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TODAY ONLY For only 7 you can get 2 winning options trade alerts every month Click Here to See Trade Ideas Risk free with a 14 day refund guarantee Someone with a lot of money to spend has taken a bullish stance on EVgo EVGO And retail traders should know We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga Whether this is an institution or just a wealthy individual we don t know But when something this big happens with EVGO it often means somebody knows something is about to happen So how do we know what this whale just did The overall sentiment of these big money traders is split between 80 bullish and 20 bearish Out of all of the special options we uncovered 3 are puts for a total amount of 106540 and 7 are calls for a total amount of 242219 Taking into account the Volume and Open Interest on these contracts it appears that whales have been targeting a price range from 75 to 150 for EVgo over the last 3 months Looking at the volume and open interest is a powerful move while trading options This data can help you track the liquidity and interest for EVgo s options for a given strike price Below we can observe the evolution of the volume and open interest of calls and puts respectively for all of EVgo s whale trades within a strike price range from 75 to 150 in the last 30 days EVgo Option Volume And Open Interest Over Last 30 Days Where Is EVgo Standing Right Now With a volume of 4200748 the price of EVGO is up 374 at 998 RSI indicators hint that the underlying stock may be approaching overbought Next earnings are expected to be released in 12 days Options are a riskier asset compared to just trading the stock but they have higher profit potential Serious options traders manage this risk by educating themselves daily scaling in and out of trades following more than one indicator and following the markets closely If you are already an options trader or would like to get started head on over to Benzinga Pro Benzinga Pro gives you up to date news and analytics to empower your investing and trading strategy

Inspections Of Bangkok Cannabis Stores Underway A Thailand store selling cannabis had its license temporarily suspended following an inspection by officials from the Department of Traditional and Complementary Medicine DTCM and Bang Sue police Thai PBS World reported thatthe store allowed its customers to smoke cannabis on its property which is illegal under an edict from the Public Health Ministry Cannabis was decriminalized in Thailand in 2022 making it the first country in Southeast Asia to do so Ever since the country s government has been issuing ad hoc regulations as a way to set up a regulatory framework for the sector including a recent rule that Thai nationals need to show their ID cards when purchasing cannabis Greece s New Facility Will Supply Medical Cannabis ToEU Countries Greece got its first ever medicinal cannabis production plant at Examilia in Corinth reported Greek Reporter Tikun Olam Cannbit s TASE TKUN subsidiary Tikun Europe was welcomed by Greek Development Investments Minister Adonis Georgiadis on Thursday Georgiadis said that medicinal cannabis produced at the new facility has the capacity to supply all major European countries with cannabis Nikos Beis CEO of Tikun Europe touted the factory as one of the largest pharmaceutical facilities on the continent which is expected to produce 10 tons of dry cannabis flower annually A new era is beginning for our country with the operation of our Tikun Europe facility paving the way for Greece to become one of the main players in the field of production and export of medical cannabis products Beis said Argentina Sets Up National Cannabis Agency The new agency set upon Wednesday will regulate and promote the newly launched cannabis industry reported Reuters As of Thursday the agency s first working groupfocused on regularizing programs and coordinating with various provinces and the industrial sector This opens the door for Argentina to start a new path in terms of industrial exports on the basis of huge global demand Economy Minister Sergio Massa said at a conference launching the national hemp and cannabis agency ARICCAME In early May 2022 Argentina s Congress approved a law to create a regulatory framework for public and private investments in producing hemp and cannabis products Japan To Legalize MMJ Criminalize Rec Use The latest effort to allow the use of medical marijuana for patients with such conditionsas intractable epilepsymay criminalize the use of recreational marijuana reported The Japan News Thegovernment is poised to submit several bills during the current Diet session thatwould amend the Cannabis Control Law The country s health ministry first held a meeting last yearto negotiate the revision of the Cannabis Control Law from 1948 The ministry plans to revise current law byforbiddingcertain partsof the cannabis plant rather thanthe plant itself making it easier to allow medical marijuana products It will also discuss adding a new provision to the Cannabis Control Law to criminally punish cannabis possession and consumption except for medicinal purposes In September a Japanese health ministry panel recommended that marijuana derived medicines be treated like pharmaceuticals Photo Benzinga edit of photo by Greg Rosenke and Elsa Olofsson on Unsplash

‘People don’t understand the risk they’re taking’ Widely seen as a safe haven stable value funds are often opaque Read More Period tracking apps FTC warns of ‘incalculable risk’ if health apps share info after Roe decision The White House has asked people who live in states with abortion bans to ‘be really careful’ using period tracking apps Read More Good money after bad Four charged in cold call diamond sale scheme prosecutors say was a dazzling scam Investigators say the operation got investors to give more and more money with promises of big returns on pink diamonds Read More Climate conscious shoppers can limit their guilt for jumping on Amazon Prime Day deals if they’re smart about packaging and delivery options Read More Why Amazon clicks with shoppers on Prime Day or any day The company has faced more than its share of criticisms but it has also changed the face of retailing Read More ‘My husband and my father never really got along’ How do I ensure my husband of 26 years never gets his hands on my inheritance of several million dollars ‘If anything happens to me I want my children to inherit these funds’ Read More ‘I was the sole provider’ Why this first generation college graduate has a 80K student debt two decades after enrolling in college Trisha Volosin’s path to a college degree was a torturous one not helped by the for profit college she first attended Read More With red hot inflation more Americans are relying on credit cards to pay rent and buy food But where you live also plays a role Here’s why Wealth inequality in the US has continued to widen during the pandemic Read More For small businesses rising rates are leading to lower optimism Here are 7 things they should do now to survive Small business owners are faring OK financially right now but their worries about the future are mounting according to this new small business financing index Read More As the weather heats up check out one of these lakeside towns for swimming kayaking fishing and more Read More

Someone with a lot of money to spend has taken a bearish stance on General Motors NYSEGM And retail traders should know We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga Whether this is an institution or just a wealthy individual we don t know But when something this big happens with GM it often means somebody knows something is about to happen So how do we know what this whale just did Today Benzinga s options scanner spotted 11 uncommon options trades for General Motors This isn t normal The overall sentiment of these big money traders is split between 36 bullish and 63 bearish Out of all of the special options we uncovered 3 are puts for a total amount of 91640 and 8 are calls for a total amount of 780056 What s The Price Target Taking into account the Volume and Open Interest on these contracts it appears that whales have been targeting a price range from 300 to 420 for General Motors over the last 3 months Volume Open Interest Development Looking at the volume and open interest is a powerful move while trading options This data can help you track the liquidity and interest for General Motors s options for a given strike price Below we can observe the evolution of the volume and open interest of calls and puts respectively for all of General Motors s whale trades within a strike price range from 300 to 420 in the last 30 days General Motors Option Volume And Open Interest Over Last 30 Days Biggest Options Spotted Symbol PUTCALL Trade Type Sentiment Exp Date Strike Price Total Trade Price Open Interest Volume GM CALL SWEEP BEARISH 091523 4200 2717K 65K 37K GM CALL SWEEP BEARISH 091523 4200 1997K 65K 197 GM CALL SWEEP BULLISH 091523 3000 951K 439 5 GM CALL TRADE BULLISH 091523 3300 850K 375 67 GM CALL SWEEP BULLISH 091523 3300 397K 375 250 Where Is General Motors Standing Right Now With a volume of 5710830 the price of GM is down 264 at 348 RSI indicators hint that the underlying stock may be approaching oversold Next earnings are expected to be released in 20 days What The Experts Say On General Motors Citigroup has decided to maintain their Buy rating on General Motors which currently sits at a price target of 76 Options are a riskier asset compared to just trading the stock but they have higher profit potential Serious options traders manage this risk by educating themselves daily scaling in and out of trades following more than one indicator and following the markets closely If you want to stay updated on the latest options trades for General Motors Benzinga Pro gives you real time options trades alerts

US stock futures bounced between small gains and losses as investors considered data showing a sour mood among American consumers during a period of high inflation and rising interest rates SP 500 futures were flat and futures on the Dow Jones Industrial Average slipped 01 Changes in equity futures don’t necessarily predict market moves after the opening bell

Sturm Ruger Co reported lower sales and earnings in the second quarter as demand for firearms waned The firearms maker posted net income of 208 million or 117 a share for the three months ended July 2 compared with net income of 444 million or 250 a share a year earlier The company said its profitability declined from the year ago period as its gross margin decreased to 31 from 39 which was driven by unfavorable deleveraging of fixed costs from lower production and sales as well as higher costs stemming from inflation Chief Executive Christopher Killoy said consumer demand for firearms subsided following a surge in 2020 that remained throughout most of 2021 Mr Killoy also said inventories of certain products remain below desired levels

This post contains sponsored advertising content This content is for informational purposes only and not intended to be investing advice Tuesday’s faded rally was an important event because it demonstrated just how challenging it is going to be for bulls to regain the upper hand in the narrative surrounding the economy Inflation remains Enemy 1 and it’s going to take something extraordinary for risk appetite to return when CPI is running at the hottest levels in 40 years Investors have been eagerly awaiting signs of slowing price pressure but the first sign of it in yesterday’s monthly figures couldn’t support any meaningful gains in the stock market Naturally bulls are looking to earnings the next two weeks as a possible catalyst for upside They’re likely going to be disappointed There is a meaty chunk of companies that are benefitting from the surge in commodity prices and some sectors like travel and healthcare could offer some positive surprises tied to reopening the rest of the market is problematic Banks were supposed to be the anchor for the market in a rising interest rate regime but their prognosis is looking more worrisome by the week The Federal Reserve’s hiking path is squishing the yield curve so their lending margins will not be what many hoped for in this environment Yet Treasury yields are still surging enough to finally dampen demand for housing so volumes may also disappoint And it’s not like this group was left behind in the COVID regime either The smorgasbord of IPOs and SPACs last year was a windfall for Wall Street’s capital markets leaders like Goldman Sachs whose shares gained 70 during the pandemic The quarantine trading boom pumped up numbers for equity behemoth Morgan Stanley whose stock price doubled This group looks plenty susceptible to valuation unwind like so much else And that’s what’s absolutely crucial to remember The bear case for US stocks is not Russia’s aggression in Ukraine it’s not runaway inflation and it’s not even recession yet The bear case for stocks is that the biggest equity bubble in recorded history is popping People like to forget the Nasdaq peaked with cloud earnings in the fourth quarter of 2021 What went up even more than at the invention of the Internet is simply coming down When the global economy ground to a halt investors dumped all the money they had into tech companies that benefitted from the pandemic Most will never be able to match the growth rate they saw in those two years and so their valuations will continue to slide The ones with the strongest profits will make it through the downtrend but many will not There is still more pain to come and earnings will likely refresh this uncomfortable truth that’s been masked by other short term narratives This post contains sponsored advertising content This content is for informational purposes only and not intended to be investing advice

TOKYO Oct 7 Reuters Japan s real wages fell in August for a fifth straight month government data showed on Friday as a plunge in the yen lifted consumer prices at the fastest pace in eight years outstripping modest pay growth While the Bank of Japan maintains massive monetary easing policymakers are urging firms to raise wages to kick start a sustainable growth cycle of higher wages and greater consumer and business spending while easing the pain of inflation that has been amplified by the currency s slide to a 24 year low Inflation adjusted real wages dropped 17 in August from a year earlier labour ministry data showed following a revised 18 fall in the prior month The consumer price index CPI used by the ministry to calculate real wages which includes fresh food prices but excludes owners equivalent rent rose by an annual 35 That was the fastest since the 39 recorded in Sept 2014 and outpaced a 17 rise in nominal total cash earnings following a revised 13 gain in July Overtime pay a key indicator of strength in corporate activity increased 43 in August from a year earlier the smallest gain in five months Special payments which include the discretionary seasonal bonuses that firms tend to slash when they face headwinds rose 07 in August after a 16 increase the previous month The following table shows preliminary data for monthly incomes and numbers of workers in August The ministry defines workers as 1 those who were employed for more than one month at a company that employed more than five people or 2 those who were employed on a daily basis or had less than a one month contract but had worked more than 18 days during the two months before the survey was conducted at a company that employs more than five people To view the full tables see the labour ministry s website at httpwwwmhlwgojpenglishdatabasedb lindexhtml

A whale with a lot of money to spend has taken a noticeably bearish stance on American Airlines GroupLooking at options history for American Airlines Group NASDAQAAL we detected 27 strange tradesIf we consider the specifics of each trade it is accurate to state that 22 of the investors opened trades with bullish expectations and 77 with bearishFrom the overall spotted trades 5 are puts for a total amount of 611804 and 22 calls for a total amount of 2526039What s The Price TargetTaking into account the Volume and Open Interest on these contracts it appears that whales have been targeting a price range from 120 to 190 for American Airlines Group over the last 3 months Volume Open Interest DevelopmentLooking at the volume and open interest is an insightful way to conduct due diligence on a stockThis data can help you track the liquidity and interest for American Airlines Group s options for a given strike priceBelow we can observe the evolution of the volume and open interest of calls and puts respectively for all of American Airlines Group s whale activity within a strike price range from 120 to 190 in the last 30 days American Airlines Group Option Volume And Open Interest Over Last 30 Days Biggest Options Spotted SymbolPUTCALLTrade TypeSentimentExp DateStrike PriceTotal Trade PriceOpen InterestVolume AALCALLSWEEPBEARISH01202312007378K80K67K AALPUTTRADEBULLISH01192413002955K357K15K AALCALLTRADEBEARISH01202312002199K80K43K AALPUTSWEEPBEARISH12302215001904K20K20K AALCALLSWEEPBEARISH01202312001856K80K390 Where Is American Airlines Group Standing Right Now With a volume of 13693419 the price of AAL is up 167 at 1493 RSI indicators hint that the underlying stock may be approaching overboughtNext earnings are expected to be released in 65 days Options are a riskier asset compared to just trading the stock but they have higher profit potential Serious options traders manage this risk by educating themselves daily scaling in and out of trades following more than one indicator and following the markets closelyIf you want to stay updated on the latest options trades for American Airlines Group Benzinga Pro gives you real time options trades alerts

If history is any guide there may be trouble ahead for shares of eBay NASDAQEBAY A so called death cross has formed on its chart and not surprisingly this could be bearish for the stock What To Know Many traders use moving average crossover systems to make their decisions When a shorter term average price crosses above a longer term average price it could mean the stock is trending higher If the short term average price crosses below the long term average price it means the trend is lower Why It s Important The 50 day and the 200 day simple moving averages are commonly used The death cross occurs when the 50 day moves below the 200 day This could mean the long term trend is changing That just happened with eBay which is trading around 4470 at publication time Remember Seasoned investors don t blindly trade Death Crosses Instead they use it as a signal to start looking for short positions based on other factors like price levels and company fundamentals events For seasoned investors this is just a sign that it might be time to start considering possible short positions With that in mind take a look at eBay s past and upcoming earnings expectations Quarter Q1 2023 Q4 2022 Q3 2022 Q2 2022 Q1 2022 EPS Estimate 107 106 093 089 103 EPS Actual 111 107 1 099 105 Revenue Estimate 248B 247B 233B 237B 246B Revenue Actual 251B 251B 238B 242B 248B Also consider this overview of eBay analyst ratings Do you use the Death Cross signal in your trading or investing Share this article with a friend if you found it helpful This article was generated by Benzinga s automated content engine and reviewed by an editor

Contemporary Amperex Technology Co shares are on pace for their biggest one day fall since listing in 2018 after first quarter profit sharply missed estimates Shares of China s largest electric vehicle battery maker fell as much as 14 early Thursday to 35300 yuan 5342 in their first day of trading since the company reported a 24 on year drop in net profit CATL attributed the decline in profit to higher operating costs thanks to the rise in prices of raw materials Analysts from UOB Kay Hian Nomura and Citi said the results fell short of expectations UOB Kay Hian cut its target price for CATL shares to CNY67000 from CNY74000 but kept its buy rating partly due to expectations the company will be able to adapt to higher costs Going forward CATL s gross margin will probably recover with lithium compound prices stabilizing and the higher priced new contracts kicking in from the second quarter UOB Kay Hian analyst Ken Lee said in a note Analysts from Japanese investment bank Nomura wrote in a note that the earnings decline was worse than the market expectation and cut their 2022 profit estimates by 20 to factor in the impact of higher raw material prices Nomura cut its target price to CNY53600 from CNY72200 but also kept its buy call citing the rising adoption rate for electric vehicles in China and expectations that battery shipments should pick up in the second half of the year The bank cited data from the China Automotive Battery Innovation Alliance showing that the number of batteries installed in electric vehicles more than doubled in the first quarter Nomura analysts said they expected CATL to gradually offset the pressure on its gross margins by raising prices and forecast battery sales volumes to gradually rise in the second half Analysts from Citi also cut their target price to CNY65300 from CNY75900 while maintaining a buy call as they expect profit margins to gradually improve for the rest of the year However they expect the first quarter result miss to gradually lead to consensus earnings downgrades

Shares of supermarket chain Sprouts Farmers Market Inc were trading lower on the Nasdaq Thursday a day after the company released first quarter financial results and said it expected its previously provided outlook would be at the low end of the range At 1119 am ET the company s stock had fallen 2432 to trade at 2372 per share Volume at the time topped 61 million shares above the stock s 65 day average volume of some 17 million Sprouts said it was expecting its total sales growth comparable store sales growth and earnings per share to be at the low end of its previously provided outlook The company also said it was expecting second quarter comparable stores sales growth to be relatively flat and expected earnings per share in the period between 49 cents and 53 cents per share Chip Molloy the company s chief financial officer said Sprouts was pleased with its first quarter performance but added Inflation is not slowing and customers are continuing to put a few less items in their baskets He also said Despite transaction comp continuing to be positive given the level of uncertainty in the marketplace we believe it is prudent to assume a more conservative approach to our outlook For the first quarter Sprouts reported EPS of 79 cents on sales of 164 billion In the year ago period the company reported EPS of 70 cents on sales of 158 billion On Thursday B of A Securities cut its price target on Sprout s stock to 25 per share from 40 and Stephens Co cut its price target to 28 per share from 30 as reported by Benzinga

Largely defying a macroeconomic geopolitical and technological maelstrom that has gutted other companies’ earnings Google parent Alphabet Inc on Tuesday reported financial results that fell slightly short of Wall Street estimates initially pushing its shares down 4 in after hours trading The search engine giant GOOGL GOOG the most dominant in digital advertising worldwide reported net income of 1644 billion or 2462 a share in its fiscal first quarter compared with net income of 1793 billion or 2629 a share in the same quarter last year Revenue after removing traffic acquisition costs was 5602 billion compared with 456 billion in the year ago period Overall revenue improved 23 to 6801 billion Analysts surveyed by FactSet had estimated net income of 2574 a share on ex TAC revenue of 561 billion and total revenue of 6805 billion Alphabet’s operating profit margin was 30 in the quarter as it was in the same quarter a year ago “Q1 saw strong growth in Search and Cloud in particular which are both helping people and businesses as the digital transformation continues” Alphabet Chief Executive Sundar Pichai said in a statement announcing the results Google’s numbers underscored a diverse business model that has reduced its exposure to several factors inflation lingering supply chain issues the war in Ukraine strict privacy rules imposed by Apple Inc AAPL that recently punished Snap Inc SNAP and are expected to bruise Facebook parent Meta Platforms Inc FB Twitter Inc TWTR and Pinterest Inc PINS when they report earnings this week In a note Tuesday Aaron Kessler internet analyst at Raymond James was most positive about Alphabet’s prospects despite “generally slowing” online advertising growth in the first quarter Google’s total advertising sales rose to 547 billion from 447 billion a year ago Search was 396 billion vs 319 billion a year ago YouTube ad sales continued to grow to 69 billion from 6 billion a year ago Google’s Cloud revenue jumped 44 to 58 billion placing the company third in cloud sales behind rivals Amazoncom Inc AMZN and Microsoft Corp MSFT Google’s stock has slid 18 so far this year The broader SP 500 index SPX has skidded 12 in 2022 Alphabet’s financial performance affirmed what Justin Patterson equity research at KeyBanc Capital Markets calls the “diversified” advertising model that makes the company “the least fundamental risk” to headwinds that have buffeted and battered ad competitors Meta and Pinterest

Lululemon Athletica Inc NASDAQLULU isset to report earnings for the latest quarter after the closing bell on Thursday On CNBC’s Options Action Kevin Kelly of Kelly Intelligence said Lululemon is down just 5 this year outperformingother broad based averages There were 16x more calls than puts on Wednesday implying a move of 9 compared to the average of 264 over the last eight reported quarters he added Don’t forget to check out our premarket coverage here There was a buyer of the December 320 put 435 call straddles that expires this Friday at an average of 121 per contract Kelly mentioned The trader expects Lululemon’s stock to make a big post earnings in either direction he stated LULU Price Action Shares of Lululemon gained 06 to 37233 in the regular trading session on Wednesday and edged higher by 02 in after hours trading Check out this HP Williams Sonoma And These 2 Other Stocks Insiders Are Selling Photo via Shutterstock

Valneva SE s shares plunged on Monday after the company said it will financially compensate IDT Biologika for terminating their collaboration on the production of its inactivated Covid 19 bulk vaccine VLA2001 At 0749GMT the stock is down 121 at EUR713 The French pharmaceutical company said late Friday that due to reduced orders from the European Commission it has suspended manufacturing of the vaccine and will pay IDT up to 362 million euros 362 million in cash and the equivalent of EUR45 million in kind According to the terms of an agreement signed in November 2021 IDT Biologika has been producing the VLA2001 bulk vaccine at its facilities in Germany and Valneva has been buying the manufactured batches The company said it has started delivering doses to EU member states that ordered the vaccine and is retaining inventory for potential additional supply Meanwhile it is also in talks with governments around the world as it aims to deploy around eight to 10 million doses of remaining inventory to international markets in the next six to 12 months

If history is any guide there may be trouble ahead for shares of Barclays NYSEBCS A so called death cross has formed on its chart and not surprisingly this could be bearish for the stock What To Know Many traders use moving average crossover systems to make their decisions When a shorter term average price crosses above a longer term average price it could mean the stock is trending higher If the short term average price crosses below the long term average price it means the trend is lower Why It s Important The 50 day and the 200 day simple moving averages are commonly used The death cross occurs when the 50 day moves below the 200 day This could mean the long term trend is changing That just happened with Barclays which is trading around 758 at publication time Remember Seasoned investors don t blindly trade Death Crosses Instead they use it as a signal to start looking for short positions based on other factors like price levels and company fundamentals events For seasoned investors this is just a sign that it might be time to start considering possible short positions TABLE Do you use the Death Cross signal in your trading or investing Share this article with a friend if you found it helpful This article was generated by Benzinga s automated content engine and reviewed by an editor

Cardano CRYPTO ADA ranks as one of the 10 largest cryptocurrencies by market capThe cryptocurrency has seen a sharp rise over the last week Here’s a look at how much a 100 investment could be worth if the coin returns to all time highs What Happened Charles Hoskinson the co founder of Ethereum CRYPTO ETH founded blockchain competitor Cardano after leaving his former project in 2014 Cardano was launched in 2017 and is now the seventh most valuable cryptocurrency by market capitalization Cardano uses a proof of stake model for the blockchain and competes with Ethereum and other cryptocurrencies The cryptocurrency uses less energy than Bitcoin CRYPTO BTC and is considered one of the top energy efficient blockchains After spikingin 2021 Cardano and other cryptocurrencies were hit hard in 2022 as the result of several cryptocurrency trading platforms and companies declaring bankruptcy The cryptocurrency market has started strong in 2023 with leading cryptocurrency Bitcoin up over80 year to date and recently topping the 30000 level Cardano and other cryptocurrencies have been gaining in recent weeks thanks to Bitcoin ssurgeconcerns over inflation and the collapse of several banks Related Link How To Buy Cardano ADA Investing 100 in Cardano Today At the time of writing Cardano tradedat 04466 gaining 14 over the last seven days The cryptocurrency has traded between 02404 and 09747 over the last 52 weeks a far cry from the all time high of 310 hit in September 2021 A 100 investment in Cardano today could buy 22391ADA If Cardano goes back to its all time high of 310 the 100 investment would be worth 69412 While it s not guaranteed that Cardano will ever return to the levels seen in September 2021 this look back and forward shows that a small investment can have large gains given thehigh volatility of the cryptocurrency market Read NextCardano s Head And Shoulder Technical Indicator Signals 44 Price Breakout Says Analyst Image Shutterstock

Treasury yields finished the New York session on Friday with their biggest multi quarter rise in at least a quarter century as investors positioned for aggressively higher interest rates this year Investors continued to fret about the economic impact of aggressive interest rate hikes by the Federal Reserve aimed at curbing the hottest inflation of the past four decades In comments made at a conference in New York Fed Vice Chair Lael Brainard said policy makers won t pull back from rate hikes prematurely and that it will take time for high interest rates to bring inflation down Data released on Friday only underscored her point While the personal consumption expenditure gauge of US inflation rose a mild 03 in August another measure that omits volatile food and energy costs jumped 06 last month above Wall Street s 05 forecast for the so called core PCE in a more worrisome signThe rate of inflation over the past year slowed to 62 from 64 in the prior month However the core rate of inflation in the past 12 months climbed to 49 After factoring in high inflation consumer spending barely rose last month data showed Friday Meanwhile Americans remain broadly pessimistic about the economic outlook Quarter end rebalancing flows are estimated to have resulted in about 235 billion moving out of equities and into fixed income according to BofA Securities strategists What analysts are saying It s the end of the week month and quarter not a moment too soon The series of repricings that have occurred since the September 21 FOMC rate hike suggest that the start of the fall was the start of the fall said BMO Capital Markets rates strategists Ian Lyngen and Ben JefferyThe macro narrative has quickly shifted from policy makers focus on inflation as public enemy number one toward a not so quiet resignation to the fact tighter global monetary policy is not only unavoidable but poised to err on the side of demand destruction they wrote in a note

The most oversold stocks in the health care sector presents an opportunity to buy into undervalued companies The RSI is a momentum indicator which compares a stock s strength on days when prices go up to its strength on days when prices go down When compared to a stock s price action it can give traders a better sense of how a stock may perform in the short term An asset is typically considered oversold when the RSI is below 30 Here’s the latest list of major oversold players in this sector having an RSI near or below 30 Third Harmonic Bio Inc NASDAQTHRD Third Harmonic Bio last month announced discontinuation of its Phase 1b study of THB001 in chronic inducible urticaria The company’s stock has a 52 week low of 389 RSI Value 2867 THRD Price Action Shares of Third Harmonic Bio settled at 425 on Thursday and added 64 in after hours trading Bio Techne Corporation NASDAQTECH Wells Fargo recently upgraded the stock from Underweight to Equal Weight The company’s stock has a 52 week low of 6800 RSI Value 2919 TECH Price Action Shares of Bio Techne rose 06 to close at 8032 on Thursday AbbVie Inc NYSEABBV Piper Sandler recently maintained AbbVie with an Overweight and raised the price target from 155 to 157 The company’s stock has a 52 week low of 13305 RSI Value 2894 ABBV Price Action Shares of AbbVie fell 03 to close at 14740 on Thursday and added 02 in after hours trading 1Life Healthcare Inc NASDAQONEM 1Life Healthcare during November posted a Q3 loss of 057 per share The company’s 52 week low is 594 RSI Value 2909 ONEM Price Action Shares of 1Life Healthcare fell 07 to close at 1598 on Thursday and lost 08 in after hours trading Fate Therapeutics Inc NASDAQFATE HC Wainwright Co downgraded Fate Therapeutics from Buy to Neutral and lowered the price target from 115 to 7 The company has a 52 week low of 402 RSI Value 2479 FATE Price Action Shares of Fate Therapeutics fell 19 to close at 530 on Thursday and lost 13 in after hours trading Read More Investor Optimism Improves Further Following GDP Report

BENGALURU Jan 19 Reuters Indian stocks were set to open lower on Thursday after weak US economic data heightened recession worries while persistent hawkish comments from US Federal Reserve officials also added to aversion for risky assets India s NSE stock futures listed on the Singapore exchange were down 053 at 18125 as of 817 am IST US data showed retail sales fell by the most in a year in December while manufacturing output recorded its biggest drop in nearly two years Fed policymakers on Wednesday signalled they will push on with more interest rate hikes even as inflation shows signs of having peaked and economic activity is slowing In broader markets the MSCI s gauge of Asia Pacific stocks outside Japan MIAPJ0000PUS was down 08 On the domestic front Nifty 50 NSEI members Hindustan Unilever Ltd HLLNS and Asian Paints ASPNNS are scheduled to report their third quarter results later in the day Investors will look for commentary on the impact of inflation on demand Meanwhile foreign institutional investors were net sellers of Indian shares offloading 319 billion rupees 3917 million worth of equities on Wednesday They snapped a 17 day selling streak the previous day having sold 24651 billion rupees since Dec 23 Domestic investors bought 1226 billion rupees of shares as per provisional NSE data Losses in equities could be capped as oil prices fell about 1 on worries of a possible US recession stoking fears of a drop in demand India the world s third biggest importer of oil benefits from a slide in prices as it brings down imported inflation IndusInd Bank INBKNS It reported a bigger than expected jump in third quarter profit on Wednesday lifted by strong loan growth and a drop in provisions for bad loans Aurobindo Pharma ARBNNS US drug regulator issues Form 483 with two observations after inspecting the company s subsidiary APL Healthcare s units in Telangana Co says that observations are procedural in nature Vedanta VDANNS Co approves acquisition of Meenakshi Energy for a consideration of 1440 bln rupees Persistent Systems PERSNS Co reports rise in consolidated net profit in third quarter approves dividend of 28 rupees per share Reporting by Rama Venkat and Bharath Rajeswaran in Bengaluru Editing by Eileen Soreng

Someone with a lot of money to spend has taken a bullish stance on DexCom DXCM And retail traders should know We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga Whether this is an institution or just a wealthy individual we don t know But when something this big happens with DXCM it often means somebody knows something is about to happen So how do we know what this whale just did The overall sentiment of these big money traders is split between 52 bullish and 47 bearish Out of all of the special options we uncovered 12 are puts for a total amount of 456641 and 11 are calls for a total amount of 494505 Taking into account the Volume and Open Interest on these contracts it appears that whales have been targeting a price range from 825 to 1100 for DexCom over the last 3 months Looking at the volume and open interest is a powerful move while trading options This data can help you track the liquidity and interest for DexCom s options for a given strike price Below we can observe the evolution of the volume and open interest of calls and puts respectively for all of DexCom s whale trades within a strike price range from 825 to 1100 in the last 30 days DexCom Option Volume And Open Interest Over Last 30 Days Where Is DexCom Standing Right Now With a volume of 1896653 the price of DXCM is down 107 at 10105 RSI indicators hint that the underlying stock may be approaching overbought Next earnings are expected to be released in 17 days What The Experts Say On DexCom BTIG has decided to maintain their Buy rating on DexCom which currently sits at a price target of 110 Piper Sandler has decided to maintain their Overweight rating on DexCom which currently sits at a price target of 120 Stifel has decided to maintain their Buy rating on DexCom which currently sits at a price target of 120 Options are a riskier asset compared to just trading the stock but they have higher profit potential Serious options traders manage this risk by educating themselves daily scaling in and out of trades following more than one indicator and following the markets closely If you want to stay updated on the latest options trades for DexCom Benzinga Pro gives you real time options trades alerts

Japanese auto stocks fell in early trade on concerns that drawbacks of the yen s depreciation such as higher costs for raw materials will outweigh benefits including possible greater profits for the country s exporters Toyota Motor Corp fell as much as 34 on Monday while Honda Motor Co and Nissan Motor Co shed as much as 33 and 39 respectively A cheap yen is usually viewed as a positive catalyst for Japanese auto stocks as it can drive export growth but there are growing market concerns about the currency s latest slide as it is occurring concurrently with higher commodity prices and supply shortages The yen has weakened by almost 15 this year against the US dollar So far this quarter the yen has fallen 96 against the US dollar heading for the currency pair s biggest quarterly drop since the fourth quarter of 2016 according to FactSet During the current phase of JPY depreciation the negative aspects of the weak currency especially the deterioration in household and corporate terms of trade have drawn attention in the markets and food and energy prices have soared on top of that Barclays analysts said in a research note Covid 19 lockdowns in China one of Japanese auto makers biggest markets could also weigh on demand for Japanese cars Citi analysts said in a note that Japanese auto makers overall experienced declines in sales volume in May from a year earlier

Zynerba Pharmaceuticals Inc NASDAQZYNE presented positive long term 38 week data from the phase 2 INSPIRE trial with Zygel in children and adolescents with 22q112 deletion syndrome The data were presented in a poster at the 61st annual meeting of the American College of Neuropsychopharmacology being held December 4 7 2022 in Phoenix Arizona The poster titled “An open label tolerability and efficacy study of ZYN002 cannabidiol administered as a transdermal gel to children and adolescents with 22q112 deletion syndrome INSPIRE” shows that through 38 weeks of treatment statistically significant improvements were seen in children and adolescents treated with Zygel in the pediatric anxiety rating scale all five scales of the anxiety depression and mood scale and all five subscales of the aberrant behavior checklist – community These results are consistent with the previously reported 14 week treatment data suggesting a positive risk benefit profile for Zygel in improving anxiety related and behavioral symptoms in children and adolescents with 22q when added to a stable standard of care “The 38 week data from the phase 2 INSPIRE trial suggest children and adolescents with 22q who received Zygel over a longer term continued to show improvement in anxiety related and behavioral symptoms” stated Armando Anido chairman and CEO of Zynerba “These data provide additional support and reinforce our belief in the potential of Zygel for the treatment of anxiety and behavioral symptoms in children and adolescents with 22q” The INSPIRE trial enrolled 20 patients in the US and Australia Seventeen of the 20 patients completed week 14 period 1 Patients with a ≥35 improvement in the aberrant behavior checklist – community irritability subscale were allowed to continue treatment for an additional 24 weeks Thirteen patients continued treatment with 12 patients completing week 38 Period 2 At the end of both period 1 and period 2 statistically significant improvements from baseline were seen in the pediatric anxiety rating scale all five subscales of the anxiety depression and mood scale and all five subscales of the aberrant behavior checklist – community Zygel was generally well tolerated and the safety profile was consistent with data from previous Zygel clinical trials Over the 38 week treatment period three patients reported treatment related adverse events which were all mild application site adverse events Three patients experienced serious adverse events unrelated to Zygel and one patient discontinued due to an adverse event unrelated to Zygel Get your daily dose of cannabis news on Benzinga Cannabis Don’t miss out on any important developments in the industry Photo by Esteban Lopez on Unsplash Related News Zynerba Pharmaceuticals RD Expenses For Q3 Reach 5M Here Are The Details Zynerba Pharmaceuticals RD Expanses For Q2 Reach 54M Here Are The Details Zynerba Pharmaceuticals Enters Into Equity Purchase Agreement For Up To 20M

A fresh profit warning and a damaging split from Kanye West are among the factors endangering Adidas AG s ability to meet credit metrics ahead Moody s Investor Service said Friday cutting its credit outlook on the German sporting goods company to negative from stable Ratings agency Moody s said it is keeping an A2 credit rating on Adidas noting the company s leading position in a healthy sportswear industry its significant scale and its wide geographic reach as well as its good liquidity and financial strategy However there is a risk that Adidas may not attain the credit metrics necessary for its rating over the next year to 18 months Moody s said While the most recent profit warning last month was largely down to non recurring costs relating to an end to the group s Russian operations other headwinds are more likely to persist in dragging the top line and earnings the agency said Moody s pointed in particular to a difficult consumer environment in Europe where spending is being squeezed by inflation and soaring energy bills as well as a slow recovery in the vital China market Adidas s challenges have been exacerbated by the recent split with rapper and designer Kanye West on label Yeezy with a resulting further hit to earnings Moody s said The company can however launch the existing design under new branding which should offset the losses to some extent the agency noted A spokesperson for Adidas declined to comment on the agency s lower outlook

Allianz chief economic adviser and noted economist Mohamed El Erian believes inflation is going to remain sticky and that when it reaches 4 there’s going to be a major decision to be made by the society on what the next steps would be “We are not going back to where we came from for many reasons One is the unintended consequences of a ridiculous regime of very low interest rates and infinite QE Inflation is not going to come down in an overly fashion We are going to get sticky inflation When we get to 4 that s going to be a major decision to be made by society as to what to do next So we are not going to the old regime We are exiting one regime and entering another regime of money being priced more appropriately” El Erian said on Bloomberg TV Also Read How To Invest In Startups Major Wall Street indices closed in the green on Tuesday albeit just marginally higher ending a four day losing streak as investors and traders are watching out for a much anticipated year end rally Surprisingly market participants decided to shrug off a surprise move by the Bank of Japan to widen its yield cap on its long term bonds – a move that sent bond yields soaring across the world The SPDR SP 500 ETF Trust NYSESPY closed 014 higher while the Vanguard Total Bond Market Index Fund ETF NASDAQBND shed 066 On Japan El Erian noted that he does not see the possibility of forced sales of foreign assets by Japanese institutions following the government’s surprise move “To those wondering about the very muted reaction of US markets to the Bank of Japan news The main contagion risk here is the possible forced sale of credit and other foreign assets by Japanese institutions The move in JGB yields is not large enough as of now to force such sales” he said in his tweet “Think of the BoJ’s increasing JGB purchases as seeking to minimize the risk of markets testing the new 50bps ceiling at the risk of aggravating the structural stress on the functioning of the government bond market Lots of research papers will be written on this policy experiment” he added Read Next Cathie Wood Adds 26M Of Tesla Even As Stock Crashes 8 After Wall Street Slashes Price Targets Photoby IMF on Flickr

Colon cancer is the third most deadly cancer in both men and women in the United States According to the American Cancer Society nearly 107 000 new cases have beendiagnosed in 2023 alone Researchers have been suggesting thatcannabinoids the active compounds found in cannabis have anti cancer properties and might even help to kill cancer cells From a recent study that proved medicinal marijuana is a safe and effective complementary treatment for pain relief in patients with cancer to companies like Cannabotech whichis working on cannabinoid based drugs touted as a tool to eliminating cancer cellsauthoritative research on the topic is growing Anti Tumor Effects Of CBD A new study published last month in the Journal of Pharmaceutical Analysis took a closer look at the effects of cannabidiol CBD on the microenvironment of tumors formed by malignant colon cancer cells The study analyzed the specific anti cancer mechanism of CBD by utilizing single cell RNA sequencing scRNA seq and single cell ATAC sequencing scATAC seq technologies Scientists from Nanjing Sichuan and Shanghai Jiao Tong Universitiesfound that CBD has a positive effect on shaping the tumor microenvironment preventing tumor progression Why is the tumor microenvironment important The microenvironment of tumor cells can affect their development and growth As such successful treatment often necessitates a combination of drugs that target the vascular system supplying the cells and immune system whichcould both combat andor aid them and the malignant cells themselves according to Cell Press In terms of colorectal tumors they tend to create an immunosuppressive microenvironment that results in preventing tumors from giving a positive response to immunotherapy CBD inhibits colorectal cancer progression by modulating the suppressive tumor microenvironment TME the researchers said Photo Courtesy of OMfotovideocontent on Shutterstock

Binance CEO Changpeng Zhao and Coinbase NASDAQCOIN CEO Brian Armstrong have lost a good chunk of their personal wealth following recent accusations by the Securities and Exchange Commission SEC of violating securities regulations What Happened According to Bloomberg s Billionaires Index Zhao’s net worth declined by 14 billion to 26 billion after the SEC filed a lawsuit against Binance on June 5 Armstrong s net worth decreased by 361 million reaching 22 billion after Coinbase was sued by the SEC on June 6 This represents a combined personal loss of 1761 billion for the two business executives Bloomberg also highlighted that both CEOs had seen their personal wealth increase earlier this year as Zhao’s net worth rose by 117 and Armstrong’s rose by 61 See More A Stay At The Floating Palace From James Bond s ‘Octopussy’ Why It Matters Zhao s net worth is based on his private holdings in Binance Holdings and BinanceUS which are not publicly disclosed The SEC s allegations against Binance and Coinbase have caused a bullish momentum in the wider crypto market Bitcoin CRYPTO BTC the world s biggest cryptocurrency by market capitalization broke the 27000 mark and continues to trend upward while Ethereum CRYPTO ETH and Dogecoin CRYPTO DOGE rose too Read Next Bitcoin Regains 27K Ethereum Dogecoin Soar Despite SEC Lawsuits Against Binance Coinbase Analyst Foresees 42K Move For Apex Crypto

A British pound coin is seen in front of displayed stock graph in this illustration taken November 9 2021 REUTERSDado RuvicIllustration July 18 Reuters UK s main stock indexes gained on Monday as an upbeat global mood lifted economically sensitive sectors including commodities and banks while shares of Haleon spun off from drugmaker GSK debuted on the London Stock Exchange The blue chip FTSE 100 FTSE gained 11 by 0713 GMT and the domestically focussed midcap index FTMC climbed 07 Overall the global mood was buoyant after a Wall Street rally on Friday when better than expected earnings and easing worries of a big 100 basis point rate hike by the Federal Reserve this month boosted sentiment Haleon HLNL started trading at 330 pence giving it a market valuation of around 31 billion pounds 3700 billion in the biggest London listing in a decade Shares of GSK rose 35 read more Euromoney ERML surged 95 after a group led by French investment firm Astorg Asset Management said it would offer to buy the British business to business information company in a deal valued at 166 billion pounds 197 billion read more Food delivery company Deliveroo shares ROOL slipped 19 after it slashed its full year revenue guidance blaming a worsening economic outlook as pressures on consumers mount read more Direct Line DLGDL tumbled 122 after the car insurer revised downwards its profitability outlook for the year blaming a period of heightened volatility in the market read more Reporting by Sruthi Shankar in Bengaluru Editing by Rashmi Aich

March 8 Welcome to the home for real time coverage of markets brought to you by Reuters reporters You can share your thoughts with us at marketsresearchthomsonreuterscom Data released on Tuesday and late Monday tells market watchers what they already knew demand is robust running circles around a slowly recovering supply chain The gap in the value of goods and services imported to the US versus those of domestic origin exported abroad USTBALECI widened more than expected in January to 897 billion the largest deficit on record read more The Commerce Department s reading was 26 billion bigger than the consensus forecast and was driven by surging imports as demand in the US continued to outpace the rest of the world a state of affairs which could bode ill for first quarter economic growth Net exports have been a drag on GDP over the last six quarters and the early data suggest another negative contribution in Q1 writes Rubeela Farooqi chief US economist at High Frequency Economics who adds overall trade flows are at historic highs despite supply chain disruptions and logistical challenges The deficit is poised to remain elevated for now on ongoing strong demand for imports Farooqi says The closely watched goods trade gap with China held steady at 364 billion In a separate report small business owners grew grumpier in February according to the National Federation of Independent Business NFIB read more The NFIB s Business Optimism index USOPINECI shed 14 points to land at 957 the sourest reading since January 2021 weighed down by inflation concerns Inflation continues to be a problem on Main Street leading more owners to raise selling prices again in February says Bill Dunkelberg NFIB s chief economist The percentage of respondents identifying hot inflation as their biggest problem hit the highest level in 42 years and the net percent of participants hiking average selling prices reached a 48 year high But it s not all bad news according to Ian Shepherdson chief economist at Pantheon Macroeconomics Capex intentions dipped two points but are holding up well and are consistent with the idea that business fixed investment will rise at a double digit pace over the next year he writes It should be noted that the NFIB is a politically active membership organization and the index was last lower the month President Joe Biden was inaugurated Finally in more ancient news on Monday afternoon the Federal Reserve released its data on outstanding consumer credit USCREDECI which increased by 684 billion marking an unexpected deceleration and missing estimates by a country mile Economists expected total consumer credit debt to accelerate by 238 billion in January Total consumer credit outstanding currently sits at about 44 trillion An increase in non revolving credit which includes big ticket items such as autos and tuition did the heavy lifting as revolving credit or credit card debt was essentially unchanged This bucks the trend a bit credit card spending has long since risen above pre pandemic levels while non revolving credit a smaller piece of the total pie is yet to recover ground lost to COVID It pays to remember credit outstanding is not the same as consumer spending An elevated saving rate has left the average consumer with stuffed piggy banks and fat wallets After a green start Wall Street took a u turn in morning trading extending Monday s sell off which confirmed a correction for the Dow and a bear market for the Nasdaq Crude prices continued to surge taking energy stocks SPNY with them CME e mini Nasdaq 100 futures have been beaten up pretty badly over the past three trading days In fact they ended Monday at their lowest level since mid May 2021 which put them down 196 from their November 19 record closing high Of note the Nasdaq Composite IXIC ended Monday down 201 from its November 19 record close officially putting it in bear market territory Overnight action saw the futures fall as low as 1310325 before then snapping back With this reversal the futures have yet to violate their February 24 intraday low at 1302575 Meanwhile the daily RSI at just over 3000 is attempting to stabilize above its February 23 low at 2790 If so this momentum indicator will have the potential to establish a second higher low vs its late January trough of 17533 Such a convergence could signal building positive momentum and therefore the potential for a surprise upside turn In that event however the futures would still have to contend with stiff resistance in the form of the descending 30 day moving average DMA which has been consistently capping strength since early to mid January Additionally since late November the RSI has been exhibiting bearish behavior by being unable to muster enough strength to reclaim the 7000 overbought threshold Thus on any strength traders will be eyeing future s action closely vs the 30 DMA along with the RSI to add confidence in the sustainability of any bounce read more On a break of 13025 the next support is at the mid May low of 12896 This is just ahead of the 382 Fibonacci retracement of the entire March 2020November 2021 advance at 1287357 FOR TUESDAY S LIVE MARKETS POSTS PRIOR TO 0900 EST1400 GMT CLICK HERE Terence Gabriel is a Reuters market analyst The views expressed are his own

A whale with a lot of money to spend has taken a noticeably bullish stance on Devon Energy Looking at options history for Devon Energy NYSEDVN we detected 10 strange trades If we consider the specifics of each trade it is accurate to state that 50 of the investors opened trades with bullish expectations and 50 with bearish From the overall spotted trades 5 are puts for a total amount of 302237 and 5 calls for a total amount of 368380 What s The Price Target Taking into account the Volume and Open Interest on these contracts it appears that whales have been targeting a price range from 400 to 950 for Devon Energy over the last 3 months Volume Open Interest Development Looking at the volume and open interest is a powerful move while trading options This data can help you track the liquidity and interest for Devon Energy s options for a given strike price Below we can observe the evolution of the volume and open interest of calls and puts respectively for all of Devon Energy s whale trades within a strike price range from 400 to 950 in the last 30 days Devon Energy Option Volume And Open Interest Over Last 30 Days Biggest Options Spotted Symbol PUTCALL Trade Type Sentiment Exp Date Strike Price Total Trade Price Open Interest Volume DVN CALL TRADE BEARISH 011924 4000 2125K 468 85 DVN PUT TRADE BULLISH 121622 9500 1872K 24 62 DVN CALL TRADE BULLISH 042123 6500 576K 20K 82 DVN CALL TRADE BULLISH 123022 6500 400K 423 728 DVN PUT SWEEP BULLISH 120922 7100 352K 536 100 Where Is Devon Energy Standing Right Now With a volume of 5164206 the price of DVN is down 054 at 639 RSI indicators hint that the underlying stock may be approaching oversold Next earnings are expected to be released in 68 days What The Experts Say On Devon Energy Argus Research has decided to maintain their Buy rating on Devon Energy which currently sits at a price target of 90 Raymond James has decided to maintain their Strong Buy rating on Devon Energy which currently sits at a price target of 87 Barclays has decided to maintain their Equal Weight rating on Devon Energy which currently sits at a price target of 86 Options are a riskier asset compared to just trading the stock but they have higher profit potential Serious options traders manage this risk by educating themselves daily scaling in and out of trades following more than one indicator and following the markets closely If you want to stay updated on the latest options trades for Devon Energy Benzinga Pro gives you real time options trades alerts

What are Value Stocks A value stock traditionally has a lower price when compared to stock prices of companies in the same industry This indicates that the company may be undervalued as investors are not expressing as much interest in such companies The most commonly used way to check for value is with the price to earnings multiple or PE A low PE multiple is a good indication that the stock is undervalued Benzinga Insights has compiled a list of value stocks in the consumer cyclical sector that may be worth watching Most recently LCI Indus reported earnings per share at 606 whereas in Q1 earnings per share sat at 771 Most recently the company reported a dividend yield of 316 which has decreased by 055 from last quarter s yield of 371 Hanesbrands s earnings per share for Q2 sits at 028 whereas in Q1 they were at 034 Most recently the company reported a dividend yield of 519 which has increased by 091 from last quarter s yield of 428 Most recently Asbury Automotive Group reported earnings per share at 1004 whereas in Q1 earnings per share sat at 927 This quarter Proterra experienced an increase in earnings per share which was 043 in Q1 and is now 038 Ethan Allen Interiors saw an increase in earnings per share from 093 in Q3 to 125 now These 5 value stocks were selected by Benzinga Insights based on quantified analysis While this methodical judgment process is not meant to make final decisions our technology can give investors additional perception into the sector

The Amundi company logo is seen at their headquarters in Paris France October 7 2015 REUTERSPhilippe Wojazer HONG KONG Jan 21 Reuters Europe s largest asset manager Amundi AMUNPA has garnered more than 11 billion of assets from Chinese investors since it became the first foreign controlled joint venture JV to launch operations in the country 15 months ago Huihua Wealth Management 55 owned by Amundi and the rest by a unit of Bank of China the country s fourth largest lender was launched in Sept 2020 as Beijing opened up its booming wealth management market to foreign firms All of Huihua s products are distributed by Bank of China 601988SS The strong performance by Amundi s venture comes just as global giants such as BlackRock BLKN Schroders and UBS UBSGS have moved towards forming similar majority owned wealth tie ups since Beijing first allowed this in 2019 At a household level less than 20 of wealth was invested into financial assets meaning that there could still be a big shift of wealth from deposit and newly earned income into financial assets into wealth management and into funds Zhong Xiaofeng Amundi s greater China chairman told Reuters in an interview on Thursday Chinese banks dominate the distribution of proprietary and third party wealth products in the country BlackRock s majority owned wealth joint venture with China Construction Bank launched in May last year with the roll out of two wealth management products mainly serving private bank clients of the Chinese bank Amundi and BlackRock s ventures are the only foreign majority wealth platforms that are up and running Facing a squeeze in fees assets managers in developed markets are chasing growth and have been looking to expand in client facing wealth segments They see enormous opportunity in China where the local 44 trillion wealth management market expanded by nearly 8 in the first nine months of 2021 The majority of Amundi s wealth JV offerings are in strategies which aim to generate returns superior to fixed income A small percentage of the assets are in equities Globally Amundi had 181 trillion euros 205 trillion in management as of last September Huihua s 70 billion yuan 11 billionof assets were spread across more than 100 products as of the end of last year Despite the strong performance in the venture with Bank of China it has not all been smooth sailing for Amundi in the country Amundi s fund joint venture with Agricultural Bank of China in which Amundi owns 33 reported 163 billion euros of outflows in the first nine months of 2021 according to the company as the Chinese bank withdrew assets from its own fund subsidiary Zhong said the redemptions were due to China s regulatory overhaul of the fund management industry between 2018 and 2021 Reporting by Selena Li Editing by Anshuman Daga and Kenneth Maxwell

BitNile Holdings IncNYSENILE a diversified holding company BitNile or the Company today published an unaudited update on Bitcoin production and miner installation The number of miners and production capacity metrics within this press release represent the S19j Pro and XP Antminers at the Michigan data center and the Wolf Hollow hosting facility in Texas BitNile s Bitcoin mining production is currently operating at an estimated annualized run rate of 12494 Bitcoin based on current market conditions including a mining difficulty of 3695 trillion BitNile has increased the number of miners in possession to 20441 S19j Pro and XP Antminers which once installed and energized will generate a combined processing power of approximately 221 exahashes per second EHs the computational power that is being used to mine Bitcoin During the month of November 2022 BitNile received 922 Bitcoin as a result of its miners providing computing power to a mining pool operator and to date BitNile has received a total of 6138 Bitcoin Milton Todd Ault III the Company s Executive Chairman stated The newest green XP miners installed in Michigan have allowed us to reach a new high of approximately 106 EHs The team is still working through the issues at the Wolf Hollow hosting facility in Texas as well as developing new relationships to operate the remaining machines As previously disclosed BitNile has entered into purchase agreements with Bitmain Technologies Limited for a total of 23065 Bitcoin miners including 4600 environmentally friendly S19 XP Antminers that feature a processing power of 140 terahashes per second THs 17325 S19j Pro Antminers that feature a processing power of 100 THs and 1140 S19 XP Hydro Antminers that feature a processing power of 255 THs Once all of the miners are fully deployed and operational BitNile expects to achieve a mining production capacity of approximately 266 EHs The Company notes that all estimates and other projections are subject to the actual delivery and installation of Bitcoin miners the volatility in Bitcoin market price the fluctuation in the mining difficulty level the energizing of the Texas hosting facility and other factors that may impact the results of production or operations For more information on BitNile and its subsidiaries BitNile recommends that stockholders investors and any other interested parties read BitNile s public filings and press releases available under the Investor Relations section atwwwBitNilecomor available atwwwsecgov

The Securities and Exchange Commission and Justice Department are investigating cryptocurrency platform FTX following its sudden implosion this week a person familiar with the matter said Staff at the two law enforcement agencies were in close contact Wednesday the person added The Justice Department prosecutes criminal violations such as fraud while the SEC enforces civil investor protection laws Spokesmen for the Justice Department and SEC declined to comment FTX didn’t respond to requests for comment The SEC’s investigation which has been continuing for months is focused on the company’s US subsidiary FTXUS which lists dozens of crypto tokens Agency officials believe some of these assets as well as FTX’s lending product might constitute securities that under US law should have been registered with the SEC before being sold to investors the person said If that is the case then the company’s handling of customer assets might also violate laws governing US exchanges “We will continue to do our job as a cop on the beat” SEC Chairman Gary Gensler said in an event hosted on Wednesday by the Healthy Markets Association “The runway is getting shorter for some of these intermediaries I have to say” An expanded version of this report appears on WSJcom Senate control could be decided by these remaining midterm votes

European flags are seen in front of the European Central Bank ECB building in Frankfurt Germany July 21 2022 REUTERSWolfgang Rattay BRUSSELS Aug 17 Reuters Euro zone economic growth was slightly less robust in the second quarter than previously estimated but still strong revised data from the European statistics office showed on Wednesday and employment rose again Eurostat said gross domestic product in the 19 countries using the euro rose 06 quarter on quarter in April June for a 39 year on year rise The office had previously estimated the quarterly growth at 07 and the year on year rise at 40 Eurostat also said that euro zone employment rose 03 quarter on quarter for a 24 year on year increase Economists believe the second quarter growth might be the economy s last hurrah before ever higher inflation and supply chain problems cause a mild recession in the course of the next 12 months Looming over all of Europe’s economies is the war in Ukraine Uncertainty over the course of the conflict has knocked consumer and business confidence while fears remain that a full cut off of Russian gas supplies would plunge the bloc into a much deeper downturn The second quarter growth was mainly a result of a strong performance by Italy and Spain which grew 10 and 11 quarter on quarter respectively and despite stagnation in the bloc’s biggest economy Germany

San Francisco Supervisor Ahsha Safaí who is also a mayoral candidate for 2024 proposed a ban on new marijuana dispensaries in the city Citing safety concerns and an unregulated market Safaí s controversial move has ignited a heated debate within the city According to The SF Standard the city s cannabis landscape has been the subject of both praise and scrutiny since the legalization of recreational use in 2016 However Safaí saysit s time to reassess the situation Highlighting the abundance of existing cannabis retail storefronts Safaí expressed his concerns over the alarming rise in break ins and public safety issues “Let’s be clear—we have no shortage of cannabis retail storefronts and many are suffering because of brazen break ins public safety concerns and an unregulated market that is not facing proper enforcement” His proposal calls for a temporary moratorium on new dispensary applications urging City Hall to prioritize processing existing equity applications Approximately 30 cannabis dispensaries and 30 medical cannabis stores already operate in San Francisco Critics argue that the proposed ban could hinder industry growth and stifle competition According to supervisor Rafael Mandelman Cannabis businesses create good jobs for San Franciscans and provide safe regulated products to their customers” The proposal faces its first hearing on May 25 with the Public Safety and Neighborhood Services Committee leaving the future of cannabis expansion in the city uncertain Photo Courtesy OfTim FosterOnUnsplash

DNB Bank ASA on Thursday lifted its dividend after posting a rise in fourth quarter net profit as earnings were boosted by higher net interest income and fees Norway s largest lender made a profit attributable to shareholders of 588 billion Norwegian kroner 6671 million compared with NOK508 billion a year earlier Net interest income rose 85 to NOK1029 billion it said Analysts polled by FactSet had expected net profit of NOK614 billion and net interest income of NOK1004 billion The bank is targeting a return on equity above 12 and it said it is set to deliver on this target by the end of 2023 Between 2021 and 2023 the annual increase in lending volumes is still expected to be around 3 4 while net commissions and fees are still expected to rise by 4 5 annually with a cost to income ratio below 40 DNB s common equity Tier 1 capital ratio a measure of a bank s financial strength rose to 194 from 187 it said The bank proposed a dividend of NOK975 for 2021 from NOK900 the previous year

JAKARTA Jan 13 Reuters Indonesia s fiscal deficit this year is expected to shrink to 43 of gross domestic product narrower than the 485 initially predicted media reported citing the finance ministry s head of fiscal policy office A smaller fiscal deficit means the government could reduce its bond issuance target for 2022 An uptrend in commodity prices already gave some windfall revenues for Southeast Asia s largest economy last year which helped the government to sharply reduce the 2021 budget deficit to 465 of GDP from a 57 gap approved by parliament read more Finance ministry official Febrio Kacaribu told a briefing new tax measures passed in October such as the valued added tax hike a higher tax rate for the high income earners the cancellation of corporate tax cut and a tax amnesty programme would boost 2022 revenue collection media reported The government also expected a stronger economic recovery from the COVID 19 pandemic and high commodity prices to support 2022 s tax take Febrio was cited as saying

Bright Green Corporation NASDAQBGXX is clapping back at statements made by its former CEO John Fikany TheStockwells specifically Bright Green director Lynn Stockwell reportedly approached Fikany to return as CEO Bright Green refuted this See Also Bright Green Plans To Raise 500M Under EB 5 Capital Program Fikany has filed a lawsuit against Bright Green alleging fraud Bright Green insists it remains fully compliant with its Nasdaq listing and Securities and Exchange Commission SEC reporting before and after the listing There have been no allegations of securities fraud the company stated The company remains focused on the execution of its strategy including processing the first applications following the announcement of the United States Citizenship and Immigration Services “USCIS” EB 5 program and remains focused on concluding the DEA registration process an important milestone for the Company The Benzinga Cannabis Capital Conference Is Back The most successful cannabis business event in the world theBenzinga Cannabis Capital Conferencereturns to Miami for its 16th edition This is the place where DEALS GET DONE where money is raised MA start and companies meet investors and key partners Join us at the Fontainebleau Miami Beach Hotel in Florida on April 11 12 Don’t miss outSecure your tickets now Prices will surge very soon Image Credits Billion Photos and Yarygin by Shutterstock Edited By Benzinga

As our economy continues to recover from the Covid 19 pandemic greater focus has been paid on the Federal Reserve System The Fed is tasked with maximizing employment stabilizing prices and maintaining interest rates making it critical to our overall growth in the years to come There are currently several positions on the Federal Reserve Board of Governors that need to be filled As the Senate considers these nominees it is important to understand what an important role they play in shaping the economy and what that means for small businesses who create half of our nation’s jobs In fact small business leaders have sent a letter of support to the US Senate Banking Committee leadership in advance of their confirmation vote on February 15 calling for quick confirmation As a member of the Council of Economic Advisers Heather Boushey advises the President and the Administration on economic policy I recently had the opportunity to speak with her about the Federal Reserve and the importance of confirming these nominees I am grateful for her taking the time and below is a summary of our conversation Rhett Buttle In general how are you feeling about the current state of our economic recovery from the pandemic specifically how it relates to small business Health Boushey With economic growth faster than any year since 1984 and unemployment at 4 the economy has rebounded from the recession thanks to the policies of this Administration The January jobs report is a testament to our strong recovery the 467000 jobs added this month came in well above market expectations and the labor force participation rate reached a new pandemic high of 622 Alongside this overall economic strength many small businesses have been able to make a remarkable—and swift—recovery We can see this in the data In 2021 new small business applications surged Small business applications that the Census Bureau believes will become a firm with a payroll—what are called “high propensity” applications—are up nearly 35 from their January 2020 level Further establishments with fewer than 50 people have been adding jobs to the economy since the third quarter of 2020 including roughly 750000 for the fourth quarter of 2021 the period with most recent data Rhett Buttle How does the Federal Reserve’s work directly impact the private sector small businesses and Main Street Heather Boushey The Federal Reserve’s policy making touches every part of the economy They have a dual mandate to push the economy towards full employment and to ensure price stability One of their most important tools is setting the Federal Funds rate which affects interest rates for the economy more generally and thus affects both aggregate employment and price stability Changes to the cost of borrowing directly affect the demand for all kinds of investments which in turn drives the level of economic activity and the pace of price changes For example for those looking to buy or refinance a home Fed policy affects mortgage rates from large companies looking to raise money through capital market to small businesses who may be looking to get a loan from a local bank Fed policy affects the interest rate they have to pay affecting how much they invest and thus produce The Federal Reserve also plays a critical supervisory role for large banking institutions which millions of Americans and small businesses interact with on a daily basis The Fed ensures that these financial institutions are compliant with the variety of regulations that promote financial stability Rhett Buttle How do unfilled seats on the Federal Reserve’s Board of Governors hinder its ability to carry out its mission and what are the downstream effects for small business owners Heather Boushey The Federal Reserve’s Board of Governors is an important policymaking institution and as such it needs to be fully staffed The President has nominated a highly qualified slate of nominees who will bring decades of relevant experience as well as a diversity of lived experience to the Fed’s decisions on monetary policy and financial regulation As the President has made clear time and again the goal of economic policy is to strengthen America’s middle class and in order to reach that goal we need Governors who will focus economic policymaking towards fulfilling the Fed’s dual mandate of full employment and price stability Core to the Federal Reserve’s mandate is regulation that promotes financial stability This however becomes more difficult with unfilled Board seats Current economic conditions mean that the need for robust and thoughtful regulation is as pressing as ever and it is imperative that we fill the role of Vice Chair for Supervision—a position created after the financial crisis tasked with developing policy for the supervision and regulation of the large banks the Fed oversees Rhett Buttle Why is it critical for the Senate to confirm Sarah Bloom Raskin Lisa Cook and Philip Jefferson to be Fed governors Heather Boushey It is critical for the Senate to confirm Sarah Bloom Raskin Lisa Cook and Philip Jefferson to be Fed governors Lael Brainard to be Vice Chair and Jerome Powell to be re confirmed as Chair to build on progress made in our economic recovery Since the President took office the economy has created more than 67 million jobs and unemployment is down to 40—years faster than projected That is a testament to the President’s economic plan and his success in getting shots in arms and it is a testament to the work of the Federal Reserve under Chair Powell and Governor Brainard To continue our recovery and confront ongoing challenges as we emerge from the pandemic the United States needs independent and effective leadership at the Fed that will advance its goals of keeping inflation low and prices stable and creating a strong labor market that broadly benefits workers These nominees are positioned to deliver on those needs When we have leaders in the Federal government that reflect the diversity of our country there are better outcomes for all Americans This is especially true in our economy where too many groups have been historically left behind or altogether left out That is why—in addition to a wealth of experience in academia and government—these appointments bring long overdue diversity of thought to the Fed’s leadership with Lisa Cook as the first Black woman in history to serve on the board and Philip Jefferson as only the fourth Black man And as a former Deputy Treasury Secretary and member of the Federal Reserve Board Sarah Bloom Raskin is incredibly well qualified to be Vice Chair for Supervision Rhett Buttle As we continue to build back from Covid 19 how do appointments like these directly impact our recovery Heather Boushey For an equitable recovery to continue we need to ensure that a broad diversity of viewpoints and experiences are being elevated during the policymaking process The nominees proposed by the President will do just that for the Fed Additionally these appointments will help ensure that credit flows to small businesses and individual Americans in a way that is equitable and sustainable As I discussed above we need financial regulations which help facilitate orderly credit markets and that is something that is difficult to implement with unfilled seats The last thing we want to see during the recovery is large amounts of volatility in financial markets—particularly credit markets The President’s nominees are equipped to help guide our recovery and advance the Fed’s mandate of lowering inflation stabilizing prices and creating a strong job market with better jobs and higher wages for workers While the Fed has an extremely tough job balancing a still recovering labor market against what have been elevated inflation prints the experience of the President’s nominees will allow the Board to continue to thoughtfully deliberate how to best handle this trade off Rhett Buttle Is there anything else you would like to add Heather Boushey I am looking forward to seeing these five very qualified nominees approved by the Senate in a timely fashion

Mortgage rates climbed in the latest week according to government backed housing finance agency Freddie Mac In the week ending Thursday the average rate on a 30 year fixed rate mortgage increased to 392 from 369 last week A year ago this week the average rate was 281 Average 15 year rates were 315 up from 293 a week ago and 221 a year ago The average rate on a five year Treasury indexed hybrid adjustable rate mortgage or ARM was 298 up from 28 a week ago and from 277 in the same period last year Mortgage rates jumped again due to high inflation and stronger than expected consumer spending Freddie Mac Chief Economist Sam Khater said The 30 year fixed rate mortgage is nearing 4 reaching highs we have not seen since May 2019 As rates and house prices rise affordability has become a substantial hurdle for potential homebuyers especially as inflation threatens to place a strain on consumer budgets he said Expectations that the Federal Reserve will raise interest rates multiple times this year have also been driving increases in mortgage rates which are closely tied to the 10 year US Treasury Write to Will Feuer at WillFeuerwsjcom

Columbia Care Inc OTCQXCCHWF NEOCCHW CSECCHW FSE3LP FY 2022 revenue was 5116 million an increase of 11 compared to 4601 million in FY 2021 Q4 Financial Highlights Revenue was 1262 million compared to 1393 million in Q4 2021 Gross profit was 416 million compared to 573 million in Q4 2021 Net loss was 301 million compared to 547 million in Q4 2021 Adjusted EBITDA was 174 million compared to 206 million in Q4 2021 FY 2022 Financial Highlights Record gross profit of 2012 million an increase of 4 YoY Net loss was 4215 million compared to net loss of 1469 million in FY 2021 Record adjusted EBITDA of 674 million an increase of 17 YoY Adjusted EBITDA margin of 13 an increase of 60bps YoY “Columbia Care achieved record financial results again in 2022 as we continued to build scale and optimize our portfolio of assets within our strategically diverse retail footprint Despite cyclicality in the fourth quarter coinciding with ongoing macroeconomic headwinds that impacted both the consumer and in particular wholesale market pricing topline revenue grew to more than 511 million up 11 over 2021 and we improved our adjusted EBITDA margin by 60 basis points during that same time period Our strategic position in the fastest growing markets in the country continues to drive revenue and earnings growth as we see an increasing contribution from markets such as New Jersey and Virginia” stated Nicholas Vita CEO of Columbia Care Senior Security Notes Maturity Extension The company has provided notice to extend the maturity of its 13 senior secured notes the “2023 notes” in the amount of 382 million originally due on May 14 2023 by twelve months The 2023 notes were issued pursuant to the trust indenture dated May 14 2020 between the company and Odyssey Trust Company as trustee as amended and supplemented and were originally scheduled to become due and payable together with all accrued and unpaid interest thereon on May 14 2023 Under the terms of the indenture the company had the discretion to extend the 2023 note maturity date to May 14 2024 Other than the change in maturity date all other terms of the indenture remain in place including the company’s right to redeem the 2023 notes and the company’s obligation to make an offer to repurchase all or any part of the 2023 notes upon a change of control Benzinga s Cannabis Capital Conference Is Back The most successful cannabis business event in the world the Benzinga Cannabis Capital Conference returns to Miami for its 16th edition This is the place where DEALS GET DONE where money is raised MA starts and companies meet investors and key partners Join us at the Fontainebleau Miami Beach Hotel in Florida on April 11 12 Don’t miss out Secure your tickets now Prices will surge very soon Photo Benzinga edit with photo by Kindel Media on Pexels

March 29 Reuters Most major Gulf markets extended gains on Wednesday mirroring a rise in global peers after sentiment was lifted by receding fears of a global banking crisis and rising oil prices Oil prices a key catalyst for gulf s financial markets rose for a third session on Wednesday as a halt to some exports from Iraqi Kurdistan raised concerns of tightening supply and as reduced banking worries aided sentiment Brent crude climbed 42 cents or 05 to 7907 a barrel by 0802 GMT Saudi Arabia s benchmark stock index TASI edged up 01 after trading flat in its two previous sessions as the index was supported by gains in most sectors led by healthcare and financials Dr Sulaiman Al Habib Medical Services 4013SE added 23 and Al Rajhi Bank rose 04 Among other stocks grocery retailer Bindawood Holding Company 4161SE was up 37 after reporting a surge in its fourth quarter net profit to 649 million riyals 1728 million compared with a net profit of 132 million riyals 352 million a year earlier Dubai s main share index DFMGI was up 07 in its second positive day in a row supported by financial and real estate stocks Emirates NBD Bank ENBDDU Dubai s largest lender gained 08 and blue chip developer Emaar Properties EMARDU inched up 05 In Abu Dhabi the benchmark index FTFADGI rose 03 boosted by a 12 climb in UAE s largest lender First Abu Dhabi Bank FABAD and 07 lift in Abu Dhabi Ports ADPORTSAD Celularity CELUO on Tuesday announced an agreement with logistics firm AD PORTS for exclusive product distribution in various territories in GCC and Egypt Separately Reuters on Tuesday reported through sources that Uber Technologies Middle East subsidiary Careem is in advanced talks with Emirates Telecommunications Group EANDAD to invest in its expansion into services beyond ride hailing The benchmark stock index QSI in Qatar advanced 05 in its second day of gains on boost from financial and industrial stocks Sharia compliant lender Masraf Al Rayan continued its surge for a third day to open nearly up 6 while chemical makers Industries QatarIQCDQA jumped more than 3 Reporting by Shamsuddin Mohd in Bengaluru editing by Uttaresh Venkateshwaran

The Nasdaq gained around 100 points on Tuesday Investors meanwhile focused on some notable insider trades When insiders sell shares it indicates their concern in the company’s prospects or that they view the stock as being overpriced Either way this signals an opportunity to go short on the stock Insider sales should not be taken as the only indicator for making an investment or trading decision At best it can lend conviction to a selling decision Below is a look at a few recent notable insider sales For more check out Benzinga s insider transactions platform Jabil The Trade Jabil Inc NYSEJBL EVP CEO Regulated Industries Steven Borges sold a total of 20758 shares at an average price of 6184 The insider received around 128 million from selling those shares What’s Happening Jabil last month reported fourth quarter FY22 revenue growth of 219 year on year to 903 billion What Jabil Does Jabil Inc is a United States based company engaged in providing manufacturing services and solutions US Stock Futures Mixed Ahead Of Fed s Beige Book Tesla Earnings In Focus Cigna The Trade Cigna Corporation NYSECI President CEO Evernorth Eric Palmer sold a total of 4000 shares at an average price of 300 The insider received around 12 million as a result of the transaction What’s Happening Cigna in August reported better than expected Q2 adjusted EPS and sales results What Cigna Does Cigna primarily provides pharmacy benefit management and health insurance services Have a look at our premarket coverage here JPMorgan Chase The Trade JPMorgan Chase Co NYSEJPM CEO Asset Wealth Management Mary Erdoes sold a total of 33515 shares at an average price of 11577 The insider received around 388 million from selling those shares What’s Happening JPMorgan recently reported better than expected Q3 EPS results What JPMorgan Chase Does JPMorgan Chase is one of the largest and most complex financial institutions in the United States with nearly 4 trillion in assets

US stocks tumbled on Monday amid concerns that protests in China might hobble global growth while investors awaited a deluge of critical economic data and commentary from Federal Reserve Chairman Jerome Powell due out later in the week US stocks notched a weekly gain last week for the second time in three weeks Dow rose 18 while the SP 500 advanced 15 and the Nasdaq gained 07 Wall Street is in line to start the week in a downbeat mood as traders absorb the impact of unrest in China Hong Kong s Hang Seng Index closed off 16 as equity indexes across Asia traded lower Worries about unrest in China spilled over into commodity markets as well with West Texas Intermediate crude for January delivery falling more than 3 at one point to less than 74 per barrel erasing all of the US benchmark s year to date gains Meanwhile copper prices were off 08 to 3597 per pound Unprecedented waves of protest in China have caused ripples of unease across financial markets as worries mount about repercussions for the world s second largest economy said Susannah Streeter senior investment and markets analyst at Hargreaves Lansdown As demonstrations spread across the country from Beijing to Xinjiang and Shanghai reflecting rising anger about the zero Covid policy a sustained recovery in demand across the vast country appears even further away Streeter added Signs that economic activity in China will continue to be disrupted by the protests or by more anti COVID 19 measures will likely continue to weigh on commodity prices analysts said China is a rapacious consumer of global commodities and signs economic activity is being disrupted by the mounting dissent in the country will be seen as negative for demand It s worth noting that unrest is already affecting business in China including Apple which has seen violent clashes at one of its facilities in Zhengzhou sais Russ Mould investment director at AJ Bell Concerns about global growth were helping to support government bond markets with the yield on the 2 year Treasury note falling 25 basis points to 4451 Meanwhile earlier in the day the yield on the 10 year note traded at its lowest level since early October But the news wasn t all bad reports about strong holiday season online sales from Black Friday helped boost the VanEck Retail ETFRTH which was up 05 at 17104 as shares of Amazoncom IncAMZNwere up more than 2 US shoppers spent more than 9 billion in online sales on Friday and Cyber Monday is also expected to be a record breaking one with more than 11 billion to be spent said Ipek Ozkardeskaya senior analyst at Swissquote Bank This is not exactly what you expect to hear when you think that the US will enter a consumer led recession in couple of weeks from now she added Investors can expect more information about the health of the US economy in what s shaping up to be a busy week for US economic data later this week investors will receive the ADP employment report followed by the November jobs report Revised data on third quarter gross domestic product are also due out along with the Fed s Beige Book of testimonies about the state of the economy Finally a closely watched gauge of inflation is also due Federal Reserve Chairman Jerome Powell is also due to speak publicly on Wednesday

Greece sold 15 billion euros 160 billion in the syndicated tap of the 200 April 2027 dated government bond on Wednesday one of the joint bookrunner banks said The spread on the bond was set 110 basis points above mid swaps the same bank said adding that orderbooks closed over EUR48 billion including EUR325 million of joint lead manager interest The size of the final orderbooks is somewhat smaller than the one bookrunner banks indicated before the book closing

Carriage Services IncNYSECSV shares surged after its Board of Directors initiated a process toexplore potential strategic alternatives The options include sale merger or other potential strategic or financial transactions to maximize shareholder value The move comes a week after the company appointedCarlos R Quezada as its Chief Executive Officer In May the company reported a first quarter FY23 revenue of 982 milliona 28 increase YY In December last year the company announced the High Performance and Credit Profile Restoration Plan to maximize Free Cash Flow for rapid paydown of credit facility borrowings over 2023 and 2024 and to reduce outstanding borrowings by the end of 2024 Carriage provides funeral and cemetery services and merchandise in the US and operates 170 funeral homes in 26 states and 30 cemeteries in 11 states Price Action CSV shares are trading higher by 239 at 3474 on the last check Thursday

The bad news is with inflation seemingly a lot stickier than everyone expected the Fed is going to need to keep lifting interest rates And that rate hike campaign may very well drag the economy into a recession The good news is recession is what sparks innovation According to Morgan Stanley roughly half of Fortune 500 companies were founded in times of recession or economic crisis “Necessity is the mother of invention This is why warfare and space exploration have routinely spawned radical new technologies which over time have become almost mundane in consumer mass market” says the US investment bank Here’s their compilation of companies created during periods of economic stress

Someone with a lot of money to spend has taken a bearish stance on Snowflake SNOW And retail traders should know We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga Whether this is an institution or just a wealthy individual we don t know But when something this big happens with SNOW it often means somebody knows something is about to happen So how do we know what this whale just did The overall sentiment of these big money traders is split between 43 bullish and 56 bearish Out of all of the special options we uncovered 26 are puts for a total amount of 1736837 and 22 are calls for a total amount of 846693 Taking into account the Volume and Open Interest on these contracts it appears that whales have been targeting a price range from 1000 to 2300 for Snowflake over the last 3 months Looking at the volume and open interest is an insightful way to conduct due diligence on a stock This data can help you track the liquidity and interest for Snowflake s options for a given strike price Below we can observe the evolution of the volume and open interest of calls and puts respectively for all of Snowflake s whale activity within a strike price range from 1000 to 2300 in the last 30 days Snowflake Option Volume And Open Interest Over Last 30 Days Where Is Snowflake Standing Right Now With a volume of 6841369 the price of SNOW is down 301 at 15376 RSI indicators hint that the underlying stock may be approaching oversold Next earnings are expected to be released in 48 days Options are a riskier asset compared to just trading the stock but they have higher profit potential Serious options traders manage this risk by educating themselves daily scaling in and out of trades following more than one indicator and following the markets closely If you want to stay updated on the latest options trades for Snowflake Benzinga Pro gives you real time options trades alerts

Someone with a lot of money to spend has taken a bearish stance on Boeing NYSEBA And retail traders should know We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga Whether this is an institution or just a wealthy individual we don t know But when something this big happens with BA it often means somebody knows something is about to happen So how do we know what this whale just did Today Benzinga s options scanner spotted 44 uncommon options trades for Boeing This isn t normal The overall sentiment of these big money traders is split between 36 bullish and 63 bearish Out of all of the special options we uncovered 17 are puts for a total amount of 856806 and 27 are calls for a total amount of 1080459 What s The Price Target Taking into account the Volume and Open Interest on these contracts it appears that whales have been targeting a price range from 1000 to 2500 for Boeing over the last 3 months Volume Open Interest Development Looking at the volume and open interest is a powerful move while trading options This data can help you track the liquidity and interest for Boeing s options for a given strike price Below we can observe the evolution of the volume and open interest of calls and puts respectively for all of Boeing s whale trades within a strike price range from 1000 to 2500 in the last 30 days Boeing Option Volume And Open Interest Over Last 30 Days Biggest Options Spotted Symbol PUTCALL Trade Type Sentiment Exp Date Strike Price Total Trade Price Open Interest Volume BA PUT SWEEP BULLISH 011924 20000 2107K 49K 5 BA CALL TRADE BEARISH 012023 10000 1054K 15K 10 BA PUT TRADE BEARISH 011725 23000 808K 655 18 BA PUT TRADE BULLISH 011725 25000 624K 30 173 BA PUT SWEEP NEUTRAL 011323 21000 560K 913 822 Where Is Boeing Standing Right Now With a volume of 2708372 the price of BA is down 122 at 20602 RSI indicators hint that the underlying stock may be approaching overbought Next earnings are expected to be released in 15 days What The Experts Say On Boeing Susquehanna has decided to maintain their Positive rating on Boeing which currently sits at a price target of 217 Morgan Stanley downgraded its action to Equal Weight with a price target of 220 JP Morgan has decided to maintain their Overweight rating on Boeing which currently sits at a price target of 200 Options are a riskier asset compared to just trading the stock but they have higher profit potential Serious options traders manage this risk by educating themselves daily scaling in and out of trades following more than one indicator and following the markets closely If you want to stay updated on the latest options trades for Boeing Benzinga Pro gives you real time options trades alerts

Even as the worst of the pandemic fades into the distance e commerce has continued to grow and thrive In today’s fast paced world as people’s lives become busier and technology accelerates consumers often seek new and more convenient ways to meet their everyday needs One of the main reasons for the popularity of e commerce is its simple and user friendly approach to everyday tasks It usually just takes just the tap of an app for consumers to do their weekly grocery shopping buy new shoes or order medicines No traveling to malls braving traffic wading through crowds or waiting in long lines consumers can shop from the comfort of their homes in their pajamas Take Instacart for example It owes its success to a simple model of delivering grocery products to customers’ doorsteps via a shopper or delivery contractor within a couple of hours of placing an order The company does not maintain inventory or stockpile groceries in a warehouse Instead it partners with multiple registered local grocers and chain stores Instacart personal shoppers or delivery contractors collect the items ordered from the nearest stores and make the delivery to the buyer at the desired location within a few hours Among the new entrants into the on demand services sector is mobile fuel delivery a quickly expanding domain that is reportedly disrupting the traditional fuel business scene through its easy and convenient business model Gas is now increasingly being delivered into the fuel tanks of cars while their owners work or spend time at home It has become a trend in Silicon Valley where technology companies including PayPal Holdings Inc PYPL Cisco Systems Inc CSCO Meta Platforms Inc META and others offer convenient fuel fill ups to their employees as a perk Large gas companies including Shell plc SHEL Exxon Mobil Corp XOM and General Motors Co GM have hopped on to the bandwagon and invested in the on demand fueling industry in recent years And on demand fuel delivery apps seem to be a hotbed of opportunities for both investors and startup app development companies at the moment According to Future Market Insights the on demand fuel delivery market is expected to reach 48 billion in 2022 and grow to 93 billion by 2032 recording a compound annual growth rate CAGR of 68 during 2022 to 2032 Mobile fuel companies across the globe including Yoshi Booster Fuels MyPetrolPump 51Autogo and Zebra Fuel have reported seeing a significant uptick in their businesses following the opening up of markets in recent months post the pandemic EzFill Holdings Inc EZFL a Miami based on demand fuel company has been making its presence felt in Florida positioning itself as an emerging market leader in the on demand fuel space EzFill offers services to both individuals and businesses and states that it is the only company that provides fuel delivery in three vertical segments consumer commercial and specialty vehicles The company adopts a simple model of delivery bringing gas straight to customers’ vehicles or a business fleet through the EzFill App All it takes is for you to download the app create a user profile place an order for a fuel fill and leave the gas door ajar EzFill technicians will arrive at the location and fill your vehicle with the amount requested The process works with consumer fleet and specialty vehicles like boats and all terrain vehicles EzFill claims that compared to competitors it offers a much more diverse product selection range Recently the company expanded its fleet in Miami through partnerships with 1 800 GOT JUNK SERVPRO® and ride hailing service Alto The company has set its sights on the bustling cities of New York Atlanta Austin Nashville Baltimore Long Island and many more where it aims to launch its services within the next two years To know more about EzFill visit the company website here This post contains sponsored advertising content This content is for informational purposes only and is not intended to be investing advice

Canada’s economy geared down as expected in the first quarter reinforcing the central bank’s decision to stop raising interest rates Preliminary data suggest gross domestic product contracted 01 in March led by decreases in retail wholesale and mining sectors Statistics Canada reported Friday in Ottawa That followed a 01 expansion in the previous month slightly weaker than expectations for 02 growth in a Bloomberg survey Overall the monthly gains point to annualized growth of 25 in the first quarter according to an initial estimate from the statistics agency Though it will likely be revised that’s roughly in line with the 23 pace projected by the Bank of Canada earlier this month Bonds rallied pushing the yield on Canada’s two year benchmark bond down to 3684 as of 844 am Ottawa time The numbers will give Governor Tiff Macklem and his officials some confidence as they look for evidence that monetary policy is sufficiently restrictive to bring inflation back to the central bank’s 2 target at the end of 2024 Signs of cooling growth employment and underlying price pressures will keep them on the sidelines During their deliberations ahead of the April 12 decision to hold the benchmark overnight rate at 45 policymakers considered raising borrowing costs higher citing stronger than expected growth and still elevated core inflation But they opted to stand pat expecting that pressures on the labor market and consumer prices will ease in the months ahead “The shaky March data will reinforce the Bank of Canada’s decision to hold rates steady at its last policy announcement” Royce Mendes head of macro strategy at Desjardins Securities said in a report to investors “That said it’s not yet enough to move central bankers to completely close the door to future rate increases” In February the public sector expanded 02 up for the thirteenth straight month The construction industry grew 03 while wholesale retail and manufacturing declined by 13 05 and 01 respectively

EthereumCRYPTO ETH creatorVitalik Buterinhas once again taken a dig at NFT projectBored Ape Yacht ClubBAYC and its community of followers What HappenedSpeaking at theBlockchain Futurist Conferencein Toronto Buterin commented on how the current use cases for private keys on a blockchain had seemingly deviated from their intended purpose Buterin said that the 1990s spurred an idealistic effort for people to have their own cryptographic keys for privacy and security without relying on centralized intermediaries However the network effects hadn’t really panned out “Fast forward to today we have millions of people with crypto wallets and we have millions of people with private keys inside their own browsers… because they want to trade monkey pictures” The Bored Ape NFT collection is one of the highest valued in the space today Celebrities likeJustin Bieber EminemSnoop Dogg andMaddona are spending millionsto acquire their own piece Still Buterin isn’t convinced by the projects underlying utility and the role of Bored Apes in the overall crypto movement something hefirst made known in an interview with Time Magazine earlier this year “The problem with crypto space is that it has great incentives but at the same time it has incentives to go into very weird directions sometimes” he said See AlsoEthereum Hits 1900 As Final Merge Testnet Goes Live Price Action As per data fromBenzinga Pro ETH surged to a two month high of 1927 on Thursday At press time the crypto asset was trading at 1867 up 072 over 24 hours ApeCoinCRYPTO APE the native token of the Bored Ape ecosystem was trading at 693 down 298 over the same periodPhoto Courtesy ofTechCrunchon flickr

A weakening stock market is not going to be saved by a strong dollar this time Yes Europe and Japan and the UK have low yield and a much more dire economic outlook for the time being but it is unlikely that asset managers there will be throwing money into the US stock market for much longer There is no near term bottom yet “What’s the pain point for the Fed here We are at 3659 in the SP 500 and we think it could go to 2800 though I don’t want to be too dour” says Vladimir Signorelli head of Bretton Woods Research a macro investment themed research firm “Another 20 fall is certainly in the realm” he says With currencies weaker in the other core economies it becomes more costly for these foreign asset managers to buy dollars Still where else are they going to get 4 on a one year T bill Parking money in Treasurys will still be seen by them as a safe investment But that won’t really help the stock market unless there is a pivot from Jerome Powell at the Fed Equities hate rising interest rates The consensus in the Beltway now is that recession is the best way to fight inflation and that is what America is getting The strong dollar—or more precisely a rapidly fluctuating dollar—is a growing economic threat WSJ editorial writers said on Thursday “For now it may help the Fed tamp down inflation by reducing the dollar prices Americans pay for imports especially energy But American companies will soon find the dollar values of their foreign profits shrinking Meanwhile weak currencies exacerbate inflation in America’s most important trading partners” the WSJ Editorial Board wrote “If you think the eurozone’s energy crisis is bad now see what happens the longer they need to import energy with a euro worth 99 cents” The US is in better shape than Europe But the Atlanta Fed GDP tracker has cut its third quarter GDP forecast to just 03 down from an earlier forecast of 2 mid summer The economy is getting weaker The strong dollar has done nothing for the US economy “The rampaging dollar is a negative for global risk assets including those in the US” says Brian McCarthy head of Macrolens “It puts tremendous pressure on dollar debtors around the world particularly those in emerging markets The Fed is on a path that leads eventually to a credit crisis It’s taking a while because we’ve come out of the pandemic at very high levels of nominal growth But the interest rate path they laid out at Wednesday’s meeting is a surefire recipe for global financial stress” he says His Friday note to clients says it all “The Coming Crash” Interest rate hikes from the Fed are making the dollar “a wrecking ball” says Brendan Ahern CIO of KraneShares Higher US interest rates mean countries like Japan and those in Europe are enticed to buy US bonds which surely pay more than the barely 15 one gets in Europe This pulls money out of global equities and into Treasuries or cash Over the last three months emerging market investments have lost more than 10 billion in redemptions Europe focused funds are way worse They have lost nearly 40 billion Meanwhile US equity funds have seen 15 billion in inflows some of this due to inflows from Europe But how long can that last Nearly everyone on Wall Street is now betting on recession Last week Vanguard gave recession odds upwards of 60 “Equity sentiment is weak and already appears to be pricing an earnings slowdow” says Mark Haefele CIO of UBS Global Wealth Management “We remain invested but are selective Focus on defense income valueand security” Crude oil markets also pricing in a slower economy down 55 on Friday just before the close US automakers Ford GM and Tesla are all down over 45 on the expectation that soon to be laid off Americans won’t be buying the Ford Lightning EV anytime soon Even emerging markets are doing better than them The iShare MSCI Emerging Markets ETF is down just over 26 Meanwhile dollar futures are up 16 suggesting there is no end in sight to the dollar rally

Jan 28 Reuters Australia shares erased early gains to trade modestly higher on Friday pressured by gold stocks as investors scoured for battered stocks that entered correction territory in the previous session on the US Federal Reserve s hawkish stance The SPASX 200 index AXJO was up 03 at 685630 as at 2348 GMT after advancing as much as 19 earlier in the day The benchmark declined 18 on Thursday and is now more than 10 below its August 2021 high The index was on track to lose more than 7 in January its worst month since March 2020 The Fed said on Thursday it would likely raise interest rates in March and begin tapering bond purchase programme in the same month read more Investor focus is now at a meeting by the Reserve Bank of Australia due next week where the central bank is expected to end its bond buying programme but might wait until November to make its first interest rate hike in over a decade a Reuters poll showed read more Australian miners AXMM added as much as 2 on Friday as iron ore prices crept up on hopes of robust demand for the steel making ingredient in China Heavyweights BHP Group BHPAX Rio Tinto RIOAX and Fortescue Metals Group FMGAX gained more than 3 each Healthcare stocks AXHJ advanced as much as 21 to mark their biggest intraday jump in nearly six weeks Biotech giant CSL Ltd gained 3 However a 4 drop in local gold miners AXGD limited the gains in the benchmark as bullion slid more than 1 overnight after the greenback rallied on robust US economic data which would strengthen the case for faster rate hikes Newcrest Mining NCMAX slumped 41 to its lowest since late September as its quarterly gold output fell from year ago levels while the top Australian gold producer also flagged weather issues and Omicron led headwinds at its Lihir mine in Papua New Guinea New Zealand s benchmark SPNZX 50 index NZ50 was down 03 at 1200843 hovering near its lowest since Feb 26 last year Reporting by Sameer Manekar in Bengaluru Editing by Sherry Jacob Phillips

Delta 9 Cannabis DN DLTNF announced financial and operating results for the three month period ending March 31 2022 revealing net revenue of 125 million versus 132 million for the three month period ending March 31 2021 Gross profit before changes in the fair value of biological assets of 30 million versus 37 million for the three month period ending March 31 2021 Net loss from operations of 29 million versus 32 million for the three month period ending March 31 2021 Adjusted EBITDA loss was 17 million versus Adjusted EBITDA of 6199 for the three month period ending March 31 2021 The company reported loss per share of 004 for the three month period ending March 31 2022 Cash position of 115 million working capital of 15 million and total assets of 1069 million Delta 9 recorded a transformative first quarter of 2022 closing on our 17 store acquisition of Uncle Sam’s Cannabis as well as a 42 million balance sheet re structuring through a 10 million strategic investment and 32 million credit facility” stated John Arbuthnot CEO of Delta 9 “In the first quarter of 2022 we saw a degree of seasonality and industry headwinds relating to supply chain issues and overall weakness in the Canadian cannabis market affecting our business and impacting sequential revenue growth however we remain bullish that the remainder of 2022 looks to be a promising year for Delta 9” Delta 9 Cannabis announced closing of transformative retail acquisition acquiring 17 cannabis retail stores in Edmonton Alberta from Uncle Sam’s Cannabis Ltd Delta 9 now has 35 operating retail stores and is a leading retailer of cannabis products in Canada The Company expects the Uncle Sam’s Transaction to be accretive in 2022 and 2023 before synergies The acquisition represents an attractive revenue multiple of approximately 068x annualized revenue The company completed a strategic financing of 10 million with Sundial Growers Inc by way of a convertible debenture that matures on March 30 2025 and bears an interest rate of 10 per annum The Sundial Debenture is convertible into common shares at a conversion price of 035 per common share Delta 9 announced closing of a 32 million credit facility with connect First Credit Union The credit facility consists of a 23 million commercial mortgage a 5 million MA facility and a 4 million working capital line of credit The term of the facility is for 5 years and amortized over a 12 year period The funds will be used to pay down 112 million in existing debt and 118 million for the Company’s existing 118 million convertible debenture due July 2022 To our knowledge the new 455 fixed interest rate we are paying is among the most competitive rates established by any public cannabis company to date Delta 9 Claims To Be Launching Canada s First Mobile Cannabis Store Opening 35th Cannabis Retail Store Delta 9 Fire Flower Enter Into Separate Agreements With Manitoba To Become Cannabis Distributors

Someone with a lot of money to spend has taken a bearish stance on Tilray NASDAQTLRY And retail traders should know We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga Whether this is an institution or just a wealthy individual we don t know But when something this big happens with TLRY it often means somebody knows something is about to happen So how do we know what this whale just did The overall sentiment of these big money traders is split between 20 bullish and 80 bearish Out of all of the special options we uncovered 5 are puts for a total amount of 325379 and 5 are calls for a total amount of 172000 Taking into account the Volume and Open Interest on these contracts it appears that whales have been targeting a price range from 40 to 600 for Tilray over the last 3 months Looking at the volume and open interest is a powerful move while trading options This data can help you track the liquidity and interest for Tilray s options for a given strike price Below we can observe the evolution of the volume and open interest of calls and puts respectively for all of Tilray s whale trades within a strike price range from 40 to 600 in the last 30 days Tilray Option Volume And Open Interest Over Last 30 Days Where Is Tilray Standing Right Now With a volume of 22015897 the price of TLRY is down 106 at 656 RSI indicators hint that the underlying stock may be oversold Next earnings are expected to be released in 4 days Options are a riskier asset compared to just trading the stock but they have higher profit potential Serious options traders manage this risk by educating themselves daily scaling in and out of trades following more than one indicator and following the markets closely If you are already an options trader or would like to get started head on over to Benzinga Pro Benzinga Pro gives you up to date news and analytics to empower your investing and trading strategy

Shares of Walker Dunlop Inc NYSEWD increased by 347 in the past three months When understanding a companies price change over a time period like 3 months it could be helpful to look at its financials One key aspect of a companies financials is its debt but before we understand the importance of debt let s look at how much debt Walker Dunlop has Walker Dunlop Debt According to the Walker Dunlop s most recent financial statement as reported on February 23 2023 total debt is at 125 billion with 54345 million in long term debt and 70410 million in current debt Adjusting for 22595 million in cash equivalents the company has a net debt of 102 billion Let s define some of the terms we used in the paragraph above Current debt is the portion of a company s debt which is due within 1 year while long term debt is the portion due in more than 1 year Cash equivalents includes cash and any liquid securities with maturity periods of 90 days or less Total debt equals current debt plus long term debt minus cash equivalents Shareholders look at the debt ratio to understand how much financial leverage a company has Walker Dunlop has 405 billion in total assets therefore making the debt ratio 031 Generally speaking a debt ratio more than 1 means that a large portion of debt is funded by assets As the debt ratio increases so the does the risk of defaulting on loans if interest rates were to increase Different industries have different thresholds of tolerance for debt ratios A debt ratio of 25 might be higher for one industry but average for another Importance of Debt Besides equity debt is an important factor in the capital structure of a company and contributes to its growth Due to its lower financing cost compared to equity it becomes an attractive option for executives trying to raise capital However interest payment obligations can have an adverse impact on the cash flow of the company Equity owners can keep excess profit generated from the debt capital when companies use the debt capital for its business operations Looking for stocks with low debt to equity ratios Check out Benzinga Pro a market research platform which provides investors with near instantaneous access to dozens of stock metrics including debt to equity ratio Click here to learn more This article was generated by Benzinga s automated content engine and reviewed by an editor

Leading real estate investment platform Roofstock announced its 1st property sale via Ethereum’s blockchain enabled by Roofstock onChain ROC its web3 subsidiary Roofstock onChain is a real estate brokerage alternative powered by an NFT marketplace built by Origin Protocol While physical real estate has sold in crypto before this sale is the most crypto native real estate sale to date and it’s the 1st property sale that was instantly settled on an NFT marketplace Moreover the sale used Circle’s USDC stablecoin instead of volatile crypto assets––eliminating a key barrier for web3 adoption “Cutting out intermediary fees is one of the pillars of web3 and this is just the beginning As more and more real estate is brought on chain through NFTs we will see more efficient and liquid markets for these traditionally illiquid assets” said Matthew Liu co founder of Origin Protocol When most people hear the term NFT they think of crypto rich 20 something year olds with a monkey picture on their Twitter profile Roofstock and Origin Protocol extend the use case of non fungible tokens beyond what’s commonly seen eliminating the most prevalent pain points in real estate brokerage Located in Columbia South Carolina the property sold last Friday October 10th for 175000 Unlike traditional real estate brokerages ROC transactions are instantaneous and there is no escrow involved During the sale the homebuyer Adam Slipakoff saved weeks of closing time and the seller saved over 5000 in closing costs “I never imagined I could buy and finance a house with a simple click rather than going through the time consuming and cumbersome traditional settlement and mortgage process I’m grateful Roofstock paved the way for the rest of the market” said Adam Slipakoff a seasoned real estate investor “Instead of waiting months for underwriting appraisals title searches and preparing deeds I was able to buy a fully title insured rent ready property with one click Best of all I am no web3 expert – the Roofstock onChain platform made it simple and easy” Home ownership was transferred entirely through smart contracts utilizing the NFT marketplace built by Origin Protocol NFTs on the marketplace are associated with a limited liability company that holds the title to each respective home Moreover Roofstock onChain utilizes Ethereum’s blockchain past home brokerage In partnership with Teller Protocol Slipakoff was able to get financing for the property via a bespoke DeFi lending pool For Roofstock it is a major milestone to provide a radically simple way for single family rental SFR properties to be purchased and sold with one click using web3 technology” said Geoff Thompson Chief Blockchain Officer at Roofstock onChain “We’re excited to enable home buyers to have access to various web3 financing options ushering a new era of real world asset ownership through our partnership with Teller added Sanjay Raghavan Head of web3 Initiatives at Roofstock onChain Using Teller Protocol buyers can seek a loan for up to 80 loan to value of the sale price of the NFT with USDC Homes a DeFi lending pool maintained on the protocol Once approved for a loan the buyer used Wyre to transfer USD into USDC before proceeding with the purchase To purchase the home Teller Protocol’s USDC Homes uses the funds to purchase the LLC NFT transferring the NFT into a multisig wallet until the buyer pays back the entire loan amount and interest via Polygon’s network “The Roofstock team is innovating on the bleeding edge of real estate financing Roofstock onChain allows buyers to finance SFR properties efficiently without going through the traditional settlement process With Polygon s low gas fees and robust security we are delighted to be the bedrock of this next stage in DeFi” said Hamzah Khan Head of DeFi at Polygon Roofstock onChain is the web3 subsidiary of Roofstock the leading digital real estate investing platform for the 4 trillion single family rental home sector Using blockchain technology Roofstock onChain provides investors the ability to purchase tokenized single family rental properties with one click and to transact with crypto cutting the time and cost incurred by legacy systems Roofstock provides extensive resources for investors to actively participate in the SFR space including data analytics connections to property management companies and contractors and other management tools Founded in 2015 Roofstock has facilitated more than 5 billion in investment transactions to date To learn more or to get started with Roofstock onChain please visit onchainroofstockcom Founded in 2017 Origin Protocol is a web3 pioneer developing innovative products in the crypto industry’s fastest growing verticals of non fungible tokens NFTs and decentralized finance DeFi Origin’s NFT platform Origin Story the platform’s NFT product has powered NFT sales like 3LAU s 117M record breaking music sale the Charlie Bit My Finger viral video sale that generated global headlines Paris Hilton’s iconic “Past Lives New Beginnings” series drop and many more Origin has worked with top NFT creators like Trevor Jones and Alotta Money as well as brands like Rolling Stones and Inspiration4SpaceX in addition to developing branded marketplaces for beloved NFT collections including Pudgy Penguins and Karafuru Teller is a market participant driven DeFi “Decentralized Finance” protocol that enables unsecured digital asset lending and borrowing The Teller Protocol accomplishes this through an open order book model that allows participants to share commonly used off chain credit data with on chain loan requests Marketplaces and lending platforms can integrate the Teller Protocol to fill loan requests allowing lenders to decide what loans to fill based on the appended borrower data The Teller Protocol widens the scope of potential market participants in digital asset lending fostering acceleration of DeFi adoption ultimately facilitating the development of a new class of cryptocurrency loan products tied to both off chain and on chain credit signals Wyre is the leading payment infrastructure company built for the crypto ecosystem Focusing on developers the company provides easy to integrate APIs which enable thousands of developers to bring crypto to the masses The company has on ramped over 15 million end users to their partners and has processed over 10B in payments since inception Checkout Wyre s flagship product is the world s fastest fiat to crypto gateway and has helped hundreds of crypto applications better reach their customers Wyre has been an active player in the crypto space since 2013 supporting customers in over 100 countries worldwide and empowering them with seamless access to blockchain technology For more information please visit wwwsendwyrecom Polygon is the leading blockchain development platform offering scalable affordable secure and sustainable blockchains for Web3 Its growing suite of products offers developers easy access to major scaling solutions including L2 ZK Rollups and Optimistic Rollups sidechains hybrid stand alone and enterprise chains and data availability Polygon’s scaling solutions have seen widespread adoption with 53000 decentralized applications hosted 21B total transactions processed 1749M unique user addresses and 5B in assets secured The network is home for some of the biggest Web3 projects such as Aave Uniswap OpenSea and well known enterprises including Meta Stripe and Adobe Polygon is carbon neutral with the goal of leading the Web3 ecosystem in becoming carbon negative If you re an Ethereum Developer you re already a Polygon developer Leverage Polygon’s fast and secure txns for your dApp get started here

Shares of Intercontinental Exchange Inc ICE slumped 014 to 9897 Monday on what proved to be an all around positive trading session for the stock market with the SP 500 Index SPX rising 013 to 396684 and the Dow Jones Industrial Average DJIA rising 028 to 3199004 This was the stock s second consecutive day of losses Intercontinental Exchange Inc closed 4082 short of its 52 week high 13979 which the company reached on November 2nd The stock demonstrated a mixed performance when compared to some of its competitors Monday as CME Group Inc Cl A CME fell 001 to 20446 Nasdaq Inc NDAQ fell 035 to 17200 and Cboe Global Markets Inc CBOE rose 082 to 12475 Trading volume 17 M remained 14 million below its 50 day average volume of 31 M Editor s Note This story was auto generated by Automated Insights an automation technology provider using data from Dow Jones and FactSet See our market data terms of use

US stocks were lower Wednesday to start March after the release of weak economic data rising bond yields and remarks by several Federal Reserve officials reiterating the need for higher interest rates On Tuesday stocks closed lower adding to the Dow s 42 decline in February and roughly 13 decline for 2023 See Why March could make or break stock market sentiment with 2023 rally at crossroads Stocks were on pace for back to back losses on Wednesday afternoon following the release of weak economic data climbing bond yields and tough talk from Federal Reserve officials on the need for higher interest rates The earnings season is almost over and there s not a whole lot of economic data this week said Randy Frederick managing director of trading and derivatives at Schwab Center for Financial Research With the next Fed policy decision not for three weeks he said investors will be left to fixate on every word from US central bankers We know another rate hike isn t for three weeks Frederick said The market is in a vacuum until then and going to react to them a lot Minneapolis Federal Reserve President Neel Kashkari said Wednesday that he hasn t decided whether he will advocate for a 25 basis point or 50 basis point move at the central bank s next interest rate committee meeting later this month I m open minded at this point about whether its 25 basis points or 50 basis points Kashkari told business leaders in Sioux Falls South Dakota Atlanta Fed President Raphael Bostic said the central bank needs to keep raising its policy interest rate until the target range is between 5 and 525 The central bank s target rate range is now between 45 475 Economic data showed the Institute for Supply Management s manufacturing survey edged up to 477 from 474 in prior month but numbers below 50 signal the manufacturing sector is contracting The ISM report has been negative for the fourth month in a row as manufacturers cut back on production to cope with a slower US economy Meanwhile the final number for SP Global US Manufacturing PMI in February comes in at 473 compared with the preliminary number of 478 The data arrived after a tough February for stock markets when worries that stubborn inflation would encourage central banks to keep raising interest rates pushed the SP 500 down 26 and forced 2 year Treasury yields to their highest since 2008 I believed since the start of this year that we were likely to see a fair amount of volatility and some retracing of gains because there would be a lot of uncertainty around the Fed until it actually hits the pause button for raising interest rates and that s what we ve seen said Kristina Hooper chief global market strategist at Invesco Certainly January was a relatively good month but at the start of February we began getting data that made markets question the narrative they had bought into Hooper said in a call That narrative of course was that the Fed would very soon hit the pause button because the economy was slowing and inflation was continuing to moderate The 10 year US Treasury yield BXTMUBMUSD10Y was pegged at 4 Wednesday afternoon Movers Shakers Reata and Sarepta soar while Novavax and Marqeta sink

US stocks closed higher on Friday with the Dow Jones gaining more than 100 points during the session Wall Street analysts make new stock picks on a daily basis Unfortunately for investors not all analysts have particularly impressive track records at predicting market movements Even when it comes to one single stock analyst ratings and price targets can vary widely leaving investors confused about which analyst s opinion to trust Benzinga s Analyst Ratings API is a collection of the highest quality stock ratings curated by the Benzinga news desk via direct partnerships with major sell side banks Benzinga displays overnight ratings changes on a daily basis three hours prior to the US equity market opening Data specialists at investment dashboard provider Toggleai recently uncovered that the analyst insights Benzinga Pro subscribers and Benzinga readers regularly receive can successfully be used as trading indicators to outperform the stock market Top Analyst Picks Fortunately any Benzinga reader can access the latest analyst ratings on the Analyst Stock Ratings page One of the ways traders can sort through Benzinga s extensive database of analyst ratings is by analyst accuracy Here s a look at the most recent stock picks from each of the five most accurate Wall Street analysts according to Benzinga Analyst Stock Ratings Analyst Justin Jenkins Analyst Firm Raymond James Ratings Accuracy 88 Latest Rating Maintained a Strong Buy rating on Valero Energy Corporation NYSEVLO on Jan 13 2023 and raised the price target from 152 to 169 Jenkins sees around 24 increase in the company’s stock Analyst Spiro Dounis Analyst Firm Citigroup Ratings Accuracy 86 Latest Rating Maintained a Sell rating on Cheniere Energy Partners LP NYSECQP on Jan 9 2023 and cut the price target from 39 to 35 Dounis predicts around 23 downside in the stock Analyst Joseph Quatrochi Analyst Firm Wells Fargo Ratings Accuracy 86 Latest Rating Reiterated an Equal Weight rating for MKS Instruments Inc NASDAQMKSI on Jan 9 2023 and raised the price target from 80 to 90 This analyst expects around 11 drop in the company’s stock Read More Delta Air Lines American Tower Rocket Lab USA DR Horton And This Sector Are CNBC s Final Trades Analyst Craig Ellis Analyst Firm B Riley Securities Ratings Accuracy 84 Latest Rating Maintained a Buy rating for Axcelis Technologies Inc NASDAQACLS on Jan 12 2023 and boosted the price target from 95 to 115 Ellis sees the stock gaining more than 14 Analyst Mark Lear Analyst Firm Piper Sandler Ratings Accuracy 84 Latest Rating Maintained an Overweight rating on Marathon Oil Corporation NYSEMRO on Jan13 2023 and cut the price target from 42 to 40 This analyst sees around 47 surge in the stock

The Bank of England increased borrowing costs for the sixth time in a row on Thursday LONDON—The Bank of England raised its key interest rate by a half percentage point Thursday the largest single step in more than a quarter century as the central bank follows the Federal Reserve in giving priority to the fight against inflation over the risk of hurting growth In a statement the bank raised its key rate to 175 from 125 That means the bank has increased borrowing costs at six straight meetings of its monetary policy committee its longest such streak since the late 1990s

Shares of Cboe Global Markets Inc CBOE shed 017 to 11977 Wednesday on what proved to be an all around rough trading session for the stock market with the SP 500 Index SPX falling 020 to 378328 and Dow Jones Industrial Average DJIA falling 014 to 3027387 The stock s fall snapped a two day winning streak Cboe Global Markets Inc closed 1588 short of its 52 week high 13565 which the company achieved on November 4th Despite its losses the stock outperformed some of its competitors Wednesday as CME Group Inc Cl A CME fell 069 to 18087 Intercontinental Exchange Inc ICE fell 080 to 9341 and Nasdaq Inc NDAQ fell 030 to 5972true Trading volume 583535 remained 44644 below its 50 day average volume of 628179 Editor s Note This story was auto generated by Automated Insights an automation technology provider using data from Dow Jones and FactSet See our market data terms of use

Minneapolis Federal Reserve Bank President Neel Kashkari poses during an interview with Reuters in his office at the bank s headquarters in Minneapolis Minnesota US January 10 2020 REUTERS Ann Saphir Aug 10 Reuters Minneapolis Federal Reserve Bank President Neel Kashkari on Wednesday said that he continues to believe that the US central bank will need to raise its policy rate to 39 by year end and to 44 by the end of 2023 to fight inflation Though the cooling in price pressures evident in a government report released earlier Wednesday was welcome Kashkari said at the Aspen Ideas Conference that the Fed is far far away from declaring victory and needs to raise rates much higher than its current 225 25 range Markets are also not realistic in expecting rate cuts early next year he said The Fed won t do so until we get convinced that inflation is well on its way to the Fed s 2 target he said

European stocks and US stock futures slumped early on Thursday amid fears of a recession a day after Federal Reserve Chairman Jerome Powell told Congress the central bank will continue to hike interest rates to combat inflation and acknowledged that a downturn was a “possibility” The London Stock Exchange’s FTSE 100 slumped more than 07 after markets opened on Thursday morning while the Frankfurt Stock Exchange’s DAX index was down 127 The pan European Stoxx 600 Index was down more than 11 an hour after markets opened Stock markets in Asia appeared to be largely unperturbed however with Hong Kong’s Hang Seng index being up 126 while the Tokyo Stock Exchange’s Nikkei 225 was up 008 when markets closed on Thursday US stock futures were also down in premarket trading early on Thursday with the benchmark SP 500 index dropping 02 while the Dow Jones Index slid 036 Crude oil prices were also down with the global Brent Crude futures dropping more than 2 and falling below 110 per barrel In testimony before Congress on Wednesday Powell said the Federal Reserve is “strongly committed” to raising interest rates until the country’s high inflation numbers are normalized Powell also admitted that the central bank’s aggressive rate hikes meant that a recession is “certainly a possibility” Powell s statement before Congress came a week after the Federal Reserve hiked interest rates by 75 basis points—the steepest hike since 1994 The steeper than expected hike in rates triggered alarm bells among financial institutions who warned of an impending recession sometime in the next 12 to 18 months Powell however stated the central bank was “not trying to induce a recession” and was instead simply focused on bringing inflation down to a target rate of 2 down from its current 41 year high of 86 Powell Says Fed Will Continue Hiking Rates Until There Is ‘Compelling Evidence’ That Inflation Is Slowing Forbes

June 29 Reuters Portugal s monthly unemployment rate rose to 61 in May from a revised reading of 59 in the previous month the National Statistics Institute INE said in its flash estimate on Wednesday The labour underutilisation rate stood at 115 slightly up from 114 in April

Feb 17 Reuters Russia s central bank said on Friday that inflationary pressures across the economy had remained strong during the first two weeks of February citing a slump in the rouble as a factor Russia recorded inflation of 118 on an annual basis in January almost three times the central bank s official 4 target It signalled last week it was preparing to raise base interest rates to cool inflation Operational data for the first two weeks of February indicate the trend towards increased price pressures continues the bank said on Friday in a report Prices across Russia have been extremely volatile in the year since Russia invaded Ukraine with a period of rapid inflation following the imposition of Western sanctions followed by months of deflation as capital controls pushed the rouble higher But falling revenues from crucial oil and gas sales have again hit the Russian currency this year The rouble has fallen 16 since the start of December when a European Union embargo and G7 price cap on Russian crude sales came into force The exchange rate has already affected prices of the most import dependent products in January and if the rouble remains at its current level this will continue to have a pro inflationary effect in the coming months the bank s analysts said in the report Reporting by Jake Cordell Editing by Raissa Kasolowsky and John Stonestreet

Trump Media Technology Group issued a statement in response to a disclosure earlier Monday from blank check company Digital World Acquisition Corp that said a federal grand jury in the Southern District of New York has issued subpoenas to each member of its board Trump Media has said it plans to merge with Digital World and take its place on the public markets TMTG is focused on reclaiming the American people s right to free expression Every day our team works tirelessly to sustain Truth Social s rapid growth onboard new users and add new features the company said We encourage and will cooperate with oversight that supports the SEC s important mission of protecting retail investors Shares of Digital World slipped nearly 11 in premarket trading to 2489 The stock closed on Friday at 2782 nearly 46 lower so far this year Digital World previously disclosed that the US Securities and Exchange Commission had requested information regarding various matters including Digital World s due diligence of Trump Media and relationships among Digital World and other relevant entities On Monday Digital World said it learned of new subpoenas from the SNDY federal grand jury on June 16 The subpoenas request some of the same documents that were previously requested by the SEC Additionally the subpoenas seek certain documents related to Digital World s S 1 filings communications with or about multiple individuals and information regarding investment firm Rocket One Capital Also on Monday Digital World said Rocket One Chief Strategy Officer Bruce Garelick resigned from the Digital World board effective June 22 Write to Will Feuer at WillFeuerwsjcom

JPMorgan Chase Co said Monday that it will exclude Russian sovereign and corporate debt from all of its widely tracked fixed income indexes as Wall Street’s decoupling from the Russian economy deepened in the wake of economic sanctions tied to the invasion of Ukraine JPMorgan’s move effective March 31 will exclude Russia’s sovereign and corporate debt from some of the bank’s fixed income benchmarks including the Emerging Market Bond Index EMBI and the Corporate Emerging Market Bond Index CEMBI Along with Russia Belarus’s sovereign debt will also be excluded from the bank’s ESG linked indexes as of March 31 JPMorgan said

China cut its benchmark loan prime rate on Monday a move that will provide more support for the slowing economy after the central bank lowered two other key policy rates last week China s one year loan prime rate which is offered to banks best clients was lowered to 365 from 37 while the five year LPR was cut to 43 from 445 the People s Bank of China said in a monthly release Beijing last lowered its one year LPR in January and last cut its five year LPR rate which is used to price longer term loans such as mortgages in May The LPR reductions were widely expected after the PBOC last week surprised the market by slashing borrowing rates on its medium term lending facility by 10 basis points The PBOC determines its benchmark LPR using interest rates offered by 18 Chinese commercial banks to their best customers rates that are themselves based on prevailing rates offered through the medium term lending facility The central bank s moves come in response to weaker than expected readings of economic activity and new credit in July Across the board economic indicators on consumption industrial production youth unemployment and investment have slowed more sharply than expected as the country s post lockdown recovery sputtered

International stocks trading in New York closed mostly higher on Monday The SPBNY Mellon index of American depositary receipts gained 06 to 15795 The European index ticked up 02 to 14579 The Asian index rose 14 to 19863 The Latin American index edged down 01 to 19253 while the emerging markets index bumped up 13 to 33015 VNET Group Inc was among those whose ADRs traded actively The internet data center services provider was up nearly 17 extending its gain from last Friday that came after the company said funds managed by Blackstone Tactical Opportunities agreed to make an investment of 250 million with the purchase of convertible notes Alibaba Group Holding Ltd was up 92 despite its price target being cut to 180 per share from 215 per share from Mizuho on Monday

MusicMagpie PLC said Thursday that revenue and adjusted Ebitda fell for its first half of fiscal 2022 amid a challenging economic environment The online retailer which specializes in buying and selling consumer technology said that adjusted earnings before interest taxes depreciation and amortization which strips out exceptional and other one off items was 26 million pounds 32 million compared with GBP62 million a year earlier Revenue for the six months ended May 31 was GBP713 million compared with GBP728 million after economic headwinds hit the consumer sector The company said the promotion of its contracted monthly rental subscription service ahead of outright purchase has affected sales but is expected to earn higher revenue and Ebitda over the life of a device as opposed to a one off sale Active paying subscribers are now around 24000 compared with around 7500 at May 31 2021 The board is confident in full year expectations with a much stronger second half profit seen from increased contribution of rental subscribers and continued anticipated sales revenue growth from the expansion of marketplace sales channels

Special purpose acquisition company Equity Distribution Acquisition Corp said it will redeem all outstanding Class A common stock shares as the company plans to dissolve and liquidate The company said it didn t find an opportunity for an initial business combination within the period required by its certificate of incorporation Equity Distribution said it will redeem the shares issued as parts of the units sold during its initial public offering effective the close of business on Sept 19 Net of taxes the company said it currently expects the per share redemption price for the public shares will be about 1001 The company originally filed for an IPO in August 2020 At the time it said it intended to focus its search for an initial business combination on companies providing technology enabled solutions in industrial and industrial distribution markets

A whale with a lot of money to spend has taken a noticeably bullish stance on BioNTech Looking at options history for BioNTech NASDAQBNTX we detected 10 strange trades If we consider the specifics of each trade it is accurate to state that 70 of the investors opened trades with bullish expectations and 30 with bearish From the overall spotted trades 4 are puts for a total amount of 562300 and 6 calls for a total amount of 219620 What s The Price Target Taking into account the Volume and Open Interest on these contracts it appears that whales have been targeting a price range from 1000 to 2500 for BioNTech over the last 3 months Volume Open Interest Development Looking at the volume and open interest is an insightful way to conduct due diligence on a stock This data can help you track the liquidity and interest for BioNTech s options for a given strike price Below we can observe the evolution of the volume and open interest of calls and puts respectively for all of BioNTech s whale activity within a strike price range from 1000 to 2500 in the last 30 days BioNTech Option Volume And Open Interest Over Last 30 Days Biggest Options Spotted Symbol PUTCALL Trade Type Sentiment Exp Date Strike Price Total Trade Price Open Interest Volume BNTX PUT TRADE BEARISH 091622 25000 3620K 0 40 BNTX PUT TRADE BULLISH 011924 10000 700K 11 100 BNTX PUT TRADE BEARISH 011924 10000 700K 11 50 BNTX PUT TRADE BULLISH 091622 15500 603K 131 75 BNTX CALL TRADE BEARISH 081922 16000 580K 111 112 Where Is BioNTech Standing Right Now With a volume of 986648 the price of BNTX is down 534 at 16025 RSI indicators hint that the underlying stock is currently neutral between overbought and oversold Next earnings are expected to be released in 91 days What The Experts Say On BioNTech Morgan Stanley has decided to maintain their Equal Weight rating on BioNTech which currently sits at a price target of 194 HC Wainwright Co has decided to maintain their Buy rating on BioNTech which currently sits at a price target of 283 SVB Leerink has decided to maintain their Outperform rating on BioNTech which currently sits at a price target of 224 SVB Leerink upgraded its action to Outperform with a price target of 223 Options are a riskier asset compared to just trading the stock but they have higher profit potential Serious options traders manage this risk by educating themselves daily scaling in and out of trades following more than one indicator and following the markets closely If you want to stay updated on the latest options trades for BioNTech Benzinga Pro gives you real time options trades alerts

I thought so much of Greg I passed him that job but it didn t work out said Dalio And look at this he didn t leave he wasn t a Prima Donna He stayed there he took the step down and went through the difficult process but the relationship and firm were of paramount importance and he learned and gained greater strength For a while longer Dalio wrestled with getting the right people in the right roles A number of different people cycled through top management positions including the CEO spot But David McCormick who was CEO of Bridgewater until he left in 2021 for a failed US Senate run followed by Nir Bar Dea and Mark Bertolini Bridgewater s current co CEOs successfully managed the day to day issues of the firm while delicately navigating the transition and the interests of many employees Jensen said Seeing them do their work underscored for Jensen what he did wrong and that he belongs in the investment management part of the business where he feels he excels Jensen is also fully aware of the extraordinary step Dalio took to hand over power at Bridgewater Ray in the end had the final vote and giving that up was a big deal Almost nobody ever does said Jensen For Bridgewater s younger staff members hitting their prime many of whom revere Dalio the leadership transition is crucial and assuages their fears that they would never get to shape the firm s future and might be better off moving on to other opportunities This is like the year it s like we re really going to move on past Ray for real we are really going to do it said Karen Karniol Tambour Bridgewater s co chief investment officer for sustainability Greg is kind of the holder of the mantle probably the most important role he s played in my view is solidifying a generation of leaders myself included who will kind of be on that mission and feel like we re building something together here that s going to be a continuation in some ways and different in others Two weeks after his capstone October dinner with Dalio Jensen spent the weekend reading about 600 pages of Bridgewater markets research This is generally how Jensen and Bridgewater s investment staff spend their weekends preparing for a Monday morning Zoom meeting that sets their agenda In late October that meeting focused on China and Xi Jinping s promotion of loyalists to top leadership positions and the resulting sell off in China s markets Jensen viewed the development as further contributing to deglobalization a trend that is inflationary because it boosts corporate operating costs and impacting global capital flows At the meeting Jensen Prince and their group of 150 investment professionals further struggled with whether the deep economic recession they are expecting will help inflation rates fall and to what extent that will support stock markets in the face of collapsing economic growth Jensen believes late October s bear market rally in stocks is a mistake that reflects market expectations inflation will keep falling quickly and painlessly but the dynamic behind the rally is keeping him on his toes We are wrestling with whether our current process is thinking through the benefits of falling inflation Jensen said Jensen is not expecting a soft landing for the economy especially when the Federal Reserve has to decide whether to raise interest rates into a slowing economy a phase he believes will be a risky period for equities Like for many institutions COVID 19 served as a turning point for Bridgewater The firm was blindsided by the economic impacts of the pandemic lockdowns and lost a lot of money It was a non economic shock that many of the research and trading algorithms Bridgewater had accumulated for years were not prepared fully to handle In response Bridgewater created an investment committee and the new structure really clicked Performance has turned around in a big way The firm also moved its entire staff to the leafy 53 acre Nyala Farms campus in Westport Ct closing its offices across town that had housed Bridgewater s investment operations for years so the whole firm could be at one location It s nearly impossible to get a parking spot there now on Tuesdays and Wednesdays when all the staff is required to be on site The rest of the week they can work remotely The way Jensen Prince and Bridgewater s investment team see it the Fed is still in the middle of its significant monetary tightening and not close to the end of it The rate hikes and quantitative tightening will end but even if it s three to five months from now Jensen said it will likely be even longer before the US central bank begins to ease monetary conditions You probably won t see the bottom of the equity markets until they begin easing six to seven months from now and you probably won t see the end of the bottom of the economy for another nine months or so after that Jensen is also very focused on corporate profit margins which exploded during the pandemic fueled by checks the government sent to households that employers didn t have to fund In other words the companies got the revenues without the expenses But now revenues are starting to fall while the labor market remains tight leading to higher wage costs as revenues are turning in the opposite direction You are going to see an earnings move in our view much more significant than the economic move which is going to be much more significant than the markets are expecting said Jensen The markets are expecting a moderate economic move and a very minor move in profits We think they re missing it Jensen is betting that 2023 will likely be the year of a very significant global recession but he s less sure how the Fed will handle it whether the US central bank will reverse tightening policy quickly or more gradually A more gradual tightening would be worse for equities Either way Jensen thinks the days of monetary policymakers targeting inflation of 2 are over Inflation will now be floored at 2 Jensen predicted Over the last few years Dalio Jensen s old boss preached that cash is trash suggesting that holding cash was a bad investment decision Dalio reversed course on that idea this year as interest rates soared abruptly crushing almost every asset class other than the US dollar It has been a uniquely terrible environment for Bridgewater s passive All Weather strategy which holds a diversified mix of stocks and bonds and aims to perform well in good markets and bad It s difficult for the strategy to do well when cash is king and All Weather is down 272 in the first nine month of 2022 Jensen said it s unusual for policymakers to allow cash to outperform for a long period of time and expressed confidence in the strategy All Weather has delivered a net return of 64 since its inception in 1996 Any year in which cash is the best asset All Weather is going to have a poor year Jensen said And yet the loss in All Weather as painful as it s is normal Not surprisingly Jensen is also bullish on Bridgewater One of the things going on with the Bridgewater story is the return of macro investing For years the investing style languished as policy moves across the globe remained stable and consistent The lack of macro volatility could be seen not only in Bridgewater s returns but in the uninspiring returns of other big macro managers Many of them shrunk or went out of business entirely Starting right after COVID we went from our signals being at the lowest decile to the highest decile and we are still there said Jensen The opportunity to get things right is as big as it s ever been

Valens Co said that it has identified 10 million Canadian dollars US79 million in annual cost efficiencies as part of its strategy to drive growth The Canadian vertically integrated cannabis company said Wednesday that it has entered the grow and optimize phase of its launch grow optimize strategy The company said the annual cost efficiencies would come from improved operational efficiencies portfolio rationalization and automation among others Valens also said there could be as much as an additional C10 million in savings in the coming quarters through other planned initiatives As part of this phase of its strategy the company said it will focus on driving revenue growth in the Canadian recreational and US health and wellness markets The company said tit expects to capture more of its brands markets and increase gross margins Valens said it will begin to implement the new efficiencies by the end of the year Investors can expect to start to see some of the benefits of the first wave of efficiencies in fiscal 2Q 2022 with the majority of the impact being realized in the second half of the fiscal year Chairman and Chief Executive Tyler Robson said

Jan 12 Reuters Britain s second largest housebuilder Persimmon Plc PSNL warned of weak conditions in the housing market on Thursday as a sharp rise in mortgage rates and broader economic uncertainty weigh on demand Persimmon s statement comes a day after its bigger rival Barratt BDEVL said it would build fewer homes in its current fiscal year while order book in nearly four months to December end slid about a third The UK housing market has slowed in recent months hit by a spike in mortgage rates and lower loan availability while concerns about further near term rate hikes and uncertainties about the extent of impact of red hot inflation on households have added more pressure Higher mortgage rates inflation heightened market uncertainty and the end of reservations under the Help to Buy scheme in England had a sharp impact on the group s private sales rates in the fourth quarter and will have an adverse impact on the outlook for 2023 the company said in a full year trading statement The FTSE 100 firm said current forward sales the transaction contract signed between buyers and builders with a future date was at 1 billion pounds 121 billion compared with 16 billion pounds a year earlier Reporting by Aby Jose Koilparambil in Bengaluru Editing by Rashmi Aich

Youtube expanded its actions against Russia Friday adding to a growing list of companies including JPMorgan Chase and Disney that are distancing themselves from Russia after its invasion of Ukraine Youtube said Friday it was blocking access to channels associated with Russian funded media globally expanding on a move made by the company last week to block them in Europe A spokesperson for JPMorgan Chase told CNBC on Thursday the bank is in the process of “actively unwinding Russian business” and is not pursuing new opportunities in the country After pausing theatrical releases in Russia last week Disney announced Thursday it is taking steps to suspend its business in the country including cruises licensing and productions After Verizon waived residential and mobile call fees and roaming charges to and from Ukraine last week a company spokesperson told Forbes on Thursday that through March 17 Verizon is waiving international calling texting and data roaming charges to and from Hungary Moldova Poland Romania Slovakia and Ukraine and will donate 750000 to relief efforts Investment bank Goldman Sachs is “winding down its business in Russia in compliance with regulatory and licensing requirements” a spokeswoman told Forbes on Thursday adding that the firm is “focused on supporting clients” as it manages or closes out pre existing obligations in the market Sony Interactive Entertainment which makes popular video game console Playstation told The Verge Wednesday it suspended software and hardware shipments to Russia closed its Playstation stores there and delayed the release of Gran Turismo 7 in the country Marriott said Thursday it closed its corporate office in Moscow and paused plans for new hotel development and investments in Russia though its third party owned hotels in the country will remain open at this time Hilton announced the closure of its Moscow office Wednesday and the suspension of new business in Russia and said the company will donate any profits from business in the country to humanitarian efforts in Ukraine Hugo Boss said Monday it would suspend its retail operations in the Russia and temporarily closed its stores in the country on Wednesday Fast Retailing the company behind retail giant Uniqlo said Thursday it was temporarily suspending its operations in Russia only days after chief executive Tadashi Yanai said stores would stay open in the country because “clothing is a necessity of life” and “the people of Russia have the same right to live as we do” 3M the consumer goods conglomerate known for its household products announced Tuesday it would suspend all business operations according to the Wall Street Journal Sneaker brand Skechers said Wednesday it suspended shipments to Russia last week and it promised to donate 250000 to organizations in Poland and Ukraine and match an additional 250000 in employee donations John Deere announced Wednesday the company stopped shipping its machines to Russia two weeks ago and has since also halted shipping to Belarus a key ally of Russia Amazon said Tuesday it will halt shipment of retail products to customers in Russia and Belarus suspend access to Prime Video in Russia and no longer accept new customers based in Russia or Belarus as Amazon Web Services clients or third party Amazon sellers WarnerMedia CEO Jason Kilar told employees the company is halting all new business in Russia and will not broadcast its channels there license content from Russian entities or release movies or games in the country Variety reported Wednesday Heineken NV the world’s second largest beer brewer said Wednesday it would not sell produce or advertise Heineken branded beer in Russia Tobacco company Imperial Brands said Wednesday it suspended operations in Russia and have halted production at its factory in Vogograd Tobacco brand Philip Morris International which makes the popular cigarette Marlboro said Wednesday it suspended plans for investments in Russia including new product launches and will scale down its manufacturing in the country Papa John’s suspended all corporate operations in Russia including marketing and support of it’s independently owned locations the company said Thursday Universal Music Group is suspending its operations in Russia and will close its Russian office it told Variety which also reported Tuesday the other two major US music labels—Sony and Warner—will announce decisions about their companies’ statuses in Russia in the coming days Bumble said it will halt operations in Russia and will remove its apps from Apple and Google’s app stores in both Russia and Belarus noting Ukraine Russia and Belarus accounted for 28 of the company’s sales in 2021 PepsiCo suspended sales of Pepsi Cola Mirinda 7Up and other brands in Russia on Tuesday and cut off all capital investments advertising and promotions in the country Coca Cola said Tuesday it will suspend business in Russia Starbucks suspended all business activity in Russia Tuesday temporarily closing locations and pausing the shipment of Starbucks products the company said in a letter Fast food giant McDonald’s announced Tuesday it will “temporarily” close its 847 locations in Russia but will continue to pay its 62000 employees there and is still paying its Ukrainian employees Read more here Luxury watch maker Swatch Group home to brands like Omega and Blancpain paused its retail operations in Russia on Tuesday Adidas closed its stores in Russia and suspended its online sales there Tuesday after the brand said on March 1 it was suspending its partnership with the Russian Football Union effective immediately bringing a halt to the years long partnership between the soccer program and Europe’s largest sportswear manufacturer Shell said Tuesday it would stop buying Russian oil and gas after announcing last week it it would divest in several ventures with Gazprom a Russian state owned gas company totaling to roughly 3 billion in value Read more here Estée Lauder said Monday it would close the stores it owns and operates in Russia and would stop shipping its products to other retailers there PG told employees Monday it would halt capital investments advertising and promotions in Russia and only focus on selling products related to personal care hygiene and basic health the Wall Street Journal reported IBM announced Monday it has suspended all business in Russia and that it is donating 500000 to Czech and Polish humanitarian organizations WeWork said Monday it is “finalizing solutions” to “divest operations” in Russia and has paused plans for expansion in the area Denim retailer Levi Strauss announced Monday it is suspending sales and halting investments in Russia and will donate over 300000 to organizations aiding the refugees and people in Ukraine Car maker Nissan said Monday it has suspended Exports to Russia and “anticipates” that production will soon halt at its St Petersburg plant and announced a 25 million Euros fund to help the people of Ukraine and employees affected by the crisis Deloitte said Monday it would “no longer operate” in Russia or Belarus and Ernst Young said it would no longer work with the Russian government Russian state owned companies or “sanctioned entities and individuals anywhere in the world” KPMG and PricewaterhouseCoopers two of the four major US accounting firms each announced Sunday their Russia based firms would be leaving their respective networks with KPMG’s Belarus based firm leaving as well “We believe we have a responsibility along with other global businesses to respond to the Russian government’s ongoing military attack on Ukraine” KPMG said in its release Netflix paused production and acquisitions of four Russian projects Deadline and Variety reported Wednesday siting anonymous sources and told Variety Sunday it was suspending its streaming service in Russia TikTok announced on Twitter Sunday it is suspending live streaming and new content to its video service in Russia while it reviews the “safety implications” of Russia’s law which went into effect Friday and bans any content the Russian government deems “fake news” about its military—with the publishing of such content punishable by up to 15 years in prison American Express is suspending all operations in Russia in response to the country’s “unjustified attack on the people of Ukraine” the credit card company announced Sunday in a press release adding it is ending all business operations in Belarus Mastercard and Visa each announced Saturday their cards will no longer function at Russian merchants or ATMs and that cards issued in Russia by Russian banks will no longer function internationally following their earlier block of a number of Russian financial institutions targeted by sanctions from their networks in compliance with Western sanctions The Prada group which owns luxury brands Prada and Miu Miu said Saturday it is suspending retail operations in Russia EA suspended sales of its games and other content including virtual currency bundles in Russia and Belarus March 4 after removing the Russian national team from FIFA and the Russian and Belarusian teams from its NHL games earlier this week Hermès became the first luxury brand to suspend operations in Russia announcing March 4 it would temporarily close its stores in the country saying it is “deeply concerned by the situation in Europe” the Wall Street Journal reported followed shortly by a similar announcement from Chanel which added it will also suspend deliveries to Russia Microsoft said March 4 it was suspending new sales of its products and services in Russia and is “proactively” working “to help cybersecurity officials in Ukraine defend against Russian attacks” Samsung halted shipments to Russia on March 4 the company told Reuters and Bloomberg following a similar move by Apple Airbnb is “suspending all operations in Russia and Belarus” CEO Brian Chesky tweeted March 3 days after the apartment sharing firm said it would offer free short term housing for 100000 refugees fleeing Ukraine Google said March 3 it will no longer sell online advertising in Russia through its search engine YouTube or outside publishing partners according to Reuters and the apps for Russian state run media outlets RT and Sputnik were removed from Google’s Play store Wednesday Volkswagen suspended production of its vehicles in Russian cities Kaluga and Nizhny Novgorod and paused exports to the country A statement from the companies in charge of IKEA’s stores and supply reported by Reuters said the “huge human impact” of the war as well as supply chain disruptions prompted the firm to take close its shops in Russia Mercedes Benz said March 2 it is suspending the export of passenger cars and vans to Russia and is pausing local manufacturing in the country Software company SAP announced March 2 it is “stopping business in Russia aligned with sanctions” and suspending product and services sales in the country though Ukrainian Ukrainian vice prime minister Mykhailo Fedorov tweeted it did not go far enough and asked the organization to “stop support of SAP products as long as Russian tanks and missiles attack Ukraine” Spotify closed its Russian office indefinitely and followed suit with fellow tech leaders Google and Apple by removing all content from RT and Sputnik from its platform in response to the country’s “unprovoked attack on Ukraine” though the company says it is not disabling its service in Russia as it believes it is critical to maintain a “global flow of information” Variety reported March 2 Technology company Oracle tweeted March 2 that it has “already suspended all operations in the Russian Federation” after Ukrainian vice prime minister Mykhailo Fedorov publicly urged the company to stop doing business in Russia “until the conflict is resolved” Clothing retailer HM said March 2 its Ukrainian stores have been temporarily closed for safety reasons and the company has temporarily paused its sales in Russia Following decisions February 28 by FIFA and the Union of European Football Associations to bar the Russian team from competing EA Sports announced March 2 it has begun removing the Russian national team and Russian clubs from its FIFA video games “in solidarity with the Ukrainian people” Honda suspended exports of its cars and motorcycles to Russia with a spokesperson for the company telling Reuters on March 2 it was because of shipping and payment difficulties Dell paused sales of its products in Russia on March 1 the Wall Street Journal reported ExxonMobil announced March 1 it will exit a joint venture off Sakhalin Island in Russia’s Far East and will not invest in other developments in the country following its invasion of Ukraine which the company said “violates the territorial integrity of Ukraine and endangers its people” Boeing said March 1 it has suspended major operations in Moscow along with maintenance parts and technical support services for Russian airlines adding that it shut down its Kyiv office according to Politico Streaming provider Roku removed the Russian state controlled television network RT from its channel stores in the US March 1 one day after it was removed from European stores according to Deadline and Reuters Nike has disabled online product purchases in Russia as it cannot guarantee delivery to customers in the country the brand said on its Russian website directing customers to local Nike stores Ford announced March 1 it was suspending its commercial van JV in Russia “until further notice” Apple said March 1 it paused sales of its products in Russia restricted apps for RT at Sputnik so they can only be downloaded in the country and disabled the traffic feature within Apple Maps in Ukraine “as a safety and precautionary measure for Ukrainian citizens” In a blog post March 1 Snap Snapchat’s parent company said the social platform has stopped running ads in Russia Belarus and Ukraine will halt ad sales in Russia and Belarus and has pledged 15 million to organizations helping those in Ukraine A spokesperson for BMW told the Wall Street Journal March 1 the company “will stop our local production and export for the Russian market until further notice” and said the luxury car maker “condemn s the aggression against Ukraine” Meta executives said March 1 posts from Russian state media are no longer being recommended to users by Facebook’s algorithm and soon won’t be by Instagram’s according to The Verge days after the company said it restricted access to Russian state media accounts in Ukraine blocked Russian state media from running ads and earning money from their accounts on the platform and said it took down posts related to a disinformation campaign targeting Ukraine DirecTV told Axios on March 1 that the company is “accelerating this year s contract expiration timeline” of RT America and “will no longer offer their programming effective immediately” hours after the National Association Of Broadcasters called on broadcasters “to cease carrying any state sponsored programming with ties to the Russian government or its agents” Maersk one of the world’s biggest shipping lines suspended deliveries to and from Russia on March 1 apart from food medical and humanitarian supplies citing the impact of sanctions The Walt Disney Company which owns Marvel Studios 20th Century Studios Pixar and other film properties announced February 28 it is pausing its release of theatrical films in Russia including its anticipated Pixar film Turning Red “given the unprovoked invasion of Ukraine and the tragic humanitarian crisis” A spokesperson for Netflix told the Wall Street Journal February 28 that “given the current situation” the streaming service has no plans to distribute news sports and entertainment channels from Russian state media despite a new Russian regulation that requires organizations with more than 100000 subscribers to carry them according to a source familiar with the matter Twitter said February 28 it would label tweets that share information from Russian state media accounts and announced Friday it was temporarily suspending ads in Ukraine and Russia “to ensure critical public safety information is elevated and ads don’t detract from it” Etsy announced February 28 it was canceling all balances owed to the company by sellers in Ukraine including listing and advertising fees amounting to roughly 4 million to alleviate financial hardships felt by those in the country Oil giant BP divested a roughly 20 stake in Russian oil company Rosneft February 27 and announced the immediate resignation of two BP nominated Rosneft board members with BP chair Helge Lund calling Russia’s attack on Ukraine an “act of aggression” and saying BP’s “involvement with Rosneft a state owned enterprise simply cannot continue” Hotel group Accor and food companies Nestle and Mars are among the few multinational companies that are still doing business in Russia Read more here Organizations around the world are also taking action against Russia The International Olympics Committee requested last week that sports organizations around the world ban Russian and Belarusian athletes from competing Last week the Eurovision song contest barred Russia from competing this year and Formula 1 canceled the Russian Grand Prix The international fallout comes as the US and other Western allies voted to remove some Russian banks from SWIFT and executed other rounds of sanctions on Russian financial institutions Russian President Vladimir Putin has also been the direct target of sanctions with the US freezing his personal assets and those of Foreign Minister Sergei Lavrov and other wealthy Russian oligarchs From Hilton To Mars To Uniqlo These Major Companies Are Continuing To Do Business In Russia Forbes ‘There Isn’t A Both Sides Anymore’ With Russia Customers And Employees Demand Action From Corporations Forbes Americans Want Companies To Take Action—Not Just Make Statements—Against Russia For Invading Ukraine Poll Finds Forbes BP Drops Nearly 20 Stake In Russian Owned Oil Firm After Invasion Of Ukraine Forbes YouTube Temporarily Demonetizes Russian Channels And Restricts Access To Them In Ukraine Forbes Eurovision Bans Russia As World Cuts Ties Amid Invasion Of Ukraine— See The Full List Here Forbes IOC Russian And Belarusian Athletes Should Be Banned From All International Sports After Ukraine Invasion Forbes FIFA Takes Stand Against Russia Here’s How The Sports World Has Reacted To The Ukraine Invasion Forbes Correction A previous version of this article said that British American Tobacco suspended business in Russia It suspended business in Ukraine

The idea was that the financials would do well this year but we ve now got a tougher regulator being nominated by the White House You ve got costs going up Those offset the idea that actually in a rising interest rate environment you want to buy the bank s Yeah I would Of course it could Right I would say everyone kind of knew we were gonna get a harder regulator from the Fed on bank So I don t think there s anything surprising there that s not already priced into the market I think the natural dynamics as you said rising interest rate environment banks do better I think that you know on the other side longer duration assets like CAC where all of the value is very long term I get discounted a lot more in an environment like that So I don t think one month or one you know earning a couple of earnings coming out is enough to say OK the natural dynamics are our offset They enlist just a little bit about you said that it was priced in about the market How much of this is also the outperformance I mean in these financial stocks is coming from perhaps a bet on this kind of rebound in value stocks something that we started twenty twenty one off expecting would drive and then we had that turnaround How much of 2022 is mirroring that Yeah that is a really great point And depending on the measurement used for value last year growth did still outperform value and certainly values doing very well for a long time It depends on your measure you know how you re investing I would say that prices still matter right And we are at a point now where by certain measures the gap between growth and value stocks on a price basis are more than what we saw in the dotcom bubble So I do think price matters I do think eventually mean reversion Right Which is just the tendency to go back to the norm All works in favor of cyclicals value stocks etc The market thus far seems to have taken a three four rate hikes really come I know the Nasdaq is down were down 4 percent but if you d told me a year ago that we d be talking about three four hikes and the Nasdaq would only be off its record high by that kind of amounts I think he probably would have been a little bit surprised Yeah a lot does happen for sure The Fed really changed its tack right I mean we spent the year here in the Fed Talk about inflation is transitory We care more about full employment We re not going to preemptively act etc Now you re being pretty much the exact opposite in terms of the rhetoric you re hearing Hawkishness FOMC says about three hikes We know that hedging different curves are saying more like 4 So we re definitely we ve definitely switched You know where we re mindsets are But let s not forget it s a long way to go And there s a lot of information that the Fed can take in between now and the end of this year Right So if older cron is not as manageable as it appears right now if growth starts to taper off If we if we have a flattening of the curve The Fed is going to be reactive to that They re going to pay attention to those inputs and not necessarily just keep making Dana I m so glad that you mentioned that the market is pricing as many as four rate hikes If we actually look into the curve going out to 2024 some people are saying much as eight rate hikes between now and then I m curious though how much you think say the 10 year yield can really rally as you have these conversations been going on for it for months on end Well we are seeing that starting obviously now Right I think because on the ground looks more manageable So so folks are expecting higher growth Obviously the retail report that in December it wasn t as good as we thought But it s one you know it s one month Right I do think that treasuries are going to continue to rally I do think you know the information I get there s sort of a band around that Right So do we get to 2 percent and and really that the difference between whether we re we re steepening or flattening I do think makes a difference in the Fed s movements And it remains to be seen Growth is going to be a big driver of that What do you think is going to happen with some of the other assets that we re watching so carefully One of the things that I think has caught some people on the hop already so far this year has been dollar positioning The dollar has weakened I know it s not today but you still got a euro dollar at 114 You re starting to see other markets around the world maybe looking a little bit more attractive as we see maybe positioning changing around the buck Yeah it was interesting last year to see such strength in the dollar given how dovish we were not much stimulus We were pumping in but the reality is x us even more so Right So it s just it s all relative I think the dollar actually probably continues to stay strong suit it to a certain extent because other economies are behind us on the tightening We re more hawkish at this point but I don t I don t expect to see the same level of strength Right as these other economies catch up in the tightening cycle So it kind of feel like you re saying that there shouldn t be this divergence necessarily in the dollar and yields that we have seen in the past couple of days A lot of that like I said is going to be positioning That s coming up But you seem to say that that s not going to happen that the dollar still has some some strength to go I think so Yeah I mean just the the overall dynamics of the situation you know short term volatility it s hard to say what drives any of that But I think you know when you re looking just out at the next six months to a year as long as we remain as hawkish as we are as long as we do embark on these rate hikes tightening Right The Fed is talking about using its balance sheet We also tighten I think the dollar can continue its strength They did do you Do you want to be fully invested right now Do you think they re all going to be opportunities this year as a result of the volatility if you ve got cash on the sidelines Are we late cycle in and how do I think about a late cycle environment in terms of managing my positions Maybe Maybe kind of taking a little bit more opportunity Maybe just just being fully invested Are you thinking about kind of entry points and exit points Yeah it s a fantastic question because my thought is that probably a lot of people at this point are over invest in equities relative to the response rate We had a bull market You know what happens if I m a 60 40 risk tolerance let s say badlands I enjoy all that appreciation in my equities And then I have really more than I can probably tolerate losses So it s definitely a time to be looking at your portfolio and saying OK am I at the right risk levels Do I need to moderate I think everyone is expecting lower growth this year Probably more volatility Right You re Twenty eight point seven percent It s just you know base rates alone We re not likely to hit that So looking at your positions and saying OK you need to trim some equity exposure it s not to say you shouldn t be in the markets now It s really more about being in the markets at the rate at the level that you can tolerate the loss Well Dana you just mentioned that volatility Let s kind of bring the conversation full circle back to where we started with banks How much of that expected volatility that we re going to see perhaps in the equity markets even the commodity markets where you say the bond market is going to factor back into those trading profits for some of the big banks Yeah you know volatility kind of begets volatility so it s going to be interesting to see I mean if if this if it does transpire that we get more volatility I would expect that kind of builds on itself Right So yes banks and you know obviously cyclical sectors are facing that contingency But on the other side we are looking at a situation where with with luck I m a crime of sort of the beginning of the end of this pandemic The reopening trade comes back for us And we see the economy energy and energy industrials et cetera kind of coming back for us

US stock futures mostly edged higher Monday as investors digested growing expectations of another interest rate increase and braced for a busy week of earnings Investors now widely anticipate another rate rise at the Federal Reserve’s May meeting—a turnaround from a month ago when banking stress fueled bets the Fed would have to cut its tightening short Fed comments last week put rate increases back on the table Fed funds futures Monday implied an 84 chance the Fed will raise interest rates by 025 percentage point in May CME Group data show That s up from 78 on Friday and 21 a month ago

Since March mainland China has struggled to contain its worst Covid outbreak in two years Notably the metropolis of Shanghai pictured here on May 18 only started this week to begin discussing resumption of normal activity with a goal of mid June BEIJING Goldman Sachs analysts on Wednesday cut their forecast for China s GDP to 4 after data for April showed a slump in growth as Covid 19 controls restricted business activity The new forecast is even further below the around 55 growth target the Chinese government announced for the year in March Given the Q2 Covid related damage to the economy we now expect China s growth to be 4 this year vs 45 previously Hui Shan and a team at Goldman wrote in a report Wednesday That prediction assumes there will be significant government support on top of measures to stabilize the property market and control Covid outbreaks Since March mainland China has struggled to contain its worst Covid outbreak in two years Notably the metropolis of Shanghai only started this week to begin discussing the resumption of normal activity with a goal of mid June Among April s weak data the Goldman analysts pointed to a plunge in housing starts and sales half the credit growth that markets expected and a drop below 1 for the increase in consumer prices excluding food and energy Other data for April released Monday showed an unexpected drop in industrial production and a worse than expected 111 decline in retail sales from a year ago Exports a major driver of growth rose by 39 in April from a year earlier the slowest pace since a 018 increase in June 2020 according to official data accessed through Wind Information

The Valens Company Inc TSXVLNS NASDAQVLNS has received a sales license amendment from Health Canada for its Pommies manufacturing facility located in the Greater Toronto Area to sell micro processed cannabis products directly to provincial distributors Prior to this announcement Valens leveraged its British Columbia sales license to sell into the provincial distributors which created additional cost and complexity in our supply chain With this amendment now in place products produced at the companies GTA Facility will benefit from a streamlined direct route to market that the company believes will increase margins and overall company efficiencies Since the opening of our facility in November 2021 we have already seen an increase in our beverage margins stated Tyler Robson CEO of Valens This amendment will further increase our flexibility and logistical efficiencies to focus on further margin growth especially with elevated shipping costs throughout Canada As we have launched more branded products we have seen our cannabis beverage market share increase from 55 in Q1 2021 to 90 in Q3 2022 in Alberta British Columbia Ontario and Saskatchewan With this amendment behind us we look forward to launching more innovative products to keep up with growing consumer demand within the category Get your daily dose of cannabis news on Benzinga Cannabis Don’t miss out on any important developments in the industry Photo Benzinga Sources courtesy of Matthias Zomer via Pexels squarefrog via Pixabay Related News What s Going On With Recreational Cannabis Sales In Canada Analyst Examines The Situation The Valens Announces Mailing And Filing Of Circular For Special Meeting Of Shareholders To Approve Arrangement With SNDL Valens Shares Slightly Up On Declining Quarterly Revenue

Are stocks ready to break away from that rocky start to 2022 The SP 500 SPX snapped a five session losing streak on Tuesday after Federal Reserve Chair Jerome Powell vowed the central bank will use its “tools” to get inflation under control without damaging the economy And equity futures are rising despite some big data that could show the fastest annual rise in consumer prices since 1982 A rebound with teeth to it may not quite be here yet say some “Bounces from oversold levels tend to be hard and fast and yesterday’s 150 point intraday reversal definitely counts as hard and fast” noted Jani Ziedins of the CrackedMarket blog “That said more often than not the third bounce is the real deal meaning we could see a couple tests of the lows before this is all said and done” On to our call of the day from so called bond king DoubleLine CEO Jeffrey Gundlach who unveiled his predictions for the year ahead And he sees headwinds for a stock market that has been “supported by QE quantitative easing ” and now faces Fed tapering with Powell sounding “more hawkish” every time he speaks “Today Tuesday sounds like Jay Powell repeating the 2018 formula end QE and raise official short term interest rates” Gundlach said in a webcast to clients that was live tweeted late Tuesday He said that he’s not “predicting a recession yet” but sees those pressures building He said the yield curve had seen “pretty powerful flattening” and was “approaching the point where it signals economic weakening At this stage the yield curve is no longer sending a ‘don’t worry be happy’ signal It is sending a ‘pay attention’ signal he said Gundlach highlighted a chart that showed consumer sentiment “free falling” which “looks somewhat recessionary” He said surging car prices could be one culprit as prices have climbed so much “people don’t think this is a good time to buy a car if they can find one” That surge in prices has even made it possible to make money by flipping and selling he said Fund manager and chief executive of ARK Invest Cathie Wood has warned of a ‘bloodbath’ in the used and new car markets The money manager said the housing market is being boosted by low supplies and should stay supported provided mortgage rates are low He is neutral on gold and sees the dollar continuing to weaken US stocks are expensive versus just about everywhere else Gundlach said as he pointed out that European markets a favorite of his in 2021 were looking good again for 2022 Looking back on Gundlach’s 2021 forecast the manager advised a “winning” formula of half cash and Treasury bonds 25 in equities mostly emerging markets and Asia and 25 in real assets such as gold or property to hedge against higher inflation He expected US equities would lag behind the rest of the globe alongside rising inflation and volatility The iShares MSCI Emerging Markets ETF EEM lost 5 in 2021 versus a 27 rally for the SPDR SP 500 ETF trust SPY a popular exchange traded fund that tracks the index Real estate indeed proved a savvy investment spot though gold dropped 3 in 2021 and Treasury bonds had a dismal year Apart from December consumer prices expected to rise 7 on an annual basis and 05 on the month the Federal budget and the Fed’s Beige Book are due later The European Medicines Agency has warned too many COVID 19 boosters could end up harming immune systems echoing comments from the World Health Organization Meanwhile the omicron coronavirus variant may peaking in the UK offering hope for the US and elsewhere And the White House is getting ready to ship millions of COVID 19 tests to public schools Biogen BIIB share are down 9 on news Medicare will limit coverage of the biotech’s controversial and expensive Alzheimer’s drug Aduhelm and future others like it Shares of Immuron IMRN are soaring after the Australia based biopharmaceutical company received 45 million from the US Defense Dept to evaluate a key drug for military use A 19 year old German teen said he managed to hack into 13 Tesla TSLA autos around the world via a software flaw that let him start the cars unlock doors and windows and disable security systems And a reminder that Friday will mark the start of earnings season kickoff with banks including Citigroup C JPMorgan JPM Wells Fargo WFC and BlackRock BLK due to report See preview Stock futures ES00 YM00 are up led by those for the Nasdaq 100 NQ00 higher as bond yields hold steady along with the dollar Oil prices CL00 are rising with natural gas futures NG00 up about 3 Where does a rise in real yields start to hurt stock investors A team of strategists at UBS led by Bhanu Baweja said when yields rise more than 40 basis points over three months “the impact on the market becomes material and goes nonlinear” “This is the range we regard as the rough threshold of real rate pain for the market An incremental 10bp rise in real yields from here causes the market to drop by about 08 ceteris paribus But what if other things are not equal A 52 point rise in PMIs will negate the hit to the market from a 50bp rise in real yields” said the strategists in a note to clients Here are the most active stock market tickers on MarketWatch as of 6 am Eastern Goldfish learns to drive thanks to robots Need to Know starts early and is updated until the opening bell but sign up here to get it delivered once to your email box The emailed version will be sent out at about 730 am Eastern Want more for the day ahead Sign up for The Barron’s Daily a morning briefing for investors including exclusive commentary from Barron’s and MarketWatch writers

Spot gold was trading near the 1930 mark on Wednesday in continued consolidation after a four month sprint brought the commodity up 20 from the Sept 28 low of 161492 Gold has reacted bullishly to the falling US dollar and fearsthe Federal Reserve’s series of interest rate hikes will plunge the US into a recession later this year “The Fed gets very nervous when the dollar starts to hit its peak They know that a weak dollar does a lot of bad things to the economy also So like they’re stuck in this position where they have to ever defend the dollar even though it doesn’t deserve it” Maple Gold Mines Ltd OTCQBMGMLF TSXVMGM CEO MatthewHornor said in a recentinterview with Benzinga “Because we went through this massive printing of currency over the last couple years for understood reasons the whole world is grappling with this inflation problem and trying to suck money back out of the money supply to correct things a bit because we just gave too much money away” Hornor said The plunging dollar soaring inflation rising interest rates and the possibility of a recession have had a positive impact on the price of gold The Fed has “a lot of things on their hands to deal with and ultimately all of that is very bullish for gold and I think this year we’re going to see new highs for gold for sure I think we might even hit 2500 this year and higher” said Hornor MatthewHornor On Bitcoin Vs Gold “I actually do not hate Bitcoin CRYPTO BTC and see a couple of the other cryptocurrencies as things that one should have in their portfolio to some extent” he said But “gold in comparison or a comparative asset class or store of value is far more stable and always has been and I think always will be” Whether or not Bitcoin is a solid hedge against inflation —or a full blown recession can’t be confirmed due to its lack of trading history during severe economic downturns The last US recession was caused by the collapse of the US housing bubble and lasted from December 2007 to June 2009the year Bitcoin started transacting Gold on the other hand has been traded for centuries and has historically been shown to be a good hedge for inflation and a wise long term hold during a recession “The blip that we saw with crypto going crazy and all the FOMO and all the rest in the context of the history of the gold market was kind of a millisecond if you look at the history of gold and how it has been used in society for hundreds if not thousands of years” Hornor said “Bitcoin did have anegative impact on the gold buyers and the gold investors and I think that has tempered of late which is helping the gold bugs and also the gold equities like Maple Gold “The nice thing about owning shares in gold equities producers and juniors like us is that it’s backed by something actually real There’s actually a gold shiny metal object under the ground that can be produced that creates value for those shares” Hornor Talks Maple Gold What To Watch In 2023 “There arethree projects that we currently are actively drilling in a 400 sq km land package so it’s significant and compelling” Hornor said Maple Gold has threeprojects its 100 controlledEagle Mine Project and its Joutel Mineand Douay Mine projects which are owned by a 50 50 joint venture between Maple Gold and Agnico Eagle Mines Ltd NYSEAEM All the projects are in Quebec Canada “There arethree core assets that are getting better every day but we have so many other targets” Hornor said The junior miner has five drill rigs actively turning and about 20 of the results from 2022 pending which Hornor expects to receive soon “Over the next few weeks I think we’re going to have a lot of information coming out to the market Within the month of February I think we’ll have at least one if not two PRs around some of the results we’re seeing” he said On Jan 9 Maple Gold announced it drilled 103 grams per ton gt gold over 78 meters Including 411 gt Gold over 1 meter at its North Mine Horizon at Eagle The company was working to complete a 6000 meter drill program at its Telbel project by the end of January 2023 “With the deeper Telbel holes I mean we’re going after 30 40 50 to 80 gram targets that were left behind by Eagle back in 1993” Hornor said In total Hornor expects to drill between 20000 to 30000 meters across Maple Mine’s three projects this year with 15000 meters planned to take place before breaking temporarily to analyze the results and plan a subsequent program “It’s going to be a very robust cycle with a lot of meterage and a lot of results coming out to the market” Hornor said “I’d like the market to really pay attention to not just the individual drill programs but take a step back to appreciate the size and scale” he added “Even though some of the drill intercepts and information out in the media are in certain smaller sections we’re really focused on what that means for the larger project potential” On just how large of a discovery Maple Gold could be sitting on top of Hornor said “We think we’re sitting on something that could be significantly large and something that endures for many generations “I think we’ll have some surprises for the market outside the current resource areas because again we have a huge land package that is begging to be worked on and we’re going to answer its call” Hornor said about the upcoming year for Maple Gold Read NextA Bullish Sign Appears On Barrick Gold s Chart

Private student loan rates for 10 year fixed rate loans are down for the third straight week at 561 for the week ending June 6 down from 578 the week prior according to the latest data from personal finance marketplace Credible Meanwhile 5 year variable rate loans are up just slightly to 367 from 345 the week before You can see the lowest rates you may qualify for here Private student loans are issued by private financial institutions such as banks and credit unions unlike federal student loans which are issued by the government “I always recommend that students borrow federal first before turning to private student loans” Mark Kantrowitz a student loan expert and founder of PrivateStudentsLoansguru recently told MarketWatch Picks Indeed for their part federal loans have more favorable repayment terms options for loan forgiveness and other perks compared to private loans That said if you’ve maxed out your federal student loans and you’ve still got debt private student loans can help bridge any gaps in your funding Additionally if you have excellent credit or you have a cosigner with excellent credit you’ll likely be able to take advantage of competitive interest rates which can make them more affordable than public loans So if you need a private loan here are the key things to know Rates vary on private student loans and lenders take things like credit score and income into account when determining whether or not a borrower qualifies for a loan and at what rate You can see the lowest rates you may qualify for here Private student loans are generally more difficult to get than federal student loans Here are four things to know before you take out a private student loan It’s not uncommon for private student loan lenders to require that payments be made while the borrower is still in school whereas federal student loans generally aren’t due until after the borrower has graduated What’s more private student loans are sometimes subject to prepayment penalties so check with your lender to make sure you know what to expect if you plan to make payments ahead of schedule

Jeff Smith s Starboard Value piled into SPACs in the first quarter even as the blank check market started to fall apart The hedge fund manager added at least 30 new SPACs in the first quarter according to a regulatory filing Most of these new positions were worth less than 10 million as of the end of March The flurry of new SPAC investments came even as the once red hot market pulled back significantly These blank check companies are often speculative stocks with little earnings and they have taken a beating amid rising rates and regulatory crackdown SPACs or special purpose acquisition companies raise capital in an initial public offering and use the cash to merge with a private company and take it public usually within two years The Securities and Exchange Commission in March introduced a host of new rules for SPACs that would mark one of the broadest attempts to date at cracking down on blank check companies The proposed rules would amend safe harbor rules and leave SPACs open to investor lawsuits for excessively rosy business forecasts The CNBC SPAC Post Deal Index which is made up of SPACs that have completed their mergers and taken their target companies public has tumbled more than 40 year to date In July 2021 Smith sponsored a 300 million blank check deal himself Starboard Value Acquisition Corp completed its business combination with Cyxtera Technologies a data center colocation and interconnection services company The stock is up about 12 in 2022 Here are just some of the SPACs Smith added in the first quarter 10x Capital Venture Acq III A SPAC I Acquisition Corp Aetherium Acquisition Corp Ahren Acquisition Corp ALSP Orchid Acquisition Corp Altimeter Growth Corp 2 Andretti Acquisition Corp AP Acquisition Corp Apeiron Capital Invest Corp APX Acquisition Corp Ares Acquisition Corp Ascendant Digital Acq Corp I Atlantic Coastal Acquisition Corp Banyan Acquisition Corp Battery Future Acquisition Beard Energy Transition Acq Bioplus Acquisition Corp Blockchain Coinvestors Acq Corp Bullpen Parlay Acquisition Burtech Acquisition Corp C5 Acquisition Corp Cactus Acquisition Corp 1 Capital Works Emerging Markets Acq Cartica Acquisition Corp Other than SPACs Starboard added to its bet on GoDaddy in the first quarter after taking a 65 stake in the web services company in December Smith has remained a prolific activist investor calling for changes in Humana Kohl s Mercury Systems and others Starboard Value manages about 62 billion in assets according to filings through the first quarter of 2020 Smith spun the New York based hedge fund out of investment firm Ramius in 2011

Brittney Griner s nightmare in a Russian penal colony has finally come to an end after ten months TheWNBA superstar was released Thursday in a one for oneprisoner swap for international arms dealerViktor Bout according to a US official The one for one swapagreement negotiated with Moscow which has been in the works for months was approved by President Biden within justthe last week according to sources familiar with the deal according to CBS News The swap took place on Thursday in the United Arab Emirates Five former US officials told CBS News the agreementhad been reached as oflast Thursday A White House official said President Biden was in the Oval Office Thursday morning on the phone speaking with Griner and her wife Cherelle and that VP Kamala Harris was also in the room As per standard procedure for freed US prisoners Griner is expected to quickly undergo a medical evaluation Griner thetwo time Olympic Gold Medalisthad been playinig forseven years on a famous Russian basketball team was arrested exactly one week before Russia invaded Ukraine She was latercharged and sentenced to nine years in prison for possessing less than a gram of cannabis oil legally prescribed to her in the US To secure Griner s release the president ordered Bout to be freed and returned to Russia commuting what is left of his 25 year federal prison sentence Notably the Griner for Bout exchange leaves Marine Paul Whelanstillimprisoned in Russia Whelan has been in Russian custody for nearly four years This is a breaking story check back for updates

Raymond James analyst Buck Horne lowered ratings on all of the home builder stocks he covers as he believes the recent “relentless” climb in mortgage rates has ensured a housing recession “Interest rate volatility isn’t just slowing the for sale market” Horne wrote in a note to clients “We are seeing a broad spectrum reduction in housing demand including multifamily and SFR single family residence Net new household formations seem to have come to a standstill” Horne double downgraded PulteGroup Inc PHM KB Home KBH and MDC Holdings Inc MDC moving his ratings down two notches to market perform from strong buy and cut his ratings on Lennar Corp LEN and Toll Brothers Inc TOL by one notch to market perform from outperform He remains bullish on DR Horton Inc DHI but less than before as he downgraded the stock to outperform from strong buy “Begrudgingly we are tapping out on the homebuilders after a relentless 2 percentage point increase in 30 year mortgage rates over the past 25 months” Horne wrote “Unsurprisingly numerous anecdotes and indicators…corroborate that the recent parabolic spike in rates has cratered what residual housing demand was still in the market this summer” Don’t miss Mortgage rates surge to the highest level since April 2002 ‘The next several months will undoubtedly be important for the economy and the housing market’ Also read US housing starts retreat in September dragging down US growth The iShares US Home Construction exchange traded fund ITB has dropped 138 over the past three months and tumbled 375 year to date In comparison the SP 500 index SPX has lost 68 the past three months and fallen 218 this year Horne said that with average effective mortgage rates now north of 7 virtually all of the housing affordability metrics he tracks are now in “unprecedented” territory And with the Federal Reserve indicating that more interest rates hikes are coming as inflation remains stubbornly high mortgage rates will likely remain high Read more Fed OKs another massive interest rate high and it’s not about to stop “As such the housing sector and homebuilders must now brace for a Fed assured hard landing you win Jerome with significantly lower absorption rates and downward pressure on new home prices” Horne said “While we still adamantly believe single family housing in the US remains deeply under supplied our experience also tells us that homebuilding stocks will be challenged to outperform so long as home prices remain under pressure” “Jerome” refers to Fed Chairman Jerome Powell

PRAGUE Feb 23 Reuters The crisis between Russia and Ukraine will have an inflationary impact through higher energy prices and a downward effect on growth although the extent is still unclear Czech central bank Governor Jiri Rusnok said on Wednesday Rusnok told Czech radio the crisis could delay the return of inflation which has already surged to a more than two decade high of near 10 to normal levels The central bank head though reiterated steep interest rate hikes would not be needed after a series of swift increases already delivered since last year It is not possible to rule out a further rate rise but they certainly will not rise in steep steps Rusnok said The Czech National Bank has lifted its benchmark rate by 425 basis points to a 20 year high of 450 since last June That has included 375 basis points worth of hikes at the last four meetings The bank the most aggressive among central European peers in tackling sharp price growth has signalled a slow down in its tightening even as inflation soared to 99 in January It sees a likely inflation peak above 10 in the coming months as surging energy bills and other factors hit households On Wednesday data showed producer prices grew 194 in January their fastest in three decades which will feed into consumer inflation The central bank sees inflation slowing sharply in the second half of 2022 according to staff forecasts although Rusnok said the de facto war in eastern Ukraine could impact that outlook So the return to normal may be a little delayed he told Czech Radio Reporting by Jan Lopatka writing by Jason Hovet Editing by Tomasz Janowski

US stock futures traded lower this morning Here are some big stocks recording gains in today’s pre market trading session HUTCHMED China Limited NASDAQHCM shares jumped 187 to 1175 in pre market trading after the company reported positive topline result in Fruquintinib Phase III FRUTIGA study in second line gastric cancer in China Agenus Inc NASDAQAGEN climbed 138 to 286 in pre market trading Agenus recently posted a Q3 loss of 019 per share Sorrento Therapeutics Inc NASDAQSRNE gained 131 to 207 in pre market trading after climbing 13 on Friday Silvergate Capital Corporation NYSESI gained 12 to 3854 in pre market trading Silvergate Capital recently issued a statement on FTX exposure SNDL Inc NASDAQSNDL jumped 85 to 282 in pre market trading after gaining over 8 on Friday Canoo Inc NASDAQGOEV rose 7 to 169 in pre market trading after jumping over 30 on Friday MacroGenics Inc NASDAQMGNX gained 7 to 720 in pre market trading KE Holdings Inc NASDAQBEKE rose 63 to 1438 in pre market trading after surging over 19 on Friday Atai Life Sciences NV NASDAQATAI gained 62 to 292 in pre market trading ATAI Life Sciences recently reported a Q3 loss of 021 per share Lufax Holding Ltd NYSELU gained 6 to 194 in pre market trading 360 DigiTech Inc NASDAQQFIN climbed 49 to 1529 in pre market trading following strong quarterly earnings Also check this out Unity Software Amazon Doximity And Other Big Gainers From Friday

OTTAWA Jan 26 Reuters The Bank of Canada on Wednesday said economic slack had been absorbed setting the stage for its first rate hike since 2018 and forecast inflation would remain higher than previously predicted A broad set of measures including labor market indicators surveys on business sentiment and measures of core inflation suggest that economic slack is now absorbed the Bank said in its January Monetary Policy Report The central bank also said the Omicron coronavirus variant was slowing global economic activity but the impact was temporary and likely to be less severe than in previous waves It cut its domestic growth outlook to 46 in 2021 from 51 forecast in October and to 40 in 2022 from 43 On inflation it now sees consumer price growth averaging 42 in 2022 up from 34 forecast in October easing to 23 in 2023 and then remaining close to its 2 target in 2024 In October the bank had said inflation would return to around 2 by end 2022 Supply chain bottlenecks which have helped drive inflation are expected to diminish over 2022 Robust demand and recovering supply will lead to strong growth over the projection horizon it said

Bitcoin CRYPTO BTC was spiking up about 18 higher during Friday’s 24 hour trading session in tandem with the SP 500 which was surging over 2 Ethereum CRYPTO ETH was also rising more than2 while Dogecoin CRYPTO DOGE was skyrocketing almost 12 higher after Elon Musk’s deal to purchase Twitter closed Read more about Musk’s Twitter takeover here Dogecoin regained the 200 day simple moving average SMA on Friday which Benzinga called out on Thursday Bitcoin and Ethereumwere 17 and 8 respectively under the 200 day SMA but are settling into bull flag patterns which could help the two apex cryptos to gain ground over the weekend The bull flag pattern is created with a sharp rise higher forming the pole which is then followed by a consolidation pattern that brings the stock lower between a channel with parallel lines or into a tightening triangle pattern For bearish traders the trend is your friend until it s not and the stock may continue downwards within the following channel for a short period of time Aggressive traders may decide to short the stock at the upper trendline and exit the trade at the lower trendline Bullish traders will want to watch for a break up from the upper descending trendline of the flag formation on high volume for an entry When a stock breaks up from a bull flag pattern the measured move higher is equal to the length of the pole and should be added to the lowest price within the flag A bull flag is negated when a stock closes a trading day below the lower trendline of the flag pattern or if the flag falls more than 50 down the length of the pole Want direct analysis Find me in the BZ Pro lounge Click here for a free trial The Bitcoin Chart Bitcoin’s 9 surge during Tuesday and Wednesday paired with Thursday and Friday’s consolidation mayhave settled the crypto into a bull flag pattern on the 24 hour chart If the pattern becomes recognized the measured move could take the crypto up toward the 22000 mark Traders and investors can watch for Bitcoin to break up from the upper descending trendline of the flag on higher than average volume to indicate the pattern was recognized If the crypto falls under the eight day exponential moving average the pattern will be negated Bitcoin has been trading in an uptrend since Oct 21 with the most recent higher high formed on Wednesday at 21022 and the most recent confirmed higher low printed at the 19240 mark on Tuesday If Bitcoin breaks down from the flag formation bullish traders will want to see the crypto form a bullish reversal candlestick such as a doji or hammer candlestick above 19300 forconfidence the uptrend will continue Bitcoin has resistance above at 21313 and 22720 and support below at 19915 and 17580 The Ethereum Chart Like Bitcoin Ethereum looks to have settled into a bull flag between Tuesday and Friday with the pole forming over the first two days of the time period and the flag forming over the days that followedThe measured move if Ethereum s bull flag is recognized is 195 which indicatesthe crypto could soar toward 1770 Ethereum is also trading in a confirmed uptrend pattern with the most recent higher low created on Monday at 1324 and the most recent confirmed higher high formed at the 1595 mark on Wednesday If Ethereum breaks up through the bull flag pattern Friday’s low of day may mark the next higher low within the uptrend Ethereum has resistance above at 171741 and 195724 and support below at 142180 and 1245 Click here for tickets and information for Benzinga s Future of Crypto conference on Dec 7 in New York City The Dogecoin Chart After consolidating on smaller timeframes under the 200 day SMA during Thursday’s 24 hour session Dogecoin regained the level Friday morning From a technical standpoint Dogecoin is now enjoying a bull cycle but it’s not clear how long the sentiment will last Dogecoin started an uptrend on Oct 13 but hasn’t formed a higher low since Oct 21 when the crypto bounced up off the 0057 mark Eventually Dogecoin will retrace lower to print its next higher low and when that happens bullish traders will want to see a reversal to the upside take place above or on the 200 day SMA Dogecoin has seen far above average volume over the last three 24 hour trading periods which indicates a high amount of interest in the crypto As of Friday afternoon Dogecoin’s volume was measuring in at about 115 billion on Coinbase compared to the 10 day average of 27595 million Dogecoin has resistance above at 0083 and 0099 and support below at 0075 and 0067 See AlsoDogecoin s Price Increased More Than 9 Within 24 hours Photo Shutterstock

Gold bull Peter Schiff recently took to Twitter to point out that the Bitcoin CRYPTO BTC HODL gang often accuses him of not understanding BTC What Happened Schiff states that he actually understands Bitcoin much better than those who own it and that s the reason why he is not a part of thatgroup Crypto investors have quickly embraced HODL as an acronym for Hold On for Dear Life a rallying cry for those who choose not to sell during bear markets The Bitcoin HODL gang accuses me of not understanding Bitcoin They think that if I just took the time to learn about the underlying technology that I would embrace it But the truth is that I understand Bitcoin much better than the people who own it That s the reason I don t— Peter Schiff PeterSchiff December 22 2022 Stephen Livera a prominent Bitcoin Bull in response saidNo you really don t get it You were skeptical of Bitcoin at 1750 So you can only justify a victory lap when it goes below 1750 There s no better technology or movement that will advance liberty more than Bitcoin he said See More Best Crypto Day Trading Strategies Another Bitcoin bull William Cooper said “I think it is just understand ing what makes good money not so much the technology I don t why you don t think bitcoin makes good money Even if you don t like bitcoin though I think you actually make good cases for it regardless” I think it is just understand what makes good money not so much the technology I don t why you don t think bitcoin makes good money Even if you don t like bitcoin though I think you actually make good cases for it regardless— william cooper willycooper December 23 2022 Earlier this week Schiff kicked off a fierce debate on Bitcoin maximalist Michael Saylor adding BTC to MicroStrategy s NASDAQMSTR balance sheet Schiff said this was a Hail Mary move meant to prevent the company s collapse On the other hand Bitcoin supporters countered that the decision of holding Bitcoin in a portfolio was sound For the first time I heard saylor admit that adding Bitcoin to the MicroStrategy balance sheet was basically a Hail Mary to avoid liquidating the company If the only thing MSTR has going for it is a leveraged speculative position in Bitcoin than it has nothing going for it— Peter Schiff PeterSchiff December 20 2022 Price Action At the time of writing Bitcoin was trading at 16842 up 002 in the last 24 hours according to Benzinga Pro data Read Next Bitcoin Ethereum Muted Dogecoin Spikes No Signs Of Santa Claus Rally As Analyst Says Tech Rout Behind Risk Off Mood

A whale with a lot of money to spend has taken a noticeably bullish stance on Boeing Looking at options history for Boeing NYSEBA we detected 12 strange trades If we consider the specifics of each trade it is accurate to state that 50 of the investors opened trades with bullish expectations and 50 with bearish From the overall spotted trades 3 are puts for a total amount of 122166 and 9 calls for a total amount of 292642 What s The Price Target Taking into account the Volume and Open Interest on these contracts it appears that whales have been targeting a price range from 2000 to 2200 for Boeing over the last 3 months Volume Open Interest Development Looking at the volume and open interest is an insightful way to conduct due diligence on a stock This data can help you track the liquidity and interest for Boeing s options for a given strike price Below we can observe the evolution of the volume and open interest of calls and puts respectively for all of Boeing s whale activity within a strike price range from 2000 to 2200 in the last 30 days Boeing Option Volume And Open Interest Over Last 30 Days Biggest Options Spotted Symbol PUTCALL Trade Type Sentiment Exp Date Strike Price Total Trade Price Open Interest Volume BA PUT SWEEP BEARISH 061623 20500 648K 47K 71 BA CALL TRADE BULLISH 051923 21000 640K 19K 72 BA CALL TRADE BULLISH 041423 20000 417K 270 30 BA CALL SWEEP NEUTRAL 051923 22000 294K 27K 81 BA PUT SWEEP BEARISH 061623 22000 290K 716 37 Where Is Boeing Standing Right Now With a volume of 1039526 the price of BA is up 138 at 21396 RSI indicators hint that the underlying stock may be approaching overbought Next earnings are expected to be released in 26 days What The Experts Say On Boeing Wells Fargo has decided to maintain their Overweight rating on Boeing which currently sits at a price target of 230 Options are a riskier asset compared to just trading the stock but they have higher profit potential Serious options traders manage this risk by educating themselves daily scaling in and out of trades following more than one indicator and following the markets closely If you want to stay updated on the latest options trades for Boeing Benzinga Pro gives you real time options trades alerts

Bilibili Inc shares jumped in Hong Kong on Wednesday extending an overnight Wall Street rally as investors welcomed its better than expected quarterly results Shares of the Chinese internet giant have gained as much as 13 on Wednesday and shares were last up 96 at 11900 Hong Kong dollars US1524 The company s Nasdaq listed stock soared 22 overnight to settle at US1540 The sharp upturn came after Bilibili posted a smaller than feared net loss for the third quarter while revenue growth also beat expectations Analysts say the improvement trend in Bilibili s bottom line could extend into the coming months but revenue is likely to remain under pressure given a worsening economy amid China s winter Covid outbreaks Bilibili has said it will shift its strategic focus to narrowing losses amid a challenging environment Citi analysts said in a note Thus we expect loss to further narrow in the fourth quarter However Citi called the company s fourth quarter revenue guidance unexciting and flagged likely further deterioration in Bilibili s advertising business into the year s end as businesses cut promotional budgets amid muted consumer spending The bank cut its target price on Bilibili s US traded shares to US1550 from US1200 and maintained a neutral rating

Traders work on the floor of the New York Stock Exchange NYSE in New York Stock futures are flat Wednesday night as investors await new inflation data and eye election results Futures connected to the Dow Jones Industrial Average were up 14 points or 004 SP 500 futures were up 002 while Nasdaq 100 futures added 01 It follows a day of losses with the Dow dropping 64689 points or 195 The Nasdaq Composite and SP 500 shed nearly 25 and about 21 respectively The declines came amid uncertainty stemming from US midterm elections The market had hoped Republicans would take sweeping control of the House of Representatives and the Senate on Tuesday – a situation that would create gridlock in Washington DC Instead key Senate races in Arizona Georgia and Nevada remain tightly contested Indeed the Senate race between Raphael Warnock the Democratic incumbent and Herschel Walker will head to a December runoff Stocks suffering worsened late Wednesday after crypto exchange Binance said it s backing out of plans to acquire its rival FTX This dragged down the tech sector and pulled bitcoin s price to lows last seen in 2020 Lack of clarity around the election as well as uncertainty around incoming October consumer price index data and corporate earnings reports were the drivers around the selloff said Chris Zaccarelli chief investment officer at the Independent Advisor Alliance Those three things are leading to uncertainty he said And as everyone knows markets really don t like uncertainty October s CPI report due Thursday at 830 am ET is the next focal point for investors Economists polled by Dow Jones expect that headline CPI rose in October by 06 from September or 79 over a year ago It s a key report for the Federal Reserve which will meet again in mid December Weekly jobless claims are also due out on Thursday morning Aurora Cannabis and NIO the Chinese electric vehicle maker are set to report earnings

Tech companies including Microsoft Corp were among the stock market’s few bright spots Wednesday as investors digested corporate earnings that offered mixed messages about the state of the US economy Major indexes on Wednesday morning clawed back some of the previous day’s losses before edging lower leading to the closing bell The technology heavy Nasdaq Composite rose 05 while the SP 500 dipped 04 and the Dow Jones Industrial Average ticked 07 or 229 points lower Those declines spanned trucking firms energy producers and regional banks Tech was the only sector in the SP 500 to notch gains Wednesday according to FactSet climbing 17 The darkening outlook which comes as corporate earnings season kicks into high year contrasts with most companies reporting first quarter performances that beat Wall Street’s expectations In the SP 500 roughly 80 of the 163 firms that reported earnings as of Wednesday morning had outpaced analysts’ projections according to Refinitiv Part of the gloom stems from an emerging consensus that the Federal Reserve will continue raising rates next week Investors are giving a roughly 75 probability that the central bankers will vote for another rate hike according to CME Group a move aimed at discouraging lending to businesses and consumers “That influences the economy which then ripples through and influences earnings” said Jason Pride chief of investment strategy and research at Glenmede Already companies from Google parent Alphabet Inc to shipping giant United Parcel Service Inc have warned investors of petering US growth But hiring has remained robust and the US service sector has proven resilient despite softening manufacturing activity and declining home sales The slowdown “is taking so long to play out that it’s not fully reflected in the market” Mr Pride added On Wednesday technology firms largely shielded investors from steeper losses Microsoft was the Dow’s best performing stock jumping 72 after reporting continued growth in its cloud computing business and as the UK rejected its takeover attempt of game developer Activision Blizzard Inc Shares in the “Call of Duty” developer dropped 11 after the UK antitrust watchdog raised a major hurdle to global approval of the 75 billion deal Other big tech stocks were mixed as investors weighed new initiatives such as artificial intelligence against an uncertain economic outlook Shares in Alphabet dipped 01 Wednesday after the company reported a second consecutive quarter of declining ad sales Amazoncom Inc which is slated to report its first quarter results on Thursday rose 23 Facebook owner Meta Platforms Inc traded 09 higher in the lead up to its earnings release after the close “It’s reassuring for a lot of investors that tech earnings have been better” Chris Beauchamp chief market analyst at IG Group “But you want to see other parts of the SP 500 pick up You need more than tech” In other sectors executives said that the Fed’s attempt to cool inflation was beginning to take hold contributing to investors pulling back from those stocks Shares in solar energy manufacturers slid Wednesday after Enphase Energy Inc warned of waning appetite for investment in such systems Enphase plunged 26 making it one of the SP 500’s worst performers “The demand will unleash only when the interest rates are back to normal” CEO Badrinarayanan Kothandaraman told analysts US central bankers have signaled that another rate increase is on the table next week even amid growing fears of a recession and stress on regional banks Some analysts said they believe regional banking stress in recent weeks is symptomatic of the Fed’s rate hikes rather than a systemic problem for the financial sector Shares in First Republic Bank on Wednesday tumbled 30 extending a sharp selloff and leaving the beleaguered San Francisco bank with a market cap around 1 billion PacWest Bancorp meanwhile jumped 75 Executives at Old Dominion Freight Line cited confusion from the banking sector fallout as one reason customers have tapped the brakes on moving goods around the country this year Old Dominion’s stock fell 10 Wednesday following similarly disappointing results by other shipping companies that have been punished by a steep dropoff in imports The freight slowdown has led diesel costs to plunge from last year’s record and weighed on US crude prices Benchmark futures slid 36 Wednesday to 7430 pulling down shares in Texas drillers oil field service firms major fuel producers and international oil majors “Certainly it’s been difficult to read the tea leaves this year” Old Dominion Chief Financial Officer Adam Satterfield said on a call with analysts Wednesday Write to David Uberti at davidubertiwsjcom and Chelsey Dulaney at chelseydulaneywsjcom

Shares of Crocs Inc NASDAQCROX moved higher by 3177 in the past three months Before having a look at the importance of debt let s look at how much debt Crocs has Crocs Debt Based on Crocs s financial statement as of February 16 2023 long term debt is at 230 billion and current debt is at 2436 million amounting to 232 billion in total debt Adjusted for 19163 million in cash equivalents the company s net debt is at 213 billion Let s define some of the terms we used in the paragraph above Current debt is the portion of a company s debt which is due within 1 year while long term debt is the portion due in more than 1 year Cash equivalents includes cash and any liquid securities with maturity periods of 90 days or less Total debt equals current debt plus long term debt minus cash equivalents Shareholders look at the debt ratio to understand how much financial leverage a company has Crocs has 450 billion in total assets therefore making the debt ratio 052 As a rule of thumb a debt ratio more than 1 indicates that a considerable portion of debt is funded by assets A higher debt ratio can also imply that the company might be putting itself at risk for default if interest rates were to increase However debt ratios vary widely across different industries A debt ratio of 35 might be higher for one industry but average for another Why Debt Is Important Debt is an important factor in the capital structure of a company and can help it attain growth Debt usually has a relatively lower financing cost than equity which makes it an attractive option for executives However interest payment obligations can have an adverse impact on the cash flow of the company Having financial leverage also allows companies to use additional capital for business operations allowing equity owners to retain excess profit generated by the debt capital Looking for stocks with low debt to equity ratios Check out Benzinga Pro a market research platform which provides investors with near instantaneous access to dozens of stock metrics including debt to equity ratio Click here to learn more This article was generated by Benzinga s automated content engine and reviewed by an editor

The market has shown resilience this yeardefying economic uncertaintiessurrounding growth and interest rates On The Rise The SP 500 a broad market gauge concluded 2022 with a 194 decline at 383950 with technology stocks leading the retreat At the beginning of this year analysts held limited optimism about the index surpassing these levels Some even predicted a lower end to 2023 compared to the previous year Data from Hedge Vision revealed that the average price target set by 23 analystseconomists for the SP 500 at the start of the year was 4080 The most bullish forecast came fromTom LeeofFundstrat who predicted a year end index value of 4750 suggesting a 237 upside Greg BoutleofBNP Paribashad the most conservative estimate at 3400 indicating an 115 decline Interestingly only three of the 23 analysts had price targets above the SP 500’s current levels The index closed Thursday’s session at 439644 up 045 The SPDR SP 500 ETF Trust NYSESPY which tracks the index’s performance ended Thursday at 43811 up 039 according todata from Benzinga Pro See AlsoHow To Invest In Startups Driving the Rally The market has largely disregarded the Federal Reserve’s warnings of more rate hikes and has priced in the unwinding of the aggressive rate hikes implemented since March 2022 Despite the cumulative impact of the rate hikes pockets of strength have emerged in the economy The labor market remains robust and consumer spending has held up well although concerns persist in commercial real estate and housing markets Corporate profits have also fared better than expected thanks in part to the positive impact of artificial intelligence technology Big tech companies such asNvidia CorpNASDAQNVDA and other AI focused firms have capitalized on this momentum Furthermore the government and central bank’s readiness to intervene in times of concern as demonstrated during the regional banking crisis has bolstered risk appetite What’s Next While analysts hold divergent views on the market outlook there is a consensus for a strong finish to the year Most agree that October 2022 marked the bottom of the bear market and anticipate a continued upward trajectory Savita SubramanianofBofA who initially set a 4000 SP 500 target for the year recently raised it to 4300 She bases her optimism on companies shifting focus toward efficiency automation and AI instead of relying on cost cuts and stock buybacks for profits On the other end of the spectrum isMike WilsonofMorgan Stanley who believes the current upside is a bear market rally and warns of an imminent major market correction The market’s near term trajectory will likely be influenced by the rate trajectory with a Fed pivot dependingon inflation slowingtoward the central bank’s target Traders will closely monitor incoming economic data and the Fed’s commentary as they make their next moves Read Next How To Earn 500 A Month From SPY Stock