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Deck the halls: Best bets for Cincinnati"s performing arts this holiday season

Last year, the unthinkable happened when local holiday performances were canceled due to Covid-19. Finally, theaters have reopened, and Cincinnati’s most beloved arts institutions can’t wait to invite you back.  Though the calendar isn’t as packed as it was pre-pandemic, there is still plenty to see to get you in the holiday spirit. This year, the Cincinnati Pops is back onstage in Music Hall with six shows over two weekends as well as a free digital livestream. Don’t miss Cincinnati Ballet’s….....»»

Category: topSource: bizjournalsNov 25th, 2021

These are your best bets for Cincinnati performing arts this holiday season: PHOTOS

Cincinnati has rich traditions in the performing arts, and there’s no better time than the holiday season to sample them with family and friends. Many favorites, such as “The Nutcracker,” Holiday Pops and “A Christmas Carol,” return, as t.....»»

Category: topSource: bizjournalsNov 23rd, 2018

5 Tech/Internet ETFs to Buy on Cyber Monday

Tech ETFs appear to be a safe bet currently due to the double tailwind of Cyber Monday and the fear of Omicron strain of coronavirus. Tech ETFs appear to be a safe bet currently due to the double tailwind of Cyber Monday and the fear of Omicron strain of coronavirus. While fears of the Omicron variant of COVID-19 may cause higher demand for the tech stocks as these are the winning ones amid the stay-at-home trend, Cyber Monday has grabbed maximum consumer attention in the recent past as "the preferred day for deals."The National Retail Federation said about 2 million more people than last year are expected to fill their shopping cart from Thanksgiving Day through Cyber Monday this year. Cyber Week (Thanksgiving through Cyber Monday) is expected to drive $36 billion in online spending — 17% of the entire holiday season, per Adobe.Adobe projects that Cyber Monday will remain the biggest day of the year at $11.3 billion in sales (up 4% year over year). According to Deloitte’s 2021 Holiday Retail Survey, 34% of respondents plan to shop on Cyber Monday this year, up 29% year over year, as quoted on street.com.This puts the spotlight on ProShares Online Retail ETF ONLN, Invesco NASDAQ Internet ETF PNQI, Technology Select Sector SPDR Fund XLK, Global X Cloud Computing ETF Global X Cloud Computing ETF CLOU and Wedbush ETFMG Video Game Tech ETF GAMR.Cyber Monday 2021 Deals Retailers have started offering the best end-of-year discounts on laptops, tablets, phones, wearables and more. The Apple Watch deals have been pretty lucrative, with discounts available on the all-new Apple Watch Series 7, per market watchers.  There are Cyber Monday deals on Microsoft Surface.At $75 off, the Amazon's Fire HD 10 tablet is one of the lucrative offers. Also, at $45, the Fire HD 8 is at its lowest price ever. Amazon is offering the M1 MacBook Air laptop at a discount of $100. Dell's Cyber Monday sale cuts up to 45% off Dell and Alienware monitors. Buy Now Pay Later (BNPL) is an emerging and key consumer trend, which is fueling retail sales. Adobe expects over $4 trillionto be spent globally in all of 2021 — marking a key achievement for e-commerce. Against this backdrop, below we highlight a few ETFs that are great bets in the current scenario.ProShares Online Retail ETFThe udunderlying ProShares Online Retail Index is a specialized retail index that tracks retailers that principally sell online or through other non-store channels. Amazon.com takes about 26.1% of ONLN.Wedbush ETFMG Video Game Tech ETFVideo games are among the top toys’ category for holiday 2021. The underlying EEFund Video Game Tech Index of GAMR tracks companies actively involved in the electronic gaming industry, including the entertainment, education and simulation segments.Technology Select Sector SPDR FundApple takes about 22% of Technology Select Sector SPDR Fund. Apple’s products are always hot in the holiday season. Microsoft also takes 22.3% of XLK. Microsoft’s Xbox is another hot pick on Cyber Monday. The underlying Technology Select Sector Index includes companies from the following industries: computers & peripherals; software; diversified telecommunication services; communications equipment; semiconductor & semiconductor equipment; internet software & services; IT services; wireless telecommunication services; electronic equipment & instruments; and office electronics.  Invesco NASDAQ Internet ETFThe underlying Nasdaq CTA Internet Index is a modified market-capitalization weighted index designed to track the performance of the largest & most liquid U.S.-listed companies engaged in internet-related businesses & that are listed on one of the three major U.S. stock exchanges. Invesco NASDAQ Internet ETF charges 60 bps in fees.Global X Cloud Computing ETFThe 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 cloud computing technology. CLOU charges 68 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 Technology Select Sector SPDR ETF (XLK): ETF Research Reports Invesco NASDAQ Internet ETF (PNQI): ETF Research Reports Wedbush ETFMG Video Game Tech ETF (GAMR): ETF Research Reports ProShares Online Retail ETF (ONLN): ETF Research Reports Global X Cloud Computing ETF (CLOU): ETF Research Reports To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksNov 29th, 2021

4 Funds to Buy as the Omicron COVID-19 Variant Rattles Markets

The rise in new COVID-19 cases, restrictions and various measures taken to curtail the spread might impact economic recovery again. The new omicron variant of COVID 19 has rattled markets, hampering Black Friday sales across the globe. Omicron, now a “variant of concern” according to the World Health Organization (WHO), was first detected in South Africa and is responsible for the recent spike in cases across Europe. As this highly mutated variant rampaged the reopening and economic recovery efforts, investors should invest in mutual funds that incorporate vaccine makers, gold, real estate and utilities for safety. Fidelity Select Utilities Portfolio FSUTX, Fidelity Select Health Care Portfolio FSPHX, Franklin Gold and Precious Metals Fund Class A FKRCX and Fidelity Real Estate Investment Portfolio FRESX are the funds to add to your list now.The Dow, the S&P 500 and the Nasdaq Composite declined at least 2% in the three-hour-less trading day of Nov 26. Black Friday, a day when consumers are typically shopping for bargains, marks the beginning of the holiday season. However, sales took a hit on the alarming news from public health officials. The B.1.1.529 variant, symbolized by the Greek letter omicron, has undergone numerous mutations (more than 30) to the spike protein. The WHO has already issued warnings across Europe and Central Asia. Among the European companies, Austria has imposed at least a 10-day-long national lockdown to fight the resurgence. The Czech Republic has declared a 30-day emergency and announced several new restrictions. The United Kingdom has also banned flights from South Africa and five neighboring countries like Namibia, Lesotho, Eswatini, Zimbabwe and Botswana. Japan and Israel have closed their borders for foreigners, while Australia will review its plans to reopen borders to skilled migrants and students from Dec 1.Among the rise in new COVID-19 cases, the WHO has informed that it could take "days to several weeks" to understand the severity of the variant and countries have to impose restrictions to prevent the spread. Restrictions and various measures taken to curtail the spread might impact economic recovery again. Hence, investors can limit investment to healthcare, gold, real estate and utilities mutual funds for now.4 Mutual Fund PicksGiven the dreary scenario, we have shortlisted four funds from the utility, healthcare, gold and consumer staples sectors that are considered safe bets. These mutual funds carry a Zacks Mutual Fund Rank #1 (Strong Buy) and the minimum initial investment for these funds is within $5,000.We expect these funds to outperform peers in the future. Remember, the goal of the Zacks Mutual Fund Rank is to guide investors to identify potential winners and losers. Unlike most fund-rating systems, the Zacks Mutual Fund Rank is not just focused on past performance but also the likely future success of the fund.The question here is why should investors consider mutual funds? Reduced transaction costs and portfolio diversification without several commission charges associated with stock purchases are primarily why one should be parking money in mutual funds (read more: Mutual Funds: Advantages, Disadvantages, and How They Make Investors Money).Fidelity Select Utilities Portfolio aims for capital appreciation. This non-diversified fund invests a majority of assets in common stocks of companies primarily engaged in the utilities industry and companies generating most of their revenues from utility operations.This Zacks Sector – Utilities has a history of positive total returns for more than 10 years. Specifically, Fidelity Select Utilities Portfolio has returned 9.9% and 11.4% in the past three and five-year period, respectively. To see how this fund performed compared to its category, and other 1 and 2 Ranked Mutual Funds, please click here.Fidelity Select Utilities Portfolio has an annual expense ratio of 0.76%, which is below the category average of 0.94%.Fidelity Select Health Care Portfolio fund aims for capital appreciation. This non-diversified fund invests a majority of assets in common stocks of companies principally engaged in the design, manufacture or sale of products or services used for or in connection with health care or medicine.This Zacks sector – Health product has a history of positive total returns for more than 10 years. Specifically, the fund has returned 20.2% and 19.9% over the past three and five-year period, respectively. To see how this fund performed compared in its category, and other 1 and 2 Ranked Mutual Funds, please click here.Fidelity Select Health Care Portfolio has an annual expense ratio of 0.69% versus the category average of 1.03%.Franklin Gold and Precious Metals Fund Class A aims for capital appreciation and current income is a secondary consideration. This non-diversified fund invests most assets in securities of gold and precious metals operation companies located globally.This Zacks sector - Precious Metal product has a history of positive total returns for more than 10 years. Specifically, Franklin Gold and Precious Metals Fund Class A has returned 30.1% and 7% over the past three and five-year periods, respectively. To see how this fund performed compared in its category, and other 1 and 2 Ranked Mutual Funds, please click here.Franklin Gold and Precious Metals Fund Class A has an annual expense ratio of 0.93%, below the category average of 1.17%.Fidelity Real Estate Investment Portfolio fund aims for above-average income and long-term capital growth, consistent with reasonable investment risk. This non-diversified fund invests primarily in common stocks. The majority of FRESX’s assets are invested in securities of companies principally engaged in the real estate industry and other real estate-related investments.This Zacks sector – Real Estate product has a history of positive total returns for more than 10 years. Specifically, Fidelity Real Estate Investment Portfolio has returned 13.1% and 9.2% over the past three and five years, respectively. To see how this fund performed compared to its category, and other 1 and 2 Ranked Mutual Funds, please click here.Fidelity Real Estate Investment Portfolio has an annual expense ratio of 0.74% versus the category average of 1.08%.Want key mutual fund info delivered straight to your inbox?Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing mutual funds, each week. Get it free >> Investor Alert: Legal Marijuana Looking for big gains? Now is the time to get in on a young industry primed to skyrocket from $13.5 billion in 2021 to an expected $70.6 billion by 2028. After a clean sweep of 6 election referendums in 5 states, pot is now legal in 36 states plus D.C. Federal legalization is expected soon and that could kick start an even greater bonanza for investors. Zacks Investment Research has recently closed pot stocks that have shot up as high as +147.0% You’re invited to immediately check out Zacks’ Marijuana Moneymakers: An Investor’s Guide. It features a timely Watch List of pot stocks and ETFs with exceptional growth potential.Today, Download Marijuana Moneymakers FREE >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Get Your Free (FSPHX): Fund Analysis Report Get Your Free (FRESX): Fund Analysis Report Get Your Free (FKRCX): Fund Analysis Report Get Your Free (FSUTX): Fund Analysis Report To read this article on Zacks.com click here. Zacks Investment Research 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.....»»

Category: topSource: zacksNov 29th, 2021

5 ETFs to Benefit From a Likely Record Cyber Week Sales

The National Retail Federation said about 2 million more people than last year are expected to fill their shopping cart from Thanksgiving Day through Cyber Monday this year. Just as shoppers are readying to grab the Black Friday deals, retailers have started preparing for Cyber Monday — the next big shopping event. In fact, Cyber Monday has grabbed maximum consumer attention in the recent past as "the preferred day for deals."The National Retail Federation said about 2 million more people than last year are expected to fill their shopping cart from Thanksgiving Day through Cyber Monday this year. Cyber Week (Thanksgiving through Cyber Monday) is expected to drive $36 billion in online spending — 17% of the entire holiday season, per Adobe.Adobe projects that Cyber Monday will remain the biggest day of the year at $11.3 billion in sales (up 4% year over year), with Black Friday sales likely to come in at $9.5 billion (up 5% year over year) and Thanksgiving sales of around $5.4 billion (up 6% year over year).This puts the spotlight on ProShares Online Retail ETF ONLN, Wedbush ETFMG Video Game Tech ETF GAMR, AdvisorShares Restaurant ETF EATZ, SPDR S&P Retail ETF XRT and Technology Select Sector SPDR Fund XLK.We Are Likely to See Record Cyber Week SalesAccording to Deloitte’s 2021 Holiday Retail Survey, 34% of respondents plan to shop on Cyber Monday this year, up 29% year over year, as quoted on street.com. A record $10.8 billion was shelled out online by the end of Cyber Monday 2020. Some industry experts expect new records this year with Salesforce forecasting online holiday sales reaching a record $1.2 trillion globally.Adobe released its forecast for global e-commerce sales of a record year at $910 billion with the United States making up about 23% of the total. Adobe also expects U.S. holiday sales online to hit $207 billion from Nov 1 to Dec 31, creating a new record.Buy Now Pay Later (BNPL) is an emerging and key consumer trend, which is fueling retail sales. Adobe expects over $4 trillion to be spent globally in all of 2021 — marking a key achievement for e-commerce.NRF survey revealed that clothing is the first choice of consumers and is expected to be given by 53% of shoppers, followed by gift cards at 46%, toys at 39%, books/music/movies/video games at 35% and food/candy at 31%.Spending on gift cards spending is expected to total $28.1 billion, the highest tally since $29.9 billion in 2018. Shoppers plan to buy an average three or four cards this year with an average $48.92 per card, including restaurant cards (pointed out by 32%), department store cards (26%), bank-issued gift cards (26%) and coffee shop cards (20%), per NRF.Against this backdrop, below we highlight a few ETFs that are great bets in the current scenario.ETFs in Focus ProShares Online Retail ETF The udunderlying ProShares Online Retail Index is a specialized retail index that tracks retailers that principally sell online or through other non-store channels. Amazon.com takes about 26.1% of ONLN.Wedbush ETFMG Video Game Tech ETF Video games are among the top toys’ category for holiday 2021. The underlying EEFund Video Game Tech Index of GAMR tracks companies actively involved in the electronic gaming industry, including the entertainment, education and simulation segments.AdvisorShares Restaurant ETF The AdvisorShares Restaurant ETF is an actively managed exchange-traded fund that seeks to achieve its investment objective by investing at least 80% of its net assets in securities of companies that derive at least 50% of their net revenues from the restaurant business.SPDR S&P Retail ETFSPDR S&P Retail ETF invests about 20% in apparel retail. The underlying S&P Retail Select Industry Index represents the retail sub-industry portion of the S&P TMI. The S&P TMI tracks all the U.S. common stocks listed on the NYSE, AMEX, NASDAQ National Market and NASDAQ Small Cap exchanges.Technology Select Sector SPDR Fund Apple takes about 22% of Technology Select Sector SPDR Fund. Apple’s products are always hot in the holiday season. Microsoft also takes 22.3% of XLK. Microsoft’s Xbox is another hot pick this cyber week. The underlying Technology Select Sector Index includes companies from the following industries: computers & peripherals; software; diversified telecommunication services; communications equipment; semiconductor & semiconductor equipment; internet software & services; IT services; wireless telecommunication services; electronic equipment & instruments; and office electronics.     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 Technology Select Sector SPDR ETF (XLK): ETF Research Reports SPDR S&P Retail ETF (XRT): ETF Research Reports Wedbush ETFMG Video Game Tech ETF (GAMR): ETF Research Reports ProShares Online Retail ETF (ONLN): ETF Research Reports AdvisorShares Restaurant ETF (EATZ): ETF Research Reports To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksNov 26th, 2021

4 ETF Areas Near One-Year High With More Room for Growth

Wall Street has been hovering around a record high level due to earnings strength, the ebbing pandemic, the economic reopening and the associated economic growth. Wall Street has been hovering around a record high level due to earnings strength, the ebbing pandemic, the economic reopening and the associated economic growth. But the Fed is also preparing for a policy tightening, which may curb the winning momentum of equities. Against this backdrop, we highlight four ETF areas that are currently hovering around a 52-week high level and still hold potential for a further rally.The ETFs are the likes of S&P Homebuilders SPDR XHB, S&P Semiconductor SPDR ETF XSD, DWA Consumer Cyclicals Momentum Invesco ETF PEZ and Midcap Growth ETF Vanguard VOT hailing from the investing areas — homebuilding, semiconductor, retail and mid-cap growth, respectively. Let’s take a deeper look.Homebuilding The broader housing sector appears in decent shape as homebuyers’ demand is exceeding some builders’ current capacity. D.R. Horton Inc. DHI, Beazer Homes BZH and Meritage Homes Corporation MTH beat overall this earnings reporting season.  Meanwhile, the home furnishing industry is appearing as a lucrative one.The recent volley of data points also paints a rosy picture about the industry. Existing-home sales in the United States (which makes up the main part of the whole industry) jumped 7% to a seasonally adjusted annual rate of 6.29 million units in September 2021, the strongest level in eight months.Strong demand in a still-low-rate environment has helped the S&P Homebuilders SPDR (XHB). S&P Homebuilders SPDR ETF has a Zacks Rank #2 (Buy). The upbeat operating backdrop calls for a prolonged rally in XHB.SemiconductorThe 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: Semiconductor ETFs Flying High on Slew of Q3 Earnings Beat).S&P Semiconductor SPDR ETF XSD – Zacks Rank #1 (Strong Buy)The ETF XSD holds a total of 40 stocks. Wolfspeed (3.74%), SunPower (3.49%) and Silicon Laboratories (3.38%) are the top holdings of S&P Semiconductor SPDR ETF. XSD charges 35 bps in fees.Dynamic Semiconductors Invesco ETF PSI – Zacks Rank #1NVIDIA (5.76%), KLA Corp. (5.27%) and Applied Materials (4.97%) round out the top three spots of Dynamic Semiconductors Invesco ETF. The ETF PSI charges 56 bps in fees.Consumer Discretionary/RetailMarket watchers are anticipating an impressive retail sales figure in 2021 along with a strong holiday season. The National Retail Federation expects holiday sales to grow 8.5-10.5% in November and December to $843.4-$859 billion. This is higher than last year’s growth of 8.2% and the five-year average of 4.4%. Of these, online and other non-store sales are likely to increase 11-15% to $218.3-$226.2 billion, up from $196.7 billion last year.Consumers plan to spend an average of $997.73 this year, up from $997 from last year thanks to the economic reopening. Retailers are also strongly gearing up for the start to the holiday season that is considered a busy season for many industry players. This is making funds like RTH, PEZ and FTXD impressive bets (read: 5 ETFs to Buy This Holiday Season for Gift of Good Returns).DWA Consumer Cyclicals Momentum Invesco ETF PEZ – Zacks Rank #3 (Hold)Signet Jewelers (4.43%), Domino's Pizza (4.04%) and Crocs (3.91%) round out the top three positions of PEZ. The 30-stock DWA Consumer Cyclicals Momentum Invesco ETF charges 60 bps in fees.Vaneck Retail ETF RTH – Zacks Rank #2Amazon (18.6%), Home Depot (16.4%) and Lowe’s (5.57%) are the top three holdings ofVaneck Retail ETF. RTH charges 35 bps in fees.Mid-Cap Growth The mid-cap segment offers the best of the both worlds — large caps and small caps. Notably, the smaller-cap stock has the potential to rally as the domestic economy gains steam. Moreover, smaller stocks are more undervalued. On the other hand, large caps offer safety and are the beneficiaries of global economic reopening. Since mid caps have the attributes of both segments, the following ETFs have more room to run.Midcap Growth ETF Vanguard VOT – Zacks Rank #2Vanguard Midcap Growth ETF has Dexcom, Marvell Technology and MSCI at its top three holdings. Technology (30.83%), Industrials (18.1%), Health Care (16.34%) and Consumer Discretionary (13.94%) hold the top three spots in VOT.Nushares ESG Midcap Growth ETF NUMGThe underlying TIAA ESG USA Mid-Cap Growth Index uses a rules-based methodology that provides investment exposure that generally replicates that of mid-cap growth benchmarks through a portfolio of securities that adhere to predetermined ESG, controversial business involvement and low-carbon screening criteria. Information Technology (36.65%), Health Care (19.48%), Industrials (13.52%) and Consumer Discretionary (12.20%) are the top sectors of NUMG. 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 D.R. Horton, Inc. (DHI): Free Stock Analysis Report Meritage Homes Corporation (MTH): Free Stock Analysis Report Beazer Homes USA, Inc. (BZH): Free Stock Analysis Report SPDR S&P Homebuilders ETF (XHB): ETF Research Reports VanEck Retail ETF (RTH): ETF Research Reports Invesco Dynamic Semiconductors ETF (PSI): ETF Research Reports Invesco DWA Consumer Cyclicals Momentum ETF (PEZ): ETF Research Reports SPDR S&P Semiconductor ETF (XSD): ETF Research Reports Vanguard MidCap Growth ETF (VOT): ETF Research Reports Nuveen ESG MidCap Growth ETF (NUMG): ETF Research Reports To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksNov 19th, 2021

Futures Flat Amid Fresh Inflation Jitters; Yen Tumbles To 5 Year Low

Futures Flat Amid Fresh Inflation Jitters; Yen Tumbles To 5 Year Low Price action has been generally uninspiring, with US index futures and European stocks flat after UK inflation climbed faster than expected to the highest in a decade, heaping pressure on the Bank of England to raise interest rates, while Asian markets fell as investors fretted over early rate hikes by the Federal Reserve after strong retail earnings dented the stagflation narrative.  Ten-year Treasury yields held around 1.63% and the dollar was steady. Cryptocurrencies suffered a broad selloff, while oil extended losses amid talk of a coordinated U.S.-China release of reserves to tame prices. Gold rose. At 7:30 a.m. ET, Dow e-minis were down 14 points, or 0.04%. S&P 500 e-minis were up 1.25 points, or 0.0.3% and Nasdaq 100 e-minis were up 24.75 points, or 0.15%, boosted by gains in Tesla and other electric car-makers amid growing demand for EV makers. Target Corp was the latest big-name retailer to report positive results, as it raised its annual forecasts and beat profit expectations, citing an early start in holiday shopping. But similar to Walmart, shares of the retailer fell 3.1% in premarket trade as its third-quarter margins were hit by supply-chain issues. Lowe's rose 2.2% after the home improvement chain raised its full-year sales forecast on higher demand from builders and contractors, as well as a strong U.S. housing market. Wall Street indexes had ended higher on Tuesday after data showed retail sales jumped in October, and Walmart and Home Depot both flagged strength in consumer demand going into the holiday season. While the readings showed that a rise in inflation has not stifled economic growth so far, any further gains in prices could potentially dampen an economic recovery. Indeed, even as global stocks trade near all-time highs, worries are rising that growth could be derailed by inflation, the resurgent virus, or both. The question remains whether the jump in costs will prove transitory or become a bigger challenge that forces a sharper monetary policy response, roiling both shares and bonds. The market now sees a 19% probability of a rate hike by the Fed in their March 2022 meet, up from 11.8% probability last month. “The markets are still driven by uncertainty regarding how transitory inflation is,” according to Sebastien Galy, senior macro strategist at Nordea Investment Funds. “The market is assessing the situation about inflation -- what is in the price and what is not.” On the earnings front, Baidu reported a 13% jump in sales after growth in newer businesses such as the cloud helped offset a slowdown in its main internet advertising division. Nvidia and Cisco Systems are scheduled to report results later today In premarket trading, Tesla inexplicably rose as much as 2.4% in U.S. pre-market trading, extending a bounce from the previous session after CEO Elon Musk disclosed even more stock sales. Peers Rivian and Lucid added 0.9% and 8.8%, respectively. Here are some of the biggest U.S. movers today: Electric-vehicle makers Rivian Automotive (RIVN US), Lucid (LCID US) and Canoo (GOEV US) all move higher in U.S. premarket trading on heavy volumes, extending their gains and after Rivian and Lucid notched up milestones in their market values on Tuesday. The gains for Rivian on Tuesday saw its market capitalization surpass Germany’s Volkswagen, while Lucid’s market value leapfrogged General Motors and Ford. Tesla (TSLA US) shares rise 1.3% in U.S. premarket trading, extending the bounce the EV maker saw in the prior session and after CEO Elon Musk disclosed more share sales. Visa (V US) shares slip in U.S. premarket trading after Amazon.com said it will stop accepting payments using Visa credit cards issued in the U.K. starting next year. Boeing (BA US) gains 1.9% in premarket trading after Wells Fargo upgrades the airplane maker to overweight from equal weight in a note, saying the risk-reward is now skewed positive. Citi initiates a pair trade of overweight Plug Power (PLUG US) and underweight Ballard Power Systems (BLDP US), downgrading the latter to neutral on weak sales in China and likely delay in meaningful fuel cell adoption. Ballard Power falls 3.4% in premarket trading. La-Z-Boy (LZB US) climbed 7% in postmarket trading after it reported adjusted earnings per share for the fiscal second quarter of 2022 that beat the average analyst estimate and boosted its quarterly dividend. StoneCo’s (STNE US) shares fall as much as 9% in postmarket trading Tuesday after the fintech reported a weaker-than-expected adjusted results for the third quarter. Chembio Diagnostics (CEMI US) rose 11% in extended trading after saying it submitted an Emergency Use Authorization application to the U.S FDA for its new DPP SARS-CoV-2 Antigen test. European stocks treaded water with U.S. equity futures as the worst outbreak of Covid infections since the start of the pandemic held the rally in check. In the U.K., inflation climbed faster than expected to the highest in a decade, heaping pressure on the Bank of England to raise interest rates, pressing on the FTSE 100 to lag peer markets. Asian stocks fell, halting a four-day rally, as investors factored in higher Treasury yields and the outlook for U.S. monetary policy to assess whether the region’s recent gains were excessive.   The MSCI Asia Pacific Index slid as much as 0.7%, pulling back from a two-month high reached Tuesday. The banking sector contributed the most to Wednesday’s drop as the Commonwealth Bank of Australia reported cash earnings that were below some estimates. South Korea led the region’s decline, with the Kospi falling more than 1%, weighed down by bio-pharmaceutical firms. Asia’s stocks are taking a breather from a run-up driven by expectations for earnings to improve and economies to recover from quarters of pandemic-induced weakness. The benchmark is coming off a two-week gain of 1.5%.  “Shares are correcting recent gains, although I’d say it’s not much of a correction as the drop is mild,” said Tomo Kinoshita, a global market strategist at Invesco Asset Management in Tokyo. “The relatively solid economic performances in the U.S. and Europe signal positive trends for Asian exporters,” which will support equities over the long term, he said.  U.S. stocks climbed after data showed the biggest increase in U.S. retail sales since March, while results from Walmart Inc. and Home Depot Inc. showed robust demand. The 10-year Treasury yield hit 1.64%, gaining for a fourth day. Japanese equities fell, cooling off after a four-day advance despite the yen’s drop to the lowest level against the dollar since 2017. Service providers and retailers were the biggest drags on the Topix, which dropped 0.6%. Recruit and Fast Retailing were the largest contributors to a 0.4% loss in the Nikkei 225. The yen slightly extended its decline after tumbling 0.6% against the greenback on Tuesday. The value of Japan’s exports gained 9.4% in October, the slowest pace in eight months, adding to signs that global supply constraints are still weighing on the economy. Indian stocks fell, led by banking and energy companies, as worries over economic recovery and inflation hurt investors’ sentiment. The S&P BSE Sensex fell 0.5% to 60,008.33 in Mumbai, while the NSE Nifty 50 Index declined by 0.6%. The benchmark index has now dropped for five of seven sessions and is off 3.7% its record level reached on Oct. 18. All but five of the 19 sector sub-indexes compiled by BSE Ltd. declined, led by a gauge of real estate companies.  Fitch Ratings kept a negative outlook on India’s sovereign rating, already at the lowest investment grade, citing concerns over public debt that’s the highest among similar rated emerging-market sovereigns.  While high-frequency data suggests India’s economic recovery is taking hold, central bank Governor Shaktikanta Das said at an event on Tuesday that the recovery is uneven. “Feeble global cues are weighing on sentiment,” Ajit Mishra, a strategist with Religare Broking, said in a note. He expects indexes to slide further but the pace of decline to be gradual with Nifty having support at 17,700-17,800 level. Shares of Paytm are scheduled to start trading on Thursday after the digital payment company raised $2.5b in India’s biggest initial share sale. Local markets will be closed on Friday for a holiday.  Reliance Industries contributed the most to Sensex’s decline, decreasing 2.1%. The index heavyweight has lost 5% this week, headed for the biggest weekly drop since June 27. In rates, Treasuries were steady with yields slightly richer across the curve and gilts mildly outperforming after paring early losses. Treasury yields except 20-year are richer by less than 1bp across curve with 30-year sector outperforming slightly; 10-year yields around 1.63% after rising as high as 1.647% in early Asia session. Focal points for U.S. session include 20-year bond auction -- against backdrop of Fed decision to not taper in the sector, made after last week’s poorly bid 30-year bond sale, and seven Fed speakers scheduled. The $23BN 20-year new issue at 1pm ET is first at that size after cuts announced this month; WI yield at 2.06% is 4bp richer than last month’s, which tailed the WI by 2.5bp. In Europe, gilts richen slightly across the short end, short-sterling futures fade an open drop after a hot inflation print. Peripheral spreads are marginally wider to core. In FX, the Bloomberg Dollar Spot Index drifted after earlier rising to its highest level in over a year, spurred by strong U.S. retail sales and factory output data Tuesday; the greenback traded mixed versus its Group-of-10 peers though most currencies were consolidating recent losses against the greenback. The pound reached its strongest level against the euro in nearly nine months after U.K. inflation climbed faster than expected to the highest in a decade, heaping pressure on the Bank of England to raise interest rates. The Australian dollar hit a six-week low as third quarter wage data missed the central bank’s target, prompting offshore funds to sell the currency; the three-year yield fell back under 1%. The yen declined to its lowest level in more than four years as growing wagers of quicker policy normalization in the U.S. contrasted with the outlook in Japan, where interest rates are expected to be kept low. Super-long bonds fell. Volatility broke through the recent calm in currency markets, where the cost of hedging against volatility in the euro against the dollar over the next month climbed the most since the pandemic struck in March 2020. The move comes as traders bake in bets on faster rate hikes to curb inflation. The Turkish lira extended the week’s downward move, weakening another 2% against the dollar after comments from Erdogan sent the USDTRY hitting record highs of 10.5619 The Chinese yuan advanced to its highest level since 2015 against a basket of trading partners’ currencies following the dollar’s surge. Bloomberg’s replica of the CFETS basket index rises 0.3% to 101.9571, closer to the level that triggered a shock devaluation by the PBOC in 2015, testing the central bank’s tolerance before stepping in with intervention. In commodities, crude futures dropped as the market weighs the potential for a join U.S.-China stockpile-reserve release. WTI is down more than 1%, back on a $79-handle; Brent slips back toward $81.50, trading near the middle of this week’s range. Most base metals are under pressure with LME copper down as much as 1.4%. Spot gold adds $10 near $1,860/oz. European gas surged to the highest level in a month as delays to a controversial new pipeline from Russia stoked fears of a supply shortage with winter setting in. Cryptocurrencies remained lower after a tumble, with Bitcoin steadying around the $60,000 level. Looking at the day ahead now, and data releases include October data on UK and Canadian CPI, as well as US housing starts and building permits. Central bank speakers include ECB President Lagarde and the ECB’s Schnabel, the Fed’s Williams, Bowman, Mester, Waller, Daly, Evans and Bostic, and the BoE’s Mann. Finally, the ECB will be publishing their Financial Stability Review, and earnings releases today include Nvidia, Cisco, Lowe’s and Target. Market Snapshot S&P 500 futures little changed at 4,696.00 STOXX Europe 600 up 0.1% to 489.79 MXAP down 0.5% to 200.06 MXAPJ down 0.4% to 656.01 Nikkei down 0.4% to 29,688.33 Topix down 0.6% to 2,038.34 Hang Seng Index down 0.2% to 25,650.08 Shanghai Composite up 0.4% to 3,537.37 Sensex down 0.4% to 60,064.33 Australia S&P/ASX 200 down 0.7% to 7,369.93 Kospi down 1.2% to 2,962.42 Brent Futures down 0.8% to $81.79/bbl Gold spot up 0.5% to $1,859.93 U.S. Dollar Index little changed at 95.95 German 10Y yield little changed at -0.25% Euro little changed at $1.1310 Top Overnight News from Bloomberg Bond traders are bracing for a key test Wednesday as the Treasury looks to sell its first long-dated debt since inflation worries spooked buyers at last week’s poorly received 30-year auction Increasingly stretched prices in property and financial markets, risk-taking by non-banks and elevated borrowing pose a threat to euro-area stability, the European Central Bank warned Germany is giving investors a rare chance to grab some of Europe’s safest and positive-yielding debt. The country will sell one billion euros ($1.13 billion) of its longest-dated debt at 10:30 a.m. London on Wednesday. The country’s 30-year notes are currently trading with a yield 0.09%. It’s a paltry rate, but probably the last time for a while that Germany will offer the maturity ECB Governing Council member Olli Rehn says euro- area inflation is accelerating due to increasing demand pushing up the price of energy and supply bottlenecks, according to interview in Finland’s Talouselama magazine The yuan’s advance to a six-year high versus China’s trading partners this week has investors asking how far the central bank will let the rally run. The yuan extended gains on Wednesday against a basket of 24 currencies of the nation’s trading partners, bringing it close to the level that triggered a shock devaluation by the People’s Bank of China in 2015 Turkish President Recep Tayyip Erdogan vowed to continue fighting for lower interest rates, sending a clear signal to investors a day before the central bank sets its policy. The lira weakened A more detailed look at global markets courtesy of Newsquawk Asian equity markets traded mixed and struggled to sustain the positive lead from the US where better than expected Industrial Production and Retail Sales data spurred the major indices, in which the S&P 500 reclaimed the 4,700 level and briefly approached to within four points of its all-time high. ASX 200 (-0.7%) was led lower by underperformance in the top-weighted financials sector amid weakness in the largest lender CBA despite a 20% jump in quarterly cash profit, as operating income was steady and it noted that loan margins were significantly lower. Mining related stocks also lagged in Australia due to the recent declines in global commodity prices amid the stronger USD and higher US yields. Nikkei 225 (-0.4%) retraced its opening gains after disappointing Machinery Orders and miss on Exports which grew at the slowest pace in eight months, while the KOSPI (-1.2%) suffered due to virus concerns with daily infections at the second highest on record for South Korea. Hang Seng (-0.3%) and Shanghai Comp. (+0.4%) were varied with Hong Kong dragged lower by tech stocks including NetEase post-earnings, while the mainland was choppy as markets continued to digest the recent Biden-Xi meeting that was described by President Biden as a 'good meeting' and in which they discussed the need for nuclear “strategic stability” talks. US and China also agreed to provide access to each other’s journalists, although there were also comments from Commerce Secretary Raimondo that China is not living up to phase 1 trade commitments and it was reported that China is to speed up plans to replace US and foreign tech. Finally, 10yr JGBs were flat with demand hampered following the declines in T-notes, although downside was stemmed amid the flimsy sentiment across Asia-Pac trade and with the BoJ also in the market for JPY 925bln of JGBs mostly concentrated in 1-3yr and 5-10yr maturities. Top Asian News Asia Stocks Set to Snap Four-Day Advance as Kospi Leads Decline Gold Rises as Fed Officials Feed Debate on Inflation Response Deadly Toxic Air Chokes Delhi as India Clings to Coal Power PBOC May Start Raising Rates by 10bps Every Quarter in 2022: TD European equities (Stoxx 600 +0.1%) trade with little in the way of firm direction as the Stoxx 600 lingers around its ATH printed during yesterday’s session. The handover from the APAC session was mostly a softer one after the region failed to sustain the positive lead from the US which saw the S&P 500 approach within four points of its all-time high. Stateside, US futures are just as uninspiring as their European counterparts (ES flat) ahead of another busy day of Fed speak and pre-market earnings from retail names Target (TGT) and TJX Companies (TJK) with Cisco (CSCO) and NVIDIA (NVDA) due to report after-hours. Markets still await a decision on the next Fed Chair which President Biden said will come in around four days yesterday; as it stands, PredictIt assigns a circa 65% chance of Powell winning the renomination. Sectors in Europe have a marginal positive tilt with Media names outperforming peers alongside gains in Vivendi (+1.0%) after Italian prosecutors asked a judge to drop a case against Vivendi's owner and CEO for alleged market manipulation. Travel & Leisure names are the notable underperformer amid losses in sector heavyweight Evolution Gaming (-9.6%) who account for 14% of the sector with the Co. accused of taking illegal wagers. In terms of individual movers, Siemens Healthineers (+4.6%) is one of the best performers in the region after the Co. noted that revenues are on track to grow 6-8% between 2023 and 2025. UK Banking names such as Lloyds (+1.3%) and Natwest (+1.1%) have benefitted from the favourable rate environment in the UK with today’s inflation data further cementing expectations for a move in rates by the BoE next month. Conversely, this acted as a drag on the UK homebuilder sector at the open before moves were eventually scaled back. SSE (-4.5%) underperforms after announcing a GBP 12.5bln investment to accelerate its net zero ambitions. Top European News Epstein’s Paris Apartment Listed for $14 Million, Telegraph Says Volkswagen Shares Stall as Analysts Doubt Its EV Street Cred Germany to Move Ahead With Tighter Covid Curbs Amid Record Cases U.K. Urges EU Not to Start Trade War If Brexit Deal Suspended In FX, the Greenback extended Tuesday’s post-US retail sales and ip gains to set new 2021/multi-year highs overnight when the index hit 96.266 and several Dollar pairs probed or crossed psychological round numbers. However, the latest bull run has abated somewhat amidst some recovery gains in certain rival currencies and a general bout of consolidation ahead of housing data, another raft of Fed speakers and Usd 23 bn 20 year supply that will be of note after a bad debut for new long londs last week, not to mention tepid receptions for 3 and 10 year offerings prior to that. NZD/AUD - A marked change in the tide down under as the Aud/Nzd cross reverses sharply from around 1.0450 to sub-1.0400 and gives the Kiwi enough impetus to regain 0.7000+ status vs its US peer with extra incentive provided by NZ PM Ardern announcing that the entire country is expected to end lockdown and move to a new traffic light system after November 29, while Auckland’s domestic borders will reopen from December 15 for the fully vaccinated and those with negative COVID-19 tests. Conversely, the Aussie is struggling to stay within sight of 0.7300 against its US counterpart in wake of broadly in line Q3 wage prices that leaves the y/y rate still some way short of the 3% pace deemed necessary to lift overall inflation by the RBA. GBP/CAD - Sterling is striving to buck the overall trend with help from more forecast-topping UK data that should give the BoE a green light for lifting the Bank Rate in December, as headline CPI came in at 4.2% y/y, core at 3.4% and PPI prints indicate more price pressure building in the pipeline. Cable printed a minor new w-t-d peak circa 1.3474 in response before waning and Eur/Gbp fell below the prior y-t-d low and 0.8400, but is now back above awaiting more news on the Brexit front and a speech from one of the less hawkish MPC members, Mann. Elsewhere, the Loonie is hovering around 1.2550 vs the Greenback and looking toward Canadian inflation for some fundamental direction as oil prices continue to fluctuate near recent lows, but Usd/Cad may also be attracted to decent option expiry interest between 1.2540-55 in 1.12 bn. CHF/EUR/JPY - All straddling or adjacent to round numbers against the Dollar, but the Franc lagging below 0.9300 on yield differentials, while the Euro has recovered from a fresh 2021 trough under 1.1300 and Fib support at 1.1290 to fill a gap if nothing else, and the Yen just defended 115.00 irrespective of disappointing Japanese machinery orders and internals within the latest trade balance. In commodities, WTI and Brent benchmarks are pressured this morning but the magnitude of the action, circa USD 0.70/bbl at the time of writing, is less pronounced when compared to the range of the week thus far and particularly against last week’s moves. Newsflow has been slim and the downside action has arisen without fresh catalysts or drivers; note, participants are cognisant of influence perhaps being exerted by today’s WTI Dec’21 option expiry. To briefly surmise the morning’s action, Vitol executives provided bullish commentary citing limited capacity to deal with shocks and on that theme, there were reports of an explosion at an oil pipeline in Southern Iran, said to be due to aging equipment. This, alongside reports that Belarus is restricting oil flows to Poland for three-days for maintenance purposes, have not steadied the benchmarks. Elsewhere, last night’s private inventories were mixed but bullish overall, with the headline a smaller than expected build and gasoline a larger than expected draw. On gasoline, some desks posit that this draw may serve to increase pressure for a US SPR release, and as such look to today’s EIA release which is expected to print a gasoline draw of 0.575M. Moving to metals, spot gold and silver are firmer this morning but, in a similar vein to crude, remain well within familiar ranges as specific catalysts have been light and initial USD action has largely fizzled out to the index pivoting the U/C mark. More broadly, base metals are pressured as inventories of iron ore are at their highest for almost three years in China as demand drops, with this having a knock-on impact on coking coal, for instance. US Event Calendar 7am: Nov. MBA Mortgage Applications, prior 5.5% 8:30am: Oct. Building Permits, est. 1.63m, prior 1.59m, revised 1.59m 8:30am: Oct. Building Permits MoM, est. 2.8%, prior -7.7%, revised -7.8% 8:30am: Oct. Housing Starts MoM, est. 1.5%, prior -1.6%; Housing Starts, est. 1.58m, prior 1.56m DB's Henry Allen concludes the overnight wrap Even as inflation jitters remained on investors’ radars, that didn’t prevent risk assets pushing onto fresh highs yesterday, as investor sentiment was bolstered by strong economic data and decent corporate earnings releases. In fact by the close of trade, the S&P 500 (+0.39%) had closed just -0.02% beneath its all-time closing record, in a move that also brought the index’s YTD gains back above +25%, whilst Europe’s STOXX 600 (+0.17%) hit an all-time high as it posted its 16th gain in the last 18 sessions. Starting with the data, we had a number of positive US releases for October out yesterday, which echoed the strength we’d seen in some of the other prints, including the ISMs and nonfarm payrolls that had both surprised to the upside in the last couple of weeks. Headline retail sales posted their biggest gain since March, with a +1.7% advance (vs. +1.4% expected), whilst the measure excluding autos and gas stations was also up by a stronger-than-expected +1.4% (vs. +0.7% expected). Then we had the industrial production numbers, which showed a +1.6% gain in October (vs. +0.9% expected), though it’s worth noting around half of that increase was a recovery from Hurricane Ida’s effects. And that came against the backdrop of solid earnings results from Walmart and Home Depot as well earlier in the session. They saw Walmart raise their full-year guidance for adjusted EPS to around $6.40, up from $6.20-$6.35 previously, whilst Home Depot reported comparable sales that were up +6.1%. To be honest it was difficult to find much in the way of weak data, with the NAHB’s housing market index for November up to a 6-month high of 83 (vs. 80 expected). Amidst the optimism however, concerns about near-term (and longer-term) inflation pressures haven’t gone away just yet, and the 5yr US breakeven rose again, increasing +1.1bps yesterday to an all-time high of 3.21%. Bear in mind that just 12 days ago (before the upside CPI release) that measure stood at 2.89%, so we’ve seen a pretty sizeable shift in investor expectations in a very short space of time as they’ve reacted to the prospect inflation won’t be as transitory as previously believed. The increase was matched by a +1.3bps increase in nominal 5yr yields to a post-pandemic high of 1.27%. The 10yr yield also saw a slight gain of +1.9bps to close at 1.63%, and this morning is up a further +0.7bps. Against this backdrop, the dollar index (+0.58%) strengthened further to its highest level in over a year yesterday, though the reverse picture has seen the euro weaken beneath $1.13 this morning for the first time since July 2020. Speaking of inflation, there were fresh pressures on European natural gas prices yesterday, which surged by +17.81% to €94.19 per megawatt-hour. That’s their biggest move higher in over a month, and follows the decision from the German energy regulator to temporarily suspend the certification of the Nord Stream 2 pipeline, adding further short-term uncertainty to the winter outlook. UK natural gas futures (+17.15%) witnessed a similar surge, and their US counterparts were also up +3.19%. Elsewhere in the energy complex, Brent crude (+0.46%) oil prices moved higher as well. Overnight in Asia, equity indices are trading lower this morning including the CSI (-0.05%), the Nikkei (-0.45%) and the Hang Seng (-0.55%), though the Shanghai Composite (+0.19%) has posted a modest advance. There were also some constructive discussions in the aftermath of the Biden-Xi summit the previous day, with US national security adviser Jake Sullivan saying that the two had spoken about the need for nuclear “strategic stability” talks, which could offer the prospect of a further easing in tensions if they do come about. Looking forward, futures are indicating a muted start in US & Europe later on, with those on the S&P 500 (-0.03%) and the DAX (-0.15%) pointing to modest declines. Elsewhere, markets are still awaiting some concrete news on who might be nominated as the next Fed Chair, though President Biden did say to reporters that an announcement would be coming “in about four days”, so investors will be paying close attention to any announcements. Senator Sherrod Brown, who chairs the Senate Banking Committee, who earlier in the week noted a pick was imminent, followed up by proclaiming he was “certain” that the Senate would confirm either of Chair Powell or Governor Brainard. Staying on the US, as Congress waits for the Congressional Budget Office’s score on Biden’s social and climate spending bill, moderate Democratic Senator Manchin noted continued uncertainty about the bill’s anti-inflationary bona fides. Elsewhere, the impending debt ceiling has worked its way back into the spotlight, with Treasury Secretary Yellen saying that she’ll soon provide updates on how much cash the Treasury will have to pay the government’s bills. The market has started to price in at least some risk, with yields on Treasury bills maturing in mid-to-late December higher than neighbouring maturities, and the Washington Post’s Tony Romm tweeted yesterday that the new deadline that the Treasury was expected to share soon was on December 15. Turning to Germany, coalition negotiations are continuing between the centre-left SPD, the Greens and the liberal FDP, and yesterday saw SPD general secretary Lars Klingbeil state that “The goal is very clear, to have a completed coalition agreement in the next week”. We’ve heard similar comments from the Greens’ general secretary, Michael Kellner, who also said that “We aim to achieve a coalition agreement next week". One issue they’ll have to grapple with is the resurgence in Covid-19 cases there, and Chancellor Merkel and Vice Chancellor Scholz (who would become chancellor if agreement on a traffic-light coalition is reached) are set to have a video conference with regional leaders tomorrow on the issue. Staying on the pandemic, it’s been reported by the Washington Post that the Biden administration will announce this week that it plans to purchase 10 million doses of Pfizer’s Covid pill. The company will submit data for the pill to regulators before Thanksgiving. It’s not just the US that will benefit from Pfizer’s pill however, as the pharmaceutical company will also license generic, inexpensive versions of the pill to low- and middle-income countries, which should be a global boost in the fight against the virus. Looking at yesterday’s other data, the main release came from the UK employment numbers, which showed that the number of payrolled employees rose by +160k in October, whilst the unemployment rate in the three months to September fell to 4.3% (vs. 4.4% expected). That release was better than the Bank of England’s MPC had expected in their November projections, and sterling was the top-performing G10 currency yesterday (+0.06% vs. USD) as the statistics were seen strengthening the case for a December rate hike. In response to that, gilts underperformed their European counterparts, with 10yr yields up +2.7bps. That contrasted with yields on 10yr bunds (-1.4bps), OATs (-1.8bps) and BTPs (-2.6bps), which all moved lower on the day. Interestingly, that divergence between bunds and treasury yields widened further yesterday, moving up to 188bps, the widest since late-April. To the day ahead now, and data releases include October data on UK and Canadian CPI, as well as US housing starts and building permits. Central bank speakers include ECB President Lagarde and the ECB’s Schnabel, the Fed’s Williams, Bowman, Mester, Waller, Daly, Evans and Bostic, and the BoE’s Mann. Finally, the ECB will be publishing their Financial Stability Review, and earnings releases today include Nvidia, Cisco, Lowe’s and Target. Tyler Durden Wed, 11/17/2021 - 07:50.....»»

Category: dealsSource: nytNov 17th, 2021

The 8 best artificial Christmas trees for every home — from a tiny tabletop Tannenbaum to a stunning flocked spruce

An artificial Christmas tree saves you money and the hassle of dealing with a live tree. Here are the most realistic fake trees you can buy. When you buy through our links, Insider may earn an affiliate commission. Learn more.Puelo International/Facebook Artificial Christmas trees have come a long way and look more like the real thing than ever. Realistic and quality fake trees are available in a variety of sizes, shapes, and styles. To complete the look of your Christmas tree, check out our guide to the best tree decorations. Table of Contents: Masthead StickyGrabbing the artificial tree box from the basement will never equal the nostalgic thrill of chopping your own from a snowy field. However, it sure beats the never ending mess of pine needles and the chore of watering a half-living tree in your living room every day.Even better, the artificial holiday trees of today aren't the aluminum monsters of the past. Many are made of high-quality combinations of PVC, polyethylene, and sometimes vinyl. You have to get up close and take a whiff before you realize they're not from a tree farm.After researching faux trees and assessing them for cost, convenience, beauty, and realism, we've found the best artificial trees you can buy this holiday season.Here are the best artificial Christmas trees in 2021A classic faux blue spruceBalsam HillThe Balsam Hill Classic Blue Spruce Tree looks so real, you'll have to look twice to realize it's manufactured.The realistic color of the Balsam Hill Classic Blue Spruce is a major selling point. The shade is a very natural-looking deep green that will remind you of an authentic winter wonderland.The set-up is quick and easy so that anyone should be able to do it themselves in less than an hour. In addition to the tree itself, you'll also get a storage bag and two pairs of white gloves to aid in your branch-fluffing efforts.This highly rated tree is available in multiple sizes, ranging from 4.5 to 9 feet tall, and can be purchased with or without built-in clear LED lights. The only remaining problem is the lack of that beloved pine scent. But tree-scented candles and aromatherapy oils are getting more realistic, too. Problem solved.Classic Blue Spruce Artificial Tree (7 Feet) (button)A towering 10-foot artificial firNational Tree CompanyThe 10-foot Pre-lit Dunhill Fir Tree by National Tree is the ideal artificial tree for people with high ceilings who want to impress guests.If you want your living room to look like the grand ballroom in The Nutcracker Ballet, then National Tree's 10-foot pre-lit Dunhill Fir Tree is your pick.This particular tree comes pre-lit with 1,500 perfectly spaced clear lights, so there's no fiddling with tangled strands or burnt-out bulbs — if one burns out, the others will stay lit. The metal stand is also included, so just add a tree skirt, your family's own traditional ornaments, a topper, and you're set for Santa.This tree is rather difficult to put up but looks amazing once it's done. So that's something to consider if you're planning to set it up by yourself. But two people should be able to set it up perfectly well with a bit of time and patience. Besides, at 10-feet tall, you can expect a little assembly time for any tree.A pre-lit Fraser fir pencil Christmas treeAmazonThe Puleo International Pre-Lit Fraser Fir Pencil Artificial Christmas Tree is thin and tall, so it won't take up a lot of space. For minimalists who want to get the most convenience out of a faux Christmas tree, this pre-lit pencil fir tree from Puleo International is a great option. This high-quality tree comes with white lights wrapped around the trunk and branches for a hassle-free setup. The Fraser fir's narrow pencil shape looks sharp and elegant. This is an ideal tree for those with high ceilings but who live in a small space. Plus, you can adjust the branch tips to make the tree appear fuller or accommodate larger ornaments. A budget-friendly stalwartBest Choice ProductsThe 6-foot Best Choice Products Artificial Christmas Tree is a solid, sturdy tree that offers bang for your buck.This isn't the most realistic-looking tree on our list, but for the money, it's one of the best values out there. The tree is easy to set up, and the metal stand also drives up the functionality. It makes the tree a lot sturdier and less likely to tip than others that come with cheap plastic stands.You may have to do some creative branch fluffing to maintain a full-looking tree, but once you load it up with ornaments, lights, ribbons, and tinsel, you won't think twice about whether or not your purchase was worth it.If the perfect Pinterest-worthy tree is important to your holiday cheer, then you may want to up your budget. But if a solid tree with easy-as-pie setup and a cheap price tag sounds great to you, then deck the halls with this pick.A flocked Christmas tree for a snow-covered lookAmazonIf you want to fully embrace a winter wonderland look, the Best Choice Products Snow Flocked Artificial Christmas Tree looks like you plucked it out of a swirling snowfall.An artificial Christmas tree like Best Choice Products' Snow Flocked one comes almost pre-decorated. With its fully integrated white lights and the addition of a faux snow overlay, all you need to add are some ornaments or bows to make it your own.The tree comes in four heights ranging from 4.5 feet to 9 feet. Your tree will come in three sections that stack together with metal fixtures — no painstakingly installing individual branches. Like any artificial tree, you'll have to take some time to fluff branches for a full look. The all-metal stand provides a solid base.The flocking does tend to shed, so keep a vacuum handy during setup and breakdown.It also comes in an unlit version if you already have your own lights.A space-saving wall huggerHome HeritageThe 5-foot Home Heritage Pre-Lit Half Christmas Tree is a good-sized tree that's perfect for small spaces.Trying to jam a majestic tree into your studio apartment or even a dorm room just got easier. With the Half Christmas Tree from Home Heritage, you don't have to limit yourself to a tiny tabletop tree. You can get the look of a full tree without sacrificing your precious floor space because it's basically a faux tree that's been cut in half.At 14-inches wide, you'll use up what will seem like a tiny amount of floor space for a tree this tall. If you're worried that the lack of width might make this tall tree tippy, some owners said the stand it comes with works perfectly to keep it upright, with no need to anchor it to the wall.There's also a 7-foot version if you have a bit more space that can accommodate a slightly taller and wider tree and a corner version is space is even tighter.A nontraditional ombre Christmas treeTreetopiaThe Treetopia Silver Shadow Ombre Artificial Christmas Tree is a modern conversation starter.If you want to expand your Christmas decor beyond the traditional, look no farther than this black-and-silver ombre tree from Treetopia.A sturdy metal base supports the 6-foot-tall tree shape composed of high-quality PVC and tinsel needles. The shape is tall and thin, like a real-life Douglas fir, but no one will be under the impression that this tree once grew in the ground.The fact that this tree doesn't strive to look "realistic" is actually one of its upsides. The shininess and sparkly color, combined with a perfectly cone-shaped silhouette, are the tree's top features.Treetopia is a highly praised and customer-friendly brand, and its trees tend to be high-quality yet on the low end of the pricing scale.You should have no trouble setting this one up yourself, but note that it may take a few days of fluffing and waiting for all the branches to lie perfectly symmetrically.A miniature tabletop Christmas treeAmazonThe little Goplus 2-Foot Tabletop Christmas Tree arrives with no setup required — pop in three AA batteries and perch it wherever you need a bit of seasonal decor.The Goplus 2-Foot Tabletop Christmas Tree is the perfect faux tree for small spaces that need cheerful decor. The tree only weighs 2 pounds, so you can easily carry it wherever you need to go. With 71 branches to hold ornaments, you can still customize your artificial Christmas tree for a more traditional look. The miniature spruce comes with white lights decorated around the tree and has a cement base with festive red fabric wrapped around it.This tabletop Christmas tree is a budget- and space-friendly option for anyone looking for a simple but elegant tree for the holidays.Artificial Christmas tree FAQsReal versus artificial Christmas trees: What's the difference?Artificial Christmas trees are a fairly effortless alternative to purchasing or cutting down a real Christmas tree each year. A fake tree is a one-time purchase that you can use year after year without any hassle. However, real trees come with the opportunity to pick one out with friends or family, and they will fill your home with the sweet scents of the forest. Plus, real trees are biodegradable and easy to recycle through local curbside pick-up programs, or you can repurpose the wood for firewood, DIY crafts, and more. Real trees require consistent watering and can be hazardous if they dry out. Artificial trees do not require as much attention, and you won't have to deal with pesky pine needles dropping on the floor. If you're someone who tends to have bad allergies, a fake tree could be a better option.What are the benefits of fake Christmas trees?The convenient nature of a fake Christmas tree is one of the best reasons to invest in one. Every year you can be certain that you have a tree that you can decorate whenever. You'll know it fits in your house, and you won't have to worry about the cost after the initial purchase. In addition to ease of use, safety is another perk to artificial trees. Fake trees are fire-retardant, unlike a real tree that needs to be watered.The bottom line is that fake Christmas trees will likely make your life easier once you purchase one. If you aren't attached to the idea and aroma of a real tree, fake ones are a convenient alternative. Can I buy a real Christmas tree online?If you prefer a formerly living Tannenbaum for Christmas, several retailers will ship real Christmas trees to your front door. Stores like Lowe's and The Home Depot have real trees available to ship from tree farms across the country. Trees range anywhere from $30 to over $200, and there can be additional shipping costs. You can order a tree now, but most retailers don't ship the tree until mid to late November.What are artificial Christmas trees made of?Most artificial trees are made of a mix of plastics and metals. The most common type of plastic used is Polyvinyl Chloride, commonly referred to as PVC. This type of plastic is what makes artificial trees fire-retardant. How long does an artificial Christmas tree last? Artificial Christmas trees usually come with a cover or storage to protect them the 11 months out of the year they're not in use. With proper storage and light use around the holidays, artificial trees can last you up to 10 years. Many artificial trees come with warranties between three to 10 years. Since fake Christmas trees are made of PVC plastic and metal, you will have to throw them away in the trash. Artificial trees cannot be recycled, but if your tree is still in good condition, you can give it to a local charity or donation center.What's the best way to store an artificial Christmas tree?If you have the space, it's best to store your fake Christmas tree fully assembled and standing up in a waterproof cover. This prevents any damage that can be caused by trying to fit your tree in a small container. If upright isn't an option, storing the tree unassembled in a dedicated waterproof storage container is much better than the cardboard box your tree came in. Cardboard boxes aren't waterproof, and can lead to your tree becoming damaged or moldy, especially if you store it in the basement. A cheap, but still great option, is to store your tree unassembled in heavy duty garbage bags. This may even be preferable to storing it in the cardboard box (or, if you prefer, you can store it in the box and then place the box in a garbage bag for extra protection).The best deals on artificial Christmas trees from this guideArtificial Christmas trees have become incredibly realistic in recent years, to the point where you may not be able to tell the difference between a real and fake tree at first. Save yourself the hassle of caring for a live tree every year by purchasing an artificial tree that can be stored and reused. To save the most money on a faux tree, the best times to buy one are right after Christmas and during Black Friday and Cyber Monday where you can find the lowest prices just in time for the holidays. Here are the best deals on our favorite artificial Christmas trees.There are currently no deals on our recommended artificial Christmas trees. Read more about how the Insider Reviews team evaluates deals and why you should trust us.Check out our other great Christmas decorating guidesEtsyThe best tree skirtsThe best Christmas tree decorationsThe best Christmas stockingsThe best holiday lightsThe best Christmas decorationsThe best places to buy Christmas ornamentsRead the original article on Business Insider.....»»

Category: worldSource: nytNov 15th, 2021

Futures Rise Boosted By JNJ Split As Treasuries, Dollar Slide

Futures Rise Boosted By JNJ Split As Treasuries, Dollar Slide U.S. equity index futures were slightly up at the end of a volatile week, trading in a narrow 20 point range for the second day in a row, while Treasuries resumed declines in response to the recent shock inflation data from the world’s largest economies. Contracts on the three main U.S. gauges were higher, with Johnson & Johnson rising in premarket trading after saying it will split into two companies, while tech stocks again led gains at the end of a week scarred by deepening concerns over prolonged inflation. All the major U.S. indexes were set for a more than 1% weekly drop, their first since the week ended Oct. 1, as hot inflation numbers sapped investor sentiment and halted an earnings-driven streak of record closing highs. At 7:15 a.m. ET, Dow e-minis were up 106 points, or 0.3%, S&P 500 e-minis were up 8.5 points, or 0.18%, and Nasdaq 100 e-minis were up 40.25points, or 0.25%. The same bullish sentiment that lifted US futures pushed European shares up as luxury shares gained after Cartier owner Richemont posted better-than-forecast earnings, offsetting a drop in travel stocks. Asian shares also climbed, helped by a rally in Japan. At the same time, Treasuries resumed a selloff after a trading holiday Thursday, with this week’s shock US inflation figures still reverberating through the bond market. Five-year notes led losses on concern the price pressure will force the Federal Reserve to raise rates earlier than anticipated. A gauge of the yield curve flattened to the least since March 2020. While global stocks are set for their first weekly drop since early October, their swings have been muted compared with the gyrations in the bond market. Investor focus on a strong earnings season has tempered worries about higher inflation. “Inflation could remain elevated in the coming months, and each inflation release that comes in above expectations has the potential to cause volatility in rate and equity markets, but we still don’t expect inflation to derail the equity rally,” Mark Haefele, chief investment officer at UBS Global Wealth Management, wrote in a note. In US premarket trading, Johnson & Johnson jumped 4.7% in premarket trading after the drugmaker said it is planning to break up into two companies focused on its consumer health division and the large pharmaceuticals unit. Shares of the GAMMA giga techs (fka as FAAMG) also inched up. Tesla’s boss Elon Musk sold even more shares of the electric car maker, regulatory filings showed, after offloading about $5 billion worth of stock following a poll he posted on Twitter. The sale news naturally pushed TSLA stock price higher.  A gauge of U.S.-listed Chinese stocks jumped more than 5%, helped by Alibaba’s blowout Singles’ Day shopping festival and a report that Didi is getting ready to relaunch its apps. Rivian shares gain as much as 5% in U.S. premarket trading, extending the surge for the EV maker seen since its IPO this week which has sent its market value over $100b. Rivian trading at $122.99 in at 5am in New York, compared to IPO price of $78 Rising price pressures across the globe have been a top concern for market participants, with focus now shifting towards how consumer spending would fare as the holiday shopping season approaches. “The risk-on trading stance remains,” said Pierre Veyret, a technical analyst at ActivTrades in London. “However, markets are likely to remain volatile as investors will need to have more clues on where both the economy and monetary policies are going.” In Europe, gains for consumer and retail stocks balanced out declines for mining and energy companies. The Stoxx Europe 600 Index fluctuated as Bank of America strategists predicted a fall of at least 10% for the continent’s equities by early next year. Here are some of the biggest European movers today: Richemont shares jump as much as 9.8% to a record high, with analysts seeing scope for earnings estimates to be upgraded after the company reported first-half results that Citigroup described as “stellar.” Peer Swatch also bounced. Renault shares gain as much as 4.6% after Morgan Stanley upgraded the French automaker to overweight, saying it should have a stronger 2022 if it can raise production levels from a currently low base. Deutsche Telekom rises as much as 3% with analysts highlighting a good revenue performance and upgraded earnings and cash flow guidance as key positives from its earnings. Intertrust shares surge as much as 40% after the trust and corporate-services firm entered talks to be acquired by private-equity firm CVC. AstraZeneca falls as much as 5.9% after the drugmaker’s 3Q results missed estimates, with analysts noting a big miss for cancer drug Tagrisso. Wise shares sink as much as 8.8% after the money-transfer company won’t be added to an MSCI index in the latest rejig as some investors had expected. JDE Peet’s, Atos and Investor AB also all moved after the MSCI review. Fortum shares decline as much as 3.6% after the Finnish utility’s 3Q sales missed estimates. Uniper, in which Fortum owns a 75% stake, also slid after Fortum said it stopped share purchases in the German group in July owing to high prices. Avon Protection plummet as much as 44% after it warned of testing failures for some body-armor plates ordered by the U.S. military. SimCorp shares drop as much as 7.1% after the financial software and services company’s 3Q earnings, with Handelsbanken calling the quarter “weak,” and saying it raises doubts for the 2022 outlook Earlier in the session, Asia’s regional benchmark advanced, on track for a second day of gains, after sales in the Singles’ Day shopping festival boosted optimism. The MSCI Asia Pacific Index rose as much as 0.9%, with materials and communication stocks driving the benchmark. Tencent climbed 1.6%, after it bought a Japanese game studio and sold HengTen Networks shares. JD.com gained 5.2% after it received record Singles’ Day orders. Adding to sentiment were the mandate for China’s President Xi Jinping to potentially rule for life, which may mean policy continuity and fewer regulatory surprises and Goldman Sachs’ upgrade of offshore China stocks. A report that Didi Global is getting ready to relaunch apps in China further fueled optimism. “Investors are hoping that greenshoots of a loosening of reforms are upon us,” said Justin Tang head of Asian research at United First Partners. It’s clear “tech shares got a little boost from Singles’ Day and the anointing of Xi as forever leader.” JD.com Shines in Muted Singles Day After Sales Beat: Street Wrap South Korea and Japan benchmarks posted the top gains in the region. Australia’s shares also advanced, boosted by mining stocks. Japanese equities also rose, following gains in U.S. peers, erasing virtually all of their losses from earlier in the week. Electronics makers and telecoms were the biggest boosts to the Topix, which gained 1.3%. All 33 industry groups were in the green except energy products. Tokyo Electron and SoftBank Group were the largest contributors to a 1.1% rise in the Nikkei 225. The yen has weakened more than 1% against the dollar since Tuesday. “It’s a favorable environment for risk-taking thanks to China,” said Shogo Maekawa, a strategist at JP Morgan Asset Management in Tokyo, referring to Evergrande’s latest interest payment. Rising U.S. yields and a weaker yen “may serve as a trigger for foreign investors to re-evaluate Japanese equities and shift their focus to stocks here.” Indian stocks also rose, snapping three sessions of declines, boosted by gains in software exporter Infosys. The S&P BSE Sensex climbed 1.3% to 60,686.69 to a two-week high and completed a second successive week of gains with a 1% advance. The NSE Nifty 50 Index increased 1.3% on Friday. All 19 sub-indexes compiled by BSE Ltd. rose, led by a measure of technology companies. In earnings, of the 45 Nifty 50 companies that have announced results so far, 29 have either met or exceeded consensus analyst expectations, 15 have missed estimates, while one couldn’t be compared. Oil & Natural Gas Corp. and Coal India are among those scheduled to announce results today.  Expectations of the U.S. Fed raising interest rates earlier than expected after a surge in inflation weighed on most emerging markets this week. In India, consumer prices probably quickened for the first time in five months in October, according to economists in a Bloomberg survey. The data will be released on Friday after market hours.   In FX, the Bloomberg Dollar Spot Index was little changed, even as the dollar added to gains versus most its Group-of-10 peers, and Treasury yields rose across the curve on concern that rising U.S. inflation would warrant earlier rate hikes. The euro hovered around a more than a one-year low of $1.1450. The pound extended an Asia session advance and was the best performer among G-10 peers; the currency still heads for a third week of losses, having touched its lowest level since Christmas and options suggest the move may have legs to follow. Australian and New Zealand dollars are headed for back-to-back weekly declines as rising Treasury yields stoke further demand for the greenback; A 60% drop in the price of iron ore signals a blow to the Australian government’s efforts to stabilize the fiscal position following massive spending to support the economy through the coronavirus pandemic.Meanwhile, the ruble extended its losses, tracking a decline in Brent crude, as tensions flared up between Russia and Western nations over energy supplies and migrants. The currency tumbled as much as 1.1% to 72.4375 per dollar after the U.S. sounded out its EU allies that Russia may invade Ukraine. That made the ruble the worst performing currency in emerging markets.  In rates, Treasuries were off session lows, but cheaper by 2bp-3bp across belly of the curve which underperforms as reopened cash market catches up with Thursday’s slide in futures. Treasury 10-year yields around 1.566%, cheaper by 2bp on the day, while 5-year topped at 1.262% in early Asia session; curve is flatter amid belly-led losses, with 5s30s spread tighter by ~1bp on the day after touching 63.7bp, lowest since March 2020. On the 2s5s30s fly, belly cheapened 3.5bp on the day, re-testing 2018 levels that were highest since 2008. Bunds advanced, led by the front end, while Italian bonds slid across the curve, pushing the 10-year yield above 1% for the first time since Nov. 4, as money markets held on to aggressive ECB rate-hike bets. The Asia session was relatively calm, while during the European morning, Italian bonds lagged as futures continue to price in aggressive ECB policy. Treasury options activity in U.S. session has included downside protection on 5-year sector, where yields reached YTD high.     In commodities, crude futures dip to lowest levels for the week: WTI drops 1.4% before finding support near $80, Brent dips 1% back onto a $81-handle. Spot gold drifts lower near $1,852/oz. Base metals are mixed: LME aluminum, nickel and tin post modest gains, copper and zinc lag. Looking at the day ahead, data releases from the US include the University of Michigan’s preliminary consumer sentiment index for November, as well as the JOLTS job openings for September. In the Euro Area, there’ll also be industrial production for September. From central banks, we’ll hear from New York Fed President Williams, ECB Chief Economist Lane, and the BoE’s Haskel. Market Snapshot S&P 500 futures little changed at 4,646.50 STOXX Europe 600 little changed at 485.18 MXAP up 0.8% to 199.85 MXAPJ up 0.6% to 653.35 Nikkei up 1.1% to 29,609.97 Topix up 1.3% to 2,040.60 Hang Seng Index up 0.3% to 25,327.97 Shanghai Composite up 0.2% to 3,539.10 Sensex up 1.3% to 60,697.82 Australia S&P/ASX 200 up 0.8% to 7,443.05 Kospi up 1.5% to 2,968.80 Brent Futures down 1.3% to $81.83/bbl Gold spot down 0.5% to $1,853.43 U.S. Dollar Index little changed at 95.20 German 10Y yield little changed at -0.23% Euro little changed at $1.1441 Top Overnight News From Bloomberg Inflation is soaring across the euro area, but it’s also diverging by the most in years in a further complication for the European Central Bank’s ongoing pandemic stimulus The White House is debating whether to act immediately to try to lower U.S. energy prices or hold off on dramatic measures in the hope markets settle, as President Joe Biden’s concern about inflation runs up against climate, trade and foreign policy considerations Reports U.S. is concerned that Russia may be planning to invade Ukraine are “empty and unfounded efforts to exacerbate tensions,” Kremlin spokesman Dmitry Peskov says on conference call Financial problems faced by institutions like China Evergrande Group are “controllable” and spillovers from the nation’s markets to the rest of the world are limited, a former central bank adviser said Hapag-Lloyd AG warned that a crunch in global container shipments could persist into next year, with labor negotiations, environmental pressures and disruptive weather combining to hamper goods flows Japan’s government plans to compile an economic stimulus package of more than 40 trillion yen ($350 billion) in fiscal spending, according to the Nikkei newspaper President Xi Jinping appeared more certain than ever to rule China well into the current decade, as senior Communist Party officials declared that the country had reached a new “historical starting point” under his leadership Italian President Sergio Mattarella tried to quash speculation that he could stay on for a second term, leaving Prime Minister Mario Draghi as the top contender for the role early next year A more detailed look at global markets courtesy of Newsquawk Asian equity markets traded mostly higher heading into the weekend as the region attempted to build on the somewhat mixed performance stateside, where price action was contained amid Veterans Day and with US equity futures also slightly picking up from the quasi-holiday conditions. ASX 200 (+0.8%) was lifted in which mining stocks and the tech industry spearheaded the broad gains across sectors aside from healthcare as Ramsay Health Care remained pressured after it recently announced a near-40% decline in Q1 net profit. Nikkei 225 (+1.1%) was underpinned with Japanese exporters benefitting from recent favourable currency flows and with the biggest stock movers influenced by a deluge of earnings. Hang Seng (+0.3%) and Shanghai Comp. (+0.2%) were indecisive with Hong Kong tech stocks encouraged after e-commerce retailers Alibaba and JD.com posted record Singles Day sales, despite a deceleration in revenue growth from the shopping festival to its slowest annual pace since its conception in 2009 amid a toned-down event due to Beijing’s tech crackdown and emphasis on common prosperity. Conversely, mainland bourses were indecisive following a neutral liquidity operation by the PBoC and after US President Biden recently signed the Secure Equipment Act which prevents companies deemed as security threats from receiving new equipment licences from US regulators, which comes ahead of Monday’s potential Biden-Xi virtual meeting. Finally, 10yr JGBs were lower due to a lack of momentum from US treasuries as cash bond markets were closed for the federal holiday, with demand for JGBs also hampered by the gains in stocks and lack of BoJ purchases in the government debt market. Top European News Macron and Draghi Have Plans to Fill the Void Left by Merkel Johnson Burns Through Political Capital Built Up With Tory MPs JPMorgan Hires Zahn as Head of DACH Equity Capital Markets Hapag-Lloyd CEO Says Global Shipping Crunch Could Extend in 2022 European equities (Stoxx 600 -0.1%) have seen a relatively directionless start to the session with the Stoxx 600 set to close the week out with modest gains of around 0.4%. Macro updates have been particularly sparse thus far with today’s data docket also relatively light (highlights include US JOLTS and Uni. of Michigan sentiment). The handover from the APAC region was a predominantly positive one as Japanese equities benefited from favourable currency dynamics and Chinese markets focused on the fallout from Singles Day which saw record sales for Alibaba and JD.com. Stateside, futures are also relatively directionless (ES -0.1%) ahead of aforementioned US data points and Fedspeak from NY Fed President Williams (voter), who will be speaking on heterogeneity in macroeconomics. The latest BofA Flow Show revealed USD 7.3bln of inflows for US equities, whilst tech stocks saw outflows of USD 1.6bln; the largest outflow since June. In Europe, equities saw their largest outflows in seven weeks with USD 1.7bln of selling. In a separate note, BofA projects 10+% of downside by early next year for European stocks amid weakening growth momentum and rising bond yields. Sectors in Europe are mixed with outperformance seen in Personal & Household Goods with Richemont (+8.6%) shares boosted following better-than-expected Q3 results. LVMH (+1.4%) also gained at the open following reports that the Co. could consider opening duty-free stores in China. Telecom names are firmer with Deutsche Telekom (+2.6%) one of the best performers in the DAX after posting solid results and raising guidance. To the downside, commodity-exposed names are lagging peers with Basic Resources and Oil & Gas names hampered by price action in their underlying markets. FTSE-100 heavyweight AstraZeneca (-4.4%) sits at the foot of the index after Q3 profits fell short of expectations. Finally, Renault (+4.3%) is the best performer in the CAC after being upgraded to overweight from equalweight at Morgan Stanley with MS expecting the Co. to have a better year next year. Top Asian News JPMorgan Japan Stocks Downgrade Shows Doubts Before Stimulus Japan Stimulus Package to Top 40 Trillion Yen, Nikkei Reports Hon Hai Warns Chip Shortage Will Outweigh IPhone Boost to Sales AirAsia X Gets Over 95% Support From Creditors for Revamp In FX, it would be far too premature to suggest that the Buck’s winning streak is over, but having rallied so far in relatively short order some consolidation is hardly surprising, especially on a Friday in between a semi US market holiday and the weekend. Hence, the index is hovering just above 95.000 within a 95.078-266 range after a minor extension from yesterday’s peak to set a new 2021 best, and the Dollar is on a more mixed footing vs basket components plus other G10 and EM counterparts, awaiting the return of those not in on Veteran’s Day, JOLTS, preliminary Michigan sentiment and Fed’s Williams for some fresh or additional impetus and direction. GBP/CAD - The Pound and Loonie are flanking the major ranks even though the latest retreat in Brent and WTI is pretty uniform from a change on the day in Usd terms perspective, so it seems like Sterling is getting a boost from a downturn in the Eur/Gbp cross ahead of the UK-EU showdown on Brexit and Article 16, while Usd/Cad remains bullish on technical impulses before the BoC’s Q3 Senior Loan Officer Survey. Cable has bounced from just over 1.3350 to retest 1.3400 with Eur/Gbp probing 0.8550 to the downside, but Usd/Cad is probing 1.2600 irrespective of the Greenback stalling. AUD/JPY - Both fractionally firmer as the Buck takes another breather, though the Aussie is also deriving some traction from favourable Aud/Nzd tailwinds again. Aud/Usd has pared losses sub-0.7300 as the cross hovers around 1.0400, while Usd/Jpy has retreated from around 114.30 towards 1.9 bn option expiries at the 114.00 strike amidst reports that the Japanese Government's economic stimulus package will increase to Yen 40+ tn in fiscal spending, according to the Nikkei citing sources. EUR/NZD/CHF - The Euro is still hanging in following its close below a key technical level for a second consecutive session and fall further from the psychological 1.1500 mark, especially as better than forecast Eurozone ip has not prompted any upside, However, option expiry interest at 1.1450 (1.2 bn) may keep Eur/Usd afloat if only until the NY cut. Similarly, the Kiwi has not gleaned anything via a decent pick-up in NZ’s manufacturing PMI as Nzd/Usd clings to 0.7000+ status and the Franc remains under 0.9200 regardless of an acceleration in Swiss import and producer prices. SCANDI/EM - More transitory inflation remarks from Riksbank Governor Ingves are not helping the Sek fend off another dip through 10.0000 vs the Eur. but the Nok is getting protection from weaker oil prices via unusually large option expiries spanning the same big figure given 1.2 bn at 9.7500, 1.7 bn on the round number and 1 bn at 10.2000. Conversely, the Rub is underperforming as tensions rise around the Russian/Ukraine border and the Kremlin aims blame at the feet of the US alongside NATO, while the Try only just survived the latest assault on 10.00000 against the Usd in wake of below forecast Turkish ip and CBRT survey-based CPI projections for year end rising again. Elsewhere, the Mxn is softer following confirmation of a 25 bp Banxico hike on the basis that the verdict was not unanimous and some were looking for +50 bp, but the Zar retains an underlying bid after Thursday’s supportive SA MTBS and with Eskom reporting no load shedding at present, while the Cnh and Cny are holding gains in advance of the virtual Chinese/US Presidential meeting scheduled for Monday. In commodities, WTI and Brent are pressured in the European morning, experiencing more pronounced downside after a gradual decline occurred in APAC hours. However, the magnitude of today’s performance is comparably minimal when placed against that seen earlier in the week and particularly on Wednesday; in-spite of the earlier pronounced movements, benchmarks are currently set to end the week with losses of less than USD 1.00/bbl – albeit the range is in excess of USD 5.00/bbl. Newsflow this morning has been minimal and thus yesterday’s themes remain in-focus where a firmer USD likely continues to factor but more specifically COVID-19 concerns, with Germany’s Spahn on the wires, and geopolitics via Russia drawing attention. On the latter, tensions are becoming increasingly inflamed as the US said they are concerned that Russia could attack Ukraine and in response Russia said they are not a threat to anyone, but, says US military activity is aggressive and a threat. Moving to metals, spot gold and silver are softer on the session, but remain notably firmer on the week given the CPI-induced move. On this, UBS highlights the risk of additional inflation strength next year which could stoke further gold demand. Elsewhere, base metals are, broadly speaking, marginally softer given tentative APAC performance and the aforementioned COVID concerns, particularly those pertinent for China. In terms of associated bank commentary, SocGen looks for copper to average USD 9.2k/T and USD 8.0k/T in 2021 and 2022 respectively. US Event Calendar 10am: Sept. JOLTs Job Openings, est. 10.3m, prior 10.4m 10am: Nov. U. of Mich. 1 Yr Inflation, est. 4.9%, prior 4.8%; 5-10 Yr Inflation, prior 2.9% 10am: Nov. U. of Mich. Sentiment, est. 72.5, prior 71.7; Current Conditions, est. 77.2, prior 77.7; Expectations, est. 68.8, prior 67.9 DB's Henry Allen concludes the overnight wrap there wasn’t much to speak of in markets yesterday as US bond markets were closed for Veterans Day and investors elsewhere continued to digest the bumper CPI print from the previous session. We did see a bit of residual concern at the prospect of a faster tightening in monetary policy, and implied rates on Eurodollar futures continued to climb, gaining between +4bps and +8bps on contracts maturing through 2023. However, on the whole equities were relatively unfazed on both sides of the Atlantic, and the S&P 500 (+0.06%) stabilised after 2 successive declines thanks to a bounceback among the more cyclical sectors. Looking at those moves in more depth, interest-sensitive tech stocks were a big outperformer yesterday as both the NASDSAQ (+0.52%) and the FANG+ index (+0.98%) of megacap tech stocks moved higher. Material stocks in the S&P (+0.85%) were another sectoral winner, and the VIX index of volatility (-1.07pts) ticked down from its 4-week high on Wednesday. In Europe, the advance was even more prominent, where the STOXX 600 (+0.32%), the DAX (+0.10%) and the CAC 40 (+0.20%) all reached fresh records. Indeed, for the STOXX 600, that now marks the 13th advance in the last 15 sessions, with the index having risen by over +6% in the space of a month. As mentioned, it was a quieter day for sovereign bond markets with the US not trading, but the sell-off continued in Europe as yields on 10yr bunds (+1.7bps), OATs (+1.4bps) and BTPs (+2.7bps) all moved higher. We didn’t get any fresh news on the Fed officials either given the US holiday, but a Washington Post article yesterday said that officials from the White House had stayed in touch with Governor Brainard since her meeting with President Biden last week, albeit still emphasising that no final decision had yet been made. Separately, Bloomberg reported that senior Biden advisors did not view the recent trading scandal at the Federal Reserve as disqualifying Chair Powell. US Treasury markets have reopened overnight, with 10yr yields following their European counterparts higher, moving up +1.4bps to 1.563%. That’s been driven by a +2.4bps rise in the real yield, though 10yr real yields still remain close to their all-time lows since TIPS started trading back in 1997. Otherwise in Asia, markets are mostly trading higher with the KOSPI (+1.48%), Nikkei (+1.07%) and Hang Seng (+0.22%) all advancing, though the Shanghai Composite (-0.01%) is basically unchanged whilst the CSI (-0.31%) is trading lower. Data showed further signs of inflationary pressures in the region, with South Korea’s import price index up +35.8% in October on a year-on-year basis, the highest since 2008. Elsewhere in India, Prime Minister Modi is expected to announce an opening up of the sovereign bond market to retail investors today, which comes amidst rising inflation concerns as well. Looking ahead, futures are indicating a positive start in the US and Europe with those on the S&P 500 (+0.16%) and the DAX (+0.15%) pointing higher. Turning to the geopolitical scene, it was reported by Bloomberg that US officials had briefed their counterparts in the EU about a potential Russian invasion of Ukraine. It follows a build-up in Russian forces near the Ukrainian border that have been reported more widely, and echoes a similar situation back in the spring. The Russian ruble weakened -0.57% against the US dollar yesterday in response, with the declines occurring after the report came out. This comes amidst a number of broader tensions in the region, and natural gas prices in Europe were up +6.66% yesterday after Belarus’ President Lukashenko threatened to cut the transit of gas if the EU placed additional sanctions on his regime. Meanwhile on Brexit, there were potential signs of compromise in the dispute over Northern Ireland, with the Telegraph reporting that the EU was prepared to improve its offer when it came to reducing customs checks. However, the report also said that this would be contingent on the UK ending its demands to remove the European Court of Justice’s role in overseeing the agreement. There has been growing speculation in recent days that the UK could be about to trigger Article 16 of the Northern Ireland Protocol, which allows either side to take unilateral safeguard measures if the deal was causing serious issues. This would risk EU retaliation that could in theory even led to a suspension of the entire trade deal agreed last year, which is an option that has been talked up in recent weeks. For those wanting further reading on the issue, DB’s FX strategist Shreyas Gopal put out a note on Tuesday (link here) looking at the issues surrounding Article 16 and its implications for sterling. Another important thing to keep an eye on over the coming weeks will be any further signs of deterioration in the Covid-19 situation. Cases have been ticking up at the global level for around 4 weeks now, and a number of European countries (including Germany) have seen a major surge over the last few days. In the Netherlands, they actually set a record for the entire pandemic yesterday, and Prime Minister Rutte is due to hold a press conference today where it’s been speculated he’ll announce fresh restrictions. Separately in Austria, Chancellor Schallenberg said that a lockdown for the unvaccinated was “probably unavoidable”, and said that “I don’t see why two-thirds should lose their freedom because one-third is dithering”. On the data front, the only major release was the UK’s Q3 GDP reading yesterday, which surprised on the downside with growth of +1.3% (vs. +1.5% expected), even though Covid-19 restrictions were much easier in Q3 relative to Q2. To be fair, the monthly reading for September did surprise on the upside, with growth of +0.6% (vs. +0.4% expected), but it came as July and August saw downward revisions. On a monthly basis, the September reading meant the UK economy was just -0.6% beneath its pre-pandemic size in February 2020. To the day ahead now, and data releases from the US include the University of Michigan’s preliminary consumer sentiment index for November, as well as the JOLTS job openings for September. In the Euro Area, there’ll also be industrial production for September. From central banks, we’ll hear from New York Fed President Williams, ECB Chief Economist Lane, and the BoE’s Haskel. Tyler Durden Fri, 11/12/2021 - 07:48.....»»

Category: blogSource: zerohedgeNov 12th, 2021

5 Reasons to Bet on Small-Cap ETFs

Small-cap stocks staged a great performance to start November. Holiday season, upbeat earnings, cheaper valuation and Fed tapering to augur well for the pint-sized stocks. Small-cap stocks staged a great performance to start November. The cohort has lately underperformed its bigger peers like the S&P 500 and the Nasdaq. But things are taking a turn for the better for the pint-sized stocks. The small-cap index Russell 2000 has been hovering around an all-time high.Against this backdrop, below we highlight a few reasons that point out why small-cap ETFs may rally higher in the coming days.Holiday SeasonThe National Retail Federation (“NRF”) projects November/December retail sales in the range of $843.4 billion to $859 billion, up 8.5% to 10.5% from 2020 results. The NRF said its forecast — excluding automobile dealers, gas stations and restaurants and covering Nov  1 to Dec  31— beat the previous high of $777.3 billion, up 8.2%, in 2020 as well as the average gain of 4.4% over the past five years.Deloitte forecasts considerably higher holiday sales for 2021, estimating growth of 7% to 9% to between $1.28 and $1.3 trillion during the November-to-January time span. That is more than Deloitte’s 1% to 1.5% projection for 2020 and the U.S. Census Bureau’s November 2020-to-January 2021 sales growth measure of 5.8% to $1.19 trillion (seasonally adjusted, excluding autos and fuel).With consumers prepping for the gift-giving season, small-cap retail stores are likely to gain strength too along with their bigger peers. Invesco S&P SmallCap Consumer Discretionary ETF PSCD which bets big on stocks like Macy's (6.05%), Signet Jewelers SIG and Steven Madden SHOO should benefit.  Economy to Gain Momentum in Q4The U.S. economy lost its growth momentum in the third quarter mainly due to the resurgence of the Delta variant of COVID-19. "We're going to see growth re-accelerate in the fourth quarter and the first half of next year as the effect of the Delta variant begins to wane. It doesn't mean that we won't have future waves of COVID, but with each passing wave, the economic costs continue to diminish," said Ryan Sweet, a senior economist at Moody's Analytics in West Chester, Pennsylvania, as quoted on Reuters.Vaccine boosters are available now. More companies are trying to come up with antiviral therapies. This should boost the U.S. economy in the coming days. Since small-cap stocks are more closely tied to the domestic economy, any improvement in the U.S. economy would be great for such stocks.Upbeat EarningsFor the small-cap S&P 600 Index, we now have Q3 results from 25 index members or 4.2% of the index’s total membership. Total earnings for these 25 index members are up 17.5% on 3.5% higher revenues, with 80% beating EPS estimates and 68% beating revenue estimates, per the Earnings Trends issued on Oct 20, 2021. The Q3 earnings season overall for the S&P 600 is expected to be upbeat with 44.4% earnings gain (following 280% gains in Q2) on 16.1% revenue gains (over above 34.4% increase in Q2).Inexpensive ValuationThe small-cap benchmark Russell 2000 rallied about 2.6% on Nov 1 for its best day since Aug 27. After a tough September in which the S&P 500 fell more than 4%, the benchmark jumped nearly 7% last month. In the past six months, the large-cap S&P 500 has gained about 10% while the S&P 600 has advanced merely 2.3%. No wonder, the small-cap index has the potential to rally when the domestic economy recovers fully. For example,SPDR S&P 600 Small Cap ETF SLY has a Zacks Rank #2 (Buy) and has a P/E ratio of 15.53X versus 22.20X P/E possessed by SPDR S&P 500 ETF Trust SPY.Fed to Start Tapering The Federal Reserve on Wednesday said it would start slowing its pace of asset purchases, marking the first step in scaling back its COVID-era easy money policies. This will likely follow a rate hike sooner or later. All such tightening measures will boost the strength of the greenback. Since small-cap stocks are more domestically-focused and have less foreign exposure, the cohort is less likely to be exposed to the rising greenback.ETFs in Focus SPDR S&P 600 Small Cap ETF (SLY) – Zacks Rank #2iShares Core S&P Small-Cap ETF IJR – Zacks Rank #2Invesco PureBeta MSCI USA Small Cap ETF PBSM – Zacks Rank #2Vanguard Small-Cap Index Fund ETF Shares VB – Zacks Rank #2Schwab U.S. Small-Cap ETF SCHA – Zacks Rank #2 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 Signet Jewelers Limited (SIG): Free Stock Analysis Report SPDR S&P 500 ETF (SPY): ETF Research Reports Steven Madden, Ltd. (SHOO): Free Stock Analysis Report iShares Core S&P SmallCap ETF (IJR): ETF Research Reports Invesco S&P SmallCap Consumer Discretionary ETF (PSCD): ETF Research Reports SPDR S&P 600 Small Cap ETF (SLY): ETF Research Reports Schwab U.S. SmallCap ETF (SCHA): ETF Research Reports Vanguard SmallCap ETF (VB): ETF Research Reports Invesco PureBeta MSCI USA Small Cap ETF (PBSM): ETF Research Reports To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksNov 4th, 2021

The 17 best places to buy Christmas decorations, from tree toppers to lights and novelty items

From tree toppers to lawn ornaments, these stores have all the Christmas decorations you could wish for. Shop at Wayfair, Etsy, and more. When you buy through our links, Insider may earn an affiliate commission. Learn more. Jose Luis Pelaez Inc/Getty Images We've rounded up the best places to find Christmas decorations in a range of styles and prices. You can add festive flair to every room in your home, from flannel sheets to merry table cloths. Target, Etsy, Pottery Barn, and others have Christmas decorations in practically every category. Table of Contents: Masthead StickyThe holiday season has officially begun, and people have already brought their wreaths and lights out of storage. But if you haven't joined in on the reindeer games or your decorations could use a bit of updating, don't fret: The following retailers have all the decor you could want. Whether you like your Christmas cheer to be traditional, modern, eclectic, or rustic, you can deck your halls, walls, and everything else in knickknacks, candles, garlands, and so much more. There are plenty of options for the lawn and roof, as well. From those who just want an elegant wreath to those looking to go full Clark Griswold, you should be able to get most everything on your list. We've rounded up a variety of retailers selling holiday goodies at various price points. Keep in mind that supply-chain issues could affect holiday decor stock, so it's a good idea to start shopping early this year.Here are the best places to buy Christmas decorations Hammacher Schlemmer Hammacher Schlemmer It's been in business for over 170 years, but Hammacher Schlemmer offers Christmas decor beyond the traditional. Started as a hardware store in 1848, Hammacher Schlemmer has been selling unique items via catalog since 1881. It's known for product testing much of what it sells, including its Christmas trees — some of which cost over $1,000, if you opt for one taller than 8 feet.While the store offers the usual Christmas fare, from wreaths to angel tree toppers, its holiday entertaining choices are a bit more offbeat: an animated, singing Mickey Mouse; a tabletop fireplace; and a popcorn maker. And if you want to make a big splash outdoors, there's a 15-foot inflatable Rudolph with a blinking nose. Apologies in advance to your neighbors.Good for: outdoor decorations, Christmas trees, offbeat entertaining optionsChoreographed Illuminated Galloping Reindeer (small)7.5-Foot Northern Lights Christmas Tree (small)Cordless Twinkling Table Runner (small) Grandin Road Grandin Road Grandin Road has a curated selection of holiday decor, including some truly unique offerings.If you're already counting the days until Christmas, Grandin Road has the clock for you. The store's options aren't exhaustive, but it does encompass a lot of tastes. There's greenery in all sorts of styles, and the pillow section is especially adorable. Perhaps Grandin Road's most attention-grabbing decorations are the startlingly realistic sheep, which look like they might stroll over and munch your sofa at any moment. (There are similarly detailed llamas as well.) If you prefer your wildlife to appear a little more fanciful, a purple velvet reindeer might do the trick.Good for: collectibles, wreaths and garlands, outdoor decorationsMercury Glass LED Trees (small)Snow Boots (small)Winter Wonderland Pillows (small) Anthropologie Anthropologie For the holidays, Anthropologie brings its usual boho, arty feel to greenery, ornaments, and more.Similar to CB2, Anthropologie keeps its holiday selection limited, but there's still plenty of options in its signature style. Cozy faux-fur blankets come in purple, pink, green, or blue, in addition to the usual white and gray. If you want a stocking that stands out from the crowd, the brand's bright and tasseled ones might appeal to you. The candle collection is both beautiful and festively fragrant: There are wooden trees that smell like balsam and cedarwood, a candy cane scent, and plaid candles in various aromas. Good for: candles, ornaments, unusual stockingsFrosted Bottle Brush Tree Candle (small)Light-Up Holiday Village (small)Vegetable Garden Glass Ornaments (set of 12) (small) The Vermont Country Store The Vermont Country Store Like something out of a Hallmark Christmas movie, the Vermont Country Store has loads of quaint holiday decor. If your idea of Christmas is New England-inspired, you're probably already a fan of The Vermont Country Store. It's been in business since 1946 and has practically everything you need for an old-fashioned Christmas, from its selection of Christmas trees to holiday candles and candle holders.Flannel-bedding fans will find a good selection, including a few sheet sets decorated with Snoopy and the gang. If you've always dreamed of pulling apart your own holiday cracker, as they do in Britain, you can purchase them, as well. The store also sells holiday snacks, including tins of caramel corn and candy you may have eaten at Grandma's. Good for: sheets, holiday treats, knickknacksLeather Sleigh Bell Strap with 4 Brass Bells (small)Mosser Glass Christmas Tree (small)European Cookie Assortment (small) Bronner's Bronner's Bronner's is a year-round Christmas store located in Frankenmuth, Michigan, but it also has a robust online presence. Bronner's has essentially every category of Christmas decoration, from lights to outdoor accessories and wreaths. You'll even find Santa suits if you want to be part of the decor. The store sells cowboy-boot stockings, as well as more traditional kinds.Bronner's ornament selection is impressive, as well. Perhaps a lasagna would make the perfect addition to your Garfield-themed tree. (If you want an all-food tree, Bronner's more than has you covered. There's even a DQ Blizzard.) It sells all matter of dinosaur and Disney ornaments, And, of course, Bob Ross will make yours a happy little tree. Good for: Ornaments, wreaths, lights, collectibles Worth a look:Silhouette Camel Lighted LED Wire-Frame Shape (small, Preferred: Bronner's)Scrooge and Marley Counting House (small, Preferred: Bronner's)Transparent Red With Swirls Glass Ornament (small) Balsam Hill Balsam Hill Balsam Hill makes artificial Christmas trees, but there's much more to stock up on, as well. Balsam Hill has one of the more useful ways to hunt down a wreath or garland, letting you narrow down the choices by size and other descriptors, like realistic, undecorated, or safe for the outdoors. Styles like farmhouse are congregated on a single page, so you can easily find coordinating foliage. There are also some more unique items on offer, like the life-sized Santa or extremely convincing North Pole mailbox. Balsam Hill also has a partnership with the Biltmore Estate and sells ornaments and other items inspired by the holiday decorations at the historic, Gilded Age mansion that the Vanderbilt family built.  Good for: Artificial Christmas trees, high-end ornaments, wreaths and garlandsWorth a look:Christmas Village Wood Tree Collar (small, Preferred: Balsam Hill)Legacy Ornament Set (small, Preferred: Balsam Hill)Father Christmas Tree Topper (small) Wayfair Wayfair In addition to its usual furniture and decor, Wayfair has a whole holiday section full of everything from wreaths to bedding. You know a place is serious about its holiday decorations when its number of wreaths is in the thousands. Wayfair's outdoor ornaments come in all sorts of styles, too, from a penguin family to an inflatable station wagon with a tree, à la "National Lampoon's Christmas Vacation." Or turn your garage into Santa's workshop with an oversized banner. For indoors, there's everything you'd expect: trees, lights, and ornaments, with hundreds of choices in each category. Holiday bedding and sheets, towels, and shower curtains are also available. Again, there is an almost overwhelming amount of each, so the filter options at the top of the site are good places to start. Good for: Trees, lights, ornaments, outdoor decorWorth a look:Bethlehem Star Tree Topper (small)Genia Single Floral Shower Curtain Set + Hooks (small)3-Piece LED-Lighted Table Christmas Balls Set (small) Pottery Barn Pottery Barn From reindeer serving trays to nostalgic dinnerware, Pottery Barn excels at helping you set your holiday table. Are you still expanding your holiday gnome collection? Pottery Barn has a whole gnome section. If you're not on that particular kick, the retailer also has a nice assortment of stockings and tree skirts that don't feature bearded men. Not every fireplace is ready-made for the occasion, so some attractive stocking holders will do the trick. For some, Christmas Eve is made extra special when they get to snuggle up in some holiday sheets. You'll find Christmas cats, snowy gnomes, merry bears, and more. Though not as vast as the Christmas section, check out the Diwali and Hanukkah shops for more holiday items.  Good for: Stockings and tree skirts, holiday sheets, table settingsWorth a look:Tahoe Fair Isle Stoneware Rectangular Serving Platter (small, Preferred: Pottery Barn)Red Santa Toile Organic Cotton Sheet Set, Queen (small)Red Ribbon Handmade Recycled Drinkware Collection (small) Target Target Target wants to make it easier for you to pull together a look this Christmas.Not everyone has an eye for what coordinates and what clashes, which is why many retailers create pages with different items that create a cohesive ambiance. That's the idea behind Target's shoppable rooms tool. You can click each piece of decor in the modern farmhouse living room and add it to your shopping cart. If you'd prefer the fun of styling (or you like the look and feel of eclecticism), Target also has a giant, browsable Christmas section, with lights, trees, wreaths, stockings, advent calendars, and on, and on, and on. Basically everything you need, in other words. Good for: Lights, trees, wreaths, stockings, ornamentsWorth a look:Small Metal Truck Decorative Figurine (small)Dew Drop Wrapped Star Decorative Figurine in Champagne (small)3.5-Foot Pre-Lit White Alberta Spruce Artificial Tree (small) Michaels Michaels Michaels was made for people who look at a premade wreath and think, "I could do that."Many people are looking for indoor activities this year, and making holiday decorations will both save you some money and keep you busy. Ribbons and decoratable ornaments are available at Michaels, as is everything you need to create your own holiday cards.In addition, Michaels also has DIY-less decor, from LED candles to tree skirts to Lemax Christmas villages. Even your mailbox doesn't have to feel left out. If yours is a Hanukkah household, this cookie-house decorating kit comes with a sugar mezuzah. Good for: Homemade ornaments, tree skirts, stockings, bowsWorth a look:Plaid Joy Christmas Stocking Holders Set (small, Preferred: Michaels)9ft. Pre-Lit Pine Artificial Christmas Tree, Warm White LED Lights (small, Preferred: Michaels)Haute Decor Lighted Merry Christmas Wood Blocks (small) L.L.Bean L.L.Bean L.L.Bean's Christmas selection is limited, but you still may find exactly what you're looking for, especially if you want a traditional vibe. While L.L.Bean doesn't have the breadth of holiday goods of some of the other retailers on the list, it does offer a number of items that fit in with a rustic vibe. Birchbark centerpieces, plaid tree skirts, and flannel sheets are unfussy yet still festive. (They're also our favorites in our guide to the best flannel sheets.)The store also has quite a few choices when it comes to needlepoint stockings to hang from the fireplace. These can be personalized, too, so no one has to know you didn't break out the needle and thread yourself.  Good for: Flannel sheets, stockingsWorth a look:Birch Box Centerpiece (small, Preferred: L.L.Bean)Christmas Needlepoint Stocking (small, Preferred: L.L.Bean)Woodland Advent Calendar (small, Preferred: L.L.Bean) Paper Source Paper Source Stationery store Paper Source has some spectacular holiday wrapping paper, quirky ornaments, and fun decor. It can be fun to match tree decor with the presents that go under them. Paper Source has an impressive selection of wrapping paper, ranging from ice skating animals to some sassy Santas. There are also elegant and artistic options. Finish them up with ribbons and gift tags. You can also find some cute ornaments, like this homage to Ranch dressing. Adorable advent calendars, pompom tree skirts, and squishy reindeer plush toys are also on offer. Paper Source also has some holiday craft kits, including an ambitious-looking snowflake garland. Good for: Wrapping paper, holiday cards Worth a look:Tinsel Bow Bag (small, Preferred: Paper Source)Glass Bulb Tree String Lights (small)Felt Penguin Ornament (small) Amazon Amazon For holiday decor, Amazon covers all the bases, no matter what you're looking for. Amazon is a one-stop shop for many, and Christmas decorations are no exception. Sometimes you don't want to spend hours decorating but still want your home to feel cheery. Pillows are an easy way to instantly make a couch or bedroom holiday-ready. Window decals are equally quick to put up and take down. Or add some brightness to your porch with a light-up gift display, which is easier than stringing up a ton of bulbs. If you do want to go that route, the retailer has lots of lighting choices, including strands of snowflakes and star-topped strings and stars all on their own. Since it's Amazon, you also pick up your tree and probably everything you want to go on it (and under it), too. Good for: Christmas lights, outdoor decorations, artificial treesWorth a look:Scandinavian Christmas Gnome Lights (small, Preferred: Amazon)Lighted Christmas Snow Globe Lantern (small)Flannel Collection Premium Cotton Bedding Sheet Set (small, Preferred: Amazon) CB2 CB2 If you like the modern aesthetic, CB2's holiday decorations match its furniture in both quality and vibe. Not everyone will find something in CB2's holiday section. The collection veers toward a particular style: modern and simple, with fairly muted colors. Metallics, black, and white all show up frequently. Many of the items are elegant and unique. The feathery wreaths are unusual and eye-catching. Acrylic nutcrackers, marble trees, and glass snowmen are modern twists on traditional favorites. CB2 also bundles some of its decorations, so you can save a bit of money if you find several items you love.Also, if you're in the market for unique menorahs, CB2 has a couple.Good for: Knickknacks, ornamentsWorth a look:Paz Steel and Frosted Glass Trees (set of 4) (small)36-Inch Faux Ivory Pampas Grass Wreath (small)Silver and Black Ball Garland (small) The Home Depot Home Depot The Home Depot has an impressive selection of outdoor holiday decorations, but they don't neglect the indoors, either. The Home Depot has everything you'd expect from a hardware store at Christmas, including artificial trees, outdoor inflatables, and yard ornaments. But it also has much more. You can buy outdoor trees, many of which are pre-lit — very nice if you're in a cold climate. There are also pages and pages of Christmas lights on Home Depot's website. Helpfully, you can narrow the choices in all sorts of ways, from color to power source to bulb shape to length. There are also tons of light projectors if you want to illuminate the outside of your home with very little effort. Good for: Christmas lights, outdoor decor, artificial trees, light projectorsWorth a look:6.5-Foot LED the Child and Mandalorian Christmas Inflatable (small)180-Light LED Carriage with 43 in LED Horse (small, Preferred: Home Depot)7.5 ft. Swiss Mountain Black Spruce Twinkly Rainbow Christmas Tree with 600 RGB LED Technology Lights (small, Preferred: Home Depot) Etsy Ren Fuller/Etsy Etsy's beginning to look a lot like Christmas, and it's the best place to find handmade, vintage, or unique decorations.Etsy has plentiful options when it comes to finding fun and festive holiday decorations. Search by type of decor (wreath) or by style (rustic or glam). There are candles that smell like a freshly cut tree or Grinch repellant. (You can actually choose your scent for that one.)For the table, you can find tree-adorned napkins, lighted centerpieces, and reindeer mugs. Etsy is also a great place to find ornaments of your favorite animal: otters, hippos, narwhals, octopuses, and other water-loving creatures. It's important to pay attention to sellers' locations and shipping options to make sure you get your goods before the holidays are over. Good for: Wreaths, personalized ornaments, wrapping paper, pillowsWorth a look:Personalized T Rex Christmas Sack (small, Preferred: Etsy)Santa Wreath (small, Preferred: Etsy)Personalized Reindeer Mugs (small, Preferred: Etsy) Society6 Society6 If you love to decorate every room of your house — including the bathroom — you'll want to take a look at Society6. Society6's marketplace lets you purchase designs — many created by independent artists — in just about any form, from clocks to comforters to mugs. That means you can get a matching bath mat and shower curtain with T-Rexes in Santa hats. Decorative hand towels are also an option. Add some pillows and throws to cozy up the couch, and your home will instantly look festive. If you care as much about what's under the tree as what's on it, then just any wrapping paper won't do. Cover your gifts in an ugly sweater pattern (which is actually kind of cute) or gingerbread villages. For those who don't have a ton of holiday cards to send, the stationery sets are cute (but pricey), especially this cat tangled up in Christmas lights. Good for: Wrapping paper, pillows, blanketsWorth a look:Merry Christmas, Ya Filthy Animal – Red Throw Pillow (small, Preferred: Society6)Retro Ski Illustration Throw Blanket (small, Preferred: Society6)Slothy Holidays Shower Curtain (small, Preferred: Society6) Read the original article on Business Insider.....»»

Category: topSource: businessinsiderNov 1st, 2021

Futures Flat As Bitcoin Nears All-Time High, Yen Tumbles To 4 Year Low

Futures Flat As Bitcoin Nears All-Time High, Yen Tumbles To 4 Year Low US index futures were little changed as investors weighed the start of the earnings season against growing stagflation, tightening, energy crisis, China property and supply risks. S&P 500 futures were flat after the cash index edged closer to a record on Tuesday, rising above 4,500. Contracts on the Nasdaq 100 were also unchanged after the main index rallied for the past five days. At 7:30 a.m. ET, Dow e-minis were down 8 points, or 0.02%, S&P 500 e-minis were down 1 point, or 0.03%, and Nasdaq 100 e-minis were up 5 points, or 0.03%. Oil was down and the dollar steadied. Bitcoin traded just shy of its all time high overnight, and was last seen around $64,000. The S&P closed higher on Tuesday with the biggest boosts from the technology and healthcare sectors amid optimism about solid third-quarter earnings season. The index is just 0.4% below its early September record close, while the Dow Jones Industrials average is 0.5% below its all-time high reached in mid-August. "Earlier this month, stagflation was the buzzword on Wall Street. But now excessive pessimism is receding, especially after strong U.S. retail sales data on Friday," said Norihiro Fujito, chief investment strategist at Mitsubishi UFJ Morgan Stanley Securities. "Tech shares and other high-growth shares that would have been sold on rising bond yields are rallying, which clearly shows that there is now strong optimism on upcoming earnings." The positive mood saw U.S. bond yields rising further, with the 10-year U.S. Treasuries yield climbing to 1.67% , a high last seen in May. Shorter yields dipped, however, with the two-year yield slipping to 0.404% from Monday's peak of 0.448% as traders took profits for now from bets that the U.S. Federal Reserve will turn hawkish at its upcoming policy meeting in early November. Investors expect the Fed to announce tapering of its bond buying and money markets futures are pricing in one rate hike later next year. "The Fed is likely to become more hawkish, probably tweaking its language on its assessment that inflation will be transient. While the Fed will maintain tapering is not linked to a future rate hike, the market will likely try to price in rate hikes and flatten the yield curve," said Naokazu Koshimizu, senior strategist at Nomura Securities. In premarket trading, Tesla edged 0.4% lower in the run up to its quarterly results after markets close, with investors awaiting details on its performance in China. Anthem rose 0.6% as the second largest health U.S. insurer raised its profit outlook for 2021 after beating third-quarter profit estimates. United Airlines Holdings gained 1.6% after the carrier reported a smaller quarterly loss than a year ago on travel rebound. Ford gained 1.9% after Credit Suisse upgraded the U.S. automaker’s stock to ‘outperform’ on EV transition. Oil majors Exxon Mobil and Chevron Corp slipped 0.7% and 0.6%, respectively, tracking crude prices. Meanwhile, Chinese technology ADRs climbed as jitters in the wake of President Xi Jinping’s regulatory crackdowns fade. Netflix’s global sensation “Squid Game” helped lure more customers than expected, the world’s largest streaming service said as it predicted a packed lineup would further boost signups through the end of the year. Its shares, however, fell 2.7% after hitting a record high earlier this month and gaining 18.2% year-to-date. Here are some of the other biggest U.S. movers today: Chinese tech stocks listed in the U.S. rally in premarket with Hong Kong peers as jitters in the wake of President Xi Jinping’s regulatory crackdowns fade; Pinduoduo (PDD US) +1.7%; Didi (DIDI US) +1.3% Alibaba (BABA US) jumped 6.7% in Hong Kong after reports that founder Jack Ma has traveled abroad for the first time in a year United Airlines (UAL US) gains 2% in U.S. premarket trading after the airline posted a narrower loss than expected despite the impact of the coronavirus delta variant. Cowen notes that 3Q was better than expected and also ahead of management’s last guidance from early September Novavax (NVAX US) shares fall as much as 25% in U.S. premarket trading after Politico reported a potential delay in registering its Covid-19 vaccine candidate with the U.S. Food and Drug Administration in connection with inadequate purity levels Vinco Ventures (BBIG US) shares slump 15% in premarket trading after the company reported the resignations of Chief Executive Officer Christopher Ferguson and Chief Financial Officer Brett Vroman Ford (F US) shares gain 1.7% premarket after Credit Suisse upgrades to outperform with joint Street-high target of $20 following a significant turnaround over the past year Stride (LRN US) gained 7.9% Tuesday postmarket after the education company forecast revenue for the full year that beat the highest analyst estimate WD-40 (WDFC US) sank 10% in postmarket trading after forecasting earnings per share for 2022 that missed the average analyst estimate Omnicom (OMC US) fell 3% in postmarket trading after third quarter revenue fell short of some analyst estimates Canadian National (CNI US) U.S.-listed shares rose 4.6% in postmarket trading after reporting adjusted earnings per share for the third quarter that beat the average analyst estimate Akero Therapeutics (AKRO US) shares rose as much as 12% in Tuesday extended trading after co. said the U.S Verizon Communication, Abbott Laboratories, Tesla Inc, Kinder Morgan and IBM are set to report their earnings later in the day.  Analysts expect S&P 500 earnings to rise 32.4% from a year earlier, according to Refinitiv data, while also keeping a close eye on growth outlook from companies that are faced with rising costs, labor shortages and supply chain disruptions. “Investor response to the latest set of earnings reports has been a touch hit and miss with supply chain issues dogging both Procter and Gamble and Philip Morris,” wrote Danni Hewson, financial analyst at AJ Bell in a client note. “After six quarters of beating earnings expectations, the focus may now shift to forward guidance for 2022 and away from the likely better than expected results for this quarter,” Clive Emery, a multi asset fund manager at Invesco said in a note. “If CEOs are more conservative, this could dent market pricing – especially after such strong moves in equity markets over the last 18 months.” In Europe, stocks were also little changed as gains in food and beverage stocks offset losses in miners which are some of the region’s steepest decliners as base metals slip after China launched a blitz of measures to tackle the energy crisis. The Stoxx Europe 600 basic resources index drops 2% as of 10:56am in London, worst performance among Stoxx 600 sectors. Here are some of the biggest European movers today: Falck Renewables shares rise as much as 15% after Infrastructure Investments Fund agreed to buy Falck SpA’s 60% stake in the company at EU8.81/share. IIF will launch a mandatory cash tender offer for Falck Renewables’ remaining share capital after the transaction. Husqvarna shares advance as much as 7.7%, the most intraday since May 2020, after reporting 3Q operating profit that Pareto Securities says is “substantially” stronger than expected. Getinge shares jump as much as 8.1% to a record high, leading the OMX Stockholm 30 index, after 3Q earnings which Handelsbanken (hold) says showed “impressive” order intake and operating leverage. Deliveroo shares jump as much as 4.9% to their highest level since Sept. 30, after the U.K. online food delivery firm hikes its growth forecast, which Jefferies says is an “aspiration” for players in the sector. Nestle shares advance as much as 3.9% after the world’s largest food company increased its sales outlook for the year. This along with the lack of a negative margin update “should be enough to reassure,” according to Citigroup. AutoStore Holdings shares jumped as much as 15% in its Oslo trading debut after pricing shares at the top end of the marketed range as an online shopping boom and labor shortages drive up demand for its automated warehouse robots. Kering SA shares tumbled as much as 5.8% after slowing growth at Gucci, its biggest brand, put more pressure on the label’s new collection to deliver a strong holiday season. Antofagasta shares slump as much as 6.3%, most intraday for two months, after the miner guides for lower copper production next year. Citi and Morgan Stanley analysts say 2022 outlook came in below expectations Kuehne + Nagel shares fall as much as 4.7% to their lowest level in five months after working- capital concerns outweighed a 3Q earnings beat for Swiss logistics operator. Earlier in the session, Asian stocks advanced with Hong Kong-listed tech shares extending their rally to a fourth day, buoyed by encouraging U.S. earnings and growing optimism that the strictest of China’s new regulations on tech firms may already be announced.  The MSCI Asia Pacific Index rose as much as 0.7%, powered by Alibaba Group Holding Ltd., which closed up 6.7%. The equity gauge also climbed after Johnson & Johnson raised its profit forecast and Netflix Inc. reported a jump in subscribers. Hong Kong and Australia were among the top-performing markets.  “Asian stocks appear to be taking their cue from the U.S. earnings season and are being bought on the back of the nascent technical confirmation,” said Justin Tang, the head of Asian research at United First Partners. The regional benchmark has gained 5% over the past two weeks as the earnings season progresses and inflation and supply chain worries ease. The measure is close to surpassing its 100-day moving average. Coal stocks listed in mainland China slumped after the nation’s top economic planner said it’s studying ways to intervene in the coal market as the government tries to rein in rising prices and curtail shortfalls. Meanwhile, expectations are falling that China’s central bank will ease monetary policy by cutting the amount of cash banks have to hold in reserve, according to a front-page story from the central bank’s own newspaper. Japanese equities eked out a second day of gains, driven by advances in telecommunications providers. Banks were also among the biggest boosts to the Topix, which rose less than 0.1%. SoftBank Group and Fast Retailing were the largest contributors to a 0.1% gain in the Nikkei 225. U.S. equities extended a rally on Tuesday as solid corporate results helped counter concerns stemming from elevated inflation. In Australia, the S&P/ASX 200 index rose 0.5% to 7,413.70, its highest close since Sept. 16. Banks boosted the index as a subgauge of financials hit a four-year peak. Kogan.com rallied after the company reported gross sales for the first quarter of A$330.5 million vs. A$273 million y/y. Whitehaven plunged after China’s top economic planner said it is studying ways to intervene in the coal market as the government tries to rein in rising prices and curtail shortfalls. In New Zealand, the S&P/NZX 50 index rose 0.4% to 13,114.24 In FX, the Bloomberg dollar index is little changed in London trade following yesterday’s slide and the greenback traded mixed against its Group-of-10 peers. The Treasury curve held on to yesterday’s steepening as the 2-year yield fell a second day, while the 10- year yield was steady after earlier rising to 1.67% for the first time since May. Norway’s krone was the worst G-10 performer as it fell from the European open, after yesterday reaching a four-month high versus the dollar. The pound slipped, reversing modest gains, after the U.K.’s September inflation reading came in lower than expectations; still, it’s well beyond the Bank of England’s target and it’s the last before the rate decision in November. Australia’s led G-10 gains and the sovereign bond curve bear steepened, tracking yesterday’s Treasury moves. The yen fell to weakest level in almost four years as traders added to bets on Fed rate hikes and rising oil prices boosted concern about the Japanese trade deficit. China’s offshore yuan extends its overnight softness after a weaker than expected fixing, with USD/CNH 0.25% higher. In rates, treasuries were narrowly mixed and off lows reached during Asia session after being led higher during European morning by gilts, where short maturities outperform. The 10-year TSY yield touched 1.67%, the highest level since May. The treasury futures rally stalled after a block sale in 10-year contracts, apparently fading strength. Treasury curve pivots around a little-changed 10-year sector, with front-end yields slightly richer on the day, long-end slightly cheaper; 5s30s, steeper by 2bp, extends rebound from Monday’s multimonth low; U.K. 10-year yield is lower by nearly 4bp. U.S. session includes 20-year bond auction.   Bunds and gilts ground higher in quiet trade, with curves having a small steepening bias. Long end USTs cheapen 1bp, gilts richen ~2.5bps at the short end. Peripheral spreads are marginally tighter to Germany. Italy’s green BTP syndication is well received with final books over EU48b. European equities fade a small opening dip to trade little changed. Price action is quiet, V2X drops toward 16 In commodities, crude futures drift lower. WTI drops 0.9% near $82.20, Brent is 1% lower holding above $84. Spot gold slowly extends Asia’s gains, rising $9 to trade near $1,780/oz. Most base metals are under pressure with LME copper and aluminum underperforming peers. In cryptocurrencies, bitcoin stood at $64,068, near its all-time peak of $64,895 as the first U.S. bitcoin futures-based exchange-traded fund began trading on Tuesday Looking at the day ahead now, and data releases include the UK and Canadian CPI readings for September, alongside the German PPI reading for the same month. From central banks, the Fed will be releasing their Beige Book, and we’ll hear from the Fed’s Bostic, Kashkari, Evans, Bullard and Quarles, as well as the ECB’s Villeroy, Elderson, Holzmann and Visco. Finally, today’s earnings releases include Tesla, Verizon Communications, Abbott Laboratories, NextEra Energy and IBM. Market Snapshot S&P 500 futures little changed at 4,509.50 MXAP up 0.4% to 200.82 MXAPJ up 0.5% to 661.79 Nikkei up 0.1% to 29,255.55 Topix little changed at 2,027.67 Hang Seng Index up 1.4% to 26,136.02 Shanghai Composite down 0.2% to 3,587.00 Sensex down 0.6% to 61,343.39 Australia S&P/ASX 200 up 0.5% to 7,413.67 Kospi down 0.5% to 3,013.13 STOXX Europe 600 little changed at 468.88 German 10Y yield rose 8.5 bps to -0.115% Euro little changed at $1.1628 Brent Futures down 0.9% to $84.32/bbl Gold spot up 0.5% to $1,777.33 U.S. Dollar Index little changed at 93.80 Top Overnight News from Bloomberg Business Secretary Kwasi Kwarteng said there won’t be a fresh lockdown of the U.K. economy even as Covid-19 cases tick upwards and Prime Minister Boris Johnson warns of a difficult winter ahead The recovery in France and in Europe “remains very strong,” Bank of France Governor Francois Villeroy de Galhau says on Wednesday during a National Assembly finance committee hearing The yen’s tough year is only going to get tougher as a rising tide of oil prices and global yields threatens to send Japan’s currency past 115 per dollar for the first time since 2017 PBOC Deputy Governor Pan Gongsheng says financial activities by China’s property sector and financial market prices are gradually becoming normal, China Business News reports, citing a speech at a forum in Beijing Sinic Holdings Group Co. became the latest Chinese real estate firm to default as investors wait to see whether China Evergrande Group Inc. will meet overdue interest payments on dollar bonds this week A more detailed look at global markets from Newsquawk Asian equity markets traded mostly positive as the region took its cue from the extended gains on Wall Street where sentiment was underpinned amid encouraging earnings results and with some hopes for a breakthrough on reconciliation as the White House and Democrats continued deliberations. ASX 200 (+0.5%) was led higher by outperformance in tech and with nearly all of its sectors in the green, while there were also gains seen in some of the blue-chip miners and across the big four banks. Nikkei 225 (+0.1%) was lifted by the weaker currency and following better than expected Exports and Imports data, although the index stalled just shy of the 29.5k level, while KOSPI (-0.5%) failed to hold on to opening gains with confirmation from North Korea that it fired a new submarine launched ballistic missile on Tuesday. Hang Seng (+1.4%) and Shanghai Comp. (-0.1%) were varied whereby Hong Kong was boosted by tech and health care with Alibaba leading the advances after it recently unveiled China’s most advanced chip and with its founder Jack Ma travelling abroad for the first time in over a year who is currently on a study tour in Spain. Conversely, the mainland was subdued alongside weakness in domestic commodity prices and despite a firmer liquidity effort by the PBoC, while the central bank provided no surprises in maintaining its benchmark Loan Prime Rates unchanged for the 18th consecutive month and a PBoC-backed paper also noted that expectations for a RRR cut during Q4 have eased. Finally, 10yr JGBs were lower amid spillover selling from global peers and recent curve steepening in US which desks attributed to positioning and upcoming supply, although the downside for JGBs was limited by the presence of the BoJ in the market for nearly JPY 1.4tln of JGBs heavily concentrated in 1yr-10yr maturities. Top Asian News Abu Dhabi’s Top Fund Backs Indonesia’s Largest Internet Firm Singapore Category E COE Price Rises to Highest Since Oct. 2013 China’s Liu He Says Property Market Risks Are Controllable: 21st Rio’s New CEO Starts Turnaround With $7.5 Billion Climate Pledge It’s been a choppy start to the session for European equities (Euro Stoxx 50 flat; Stoxx 600 flat) as opening losses were quickly trimmed after the cash open. Stocks in Europe were unable to benefit from the constructive APAC handover, which itself benefitted from a strong Wall St close as stocks in the US gained for a fifth consecutive session. As it stands, US equity index futures are relatively flat as indices succumb to the choppy price action with events on Capitol Hill not providing much guidance for price action as lawmakers strive to reach a deal on spending by the end of the week. Back to Europe and sectoral performance is somewhat mixed with clear outperformance in the Food & Beverage sector as earnings from Swiss heavyweight Nestle (+3.2%) provides support and prompts upside in the SMI (+0.7%). Nestle reported a beat on 9M revenues and raised FY guidance amid performance of coffee and pet food sales, whilst noting that it increased pricing in a “responsible manner” during Q3. Elsewhere in Switzerland, Roche (-1.0%) also beat on revenues and raised guidance but was unable to benefit from a lift in its share price. To the downside, Basic Resources lag amid softness in some base metals prices as well as a production update from Antofagasta (-4.2%) and a broker downgrade for Rio Tinto (-4.0%). Retail names are also trading on a softer footing after Q3 earnings from Kering (-4.0%) saw the Co. report a decline in consolidated revenues and note that performance for Gucci was hit by a resurgence of COVID-19 cases in Asia. H&M (-2.7%) is also weighing on the sector after a broker downgrade at Morgan Stanley. Elsewhere, Deliveroo (+3%) is seeing upside today after the Co. upgraded Gross Transaction Value (GTV) growth guidance. Additionally, in what has been a tough week for the Co., IAG (-3.6%) is seeing further losses after being downgraded at Peel Hunt. Finally, updates from the likes of materials name Akzo Nobel (supply chain woes) and semiconductor ASML (revenues fell short of expectations) have sent their shares lower by 1.5% and 1.7% respectively. Top European News Weidmann to to Step Down as Bundesbank Chief at End of Year Credit Suisse Dodges Bigger Fine With Debt-Forgiveness Vow Vinci Up After Reporting Higher 9m Sales; Guidance Confirmed Covid Tests Boost Roche Growth Once Again, Lifting Outlook In FX, the Index has recovered from yesterday's decline, which saw a base at 93.500 – matching the 32.8% Fib retracement of the September move, with the Index now eyeing the 21 DMA at 93.917 ahead of 94.000. The main stateside development has been on the fiscal front, where President Biden told Democrat lawmakers he believed they could secure an agreement for a tax and spending proposal valued at USD 1.75tln-1.90tln, whilst US progressive Democratic Rep. Jayapal said she feels even more optimistic after the White House meeting. As Republicans fully opposed Biden's plans, all Democrat votes are needed in the Senate, whilst only a few can be spared in the House. As a reminder, Congress set an Oct 31st deadline for the passage. Negotiations are expected to wrap up as soon as this week. Ahead, the stateside docket is quiet aside from several Fed regulars after the European close. NZD, AUD, CAD - The Kiwi stands as the current outperformer in a continuation of the strength seen as bets mount for a steeper RBNZ OCR hike at the upcoming meeting in light of the CPI metrics earlier this week. The NZD/USD pair also sees some technical tailwinds after failing to convincingly breach 0.7150 to the downside overnight. AUD/USD meanwhile eyes 0.7500 to the upside from a 0.7466 base with some potential support seen as China taps into Aussie coal amid surging demand. USD/CAD dips below 1.2350 but remains within yesterday's 1.2309-76 range ahead of Canadian CPI later – with headline Y/Y expected to tick higher to 4.3% from 4.1%. EUR, GBP - Both flat vs the Dollar and against each other. Sterling saw some mild weakness as UK CPI narrowly missed expectations at 3.1% vs exp. 3.2% for the headline Y/Y, in turn prompting market pricing to ease a touch as the dust settled – with the implied rate for the 4th Nov meeting modestly under 25bps vs 25.71bps heading into the release. That being said, the slight miss is likely not to provide enough ammunition for the BoE doves, whilst the hawks will likely continue to warn the dangers of persistently high inflation – ultimately not settling the debate on the MPC regarding how soon it should raise rates. GBP/USD fell back under its 100 DMA (1.3805) from a 1.3814 high. From a technical standpoint, aside from yesterday's 1.3833 peak, the pair sees the 200 DMA at 1.3846. EUR/USD meanwhile rebounded off its 21 DMA (1.1615) but remains under 1.1669 high, having seen little reaction to the unrevised Y/Y final EZ CPI metrics, although the M/M metrics were revised slightly higher as expected. Elsewhere, it is worth noting that ECB-hawk Weidmann has submitted his resignation to the Bundesbank and the ECB ahead of next week's Governing Council confab. JPY - The JPY is relatively flat intraday, but overnight price action was interesting as USD/JPY drifted to a high of 114.69, with participants recently flagging barriers just ahead of 115.00. Some have also cited Gatobi demand, where accounts In commodities, WTI and Brent Dec futures are marginally softer on the day in a continuation of the downward trajectory during US hours yesterday. WTI has dipped below USD 82/bbl (vs high USD 82.60/bbl) while its Brent counterpart hovers around USD 84.50/bbl (vs high USD 85.20/bbl). The subdued prices come amid a larger-than-expected build in Private inventories, although the internals were bullish, with the DoEs headline expected to print a build of some 1.8mln bbls. Elsewhere, the Iraqi energy minister has been vocal throughout the session, saying he expects oil prices to reach USD 100/bbl in Q1 and Q2 2022 – in contrast to comments he made last week which suggested that oil price is unlikely to increase further; whilst he also recently noted oil prices between USD 75-80/bbl is a fair price for producers and consumers. The Iraqi minister today said it is preferable for long-term oil prices between USD 75-85/bbl, and OPEC+ is now discussing ways to balance oil prices but no decision has yet been made to add more production above the agreed levels. Elsewhere, following India’s call on OPEC yesterday to lower prices, India’s HPCL executive says current oil prices are high for India; USD 60-70/bbl is comfortable and high oil prices may impact demand growth. Over to metals spot gold resides around its 50 DMA at USD 1,778/oz while spot silver eyes USD 24/bbl to the upside. Overnight, China’s coal intervention saw prices slump – with thermal coal futures hitting limit down and coke futures opening lower by 9%. LME copper prices are also softer, with the contract briefly dipping under USD 10k/t overnight. US Event Calendar 7am: Oct. MBA Mortgage Applications, prior 0.2% Oct. 20-Oct. 22: Sept. Monthly Budget Statement, est. -$59b, prior -$124.6b 2pm: U.S. Federal Reserve Releases Beige Book DB's Jim Reid concludes the overnight wrap Whilst inflation concerns are still very much bubbling under the surface of markets, risk appetite strengthened further yesterday thanks in no small part to decent earnings reports. There are no signs of widespread erosions of margins at the moment. Perhaps there is so much money sloshing about that for now prices are broadly being passed on. We’ll get a better picture of this as the earnings season develops. Indeed, the selloff from September feels like an increasingly distant memory now, with the S&P 500 (+0.74%) advancing for a 5th consecutive session to leave the index just 0.38% beneath all-time closing high from early September. Earlier Europe’s STOXX 600 (+0.33%) also moved higher. In the US, earnings supported sentiment yet again. 10 of the 11 companies reporting during New York trading beating estimates, whilst all 4 of the after-hours reporting beat as well. That brings the total number of reporters for the season thus far to 57, 50 of whom have beat earnings expectations. Most sectors were higher yesterday, with health care (+1.31%), utilities (+1.26%), and energy (+1.14%) leading the way; only consumer discretionary (-0.29%) lagged. We even saw the FANG+ index (+1.56%) of megacap tech stocks hit a new record ahead of Tesla’s earnings today, whilst the NASDAQ (+0.72%) was also up for a 5th consecutive session. Equities may be brushing off the inflation stories for now but they are hardly going away, as yesterday saw oil prices climb to fresh multi-year highs. Brent Crude was up +0.89% to close above $85/bbl for the first time since 2018, whilst WTI (+0.63%) similarly advanced to close just shy of $83/bbl, a mark not reached since 2014. And investor expectations of future inflation are still moving higher in many places, with the Euro Area 5y5y forward inflation swap up +4.0bps to 1.90%, also the highest level since 2014. Against this backdrop, sovereign bonds continued to selloff on both sides of the Atlantic, even though investors slightly pared back some of their Monday bets on near-term rate hikes by the Fed and the BoE. 10yr yields moved higher across the board, with those on Treasuries up +3.7bps to 1.64%, their highest closing level since early June, just as those on bunds (+4.3bps), OATs (+4.3bps) and BTPs (+4.8bps) similarly moved higher. It was a more divergent picture at the 2yr horizon however, with those on 2yr Treasuries down -3.0bps after five days of increases, whereas those on gilts were up +1.0bps. Watch out for UK inflation numbers shortly after this hits your inboxes although this may be the calm (due to base effects) before the inflationary storm in the coming months. From central banks, we had the latest global hike yesterday in Hungary, where the base rate was raised by 15bps to 1.80%, in line with consensus expectations, with Deputy Governor Virag saying afterwards that this monetary tightening was set to carry on into next year. However, we did get some pushback to recent market pricing from ECB chief economist Lane, who said that “If you look at market pricing of the forward interest rate curve, I think it’s challenging to reconcile some of the market views with our pretty clear rate forward guidance”. This didn’t really hit fixed income but it did see the euro pare back some of its gains against the US dollar yesterday, ending the session up just +0.08%, down from an intraday high of +0.51%. Asian equities have followed those moves higher overnight, with the Hang Seng (+1.71%), Nikkei (+0.27%), CSI (+0.08%) and Shanghai Composite (+0.03%) all trading higher, although the KOSPI (-0.11%) has lost ground. China’s property market continues to be in focus after home prices fell -0.08% in September, which is their first monthly decline since April 2015. Separately, Chinese coal futures (-8.00%) have snapped a run of 8 consecutive gains this morning after the country’s National Development and Reform Commission said that it wanted to ensure a rise in coal output to 12m tons per day, and that they would also be looking at other measures to intervene in the market. Outside of Asia, equity futures are pointing slightly lower, with those on the S&P 500 down -0.03%. The pandemic hasn’t been a major influence on markets in recent weeks but there may be some initial signs that the global decline in cases that we’ve seen since late August has stopped. Looking at data from John Hopkins University, the rolling weekly change in confirmed cases has ticked up on each of Saturday, Sunday and Monday. And although we shouldn’t over-interpret a few days’ numbers, we had already seen the rate of decline slow for 3 successive weeks now, which was probably to be expected given the time of year. We’re certainly coming up to a key period where a more indoor northern hemisphere life will combine with waning vaccine effectiveness to test the resolve of the authorities to maintain relatively restriction-free economies. Boosters may be key here. Once we get past this winter things may get easier particularly with new medicines in the pipeline like the viral pill from Merck that trials showed reduced hospitalisations and deaths by around half. On the data front, US housing starts fell to an annualised rate of 1.555m in September (vs. 1.615m expected), whilst building permits also fell to an annualised rate of 1.589m (vs. 1.680m expected). The previous month’s numbers were also revised down for both. Finally in the US, after an acrimonious weekend, Senators Sanders and Manchin expressed optimism they could agree on a framework for the next reconciliation bill by the end of the week in bilateral negotiations, which is set to contain a number of President Biden’s key legislative goals. To the day ahead now, and data releases include the UK and Canadian CPI readings for September, alongside the German PPI reading for the same month. From central banks, the Fed will be releasing their Beige Book, and we’ll hear from the Fed’s Bostic, Kashkari, Evans, Bullard and Quarles, as well as the ECB’s Villeroy, Elderson, Holzmann and Visco. Finally, today’s earnings releases include Tesla, Verizon Communications, Abbott Laboratories, NextEra Energy and IBM. Tyler Durden Wed, 10/20/2021 - 07:59.....»»

Category: smallbizSource: nytOct 20th, 2021

The 8 best artificial Christmas trees for Christmas 2021

An artificial Christmas tree saves you money and the hassle of dealing with a live tree. Here are the most realistic fake trees you can buy. When you buy through our links, Insider may earn an affiliate commission. Learn more. Puelo International/Facebook Artificial Christmas trees have come a long way and look more like the real thing than ever. Realistic and quality fake trees are available in a variety of sizes, shapes, and styles. To complete the look of your Christmas tree, check out our guide to the best tree decorations. Table of Contents: Masthead StickyThe artificial holiday trees of today aren't the aluminum monsters of the past. Many are made of high-quality combinations of PVC, polyethylene, and sometimes vinyl. You have to get up close and take a whiff before you realize they're not from a tree farm.Grabbing the artificial tree box from the basement will never equal the nostalgic thrill of chopping your own from a snowy field. However, a natural tree will never be convenient, no-mess, or perfectly symmetrical.After researching faux trees and assessing them for cost, convenience, beauty, and realism, we've found the best artificial trees you can buy this holiday season.Here are the best artificial Christmas trees: A classic faux blue spruce Balsam Hill The Balsam Hill Classic Blue Spruce Tree looks so real, you'll have to look twice to realize it's manufactured.The realistic color of the Balsam Hill Classic Blue Spruce is a major selling point. The shade is a very natural-looking deep green that will remind you of an authentic winter wonderland.The set-up is quick and easy so that anyone should be able to do it themselves in less than an hour. In addition to the tree itself, you'll also get a storage bag and two pairs of white gloves to aid in your branch-fluffing efforts.This highly rated tree is available in multiple sizes, ranging from 4.5 to 9 feet tall, and can be purchased with or without built-in clear LED lights. The only remaining problem is the lack of that beloved pine scent. But tree-scented candles and aromatherapy oils are getting more realistic, too. Problem solved.Classic Blue Spruce Artificial Tree (7 Feet) (button) A towering 10-foot artificial fir National Tree Company The 10-foot Pre-lit Dunhill Fir Tree by National Tree is the ideal artificial tree for people with high ceilings who want to impress guests.If you want your living room to look like the grand ballroom in The Nutcracker Ballet, then National Tree's 10-foot pre-lit Dunhill Fir Tree is your pick.This particular tree comes pre-lit with 1,500 perfectly spaced clear lights, so there's no fiddling with tangled strands or burnt-out bulbs — if one burns out, the others will stay lit. The metal stand is also included, so just add a tree skirt, your family's own traditional ornaments, a topper, and you're set for Santa.This tree is rather difficult to put up but looks amazing once it's done. So that's something to consider if you're planning to set it up by yourself. But two people should be able to set it up perfectly well with a bit of time and patience. Besides, at 10-feet tall, you can expect a little assembly time for any tree. A pre-lit Fraser fir pencil tree Amazon The Puleo International Pre-Lit Fraser Fir Pencil Artificial Christmas Tree is thin and tall, so it won't take up a lot of space. For minimalists who want to get the most convenience out of a faux Christmas tree, this pre-lit pencil fir tree from Puleo International is a great option. This high-quality tree comes with white lights wrapped around the trunk and branches for a hassle-free setup. The Fraser fir's narrow pencil shape looks sharp and elegant. This is an ideal tree for those with high ceilings but who live in a small space. Plus, you can adjust the branch tips to make the tree appear fuller or accommodate larger ornaments.  A budget-friendly stalwart Best Choice Products The 6-foot Best Choice Products Artificial Christmas Tree is a solid, sturdy tree that offers bang for your buck.This isn't the most realistic-looking tree on our list, but for the money, it's one of the best values out there. The tree is easy to set up, and the metal stand also drives up the functionality. It makes the tree a lot sturdier and less likely to tip than others that come with cheap plastic stands.You may have to do some creative branch fluffing to maintain a full-looking tree, but once you load it up with ornaments, lights, ribbons, and tinsel, you won't think twice about whether or not your purchase was worth it.If the perfect Pinterest-worthy tree is important to your holiday cheer, then you may want to up your budget. But if a solid tree with easy-as-pie setup and a cheap price tag sounds great to you, then deck the halls with this pick. A flocked tree for a snow-covered look Amazon If you want to fully embrace a winter wonderland look, the Best Choice Products Snow Flocked Artificial Christmas Tree looks like you plucked it out of a swirling snowfall.An artificial Christmas tree like Best Choice Products' Snow Flocked one comes almost pre-decorated. With its fully integrated white lights and the addition of a faux snow overlay, all you need to add are some ornaments or bows to make it your own.The tree comes in four heights ranging from 4.5 feet to 9 feet. Your tree will come in three sections that stack together with metal fixtures — no painstakingly installing individual branches. Like any artificial tree, you'll have to take some time to fluff branches for a full look. The all-metal stand provides a solid base.The flocking does tend to shed, so keep a vacuum handy during setup and breakdown.It also comes in an unlit version if you already have your own lights. A space-saving wall hugger Home Heritage The 5-foot Home Heritage Pre-Lit Half Christmas Tree is a good-sized tree that's perfect for small spaces.Trying to jam a majestic tree into your studio apartment or even a dorm room just got easier. With the Half Christmas Tree from Home Heritage, you don't have to limit yourself to a tiny tabletop tree. You can get the look of a full tree without sacrificing your precious floor space because it's basically a faux tree that's been cut in half.At 14-inches wide, you'll use up what will seem like a tiny amount of floor space for a tree this tall. If you're worried that the lack of width might make this tall tree tippy, some owners said the stand it comes with works perfectly to keep it upright, with no need to anchor it to the wall.There's also a 7-foot version if you have a bit more space that can accommodate a slightly taller and wider tree and a corner version is space is even tighter. A nontraditional ombre tree Treetopia The Treetopia Silver Shadow Ombre Artificial Christmas Tree is a modern conversation starter.If you want to expand your Christmas decor beyond the traditional, look no farther than this black-and-silver ombre tree from Treetopia.A sturdy metal base supports the 6-foot-tall tree shape composed of high-quality PVC and tinsel needles. The shape is tall and thin, like a real-life Douglas fir, but no one will be under the impression that this tree once grew in the ground.The fact that this tree doesn't strive to look "realistic" is actually one of its upsides. The shininess and sparkly color, combined with a perfectly cone-shaped silhouette, are the tree's top features.Treetopia is a highly praised and customer-friendly brand, and its trees tend to be high-quality yet on the low end of the pricing scale.You should have no trouble setting this one up yourself, but note that it may take a few days of fluffing and waiting for all the branches to lie perfectly symmetrically. A miniature tabletop tree Amazon The little Goplus 2-Foot Tabletop Christmas Tree arrives with no setup required — pop in three AA batteries and perch it wherever you need a bit of seasonal decor.The Goplus 2-Foot Tabletop Christmas Tree is the perfect faux tree for small spaces that need cheerful decor. The tree only weighs 2 pounds, so you can easily carry it wherever you need to go. With 71 branches to hold ornaments, you can still customize your artificial Christmas tree for a more traditional look. The miniature spruce comes with white lights decorated around the tree and has a cement base with festive red fabric wrapped around it.This tabletop Christmas tree is a budget- and space-friendly option for anyone looking for a simple but elegant tree for the holidays. FAQs Real versus artificial Christmas trees: What's the difference?Artificial Christmas trees are a fairly effortless alternative to purchasing or cutting down a real Christmas tree each year. A fake tree is a one-time purchase that you can use year after year without any hassle. However, real trees come with the opportunity to pick one out with friends or family, and they will fill your home with the sweet scents of the forest. Plus, real trees are biodegradable and easy to recycle through local curbside pick-up programs, or you can repurpose the wood for firewood, DIY crafts, and more. Real trees require consistent watering and can be hazardous if they dry out. Artificial trees do not require as much attention, and you won't have to deal with pesky pine needles dropping on the floor. If you're someone who tends to have bad allergies, a fake tree could be a better option.What are the benefits of fake Christmas trees?The convenient nature of a fake Christmas tree is one of the best reasons to invest in one. Every year you can be certain that you have a tree that you can decorate whenever. You'll know it fits in your house, and you won't have to worry about the cost after the initial purchase. In addition to ease of use, safety is another perk to artificial trees. Fake trees are fire-retardant, unlike a real tree that needs to be watered.The bottom line is that fake Christmas trees will likely make your life easier once you purchase one. If you aren't attached to the idea and aroma of a real tree, fake ones are a convenient alternative. Can I buy a real Christmas tree online?If you prefer a formerly living Tannenbaum for Christmas, several retailers will ship real Christmas trees to your front door. Stores like Lowe's and The Home Depot have real trees available to ship from tree farms across the country. Trees range anywhere from $30 to over $200, and there can be additional shipping costs. You can order a tree now, but most retailers don't ship the tree until mid to late November.What are artificial Christmas trees made of?Most artificial trees are made of a mix of plastics and metals. The most common type of plastic used is Polyvinyl Chloride, commonly referred to as PVC. This type of plastic is what makes artificial trees fire-retardant. How long does an artificial Christmas tree last? Artificial Christmas trees usually come with a cover or storage to protect them the 11 months out of the year they're not in use. With proper storage and light use around the holidays, artificial trees can last you up to 10 years. Many artificial trees come with warranties between three to 10 years. Since fake Christmas trees are made of PVC plastic and metal, you will have to throw them away in the trash. Artificial trees cannot be recycled, but if your tree is still in good condition, you can give it to a local charity or donation center. Check out our other great Christmas decorating guides Etsy The best tree skirtsThe best Christmas tree decorationsThe best Christmas stockingsThe best holiday lightsThe best Christmas decorationsThe best places to buy Christmas ornaments Read the original article on Business Insider.....»»

Category: topSource: businessinsiderOct 18th, 2021

Futures Reverse Losses Ahead Of Key CPI Report

Futures Reverse Losses Ahead Of Key CPI Report For the second day in a row, an overnight slump in equity futures sparked by concerns about iPhone sales (with Bloomberg reporting at the close on Tuesday that iPhone 13 production target may be cut by 10mm units due to chip shortages) and driven be more weakness out of China was rescued thanks to aggressive buying around the European open. At 800 a.m. ET, Dow e-minis were up 35 points, or 0.1%, S&P 500 e-minis were up 10.25 points, or 0.24%, and Nasdaq 100 e-minis were up 58.50 points, or 0.4% ahead of the CPI report due at 830am ET. 10Y yields dipped to 1.566%, the dollar was lower and Brent crude dropped below $83. JPMorgan rose as much as 0.8% in premarket trading after the firm’s merger advisory business reported its best quarterly profit. On the other end, Apple dropped 1% lower in premarket trading, a day after Bloomberg reported that the technology giant is likely to slash its projected iPhone 13 production targets for 2021 by as many as 10 million units due to prolonged chip shortages. Here are some of the biggest U.S. movers today: Suppliers Skyworks Solutions (SWKS US), Qorvo (ORVO) and Cirrus Logic (CRUS US) slipped Tuesday postmarket Koss (KOSS US) shares jump 23% in U.S. premarket trading in an extension of Tuesday’s surge after tech giant Apple was rebuffed in two patent challenges against the headphones and speakers firm Qualcomm (QCOM US) shares were up 2.7% in U.S. premarket trading after it announced a $10.0 billion stock buyback International Paper (IP US) in focus after its board authorized a program to acquire up to $2b of the company’s common stock; cut quarterly dividend by 5c per share Smart Global (SGH US) shares rose 2% Tuesday postmarket after it reported adjusted earnings per share for the fourth quarter that beat the average analyst estimate Wayfair (W US) shares slide 1.8% in thin premarket trading after the stock gets tactical downgrade to hold at Jefferies Plug Power (PLUG US) gains 4.9% in premarket trading after Morgan Stanley upgrades the fuel cell systems company to overweight, saying in note that it’s “particularly well positioned” to be a leader in the hydrogen economy Wall Street ended lower in choppy trading on Tuesday, as investors grew jittery in the run-up to earnings amid worries about supply chain problems and higher prices affecting businesses emerging from the pandemic. As we noted last night, the S&P 500 has gone 27 straight days without rallying to a fresh high, the longest such stretch since last September, signaling some fatigue in the dip-buying that pushed the market up from drops earlier this year. Focus now turn to inflation data, due at 0830 a.m. ET, which will cement the imminent arrival of the Fed's taper.  "A strong inflation will only reinforce the expectation that the Fed would start tapering its bond purchases by next month, that's already priced in," said Ipek Ozkardeskaya, senior analyst at Swissquote Bank. "Yet, a too strong figure could boost expectations of an earlier rate hike from the Fed and that is not necessarily fully priced in." The minutes of the Federal Reserve's September policy meeting, due later in the day, will also be scrutinized for signals that the days of crisis-era policy were numbered. Most European equities reverse small opening losses and were last up about 0.5%, as news that German software giant SAP increased its revenue forecast led tech stocks higher. DAX gained 0.7% with tech, retail and travel names leading. FTSE 100, FTSE MIB and IBEX remained in the red. Here are some of the biggest European movers today: Entra shares gain as much as 10% after Balder increases its stake and says it intends to submit a mandatory offer. Spie jumps as much as 10%, the biggest intraday gain in more than a year, after the French company pulled out of the process to buy Engie’s Equans services unit. Man Group rises as much as 8.3% after the world’s largest publicly traded hedge fund announced quarterly record inflows. 3Q21 net inflows were a “clear beat” and confirm pipeline strength, Morgan Stanley said in a note. Barratt Developments climbs as much as 6.3%, with analysts saying the U.K. homebuilder’s update shows current trading is improving. Recticel climbs 15% to its highest level in more than 20 years as the stock resumes trading after the company announced plans to sell its foams unit to Carpenter Co. Bossard Holding rises as much as 9.1% to a record high after the company reported 3Q earnings that ZKB said show strong growth. Sartorius gains as much as 5.9% after Kepler Cheuvreux upgrades to hold from sell and raises its price target, saying it expects “impressive earnings growth” to continue for the lab equipment company. SAP jumps as much as 5% after the German software giant increased its revenue forecast owing to accelerating cloud sales. Just Eat Takeaway slides as much as 5.8% in Amsterdam to the lowest since March 2020 after a 3Q trading update. Analysts flagged disappointing orders as pandemic restrictions eased, and an underwhelming performance in the online food delivery firm’s U.S. market. Earlier in the session, Asian stocks posted a modest advance as investors awaited key inflation data out of the U.S. and Hong Kong closed its equity market because of typhoon Kompasu. The MSCI Asia Pacific Index rose 0.2% after fluctuating between gains and losses, with chip and electronics manufacturers sliding amid concerns over memory chip supply-chain issues and Apple’s iPhone 13 production targets. Hong Kong’s $6.3 trillion market was shut as strong winds and rain hit the financial hub.  “Broader supply tightness continues to be a real issue across a number of end markets,” Morgan Stanley analysts including Katy L. Huberty wrote in a note. The most significant iPhone production bottleneck stems from a “shortage of camera modules for the iPhone 13 Pro/Pro Max due to low utilization rates at a Sharp factory in southern Vietnam,” they added. Wednesday’s direction-less trading illustrated the uncertainty in Asian markets as traders reassess earnings forecasts to factor in inflation and supply chain concerns. U.S. consumer price index figures and FOMC minutes due overnight may move shares. Southeast Asian indexes rose thanks to their cyclical exposure. Singapore’s stock gauge was the top performer in the region, rising to its highest in about two months, before the the nation’s central bank decides on monetary policy on Thursday. Japanese stocks fell for a second day as electronics makers declined amid worries about memory chip supply-chain issues and concerns over Apple’s iPhone 13 production targets.  The Topix index fell 0.4% to 1,973.83 at the 3 p.m. close in Tokyo, while the Nikkei 225 declined 0.3% to 28,140.28. Toyota Motor Corp. contributed the most to the Topix’s loss, decreasing 1.3%. Out of 2,181 shares in the index, 608 rose and 1,489 fell, while 84 were unchanged. Japanese Apple suppliers such as TDK, Murata and Taiyo Yuden slid. The U.S. company is likely to slash its projected iPhone 13 production targets for 2021 by as many as 10 million units as prolonged chip shortages hit its flagship product, according to people with knowledge of the matter Australian stocks closed lower as banks and miners weighed on the index. The S&P/ASX 200 index fell 0.1% to close at 7,272.50, dragged down by banks and miners as iron ore extended its decline. All other subgauges edged higher. a2 Milk surged after its peer Bubs Australia reported growing China sales and pointed to a better outlook for daigou channels. Bank of Queensland tumbled after its earnings release. In New Zealand, the S&P/NZX 50 index rose 0.2% to 13,025.18. In rates, Treasuries extended Tuesday’s bull-flattening gains, led by gilts and, to a lesser extent, bunds. Treasuries were richer by ~2bps across the long-end of the curve, flattening 5s30s by about that much; U.K. 30-year yield is down nearly 7bp, with same curve flatter by ~6bp. Long-end gilts outperform in a broad-based bull flattening move that pushed 30y gilt yields down ~7bps back near 1.38%. Peripheral spreads widen slightly to Germany. Cash USTs bull flatten but trade cheaper by ~2bps across the back end to both bunds and gilt ahead of today’s CPI release. In FX, the Bloomberg Dollar Spot Index fell by as much as 0.2% and the greenback weakened against all of its Group-of-10 peers; the Treasury curve flattened, mainly via falling yields in the long- end, The euro advanced to trade at around $1.1550 and the Bund yield curve flattened, with German bonds outperforming Treasuries. The euro’s volatility skew versus the dollar shows investors remain bearish the common currency as policy divergence between the Federal Reserve and the European Central Bank remains for now. The pound advanced with traders shrugging off the U.K.’s weaker-than-expected economic growth performance in August. Australia’s sovereign yield curve flattened for a second day while the currency underperformed its New Zealand peer amid a drop in iron ore prices. The yen steadied after four days of declines. In commodities, crude futures hold a narrow range with WTI near $80, Brent dipping slightly below $83. Spot gold pops back toward Tuesday’s best levels near $1,770/oz. Base metals are in the green with most of the complex up at least 1%. To the day ahead now, and the main data highlight will be the aforementioned US CPI reading for September, while today will also see the most recent FOMC meeting minutes released. Other data releases include UK GDP for August and Euro Area industrial production for August. Central bank speakers include BoE Deputy Governor Cunliffe, the ECB’s Visco and the Fed’s Brainard. Finally, earnings releases include JPMorgan Chase, BlackRock and Delta Air Lines. Market Snapshot S&P 500 futures up 0.1% to 4,346.25 STOXX Europe 600 up 0.4% to 459.04 MXAP up 0.2% to 194.60 MXAPJ up 0.4% to 638.16 Nikkei down 0.3% to 28,140.28 Topix down 0.4% to 1,973.83 Hang Seng Index down 1.4% to 24,962.59 Shanghai Composite up 0.4% to 3,561.76 Sensex up 0.8% to 60,782.71 Australia S&P/ASX 200 down 0.1% to 7,272.54 Kospi up 1.0% to 2,944.41 Brent Futures down 0.4% to $83.12/bbl Gold spot up 0.5% to $1,768.13 U.S. Dollar Index down 0.23% to 94.30 German 10Y yield fell 4.2 bps to -0.127% Euro little changed at $1.1553 Brent Futures down 0.4% to $83.12/bbl Top Overnight News from Bloomberg Vladimir Putin wants to press the EU to rewrite some of the rules of its gas market after years of ignoring Moscow’s concerns, to tilt them away from spot-pricing toward long-term contracts favored by Russia’s state run Gazprom, according to two people with knowledge of the matter. Russia is also seeking rapid certification of the controversial Nord Stream 2 pipeline to Germany to boost gas deliveries, they said. Federal Reserve Vice Chairman for Supervision Randal Quarles will be removed from his role as the main watchdog of Wall Street lenders after his title officially expires this week. The EU will offer a new package of concessions to the U.K. that would ease trade barriers in Northern Ireland, as the two sides prepare for a new round of contentious Brexit negotiations. U.K. Chancellor of the Exchequer Rishi Sunak is on course to raise taxes and cut spending to control the budget deficit, while BoE Governor Andrew Bailey has warned interest rates are likely to rise in the coming months to curb a rapid surge in prices. Together, those moves would mark a simultaneous major tightening of both policy levers just months after the biggest recession in a century -- an unprecedented move since the BoE gained independence in 1997. Peter Kazimir, a member of the ECB’s Governing Council, was charged with bribery in Slovakia. Kazimir, who heads the country’s central bank, rejected the allegations A more detailed look at global markets courtesy of Newsquawk Asia-Pac stocks were mixed following the choppy performance stateside with global risk appetite cautious amid the rate hike bets in US and heading into key events including US CPI and FOMC Minutes, while there were also mild headwinds for US equity futures after the closing bell on reports that Apple is set to reduce output of iPhones by 10mln from what was initially planned amid the chip shortage. ASX 200 (unch.) was little changed as gains in gold miners, energy and tech were offset by losses in financials and the broader mining sector, with softer Westpac Consumer Confidence also limiting upside in the index. Nikkei 225 (-0.3%) was pressured at the open as participants digested mixed Machinery Orders data which showed the largest M/M contraction since February 2018 and prompted the government to cut its assessment on machinery orders, although the benchmark index gradually retraced most its losses after finding support around the 28k level and amid the recent favourable currency moves. Shanghai Comp. (+0.4%) also declined as participants digested mixed Chinese trade data in which exports topped estimates but imports disappointed and with Hong Kong markets kept shut due to a typhoon warning. Finally, 10yr JGBs were steady with price action contained after the curve flattening stateside and tentative mood heading to upcoming risk events, although prices were kept afloat amid the BoJ’s purchases in the market for around JPY 1tln of JGBs predominantly focused on 1-3yr and 5-10yr maturities. Top Asian News Gold Edges Higher on Weaker Dollar Before U.S. Inflation Report RBA Rate Hike Expectations Too Aggressive, TD Ameritrade Says LG Electronics Has Series of Stock-Target Cuts After Profit Miss The mood across European stocks has improved from the subdued cash open (Euro Stoxx 50 +0.5%; Stoxx 600 +0.3%) despite a distinct lack of newsflow and heading into the official start of US earnings season, US CPI and FOMC minutes. US equity futures have also nursed earlier losses and trade in modest positive territory across the board, with the NQ (+0.5%) narrowly outperforming owing to the intraday fall in yields, alongside the sectorial outperformance seen in European tech amid tech giant SAP (+4.7%) upgrading its full FY outlook, reflecting the strong business performance which is expected to continue to accelerate cloud revenue growth. As such, the DAX 40 (+0.7%) outperformed since the cash open, whilst the FTSE 100 (-0.2%) is weighed on by underperformance in its heavyweight Banking and Basic Resources sectors amid a decline in yields and hefty losses in iron ore prices. Elsewhere, the CAC 40 (+0.3%) is buoyed by LMVH (+2.0%) after the luxury name topped revenue forecasts and subsequently lifted the Retail sector in tandem. Overall, sectors are mixed with no clear bias. In terms of individual movers, Volkswagen (+3.5%) was bolstered amid Handelsblatt reports in which the Co was said to be cutting some 30k jobs as costs are too high vs competitors, whilst separate sources suggested the automaker is said to be mulling spinning off its Battery Cell and charging unit. Chipmakers meanwhile see mixed fortunes in the aftermath of sources which suggested Apple (-0.7% pre-market) is said to be slashing output amid the chip crunch. Top European News The Hut Shares Swing as Strategy Day Feeds Investor Concern U.K. Economy Grows Less Than Expected as Services Disappoint Man Group Gets $5.3 Billion to Lift Assets to Another Record Jeff Ubben and Singapore’s GIC Back $830 Million Fertiglobe IPO In FX, the Dollar looks somewhat deflated or jaded after yesterday’s exertions when it carved out several fresh 2021 highs against rival currencies and a new record peak vs the increasingly beleaguered Turkish Lira. In index terms, a bout of profit taking, consolidation and position paring seems to have prompted a pull-back from 94.563 into a marginally lower 94.533-246 range awaiting potentially pivotal US inflation data, more Fed rhetoric and FOMC minutes from the last policy meeting that may provide more clues or clarity about prospects for near term tapering. NZD/GBP - Both taking advantage of the Greenback’s aforementioned loss of momentum, but also deriving impetus from favourable crosswinds closer to home as the Kiwi briefly revisited 0.6950+ terrain and Aud/Nzd retreats quite sharply from 1.0600+, while Cable has rebounded through 1.3600 again as Eur/Gbp retests support south of 0.8480 yet again, or 1.1800 as a reciprocal. From a fundamental perspective, Nzd/Usd may also be gleaning leverage from the more forward-looking Activity Outlook component of ANZ’s preliminary business survey for October rather than a decline in sentiment, and Sterling could be content with reported concessions from the EU on NI customs in an effort to resolve the Protocol impasse. EUR/CAD/AUD/CHF - Also reclaiming some lost ground against the Buck, with the Euro rebounding from around 1.1525 to circa 1.1560, though not technically stable until closer to 1.1600 having faded ahead of the round number on several occasions in the last week. Meanwhile, the Loonie is straddling 1.2450 in keeping with WTI crude on the Usd 80/brl handle, the Aussie is pivoting 0.7350, but capped in wake of a dip in Westpac consumer confidence, and the Franc is rotating either side of 0.9300. JPY - The Yen seems rather reluctant to get too carried away by the Dollar’s demise or join the broad retracement given so many false dawns of late before further depreciation and a continuation of its losing streak. Indeed, the latest recovery has stalled around 113.35 and Usd/Jpy appears firmly underpinned following significantly weaker than expected Japanese m/m machinery orders overnight. SCANDI/EM - Not much upside in the Sek via firmer Swedish money market inflation expectations and perhaps due to the fact that actual CPI data preceded the latest survey and topped consensus, but the Cnh and Cny are firmer on the back of China’s much wider than forecast trade surplus that was bloated by exports exceeding estimates by some distance in contrast to imports. Elsewhere, further hawkish guidance for the Czk as CNB’s Benda contends that high inflation warrants relatively rapid tightening, but the Try has not derived a lot of support from reports that Turkey is in talks to secure extra gas supplies to meet demand this winter, according to a Minister, and perhaps due to more sabre-rattling from the Foreign Ministry over Syria with accusations aimed at the US and Russia. In commodities, WTI and Brent front-month futures see another choppy session within recent and elevated levels – with the former around USD 80.50/bbl (80.79-79.87/bbl) and the latter around 83.35/bbl (83.50-82.65/bbl range). The complex saw some downside in conjunction with jawboning from the Iraqi Energy Minster, who state oil price is unlikely to increase further, whilst at the same time, the Gazprom CEO suggested that the oil market is overheated. Nonetheless, prices saw a rebound from those lows heading into the US inflation figure, whilst the OPEC MOMR is scheduled for 12:00BST/07:00EDT. Although the release will not likely sway prices amidst the myriad of risk events on the docket, it will offer a peek into OPEC's current thinking on the market. As a reminder, the weekly Private Inventory report will be released tonight, with the DoE's slated for tomorrow on account of Monday's Columbus Day holiday. Gas prices, meanwhile, are relatively stable. Russia's Kremlin noted gas supplies have increased to their maximum possible levels, whilst Gazprom is sticking to its contractual obligations, and there can be no gas supplies beyond those obligations. Over to metals, spot gold and silver move in tandem with the receding Buck, with spot gold inching closer towards its 50 DMA at 1,776/oz (vs low 1,759.50/oz). In terms of base metals, LME copper has regained a footing above USD 9,500/t as stocks grind higher. Conversely, iron ore and rebar futures overnight fell some 6%, with overnight headlines suggesting that China has required steel mills to cut winter output. Further from the supply side, Nyrstar is to limit European smelter output by up to 50% due to energy costs. Nyrstar has a market-leading position in zinc and lead. LME zinc hit the highest levels since March 2018 following the headlines US Event Calendar 8:30am: Sept. CPI YoY, est. 5.3%, prior 5.3%; MoM, est. 0.3%, prior 0.3% 8:30am: Sept. CPI Ex Food and Energy YoY, est. 4.0%, prior 4.0%; MoM, est. 0.2%, prior 0.1% 8:30am: Sept. Real Avg Weekly Earnings YoY, prior -0.9%, revised -1.4% 2pm: Sept. FOMC Meeting Minutes DB's Jim Reid concludes the overnight wrap So tonight it’s my first ever “live” parents evening and then James Bond via Wagamama. Given my daughter (6) is the eldest in her year and the twins (4) the youngest (plus additional youth for being premature), I’m expecting my daughter to be at least above average but for my boys to only just about be vaguely aware of what’s going on around them. Poor things. For those reading yesterday, the Cameo video of Nadia Comanenci went down a storm, especially when she mentioned our kids’ names, but the fact that there was no birthday cake wasn’t as popular. So I played a very complicated, defence splitting 80 yard through ball but missed an open goal. Anyway ahead of Bond tonight, with all this inflation about I’m half expecting him to be known as 008 going forward. The next installment of the US prices saga will be seen today with US CPI at 13:30 London time. This is an important one, since it’s the last CPI number the Fed will have ahead of their next policy decision just 3 weeks from now, where investors are awaiting a potential announcement on tapering asset purchases. Interestingly the August reading last month was the first time so far this year that the month-on-month measure was actually beneath the consensus expectation on Bloomberg, with the +0.3% growth being the slowest since January. Famous last words but this report might not be the most interesting since it may be a bit backward looking given WTI oil is up c.7.5% in October alone. In addition, used cars were up +5.4% in September after falling in late summer. So given the 2-3 month lag for this to filter through into the CPI we won’t be getting the full picture today. I loved the fact from his speech last night that the Fed’s Bostic has introduced a “transitory” swear jar in his office. More on the Fedspeak later. In terms of what to expect this time around though, our US economists are forecasting month-on-month growth of +0.41% in the headline CPI, and +0.27% for core, which would take the year-on-year rates to +5.4% for headline and +4.1% for core. Ahead of this, inflation expectations softened late in the day as Fed officials were on the hawkish side. The US 10yr breakeven dropped -1.9bps to 2.49% after trading at 2.527% earlier in the session. This is still the 3rd highest closing level since May, and remains only 7bps off its post-2013 closing high. Earlier, inflation expectations continued to climb in Europe, where the 5y5y forward inflation swap hit a post-2015 high of 1.84%. Also on inflation, the New York Fed released their latest Survey of Consumer Expectations later in the European session, which showed that 1-year ahead inflation expectations were now at +5.3%, which is the highest level since the survey began in 2013, whilst 3-year ahead expectations were now at +4.2%, which was also a high for the series. The late rally in US breakevens, coupled with lower real yields (-1.6bps) meant that the 10yr Treasury yield ended the session down -3.5bps at 1.577% - their biggest one day drop in just over 3 weeks. There was a decent flattening of the yield curve, with the 2yr yield up +2.0bps to 0.34%, its highest level since the pandemic began as the market priced in more near-term Fed rate hikes. In the Euro Area it was a very different story however, with 10yr yields rising to their highest level in months, including among bunds (+3.5bps), OATs (+2.9bps) and BTPs (+1.0bps). That rise in the 10yr bund yield left it at -0.09%, taking it above its recent peak earlier this year to its highest closing level since May 2019. Interestingly gilts (-4.0bps) massively out-performed after having aggressively sold off for the last week or so. Against this backdrop, equity markets struggled for direction as they awaited the CPI reading and the start of the US Q3 earnings season today. By the close of trade, the S&P 500 (-0.24%) and the STOXX 600 (-0.07%) had both posted modest losses as they awaited the next catalyst. Defensive sectors were the outperformers on both sides of the Atlantic. Real estate (+1.34%) and utilities (+0.67%) were among the best performing US stocks, though some notable “reopening” industries outperformed as well including airlines (+0.83%), hotels & leisure (+0.51%). News came out after the US close regarding the global chip shortage, with Bloomberg reporting that Apple, who are one of the largest buyers of chips, would revise down their iPhone 13 production targets for 2021 by 10 million units. Recent rumblings from chip producers suggest that the problems are expected to persist, which will make central bank decisions even more complicated over the coming weeks as they grapple with increasing supply-side constraints that push up inflation whilst threatening to undermine the recovery. Speaking of central bankers, Vice Chair Clarida echoed his previous remarks and other communications from the so-called “core” of the FOMC that the current bout of inflation would prove largely transitory and that underlying trend inflation was hovering close to 2%, while admitting that risks were tilted towards higher inflation. Atlanta Fed President Bostic took a much harder line though, noting that price pressures were expanding beyond the pandemic-impacted sectors, and measures of inflation expectations were creeping higher. Specifically, he said, “it is becoming increasingly clear that the feature of this episode that has animated price pressures — mainly the intense and widespread supply-chain disruptions — will not be brief.” His ‘transitory swear word jar’ for his office was considerably more full by the end of his speech. As highlighted above, while President Bostic spoke US 10yr breakevens dropped -2bps and then continued declining through the New York afternoon. In what is likely to be Clarida’s last consequential decision on monetary policy before his term expires, he noted it may soon be time to start a tapering program that ends in the middle of next year, in line with our US economics team’s call for a November taper announcement. In that vein, our US economists have updated their forecasts for rate hikes yesterday, and now see liftoff taking place in December 2022, followed by 3 rate increases in each of 2023 and 2024. That comes in light of supply disruptions lifting inflation, a likely rise in inflation expectations (which are sensitive to oil prices), and measures of labour market slack continuing to outperform. For those interested, you can read a more in-depth discussion of this here. Turning to commodities, yesterday saw a stabilisation in prices after the rapid gains on Monday, with WTI (+0.15%) and Brent Crude (-0.27%) oil prices seeing only modest movements either way, whilst iron ore prices in Singapore were down -3.45%. That said it wasn’t entirely bad news for the asset class, with Chinese coal futures (+4.45%) hitting fresh records, just as aluminium prices on the London Metal Exchange (+0.13%) eked out another gain to hit a new post-2008 high. Overnight in Asia, equity markets are seeing a mixed performance with the KOSPI (+1.24%) posting decent gains, whereas the CSI (-0.06%), Nikkei (-0.22%) and Shanghai Composite (-0.69%) have all lost ground. The KOSPI’s strength came about on the back of a decent jobs report, with South Korea adding +671k relative to a year earlier, the most since March 2014. The Hong Kong Exchange is closed however due to the impact of typhoon Kompasu. Separately, coal futures in China are up another +8.00% this morning, so no sign of those price pressures abating just yet following recent floods. Meanwhile, US equity futures are pointing to little change later on, with those on the S&P 500 down -0.12%. Here in Europe, we had some fresh Brexit headlines after the UK’s Brexit minister, David Frost, said that the Northern Ireland Protocol “is not working” and was not protecting the Good Friday Agreement. He said that he was sharing a new amended Protocol with the EU, which comes ahead of the release of the EU’s own proposals on the issue today. But Frost also said that “if we are going to get a solution we must, collectively, deliver significant change”, and that Article 16 which allows either side to take unilateral safeguard measures could be used “if necessary”. Elsewhere yesterday, the IMF marginally downgraded their global growth forecast for this year, now seeing +5.9% growth in 2021 (vs. +6.0% in July), whilst their 2022 forecast was maintained at +4.9%. This masked some serious differences between countries however, with the US downgraded to +6.0% in 2021 (vs. +7.0% in July), whereas Italy’s was upgraded to +5.8% (vs. +4.9% in July). On inflation they said that risks were skewed to the upside, and upgraded their forecasts for the advanced economies to +2.8% in 2021, and to +2.3% in 2022. Looking at yesterday’s data, US job openings declined in August for the first time this year, falling to 10.439m (vs. 10.954m expected). But the quits rate hit a record of 2.9%, well above its pre-Covid levels of 2.3-2.4%. Here in the UK, data showed the number of payroll employees rose by +207k in September, while the unemployment rate for the three months to August fell to 4.5%, in line with expectations. And in a further sign of supply-side issues, the number of job vacancies in the three months to September hit a record high of 1.102m. Separately in Germany, the ZEW survey results came in beneath expectations, with the current situation declining to 21.6 (vs. 28.0 expected), whilst expectations fell to 22.3 (vs. 23.5 expected), its lowest level since March 2020. To the day ahead now, and the main data highlight will be the aforementioned US CPI reading for September, while today will also see the most recent FOMC meeting minutes released. Other data releases include UK GDP for August and Euro Area industrial production for August. Central bank speakers include BoE Deputy Governor Cunliffe, the ECB’s Visco and the Fed’s Brainard. Finally, earnings releases include JPMorgan Chase, BlackRock and Delta Air Lines. Tyler Durden Wed, 10/13/2021 - 08:13.....»»

Category: blogSource: zerohedgeOct 13th, 2021

Futures Slide As Soaring Oil Nears $85

Futures Slide As Soaring Oil Nears $85 While cash bonds may be closed today for Columbus Day, which may or may not be a holiday - it's difficult to know anymore with SJW snowflakes opinions changing by the day - US equity futures are open and they are sliding as soaring oil prices add to worries over growing stagflation (Goldman and Morgan Stanley both slashed their GDP estimates over the weekend even as they both see rising inflation), fueling concern that a spreading energy crisis could hamper economic recovery (as a reminder, yesterday we had one, two, three posts on stagflation, showing just how freaked out Wall Street suddenly is). Rising raw material costs, labor shortages and other supply chain bottlenecks have raised concerns of elevated prices hammering corporate profits while rising rates are suggesting that a tidal wave of inflation is coming. And while cash bonds may be closed, one can easily extrapolate where they would be trading based on TSY futures which are currently trading at a 1.65% equivalent. But while cash bonds may be closed, the big mover on Monday was oil, with WTI surging nearly 3% and touched a seven-year high as an energy crisis gripping the major economies showed no sign of easing. Meanwhile, Brent rose just shy of $85, rising to the highest since late 2018 when the Fed abruptly reversed tightening course. Over in China, coal futures reached a record as flooding shuttered mines. The surge in oil lifted shares of Chevron Corp, Exxon Mobil Corp and APA Corp between 1.2% and 3% in premarket trading. At the same time, rising rates hit FAAMGs, with Apple, Microsoft and Amazon all falling between 0.6% and 0.8%. The surge above 1.6% for 10-year Treasury yields is intensifying debate among strategists over how to position investor portfolios amid anxiety over whether transitory inflation is transitioning into stagflation. Lucid Group rose 2.2% and Occidental Petroleum climbed 3.1%, leading gains in the U.S. premarket session. Here are some of the biggest movers and stocks to watch today: U.S.-listed Chinese tech stocks soar 2% to 5% in premarket trading, extending their recent rebound. Rally supported by Beijing slapping a smaller-than-expected fine on food delivery giant Meituan and last week’s news that U.S. President Joe Biden was planning to meet with Xi Jinping before the end of the year. Alibaba (BABA US +5%) leads gains, while JD.com (JD US) and Baidu (BIDU US) rise 2% apiece Watch U.S. energy stocks as oil surges past $80 a barrel as the global power crunch rattled a market in which OPEC+ has only been restoring output at a modest pace. Exxon Mobil (XOM US +1.1%), Chevron (CVX US +1%) and Occidental (OXY US +3.1%) among top risers in premarket trading. Robinhood (HOOD US) dropped 2%; the company was under pressure in U.S. premarket trading as a looming share sale by early investors and a toughening regulatory environment for cryptocurrencies are adding to the headwinds in the stock market for the darling of the U.S. retail trading mania. ChemoCentryx (CCXI US) up 2% in U.S. premarket trading, adding to Friday’s massive gains after the drug developer won U.S. approval for Tavneos as a treatment for a rare autoimmune disorder Cloudflare (NET US) slides 1.8% in U.S. premarket trading after Piper Sandler downgraded stock to neutral Akerna Corp. (KERN US) gained in Friday postmarket trading after Matthew Ryan Kane, a board member, bought $346,032 of shares, according to a filing with the U.S. Securities & Exchange Commission. “We see rising risks to global growth and evidence of more persistent inflation, which makes us more cautious on the outlook for global markets overall,” Salman Ahmed, global head of macro and strategic asset allocation at Fidelity International, wrote in a note to clients. In Europe, the Stoxx 600 Index fell 0.2%, led by declines in travel and property firms. Miners and energy stocks were the two strongest-performing sectors in Europe on Monday on rising prices for iron ore and oil. The Stoxx 600 Basic Resources Index climbed as much as 2.4%, while the Energy Index gains as much as 1.5% to the highest since Feb. 24, 2020. European banking stocks also advanced on Monday, following four weeks of gains, and traded about 1.3% below pre-pandemic high. The sector has gained 36% ytd, is the best performer among 20 European sectors in 2021. Up 0.7% today, outperforming a slightly weaker broader Stoxx 600 Index and as investors tilt toward cyclical sectors. Earlier in the session, Asian stocks jumped, buoyed by Hong Kong-listed technology shares including Meituan, which was consigned a lower-than-expected regulatory fine. The MSCI Asia Pacific Index climbed as much as 0.9%, driven by the consumer-discretionary and communication sectors. Alibaba and Meituan were the top contributors to the gauge, each surging about 8% in the first trading in Hong Kong after the food-delivery giant was handed a $533 million fine for violating anti-monopolistic practices.  The result of the investigation into Meituan is “a relief and likely to provide closure to the share price overhang,” Citigroup analysts wrote in a note Friday, when the penalty was announced.  Hong Kong’s stock gauge was among the top performing in the region. Japan’s benchmarks also climbed as the yen weakened to an almost three-year low against the dollar and new Prime Minister Fumio Kishida said he’s not considering changes to the country’s capital-gains tax at present. Improved sentiment in China is providing much-needed support to Asian equities, which declined for four straight weeks amid uncertainty circling global markets. Power shortages in China and India, supply-chain woes, inflation risks and rising bond yields are all on the radar as the earnings season kicks off. “We are still in a market that is very, very concerned about the growth outlook,” said Kyle Rodda, market analyst at IG Markets. These sort of rallies that appear almost inexplicable are “symptomatic of the market still trying to piece together all pieces of the puzzle,” he added. Australia The S&P/ASX 200 index fell 0.3% to close at 7,299.80, with most subgauges taking a hit. Miners advanced, posting gains for a third session, offsetting losses in healthcare and consumer discretionary stocks.  Star Entertainment was the worst performer after a report saying the company had enabled suspected money laundering, organized crime and fraud at its Australian casinos for years. Fortescue surged after the company said it plans to build a green energy factory to rival China.  In New Zealand, the S&P/NZX 50 index dropped 0.5% to 13,019.37. In FX, the pound crept higher to touch an almost 2-week high versus the dollar and the Gilt curve shifted higher, led by the front-end, after the Bank of England’s Michael Saunders, one of the most hawkish members of the Monetary Policy Committee, suggested in remarks published Saturday that investors were right to bring forward bets on rate hikes. Hours earlier, Governor Andrew Bailey warned of a potentially “very damaging” period of inflation unless policy makers take action. Australia’s dollar led gains among G-10 currencies on the back of increases in oil, natural gas and iron ore prices and as Sydney emerges from a 15- week lockdown on Monday. Iron ore futures extended gains as improved rebar margins at Chinese steel mills buoyed demand prospects. The yen dropped against the dollar, with analysts forecasting more weakness ahead as the nation’s yield differentials widen. As noted above, treasury futures slumped in U.S. trading Monday, with the cash market closed for Columbus Day; they implied a yield of 1.65% on the 10Y. 10-year note futures price is down 8+/32, a price change equivalent to a yield increase of about 3bp. Benchmark 10-year yield ended Friday at 1.615%, its highest closing level since June, as investors focused on the inflationary aspects in mixed September employment data. China's10-year government bond futures declined to a three-month low while the yuan advanced as the central bank’s latest liquidity draining weakened expectations of fresh monetary policy easing. Futures contracts on 10-year notes fall 0.4% to 99.14, the lowest level since July 12. It dropped 0.4% on Friday. 10-year sovereign bond yields rose 5bps, the biggest gains in two months, to 2.96%. Looking ahead, upcoming reports on third-quarter company profits which start this week are seen as the next potential pressure point in a market already under siege from slowing global growth, sticky inflation and tighter monetary policies. Global earnings revisions are sliding - an omen for U.S. stocks that have taken their cue from rising earnings estimates all year. “The coming earnings’ season in the U.S. will be heavily scrutinized for pricing power, margins and clues on the shortage situation, as well as wage pressures,” according to Geraldine Sundstrom, a portfolio manager at  Pacific Investment Management Co. in London. “Already a number of large multinationals have issued warnings about production cuts and downgraded their Q3 outlook due to supply chain and labor shortages.” Market Snapshot S&P 500 futures down 0.3% to 4,371.25 STOXX Europe 600 down 0.2% to 456.41 German 10Y yield up 1.5 bps to -0.135% Euro little changed at $1.1568 MXAP up 0.8% to 196.45 MXAPJ up 0.7% to 642.13 Nikkei up 1.6% to 28,498.20 Topix up 1.8% to 1,996.58 Hang Seng Index up 2.0% to 25,325.09 Shanghai Composite little changed at 3,591.71 Sensex up 0.5% to 60,358.30 Australia S&P/ASX 200 down 0.3% to 7,299.79 Kospi down 0.1% to 2,956.30 Brent Futures up 1.9% to $83.98/bbl Gold spot down 0.1% to $1,755.02 U.S. Dollar Index up 0.11% to 94.17 Top Overnight News from Bloomberg The U.S. labor market will see “ups and downs” as the pandemic lingers, but it’s premature to judge that the recovery is in peril, said San Francisco Federal Reserve President Mary Daly Treasury Secretary Janet Yellen said she expects Congress to take action soon to bring the U.S. into line with a global minimum tax agreed on last week by 136 countries Chinese builders are looking to payment extensions or debt exchanges to avoid default on imminent bond obligations as liquidity conditions tighten for the real estate sector Austria will get a new chancellor, though the career diplomat stepping into Sebastian Kurz’s shoes is a close ally of the departing conservative leader who resigned over a corruption scandal Just because pandemic inflation is transitory doesn’t mean it’s going away anytime soon. That’s the awkward conclusion that policy makers and investors are arriving at, as prices accelerate all over the world. European natural gas has climbed 25% in two weeks, and oil topped $80 for the first time since 2014. Fertilizers hit a record on Friday, which means food prices -- already at a 10- year peak -- will likely rise even higher A more detailed summary of overnight news from Newsquawk Asia-Pac stocks traded mostly positive but ended the day somewhat mixed after having shrugged off the early weakness stemming from last Friday’s lacklustre performance stateside and disappointing NFP jobs data. Note, markets in Taiwan and South Korea were closed. ASX 200 (-0.3%) was the laggard with underperformance in tech, consumer stocks and defensives overshadowing the gains in commodities and with Star Entertainment the worst hit with losses of more than 20% after media outlets alleged that it enabled suspected money laundering, organised crime, fraud and foreign interference which the Co. said were misleading reports. However, downside for the index was limited as New South Wales businesses reopened from the lockdown that lasted for over three months. Nikkei 225 (+1.6%) reversed opening losses as exporters cheered a weaker currency and with the government mulling over JPY 100bln financial support for chip factory construction. Hang Seng (+2.0%) and Shanghai Comp. (Unch) were both positive following talks between China's Vice Premier Liu He and USTR Tai on Saturday in which China was said to be negotiating for a cancellation of tariffs and sanctions. The advances in Hong Kong were led by tech stocks including Meituan despite the Co. being fined CNY 3.4bln by China’s market regulator for monopolistic behaviour, as the amount was seen to be a slap on the wrist, while the gains in the mainland were only mild as participants also reflected on the substantial liquidity drains by the PBoC totalling a net CNY 510bln since Saturday. Finally, 10yr JGBs were pressured amid the gains in Japanese stocks and lack of BoJ purchases in the market, while price action was also not helped by the continued weakness in T-note futures amid the semi-holiday conditions in US for Columbus Day in which the NYSE and the Nasdaq will open but bonds trading will remain shut. Top Asian News Australian IPOs Heading for Biggest Haul Since 2014: ECM Watch Syngenta’s Shanghai IPO Proposal Suspended For Earnings Update China Junk-Rated Dollar Bond Rout Deepens Amid Builder Worries China’s 10-Year Bond Yield Jumps By The Most Since August Bourses in Europe are mostly but modestly lower (Euro Stoxx 50 -0.1%, Stoxx 600 -0.2%) whilst the FTSE 100 (+0.2%) bucks the trend, owing to firm performances in its heavyweight sectors. US equity futures meanwhile trade within tight ranges with broad-based losses of some 0.3-0.4%. Fresh fundamental catalysts have remained light, although inflation and stagflation remain on traders' minds heading into this week's US and Chinese inflation metrics and against the backdrop of rising energy prices. Thus, the sector configuration sees Basic Resources, Oil & Gas and Banks at the top of the bunch, whilst the downside sees Travel & Leisure, Real Estate and Retail, with no overarching theme to be derived. Basic Resources is the marked outperformer as base metals are bolstered in what seems to be a function of the coal shortage in Asia, with iron ore contracts also surging overnight and copper following suit, in turn boosting the likes of Rio Tino (+3.2%), Antofagasta (+3.1%), Glencore (+3.1%), BHP (+2.8%). The top of the Stoxx 600 is dominated by metal names. In terms of individual movers, Carrefour (-2.2%) is softer after sources stated that exploratory talks over a Carrefour-Auchan tie-up ended due to the complexity of the deal. Evotec (+0.7%) holds onto gains as it seeks a Nasdaq listing. Roche (+0.6%) and Morphosys (+3.7%) underpin the health sector after the Cos received Breakthrough Therapy Designation from the US FDA for gantenerumab for the treatment of Alzheimer's disease. Top European News BOE Officials Double Down on Signals of Imminent Rate Hike Brexit Clash on Northern Ireland Means Headaches for Johnson Asos CEO Beighton Steps Down as Sales Growth Slows Adler Shares Flounder After Asset Disposal Plan, Past M&A Report In FX, the Aussie has secured a considerably firmer grip of the 0.7300 handle vs its US rival as COVID-19 restrictions are relaxed in NSW and base metals tread water after a mostly positive APAC equity session overnight. However, Aud/Usd is also firmer on the back of ongoing Greenback weakness and long liquidation from what some are calling ‘stretched’ levels of IMM positioning going in to Friday’s NFP release, while the Aud/Nzd cross has rebounded further above 1.0550 in wake of a rise in NZ virus cases that has prompted the PM to keep Auckland on level 3 alert for another week pending review. Hence, Nzd/Usd is capped around 0.6950 and continues to lag on the unwinding of Kiwi longs built up in advance of last week’s universally anticipated 25 bp RBNZ hike. Back to the Buck, but looking at the index in relation to where it was before and after the latest BLS report, 94.000 is providing some underlying support on Columbus Day that is not a full US market holiday, but will see cash Treasuries remain closed. Moreover, the DXY is gleaning momentum within a narrow 94.028-214 range via marked Yen underperformance amidst the latest rout in bonds and more pronounced technical impulses as Usd/Jpy extends beyond 112.50 and sets yet another 2021 peak around 112.95. GBP - Sterling is taking up post-payrolls Dollar slack as well, but firmer in its own right too as comments from BoE Governor Bailey and MPC member Saunders add to the growing expectation that rate hikes may be delivered sooner than had been expected before the former revealed that policy-setters were evenly divided at 4-4 in August on the subject of minimum criteria being achieved for tightening. Cable is hovering under 1.3650 and Eur/Gbp is sub-0.8500 in response, with the latter not really fazed by the UK-EU rift on NI protocol. CAD/NOK - The Loonie remains firm against its US peer after the stellar Canadian jobs data and Usd/Cad continues to probe support/bids at 1.2450 against the backdrop of strength in oil prices that is also keeping the Norwegian Krona afloat and Eur/Nok eyeing deeper sub-10.0000 lows irrespective of marginally mixed vs consensus inflation metrics. CHF/EUR/SEK - All rather rangy, aimless and looking for inspiration or clearer direction as the Franc straddles 0.9275 vs the Greenback, but remains firmer against the Euro above 1.0750 following only a faint rise in Swiss domestic bank sight deposits. Meanwhile, the Euro is pivoting 1.1575 vs the Buck and looks hemmed in by decent option expiry interest just outside the range given.1 bn rolling off between 1.1540-50 and 1.6 bn from 1.1590-1.1600 at the NY cut. Elsewhere, the Swedish Crown is slipping on risk-off grounds towards 10.1250 having tested resistance circa 10.1000. In commodities, WTI and Brent front-month futures continue the upward trajectory seen during the APAC session, with the complex underpinned heading into the winter period and against the backdrop of higher gas prices. The gains have been more pronounced in the US counterpart vs the global benchmark with no clear catalysts behind the outperformance, although this may be a continuation of the unwind seen after reports suggested a release of the US SPR (Strategic Petroleum Reserve) is unlikely. For context, reports of such a release last week took the WTI-Brent arb to almost USD 4.2/bbl vs USD 2.7/bbl at the time of writing. Furthermore, there have also been reports of lower US production under President Biden's "build back better" initiative, which puts more weight on renewable energy, with some energy analysts also suggesting that OPEC+ sees less of a threat from a "shale boom" as a result. Back to price action, WTI has been in the limelight after topping the USD 80/bbl overnight and extending gains to levels north of USD 81.50/bbl (vs low 79.55/bbl), whilst the Brent Dec contract topped USD 84.00/bbl (vs low USD 82.50/bbl). In terms of other news flow, sources suggested the fire at Lebanon's Zahrani fuel tank has been put out after the energy minister suggested the fire was contained – the cause of the fire is not yet known. Gas prices also remain elevated with UK nat gas futures relatively flat on the day but still north of GBP 2/Thm vs GBP 1/Thm mid-August and vs GBP 4/Thm last week, whilst the Qatari Energy Minister said he is unhappy about gas prices being high amid negative follow-through to customers. Over to metals, spot gold and silver are somewhat lacklustre, but with magnitudes of price action contained, with the former meandering just north of USD 1,750/oz and the latter above USD 22.50/oz heading into this week's key risk events. Overnight, iron ore futures were bolstered some 10% in Dalian and Singapore Exchanges amid fears of coking coal supply shortages - coking coal is an essential input to produce iron and steel. Traders should also be cognizant of the Chinese metrics released this week as another elevated PPI metric could see the release of more state reserves, as had been the case over the recent months. Using the Caixin PMIs as a proxy for the release, the PMI suggested sharp increases in both input costs and output prices – largely owed to supply chain delays, with the "rate of inflation was the quickest seen for four months, amid reports of greater energy and raw material costs. This, in turn, led to a solid increase in prices charged". The measure for output prices its highest in three months, whilst "the pressure of rising costs was partly transmitted downstream to consumers, as the demand was not weak." US Event Calendar Nothing major scheduled DB's Jim Reid concludes the overnight wrap A reminder that it’s Columbus Day today where US bond markets are closed. Equity markets are open but expect it to be quiet. Ahead of this, this morning we have published our latest monthly survey results covering over 600 global market participants. See here for more. For the first time since June, the biggest perceived risk to markets is now higher yields and inflation, whilst direct Covid-19 risks are out of the top 3 for the first time. A further equity correction before YE remains the consensus now. 71% expect at least another 5% off equities at some point before YE (68% correctly suggested that last month). A very overwhelming 84% thought the next 25bps move in 10yr US Treasury yields would be up. Of some additional interest is that the definition of stagflation is varied but that the majority think it’s a high or very high risk for the next 12 months. The extreme of this view surprised me. While I’ve long thought the market has underestimated the inflation risks I would still say there is enough of a growth cushion for 2022. However it’s clear the risks have built. Anyway, lots more in the survey. Thanks for filling it in and see the results for details. The week ahead will centre around the US CPI release on Wednesday but it might be a touch backward looking given that energy has spiked more recently and that used car prices are again on the march after a late summer fall that will likely be captured in this week’s release. Elsewhere, we’ve got a potentially more challenging US earnings season than that seen over the last year will commence with the big financials from Wednesday. In addition minutes from the last FOMC will give clues to the latest taper thinking on Wednesday as well. The IMF/World Bank meetings will generate plenty of headlines this week with their latest world outlook update tomorrow the highlight. The best of the rest data wise consists of JOLTS (Tuesday),which we think is a better labour market indicator than payrolls albeit a month behind, US PPI (Thursday) which will give a scale of building pipeline price pressures, US retail sales and UoM consumer sentiment (Friday), and China’s CPI and PPI (Thursday). With all that to look forward to, markets have started the week on a strong note, with equity indices including the Hang Seng (+2.02%), Nikkei (+1.57%), CSI (+0.32%) and Shanghai Composite (+0.32%) all moving higher, whilst the Kospi (-0.11%) has seen a slight decline. Japanese stocks have been buoyed by comments from new PM Kishida over the weekend that he isn’t currently considering changes to the country’s capital-gains tax. That comes with just 20 days remaining until the country’s general election. Separately in China, the country’s energy woes continue with 60 of 682 coal mines closed in the Shanxi province due to heavy floods, with Chinese coal futures up +8.00% this morning. And the property market issues are continuing to persist, with a new Chinese developer Modern Land seeking a 3 month extension to a $250 million dollar bond due to mature on October 25. By the end of last week, a Bloomberg index of Chinese junk-rated dollar bonds had seen yields climb to a decade-high above 17%, so clearly one to still look out for. Unlike in Asia, equity futures are pointing lower in the US and Europe this morning, with those on the S&P 500 down -0.21%. In terms of the main highlight it’s clearly US CPI mid-week. Given my views that inflation risks have been massively understated this year I’ve been saying for months that these reports have potentially been the most important monthly data we have seen for years. But since they mostly come and go with a “meh… mostly transitory” and a relative whimper, I’ve clearly been wrong to over hype them. So ignore me when I say that this month’s report might not be that interesting. With energy soaring over the last month and signs of inflation pressures continuing to build elsewhere then I’m not sure we can read too much into this month’s figures. Take used cars. Given the 2-3 month lag between actual prices and their CPI impact, this month will more than likely reflect a softening of prices in the summer. However September saw prices rise +5.4% so this will probably show up towards the end of the year along with the recent rise in energy costs. Our economists expect a +0.41% headline (vs. +0.27% previously) and +0.27% core (vs. +0.10%) mom rate. This is a bit above consensus and would take the yoy rate to 5.4% (up a tenth) and 4.1% (unch) respectively. Speaking of inflationary pressures, this morning has seen energy prices take a further leg higher, with WTI oil (+1.90%) moving back above $80/bbl for the first time since late 2014, whilst Brent crude (+1.42%) has moved above $83/bbl. European natural gas prices will continue to be an important one to follow amidst the astonishing price surge there, but the declines at the end of last week mean prices finished the week down by more than -45% since their intraday peak on Wednesday, before the comments from Russian President Putin that brought down prices. The rest of the day-by-day calendar is at the end as usual but although it’s a second tier release normally, tomorrow’s JOLTS will be interesting in as far as it might confirm that the main labour problems in August were a lack of supply rather than demand. The report’s full value is reduced by it being a number of weeks out of date but there’s a reasonable argument for saying that this is a better gauge of the state of the labour market than the payroll release. We go through Friday’s mixed report at the end when looking back at last week. Outside of data, it’s that time again as earnings season gets going, with a number of US financials kicking things off from mid-week. In terms of the highlights, we’ll hear from JPMorgan Chase, BlackRock and Delta Air Lines on Wednesday. Then on Thursday, we’ll get UnitedHealth, Bank of America, Wells Fargo, Morgan Stanley, Citigroup, US Bancorp and Walgreens Boots Alliance. Finally on Friday, we’ll hear from Charles Schwab and Goldman Sachs. For more info on the upcoming earnings season, you can read DB’s equity strategists Q3 S&P 500 preview here. Back to markets, it was interesting over the weekend that the BoE’s Saunders chose to endorse market expectation of an earlier start to the hiking cycle in the UK rather than push back against it. He is on the more hawkish end of the spectrum but it was an important statement. Earlier, Governor Bailey suggested that there could potentially be a very damaging period of higher inflation ahead if policy makers didn’t react. Interestingly our survey showed that the market thinks the BoE is likely to make a policy error by being too hawkish so a battle seems likely to commence over policy here in the UK over the coming weeks and months. The November meeting appears live. Those comments have helped to support the pound this morning, which is up by +0.16% against the US Dollar. Looking back to last week now, risk sentiment was supported in the first full week of Q4 by easing European energy prices and a cease fire on the debt ceiling that avoided disaster and bought Washington lawmakers 8 weeks to find a more permanent solution. Global equity indices thus gained on the week: the S&P 500 picked up +0.79%, with a slight -0.19% pullback on Friday, and European equities kept pace with the STOXX 600 rallying +0.97% (-0.28% on Friday). Cyclical stocks led the way on both sides of the Atlantic; energy stocks were among the best performers whist financials benefitted from higher yields and a steeper curve. Speaking of which, US 10yr Treasury yields gained a punchy +14.1bps to close the week at 1.603%, their highest levels since early June. The benchmark gradually increased 3.0bps after Friday’s employment data. Inflation compensation continued to drive rate increases, as US 10yr breakevens gained +13.5 bps to finish the week at 2.515%. We need to go back to May to find higher levels. The sovereign yield increases were global in nature, with German bunds gaining +7.3bps and UK gilts +15.6bps higher. German 10yr breakevens gained +3.9bps while UK breakevens were +12.0bps higher. US nonfarm payrolls increased +194k in September, well below consensus expectations of a +500k gain, though private payrolls increased +317k and net two month revisions were up +169k. The unemployment rate ticked down to a post-pandemic low of 4.8% on the back of a declining labour force participation rate. Average hourly earnings were robust, increasing +0.6% mom (+0.4% expected). Taken in concert, the print likely cleared the (admittedly low) bar to enable the FOMC to announce tapering at the November meeting, whilst also feeding the creeping stagflation narrative (see survey results). Elsewhere, building on a preliminary July deal, the OECD said 136 nations have signed up to implement a 15% minimum global tax rate to address adequate taxation of multinational tech firms. As part of the deal, countries agreed not to impose any additional digital services taxes.       Tyler Durden Mon, 10/11/2021 - 08:12.....»»

Category: blogSource: zerohedgeOct 11th, 2021

5 Must-Buy Stocks for Q4 With Strong Growth Potential

We have narrowed down our search to five large-cap stocks that have strong growth potential for the fourth quarter. These are: NUE, STLD, TSLA, KKR and REGN. Wall Street rebounded on the first trading day of fourth-quarter 2021 after a tumultuous September. September is historically the worst-performing month on Wall Street and this year, it was the most disastrous in a decade. The three major stock indexes — the Dow, the S&P 500 and the Nasdaq Composite — plummeted 4.3%, 4.8% and 5.3%, respectively.In third-quarter 2021, the Dow slid 1.9% owing its meltdown last month. However, the S&P 500 and the Nasdaq Composite advanced 0.2% and 0.4%, respectively, due to their strong performance in July and August. Nevertheless, on Oct 1, the Dow, the S&P 500 and the Nasdaq Composite gained 1.4%, 1.2% and 0.8%, respectively.As we have entered the last quarter of this year, market participants remain concerned about how Wall Street will behave in these three months. Some of the market-disturbing factors like higher inflationary pressure, Fed’s possible tapering of the quantitative easing program this year and concerns about global economic growth, especially China’s booming property development market, are already visible.However, some recently released economic data like durable goods orders, personal spending and ISM manufacturing PMI indicated that the fundamentals of the U.S. economy remain solid. A significant drop in stock market valuations in September and the upcoming third-quarter earnings results could be the other positives.Catalysts for Fourth QuarterDurable goods orders surged 1.8% in August. Moreover, new orders for core capital goods (non-defense capital goods excluding aircraft) rose 0.5% in August. Year over year, new orders for core capital goods jumped 16.4%. This metric is a closely watched proxy for a business investment plan. Shipments of core capital goods rose 0.7% in August. This metric is used to calculate equipment spending in GDP measurement.In addition to strong business spending, consumer spending rebounded in August with a gain of 0.8% after declining 0.1% in July. Consumer spending is likely to remain elevated as we are entering the holiday sales season. Holiday retail sales are likely to climb this year as projected by various major market researchers like Deloitte, Mastercard SpendingPulse, Bain and KPMG. Notably, consumer spending accounts for nearly 70% of U.S. GDP.The Institute of Supply reported that the U.S. manufacturing PMI rose to 61.1% in September, its highest since May. The consensus estimate was 59.6% and August’s reading was 59.9%. Notably, any reading above 50% means an expansion in manufacturing activities.The Department of Commerce raised the U.S. GDP growth rate for second quarter 2021 to 6.7% from its initial estimation of 6.5%.Finally, a major driver of stock markets in October and November could be the third-quarter 2021 earnings results. Corporate profits are likely to remain elevated after an impressive performance in the first two quarters of this year. Rising cost pressures amid supply-chain disruptions along with labor and material shortages will keep the spotlight on margins.Our current projection shows that total third-quarter earnings for the S&P 500 Index are expected to be up 26% from the same period last year on 13.9% higher revenues. Moreover, total earnings of the S&P 500 Index are projected to climb 42.6% on 13.5% higher revenues in 2021 and increase 9.8% on 5.2% higher revenues in 2022.Our Top PicksWe have narrowed down our search to five large-cap stocks (market capital > $10 billion) that have strong growth potential for the fourth quarter. These stocks have seen positive earnings estimate revisions in the last 30 days amid September’s turmoil and are currently trading at a lucrative discount to their 52-week highs. Finally, each of our picks sports a Zacks Rank #1 (Strong Buy).  You can see the complete list of today’s Zacks #1 Rank stocks here.The chart below shows the price performance of our five picks in the past month.Image Source: Zacks Investment ResearchTesla Inc. TSLA has acquired a substantial market share within the electric car segment. Increasing Model 3 delivery, which forms a major chunk of the company’s overall deliveries, is aiding its top line. Along with Model 3, Model Y is contributing to its revenues.In addition to increasing automotive revenues, Tesla’s energy generation and storage revenues boost earnings prospects. The automaker said that its overall deliveries surged 20% in the third quarter from its previous record in the second quarter, marking the sixth consecutive quarter-on-quarter gain.The company has an expected earnings growth rate of 91.3% for fourth-quarter 2021. The Zacks Consensus Estimate for its fourth-quarter earnings improved 4.8% over the last 7 days. The stock is currently trading at 13.9% below its 52-week high.Nucor Corp. NUE is a leading producer of structural steel, steel bars, steel joists, steel deck and cold-finished bars in the United States. It operates through three segments: Steel Mills, Steel Products, and Raw Materials.The company is seeing consistent momentum in the non-residential construction market. Demand in non-residential construction markets was strong in the most recent quarter. Nucor’s downstream products unit is benefiting from continued strength in the non-residential construction markets.The company has an expected earnings growth rate of more than 100% for fourth-quarter 2021. The Zacks Consensus Estimate for fourth-quarter earnings improved 16.9% over the last 30 days. The stock is currently trading at 24.2% below its 52-week high.Regeneron Pharmaceuticals Inc. REGN is benefiting from strong demand for Eylea and Dupixent. Continued growth in Eylea and Dupixent through further penetration in existing indications and a promising late-stage pipeline bode well. The approval of Libtayo in the lucrative indication of NSCLC and BCC should also boost sales.The company has an expected earnings growth rate of 67.6% for fourth-quarter 2021. The Zacks Consensus Estimate for its fourth-quarter earnings improved 80.2% over the last 30 days. The stock is currently trading at 16.9% below its 52-week high.KKR & Co. Inc. KKR operates as an investment management firm managing investments such as private equity, energy, infrastructure, real estate, credit strategies and hedge funds. The company specializes in acquisitions, leveraged buyouts, management buyouts, credit special situations, growth equity, mature, mezzanine, distressed, turnaround, lower-middle and middle-market investments.The company has an expected earnings growth rate of 95.9% for fourth-quarter 2021. The Zacks Consensus Estimate for its fourth-quarter earnings improved 2.1% over the last 30 days. The stock is currently trading at 9% below its 52-week high.Steel Dynamics Inc. STLD is expected to gain from acquisitions as well as strong liquidity and efforts to expand capacity. The acquisitions of Heartland and United Steel Supply have boosted Steel Dynamics' shipping capabilities. Moreover, the buyout of Zimmer will support its raw material procurement strategy at its new Texas flat roll steel mill.The company is also expected to gain from its investments to beef up capacity and upgrade facilities. It is executing several projects that should add to capacity and boost profitability. The electric-arc-furnace flat roll steel mill will strengthen its steelmaking capacity and value-added product capability.The company has an expected earnings growth rate of more than 100% for fourth-quarter 2021. The Zacks Consensus Estimate for its fourth-quarter earnings improved 16.2% over the last 30 days. The stock is currently trading at 21.6% below its 52-week high. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2021. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>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 Regeneron Pharmaceuticals, Inc. (REGN): Free Stock Analysis Report Steel Dynamics, Inc. (STLD): Free Stock Analysis Report Nucor Corporation (NUE): Free Stock Analysis Report KKR & Co. Inc. (KKR): Free Stock Analysis Report Tesla, Inc. (TSLA): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksOct 4th, 2021

10 hotels in South Florida with gorgeous rooftop pools and lively bars

These are the best hotels with rooftop pools and restaurants in South Florida, including Miami, Palm Beach, Fort Lauderdale, and more. When you buy through our links, Insider may earn an affiliate commission. Learn more. Tripadvisor South Florida's warm, tropical climate makes it a top vacation destination. From West Palm Beach to Miami, South Florida hotels have incredible rooftops to soak up the sun. Some hotel rooftop bars, restaurants, and pools are open to the public in addition to guests. Table of Contents: Masthead StickySouth Florida is known for its dazzling beaches but also its lively nightlife. And because the region stays warm when the sun goes down, many hotels have in-demand rooftops with outdoor restaurants, bars, and pools that draw visitors day and night.Few things top an afternoon laying out by a pool perched in the sky, enjoying happy hour with views of the Atlantic Ocean in the background, or watching a sunset while savoring a delicious meal. Living in South Florida has given me the opportunity to frequent some of the best hotels, and the following list of hotels all have incredible rooftops that make it easy to savor all the best parts of visiting the Sunshine State.Browse all the best hotels with rooftop pools and restaurants below, or jump directly to a specific area here:The best hotel rooftops in South FloridaFAQ: South Florida hotelsHow we selected the best South Florida hotels with rooftopsMore of the best hotels in FloridaThese are the best hotel rooftops with pools and restaurants in South Florida, sorted by price from low to high. Courtyard Fort Lauderdale Downtown The Easton rooftop combines a pool, restaurant, bar, and nightclub. Marriott Book Courtyard Fort Lauderdale DowntownCategory: Budget Town: Fort Lauderdale Typical starting/peak prices: $152/$365Best for: Friends, solo travelers, Marriott loyalists On-site amenities: 24-hour fitness center, library, business center, pet-friendly rooms, pool, restaurant, barPros: The rooms are well priced, and the rooftop bar is a hot nightlife destination with a DJ and bottle service on the weekends. Cons: On the flip side, the rooftop bar can get crowded, and noise can carry into the guest rooms late into the night.The Courtyard Fort Lauderdale Downtown recently opened in March 2021, nestled in the hip Fort Lauderdale Arts District, just a few miles from Fort Lauderdale Beach and Las Olas Boulevard, the main dining and entertainment strip. Rooms start under $200, which is well priced for a new hotel in such a great location. Most of the 137 guest rooms and suites have views of the Fort Lauderdale city skyline and are outfitted with modern wallpaper, soft carpeting, orange leather armchairs, and sofa beds in some rooms. The hotel is also home to The Easton, a ninth-story rooftop with a restaurant, bar, pool, and plush outdoor seating.  The Easton fills up quickly, especially during weekday Golden Happy Hour, and on the weekends, the rooftop transforms into a nightclub from 10 p.m. to 3 a.m. with visitors lining up for live music and bottle service. COVID-19 procedures are available here. Canopy by Hilton West Palm Beach Downtown Ban.ter Treehouse, the 13th-floor rooftop bar and restaurant has seating spread around a sparkling infinity pool. Tripadvisor Book Canopy by Hilton West Palm Beach DowntownCategory: Mid-rangeTown: West Palm Beach Typical starting/peak prices: $174/$423 Best for: Friends, Hilton loyalists, travelers with pets  On-site amenities: Pet-friendly rooms, complimentary evening wine and beer tastings, complimentary bicycle rentals, restaurant, bar, poolPros: The hotel is close to the airport in a great central location for exploring trendy downtown West Palm Beach. Cons: While the views on the rooftop are great, the seating is limited.Canopy by Hilton West Palm Beach opened in 2020 and is the only Hilton Canopy in Florida, a new boutique lifestyle concept from the brand. Canopy hotels pride themselves on creating a locally-driven by connecting guests to events, music, and restaurants in the surrounding area. The 150 room hotel is less than three miles from Palm Beach International Airport and about a mile from the beach. Rooms are brand new and have been outfitted with gray bedding, oversized artwork, and a dedicated workspace. Standard rooms are spacious at almost 400 square feet, and Deluxe Rooms have city and ocean views. Ban.ter, the lobby restaurant, serves breakfast, lunch, and dinner, and Ban.ter Treehouse, the 13th-floor rooftop bar and restaurant serves small plates and cocktails. The indoor/outdoor flow of the latter rooftop restaurant is lush with lots of plants and palm trees and seating is a mix of bartop and four-person tables spread around a sparkling infinity pool. On weekends, a poolside DJ plays high-energy music. COVID-19 procedures are available here. Kimpton Angler's South Beach The hotel is just two blocks from the beach. Tripadvisor Book Kimpton Angler's South BeachCategory: Boutique Town: South Beach, Miami Typical starting/peak prices: $228/$483Best for: Couples, families, IHG Kimpton reward members, travelers with pets   On-site amenities: Evening wine hours, complimentary morning coffee, Orange Theory fitness classes, in-room spa treatments, pool, restaurant, bar, beach accessPros: The Kimpton Angler is just two blocks from the beach and accommodations are large, with options for two and three-story lofts and bungalows.Cons: There's no fitness center, but the hotel has a partnership with OrangeTheory fitness, and classes are included in your stay. Also, there's a charge for Wi-Fi if you're not an IHG Kimpton rewards member.Kimpton hotels are known for their well-designed boutique properties, the Kimpton Angler's South Beach is no exception. Located on the south end of Miami Beach, it's also minutes from the nightlife on Ocean DriveThere's a cohesive nautical theme carried throughout, with sand-colored loveseats, wicker lamps, and navy patterned lounge chairs and curtains in the 132 guest rooms and suites. Standard rooms are 400 square feet with King or Queen sized beds, ample closet space, and oversized walk-in showers with separate tubs. Most rooms also have balconies that overlook either Washington Ave or the hotel's courtyard Mermaid Pool. The sixth-floor rooftop pool and sun deck is a standout feature, with chic black and white lounge chairs framed by panoramic views of the Miami skyline. Large potted plants add privacy to lounge areas, and the pool deck is quiet enough for those who want to catch up on reading. After a dip, order drinks like the photogenic watermelon margarita from the Minnow Bar. COVID-19 procedures are available here. Conrad Miami The sleek pool terrace is one of multiple rooftop lounge areas at the Conrad Miami. Tripadvisor Book Conrad MiamiCategory: LuxuryTown: Brickell, MiamiTypical starting/peak prices: $275/$574Best for: Couples, Hilton loyalists   On-site amenities: Spa, hot tub, rooftop tennis courts, restaurant, pool, barPros: In addition to the great views, the hotel is in a walkable neighborhood and the customer service is top-notch. Cons: Part of the hotel is commercial real estate, and floors 4-15 are business offices, which may take away from the luxury hotel feel. Also, the lobby is located on the 25th floor, which can be confusing.Conrad Miami is in the heart of Brickell, Miami's business district near upscale, art, and dining. This hotel has multiple great outdoor spaces, but chief among them is Nativo Kitchen and Bar on the 25th floor with views of Virginia Key Beach, Key Biscayne, and Biscayne Bay.There is also the 13th-floor rooftop pool with sleek cabanas and the adjacent Sky Pool Bar, serving a casual menu of burgers and chicken wings, local and imported beers, and frozen cocktails.  When not sunning yourself on one of these terraces, retreat to guest rooms with a clean, minimalist style and light wood furniture, gold fixtures, and baby blue accent chairs. Standard rooms have a separate bathtub and shower, complimentary bathrobes, and 50-inch televisions, and all rooms come with wide windows that offer city or ocean views.COVID-19 procedures are available here. The Dalmar, Tribute Portfolio A saltwater pool is flanked by a sleek bar. Tripadvisor Book The Dalmar, Tribute PortfolioCategory: Luxury Town: Fort Lauderdale Typical starting/peak prices: $284/$455 Best for: FriendsOn-site amenities: Yoga classes, restaurants, pool, bar, coffee shopPros: The rooftop restaurant, Sparrow, is great for adults-only celebrations and has exceptional views of Fort Lauderdale. Cons: Past guests have noted that food and drink prices are steep. The Dalmar is located in downtown Fort Lauderdale, only two miles from Fort Lauderdale beach. From framed art by the Lobby Bar restaurant to the living plant wall adorning Rose's Coffee shop near the hotel's entrance, fun design features prominently.There are two great rooftop venues on the 6th floor of the hotel. Sparrow is an indoor/outdoor restaurant and bar, and after 9 p.m., the venue turns into a 21+ lounge. There's a strict dress code (no athletic gear or beachwear) and a DJ that spins late into the night.The other rooftop venue is the saltwater pool reserved for hotel guests, but the poolside bar and grill, Sip and Dip, is open to everyone from 10 a.m. to 6 p.m.Inside, guest rooms have midcentury flair with pastel furniture, pleated curtains, and brass lamps. The rooms also have premium Sferra sheets, spacious bathrooms with rainfall showers, and tablets for ordering in-room services. Most rooms have floor-to-ceiling views of either Fort Lauderdale or the Intracoastal and select rooms have balconies. COVID-19 procedures are available here. The Ben, Autograph Collection Spruzzo serves coastal Italian cuisine on the rooftop. Tripadvisor Book The Ben, Autograph CollectionCategory: Luxury Town: West Palm Beach Typical starting/peak prices: $286/$483Best for: Couples, Marriott loyalists, travelers with pets  On-site amenities: Rooftop fire pit, hotel library, in-room dining, pet-friendly rooms, restaurant, poolPros: In addition to the great downtown location and views of the waterfront, Spruzzo, the hotel's Italian rooftop restaurant, has a delicious menu and extensive imported wines. Cons: Spruzzo doesn't take reservations, but instead operates on a first-come, first-served policy. One of the newest additions to downtown West Palm Beach is the waterfront hotel, The Ben. The Marriott-owned luxury boutique hotel commands a great location within walking distance of Clematis Street, West Palm Beach's lively district filled with restaurants and bars, and Rosemary Square, an upscale shopping and dining destination. Guest rooms are polished, with sleek wood floors, leather pleated headboards, and luxe Turkish linens. A standard Interior Double Queen is a comfortable 343 square feet, and many guest rooms have views of Palm Harbor Marina or Palm Beach Island. The hotel's 7th-floor rooftop restaurant and bar, Spruzzo, is quite popular, especially on weekends, serving coastal Italian cuisine. It's quickly become a local hangout for young professionals. During the day, hotel guests may reserve one of the cabanas next to the heated saltwater pool, and at night, enjoy watching the sunset over the Palm Beach Intracoastal from the fire pit with a cocktail in hand. COVID-19 procedures are available here. Moxy Miami South Beach There are six different hotel restaurants including a swanky rooftop lounge. Marriott Book Moxy Miami South BeachCategory: BoutiqueTown: South Beach, MiamiTypical starting/peak prices: $289/$489Best for: Friends, Marriott loyalists Onsite amenities: 6 dining and drinking venues, pet-friendly rooms, complimentary beach chairs, complimentary rooftop fitness classes, complimentary morning coffee, poolPros: The Upside rooftop level has incredible views of the South Beach oceanfront along with plenty of seating. Each guestroom also have two beach chairs on South Beach included. Cons: Although there's plenty of places to sunbathe, The Upside rooftop only has a shallow wading pool.Newly opened Moxy Miami South Beach is the first resort-style property for the Moxy brand.Only two blocks from the bustling nightlife of South Beach, the hotel gets lively, especially on the weekends and caters to a young crowd. The purposeful design features lots of Instagrammable details like neon wall signs and fun pool floats.Standard guestrooms are a cozy 224 square feet but maximize the space with retro details like rotary phones and custom artwork by local Miami artists. Walk-in rain showers and Egyptian cotton linens add a sumptuous touch.There are six different hotel restaurants including a lobby bar, Bar Moxy, and Serena, an elevated Mexican restaurant in a lush garden setting adjacent to the hotel's main 72-foot pool. The hotel's 8th story rooftop, The Upside is reserved for hotel guests and has a shallow pool, lounge chairs, and plenty of daybeds. The Upside has great views of South Beach, and a DJ spins house and hip-hop tunes throughout the afternoon and evening. The hotel also offers complimentary bikes (helmets included) to explore the neighborhood. COVID-19 procedures are available here. The Betsy South Beach The oceanfront deck offers a front-row view of the Atlantic Ocean. Tripadvisor Book The Betsy South BeachCategory: BoutiqueTown: South Beach, MiamiTypical starting/peak prices: $289/$609Best for: Couples, travelers with pets On-site amenities: Spa, library, fitness center, restaurants, bars, arts and cultural programming, beach access, poolPros: With only 130 rooms, the hotel offers a peaceful, intimate South Beach stay and all the arts programming is a boon for culture enthusiasts. Cons: Restaurant menu items are expensive and come with an automatic 20% gratuity fee, but that's on par with most hotels on Ocean Drive.The Betsy Hotel is a landmark hotel on South Beach located on Miami's main strip, Ocean Drive, but is tucked away from the noise of the nightclubs and late-night revelry. Arts programming features heavily here, drawing a sophisticated crowd of well-heeled creative types who book posh, albeit sometimes small, rooms with walnut floors, velvet armchairs, and cream-colored curtains that frame floor-to-ceiling windows. The 250-square-foot standard Classic King is cozy but comes with a marble bathroom, a large walk-in shower, luxe Sferra linens, and is pet-friendly, welcoming dogs under 40 pounds. There are two pools: a courtyard pool and a fourth-floor rooftop infinity pool with chaise lounges and 360-degree views of Miami. The bar serves poolside drinks, and food may be brought up from the hotel's restaurant, LT Steak & Seafood. After a swim, catch a sunset from the rooftop's Skyline Deck, a patio overlooking the ocean with unobstructed water views.COVID-19 procedures are available here. East Miami An expansive rooftop pool deck has stellar views over the city and multiple areas to swim. Tripadvisor Book East MiamiCategory: Luxury Town: Brickell, MiamiTypical starting/peak prices: $305/$529Best for: Couples, business travelersOn-site amenities: 24-hour fitness center with classes, complimentary bicycles, restaurants, 4 pools, barsPros: Sugar, the bar on the 40th floor, has one of the best views of downtown Miami and some of the best cocktails I've had in Miami. Cons: The food and cocktails at Sugar are great, but even with a reservation, the wait is long and service can be slow. East Miami is centrally located in downtown Brickell and Sugar, the hotel's rooftop restaurant and bar on the 40th floor has arguably the best view of the entire Miami skyline.The restaurant is 21+ after 6 p.m. and there's a strict dress code (nightlife attire is enforced after sunset). Equally impressive are the four pools (a lap pool, spa pool, plunge pool, and hot tub) on the hotel's fifth-floor deck. So many offerings mean you won't have to worry about waiting for a sun lounger.Standard guest rooms start at 300 square feet, though there are also has large one, two, and three-bedroom residences. All 352 rooms come with a private balcony, floor-to-ceiling windows, and contemporary decor that includes cream-colored furniture, teal wallpaper, and orange throw pillows. COVID-19 procedures are available here. 1 Hotel South Beach Four distinct pool decks offer incredible views. 1 Hotel South Beach/TripAdvisor Book 1 Hotel South BeachCategory: Luxury Town: South Beach, MiamiTypical starting/peak prices: $425/$899Best for: Couples, friends, familiesOn-site amenities: Spa, fitness classes, salon, pet-friendly rooms, coffee and juice bar, beach club, restaurants, bars, multiple poolsPros: There are four different dazzling pool areas, one of which has stunning views from the hotel's 18th-story rooftop. Food, rooms, and customer service are all outstanding at this hotel. Cons: Prices can more than double during the winter high season, and the hotel's 18 story rooftop pool is restricted to adults 21+.Considered one of the best hotels on South Beach, 1 Hotel South Beach takes up an entire block and sits on 600 feet of Miami's prime beachfront. The hotel is pricey but worth the splurge for its sophisticated boho beach vibes, impeccable service, outstanding food, and airy rooms.The lobby makes a remarkable first impression with soaring ceilings and crisp seating around glass-topped wooden coffee tables, but it's the multiple pool decks that really dazzle.There are four different pools: the beachfront South pool, the third floor Cabana Pool, the enormous 30,000 square foot Center Pool, and the gorgeous 18th-story rooftop pool, Watr at the 1 Hotel Rooftop, which is Miami's largest rooftop pool and lounge. Inside, the 426 guest rooms are a celebration of nature and sustainability, sourcing most items from reclaimed materials. A coastal-inspired color palette and large windows make them feel airy and light alongside beachy accents featuring driftwood, tree stumps, and custom wood plank headboards. COVID-19 procedures are available here. FAQ: South Florida hotels When is the best time to visit South Florida?While South Florida experiences nearly year-round sunshine, the best time to visit is from February to May. During those months, temperatures are cooler, and crowds tend to taper off, although there is a spike of visitors during spring break.During the summer months, the temperature and humidity soar, and daily afternoon thunderstorms are common. Florida's hurricane season starts June 1 and lasts until the end of November with August and September being the most active hurricane months.Weather-wise, November through January is also a good time to visit. The temperatures hover around 75 degrees, although it's not uncommon to experience a few sub 50 degree days when a cold front comes through. But keep in mind that hotel prices tend to peak during the November to January holiday months. Do I have to book a room to visit a hotel rooftop?Many of the hotels included in this list have rooftop bars and restaurants open to the public that do not require an overnight hotel reservation, but most of the rooftop pools are reserved for hotel guests. Some hotels offer daytime cabana rentals or a day pass through Resort Pass that includes access to the hotel's pool, spa, or other amenities. Availability changes often, so always call ahead and ask. How do I get around South Florida?South Florida is a large area that encompasses three counties: Broward, Miami-Dade, and Monroe, though most locals consider southern cities in Palm Beach County like West Palm Beach as part of South Florida.Touring South Florida requires a car and some planning as traffic can get congested, especially during morning and evening rush hours. While the public transportation system is mostly reliable in downtown areas, renting a car is the best way to explore all of South Florida. If you're flying into Miami, Fort Lauderdale, or West Palm Beach and staying close to your hotel, you can use taxis or rideshare apps to get around. How do I find a hotel with a rooftop?Most hotels with a rooftop will list it on their hotel website, and third-party booking sites like Booking.com and Hotels.com will usually include a  rooftop in the hotel description or on the list of hotel amenities. Also, the third-party booking site Kayak has a search filter to only pull up properties with rooftops. Do hotel guests receive priority on rooftops?It depends on the property. Most of the hotels restrict the pool areas to hotel guests or guests with day passes. Rooftops with a combined pool and restaurant area do take outside reservations, so it's advised to make restaurant reservations when checking in. How we selected the best South Florida hotels with rooftops I'm a South Florida-based travel writer and have personally visited almost every hotel on this list. All of the hotel rooftops have an excellent bar or restaurant, a picturesque pool, and sensational city or ocean views.Every hotel is located in a popular neighborhood in West Palm Beach, Fort Lauderdale, or Miami. Some of the hotels have downtown locations close to shopping, museums, and restaurants. Others are beachfront or within walking distance to the beach.Besides the great rooftops, many of the properties include perks like a nightly hosted wine hour, complimentary bicycles, and pet-friendly guest rooms.All of the properties have excellent recent reviews on third-party travel sites like Tripadvisor or Booking.com.Because of the location and amenities of the properties, most of the hotels are in the luxury category, but booking during low season can lock in reasonable rates.We've indicated which hotels are ideal for couples, friends, families, or solo travelers, and have included a mix of all kinds of properties.Each hotel promotes COVID safe practices and has updated its COVID practices to include enhanced cleaning procedures. More of the best hotels in Florida Trip Advisor The best hotels in FloridaThe best beach hotels in FloridaThe best hotels in South BeachThe best hotels in MiamiThe best hotels in Key WestThe best hotels in Fort LauderdaleThe best hotels in Orlando and KissimmeeThe best hotels in Walt Disney WorldThe best hotels in Destin Read the original article on Business Insider.....»»

Category: topSource: businessinsiderSep 23rd, 2021

Saturday links: efficiency and capacity

On Saturdays we catch up with the non-finance related items that we didn’t get to earlier in the week. You can check... AutosNissan is investing big to make the switch to EVs. (bloomberg.com)How magnetic roads could be used to charge EVs in transit. (nytimes.com)EnvironmentThe U.S. is the world's biggest contributor to plastic waste. (washingtonpost.com)Why Arctic precipitation will switch from snow to rain over time. (newscientist.com)State transportation departments are slowly coming to terms with the effects of climate change on infrastructure. (washingtonpost.com)Wildfire policy doesn't work any more in the U.S. (slate.com)The Bradford pear tree is just awful. (nytimes.com)ScienceResearchers are planning to drill into Antarctic ice to obtain a record of Earth's climate stretching back 1.5 million years. (bbc.com)Paleontologists have found a 'dog-sized dinosaur species that had a unique slashing tail weapon.' (apnews.com)What barnacles know about whales. (hakaimagazine.com)ArchaeologyResearchers have found a piece of jewelry from 41,500 years ago. (nature.com)A 13-year-old in England just found a bronze age axe. (nytimes.com)BehaviorBrett and Kate McKay, "Challenging cognitive distortions is a skill that takes practice to develop." (artofmanliness.com)Why people gravitate toward puzzles when we are depressed. (wired.com)On the difference between detachment and non-attachment. (dariusforoux.com)Two tricks to help tamp down on imposter syndrome. (hunterwalk.com)Why we fall for scams. (daily.jstor.org)AnimalsPangolins are the new pandas. (wsj.com)Why it might be better for older dogs to eat just once a day. (newscientist.com)CannabisMore Americans are smoking pot. What are the health effects? (fivethirtyeight.com)On the use of hemp to create sustainable building materials. (modernfarmer.com)FoodHow Vermont became a hub for saffron. (modernfarmer.com)Lessons learned from eating in nearly 8000 Chinese restaurants. (bbc.com)SportsWhy younger Americans are less interested in sports that previous generations. (insidehook.com)Attendance at sporting events is not back to pre-pandemic levels. (sportico.com)When football coaches start making $10 million a year it may be time to rethink the college athletics model. (nymag.com)Participation in amateur boxing is associated with a greater risk of dementia later in life. (newatlas.com)MusicThe 100 best songs of 2021 including "Be Sweet" by Japanese Breakfast. (npr.org)The 50 best albums of 2021 including 'Dark in Here' by The Mountain Goats. (pastemagazine.com)TV showsThe best TV shows of 2021 including 'White Lotus.' (nytimes.com)Variety critics' best shows of 2021 including 'Succession.' (variety.com)The 30 best shows of 2021 including 'Only Murders in the Building.' (pastemagazine.com)The 14 best shows of 2021 including 'Hacks.' (vanityfair.com)MoviesThe 10 best movies of 2021 including 'The Power of the Dog.' (vanityfair.com)Tyler Cowen's favorite movies of 2021 including 'The Dig.' (marginalrevolution.com)The 25 best movies of 2021 including 'CODA.' (indiewire.com)The 21 most underrated movies of 2021 including 'Test Pattern.' (vanityfair.com)Earlier on Abnormal ReturnsCoronavirus links: the case for boosters. (abnormalreturns.com)What you missed in our Friday linkfest. (abnormalreturns.com)Podcast links: the new world of work. (abnormalreturns.com)December ESG links: emissions incentives. (abnormalreturns.com)Are you a financial adviser looking for some out-of-the-box thinking? Then check out our weekly e-mail newsletter. (newsletter.abnormalreturns.com)Mixed mediaSmall businesses are having to make big bets on inventory this holiday season. (nytimes.com)American distillers are cheering the removal of EU tariffs. (npr.org)People are purging their closets amidst the pandemic. (wsj.com).....»»

Category: blogSource: abnormalreturns33 min. ago

ETF Areas Making Good Bets Amid Rising Omicron Threats

Considering the complexities of the current market scenario, let's take a look at some ETF areas that can make good investment choices. The mood in Wall Street has remained chiefly tense this week as well. The Dow Jones Industrial Average is down 0.7% this week. The other two broad market indices, the S&P 500 and the Nasdaq Composite, have declined about 0.4% and 0.7%, respectively, in the same period.The omicron strain has entered the United States, with the second case getting reported by a Minnesota resident. The Centers for Disease Control and Prevention’s confirmation of the first case of omicron in California had already led to a new wave of worries on Dec 1. The new variant is feared to be carrying the combined features of the previous variants and can have high transmissibility and lower vaccine potency.Federal Reserve Chair Jerome Powell has also adversely impacted market sentiments by mentioning that the central bank will be discussing speeding up the tapering process from the $15 billion-a-month schedule decided previously, per a CNBC article. This move might be taken to control the persistently high inflation levels, given that the U.S. economy is strongly recovering from the pandemic-led slump.The rising cases due to the new variant have spooked investors. They fear that implementing new lockdown measures to control the spread may hurt the global economic recovery achieved so far,following the reopening of economies. However, some market analysts are anticipating a market rally in December. According to Bank of America, the S&P 500 index has increased 2.3% on average since 1936 and remained positive 79% of the time in December, as mentioned in a CNBC article.Thus, considering the complexities of the current market scenario, let’s take a look at some ETF areas that can make good investment choices:Healthcare ETFsThe pandemic has triggered a race to introduce vaccines and treatment options, opening up investment opportunities in the healthcare sector. Moreover, the space has been gaining increasing attention lately, largely due to the resurgence in COVID-19 infections due to the omicron variant. This has made investors jittery, compelling them to shift toward defensive investments.Considering the current market situation, investors can consider The Health Care Select Sector SPDR Fund XLV, Vanguard Health Care ETF VHT, iShares U.S. Healthcare ETF (IYH) and Fidelity MSCI Health Care Index ETF (FHLC) (read: Wall Street Still Has Room to Run: ETFs to Play).Retail ETFsRetailers have adequately prepared for the holiday season (the late October-December period) that is considered a busy season for many industry players and market participants. The quarter is also marked by some popular retail events like Halloween, Thanksgiving, Cyber Monday, Black Friday and Christmas, which increase its significance among retailers. According to the National Retail Federation (NRF), holiday season sales in 2021are projected to surpass all 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.Also, studying Mastercard SpendingPulse data,  U.S. retail sales— excluding automotive and gas — for the “75 Days of Christmas” from Oct 11 to Dec 24 are anticipated to increase 6.8% from the year-earlier figure.Considering the strong trends, investors may park their money in the following retail ETFs to tap the sales boom -- SPDR S&P Retail ETF XRT, Amplify Online Retail ETF IBUY, VanEck Retail ETF (RTH) and ProShares Online Retail ETF (ONLN) (read: 5 ETFs to Benefit From a Likely Record Cyber Week Sales).Dividend ETFsDividend aristocrats are blue-chip dividend-paying companies with a long history of increasing dividend payments year over year. Moreover, dividend aristocrat funds provide investors with dividend growth opportunities compared to other products in the space but might not necessarily have the highest yields.‘Dividend aristocrats’ or ‘dividend growers’ are mostly deemed to be the smartest way to deal with market turmoil. Notably, the inclination toward dividend investing has been rising due to easing monetary policy on the global front, and market uncertainty triggered by the pandemic and deceleration in global growth.These products also form a strong portfolio, with a higher scope of capital appreciation as against simple dividend-paying stocks or those with high yields. As a result, these products deliver a nice combination of annual dividend growth and capital-appreciation opportunities and are mostly good for risk-averse long-term investors.Against this backdrop, let’s take a look at some ETFs that investors can consider like Vanguard Dividend Appreciation ETF VIG, SPDR S&P Dividend ETF SDY, iShares Select Dividend ETF (DVY) and ProShares S&P 500 Dividend Aristocrats ETF (NOBL) (read: Take Shelter in Dividend Aristocrat ETFs as COVID-19 Cases Rise).COVID-19 Themed ETFsIt looks like the remainder of 2021 will continue to bear the brunt of the pandemic, before the majority of Americans get vaccinated. Therefore, a COVID-themed ETF could be a smart pick. Investors who wish to ride the rally from the increased preference for COVID-themed ETFs can consider Direxion Work From Home ETF WFH, Global X Telemedicine & Digital Health ETF EDOC,Global X Education ETF (EDUT), Pacer BioThreat Strategy ETF (VIRS) and ETFMG Treatments Testing and Advancements ETF (GERM) (read: ETF Areas to Gain/Lose on Fear of Omicron Strain of Coronavirus).Cloud Computing ETFsCloud 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. Even amid the accelerated coronavirus vaccine rollout globally, demand for cloud computing is set to stay robust even after the pandemic. It is worth knowing here that cloud computing and storage have found applications in social networking, messaging apps and streaming services. It has empowered video conferencing, gaming, e-commerce shopping, remote project collaboration, online classes, editing, etc. Cloud computing also supports organizations in remotely processing a lot of information and developing and running key applications and services.Here we highlight some ETFs that can gain from the growing demand for cloud computing -- First Trust Cloud Computing ETF SKYY, Global X Cloud Computing ETF CLOU, WisdomTree Cloud Computing ETF (WCLD) and Wedbush ETFMG Global Cloud Technology ETF (IVES) (read: Play These 5 ETFs Amid Rising Omicron Variant Worries). 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 Health Care Select Sector SPDR ETF (XLV): ETF Research Reports Vanguard Health Care ETF (VHT): ETF Research Reports SPDR S&P Retail ETF (XRT): ETF Research Reports SPDR S&P Dividend ETF (SDY): ETF Research Reports Vanguard Dividend Appreciation ETF (VIG): ETF Research Reports Amplify Online Retail ETF (IBUY): ETF Research Reports First Trust Cloud Computing ETF (SKYY): ETF Research Reports Global X Cloud Computing ETF (CLOU): ETF Research Reports Direxion Work From Home ETF (WFH): ETF Research Reports Global X Telemedicine & Digital Health ETF (EDOC): ETF Research Reports To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksDec 3rd, 2021

The Importance of Being Together in a Virtual World

Like nearly all other businesses, brokerages have been deeply impacted by the shift to virtual life during the pandemic. Houses are increasingly shown—and even sold—without the buyer ever setting foot in the home. The National Association of REALTORS® recently reported that four in 10 homebuyers found virtual tours “very useful” before the pandemic. Now, that […] The post The Importance of Being Together in a Virtual World appeared first on RISMedia. Like nearly all other businesses, brokerages have been deeply impacted by the shift to virtual life during the pandemic. Houses are increasingly shown—and even sold—without the buyer ever setting foot in the home. The National Association of REALTORS® recently reported that four in 10 homebuyers found virtual tours “very useful” before the pandemic. Now, that number has jumped to nearly six in 10, and open houses are commonly hosted on Facebook Live or Zoom, with potential buyers asking questions in the chat box. To be sure, some of these innovations have been beneficial for agents and brokers. With virtual tours reducing wasted viewings by an estimated 40%, a perpetually running virtual open house seems like a no-brainer. But there are also drawbacks, most notably around the office. Brokerages around the country are seeing falling office attendance and lower agent retention rates, which take a measurable toll on business. This is a serious problem. But fortunately, the holiday season is a great time to start reconnecting with agents who have been absent from your office. Brokers will benefit from implementing the same techniques that our coaching clients use for prospecting. Throwing fun events, using personalized touches and leveraging giveaways are proven methods for bringing prospects into the fold—and can be just as effective at getting agents to join or rejoin your office. Holiday events large and small are a great way to show off all that your brokerage has to offer. Be sure to invite all your current agents, agents who have taken a break from real estate and agents who might be struggling at a competing brokerage. If you have recently adopted new tools or programs, demonstrate what kind of success they’re creating to try and recruit new agents. Hosting a holiday party is an easy way to remind everyone of the value of in-person meetings in a digital world. The top-performing teams that Workman Success Systems coach demonstrate that being together breeds greater success, given that teams can leverage each member’s techniques and knowledge to further the goals of the team. Having top performers in the office provides inspiration to everyone who works from the office, as they can rub shoulders and develop important techniques and relationships. Successful agents and teams understand the importance of being together and make it a priority. Verl Workman is the founder and CEO of Workman Success Systems, a real estate consulting company that specializes in performance coaching and building highly effective teams. Contact wssm@workmansuccess.com for more information and free downloadable resources. The post The Importance of Being Together in a Virtual World appeared first on RISMedia......»»

Category: realestateSource: rismediaDec 2nd, 2021

Will Keurig"s (KDP) Robust Upside Story Continue Despite Woes?

Keurig (KDP) witnesses a solid in-market performance and robust growth across segments, and remains on track with cost-management initiatives. These bode well for the stock's growth in the days ahead. Keurig Dr Pepper Inc. KDP displays a remarkable upside story despite the looming effects of the coronavirus pandemic. Strength across its businesses has been the cornerstone of its success. The company witnessed top-line growth in the third quarter of 2021, driven by growth across all business segments, with the Beverage Concentrates and Latin America Beverages segments posting strong double-digit growth.In third-quarter 2021, the company's bottom line met the Zacks Consensus Estimate, while sales surpassed the same. Both metrics improved year over year. Results gained from a solid top-line momentum. KDP witnessed strong market share gains, and in-market performances across categories and brands in the quarter.The Zacks Rank #3 (Hold) company has a market capitalization of $49.9 billion. Year to date, KDP has gained 6.2% compared with the industry's growth of 3.3%. It also compares favorably against the Consumer Staples sector's decline of 0.3%. Image Source: Zacks Investment Research In the past 30 days, the company's estimates for 2021 earnings per share have been unchanged. For fiscal 2021, its earnings estimates are pegged at $1.60 per share, suggesting 14.3% growth from the year-ago period.Here's Why Keurig Dr Pepper Should Retain the MomentumKeurig is likely to retain its strong performance in the Packaged Beverages segment, attributable to growth in CSDs, particularly Dr Pepper, Canada Dry, Sunkist, A&W, 7UP, and Squirt as well as growth in Polar and Mott's. Favorable volume/mix and higher net price realization have been aiding the segment's sales. Also, strong market share growth is anticipated to keep aiding the segment's performance in the near term.Keurig witnessed a strong in-market performance in the third quarter. The company recorded dollar consumption growth of 6.8% across the cold beverage retail base, including improvement in categories such as CSDs, premium unflavored water, enhanced flavored water, apple juice, apple sauce, and coconut water. Dr Pepper, Sunkist, Canada Dry, A&W and Squirt CSDs, Evian, Bai, Vita Coco, Polar, and Mott's apple juice and apple sauce were the key brands aiding growth.KDP's carbonated soft drinks have been gaining traction, driven by core brand growth and successful innovation, particularly its new-zero sugar variety. Sunkist emerged to become the leading fruit-flavored CSD brand with double-digit consumption growth, followed by the solid performance in Canada Dry, A&W and Squirt. The Dr Pepper brand is also performing well on robust consumption growth.The company's manufactured pods and tracked channels witnessed year-over-year market share growth of 83% in the third quarter. Brewer shipments rose 2.2% in the quarter, while brewer sales rallied 44% on a two-year basis. Management launched Keurig Supreme Plus SMART in July only on its website. The product comes with the MultiStream Technology and features the new BrewID technology. The latest innovation will likely be rolled out in stores in the holiday season.Driven by the impressive third-quarter results, Keurig raised its constant-currency sales view for 2021 and reiterated its adjusted earnings guidance. The company expects constant-currency net sales growth of 7-8% compared with 6-7% growth mentioned earlier. Management continues to expect adjusted earnings growth of 13-15%, backed by improved sales and any increase in profits anticipated to be reinvested in its business.Management is on track with prudent cost-management actions. Investments in marketing, product innovation and technology upgrades are likely to yield results.Hurdles to OvercomeLike others in the industry, Keurig continues to witness headwinds related to input cost inflation, labor shortages, rising transportation and logistics costs, and supply-chain disruptions, which are likely to persist for the rest of the year. Management is currently experiencing higher-than-anticipated inflation. It expects inflation, including the cost of goods sold, transportation, warehousing and logistics, and SG&A, to rise 6% year over year in 2021.Headwinds related to the supply chain affected the non-carb beverage unit's sales in the third quarter of 2021. Alongside these, reduced government stimulus remains concerning.Stocks to WatchWe have highlighted some better-ranked stocks from the broader Consumer Staples space, namely United Natural Foods UNFI, MGP Ingredients MGPI and Hershey HSY.United Natural currently sports a Zacks Rank #1 (Strong Buy). The company has a trailing four-quarter earnings surprise of 13.1%, on average. Shares of UNFI have surged 211.3% year to date.You can see the complete list of today's Zacks #1 Rank stocks here.The Zacks Consensus Estimate for United Natural's current financial-year sales suggests growth of 4.1% and that for earnings per share reflects growth of 5.2% from the year-ago period's reported figure.MGP Ingredients, a Zacks Rank #1 stock, has a trailing four-quarter earnings surprise of 117.6%, on average. The MGPI stock has gained 65.7% year to date.The Zacks Consensus Estimate for MGP Ingredients' current financial-year sales and earnings per share suggests growth of 55.5% and 61.4%, respectively, from the year-ago period's reported numbers.Hershey currently carries a Zacks Rank #2 (Buy). The company has a trailing four-quarter earnings surprise of 4.4%, on average. Shares of the company have gained 16.5% in the year-to-date period.The Zacks Consensus Estimate for Hershey's current financial-year sales and earnings per share suggests growth of 8.9% and 12.6%, respectively, from the year-ago period. HSY has an expected long-term earnings growth rate of 8.5%. Zacks Names "Single Best Pick to Double" From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all. You know this company from its past glory days, but few would expect that it's poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks' Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.Free: See Our Top Stock and 4 Runners Up >>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 Hershey Company The (HSY): Free Stock Analysis Report United Natural Foods, Inc. (UNFI): Free Stock Analysis Report MGP Ingredients, Inc. (MGPI): Free Stock Analysis Report Keurig Dr Pepper, Inc (KDP): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksDec 1st, 2021