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☆ Recession obsession, AI boom and wild markets: What Wall Street can expect for the rest of 2023
▼ + stars: | 2023-06-22 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +9 min

So what does the rest of the year have in store for Wall Street? Unfortunately, Wall Street is unlikely to receive the clarity it seeks anytime soon. Still, economists at the Federal Reserve believe that a recession seems more likely by the end of 2023 than not. AI boom: Wall Street has a lot to worry about, but there’s at least one source of market euphoria: artificial intelligence. Satisfying your sweet tooth is about to get more expensiveIf you have a sweet tooth, take note: Cocoa prices have been soaring — and that could drive chocolate prices higher.

Persons: it’s, Rachel, Ross, Mulder, Scully, Sam, Diane, Vladimir, Estragon, Samuel Beckett’s, ”, Michael Arone, Matthew Bartolini, Darrell Cronk, “, Arif Husain, Rowe Price, Wells, Justin Thomson, Liz Ann Sonders, Charles Schwab, Samantha Delouya, It’s, Danielle Wiener, Bronner, El, Paul Organizations: CNN Business, Bell, New York CNN, Investors, State, Federal Reserve, JPMorgan, Wells, Investment Institute, Silicon Valley Bank, Signature Bank, First, State Street, JPMorgan Chase, ”, “, OceanGate Expeditions, Federal Aviation Administration, Virgin Galactic, SpaceX, Rabobank Locations: New York, Silicon, First Republic, Washington, Europe, Asia, United States, China

☆ Bank of England poised to raise rates after inflation shock
▼ + stars: | 2023-06-21 | by ( David Milliken | ) www.reuters.com time to read: +4 min

Economists polled by Reuters last week were unanimous that the BoE would raise rates to 4.75%, their highest since 2008, from 4.5%. But after inflation held at 8.7% in May, financial markets priced in a nearly 50% chance that the BoE would opt for a bigger move and raise rates by half a percentage point. "The UK has a uniquely bad inflation problem," Krishna Guha, a vice chairman at U.S. investment banking advisory firm Evercore, said. Core inflation - which strips out more volatile prices to show an underlying trend - rose to a 31-year high in May. "Unfortunately, the Bank of England is in a situation where they will have to hike until something breaks," he said.

Persons: BoE, Tomasz Wieladek, Rowe Price, Krishna Guha, Evercore, Rishi Sunak, Andrew Bailey, Megan Greene, Wieladek, David Milliken, Kirsten Donovan Organizations: Bank of England, Reuters, U.S . Federal, European Central Bank, Sky News, MPC, Nomura, Thomson Locations: Ukraine, United States

☆ Too far, too fast: Wall Street sees Tesla and these other shares declining in the next 12 months
▼ + stars: | 2023-06-20 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

The surge in Tesla stock comes despite concern over the company's new strategy , which prioritizes mass vehicle production over profit margin growth. Analysts are growing more weary of the electric vehicle giant, however, as only 39% of analysts polled by FactSet rate the stock a buy. Meanwhile, average analyst price targets imply a nearly 23% decline in Tesla's stock price from current trading levels. TSLA YTD mountain Tesla stock has surged more than 115% so far this year. TROW YTD mountain None of the analysts polled by FactSet rate T. Rowe Price stock as a buy.

Persons: Stocks, Tesla, Rowe Price, TROW Organizations: Nasdaq, Dow Jones, Wall, Tesla, Intel, CNBC Locations: Germany, Baltimore

The sources cautioned that no deal is certain and asked not to be identified because the matter is confidential. Spokespeople for nCino did not immediately respond to requests for comment, while Insight Partners declined to comment. Shares of nCino ended trading in New York on Friday up 24% at $31.69 on the news, giving the company a market value of about $3.6 billion. Based in Wilmington, North Carolina, nCino offers cloud-based software to banks and financial institutions that helps digitize their processes, including around lending and deposit-taking. The company subsequently attracted several venture capital investors beyond Insight Partners, including Wellington Management, Salesforce Ventures, Bessemer Partners and T. Rowe Price.

Persons: nCino's, nCino, Rowe Price, Milana Vinn, David French, Daniel Wallis, Jonathan Oatis Organizations: nCino, Insight Partners, Wellington Management, Salesforce Ventures, Bessemer Partners, Thomson Locations: New York, Wilmington , North Carolina, North Carolina

The Fed is scheduled to release its policy statement and new quarterly economic projections at 2 p.m. EDT (1800 GMT). POLICY COMPROMISEData since the last Fed meeting in early May has left policymakers with a tough set of signals to read, and ample room for debate. The decision won't mean rate hikes are in for an extended pause, or - a point Powell is likely to emphasize - that rate cuts are anticipated anytime soon. The Fed's last set of quarterly projections anticipated the benchmark overnight interest rate would only move down by the end of 2024 as inflation also declined - movements that keep the inflation-adjusted rate of interest roughly the same. A true "pivot" towards looser policy was only seen occurring in 2025, when the policy rate was projected by year's end to decline more than inflation.

Persons: Blerina Uruci, Rowe Price, Jerome Powell, Powell, Howard Schneider, Paul Simao Organizations: Federal, Reuters Graphics Reuters, Rowe Price Associates, Fed, Thomson Locations: U.S

☆ Private equity risks gorging on its secret sauce
▼ + stars: | 2023-06-14 | by ( Liam Proud | ) www.reuters.com time to read: +7 min

Investors prefer pedestrian but steady management fees over the lumpy share of fund profit that is the industry’s special sauce. Private equity firms with a public listing funnel some of the carry to employees and some to shareholders. TPG (TPG.O) last year went public with a similar strategy of paying around two-thirds of performance-related revenue to employees. Assuming the general idea is to keep overall earnings steady, then higher fee-based income for shareholders must be matched by lower cash compensation for employees. It suggests that for KKR, TPG and the rest, there is a limit to just how much of their own secret sauce employees can eat.

Persons: Steve Schwarzman, Carlyle, Blackstone’s, Schwarzman, Henry Kravis, George Roberts, EQT, Blackstone, Harvey Schwartz, Rowe Price, Thoma Bravo, Jeffrey Goldfarb, Sharon Lam, Oliver Taslic Organizations: Reuters, Blackstone, KKR, Apollo Global Management, JPMorgan, Reuters Graphics, TPG, Apollo, Reuters Graphics Reuters, Alpha, Bain Capital, Thoma, Ares Management, Thomson Locations: BlackRock

☆ Wall Street Week Ahead: Investors rethink recession plays, boosting U.S. stock market laggards
▼ + stars: | 2023-06-09 | by ( David Randall | ) www.reuters.com time to read: +5 min

"There's reason to believe that the pessimism we saw at the start of the year is giving way to a stronger-than-expected market." Murray has increased his allocation to small-cap stocks, which tend to be among the most direct beneficiaries of economic growth. Other rebounding segments in June include the S&P 500 energy sector, which has gained 6% this month and S&P 500 industrials, up 5.7%. Ten of the 11 S&P 500 sectors are firmer for the month to date, compared to only six for the year. Stronger-than-expected jobs growth and robust consumer spending have been among the data points that have bolstered investors' economic outlook.

Persons: Tim Murray, T Rowe Price's, Murray, Russell, Dow, Howard Silverblatt, Goldman Sachs, Saira Malik, Max Wasserman, David Randall, Saqib Iqbal Ahmed, Lewis Krauskopf, Ira Iosebashvili, Richard Chang Organizations: YORK, Energy, Reuters, Apple Inc, Microsoft Corp, Inc, Amazon.com Inc, Nvidia Corp, Tesla Inc, Dow Jones, Capital Economics, Miramar Capital, Starbucks Corp, Target Corp, Thomson Locations: U.S

With the IPO still some way off, Ola is embarking on investor meetings earlier than usual to explain the business potential of India's nascent EV market. Aggarwal plans to meet investors, including BlackRock (BLK.N), Singapore's sovereign wealth fund GIC, and mutual funds such as T Rowe Price (TROW.O), the first source said. Ola Electric declined to comment. Ola Electric is likely to file regulatory papers on the IPO for approval by August, the two sources said. Ola competes with other startups and bigger companies like TVS Motors (TVSM.NS), Ather Energy and Hero Electric, which are ramping up their EV scooter plans.

Persons: Ola, Bhavish Aggarwal, Rowe Price, Bhavish, Ola Electric, T Rowe Price, Goldman Sachs, Sriram, Scott Murdoch, Aditya Kalra, Jane Merriman Organizations: Blackrock, Bank of America, Temasek, BlackRock, Reuters, TVS Motors, Ather Energy, Hero, EV, Citi, ICICI Securities, Thomson Locations: Singapore, UK, U.S, GIC, MUMBAI, United States, United Kingdom, India

☆ How much should you have saved for retirement at your age? It’s complicated
▼ + stars: | 2023-06-05 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +6 min

Please keep that in mind, especially if you’re discouraged your savings don’t currently match the recommended targets for your age. A very ballpark estimateOne of the more flexible age-based retirement savings benchmarks comes from mutual fund company and 401(k) record keeper T. Rowe Price. Among their assumptions, they presumed your retirement savings are in tax-deferred accounts like a 401(k), which means you will owe income tax on your withdrawals in retirement. But here’s the thing …Many Americans’ savings likely fall at or below the lowest end of the recommended savings range for their age. Or you may plan to work past age 65, which will give your savings more time to compound.

Persons: New York CNN —, you’re, Rowe Price, ”, Ann Minnium, ” Minnium, “, Roger Young Organizations: New, New York CNN, Research Locations: New York, United States, New Jersey

☆ The Lifelong Gift of Sibling Friendship
▼ + stars: | 2023-06-05 | by ( Catherine Pearson | ) www.nytimes.com time to read: +1 min

Sisters Audrey Findlay, 75, and Barbara Rowe, 63, start every weekday with an 8 a.m. phone call. An hour or so later, they head to work together at Findlay Rowe, the gift shop they opened 12 years ago. (Previously, they worked at the same health care company for 13 years, where Ms. Findlay was the general manager and Ms. Rowe was the payroll manager.) At 5 or 6 p.m., the sisters leave work and head to their homes — four houses apart. The sisters do have their arguments, as would be expected from two people who frequently spend the bulk of their days together.

Persons: Audrey Findlay, Barbara Rowe, Findlay Rowe, Findlay, Rowe, Ms

☆ Too far, too fast: These stocks may be due for a pullback after exceeding analyst price targets
▼ + stars: | 2023-05-29 | by ( Sarah Min | ) www.cnbc.com time to read: +1 min

Investors beware — a number of stocks have overshot analysts' price targets, and could be due for a pullback, according to CNBC Pro. Our screen found S & P 500 stocks with an implied downside of at least 3% after the shares exceeded their average price targets, according to FactSet data. In fact, Citi analyst Christopher Allen initiated coverage of the investment management firm this week with a sell rating, saying there's 9% downside, according to StreetAccount. Slightly more than half, or 57%, of analysts have a buy rating on the stock. Meanwhile, Lam Research also made the list, with just half of analysts recommending investors buy the semiconductor equipment maker.

☆ Stocks making the biggest moves premarket: Marvell Technology, Gap, RH and more
▼ + stars: | 2023-05-26 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

Marvell Technology — Marvell Technology surged 17% in premarket trading after reporting a top-and-bottom beat in its first quarter. The financial management software firm also named a new chief financial officer, Zane Rowe, and raised the low end of its full-year subscription revenue guidance. Deckers Outdoor — Deckers Outdoor fell 2% in premarket trading. RH — Shares of the retailer fell more than 3% in premarket trading despite RH beating estimates for its fiscal first quarter in a Thursday evening report. It very slightly raised full-year revenue guidance and reaffirmed earnings per share guidance.

Persons: Marvell, Refinitiv, Zane Rowe, RH's, Macheel, Jesse Pound Organizations: Marvell Technology, Marvell, Autodesk, —

☆ Stocks making the biggest moves midday: Ford, Marvell Technology, Paramount, Gap and more
▼ + stars: | 2023-05-26 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

Tesla 's stock gained 4.72%. Marvell Technology — The semiconductor stock soared 32.42% after the company's earnings beat analyst expectations. Despite reporting an earnings and revenue beat, shares fell on the company's reduced operating margin outlook for the full year. Paramount — Shares of the media company gained 5.89% after National Amusements, Paramount's majority voting shareholder, announced a $125 million preferred equity investment by BDT Capital Partners. Workday also raised the low end of its full-year subscription revenue guidance and named a new chief financial officer, Zane Rowe.

☆ VMware employees are increasingly concerned over Broadcom's pending $61 billion acquisition, predicting spinouts of business units, layoffs, and lost customers
▼ + stars: | 2023-05-26 | by ( Rosalie Chan | ) www.businessinsider.com time to read: +14 min

Broadcom and VMware announced the $61 billion deal last year and recently pushed back the deadline as it undergoes regulatory scrutiny. Insider spoke with one former and four current VMware employees about the changes they expect to face once they are owned by the chipmaker Broadcom. A VMware spokesperson said in a statement that after the deal closes, VMware customers will obtain "more choice and flexibility" in managing their IT needs, especially across multiple cloud-computing services. Executives leaving VMwareVMware has lost several key executives since the Broadcom deal was announced (including several defecting to VMware's archrival Nutanix). "Nonetheless, I've continued to see questions in press reports about whether we intend to raise prices on VMware products.

Persons: —, Sanjay Poonen, Patrick Morley, haven't, Robert Ruelas, EUC, Kit Colbert, hasn't, Zane Rowe, Tom Gillis, Mark Lohmeyer, Ajay Patel, Kal, Karen Egan, Tom Kellermann, Raghu Raghuram, Hock Tan, Colbert, Tan, Hock E, Lucas Jackson, I've Organizations: VMware, Employees, Broadcom, SEC, Carbon, Symantec, Workers, Tech, VMware hasn't, VMware Employees, VMware VMware, Nutanix, Raghuram, Reuters

☆ Stocks making the biggest moves after hours: Gap, Marvell Technology, RH, Ulta and more
▼ + stars: | 2023-05-25 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Gap — Shares surged 15% in the postmarket following the retailer's earnings report, which showed a major improvement in margins. Revenue was a hair below expectations, coming in at $3.28 billion, while analysts polled by Refinitiv anticipated $3.29 billion. Marvell Technology — Shares jumped 14% in post-bell trading after the semiconductor producer beat analysts' expectations for its first quarter. RH — Luxury retailer RH slipped 3% after hours as weak guidance for the current quarter pulled attention from strong first-quarter earnings. Still, RH beat expectations on revenue in the first quarter, posting $739 million compared with analysts' forecast of $727 million.

Persons: Refinitiv, Ulta, Zane Rowe, Marvell, Darla Mercado Organizations: Revenue, Costco, Refinitiv, VMware, Marvell Technology —, —

☆ Asian shares muted, US debt ceiling talks weigh on risk appetite
▼ + stars: | 2023-05-17 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

SINGAPORE, May 17 (Reuters) - Asian shares were subdued on Wednesday and the dollar hovered around a five-week peak as investors remained risk averse, with the U.S. debt ceiling talks and a mixed set of economic data weighing on sentiment. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was down 0.09% in choppy trading, with Australia's S&P/ASX 200 index (.AXJO) down 0.45%. Democratic President Joe Biden and top congressional Republican Kevin McCarthy edged closer to a deal to avoid a looming U.S. debt default Tuesday. After an hour of talks, McCarthy, the speaker of the House of Representatives, told reporters the two sides remained far apart on an agreement to lift the debt ceiling. Against a basket of currencies, the dollar rose 0.01% to 102.61, inching closer to the five-week high of 102.75 it touched on Monday.

☆ Arrowstreet, Coatue Management among big hedge funds buying Meta in first quarter
▼ + stars: | 2023-05-15 | by ( David Randall | ) www.reuters.com time to read: +1 min

NEW YORK, May 15 (Reuters) - Prominent hedge funds including Arrowstreet Capital LLC, D1 Capital Partners and Coatue Management LLC were among the investors that bought shares of Meta Platforms Inc in the first quarter of the year, amid an eye-popping rebound in the Facebook-parent’s stock. Arrowstreet Capital added about 5 million shares during the quarter, brining its total position to slightly more than 7 million shares, while Coatue more than doubled its position in the company by buying 4.2 million shares. Winslow Capital Management, meanwhile, initiated a new position in the firm by buying about 927,000 shares, and D1 Capital Partners bought slightly more than 1 million shares. Norges Bank, the central bank of Norway, was the largest seller among all firms, unloading more than 35 million shares during the quarter. Two Sigma Investments sold its entire stake of about 569,000 shares, while Glenview Capital Management, run by billionaire Larry Robbins, sold its entire stake of about 526,000 shares, according to filings.

☆ The bull and bear case for stocks, according to T. Rowe Price's Page and BMO's Belski
▼ + stars: | 2023-05-15 | 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 EmailThe bull and bear case for stocks, according to T. Rowe Price's Page and BMO's BelskiT. Rowe Price’s Sebastien Page and BMO’s Brian Belski, joins 'Closing Bell' to offer the bull vs. bear case for where stocks go from here.

☆ Wall St Week Ahead Amid banking woes, faltering US small-caps offer ominous economic sign
▼ + stars: | 2023-05-14 | by ( Lewis Krauskopf | ) www.reuters.com time to read: +5 min

NEW YORK, May 12 (Reuters) - A U.S. stocks rally is leaving behind smaller companies, a sign that investors may be bracing for economic turmoil ahead. "Typically in a recession, small caps underperform." Last month it downgraded its view on U.S. small caps from "unfavorable" to "most unfavorable." Some investors are more upbeat about the outlook for small caps, particularly when looking beyond the next several months. One reason is that small caps, being sensitive to economic fluctuations, tend to shine early in a market recovery.

☆ Retiring soon? Here's how to invest in a choppy market, according to the pros
▼ + stars: | 2023-05-09 | by ( Weizhen Tan | ) www.cnbc.com time to read: +5 min

So how should one invest, bearing in mind a shorter investing horizon for retirees and their need to have some savings? Go for short-term bonds Short-duration Treasurys still offer attractive yields, according to Austin Graff, chief investment officer at Opal Invest. Investors flocked to short-term Treasurys late last year amid higher rates, and yields jumped. "The idea of allocation a third of the investors' portfolio in equity is to benefit from higher capital growth." These types of investments can also provide those same benefits throughout the long-term retirement time horizon," she said.

☆ Morning Bid: Volatile news, not markets
▼ + stars: | 2023-05-02 | by ( ) www.reuters.com time to read: +5 min

While the Federal Reserve is almost certain to raise interest rates again on Wednesday, the move could be its last. So in a holiday-strewn month around the world, the VIX (.VIX) - Wall St's so-called 'fear gauge' of the implied stock market volatility for the month ahead - hit its lowest level on Monday since November 2021. Even though it ticked back up a bit above 16 overnight, it remains three full points below its 33-year historical average. For macro markets, the Fed decision is complicated by the debt ceiling and banking backdrop. March job openings numbers later on Tuesday will give an indication of just how tight the labor market remains.

☆ A solid start to earnings season will be put to the test in the week ahead
▼ + stars: | 2023-04-29 | by ( Zev Fima | ) www.cnbc.com time to read: +14 min

The biggest week of this earnings season showed us that things aren't as bad as many feared. The week ahead of earnings, including several more Club names, should tell us more. The results are always important, but it's the guidance and management commentary we will really hone in on to better understand the path ahead. In Amazon's case, a solid first quarter for its AWS cloud business was overshadowed by management seeing a material slowdown in April. ET: Nonfarm Payrolls Looking back It was the biggest week of this earnings season for the Club as several of our mega-cap holdings and industry bellwethers reported results.

☆ Asian stocks ease, dollar subdued as investors tread with caution
▼ + stars: | 2023-04-20 | by ( Ankur Banerjee | ) www.reuters.com time to read: +3 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was 0.16% lower, while Japan's Nikkei (.N225) was up 0.07%. China's blue-chip CSI 300 Index (.CSI300) was down 0.16%, while the Shanghai Composite Index (.SSEC) eased 0.22%. Traders are bracing for meetings from central banks in the next few weeks as easing worries over the banking sector brings inflation and monetary policy back into focus. In currency markets, the U.S. dollar index fell 0.039%, with the euro up 0.04% to $1.0958. The yen weakened 0.08% to 134.83 per dollar, while sterling was last trading at $1.2432, down 0.05% on the day.

Some are turning to startups who are pivoting to using powerful chips to run quantum-inspired software on regular computers as they bide their time. In the past 18 months, quantum software startups including SandBoxAQ - an Alphabet spinoff - raised about $1 billion, according to data firm PitchBook. Ultimately, the software inspired by quantum physics won't perform well on quantum computers without some changes, said William Hurley, boss of Austin-based quantum software startup Strangeworks. Still, he said companies that start using them will have engineers "learning about quantum and the phenomenon and the process, which will better prepare them to use quantum computers at the point that they do so." Strangeworks, which also operates a cloud with over 60 quantum computers on it, raised $24 million last month from investors including IBM (IBM.N).

WASHINGTON, April 14 (Reuters) - A committee of Sri Lanka's international private creditors sent its first debt rework proposal to the country's authorities regarding more than $12 billion in bonds outstanding, according to three sources with direct knowledge of the matter. It is the first bondholder proposal after the island nation of 22 million people defaulted on its debt a year ago. A spokesperson representing the creditor committee declined to comment. Bondholders and government officials met in Washington this week, with legal and financial advisers for both sides present, two sources said. China, Sri Lanka's biggest bilateral creditor, did not join the announcement even though it holds the key to solving debt woes for some low- and middle-income countries.

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