes at car and truck plants are likely to have a widespread impact on manufacturing activity given their large supply chains. Energy consumption by industrial users steadied over the third quarter, which was consistent with the worst of the manufacturing downturn being over. The stabilisation of both diesel and industrial electricity sales in the summer was consistent with manufacturing activity steadying ahead of a renewed expansion. Because the industrial downturn has been long but shallow, distillate inventories remain well below the long-term seasonal average. Return to expansion would likely cause diesel stocks to deplete rapidly and put upward pressure on industrial prices quickly.
Persons: Andrew Kelly, John Kemp, Louise Heavens Organizations: REUTERS, Institute, Supply, Federal Reserve, Global, U.S, Thomson, Reuters Locations: IceStone, New York City , New York, U.S, Chartbook
Starbucks CEO Laxman Narasimhan spoke with CNBC's Jim Cramer on Thursday after the coffee giant reported earnings for its fourth quarter that beat Wall Street expectations. Narasimhan discussed the company's plans to expand its stores in China, its second-largest market. The company saw headwinds in China over the past few years, with business stalled due to the country's prolonged zero-Covid policy. This quarter saw China's same-store sales grow 5% and customer traffic increase 8%, although the average ticket declined 3%. After 24 years of business in China, Narasimhan said per capita coffee consumption lies at 12 cups per person.
Persons: Laxman Narasimhan, CNBC's Jim Cramer, Narasimhan, We've Organizations: Starbucks, LSEG Locations: China, U.S, Japan, Shanghai
Many Texas manufacturing businesses are struggling amid economic uncertainty. AdvertisementAdvertisementMany Texas manufacturing businesses are not happy about how the economy is doing. The survey of 94 Texas manufacturers detailed how many Texas manufacturing firms are struggling. Still, the survey's production index, which measures Texas' manufacturing conditions, improved in October, despite a decline in the new orders index. Comments included in the report showed that across manufacturing, businesses are unsure about how to prepare for the future.
Persons: , Raymond James, Larry Adam, Harley Bassman, I'm, there's, David Solomon, Goldman Sachs, we've Organizations: Dallas Fed, Service, Texas Manufacturing, Federal Reserve Bank of Dallas, Companies, Bloomberg, Management Locations: Texas, China, U.S, Ukraine
The Federal Reserve continued its pause on interest rate hikes in November. Still, uncertainty going into 2024 suggests an interest rate cut won't happen anytime soon. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Still, while the Federal Open Market Committee has remained cautiously optimistic about the direction the economy is moving toward, it doesn't anticipate interest rate cuts will happen anytime soon. Its meeting minutes from September stated that some participants felt it necessary to shift the conversation from "how high to raise the policy rate to how long to hold the policy rate at restrictive levels."
Persons: , Jerome Powell, Powell, we've, Janet Yellen, Goldman Sachs, David Solomon Organizations: Federal Reserve, Service, Federal, Market Committee, White House's Council, Economic Advisors, Bloomberg, United Auto Workers Locations: American, Ukraine, China
Elon Musk, Jamie Dimon, and Ray Dalio all have serious concerns about the US economic outlook. Leon Cooperman, David Solomon, and David Rosenberg have also predicted trouble in recent days. AdvertisementAdvertisementJamie Dimon, Elon Musk, and Ray Dalio are just some of the high-profile commentators who've raised the alarm on the economic outlook in recent days. Elon Musk, CEO of Tesla"I think there's still quite a few shoes to drop on the bad credit situation. David Rosenberg, president of Rosenberg Research"I am willing to acknowledge that the recession has been delayed.
Persons: Elon Musk, Jamie Dimon, Ray Dalio, Leon Cooperman, David Solomon, David Rosenberg, , who've, Jeremy Grantham, Tesla, I'm, Rosenberg, We've, Goldman Sachs, there's, we've, Larry Fink, Fink, Stephen Schwarzman, Blackstone, we'll, Harley Bassman Organizations: Service, JPMorgan, Omega, Bridgewater Associates Locations: Israel, Ukraine, China
The second largest contributor to real gross domestic product growth in the third quarter came from business inventories (1.3 percentage points). South Korea's KOSPI-100 equity index, which is usually a good proxy for global trade given its heavy weighting towards export-oriented firms, rebounded strongly through the end of July. But the index has since weakened, consistent with the renewed downturn in volumes shown in the global trade index. UNCERTAINTYUncertainty about the economic outlook and ambiguous data are usually greatest around turning points in the business cycle. Related columns:- Persistent U.S. services inflation dampens oil outlook (October 13, 2023)- U.S. manufacturing rebound will stretch diesel supplies (October 5, 2023)- Global container freight stuck in doldrums (June 23, 2023)- Global freight shows signs of bottoming out (April 27, 2023)John Kemp is a Reuters market analyst.
Persons: Stringer, Korea's, John Kemp, David Evans Organizations: REUTERS, Global, Economic, Service, Real, Ministry of Transport, Treasury, Thomson, Reuters Locations: Qingdao, Shandong province, China, United States, Netherlands, CHINA, ASIA, Singapore, Asia, Europe, Japan, Narita, EUROPE Europe, Ukraine, Germany, doldrums
Wall Street will be closely looking at Tesla's gross margins to gauge if the trough has passed — or if there's more downside potential ahead. Ahead of Tesla's quarterly release, several Wall Street analysts have pulled back their performance forecasts. Wells Fargo cuts target price Wells Fargo trimmed its price target by $5 to $260 on Oct. 9, leaving its investment recommendation at equal weight. However, we doubt either will be enough, and therefore more px cuts, particularly globally, may be needed in Q4 to hit the delivery target." The broker has a sell rating on the stock and a price target of $125 which, if reached, would send Tesla 49% lower.
Persons: Tesla, StreetAccount, they've, Elon, Piper Sandler, slowdowns Piper Sandler, Wells, Goldman Sachs, Tesla Goldman Sachs, Guggenheim, bearish Guggenheim, Michael Bloom Organizations: Bank, Deutsche Bank, Wall, Tesla, Austin & Shanghai Locations: StreetAccount, 4Q23, China, Austin, EVs, U.S
Investors should be very cautious, two leading Wall Street CEOs warned on recent earnings calls. JPMorgan's Jamie Dimon cautioned the boost to portfolios from public policy wouldn't last. 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 . AdvertisementAdvertisementTwo Wall Street heavyweights have urged investors to be careful as they navigate a morass of economic and geopolitical threats.
Persons: JPMorgan's Jamie Dimon, Goldman Sachs, David Solomon, , Jamie Dimon, Dimon, Solomon, there's, we've, Goldman Organizations: Wall, Service, JPMorgan, AlphaSense, Hamas, Federal Reserve, Goldman Locations: China, Russia, Ukraine, Israel
Casino stocks are slumping – and that could be bad news for the US economy. Top investor Jim Chanos has touted the Las Vegas strip as a potential economic indicator in the past. Casino stocks' losses have likely been driven by Wall Street taking a gloomier view on the economy, according to analysts. Las Vegas' next big test will be the third-quarter earnings season, with most casino operators expected to announce their results over the next month. AdvertisementAdvertisementDisappointing figures could be one of a growing number of signals suggesting that, like gambling stocks, the economy might be headed for the red.
Persons: Jim Chanos, , Organizations: Service, Publicly, Vegas Sands, MGM Resorts, Bellagio, MGM, Federal Reserve, Gaming, Wall, Vegas, US Consumer Locations: Vegas, Las Vegas
Renewed manufacturing growth will boost industrial energy consumption, especially for diesel, but with inventories still low, prices are set to escalate rapidly, rekindling concerns about inflation. SOFT LANDING? The mid-cycle slowdown or “soft landing” of 1989/90 and the cycle-ending “hard landing” of 1990/91 are usually considered as one episode. Blinder has argued the Federal Reserve would have achieved a soft landing if oil prices had not spiked for unrelated reasons. Related columns:- Global diesel shortage boosts prices (September 13, 2023)- Prolonged U.S. manufacturing slowdown barely dents energy use (September 5, 2023)- U.S. diesel prices surge anticipating a soft landing (August 11, 2023)- U.S. manufacturing slowdown fails to rebuild diesel stocks (August 2, 2023)John Kemp is a Reuters market analyst.
Persons: Bing Guan, Alan Blinder, Blinder, Saddam Hussein’s, , Saddam Hussein, Alan Greenspan, John Kemp, Alexander Smith Organizations: Angeles Refinery, California Air Resources Board, Institute, Supply, Federal Reserve, Reserve, Global, U.S, Thomson, Reuters Locations: Angeles, California, Carson , California, U.S, Kuwait, Blinder, United States, Europe, China
Tom Barkin, president of the Richmond Fed, recently commented on housing on the "Odd Lots" podcast. Home prices have stayed high as the pandemic sparked a "secular change" in the way people think about housing. That could mean sectors other than housing will need to see slowdowns, he suggested. AdvertisementAdvertisementHe added that the housing market ultimately remains imbalanced, and that could mean sectors other than housing will need to see slowdowns. But relative prices move all the time, and if what we've seen is a secular shift toward more demand for housing, that might mean somewhat less lessening of housing prices and somewhat more lessening of other prices."
Persons: Tom Barkin, , Barkin Organizations: Richmond Fed, Service
UBS initiates Fiverr as buy UBS said the Israeli online marketplace company has "significant upside." UBS upgrades Fluor to buy from hold UBS said the construction and engineering stock is underappreciated. Bank of America upgrades Orange to buy from underperform Bank of America double upgraded the European telco company and says it has upside potential. Bank of America reiterates Blackrock as buy Bank of America said the asset management company is well positioned. Mizuho reiterates Nvidia as buy Mizuho added the stock to its top picks list and says it's an AI winner.
Persons: Morgan Stanley, Tesla, it's, underappreciate FLR, TD Cowen, Key, Goldman Sachs, Goldman, Oppenheimer, Mizuho, Coinbase, Bernstein, PTON Organizations: US, UBS, Americas Corp, Bank of America, underperform Bank of America, Tech, of America, Apple, JPMorgan, Netflix, ARM, " Bank of America, Blackrock, Nvidia, Mizuho, NOVA Locations: Argentina, Argentine, Orange, 3Q23, 4Q23
File Photo: A view of the BHP Billiton's Escondida, the world's biggest copper mine, in northern Chile, in Antofagasta, Chile March 31, 2008. Though the sprawling Escondida mine could continue to operate even if supervisors walked off the job, a strike could lead to production bottlenecks or slowdowns. "I have no doubt that the strike will win," union head Alexis Barrera said in an interview, adding that nearly all members have already cast their votes. The union accuses BHP of looking to reduce benefits and production bonuses while extending working hours. Chile's powerful Union 1 workers' union said it would stand in solidarity with the Escondida supervisors and ensure that no "illegal replacements" came on the job in the event of a work stoppage.
Persons: Ivan Alvarado, Alexis Barrera, Barrera, Escondida, Fabian Cambero, Kylie Madry, Rami Ayyub Organizations: BHP, Escondida, REUTERS, Rights, Thomson Locations: Chile, Antofagasta
A shutdown could risk Social Security payments and SNAP benefits. But with House Republicans in disarray , that seems unlikely to happen before the weekend deadline. But even if the Senate agrees on that measure, House Republicans continue to be at odds. Speaker of the House Kevin McCarthy told Punchbowl News on Tuesday that he wouldn't engage in "hypotheticals" when it comes to a clean Senate funding bill. AdvertisementAdvertisementStill, the Biden administration is continuing to place the blame on House Republicans for bringing the US to the brink of a government shutdown once again.
Persons: , Nancy Altman, Biden, Tom Vilsack, Vilsack, that's, Chuck Schumer, Mitch McConnell, Kevin McCarthy, Jeff Stein, McCarthy, Gofyc437z6 —, I'm Organizations: SNAP, Service, Republicans, Social, Social Security, CNN, Women, Assistance, WIC, USDA, Management, Budget, Punchbowl News, Conservative, Washington, Representatives Locations: America
About 8,000 trailers carrying an estimated $1 billion worth of goods have been stranded on the Mexican side over the past week, said Manuel Sotelo, president of the transport association of Ciudad Juarez, a major manufacturing hub across from El Paso, Texas. The delays forced a Canadian snowmobile and off-road vehicle manufacturer to suspend production on Monday and Tuesday at three factories in Ciudad Juarez that employ some 9,000 people. "Due to the waiting times on the international bridges in Ciudad Juarez, we have had a significant reduction in the volume of units that we can export daily," the Quebec-based company, BRP, said in a statement. Jesus Salayandía, a representative of the Mexican industry association Canacintra, said he expected other companies in Ciudad Juarez would announce temporary work stoppages if the long wait times at the border continue. U.S. border authorities suspended cargo processing at one of El Paso's international bridges last week to shift officers to process more migrant arrivals.
Persons: Manuel Sotelo, Sotelo, Jesus Salayandía, Ferromex, Jose Luis Gonzalez, Laura Gottesdiener, Isabel Woodford, Sonali Paul Organizations: . Customs, Border Protection, Patrol, U.S ., Ciudad, Reuters, BRP, El, U.S . Customs, Protection, Union Pacific, Wednesday . Union Pacific, Thomson Locations: Zaragoza, Ysleta, U.S, Cordova, Americas, CIUDAD JUAREZ, Mexico, Ciudad Juarez, El Paso , Texas, New Mexico, Arizona, Texas, Canadian, Quebec, Mexican, United States, Eagle Pass , Texas, Monterrey, Mexico City
Sliding yen raises intervention threat, dollar reigns
  + stars: | 2023-09-25 | by ( Rae Wee | ) www.reuters.com   time to read: +4 min
Japanese yen and U.S. dollar banknotes are seen with a currency exchange rate graph in this illustration picture taken June 16, 2022. "I don't think the level matters that much and will be the trigger (for intervention). Yellen said last week whether Washington would show understanding over another yen-buying intervention by Japan "depends on the details" of the situation. Elsewhere, the euro gained 0.05% to $1.0649, after having fallen to a six-month low of $1.0615 on Friday against a stronger dollar. The dollar index , which on Friday touched an over six-month high, firmed at 105.58.
Persons: Florence Lo, Kazuo Ueda, Governor Ueda, Carol Kong, Janet, Yellen, Sterling, Thierry Wizman, Rae Wee, Christopher Cushing Organizations: U.S, REUTERS, Rights, Bank of Japan, Reserve, Commonwealth Bank of Australia, Treasury, Bank, Fed, New Zealand, Thomson Locations: Rights SINGAPORE, Washington, Japan, U.S
Sliding yen stokes intervention threat; dollar reigns
  + stars: | 2023-09-25 | by ( Rae Wee | ) www.reuters.com   time to read: +4 min
Japanese yen and U.S. dollar banknotes are seen with a currency exchange rate graph in this illustration picture taken June 16, 2022. "I don't think the level matters that much and will be the trigger (for intervention). Yellen said last week whether Washington would show understanding over another yen-buying intervention by Japan "depends on the details" of the situation. Elsewhere, the euro gained 0.04% to $1.0649, after having fallen to a six-month low of $1.0615 on Friday against a stronger dollar. The dollar index , which on Friday touched an over six-month high, firmed at 105.57 in early Asia trade.
Persons: Florence Lo, Kazuo Ueda, Governor Ueda, Carol Kong, Janet, Yellen, Sterling steadied, Thierry Wizman, Rae Wee Organizations: U.S, REUTERS, Rights, Bank of Japan, Reserve, Commonwealth Bank of Australia, Treasury, Bank, Fed, New Zealand, Thomson Locations: Rights SINGAPORE, Washington, Japan, U.S, Asia
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