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Big cap tech drew in investors in droves this past week, as the market struggled against volatile interest rates and fears of banking sector contagion. The futures market Thursday was pricing in strong odds of a quarter-point rate hike from the Federal Reserve next week. The big cap tech names are benefiting from a flight-to-quality within the sector, since those stocks have strong cash flow and reliable earnings. The 2-year Treasury yield , for instance, rose above 5% last week but this past week it was well below 4%. Tech and growth names have reacted poorly when rates rise, since investors tend to pay a premium for the promise of future earnings growth.
A passenger is suing MSC Cruises, claiming a crew member sexually assaulted her on February 9. download the app Email address By clicking ‘Sign up’, you agree to receive marketing emails from Insider as well as other partner offers and accept our Terms of Service and Privacy PolicyA cruise passenger is suing MSC Cruises, saying she was sexually assaulted by a crew member while aboard the ship, the MSC Meraviglia. The lawsuit says the woman's husband confronted the crew member, whom the husband said apologized before security was alerted. MSC Cruises had fired another crew member weeks earlier after a passenger and staff members caught him filming the passenger from a toilet cubicle. MSC Cruises did not respond to Insider's request for comment.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPowell reiterated what we've been hearing all along, says Edward Jones' Mona MahajanBespoke Investment Group's Paul Hickey and Mona Mahajan of Edward Jones join Mike Santelli and the 'CNBC Special: Taking Stock' to discuss today's market reaction to Fed Chair Jay Powell's Senate testimony.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailManufacturing sector is stable, seeing normal growth, says Bespoke's Paul HickeyBespoke’s Paul Hickey and Payne Capital Management’s Courtney Garcia join 'Closing Bell: Overtime' to discuss stock volatility ahead of earnings this week.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC’s full post-market discussion with Bespoke’s Paul Hickey and Payne Capital Management’s Courtney GarciaBespoke’s Paul Hickey and Payne Capital Management’s Courtney Garcia join 'Closing Bell: Overtime' to discuss stock volatility ahead of earnings this week.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC’s full interview with Vital Knowledge Media’s Adam Crisafulli and Bespoke’s Paul HickeyVital Knowledge Media’s Adam Crisafulli and Bespoke’s Paul Hickey, join 'Closing Bell: Overtime' to discuss S&P levels breaking above 4,000 and what that means for the market.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBuy dips down around the 4,000 level, says Vital Knowledge Media's Adam CrisafulliVital Knowledge Media’s Adam Crisafulli and Bespoke’s Paul Hickey join 'Closing Bell: Overtime' to discuss S&P levels breaking above 4,000 and what that means for the market.
As we age, we can start to feel like we are made of rust. About 70% of people over age 50 said they experience at least occasional joint pain, according to the 2022 University of Michigan National Poll on Healthy Aging. Decreased range of motion in our joints often causes pain and stiffness, says Bo Hickey , a Huntersville, N.C.-based U.S. Masters swimming coach.
Feb 6 (Reuters) - Videogame publisher Activision Blizzard (ATVI.O) beat Wall Street estimates for fourth-quarter adjusted sales on Monday, thanks to the success of the latest game in its "Call of Duty" franchise. The company expects its full-year adjusted sales to grow at least in high-single digits, bolstered by the launch of games including "Diablo IV." Adjusted sales in the quarter ended Dec. 31 came in at $3.57 billion, compared with analysts' average estimate of $3.16 billion, according to Refinitiv data. Activision's $69-billion takeover by Microsoft is being challenged by the U.S. Federal Trade Commission and being investigated by EU authorities. Fourth quarter net income fell to $403 million, or 51 cents per share, from $564 million, or 72 cents per share, a year earlier.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLow expectations have led to a positive earnings season, says Bespoke's Paul HickeyPaul Hickey, Bespoke Investment Group, joins 'Closing Bell' to discuss the market trends in today's trading day.
YouTube is taking back the reins from TikTok as the official title sponsor of VidCon, the biggest convention for social media creators and their fans. From 2013-2019, YouTube served as the primary partner of VidCon, which veteran YouTubers John and Hank Green created. Many on the featured creators roster, such as Charli D’Amelio and Khaby Lame, got their big breaks on TikTok, not YouTube. “We are thrilled to have them return as the title sponsor to help drive our mission of putting digital culture and its creators center stage. “The unique relationship and trust between YouTube creators, their fans and the digital industry is what sets our platform apart,” Stanford said in the statement.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe market is definitely taking a more cautious approach, says Bespoke's Paul hickeyBespoke Investment Group's Paul Hickey joins 'Closing Bell' to discuss this morning's weak economic data and whether that could be the sign of a soft landing.
CNN —More than half of all US states have partially or fully banned TikTok from government devices, according to a CNN analysis, reflecting a wave of recent clampdowns by governors and state agencies targeting the short-form video app. The accelerating backlash by states against TikTok, which has at least 100 million users in the United States, extends to states governed by Republicans and Democrats, and spans all regions of the country. Many of the states have singled out TikTok for executive action, with governors prohibiting the social media platform from government networks and devices. A handful of states are mulling legislation to restrict TikTok, mirroring similar efforts at the federal level by US lawmakers. Nearly two dozen states announced restrictions late last year amid reports that a negotiation between TikTok and the US government had stalled over whether the company could continue offering its services in the United States.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIndicators suggest the economy is weaker rather than stronger, says Bespoke's Paul HickeyPaul Hickey, Bespoke Investment Group co-founder, joins 'Squawk Box' to discuss lagging data in the latest CPI, the Fed's response to weak CPI numbers, and more.
Alphabet and Shopify: Two stocks to watch in the tech sector
  + stars: | 2023-01-04 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAlphabet and Shopify: Two stocks to watch in the tech sectorPaul Hickey, Bespoke Investment Group co-founder, joins ‘TechCheck’ to explain why Alphabet and Shopify are the stocks he is keeping a tab on amidst the uncertain times in tech sectors.
Vanessa Hughes recently moved to West Lafayette, Indiana, a city of 45,000 and a major university. In West Lafayette, she's paying half the amount for a significantly bigger space with a yard for their two dogs. In 2023, the search for affordable housing could pull more homebuyers towards Midwestern spots like West Lafayette. Michael Hickey/Getty ImagesBy the end of November, they had made the move to West Lafayette. West Lafayette is just one place that offers people incentives to move there.
Minneapolis CNN —The current period of high inflation that has significantly impacted the US economy will also influence a New Year’s tradition: The annual state minimum wage increases. By January 1, hourly minimum wages in 23 states will rise as part of previously scheduled efforts to reach $15 an hour or to account for cost-of-living changes. Additionally, nearly 30 cities and counties across the US will increase their minimum wage, according to the EPI, a left-leaning think tank. “The fact that there’s high inflation really just underscores how necessary these minimum wage increases are for workers,” said Sebastian Martinez Hickey, a research assistant at the EPI. “That also means that prices aren’t going to go up at [places like] restaurants.”The federal minimum wage of $7.25 per hour hasn’t budged since 2009, and 20 states have a minimum wage either equal to or below the federal level, making $7.25 their default baseline.
CNN —A blast of severe winter weather last week caused thousands of Southwest Airlines flight cancellations and spiraled into a complete meltdown of its flight system. In October 2021, Southwest canceled more than 2,000 flights over a four-day period. While the airline blamed the crisis partly on bad weather in Florida, Southwest canceled flights for far longer than its competitors. Southwest’s scheduling system hasn’t changed much since the 1990s, according to Captain Casey Murray, president of the Southwest Airlines Pilots Association. But Southwest has consistently failed to perform as well as its competitors when it comes to cancellations, according to bureau data.
Wild price swings at the gas pump throughout the year make predicting prices for 2023 even more difficult. Diesel prices fell 20% from their peak in June, only about half the decline for gasoline during the same period. Greater demand for North American diesel by Europe in the wake of the war in Ukraine kept diesel prices so high. Most trucking companies charge a fuel surcharge to their customers when diesel prices increase. Many of the western states faced much higher gas prices because of more limited refining capacity.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Fed thinks the economy is stronger than it is, says Bespoke's Paul HickeyPaul Hickey, Bespoke Investment Group co-founder, joins 'Closing Bell: Overtime' to discuss 2022 in review, which he calls the 'year of the bears.'
THL will spend $350 million to acquire a majority stake in the company. Boston-based private equity firm Thomas H. Lee Partners (THL) has agreed to buy a majority stake in venture-backed digital asset management platform Bynder in a deal that would value the company at over $600 million. THL, founded in 1974, is a private equity firm focused on acquiring middle-market companies in the fintech, healthcare, and enterprise tech spaces. THL Director Cliff Longley said that the firm has spent the last few years building a thesis around digital asset management. The acquisition comes at the end of a year that has seen a slowdown in private equity dealmaking.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOverall, there are some things to like about the market here, says Bespoke's HickeyNeil Dutta, Renaissance Macro Research head of economic research, and Paul Hickey, Bespoke Investment co-founder, join 'Closing Bell' to discuss Dutta's thoughts on the economy, if Hickey agrees with Neil and more.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThere are short-term positive aspects to tech stocks, says Bespoke's HickeyPaul Hickey, Bespoke Investment Group co-founder, joins 'TechCheck' to discuss the potential upside for tech stocks with positive, looming inflation data, if mega-cap technology stocks are still being held down and more.
On January 2, the median member of Congress will be 61.7 years old. On January 3, when the 118th Congress takes over, the median member will be 59.2 years old. Indeed, on the last day of the current 117th Congress, the median member will be 61.7 years of age, the oldest on record. On the first day of the 118th Congress, there will be 107 members over the age of 70. Assuming current membership holds, the median age of Congress will be 61.1, as of December 1, 2024 — just short of the current Congress' advanced age.
A source familiar with Andreessen Horowitz's content strategy confirmed to Insider that Future is shutting down. An Andreessen Horowitz spokesperson declined to comment on the record. Joe LonsdaleIn this new climate, many tech and venture firms' media strategy has shifted from glorified marketing to a more full-fledged editorial operation. In 2021, an army of more than two dozen marketers at Andreessen Horowitz doubled down on this approach. Disclosure: Melia Russell's husband is a former employee of Andreessen Horowitz.
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