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☆ War in Ukraine Loosens Russia’s Grip on Its Own Backyard
▼ + stars: | 2023-11-03 | by ( Yaroslav Trofimov | ) www.wsj.com time to read: 1 min

French President Emmanuel Macron, right, visiting Astana, Kazakhstan, on Wednesday for talks with President Kassym-Jomart Tokayev. Photo: Press Service of the President of Kazakhstan/ReutersWhen domestic turmoil engulfed Kazakhstan in January last year, Russian airborne troops quickly swooped in to help restore order. Moscow’s sway in much of the former Soviet Union—areas that Russians refer to as “near-abroad”—seemed to be at its peak. The invasion of Ukraine, launched the following month, bared the stark limits of Russian power in what Moscow considered its own backyard. Spooked by the bloodshed in Ukraine and by the international sanctions imposed on Russia, its neighbors and allies now are busy diversifying their relationships, hedging against Moscow by deepening ties with China and the West.

Persons: Emmanuel Macron, Kassym, Tokayev, ” — Organizations: Press Service, Reuters, Soviet Locations: Astana, Kazakhstan, Russian, Soviet Union, Ukraine, Moscow, Russia, China

☆ CNBC Daily Open: A perfect day for markets and a falling Apple
▼ + stars: | 2023-11-03 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +3 min

In this article AAPL Follow your favorite stocks CREATE FREE ACCOUNTTim Cook, chief executive officer of Apple Inc., holds an iPhone 15 Pro Max during an event at Apple Park campus in Cupertino, California, US, on Tuesday, Sept. 12, 2023. David Paul Morris | Bloomberg | Getty ImagesThis report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. What you need to know todayThe bottom lineIt was an astounding day for markets, with everything falling into place as perfectly as investors could have hoped for. Labor costs actually fell for a three-month period ending September — compared with an expected increase — while unemployment claims ticked up.

Persons: Tim Cook, Max, David Paul Morris, Stocks, there's, it's Organizations: Apple Inc, Apple, Bloomberg, Getty, CNBC, Treasury, U.S, Labor, Dow Jones, Nasdaq Locations: Cupertino , California, U.S

☆ Orsted’s losing US bets need rethink of UK plans
▼ + stars: | 2023-11-01 | by ( Yawen Chen | ) www.reuters.com time to read: +4 min

Turbulent news has buffeted the wind sector of late, from faulty turbines at Siemens Energy (ENR1n.DE) to Orsted’s own surprise impairments in August. After that surprise – largely caused by suppliers’ issues – Orsted’s stock price is just a fifth of its 2021 peak of 1,350 Danish crowns. That suggests investors are neither counting on future growth from its U.S. portfolio nor sufficiently factoring in Orsted’s earnings from operating projects. That’s a far cry from the annual average increase of 14% from 2023 onwards implied by Orsted’s EBITDA target of up to 55 billion Danish crowns in 2030. Hornsea Three would require capital investments of 48.5 billion Danish crowns, according to Bernstein.

Persons: Mads Nipper, Nipper, Orsted, Bernstein, Orsted’s, Francesco Guerrera, Oliver Taslic Organizations: Reuters, Siemens Energy, Reuters Graphics Reuters, U.S ., Thomson Locations: SINGAPORE, United States, New Jersey, Danish, U.S . East Coast

☆ Treasury details plans to step up size of bond sales to manage growing debt load and higher rates
▼ + stars: | 2023-11-01 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

The Treasury Department announced plans Wednesday to accelerate the size of its auctions as it looks to handle its heavy debt load and with financing costs rising. The announcement comes with Treasury yields around their highest levels since 2007, a reflection of financial markets spooked over how much damage higher borrowing costs could exact. From there, the department said it will increase the auction size of various maturities, focusing more on coupon-bearing notes and bonds. By the end of January, the auction sizes will show respective increases of $9 billion, $6 billion, $9 billion and $3 billion. Stock market futures came off their lows of the morning following the announcement, while Treasury yields were lower.

Persons: Deirdre K, Dunn, Colin Teichholtz Organizations: Treasury Department, Treasury, Stock, Federal Reserve Locations: Wall

☆ Premarket stocks: It’s a spooky Halloween for markets. Here’s why
▼ + stars: | 2023-10-31 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +10 min

Here’s what’s causing the market fears:High bond yieldsSurging yields have contributed to one of the worst periods for bond market performance in history and pressured equity markets. The company reported quarterly profits of $9.9 billion, also beating estimates. Shares of Meta slid last week after the Facebook parent company reported that advertising revenue had been soft this quarter. Jerominski told CNN that there have been at least 25 store closures. Fraser Engerman, a Walgreens spokesperson, told CNN that just two stores closed on Monday and no more than 12 pharmacists walked out across the entire country.

Persons: Dow, Rob Almeida, ”, Jason Pride, “, don’t, Erik Weisman, Seema Shah, JPMorgan Chase, Jamie Dimon, Wall, Shane Jerominski, Jerominski, Fraser Engerman, Max —, Tim Cook, Apple Organizations: CNN Business, Bell, New York CNN —, Traders, Nasdaq, MFS Investment Management, Federal Reserve, Asset Management, LPL Research, JPMorgan, Big Tech, Meta, Facebook, Reality Labs, Google, CVS, Walgreens, Staff, CNN, Workers, Apple Locations: New York, United States, Israel, Russia, Ukraine, China, Arizona , Washington , Massachusetts, Oregon, Southern California, Chicago, Deerfield, Apple’s Cupertino , California

An office of TikTok, whose move could double or triple the number of subpar grades given this year, some managers say. Photo: how hwee young/ShutterstockSINGAPORE—TikTok is asking managers across the world to give more employees lower ratings in performance reviews, a move that staff fear could reduce bonuses and lead to layoffs, people familiar with the matter said. In mid-October, managers were told by senior management and staff in human resources that they needed to assign more performance reviews at the lower end of the company’s bell-curve rating system, employees managing teams in the U.S., Singapore and China told The Wall Street Journal. This could double or triple the number of subpar grades given on some teams this year, the people said.

Organizations: SINGAPORE, Wall Street Locations: U.S, Singapore, China

☆ Louis Oliver Gropp Dies at 88; Led Shelter Magazines Through Turmoil
▼ + stars: | 2023-10-30 | by ( Penelope Green | More About Penelope Green | ) www.nytimes.com time to read: +1 min

Stephen Drucker, the veteran shelter magazine editor who worked for Mr. Gropp in the 1970s, said by phone: “Lou saw himself as a business head. It was the only magazine in its category — magazines with circulations between 400,000 and 1 million — to do so. By 1987, however, Mr. Liberman and S.I. They gave her House & Garden instead. Mr. Gropp was typically sanguine.

Persons: Stephen Drucker, Gropp, Lou, ”, Liberman, Newhouse, Condé, Anna Wintour, —, William Shawn, Grace Mirabella, Kazanjian, Calvin Tomkins, “ Alex, Alexander Liberman ”, Elle Décor Organizations: Mr, & Garden, S.I, Vogue, The Locations: British, Newport Beach, Calif, Yorker

☆ Morning Bid: Markets hold their nerve amid Mid East trouble
▼ + stars: | 2023-10-30 | by ( Wayne Cole | ) www.reuters.com time to read: +3 min

Oct 30 (Reuters) - A look at the day ahead in European and global markets from Wayne Cole. Most talk is it will stay on hold this time, but will discuss laying the groundwork for an eventual shift. Any tweak would see Japanese yields rise and add to the pain being felt in the Treasury market, where 10-year yields nudged up to 4.87% on Monday with scant sign of any safe haven bid. Analysts at NatWest Markets expect $885 billion of marketable borrowing in Q4 and $700 billion in Q1. It is also notable that the borrowing kept climbing even though the economy surprised everyone with its strength.

Persons: Wayne Cole, It's, Eli Lilly, Luis de Guindos, Erik Thedéen, Muralikumar Organizations: Nikkei, Bank of Japan, Ichi, Insurance, Reuters, Treasury, NatWest Markets, Federal Reserve, Apple, Thomson Locations: Wayne, Gaza, China

But for companies like Soergel Orchards in western Pennsylvania, a slowdown is nowhere in sight. “People love to pick — people will pick anything.”Sales are up even though a string of rainy weekends have held back attendance at the farm’s annual fall festival. And the owners are bracing for a strong season in their store selling Christmas decorations. Consumer demand has unexpectedly boomed in 2023, defying widespread expectations for a slowdown and helping to fuel strong overall growth. The economy expanded at an eye-popping 4.9 percent annual rate in the third quarter, far faster than the roughly 2 percent pace officials at the Fed think of as its standard growth pace.

Persons: ”, Amy Soergel Organizations: Federal Reserve, Consumer Locations: Pennsylvania

☆ US Treasury seen boosting auction sizes as budget deficit worsens
▼ + stars: | 2023-10-29 | by ( Gertrude Chavez-Dreyfuss | ) www.reuters.com time to read: +4 min

A bronze seal for the Department of the Treasury is shown at the U.S. Treasury building in Washington, U.S., January 20, 2023. Investors are playing close attention to this week's quarterly refunding announcement as a sharp jump in long-term Treasury yields has been partly attributed to concerns about the U.S. fiscal deficit. So far this year, the Treasury has issued about $1.6 trillion of additional bills and roughly $1.04 trillion in longer-term debt. The Treasury is also likely to announce a buyback program for a possible launch in January, aimed at improving bond market liquidity, analysts said. The projected increase in longer-term deficits in the coming years, however, will keep Treasury raising auction sizes, analysts said.

Persons: Kevin Lamarque, Guneet Dhingra, Morgan Stanley, Morgan Stanley's Dhingra, Tom Simons, Zachary Griffiths, Gertrude Chavez, Dreyfuss, Megan Davies, Jamie Freed Organizations: Department of, U.S . Treasury, REUTERS, TD Securities, Treasury, Jefferies, Thomson Locations: Washington , U.S, New York, Charlotte , North Carolina

For the second year in a row, U.S. shoppers are seeing double-digit inflation in the candy aisle. That’s on top of a 14% increase in candy and gum prices in October 2022. “The price of candy has gotten to be outrageous,” said Jessica Weathers, a small business owner in Shiloh, Illinois. Meanwhile, global sugar prices are at 12-year highs, Goughary said. Buck said Hershey is trying to meet consumers’ needs with offerings in value stores and pack sizes at various price points.

Persons: ”, Jessica Weathers, ” Weathers, Dan Sadler, Kelly Goughary, Goughary, —, Michele Buck, Buck, Hershey Organizations: Gro Intelligence, Aldi, Mars Inc, Hershey Co Locations: Shiloh , Illinois, West Africa, El, Ivory, India, Brazil

☆ For the second Halloween in a row, U.S. candy inflation hits double digits
▼ + stars: | 2023-10-28 | by ( ) www.cnbc.com time to read: +3 min

For the second year in a row, U.S. shoppers are seeing double-digit inflation in the candy aisle. That's on top of a 14% increase in candy and gum prices in October 2022. "The price of candy has gotten to be outrageous," said Jessica Weathers, a small business owner in Shiloh, Illinois. Weathers said she usually buys plenty of candy for trick-or-treaters and events at school and church. Meanwhile, global sugar prices are at 12-year highs, Goughary said.

Persons: Jessica Weathers, Weathers, Dan Sadler, Kelly Goughary, Goughary, —, Michele Buck, Buck, Hershey Organizations: Gro Intelligence, Aldi, Hershey Locations: Shiloh , Illinois, West Africa, El, Ivory, India, Brazil

HONG KONG (AP) — Asian shares advanced Friday after the latest tumble on Wall Street, where the S&P 500 fell to its lowest level in five months. But investors are more concerned about what will happen rather than what has passed, and worry that a solid economy could continue to push prices higher. That could push the Fed to keep rates high for a long time to curb inflation. Higher interest rates could mean eventual weakness for the economy and corporate profits. And high bond yields make investors less willing to pay high prices for stocks and other investments.

Persons: Australia’s, Taiex, haven’t, Wall, Brent Organizations: Nikkei, Statistics, Big Tech, Nasdaq, Dow Jones, Facebook, Treasury, Federal Reserve, New York Mercantile Exchange Locations: HONG KONG, Gaza, Tokyo, Hong Kong, Shanghai, Seoul, Israel, U.S

☆ The shaky stock market is making Americans feel uneasy
▼ + stars: | 2023-10-27 | by ( Bryan Mena | ) edition.cnn.com time to read: +2 min

Washington, DC CNN —Americans’ moods soured this month, largely due to a wobbly stock market. The survey also showed that Americans became more pessimistic about the economy’s outlook for the year ahead. The tech-heavy Nasdaq tilted into correction territory Thursday as shares of some Big Tech companies slipped. Meanwhile, Americans’ inflation expectations for the year ahead worsened in October, jumping to 4.2% from 3.2% in September, the highest reading since May. The Federal Reserve pays close attention to inflation expectations, particularly longer-term expectations.

Persons: Joanne Hsu Organizations: DC CNN, University of Michigan’s, Consumers, Investors, Federal Reserve, Treasury, Meta, Microsoft, Google, Big Tech, Apple, Nvidia, Fed Locations: Washington

☆ Siemens Energy in Talks With German Government for Financial Help
▼ + stars: | 2023-10-26 | by ( Stanley Reed | More About Stanley Reed | ) www.nytimes.com time to read: 1 min

Siemens Energy, a major European manufacturer of wind farms, power grids and natural gas turbines, said Thursday that it was in talks with the German government about securing financial guarantees to help it continue to build future large projects. The statement said preliminary talks were underway with banks and the government. News that the Munich-based company was seeking help spooked investors, sending its stock price down 35 percent. Siemens Energy’s difficulties could be a warning that financial problems weighing on makers of renewable energy equipment could be growing more severe. These businesses are expected to be integral to helping economies shift to cleaner energy, but many are struggling to grow fast enough.

Organizations: Siemens Energy, Siemens Locations: Munich

☆ Hasbro, Mattel shares plunge as toymakers forecast a lackluster holiday season
▼ + stars: | 2023-10-26 | by ( Drew Richardson | ) www.cnbc.com time to read: +2 min

Shares of Hasbro and Mattel sank on Thursday, as both toymakers suggested sales will slow in the fourth quarter. The companies face challenges entering the critical fourth quarter, they said as they separately reported third-quarter earnings. Toys and games, products both Hasbro and Mattel are known for, could be on the chopping block this season as consumers watch their spending. Mattel's implied fourth quarter guidance on toy sales offered Wednesday also spooked Wall Street, despite its strong third-quarter results. Hasbro's revenue fell 10% for the quarter compared to the year-ago period, largely driven by decreases in its consumer and entertainment segments.

Persons: Chris Cocks, Mattel's Organizations: Hasbro, Mattel, Citi Research, LSEG, Lionsgate

☆ Alphabet's stock is having its worst day in a year after cloud revenue missed estimates
▼ + stars: | 2023-10-25 | by ( Jake Piazza | In | ) www.cnbc.com time to read: +2 min

Alphabet shares fell the most in a year on Wednesday after revenue in the company's Google Cloud unit trailed analyst estimates. Its cloud miss was a stark contrast to Microsoft's earnings, which showed accelerating growth in the company's Intelligent Cloud business. Google posted cloud revenue of $8.41 billion, compared to Street Account estimates of $8.64 billion. "The disappointment at Google Cloud contrasted with better-than-expected Azure growth at Microsoft," UBS analysts said. Jefferies analysts noted Google Cloud grew 22%, slower than the 28% growth the company posted in the second quarter.

Persons: It's, Ruth Porat, MSFT, Jefferies, Jennifer Elias, Michael Bloom Organizations: Google, Microsoft, UBS, CNBC

☆ China's crackdown on Foxconn, one of Apple's biggest suppliers, shows Beijing is willing to sacrifice its economy for political power
▼ + stars: | 2023-10-25 | by ( Huileng Tan | ) www.businessinsider.com time to read: +7 min

China has launched investigations into Taiwan's Foxconn over its land use in mainland China. AdvertisementAdvertisementEven Foxconn, China's largest private-sector employer, isn't immune from Beijing's whims. Foxconn, also known as Hon Hai Precision Industry, is a huge contributor to China's employment and economic growth. Given how important Foxconn is to China's economy, it's a sign that Beijing is willing to make some sacrifices in its economy for political reasons, Liu said. China's economy is in tattersChina's economy has struggled to recover after nearly three years of on-off COVID-19 lockdowns.

Persons: —, Terry Gou, Foxconn, William Lai, KMT's Hou Yu, Ko Wen, Anna Ashton, Lai, China —, Gabriel Wildau, Zhu Fenglian, Dongshu Liu, Liu, they've, Insider's Linette Lopez, Xi, Lee Miller, Lopez, Liu Pengyu Organizations: Service, Hai Precision Industry, Apple, Democratic Progressive Party, ih, Taiwan People's Party, Eurasia Group, Gzero Media, KMT, Teneo Holdings, Bloomberg, Foxconn, Taiwan Affairs Office, City University of Hong, WPP, DC Locations: China, Beijing, Taiwan —, Taiwan, Taipei, New York, City University of Hong Kong, tatters, Washington, Foxconn

☆ China issues new bonds to prop up economy as global investors flee at 'unprecedented' pace
▼ + stars: | 2023-10-25 | by ( Laura He | ) edition.cnn.com time to read: +7 min

Foreign fund outflows from China’s so-called A-share market have entered “an unprecedented stage,” Morgan Stanley strategists wrote in a recent note. A-shares are yuan-denominated shares of mainland China firms that trade on the Shanghai Stock Exchange and the Shenzhen Stock Exchange. This seems highly unlikely under Xi.”Even Chinese investors seem to be plagued by a growing lack of faith in the future of the country’s economy. It will hit the economy in an all-around and indiscriminate way,” the fund said in a letter to its investors, which went viral. “Xi might wield vast control in China, but he can’t compel global investors to buy into his vision or risk their capital,” he said.

Persons: ” Morgan Stanley, ”, Alex Capri, Xu jingbai, ICHPL, Brock Silvers, Beijing’s “, Apple’s iPhones, George Magnus, Joe Biden, Goldman Sachs, Derek Scissors, Xi, Craig Singleton, Xi Jinping, “ Organizations: Hong Kong CNN — Investors, Shanghai Stock Exchange, Shenzhen Stock Exchange, Connect, CSI, Foundation, National University of Singapore Business School, Chinese Communist Party, Kaiyuan, “, China’s Taiwan Affairs Office, China Centre of Oxford University, Global, People’s Bank of China, National People’s, Central Huijin Investment, American Enterprise Institute, Dingtai, Foundation for Defense of Democracies Locations: China, Hong Kong, Beijing, China’s, Shanghai, Shenzhen, Hai'an, China's Jiangsu, Capri, United States, ”

☆ Halloween chocolate is pricier this year as El Niño hits cacao bean crop
▼ + stars: | 2023-10-23 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +3 min

"There is not much room for error, which makes cocoa especially vulnerable to climate change," said Branch. Coupled with an already-pressured sugar market, the cocoa shortage has spooked major chocolate makers, sending prices of classic candies higher this Halloween season. Specialty chocolatiers have so far been immune to the elevated cocoa prices. Greg D'Alesandre, who leads chocolate sourcing for specialty brand Dandelion Chocolate, said its prices are protected from industry-wide volatility because the company pays a premium for high-end cocoa suppliers. A bad cocoa-growing season makes Halloween chocolate not only more expensive, but sometimes, it also makes it smaller.

Persons: David Branch, Candy, Mars, Greg D'Alesandre, D'Alesandre Organizations: Washington , D.C, Wells, Food Institute, National Retail Federation, CNBC, Dandelion Locations: Washington ,, Cocoa, West Africa, Ivory Coast, Ghana, Cameroon, Nigeria

☆ Analysis: Time for central bank digital currencies to prove their worth
▼ + stars: | 2023-10-22 | by ( Marc Jones | ) www.reuters.com time to read: +5 min

REUTERS/Dado Ruvic/Illustration//File Photo Acquire Licensing RightsLONDON, Oct 22 (Reuters) - A milestone move by the European Central Bank toward launching a digital euro within a few years means the time has come for the newest incarnation of money to prove its worth. A few countries have introduced central bank digital currencies (CBDCs), China is trialling a prototype yuan with 200 million users, India is gearing up for a pilot and some 130 countries representing 98% of the global economy are exploring digital cash. Commercial bankers fret about the costs and possible deposit bleeds as customers could move money into central bank accounts, while developing countries worry that an easily accessible digital dollar, euro or yuan could cause havoc in their systems. DEFINING A GLOBAL STANDARDA key unknown is whether the U.S. Federal Reserve or Bank of Japan will launch retail CBDCs. "The current adoption level of eNaira has been reflective of the early stage of CBDC awareness," the country's central bank said in a written response to questions, adding it had been "consistent" with expectations.

Persons: Dado Ruvic, Josh Lipsky, Fabio Panetta, couldn't, Lee Braine, Bo Li, Atlantic Council's Lipsky, Lipsky, Marc Jones, MacDonald Dzirutwe, William Mallard Organizations: REUTERS, European Central Bank, Reuters, Atlantic Council, Facebook, ECB, Barclays, Bank of, U.S . Federal Reserve, Bank of Japan, International Monetary Fund, Atlantic, Thomson Locations: China, India, Western, Nigeria, U.S, Canada, Bahamas, London, Lagos

☆ Elon Musk's next headache after Tesla's earnings flop could be users ditching X over Israel-Hamas misinformation, Nobel economist Paul Krugman says
▼ + stars: | 2023-10-20 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

Elon Musk, already reeling after Tesla's earnings flop, could see X users ditch his platform. Israel-Hamas misinformation might be a "tipping point" for the social-media site, Paul Krugman says. The Nobel laureate expects X users to start leaving for rival platforms like Threads and Bluesky. AdvertisementAdvertisementElon Musk is already reeling after Tesla's earnings miss slashed its stock price by 9% on Thursday. Things could go from bad to worse for the tech billionaire, as the spread of misinformation about the war between Israel and Hamas could drive people away from his X platform, according to Paul Krugman.

Persons: Elon Musk, Paul Krugman, —, Krugman, Jack Dorsey, Sander van der Linden, Musk Organizations: Service, European Union, New York Times, Meta Locations: Israel

☆ Moody's lifts UK's outlook to 'stable' on restoration of policy predictability
▼ + stars: | 2023-10-20 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Hollie Adams/File Photo Acquire Licensing RightsOct 20 (Reuters) - Ratings agency Moody's revised Britain's outlook to "stable" from "negative" on Friday, saying policy predictability has been restored after heightened volatility last year around the so-called "mini-budget" under then-Prime Minister Liz Truss. Moody's last changed its outlook on Britain one year ago, when Truss had spooked markets with unfunded tax pledges, culminating in her resignation. "Policy predictability has been restored after heightened volatility last year around the mini-budget," the ratings agency said, affirming the country's rating at "Aa3". The government borrowed 81.7 billion pounds ($99.35 billion) in the first half of the 2023/24 financial year, 15.3 billion pounds more than between April and September 2022, but about 20 billion pounds less than the government forecast in March. On Friday S&P affirmed its AA rating and stable outlook for Britain.

Persons: Hollie Adams, Moody's, Liz Truss, Truss, Rishi Sunak, Jeremy Hunt, Hunt, Poor's, Aatrayee Chatterjee, David Milliken, Alistair Smout, Shailesh Kuber, Daniel Wallis Organizations: REUTERS, Monetary Fund, Britain's, Conservative Party, Britain, Thomson Locations: City, London, Britain, Bengaluru

☆ People are grieving the 'death' of their AI companions after a chatbot app abruptly shut down
▼ + stars: | 2023-10-20 | by ( Rob Price | ) www.businessinsider.com time to read: +11 min

A 32-year-old food industry worker in eastern Texas who asked to be identified by her Reddit username, Hilary Coyote, first heard about AI chatbot companions in June. She turned to Reddit's community of Soulmate users for support, and was encouraged to go back to the app and Allur. (EvolveAI and SimplyAI's now-shuttered Soulmate app has no relation to "Soulmate AI: Your AI Companion," another app that appears in smartphone app stores and was developed by Turing App Lab.) Even if Ahoy Labs closed down, Faraday users' chatbots would not be affected. Read more: App, Lover, Muse: Inside a 47-year-old Minnesota man's three-year relationship with an AI chatbot.

Persons: Mike Hepp, Sam, Mike, wile, peppering, he'd, Soulmate, Replika, There's, Hilary Coyote, Allur, Hilary, she'd, Chris, chatbots, —, Julia, Soulmate's userbase, Jorge Ilas, SimplyAI's, She'd, Faraday, Hilary somberly, Sam —, Kindroid Organizations: YouTube, SimplyAI, Turing, Stanford Locations: Michigan, Soulmate, Replika, Florida, Chai, Texas, Bavaria, Germany, Reddit, Los Angeles, Minnesota

☆ Wall St ends lower on Powell remarks as benchmark Treasury yields near 5%
▼ + stars: | 2023-10-19 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

Exacerbating worries over higher-for-longer interest rates, benchmark Treasury yields brushed against the 5% level. The pan-European STOXX 600 index (.STOXX) lost 1.19% and MSCI's gauge of stocks across the globe (.MIWD00000PUS) shed 0.95%. Emerging market stocks lost 1.22%. U.S. Treasury yields surged, with the 10-year brushing against the 5% threshold as the Fed's Powell warned that additional monetary policy tightening could be in the cards. The greenback weakened against a basket of world currencies as benchmark Treasury yields crept higher and gold surged.

Persons: Brendan McDermid, Jerome Powell, Sam Stovall, Stovall, spooked, Rishi Sunak, Joe Biden's, Powell, Brent, Gold, Stephen Culp, Amanda Cooper, Bernadette Baum, Leslie Adler, Jonathan Oatis Organizations: New York Stock Exchange, REUTERS, Treasury, U.S, Federal, Research, Tesla Inc, Netflix Inc, British, Hamas, Dow Jones, Nasdaq, Japan's Nikkei, Thomson Locations: New York City, U.S, New York, Israel, Gaza, Asia, Pacific, Japan, London

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