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Should You Move While You Can, Or When You Must?

Should You Move While You Can, Or When You Must? Authored by Charles Hugh Smith via OfTwoMinds blog, This gives an extreme advantage to those few who move first, long before they must. The financial advantage for first movers is equally extreme. Moving is a difficult decision, so we hesitate. But when the window to do so closes, it's too late. We always think we have all the time in the world to ponder, calculate and explore, and then things change and the options we once had are gone for good. Moving to a new locale is difficult for those of us who are well-established in the place we call home. Add in a house we love, jobs/work, kids in school, a parent living with us and all the emotional attachments to friends, extended family, colleagues and favorite haunts, and for many (and likely most) people, moving is out of the question. Many of us have fond memories of moving when we were in our late teens or early 20s--everything we owned fit in the backseat and trunk of a beaten up old car, and off we went. Once you put down roots in a home, work/enterprise, schools, neighborhood and networks, it's a herculean task to move. Moving to another state or province isn't just a matter of the physical movement of possessions and buying / renting a new dwelling, itself an arduous process; the transfer of medical and auto insurance, finding new dentists and doctors, opening local bank/credit union accounts, obtaining local business licenses and a staggering list of institutions and enterprises that require an address change is complicated and time-consuming. Knowing this, I don't ask this question lightly: Should You Move While You Can, Or When You Must? The question is consequential because the window in which we still have options can slam shut with little warning. The origin of the question will be visible to those who have read my blog posts in 2021 on systemic fragility, our dependence on long, brittle supply chains, the vulnerabilities created by these dependencies and my polite (I hope) suggestions to fashion not just a Plan B for temporary disruptions but a Plan C for permanent disruptions. My new book Global Crisis, National Renewal: A (Revolutionary) Grand Strategy for the United States is a result of realities few are willing to face: the extreme inequality we now have in the U.S. leads to social collapse. That's the lesson of history. So to believe as if collapse is impossible is to ignore the evidence that social collapse is inevitable when inequality reaches extremes. Human and nature dynamics (HANDY): Modeling inequality and use of resources in the collapse or sustainability of societies. Social collapse has consequences, and so we have to ask: where do we want to be in the vast human herd when social order unravels? My new book also addresses the transition that's obvious but easily denied: we've transitioned from an era of abundance to an era of scarcity. There are many historical examples of what happens as scarcity diminishes living standards and puts increasing stress on individuals, families, communities and nations. There are ways to adapt to scarcity (that's the point of my book) but nation-states and the elites who run them are optimized for abundance, not scarcity, so they lack the means to adapt to scarcity. Their default setting to is keep pursuing a return to higher consumption ("growth") by increasingly extreme means--for example, printing trillions of dollars and giving it to wealthy elites and corporations, and printing additional trillions to give away as bread and circuses (stimulus) to the masses. There is no historical evidence that this vast, endless creation of currency is consequence-free or successful. This delusional pursuit of endless "growth" that is no longer possible due to resource depletion and soaring costs of extraction, transport, etc. also leads to collapse. This is the modern-day equivalent of squandering the last resources available on ever-more elaborate (and completely unproductive) temples in the hopes of appeasing the gods of "growth." As I also detail in the book, the status quo is fantastically wasteful and ineffective. It now takes 20-25 years to build a single bridge or tunnel, and each project is billions of dollars over budget, yet we're assured that the entire nation will seamlessly and painlessly transition away from hydrocarbon fuels to alternative energy in 20-25 years. Never mind that this would require building a new nuclear plant or equivalent every month for the next 20 years; skeptics are just naysayers. While a successful transition to a degrowth economy and society is certainly physically possible, the current status quo lacks the will, structure, leadership or desire to manage such a transition. While no one is entirely independent of long supply chains and energy-intensive industrial economies, the lower one's dependency and one's exposure to the risks of social disorder, the better off one will be. Put another way, the greater one's self-reliance and independence from global supply chains, the lower the impact should things break down. The closer one is to local sources of energy, fresh water, food, etc., the lower the likelihood of losing all access to these essentials. The wealthiest few hedge their risks by having one or more homes they can escape to if urban life breaks down. When risks rise, the wealthy start buying rural homes sight unseen for double the price locals paid a few months earlier. Here's the problem: roughly 81% of Americans live in urban zones (270 million people), and around 19% (60 million people) live in rural areas. About 31% of urban residents live in dense urban cores, about 25% live in suburban counties and the remaining 24% live in urban clusters and metropolitan areas--smaller cities, etc. Rural regions have plenty of land but relatively few dwellings due to the low population density. Much of the land is owned by government agencies, corporations or large landowners, so a relatively small percentage is available for housing. Many rural economies have stagnated for decades, so the housing stock has not grown by much and older homes have deteriorated due to being abandoned or poorly maintained. Few building contractors survived the stagnation and so finding crews to build a new home is also non-trivial. So when the wealthiest few rush out to buy second or third homes in desirable rural areas in Idaho, Montana, Utah, Colorado, North Carolina, etc., they find a very restricted supply of homes available. This generates a bidding war for the relatively few homes considered acceptable and prices skyrocket, pricing out locals who soon resent the wealthy newcomers' financial power and fear the inevitable rise of the political and commercial power their wealth can buy. (Cough, billgates, cough.) At present, few anticipate urban America becoming a dicey place to live and own a home. But inequality and the hollowing out of the economy by globalization and financialization has left cities entirely dependent on diesel fueled trucks to deliver virtually everything. This is also true of rural communities, of course, but some rural areas still produce energy and food, and given the lower population density, these communities are less dependent on global supply chains and are therefore more self-sufficient. Rural households have more opportunities to raise animals, grow vegetables, etc., and more opportunities to have supportive relationships with neighbors who actually produce something tangible and essential. Dependence is a matter of scale: if you can get by on 5 gallons of gasoline a month, you're much more likely to put your hands on enough fuel to get by than if you need a minimum of 50 gallons of fuel to survive. The same is true of food, fresh water and other essentials: the less you need, the more you supply yourself, the lower your vulnerability to supply disruptions. Lower population densities lend themselves to greater self-sufficiency / resilience and to community cohesion. Roving mobs are less likely to form simply because the low density makes such mobs difficult to assemble. As I explain in my book, social cohesion is a combination of civic virtue, shared purpose, agency (having a stake in the local economy and a say in decisions which affect everyone) and moral legitimacy, i.e. a community that isn't divided into a self-serving elite that owns the vast majority of the wealth, capital and political power and a relatively powerless majority (i.e. debt-serfs and tax donkeys). In my analysis, social cohesion in most urban zones has already eroded to the point of no return. The tattered remnants will crumble with one swift kick. The conventional view is the urban populace will continue to grow at the expense of rural regions, a trend that's been in place for hundreds of years. But this trend exactly parallels the rise of hydrocarbon energy. Large cities existed long before hydrocarbon energy, but these cities arose and fell depending on the availability of essential resources within reach. Imperial Rome, for example, likely had 1 million residents at the apex of its power, residents who were largely dependent on grain grown in North African colonies and shipped across the Mediterranean to Rome's port of Ostia. Once those wheat-exporting colonies were lost, Rome's population fell precipitously, reaching a nadir of perhaps 10,000 residents living amidst the ruins of a once great metropolis. More recently, economic and social shifts hollowed out many city cores in the 1970s as residents and jobs moved to the suburbs. A reversal of this trend in favor of small cities/towns and rural areas may already be gathering momentum under the radar. All this is abstract until the attractions of city living fade and economic vitality declines to the point of civic and financial bankruptcy. Cities have cycles of expansion, decay and decline just like societies and economies, and it behooves us to monitor the fragility, dependency and risk of the place we inhabit. At nadirs, homes and buildings that were once worth a fortune are abandoned, or their value drops to a fraction of its former value. Putting these dynamics together, the problem boils down to a systemic scarcity of housing in attractive, productive rural towns and regions and a massive oversupply of urban residents who may decide to move once urban zones unravel. Let's assume that a mere 5% of urban residents decamp for rural regions. Given that there are about 130 million households in the U.S. and 81% of that total is 105 million households, 5% is 5.25 million households. Given that the number of rural communities that have all the desirable characteristics is not that large, we can estimate that it might be difficult for even 500,000 urban households to relocate to their first choice, never mind 5 million. This gives an extreme advantage to those few who move first, long before they must. The financial advantage for first movers is equally extreme, as they can still sell their urban homes for a great deal more money than they will fetch once conditions deteriorate. (The value of homes can drop to zero, as Detroit has shown.) Those few who decide to join the early movers even though the difficulties are many have all the advantages. Those who wait until conditions slip off a cliff may find their once valuable home has lost most or all of its value and the communities they would have chosen are out of reach financially. Most people reckon they have plenty of time to act--decades, or at least many years. The problem with systemic fragility was aptly described by Seneca: "Increases are of sluggish growth but the way to ruin is rapid." My own expectation is a self-reinforcing unraveling that gathers momentum to breaking points by 2024-25, only a few years away. Rather than fix the systemic problems of inequality and scarcity, the status quo's expedient fixes (printing trillions out of thin air and hoping there will be no adverse consequences from distributing free money to financiers and bread and circuses) will only accelerate the unraveling. There may not be as much time as we think. New readers pondering these dynamics may find value in one of the more widely read of my essays, The Art of Survival, Taoism and the Warring States (June 27, 2008) which discusses the importance of being a helpful and productive member of a tight-knit community and the futility of having an isolated "bug-out" cabin as Plan C. The vista of solid ground stretching endlessly to the horizon may turn out to be a mirage, and the cliff edge is closer than we imagine. *  *  * This essay was first published as a weekly Musings Report sent exclusively to subscribers and patrons at the $5/month ($54/year) and higher level. Thank you, patrons and subscribers, for supporting my work and free website.. My new book is now available at a 20% discount this month: Global Crisis, National Renewal: A (Revolutionary) Grand Strategy for the United States (Kindle $8.95, print $20). If you found value in this content, please join me in seeking solutions by becoming a $1/month patron of my work via patreon.com. Tyler Durden Sun, 01/16/2022 - 11:31.....»»

Category: smallbizSource: nytJan 16th, 2022

SpaceX"s Starlink launches $135-a-month internet service for RVs

The company is rolling out an extra $25 monthly fee for relocating satellite dishes. The users will be able to pause and restart at any time. Elon Musk's (pictured right) SpaceX is increasing Starlink internet prices for all customers.Nina Lyashonok/ Ukrinform/Future Publishing/Theo Wargo/Getty Images for TIME SpaceX unveiled a Starlink service option designed to cater to RV owners. It costs an extra $25 a month for customers to relocate their satellite dishes. The new option will not be able to be used while the vehicle is in motion and service is not guaranteed. SpaceX announced this week that it is launching a Starlink internet service option designed with RV owners in mind.The company is rolling out an optional $25 monthly fee for customers who want to relocate their satellite dishes, CNBC's Michael Sheetz first reported. The extra cost will be added on to the Starlink base service price of $110 per month and will be billed in one-month increments. The users will be able to pause and restart their service at any time.However, the company says that the internet service will not be active while the RV is in motion and will be limited to an "as-needed basis at any destination where Starlink provides active coverage," according to a press release."Starlink prioritizes network resources for users at their registered service address. When you bring your Starlink to a new location, this prioritization may result in degraded service, particularly at times of peak usage or network congestion," SpaceX said, according to an email to customers that was obtained by CNBC.SpaceX CEO Elon Musk has said in the past that the company is working to make it possible to use the service while in motion. It is unclear if users will have to sign up for the service or if SpaceX will begin charging all users who attempt to move their satellite dish.Some RVers have already been using Starlink for WiFi on the road. Cyberlandr, a startup building RV attachments for the upcoming Cybertruck, has also said it'll include a Starlink satellite dish in its build. Besides Starlink, digital nomads often use mobile hotspots for WiFi access while some RV makers and rental companies already offer WiFi routers in its vans.In March, SpaceX said it has a userbase of about 250,000 subscribers across 25 countries. The company has a network of about 2,000 satellite in Earth's lower orbit. The service is designed to deliver high-speed internet of up to 100 Mbps to 200 Mbps to customers in rural areas.Read the original article on Business Insider.....»»

Category: topSource: businessinsider1 hr. 51 min. ago

Dow climbs more than 600 points, U.S. stocks end sharply higher as Wall Street banks jump

All three major stock benchmarks ended sharply higher Monday, kicking off the week with gains as shares in the financials sector jumped. The Dow Jones Industrial Average closed up almost 619 points, or about 2%, while the S&P 500 climbed around 1.9% and the Nasdaq Composite rose about 1.6%, according to preliminary FactSet data. The financials sector booked the biggest gains in the S&P 500 index, rising around 3.2% Monday, as Wall Street banks JPMorgan Chase & Co. and Citigroup Inc. each jumped around 6%, preliminary FactSet data show. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news......»»

Category: topSource: marketwatch3 hr. 4 min. ago

Lithium producer Albemarle ups 2022 guidance on higher contract prices

Lithium producer Albemarle Corp. late Monday upgraded its guidance for the year, mostly thanks to additional lithium contract renegotiations following blowout first-quarter earnings earlier this month. Albemarle said it expects fiscal 2022 sales between $5.8 billion and $6.2 billion, compared with a prior guidance of sales between $5.2 billion and $5.6 billion, and adjusted per-share earnings between $12.30 and $15, from $9.25 to $12.25 a share. It kept expectations for cash expenditures the same, between $1.3 billion and $1.5 billion. The company expects average realized pricing for lithium to be up about 140% year-over-year from variable-price contracts and increased market pricing, it said. Volume is expected to be up between 20% and 30% due to new capacity, unchanged from the previous outlook, the company said. Shares of Albemarle rose 0.5% in the extended session Monday after ending the regular trading day up 2.8%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news......»»

Category: topSource: marketwatch3 hr. 4 min. ago

Advance Auto Parts sees "headwinds" from cooler, wet spring

Advance Auto Parts Inc. shares fell slightly more than 1% in the extended session Monday after the specialty retailer reported lower-than-expected adjusted profit in the first quarter. Advance Auto Parts earned $140 million, or $2.26 a share, in the quarter, compared with $186 million, or $2.81 a share, in the year-ago quarter. Adjusted for one-time items, the company earned $3.57 a share. Sales rose 1.3% to $3.4 billion. Analysts polled by FactSet expected adjusted earnings of $3.59 a share on sales of $3.4 billion. Advance Auto Parts said that sales were weaker in the final six weeks of the quarter, mostly thanks to "headwinds" from an expected lap of the DIY sales boost from the 2021 stimulus checks as well as a slower start to the spring selling season due to cooler temperatures and rainy weather. "These headwinds have subsided during the first four weeks of our second quarter with comparable sales growth within our full-year guidance range," it said. The company kept its 2022 guidance intact, including expectations of sales between $11.2 billion and $11.5 billion, and adjusted per-share earnings between $13.30 and $13.85. Shares of Advance Auto Parts ended the regular trading day up 0.7%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news......»»

Category: topSource: marketwatch3 hr. 4 min. ago

Monkeypox Outbreak Primarily Spreading Via Sexual Contact: WHO Officials

Monkeypox Outbreak Primarily Spreading Via Sexual Contact: WHO Officials Authored by Jack Phillips via The Epoch Times (emphasis ours), The recent outbreak of the monkeypox virus in North America and Europe is primarily spreading through sex, according to World Health Organization (WHO) officials on Monday, while confirming about 200 cases so far. The virus itself is not a sexually transmitted infection, but WHO officials said the recent surge in cases is linked to homosexual men. However, they said that anyone can contract monkeypox, which is generally confined to Central and West Africa. “We’ve seen a few cases in Europe over the last five years, just in travelers, but this is the first time we’re seeing cases across many countries at the same time in people who have not traveled to the endemic regions in Africa,” Dr. Rosamund Lewis, who runs WHO’s smallpox research, said in a streaming event on social media. So far, the United States has confirmed at least two cases and a third suspected case is being investigated by officials in Florida. The cases have been reported in New York City and Massachusetts. “Many diseases can be spread through sexual contact. You could get a cough or a cold through sexual contact, but it doesn’t mean that it’s a sexually transmitted disease,” Andy Seale, who advises WHO on HIV, hepatitis, and other sexually transmitted diseases, or STDs. Seale said monkeypox isn’t considered an STD. Meanwhile, Dr. David Heymann, who chaired a meeting of the World Health Organization’s advisory group on infectious disease, told The Associated Press that the leading theory to explain the spread of the disease was sexual transmission at events held in Spain and Belgium. Monkeypox has not previously triggered widespread outbreaks beyond Africa, where it is endemic in animals. “We know monkeypox can spread when there is close contact with the lesions of someone who is infected, and it looks like sexual contact has now amplified that transmission,” said Heymann. “It’s very possible there was somebody who got infected, developed lesions … and then spread it to others when there was sexual or close, physical contact,” Heymann said, adding that “these international events … seeded the outbreak around the world, into the U.S., and other European countries.” *  *  * [ZH: as Michael Snyder notes, however] Of course sexual activity is not the only way that monkeypox can be spread. Officials at the WHO need to make that very clear. But so far authorities have identified two “superspreader events” which seem to have been catalysts for this global outbreak.  One was a pride festival in the Canary Islands… The Canaria Pride festival, held in the town of Maspalomas between May 5 and 15, has become a hotspot for the monkeypox outbreak, reports El País. The massive party was attended by over 80,000 people, including three Italian men who later tested positive for the virus. A health source told the newspaper: “Among the 30 or so diagnosed in Madrid, there are several who attended the event, although it is not yet possible to know if one of them is patient zero of this outbreak or if they all got infected there.” And the other was a fetish festival in Antwerp, Belgium… Many of the patients who have come forward so far are gay men and Belgium’s three confirmed cases of monkeypox have been linked to a large-scale fetish festival in the port city of Antwerp. Kuipers said in his briefing that while a notable number of men who have sex with men are among the patients the virus is ‘not confined to them’. The virus can be spread via mucus membranes in the mouth, nose and eyes or via open wounds. As we move into the summer months, the WHO is warning that similar events could cause the outbreak to accelerate even more… Now the World Health Organization is warning that summer festivals and mass gatherings could accelerate the spread of monkeypox. “As we enter the summer season in the European region, with mass gatherings, festivals and parties, I am concerned that transmission could accelerate, as the cases currently being detected are among those engaging in sexual activity, and the symptoms are unfamiliar to many,” said Dr Hans Kluge, WHO regional director for Europe. But even if health authorities do a great job of explaining the dangers, will people avoid engaging in high risk activities? Of course not. Another very interesting thing that has come to light is the fact that an international biosecurity conference that was held in Munich in March 2021 actually simulated the type of scenario that we are facing now… Elite media outlets around the world are on red alert over the world’s first-ever global outbreak of Monkeypox in mid-May 2022—just one year after an international biosecurity conference in Munich held a simulation of a “global pandemic involving an unusual strain of Monkeypox” beginning in mid-May 2022. *  *  * Last week, officials in Belgium said they would implement a mandatory, 21-day quarantine for individuals who contracted monkeypox. Germany has four confirmed cases linked to exposure at “party events … where sexual activity took place” in Spain’s Canary Islands and in Berlin, according to a government report to lawmakers obtained by the AP. “This is not COVID,” Heymann told AP. “We need to slow it down, but it does not spread in the air and we have vaccines to protect against it.” Heymann said studies should be conducted rapidly to determine if monkeypox could be spread by people without symptoms and that populations at risk of the disease should take precautions to protect themselves. Symptoms include fever, body aches, and rashes. Though related to the smallpox virus, symptoms are typically less severe for monkeypox. The latter is notably distinguished from smallpox by the appearance of swollen lymph nodes during the symptomatic phase of the virus, immediately preceding a swollen rash that spreads to the inside of the mouth and the hands and feet. Tyler Durden Mon, 05/23/2022 - 16:20.....»»

Category: smallbizSource: nyt3 hr. 36 min. ago

House ethics panel investigates Madison Cawthorn over "improper relationship" and crypto promotion

The ethics investigation adds to Cawthorn's troubles even after he lost his reelection effort in the North Carolina GOP primary. The House Ethics Committee announced that it is investigating Republican Rep. Madison Cawthorn. The panel said it is looking into an alleged "improper relationship" with a staffer. Lawmakers are also investigating whether Cawthorn "improperly" promoted an anti-Biden cryptocurrency.  The House Ethics Committee announced on Monday it is investigating embattled Republican Rep. Madison Cawthorn over a potentially "improper relationship" with a staffer and his promotion of an anti-Joe Biden-themed cryptocurrency.The committee, which rarely makes public statements, said it voted unanimously on May 11 to establish an investigation into the North Carolina lawmaker. An Ethics panel investigation is a serious step, but does not necessarily prove any wrongdoing.Cawthorn is already set to leave Congress in January, following his primary defeat to North Carolina state Sen. Chuck Edwards. It's not clear what consequences he'd face on his way out should the investigation find any wrongdoing.In response, Cawthorn's office said it "welcomed the opportunity to prove that Congressman Cawthorn committed no wrongdoing," adding that the North Carolinian was "falsely accused by partisan adversaries for political gain.""This inquiry is a formality," Cawthorn's chief of staff Blake Harp said in a statement. "Our office isn't deterred in the slightest from completing the job the patriots of Western North Carolina sent us to Washington to accomplish."Some congressional experts previously told Insider that they doubt anything will come out of a congressional ethics investigation.Congress does little to hold members of Congress and congressional staffers accountable when they conduct investigations,  Dylan Hedtler-Gaudette, government affairs manager of Project On Government Oversight, a nonpartisan watchdog group, previously told Insider."The track record of the ethics committees in both chambers is really being largely impotent and largely useless when it comes to these things," he said.If a US lawmaker is found to have violated house ethics rules then they could be subjected to a number of penalties including a censure which is a formal statement of disapproval by the House Speaker. Or in extreme cases Congress could expel a sitting lawmaker.A first-term lawmaker, Cawthorn has courted controversy from before he was even sworn into Congress. The constant swirl of scandal and headlines finally chafed on top North Carolina lawmakers enough that one, Sen. Thom Tillis, made the rare move to endorse a primary challenger to a Republican incumbent from his state."Chuck Edwards has proven he's a hardworking conservative leader who delivers conservative results," Tillis previously said in a statement. "He'll never give up on his day job in search of celebrity status in Washington, D.C., with no record of results to speak of."The committee's interest in Cawthorn's possible improper promotion of cryptocurrency is almost certainly in response to a Washingon Examiner report that found that Cawthorn held a stake in the "Let's Go Brandon"-themed cryptocurrency. The report found that the Republican may have violated insider trading laws by hyping up the meme coin while appearing to have non-public knowledge of the currency's trajectory — namely that NASCAR driver Brandon Brown, the original Brandon in question, would be sponsored by the coin. News of the sponsorship, which was later nixed, briefly sent the cryptocurrency's value skyrocketing.Insider's subsequent reporting found that Cawthorn could have violated a different law by not properly disclosing his stake in LGBCoin. Lawmakers are required to file reports about their financial holdings, including crypto purchases.Last week, Cawthorn vowed that he would use his remaining time in Washington to "expose" fellow Republicans who had helped take him down or not stood up for him.Before Cawthorn hinted at revenge, House Minority Leader Kevin McCarthy  expressed that he still wanted to "help" Cawthorn. "I want to help him. He had some issues, but he's young and so you don't wish somebody ill," McCarthy told CNN's Manu Raju.Read the original article on Business Insider.....»»

Category: topSource: businessinsider4 hr. 36 min. ago

House panel investigating if Rep. Madison Cawthorn improperly promoted a cryptocurrency

The House Ethics Committee said in a statement Monday that it has established an investigative subcommittee that "shall have jurisdiction to determine whether Representative Madison Cawthorn may have: improperly promoted a cryptocurrency in which he may have had an undisclosed financial interest, and engaged in an improper relationship with an individual employed on his congressional staff." Cawthorn, a North Carolina Republican who lost his re-election bid last week in a GOP primary, had been dealing with calls that he should face an insider-trading investigation, after a Washington Examiner report raised questions about the congressman's moves with LGBCoin, a cryptocurrency. Cawthorn's chief of staff, Blake Harp, said the lawmaker and his staff "welcome the opportunity to prove that Congressman Cawthorn committed no wrongdoing and that he was falsely accused by partisan adversaries for political gain," according to multiple published reports.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news......»»

Category: topSource: marketwatch5 hr. 3 min. ago

Too Early To Get Bullish: Mike Wilson Sees S&P Tumbling To 3400 In Less Than Three Months

Too Early To Get Bullish: Mike Wilson Sees S&P Tumbling To 3400 In Less Than Three Months A curious trend has emerged in Bank of America's monthly Fund Manager Survey: with every passing month, as the S&P grinds lower and lower until it finally briefly dipped into a bear market on Friday, the prevailing consensus among Wall Street investors for where the "Fed put" is has also declined with every passing month... ... and is currently at just 3529, down from 36347 in April, and from 3698 in February. None of that is a surprise to Morgan Stanley's Michael Wilson (the second most bearish "Michael" - and strategist - on Wall Street after BofA's Michael Hartnett) who one week after saying that the S&P will likely drop to 3,400 as "that is where valuation and technical support lie" before rebounding to his base cae target of 3,900, picks up where he left off and in his latest Weekly Warm-up note, says that bearishness is spreading fast and "de-rating is now a consensus view" but the magnitude is still up for debate (as the above shrinking Fed Put trends show). As Wilson elaborates in his latest note (available to pro subscribers) while most clients agree P/Es should be lower than last year, there is still some debate around how low P/Es should fall. In this context, many MS clients believe that the de-rating is now over with the S&P 500 NTM P/E having fallen to 16.5x from 21.5x last November. Here Wilson agrees, but is not so sure that earnings forecasts are correct. In fact, Wilson adds, the S&P 500 reached a reasonable level last week when ERPs traded as high as 345bps which is right in line with Morgan Stanley's current fair value target. However, according to Wilson, 345bps is too conservative now given the likely fall in earnings forecasts and PMIs over the next 6 months, not to mention the greater than average geopolitical risks. Indeed, P/Es typically lead EPS revisions and this time should be no different. Meanwhile, just to make sure he continues to lead the market on the way down as all of his peers scramble to catch down to his year-end forecast, Wilson again lowered his target P/E on both a normalized (16.5x) and short term (14.5x) basis "given the risk to earnings growth that is more visible and less deniable, particularly for consumer and technology oriented companies. Or as he puts it: "... the S&P 500 P/E will fall toward 14x ahead of the oncoming downward EPS revisions. ~14.5x, which assumes an ERP of ~400bps, mutiplied by the current NTM EPS of $237 is how we arrive at our near term overshoot of fair value scenario of 3400- which we have discussed in recent reports." Meanwhile, energy - a sector we have been pitching since the summer of 2020 - has officially emerged as the most favored sector by generalists, and inflation expectations remain high. As such, Wilson warns that investors view the hawkish Fed as appropriate and since he expects the S&P to drop at least another 550 points to 3,400, Wilson cautions that "the Fed put strike price is now below 3500." Furthermore, while bearishness is now pervasive, Wilson notes that this is a necessary condition for a sustainable low, but an insufficient one. Indeed, as we pointed out in last month's Fund Manager Survey, "while sentiment and positioning for active institutional investors is low, asset owner clients remain heavily exposed to equities. As they reallocate, this should further weigh on equity prices." Continuing his trek through Wall Street's bearish underbelly, Wilson next pays a visit to the biggest question mark facing the US economy - the health of the consumer - which according to Walmart and Target is far worse than career economists and Fed talking heads will have everyone believe. As Wilson puts it, while COVID has been a terrible period in history, many consumers, like companies, actually benefited financially from the pandemic: "Between the combination of record amounts of stimulus provided directly to many households and asset price inflation for homes, stocks and crypto currency, most consumers experienced a one time windfall in wealth." But coming into 2022 Wilson's view, just like ours, was that "this gravy train was about to end for most households as we anniversaried the stimulus, asset prices de-rated and inflation in non-discretionary items like shelter, food and energy ate into savings." And indeed, consumer confidence readings for the past 6 months supported the view that things aren't so great anymore for the average household. Yet, many investors have continued to argue erroneously the consumer is likely to surprise on the upside with spending as they use up excess savings to maintain a permanently higher plateau of consumption (this, as we noted last October, was the core premise behind Goldman's cheerful late 2021 GDP forecasts which the bank crucified last weekend). The shift from goods to services has been the other rallying cry for the US consumer, a theme which as Wilson has frequently noted, is a net negative for the stock market given the much higher contribution of consumer goods versus services companies to the overall market cap of the consumer discretionary sector. If that wasn't enough, over the past few weeks more nascent weakness has emerged as the consumer sector has been pummeled by bad news from the largest US retailers (WMT, TGT, ROST, etc) all of whome cited weaker demand and profitability. This is in line with Wilson's that the consumer will remain a positive contributor to the overall economy this year but the slowdown in consumer activity will contribute to negative operating leverage. It's effectively the reversal of the over earning that many consumer oriented companies experienced over the past few years. Finally, there is still a strong view from many clients to play a re-opening trade as the consumer moves from goods to services spending. However, as noted above, that trade may be at risk now as airline and other travel expenses become out of reach for many households, and we have in fact noted the drop in airline ticket purchases following the record surge in air fares.  As such, Wilson says that he remains underweight the consumer discretionary sector and believes it will disappoint on earnings this year. There's more: while the narrative of the "strong US consumer" is cracking, Wilson says that the other big push back he received to his bearish year ahead outlook in recent client meetings, was on the view that technology spending would likely disappoint the aggressive assumptions coming into 2022. Technology bulls argue that work from home only benefited a few select companies while most would continue to see very strong growth from the very positive secular trends for technology spend. In fact, many bulls argued technology spending was no longer cyclical but structural and non-discretionary, especially in a world where costs are rising so much. Companies would spend more on technology, especially software, to become more efficient. Wilson says he strongly disagreed with that view and argued technology spending is inherently cyclical and would follow corporate cash flow growth and corporate sentiment. There has also been a massive pull forward of many durable technology goods amid covid like PCs, handsets, servers, etc...a trend that would require a period of absorption in 2022. That said, when marketing his mid-year outlook, Wilson found many technology investors are now on his page and more worried about companies missing forecasts than he has heard in over a decade. While some may view this as bullish from a sentiment standpoint, the MS strategist thinks it's a bearish sign as investors will likely want to wait to buy the dip from here and even sell key core positions which seems to be what's been happening since 1Q earnings season. Bottom line, Wilson believes that "technology spending is likely to go through a cyclical downturn this year and it could extend to even the more durable areas. While clients aren't in denial about this risk anymore, it's not fully priced, in our view. We remain underweight cyclical tech (hardware and semis) and neutral on internet/software." Shifting the discussion to another topic, Wilson writes that "perhaps the biggest change in the past 6 months is the view that inflation is here to stay and no longer transitory." At the end of last year there was a more balanced view that inflation could come down in 2022 and allow the Fed to take a more modest path on rate hikes to get it under control. But that view is now out the window with the severe move higher in both front and back end rates. As a result, Wilson finds himself much more bullish on long duration bonds than the average equity client; he explains why: Our more bullish view is even more in contrast to the views of macro and rates oriented clients. This is in stark contrast to year end when we were much more bearish on long duration bonds than the average equity client. As such, we are taking this as a contrarian signal, particularly given our more bearish view on growth which should drive more money into bonds from both retail and institutional asset allocators. In fact, we think part of the move lower in yields and stocks is the direct result of this re-allocation which has further to go. Which brings us again to the topic du jour, the Fed Put, which Wilson repeats remains below 3,500 mostly due to the hawkish Fed. As the MS strategist notes, "this is another area where equity clients have pivoted significantly since year end. Most are now in the hawkish Fed camp and realize the reaction function has changed from prior decades. This is all due to the inflation genie having escaped from the bottle." Echoing what we observed up top when looking at the sliding Fed Put estimates by FMS respondents, Wilson writes that many still think there is a Fed put but they acknowledge the strike price is now lower and agree that it's somewhere below 3500 on the S&P 500. This would be down approximately 15% y/y which is a level that will start to have a negative wealth effect - we showed this morning that as of this moment, a whopping $20 trillion in household wealth has been lost, a number which is still not enough for the Fed... ... which will also help slow demand, a necessary condition for the Fed to get inflation under control. Taking all of this together, Wilson says that "equity clients are bearish overall and not that optimistic about a quick rebound" and while this is a necessary condition for a sustainable low, it is note a sufficient one. And while Wilson's 12 month target for the S&P 500 is 3900, he expects an overshoot to the downside this summer that could come sooner rather than later (sooner, since he expects the S&P to drop by almost 600 points in the next 3 months). Additionally, while sentiment and positioning for active institutional investors is low, asset owner clients remain more heavily exposed to equities, and as they reallocate toward bonds and other assets less vulnerable to slowing growth/recession, "this should weigh on equity prices in the near term." In conclusion, Wilson thinks that 3400 is a level that more accurately reflects the earnings risk ahead and he expects that level to be achieved by the end of 2Q earnings season, if not sooner. Until then, he urges traders to use vicious bear market rallies to lighten up on the areas most vulnerable to the oncoming earnings reset. More in the full note available to professional subscribers. Tyler Durden Mon, 05/23/2022 - 14:01.....»»

Category: smallbizSource: nyt5 hr. 50 min. ago

Tchir: "It"s Too Early For The Fed To Change Their Messaging"

Tchir: "It's Too Early For The Fed To Change Their Messaging" Authored by Peter Tchir via Academy Securities, We Laughed, We Cried, It’s Way Worse Than Cats The market has become an exhausting and emotional roller coaster! Just a glance at the T-Report titles in the past month is enough to depress you: Welcome to Thunderdome!!! The Not So Good, The Bad, and the Ugly Bad to the Bone Duck and Cover Nowhere To Run, Nowhere to Hide Traditional vs Disruptive Portfolios (we will come back to this one) The “R” Word Rears its Ugly Head. Interspersed throughout we’ve had some calls for short-term market bounces that have enjoyed a modicum of success, but there has been a general theme, which unfortunately, the market has generally followed. Exhausted If I had to describe market participants right now, I’d use the word “exhausted.” A few weeks ago, it might have been “shell-shocked.” A few weeks before that, I might have dared to use the word “optimistic” or “fearful” (weird that both words come to mind). But right now, exhausted is about the best description that I can come up with for most people in markets! Friday did little to make people more comfortable as we rose on the open, sold-off in the afternoon, only to rally strongly into the close! How much was OpEx (option expiration) related or not is anyone’s guess, but it was another exhausting day of trading where it was easy to feel incredibly smart or incredibly stupid, or both, in a matter of hours. What’s Next? Who knows? I could make a bull case, a bear case, or an indifferent case, which tells me that I should probably be neutral, waiting for some clear signal. Here is what I’m watching and thinking about as we head into this week: Weeks leading into holidays are often good for markets! But if they are weak, the weakness tends to persist. Not much to look at here, at least until Thursday. Bitcoin held its own last week. I think crypto is a lynchpin for this market. We described the “disruptive portfolio” concept last week, so markets need crypto to stabilize. With the ECB coming after this market hard now (Lagarde has some strong words on the subject), bitcoin could face problems beyond those of its own making (like the unstable “stable” coins). Positive for now, but this could turn on a dime. The “better than bank account” stocks caught a strong bid on Friday into the close. These megacap stocks are key to index levels and the support seems good. The stocks are certainly “cheap” relative to a few weeks or months ago, so maybe they bottomed? Or maybe the stability in crypto and OpEx was enough to provide a surge into the close that won’t be followed through? The stock vs bond relationship has “normalized.” Bonds tended to zig this week when stocks zagged, and vice versa. The 60/40 funds acted like they were supposed to, and risk-parity trades made sense again. I do think that shifting correlations are crucial in a market driven by around the clock/across the globe algo trading, so this normalization of some major cross-asset correlations is potentially very positive. Recessions tend to take a long time to develop. The jump to recession chatter seems premature. Yes, I’m in the “hard landing” camp. Yes, I think Europe will be in a recession soon, if not already, largely due to the ongoing and increasing number of issues related to the war in Ukraine. But the earnings that triggered so much of the recession talk seem to say more about the cost base rather than the consumer (unless you were building in to your model infinite spending capacity for the average consumer). The 2 jobs for every person looking soundbite seems overdone. I cannot remember how many times I heard that from bulls last week. Whether they were bullish on the market or on the economy, they kept trotting out this one line. It almost felt “manufactured” or like some “power” had pushed a bunch of people on this particular soundbite. I am convinced that we have seen peak job availability (at least for the rest of this year). Munis caught a bid!!!! Admittedly, a small bid, almost microscopic, relative to the 10% or more decline from the start of the year, but a bid nonetheless. Inflows actually started a month ago, which wasn’t enough to stop the onslaught, but should help if this rebound is real. This is important as this could really mark a change in retail behavior (though if I’m correct in last week’s report, we should see money shift from equities to bonds as the ability to get returns in fixed income that were unheard of a year ago, should encourage that shift to some degree). Commercial Real Estate. The Fed watches this closely. Real estate feeds into the banking system faster than any other asset. Whether you are a local, regional, or global player, real estate (especially  commercial real estate) impacts your portfolio a lot! In any given area, there are only so many small businesses to lend to, so you get forced into real estate. The residential market is one thing, but it is the volatility in commercial that can impact banks quickly, which is why the Fed should be (and I suspect is) looking at this market closely. Location, location, location. We can all see the trends of where people are moving to and potentially working from (commercial real estate should do well where people are moving). But we can also see the cities (with some of the biggest commercial real estate exposure) that don’t yet appear to be “normalizing.” This is likely to be more of a regional issue than a national issue because of the importance of location. The persistence of WFH. It has been far more difficult than many senior managers thought to get people back to the office on a fulltime basis. Whether it is outright revolt (or the fear of revolt), workers hold the upper hand. Many companies are running short staffed already and are having difficulty filling open positions. They “know” that other employers are willing to allow more work flexibility to get or retain people so they are “handcuffed” in their ability to get people back in the office like they used to be (especially for jobs that don’t require physical proximity). That has been occurring without a new wave of COVID (which is starting to seem like a real possibility) or the emergence of new reasons not to commute (from subway safety to monkeypox virus (no comment)). I am not sure how much longer this WFH trend can continue without impairing office valuations and higher interest rates are not helping. Keep an eye on this sector for weakness, but be comforted that it is at the top of the list of what the Fed watches (they want nothing to impair the banks). Commercial Real Estate as an inflation hedge? I’ve heard this a lot but cannot get there, partly because of the point above, partly because of what we are seeing in the earnings of retailers (who presumably have commercial real estate costs), and partly because the Fed hikes cannot be helping. Bear Market Rallies are Vicious! The March rally, which was more than 15% for the Nasdaq 100 was both vicious (and with hindsight) a bear market rally. The viciousness of these rallies may explain the relentless buying of some of the most aggressive ETFs. Who wouldn’t want to make 20% in a couple of weeks? But it may also be why we still don’t seem to have experienced “capitulation.” A lot to think about, but very few conclusions! Bottom Line Rates should trade in narrower ranges. Rates should move in the opposite direction of stocks as markets “normalize.” The general trend is towards lower yields due to concern about the health of the economy and the Fed’s ability to maintain their pace of hikes. Credit should do well, but I’d be selling leveraged loans. They have outperformed too much and given the issuance in the past couple of years (where “tough” deals went to loans to get done) the “protection” relative to bonds is likely overstated. Add to that the potential total return if interest rates are low and I have to advocate heavily for BBB and BB bonds. I like owning them on a spread and an outright level (HY also showed some glimmers of hope). I like CLOs at the senior tranches and I’d buy the cheapest senior tranches because I continue to believe that it is easier to pick a perfect NCAA bracket than it is to create losses in a AAA CLO tranche (the same is probably true down to BBB, but I only want to seem a little crazy, not fully having gone off the deep end). CCC bonds are trickier - they will bounce massively on any rally, but with a recession being discussed, they aren’t for the faint of heart. Equities. A bounce would be nice and should maybe even be expected. Having said that, capitulation has not occurred and what looks “cheap” versus 6 months ago might only look “ok” versus a couple of years ago (and crypto concerns me). I guess I’m still cautious but close to neutral and am happy to change my mind here as indications of sentiment, positioning, and data come in. It is too early for the Fed to change their messaging. They might start hinting at it as financial conditions have tightened and the negative wealth effect is real, but the shift will be subtle for now. I think in order of things they watch, equity prices are in the distance, while commercial real estate and short-term credit markets are front and center (short-term credit is performing very well and there is large demand to lend, so all good there, and CRE isn’t a problem at the moment). What I could really use is some rest! A day or two (or even five) of calm markets would be nice (beyond that, I’d get nervous again). Markets where you don’t shake your head every time you spend 15 minutes away from the desk and can’t believe where prices are now. That would be nice, and we’d all enjoy it (and quite frankly, need it)! Tyler Durden Mon, 05/23/2022 - 14:42.....»»

Category: smallbizSource: nyt5 hr. 50 min. ago

Tesla Set To Return To Pre-Lockdown Production Schedule At Shanghai On Tuesday

Tesla Set To Return To Pre-Lockdown Production Schedule At Shanghai On Tuesday Tesla looks like it could be finally planning to return to its pre-lockdown production in Shanghai. The move comes after weeks of jostling back and forth between production plans, with the company's output impacted not only by Covid and the country's lockdowns, but also due to supply shortages.  Shanghai should return to normal production by Tuesday, according to a new report by Reuters. At that point, the factory will increase its daily output to 2,600 vehicles, from the current 1,000 vehicles per day the company is producing.  Recall we wrote just days ago that Tesla's situation in Shanghai could be an "epic disaster" for its Q2, according to Wedbush's Dan Ives.  Ives called the situation in China "an epic disaster" for Tesla's coming June quarter and said he expects to see "modest delivery softness", according to a Bloomberg note out Thursday morning. Ives also said he is expecting a "slower growth trajectory" in China into the second half of the year and called the headwinds out of Asia "hard to ignore". He also commented that the ongoing Twitter drama "may be a distraction" for Musk at a time when his attention should be focused on dealing with Tesla's issues.  Recall, we noted days ago that "no vehicles were sold in Shanghai last month" as a result of the lockdown, according to an auto-seller association in the city.  We also noted that Tesla's plans to restart Shanghai to its pre-pandemic production levels had been pushed back another week. Citing an internal memo, Reuters wrote just three days ago that Tesla is still planning on just one shift for its plant this week and a daily output of about 1,200 units. We had stated last week that Tesla was aiming for 2,600 units per day by May 23, so it looks like they'll arrive at their goal just one day later than expected.  Tyler Durden Mon, 05/23/2022 - 15:00.....»»

Category: smallbizSource: nyt5 hr. 50 min. ago

Majority Willing to Take Action to Find More Affordable Housing

As the housing boom continues, with home prices setting records and rising rents further stretching Americans’ budgets, new data from Bankrate shows that 58% of U.S. adults would be willing to take action to find more affordable housing. This includes moving out of state, moving farther from family and friends, buying a fixer-upper, moving farther from work, moving to a… The post Majority Willing to Take Action to Find More Affordable Housing appeared first on RISMedia. As the housing boom continues, with home prices setting records and rising rents further stretching Americans’ budgets, new data from Bankrate shows that 58% of U.S. adults would be willing to take action to find more affordable housing. This includes moving out of state, moving farther from family and friends, buying a fixer-upper, moving farther from work, moving to a less desirable area, and/or something else. The study findings show 75% of Gen Z and 69% of millennials would consider at least one of these actions, compared to 59% of Gen X and 41% of baby boomers. Here are some additional findings in the report: Cost-saving options: Moving to a cheaper area: 27% of U.S. adults said they would be willing to move out of state to find more affordable housing. Additionally, 20% would move farther from family and friends 13% would move farther from work 11% would be open to moving to a less desirable area. “The rise of remote work makes affordability-driven migration more attractive,” writes Jeff Ostrowski, Bankrate.com analyst and author of the report. “However, most expensive markets have rewarded homeowners through robust appreciation. Cheaper markets, while enticingly affordable, create less housing wealth. You’ll also potentially have to leave behind family and friends and the support they offer for things like childcare. Buying a fixer-upper: 21% would be open to a fixer-upper as a way to find more affordable housing. For buyers frustrated by the lack of inventory and rocketing prices, older homes can be a good compromise. However, no matter how careful you are about estimating your renovation budget, you can count on surprises—especially in a time when materials costs are volatile and construction labor is in short supply, the report states. Potential homebuying pitfalls: Waiving inspection: To waive the typical inspection contingency without getting burned, be sure to reserve the right to conduct an inspection for the purposes of gathering information. This means, in a competitive market, waiving the home inspection contingency without waiving the inspection itself. The idea is that you don’t want to ask the seller to pay for minor touch-ups, but you also don’t want to unwittingly buy a house that needs tens of thousands of dollars in repairs, the report states. The takeaway: “In today’s housing market, desperate buyers are willing to make concessions that may not be the best decisions in the long run,” Ostrowski says. “This can include buying in a cheaper area that can create fewer wealth-building opportunities in the future, waiving home inspections, and stretching budgets beyond what is reasonable. It is important to weigh the pros and cons, go in with a plan, and be as patient as possible.” To read the full report, click here. The post Majority Willing to Take Action to Find More Affordable Housing appeared first on RISMedia......»»

Category: realestateSource: rismedia6 hr. 18 min. ago

Stock Market Downgrades Are Dragging The S&P 500 Lower

Equities Under Pressure, Margins Tighten, And Outlook Dims It is no secret that equities have increased pressure due to tightening margins. While the split between companies is about 50/50 in terms of how many S&P 500 companies (NYSEARCA:SPY) could widen their margin the net result was 30 basis points of shrinkage. This, along with the […] Equities Under Pressure, Margins Tighten, And Outlook Dims It is no secret that equities have increased pressure due to tightening margins. While the split between companies is about 50/50 in terms of how many S&P 500 companies (NYSEARCA:SPY) could widen their margin the net result was 30 basis points of shrinkage. This, along with the threat of inflation, higher interest rates, and recession have the earnings outlook in retreat as well and that, we think, will drive the broad market even lower. if (typeof jQuery == 'undefined') { document.write(''); } .first{clear:both;margin-left:0}.one-third{width:31.034482758621%;float:left;margin-left:3.448275862069%}.two-thirds{width:65.51724137931%;float:left}form.ebook-styles .af-element input{border:0;border-radius:0;padding:8px}form.ebook-styles .af-element{width:220px;float:left}form.ebook-styles .af-element.buttonContainer{width:115px;float:left;margin-left: 6px;}form.ebook-styles .af-element.buttonContainer input.submit{width:115px;padding:10px 6px 8px;text-transform:uppercase;border-radius:0;border:0;font-size:15px}form.ebook-styles .af-body.af-standards input.submit{width:115px}form.ebook-styles .af-element.privacyPolicy{width:100%;font-size:12px;margin:10px auto 0}form.ebook-styles .af-element.privacyPolicy p{font-size:11px;margin-bottom:0}form.ebook-styles .af-body input.text{height:40px;padding:2px 10px !important} form.ebook-styles .error, form.ebook-styles #error { color:#d00; } form.ebook-styles .formfields h1, form.ebook-styles .formfields #mg-logo, form.ebook-styles .formfields #mg-footer { display: none; } form.ebook-styles .formfields { font-size: 12px; } form.ebook-styles .formfields p { margin: 4px 0; } Get The Full Henry Singleton Series in PDF Get the entire 4-part series on Henry Singleton in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues (function($) {window.fnames = new Array(); window.ftypes = new Array();fnames[0]='EMAIL';ftypes[0]='email';}(jQuery));var $mcj = jQuery.noConflict(true); Q1 2022 hedge fund letters, conferences and more There is still about 5% of the S&P 500 left to report for Q1 which turned out to be a very lackluster season. The final rate of growth is going to come in very near to 9.1% and may come in below that figure if the rest of retail is as bad as what we’ve seen so far. At 9.1%, the market outperformed the Marketbeat.com consensus estimate but by a mere 460 basis points compared to quadruple-digit outperformance in the 3 quarters prior, a fact that suggests earnings growth is priced in regardless of where the outlook is headed. Downward Revisions Are Piling Up For Equity Markets As tepid as the Q1 season was, it is the expectations for earnings that are driving the action now and those expectations are falling. The consensus for earnings growth in Q2 is down almost 400 basis points over the last month and falling and the estimates for Q3 and Q4 are coming down as well. The consensus estimates for Q3 and Q4 are down 160 and 140 basis points each over the last 5 weeks and they too are still falling. The only good news is the consensus for 2023 earnings growth ticked higher but don’t read too much into that fact. As it is, the outlook for 2023 is so murky we would be surprised to see any actual revisions at this point. It is more likely that the 2023 outlook ticked higher in response to the downtick for 2022. A quick look at the Marketbeat.com upgrade/downgrades tracker will show that negative sentiment is dominating the market. While many stocks are holding their Buy ratings the price targets are falling but there are a fair number of rating downgrades as well. The early Monday action has downgrades outpacing upgrades by 2.75:1 while the price target reductions outpace the increases by more than 6:1. The most downgraded stocks of the Q1 season include Carvana and Netflix in the #1 and #2 position and there are at least 5 key S&P 500 companies in the top 25. Those include Netflix, Amazon, Walmart, Home Depot, and Starbucks, all of whom are having issues with growth and profits that are, in many cases, worsened by the fighting in Ukraine. This week there will be 13 reports from S&P 500 companies including a number of retailers and other consumer-sensitive names. The Risk For The Market This Week Is Inflation The biggest risk for the market this week is inflation and will come in the form of FOMC minutes on Wednesday and the PCE price index on Friday. The core PCE price index is expected to hold steady on a month-to-month basis at 0.3% but moderate to 4.9% YOY. While good relative to the trend, these figures are still very hot and there is a risk of them coming in above consensus. Turning to the chart, the S&P 500 is trying hard to stay out of a textbook bear market but the technical picture is not good. Not only is the near-term trend down but the index is below several important resistance points that are likely to keep any upward moves small and short. If the market is unhappy with the Fedspeak in the minutes or the inflation data on Friday, this market will likely move below the 3,815 low set in the previous week. Should you invest $1,000 in SPDR S&P 500 ETF Trust right now? Before you consider SPDR S&P 500 ETF Trust, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and SPDR S&P 500 ETF Trust wasn't on the list. While SPDR S&P 500 ETF Trust currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys. Article by Thomas Hughes, MarketBeat Updated on May 23, 2022, 2:17 pm (function() { var sc = document.createElement("script"); sc.type = "text/javascript"; sc.async = true;sc.src = "//mixi.media/data/js/95481.js"; sc.charset = "utf-8";var s = document.getElementsByTagName("script")[0]; s.parentNode.insertBefore(sc, s); }()); window._F20 = window._F20 || []; _F20.push({container: 'F20WidgetContainer', placement: '', count: 3}); _F20.push({finish: true});.....»»

Category: blogSource: valuewalk6 hr. 19 min. ago

Palo Alto Networks Bottoms But A Rebound May Not Be Coming

Palo Alto Networks Is A Highly Valued Stock Palo Alto Networks (NASDAQ:PANW) had such a good quarter the results are lifting the entire cybersecurity industry. The problem for us is the results aren’t that strong, the growth is largely priced into the market, and trading at over 65X its earnings it is one expensive stock […] Palo Alto Networks Is A Highly Valued Stock Palo Alto Networks (NASDAQ:PANW) had such a good quarter the results are lifting the entire cybersecurity industry. The problem for us is the results aren’t that strong, the growth is largely priced into the market, and trading at over 65X its earnings it is one expensive stock to own. In light of the fact Palo Alto Networks doesn’t pay a dividend, this gives us no reason to want to own it. While the analysts still see upside potential in the name, we think any rebound that gets started now will be met by resistance well below the all-time high. if (typeof jQuery == 'undefined') { document.write(''); } .first{clear:both;margin-left:0}.one-third{width:31.034482758621%;float:left;margin-left:3.448275862069%}.two-thirds{width:65.51724137931%;float:left}form.ebook-styles .af-element input{border:0;border-radius:0;padding:8px}form.ebook-styles .af-element{width:220px;float:left}form.ebook-styles .af-element.buttonContainer{width:115px;float:left;margin-left: 6px;}form.ebook-styles .af-element.buttonContainer input.submit{width:115px;padding:10px 6px 8px;text-transform:uppercase;border-radius:0;border:0;font-size:15px}form.ebook-styles .af-body.af-standards input.submit{width:115px}form.ebook-styles .af-element.privacyPolicy{width:100%;font-size:12px;margin:10px auto 0}form.ebook-styles .af-element.privacyPolicy p{font-size:11px;margin-bottom:0}form.ebook-styles .af-body input.text{height:40px;padding:2px 10px !important} form.ebook-styles .error, form.ebook-styles #error { color:#d00; } form.ebook-styles .formfields h1, form.ebook-styles .formfields #mg-logo, form.ebook-styles .formfields #mg-footer { display: none; } form.ebook-styles .formfields { font-size: 12px; } form.ebook-styles .formfields p { margin: 4px 0; } Get The Full Henry Singleton Series in PDF Get the entire 4-part series on Henry Singleton in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues (function($) {window.fnames = new Array(); window.ftypes = new Array();fnames[0]='EMAIL';ftypes[0]='email';}(jQuery));var $mcj = jQuery.noConflict(true); Q1 2022 hedge fund letters, conferences and more Wedbush analysts Dan Ives called the Q3 results a “blowout” but we disagree. The company beat the Marketbeat.com consensus but by a very tepid $0.03 billion or about 220 basis points. In his view "The shift to the cloud is a massive tailwind as the company is in the right spot at the right time to benefit from this multi-year tidal wave of cyber security enterprise spending, despite macro jitters right now clouding the Street's view of the stock/sector.” As it is, the 33 analysis with current coverage rate the stock a firm Buy but there is not a lot of upsides to be had. The Marketbeat.com consensus price target is $628.50 or about 31% above the current price action but it has begun to trend lower. There’ve been at least 8 commentaries out since the Q3 results were released and only 2 boosted their price targets. The two that boosted the price targets raised theirs to a level below the consensus while the remaining 6 include 3 restated price targets and 3 lower. The takeaway is the consensus of the post-release commentaries is below the broader consensus and we think heading lower. Palo Alto Networks Beats And Raises Palo Alto Networks had a good quarter and one that may have been aided by the rising threat of Russian cyberattacks. The company reported $1.39 billion in revenue for a gain of 29.9% over last year. The growth is on top of last year’s 23% gain and is expected to continue into the end of the fiscal year. Billings, an indication of future revenue, grew by 40% and the strength also carried through to the bottom line. On the bottom line, the adjusted EPS came in at $1.79 or up 30% from last year to beat the consensus by $0.11 and the guidance is just as strong. Turning to the guidance, the company raised its full-year revenue guidance for the 3rd time this year to a range of $1.53 to $1.55 billion. This is up 25% to 27% versus last year and compares well to the $1.53 billion consensus figure. The adjusted EPS is also expected to come in above the consensus and there is some upside risk to the outlook. The catch is that, once again, trading at over 65X its earnings this guidance is priced into the market. The Technical Outlook: Palo Alto Networks Puts In A Bottom Price action in Palo Alto Networks surged higher in the wake of the Q3 results and it looks like a bottom is in. The caveat is that price action remains low relative to the current trading range and the rebound has been, so far, fairly weak. At best, we are expecting to see this stock move sideways within the established range of $450 to $630. At worst, Palo Alto Networks will fall back to the $450 level and break it after retesting resistance at or near the $450 level. In that scenario, the stock could move much lower than where it is now. Should you invest $1,000 in Palo Alto Networks right now? Before you consider Palo Alto Networks, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Palo Alto Networks wasn't on the list. While Palo Alto Networks currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys. Article by Thomas Hughes, MarketBeat Updated on May 23, 2022, 2:05 pm (function() { var sc = document.createElement("script"); sc.type = "text/javascript"; sc.async = true;sc.src = "//mixi.media/data/js/95481.js"; sc.charset = "utf-8";var s = document.getElementsByTagName("script")[0]; s.parentNode.insertBefore(sc, s); }()); window._F20 = window._F20 || []; _F20.push({container: 'F20WidgetContainer', placement: '', count: 3}); _F20.push({finish: true});.....»»

Category: blogSource: valuewalk6 hr. 35 min. ago

Bank of America raises U.S. minimum hourly wage to $22

The move, which brings the bank a step closer to fulfilling its pledge of paying $25 per hour by 2025, will increase the annualized salary for full-time employees to more than $45,000......»»

Category: topSource: foxnews6 hr. 35 min. ago

Gold closed higher Monday for third straight session

Gold futures edged higher Monday, booking a third session in a row of gains for the precious metal, as a soaring dollar pulled back from recent highs. Gold for June delivery added $5.70, or 0.3%, to settle at $1,847.80 an ounce on Comex, after Friday snapping four straight weeks in a row of declines. The string of gains lifted the most-active gold contract to its highest settlement value since May 11, according to Dow Jones Market Data. The rally also comes as a surging dollar retreated 0.9% on Monday, as measured against a basket of six major rivals. A stronger dollar can be a negative for commodities priced in the unit, making them more expensive to users of other currencies.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news......»»

Category: topSource: marketwatch6 hr. 51 min. ago

23 thoughtful yet inexpensive Father"s Day gifts for $25 or less

For Father's Day this year, you don't have to spend more than $25 to show your dad you're thinking of him and appreciate him. Prices are accurate at the time of publication.When you buy through our links, Insider may earn an affiliate commission. Learn more.For Father's Day this year, you don't have to spend more than $25 to show your dad you're thinking of him and appreciate him.YETI/Harry'sYour parents might say to you every year that they don't need a gift for Mother's or Father's Day. Chances are, you still want to get them a gift for everything they do for you, even if it's something simple.For Father's Day this year, you don't have to spend more than $25 to show your dad you're thinking of him and appreciate all that he does. Fresh herbs he doesn't have to babysit, a gourmet hot sauce, and pampering grooming products are all gifts that he'll use all the time — that and won't break the bank. The 23 best Father's Day gifts under $25 in 2022:A curated coffee subscriptionBean BoxGift a Bean Box coffee subscription, starting at $16.50, available at Bean BoxBest for: Dads who get bored with the same coffee every dayChoose how often your dad will receive a fresh bag of whole bean coffee from this popular artisanal brand. A coffee-tasting subscription lets him discover four expertly curated coffees while the coffee bag subscription makes sure a cup of joe is never far from his cupboard.A movie-themed cookbookUncommon GoodsGift "Eat What You Watch" Cookbook, $25, available at Uncommon GoodsBest for: Dads who love movies *and* cookingRemember the heavenly double-decker New York-style pizza from "Saturday Night Fever" or the blueberry pie in "Stand By Me?" Now, movie buff dads can flip through over 40 recipes inspired by their favorite iconic moments on the big screen. A low-key herb gardenUncommon Goods; Business InsiderGift the Mason Jar Indoor Herb Garden, $24, available at Uncommon GoodsBest for: Dads who sprinkle fresh herbs on everythingThese planters, which can grow popular herbs such as basil or mint, use a passive hydroponic system that makes it easy for him to maintain his mini garden. All he has to do is pick the seeds, plant them, put water in its reservoir, plop the jars near a sunny window, and the rest is magic.A non-fussy phone chargerAmazonGift the Anker Wireless Charging Stand, $15.99, available at AmazonBest for: Dads who appreciate convenienceWhen he uses this wireless charger, he can drop his phone (phone case and all) onto it and let it charge by touch.A set of dice to inspire easy workoutsUncommon GoodsGift Fitness Dice, $19, available at Uncommon GoodsBest for: Dads who never skip a workoutAt-home workouts have never been more fun than with this fitness dice set. Every roll is one in 45,000 possible routines, without any equipment required. An upgrade to plastic takeout containersUncommon GoodsGift Handmade Noodle Bowl with Chopsticks, $25, available at Uncommon GoodsBest for: Dads who love takeout (but not the packaging)Ditch the plastic or paper takeout containers and serve food in this handmade bowl. The glazed bowl and chopstick set will be Dad's new go-to when he prepares his favorite noodle, soup, and rice dishes. A Wi-Fi range extender to prevent any pesky service disruptionsAmazonGift the TP-Link AC750 WiFi Range Extender, $24.99, available at AmazonBest for: Dads who hate Wi-Fi outagesWi-Fi signals sometimes fail to reach every corner of your home, and if the whole family is at home, that can be frustrating and challenging. The TP-Link AC750 WiFi Extender can plug into most common outlets to cover up to 1,500 square feet in Dad's home. After he hits the WPS button on the home router, he'll have to hit the range extender on the TP-Link device. After that, he'll be able to get dual-band speeds of up to 750 Mbps in otherwise difficult-to-reach areas in his home.A high-quality thermos he'll take everywhereYETIGift the YETI Rambler 10 oz Lowball, $20, available at YETIBest for: Dads who hate a lukewarm anythingAn insulated, stainless steel cup that will keep cold drinks cold in the summer and hot ones hot in the winter, the YETI Rambler Lowball was made for campfire and lakeside gatherings. If he's hanging out in the great outdoors, he'll want to keep this cup close at hand. A truly unique hot sauceSmall Axe Peppers Hot SauceGift The Bronx Greenmarket Hot Sauce (Green, 5 oz), $7.99, available at AmazonBest for: Dads who love a bit of spiceThis all-natural, tangy hot sauce is part of the lineup on the popular YouTube series "Hot Ones" and is made from Serrano peppers grown in over 30 community gardens throughout the Bronx. A ticket stub album to collect his favorite memoriesUncommon GoodsGift Ticket Stub Diary, $14, available at Uncommon GoodsBest for: Dads who cherish every live eventWhether Dad loves a good Broadway show, frequents Yankee games, or went to every showing of the "Avengers" movies, this sleeved ticket stub book preserves his favorite memories. A luxury shaving kitHarry'sGift the Harry's Truman Shave Set, $15, available at Harry'sBest for: Dads who love a nice self-care routineThis shave set from Harry's is as sleek as it gets. The kit includes a signature handle with a textured rubber grip, three German-engineered blade cartridges, foaming shave gel for a rich lather, and a travel cover to protect the blades when he's on the move.A set of ski-themed glassesUncommon GoodsGift the Ski Resort Map Glass, $20, available at Uncommon GoodsBest for: Dads who love to skiRemind Dad of his favorite days skiing backcountry on mountains with fresh powder and bright blue skies. If he's really more of a National Parks kind of Dad, there's an equally good option here. A box of goodies tied to his favorite fandomLoot CrateGift a Loot Crate, from $24.99, available at Loot CrateBest for: Dads who belong to fandomsA well-curated gift box, like a geek culture "crate" from Loot Crate, is far from a cop-out. The gift crates contain collectibles and merch related to fandoms like Marvel, "Harry Potter," and "Star Trek," and the under-$25 options contain socks, shirts, and underwear featuring a variety of pop culture icons. A milk frother for perfect lattesAmazonGift the Powerlix Milk Frother, $15.95, available at AmazonBest for: Dads who love coffee a latteWe love this inexpensive milk frother for creating cafe-level drinks at home, and Dad will too. We actually think it's the best overall milk frother you can buy. A moisture-repelling golf capNikeGift the Nike Legacy91 Golf Hat, $20, available at Dick's Sporting GoodsBest for: Dads who will play all 18 holesNike's special Dri-FIT technology keeps his head dry and comfortable under the glaring sun, while the interior sweatband is soft and absorbent. Whether he's on the first or 18th hole, he'll stay cool and collected. A fun, beer-themed planterEtsyGift the IrishGlass Beer Bottle Glass Planters, from $10, available at EtsyBest for: Dads loyal to their brand of beerHere's a unique indoor garden idea: Choose any beer bottle brand you'd like to be cut, sanded, and polished into a unique planter.A card game that'll become his new favoriteAmazonGift the Exploding Kittens Card Game, $19.99, available at AmazonBest for: Dads who live for game nightIf he's a kid at heart who loves kittens, explosions, and laser beams, then he'll love the cult-favorite, Kickstarter sensation of Exploding Kittens. Buying this gift is almost like a gift to yourself since he'll need to enlist multiple players to enjoy the game. Beard oil that reduces flakiness or itchinessOars + AlpsGift the Oars + Alps Cedarwood Forest Beard Oil, $20, available at Oars + AlpsBest for: Bearded dadsContaining nourishing oils like jojoba and argan, this beard oil will revive his scruff in no time. It quickly relieves any flaky, itchy skin under his hair and smells good while doing it. A fresh set of Allbirds lacesAllbirdsGift the Allbirds Runner Lace Kit, $10, available at Allbird'sBest for: Dads with well-worn AllbirdsIf he owns a pair of Allbirds already, a simple lace refresh will make them feel brand new. This kit contains gray, white, and black, but check out its four limited-edition packs with brighter colors. A custom photo bookArtifact UprisingGift the Artifact Uprising 5"x 5" Instagram Photo Book, $14, available at Artifact UprisingBest for: Dads who insist they just want "time with the kids"Bring all your mobile photos with Dad to life in this softcover book that looks like a classy coffee table magazine. It has a textured eggshell cover and interior matte pages, which bring out the best of your favorite memories. Comfy socks specifically designed for golfingBombasGift the Men's Performance Golf Ankle Socks, $16.50, available at BombasBest for: Dads who love to golfSocks are a universally pleasing gift. A cult favorite among direct-to-consumer brands and the Insider Reviews team, Bombas socks offer cushioned support and practicality. This pair is designed especially for performance wear when playing golf.A gift card to see all the summer blockbustersFandangoGift a Fandango Gift Card, from $15, available at FandangoBest for: Dads who love a movie nightNothing beats going to the movies with his kids. If you're unable to make a trip to the local movie theater right now, Fandango gift cards also work for movie and TV show rentals found on Fandangonow.com.A simple yet supremely useful money clipLeatherologyGift the Leatherology Money Clip, $30, available at LeatherologyBest for: Dads who have everything elseThis simple but chic full-grain leather clip can hold up to 20 bills. An added plus is that Leatherology will take care of the gift packaging for you for free. Read the original article on Business Insider.....»»

Category: topSource: businessinsider7 hr. 4 min. ago

Citi’s Jane Fraser: It’s Hard To See The U.S. Entering A Recession In ’23

Following are excerpts from the unofficial transcript of a CNBC interview with Citi CEO Jane Fraser on CNBC’s “Squawk on the Street” (M-F, 9AM-11AM ET) today, Monday, May 23rd for Davos 2022 in Davos, Switzerland. Following is a link to video on CNBC.com: It’s Hard To See The U.S. Entering A Recession In ’23, Says […] Following are excerpts from the unofficial transcript of a CNBC interview with Citi CEO Jane Fraser on CNBC’s “Squawk on the Street” (M-F, 9AM-11AM ET) today, Monday, May 23rd for Davos 2022 in Davos, Switzerland. Following is a link to video on CNBC.com: It’s Hard To See The U.S. Entering A Recession In ’23, Says Citi’s Jane Fraser Fraser On Recession JANE FRASER: I find it hard to see the US not, entering a recession in ‘23 just because of labor market, the strength of balance sheets and we’re certainly seeing— .first{clear:both;margin-left:0}.one-third{width:31.034482758621%;float:left;margin-left:3.448275862069%}.two-thirds{width:65.51724137931%;float:left}form.ebook-styles .af-element input{border:0;border-radius:0;padding:8px}form.ebook-styles .af-element{width:220px;float:left}form.ebook-styles .af-element.buttonContainer{width:115px;float:left;margin-left: 6px;}form.ebook-styles .af-element.buttonContainer input.submit{width:115px;padding:10px 6px 8px;text-transform:uppercase;border-radius:0;border:0;font-size:15px}form.ebook-styles .af-body.af-standards input.submit{width:115px}form.ebook-styles .af-element.privacyPolicy{width:100%;font-size:12px;margin:10px auto 0}form.ebook-styles .af-element.privacyPolicy p{font-size:11px;margin-bottom:0}form.ebook-styles .af-body input.text{height:40px;padding:2px 10px !important} form.ebook-styles .error, form.ebook-styles #error { color:#d00; } form.ebook-styles .formfields h1, form.ebook-styles .formfields #mg-logo, form.ebook-styles .formfields #mg-footer { display: none; } form.ebook-styles .formfields { font-size: 12px; } form.ebook-styles .formfields p { margin: 4px 0; } Get The Full Ray Dalio Series in PDF Get the entire 10-part series on Ray Dalio in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues (function($) {window.fnames = new Array(); window.ftypes = new Array();fnames[0]='EMAIL';ftypes[0]='email';}(jQuery));var $mcj = jQuery.noConflict(true); Q1 2022 hedge fund letters, conferences and more SARA EISEN: Oh you don’t see it happening. FRASER: I don't see it happening until ’23 at the earliest and then we'll have to see how the next few months unfold. Anyone who says a certainty on the economy right now is a good fortune teller. Fraser On Inflation FRASER: Yes, we do expect there to be more. We're expecting to be at least 200 basis point hike this year over where we are already. I think the good news is that the market's reaction to it while it's really volatile, it's not disorderly. So have a look at the equities and markets at the moment, when we’re looking at our books, the investors are gradually reducing down the asset class. It's not a sprint and a rush in the chaos to the door. Fraser On Globalization FRASER: Globalization has changed that we certainly see it. We have the benefit of operating in 160 countries as a local bank in ’97 and I'm extremely grateful for our local presence and the local capabilities because there's a lot more complexity and those nuances as we help companies manage supply chain dynamics. Where do they move, how do they reconfigure flows is a is a huge asset. I'm very grateful we have it. So it's becoming more local resilience is becoming important. Global transferability becomes very important for things like data, parts of value chain. Fraser On Warren Buffett Call EISEN: Well you did get a boost of confidence from Warren Buffett at Berkshire Hathaway Inc. (NYSE:BRK.A) (NYSE:BRK.B) in their latest filing. Was that, have you had interactions with the team there? FRASER: I was delighted to have a conversation with Mr. Buffett. Who wouldn’t enjoy that phone call. EISEN: He called you to say I’m buying your stock. FRASER: He just called me to connect. And we’re, as you’d imagine, he’s a wonder investor. We’re delighted to have him in and we hope there will be more investors that will be following his footsteps as after our team delivers the progress and we’ve always said the proof will be in the pudding and we’re delivering the pudding. Updated on May 23, 2022, 1:25 pm (function() { var sc = document.createElement("script"); sc.type = "text/javascript"; sc.async = true;sc.src = "//mixi.media/data/js/95481.js"; sc.charset = "utf-8";var s = document.getElementsByTagName("script")[0]; s.parentNode.insertBefore(sc, s); }()); window._F20 = window._F20 || []; _F20.push({container: 'F20WidgetContainer', placement: '', count: 3}); _F20.push({finish: true});.....»»

Category: blogSource: valuewalk7 hr. 18 min. ago

Georgia Tech pairs students with local governments and businesses to solve issues related to public safety and climate change. Here"s how it works and how it"s made the state more resilient and sustainable.

The Smart Community Corps summer program pairs students from Georgia Tech and other colleges to work on smart city projects like pedestrian planning. Kazi Awal/InsiderInterns using the Landgrid App to observe a Georgia neighborhood as part of the 2021 SCC Savannah Housing Blight Project.Courtesy of Georgia Tech The Smart Cities and Inclusive Innovation initiative at Georgia Tech strives for future-readiness. It helps solve problems like bringing internet to residents and provides opportunities for students. One program, Smart Community Corps, pairs students with smart city projects like traffic monitoring. This article is part of a series focused on American cities building a better tomorrow called "Advancing Cities." Atlanta and other cities and towns across Georgia face multiple challenges as they strive to become more future-ready, from ensuring residents have internet connectivity to minimizing coastal flooding to addressing public transportation issues.Debra Lam.Courtesy of Georgia TechThe Smart Cities and Inclusive Innovation (SCI2) initiative at the Georgia Institute of Technology in Atlanta is stepping in to help. SCI2 leverages research and development, strategic partnerships, technology, and grant funding to help communities across the state solve these problems. In turn, it also provides opportunities for students to learn in real-world environments, said Debra Lam, SCI2's managing director and the founding executive director for the Partnership for Inclusive Innovation (PIN), a statewide public-private partnership between Georgia Tech, the state of Georgia, civic leaders, and the business community.SCI2's work with Georgia communities starts with a "matchmaking conversation," where researchers learn about a municipality's needs, goals, and existing resources, Lam said. It's about "understanding the local context and trying to understand and isolate the problem. You're not coming in with a fancy solution at first and then trying to box it into something," she added. Some of the problems they help solve include transportation, public safety, and the effects of climate change.Lam's team then identifies what tools are available, such as data, hardware, or software, and how SCI2 can help from a multidisciplinary applied research standpoint."We have the flexibility to work with many researchers, regardless of their expertise or background," she said. "The way we think about smart cities, if you give an engineer a problem, he will think about it one way versus a computer scientist. But if you start pairing up the engineer with the public policy person or the city and regional planning person with the computer scientist, it really starts to create a synergistic kind of dialogue."Here's a closer look at how SCI2 is making Georgia communities more resilient and sustainable.Making roadways safer for drivers and pedestriansOne of SCI2's major projects is the North Avenue Smart Corridor in Atlanta, a two-mile "living lab" for studying multimodal traffic management that launched in 2017. It uses technology like street sensors and cameras to measure and track traffic, pedestrians, cyclists, and others on the road."It's trying to understand how we can safely and efficiently move traffic around North Avenue, which is a busy intersection," Lam said.The smart corridor project helped improve traffic flow and reduced vehicle crashes by 25% since its inception, Georgia Tech reported. In 2018, it also won the Mobility Award at the Smart City Expo World Congress, an international summit recognizing smart city projects around the globe.Collecting data on sea-level rises and broadband connectivity One of PIN's central programs is Smart Community Corps, a summer program supported by Microsoft and Gulfstream that pairs students from Georgia Tech and other colleges and universities in Georgia to work on real smart city projects."It's a cross between experiential learning and public service, where you can learn about smart cities by living and working in the community," Lam said.In 2021, students logged 5,280 hours on projects like traffic monitoring in Valdosta and smart pedestrian planning in Clayton County, according to Georgia Tech. For the 2022 cohort, more than 140 students applied for 33 spots.Clayton County smart pedestrian planning.Courtesy of Georgia TechPIN also runs the Georgia Smart Communities Challenge (GA Smart), which is in its fifth year and was previously led by SCI2. The program offers grants and research assistance from students and faculty to communities for two years to become more resilient in the future.Lam said 16 communities have gone through GA Smart, with projects including piloting sensors to measure sea-level flood risk along Georgia's coast, improving broadband connectivity, and studying autonomous shuttles connecting rapid transit stations around Atlanta's metro."We wanted to have a cohort of cities to show that there are a lot of different ways to do smart cities," Lam said, adding that all of PIN and SCI2's work is about empowering cities and "letting them tell us, 'Here's the problem or issue that we want to focus on.'"Read the original article on Business Insider.....»»

Category: topSource: businessinsider7 hr. 18 min. ago

After A Brief Detour Into Bear Country, The S&P 500 Appears To Be Heading Higher On Monday

This post contains sponsored advertising content. This content is for informational purposes only and not intended to be investing advice. (Monday Market Open) Equity index futures are pointing to a higher open as the 10-year Treasury yield (TNX) rose 55 basis points ahead of the market open. Rising yields suggest that investors may not be as worried about safe havens on Monday and some investors may be ditching bonds to buy stocks. Additionally, multinational companies may get some relief from sellers because the U.S. Dollar Index ($DXY) has pulled back 0.84% in premarket action.   Potential Market Movers With a decent close on Friday, buyers may be coming back into stocks which could provide some price stability. The Cboe Market Volatility Index (VIX) has fallen back below 30 but remains higher relative to its historic levels—a reminder to investors that we aren’t out of the woods yet. The VIX at these levels suggests that the market could still rise or fall by 1%. This means stocks are still susceptible to headline risk.   With that said, the Dow Jones Industrial Average ($DJI) may have a good start to ending its eight-week losing streak because the Dow futures rose more than 1% in premarket trading. However, there’s another busy week of earnings and economic announcements ahead including durable goods orders, FOMC meeting minutes, and the PCE price index. However, today’s calendar is relatively free of major economic or earnings reports. Earnings season is nearing its end. As of Friday, 474 of the S&P 500 (SPX) companies have reported quarterly earnings per Refinitiv. Some 77.6% of companies have reported better-than-expected earnings, higher than the long-term average of 66% but lower than the previous four-quarter average of 83.1%. Energy companies continue to dominate the earnings picture. The Q2 earnings growth rate for the S&P 500 is 11.1% but when energy is excluded, it falls to 5%. The energy sector has an earnings growth rate of 268.8%. Inflation continues to drive stock prices. The materials sector is second to energy in earnings growth at 46.2% as prices of raw materials remains high. Consumer discretionary is the worst-performing sector of the S&P 500, falling 28.3% as  consumer sectors are facing higher input costs that are slashing profit margins. The PCE price index, better known as the Federal Reserve’s favorite inflation measure, will be released on Friday. European markets assisted Monday’s bullish sentiment as the Stoxx Europe 600 was up 0.78% helped by positive news from Germany. The German IFO Business Climate Index and the nation’s  Business Expectations report unexpectedly rose in May, beating forecasts. The German DAX rose 0.88% on the news. The World Economic Forum’s annual meeting started today in Davos, Switzerland. While the meeting doesn’t normally move markets, it may be an important time for countries to reestablish relationships with shrinking risks from the pandemic making room for new ones on the geopolitical front.  Reviewing the Market Minutes The S&P 500 (SPX) traded briefly into ...Full story available on Benzinga.com.....»»

Category: earningsSource: benzinga7 hr. 48 min. ago

I flew first class on Delta"s new Airbus A321neo and think it"s a perfect place to relax and work — see more

Delta's ordering a new fleet of Airbus A321neos, which feature a completely redesigned first-class cabin. It's a thoughtful upgrade over older planes. Jennifer Bradley Franklin Delta's new passenger plane, the Airbus A321neo, has a completely redesigned first-class cabin. I flew first class on the plane from Atlanta to Boston before it made its public debut last week.  Not only did I love the design aesthetic, but I also found it to be a great place to relax and work. Delta's brand-new passenger plane, the Airbus A321neo, comes with an entirely redesigned first-class cabin.DeltaEach A321neo features 20 new domestic first-class seats with increased privacy, storage, and a roomier space for dining, relaxing, and working in the air.DeltaDelta’s new A321neo fleet is powered by Pratt & Whitney GTF engines, and the new planes offer 20% better fuel efficiency compared to Delta’s current A321ceos. The airline plans to add 26 A321neos to its fleet in 2022.DeltaThe refreshed look and feel of the first-class cabin on Delta's new A321neo is evident as soon as I board the plane. The new winged seat back has a futuristic look, but it's functional too, designed to offer increased privacy.Jennifer FranklinThe overall aesthetic on the new plane is inviting, with a modern back-lit ceiling design that spans the length of the cabin — from first class to the rear galley.DeltaIt drew my eye upward and made the cabin feel roomier somehow.Jennifer Bradley FranklinTo create the new domestic first class, Delta worked with Recaro and Factorydesign, using five years of customer and service crew feedback.Jennifer Bradley FranklinOne of the new features is a fixed tray in between the pairs of seats — a convenient, dedicated place for pre- or in-flight drinks.Jennifer Bradley FranklinDelta configured the new A321neo with 194 seats: 20 in domestic first-class, 42 in Delta Comfort+, and 132 in the main cabin. The company plans to purchase a total of 155 of these planes through 2027.DeltaSource: DeltaWhen I settled into my first-class seat at 3B on Delta’s Airbus A321neo, I was struck by the thoughtful storage that placed everything I needed at my fingertips during the flight.Jennifer FranklinThere was a large seat-back pocket for magazines, a stationary ledge for drinks between the seats, a water bottle holder tucked next to my seat, a cubby sized for a mobile phone or e-reader, and a tall compartment at my feet. It had more than enough space for my 13-inch computer and a notebook.DeltaI love Delta's new amenity kits (typically available only in Delta One, but shown as an example for this flight), made in partnership with Mexico-based artisan collective Someone Somewhere.Jennifer Bradley FranklinSource: DeltaThe kits come in five different patterns (mine was a cheerful red and blue textile) and includes products such as a Someone Somewhere woven eye mask, Humble Co. bamboo toothbrush and toothpaste, and Grown Alchemist lip balm and lotion.Jennifer FranklinEach amenity kit comes with the Someone Somewhere artisan's name and location (mine was by a female artisan named Maria in Michoacán) and a QR code so guests can learn more about the person who made the kit by hand.Jennifer Bradley FranklinI also like that there was no plastic packaging — or even a zipper — on the kit. I'm told that the switch away from single-use plastics is helping reduce Delta's annual plastic waste by 90,000 pounds annually.DeltaWhen the lights are low, the new blue track lighting above the overhead bins and the artful ambient lighting over the aisle provide an attractive glow.Jennifer Bradley FranklinMy flight was only two hours and 20 minutes, so I didn't need to sleep, but it helped create a relaxing environment.Delta Air LinesThe headrest adjusts up to accommodate taller guests, and the sides of the headrest fold in to hug your head.Jennifer FranklinI was impressed by how secure the headrest felt when folded in — if I were sleeping, I could see it being a viable alternative to a travel pillow.Jennifer Bradley FranklinPlus, all of the seats (even those in the other cabins) are upgraded with plush memory-foam.DeltaDelta's A321neo fleet went into service on May 20, 2022 from Boston to San Francisco, along with its new Pratt & Whitney GTF engines.Jennifer Bradley FranklinIn the plane's newly designed domestic first-class cabins, the engine noise seemed significantly quieter than in the A321ceo.DeltaThe new first-class design features a bi-fold tray that measures 22 by 10 inches, more than enough space to hold my 13-inch MacBook Pro.Jennifer Bradley FranklinI could see myself leveraging this effective workspace in the air and knocking out some serious work on a domestic long-haul flight.Jennifer FranklinThe first-class seat backs have a leather-covered ledge that provides enough grip to securely hold a phone or other device. There are plenty of places to stash or set any items you might need during the flight.Jennifer Bradley FranklinThe futuristic-looking "wings" on the new domestic first-class seats really do provide increased privacy, both from your immediate neighbor and shielding passengers sitting ahead of you from view.Jennifer Bradley FranklinThree personal overhead lights per row of two first-class seats mean that there's ample lighting to work, read, or chat with your seatmate, even if the main cabin lights are dimmed during the flight.Jennifer Bradley FranklinAs an Atlanta native, it was nice to see drinks by Atlanta-based canned cocktail maker Tip Top Proper offered on the flight. I indulged in a margarita that came on ice, served in Delta's signature Alessi-designed glass.Jennifer Bradley FranklinThe new first-class cabins on Delta's A321neos have charging ports right next to the seat (instead of underneath the seat, like in most older planes), making it convenient to keep all of your devices fully charged.Jennifer Bradley FranklinThere were three different meals offered on my Atlanta to Boston flight, including a warm veggie plate and a chicken breast over black rice. I opted for the Impossible Burger topped with manchego cheese and caramelized onions.Jennifer Bradley FranklinServed alongside a butternut squash salad and blueberry-lemon cheesecake with white-chocolate shavings, the vegetarian Impossible Burger was a nice blend of decadent and healthy. The roomy bi-fold tray had plenty of space for me to spread out to enjoy my meal.Jennifer Bradley FranklinAll seats, no matter the cabin, come with screens for passengers to take advantage of the more than 1,000 hours of in-flight entertainment through Delta Studio.DeltaDelta recently made the decision to offer gratis headphones to passengers so they can take advantage of in-flight entertainment through the seat-back screens.DeltaIf you're like me and often forget to pack earbuds with a plane-compatible jack, it's nice to have them offered at no charge.Jennifer FranklinSince I had a row to myself for this "ferry flight" to move the plane from Atlanta to Boston in advance of its inaugural passenger journey on May 20, 2020, I shifted to the window seat for the descent, to watch the Massachusetts coast go by.Jennifer Bradley FranklinBefore I knew it, the flight was over, and it was time to hustle through Boston's Logan International Airport to catch my next plane.Jennifer Bradley FranklinWhile this flight was only two hours and 20 minutes, these Delta A321neos will begin serving longer-haul transcontinental flights, initially from Boston to San Francisco, with more routes planned for this year.Jennifer Bradley FranklinMy short experience made it clear that this new first-class cabin design could make for a comfortable longer journey.Jennifer Bradley FranklinRead the original article on Business Insider.....»»

Category: topSource: businessinsider7 hr. 50 min. ago