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☆ Stocks making the biggest moves midday: Apple, Meta Platforms, Carnival, Nike and more
▼ + stars: | 2023-06-30 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

In this photo illustration, the 2023 Apple Worldwide Developers Conference (WWDC 23) logo is displayed on a smartphone screen. Check out the companies making headlines in midday trading Friday. Citi also slapped a $240 price target on the stock, the highest on the Street. SolarEdge — The solar stock rose 3.3% after Bank of America raised its price target to $396 from $379. Bright Health Group — Shares added 2.6% in midday trading after the health insurer announced a deal to sell its California Medicare Advantage business to Molina Healthcare for roughly $600 million.

Persons: Goldman Sachs, Xpeng, —, Alex Harring, Tanaya Macheel, Sarah Min Organizations: Developers, Apple —, Citi, Journal, SEC, BlackRock, Pacific Biosciences, Bank of America, Bright Health, Molina Healthcare, Nike —, Nike, Markets Authority, Jefferies Locations: Thursday's, California

☆ South Korea shoppers buy up salt before Japan's Fukushima water dump
▼ + stars: | 2023-06-29 | by ( Hyun Young Yi | ) www.reuters.com time to read: +3 min

[1/5] Lee Young-Min and her children pose for photographs during an interview with Reuters in Seongnam, South Korea, June 28, 2023. The release of the water from huge storage tanks into the Pacific is expected soon though no date has been set. The rush to stock up contributed to a nearly 27% rise in the price of salt in South Korea in June from two months ago, though officials say the weather and lower production were also to blame. South Korean fisheries authorities say they will keep a close eye on salt farms for any rise in radioactivity. South Korea has banned seafood from the waters near Fukushima, on Japan's east coast.

Persons: Lee Young, Min, Kim SEOUL, Song Sang, keun, Japan's, Hirokazu Matsuno, Kim Myung, Hyun Young Yi, Jack Kim, Robert Birsel Organizations: Reuters, REUTERS, Fisheries, ., Thomson Locations: Seongnam, South Korea, Japan, Tokyo, Seoul, Korea, Fukushima, Japan's, China

☆ Stocks making the biggest moves midday: Occidental Petroleum, Wells Fargo, Micron, Joby and more
▼ + stars: | 2023-06-29 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Analyst Adam Jonas's $13 price target implies more than 70% upside from Wednesday's close for the stock. Wells Fargo climbed 3.4% while JPMorgan and Bank of America added more than 2% each. Tenaris — The pipe manufacturer rose 2.4% after Jefferies initiated coverage of the stock at a buy, citing a compelling risk-reward ratio. Occidental Petroleum - Shares of the oil giant rose nearly 1% after Warren Buffett's Berkshire Hathaway once again increased its stake. Sigilon Therapeutics — Shares soared more than 500% on news that pharmaceutical company Eli Lilly would purchase Sigilon for as much as $126.56 per share.

Persons: Freyr — Freyr Battery, Morgan Stanley, Adam Jonas's, Wells, Jefferies, Warren Buffett's Berkshire Hathaway, Eli Lilly, — CNBC's Michelle Fox, Alex Harring, Sarah Min, Yun Li Organizations: JPMorgan Chase, Bank of America —, JPMorgan, Bank of America, Micron Technology, Micron, Occidental Petroleum, Occidental, Joby, SK Telecom, Sigilon Therapeutics, Therapeutics, Food and Drug Administration Locations: Salt Lake City , Utah, Wells Fargo, China, Occidental, Houston

☆ Stocks making the biggest premarket moves: Joby, Micron, Wells Fargo, Freyr Battery and more
▼ + stars: | 2023-06-29 | by ( Michelle Fox | ) www.cnbc.com time to read: +2 min

Check out the companies making the biggest moves in premarket trading. Joby Aviation — Joby shares gained another 17% premarket. The aviation company announced a $100 million equity investment from South Korea's SK Telecom, expanding an existing partnership. Wells Fargo , JPMorgan Chase , Bank of America — The banks moved higher after passing the Federal Reserve's annual stress test Wednesday. Wells Fargo and Bank of America gained nearly 2%, while JPMorgan rose 1.6%.

Persons: Wells, Charles Schwab —, Morgan Stanley, Adam Jonas, Berkshire Hathaway, Overstock, Richard, —, Macheel, Jesse Pound, Sarah Min, Michael Bloom, Brian Evans Organizations: Aviation, New York Stock Exchange, Joby, South Korea's SK Telecom, Micron Technology, Micron, JPMorgan Chase, Bank of America, Federal, JPMorgan, Citizens, Providence, Occidental Petroleum —, Petroleum, Berkshire, Warren Buffett, Virgin Galactic —, Virgin Galactic Locations: New York, South, Wells Fargo, Providence , Rhode Island, Wednesday's, Virgin

CNN —Ma Khin Hla and her five siblings didn’t have time to run when a fighter jet buzzed over their village in Myanmar’s central Sagaing region. We didn’t get to run as it immediately dropped bombs.”When she opened her eyes after the strike on Tuesday, Ma Khin Hla said she saw her siblings’ bodies scattered around her. A monastery hit by the junta airstrike in Pale township, Sagaing region, Myanmar. CNN reached out to junta spokesperson Maj. Gen. Zaw Min Tun for comment on the airstrike but did not receive a response. Ma Khin Hla, whose five siblings were killed, said she has been forced to take shelter with relatives in another village.

Persons: Khin Hla, didn’t, ”, Ma Khin Hla, Zaw Htet, ” Zaw Htet, Min Aung Hlaing, “, Zaw Min Tun, Ar Lu Organizations: CNN, Facebook, Administration, Peoples Defense Forces, National Unity Government, SAC, United Locations: Myanmar’s, Sagaing, Nyaung Kone, Pale, Myanmar, Zaw, “, United Nations, Russia, China, Singapore

☆ Credit Suisse appoints investment banking management committee -memo
▼ + stars: | 2023-06-29 | by ( Tatiana Bautzer | ) www.reuters.com time to read: +1 min

NEW YORK, June 29 (Reuters) - Credit Suisse Group AG on Thursday appointed an investment banking management committee to oversee its integration with UBS Group AG (UBSG.S), according to a memo seen by Reuters. UBS completed its emergency takeover of embattled rival Credit Suisse in June, forging a Swiss banking and wealth management giant with a $1.6 trillion balance sheet and overseeing more than $5 trillion in assets. Michael Ebert, head of Credit Suisse for the investment bank, will lead markets within the committee. Onu Odim will oversee investment banking risk management and the chief operating officers for markets and capital markets will be Olivier Charhon and Amy Clack, respectively. The committee will be supported by other executives such as investment banking CFO Tony Bullman and Chief Risk Officer David Krauss.

Persons: Michael Ebert, Marc, Michael Furber, Tan, Onu Odim, Olivier Charhon, Amy Clack, Tony Bullman, David Krauss, Tatiana Bautzer, Chris Reese, Mark Porter Organizations: YORK, Credit Suisse Group AG, UBS Group AG, Reuters, UBS, Credit Suisse, Capital, Kuan, Thomson Locations: Americas, APAC, Asia

The announcement did not name Choi and gave only limited details, although some media subsequently identified Choi and his links with Foxconn. The unreleased 18-page indictment, reviewed by Reuters, provides details in the case against Choi, including how he is alleged to have stolen Samsung's trade secrets and details about the planned Foxconn plant. Choi's Singapore-based consultancy Jin Semiconductor won the contract with Foxconn around August 2018, according to the indictment. According to the indictment, the new Foxconn plant had planned capacity of 100,000 wafers per month using 20-nanometre DRAM memory chip technology. However, Foxconn ended the contract just a year later and only paid salaries related to the project, the lawyer said.

Persons: Kim Hong, Choi Jinseog, Taiwan's Foxconn, Choi, Kim Pilsung, Cho Young, sik, Samoo, Choi's, Chung Chan, Kim, Foxconn, Cho, HanmiGlobal, Chung, Lee Jong, Lee, Jin Semiconductor's, Yoon Suk, 1,294.4600, Heekyong Yang, Ben Blanchard, Chen Lin, Josh Ye, Miyoung Kim, Lincoln Organizations: Samsung Electronics, REUTERS, Samsung, South, Prosecutors, Reuters, Jin Semiconductor, Foxconn, Samoo Architects & Engineers, Google, SK Hynix, Samsung's, Sangmyung University, Hai Precision Industry Co Ltd, South Korean, Thomson Locations: Suwon, South Korea, SEOUL, China, Choi's Singapore, Xian , China, HanmiGlobal, South, CHINA, United States, Taipei, Singapore, Hong Kong

☆ S&P 500 futures inch lower after Tuesday's tech-fueled rally: Live updates
▼ + stars: | 2023-06-27 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

U.S. S&P 500 futures inched lower on Tuesday night. S&P 500 futures and Nasdaq 100 futures dipped 0.16% and 0.37%, respectively. Meanwhile, the S&P 500 and the Nasdaq Composite jumped more than 1% each, buoyed by a resurgence in tech stocks after last week's selloff. Federal Reserve Chairman Jerome Powell speaks Wednesday morning before a policy panel at the European Central Bank Forum on Central Banking in Sintra, Portugal. Powell will be joined by Bank of England Governor Andrew Bailey, European Central Bank President Christine Lagarde and Bank of Japan Governor Kazuo Ueda.

Persons: selloff, Jeff deGraaf, deGraaf, Jerome Powell, CNBC's Sara Eisen, Powell, Andrew Bailey, Christine Lagarde, Kazuo Ueda, Jeff Cox Organizations: New York Stock Exchange, Nasdaq, Dow Jones Industrial, Dow Jones, Investors, Macro, Federal, European Central Bank, Central Banking, Bank of England, Bank of Japan Locations: New York City ., Sintra , Portugal

☆ Baupost Group's Seth Klarman found the next 'hunting ground' for value investors
▼ + stars: | 2023-06-27 | by ( Sarah Min | ) www.cnbc.com time to read: +1 min

Baupost Group's Seth Klarman called real estate a "hunting ground" for investors searching for opportunities. "There are hunting grounds that one would want to look," the press-shy Klarman told CNBC's "Squawk Box" in an exclusive interview Tuesday morning. "We think real estate is an area that is full of so many fundamental challenges. The S & P 500 sector is down nearly 1%, even as the broader index is 12% higher. Last year, the billionaire investor posted a mid-single-digit decline, outperforming the S & P 500's double-digit retreat, according to a Financial Times report .

Persons: Baupost, Seth Klarman, Klarman, CNBC's, Warren Buffett Organizations: Investors, Harvard, Cornell, Financial

☆ Stocks making the biggest premarket moves: Walgreens, Kellogg, Eli Lilly, Delta and more
▼ + stars: | 2023-06-27 | by ( Michelle Fox | ) www.cnbc.com time to read: +2 min

It also reported adjusted earnings per share for its fiscal third quarter of $1, missing a Refinitiv forecast of $1.07. Kellogg — Shares added 2.5% in premarket trading after an upgrade from Goldman Sachs to buy. Delta Air Lines — The travel stock added about 1% in premarket trading after Delta forecast full-year adjusted earnings of $6 per share, at the high end of previous guidance. American Equity Investment Life — The stock jumped 15% in premarket trading after Bloomberg reported Canadian investment firm Brookfield was close to making a deal to buy the insurance firm for approximately $4.3 billion. The Wall Street firm said it expects deteriorating trends in key markets and higher competitive supply versus its peer group.

Persons: Kellogg —, Goldman Sachs, Kellogg, Taiwan's Foxconn, Eli Lilly —, Eli Lilly, retatrutide, Morgan Stanley, —, Sarah Min, Brian Evans, Jesse Pound, Michael Bloom Organizations: Walgreens, Alliance, Lordstown Motors, Motors, U.S, Delta Air Lines, Delta, Equity Investment, Bloomberg, Resorts Locations: New York City, Brookfield

☆ Goldman says these stocks will give the biggest returns while allowing you to sleep easier at night
▼ + stars: | 2023-06-26 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

Investors looking for big gains while also resting easy at night can look at these stocks, Goldman Sachs says. While the market rally stalled somewhat last week, the Nasdaq Composite remains higher by 28% in 2023, while the S & P 500 has notched a 13% gain. Still, investors seeking to ready their portfolios for further volatility ahead could search for risk-adjusted returns using the Sharpe ratio. In other words, Goldman proposes these stocks will give the biggest returns while allowing you to sleep easier at night. Goldman Sachs revisited its High Sharpe Ratio basket, adding 39 new stocks, and retaining 11 holdings.

Persons: Goldman Sachs, Wall, Sharpe, Goldman, David Kostin, Michael Bloom Organizations: Nasdaq, Dow Jones, Newell Brands, Disney, Capital, Cisco, Bank of America

☆ Stocks making the biggest moves midday: Pfizer, Lucid, WSFS Financial and more
▼ + stars: | 2023-06-26 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

Lucid Group — Lucid shares jumped 9% after the electric vehicle maker said it will provide powertrain and battery systems to British luxury automaker Aston Martin. Davidson upgraded the stock to buy from neutral, noting WSFS could benefit from a higher-for-longer interest rate environment. UBS upgraded the pharmaceutical stock to buy from neutral, saying the potential for other vaccines for the company isn't fully appreciated by investors. Alphabet — Shares of Alphabet fell 1.8% after UBS downgraded the tech giant to neutral from buy. Tesla — The electric vehicle maker dropped 2.8% after Goldman Sachs downgraded Tesla to neutral from buy.

Persons: Aston, Davidson, WSFS, Tesla, Goldman Sachs, Morgan Stanley, — CNBC's Michelle Fox, Alex Harring, Jesse Pound Organizations: Aston Martin, D.A, Regional Banking, Pfizer, Cruise, Moderna — Moderna, UBS, Barclays Locations: Royal Caribbean

☆ Saudi Arabia: What is the nation hoping to achieve amid transfer takeover and what happens next?
▼ + stars: | 2023-06-25 | by ( Kaveh Solhekol | ) www.cnbc.com time to read: +6 min

Sky Sports News chief reporter Kaveh Solhekol analyses this transfer market trend... Why are Saudi Arabia spending huge sums on foreign players all of a sudden? Saudi Arabia is looking to expand its economy through other industries in order to help guarantee its financial future. It wants to put Saudi Arabia on the map and raise its profile. What else is Saudi Arabia hoping to achieve? Has Saudi Arabia distorted the transfer market forever?

Persons: Cristiano Ronaldo, Mohammed Saad, Ballon, Karim Benzema, Sergio Ramos, Bernardo Silva, Heung, Min Son, Kaveh, Mason Mount Chelsea, Declan Rice, Saudi Arabia —, sportswashing, Jamal Khashoggi, Oscar, West Ham's Marko Arnautovic, Lionel Messi, Ruben Neves, Kalidou Koulibaly, Hakim Ziyech, Erling Haaland, Harry Kane, Mohammed Hamdi, It's, Son Organizations: Saudi Pro League, Al, Alawwal, Anadolu Agency, Getty Images, Real, Chelsea, Premier League, Sky Sports News, Sky Sports, Manchester United, Arsenal, Soccer, Qatar, eventual, Argentina, Amnesty, Rights, Rights Watch, United, Super League, Brazil, Communist Party, Chinese Super League, MLS, Al Jazira FC, Saudi, Tottenham, Spurs Locations: Al, Shabab, Riyadh, Saudi Arabia, Getty Images Saudi Arabia, Real Madrid, Bournemouth, Saudi, United Nations, Kingdom of Saudi Arabia, Greece, Egypt, China, Europe, Al Hilal, Al Jazira, Abu Dhabi, Qatar

The 2-year Treasury yield was trading at 4.75% after declining by 5basis points. U.S. Treasury yields fell Friday as investors digested remarks from Federal Reserve officials about the outlook for interest rates and the latest economic data. Investors digested comments that Fed speakers including Chairman Jerome Powell made throughout the week, which indicated that further interest rate hikes are on the horizon. Speaking before the Senate Banking Committee on Thursday, Powell suggested policymakers would continue using interest rate increases to bring down inflation. On Friday, further comments from Fed officials are expected, as is S&P Global's purchasing managers' index report for the services and manufacturing sectors.

Persons: Jerome Powell, Powell, Michelle Bowman, Investors Organizations: Treasury, U.S, Federal Reserve, Bank of England

☆ Market momentum wanes heading into the final week of June after monster rally in the first half
▼ + stars: | 2023-06-23 | by ( Sarah Min | ) www.cnbc.com time to read: +5 min

Against this backdrop, investors will head into the final week of June with a relatively light economic calendar. However, those few data sets could provide investors with clues on how the market will fare going into the second half. Key inflation data ahead Of note next week is the core personal consumption expenditures index, the Fed's preferred inflation gauge. Reports to watch out for include Tuesday's new home sales and Thursday's pending home sales data, both for May. Elsewhere, BTIG's Jonathan Krinsky warned this week the downside for tech names could be as "equally impressive" as their rally.

Persons: Jerome Powell, annualized, Dow Jones, Terry Sandven, Sandven, that's, Megan Horneman, Stephen Suttmeier, BTIG's Jonathan Krinsky, Art Hogan, Hogan, Mills, Paychex Organizations: Dow Jones, Nasdaq, Federal, Bank of England, Global Wealth Management, Americas, UBS, U.S, Bank Wealth Management, Verdence Capital Advisors, Bank of America, Dow, Riley Wealth Management, Fed, Walgreens, Micron, Nike, Constellation Brands

☆ Barry Diller Ends Talks to Sell The Daily Beast
▼ + stars: | 2023-06-23 | by ( Benjamin Mullin | ) www.nytimes.com time to read: 1 min

The media mogul Barry Diller has pulled The Daily Beast off the auction block. Mr. Diller, the chairman of the digital media company IAC, said on Friday that The Daily Beast — a digital tabloid known for its aggressive political and media coverage — is not for sale. Until recent days, according to people with knowledge of the talks, he had been in discussions about a deal with Ankler Media, a start-up that has earned a reputation for its unsparing coverage of Hollywood elites since Janice Min, a longtime magazine editor, co-founded it early last year. “We did have negotiations with The Ankler, but we have withdrawn from them,” Mr. Diller, 81, said in a statement. “The Daily Beast is not for sale.”He did not elaborate on his plans for The Daily Beast, a publication that the magazine editor Tina Brown first edited in 2008 and that has earned plaudits for its journalism.

Persons: Barry Diller, Diller, Janice Min, “, ” Mr, Tina Brown Organizations: IAC, Ankler Media, Daily

The yield on the 10-year Treasury was trading about 3 basis points higher at 3.752%. U.S. Treasury yields were slightly higher on Thursday as investors assessed what could be ahead for interest rates and digested remarks from Federal Reserve Chairman Jerome Powell. Investors considered the path ahead for Fed monetary policy after Powell said on Wednesday that further interest rate hikes are likely as inflation remains too high. Policymakers had decided to keep interest rates unchanged but noted that two 25 basis point increases are expected this year. Elsewhere, the Bank of England announced a surprise 50 basis point rate hike Thursday, which is its 13th increase in a row.

Persons: Jerome Powell, Powell Organizations: Treasury, U.S, Federal, Investors, Senate, Committee, Bank of England

☆ Argentina to make $1.9 bln payment to IMF as scheduled - econ min source
▼ + stars: | 2023-06-21 | by ( ) www.reuters.com time to read: +1 min

BUENOS AIRES, June 21 (Reuters) - Argentina will make scheduled payments totaling some $1.9 billion to the International Monetary Fund (IMF) on Wednesday, an economy ministry source said. Argentina has $2.7 billion due to the fund this month alone. The government hopes to bring forward over $10 billion in IMF disbursements this year, though has been reluctant to agree to tough austerity measures as the next general elections scheduled for October approach. Economy Minister Sergio Massa is set to travel to Washington once an agreement to ease economic targets is drafted with IMF officials. Reporting by Jorge Otaola and Walter Bianchi; Editing by Conor HumphriesOur Standards: The Thomson Reuters Trust Principles.

Persons: Sergio Massa, Jorge Otaola, Walter Bianchi, Conor Humphries Organizations: International Monetary Fund, IMF, Thomson Locations: BUENOS AIRES, Argentina, Washington

The yield on the 10-year Treasury rose by 2 basis points at 3.748%. The yield on the 2-year Treasury traded 1 basis point higher around 4.711%. U.S. Treasury yields were little changed Wednesday as investors looked ahead to Federal Reserve Chairman Jerome Powell's testimony before Congress and assessed the economic outlook. Two more increases of 25 basis points each are expected this year, according to the central bankers. Elsewhere, U.K. inflation figures came in higher than expected at 8.7% for May.

Persons: Jerome Powell's, Powell Organizations: Treasury, U.S, Federal, Financial, Investors, The, of England's

☆ Stocks making the biggest moves midday: Dollar Tree, Amazon, FedEx and more
▼ + stars: | 2023-06-21 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

People walk by a Dollar Tree store on December 11, 2018 in the Brooklyn borough of New York City. FedEx — The delivery company fell 1.7% after quarterly revenue missed expectations and announced CFO Mike Lenz would retire on July 31. Adjusted earnings were better than expected at $4.94 per share against the anticipated $4.89, while forward guidance was around flat. Advanced Micro Devices — Shares of the chipmaker pulled back nearly 5%, on track for their biggest intraday loss in two weeks. Dollar Tree — Shares of Dollar Tree popped more than 3% after the discount retailer reiterated its fiscal second-quarter 2023 earnings guidance.

Persons: Mike Lenz, MicroStrategy, Tesla, Rivian, Goldman, OneSpaWorld, Walt Disney, Needham, Laura Martin, Bob Iger, Raymond James, Uniqure, hemophilia, Yun Li, Michelle Fox, Jesse Pound, Sarah Min, Brian Evans Organizations: Federal Trade Commission, Amazon, FedEx, Securities and Exchange Commission, Barclays, GlaxoSmithKline —, Petrobras —, Walt Disney —, AMD Locations: Brooklyn, New York City, bitcoin, Netherlands

☆ U.S. to slap new sanctions on Myanmar state-owned banks - sources
▼ + stars: | 2023-06-21 | by ( ) www.reuters.com time to read: +3 min

The Thai reports, published on Tuesday, said Washington would announce new sanctions on Myanmar Foreign Trade Bank and Myanmar Investment and Commercial Bank as early as Wednesday. A spokesman for Myanmar's military junta said it was not worried about any new sanctions. Zaw Min Tun told the state media channel MWD on Tuesday evening that the country has experienced sanctions before and they will not face losses if there are new sanctions on Myanmar state-owned banks. He said the United States was "just doing this to cause difficulties in economics and politics". One of the Thai media reports, by Bangkok Business News, cited Thai sources as saying the sanctions would impact Thailand and other countries in the region financially because of connections with local banks.

Persons: Washington, Aung, Kyi, Min Tun, Critics, Prayuth Chan, Panu, Poppy McPherson, Kay Johnson, Raju Gopalakrishnan, Simon Cameron, Moore Organizations: United, Myanmar Foreign Trade Bank, Myanmar Investment, Commercial Bank, Reuters, Embassy, Bangkok Business, Thai, Thomson Locations: BANGKOK, United States, U.S, Thailand, States, Myanmar, Bangkok, Pattaya, ASEAN

☆ Yuan slides after China cuts lending benchmarks; Aussie down
▼ + stars: | 2023-06-20 | by ( Rae Wee | ) www.reuters.com time to read: +4 min

"Markets were expecting bigger support and were hoping for a larger LPR cut," said currency strategist Christopher Wong at OCBC. It's probably going to be more targeted," said currency strategist Moh Siong Sim at Bank of Singapore. "The minutes were interpreted by market participants as dovish," said currency strategist Carol Kong at Commonwealth Bank of Australia. The yen has come under renewed pressure amid rising interest rate differentials between Japan and other developed markets. Sterling edged 0.06% higher to $1.2798, ahead of British inflation data and the Bank of England's (BoE) interest rate decision later in the week.

Persons: Christopher Wong, Moh Siong Sim, Carol Kong, Min Joo Kang, BoE, Rodrigo Catril, Rae Wee, Christopher Cushing Organizations: Bank of Singapore, Reserve Bank of Australia's, Commonwealth Bank of Australia, New Zealand, Bank of Japan's, ING, South, Central Bank, Sterling, Bank of England's, National Australia Bank, Bank of England, U.S ., Thomson Locations: SINGAPORE, China, OCBC, Japan, South Korea

☆ Dollar buoyant; yuan wobbles after China cuts lending benchmarks
▼ + stars: | 2023-06-20 | by ( ) www.cnbc.com time to read: +3 min

The U.S. dollar rose broadly on Tuesday and notched a seven-month high against the yen, while the yuan slipped after China cut two benchmark lending interest rates for the first time in 10 months. The offshore yuan dipped slightly following the decision and was down more than 0.1% at 7.1734 per dollar, languishing near last week's roughly seven-month low. The yen has come under renewed pressure amid rising interest rate differentials between Japan and other developed markets globally. Sterling rose 0.05% to $1.2797, ahead of British inflation data and the Bank of England's interest rate decision later in the week. Against a basket of currencies, the U.S. dollar rose 0.03% to 102.51.

Persons: it's, Rodrigo Catril, Min Joo Kang, Sterling, BoE, NAB's Organizations: U.S, National Australia Bank, NAB, Bank of, ING, South, Reserve Bank of, New Zealand, Central Bank, Bank of England Locations: China, United States, Asia, Japan, South Korea

☆ Wyndham Clark wins 2023 US Open, clinching American’s first career major
▼ + stars: | 2023-06-18 | by ( Jack Bantock | ) edition.cnn.com time to read: +7 min

CNN —Wyndham Clark won the 2023 US Open to claim his first major title on Sunday, edging Rory McIlroy in a nail-biting finale at Los Angeles Country Club. Ross Kinnaird/Getty ImagesFor McIlroy, US Open champion in 2011, a nine year wait for a fifth major title continues. The 34-year-old has now finished inside the top-five at 10 major tournaments since winning The Open and PGA Championship in 2014. Ezra Shaw/Getty ImagesUnfortunately for Clark however, up ahead McIlroy was showing the sort of final round composure befitting of his glittering résumé. Heading into the week, McIlroy had twice as many major titles as Clark had made major cuts – yet the world No.

Persons: CNN — Wyndham Clark, Rory McIlroy, Clark, Lise Clark, Clark teared, “, ”, “ I’ve, There’s, Ross Kinnaird, McIlroy, ” McIlroy, Rickie Fowler, –, Clark –, Xander Schauffele, Sean M, Scottie Scheffler, Cameron Smith, Fowler, Min Woo Lee, Tommy Fleetwood, Matt Fitzpatrick, Brooks Koepka, Richard Heathcote, Ezra Shaw, birdieing, Viktor Hovland’s, Harry, McIlroy bogeyed, Clark steadied, caddie John Ellis Organizations: CNN, Los Angeles Country Club, PGA Tour, Northern, PGA, Fleetwood, Royal Liverpool Golf Club, Getty Locations: Denver, American

☆ The Japanese equity rally could broaden out. Some small- and mid-cap names may get a boost
▼ + stars: | 2023-06-17 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

Japanese stocks are rallying, and some small- and mid-cap names could start participating in those gains, some investors say. The iShares MSCI Japan ETF , which focuses on larger cap stocks in the market, is higher by 16% in 2023. Meanwhile, the iShares MSCI Japan Small-Cap ETF is up more than 7% over the same time period. SCJ YTD mountain iShares MSCI Japan Small-Cap ETF this year What's more, cyclical stocks are more heavily represented in small- and mid-cap Japanese equities than among large-caps. Another actively managed fund is the Hennessy Japan Small Cap Investor (HJPSX) .

Persons: haven't, Carlos Asilis, Glovista's Asilis, Hennessy, HJPSX, Morningstar Organizations: Nikkei, Japan ETF, Glovista Investments, Fidelity, Morningstar, Renesas Electronics Locations: Japan, Fidelity Japan

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