Clean Harbors Stock: From Nothing Into Our Top Holding (NYSE:CLH)
==========

Clean Harbors, Inc. (CLH) is the largest hazardous waste management company in the US. They own and operate nine incinerators and eight landfills, which have limited new supply due to complex permitting processes and high construction costs. CLH has vertically integrated operations that allow them to control waste from collection through transportation and disposal. They have a proven history of managing waste properly and offer a wide range of services. CLH is currently trading at a meaningful discount to their peers, with a consensus EBITDA multiple of 10.6x for 2025. If margins were to increase another 500bps, consolidated EBITDA would be 20% above consensus and the multiple would fall to <9x. The author believes that CLH's market positioning, essential service offering, and barriers to entry warrant a higher valuation.

#CleanHarbors #Clh #HazardousWasteManagement #WasteIndustry #MarketPositioning #Valuation

https://seekingalpha.com/article/4684876-clean-harbors-stock-from-nothing-into-our-top-holding


Business Conditions Monthly February 2024
==========

The AIER Business Conditions Monthly for February 2024 shows divergent signals in the leading, roughly coincident, and lagging indicators. The Leading Indicator rose from 67 to 75, suggesting sustained moderate growth. The Roughly Coincident Indicator remained at 75, indicating relative stability of moderate growth. The Lagging Indicator fell to 33, suggesting moderate contraction. The March industrial production report exceeded expectations, with manufacturing production showing unexpected strength. The employment landscape is divergent, with sectors benefiting from asset appreciation showing robust employment gains while other sectors experience reduced demand. Nonfarm payrolls data indicate robust growth, but the household survey suggests a cooling labor market. The March Consumer Price Index data indicates stalled progress on disinflation. Policymakers may need to reassess the economy's capacity to absorb low-skilled migrants. Market-implied policy rate markets have downgraded their forecast for rate cuts in 2024. Pockets of strength in the economy are overshadowed by inflation concerns and uncertainty about monetary policy actions. Classic indicators of recession signal a downturn within the next 12 months. The AIER is a non-profit economic research organization that promotes personal freedom, free enterprise, limited government, and sound money.

#BusinessConditions #EconomicIndicators #LeadingIndicator #RoughlyCoincidentIndicator #LaggingIndicator #IndustrialProduction #Employment #Inflation #MonetaryPolicy #Recession

https://seekingalpha.com/article/4684853-business-conditions-february-2024


Economic Warning From The NFIB
==========

The latest National Federation of Independent Business (NFIB) survey showed a decline in small business confidence, reaching its lowest level in 11 years. This decline is seen as an economic warning and is in contrast to more robust government reports on economic growth and employment. The survey revealed that small business owners are facing challenges due to higher interest rates and tighter lending standards, making it more difficult for them to access capital. As a result, their plans for capital expenditures have dropped to the lowest level since the pandemic-driven shutdown. Additionally, concerns about poor sales and the cost of labor are rising among small business owners, indicating a lack of demand and potential economic slowdown. The decline in sales expectations and actual sales of small businesses suggests weaker retail sales and slower economic growth. These economic warnings from the NFIB survey should not be dismissed and could explain why the Federal Reserve is considering cutting rates.

#Nfib #SmallBusiness #EconomicWarning #InterestRates #CapitalExpenditures #Sales #Employment #EconomicGrowth

https://seekingalpha.com/article/4684852-economic-warning-from-nfib


INDO, IPDN and GSUN among mid-day movers
==========

INDO, IPDN, and GSUN are among the mid-day movers in the stock market. Gainers include Top Wealth Group Holding Limited, Mobile health Network Solutions, Next.e.GO N.V., Tungray Technologies, AGBA Group Holding Limited, Zhongchao, Redwoods Acquisition Corp, Indonesia Energy Corp Ltd, and Metropolitan Bank Holding Corp. Losers include Tritium DCFC Limited, Connexa Sports Technologies, Sunshine Biopharma, Professional Diversity Network, Graphjet Technology, Golden Sun Health Technology Group Ltd, Expion360, AEON Biopharma, and Super Micro Computer.

https://seekingalpha.com/news/4091568-indo-ipdn-and-gsun-among-mid-day-movers


Federal Reserve won't have leeway to cut rates until year's end, Bostic says
==========

Atlanta Fed President Raphael Bostic stated that the Federal Reserve is unlikely to cut interest rates until the end of the year, as inflation is still above the 2% target. Bostic mentioned that the pathway to 2% inflation will be slower and bumpier than expected. He expressed comfort in being patient due to the strength of the economy and labor market. Bostic also noted that the U.S. economy has outperformed its developed-nation peers, attributing it to a strong fiscal response.

#FederalReserve #InterestRates #Inflation #UsEconomy #RaphaelBostic

https://seekingalpha.com/news/4091127-federal-reserve-wont-have-leeway-to-cut-rates-until-years-end-bostic-says


U.S. natural gas inventory net change of +50 Bcf for week ended April 12 (NG1:COM)
==========

The U.S. Energy Information Administration (EIA) reported a net change of +50 Bcf in natural gas inventory for the week ended April 12, 2024. This is compared to a net change of +24 Bcf for the previous week. The consensus estimate for net change was +54 Bcf. Total working gas stocks were 2,333 Bcf, which is 50 Bcf higher than the previous week and 622 Bcf above the five-year average of 1,711 Bcf. Stocks were also 424 Bcf higher than the same time last year. The current inventory level is above the five-year historical range. The EIA's Weekly Natural Gas Storage Report provides more details.

#NaturalGas #Inventory #Eia #Energy

https://seekingalpha.com/news/4091067-us-natural-gas-inventory-net-change-of-50-bcf-for-week-ended-april-12-eia


U.S. Leading Indictor Index renews decline in March after 'ephemeral' rise
==========

The U.S. Leading Indicator Index declined by 0.3% to 102.4 in March, following a 0.2% increase in February. The decline was driven by negative contributions from the yield spread, new building permits, consumers' outlook on business conditions, new orders, and initial unemployment insurance claims. Over the six-month period between September 2023 and March 2024, the index retreated by 2.2%, a smaller decrease than the 3.4% slump over the prior six months. The Conference Board expects U.S. GDP growth to moderate over Q2 and Q3 due to rising consumer debt, elevated interest rates, and persistent inflation pressures.

#UsLeadingIndicatorIndex #UsEconomy #ConferenceBoard #GdpGrowth #ConsumerDebt #InterestRates #InflationPressures

https://seekingalpha.com/news/4091048-us-leading-indictor-index-renews-decline-in-march-after-ephemeral-rise


Google, Microsoft, OpenAI to introduce new features to boost AI spending: report
==========

Google, Microsoft, and OpenAI are planning to introduce new software features to boost spending on artificial intelligence. Microsoft is working on automating tasks such as sending and tracking invoices, as well as rewriting code for applications. Google, through its DeepMind unit, is developing AI agents to complete tasks, and OpenAI is also working on similar agents. Microsoft may announce the new features at its Build developer conference in May. Both Microsoft and Google are expected to report their quarterly results on April 25.

https://seekingalpha.com/news/4091025-google-microsoft-openai-to-introduce-new-features-to-boost-ai-spending-report


Initial jobless claims unchanged at 212K, lower than expected
==========

Initial jobless claims for the week ended April 13 were unchanged at 212K, lower than the expected 215K consensus. The previous week's tally was revised to 212K prior from 211K. The four-week moving average was 214,500, unchanged from the prior week's average, which was revised from 214,250. Continuing claims rose by 2K to 1.812M vs. the expected 1.818M and the previous week's 1.810M (revised from 1.817M). The advance seasonally adjusted insured unemployment rate was 1.2% for the week ended April 6, down from the previous week's rate of 1.3%. The Department of Labor reported these figures on April 18, 2024.

#InitialJoblessClaims #Unemployment #UsEconomy

https://seekingalpha.com/news/4090962-initial-jobless-claims-unchanged-at-212k-lower-than-expected


Snapchat surges as TikTok bill on potential fast track through Congress
==========

Snapchat's stock surged following news that a proposed bill forcing TikTok to divest from ByteDance or face a U.S. ban might get fast-tracked through Congress. House Speaker Mike Johnson plans to include the TikTok bill in a fast-track package that includes aid for Ukraine and Israel. The U.S. House of Representatives passed a bill in March that would require TikTok to divest from ByteDance within six months if it became law. Meta's Instagram Reels and YouTube Shorts would likely gain if TikTok was banned in the U.S.

#Snapchat #Tiktok #StockMarket #Congress

https://seekingalpha.com/news/4090645-snapchat-jumps-as-tiktok-bill-on-potential-fast-track-through-congress


U.S. dollar rally accelerates amid speculation of Fed delaying rate cuts (DXY)
==========

The U.S. dollar rally is gaining momentum as financial markets speculate that the Federal Reserve will delay rate cuts. The U.S. Dollar Index (DXY) has edged up 0.1% to the highest level since November 2023, with year-to-date gains of 4.9%. Traders have pushed out their expectations for the first U.S. rate cut to September, following inflationary economic data that raise doubts about the Fed's accommodative stance. Other central banks have already started to ease monetary policy, creating yield differentials between the U.S. and other developed nations. The stronger U.S. dollar could tighten conditions and lead to lower earnings estimates for multinational companies. The rally may also bring the stock market off its lofty valuation as multiples contract.

#UsDollar #FederalReserve #RateCuts #UsDollarIndex #Inflation #MonetaryPolicy #YieldDifferentials #StockMarket

https://seekingalpha.com/news/4090159-us-dollar-rally-accelerates-amid-speculation-of-fed-delaying-rate-cuts


Medical Properties stock soars as REIT expects to top original liquidity target (NYSE:MPW)
==========

Medical Properties Trust, Inc. (MPW) stock surged 19% in Monday morning trading after the hospital REIT said it expects to exceed its initial target of $2.0B from liquidity transactions this year. The company sold a majority stake in five Utah hospitals to a newly formed joint venture for $886M, while keeping a 25% interest in the venture. The joint venture placed new non-recourse secured financing, providing $190M of additional cash to MPW. Year to date, the company has generated ~$1.5B of cash proceeds from asset sales and secured debt. The proceeds from the two deals related to the Utah properties will be used to repay a ~$300M, 2.85% Australian term loan maturing in December 2024, with the rest used to repay part of $1.5B in outstanding borrowings on MPW's revolving credit facility. The company has upcoming debt maturities: a ~$130M, 5.25% GBP term loan maturing in 2024; $1.4B of additional debt maturing in 2025; $1.7B in 2026; and $1.4B of 5% notes in 2027.

#MedicalPropertiesTrust #Reit #LiquidityTarget #Stock #JointVenture #CashProceeds #DebtMaturities

https://seekingalpha.com/news/4089657-medical-properties-stock-soars-as-reit-expects-to-top-original-liquidity-target


Euro Area industrial production rises 0.80% in February (EUR:USD)
==========

Industrial production in the Euro Area increased 0.80% in February 2024 over the previous month. Y/Y industrial production decreased 6.40% in February 2024.

#EuroArea #IndustrialProduction #Eur:usd

https://seekingalpha.com/news/4089465-euro-area-industrial-production-rises-080-in-february


Is There An AI Bubble? Ask This Instead, Plus 5 AI Stocks I Own
==========

The article discusses the potential of artificial intelligence (AI) and addresses the question of whether there is an AI bubble. It highlights the tendency to underestimate the impact of new technology and provides examples of historically bad predictions. The article then presents a basket of AI stocks that the author owns, including Arm Holdings, UiPath, Palantir Technologies, and Marvell Technology. It provides reasons to consider investing in each of these companies and discusses their financial performance. The author emphasizes the importance of caution, diversification, and long-term investment goals. The article concludes by suggesting that the question to ask is not whether there is an AI bubble, but rather what inning we are in.

#AiBubble #TechnologyPredictions #AiStocks #ArmHoldings #Uipath #PalantirTechnologies #MarvellTechnology

https://seekingalpha.com/article/4683484-is-there-an-ai-bubble-ask-this-instead-plus-4-ai-stocks-i-own


S&P 500: A New Phase, Week Starting 15th April (Technical Analysis)
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The S&P 500 has broken its trend channel and its 20dma, signaling a new correctional phase is underway. "Higher for longer" rate expectations are back. However, it is very probable the S&P500 can still make new all-time highs later this year. The correction is therefore a buying opportunity. The monthly chart suggests a decline will be a buy for 5300 at some point. The weekly chart supports the view that a weak high has been made. The daily chart indicates a new correctional phase and the big question is whether this will be another small correction or a larger degree decline to 4818. The near-term path is likely lower and 5048-5056 could be tested in Q2. The higher timeframes have a weak high and a move above 5264.85 is still probable this year. The author is Andrew McElroy, an independent trader since 2009 and Chief Analyst at Matrixtrade.

#S&p500 #TechnicalAnalysis

https://seekingalpha.com/article/4683630-s-and-p-500-a-new-phase-week-starting-15th-april-technical-analysis


Legacy Housing: Getting Ready For A Comeback
==========

Legacy Housing Corp. has experienced a drop in share price after a disappointing financial report and Wall Street downgrades. The company reported a decline in product sales but highlighted areas of financial growth and strategic plans for expansion. Legacy Housing's loan portfolio remains healthy, with an increase in consumer and community operator loans, indicating the importance of this segment for the company's revenue. LEGH shares rallied nearly 20% since May 2023 but dropped after the latest financial report. The company reported a decline in product sales in 2023, partly due to a decrease in net revenue per unit sold and a decrease in unit volumes. However, management explained that the decrease was not driven by price concessions, indicating pricing power. Legacy Housing's loan portfolio, which includes consumer and community operator loans, continues to perform well. The company has been cutting costs and ended the year with a book value of $436.7 million. Legacy Housing is expanding its company-owned stores and adding financing products. The company sells about 10% of its production through its company-owned stores. The industry downturn has affected Legacy Housing, but the company is taking steps to capture a bigger share of the retail margin. The author advises investors to keep an eye on LEGH and buy if it crosses $22.00.

#LegacyHousingCorporation #HousingIndustry #FinancialReport #WallStreetDowngrades #ProductSales #FinancialGrowth #StrategicPlans #LoanPortfolio #ConsumerLoans #CommunityOperatorLoans #PricingPower #Costs #BookValue #CompanyownedStores #FinancingProducts #IndustryDownturn #RetailMargin

https://seekingalpha.com/article/4683706-legacy-housing-getting-ready-for-a-comeback


Ways To Maximize Your Retirement With BDCs And REITs
==========

The article discusses ways to maximize retirement income with Business Development Companies (BDCs) and Real Estate Investment Trusts (REITs). It highlights the opportunity to buy discounted stocks in the REIT sector due to high inflation and the expectation of higher interest rates. It suggests dollar-cost averaging and utilizing dividend reinvestment plans as strategies to take advantage of the current market conditions. The article emphasizes the importance of focusing on quality over quantity when investing in REITs and BDCs, looking for strong balance sheets and low non-accrual rates. It also advises investors to consider taking profits and diversifying their investments. The author, The Dividend Collectuh, is a Navy veteran and dividend investor who aims to supplement retirement income with dividends.

#Retirement #Bdcs #Reits #DividendInvesting #InterestRates

https://seekingalpha.com/article/4683676-ways-to-maximize-your-retirement-with-bdcs-and-reits


FTC leaning toward lawsuit to block Tapestry's $8.5B purchase of Capri - report
==========

The Federal Trade Commission (FTC) is leaning toward filing a lawsuit to block Tapestry's planned $8.5 billion acquisition of Capri Holdings. The FTC is expected to vote on the transaction this month. The Capri/Tapestry deal received a request for more information from the FTC in November. The European Commission is also considering whether to move its investigation of the transaction into an in-depth review. Capri Holdings shares have dropped 11% in the last three days. Tapestry struck a deal in August to acquire Capri for $57.00 per share in cash. The potential FTC lawsuit comes as the regulator has been vigilant about antitrust enforcement under the Biden administration. Amazon CEO Andy Jassy believes regulators may be acting outside the boundaries of the law in some recent matters.

#Ftc #Tapestry #CapriHoldings #AntitrustEnforcement

https://seekingalpha.com/news/4089414-ftc-leaning-toward-suing-to-block-tapestrys-planned-purchase-of-capri-report


ETF Analysis: Do Historical Returns Predict Future Returns?
==========

This article analyzes the predictive ability of historical returns for ETFs. It ranks small-cap, mid-cap, and large-cap ETFs by their one-year, three-year, and five-year returns and evaluates how well they performed afterward. The analysis shows that one-year, three-year, and five-year trailing returns are not good predictors of future results, except for large-cap growth ETFs. The article recommends focusing on the fundamental strengths and weaknesses of an ETF's underlying portfolio rather than relying solely on past performance.

#Etfs #HistoricalReturns #FutureReturns #Smallcap #Midcap #Largecap #GrowthEtfs

https://seekingalpha.com/article/4683618-etf-analysis-do-historical-returns-predict-future-returns


Wedgewood Partners Q1 2024 Client Letter
==========

Wedgewood Partners is a money manager founded in 1988. The S&P 500 Index gained +10.5% during Q1 2024. Top performance contributors for the quarter include Meta Platforms, Taiwan Semiconductor Manufacturing, Tractor Supply, Edwards Lifesciences, and Copart. The U.S. economy has adjusted well to the post-ZIRP financial environment. Market expectations have changed, with growing expectations that the Federal Reserve might not cut the Federal Funds Rate this year. The Magnificent Seven stocks (Alphabet, Amazon, Apple, Meta Platforms, Microsoft, NVIDIA, and Tesla) continue to perform well. PayPal's stock has experienced negative sentiment, but the company's fundamentals remain strong. The U.S. economy is on cruise control and has adjusted well to the post-ZIRP financial environment. The market is experiencing a growing expectation that the Federal Reserve might not cut the Federal Funds Rate this year. The Magnificent Seven stocks continue to perform well. PayPal's stock has experienced negative sentiment, but the company's fundamentals remain strong. The U.S. economy is on cruise control and has adjusted well to the post-ZIRP financial environment. The market is experiencing a growing expectation that the Federal Reserve might not cut the Federal Funds Rate this year. The Magnificent Seven stocks continue to perform well. PayPal's stock has experienced negative sentiment, but the company's fundamentals remain strong.

#Investment #StockMarket #Economy #FederalReserve #TechnologyStocks #Paypal

https://seekingalpha.com/article/4683621-wedgewood-partners-q1-2024-client-letter


Intel's foundry is 'fully dependent' on its design team. That's a red flag, BofA says.
==========

Intel's foundry unit is 'fully dependent' on its internal design team, which is seen as a red flag by Bank of America. The future of Intel is tied to CEO Pat Gelsinger's vision to turn the company into a semiconductor foundry and compete with Taiwan Semiconductor and others. However, the foundry unit's reliance on Intel's internal design team makes the whole company worth less. Intel's foundry business had a $7 billion operating loss on revenues of $18.9 billion in 2023, wider than the $5.2 billion loss in 2022. Intel has fallen behind its peers in various aspects, including the data center market. Other foundry companies, such as Taiwan Semiconductor and Samsung, are quickly emerging in the US with support from the Biden administration. Intel's new Gaudi3 accelerator is not expected to make a significant impact. Taiwan Semiconductor received $6.6 billion in grants and loans, while Samsung is expected to receive between $6 billion and $7 billion. Potential positive catalysts for Intel include the recovery in the PC market, a Windows 10 refresh, AI-focused PCs, and an improvement in foundry profitability and new customers.

https://seekingalpha.com/news/4089279-intels-foundry-is-fully-dependent-on-its-design-team-thats-a-red-flag-bofa-says


Ensemble Capital Management Q1 2024 Letter
==========

Ensemble Capital Management, LLC is based in Burlingame, California and offers customized portfolio management and philanthropic solutions. The firm's strategy produced returns in line with the S&P 500 this quarter after outperforming the market in the previous quarter. The market staged a significant rally in the first quarter of 2024, with gains of 10.56%. The rally has been powered by the fading of recession and inflation worries. The firm believes that for significant additional market gains to be justified, there needs to be a significant increase in corporate earnings in 2024 and 2025. The six largest companies in the S&P 500 are Microsoft, Apple, Nvidia, Amazon, Google, and Nike. Perimeter Solutions, a company that sells fire retardant, was the best performing stock in the firm's portfolio this quarter. The company's long-term partnership with government agencies and its monopoly position in the market are seen as key factors for its success. Notable detractors from the firm's performance came from investments in Nike, Broadridge, and First American Financial. Netflix, Perimeter Solutions, and Ferrari were notable contributors to the firm's performance. IDEX Corporation, a serial acquirer, is seen as a potential positive catalyst for the firm's future performance.

#EnsembleCapitalManagement #PortfolioManagement #S&p500 #MarketRally #CorporateEarnings #TopCompanies #PerimeterSolutions #StockPerformance #IdexCorporation

https://seekingalpha.com/article/4683595-ensemble-capital-management-q1-2024-letter


Federal Reserve Policy Rate Path: An Evolving Picture
==========

Stubbornly strong economic data has led to significant shifts in market expectations for when, and how quickly, the Federal Reserve will begin cutting policy rates. Financial market expectations have now shifted from six rate cuts to just two cuts this year. Our own forecast is now for the first rate reduction to come in September, but the complications of starting an easing cycle just before the U.S. Presidential election does insert significant uncertainty. Chair Powell has made it abundantly clear that he wants to cut rates this year. The Fed continues to expect 75 basis points of cuts this year. Assuming the resumption of 2023's disinflation trend, we have revised our forecast from three cuts to two cuts in 2024, with the first reduction coming in September. There is a significant risk to this forecast - November's U.S. Presidential election - commencing a rate cutting cycle immediately ahead of November's elections may be a bridge too far for the Fed.

https://seekingalpha.com/article/4683557-federal-reserve-policy-rate-path-an-evolving-picture-quick-takes-on-capital-markets


Atlanta Fed's Bostic still sees one rate cut this year
==========

Atlanta Fed President Raphael Bostic expects the central bank to make one rate cut by the end of the year. He believes the economy will continue to grow and inflation will fall, but at a slower pace. However, his outlook may change if circumstances warrant. Bostic emphasized the need to improve housing affordability and suggested increasing supply by exploring options such as manufactured homes and relaxing zoning laws. He highlighted that the median-priced home in the U.S. requires a household with a median income of $75,000 to spend 41% of that amount, exceeding the standard affordability threshold of 30%.

#FederalReserve #InterestRates #HousingAffordability #RaphaelBostic

https://seekingalpha.com/news/4089339-atlanta-fed-bostic-still-sees-one-rate-cut-this-year


Consumer sentiment edges down in April as inflation expectations creep up
==========

Consumer sentiment eased in April, slipping to 77.9 from 79.4 in March, according to the University of Michigan Consumer Sentiment Index. Current Conditions: 79.3 vs. 82.2 consensus and 82.5 prior. Expectations: 77.0 vs. 77.4. Inflation expectations ticked up to 3.1%, vs. 2.9% consensus, from 2.9% prior. Five-year implied inflation expectations rose to 3.0%, vs. 2.8% consensus, from 2.8% prior. Consumers perceived little change in the state of the economy since the start of the new year. The survey results also reflect some consumer frustration over the progress in reducing inflation. Consumers are reserving judgment about the economy in light of the upcoming election.

#ConsumerSentiment #InflationExpectations #UniversityOfMichiganConsumerSentimentIndex #Economy #Survey

https://seekingalpha.com/news/4089270-consumer-sentiment-edges-down-in-april-as-inflation-expectations-creep-up


Boston Fed's Collins sees rate cut this year, but may take longer than she thought
==========

Boston Fed President Susan Collins expects a rate cut this year, but it may take longer than she initially thought. She stated that more information is needed to gain confidence in inflation's downward trajectory before easing policy. Collins advocates for a patient and holistic approach. Improvements in supply are helping the post-pandemic recovery, but demand needs to moderate for the Fed to achieve its price stability goal.

#FederalReserve #InterestRates #Inflation

https://seekingalpha.com/news/4088981-boston-feds-collins-sees-rate-cut-this-year-but-may-take-longer-than-she-thought


U.S. natural gas inventory net change of +24 Bcf for week ended April 5 - EIA
==========

The U.S. natural gas inventory for the week ended April 5, 2024, had a net change of +24 Bcf, according to the Energy Information Administration (EIA). This is compared to a net change of -37 Bcf for the previous week ended March 29, 2024. The consensus estimate for the net change was +14 Bcf. The total stock for the week ended April 5 was 2,283 Bcf, compared to 2,259 Bcf for the week ended March 29. Natural Gas Futures (NG1:COM) experienced a decrease of -3.66%. The full EIA Weekly Natural Gas Storage Report can be found on Seeking Alpha.

#NaturalGas #Inventory #Eia #NetChange #ConsensusEstimate #Stock #NaturalGasFutures #Ng1:com

https://seekingalpha.com/news/4088939-us-natural-gas-inventory-net-change-of-3-bcf-for-week-ended-april5-eia


Credit card delinquencies at record high in Q4, new mortgages appear riskier - Philly Fed
==========

Credit card delinquency rates reached their highest level on record in Q4 2023, with nearly 3.5% of credit card balances at least 30 days past due. The share of accounts making minimum payments rose to a series high, while the share of accounts making full balance payments increased. Current credit scores at the 10th and 25th percentiles of cardholders decreased to their lowest levels since Q1 2020. Mortgage originations declined to a series low in Q4, with the median front-end debt-to-income ratio and loan-to-value increasing. The data suggests a possible change in the risk approach of firms.

#CreditCardDelinquencies #Mortgages #HousingCosts #PhiladelphiaFed

https://seekingalpha.com/news/4088814-credit-card-delinquencies-record-high-new-mortgages-riskier-philadelphia-fed


Spot bitcoin ETFs could make their way to Hong Kong in April - report
==========

Hong Kong is set to greenlight the first round of applications for spot bitcoin exchange-traded funds (ETFs) next week. These ETFs allow institutional and retail traders to gain exposure to bitcoin without directly investing in the underlying asset. At least four entities, including the Hong Kong units of China Asset Management, Harvest Fund Management, and Bosera Asset Management, have submitted applications. Spot bitcoin ETFs have gained popularity in the US and Europe, with the first spot BTC ETF in Europe starting trading in August 2023. In Wednesday midafternoon trading, bitcoin was up 0.5% to $69.3K.

#Bitcoin #Etfs #HongKong

https://seekingalpha.com/news/4088704-spot-bitcoin-etfs-could-make-their-way-to-hong-kong-report


Wholesale inventories rise 0.5% in final February print
==========

Wholesale inventories in February rose 0.5% to $901.1B, compared to the initial estimate of +0.5% and a revised -0.2% in January. Year-over-year, inventories fell 1.5%. Wholesale trade sales for February were $673.7B, up 2.3% from the revised January level and +0.8% from February 2023. The inventories-to-sales ratio, based on seasonally adjusted data, was 1.34, compared to 1.37 a year before.

#WholesaleInventories #UsEconomy

https://seekingalpha.com/news/4088600-wholesale-inventories-rise-05-in-final-february-print


Syros stock jumps on FDA fast track tag for leukemia drug
==========

Shares of Syros Pharmaceuticals traded higher on Tuesday after the U.S. Food and Drug Administration (FDA) granted its fast-track designation for the company's leukemia candidate, tamibarotene. The designation covers the use of tamibarotene for newly diagnosed patients with acute myeloid leukemia aged 75 years and older, who should be under investigation for tamibarotene use in combination with chemotherapy, azacitidine, and venetoclax. The decision follows initial data from Syros' Phase 2 SELECT-AML-1, which showed no additional toxicity and a 100% response rate for tamibarotene compared to a 70% response rate for venetoclax and azacitidine. More data from SELECT-AML-1 is expected later this year. The FDA's fast-track designation allows for accelerated development and review of drugs targeted at serious conditions with unmet medical needs.

#SyrosPharmaceuticals #Fda #LeukemiaDrug #FasttrackDesignation #Tamibarotene #AcuteMyeloidLeukemia #Chemotherapy #Azacitidine #Venetoclax #Selectaml1

https://seekingalpha.com/news/4088283-syros-stock-jumps-fda-fast-track-tag-leukemia-drug


Morgan Stanley upgrades Nasdaq and LPL Financial, downgrades CBOE
==========

Morgan Stanley has upgraded Nasdaq and LPL Financial to Overweight, citing better growth prospects, while downgrading CBOE Global Markets to Equal Weight. The analysts are bullish on Nasdaq's transformation story as the company shifts to higher quality, recurring revenue streams. They see LPL Financial as an attractive play on structural trends in wealth management and shift to independent advice. Morgan Stanley's current price target for LPL Financial is $315, for Nasdaq it is $80, and for CBOE it is $199.

#MorganStanley #Nasdaq #LplFinancial #CboeGlobalMarkets #StockMarket

https://seekingalpha.com/news/4088160-morgan-stanley-upgrades-nasdaq-and-lpl-financial-downgrades-cboe


BRICS Rebellion: Plotting The End Of Dollar Dominance And U.S. Economic Power
==========

The BRICS bloc, led by Russia, is working to create an alternative payment system to reduce dependence on the US and the dollar-dominated financial infrastructure. The integration of payment systems within the BRICS bloc could provide a viable alternative to the US-controlled SWIFT system, reducing vulnerability to US sanctions. De-dollarization poses challenges for the US, including potential devaluation of the dollar, higher borrowing costs, and a diminished ability to impose economic sanctions.

#Brics #DollarDominance #UsEconomicPower #Dedollarization #Swift #UsSanctions

https://seekingalpha.com/article/4682637-brics-rebellion-plotting-the-end-of-dollar-dominance-and-us-economic-power


Biggest stock movers today: Crypto stocks, FSLY, and more
==========

Stock futures inched lower while Treasury yields rose in the early trading hours of Monday. EHang Holdings Limited's shares rose 6% after obtaining the Production Certificate (PC) from the Civil Aviation Administration of China for its EH216-S eVTOL aircraft. Fastly's shares rose over 4% after being upgraded at Piper Sandler to Overweight from Neutral. Shares of cryptocurrency-linked companies rose higher as Bitcoin surpassed the $72,000 level. Coinbase Global rose 5%, Riot Blockchain climbed 5.9%, Marathon Digital Holdings was up 7.6%, Hut 8 Mining gained 5.8%, Cleanspark jumped by 7.4%, MicroStrategy Incorporated jumped 12.2%, Cipher Mining surged 8%, Stronghold Digital Mining rose 2.3%, Bitdeer Technologies Holding Company climbed 3.4%, and Bakkt Holdings climbed by 6%.

#StockMarket #StockMovers #CryptoStocks #Fsly

https://seekingalpha.com/news/4087813-biggest-stock-movers-today-eh


Dividend Harvesting Portfolio Week 161: $16,100 Allocated, $1,430.49 Projected Dividends
==========

The Dividend Harvesting Portfolio finished week 161 with a balance of $18,205.27, up 13.08% on invested capital. The portfolio is generating $1,430.49 in forward dividend income, with a yield of 7.86%. US consumer spending increased by 0.8% MoM in February, the largest gain since January 2023. China's non-manufacturing PMI increased for the 4th consecutive month to 53 from 51.4. The US personal consumption expenditure price index (PCE) increased by 0.3% MoM in February. The S&P 500 closed at 5,254.35, gaining 0.64%. The Dividend Harvesting Portfolio has allocated $16,100 over the past 161 weeks and finished week 161 with a balance of $18,205.27. The top-10 holdings in the portfolio include Altria Group, Verizon Communications, and BlackRock Science and Technology Trust. The portfolio is projected to generate $1,430.49 in forward dividend income, with a yield of 7.86%. The Dividend Harvesting Portfolio is focused on generating consistent cash flow while mitigating downside risk.

#DividendHarvesting #Portfolio #DividendIncome #Investing #Dividends

https://seekingalpha.com/article/4681853-dividend-harvesting-portfolio-week-161-16100-allocated-1430-49-in-projected-dividends


U.S. planned job cuts rise 7% in March, Challenger Jobs Cuts Report says
==========

U.S.-based employers announced 90,309 job cuts in March 2024, up 7% from the 84,638 cuts announced in February and a mere 0.7% up from the 89,703 cuts announced in March 2023. In the first quarter of the year, companies announced plans to cut 257,254 jobs, down 5% from the 270,416 cuts announced in the same quarter a year ago. Technology tallied 42,442 job cut announcements in Q1 2024, down 59% from the 102,391 cuts disclosed in Q1 2023. The government announced 36,195 job eliminations in the year-to-date, including 36,044 in March. Financial firms announced 28,715 job cuts in Q1 2024, the third-highest among sectors, down 6% from a year ago. The leading reason for job cuts in the first quarter was "cost-cutting," which accounted for 66,302 of the reductions, followed by "restructuring," which led to 48,352 cuts this year. Some 38,619 were due to business, unit, or store closures, while market conditions accounted for 23,329 cuts, and 7,591 were linked to bankruptcy.

#JobCuts #Employment #ChallengerJobCutsReport #UsEconomy

https://seekingalpha.com/news/4086900-challenger-job-cuts-report


Federal Reserve to take 'thoughtful approach' to Basel III endgame rule, Fed's Barr says
==========

Federal Reserve Vice Chair of Supervision, Barr, stated that the Fed will take a 'thoughtful approach' to the proposed rule for the Basel III endgame requirements for bank capital. He did not mention whether the Fed would issue a re-proposal but stated that changes will be made along the way. The Fed expects to receive a lot of comments on the rule. Barr also mentioned that the Fed's role in climate change risks is to ensure financial stability and that banks are assessing and managing their risk related to climate change. He highlighted concerns about the office commercial real estate sector and operational risks, particularly cybersecurity. Overall, Barr stated that the banking system is sound and resilient.

#FederalReserve #BaselIii #BankCapital #ClimateChangeRisks #FinancialStability #CommercialRealEstateSector #OperationalRisks #Cybersecurity

https://seekingalpha.com/news/4086953-federal-reserve-to-take-thoughtful-approach-to-basel-iii-endgame-rule-feds-barr-says


U.S. Composite PMI inches down in March's final estimate
==========

The S&P Global U.S. PMI Composite inches down in the final March estimate, a hair above the 52.2 flash estimate and down slightly from 52.5 in February. The latest readings still point to a solid increase in business activity, with manufacturing production climbing at the fastest clip in nearly two years. Services activity growth deteriorated. Services PMI came in at 51.8, higher than the 51.7 flash estimate and 52.3 prior. Chris Williamson, chief business economist at S&P Global Market Intelligence, suggests that the combined data point to GDP having risen at an approximate 2% annualized rate in the first three months of the year.

#UsCompositePmi #BusinessActivity #Gdp #ManufacturingProduction #ServicesActivity #EconomicData

https://seekingalpha.com/news/4086809-us-composite-pmi-inches-down-in-marchs-final-estimate


Atlanta Fed's Bostic pushes out his first-rate-cut projection to Q4
==========

Atlanta Fed President Raphael Bostic has revised his projection for the first rate cut to Q4 of this year. Bostic expects the current disinflation process to continue to be bumpy, and if the economy evolves as he expects, with robust GDP, low unemployment, and slow decline of inflation, he believes it would be appropriate to start moving down at the end of this year. Bostic had previously called for the rate cut to take hold in Q3, but now believes that inflation will ease much slower than expected. He is one of the more hawkish members of the Federal Open Market Committee (FOMC), while the committee's latest median projection held firm at three rate reductions in 2024.

#AtlantaFed #RaphaelBostic #RateCut #Q4 #Disinflation #Gdp #Unemployment #Inflation #FederalOpenMarketCommittee #Fomc

https://seekingalpha.com/news/4086792-atlanta-feds-bostic-pushes-out-his-first-rate-cut-projection-to-q4


U.S. PMI Manufacturing expands in March, but at a weaker than expected rate
==========

The U.S. PMI Manufacturing index expanded in March at a weaker than expected rate of 51.9, compared to the consensus of 52.5 and 52.2 in February. This marks the third straight month above the 50.0 no-change mark. The rate of job creation increased, but new order growth eased. Manufacturers recorded a solid and accelerated rise in production, with the rate of growth being the sharpest in almost two years. Chris Williamson, chief business economist at S&P Global Market Intelligence, stated that the final reading of the S&P Global Manufacturing PMI signals a further encouraging improvement in business conditions in March, suggesting that the U.S. economy expanded at a solid pace in the first quarter.

#UsPmiManufacturing #EconomicIndicators #ManufacturingSector #BusinessConditions #JobCreation #NewOrders

https://seekingalpha.com/news/4085620-us-pmi-manufacturing-comes-in-weaker-than-expected-in-march


e.l.f. Beauty embraces TikTok Shop as retail partner
==========

e.l.f. Beauty announced that e.l.f. Cosmetics will be the first brand featured in a TikTok Shop Super Brand Day, running until April 3. The highlight of Super Brand Day will be the debut of Power Grip Dewy Setting Spray. e.l.f. Beauty was an early adopter in embracing TikTok Shop as a retail partner and has thrived on the platform by creatively engaging with its community. During its last earnings call, e.l.f. Beauty executives noted that the company was amongst the fastest-growing beauty brands on Amazon and the first major beauty brand to launch on TikTok Shop. Shares of e.l.f. Beauty are up 36% year-to-date.

#ElfBeauty #TiktokShop #Retail #Partnership #BeautyBrands #Amazon

https://seekingalpha.com/news/4085470-elf-beauty-embraces-tiktok-shop-as-retail-partner


Delinquencies rise in February as diverging consumer credit trends emerge (NYSE:RKT)
==========

Delinquencies rose across all credit tiers and products in February 2024, including auto loans, credit card debt, mortgages, and personal loans. The delinquency rate broke above 1.0% in February, reaching 1.04%, the highest since February 2020. The number of consumers in the VantageScore Prime credit tier contracted for a second straight month, with a 1.1% year-over-year decline. Superprime consumers are still spending and borrowing, while Subprime consumers are finding it increasingly difficult to stay current on credit payments. New account originations and utilization rates declined, indicating potential economic slowdown and increased consumer stress. Balances remained high overall but edged down in February compared to January. The overall utilization rate fell for a second month, reaching its lowest level since May 2021.

#Delinquencies #ConsumerCredit #Vantagescore #RocketCompanies

https://seekingalpha.com/news/4085317-delinquencies-rise-in-february-as-diverging-consumer-credit-trends-emerge


Ecolab Stock: This Dividend Aristocrat Is Set To Benefit From AI In A Big Way (NYSE:ECL)
==========

Ecolab, a materials stock in the specialty chemicals industry, is set to experience major growth due to AI proliferation. The company's expertise in water and infection prevention makes it well-positioned for the growth of data centers and semiconductor fabs. Ecolab's reliable cash flows and growth prospects justify its premium valuation, and it remains a top pick for long-term investors.

#Ecolab #Ai #SpecialtyChemicals #DataCenters #SemiconductorFabs

https://seekingalpha.com/article/4681274-ecolab-ecl-stock-dividend-aristocrat-benefit-from-artificial-intelligence-in-big-way


PCE inflation data is 'in line with what we want to see': Fed's Jerome Powell
==========

Federal Reserve Chair Jerome Powell stated that the core PCE inflation data for February, running at +2.8% YoY, was 'pretty much in line with our expectations' and 'more or less in line with what we want to see.' Powell emphasized the importance of productivity in the strength of the US economy and stated that the Fed will be cautious in its decisions due to the current strong growth. He also mentioned that the Fed will not cut rates until it is confident that inflation is on a sustainable path to 2%. Powell highlighted the need for the Fed to be forceful when necessary to avoid further banking system issues and stated that the banking system has settled down from the stresses of the previous year. He also mentioned that commercial real estate issues will persist for some time. Powell expressed support for an independent Fed and stated that the Fed's role is to keep the economy stable and step in during times of crisis. He emphasized the importance of transparency and predictability in the Fed's actions to avoid market disruption. Powell stated that countries with weak or no central bank independence do not have price stability. He also discussed his aspirations for the Fed to transcend politics and his sense of accountability and responsibility for the institution. Powell stated that the possibility of a recession is not elevated at this time. He mentioned that as inflation approaches 2%, the Fed can pay more attention to the employment part of its mandate. Powell expressed uncertainty about the future direction of interest rates and stated that short-term rates are likely to come down from their current levels. He emphasized the need to let the data determine if higher inflation is temporary or more persistent. Powell discussed how inflation did not bounce back and took a long time to heal after the pandemic. He mentioned that he schedules calls with every voting and non-voting member of the Federal Open Market Committee before policy meetings to create consensus. Powell stated that monetary policy is well placed to react to different paths for the economy.

#PceInflationData #JeromePowell #FederalReserve #UsEconomy

https://seekingalpha.com/news/4085319-jerome-powell


Retail inventories in the U.S. rise 0.4% in February
==========

Retail inventories excluding autos in the United States rose by 0.4% M/M in February 2024, following a 0.3% increase in the prior month. On a yearly basis, retail inventories excluding autos are predicted to drop by 0.7% in February.

https://seekingalpha.com/news/4085310-retail-inventories-in-the-us-rise-04-in-february


Wix Stock: Increasing Price Target As Partners Business And AI Should Drive Growth (WIX)
==========

Wix.com Ltd. (WIX) reported Q4 revenue and earnings that exceeded expectations, driven by growth in its Partners business and innovation in AI offerings. The company's strategic initiatives, including Wix Studio and AI capabilities, should drive superior user experience and a higher conversion rate, leading to greater monetization on its platform. Despite risks from uncertain macroeconomic conditions and competition, Wix is projected to continue growing revenue and improve operating margins, making it a buy with a 40% upside potential.

#Wix #Wix #Stock #PartnersBusiness #Ai #Growth #Revenue #OperatingMargins

https://seekingalpha.com/article/4681181-wix-stock-price-target-increased-partners-business-ai-should-continue-drive-growth


There's no rush for the Federal Reserve to start rate cuts, Waller says
==========

Federal Reserve Governor Christopher Waller stated that there is "no rush" for the Federal Open Market Committee to start cutting interest rates. Waller expressed uncertainty about the speed of implementing rate reductions due to the inflation data received so far this year. He emphasized the need to avoid acting too soon, as it risks a resurgence in inflation. Waller believes that waiting a little longer to cut rates carries a significantly lower risk than acting prematurely. While Waller agrees that rate cuts may be appropriate this year, he wants to see a couple of months of better inflation data before having enough confidence to begin cutting rates. In March, Waller expressed his preference for the Fed's holdings of mortgage-backed securities to drop to zero and for a larger portion of its Treasury holdings to shift towards short-dated securities.

#FederalReserve #InterestRates #Inflation #RateCuts #ChristopherWaller

https://seekingalpha.com/news/4084719-feds-waller-says-there-is-no-rush-to-cut-the-policy-rate


Chicago Fed's Goolsbee expects three rate cuts in 2024 - report
==========

Chicago Fed President Austan Goolsbee expects three interest rate cuts in 2024, in line with the policymakers' median projection. The Federal Open Market Committee's Summary of Economic Projections showed that 10 officials called for at least three rate reductions in 2024, while nine others penciled in two or fewer. Goolsbee stated that the broader disinflation picture is likely still intact despite the recent rise in consumer prices. He emphasized the need to strike a balance between the dual mandate of the Fed. Goolsbee made these comments in a virtual interview with Yahoo! Finance.

#ChicagoFed #AustanGoolsbee #InterestRates #FederalOpenMarketCommittee #Inflation

https://seekingalpha.com/news/4083337-chicago-feds-goolsbee-expects-three-rate-cuts-in-2024-report


Global growth is set to slow in 2024 with some aspects of inflation still high - Citi
==========

Global growth is expected to slow down in 2024, according to a Citi Research Macro Think Tank report. Citi's 2024 global growth forecast is at 2.1% growth year-over-year, compared to 2.7% last year. Germany, the UK, and Sweden are likely to remain weak, while the US and Spain are expected to soften. China and India are expected to slow but still have solid growth. Downside risks include geopolitical stress and fears over US commercial real estate. Global headline inflation has fallen significantly, while global core inflation has moderated. Global services inflation remains high, and labor markets remain tight with wages above 2019 levels.

https://seekingalpha.com/news/4083331-global-economic-growth-is-set-to-slow-in-2024-with-some-aspects-of-inflation-still-high-citi


CGO: Good Portfolio, But Poor Relative Performance Plagues This Global CEF
==========

The Calamos Global Total Return Fund (CGO) offers geographic diversification and a high distribution yield of 9.15%. However, the fund has underperformed major equity indices and has a negative return of 10.36% over the past three years. It invests in a combination of equities and bonds but has been disappointing compared to comparable index funds. The fund has failed to cover its distribution over the past two years and may be at risk of reducing its payout. It is currently trading at a discount to net asset value but is more expensive than its recent average. The fund's portfolio is well-diversified, with 51.8% of assets invested in the United States. It also holds positions in companies such as NVIDIA, Eli Lilly, and Apple. The fund employs leverage, with leveraged assets comprising 31.71% of its portfolio. The fund pays a monthly distribution of $0.08 per share, giving it a yield of 9.15%. However, it has failed to cover its distribution for two consecutive years. The fund's net asset value is $11.37 per share, but it trades at $10.53, representing a 7.39% discount. Overall, the fund's historical performance is poor compared to common equities and convertible bonds, and it may not be a suitable investment option.

#Cef #Investment #Portfolio #Performance #Yield #Equities #Bonds #Distribution #Dividends #Leverage

https://seekingalpha.com/article/4680157-cgo-good-portfolio-but-poor-relative-performance-plagues-this-global-cef


U.S. Senate approves government funding package, averting shutdown
==========

The U.S. Senate passed a $1.2T government funding package, averting a partial shutdown. The legislation was approved by a vote of 74 to 24 and will now head to President Joe Biden to be signed into law. The funding package, which runs more than 1K pages long, would provide funding for various departments. The federal government is now funded through the end of the fiscal year.

#UsSenate #GovernmentFunding #Shutdown #JoeBiden

https://seekingalpha.com/news/4083067-us-senate-approves-government-funding-package-averting-shutdown


What The Fed Is Watching Before Cutting Rates
==========

The Federal Reserve (Fed) is monitoring GDP, non-farm payrolls, and unemployment to determine when to cut rates. The Fed increased its 2024 real GDP growth forecast from 1.4% to 2.1% and lowered its unemployment rate forecast from 4.1% to 4.0% for this year. The Fed may delay rate cuts if GDP growth remains strong and non-farm payrolls continue to increase. The equity markets could experience a correction if rate cuts are delayed. The Fed's upcoming meetings will be critical in determining the timing and extent of rate cuts. Factors such as inflation, consumer spending, and bank lending also influence monetary policy decisions.

#FederalReserve #InterestRates #Gdp #NonfarmPayrolls #Unemployment #EquityMarkets

https://seekingalpha.com/article/4680061-what-the-fed-is-watching-before-cutting-rates


What The Bond Market Is Telling Us About The Future Path Of Rate Cuts
==========

The U.S. Federal Reserve is signaling it still sees three rate cuts this year. The markets were running a little hawkish, expecting two cuts this year, but the Fed surprised by reinforcing that the median dot plots for this year is three rate cuts. The central banks of both Canada and the U.S. are looking at cutting rates sometime in June, September, and December this year. The Fed is keenly focusing on the labor market and any deterioration on that side. The trajectory is slightly weaker, but the Fed expects the disinflationary trend to continue. The data is consistently showing that inflation is slowing, and the trend is to a modest adjustment on growth down and an adjustment on inflation. The trajectory is for a rate cut in June. The likely scenario is that fixed income will benefit from longer-term yields coming down and front-end yields coming down. The trajectory is there for rate cuts, but it will have to be a surprise on the U.S. side if there are no adjustments on inflation.

#UsFederalReserve #RateCuts #BondMarket #Inflation #LaborMarket #EconomicGrowth

https://seekingalpha.com/article/4680057-what-bond-market-telling-about-future-path-of-rate-cuts


The Fed will end up with three interest rate cuts as a median - MS' chief U.S. economist
==========

Ellen Zentner, Morgan Stanley chief U.S. economist, expects the Federal Reserve to keep three interest rate cuts as a median. Zentner believes that the re-acceleration of inflation is temporary and that there have been downward revisions in the labor market. She points out that core services ex-housing experienced a significant reversal after January. February CPI showed a year-over-year percentage change of 3.2% overall, 5.7% for shelter, 2.2% for food, -3.9% for gasoline, and -1.8% for used vehicles. Zentner believes that the Fed has a long time to deliver the rate cuts and that growth will come up while inflation forecasts stay the same. She attributes economic growth to strong immigration numbers and an incredible supply in the labor market, which leads to slower wage growth, strong job gains, and deceleration in inflation.

#FederalReserve #InterestRateCuts #Inflation #LaborMarket #Cpi

https://seekingalpha.com/news/4081244-the-fed-will-end-up-with-three-interest-rate-cuts-as-a-median-ms-chief-us-economist


Powell Must Step Up And Become A Daddy
==========

The U.S. economy needs Federal Reserve Chairman Jerome Powell to assume a strict and disciplinarian role in order to combat accelerating inflation. Powell's recent lack of action and failure to tighten financial conditions has increased the risk of inflation and undermined the Fed's credibility. Powell must reassert the Fed's commitment to reducing inflation, deliver a significant shock to financial markets, and communicate clear consequences for inflationary behavior.

#FederalReserve #JeromePowell #Inflation #FinancialMarkets

https://seekingalpha.com/article/4679111-powell-must-step-up-and-become-a-daddy


February Portfolio: Dividends, Buys, And Sells
==========

In February, the author made progress in meeting their 2024 goals, including maximizing contributions and cleaning up their portfolio. Dividend income in February grew by 13.3% YoY, with contributions from reinvestment, increased dividends, and new money. Several buys and sells were made in February to simplify the portfolio and focus on higher-quality holdings. The author provides details on the specific stocks bought and sold, as well as their reasons for making those decisions. The author emphasizes the importance of dividend growth investing and frequently assessing holdings to ensure sustainable dividend growth in the future.

#Portfolio #Dividends #Buys #Sells #DividendGrowthInvesting

https://seekingalpha.com/article/4678483-february-portfolio-dividends-buys-and-sells


Biden's 2025 budget proposal calls for higher taxes on investors, businesses
==========

President Joe Biden has proposed a budget that includes higher taxes on investors and businesses. The budget amounts to $7.3 trillion in spending proposals, with the aim of reducing the federal deficit by $3 trillion over the next 10 years. The proposal includes increasing the capital gains tax to 39.6% for those earning at least $1 million, increasing the Medicare tax to 5% for those earning at least $400,000, and raising the top personal-income tax rate to 39.6% for individuals earning over $400,000. The plan also includes raising the corporate tax rate to 28% and doubling the taxes on U.S. firms' foreign earnings. Additionally, the plan would increase the tax rate on stock buybacks and deny corporate tax breaks for compensation exceeding $1 million.

#Biden #BudgetProposal #Taxes #Investors #Businesses

https://seekingalpha.com/news/4078124-bidens-2025-budget-proposal-calls-for-higher-taxes-on-investors-businesses


Yields Of Up to 9%: My Top 10 High Dividend Yield Companies For March 2024
==========

Investing in high dividend yield companies comes with advantages such as extra income, portfolio volatility reduction, and protection against inflation. The article presents 10 high dividend yield companies for March 2024 that have attractive valuations, financial health, and competitive advantages. The companies are Coca-Cola, Enterprise Products Partners, Verizon, Altria Group, Realty Income, CVS Health, Bayerische Motoren Werke, MPLX LP, BB Seguridade Participações, and The Bank of Nova Scotia. The article provides detailed analysis of each company's financial ratios, competitive advantages, valuation, and risk factors. It also highlights the potential yield on cost for investors and suggests diversification over industries and countries. The article emphasizes the benefits of investing in high dividend yield and dividend growth companies for long-term wealth generation.

#DividendYield #Investing #Valuation #FinancialHealth #CompetitiveAdvantages #DividendGrowth #RiskFactors #Diversification

https://seekingalpha.com/article/4676494-yields-of-up-to-9-percent-my-top-10-high-dividend-yield-companies-for-march-2024


U.S. natural gas inventory net change of -40 Bcf for week ended March 1 - EIA
==========

The U.S. Energy Information Administration (EIA) reported a net change of -40 billion cubic feet (Bcf) in natural gas inventory for the week ended March 1, 2024. This is compared to a net change of -96 Bcf for the previous week. The consensus estimate for net change was -42 Bcf. Total working gas stocks were 2,334 Bcf, which is 280 Bcf higher than the same time last year and 551 Bcf above the five-year average. Stocks were above the five-year historical range. The EIA's Weekly Natural Gas Storage Report provides more details.

#NaturalGas #Inventory #Eia #NetChange

https://seekingalpha.com/news/4077237-us-natural-gas-inventory-net-change-of-40-bcf-for-week-ended-march-1-eia


Baron Funds Q3 2023 Letter From Ron Baron
==========

Baron Funds is an asset management firm focused on growth equity investment solutions. Since their inception, 16 funds representing 98.6% of Baron Funds' AUM have outperformed their benchmarks. The 30th Annual Baron Investment Conference was held on November 10, 2023, with over 5,000 attendees. Baron Capital has investments in about 400 businesses, with 30 investments representing 59% of the firm's assets. CEOs of four businesses spoke at the conference about their growth opportunities. Baron Capital's investment process focuses on long-term investing in publicly traded businesses. The firm aims to double its money every 5 to 6 years by investing in businesses with sustainable double-digit growth. Baron Capital has a strong focus on investing in talented individuals and has a long-tenured staff. The firm has a strong track record of outperforming benchmark indexes. The letter also mentions specific investments in companies like CoStar Group, FactSet Research Systems, Kinsale Capital Group, West Pharmaceutical Services, and ANSYS. The letter concludes with a mention of the Annual Baron Investment Conference's entertainment offerings and the giveaway of three Tesla Model Ys as door prizes.

#BaronFunds #RonBaron #AssetManagement #Investment #GrowthEquity #AnnualBaronInvestmentConference #CostarGroup #FactsetResearchSystems #KinsaleCapitalGroup #WestPharmaceuticalServices #Ansys #TeslaModelY

https://seekingalpha.com/article/4673274-baron-funds-q3-2023-letter-from-ron-baron


U.S. Inflation Descent Outpacing That Of Europe According To Flash PMIs
==========

The flash PMI surveys for February show mixed news on inflation, with European prices appearing stickier than in the US. The UK is experiencing a greater incidence of supply chain delays, potentially leading to higher prices in the coming months. The US PMI data indicate a cooling of inflation, with the average prices charged for goods and services remaining low by historical standards. The eurozone PMI data suggest consumer price inflation close to 3%, while the UK PMI data indicate consumer price inflation around 4%, double the Bank of England's target. The UK also experienced the highest degree of supply chain delays in over one-and-a-half years, linked to Red Sea shipping disruptions. This could potentially widen the inflation differential between the UK, the US, and the Eurozone in the future.

#Inflation #PmiSurveys #Us #Europe #Uk

https://seekingalpha.com/article/4673149-us-inflation-descent-outpacing-that-of-europe-according-to-flash-pmis


Department of Education forgives $1.2B more in student loans under SAVE plan
==========

The Biden Administration automatically discharges $1.2B in loans for almost 153,000 borrowers under the Saving on a Valuable Education (SAVE) Plan. The plan offers a reduced timeline to forgiveness for borrowers who have made at least 10 years of payments and originally borrowed $12,000 or less for college. The administration has approved debt cancellation for almost 3.9M borrowers, totaling almost $138B in relief.

#DepartmentOfEducation #StudentLoans #BidenAdministration #DebtCancellation #LoanForgiveness

https://seekingalpha.com/news/4069572-department-of-education-forgives-12b-more-in-student-loans-under-save-plan


TrueCar reports Q4 results
==========

TrueCar, Inc. (TRUE) reported Q4 revenue of $41.3M, a 12.5% increase YoY, missing expectations by $0.56M. The net loss for the quarter was ($1.9) million, compared to ($18.1) million in Q4 2022. Adjusted EBITDA was $2.1 million, compared to ($10.0) million in Q4 2022 and $0.8 million in Q3 2023. TrueCar's balance sheet remained strong with cash and equivalents of approximately $137.0 million as of December 31, 2023, and no debt. The stock price of TrueCar decreased by 3.31% following the announcement.

#Truecar #Q4Results #Revenue #NetLoss #Ebitda #Financials

https://seekingalpha.com/news/4069315-truecar-reports-q4-results


U.S. e-commerce retail sales edge up 0.8% in 2023's last quarter
==========

E-commerce retail sales for Q4 2023 advanced 0.8% to $285.2B, accounting for 15.6% of total sales. Total retail sales for Q4 2023 were estimated at $1,831.4B, up 0.4% from Q3. On a year-over-year basis, e-commerce sales increased 7.5%, while total retail sales gained 2.8%. Last week, retail sales shocked to the downside in January's reading.

#U.s.Economy #E-commerce #RetailSales

https://seekingalpha.com/news/4068902-us-e-commerce-retail-sales-edges-up-08-in-2023s-last-quarter


Baron Funds Q4 2023 Report - Letter From Linda
==========

Baron Funds had a successful year in 2023, with 12 out of 14 U.S.-focused funds outperforming their benchmarks. The stock market performed well, with the S&P 500 Index increasing 26.3% and the Nasdaq 100 Index achieving its best annual performance since 1999 with a gain of 55.1%. The market's resilience was supported by easing inflation trends, a strong labor market, and the Federal Reserve signaling a pause in rate hikes and a potential shift to lower rates in 2024. Baron Funds focuses on companies with solid fundamentals and above-average growth potential, and they believe that small- and mid-cap stocks are favorably positioned for potential outperformance. Historical data shows that small- and mid-caps tend to outperform large-caps during periods of declining interest rates. Small- and mid-cap stocks are also attractively valued compared to large-caps. Baron Capital remains invested in both large- and small-/mid-cap stocks and believes that their disciplined approach and ability to identify exceptional businesses will continue to drive their success.

#BaronFunds #U.s.StockMarket #Small-capStocks #Mid-capStocks #InterestRates

https://seekingalpha.com/article/4671230-baron-funds-q4-2023-report-letter-from-linda


IIM: Deep Discount, Distribution Boost And Potential Opportunity Moving Forward (NYSE:IIM)
==========

Invesco Value Municipal Income Trust (IIM) is a closed-end fund that offers a diversified portfolio of municipal bonds and is currently trading at a deep discount. The fund recently increased its distribution in an effort to close the discount, although this has resulted in weaker coverage. IIM is leveraged, which adds volatility but also potential reward, especially if risk-free rates decrease and the Fed cuts rates. The fund's leverage costs have increased, squeezing its net investment income. However, if rates come down, the borrowing pressures will ease, potentially improving coverage. The fund's distributions have largely been tax-free, with some return of capital and ordinary income. IIM's portfolio consists of 528 total holdings, mostly high-quality and investment-grade municipal securities. The fund's discount remains significant, but a lower-rate environment could see the discount narrow. Overall, IIM presents a potential opportunity for investors if risk-free rates decrease and the fund's discount narrows.

#InvescoValueMunicipalIncomeTrust #Iim #Closed-endFunds #MunicipalBonds #Leverage #Risk-freeRates #Discount

https://seekingalpha.com/article/4669995-iim-deep-discount-distribution-boost-potential-opportunity-moving-forward


Federal Reserve Watch: Quantitative Tightening Is The Key To Future Economic Stability
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Financial analysts are focused on the interest rate policy of the Federal Reserve, but fail to understand the importance of quantitative tightening. The Federal Reserve pumped trillions of dollars into the U.S. financial system to combat the effects of the Covid-19 pandemic. While some of these excess funds have been removed, a large amount of reserves still remain in the system. These excess reserves are helping to finance the growth of the U.S. economy. The Federal Reserve is attempting to remove excess reserves without disrupting economic growth. Commercial banks currently hold around $3.4 trillion in cash assets, compared to less than $1.6 trillion before the pandemic. The banking system also holds close to $3.6 trillion in excess reserves. The Federal Reserve has reduced its securities portfolio by $1.378 trillion through quantitative tightening, but still has a long way to go to return it to previous levels. The Fed's goal is to sustain economic growth without reigniting inflation. The stock market is growing because investors are focused on how the economy is responding to the excess liquidity. If the Federal Reserve can maintain stability, investors should do well.

#FederalReserve #QuantitativeTightening #EconomicStability #InterestRates #Reserves #BankingSystem #CashAssets #SecuritiesPortfolio #Inflation #StockMarket

https://seekingalpha.com/article/4669316-federal-reserve-watch-quantitative-tightening-key-to-future-economic-stability