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Why the Dollar's Comeback Could Be Bad News for the Stock Market
  + stars: | 2023-11-20 | by ( ) www.wsj.com   time to read: 1 min
Why the Dollar's Comeback Could Be Bad News for the Stock MarketAfter weakening earlier this year, the U.S. dollar is pushing higher and could be headed back toward the 20-year high it touched in 2022. WSJ’s Dion Rabouin explains why this could be bad news for investors. Photo illustration: Noah Friedman
Persons: WSJ’s Dion Rabouin, Noah Friedman Organizations: Stock, U.S .
After weakening earlier this year, the U.S. dollar is pushing higher and could be headed back toward the 20-year high it touched in 2022. WSJ’s Dion Rabouin explains why this could be bad news for investors. Photo illustration: Noah FriedmanBUENOS AIRES—The self-styled anarcho-capitalist who won Argentina’s presidency on Sunday plans to ditch his nation’s peso and adopt the U.S. dollar as the national currency. President-elect Javier Milei ’s top campaign proposal was aimed at eradicating rampant inflation that has for decades ravaged Latin America’s third-biggest economy by removing the battered national currency from circulation and stripping the central bank of its power to print money. Uncontrolled money-printing to cover public expenditures, economists say, has fueled 143% inflation, one of the world’s highest.
Persons: WSJ’s Dion Rabouin, Noah Friedman BUENOS, Argentina’s, Javier Milei ’ Organizations: U.S ., Noah Friedman BUENOS AIRES, U.S
Best gift ever On his departure from the Musée des Arts Décoratifs, staff members, friends and board members presented him with a textile sculpture by the French artist Simone Pheulpin, who was the subject of an exhibition there in late 2021. “This sculpture is, for me, a talisman,” Mr. Gabet wrote, “both a remembrance of nine years of my professional and personal life, a wonderful and powerful art work, but also the objet d’art which will accompany me for the forthcoming years of my life.”Image The textile sculpture by the French artist Simone Pheulpin that was given to Olivier Gabet. Best gift ever “When I was in elementary school, after moving to Paris from Niger, I was gifted with Amadou Hampâté Bâ’s memoir, ‘Amkoullel, L’Enfant Peul,’ by my father. Like the author, I have Peul (or Fulani) heritage and roots in the Sahel region of West Africa. I felt a deep pull while reading, like a multitude of secrets I had yet to unfold.”
Persons: Simone Pheulpin, Mr, Gabet, , Olivier Gabet, ‘ Les, Anne Dion, ” Tatiana Kombo Ms, Kombo, Amadou Hampâté Bâ’s, , L’Enfant Organizations: Arts Locations: French, Paris, , Niger, Sahel, West Africa
TEL AVIV—With fears rising about the safety of hostages held in Gaza, the White House sent its top Middle East adviser to the region on Wednesday to push for the captives’ release. Brett McGurk , National Security Council coordinator for the Middle East and North Africa, met with Israeli leaders at the start of a regional visit that is part of the Biden administration’s efforts to prevent the conflict in Gaza from spiraling into a broader regional war. McGurk, who is also a deputy assistant to Biden, will next meet with Palestinian, Jordanian and Persian Gulf officials.
Persons: Brett McGurk, Biden, McGurk Organizations: White House, National Security Locations: TEL AVIV, Gaza, East, North Africa, Persian
As Rent Rises Cool, So Will Inflation
  + stars: | 2023-11-14 | by ( Justin Lahart | ) www.wsj.com   time to read: 1 min
Will the strong U.S. economic data we’ve seen push the Fed to change policy this year? What comes next depends on how the Fed will interpret the data. Photo: Sarah Silbiger/Bloomberg NewsInflation has been cooling, and a big part of why is that rent increases have as well. That is also why inflation is likely to keep going lower in the months ahead. Tuesday’s inflation report from the Labor Department showed that overall consumer prices were up 3.2% from a year earlier in October, while core prices, which exclude food and energy prices in an effort to better track inflation’s underlying trend, were up 4%.
Persons: WSJ’s Dion Rabouin, Sarah Silbiger Organizations: Bloomberg, Labor Department
In Paris, Notre-Dame’s Treasures Are on Display
  + stars: | 2023-11-14 | by ( Tina Isaac-Goizé | ) www.nytimes.com   time to read: +1 min
While Notre-Dame’s sacristy — a separate space, off the choir, which held the cathedral's treasury — was not touched by the blaze that tore through the building on April 15, 2019, the destruction of the site and its security system meant that all the cathedral’s treasures had to be removed immediately, said Anne Dion-Tenenbaum, a co-curator of the exhibition. Most pieces are now being stored in the Louvre’s Department of Decorative Arts, where she is the deputy director. “It gave us an opportunity to really study these objects, whose spiritual dimension makes them very striking,” Ms. Dion-Tenenbaum said in an interview. Over time, she and her fellow curators uncovered a few surprises in the treasury, which led them to look in other repositories around Paris and the rest of the country to unravel the mysteries of what was in the treasury, what wasn’t and what it all meant. And a richly colored prayer book illustration, from around the 15th century, depicted the moment in the early 12th century when what was said to be a fragment of Jesus’s cross arrived at Notre-Dame.
Persons: , Anne Dion, , ” Ms, Dion, Tenenbaum, Ermentrude Organizations: Notre, Louvre’s Department, Decorative Arts, Dame Locations: Louvre’s, Paris, Gaul
Insider Today: Financial freedom's reality
  + stars: | 2023-11-11 | by ( Diamond Naga Siu | ) www.businessinsider.com   time to read: +7 min
download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . In today's big story, I'm exploring something equally mysterious to me: How people who have achieved financial freedom got there, and what their lifestyles are like. The big storyThe work behind financial freedomTyler Le/InsiderPassive income. The concept of financial freedom sounds like a dream come true. The Insider Today Saturday team: Diamond Naga Siu, senior reporter, in San Diego.
Persons: , Tyler Le, Dion McNeeley, Brian Luebben, they've, Arantza Pena Popo, Heather Johnson, Brandon Timothy, Heather, Brandon, he's, Austria Cassandra De Pecol, who's, Zers, Gen Zers, I'm, Nolan Church, Nicole J, Van, Bean, Dunkin, Krispy, Eduardo Munoz, Samantha Lee, Chelsea Davis Spatchcocking, Naga Siu, Dan DeFrancesco, Hallam Bullock, Lisa Ryan Organizations: Service, YouTube, Airbus, Orlando International, Google, Doordash, Riverton, REUTERS Locations: Austria, Pakistan, Tunisia, Riverton , Wyoming, Texas, Van Groningen, San Diego, New York City, London
Leading nominations for 2024 Grammy Awards
  + stars: | 2023-11-10 | by ( ) www.reuters.com   time to read: +3 min
60th Annual Grammy Awards – Show – New York, U.S., 28/01/2018 – Grammy Awards trophies are displayed backstage during the pre-telecast. REUTERS/Carlo Allegri/File Photo Acquire Licensing RightsNov 10 (Reuters) - Nominations for the music industry's Grammy Awards were announced Friday. Here are a few selected categories. RECORD OF THE YEAR"Worship" - Jon Batiste"Not Strong Enough" - boygenius"Flowers" - Miley Cyrus"What Was I Made For?" Editing by Gerry DoyleOur Standards: The Thomson Reuters Trust Principles.
Persons: Carlo Allegri, Jon Batiste, Miley Cyrus, Billie Eilish, Olivia Rodrigo, Taylor, Lana Del Rey, Janelle Monáe, Olivia Rodrigo Midnights, Jack Antonoff, Sam Dew, Taylor Swift, Dan Wilson, Caroline Ailin, Mark Ronson, Andrew Wyatt, Gregory Aldae Hein, Michael Pollack, Rob Bisel, Carter Lang, Solána Rowe, Daniel Nigro, Oliva Rodrigo, Billie Eilish O'Connell, Finneas O'Connell, Gracie Abrams Fred, Coco Jones Noah Kahan Victoria Monét, Kelly Clarkson, Ed Sheeran Midnights, Dlamini, Ari Starace, Naija Gaston, Ephrem Louis Lopez Jr, Onika Maraj, Nicki Minaj, Mohamad Camara, Symere Woods, Javier Mercado, Uzi, Rich, Brytavious Chambers, Isaac, Zac, De Boni, Aubrey Graham, J, Gwin, Anderson Hernandez, Michael, Finatik, Shéyaa Bin Abraham, Joseph, Drake, Andre Benjamin, Paul Beauregard, James Blake, Tim Moore, Dion Wilson, Eryn Allen Kane, Greta Van, Ballerini Brothers Osborne, Brothers Osborne Zach Bryan, Zach Bryan Rustin, Tyler Childers, Lainey Wilson, Daniel Trotta, Gerry Doyle Organizations: REUTERS, Dua, Thomson Locations: York, U.S, Dua Lipa
She said ChatGPT helped her cut her launch timeline to about a month and see new possibilities for marketing. Here are three ways these small-business owners have experimented with AI to support their marketing strategies. In October, Alert used ChatGPT to help her conceptualize and organize an influencer event, so she didn't need to pay for an event planner. To help with user research, she asked ChatGPT for ideas about the types of users she might target. ChatGPTSmith said she likes to approach working through ideas with ChatGPT as if she's chatting with a colleague.
Persons: ChatGPT isn't, SBOs, , Candice Smith, Dion Lamar Mills, Smith, Marina Guastavino, ChatGPT, Guastavino, Marcela Rogante, ChatGPT Smith Organizations: Small, Service, French Press, French Press Public Relations
With the U.S. projected to borrow $2 trillion yearly for the next decade, the Treasury Department will need to sell a lot more bonds to make up for the deficit. WSJ’s Dion Rabouin explains what it means for the stock market. Photo illustration: Noah FriedmanIn times of war and conflict, investors have long piled into Treasury bonds and other safe-haven assets, bringing interest rates down. But in today’s disintegrating geopolitical environment, where hot spots around the world threaten to upend the supply of key commodities, it’s becoming harder for investors to book their flights to safety. That helps explain why bond yields have risen recently—and may stay high.
Persons: WSJ’s Dion Rabouin, Noah Friedman Organizations: U.S, Treasury Department
Abdullah Abu Nada was working in his laboratory at Gaza City’s biggest hospital last month when his friend came in with chilling news: The house where his wife and four children were sheltering had been hit by an Israeli airstrike. As survivors of the attack began arriving at the emergency room, Abu Nada, a chemist, rushed through the chaotic halls, searching for his family. One small boy had been pulled from the rubble, but when soot was rubbed from the child’s face, it was clear it wasn’t Abu Nada’s youngest son.
Persons: Abdullah Abu Nada, Abu Nada, Abu Nada’s Locations: Gaza
CNN —Singer Celine Dion was spotted at an ice hockey game in Las Vegas on Monday, in a rare public appearance. The NHL game was her first public outing in more than three years, according to media reports. Celine Dion visited the Montreal Canadiens after their game against the Vegas Golden Knights. celinedion/InstagramDropping in on the Canadian side after the game, Dion shared photos of herself and her three sons in the locker room with Canadiens head coach Martin St-Louis and some of the players. A video posted on the Montreal Canadiens’ Instagram page shows the “My Heart Will Go On” singer laughing and joking with the players after congratulating them on a good game.
Persons: CNN — Singer Celine Dion, , Celine Dion, Dion, Martin St, Louis, Pope, , , Pope John Paul II, it’s, We’ve, “ We’ve Organizations: CNN, NHL, Montreal Canadiens, Vegas Golden Knights, Canadiens, Montreal Canadiens ’, , Locations: Las Vegas, Canadian, Canada, ” St
China’s slowing economy could soon become a major talking point for U.S. companies as they begin to report third-quarter earnings. WSJ’s Dion Rabouin explains. Illustration: Elizabeth SmelovApple said sales fell for the fourth consecutive quarter, including a decline in China that came as the company faces a broad economic slowdown in the country and new competition from rival Huawei Technologies. The September quarter marks the fourth straight period in which Apple reported year-over-year declines in total revenue, the longest such slump in years. Apple sales were $89.5 billion, down less than 1% from the previous year and largely in line with analyst estimates, even as net income of about $23 billion exceeded expectations.
Persons: WSJ’s Dion Rabouin, Elizabeth Smelov Apple Organizations: Huawei Technologies, Apple Locations: China
WSJ’s Dion Rabouin unpacks the latest GDP report and explains what it says about the state of the economy. Photo: Li Jianguo/Zuma PressAmerican workers are still commanding big pay raises, though not quite as beefy as last year. That is good news for workers but a potential complication for the Federal Reserve’s fight to lower inflation. Employers spent 1.1% more on wages and benefits in July through September than in the prior three months, according to the Labor Department’s employment-cost index, released Tuesday. That was slightly better than the 1% gain in the second quarter and a sign that wage pressures remained strong as economic growth accelerated.
Persons: WSJ’s Dion Rabouin, Li Jianguo Organizations: Zuma Press American, Federal, Employers, Labor
China’s slowing economy could soon become a major talking point for U.S. companies as they begin to report third-quarter earnings. Illustration: Elizabeth SmelovChina’s surprise investigation into Apple supplier Foxconn, a key link in the iPhone supply chain, may be intended to send a message. The one Apple and its suppliers actually receive might do China more harm than good. Chinese authorities have launched tax and land-use probes into subsidiaries of Foxconn , formally known as Hon Hai Precision Industry , the company confirmed last week. That is surprising since Foxconn, which is the world’s largest contract electronics manufacturer, has long had an amicable relationship with China—and is one of the biggest employers in the country.
Persons: WSJ’s Dion Rabouin, Elizabeth Smelov China’s Organizations: Apple, Foxconn, Hai Precision Industry Locations: China
WSJ’s Dion Rabouin unpacks the latest GDP report and explains what it says about the state of the economy. Photo: Li Jianguo/Zuma PressFederal Reserve officials have said for more than a year that beating inflation could require them to hold interest rates higher for longer than investors expected. The swift run-up in long-term Treasury yields—to around 5% from 4% in early August—suggests Wall Street now agrees. As a result, borrowing costs for U.S. businesses and households are rising in ways that could allow the Fed to suspend its historic run of interest-rate increases.
Persons: WSJ’s Dion Rabouin, Li Jianguo, Organizations: Zuma Press Federal Reserve
What the Latest U.S. GDP Report Means for Inflation and Odds of RecessionWSJ’s Dion Rabouin unpacks the latest GDP report and explains what it says about the state of the economy. Photo: Li Jianguo/Zuma Press
Persons: Dion Rabouin, Li Jianguo Organizations: Zuma Locations: U.S
Moderately higher inflation in September would keep Fed officials on track to hold interest rates steady at its Oct. 31-Nov. 1 policy meeting. They are closely watching underlying price trends to gauge whether they have raised short-term interest rates enough to slow the economy and tame inflation. The Fed over the past 20 months has raised interest rates at the fastest pace in four decades. The Fed last raised rates in July, lifting its benchmark federal-funds rate to a range between 5.25% and 5.5%, a 22-year high. Has recent inflation progress stalled?
Persons: WSJ’s Dion Rabouin, Li Jianguo, saul loeb Organizations: Zuma, Wall, Fed, Agence France, Commerce, Commerce Department
Inflation Trends Keep Fed Rate Hikes on Pause
  + stars: | 2023-10-27 | by ( Harriet Torry | Nick Timiraos | ) www.wsj.com   time to read: 1 min
WSJ’s Dion Rabouin unpacks the latest GDP report and explains what it says about the state of the economy. Photo: Li Jianguo/Zuma PressInflation’s summer decline slowed last month. But inflation has improved enough recently for Federal Reserve officials to hold interest rates steady at their meeting next week. The personal-consumption expenditures price index, the Fed’s preferred inflation gauge, rose 0.4% in September from the prior month, the same pace as in August, the Commerce Department said Friday. So-called core prices, which exclude volatile food and energy categories, increased 0.3% in September, compared with a 0.1% rise in August.
Persons: WSJ’s Dion Rabouin, Li Jianguo Organizations: Zuma Press, Federal Reserve, Commerce Department
The Israeli army said Friday night that it was expanding its ground operations in the Gaza Strip amid intensifying airstrikes in its most significant maneuver yet ahead of an invasion intended to end 16 years of Hamas rule, while the strip came under a nearly complete communications blackout. Rear Adm. Daniel Hagari, the chief Israel Defense Forces spokesman, again urged Palestinians to leave the northern Gaza Strip, including Gaza City, to head south, amid growing signs that the military was poised to launch an expansive ground operation.
Persons: Daniel Hagari Organizations: Israel Defense Forces Locations: Gaza
Goldman exec exits revealed
  + stars: | 2023-10-27 | by ( Dan Defrancesco | ) www.businessinsider.com   time to read: +7 min
In today's big story, we're taking a deeper look at the number of partner departures at Goldman Sachs under CEO David Solomon. The big storyGoldman exits, by the numbersPaul Morigi/Getty Images; Jenny Chang-Rodriguez/InsiderAt least 210 Goldman Sachs partners have left on David Solomon's watch. It's also higher than Insider's analysis of yearly partner exits during the 14 years before Solomon took over as CEO, which came to 40.4. AdvertisementAdvertisementThe case for SolomonWhile partner departures under Solomon have increased, according to our analysis, it hasn't been a massive bump. Former Goldman partners become future Goldman clients, the bank likes to say.
Persons: , Céline Dion, Goldman Sachs, David Solomon, What's, Goldman, Paul Morigi, Jenny Chang, Rodriguez, David Solomon's, Dakin Campbell, Emmalyse Brownstein, Walt Hickey, Kaja Whitehouse, It's, Solomon, Tony Fratto, Samantha Lee, hasn't, Lloyd Blankfein —, Solomon's, Solomon isn't beholden, it's, doesn't, Omer Ismail, CHANDAN KHANNA, Chelsea Jia Feng, Sam Bankman, Fried, SBF, Judge Lewis Kaplan, Israel, Duran Duran, Taylor Swift, Blake Shelton, Gwen Stefani, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, Goldman, Walmart, Getty, View Press, Investors, Deal, Microsoft, MLB, The Arizona Diamondbacks, Texas Rangers, ExxonMobil, The Locations: Porirua , New Zealand, Chelsea, Israel, Arlington , Texas, Chevron, AutoNation, New York City, San Diego, London, New York
What Will the Economy Do for an Encore?
  + stars: | 2023-10-26 | by ( Justin Lahart | ) www.wsj.com   time to read: 1 min
Economists expected economic growth to rise significantly and now that we’ve got the latest GDP report, we’ll break down the biggest takeaways in the data. WSJ’s Dion Rabouin will unpack the report and explain what really matters. Photo: Li Jianguo/Zuma PressA lot of investors are familiar with Stein’s law, named after the late economist Herbert Stein : “If something cannot go on forever, it will stop.”Which brings us to Thursday’s gross-domestic-product report. The Commerce Department reported that the U.S. economy grew at an inflation-adjusted 4.9% annual rate, the biggest gain since the fourth-quarter of 2021, and far stronger than the less-than-2% rate that Federal Reserve policymakers think it needs to settle in at to avoid overheating.
Persons: we’ve, WSJ’s Dion Rabouin, Li Jianguo, Herbert Stein Organizations: Commerce Department, Federal Locations: U.S
Economists expected economic growth to rise significantly and now that we’ve got the latest GDP report, we’ll break down the biggest takeaways in the data. WSJ’s Dion Rabouin will unpack the report and explain what really matters. Photo: Li Jianguo/Zuma PressU.S. economic growth surged this summer, as consumers boosted spending ahead of growing challenges that could limit their ability to maintain the momentum. Gross domestic product grew at a seasonally- and inflation-adjusted 4.9% annual rate in the third quarter, the Commerce Department reported Thursday. That was the fastest rate since late 2021 and much stronger than economists were anticipating just a few months ago.
Persons: we’ve, WSJ’s Dion Rabouin, Li Jianguo Organizations: Zuma Press U.S, Gross, Commerce Department
WSJ’s Dion Rabouin unpacks the latest GDP report and explains what it says about the state of the economy. Photo: Li Jianguo/Zuma PressU.S. economic growth surged this summer at the fastest pace since 2021, as consumers spent at a blockbuster rate that will be difficult to sustain. Gross domestic product expanded at a 4.9% seasonally- and inflation-adjusted annual rate in the third quarter—more than double the second quarter pace—the Commerce Department reported Thursday. The acceleration won’t change the Federal Reserve’s plans to hold rates steady at their meeting next week.
Persons: WSJ’s Dion Rabouin, Li Jianguo Organizations: Zuma Press U.S, Gross, Commerce Department
TZE’ELIM, Israel—In the sun-torched plains of southern Israel, thousands of soldiers wait for the go-ahead from politicians and commanders to do what the Israeli military has trained for years to do: fight in the Gaza Strip. The Israeli military has built a replica of a generic Palestinian village nicknamed “Little Gaza” at a base in the Negev Desert, where soldiers train for combat against armed terrorists in narrow streets and a labyrinth of tunnels.
Persons: Israel — Organizations: Gaza Locations: TZE’ELIM, Israel, Gaza
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