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☆ Citigroup tells clients how they can invest in the outer space 'goldrush'
▼ + stars: | 2023-04-19 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

Investors should choose carefully when investing in the outer space "goldrush" because it's a tough, capital-intensive business, according to Citigroup. Right now, Citi believes the best space-related investment is Planet Labs . It also initiated coverage of Rocket Lab and Canadian space technologies company MDA , but with neutral ratings. PL YTD mountain Planet Labs year-to-date performance Planet Labs is a provider of global, daily satellite data. Another way to play the theme is to look at incumbent aerospace and defense names that are committed to their space business, according to Citi.

☆ Apple's new financial product reinforces its ecosystem
▼ + stars: | 2023-04-17 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +4 min

Apple 's (AAPL) latest banking offering — a savings account with a 4.15% annual percentage yield — bolsters the Club's own-it, don't-trade-it mantra. Apple's high-yield savings account is available Monday for users of its Goldman Sachs (GS)-backed credit card. The savings account is unlikely to have a material impact on Apple's profit-and-loss statement — but that's not its fundamental purpose. Like Apple's other financial services — including Apple Pay — the savings account is largely about boosting the long-term attractiveness of owning an iPhone, the crown jewel of its hardware lineup. As a result, investors are willing to pay up for services revenue, which in practice translates into a higher price-to-earnings multiple (P/E) on Apple's stock.

☆ U.S. Education Secretary Cardona on transgender athletes, student debt, history lessons
▼ + stars: | 2023-04-11 | by ( ) www.reuters.com time to read: +5 min

TRANSGENDER YOUTH ATHLETESA recent Title IX proposed rule from the Department of Education prohibits outright bans in transgender athletes in sports, but allows schools to keep them from some teams. The Department of Education hopes to take feedback and have the rule finalized in time for the next school year, he said. "I do believe there are very deliberate attempts to attack public education so that a private voucher option sounds better," Cardona said. Florida is one of several states that have banned public schools from teaching "Critical Race Theory," an academic framework that teaches that racism is embedded in U.S. laws, policies and institutions. Cardona said he intended to double down on ensuring access to education for all students.

☆ German smart thermostat maker clinches top-up from U.S. investor
▼ + stars: | 2023-04-04 | by ( ) www.reuters.com time to read: +1 min

NEW YORK, April 4 (Reuters) - 08German thermostat maker Tado has secured 12 million euros ($13.08 million) from U.S. investor S2G Ventures, it said on Tuesday, two months after it raised funds to expand in an increasingly energy-conscious European market. The need to actively manage household heating, often fuelled by gas, became a top political priority last year after the Russian invasion of Ukraine. Data gathered by Tado from hundreds of households where it has installed meters suggested Europeans were heeding calls from politicians to conserve energy. The top-up bolsters the Munich-based company's fundraising to 55 million euros ($59.93 million) so far in 2023 when it expects to reach profitability. The funding announcement comes weeks after major start-up supporter Silicon Valley Bank collapsed, prompting panic among venture-stage firms, particularly in North America.

☆ Stocks climb and U.S. yields fall after inflation data
▼ + stars: | 2023-03-31 | by ( Chuck Mikolajczak | ) www.reuters.com time to read: +4 min

On the heels of the inflation data, Boston Federal Reserve president Susan Collins said it remains "early days yet" for the central bank in determining whether the Fed has hiked rates enough to lower inflation to its 2% target. The pan-European STOXX 600 index (.STOXX) rose 0.66% and MSCI's gauge of stocks across the globe (.MIWD00000PUS) gained 0.75%. Expectations the Fed may be nearing the end of its rate hiking cycle have helped send U.S. Treasury yields lowerrecently. The dollar pared some gains against the euro in the wake of the U.S inflation data, as investors see the Fed pausing its rate hiking cycle before the European Central Bank. The dollar index rose 0.117%, with the euro down 0.25% to $1.0874.

☆ Shares and bonds ride high after soothing euro zone data
▼ + stars: | 2023-03-31 | by ( Marc Jones | ) www.reuters.com time to read: +6 min

Government bonds have gained as much as 5%, gold is 8% higher, while oil is down and the dollar has barely budged. The euro zone inflation numbers showed consumer prices rising 6.9% in March after an 8.5% increase in February, representing the sharpest deceleration since Eurostat started collecting data in 1991. Japan's Nikkei (.N225) also jumped 1% on Friday，as inflation data for the capital Tokyo highlighted broadening price pressures. The euro , which hit a one-week high against the dollar overnight on sticky German inflation data, dipped back under $1.09 again after the euro zone data but was still set for a 3% monthly rise. U.S. crude futures were flat at $74.40 per barrel, while Brent crude futures slipped 0.1% to $78.52 per barrel.

☆ Bonds are back this year after one of their worst stretches ever
▼ + stars: | 2023-03-27 | by ( Alex Harring | ) www.cnbc.com time to read: +6 min

Bonds are rebounding in 2023 following one of their worst years ever as the asset class reclaims its function as an effective hedge for stocks. "Bonds are acting like bonds again," said Gina Bolvin, president of Bolvin Wealth Management Group. What's more, because bonds tend to rally during a recession as benchmark rates decline, Devereux said she recommends focusing on high-quality fixed income including U.S. Treasurys, agency mortgage-backed securities and municipal bonds. Within fixed income, she also recommended investors stick to bonds with AAA or AA ratings, saying investors should look for risk in equities rather than lower-rated bonds. "While returns for stocks and bonds have been positive so far this year, that stocks and bonds are largely performing well at different times has made the ride smoother for investors," Bolvin said.

Courts blocked a prior bid by the Trump administration to ban the app in part on the grounds that such a move violated free speech protections. Courts struck down former President Donald Trump's bid to block TikTok in 2020 with an executive order that granted the Commerce Department similar authorities as the RESTRICT act. But the bill will likely provide no immediate solutions for those calling for a ban on the app. Some experts said using the new legal tools to ban TikTok could still invite First Amendment challenges. "And there will most likely be a legal challenge if its used to ban TikTok."

☆ U.S. Supreme Court backs deaf student who sued Michigan school district
▼ + stars: | 2023-03-21 | by ( Andrew Chung | ) www.reuters.com time to read: +2 min

WASHINGTON, March 21 (Reuters) - The U.S. Supreme Court on Tuesday allowed a deaf student in Michigan to sue his public school district for allegedly failing to provide him adequate classroom instruction, a ruling that bolsters the ability of students with disabilities to remedy shortcomings in their education. The 9-0 ruling authored by conservative Justice Neil Gorsuch revived student Miguel Luna Perez's lawsuit seeking monetary damages from the school system in Sturgis, Michigan, as the justices overturned a lower court's decision to dismiss the case. Perez has said the school district assigned him an unqualified classroom aide who did not know sign language, and then misled his parents as to how much progress he was making. After settling an administrative complaint under IDEA with the district promising additional schooling at the Michigan School for the Deaf, Perez filed his lawsuit in federal court under the ADA, seeking compensatory damages. Circuit Court of Appeals in 2021 dismissed the case, agreeing with the school district that Perez could not bring his lawsuit before first exhausting the administrative procedures under IDEA.

Data showed that U.S. Consumer Price Index (CPI) rose 0.4% in February versus 0.5% a month ago. Traders held on to bets of a 25-basis-point rate hike at the Fed's next meeting in March, with odds of a pause in hikes slipping a bit to 17%. The S&P 500 banking index (.SPXBK) rose 3.9% after recording its biggest one-day percentage drop since June 2020 in the previous session. Advancing issues outnumbered decliners by a 7.92-to-1 ratio on the NYSE and by a 4.87-to-1 ratio on the Nasdaq. The S&P index recorded no new 52-week highs and no new lows, while the Nasdaq recorded 9 new highs and 36 new lows.

☆ The Pfizer-Seagen deal has a hidden $1 billion warning for workers
▼ + stars: | 2023-03-13 | by ( Yeji Jesse Lee | ) www.businessinsider.com time to read: +2 min

While the deal bolsters Pfizer's cancer portfolio, it also mean cuts focused on "eliminating duplication"Pfizer said it is aiming for $1 billion in "cost efficiencies" within 3 years of the deal. Pharmaceutical giant Pfizer said on Monday that it would acquire drug developer Seagen in a massive $43 billion deal that would bolster its oncology portfolio. The acquisition is the largest biopharma deal since 2019 when AbbVie acquired Allergan for $63 billion, according to Stat News. Namely, Pfizer is aiming for $1 billion in "cost efficiencies" within three years of the deal closing, which could mean job cuts. Pfizer's deal for Seagen is expected to close in late 2023 or early 2024.

☆ First Republic bolsters liquidity after wild weekend of bank failures
▼ + stars: | 2023-03-13 | by ( Huileng Tan | ) www.businessinsider.com time to read: +2 min

First Republic Bank said it's getting additional funding from the Federal Reserve and JPMorgan Chase. It's been a wild weekend for banks after SVB was shut down by regulators following a bank run. There are fears of contagion at regional banks such as First Republic. This funding injects $70 billion of unused liquidity into San Francisco-based First Republic, the bank said in a Sunday filing. First Republic Bank's shares fell 15% on Friday to $81.76 apiece.

☆ What bear market? These stocks are trading at all-time highs
▼ + stars: | 2023-03-09 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

As the market struggles to break out of its bear market, there are several stocks that have already soared to all-time highs this year. Here are the S & P 500 stocks that have broken out to all-time highs this year as the rest of the market stagnates. On Monday, Progressive traded at all-time highs dating back to its initial public offering in 1971. Meanwhile, on Monday, W.W. Grainger traded at all-time high levels back to when it began trading in 1967. Also on Monday, power management company Eaton hit all-time highs dating back to its July 1923initial public offering.

☆ South Korea's slowest inflation in 10 months bolsters views for no more hikes
▼ + stars: | 2023-03-07 | by ( ) www.cnbc.com time to read: +1 min

South Korea's consumer inflation for February hit its slowest pace in 10 months, bolstering views that the central bank is done with its current policy tightening cycle after it held rates steady last month. The consumer price index rose 4.8% in February from a year before, Statistics Korea data showed on Monday, easing from January's 5.2%. It was below the 5.1% tipped in a Reuters poll, and was also the lowest rate since April 2022. "It was encouraging that the rising pace of private service prices slowed, lowering the possibility of additional rate hikes by the central bank, at least on the domestic side," said Ahn Jae-kyun, a fixed-income analyst at Shinhan Securities. Annual core inflation, which excludes volatile food and energy prices, inched down to 4.0%, from 4.1% a month before, and hit the lowest since August, suggesting easing underlying price pressure.

☆ JetBlue combining with Spirit would make airfare more expensive, US says in lawsuit filed to block a merger
▼ + stars: | 2023-03-07 | by ( Taylor Rains | Dennis Green | ) www.businessinsider.com time to read: +4 min

The Department of Justice filed an antitrust lawsuit against JetBlue Airways on Tuesday. The lawsuit seeks to block JetBlue's acquisition of Spirit Airlines. "JetBlue has recognized that its own fares and revenues on a route drop significantly when Spirit enters," the DOJ says. "The Big Four airlines have a lock on about 80% of the market," JetBlue says. The Tuesday lawsuit said that the agreement with American constitutes a "de facto merger" with the world's largest airline, citing language used by Spirit before the merger.

☆ S.Korea inflation slowest in 10 months, bolsters views for no more hikes
▼ + stars: | 2023-03-06 | by ( Jihoon Lee | ) www.reuters.com time to read: +2 min

The consumer price index rose 4.8% in February from a year before, Statistics Korea data showed on Monday, easing from January's 5.2%. By product category, prices of livestock products fell 3.2% from the previous month and petroleum products slid 1.3%, dragging the inflation rate lower. The inflation index rose 0.3% on a monthly basis, compared with 0.8% in the previous month and 0.5% expected by economists. The BOK held interest rates steady last month, after a year of uninterrupted hikes, and said the monetary tightening campaign would not resume if inflation followed an expected path towards moderation. Finance Minister Choo Kyung-ho separately said that the inflation slowdown would become clearer going forward, unless there were an external shock.

☆ The chief investment strategist at a $540 billion firm explains why the stock market may have already bottomed for the year — and why he sees opportunity in the market's most beaten-down names
▼ + stars: | 2023-03-01 | by ( Lisa Kailai Han | ) www.businessinsider.com time to read: +6 min

Wes Crill believes the stock market may have already bottomed, according to historical precedence. In the long term, he's bullish on value stocks once again taking the reigns as market leaders. "In fact, the average return for value stocks was a little bit higher in periods where the overall stock market was positive." Across Wall Street, Crill's not the only one with a longer-term overweight towards value stocks. Instead, he says investors should stick to what history dictates works best: value stocks over a long time horizon.

☆ Why the dollar keeps winning in the global economy
▼ + stars: | 2023-02-28 | by ( Francesco Guerrera | ) www.reuters.com time to read: +7 min

The outsized role played by the United States in capital markets, trade and debt reinforces the status quo. Unless the global economy undergoes a complete overhaul, the dollar will remain on top. America may have never “run on Dunkin’”, as the donut-maker’s slogan claimed, but the global economy runs on the dollar. The United States has spurred the search for alternatives by wielding its currency as a weapon against its adversaries. The greenback’s function as the lubricant of global economic activity has another important effect: a stronger dollar curbs global trade.

☆ Mexico Congress approves law giving armed forces airspace monitoring duties
▼ + stars: | 2023-02-23 | by ( ) www.reuters.com time to read: +1 min

MEXICO CITY, Feb 22 (Reuters) - Mexico's Congress on Wednesday approved a law giving the nation's armed forces a dominant role in airspace surveillance and defense, a measure proponents say is vital to national sovereignty and security. The reform was sent to Mexico President Andres Manuel Lopez Obrador to be signed into law after being approved by the Senate, which is dominated by the ruling Morena party. Mexico's defense ministry will now have under its command a new National Center for Surveillance and Protection of Airspace to monitor airspace and "inhibit and counteract" air operations that threaten national security, according to the document approved by legislators. Opposition senators condemned the law and argued it weakens the civil authority in charge of airspace navigation and bolsters a military that has grown stronger under Lopez Obrador. "Today the Armed Forces co-governs with Lopez Obrador," opposition Senator Emilio Alvarez said during debate on the matter.

☆ Jim Cramer's Investing Club meeting Wednesday: Retail sales, Devon, Bausch Health
▼ + stars: | 2023-02-15 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. Watch Bausch A welcome leadership change at eye-care firm Bausch + Lomb (BLCO) is causing shares of Club holding Bausch Health (BHC) to surge 13% Wednesday, to roughly $8.52 apiece. Bausch Health owns nearly 89% of Bausch + Lomb, so what's good news at BLCO is good news for BHC, too. Saunders is a solid pick to lead Bausch + Lomb, which had been a division of Bausch Health up until May 2022. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER .

☆ Walmart is cracking down on its remote tech work, closing 3 offices, and forcing hundreds to choose whether to relocate or leave
▼ + stars: | 2023-02-14 | by ( Ben Tobin | ) www.businessinsider.com time to read: +3 min

Walmart is closing three tech hubs in the US, a company spokesman confirmed to Insider. The tech hubs are located in Carlsbad, California; Portland, Oregon; and Austin, Texas. Workers at those hubs will either have to relocate to a different hub or leave the company entirely. Walmart currently has 16 tech hubs that span across the globe, according to the company's website. Are you a Walmart employee who works in one of the three tech hubs that are set to close?

☆ U.S. companies face more pain as expected ‘earnings recession’ looms
▼ + stars: | 2023-02-13 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

Expectations for U.S. earnings to decline in the first and second quarter come amid weaker-than-expected fourth-quarter results for 2022, which Credit Suisse estimates will be the worst earnings season outside of a recession in 24 years. With fourth-quarter 2022 earnings estimated to have fallen from a year ago, a subsequent decline in the first quarter of 2023 would put the S&P 500 into a so-called earnings recession, a back-to-back decline in earnings that hasn't occurred since COVID-19 blasted corporate results in 2020. Fourth-quarter results are in already from 344 of the S&P 500 companies, and the quarter's earnings are estimated at this point to have fallen 2.8% from the year-ago period, according to IBES data from Refinitiv. Most strategists expect little improvement for the season, and analysts now forecast S&P 500 earnings falling 3.7% year-over-year in the first quarter of 2023 and 3.1% for the second quarter. The S&P 500 notched its biggest percentage weekly decline since mid-December last week, though the index is up about 7% for the year to date.

☆ Nissan's Q3 operating profit more than doubles, outstrips expectations
▼ + stars: | 2023-02-09 | by ( ) www.reuters.com time to read: +1 min

TOKYO, Feb 9 (Reuters) - Japan's Nissan Motor Co (7201.T) on Thursday posted a better-than-expected 155% jump in third-quarter operating profit, boosted by a weaker yen and cost management. Operating profit for the three months ended Dec. 31 came to 133.1 billion yen ($1.01 billion), beating the average 104.79 billion yen profit estimated by nine analysts, according to Refinitiv data. That compared to a 52.2 billion yen profit in the same period a year earlier. The Yokohama-based automaker maintained its forecast for an operating profit of 360 billion yen for the year to March 31, helped by a weaker yen that bolsters the value of overseas sales. ($1 = 131.2600 yen)Reporting by Daniel Leussink; Editing by David DolanOur Standards: The Thomson Reuters Trust Principles.

☆ Southwest just announced 5 new and 24 returning routes this year as it bolsters its network— see the full list
▼ + stars: | 2023-02-09 | by ( Taylor Rains | ) www.businessinsider.com time to read: +5 min

Southwest Airlines announced five new and 24 returning routes in its latest network expansion. These are in addition to the previously announced new nonstops to Kansas City and Orlando from Long Beach, starting in March and July, respectively. Charlotte to Houston Hobby: Sundays starting on September 10Dallas Love Field to Philadelphia: Saturdays and Sundays starting on September 9. Between Long Beach and El PasoEl Paso, Texas Denis Tangney Jr./Getty ImagesSouthwest will launch daily flights between Long Beach and El Paso on July 11. Between Long Beach and AlbuquerqueAlbuquerque, New Mexico Davel5957/Getty ImagesSouthwest will launch daily flights between Long Beach and Albuquerque on September 5.

James needs 36 points to eclipse Lakers great Kareem Abdul-Jabbar's record of 38,387 points and will get his first chance to do so at home on Tuesday against the Oklahoma City Thunder. Tickets for that game start at $284, 50% higher than the team's season average, according to ticket retailer StubHub. "This might be one of those things that helps endear him to L.A.," said longtime Lakers fan Mike DeMars. "For me it's hard to compare different eras because the game was different back in the 80s and 90s," said Ellis. Reporting by Rory Carroll in Los Angeles Editing by Toby DavisOur Standards: The Thomson Reuters Trust Principles.

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