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MarketWatch
This week’s big rebound in stocks means the bear market is alive and well
Caution: The stock market’s explosive rise in the past two days doesn’t necessarily mean the bear market is over. If anything, the rally suggests that the bear market is alive and well. It’s because daily spikes happen more frequently during bear than bull markets.
Barrons.com
Buffett’s Likely Successor Buys $68 Million of Berkshire Stock
Berkshire Hathaway Vice Chairman Greg Abel, the likely successor to CEO Warren Buffett, bought about $68 million of the company’s shares last Thursday in what appears to be his first purchases of Berkshire stock since he assumed the position in 2018. In several Form 4 filings Monday with the Securities and Exchange Commission, Abel disclosed that he purchased 168 Berkshire Hathaway (ticker: BRK/A, BRK/B) Class A shares through the Gregory Abel Revocable Trust on behalf of his wife, children, and other family members. Abel paid in a range of roughly $405,000 to $408,000 per class A share for the Berkshire stock, which closed Monday at $413,300, up 1.7% on the session.
TipRanks
Looking for Beaten-Down Tech Stocks? Here Are 2 J.P. Morgan Likes
Stocks came storming out the gates in October’s first session as if in a hurry to leave a brutal September well behind. Investors will be hoping the rally is more than a one-off after the storm of headwinds – a combination of high inflation, rising interest rates, and slowing economic activity – have hit the markets hard this year. The tech sector has been especially vulnerable. The NASDAQ closed out the third quarter with three consecutive weeks of losses and is still down 31% for the year. But
Benzinga
What Analysts Think About These High-Dividend Mortgage REITs
You would be hard-pressed to find a worse-performing real estate investment trust (REIT) class in 2022 than mortgage REITs (mREITs). With over 8% inflation and the Federal Reserve raising interest rates multiple times, the mREIT group has been trounced. Many mREITs are still maintaining dividends without cuts, and with the substantial price declines this year, many of these stocks are now paying high single-digit and even double-digit dividend yields. But what do analysts think about the future
MarketWatch
Your off-ramp for I-bonds is coming up soon if you bought the securities for their juicy 9.6% yield
You can hold on to Series I bonds for 30 years, but if you jumped in when the interest rate skyrocketed to 9.62%, you might be looking for an off-ramp well before then. The total return on I-bonds is made up of two parts — a fixed rate that’s set at the time of purchase and an inflation-adjusted rate that resets every six months, in November and May. The fixed rate has been 0% since May 2020. Looking at numbers already published, David Enna, founder of TipsWatch.com, a website that tracks inflation-protected securities, predicts the variable inflation-adjusted portion of the I-bonds formula will be around 6.3%, and likely fall to 3.5% eventually.
Reuters
U.S. manufacturing nearly brakes; price pressures abating
U.S. manufacturing activity grew at its slowest pace in nearly 2-1/2 years in September as new orders contracted amid aggressive interest rate increases from the Federal Reserve to cool demand and tame inflation. The Institute for Supply Management (ISM) survey on Monday also showed a measure of manufacturing employment contracted last month for the fourth time this year. ISM Manufacturing Business Survey Committee chair Timothy Fiore said “companies are now managing head counts through hiring freezes and attrition to lower levels, with medium- and long-term demand more uncertain.”
Bloomberg
White House Takes Closer Look at Controversial Gasoline Export Ban Option
(Bloomberg) — White House officials have asked the US Energy Department to analyze the possible impacts of a ban on exports of gasoline, diesel and other refined petroleum products, an indication that the controversial idea is gaining traction in some parts of the Biden administration.Most Read from BloombergMusk Revives $44 Billion Twitter Bid, Aiming to Avoid TrialLoretta Lynn, Coal Miner’s Daughter And Country Queen, DiesElon Musk Sets Off Uproar in Ukraine by Tweeting His ‘Peace’ PlanBiden,
Reuters
Porsche shares fall below IPO pricing
Shares in sports car brand Porsche fell below its listing price on Monday, the third day of trading since its $72 billion listing by parent company Volkswagen. The closely watched initial public offering (IPO) was the largest listing in Germany in more than 25 years despite a backdrop of volatile global markets. On Monday Porsche shares fell to 81 euros, 1.8% below the IPO pricing of 82.50 euros.
Deadline
Chinese Arthouse Hit ‘Return To Dust’ Pulled From Screens And Streaming Platforms In China
Li Ruijun’s arthouse hit Return To Dust has been dropped from theatrical release and streaming platforms in China, without any reason being given to the producers or distributors of the film. The move prompted discussion on Chinese social media as the film was a surprise box office hit, grossing more than $15m (RMB100m), an exceptional […]
Bloomberg
Ray Dalio No Longer Thinks ‘Cash Is Trash’
(Bloomberg) — Ray Dalio, the founder of Bridgewater Associates, has changed his mind, saying he no longer thinks “cash is trash” and that the short-term interest rate is “now about right.”Most Read from BloombergElon Musk Sets Off Uproar in Ukraine by Tweeting His ‘Peace’ PlanTrump Asks to Push Special Master Appeal Hearing to JanuaryNorth Korea Fires Missile Over Japan for First Time Since 2017Stocks Rise From the Ashes in Best Day Since July: Markets WrapCredit Suisse Turmoil Deepens With Rec
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