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☆ 10 analysts just hiked their price targets on these 3 stocks — including a Big Tech AI firm
▼ + stars: | 2024-10-21 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

A slew of Wall Street analysts last week turned even more bullish on three stocks ahead of their quarterly earnings reports. CNBC Pro screened for stocks in the MSCI World Index that have received share price target upgrades from Wall Street analysts over the past seven days. Despite raising their price target, Phillip Capital analysts have a "neutral" rating on the stock. The median price target of 17 analysts points to 18% upside potential. The company's share price is correlated to the price of gold , and also copper to a lesser degree.

Persons: Barrick, Jeffrey Wlodarczak, Wlodarczak, Zuckerberg, Helena Wang Organizations: Street, Ltd, Barrick Gold, CNBC Pro, Wall Street, Facebook, Research, Limited, New York Stock Exchange, Phillip Capital Locations: U.S, Singapore, SeaMoney, Canada

ACCRA, Ghana — Illegal small-scale gold mining in Ghana has been linked with the destruction of the environment and illness. A protest in Accra, Ghana, demanding government action on illegal gold mining. Yaw Amoafo, who owns several small gold mines employing 20 to 30 people each, said public anger at galamsey mining has forced him to cease operations. He added that he feared the government would introduce a short-term ban on small-scale mining, like the one it implemented in 2017. Earlier this year it opened the government-backed Royal Ghana Gold Refinery, with the intent of getting it accredited by the LBMA.

Persons: galamsey, Nana Akufo, Nipah Dennis, Cristina Aldehuela, Addo, Yaw Amoafo, “, ”, Amoafo, Eddie James Richmond, Neil Harby, Harby, Francis Kokoroko, Swissaid Organizations: West, Water Resources Commission, Getty, Ghana’s Ministry of Land, Resources, Ghana Water Ltd, International Institute for Strategic Studies, Watch, Ghana’s Minerals, International Monetary Fund, Sahara Royal Gold Refinery, London Bullion Market Association, Reuters, State Department, Royal, Royal Ghana Gold Refinery Locations: ACCRA, Ghana, Accra, ”, AFP, Cape Coast, Pra, Kibi, London, U.K, South Africa, Africa, Switzerland, Mali, Zimbabwe, Royal Ghana

☆ Here are the 5 things that could move the stock market in the week ahead
▼ + stars: | 2024-10-20 | by ( Zev Fima | ) www.cnbc.com time to read: +10 min

Earnings drove the stock market higher — can they do it again in the week ahead? But he acknowledged that timing is key because our portfolio discipline mandates that we consider lightening up our stock exposure in an overbought market. In fact, AMD was our worst-performing stock for the entire week, losing more than 7% following the prior week's 1.8% slide. Energy was the worst sector of the week for the market as oil prices sank. In the week ahead, housing numbers are the main draw on the economic front.

Persons: Jim Cramer, ASML, Morgan Stanley, WTI, industrials, We're, Sartorius, Danaher, we're, Stanley Black, Lockheed Martin, Philip Morris, Clark, Baker Hughes, Lam, DOV, CARR, Davidson, Northrop, Edwards Lifesciences, Jim Cramer's, Jim, Stocks, Tuesday's, Spencer Platt Organizations: Dow, Nasdaq, Netflix, Modelo, Corona, Constellation Brands, Taiwan Semiconductor Manufacturing Company, Nvidia, AMD, Broadcom, Club, Abbott Laboratories, Energy, Texas, Honeywell, Danaher, Federal Reserve, Treasury, SAP, Logitech, Verizon, General Motors, GE Aerospace, GE, Lockheed, Quest Diagnostics, Norfolk Southern, Polaris, Seagate Technology, Texas Instruments, Canadian National Railway Company, Boeing, GE Vernova, Fisher, Boston, General Dynamics, Hilton, Lam Research, Business Machines, IBM, Newmont, Viking Therapeutics, Vista Energy, Mattel, O'Reilly Automotive, Whirlpool, American Airlines, United Parcel Service, Southwest Airlines, Tractor Supply Company, Carrier Global, Dow Chemical, DOW, Harley, Union Pacific, Valero Energy, Hasbro, Northrop Grumman, Ryder, Boyd Gaming, Western, Boston Beer Company, York Community Bancorp, Colgate, Palmolive, Newell Brands, Jim Cramer's Charitable, CNBC, NEW, Traders, New York Stock Exchange, Getty Locations: BlackRock, CrowdStrike, U.S, Dover, Freeport, McMoRan, Kimberly, Norfolk, Las, ORLY, VALE, New York City

☆ The Greats: Florence Welch, Lorna Simpson, Jonathan Anderson and Theaster Gates
▼ + stars: | 2024-10-17 | by ( The New York Times | Lauren Groff | ) www.nytimes.com time to read: +37 min

The musician Florence Welch, photographed in London on July 5, 2024. For nearly two decades, Florence Welch’s songs have offered a mythic view not only of pop music but of the glories and rages of being a female artist today. When I rang the Camberwell, South London, doorbell of Florence Welch, I held a tribute: “The Penguin Book of Spiritual Verse” (2022), edited by Kaveh Akbar. Exacerbating the mixed craving for and fear of having a baby and what it would mean for her art, Welch feels the intense pressure of aging as a female performer. Art begins in the body; art is limited by the limitations of the body; at some point, art exceeds the body and can live beyond the scope of flesh.

Persons: Florence Welch, Valentino, Luis Alberto Rodriguez, Vanessa Reid FLORENCE, Florence Welch’s, Inanna, Enheduanna, Jane Hirshfield PROPHETESS, “, Kaveh Akbar, I’ve, Welch, they’re, enormity, Madame Blavatsky, ”, Fleetwood, Taylor Swift, William Morris, Evelyn Welch’s, Vanessa Reid, Welch wouldn’t, who’ve, Nick Cave, Patti Smith, Stevie Nicks, Tom Waits, Jeff Buckley, Sam Cooke, Otis Redding, ” Welch, Ganavya Doraiswamy, who’s, Welch’s —, Doraiswamy, Uyir, Federico García Lorca’s, it’s, Shakespeare, Mozart, Toni Morrison, Lorca, It’s, Jack Antonoff, she’s, Chanel, Nick Welch, Sebastians, she’d, dryly, Bugsy Malone ”, Grace, squats . Welch, Isabella Summers, hasn’t, didn’t, Fiona Apple, Kate Bush, Regina Spektor, Annie Lennox, Joanna Newsom, Sinead O’Connor, thrall, ’ She’s, Gustav Klimt, who’d, Jimi Hendrix, Janis Joplin, Jim Morrison, Kurt Cobain, She’d, Dave Grohl, Scott Fitzgerald’s, Thomas Bartlett, Nico Muhly, Yoko Ono, Sufjan Stevens, Nick Carraway’s, Jay Gatsby, —, hadn’t, spiraled, Louis Vuitton, John, John Singer Sargent, Sargent, Miss Elsie Palmer ”, I’d, “ I’ve, Britney Spears, Dolly Parton, ” I’d, de Wilde, ” de Wilde, Julia Margaret Cameron, Leonora Carrington, Remedios Varo, Loie Fuller, Ellen Terry, Lady MacBeth ”, ’ ” Welch, they’d, King ”, King, Elvis Presley, revel, Ovid, Apollo, preternaturally, Anthony Turner, Thom Walker, Afra Zamara, Jack Symes, Sam Hearn, Daiki Tajima, Federico Covarelli, Emily Rose Lansley, John Allan, Samanta Falcone, Ollie Kariel, Pip Long, Karen Avenell, Andreea Georgiana Rădoi, Sam Wright Organizations: Machine, YouTube, Enheduanna, University of Bristol, Smiths, Big, Camberwell College of Arts, Foo Fighters, American, Theater, Antonoff, Tate, John Singer, Jolly, Art, Digital Locations: London, FLORENCE, Camberwell, South London, Florence, Florida, ”, Camberwell —, British, Tamil, Spanish, Strasbourg, dyscalculia, Toronto, squats ., Cambridge, New York City, Tate Britain, American, “

☆ How Florence Welch Turned Rage Into Power
▼ + stars: | 2024-10-17 | by ( Lauren Groff | The New York Times | ) www.nytimes.com time to read: +37 min

The musician Florence Welch, photographed in London on July 5, 2024. When I rang the Camberwell, South London, doorbell of Florence Welch, I held a tribute: “The Penguin Book of Spiritual Verse” (2022), edited by Kaveh Akbar. Exacerbating the mixed craving for and fear of having a baby and what it would mean for her art, Welch feels the intense pressure of aging as a female performer. In the latter part of the song, Welch raises her voice in a long howl of rage. Art begins in the body; art is limited by the limitations of the body; at some point, art exceeds the body and can live beyond the scope of flesh.

The musician Florence Welch, photographed in London on July 5, 2024. When I rang the Camberwell, South London, doorbell of Florence Welch, I held a tribute: “The Penguin Book of Spiritual Verse” (2022), edited by Kaveh Akbar. Chanel coat, price on request, (800) 550-0005; Valentino tights (worn underneath), $1,000; and Welch’s own dress, headband and jewelry. An aversion to definition is a great gift to an artist like Welch. Art begins in the body; art is limited by the limitations of the body; at some point, art exceeds the body and can live beyond the scope of flesh.

The musician Florence Welch, photographed in London on July 5, 2024. When I rang the Camberwell, South London, doorbell of Florence Welch, I held a tribute: “The Penguin Book of Spiritual Verse” (2022), edited by Kaveh Akbar. Chanel coat, price on request, (800) 550-0005; Valentino tights (worn underneath), $1,000; and Welch’s own dress, headband and jewelry. Exacerbating the mixed craving for and fear of having a baby and what it would mean for her art, Welch feels the intense pressure of aging as a female performer. Art begins in the body; art is limited by the limitations of the body; at some point, art exceeds the body and can live beyond the scope of flesh.

The musician Florence Welch, photographed in London on July 5, 2024. For nearly two decades, Florence Welch’s songs have offered a mythic view not only of pop music but of the glories and rages of being a female artist today. When I rang the Camberwell, South London, doorbell of Florence Welch, I held a tribute: “The Penguin Book of Spiritual Verse” (2022), edited by Kaveh Akbar. An aversion to definition is a great gift to an artist like Welch. Art begins in the body; art is limited by the limitations of the body; at some point, art exceeds the body and can live beyond the scope of flesh.

☆ GM to invest $625 million in joint venture to mine EV battery raw materials in U.S.
▼ + stars: | 2024-10-16 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

General Motors Chair and CEO Mary Barra is shown on screen via livestream as she introduces her digitally delivered keynote address at CES 2022 at The Venetian Las Vegas on January 5, 2022 in Las Vegas, Nevada. DETROIT — General Motors has agreed to establish a joint venture with Lithium Americas Corp. that includes the automaker supplying $625 million in cash and credit to the Canadian mining business, the companies announced Wednesday. The deal is centered on the development, construction and operation of a lithium carbonate mining operation called Thacker Pass in Humboldt County, Nevada. Securing raw materials such as lithium from the U.S. is crucial to GM's plans to profitably grow its all-electric vehicle business to meet tightening federal requirements of the vehicles and the large batteries needed to power them. "Sourcing critical EV raw materials, like lithium, from suppliers in the U.S., is expected to help us manage battery cell costs, deliver value to our customers and investors, and create jobs."

Persons: Mary Barra, Motors, We're, Jeff Morrison Organizations: DETROIT —, Lithium Americas Corp, GM Locations: Vegas, Las Vegas , Nevada, DETROIT, Humboldt County , Nevada, U.S

☆ GM makes a $625 million lithium-battery move to shore up its EV supply chain
▼ + stars: | 2024-10-16 | by ( Grace Eliza Goodwin | ) www.businessinsider.com time to read: +3 min

General Motors is investing $625 million in the electric vehicle supply chain. The funds will help Lithium Americas Corp develop and operate a major lithium mine in Nevada. Despite EV production cuts, GM aims to strengthen the domestic lithium supply chain. AdvertisementDetroit-based automaker General Motors is pumping money into the domestic supply chain for electric vehicle batteries. Related stories"Today's joint venture announcement is a win-win for GM and Lithium Americas," Evans continued.

Persons: —, Jonathan Evans, " Evans, Jeff Morrison, GM's Organizations: Motors, Americas Corp, Service, General Motors, EV, GM, US Department of Energy, DOE, Lithium, Rio Tinto, Street Journal Locations: Nevada, Detroit, Humboldt County , Nevada, Thacker, North America, Lithium Americas, Rio

☆ It looks like the glory days of luxury are over for LVMH, at least for now
▼ + stars: | 2024-10-16 | by ( Nora Redmond | ) www.businessinsider.com time to read: +2 min

LVMH reported a 3% decline in sales in its most recent quarter. The drop is driven by decreased demand from Chinese consumers, affecting luxury sales. AdvertisementFrench luxury conglomerate LVMH, the world's largest luxury company, reported a 3% year-on-year decline in sales in its most recent quarter. On Wednesday, LVMH shares fell by nearly 7% in early trading, driven by waning demand from Chinese consumers, who were once key spenders of European luxury goods. Some Chinese luxury consumers have been flocking to Japan to take advantage of lower prices caused by the country's currency downturn.

Persons: LVMH, —, Louis Vuitton, Christian Dior —, lockdowns, Jean, Jacques Guiony Organizations: Service, Louis, National Development, Reform Commission Locations: Beijing, China, Covid, Asia, Japan, United States, Europe

☆ Giant tube worms found living beneath the ocean’s floor
▼ + stars: | 2024-10-16 | by ( Ashley Strickland | ) edition.cnn.com time to read: +8 min

CNN —Scientists have uncovered communities of animals such as tube worms and snails living in volcanic caves beneath the seafloor, revealing a previously unknown but thriving ecosystem. An eelpout swims by a tower of tube worms at the Tica Vent, a hydrothermal vent site on the East Pacific Rise. Tube worms are immobile creatures that settle and grow in one place without moving, like barnacles. A large cluster of stationary tube worms thrives at the Fava Flow Suburbs, a site on the East Pacific Rise. Researchers use a robotic arm to lift a small portion of volcanic rock to verify that life exists beneath the ocean floor.

Persons: “, ”, Dr, Sabine Gollner, Gollner, ” Gollner, Monika Bright, ” Bright, Alex Rogers, Rogers, It’s, ” Rogers, Mónika Naranjo, Shepherd Organizations: CNN —, Central America, Nature Communications, Royal Netherlands Institute for Sea Research, Ocean Institute, Schmidt Ocean, University of Vienna, Ocean Locations: Central, limnology, ”

☆ Stocks making the biggest moves midday: United Airlines, Morgan Stanley, ASML, Prologis and more
▼ + stars: | 2024-10-16 | by ( Sean Conlon | ) www.cnbc.com time to read: +3 min

United Airlines – The stock soared 11% after the airline posted an earnings and revenue beat for the third quarter and guided for a strong fourth quarter. In addition, United said it is starting a $1.5 billion share buyback, its first since before the Covid pandemic. The firm posted earnings of $1.88 per share, higher than the $1.58 expected by a LSEG analyst poll. J.B Hunt Transport Services – Shares added 3.4% after the company posted a top and bottom line beat. J.B. Hunt posted $1.49 earnings per share on $3.07 billion of revenue in the third quarter.

Persons: United, Morgan Stanley, Novocure, J.B, Hunt, LSEG, Aspen Aerogels, FactSet, Prologis, Hamid Moghadam, —, Alex Harring, Hakyung Kim, Samantha Subin, Pia Singh, Michelle Fox Organizations: Food and Drug Administration, United Airlines, Revenue, Cisco Systems, Citi, Food, ASML, J.B Hunt, Aspen, of Energy, U.S . Bancorp, General Motors, Lithium Americas Corp Locations: Dutch, U.S

☆ The 'godfather' of driverless cars says Tesla has a major advantage in the self-driving race
▼ + stars: | 2024-10-15 | by ( Hugh Langley | ) www.businessinsider.com time to read: +7 min

Anthony Levandowski, who co-founded Google's Waymo, says Tesla has a huge advantage in data. Musk has promised self-driving Teslas for the better part of a decade. Likewise, Levandowski said he hoped for "a little more steak and less sizzle" on the substance of Tesla's self-driving technology. Related storiesYet perhaps few people understand the nitty-gritty of self-driving tech better than Levandowski. Uber's advantageWhile Tesla and Waymo compete for tech supremacy, Uber might be the frontrunner in the robotaxi race right now.

Persons: Anthony Levandowski, Google's Waymo, Tesla, Levandowski, —, Elon, that's, Musk, Uber, Donald Trump, That's, a16z, Waymo, Dmitri Dolgov, Ben Thompson, Thompson, Levandowki Organizations: Business, Google, Service, Wall Street, Wayve, General Motors Locations: Pronto

☆ Why yesterday's SpaceX launch was such a huge deal for space travel
▼ + stars: | 2024-10-14 | by ( Ellie Zolfagharifard | Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +6 min

After liftoff, the Super Heavy booster returned to the launch in a world-first maneuver. The Super Heavy booster released Starship on its path toward space, then began to fall back to Earth. A huge step toward Musk's vision of colonizing MarsOn Sunday, SpaceX's Super Heavy booster returned home and was caught in midair with giant mechanical arms. SpaceX makes rocket historyIn past Starship test flights, the Super Heavy booster either exploded mid-flight or landed in the water. SpaceX said regulators were delaying Starship's fifth test launch because of minor changes and that the FAA was dragging its heels.

Persons: —, Elon Musk, Musk, I'd, Musk's, Olivier de Weck, It's Organizations: SpaceX, Super, Service, YouTube, Space Shuttle, astronautics, MIT, FAA, New York Times Locations: Texas

☆ Residents in rural Texas are suing their noisy neighbor: a humming bitcoin mining facility
▼ + stars: | 2024-10-11 | by ( Geoff Weiss | ) www.businessinsider.com time to read: +3 min

Residents near Granbury, Texas, want an 'intolerably loud' crypto mine to stop. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementResidents of Hood County in northern Texas have filed a lawsuit against a local bitcoin mining facility, alleging its "intolerably loud" noises and physical vibrations have caused mental and physical health problems. AdvertisementOne impacted resident, Cheryl Shadden, has difficulty sleeping and has experienced hearing loss, vertigo, and tinnitus, according to the suit. AdvertisementResident Liana Oechsle told NBC 5 that the facility has a right to exist but wants it to be more responsible.

Persons: —, Cheryl Shadden, it's, Hood, Daniel Lakey, Liana Oechsle Organizations: Service, Marathon Digital Holdings, Marathon, Fox, NBC, Business Locations: Granbury , Texas, Hood County, Texas, America, China, North Carolina, Ohio, Arkansas

☆ More M&A activity in Argentina and Australia’s lithium operations expected: Portfolio manager
▼ + stars: | 2024-10-10 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMore M&A activity in Argentina and Australia’s lithium operations expected: Portfolio managerRomano Sala Tenna of Katana Asset Management discusses Rio Tinto's acquisition of Arcadium Lithium and explains why he expects to see more consolidation in the lithium mining space.

Persons: Romano Sala Organizations: Katana, Rio Locations: Argentina

☆ Alums of $16 billion Tiger Cub Lone Pine have struggled to hack it on their own — with one notable exception
▼ + stars: | 2024-10-10 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +7 min

In the past five years, four other alums have either shuttered or stopped trading hedge fund strategies. It's the latest spinoff from long-running Tiger Cub Lone Pine Capital to shutter. Lone Pine, the $16 billion firm led by co-chief investment officers Kelly Granat and David Craver, was founded in 1997 by billionaire Steve Mandel. Inside the Lone Pine family treeGaonkar's experience is far from the norm for Lone Pine alums though. Firms like Lone Pine, Tiger Global, Coatue, Viking Global, Maverick, Light Street, and others have lasted for decades and minted billionaires along the way.

Persons: Scott Coulter's, Mala Gaonkar, —, Coulter, Cowbird, Pine, Kelly Granat, David Craver, Steve Mandel, Mandel, Julian Robertson's, Lone, Coatue, redemptions, Gaonkar, David Byrne, SurgoCap, Abobe, David Stemerman's, Scott Phillips, Matt Iorio's, Li Ran's, Brian Eizenstat's, Paul Eisenstein's, Nikhil Trikha, Arthur Wit, that's, Andreas Halvorsen's, Dan Sundheim's, Ben Jacobs, Ning Jin, Marco Tablada, Robertson, Tom Purcell Organizations: Service, Business, Lone Pine, Julian Robertson's Tiger Management, Cubs, Roberston's Tiger Management, Tiger, CNBC, Nvidia, GE, Figma, Pine, Latimer, Elm, Sky Capital, CenterBook Partners, Ampersand Capital Group, Global, Fund Research, Tiger Cub, Tiger Management, Viking Global, Viking Locations: Lone, Lone Pine, Granat, Texas, Li Ran's London, California, Viking

☆ Ali Wong’s hilariously debauched ‘Single Lady’ is an atypical take on divorce
▼ + stars: | 2024-10-09 | by ( ) www.nbcnews.com time to read: +5 min

In “Single Lady,” her fourth, self-directed hour, all guardrails are off. But with “Single Lady,” Wong wants to do more than simply recount her exploits to an ecstatic crowd at L.A.’s Wiltern Theater. One of the best bits of “Single Lady” sees her express naked condescension towards insecure male comedians and the younger women they make her babysit at various dinner parties. Wong’s fans already know the title of “Single Lady” is something of a misnomer. “Single Lady” is far from a how-to guide, but it’s a riveting testimonial.

Persons: Ali Wong, ”, Wong, “, ” Wong, “ I’m, I’m, Toto, Don Wong, It’s, sneer, Wong’s, Bill Hader Locations: L.A, Wong’s, Japanese American, “

The Rio Tinto Ltd. booth on the opening day of the Investing in African Mining Indaba in Cape Town, South Africa, on Monday, Feb. 6, 2023. The world's second-largest miner Rio Tinto said Wednesday it will acquire U.S. lithium producer Arcadium for $6.7 billion. Rio Tinto said the deal would be an all-cash transaction for $5.85 per share, representing a premium of 90% to Arcadium's Oct. 4 closing price of $3.08 per share. If the deal goes through, Rio Tinto will become one of the largest suppliers of lithium, trailing only after Albemarle and SQM. Rio Tinto CEO Jakob Stausholm said the purchase is a "significant step forward in Rio Tinto's long-term strategy, creating a world-class lithium business alongside our leading aluminium and copper operations to supply materials needed for the energy transition."

Persons: Rio, Arcadium, Rio Tinto, Jakob Stausholm Organizations: Rio Tinto Ltd, Rio Tinto, Rio Locations: Cape Town , South Africa, Rio, Rio Tinto's London, Albemarle, SQM, Rio Tinto's

☆ Here are Wednesday's biggest analyst calls: Nvidia, Apple, Netflix, FedEx, Reddit, Broadcom, Chewy & more
▼ + stars: | 2024-10-09 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Here are Wednesday's biggest calls on Wall Street: Citi initiates FedEx and UPS as buy Citi said in its initiation note that FedEx and UPS are well positioned. "Netflix remains a compelling growth story with significant room for revenue, earnings, and FCF growth over the next several years." Wells Fargo upgrades Valero to overweight from equal weight Wells said the company is one of the "best independent refiners." Mizuho reiterates Nvidia and Broadcom as outperform Mizuho said it's sticking with its outperform ratings on Nvidia and Broadcom. Wells Fargo reiterates Roblox as overweight Wells Fargo raised its price target on Roblox ahead of earnings in late October to $54 per share from $46.

Persons: underperform Jefferies, Guggenheim, TD Cowen, Cowen, Morgan Stanley, it's bullish, Piper Sandler downgrades Blackstone, Piper, Piper Sandler, Wells, Jefferies, Wolfe, VALE, Chewy, it's, Mizuho, Wells Fargo, Evercore Organizations: Citi, FedEx, UPS, Jefferies, Southwest, Deutsche Bank, Netflix, Deutsche, Inc, MetLife, Barclays, Apple, Apple Intelligence, New York Times, Industry, Nvidia, Broadcom, Mizuho, Lowe's Locations: Valero, underperform, Underperform

☆ Peru has attracted a slew of foreign investors into its credit market. Here's why
▼ + stars: | 2024-10-08 | by ( Hakyung Kim | In Hakyungkim | ) www.cnbc.com time to read: +5 min

Foreign investors now hold 39% of Peru's sovereign bond market holdings, the highest level across all emerging market countries. This underscores the increasingly positive sentiment surrounding the Peru's fixed income outlook. "It has recognized the need to provide international investors positive returns on domestic assets, and for central banks to be aligned with international investors and provide positive returns on domestic assets." "In some sense, the lack of a strong executive has led to better fixed income outcomes," Austerweil added. Dhawan also underscored that Peruvian fixed income is a high quality market for foreign investors.

Persons: Moody's, Dina Boluarte's, Pramol Dhawan, Pimco, Dhawan, David Austerweil, Soberano, Austerweil Organizations: Southern Copper Corp, Lawmakers, Peruvian, International Monetary Fund, Central Reserve Bank of, Bank of America, Mining Locations: Peru, Sol, Central Reserve Bank of Peru, America, U.S, Peruvian, China

☆ Luxury stocks are on the slide again as China's stimulus plans disappoint
▼ + stars: | 2024-10-08 | by ( Nora Redmond | ) www.businessinsider.com time to read: +2 min

European stocks took a hit as China's stock rally lost momentum. A lack of new stimulus details from China has affected the luxury sector. AdvertisementEuropean stocks took a hit on Tuesday as China's stock rally cooled following a lack of much-awaited details about how the government plans to support economic growth in the country. Investors were expecting the National Development and Reform Commission, China's top economic planner, to provide fresh information regarding stimulus plans at a press conference on Tuesday. Luxury brands have seen sales suffer in China in recent months amid the country's economic slowdown.

Persons: —, Louis Vuitton, Christian Dior, Gucci, Burberry, Kering, Marc Jacobs Organizations: Service, Investors, National Development, Reform Commission, Louis, Burberry Locations: China, LVMH, Asia, Japan, Pacific

☆ Goldman Sachs upgrades China stocks, sees as much as 18% upside from here
▼ + stars: | 2024-10-07 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

The recent stimulus-triggered rally in Chinese stocks could have legs, said Goldman Sachs, whose strategists upgraded the regional equities and projected high double-digit returns. The Wall Street firm hiked its rating on Chinese stocks to overweight from equal weight and raised its 12-month price target on the MSCI China index to 84, implying an upside between 15% to 18%. The announcement prompted massive buying from hedge funds, who piled into beaten-down Chinese stocks like never before. the long-awaited "Beijing put" has been triggered," Goldman strategists said in a note to clients. The iShares MSCI China ETF climbed another 2.7% on Monday, jumping more than 30% from its mid-September low and pushing the fund's 2024 return to more than 40%.

Persons: Goldman Sachs, Goldman, bullish, —, Michael Bloom Locations: China, Beijing

☆ Mining giant Rio Tinto in talks to buy U.S. lithium producer Arcadium
▼ + stars: | 2024-10-07 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +1 min

This is a photograph of a Rio Tinto mining helmet taken on 2 Jun. The world's second-largest miner Rio Tinto expressed interest in acquiring U.S. lithium producer Arcadium, the two companies confirmed in separate statements on Monday. Rio Tinto said that there is no certainty that any transaction will be agreed to. If the deal goes through, Rio Tinto would become one of the largest suppliers of lithium, trailing only Albemarle and SQM. "Ultimately, Rio Tinto only wanted to play in the lithium space if they were going to be a top 3 producer," he told CNBC via email.

Persons: Rio, Arcadium, Saul Kavonic Organizations: Rio Tinto, CNBC Locations: Rio Tinto, Rio, Albemarle, SQM

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