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Audio IC shortage easing

Notebook-use audio IC shortages are easing, with the supply shortfall expected to narrow next year, according to industry sources......»»

Category: topSource: digitimesNov 25th, 2021

Google has told employees the company will not hike pay across the board to match to inflation: CNBC

The development at Google comes amid a labor crisis, with the average American worker set to receive their largest one-year pay increment since 2008. Google's vice president of compensation said there are no plans for an across-the-board adjustment. The executive acknowledged inflation concerns but said increments will be performance-based. The issue was addressed at a special meeting on Tuesday, CNBC reported. Tech giant Google has told employees it does not intend to adjust salaries across-the-board to match inflation, according to audio of an internal Google meeting obtained by CNBC.The issue was raised at a special meeting Tuesday when the CEO of Google's parent company Alphabet, Sundar Pichai, read a question from staff, according to CNBC. Frank Wagner, Google's vice president of compensation, responded to the question.Wagner acknowledged concerns about high inflation but said pay increments would be performance-based, CNBC reported. "We don't have any plans to do any type of across-the-board type adjustment," he said.Even though Google is not committing to pay hikes matching inflation, the tech giant has been rolling out a series of benefits in the past year after a company survey indicated a decline in employee wellbeing amid the pandemic, Reuters reported, including a $500 wellbeing cash bonus.Just yesterday, Google said it would give global staff an additional $1,600 cash bonus after delaying its planned return-to-office plan next year.Google did not immediately respond to Insider's request for comment but told CNBC in a statement that employees receive bonuses and equity in their compensation packages as well.The development at Google comes as the average American worker looks to receive their largest one-year pay increment since 2008, according to The Conference Board's Salary Increase Budget Survey. That's as many businesses are scrambling to hire amid a labor shortage.Read the original article on Business Insider.....»»

Category: topSource: businessinsiderDec 9th, 2021

Biden touts fastest-ever shift from people on "government support to earning a weekly paycheck" while preparing for another gnarly inflation report

"Americans on average have about $100 more in their pockets each month than they did last year," Biden said in Thursday remarks. President Joe Biden speaks to members of the press at the South Lawn of the White House on November 19, 2021.Alex Wong/Getty Images Prior to a Friday inflation report that's expected to be nasty, Biden touted the jobs recovery. He said he's overseen the fastest ever shift from people on "government support to earning a weekly paycheck." At the same time, he tried to argue that the forthcoming inflation read will look worse than it is. President Joe Biden is feeling good about the economic recovery, even in the face of inflation.He's overseen a strong jobs comeback despite the widespread reports of a labor shortage, and inflation in October that was higher than it's been in 30 years. The inflation report for November due out on Friday could be a 40-year high.On Thursday, he made the case that the former should overshadow the latter, which also won't be as bad as it looks.  Americans' wallets are being squeezed across the country, though, Biden made clear in a statement that it's not all bad."It is the fastest movement of people from relying on government support to earning a weekly paycheck in history," Biden said, referring to Thursday's report showing jobless claims lower than they'd been since 1969. He added that "Americans on average have about $100 more in their pockets each month than they did last year, after accounting for inflation."As White House Chief of Staff Ronald Klain highlighted in a tweet, that's a big difference from the 900,000 weekly claims that the country was notching at the start of the year. —Ronald Klain (@WHCOS) December 9, 2021 But one economic spectre still haunts Biden's economic recovery. In October, inflation went up yet again — and beat estimates for just how high economists thought it would be. The Consumer Price Index saw a 0.9% increase in October, while economists thought it would come in closer to 0.6%. As Insider's Ben Winck and Andy Kiersz reported, that means CPI rose 6.2% in the last year, amounting to the fastest annual inflation growth since 1990. And that price growth was alarmingly strong in almost every single category.Americans are feeling the toll. 45% of Americans surveyed by Gallup over the first half of November said that increasing prices had caused them or their households some financial hardship, and that hardship is being disproportionately felt by lower-income Americans.Biden stressed that the report will be based off information from weeks ago, and won't be in line with how much the situation has improved. "In the weeks since the data for tomorrow's inflation report was collected," he said, "energy prices have dropped. The price of gas at the pump has already begun to fall nationally, and real pump prices in 20 states are now lower than the 20-year average. This week, natural gas prices are down more than 25% from their November average."He also noted the start of a decline in used car prices on the wholesale market and argued that should translate into lower prices in the months ahead. The information being released "does not reflect today's reality," he said. In other words, he knows it's going to be bad.The supply-chain crisis isn't helping, either. Biden pointed out in his remarks that the country is undoubtedly struggling with good shortages, which is a concern especially now given the holiday season. But the president said he has taken "strong, aggressive measures to combat these challenges," including actions to combat anti-competitive price gouging and a port action plan.And as Insider's Ben Winck previously reported, inflation — and the supply-chain crisis — could likely cool off soon. Recent US manufacturing indicators found that supply in the country is starting to match Americans' spending as bottlenecks at ports are easing up, suggesting a positive shift for consumers and the US economy.It sounds very much as if Biden is hoping that it won't overshadow the rest of the news about Americans coming off the sidelines and back to work.Read the original article on Business Insider.....»»

Category: topSource: businessinsiderDec 9th, 2021

Wiwynn expects chip shortage to start easing in 2H22

Server ODM Wiwynn expects chip shortages to start easing in the second half of 2022 and is upbeat about the demand for cloud servers and data centers next year......»»

Category: topSource: digitimesDec 8th, 2021

Highlights of the day: Samsung steps up competition against TSMC

Samsung is vying withTSMC for leadership in the foundry sector. The Korean giant is looking to win over major customers of the world's number-one pure-play foundry in advanced manufacturing nodes. Server ODM Wiwynn expects chip shortage to start easing in second-half 2022 with demand for cloud servers and datacenters to remain robust. DRAM demand is expected to recover as early as first-quarter 2022, according to memory module maker Adata......»»

Category: topSource: digitimesDec 8th, 2021

What"s Tougher: Finding Drivers Or Trailers?

What's Tougher: Finding Drivers Or Trailers? By Todd Maiden of FreightWaves, Supply headwinds facing the trucking industry were front and center at an investor conference on Wednesday and Thursday. While executives said driver recruiting and broader supply chain bottlenecks are ever so slightly easing, the procurement of equipment has gotten tougher. “I would predict at this juncture, in our looking out at the trailer OEMs (original equipment manufacturers) and the tractor OEMs, that it could even be more difficult in 2022 on production and delivery than it was in 2021,” said Mark Rourke, CEO and president of Schneider National, at the Stephens Annual Investment Conference held in Nashville, Tennessee. Finding trailers won't get any easier in 2022 (Photo: Jim Allen/FreightWaves) Lack of trailers becoming the new driver shortage? Equipment purchasing for truckload carriers will be below normal replacement in 2021 given semiconductor and parts shortages as well as COVID-related labor issues that are plaguing the OEMs. Derek Leathers, Werner Enterprises chairman, president and CEO, said current tractor and trailer orderbooks extend well beyond the OEMs’ manufacturing capacity for all of next year, meaning the industry fleet, which has gotten older and smaller during the pandemic, won’t be increasing anytime soon. “I think you see continued contraction or at best case stabilization in ’22 but with an older fleet,” Leathers said. Werner’s average truck age was 1.8 years heading into the pandemic with trailers 4 years old on average. While a recent acquisition skewed average ages slightly higher, an inability to get all of the replacement equipment wanted has really pushed those averages up, to 2.1 years and 4.4 years, respectively. Leathers said Werner wants to refresh equipment but “there’s no line of sight to when that moment is, it’s certainly not in ’22.” “The best-case scenario is you may see some return to normalcy by third quarter ’22 and that’s way too late to have any impact on the year in terms of additional capacity. So I think we have a structural cap that’s different than anything we’ve seen historically.” Eric Fuller, president and CEO at U.S. Xpress, also pointed to the third quarter as the earliest date for relief. He said the OEMs are guiding to “a few more months” for tractors that should have already been delivered. “A number of the OEMS are going back to some of their larger orders and reducing the amount of tractors they’re actually going to be able to produce in 2022,” Fuller said. “I think the trailer situation is worse. In some cases, to get a significant order we’re being told it could be multiple years … 24 months, 36 months.” Trailer manufacturer Wabash said it would build only 50,000 dry van trailers next year compared to more than 57,000 in 2019. The company’s backlog, which extends into 2023, has increased to more than $2.3 billion from $1.9 billion at the close of the third quarter. It’s in the process of converting refrigerated manufacturing capacity to dry van production lines but that won’t be completed until early 2023. Management from J.B. Hunt said delays in equipment deliveries will result in holding onto trade-ins longer than originally anticipated, which will drive its cost of service higher. The increased maintenance expenses associated with running older equipment will be an incremental component of its customer’s rate structure in 2022. Less-than-truckload carrier Yellow noted a lack of trailers throughout the supply chain as trailing equipment sits longer at shipper facilities that are dealing with issues recruiting and retaining workers. Yellow CEO Darren Hawkins said he’s most concerned about being able to take delivery of the trailers Yellow has ordered for 2022. He said the company can postpone planned trailer retirements if needed but noted that overall trailer utilization has become a material burden on operations. “We do not have access to our own equipment as readily as what we’ve seen in the past,” Hawkins said. “And then when you do get that equipment, it’s in the wrong part of the country and we’re having to reposition it.” Yellow would normally use the rails to reposition trailers but given current network congestion, they have more freight than they can handle. “I have not seen it ease. I actually feel like demand is expanding for our services,” Hawkins added. He said Yellow is focused on making timely freight pickups as that is its customers’ biggest concern. “They’re not as focused on transit times as they are getting their freight picked up and getting it into a system and being able to tell their customers that it’s actually in transit.” Driver hiring issues have eased … kind of Most trucking executives said that multiple rounds of pay increases and sign-on bonuses, as well as the end of enhanced unemployment benefits in September, have helped driver recruiting, but only on the margins. Fuller noted that August was the toughest month for driver hiring, with only slight improvement since. “If August was a 10, it’s a 9.5 [now].” J.B. Hunt said difficulties sourcing drivers have plateaued but at a high level. “For drivers, we’re at a high watermark and we’re holding,” Shelley Simpson, chief commercial officer and EVP of people, commented. She said driver recruitment hasn’t really kept the company from bringing on new business because it can utilize its digital 360 freight platform for capacity and backfill with permanent resources later. But she said the labor headwinds extend beyond drivers. Difficulty finding workers throughout all levels, from maintenance techs to office employees, has been a burden for the company. “In the past, we were able to tweak pay or turn pay and that typically would fix 95% of the problem. Today, that’s not the case when it comes to labor,” Simpson continued. The American Trucking Associations’ estimate of the current driver shortfall is approximately 80,000. But the organization sees that number moving to more than 160,000 by 2030. “It’s the most difficult driver market I’ve ever seen,” Leathers said. “Has it stabilized at very difficult? That seems to be the case. So it’s staying very difficult but it doesn’t seem to be worsening.” Searching for a cure Werner has been bringing on drivers through its academies. It had four additional driver schools operating at the end of the third quarter, 17 in total. The company will have 22 open by the end of the first quarter. Driver sourcing costs and labor expenses incurred as a result of equipment downtime due to parts shortages led Werner to miss third-quarter expectations. When asked about potential solutions to the driver issue, Leathers said he sees the most potential in opening the driver pool to include candidates as young as 18 years old. He said the plan to reduce driver ages would be “one of the largest advancements for safety” the industry has seen in a while. “These are true apprenticeships. This is not, ‘You’re 18 years old and here’s the keys to a truck and good luck.’” He said the current proposal for preparing these individuals would require multiple months of training with experienced drivers as well as curfew restrictions. He believes it would also allow the industry to recruit people “from the front of the class.” “What do you get at age 21? If you wait to 21 because you think that there’s something magical about the number, you get the people that were unsuccessful as an electrician, a plumber, a roofer or welder versus going to the front of the class and getting the best and brightest and putting them in a multi-month apprenticeship.” He said relaxing hours of service rules wouldn’t be fair to the driver. “They should not bear on their backs our inefficiencies,” Leathers said, referring to the increase in the amount of dwell time drivers are experiencing due to congestion throughout the supply chain. Leathers doesn’t think increased vehicle or cargo weights will help either “at a time when our nation’s infrastructure is already crumbling.” He said it will take at least a decade until recently approved infrastructure money results in material improvements to the highways. Rourke said a new rule for entry-level candidates, requiring training from a certified institution listed on an approved provider registry, will further limit driver resources. “For the state licensing, you have to then verify where this schooling took place and the accreditation of that school, which has a minimum number of hours, a minimum curriculum. It isn’t just, ‘I just took the written test, let me go out and take a test and I get a CDL.’ So it radically changes that entry point into the industry.” Tyler Durden Wed, 12/08/2021 - 15:25.....»»

Category: personnelSource: nytDec 8th, 2021

84 great gifts for your girlfriend no matter her interests, from astrology jewelry to an REI co-op membership

We rounded up 84 thoughtful gifts to give your girlfriend, from keepsake jewelry under $100 to helpful tech and fitness accessories. Prices are accurate at the time of publication.When you buy through our links, Insider may earn an affiliate commission. Learn more.Gift your girlfriend a thoughtful, custom keepsake.Framebridge Giving your girlfriend a meaningful gift doesn't have to require hours of research. Below is a list of thoughtful gifts for your girlfriend, from accessories and tech to home decor. Still looking for gifts? Find more gift guides broken down by interest, budget, and occasion here. Giving gifts as a couple can be a lot of fun. You know your partner: What they love, what rituals they enjoy, what small daily annoyances you could possibly solve with a thoughtful gift. You also know how much they'll appreciate the gift when it comes from you.Odds are you want to give them something wonderful — whatever your price range is. All most of us need is a little direction and a few great options to pick from, so we put together a list of our favorite gift ideas for girlfriends of all personalities and interests to help guide you.Check out all 84 gifts for your girlfriend:This list includes a Sponsored Product that has been suggested by Vuori. It also meets our editorial criteria in terms of quality and value.*The best Apple Watch we've triedAppleApple Watch Series 7, available on Amazon and Apple, from $379If you're looking for a great gift and not concerned about staying in an under-$200 budget, we'd recommend the Apple Watch Series 7.Currently, we think it's the best Apple Watch. The Series 7 can charge up to 80% in 45 minutes, and it's the most advanced version with features such as blood oxygen saturation measuring and an electrocardiogram scanner to detect abnormalities in the heart's rhythm. Earrings made with her birthstoneMejuriAmethyst Flat Sphere Studs, available on Mejuri, $180If your girlfriend wears jewelry, birthstone earrings that she can keep forever are a thoughtful, personalized gift she'll wear often.  Delicious sweets from a famous NYC bakeryMilk BarMilk Bar Treats, from $22If your girlfriend has a sweet tooth, send her Milk Bar — the company delivers its iconic and decadent cakes, cookies, and truffles to her doorstep.A pass to get into a bunch of boutique fitness classesClasspassClassPass Gift Card, from $15Boutique fitness classes are expensive, which can make trying new workouts — either for variety or to figure out what we like — less appealing. ClassPass solves both issues. It's relatively affordable, and members can access a neverending catalog of great workouts with small class sizes. If your partner is getting back into fitness after over a year of at-home workouts, we'd highly recommend a gift card here for whenever they're ready to use it.Leggings fit for workouts and lounge sessionsVuoriVuori Daily Legging, from $50Vuori is known for its smooth, soft fabrics and flattering fits — and the Daily Legging is no exception. Combining the leisure and comfort of a jogger with the function and stretch of a legging, your girlfriend can wear these for both workouts and weekend lounging. *Sponsored by VuoriA disposable camera that doesn't take you out of the momentGamesgamer024 The gamer/YouTubeDisposable camera, $42.49Interested in preserving memories without taking yourself out of them? A good disposable camera or a film camera can take the pressure away from perfection so you and your girlfriend can focus on just savoring experiences together.The best electric toothbrushColgateElectric toothbrush, $39.99If your girlfriend is more interested in gifts she needs as well as wants, an electric toothbrush is a good option. We've tested our fair share of electric toothbrushes, and we think Colgate's Hum is the best value. It cleans thoroughly and offers advanced features and modern design for $70 — which is considerably more affordable than options with fancy features you may not use enough. A planned trip for the two of you to take togetherAirbnbAirbnb Gift Card, available at Airbnb, from $25If you want to gift an experience you and your girlfriend can enjoy together, grab a card, a gift card to Airbnb, and come up with a few location ideas to choose from. You can also book a hotel in your city on Booking.com or Expedia for a sweet staycation. *This gift can be saved and used at a later date.A versatile Exercise DressOutdoor VoicesThe Exercise Dress, available on Outdoor Voices, $100Given the popularity of the Exercise Dress, we wouldn't be surprised if this was on your girlfriend's wish list. The Exercise Dress is comfortable, versatile, and cute — which has made it a cult-favorite item. If she's a fan of dresses, outdoor voices, or clothes she can wear all day long, this may be a good option. Her favorite specialty food straight from the sourceGoldbelly/InstagramOrder her favorite specialty foods using Goldbelly, from $28Goldbelly makes it possible to satisfy your girlfriend's most specific and nostalgic cravings no matter where they live in the US — a cheesecake from Junior's, deep dish pizza from Lou Malnati, and more. Browse the iconic gifts section for inspiration. A streaming bundle that checks off all the boxesHulu/Disney+/ESPN+/Business InsiderHulu, Disney+ ESPN+ Bundle, available at Disney+, ESPN+, and Hulu, from $13.99 per monthIf canceled sporting events or trips to Disney have you feeling down, you can gift Disney+, ESPN, and Hulu together to ensure the next few months include plenty of entertainment options. If your partner is not too fond of ads, this bundle can also be purchased with the ad-free version of Hulu.A small skincare tool that removes 99.5% of dirt, oil, and makeup residueAmazonForeo Luna Play Plus 2, available at Foreo, $59In the category of things your girlfriend may love but hasn't asked for yet: Foreo facial brushes. Our team swears by these gentle yet effective cleansing devices. They have hygienic silicone bristles and come in five different models for different skin types. The Luna is small enough to bring on the go, so your partner can maintain their skincare routine while traveling. A thoughtful book she'll loveAmazon"Tiny Beautiful Things: Advice on Love and Life from Dear Sugar" by Cheryl Strayed, available on Amazon, $12.42Pick up one of your all-time favorite books that you think she'd like, or browse some of the books we love to gift. This collection of Dear Sugar advice columns is a heartfelt favorite. Its topics are diverse, its letters to Dear Sugar are intimate and relatable, and Cheryl Strayed's responses are both witty and extraordinarily compassionate.A membership to a huge outdoor co-opREIREI Co-Op Lifetime Membership, $20, available at REIAn REI membership offers a lifetime of benefits for a one-time purchase. That includes 10%-back dividends, special offers, access to in-store REI Garage sales, and special pricing on REI classes and events. If your girlfriend loves the outdoors, this is an option she can enjoy solo and with you. A Dutch oven to elevate their bread gameLodge mfgEnameled Cast Iron Dutch Oven, available at Walmart, $79.90Did your girlfriend get into baking bread and, miraculously, stay committed to it? If so, a really nice Dutch oven can help elevate her experience. You can get something great for under $100, or you can splurge on a beautiful Le Creuset. Other meaningful upgrades include a cooling rack, according to the famous baker Apollonia Poilâne.A subscription that sends her a six-month world tour of teasAtlas Tea ClubAtlas Tea Club 6 Month Subscription, available on Atlas Tea Club, $94This subscription sends your girlfriend single-origin teas from the best tea-growing regions in the world for six months. She'll get two delicious options sent to her home each month.Festive matching underwear from one of the internet's favorite startupsMeUndiesMatching Underwear, available at MeUndies, $42Get yourself and your girlfriend festive matching underwear — which also happen to be some of the most comfortable pairs we've ever found. MeUndies gives you the options to create your own personalized set — two styles listed for women, two styles listed for men, a mix, and whichever length or cut you and your partner prefer. A standing desk for a home office upgradeFullyJarvis Bamboo Standing Desk, available at Fully, from $569If she's working from home, your girlfriend might love a home office upgrade the most. We ranked the Fully Jarvis the best standing desk; it provides the right blend of features and reliable performance. Its customizations for style, height, and accessories make it adaptable to pretty much any need. A framed keepsake of a favorite memoryFramebridgeFramed photo, available at Framebridge, from $45Gift Card, available at Framebridge, from $25Framebridge makes custom framing a bit more affordable. You can print or paint something on your own and have it framed, or have them print and frame it, and you can take advantage of the team of designers for help deciding what frame to get. The best socks she'll ever wearBombasBombas Women's Performance Running Ankle Sock 3-Pack, $49.50Bombas makes the best socks we've ever tried, and they're a gift we find ourselves giving every year to loved ones. They're lightweight, moisture-wicking, and built to circumvent annoyances like uncomfortable seams and heel slipping.A powerful, customizable massage gunTheragunTheragun PRO, available at Therabody, $599This is the best massage gun we've tested — though it's also on the higher end of what you would expect to pay. We loved it in part due to its two-year warranty, adjustable massage arm, customizable speeds, 60 lbs of no-stall force, six different heads, an extra battery, and how easy it is to use. If you can't give your girlfriend an unlimited pass to professional massages, this is a nice in-between option. A nice gold vermeil and sapphire zodiac sign necklaceMejuriAquarius Necklace, available at Mejuri, $395Mejuri is a Canadian startup created in 2015 to make fine jewelry affordable to buy — and it has racked up waitlists with more than 40,000 people before. Their popular Zodiac Necklace is cool, minimalist, and something she can wear every day. It's made in gold vermeil with AAA quality white sapphires. Mejuri's affordable pricing means the estimated traditional retail price of the same necklace elsewhere would be closer to $235.  The best bathrobe that money can buySnoweBathrobe, available at Snowe, $100Snowe's unisex bathrobe has been called the best and most absorbent terry robe on the market, and I'm just one more fervent believer. The cotton fiber traps air for extra absorbency and is soft and plush, and the unisex sizing means it will feel like a blanket-turned-robe. Perfect functionality, and extra points for coziness.A tracker for finding cell phones and wallets quicklyAmazonTile Pro, available at Amazon, $34.99When your girlfriend can't find her phone, all she has to do is click the Tile button to make her phone ring, even if it's on silent. We've found them especially useful lately. A monogrammed jewelry case from a minimalist fashion startupCuyanaLeather Jewelry Case, available at Cuyana, $85 (+ $15 for monogram)Keeping track of tiny and delicate jewelry is difficult — but jewelry cases are a pretty and useful solution. This is a thoughtful and personalized gift, especially if you've gotten your girlfriend jewelry in the past, or plan to in the future. It's made from premium leather, comes in many colors, and can be monogrammed with her initials. Cuyana is a cool leather bag startup she may have already heard of. A pair of blue light-blocking glasses that look good enough to wear outside of the houseFelix GrayFaraday Glasses, available at Felix Gray, from $95If she's ever complained about strain from constant screens, you can help mitigate it with a pair of blue-light-blocking glasses. They might even help with sleep.The convenience of Apple AirPodsHollis Johnson/Business InsiderApple AirPods, available at Best Buy, $119.99When it comes to convenience, truly wireless earbuds are the best. And Apple's AirPods are very popular with iPhone and Android users alike. They look subtle compared to other bigger options, and they're easy to use. For the latest option, you can pick up AirPods Pro for $189.99. A 215-piece art kit for creative projectsAmazonArt 101 215-Piece Wood Art Set, available at Amazon, $49.34If your girlfriend loves to create art, this 215-Piece art kit includes everything she'll need for projects: crayons, colored pencils, oil pastels, fine line markers, watercolor cakes, and acrylic paint.A year-long MasterClass membership to learn about things she's passionate aboutMasterClassAnnual Membership, available at MasterClass, from $180/yearIf your dinner table conversations often include talk of photography, or tennis, or screenwriting, or another passion, consider getting your girlfriend a gift that helps her spend time with her hobbies. We love MasterClass because it kind of feels like entertainment. Classes are short, there's no homework, and she can listen to the audio like its a podcast or watch the videos. The site hosts classes taught by well-known celebrities and industry leaders — from Neil deGrasse Tyson teaching Scientific Thinking and Communication to Malcolm Gladwell on Writing, Shonda Rhimes on Writing for Television, and Bob Iger on Business Strategy and Leadership. You can read our full review here.A one-size-fits-all lid that instantly declutters the cabinetsMade InSilicone Universal Lid Kit, available at Made In, $59This was one of the gifts that professional chefs recommended to us for avid home cooks. If your girlfriend loves to cook and has a plethora of differently sized pots and pans with all the corresponding lids, having one universal lid can declutter and streamline their space in one move. A convenient phone sanitizerPhoneSoapPhoneSoap 3 Smartphone UV Sanitizer, available at PhoneSoap, $79.95This small, easy-to-use device uses UV-C light to sanitize a phone, killing 99.9% of common household germs.A bottle (or two) of wineMcBride SistersMcBride Sisters Black Girl Magic Wine, starting at $19.99As the largest black-owned wine company in the United States, the McBride Sisters Collection is the perfect place to find a wine gift for your girlfriend. The Black Girl Magic collection in particular is inspired by the resilience of black women and includes varieties from Rosé to Merlot. The new Sonos Move portable speakerAmazonSonos Move, available at Best Buy, $399.99The Sonos Move is one of the best speakers on the market. It's powerful, can be controlled by voice or an app, and has Amazon Alexa built-in so on WiFi you can play music, check the news, set alarms, get your questions answered, and more, without much effort.A stylish, savvy carry-on with an external battery packAwayCarry-On, available at Away, from $225Away's hyper-popular suitcases deserve their hype. Their hard shell is lightweight but durable, their 360° spinner wheels make for seamless traveling, and the external (and ejectable and TSA-compliant) battery pack included can charge a smartphone five times over so she never has to sit behind a trash can at the airport for access to an outlet again. It's also guaranteed for life by Away. Find our full review here.16 highly-rated sheet masksAmazon/Business InsiderSheet Mask Set, available at Amazon, $22.99Grab 39 sheet masks to make it easier for your girlfriend to have a frequent and well-deserved "treat yourself" day. These are highly-rated and have both vitamin E and collagen included for healthy, happy skin.   A weighted blanket for better restAmazonYnM Weighted Blanket, available at YnM, from $49.80Weighted blankets help create more restful sleep by "grounding" the body, and YnM makes some of the most popular and affordable weighted blankets on the internet. There are multiple sizes and weights for the ideal fit and width (they recommend picking whichever is about 10% of your body weight), and the segmented design allows you to move around without displacing all the weighted beads inside. A mini multipurpose toolAmazonMini Multitool Knife 12 in 1, available on Amazon, $9.99This lightweight multitool has a knife, pliers, screwdrivers, wire cutters, scissors, and a bottle opener — so it's nine times as many opportunities for being useful as your average gift. A sleek fitness tracker that includes heart rate monitoringFitbitFitbit Inspire 2, available at Best Buy, $69.95Fitbit's affordable Inspire 2 tracker has no shortage of useful features to keep someone informed about their physical activity — tracking calorie burn, resting heart rate, and heart rate zones.An 8-in-1 pan that helps to declutter your homeOur PlaceAlways Pan, available at Our Place, $145If you're spending more time at home cooking together — or re-organizing the kitchen — she may appreciate a good 8-in-1 cookware hack.The Always Pan from startup Our Place is a frying pan, saute pan, steamer, skillet, saucier, saucepan, non-stick pan, spatula, and spoon rest in the space of a single pan. In other words, a clever generalist that's extremely convenient for small spaces or minimalist cooks. You can read our review here.A video message from someone she loves almost as much as youCameo/Business InsiderCameo Video Messages, available at Cameo, from $15Whether it's your girlfriend's favorite actor, comedian, or athlete, you're likely to find someone she admires on Cameo. Cameo allows celebrities to send custom video messages to recipients for nearly any occasion, and a personalized video is a gift that she'll never forget. Personalized cartoon couple mugsShelley KleinPersonalized Family Mugs, available at Uncommon Goods, from $30These cute mugs can be personalized for what you're like as a couple, making for a special weekend morning coffee routine or just a nice reminder in the kitchen cabinet. On the back, you can add a family name and the year the couple was established if you'd like. Silky, breathable leggingsEverlaneEverlane Leggings, $68Everlane's Perform Leggings are some of our all-time favorites — they're breathable and silky, like a slightly less expensive version of Alo leggings. You can read a full review of the Everlane Perform Leggings and see pictures of them here.Beautiful candles from a cool startupOtherlandOtherland Candles, available at Otherland, $36Otherland is a candle company started by Abigail Cook Stone, a former art buyer for Ralph Lauren. If you want to give your girlfriend a candle that burns for 55 hours, looks beautiful, and comes from a startup that she's probably seen (or coveted) before, this is a great option. Find our full review here.The last weekend bag you'll ever need to buy herRothy'sRothy's The Weekender, available at Rothy's, $550With its large, padded top handles and roomy interior, Rothy's The Weekender might be the last overnight bag your partner ever needs. It's got multiple pockets and a sturdy insert that helps it maintain its shape. You'll be shocked by how much you can fit in this bag — definitely enough for a long weekend. It's made of recycled plastic pulled from the ocean and is machine washable.  The "world's most comfortable shoes"AllbirdsWomen's Wool Runners, available at Allbirds, $98The classic Wool Runners make a great gift for the uninitiated, though we'd also highly recommend the brand's casual cup sole Wool Piper for everyday wear if that's more your partner's style. You can find our full review of the Runners here, and the Wool Pipers here.A customized map of her favorite placeGrafomapCustom Map Poster, available at Grafomap, from $49Grafomap lets you design custom maps of anywhere in the world — like the first place you met, the best trip you ever took together, or the hometown she couldn't wait to show you. It's unique, thoughtful, and pretty inexpensive.  You can find our full review here.A gift card to a popular wine subscription clubWincGift Card, available at Winc, from $29.95Winc is a personalized wine club — and we think it's the best one you can belong to overall. Members take a wine palate profile quiz and then choose from the personalized wine suggestions. Each bottle has extensive tasting notes and serving recommendations online, and makes it easy to discover similar bottles. Gift her a Winc gift card, and she can take a wine palate profile quiz and get started with her own customized suggestions. An exercise bike for staying active indoorsNordicTrackCommercial S22i Studio Cycle, available at NordicTrack, $1,499If money is of no object and your partner is trying to figure out how to exercise while staying indoors, an exercise bike is a particularly thoughtful and useful gift right now. We like the NordicTrack option the most overall, but we also like and recommend options that are under $200. A large print on fine art paper of a favorite memoryArtifact Uprising/Business InsiderLarge Format Prints, available at Artifact Uprising, from $22Artifact Uprising makes luxury prints at accessible prices — and they make especially thoughtful gifts that look like they should cost much more. Get one of their favorite photos printed on archival fine art paper for $20 and up, or thoughtful cards for as little as $1 per custom card. You can also make a color series photo book for $22, a set of prints for $9, and a personalized calendar on a handcrafted wood clipboard for $30.A mug that keeps hot drinks hot for up to six hours straightHydro FlaskHydro Flask Mug, 12 oz, available at Hydro Flask, from $24.95This mug is a common desk companion for the Insider Reviews team. The 12-ounce coffee mug has the company's proprietary TempShield insulation that made its water bottles famous. This mug will keep hot drinks hot for up to six hours, and cold drinks cold up to 24 hours. Read our full review of it here.A gift card for delicious, healthy meals she can make in about 30 secondsDaily HarvestGift Card, available at Daily Harvest, from $50Daily Harvest is a food startup that makes it possible to eat healthy, delicious meals for less than $10 each even if you only have 30 seconds to spare for prep time. Meals are pre-portioned, delicious, and designed by both a chef and a nutritionist to make sure they're tasty and good for you. It addressed most of my healthy eating roadblocks. The best hair dryer ever inventedDyson/FacebookDyson Blow Dryer, available at Ulta, $399.99This gift may seem inexplicably expensive, but the Dyson blow dryer is lauded as the best one ever invented, making it a cult favorite. It prevents hair damage by measuring air temperature 20 times per second, has a specially designed Dyson motor for fast drying, and reduces static, breakage, and makes hair look smooth and shiny.Comfy, high-end sheets at the best price on the marketBrooklinenLuxe Hardcore Sheet Bundle, available at Brooklinen, from $240Brooklinen is one of our favorite companies, point-blank. We think they make the best high-end sheets at the best price on the market, and most of the Insider Reviews team uses Brooklinen on their own beds.The Luxe Hardcore Sheet Bundle comes in plenty of colors and patterns, and you can mix and match them to suit your taste. Grab a gift card if you want to give her more freedom. If you opt for a sheet bundle, she'll receive a core sheet set (fitted, flat, two pillowcases), duvet cover, and two extra pillowcases in soft, smooth 480-thread-count weave.This cozy loungewear set that she'll never want to take offKnixKnix Cozzzy Track Pants, available at Knix, $46.75Cozy and warm, the Cozzzy Track Pants from Knix are comfortable enough to wear around the house while also being cute enough to wear to the market. The ultra-soft fabric feels like the softest terry cloth washcloth you've ever used, and its slouchy fit is modern and luxe. She'll love the joggers with cuffed legs that are sleek without being overly tight. Comes in cream and gray.The internet's favorite olive oilBrightlandAwake Olive Oil, available at Brightland, $37Brightland's olive oils make great gifts for cooks and anyone else who loves to entertain. The white bottles protect the EVOO from light damage and look nice displayed on a countertop. Find a full review here. A high-tech towel that keeps her from slipping around during yoga classesMandukaManduka Yogitoes Yoga Mat Towel, from $42.50Manduka is known for making the best yoga products, and their Yogitoes towel is one of the most loved. It has tiny 100% silicone nubs on one side that grab yoga mats and keep yogis from slipping around during the exercise. Having a good towel can make a big difference. It also comes in 19 great colors and gets eco-friendly points. Each Yogitoes towel is made from eight recycled plastic water bottles, and made with dyes free of azo, lead, or heavy metal. A card game that's meant to deepen personal connectionsUrban OutfittersWe're Not Really Strangers Card Game, available at Urban Outfitters, $30This card game, from the popular Instagram account We're Not Really Strangers, is designed to enhance connections between people with different levels: perceptions, connection, and reflection. Not only is it a card game you haven't played before, but it's also a thoughtful activity you can enjoy with your girlfriend.A cooking class from one of the nation's top chefsCozymeal/InstagramGift Card, available at Cozymeal, from $50With a Cozymeal class, you and your girlfriend can learn how to make anything from fresh pasta to Argentinian staple dishes from the nation's top chefs. In addition to cooking classes, Cozymeal offers food tours in various cities (when it's safe to do so). A satin-lined beanieAndrea Bossi / Business InsiderKink & Coil Satin-Lined Beanie, $36Most people with naturally curly hair avoid wearing hats to reduce frizz, but Kink and Coil's satin-lined beanie solves that issue. Just like a silk pillowcase or a bonnet, the inside of the beanie is designed to protect your hair from frizz and damage. On top of that, the pom-pom can be removed, if she'd prefer to wear the hat without it.We spoke with a trichologist to learn more about how satin- and silk-lined beanies can benefit anyone with curly or high-porosity hair. Rihanna's bestselling Fenty skincare setFenty BeautyFenty Skin Start'rs Full-Size Bundle, $75Rihanna's bestselling skincare bundle from her brand Fenty includes everything she'll need to maintain healthy skin. The kit includes a facial cleanser, toner, and two-in-one sunscreen moisturizer. Read our full review of the Fenty skincare set here.A cashmere crew from Everlane that she'll own foreverEverlaneThe Cashmere Crew, available at Everlane, from $120For a closet staple she'll own for years to come, Everlane's $120 Cashmere Crew (available in various colors) is about the safest choice you can make. Everlane has plenty of great gifts (you can find the Everlane basics we wear repeatedly here), so you can't really go wrong. A small cold brew coffee makerAmazonAirtight Cold Brew Iced Coffee Maker, available at Walmart, $34.99This small cold brew maker (available in 1-liter and 1.5-liter options) makes coffee's less acidic, smoother cousin cold brew in 12 hours in the fridge, so there's minimal hassle and always a treat ready in the morning on your girlfriend's way out the door to work. A stylish leather makeup pouch that's thoughtful and easy to travel withDagne DoverHunter Toiletry Bag, available at Dagne Dover, from $40Dagne Dover is quickly becoming one of the best women's handbag companies to know, and its toiletry pouches are a great and relatively affordable gift. The small size holds a handful of go-to toiletries, and the large should have enough space for all of the grooming essentials.A comfy zip-up for the months aheadPatagoniaBetter Sweater, available at Patagonia, from $139Patagonia makes our favorite athleisure options overall, and that definitely includes the Better Sweater. It works in pretty much any environment — in the office, at home, on a hike, or on a casual night out — and has zippered pockets to keep hands warm in the cold months. We're also big fans of the 1/4 Zip option.A new waterproof Kindle Paperwhite for reading anywhereAmazonKindle Paperwhite, available at Amazon, $129.99If your girlfriend is a reader, we'd suggest looking at Amazon's new Kindle Paperwhite; it's the company's thinnest and lightest yet, with double the storage. Perhaps the best features are that it's waterproof and has a built-in adjustable light for the perfect reading environment indoors or outdoors, day or night. If she loves a nice, relaxing bath, pair this with a caddy, bath bombs, and a glass of wine for a relaxing night in that you've already taken care of.A cult-favorite hair towel that reduces damage and cuts drying time by 50%AquisAquis Rapid Dry Hair Towel, available at Anthropologie, from $30Aquis' cult-favorite hair towels can cut the amount of time it takes for her hair to dry in half — a claim we're happy to report holds up. The proprietary fabric also means there's less damage to wet hair while it dries. A fun, unique local dateAirbnb/Business InsiderAirbnb Experiences, available at Airbnb, from $10Airbnb started offering experience programming online. You can book from thousands of experiences that range from workouts with Olympic athletes over Zoom to cooking classes with chefs you'd normally have to hop on a flight to meet. We tested a a tango class and a Moroccan cooking class.It's also an under-utilized part of Airbnb, making it a thoughtful and unusual gift — and one you may keep using with your girlfriend for out-of-the-box date nights in the future. As states and countries slowly begin reopening, Airbnb listings and in-person activities are becoming options again, but you can still participate in online activities from home if you're not ready to travel yet or just want a fun activity. A houseplant that arrives already potted and is easy to care forLeon & GeorgeSilver Evergreen, available at Leon & George, from $149Leon & George is a San Francisco startup that will send beautiful plants — potted in stylish, minimalist pots — to your girlfriend's door. All she has to do is to occasionally add water. Flowers are wonderful, but houseplants have a much longer shelf life, and most of Leon & George's options are very easy to care for. We'd also recommend checking out Bloomscape for small plant trios under $70.  Beautiful earrings she'll own foreverStone and StrandSparkle Diamond Cluster Huggies, available at Stone and Strand, $395They're solid gold, conflict-free, and made locally. Plus, the style is versatile enough that your girlfriend can wear them every day.A membership to a popular skincare and makeup subscription that sends new, cool, and bestselling products once per monthConnie Chen/Business InsiderBirchbox Gift Subscription, available at Birchbox, from $45Birchbox is a skincare and makeup subscription that sends tons of samples of new and cult-favorite products to subscribers so they can find products they love without much commitment or cost upfront. Makeup and skincare products can be expensive, so this is a particularly helpful service. A funny and unique cardLoveFromCo/EtsyYou Take My Breath Away, available at Etsy, from $4.09You can pick up a card from Walgreens on your way to exchange gifts, but it'll mean more if you think just a few days ahead. Etsy has great options for cheap, unique, handmade gifts that are cool and thoughtful. This one is perfect for a couple who appreciates a "The Office" deep cut. A streaming stick that gives you access to hundreds of thousands of movies and TV episodesAmazonRoku Streaming Stick +, available at Best Buy, $44.99Roku's Streaming Stick+ is exceptional for its 4K, HDR, and HD streaming, and long-range wireless receiver. Installing it is an easy process and starts by plugging the stick into his TV.A great foam rollerTB12Vibrating Pliability Roller, available on TB12, $160If your girlfriend is very physically active, a foam roller is a nice gift to aid in her workout recovery and soreness. This one is our favorite because it has four levels of vibration, a pattern that targets muscle groups, and a durable exterior. But, if your budget doesn't fit a $160 foam roller, never fear — we like some under-$20 options too. A subscription to a book club that sends her great hardcovers once per monthBook of the Month Instagram3-Month Subscription, available at Book of the Month, $49.99If she's a bookworm, Book of the Month is an especially thoughtful and unique gift — it's a book club that has been around since 1926, and it's credited with discovering some of the most beloved books of all time ("Gone with the Wind" and "Catcher in the Rye" to name a couple). If you gift her a subscription, she'll receive a hardcover book delivered to her door once a month. Books are selected by a team of experts and celebrity guest judges.If she's really more into audiobooks or e-reading now rather than hardcovers, check out a gift subscription to Scribd (full review here).Fancy popcorn and a movie nightWilliams SonomaAmish Popcorn Gift Set, available at Williams Sonoma, $29.95Make a reservation at a nice outdoor restaurant, stock up on your girlfriend's favorite movie candy and some fun drinks ahead of time (wrap them for an extra wow-factor), and create your own in-house cinema experience. Or, perhaps even better, order a bunch of take-out from your favorite local restaurants.A gift set of a dozen decadent bath bombsAmazonBath Bomb Gift Set, available at Walmart, $34.53This bath bomb gift set comes with 12 handcrafted bath bombs that range from mango-papaya to lavender in scent, and some of which include flower petals. They're a great addition to a long bath, as is a bamboo bathtub tray. A subscription to a coffee service that sends coffees specifically for her taste preferencesDriftaway Facebook3-Month Subscription, available at Driftaway Coffee, from $75If your girlfriend loves coffee, she'll probably love to try Driftaway. It's a gourmet coffee subscription that gets smarter the longer you use it, remembering your preferences and steering you towards increasingly accurate brews for your specific tastes. The first shipment will be a tasting kit with four coffee profiles, which she'll rate online or in the app to start getting personalized options.A book of love letters written by history's great menAmazonLove Letters of Great Men, available at Amazon, $13.95It can be hard to do yourself justice in words — whether they're spoken or written in a card. This compilation of love letters written by great men can help you say it without actually technically saying it. Bonus points if you write your own, or mark the ones in the book that most closely resemble your own feelings.  A beautiful diamond necklace she'll have foreverAUrateDiamond Bezel Necklace, available at AUrate, from $320A diamond necklace doesn't have to be thousands of dollars, as fine jewelry startups like AUrate are proving. This necklace is something she can keep and wear forever, and both the solid gold and conflict-free diamonds are of the highest quality. Lush, subtly scented body washNecessaireNecessaire — The Body Wash, available at Sephora, $25New startup Necessaire formulates its body care products with nourishing vitamins and clean ingredients. The subtly scented Body Wash will leave her skin feeling clean, soft, and nourished. Hand sanitizer that smells goodTouchlandTouchland Power Mist Hand Sanitizer, available at Touchland, $9Many of us are using hand sanitizer a lot these days. Why not pick one they'd enjoy using? This version from Touchland is a little moisturizing and doesn't smell like alcohol or make hands sticky. Read our full review here.A stylish weekender to keep her organized on the goCaraa SportCaraa Studio Tote Large, available at Caraa, $250Caraa Sport makes some of the most functional and best-looking gym bags on the market. This one can transition from tote to backpack by adding straps. It also has a hidden shoe compartment and a waterproof and antimicrobial lining.An award-winning at-home facialSephoraDrunk Elephant T.L.C. Sukari Babyfacial, available at Sephora, $80This is an award-winning mask with a big following in the beauty and skincare community. It's $80, but it's an at-home pro-quality facial your girlfriend can use anytime — which is a fraction of the price required for regular facials.Kitchen towels that rate wines by how well they pair with certain foodsUncommon GoodsWine Pairing Towel, available at Wolf & Badger, $19If your girlfriend loves having a nice glass of wine and/or cooking, she'll appreciate the thought behind this unique wine pairing towel. Grab a bottle and some corresponding ingredients for a fun night in for the two of you.Read the original article on Business Insider.....»»

Category: worldSource: nytDec 8th, 2021

Record Backlog And Inability To Produce, Pushes Class 8 Orders To Lowest November In 26 Years

Record Backlog And Inability To Produce, Pushes Class 8 Orders To Lowest November In 26 Years By Alan Adler of FreightWaves, Class 8 truck orders in November were the lowest for that month in 26 years, reflecting a huge backlog of unbuilt trucks rather than a demand issue. The backlog of bookings in queue at major OEMs exceeded 14 months, according to ACT Research. That means that with few exceptions, an order for a Class 8 power unit placed this month would be delivered in February 2023. “Long backlog lead times resulting from ongoing supply constraints continue to pressure new order activity,” said Kenny Vieth, ACT president and senior analyst. “With backlogs stretching into late 2022 and still no clear visibility about the easing of the ‘everything’ shortage, modest November order results suggest the OEMs are continuing to take a more cautious approach to booking orders so as not to extend the cycle of customer expectations management.” ACT reported preliminary Class 8 orders of 9,800 in November. FTR Transportation Intelligence said its preliminary estimate was 9,500. Both analytics firms will report actual numbers for November around the middle of December. Production estimates falling FTR said orders were down 41% from October and 82% year over year. Supply chain uncertainty is the biggest reason for the lull. On a rolling 12-month basis, Class 8 orders total 393,000, more than the industry has capacity to build. ACT’s latest production estimate for 2021 is 260,000, a number that has been adjusted downward several times.+ A shortage of semiconductors used in everything from power windows to safety systems has prompted truck makers to build and park new trucks for which they have orders but are unable to complete.   And the paucity of new trucks has driven prices of late model used trucks skyward, when they are even available. Canada-based auction house Ritchie Brothers reported that a 2020 Kenworth W990 sleeper cab sold for $166,110 in an auction in Alberta, Canada last week. “The low order numbers in November in no way are representative of total demand,” said Don Ake, FTR vice president of commercial vehicles. “The weak volumes are because OEMs are managing their backlogs very carefully.“ In addition to inflated equipment prices, spot rates for freight are at record levels and contract rates are rising. When the manufacturing sector of the economy gets past the supply chain crisis, freight volumes will increase, Ake said. Payback for overbooking ACT’s October data, the last full month available, showed a Class 8 backlog of about 281,000 units. Based on the build rate during the month, the backlog-to-build ratio was 14.6 months because of supply challenges, Vieth said. Component deliveries, especially semiconductors, have been unreliable since March, Ake said. OEMs booked a huge number of orders a year ago, expecting to be able to build at full capacity throughout 2021, which has proved unachievable. “After overbooking almost every month in 2021, the OEMs are being extremely meticulous about scheduling commitments in 2022,” Ake said. “Once the OEMs are confident they can obtain the necessary production inputs, they will boost production and enter more orders.” Tyler Durden Mon, 12/06/2021 - 19:40.....»»

Category: blogSource: zerohedgeDec 7th, 2021

China To Cut RRR "Within A Week" As Evergrande Braces For Imminent Default

China To Cut RRR "Within A Week" As Evergrande Braces For Imminent Default Last Friday, just as markets were set to crater, during a meeting with IMF Managing Director Kristalina Georgieva, China's Premier Li hinted at a potential RRR cut in the near term to support the real economy. Li's comment comes amid sluggish activity growth - the economy struggled with downward pressures from property slowdown, the lingering drag from “dual controls” policy and power shortage, and multiple waves of local outbreaks of Covid-19. Specifically, Premier Li commented that "China would maintain prudent macro policy, enhance policy effectiveness and pertinency, keep liquidity at reasonable and adequate levels, cut RRR when appropriate to increase support to the real economy and in particular SMEs". In its take of Li's remarks, Goldman's Chinese economists said that they think PM Li’s comment implies "a targeted RRR cut is very likely in the near term," and they go on to note that "based on previous experiences, after Premier Li’s comment, PBOC usually announces the actual cut within a week." That said, the net liquidity impact may depend on whether the central bank rolls MLF in full on December 15th when RMB 950bn loans will mature. It also means that the cut will likely take place before the 15th. Goldman also noted that despite PBOC Sun’s implicit comment on no RRR cut in mid October, the recent slump in economic growth and increased stresses in the labor market likely still concerned policymakers and in particular the State Council. Property indicators such as land sales continued to deteriorate, and despite PBOC’s guidance on accelerating credit extensions, TSF data has surprised to the downside in the recent months (on the other hand, China's credit impulse can't drop any further and is poised for a sharp bounce if only on base effects). The strict restrictive measures against Covid-19 also dragged down consumption activities and export growth might have also moderated in November. Of course, the imminent RRR cut will hardly be a surprise as it comes one week after we reported that "Beijing Capitulates: Urges Local Govts To Unleash Debt Flood As Cities Begin Backstopping Property Developers"; as we discussed than, there have been a series of policy easing measures in recent weeks - especially in the property market - and high frequency indicators suggest incremental improvement in construction activities. To be sure, the upcoming Politburo meeting and Central Economic Work Conference may shed more light on the policy outlook next year. Policymakers may send incremental easing signals while stating a stable overall macro policy next year. One such signal came early on Monday, when China's Securities Daily confirmed that Beijing may cut the RRR ratio, citing Li Chao, chief economist at Zheshang Securities, who said bank would use the liquidity released from the cut to repay the 950BN yuan in medium-term policy loans coming due on Dec 15, The reaction in the market was quick and in at the start of trading, the yield on China’s 10-year government bonds slumped the most since July, on expectations the central bank will soon reduce the the reserve-requirement ratio for lenders: China's 10-year yield was down 5bps to 2.85%, while 5-year tenor falls 6bps to 2.68%. In other news, shares of China's insolvent property giant Evergrande Group tumbled 12% to an 11-year low on Monday after the firm said late on Friday what was patently obvious to anyone, i.e., that there was no guarantee it would have enough funds to meet debt repayments, prompting Chinese authorities to summon its chairman. In a filing late on Friday, Evergrande, the world's most indebted developer, also said it had received a demand from creditors to pay about $260 million. That prompted the government of Guangdong province, where the company is based, to summon Evergrande Chairman Hui Ka Yan, and it later said in a statement it would send a working group to the developer at Evergrande's request to oversee risk management, strengthen internal controls and maintain normal operations. As Bloomberg put it, "Evergrande’s statement offers its most explicit acknowledgment yet that its $300 billion of overseas and local liabilities have become unsustainable." Evergraned's stock fell more than 12% to HK$1.98, its lowest since May 2010. The shares fell as a 30-day grace period on a coupon payment of $82.5 million due on Nov. 6 comes to an end on Monday. Evergrande, whose default is just a matter of time, is grappling with more than $300 billion in liabilities amid a Chinese property sector that is all but dead. The upcoming collapse would send shockwaves through the country's property sector and beyond. That's why, repeating what it did two months ago when the Evergrande turmoil first emerged, China's central bank said in a series of apparently coordinated statements late in the evening, that any risks to the broader property sector could be contained. Which is precisely what Bernanke said about subprime. Short-term risks caused by a single real estate firm will not undermine market fundraising in the medium and long term, the People's Bank of China said, adding that housing sales, land purchases and financing "have already returned to normal in China". Perhaps sensing that Evergrande's doom is nigh and that markets will need to see central bank support to avoid widespread panic, China's securities regulator stated it would support the reasonable financing needs of developers which coupled with a report over the weekend which said that November developer loans increased for a second month, sent the beaten down sector surging. In Hong Kong Sunac China Holdings rose as much as 7.1%, Shimao Group was up 7.3%, Country Garden Holdings jumped 6.4%, Vanke was up 5.2%, China Overseas Land +3.3%, China Resources Land +3.9%, Seazen +4.1%, Greentown China +2.9%, Kaisa Group +3.2%, Guangzhou R&F +2.9%, Zhongliang Holdings Group adds 5.1%, and so on.   Tyler Durden Sun, 12/05/2021 - 22:23.....»»

Category: dealsSource: nytDec 6th, 2021

The Fed Finally Fights Inflation

In his Daily Market Notes report to investors, while commenting on inflation, Louis Navellier wrote: Q3 2021 hedge fund letters, conferences and more Markets are manic crowds and like to panic from time to time. However, our survey this week shows that only 27% of retail investors believe the Omicron variant will cause a market sell off by […] In his Daily Market Notes report to investors, while commenting on inflation, Louis Navellier wrote: 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 Walter Schloss Series in PDF Get the entire 10-part series on Walter Schloss 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); Q3 2021 hedge fund letters, conferences and more Markets are manic crowds and like to panic from time to time. However, our survey this week shows that only 27% of retail investors believe the Omicron variant will cause a market sell off by the end of the year. Consumer Confidence Down Viruses mutate and tend to become less deadly over time, just like the Spanish Flu fizzled out within a couple of years.  Although Dr. Anthony Fauci said the U.S. should be prepared to do “anything and everything” to fight the Covid-19 Omicron variant, he also added that it is “too early to say” whether we need new lockdowns or mandates.  However, it would be political suicide to impose new domestic lockdowns or mandates, so I do not expect fears over the Covid-19 Omicron variant to impact consumer confidence and spending.  Although Black Friday sales were reported to be down 28% compared to last year, the Black Friday sales this year started early, so I still expect this holiday shopping season is shaping up to set all-time records.  As an example, Commerce Department reported personal income rose 0.5% in October, while consumer spending rose 1.3%.  The personal savings rate declined to 7.3% in October.  Anytime consumers are willing to incur debt bodes well for both consumer confidence and holiday spending.  I should add that the Atlanta Fed is now estimating 8.6% annual GDP growth for the fourth quarter, which will largely be driven by robust consumer spending. The manufacturing sector also remains strong.  As an example, the Commerce Department announced that durable goods orders rose 0.5% in October.  Durable goods have risen for 15 of the past 18 months since the April 2020 pandemic low.  Core capital goods rose 0.6% in October as business spending rebuilding inventories and consumer spending remained strong.  Year to date, durable goods orders have risen 22.1%, but shipments have risen 13.1%, so businesses continue to have robust order backlogs that have been complicated by component and part shortages. When both consumers and businesses are healthy, it is effectively acting as a “one-two” punch to propel the U.S. economy and the stock market dramatically higher.  The Fed remains dovish and although the monthly quantitative easing has been curtailed from $120 billion per month to $105 billion, the decrease in quantitative easing was lower than many economists anticipated.  Furthermore, Fed Chairman Jerome Powell was reappointed for a second four-year term, so the Fed is expected to remain dovish. As a result, the “Goldilocks” environment of low-interest rates and persistent quantitative easing persists.  The Wall Street Journal had a fascinating article about Modern Monetary Theory (MMT) and how deficit-financed governments, including the U.S., have gone beyond the point of no return without any “fear of debt.”  The fact that all the money pumping in recent years has not driven interest rates significantly higher has lured politicians into compliancy and put many central bankers in a corner where they cannot raise key interest rates too much. As an example that there is no government fear of debt, the infrastructure bill that passed the House of Representatives and is expected to be extensively modified by Senate in 2022, will be largely financed by more MMT, since hiking taxes in an election year is political suicide.  This essentially means that the Biden Administration will be putting more pressure on the Fed to continue its quantitative easing and money printing so it can continue to boost the federal government’s spending. Strong USD The other “force” helping to keep Treasury bonds low is a strong U.S. dollar.  Since late June, the WSJ Dollar index has appreciated almost 6% against major currencies.  The primary reason the U.S. dollar is rallying is due to higher government bond yields than Japan and Europe, plus a strong economic outlook.  Eventually, a stronger U.S. dollar helps to lower the prices on most important goods as well as commodities (since they are priced in U.S. dollars).  So the Fed’s argument that inflation is “transitory” has some merit, since a strong U.S. dollar will help to push down the prices of imported goods and some commodities. In the meantime, the fear of the Covid-19 Omicron variant and reduced international travel has pushed crude oil prices below $70 per barrel.  Natural gas prices are much more dependent on winter weather, since a cold winter can cause natural gas prices to surge, so energy inflation may persist a bit longer.  The good news is most of our inflation is related to food (high natural gas prices impact fertilizer costs), energy and used vehicle prices (due to the shortage of new cars due to the semiconductor chip shortage).  So much of this inflation is expected to eventually moderate by late 2022. The National Association of Realtors this week announced that existing home sales rose 7.5% in October compared to September.  In the past 12 months, existing home sales have declined 1.4%.  Mortgage rates have risen to an average of 3.22% at the end of October according to Mortgage News Daily. There are only 1.25 million homes for sale, which represents a 2.4-month inventory at the current sales pace.  Median home prices are expected to continue to rise due to tight inventories and continued low mortgage rates. The Conference Board on Tuesday announced that its consumer confidence index declined a bit to 109.5 in November.  The present situation component declined to 142.5, while the expectations component fell to 87.6.  This drop in consumer confidence is very minor and consumers were likely perturbed by the prices at the pump and other inflation that is finally starting to moderate as crude oil prices decline on the Covid-19 Omicron fear. Fed Finally Fights Inflation ADP reported on Wednesday that private payrolls rose by 534,000 in November.  I should add that economists are expecting that the Labor Department will be reporting 548,000 new November payroll jobs on Friday.  The labor force participation rate and average hourly wages will be closely scrutinized.  Clearly, everyone that wants a job can get a job in the currently ultra-tight labor market, so I hope the Fed concludes that its unemployment mandate has been fulfilled. Speaking of the Fed, Chairman Jerome Powell, who was just reappointed for a second term, before the Senate Banking Committee on Tuesday admitted that “The risk of higher inflation has increased.”  Furthermore, Powell also said “To get back to the kind of great labor market we had before the pandemic, we’re going to need … price stability,” then concluded by saying “To get back to the kind of great labor market we had before the pandemic, we’re going to need … price stability.”  Translated from Fedspeak, Chairman Powell basically admitted that the Fed is finally getting ready to pivot from its unemployment mandate to its inflation mandate. Chairman Powell also hinted that the Fed may further reduce its quantitative easing by saying “The economy is very strong and inflationary pressures are high, and it is therefore appropriate in my view to consider wrapping up the taper of our asset purchases … perhaps a few months sooner.”  So the Fed Chairman is starting to lay the groundwork for fighting inflation in the New Year.  Amazingly, the 10-year Treasury bond yield fell below 1.5% as the Fed Chairman spoke in front of the Senate Banking Committee. The Institute of Supply Management (ISM) on Wednesday announced that its manufacturing index rose to 61.1 in November.  The new orders component rose to 61.5, while the production component surged to 62.2.  The backlog of orders component slipped to 61.9 in November, which is still very healthy since any reading over 50 signals an expansion.  Overall, 13 of the 15 industries that ISM surveyed expanded in November and the manufacturing sector remains very healthy. Heard & Notable Canada taps into its strategic reserves to deal with a massive shortage of maple syrup. Worldwide demand jumped 21% prompting The Canadian group Quebec Maple Syrup Producers to release about 50 million pounds of its strategic maple syrup reserves — about half of the total stockpile. Source: NPR Updated on Dec 1, 2021, 5:09 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: valuewalkDec 1st, 2021

Where to buy a PlayStation 5 — sign up for a chance to buy one directly from Sony during the holidays

The PlayStation 5 continues to be in high demand, but we've got the latest details on restocks and tips for finding the console online and in stores. Prices are accurate at the time of publication.When you buy through our links, Insider may earn an affiliate commission. Learn more.Sony's PlayStation 5 remains hard to find months after its release.Sony Sony's PlayStation 5 launched with two models— the $500 standard PS5 and a $400 digital edition. The PS5 remains difficult to find, but retailers like Walmart, Best Buy and GameStop restock regularly. Though discounts are not expected, some stores may have PS5 stock allocated for Cyber Monday. Sony PlayStation 5$499.00 FROM WALMART$499.99 FROM BEST BUY$499.99 FROM AMAZON$499.99 FROM TARGET$499.99 FROM GAMESTOPSony Playstation 5 (All-Digital)$399.00 FROM WALMART$399.99 FROM BEST BUY$399.99 FROM AMAZON$399.99 FROM TARGET$399.99 FROM GAMESTOPThe PlayStation 5 is Sony's fastest-selling video game console ever, with more than 10 million systems sold since its launch in November 2020. However, the record demand and an international chip shortage have made the PS5 one of the hardest items to buy in stores or online.In October, Sony launched a registration program to give shoppers a chance to purchase the PS5 directly from the company during the holiday shopping season. Sony says console supply will remain limited through the end of the year, but a select number of  people who register will receive an email to make a direct purchase. You can find more details and register on Sony's site.We've seen weekly restocks of the PS5 ($500) and PS5 Digital Edition ($400) online at retailers like Walmart, Best Buy, GameStop, and Sony's own PlayStation Direct store. Nearly all PlayStation 5 sales are handled online, but some GameStop locations have made consoles available for in-store purchase on occasion. Walmart usually announces PS5 restocks a few hours before consoles are available online. GameStop sends emails to subscribers ahead of PS5 restocks but typically only makes the PS5 available in bundles. Amazon and Newegg have also made PS5 consoles available, though on a less consistent basis. Newegg uses a raffle system to give shoppers a chance to buy rare items like the PS5. We'll keep this post updated as we get more information about PS5 restocks, but ultimately you'll need to keep checking multiple stores and get a bit lucky with timing to secure the console. Where to buy a PS5: stores and priceThe digital edition of the PlayStation 5 doesn't have a disc drive.SonySeveral stores, including Walmart, Amazon, Best Buy, GameStop, Target, and Newegg, have regularly restocked PlayStation 5 consoles since launch, but they typically sell out as soon as they're available online.Sony's PlayStation Direct store has a registration program that functions like a waitlist for a limited supply of PS5 consoles. If selected, shoppers who sign up will receive an email to purchase a PS5 directly from Sony. Registering does not guarantee you'll get an invite, however, and it's not clear how many people will be selected. The PlayStation 5 comes in two different models — one that has a 4K Ultra HD Blu-ray drive and a "digital edition" with no disc drive at all. The standard model is priced at $500, and the digital edition is priced at $400.At popular sites for resellers, like eBay and StockX, you can expect to pay between $700 or $800 for the PlayStation 5.You can check the links below to see if the PS5 is currently available at each retailer; we'll update this post if a specific store announces a restock.PlayStation 5 (Standard Edition) $499.00 FROM WALMART$499.99 FROM BEST BUY$499.99 FROM AMAZON$499.99 FROM TARGET$499.99 FROM GAMESTOPPlayStation 5 (Digital Edition)$399.00 FROM WALMART$399.99 FROM BEST BUY$399.99 FROM AMAZON$399.99 FROM TARGET$399.99 FROM GAMESTOPTips for buying the PS5A gamer sets up the new Sony Playstation PS5 at his home in Seoul after Sony launched the new console.YELIM LEE/AFP via Getty ImagesBuying the PlayStation 5 has been a struggle since release, but retailers have been making a steady stream of consoles available. If you have a preferred store, you should look into setting stock alerts with their online tools.Third-party stock-tracking websites like HotStock.io can tell you when a store last had the PlayStation 5 in stock and let you set alerts for multiple retailers. A reseller who made more than $40,000 reselling PS5 consoles last year shared more specific tips on how to find the console online.If you encounter issues while trying to check out with an online retailer, keep trying to refresh the product page to add the console and make sure the PS5 is available and in your cart. If possible, create an account with your preferred retailer and enter your payment and shipping information in advance to help the checkout process move quickly.PlayStation 5 specificationsSonyThe PlayStation 5 boasts much more powerful hardware than the PlayStation 4 and PS4 Pro. Upgrades include a solid state hard drive and a graphics card capable of ray-tracing technology.For detailed impressions, check out our full PlayStation 5 review.Disc drive: 4K Ultra HD Blu-ray drive (standard edition only)Storage: 825GB M.2 driveHDMI Out: Up to 4K resolution at 120Hz with HDMI 2.1Ports: 1x USB-C, 3x USB 3.1, 1x EthernetCPU: AMD Ryzen Zen 2, 8 cores, 16 threads at 3.5 GHzGPU: AMD Radeon RDNA 2 at 2.23 GHz, 10.3 TFlopsMemory: GDDR6 16GB, 44GB/s bandwidthPlayStation 5 accessoriesSonyThe new PlayStation 5 family of peripherals haven't been nearly as hard to find as the console itself, though they're not of much use without the main course. That said, they do complement the features of the PlayStation 5, so we've taken to the time to explain what they all do.Sony's $70 DualSense controller is a worthy successor to the PS4's popular DualShock, implementing a built-in microphone, haptic feedback for adjustable trigger tension, and advanced rumble features while also improving the battery life and adopting a USB-C charging cable.DualSense Wireless Controller for PS5$69.98 FROM AMAZON$69.98 FROM PLAYSTATION$69.98 FROM BEST BUY$59.99 FROM WOOTOriginally $69.98 | Save 14%$45.67 FROM AMAZON WAREHOUSEOriginally $57.09 | Save 20%$59.99 FROM B&H PHOTOOriginally $69.98 | Save 14%The $100 Pulse 3D headset is a direct successor to the gold and platinum wireless headsets Sony released for the PlayStation 4. The headset has an adjustable band, built-in microphone, and hardware buttons for mute, voice monitoring, and volume. While the Pulse 3D headset is worth the investment, PS5's 3D audio features will also work with any third-party headset that's been licensed for use on PS4.Sony Pulse 3D Wireless Headset$99.99 FROM AMAZON$99.99 FROM BEST BUY$99.99 FROM GAMESTOPThe $30 PlayStation media remote might look appealing, but for $30 you can find a better or cheaper universal remote to control the console. Several smart TV brands also let you control the PS5 with your standard TV remote too, so it's worth giving that a try before making this investment.Sony PlayStation 5 Media Remote$29.99 FROM GAMESTOPThe $30 DualSense charging stand can charge two controllers and makes for a nice stand alongside the PS5, but it doesn't actually charge your controllers any faster than using a regular cable.Sony PlayStation 5 DualSense Charging Station$29.99 FROM GAMESTOPThe $60 HD camera can be used for streaming in full 1080p and even has a background removal tool, but it cannot be used as a microphone like the PlayStation 4 camera. Luckily, you can just use the DualSense's built-in mic to communicate while playing.Sony PlayStation 5 HD Camera$59.99 FROM GAMESTOPPlayStation 5 exclusive games"Ratchet and Clank: Rift Apart" is Sony's latest PlayStation 5 exclusive."Ratchet & Clank: Rift Apart" / SonySony is committed to creating a full lineup of exclusive games for the PlayStation 5, repeating the same strategy that helped make the PS4 a massive success. Because there are still so many gamers waiting to upgrade to PS5, many of the games released on the new console will also work on PlayStation 4, like "Spider-Man: Miles Morales" and "Sackboy: A Big Adventure."Keep in mind that new games like "Call of Duty Black Ops: Cold War" have been designed to run better on PS5, even if they're available on the PS4. Below, we've listed all the games that require a PlayStation 5 to play, including upcoming titles that don't have release dates yet. Exclusive PS5 games available now"Godfall""Destruction AllStars""Returnal""Astro's Playroom" (pre-installed on PS5)"Ratchet & Clank: A Rift Apart""Final Fantasy VII Remake: Intergrade"Upcoming PS5 exclusive games"Horizon: Forbidden West""God of War: Ragnarok""Gran Turismo 7"For more PlayStation game recommendations, check out our complete roundup of exclusives that make the PS5 worth buying.Read the original article on Business Insider.....»»

Category: worldSource: nytNov 27th, 2021

California Port Truckers "Drowning" In Supply Chain Inefficiencies

California Port Truckers "Drowning" In Supply Chain Inefficiencies By Clarissa Hawes of FreightWaves.com, Despite recent reports that congestion issues are easing on the water at California’s major ports, drayage truckers claim this isn’t the case for them — as long wait times, a flawed appointment system and other efficiency issues continue to plague marine terminal operators in the state. As Port of Oakland officials are urging ocean carriers to add direct services to their port to help relieve supply chain bottlenecks at the ports of Los Angeles and Long Beach, truckers whose livelihoods depend on how many containers they can turn in a day are bracing for possible extra capacity if steamship lines skip Southern California and head to Oakland. “All we hear in the news is the lack of congestion on the waterside and we can confirm that, but we are drowning on the landside by long lines and staffing issues at the terminals,” Bill Aboudi, president of AB Trucking, told FreightWaves this week. Truckers continue to be plagued by inefficiency issues at California ports An unreliable appointment system has drayage companies checking day and night to find open slots and vessel schedule changes — which Aboudi compared to playing musical chairs — have truckers concerned they won’t be able to handle a container volume increase if some of these issues aren’t addressed soon. A group of trucking company owners, each with about 30 years of drayage experience under their belts, are working with port officials in Oakland to create a task force to air their grievances and open the lines of communications with marine terminal operators. Robert Bernando, communications director at the Port of Oakland, confirmed in an email to FreightWaves that a series of three meetings is planned between port truckers and the terminals “to discuss communications and operational guidelines.”  He didn’t provide additional information about possible dates for the task force except to note that “these meetings are not related to the California congestion issue” because the “Port of Oakland is not experiencing any port congestion.” “Our operations are normal and wait times are normal (no delays),” Bernando told FreightWaves. Port truckers disagree. Recently, some truckers were lined up for 10 hours to grab containers from one of the terminals that couldn’t handle the influx of trucks, even though the drivers had appointment times. “I say the Port of Oakland is my port and I want more business coming here, but I’ve got to be able to handle it,” Aboudi said. “And right now, the terminal operators are holding all the cards and we’re not able to handle it, which makes us look inefficient.” Recently, truckers were lined up for nearly two miles outside of the Port of Oakland. Image: Bill Aboudi/AB Trucking. The port truckers also want to discuss terminal operators’ ticketing and banning of drivers for 30 days to upward of 180 days for returning a chassis to the wrong equipment provider, failing to understand a security guard’s instructions or other minor infractions, night gate issues and other fees. During a five-day trip to the major ports in California in late October, FreightWaves interviewed multiple company executives who disputed the widely reported message that a driver shortage was largely to blame for the port congestion issues in California. Instead, company officials said they were actually shedding drivers because of the lack of consistent work due to chokepoints, equipment and ongoing efficiency issues. Maritime Import Shipments for the Port of Oakland for the past year. Chart: SONAR Proposed supply chain solution misses the mark Truckers claim proposed solutions by port officials and state and federal lawmakers to alleviate supply chain chokepoints in California largely miss the mark. One example is the recent announcement that the state plans to issue temporary permits to increase truck weight limits to 88,000 pounds — up from 80,000 pounds combined gross vehicle weight — on state highways to reduce container backlogs at the ports in California. Since there’s no way to add cargo to shipping containers that were weighed and sealed overseas months ago to comply with U.S. highway weight limits, Aboudi and others question the effectiveness of the state’s attempt to reduce the immediate logjam at California’s ports.  “I just pulled a customer’s reefer container that’s been on the water for three months today so this 88,000-pound weight increase isn’t going to help them,” Aboudi told FreightWaves. “I know some customers are just receiving cargo they ordered from Asia back in June.”   Then there’s the issue of truckers getting permits from local jurisdictions to travel on certain roads and bridge weight restrictions throughout the state that could hinder efficiency efforts to haul heavier import loads from the ports. “Do you think the government will move quickly to start issuing permits? I bet some don’t even know this executive order even exists,” Aboudi said. The California Department of Transportation order would require truckers to ensure the gross weight of 88,000 pounds is distributed properly across the axles, which would mean adding additional axles to the truck and trailer in order to remain legal, Aboudi said. “This would require specialty equipment — and adding an axle on 40-foot chassis that are already in high demand to handle these overweight containers would be a challenge,” he said. “Chassis makers can’t build them fast enough and now you’re asking for specialty equipment.” Once truckers leave the terminals with these oversize containers, they risk being stopped by law enforcement before they can find a nearby scale and weigh or a customer may underload the driver’s truck if unsure about the container’s exact weight.  “You face being overweight and having to keep going back and forth and having your truck unloaded and reloaded to be legal,” Aboudi said. “These are things that happen in trucking that you know just happens all with time and we deal with it. But it’s a pain.” Lunar New Year a chance to recalibrate? The president of a Southern California drayage company said the Lunar New Year, which starts Feb. 1, may be the recalibration the ports of Los Angeles and Long Beach need to clear out the backlog as factories in China shut down for two weeks or more. “The salvation I see is this is a time when we can hit the clock and we’ve got 30, 40, maybe 50 days to get the congestion out and reset the game board to zero,” the company executive, who didn’t want to be identified for fear of retaliation by terminal operators, told FreightWaves. Chart: SONAR The executive ramped up operations to 18 drivers during the pandemic to handle the e-commerce boom as consumers’ spending habits changed from shopping at brick-and-mortar stores to online. He’s since had to shave a few owner-operators and a company driver from his payroll since mid-October in an effort to keep his business afloat. While he and other drayage companies expanded operations to accommodate increased e-commerce, the ports and terminal operators in California did not develop a long-term infrastructure plan to handle the massive container volume surge. “We can all see and feel that the supply chain is teetering on the edge. You can feel it because you’re paying more everywhere,” the drayage company executive said. “But in February, if we don’t clear out the congestion and we still have 80 vessels offshore and the next peak season merges with the current one, there’s no way out.” Tyler Durden Fri, 11/26/2021 - 12:31.....»»

Category: blogSource: zerohedgeNov 26th, 2021

U.S. Steel Imports Slump in October As Prices Cool Off

Despite the slowdown in the automotive space due to the chip crunch, strong demand elsewhere along with supply disruptions due to outages are likely to lend support to steel prices through the balance of 2021. U.S. steel imports dropped in October on a monthly comparison basis, but are up year over year for the first ten months of the year — according to the latest American Iron and Steel Institute ("AISI") report.Total Steel Imports Decline 17% in OctoberThe association of North American steel makers noted yesterday that total domestic steel imports fell 16.7% from the previous month in October to roughly 2.71 million net tons. Finished steel imports also declined 6% to around 2.32 million net tons for the reported month.Biggest volumes of finished steel imports from offshore for October were South Korea with 203,000 net tons (down 32% from September), Turkey with 149,000 net tons (up 26%), Vietnam with 110,000 net tons (up 41%), Germany with 83,000 net tons (down 6%), and Japan with 80,000 net tons (down 3%), per AISI.Meanwhile, total and finished domestic steel imports went up 38.5% and 39.6% year over year, respectively, year to date through the first ten months of 2021. The AISI noted that these figures are based on preliminary Census Bureau data.According to AISI, finished steel import market share was estimated at 24% in October, down from 25% in September. For the first ten months of 2021, finished steel import market share was estimated at 21%.For 2021, annualized total and finished steel imports are expected to be 31.8 million net tons (up 44.6% year over year) and 22.8 million net tons (up 41.4%), respectively, AISI noted.Industry Fundamentals Remain Favorable, But Prices Losing SteamThe American steel industry reaped the benefits of record-high steel prices this year, courtesy of an upsurge in demand in major end-use markets and tight supply conditions partly due to production disruptions at domestic steel mills and sizable Section 232 tariffs on steel imports.The pandemic led to a sharp decline in demand for steel across major markets such as construction and automotive during the first half of 2020. The virus-led demand shocks also forced U.S. steel mills to curtail production with capacity utilization dropping to multi-year lows. However, demand for steel picked up as major steel-consuming sectors regained their footing following the easing of the coronavirus-induced restrictions.An upturn in end-market demand has also helped U.S. steel industry capacity utilization rate to break above the important 80% level after plunging to 51.1% in May 2020 — the lowest level in many years. U.S. capacity utilization rate currently remains close to the 85% level amid strong domestic demand. According to AISI, capacity utilization rate clocked 84.3% for the week ending Nov 20.Strong demand and persistent supply shortages have also led to a spike in U.S. steel prices this year to historically high levels, allowing U.S. steel companies to churn out record profits despite an uptick in costs of raw materials including ferrous scrap and headwinds from supply-chain and logistics issues.After plummeting to a pandemic-led low of roughly $440 per short ton in August 2020, the benchmark hot-rolled coil (“HRC”) prices witnessed a significant rally, breaking above the $1,900 per short ton level on the back of a mismatch between supply and demand. The upswing in U.S. steel prices also created an unprecedented price arbitrage between U.S. and international prices, thereby attracting imports of lower-priced foreign steel. The strong price arbitrage triggered more steel shipments to U.S. shores this year despite the hefty tariffs.However, HRC prices have come under pressure since last month after peaking in September 2021, pulled down by a downturn in demand in automotive resulting from production cuts by carmakers in the wake of the semiconductor shortage. However, prices remain elevated notwithstanding the recent declines, currently hovering near $1,800 per short ton.Despite a slowdown in steel demand in the automotive space amid the ongoing chip crunch, healthy demand in other end markets including construction and supply disruptions due to mill outages and scheduled maintenance are likely to lend support to HRC prices through the balance of 2021, driving profit margins of U.S. steel companies in the fourth quarter.Steel Stocks Worth ConsideringA few stocks currently worth a look in the steel space are Schnitzer Steel Industries, Inc. SCHN, Nucor Corporation NUE, Commercial Metals Company CMC and TimkenSteel Corporation TMST.Schnitzer Steel sports a Zacks Rank #1 (Strong Buy). The Zacks Consensus Estimate for SCHN’s current-year earnings has been revised 12.8% upward over the last 60 days. You can see the complete list of today’s Zacks #1 Rank stocks here.Schnitzer Steel beat the Zacks Consensus Estimate for earnings in three of the last four quarters while missing once. It has a trailing four-quarter earnings surprise of roughly 25.6%, on average. SCHN shares have surged around 106% over the past year.Nucor, carrying a Zacks Rank #2 (Buy), has a projected earnings growth rate of 583.5% for the current year. NUE's consensus estimate for the current year has been revised 7.7% upward over the last 60 days.Nucor has a trailing four-quarter earnings surprise of roughly 2.7%, on average. NUE has rallied around 111% in a year.Commercial Metals carries a Zacks Rank #2 and has an expected earnings growth rate of 4.8% for the current fiscal year. The consensus estimate for CMC's current-year earnings has been revised 10.7% upward over the last 60 days.Commercial Metals beat the Zacks Consensus Estimate for earnings in three of the last four quarters while missing once. It has a trailing four-quarter earnings surprise of roughly 7.4%, on average. CMC has rallied around 62% over the past year.TimkenSteel carries a Zacks Rank #2 and has a projected earnings growth rate of 425.8% for the current year. The Zacks Consensus Estimate for TMST’s current-year earnings has been revised 22.7% upward over the last 60 days.TimkenSteel beat the Zacks Consensus Estimate for earnings in each of the trailing four quarters, the average being 59.2%. TMST shares have surged around 213% in a year. Breakout Biotech Stocks with Triple-Digit Profit Potential The biotech sector is projected to surge beyond $2.4 trillion by 2028 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases. Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Recommendations from previous editions of this report have produced gains of +205%, +258% and +477%. The stocks in this report could perform even better.See these 7 breakthrough stocks now>>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 Nucor Corporation (NUE): Free Stock Analysis Report Commercial Metals Company (CMC): Free Stock Analysis Report Schnitzer Steel Industries, Inc. (SCHN): Free Stock Analysis Report Timken Steel Corporation (TMST): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksNov 25th, 2021

Here"s how the supply-chain crisis could impact your holiday turkeys, toys, travel plans, and more

The shipping crisis and labor shortage is leading to higher prices, shortages, and a heightened risk of travel cancellations. Betsie Van Der Meer/ Getty Images The supply chain has been in chaos since the pandemic started, causing shortages and price hikes. Holiday shopping demand is set to worsen the shipping crisis. This holiday season Americans can expect soaring prices, shortages, and travel cancellations. Everywhere you look, there seems to be a new shortage popping up. Major supply-chain disruptions have coincided with a boom in consumer demand, which has caused mass shortages and price hikes. Experts warn this holiday shopping season will look different than any other, as retailers struggle to stock goods in time for the holiday season and travel companies combat a labor shortage.From shortages of popular holiday gifts to travel cancellations, here are some of the biggest supply-chain snags you should factor into your holiday plans this year.Christmas treesA Christmas tree harvest at a tree farm in Salem, Oregon.Nathan Howard/Getty ImagesSuppliers have warned there will be a national shortage of Christmas trees this year. Natural and artificial trees alike are expected to be in short supply.A nationwide drought and scorching temperatures across the Pacific Northwest caused Christmas tree acreage in key states like Oregon to drop by 24% this year, according to the US Department of Agriculture. Supply snags have also impacted the available supply of artificial trees. National Tree Company CEO Chris Butler told Fox Business that shoppers should get their trees as soon as possible, as he expects supplies will not last past Thanksgiving — the peak week for buying Christmas trees.Thanksgiving turkeysMphillips007/Getty ImagesAmerican meat producers say it might be difficult to find turkeys ahead of Thanksgiving.In particular, meat suppliers say turkeys that weigh less than 16 pounds will be in short supply due to their popularity. One of the largest turkey suppliers in the US, Shady Brook Farms, told The New York Post that the industry is struggling with production issues, as well as a lack of workers.Turkeys that are available will be pricey. The average wholesale price for an eight to 16 pound frozen turkey climbed 21% in mid-November, according to the US Department of Agriculture. The American Farm Bureau said on Monday that Thanksgiving food costs have soared over the past month and estimated a complete meal will cost about 14% more than the previous year.CarsA car dealership lot with Ram pickup trucks.David Zalubowski/APBig-ticket holiday gifts will be more expensive and difficult to find this year.New and used car prices have surged this year. Automakers were forced to slash production goals due to the global shortage of computer chips.Used cars became nearly $6,500 more expensive this year, while new cars tacked on about $5,000 to the price tag as compared to the previous year, Insider's Tim Levin reported in October. ElectronicsApple StoreSean Gallup/Getty ImagesPopular electronics like smartphones, laptops, TVs, and video game consoles will be in short supply.The global semiconductor shortage has wreaked havoc on the tech industry. Even Apple will likely be forced to cut production goals for its iPhone 13 as a result of the shortage. Earlier this month, Digitimes reported that iPhone 13 supplies will not catch up with demand until February of next year.Top companies, including Sony and Samsung, have warned investors their electronics — which have already been in short supply — will be even more difficult to find during the holiday shopping season.ToysCourtesy of Montessori in Real LifeSince the summer, toy makers have said parents should prepare for a shortage of popular toys.On Tuesday, CBS Los Angeles reported the shipping crisis has created a shortage of donated toys for programs designed to distribute goods to families in need.More than 85% of US toys were made over seas, according to the Toy Association. The CEO of a mid-sized toy company, Basic Fun, told Bloomberg last month that his company has about $8 million worth of goods — which could fill 140 shipping containers —  waiting to ship out on the 75-day trip from China to their final destination.MGA Entertainment CEO Isaac Larian said parents might have to pivot toward buying less popular items due to product availability. ClothingClodagh Kilcoyne/ReutersIf you're planning on buying apparel this holiday season, expect to pay more.An analysis from Adobe Digital Insights found that clothing had the highest forecast out-of-stock levels of any other shopping category this holiday season.Shipping delays, as well as near-decade-high cotton prices, are impacting the availability and cost of anything from T-shirts to jeans and jackets.Rental carsUsed cars are displayed on the sales lot at Marin Acura on July 13, 2021 in Corte Madera, California.Justin Sullivan/Getty ImagesRental cars will be pricey this holiday season.The cost of rental cars has been on the rise all year, peaking at $700 per day. While prices show some signs of easing as demand drops from summer highs, analysts told Insider's Brittany Chang the market will maintain elevated prices through the holiday season.Airplane ticketsA person boards an airplane.MesquitaFMS/Getty ImagesAirplane ticket prices and availability could become a major hurdle.In the week leading up to Thanksgiving, American Airlines and Southwest Airlines cancelled hundreds of flights across the country, citing weather issues.Last month, United Airlines CEO Scott Kirby said ticket prices are on the rise due to soaring jet fuel costs. The Airline said it is expecting this December to be the busiest air travel month the industry has seen in almost two years, but staff shortages have caused long wait times and lines at airports.In October, Southwest Airline's massive meltdown during Columbus Day weekend hinted at how holiday travel might look different this year. A ripple effect of poor weather and "air traffic control issues" caused over 360 flights to be cancelled and even more to be delayed.GasA woman holds a pump nozzle in her hand at a gas station and refuels a car.Sven Hoppe/picture alliance via Getty ImagesGas prices could be an added wrinkle in plans to visit family over the holidays.Fuel prices have climbed over 60% in the past year. On Wednesday, the average price in the US was about $3.40 per gallon, up from about $2.11 this time last year.Nearly 4 million more people than last year are expected to hit the roads over Thanksgiving, according to the American Automobile Association. AAA predicts fuel prices will continue to rise throughout the winter, as cold weather puts more pressure on oil prices.HotelsGettyIf you're planning to spend your holiday away from home this year, it's going to cost you.In September, CNBC reported that major hotel chains, including Hilton and Marriot, were already seeing a huge spike in early holiday bookings. Milepro.com, a travel booking website, noted that multiple hotels that have been fully booked for the holiday season already.Data from the US Bureau of Labor and Statistics shows hotel prices have surged 18% from this time last year.Read the original article on Business Insider.....»»

Category: topSource: businessinsiderNov 24th, 2021

Global Steel October Production Tumbles on China Output Curbs

World steel production dropped 10.6% in October, dragged down by a sharp decline in output in China on Beijing's aggressive measures to cut production to reduce carbon emissions. Global crude steel production fell for the third straight month in October, dragged down by a slump in output from top producer China on government’s actions to cut production to clean up the environment and a slowdown in domestic steel demand. Production rose across India, the United States and Japan for the reported month with the United States racking up the biggest gain.According to the latest World Steel Association (“WSA”) report, crude steel production for 64 reporting nations dropped 10.6% year over year to 145.7 million tons (Mt) in October. A decline in output across Asia and Oceania, CIS and the Middle East more than offset higher production across other regions in the reported month.China Output Plummets on Environmental Push, Soft DemandCrude steel production from China fell for the fourth consecutive month in October on Beijing’s aggressive measures to curb production in a bid to reach its carbon neutrality goal by 2060. Weak demand, a slump in domestic steel prices and power shortages also contributed to the decline.Per the WSA, production in China, which accounts for nearly half of the global steel output, slumped 23.3% year over year to 71.6 Mt in October. Output is also down from 73.8 Mt in September. Production edged down 0.7% year over year to 877.1 Mt in the first ten months of 2021. China’s monthly steel output has been declining since July after hitting a record high of 99.5 Mt in May 2021.China is aiming to keep 2021 steel output within last year’s record levels. Beijing has been pushing steel mills in the country since early July to implement output and capacity curbs to comply with the norms to cut carbon emissions. The steel sector is among the biggest sources of carbon emissions in China, accounting for roughly 15% of national carbon emissions. China has set a national goal to achieve peak carbon emissions for the steel sector by 2025.Production cuts are expected to keep China’s steel output levels under check through the end of this year. Output is also likely to be capped by softer steel demand in the country, partly resulting from a slowdown in demand in the construction sector amid cold winter weather, and weaker profit margins at steel mills in China. Margins at steel mills have been hit by a sharp decline in steel prices amid falling demand.Steel demand in China has softened since the second half of 2021 due to a slowdown in the country’s economy. China's GDP expanded 4.9% year over year in the third quarter of 2021, slowing from a 7.9% growth in the second quarter, per China's National Bureau of Statistics.A slowdown in construction and manufacturing activities has led to the contraction of demand for steel in China. Manufacturing is being hurt by semiconductor shortages, supply-chain disruptions and power outages. Beijing’s move to take the heat out of its property market partly through credit tightening measures bodes ill for construction steel demand. The debt crisis at one of China top property developers, Evergrande, also increases the risk of a financial contagion in the country’s property sector.How Other Major Producers Fared in October?Among the other major Asian producers, India — the second-largest producer — saw a 2.4% rise in production to 9.8 Mt in October. Steel demand is picking up in India on a revival in economic activities with the lifting of lockdowns and restrictions imposed by state governments to blunt the rapid spread of the virus amid the deadly second wave. Government’s infrastructure push and focus on accelerating the rural economy bode well for steel demand in the country.Production in Japan climbed 14.3% to 8.2 Mt in the reported month. Output rose for the eighth straight month as steel makers in the country are seeing a solid demand in the manufacturing sector. Crude steel output in South Korea slipped 1% to 5.8 Mt. Consolidated output went down 16.6% to 100.7 Mt in Asia and Oceania reflecting the sharp decline in China.In North America, crude steel production jumped 20.5% to 7.5 Mt in the United States in October. Steel demand has rebounded in the Unites States with the resumption of operations, leading to an uptick in capacity utilization and domestic steel production. U.S. capacity utilization rate broke above the important 80% level in May 2021 for the first time since the start of the pandemic last year, and remains close to the 85% level amid strong domestic demand. Overall production in North America went up 16.9% to roughly 10.2 Mt.  In the Europe Union (EU), production from Germany, the biggest producer in the region, rose 7% to 3.7 Mt. Total output was up 6.4% in the EU to around 13.4 Mt. Steel prices in the region have gained some ground of late after coming under pressure since August 2021 as the semiconductor shortage hurt demand from car manufacturers. However, the spike in electricity costs is hurting steel producers in Europe, especially electric arc furnace producers, due to an increase in steelmaking costs.  Production in the Middle East dropped 12.7% to 3.2 Mt in October. Iran, the top producer in the region, saw an 15.3% decline to 2.2 Mt. Africa logged a 24.1% surge to 1.4 Mt.Among other notable producers, output from Turkey went up 8% to 3.5 Mt. Production from Brazil, the largest producer in South America, rose 10.4% to 3.2 Mt in October.Steel Industry on Solid FootingThe steel industry has staged an impressive comeback after being hobbled by the fallout from the coronavirus pandemic last year, thanks to a strong revival in end-market demand and an upswing in steel prices.The pandemic hurt demand for steel across major end-use markets for much of the first half of last year. However, the industry has rebounded strongly on solid pent-up demand and a rally in steel prices. The resumption of operations across major steel-consuming sectors following the easing of lockdowns and restrictions globally has led to an uptick in steel demand.Steel prices have also witnessed an unprecedented surge this year on the back of an upturn in demand across key markets, tight supply conditions and low steel inventory throughout the supply chain. In particular, U.S. steel prices have hit record levels after cratering to the pandemic-induced multi-year lows in August last year. The imbalance between supply and demand has largely contributed to the strong run-up in U.S. steel prices.The benchmark hot-rolled coil (“HRC”) prices plunged to a pandemic-led low of roughly $440 per short ton in August 2020. HRC prices started to recover from September 2020 and shot up more than four-fold from the August 2020 low to above $1,900 per short ton, eventually peaking in September 2021. However, prices have come under pressure since October, weighed down by weaker demand in automotive resulting from production cuts by carmakers in the wake of the ongoing semiconductor shortage. Prices fell below the $1,900 per short ton level earlier this month largely due to the automotive slowdown. Demand weakness in automotive is likely to continue as the chip shortages are unlikely to abate anytime soon.  Despite the softness in automotive, steel demand in other sectors including construction remains healthy. HRC prices also remain elevated notwithstanding the recent declines, currently hovering near $1,800 per short ton. Solid overall demand coupled with supply constraints due to a number of mill outages and scheduled maintenance are likely to lend support to HRC prices through the remainder of this year, driving profit margins of steel companies in the final quarter of 2021.Steel Stocks Worth A LookA few stocks currently worth considering in the steel space are TimkenSteel Corporation TMST, Commercial Metals Company CMC, Nucor Corporation NUE and Schnitzer Steel Industries, Inc. SCHN.TimkenSteel sports a Zacks Rank #1 (Strong Buy) and has a projected earnings growth rate of 425.8% for the current year. The Zacks Consensus Estimate for TMST’s current year has been revised 22.7% upward over the last 60 days. You can see the complete list of today’s Zacks #1 Rank stocks here.TimkenSteel beat the Zacks Consensus Estimate for earnings in each of the trailing four quarters, the average being 59.2%. TMST shares have surged around 228% in a year.Commercial Metals carries a Zacks Rank #2 (Buy) and has an expected earnings growth rate of 3.7% for the current fiscal year. The consensus estimate for CMC's current-year earnings has been revised 9.6% upward over the last 60 days.Commercial Metals beat the Zacks Consensus Estimate for earnings in three of the last four quarters while missing once. It has a trailing four-quarter earnings surprise of roughly 7.4%, on average. CMC has rallied around 68% over the past year.Nucor, carrying a Zacks Rank #2, has a projected earnings growth rate of 583.5% for the current year. NUE's consensus estimate for the current year has been revised 7.7% upward over the last 60 days.Nucor has a trailing four-quarter earnings surprise of roughly 2.7%, on average. NUE has rallied around 118% in a year.Schnitzer Steel carries a Zacks Rank #2. The Zacks Consensus Estimate for SCHN’s current year has been revised 12.8% upward over the last 60 days.Schnitzer Steel beat the Zacks Consensus Estimate for earnings in three of the last four quarters while missing once. It has a trailing four-quarter earnings surprise of roughly 25.6%, on average. SCHN shares have surged around 111% over the past year. Zacks’ Top Picks to Cash in on Artificial Intelligence This world-changing technology is projected to generate $100s of billions by 2025. From self-driving cars to consumer data analysis, people are relying on machines more than we ever have before. Now is the time to capitalize on the 4th Industrial Revolution. Zacks’ urgent special report reveals 6 AI picks investors need to know about today.See 6 Artificial Intelligence Stocks With Extreme Upside Potential>>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 Nucor Corporation (NUE): Free Stock Analysis Report Commercial Metals Company (CMC): Free Stock Analysis Report Schnitzer Steel Industries, Inc. (SCHN): Free Stock Analysis Report Timken Steel Corporation (TMST): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksNov 24th, 2021

Micron Technology Stock Is at the Middle of an Upswing, Not the End

InvestorPlace - Stock Market News, Stock Advice & Trading Tips Demand for Micron memory chips is cyclical, increasingly based on demand for microprocessors. The easing chip shortage is positive for Micron. The post Micron Technology Stock Is at the Middle of an Upswing, Not the End appeared first on InvestorPlace. More From InvestorPlace Stock Prodigy Who Found NIO at $2… Says Buy THIS Now Man Who Called Black Monday: “Prepare Now.” #1 EV Stock Still Flying Under the Radar Interested in Crypto? Read This First........»»

Category: topSource: investorplaceNov 24th, 2021

Where to buy a PlayStation 5 — Walmart is restocking PS5 on November 22, and Walmart+ members get early access

The PlayStation 5 continues to be in high demand, but we've got the latest details on restocks and tips for finding the console online and in stores. Prices are accurate at the time of publication.When you buy through our links, Insider may earn an affiliate commission. Learn more.Sony's PlayStation 5 remains hard to find months after its release.Sony Sony's PlayStation 5 launched with two models— the $500 standard PS5 and a $400 digital edition. The PS5 remains difficult to find, but retailers like Walmart, Best Buy and GameStop restock regularly. Walmart.com will restock the PS5 on November 22, and Walmart+ members get first access at 4 p.m. ET. Sony PlayStation 5$499.00 FROM WALMART$499.99 FROM BEST BUY$499.99 FROM AMAZON$499.99 FROM TARGET$499.99 FROM GAMESTOPSony Playstation 5 (All-Digital)$399.00 FROM WALMART$399.99 FROM BEST BUY$399.99 FROM AMAZON$399.99 FROM TARGET$399.99 FROM GAMESTOPThe PlayStation 5 is Sony's fastest-selling video game console ever, with more than 10 million systems sold since its launch in November 2020. However, the record demand and an international chip shortage have made the PS5 one of the hardest items to buy in stores or online.Walmart will sell PlayStation 5 consoles online on November 22, with Walmart+ customers getting first access at 4 p.m. ET. Other shoppers will be able to buy the PS5 starting at 8 p.m. ET while supplies last. Walmart+ costs $13 a month or $98 per year, and you won't be able to buy the PS5 early using a free trial membership. Walmart's PS5 restock is online only, so don't expect to find the console in stores during Black Friday weekend.In October, Sony launched a registration program to give shoppers a chance to purchase the PS5 directly from the company during the holiday shopping season. Sony says console supply will remain limited through the end of the year, but a select number of  people who register will receive an email to make a direct purchase. You can find more details and register on Sony's site.We'll keep this post updated as we get more information about PS5 restocks, but ultimately you'll need to keep checking multiple stores and get a bit lucky with timing to secure the console. Where to buy a PS5: stores and priceThe digital edition of the PlayStation 5 doesn't have a disc drive.SonySeveral stores, including Walmart, Amazon, Best Buy, GameStop, Target, and Newegg, have regularly restocked PlayStation 5 consoles since launch, but they typically sell out as soon as they're available online.Walmart will sell PS5 consoles online on November 22. The sale will launch early for Walmart+ paid members at 4 p.m. ET and then expand to all shoppers at 8 p.m. ET while supplies last. Sony's PlayStation Direct store has a registration program that functions like a waitlist for a limited supply of PS5 consoles. If selected, shoppers who sign up will receive an email to purchase a PS5 directly from Sony. Registering does not guarantee you'll get an invite, however, and it's not clear how many people will be selected. The PlayStation 5 comes in two different models — one that has a 4K Ultra HD Blu-ray drive and a "digital edition" with no disc drive at all. The standard model is priced at $500, and the digital edition is priced at $400.At popular sites for resellers, like eBay and StockX, you can expect to pay between $700 or $800 for the PlayStation 5.You can check the links below to see if the PS5 is currently available at each retailer; we'll update this post if a specific store announces a restock.PlayStation 5 (Standard Edition) $499.00 FROM WALMART$499.99 FROM BEST BUY$499.99 FROM AMAZON$499.99 FROM TARGET$499.99 FROM GAMESTOPPlayStation 5 (Digital Edition)$399.00 FROM WALMART$399.99 FROM BEST BUY$399.99 FROM AMAZON$399.99 FROM TARGET$399.99 FROM GAMESTOPTips for buying the PS5A gamer sets up the new Sony Playstation PS5 at his home in Seoul after Sony launched the new console.YELIM LEE/AFP via Getty ImagesBuying the PlayStation 5 has been a struggle since release, but retailers have been making a steady stream of consoles available. If you have a preferred store, you should look into setting stock alerts with their online tools.Third-party stock-tracking websites like HotStock.io can tell you when a store last had the PlayStation 5 in stock and let you set alerts for multiple retailers. A reseller who made more than $40,000 reselling PS5 consoles last year shared more specific tips on how to find the console online.If you encounter issues while trying to check out with an online retailer, keep trying to refresh the product page to add the console and make sure the PS5 is available and in your cart. If possible, create an account with your preferred retailer and enter your payment and shipping information in advance to help the checkout process move quickly.PlayStation 5 specificationsSonyThe PlayStation 5 boasts much more powerful hardware than the PlayStation 4 and PS4 Pro. Upgrades include a solid state hard drive and a graphics card capable of ray-tracing technology.For detailed impressions, check out our full PlayStation 5 review.Disc drive: 4K Ultra HD Blu-ray drive (standard edition only)Storage: 825GB M.2 driveHDMI Out: Up to 4K resolution at 120Hz with HDMI 2.1Ports: 1x USB-C, 3x USB 3.1, 1x EthernetCPU: AMD Ryzen Zen 2, 8 cores, 16 threads at 3.5 GHzGPU: AMD Radeon RDNA 2 at 2.23 GHz, 10.3 TFlopsMemory: GDDR6 16GB, 44GB/s bandwidthPlayStation 5 accessoriesSonyThe new PlayStation 5 family of peripherals haven't been nearly as hard to find as the console itself, though they're not of much use without the main course. That said, they do complement the features of the PlayStation 5, so we've taken to the time to explain what they all do.Sony's $70 DualSense controller is a worthy successor to the PS4's popular DualShock, implementing a built-in microphone, haptic feedback for adjustable trigger tension, and advanced rumble features while also improving the battery life and adopting a USB-C charging cable.DualSense Wireless Controller for PS5$69.98 FROM AMAZON$69.98 FROM PLAYSTATION$69.98 FROM BEST BUY$59.99 FROM WOOTOriginally $69.98 | Save 14%$45.67 FROM AMAZON WAREHOUSEOriginally $57.09 | Save 20%$59.99 FROM B&H PHOTOOriginally $69.98 | Save 14%The $100 Pulse 3D headset is a direct successor to the gold and platinum wireless headsets Sony released for the PlayStation 4. The headset has an adjustable band, built-in microphone, and hardware buttons for mute, voice monitoring, and volume. While the Pulse 3D headset is worth the investment, PS5's 3D audio features will also work with any third-party headset that's been licensed for use on PS4.Sony Pulse 3D Wireless Headset$99.99 FROM AMAZON$99.99 FROM BEST BUY$99.99 FROM B&H PHOTO$99.99 FROM GAMESTOPThe $30 PlayStation media remote might look appealing, but for $30 you can find a better or cheaper universal remote to control the console. Several smart TV brands also let you control the PS5 with your standard TV remote too, so it's worth giving that a try before making this investment.Sony PlayStation 5 Media Remote$29.99 FROM GAMESTOPThe $30 DualSense charging stand can charge two controllers and makes for a nice stand alongside the PS5, but it doesn't actually charge your controllers any faster than using a regular cable.Sony PlayStation 5 DualSense Charging Station$29.99 FROM GAMESTOPThe $60 HD camera can be used for streaming in full 1080p and even has a background removal tool, but it cannot be used as a microphone like the PlayStation 4 camera. Luckily, you can just use the DualSense's built-in mic to communicate while playing.Sony PlayStation 5 HD Camera$59.99 FROM GAMESTOPPlayStation 5 exclusive games"Ratchet and Clank: Rift Apart" is Sony's latest PlayStation 5 exclusive."Ratchet & Clank: Rift Apart" / SonySony is committed to creating a full lineup of exclusive games for the PlayStation 5, repeating the same strategy that helped make the PS4 a massive success. Because there are still so many gamers waiting to upgrade to PS5, many of the games released on the new console will also work on PlayStation 4, like "Spider-Man: Miles Morales" and "Sackboy: A Big Adventure."Keep in mind that new games like "Call of Duty Black Ops: Cold War" have been designed to run better on PS5, even if they're available on the PS4. Below, we've listed all the games that require a PlayStation 5 to play, including upcoming titles that don't have release dates yet. Exclusive PS5 games available now"Godfall""Destruction AllStars""Returnal""Astro's Playroom" (pre-installed on PS5)"Ratchet & Clank: A Rift Apart""Final Fantasy VII Remake: Intergrade"Upcoming PS5 exclusive games"Horizon: Forbidden West""God of War: Ragnarok""Gran Turismo 7"For more PlayStation game recommendations, check out our complete roundup of exclusives that make the PS5 worth buying.Read the original article on Business Insider.....»»

Category: topSource: businessinsiderNov 22nd, 2021

6 Stay-at-Home ETFs Likely to Gain on Renewed Lockdown Fears

COVID-19 lockdowns in Europe once again stirred fears of further spread of infections. This raises the chances of another wave of COVID-19 in other parts of the world, which could boost the demand for stay-at-home stocks and ETFs. Nationwide COVID-19 lockdowns in Europe once again stirred fears of further spread of infections. New restrictions beyond the continent weighed on the broader U.S. market as travel restrictions have been easing slowly.This raises the chances of another wave of COVID-19 in other parts of the world.The United States may be more vulnerable in winter than many European countries, as per Jim Reid, chief economist at Deutsche Bank, as quoted on Yahoo Finance. Going by recent history, Reid said that the United States has a higher bar for economic restrictions related to COVID-19. Then again, it has a lower rate of vaccination rate than its European peers.Stay-at-home ETFs and technology ETFs should stay strong if the fears sustain. As we all know, Internet stocks are pandemic winners as these have less to do with human contact. The coronavirus scare favored    the online retailing industry as any kind of lockdown and self-imposed quarantine boost the demand for online shopping and other kinds of Internet activities.This puts the spotlight on ETFMG Video Game Tech ETF GAMR, Direxion Work From Home ETF WFH, Global X Cloud Computing ETF CLOU, VanEck Semiconductor ETF SMH and Amplify Online Retail ETF IBUY and iShares Biotechnology ETF IBB.The coronavirus-led restrictions last year resulted in an e-commerce boom and stay-at-home activities. The new restrictions are expected to lead to the same trend. As such, people will again choose to stay indoors, which in turn would boost demand for cloud computing, gaming, e-sports, streaming services as well as online shopping. Additionally, investors will continue to pile up software shares, which are apparently more insulated from the impacts of the virus.ETFs in Focus ETFMG Video Game Tech ETF The video game industry has been a winner in the ongoing health crisis. For nine months, the total consumer spending on gaming rose 12% year over year to $42.28 billion. It is impressive to observe that the video gaming industry is witnessing strong sales growth despite tough year-over-year comparisons, highlighting the strength in the space (read: Bet on These Video Gaming ETFs to Gain From Surging Sales).The underlying EEFund Video Game Tech Index tracks companies actively involved in the electronic gaming industry, including the entertainment, education and simulation segments. ETFMG Video Game Tech ETF charges 75 bps in fees.Global X Cloud Computing ETF Cloud computing and storage are expected to stay in vogue in 2021. The space has received quite a push amid the coronavirus outbreak with a vast population working from home across the globe. Considering the renewed COVID-19 fear, demand for cloud computing is set to stay robust in the coming days.The underlying Indxx Global Cloud Computing Index provides exposure to exchange-listed companies in developed and emerging markets that are positioned to benefit from the increased adoption of the cloud computing technology. The Zacks Rank #2 Global X Cloud Computing ETF charges 68 bps in fees.Direxion Work From Home ETF The underlying Solactive Remote Work Index comprises U.S.-listed securities and ADRs of companies that provide products and services in at least one of the following business segments that facilitate the ability of people to work from home: remote communications, cyber security, online project and document management, and cloud computing technologies. The Zacks ETF Rank #2 (Buy) Direxion Work From Home ETF charges 45 bps in fees.VanEck Semiconductor ETF The semiconductor space has been on a tear as the pandemic has bolstered the demand for chips, leading to the worst global shortage in many years. Corporate earnings from the likes of Nvidia (NVDA), Qualcomm (QCOM) and Advanced Micro Devices (AMD) have been upbeat. The recent upsurge in the electric vehicle industry and increased awareness for clean energy have also made the semiconductor industry an investors’ darling (read: 4 ETF Areas Near One-Year High With More Room for Growth).The underlying MVIS US Listed Semiconductor 25 Index tracks the overall performance of companies involved in semiconductor production and equipment. The Zacks Rank #1 (Strong Buy) VanEck Semiconductor ETF charges 35 bps in fees.Amplify Online Retail ETF According to the National Retail Federation (“NRF”), holiday season sales in 2021 are projected to surpass all existing records during November and December and rise 8.5-10.5% year over year to between $843.4 billion and $859 billion. Holiday sales increased 8.2% in 2020 to hit a record of $770 billion. The NRF projects online and other non-store sales increase of 11% to 15% to between $218.3 billion and $226 billion compared with $196.7 billion in 2020.The underlying EQM Online Retail Index utilizes a rules-based methodology to select a globally diverse group of companies with 70% or more of revenues from online and virtual sales. Amplify Online Retail ETF charges 65 bps in fees.iShares Biotechnology ETFWith the spread of COVID-19 resuming all over again, all focus will shift to the booster shots of vaccines and antiviral therapies. Hence, iShares Biotechnology ETF, which has considerable exposure to Moderna, should prevail.The underlying ICE Biotechnology Index contains securities of NASDAQ-listed companies that are classified as either biotechnology or pharmaceuticals. iShares Biotechnology ETF charges 45 bps in fees. Want key ETF info delivered straight to your inbox? Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week.Get it 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 iShares Biotechnology ETF (IBB): ETF Research Reports VanEck Semiconductor ETF (SMH): ETF Research Reports Amplify Online Retail ETF (IBUY): ETF Research Reports Wedbush ETFMG Video Game Tech ETF (GAMR): ETF Research Reports Global X Cloud Computing ETF (CLOU): ETF Research Reports Direxion Work From Home ETF (WFH): ETF Research Reports To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksNov 22nd, 2021

Futures Trade Near All Time High As Traders Shrug At Inflation, Covid Concerns

Futures Trade Near All Time High As Traders Shrug At Inflation, Covid Concerns US equity futures and European markets started the Thanksgiving week on an upbeat note as investors set aside fear of surging inflation and focused on a pickup in M&A activity while China signaled possible easing measures. The euphoria which lifted S&P futures up some 0.5% overnight and just shy of all time highs ended abruptly and futures reversed after German Chancellor Angela Merkel said the Covid situation in the country is worse than anything so far and tighter curbs are needed. At 730 a.m. ET, Dow e-minis were up 95 points, or 0.26%. S&P 500 e-minis were up 12.25 points, or 0.26% and Nasdaq 100 e-minis were up 58.75 points, or 0.357%. U.S. stocks trade near record levels, outpacing the rest of the world, as investors see few alternatives amid rising inflation and a persistent pandemic that undermines global recovery. Concerns about high valuations and the potential for the economy to run too hot on the back of loose monetary and fiscal policies have interrupted, but not stopped the rally. In other words, as Bloomberg puts it "bears are winning the argument, bulls are winning in the market" while Nasdaq futures hit another record high as demand for technology stocks remained strong. “Based on historical data, the Thanksgiving week is a strong week for U.S. equities,” Ipek Ozkardeskaya, a senior analyst at Swissquote, wrote in a note. “Black Friday sales will be closely watched. The good news is, people still have money to spend, even though they get less goods and services in exchange of what’s spent.” In premarket moves, heavyweights, including most FAANG majors, rose in premarket trade. Vonage Holdings Corp. jumped 26% in premarket trading after Ericsson agreed to buy it. Telecom Italia SpA jumped as much as 30% in Europe after KKR offered to buy it for $12 billion. Energy stocks recovered slightly from last week's losses, although anticipation of several economic readings this week kept gains in check. Bank stocks rose in premarket trading as the U.S. 10-year Treasury yield climbed for the first time in three sessions to about 1.58%. S&P 500 futures gain as much as 0.5% on Monday morning. Tesla gained 2.8% after Chief Executive Elon Musk tweeted that Model S Plaid will "probably" be coming to China around March. Activision Blizzard (ATVI.O) slipped 1.1% after a media report that the video game publisher's top boss, Bobby Kotick, would consider leaving if he cannot quickly fix culture problems. Travel and energy stocks, which were among the worst performers last week, also marked small gains before the open. Here is a list of the other notable premarket movers: Astra Space (ASTR US) shares surge 33% in premarket trading after the company said its rocket reached orbit. Aurora Innovation (AUR US) falls 8% in premarket, after soaring 71% last week amid a surge in popularity for self-driving technology companies among retail traders. Chinese electric-carmaker Xpeng (XPEV US) rises as much as 2.8% premarket after co. unveils a large sports-utility vehicle pitted more directly against Tesla’s Model Y and Nio’s ES series. Stocks of other EV makers are mixed. Monster Beverage (MNST US)., the maker of energy drinks, is exploring a combination with Corona brewer Constellation Brands (STZ US), according to people familiar with the matter. CASI Pharma (CASI US) jumped 17% in postmarket trading after CEO Wei-Wu He disclosed the purchase of 400,000 shares in a regulatory filing. Along with an eye on the Fed's plans for tightening policy, investors are also watching for an announcement from Joe Biden on his pick for the next Fed chair. Powell was supposed to make his decision by the weekend but has since delayed it repeatedly. Investors expect current chair Jerome Powell to stay on for another term, although Fed Governor Lael Brainard is also seen as a candidate for the position. “Bringing the most dovish of the doves wouldn’t guarantee a longer period of zero rates,” Ozkardeskaya wrote. “If the decisions are based on economic fundamentals, the economy is calling for a rate hike. And it’s calling for it quite soon.” The Stoxx 600 trimmed gains after German Chancellor Angela Merkel called for tighter Covid-19 restrictions. European telecom shares surged after KKR’s offer to buy Telecom Italia for about $12 billion, which boosted sentiment about M&A in the sector. The Stoxx 600 Telecommunications Index gained as much as 1.6%, the best-performing sector gauge for the region: Telefonica +4.8%, Infrastrutture Wireless Italiane +4%, KPN +2.7%. Meanwhile, telecom equipment stock Ericsson underperforms the rest of the SXKP index, falling as much as 4.9% after a deal to buy U.S. cloud communication provider Vonage; Danske Bank says the price is “quite steep”. Earlier in the session, Asian stocks fell as Covid-19 resurgences in Europe triggered risk-off sentiment across markets amid weaker oil prices, a strong U.S. dollar and higher bond yields. The MSCI Asia Pacific Index declined 0.3%, with India’s Sensex measure slumping the most since April as Paytm’s IPO weighed on sentiment. The country’s oil giant Reliance dragged down the Asian index after scrapping a deal with Saudi Aramco, and energy and financials were the biggest sector losers in the region. Asian markets have turned softer after capping their first weekly retreat this month, following lackluster moves from economically sensitive sectors in the U.S., while investors continue to monitor earnings reports of big Chinese technology firms this week. “Some impact from the regulatory risks and dull macroeconomic conditions have shown up in several Chinese big-tech earnings and that may put investors on the sidelines as earnings season continues,” Jun Rong Yeap, a market strategist at IG Asia Pte., wrote in a note. China’s equity gauge posted a second straight day of gains after the central bank’s quarterly report indicated a shift toward easing measures to bolster the economic recovery. South Korea led gains in the region, with the Kospi adding more than 1%, helped by chipmakers Samsung Electronics and SK Hynix. Asia’s chip-related shares rose after comments from Micron Technology CEO Sanjay Mehrotra added to optimism the global shortage of semiconductors is easing. Reports of Japan earmarking $6.8 billion to bolster domestic chipmaking and Samsung planning to announce the location of its new chip plant in the U.S. also aided sentiment. Japanese stocks fluctuated after U.S. shares retreated on Friday following hawkish remarks from Federal Reserve officials. The Topix index was virtually unchanged at 2,044.16 as of 2:21 p.m. Tokyo time, while the Nikkei 225 advanced 0.1% to 29,783.92. Out of 2,180 shares in the index, 1,107 rose and 948 fell, while 125 were unchanged. “There are uncertainties surrounding the direction of U.S. monetary policy,” said Shoji Hirakawa, chief global strategist at Tokai Tokyo Research Institute Co. “The latest comments from FRB members are spurring talk that steps to taper could accelerate.” Australian stocks sunk as banks tumbled to almost a 4-month low. The S&P/ASX 200 index fell 0.6% to close at 7,353.10, weighed down by banks and technology stocks as the measure for financial shares finished at the lowest level since July 30.  Nickel Mines was the top performer after agreeing to expand its strategic partnership with Shanghai Decent. Flight Centre fell for a second session, ending at its lowest close since Sept. 20, as the Covid-19 situation worsens in Europe. In New Zealand, the S&P/NZX 50 index fell 1% to 12,607.64. In FX, the Bloomberg dollar index holds Asia’s narrow range, trading little changed on the day. AUD outperforms G-10 peers, extending Asia’s modest gains. SEK and JPY are the weakest. RUB lags in EMFX, dropping as much as 1% versus the dollar with USD/RUB on a 74-handle. According to Bloomberg, hedge funds’ bullishness toward the dollar is starting to evaporate amid speculation the U.S. currency has risen too much given the Federal Reserve remains adamant it’s in no rush to raise interest rates. Meanwhile, the euro pared modest Asia session losses to trade below $1.13, while European bond yields edged higher, led by bunds and gilts. The pound dipped after comments from Bank of England policy makers raised questions about the certainty of an interest-rate increase in December. Governor Andrew Bailey said that the risks to the U.K. economy are “two-sided” in a weekend interview. Australian dollar advanced against the kiwi on position tweaking ahead of Wednesday’s RBNZ’s rate decision, and after China’s central bank removed sticking with “normal monetary policy” from its policy outlook. Yen declines as speculation China will steer toward more accommodative policy damps the currency’s haven appeal. Hungary’s forint tumbled to a record low against the euro as back-to-back interest rate increases failed to shield it during a rapidly deteriorating pandemic and a flight to safer assets. In commodities, crude futures drifted higher. WTI rises 0.3% near $76.20, Brent regains at $79-handle. Spot gold has a quiet session trading near $1,844/oz. Base metal are mixed: LME copper, tin and zinc post small losses; lead and nickel are in the green Looking at today's calendar, we get the October Chicago Fed national activity index, existing home sales data, and the Euro Area advance November consumer confidence. Zoom is among the companies reporting earnings. Market Snapshot S&P 500 futures up 0.3% to 4,710.75 STOXX Europe 600 up 0.3% to 487.45 German 10Y yield little changed at -0.34% Euro little changed at $1.1283 MXAP down 0.2% to 198.88 MXAPJ down 0.2% to 647.20 Nikkei little changed at 29,774.11 Topix little changed at 2,042.82 Hang Seng Index down 0.4% to 24,951.34 Shanghai Composite up 0.6% to 3,582.08 Sensex down 2.0% to 58,450.84 Australia S&P/ASX 200 down 0.6% to 7,353.08 Kospi up 1.4% to 3,013.25 Brent Futures up 0.4% to $79.22/bbl Gold spot little changed at $1,846.10 U.S. Dollar Index also little changed at 96.08 Top Overnight News from Bloomberg Negotiators hammering out details of a transformative new global corporate tax regime are shaping the deal to maximize its chance of winning acceptance in the U.S., whose companies face the biggest impact from the overhaul The U.S. has shared intelligence including maps with European allies that shows a buildup of Russian troops and artillery to prepare for a rapid, large-scale push into Ukraine from multiple locations if President Vladimir Putin decided to invade, according to people familiar with the conversations. The ruble slid to the weakest since August and the hryvnia fell With investors ramping up expectations for the Federal Reserve and other developed-market central banks to tighten policy, the likes of the Brazilian real and Hungarian forint have been weighed down by inflation and political concerns even as local officials pushed up borrowing costs. The Chinese yuan, Taiwanese dollar and Russian ruble have been among the few to stand their ground An organization formed by key participants in China’s currency market urged banks to limit speculative foreign-exchange trading after the yuan climbed to a six-year high versus peers The Avalanche cryptocurrency has surged in the past several days, taking it briefly into the top 10 by market value and surpassing Dogecoin and Shiba Inu, after a deal related to improvement of U.S. disaster-relief funding A more detailed breakdown of overnight news courtesy of Newsquawk Asia-Pac stocks traded mixed following last Friday's mostly negative performance stateside, where risk appetite was dampened by concerns of a fourth COVID wave in Europe and recent hawkish Fed rhetoric. Weekend newsflow was light and the mood was tentative heading into this week's risk events including FOMC minutes and US GDP data before the Thanksgiving holiday. The ASX 200 (-0.6%) was subdued with declines led by weakness in gold miners and the energy sector. The Nikkei 225 (+0.1%) was lacklustre after last week’s inflows into the JPY but with downside eventually reversed as the currency faded some of the gains and following the recent cabinet approval of the stimulus spending. The KOSPI (+1.4%) outperformed and reclaimed the 3k level with shares in index heavyweight Samsung Electronics rallying as its de facto leader tours the US which spurred hopes the Co. could deploy its USD 100bln cash pile. The Hang Seng (-0.4%) and Shanghai Comp. (+0.6%) diverged with the mainland kept afloat after the PBoC conducted a mild liquidity injection and maintained its Loan Prime Rate for a 19th consecutive month as expected, although Hong Kong was pressured by losses in energy and cautiousness among developers, as well as the recent announcement of increased constituents in the local benchmark. Finally, 10yr JGBs eked marginal gains amid the cautious risk tone in Asia and following firmer demand at the enhanced liquidity auction for 2yr-20yr JGBs, but with upside capped as T-note futures continued to fade Friday’s early gains that were fuelled by the COVID-19 concerns in Europe before the advances were later halted by hawkish Fed rhetoric calling for a discussion on speeding up the tapering at next month’s meeting. Top Asian News China Blocks Peng Shuai News as It Seeks to Reassure World China FX Panel Urges Banks to Cap Speculation as Yuan Surges Paytm Founder Compares Himself to Musk After Historic IPO Flop China Tech Stocks Are Nearing Inflection Point, UBS GWM Says European cash bourses kicked off the new trading week with mild gains (Euro Stoxx 50 +0.3%; Stoxx 600 +0.3%) following a mixed APAC handover. Some have been attributing the mild gains across Europe in the context of the different approaches of the Fed and ECB, with the latter expected to remain dovish as the former moves tighter, while COVID lockdowns will restrict economic activity. News flow in the European morning has however been sparse, as participants look ahead to FOMC Minutes, Flash PMIs and US GDP ahead of the Thanksgiving holiday (full Newsquawk Desk Schedule on the headline feed) alongside the Fed Chair update from President Biden and a speech from him on the economy. US equity futures see modestly more pronounced gains, with the more cyclically-exposed RTY (+0.6%) performing better than then NQ (+0.4%), ES (+0.4%) and YM (+0.4%). Since the European cash open, the initial mildly positive momentum has somewhat waned across European cash and futures, with the region now conforming to a more mixed picture. Spain's IBEX (+0.7%) is the clear regional outperforming, aided by index heavyweight Telefonica (+5.0%), which benefits from the sectorial boost received by a couple of major M&A updates. Firstly, Telecom Italia (+22%) gapped higher at the open after KKR presented a EUR 0.505/shr offer for Telecom Italia. The offer presents a ~45% premium on Friday's close. Second, Ericsson (-3.5%) made a bid to acquire American publicly held business cloud communications provider Vonage in a deal worth USD 6.2bln. As things stand, the Telecom sector is the clear outperformer, closely followed by banks amid a revival in yields. The other end of the spectrum sees Travel & Leisure back at the foot of the bunch as COVID fears in Europe mount. In terms of individual movers, Vestas Wind Systems (-2.0%) was hit as a cyber incident that impacted parts of its internal IT structure and data has been compromised. Looking ahead, it’s worth noting that volume will likely be more muted towards the latter half of the week on account of the Thanksgiving holiday. Top European News Scholz Closer to German Chancellery as Cabinet Takes Shape Austria Back in Lockdown Ahead of Mandatory Vaccine Policy Energy Crunch Drives Carbon to Record as Europe Burns More Coal BP Goes on Hydrogen Hiring Spree in Bid for 10% Market Share In FX, the Antipodean Dollars are outperforming at the start of the new week on specific supportive factors, like a bounce in the price of iron ore and a further re-opening from pandemic restrictions in both Australia and New Zealand, while the REINZ shadow board is ‘overwhelmingly’ behind another RBNZ rate hike this week. Aud/Usd is holding around 0.7250 and Nzd/Usd is hovering circa 0.7000 as the Aud/Nzd cross pivots 1.0350 in the run up to flash Aussie PMIs and NZ retail sales. DXY - Aussie and Kiwi strength aside, the Greenback retains a solid underlying bid on safe haven and increasingly hawkish Fed grounds after a run of recent much better than expected US data. In index terms, a base just above 96.000 provides a platform to retest last week’s peaks at 96.245 and 96.266 vs 96.223 so far, but Monday’s agenda may not give bulls much in the way of encouragement via data with only existing home sales scheduled. Instead, the Buck could derive more impetus from Treasuries given front-loaded supply ahead of Thanksgiving in the form of Usd 58 bn 2 year and Usd 59 bn 5 year notes. CHF/CAD/EUR/GBP/JPY - All narrowly mixed against their US rival, as the Franc keeps its head above 0.9300 and meanders between 1.0485-61 vs the Euro amidst some signs of official intervention from a rise in weekly Swiss sight deposits at domestic banks. Meanwhile, the Loonie has some leverage from a mild rebound in crude prices to pare declines from sub-1.2650 and should glean support into 1.2700 from 1 bn option expiries at 1.2685 on any further risk aversion or fallout in WTI. Conversely, 1 bn option expiry interest from 1.1300-05 could scupper Euro recoveries from Friday’s new y-t-d low around 1.1250 against the backdrop of ongoing COVID-19 contagion and pre-ECB speakers plus preliminary Eurozone consumer confidence. Elsewhere, the Pound is weighing up BoE tightening prospects and the impact of no breakthrough between the UK and EU on NI Protocol as Cable and Eur/Gbp straddle the 1.3435-40 zone and 0.8400 respectively, while the Yen has unwound more of its safe haven premium within a 114.27-113.91 range eyeing UST yields in relation to JGBs alongside overall risk sentiment. SCANDI/EM - The Nok is deriving some traction from Brent back over Usd 79/brl, but geopolitical concerns are preventing the Rub from benefiting and the Mxn is also on a weaker footing along with most EM currencies. However, the Try is striving to draw a line in the sand irrespective of a marked deterioration in Turkish consumer sentiment and the Cnh/Cny are holding up well regardless of a softer PBoC fix for the onshore unit as LPRs were unchanged yet again and China’s FX regulator told banks to limit Yuan spec trades. In CEE, the Pln has plunged on diplomatic strains between Poland and the EU, the Huf has depreciated to all time lows on virus fears and the Czk has been hampered by CNB’s Holub downplaying the chances of more big tightening surprises such as the aggressive hike last time. In commodities, WTI and Brent front month futures see some consolidation following Friday’s slide in prices. In terms of the fundamentals, the demand side of the equations continues to be threatened by the fourth wave of COVID, namely in the European nations that have not had a successful vaccine rollout. As a reminder, Austria is in a 20-day nationwide lockdown as of today, whilst Germany, Belgium and the Netherlands see tighter restrictions, with the latter two also experiencing COVID-related social unrest over the weekend. The European Commission will on Wednesday issue a set of new recommendations to its member states on non-essential travel, a senior EU diplomat said, which will be watched for activity and jet fuel demand. Over to the supply side, There were weekend reports that Japan and the US are planning a joint announcement regarding the SPR release, although a key Japanese official later noted there was no fixed plan yet on releasing reserves. Japanese PM Kishida confirmed that they are considering releasing oil reserves to curb prices. Meanwhile, Iranian nuclear talks are regaining focus as negotiations are poised to resume on the 29th of November – it is likely we’ll see officials telegraph their stances heading into the meeting. Eyes will be on whether the US offers an olive branch as Tehran stands firm. Elsewhere, the next OPEC+ meeting is also looming, but against the backdrop of lower prices, COVID risk and SPR releases, it is difficult to see a scenario where OPEC+ will be more hawkish than dovish. WTI and Brent Jan trade on either side of USD 76/bbl and USD 79/bbl respectively and within relatively narrow bands. Spot gold and silver meanwhile see a mild divergence, with the yellow metal constrained by resistance in the USD 1,850/oz area, whilst spot silver rebounded off support at USD 24.50/oz. Finally, base metals are relatively mixed with no standout performers to point out. LME copper is flat but holds onto USD 9,500+/t status. US Event Calendar 8:30am: Oct. Chicago Fed Nat Activity Index, est. 0.10, prior -0.13 10am: Oct. Existing Home Sales MoM, est. -1.8%, prior 7.0% 10am: Oct. Home Resales with Condos, est. 6.18m, prior 6.29m DB's Jim Reid concludes the overnight wrap This morning we’ve just published our 2022 credit strategy outlook. 2021 has been one of the lowest vol years for credit on record but we think this is unlikely to last and spreads will sell-off at some point in H1 when markets reappraise how far behind the curve the Fed is. Even with covid restrictions mounting again in Europe as we go to print, we think it’s more likely that we’ll be in a “growthflationary” environment for 2022 and think overheating risks are more acute than the stagflation risk, especially in the US. Strong growth and high liquidity should mean that full year 2022 is a reasonable year for credit overall but if we’re correct there’ll be regular pockets of inflationary/interest rate concerns in the market, which we think is more likely to happen in H1. At the H1 wides, we could see spreads widen as much as 30-40bps in IG and 120-160bps in HY which is consistent with typical mid-cycle ranges through history. We do expect this to mostly retrace in H2 as markets recover from the shock and growth remains decent and liquidity still high. However, with the potential for a shift in the narrative to potential late-cycle dynamics, we think spreads will close 2022 slightly wider than they are today. We will be watching the yield curve closely through the year for clues as to how the cycle will evolve into 2023. This has the ability to move our YE 22 forecasts in both directions as the year progresses. This week will be heavily compressed given Thanksgiving on Thursday. The highlight though will be a likely choice of Fed governor before this, assuming the timetable doesn’t slip again. Overnight it’s been announced that Biden will give a speech to the American people tomorrow on the economy and prices. It’s possible the Fed Chair gets announced here and perhaps plans to release oil from the strategic reserve. We will see. Following that, Wednesday is especially busy as a pre-holiday US data dump descends upon us. We’ll see the minutes of the November 3rd FOMC meeting and earlier that day the core PCE deflator (the Fed's preferred inflation metric), Durable Goods, the UoM sentiment index (including latest inflation expectations), new home sales and jobless claims amongst a few other releases. More internationally, covid will be focus, especially in Europe as Austria enters lockdown today after the shock announcement on Friday. Germany is probably the swing factor here for sentiment in Europe so case numbers will be watched closely. Staying with Germany, there’s anticipation that a coalition agreement could be reached in Germany between the SPD, Greens and the FDP, almost two months after their federal election. Otherwise, the flash PMIs for November will be in focus, with the ECB following the Fed and releasing the minutes from their recent meeting on Thursday. As discussed at the top the most important market event this week is likely to be on the future leadership of the Federal Reserve, as it’s been widely reported that President Biden is expected to announce his choice on who’ll be the next Fed Chair by Thanksgiving on Thursday. Previous deadlines have slipped on this announcement, but time is becoming increasingly limited given the need for Senate confirmation ahead of Chair Powell’s current four-year term expiring in early February. The two names that are quite obviously in the frame are incumbent Chair Powell and Governor Brainard, but there are also a number of other positions to fill at the Fed in the coming months, with Vice Chair Clarida’s term as an FOMC governor expiring in January, Randal Quarles set to leave the Board by the end of this year, and another vacant post still unfilled. So a significant opportunity for the Biden administration to reshape the top positions at the Fed. In spite of all the speculation over the position of the Fed Chair, our US economists write in their latest Fed update (link here), that the decision is unlikely to have a material impact on the broad policy trajectory. Inflation in 2022 is likely to remain at levels that make most Fed officials uncomfortable, whilst the regional Fed presidents rotating as voters lean more hawkish next year, so there’ll be constraints to how policy could shift in a dovish direction, even if an incoming chair wanted to move things that way. Another unconfirmed but much anticipated announcement this week could come from Germany, where there’s hope that the centre-left SPD, the Greens and the liberal FDP will finally reach a coalition agreement. The general secretaries of all three parties have recently said that they hope next week will be when a deal is reached, and a deal would pave the way for the SPD’s Olaf Scholz to become chancellor at the head of a 3-party coalition. Nevertheless, there are still some hurdles to clear before then, since an agreement would mark the start of internal party approval processes. The FDP and the SPD are set to hold a party convention, whilst the Greens have announced that their members will vote on the agreement. On the virus, there is no doubt things are getting worse in Europe but it’s worth putting some of the vaccine numbers in some context. Austria (64% of total population) has a double vaccination rate that is somewhat lower than the likes of Spain (79%), Italy (74%), France (69%), the UK (69%) and Germany (68%). The UK for all its pandemic fighting faults is probably as well placed as any due to it being more advanced on the booster campaign due to an earlier vaccine start date and also due to higher natural infections. It was also a conscious decision back in the summer in the UK to flatten the peak to take load off the winter wave. So this is an area where scientists and the government may have made a calculated decision that pays off. Europe is a bit behind on boosters versus the UK but perhaps these will accelerate as more people get 6 months from their second jab, albeit a bit too late to stop some kind of winter wave. There may also be notable divergence within Europe. Countries like Italy and Spain (and to a slightly lesser extent France) that were hit hard in the initial waves have a high vaccination rate so it seems less likely they will suffer the dramatic escalation that Austria has seen. Germany is in the balance as they have had lower infection rates which unfortunately may have encouraged slightly lower vaccination rates. The irony here is that there is some correlation between early success/lower infections and lower subsequent vaccination rates. The opposite is also true - i.e. early bad outcomes but high vaccination rates. The US is another contradiction as it’s vaccination rate of 58% is very low in the developed world but it has had high levels of natural infections and has a higher intolerance for lockdowns. So tough to model all the above. Overall given that last winter we had no vaccines and this year we have very high levels of protection it seems unfathomable that we’ll have an outcome anywhere near as bad. Yes there will be selected countries where the virus will have a more severe impact but most developed countries will likely get by without lockdowns in my opinion even if the headlines aren’t always going to be pleasant. Famous last words but those are my thoughts. In light of the rising caseloads, the November flash PMIs should provide some context for how the global economy has performed into the month. We’ve already seen a deceleration in the composite PMIs for the Euro Area since the summer, so it’ll be interesting to see if that’s maintained. If anything the US data has reaccelerated in Q4 with the Atlanta Fed GDPNow series at 8.2% for the quarter after what will likely be a revised 2.2% print on Wednesday for Q3. Time will tell if Covid temporarily dampens this again. Elsewhere datawise, we’ll also get the Ifo’s latest business climate indicator for Germany on Wednesday, which has experienced a similar deceleration to other European data since the summer. The rest of the week ahead appears as usual in the day-by-day calendar at the end. Overnight in Asia stocks are mixed with the KOSPI (+1.31%) leading the pack followed by the Shanghai Composite (+0.65%) and CSI (+0.53%), while the Nikkei (-0.18%) and Hang Seng (-0.35%) are lower. Stocks in China are being boosted by optimism that the PBOC would be easing its policy stance after its quarterly monetary policy report on Friday dropped a few hints to that effect. Futures are pointing towards a positive start in the US and Europe with S&P 500 futures (+0.31%) and DAX futures (+0.14%) both in the green. Turning to last week now, rising Covid cases prompted renewed lockdown measures to varying degrees and hit risk sentiment. Countries across Europe implemented new lockdown measures and vaccine requirements to combat the latest rise in Covid cases. The standouts included Austria and Germany. Austria will start a nationwide lockdown starting today and will implement a compulsory Covid vaccine mandate from February. Germany will restrict leisure activities and access to public transportation for unvaccinated citizens and announced a plan to improve vaccination efforts. DM ten-year yields decreased following the headline. Treasury, bund, and gilt yields declined -3.8bps, -6.7bps, and -4.6bps on Friday, respectively, bringing the weekly totals to -1.3bps, -8.3bps, and -3.5bps, respectively. The broad dollar appreciated +0.54% Friday, and +0.98% over the week. Brent and WTI futures declined -2.89% and -3.68% on Friday following global demand fears, after drifting -4.27% and -5.79% lower throughout the week as headlines circulated that the US and allies were weighing whether to release strategic reserves. European equity indices declined late in the week as the renewed lockdown measures were publicized. The Stoxx 600, DAX, and CAC 40 declined -0.33%, -0.38%, and -0.42%, respectively on Friday, bringing their weekly totals to -0.14%, +0.41%, and +0.29%. The S&P 500 index was also hit ending the week +0.32% higher after declining -0.14% Friday, though weekly gains were concentrated in big technology and consumer discretionary stocks. U.S. risk markets were likely supported by the U.S. House of Representatives passing the Biden Administration’s climate and social spending bill. The bill will proceed to the Senate, where its fate lays with a few key moderate Democrats. This follows President Biden signing a physical infrastructure bill into law on Monday. On the Fed, communications from officials took a decidedly more hawkish turn on inflation dynamics, especially from dovish members. Whether the Fed decides to accelerate its asset purchase taper at the December FOMC will likely be the key focus in markets heading into the meeting. Ending the weekly wrap up with some positive Covid news: the U.S. Food and Drug Administration cleared Pfizer and Moderna booster shots for all adults. Additionally, the US will order 10 million doses of Pfizer’s Covid pill. Tyler Durden Mon, 11/22/2021 - 07:49.....»»

Category: blogSource: zerohedgeNov 22nd, 2021

US Inflation: Which Categories Have Been Hit Hardest?

US Inflation: Which Categories Have Been Hit Hardest? Prices have been going up in a number of segments of the economy in recent months, and, as Visual Capitalist's Nick Routley exposes below, the public is taking notice. One indicator of this is that search interest for the term “inflation” is higher than at any point in the past decade. Recent data from the Bureau of Labor Statistics highlights rising costs across the board, and shows that specific sectors are experiencing rapid price increases this year. Where is Inflation Hitting the Hardest? Since 1996, the Federal Reserve has oriented its monetary policy around maintaining 2% inflation annually. For the most part, U.S. inflation over the past couple of decades has typically hovered within a percentage point or two of that target. Right now, most price categories are exceeding that, some quite dramatically. Here’s how various categories of consumer spending have fared over the past 12 months:   Of these top-level categories, fuel and transportation have clearly been the hardest hit. Drilling further into the data reveals more nuanced stories as well. Below, we zoom in on five areas of consumer spending that are particularly hard-hit, how much prices have increased over the past year, and why prices are rising so fast: 1. Gasoline (+50%) Consumers are reeling as prices at the gas pump are up more than a dollar per gallon over the previous year. Simply put, rising demand and constrained global supply are resulting in higher prices. Even as prices have risen, U.S. oil production has seen a slow rebound from the pandemic, as American oil companies are wary of oversupplying the market. Meanwhile, President Biden has identified inflation as a “top priority”, but there are limited tools at the government’s disposal to curb rising prices. For now, Biden has urged the Federal Trade Commission to examine what role energy companies are playing in rising gas prices. 2. Natural Gas (+28%) Natural gas prices have risen for similar reasons as gasoline. Supply is slow to come back online, and oil and natural gas production in the Gulf of Mexico was adversely affected by Hurricane Ida in September. Compared to the previous winter, households could see their heating bills jump as much as 54%. An estimated 60% of U.S. households heat their homes with fossil fuels, so rising prices will almost certainly have an effect on consumer spending during the holiday season. 3. Used Vehicles (+26%) The global semiconductor crunch is causing chaos in a number of industries, but the automotive industry is uniquely impacted. Modern vehicles can contain well over a thousand chips, so constrained supply has hobbled production of nearly a million vehicles in the U.S. alone. This chip shortage is having a knock-on effect on the used vehicle market, which jumped by 26% in a single year. The rental car sector is also up by nearly 40% over the same period. 4. Meats (+15%) Meat producers are facing a few headwinds, and the result is higher prices at the cash register for consumers. Transportation and fuel costs are factoring into rising prices. Constrained labor availability is also an issue for the industry, which was exacerbated by COVID-19 measures. As a top-level category, inflation is high, but in specific animal product categories, such as uncooked beef and bacon, inflation rates have reached double digits over the past 12 months. 5. Furniture and Bedding (+12%) This category is being influenced by a few factors. The spike in lumber prices along with other raw materials earlier in the year has had obvious impacts. Materials aside, actually shipping these cumbersome goods has been a challenge due to global supply chain issues such a port back-ups. How Inflation Could Influence Consumer Spending Rising prices inevitably impact the economy as consumers adjust their buying habits. According to a recent survey, 88% of Americans say they are concerned about U.S. inflation. Here are the top five areas where consumers plan to cut back on their spending:   Will Inflation Continue to Rise in 2022? Many experts believe that U.S. inflation will decelerate going into 2022, though there’s no consensus on the matter. Improved semiconductor supply and an easing of port congestion around the world could help slow inflation down if nothing goes seriously wrong. That said, if the last few years are any indication, unexpected events could shift the situation at any time. For the near term, consumers will need to adjust to the sticker shock. *  *  * Where does this data come from? Source: U.S. Bureau of Labor Statistics – Consumer Price Index (November 10, 2021)Data Note: The Consumer Price Index (CPI) measures the change in prices paid by consumers for goods and services. The CPI reflects spending patterns for each of two population groups: all urban consumers and urban wage earners and clerical workers, which represent about 93% of the total U.S. population. CPIs are based on prices of food, clothing, shelter, fuels, transportation, doctors’ and dentists’ services, drugs, and other goods and services that people buy for day-to-day living. Tyler Durden Sat, 11/20/2021 - 22:00.....»»

Category: worldSource: nytNov 20th, 2021

I drove a 3-wheeled, one-seater electric car on a mini road trip through Southern California and I"m convinced it could change how we get from A-to-B

The SOLO is a surprisingly delightful machine. I found myself preferring this one-person EV over my daily driver for short trips and errands. The ElectraMeccanica SOLO EV.Bryan Logan/Business Insider The ElectraMeccanica SOLO EV is an electric car that can travel 100 miles on a full charge. Yes, it's a one-seater with three wheels, but it has the creature comforts of a full-sized vehicle. It's a fun-to-drive ride around town, and perfectly capable of longer highway jaunts. Lately, I've been thinking about choices. In the US, there's no shortage of options when you're shopping for a car. You can find an unlimited inventory of four-door sedans, coupes, wagons, trucks, vans — and an overabundance of crossovers and SUVs and (crossover SUV coupes), supply chain crisis and semiconductor chip shortage notwithstanding.But I just wonder if it always makes sense to have four wheels and several empty seats when I'm on the road. What about an in-between car for when I just need to run a quick errand, pick up food, or simply drive solo to my destination? And what if that in-between car could be a clean-energy vehicle I could plug into a wall outlet in my garage?I had a couple weeks in October to think about those questions when I got the keys to a SOLO EV, a three-wheeled, one-seater electric car from ElectraMeccanica.The ElectraMeccanica SOLO EV.Bryan Logan/Business InsiderSo, let's get the obvious out of the way: yes, the SOLO EV looks quirky. People often stopped to take pictures of it as it sat in the driveway. One person jokingly asked: "Where's the rest of it?"The ElectraMeccanica SOLO EV.Bryan Logan/Business InsiderBut the more I zipped around Los Angeles in it during the warm early days of fall, the more I wanted to drive. The comfortable, well-bolstered seat, air-conditioning, and Bluetooth audio made the SOLO EV feel like my own personal rocket. It quite easily gets you to an 80 mile-per-hour top speed, which I found to be plenty for the highway. "We've been working to really, truly tune into the personal transportation needs of our customers." That's Kevin Pavlov, the CEO of ElectraMeccanica. He and the company's chief financial officer, Bal Bhullar, sat down with me at an October delivery event where early reservation holders drove away in their own SOLO EVs.Who really needs a one-seater electric car though? It's a fair question. Pavlov said he's confident there is a sizable market for the SOLO, be it as a fleet vehicle for last-mile deliveries, for college campuses, and beyond. "I think the market's going to keep telling us where the niches go and that provides us the time to continue to make more personalized answers," he said.The ElectraMeccanica SOLO EV.Bryan Logan/Business InsiderWe're in the early aughts of an automotive revolution right now. Battery electric vehicles are becoming more popular as automakers introduce new models and governments make plans to phase out internal combustion engines over the next decade. Where you once could count the number of available electric cars on one hand, there are now dozens available, and many more in the pipeline. And they're getting less expensive, too. The SOLO EV can be had for $18,500.Thankfully, all of the talk about range anxiety in those early days of the electric car is pretty much moot now. Most electric vehicles can travel at least 200 miles on a full charge.Range anxiety is overrated, anywayAfter a few short trips close to home in the SOLO EV, I started to wonder how far I could stretch its 100-mile range. On the surface it sounds paltry, but considering drivers will mostly use this for short commutes and jaunts about town, 100 miles is truly more than enough.Pavlov summed it up poetically: "Some people will drive 10 miles, some will go 30 miles. Other people want to drive it to work. And some will drive this car to go find themselves."And that's when I had an idea. I thought about the very first car review I did for Business Insider back in 2015 when I drove what was then the brand-new Volvo XC90 from LA to San Francisco on one tank of gas, and thought I'd try for a long-ish trip in the SOLO EV. Not really to find myself, but to prove that range anxiety is indeed overrated.So I planned to take the SOLO eastward, from LA to the high desert, a roughly 75-mile, one-way drive.Status at the start of the trip: 99% charge.The ElectraMeccanica SOLO EV.Bryan Logan/Business InsiderThe long and short of it is, this electric three-wheeler proved itself to be a fun, capable and versatile ride. I cruised comfortably to the desert, A/C flowing, music playing, in the glorious solitude of my personal battery-powered coach.I pulled up to a drive-thru for lunch with about 26 miles of range to spare.The ElectraMeccanica SOLO EV.Bryan Logan/Business InsiderGreat news for me since the ChargePoint location I planned to visit was just another three miles away.The ElectraMeccanica SOLO EV.Bryan Logan/Business InsiderOnce I arrived, I walked away to enjoy my lunch and visit with family. A little more than two hours later, I returned to find the SOLO EV had regained 90% of its battery charge, more than enough for the 75-mile trip back home.The ElectraMeccanica SOLO EV.Bryan Logan/Business InsiderMinimalist drivingIn a world of automobiles that seem larger and faster than ever, it's nice to slip into something that's anti-all of that. The SOLO EV is large enough (even for my 6-foot-2-inch frame) and quick enough to scoot past gasoline-powered vehicles from a stop, thanks to the instant torque you get from the electric motor.The ElectraMeccanica SOLO EV.Bryan Logan/Business InsiderAnd perhaps that idea of "just enough" is indeed suitable for this segment of the micromobility space. All the better if it helps preserve our environment.Read the original article on Business Insider.....»»

Category: topSource: businessinsiderNov 20th, 2021