DIRS.INFO The most relevant business & tech news

☆ China's June factory activity slows as conditions weaken - Caixin PMI
▼ + stars: | 2023-07-03 | by ( ) www.reuters.com time to read: +3 min

BEIJING, July 3 (Reuters) - China's factory activity growth slowed in June, a private sector survey showed on Monday, with sentiment waning and recruitment cooling as firms grew increasingly concerned about sluggish market conditions. The figure, combined with Friday's official survey that showed factory activity extending declines, adds to evidence the world's No. The Caixin manufacturing PMI surveys around 650 private and state-owned manufacturers and, according to economists, focuses more on export-oriented firms in coastal regions, while the official PMI surveys 3,200 companies across China. Markets now anticipate more policy support to bolster a stuttering economic recovery, despite the central bank cutting key lending benchmark rates in June to shore up activity. "Problems reflected in June's Caixin China manufacturing PMI, ranging from an increasingly dire job market to rising deflationary pressure and waning optimism, also point to the same conclusion."

Persons: Wang Zhe, Ellen Zhang, Ryan Woo, Sam Holmes Organizations: P Global, Caixin Insight, PMI, Companies, State Council, Thomson Locations: BEIJING, China, June's

Pan Gongsheng was appointed Saturday as the new Communist Party chief at the People’s Bank of China (PBOC), in a surprise move as Beijing bolsters its drive to arrest the country’s economic slowdown and stem a slide in its currency. Pan currently serves as the deputy governor of the PBOC. “My initial reaction is this suggests Xi [Jinping] is more concerned about China’s economy than before the 20th Party Congress,” Thomas said. Since then, he has spent nearly two decades working at large state-owned banks, including the Industrial and Commercial Bank of China (ICBC) and the Agricultural Bank of China (ABC). After returning to China, he was promoted to deputy governor at the PBOC in 2012.

Persons: Yi Gang, Pan Gongsheng, Janet Yellen, Pan, Yi, didn’t, Guo Shuqing, Neil Thomas, wasn’t, ” Thomas, Xi, Mao, Thomas, China’s, Biden, ” Organizations: Beijing CNN, Cambridge University, Harvard University, Communist Party, People’s Bank of China, Securities Times, CNN, Ant, Asia Society, Center for, Communist Party’s, Committee, 20th Party Congress, Wall Street Journal, Treasury Department, Renmin University of China, Industrial, Commercial Bank of China, Agricultural Bank of China, ABC, Harvard University’s Kennedy School of Government, State Administration of Foreign Exchange, Beijing, P Global, PMI Locations: Hong Kong, Beijing, China, Shanghai, Center for China, United States, West

☆ China's factory activity grew more slowly in June, Caixin survey shows
▼ + stars: | 2023-07-03 | by ( Clement Tan | ) www.cnbc.com time to read: +1 min

China's factory activity grew more slowly in June, a private-sector survey showed on Monday, corroborating official data last week that pointed to stuttering growth in the world's second-largest economy. The Caixin/S&P Global manufacturing purchasing managers' index slipped to 50.5 in June from 50.9 in May. China's National Bureau of Statistics released data last Friday that showed the country's official manufacturing PMI coming in at 49.0 in June — compared with 48.8 in May. "Problems reflected in June's Caixin China manufacturing PMI, ranging from an increasingly dire job market to rising deflationary pressure and waning optimism, also point to the same conclusion." The Caixin manufacturing PMI surveys around 650 private and state-owned manufacturers that tend to be more export-oriented and located in China's coastal regions, while the official PMI surveys 3,200 companies across China.

Persons: —, Wang Zhe Organizations: P Global, National Bureau of Statistics, Caixin Insight, PMI Locations: June's, China

Traders work on the floor of the New York Stock Exchange (NYSE), June 29, 2023. U.S. stock futures were little changed Sunday night, as traders prepared for the second half of what's already been a stellar year on Wall Street. Tesla shares were little changed in overnight trading after the electric vehicle maker reported delivery and production numbers that beat analysts' expectations. Recent data showing a resilient U.S. economy despite higher rates also lifted investor sentiment, easing some fears on Wall Street of a long-awaited downturn. Investors will pore over the latest ISM Manufacturing PMI and S&P Global manufacturing PMI data for June Monday morning ahead of Friday's keynote jobs report.

Persons: Stocks, Mark Hackett, Nationwide's Organizations: New York Stock Exchange, Futures, Dow Jones, Nasdaq, Independence, Manufacturing PMI, P Global Locations: technicals

☆ The AI-powered rally to start the year could broaden out in the third quarter
▼ + stars: | 2023-06-30 | by ( Sarah Min | ) www.cnbc.com time to read: +5 min

Stocks markets are wrapping up a surprisingly strong start to the year, but whether it will continue is an open question as investors wade into a seasonally weak period for markets. Even the laggard Dow Jones Industrial Average, with few tech stocks, managed to eke out a 3.6% gain. Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia and Tesla account for 80% of the gains in the S & P 500, according to UBS. The S & P 500 health sector is down almost 3% this year. Next week marks the start of July and the third quarter of 2023.

Persons: didn't, Jamie Cox, Cox, John Lynch, Harris Financial's Cox, that's, Comerica's Lynch, Kim Forrest, Nonfarm payrolls Organizations: Spring, Federal Reserve, Dow Jones, Harris Financial, Apple, Meta, Microsoft, Nvidia, UBS, Comerica Wealth Management, Nasdaq, Investors, Bokeh Capital Partners, Independence, P Global, PMI, Tuesday U.S

☆ AI could solve the engineering brain drain, a new study says
▼ + stars: | 2023-06-22 | by ( Aaron Mok | ) www.businessinsider.com time to read: +3 min

97% of the decision makers who responded to the survey say a shortage of mechanical engineering talent is on its way. "Unfortunately, there are not enough students graduating with engineering degrees to meet this growing demand," Evans told Insider over email. 97% of respondents believe AI will impact product development and manufacturing tasks like quality control and product design. 62% of decision makers say they are training their existing workers in AI tech to improve their workflows. Now, it's only a matter of time before the manufacturing industry adopts AI.

Persons: Fictiv, Dave Evans, Evans Organizations: Engineers

The reshoring trend is bringing manufacturing back into the U.S., putting the need for robots and automation at the forefront of the building boom. But with a tight labor market, companies are incorporating more automation and robotics into these brand new factories. Another robotics company Daryanani picked was Azenta . Sakraida said it could see upside as it gradually exposes itself more to the reshoring trend. It's working toward becoming a pure-play automation company," Sakraida said.

Persons: Jonathan Sakraida, reshoring, Carol Schleif, BMO's, Amit Daryanani, Daryanani, chipmakers, Morgan Stanley, industrials, Jonathan Coleman, Janus Henderson, Sakraida, Chris Snyder, Rockwell, — CNBC's Michael Bloom Organizations: UBS, Labor, BMO Family, HP, Janus Henderson Investors, Lincoln Electric, Rockwell Automation, ROK, Emerson Electric, Emerson Locations: U.S

☆ Global manufacturing is sputtering
▼ + stars: | 2023-06-11 | by ( Bryan Mena | ) edition.cnn.com time to read: +8 min

S&P Global data showed that the US manufacturing sector fell into contraction territory in May. Business conditions in China’s manufacturing industry, the largest in the world, improved in May, according to the Caixin manufacturing Purchasing Managers’ Index. Globally, manufacturers’ optimism fell to its lowest level since December, according to the JPMorgan Global Manufacturing PMI. The possibility of China reinvigorating global economic growth is slipping. That could eventually lead to global manufacturers trimming their workforces if demand for goods continues to weaken and their backlogs shrink further.

Persons: ”, Ariane Curtis, “ We’ve, Tom Garretson, Jerome Powell, hasn’t, won’t bode, Liu Young, Monish Patolawala Organizations: DC CNN — Manufacturers, Factories, P, Institute for Supply Management, Commerce Department, JPMorgan Global Manufacturing PMI, Capital Economics, International Monetary Fund, RBC Wealth Management, Credit Suisse, UBS, The Federal Reserve, European Central Bank, Fed, Apple, 3M, National Association of Manufacturers Locations: Washington, United States, Ireland, China, Europe, Germany, Europe’s

☆ The U.S. economy keeps skirting recession, but consumer sector might slowly be splitting apart
▼ + stars: | 2023-06-08 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +5 min

The signals that economists lean on to gauge the odds of a recession are contradictory at the moment. The yield curve remains deeply inverted, and manufacturing surveys have been flashing recession signals for months. On Tuesday, Goldman Sachs lowered its odds of a U.S. recession in the next 12 months to just 25%. watch nowBut can the strong consumer sector continue to hold up as the pandemic-era savings fade away and interest rates remain elevated? Stock Chart Icon Stock chart icon Dollar General's stock fell sharply after the retailer cut its full-year outlook.

Persons: Mike Blake, Goldman Sachs, Marko Kolanovic, Lauren Goodwin, Goodwin, It's, Nick Bunker, they're, Bunker Organizations: Reuters, Federal Reserve, PMI, JPMorgan, New York Life Investments, Target, American Airlines, Labor, Meta, Disney, North America Locations: Carlsbad , California, U.S

In the physical oil market, where any short-term production cut should have the greatest and most immediate impact, the calendar spreads between nearby months strengthened only slightly. The unilateral Saudi cut, described by the country’s oil minister as a “lollipop”, is for a month, but could be extended. Chartbook: Brent prices and spreadsSTEMMING THE SLIDEThere is evident frustration among OPEC⁺ officials about the continued slide in prices despite three rounds of cuts announced since October 2022. U.S. oil production has continued to rise in a delayed response to last year’s very high prices, which has also kept the market well-supplied. But OPEC⁺ cuts have not (yet) been enough to lift prices and spreads rather than arresting their fall.

Persons: Brent, OPEC ⁺, ”, John Kemp, Barbara Lewis Organizations: OPEC, European Union, Global, OPEC ⁺, Thomson, Reuters Locations: Saudi Arabia, China, Saudi, North America, Europe

☆ Japan's Q1 GDP growth seen revised up on strong capex
▼ + stars: | 2023-06-02 | by ( Kantaro Komiya | ) www.reuters.com time to read: +2 min

TOKYO, June 2 (Reuters) - Japan's economy likely grew more than initially estimated in the first three months of this year, thanks to solid investments by manufacturers, a Reuters poll showed. Economists also projected Japan's current account balance stayed in black in April thanks to a smaller services deficit as tourists flocked back to the country. The median estimate for April current account stands at a surplus of 1.6638 trillion yen ($12 billion). The government will release the revised first-quarter GDP figures and the current account balance data at 8:50 a.m. on June 8 (2350 GMT, June 7). Household spending data is due at 8:30 a.m. on June 6 (2330 GMT, June 5).

Persons: Kantaro Komiya, Kim Coghill Organizations: Ministry of Finance, Manufacturers, Nikko Securities, Thomson Locations: TOKYO, Japan

☆ Oil prices rise as Congress approves US debt ceiling bill
▼ + stars: | 2023-06-02 | by ( Andrew Hayley | ) www.reuters.com time to read: +3 min

REUTERS/Brendan McDermidBEIJING, June 2 (Reuters) - Oil prices rose on Friday amid bullish sentiment following the passage of a U.S. debt ceiling bill in Washington, while markets weighed the likelihood of price-supportive OPEC+ production cuts over the weekend. Further reductions in OPEC+ output following their surprise cut of 1.16 million barrels per day in April would be bullish for crude prices. Other market observers have pointed to weak manufacturing data out of China and the U.S. as making OPEC+ cuts more likely. "Oil prices are stabilizing after a round of disappointing global manufacturing data supported the case for OPEC+ to deliver another production cut," said Edward Moya, a senior market analyst at OANDA. However, traders are "thinking that Russia might not necessarily stick to a hard stance on output cuts, especially since they are struggling to commit to their quotes," Moya added.

Persons: Brendan McDermid, Goldman Sachs, Edward Moya, Thursday's, Moya, Andrew Hayley, Jamie Freed, Kim Coghill Organizations: REUTERS, Brent, U.S, West Texas, Federal Reserve, Thursday's, Energy Information Administration, Organization of, Petroleum, Reuters, HSBC, OANDA, U.S ., Institute for Supply Management, PMI, P Global, Thomson Locations: New York Harbor, of, New York City, U.S, Brendan McDermid BEIJING, Washington, Russia, China, P Global China

☆ Elon Musk's whirlwind China trip included talks with vice premier
▼ + stars: | 2023-06-01 | by ( ) www.reuters.com time to read: +2 min

SHANGHAI, June 1 (Reuters) - Tesla Inc (TSLA.O) Chief Executive Elon Musk departed Shanghai on Thursday, wrapping up a two-day trip to China in which he met senior Chinese government officials including the highest-ranking vice premier. The video released by Tesla showed Musk praising employees for "overcoming so many difficulties and challenges" and making a heart sign with his hands. Earlier in the trip, Musk met with China's foreign, commerce and industry ministers in Beijing and dined with the chairman of battery supplier Contemporary Amperex Technology Co Ltd (CATL) (300750.SZ). He also met with Chinese Vice Premier Ding Xuexiang on Wednesday, a source familiar with the matter said. China values its relationship with Tesla and in 2019 Musk had a one-on-one meeting with then premier Li Keqiang.

Persons: Elon Musk, Musk's, Tom Zhu, Tesla, Musk, Ding Xuexiang, Ding, Xi Jinping, Li Keqiang, Chen Jining, Chen, Zhang Yan, Brenda Goh, Nicoco Chan, Julie Zhu, Edwina Gibbs Organizations: Tesla Inc, Amperex Technology Co, State, Information Office, U.S ., Thomson Locations: SHANGHAI, Shanghai, China, Beijing, U.S, Shanghai's Hongqiao, Austin , Texas, Hong Kong

☆ Elon Musk wraps up whirlwind China trip
▼ + stars: | 2023-06-01 | by ( ) www.reuters.com time to read: +1 min

SHANGHAI, June 1 (Reuters) - Tesla Inc (TSLA.O) Chief Executive Elon Musk departed Shanghai Thursday morning, wrapping up a two-day trip to China in which he met government ministers, a key battery supplier and visited the automaker's biggest production hub. Photos of Musk's visit to Tesla's Shanghai factory late Wednesday showed him holding up a "Giga Shanghai" sign, flanked by hundreds of staff including head of global manufacturing Tom Zhu. "A very rewarding day!," Grace Tao, Tesla's China-based public affairs chief, said in a social media post with the photos. Earlier in the trip, Musk met with China's foreign, commerce and industry ministers in Beijing where he also dined with the chairman of battery supplier Contemporary Amperex Technology Co Ltd (CATL) (300750.SZ). The industry ministry only said Musk and its head exchanged views about development of electric vehicles and connected cars; the commerce ministry announced he discussed Tesla's development in China with its minister.

Persons: Elon Musk, Tom Zhu, Grace Tao, Musk, Brenda Goh, Zhang Yan, Nicoco Chan, Edwina Gibbs Organizations: Tesla Inc, Amperex Technology Co, U.S ., Thomson Locations: SHANGHAI, Shanghai, China, Beijing, U.S, Shanghai's Hongqiao, Austin , Texas

☆ Asia's factories struggle for momentum amid patchy recovery
▼ + stars: | 2023-06-01 | by ( Leika Kihara | ) www.reuters.com time to read: +3 min

"The PMI surveys suggest that China's economic recovery was still ongoing in May, albeit at a slower pace. China's Caixin/S&P Global manufacturing PMI rose to 50.9 in May from 49.5 in April, above the 50-point index mark that separates growth from contraction. Vietnam, Malaysia and Taiwan also saw factory activity shrink in May, while that of the Philippines expanded, the surveys showed. Asia's economy is heavily reliant on the strength of China's recovery, which has been uneven with services spending outperforming activity in export-oriented sectors. In forecasts released in May, the International Monetary Fund said it expects Asia's economy to expand 4.6% this year after a 3.8% gain in 2022, contributing around 70% of global growth.

Persons: Julian Evans, Pritchard, Wang Zhe, Leika Kihara, Sam Holmes Organizations: PMI, Capital Economics, P Global, Caixin Insight, Jibun, International Monetary Fund, Thomson Locations: South Korea, Vietnam, Taiwan, TOKYO, China, Japan, Asia, South, Malaysia, Philippines

☆ China's factory activity swings to surprise growth in May - Caixin PMI
▼ + stars: | 2023-06-01 | by ( ) www.reuters.com time to read: +3 min

The Caixin/S&P Global manufacturing purchasing managers' index (PMI) rose to 50.9 in May from 49.5 in April, above the 50-point index mark that separates growth from contraction. The reading surpassed expectations of 49.5 in a Reuters poll, a stark contrast to a deeper contraction activity seen in the official PMI released on Wednesday. The manufacturing subindexes showed factory output rose at the fastest clip in 11 months while new orders including new exports expanded in May. However, business confidence for the coming 12 months fell to a seven-month low amid concerns over global economic prospects. "Current economic growth lacks internal drive and market entities lack sufficient confidence, highlighting the importance of expanding and restoring demand, " said Wang Zhe, Senior Economist at Caixin Insight Group.

Persons: Zhou Hao, Hang, Wang Zhe, 25bps, Liangping Gao, Joe Cash, Ryan Woo, Sam Holmes, Simon Cameron, Moore Organizations: P Global, PMI, Guotai, CSI, Caixin Insight, ANZ, Thomson Locations: BEIJING, China

☆ Morning Bid: Hot, cold and skipping a beat
▼ + stars: | 2023-06-01 | by ( ) www.reuters.com time to read: +4 min

Like a patient with a virus, incoming data appears to blow hot and cold at the same time. Private sector and full national snapshots of payroll growth for May are due later today and on Friday. But a renewed rise in U.S. staff vacancies in April showed the labor market tightening again if anything - even a Chicago manufacturing survey alarmed with a sharp contraction in factory activity last month. The central bank's "Beige Book" on economic conditions said on Wednesday that the labor market "continued to be strong" in May "with contacts reporting difficulty finding workers across a wide range of skill levels and industries." U.S. Treasury yields crept back up on Thursday after the debt ceiling vote overnight and despite the mixed economic picture.

Persons: Mike Dolan, Philip Jefferson, Larry Fink, Klaas Knot, Patrick Harker, President Biden, Emelia Sithole Organizations: Federal Reserve, Fed, BlackRock, Treasury, U.S, San, Central Bank, Philadelphia Federal, Broadcom, Dollar, Hormel, Cooper Companies, Republicans, Reuters Graphics, Thomson, Reuters Locations: U.S, Chicago, Salesforce, San Francisco

☆ Firms are bringing production back home because of the Ukraine war, China's slowdown — and TikTok
▼ + stars: | 2023-06-01 | by ( Lucy Handley | ) www.cnbc.com time to read: +8 min

Earnings calls discuss 'reshoring'A number of banks noted mentions of the domestic manufacturing trend in U.S. earnings calls for the most recent quarter. And we have never … got the target right," McRaith told an audience at a supply chain conference organized by software company o9 Solutions in April. Bill McRaith Former chief supply chain officer, PVHMcRaith, a former chief supply chain officer at Tommy Hilfiger-owner PVH , said the apparel industry both over-orders and under-orders stock by about 20% to 25%. If we build an economy based on electrification and batteries, it's going to be really important to control our own supply chain. "If we build an economy based on electrification and batteries, it's going to be really important to control our own supply chain," he told CNBC's "Street Signs Asia" in April.

Persons: Luke Sharrett, Savita Subramanian, Ryan Grabinski, they're, Bill McRaith, McRaith, PVH, Tommy Hilfiger, we've, Shein, Jade Gao, it's, Keith Phillips, Joe Biden, CNBC's, Elon Musk, Phillips Organizations: European Union, Bloomberg, Getty, Bank of America, UBS, Securities, o9 Solutions, CNBC, AFP, U.S ., Reshoring, EV, U.S, EVs Locations: China, Ukraine, U.S, Europe, Brazil, Guangzhou, U.S . U.S, Corpus Christi , Texas, Tennessee, United States

Refinitiv data shows foreigners sold $1.71 billion worth of mainland shares this month via Stock Connect, a key cross-border link between the mainland and Hong Kong exchanges, after selling $659 million in April. Despite outflows in February, April and May, foreigners' net purchases of mainland shares still stood at $25.05 billion for the first five months of this year, compared with net buying of about $6.36 billion worth over the whole of 2022. "Foreigners seem to have been selling because of the underwhelming near-term economic data points and, perhaps, because of the opportunities available to investors with a broader (pan-Asia or global) mandate," Pershad said. "We presume other investors have re-allocated some capital from China to those markets (and others) this year." Reporting By Patturaja Murugaboopathy and Gaurav Dogra in Bengaluru; Editing by Vidya Ranganathan & Simon Cameron-MooreOur Standards: The Thomson Reuters Trust Principles.

Persons: Pruksa Iamthongthong, Refinitiv, Alexander Davey, Vikas Pershad, Pershad, Patturaja Murugaboopathy, Gaurav Dogra, Vidya Ranganathan, Simon Cameron, Moore Organizations: Stock Connect, Reuters, National Bureau of Statistics, P Global, PMI, Morningstar, Allianz All China Equity WT, HK, HSBC Asset Management, U.S . Federal Reserve, G Investments, Thomson Locations: Hong Kong, China, Morningstar ,, Taiwan, Shanghai, Asia, Bengaluru

"The bill now moves to the Senate, where we believe it will clear the 60-vote hurdle after some political and procedural posturing," analysts at BTIG said. ET, Dow e-minis were up 13 points, or 0.04%, S&P 500 e-minis were up 10 points, or 0.24%, and Nasdaq 100 e-minis were up 22.5 points, or 0.16%. The S&P Global manufacturing PMI and the Institute for Supply Management's (ISM) manufacturing PMI for May will also be on the watch list. C3.ai Inc (AI.N) slumped 22.8% after the artificial intelligence company forecast annual revenue outlook below street estimates. Reporting by Shreyashi Sanyal and Shristi Achar A in Bengaluru; Editing by Shounak Dasgupta and Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

Persons: BTIG, Philip Jefferson, Patrick Harker, Shreyashi Sanyal, Shristi, Shounak Dasgupta, Maju Samuel Organizations: Dow, Nasdaq, Republicans, Senate, Dow e, U.S . Federal Reserve, Labor, P Global, PMI, Institute for Supply, Fed Governor, Philadelphia Fed, Dow Jones, Nordstrom, Macy's Inc, Dollar General Corp, Thomson Locations: Bengaluru

[1/2] Tesla Chief Executive Officer Elon Musk gets in a Tesla car as he leaves a hotel in Beijing, China May 31, 2023. REUTERS/Tingshu WangBEIJING, May 31 (Reuters) - Tesla Inc (TSLA.O) CEO Elon Musk kicked off his second day in China with visits to the country's commerce ministry and industry ministry. Musk left his hotel on Wednesday morning accompanied by Grace Tao, Tesla's China-based public affairs chief and Tom Zhu, head of global manufacturing. He next visited the Ministry of Industry and Information which has regulatory oversight of the automotive industry. Tesla and the ministries did not immediately reply to a request for comment on discussions with Musk.

Persons: Elon Musk, Tingshu Wang, Musk, Grace Tao, Tom Zhu, Wang Wentao, Tesla, Qin Gang, Zeng Yuqun, CATL, Martin Pollard, Josh Arslan, Wang Tingshu, Joe Cash, Zhang Yan, Brenda Goh, Edwina Gibbs Organizations: Tesla, REUTERS, Tesla Inc, Ministry of Industry, Foreign, Thomson Locations: Beijing, China, Tingshu Wang BEIJING, Shanghai, United States

☆ Elon Musk visits China's commerce ministry
▼ + stars: | 2023-05-31 | by ( ) www.cnbc.com time to read: +1 min

Chinese State Councilor and Foreign Minister Qin Gang meets Tesla Chief Executive Officer Elon Musk in Beijing, China, in this handout image released by China's Ministry of Foreign Affairs May 30, 2023. Tesla CEO Elon Musk kicked off his second day in China with a visit to the country's commerce ministry on Wednesday morning. A day earlier, he met with Chinese Foreign Minister Qin Gang. Tesla and CATL did not respond to requests for comment on the meeting or on Musk's plans in China. He declined to comment at the hotel when questioned by reporters about the aim of his trip, Tesla's prospects in China and plans for Tesla's plant in Shanghai.

Persons: Qin, Elon, Elon Musk, Qin Gang, Zeng Yuqun, CATL, Musk, Tesla's, Grace Tao, Tom Zhu Organizations: Qin Gang, China's Ministry of Foreign, Foreign, CATL Locations: Beijing, China, Tesla's China, Shanghai, U.S

☆ Next week promises any debt deal relief may prove short-lived with jobs report, Fed decision looming
▼ + stars: | 2023-05-26 | by ( Scott Schnipper | ) www.cnbc.com time to read: +5 min

"The overhangs on the market this year [are] the debt ceiling negotiation, hawkish Fed commentary and a banking crisis. It appears we are going to get a debt ceiling deal over the weekend, which should help the market to stabilize." The problem for many on the Street is the action in the S & P 500 Tech Index, up more than 5% this week; the Nasdaq Composite , ahead about 2.5%; and the S & P 500 , with a 0.3% gain, masks so much weakness beneath the surface. The S & P 500 consumer staples, materials, health care and utilities were all down between 2.4% and 3.2% this week, and the Dow Industrials were lower 1%. Although the S & P 500 is 9.5% higher so far in 2023, only a few stocks are doing well. "

☆ A UBS stock chief breaks down how he's balancing investments in both safe and economy-dependent sectors in a way that will maximize outperformance during a coming recession
▼ + stars: | 2023-05-19 | by ( Lisa Kailai Han | ) www.businessinsider.com time to read: +5 min

Specifically, Lefkowitz has invested in both cyclical and defensive sectors to maximize his returns. In fact, to hedge his bets across a range of economic scenarios, Lefkowitz currently owns both defensive and cyclical sectors. Within the traditionally defensive sectors, Lefkowitz is overweight consumer staples and utilities. The energy sector, on the other hand, stands to benefit from increased investment capital pouring into fossil fuels and renewable energy sources, as a result of the recent energy scarcity crisis. Surprisingly, Lefkowitz is neutral on healthcare — traditionally considered another defensive sector — as a function of not wanting to place all his bets in one direction.

☆ G7 leaders gather on China's doorstep to seek unified response to Beijing
▼ + stars: | 2023-05-19 | by ( Nectar Gan | ) edition.cnn.com time to read: +8 min

‘Economic coercion’Another important theme of the summit will be economic security, including how to counter China’s economic pressure tactics. As the G7 summit gets underway, Chinese officials will be closely watching from Beijing and will not hide their displeasure, experts say. In the lead-up to the summit, Beijing has already berated a statement by G7 foreign ministers. Similarly, Beijing also lashed out at accusations of its “economic coercion,” claiming it is the “victim of US economic coercion” rather than a perpetrator. And while China is not invited to Hiroshima, it is hosting its own summit with Central Asia countries, experts noted.

Search resuls for: "Global Manufacturing"

25 mentions found