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The Instant Pot deals we expect to see on Prime Day 2021

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Category: worldSource: nytMay 25th, 2021

Wealthy Germans Fearing Leftist Victory In Sunday"s Vote Scramble To Move Fortunes To Switzerland

Wealthy Germans Fearing Leftist Victory In Sunday's Vote Scramble To Move Fortunes To Switzerland With Chancellor Angela Merkel's 16-year reign set to conclude following this weekend's German federal election, the broader German political landscape is about to change for the first time in two decades. And with Merkel's dynastic CDU/CSU continuing to slide in the polls, a situation that we first sketched out four weeks ago remains likely: a party that has ruled Germany for 50 of the past 70 years and began to see the chancellery as its natural birthright is now facing the real prospect of being booted out of power. The latest polls show the CDU/CSU in second place behind center-left rivals SPD. But even more concerning (particularly for the country's wealthy) are the gains being made by the greens, and a far-left party known as Die Linke, the ideological and political heir to the East German socialists who ruled over East Germany during the cold war. To the CDU/CSU, these far-leftists are just as unpalatable as the AfD, a stridently right-wing party that has been the most successful right-wing movement in terms of its representation in the Bundestag. Source: the Guardian But increasingly, the CDU's Armin Lascet, the candidate running to succeed Merkel from her own party, has pressed the Social Democrats and their candidate, Olaf Scholz, to pledge not to form a coalition government with Linke, with whom the SPD is probably closer in terms of policy than the pro-business Free Democrats, according to Reuters. Per a different Reuters report, few expect this to happen - the Linke are polling at just 6%, half the liberals' 11%, which probably wouldn't be enough to give Scholz the required parliamentary majority. But for some investors, it is a risk that should not be overlooked. "Inclusion of the Linke in a governing coalition would, in our minds, represent the single biggest wild card by far for financial markets from the German elections," said Sassan Ghahramani, chief executive of U.S.-based SGH Macro Advisors, which advises hedge funds. Still, for the wealthy and the investing class, it's a risk that shouldn't be overlooked. "Inclusion of the Linke in a governing coalition would, in our minds, represent the single biggest wild card by far for financial markets from the German elections," said Sassan Ghahramani, chief executive of U.S.-based SGH Macro Advisors, which advises hedge funds. Which is why thousands of wealthy Germans are scrambling to stash their wealth in Switzerland ahead of the Sept. 26 vote, according to Reuters. If the center-left Social Democrats, hard-left Linke and environmentalist Greens come to power, the reintroduction of a wealth tax and a tightening of inheritance tax could be on the political agenda. "For the super-rich, this is red hot," said a German-based tax lawyer with extensive Swiss operations. "Entrepreneurial families are highly alarmed." What's more, Linke policies such as a rent cap and property taxes for millionaires would be enough to spook many in Germany's business class. Specifically, the SPD wants to reintroduce a wealth tax and increase inheritance taxes, while the Greens (their most likely potential coalition partner) hope to tax Large fortunes more heavily. Although both envision raising income tax for top earners, a tax on assets would raise much more money, the tax lawyer said. Most assume that a victorious Scholz - a strait-laced finance minister and a former mayor of Hamburg - would include the Free Democrats as a moderating influence in his coalition. Both the SPD and the Greens have ruled out working with any party refusing to commit to Germany's commitments under the NATO military alliance, or Germany's EU membership. Linke has questioned both. But either way, the fear of a left-wing government, possibly one with links to Germany's Communist Past, has shown just how many wealthy Europeans still see Switzerland as a safe haven for wealth, despite the country's efforts to abolish its image as a safe haven for billionaires. No country has more offshore assets than Switzerland. Inflows accelerated in 2020, to the benefit of UBS, Credit Suisse and Julius Baer. BIS data show deposits of German households and companies at banks in Switzerland climbed almost $5 billion to $37.5 billion during Q! of 2021. Note: this does not include shares, bonds or financial products. If we had to guess, that trend has likely continued as CDU's lead in the polls has shriveled. According to Reuters, more recent data aren't available, but insiders say the inflows have continued: "I have booked an above-average amount of new money as in the past three months," said a veteran client adviser at a large Swiss bank who deals mainly with Germans. One wealthy manager described the trend thusly: "Many wealthy people, especially entrepreneurs, fear that there will be a lurch to the left in Germany - no matter how the elections turn out." Another added: "I know a number of German entrepreneurs who want to have a foothold outside Germany if things get too red there". Tyler Durden Sat, 09/25/2021 - 10:55.....»»

Category: blogSource: zerohedgeSep 25th, 2021

12 luxury hotels on the Las Vegas Strip that will make you feel like a high roller without spending like one

These are the best luxury hotels in Las Vegas on the Strip in 2021, from the hotel-within-a-hotel The Palazzo at the Venetian to the Four Seasons. When you buy through our links, Insider may earn an affiliate commission. Learn more. TripAdvisor Las Vegas hotels offer opulent luxury at surprisingly cheap prices. Many five-star stays on or near the Las Vegas Strip often start under $250 per night. The best luxury hotels in Las Vegas boast spacious suites, private pools, excellent views, and more. Table of Contents: Masthead StickyThere's plenty to gamble on in Las Vegas, but you don't have to risk the odds when it comes to choosing a hotel. Las Vegas is one of the few US cities where a luxury hotel can regularly start under $250 per night, sometimes as low as $75 to $100. Of course, weekends and high seasons will bring increased prices, but with a little sleuthing you might just snag a great deal so you can save those extra dollars for Sin City's casino floors, top-notch restaurants, and world-class entertainment. Browse all the best luxury Las Vegas hotels below, or jump directly to a specific area:The best luxury hotels in Las VegasFAQ: Luxury hotels in Las VegasHow we selected the best Las Vegas luxury hotelsMore of the best places to stay in Las VegasThese are the best luxury hotels in Las Vegas, sorted by price from low to high. Signature at MGM Grand Every room here is a suite with apartment-like features. Tripadvisor Book Signature at MGM GrandTypical starting/peak prices: $89/$320Best for: Families, business travelersOn-site amenities: Pool, restaurants, shopsPros: All rooms are quiet, apartment-style suites with kitchenettes and are close to the action but removed from the party atmosphere.Cons: The walk to MGM Grand is long and some may view the off-Strip location and lack of a casino as a con.The Signature is an all-suite hotel set back from the MGM Grand's main resort and casino but is still easily accessible to it by indoor walkways. There's no casino on-site, which means the crowd is less rowdy, and the hotel feels peaceful. There are fewer amenities too, though all of the restaurants, entertainment, and wellness found at MGM Grand are just steps away. We once used the Chase Sapphire Reserve card to book here and scored extra perks such as free upgrade, late checkout, and complimentary food and beverage credit. Spacious suites are quiet and include spa baths, flat-screen TVs, separate sitting areas, balconies, and kitchenettes for an apartment-like experience. It's a great fit for a family or someone in town for business on an extended stay.COVID-19 procedures are available here. NoMad Las Vegas The luxe NoMad has its own sleek pool that is private from guests at adjacent Park MGM. Trip Advisor Book NoMad Las VegasTypical starting/peak prices: $99/$345Best for: Couples, friendsOn-site amenities: Spa, salon, fitness center, restaurants, Moroccan-themed pool deck just for NoMad guestsPros: The hotel feels in-the-know and stylish, hidden away from the throngs filling Park MGM, while still offering easy access to its amenities. Cons: The hotel within a hotel concept is intimate, and lacks the big Vegas punch of other big resorts.Located on the upper four floors of the Park MGM Las Vegas, the NoMad Las Vegas is the third location from the luxury NoMad hotel group with properties in New York and Los Angeles.It's one of many hotel-within-a-hotel concepts that are popular in Las Vegas (and within this list) for a more intimate, boutique-quality that feels rare in this town of mega-resorts. Rooms are decadent and design-forward featuring hardwood floors, velvet furnishings, and standalone soaking bathtubs in the bedroom.COVID-19 procedures are available here. Aria Resort & Casino Aria has a 150,000-square-foot casino, 16 restaurants, and more than 4,000 rooms. Trip Advisor Book Aria Resort & Casino Las VegasTypical starting/peak prices: $107/$359Best for: Groups of friends, couplesOn-site amenities: Casino, 16 restaurants, CityCenter shops, nightclub, huge spa, three pools, fitness centerPros: Rooms boast high-end technology for an exceptionally comfortable stay and the location is very central to the Las Vegas Strip.Cons: Food is pricey on property, as is the resort fee.Located on the Las Vegas Strip within the CityCenter complex, Aria is a glittering curvilinear property with a 150,000-square-foot casino, 16 restaurants, and more than 4,000 rooms. Opened just a decade ago, rooms feature fully tricked-out tech, including a one-touch room control system to adjust lighting, curtains, and more from the touch of a tablet.Hakkasan Group's Jewel nightclub is located here, as is a huge spa with 62 treatment rooms, and three pools, including the Liquid pool club for grown folks.Plus, the location is central, close to the City Center, conference events, and all the Strip action.COVID-19 status and policies available here. The Venetian Resort Las Vegas Even the cheapest standard rooms are suites with separate living areas. The Venetian Book The Venetian Las VegasTypical starting/peak prices: $113/$399Best for: Families, first-time visitors, couples, business travelersOn-site amenities: Casino, theater, night club, Grand Canal Shoppes, multiple pools, 80 restaurants, bars, spa, fitness centerPros: Even entry-level rooms at this all-suite hotel are impressively large, and it's tough to beat taking an indoor gondola around. Cons: The opulent style might not be to your tastes if you prefer a sleeker, modern look. This five-star Las Vegas Strip resort is one of the most instantly recognizable resorts on the Las Vegas Strip. Drawing inspiration from Italy, it's best known for its indoor canals and gondola rides, modeled off its namesake city. However, vast interiors show off an array of architectural styles and swathes of Renaissance-era aesthetics, and the hotel is one of the most visually impressive in a city of decadent hotels.There are 80 restaurants — including Thomas Keller's Bouchon — a glittering casino, the Grand Canal Shoppes, and a pool deck that covers 1.2 acres, and every room is a suite, and huge, starting at 650 square feet.The Venetian also connects to the Sands Expo & Convention Center, and guests are granted access to the Canyon Ranch Spa Club gym.COVID-19 procedures are available here.Read our full hotel review of The Venetian Encore at Wynn Las Vegas The Encore is the Wynn's take on a boutique hotel. Oyster.com Book the Encore at WynnTypical starting/peak prices: $115/$410Best for: Groups of friends, couples, familiesOn-site amenities: Encore-only pool, access to Wynn's mega-complex of restaurants, bars, nightclubs, spa, pools, gym, and even a golf course.Pros: This hotel has a boutique vibe with all the perks of a huge resort that caters to a sleek set.Cons: Room pricing is volatile and can swing dramatically in either direction.Not to be confused with the Wynn itself, the Encore is the Wynn's take on a boutique offering. It also comes with all the benefits of being housed within a parent property.While guests of the Wynn can't use Encore facilities, such as the pool, all those booked at Encore are allowed privileges at both. I've scored cheaper deals at Encore, though historically it's sometimes more expensive than Wynn. If you like the glitz of the Wynn but think it feels too overwhelming, or prefer a more intimate approach, the Encore offers a solid alternative.COVID-19 procedures are available here. Nobu Hotel at Caesars Palace Nobu Hotel is zen and quiet, with 182 stylish, Japanese-inspired rooms and suites. Trip Advisor Book Nobu Hotel at Caesars Palace Las VegasTypical starting price: $116/$447Best for: Couples, business travelersOn-site amenities: Nobu restaurant, pool, spa, the full slate of dining, shopping, and entertainment available at adjacent Caesars PalacePros: The hotel is quiet and private with a gorgeous Japanese-inspired design by noted architect David Rockwell.Cons: There is a steep resort fee of $45 per night plus tax.Inside the blockbuster 85-acre, 3,960 room resort Caesars Palace, the intimate Nobu Hotel is tucked away as a boutique hotel-within-a-hotel concept, created by the famed sushi chef of the same name. If Caesars is frenetic and bustling, Nobu Hotel is uber-Zen and quiet, with 182 stylish, Japanese-inspired rooms and suites. Staying here feels a bit like being a celebrity, with added VIP perks.Rooms channel Japanese traditions with deep soaking tubs and come with free Wi-Fi, a 55-inch flat-screen TV, an iPod docking station, and Natura Bisse toiletries, as well as priority seating at Nobu Restaurant and Lounge. Nobu Hotel guests also have access to a private front desk and lounge, the Venus Pool at Caesars Palace, expedited line privilege at OMNIA nightclub, a complimentary Friday social hour, and a dedicated hotel concierge.COVID-19 procedures are available here. Bellagio Las Vegas We love the Bellagio for its central location, designer shopping, and iconic fountain show. TripAdvisor Book Bellagio Las VegasTypical starting/peak prices: $119/$475Best for: Families, first-time visitors, business travelersOn-site amenities: Casino, multiple restaurants and bars, nightlife, spa, pool, designer shoppingPros: This is a fashionable hotel with a classy casino, excellent shopping, and a must-try buffet. Cons: You'll have to brave the summer heat to score cheap prices here.The Bellagio draws a consistent crowd for its central Strip location, popular casino, designer fashion, and curated art, including the signature Dale Chihuly glass installation hanging from the lobby ceiling.It's also a huge draw to those craning for a front-row view of the dancing fountains, and there's no better spot than a room overlooking the action. We've reviewed the balcony room facing the fountains and can confirm it's one of the best rooms on the Strip. Plus, in what's clearly a competitive field, they might have one of the best buffets in Las Vegas, though that's subject to change in a post-pandemic world. COVID-19 procedures are available here.Read our full hotel review of Bellagio Las Vegas Wynn Las Vegas The Wynn is renowned as one of the best on the Strip with world-class amenities, dining, gambling, and entertainment. Booking.com Book the Wynn Las VegasTypical starting/peak prices: $131/$497Best for: Groups of friends, couples, families, first-time visitors, business travelersOn-site amenities: Casino, designer shops, entertainment theater, fitness center, spa, pools, multiple restaurants and barsPros: No detail is overlooked at this stunning resort with a beautiful pool and spa area, beautiful guest rooms, and plenty to keep you on-site.Cons: Some might view the Strip location as far from other attractions, and prices surge in the high season.I once stayed at this luxury resort and casino and was blown away by the level of detail and thoughtfulness in each generously appointed guest room. The design is immaculate with a clean, modern palette and smart-enabled features that only add to an air of sophistication. Since then, the hotel's reputation has only continued to grow as one of the best on the Strip with world-class resort amenities, dining, gambling, and entertainment. There's a reason it's consistently rated as one of the best places to stay in Vegas and if you can secure a good deal, this might be one of the best places to book.COVID-19 procedures are available here.Read our full hotel review of the Wynn Las Vegas Waldorf Astoria Las Vegas A posh pool deck strikes a serene tone. Trip Advisor Book the Waldorf Astoria Las VegasTypical starting/peak prices: $139/$384Best for: Couples, business travelersOn-site amenities: French restaurant, 3 pools, spa, fitness center, easy access to CityCenter complexPros: The Waldorf is a leading figure in luxury and this location is no exception.Cons: A major renovation was delayed due to COVID.Travelers accustomed to the highest level of hospitality book this five-star property known for immaculate service and spacious rooms that start at 500 square feet with extravagant soaking tubs.With no casino on-site, it's another great option when you prefer a more blissful stay. If you come to Vegas for luxe spas, pools, and dining, this is a great bet.COVID-19 procedures are available here. The Palazzo at the Venetian Spread out in standard suites with ample living spaces, plush bedding, sleek bathrooms, all the amenities of the Venetian. TripAdvisor Book The Palazzo at The VenetianTypical starting/peak prices: $142/$399Best for: Groups of friends, couples, familiesOn-site amenities: Pool, spa, access to the Venetian's casino, restaurants, bars, and nightclubs, and entertainment.Pros: This is like a higher-end version of The Venetian with close access to all its attractions.Cons: While prices in summer are cheap, expect them to skyrocket at other times when it's more comfortable to visit the desert.While The Venetian is perhaps more well-known, and cheaper, consider a stay at its sister property, The Palazzo.Newer and more low-key but equally refined, even The Palazzo's standard rooms are dubbed Luxury Suites and are not only more up-to-date than entry-level Venetian offerings but significantly larger. Spread out with ample living spaces, plush bedding, sleek bathrooms, and relish in the fact that your room is just steps from tons of the Strip's best attractions, plus all that the Venetian has to offer.COVID-19 status and policies available here. The Cosmopolitan of Las Vegas, Autograph Collection Bold, sleek, decor shines on the casino floor, especially in the signature Chandelier Bar. Tripadvisor Book The Cosmopolitan of Las Vegas, Autograph CollectionTypical starting/peak prices: $150/$500Best for: Groups of friends, couplesOn-site amenities: Celebrity chef-driven restaurants, several bars and lounges, a pool deck with dive-in movie nights, gym, Drybar salonPros: Staying at Cosmo offers the trimmings of a Las Vegas resort in a boutique format. The central location is one of the best on the Strip, and balcony views are hard to come by elsewhere.Cons: In high season, expect the starting rate to at least double.The Cosmopolitan is trendy, hip, and sophisticated, and generally feels like you're hanging out inside a chandelier (likely why they have a bar named after one). It's a favorite among those visiting Las Vegas who want to join in on nightlife action over betting at tables, though the latter is readily available too. Plus, it's one of the few hotels with balconies — request one facing Bellagio for a great view of the fountain show.A member of the Autograph Collection of hotels, it's also a great way for Marriott Bonvoy members to earn and redeem points. Book here if you're looking to blur the lines between a glam getaway and a healthy dose of revelry.COVID-19 procedures are available here.Read our full hotel review of The Cosmopolitan of Las Vegas The Four Seasons Hotel Las Vegas There's a private, tranquil pool area just for Four Seasons guests, plus all the perks and attention to detail associated with the brand. Trip Advisor Book the Four Seasons Hotel Las VegasTypical starting/peak prices: $250/$495Best for: Couples, business travelersOn-site amenities: Private pool only for Four Seasons guests, all the bars, restaurants, spa of Mandalay Bay.Pros: Enjoy top luxury accommodations with impeccable service and a private pool that is separate from the more raucous Mandalay Bay.Cons: The Mandalay Bay crowd can be rowdy, and you still have to navigate that space to find the Four Seasons. The location is also at the far end of the Las Vegas Strip.The Four Seasons is a symbol of luxury and one that often comes with an accompanying high price tag. However, I've seen deals around $200 per night at this location hidden within Mandalay Bay, and it's widely regarded as one of the nicest hotels in Vegas.Rooms feel like a scintillating oasis of luxury, cocooned away from the frenetic pace of the Strip, though, it's right there when you choose to seek it out. There's a private, tranquil pool area for Four Seasons guests only, plus all the perks and indulgent attention to detail you'd expect from a Four Seasons.COVID-19 procedures are available here. FAQ: Luxury hotels in Las Vegas Westend61/Getty Images Where is Las Vegas?Las Vegas is located in the southern tip of the state of Nevada, near the borders of both California and Arizona. When will I find the best deals on Las Vegas luxury hotels?You'll often find the cheapest hotel prices in Las Vegas midweek in summer, when scorching hot temperatures keep most travelers away, or in the winter, after New Year's Day, when it's still too cool to hit the pool. Once the temperatures turn milder, expect prices to rise.Much of Las Vegas tourism also revolves around an annual convention calendar, which often drives up hotel prices. Holidays also see an influx of crowds.Why are Las Vegas hotels cheap?Because Vegas resorts make most of their profits on the casino floor, cheap room rates are intended to attract guests who will then spend their extra money on slots and tables.As Las Vegas is located in a desert climate, you can expect hot, hot summers and cool winters. No matter when you visit, it's likely to be chilly at night. Early winter and spring, however, offer the nicest, mildest weather when it will be the most comfortable to stroll the Las Vegas Strip or lounge at the pool.Though, if you're planning to spend most of your time indoors on the casino or convention floor, the weather likely won't be a big factor when considering the time of year to visit.Is Las Vegas open?Las Vegas is open, without restrictions involving capacity limits and large gatherings.However, the State of Nevada has mandated that everyone, including fully vaccinated individuals, wear a mask in public indoor settings, including resorts and casinos, restaurants, bars, showrooms, and meeting spaces. Masks are also required on public transportation.Large indoor events also have masks, testing, and vaccination requirements so check before arriving both with local Las Vegas mandates, the Nevada Health Response updates, as well as your individual hotel and destination.Is it safe to stay in hotels right now?The CDC says fully vaccinated people can safely travel in the US. And, with added caution, experts we spoke to said it is safe to stay in a hotel.  How we selected the best Las Vegas luxury hotels All hotels are five-star stays with exceptional luxury service, decor, rooms, amenities, and high-quality attractions.Hotels have been personally visited and/or vetted by our team of reviewers whenever possible, and include accompanying reviews in most cases.Every standard room in this list feels like you've upgraded to a suite or more indulgent offering.Hotels are also loved by guests with top ratings and reviews on sites such as Trip Advisor, Booking.com, and Hotels.com.All of these luxury hotels are priced under $250 per night to start in the low season. For this guide, we looked for hotels on or right near the Strip. However, you may also want to consider some of the best Vegas hotels off the Strip too.All hotels also have updated COVID-19 policies, which we've outlined below.Hotel rooms are sophisticated and spacious, even for entry-level, standard rooms. More of the best places to stay in Las Vegas Airbnb The best cheap hotels in Las VegasThe best Las Vegas hotels off the StripThe best Las Vegas hotel suites for all budgetsThe best Las Vegas Airbnbs Read the original article on Business Insider.....»»

Category: worldSource: nytSep 24th, 2021

Target (TGT) Holiday Season Preps Include More Working Hours

Target (TGT) to provide five million more working hours to its existing store employees. It will hire 100.000 seasonal workers to support the current team. With the holiday season approaching, retailers are already swinging into action with preparations to giddy up for the busiest time of the year. The customary prepping for the festive season has set into motion early this year, thanks to tight labor market conditions. Amid retailers striving hard to hire extra manpower, Target Corporation TGT has come up with a different set of plans for the festive season.The retail biggie plans to provide five million more working hours to its existing store employees, which will result in an increase in pay by more than $75 million. The company will provide greater flexibility to workers in terms of choosing or swapping their shifts through a mobile scheduling app. Apart from this, the company will hire 100,000 seasonal workers to support its current team. Let’s dig deeper.Relying on Existing Worker Strength to Tackle Festive RushTarget’s plans to invest more in its existing workforce this festive season looks prudent as it tries to get around the issue of industry-wide worker shortages.  The company will provide its current workforce the opportunity to work additional hours if they are interested. Team members can avail scheduling preferences based on their own choices. To make scheduling more convenient, Target has come up with an easy-to-use mobile scheduling app. Store employees can easily choose additional hours and switch available shifts. Workers who opt for work "on demand" can chose shifts that align with their schedules. Such options are popular among team members who are students, retirees and individuals who prefer flexibility.Target has been working toward boosting its store staff modeling capabilities to provide consistent schedules and paychecks as well as leverage new technologies and training. Management highlighted that, on average, its hourly team members are already working nearly 15% more hours than a year ago. The company is also offering back-up training options to its team members for nearly a year to support demand in areas like Order Pickup and Drive Up. The training has helped employees to work an additional four to eight hours a week. This year, based on employee feedback, the company will provide the option of back-up training for all team members.Throughout the holiday season, the company will continue to have dedicated front-of-store team members focused on safety and cleaning precautions. Target expects to meet the seasonal rise in demand by providing efficient same-day delivery services. Over the last two years, the company has been boosting its employee strength for store fulfillment. Target will also hire 100,000 seasonal team members at stores across the country to support its current team. Suitable seasonal workers will have the opportunity to remain with Target after the holiday season. The company’s hiring plans are comparatively smaller than previous years, as it invests in its current team for more flexible scheduling, training, pay and benefits.Management believes that by investing and caring for its workforce, the company is able to better manage attrition and enhance customer services. In 2020, the company invested an additional $1-billion for the health and well-being of employees compared with 2019. This includes the company’s bold industry-leading move of providing a $15-starting wage for all workers.  Last year, it provided five pandemic-related recognition bonuses and a number of benefits that have recently transitioned into ongoing benefits. In July 2021, the company awarded a $200 recognition bonus to all frontline hourly full-time and part-time team members across stores, distribution centers and contact centers. Per a recent announcement, its U.S.-based part-time and full-time team members will be offered a comprehensive debt-free education assistance program.Other Retailers Ramping Up for the HolidaysThe holiday season is traditionally characterized with high demand as consumers shop for gifts and themselves, making use of attractive deals and offers at this time of the year. Manpower is crucial for several big-box retailers in order to manage high consumer traffic — across digital and brick-and-mortar platforms — as well as to ensure smooth flow of merchandise and delivery services.While Target is opting to bank on its current team along with new recruits this year, other retailers are also up and about with their hiring plans. Supermarket biggie — Walmart Inc. WMT — announced plans to appoint 20,000 new workers at more than 250 distribution centers, fulfillment centers and transportation offices. Macy's, Inc. M plans to hire 76,000 full- and part-time job employees, across stores, call centers, distribution facilities and fulfillment centers. Kohl's Corporation KSS intends to recruit nearly 90,000 seasonal workers for several roles at its stores, distribution centers and e-commerce fulfilment centers.Image Source: Zacks Investment ResearchWrapping UpWe expect Target to benefit from its well-chalked plans to boost hours and pay for employees, as it gets ready to roll into the holiday season. Apart from this, the company’s well-acclaimed omni-channel services, robust product assortments, loyalty programs and efforts to enhance supply chain capabilities bode well.Shares of this Zacks Rank #3 (Hold) company have gained 25.9% in the past six months compared with the industry’s rise of 15.5%.You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Time to Invest in Legal Marijuana If you’re looking for big gains, there couldn’t be a better time to get in on a young industry primed to skyrocket from $17.7 billion back in 2019 to an expected $73.6 billion by 2027. After a clean sweep of 6 election referendums in 5 states, pot is now legal in 36 states plus D.C. Federal legalization is expected soon and that could be a still greater bonanza for investors. Even before the latest wave of legalization, Zacks Investment Research has recommended pot stocks that have shot up as high as +285.9%. You’re invited to check out Zacks’ Marijuana Moneymakers: An Investor’s Guide. It features a timely Watch List of pot stocks and ETFs with exceptional growth potential.Today, Download Marijuana Moneymakers FREE >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Macys, Inc. (M): Free Stock Analysis Report Target Corporation (TGT): Free Stock Analysis Report Kohls Corporation (KSS): Free Stock Analysis Report Walmart Inc. (WMT): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksSep 24th, 2021

Why Is Box (BOX) Down 1.8% Since Last Earnings Report?

Box (BOX) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues. A month has gone by since the last earnings report for Box (BOX). Shares have lost about 1.8% in that time frame, underperforming the S&P 500.Will the recent negative trend continue leading up to its next earnings release, or is Box due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers. Box Q2 Earnings and Revenues Top EstimatesBox reported second-quarter fiscal 2022 earnings per share of 21 cents, which surpassed the Zacks Consensus Estimate by 23.5%. Further, the figure surged 16.7% from both the year-ago period and fiscal first-quarter 2022.Total revenues were $214.5 million, surpassing the consensus mark by 0.9%. Also, the top line increased 12% year over year and 5.9% from fiscal first-quarter 2022.Growing adoption of Box’s Content Cloud drove top-line growth.Further, it closed 74 deals during the fiscal second quarter, up 16% year over year.Additionally, the company saw a record 73% attach rate of its suites due to increasing demand for multi-product suite offerings.Box’s net retention rate was 106% at fiscal second quarter-end, up 300 basis points (bps) from the prior quarter. The increase was driven by strength in customer expansion and retention.Notably, increasing work-from-home and learning online trends as well as rising demand for cloud applications as a result of the ongoing coronavirus pandemic are likely to continue benefiting the company in the upcoming period.Billings and Deferred RevenuesBillings were $213.1 million for the reported quarter, which increased 13% year over year. This improvement was due to increase in sales from both Enterprise and SMB.Deferred revenues were $422 million, improving 16% from the prior-year quarter.Quarter in DetailBox witnessed several wins and expansions with companies like Arc’teryx, Live Nation, Pan-American Life Insurance Group, the Reserve Bank of New Zealand, Tokyo Electron Ltd., and the U.S. Small Business Administration in the reported quarter.The company rolled out e-signature capability, Box Sign, to help businesses in digitizing and modernizing agreements, which is worth mentioning.Additionally, its integration with Service Now’s Legal Service Delivery application was made generally available in the reported quarter.Further, Box’s deepening partnership with BT for organizing, managing and distributing digital assets supported the quarterly results.Operating ResultsNon-GAAP gross profit for the fiscal second quarter was $159.8 million, up 13% year over year. As a percentage of revenues, the figure expanded 100 bps from the prior-year quarter.Box’s operating expenses of $159.8 million increased 10.6% year over year. As a percentage of revenues, the figure contracted 62 bps from the year-ago quarter.On a non-GAAP basis, the company recorded operating margin of 21%, which expanded 500 bps from the prior-year quarter.Balance Sheet and Cash FlowAs of Jul 31, 2021, cash and cash equivalents were $779.4 million compared with $561.5 million on Apr 30, 2021. Also, its short-term investments amounted to $50 million, flat with the previous quarter.Accounts receivables amounted to $134.4 million at fiscal second quarter-end, which increased from $112.3 million at prior quarter-end.Further, the company generated $44.8 million of cash from operations in the reported quarter, down from $94.8 million in the previous quarter. Additionally, it generated free cash flow of $29.8 million in the fiscal second quarter.GuidanceFor third-quarter fiscal 2022, Box expects revenues between $218 million and $219 million. On a non-GAAP basis, the company projects earnings per share of 20-21 cents.For fiscal 2022, Box has raised its revenue guidance from $845-$853 million to $856-$860 million. On a non-GAAP basis, the company projects earnings per share of 79-81 cents.How Have Estimates Been Moving Since Then?It turns out, estimates review have trended upward during the past month. The consensus estimate has shifted -60% due to these changes.VGM ScoresAt this time, Box has a nice Growth Score of B, though it is lagging a lot on the Momentum Score front with an F. However, the stock was allocated a grade of C on the value side, putting it in the middle 20% for this investment strategy.Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in.OutlookEstimates have been trending upward for the stock, and the magnitude of these revisions looks promising. Notably, Box has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months. Time to Invest in Legal Marijuana If you’re looking for big gains, there couldn’t be a better time to get in on a young industry primed to skyrocket from $17.7 billion back in 2019 to an expected $73.6 billion by 2027. After a clean sweep of 6 election referendums in 5 states, pot is now legal in 36 states plus D.C. Federal legalization is expected soon and that could be a still greater bonanza for investors. Even before the latest wave of legalization, Zacks Investment Research has recommended pot stocks that have shot up as high as +285.9%. You’re invited to check out Zacks’ Marijuana Moneymakers: An Investor’s Guide. It features a timely Watch List of pot stocks and ETFs with exceptional growth potential.Today, Download Marijuana Moneymakers FREE >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Box, Inc. (BOX): Free Stock Analysis Report To read this article on Zacks.com click here......»»

Category: topSource: zacksSep 24th, 2021

Futures Slide Alongside Cryptocurrencies Amid China Crackdown

Futures Slide Alongside Cryptocurrencies Amid China Crackdown US futures and European stocks fell amid ongoing nerves over the Evergrande default, while cryptocurrency-linked stocks tumbled after the Chinese central bank said such transactions are illegal. Sovereign bond yields fluctuated after an earlier selloff fueled by the prospect of tighter monetary policy. At 745am ET, S&P 500 e-minis were down 19.5 points, or 0.43%, Nasdaq 100 e-minis were down 88.75 points, or 0.58% and Dow e-minis were down 112 points, or 0.33%. In the biggest overnight news, Evergrande offshore creditors remain in limbo and still haven't received their coupon payment effectively starting the 30-day grace period, while also in China, the State Planner issued a notice on the crackdown of cryptocurrency mining, will strictly prohibit financing for new crypto mining projects and strengthen energy consumption controls of new crypto mining projects. Subsequently, the PBoC issued a notice to further prevent and dispose of the risks from speculating on cryptocurrencies, to strengthen monitoring of risks from crypto trading and such activities are illegal. The news sent the crypto space tumbling as much as 8% while cryptocurrency-exposed stocks slumped in U.S. premarket trading. Marathon Digital (MARA) drops 6.5%, Bit Digital (BTBT) declines 4.7%, Riot Blockchain (RIOT) -5.9%, Coinbase -2.8%. Big banks including JPMorgan, Citigroup, Morgan Stanley and Bank of America Corp slipped about 0.5%, while oil majors Exxon Mobil and Chevron Corp were down 0.4% and 0.3%, respectively, in premarket trading.Mega-cap FAAMG tech giants fell between 0.5% and 0.6%. Nike shed 4.6% after the sportswear maker cut its fiscal 2022 sales expectations and warned of delays during the holiday shopping season. Several analysts lowered their price targets on the maker of sports apparel and sneakers after the company cut its FY revenue growth guidance to mid-single- digits. Here are some of the biggest U.S. movers today: Helbiz (HLBZ) falls 10% after the micromobility company filed with the SEC for the sale of as many as 11m shares by stockholders. Focus Universal (FCUV), an online marketing company that’s been a favorite of retail traders, surged 26% in premarket trading after the stock was cited on Stocktwits in recent days. Vail Resorts (MTN) falls 2.7% in postmarket trading after its full-year forecasts for Ebitda and net income missed at the midpoint. GlycoMimetics (GLYC) jumps 15% postmarket after announcing that efficacy and safety data from a Phase 1/2 study of uproleselan in patients with acute myeloid leukemia were published in the journal Blood on Sept. 16. VTV Therapeutics (VTVT) surges 30% after company says its HPP737 psoriasis treatment showed favorable safety and tolerability profile in a multiple ascending dose study. Fears about a sooner-than-expected tapering amid signs of stalling U.S. economic growth and concerns over a spillover from China Evergrande’s default had rattled investors in September, putting the benchmark S&P 500 index on course to snap a seven-month winning streak. Elaine Stokes, a portfolio manager at Loomis Sayles & Co., told Bloomberg Television, adding that “what they did is tell us that they feel really good about the economy.” While the bond selloff vindicated Treasury bears who argue yields are too low to reflect fundamentals, others see limits to how high they can go. “We’d expected bond yields to go higher, given the macro situation where growth is still very strong,” Sylvia Sheng, global multi-asset strategist with JPMorgan Asset Management, said on Bloomberg Television. “But we do stress that is a modest view, because we think that upside to yields is still limited from here given that central banks including the Fed are still buying bonds.” Still, Wall Street’s main indexes rallied in the past two session and are set for small weekly gains. European equities dipped at the open but trade off worst levels, with the Euro Stoxx 50 sliding as much as 1.1% before climbing off the lows. France's CAC underperformed at the margin. Retail, financial services are the weakest performers. EQT AB, Europe’s biggest listed private equity firm, fell as much as 8.1% after Sweden’s financial watchdog opened an investigation into suspected market abuse. Here are some of the other biggest European movers today: SMCP shares surge as much as 9.9%, advancing for a 9th session in 10, amid continued hopes the financial troubles of its top shareholder will ultimately lead to a sale TeamViewer climbs much as 4.2% after Bankhaus Metzler initiated coverage with a buy rating, citing the company’s above-market growth AstraZeneca gains as much as 3.6% after its Lynparza drug met the primary endpoint in a prostate cancer trial Darktrace drops as much as 9.2%, paring the stock’s rally over the past few weeks, as a technical pattern triggered a sell signal Adidas and Puma fall as much as 4% and 2.9%, respectively, after U.S. rival Nike’s “large cut” to FY sales guidance, which Jefferies said would “likely hurt” shares of European peers Earlier in the session, Asian stocks rose for a second day, led by rallies in Japan and Taiwan, following U.S. peers higher amid optimism over the Federal Reserve’s bullish economic outlook and fading concerns over widespread contagion from Evergrande. Stocks were muted in China and Hong Kong. India’s S&P BSE Sensex topped the 60,000 level for the first time on Friday on optimism that speedier vaccinations will improve demand for businesses in Asia’s third-largest economy. The MSCI Asia Pacific Index gained as much as 0.7%, with TSMC and Sony the biggest boosts. That trimmed the regional benchmark’s loss for the week to about 1%. Japan’s Nikkei 225 climbed 2.1%, reopening after a holiday, pushing its advance for September to 7.7%, the best among major global gauges. The Asian regional benchmark pared its gain as Hong Kong stocks fell sharply in late afternoon trading amid continued uncertainty, with Evergrande giving no sign of making an interest payment that was due Thursday. Among key upcoming events is the leadership election for Japan’s ruling party next week, which will likely determine the country’s next prime minister. “Investor concerns over the Evergrande issue have retreated a bit for now,” said Hajime Sakai, chief fund manager at Mito Securities Co. in Tokyo. “But investors will have to keep downside risk in the corner of their minds.” Indian stocks rose, pushing the Sensex above 60,000 for the first time ever. Key gauges fell in Singapore, Malaysia and Australia, while the Thai market was closed for a holiday. Treasuries are higher as U.S. trading day begins after rebounding from weekly lows reached during Asia session, adding to Thursday’s losses. The 10-year yield was down 1bp at ~1.42%, just above the 100-DMA breached on Thursday for the first time in three months; it climbed to 1.449% during Asia session, highest since July 6, and remains 5.2bp higher on the week, its fifth straight weekly increase. Several Fed speakers are slated, first since Wednesday’s FOMC commentary set forth a possible taper timeline.  Bunds and gilts recover off cheapest levels, curves bear steepening. USTs bull steepen, richening 1.5bps from the 10y point out. Peripheral spreads are wider. BTP spreads widen 2-3bps to Bunds. In FX, the Bloomberg Dollar Spot Index climbed back from a one-week low as concern about possible contagion from Evergrande added to buying of the greenback based on the Federal Reserve tapering timeline signaled on Wednesday. NZD, AUD and CAD sit at the bottom of the G-10 scoreboard. ZAR and TRY are the weakest in EM FX. The pound fell after its rally on Thursday as investors looked ahead to BOE Governor Andrew Bailey’s sPeech next week about a possible interest-rate hike. Traders are betting that in a contest to raise borrowing costs first, the Bank of England will be the runaway winner over the Federal Reserve. The New Zealand and Aussie dollars led declines among Group-of-10 peers. The euro was trading flat, with a week full of events failing “to generate any clear directional move,” said ING analysts Francesco Pesole and Chris Turner. German IFO sentiment indeces will “provide extra indications about the area’s sentiment as  businesses faced a combination of delta variant concerns and lingering supply disruptions”. The Norwegian krone is the best performing currency among G10 peers this week, with Thursday’s announcement from the Norges Bank offering support In commodities, crude futures hold a narrow range up around best levels for the week. WTI stalls near $73.40, Brent near $77.50. Spot gold extends Asia’s gains, adding $12 on the session to trade near $1,755/oz. Base metals are mixed, LME nickel and aluminum drop ~1%, LME tin outperforms with a 2.8% rally. Bitcoin dips after the PBOC says all crypto-related transactions are illegal. Looking to the day ahead now, we’ll hear from Fed Chair Powell, Vice Chair Clarida and the Fed’s Mester, Bowman, George and Bostic, as well as the ECB’s Lane and Elderson, and the BoE’s Tenreyro. Finally, a summit of the Quad Leaders will be held at the White House, including President Biden, and the Prime Ministers of Australia, India and Japan. Market Snapshot S&P 500 futures down 0.3% to 4,423.50 STOXX Europe 600 down 0.7% to 464.18 German 10Y yield fell 8.5 bps to -0.236% Euro little changed at $1.1737 MXAP up 0.4% to 201.25 MXAPJ down 0.5% to 643.20 Nikkei up 2.1% to 30,248.81 Topix up 2.3% to 2,090.75 Hang Seng Index down 1.3% to 24,192.16 Shanghai Composite down 0.8% to 3,613.07 Sensex up 0.2% to 60,031.83 Australia S&P/ASX 200 down 0.4% to 7,342.60 Kospi little changed at 3,125.24 Brent Futures up 0.4% to $77.57/bbl Gold spot up 0.7% to $1,755.38 U.S. Dollar Index little changed at 93.14 Top Overnight News from Bloomberg China Evergrande Group’s unusual silence about a dollar-bond interest payment that was due Thursday has put a focus on what might happen during a 30-day grace period. The Reserve Bank of Australia’s inflation target is increasingly out of step with international counterparts and fails to account for structural changes in the country’s economy over the past 30 years, Westpac Banking Corp.’s Bill Evans said. With central banks from Washington to London this week signaling more alarm over faster inflation, the ultra-stimulative path of the euro zone and some of its neighbors appears lonelier than ever. China’s central bank continued to pump liquidity into the financial system on Friday as policy makers sought to avoid contagion stemming from China Evergrande Group spreading to domestic markets. A more detailed look at global markets courtesy of Newsquawk Asian equity markets traded mixed with the region failing to fully sustain the impetus from the positive performance across global counterparts after the silence from Evergrande and lack of coupon payments for its offshore bonds, stirred uncertainty for the company. ASX 200 (-0.4%) was negative as underperformance in mining names and real estate overshadowed the advances in tech and resilience in financials from the higher yield environment. Nikkei 225 (+2.1%) was the biggest gainer overnight as it played catch up to the prior day’s recovery on return from the Autumnal Equinox holiday in Japan and with exporters cheering the recent risk-conducive currency flows, while KOSPI (-0.1%) was lacklustre amid the record daily COVID-19 infections and after North Korea deemed that it was premature to declare that the Korean War was over. Hang Seng (-1.2%) and Shanghai Comp. (-0.8%) were indecisive after further liquidity efforts by the PBoC were offset by concerns surrounding Evergrande after the Co. failed to make coupon payments due yesterday for offshore bonds but has a 30-day grace period with the Co. remaining quiet on the issue. Finally, 10yr JGBs were lower on spillover selling from global counterparts including the declines in T-notes as the US 10yr yield breached 1.40% for the first time since early-July with the pressure in bonds also stemming from across the Atlantic following a more hawkish BoE, while the presence of the BoJ in the market today for over JPY 1.3tln of government bonds with 1yr-10yr maturities did very little to spur prices. Top Asian News Rivals for Prime Minister Battle on Social Media: Japan Election Asian Stocks Rise for Second Day, Led by Gains in Japan, Taiwan Hong Kong Stocks Still Wagged by Evergrande Tail Hong Kong’s Hang Seng Tech Index Extends Decline to More Than 2% European equities (Stoxx 600 -0.9%) are trading on the back foot in the final trading session of the week amid further advances in global bond yields and a mixed APAC handover. Overnight, saw gains for the Nikkei 225 of 2.1% with the index aided by favourable currency flows, whilst Chinese markets lagged (Shanghai Comp. -0.8%, Hang Seng -1.6%) with further liquidity efforts by the PBoC offset by concerns surrounding Evergrande after the Co. failed to make coupon payments due yesterday for offshore bonds. As context, despite the losses in Europe today, the Stoxx 600 is still higher by some 1.2% on the week. Stateside, futures are also on a softer footing with the ES down by 0.4% ahead of a busy Fed speaker schedule. Back to Europe, sectors are lower across the board with Retail and Personal & Household Goods lagging peers. The former has been hampered by losses in Adidas (-3.0%) following after hours earnings from Nike (-4.2% pre-market) which saw the Co. cut its revenue guidance amid supply chain woes. AstraZeneca (+2.1%) sits at the top of the FTSE 100 after announcing that the Lynparza PROpel trial met its primary endpoint. Daimler’s (+0.1%) Mercedes-Benz has announced that it will take a 33% stake in a battery cell manufacturing JV with Total and Stellantis. EQT (-6.5%) sits at the foot of the Stoxx 600 after the Swedish FSA announced it will open an investigation into the Co. Top European News EQT Investigated by Sweden’s FSA Over Suspected Market Abuse Gazprom Says Claims of Gas Under-supply to Europe Are ‘Absurd’ German Sept. Ifo Business Confidence 98.8; Est. 99 German Business Index at Five-Month Low in Pre-Election Verdict In FX, the rot seems to have stopped for the Buck in terms of its sharp and marked fall from grace amidst post-FOMC reflection and re-positioning in the financial markets on Thursday. Indeed, the Dollar index has regained some poise to hover above the 93.000 level having recoiled from 93.526 to 92.977 over the course of yesterday’s hectic session that saw the DXY register a marginal new w-t-d high and low at either end of the spectrum. Pre-weekend short covering and consolidation may be giving the Greenback a lift, while the risk backdrop is also less upbeat ahead of a raft of Fed speakers flanking US new home sales data. Elsewhere, the Euro remains relatively sidelined and contained against the Buck with little independent inspiration from the latest German Ifo survey as the business climate deteriorated broadly in line with consensus and current conditions were worse than forecast, but business expectations were better than anticipated. Hence, Eur/Usd is still stuck in a rut and only briefly/fractionally outside 1.1750-00 parameters for the entire week, thus far, as hefty option expiry interest continues to keep the headline pair in check. However, there is significantly less support or gravitational pull at the round number today compared to Thursday as ‘only’ 1.3 bn rolls off vs 4.1 bn, and any upside breach could be capped by 1.1 bn between 1.1765-85. CAD/NZD/AUD - Some payback for the non-US Dollars following their revival, with the Loonie waning from 1.2650+ peaks ahead of Canadian budget balances, though still underpinned by crude as WTI hovers around Usd 73.50/brl and not far from decent option expiries (from 1.2655-50 and 1.2625-30 in 1.4 bn each). Similarly, the Kiwi has faded after climbing to within single digits of 0.7100 in wake of NZ trade data overnight revealing a much wider deficit as exports slowed and imports rose, while the Aussie loses grip of the 0.7300 handle and skirts 1.1 bn option expiries at 0.7275. CHF/GBP/JPY - The Franc is fairly flat and restrained following a dovish SNB policy review that left in lagging somewhat yesterday, with Usd/Chf and Eur/Chf straddling 0.9250 and 1.0850 respectively, in contrast to Sterling that is paring some hawkish BoE momentum, as Cable retreats to retest bids circa 1.3700 and Eur/Gbp bounces from sub-0.8550. Elsewhere, the Yen has not been able to fend off further downside through 110.00 even though Japanese participants have returned to the fray after the Autumn Equinox holiday and reports suggest some COVID-19 restrictions may be lifted in 13 prefectures on a trial basis. SCANDI/EM/PM/CRYPTO - A slight change in the pecking order in Scandi-land as the Nok loses some post-Norges Bank hike impetus and the Sek unwinds a bit of its underperformance, but EM currencies are bearing the brunt of the aforementioned downturn in risk sentiment and firmer Usd, with the Zar hit harder than other as Gold is clings to Usd 1750/oz and Try down to deeper post-CBRT rate cut lows after mixed manufacturing sentiment and cap u readings. Meanwhile, Bitcoin is being shackled by the latest Chinese crackdown on mining and efforts to limit risks from what it describes as unlawful speculative crypto currency trading. In commodities, WTI and Brent are set the conclude the week in the green with gains in excess of 2% for WTI at the time of writing; in-spite of the pressure seen in the complex on Monday and the first-half of Tuesday, where a sub USD 69.50/bbl low was printed. Fresh newsflow has, once again, been limited for the complex and continues to focus on the gas situation. More broadly, no update as of yet on the Evergrande interest payment and by all accounts we appear to have entered the 30-day grace period for this and, assuming catalysts remain slim, updates on this will may well dictate the state-of-play. Schedule wise, the session ahead eyes significant amounts of central bank commentary but from a crude perspective the weekly Baker Hughes rig count will draw attention. On the weather front, Storm Sam has been upgraded to a Hurricane and is expected to rapidly intensify but currently remains someway into the mid-Atlantic. Moving to metals, LME copper is pivoting the unchanged mark after a mixed APAC lead while attention is on Glencore’s CSA copper mine, which it has received an offer for; the site in 2020 produced circa. 46k/T of copper which is typically exported to Asia smelters. Elsewhere, spot gold and silver are firmer but have been very contained and remain well-within overnight ranges thus far. Which sees the yellow metal holding just above the USD 1750/oz mark after a brief foray below the level after the US-close. US Event Calendar 10am: Aug. New Home Sales MoM, est. 1.0%, prior 1.0% 10am: Aug. New Home Sales, est. 715,000, prior 708,000 Central Bank Speakers 8:45am: Fed’s Mester Discusses the Economic Outlook 10am: Powell, Clarida and Bowman Host Fed Listens Event 10:05am: Fed’s George Discusses Economic Outlook 12pm: Fed’s Bostic Discusses Equitable Community Development DB's Jim Reid concludes the overnight wrap WFH today is a bonus as it’s time for the annual ritual at home where the latest, sleekest, shiniest iPhone model arrives in the post and i sheepishly try to justify to my wife when I get home why I need an incremental upgrade. This year to save me from the Spanish Inquisition I’m going to intercept the courier and keep quiet. Problem is that such speed at intercepting the delivery will be logistically challenging as I remain on crutches (5 weeks to go) and can’t grip properly with my left hand due to an ongoing trapped nerve. I’m very glad I’m not a racehorse. Although hopefully I can be put out to pasture in front of the Ryder Cup this weekend. The big news of the last 24 hours has been a galloping global yield rise worthy of the finest thoroughbred. A hawkish Fed meeting, with the dots increasing and the end of QE potentially accelerated, didn’t quite have the ability to move markets but the global dam finally broke yesterday with Norway being the highest profile developed country to raise rates this cycle (expected), but more importantly a Bank of England meeting that saw the market reappraise rate hikes. Looking at the specific moves, yields on 10yr Treasuries were up +13.0bps to 1.430% in their biggest daily increase since 25 February, as both higher real rates (+7.9bps) and inflation breakevens (+4.9bps) drove the advance. US 10yr yields had been trading in a c.10bp range for the last month before breaking out higher, though they have been trending higher since dropping as far as 1.17% back in early-August. US 30yr yields rose +13.2bps, which was the biggest one day move in long dated yields since March 17 2020, which was at the onset of the pandemic and just days after the Fed announced it would be starting the current round of QE. The large selloff in US bonds saw the yield curve steepen and the long-end give back roughly half of the FOMC flattening from the day before. The 5y30y curve steepened 3.4bps for a two day move of -3.3bps. However the 2y10y curve steepened +10.5bps, completely reversing the prior day’s flattening (-4.2bps) and leaving the spread at 116bp, the steepest level since first week of July. 10yr gilt yields saw nearly as strong a move (+10.8bps) with those on shorter-dated 2yr gilts (+10.7bps) hitting their highest level (0.386%) since the pandemic began.That came on the back of the BoE’s latest policy decision, which pointed in a hawkish direction, building on the comment in the August statement that “some modest tightening of monetary policy over the forecast period is likely to be necessary” by saying that “some developments during the intervening period appear to have strengthened that case”. The statement pointed out that the rise in gas prices since August represented an upside risks to their inflation projections from next April, and the MPC’s vote also saw 2 members (up from 1 in August) vote to dial back QE. See DB’s Sanjay Raja’s revised rate hike forecasts here. We now expect a 15bps hike in February. The generalised move saw yields in other European countries rise as well, with those on 10yr bunds (+6.6bps), OATs (+6.5bps) and BTPs (+5.7bps) all seeing big moves higher with 10yr bunds seeing their biggest climb since late-February and back to early-July levels as -0.258%. The yield rise didn’t stop equity indices recovering further from Monday’s rout, with the S&P 500 up +1.21% as the index marked its best performance in over 2 months, and its best 2-day performance since May. Despite the mood at the end of the weekend, the S&P now starts Friday in positive territory for the week. The rally yesterday was led by cyclicals for a second straight day with higher commodity prices driving outsized gains for energy (+3.41%) and materials (+1.39%) stocks, and the aforementioned higher yields causing banks (+3.37%) and diversified financials (+2.35%) to outperform. The reopening trade was the other main beneficiary as airlines rose +2.99% and consumer services, which include hotel and cruiseline companies, gained +1.92%. In Europe, the STOXX 600 (+0.93%) witnessed a similarly strong performance, with index led by banks (+2.16%). As a testament to the breadth of yesterday’s rally, the travel and leisure sector (+0.04%) was the worst performing sector on this side of the Atlantic even while registering a small gain and lagging its US counterparts. Before we get onto some of yesterday’s other events, it’s worth noting that this is actually the last EMR before the German election on Sunday, which has long been signposted as one of the more interesting macro events on the 2021 calendar, the results of which will play a key role in not just domestic, but also EU policy. And with Chancellor Merkel stepping down after four terms in office, this means that the country will soon be under new management irrespective of who forms a government afterwards. It’s been a volatile campaign in many respects, with Chancellor Merkel’s CDU/CSU, the Greens and the centre-left SPD all having been in the lead at various points over the last six months. But for the last month Politico’s Poll of Polls has shown the SPD consistently ahead, with their tracker currently putting them on 25%, ahead of the CDU/CSU on 22% and the Greens on 16%. However the latest poll from Forschungsgruppe Wahlen yesterday suggested a tighter race with the SPD at 25, the CDU/CSU at 23% and the Greens at 16.5%. If the actual results are in line with the recent averages, it would certainly mark a sea change in German politics, as it would be the first time that the SPD have won the popular vote since the 2002 election. Furthermore, it would be the CDU/CSU’s worst ever result, and mark the first time in post-war Germany that the two main parties have failed to win a majority of the vote between them, which mirrors the erosion of the traditional big parties in the rest of continental Europe. For the Greens, 15% would be their best ever score, and exceed the 9% they got back in 2017 that left them in 6th place, but it would also be a disappointment relative to their high hopes back in the spring, when they were briefly polling in the mid-20s after Annalena Baerbock was selected as their Chancellor candidate. In terms of when to expect results, the polls close at 17:00 London time, with initial exit polls released immediately afterwards. However, unlike the UK, where a new majority government can immediately come to power the day after the election, the use of proportional representation in Germany means that it could potentially be weeks or months before a new government is formed. Indeed, after the last election in September 2017, it wasn’t until March 2018 that the new grand coalition between the CDU/CSU and the SPD took office, after attempts to reach a “Jamaica” coalition between the CDU/CSU, the FDP and the Greens was unsuccessful. In the meantime, the existing government will act as a caretaker administration. On the policy implications, it will of course depend on what sort of government is actually formed, but our research colleagues in Frankfurt have produced a comprehensive slidepack (link here) running through what the different parties want across a range of policies, and what the likely coalitions would mean for Germany. They also put out another note yesterday (link here) where they point out that there’s still much to play for, with the SPD’s lead inside the margin of error and with an unusually high share of yet undecided voters. Moving on to Asia and markets are mostly higher with the Nikkei (+2.04%), CSI (+0.53%) and India’s Nifty (+0.52%) up while the Hang Seng (-0.03%), Shanghai Comp (-0.07%) and Kospi (-0.10%) have all made small moves lower. Meanwhile, the Evergrande group missed its dollar bond coupon payment yesterday and so far there has been no communication from the group on this. They have a 30-day grace period to make the payment before any event of default can be declared. This follows instructions from China’s Financial regulators yesterday in which they urged the group to take all measures possible to avoid a near-term default on dollar bonds while focusing on completing unfinished properties and repaying individual investors. Yields on Australia and New Zealand’s 10y sovereign bonds are up +14.5bps and +11.3bps respectively this morning after yesterday’s move from their western counterparts. Yields on 10y USTs are also up a further +1.1bps to 1.443%. Elsewhere, futures on the S&P 500 are up +0.04% while those on the Stoxx 50 are down -0.10%. In terms of overnight data, Japan’s August CPI printed at -0.4% yoy (vs. -0.3% yoy expected) while core was unchanged in line with expectations. We also received Japan’s flash PMIs with the services reading at 47.4 (vs. 42.9 last month) while the manufacturing reading came in at 51.2 (vs. 52.7 last month). In pandemic related news, Jiji reported that Japan is planning to conduct trials of easing Covid restrictions, with 13 prefectures indicating they’d like to participate. This is likely contributing to the outperformance of the Nikkei this morning. Back to yesterday now, and one of the main highlights came from the flash PMIs, which showed a continued deceleration in growth momentum across Europe and the US, and also underwhelmed relative to expectations. Running through the headline numbers, the Euro Area composite PMI fell to 56.1 (vs. 58.5 expected), which is the lowest figure since April, as both the manufacturing (58.7 vs 60.3 expected) and services (56.3 vs. 58.5 expected) came in beneath expectations. Over in the US, the composite PMI fell to 54.5 in its 4th consecutive decline, as the index hit its lowest level in a year, while the UK’s composite PMI at 54.1 (vs. 54.6 expected) was the lowest since February when the country was still in a nationwide lockdown. Risk assets seemed unperturbed by the readings, and commodities actually took another leg higher as they rebounded from their losses at the start of the week. The Bloomberg Commodity Spot index rose +1.12% as Brent crude oil (+1.39%) closed at $77.25/bbl, which marked its highest closing level since late 2018, while WTI (+1.07%) rose to $73.30/bbl, so still a bit beneath its recent peak in July. However that is a decent rebound of roughly $11/bbl since its recent low just over a month ago. Elsewhere, gold (-1.44%) took a knock amidst the sharp move higher in yields, while European natural gas prices subsidised for a third day running, with futures now down -8.5% from their intraday peak on Tuesday, although they’re still up by +71.3% since the start of August. US negotiations regarding the upcoming funding bill and raising the debt ceiling are ongoing, with House Speaker Pelosi saying that the former, also called a continuing resolution, will pass “both houses by September 30,” and fund the government through the first part of the fiscal year, starting October 1. Treasury Secretary Yellen has said the US will likely breach the debt ceiling sometime in the next month if Congress does not increase the level, and because Republicans are unwilling to vote to raise the ceiling, Democrats will have to use the once-a-fiscal-year tool of budget reconciliation to do so. However Democrats, are also using that process for the $3.5 trillion dollar economic plan that makes up the bulk of the Biden agenda, and have not been able to get full party support yet. During a joint press conference with Speaker Pelosi, Senate Majority Leader Schumer said that Democrats have a “framework” to pay for the Biden Economic agenda, which would imply that the broad outline of a deal was reached between the House, Senate and the White House. However, no specifics were mentioned yesterday. With Democrats looking to vote on the bipartisan infrastructure bill early next week, negotiations today and this weekend on the potential reconciliation package will be vital. Looking at yesterday’s other data, the weekly initial jobless claims from the US for the week through September 18 unexpectedly rose to 351k (vs. 320k expected), which is the second week running they’ve come in above expectations. Separately, the Chicago Fed’s national activity index fell to 0.29 in August (vs. 0.50 expected), and the Kansas City Fed’s manufacturing activity index also fell more than expected to 22 in September (vs. 25 expected). To the day ahead now, and data highlights include the Ifo’s business climate indicator from Germany for September, along with Italian consumer confidence for September and US new home sales for August. From central banks, we’ll hear from Fed Chair Powell, Vice Chair Clarida and the Fed’s Mester, Bowman, George and Bostic, as well as the ECB’s Lane and Elderson, and the BoE’s Tenreyro. Finally, a summit of the Quad Leaders will be held at the White House, including President Biden, and the Prime Ministers of Australia, India and Japan. Tyler Durden Fri, 09/24/2021 - 08:12.....»»

Category: blogSource: zerohedgeSep 24th, 2021

B&Q Owner Kingfisher Nails Demand For DIY

“B&Q and Screwfix owner Kingfisher plc (LON:KGF) has again nailed our insatiable demand for DIY. The race for more space in our homes has kept demand booming for building and decorating materials. The working from home revolution has been a seismic change and  has led so many people to re-evaluate the way they live.  Doing […] “B&Q and Screwfix owner Kingfisher plc (LON:KGF) has again nailed our insatiable demand for DIY. The race for more space in our homes has kept demand booming for building and decorating materials. The working from home revolution has been a seismic change and  has led so many people to re-evaluate the way they live.  Doing deals from the kitchen table just isn’t going to cut it longer term, so they have been eyeing up extensions, renovations and outdoor offices instead. 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); Q2 2021 hedge fund letters, conferences and more Kingfisher's Sales Were Up 22% Like for like sales were up 22% for the half year – that’s partly because this time last year there were still significant store closures in certain regions – but there has been resilient demand across all markets. France has turned from a weak to a bright spot, with retail profit more than doubling compared to the same period last year, with the effort to restore the discount DNA to the Bricot Depot chain clearly reaping rewards. In the third quarter, demand overall dropped back a little, by 0.6%, with the bad weather putting people off starting outdoor projects and making purchases, but compared to 2019 the DIY craze shows little sign of waning with like for like sales up 16% Supply chain issues have still caused headaches, particularly amid such high demand, but these are cracks in its slick operating model the company has been busy filling. Although higher shipping costs and bottlenecks at major ports don’t look like they are going to ease any time soon and will remain a challenge, so far the company has navigated the shortage of raw materials and drivers adeptly. Prices are going up more steeply than usual but so far its managed to limit inflationary pressures on the business, though concerns will remain over whether it will be able to continue to do so, if the supply chain crunch continues well into next year. With absenteeism rates going up in Vietnam and China the company says it also remains mindful of continued uncertainty relating to Covid. Nevertheless it doesn’t expect sales to dwindle as much as previously thought for the second half of the year – expecting a drop off of between 7 and 3 % compared to a fall of 5 to 15% - which when compared to the same period in 2019 represents a sales jump of around 9 to 13%. The £300 million share buy-back scheme is also a show of confidence in the company’s outlook and the expectation that strong cash generation will continue. If the company is hit with a splattering of more supply chain disruption, it has shown it has the resilience built into its model to repair the worst of the damage." Article by Susannah Streeter, senior investment and markets analyst, Hargreaves Lansdown About Hargreaves Lansdown Over 1.64 million clients trust us with £135.5 billion (as at 30 June 2021), making us the UK’s largest digital wealth management service. More than 98% of client activity is done through our digital channels and over 600,000 access our mobile app each month. Updated on Sep 23, 2021, 10:44 am (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: valuewalkSep 23rd, 2021

The best iPad deals available right now, including $100 off the iPad Air

Apple iPads are discounted for most of the year, meaning you rarely have to pay full price for one. Here are the best iPad deals available now. When you buy through our links, Insider may earn an affiliate commission. Learn more. Apple; Alyssa Powell/Insider iPads are popular tablets and for good reason: they're the best ones available. Luckily, if you're looking for an iPad, you can find most models discounted throughout the year. Right now, you can snag an iPad Air for $100 off retail price. Apple's iPads are the best tablets around. Like most Apple products, you can find any given member of the iPad family discounted throughout the year, from the compact iPad mini to the powerful iPad Pro. We'll be sure to keep you updated on the latest iPad deals as soon as they happen.Below, is a list of the best deals currently available, along with what you should pay for each model. Need help choosing with iPad is right for you? Check out our guides to the best iPads and tablets you can buy. Our reviewTypical priceDisplay sizeProcessorApple Pencil Compatible?iPad (9th Gen)TBA$329 to $42910.2-inchA13 Bionic1st GeniPad (8th Gen)Best overall$320 to $40010.2-inchA12 Bionic1st GeniPad Air (4th Gen)Best mid-range$539 to $69910.9-inchA14 Bionic1st and 2nd GeniPad Mini (6th Gen)TBA$499 to $6498.3-inchA15 Bionic1st and 2nd geniPad Mini (5th Gen)Best small iPad$395 to $5297.9-inchA12 Bionic1st GeniPad Pro (5th Gen)Best for pros$699 to $99911-inch and 12.9-inchApple M11st and 2nd GenHere are the best iPad deals available right now12.9-inch iPad Pro (2021) (medium, Preferred: Amazon)11-inch iPad Pro (2021) (medium, Preferred: Amazon)iPad Air 2020 (4th Gen, 64GB) (medium, Preferred: Amazon)iPad Air (4th Gen., 256GB) (medium, Preferred: Amazon)We'll update this list regularly to help you find the best price.Table of Contents: Masthead Sticky iPad (8th generation) deals 2020 iPad 10.2-inch (8th Gen) (medium, Preferred: Walmart)Typical price: $320 to $400Display size: 10.2-inchDisplay type: Retina DisplayAvailable colors: Silver, space gray, goldStorage capacities: 32GB, 128GBThough the ninth-generation iPad just launched, the eighth-generation 10.2-inch iPad is still our current choice as the best option for most people with its balance of performance and value.Whether you're buying your first iPad or upgrading from an older model, it's a solid choice and comes in either 32GB or 128GB storage options. It has a clear and sharp 2,160 x 1,620-pixel resolution and an A12 processor capable of most apps and tasks. If you're an artist or a fan of handwritten notes, it's also compatible with the Apple Pencil.We see deals on this iPad regularly throughout the year. More often than not, however, sales are limited to only one color or storage capacity, so if you see a good price on one that fits your needs, don't hesitate to buy. These deals also tend to sell out fast. Street price varies for each option, but for the most part: it's less than retail price. iPad Air (4th Gen) deals iPad Air 2020 (4th Gen, 64GB) (medium, Preferred: Amazon)Typical price: $539 to $699Display sizes: 10.9-inchDisplay type: Liquid Retina display with True ToneAvailable colors: Silver, space gray, rose gold, green, sky blueStorage capacities: 64GB, 256GBThe 2020 iPad Air is powerful performance encased in an updated, premium design. It features sharper edges, an A14 Bionic chip (the same chip powering the iPhone 12 series), USB-C charging, and a Touch ID sensor on the power button. It supports the second-generation Apple Pencil, a great stylus for tablet drawing; the sharp 10.9-inch Liquid Retina True Tone Screen also sweetens the build for artists. The fourth-generation iPad Air comes in five colors: green, rose gold, sky blue, silver, and space gray. A new generation hasn't been released for 2021. Deals for the latest iPad Air are becoming increasingly common. At the moment, street price is as low as $539 for select finishes, with recurring price drops down to $500.  iPad Mini (5th Gen) deals iPad Mini (5th Gen., 256GB) (medium, Preferred: Amazon)Typical price: $395 to $529Display sizes: 7.9-inchDisplay type: Retina display with True ToneAvailable colors: Silver, space gray, rose goldStorage capacities: 64GB or 256GBThough the sixth-generation model was just announced, the fifth-generation iPad Mini is still our current pick for tablet users prioritizing a compact form factor. Just like its bigger sibling (the 2020 iPad), the iPad Mini is powered by the A12 Bionic chip and is compatible with the first-generation Apple Pencil. It comes in three different finishes and you can choose between the smaller 64GB or the larger 256GB storage options. The iPad Mini sees regular deals year-round. Street price hovers around $10 or $20 less than retail price most of the time though, so never settle for paying retail price (unless you absolutely have to). iPad Pro (5th Gen) deals 11-inch iPad Pro (2021) (medium, Preferred: Amazon)12.9-inch iPad Pro (2021) (medium, Preferred: Amazon)Typical price: $799 to $1,799Display sizes: 11-inch, 12.9-inchDisplay type: Liquid Retina display with ProMotion technology and True Tone on the 11-inch, Liquid Retina XDR display with mini-LED technology on the 12.9-inchAvailable colors: Silver, space grayStorage capabilities: 128GB, 256GB, 512GB, 1TB, 2TBThe iPad Pro introduced the M1 processor to the iPad lineup for the first time. This is the same Apple-made chip that is found in Apple's newest MacBook Air and MacBook Pro. This should bring even more power to a tablet with capabilities that already rivaled those of some laptops. The iPad Pros also feature optional 5G connectivity, an updated Thunderbolt connection for enhanced accessories support, and up to 2TB of storage.The 12.9-inch model comes equipped with a Liquid Retina XDR display that uses mini-LED technology for increased brightness and clarity. So far, the newest iPad Pro has yet to see any major price drops since its launch, even during Amazon Prime Day. However, we still expect to see older generations discounted regularly throughout the year, and even more so during Black Friday and Cyber Monday.  iPad Pro (4th Gen) deals 2020 iPad Pro (12.9-inch, 256GB) (medium, Preferred: B&H Photo)Typical price: $999 to $1,450Display sizes: 11-inch, 12.9-inchDisplay type: Liquid Retina display with ProMotion technology and True ToneAvailable colors: Silver, space grayStorage capacities: 128GB, 256GB, 512GB, 1TBThe 2020 iPad Pro may be a generation old, but it performs so well it's on par with some laptops. On the outside, both the 11- and 12.9-inch 2020 iPad Pros have slim bezels, a sharp screen, and are compatible with many great add-ons like the Apple Pencil and Magic Keyboard. Internally, it's a powerhouse; it has an A12Z Bionic processor  with laptop-like power and is available in up to 1TB of storage.Apple sells updated iPad Pros featuring the laptop-grade M1 processor, which replaces the 2020 model. This means that there should be some decent deals on these models while retailers make space for the newer version. Even though Apple released a new model of the iPad Pro, don't expect to get the 2020 version at record lows just yet. Regardless of Apple's release cycle, the best deals are still usually found during major sales like Black Friday and Cyber Monday. Street price varies drastically between each screen size and storage variant, but as a rule of thumb: smaller storage variants usually run for $40 less than retail price, so never settle for paying more. iPad accessory deals Compatibility for some accessories will depend on the iPad you own, but for the most part, add-ons like the Apple Pencil and Magic Keyboard are game-changing to your tablet usage. You can find many off-brand cases and keyboards for much less (and usually with better deals), but you don't need to be an Apple aficionado to recognize the beauty of the official Apple accessories.Discounts for accessories tend to be a bit smaller compared to that of iPads. If you find $10 off an Apple Pencil or $20 off a Magic Keyboard, chances are, it's a worthwhile deal. It's just important to make note of each item's street price, as retail can often be inflated. Product Card (medium, Preferred: Amazon)Read more about how the Insider Reviews team evaluates deals and why you should trust us. Read the original article on Business Insider.....»»

Category: topSource: businessinsiderSep 23rd, 2021

Time To Say Goodbye To The Everything Bubble

Time To Say Goodbye To The Everything Bubble Authored by Egon von Greyerz via GoldSwitzerland.com, Will the autumn of 2021 be the end of the everything bubble? Are investment markets very soon coming to the end of market insanity? Since there is very little sanity left in markets or the in the world economy, we have now reached a point where we must accept madness as sanity, as George Bernard Shaw said: “When the world goes mad, one must accept madness as sanity; since sanity is, in the last analysis, nothing but the madness on which the whole world happens to agree.” George Bernard Shaw Investment markets today are all about instant gratification and getting rich quick. “Stocks always go up” and so does property in the everything bubble. Even the normally boring bond market has had a 40 year rise. And then we have the supercharged tech stocks, many of which have gained 1000s of percent in this century And we mustn’t forget the SPAC stocks (Special Purpose Acquisition Companies) or Blank Cheque Companies where shell companies are used to acquire existing companies to inflate their share price. None of these things are new of course. During the South Sea Bubble in the 1720s for example, companies were formed and capital raised with just the purpose of “Making Money”. We mustn’t forget the cryptocurrencies which are now worth valued at $2 trillion. They were just over $1 billion 8 years ago. Is that the bubble of the century like tulip bulbs in the 1600s or is it the money of the future. Well, most readers know or can guess my opinion on this! VALUE INVESTING & WEALTH PRESERVATION IS FOR “WIMPS” In a world where everything is based on “get rich quick” neither value investing nor wealth preservation enters the equation. Why worry about preserving your wealth when you could have made 14x your money on the Nasdaq since 2009 or 5,000x your investment on Bitcoin since 2011. Calling tops is a mug’s game. Some of us who look at risk have been worried about the everything bubble economy for quite a while. To us, since the end of the Great Financial Crisis in 2009, the world economy and asset markets have been an illusion. It is as if we are watching a virtual reality game in which some people automatically increase their wealth by millions or even billions of dollars every time they pass GO. But as the rich are getting richer, the masses are just getting poorer and more indebted. Although we see the wealth that has been acquired by many as an illusion that will soon evaporate, for the ones who have benefited, this is all very real. Anyone who believes that these gains are real and sustainable will have the shock of a lifetime in coming years. As I showed in a recent article about the End of the US Empire, the wealth of the 400 richest Americans has gone from 2% of GDP to 18% in the last 40 years. This concentration of wealth is of course spectacular but also very dangerous for the world. Trees can always grow taller but they never grow to heaven! AT THE END OF AN ERA – FALLS OF 90% So as Shaw said, we are now in “the madness on which the whole world agrees”. As I have often stated, I believe that we are at the end of a very major economic cycle. Not only are markets insane, but so are deficits, debts and currency debasements. But also moral and ethical values have now vanished into thin air and been replaced by lies, deceit and the golden calf. We are now in a very critical period for the world since excesses of the magnitude we are now seeing must be corrected. Exponential moves in one direction are always corrected. And the corrections will be of a similar magnitude to the rise but happen much quicker. We are talking about falls of 90% or more in all major asset and debt markets. Nobody believes such moves are possible with central banks and governments standing by with unlimited money printing combined with new Central Bank Digital Currencies that will save the world. ILLUSIONS ARE JUST ILLUSIONS We must understand that illusions cannot rescue the world economy.  This despite whatever concoctions central banks or Schwab (World Economic Forum) and his billionaire cronies come up with. Virtual illusions in the form of fake money or empty promises can never repay debt, nor can they change the laws of nature. Clearly all these “evil forces” will use their power to orchestrate fake resets to “save the world” in an attempt to tighten their grip on the world economy and the financial system. But a heavily indebted and fake system can never be reset in an orderly manner. In my view, any artificial or fake reset will only have a very limited effect. It is just not possible to solve a debt problem with more debt whatever way the PTB (Powers That Be) try to dress it in sheep’s clothing. So an orderly reset is bound to fail very quickly. A new digital Fiat and thus fake currency will not solve the world’s debt problem. Writing off the debt is just another illusory act. If you write off the debt, the assets on the opposite side of the balance sheet will also implode in value. And since the debt is leveraging the assets, they will have a very long way to fall. This is why asset implosions of 90-100% are very likely. Few people believe this to be possible but with debt collapsing so will the bubble assets which are all inflated by worthless debt. We must remember that the big stock market crash in 1929-32 saw the Dow lose 90% of its value. It then took 25 years for the Dow to get above the 1929 high. And today 92 years after that peak, debts, deficits, and asset bubbles are far greater than at the end of the 1920s. Below are a number of graphs that all point to the everything bubble. THE BUFFETT INDICATOR So there we have it, incontrovertible proof that this is the mother of all bubbles. But as we have learnt in this century, bubbles can always grow bigger and especially if we are looking at the end of a major super cycle which could be as big (or long) as 2,000 years. Nevertheless, the evidence keeps mounting of an epic asset bubble. In addition to the charts above that point to illusions never seen before in markets, we have a number of technical indicators that all point to the end of the everything bubble. In the chart below, the RSI (Relative Strength Index) momentum indicator for example topped in 2017 and the major rise in the Dow since then has not been confirmed by the indicator. This is a very bearish sign albeit not a short term indicator. Many other technical indicators including Elliott wave or Dow Theory all point to that a top to the everything bubble is imminent. Whether that means a top next week (which is possible), or in the next few months, time will tell. Some important cycle indicators point to potential turns between now and Sep 24. SURVIVING THE EVERYTHING BUBBLE IS ALL ABOUT PROTECTING FROM RISK But what is much more important than pinpointing the exact timing of the top is to understand the risk involved. If, as we believe, we are now at the end of the everything bubble, nobody needs to time it. Investors should understand the upside might be 10% and the downside 90%+. Who is foolish enough to accept such a risk? Maybe a 10% move up but a more certain 90% fall. We are talking about a fall in real terms. If we get hyperinflation stocks and other assets can rise in nominal terms but fall in real terms when measured in stable purchasing power, like gold. Well, that question is easy to answer. The whole investment world which has been spoilt by tens of trillions of dollars of fake money to fuel the Epic Everything Bubble will expect much more of the same in coming months or years. Yes, much more money will be created but this time it will have very little effect. Instead the dollar, euro, yen etc will accelerate the falls that we have seen since 1913. They have all fallen 98-99% since then and by similar percentages since 1971 when Nixon closed the gold window. The final 1-2% fall will soon start and take most currencies to their intrinsic value of ZERO. But don’t forget that this final fall is 100% from here. Remember that measuring your assets in for example dollars is a futile exercise in self indulgence. You are just flattering your investment skills when you measure your performance in a currency that has lost 98% since 1971 and 84% since 2000. If you use the same method in coming years, your paper wealth might look ok but be worthless in real terms. Just ask anyone who has lived in a hyperinflationary economy like Yugoslavia, Argentina or Venezuela.  So what is a Sleeping Beauty investment. Not difficult to guess. It is an investment that you can forget about for 100 years and when you wake up, it will have maintained its purchasing power. GOLD If we get the expected stock market crash, it is possible that gold and the precious metals continue to correct a bit further like in 2008. As opposed to today, gold had then had a major bull run from $250 in 1999 to $1,000 in 2008. Weak gold hands then needed to get liquidity against a crashing stock market and the everything bubble. Gold has now been in consolidation for years and there are a lot fewer speculative  investors compared to 2008. Therefore I expect a much smaller and shorter correction, if any. Coming back to the Sleeping Beauty, there is one investment which you could safely put away and forget about for 100 years. It is of course physical gold, safely stored. As long as you store gold in a safe place and safe country, you know that it will maintain  its REAL value as it has for 5,000 years.  Yes, there are fluctuations, but gold’s history tells us that it is not just the only money which has survived but also the only money which has maintained real purchasing power.  Gold today at $1,750 is as UNLOVED AND UNDERVALUED as in 1971 at $35 and in 2000 at $288.  I will continue to show the chart below until that situation is rectified. This reminds me of the Roman Senator Cato during the Punic Wars (around 150 BC) who finished every speech in the senate with “Furthermore I consider that Carthage must be destroyed”. In the end Cato got his way as Carthage was destroyed. I have no doubt that gold will soon rectify the current undervaluation and reach levels that few can imagine. This is what both technicals and fundamentals are clearly indicating. Tyler Durden Thu, 09/23/2021 - 06:30.....»»

Category: blogSource: zerohedgeSep 23rd, 2021

Escobar: Eurasia Takes Shape, Part 1 - How The SCO Just Flipped The World Order

Escobar: Eurasia Takes Shape, Part 1 - How The SCO Just Flipped The World Order Authored by Pepe Escobar via The Cradle, As a rudderless West watched on, the 20th anniversary meeting of the Shanghai Cooperation Organization was laser-focused on two key deliverables: shaping up Afghanistan and kicking off a full-spectrum Eurasian integration. The two defining moments of the historic 20th anniversary Shanghai Cooperation Organization (SCO) summit in Dushanbe, Tajikistan had to come from the keynote speeches of – who else – the leaders of the Russia-China strategic partnership. Xi Jinping: “Today we will launch procedures to admit Iran as a full member of the SCO.” Vladimir Putin: “I would like to highlight the Memorandum of Understanding that was signed today between the SCO Secretariat and the Eurasian Economic Commission. It is clearly designed to further Russia’s idea of establishing a Greater Eurasia Partnership covering the SCO, the EAEU (Eurasian Economic Union), ASEAN (Association of Southeast Asian Nations) and China’s Belt and Road initiative (BRI).” In short, over the weekend, Iran was enshrined in its rightful, prime Eurasian role, and all Eurasian integration paths converged toward a new global geopolitical – and geoeconomic – paradigm, with a sonic boom bound to echo for the rest of the century. That was the killer one-two punch immediately following the Atlantic alliance’s ignominious imperial retreat from Afghanistan. Right as the Taliban took control of Kabul on August 15, the redoubtable Nikolai Patrushev, secretary of Russia’s Security Council, told his Iranian colleague Admiral Ali Shamkhani that “the Islamic Republic will become a full member of the SCO.” Dushanbe revealed itself as the ultimate diplomatic crossover. President Xi firmly rejected any “condescending lecturing” and emphasized development paths and governance models compatible with national conditions. Just like Putin, he stressed the complementary focus of BRI and the EAEU, and in fact summarized a true multilateralist Manifesto for the Global South. Right on point, President Kassym-Jomart Tokayev of Kazakhstan noted that the SCO should advance “the development of a regional macro-economy.” This is reflected in the SCO’s drive to start using local currencies for trade, bypassing the US dollar. With Iran's arrival, the SCO member-states now number nine, and they're focused on fixing Afghanistan and consolidating Eurasia. Watch that quadrilateral Dushanbe was not just a bed of roses. Tajikistan’s Emomali Rahmon, a staunch, secular Muslim and former member of the Communist Party of the USSR – in power for no less than 29 years, reelected for the 5th time in 2020 with 90 percent of the vote – right off the bat denounced the “medieval sharia” of Taliban 2.0 and said they had already “abandoned their previous promise to form an inclusive  government.” Rahmon, who has never been caught smiling on camera, was already in power when the Taliban conquered Kabul in 1996. He was bound to publicly support his Tajik cousins against the “expansion of extremist ideology” in Afghanistan – which in fact worries all SCO member-states when it comes to smashing dodgy jihadi outfits of the ISIS-K mold . The meat of the matter in Dushanbe was in the bilaterals – and one quadrilateral. Take the bilateral between Indian External Affairs Minister S. Jaishankar and Chinese FM Wang Yi. Jaishankar said that China should not view “its relations with India through the lens of a third country,” and took pains to stress that India “does not subscribe to any clash of civilizations theory.” That was quite a tough sell considering that the first in-person Quad summit takes place this week in Washington, DC, hosted by that “third country” which is now knee deep in clash-of-civilizations mode against China. Pakistani Prime Minister Imran Khan was on a bilateral roll, meeting the presidents of Iran, Belarus, Uzbekistan and Kazakhstan. The official Pakistani diplomatic position is that Afghanistan should not be abandoned, but engaged. That position added nuance to what Russian Special Presidential Envoy for SCO Affairs Bakhtiyer Khakimov had explained about Kabul’s absence at the SCO table: “At this stage, all member states have an understanding that there are no reasons for an invitation until there is a legitimate, generally recognized government in Afghanistan.” And that, arguably, leads us to the key SCO meeting: a quadrilateral with the Foreign Ministers of Russia, China, Pakistan and Iran. Pakistani Foreign Minister Qureshi affirmed: “We are monitoring whether all the groups are included in the government or not.” The heart of the matter is that, from now on, Islamabad coordinates the SCO strategy on Afghanistan, and will broker Taliban negotiations with senior Tajik, Uzbek and Hazara leaders. This will eventually lead the way towards an inclusive government regionally recognized by SCO member-nations. Iranian President Ebrahim Raisi was warmly received by all – especially after his forceful keynote speech, an Axis of Resistance classic. His bilateral with Belarus president Aleksandr Lukashenko revolved around a discussion on “sanctions confrontation.” According to Lukashenko: “If the sanctions did any harm to Belarus, Iran, other countries, it was only because we ourselves are to blame for this. We were not always negotiable, we did not always find the path we had to take under the pressure of sanctions.” Considering Tehran is fully briefed on Islamabad’s SCO role in terms of Afghanistan, there will be no need to deploy the Fatemiyoun brigade – informally known as the Afghan Hezbollah – to defend the Hazaras. Fatemiyoun was formed in 2012 and was instrumental in Syria in the fight against Daesh, especially in Palmyra. But if ISIS-K does not go away, that’s a completely different story. Particular important for SCO members Iran and India will be the future of Chabahar port. That remains India’s crypto-Silk Road gambit to connect it to Afghanistan and Central Asia. The geoeconomic success of Chabahar more than ever depends on a stable Afghanistan – and this is where Tehran’s interests fully converge with Russia-China’s SCO drive. What the 2021 SCO Dushanbe Declaration spelled out about Afghanistan is quite revealing: 1. Afghanistan should be an independent, neutral, united, democratic and peaceful state, free of terrorism, war and drugs. 2. It is critical to have an inclusive government in Afghanistan, with representatives from all ethnic, religious and political groups of Afghan society. 3. SCO member states, emphasizing the significance of the many years of hospitality and effective assistance provided by regional and neighboring countries to Afghan refugees, consider it important for the international community to make active efforts to facilitate their dignified, safe and sustainable return to their homeland. As much as it may sound like an impossible dream, this is the unified message of Russia, China, Iran, India, Pakistan and the Central Asian “stans.” One hopes that Pakistani PM Imran Khan is up to the task and ready for his SCO close-up. That troubled Western peninsula The New Silk Roads were officially launched eight years ago by Xi Jinping, first in Astana – now Nur-Sultan – and then in Jakarta. This is how I reported it at the time. The announcement came close to a SCO summit – then in Bishkek. The SCO, widely dismissed in Washington and Brussels as a mere talk shop, was already surpassing its original mandate of fighting the “three evil forces” – terrorism, separatism and extremism – and encompassing politics and geoeconomics. In 2013, there was a Xi-Putin-Rouhani trilateral. Beijing expressed full support for Iran’s peaceful nuclear program (remember, this was two years before the signing of the Joint Comprehensive Plan of Action, also known as the JCPOA). Despite many experts dismissing it at the time, there was indeed a common China-Russia-Iran front on Syria (Axis of Resistance in action). Xinjiang was being promoted as the key hub for the Eurasian Land Bridge. Pipelineistan was at the heart of the Chinese strategy – from Kazakhstan oil to Turkmenistan gas. Some people may even remember when Hillary Clinton, as Secretary of State, was waxing lyrical about an American-propelled New Silk Road. Now compare it to Xi’s Multilateralism Manifesto in Dushanbe eight years later, reminiscing on how the SCO “has proved to be an excellent example of multilateralism in the 21stcentury,” and “has played an important role in enhancing the voice of developing countries.” The strategic importance of this SCO summit taking place right after the Eastern Economic Forum (EEF) in Vladivostok cannot be overstated enough. The EEF focuses of course on the Russian Far East – and essentially advances interconnectivity between Russia and Asia. It is an absolutely key hub of Russia’s Greater Eurasian Partnership. A cornucopia of deals is on the horizon – expanding from the Far East to the Arctic and the development of the Northern Sea Route, and involving everything from precious metals and green energy to digital sovereignty flowing through logistics corridors between Asia and Europe via Russia. As Putin hinted in his keynote speech, this is what the Greater Eurasia Partnership is all about: the Eurasia Economic Union (EAEU), BRI, India’s initiative, ASEAN, and now the SCO, developing in a harmonized network, crucially operated by “sovereign decision-making centers.” So if the BRI proposes a very Taoist “community of shared future for human kind,” the Russian project, conceptually, proposes a dialogue of civilizations (already evoked by the Khatami years in Iran) and sovereign economic-political projects. They are, indeed, complementary. Glenn Diesen, Professor at the University of South-Eastern Norway and an editor at the Russia in Global Affairs journal, is among the very few top scholars who are analyzing this process in depth. His latest book remarkably tells the whole story in its title:  Europe as the Western Peninsula of Greater Eurasia: Geoeconomic Regions in a Multipolar World. It’s not clear whether Eurocrats in Brussels – slaves of Atlanticism and incapable of grasping the potential of Greater Eurasia – will end up exercising real strategic autonomy. Diesen evokes in detail the parallels between the Russian and the Chinese strategies. He notes how China “is pursuing a three-pillared geoeconomic initiative by developing technological leadership via its China 2025 plan, new transportation corridors via its trillion-dollar Belt and Road Initiative, and establishing new financial instruments such as banks, payment systems and the internationalization of the yuan. Russia is similarly pursuing technological sovereignty, both in the digital sphere and beyond, as well as new transportation corridors such as the Northern Sea Route through the Arctic, and, primarily, new financial instruments.” The whole Global South, stunned by the accelerated collapse of the western Empire and its unilateral “rules-based order," now seems to be ready to embrace the new groove, fully displayed in Dushanbe: a multipolar Greater Eurasia of sovereign equals. Tyler Durden Wed, 09/22/2021 - 23:20.....»»

Category: blogSource: zerohedgeSep 22nd, 2021

The federal funds rate is the benchmark interest rate that affects borrowing costs across the US economy

The federal funds rate is the interest banks charge each other for overnight loans. Set by the Federal Reserve, it's a basis for other interest rates. While it technically applies only to banks, the federal funds rate impacts interest rates on a variety of loans and investments. Richard Drew/Associated Press Set by the Federal Reserve, the federal funds rate is the interest banks charge each other to borrow money overnight. Changes in the federal funds rate impact the interest rates on consumer loans, credit cards, and bank accounts. The federal funds rate is the key tool the Federal Reserve uses to stimulate or slow down the economy. Visit Insider's Investing Reference library for more stories. The major mandate of the Federal Reserve - the central bank of the US - is to keep the nation's financial system solvent and manage its money supply (the amount of cash and readily available funds in circulation). It does this through a balancing act involving interest rates - specifically one called the federal funds rate. The federal funds rate ("fed funds rate," for short) is only used between banks; it's not an interest rate an individual can apply for or a financial account will earn. But it's a key benchmark. After the Fed sets it, the federal funds rate becomes the basis for interest charged on loans and credit card purchases, and the return offered by fixed-income investments, like bonds and annuities. The level of interest rates - how cheap or expensive it is to borrow money - affects business and consumer spending. So, through the federal funds rate, the Fed tries to keep the entire economy on course. Here's how it works, and the ways it can affect you.What is the federal funds rate?The federal funds rate, also known as the overnight rate, is the interest commercial banks charge when they lend money to one another for extremely short-term periods - literally, overnight. The Fed mandates this activity between banks to ensure they meet their reserve requirements. That is, it requires that each bank must maintain enough cash on hand, plus a reserve balance with the central bank, to cover a certain percentage of its deposits and other liabilities on every business day. These regulations are to make sure that a bank's account-holders always have ready access to their money. If banks are short on funds to maintain their reserve requirement, they borrow from another - at (or very close to) the fed funds rate.There are two types of federal funds rates:The federal funds effective rate is the weighted average of all the interest rates banks pay when they borrow from other banks in the country.The federal funds target rate is the rate set by the Federal Open Market Committee (FOMC), the monetary policy-making body of the Federal Reserve, to serve as the guidepost by which banks charge each other. Made up of the Fed's Board of Governors and five regional Federal Reserve Bank presidents, the FOMC meets at least eight times a year to decide the federal funds rate based on prevailing economic conditions.When people refer to the Fed "slashing the interest rate" or "raising interest rates," they usual mean the federal funds target rate.What is the current federal funds rate?On September 22, 2021, the Federal Reserve maintained the federal funds rate at a range of 0% to 0.25%. This remains unchanged from the first time the Fed lowered the benchmark rate to almost 0% on March 15, 2020 in response to the COVID-19 pandemic. The fed funds rate averaged 5.59% from 1971 until 2020.How does the federal funds rate affect the economy?During its eight meetings a year, the FOMC can raise, lower, or keep the fed funds rate the same. But what motivates the committee to periodically change it? How does the Fed use it as an economy-adjusting tool?When it needs to stimulate economic growth - production, spending, expansion - the Fed lowers the fed funds rate. This move makes it cheaper for banks to borrow money and maintain their reserves. So these banks can then lend out their extra funds at lower financing costs, encouraging companies and individuals to take out loans to expand, invest, and buy things. It increases the money supply in the system, in technical terms.In contrast, when the Fed needs to slow down the economy - say, because prices are climbing too fast, causing rampant inflation - it raises the fed funds rate. To prevent their required reserve balance from going into the red, member banks have to pay more interest. They then raise their interest rates to clients, which tends to slow down any form of borrowing activity. When banks don't finance as much, the money supply contracts, and economic growth goes back to more sustainable levels. !function(){"use strict";window.addEventListener("message",(function(a){if(void 0!==a.data["datawrapper-height"])for(var e in a.data["datawrapper-height"]){var t=document.getElementById("datawrapper-chart-"+e)||document.querySelector("iframe[src*='"+e+"']");t&&(t.style.height=a.data["datawrapper-height"][e]+"px")}}))}();How does the federal funds rate affect you?The federal funds rate is an interbank interest rate. But it has a ripple effect throughout people's financial lives, the interest they pay, and the money they earn. Among its effects:Prime rate: How the fed funds rate moves influences the movement of a number of interest rates, one of the most significant being the prime rate. The prime rate is the rate a bank can offer its best corporate or high-net-worth individual clients. Consumer loans and accounts: A shift in the prime rate influences consumer interest rates as well. When the prime rate rises or drops, you can expect a corresponding adjustment on the monthly charges of your personal loans, credit cards, and adjustable-rate mortgages. If they pay fluctuating interest, your bank accounts and CDs also earn more or less.US Treasuries and other bonds: Changes in the fed funds rate can be paralleled in the interest rates paid by newly issued Treasury notes and bonds. These in turn serve as a benchmark for corporate bond rates. Stocks: A decrease in the feds fund rate can send markets soaring, while an increase can push the markets to decline. Employment: When interest rates go down, it encourages consumers to buy more goods and services. In turn, this propels businesses to meet the demand by expanding production, hiring more workers, and raising wages.The financial takeawayThe federal funds rate is an important tool - the tool, some would say - the Federal Reserve uses to stimulate or slow down the economy. Not to mention, maintain the solvency and reliability of the nation's banks.Financial institutions, corporations, and individuals are all affected by the federal funds rate one way or another. There's not much you can do to alter the Fed's moves or even anticipate them, but it's good to understand how it can influence your daily life and finances. The Federal Reserve is the central bank of the US - here's why it's so powerful and how it affects your financial lifeWhy the Federal Reserve uses contractionary monetary policy to curb the inflation that accompanies an overheating economyWhat is a bond? How to earn a steady stream of income by loaning money to a business or governmentWhat is inflation? Why the cost of goods rise over time and what it means for the value of your moneyRead the original article on Business Insider.....»»

Category: smallbizSource: nytSep 22nd, 2021

The 4 best OLED TVs in 2021 for vibrant, high-end picture quality

OLED TVs can deliver an impressive entertainment experience in your home. Here are our top OLED TV picks in 2021 from LG, Sony, and Vizio. Table of Contents: Masthead Sticky OLED TVs offer key benefits over LCDs, making them ideal for buyers who want high-end image quality. The LG CX presents the best balance between picture and price of any OLED we've tested. Read more about why you can trust our tech team to provide the best product recommendations. OLED TVs have become popular among home theater enthusiasts, and it's easy to see why. Thanks to some key perks, OLED displays offer several benefits over traditional LCD TVs (including those branded as LED and QLED). Though they tend to be pricier, there's no substitute for an OLED if you want the best home theater experience for movies, streaming, and gaming.OLED stands for "organic light-emitting diode." Instead of using a traditional LED backlight like those found on an LCD TV, OLED screens are self-illuminating. This means that each pixel on an OLED can emit its own light or turn off completely, enabling an infinite contrast ratio.As a result, OLED TVs are capable of true black levels - something even the best LCDs have a hard time producing. Viewing angles are also better than typical LCD displays, making OLEDs a great fit for rooms where people need to sit off to the side of their TV. On the downside, OLEDs can't get as bright as flagship LCD TVs, which makes OLED displays less ideal for living rooms that let in a lot of sunlight. LG, Sony, and Vizio all sell OLED TVs in the US. While image quality does vary a bit between the displays, the TVs' physical design, connectivity, and software are the most telling differences. With that in mind, we've tested and researched several OLED displays in order to select the best models for a variety of needs and budgets. Here are the best OLED TVs you can buy:Best OLED TV overall: LG CXBest OLED TV for picture quality: Sony A80JBest premium design OLED TV: LG GXBest budget OLED TV: Vizio H1 The best OLED TV overall LG The LG CX OLED presents the best balance between picture performance, smart connectivity, design, and value of any OLED TV you can buy. HDR formats: HDR10, Dolby Vision, HLGHDMI version: HDMI 2.1Sizes: 48,- 55-, 65-, and 77-inch modelsRead our LG CX OLED 4K TV reviewPros: Solid brightness for an OLED, HDMI 2.1 with next-gen gaming features, voice remote, lots of screen sizesCons: Processing and image accuracy aren't as good as Sony OLEDsWhen it comes to balancing image quality and smart features, the CX remains the best OLED TV you can buy. LG sells a 2021 successor to the CX, called the C1, but we think the CX presents a better value since it costs less and offers very similar performance. Like all OLED TVs, the CX provides pixel-level contrast with deep black levels and precise highlights. Peak brightness is also good for an OLED, with a max of around 700 to 800 nits. Thanks to the α9 Gen 3 Intelligent Processor, the CX is capable of advanced upscaling. This feature can make lower-quality video content, like Full HD (1080p), look cleaner and sharper. That said, Sony's OLED offerings are still known for slightly better processing.The panel offers very low input lag and includes compatibility with Variable Refresh Rate, Nvidia G-Sync, and 120Hz high frame rate. These features help make the CX one of the best gaming displays you can buy, and we think the 48-inch model is a great alternative to a traditional monitor.The CX is powered by LG's webOS and ThinQ platforms, enabling extensive streaming app support and voice control. The magic remote also features a unique pointer function which allows you to navigate through menus with a virtual cursor. The best OLED TV for picture quality Sony Sony's A80J is the best premium TV on the market for image accuracy, but it's a little pricey.HDR formats: HDR10, Dolby Vision, HLGHDMI version: HDMI 2.1Sizes: 55-, 65-, and 77-inch modelsPros: High-end processing for industry-leading image accuracy, acoustic surface audio technology, HDMI 2.1Cons: No VRR support yet (coming in future firmware), a little expensiveThe Sony A80J OLED (2021) is the successor to last year's A8H (2020). Though both models offer similar performance, the new A80J features a few key upgrades for about the same price.Most notably, the 2021 model includes HDMI 2.1 ports, enabling advanced gaming features like 4K/120Hz for PS5 and Xbox Series X owners.  Sony also improved the display's picture processing with new cognitive technology to cross-analyze picture elements simultaneously instead of individually. The resulting image is stunning in person.This advanced processing gives the A80J an edge over LG and Vizio OLEDs when it comes to image accuracy. During annual TV competitions, Sony's OLEDs consistently come the closest to matching the look of professional broadcast monitors and we expect the A80J to be no different. The A80J also features a unique audio system with acoustic surface technology. Instead of conventional speakers, the TV uses actuators behind the panel to create sound from the screen itself. This lets speech sound as if it's coming from the mouths of characters on screen. Sony also offers a step-up A90J model, which adds a few extra perks here and there, including a brighter image in some picture modes. That said, image processing is the same and Sony says brightness capabilities are similar to the A80J when using the most accurate picture settings. Since the A90J is considerably more expensive, we think the A80J is a better overall pick. The best premium design OLED TV Monica Chin/Business Insider With a display so thin it can hang flush on your wall like a piece of art, the LG GX is one of the prettiest OLED TVs to look at — whether it's turned on or off.HDR formats: HDR10, Dolby Vision, HLGHDMI version: HDMI 2.1Sizes: 55-, 65-, and 77-inch modelsPros: Same great image performance as the LG CX, thin design lets you mount it flush to a wallCons: More expensive than most OLED models with standard designsBeyond impressive picture performance, the GX boasts an exceptionally thin profile, enabling the display to be mounted like a piece of art hanging flush on your wall. At just 0.79 inches deep, the 65-inch GX Gallery TV offers an incredibly narrow design.LG has also been able to keep all of the TV's components within the panel. This means that GX TVs don't need to use an external box or soundbar unit as a connection hub. Instead, you can simply hook up all your devices directly to the display. When it comes to actual image quality, the GX OLED TV offers very similar performance to the rest of the displays on our list. Since those TVs are among the best you can buy, that's not a bad thing at all.At the end of the day, you're paying extra purely for style perks with this model, but if you plan to mount your TV on a wall, the GX can double as a genuine design piece for your living room.That said, LG has a new 2021 version of the GX available, called the G1. The updated model has a new "OLED evo" panel which promises improved brightness. It's more expensive than the 2020 model, however, so we still recommend the GX for most buyers.  The best budget OLED TV Vizio Vizio's 65-inch 4K OLED TV offers all the OLED picture quality benefits that home theater fans love for less than the competition.HDR formats: HDR10, HDR10+, Dolby Vision, HLGHDMI version: HDMI 2.1Sizes: 55- and 65-inch modelsRead our Vizio 4K OLED TV reviewPros: Unbeatable image performance for the price, only OLED model in the US with HDR10+, HDMI 2.1 portsCons: Glitches, on-screen app selection is limited, no voice remoteIn the US, OLED TV models have primarily been limited to high-end offerings from LG and Sony. Though these TVs have been undeniably gorgeous, they've also been expensive. Thanks to Vizio's OLED, however, that high cost barrier is starting to disappear.Just like Sony and LG's OLEDs, Vizio's model offers pixel-level contrast with true black levels. The display can't get quite as bright as LG's OLEDs, but it can get close with a max of around 700 nits. Vizio's OLED has comprehensive HDR support and it's the only model on our list with HDR10+ playback. It also supports HDMI 2.1. On the downside, the TV is missing a voice remote. You can still pair it with a separate Google Assistant or Amazon Alexa device, however.Though image quality is nearly identical to more expensive OLEDs, the Vizio does lose some points when it comes to general stability. I encountered glitches and compatibility issues when reviewing the TV. Thankfully, most of these problems have been fixed through firmware updates, but it's a shame the display's software isn't more reliable. Still, there's no denying the incredible value this OLED offers. When it's on sale it delivers unbeatable picture quality for the price. In fact, if it wasn't for those glitches, Vizio's OLED might even edge out the CX for the top spot on this list. As it stands, it's not quite there, but it's a fantastic option for budget-conscious buyers. OLED vs. LCD Samsung's QN90A uses an LCD panel. Samsung When buying a new TV, shoppers have two main display technologies to choose from: LCD and OLED.In the US, you can buy OLED TVs from brands like LG, Sony, and Vizio. Meanwhile, LCD TVs are sold by all major manufacturers, but some companies use different marketing terms for their LCD models, including LED, QLED, Neo QLED, NanoCell, and QNED.LCD TVs are known for their high brightness, especially on flagship models. On the downside, LCDs use backlights which can lead to washed-out black levels, blooming, and uniformity issues. LCD TVs are also known for mediocre viewing angles, which cause colors and contrast to distort when you sit off to the side.On the other hand, OLED TVs are celebrated for their infinite contrast ratios. Unlike LCD displays, OLED TVs don't need a backlight. Instead, each pixel dims and brightens on its own so the TV can create true black levels in dark scenes. OLEDs also have wide viewing angles. On the downside, OLED TVs can't get as bright as the best LCD TVs and they can be susceptible to burn-in in some instances.Ultimately, LCDs are generally better for buyers who watch TV in bright rooms that let in a lot of light. OLEDs are better for home theater environments where you watch movies with the lights off. Both display types can provide impressive picture quality but, in most cases, we prefer OLED for the very best contrast. That said, mid-range and entry-level LCD models are cheaper than most OLEDs, so they can be a better option if you're on a budget. Should you worry about burn-in on an OLED TV? Vizio Like plasma TVs of yesteryear, OLED panels are susceptible to a problem known as burn-in. This means that if a static image is left on the screen for hours on end — the CNN or ESPN logo in the corner, for example — a faint, ghostly image can be left permanently stuck on the TV.Though OLED owners should be aware of this risk, OLED TVs feature special measures to help prevent burn-in, including pixel-refreshers and pixel-shift modes. Websites like Rtings have conducted long-term tests with OLEDs, and while their results do prove that burn-in is possible, their tests show that buyers with regular viewing habits really shouldn't worry about it. You're more likely to notice temporary image retention, which is when a ghost image faintly lingers on the screen and then fades away over time. Though true burn-in is really only a risk in extreme situations, it is worth pointing out that LCD TV owners don't have to worry about burn-in at all.If you really only plan on watching content with the same static logos all day long, you're better off with an LCD (also branded as LED or QLED). Buyers with regular viewing habits, however, shouldn't be put off from buying an OLED TV because of burn-in. The best deals on OLED TVs from this guide If you want the best image quality and the darkest blacks you can only get from OLED TVs, we've rounded up the best deals we found on our top picks. Perfect for your family room, bedroom, or basement movie theater, you can score deals on displays from LG, Sony, and Vizio. These sets are terrific, but they often come with a sizable price tag. Luckily,  sales do pop up, with discounts that usually amount to at least $100 off.Here are the best deals we've found on OLED TVs65-inch OLED 4K TV (medium, Preferred: Best Buy)65-inch A80J OLED 4K TV (medium)Read more about how the Insider Reviews team evaluates deals and why you should trust us. Check out our other TV buying guides Amazon The best cheap TVsThe best 4K TVs  Read the original article on Business Insider.....»»

Category: worldSource: nytSep 22nd, 2021

Macy"s (M) Braces for the Holiday Season, Unveils Hiring Plans

Macy's (M) will hire 76,000 full- and part-time employees across stores, call centers, distribution facilities and fulfillment centers. With the holiday season approaching, retailers are up and about with their hiring plans. The customary hiring practice for the festive season has swinged in early this year, thanks to tight labor market conditions. Macy's, Inc. M is the latest to join the list of retailers prepping for the additional staff support needed for the holiday season to meet consumers’ demand. The company unveiled plans to hire 76,000 full- and part-time job employees, offering competitive packages and bonuses. It is offering both temporary and permanent openings. Let’s take a closer look at the company’s hiring plans.Ramping Up Staff Strength for Holiday SeasonThe holiday season is traditionally characterized with high demand as consumers shop for gifting purposes as well as for themselves, making use of attractive deals and offers that retailers provide at this time of the year. The requirement for extra employee strength becomes crucial for several big-box retailers in order to manage high consumer traffic — across the digital and brick-and-mortar platforms — as well as to ensure smooth flow of merchandise and delivery services.This year, Macy's will be hiring nearly 76,000 full- and part-time employees across Bloomingdale’s, Bluemercury and Macy’s stores as well as its call centers, distribution facilities and fulfillment centers. The company stated that approximately 48,000 of these new job roles are for the holiday season, while the rest are permanent opportunities to join the company on a part- or full-time basis for the holidays and beyond.Macy's national hiring event will be held on Sep 23, 2021, across more than 500 stores. The hiring process will be carried out both online as well as via walk-ins. The hiring event is an opportunity for the company’s colleagues to earn a referral bonus of up to $500 for every friend or family member they recruit to join Macy’s. They also have an opportunity to earn additional income through various programs, such as the weekend bonus program and Path to Growth Incentive.The company will hire 21,200 employees for its fulfillment centers, including warehouse colleagues and forklift drivers. These workers are expected to play an important role in fulfilling demand online as well as the mobile app through tasks like receiving, sorting, picking, packing and shipping. The company will employ 50,000 Macy’s, 4,100 Bloomingdale and 315 Bluemercury staff for a variety of store roles. They will play a critical role in providing a satisfactory shopping experience. A majority of these roles are for the sales and experience team along with the merchandising and operations units. The opportunities range from entry-level to executive roles for candidates with a variety of skills and interests.Apart from these, the company will hire 300 employees for the Macy’s Credit and Customer Service (MCCS) to boost digital and in-store shopping experience as well as manage relationships with omnichannel and credit cardholder customers. It is also providing more than 200 technology-based jobs in its Johns Creek campus in the suburbs of Atlanta as the company expands its focus on improving omnichannel shopping experience and evolving its technology platforms as part of the Polaris strategyMacy’s hiring plans indicate that the company is focusing on boosting operations across the digital and physical facets, and thereby provide superior omnichannel experience to customers. The company is known for offering competitive pay and other benefits, a bilingual work environment as well as access to flexible schedules that allows employees to choose regular and optional overtime shifts.Image Source: Zacks Investment ResearchHiring Plans of Other Retailers This Holiday SeasonIn preparedness for the upcoming holiday sales, supermarket biggie — Walmart Inc. WMT — announced plans to appoint 20,000 new workers at more than 250 distribution centers, fulfillment centers and transportation offices. These job roles will be permanent and will be offered in part-time and full-time options. Kohl's Corporation KSS intends to recruit nearly 90,000 seasonal workers for several roles at its stores, distribution centers and e-commerce fulfilment centers.Ollies Bargain Outlet Holdings, Inc. OLLI announced plans to recruit more than 3,000 associates for full-time, part-time, seasonal and leadership positions across its 400 plus retail locations as well as three distribution centers. Other retailers who have unveiled hiring plans for this holiday season are DICK’S Sporting Goods and FLOWERS.COM and few others.As the holiday season accounts for a significant chunk of revenues, retailers are resorting to every effort to make the most of it, starting with prudent hiring plans. All said, we expect that Macy’s hiring efforts are likely to keep it well prepared for the upcoming seasonal rush and offer seamless shopping experience to customers.Shares of this Zacks Rank #1 (Strong Buy) company have gained 15% in the past three months compared with the industry’s rise of 3.7%.You can see the complete list of today’s Zacks #1 Rank stocks here. Infrastructure Stock Boom to Sweep America A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made. The only question is “Will you get into the right stocks early when their growth potential is greatest?” Zacks has released a Special Report to help you do just that, and today it’s free. Discover 7 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.Download FREE: How to Profit from Trillions on Spending for Infrastructure >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Macys, Inc. (M): Free Stock Analysis Report Kohls Corporation (KSS): Free Stock Analysis Report Walmart Inc. (WMT): Free Stock Analysis Report Ollies Bargain Outlet Holdings, Inc. (OLLI): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksSep 22nd, 2021

A Confused Wall Street Reacts To Evergrande"s Debt Payment

A Confused Wall Street Reacts To Evergrande's Debt Payment After two anxiety-filled days during which China was on holiday and traders hammered Hong Kong trader property stocks, contagion fears arising from China Evergrande Group’s debt crisis moderated overnight with mainland stocks declining less than expected on Wednesday as they resumed trading, after Evergrande’s onshore unit unveiled vaguely worded plans to pay interest due Thursday on a yuan bond, while leaving the fate of a $83.5 million offshore bond coupon payment in limbo. As we noted earlier, in its filing to the Shenzhen Stock Exchange, the Evergrande unit said that it reached an agreement with yuan bondholders on an interest payment due Sept. 23. It, “has been resolved via negotiations off the clearing house,” but didn’t specify how much or when it will pay the 232m yuan coupon at stake. The language is potentially ominous because under normal circumstances, Chinese bond issuers would simply transfer money to a clearing house to complete payments. The “off-the-clearing house” approach usually means direct but delayed, or partial payment to bondholders. There could even be a lower interest rate involved. In short: it’s one way to avoid being called a defaulter. As Bloomberg's Shen Hong wrote, "Evergrande may have secured bondholders’ agreement with a payment extension or at least succeeded in asking them not to act until compromise is reached, even as it misses the payment due Thursday." In any case, the notice coupled with a 120 billion liquidity injection by the PBOC, the largest since January, and sparking hope that Beijing won't leave the property market in turmoil... ... ushered in relief across markets, with China's CSI 300 Index trimming losses to just 0.7% as of the mid-day lunch break after falling as much as 1.9% at open. Market participants said the development could provide support to stocks battered by regulatory worries, with an injection of short-term cash by the People’s Bank of China also boosting sentiment. In any case, as the sampling of Wall Street reactions to the Evegrande announcement courtesy of Bloomberg shows, responses ranged from the cheerfully optimistic to the downright pragmatic, with some predicting this is the end of the Evergrande drama while others speculating that it is only just starting. Liu Xiaodong, fund manager at Shanghai Power Asset Management Co. “There is evidently a large disparity between what onshore stock investors make of the Evergrande risks and the broader pessimism offshore. I agree with local investors that Evergrande ultimately will not be a systemic risk, and authorities will take action to prevent it from being one, and this difference in attitudes stems from different read of the government need to get involved in risk containment.” “However I don’t think the news today changes much and I won’t be trading much on company headlines since I believe that it will not be systemic and will only affect property and companies in the supply chain.” Jun Rong Yeap, market strategist at IG Asia Pte. “I think we may be seeing a temporary reprieve with some repayments aiding to provide a better-than-expected situation than many would expect. This also comes along with some injection of short-term funds by the PBOC, which suggests that they are monitoring the situation closely and are ready to step in if the economy comes under risks.” Kelvin Wong, analyst at CMC Markets (Singapore) Pte.: Short-term traders or investors that use momentum-driven quantitative strategies “are likely to initiate long positions for a potential mean reversion rebound play plus risk/reward ratio of such trading strategies are attractive at this level,” he said. The Evergrande coupon news “has added another layer of positive feedback loop in terms of short-term sentiment that is likely to prevent the CSI 300 from a much more pronounced decline,” after the Hang Seng Property Index went into oversold territory this week. Gary Dugan, chief executive officer at the Global CIO Office: Evergrande news “will be helpful and hopefully suppress some of the inevitable volatility and downside after the holiday break. That said for confidence to return more meaningfully will need the market to see sight of the broad restructuring plans for Evergrande.” Thomas Westwater and Daniel Dubrovsky, analyst and strategist at DailyFX: “A liquidity injection from the People’s Bank of China accompanied the Evergrande announcement, which only served to bolster sentiment further,” Westwater and Dubrovsky wrote in a note. “Chinese policymakers stopped short of cutting 1- and 5-year loan prime rates, however. For now, it appears that market-wide contagion risk linked to a potential Evergrande collapse is off the table.” James Sullivan, head of Asia Pacific equity research at JPMorgan Chase & Co. told Bloomberg Television: “Evergrande is still likely to default. This is not a company specific issue, this is a structural issue that will impact the entirety of the Chinese developer space but this will not become systemic. We see potential buying opportunities in less leveraged developers with lower inventory levels but we do not see this as a contagion risk for the rest of the region at all.” Tyler Durden Wed, 09/22/2021 - 09:15.....»»

Category: blogSource: zerohedgeSep 22nd, 2021

Some of the best hotels in Las Vegas aren"t on the Strip - here"s where to find a great stay starting at $30

Here's where to stay off the Strip in Las Vegas, including cheap and luxury hotels near Downtown, Fremont Street, Summerlin, Henderson, and Red Rocks. When you buy through our links, Insider may earn an affiliate commission. Learn more. Tripadvisor The Las Vegas Strip draws millions, but locals know that's not the real heart of the city. Downtown Las Vegas, Fremont Street, and suburbs are more authentic with cheaper casinos and hotels. Some of the best Las Vegas hotels are off-Strip, from retro motels to luxury amid the Red Rocks. Table of Contents: Masthead StickyThe Las Vegas Strip is the city's glitzy, showy draw, luring millions of tourists each year. But it's hardly the sole attraction.As a Las Vegas local, I want you to know there's much more to this wonderful city than just what you'll find along Las Vegas Boulevard. And while you can (and should) enjoy time on the Strip, going off-Strip will show you a part of the city you've never experienced, one that's neighborhood-centric, artsy, outdoorsy, and filled with character.As such, the next time you're looking for a Las Vegas hotel, consider an off-Strip hotel. From historic Fremont Street hotels that lean into a vintage Vegas aesthetic to luxurious desert escapes with spas and pools, these off-Strip hotels also boast lower prices and gaming minimums than their Las Vegas Boulevard counterparts. Browse all the best off-Strip Las Vegas hotels below, or jump directly to a specific area:The best off-Strip hotels in Las VegasFAQ: Las Vegas hotelsHow we selected the best off-Strip hotels in Las VegasMore of the best places to stay in Las VegasThese are the best off-Strip hotels in Las Vegas, sorted by price from low to high. El Cortez Hotel & Casino This property dating back to 1941 is the longest continuously-running casino in Las Vegas. Tripadvisor Book El Cortez Hotel & CasinoCategory: BudgetNeighborhood: Downtown Typical starting/peak price: $30/$125Best for: Groups of friends, solo travelers, couplesOn-site amenities: 24-restaurant known for its shrimp cocktail and prime rib, bars with live entertainment, spa, beauty salon, old-school barbershop, casino, sportsbookPros: This is a very budget-friendly option in the heart of the trendy Fremont East District that will be enticing to history buffs. The 1941 era property is the longest continuously-running casino in Las Vegas.Cons: This is an older property that is showing its age. You will either find it charming or hopelessly dated. There's also no pool.Listed on the National Register of Historic Places, the El Cortez and its pink neon cursive sign harken back to the early days of Las Vegas. The Spanish Colonial Revival style architecture stands out in a city increasingly defined by steel and glass.Step inside and find a dimly lit casino, a lobby bar with a live piano, and no-frills rooms. Amenities are limited. There's no pool and the retail space is just a small general store.Most people who appreciate the El Cortez do so because they either like the history or the low prices. For something more modern, book a room at the El Cortez Cabana Suites, the 64-room sister property across the street with tufted white headboards, green walls, marble bathrooms, and a fitness center.COVID-19 procedures are available here. Downtown Grand Hotel & Casino Vibrant, bright colors create a tropical look on the aptly named Citrus Pool Deck. Tripadvisor Book Downtown Grand Hotel & CasinoCategory: BudgetNeighborhood: DowntownTypical starting/peak price: $33/$217Best for: Couples, groups of friends, locals On-site amenities: Lively rooftop pool, bars, restaurants, live entertainment, meeting and event spacePros: The 3rd Street location gives easy access to stellar restaurants and the Mob Museum is just across the street. Also, the hotel's rooftop pool has dreamy views come sunset.Cons: The on-site Art Bar, which has paintings hanging from the ceiling, used to be an under-the-radar cocktail lounge, but in recent years, the resort has served continental breakfast there, which feels like a downgrade.Can't decide between the raucous Fremont Street Experience and the slightly more chill East Fremont District? Then try the Downtown Grand, which expertly straddles that line.The recently expanded property (the hotel's 495-room Gallery Tower opened in September 2020) still feels boutique despite the budget price tag. Rooms are simple but comfortable, with white walls, geometric accents, and floor-to-ceiling windows.The real highlight is the Citrus Grand Pool Deck, which was voted the best of Las Vegas' best Downtown hotel pool in 2020. When I first moved to Vegas, I whiled away many a desert afternoon at this rooftop oasis; I love the cocktail program and the city views. COVID-19 procedures are available here. Oasis at Gold Spike Known for its party scene, the pool at Gold Spike is a lively one. Booking.com Book Oasis at Gold SpikeCategory: BoutiqueNeighborhood: DowntownTypical starting/peak price: $35/$149Best for: Groups of friends, solo travelers, young professionalsOn-site amenities: Pool, bike rentals, restaurant, bar, coworking space, fitness center, backyard area with gamesPros: This hotel is vibrant and social. It's not just close to the party; this is the party. Plus, unique rooms include a solar-powered trailer and the penthouse where the 31st season of The Real World was filmed.Cons: This hotel can be very loud (especially on weekends) and rooms are small.Like a lot of things in Downtown Las Vegas, the Oasis at Gold Spike (formerly the Gold Spike Hotel & Casino) used to be a little bit seedy. Now, it's a millennial/Gen Z hangout with a vinyl soundtrack, a coworking space that turns into a house party at night, and 130 hotel rooms. Notably absent: a casino.Staying here is like staying at a deliberately cool hostel, minus the bunk beds. You'll have your own room, but it'll be small and basic, simply a place to crash after staying out all night. Then you'll wake up, grab a cocktail from the 24-hour bar, and hit the pool.The Oasis at Gold Spike is also steps from all of the bars and restaurants on Fremont Street, so there's much to explore within walking distance, although to be honest, on most nights, the best party is right here.COVID-19 procedures are available here. The Plaza Hotel & Casino An iconic mural keeps watch over the pool at this equally iconic hotel. Tripadvisor Book The Plaza Hotel & CasinoCategory: BudgetNeighborhood: DowntownTypical starting/peak price: $39/$145Best for: Groups of friends, couplesOn-site amenities: Rooftop pool with pickleball court, an outdoor equestrian center that hosts rodeos, bingo, bars, restaurants including a steakhouse that was seen in the movie "Casino"Pros: This budget-friendly hotel has a prime Fremont Street location with unique amenities (name another Downtown hotel that hosts the National Finals Rodeo; you can't) and great views.Cons: The Plaza opened in 1971 and despite a $35 million renovation in 2010, the property still shows signs of wear, particularly in guest hallways and rooms. Nearly every Las Vegas local (and many a visitor) has taken a photo beneath the twinkling gold lights at the entrance to The Plaza. This backdrop, like the hotel itself, is classic Las Vegas.The 995-room property excels by leaning into the 70's vintage vibe hard. From the banana-leaf wallpaper at the coffee shop to the retro Palm Springs-inspired rooftop pool lounge, The Plaza will feel like a Killers music video if you're a young traveler (Spoiler: It was actually in a Killers music video) and you will unironically enjoy the bingo, smoky casino, and showgirl-bespeckled carpet.In some places, The Plaza feels retro in all the right ways — the steakhouse overlooking Fremont Street, the colorful pool area — in other places, such as the 325-square-foot Deluxe rooms, it feels dated and spartan. Spring for a renovated room (especially one of the Pool Patio rooms which includes a private covered patio) or request one of the newer Luxe rooms, which come with voice-activated Amazon Echoes.COVID-19 procedures are available here. M Resort Spa & Casino The 100,000 square-foot pool complex has two infinity pools including a family-friendly pool and a separate day club pool that hosts parties. Tripadvisor Book M Resort Spa & CasinoCategory: Luxury Neighborhood: HendersonTypical starting/peak price: $78/$345Best for: Families, localsOn-site amenities: Pool with summer parties, spa, fitness center, restaurants including a steakhouse and artisan bakery, lounge with UFC viewing partiesPros: M Resort has a locally-loved pool and a location that is convenient for activities in the Henderson area. Rooms are quiet and have unique views.Cons: The surrounding area isn't much of a destination — think suburban sprawl.A staycation favorite among locals, M Resort has a 100,000 square-foot pool complex with two infinity pools. There's a family-friendly pool and a separate day club pool that hosts parties that allow guests to have the option of both a party environment and a more mellow one.Because the property is located south of the Strip in the Henderson area, rooms feature unique views. They're modern and luxe, outfitted with floor-to-ceiling windows, power blinds, and raw wooden decor. On-site restaurants are also a bright spot; find everything from a deli to a steakhouse, and a Raiders-themed bar and grill, which is a popular recent addition.The M Resort is not a place to stay if you want to be close to the action of the Strip and Downtown Las Vegas, but odds are if you're choosing this hotel, a respite from the mayhem is what you're seeking.COVID-19 procedures are available here. Golden Nugget Hotel & Casino The pool complex here is expansive, with restaurants, bars, and even a 200,000-gallon shark tank. Tripadvisor Book Golden Nugget Hotel & CasinoCategory: LuxuryNeighborhood: DowntownTypical starting/peak price: $79/$179Best for: Couples, familiesOn-site amenities: Expansive pool complex with a 200,000-gallon shark tank, wide selection of restaurants and bars, nightclub with patio overlooking Fremont Street, spa, salon, fitness center, retail shopsPros: Multiple fine dining options and comfortable rooms make this a great base, and it's also dog-friendly (not as common Downtown as it is on the Strip). Plus, the shark tank with a slide going through it in the pool area is a fun perk.Cons: Golden Nugget is not as budget-friendly as other Fremont Street hotels and the nightclub may not dazzle guests who are used to the Strip's more opulent ones.Before Circa, the Golden Nugget was the correct answer to, "where can I stay Downtown if I like the vibe of the Strip?" The property, which is in the center of the Fremont Street Experience, has marble floors, upscale restaurants, and a large casino.A large number of the rooms were recently renovated (the Carson Tower and Gold Tower rooms were renovated in 2018 and 2015 respectively) and feature neutral decor, comfortable mattresses, and lots of space. The Rush Tower rooms with California King beds and 439-square feet of space are an excellent value (expect to pay $109-$229 approximately). The pool complex is huge, and even has a shark tank with an adjacent water slide.COVID-19 procedures are available here. The Signature at MGM Grand Every room here is a suite with apartment-like features. Tripadvisor Book The Signature at MGM GrandCategory: Luxury Neighborhood: Near StripTypical starting/peak price: $99/$599Best for: Business travelers, couplesOn-site amenities: Pool, spa, fitness center, lounge, cafePros: All rooms are suites with balconies, which is a real rarity in Las Vegas. It's also slightly removed from the Strip while offering easy access to it.Cons: There are very limited on-site food and drink options unless you walk to the adjacent MGM Grand.If you want to be near the Strip without being directly on the Strip, the Signature at MGM Grand is one of the best options you'll find. This non-gaming property, which is less than a mile from the Strip, is connected to the massive playground that is the MGM Grand (you won't even have to go outside to walk to it) but still feels completely separate.The lobby is tranquil and elegant, and rooms come with kitchenettes, separate living room areas, and in some cases, balconies. Upgrade to a Deluxe Balcony Suite to secure one. They also have spacious spa bathrooms with a rainfall shower, a deep soaking tub, and a TV.While sunning on your balcony, don't be surprised if the view is of a rowdy pool party at the nearby Wet Republic Ultra Pool.COVID-19 procedures are available here. Green Valley Ranch Resort Spa and Casino This family-friendly resort is located in one of Las Vegas' most desirable suburbs. Tripadvisor Book Green Valley Ranch Resort Spa and CasinoCategory: LuxuryNeighborhood: HendersonTypical starting/peak price: $99/$500Best for: Families, locals, foodiesOn-site amenities: Pool, spa, salon, arcade, restaurants, bars, fitness center, concert, event spacePros: Family-friendly and Vegas don't always go hand-in-hand, so the kid-friendly amenities such as the Cyber Quest arcade are a nice touch. Also, locally-acclaimed restaurant Pizza Rock has a location here, which is not to be missed.Cons: Guests complain about long check-in times and long distances between parking areas and rooms. The Las Vegas neighborhood of Green Valley is attractive with locals due to its safety, proximity to the Strip (about a 15-20 minute drive), and The District at Green Valley Ranch, an open-air shopping and dining area. Travelers staying at Green Valley Ranch Resort Spa and Casino, which is just a five-minute walk from The District at Green Valley Ranch, will appreciate these same things.The well-manicured property feels as big as some Strip resorts and has a similar scope of amenities too, including high-end restaurants. Italian restaurant Bottiglia offers a lively brunch with bottomless mimosas, Borracha Mexican Cantina has fresh fish tacos, and Tides Oyster Bar has an outstanding fresh seafood selection.The rooms at Green Valley Ranch Resort Spa and Casino are nothing out of the ordinary, with beige and chocolate brown accents and flat-screen televisions, but they're a good value. Just expect to pay more on weekends.COVID-19 procedures are available here. Virgin Hotels Las Vegas, Curio Collection by Hilton Bright, bold rooms are stylish and new and suites are especially spacious. Virgin Hotels Book Virgin Hotels Las Vegas, Curio Collection by HiltonCategory: LuxuryNeighborhood: Near StripTypical starting/peak price: $111/$500Best for: Groups of friends, couples, Hilton loyalistsOn-site amenities: Live music venue, beach club, pool, spa, fitness center, meeting and event space, sportsbook with interactive games, bars, restaurantsPros: The aesthetic throughout the property aims to please, and rooms are bright and modern with just a bit of quirkiness.Cons: Near Strip is definitely not on-Strip. Expect a 25-minute walk to Las Vegas Boulevard if you dare to go on foot. The brand new Virgin Hotels Las Vegas emerged on former the Hard Rock Hotel and Casino site in 2021 and has made a strong case for a pilgrimage away from the Strip. Though, it is a solid mile away from Las Vegas Boulevard.The hotel is colorful and inviting with jewel-toned furniture and bold accent walls. Rooms are white with pops of color and interesting, modern light fixtures. The property also scores major points for embracing its desert location. You'll be greeted with cacti at the entrance, and once inside, you're met with an infusion of color.Dining and drinking feature venues from Todd English and Nobu Matsuhisa, and as long as you aren't counting on an easy stroll to the Strip, this property will impress. COVID-19 procedures are available here. Circa Resort & Casino The epic pool complex dubbed Stadium Swim is a sight to behold. Tripadvisor Book Circa Resort & CasinoCategory: Luxury Neighborhood: Downtown Las VegasTypical starting/peak price: $139/$639Best for: Groups of friends, couples, locals on staycationOn-site amenities: Year-round pool deck with a massive outdoor screen that broadcasts live sports games, swanky 60th-floor rooftop lounge, three-story sportsbook, the longest outdoor bar on Fremont Street, restaurantsPros: Circa opened in 2020 as the first newly-built hotel-casino in Downtown Las Vegas in 40 years, and it shows. Everything feels fresh, from the art installations in the parking garage (which the resort calls Garage Mahal) to sapphire and gold accents in guest rooms. This is a hotel for people who want a luxury Strip resort but in Downtown Las Vegas.Cons: This hotel still comes with a Strip resort price tag; Circa can be pricier than nearby Fremont Street properties.Located on the former site of the Las Vegas Club, Circa dominates the Downtown Las Vegas skyline with an angular design that looks distinctly modern compared to neighboring hotels.The property, owned by locally famous Derek Stevens who also runs the nearby The D Casino and Hotel, is flashy and upscale. For example, there's a display case containing 1,000 ounces of gold on the rooftop lounge and suites come with Balmain products in the bathroom.Instead of one rooftop pool, there are six spread across three levels. Dubbed Stadium Swim, it features six temperature-controlled pools, two swim-up bars, and a 143-foot diagonal, 14-million-megapixel LED screen, always playing the day's biggest sports games and events. Like most Vegas locals, I am partial to Vegas Vickie's, the casino bar that features Vegas Vickie herself, a beloved neon cowgirl who stood watch over Fremont Street for more than three decades. In a hotel that's so intensely modern, it's nice to see this nod to the neighborhood's past. COVID-19 procedures are available here. Red Rock Casino Resort Spa Red Rock's pool complex is serene and lush, lined with palms for ample shade. Hotels.com Book Red Rock Casino Resort SpaCategory: LuxuryNeighborhood: SummerlinTypical starting/peak price: $139/$600Best for: Couples, familiesOn-site amenities: lush pool, upscale restaurants, movie theater, bowling alley, spaPros: This hotel is a convenient jumping-off point for outdoor adventures in Red Rock Canyon, and is within walking distance from shops and restaurants in Downtown Summerlin. Plus, the pool is beautiful.Cons: Red Rock Resort is far from the Strip and Downtown Las Vegas. It can also be expensive.Red Rock Resort and Hotel is a true desert escape, located on the western edge of the city near the soaring cliffs of Red Rock Canyon. One could easily spend a day hiking, rock climbing, or mountain biking in the desert and then return to Red Rock for a spa treatment, a margarita by the palm-shaded pool, or fresh pasta from Osteria Fiorella.Conversely, this is also the kind of upscale hotel that makes it easy to spend an entire weekend without leaving the property. It has everything: great room service, cloud-like beds, views of the desert and the Strip, a nice selection of restaurants, and even a bowling alley and movie theater.The pool, in particular, is one of the best in the city and if you're looking for the opposite of a wild Strip pool party, this tranquil oasis is it. Should you feel inclined to wander, shops, restaurants, and even a weekly farmers market are steps away in Downtown Summerlin. COVID-19 procedures are available here. JW Marriott Las Vegas Resort & Spa The JW Marriott Las Vegas Resort & Spa offers a respite from the desert landscape with abundant greenery. Marriott Book JW Marriott Las Vegas Resort & SpaCategory: LuxuryNeighborhood: SummerlinTypical starting/peak price: $163/$311Best for: Couples, business travelers, golfersOn-site amenities: Pool, spa, fitness center, golf course, restaurants, business services, meeting spacePros: The Mediterranean-inspired landscaping with trees and waterfalls is beautiful and there is a shuttle to a nearby award-winning golf course.Cons: The on-site Rampart Casino feels notably shabby compared to the high-end feel of the resort.Every time I set foot in the JW Marriott Las Vegas Resort & Spa, it's an immediate escape from the harsh desert landscape. The greenery and water features are abundant, making the resort feel like a haven.I also love the restaurants, especially Jade Asian Kitchen which is great for sushi and cocktails, and Hawthorn Grill, which has an amazing waterside patio shrouded with trees.The rooms are simple and elegant with jetted tubs and large workspace areas, making this a good hotel for business travelers. The concierge can help arrange golf reservations and the surrounding Summerlin area is similarly upscale. The nearby Italian-inspired Tivoli Village offers open-air shopping and dining. Red Rock Canyon is also close. COVID-19 procedures are available here. FAQ: Las Vegas hotels What is the best time of year to visit Las Vegas?The shoulder seasons — fall and spring — bring perfect desert weather and are the best time to visit Las Vegas. Expect pleasant, sunny days with highs in the 80s and lows in the 60s. Of these two seasons, fall tends to be quieter, with spring bringing spring break crowds.Despite the very hot weather, summer is very busy and you may see higher room rates during this time. Winter is the least busy season in Las Vegas (except for New Year's Eve) and it can also be surprisingly chilly, so you might not get that pool day.Which off-Strip neighborhood should I choose?Stay Downtown or near the Strip if you want to still experience the casinos, restaurants, bars, and delightful mayhem that makes the city so special. Or choose Downtown if you want to experience historic Las Vegas, Fremont Street, and go where the locals go. Choose near-Strip if you want access to Las Vegas Boulevard without the noise and traffic.If you are traveling for business or with young children (or are sensitive to loud noise) consider the suburbs of Henderson or Summerlin. Henderson has outdoor shopping malls, big box stores, quiet neighborhoods, and nice city parks where families picnic. Summerlin will speak to you if you're the outdoorsy type, as Red Rock Canyon is just a stone's throw away. What is there to do off-Strip in Las Vegas?There's a whole world outside of the Las Vegas Strip (not to mention a couple of million people who call Clark County home). You can browse the shops at the Downtown Container Park, catch an intimate live concert at an East Fremont Street bar, or check out First Friday in the Arts District.Dine at a neighborhood restaurant that rivals the ones on the Strip and hit the trails at Red Rock Canyon, Mt. Charleston, Lake Mead, or Valley of Fire. From art galleries, museums, boutiques and craft cocktail bars to hiking, rock climbing, and kayaking, there's much to explore in Southern Nevada.Why should I stay off-Strip?If you've visited Las Vegas a million times and only ever experience one street, you owe it yourself to see another part of the city at least once. You might also find lower rates, though not at every property. Don't expect to pay less for a room at Red Rock Casino than you would for a room at a budget Strip property like Excalibur.You may also find fewer crowds, less vehicle traffic, less noise, and less price-gouging when you shop, eat, and drink. Whether it's your first or tenth time to Vegas, if any of that appeals to you, consider going off the beaten path.Staying off Strip also balances the experience of Las Vegas Boulevard.  Hike through the stark, wild beauty of the desert complemented by a fancy dinner at a sleek steakhouse. An intimate cocktail bar in the Arts District can serve as a prelude to a crowded evening at a nightclub. Is it worth staying off-Strip in Las Vegas?You can still find all of the classic Las Vegas amenities you love such as pools and poolside bars, spas, casinos, buffets, and sportsbooks, plus other surprising extras, like movie theaters, bowling alleys, kid-focused amenities, and community events.And if you miss the Strip, it's not hard to get there. You can be as close as a half-mile away if you stay near Strip, or as far as 12-15 miles away if you stay in Henderson or Summerlin.Do off-Strip hotels have resort fees?Sadly, you would be hard-pressed to find a hotel in Las Vegas without a resort fee. Every hotel on this list with the exception of Virgin Hotels Las Vegas charges one. Some properties may waive these fees for special promotions (M Resorts is currently offering a no resort fee stay to locals on staycation), but for the most part, you can expect to shell out an extra $20 to $40 on average per night. What are current Las Vegas COVID-19 travel restrictions and protocols? Las Vegas is open, without restrictions involving capacity limits and large gatherings.However, the State of Nevada has mandated that everyone, including fully vaccinated individuals, wear a mask in public indoor settings, including resorts and casinos, restaurants, bars, showrooms, and meeting spaces. Masks are also required on public transportation.Large indoor events also have masks, testing, and vaccination requirements so check before arriving both with local Las Vegas mandates, the Nevada Health Response updates, as well as your individual hotel and destination. How we selected the best off-Strip hotels in Las Vegas As a Las Vegas local travel writer, I'm personally familiar with every hotel on this list and stand behind all of these hotels. I have either stayed at the hotel or have spent significant time exploring the property and the surrounding neighborhood. Hotels are located in desirable Las Vegas neighborhoods, including near-Strip, Downtown, Summerlin, and Henderson. Each hotel holds a TripAdvisor rating of between 3 to 4.5 (the average rating on this list is 4 out of 5) with a high volume of recent honest, unbiased reviews.Rates range between $30 and $163 to start and do not include resort fees. Las Vegas room rates fluctuate based on the season and major events usually drive up prices. Las Vegas room rates tend to fluctuate wildly. On one night a room might be below a hundred dollars, on another night it might be approaching a thousand. This is why value is so key.Standard hotel rooms at each property are known to be comfortable with classic or unique Vegas views.    The hotel features must-have Vegas amenities, such as a pool, great on-site restaurants and bars, a casino, spa, fitness center, plus entertainment offerings, and events.You don't want to stay in a quiet, spa-like environment if you've come to Vegas to party, and you don't want to stay in the middle of a party if you're traveling with small kids. We've noted who we think would enjoy each hotel, such as solo travelers, groups of friends, couples, families, business travelers, and locals on staycations.The hotel keeps guests safe by instituting COVID-19 policies in accordance with the most recent CDC guidelines. More of the best places to stay in Las Vegas Prayitno/Flickr The best Las Vegas luxury hotels on or near the StripThe best cheap hotels in Las VegasThe most incredible hotel suites in Las Vegas for every budgetThe best Las Vegas Airbnbs Read the original article on Business Insider.....»»

Category: topSource: businessinsiderSep 21st, 2021

Stocks To Profit On The Lingering Death Of Cable

When it comes to stocks, it pays to play the long game, because the headlines might give you an incorrect idea about the future of a particular industry. Take the entertainment industry, for example. In recent weeks we’ve heard decidedly mixed messages – on one hand, the squabble over Chinese telecom firms listing on the […] When it comes to stocks, it pays to play the long game, because the headlines might give you an incorrect idea about the future of a particular industry. Take the entertainment industry, for example. In recent weeks we’ve heard decidedly mixed messages – on one hand, the squabble over Chinese telecom firms listing on the NYSE seems to have spooked investors; on the other, there have certainly been some entertainment stocks that benefited from the pandemic. 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 Series in PDF Get the entire 10-part series on Charlie Munger 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); Q2 2021 hedge fund letters, conferences and more Take a broader view, however, and you’ll see that there are some seismic shifts that will eventually make these short term blips – and yes, even the pandemic – meaningless. And one is probably visible in your living room right now. Cable TV is slowly dying. There are good reasons for that, and in this article we’ll explain them. Then, we’ll give you three stocks that are going to grow as cable TV continues its slow but inevitable decline. The Death Of Cable First, let's assess why cable TV is dying and what that means for the economy as a whole. The first fact to note here is that there are some very good reasons for the coming cable exit. It might surprise you to learn, for instance, that the price of basic cable has increased 250% since 1996, and cable companies are among the most hated in the world, thanks largely to their under-funded customer service departments. In this context, it’s no surprise that as soon as an alternative came along – streaming services like Netflix and Hulu, for instance – it didn’t take much to get people to leave their cable company. The numbers here are pretty extreme, in fact: 32 million households are now "cord cutters." That's 27% of homes, compared to just 4.5% in 2010. 45% of Americans stream television shows at least once a month. 24% of TV viewers ages 18 to 34 (the prime advertising demographic) don't subscribe to any traditional television services. In 2020 alone, more than 6 million people decided to cut the cord. These figures are even more striking when you consider the economics. The cable TV industry, in its prime, was a corporate behemoth, and was worth more than $100 billion a year. This means that, as cable companies die away, there is an awful lot of money suddenly up for grabs. It will be taken by those companies who know how to position themselves in the emerging market for streaming TV services. Our Picks At first glance, it might seem that the companies that look the most like cable companies – Netflix and Hulu, for instance – will be the winners from the death of cable TV. However, things may not be that simple. The market for streaming services is dynamic, highly competitive, and highly risky. Customers now expect to be able to change their streaming provider quickly and easily, and they may do so several times a year. For investors, this means that investing in streaming platforms themselves can be a risky business. Even a company the size of Netflix can see its share price fluctuate widely in response to viewer numbers for a particular show. It’s better to take a broader view, and invest in those companies that are providing the infrastructure for the streaming revolution, and who will continue to do so no matter which platforms people are using. With that in mind, here are our picks: Verizon It might seem strange to pick Verizon Communications Inc. (NYSE:VZ) in this list, given that the company is representative of the “old guard” of telecom companies. The truth, however, is that many Americans now stream TV through Verizon broadband connections, and many more will start doing so in the next few years. The reason why Verizon is well-positioned to take advantage of the death of cable is simple – they have invested in 5G across the USA. 5G is all but necessary to enjoy the new breed of streaming services which are coming on to the market today. Verizon was one of the first telecom companies to see this, and are likely to see their customer numbers increase because of this. Google Google - Alphabet Inc (NASDAQ:GOOGL) - stands to gain in a number of ways from the death of cable TV. Many of the streaming services that are replacing cable rely on infrastructure provided by Google, for instance, and in many cases Google accounts are used to access streaming content. This means that Google, already the world’s biggest advertiser, is poised to become the biggest broker of video ads across these new services. The company also has a few surprises up its sleeve, though. One is the fact that it is investing in the satellite internet market. At the moment, poor internet access is what is holding back many customers in rural areas from cutting the cord – if Google’s plans come off, that will no longer be the case. CoreSite A slightly more unusual idea is to invest in the companies that provide the infrastructure needed for streaming services. CoreSite Realty Corp (NYSE:COR) is a company that leases real estate to some of the biggest companies in the technology industry, mainly so that they can build data centers. As the streaming revolution gathers pace, more and more of this kind of space is going to be required, and stocks in companies like CoreSite are likely to rise in parallel. The Bottom Line It’s impossible, of course, to predict the future of the cable industry with a high degree of accuracy. The industry is still in recovery mode from the pandemic, after all, and many people have better things to worry about than whether their cable subscription is the best choice. Year by year, however, the cable tv industry is dying, and that means that canny investors can make some major gains. Please note we are not a professional investment advisory service and have no idea if these suggestions will work to your benefit or not. This information is informational only, with no profit implied or guaranteed. Please consult a financial advisor before proceeding and don’t invest money you can’t afford to lose. Updated on Sep 20, 2021, 12:26 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: valuewalkSep 21st, 2021

S&P and NASDAQ Begin December with Record Closing Highs

S&P and NASDAQ Begin December with Record Closing Highs SPECIAL ALERT: The December episode of the Zacks Ultimate Strategy Session will be available for viewing no later than Wednesday, December 9. Kevin Matras, Sheraz Mian, Jeremy Mullin, Tracey Ryniec and Madeleine Johnson will cover the investment landscape from several angles in this popular event. Don’t miss your chance to hear: ▪ Tracey and Madeleine Agree to Disagree on whether Black Friday, when consumers rush to stores to get deals the day after Thanksgiving, is over in 2020 as online shopping takes precedence ▪ Kevin answers your questions in Zacks Mailbag ▪ Sheraz and Jeremy choose one portfolio to give feedback for improvement ▪ And much more Remember, we need your input. Please submit your questions for Zacks Mailbag and Portfolio Makeover by Thursday morning, December 3. Email now to mailbag@zacks.com. Then log on to Zacks.com and bookmark this page. December has big shoes to fill after last month’s double-digit gains, but it got a good start on Tuesday with a couple major indices jumping by more than 1% and reaching new highs. The NASDAQ led the way with a rise of 1.28% (or about 156 points) to 12,355.11, while the S&P advanced 1.13% to 3662.45. Both of these indices closed at record highs on Tuesday after taking a break with yesterday’s slight pullback. The Dow reached a new closing high a week ago today, which you probably remember was the index’s first time ending above 30,000. It’s also the last time it closed over that mark. However, it made a new intraday high in the session, which means it was momentarily above 30,100. The Dow closed with a rise of 0.63% (or about 185 points) to 29,823.92. The indices just completed an exceptional month with double-digit surges for all. The Dow and NASDAQ each jumped approximately 11.8% in November, while the S&P was up 10.8%. It was the best monthly performance for the Dow this year, and the second best for the S&P and NASDAQ (after the rebound month of April). The market continues to rally on the back of some encouraging vaccine news from the likes of Pfizer (PFE), Moderna (MRNA) and AstraZeneca (AZN). It’s really amazing how far we’ve come in a month. When November began, we were coming off the market’s second straight monthly loss in October amid rising coronavirus cases. But as December begins, there’s a real feeling in the market that the pandemic is near an end even if cases remain too high for comfort. However, there’s other stuff happening out there besides vaccine news, whether or not investors pay attention. For example, the ISM Manufacturing Index came in at 57.5 for November, which was actually below expectations and the previous month. But it remains well above 50 (expansion) and just marked the seventh straight month of growth. There was also talk of a more than $900 billion, bipartisan stimulus plan, before being rejected by the Senate Majority Leader. The biggest news outside of vaccines this week will probably be Friday’s Government Employment Situation report. The economy added 638K jobs in the previous reading, which easily beat expectations. Today's Portfolio Highlights: Stocks Under $10: With today’s addition of Rayonier Advanced Materials (RYAM), the portfolio is now filled up with a full roster of 15 names. The new buy is a global supplier of cellulose specialties products. In other words, it’s a chemicals name with products that are used for cell phones, computer screens, eyeglasses and medicines. The company beat the Zacks Consensus Estimate in each of the last three quarters with a positive surprise of 421% in the most recent report. Furthermore, rising earnings estimates have made RYAM a Zacks Rank #2 (Buy). Brian believes that topline growth should return “in a big way” next year and appreciates that the margins are “steadily improving”. Read the full write-up for more on this new addition, along with an outline on what to expect from this service heading into 2021. In other news, this portfolio had a top performer today with Diebold Nixdorf (DBD, +10%). Surprise Trader: It’s not time for a New Year’s resolution just yet, but this portfolio got a head start on Tuesday by “freeing up some space and dropping some weight”. Dave sold half of Ternium (TX) and half of Vericel (VCEL) today for gains of 47.8% and 34.4%, respectively, in just under a month. The editor also sold all of Authohome (ATHM) for a loss after a disappointing reaction to earnings. Now that the portfolio has freed some space and removed some risk, get ready for possibly two more additions later this week. Read the full write-up for more.  Insider Trader: Not only did Arlo Technologies (ARLO) easily become the top performer on Tuesday by soaring more than 31%, but this smart home technology company has also soared to the #1 spot in the portfolio. That’s quite an ascent for a company that was added less than two weeks ago. Apparently, the surge was due to a set of ARLO’s cameras being sold on Apple’s website under the description “Only at Apple”. Tracey picked up ARLO back on November 20 after a strong third-quarter and a “confidence buy” from the company’s CEO. Zacks Short Sell List: This week's adjustment included only two swaps. The portfolio short-covered Elanco Animal Health (ELAN, +7.5%) and Ulta Beauty (ULTA, +1.9%), and then filled those positions by adding Aramark (ARMK) and ConocoPhillips (COP). Learn more about this emotion-free portfolio that takes advantage of falling and volatile markets by reading the Short Sell List Trader Guide. All the Best, Jim Giaquinto Recommendations from Zacks' Private Portfolios: Believe it or not, this article is not available on the Zacks.com website. The commentary is a partial overview of the daily activity from Zacks' private recommendation services. If you would like to follow our Buy and Sell signals in real time, we've made a special arrangement for readers of this website. Starting today you can see all the recommendations from all of Zacks' portfolios absolutely free for 7 days. Our services cover everything from value stocks and momentum trades to insider buying and positive earnings surprises (which we've predicted with an astonishing 80%+ accuracy). Click here to "test drive" Zacks Ultimate for FREE >>  Zacks Investment Research.....»»

Category: topSource: zacksSep 21st, 2021

Slow But Positive End to Strong Week, Mixed Month

Slow But Positive End to Strong Week, Mixed Month Trading was as slow as expected on this Friday before the Memorial Day weekend, but stocks still finished higher for the session and for the whole week. The month of May was a bit more mixed, however, as tech names and other growth stocks came under pressure amid concerns of rising inflation. The major indices dipped sharply late in the session as investors tend to get a little nervous ahead of long weekends, but the Dow still ended higher by 0.19% (or nearly 65 points) to 34,529.45. The S&P advanced 0.08% to 4204.11. These indices increased 0.9% and 1.2% this week, respectively, ending back-to-back losing weeks. The NASDAQ was up 0.09% (or more than 12 points) to 13,748.74 for the best weekly improvement of 2%. Despite low volume out there, we received a decent amount of economic data on Friday. The most noteworthy was probably the core personal consumption expenditures (CPE) index, which jumped 3.1% in April. This inflation indicator was the highest its been in nearly three decades and above expectations. However, skittish investors were fearing much worse, so it didn’t have much of an impact.    We also got some other mostly in-line data. Personal income dropped 13.1% in April, which was actually better than expected and compares with a stimulus-enhanced surge in March. Similarly, personal spending gained 0.5% as expected compared to a nearly 5% increase in the previous month. If there are no more surprises, May 2021 could go down as the month when we finally got the pandemic under control. Investors are certainly optimistic with the vaccine rollout and re-opening economy. In fact, they’ve moved on to worry about how the Fed will react to rising inflation and a hot market. These concerns were reflected in the month’s totals. The Dow gained 1.9% in May as recovery names got a lot more attention in the improving environment, while the S&P mustered a 0.5% advance. But despite a strong weekly performance to end the month, the NASDAQ was under pressure most of the time and finished May lower by 1.6%. Today's Portfolio Highlights: Marijuana Innovators: The best performer of the day among all ZU names was HEXO (HEXO), a consumer-packaged goods cannabis company that is “making moves”. It made two significant announcements overnight, including an offering of $360 million in convertible preferred notes and the purchase of Canada’s largest privately-held cannabis producer Redecan. “I absolutely love this combination of deals,” said editor Dave Borun. “It’s a perfect example of a clever and nimble management team that’s adapting to the current environment with sensible but aggressive moves.” HEXO climbed just under 10% today and is now up more than 81% since the editor added it in December 2020. By the way, this portfolio also had the second best performer today as Canopy Growth (CGC) advanced 5.5%. Make sure to read Dave’s complete commentary on HEXO’s moves. Headline Trader: “It's the last trading day of May, and the "sell in May and go away" idiom didn't come to fruition, with the S&P 500 trading less than 1% off its all-time highs. The S&P 500 has held a 75% + 52-week rally for months now, but this will not continue forever. Still, this doesn't mean that a correction is on the horizon. “Investors keep saying that the market is sitting at 'as good as it gets' levels, but it's a fool's errand to try to call a peak. EPS estimates continue to drive higher, and interest rates are looking like a nonissue for now. “Q1 earnings were unbelievable, far exceeding expectations, which didn't catapult stocks higher like some may have anticipated but instead justified how far the market has come since the pandemic lows. I expect to see continued consolidation into the next set of earnings (if the Fed doesn't change its rhetoric), and savvy stock picking is going to be the key to success in this choppy market moving forward. I am looking to Q2 earnings and guidance for another broader market catalyst.” – Dan Laboe Counterstrike: “As expected, we saw low volumes and a tight trading range. People just leave early on days like today, so there was a severe lack of action. Even so, markets finished strong for the week. “The bulls broke some bearish setups in the S&P, so expect bullish action going forward. The lack of an infrastructure plan is a risk, but this should get done eventually. The market really isn't concerned. “Have a good weekend everyone. It has been a wild five months, but things are slowing down. We have to slow down ourselves with the market or we will overtrade. Try to enjoy this weekend and let's see what the pace is next week.” – Jeremy Mullin Have a Great Memorial Day Weekend! Jim Giaquinto Recommendations from Zacks' Private Portfolios: Believe it or not, this article is not available on the Zacks.com website. The commentary is a partial overview of the daily activity from Zacks' private recommendation services. If you would like to follow our Buy and Sell signals in real time, we've made a special arrangement for readers of this website. Starting today you can see all the recommendations from all of Zacks' portfolios absolutely free for 7 days. Our services cover everything from value stocks and momentum trades to insider buying and positive earnings surprises (which we've predicted with an astonishing 80%+ accuracy). Click here to "test drive" Zacks Ultimate for FREE >>  Zacks Investment Research.....»»

Category: topSource: zacksSep 21st, 2021

Operation "Go It Alone": Disenchanted Europeans May Build Their Own Army

Operation 'Go It Alone': Disenchanted Europeans May Build Their Own Army Authored by Doug Bandow via ResponsibleStatecraft.org, The chaotic Afghanistan withdrawal has renewed talk about striking out and leaning less on the U.S. But is it possible? German Defense Minister Ursula von der Leyen , Eric Trappier and Emmanuel Macron attend the 53rd International Paris Air Show at Le Bourget Airport and the unveiling of the French-German-Spanish New Generation Fighter (NGF) model, June 17, 2019. REUTERS/Benoit Tessier/PoolPhoto by Jacques Witt/Pool/ABACAPRESS.COM Photo by Jacques Witt/pool/ABACAPRESS.COM Europeans are a moody lot. Whenever they feel neglected by America - meaning most anytime Washington is busy elsewhere - there is much wailing and gnashing of teeth. And endless demands for “reassurance,” as in additional promises to spend and do even more to defend the continent. European unease again is on the rise. President Joe Biden’s chaotic Afghanistan withdrawal allegedly without even the pretense of consultation hit Europe particularly hard. There were charges that Biden didn’t coordinate with European governments, which had sizable groups of military personnel and civilians in Afghanistan (The NATO chief denies the alliance wasn’t consulted).  It would seem that the continental states have more reason than usual to be upset. While brickbats tossed Washington’s way aren’t likely to have much effect, Europe’s impotence has spurred renewed interest in expanding the continent’s military capabilities, which could become the most significant consequence of Europe’s involvement in Washington’s 20-year Afghan misadventure. When European defense ministers gathered in late August, their meeting was filled with complaints of a “fiasco” and “debacle.” They were frustrated that they had no ability to act independently but had to rely on America. Of course, none of this should have been a surprise. French President Emmanuel Macron previously called NATO “brain dead,” promoted “strategic autonomy,” and advocated a “true European army,” with no result. Grandiose ideas of an independent European military force have long circulated to no end. More than two decades ago plans were actually made for a 60,000 multinational force, which never appeared. Nor did later proposals for 1500-member “battle groups.” Now Josep Borrell, the European Union’s de facto foreign minister, wants to establish an “initial entry force” of about 5,000 soldiers.  He complained: “We Europeans found ourselves — not only for the evacuations out of the Kabul airport but also more broadly — depending on American decisions.” The Afghanistan experience was particularly painful, he observed, showing “that the deficiencies in our strategic autonomy come with a price.” He advocated “new tools like this entry force,” so “The only way forward is to combine our forces and strengthen our capacity and our will to act.”  With an equivalent combined economy and larger population than America, Europe has long had the resources necessary to create such a unit. However, the will was always lacking, even for what would be small ball for America. Has that finally changed? Significant barriers to action remain. Historically, Washington opposed such an independent European force. U.S. officials feared that separate units would cause penurious Europeans to reduce resources available to NATO. Moreover, past administrations worried that the continent would move toward a more independent foreign and military policy, which is anathema to Washington. The U.S. wants Europe to do more, but only under the former’s control. Nor has the continent shown any interest in doing more. Despite modest growth in military outlays by a number of European states since 2014, the continent continues to badly lag America’s effort. In a pitifully honest self-review, German Defense Minister Annegret Kramp-Karrenbauer admitted that “Without America’s nuclear and conventional capabilities, Germany and Europe cannot protect themselves.” She cited estimates that “the United States currently provides 75 percent of all NATO capabilities.” Only France and the United Kingdom possess capable armed forces of serious size. Germany, Italy, and Spain have sizeable economies but minimal militaries, in theoretical and practical strength. Indeed, the poor readiness of the Bundeswehr, the heir to the once mighty Wehrmacht, would be comical if not so serious. Even countries which claim to fear Russian revanchism, most notably the three Baltic states and Poland, spend little more than 2 percent of GDP, a miserly investment on behalf of their freedom. In the field, noted Rem Korteweg of the Dutch Clingendael Institute, Bosnia and Libya demonstrated “the inability of Europeans to do anything serious without the Americans.” Although most European leaders formally assent to NATO insistence that they spend more, there is no public support for doing so. Most Europeans do not fear Russia, the only plausible security threat. Those who do expect Washington to shield them. That is why the eastern-most members of NATO want the presence of an American military tripwire, to ensure U.S. deaths (not theirs) and trigger automatic American involvement in war on their behalf if attacked by Moscow. Fear of U.S. disengagement might cause more European countries to spend more on their militaries, but so far no one expects the American military to go home. As long as Washington’s security guarantee appears secure, few European nations are likely to make an added investment in a European “initial entry force.” Indeed, Europeans do not support going to war for their neighbors even while expecting Americans to go to war for them. Last year the Pew Research Center surveyed 14 NATO members. In Poland, which constantly demands more U.S. attention, only 40 percent of respondents agreed that “our country should use military force” in response to a Russian attack on a NATO ally. Just a third in Germany, which was loaded with allied troops during the Cold War. And a quarter in Greece and Italy. Although many governments are more supportive of NATO and military outlays than their publics, at a time of economic difficulty and fiscal stringency they are more likely to curb than expand spending on the armed forces. President Biden should strongly support European efforts to create more effective militaries, however they are organized. Indeed, he should go further and encourage the continent to move toward military independence. Although advocates of staying in Afghanistan forever pointed to U.S. deployments in Europe and Asia as precedent, foreign policy scholar Mark Sheetz noted that “the purpose of America’s ‘temporary’ intervention in Western Europe was to eliminate the need for ‘permanent’ intervention.” Similarly, Dwight Eisenhower, NATO supreme commander before becoming president, warned against acting like “a modern Rome guarding the far frontiers with our legions.” Instead, he advocated helping “these people [to] regain their confidence and get on their own military feet.” Of course, establishing a 5,000-member rapid deployment force would be only a small start to Europeans getting “on their own military feet.” The Center for American Progress recently reported: “European militaries have now experienced decades of decline. Today, much of Europe’s military hardware is in a shocking state of disrepair. … European forces aren’t ready to fight with the equipment they have, and the equipment they have isn’t good enough.” However, the crushing embarrassment of Afghanistan might help change that. Paolo Gentiloni, EU commissioner and former Italian prime minister, allowed that “It’s a terrible paradox, but this debacle could be the start of Europe’s moment.” Although only if Europe chooses to spend and do more. History is not promising, but reality might finally intrude. The Europeans lack credibility in criticizing Washington’s admittedly wretched performance in Afghanistan. Their insults will merely antagonize Americans tired of European cheap-riding. And defense subsidies for Europe will inevitably be targeted as Washington’s debt explodes, heading toward the post-World War II record and ultimately well beyond. The Afghanistan imbroglio provided Europe with a long overdue wake up call. The Biden administration should reinforce that message by warning that the U.S. will not forever provide defense welfare for a continent both prosperous and populous. If European governments don’t like being treated dismissively by Washington, they need the capability and will to act independently. Tyler Durden Tue, 09/21/2021 - 05:00.....»»

Category: blogSource: zerohedgeSep 21st, 2021

The Instant Pot deals we expect to see on Prime Day 2021

Amazon often offers up to 60% off Instant Pots during Prime Day. Here's everything you need to know about Amazon.....»»

Category: worldSource: nytMay 25th, 2021

The best phone deals we"re expecting for Amazon Prime Day 2021 on Samsung Galaxy, Google Pixel, and more

Amazon Prime Day will likely be full of phone deals. Here are the best discounts we expect from Samsung, Google, and more. If you buy through our links, we may earn money from affiliate partners. Learn mor.....»»

Category: dealsSource: nytMay 25th, 2021