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☆ Jim Cramer says an ‘obsession’ with mega-cap tech names is overshadowing a bull market
▼ + stars: | 2023-01-19 | by ( Krystal Hur | ) www.cnbc.com time to read: +1 min

CNBC's Jim Cramer on Thursday said that the carnage in tech stocks is concealing a bull market in other names. Stocks fell Thursday after the Labor Department reported that initial filings for unemployment insurance fell to their lowest level since September, indicating that the labor market remains hot despite the Federal Reserve's interest rate hikes. Shares of companies including Visa , Mastercard , J.P. Morgan Chase and Boeing bottomed late last year, according to Cramer. Cramer, who has remained adamant that investors stay away from mega-cap tech name, told investors to not make the same mistake as Wall Street by getting caught up in tech stock declines. The tech track that can't seem to find its footing, rooted in about 30% of the market, and the other track, which found its footing months and months and months ago," he said.

☆ Jim Cramer says an 'obsession' with mega-cap names is overshadowing a bull market
▼ + stars: | 2023-01-19 | 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 EmailJim Cramer says an 'obsession' with mega-cap names is overshadowing a bull marketCramer said that many non-tech stocks are on a bull run.

☆ Prince Harry's memoir, 'Spare,' which captures the ugly sides of royal life, hits bookshelves
▼ + stars: | 2023-01-10 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Patrick-Smith-Circle-Byline-Template.Jpg | Patrick Smith | ) www.nbcnews.com time to read: +8 min

“There was a new low every few minutes,” Harry wrote of the time after their relationship went public in November 2016. Prince Harry and Prince William at the unveiling of a statue of their mother, Princess Diana at Kensington Palace in London on July 1, 2021. “I don’t think Harry and Megan’s public image is repairable in the U.K.; I think it’s gone beyond that,” she added. Regardless of the danger he felt his family was in, and the disappointment with his family, Harry said he would “forever support my queen, my Commander in Chief, my Granny. Even after she’s gone.”“My problem has never been with the monarchy, or the concept of monarchy.

Fears about the Federal Reserve's plan to keep raising U.S. interest rates have weighed heavily on equities since its policy meeting last week. Among the S&P 500's 11 major sectors, the energy index (.SPNY) gained most, finishing up 1.52% as crude oil prices rose. Advancing issues outnumbered declining ones on the NYSE by a 1.12-to-1 ratio; on Nasdaq, a 1.06-to-1 ratio favored advancers. The S&P 500 posted 1 new 52-week highs and 14 new lows; the Nasdaq Composite recorded 64 new highs and 399 new lows. On U.S. exchanges 10.52 billion shares changed hands, compared with the 11.15 billion average for the last 20 trading days.

In fixed income U.S. Treasury prices fell following the BOJ's shock move, with the benchmark 10-year Treasury yield was rising to a three-week high of 3.69%. Among the S&P 500's 11 major sectors, energy index (.SPNY) was leading gains, up 1.8%, as crude oil prices rose. The materials (.SPLRCM) and financials (.SPSY) sectors were the next biggest gainers with banks benefiting from a rise in Treasury yields. Advancing issues outnumbered declining ones on the NYSE by a 1.45-to-1 ratio; on Nasdaq, a 1.38-to-1 ratio favored advancers. The S&P 500 posted 1 new 52-week highs and 14 new lows; the Nasdaq Composite recorded 44 new highs and 331 new lows.

☆ EU leaders head for tussle over rescue plans for industry
▼ + stars: | 2022-12-15 | by ( John Chalmers | ) www.reuters.com time to read: +3 min

EU Commission President Ursula von der Leyen proposed ahead of the summit to loosen state aid rules in renewable energy and clean-tech to shield European industry. "Some governments have deep pockets and extensive possibilities to support their industry through national schemes, others have not," said one senior EU diplomat. "We don't want a national subsidy race among member states ... but there have to be carefully drafted limits." This has been held up by disagreement over whether or how to offer exemptions for an EU ban on Russia fertiliser exports. A draft of the summit conclusions said leaders would call for more gas deals urgently to replace Russian fuel, including through joint gas buying among EU countries.

☆ Premarket stocks: Why we think we're in a recession when the data says otherwise
▼ + stars: | 2022-12-08 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

New York CNN Business —It seems like you can’t go anywhere these days without colliding headfirst into another ominous prediction of imminent recession. But hidden behind those “CEO PREDICTS RECESSION” headlines lies a lot of uncertainty. “If I didn’t watch CNBC in the morning, the word ‘recession’ wouldn’t be in my vocabulary,” he said. “You just can’t see it in our data.”It’s almost as though Kirby predicted recession was imminent because other prominent voices predicted that recession was imminent. More than 10,000 ambulance workers represented by the GMB Union will strike again on December 28.

☆ Premarket stocks: The corporate world has a succession problem
▼ + stars: | 2022-12-07 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

It’s been a nasty year for Fortune 500 companies and top executives are paying for it: CEOs are exiting in droves. CEO exits eased in the third-quarter, but the C-suite door seems to be revolving again as a slew of Fortune 500 CEOs have said their goodbyes this month. Looking back: One way to avoid the succession problem is to recycle an old CEO. On average, the annual stock performance of companies led by boomerang CEOs was 10.1% lower those with a first-stint leader, he found. Shares of movie theater chain AMC (AMC) have also plummeted 55% this year.

☆ Same-sex couples wary despite federal marriage rights bill
▼ + stars: | 2022-12-06 | by ( Associated Press | ) www.nbcnews.com time to read: +6 min

That prompted Democrats to act quickly to protect same-sex marriage while the party still holds the majority in both chambers of Congress. The Senate passed the Respect for Marriage Act last week with support from 12 Republicans; it’s expected to easily win approval in the House before being signed by President Joe Biden. Ten years later, the U.S. Supreme Court let stand a federal appeals court ruling that declared the state ban unconstitutional. The legislation wouldn’t codify, or enshrine into law, the Supreme Court decision requiring states to issue same-sex marriage licenses. “Is the Respect for Marriage Act good enough?

☆ Wall Street mistakenly overlooking Salesforce's solid quarter by focusing too much on co-CEO exit
▼ + stars: | 2022-11-30 | by ( Jeff Marks | ) www.cnbc.com time to read: +8 min

Sure, cRPO (current remaining performance obligation) was a little light and the fiscal fourth quarter revenue guide midpoint missed by a hair (some conservatism probably due to the uncertain macro environment). Companywide results Breaking down quarterly subscription and support revenue results by cloud: Sales cloud revenue increased 17% in constant currency to $1.7 billion. Service cloud revenue increased 16% in constant currency to $1.9 billion. Platform and other (including Slack, which Salesforce acquired on July 21, 2021) revenue increased 22% in constant currency to $1.5 billion. Guidance For their fiscal fourth quarter, Salesforce management sees revenues increasing 8% to 10% year over year to $7.93 billion to $8.03 billion.

☆ After the Great Resignation and quiet quitting, the era of 'loud layoffs' is here
▼ + stars: | 2022-11-30 | by ( Jennifer Liu | ) www.cnbc.com time to read: +5 min

Within weeks, mass layoffs primarily in tech, including at Twitter, Meta, Amazon, Salesforce, HP, Lyft, Doordash and more, have flooded headlines. And after the Great Resignation and quiet quitting rocked the market, the new era of "loud layoffs" is having an outsized impact on how people feel about their jobs. Why tech layoffs have a chilling effect: It's 'wrapped up with our economic aspirations'Even though they've been concentrated so far, tech layoffs do have an outsized effect on worker sentiment. "The tech industry is wrapped up with our economic aspirations as Americans. The tech industry is wrapped up with our economic aspirations as Americans.

☆ Wall Street dips as growth shares offset energy gains
▼ + stars: | 2022-11-29 | by ( Shreyashi Sanyal | ) www.reuters.com time to read: +3 min

SummarySummary Companies Energy stocks rise, oil prices come off session highsU.S. consumer confidence slips in NovemberIndexes down: Dow 0.32%, S&P 0.41%, Nasdaq 0.57%Nov 29 (Reuters) - Wall Street's main indexes fell on Tuesday as growth stocks extended declines, overshadowing a rise in energy shares after oil prices pared back gains on OPEC+ output concerns. Gains in growth stocks earlier in the day proved short-lived, while U.S. Treasury yields rose. The S&P 500 energy sector index (.SPNY) was up only 0.6%, after rising as much as 2% earlier in the session. Oil prices pared gains on concerns that OPEC+ would keep its output unchanged at its December meeting. The S&P index recorded no new 52-week high and one new low, while the Nasdaq recorded 43 new highs and 123 new lows.

☆ Gold dips as dollar gains on China Covid risks
▼ + stars: | 2022-11-28 | by ( ) www.cnbc.com time to read: +2 min

One kilo gold bars are pictured at the plant of gold and silver refiner and bar manufacturer Argor-Heraeus in Mendrisio, Switzerland, July 13, 2022. Gold prices slipped on Monday, as the dollar strengthened on safe-haven demand triggered by protests in several Chinese cities over the country's strict Covid-19 restrictions. "Gold prices have been tracking the U.S. dollar's moves closely, and increased uncertainty from the growing unrest in China seems to be underpinning the dollar this morning," said IG market strategist Yeap Jun Rong. People may be shifting to defensive assets considering the Covid situation in China, but the dollar's gains are currently overshadowing gold's safe-haven status, Yeap said. Spot silver slipped 1.8% to $21.21, platinum fell 0.3% to $978.00 and palladium declined 0.3% to $1,846.94.

☆ Gold dips as dollar gains on China COVID risks
▼ + stars: | 2022-11-28 | by ( Ashitha Shivaprasad | ) www.reuters.com time to read: +2 min

SummarySummary Companies Dollar index up 0.4%Powell's speech on Wednesday awaitedNov 28 (Reuters) - Gold prices slipped on Monday, as the dollar strengthened on safe-haven demand triggered by protests in several Chinese cities over the country's strict COVID-19 restrictions. Spot gold was down 0.4% at $1,749.00 per ounce, as of 0314 GMT. The dollar index was up 0.4%, making the greenback-priced bullion more expensive for buyers holding other currencies. "Gold prices have been tracking the U.S. dollar's moves closely, and increased uncertainty from the growing unrest in China seems to be underpinning the dollar this morning," said IG market strategist Yeap Jun Rong. People may be shifting to defensive assets considering the COVID situation in China, but the dollar's gains are currently overshadowing gold's safe-haven status, Yeap said.

☆ Diplomatic foes Iran and U.S. clash in winner-takes-all contest
▼ + stars: | 2022-11-27 | by ( Hritika Sharma | ) www.reuters.com time to read: +3 min

Ties have been strained in recent years when then-President Donald Trump pulled the United States out of an Iran nuclear deal. The United States killed a top Iranian general in 2020 and Tehran responded with missile strikes at U.S. forces based in Iraq. The eagerly awaited meeting is a rematch of the 1998 World Cup group stage contest, dubbed the "mother of all games", which Iran won 2-1. Overshadowing Iran's World Cup build-up this year has been civil unrest at home over the September death in police custody of 22-year-old Mahsa Amini, arrested for flouting the country's strict Islamic dress code. They sang quietly on Friday at the Ahmad bin Ali Stadium, where boos and jeers were heard from Iran supporters.

☆ Brazil's federal public debt rises in October due to interest payments
▼ + stars: | 2022-11-25 | by ( ) www.reuters.com time to read: +2 min

BRASILIA, Nov 25 (Reuters) - Brazil's federal public debt increased in October after three consecutive months of decline, official data showed on Friday, driven by debt interest payments. The stock of federal public debt rose 26.29 billion reais from September to 5.778 trillion reais ($1.07 trillion). According to the Treasury, interest payments on public debt totaled 35.39 billion reais, overshadowing 9.11 billion reais in net redemptions of bonds. According to the Treasury, the amount is enough to pay about nine months of debt maturities. The average interest rate on the issuance of domestic federal increased to 11.8% in October from 11.7% the month before.

He will replace Bob Chapek, who took over as Disney CEO in February 2020 just as the COVID-19 pandemic led to park closures and visitor restrictions. Disney disappointed investors this month with an earnings report that showed mounting losses at its streaming media unit that includes Disney+. [1/2] Executive Chairman of the Walt Disney Company, Bob Iger arrives at the world premiere for the film 'The King's Man' at Leicester Square in London, Britain December 6, 2021. Disney did not respond to a request for comment on Trian and Trian did not respond to a request for comment. During his tenure, Disney made several key acquisitions, including Pixar Animation Studios, Marvel Entertainment and 21st Century Fox, and boosted its market capitalization five-fold.

He will replace Bob Chapek, who took over as Disney CEO in February 2020 just as the COVID-19 pandemic hit, leading to park closures and restrictions on visitors globally. Disney disappointed investors this month with an earnings report that showed mounting losses at its streaming media unit that includes Disney+. [1/2] Executive Chairman of the Walt Disney Company, Bob Iger arrives at the world premiere for the film 'The King's Man' at Leicester Square in London, Britain December 6, 2021. IGER'S RETURNSIger exited Disney on a high note as the company led the battle against Netflix in the streaming wars. During his tenure, Disney made several key acquisitions, including Pixar Animation Studios, Marvel Entertainment and 21st Century Fox, and boosted its market capitalization five-fold.

☆ Woman with a rare brain disease says doctors repeatedly dismissed her condition, blaming it on mental illness
▼ + stars: | 2022-11-17 | by ( Marianne Guenot | ) www.businessinsider.com time to read: +9 min

She has since been diagnosed with Moyamoya disease, a rare brain condition that affects fewer than 1 in 100,000 people. However, she said the earlier opinion caused a substantial delay in her Moyamoya diagnosis, adding: "everywhere I went, it followed me first. Moyamoya disease is caused by a narrowing of blood vessels in the brain. However, he noted that, in general, that a condition is rare is no excuse for dismissing a patient's symptoms. Still struggling to access careIn spite of her Moyamoya disease diagnosis, Simpson says she's still struggling to access support.

[1/2] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., November 15, 2022. Despite the sales warning from Target, latest data on U.S. retail sales suggested that consumer spending remained stable and could help to underpin the economy in the fourth quarter. The data showed retail sales rose 1.3% last month after remaining flat in September. Economists polled by Reuters had forecast sales accelerating 1%. ET, Dow e-minis were down 57 points, or 0.17%, S&P 500 e-minis were down 14.25 points, or 0.36%, and Nasdaq 100 e-minis were down 71 points, or 0.6%.

☆ What Cramer is watching Wednesday — retail sales strong, Lowe's delivers, Estee Lauder love
▼ + stars: | 2022-11-16 | by ( Jim Cramer | ) www.cnbc.com time to read: +4 min

Revenue: $26.52 billion versus $26.38 billion expected. Revenue: $23.48 billion versus $23.13 billion expected. Oppenheimer raises Club holding Estee Lauder (EL) price target to $245 per share $230. Bofa also likes the deal and thinks it will give Estee Lauder $800 million to $1 billion in sales. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ G20 starts in Bali as Ukraine war, raging inflation top agenda
▼ + stars: | 2022-11-15 | by ( Angie Teo | ) www.reuters.com time to read: +6 min

[1/10] China's President Xi Jinping greets Indonesia's President Joko Widodo as he arrives for the G20 leaders' summit in Nusa Dua, Bali, Indonesia, November 15, 2022. "We hope the G20 summit can deliver concrete partnerships that can help the world in its economic recovery," President Joko Widodo said after a bilateral meeting with Biden. But Xi and Putin have grown increasingly close in recent years, and reaffirmed their partnership just days before Russia invaded Ukraine. A statement from the Chinese foreign minister said Xi told Biden nuclear weapons cannot be used and nuclear wars cannot be fought. G20 leaders will denounce the use of, or any threat to use, nuclear weapons, according to an early draft of a G20 statement seen by Reuters.

☆ EU executive to outline gas price 'correction mechanism' on Friday -sources
▼ + stars: | 2022-11-10 | by ( Gabriela Baczynska | ) www.reuters.com time to read: +3 min

BRUSSELS, Nov 10 (Reuters) - The European Commission will propose a gas price "correction mechanism" to the 27 EU states on Friday, a measure aimed at easing price spikes but not the firm cap sought by many countries, according to sources and documents seen by Reuters. The European Union has been in a tug of war over a gas price cap, with a dozen-or-so member countries calling for various versions of such a measure to cut prices amid an acute energy crunch that is driving record-high inflation. But Germany, the bloc's biggest economy, the Netherlands and the EU executive Commission say a cap would risk putting off suppliers and reduce incentives to bring down gas consumption. The Commission told EU countries that a "comprehensive hard" cap on TTF, Europe's main natural gas futures market used as the benchmark price, would all but fail to lower prices while also drawing legal and supply risks, according to an EU diplomat. An EU official said the Commission - at a closed-door meeting with 27 national envoys starting at 0800 GMT on Friday - would outline thinking around a "market correction mechanism" instead, which would amount to "a price corridor" on TTF.

☆ Remaking the River That Remade L.A.
▼ + stars: | 2022-11-10 | by ( Michael Kimmelman | Photographs Adali Schell | ) www.nytimes.com time to read: +33 min

Remaking the River That Remade L.A.February 1938 was a wet month in Los Angeles. Reservoirs overflowed, dams topped out and floodwaters careered down Pacoima Wash and Tujunga Wash toward the Los Angeles River. The Los Angeles River was never a storybook river of the kind that, like the Hudson or the Seine, we associate with great cities. Among the naysayers is a venerable organization called Friends of the Los Angeles River, founded by the Texas-born poet and performance artist Lewis MacAdams. “With all the problems L.A. is facing,” he said, “even if it costs $50 billion to fix the river, we should just effing do it.”The headwaters of the Los Angeles River aren’t easy to find.

☆ Ex-Obama advisor says global events are overshadowing climate change efforts: 'We are not acting swiftly enough'
▼ + stars: | 2022-11-08 | by ( Anmar Frangoul | ) www.cnbc.com time to read: +1 min

COP27, which is being held in Sharm el-Sheikh, Egypt, is taking place at a time of significant global volatility. During her interview with CNBC, it was put to Hill that climate change often slipped down the pecking order compared to other global challenges and events. "Climate change has suffered from the problem that I learned in the White House," she said. "When I worked in the White House, [it] quickly became apparent that the urgent would overtake the important," she added. "Of course, climate change is now urgent."

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