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☆ BlackRock downgrades Japan stocks on possible monetary policy shift
▼ + stars: | 2023-02-15 | by ( Jihye Lee | ) www.cnbc.com time to read: +3 min

Kazuhiro Nogi | Afp | Getty ImagesBlackRock, the world's largest asset manager, cut Japanese stocks to "underweight" – as Japan is set to appoint a new governor to lead its central bank. "We downgrade Japanese stocks on policy uncertainty and a worsening economic environment," BlackRock's research arm said Monday, before the government submitted its central bank picks to parliament. U.S. Treasury yields spiked, with the 10-year note and the 30-year note jumping 7 and 8 basis points respectively. One possibility is the Bank of Japan further widening its tolerance range beyond 50 basis points. Nikkei separately reported earlier this month that the central bank purchased 23.7 trillion yen ($182 billion) of JGBs in January, a new record high.

☆ Devon Energy shares drop 12% on disappointing earnings
▼ + stars: | 2023-02-15 | by ( Liz Hampton | ) www.reuters.com time to read: +1 min

Companies Devon Energy Corp FollowDENVER, Feb 15 (Reuters) - Shares of U.S. shale oil producer Devon Energy (DVN.N) fell more than 12% at midday Wednesday after the company reported fourth quarter earnings that missed analysts' forecast on higher-than-expected expenses and lower production. The fire-hit gas compression facility will resume operations at the end of the first quarter, executives said during an earnings call on Wednesday. Wall Street analysts had a negative view of the results, pointing to higher capital spending, lower production and a profit miss. "Disappointing print on Q4," wrote analysts for Tudor, Pickering, Holt & Co, pointing to capital expenditures, which at $3.7 billion is 5% above expectations, as well as lower earnings and free cash flow. The company posted adjusted earnings of $1.66 per share for the fourth-quarter versus analysts' expectations of $1.75 a share, according to Refinitiv data.

☆ Russia's budget deficit has surged. But economists say Moscow won't drain its war chest any time soon
▼ + stars: | 2023-02-15 | by ( Elliot Smith | ) www.cnbc.com time to read: +8 min

However, both the Russian finance ministry and the central bank maintain that all of this is within their models. Christopher Granville, managing director of global political research at TS Lombard, noted two further factors distorting the most recent deficit figures. watch nowThe actual Urals price dived as a result, averaging just $46.8 per barrel during the period from mid-December to mid-January, according to the Russian finance ministry. The finance ministry also flagged massive advance payments for state procurement in January, which totaled five times those of January 2022. "Also, it has plans to issue debt, but this can only be done domestically so it's like a closed circuit — Russian banks buying debt from the Russian state, etcetera etcetera.

☆ Tesla workers reportedly say the company tracks their keystrokes to make sure they're actively working, the latest complaint of workplace monitoring
▼ + stars: | 2023-02-15 | by ( Grace Kay | Sawdah Bhaimiya | ) www.businessinsider.com time to read: +4 min

Tesla workers in New York say their keystrokes are monitored to ensure they're actively working, Bloomberg reported. The workers emailed Elon Musk to inform him they were campaigning for a union, the publication said. Insider reported last year that Tesla began tracking workers' office attendance using an automated system to track when staff badged in or out of its offices. Last year, The New York Times reported that about eight out of the ten largest private US employers track staff productivity. Do you work for Tesla or have some insight to share?

☆ The behind-the-scenes role that's minting future stars at BlackRock
▼ + stars: | 2023-02-15 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

Some of the most powerful people on Wall Street are men and women you've never heard of. Click here to learn more about BlackRock's new chief of staff and why the role is rising in importance across Wall Street. Everybody wants macro traders. A fintech helping companies engage with their retail investors got backing from Alexis Ohanian's Seven Seven Six. These are the top 10 holdings in the church's investment portfolio, including one Wall Street titan.

More than 105,000 people were injured in the quake, he said, with more than 13,000 still being treated in hospital. Afterwards, Gungor's relatives hugged the rescue team, made up of military personnel and members of the disaster management authority AFAD. Families in both Turkey and Syria said they and their children were dealing with the psychological aftermath of the quake. A first convoy of U.N. aid entered rebel-held northwest Syria from Turkey via the newly-opened Bab al-Salam crossing. Russia also said it was wrapping up its search and rescue work in Turkey and Syria and preparing to withdraw.

Two-year Treasury yields hit their highest in three months at 4.65%, now on par with the current Fed policy rate. Morgan Stanley's Matthew Hornbach described the payrolls as a "mood changing" print that's seen markets chase rates higher as if gripped by a sort of reverse FOMO - fear of missing out. Reports circulated last week of swaps and options market activity on the Chicago Mercantile Exchange that bet on market rates touching 6%, or at least hedging against that possibility. If that's true, the battle over the terminal rate may now be overtaken by how long the Fed can keep rates higher to achieve its goals. BofA chart on peak rates from fund manager surveyInflationThe opinions expressed here are those of the author, a columnist for Reuters.

☆ US stocks end volatile session mixed after inflation cools by less than expected
▼ + stars: | 2023-02-14 | by ( Carla Mozée | ) www.businessinsider.com time to read: +2 min

US stocks finish Tuesday's choppy session on a mixed note. January headline inflation cooled to 6.2% but the rate was higher than anticipated. Core CPI, which strips out energy and food prices, rose 0.4% for the month. "The journey to get to normal inflation rates will be a bumpy ride as energy and commodity prices should rebound with China dropping its zero COVID policies." A ninth straight rate hike is likely to arrive in March.

☆ Markets are kicking off a make-or-break stretch with inflation, jobs, and more Fed policy looming
▼ + stars: | 2023-02-14 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

Fed Chairman Jerome Powell warned — once again — last week that rates may eventually end up higher than markets anticipate as the fight against inflation remains far from over. Now, ahead of the CPI report, let's check in with the outlook for stocks. To Bernstein strategist Matthew Palazzolo, today's inflation reading will kick off a momentous five-week stretch for equities. The jobs report on March 3, the next inflation report on March 14, and the Fed meeting on March 22 will shape the rest of the year for stocks, he explained to my colleague George Glover. Your best bet for where the stock market's going this year can be found in the two-year Treasury yield, according to Mohamed El-Erian.

Travel insurance weekly rates at a glance:Average premium: $333.10Average trip cost: $6,608.57Average trip length: 15 daysWhat is travel insurance? See Insider's picks for the best travel insurance »Some credit cards offer a limited amount of travel insurance annually. Insider's Featured Travel Insurance Companies World Nomads Travel InsuranceAllianz Travel InsuranceTravelex travel insurance Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. When calculating your travel insurance premium, travel insurance providers consider the likelihood of a medical emergency. Travel Insurance Rates FAQsHow much does travel insurance cost?

☆ You have to remember the Fed's policy acts with a lag, says fmr. Fed official Randal Quarles
▼ + stars: | 2023-02-14 | 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 EmailYou have to remember the Fed's policy acts with a lag, says fmr. Fed official Randal QuarlesFmr. Fed Vice Chair for Supervision Randal Quarles joins 'Closing Bell' to discuss today's inflation print and what he believes it means for future rate increases.

☆ 4 tips to save money with brands like Nike and Starbucks from a TikToker who paid off $200,000 in student debt in 2 years
▼ + stars: | 2023-02-14 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +5 min

She said these tips could save people money on a laptop, coffee, deliveries, and medical bills. Her most popular content features her "reading the fine print" of companies' terms and conditions to help people save money. Insider compiled a list of four of Kullberg's other top tips for how "reading the fine print" can save you money. Here's how Starbucks officially puts it:"At participating stores, you can use your registered Starbucks Card or Starbucks app to purchase a beverage and then present that same Starbucks Card or Starbucks account in the app to get free refills." Last year, the Kaiser Family Foundation found that three million Americans owe over $10,000 in medical debt.

☆ There's a shelf-life for popular risk-free trades, says fmr. PIMCO Chief Economist Paul McCulley
▼ + stars: | 2023-02-14 | by ( Melissa Lee | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThere's a shelf-life for popular risk-free trades, says fmr. PIMCO Chief Economist Paul McCulleyPaul McCulley, fmr. PIMCO chief economist, on what today's CPI print means for markets. With CNBC's Melissa Lee and the Fast Money traders, Dan Nathan, Karen Finerman, Tim Seymour and Julie Biel.

☆ JPMorgan's trading desk says the S&P 500 could be in for a wild ride after Tuesday's consumer price index report
▼ + stars: | 2023-02-13 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

ET, the consumer price index gauges inflation by tracking price changes within a broad basket of items. If that consensus estimate is correct, JPMorgan's sales and trading desk expects the S & P 500 to add between 1.5% and 2% in Tuesday's session before seeing the rally fade. (The JPMorgan sales and trading desk is a different entity than its research team.) The JPMorgan trading desk has made bold predictions in the past and at one point last year word of their expectations spread on Wall Street and moved the market. The S & P 500 and Nasdaq Composite each gained more than 1%.

☆ Morgan Stanley downgrades XPO, says logistics company is a 'show me story' after latest quarter
▼ + stars: | 2023-02-13 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

It's time for investors to move to the sidelines on XPO , according to Morgan Stanley. Analyst Ravi Shanker downgraded shares to equal weight from overweight following what he considered a lackluster quarter for the less-than-truckload (LTL) shipping company. While Shanker thinks XPO's valuation is still attractive against its peers, he cut his price target to $43 from $55. The new price target still implies shares can advance another 22% from Friday's closing price of $35.22. XPO shares rose more than 5% this year, after falling 27.6% in 2022.

☆ Here are Monday's biggest analyst calls: Apple, Roblox, Disney, Meta, Zillow, Ralph Lauren & more
▼ + stars: | 2023-02-13 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

Here are Monday's biggest calls on Wall Street: Bank of America reiterates Meta as buy Bank of America said the "year of efficiency" for Meta is just starting. Bank of America upgrades Ralph Lauren to buy from neutral Bank of America said shares of Ralph Lauren should outperform in this environment. Bank of America upgrades Fastly to buy from underperform Bank of America said the cloud computing company is on the "road to recovery." Bank of America reiterates Roblox as buy Bank of America said it's bullish heading into Roblox earnings on Wednesday. Bank of America reiterates Starbucks as buy Bank of America said it sees a margin recovery for Starbucks shares.

MUMBAI, Feb 13 (Reuters) - Indian government bond yields are expected to trend higher this week, as sentiment stays bearish, but debt as well as the local currency will track U.S. and India inflation data. India's headline retail inflation print is due on Monday, followed by U.S. retail inflation on Tuesday. Bond yields jumped after the RBI highlighted core inflation concerns, keeping the door open for another hike. The rupee will take its cues from the U.S. inflation print and its impact on the dollar index, a trader with a private bank said. For the week, the currency could move between 82.10 and 82.80 unless the U.S. inflation data is a big surprise, dealers said.

☆ M&Ms Super Bowl commercial: How ads have become weeks-long campaigns
▼ + stars: | 2023-02-12 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +7 min

The Super Bowl commercial, billed as the conclusion to weeks-long drama surrounding the status of the “spokescandies,” left some viewers scratching their heads. But if you weren’t paying attention, the final commercial might be a head scratcher -— one risk a brand takes when it uses a weeks-long campaign ahead of its Super Bowl commercial. In a change for the decades-old Super Bowl ad wars, it’s actually become a commonplace strategy to use social media to tease, preview and create buzz ahead of their Super Bowl commercials. Companies spend millions just for a Super Bowl ad slot — reportedly over $7 million for some 30-second spots — before investing into the commercials themselves. Dance contests and bettingDespite the high cost of a Super Bowl commercial, companies are eager to nab a spot.

The jobless rate held steady at 5%, which is just a decimal point higher than the record low, Statistics Canada (Statscan) said. Analysts surveyed by Reuters had forecast a net gain of 15,000 jobs and for the unemployment rate to edge up to 5.1% in January. "However, that won't stop markets reacting to today's strong data by pricing in a greater probability of further hikes, and pricing out rate cuts," he said. Before the jobs numbers, markets had been betting that the Bank of Canada's next move would be to cut rates. When he announced a pause on rates, Governor Tiff Macklem said it was "conditional" and did not rule out further increases.

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☆ Take Five: The truth about inflation
▼ + stars: | 2023-02-10 | by ( ) www.reuters.com time to read: +5 min

That puts Tuesday's U.S. inflation data on the must-watch list. 1/ INFLATION BETSurprisingly strong January U.S. jobs data forced markets to rethink the view that interest rates will peak soon. Now, Tuesday's latest inflation figure is the next big test for where the Federal Reserve takes rates in coming months. Stock markets are confident that the Fed can bring down inflation without triggering a sharp growth slowdown. January's inflation report on Wednesday could show double-digit price rises, meaning no respite yet on the interest-rate front.

☆ Morgan Stanley analyst Jonas says investors may have missed their window to buy Tesla shares
▼ + stars: | 2023-02-10 | by ( John Melloy | ) www.cnbc.com time to read: +2 min

Notable electric vehicle analyst Adam Jonas believes investors may have missed their chance to buy Tesla on the cheap after the stock doubled off its 52-week low, with most of the comeback coming this year. "While we reiterate the overweight rating on Tesla shares, we believe the window of opportunity on 'valuation' has closed," the Morgan Stanley analyst wrote in a note Thursday. TSLA YTD mountain Tesla so far in 2023 Jonas noted that the shares now trade for 38 times enterprise value/EBITDA. "Adding over $350bn of market cap this year closed the 'valuation case' window on Tesla even faster than it opened," Jonas wrote. Jonas is not alone on Wall Street in being cautious on Tesla after the big runup in the stock.

☆ Thomson Reuters reports higher fourth-quarter sales, profit
▼ + stars: | 2023-02-09 | by ( ) www.reuters.com time to read: +2 min

The news and information company reported adjusted earnings of 73 cents per share. A strong dollar took 2 percentage points off the sales growth. Divestitures reduced sales growth by another 1 point. It expects first-quarter organic sales growth at the lower end of its full-year target of 5.5-6.0%. During the fourth quarter, Thomson Reuters said it would buy SurePrep LLC, a U.S.-based provider of tax automation software and services, for $500 million in cash.

☆ Iger's on track to bring back the magic at Disney — allowing the stock to soar
▼ + stars: | 2023-02-09 | by ( Paulina Likos | ) www.cnbc.com time to read: +4 min

But now comes the hard part: Executing on ambitious cost cuts and generating long-sought profits at Disney's beleaguered streaming unit. Disney stock, which is up more than 26% year-to-date, soared more than 5% on the news before giving up those gains Thursday afternoon amid a broader retreat in equities markets. But while Disney shares have made a strong comeback since Iger returned as CEO, the company must now deliver on its plan. Ultimately, we think Iger will bring back the magic at Disney — and we reiterate our 1 rating on the stock, meaning we would buy shares of Disney here. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ Rupee eyes RBI policy decision, weighs Powell's comments
▼ + stars: | 2023-02-08 | by ( Nimesh Vora | ) www.reuters.com time to read: +2 min

MUMBAI, Feb 8 (Reuters) - The Indian rupee is likely to open little changed to the U.S. dollar on Wednesday, with traders weighing comments from Federal Reserve Chair Jerome Powell and awaiting the Reserve Bank of India's policy decision. The non-deliverable forwards indicate an opening of 82.68-82.74 for the rupee , compared with 82.70 in the previous session. We doubt RBI will have a major impact on the rupee, a trader at a Mumbai based bank said. Some market participants had expected Powell to adopt a more hawkish stance after the jobs report blew past expectations. Powell was "not materially more hawkish" than he was after the recent Fed decision, ING Bank said in a note.

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