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☆ Monetary policy tightening works through banking channels, not just financial markets, says Citi's Wieting
▼ + stars: | 2023-03-16 | 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 EmailMonetary policy tightening works through banking channels, not just financial markets, says Citi's WietingBruce Kasman, chief economist at JPMorgan; Steven Wieting, chief investment strategist at Citi Global Wealth Investments; and Margaret Patel, senior portfolio manager at Allspring Global Investments, join 'The Exchange' to discuss global market action, consequences of the Fed's aggressive rate approach and anticipated changes to lending policies.

☆ In COVID China, a hospital bed can hinge on who you know, red packets
▼ + stars: | 2023-02-14 | by ( Engen Tham | ) www.reuters.com time to read: +6 min

After hours of frantic calls, Steven was taken to a packed hospital and given oxygen and a bed in a children’s ward. If you know the head of the hospital, then there won’t be trouble getting a bed," a Shanghai doctor said. Although China has tried to crack down on doctor bribery, the regulatory focus has been on payments from pharmaceutical companies rather than patients. Doctors and experts said the use of red packets and "guanxi", or connections, to gain access persists. "Many of those rural patients, COVID patients, that had severe symptoms would choose not to proactively seek care; instead they just die at home," Huang said.

☆ Wieting: The underlying situation for labor demand is weakening
▼ + stars: | 2023-02-03 | 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 EmailWieting: The underlying situation for labor demand is weakeningCiti Global Wealth's Steven Wieting discusses how recent data shows signs the Fed's aggressive monetary policy is hitting home.

☆ 10-year Treasury yield falls ahead of Fed's rate hikes
▼ + stars: | 2023-02-01 | 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 Email10-year Treasury yield falls ahead of Fed's rate hikesSteven Wieting, chief investment strategist at Citi Global Wealth Management Investments, Kathy Bostjancic, chief economist at Nationwide Mutual, and Subadra Rajappa, head of US rates strategy at Societe Generale, join 'The Exchange' to discuss the JOLTS report and more.

☆ Watch CNBC's full interview with Steven Wieting, Kathy Bostjancic and Subadra Rajappa
▼ + stars: | 2023-02-01 | 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 EmailWatch CNBC's full interview with Steven Wieting, Kathy Bostjancic and Subadra RajappaSteven Wieting, chief investment strategist at Citi Global Wealth Management Investments, Kathy Bostjancic, chief economist at Nationwide Mutual, and Subadra Rajappa, head of US rates strategy at Societe Generale, join 'The Exchange' to discuss the JOLTS report and more.

☆ As Tesla ignites an EV price war, suppliers brace for Musk seeking givebacks
▼ + stars: | 2023-02-01 | by ( Hyunjoo Jin | ) www.reuters.com time to read: +5 min

"It is never good for suppliers when (automakers) cut vehicle prices because that pressure rolls downhill," said Dan Sharkey, an attorney who represents suppliers to Tesla and other automakers. Tesla's cost-reduction efforts come after it aggressively cut vehicle prices last month, prompting U.S. rival Ford Motor Co (F.N) to follow suit. More price cuts could be painful in a sector where some suppliers are already struggling, industry officials said. Tesla could negotiate cost reductions with suppliers through "shared" efficiencies or by simply twisting the suppliers' arms and taking some of their profit away, a former Tesla executive told Reuters. "They will get a lot of pushback from suppliers to cut costs," said industry consultant Laurie Harbour, who works with suppliers.

☆ These stocks have been hit the hardest by Fed rate hikes — now they could rally if there's a pause
▼ + stars: | 2023-01-31 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

To find such names, CNBC Pro looked back at the stocks that were hit the hardest in the five trading days after each of last year's Fed rate hikes, starting with the first quarter point increase last March. Of those, we took the worst median performance within that five-day period for each of 2022's seven rate hikes. Warner Bros Discovery tops the list, losing a median 10.7% after the Fed rate hikes (bearing in mind the present company was put together in early April last year.) Chipotle Mexican Grill was also hit in the wake the Fed's rate increases, losing a median 6.9% overall. Overall, the electrical vehicle leader lost a median 6.8% in the week following last year's Fed rate hikes.

☆ Asteroid's sudden flyby shows blind spot in planetary threat detection
▼ + stars: | 2023-01-29 | by ( Joey Roulette | ) www.reuters.com time to read: +4 min

NASA for years has prioritized detecting asteroids much bigger and more existentially threatening than 2023 BU, the small space rock that streaked by 2,200 miles from the Earth's surface, closer than some satellites. If bound for Earth, it would have been pulverized in the atmosphere, with only small fragments possibly reaching land. But 2023 BU sits on the smaller end of a size group, asteroids 5-to-50 meters in diameter, that also includes those as big as an Olympic swimming pool. But with current capabilities, astronomers can't see when such a rock targets Earth until days prior. The successful demonstration, called the Double Asteroid Redirection Test (DART), affirmed for the first time a method of planetary defense.

☆ The case for investing in China's reopening is strong. Here's how to proceed with caution
▼ + stars: | 2023-01-19 | by ( Patti Domm | In | ) www.cnbc.com time to read: +11 min

Strategists see China's markets easily scoring double-digit gains this year. The case for investing outside the U.S. is strong, particularly with the dollar coming off its highs and looking at further downside. "While China's reopening is undoubtedly a turning point, there remain reasons to be cautious," wrote Barclays equity strategists. But still the prospects for China's economy are much brighter than they were just several months ago. The Covid lockdown has been so damaging to the Chinese economy, they want to get back to a growth path in 2023."

Bonds also rose, mirroring hopes of a softer inflation report, and the U.S. dollar was near seven-month lows against a basket of currencies. Europe's STOXX 600 (.STOXX) equity benchmark index rose 0.6% to its highest since April 2022. Roberto Lottici, portfolio manager at Banca Ifigest, said he was concerned markets could potentially even react negatively to any big downside surprise in the U.S. CPI data. Foreign exchange markets elsewhere were quieter ahead of the U.S. CPI data while China's reopening kept a bid under Asia's currencies. The dollar index eased 0.1% to 103.06, not far from a seven-month low of 102.93 hit this week.

☆ Stocks becalmed before potential CPI storm
▼ + stars: | 2023-01-12 | by ( Tom Westbrook | ) www.reuters.com time to read: +4 min

European futures rose 0.4%. Bonds held overnight gains and the U.S. dollar was pinned near a seven-month low at $1.0769 per euro . "(It) is the CPI number that could help settle the debate for the February meeting," said NatWest Markets' U.S. rates strategist Jan Nevruzi. U.S. Treasuries added a little to overnight gains, with benchmark 10-year yields down 3.7 bps to 3.5189% and 30-year yields down 4.4 bps to 3.6375%. Foreign exchange markets were elsewhere holding their breath ahead of CPI data while China's reopening kept a bid under Asia's currencies.

☆ Asia stocks hit 7-month high on China and CPI bets
▼ + stars: | 2023-01-12 | by ( Tom Westbrook | ) www.reuters.com time to read: +4 min

Following gains for Wall Street indexes overnight, MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) rose 0.5% and touched an almost seven-month high. Bonds were bought around the world overnight and the U.S. dollar wavered, to touch a seven-month low at $1.0776 per euro . "(It) is the CPI number that could help settle the debate for the February meeting," said NatWest Markets' U.S. rates strategist Jan Nevruzi. "We expect a below consensus CPI print, which if it materialises, could push this rally even further." Foreign exchange markets were elsewhere holding their breath ahead of CPI data while China's reopening kept a bid under Asia's currencies.

☆ 'An expensive mistake': Citi says stop hoarding cash — and reveals two areas to invest in
▼ + stars: | 2023-01-11 | by ( Zavier Ong | ) www.cnbc.com time to read: +3 min

Last year was a tough one for stock and bond investors, many of whom flocked to the relative safety of cash amid the market turmoil. But Citi is now warning of the perils of hoarding cash. "Amid the uncertainty, we see various ways to put cash to work and seek portfolio income. Citi warned that hoarding excess cash could "prove an expensive mistake over time" and instead advised investors to have "fully invested, globally diversified portfolios" for the long term. Dividend growers One way to deploy excess cash is in dividend stocks , according to Citi.

☆ The U.S. economy could recover in 2024, Citi says
▼ + stars: | 2023-01-10 | 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 EmailThe U.S. economy could recover in 2024, Citi saysSteven Wieting of Citi Global Wealth Investments says a recession "can be short and shallow."

☆ 2023 will be the worst year for the global economy in 4 decades, Citi predicts. Here's how investors can protect their money and position for a rally later on.
▼ + stars: | 2022-12-09 | by ( Marley Jay | Lisa Kailai Han | ) www.businessinsider.com time to read: +4 min

Citi Global Wealth CIO, David Bailin CitiCiti Global Wealth says investors should be cautious ahead of an oncoming US recession. The firm says 2023 will be the weakest year for global economic growth in four decades. "It's highly unlikely that we've seen the lows" in stocks, Bailin said. Overall, Citi thinks that 2023 will be the worst year for the global economy in four decades. But Bailin emphasizes that investors shouldn't sell and go to cash because they'll cost themselves money in that eventual recovery.

☆ Meme stock mania may finally be over
▼ + stars: | 2022-12-06 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +4 min

Meme stocks, that is. Shares of movie theater chain AMC (AMC) have plummeted 55% this year. But investors may also be realizing that companies like GameStop, AMC and Bed Bath & Beyond face legitimate challenges. But mostly, investors are aware of the fact that in uncertain times like this, it may make more sense to play it safe instead of taking a huge gamble on a meme stock. Add all that up and it’s a miserable time for investors to be considering speculative meme stocks.

“I was just so thirsty to get a BBL,” Velasco said. 7Q Spa also has positive reviews on Yelp and Google, where it averages a 4.5 star rating. The front door of 7Q Spa is side-by-side with Vitality Medical Center, which, according to California business registration documents, has the same CEO as 7Q Spa. After the surgery, Velasco said she felt great and, at first, she couldn’t feel her stitches at all. The California Medical Board revoked her license as part of the settlement, but stayed the revocation and granted her a 35-month probation.

☆ Tesla delivers its first electric Semi trucks promising 500 miles of range
▼ + stars: | 2022-12-01 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +3 min

The Tesla Semi was first shown as a prototype in 2017. The fully electric semi truck features an unusual design in which the driver sits in the center of the cab rather than on one side. Tesla has boasted of the truck’s performance — saying it accelerates much more quickly, even with a full load, than traditional diesel-powered semi trucks. A video during the presentation showed, according to Tesla, a fully loaded Tesla Semi accelerating up a steep grade and passing other trucks. Since it has no multi-geared transmission, as diesel trucks do, it’s also much easier to drive than other semi trucks, Musk said.

☆ ‘Living in despair and hopelessness’: A lack of affordable housing can put people’s health at risk
▼ + stars: | 2022-11-30 | by ( Renuka Rayasam Fred Clasen-Kelly Kaiser Health News | Renuka Rayasam | Fred Clasen-Kelly | ) edition.cnn.com time to read: +11 min

She suspected the gray and brown splotches spreading through the apartment were mold and had caused her son’s illness. A nationwide affordable housing crisis has wreaked havoc on the lives of low-income families, like Joseph’s, who are close to the brink. Housing instability — such as having trouble paying rent, living in crowded conditions, or moving frequently — can have negative consequences on health, according to the federal Office of Disease Prevention and Health Promotion. And there is no county in the country where a minimum-wage worker could afford a two-bedroom rental home, according to an August report from the National Low Income Housing Coalition. A few months after leaving the apartment, Joseph and her two children moved in with her sister in Orlando, Florida, with their remaining possessions — a car and some clothes.

☆ ‘The Fabelmans’ Review: Memories Light Up Spielberg’s Lens
▼ + stars: | 2022-11-11 | by ( Kyle Smith | ) www.wsj.com time to read: +2 min

As recalled in the deeply felt and finely etched memoir-movie “The Fabelmans,” Steven Spielberg grew up in a family where one parent was an artist and the other an engineer. A more ideal background can scarcely be imagined for a film director, who must navigate overlapping creative and technical challenges on every project. His parents even provided young Steven with narrative sustenance: an appropriately cinematic family mystery that took him many years to understand and that has given much texture to his work. Like the best memoirs, “The Fabelmans,” which Mr. Spielberg co-wrote with his longtime collaborator Tony Kushner , drills down into experience with admirable specificity and frankness. Through Sammy’s eyes, we understand, as children do, that when something has always been the same way, it barely attracts attention.

Democrat Francis Conole is running against Republican Brandon Williams in New York's 22nd Congressional District. The old 22nd District represented by GOP Rep. Claudia Tenney was eliminated after redistricting. 2022 General EmbedsNew York's 22nd Congressional District candidatesConole is an Iraq War veteran and commander in the Navy Reserve. Voting history for New York's 22nd Congressional DistrictNew York's 22nd Congressional District covers large rural swaths of Central New York and includes the city of Syracuse. The new 22nd District is now a Democratic-leaning swing district.

☆ As much as we want to be optimistic, we're still in the bear market, says Katerina Simonetti
▼ + stars: | 2022-11-07 | 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 EmailAs much as we want to be optimistic, we're still in the bear market, says Katerina SimonettiCiti Global Wealth Management's Steven Wieting and Morgan Stanley Private Wealth Managment's Katerina Simonetti join 'Squawk on the Street' to discuss the bear market technical rally off earnings, the time horizon for recovery, and calls for a bottom in the first half of next year.

☆ Cast, creators reveal how Steven Spielberg's life shaped 'The Fabelmans'
▼ + stars: | 2022-11-07 | by ( Danielle Broadway | ) www.reuters.com time to read: +2 min

[1/2] Director Steven Spielberg, cast members Michelle Williams, Paul Dano, Mateo Zoryon Francis-DeFord, Gabriel LaBelle, Seth Rogen and Chloe East attend a premiere for the film "The Fabelmans" during the AFI Fest in Los Angeles, California, U.S., November 6, 2022. "The Fabelmans" is co-written and produced by Tony Kushner and stars Gabriel LaBelle, Michelle Williams, Paul Dano, Seth Rogen, Oakes Fegley and others. That said, he felt that not being a part of Spielberg’s family allowed him to use his tools as a writer to ensure the movie was both true to Spielberg’s life as well as many families from various walks of life. The complexity of Sammy's family, which mirrors Spielberg's real life, is a key focus of the movie. "The Fabelmans" is set to arrive in U.S. movie theaters on November 11, following its world premiere at the Toronto International Film Festival in September.

☆ Conservative policies linked to higher mortality, except regarding marijuana
▼ + stars: | 2022-10-27 | by ( Aria Bendix | Aria Bendix Is The Breaking Health Reporter For Nbc News Digital. | ) www.nbcnews.com time to read: +6 min

Conservative state policies regarding the environment, gun safety, labor, taxes and tobacco have been associated with higher mortality rates among working-age people relative to liberal policies, new research found. Conservative policies did the opposite. The link between liberal marijuana policies — such as legalization and access to medical cannabis — and higher mortality was also unexpected, Montez said. By contrast, if all had adopted the most conservative policies, nearly 218,000 more working-age people might have died. Warraich's own research has shown that death rates in counties that voted for Democrats in presidential elections fell 22% between 2001 and 2019, while death rates in Republican-voting counties declined by just 11%.

☆ Trial abandoned in high profile Australian Parliament rape trial over juror misconduct
▼ + stars: | 2022-10-27 | by ( Associated Press | ) www.nbcnews.com time to read: +4 min

“I have received evidence that at least one juror has had access to research material that was not provided to the jury during the trial,” McCallum said. “It is beyond question the conduct of a juror is such to abort the trial,” she added. The jury was supposed to reach its verdict solely on the evidence presented during the 12-day trial. Speak up against rape, speak up against injustice, to speak up and share my experiences with others. I told the truth no matter how uncomfortable or unflattering to the court,” a tearful Higgins told reporters outside court.

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