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☆ U.S. consumer spending retreats in February; inflation cools
▼ + stars: | 2023-03-31 | by ( Lucia Mutikani | ) www.reuters.com time to read: +3 min

The slowdown in consumer spending reported by the Commerce Department on Friday followed the largest gain in nearly two years in January. Consumer spending, which remains supported by a tight labor market, appears on track to pick up this quarter after growing at its slowest pace in 2-1/2 years in the fourth quarter. Consumer spending, which accounts for more than two-thirds of U.S. economic activity, increased 0.2% last month. In the 12 months through February, the PCE price index advanced 5.0% after rising 5.3% in the 12 months through January. The so-called core PCE price index rose 4.6% on a year-on-year basis in February after gaining 4.7% in January.

☆ On 'Ivy Day,' college hopefuls hear from Harvard, Princeton — but here's the school more students want to attend
▼ + stars: | 2023-03-30 | by ( Jessica Dickler | ) www.cnbc.com time to read: +3 min

watch nowMarch 30 is "Ivy Day," when many Ivy League schools release those long-awaited admissions decisions. The colleges that ranked the highest on students' wish lists are "perennial favorites," according to Robert Franek, The Princeton Review's editor-in-chief. They are also among the most competitive: MIT's acceptance rate is just under 4%; at Harvard, it's about 3%. Coming out of the pandemic, a small group of universities, including many in the Ivy League, have experienced a record-breaking increase in applications this season, according to a report by the Common Application. The report found application volume jumped 30% since the 2019-20 school year, even as enrollment has slumped nationwide.

☆ US consumer confidence rises; house price inflation slows
▼ + stars: | 2023-03-28 | by ( Lucia Mutikani | ) www.reuters.com time to read: +6 min

The Conference Board's consumer confidence index rose to 104.2 this month from a reading of 103.4 in February. Housing affordability, which deteriorated as mortgage rates surged in response to the Fed's fight against inflation, is starting to gradually improve as house price gains continue to moderate. Annual house price growth remained strong in the Southeast, with double-digit gains in Miami and Tampa. The region had experienced rapid house price increases in prior years. Goods trade balanceThe Commerce Department also reported that wholesale inventories rose 0.2% in February after falling 0.5% in January.

☆ US weekly jobless claims tick down as labor market remains tight
▼ + stars: | 2023-03-23 | by ( Lucia Mutikani | ) www.reuters.com time to read: +3 min

The weekly unemployment claims report is the most timely data on the economy's health. "A week after the banking panic began, the labor market is steady as a rock with no new layoffs nationwide," said Christopher Rupkey, chief economist at FWDBONDS in New York. Initial claims for state unemployment benefits fell 1,000 to a seasonally adjusted 191,000 for the week ended March 18. TIGHTENING CREDIT CONDITIONSEconomists expect labor market conditions to loosen, especially in the wake of the collapse of Silicon Valley Bank in California and Signature Bank in New York. The so-called continuing claims increased 14,000 to 1.694 million during the week ending March 11, the claims report showed.

☆ DirecTV reaches deal to distribute right wing network Newsmax after long dispute
▼ + stars: | 2023-03-22 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +1 min

DirecTV said Wednesday it reached a deal with Newsmax Media to once again carry the right wing network in its satellite-TV and streaming packages. DirecTV had not carried Newsmax on its services since late January, when carriage negotiations broke down between the two companies. Initially, DirecTV carried the network without paying fees and Newsmax relied on advertising revenue, which is typically the case for new TV channels. Throughout the public dispute, DirecTV said such blackouts were a common occurrence in the pay-TV industry, and consumers were often "caught in the middle." Pay-TV providers like DirecTV have been bleeding customers in recent years due to the rise of streaming services.

☆ 'The Wire' star Lance Reddick dies from natural causes, publicist says
▼ + stars: | 2023-03-17 | by ( Minyvonne Burke | Diana Dasrath | ) www.cnbc.com time to read: +1 min

Lance Reddick attends the LA Premiere of Lionsgate's "Angel Has Fallen" at Regency Village Theatre on August 20, 2019 in Westwood, California. "The Wire" star Lance Reddick, 60, died Friday, his publicist said. Police were called to the actor's home in the Valley Village neighborhood of Los Angeles, California, around 9:30 a.m."Acclaimed actor Lance Reddick passed away suddenly this morning from natural causes," his publicist Mia Hansen said. The movie's stars were in the midst of a press tour for "John Wick: Chapter 4" ahead of its release in theaters on March 24. He is survived by his wife, Stephanie Reddick, and children Yvonne Nicole and Christopher Reddick.

☆ US labor market stays resilient; Q4 labor costs revised higher
▼ + stars: | 2023-03-02 | by ( Lucia Mutikani | ) www.reuters.com time to read: +6 min

Those worries were further heightened by another report from the Labor Department on Thursday showing labor costs grew much faster than previously estimated in the fourth quarter. The labor market remains tight despite rising risks of a recession, contributing to keeping inflation elevated via solid wage gains. But even using alternative seasonal adjustments, economists say the labor market still is exhibiting tightness. A second report from the Labor Department showed unit labor costs - the price of labor per single unit of output - grew at a 3.2% annualized rate last quarter. Labor costs accelerated at a 6.9% rate in the third quarter, and notched hefty gains in the prior two quarters.

☆ US labor market remains tight; Q4 labor costs revised higher
▼ + stars: | 2023-03-02 | by ( Lucia Mutikani | ) www.reuters.com time to read: +4 min

Those worries were further heightened by another report from the Labor Department on Thursday showing labor costs grew much faster than previously estimated in the fourth quarter. The labor market remains tight despite rising risks of a recession, contributing to keeping inflation elevated via solid wage gains. A second report from the Labor Department showed unit labor costs - the price of labor per single unit of output - increased at a 3.2% annualized rate last quarter. Labor costs rose at a 6.9% rate in the third quarter, and notched hefty gains in the prior two quarters. The unemployment rate at 3.4% in January was the lowest in more than 53 years.

☆ U.S. core capital goods orders post largest gain in five months; shipments surge
▼ + stars: | 2023-02-27 | by ( Lucia Mutikani | ) www.reuters.com time to read: +6 min

REUTERS/Dan KoeckSummarySummary Companies Core capital goods orders increase 0.8% in JanuaryCore capital goods shipments surge 1.1%Durable goods orders drop 4.5% on aircraftPending home sales increase 8.1% in JanuaryWASHINGTON, Feb 27 (Reuters) - New orders for key U.S.-manufactured capital goods increased by the most in five months in January while shipments of those so-called core goods rebounded, suggesting that business spending on equipment picked up at the start of the first quarter. These core capital goods orders dropped 0.3% in December. Economists polled by Reuters had forecast core capital goods orders edging up 0.1%. Core capital goods orders increased 5.3% on a year-on-year basis in January. Shipments of core capital goods bounced back 1.1% after declining 0.6% in December.

☆ A.I. is the catalyst behind Nividia's earnings beat, says Susquehanna's Christopher Rolland
▼ + stars: | 2023-02-23 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailA.I. is the catalyst behind Nividia's earnings beat, says Susquehanna's Christopher RollandChris Rolland, senior analyst at Susquehanna Financial Group, joins 'Power Lunch' to discuss Nvidia's earnings beat, A.I. as a catalyst for semis and competition in the semiconductor market.

LONDON, Feb 10 (Reuters) - The two investment obsessions of the year so far - artificial intelligence and super-tight labour markets - meet head on. Far from relaxing, should office or home-based workers now fret that we're in for anything but a tight jobs market over the coming years? Morgan Stanley's thematic research team said this week it was inundated with enquiries about generative AI during its recent client visits. Much like the pandemic, fear of automation could have as big an economic impact as its actual spread. US jobs growth by sectorMcKinsey chart on automation worldwideFathom chart on US vs China AIThe opinions expressed here are those of the author, a columnist for Reuters.

☆ U.S. consumer sentiment improves; inflation expectations rise
▼ + stars: | 2023-02-10 | by ( ) www.reuters.com time to read: +3 min

Its gauge of consumer expectations dipped to 62.3 from a reading of 62.7 last month, likely reflecting lingering recession fears. Rising sentiment also suggested that the sharp declines in retail sales in November and December were a fluke. Data next week is expected to show retail sales rebounding 1.5% in January after tumbling 1.1% in December, according to a Reuters survey of economists. UMichThe University of Michigan survey's reading of one-year inflation expectations increased to 4.2% this month from 3.9% in January. The increase in near-term inflation expectations likely reflected a recent rise in gasoline prices.

☆ U.S. weekly jobless claims increase, labor market remains tight
▼ + stars: | 2023-02-09 | by ( Lucia Mutikani | ) www.reuters.com time to read: +5 min

The jobs market has remained resilient despite growing economic headwinds from the Federal Reserve's interest rate increases. While labor market strength keeps the U.S. central policy on its monetary policy tightening path, it also suggests that a much anticipated recession is nowhere near. The four-week moving average of claims, considered a better measure of labor market trends as it strips out week-to-week volatility, fell 2,500 to 189,250, the lowest level since last April. "But even so, the job market remains remarkably strong." "There is no sign of easing of labor market tightness here."

☆ U.S. trade deficit widens; goods exports at 10-month low
▼ + stars: | 2023-02-07 | by ( Lucia Mutikani | ) www.reuters.com time to read: +3 min

The trade deficit increased 10.5% to $67.4 billion, the Commerce Department said on Tuesday. The trade deficit widened to a record $948.1 billion in 2022 from $845.0 billion in 2021. Consumer goods exports fell $1.0 billion, but food exports rose $0.7 billion. A smaller trade deficit was one of the contributors to the economy's 2.9% annualized growth pace in the fourth quarter. "The economy isn't floundering, but it is unlikely to pick up much speed looking at today's trade deficit data."

☆ It's time to chill with al the recession talk
▼ + stars: | 2023-02-06 | by ( Allison Morrow | ) edition.cnn.com time to read: +8 min

New York CNN —In 2021, a bunch of economists and policy makers underestimated the inflation that was taking root around the world. In 2022, as inflation hit 40-year-highs and the Fed ramped up interest rates, many of those commentators went full-on gloomy — predicting a recession was all but inevitable. And that makes it hard, if not impossible, to imagine a recession anytime soon. “Any concern the economy is in recession or close to a recession should be completely dashed by these numbers,” Moody’s Analytics chief economist Mark Zandi told CNN on Friday. “The economy is further away from recession than ever,” wrote Christopher Rupkey, chief economist at Fwdbonds.

That announcement came after nearly four months of intense talks complicated by concerns about the sharing of intellectual property as Renault sought tie-ups with companies outside their alliance. The deal will see the French carmaker reduce its stake in Nissan to 15% from around 43%. That will see Renault put around 28% of the Japanese automaker in a French trust, crucially making the two more equal partners. While Renault bailed out Nissan two decades ago, it is the smaller automaker by sales. "One almost wonders what's the point of them having any stake in either one, any stake at all," Richter said.

☆ U.S. job openings increase to five-month high as labor market stays tight
▼ + stars: | 2023-02-01 | by ( Lucia Mutikani | ) www.reuters.com time to read: +6 min

There were 1.9 job openings for every unemployed person in December, the Labor Department's monthly Job Openings and Labor Turnover Survey, or JOLTS report, showed on Wednesday. Job openings, a measure of labor demand, increased by 572,000 to a five-month high of 11.0 million on the last day of December. Others speculated that job openings had been overstated because of difficulties adjusting the data for seasonal fluctuations. "A jump in job openings in the retail sector is also at odds with a lower pace of seasonal hiring around the holidays." The job openings rate up shot to 6.7% from 6.4% in November.

☆ New College of Florida’s President Fired Amid Shake-Up
▼ + stars: | 2023-02-01 | by ( Arian Campo-Flores | ) www.wsj.com time to read: 1 min

The board of trustees at the New College of Florida, a small liberal-arts college in Sarasota that Gov. Ron DeSantis has targeted for an overhaul as part of his higher-education agenda, fired its president and named the state’s former education commissioner as the interim replacement. In early January, the Republican governor named six new trustees to the 13-member board, including Christopher Rufo, a conservative activist known for his battles against critical-race theory. The governor’s administration has criticized the 700-student college for what it views as a left-wing ideological focus that is out of touch with the state’s values.

☆ New College of Florida’s President Fired Amid Shakeup
▼ + stars: | 2023-02-01 | by ( Arian Campo-Flores | ) www.wsj.com time to read: 1 min

The board of trustees at the New College of Florida, a small liberal arts college in Sarasota that Gov. Ron DeSantis has targeted for an overhaul as part of his higher-education agenda, fired its president and named the state’s former education commissioner as the interim replacement. In early January, the Republican governor named six new trustees to the 13-member board, including Christopher Rufo, a conservative activist known for his battles against critical-race theory. The governor’s administration has criticized the 700-student college for what it views as a left-wing ideological focus that is out of touch with the state’s values.

☆ Job openings unexpectedly jump to 11 million in December
▼ + stars: | 2023-02-01 | by ( Alicia Wallace | ) edition.cnn.com time to read: +5 min

The 11 million openings for December is the highest since July. The largest increases in job openings were in accommodation and food services, which were up 409,000; retail trade, up 134,000; and construction, up 82,000, according to the BLS report. “The labor market continues to defy the recession predictions of experts,” said Christopher Rupkey, chief economist with FwdBonds, in a statement. Layoffs increased to 1.47 million from 1.41 million in November, and the number of people quitting their jobs ticked down to 4.09 million from 4.1 million. Still, there may be something more than meets the eye in December’s openings number, she added.

☆ Wall Street is worried about chipmakers, one in particular, following the Intel disaster
▼ + stars: | 2023-01-30 | by ( Carmen Reinicke | ) www.cnbc.com time to read: +4 min

Wall Street analysts are starting to worry about chipmaker Advanced Micro Devices following Intel's terrible earnings results . Morgan Stanley named AMD its top pick in December knowing that there would be some risk early in the year. Earnings expectations Even though Morgan Stanley expects a weak first-quarter guidance, it still has an overweight rating and $77 price target on AMD shares. Morgan Stanley models December revenue of $5.54 billion, down 0.4% on the quarter and up 14.8% on the year. "We continue to see a long runway of potential data center gains, including potential to get traction in data center GPU over time."

SARASOTA, Fla.—Christopher Rufo was set to start his first public event as a trustee at New College of Florida this week when campus administrators considered pulling the plug on the meetings with faculty and staff. Someone had sent an email threat against Jason “Eddie” Speir, another of the six trustees Republican Gov. Ron DeSantis named this month to shake up the 700-student state honors college. A staff member asked the men to leave the campus building. Mr. Rufo, a conservative activist known for his battles against critical-race theory, refused.

☆ Watch CNBC's full interview with Susquehanna's Christopher Rolland
▼ + stars: | 2023-01-27 | 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 EmailWatch CNBC's full interview with Susquehanna's Christopher RollandChris Rolland, Susquehanna Financial Group senior semiconductor analyst, joins 'Squawk on the Street' to break down Intel's weak fourth-quarter results, and why he has a sell rating on the stock.

Southwest, which also reported a loss in the fourth quarter, estimates a revenue hit of between $300 million and $350 million in the first quarter. A Southwest Airlines jetliner departs from Chicago Midway International Airport in Chicago, Illinois, U.S., December 27, 2022. He said while a recessionary economic environment tends to make companies de-prioritize spending on technology, Southwest cannot afford to do that. The meltdown led to an adjusted loss of $226 million, or 38 cents a share, in the quarter through December, robbing it of the gains from booming holiday travel demand. Rival carriers United Airlines (UAL.O) and Delta Air Lines (DAL.N) American Airlines (AAL.O) have all reported higher-than-expected earnings for the quarter.

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