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Persons: you've, you’ve, Cardholders, It's, cardholders, you'll Organizations: Discover, Reading Chevron, Wholesale, PayPal, American Cancer Society, Children's Miracle Network, Diabetes Research Foundation, World Wildlife Fund, JCB, U.S, Bank Locations: Japan, skylines

☆ Middle Eastern investors are pouring money into US media, sports, and entertainment — here are the 9 most active players and their key leaders
▼ + stars: | 2023-06-05 | by ( Lucia Moses | Claire Atkinson | ) www.businessinsider.com time to read: +10 min

Investors in Saudi Arabia, Qatar, and United Arab Emirates are pouring money into Western media and entertainment. Sovereign funds and other entities in Saudi Arabia, Qatar, and the UAE are pouring millions into US media and entertainment, and they're finding plenty of takers. The channels for money from Saudi Arabia and other parts of the Middle East are complex. Insider broke down the key entities — their owners, leaders, and high-profile investments and joint ventures — in the top three Middle Eastern nations pouring money into US entertainment and media. It describes itself as the largest media company in the Middle East and North Africa and runs one of the largest TV news channels, Al Arabiya.

Persons: Jamal Khashoggi's, Saudi Crown Prince Mohammed bin Salman, —, WME, Jimmy Finkelstein's, Abu Dhabi's, It's, Yasir Al, Rumayyan, Waleed bin Ibrahim Al Ibrahim, Sam Barnett, Peter Smith —, Christina Wayne, SRMG, Mohammed bin Salman, Alrashid, Johnny Depp, Jeanne du Barry, Sharon Stone, Bruno Mars, Luca Guadanigno, Vince McMahon's, Turki Al, Mohammed bin Abdulrahman bin Dayel, Mansoor bin Ebrahim Al, Mahmoud, Peter Chernin, Nasser Al, Germain, BeIN, Sheikha Al Mayassa bint Hamad, Khalifa Al, Vincent, Asghar Farhadi's Oscar, Nart Bouran, JAF, Jeff Zucker, Graydon Carter's, it's, Semafor, Sheikh Mansour bin Zayed Al Nahyan, Sheikh Mansour, Sultan Ahmed Al Jaber Organizations: United, Sovereign, Saudi, Washington Post, Saudi Crown, Endeavor, UFC, IMI, Abu Dhabi Media Investment Corporation, Public Investment Fund, Saudi Aramco, Newcastle United, English football, PGA, MBC, Shahid, Netflix, Vice Media, Variety, MBC Group's, Antenna Group, Cineflex Studios, NBCUniversal International, Amazon, AMC, Saudi Research, Media, Publicly, Red Sea, Cannes, Penske Media Corporation, Bloomberg Media, Vince McMahon's WWE, country's General Entertainment Authority, Development, Cultural Development Fund, George Washington University, American University . Qatar Qatar Investment, Qatar Investment Authority, Providence, BeIN Media, Paris Saint, Miramax, Paramount, Doha Film, Doha Film Institute, H.E, Hollywood Reporter, United Arab Emirates Abu, Investment Authority, UAE, Abu, Abu Dhabi Investment Authority, Hollywood, Dubai Studio, Dubai Media City, National Geographic, BBC News, International Media Investments International Media Investments, National, CNN, Sky News Arabia, Reuters, JAF Communications, Grid, RedBird Capital Partners, Punchbowl News, New York Times, Manchester City, The, Abu Dhabi National Oil Company Locations: Saudi Arabia, Qatar, United Arab Emirates, UAE, Saudi, East, North Africa, Al Arabiya, Netherlands, Greece, Dubai, Jeddah, SRMG, Riyadh, Doha, Europe, Americas, ViacomCBS, Qatari, Thani, Abu Dhabi

☆ 10 things Wall Street summer interns should know to snag a return offer, including how to fill the downtime and when it's not OK to go out for lunch
▼ + stars: | 2023-06-04 | by ( Emmalyse Brownstein | ) www.businessinsider.com time to read: +13 min

Wall Street's summer internship season is finally here — and the competition will be fierce. "I wouldn't be surprised if it's 70% or even less," he said of the return offer rates at the end of the summer. At the end of the summer, they may help determine who gets a return offer. "People just didn't know him, so they didn't have an opinion on him when they were making the decision about the return offer. "Assuming business professional-dressed student A and business casual-dressed student B perform equally well on the job, student A would be more likely to receive the return offer," Sibley said.

Persons: it's, Steve Sibley, They're, Sibley, don'ts, Goldman Sachs, David S, Holloway, Asif Rahman, Rahman, you'll, doesn't, I've, Gucci loafers, you've, You've Organizations: Indiana University's Kelley School of Business, Google, Wall Street Locations: New York City, San Francisco, snagging, dealmaking

☆ Inside CNN's epic PR fail that made a mockery of CEO Chris Licht
▼ + stars: | 2023-06-04 | by ( Nicholas Carlson | ) www.businessinsider.com time to read: +10 min

The Atlantic published a really tough article about CNN CEO Chris Licht. The disaster I'm referring to is Tim Alberta's devastating profile of CNN chair and CEO Chris Licht published Friday. And maybe, the story suggests, that's because that big idea is not really Licht's plan at all but one foisted on him by his boss, Warner Bros. Through the summer, Alberta and Licht and CNN comms people talked about what the story might look like. A handful of sources tell me Kelly was skeptical of whether this was a good idea, Dornic was happy to do whatever, and Licht really, really wanted to do it.

Persons: Chris Licht, CNN's goof, Tim Alberta's, Licht, Licht hasn't, Warner, David Zaslav, Zucker, Jeff Zucker, I've, I'm, Kris Coratti Kelly, Kelly, Matt Dornic, Dornic, Hugo, Evan Agostini, isn't, Michael Eisner, James B, Stewart, Eisner, Stewart's, Tim Alberta, Nikki Haley, Don Lemon, he'd, it's, that's, It's, wasn't, Zaslav Organizations: CNN, Trump Town Hall, Warner Bros, Discovery, Journalism, Licht, Global Communications, American Museum of, Disney, Alberta, Trump, Atlantic Locations: Alberta, Manhattan

☆ These ‘all weather’ best-in-class stocks are a must-own as summer nears, Morgan Stanley says
▼ + stars: | 2023-06-03 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Morgan Stanley named a slew of must-own stocks this week that the firm said are firing on all cylinders ahead of summer. They include Bath & Body Works , Take-Two Interactive, RBC Bearings, Thermo Fisher Scientific and American Express. RBC Bearings "[The] growth story remains intact," analyst Kristine Liwag said of the aerospace and industrial bearings maker. "We continue to view RBC Bearings as a high-quality industrials compounder with attractive growth and margin expansion potential," she wrote. … We continue to view RBC Bearings as a high-quality industrials compounder with attractive growth and margin expansion potential.

Persons: Morgan Stanley, Morgan, Matthew Cost, he's, Kristine Liwag, Liwag, Alex Straton, BBW, Straton, mgmt, Amex hasn't Organizations: CNBC, Body, Interactive, RBC, Fisher Scientific, American Express, Dodge Industrial, … Locations: Biopharma

☆ Nasdaq hits 13-month high as investors look ahead to OPEC+ meeting and Apple headset event
▼ + stars: | 2023-06-03 | by ( Zev Fima | ) www.cnbc.com time to read: +6 min

It was a strong week for all three major stock indices, with the market bolstered Friday by strong jobs data and a deal in Washington to raise the U.S. debt ceiling. The S & P 500, the Nasdaq and the Dow Jones Industrial Average all finished the week roughly 2% higher. While Friday's rally broadened out beyond just the usual tech stocks, the Nasdaq ended Friday at its highest level since April 2022. This is the key data to look out for in the week ahead: Monday, June 5 9:15 a.m. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: payrolls, Biden, Investors, we've, Joann, JOAN, Ferguson, JM Smucker, Buster's, Campbell Soup, OLLI, Friday's, Jim Cramer's, Jim Cramer, Jim, Anna Moneymaker Organizations: U.S . Labor Department, Nasdaq, Dow Jones Industrial, Organization of Petroleum, Monday Club, Apple, PMI, THOR Industries, ABM Industries, Academy Sports, Ciena Corp, Foods, GameStop, Signet Jewelers, SIG, Company, Brands, Vail Resorts, MTN, Labor, Federal Reserve, U.S, West Texas, Treasury, Jim Cramer's Charitable, CNBC, Capitol, Getty Locations: Washington, OPEC, Vienna, China, U.S, Washington , DC

☆ Biden’s Debt Deal Strategy: Win in the Fine Print
▼ + stars: | 2023-06-03 | by ( Jim Tankersley | ) www.nytimes.com time to read: +2 min

Mr. Biden had insisted for months that he would not negotiate over raising the borrowing limit. But privately, many aides had been planning on talks all along — though they refused to admit those talks were linked to the debt limit. The Biden team reasoned that it would have to negotiate fiscal issues this year anyway, both on appropriations bills and on programs like food stamps that are included in a regularly reauthorized farm bill. It featured work requirements and measures to speed fossil fuel projects, and it raised the debt limit for one year. Mr. Biden, under fire from business groups and others who feared the standoff could result in the United States running out of money before the debt limit was raised, soon agreed to designate a team of negotiators.

Persons: Biden, Lael Brainard, Janet L, McCarthy, Young, Michael Linden, Louisa Terrell, Ricchetti Organizations: Biden, National Economic Council, Social Security, White House Locations: United States

☆ Biden’s Debt-Deal Strategy: Win in the Fine Print
▼ + stars: | 2023-06-03 | by ( Jim Tankersley | ) www.nytimes.com time to read: +2 min

In pursuit of an agreement, the Biden team was willing to give Republicans victory after victory on political talking points, which they realized Mr. McCarthy needed to sell the bill to his conference. But in the details of the text and the many side deals that accompanied it, the Biden team wanted to win on substance. With one large exception — a $20 billion cut in enforcement funding for the Internal Revenue Service — they believe they did. The way administration officials see it, the full final agreement’s spending cuts are nothing worse than they would have expected in regular appropriations bills passed by a divided Congress. But because much of the money was repurposed for other spending, the net savings added up to only about $11 billion over two years.

Persons: Biden, McCarthy, McCarthy’s, — Organizations: Internal Revenue, — White, Biden

☆ Boycotts hit stocks hard. Here's what might be next for Bud, Target and others caught in the anti-Pride backlash
▼ + stars: | 2023-06-03 | by ( Christina Cheddar Berk | ) www.cnbc.com time to read: +9 min

Stock Chart Icon Stock chart icon Anheuser-Busch InBev shares hit a 52-week high of $67.09 on March 31. Bud Light has tried to win back customers with a $15 off rebate program on Budweiser, Bud Light, Bud Select and Bud Select 55. Stock Chart Icon Stock chart icon Target's stock hit a 52-week low on Thursday. Stock Chart Icon Stock chart icon VF Corp. shares traded as low as $16.77 on Thursday. Stock Chart Icon Stock chart icon Kohl's shares on Thursday hit a low of $17.89, the stock's lowest level since May 22, 2020, when it traded as low as $17.19.

Persons: BUD TGT, Justin Sullivan, Bud Light, Dylan Mulvaney, Pattie Gonia ., it's, Brayden King, Cowen, Vivien Azer, Miller, Azer, Bud, Brandon Bell, King, Sarah Kate Ellis, recouping, Christopher Horvers, Horvers, Wells, Edward Kelly, Kelly, Americus Reed Organizations: TAP, Anheuser, Busch, Target, VF Corp, North, Pride, Busch InBev, Coors, Molson Coors, Lite, Bud, Budweiser, Walmart, Bud Light, Companies, GLAAD, JPMorgan, Americus, University of Pennsylvania Locations: San Francisco , California, Austin , Texas, Wells Fargo

☆ Dollar sags as Fed bets ebb, debt bill passes; Aussie soars
▼ + stars: | 2023-06-02 | by ( Kevin Buckland | ) www.reuters.com time to read: +3 min

The Australian dollar surged after an increase in the minimum wage stoked bets for the central bank to raise rates again next week. A day earlier, Fed Governor Philip Jefferson had said that "skipping a rate hike at a coming meeting would allow the committee to see more data before making decisions about the extent of additional policy firming." "Maybe they hike in June, maybe in July, or maybe they don't hike any more." Money markets currently see about 29% odds of a hike, down from near 70% earlier in the week. Traders currently lay about one-third odds on a quarter-point rate hike on Tuesday.

Persons: Patrick Harker, Philip Jefferson, Shinichiro Kadota, Christine Lagarde, Joe Biden, Monday's, Ray Attrill, NAB's, Kevin Buckland, Sam Holmes Organizations: U.S, Federal Reserve, Australian, Philadelphia Fed, Barclay, European Central Bank, National Australia Bank, Traders, Thomson Locations: TOKYO, U.S, Tokyo

☆ Fed 'skip' chatter triggers dollar's biggest weekly fall since January
▼ + stars: | 2023-06-02 | by ( Amanda Cooper | ) www.reuters.com time to read: +4 min

The Australian dollar surged after an increase in the minimum wage there stoked bets for another raise in rates next week. The dollar index , which measures the U.S. currency against six others, has dropped nearly 0.8% this week, its biggest weekly loss since mid-January. Philadelphia Fed President Patrick Harker said on Thursday "it's time to at least hit the stop button for one meeting and see how it goes", referring to the June 13-14 Fed meeting. Money markets are pricing in a roughly 29% chance of a June hike, down from near 70% earlier in the week. Even if a hike doesn't happen next week, markets expect one by autumn.

Persons: Fiona Cincotta, let's, Patrick Harker, Philip Jefferson, Guy Miller, Christine Lagarde, Joe Biden, Monday's, Ray Attrill, Dhara Ranasinghe, Kevin Buckland, Mark Heinrich, Mark Potter, Andrew Heavens Organizations: Federal Reserve, Australian, City Index, Philadelphia Fed, Reuters, Zurich Insurance, European Central Bank, U.S . Senate, National Australia Bank, NAB, Traders, Reserve Bank of Australia, Thomson Locations: U.S, City, April's, London, Tokyo

Right now though, the market has never been more top-heavy and the share of market constituents outperforming the broader index has never been lower. According to Ed Clissold at Ned Davis Research, the percentage of stocks outperforming the S&P 500 this year is just 24.5%. The percentage of S&P 500 stocks outperforming the index on a rolling three-month basis is just 20.3%, a record low. Clissold says that the S&P 500's one-year gain after periods of relative strength by a small group of large caps is an average 1.8%. These five stocks account for over a quarter of the S&P 500's $36.78 trillion market cap, and the top 10 account for a third of the total.

Persons: bode, Ed Clissold, Ned Davis, Meb Faber, Chuck Prince's, Cambria's Faber, Jamie McGeever, Andrea Ricci Organizations: NYSE, Barclays, Apple, Microsoft, Nvidia, Ned Davis Research, Reuters, Google, Cambria Investment Management, Citigroup, Thomson Locations: ORLANDO, Florida

☆ Gold set for biggest weekly gain since April on Fed pause hopes
▼ + stars: | 2023-06-02 | by ( ) www.cnbc.com time to read: +1 min

Gold bars and gold coins of different sizes lie in a safe on a table at the precious metal dealer Pro Aurum. Gold prices were set on Friday for their biggest weekly gain in nearly two months, as a softer dollar and hopes for a pause in the Federal Reserve's tightening campaign bolstered bullion's appeal. Bullion has gained 1.7% so far this week, heading for its best week since the week ended April 7. Gold, which does not yield any interest of its own, loses appeal when interest rates rise. A strong labor market print could see a bounce-back in the dollar, which would not help gold, Waterer added.

Persons: Bullion, Edward Meir, Patrick Harker, Joe Biden, Tim Waterer, Waterer Organizations: Aurum, Marex . Philadelphia Fed, U.S, U.S . Senate, U.S . Labor Department's, KCM

☆ Here's our first-quarter earnings report card for every stock in the portfolio
▼ + stars: | 2023-06-02 | by ( Zev Fima | ) www.cnbc.com time to read: +17 min

As a result, about 78% of S & P 500 companies reported better-than-expected earnings results, according to FactSet. Though sales came up short of expectations, earnings, operating margin, and return on capital all notched new record highs in a tough economy. We also saw strong sales of key drug Mounjaro along with positive updates for its potential as a weight loss medication. GE Healthcare (GEHC) reported solid results with its first-quarter earnings release as sales and earnings outpaced expectations. Despite the top-line miss, TJX Companies (TJX) delivered better-than-expected earnings as management demonstrated the ability to diligently control expenses.

Persons: Emerson, Eli Lilly, Strong, Humana, Johnson, Morgan Stanley, Wells Fargo, Wells, Estee Lauder, Locker, Jim Cramer's, Jim Cramer, Jim, Hsun Huang, Patrick T Organizations: Club, Halliburton, HAL, Linde, LIN, Microsoft, Nvidia, Palo Alto Networks, billings, Procter & Gamble, Devices, Caterpillar, Costco, Coterra Energy, Management, GE Healthcare, Honeywell, Johnson, Wynn Resorts, WYNN, Valley Bank . Disney, Natural Resources, Constellation Brands, TJX Companies, Bausch Health, Nike, Jim Cramer's Charitable, CNBC, Nvidia Corp, Mobile, Fallon, Bloomberg, Getty Locations: Washington, North America, United States, Wells, Macau, Asia, Los Angeles , California

☆ Dollar sags as chances grow for Fed 'skip,' debt bill passes
▼ + stars: | 2023-06-02 | by ( ) www.cnbc.com time to read: +2 min

Hundred dollar bills are seen in this photo illustraiton in Warsaw, Poland on Sept. 21, 2022. The Australian dollar surged after an increase in the minimum wage stoked bets for the central bank to raise rates again next week. The dollar index, which measures the U.S. currency against six others, has dropped nearly 0.8% this week, its biggest weekly loss since mid-January. Money markets are pricing in a roughly 29% chance of a hike, down from near 70% earlier in the week. The dollar was last up slightly at 138.74 yen.

Persons: Fiona Cincotta, let's, Patrick Harker, Philip Jefferson Organizations: Federal Reserve, Australian, City Index, Philadelphia Fed Locations: Warsaw, Poland, U.S, City

☆ Australia first-quarter business investment hits 7-year high, outlook solid
▼ + stars: | 2023-06-01 | by ( ) www.reuters.com time to read: +2 min

[1/4] Pedestrians walk in front of a crane and scaffolding on a construction site in central Sydney, Australia, May 31, 2018. REUTERS/David GraySYDNEY, June 1 (Reuters) - Australian business investment rose to a seven-year high in the first quarter, helped by a jump in spending on mining, manufacturing and transport, while firms affirmed plans for solid spending in the year ahead. First-quarter investment by Australia's huge mining sector climbed 1.7%, accelerating from a rise of 0.7% in the previous quarter. The capital spending figures will feed into data on gross domestic product (GDP) due next week. Construction work done came in better-than-expected, although residential building remained soft, likely making a flat contribution to Q1 GDP growth.

Persons: David Gray SYDNEY, Sean Langcake, Stella Qiu, Jacqueline Wong, Edwina Gibbs Organizations: REUTERS, Australian Bureau, Statistics, Oxford Economics Australia, Reserve Bank of Australia, Thomson Locations: Sydney, Australia

☆ We're encouraged by positive developments around two stocks that we really like
▼ + stars: | 2023-06-01 | by ( Paulina Likos | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. Stick with Salesforce Club holding Salesforce (CRM) delivered strong numbers for its fiscal 2024 first quarter. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Patrick Harker, Philip Jefferson, Jim, Marc Benioff, Bill Newlands, Bernstein, Newlands, Bud, Jim Cramer's Organizations: CNBC, Constellation Brands, Senate, Investors, Federal, Philadelphia Fed, Salesforce Club, Revenue, Constellation Brands Constellation Brands, Bank of America, Constellation Locations: California

☆ Journalists at the nation’s largest newspaper chain are walking off the job in a showdown with its CEO
▼ + stars: | 2023-06-01 | by ( Oliver Darcy | ) edition.cnn.com time to read: +3 min

CNN —The biggest newspaper chain in the country is about to be rocked by the biggest walkout of its staff in history. On Monday, hundreds of Gannett journalists plan to stage a one-day strike during the media company’s annual shareholder meeting. The journalists want shareholders to take a vote of no-confidence against Mike Reed, Gannett’s chief executive. In a Thursday statement, Gannett referenced some of the industry challenges it has faced and strongly contested the allegations the NewsGuild-CWA are leveling against it. “Our leadership is focused on investing in local newsrooms and monetizing our content as we continue to negotiate fairly and in good faith with the NewsGuild.

Persons: Mike Reed, Reed, “ Reed, ”, Jon Schleuss, “, ” Cheryl Makin, “ We’re, Kaitlyn Kanzler Organizations: CNN, Gannett, CWA, Austin American, Statesman, Rochester Democrat, Chronicle, Morale, Home News Tribune Locations: Arizona Republic, Rochester, axing

☆ Roberto Cavalli launches 'disruptive' capsule collection in London
▼ + stars: | 2023-06-01 | by ( Marie-Louise Gumuchian | ) www.reuters.com time to read: +2 min

LONDON, June 1 (Reuters) - Roberto Cavalli launched a "disruptive" capsule collection outside the traditional catwalk calendar on Thursday as the Italian fashion label seeks to rebrand itself after a few shaky years. Designer Fausto Puglisi looked to a 1994 print drawn by the brand's founder Roberto Cavalli, itself inspired by a rococo depiction of the Greek myth of Leda and the swan, for the "Wild Leda" line, on show at London's Selfridges department store. Previously seen in the fashion house's spring-summer 2023 line, the depiction, matched with animals prints, features on floaty dresses, beachwear, accessories and homeware. "Roberto Cavalli was always famous for obviously the gowns but... he created really a lifestyle... So you have your plates, you have your coffee cups, you have your shoes, you have your bag, you have everything.... (we thought) let's do something that is a bit larger and invites you to discover the world of Roberto Cavalli."

Persons: Roberto Cavalli, Fausto Puglisi, Leda, Sergio Azzolari, Dubai's Damac, Hussain Sajwani, Azzolari, Marie, Louise Gumuchian, Ros Russell Organizations: Reuters, Dubai's, Vision Investments, Thomson Locations: Florence, U.S, London, Milan

☆ Analysis: Germany leads big bond rally as inflation finally heads down
▼ + stars: | 2023-06-01 | by ( Yoruk Bahceli | ) www.reuters.com time to read: +5 min

Borrowing costs, or bond yields, in the benchmark euro area issuer are down at least 20 basis points (bps) this week , . Yet this week's notable moves suggest investors are plumping with the view that easing inflation and recession risks are strong bond buy signals. Traders now expect the ECB hikes to peak at around 3.7% by September, suggesting two more hikes from 3.25% currently. COMPLICATEDInvestors cautioned that the European inflation outlook remained more complicated than in the United States, where inflation broadly is down sharply from peaks. This week's fall in borrowing costs followed sharp rises the previous two weeks on bets for more rate hikes.

Persons: Kaspar Hense, Flavio Carpenzano, It's, Cosimo Marasciulo, Marasciulo, BlueBay's Hense, Oliver Eichmann, DWS, Eichmann, Yoruk Bahceli, Harry Robertson, Dhara Ranasinghe, Susan Fenton Organizations: Bank, British, Thursday's, Traders, BlueBay Asset Management, Capital Group, ECB, U.S . Federal Reserve, General Investment Management, Bank of England, NatWest, Pictet Wealth Management, Thomson Locations: Germany, United States, Europe, Amundi, U.S, Britain, DWS

☆ Bank of England to take Bank Rate to 5.00% next quarter as inflation proves sticky - Reuters poll
▼ + stars: | 2023-05-31 | by ( Jonathan Cable | ) www.reuters.com time to read: +3 min

British government bond prices tumbled in the days after the data was released as investors added to bets high inflation will force the BoE to carry on raising interest rates, while lenders have been withdrawing mortgage deals. Meanwhile, 27 of 47 saw Bank Rate at 5.00% or higher by end-September. Bank Rate was seen sitting at 5.00% until early next year, hitting the wallets of indebted consumers already feeling the pinch from a cost of living crisis. All but three of 39 common contributors to this poll and the last one lifted their year-end prediction. The Bank needs to push back against the risk high inflation proves unexpectedly sticky, and may need to raise interest rates further, Monetary Policy Committee member Jonathan Haskel said last week.

Persons: BoE, Simon Wells, Kallum Pickering, Jonathan Haskel, Jonathan Cable, Mumal Rathore, Anitta Sunil, Ross Finley, Chizu Organizations: Bank of England, of England, HSBC, Bank, Monetary, Thomson Locations: Berenberg

☆ Nvidia shares are on a tear this year. Why Wall Street is bracing for a near-term pullback
▼ + stars: | 2023-05-31 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

Nvidia shares are on a tear this year as the chipmaker asserts it dominance and cements itself as the one to beat in the AI arms race. NVDA YTD mountain Nvidia shares in 2023 Wall Street analysts and investors remain confident in the long-term trajectory of the stock, but say its latest jaw-dropping surge sets Nvidia up for a short-term pullback. Overbought conditions and a short-term pullback Despite Nvidia's jaw-dropping print, most near-term momentum indicators show the stock is overbought. Even so, Wald suggests investors consider buying on any pullback and using market dips to sell relatively weaker positions and buy Nvidia. Consolidation in megacaps Nvidia isn't the only big technology giant Wall Street's cooling on at least in the near-term.

Persons: Paul Meeks, Ari Wald, Oppenheimer, Wald, Janney Montgomery Scott, Dan Wantrobski, Katie Stockton, tailwinds, Price, Microsoft's, Meeks, Michael Bloom Organizations: Nvidia, Independent Solutions Wealth Management, Street, Amazon, Microsoft, Apple Locations: Tuesday's

☆ Bank of England to take Bank Rate to 5.00% next quarter as inflation proves sticky, Reuters poll shows
▼ + stars: | 2023-05-31 | by ( Jonathan Cable | ) www.reuters.com time to read: +3 min

☆ TikTok loves book 'tropes' and authors are feeling the pressure to use them as the platform becomes a powerful marketing tool
▼ + stars: | 2023-05-30 | by ( Marta Biino | ) www.businessinsider.com time to read: +5 min

A common way to quickly discuss book plots on TikTok is through tropes, or specific themes that recur in many stories. The focus on tropes has to do with the short nature of videos on TikTok, creators told Insider. The success of tropes puts pressure on authors to try themFor authors, seeing these types of plots find success on the platform can be a double-edged sword. She decided to try writing a romance novel incorporating popular tropes like "enemies to lovers." Some creators worry the focus on tropes on TikTok may be limiting authors' visions.

Soybeans are the only U.S.-traded grain or oilseed in which funds’ net long has persevered since 2020, though money managers have been bullish soybean meal since late 2021. Most-active CBOT soybeans fell 3% in the week ended May 23, at one point trading at the lowest levels since last July. Money managers that week cut nearly 20,000 contracts from their CBOT soybean net long, which fell to 4,147 futures and options contracts. Managed money net position in CBOT soybean futures and optionsMost-active soybeans have shed more than 12% this year, more than in most years, though they bounced 1% over the last three sessions. Money managers extended their net short in CBOT wheat futures and options to 118,788 contracts from 112,769 a week earlier.

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