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The prospect of "higher for longer" rates has also made short-term fixed income assets especially attractive. "We had a lot of investors who were in, if not cash, then sub-2-year duration fixed income at the start of the year." Takeaways for investors It doesn't hurt for retail investors to review their fixed income allocation now that the year is halfway over. A combination of fixed income assets may be what it takes to benefit from today's higher rates, lock in yields and capture rising prices once the Fed cuts. "We don't buy that there's one fixed income asset class that you should tilt toward," said Calcagni.
Persons: , Don Calcagni, it's, Shannon Saccocia, Neuberger Berman, Michael Rosen, Rosen, Janus Henderson, Vishal Khanduja, Eaton Vance, Khanduja, Callie Cox Organizations: Federal Reserve, FedWatch, Investment Company Institute, Money, Mercer Advisors, Investors, Municipal, Angeles Investment Advisors, AAA CLOs, Janus Henderson AAA CLO, SEC, Morgan Stanley Investment Management, Bond, Ritholtz Wealth Management, Stay Locations: Santa Monica, Calif
Stefanie Longenecker, 43, Palmyra, Pa. Has stayed out of the workforce because of high cost of child care. But she has been sidelined from the workforce by a child care system that has grown inaccessible for many families. Longenecker, 43, left her job as a hospital pathologist during the pandemic to care for her young children amid repeated day care and school closings. “I’m incredibly lucky to be able to spend this time with my kids, even recognizing the shortcomings.”The child care crunch has put a growing squeeze on families since the pandemic, when more than 100,000 workers left the industry and more than 16,000 child care centers permanently closed. Since then, child care costs have risen more than 30%, and households with child care expenses have been spending at a slower pace and dipping into savings at a faster rate than the general population, according to a Bank of America analysis of its customers’ spending.
Persons: Stefanie Longenecker, ” Longenecker, “ that’s, Longenecker, that’s, she’s, Longenecker’s, Davidson, , , haven’t, We’re Organizations: NBC, , Bank of America, Stanford University Locations: Palmyra, Pa, Palmyra , Pennsylvania, Harrisburg, Lebanon County
Marcus' yield hike places it in an exclusive group of financial institutions continuing to offer rates in the 5% range on deposits. Citizens Access and Capital One Financial each offer a 1-year CD that yields 5%, while Sallie Mae offers a 5.15% APY. Bread Financial is at the top of the heap, with an APY of 5.25% on a 1-year CD. Indeed, LendingClub recently slashed its 1-year CD APY to 4.2%, reflecting a cut of 95 basis points, Caintic found. For instance, investors may forfeit some interest if they "break" their CD ahead of maturity, which makes these funds less liquid compared to money market funds.
Persons: Marcus, Goldman Sachs, BTIG, Sallie Mae, Vincent Caintic, LendingClub, Caintic Organizations: Reserve, BTIG Locations: LendingClub
The Youngest Pandemic Children Are Now in School, and StrugglingThe pandemic’s babies, toddlers and preschoolers are now school-age, and the impact on them is becoming increasingly clear: Many are showing signs of being academically and developmentally behind. But the impact on the youngest children is in some ways surprising: They were not in formal school when the pandemic began, and at an age when children spend a lot of time at home anyway. Researchers said several aspects of the pandemic affected young children — parental stress, less exposure to people, lower preschool attendance, more time on screens and less time playing. The youngest students’ performance is “in stark contrast” to older elementary school children, who have caught up much more, the researchers said. Sarrah Hovis, a preschool teacher in Roseville, Mich., has seen plenty of the pandemic’s impact in her classroom.
Persons: ” “, , , Jaime Peterson, , Joel Ryan, Kristen Huff, Catherine Monk, ” David Feldman, Tommy Sheridan, don’t, Michaela Frederick, She’s, weren’t, Aaron Hardin, Frederick, Lissa O’Rourke, Sarrah, ” Terrance Anfield, children’s, Rahil, Briggs, Zero, Kelsey Schnur, Finley, Schnur, Analilia Sanchez, lockdowns, Heidi Tringali, Travis Dove, Tringali, I’m, Michael LoMedico, Emily Sampley, It’s, Dani Dumitriu Organizations: , Oregon Health, Science University, Curriculum Associates, Columbia, Start, Brook Allen, The New York Times, Associates, Cincinnati Public Schools, Cincinnati Children’s Hospital, The New York Locations: School, Washington State, U.S, St, Petersburg, Fla, Martin , Tenn, Sharon, Tenn, Augustine, Cincinnati, Roseville, Mich, , Indianapolis, Sharpsville, Pa, El Paso, Charlotte, N.C, Yonkers, N.Y, Sioux Falls, S.D, Tennessee, Oregon
"Nobody really knows, and that uncertainty is uncomfortable," said Lisa Schilling, director of practice research at the Society of Actuaries Research Institute, the research arm of the Society of Actuaries. Longevity risk measures the likelihood someone may live longer than expected and outlive their savings. The tool asks for basic information on either an individual or a couple: age, sex, retirement age, smoking status and a description of their general health — poor, average or excellent. The results aim to provide a "reasonable" estimate of how long you might live, according to the organizations. Health status affects life expectancy projectionsChronic health conditions such as high blood pressure, cardiovascular disease, cancer, diabetes, high cholesterol, tobacco use, obesity or Parkinson's disease reduce an individual's projected life expectancy.
Persons: Lisa Schilling, haven't, Schilling Organizations: Istock, Society of Actuaries Research, Society of Actuaries, HealthView Services, Finance, Social Security Workers, of Actuaries, American Academy, Actuaries, American Academy of Actuaries, Social Security, Social
I’ve been marching in Pride parades since 1995, but I won’t be marching this year in New York, where I live. Pride Month has always been about a political and progressive embrace of our rainbow of choices. Long before Oct. 7, 2023, Jewish progressives like me protested the Israeli occupation and preached a just two-state solution. I have helped to pioneer faith-led Pride programs that are grounded in Jewish values, fighting for freedom and liberation for all. So it’s painful to admit that I don’t feel welcome as my full self in many queer public places that once felt like home.
Persons: I’ve, I’m, Long Locations: New York, Israel, Gaza, American
That's pushed tech heavyweights and Club names such as Apple , Nvidia , Microsoft and Broadcom higher and the S & P 500 to record highs along with them. The market-cap weighted S & P 500, which we report on all time, has gained more than 4% since May 30. But, a version of the index that assigns each company the same influence, known as the S & P 500 Equal-Weight , has advanced only around 1%. The divergence helps explain why our trusted momentum indicator, the S & P Short Range Oscillator , has been closer to oversold territory than overbought during the run higher. Recent years haven't been so kind to them, with the stock underperforming the S & P 500 considerably over the past three years.
Persons: That's, Morgan Stanley, Wells, Banks, Abbott, We've, Lingo, Stanley Black, Decker, DuPont, DuPont —, Ed Breen, Lori Koch, Vimal Kapur, Jim Cramer, Darius Adamczyk, haven't, Jim Cramer's, Jim, Johannes Eisele Organizations: Apple, Nvidia, Microsoft, Broadcom, Wall Street, Federal, Abbott, Abbott Labs, Mizuho Securities, DuPont, Honeywell, Systems, Jim Cramer's Charitable, CNBC, New York Stock Exchange, Wall, Afp, Getty Locations: Dover, Wells Fargo, Missouri, Abbott's, U.S, Decker, New York City
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. In today's big story, we're looking at why the rise of "quiet vacationing" shows the depressing state of America's work culture . If you're unfamiliar with the distinction, let me introduce you to a new workplace phrase: quiet vacationing . But Business Insider's Emily Stewart argues workers feeling too stressed to fully take time off is a sad example of America's work culture. The irony is that quiet vacationing could arguably put you in a worse position for your job these days.
Persons: , Jenny Chang, Rodriguez, Slack, Emily Stewart, Martin Barraud, Wally Pipp, Pipp, Lou Gehrig, Wally Pipped, Alyssa Powell, Steve German, Arizona's, Mohamed El, Erian, China's, Brooks Kraft, They've, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover, Annie Smith, Amanda Yen Organizations: Service, Business, New York Yankees, American League, Yankees, Getty, Partners, Alfa Bank, YouTube, Foo Fighters, BI, Amazon, Bain & Company, Brooks Kraft LLC, Harvard, Hollywood . Media, Dell Locations: Arizona, Miami, China, Beijing, Shanghai, Russia, Hollywood, New York, London
CNN —When people ask me how good of a player Willie Mays was, I give them a perhaps odd answer. You see, my Father watched Mays play when he came up as a rookie for the New York Giants in 1951. That short splice of film is our version of getting to see Mays play. Mays is a big reason why my Father was one of the few people who wore a New York Giants baseball cap throughout his later years. It’s a connection I try to carry on to this day whether it’s by wearing a New York Giants baseball hat on television or by answering “the New York Giants” when asked what baseball team I root for.
Persons: Willie Mays, Mays, , , Harry Enten, CNN Mays, ” –, Vic Wertz, Harry Hall, Neil Paine, Long, New York – Organizations: CNN, San Francisco Giants, New York Mets, Mets, of Fame, New York Giants, Giants, NL, Brooklyn Dodgers, National League, Cleveland Indians, AP, Chicago Cubs, Baseball, Major League, Negro League, MLB, Negro Leagues, Birmingham Black Barons Locations: Cleveland, New York, West Coast, Chicago, Mays, Mississippi, Bronx
Juneteenth is a celebration of that hard-fought Black freedom, observed in honor of June 19, 1865 when slaves in Galveston, Texas, first learned from Union soldiers that they were free. Like my parents growing up in Haiti, she was used to seeing Black people in positions of power. She had freed herself from unjust rules meant to restrict education for Black Americans. Mark Felix/AFP/Getty ImagesIn Haiti, Hurston’s creative powers had the time and freedom to unfurl. As the author of “Barracoon,” a book based on interviews with one of the last enslaved Black Americans, Hurston almost certainly understood the significance of Juneteenth.
Persons: Nadine Pinede, , Nadine Pinede Sophie Kandaouroff, Lincoln, Juneteenth, , Jim Crow, Zora Neale Hurston, Hurston, Lynne Sladky, she’d, Little, Barnard, Langston Hughes, Hurston unapologetically, Zora, Mark Felix, Lucille, Toussaint Louverture, Jean, Jacques Dessalines, Henri Christophe, Alice Walker, Walker Organizations: Scholastic Education, Haiti Noir, CNN, Union, Black, Black American, La Force, Howard University, Barnard College, Harlem Renaissance, verve, Guggenheim Fellowship, Guggenheim, Getty, La, Magazine Locations: Haiti, , Haitian, Galveston , Texas, Africa, Texas, Caribbean, France, United States, Black, American, Eatonville , Florida, Miami , Florida, Little Haiti, Baltimore, Washington, New York City, Jamaica, AFP, Long
—Katie Stockton with Will Tamplin Access research from Fairlead Strategies for free here . Fairlead Strategies Disclaimer: This communication has been prepared by Fairlead Strategies LLC ("Fairlead Strategies") for informational purposes only. Securities, investment products, other financial products or strategies discussed herein may not be suitable for all investors. The recipient of this information must make its own independent decisions regarding any securities, investment products or other financial products mentioned herein. This material is not to be reproduced or redistributed absent the written consent of Fairlead Strategies.
Persons: AVGO, Katie Stockton Organizations: Broadcom Inc, Nvidia, Fairlead, CNBC Pro, Securities Locations: AVGO
The Greens Are Dead. Long Live the Greens!
  + stars: | 2024-06-16 | by ( Matina Stevis-Gridneff | ) www.nytimes.com   time to read: +1 min
There is no sugarcoating it: losing one-third of their seats in the European Parliament elections last week, the Greens tanked. The European Union has in recent years emerged as the world’s most ambitious frontier in fighting climate change. European voters are anxious about the war in Ukraine and its effect on defense and the economy. A cost-of-living crisis fueled by the coronavirus pandemic is still gripping core European Union members. In this new set of priorities, the Greens’ appeal seems to have faded — or worse, made them appear out of touch.
Organizations: Greens, European, Union Locations: Ukraine
But I didn't expect my ambivalence toward dogs to be a dealbreaker in my adult dating life. I confessed I wasn't the biggest dog person, and he ghosted me. Don't get me wrong: I don't hate dogs. But, as glamorous as it sounds, I don't share the innate obsession with dogs many people seem to have. This is my biggest secret: If I love you, I will begrudgingly love your dog, too.
Persons: , David, Rottweiler, That's frustratingly, I've, Suzy Organizations: Service, Business Locations: America, Chihuahua, Europe
Guests posing for a group photo at the "Let's Go the Extra Mile" hospitality campaign launch ceremony at the Central Government Office in Hong Kong on June 3, 2024. In response, the Hong Kong government launched a campaign – titled "Let's Go the Extra Mile" – encouraging frontline staff and members of the public to demonstrate good hospitality and "reinforce Hong Kong's brand as the best tourism destination." Hong Kong's currency is pegged to the U.S. dollar, which has helped the city's status as an international financial center. "Both have become equal problems for Hong Kong," he said. While the city's borders were closed during the pandemic, nearby Shenzhen continued to develop into a top-tier Chinese city, Lee said.
Persons: Long, John Lee, Hong Kongers, Allan Zeman, Lan, Kwai, Zeman, mainlanders, Simon Lee Siu, Lee Organizations: Central Government Office, Nurphoto, Getty, Hong, Lan Kwai Fong Group, U.S ., U.S, Sports, Tourism Bureau, HK, Pacific Institute of Business, Chinese University of Hong, Shenzhen Locations: Hong Kong, Shenzhen, Hong, Japan, Asia, Chinese University of Hong Kong
Executives and investors at the Money20/20 event in Amsterdam last week told CNBC that valuations have corrected from unsustainable highs from the industry's heyday in 2020 and 2021. Iana Dimitrova, CEO of embedded finance startup OpenPayd, told CNBC in an interview at the firm's booth that the market has "recalibrated." "Value is now ascribed to businesses that manage to prove there is a solid use case, solid business model," Dimitrova told CNBC. In 2021, global fintech funding reached an all-time peak of $238.9 billion, according to KPMG. Nanu added that the trend mimics the "craziness" fintech saw in terms of frothy valuations in 2020 and 2021.
Persons: Long, Dimitrova, Horacio Villalobos, Revolut, Prajit Nanu, fintech, Nanu, OpenPayd's Dimitrova, OpenPayd, Crypto, Andrea Pirlo, Fintech execs, they're, James Black, IVP, We've, Black, Charles McManus, Chris Ratcliffe Organizations: Bloomberg, Getty, AMSTERDAM, CNBC, RAI, KPMG, Companies, U.S ., ClearBank, Global Summit Locations: Amsterdam, Lisbon, Portugal, fintech, Italian, stablecoins
Broadly speaking, market observers expect that investors have already priced in how the Fed may proceed with interest rates. So long as this week's Fed meeting sticks to the consensus view, many observers expect stocks will breathe a sigh of relief. "This is one of the busiest of the days on Wednesday," said Art Hogan, chief market strategist at B.Riley Financial. Possibility for surprise Of course, the Fed meeting still has the potential to surprise investors. ET Wednesday while the Fed meeting wraps up at 2:00 p.m. and Powell's press conference starts a half hour later.
Persons: shrugging, Hogan, Dave Sekera, it's, Riley's Hogan, ChairJerome Powell, Powell, hasn't, Brian Nick, Nick, , I'd, Jeff Klingelhofer, Klingelhofer, Joshua Roberts Organizations: Federal Reserve, B.Riley, Morningstar, Fed, Macro, Bureau of Labor Statistics, Nvidia, Thornburg Investment Management, Federal Locations: U.S, Washington ,
They recognize an essential truth: delusional people don't learn well. And how can you possibly know where or how to grow and learn if you don't know your starting point? (Surprise, surprise, it really likes information that proves the story right, a problem called confirmation bias.) If you want to see the world the way it really is, you've got to hunt for the truth. Excerpted from "How Leaders Learn: Master the Habits of the World's Most Successful People" by David Novak with Lari Bishop.
Persons: Wendy, I'd, Jeff, Rick, Anne, I'm, Tim Schurrer, David Novak, hemming, hawing, Tim, Andy Pearson, neuroscientists, Clarence Darrow, Darrow, Chase, you've, You've, Lari Bishop, David C Novak Organizations: Service, David Novak Leadership, Harvard Business Review Press Locations: Louisville
AdvertisementI made a point to visit the Villa Zorayda MuseumThe Villa Zorayda Museum was modeled after the Alhambra Palace in Spain. Megan duBoisI've passed by the Villa Zorayda Museum many times while exploring St. Augustine, but I'd never ventured inside until this visit. The Spanish influence is visible all over the city's architectureMore showcases of Spanish architecture can be found around the city. For a Spanish-inspired drink, I went straight to Columbia RestaurantI love the white sangria at Columbia Restaurant. I shared a pitcher of white sangria with two other people, and it was loaded with fresh citrus and a splash of Torres 10 brandy.
Persons: , I've, Megan duBois I've, Augustine, I'd, Megan duBois, Ponce de Leon Hall, Leon Hall, Ponce de Leon, George Street, Castillo, San, Castillo de San, San Marcos — Organizations: Service, Business, Villa Zorayda, Villa Zorayda Museum, Ponce de, Leon, Ponce, Lightner, Museum, Spanish, Columbia, Historic District, San Marcos Locations: Spain, Barcelona, St, Augustine , Florida, Jacksonville, Granada, Moroccan, Ponce, Flagler, Ponce de, Spanish, Penedes, San Marcos, Castillo de San Marcos
Technology stocks have dominated the market for more than a decade. However, strong outperformance in tech may begin to spread to other sectors of the stock market, according to BofA. Here are four reasons tech stocks' dominance could end later this year, according to the bank. AdvertisementThe technology sector's dominance over the stock market could finally end later this year, according to Bank of America. Advertisement"As earnings accelerate outside of Tech, investors will likely become more price sensitive and seek out cheaper earnings growth," Subramanian said.
Persons: , Savita Subramanian, Subramanian, COVID Organizations: Service, Bank of America, Tech, Federal Reserve, Treasury, Bank of, Technology, Communication Services, Nvidia, hyperscalers Microsoft, Rockwell Automation, ROK Locations: Tech, China, Japan
Jacob Garcia/ReutersPolls in Mexico are set to close at 6 p.m. local time. More than 98 million voters are registered to cast a ballot in Mexico, and 1.4 million Mexicans are eligible to vote abroad. How voting has unfolded so far: Polls opened at 8 a.m. local time, however, on Sunday, some voting stations in parts of the country opened with delays. Outside polling stations, voters told CNN that public security was one of their main concerns. US officials are closely monitoring the presidential election as it comes at a critical time for the Biden administration.
Persons: Jacob Garcia, Claudia Sheinbaum, Xochitl, Jorge Álvarez Máynez, “ Morena, Gálvez, Biden Organizations: Reuters, Morena, PAN, ’ Movement, CNN, Electoral Institute, Mexican Consulate Locations: San Juan Chamula, Mexico, Mexico City, Yucatán, Madrid, Spain, United States, Mexican, Los Angeles
CNN —Mexicans headed to the polls on Sunday to vote in a historic election expected to return the country’s first woman president. More than 98 million voters are registered to cast a ballot in Mexico, and 1.4 million Mexicans are eligible to vote abroad. Mexico's opposition presidential candidate Xochitl Gálvez outside a polling station in Mexico City on June 2, 2024. Outside polling stations, voters told CNN that public security was one of their main concerns. Jorge Luis Plata/ReutersUS officials are closely monitoring the presidential election as it comes at a critical time for the Biden administration.
Persons: Claudia Sheinbaum, Xochitl, Jorge Álvarez Máynez, Andrés Manuel López Obrador, Sheinbaum, ” Gálvez, Luis Cortes, , Jorge Luis Plata, Biden, CNN’s Michelle Velez, Priscilla Alvarez Organizations: CNN, Morena, PAN, ’ Movement, Reuters, Electoral Institute, coy, Republicans, Biden, Homeland Security Locations: Mexico, Mexico City, Yucatán, San Bartolome Quialana
South Africa's governing African National Congress lost its parliamentary majority of 30 years, in the country's most sweeping political shift since the end of the apartheid. The six-months-old uMkhonto weSizwe party of the country's former president Jacob Zuma, established in December, clinched 14.6% of votes. The result marks a meteoric fall for ANC from the 57.5% wrested during the previous election of 2019 — at the time, the party's weakest feat since South Africa's first democratic vote in 1994. In 2022, the World Bank named South Africa "the most unequal country in the world." "Top-of-mind issues for voters are unemployment, loadshedding, corruption, and crime, which have all taken a toll on the country's growth performance for years," analysts at Deloitte said at the start of the month.
Persons: Jacob Zuma, Long Organizations: African National Congress, ANC, Democratic Alliance, Marxist Economic, Fighters, World Bank, Deloitte Locations: South Africa
Friedrich Chill Premier Smart Window Air Conditioner (CCF08A10A) If you have a medium-sized room, the Friedrich Chill Premier Smart Window Air Conditioner (CCF08A10A) is your best option with its impressive cooling abilities, smart connectivity, and long warranty. Our review of the Friedrich Chill Premier air conditionerAdvertisementSetupThe setup was straightforward and took about 30 minutes. AdvertisementEnergy UseThe Friedrich Chill Premier air conditioner is Energy Star-certified to help protect the climate, save money, and save energy. Read our full Midea U-Shaped air conditioner review and check out our guide to the best air conditioners for more options. If your window doesn't accommodate a window air conditioner, consider picking up one of the recommended models from our best portable air conditioner guide.
Persons: I've, Friedrich, Friedrich Chill, Richard, James Brains, Friedrich Chill Premier, wasn't Organizations: Business, Smart, Friedrich Chill Premier, Premier, Friedrich Chill, Energy Star, Friedrich AC, Google, Amazon Alexa
On an annual basis, Costco's EPS grew 29%. After closing at a record $815.34 per share Thursday, Costco's stock declined about 1.5% in extended trading. Core merchandise was flat on a reported basis, but a two-basis-point improvement when excluding the impact of gasoline. Costco's reporting segment for so-called "other" items saw a 57-basis-point benefit on a reported basis and a 56-basis-point benefit ex-gas. Costco's inflation update remained encouraging.
Persons: We're, Ron Vachris, Gary Millerchip, Vachris, Millerchip, Costco didn't, that's, Richard Galanti, Jim Cramer's, Jim Cramer, Jim Organizations: Costco Wholesale, Costco, LSEG, Wholesale, Walmart, Club, Amazon, CNBC, Costco Self, Ucg, Getty Locations: U.S, Canada, Queens , New York
The Ukrainian army has increasingly used U.S.-supplied long-range missiles to target Russian airfields and warships deep inside Russian-occupied Ukrainian territory, but it has been barred by Washington from extending its attacks into Russia proper, limiting its ability to repel enemy assaults. In the past week, Kyiv’s forces launched three attacks using Army Tactical Missile Systems, known as ATACMS. Ukraine hopes that the strikes, by hurting Moscow’s ability to conduct military operations, will ultimately help relieve troops struggling to contain Russian advances on the ground. But the United States and other Western allies have permitted only the firing of Western weapons into Russian-occupied territory in Ukraine, not into Russia itself, for fear of escalating the war. Ukrainian officials have complained that the policy allows Moscow to launch attacks from inside Russia without risk and handcuffs Ukraine’s ability to repel them.
Persons: , Volodymyr Zelensky Organizations: Army Tactical Missile Systems, The New York Times Locations: U.S, Washington, Russia, Ukraine’s, Ukraine, United States, Moscow
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