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☆ Bernie Sanders says 'we want to look at a shorter workweek' as part of his pro-worker agenda leading a key Senate panel on labor
▼ + stars: | 2023-02-23 | by ( Nicole Gaudiano | ) www.businessinsider.com time to read: +6 min

Sen. Bernie Sanders is the new head of a key Senate panel on labor issues. Sen. Bernie Sanders is pushing for a four-day workweek, worker-owned businesses, and taxing robots that replace workers. Sanders told Insider he plans to hold at least one hearing on the future of work, exploring how workers can benefit from a revolution in technology. "It is an outrage that you have a billionaire like Howard Schultz engaging in vicious anti-union activity and I think he has got to explain his illegal behavior to the Senate," Sanders told me. "As technology increases worker productivity, we want to look at a shorter workweek," he said.

☆ Biden nominates former MasterCard chief Banga to head World Bank
▼ + stars: | 2023-02-23 | by ( Andrea Shalal | ) www.reuters.com time to read: +4 min

[1/2] Ajay Banga, CEO of MasterCard, speaks during the Women In The World Summit in the Manhattan borough of New York April 8, 2016. REUTERS/Lucas Jackson/File PhotoWASHINGTON, Feb 23 (Reuters) - U.S. President Joe Biden on Thursday nominated Indian-American business executive Ajay Banga to become president of the World Bank, lauding his experience forging public-private partnerships to address financial inclusion and climate change. “Ajay is uniquely equipped to lead the World Bank at this critical moment in history," Biden said in a statement. Banga's nomination is the first to be made public, but the bank will accept nominations from other member countries through March 29. That would enable the World Bank to serve "as a force multiplier for good" by catalyzing action from the wide range of players, she said, adding that the World Bank could not meet the massive needs of developing countries on its own.

☆ BANK OF AMERICA: Buy these 25 stocks as their buybacks give them a major edge in the downturn that's just beginning
▼ + stars: | 2023-02-19 | by ( Marley Jay | ) www.businessinsider.com time to read: +2 min

Hall put together a list of "Buy" rated stocks that have been leading shares repurchasers recently. Bank of America was one of the firms that told investors to bet on small-cap stocks going in to 2023 — and so far, their faith in smaller companies have been rewarded. The price of the small-cap Russell 2000 index has jumped 11.1% year-to-date. When that's the case, companies that rank in the top 25% of Russell 2000 stock repurchasers have outperformed the index substantially. "We provide a screen of Russell 2000 stocks with the biggest YoY net reduction in share count over the last 12 months, limiting to those which are Buy-rated by BofA fundamental analysts," she wrote.

☆ Nuveen investment chief Saira Malik told us how investors should be positioned today, and when they should flip the switch and change strategies for bigger post-recession profits
▼ + stars: | 2023-02-01 | by ( Marley Jay | ) www.businessinsider.com time to read: +4 min

Saira Malik is the chief investment officer at Nuveen, which manages $1.1 trillion in assets. Malik favors fixed income over stocks, and explained how she thinks investors should allocate. January was a decent month for stocks, and the third positive month for US indexes out of the last four. Some might call it a relief rally, but Nuveen investment chief Saira Malik doesn't seem relieved. She's the chief investment officer and head of the global investment committee for Nuveen, a unit of TIAA that managed $1.1 trillion in assets as of September 30.

☆ Why do people buy crackpot conspiracy theories?
▼ + stars: | 2023-01-26 | by ( Adam Rogers | ) www.businessinsider.com time to read: +13 min

When it comes to the spread of cockamamie conspiracy theories, Twitter was a maximum viable product long before Elon Musk paid $44 billion for the keys. The more you think you're right all the time, a new study suggests, the more likely you are to buy conspiracy theories, regardless of the evidence. It'd be better, or at least more reassuring, if conspiracy theories were fueled by dumb yahoos rather than self-centered monsters. Still, most scientists thought conspiracy theories weren't worth their time, the province of weirdos connecting JFK's death to lizard aliens. Pennycook's findings also suggest an explanation for why conspiracy theories have become so widely accepted.

☆ EU court backs move to prise open bloc's decision making
▼ + stars: | 2023-01-25 | by ( Huw Jones | ) www.reuters.com time to read: +2 min

LONDON, Jan 25 (Reuters) - European Union member states must grant public access to documents circulated in their working groups for adopting laws, an EU court ruled on Wednesday, as efforts to prise open the bloc's legislative machine make further progress. EU states, collectively known as the Council, have joint say with the European Parliament on approving laws proposed by the European Commission and which apply across the 27-country bloc. Decisions are often agreed in meetings away from the public gaze and then later rubber-stamped in public. Emilio De Capitani, a former official at the European Parliament, brought a case against the Council's refusal to make available documents used for approving an amendment to an EU law on annual financial statements. Trilogues are meetings between parliament and EU states to thrash out the final version of a law that will come into effect - a crucial stage where last minute deals are struck and new elements can be included.

☆ A Nike exec says a phisher stole his NFTs. Here are 3 things everyone should do to protect a digital wallet
▼ + stars: | 2023-01-23 | by ( Matthew Kish | ) www.businessinsider.com time to read: +4 min

In a tweet, Gopalani said the phishers stole his Clonex NFTs and some other digital collectibles, including some "Cryptokicks." Decrypt, a publication that covers web3, estimated the stolen NFTs were worth $173,000. Don't keep your digital assets in one place. Hardware wallets store keys to digital assets offline, making them inaccessible to cyber thieves. There's a growing suite of tools for digital assets, too.

☆ Crypto is a ‘hot ball of money’ with very little intrinsic value, hedge fund says
▼ + stars: | 2023-01-17 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

For the uninitiated: Momentum trading is in an investment strategy that aims to capitalize on a trend. See a stock going up, buy the stock, make money. See a stock going down, short it, make money. The crypto trading world functions in much the same way. The momentum effect becomes self-fulfilling “as market participants attempt to front run the hot ball of money.”

☆ Crypto has little intrinsic value or fundamentals to fall back on, and traders are merely riding a 'hot ball' of momentum, investment firm says
▼ + stars: | 2023-01-12 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Crypto has little intrinsic value, and traders are merely capitalizing on momentum to take profits,A paper from Starkiller Capital said there is little evidence that fundamentals influence the price of crypto assets. In the absence of fundamentals, traders must rely on a set of narratives to generate momentum. Sign up for our newsletter to get the inside scoop on what traders are talking about — delivered daily to your inbox. That dynamic is likely encouraged by online communities for crypto traders, the large amount of fraud and market manipulation in the industry, and the fact that crypto traders are "very online" and tend to react strongly to the development of particular market narratives. "We believe the momentum effect becomes self-fulfilling as market participants attempt to front run the hot ball of money," the paper said.

☆ Goldman Sachs downgrades this stock as auto market faces a tough macro outlook, names Tesla a top pick
▼ + stars: | 2023-01-11 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Shares of Keysight Technologies look poised for a reset as both the auto and communications infrastructure industries face a difficult macro environment ahead, according to Goldman Sachs. Analyst Mark Delaney downgraded shares of the electronic design and test solutions company that supplies products to the industries like autos, to neutral from buy. He cited increased exposure to a dwindling communications infrastructure market and the company's premium valuation relative to peers. "We expect a slowdown in telecom/communications infrastructure capex given the weaker macroeconomic backdrop, which could negatively impact Keysight's business in our opinion," Delaney wrote in a Tuesday note. Delaney also named General Motors and Tesla as his favored picks in 2023, noting that both companies are leading the way in autonomy.

☆ ETF edge with JPMorgan's Hamilton Reiner
▼ + stars: | 2023-01-09 | 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 EmailETF edge with JPMorgan's Hamilton ReinerHamilton Reiner, JPMorgan asset manager, joins the 'Halftime Report' to discuss active management of ETFs, the importance of fundamentals for fund managers and the potential for a soft landing.

☆ Indian markets may see FPI revival after worst-ever selloff in 2022- analysts
▼ + stars: | 2022-12-30 | by ( Bharath Rajeswaran | ) www.reuters.com time to read: +2 min

BENGALURU, Dec 29 (Reuters) - Foreign investors' selloff in Indian equities was the biggest on record in 2022, dragging the benchmark indexes to their smallest annual gain in four years, but analysts expect purchases by cross-border investors to rebound next year. Foreign portfolio investors (FPIs) sold 1,219.08 billion rupees ($14.73 billion) worth of Indian equities in 2022, till Dec. 29, the biggest selloff in Indian shares in a year since 1993, when data became available. Reuters Graphics Reuters GraphicsThe second-worst FPI selloff was in 2008 at 529.87 billion rupees ($6.40 billion), which triggered a 51.79% fall on the Nifty 50 (.NSEI). Foreign funds purchased around 958.78 billion rupees worth of stocks in the second half of 2022, after being net sellers of shares worth 2,173.58 billion rupees in the first half. Reuters GraphicsDOMESTIC INVESTORS WEIGH INMeanwhile, domestic institutional investors net bought equities worth 2,734.60 billion rupees in 2022, their best year since data became available in 2008, according to National Stock Exchange.

BRUSSELS, Dec 22 (Reuters) - The European Commission said on Thursday it would hold back all 22 billion euros of EU cohesion funds for Hungary until its government meets conditions related to judiciary independence, academic freedoms, LGBTQI rights and the asylum system. The 22 billion euros is the amount of EU cohesion funds that Hungary is to get from the EU's long-term budget between 2021 and 2027. The 22 billion euros for Hungary are earmarked for programmes including education for disadvantaged children, rail transport upgrades, access to broadband and aid for regions affected by coal plant closures. We'll keep working with Hungarian authorities to overcome this situation," said Elisa Ferreira, EU Commissioner for Cohesion and Reforms. On top of the cohesion funds, the EU is also holding back Hungary's 5.8 billion euros in grants from the EU's recovery fund until the government addresses concerns over the independence of courts.

☆ Analysis: Investors count on bonds to rescue battered 60/40 portfolio in 2023
▼ + stars: | 2022-12-21 | by ( David Randall | ) www.reuters.com time to read: +5 min

A 60/40 portfolio, which typically allocates 60% of assets into stocks and 40% into bonds, counts on moves in the two asset classes to offset one another, with stocks strengthening amid economic optimism and bonds rising during uncertain times. So-called 60/40 portfolios, which mix stocks and bonds, are on place for their first down year since 2018. Though market participants tend to avoid bonds during inflationary times, they are a popular destination for haven-seeking investors when the economy wobbles. Consecutive annual declines in the 60/40 portfolio have been rare. Higher-than-expected borrowing costs or rebounding inflation could deal another blow to investors in both stocks and bonds.

☆ Elon Musk's Tesla stock sales are throwing gas on a burning fire, and the EV maker's board may be forced to confront the Twitter sideshow, Wedbush says
▼ + stars: | 2022-12-15 | by ( Carla Mozée | ) www.businessinsider.com time to read: +3 min

Elon Musk's continued sales of Tesla shares as he focuses on his newly acquired Twitter is denting the EV maker's brand, Wedbush analyst Dan Ives said Thursday. The Tesla CEO cashed in another $3.6 billion of Tesla stock this week. A Securities and Exchange Commission filing revealed Wednesday that Musk — the CEO of Tesla and privately held Twitter and Space X — cashed in another $3.6 billion of Tesla stock this week. Tesla stock has plunged about 55% in 2022, partially stemming from some investors seeing Musk's attention on the social media site as a distraction. On Wednesday, Loup Capital's Gene Munster said Musk's mistakes surrounding Twitter is damaging Tesla's brand and he needs "to pull it together."

☆ Missed China's reopening rally? Bank of America names global stocks to ride the second leg
▼ + stars: | 2022-12-15 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

Investors will have a second opportunity to take part in the stock market rally after China announced a relaxation of Covid-19 restrictions, according to Bank of America. The Wall Street bank said Chinese stocks had risen substantially after Beijing's "credible policy easing actions" triggered a risk-on move in markets. The bank said it was now seeing "nascent signs" of fundamental earnings data turning positive for stocks, which is likely to set off the second leg of a market rally. The bank named 30 global stocks exposed to China to leverage the "cyclicals and re-opening" theme. According to Bank of America, nearly a quarter of the company's revenue comes from sales to China.

☆ Trump isn’t the only thing that could rock American democracy
▼ + stars: | 2022-12-08 | by ( Zachary B. Wolf | ) edition.cnn.com time to read: +8 min

In a rare bright spot for democracy in the wake of the US Capitol insurrection, Walker – unlike Trump after 2020 – conceded his loss. But looking to the next election, there’s a brewing fight over which states should have the first say in the presidential primary process. The most core question raised this week is being put to Supreme Court justices. Removing a check from the systemThe leap from Trump’s call to end the Constitution to the independent state legislature theory isn’t that far. Under the map approved by the state Supreme Court and after last month’s midterm elections, the delegation will be an even 7-7 when the new Congress is seated in January.

WANA (West Asia News Agency) via REUTERSWASHINGTON, Dec 2 (Reuters) - The United States on Friday designated China, Iran and Russia, among others, as countries of particular concern under the Religious Freedom Act over severe violations, U.S. Secretary of State Antony Blinken said. Blinken in a statement said those designated as countries of particular concern - which also include North Korea and Myanmar - engaged in or tolerated severe violations of religious freedom. The United States has expressed grave concerns about human rights in the western Chinese region of Xinjiang, which is home to 10 million Uyghurs. The other countries designated as countries of particular concern were Cuba, Eritrea, Nicaragua, Pakistan, Saudi Arabia, Tajikistan and Turkmenistan. Religious Freedom Act of 1998 requires the president – who assigns the function to the secretary of State – to designate as countries of particular concern states that are deemed to violate religious freedom on a systematic and ongoing basis.

☆ The C-Suite Survival Guide to Inflation and Economic Turbulence
▼ + stars: | 2022-11-27 | by ( Brian Hershberg | ) www.wsj.com time to read: +5 min

C-suite executives and other business leaders are planning for a period where inflation is sticky, interest rates are rising, the geopolitical landscape is fraught with tumult and the economy is slowing. U.S. retailers, for instance, are struggling to balance consumer expectations for discounts and the need to keep raising prices to offset high inflation. Real-estate companies are finding it costly to hedge their floating-rate debt amid surging interest costs, and even highly rated companies are pursuing term loans instead of bonds to save on interest costs. In Europe, the war in Ukraine is driving inflation, food shortages, and the prospect of a long, cold winter. Here is how marketing executives can continue to sell their brands to consumers during tight times.

The average year-to-date losses on Thanksgiving days in these years was 10.5%, and the average rise post-Thanksgiving through Dec. 31 was 1.5%. The S&P 500's year-to-date loss on Thanksgiving Thursday this year was 15.5%, having been down as much as 27% in mid-October. chartIf ever there was a year Wall Street was primed to register an above-average whoosh in the last few trading weeks of the year, this is it. Even beyond investors' instinctive "FOMO" (fear of missing out) on the upswing underway, positioning is extremely light and portfolios are historically underweight stocks. Relative to average positioning over the past 10 years, investors' biggest underweight position this month is in stocks.

☆ High interest rates bring winter gloom to Canada's housing market
▼ + stars: | 2022-11-15 | by ( Julie Gordon | Megan Rowling | ) www.reuters.com time to read: +4 min

[1/2] A for sale sign is displayed outside a home in Toronto, Ontario in Toronto, Ontario, Canada December 13, 2021. REUTERS/Carlos Osorio/File PhotoOTTAWA, Nov 15 (Reuters) - Canada's housing market has gone cold, with buyers sidelined by soaring borrowing costs and sellers holding off listing in hopes of a spring rally, while higher interest rates mean prices need to fall more before any rebound materializes, experts say. "We do have quite a bit of fundamental demand still out there ... but the market just can't clear at current prices because of where interest rates have gone," said Robert Kavcic, senior economist at BMO Capital Markets. Variable rate mortgages - home loans in which the interest rate fluctuates based on market conditions - have more than tripled since March, with strict stress tests making qualification even tougher. "If investors aren't interested in buying condos, the whole market starts to slow down," he said.

☆ JPMorgan cuts Carvana price target, asserts used vehicle retailer is 'far from out of the woods'
▼ + stars: | 2022-11-08 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Expect more trouble ahead for Carvana , JPMorgan Chase says. Analyst Rajat Gupta slashed the bank's price target on the used-vehicle seller to $10 from $20 a share, citing the company's mounting net debt and ongoing volume pressures. To be sure, JPMorgan views a downturn scenario where Carvana can ride out the headwinds. But the company's rising net debt and "direction of fundamentals" is not enough to support the current price target, Gupta wrote. JPMorgan's new price target means shares could rally 35% from Monday's close.

☆ Trump defended hosting the Saudi-backed LIV golf tournament by saying 'We have human rights issues' too. Human rights experts agrees and say Trump himself was responsible for many during his presidenc
▼ + stars: | 2022-11-06 | by ( Hannah Getahun | ) www.businessinsider.com time to read: +7 min

Human rights groups have previously called Trump out for exacerbating human rights violations while president. "We have human rights issues in this country too," Trump said on October 30 after reporters asked whether he was concerned about human rights abuses in Saudi Arabia. Human rights groups have acknowledged that the US, like many countries, has its share of human rights issues and violations. Alison Leal Parker, Managing Director for the US Program at Human Rights Watch, told Insider that "the wholesale assault" of fundamental human rights under Trump was "unprecedented." "Every previous administration, including the current one, including the Biden administration, has been responsible for human rights violations," Parker said.

☆ Oil slips on strong dollar after Fed rate hike, tight supply lends floor
▼ + stars: | 2022-11-03 | by ( Arpan Varghese | ) www.reuters.com time to read: +2 min

A strong dollar is dragging down oil, with some market participants also likely booking profits following recent gains, CMC Markets analyst Tina Teng said. read moreA strong dollar reduces demand for oil by making the fuel more expensive for buyers using other currencies. "With the Fed confirming a higher peak in rates, a darkened global economic outlook could continue to pressure the oil futures markets," Teng added. The European Union's embargo on Russian oil for its invasion of Ukraine is set to start on Dec. 5 and will be followed by a halt on oil product imports in February. Reporting by Arpan Varghese and Muyu Xu; Editing by Himani Sarkar and Richard PullinOur Standards: The Thomson Reuters Trust Principles.

☆ The Fed could lay the groundwork for a year end rally in the week ahead
▼ + stars: | 2022-10-28 | by ( Patti Domm | In | ) www.cnbc.com time to read: +8 min

The coming week is also the busiest of the corporate earnings season, with about a third of the S & P 500 companies releasing results. "Historically, the market waits for the last Fed rate hike to be introduced and then the market climbs higher. The S & P 500 was up more than 8.8% for the month. The Dow was up 5.7% on the week, the S & P 500 was up 5.7% and the Nasdaq was up 2.2%. The 50-day moving average is 3,841 for the S & P 500, and it was well above it Friday afternoon for the second time in the past week.

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