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“We had the exact same story and the exact same company — VineBrook Homes,” Allen told NBC News. VineBrook Homes Trust Inc., which owns over 3,000 single-family homes in the Cincinnati area, is one of the most aggressive landlords in bringing eviction proceedings against its residents, they say. A big institutional owner of over 24,000 single-family homes in mostly lower-income areas, VineBrook Homes is a real estate investment trust (REIT) with properties in 18 states, including Alabama, Indiana, Missouri and Mississippi. “I left in Dec. 2021,” Jenkins told NBC News. Vinebrook Homes owns over 3,000 single-family homes in the Cincinnati area, including many in suburbs like North College Hill.
Cathie Wood's flagship ARK Innovation ETF staged a dramatic relief rally Thursday on the back of an easing inflation reading . ARKK's biggest holding Zoom Video popped about 12%, while Tesla jumped nearly 7%. The innovation investor has been calling deflation for some time, betting the high prices were caused by temporary Covid-related supply issue. The innovation investor just doubled down on a slew of her favorite stocks this week, unfazed by the turmoil in many of these names. Wood snapped up shares of six companies Wednesday, including adding to some of her largest holdings Zoom Video and Tesla.
NEW YORK, Nov 4 (Reuters) - A sputtering U.S. stock rally faces a double-dose of potentially market moving events next week: U.S. midterm elections and inflation data that could influence the Federal Reserve's monetary policy. Consumer price data has driven huge market moves this year, as surging inflation forced investors to ramp up expectations for Fed rate hikes. A stronger-than-expected reading on Nov. 10 would likely bolster the case for the Fed to continue. "If we get lower inflation reading then you could get a relief rally based on that data,” said Emily Roland, co-chief investment strategist at John Hancock Investment Management. "The results of the midterm will give greater visibility and help draw investor confidence higher," he said.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with John Hancock Investment Management's Emily RolandEmily Roland, co-chief investment strategist at John Hancock Investment Management, joins 'Squawk Box' to offer her take on earnings season so far, CEO recession expectations, and consumer dynamics in an elevated inflationary environment.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSeven out of 10 sectors are seeing negative earnings growth, says Emily RolandEmily Roland, co-chief investment strategist at John Hancock Investment Management, joins 'Squawk Box' to offer her take on earnings season so far, CEO recession expectations, and consumer dynamics in an elevated inflationary environment.
Speculation about a potentially more dovish Fed - despite U.S. inflation remaining hot - was visible in money markets. But they climbed back again, with the benchmark 10-year Treasury yields up at 4.229% and two-year note yields at 4.498%. On the long end, 30-year Treasury yields rose to an 11-year high of 4.359%. "If the Fed is going to be data dependent, these data points should be a focus point for them. Whether or not that actually happens, is yet to be seen," said Matthew Miskin, co-chief investment strategist at John Hancock Investment Management.
Monday's major rally on Wall Street was just the latest in an unusually volatile year. Shares of Tesla jumped 7%, with the electric vehicle maker's report late on Wednesday set to be one of this week's main attractions. Wall Street's most heavily traded stock, Tesla has tumbled over 17% since Oct. 2, when it disclosed third-quarter vehicle deliveries that missed estimates as logistical challenges overshadowed its record deliveries. Analysts worried about a deteriorating global economy have slashed their quarterly earnings outlooks. Netflix reports on Tuesday, with analysts expecting revenue to grow just 5% year/year, its lowest quarterly increase ever, according to Refinitiv.
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 7, 2022. Register now for FREE unlimited access to Reuters.com RegisterFellow financial Bank of NY Mellon Corp (BK.N) also benefited from higher interest rates, and its shares climbed 5.08%. The S&P 500 banks index (.SPXBK) was up 3.48%, while each of the 11 major S&P 500 sector were higher. Tesla Inc (TSLA.O), Netflix (NFLX.O) and Johnson & Johnson (JNJ.N) are among companies expected to report results later in the week. The S&P 500 posted no new 52-week highs and 2 new lows; the Nasdaq Composite recorded 83 new highs and 146 new lows.
Cathie Wood, Founder, CEO, and CIO of ARK Invest, speaks at the 2022 Milken Institute Global Conference in Beverly Hills, California, May 2, 2022. The Federal Reserve likely is making a mistake in its hardline stance against inflation Ark Investment Management's Cathie Wood said Monday in an open letter to the central bank. Instead of looking at employment and price indexes from previous months, Wood said the Fed should be taking lessons from commodity prices that indicate the biggest economic risk going forward is deflation, not inflation. Specifically, the consumer price and personal consumption expenditures price indexes both showed inflation running high. Headline CPI rose 0.1% in August and was up 8.3% year over year, while headline PCE accelerated 0.3% and 6.2% respectively.
Chicago Federal Reserve President Charles Evans said the central bank is holding fast in its commitment to bring down inflation even if it means people losing their jobs. "Price stability sets the stage for stronger growth in the future." "But price stability makes the future better." Evans said he sees some signs that inflation is letting up as supply chain pressures ease. Evans is a non-voter on the rate-setting Federal Open Market Committee and has said he is leaving his position early in 2023.
As market volatility persists amid Europe's energy crisis and worsening economic forecasts, companies are holding off on their plans to go public. Register now for FREE unlimited access to Reuters.com Register"One transaction alone cannot re-open the floodgates of IPO executions. This requires more predictable macro and reduced equity market volatility," said Antoine de Guillenchmidt, co-head of EMEA Equity Capital Markets at Goldman Sachs. Going forward, as interest rates continue to rise and companies look for financially efficient ways of refinancing their balance sheets, equity capital markets are likely to see a surge in convertible bond activity. "We will see many more convertibles and mandatory convertible instruments because some issuers don't have many alternatives, and investors are still very keen," said Andreas Bernstorff, head of equity capital markets at BNP Paribas.
Norway's $1.2 trillion fund sets 2050 net zero target
  + stars: | 2022-09-20 | by ( ) edition.cnn.com   time to read: +1 min
Oslo Norway's $1.2 trillion wealth fund, the world's largest, said on Tuesday it would decarbonise its holdings by pushing firms to cut their greenhouse gas emissions to nil by 2050, in line with the Paris Agreement. The fund invests the petroleum revenues from Western Europe's biggest oil and gas producer for future generations in stocks, bonds, property and renewable projects abroad. "Our long-term return will completely depend on how the companies in our portfolio manage the transition to a zero emissions society," Chief Executive Nicolai Tangen of Norges Bank Investment Management said in a statement. Tuesday's plan follows a proposal made in April by the Norwegian government, which said the fund should push the 9,300 companies it invests in to cut their emissions to nil by 2050. "We will engage the companies to reach this target by setting credible preliminary targets and creating plans to reduce their direct and indirect emissions of greenhouse gases," Chief Governance and Compliance Officer Carine Smith Ihenacho said.
Norway's $1.2 trillion wealth fund sets 2050 net zero target
  + stars: | 2022-09-20 | by ( ) edition.cnn.com   time to read: +1 min
Norway’s $1.2 trillion wealth fund, the world’s largest, said on Tuesday it would decarbonise its holdings by pushing firms to cut their greenhouse gas emissions to nil by 2050, in line with the Paris Agreement. The fund invests the petroleum revenues from Western Europe’s biggest oil and gas producer for future generations in stocks, bonds, property and renewable projects abroad. The fund owns on average owns 1.3% of all listed global stocks and its size is equivalent to $219,000 for every Norwegian man, woman and child. The fund published its first expectations on how companies should address climate change more than a decade ago. It tracks climate-related risks, defined as the impact climate change may have on the assets the fund invests in, but also the opportunities that could arise for individual firms successfully adapting to it.
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