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TOKYO, June 27 (Reuters) - The U.S. dollar held firm against major currencies on Tuesday as tension simmered in Russia and traders looked ahead to U.S. data that may determine the timing of further interest rate hikes. The Russian rouble weakened 0.41% versus the dollar at 84.75 after hitting its weakest level since March 2022. Japan intervened to boost the yen last year when it weakened past the 145 per dollar level. U.S. data this week include new orders for durable goods, housing figures, and consumer surveys from The Conference Board and University of Michigan. If the U.S. economic data comes out on the strong side, then further pricing in for the two rate hikes will push up the dollar," Yamamoto said.

Persons: Vladimir Putin, Shunichi Suzuki, Masafumi Yamamoto, Yamamoto, Christine Lagarde, Sterling, Rocky Swift, Christopher Cushing, Barbara Lewis Organizations: U.S, Japanese Finance, Conference Board, University of Michigan, Federal Reserve, Mizuho Securities, European Central Bank, ECB, Central Banking, Thomson Locations: TOKYO, Russia, Russian, U.S, Sintra , Portugal, China, China's

It was the first time the BOJ summary showed a board member explicitly mentioning the need for an early debate of a tweak to YCC, which contrasts with Governor Kazuo Ueda's remarks ruling out any imminent change in policy. Under YCC, the BOJ guides short-term interest rates at -0.1% and the 10-year bond yield around zero as part of efforts to sustainably achieve its 2% inflation target. Some market players bet the central bank could tweak YCC, such as by widening the allowance band set around the 10-year yield target, as early as July to address market distortions caused by its huge bond buying. FRESH YEN WORRIESYCC is also blamed by some analysts for causing an unwelcome yen fall that pushes up raw material import costs. However, Kanda stopped short of saying Japan was ready to take "decisive action" - language he used shortly before Japan stepped into the currency market last year.

Persons: policymaker, Kazuo Ueda's, Ueda, Daisaku Ueno, MItsubishi UFJ, MItsubishi UFJ Morgan Stanley, YCC, Masato Kanda, Kanda, Shunichi Suzuki, Japan's, Leika Kihara, Shri Navaratnam, Sam Holmes Organizations: Bank of Japan, MItsubishi, MItsubishi UFJ Morgan, MItsubishi UFJ Morgan Stanley Securities, Finance, Thomson Locations: TOKYO, Japan, Asia

☆ NHL joins MLB in advising teams to halt wearing ‘Pride’ jerseys
▼ + stars: | 2023-06-23 | by ( Kevin Dotson | ) edition.cnn.com time to read: +3 min

CNN —National Hockey League Commissioner Gary Bettman said he has advised NHL teams to no longer wear specialty-themed jerseys during warm-ups, including Pride-theme jerseys. The decision follows Major League Baseball’s announcement last week that teams would not put Pride logos on players’ uniforms and after a handful of NHL players refused to wear Pride sweaters or participate in their teams’ Pride Nights due to their personal beliefs. Some hockey teams opted to forgo their planned Pride Night warmup jerseys altogether. “Thirty-two of our clubs did Pride nights, some do Heritage nights, everybody does Hockey Fights Cancer, some do military nights. Francois Lacasse/NHLI/Getty ImagesBettman also confirmed that NHL Pride jerseys will still be designed and sold and players are free to wear them when they are not on the ice.

Persons: Gary Bettman, “ I’ve, it’s, ” Bettman, Bettman, ”, “, that’s, Nick Suzuki, Francois Lacasse, Rob Manfred, ” Manfred Organizations: CNN — National Hockey League, NHL, League, Sportsnet, Cancer, Montreal Canadiens, Washington Capitals, Bell Centre, NHL Pride, MLB, CNN Locations: Canadian, Montreal

☆ Japan's Suzuki to make 'flying cars' with SkyDrive
▼ + stars: | 2023-06-20 | by ( ) www.reuters.com time to read: +1 min

TOKYO, June 20 (Reuters) - Japanese automaker Suzuki Motor Corp (7269.T) said on Tuesday it had reached an agreement with SkyDrive Inc to make "flying cars". The companies will use a Suzuki Group factory in central Japan to make electric vertical take-off and landing (eVTOL) aircraft and aim to begin production by around spring next year, Suzuki said in a statement. SkyDrive will establish a wholly owned subsidiary to make the aircraft and Suzuki will help with preparations for the manufacturing, including securing talent, the automaker said. Headquartered in the city of Toyota in central Japan, SkyDrive has trading house Itochu Corp (8001.T), tech firm NEC Corp (6701.T) and a unit of energy company Eneos Holdings Inc (5020.T) among its main shareholders. The two companies signed a deal in March last year to team up in research, development and marketing of flying cars.

Persons: Suzuki, SkyDrive, Satoshi Sugiyama, Robert Birsel Organizations: Suzuki Motor Corp, SkyDrive Inc, Suzuki Group, Toyota, Itochu Corp, NEC Corp, Eneos Holdings, Thomson Locations: TOKYO, Japan

☆ MLB roundup: Joey Votto stars in return for streaking Reds
▼ + stars: | 2023-06-20 | by ( ) www.reuters.com time to read: +7 min

Lindor had a three-run homer and a two-run double, and Vogelbach hit a solo shot and a two-run single. Tigers 6, Royals 4Kerry Carpenter capped a five-run uprising in the seventh inning with a three-run homer as host Detroit rallied past Kansas City. Maikel Garcia had a two-run home run and Bobby Witt Jr. hit a solo shot for Kansas City. Red Sox 9, Twins 3Alex Verdugo drove in four runs and Triston Casas added a two-run homer as Boston won its fifth straight game, beating Minnesota in Minneapolis. Christian Vazquez hit a three-run homer against his former team as the Twins lost for the fourth time in five games.

Persons: Joey Votto, David Kohl, Alex Young, Alexis Diaz, Elias Diaz, Jorge Alfaro, Austin Gomber, Jorge Soler, Luis Arraez, Arraez, Ty Cobb, Stan Musial, Ichiro Suzuki, Tony Gwynn, Jose Berrios, Huascar Brazoban, Mike Yastrzemski, Ray Kerr, Yastrzemski, Camilo Doval, Juan Soto, Brendan Donovan, Paul Goldschmidt, Louis, Jack Flaherty, Goldschmidt, Luis Garcia's, Josiah Gray, Daniel Vogelbach, Francisco Lindor slugged, Max Scherzer, Lindor, Vogelbach, Yainer Diaz, Hunter Brown, Kerry Carpenter, Tyler Alexander, Alex Lange, Jake Rogers, Maikel Garcia, Bobby Witt Jr, Mike Tauchman, Drew Smyly, Nico Hoerner, Dansby Swanson, Seiya Suzuki, Pittsburgh's Osvaldo Bido, Alex Verdugo, Casas, Jarren Duran, James Paxton, Christian Vazquez, Pablo Lopez, Alek Thomas, Corbin Burnes, Thomas, Merrill Kelly, Jonah Heim, Josh Jung, Andrew Heaney, Tanner Banks Organizations: Cincinnati Reds, Colorado Rockies, Rockies, Marlins, Blue Jays, Miami, Toronto, Giants, Padres, San, Cardinals, Nationals, Washington, Mets, Astros, Tigers, Royals, Detroit, Kansas City, Cubs, Pirates, Chicago spanked, Red Sox, Boston, Minnesota, Twins, Diamondbacks, Brewers, Milwaukee, Triple, Rangers, White Sox, Chicago, The Rangers, Texas, Thomson Locations: Cincinnati , Ohio, USA, San Francisco, San Diego, St, New York, Houston, Kansas, Carpenter's, Chicago spanked Pittsburgh, Minneapolis, Arizona, Reno, Texas, Chicago

☆ Japan finmin says no change in FX policy after US report
▼ + stars: | 2023-06-20 | by ( Tetsushi Kajimoto | ) www.reuters.com time to read: +2 min

TOKYO, June 20 (Reuters) - Japan's currency policy won't immediately change after the United States removed the country from its monitoring list, Finance Minister Shunichi Suzuki said on Tuesday, noting that the move came in coordination with Washington. "As for currency policy, we'll keep close communications with the United States and other countries," Suzuki told reporters. "The fact that Japan was removed from the list doesn't immediately mean that we would respond in a different way from before or there's any impact." A Treasury official said that Japan was dropped from the monitoring list because it only met one of the three criteria for two monitoring periods in a row. "Currency levels such as the dollar/yen should be determined by markets based on fundamentals and stable moves are desirable," Suzuki said.

Persons: Shunichi Suzuki, we'll, Suzuki, Tetsushi Kajimoto, Kim Coghill, Gerry Doyle Organizations: Finance, Washington, U.S, Treasury, Bank of Japan's, Thomson Locations: TOKYO, United States, Japan, Switzerland, China, Taiwan, South Korea, Germany, Malaysia, Singapore, Asia

☆ These tiny Japanese pick-up trucks that cost about $5,000 are winning fans in America
▼ + stars: | 2023-06-18 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +3 min

Tiny Japanese trucks that cost as little as $5,000 are winning over some Americans. It's not just tiny homes taking America by storm – now tiny trucks made in Japan are becoming increasingly popular too. The tiny trucks are a common sight on Japanese roads, but they've also won over some Americans wanting a versatile, compact – and cheap – vehicle. The cheapest Kei truck sold by Japan Car Direct is about $5,000, with shipping costs accounting for much of that sum. Japan Car Direct and its competitors will walk customers through the import process, which requires several forms to be completed.

Persons: they've, It's, Kei, Subaru Sambar, Suzuki, Matt Matusiak, we've, Matusiak, there's Organizations: Japan, Morning, Daihatsu, Subaru, Mitsubishi, Honda, Nissan, of Transportation, Environmental Protection, Vehicles, Twitter Locations: America, Japan, Pennsylvania

As widely expected, the BOJ maintained its -0.1% short-term interest rate target and a 0% cap on the 10-year bond yield set under its yield curve control (YCC) policy. The yen fell broadly following the decision and hit a fresh 15-year low of 154.70 per euro and was set for the biggest weekly decline against the single currency in three years. Reuters GraphicsFED FACES GRIM DATAThe ECB's monetary policy decision came a day after the U.S. Federal Reserve left interest rates unchanged, snapping a string of 10 consecutive rate hikes. Production at U.S. factories almost stalled in May as manufacturing struggled under the weight of higher interest rates, while U.S. import prices similarly fell last month. Against a basket of currencies , the dollar index edged up 0.03% to 102.17, after slipping to a one-month low on Thursday.

Persons: we're, Kazuo Ueda, Hirofumi Suzuki, Goldman Sachs, Christine Lagarde, Shaun Osborne, Joice Alves, Rae Wee, Philippa Fletcher, Sohini Organizations: LONDON, Bank of Japan, European, Bank's, U.S, ECB, Sterling, Bank of England, Reuters Graphics, U.S . Federal Reserve, Fed, Labor Department, Scotiabank, Thomson Locations: SINGAPORE, United States, Europe, Toronto, London, Singapore

The BOJ's decision contrasts sharply with that of the European Central Bank, which raised borrowing costs to a 22-year high on Thursday and signalled the likelihood of further hikes. Also this week, the U.S. Federal Reserve on Wednesday signalled it was not yet done with its fight against inflation. As widely expected, the BOJ maintained its -0.1% short-term interest rate target and a 0% cap on the 10-year bond yield set under its yield curve control (YCC) policy. An upgrade to the BOJ's inflation forecast in a quarterly review in July is seen as a done-deal, though central bank officials have said a rise in inflation alone won't automatically trigger a policy shift. Ueda has said solid, sustained wage growth must accompany rising inflation for the BOJ to contemplate a policy tweak.

Persons: Kazuo Ueda's, Ueda's, Shigeto Nagai, Izuru Kato, Shunichi Suzuki, Ueda, Leika Kihara, Kantaro Komiya, Sam Holmes Organizations: Bank of Japan, European Central Bank, U.S . Federal Reserve, Oxford Economics, Totan, Graphics, Thomson Locations: TOKYO, Japan

☆ Yen slips after BOJ stands pat, soft data dents dollar
▼ + stars: | 2023-06-16 | by ( Rae Wee | ) www.reuters.com time to read: +4 min

As widely expected, the BOJ maintained its -0.1% short-term interest rate target and a 0% cap on the 10-year bond yield set under its yield curve control (YCC) policy. The U.S. dollar was last roughly 0.1% higher at 140.42 yen . That and a run of soft U.S. economic data saw the dollar fall broadly as traders scaled back their bets on how high U.S. interest rates would need to rise. FED HAWKISHNESS CHALLENGEDThe ECB's monetary policy decision came a day after the U.S. Federal Reserve left interest rates unchanged, snapping a string of 10 consecutive rate hikes. Production at U.S. factories almost stalled in May as manufacturing struggled under the weight of higher interest rates, while U.S. import prices similarly fell last month.

Persons: Kazuo Ueda's, Hirofumi Suzuki, Christine Lagarde, Sterling, Rae Wee, Edwina Gibbs, Kim Coghill Organizations: Bank of Japan, U.S, European Central Bank, ECB, Deutsche Bank, Bank of England, U.S . Federal Reserve, Fed, Labor Department, Thomson Locations: SINGAPORE, Asia, United States

That yen hoard has mostly been held as cash with the aim of ploughing into Japanese bonds when yields eventually turn higher. "We're all waiting for the end of YCC so we can buy JGBs," said a Japanese pension fund manager who requested anonymity as he is not authorized to speak to media. Japanese banks have ploughed money into overseas bonds, but insurance firms and pension funds have kept their powder dry. MARKETS WONT BLINKSuch is the positioning and inertia among long term Japanese investors that analysts expect markets to barely blink even if the BOJ plays for time this week. Lifers and pension funds say they have very little exposure to Japanese government bonds, so a surprise policy change won't hurt them either.

Persons: Androniki, Haruhiko Kuroda, Kazuo Ueda, Bart Wakabayashi, Hirofumi Suzuki, Suzuki, Kevin Buckland, Ankur Banerjee, Vidya Ranganathan Organizations: REUTERS, Bank of, Japan, Nippon Life Insurance, Sumitomo Life Insurance, Insurance, State, Thomson Locations: Japan, Tokyo, TOKYO, SINGAPORE, YCC, Singapore

TOKYO, June 13 (Reuters) - Toyota (7203.T) faces an unprecedented challenge at its annual shareholder meeting on Wednesday, with some pension funds voting against Chairman Akio Toyoda on governance issues, while seeking more disclosures on the Japanese automaker's climate lobbying. Two prominent U.S. proxy advisers have flagged concern about Toyota's board independence. The step comes as companies across Japan face more pressure from investors, especially on environmental, social and governance (ESG) issues. The strong financial performance has meant concerns about board independence have largely been shrugged off, said Kazunori Suzuki of Waseda Business School. He enjoys strong support from individual investors and the many suppliers and Toyota group companies among its shareholders.

Persons: Akio Toyoda, Toyoda, Kentaro Shibata, Kazunori Suzuki, Anders Schelde, Denmark's, AkademikerPension, AkademikerPension's Schelde, Nicholas Benes, Benes, that's, Makiko Yamazaki, Maki Shiraki, Daniel Leussink, David Dolan, William Mallard, Clarence Fernandez Organizations: Toyota, Nikkei, Waseda Business School, Tokyo, Exchange, Services, International Paralympic Committee, Sumitomo Mitsui Financial Group, Training, of Japan, Nissan, Honda, Reuters, Thomson Locations: TOKYO, New York, Japan, Toyota

☆ Treasurys are very attractive, says Richard Bernstein's Dan Suzuki
▼ + stars: | 2023-06-12 | 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 EmailTreasurys are very attractive, says Richard Bernstein's Dan SuzukiDan Suzuki, deputy chief investment officer at Richard Bernstein advisors, joins 'Power Lunch' to discuss the state of markets and the economy.

Persons: Richard Bernstein's Dan Suzuki Dan Suzuki, Richard Bernstein

☆ MLB roundup: Pirates win slugfest, extend Mets' skid
▼ + stars: | 2023-06-10 | by ( ) www.reuters.com time to read: +11 min

Pittsburgh starter Rich Hill (6-5) allowed two runs and seven hits in seven innings. New York starter Tylor Megill (5-4) gave up nine runs, seven earned, and eight hits in 3 2/3 innings. Arizona starter Merrill Kelly (8-3) gave up three runs and seven hits in 6 1/3 innings. Detroit starter Michael Lorenzen (2-3) was charged with six runs and seven hits in 6 2/3 innings. Cole (7-1) allowed two runs on seven hits in six innings for his first loss since his final regular-season start of last season.

Persons: Will Brennan, David Richard, Carlos Santana, Jack Suwinski, Austin Hedges, Josh Palacios, Rich Hill, Francisco Lindor, Luis Guillorme, Mark Vientos, Francisco Alvarez, Tylor, Tyler Freeman, Kyle Tucker's, Xzavion Curry, Freeman, Seth Martinez, Josh Naylor, Jose Abreu, Jeremy Pena, Isaac Paredes, Tyler Glasnow, Paredes, Michael A, Taylor, Royce Lewis, Sonny Gray, Yusei Kikuchi, Kyle Schwarber, Schwarber, Caleb Ferguson, Trea Turner, Mookie Betts, Freddie Freeman, Orlando Arcia, Arcia, CJ Abrams, Eddie Rosario, Josiah Gray, Jordan Montgomery, Louis, Giovanny Gallegos, Nolan Arenado, Jordan Walker, Nolan Gorman, Ben Lively, Stuart Fairchild, Luis Robert Jr, Liam Hendriks, Yasmani Grandal, Joey Wendle, Corbin Carroll, Carroll's, Emmanuel Rivera, Geraldo Perdomo, Merrill Kelly, Jake Rogers, Zack Short, Javier Baez, Michael Lorenzen, Rafael Devers, Gerrit Cole, Kenley Jansen, Casas, Enrique Hernandez, Josh Donaldson, Cole, Austin Hays, Tyler Wells, Gunnar Henderson, Wells, Felix Bautista, Daniel Lynch, Hays, Ramon Laureano, Luis Medina, Trevor May, Adrian Houser, Owen Miller, Fernando Tatis Jr, Manny Machado, Brandon Dixon, Trent Grisham, Gary Sanchez, Jake Cronenworth, Juan Soto, Xander Bogaerts, Yu Darvish, Josh Hader, Mike Moustakas, Randal Grichuk, Ryan McMahon, Shohei Ohtani, Mickey Moniak, Moniak, Luis Castillo, Nico Hoerner, Marcus Stroman, Stroman, Seiya Suzuki, Tucker Barnhart, Joc Pederson, Thairo Estrada, Anthony DeSclafani Organizations: Cleveland Guardians, Houston Astros, Progressive, Pirates, Pittsburgh, Mets, Astros, Cleveland, Houston, Rangers, Tampa Bay, Rays, Blue Jays, Minnesota, Toronto, Twins, Phillies, Dodgers, Philadelphia, Detroit, Los, Braves, Nationals, Orlando, Atlanta, New York Mets, . Washington, Cardinals, Reds, Cincinnati, Cincinnati . White Sox, Marlins, Chicago, Miami, White Sox, Diamondbacks, Tigers, Red Sox, Yankees, Boston, Yankee Stadium, Orioles, Royals, Baltimore, Kansas City, Athletics, Brewers, Oakland, Milwaukee, Padres, Rockies, San Diego, Colorado, San, The Rockies, Mariners, Seattle, Angels, Cubs, Giants, Thomson Locations: Cleveland , Ohio, USA, York, Tampa, Texas, St . Petersburg, Fla, Minnesota, Los Angeles, Washington, ., Montgomery, Arizona, Detroit, New York, San, Denver, San Diego, Colorado, Anaheim , Calif, San Francisco

☆ Behold Wall Street's new bull market, maybe
▼ + stars: | 2023-06-08 | by ( Chuck Mikolajczak | ) www.reuters.com time to read: +3 min

Part of the uncertainty is that there is no set definition of a bull or bear market, or any sort of regulatory body that declares one, such as the National Bureau of Economic Research (NBER) does with recessions. The most commonly accepted definition is a 20% rise off a low for a bull market and a 20% decline from a high for a bear market, but even that is open to interpretation. "I just think it was a blip within a longer-term bear market." "Certainly it's a bull market in big-cap technology. I wouldn't call it a bull market in a broad market sense, because there are only certain stocks that are really in what we would call bull market territory, and it's just not a broad enough move to call it a sustainable bull market," said Tim Ghriskey, senior portfolio strategist Ingalls & Snyder in New York.

Persons: Howard Silverblatt, Dow, Silverblatt, Sam Stovall, Stovall, Dan Suzuki, Richard Bernstein, Suzuki, it's, Tim Ghriskey, Ingalls, Snyder, Ned Davis, Chuck Mikolajczak, Noel Randewich, Lewis Organizations: YORK, National Bureau of Economic Research, Reuters Graphics Reuters, Dow Jones, Richard, Richard Bernstein Advisors, Nvidia, Ned Davis Research, Thomson Locations: New York

☆ BofA Securities is still bullish on retail despite the sector's recent lag
▼ + stars: | 2023-06-08 | 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 EmailBofA Securities is still bullish on retail despite the sector's recent lagLiz Suzuki of BofA Securities explains the outlook for retail stocks.

Persons: Liz Suzuki Organizations: BofA Securities

☆ Japan central bank's ETF holdings under scrutiny as govt seeks revenue
▼ + stars: | 2023-06-07 | by ( Leika Kihara | ) www.reuters.com time to read: +2 min

Due to Japan's ageing population, people aged 60 years or more hold roughly 60% of total household financial assets. "The government must look into whether it's permissible to buy (the BOJ's ETF holdings) at book value for the purpose of securing sources of revenue," Finance Minister Shunichi Suzuki told parliament. The BOJ's ETF holdings as of March 2023 stood at 37 trillion yen ($265.75 billion) in book value, and 53 trillion yen in market value, according to the central bank's earnings data. BOJ Governor Kazuo Ueda told the same parliament session that it was premature to debate specifics on how the central bank could unload its ETF holdings. Ueda also said that in principle, the central bank plans to sell the ETFs at market value, instead of book value.

Persons: Fumio Kishida, Shunichi Suzuki, Kazuo Ueda, Ueda, Leika Kihara, Simon Cameron, Moore Organizations: Finance, Thomson Locations: TOKYO

☆ A new bull market in stocks won't take off until 3 key factors improve, RBA says
▼ + stars: | 2023-06-07 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

The new bull market won't take off until three things improve, RBA said. The firm pointed to the importance of profits, liquidity, and sentiment when evaluating bull markets. Stocks won't begin a bullish trajectory until at least one of those factors improves, the firm added. Those gains have led some commentators to call the start of a new bull market — but that likely isn't the case until key catalysts show improvement, RBA said. "While it is certainly possible for this rally to evolve into a full-fledged bull market, historical precedent suggests it is far from a foregone conclusion," RBA's deputy chief investment officer Dan Suzuki said in a report on Monday.

Persons: RBA, —, Richard Bernstein, RBA's, Dan Suzuki Organizations: Stocks, Service, Richard Bernstein Advisors, JPMorgan

☆ Japan's yen is weakening again, prompting talk of another intervention worth billions of dollars
▼ + stars: | 2023-06-06 | by ( Jihye Lee | ) www.cnbc.com time to read: +1 min

However, pointing to recent language used by Finance Minister Shunichi Suzuki, she added that immediate action seems less likely. "The language used is definitely not as tough compared to the lead up to the September 2022 intervention," she said. Masato Kanda, Japan's vice minister of finance for international affairs, told reporters last week that the government would step in if needed as the yen showed further weakening, according to Nikkei. Kanda's comments came after an unscheduled meeting between officials at Japan's Finance Ministry, the publication reported. She noted the month-on-month change seen in the currency before the intervention in September had a range of 6% to 8%.

Persons: Goldman Sachs, Shunichi Suzuki, Masato Kanda, Chew Organizations: Bank of Japan, U.S, Bloomberg, Getty, Ministry of Finance, Finance, Nikkei, Japan's Finance Ministry

☆ ‘Not just a fad’: Firm launches fund designed to capitalize on A.I. boom
▼ + stars: | 2023-06-03 | by ( Sean Conlon | ) www.cnbc.com time to read: +1 min

A major ETF firm provider is betting the artificial intelligence boom is just starting. Roundhill Investments launched the Generative AI & Technology ETF (CHAT) less than 20 days ago. It's the first-ever exchange-traded fund designed to track companies involved in generative AI and other related technologies. Mazza notes the fund includes not just pure play AI companies like C3.ai but also large-cap tech companies such as Microsoft and AI chipmaker Nvidia . His bullish forecast comes amid concerns AI is a price bubble that will pop and take down the Big Tech rally.

Persons: Dave Mazza, Richard Bernstein, Dan Suzuki —, — Organizations: Roundhill Investments, Technology, Microsoft, Nvidia, Big Tech, Richard Bernstein Advisors

☆ Analysts are bailing on this auto parts retailer after a massive earnings miss
▼ + stars: | 2023-06-01 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Advance Auto Parts ' massive earnings miss has drawn strong analyst concern. Both Goldman Sachs and JPMorgan downgraded Advance Auto Parts to neutral Thursday. Advance Auto Parts reported an adjusted 72 cents per share, far below analysts polled by Refinitiv's expectations of $2.57. AAP YTD mountain Advance Auto Parts stock is down more than 50% in 2023. Bank of America also downgraded Advance Auto Parts to neutral Thursday and slashed its price target to $85 from $178.

Persons: Goldman Sachs, Christopher Horvers, Horvers, Kate McShane, Elizabeth Suzuki, — CNBC's Michael Bloom Organizations: JPMorgan, AAP, Bank of America

☆ Japan April factory output unexpectedly falls on weaker machinery orders
▼ + stars: | 2023-05-31 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Issei KatoTOKYO, May 31 (Reuters) - Japan's factory output unexpectedly fell in April, government data showed on Wednesday, as production machinery orders slowed amid weakening global demand, casting doubts about recovery in the world's third-largest economy. Factory output fell 0.4% in April from the previous month on a seasonally adjusted basis. Output of semiconductor-manufacturing equipment fell 24.6% while flat panel manufacturing equipment dropped 66.6%. A METI official said U.S. export controls to China were not a factor in the decline in chip-making equipment shipments. Still, the METI official said there is a risk of downward adjustment in production plans due to overseas weakness.

Persons: Issei Kato TOKYO, Kota Suzuki, Satoshi Sugiyama, Chang, Ran Kim, Christian Schmollinger, Sam Holmes Organizations: REUTERS, Ministry, Economy, Trade, Industry Official, Manufacturers, Daiwa Securities, Thomson Locations: Kawasaki, Japan, China

☆ Biggest market risk is tech rally running at extreme levels, says Richard Bernstein's Dan Suzuki
▼ + stars: | 2023-05-31 | by ( ) 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 EmailBiggest market risk is tech rally running at extreme levels, says Richard Bernstein's Dan SuzukiDan Suzuki, Deputy Chief Investment Officer at Richard Bernstein, joins 'Fast Money' to discuss the bear case for Big Tech.

Persons: Richard Bernstein's Dan Suzuki Dan Suzuki, Richard Bernstein Organizations: Big Tech

Kishida has vowed to double childcare spending over the next three years in a bid to help reverse the country's dwindling birth rate. The government had previously estimated that it needed to secure around 3 trillion yen per year to cover the expansion of childcare allowances and other related benefits. Kishida unveiled the increased size of spending at a meeting of ministers, including Finance Minister Shunichi Suzuki, Goto said. The economy minister also attended the meeting. "Prime Minister Kishida told us to consider expanding childcare measures by around 3.5 trillion yen in the process of compiling the annual budget," Goto told reporters.

Persons: Fumio Kishida, Shigeyuki Goto, Kishida, Shunichi Suzuki, Goto, Kyodo newsagency, Yoshifumi Takemoto, Himani Sarkar Organizations: Finance, Kyodo, Thomson Locations: TOKYO, Japan

☆ New Story Collections on Life’s Absurdities and Pains
▼ + stars: | 2023-05-30 | by ( Jen Vafidis | ) www.nytimes.com time to read: +1 min

Gender, relationships, family and the meaning of pop culture. But does “Almost Famous” have a scene when the sky opens to reveal giant chopsticks hovering over salmon roe as big as skyscrapers? A minor description from Theodore McCombs’s inquisitive fantasia URANIANS (Astra House, 210 pp., $25), his debut collection, illuminated the whole book for me. The main character in “Laguna Heights,” frustrated by memory gaps caused by his top-shelf neurotechnology, is called the “sort of man pleased to remember that old movies are still in the world.” He’s not pleased; he’s the kind of person who would be pleased. This detached phrasing, however tossed-off, tore me out of the moment, and confronted me with an iffy behavioral theory: Identity predetermines emotions and actions, and emotions and actions reinforce identity, in one smooth loop.

Persons: I’ve, Reiko, bender, you’ve, Theodore McCombs’s, fantasia, ”, He’s Organizations: Astra House Locations: Laguna Heights

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