Representative image Shares slipped and the dollar hung off recent highs on Tuesday as investors eyed U.S. inflation data due a day later that will likely yield clues to any further aggressive Federal Reserve rate hikes. The stakes are high for the July U.S. consumer prices report on Wednesday after an unexpectedly strong U.S. jobs data last week boosted expectations of a sharp interest rate increase to tackle soaring inflation. The broader Euro STOXX 600 fell 0.6%, after logging its best session in nearly two weeks on Monday, with German stocks down 0.7%. Miners and autos, among top gainers a day earlier, led declines on Tuesday. Wall Street futures pointed to slim gains. "The focus is on tomorrow's U.S. inflation numbers and whether or not they are likely to show any indication of a softening of inflationary pressures," said Michael Hewson, chief market analyst at CMC Markets. Close "Are we near the peak, and will tomorrow's CPI numbers reflect that?" … [Read more...] about Stocks stumble as caution reigns ahead of U.S. inflation data
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Share to Twitter Share to Linkedin The growth trajectory of the largest national entitlement programs — Social Security, Medicare, and Medicaid — has many concerned, understandably so. But state and local unfunded pension liabilities must also be counted among the major challenges to U.S. fiscal health. According to Pew research, unfunded state pension liabilities reached a combined $1.25 trillion in 2019. Other projections that assume more modest investment returns find total unfunded state pension liabilities today in excess of $8 trillion . The trillions of dollars in growing unfunded public pension liabilities, for which taxpayers are ultimately on the hook, is a problem that could soon be exacerbated by a new federal tax in the Inflation Reduction Act (IRA) that will diminish state and local pension plan returns. “We should not increase taxes, and we did not increase taxes,” Senator Joe Manchin (D-W.V.) said about the IRA on NBC’s Meet the … [Read more...] about Stock Buyback Tax Will Harm State & Local Pensions
- A + A MOSCOW (Aug 9): The rouble firmed towards 60 against the U.S. dollar on Tuesday, retaining support from capital controls and high prices for oil, Russia's key export, while stock indexes were mixed as the market lacked momentum. At 0738 GMT, the rouble was 0.6% stronger against the dollar at 60.40, trading in a range between 59 and 62 for the sixth day in a row. Against the euro, the rouble firmed 1.2% to 61.48 , well above the record low of 132.42 it hit days after Moscow sent tens of thousands of troops into Ukraine on Feb. 24. The rouble is the best-performing currency so far this year as it received a boost from the capital controls Russia imposed to shield its economy and the financial system from sweeping western sanctions. However the rouble may gradually weaken in the near term given the lack of news triggers and the fact that the monthly tax payment period that usually boosts demand for the currency will only start later in August, analyst at … [Read more...] about Russian rouble firms towards 60 vs dollar, stocks mixed
Share to Twitter Share to Linkedin Las Vegas is one of the world's greatest restaurant cities - on and off the Strip. Image via ... [+] Wikipedia Andrew Knowlton is the longtime Restaurant Editor for Bon Appétit magazine , as well as the magazine’s columnist, The Foodist. He just gave me an exclusive interview with his top ten picks for visitors to Las Vegas, one of the most popular tourism cities in the world - and home to one of the best and most confusing restaurant scenes. Knowlton eats out more than 200 nights each year, and not so long ago gave me an exclusive preview of the magazine’s Top 10 New Restaurants of 2011 for my readers, but this is even more especial, since this list is not going to appear anywhere else but right here at Forbes.com. While Knowlton covers the entire country, he has a special laser focus on Las Vegas, because it is the site of the magazine’s prestigious annual food event, Vegas Uncork’d by Bon Appétit, … [Read more...] about Las Vegas’ 10 Hottest Restaurants – Exclusive Inside Scoop!
Share to Twitter Share to Linkedin The Cake Boss made sure this Super Bowl dessert would be sweet for fans of both teams. In my last post , I wrote about how impressed I was with Indianapolis as a tourist city and as a host for what had to be the smoothest, best run Super Bowl imaginable. In a week filled with parties, big name concerts and all sorts of VIP events, the Taste of the NFL and its Party With A Purpose took the cake - except in this case the cake was a huge depiction of a football field complete with edible Eli Manning and Tom Brady jerseys and even the Vince Lombardi Trophy. The thing that makes this event so notable is that it is not new and not specific to any host city - it has been held for 21 straight years of Super Bowls, and will be held again next year (2013) in New Orleans, and after that in New York, and then Phoenix. My suggestion? Buy a ticket. The cool thing is you don’t have to be going to the game, which for most … [Read more...] about Super Bowl’s “Taste Of the NFL” – The Best Food Event You Never Heard Of
Share to Twitter Share to Linkedin Established in 1912 by Margaret Anderson, the ultra-luxurious Beverly Hills Hotel has become an infamous establishment synonymous with style, glamour and elegance. It’s no surprise then, that it has hosted everyone from A-listers to the fashion glitterati and royalty alike, and this year, the beloved L.A. landmark celebrates its 110th anniversary. At the helm is General Manager, John Scanlon, and he shares ten things to know about this world-famous, celebrity-adored hotel. Female founder: The Beverly Hills Hotel was opened by Margaret Anderson in 1912, two years before the city of Beverly Hills was established. Margaret owned and operated the hotel for many years, and her motto was “Guests are entitled to the best of everything regardless of cost!” The hotel has recently introduced a variety of activations to celebrate its 110th anniversary. Iconic architecture: Paul Revere Williams, one of the world’s … [Read more...] about 10 Things To Know About The Beverly Hills Hotel
Representative image Impostor syndrome seems to be more common than actually thought, though at a collective level. People may often feel that the groups they are affiliated with may be underperforming in comparison to other groups. Although this self-critical approach may work in certain cases, it may also overlook the positives, and decrease the morale of those affiliated with the group. Many in India seem to have a collective/national-level impostor syndrome. While the Indian economy is much better placed than its peers in the emerging markets, and other economies, the government is being criticised on the economic front. The criticism comes when the fundamentals of the Indian economy are robust, despite the exogenous shocks caused by the COVID-19 pandemic, supply chain disruptions, monetary policy tightening by the US Federal Reserve, the Ukraine-Russia conflict, and inflated crude oil prices. India's macroeconomic health remains robust despite external pressures, and ongoing … [Read more...] about Bibek Debroy writes: India’s economy is better placed than its peers, other economies around the world
- A + A (Aug 9): Apple Inc is back in a familiar role as market leader after a painful first half of the year that saw hundreds of billions of dollars in market value disappear, and individual investors are a big reason for the rally. Since bottoming in mid-June, the iPhone maker’s shares have surged 27%, outpacing the S&P 500 Index and the Nasdaq 100 Index. That’s put Apple back on top as the world’s most valuable company and within sight of turning positive for the year. Apple is now down just 7.4% in 2022, compared with a drop of 20% for the Nasdaq 100. Apple shares benefited from a relief rally after its quarterly earnings were better than feared, and its ongoing buoyancy reflects Wall Street’s confidence in its ability to continue churning out big profits. Individual investors, who recently helped ignite rallies in speculative corners of the market, have flocked to the stock. “Retail investors have been strong buyers of Apple over the past couple of … [Read more...] about Apple’s chart-topping run gets a boost from retail investors
Dear Reader , The Panorama newsletter is sent to Moneycontrol Pro subscribers on market days. It offers easy access to stories published on Moneycontrol Pro and gives a little extra by setting out a context or an event or trend that investors should keep track of. In a case of how cheer for the economy may not be so for markets, investors in US stocks fretted over excellent jobs data. US businesses added 5,28,000 jobs in July, beating most estimates by an embarrassing margin. US 2-year treasuries rose after the report, as the market priced in a more certain likelihood of another 75-basis point rate hike by the US Fed. But the S&P 500 slipped, as investors pondered over what too strong an economy could mean for interest rates. Those fears did not carry over to India, however, with the stock market rising by a strong 0.8 percent at 1.15pm. The RBI’s 50 basis point hike in the repo rate last week and its determination to stay in ‘withdrawal of accommodation’ mode is … [Read more...] about Moneycontrol Pro Panorama | Are US and Indian markets decoupling?
Key Takeaways Analysts estimate adjusted EPS of 95 cents vs. 80 cents in Q3 FY 2021. Disney+ subscribers are expected to rise YOY, but at the slowest pace in at least seven quarters. Revenue is expected to grow at a solid rate, but to slow compared with the past several quarters. The Walt Disney Co. ( DIS ) business has recovered strongly in recent quarters as the company has emerged from the extreme impact of the COVID-19 pandemic on its theme parks and live experiences. And while most of the company's parks have reopened, business growth is also being fueled by Disney's popular streaming platforms. Both Disney+ and Disney-owned Hulu have experienced sharp increases in subscriptions in recent quarters. But the prospect of ads being sold on the service and other business concerns for the streaming industry more broadly continue to loom. Investors will be watching to see how Disney navigates this environment when it reports earnings on Aug. 10, 2022, for Q3 FY … [Read more...] about Disney Q3 FY 2022 Earnings Report Preview: What to Look For