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☆ Davos 2024 live updates: Barclays CEO 'very' optimistic on UK; AI dominates conversations
▼ + stars: | 2024-01-18 | by ( Lucy Handley | ) www.cnbc.com time to read: 1 min

Barclays CEO C.S. Venkatakrishnan said he is "very optimistic" about the outlook for the U.K. economy, speaking to CNBC at the World Economic Forum in Davos, Switzerland. "I think the U.K. consumer is in very decent shape ... The typical products on offer to U.K. consumers are two-year and five-year mortgages. So the two things that have hit the pocket book are coming down, and I will say I'm very optimistic on the U.K.," he added.

Persons: Venkatakrishnan, — Lucy Handley Organizations: Barclays, C.S, CNBC, Economic Locations: Davos, Switzerland

Notably, the report suggested that inflation was not as powerful a force as it had been a few months back. These numbers point to a strong spring, especially with the Fed getting more dovish. “Both changes would support the economy and extend growth, but also likely weaken the US dollar,” Khurana says. Businesses are entering 2024 in a positive mood, according to Dun & Bradstreet’s quarterly Global Business Optimism index released on Tuesday. The National Association of Homebuilders’ sentiment index improved in January to its highest level since September.

Persons: “, ”, David Russell, Chip, ” Brij, Khurana Organizations: Federal Reserve, “, Fed, Wellington Management, National Association of Locations: York, Dun

☆ 20 metro areas expected to see the fastest-appreciating real estate in 2024 and 5 most at risk of declining. Plus, what will happen to mortgage rates, according to a property data firm.
▼ + stars: | 2024-01-15 | by ( Laila Maidan | ) www.businessinsider.com time to read: +4 min

Tight inventory, combined with pent-up demand, kept prices in an uptrend last year despite 23-year-high mortgage rates, according to Selma Hepp, CoreLogic's chief economist. AdvertisementCooling mortgage rates and newly built homes will help bring more houses on the market but won't create enough inventory to outpace demand, wrote Hepp. She isn't expecting much change to mortgage rates but said that they will likely be slightly higher from January to February, in line with historical trends that precede the busy spring sales season. If inflation remains tamed and trending downward, and the Federal Reserve begins cutting rates as a response, declining mortgage rates would follow, she added in an email to Business Insider. Metro area Forecasted YOY % change Redding CA Metropolitan Statistical Area 7.30% Santa Maria-Santa Barbara CA Metropolitan Statistical Area 6.81% Bremerton-Silverdale WA Metropolitan Statistical Area 6.51% Coeur d'Alene ID Metropolitan Statistical Area 6.49% Fairbanks AK Metropolitan Statistical Area 6.38% Santa Rosa CA Metropolitan Statistical Area 6.37% Corvallis OR Metropolitan Statistical Area 6.36% Merced CA Metropolitan Statistical Area 6.32% Bend-Redmond OR Metropolitan Statistical Area 6.29% Mount Vernon-Anacortes WA Metropolitan Statistical Area 6.20% Grand Junction CO Metropolitan Statistical Area 6.09% Longview WA Metropolitan Statistical Area 6.07% Pocatello ID Metropolitan Statistical Area 6.00% Casper WY Metropolitan Statistical Area 5.99% Walla Walla WA Metropolitan Statistical Area 5.88% Lewiston ID-WA Metropolitan Statistical Area 5.87% Santa Cruz-Watsonville CA Metropolitan Statistical Area 5.81% Prescott AZ Metropolitan Statistical Area 5.70% Lakeland-Winter Haven FL Metropolitan Statistical Area 5.67% Kahului-Wailuku-Lahaina HI Metropolitan Statistical Area 5.63%The list below is CoreLogic's forecast for the five metro areas that are at the highest risk of price declines.

Persons: —, Selma Hepp, it's, Hepp, isn't Organizations: Service, Business, Federal Reserve, Redding, Santa Barbara, Metropolitan, Silverdale WA Metropolitan, Coeur, Fairbanks AK Metropolitan Statistical, Santa, Corvallis, Longview, Longview WA Metropolitan, Casper, Casper WY Metropolitan, Walla Walla WA Metropolitan, Lewiston, Prescott, Prescott AZ Metropolitan, Lakeland Locations: Metro, Maria, Santa, Bremerton, Silverdale WA, Coeur d'Alene, Santa Rosa, Merced CA, Redmond, Vernon, Anacortes WA, Longview WA, Pocatello, Casper WY, Walla Walla WA, Santa Cruz, Watsonville CA, Prescott AZ, Haven, Lahaina HI

Last year, it seemed like rates would never stop climbing, with 30-year mortgage rates reaching a more than two-decade high in October 2023. The latest housing market predictions for 2024 see home prices rising this year as lower mortgage rates drive an increase in homebuying demand. High mortgage rates have kept a lot of would-be buyers out of the market over the past couple of years. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates would impact your monthly payments. Once the Fed cuts rates, mortgage rates should fall even further.

Persons: you'll, Freddie Mac, they've, it's Organizations: Zillow, Federal Reserve Locations: Chevron

☆ Earnings playbook: Your guide to trading this week's biggest reports, including Goldman Sachs
▼ + stars: | 2024-01-15 | by ( Fred Imbert | ) www.cnbc.com time to read: +6 min

Data compiled by The Earnings Scout shows the early reporters have had no trouble beating earnings expectations so far. Tuesday Goldman Sachs is set to report earnings before the bell, followed by a conference call at 9:30 a.m. What history shows: Goldman exceeds earnings expectations 85% of the time, data from Bespoke Investment Group shows. What history shows: Bespoke data shows PNC tops earnings expectations 75% of the time. What history shows: KeyCorp shares have fallen on four of the last five earnings days, Bespoke data shows.

Persons: Goldman Sachs, Morgan Stanley, Hugh Son, Goldman, James Gorman, Ted Pick, it's, Jefferies, Schlumberger, SLB, Wells, Roger Read Organizations: JPMorgan Chase, Bank of America, Citigroup, Wall, PNC Financial, CNBC, Investment Group, Management, LSEG, PNC, Regional Banking, JPMorgan, UST, Schlumberger Locations: Wells Fargo, Cleveland, Pittsburgh, 3Q23, SLB

☆ This is not a soft landing, and reaccelerating growth will bring back a more hawkish Fed, economist says
▼ + stars: | 2024-01-11 | by ( Aruni Soni | ) www.businessinsider.com time to read: +2 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementSo what's turning up the heat in the economy that could herald a hawkish return? "Non-cyclical components have continued to see strong growth in particular with strong post-Covid tailwinds to restaurants, hotels, and airlines," the economist explained. That pent-up demand that gushed over the economy after the pandemic wore off is still stoking consumer spending today, according to Sløk. Cyclical components of GDP growth rebounding Apollo ManagementMeanwhile, financial conditions have been easing since Silicon Valley Bank collapse in March last year.

Persons: —, Apollo, Torsten Sløk, Sløk Organizations: Service, Federal, Business, Fed

☆ US home prices jump another 5% on tumbling mortgage rates and tight supply
▼ + stars: | 2024-01-10 | by ( George Glover | ) www.businessinsider.com time to read: +2 min

US home prices climbed 5.2% year-over-year in November, according to CoreLogic. Falling mortgage rates and a dwindling supply have helped prop up the market. AdvertisementUS home prices have continued to climb, according to CoreLogic data, with tumbling mortgage rates helping prop up the nation's supply-starved housing market. The US housing market stagnated last year – but there have been signs of a thaw in recent months, with mortgage rates falling away from 23-year highs. Home prices rose the most in the US's northeastern region in November – with the Rhode Island, Connecticut, and New Jersey housing markets each experiencing double-digit year-over-year growth.

Persons: Selma Hepp, —, Freddie Mac Organizations: Service, Biden Administration, National Association of Realtors Locations: –, Rhode Island , Connecticut, New Jersey, Idaho , Utah, Washington

☆ Home prices are surging — and Detroit gained the most in November, beating Miami for the first time
▼ + stars: | 2024-01-09 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +1 min

Home prices are rising faster and faster each month, fueled by a decline in mortgage rates. Areas seeing year-over-year price declines in November were Idaho (-1.3%); Utah (-0.4%); and Washington, D.C. (-0.2%). The lower the mortgage rate, the greater the buying power for consumers. While prices are expected to soften slightly later next year, much of that will depend on supply. At current low supply levels and demand increasing due to lower mortgage rates, for now at least, prices have nowhere to go but up.

Persons: Selma Hepp, CoreLogic Organizations: Northeast, Rhode, D.C Locations: Connecticut, New Jersey, Idaho, Utah, Washington

NEW YORK (AP) — The highly-anticipated trailer for Grand Theft Auto VI arrived a little early after a copy was leaked online. In an early Tuesday brief, Raymond James analysts said that they originally expected Grand Theft Auto VI to arrive in the 2024 holiday season. "It is simply a shift rather than a reduction in expectations.”The first Grand Theft Auto hit store shelves back in 1997. Grand Theft Auto VI will arrive more than a decade after Grand Theft Auto V's 2013 release. Stifel researchers pointed to “exceptionally strong” buzz and pent-up demand following the Grand Theft Auto VI teaser — pointing to the tens of millions of views collected within hours.

Persons: Lucia, Raymond James &, Raymond James, hasn't, ” Organizations: Rockstar Games, Rockstar, Twitter, Software Inc, Associated, Auto, City, Raymond James & Associates, VI, PlayStation Locations: New York, Miami

☆ More US home buyers willing to purchase despite high rates -BofA study
▼ + stars: | 2023-12-04 | by ( Nupur Anand | Thomson Reuters | Nupur Anand Is A U.S. Banking Correspondent At Reuters In New York. She Focuses On Jpmorgan Chase | ) www.reuters.com time to read: +2 min

REUTERS/Sarah Silbiger/File Photo Acquire Licensing RightsNEW YORK, Dec 4 (Reuters) - U.S. home buyers are becoming more willing to purchase properties even as interest rates stay high, according to a study by Bank of America (BAC.N) published on Monday. That compares with average 30-year fixed mortgage rates that surged to 8% in October, the highest in more than two decades, which deterred buyers. They also sold their homes for career or family reasons or to seek a lower cost of living. New-home sales dropped 5.6% to a seasonally adjusted annual rate of 679,000 units last month as mortgage rates squeezed out buyers. Reporting by Nupur Anand in New York; Editing by Lananh Nguyen and Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.

Persons: Sarah Silbiger, Matt Vernon, “, ”, Vernon, Nupur Anand, Lananh Nguyen, Leslie Adler Organizations: REUTERS, Bank of America, Reuters, Federal Reserve, Homeowners, U.S, Wall, Thomson Locations: Washington , U.S, U.S, Vernon, New York

☆ OpenAI COO Brad Lightcap talks about ChatGPT launch, Dev Day and how Sam Altman thinks
▼ + stars: | 2023-12-04 | by ( Hayden Field | ) www.cnbc.com time to read: +23 min

And I think that's just a testament to the world being really big and messy, and that these systems are still evolving, they're still really in their infancy. That may be a thing that's useful in your work, or maybe a thing that's useful in your life, or it may just be a fun thing – it may just be that you create a funny GPT and it's a cool thing to have. High-level, we always knew that we wanted to have a structure that, at its core, retained the original OpenAI – the OpenAI nonprofit. So that's the first thing to understand, I think, about OpenAI: It's not a normal company in that sense. We have shared that we have an initial board now, and expect to add more board membersWhat's the general mood like at the company right now?

Persons: OpenAI, Sam, Altman, Brad Lightcap, Lightcap, ChatGPT, OpenAI's, Bret Taylor, Larry Summers, Adam D'Angelo, Dev Day, DALL, we'd, doesn't, haven't, they've, – there's, There's, …, We're, we've, Dev, It's, You've, Sam Altman, reappointment Organizations: CNBC, Fortune, Microsoft, ChatGPT Enterprise, OpenAI, OpenAI's Locations: San Francisco

Even including the sale of Heathrow, this year is the slowest for airport transactions in the past decade, totalling $5.9 billion globally to date, according to Dealogic data. They have hired Mediobanca (MDBI.MI) and Credit Agricole (CAGR.PA) to find a buyer for a sale of their 49% stake in the company, the people said. Heathrow's sale valued the airport at 14.3 times EBITDA, according to JP Morgan analysis published on Wednesday. UK's Esken (ESKN.L), owner of regional Southend Airport, said in June it had started a process for the sale of the airport. On Thursday, Hungary's state-owned Corvinus and Vinci Airports notified the European Commission of a proposed joint takeover of Budapest's airport, according to a document posted on the EU website.

Persons: Andras Kranicz, GIP, Australia's Macquarie, Spain's, Ferrovial, Agata Lyznik, Mediobanca, Gianni, Origoni, Nico Torrisi, Morgan, UK's, France's Vinci, Vinci, Corvinus, Emma, Victoria Farr, Andres Gonzalez, Elisa Anzolin, Joanna Plucinska, Mathieu Rosemain, Anousha Sakoui, Elaine Hardcastle Organizations: LONDON, Heathrow, BNP, Global Infrastructure Partners, AGS Airports, Southampton, Australia's, International, ACI, Airports, Macquarie, Credit Agricole Assurance, 2i, Credit, SAC, Gatwick, Southend Airport, Global Infrastructure Fund, Vinci Airports, European Commission, EU, Thomson Locations: Edinburgh, Italy, FRANKFURT, Spanish, Europe, Aberdeen, Glasgow, Heathrow, France, Hungary's, Budapest's

☆ Gucci staff strike over plans to relocate to Milan
▼ + stars: | 2023-11-29 | by ( Christy Choi | ) edition.cnn.com time to read: +3 min

CNN —Dozens of employees at Italian fashion house Gucci staged a strike on Monday to protest the company’s decision to move its design office from Rome to Milan. CGIL has argued that asking staff to move to Milan, approximately 300 miles north of the capital, in the first half of 2024 was tantamount to laying them off. Alessandro Garofalo/ReutersFollowing the departure of creative director Alessandro Michele in 2022, Gucci owner Kering shook up the label’s top management. While sales of luxury goods were on a tear earlier in the year, the market cooled in the second half of 2023. The designer gave the old Gucci codes a refresh sending babydoll dresses, tailored short suits, fringed skirts, hoodies and bejeweled knitwear down the runway.

Persons: Gucci, CGIL, ”, Gucci’s, Sabato De Sarno, Alessandro Garofalo, Alessandro Michele, Kering, Valentino, Marco Bizzarri, Jean, François, Yves, Yves Saint Laurent, Bottega, ” Gucci, De Sarno, “ Gucci Ancora ”, “, Julia Roberts, Ryan Gosling, Jessica Chastain, Kendall Jenner, Julia Garner, bejeweled Organizations: CNN, Reuters, Yves Saint, Gucci Locations: Rome, Milan, Bottega Veneta, Balenciaga

☆ White House puts corporate 'price gouging' front and center: 'We see American families hurting'
▼ + stars: | 2023-11-29 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +3 min

Companies should pass those savings on to consumers," White House Press Secretary Karine Jean-Pierre told reporters aboard Air Force One, en route to Colorado. "That's why taking on price gouging has been part of the President's economic agenda." But drawing a direct line from corporate pricing practices to how voters feel about the economy could prove challenging for the Biden White House. "Whether it's junk fees, whether it's price gouging, whether it's calling out big pharma, whether it's calling out big oil, we're going to continue to do that," Jean-Pierre said Tuesday. "Because of the price gouging, we see American families hurting," she said.

Persons: Joe Biden, Joe Biden's, Karine Jean, Pierre, Biden, Jean Organizations: Warehouse Union, Pacific Maritime Association, White, Companies, House Press, Air Force, Black, Biden White, Consumers Locations: Washington ,, Colorado

☆ Make these 5 investments as stocks climb to record highs in 2024, according to top strategists at Bank of America and BMO Capital Markets
▼ + stars: | 2023-11-28 | by ( James Faris | ) www.businessinsider.com time to read: +8 min

COVID), and active funds are hugging their benchmarks," Subramanian wrote in a note about her 2024 outlook. "We're bullish not because we expect the Fed to cut, but because of what the Fed has accomplished," Subramanian wrote. BMO Capital MarketsBofA analysts are calling for slower inflation, better profit margins, and improved efficiency, Subramanian wrote. BMO is less optimistic about energy stocks since they've lagged behind oil prices in the last year. Consumer discretionary is a strong bet if interest rate hikes are over and consumers keep spending, Subramanian wrote.

Persons: Brian Belski, Belski, Savita Subramanian, Subramanian, Bank of America BMO's Belski, he's, boomers, BofA Organizations: Bank of America, BMO Capital Markets, Business, BMO, Federal Reserve, " Bank of, Energy, BMO isn't Locations: Ukraine, Israel

☆ New home sales fell last month as mortgage rates hit 2023 high
▼ + stars: | 2023-11-27 | by ( Anna Bahney | ) edition.cnn.com time to read: +2 min

Washington, DC CNN —New home sales in the United States fell in October as typical mortgage rates reached their highest levels this year. This was below analysts’ expectations of an annualized sales pace of 723,000. The average mortgage rate for that loan has been lower recently, dropping down to 7.29% last week, according to Freddie Mac. New home builders often offer more financing options for homebuyers, she said, and are able to “buy down” mortgage rates to make their offerings more attractive than the resale market. With [mortgage] interest rates anticipated to drop in the coming year, more resale homes may go on the market – however there remains significant pent-up demand from buyers,” Mangold said.

Persons: Freddie Mac, ”, Kelly Mangold, ” Mangold, “ Organizations: DC CNN, US Department of Housing, Urban Development, Census, Federal Reserve, Real Estate Consulting, homebuyers Locations: Washington, United States

☆ Evercore ISI says scoop up these tax loss 'leftovers' that are trading cheaply at year-end
▼ + stars: | 2023-11-27 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

Analyst Julian Emanuel said investors should consider snapping up stocks that Evercore ISI calls "tax loss targets." Such stocks are being sold by investors looking to realize their losses and cut their 2023 tax bill before year-end. The average analyst has a buy rating and price target implying upside of about 32%, according to LSEG. The average analyst has a buy rating on the stock with a price target reflecting upside of nearly 39%, per LSEG. In addition to holding an average buy rating, analysts polled by LSEG forecast a price target implying Corteva could rally nearly 26% over the next year.

Persons: Julian Emanuel, Emanuel, there's, Aptiv, Piper Sandler, FactSet, Alexander Potter, LSEG, OkCupid, — CNBC's Michael Bloom Organizations: ISI, Pfizer, Aptiv, CNBC Pro, Wall, LSEG Locations: Israel

☆ ‘Stop the price-gouging’: Biden hits corporations over high consumer costs
▼ + stars: | 2023-11-27 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +3 min

President Joe Biden took aim at corporations Monday for charging prices he said were artificially high even though the rate of inflation has slowed and some shipping costs have fallen. "We understand that people are still not feeling it, we get that," White House Press Secretary Karine Jean-Pierre said Monday, ahead of the president's supply chain event. The price hikes were driven by a combination of pent-up consumer demand, pandemic-era ecomonic stimulus and ongoing supply chain snarls. Biden's new Supply Chain Resilience Council, launched Monday, will aim to help keep the momentum of that recovery going. As part of the council's creation, Biden also announced 30 different initiatives to help ease supply chain pressures and and prevent future shortages for products like drugs and semiconductors.

Persons: Joe Biden, Eisenhower, Biden, Karine Jean, Pierre, they're Organizations: White House Council, Resilience, White, House Press, Bureau of Labor Statistics, Chain Resilience Locations: United States, Washington , U.S

☆ This Wisconsin county has voted for the winning presidential candidate since 1996, one of the longest such streaks in the country
▼ + stars: | 2023-11-26 | by ( John L. Dorman | ) www.businessinsider.com time to read: +3 min

Sticking out into Lake Michigan, Door County is one of Wisconsin's most picturesque jurisdictions. Door County is also a presidential bellwether, having backed the winning candidate since 1996. In 2020, now-President Joe Biden defeated then-President Donald Trump in Door County 49.9%-48.5%, or by roughly 1.4 points. Door County has a habit of making itself stand out among the state's 72 counties, backing the winning presidential candidate in every election since 1996, one of the longest such streaks in the country. (Like many communities in the Midwest, Door County has long had seasonal workers work on farms and in other local businesses.)

Persons: —, Joe Biden, Donald Trump, Biden, Hillary Clinton, Clinton, Ronald Reagan, Bill Clinton's, George W, Bush's, Barack Obama's Organizations: Service, Trump, Wisconsin, GOP, Midwest, The Washington Post Locations: Lake Michigan, Wisconsin, swingiest, Door County, Door, Sturgeon

☆ Why American consumers may finally slow their spending, in charts
▼ + stars: | 2023-11-26 | by ( Christopher Hickey | ) edition.cnn.com time to read: +5 min

Some experts think the combination of high housing costs, rising credit card debt and shrinking savings could mean the end of post-Covid splurges, maybe even as soon as this year’s holiday shopping season. Here are the pressures consumers are facing that could cause a spending slowdown. Keeping up with high prices not only has led to more credit card debt, but also more consumers are falling behind on the payments. Since the first quarter of 2022, the rate of newly serious delinquent credit card debt has risen roughly 90%. And that would mean Americans may be forced to finally pull back on their post-Covid spending spree.

Persons: “, ”, Erik Lundh, Freddie Mac, ” Lundh, Lundh, they’ve Organizations: Conference, Intercontinental Exchange, ICE, New York Federal Reserve, Social Security Administration, San Francisco Federal Reserve, SF Fed, New York Fed, Covid Locations: people’s

☆ How Emirates will keep the world's largest airliner flying for years to come —even though Airbus doesn't make it anymore
▼ + stars: | 2023-11-25 | by ( Taylor Rains | ) www.businessinsider.com time to read: +4 min

Emirates announced investments of more than $1.5 billion to keep its 119-strong fleet of Airbus A380s flying. While Airbus shut down production of the A380 in 2021, the move shows Emirates' continued commitment to the jet. AdvertisementAlthough global airlines continue to retire the mammoth Airbus A380 in favor of more fuel-efficient twin-engine aircraft, Emirates is long from giving up on its flagship airplane. AdvertisementThe billion-dollar investment comes despite Airbus shutting down production of the A380 in 2021 after sending off its last double-decker to Emirates. In January, the first of 67 superjumbos completed its full cabin overhaul as part of Emirates' $2 billion retrofit program.

Persons: —, Sir Tim Clark, Clark, Bob Lange, Alan Joyce Organizations: Emirates, Airbus, Service, Dubai Airshow, Collins Aerospace, Honeywell, Pratt & Whitney, Lufthansa Technik, Boeing, British Airways, Qantas, Korean, CNN Locations: Emirates, UAE, London, Los Angeles . Emirates

Prior to the February 2022 invasion, Chinese cars accounted for less than 10% of the Russian market. Russia has jumped from 11th place to become China's largest export market for cars, reaching a value of $9.4 billion in January-October, Chinese customs data showed. Overall, monthly car sales in Russia are now more than double what they were a year ago, Autostat data showed, while separate data from federal statistics service Rosstat showed car production was nearly three times higher in September year-on-year, underlining the sector's partial recovery. 'UNSTABLE, SHAKY' MARKETSanctions against Russia contributed to lower car production and sales most notably in 2022, but also after Moscow annexed the Crimean peninsula from Ukraine in 2014. Meanwhile, the rouble's slide to 100 against the dollar this year has made imports more expensive, depressing purchases of Chinese cars.

Persons: PPK, Sergei Udalov, Udalov, Russia's, Natalia Zubarevich, Zubarevich, Gleb Stolyarov, Alexander Marrow, Zoey Zhang, Vineet Sachdev, Mike Collett, White, Mark Potter Organizations: Reuters, Reuters Graphics, Chery, Geely, HK, West shuns, Autostat, Russia, Western, Reuters Graphics Reuters, Moscow State University, Wages, Lada, Thomson Locations: MOSCOW, Russia, Moscow, Ukraine, Soviet, Beijing, China, West shuns Russia, Western

☆ US new vehicle sales to rise in November on strong demand - report
▼ + stars: | 2023-11-22 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Carlos Barria/File Photo Acquire Licensing RightsNov 22 (Reuters) - New vehicle sales in the United States are expected to rise in November, a report from industry consultants showed on Wednesday, as demand for the latest models remains strong and inventories improve. U.S. new vehicle sales, including retail and non-retail transactions, are estimated to reach 1,236,000 units in November, a 10.2% jump from a year earlier, according to the joint forecast report by J.D. "Sales growth is being enabled by improving vehicle availability," said Thomas King, president of the data and analytics division at J.D. Inventory pile-up, however, led to a 1.9% year-on-year decline in transaction prices with an average price of new retail vehicles at $45,332. Power and GlobalData have also raised the annual forecast for global light-vehicle sales to 89.3 million units, up 10% from last year, on strength in China demand.

Persons: Carlos Barria, J.D ., Thomas King, J.D, Jeff Schuster, Ananta Agarwal, Shweta Agarwal Organizations: REUTERS, J.D, Thomson Locations: Port of Richmond, San Francisco , California, United States, ., China, Bengaluru

☆ Global smartphone market sees growth after over 2 years in October - Counterpoint
▼ + stars: | 2023-11-22 | by ( ) www.reuters.com time to read: +1 min

A smartphone is seen on a selfie stick in Manhattan, in New York City, New York U.S., February 11, 2022. REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsNov 21 (Reuters) - The global smartphone market returned to growth in October after more than two years of slump, helped by a recovery in the emerging markets, according to data from Counterpoint Research. The data showed that global monthly smartphone sell-through volumes grew 5%, making October the first month to record year-on-year growth since June 2021, breaking the streak of 27 consecutive months of negative year-on-year growth. The global smartphone sales have been under stress for last two years affected by various issues starting with component shortages, inventory build-up and lengthening of replacement cycles, Counterpoint said in its report. "Following strong growth in October, we expect the market to grow year-on-year in the fourth quarter of 2023 as well, setting the market on the path to gradual recovery in the coming quarters," the market research firm said.

Persons: Andrew Kelly, Baranjot Kaur, Rashmi Organizations: New York City , New York U.S, REUTERS, Counterpoint Research, Thomson Locations: Manhattan, New York City , New York, East, Africa, China, India, Bengaluru

☆ Japan's Nikkei seen rising to 35,000 by mid-2024 on earnings boost: Reuters poll
▼ + stars: | 2023-11-21 | by ( Kevin Buckland | ) www.reuters.com time to read: +3 min

A man looks at an electric board displaying the Nikkei stock average outside a brokerage in Tokyo, Japan June 14, 2023. The median forecast for the Nikkei's level in mid-2024 was 35,000, with responses ranging from 31,143 to 39,500, the Reuters poll of 10 stocks strategists taken Nov. 10-20 showed. Japan's equity benchmark started this week by pushing to its highest level since March 1990 at 33,853.46 following a three-week winning streak. That would mean some stagnation for equities in the latter half of next year, with the Nikkei still stuck at 35,000 at year-end, according to the median poll response. "35,000 looks to be about the level where Nikkei gains line up with the timing of the BOJ getting rid of negative interest rate policy," Sycamore said.

Persons: Kim Kyung, Masayuki Kichikawa, IG's, Tony Sycamore, Sycamore, Kevin Buckland, Junko Fujita, Noriyuki, Rahul Trivedi, Pranoy, Alex Richardson Organizations: Nikkei, REUTERS, Rights, Bank of Japan, Federal, Sumitomo Mitsui DS Asset Management, Thomson Locations: Tokyo, Japan, IG's Sydney

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