Podcasts about on wall street

What does investing like Warren Buffett look like now that the Oracle of Omaha has retired? Michelle Martin follows the money at Berkshire Hathaway as the Greg Abel era takes shape, with fresh bets on US housing and a bigger position in Alphabet. What might Berkshire be seeing in a difficult housing market, and is its growing appetite for tech really such a departure from the Buffett playbook? In China, Goldman Sachs is looking beyond the usual AI names to companies supplying the hardware behind the boom. Could printed circuit boards, data centres and robotics components offer another way into the AI trade - and how much should investors factor in geopolitics? On Wall Street, Home Depot, Target, Lowe’s and Walmart put the American consumer under the microscope, while minutes from the Federal Reserve’s divided July meeting could offer clues on where rates go next. Plus, Michelle goes Up or Down on Stripe’s US$7 billion OpenRouter deal, WuXi AppTec after its huge rally and Alibaba as Qwen passes three billion downloads. And why are Chinese consumers more optimistic about AI than Americans? Where might Singapore sit? Finally, Spider-Man crosses US$2 billion as Hollywood rediscovers the power of the big-screen blockbuster. Hosted by Michelle Martin.See omnystudio.com/listener for privacy information.

Shutterstock Track 1219389 Monetization ID TFGEPGEI0LHEIJAI Kia ora. Welcome to Monday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from interest.co.nz. Today we lead with news the Hormuz Strait is effectively shut again with Iran's 'strategy' winning against the US 'firepower'. It is hard to think of any other politician trashing their advantage perceptions so completely. There will be long historical echoes from all this ineffective breast-beating. But elsewhere and locally, this week will bring updates to our migration and travel data, indicators of June retail activity, and early signals of June inflation. We will also get an look at business sentiment, and likely get the June REINZ update. In Australia, they will chime in with their June labour market updates, after updates for consumer and business sentiment. In the US, apart from Trump's wars, investors will turn their attention to the Q2 earnings season, and a steady stream on important economic data that includes their CPI, retail sales and consumer sentiment updates. Fed boss Warsh will be briefing Congress and that will be interesting too, especially about his views on 'reform'. Canada will be reviewing their central bank's policy rate this week, although no change from the 2.25% is anticipated In Japan, it will be about machinery orders and industrial production with eyes also firmly focused on their currency - which will also impact their fast-rising interest rates. In China, it will be a busy week of June economic data releases including for trade, and debt, and highlighted by their Q2-2026 GDP growth rate. Over the weekend, in the fiercely competitive Chinese car market, they reported 2.8 mln vehicle sales in June which was somewhat unexpected because a dip from May was anticipated. But it is a -3% dip from year-ago June sales levels. That pushes their twelve month sales to 33.8 mln units, up from 33.0 mln in the prior equivalent year. Car exports rose above 1 mln units in June, the first time that level has been achieved as it floods global markets. It is storm season in China again, and severe flooding has hit a number of regions, enough to concentrate minds in Beijing. Elsewhere, China has banned the export of helium. Actually, the re-export of helium because it gets most of it from Russia. The Middle East conflict has restricted supply from there, and tech users in Europe and Asia are now in a tough spot, as are medical users everywhere. China is conserving its Russian imports for its own tech industry Japan is reporting that their producer prices rose +7.1% in June from a year ago, accelerating from an upwardly revised +6.6% increase in May and above market expectations of a +6.8% gain. It is the fastest annual increase since March 2023. Higher energy prices following supply chain disruptions linked to the war in Iran are driving this, of course. And Japan's finance minister said they want to steer their state pension funds to "substantially" increase investments in domestic assets. This brought a sharp immediate reaction in both their currency and bond markets, due to the expected size of the shift. The yen gained, or at least it halted its fall, and their bond yields fell sharply (see below). Elsewhere, in the US initial jobless claims rose by +224,500 and about what seasonal factors can account for. There are now 1.767 mln people on these benefits, less than year-ago levels. After the good May rebound, existing home sales in the US fell back to average levels, and to levels lower than a year ago. The median price is up only +1.8% from a year ago. That modest rise is less than income growth, so overall affordability is getting a chance to recover there. On Wall Street, South Korean computer chip maker SK Hynix has raised US$26.5 bln in its New York IPO, the largest ever listing by a foreign firm in the US. SK Hynix is a key supplier to AI chip giant Nvidia. In Canada, their payrolls rose a minor +18,200 in June, slightly better than the expected +10,000, and holding on to the +88,000 gain in May. The June gain was all about a strong rise in the private sector (+32,000) which consolidated the good May private sector rise (+56,000). But most of the net June gain was from part-time employment. These positive shifts in June may have something to do with hiring for the football World Cup events. Global container freight rates rose another +2% last week to be +74% higher than year-ago levels, mostly about outbound freight rates from China to the US where demand is still high. Bulk cargo freight rates pushed higher too. The UST 10yr yield is now just on 4.56%, unchanged from this time Saturday but up +7 bps for the week. The price of gold has risen to US$4119/oz, up +US$19/oz from Saturday, but down -US$55 from a week ago. Silver is now just under US$60/oz, up +50 USc from Saturday, down -US$2.50 from a week ago. Oil prices are little-changed from Saturday at just on US$71.50/bbl in the US, while the international Brent price is now just onUS$76/bbl. A week ago these prices were US$68.50 and US$72/bbl. Hormuz transits have dived sharply as the hot conflict explodes again and Iran declaring the Strait 'closed'. There have been just 12 crude or product tankers exiting over the past 24 hours and 5 of those tied to Iran (5 dark with transponders off) but only 9 entering for new loads, again mostly Iran-linked (3 dark). The Kiwi dollar is unchanged from Saturday at just over 57.6 USc, up +50 bps from a week ago. Against the Aussie we are unchanged at 82.9 AUc. Against the euro we are unchanged at just on 50.5 euro cents. That all means our TWI-5 starts today at just on 61.5 which is the same as this time Saturday, up +60 bps for the week. The bitcoin price starts today at US$64,084 and up +0.6% from this time Saturday, up +2.9% from a week ago. Volatility over the past 24 hours has been low at just under +/- 0.6%. You can get more news affecting the economy in New Zealand from interest.co.nz. Kia ora. I'm David Chaston and we'll do this again on Tuesday. Track 1219389 Monetization ID TFGEPGEI0LHEIJAI Audio soundtrack opening is licensed from Shutterstock, Track 1219389 Monetization ID TFGEPGEI0LHEIJAI

Kia ora. Welcome to Friday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. Today we lead with news investors are ignoring big (geopolitical) risks by taking even bigger new tech risks. On Wall Street, tech firms are reporting a profit gusher. Google (+81% rise in profits), Amazon (+56%) and Microsoft (+24%) delivered bonanza profit results yesterday, crediting AI for these outsized results. Meta was up too (+61%), but held back by a misfiring AI strategy that will require huge new investment. The positive results will likely boost valuations ever higher. In fact, Big Tech has committed to US$750 bln in new spending in the sector. And this impulse is a big part of driving US economic activity which expanded +2% in Q1-2026 in their initial estimate, up from a modest +0.5% gain in Q4-2025 (which was revised lower at each subsequent update). However the current result was below market expectations of +2.3% growth. The outcome was driven primarily by AI investment, but also exports, and both consumer and government spending. But their PCE inflation was reported for March at its highest in more than two years at 3.5%, with +0.7% of that coming in March alone, the steepest monthly increase since the pandemic distortions. Almost certainly April will have been higher, and probably by some margin. Personal income, before adjusting for inflation, rose +4.2% while personal spending rose +5.4%. No wonder most Americans don't feel like they are making economic progress - although Big Tech won't feel the same way. US initial jobless claims came in at 180,000 last week, a decrease and by more than seasonal factors would have indicated. But although it was expected to continue to expand, in fact the Chicago PMI slipped into contraction in April. This unexpected shift was driven by a drop in new orders and a sharper than expected rise in input costs. In Japan, retail sales (+1.7% vs expectations of +0.8% year-on-year) and industrial production data (+2.3% vs +0.4% in February) out yesterday for March were much stronger than any analyst was expecting. But it was only for March, and questions linger about their April data. Still it is better to lead into that with a good prior month. There were two factory PMI surveys out for China yesterday. The official one has it expanding marginally slower and at a quite modest rate. The unofficial S&P Global version reported a slightly stronger expansion. The official services PMI showed a slightly larger contraction after the surprise tiny March expansion. In Taiwan, they also reported GDP and it will be no surprise that it was a strong +13.7% growth, well exceeding the expected +11.3% expansion. The EU said they expect April CPI inflation to come in at 3.0%, up from +2.6% in March and all driven my higher energy costs. The ECB reviewed its monetary policy settings overnight and left its policy rate unchanged, as expected. (The English central bank did the same.) In Australia, CoreLogic said its Home Value Index rose by +0.3% in April, slowing from a +0.6% increase in March and this latest level is the weakest growth in nearly a year. But values are now falling in the nation's two largest property markets and they are easing in every other capital city. The prospect of another rate hike next Tuesday isn't helping. Global container freight rates were little-changed last week from the prior one, and are now +6% higher than year-ago levels. There were few notable regional route changes. And bulk freight rates also held unchanged over the past week although at a high level. From a year ago these rates are up +90% however. The UST 10yr yield is now just on 4.39%, down -2 bps from this time yesterday.  The price of gold will start today up +US$72 at US$4616/oz. Silver is up +US$3 at just under US$74/oz. American oil prices are down -US$3 at just on US$103.50/bbl, while the international Brent price is down -US$9.50, and now at US$109/bbl. The Kiwi dollar is back up +50 bps from yesterday at this time at 58.9 USc. Against the Aussie we are up +10 bps at 82 AUc. Against the euro we are up +30 bps at just on 50.3 euro cents. That all means our TWI-5 starts today at just under 62.2 which is up +30 bps from yesterday. The bitcoin price starts today at US$76,167 and up +0.3% from this time yesterday. Volatility over the past 24 hours has been modest at just under +/- 1.2%. You can get more news affecting the economy in New Zealand from interest.co.nz. Kia ora. I'm David Chaston and we'll do this again on Monday.

The ASX is set to open higher after choppy trading across overseas markets, with investors also turning their attention to key inflation data out of Australia today. On Wall Street, markets were mixed as Iran again denied talks, keeping geopolitical uncertainty in focus. James Gruber, Equity Market Strategist at CommSec takes you through all the key numbers. The content in this podcast is prepared, approved and distributed in Australia by Commonwealth Securities Limited ABN 60 067 254 399 AFSL 238814. The information does not take into account your objectives, financial situation or needs. Consider the appropriateness of the information before acting and if necessary, seek appropriate professional advice.See omnystudio.com/listener for privacy information.

A 200-year-old trading empire is looking good. Asian conglomerate Jardine Matheson posts strong earnings and a higher dividend as its property, retail and infrastructure empire powers ahead. Meanwhile, Oracle delivers strong profits on AI demand - but investors are questioning whether its debt-fuelled data-center buildout could become tomorrow’s risk. On Wall Street, HSBC says peak fear around the Iran oil spike may have passed - and argues it’s time to overweight equities again. Corporate news includes buyback ambitions from Salesforce, an AI-agent social network move by Meta, tax provisions at Mapletree Logistics Trust, and profitability at EV maker Nio. Markets, strategy and the stories behind the numbers - hosted by Michelle Martin with Ryan Huang. Companies mentioned:Jardine Matheson • Oracle • Salesforce • Meta • Mapletree Logistics Trust • Nio • Yangzijiang ShipbuildingSee omnystudio.com/listener for privacy information.

00:00 And welcome to the program on your Tuesday afternoon and a glorious Tuesday it was. Well, let's just go straight to the phones today. We're going to talk to Gerald from Calpins. Gerald, what's on your mind? Man, Charlie, man, this gas over here in Calpins is three dollars, 20 cent a gallon. 320. Yep. And it's probably going to be that way for a couple of days, even though oil prices are going down, buddy. Appreciate it. 00:28 So how far did oil prices drop today? They went way down per barrel. They got down to, let me just double check here, right around 120 this afternoon. It hit $77.87. It's kind of rebounded a little bit. It's now up to $84.27. No, $84 flat right now as of the last check. 00:57 But this was something that President Trump said. Now, unlike Joe Biden, when Joe Biden said, these economists say that inflation is going to go up and this is going to go back down. It's just going go up a little bitty bit, this is going go back. It never went back down until Donald Trump became president. And President Trump said that these prices are going to go back down. And he's absolutely right. That's exactly what they're doing. In fact, 01:26 The experts are shocked by this. On Wall Street where the stock market is still soaring to new highs today, started out down, but then reversed course and has only gone up since then, the Dow at 421 points. says oil continues to sell off from those highs made yesterday, almost $120 a barrel yesterday. It's hard to update the banners fast enough. Right now we're looking at oil now down 19%. That's a drop of $18 a barrel. 01:56 and it is now at $77 a barrel. This is just an incredible swing. Here was the president on what they're doing about those, what were high energy prices yesterday. Listen. We're also waiving certain oil-related sanctions to reduce prices. So we have sanctions on some countries. We're gonna take those sanctions off till this straightens out. Then who knows, maybe we won't have to put them on. There'll be so much peace. 02:23 But when the time comes, the U.S. Navy and its partners will escort tankers through the strait if needed. Okay, Muhammad al-Ariyya. Okay, so that was the deal with the gas prices today. However, the ladies over on The View, and you know how much I love them, were, Whoopi Goldberg actually came up with a brilliant idea, the brilliant idea of tapping into our strategic 02:53 oil reserves. Yes, we just got the things almost filled back up under Donald Trump after they were depleted under Joe Biden. We almost got them all back to normal now. And Whoopi Girl was like, why don't you open up the strategic oil and we could do the... I think even Schumer called for that today. 03:18 Whoopi Goldberg and all of these others need to do and even us here in South Carolina. 03:27 They need to look at how much of a gallon of gas is taxed. 03:34 Did you know that in California, 03:40 There is about $2, $2 worth of taxes and regulations per a gallon of gas. $2 a gallon. uh 03:59 is what they're charging those people in California. Not for the gas production, not for the gas transportation. right, well, I'm gonna break all that down. So you got the crude oil, that's about 260 a gallon. You got the refining, which is about 65 cent a gallon. You got the distribution, retail, that's about 65 cents a gallon. Then you got the taxes coming in. Then you've got the environmental programs. And that's where it totals all up. 04:28 So right now they're looking at almost $7 a gallon in some places. how, mean, all of the regulations, but now let's go back and think about this for just a second. When we talk about crude oil and getting the crude oil from the ground to the gas pump, every single step along the way is taxed. The refining is taxed. 04:57 The distribution is taxed. Those trucks that ride up and down the road, they're taxed. Once it gets to the store, that store is taxed. 05:07 And the stores, remember these stores, they run a ve ...

The ASX is set to rise at the open as oil prices sink, providing some relief for markets. On Wall Street, markets moved higher after Donald Trump said the war could soon end, while gold leapt and base metals rallied as the US dollar paused its recent surge. James Gruber, Equity Market Strategist at CommSec takes you through all the key numbers. The content in this podcast is prepared, approved and distributed in Australia by Commonwealth Securities Limited ABN 60 067 254 399 AFSL 238814. The information does not take into account your objectives, financial situation or needs. Consider the appropriateness of the information before acting and if necessary, seek appropriate professional advice.See omnystudio.com/listener for privacy information.

It's a Monday morning update from the news desk. Today's forecast is sunny and warm, with highs in the sixties. But the good weather can't distract us from the top stories. We're talking about the crisis in the Middle East, oil prices skyrocketing to over $100 a barrel, and the impact on gas prices. On Wall Street, the Dow is taking a hit, and at airports across the country, the partial government shutdown is causing long delays. We'll dive into these stories and more, including a new development in Iran, a security scare in New York City, and a warning from Boston police about a scam.See omnystudio.com/listener for privacy information.

Welcome to the Daily Compliance News. Each day, Tom Fox, the Voice of Compliance, brings you compliance-related stories to start your day. Sit back, enjoy a cup of morning coffee, and listen in to the Daily Compliance News. All, from the Compliance Podcast Network. Each day, we consider four stories from the business world, compliance, ethics, risk management, leadership, or general interest for the compliance professional. Top stories include: On Wall Street, don't dress better than the boss. (WSJ) Workplace abuse was physical at Noma. (NYT) The Trump risk for international travel. (FT) Kalshi sued over the failure to pay out on a bet on the death of the Iranian leader. (Reuters) Learn more about your ad choices. Visit megaphone.fm/adchoices

https://media.blubrry.com/counterspin/content.blubrry.com/counterspin/CounterSpin260306.mp3 Right-click here to download this episode (“Save link as…”). Column (3/4/26) This week on CounterSpin: As a radio producer, you get pitches; to paraphrase one we got this week: Dear Janine, the United States and Israel launched attacks on Iranian military targets and leaders this weekend. Iran's Supreme Leader, Ayatollah Khamenei was killed, as were key Iranian leaders.  President Trump is urging Iranians to rise up and overthrow the regime…. What will the impact be on the economy? On Wall Street?  What does this mean for markets and investors going forward? We were then offered a guest who will tell listeners that “concerns about the attacks causing economic chaos are overblown…. The markets will panic initially and then stabilize.” And, most importantly, “this ends the uncertainty that was impacting the markets over Iran…. If American and Israeli objectives are met, it could lead to dramatically reduced gas prices long-term.” No mention of parents in Minab, who dropped their daughters off at school March 3 and now have to bury them. What's losing a child when we’re talking about you maybe—or maybe not—paying less at the pump, amirite? It would be one thing if it were a guy at the end of the bar, but we have official “smart people” news media instructing us on how we should think and feel about attacks—paid for with our sometimes important “tax dollars”—raining horror on Iranians whose crime is that they didn't overthrow their disapproved leadership. Ask yourself if you want that to be the criterion for violent aggression around the world. It's hard to parse US corporate news coverage of the attacks on Iran if you aren't willing to let go of the idea that might does not, in fact, make right—along with your ideas about what a better world could look like. That's why we grow our critical faculties, and support media outlets that, whatever else they do, don't tell us that the US and Israel killing Iranian children is just something to consume with your breakfast cereal. Gregory Shupak is an academic and activist, as well as author of The Wrong Story: Palestine, Israel and the Media from OR Books. We talk with him about the US war on Iran this week on CounterSpin. https://media.blubrry.com/counterspin/content.blubrry.com/counterspin/CounterSpin260306Shupak.mp3

Former President Bill Clinton tells Members of the House Oversight Committee in their Jeffrey Epstein investigation, "I had no idea of the crimes Epstein was committing. I saw nothing, and I did nothing wrong"; President Donald Trump says he is not happy with the way Iran is negotiating over its nuclear program, that he would love not to use military force, but "sometime you have to" and "They cannot have nuclear weapons"; President also says the U.S. could carry out what he calls a “friendly takeover” of Cuba; President is in Texas today to talk about energy production, ahead of next Tuesday's campaign primaries; New York City Mayor Zohran Mamdani talks about his meeting this week with President Trump in the White House Oval Office, during which he pitched a multibillion dollar plan to build 12,000 new housing units; On Wall Street, Dow drops 500 points after an inflation report, the producer price index,  was higher than expected; Defense Secretary Pete Hegseth announces an agreement with Scouting America to continue the military's relationship with the organization, which includes not accepting transgender youth under their preferred gender; NASA Administrator Jared Isaccman says the Artemis moon mission is being overhauled to include an extra test flight before the attempt to land on the moon in 2028. Learn more about your ad choices. Visit megaphone.fm/adchoices

On Wall Street, it's a showdown between hardware and software: As the rise of AI proves once again this week, it will continue to reshape the future of our economy. February was a volatile month, driven largely by growing investor anxiety about the long-term impact of artificial intelligence. Software stocks are currently experiencing a significant sell-off, driven by fears that AI tools from companies like Anthropic will disrupt traditional "Software-as-a-Service" (SaaS) business models for major players such as Microsoft, Adobe, and Salesforce. Lou Basenese—Executive Vice President of Market Strategy at Prairie Operating Company and a FOX News Contributor—joins FOX Business Network host Taylor Riggs to discuss how AI disrupted the markets this month, the standoff between Anthropic and the Pentagon, and the latest economic data regarding mortgage rates and inflation. Plus, Lou and Taylor discuss a surprising new trend: companies marketing makeup to... six-year-olds. Learn more about your ad choices. Visit podcastchoices.com/adchoices

On Wall Street, it's a showdown between hardware and software: As the rise of AI proves once again this week, it will continue to reshape the future of our economy. February was a volatile month, driven largely by growing investor anxiety about the long-term impact of artificial intelligence. Software stocks are currently experiencing a significant sell-off, driven by fears that AI tools from companies like Anthropic will disrupt traditional "Software-as-a-Service" (SaaS) business models for major players such as Microsoft, Adobe, and Salesforce. Lou Basenese—Executive Vice President of Market Strategy at Prairie Operating Company and a FOX News Contributor—joins FOX Business Network host Taylor Riggs to discuss how AI disrupted the markets this month, the standoff between Anthropic and the Pentagon, and the latest economic data regarding mortgage rates and inflation. Plus, Lou and Taylor discuss a surprising new trend: companies marketing makeup to... six-year-olds. Learn more about your ad choices. Visit podcastchoices.com/adchoices

On Wall Street, it's a showdown between hardware and software: As the rise of AI proves once again this week, it will continue to reshape the future of our economy. February was a volatile month, driven largely by growing investor anxiety about the long-term impact of artificial intelligence. Software stocks are currently experiencing a significant sell-off, driven by fears that AI tools from companies like Anthropic will disrupt traditional "Software-as-a-Service" (SaaS) business models for major players such as Microsoft, Adobe, and Salesforce. Lou Basenese—Executive Vice President of Market Strategy at Prairie Operating Company and a FOX News Contributor—joins FOX Business Network host Taylor Riggs to discuss how AI disrupted the markets this month, the standoff between Anthropic and the Pentagon, and the latest economic data regarding mortgage rates and inflation. Plus, Lou and Taylor discuss a surprising new trend: companies marketing makeup to... six-year-olds. Learn more about your ad choices. Visit podcastchoices.com/adchoices

The ASX is set to open strongly as investors brace for a fresh round of earnings reports. On Wall Street, stocks rebounded as technology shares recovered, with markets looking ahead to Nvidia’s results. In commodities, gold slipped from three-week highs as a firmer US dollar weighed on prices. James Gruber, Equity Market Strategist at CommSec takes you through all the key numbers. The content in this podcast is prepared, approved and distributed in Australia by Commonwealth Securities Limited ABN 60 067 254 399 AFSL 238814. The information does not take into account your objectives, financial situation or needs. Consider the appropriateness of the information before acting and if necessary, seek appropriate professional advice.See omnystudio.com/listener for privacy information.

Futures stretch into the green on both sides of the Atlantic as investors await a crucial U.S. non-farm payrolls print with the White House aiming to temper expectations. Dutch brewing giant Heineken announces it will be slashing thousands of jibs in the next two years and it has lowered its FY growth forecast after weak demand for its beers. German lender Commerzbank enjoys a Q4 beat on the top and bottom line and expects net profit for the year to top expectations. CEO Bettina Orlopp tells CNBC the bank is always open to renewed interest from Unicredit. On Wall Street, shares in U.S. financial stocks plunge following the unveiling of Altruist's new A.I.-powered tax planning tool. We hear from Anthoropic's CCO Paul Smith who says his company is set on extracting real value from A.I.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

White House removes a video shared by President Donald Trump that included images showing former President Barack Obama and former first lady Michelle Obama as apes, after Republican and Democratic lawmakers denounced the posting as "racist" and "offensive"; Attorney General Pam Bondi announces the arrest of a suspect in the 2012 terrorist attack on the U.S. Embassy in Benghazi, Libya that killed four Americans; U.S. holds indirect talks with Iran in Oman, but no major breakthroughs announced; Federal Reserve Vice Chair Philip Jefferson says is "cautiously optimistic" about the 2026 economic outlook, expects growth to stay slightly above recent trends, the labor market to stabilize and inflation heading back down to the Fed's 2% target; On Wall Street, Dow jumps 1,000 points to close about 50,000 for the first time; Democrats in New Jersey call out President Trump for holding up billions of dollars for the Gateway Tunnel transit project, reportedly because Democrats did not agree to name Penn Station in NYC and Dulles Airport in Virginia after him; former House Speaker Kevin McCarthy (R-CA) speaks at a Ronald Reagan 115th birthday celebration in California about Reaganomics; Vice President JD Vance meets with the Italian Prime Minister Giorgia Meloni ahead of the Winter Olympics opening ceremony; Maryland's Senate takes an official on who will win Sunday's Super Bowl. Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode of BizNews Daybreak, Alec Hogg unpacks a volatile morning on the global stage as the US Navy shoots down an Iranian drone, sending oil and defence stocks climbing. On Wall Street, Anthropic's latest release triggers a "SaaS apocalypse" sell-off, raising questions about the survival of legacy software firms. Back home, private airline CemAir celebrates its 20th anniversary by inking a strategic code-share with SAA, while tax expert William Louw exposes the bureaucratic maze that traps South Africans looking to emigrate. Plus, a heartbreaking look at Zimbabwe's economic collapse and the widening gap between the elite and the impoverished.

New York unlocks new casino licenses, AI market leaders shift, and Advent calendars get an unexpected economic twist. Michelle Martin and Ryan Huang look at Genting’s near-miss delisting and its renewed global momentum. DBS turns bullish on Bukit Sembawang Estates, calling it a potential dividend powerhouse. On Wall Street, AI heats up as Google unexpectedly outruns OpenAI and Nvidia in market performance. Plus: Up or Down, STI movers, and why Advent calendars are the ultimate “lipstick effect” of holiday spending.See omnystudio.com/listener for privacy information.

On Wall Street, fortunes are often won and lost with the tiniest advantages. And for the past few years, one trading firm has stood out from the rest for both huge profits and careful secrecy — Jane Street Group.But last year, one of Jane Street's biggest and most lucrative trading strategies was unexpectedly revealed in a Manhattan courtroom. The news ricocheted around the world. It drew the attention of competitors and regulatory agencies, destabilized billions of dollars worth of trades, and called into question some of the most fundamental strategies in global finance. Some Planet Money episodes about finance: - The rise and fall of Long Term Capital Management - How George Soros forced the UK to devalue the poundFurther reading:  - Jane Street Group, LLC v. Millennium Management LLC, Douglas Schadewald, and Daniel Spottiswood - “Jane Street's Indian Options Trade Was Too Good,” from Bloomberg - SEBI's report: "Interim Order in the matter of Index manipulation by Jane Street Group" - “Jane Street Defends India Trading Activity, Blasts Regulator,” from BloombergSubscribe to Planet Money+Listen free: Apple Podcasts, Spotify, the NPR app or anywhere you get podcasts.Facebook / Instagram / TikTok / Our weekly Newsletter.This episode was hosted by Alexi Horowitz-Ghazi and Mary Childs. It was produced by Eric Mennel, with production help from Sam Yellowhorse Kesler and Cooper Katz-McKim. It was edited by Jess Jiang. Fact-checking by Sierra Juarez. Planet Money's executive producer is Alex Goldmark.Learn more about sponsor message choices: podcastchoices.com/adchoicesNPR Privacy Policy

Breaking now — California politics turned upside down! Governor Gavin Newsom just held a press conference after state lawmakers approved a sweeping redistricting plan that could reshape power in Sacramento. Meanwhile, inside the prison walls — a moment decade in the making. Erik Menendez faced the parole board today. His brother Lyle gets his chance tomorrow. On Wall Street's radar — all eyes on Jackson Hole. Futurist Kevin Cirilli is there for the annual economic summit, where the future of interest rates — and even Jerome Powell's job as Fed Chair — could be on the line. Back here in L.A. — a hardware store with a dirty secret. Police say it was a front for a $4.5 million cargo theft ring. And chaos at the mall — gunfire outside the Cheesecake Factory in Topanga. A woman was shot, but the suspect was arrested moments later. 

President Trump has said he won't attempt to fire sitting Fed Chair Jerome Powell, but change is coming to the central bank regardless. On Wall Street and in Washington, names floated for the next Federal Reserve chair have included current NEC director Kevin Hassett and former Fed governor Kevin Warsh. In an extended interview, Kevin Warsh calls for a regime change at the bank, positing a revised theory of inflation and sharing lessons from his own history in finance. Plus, President Trump announced that Coca-Cola agreed to use cane sugar in its U.S. drinks, and the House of Representatives has voted to bring forward crypto legislation. Kevin Warsh - 18:39 In this episode: Joe Kernen, @JoeSquawkBecky Quick, @BeckyQuickAndrew Ross Sorkin, @andrewrsorkinKatie Kramer, @Kramer_Katie

LIVE today at 2pm PT, join me on Trader Merlin as we dive into the week's biggest market-moving stories. The Google antitrust case dominated headlines, with the DOJ pushing hard for a potential breakup of Google's core businesses— a move that could send shockwaves across the tech sector. Meanwhile, in the world of crypto and government, Elon Musk officially stepped down from the controversial Department of Government Efficiency (DOGE), signaling a potential new chapter for both Musk and the meme-turned-policy project. On Wall Street, the S&P 500 just posted its best May performance in over 30 years—closing the month up more than 6% as optimism around easing tariff tensions and a resilient U.S. economy fueled bullish momentum. Is this rally sustainable, or are cracks starting to form beneath the surface? We'll break it all down, plus look at the latest action in Bitcoin and altcoins, key technical levels across equities, and as always—I'll recap my personal trades and setups I'm watching for next week. Tune in LIVE at 2pm PT for all this and more—don't miss this week's Trading Week Wrap Up! #TraderMerlin #TradingWeekWrapUp #GoogleAntitrust #ElonMusk #DOGE #SP500 #Bitcoin #CryptoNews #StockMarketRally #InvestingPodcast #MarketRecap #FinancialPodcast #TradingPodcast #StockMarketNews #InvestingInsights   Contact TraderMerlin: Email – TraderMerlin@gmail.com Follow TraderMerlin: Twitter: TraderMerlin - https://twitter.com/TraderMerlin IG: TraderMerlin - https://www.instagram.com/tradermerlin/ FB: TraderMerlin  - https://www.facebook.com/TraderMerlin Live Daily Show:  - https://www.youtube.com/channel/UCczw6L9MSllTvWDK1fNlLrg Trading Applications used: -          Clik -          TradeStation -          Tradingview

Markets in the US and Europe have rallied off the back of trade tensions easing between China and the US. On Wall Street, the S&P surged more than 3 per cent, while the Nasdaq catapulted 4.4 per cent higher.

Why is investing in Game Stop going to cause the collapse of the financial system?In episode #475 of Mere Mortals 'Musings', Juan and I discuss: Tom Bilyeu's perspective that all financial actions are a form of gambling, James Jani's videos on GameStop and Bed Bath & Beyond (BBBY), how the irrational belief of "mother of all short squeezes" (MOASS) will lead to the financial system's collapse, our past financial delusions in stocks/properties/NFT's, the aftermath of bubbles bursting and Juan's current delusion of the impact of AI by 2026 (my opinion - correct).Huge thanks to Lyceum and all the other sat streamers out there. Your support means the world to us!Timeline:(00:00:00) Intro(00:03:00) Gambling Vs Investing(00:11:53) The GameStop Phenomenon(00:22:23) Bed Bath & Beyond: The Cult Of The Dead Stock(00:28:03) Boostagram Lounge(00:32:00) Personal Financial Delusions(00:45:02) Profiting From Financial Delusions(00:53:01) Bitcoin & Ignorance(01:00:01) Aftermath Of Financial Bubbles(01:11:52) Robert Downey Jr. On Wall Street(01:12:50) V4V: Time/Talent/Treasure Connect with Mere Mortals:Website: https://www.meremortalspodcast.com/Discord: https://discord.gg/jjfq9eGReUTwitter/X: https://twitter.com/meremortalspodsInstagram: https://www.instagram.com/meremortalspodcasts/TikTok: https://www.tiktok.com/@meremortalspodcastsValue 4 Value Support:Boostagram: https://www.meremortalspodcast.com/supportPaypal: https://www.paypal.com/paypalme/meremortalspodcast

Have you ever felt like no matter what you do, you'll never break free from your current financial situation? Do you catch yourself thinking, “This is just how my life is meant to be”? If so, you're not alone. Many people are born into circumstances that shape their beliefs about money, success, and their own potential. But what if those beliefs are holding you back? The truth is, your mindset around money could be the very thing keeping you stuck. Thinking you're destined to fail because of where you started in life is a broken mindset. And yet, so many people live their entire lives believing they are trapped, unable to break the cycle. The problem isn't where you come from—it's how you think about money. If you don't understand your views on money or address the deep-rooted psychology behind them, you'll continue to repeat the same patterns. What could be accomplished if people broke free from limiting beliefs about money? What's stopping us from taking the first step toward change? Bradley T. Klontz, Psy.D., CFP® is an expert in financial psychology, financial planning, and applied behavioral finance and he joins me for this episode to share on financial psychology and how to change the money mindset so many people are conditioned to.   Things You'll Learn In This Episode  How to deal with roadblocks  Overcoming roadblocks is essential to achieving wealth—persistence is key. How can we stay motivated when facing obstacles on our path to financial success? Rich vs. poor mindset Surrounding ourselves with those who have a poor mindset can hinder our financial growth and future. How does the mindset of those around us influence our financial success? If others can achieve it, so can we Seeing others succeed proves that achieving our goals is possible for us too. What steps can we take today to follow in the footsteps of those who inspire us? Guest Bio Bradley T. Klontz, Psy.D., CFP® is an expert in financial psychology, financial planning, and applied behavioral finance.  He's an Associate Professor of Practice at Creighton University Heider College of Business, Co-Founder of the Financial Psychology Institute, and Managing Principal of YYMW Advisors. Dr. Brad is co-author/co-editor of 8 books on the psychology of money: Psychology of Financial Planning (Wiley, 2023), The Practitioner's Toolkit (Wiley, 2023), Money Mammoth (Wiley, 2020) Facilitating Financial Health (NUCO, 2008; 2016), Financial Therapy (Springer, 2015), Mind Over Money (Broadway Business, 2009), Wired for Wealth (HCI, 2008), and The Financial Wisdom of Ebenezer Scrooge (HCI, 2005; 2008). He is a Fellow of the American Psychological Association, and a Former President of the Hawaii Psychological Association. He was awarded the Innovative Practice Presidential Citation from the American Psychological Association for his application of psychological interventions to help people with money and wealth issues and his innovative practice in financial psychology for practitioners across the country. Dr. Brad has been a columnist for the Journal of Financial Planning, On Wall Street, and Psychology Today: Health, Help, Happiness + Find a Therapist . His work has been featured on ABC News' 20/20, Good Morning America, and in USA Today, The Wall Street Journal, New York Times, Washington Post, Los Angeles Times, Time, Kiplinger's, Money Magazine, NPR and many other media outlets and professional magazines and journals. He was appointed to the CNBC Financial Advisor Council in 2023 and received the 2018 and 2021 Montgomery-Warschauer Awards from the Journal of Financial Planning, honoring the most outstanding contribution to the betterment of the financial planning profession. He has partnered with organizations including Capital One, JP Morgan Chase, Mutual of Omaha, and H&R Block in efforts to help raise public awareness around issues related to financial health and financial psychology. Visit https://www.bradklontz.com/  Email Brad brad@klontzconsulting.com     About Your Host From pro-snowboarder to money mogul, Chris Naugle has dedicated his life to being America's #1 Money Mentor. With a core belief that success is built not by the resources you have, but by how resourceful you can be. Chris has built and owned 19 companies, with his businesses being featured in Forbes, ABC, House Hunters, and his very own HGTV pilot in 2018. He is currently founder of The Money School™, and Money Mentor for The Money Multiplier. His success also includes managing tens of millions of dollars in assets in the financial services and advisory industry and in real estate transactions. As an innovator and visionary in wealth-building and real estate, he empowers entrepreneurs, business owners, and real estate investors with the knowledge of how money works. Chris is also a nationally recognized speaker, author, and podcast host. He has spoken to and taught over ten thousand Americans delivering the financial knowledge that fuels lasting freedom.   Check out this episode on our website, Apple Podcasts, or Spotify, and don't forget to leave a review if you like what you heard. Your review feeds the algorithm so our show reaches more people. Thank you! 

On Wall Street the Nasdaq closed Thursday's session above the 20k-mark for the first time ever after the CPI data hit expectations. A further rate cut by the Fed is now expected next week. Asian markets followed suit into the green with investors now eyeing further stimulus from Beijing as a two-day economic summit ends today. We are live at the ECB where a fourth rate cut is almost a certainty but focus will turn to next year's outlook as the euro zone grapples with faltering growth in France and Germany and the impact of the second Trump presidency. We are also at the SNB in Bern for the first rate decision under new chairman Martin Schlegel with markets split on the size of a widely anticipated rate cut.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

A vote of no-confidence in France brings the government down, ensuring Michel Barnier is the nation's shortest-serving prime minister in more than 60 years. We are live in Seoul, South Korea where President Yoon Suk Yeol faces an impeachment vote this Saturday following Tuesday's 6-hour long declaration of martial law. On Wall Street, tech stocks push indices into the green with the Nasdaq enjoying its best day since July. Federal Reserve Chairman Jerome Powell, however, still urges caution over further rate cuts. And in crypto news, Bitcoin finally breaches the $100k-mark as it continues to rally following the election of Donald Trump. The President-elect taps crypto advocate Paul Atkins for SEC chairman. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

South Korean President Yoon Suk Yeol is reportedly facing an impeachment vote as early as this Friday following yesterday's 6-hour period of martial law. The political fallout sent the Korean won plunging to a two-year low. In Paris, Prime Minister Michel Barnier's government is on the brink of collapse as opposition parties table a vote of no-confidence over his handling of the country's budget. On Wall Street, the S&P 500 and Nasdaq enjoy fresh record highs ahead of this Friday's employment print. E-commerce giant Amazon launches plans for a new A.I. super-computer using home-grown semiconductors in a bid to head off rival Nvidia.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Apple shares dip following cautious guidance ahead of Christmas. The company also reveals little about demand for its new iPhone 16. Amazon posts a beat on quarterly earnings causing shares to pop in extended trade. The e-commerce giant's CEO Andy Jassy pledges to significantly ramp up spending on the company's A.I. technologies. On Wall Street the S&P 500 and the Nasdaq suffer their worst day in more than a month following disappointing Big Tech results. And in the UK, the gilt sell-off increases and sterling endures a volatile session as investors fear Chancellor Rachel Reeves' budget could force inflation back up while piling up debt.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Crude prices tumble following reports that Israel will back off targeting Iranian oil or nuclear infrastructure. Opec has also slashed its demand forecast. On Wall Street, the S&P 500 records its 46th record close of 2024, helped along by tech giant Nvidia hitting a new all-time high which places it on the verge of overtaking Apple as the world's most valuable company. We are live at the Paris Motor Show where European car makers pledge to take on Chinese competition. Xpeng CEO Brian Gu tells CNBC the company is looking beyond European Union EV import tariffs. In London, UK Prime Minister Keir Starmer vows to cut red tape to ramp up investment in the country. BNY CEO Robin Vince tells this channel a steady, pro-growth and consistent approach is key for investors.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Commerzbank promotes CFO Bettina Orlopp to CEO as the German lender faces takeover advances by Italy's Unicredit. Chinese equities see an extended rally following the PBOC's decision to slash the medium-term lending rate as a part of a string of stimulus measures by the central bank. The move boosts the yuan to a 16-month high. On Wall Street, the Dow and S&P 500 record new record highs, shrugging off disappointing recent consumer confidence data. Israeli airstrikes kill a senior Hezbollah commander as well as hundreds of civilians. The Israeli President Isaac Herzog tells CNBC his country will ‘do whatever it takes' to protect its citizens and cities. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Asian equities hit a two-and-a-half-year high following stimulus measures from Beijing. The PBOC cuts the seven-day reverse repo and the RRR in a bid to shore of up the country's floundering property sector. Our CNBC TV 18 colleagues sit down with JP Morgan Chase CEO Jamie Dimon who says markets should remain cautious despite last week's historical rate cut by the Fed. On Wall Street, the Dow and the S&P 500 notch new records as the Fed cut relief rally continues this week. German Chancellor Olaf Scholz slams Unicredit after the Italian lender increases its stake in Commerzbank to a potential 21 per cent. And we are live at the Labour Party conference in Liverpool where chancellor of the exchequer Rachel Reeves defends the government's public finance decisions and says her budget next month will provide ambition rather than austerity. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

CNBC's Eamon Javers and pollster Frank Luntz help digest the fireworks of the Presidential debate between Vice President Kamala Harris and former President Donald Trump, including the big Taylor Swift endorsement that came after. On Wall Street, investors were unsurprised by the Labor Department's August Consumer Price Index. Neuberger Berman's Steve Eisman discusses the likelihood of a 25 basis point interest rate cut from the Federal Reserve next week. And, 23 years later, Americans come together to remember those lost in the September 11th terrorist attacks.  Eamon Javers - 4:31Frank Luntz - 15:35Steve Eisman - 27:23 In this episode:Eamon Javers, @eamonjaversBecky Quick, @BeckyQuickJoe Kernen, @JoeSquawkAndrew Ross Sorkin, @andrewrsorkinKatie Kramer, @Kramer_Katie

If you are a follower of the end times, today is your day to say the least. Lots of breaking news everywhere you look and all of it, from a worldly perspective, is bad and getting worse. In the Middle East, the United States is prepared at any moment for Iran, Hezbollah, Yemen and Hamas to launch an attack on Israel. On Wall Street, the stock market is reacting to the prospect of a Kamala Harris presidency, and it is in the process of crashing, shedding over $1 TRILLION in value so far. Welcome to the KamalaKrash. On this episode of the NTEB Prophecy News Podcast, today is Day 304 of the Israel-Hamas War, and Day 1,603 of 15 Days To Flatten The Curve, and you can literally feel the end times electricity in the air. In the Middle East, at any moment Israel could find themselves in a 5-front war eerily similar to the Six Day War. In the United States, after nearly 2 weeks of all news stories being about Kamala Harris becoming the next president, the stock market has made its comment on that prospect with an eye-popping stock market crash that is still ongoing, who knows how bad it will fall. In England, fed up with their government's policy of endless illegal immigration, British citizens have begun vigilant justice in the streets as a response to the many rapes and murders illegals have been conducting since their arrival. So much to talk about today, almost impossible to know where to start first, but into the breach we go. TO THE FIGHT!!!

Indian prime minister Narendra Modi looks set to secure a third term in office with a narrower-than-expected parliamentary majority. We are live in New Delhi as the vote count continues. On Wall Street the Dow falls 100 points on the first trading day of June as U.S. manufacturing numbers indicate the economy is contracting. Gamestop shares rally following renewed social media activity by the investor known as Roaring Kitty. CNBC learns that Paramount and Skydance agree to merger terms after months of negotiations. Shipping giant Maersk hikes its guidance for the second time in just over a month as Red Sea tensions and soaring demand push freight rates higher. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Renault enjoys a FY operating margin on revenue of more than €50bn and is set to hike its dividend. French aviation giant Airbus sees full-year results surging on the back of a record orderbook and is also due to propose a special dividend payout. On Wall Street, the S&P 500 is back up at the 5,000-point mark as chip maker Nvidia briefly overtook Alphabet on market cap value. Meanwhile Berkshire Hathaway pares back its Apple stock and ramps up investment in Chevron. The company has sought confidentiality from regulators to keep its stock purchases secret in its latest 13-F filings. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

David does The News.

German engineering giant Siemens posts a 56 per cent rise in Q net income and boasts an order book of more than €22bn. CEO Roland Busch says the China market remains a concern. Shares in chip maker ARM are up 40 per cent in after-hours trade after the firm hiked guidance on strong A.I. demand. ARM's major shareholder Softbank also posts a $16bn gain in earnings. Disney hikes its forecast and announces its foray into gaming, investing $1.2bn in Fortnite maker Epic Games. In China, producer prices fall for a sixteenth consecutive month while consumer prices have their steepest fall since 2009. On Wall Street, the S&P 500 records another record high – just five points shy of the 5,000-mark. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The legacy of slavery in this country is undeniable. And yet we're a long way from acknowledging how fundamental it is to how America came to be, and how it should be discussed and represented. Those tensions are playing out in our monuments - including in places we don't often associate with slavery, like New York City. On Wall Street sits Federal Hall, a place dedicated to many firsts: the First Amendment, the first Capitol building and the first U.S. president. Less than a mile away is the African Burial Ground, dedicated to the 419 enslaved Africans buried there. Considered together, these two National Park Service sites illuminate how we talk about the birth of the United States, and the enslaved people who made this new country possible. For more on the show, visit prx.org/monumental.

French luxury giant LVMH smashes expectations to post almost $24bn in Q4 sales on rebounding Chinese demand. CEO Bernard Arnault has urged the need to focus on quality over quantity. On Wall Street the S&P 500 hits a record high to close in the green for a fifth consecutive session while the Dow also scores a new record peak on the back of stronger-than-expected economic growth Stateside. Tesla shares sink the most in a year with the EV maker seeing $80bn wiped off its valuation as demand weakens. And in tech news, Intel also sees a fall in its share price in extended trade as poor demand for data centre chips affect Q1 guidance. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

On today's podcast: 1) Treasury Secretary Janet Yellen called on lawmakers to pass a temporary spending bill this week and avert a partial US government shutdown. 2) The European Central Bank is likely to cut interest rates in the summer, according to President Christine Lagarde. Interviewed at Bloomberg House in Davos by Francine Lacqua, she was asked if there could be majority support for such a move, given that several policymakers have signaled that timing. 3) Apple Inc.'s iPhone dethroned Samsung Electronics Co. devices to become the best-selling smartphone series over the course of 2023, the first time South Korea's largest company has lost the top spot since 2010. Full Transcript: Good morning. I'm Nathan Hager and I'm Karen Moscow. Here are the stories we're following today. We begin in Washington. That's where a temporary spending bill to avoid a government shutdown this weekend has cleared its first hurdle. Bloomberg's Amy Morris has more from the nation's capital. The Senate voted to advance the measure that will fund some federal agencies through March first and others through March eighth. The interim funding is the support of congressional leaders, including House Speaker Mike Johnson, so the prospects for passage in both chambers are good. Does not include several disputed items like eight for Ukraine restrictions along the US border or an eighty billion dollar business tax package. And there are hard right conservatives in the House who oppose funding agencies at current levels, but Speaker Johnson can bypass them by relying on Democrats for support. In Washington. Amy Moore as Bloomberg Radio. All right, Amy, thanks well. Now to the latest on the race for the White House. It's on to New Hampshire for the Republican candidates, and Bloomberg's at Baxter reports are really starting to heat up. Nicki Haley has been very careful not to directly attack Donald Trump, but one day after Iowa as she's calling him a bully and a liar. Trump lamb based Haley as a disaster. Now this all comes with polling that chowse the two very close. In New Hampshire, Real Clear Politics has Trump by about fourteen points, but the American Research Group even called it dead even at forty four percent, with Ron Desatus at only four percent. Tomorrow's schedule debate has been canceled because Haley declined if Trump wasn't going to be there at Baxter Bloomberg Radio, Okay, and thanks. Now let's turn to the Middle East. Israel and Hamas have reached a deal to deliver medicine and other aid to Gaza. That's according to the government in Kadra, which says this is in exchange for medicine reaching the hostages being held by Hamas. White House National Security Advisor Jake Sullivan says there is still a risk this war widens to a regional conflict. We do see a pathway to a shift in the military campaign in Gaza, a reduction in tensions and the exchange of fire along Israel's northern border, a reduction in the risk of escalation in other parts of the region, and we'll have to continue to deal with the Hoothi threat. National Security Advisor Jake Sullivan spoke from the World Economic Forum in Davos. Israeli President Isaac Herzog plans to bring the families of hostages to the slopes in Switzerland today to step up pressure for their release. Well, Nathan, back here in the US, we are waiting for a key economic group board as doubt grows on whether the FED will start cutting rates as soon as March, and we get the very latest with the Bloomberg's John Tucker, John and Karen. Retail sales probably increased in December. However, the control group sales, which strip out volatile items, that likely slowed to a more subdue pace. Traders are launching on every piece of data as the FAN enters a blackout period next week. Yesterday, Federal Reserve Governor Christopher Waller threw a little cold water around the idea of FED rate cuts as soon as March. With economic activity and labor markets in good shape, and inflation coming down gradually to two percent, I see no reason to move as quickly or cut as rapidly as in the past. With Wallner's comments, Transury suffered their biggest one day price drop in two months. Yield Seweragetan also drag stocks lower. John Tucker Bloomberg Radio, John thanks, rates are very much in focus overseas that the World Economic Forum. European Central Bank President Christine Legard said the ECB will probably cut rates by the summer. I would say it's likely too, but I have to be reserved because we're also saying that we are data dependent and that there is still a level of uncertainty and some indicators that are not anchored at the level where we would love to see them. ECB President Leaguard made those comments to Francine Lockwha at Bloomberg House in Davos. You can hear their full conversation on the Bloomberg Talks podcast. Well Nathan investors are scaling back their expectations for rake cuts from the Bank of England this year. Inflation in the UK unexpectedly accelerated for the first time in ten months. December's consumer price index was four percent higher than the previous year. On Wall Street, Karen JP Morgan Chase is bucking a trend, the bank plans to hire more workers. We caught up with JP Morgan president Daniel Pinto at Davos. We are employed at the end of the year around three hundred and twenty thousand people. So the number of people that employ has been growing and not ranking. So I think that where we see opportunities and we can have our clients, for sure, we'll focus on that. Daniel Pinto's comments come after JP Morgan closed out the most profitable year in US banking history. Also more banking news this morning, Nathan, the government is unveiling a long awaited rule that could slash the biggest bank's income from overdraft fees by as much as three and a half billion dollars each year. Under the regulation from the Consumer Financial Protection Bureau, banks would only be able to charge what it costs for them to break even for covering an overdraft or a bu by a specific cap that would effectively eliminate overdraft charges for customers, which right now average about thirty five dollars. Let's turn to some corporate news now. Karen Apple has reached a milestone. The company's dethroned Samsung to become the world's top phone maker in twenty twenty twenty three. IDC estimates the iPhone accounted for a fifth of the global market last year with close to two hundred thirty five million shipments. Apple's dominated recent holiday quarters, but the full year surge is unprecedented, and it suggests Apple is weathering an industry wide slump better than its rivals. And finally, Nathan, it was supposed to be the merger from Heaven, or at least from thirty thousand feet, but now a federal judges block Jet Blues three point eight billion dollar acquisition of Spirit Airlines. The judge says the combination with stifle competition and raise fares for consumers. Jet Blue and Spirit contended that consolidation is the only way smaller airlines can effectively compete with the dominant carriers. Time and not for look at some of the other stories making news around the world. For that, we're joined by Bloomberg's Amy Morris Amy, Good morning, Good morning, Karen. President Biden is worried about his supplemental bills stalling out in Congress, so he's inviting some of the key players to the White House today. Bloomberg's Nancy lyons with the latest. White House Press Secretary Karine Jean Pierre provided a list of those invited to the meeting, and then Biden will host congressional leaders from the Senate and the House, along with key committee leaders and ranking members. She says there's a lot to talk about, but President Biden has one topic he's especially concerned with. This is going to be about discussing critical importance of the President's Facial Security supplemental request. That's the proposal to further fund Ukraine, Israel, and Taiwan. Republicans are refusing to move on that until there's a consensus on a new border policy in Washington. Nancy lyons Bloomberg Radio. Secretary of State Anthony Blincoln says soil should be treated as a precious resource, telling the World Economic Forum in Davos that lack of food is causing unprecedented global migration flows at Russia's war in Ukraine and attacks by who they rebels and the Red Sea have made things worse. A parent who can't put food on the table for their children picks up the family and moves because it's the most basic thing, the most important thing that they can do. Lincoln says, the problem is likely to get worse as climate change threatens to reduce crop yields. Now Climate Envoy John Kerry, also at the World Economic Forum, says he's stepping down from the role within the Biden administration so he can take on a more vocal position for the Biden campaign. He assured other world climate leaders that yes, he'll still be around. I'm going to stay at this and there are so many different ways to continue to be able to be engaged in this. So unfortunately you're stock. You'll see me at the copy you see. Rivia Carrie says regardless of who wins the election, the global climate agenda will remain solid, and the World Health Organization says the number of adult tobacco users is on the decline. The organization says the biggest decrease in tobacco use is seen happening in lower to middle income countries. We have nineteen million less smokers than we had two years ago. That is the first time that we see such a decline. Doctor Rudiger Kresh is urging countries to continue putting control policies in place for tobacco. Global News twenty four hours a day and whenever you want it with Bloomberg News Now. I'm Amy Morris and this is Bloomberg Karen. All right, Amy, thank you. We do bring you news throughout the day right here on Bloomberg Radio. But now you can get the latest news on demand, and that means whenever you want it. Subscribe to Bloomberg News Now to get the latest headlines of the click of a button. Get informed on your schedule. You can listen and subscribe to Bloomberg News Now on the Bloomberg Business app, Bloomberg dot com plus apples, Spotify, and anywhere else you get your podcasts. Time now for the Bloomberg Sports Update. Here's John stash Hour John Charny Atlanta Falcons, one of seven NFL teams looking for a head coach at indications that the Falcons are looking for a big name to be their new coach. The day after they interviewed Bill Belichick, they interviewed Jim Harbaugh, who previously had already interviewed with the Los Angeles Chargers. So Harbaugh clearly hasn't interest in returning to the NFL and leaving Michigan, where he just won a national championship. Reportedly, Harbaugh if he stays with Michigan wants it written into his contract that he can't be fired due to NCAA violations. Mike Tomlin has reportedly told his team in Pittsburgh that he'll remain as coach of the Steelers. It's the job he's had for seventeen years. The Steelers had only had three different head coaches in the last fifty four years. Jason Kelsey told his teammates in Philadelphia just after that blowout loss at Tampa Bay at the end of their season that he's retiring at age thirty six, thirteen years all with the Eagles. He won a Super Bowl, He went to the Pro Bowls seven times. Taulliat tadabaloo. That's to his younger brother, who's been playing quarterback for Maryland. Denied a waiver for another year of eligibility, so he journing the Pro Battle. The NBA's top two big man and Joe lmb And outplayed the Kola Yokiz. He scored forty one points in the second straight game. Philadelphia beat Denver one twenty six one twenty one big comeback and Phoenix, led by Kevin Durant, they were down twenty two to the fourth court of the Sun's rallied top Sacramento by two. Hockey of the Capitals are two nothing to win over Anaheim, kyl and Shops second right, Purdue an easy win at Indiana. John Skashanwer Bloomberg Sports from coast to coast, from New York to San Francisco, Boston to Washington, DC, nationwide on siriusxam, the Bloomberg Business app in Bloomberg dot com. This is Bloomberg Daybreak. Good morning, I'm Nathan Hager. European Central Bank President Christine Legard says aggressive bets on interest straight cuts from the financial markets are not helping policymakers with their task to bring down inflation, but she says it is likely the ECB will cut rates in the summer. Madame Lecguard spoke with our editor at large France seen Lockwow from the World Economic Forums Bloomberg House in Davos, Switzerland. Let's listen in to part of that conversation. Now, when you look at inflation, when you look at monetary policy, what's changed your mind on how quickly we get a cut from the ECB? You know, when I look at a year ago in doubles and when I compare that with where we are today, I see a slope downward, but certainly not a slope which is at target where we want it. So that's what we have achieved. I think in a little over a year, bring inflation back from where it was in October twenty two at ten point two percent down to a two point nine percent month and month December, and certainly with the prospect of keeping it down and further down because our target is two percent and we are you know, I would have said a year ago that we are determined we want to get it to SI I would say to you now that we are confident that we will get it to that target two percent medium turn. Are market's too optimistic on the industry. I'm not going to comment on markets. Markets do their job, they have their numbers, they have their objectives. What we do at the CB, and what I think most central banks would do, is work as hard as we can collecting data using artificial intelligence by the way for that, analyzing data, confronting viewpoints, checking models against empirical data, doing scenario analysis, and being as as comprehensive as we can to anticipate what's coming. And it's hard because what many people don't understand is that monetary policy works with a lag. So whatever we do now is going to have an impact in a few months and sometimes a year or two, and we have to take that in account to decide what we do, how long we hold, and what decision we make in due course. When you say that you gather data also with AI, it does AI also analyze because again you're looking at the current data. You're trying to forecast what your monetary policy is doing in the future. So is it algorithms? Like, how does that work? We do data collection a lot, we don't We don't determine monetary policy using algorithm and artificial intelligence. And I think that time we can check with the AI experts, of course, but I don't think that that time has come yet. When you look at again the forecast, and I understand you're not focused on the market, but if the markets prices that are not focused, we look at them, we look at what they say. We are attentive, but everyone has their job and we cannot, you know, sort of second guess what they will think that we are thinking that they are second guessing. I mean, it's it's a catch twenty two job, right, But if the market is too optimistic about cuts, does it actually hurt and not help the fight against inflation by doing that? I was going to ask you that, So it makes sure your job harder if if they're actually mispricing what you're trying to tell them, it is not helping a fight against inflation. If if the anticipation is such that you know, they are way too high compared with what's likely to happen. Is it too early to cry victory against inflation? How do you see it behaving? We are on the on the right path, We are directionally towards the two percent. But unless and until we are confident that it is sustainably at two percent medium term and we have the data to you know, support it, I'm not going to shout victory. No, not yet. How much is the inflation reduction thanks to your monetary power and how much of it is like, No, I wouldn't call it luck. I think two factors have played a critical role, and it's the decline in energy prices that we have observed. You know, energy prices pushed prices up massively, and energy prices decline of course has a similar impact. So that's number one. Number two the bottlenecks that we have observed as a result of COVID in particular, and which lasted quite a lot of quite a long time, has gradually faded out, and that also had an impact, you know, more supply, more availability of goods. Second factor. The third factor is monetary policy, and it's undoubtedly been effective, if only to anchor inflation expectations, which we know is really important. So it has had an impact on inflation itself, but it has definitely had an impact on inflation expectations, which by all accounts and all surveys and all measurements have come down and are really now broadly onto that two percent medium term target that we have. I know it's obsessive two percent medium term targets, but yeah, that's what it is. Yeah, but at least it's auld guide the markets, right, I mean, it's good to be upsetsed. Well, if they don't know that that's what we are aiming for, then they need to have the head examined, that's for sure. And then again talk to me a little bit about wage bargaining. So again is that going to be on the upside and could that change you know, the timing of a possible work. Well, I'm glad you mentioned wages in general, wage bargaining in particular, and I'll go to that, but I want to tell you that there are three things that I'm watching carefully. Wage bargainings, profit margins, energy prices, and hopefully not but the coming back of supply bottom Miex. Those are four key components which could have a serious impact on the work that we're doing against inflation. But back to your wage question. Wages have gone up, but relatively slowly, so in prices have gone up earlier and faster than wages, so we are now facing a moment of not only some degree of alignment, but catch up as well. So employees have lost purchasing power in the course of twenty one twenty two, and there is now a catch up effect in the bargaining discussions that are taking place. We will know a lot more, probably in April May, because the numbers the bargaining agreements are being negotiated in the first quarter of every year, and the results come in after the agreements have been closed, so that gives us indication that we can corroborate and verify in the late spring, I would say of of twenty four, that will be a strong indication our wages slowly catching up, and that catch up process will take place over the course of two or three years possibly, or is there a very strong catch up coupled with an alignment with inflation, which would give me concern because while we're not seeing today's second round effect, that could be the result of this sort of twofold process. Are you confident there will be a cut this year in interest rates? Confident? I'm confident that short off another major shock, we have reach reached a peak. Okay, Now we have to stay restrictive for as long as necessary to make sure that we get to that state where we're all saying, okay, confident that it is at two percent medium term. I know some people argue that maybe we are overshooting, maybe we're taking risks. I think the risk would be worse if we went too fast and had to come back to more tightening, because we would have wasted all the efforts that everybody has put in the last fifteen months. The US election, Yeah, let me have some coffee. How arid are you about the US election? It's for the American people to decide what they want with their politics, with their government. With their future. But obviously we are all concerned about it because the United States is the largest economy, the largest defense country in the world, and has been a beacon of democracy with all its upside and downside. But this is what they should be considering, and of course we cannot interfere with their choice. It's their choice and that's the beauty of democracy. But we have to be extremely attentive and anticipate, just as we do with inflation. You know, we do scenarios. What if, what if? Then what do we do? Because that's the real question. And you know where I sit now in Frankfurt, head of the ECB, I think that we have to be strong as Europeans and not assume that we can rely on whoever our friends are around the world, because these things change over the course of time, as we have seen. So what if Donald Trump gets into the White House, what are some of the policies that europe could be put in place to not be cut also between China and the US with Donald Trump and the White House. Well, for one, it has to be strong of its own and if I look at my own shop, because it matters to monetary policy transmission, I think that and you will hear that from others. We have to accelerate capital market union. We need financing in Europe. There is a lot of saving in Europe, and we have to make sure that those savings actually stay here to finance what needs to be financed, which is predominantly the climate transition, which is digitalization, which is enough industrialization conducted with a targeted approach so that we can on the key in the key areas be self sufficient. Are there policies that you would put in place now for Europe to I guess counter the US exceptionalism, which you know could be questioned going forward. I think I would accelerate many of the initiatives that have been taken, and I would encourage European leaders to put aside a little bit they respective idiosyncraty idiosyncratic differences to be more together because you know, it's a question of off size and scale, and Europe is a very large market, has a very sizable population, has capacity to innovate, has financing. It has to you know, be a little bit more cohesive together and forward looking. This is Bloomberg Daybreak today, your morning brief on the stories making news from Wall Street to Washington and beyond. Look for us on your podcast feed at six am Eastern each morning, on Apple, Spotify, and anywhere else you get your podcasts. You can also listen live each morning starting at five am Wall Street Time on Bloomberg eleven three to zero in New York, Bloomberg ninety nine to one in Washington, Bloomberg one oh six to one in Boston, and Bloomberg ninety sixty in San Francisco. Our flagship New York station is also available on your Amazon Alexa devices. Just say Alexa Play Bloomberg eleven thirty plus. Listen coast to coast on the Bloomberg Business app, SERIUSXM, the iHeartRadio app, and on Bloomberg dot Com. I'm Nathan Hager and I'm Karen Moscow. Join us again tomorrow morning for all the news you need to start your day right here on Bloomberg Daybreak and beSee 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The Bank of Japan revises its upper limit on the 10-year JGB yield as a loose reference rather than a strict cap with the yield now hitting its highest level in almost a decade. On Wall Street, the S&P 500 enjoys its best day since August exiting correction territory but all three major U.S. indices are set to close October in the red – their first three-month losing streak since March 2020. In China, manufacturing activity saw a surprising dip for the month with services and construction also falling. And in corporate news, Tesla shares sink after its battery partner warns that EV demand is faltering. X CEO Elon Musk's stock plan indicates he values the social media company at less than half the price he paid for it last year.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

IMF Managing Director Kristalina Georgieva says the global economy is holding up, ahead of next week's Annual Meetings – while calling for structural reforms in Germany. On Wall Street, attention turns to September's non-farm payrolls report, with analysts expecting 170k new jobs to have been created – slightly lower on the month. EU leaders gather in Granada, pledging more support for Ukraine. European Parliament President Roberta Metsola urges allies to step up, telling CNBC the bloc can't do it alone. Elsewhere Exxon Mobil is reportedly in advanced talks to buy Pioneer Natural Resources, in a deal worth as much as 60-billion dollars, as the U.S. energy giant wades deeper into the shale space. And we delve into the troubles at Metro Bank after shares plunge on reports the U.K. challenger bank is looking to raise £600 million in capital, or sell a significant chunk of its mortgage book.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Dr. Brad Klontz | Financial Psychologist | Author | Professor | Speaker | Financial Advisor BIO:Dr. Bradley T. Klontz, Psy.D., CFP®, is a renowned expert in financial psychology, applied behavioural finance, and financial planning. He is an Associate Professor of Practice at Creighton University Heider College of Business, Co-Founder of the Financial Psychology Institute, and Managing Principal at YYMW Advisors. Dr. Brad has made significant contributions to the field with eight books on the psychology of money. He's a Fellow of the American Psychological Association, a former President of the Hawaii Psychological Association, and received the Innovative Practice Presidential Citation from the American Psychological Association. Dr. Brad is a columnist for prestigious publications, including the Journal of Financial Planning, On Wall Street, and PsychologyToday.com. His work has been featured on ABC News' 20/20, Good Morning America, The Wall Street Journal, New York Times, and USA Today, among others. He's been honoured with awards like the 2018 and 2021 Montgomery-Warschauer Awards from the Journal of Financial Planning and has partnered with top organizations like Capital One, JP Morgan Chase, Mutual of Omaha, and H&R Block to promote financial health and psychology awareness. Why You Should Listen: In this episode, Dr. Brad Klontz shares his passion for delivering practical and relatable financial guidance on TikTok. He challenges the common misconception that millionaires indulge in lavish spending, presenting research that shows they tend to be frugal. Dr. Klontz explores the psychology of trust on social media, the dynamics of content virality, and the stark differences between poor and rich mindsets. Dr. Klontz's mission is to inspire and challenge listeners to rethink their financial beliefs, helping people gain financial confidence by challenging our assumptions. Be sure to stay until the end when RootHub makes up a song for Dr. Klontz! Highlights: Discover why Dr. Klontz is dedicated to providing financial advice on TikTok. Learn to distinguish authentic trust from artificial trust when seeking financial advice on social media. Gain insights into the psychology of virality. Learn the differences between poor and rich mindsets. Get tips on crafting compelling messages that resonate with people. Dr. Klontz encourages listeners to challenge their financial beliefs and plant the seed for a brighter financial future. The importance of cultivating an internal locus of control Understand the importance of providing well-researched financial advice on social media to counter misinformation. Quotes: “This is possible for me. I am training to plant a seed,” Dr. Klontz Links: Dr. Klontz on TikTok: CLICK HERE Dr. Klontz's website: CLICK HERE

On Wall Street the S&P 500 and the Nasdaq suffer their worst week since March as a trio of Fed officials doubled down on ‘higher for longer' rate hike cycle signals. Chinese property giant Evergrande sees shares plunge after it announced it was unable to issue new debt due to an investigation into one of its subsidiaries. There has been a breakthrough in Hollywood between the writers' union and the major studios but in Detroit strikes have expanded with President Joe Biden set to join the picket lines tomorrow. European Trade Commissioner Valdis Dombrovskis has said that China could do more to improve Europe's perception of risk from the country but stresses that Brussels does not seek to decouple from Beijing. And in Spain, 40,000 people protest against plans by Prime Minister Pedro Sanchez to grant Catalan separatists amnesty.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Key happenings in the economy and world of finance:US government shutdown The Fed's new conundrum Wall Street's year in reviewECB plans to raise borrowing costsPrepare for the Central Bank marathon This week on FinWeekly, we tackle trends on key financial events that are shaping our current landscape: First up, House Speaker Kevin McCarthy's proposal to avoid a government shutdown by cutting domestic agency spending by 8%—we'll break down the potential impacts. Next, the Fed's facing a challenge as the U.S. economy isn't slowing down as expected despite interest rate hikes; we'll discuss why finding the right balance is critical. On Wall Street, experts are revisiting their predictions for the S&P 500 Index after underestimating this year's stock market rise. However, they're not calling it a bull market just yet. Economist Nouriel Roubini is sounding the alarm about rising oil prices potentially leading to stagflation in Europe. Lastly, a 36-hour central bank marathon involving 11 key players is underway, tackling complex monetary policy in a world with diverse inflation and economic challenges. Despite inflation concerns, markets are surprisingly confident in predicting policies, inflation rates, and bond yields. Trust that central banks are planning for the worst but hoping for the best as we navigate the rest of the week. Stay tuned for more updates and insights.Helpful links:Free 3-Day Trial! Enroll in the BYFIQ AcademyJoin Our Free CommunityApply to the Boost AcceleratorTrain your team with an on-site workshop Disclaimer:BYFIQ, LLC is a wholly owned entity of Coltivar Group, LLC. The views expressed here are those of the individual Coltivar Group, LLC (“Coltivar”) personnel quoted and are not the views of Coltivar or its affiliates. Certain information contained in here has been obtained from third-party sources. While taken from sources believed to be reliable, Coltivar has not independently verified such information and makes no representations about the enduring accuracy of the information or its appropriateness for a given situation.This content is provided for informational purposes only, and should not be relied upon as legal, business, investment, or tax advice. You should consult your own advisers as to those matters. References to any securities or digital assets are for illustrative purposes only, and do not constitute an investment recommendation or offer to provide investment advisory services. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendations. The Company is not affiliated with, nor does it receive compensation from, any specific security. Please see https://www.byfiq.com/terms-and-privacy-policy for additional important information.Support the show

Thirty years ago today, the very first exchange-traded fund started trading on the American Stock Exchange. At the time, Bill Clinton had just moved into the White House and America was trying on a new role as the world's lone superpower. On Wall Street, an entire industry soon realized that the ETF was a revolution all its own. Today, there are more than 3,000 ETFs listed in the US,  plus another 6,000 international ones, and together they hold $6.8 trillion in assets. In “The ETF Story,” a special six-episode series originally published five years ago, Eric and Joel explore the origins of the first ETF and how it's come to dominate investing. Among those interviewed are Jack Bogle, Kathleen Moriarty, Bob Toll, Howard Kramer, Rob Arnott, Dave Ritter, Reggie Browne, Dave Nadig, John O'Brien, Bruce Bond and more. Here's episode 1. On Monday Oct. 19, 1987, the stock market fell 23 percent, the worst day ever for stocks two times over. It was in the aftermath of that crash that the idea for exchange-traded funds was born. And it came from a very unlikely place: the U.S. Securities and Exchange Commission. See omnystudio.com/listener for privacy information.

This is Garrison Hardie with your CrossPolitic Daily Newsbrief for Thursday, November 3rd, 2022. Good to be back with you all, let’s get right into the news! https://www.cnbc.com/2022/11/02/fed-hikes-by-another-three-quarters-of-a-point-taking-rates-to-the-highest-level-since-january-2008.html Fed approves 0.75-point hike to take rates to highest since 2008 and hints at change in policy ahead The Federal Reserve on Wednesday approved a fourth consecutive three-quarter point interest rate increase and signaled a potential change in how it will approach monetary policy to bring down inflation. In a well-telegraphed move that markets had been expecting for weeks, the central bank raised its short-term borrowing rate by 0.75 percentage point to a target range of 3.75%-4%, the highest level since January 2008. The move continued the most aggressive pace of monetary policy tightening since the early 1980s, the last time inflation ran this high. Along with anticipating the rate hike, markets also had been looking for language indicating that this could be the last 0.75-point, or 75 basis point, move. The new statement hinted at that policy change, saying when determining future hikes, the Fed “will take into account the cumulative tightening of monetary policy, the lags with which monetary policy affects economic activity and inflation, and economic and financial developments.” Economists are hoping this is the much talked about “step-down” in policy that could see a rate increase of half a point at the December meeting and then a few smaller hikes in 2023. This week’s statement also expanded on previous language simply declaring that “ongoing increases in the target range will be appropriate.“ The new language read, “The Committee anticipates that ongoing increases in the target range will be appropriate in order to attain a stance of monetary policy that is sufficiently restrictive to return inflation to 2 percent over time.” Stocks initially rose following the announcement, but turned negative during Chairman Jerome Powell’s news conference as the market tried to gauge whether the Fed thinks it can implement a less restrictive policy that would include a slower pace of rate hikes to achieve its inflation goals. On balance, Powell dismissed the idea that the Fed may be pausing soon though he said he expects a discussion at the next meeting or two about slowing the pace of tightening. He also reiterated that it may take resolve and patience to get inflation down. The rate increase comes as recent inflation readings show prices remain near 40-year highs. A historically tight jobs market in which there are nearly two openings for every unemployed worker is pushing up wages, a trend the Fed is seeking to head off as it tightens money supply. Concerns are rising that the Fed, in its efforts to bring down the cost of living, also will pull the economy into recession. Powell has said he still sees a path to a “soft landing” in which there is not a severe contraction, but the U.S. economy this year has shown virtually no growth even as the full impact from the rate hikes has yet to kick in. At the same time, the Fed’s preferred inflation measure showed the cost of living rose 6.2% in September from a year ago – 5.1% even excluding food and energy costs. GDP declined in both the first and second quarters, meeting a common definition of recession, though it rebounded to 2.6% in the third quarter largely because of an unusual rise in exports. At the same time, housing demand has plunged as 30-year mortgage rates have soared past 7% in recent days. On Wall Street, markets have been rallying in anticipation that the Fed soon might start to ease back as worries grow over the longer-term impact of higher rates. The Dow Jones Industrial Average has gained more than 13% over the past month, in part because of an earnings season that wasn’t as bad as feared but also due to growing hopes for a recalibration of Fed policy. Treasury yields also have come off their highest levels since the early days of the financial crisis, though they remain elevated. The benchmark 10-year note most recently was around 4.09%. There is little if any expectation that the rate hikes will halt anytime soon, so the anticipation is just for a slower pace. Futures traders are pricing a near coin-flip chance of a half-point increase in December, against another three-quarter point move. https://thepostmillennial.com/bidens-cdc-replaces-word-woman-with-pregnant-person-in-flu-vaccine-guidance?utm_campaign=64487 Biden's CDC replaces word 'woman' with 'pregnant person' in flu vaccine guidance The US Centers for Disease Control (CDC) has removed the word woman from sections of its safety guidance on flu vaccines during pregnancy. According to the Daily Mail, gendered terms such as woman, women, mother and she/her pronouns were all erased from the Q & A section of the Flu Vaccine Safety and Pregnancy page in August of last year. The words were replaced with gender-neutral language such as “pregnant people” and the gender-neutral pronoun “their.” However, the words woman and mother still appear in other sections of the CDC website, such as the Vaccines During Pregnancy FAQ page. “Influenza is more likely to cause severe illness in pregnant people,” says the CDC. “Flu shots given during pregnancy help protect the ‘pregnant parent’ and the baby from flu.” Those advocating for the use of gender-neutral language in the healthcare setting argue that the intention is to ensure that everyone feels included. So for example because a tiny number of females who identify as men may become pregnant, the word woman should be removed from maternity care to include them. But feminist campaigners have suggested that the so-called inclusive language only appears to go one way. Ovarian cancer apparently now affects “people” not women, but prostate cancer still affects men. Healthline referred to “men” and “vulva-owners” last year on its HPV information pages. Meanwhile, MedicineNet.com kept the definition of male as “the sex that produces spermatozoa” but redefined female as being a complicated mix of chromosomal anomalies and gender identity. This has led some to speculate that this new inclusive language is not so much about being inclusive of everybody and more about ensuring that the word woman is never used in a way that excludes males who identify as women, while at the same time not reminding those males of their biology. New Saint Andrews: Today’s culture shifts like sand. But New Saint Andrews College is established on Christ, the immovable rock. It is a premier institution that forges evangelical leaders who don’t fear or hate the world. Guided by God’s Word, they take the world back because they’re equipped with the genius of classical liberal arts and God-honoring wisdom, thanks to a faculty dedicated to academic rigor and to God’s kingdom.Find out more, at nsa.edu/ https://justthenews.com/nation/economy/facebook-stock-down-70-down-800-billion-market-cap-year-nears-end Investors reportedly disgruntled as Facebook stock down 70%, company out $800 billion in market cap Investors in Facebook parent company Meta are reportedly growing dissatisfied with the company's fixation on the "metaverse" as the corporations' stock continues to plunge and its market capitalization continues a long slide. The company has seen its stock plummet throughout 2022, shedding more than 70% of its value from the start of the year as it fell from over $330 per share in January to nearly $90 per share this week. The company's market cap has also plunged from its high last year, dropping from just over $1 trillion in August of 2021 to under $250 billion in November. Investors, meanwhile, are reported to be unhappy with the company's business direction, specifically founder Mark Zuckerberg's fixation on the virtual reality "metaverse," a project that has generated relatively little excitement outside of esoteric tech circles. Jim Tierney, an investment officer for Meta shareholder AllianceBernstein, told the Financial Times that, had any other company plowed so much money into a strategically dubious project, "you’d have activist investors writing letters, proposing alternative slates of directors, demanding change." David Older, an asset manager at Carmignac, claimed that Zuckerberg has been "tone-deaf to the investment community, doubling down on everything." “The timeline for the metaverse is very stretched. I don’t think you’re going to know if it is the right move for five or 10 years," he told FT. Meta, meanwhile, told FT that the company "value[s] the opinions of our investors and regularly engage with them to ensure we’re aware of their respective perspectives.” https://www.foxnews.com/us/kansas-woman-helmed-female-isis-battalion-sentenced-20-years-prison Kansas woman who helmed female ISIS battalion sentenced to 20 years in prison Allison Fluke-Ekren, a 42-year-old woman who grew up on a farm in Overbrook, Kansas, was sentenced to two decades in prison on Tuesday for leading the Khatiba Nusaybah, an all-female ISIS battalion in Raqqa, Syria. Fluke-Ekren's own children asked the judge to hand down the maximum sentence, 20 years, during victim impact statements at the hearing. Fluke-Ekren tearfully spoke to the judge before her sentencing. "I deeply regret my choices, but I also deeply sympathize with women abused and raped in Syria." In a plea deal made with the government, Fluke-Ekren admitted she translated and analyzed documents taken from the U.S. Consulate in Benghazi, Libya, after the terrorist attack on the facility in 2012. She tried to explain to the court some of her actions during the seven years she spent in Syria. "I was afraid of my conduct in Benghazi. I just didn’t see a way out." Fluke-Ekren also stressed that for most of her time in Syria, she had been just a mother, caring for her several children as well as other children and their mothers. Federal Judge Leonie Brinkema said she did not find Fluke-Ekren’s claims "wholly credible," saying she had "downplayed the impact" of her role in the Benghazi attack. The judge continued, "There’s no question you were providing material support for a terrorist organization," and emphasized several times during the hearing that was the crime for which Fluke-Ekren would be sentenced. Earlier in the sentencing hearing, two of Fluke-Ekren’s adult children gave emotional statements against their mother. Layla Ekren was visibly trembling in court for nearly an hour before she got her chance to tell Brinkema that her mother abused her as a child. She told the court about one instance in Syria when the family had lice, and her mother held her down on the ground and poured the medicine on her eyes in an apparent attempt to blind her. First Assistant U.S. Attorney Raj Parekh laid out the allegations against Fluke-Ekren in a sentencing memo, writing that she urged a woman to commit a suicide bombing and told others that her oldest son was born after she was raped by an American soldier as a way to gain favor with other terrorists. https://justthenews.com/world/middle-east/united-nations-orders-israel-get-rid-nuclear-weapons United Nations calls on Israel to get rid of nuclear weapons The United Nations General Assembly has passed a resolution calling on Israel to dispose of all of its alleged nuclear weapons and to put its nuclear sites under the jurisdiction of the International Atomic Energy Agency. The resolution, led by the UN's First Committee, which deals with nuclear disarmament, passed 152-5 over the weekend. Egypt submitted the resolution to the General Assembly in New York with sponsors including the Palestinian Authority and 19 countries including Morocco and the United Arab Emirates, the Jerusalem Post reported. The five countries that opposed the resolution were Canada, Israel, Micronesia, Palau and the United States. Twenty-four countries including European Union members, abstained from the vote. Israel has never admitted to having nuclear weapons but is widely believed to have them. Israel is one of the few U.N. member states that has not signed the Non-Proliferation of Nuclear Weapons Treaty. Iran is a signatory on the treaty, but international authorities believe that Tehran may already possess nuclear weapons. The resolution, on the "risk of nuclear proliferation in the Middle East," did not include Iran. The resolution calls on Israel "to accede to the Treaty without further delay, not to develop, produce, test or otherwise acquire nuclear weapons, to renounce possession of nuclear weapons and to place all its unsafe guarded nuclear facilities under the full scope of Agency safeguards as an important confidence-building measure among all States of the region and as a step toward enhancing peace and security." https://news.yahoo.com/dwyane-wades-ex-wife-fears-175220499.html Dwyane Wade's Ex-Wife Fears He's 'Pressuring' Zaya Into Name And Gender Change For Financial Gain Dwyane Wade’s ex-wife, Siohvaughn Funches-Wade, the star’s first wife and mother of his two oldest children, filed paperwork this week asking a judge to postpone their daughter Zaya’s sex change until she’s 18. In Funches-Wade plea to the judge, she claims the NBA star is exploiting their daughter for financial income. According to The Blast, Funches-Wade has sentiments about Zaya being pressured into the permanent change by Dwayne. “I have concerns that (Dwyane) may be pressuring our child to move forward with the name and gender change in order to capitalize on the financial opportunities that he has received from companies,” she said in her legal filing. The filing was in response to an August petition by Dwayne asking permission for Zaya to legally change her name from Zion Malachi Airamis Wade to Zaya Malachi Airamis Wade. Zaya came out as transgender in 2020 at the age of 12. Dwayne’s argument concerning his ex-wife’s petition was acknowledging that he is the legal guardian of their children and has the legal right to make decisions on his daughter’s behalf. Funch-Wade says during a conversation in April, Dwayne told her “a lot of money had been already made, and that additional money will be made in relation to our child’s name and gender issue.” Funch-Wade alleges her ex-husband only informs her of their children’s life choices out of ‘courtesy’ but states she wants to be hands-on in all decisions affecting the children. She also claims he is legally required to consult her on “major decisions affecting care, welfare, activities, health, education and religious upbringing.” Funch-Wade and Dwayne will have a hearing in December to determine whether Zaya can change her name and sex without her agreement.

This is Garrison Hardie with your CrossPolitic Daily Newsbrief for Thursday, November 3rd, 2022. Good to be back with you all, let’s get right into the news! https://www.cnbc.com/2022/11/02/fed-hikes-by-another-three-quarters-of-a-point-taking-rates-to-the-highest-level-since-january-2008.html Fed approves 0.75-point hike to take rates to highest since 2008 and hints at change in policy ahead The Federal Reserve on Wednesday approved a fourth consecutive three-quarter point interest rate increase and signaled a potential change in how it will approach monetary policy to bring down inflation. In a well-telegraphed move that markets had been expecting for weeks, the central bank raised its short-term borrowing rate by 0.75 percentage point to a target range of 3.75%-4%, the highest level since January 2008. The move continued the most aggressive pace of monetary policy tightening since the early 1980s, the last time inflation ran this high. Along with anticipating the rate hike, markets also had been looking for language indicating that this could be the last 0.75-point, or 75 basis point, move. The new statement hinted at that policy change, saying when determining future hikes, the Fed “will take into account the cumulative tightening of monetary policy, the lags with which monetary policy affects economic activity and inflation, and economic and financial developments.” Economists are hoping this is the much talked about “step-down” in policy that could see a rate increase of half a point at the December meeting and then a few smaller hikes in 2023. This week’s statement also expanded on previous language simply declaring that “ongoing increases in the target range will be appropriate.“ The new language read, “The Committee anticipates that ongoing increases in the target range will be appropriate in order to attain a stance of monetary policy that is sufficiently restrictive to return inflation to 2 percent over time.” Stocks initially rose following the announcement, but turned negative during Chairman Jerome Powell’s news conference as the market tried to gauge whether the Fed thinks it can implement a less restrictive policy that would include a slower pace of rate hikes to achieve its inflation goals. On balance, Powell dismissed the idea that the Fed may be pausing soon though he said he expects a discussion at the next meeting or two about slowing the pace of tightening. He also reiterated that it may take resolve and patience to get inflation down. The rate increase comes as recent inflation readings show prices remain near 40-year highs. A historically tight jobs market in which there are nearly two openings for every unemployed worker is pushing up wages, a trend the Fed is seeking to head off as it tightens money supply. Concerns are rising that the Fed, in its efforts to bring down the cost of living, also will pull the economy into recession. Powell has said he still sees a path to a “soft landing” in which there is not a severe contraction, but the U.S. economy this year has shown virtually no growth even as the full impact from the rate hikes has yet to kick in. At the same time, the Fed’s preferred inflation measure showed the cost of living rose 6.2% in September from a year ago – 5.1% even excluding food and energy costs. GDP declined in both the first and second quarters, meeting a common definition of recession, though it rebounded to 2.6% in the third quarter largely because of an unusual rise in exports. At the same time, housing demand has plunged as 30-year mortgage rates have soared past 7% in recent days. On Wall Street, markets have been rallying in anticipation that the Fed soon might start to ease back as worries grow over the longer-term impact of higher rates. The Dow Jones Industrial Average has gained more than 13% over the past month, in part because of an earnings season that wasn’t as bad as feared but also due to growing hopes for a recalibration of Fed policy. Treasury yields also have come off their highest levels since the early days of the financial crisis, though they remain elevated. The benchmark 10-year note most recently was around 4.09%. There is little if any expectation that the rate hikes will halt anytime soon, so the anticipation is just for a slower pace. Futures traders are pricing a near coin-flip chance of a half-point increase in December, against another three-quarter point move. https://thepostmillennial.com/bidens-cdc-replaces-word-woman-with-pregnant-person-in-flu-vaccine-guidance?utm_campaign=64487 Biden's CDC replaces word 'woman' with 'pregnant person' in flu vaccine guidance The US Centers for Disease Control (CDC) has removed the word woman from sections of its safety guidance on flu vaccines during pregnancy. According to the Daily Mail, gendered terms such as woman, women, mother and she/her pronouns were all erased from the Q & A section of the Flu Vaccine Safety and Pregnancy page in August of last year. The words were replaced with gender-neutral language such as “pregnant people” and the gender-neutral pronoun “their.” However, the words woman and mother still appear in other sections of the CDC website, such as the Vaccines During Pregnancy FAQ page. “Influenza is more likely to cause severe illness in pregnant people,” says the CDC. “Flu shots given during pregnancy help protect the ‘pregnant parent’ and the baby from flu.” Those advocating for the use of gender-neutral language in the healthcare setting argue that the intention is to ensure that everyone feels included. So for example because a tiny number of females who identify as men may become pregnant, the word woman should be removed from maternity care to include them. But feminist campaigners have suggested that the so-called inclusive language only appears to go one way. Ovarian cancer apparently now affects “people” not women, but prostate cancer still affects men. Healthline referred to “men” and “vulva-owners” last year on its HPV information pages. Meanwhile, MedicineNet.com kept the definition of male as “the sex that produces spermatozoa” but redefined female as being a complicated mix of chromosomal anomalies and gender identity. This has led some to speculate that this new inclusive language is not so much about being inclusive of everybody and more about ensuring that the word woman is never used in a way that excludes males who identify as women, while at the same time not reminding those males of their biology. New Saint Andrews: Today’s culture shifts like sand. But New Saint Andrews College is established on Christ, the immovable rock. It is a premier institution that forges evangelical leaders who don’t fear or hate the world. Guided by God’s Word, they take the world back because they’re equipped with the genius of classical liberal arts and God-honoring wisdom, thanks to a faculty dedicated to academic rigor and to God’s kingdom.Find out more, at nsa.edu/ https://justthenews.com/nation/economy/facebook-stock-down-70-down-800-billion-market-cap-year-nears-end Investors reportedly disgruntled as Facebook stock down 70%, company out $800 billion in market cap Investors in Facebook parent company Meta are reportedly growing dissatisfied with the company's fixation on the "metaverse" as the corporations' stock continues to plunge and its market capitalization continues a long slide. The company has seen its stock plummet throughout 2022, shedding more than 70% of its value from the start of the year as it fell from over $330 per share in January to nearly $90 per share this week. The company's market cap has also plunged from its high last year, dropping from just over $1 trillion in August of 2021 to under $250 billion in November. Investors, meanwhile, are reported to be unhappy with the company's business direction, specifically founder Mark Zuckerberg's fixation on the virtual reality "metaverse," a project that has generated relatively little excitement outside of esoteric tech circles. Jim Tierney, an investment officer for Meta shareholder AllianceBernstein, told the Financial Times that, had any other company plowed so much money into a strategically dubious project, "you’d have activist investors writing letters, proposing alternative slates of directors, demanding change." David Older, an asset manager at Carmignac, claimed that Zuckerberg has been "tone-deaf to the investment community, doubling down on everything." “The timeline for the metaverse is very stretched. I don’t think you’re going to know if it is the right move for five or 10 years," he told FT. Meta, meanwhile, told FT that the company "value[s] the opinions of our investors and regularly engage with them to ensure we’re aware of their respective perspectives.” https://www.foxnews.com/us/kansas-woman-helmed-female-isis-battalion-sentenced-20-years-prison Kansas woman who helmed female ISIS battalion sentenced to 20 years in prison Allison Fluke-Ekren, a 42-year-old woman who grew up on a farm in Overbrook, Kansas, was sentenced to two decades in prison on Tuesday for leading the Khatiba Nusaybah, an all-female ISIS battalion in Raqqa, Syria. Fluke-Ekren's own children asked the judge to hand down the maximum sentence, 20 years, during victim impact statements at the hearing. Fluke-Ekren tearfully spoke to the judge before her sentencing. "I deeply regret my choices, but I also deeply sympathize with women abused and raped in Syria." In a plea deal made with the government, Fluke-Ekren admitted she translated and analyzed documents taken from the U.S. Consulate in Benghazi, Libya, after the terrorist attack on the facility in 2012. She tried to explain to the court some of her actions during the seven years she spent in Syria. "I was afraid of my conduct in Benghazi. I just didn’t see a way out." Fluke-Ekren also stressed that for most of her time in Syria, she had been just a mother, caring for her several children as well as other children and their mothers. Federal Judge Leonie Brinkema said she did not find Fluke-Ekren’s claims "wholly credible," saying she had "downplayed the impact" of her role in the Benghazi attack. The judge continued, "There’s no question you were providing material support for a terrorist organization," and emphasized several times during the hearing that was the crime for which Fluke-Ekren would be sentenced. Earlier in the sentencing hearing, two of Fluke-Ekren’s adult children gave emotional statements against their mother. Layla Ekren was visibly trembling in court for nearly an hour before she got her chance to tell Brinkema that her mother abused her as a child. She told the court about one instance in Syria when the family had lice, and her mother held her down on the ground and poured the medicine on her eyes in an apparent attempt to blind her. First Assistant U.S. Attorney Raj Parekh laid out the allegations against Fluke-Ekren in a sentencing memo, writing that she urged a woman to commit a suicide bombing and told others that her oldest son was born after she was raped by an American soldier as a way to gain favor with other terrorists. https://justthenews.com/world/middle-east/united-nations-orders-israel-get-rid-nuclear-weapons United Nations calls on Israel to get rid of nuclear weapons The United Nations General Assembly has passed a resolution calling on Israel to dispose of all of its alleged nuclear weapons and to put its nuclear sites under the jurisdiction of the International Atomic Energy Agency. The resolution, led by the UN's First Committee, which deals with nuclear disarmament, passed 152-5 over the weekend. Egypt submitted the resolution to the General Assembly in New York with sponsors including the Palestinian Authority and 19 countries including Morocco and the United Arab Emirates, the Jerusalem Post reported. The five countries that opposed the resolution were Canada, Israel, Micronesia, Palau and the United States. Twenty-four countries including European Union members, abstained from the vote. Israel has never admitted to having nuclear weapons but is widely believed to have them. Israel is one of the few U.N. member states that has not signed the Non-Proliferation of Nuclear Weapons Treaty. Iran is a signatory on the treaty, but international authorities believe that Tehran may already possess nuclear weapons. The resolution, on the "risk of nuclear proliferation in the Middle East," did not include Iran. The resolution calls on Israel "to accede to the Treaty without further delay, not to develop, produce, test or otherwise acquire nuclear weapons, to renounce possession of nuclear weapons and to place all its unsafe guarded nuclear facilities under the full scope of Agency safeguards as an important confidence-building measure among all States of the region and as a step toward enhancing peace and security." https://news.yahoo.com/dwyane-wades-ex-wife-fears-175220499.html Dwyane Wade's Ex-Wife Fears He's 'Pressuring' Zaya Into Name And Gender Change For Financial Gain Dwyane Wade’s ex-wife, Siohvaughn Funches-Wade, the star’s first wife and mother of his two oldest children, filed paperwork this week asking a judge to postpone their daughter Zaya’s sex change until she’s 18. In Funches-Wade plea to the judge, she claims the NBA star is exploiting their daughter for financial income. According to The Blast, Funches-Wade has sentiments about Zaya being pressured into the permanent change by Dwayne. “I have concerns that (Dwyane) may be pressuring our child to move forward with the name and gender change in order to capitalize on the financial opportunities that he has received from companies,” she said in her legal filing. The filing was in response to an August petition by Dwayne asking permission for Zaya to legally change her name from Zion Malachi Airamis Wade to Zaya Malachi Airamis Wade. Zaya came out as transgender in 2020 at the age of 12. Dwayne’s argument concerning his ex-wife’s petition was acknowledging that he is the legal guardian of their children and has the legal right to make decisions on his daughter’s behalf. Funch-Wade says during a conversation in April, Dwayne told her “a lot of money had been already made, and that additional money will be made in relation to our child’s name and gender issue.” Funch-Wade alleges her ex-husband only informs her of their children’s life choices out of ‘courtesy’ but states she wants to be hands-on in all decisions affecting the children. She also claims he is legally required to consult her on “major decisions affecting care, welfare, activities, health, education and religious upbringing.” Funch-Wade and Dwayne will have a hearing in December to determine whether Zaya can change her name and sex without her agreement.