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☆ Middle-class movers are heading to these three cities in search of affordability
▼ + stars: | 2023-11-13 | by ( Jordan Pandy | ) www.businessinsider.com time to read: +6 min

Middle-class movers are choosing Las Vegas, Phoenix, and San Antonio as top destinations. It was the second-most popular destination for middle-class movers coming from out of state, the report said. While cities like Austin saw a surge in home prices, San Antonio has been able to maintain some of its affordability. AdvertisementAdvertisement"If you were to ask me, I'd still tell you San Antonio's more affordable than most cities in Texas," San Antonio real-estate agent Ricardo "Rico" Riojas, Jr. told Insider. San Antonio, Texas.

Persons: —, Andrew Arevalo, Getty Images Arevalo, Redfin, Arevalo, there's, he's, We've, Stephanie K, Dow, I'd, Ricardo, Rico, Riojas, Jr, Allan Baxter, San Antonio — Organizations: Service, Denver, Pew Research, Getty Images, MLS, Las Vegas, San Antonio, Getty, Austin Locations: Vegas, Phoenix, San Antonio, The Nevada, Arizona , Nevada , Florida, Texas, Sin, Colorado, Nevada and Colorado, Clark County, Las Vegas, Denver, California, Arizona, Phoenix , Arizona, San, . Texas, Austin, Antonio, Antonio , Texas

☆ Stock futures are little changed after Moody’s downgrades U.S. outlook: Live updates
▼ + stars: | 2023-11-12 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

Traders work on the floor of the New York Stock exchange during morning trading on November 10, 2023 in New York City. U.S. stock futures inched down Sunday night after Moody's Investors Service lowered its U.S. credit rating outlook to negative from stable. Moody's on Friday underscored the U.S.' "very large" fiscal deficits and partisan gridlock in Washington as contributing factors for the downgrade. The ratings agency reaffirmed America's credit rating at AAA, the highest level. The S&P 500 rose 1.3% the previous week, while the Dow and Nasdaq gained about 0.7% and 2.4%, respectively.

Persons: Moody's, Fitch, Jay Hatfield, That's, Lisa Cook Organizations: New York Stock, Moody's Investors Service, Dow Jones Industrial, Nasdaq, AAA, U.S, Infrastructure Capital Management, Federal Reserve Bank of New, Dow Locations: New York City . U.S, Washington, Hatfield

☆ Jefferies upgrades this little-known biotech stock with more than 100% upside
▼ + stars: | 2023-11-10 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +1 min

The firm upgraded shares of the late-stage biotech to buy from hold, lifting its price target to $26 from $18. Shares of Vera Therapeutics have fallen 37.8% this year, but analyst Farzin Haque believes the stock's recent pullback now means an attractive entry point for investors. VERA YTD mountain VERA YTD chart "W/ shares down –30% (vs XBI –13%) since Sept 21 TVTX data release, we have become more optimistic about atacicept (dual BAFF/APRIL) clin profile," Haque wrote. Atacicept, which Vera took over from Merck, is a drug that treats certain autoimmune diseases. "W/ recent increasing focus on eGFR, VERA's OLE data from ph.II for longer-term eGFR data (expected 1Q24) has now become an important catalyst for the stock," Haque said.

Persons: Vera, Jefferies, Vera Therapeutics, Farzin Haque, VERA YTD, VERA, Haque, Lupus nephritis, — CNBC's Michael Bloom Organizations: Vera, Merck Locations: ph.II

☆ San Francisco's retail crime may not be as bad as you think
▼ + stars: | 2023-11-09 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +3 min

Early 2022 seemed to be a dire time for San Francisco, with shocking examples of retail crime. But according to a recent report, retail crime in San Franciscio is now 5% below its pre-pandemic norm. Retailers like Whole Foods and Walgreens referenced retail crime as a rationale for shuttering San Francisco stores. A San Francisco Target placed more merchandise under lock and key and increased reporting to police. Of the numerous challenges confronting San Francisco one year ago, retail crime is one that at least seems not to be getting worse.

Persons: —, Elon Musk, that's, there's, San Organizations: San, Service, Walgreens, Billionaire, Criminal Locations: San Francisco, Franciscio, Chattanooga , Tennessee, Memphis, Tennessee, Lincoln , Nebraska, Bay

NEW YORK, Nov 6 (Reuters Breakingviews) - Elon Musk does well when his back is against the wall. His investment in X now fills the longshot role, which leaves him little to lose. Grok, as it is called, has “real-time access to info via the X platform,” Musk noted in a post, which gives it a “massive advantage” over other AI models. Although the product is still being tested, Musk says it already can out-compute OpenAI’s GPT-3.5 and Meta Platforms' (META.O) Llama 2. X may be near, or already has hit, rock bottom, right where Musk often does his best work.

Persons: Elon, Tesla, Musk, ” Musk, Linda Yaccarino, X, Billionaire Elon Musk, Jeffrey Goldfarb, Sharon Lam Organizations: Reuters, Twitter, New York Times, Microsoft, New, Billionaire, OpenAI, Thomson

☆ How the market's forgotten stocks could lead a 'once-in-a-generation' buying opportunity
▼ + stars: | 2023-11-04 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +5 min

A once-in-a-generation opportunity is coming for the stock market, according to investment chief Richard Bernstein. AdvertisementAdvertisementBrace for a big investing opportunity that's about to come for stocks — and not in an area of the market investors may be expecting. That's according to Richard Bernstein, the CIO of Richard Bernstein Advisors, a $16 billion asset manager. That coming pendulum swing in market leadership is a "once-in-a-generation" buying opportunity brewing among forgotten and under-loved areas of the market, Bernstein says. Richard Bernstein Advisors"Because growth is starting to accelerate, it makes less and less sense to pay a premium for growth.

Persons: Richard Bernstein, —, Bernstein, Merrill Lynch —, RBA, Russell, Bernstein isn't Organizations: Service, Richard Bernstein Advisors, Amazon, Bank of America

☆ Job growth slowed in October as the economy settled into a new normal
▼ + stars: | 2023-11-03 | by ( Madison Hoff | Juliana Kaplan | ) www.businessinsider.com time to read: +7 min

AdvertisementAdvertisementThe US economy added 150,000 jobs in October, based on nonfarm payroll employment growth from the Bureau of Labor Statistics or BLS. That's less than September's revised job growth of 297,000. After two straight months of an unemployment rate at 3.8%, the unemployment rate rose slightly to 3.9%. Some of the industries that saw job growth from September to October included healthcare, construction, and leisure and hospitality. "The labor market remains tight, but supply and demand conditions continue to come into better balance," Powell said.

Persons: Jerome Powell, —, payrolls, Biden, Labor Julie Su, Aaron Terrazas, Nick Bunker, that's, Bunker, might've, Terrazas, Powell Organizations: Service, Bureau of Labor Statistics, BLS, Labor, That's, North America, Gross, Bureau, Board, Conference Board

☆ Asia markets rise ahead of key economic data
▼ + stars: | 2023-11-03 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: 1 min

Hong Kong Street Scene, Mongkok District with busses Nikada | E+ | Getty ImagesAsia-Pacific markets rose at the end of the week, with investors awaiting a fresh round of data for more clues on the health of services activity through the region. Services purchasing managers' index data from major economies including China, India and Hong Kong are set to be released throughout the day. Futures for Hong Kong's Hang Seng index stood at 17,455, pointing to a higher open compared with the HSI's close of 17,230.59. South Korea's Kospi rose 0.78% at the open, while the Kosdaq was up 0.14%. Japan markets were shut for a public holiday.

Organizations: Getty, Services Locations: Hong, Mongkok District, Asia, Pacific, China, India, Hong Kong, Japan, Australia

☆ Ken Griffin vs. the IRS
▼ + stars: | 2023-11-01 | by ( The Editorial Board | ) www.wsj.com time to read: 1 min

Journal Editorial Report: The former VP goes out as a politician who put his country first. Meanwhile, Biden's spending is now Mike Johnson's problem. Images: Zuma Press Composite: Mark KellyKen Griffin isn’t giving up on his fight to improve the Internal Revenue Service’s privacy protections, and all American taxpayers could benefit if the Citadel CEO wins. Late last week Mr. Griffin filed an amended version of his lawsuit against the tax agency for the “unlawful disclosure” of his confidential tax information. The hedge fund operator is one of the thousands of wealthy Americans whose private tax data was stolen from the IRS, then leaked and published by the left-leaning ProPublica website.

Persons: Mike Johnson's, Mark Kelly Ken Griffin isn’t, Griffin Organizations: Citadel

☆ Asia markets gain ahead of manufacturing data, Fed decision
▼ + stars: | 2023-11-01 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: 1 min

Asia-Pacific markets opened higher ahead of a policy decision from the U.S. Federal Reserve, as investors monitored a slew of manufacturing data. The Fed will conclude its two-day monetary policy meeting later in the day, with markets expecting the central bank to stand pat on interest rates. Purchasing managers' index data for October is expected from major economies including China, India and South Korea.

Organizations: U.S . Federal Reserve Locations: Asia, Pacific, China, India, South Korea

Summer Science Program, a nonprofit with an annual budget of about $2 million, sent about 200 high school juniors to six-week intensive research courses at universities this year. Summer Science Program learned last year that one of its alumni, Franklin Antonio, a co-founder of chipmaker Qualcomm, had granted the organization 20% of his estate, said CEO Frank Steslow. The program intends to double the number of students enrolled next summer to more than 400 and increased its annual budget to over $7 million. Summer Science Program has already received a first payment of $65 million, and the funds are unrestricted. But he added, “it seems unusual at first until you realize that the organization itself is almost like a gift restriction, because they’re very specific in what they do,” referring to Summer Science Program.

Persons: Franklin Antonio, Frank Steslow, ” Steslow, Antonio, Steslow, MacKenzie Scott, Jeff Bezos, Scott, Gabrielle Fitzgerald, Fitzgerald, Russell James, ” James, James, Joan B Organizations: Science, Science Program, Qualcomm, Indiana University ,, Indiana University , Bloomington , New Mexico State University, Las, University of Colorado, Panorama, Global's, Texas Tech University, Salvation Army, National Public, Lilly Endowment Inc, AP Locations: Indiana University , Bloomington , New, Las Cruces, University of Colorado Boulder

☆ Asia markets mixed ahead of Bank of Japan decision, China PMI
▼ + stars: | 2023-10-31 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: 1 min

The Bank of Japan headquarters in Tokyo. Asia-Pacific markets were mixed ahead of a key monetary policy decision by the Bank of Japan, and fresh economic data points throughout the region. The Bank of Japan will conclude its two-day policy meeting later in the day, with investors watching for any signs of the central bank raising its inflation forecasts. It is also expected to discuss further adjustments to its bond yield control. Also on Tuesday, China purchasing manager's index data for October will likely show manufacturing grew at an expansionary pace of 50.2, according to economists polled by Reuters.

Organizations: Bank of Japan, Reuters Locations: Tokyo . Asia, Pacific, China

☆ Oil rises ahead of key central bank meetings amid heightened Mideast tensions
▼ + stars: | 2023-10-31 | by ( ) www.cnbc.com time to read: +1 min

Oil prices rose in early Asian trade on Tuesday ahead of global central bank meetings and as tensions in the Middle East remained high. Israeli troops and tanks attacked Gaza's main northern city from the east and west on Monday, three days after it began ground operations in the Palestinian enclave. Traders were also keeping a close eye on global monetary policy, with rate-setting meetings of major central banks scheduled for this week. The U.S. Federal Reserve will meet on Wednesday and the Bank of England on Thursday to discuss monetary policy and decide on potential future inflation-busting interest rate hikes. Investors are also expecting Chinese purchasing managers index data and third quarter gross domestic products figures from Hong Kong and Taiwan.

Organizations: Brent, West Texas, Traders, Bank of Japan, Nikkei, U.S . Federal Reserve, Bank of England, Investors Locations: Gaza, Israel, Hong Kong, Taiwan

☆ Tesla shares drop 5% on Panasonic battery warning, down 18% since Q3 earnings report
▼ + stars: | 2023-10-30 | by ( Lora Kolodny | ) www.cnbc.com time to read: +3 min

Musk also repeatedly said, during that call, that Tesla was facing serious challenges with the start of production of its long-awaited Cybertruck. Shares have dropped about 18% since the company's earnings call Oct. 18. We believe that Tesla may have to guide to deliveries below consensus next year AND face lower margins." Bernstein, with its bearish view of Tesla, is forecasting 2.15 million deliveries from Tesla next year with earnings per share of $2.59 compared to the consensus view of 2.3 million deliveries and earnings per share of $3.30. Shares of ON Semiconductor , which supplies chips for EVs, were down 20% Monday after the company offered disappointing Q4 guidance.

Persons: Elon Musk, Porte, Tesla, Musk, It's, Bernstein's Toni Sacconaghi, Bernstein, Sacconaghi Organizations: SpaceX, Tesla, Viva Technology, Porte de, Panasonic, U.S, Cybertruck, ON Semiconductor, CNBC Locations: Paris, Japan, Ortex, London

People walk in front of the bank of Japan building in Tokyo, Japan, April 7, 2023. REUTERS/Androniki Christodoulou/ File photo Acquire Licensing RightsOct 31 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. Will the BOJ spook markets on Halloween and the final trading day of the month by effectively tightening monetary policy further with another tweak to its 'yield curve control' policy? Inflation in Japan has finally taken off, and for the first time in decades, appears to be sticking well above 2%. Here are key developments that could provide more direction to markets on Tuesday:- Bank of Japan policy decision- China PMIs (October)- Japan unemployment, industrial production, retail sales (September)By Jamie McGeever;Our Standards: The Thomson Reuters Trust Principles.

Persons: Androniki, Jamie McGeever, Will, Government Bonds, China PMIs Organizations: REUTERS, Bank of, U.S . Federal, Bank of England, Nikkei, Japan, Government, PMI, Bank of Japan, Thomson, Reuters Locations: Japan, Tokyo, Hong Kong, Taiwan, China

☆ Achieving the 'American dream?' A lot of it depends on where you grow up
▼ + stars: | 2023-10-27 | by ( Hakyung Kim | ) www.cnbc.com time to read: +7 min

We are thought to be the country of the American dream, [where] once you start from the bottom, you move to the top. Measures of mobilityThere are two measures of mobility: relative and absolute. "We have less [relative] mobility in this country than we do in other developed nations, especially in Europe and developing European countries. "We are thought to be the country of the American dream, [where] once you start from the bottom, you move to the top. The U.S. only ranks behind England for having the world's highest university tuition fees, according to data from the OECD.

Persons: Friedman, John Friedman, that's, It's, haven't, Kreg Steven Brown, Brown, Juan Palomino, there's, Susan Thompson Buffett Organizations: Opportunity, Brown University, Harvard University, . Census Bureau, World Bank, U.S, Washington Center for Equitable, Universidad Complutense de Madrid, England, OECD, Susan Thompson Buffett Foundation, Biden Locations: Dallas, Texas, U.S, Europe, Denmark, China, South Africa, Morocco, American, Germany, Canada, Japan, France, Scandinavian, Nebraska

☆ Kids are attending pro-Palestine protests on Roblox
▼ + stars: | 2023-10-26 | by ( Hayden Field | ) www.cnbc.com time to read: +2 min

Kids are attending pro-Palestine protests on Roblox in the wake of the Israel-Hamas war, and so far, a pro-Palestine virtual protest has been visited more than 275,000 times. Malaysia has been the site of pro-Palestine protests, and the country's prime minister, Anwar Ibrahim, recently criticized Israel's air strikes in the Gaza Strip. About 45% of Roblox users are 12 years old or younger, according to Roblox data from December 2022, and 60% of users were 16 or younger. Social media comments viewed by CNBC seemed to show parents saying that their daughters and sons had joined, or planned on joining, the experience on Roblox. A Roblox spokesperson confirmed to CNBC that the experience "did appear on our platform," adding that the protest showcased in viral videos was one of multiple pro-Palestine protests on Roblox that the company is aware of.

Persons: Anwar Ibrahim, Roblox Organizations: Palestine, Solidarity, Google Translate, CNBC, Palestinian, Israeli Defense Forces, West Bank Locations: Israel, Palestine, Malaysia, Gaza, Malaysian, Palestinian

☆ Kids are attending pro-Palestinian protests on Roblox
▼ + stars: | 2023-10-26 | by ( Hayden Field | ) www.cnbc.com time to read: +3 min

Kids are attending pro-Palestinian protests on Roblox in the wake of the Israel-Hamas war, and so far, a pro-Palestinian virtual protest has been visited more than 275,000 times. Malaysia has been the site of pro-Palestinian protests, and the country's prime minister, Anwar Ibrahim, recently criticized Israel's air strikes in the Gaza Strip. About 45% of Roblox users are 12 years old or younger, according to Roblox data from December 2022, and 60% of users were 16 or younger. A Roblox spokesperson confirmed to CNBC that the experience "did appear on our platform," adding that the protest showcased in viral videos was one of multiple pro-Palestinian protests on Roblox that the company is aware of. Clarification: Pro-Palestinian supporters have taken to Roblox to protest the Israel-Hamas war.

Persons: Anwar Ibrahim, Roblox Organizations: Solidarity, Google Translate, CNBC, Palestinian, Israeli Defense Forces, West Bank Locations: Israel, Palestine, Malaysia, Gaza, Malaysian, Palestinian, Roblox

European markets were tentatively lower Tuesday, with investors likely keeping an eye on the latest business activity data out of the euro zone. The pan-European Stoxx 600 index dipped 0.1% lower after a marginally upbeat open, with sectors spread across positive and negative territory. Mining stocks led gains with a 1% increase, while banking stocks dropped 0.9%. Barclays led the banking decline with a 6% fall following third-quarter results. Preliminary purchasing managers' index data for the euro zone for October is due Tuesday.

Organizations: Barclays

☆ Most of the world's biggest advertisers have stopped buying ads on Elon Musk's X, exclusive new data shows
▼ + stars: | 2023-10-23 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +4 min

An overwhelming majority of the world's biggest-spending advertisers have stopped advertising on X following Elon Musk's acquisition of the company, according to new data provided exclusively to Insider by the marketing consultancy Ebiquity. The number of Ebiquity clients advertising on X has steadily declined ever since, the data shows. The company drew its X data from its digital media solutions unit, through which it gathers digital media investment data from agencies and platforms. In the same interview she cited Visa, Nissan, and AT&T as among the "1,500" brands that had resumed spending on X. "We would welcome an official follow-up with supporting data in a time where trust and transparency are of critical importance," said Schreurs.

Persons: Ruben Schreurs, Ebiquity Ebiquity, Linda Yaccarino, Ebiquity's Schreurs, Schreurs Organizations: Elon, Twitter, Google, Walmart, Vodafone, General Motors, Ebiquity, Nissan, Amazon, Unilever, Coca, IBM, Bloomberg, Media, Visa

REUTERS/Issei Kato Acquire Licensing RightsOct 24 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. September's PMIs showed that manufacturing activity in Japan and Australia shrank and services sector activity grew, although growth in Japan was the slowest this year. The big picture, however, is still dominated by the ebb and flow of the U.S. Treasuries market. And while a broad easing of financial conditions on Monday - lower Treasury yields and a weaker dollar - should support emerging market assets, Wall Street's late downward drift will warrant caution. The MSCI Asia ex-Japan and MSCI global emerging market indexes are both down around 13% over the past three months and on Monday both hit their lowest level since Nov. 11 last year.

Persons: Issei Kato, Jamie McGeever, bode, Michele Bullock, September's PMIs, Wall, Goldman Sachs, outflows, Goldman, Josie Kao Organizations: REUTERS, Reserve Bank of Australia, Nasdaq, Bank of Japan, PMI, Thomson, Reuters Locations: Tokyo, Japan, U.S, Korean, Australia, Asia, China, South Korea

AI (Artificial Intelligence) letters are placed on computer motherboard in this illustration taken June 23, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsOct 19 - Artificial Intelligence startup Imbue said on Thursday it has secured an additional $12 million in follow-on funding to its Series B round, bringing its total raised to over $210 million in cash. In September, Imbue announced its Series B round of $200 million at a valuation of over $1 billion. Imbue is focused on creating a model for enabling so-called autonomous agents, AI systems which promise to perform more sophisticated personal and work tasks such as meeting scheduling or complex data analysis, without close supervision. The key to AI systems that can perform large-scale, real-world tasks is creating AI that has better reasoning capabilities, Imbue CEO Kanjun Qiu said in an interview.

Persons: Dado Ruvic, Eric Schmidt, Imbue, Kanjun Qiu, Qiu, Anna Tong, Richard Chang Organizations: REUTERS, Intelligence, Alexa Fund, Google, Microsoft, Thomson Locations: San Francisco

☆ Series I bond rates could rise above 5% in November, experts say
▼ + stars: | 2023-10-13 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

The annual rate for newly purchased Series I bonds could rise above 5% in November based on inflation and other factors, financial experts say. (The fixed portion of the I bond rate remains the same for investors after purchase. The variable rate portion resets every six months starting on the investor's I bond purchase date, not when the Treasury Department announces rate adjustments. Based on six months of consumer price index data, experts say the variable component is likely to rise to 3.94% in November, up from the current variable rate of 3.38%. That variable rate will change again in May 2024.

Persons: doesn't Organizations: U.S ., Finance, U.S . Department of, Treasury, Treasury Department

The latest Freddie Mac data, which reflects average rates from last Thursday through Wednesday, showed that 30-year mortgage rates reached a new 23-year high of 7.57%. See more mortgage rates on Zillow Real Estate on ZillowMortgage Refinance Rates TodayMortgage type Average rate today This information has been provided by Zillow. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's interest rates will affect your monthly payments. 15-Year Fixed Mortgage RatesAverage 15-year mortgage rates were 6.89% last week, according to Freddie Mac data. Mortgage rates increased dramatically in 2022 and have been volatile so far in 2023, but they're expected to trend down later this year.

Persons: Freddie Mac, you'll Organizations: of Labor Statistics, Reserve, Hamas, Zillow, Federal Reserve Locations: Chevron

Insider spoke with startup founders and VCs who are managing companies while aiding the war effort. Startup founders and employees have traveled back to Israel from their homes abroad to take up arms and defend their country. The call to serveIn Israel, military service is mandatory for all citizens over 18. These startup founders and employees are using the skills they use every day like problem solving, multitasking and leading during the war effort. "I'm lucky to be a cofounder not a sole founder, so I'm relying on my cofounder," Kandel explained.

Persons: Israel, VCs, —, Oren Kandel, I'm, We're, Munch, Kandel, Isaac Gili, Jon Medved, David, Noy, Danielle Eisenberg, Leyb, Eisenberg, I've, Medved, Oren Kandel Kandel, that's, Ben Yellin, Ofer Sharon, Itamar Friedman, " Eisenberg, Tasmin Lockwood Organizations: Palestinian, Hamas, Service, Wednesday, Israeli Defense Forces, Startup, Israel Relief, Microsoft, Israel, Tel, Lightspeed Venture Partners, GGV, Insight Partners Locations: Gaza, Israel, Gedera, New York, cyberintelligence, Tel Aviv, Binyamina

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