35 Burst results for "Yearend"
Japan PM's son to resign after public outrage over private party at official residence
"The Japanese prime minister fumio kishida says his son is resigning as his executive policy secretary after using the prime minister's residence for a private party, the news was exposed in magazine photos that have triggered public outrage shotaro kishida invited a group of people, including relatives to a yearend party on December 30th at the prime minister's official residence, photos show them posing on red carpeted stairs in an imitation of the group of photos taken of newly appointed cabinets with his son at the center the position reserved for the prime minister. Other photos showed the guests standing at a podium as if holding a news conference. Kishida acknowledged that he had briefly greeted the guests, but said he didn't stay at the dinner party, his father says he's severely reprimanded his son, but that's failed to quell ongoing criticism from opposition lawmakers and the public pushing down his support ratings. I'm Lawrence Brooks
What's the BTC Price Trending At???
"Bitcoin price here log scale. I have data as of May 15th a day ago from this recording about 27,000 dollars per Bitcoin. I'm going to run an all time trendline regression over the price now, and again, what is that all time trend that best fits Bitcoin? It's not linear, not log, not exponential. It is a power trendline. All right, so here it is. 95% R squared. It starts on Bitcoin pizza day with laszlo. Making that first Bitcoin price, which turns out to be sub one penny per Bitcoin. Nonetheless, that got us started here and we move on all the way until basically yesterday to get this power curve. 95% R squared's really, really, really strong. Now in prior videos, I showed a variety of different years of the trendline. But basically, this is going to be an evolution now or a progression of how this trendline looked over the years. But rather than going forward, I want to go backward. Okay, I don't think I've gone backward before. So you can imagine that when I draw 2020 twos trendline, it's going to look pretty similar to the all time trendline, all right? And what's the difference? Basically, 2020 twos trendline is going to take in all the data from the beginning. Until yearend 2022. So only basically the same as this except 2020 twos trendline won't have the last 5 months of data, but we can still predict out and see where it is. Okay, so as this is on log scale, it's going to look pretty granular. I'll zoom in in a second to show you, but let's just, let's go 2022 and see where it is. You might have not even noticed on the screen here. Any difference. But there is. And I'll show you on the tool tip. There it is, 2022, 95% R squared as of May 15th, the trendline for 2022 is $55,000 for Bitcoin, all time trend is $52,000 for Bitcoin. And of course, we are under both of those at $27,000. For Bitcoin at the moment.
Market Strategist Michael Wilkerson Believes US Inflation Could Rise to 12 by YearEnd Despite Predictions of Decrease
"7 p.m. Sunday February 26th, 2023. Market strategist Michael wilkerson believes U.S. inflation could rise to 12 by yearend despite predictions of decrease. While several market strategists and analysts expect U.S. inflation to drop considerably in 2023 compared with last year, Michael wilkerson founder of storm wall advisers thinks the inflation rate could climb as high as 12 by the end of this year. The country's inflation rate has cooled down over the past 7 months, but wilkerson insists
"yearend" Discussed on Bloomberg Radio New York
"This is Bloomberg law with June gross from Bloomberg radio. You're listening to a special yearend edition of Bloomberg law, looking back at some of the biggest legal issues over the past year. I'm June Grasso. Frank Sinatra was a man. No. He was the man. And he loved Jack. Jack has a Daniels. On stage every night. Three rocks, two fingers and a splash of water. So Frank. This one's for you. That's the neck of the gods. Baby. Frank Sinatra would often hold up a glass of Jack Daniels on stage, contributing to the popularity of the country's bestselling whisky, with its iconic shouldered bottle and its 150 year history as a Tennessee whisky. Any wonder that Jack Daniel's properties would take offense at a chewable dog toy mimicking its signature whisky bottle and bearing the label bad spaniels, the old number two on your Tennessee carpet. Jack Daniel says its trademarks are being infringed, but the 9th circuit ruled that the toy maker VIP products was entitled to First Amendment protection because the dog toy was an expressive work. Now the Supreme Court has agreed to review that decision in a case that will test the reach of trademark rights in the face of First Amendment claims. My guest is intellectual property litigator Terrence Ross, a partner at cat and mucin Rosamund. So Terry, tell us about the basic legal fight here and the history of litigation. June number of years ago, a company called VIP products, which puts out novelty toys, especially for dogs, came out with a dog toy called bad spaniels that mimicked the classic Jack Daniel's whisky bottle for its old number 7, Jack Daniels, parent company Brown informant, not surprisingly sent out cease and desist letters to VIP products. And VIP products brought a declaratory judgment action in Arizona, seeking to obtain from the court a ruling that what they were doing was not a violation. The trademark laws. The district court had a bench trial, which is a trial without a jury. And ruled that it was trademark infringement. VIP products took that case up to the 9th circuit and the 9th circuit reversed saying that the dog toy is a quote expressive work and it's protected by the First Amendment. Jack Daniels took that decision from the circuit up to the Supreme Court 2021, which refused to accept the case. So the case was sent back to the district court, which entered a judgment on behalf of the dog toy maker VIP products Brown forman's Jack Daniels company appealed that decision in the 9th circuit, which affirmed it without even writing anything. And in sort of a Hail Mary company took the case back to the Supreme Court. Second on. And to everybody's surprise on November 21st of this year, the Supreme Court granted certiorari on the case and has accepted it for reveal, which was quite surprising to trademark law field. This involves the Rogers test named after Ginger Rogers, explain a little bit about that test for us. The Rogers test is judge created rule that comes from 1989 case called Rogers versus grimaldi. It involved a frederico fellini film called Ginger and Fred. That was about two Italian cap rate dancers. And the reference in the title to Ginger and Fred was to Ginger Rogers and Fred Astaire, obviously. Everybody understood it to be that. And that's what Frederick will need handed it to me. So Ginger Rogers brought a lawsuit against the producer of the movie, alleging that they weren't allowed to market the movie using her name. In the case when up on appeal to the second circuit, which is the federal court for the New York area. And the court said, no, this was okay here. And they said, specifically, it was okay to use a celebrity's name in an expressive work if it's artistically relevant to the work and not explicitly misleading. And that rule became the Rogers test and expanded beyond merely the use of celebrity names, which was the narrow holding in the case to more broadly the use of trademarks in expressive works such as movies, books, songs, that sort of thing. So is that the test that the 9th circuit used in ruling for the toy company here? It is. And it represents one of the very first times that an appellate court has ever applied the Rogers test to commercial product, the Rogers test was expressly directed at so called expressive works and was not intended to apply to commercial products such as the dog Chewy toy here at issue. And so that was a bit of a surprise in and of itself. And now we have to assume that the Supreme Court has accepted this case in order to consider whether the 9th circuit was right in applying the Rogers test. Because if the Rogers test is applied, that sort of a low bar, it's a threshold issue. You don't have to then go into whether there's consumer confusion in the marketplace. That's correct. The Rogers test is intended to protect the legitimate First Amendment interests that creators have expressive works have. And indeed, you think about this in terms of something as simple as a film review. If you need to do a review for the newspaper magazine, television of a new film that's been released, you have to mention the name of the film. So there has to be some realm of protection emanating out in the First Amendment. Even though you're using trademarked names, the question is, how far does that expand? So this is the very first time that the Supreme Court will consider in the trademark context as opposed to the copyright context. What sort of First Amendment protection is there are that limit the applicability of trademark law. The toy company here also sells parodies of other popular alcoholic bottles, including Stella arpa, which mimics designs from beer makers, Stella artois, and Heinz, which resembles Heineken. So are there any other suits like this one? Indeed, this same company put out a chew toy for dogs that was in the shape of a beer bottle that had the title on it. But wiser. And looked very much like a bud wiser, beer bottle, and Budweiser did not want its beer being associated with people's bottoms and went to court sued and won. And that product is no longer on the market. Similarly, there's a case in the fourth circuit that so similar to the case here that it's on a shocking. It was a lawsuit in 2007. It was a caption was Louis Vuitton versus haute diggity dog and it was about a Chewy Vuitton dog toy that was put out as a parody of Louis Vuitton's trademarks. And the fourth circuit in that case did not even Dane to consider the Rogers test. It simply said, look, the way you approach case like this is to consider whether or not consumers are likely to be confused. That somehow this Chewy vatan dog toy is put out by Louis Vuitton, the fashion house. And that's the way you approach this. Indeed, the Rogers tested not even mentioned by the fourth circuit. So in a very real sense, the 9th circuit is the first federal palette court to consider and to apply the Rogers test in the context of a commercial product such as a dog toy as opposed to applying it only with respect to expressive works like songs movies and books. So do you have any idea why the court decided to take this case the second time around? This is exactly the problem that many of my friends in academia have discussed with me. We don't really know why all of a sudden the Supreme Court wants to look at this and that raises fears. The only difference in the law between 2021 when the court rejected this case, the first and November 2022 when the court decided to accept it on second go round is that the composition of the Supreme Court has changed. And it only takes four votes amongst the justices to your case and we've had at least my account if I've got it right two new justices. See that since then. So one can't help but wonder if that is the driving force here, is that the new justice has a different view of how trademark Washington applies. But the fear amongst academics and practitioners who follow this very closely is that the Supreme Court might start with a much bigger picture and ask, does the Rogers test even exist? The important thing to remember here is that there is no
"yearend" Discussed on SI Media Podcast
"I mean, he got that enormous deal with FanDuel. I think his show is now known for just not being like the Aaron Rodgers interview show. I think the guests he gets are outstanding. But he's got like, actually, he's got a crew. Like Boston Connor, and those guys, they're like, but that's the Howard stern formula. You need a crate. I like that. You need a crew. Yeah, absolutely. And there's the high jinks between them is what's cool. I also think I wrote this. No, I didn't write this in the column. I did not write this in the column. I talked about this on last week's pod with Brian Curtis a little. I don't know if it necessarily falls into like the MVP who had the best year. But I thought this was a phenomenal year for Joe buck from this standpoint. I hear you. Him and Troy made Monday night a big deal again. Yep. They also, I mean, ESPN has searched for a Monday night booth for so long. I mean, they had to RICO and Gruden. I was never a Gruden guy, so then they went through the disaster of booger McFarland, poor guy on a crane. They had the levy greasy Riddick thing, didn't catch on. For ESPN to stabilize that booth is a huge deal in the business. Fans may not care about it, but for ESPN now where they don't have to have themselves get bludgeoned every Monday night for four hours. They paid $3 billion for Monday Night Football. They'll gladly spend 50 million on the right guys. And I've said this a billion times the listeners are probably like, I didn't watch the man in kiss this year because Joe and Troy Ron, I just left it on. And I also found it fascinating when the World Series was going on in the playoffs, even the All-Star Game. Baseball fans were like, where's Joe buck? I miss Joe buck. I think this is like the year people realized, and the hatred of Joe buck has dissipated each year. It used to be a big Twitter thing. And I think it's definitely gotten better. But I thought this year 2022 people realized with the switch from Fox to ESPN and what he's done for my football, not doing the baseball. I think people realize that he is an all time great.
"yearend" Discussed on SI Media Podcast
"I'll throw out some categories. We go rapid fire here before we wrap up and just whatever you guys want to say here. So we did sports show. We did not in sports show. What are the sports media? Give me some sports. Let's talk about people. Give me a new sports media thing you love this year. All right, I have never been a barstool guy. When I say, I see their stuff, but I've never followed barstool where it's like I'm one of the students. I've never been that. And yet I respect the business model and all this stuff. This year, I got sucked into this guy, Frank the tank. I don't know if you guys watch the bar stool stuff, but it's Frank the tank is a die hard mets and dolphins fan. And I think he's the greatest thing to hit sports media this year. He is so passionate and absolutely freaks and they have these live feeds of them all watching games together. So you've got all the familiar faces, the big cats and the Dave portnoy and all them. And then the front seat is this guy who is a Jimmy, we know these guys who live in Queens and they watch every game or whatever he's from in Jersey and they just live and die with every pitch. And it's like, you know, I used to tune into francesa at 1 o'clock on a Monday after like a terrible giants game or a jets game just to hear the misery. This is in real time. And so his name is Frank the tank. I think it's NJ tank 99 on Twitter, but they have found gold in this guy. And I'm not laughing at him. I'm laughing with him. I think he's hilarious. I think he's the nest. I enjoy watching a true authentic sports thing, not someone who's got 17 brands behind them and is trying to muster up a social media following. Right. Peter, you had a great tweet about, I know you I think you went in studio with part of my take. Yeah. That feels closer to Howard Stern right now. Then everything. And I think honestly, I'm good friends with big cat and I think he gets a ton of credit. He's a freaking genius. And PFT is a genius too. Can I tell you something about paper guys? What I respect? Not to make this a pro barstool commercial or anything. Those guys, it cats got kids.
"yearend" Discussed on SI Media Podcast
"My favorite thing that I watch in 22 is old and I had did not come out in 22. It came out years ago. But I never watched it until this year, which was Succession. I love that show so much. In all timer. How excited are you? I am very excited. I'm glad now I'm ready for the next season. It's amazing. That's the best thing I watched this year, but it's not from 2022. Pearl is good. Sessions up there for me. Any FX show, Peter is amazing. What We Do in the Shadows, I don't know if you've seen that. I haven't. It's beyond good. It's Taika Waititi the famous director. There's a scene that will make you specifically laugh about getting your kid into private school this year. But I think the bear was on FX. I'm not sure. There was on FX. Everyone loved it. Love it. People, I love the show called station 11 on HBO. It's a serious one. But righteous gem shows amazing buddy. Oh, love it. Did anybody see the offer on paramount about the movie? Of course. Of course. I could not wait every episode. Boom, boom boom boom. I see I binged it and I watched it all at once. I thought Miles Teller was fantastic. I thought the woman who plays who's in Ted Lasso, she's great. Matthew Goode is. Amazing. Great, as Robert Evans. So good, yeah. That show was excellent. Bobby kind of valley's son plays one of the heavies in that one, and he's fantastic too. Really? Wow. Yeah. I'm glad you brought up the bear because that was that's the best 2022 show I want. Really? It was a half hour long, everyone loved it, but and very easy episodes. There's only like 8. It's very easy to get through. It's a little tough. I found it a little like, it's one of those shows, stressful, stressful. Stressful. White lotus season two, I feel stressful. Like all these shows, I know you watch, I loved my favorite note of the year was Peter said he was Sean mcgray watching white lotus season once. That was amazing. Season Susan's lost and hand Veronica, they invite me over their house. Very nice to them on their bye week. And I'm like, oh, please, let's not talk about rams football. And he's like, well, let's watch a show. I'm like, white lotus season two starts in a couple weeks. You watch it like, no. We've been to the whole season together. Me and him, his wife and him, eating takeout food on his couch and his castle out in California. It was great. But white lotus season two was even better than season one. Yeah. The bear is great and I wouldn't put it as a best show, but if you want your brain messed with, the Nathan for you, the rehearsal. The rehearsal, rehearsal, but I still don't know what the fuck it was. I have no clue, but. I love it. I listen to a podcast called, it's called the watch, and it's by the ringer guys, and it's too filly guys. Chris Ryan and ND greenwald, and I believe their guest was a guy named Sam, esme, who does other shows that mister robot and he said the rehearsal was his number one show of the entire year. And I couldn't argue. I thought it was crazy. I was awesome. I have a huge, huge fan. I become friends with some people who are in Hollywood and stuff. Nathan peeled her as a mystery to everybody. He's been offered roles in movies and he's turned him down.
"yearend" Discussed on SI Media Podcast
"Org. Playing forward foundation, creating opportunities. I want to talk about another NFL story that I think is one of the biggest stories of the year that happened at the beginning of the year and everyone perhaps forgotten about. It's a little bit of a serious story, but I think it's historical because of those involved. Can we remember because it happened in the calendar year of 2022? And it's because it's built ballot check. This is why it's great. When he texted the wrong Brian to go. And instead of texting Brian dabal, he texted Brian Flores, congratulating him on getting the Giants job, which then caused this whole thing about that, if I'm not saying it's trigger, you would be the exponents. That's how the whole Miami plan came out right with Brady. Sean Payton. Let's go to schrager for the since he's the inside of there. Give a little breakdown. It opened an open Pandora's box and it was revealed once they did it in an investigation on it that Brady and Sean Payton had come to some sort of contact about potentially taking over the Miami job once the season ended, which already indicated that Flores might have been already on the way out and then of course they looked into that and said, okay, well let's look at what even more and then Flores made the case that the tampering and not only that, the tanking for tua, all that stuff and it's why Stephen Ross, the owner of the dolphins is currently not on the sidelines as he's waiting his time for the suspension that he's been having going, but it might be a laughing matter with social media and millennials but like the league was none too pleased and of course it revealed some harsh truths about what was going on behind closed doors. Well, here's why it's just a clear it's a living matter because of two things. One, and I'm being a 100% dead seriously. I'm not trying to exaggerate. Outside of like a terminal illness or something with my family being sick, my biggest fear in life is sending a wrong text or slack or email to the wrong person. So the fact that Belichick did that and then he signs his texts, BB. Phenomenal. All right, yeah. No, there's two very different stories here. The Brian Flores case is very serious as it got to the NFL. Bill Belichick texting the wrong person cracks me up. Yeah, yeah. Bill Belichick is, and this year has been, I'm curious what you guys think. This has not been a good year for Bill. This whole map Patricia college offensive were there. I feel like the sense of Brady Belichick split thing happened, he's his legacy is slightly going down. I'm not saying like Russell Wilson going down, but it's kind of going down. And I don't know how he picks it up exactly. Well, you listen to Bill Simmons, who's pretty plugged in in Boston area. And he's talking with Seth wickersham from ESPN who's as plugged in as anybody when it comes to high level conversations and it's, hey, the word that you're getting now is that rubber craft is 80 years old and wants to win and I need some answers. What's going on here?
"yearend" Discussed on SI Media Podcast
"And we talked about all this stuff, but it wasn't that moment. If you weren't a patriots or raiders fan, you probably weren't sitting on the couch and collectively watching that with everyone. Now, a moment that I think was big and tell me, pearl, you're a Philadelphia sports fan. I feel like that Bryce Harper home run was massive, and I'm not even a baseball fan. But everyone, what it's a scenario town, but everyone was freaking out about that. Yeah, it's great. Yeah, a Grand Slam to win a playoff game. I mean, gigantic. I had that on my list too. By the way, one thing Peter about, you showed a play today of the New Orleans Saints running back, a lateral. There was incredible on good morning football. I couldn't believe it. I don't remember 2003. I think we be the social media. Everything that happens now gets blown up out of proportion. Like, there have been plays like this that just now feel bigger because of Twitter, I think. Yeah, the only thing I would say was Jaguar saints and it was a pass from Aaron Brooks, the Dante stallworth who went back another played a Michael Lewis who then lateraled it to draw and python who then gave it to two smokehouse there were then no matter what the score. And then they missed the extra point to send it to overtime. It's one of the craziest games ever, but happened in 2003 with the New Orleans Saints and we'd forget about it. I don't know if this one has the lasting power that we might think it does today. Good point, I agree with you. I would say this too. You can probably make the argument that the end of the bills Vikings game. Was wilder than the Raiders patriots with the fumbled snap at the goal line. You also have the whole Paul Allen thing of it. And you had to catch with Jefferson in the middle of that game. That to me is one of the games for a regular season game. Obviously, you know, postseason's a whole different story. But that for regular season probably the best game of the regular season. Probably. The thing about the Chandler Jones Jacoby Myers thing I kind of wish Chandler Jones didn't pick it off 'cause I wanted to see what Mac Jones would do at that point. He's like all by himself on his own 30. If he catches that ball, what the fuck is gonna happen? Yeah. What is gonna happen? Oh my God. I thought he might run it in, because he got that like 40 30. I was actually live, but it was crazy. I know. I would just say that the real lasting thing, why it's got a little special taste to it, is because it happened with the Patriots head coach on those sidelines. Like, that's the last thing you expect. And yet, the Miami miracle, this miracle. That's two plays in 5 years that are just inexplicable losses at the final seconds. I had a buddy of mine, Matt dollinger, who I used to work with these now at the ringer. He asked, he's a big colts fan, and he had asked me, Meyers play eclipse the all time famous cults fake punt. Yeah. The dumbest play in NFL history, and I said, I think it's in apples and oranges thing because the colts thing was like a design play call, whereas the patriot thing was on an individual player. So it's a hard comparison. I said, I think the
"yearend" Discussed on SI Media Podcast
"Now, Jimmy to your point, I haven't seen a ground smell of jets players come out and support Zach Wilson over the last 6 weeks. Right. And you do see them, I mean, they love Mike white. You know, all of my white. I got trouble. I got in trouble with a player though. Do you want me to give you a quick one? Yeah. I was on Simmons podcast, which has been a great platform for me. Everyone listens to that. And I sometimes will say things in passing and not realize that the entire sports world doesn't build Simmons podcast on Fridays do a $1 million picks. And I said that Sean Payton was in town for a game against the Raiders during the week and he stopped by the team and on Simmons podcast. I said he spoke to the team, give a little pep talk, whatever they went out and they won 24 to nothing. Fact of the matter is he did not give a pep talk. He was in town and he wasn't a facility. And I said it in passing a pep talk was the wrong word, obviously. And local media in New Orleans picked it up and they were like, if this is true, what an indictment on Dennis Allen, and if this is true, what a ridiculous story that Sean Payton who comes from the Fox booth from LA comes in on his cherry and turns out I was wrong. He was a wrong trying to phrase. I hand up whatever. And then Alvin Kamara starts coming at me on Twitter, and I'm like, gosh, I've known Camara for his entire career. And I'm like, and then you get in that spot where you're like, do you lay down? Do you want to bite back? Because Camara, maybe not necessarily having the best season, and maybe it's not Peter schrager's fault that these teams, and you just got to say, all right, you got to put yourself in their shoes. The saints players, it's been a rough year. Camara is a great player. He's been a great player in this league. Just take the L as you remember the media. You're not an important. So I took the L on that one. I was wrong. But that was a good lesson. Also, watch what you say and the wording actually makes sense. So it sounds like I was an outright lie when it wasn't outright, it seems the wrong word wasn't a pep talk. But you handled it well. If you were wrong, you were wrong. And you said, hand out. Until right now when you sort of passively aggressively caught out Camara and got back at him just a second. And by the way, Dennis Allen has killed my guy Andy dawg. But whatever, keep going. Your guy, Andy Dalton. Do you know, you know, he's gone four games without a pick, Peter. No big deal. You could talk about it a little more. They have a chance to make the playoffs. We're saying this on Thursday we're recording this. If they win this weekend, they got a shot, man. All right, now we've gone off the rails break it down the same. This happens every year. I bring up Andy Dalton and you still bring it back. Let's do a little recap of the year what we loved, what we hated, best words, do all the cliches. I want to start with something. We'll do categories. Oh, I like this. I mentioned this on the pod last week. Where when you do yearend stuff, you sort of forget what happens the first 8 months of the year, everything. So there's two things I want to address. Let's start with this. Because it
"yearend" Discussed on SI Media Podcast
"Year in a row. I am the year final podcast, final SI media podcast of the year with Peter schrager from good morning football and Andrew pearl off from the Maggie and pearl off show on CBS radio. We've done this now. Like I said, this will be the third year. We just really just have a conversation about the year in sports media, riff on a lot of things, TV, movies, pop culture, sports, best plays, best media stories, best people in media. So hopefully you guys enjoyed if you've never heard one of these yearend episodes, give us some feedback, leave me a review on Apple. Let me know how you enjoyed the pod. Before we get to it, just a quick reminder if you missed any recent episodes of the SI media podcast, strong, strong guests over the last ending here to the year. Brian Curtis from the ringer was on last week to do a little year in sports media review. Greg Olson from Fox Sports two weeks ago, Richard dyche, who covers sports media for the athletic three weeks ago, Mike tirico, Kevin burkhart, Joe buck, Jim nantz all on the SIP media podcast in recent weeks. So going to the archives, give them a listen, subscribe, and like I said, leave a review on Apple, and we will get to it. No Sal this week. He's all celebrating. So I'll be back next week with train of thoughts. This entire episode with schrager and Paul off his one big train of thoughts basically with those two awesome guys. So enjoy it. Let me know what you think. Shoot me an email, Twitter, leave a review on Apple. I want the feedback as much as possible. And then like I said, subscribe to the pot. All right, here we go. Yearend episode of the SI media podcast with Peter schrager and Andrew pearl off right here. On the SI media podcast. All right, joining me now, we've already done a podcast before we started taping the podcast.
"yearend" Discussed on SI Media Podcast
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"yearend" Discussed on Bloomberg Radio New York
"Rate? I think into the outlooks of next year, there's a huge mystery to that. Yeah, I mean, I think our rate of 5 25 to 5 50, you know, it's not necessarily the most dire situation. We do have the unemployment rate rising. That is enough of a high enough rate to cause a mild recession. But we're not talking 7, 8% unemployment. We've got it getting too good. Do you see evidence of a labor market troubled? I just don't see the evidence other than the flash of tech and maybe the flash of every financial institution except Citigroup. Yeah. I just don't see the evidence. No, we wouldn't yet either, but I think if you start with the assumption that the fed will do what it takes to control inflation in our view that's getting rates at least to 5 25 to 5 50, potential upside still. That means that they need to see a loosening in the labor market. And we're not seeing it yet, you know, for sure. But as we're getting into the middle of next year, we would expect that you're seeing starting to rise in the off hours. Veronica stay with us radio and television. Good morning to you, an economic set of data at 8 30 here that moved the markets. No question about that. Yes, it's a Thursday before the holiday. Yes, it's boring. No, it's not. Futures, deteriorate negative $20 futures, less or so. I'm going to call it down one 21. NASA, down 7 tenths of a percent. Excuse me there. 20.36 on the vix and Lisa earmark. Now at three basis points, the two year yield higher yield 4.24%. I guess it's a Jerome Powell. He is going to raise rates feel. It's a feel that perhaps we can't be complacent in this bet that we're just going to continue with a disinflationary impulse in Veronica. We start going into the granularity underneath it. It becomes very interesting because we can see that some of the disinflation in goods changes course next year. Are there other areas like that where some of the aspects of the inflation rate that have brought down inflation this year will reverse and go the other way next year I think about oil prices, gasoline costs, I think about what you're talking about with used cars. Are there other components as well to cause more goods inflation next year than people are currently accounting for? Yeah, I think there are definitely are still some underappreciated maybe upside risk to goods prices. I think most people expect that supply chains have been correcting goods demand as much softer. Yes, commodity prices are lower too. And that means, you know, softer core goods prices. But there are some upside risks, you know, if we're getting into a cold winter, you know, higher energy costs. China reopening, you know, if there's a lot of people who are falling ill and not being able to work and that creates new supply issues, that there's definitely some upside risk to goods broadly, not just cars. Veronica, thank you so much. Greatly appreciate it. Veronica Clark, with us a city group is we have a moving market here off buoyant GDP as well. I guess it's claims and fully employed America, at least it gets it going, but I'm sorry a 3.2% statistic on GDP is stunning, ending September 30. And what's it driven by? Personal consumption. I'm 2.3% versus the initial read of 1.7%. But this isn't just initial read. This is the third revisiting of the data. It kind of speaks what we're talking about, how complicated it is right now to get a clean read on what's going on given all of the different inputs that are moving at different paces. Tom Purcell, he publishes moments ago with RBC capital markets along that line to consumer how resilient and I think we heard today that surprised some Peter hooper Deutsche Bank from John Gollum and strategy at Credit Suisse. That's a surprise here into the season and with what I have to cook for Christmas dinner. I'll be adding to the consumption. Oh yeah, I thought you were doing the hand. I think I've got to make like three stops at four grocery stores or something, you know? Can you measure the lines are going to be like at the grocery store? I guess you're going to find out you'll do some front line reporting. Do you read the magazines when you're in line and put them back? Do you do that? I haven't done that since I was about 15. Yeah, exactly. Look, this is going to be an interesting holiday moment because people still have jobs. And the sentiment read that we just got that was higher than expected speaks to that. People are levering up yes, but they're also getting wage gains. How do you parse this into the consensus maybe a month ago that we're going to have a recession next year at the beginning? I'm looking at 7% plus nominal GDP. I'll defer to the experts 3.2% at GDP against all that gloom of last summer as well. And I go back and dare I say it is not too America. It's three Americas. There's an America that all the politicians, everyone has to decide is a lost America. You know, it's always been there. I think it's grown as my op-ed for the day. But then there's an America dealing with their recession, dealing with their inflation in spades without wage growth. I will say that probably the quote of the morning comes from bespoke investment group is market participants try to parse through all of these vagaries, make a game plan and stick to it, unless it's not working. Yogi Berra. Coming up, we're going to discuss that. We're going to discuss the multi tier. Exactly. Peter share academy securities and my top list of Richard Bernstein advisers. As I take off, I'm going to leave and won't be taken. Are
"yearend" Discussed on Bloomberg Radio New York
"Tesla will make sure that this is a gem a gemstone for the area for Germany for Europe and for the world The 5 and a half $1 billion plant will boost Tesla's capacity to make electric sport utility vehicles This will be key for a Tesla's goal of capturing Europe's expanding EV market He said that Tesla would target making 5 to 10,000 vehicles a week by the end of this year And meanwhile Volvo says it will struggle to meet its production forecast for this year the Swedish Chinese carmaker now expects only marginal growth in deliveries Earlier Volvo had said sales volumes would rise The company says production has been impacted by shortages of semiconductors but that the supply is gradually improving Still supply disruptions are expected to last through the second quarter Smartphone giant Xiaomi defied analyst expectations and reported a 40% jump in net income Sales were up 21% Xiaomi managed to grow its worldwide smartphone shipments in December during the holiday season The gains came despite prolonged component shortages and fluctuating producer prices in the second half of last year Xiaomi also disclosed that it will begin buying back as much as $1.3 billion of its own shares under a previously approved program It joins Alibaba and other Chinese giants that have accelerated stock repurchases after a brutal market sell off Xiaomi was up 6.6% in the U.S. session Alibaba up 11% All right let's get over to Doug prisoner now for a check of market action Doug So we're talking a lot about the fed pivot to this adoption of a more aggressive stance to fighting inflation I was struck by a new report from oxfam America If you're looking at the impact of rising prices oxfam America saying nearly 52 million U.S. workers that's roughly 32% of the American workforce earned less than $15 an hour So we know now if you look at what's been happening in the commodity market that the prices have been on a tear since the beginning of the year even before the war in Ukraine the Bloomberg commodity index is up 26% since the beginning of the year Oil pulled in ever so slightly in the New York session we have Germany and Hungary kind of putting the brakes on a potential embargo of Russian crude oil Brent right now is down about 7 tenths of 1% at one 1472 and we're seeing weakness right now in energy stocks in the Tokyo session of the 11 industry groups within the nikkei it's only energy that's negative On the positive side we have strength in communication services and consumer discretionary Also the benefit of that weaker yen here at one 21 30 or thereabouts the nikkei two 25 is higher by 1.8% In Seoul we have the Cosby rising by more than 1% and in Sydney the ASX 200 is ahead by half of 1% Speaking of inflation earlier we had South Korean producer prices rising in the month of February 8.4% year on year also seeing the Korean won stronger quite a bit against the U.S. dollar by about four tenths of 1% right now The entire US Treasury yield curve continues to trade at elevated levels at least in yield terms Ten year at 2.40% So we're up nearly two basis points now in the Tokyo session Two year at 2.17% So what is that 23 basis points now in the two to ten year spread Slope yes not quite flat but there is still a mild incline let's say We'll take another look at markets in about 15 minutes Juliet Thanks so much chuck 35 minutes past.
"yearend" Discussed on Bloomberg Radio New York
"Once again with our very special contributor Larry summers of Harvard So Larry one of the big surprises this week were those jobs numbers The estimates were 125,000 came in at four 67 also there were over 300,000 jobs added for last month in a revision So what does that tell us Why are we so surprised by this A lot of its special factors they do especially yearend revision of the seasonal factors David I think the right takeaway for these numbers is that the economy is going strong and I think the most significant number in it may have been the 7 tenths of a percent almost 9% annual rate increase in wages in the last month It's hard to know exactly what to make of make of that But it sure looks like we've now got wage inflation in the United States at really a rate that is very strong and unfortunately since labor is 75% of all costs at suggest that apart from all the special factors used cars housing and so forth we're moving towards entrenching inflation at well above the target 2% rate Does this surprise upside and the jobs yield us one more piece of evidence that the fed is behind with respect to monetary policy And if so is the message of fed from this quite possibly You've got to move faster and bigger than perhaps even you thought There's no question with the benefit of hindsight that the fed is behind the curve I think it's important to say respecting the fed that the errors of judgment they made last summer and last spring were quite widely shared in the economic forecasting community But they were errors nonetheless And I think the feds got to catch up now and I rather doubt that bringing real interest rates up all the way to negative 2% which is about what's factored in right now Well let me just be specific with you over a month ago on this program You said there should be 5 rate hikes in 2022 Should it be even higher than that Look one of the very good things about Jay Powell's last press conference was he didn't say he was doing it but he in effect ditched a lot of misguided framework that the fed had talked about earlier when he talked about being humble and nimble And that's the way we've all got to be before the data So I don't think there's any need to judge right now whether you need 5 or whether you need 7 rate increases this year My best guess is that they're in the end going to need more than they now think and that markets have to be prepared for a rate hike at every meeting and they have to be prepared for the possibility that as the inflation process continues we might need to have meetings with more than a single 25 basis point rate But the data are very uncertain and we've all got a recognized and be humble About that So it's hard for me to know what will happen but certainly anyone who's not prepared for a rate hike at every meeting as a real possibility even with multiple rate hikes on occasion I think is underestimating the range of possibility Larry you would be the first one to say there's a risk in under tightening also a risk in over tightening Where is that balance in your mind right now What is the bigger risk for us over tightening or under tightening I didn't get an economy with 4% in declining unemployment rate with a record level of job vacancies and with wage inflation now on more and more measures above 6% I think the greater risk is that we under tighten and that we end up with an economy with underlying inflation above 4% And then there's no alternative at some point to do the kind of thing that Paul Volcker had to do at the end of the 1970s now We're not going to have double digit inflation We're not going to have 20% interest rates We're not going to have a recession of that magnitude but I think we are at risk of having something directionally the same We've already put that into put that risk into play with the delays that we have made and the more we earn on the side of letting inflation go and letting expectations rise the more risk we take Laurie one of the developments of this week was the beginning of the Olympics over in Beijing the Winter Olympics And we see a different system for ours both politically and economically being put on display for the world As we compete with China and other autocracies around the world where are we in that competition Are we as strong in our alternative both in a political sense and economic term as we were in the past I think we're going to endure and be strong and I think there are important respects in which people are going to look back at the way China is viewed right now And it's going to remind them of the way Japan was viewed in 1990 and it's going to remind them of the way Russia was viewed in 1960 that these things look like terrible threats but ultimately our system endures That's my best guess and I'm not sure But it does depend on our preserving the basis of our system And what's new and profoundly troubling is doubts about the presidential Succession process And not so much that there are people who want to subvert the process That's always been true But good mainstream people who don't have the courage to do what they know is right And work against and bring down those who would subvert the integrity of our election process And that's going to be a very important test for our democracy And I might say to all those who listen to this show who are involved in markets that one of the reasons why the American stock market has been so strong is that people believe so strongly in the rules law in the United States And that's why the multiples on a given stock are much higher when it's an American company than when it's the Chinese company Frankly And if our sense of rules law is called into question that's going to have in addition to everything else long term consequences for American asset values that we're not going to but we're not going to like That's not the most important thing but I think it's a significant thing And gives investors more interest than they may realize they have in these political debates And it is something we don't hear often enough It's not just politics politics are important but it's also the economy and our entire financial system as well Thank you so much to Larry summers of Harvard art Very special contributor here on Wall Street week Finally one more thought Spreading the wealth even to the goat It's that magical time of year on global Wall Street Bonus time with the reports of pools going up 30 40 even 50% Levels of three nitrogen of Bloomberg reports we haven't seen in a good long time Wall Street hasn't seen this level of excess in.
"yearend" Discussed on Retire South Shore Radio
"Head to the old country, the old side, I guess. Yeah, we have plans to go over I think in 22nd December and we'll be back before the new year are back on New Year's Eve. I just want to get over there. I haven't seen my mom and dad in since everyone. Everything changed. We see them on FaceTime and whatnot, but you know, with everything going on with mom, I want to try and get over there as much as possible as quickly as possible. And my sister, who is a non qualified physician, she's a physician by marriage in that her husband is a doctor, so Karen knows everything about everything, even though she's not actually a doctor. She's not hearing this, so they can make fun of her. She said that things are getting tighter again over there and places are closing. And she said to me the other day, she's like, I said, what do you mean everything's closing down? She goes, well, the nightclubs have to close at midnight. I said, do you really think that we're going to go to knife folks? I haven't been to a nice little years. So I just want to get into the country get over and see mom and dad and see all you guys. So we're all me and the girls are all really excited to get over there. So hopefully it's a success. And hopefully everyone is able to stay healthy and well heading over there. I'm super excited to get prayers for your mom and dad and let's hope that all works out. Ladies and gentlemen, until we meet again for Mark, this is Jordan saying, have a great week. This radio show may contain concepts that have legal accounting and tax implications. It is not intended to provide legal accounting tax or investment advice. By contacting our company, you may be offered information regarding insurance and fixed annuity products. Annuity guarantees rely on the financial strength and claims paying ability of the issuing insurer. Any comments regarding safe and secure investments and guaranteed income streams refer only to fixed insurance products. They do not refer in any way to securities or investment advisory products. Fixed insurance and annuity product guarantees are subject to the claims.
"yearend" Discussed on Retire South Shore Radio
"Home. Hopefully we're going to see her Christmas with COVID doesn't change anything for our travel plans, but she's home when they have care coming into the house because that's what my dad wants. That's what we all want is the ability to for somebody to remain comfortable without completely wiping out the other person's resources to live. So that's kind of how we would look at it as excess money that you're not going to need that inevitably is going to get taxed to you or to the next level, next generation. Maybe using that in a better way to cover that cost. What you just did for me and the audience is more general, but it's kind of what people can expect when they meet with you or members of the all hands analysis squad. And that is a clear in English understanding of what is happening what could happen in steps you can take. I keep coming back to communication, which is such an important part of all this. And the miscommunication. And your relationship over the years with clients, it grows beyond just facts and figures and numbers on a page. And I think you know what, I mean, I think we have a really great business. I think we have a really great client base and I've been fortunate to have been successful in this business, but it's not just about numbers. These are real people. And that sounds like I'm making that up, but they're real people and they mean a lot to me. They've helped my family get to the point where we're at. We've held their families. Make sure that they can maintain their lifestyles. So I'm really, you get a close bond with these people and it's really important to me that if something were to happen that we didn't leave any stone unturned, I think it's unfortunate that people lose sight of that sometimes in the investment and the retirement world that they're just looking at it as a number. And it's not numbers. My clients are people that we see continuously to help them with their work, but we see them continuously when it comes to the personal side of things. I say this to every single person in the seminars. And I say to every client, I always wanted to build a business where I would have clients that they would be the type of people that I would want to have a beer with, and they wouldn't want to have a beer with me. And over and above that, the type of client and relationship I want is, I want to be able to run into a client at stop and shop in norwell down the street on a Sunday morning and immediately burst into a conversation and not have to duck around the corner because you're anxious about what they might be thinking about what you did. So I've been fortunate to be able to build a business that way. Our clients have been wonderful with regards to how they would continuously meet with us and make sure that everything's on point and things are changed along the way. So that's the type of business that we have and that's how we would help people. So this is just a good opportunity on the radio to be able to tell people various ideas. I want to give as much information out there. And I realized that I talk at a million miles an hour. I am trying to keep it as simple as possible for clients. But I love this. I'm so passionate about helping people and little bits of knowledge that we have in order to look at things from a slightly different perspective. It's not like we're saying we got some super duper savings vehicle that you can use that nobody else has because everyone's got the same basket of stuff. It's just how you look at it, how you communicate it to a client and how they understand what you're doing is for their best interest. Right. That's incredible what makes the community we have in our office. And as we say, over and over again, you're all unique. We are all unique. Our own case is our own case. So if you have a specific question that's been nagging you, I would suggest taking advantage of the 15 minute no obligation strategy call. So you can call from anywhere. At home in your slippers and call this number to set it up because they do schedule these things and they're very helpful. Call 7 8 one 8 three 6 42 14 7 8 one 8 three 6 42 14, also visit retire south shore dot com. You'll find out all about the 15 minutes no obligation strategy call. It's a great way to get direct help. There's another thing that we've talked about at some point in the past, but it's so important above and beyond the money Mark and that's not forgetting to plan out how you're going to spend retirement. Not spending spend the money but spend the time. I think the money is obviously important because it allows you to do the stuff you want to do. But if you don't know what you want to do, that's a problem. I think we're both talking about is another issue that people make is that they have a gold Dayton when they want to stop working, but they fail to plan how they're going to spend their free time. And that's really important. You have to have something to retire to as opposed to something that you retired from. And yeah, you retired from your job, but you're retiring into the next chapter of your life in the next chapter could be almost half of the book. People live a long time in retirement. We talked about it, maybe earlier this year or last year about that to do list in retirement, putting together a hundred things, big, small, medium, a big one could be, we want to go to Italy, a small one could be. I want to run a 5 K, or I want to do something like that. But list all these things out. Sit down. We talk to clients about it. What are you going to do in retirement? It's not about money. It's about fulfilling and having fulfillment and having things that you are comfortable, passionate about, things that you give you a reason to get up in the morning and go and do something because it's difficult. It's really difficult for people to transition from 40 50, 60 hours a week to having all of that free time in retirement and it can be it can create depression. It can create just a bad environment for people to feel like, oh my God, I don't know what we're gonna do. We're gonna wait for the kids to come back from new I'm sure they're coming in a month and a half. You don't want that. You want to have your calendar full with stuff, you know, things that you want to do. Obviously you need to have the resources to do that. And that's why we'll help you. But make it that you have things that you're excited about doing and do them. If we learned anything about the COVID lockdown being in the house for several weeks or months even, with our significant others, we realized it's important to make those strategic plans for the future. The future is brighter and it will be a very important part of the move forward. Well, this is as usual been very, very helpful. We should remind people that if they go to the website, retire south shore dot com, they can link to all kinds of things. There are webinars happening all the time. There are upcoming seminars, the holiday season is here, so it's a little different schedule, but there's also the podcast that you can download and the newsletter. So a lot of ways to get information, but I remind you about the 15 minute new obligation call, set that up at retire south shore dot com and feel better about answering that question that's been bugging you for a while. So you're making plans now to.
"yearend" Discussed on Retire South Shore Radio
"Kind of talk about things that people sometimes do as they're getting into retirement up to retirement and then throughout retirement and then how you should potentially think about them and try and avoid them. Smooth and steady as the saying goes wins the race and it comes to things like this. If you have enough lead time and that's what we're talking about by doing the proper strategic and planning and so forth, you can really have a much smoother sale. So what's top on your list in terms of mistakes to avoid this time of year? And it seems like something that I would not say, but deferring taxes. Deferring taxes, it sounds fantastic in theory, right? You know, you put money into your 401k, you get a tax deduction for it or your 403 B or whatever your plan is that you have at your job or yourself employed. But you have to think about what are the long-term costs associated with that. And I'm not telling people to not fund your retirement accounts and put money away. I do it for myself and I do it for Lauren in the four-o-one-ks we have through the company, but you just want to make sure that you know what you're actually saving now and what you actually might end up paying in the future. Things like the obvious ones are required distribution that you have to start taking money out. But to simplify it even further, let's say a, you're in a 22% tax bracket, right? A federal tax bracket. And you're getting closer to retirement. So you're maybe you've saved if you've done an analysis, maybe you've saved enough money, but you want to continue to be able to take tax breaks and you don't have the usual stuff. So you're not itemizing, you're not doing those types of things. So maybe you just say, you know what? We're going to put more money into our 401k plan. We're in the 22% tax bracket and based on your retirement analysis, you're going to maintain in the 22% tax bracket in retirement. What if that tax bracket goes on? You know, it's 22 now. It's 20 something later. It's most likely the taxes are going to go up. So not only are you maybe getting that break putting the money in, but then you're going to pay more taxes on the other side. Now, can be different for people who are further away from retirement. But if you're within four or 5, 6 years of retirement, then you don't have enough time to justify the interest that you'll make on the taxes that you haven't paid yet. It's more we got a 22% break on this, but now the rates have changed and now we're paying 24 25 or whatever the new number is going to be in the future. We want to try and help people avoid that and through our strategies and our plans that we put together we can kind of show people, all right, based on the text buckets that you have, you have enough money saved to do X, Y, and Z, maybe we want to not have the tax deduction there. We want to take the burden of the taxes now because then you'll never have to pay taxes on that money again. Procedurally to Mark, let's talk about the all hands analysis approach, which is the key to success at social retirement services. This enables you and your organization to chart a course for people to use the nautical term. Talk a little bit about the all hands analysis approach here. Well, I mean, as you know, and as many of our listeners know, we're in the business of the money side of things. That's what we do. We help people structure their monies in such a way that they can supplement their social security and if they have a pension. Great. But they want to make sure that they're able to maintain the income level or the lifestyle that they want in retirement. And that's Paramount, but it's not just about that. We want to make sure that we're able to help them grow their money. We want to make sure that they're monies are positioned in such a way that they can continue to make money when things are good. Stay in front of inflation, which is key. And have options for unexpected expenses. And that happens all the time. Clients that follow unexpected expenses, hey, we just bought a house. We bought a second home or, you know, not fun ones or the water heater blues, something that throws you out of your monthly budget. You need to have money available there. The tax side of things, which we spend a lot of time giving people tax strategies. Obviously, we can't give them tax advice. But that's why we have Karen and her team who can making sure that they're able to maximize the brackets that they're in if that's advantageous for them. So they don't wait and wait and wait and all of a sudden they lose control and they're in a higher tax bracket through no fault of their own really through just being great savers. But they don't have control anymore. Then we look at it from the Medicare perspective, making sure that people are able to transition from group health insurance to Medicare and making sure they have the right supplemental plan. And I can tell you story after story of clients who would come in and they said, so overwhelming, you know, I don't know much Medicare part B relatively easy to sign up for. It's the supplemental plans. It's confusing. You don't know what you should have. And you don't want to find out at a time that you didn't have the right thing when you actually needed to have the right thing if you know what I mean. So we want to make sure that we address that, do malaria is fantastic with the clients who basically helps them and takes the guesswork out of what they should be doing. And then telling everything open a bow, you know, retirement, money, tax strategy, tax structure, health insurance, everything can be done and squared away, and it can all go out the window if you don't have the right legal documents and a state plan in place. And everyone has a state. It doesn't matter if you're a Rockefeller or if you have just social security or pension and you have a house, you still want to make sure that everything's directed to the people that you wanted to go to after you pass away. So the low cost three 99 legal documents that we offer for the entire state plan have been really well received and we want to make sure that people get those things done. That's dual band's analysis. Absolutely. And by the way, there's a need probably right now for you to get a question answered. I'm supposing that that's the case as you listen to shows like this. There is a very easy option and it's called the 15 minute no obligation strategy call and I'll tell you how you can set up one of these calls with members of the all hands analysis team. No obligation whatsoever, but if you're interested in one particular aspect that affects you and you just need to get that answer because it's been gnawing at you, then don't delay call 781-836-4214, we do realize we're broadcasting on the weekend, so leave a message. Somebody will definitely get back to you first of the week. Or you can just simply go to retire south shore dot com, the website here, and chart a particular time for that phone call. It's so easy a couple of clicks and you're in. It has helped so many people in so many different ways. So that's a terrific option. 781-836-4214 setting that up. So just wanted to make that mention. So let's continue. We have a little time left in part one of today's program, deferring taxes, always an important question. You point out the reason why it might not always be the best idea. What's another big major stop sign we should take a look at? Well, that's along the same lines, you know? Neglecting your end tax strategies and doing some planning with coming up towards the end of 2021, things that maybe you want to consider doing to help alleviate or eliminate or reduce your overall tax liability for the rest of your life and you don't want to miss out on these opportunities. People think, you know, April 15th is the general deadline for getting all the tax stuff done, but it's not. I mean, for the lion's share of the things that we do December 31st is the deadline. So you can't go back and say, oh, I wish I'd taken this money at the beginning of April. It doesn't work that way. So again, Karen and her team are fabulous with helping people do the filings. We have a great job of being able to structure some of the software we have to help people look at from a, I guess, a proactive approach of if you do this, this is what will happen. So some of the ideas as to how you maybe things you should be thinking about is some of the stuff is most people taking a standardized deduction that we meet with. But maybe, depending on what you got going on, it might make sense just to take one year and bunch up a bunch of itemized deductions that might have staggered over or basically were 12 months apart, but within the same tax year. And actually, itemize your deductions..
"yearend" Discussed on Retire South Shore Radio
"And let me just open up my belt a notch. It's been a weekend of feasting. And I hope you've had a wonderful Thanksgiving weekend yourself. I almost had to be rolled out of trouble. You went down there with I think there was 23 people they were hosting. And I think the actually with the amount that I consumed, it was probably like 26 people, but it's a great time year. The thing about it is that the Thanksgiving dinner in America is the same as it has the Christmas dinner in.
"yearend" Discussed on Bloomberg Radio New York
"On the signings of Jaden Sancho Rafael varan and Christiana Ronaldo A good AFC match by Monday Night Football as a three and two Tennessee times are hosting the four in one Buffalo Bills at Nissan stadium Buffalo is coming off a big win over the chiefs while the Titans knocked off the Jacksonville Jaguars The Boston Red Sox hosting the Houston Astros at Fenway Park as the ALCS continues tonight with the series tied in the game of peace Boston has Edward Rodriguez going on the hill of Houston countering with Jose equity I'm Dan Schwartzman that your Bloomberg world sports outdated Markets headlines and breaking news 24 hours a day At Bloomberg dot com the Bloomberg business at and at Bloomberg quick take This is a Bloomberg business lash And I'm Paul Allen in Sydney where we're seeing the ASX stronger now by two tenths of 1% We've got BHP though the world's biggest minor lagging a little That's off one and a half percent right now We had third quarter final shipments numbers from BHP a little earlier today 70.6 million tons for the quarter but that was down at 5% on quarter BHP grappling with labor shortages and border restrictions as well Japan and Korea opened at the top of the R nikkei futures now pointing higher by about half of 1% Korean features looking a little softer at the moment though We did see a mixed session for U.S. equities Now the dah a little weaker the S&P up about a third of 1% The NASDAQ higher by 8 tenths of 1% Tesla performing particularly strongly up 3% and will have earnings from Tesla tomorrow A lot of action in the bond markets and big moves in particular in Australia and New Zealand bombs at the Aussie 5 year yield up the yogurt and the U.S. flattening as well The gap between 5 and 30 year notes shrinking to its narrowest since April last year a BlackRock though thinks that bond markets have gone overboard on inflation fears and expectations of fed rate increases Take a look at oil currently pretty steady but still very high at $82 48 for a barrel of West Texas at the moment and speaking of high Bitcoin knocking on the door of 62,000 and approaching a fresh record as well A little later on we'll hear from the RBA minutes of the October meeting and rate decision out of Indonesia as well But the bank of Indonesia expected to keep the 7 day repo rate unchanged at three and a half percent and that is your market update Time now for chick of global news their baxters in San Francisco All right thank you Paul UK.
Census Bureau to miss year-end deadline to turn in population count
"U. S. Census Bureau will miss its urine deadline for the first time in 40 years. Correspondent Naomi Rockem explains it supposed to hand in numbers used to help divvy up congressional seats. The delay could also jeopardize President Trump's plan to exclude undocumented immigrants from the count. The bureau plans to deliver the population count of each state early next year. President Trump signed a memorandum in July aimed at preventing immigrants who are in the U. S illegally from being counted when U. S congressional voting districts were Next redrawn.
Census Bureau to miss year-end deadline to turn in population count
"To be the start of turning this year's census results into political power. But the Census Bureau announced the results will not be ready until early 2021. That delay will have big implications on how many electoral college votes and seats in Congress each state gets for the next decade. NPR's Hansi Lo Wang covers all things census related. He joins us from New York to explain what this means. Good morning, Hanzee. Hi, Leela. So this delay was confirmed to you by a source last night. Can you break down? Why this is so significant? What was supposed to happen today was new state population counts from the census. We're supposed to be reported to the president by the Commerce secretary who oversees a Census Bureau. These are the numbers used to determine each state share of seats in the House of Representatives. As well as electoral college votes for the next 10 years. But a loss is today's the last day to report those numbers. But this year, the Census Bureau is missing this reporting deadline. For the first time since I was put in place more than 40 years ago. There's no penalty for missing this legal deadline, but that does further complicate an already messy census process. So
American plans flights with Boeing 737 Max by year-end
"In the illusion islands. Passengers could be flying on Boeing 7 37 Max jets before the end of the year. American Airlines says it plans tohave one passenger flight today on a Max starting December 29th and running through January 4th. It will make a future decision on whether to extend that the daily flight would connect Miami and New York passengers would be notified that they're booking a flight on a Max. Passengers can start booking for these flights on Saturday. Radios Chris Sullivan reports. The planes will only fly after their re
Theater Chain AMC Says It Could Run Out of Cash by Year-End
"AMC theaters is in danger of running out of cash by the end of the year. The theater chain warned that if movie goers don't return to theatres in greater numbers soon, existing cash resources would largely we depleted by the end of 2020 or early 2021. The company also revealed that attendance for 494 of its 598 locations Has dropped by
Theater Chain AMC Says It Could Run Out of Cash by Year-End
"Of of cash cash for for the the big big theater theater chain. chain. I'm I'm going going to to run run out out of of cash cash by by the the end end of of 2020. 2020. Final Final numbers numbers Down Down down down 1 1
Theater Chain AMC Says It Could Run Out of Cash by Year-End
"Another large movie theater chain, says it may not be able to whether the pandemic AMC says without raising more funding the company could be out of cash. By the end of the year. AMC has reopened nearly 80% of its 598 theaters in the United States, but says attendance is down about 85% from a year ago. General Group, one of his biggest competitors, announced last week that it was suspending operations indefinitely at its U. S
AstraZeneca vaccine could still be ready by year-end, CEO says
"CEO of drug maker. AstraZeneca says a covert nineteen vaccine that it's developing. The University of Oxford could still be ready by the end of the year yesterday. The company said it paused it's late stage trials after participant in the UK developed an unexplained illness. Astra Zeneca has signed vaccine deals with several governments including the
U.S. plans massive coronavirus vaccine testing effort to meet year-end deadline
"Tastes have been on the hunt for something that could shut this virus down and give us our lives back. A vaccine. A few months ago, there was a lot of excitement. As the very first clinical trials for the coronavirus began, it was in time. The search for coronavirus vaccine has become one of the fastest moving in history. That scenes usually take years not months to produce. This is happening warp speed. Never before hundreds of scientists are over the world and focused on the same thing at the same time creating a vaccine for covid nineteen. And more and more vaccine candidates are entering the fray. Were at the point, where around a dozen clinical trials are on the go. Hundreds of people volunteered for jab in the arm to test old kinds of different vaccines. As part of this scientists are taking some be gambles. The vaccine were looking at is incredibly modern type vaccine. It's not the traditional way building a vaccine, so we're going as fast as humanly possible. Many of them are not traditionally vaccine companies. They are using novel ideas from oncology things. They've learned treating cancer. It's never been used in a vaccine before. And if one of these gambles payoff, it could be huge, we could get a vaccine soon. The US government says that the goal is to get a vaccine to Americans by January twenty twenty one. They're calling this nation warp speed. And if it could be done, this would be unprecedented. So could we really be celebrating twenty one with Champagne and shot in the arm to fight the coronavirus? And? What would it take to make that happen? That's Today on the show. Because when it comes to getting a vaccine, it feels like this is happening at warp speed, but then there's. Science. Scientist is when on Earth Are we getting? This vaccine is coming up to stop to the break. This episode of science versus is sponsored by Phillips Sonacare the electric toothbrush that combines decades of science and engineering to master the art of brushing with sixty two thousand brushstrokes minute you've got a month's worth of brushing in just two minutes for better checkups, guaranteed or your money back visit Phillips. Dot Com slash sonacare. This episode of science versus is brought to you by AFLAC. That lovable duct does more than just say. AFLAC access a safety net when the unexpected happens by helping with the expenses. That health insurance doesn't cover. Get to know them at half dot com. Welcome back. So back in January. We had from people like Anthony Fauci that we could get a vaccine in twelve to eighteen months. That could mean early next year. And in the land of vaccines, these would be record breaking. It often takes something like ten years for a vaccine to from the lab to the doctor's office. So can we really do it? Get Out of this pandemic by January, before Santa even catches these brands. Well to get them labs. All around the world s around experimenting with different kinds of vaccines. But they all have the same goal to train our immune system to recognize and killed this coronavirus. And to do that, many vaccine developers have homed in on one thing. Progress. And northwestern told us all about it. If you think about the picture that you've seen corona virus like everywhere, and it looks like a ball with little points coming out. Those points the spike. Spike protein you know it, I, know it. It's the most famous spikes in Spike Lee and the most famous protein since. College Eddie right. This spike is so important because it's a major thing that tells our body weight this virus. It doesn't belong here. That actually is what argue system fees most readily. It sees the spike. After our meeting system sees the spike. It lends to recognize quickly. Respond to it by creating things like antibodies to fight it, and then some of those antibodies hang around so that if the virus shows up, then the virus will just be cleared away by our immune system. So that the next time we see that disease, we don't get sick in the first place, so if you making Exane, how do you get your immune system to quickly recognized this spike? Well, one way is that scientists can take rhinovirus and then make less dangerous. Say They Kill the virus most comedy vaccines are made by growing up the virus. And inactivating that virus sometimes with the chemical, sometimes the heat, and then that is then injected. An otherwise scientists can do this version of the virus. That's too weak to make you sick. And this is how we make a lot of vaccines familiar with things like the measles and chickenpox and flu vaccines. It's tried and tested. We know it can work and some companies are going this way to try to make Alka, rhinovirus vaccine. But other groups at. This meat and potatoes vaccine method they using new attack more experimental ways of building vaccine. And these experimental methods getting a ton of attention and funding right now, because governments and big. Pharma hoping they'll deliver the goods pasta. So for they use instead of giving you a whole coronavirus, these vaccines, basically using genetic material from the coronavirus, and then they're plopping that into your body. And scientists have chosen a very particular piece of genetic material spike. It's the recipe for the spike, protein. And this can come in a couple of forms. One is called. Our body will see that as a normal M Arnie and just translate into a pro team. Wow, so this. If this vaccine works, it would encourage your body to make little corona virus proteins. Yes that's that's the idea. Wow, that seems so futuristic. As as is, that's really cool right, so you're getting the body degenerate that protein for you yet, so these spike proteins that your body has made will then be floating around and the idea. Is that your immune system? We'll see it. Make antibodies send Ta. You'll have immunity. And many of the vaccines in this race, delivering this genetic material to us in different ways, so some shopping Marin into a ball of fat, so that your cells will slip up while other groups trying to smuggle in that code using get this a totally different virus one. That weren't hurt you. Is it fantasy that they've taken a different virus? And then they're like like Halloween the dressing at all like the corona virus, yes. Say. So this all sounds a little bunk is mad. The question is will it really work that is. Will these vaccines protectiveness if we get exposed to the coronavirus? Because if they don't. Like on a useless. My boss is to stay if it's just dishwater that you're not gonNA get anywhere. This is Katie Stevenson. She's a doctor working on vaccine development at Harvard and she says that one of the key ways will know if a vaccine is working is if it makes you produce antibodies. And she's looking for not just any antibodies. But neutralizing antibodies, what what is a neutralizing antibodies? So a neutralizing antibody is an antibody that binds to virus and neutralizes it. This is the dream right? Yeah, exactly right inches binds to the virus and prevent it from entering a cell. So the body sees that and just thrown in the garbage to this is what Katie is going to be looking for. In the results of all these clinical trials, and if she doesn't see these neutralizing antibodies, shelby thinking well, that was kind of done. And Katie says I dealing see a lot of these. So! What's a lot? Well you measure milk leases. Okay so I've measure milk. And you can measure antibodies titus. So one study, which looked at people who had been infected with this virus, and then recovered found the antibody. Titus tended to be at least one hundred. And when Katie's colleague vaccinated monkeys with an experimental vaccine, they found that having similar antibody Tom of one hundred protected them from getting infected. So while we're still learning a lot, he all I have been kind of looking for one one hundred. Okay, that's it's nice, poetic, great one hundred yeah! We have a handful of results that companies have released from different clinical trials, but just one paper that's published in a peer review gentle. It was from a Chinese local company who injected more than one hundred people with one of those new fandango vaccines and it was back in March. They tested three different doses. And Katie says they didn't get. This antibody tighter. Like at the highest dose averaged around Bootie for you know I was a little bit disappointed, so a little bit reserved I'm happy that it elicited an immune response because that's not a given. Sometimes, it's just zero zero zero but I would've liked to see something closer to like one hundred another company. Medina injected forty five people back in March with the vaccine, and they said that eight people had good levels of neutralizing antibodies. But they didn't tell us about the opposite in the trial. When we asked dinner about this, we didn't hear back to Katie is holding out for more info. Yeah, I just wanted to see the rest because it is immune. A- promising I'd put promising right on there. But I do not know which one of these is GonNa work if any, and that that is the actual fact truth so I try not to stray from that, and there are other FAC truths to nail down him. Even if these vaccines do make you produce produces, antibodies will still have to make absolutely short that you'll protected from the corona virus. If you do get exposed, and then if you protected, we'll have to work out how long four so you might need. More than one shot of the vaccine say a booster shot in a or so.
American Airlines expects to halt cash burn by year-end, shares jump
"Scott American Airlines put out a statement today which forecasts a ninety percent downturn second quarter earnings this follows a similar report from delta airlines American has been burning through cash but the airline expects to burn to cease by year's end as travel demand picks
Analyst predicts year-end rebound for AAPL as stock jumps nearly 5%
"Watching. China as the corona virus started was informative. Perhaps watching it now will be as well. Marketwatch had Barclays Analyst. Tim Long issuing an upbeat. Note about Apple's rebound in China late Wednesday. The according to that iphone recovery in the middle kingdom seems to be stronger than for its peers with sales of iphone. Eleven and iphone eleven pro showing signs of improvement. He's also turned on by sales in China of IPADS and air pods both of which are up. Thanks to an increase. In remote schooling while marketwatch calls the note upbeat there were some less than rosy moments one is his thinking. That apple is delaying the release of the anticipated though on announced iphone. Se to another is the possibility he sees about having to delay the expected fall. Introduction of a five G. IPHONE NO APPLE BOWL is our Mr Long. He's got a hold rating on apple shares and a price target of two hundred ninety seven dollars with apple closing Thursday at about two hundred forty five dollars though he should probably either up that rating for lower as target
Wall Street slips from records as investors lock in year-end gains
"Stocks ended lower as investors locked in some of their big gains for the year that are Jones industrial average tumbled one hundred eighty three the S. and P. five hundred fell nineteen as that composite lost sixty
North Korea begins key meeting before year-end deadline for US
"It one of happened those challenges during a Hanukkah celebration is North Korea in Muncie as the the U. suspect S. awaits Grafton what Thomas's Kim Jong pleaded un called not guilty a Christmas to five gift counts of attempted national murder security Joseph adviser Gluck confronted Robert o'brien him in the home told he ABC's took out his this week nice what words from a will holder be done is thought of if it it's a long hitting range people back missile and forth or nothing nuclear this and tests the Glock chase will Thomas reserve into the street was judgment able to get but his the United license States plate will take number action that as we led do in police these situations to capture him and in New York City that's that's governor a Cuomo calls if the attacks Kim Jon un and others takes like that it acts of domestic approach terrorism will be extraordinarily this is an disappointed intolerant in them while I will time demonstrate in this that disappointment country negotiations between we see the US anger and North Korea we see have been stalled hatred since the second exploded summit between this Kim attack and comes president on the heels trump of a in string February of attacks targeting shelling out Jews there not Washington just in the state but in the country I'm Julie Walker
N Korea begins key meeting before year-end deadline for US
"North Korea begins a key meeting ahead of a self imposed year end deadline for Washington to make concessions in nuclear negotiations the high profile political conference comes as the U. S. and national security adviser Robert o'brien still await what Kim Jong un called a Christmas gift chairman on is said that there would be something over Christmas I think the president has engaged in personal policy at a at a very high level with him over the years and now they have a good relationship personally hi this so perhaps he's reconsider that some observers predict North Korea might use the conference to announce it would abandon faltering diplomacy with the US and lifted its moratorium on major weapons test o'brien appeared on ABC's this week shortly after Washington
N Korea begins key meeting before year-end deadline for US
"The high profile political conference comes as the U. S. and national security adviser Robert o'brien still await what Kim Jong un called a Christmas gift chairman on is said that there would be something over Christmas I think the president has engaged in personal policy at a at a very high level with him over the years and now they have a good relationship personally hi this so perhaps he's reconsider that some observers predict North Korea might use the conference to announce it would abandon faltering diplomacy with the US and lifted its moratorium on major weapons test o'brien appeared on ABC's this week shortly after Washington
Wall Street at record highs as year-end rally continues
"Wall Street is trading near record highs at the moment as investors have paused after the year end rally but all three major U. S. stock indices opened at record highs as traders cheered upbeat economic data from China but then quickly cut gains in the absence of any new information on the China U. S. trade agreement taking a look at some of those stocks that are making some news this morning shares of Tesla touched another record high after the electric car makers said it would begin delivering it's trying to made modeled three vehicles on December thirtieth Netflix and the alphabet were among the biggest drags of the S. and P. five hundred and the nasdaq the so called flying a group of stocks have logged a good run over the past decade shares of Netflix of forty one hundred per cent in but period so the numbers now the Dow industrial average up sixty five points the S. and P. five hundred up for the nasdaq down a point Vicks of the CBO we is trading higher in its per the nearly half a point at thirteen ten the grain trade Chicago board of trade wheat making a big advance again today with the March wheat contract a tanned and three quarters cents a bushel March corn is up a penny and a quarter and January soybeans trading lower down three and a quarter cents at nine dollars thirty four cents a bushel livestock futures Chicago mercantilist Jane's the April lean hogs gun drug trading lowered down forty seven cents on Broadway December live cattle up seven cents and January feeder cattle down seventeen cents a