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[1/2] Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., December 1, 2023. The Pentagon said it was aware of reports regarding attacks on an American warship and commercial vessels in the Red Sea on Sunday, while Yemen's Houthi group claimed drone and missile attacks on two Israeli vessels in the area. Such worries flared after Hamas’ Oct. 7 attack into southern Israel but subsided in recent weeks. Quincy Krosby, chief global strategist at LPL Financial, said a widening conflict could push some investors to take profits on the recent rally in stocks. Signs of an intensifying Middle East conflict could also boost oil prices, which have slumped in recent weeks.

Persons: Brendan McDermid, Yemen's, Quincy Krosby, ”, “, Phil Orlando, Federated Hermes, Santa Claus, Orlando, I'm, Krystal Hu, Ira Iosebashvili, Chizu Organizations: New York Stock Exchange, REUTERS, Hamas, Pentagon, Reuters, LPL, U.S ., Federated, West Texas, Thomson Locations: New York City, U.S, American, Israel, United States, Iraq, Iran, Santa

☆ Signs of a sector rotation — plus 2 more themes to watch in the stock market
▼ + stars: | 2023-12-02 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

Historically, November is the best month of the year for the stock market, and December is third, according to the Stock Trader's Almanac. Under the surface this week, we also saw signs of a possible market rotation in the works. Rotation watch : We must look to next week's trading for confirmation that we're in the grips of a rotation or simply a head fake. Signs of the former were on display this week as the two of the biggest sector winners of the year, communication services and technology , trailed the market. Jobs, jobs, jobs : The most important release of the week comes Friday in the form of the November nonfarm payrolls report.

Persons: Jerome Powell, That's, Locker, it's, Hock Tan, We'll, Joann, JOAN, JM Smucker, OLLI, Campbell Soup, Brown, Forman, LULU, Smith, Jim Cramer's, Jim Cramer, Jim, Spencer Platt Organizations: Wall, Dow, Nasdaq, Federal, Broadcom, Marvell Technology, Cisco Systems, VMWare, Club, PMI, Labor, Signet Jewelers, SIG, Brands, Toll, Thor Industries, Natural Foods, GameStop, Vail Resorts, MTN, Smith & Wesson, Jim Cramer's Charitable, CNBC, New York Stock Exchange, Getty Locations: Asana, ASAN, New York City

☆ Don’t read too much into those Black Friday and Cyber Monday spending totals
▼ + stars: | 2023-11-28 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +6 min

“It shows the psychological mind frame of consumers,” said Mickey Chadha, vice president of corporate finance at Moody’s Investors Services, referring to holiday spending data. This year, dollar sales growth for the holidays in the United States is forecast to slow to 3.3% from 6% last year. It means the spending growth it reported was “driven by net-new demand, not simply higher prices,” Adobe said. The experts CNN spoke to were all in agreement: Holiday spending data — no matter how good or bad — doesn’t represent the state of the entire US economy. A report she coauthored with Chadha predicts holiday sales will grow “a fairly modest 1% to 3%” this year.

Persons: ”, Mickey Chadha, Aditya Bhave, David Paul Morris, That’s, Tamara Charm, Charm, ” Adobe, Chedly Louis, Chadha, Michael Zdinak, he’s, Bhave, that’s Organizations: New, New York CNN, Moody’s Investors Services, Adobe Analytics, Adobe, P Global Market Intelligence, Bank of America, Bloomberg, Getty, Consumer, Consumers, McKinsey, CNN, Moody’s Investors Locations: New York, United States, That’s

☆ The Beatles Are Still Charting the Future of Pop. It Looks Bleak.
▼ + stars: | 2023-11-21 | by ( Peter C. Baker | ) www.nytimes.com time to read: +4 min

In that context, the “Now and Then” movie’s upfront billing of the track as the last Beatles song feels like a two-pronged rhetorical move. But the truth, ultimately, will lie not with any facts inherent to the universe of existing Beatles recordings. If you can make a Beatles single using ideas from two dead Beatles, then you can make one with ideas from three dead Beatles — or even, perhaps, from four. It reminds me of the Beatles without sounding like the Beatles — and why should it, when Lennon didn’t write it for them? But I suspect that, in this late project, the always-innovative Beatles are once again ahead of their time.

Persons: Drake, Johnny Cash, Taylor Swift, Hank Williams, I’ve, McCartney, Lennon didn’t, relistened

☆ Black Friday came early this year, signaling worries about holiday demand
▼ + stars: | 2023-11-17 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +5 min

Mario Tama | Getty Images News | Getty ImagesEarly Black Friday discounts were far higher this October compared to prior years, signaling retailers are concerned that demand could be tepid during the crucial holiday shopping season. Last year, about 30% of overall holiday sales happened online and other non-stores versus physical retail locations, according to the NRF. On average, 7.8% of all items were on sale at some point during the month compared to just 4.9% in 2019 and 3.3% in 2021. In Oct. 2022, prices were down just .7% compared to the prior year and in Oct. 2021, prices were up 1.9% compared to the prior year. The following year, when both inventories and inflation had grown and consumers were starting to feel the burn of high prices, promotions rose.

Persons: Barbie, Mario Tama, GlobalData, They're, it's, Daniel Rubin, John's University's Peter J, Brett House, we've Organizations: Walmart, Getty, Adobe Analytics, Adobe, CNBC, National Retail Federation Retail Monitor, ., Tobin College of Business, Columbia Business School Locations: Burbank , California, GlobalData

☆ A bunch of terrible stuff happened to Jennifer Weisselberg after she ratted on her husband and the Trump Organization to prosecutors
▼ + stars: | 2023-11-14 | by ( Grace Eliza Goodwin | Erin Snodgrass | ) www.businessinsider.com time to read: +6 min

Jennifer Weisselberg is the former daughter-in-law of Allen Weisselberg, who served as the chief financial officer for the Trump Organization and was convicted of tax fraud earlier this year. Eviction proceedings against Jennifer Weisselberg began in October 2020 with Allen Weisselberg listed as her guarantor. But over the next few months — as Jennifer Weisselberg began speaking publicly with the media about the Trump Organization — the lawsuit against Jennifer and Allen Weisselberg shifted, according to The Nation. In March 2023, Jennifer Weisselberg signed a settlement agreement to pay back half the rent she owed and move out. AdvertisementAdvertisementJennifer Weisselberg told The Nation she believed speaking out against the Trump Organization would help her get her kids back.

Persons: Jennifer Weisselberg, Allen Weisselberg, —, it's, Jennifer, Barry Weisselberg, Donald Trump, Allen Weisselberg's, Barry Weisselberg didn't, Jennifer Weisselberg's, Allen, Barry Organizations: Trump Org, Service, Trump Organization, The, Trump Organization —, York County Civil, Court, Bellevue Hospital Locations: York County, Florida, Manhattan

The revamped Congressional District 2, which was designed to boost the voting power of Black residents, has a voting-age population that is 48.7% Black, giving the district a decidedly Democratic tilt. State Republicans, however, say they are not ceding the seat without a fight. A federal judge ordered Georgia to draw an additional Black-majority congressional district, although the state plans to appeal. The Alabama district is an open seat in the 2024 election after the current representative, Republican Rep. Barry Moore, was drawn out of the district. Moore has decided to challenge Republican Rep. Jerry Carl in Congressional District 1.

Persons: —, Zac McCrary, Viet Shelton, Shelton, John Wahl, Wahl, ” Wahl, Barry Moore, Moore, Jerry Carl, Marine James Averhart, Napoleon Bracy, Jr, Sen, Merika Coleman, Anthony Daniels, Vivian, Brian Gary, Juandalynn, Jeremy Gray, Phyllis Harvey, Willie J, Lenard, Vimal Patel, Larry Darnell Simpson, Darryl Sinkfield, Greg Albritton, Dick Brewbaker, Caroleene Dobson, Karla M, Wallace Gilberry, Hampton Harris, Stacey T, Belinda Thomas Organizations: Democratic, Republican, Representatives, Republicans, Alabama, U.S . House, Congressional, Democratic Congressional, Committee, Democrats, Associated Press, State Republicans, Alabama Republican, Democratic Party, Republican Rep, Marine, Hall, Alabama Education Association, NFL, University of Alabama, Newton City Locations: Ala, Alabama, Georgia , Louisiana, Viet, ”, Florida, Georgia, Prichard, Pleasant Grove, Huntsville, Birmingham, Opelika, Newton

☆ Electricity Use Booms in Texas, a Harbinger for the Country
▼ + stars: | 2023-11-13 | by ( Jennifer Hiller | ) www.wsj.com time to read: 1 min

Everything is bigger in Texas, including its electricity use, which is increasing at historic rates in a sign of what is to come for much of the U.S. The country’s largest electricity producer and user saw sales grow at five times the national rate for the past decade, roughly like adding Louisiana. A crushing heat wave this summer broke 10 peak demand records for the main Texas grid operator, which narrowly avoided blackouts one hot evening.

Organizations: U.S Locations: Texas, Louisiana

DETROIT (AP) — Autoworkers at the first Ford factory to go on strike have voted overwhelmingly in favor of a tentative contract agreement reached with the company. About 3,300 United Auto Workers union members went on strike at the plant Sept. 15 after the union's contract with Ford expired. They remained on the picket lines until Oct. 25, when the union announced the tentative deal with Ford. Production workers voted 81% to ratify the deal, while skilled trades workers voted 90% in favor. At its peak 46,000 union members had gone on strike at eight assembly plants and 38 parts warehouses across the nation.

Persons: — Autoworkers, Shawn Fain, Rich Boyer, Fain, Boyer, ”, “, ” Masters Organizations: DETROIT, Ford, Michigan, Plant, United Auto Workers, Ford ., Local, UAW, General Motors, GM, Wayne State University, . Workers, Detroit Locations: Wayne , Michigan, Detroit

☆ Fingers Crossed: Flu Season Might Not Be So Bad This Year
▼ + stars: | 2023-10-31 | by ( Sumathi Reddy | ) www.wsj.com time to read: 1 min

There’s some good news about flu season this year. Doctors and scientists don’t expect the worst. The flu season in the Southern Hemisphere, where the cold-weather illness period wraps up as we head into ours, often serves as a harbinger of what’s to come for us. There, cases picked up a little earlier than usual in some countries but didn’t result in an especially large number of hospitalizations and deaths, say public health experts and doctors.

Organizations: Southern

WASHINGTON (AP) — Before House Speaker Mike Johnson was elected to public office, he was the dean of a small Baptist law school that didn't exist. “The law school deal was really an anomaly. As dean of the proposed law school, Johnson embarked on a major fundraising campaign and described a big-dollar event in Houston with former Arkansas Gov. Bobby Jindal and Pressler, according to an account Johnson wrote in a 2011 alumni magazine. Meanwhile, the historic former federal courthouse in Shreveport that was selected as the law school’s campus required at least $20 million in renovations.

Persons: Mike Johnson, Johnson, Kevin McCarthy, It's, “, ”, Gene Mills, Johnson's, ” J, Michael Johnson, Southern Baptist Convention luminary, Tony Perkins, Jerry Falwell, “ I’m, Joe Aguillard, Mike Huckabee, Bobby Jindal, Aguillard, “ Mike, Gilbert Little, ” Johnson, Perkins, Little, Barack, Kelly, Kelly Johnson, Louis “ Woody ” Jenkins, Jenkins, Democrat Mary Landrieu, Moon Griffin, Eugene Mills, Mills, ” Mills, Johnson’s, George W, Bush’s, it’s, Lamar White Jr, Lamar, Richard Lardner, Trenton Daniel Organizations: WASHINGTON, Paul Pressler School of Law, Louisiana College, Louisiana Christian University, Republican House, Southern Baptist Convention, Family Research, Southern Poverty Law, Liberty University, Daily, ”, Arkansas Gov, Louisiana Gov, Freedom Guard, Southern Baptist Conference, Shreveport Times, ABC News, Louisiana State University, Democrat, Louisiana Family, Alliance Defense Fund, Alliance Defending, ADF, CNN, Democratic, Civil, Associated Press Locations: Louisiana, Washington, Alexandria , Louisiana, Houston, Pressler, Africa, Shreveport, Shreveport , Louisiana, everyone’s, America, New Orleans, Texas, Orleans Parish, Trump’s, Baton Rouge, New York

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

☆ Opinion | Mike Johnson Is a Right-Wing Fever Dream Come to Life
▼ + stars: | 2023-10-27 | by ( Jamelle Bouie | ) www.nytimes.com time to read: +2 min

He is staunchly against the bodily autonomy of women and transgender people and supports a nationwide ban on abortion and gender-affirming care for trans youth. In a 2003 essay, Johnson defended laws that criminalized homosexual activity between consenting adults. If Johnson is known for anything, however, it is for his tireless advocacy on behalf of Donald Trump’s attempt to overturn the 2020 presidential election. Johnson wrote one of the briefs purporting to give a legal justification for throwing out the voting results in several swing states. The new speaker is, in short, an election-denying extremist who believes that his allies have the right to nullify election results so that they can impose their vision of government and society on an unwilling public.

Persons: Johnson, Hodges, Donald Trump’s, Jim Jordan Organizations: House Republican, Republicans Locations: ”, Venezuela, United States

☆ New House Speaker Mike Johnson once wrote that homosexuality will lead to 'chaos and sexual anarchy'
▼ + stars: | 2023-10-26 | by ( Thibault Spirlet | ) www.businessinsider.com time to read: +4 min

Rep. Mike Johnson of Louisiana was elected to be the speaker of the House on Wednesday. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAdvertisementNewly-elected speaker of the House , Mike Johnson, has a history of making anti-LGBTQ+ statements, once going so far as saying homosexuality was a "dark harbinger of chaos and sexual anarchy." AdvertisementAdvertisement"If everyone does what is right in his own eyes, chaos and sexual anarchy will result," he wrote. While working for the ADF, Johnson wrote an amicus brief , first published by CNN, opposing a US Supreme Court decision, Lawrence v. Texas , which struck down state laws that criminalized consenting same-sex relationships in 2003.

Persons: Mike Johnson of, —, Mike Johnson, Johnson, Lawrence, Louisiana's, Hodges, — Johnson, Joe Biden's Organizations: CNN, Service, The Times, Alliance Defense Fund, Alliance Defending, Southern Poverty Law Center, ADF, Lawrence v . Texas, Associated Press, Freedom Guard Locations: Mike Johnson of Louisiana, Shreveport , Louisiana, Lawrence v ., Louisiana, Obergefell

☆ Asian stocks bounce on China spending plans; inflation jolts Aussie
▼ + stars: | 2023-10-25 | by ( Tom Westbrook | ) www.reuters.com time to read: +4 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) rose 0.9% and the Hang Seng (.HSI) 2%. China's top parliament approved a 1 trillion yuan ($137 billion) bond issue, state media reported adding the funds would be spent rebuilding disaster zones and improving infrastructure. Investors pulled forward European rate cut expectations a little and the euro was nursing losses at $1.0594. The annual pace of inflation in Australia slowed in the third quarter, but at 5.4% was above forecasts of 5.3%. Oil fell in commodity trade on Tuesday, thanks to the weak economic data from Europe, and was nursing losses on Wednesday.

Persons: Dado Ruvic, hawkish, Bonds, Steven Leung, UOB Kay Hian, Leung, Glenn Yin, Lincoln Organizations: REUTERS, Japan's Nikkei, Treasury, Central, Central Huijin, Investors, 25bp, ANZ, Brent, AETOS Capital Group, U.S . Securities, Exchange Commission, Thomson Locations: China, SINGAPORE, Asia, Pacific, Japan, Tokyo, U.S, Hong Kong, Central, Australia, Europe, Melbourne, United States, Russia, Israel, Gaza, BlackRock

☆ Opinion: Restaurants should end tipping for good
▼ + stars: | 2023-10-24 | by ( Opinion Corey Mintz | ) edition.cnn.com time to read: +6 min

The Wall Street Journal described this as Chicago eliminating the “tips-as-wage system,” which makes it sound like a ban on tipping. It’s a shame, because tipping has always been a scam that enables restaurants to suppress labor costs, which keeps menu prices down. Tipping emerged as a model for employing formerly enslaved Black workers without having to pay them a real wage, if anything at all. Instead, restaurants should pay a living wage (if the revenue does not cover the actual cost of labor, what kind of business is it? Despite today’s dire labor shortage, precious few restaurants seem willing to re-examine their employment model in order to address it.

Persons: Corey Mintz, CNN — It’s, Jaime Hogge, Steve Hanke, Nick Kokonas, ” Kokonas, “, Tipping, North America wouldn’t, ” Organizations: Public Affairs, CNN, Twitter, Chicago Locations: Chicago, Toronto , Ontario, North America

☆ A high-probability trade on Netflix into earnings used by options traders
▼ + stars: | 2023-10-18 | by ( Nishant Pant | ) www.cnbc.com time to read: +6 min

Let us start by examining the historical price movement in NFLX after the last four earnings events. As traders place their bets on an upcoming event like this, demand for options increases, and the price of options that expire just after earnings is inflated by supply and demand. This is instantly reflected in options pricing on the following day after earnings, and options lose all this inflated juice thereby dropping drastically in value. Trade execution: These post earnings trades are quick. Traders put them on 1 to 2 hours before the market close on the day earnings are about to be announced.

Persons: NFLX Organizations: Netflix, condor, Condor, Traders Locations: NFLX

The arguments in the Michel case could preview issues to come as the technology makes a rapid advance. “We think AI technology is gong to completely revolutionize the legal field by making it faster and cheaper to get complex answers to legal questions and research,” Katz said. “At bottom, the AI program failed Kenner, and Kenner failed Michel. Using it for closing arguments is complicated because of the many factors that develop over the course of a trial, he said. Generative AI, meanwhile, also sometimes produces “hallucinations,” statements that initially read as if they are accurate but are not.

Persons: ” Michel, Michel, David Kenner, Suge Knight, Snoop Dogg, Kenner, Diddy, Peter Zeidenberg, It's, Neil Katz, “, ” Katz, Sharon Nelson, “ It's, ”, Zeidenberg, Barack Obama’s, Trump, Leonardo DiCaprio, Jeff Sessions, John Villasenor Organizations: WASHINGTON, —, Associated Press, Sensei Enterprises, Justice Department, U.S, University of California, American Bar Association Locations: Malaysian, China, Los Angeles

☆ Treasury bond auctions have been ugly lately, and weak demand could be a 'canary in the coal mine'
▼ + stars: | 2023-10-14 | by ( Filip De Mott | ) www.businessinsider.com time to read: +4 min

A recent string of Treasury auctions has suffered from weak investor demand. But Ed Yardeni thinks yields are already at the right levels to start bringing back demand. AdvertisementAdvertisementA string of recent Treasury bond auctions saw a major slump in investor demand, and that could be a harbinger of a trend that sends yields higher, strategists said. But market veteran Ed Yardeni told Insider that bond yields could already be at the right levels to bring back demand. AdvertisementAdvertisementHe also noted that while the recent auctions didn't go well, bond yields didn't shoot to new highs.

Persons: Ed Yardeni, —, Bill Ackman, Larry Fink, Bill Gross, Yardeni, Penn Wharton Organizations: Securities, Service, Treasury Department, TD Securities, Treasury

The pickle-wardrobe mania is emblematic of what sets TikTok Shop apart from e-commerce competitors like Shopify and Amazon. Just like TikTok's non-shopping content, TikTok Shop is built around viral videos, be it a surge in viewer interest in pickle-jar sweatshirts or a mad rush to buy freeze-dried Skittles . For UK sellers, chasing virality still seems to be the defining characteristic of the TikTok Shop experience. Jessica Slone runs TikTok shop Bad Addiction Boutique, which has sold tens of thousands of pickle-jar sweatshirts. "TikTok Shop is kind of this roller coaster, and right now it's on this amazing uphill journey.

Persons: TikTok, Dill, Frank Bloomer, Ashley Martinez, Michael Herling, I'm, it's, Herling, Jessica Slone, Slone, TikTok's, Lindzi Shanks, Shanks, TikTok doesn't, Virality, Laura Ritchey, Sellers, Julia Cote, hadn't, influencers, they'd, Ben Muir, virality, Hira Tariq, who's, Candy, there'll, It's, Boutique's Slone Organizations: US, TikTok Shop, Shipping Locations: Grillo's, West Texas

☆ Billionaire investor Jeff Gundlach warns of a recession as markets roil: 'Buckle up'
▼ + stars: | 2023-10-04 | by ( George Glover | ) www.businessinsider.com time to read: +2 min

"If the unemployment rate ticks up just a couple of tenths it will be recession alert," Gundlach wrote on X. AdvertisementAdvertisementBond-market turmoil could be a sign that a recession is on the way, Jeff Gundlach has warned. "The US Treasury yield curve is de-inverting very rapidly," Gundlach wrote in a post on X. That "should put everyone on recession warning, not just recession watch," he added. That's led to the gap in returns offered by 2- and 10-year Treasurys narrowing to just 33 basis points, for the tightest yield curve since late March.

Persons: Jeff Gundlach, Gundlach, Buckle, —, That's, –, David Lebovitz Organizations: DoubleLine, Service, Treasury, Federal Reserve, London School of Economics, JPMorgan

☆ US stocks rise as bond yields pull back from 16-year highs
▼ + stars: | 2023-10-04 | by ( Phil Rosen | ) www.businessinsider.com time to read: +2 min

US stocks moved higher on Wednesday, while bond yields declined Tuesday's highs. ADP reported private payrolls climbed 89,000 in September, below forecasts of 160,000. 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 . AdvertisementAdvertisementUS stocks moved higher on Wednesday, as the 10-year US Treasury yield retreated slightly after hitting 16-year highs.

Persons: payrolls, —, Dow Jones, Dan North, Quincy Krosby Organizations: Treasury, Service, Dow Jones Industrial, Nasdaq, Federal Reserve, Fed, Allianz Trade North, JPMorgan, Dow Jones Locations: Allianz Trade North America

☆ What could break under higher-for-longer interest rates?
▼ + stars: | 2023-09-29 | by ( ) www.reuters.com time to read: +5 min

Yet, the strain from interest rate hikes has just started to come through and with central banks signalling that rates will likely stay higher for longer, the notion of something "breaking" remains strong. Reuters Graphics Reuters Graphics1/ PROPERTY PAINNowhere is the impact of higher rates being felt more acutely than in real estate, still reeling from COVID-19. "We have many zombie companies in the United States and Europe from the low interest rates era, and I cannot imagine how they can survive now with high interest rates." Still, big question marks remain over their future, not least from a global property rout. Miller noted that European banks are also vulnerable given their bigger size relative to the economy that leaves them more exposed to risks from various pockets.

Persons: Jonathan Ernst, Heimstaden, Markus Allenspach, Julius Baer, Guy Miller, Miller Organizations: . Federal, REUTERS, Reuters Graphics Reuters, SBB, China Evergrande, HK, Federal, European Central Bank, Zurich Insurance, The Bank of Japan, Capital, Thomson Locations: Washington, Sweden, Europe, Stockholm, Berlin, CHINA, China, United States, Big U.S

Biden's presence at the event was historic and extraordinary: Both the White House and labor union experts said that a sitting president has never walked a picket line in support of striking workers. Presidents typically try to mediate when management and labor union disputes threaten to disrupt the economy. President Ronald Reagan in 1981 fired more than 11,000 striking air traffic controllers, delivering a major blow to the labor union movement. Trump also promised auto workers in Lordstown, Ohio, in 2017 that their plant would not close, so “don’t move. Biden's backing of electric vehicles has some auto union members worried they will lose their jobs in gasoline-powered auto plants, and Trump has exploited that concern to his advantage.

Persons: Joe Biden, Biden, you’ve, Ronald Reagan, It's, Erin Hatton, Donald Trump, Trump, Sean Fain, Ford, they're, Erik Loomis, Loomis, Hatton, Hattan Organizations: United Auto Workers, Ford, Big Three, White House, UAW, Motor Co, General Motors, Chrysler, University of Buffalo, Michigan, Trump, Anderson Economic Group, Gallup, Hollywood, Writers Guild of America, University of Rhode Locations: Michigan, Wayne County, Lordstown , Ohio, Michigan’s Macomb County, California, University of Rhode Island, Las Vegas

☆ Bank of America says this sold-off EV stock offers 'pure-play exposure' and can rally 50%
▼ + stars: | 2023-09-26 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Fisker may grow out of its ugly duckling phase in the ever-growing electric vehicle market, Bank of America said. Analyst John Babcock initiated coverage of the underperforming electric vehicle stock at a buy. "FSR offers investors pure-play exposure to the rapidly growing EV market, has key milestones coming in 2024 and a lower risk business model than peers," he said in a note to clients Tuesday, also describing the stock as a "pure-play EV force." Tesla's price cuts could be a harbinger for volume and profitability troubles for Fisker, Babcock warned. But Babcock used Bank of America's framework for analyzing automotive technology stocks, which looks at positioning and disruptive threats.

Persons: John Babcock, Babcock, Fisker's, Tesla, It's, Lucid, Fisker, Michael Bloom Organizations: Bank of America, Global, Autonomous & Electric Vehicles ETF, EV, Bank

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