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☆ One measure of 'the market' is up 34% this year while another is only up 6%—here's why
▼ + stars: | 2023-07-21 | by ( Ryan Ermey | ) www.cnbc.com time to read: +5 min

All three "headline indexes" are considered, in one way or another, proxies for the stock market, and over long periods, they've tended to perform pretty similarly. S&P 500When investing pros talk about market returns, they're usually talking about the S&P 500. The index tracks roughly the 500 largest U.S.-traded stocks, comprising 80% of all stocks traded on the market. Created in 1957, the index was the U.S.'s first index weighted by market capitalization (stock price times total outstanding shares), and today it is the favored benchmark index for mutual fund managers who measure themselves against the broad stock market. Nasdaq CompositeThe Nasdaq Composite includes all stocks listed on the Nasdaq Stock Market — the first electronic stock exchange.

Persons: you'll, Tesla, Dow, Nvidia — Organizations: Nasdaq, Dow, CNBC, Dow Jones Industrial, P, Dow Jones, Wall Street Journal . Companies, Apple, Microsoft, Nvidia Locations: lockstep, U.S

☆ UK inflation rate slides to 7.9% in June, below expectations
▼ + stars: | 2023-07-19 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

LONDON — U.K. inflation cooled significantly in June, coming in below consensus expectations at 7.9% annually. On a monthly basis, headline CPI increased by 0.1%, below a consensus forecast of 0.4%. Falling prices for motor fuel made the largest downward contributions to the monthly change in the CPI annual rate, the Office for National Statistics said Wednesday. Food prices rose in June, but by less than in the same period of last year. Chief Secretary to the Treasury John Glen told CNBC on Wednesday that the larger-than-expected decline in the inflation rate was "very encouraging."

Persons: Sterling, John Glen Organizations: Reuters, Bank of England's, National Statistics, CNBC, Treasury, Bank of England Locations: London, lockstep

☆ NDAA: McCarthy faces challenge for passing defense bill after
▼ + stars: | 2023-07-14 | by ( Haley Talbot | ) edition.cnn.com time to read: +3 min

CNN —House Speaker Kevin McCarthy faces a challenge Friday morning: A razor thin margin to get a must-pass defense policy bill over the finish line with a majority of Democrats signaling they cannot support the version of the legislation crafted by conservative Republicans. The bill – known as the National Defense Authorization Act – sets the policy agenda and authorizes funding for the Department of Defense. If they lose that many members, it would greatly increase the prospects that Republicans could muscle the bill through. Without Democratic support, Republicans will need to wrangle nearly every member of the GOP conference in order to get the bill over the finish line. Many Democrats made clear ahead of the vote that if the amendment was included as part of the defense bill, they would be unlikely to support final passage.

Persons: Kevin McCarthy, Ralph Norman, GOP Sen, Tommy Tuberville, Lauren Boebert’s, Marjorie Taylor Greene Organizations: CNN —, Republicans, National Defense, Department of Defense, Democratic, GOP, Rep, Republican Locations: lockstep, South Carolina, Colorado, Ukraine, Georgia

☆ China and Taiwan loom large behind Ukraine at NATO summit
▼ + stars: | 2023-07-11 | by ( Brad Lendon | ) edition.cnn.com time to read: +6 min

Seoul, South Korea CNN —The presence of four Asia-Pacific leaders at the NATO summit this week suggests that Ukraine is not the only major security issue on the agenda of the European-North American defense alliance. For its part, China says Taiwan is an internal matter and it sees no role for countries in the region, let alone NATO members, to be interfering. Japanese Prime Minister Fumio Kishida waves before departing on a government plane on July 11, 2023, for the NATO summit. US President Joe Biden meets with NATO Secretary General Jens Stoltenberg in the Oval Office of the White House on June 13, 2023. “NATO is a regional alliance of Europe and North America, but the challenges we face are global,” he wrote, noting the summit invitations for the Pacific leaders.

Persons: Jens Stoltenberg, ” Stoltenberg, ”, “, Wang Wenbin, Fumio Kishida, Yoon Suk Yeol, Anthony Albanese, Chris Hipkins, Fumio, Stoltenberg, Joe Biden, Kim Sun, Yoon, Alex Wong, Emmanuel Macron, Boris Pistorius Organizations: South Korea CNN, NATO, Foreign Affairs, Communist Party, Communist, Foreign, CNN, Japanese, Australian, New Zealand, Pacific ., Kyodo, US Institute of Peace, Pacific, White, South Korean, White House, NHK, Pacific . British, German Locations: Seoul, South Korea, Asia, Pacific, Ukraine, Beijing, China, Taiwan, Japan, Europe, South, Vilnius, Lithuania, “, lockstep, Paris, North American, France, Tokyo, North America, Guam, Canadian, American, Berlin

☆ Qatar Airways reports record revenues, bolstered by FIFA World Cup
▼ + stars: | 2023-07-06 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +1 min

Qatar Airways announced record annual revenue Thursday after the company's finances were bolstered by the FIFA World Cup, which was hosted in Qatar last year. Qatar Airways Group reported that passenger revenue was up 100% during its fiscal year 2022/23, with overall revenue up to 76.3 billion Qatari riyals ($21 billion). A total of 31.7 million passengers flew with Qatar's flagship carrier in the last year, which was up 71% compared to the previous year. The World Cup provided a considerable boost to Qatar's passenger figures, with the airline transporting 1.4 million passengers to the event. Qatar Airways received a $1.95 billion government bailout in September 2020 after the state-owned group reported annual losses of more than 50% of its share capital.

Organizations: Qatar Airways, FIFA, Qatar Airways Group, Qatar's, Emirates, Ryanair, British Airways Locations: Qatar, lockstep

☆ Opinion: Whatever happened to Mutually Assured Destruction?
▼ + stars: | 2023-07-06 | by ( David A. Andelman | ) edition.cnn.com time to read: +8 min

On June 14, Belarus President Alexander Lukashenko announced that his country had taken delivery of the first of a collection of tactical nuclear weapons from Russia. Belarus has both a nuclear arsenal and a president who for decades has quietly played the role of Putin’s lap dog. And indeed, in a press conference Thursday in Minsk, he did claim to being in lockstep with Putin — adding that the nuclear weapons were for defensive purposes only. In the same press conference, Lukashenko nodded to the fact that those nuclear weapons were under Russia’s control. “In the early ’60s American officials worried that the Soviet Union would launch a less-than-all-out attack, reasoning that the US would not respond in a way that might trigger Armageddon,” he said.

Persons: David A, David Andelman, Bill Clinton, Boris Yeltsin, Ukraine’s Leonid Kuchma, Alexander Lukashenko, Putin, Lukashenko nodded, “, Joe Biden, Jens Stoltenberg, Kaja Kallas, Stoltenberg, nukes, Izumi Nakamitsu, Donald Trump, Biden, Vladimir Putin, Antony Blinken, crouch, ” Michael Mandelbaum, ”, Mandelbaum, – Vladimir Putin, hewing Organizations: CNN, French Legion of, The New York Times, CBS News, Soviet Union, Warsaw, David Andelman CNN, NATO, Belarus, Ukraine, Security Council, Nuclear Forces, Treaty, Twitter, Facebook, Johns Hopkins School, International, American Foreign, Power, MAD Locations: Russia, Europe, Soviet, Ukraine, Soviet Union, Crimea, Belarus, Hiroshima, Nagasaki, Minsk, lockstep, Vilnius, Lithuania, Brussels, Moscow, Russian

☆ Trump and DeSantis, once pandemic allies, are now gaslighting each other over Covid
▼ + stars: | 2023-07-02 | by ( Steve Contorno | ) edition.cnn.com time to read: +8 min

Though steadfast allies throughout much of the pandemic, Trump and DeSantis, as presidential primary rivals, agree on very little about what transpired during one of the most trying periods in their respective tenures in leadership. Unsaid in the ad was that DeSantis had repeatedly praised Fauci early in the pandemic, calling him “really, really good and really, really helpful” and “really doing a good job.” A CNN KFile review found Trump began harshly criticizing Fauci much earlier than DeSantis. Trump has dismissed the conservative back-slapping of DeSantis’ handling of the pandemic, insisting the governor’s performance wasn’t all that great. By preemptively attacking DeSantis’ pandemic policies, Trump, too, appears aware that voters could see his top rival as stronger on the issue. The shift became an early fault line in the fracturing relationship between Trump and DeSantis.

Persons: Donald Trump, Ron DeSantis –, Trump, Anthony Fauci, DeSantis “, Fauci, ”, DeSantis, Ron, “, Andrew, Cuomo, ” Trump, ” DeSantis, shutdowns, it’s, Steve Sisolak’s, Steve Sisolak, “ You’re, OAN, they’re Organizations: CNN, Florida Gov, GOP, New, Concord, Twitter, Trump’s, National Institute of Allergy, Trump, Florida, DeSantis, Republicans, New York Democratic, Republican, Gallup, Las Vegas, Democratic, Fox News, Food and Drug Administration, “ Fox, Friends Locations: New Hampshire, Hollis, lockstep, Florida, Nevada

☆ Opinion: The Supreme Court rewrites American society once again
▼ + stars: | 2023-06-30 | by ( Opinion Cnn Contributors | ) edition.cnn.com time to read: +25 min

But learning the facts - that affirmative action is critical for fostering equal access and opportunity in our academic institutions -cemented my belief that affirmative action is necessary if we want to create an equitable nation. The court’s decision Thursday is consistent with its view that race-based preferences should and would have a limited shelf life. Jon Wang, who revealed himself as a plaintiff in this Supreme Court case, was rejected by Harvard but was accepted at and is now attending Georgia Tech. Affirmative action enabled my ability to experience different ways of thinking and to form the lasting friendships I have made. Affirmative action has been a tool used by many countries to ensure underrepresented communities are included in areas they normally are not.

Persons: who’d, Tan, ”, Ana Fernandez, Richard Kahlenberg, Peniel Joseph, Peniel Joseph Kelvin Ma, Kelvin Ma, retrenchment, Bakke, Shelby, Holder, John F, Barry Goldwater, Richard Nixon, Ronald Reagan, Peniel, Joseph, Barbara Jordan, “, ” Lanhee Chen, Bollinger, Sandra Day O’Connor, Lanhee Chen Lanhee J . Chen, J, Chen, David, Diane Steffy, Romney, Ryan, Roxanne Jones, Andrew Johnson, Jones, WURD, Richard Sander, –, Richard Sander Fiona Harrison, Jeff Yang, Ed Blum’s, Jon Wang, Michael Wang, Williams, Jian Li, Bruce, Hudson Yang, Natasha Warikoo, Ketanji Brown Jackson, ” Natasha Warikoo Alonso Nichols, John Roberts, Brayden Rothe, Biden, can’t, Joe Biden, Brayden Rothe Patrick O'Leary, Pell Organizations: CNN, Fellows of Harvard College, Harvard, Harvard College, Cuban, American Council, Education, Wellesley College, Renaissance Studies, Black, Tufts University, Blacks, Ivy League, Federalist Society, John Birch Society, Trump, Democratic Party, GOP, Center, LBJ School of Public Affairs, University of Texas, Racial Justice, University of North, University of North Carolina Chapel, Public Policy, Hoover Institution, California State, Republican, Democratic, White, Fair, Supreme, ESPN The Magazine, ESPN, New York Daily News, Philadelphia Inquirer, The University of California, UCLA, University of California, UC, Georgia Tech, Department of Education, Princeton, Yale, Stanford, Princeton University, Institute for, Digital Intelligence, Harvard University, College, Social Sciences, of Sociology, Equity, University of Minnesota Locations: today’s, Philippines, Taiwan, Los Angeles, Portland, White, American, United States, West Linn , Oregon, Cuban American, Miami, Havana, Cuba, Miami , Florida, America, Austin, University of North Carolina, California, lockstep, Berkeley, Asian America, Florida, Texas

☆ What could break as interest rates rise?
▼ + stars: | 2023-06-29 | by ( ) www.reuters.com time to read: +5 min

Sweden, where rates rose again on Thursday, is one to watch with most homeowners' mortgages moving in lockstep with rates. Reuters Graphics2/ REAL ESTATE: PART 2Having taken advantage of the low rates era to borrow aplenty and buy up property assets, the commercial real estate sector is grappling with higher debt refinancing costs as rates rise. "The single most important thing is interest rates. But not just interest rates; what it is equally important is the predictability of rates," said Thomas Mundy, EMEA head of capital markets strategy at real estate firm JLL. "If we were settled on an interest rate, real estate prices could adjust.

Persons: Richard Portes, Thomas Mundy, Banks, Florian, Ielpo, Jerome Powell, Markus Allenspach, Julius Baer, Nick Kraemer, Wagner, Vladimir Putin's, Putin, Tina Fordham, Chiara Elisei, Naomi Rovnick, Nell Mackenzie, Karin Strohecker, Vincent Flasseur, Kripa Jayaram, Sumanta Sen, Pasit, Dhara Ranasinghe, Alison Williams Organizations: International Monetary Fund, Reuters, Federal, Finance, London Business School, Lombard, Federal Reserve, Casino, Sweden's SBB, Fordham Global Foresight, Thomson Locations: Britain, Norway, Russia, Sweden, lockstep, London's, City, RUSSIA, Ukraine

☆ Opinion: The Supreme Court justices picked by Trump were bad. DeSantis would be much worse.
▼ + stars: | 2023-06-27 | by ( Opinion Duncan Hosie | ) edition.cnn.com time to read: +9 min

DeSantis has appointed far more extreme justices to the Florida Supreme Court than Trump did to the US Supreme Court. But DeSantis’ appointees to the Florida Supreme Court embrace the Thomas-Alito wing of the organization. DeSantis’ appointees, in contrast, have jumped at entrenching conservative electoral domination and curtailing Black political power. Imitating Thomas and Alito, DeSantis’ appointees have rushed into gratuitous political controversies, writing opinions heavy on theory and light on practicality. Thomas and Alito are in this vanguard, as are DeSantis’ appointees and some of Trump’s lower court appointees, with which DeSantis is aligned.

Persons: Duncan Hosie, Ron DeSantis, Donald Trump, Hugh Hewitt, DeSantis, Clarence, Thomas, Samuel, Alito, ” Duncan Hosie, –, Trump, Neil Gorsuch, Brett Kavanaugh, Amy Coney Barrett, George H.W, Bush, George W, Brackeen, Barrett, Kavanaugh, Gorsuch, decisis, – Thomas, Thomas ’, Wade, – Carlos Muñiz, John Couriel, Jamie Grosshans, Renatha Francis, Meredith Sasso, they’ve, Barrett aren’t, Roe, DeSantis playbook, DeSantis ’, Biden, Alito’s, Smith, He’s, ”, groupthink, It’s, Trump’s, haven’t Organizations: New York Times, Washington Post, Street, CNN, Florida Gov, Republican, Trump, Florida Supreme, Detroit, of Education, –, Oregon, Federalist Society, Covid, Employment, today’s, Federalist, Twitter Locations: Florida, Alabama, Black, City of Philadelphia, lockstep

LONDON, June 16 (Reuters) - The pound was set for its biggest weekly rise in six months on Friday after days of economic data and central bank rate decisions, and ahead of the Bank of England's monetary policy meeting next week. It was up 1.72% since Monday, the biggest weekly increase since early December. "Tuesday's labour market data led Bank rate expectations to spend much of that evening flirting with a terminal (peak) rate closer to 6%," said Nicholas Rees, FX market analyst at Monex Europe. Reuters GraphicsHe said U.S. economic data released on Thursday, which showed weekly jobless claims were higher than expected last week, also helped boost sterling by weighing on the dollar. Sterling rose to its highest level against the yen in eight years following the BoJ's announcement, at 180.83 yen to the pound.

Persons: Nicholas Rees, Rees, Sterling, BoE, they're, Ben Laidler, Farouq Suleiman, Harry Robertson, Angus MacSwan Organizations: Bank, Analysts, Bank of England, FX, Monex, European Central Bank, Bank of Japan, ECB, U.S . Federal, Nationwide Building Society, Thomson Locations: Monex Europe, lockstep, Britain

☆ China central bank seen cutting medium-term policy rate: Reuters poll
▼ + stars: | 2023-06-14 | by ( ) www.reuters.com time to read: +2 min

SHANGHAI/SINGAPORE, June 14 (Reuters) - China's central bank is widely expected to cut the borrowing cost of medium-term policy loans for the first time in 10 months on Thursday, after it lowered two key short-term policy rates, a Reuters poll showed. China remains an outlier among global central banks as it loosens monetary policy to shore up a stalling recovery but further rate cuts will widen the yield gap with U.S. assets and risk greater outflows. The MLF rate serves as a guide to the benchmark loan prime rate (LPR), and markets usually use the medium-term rate as a precursor to any changes to the lending benchmark. Looking ahead, we expect another 10bp cut in the MLF rate in 3Q23." The PBOC last cut the MLF rate in August 2022 to prop up the broad economy disrupted by stringent zero-COVID measures.

Persons: Ting Lu, Larry Hu, Wu Fang, Winni Zhou, Tom Westbrook, Jacqueline Wong Organizations: People's Bank of China, Nomura, Macquarie, Thomson Locations: SHANGHAI, SINGAPORE, China, lockstep

☆ Republican response to Trump indictment shows they're stitching their own straitjacket
▼ + stars: | 2023-06-13 | by ( Ronald Brownstein | ) edition.cnn.com time to read: +14 min

The roar of outrage from Republican leaders to that indictment restored Trump’s grip on the party after frustration over his role in the GOP’s disappointing 2022 midterm elections had loosened it. Repeating the pattern from other moments of maximum threat to Trump, the GOP response has been marked by a pronounced communications imbalance. (The poll was conducted after Trump’s indictment in Manhattan but before the recent federal charges.) At another point Trump insisted, “These criminals cannot be rewarded” – presumably by frightening Republican voters away from nominating him. Yet, Robinson believes, by echoing Trump’s claims of unfair treatment, the other candidates are encouraging Republican voters to accept his framing of the race.

Persons: Donald Trump’s, Trump, Kevin McCarthy, South Carolina Sen, Lindsey Graham, Trump’s, Chris Christie, Asa Hutchinson, –, William Barr, John Bolton, John Thune –, ”, he’s, Ruth Ben, Ghiat, thrall, “, “ Strongmen, Mussolini, Silvio Berlusconi, Berlusconi, machina, Bill Kristol, Jack Smith, Fani Willis –, Dave Wilson, Craig Robinson, “ Donald Trump, Joe Biden, Jennifer Horn, ” –, “ They’ve, Donald Trump, ” Robinson, Robinson, Asa Hutchison, ” Kristol, Biden, Nikki Haley –, Mike Pence, Pence, she’s, ” Ben Organizations: CNN, Republican, Trump, GOP, Marxist, Republicans, NPR, PBS, Marist, Whites, CBS, Forza Italia, New York University, District, Iowa Republican Party, New, Georgia GOP, “, Trump “ Locations: Manhattan, South Carolina, lockstep, Fulton County , Georgia, New Hampshire, Georgia, America, Thune, Trump, Trump’s, South Africa, Chile

☆ Biden set to host Rishi Sunak for British PM’s first White House visit
▼ + stars: | 2023-06-08 | by ( Kevin Liptak | ) edition.cnn.com time to read: +7 min

Stability in 10 Downing Street has allowed for better coordination on Ukraine, according to officials, and helped resolve a festering dispute over Northern Ireland trade rules. Ahead of the visit, Sunak cast his economic objectives as directly linked to the security agenda. When Biden met Sunak in San Diego earlier this year, he made reference to the condo the Stanford MBA graduate maintains in California. Yet that meeting was only a brief chat over tea; Biden spent most of his visit to Ireland exploring his ancestral roots. Sunak has been lobbying for the British defense secretary Ben Wallace, but other candidates are also thought to be under consideration.

Persons: Rishi Sunak, Joe Biden, Sunak’s, Sunak, ”, He’s, “, Donald Trump, Biden, ” Biden, Few, Ronald Reagan, Margaret Thatcher, George W, Bush, Tony Blair, Barack Obama, David Cameron, bro ”, Biden’s, Thatcher, Boris Johnson, Liz Truss, Ben Wallace Organizations: CNN, United, Prime, Sky News, US, Russia, Britain, British, EU, Stanford, European Union, Group, White House, Biden, Northern Ireland, Downing Locations: Ukraine, Northern Ireland, Russia, Nova, Thursday’s, Washington, Ukraine’s Kherson, Europe, Silicon Valley, lockstep, London, San Diego, California, Britain, Japan, Belfast, Northern, Ireland

☆ A top Wall Street investment strategist breaks down why stocks are setting up for a 22% drop in the second half of the year — and shares 2 signs that show a recession is likely
▼ + stars: | 2023-06-03 | by ( William Edwards | ) www.businessinsider.com time to read: +6 min

Piper Sandler's Michael Kantrowitz says a recession is hurtling toward the US economy. He pointed to stocks falling in lockstep with rising unemployment claims in 2007, 2000, 1990, 1981, 1973, and 1969. Today, investors are again doing a poor job of forecasting rising unemployment claims in the months ahead, Kantrowitz believes. Underpinning Wilson's call is an earnings recession this year that investors aren't pricing in. "We first started talking about the coming earnings recession a year ago and received very strong pushback, just like today.

Persons: Piper Sandler's Michael Kantrowitz, Kantrowitz, Michael Kantrowitz doesn't, Piper Sandler, it's, Louis, Greg Boutle, Cantor Fitzgerald's Eric Johnston, Venu Krishna, Morgan Stanley's Mike Wilson, Wilson, Albert Edwards Organizations: Energy, Survey, Federal Reserve Bank of St, BNP, Barclays, Conference, Board, National Federal, Independent, of Labor Statistics, Generale's Locations: lockstep

☆ Casey DeSantis' mission on the 2024 campaign trail is to bring suburban women back to the GOP after Trump lost them
▼ + stars: | 2023-05-30 | by ( Kimberly Leonard | ) www.businessinsider.com time to read: +16 min

Ron DeSantis' wife, Casey DeSantis, is a chief confidant key to his political rise. He finished boasting about his "Florida Blueprint," and then his wife, Florida first lady Casey DeSantis, glided onstage. In the geography was Casey DeSantis' autobiography: raised in Troy, Ohio, and college-educated at the University of Charleston. As Florida's first lady, Casey DeSantis' initiatives included childhood emotional resiliency, child welfare, and — as a breast-cancer survivor herself — cancer research. "They did not want woke ideology shoved down the throats of their five years olds while they were in school," Casey DeSantis said.

☆ The DeSantis campaign will test whether Casey DeSantis can bring suburban women back to the GOP after Trump lost them
▼ + stars: | 2023-05-27 | by ( Kimberly Leonard | ) www.businessinsider.com time to read: +16 min

☆ The Supreme Court’s Pork Chops
▼ + stars: | 2023-05-10 | by ( The Editorial Board | ) www.wsj.com time to read: 1 min

Images: AP/Getty Images Composite: Mark KellyWho says the Supreme Court marches in ideological lockstep? On Thursday a mixed majority upheld a California regulation that imposes enormous burdens on out-of-state pig farmers and carves up interstate commerce. The result will not be more constitutional clarity. At issue in National Pork Producers Council v. Ross was California’s 2018 voter-approved initiative establishing minimum confinement standards for farm animals sold as meat in the state. Compliance costs would fall almost entirely on out-of-state pork producers since about 99.9% of the nation’s pigs are raised outside California.

☆ Is this solar panel American? Companies eyeing US subsidy await rules
▼ + stars: | 2023-04-24 | by ( Nichola Groom | ) www.reuters.com time to read: +4 min

[1/2] Solar panels are set up in the solar farm at the University of California, Merced, in Merced, California, U.S. August 17, 2022. Their main question: will solar panels qualify if they are assembled in the United States using components made overseas? In February, top U.S. solar manufacturer First Solar Inc (FSLR.O) said it would delay further expansion decisions until Treasury releases its guidelines. A manufacturing group, Solar Energy Manufacturers for America (SEMA), said both manufacturers and developers want clear rules that will fuel growth. A potential approach could be to allow the bonus credit to apply to domestically available goods, with that standard changing over a set timeline.

☆ 'DONE WITH FOX': Right-wing pundits, politicians, and influencers (and Glenn Greenwald) rage against Fox News after it parts ways with Tucker Carlson
▼ + stars: | 2023-04-24 | by ( Nicholas Carlson | ) www.businessinsider.com time to read: +3 min

Tucker Carlson and Fox News parted ways Monday. "I think that'll kill Fox," Glenn Beck said during his streaming show . "Wherever Tucker Carlson goes, America will follow!" Eric's brother Donald Trump Jr. was also upset:Starting midday Monday, the phrase "DONE WITH FOX" started to trend on Twitter. — Glenn Greenwald (@ggreenwald) April 24, 2023

[1/2] Tide laundry detergent is shown on display in Compton, California, U.S., January 10, 2017. Fabric and family care, which includes the paper products, are among the company's biggest businesses. P&G's margins, a key sign of profitability investors closely watch, could take a hit if the company continues with heavier discounts. “Tide is who we would benchmark, and we’re seeing more discounts with them, and the category at large among bigger players.”Whritenour added that discounts are now deeper and more competitive. Market research firm Circana is forecasting discounts will continue to grow this year across household products as consumers face a darkening economic situation.

☆ Crypto stocks rally after bitcoin breaks above $30,000 to hit a 10-month high
▼ + stars: | 2023-04-11 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

Crypto-related stocks rose Tuesday after bitcoin broke above $30,000 to hit a 10-month high. Bitcoin miners Marathon Digital and Riot Platforms also edged higher in early-morning trading, having logged double-digit gains the previous trading session. Amplify's Transformational Data Sharing ETF, which tracks crypto stocks, has outperformed in 2023. The crypto stocks logged gains Monday even as the Nasdaq Composite — which tracks the tech sector more broadly but tends to move in lockstep with bitcoin — closed 0.03% lower. Read more: Bitcoin's nearing a breakout moment — prices topped $30,000 for the first time since June 2022

☆ Influencers could get their own White House briefing room as part of Biden's strategy to reach younger voters for 2024, Axios reports
▼ + stars: | 2023-04-10 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +3 min

Influencers may get a briefing room apart from the White House Press Briefing Room, per Axios. It's part of the Biden Admin's strategy to reach young voters who may not rely on mainstream news. Relying on an influencer's reach could also be part of President Joe Biden's strategy to reach younger voters ahead of the 2024 campaign. The Biden Administration has four staffers — not part of the Biden campaign — who will connect with influencers and independent content creators, Axios reported. A White House spokesperson did not immediately respond to a request for comment.

☆ Missouri officials refuse to work with the Bureau of Alcohol, Tobacco and Firearms, saying all federal 'so-called' gun laws are unconstitutional
▼ + stars: | 2023-04-09 | by ( Katie Balevic | ) www.businessinsider.com time to read: +3 min

Officials in Camden County, Missouri are refusing to cooperate with the ATF, according to local reports. Officials cited a since-struck-down state law that kept police from enforcing federal gun laws. Six top elected officials in Camden County signed a letter to the ATF saying as much, according to NPR affiliate KCUR 89.3. Last month, a federal judge struck down the 2021 law, which prohibited local police from enforcing federal gun laws, calling it "invalid, null, void, and of no effect." "Any and all federal firearms laws, so-called laws, in my opinion, and many others' opinion, are unconstitutional," Skelton told KCUR.

The Federal Reserve slows inflation by raising the federal funds rate, which can indirectly impact mortgages. The Fed and mortgage rates frequently asked questionsDo mortgage rates go up when the Fed raises rates? Mortgage rates may decrease when the Fed cuts the federal funds rate, but again, this depends on other economic trends. No, mortgage rates aren't tied to the Federal Reserve's federal funds rate. If you have a fixed-rate mortgage, your mortgage rate will stay the same until you sell your home, refinance your mortgage, or pay off the loan in full.

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