YOLO is dying. That could be bad news for the economy

CNN Business06-04

A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2440281774?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-06-04 19:35","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2440281774","market":"us","top_or_hot":-1,"title":"YOLO is dying. That could be bad news for the economy","media":"CNN Business","content":"<div>\n<p>A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the ...</p>\n\n<a href=\"https://edition.cnn.com/2024/06/04/investing/premarket-stocks-trading/index.html\">Source Link</a>\n\n</div>\n","source":"cnn_highlight","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>YOLO is dying. That could be bad news for the economy</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nYOLO is dying. That could be bad news for the economy\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-06-04 19:35 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://edition.cnn.com/2024/06/04/investing/premarket-stocks-trading/index.html><strong>CNN Business</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the ...</p>\n\n<a href=\"https://edition.cnn.com/2024/06/04/investing/premarket-stocks-trading/index.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0980610538.SGD","symbol_name":"Natixis Harris Associates US Equity RA SGD-H","start_time":0,"source_url":"https://edition.cnn.com/2024/06/04/investing/premarket-stocks-trading/index.html","article_id":"2440281774","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2440281774","pubTimestamp":1717500921,"sourceInfo":{"source_id":"cnn_highlight","name":"CNN Business"},"weMediaInfo":null,"summary":"YOLO economy, meet the “yo, no” economy.Not so long ago many of us were willing, if not eager, to shell out on fancy new TVs, upgraded bathrooms and kitchens, Peloton bikes and bottles of the good stuff. Things have changed. This summer, our bathrooms are outdated and our champagne bottles corked.“Covid showed all of us that life doesn’t go on forever,” Sameer Samana, senior global market strategist at the Wells Fargo Investment Institute, told Before the Bell. “Preparing for a retirement that’s way off into the future and could be interrupted by something like a global pandemic changed our mindsets. People wanted to live in the moment.”“There is an element of ‘how long can I live in this PTSD post-Covid environment?’” said Samana. “At some point you do have to figure out what the new normal looks like. Employers want workers back more often in the office and in certain locations, you can’t work from anywhere anymore, that’s also changing mindsets. There’s this sense of reversion to th","collect":0,"end_time":0,"defaultTopTitle":"cnn.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU0980610538.SGD":"Natixis Harris Associates US Equity RA SGD-H","BK4588":"碎股","BK4550":"红杉资本持仓","BK4076":"电脑与电子产品零售","IE00B775SV38.USD":"NEUBERGER BERMAN US MULTICAP OPPORTUNITIES \"A\" (USD) ACC","IE00B3S45H60.SGD":"Neuberger Berman US Multicap Opportunities A Acc SGD-H","LU0234570918.USD":"高盛全球核心股票组合Acc Close","GME":"游戏驿站","BK4547":"WSB热门概念","LU0417517546.SGD":"Allianz US Equity Cl AT Acc SGD","LU1201861249.SGD":"Natixis Harris Associates US Equity PA SGD-H","LU0053666078.USD":"摩根大通基金-美国股票A（离岸）美元","LU0048573561.USD":"FIDELITY AMERICA \"A\" (USD) INC","BK4581":"高盛持仓","LU0640476718.USD":"THREADNEEDLE (LUX) US CONTRARIAN CORE EQ \"AU\" (USD) ACC","IE00B1XK9C88.USD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A\" (USD) ACC","LU1280957306.USD":"THREADNEEDLE (LUX) US CONTRARIAN CORE EQUITIES \"AUP\" (USD) INC","LU0234572021.USD":"高盛美国核心股票组合Acc","IE00BKDWB100.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5H\" (SGDHDG) ACC","LU1914381329.SGD":"Allianz Best Styles Global Equity Cl ET Acc H2-SGD","AMC":"AMC院线","BK4176":"多领域控股","YOLO":"AdvisorShares Pure Cannabis ETF","LU0742534661.SGD":"Fidelity America A-SGD (hedged)","LU0251142724.SGD":"Fidelity America A-SGD","LU1363072403.SGD":"Fidelity Global Financial Services A-ACC-SGD","IE00BWXC8680.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5\" (SGD) ACC","LU0130102774.USD":"Natixis Harris Associates US Equity RA USD","BK4108":"电影和娱乐","BK4585":"ETF&股票定投概念","BK4534":"瑞士信贷持仓","IE00B1BXHZ80.USD":"Legg Mason ClearBridge - US Appreciation A Acc USD","BRK.A":"伯克希尔","BK4533":"AQR资本管理(全球第二大对冲基金)","LU0648001328.SGD":"Natixis Harris Associates US Equity RA SGD","CTA":"SIMPLIFY MANAGED FUTURES STRATEGY ETF","LU0971096721.USD":"富达环球金融服务 A","BRK.B":"伯克希尔B","LU0149725797.USD":"汇丰美国股市经济规模基金","LU1074936037.SGD":"JPMorgan Funds - US Value A (acc) SGD","BK4577":"网络游戏","LU0256863811.USD":"ALLIANZ US EQUITY \"A\" INC","LU1571399168.USD":"ALLSPRING GLOBAL LONG/SHORT EQUITY \"IP\" (USD) ACC"},"translate_title":"约洛快死了。这对经济来说可能是个坏消息","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"YOLO":1,"AMC":1,"GME":1,"CTA":1,"BRK.A":0.9,"BRK.B":0.9},"content_text":"A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link.\n\n\n\nNew York\nCNN\n         — \n    \n\n\n            YOLO economy, meet the “yo, no” economy.\n    \n\n            Not so long ago many of us were willing, if not eager, to shell out on fancy new TVs, upgraded bathrooms and kitchens, Peloton bikes and bottles of the good stuff. Things have changed. This summer, our bathrooms are outdated and our champagne bottles corked.\n    \n\n            Americans emerged from pandemic lockdowns with better jobs, extra spending money and a burning desire to live life outside of the confines of their own abodes, regardless of the price. In what was dubbed the YOLO economy (short for “you only live once”), or revenge spending, consumers shelled out for the experiences and goods they had missed.\n    \n\n            “Covid showed all of us that life doesn’t go on forever,” Sameer Samana, senior global market strategist at the Wells Fargo Investment Institute, told Before the Bell. “Preparing for a retirement that’s way off into the future and could be interrupted by something like a global pandemic changed our mindsets. People wanted to live in the moment.”\n    \n\n            Now, five years after the onset of the pandemic, the free-spending party is coming to an end. And that may be bad news for the economy.\n    \n\nWhat’s going on: Consumer spending is falling back to earth, and even the highest-income Americans are turning to discount retailers like Walmart. Target is slashing prices to lure reluctant shoppers back into their stores, and sweet-treat shops like Starbucks have reported that sales aren’t growing like they used to be — a Frappuccino no longer feels like a necessary expense.\n    \n\n            So what’s happening? Inflation is still elevated and consumers are running out of their Covid-era savings, the job market is beginning to tighten and workers are getting worried about losing their jobs.\n    \n\n            There’s also another explanation: Americans have gotten their post-Covid ya-ya’s out and are ready to tone things down again.\n    \n\n            “There is an element of ‘how long can I live in this PTSD post-Covid environment?’” said Samana. “At some point you do have to figure out what the new normal looks like. Employers want workers back more often in the office and in certain locations, you can’t work from anywhere anymore, that’s also changing mindsets. There’s this sense of reversion to the mean.”\n    \n\n            Well, they’re paring back in some areas. People are still willing to shell out for Taylor Swift concerts and plane tickets. Memorial Day travel was at its highest level in history, according to the TSA. But that means people are paring back their discretionary purchases and looking to trade down in everyday necessities, too.\n    \n\nWhat it means: We’ve written extensively at Before the Bell about how consumer spending saved the US economy from recession in the high-inflation and interest rate years following the pandemic.\n    \n\n            And it still continues to be the most important measure of a strong economy — spending accounts for about 70% of gross domestic product, the go-to measure of US economic health.\n    \n\n            So if that slows, that would be bad news and could potentially trigger the recession that economists began warning about way back in 2021. (Don’t worry, most economists at major banks and firms don’t predict that will happen anytime soon, and if it does happen, it might be not be a slowdown for everyone.)\n    \n\n            It’s also rattling markets and keeping investors on edge — the Dow dropped more than 1,000 points between Tuesday and Thursday last week on unexpected economic data. It dropped another 115 points on Monday after a report showed that the manufacturing industry had contracted slightly.\n    \n\n            “There’s really no indication that all of the factors weighing on the consumers’ mind are going to ease up anytime soon,” said Samana.\n    \n\nWhat comes next: These next two weeks will be important for investors, consumers and general economy-watchers. Official jobs data for the month of May will be released on Friday and analysts will pore over the numbers for hints about whether the labor market will continue to loosen.\n    \n\n            Next week, the Federal Reserve holds its policy meeting where officials will also release their outlook for employment, inflation and interest rates in the months to come. It’s highly unlikely that we’ll see any change in interest rates at that meeting, but Fed Chair Jerome Powell could provide some guidance on when the central bank expects to begin its pivot.\n    \n\n    The New York Stock Exchange suffered a bizarre glitch on Monday\n\n\n            The New York Stock Exchange said Monday that a technical issue that halted trading for some major stocks and caused Berkshire Hathaway to be down 99.97% has been resolved.\n    \n\n            In an update, NYSE said impacted stocks have reopened and “all systems are currently operational.”\n    \n\n            Intercontinental Exchange, the parent company of NYSE, has found no indication the glitch was caused by a cyberattack, a senior executive at a major bank in touch with ICE told CNN.\n    \n\n            Instead, an NYSE spokesperson said there was a “technical issue” with industry-wide price bands that “triggered” trading halts on up to 40 symbols listed on NYSE Group exchanges.\n    \n\n            NYSE noted that those price bands are published by the Consolidated Tape Association’s (CTA) Security Information Processor (SIP). CTA, an industry group, is responsible for publishing real-time trade and quote data.\n    \n\n            Dozens of stocks were paused earlier in the day, an indication they traded outside those so-called limit up-limit down bands, according to NYSE’s website. That list includes Chipotle and Berkshire Hathaway, the holding company run by legendary investor Warren Buffett.\n    \n\n            For nearly two hours, Berkshire Hathaway’s Class A shares were listed as trading at just $185.10 — a price that would represent a loss of 99.97%. Berkshire closed at $627,400 on Friday.\n    \n\n            NYSE announced it has decided to “bust,” or cancel, all “erroneous” trades for Berkshire between 9:50 am ET and 9:51 am ET at or below $603,718.30. The exchange said that ruling is not eligible for appeal and indicated it could cancel other trades.\n    \n\n            “We are monitoring the issue and engaging with market participants,” a spokesperson for the Securities and Exchange Commission told CNN.\n    \n\n            Joe Saluzzi, co-founder of Themis Trading, told CNN that the NYSE’s explanation is hard to square with the bizarre trades that hit the tape.\n    \n\n            “I’m not buying that explanation. That doesn’t make any sense to me,” said Saluzzi, a market structure expert and author of “Broken Markets.”\n    \n\nRead more from CNN’s Matt Egan here. \n\n\n    GameStop shares gain after meme stock influencer reveals $116 million bet\n\n\n            Shares of GameStop climbed 21% on Monday as the renewed frenzy around meme stocks shows little sign of abating.\n    \n\n            The video game retailer’s stock soared hours after a Reddit post by stocks influencer Keith Gill — also known as “Roaring Kitty” — revealed that he had bought nearly $116 million worth of the stock. GameStop’s stock surged as much as 75% earlier in the day before parings its gains.\n    \n\n            The post was the first on Gill’s Reddit account in more than three years, when social media-fueled hype around GameStop (GME) shares was in full swing.\n    \n\n            Meme stocks are shares that swing wildly in value based on their popularity among trader communities on social media rather than the companies’ fundamental characteristics. The frenzy started with GameStop in 2021, extending to other companies such as AMC Entertainment (AMC) and Bed, Bath and Beyond, which has since filed for bankruptcy.\n    \n\n            Shares of AMC Entertainment were up 11.1% on Monday.\n    \n\nRead more from CNN’s Anna Cooban here.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2440281774"}