Jim Cramer says he likes Corteva and Nucor for 2023

CNBC’s Jim Cramer on Monday offered investors two stocks to consider adding to their portfolios.

Stocks in the materials sector tend to be very cyclical, which means they could suffer if the US Federal Reserve’s rate hikes push the economy into recession, he explained.

And while it’s far from the best-performing sector in the S&P 500, “even the weakest of these groups have some winners who have managed to buck the overall trend, and it’s important to find out if they do.” can continue as before [this year] in 2023,” Cramer said.

Here are his thoughts on his two stock picks:

Corteva

Cramer recommended investors buy the seed and agrochemical company’s shares at its next retreat. He argues that strong crop prices this year have left farmers awash with cash and more likely to invest in efficient farming.

“Even though the stock is up 23% this year, it’s still selling for less than 19 times next year’s earnings estimates — far from expensive,” he said.

Nukor

He called Nucor the “best steelmaker in America” ​​and said he’s confident his stock will have a positive year in 2023 after demonstrating its ability to continue to post solid earnings results despite the Federal Reserve’s tightening publish. The company will also be a big beneficiary of the over $1 trillion bipartisan infrastructure bill, Cramer predicted. Nucor’s shares are up over 15% year-to-date.

“Remember, a year ago analysts thought Nucor could make as little as $16 in 2022, and they ended up beating those estimates. I wouldn’t be surprised if they put on a repeat performance,” he said.

Jim Cramer’s Guide to Investing

Click here to download Jim Cramer’s Guide to Investing free to help you build long-term wealth and invest smarter.

Jim Cramer’s Investing Membership Meets Monday: Industrials, Massive Tech

Senate passes week-long authorities funding invoice, stopping partial shutdown

US Senate Majority Leader Chuck Schumer (D-NY) speaks during a news conference following a luncheon by Senate Democrats in the US Capitol September 28, 2022 in Washington, DC.

Anna Moneymaker | Getty Images

WASHINGTON — The U.S. Senate approved a week-long extension of federal funding, preventing a partial government shutdown that was due to begin Saturday.

The measure, passed 71-19, gives lawmakers an extra week to negotiate and pass a sweeping federal agency funding bill during the fiscal year ending Sept. 30.

The U.S. House of Representatives passed its version of the week-long extension Wednesday by a vote of 224 to 201, with nine Republicans crossing party lines to support the bill.

While that vote was technically bipartisan, only one returning Republican voted in favour. The other eight GOP votes came from members leaving Congress at the end of the year, either because they are retiring or because they have lost re-election.

The Senate was under pressure Thursday to pass the law promptly and without objections from individual senators that could delay a vote on the expedited process to pass the measure.

“We should act quickly today to avert a closure without the unwanted fanfare that has led to closures for the past few years,” Senate Majority Leader Chuck Schumer said in the Senate Thursday morning.

CNBC Policy

Read more about CNBC’s political coverage:

Schumer promised that both sides would spend the rest of the day finalizing the seven-day draft “Continuous Resolution” (CR) bill.

The Senate vote on the stopgap CR came in the shadow of much more high-level negotiations currently underway over a massive omnibus spending bill that would fund all federal agencies through the end of fiscal 2023 next September.

On Tuesday night, the top appropriators in the House of Representatives, Rep. Rosa DeLauro, D-Conn., and Sens. Patrick Leahy, D-Vt., and Richard Shelby, R-Ala., the top appropriators of the Republicans and Democrats in the Senate , announced that they have reached a framework agreement to begin serious negotiations on a omnibus bill.

All three expressed optimism that omnibus legislation could be drafted and passed before Congress departs for Christmas on December 23.

Notably absent from the announcement, however, was top Republican appropriator in the House of Representatives Kay Granger of Texas.

House Republicans have little incentive to help Democrats pass spending bills before they take control on Jan. 3.

House Minority Leader Kevin McCarthy has publicly championed a series of CR bills that would only fund the government through January, allowing him and his new majority to tackle a broader spending bill when they have more clout.

Who had it good in 2022 – and who had it unhealthy?

Police officers enter the vandalized gate to Sri Lanka’s presidential palace in July. The country was hit hard by an economic crisis.

Abhishek Chinnappa | News from Getty Images | Getty Images

Curtis S. Chin, former US Ambassador to the Asian Development Bank, is the managing director of the consulting firm RiverPeak Group. Jose B. Collazo is an analyst focused on the Indo-Pacific region. Follow them on Twitter at @CurtisSCin and @JoseBCollazo.

As the new year approaches, we return to our annual look at Asia’s winners and losers. Government and business leaders in every major economy — now including China — may be hoping 2023 is the year when draconian pandemic-related lockdowns become history.

In our 2021 year in review, we named Afghan women and girls the “Worst Year in Asia” in the aftermath of the chaotic US and its allies withdrawal from Afghanistan and the return of Taliban rule. The “best year” went to Asia’s Cold War warriors, as social media, “wolf warriors” and politicians helped spark a return to Cold War rhetoric amid deteriorating US-China relations.

Now, with hopes that Covid is in retreat and inflation will ease in the coming year, let’s take a final look at who did well and who did badly in 2022.

Best Year: Comeback Children from Southeast Asia – Marcos and Anwar

Persistence proved the winner in 2022 as the year ended when Ferdinand “Bongbong” Marcos Jr. of the Philippines and Anwar Ibrahim of Malaysia became their respective countries’ leaders. One saved a family legacy, the other transitioned from prison to power – storylines worthy of a Netflix series.

In the Philippines, Marcos – the eponymous son of his authoritarian father – won a landslide presidential election in May despite what critics see as a family legacy of corruption and impunity. More than 35 years ago, in February 1986, senior Marcos and his wife Imelda fled to exile in Hawaii, driven by a People Power Revolution and the loss of US support.

And in Malaysia in November, Anwar finally proved victorious, shedding the long-held title of prime minister on hold to become his country’s 10th prime minister. Decades of smear campaigns, jails and backroom intrigues followed as the former deputy prime minister challenged interest groups with his vows to fight corruption.

The two now face the challenge of governing and advancing their respective countries. Stay tuned for the next episode.

Good year: Taiwan’s semiconductor chip maker

In a year when US-China tensions reached a fever pitch when US Speaker of the House Nancy Pelosi visited Taipei, the island’s sophisticated semiconductor industry is ending the year in good shape. Taiwan’s chipmakers are more important than ever.

Semiconductor chips are at the heart of everything from computers to cars to smartphones. A 2021 study by the Semiconductor Industry Association (SIA)/Boston Consulting Group underscored the crucial role of Taiwan’s technology industry, revealing that 92% of the world’s most advanced semiconductor manufacturing capabilities are located in Taiwan. The other 8% were in South Korea.

TSMC Headquarters in Hsinchu, Taiwan. The semiconductor manufacturer’s products are at the heart of everything from automobiles to smartphones.

Bloomberg | Bloomberg | Getty Images

A rare bipartisan U.S. Congress took note and passed the CHIPS and Science Act in July 2022, providing $52 billion in federal funding to spur continued domestic semiconductor chip production. In December, the world’s leading chip manufacturer Taiwan Semiconductor Manufacturing Co (TSMC), announced plans for a second semiconductor chip fab in Arizona, already raising $40 billion in one of the largest foreign investments in US history.

With numbers like these, Taiwan’s semiconductor industry ends the year in motion, still building relationships and gaining growing support from business and government in the United States and elsewhere.

Mixed Year: Asia’s “Love” for Crypto

As in much of the world, investors in Asia – once dazzled if not enchanted by the crypto industry – are ending the year in mixed mood. Industry collapses have left many, including in government, to wonder if the caveat message – buyers beware – is enough and new regulations loom.

Crypto exchange FTX’s multi-billion dollar implosion set alarm bells ringing across the region. Singapore’s Temasek Holdings, which has written off its entire $275 million investment in now-collapsed cryptocurrency business FTX, has suffered “reputational damage,” Deputy Prime Minister Lawrence Wong said.

FTX founder Sam Bankman-Fried is being led around by officers from the Royal Bahamas Police Force following his arrest.

Mario Duncanson | AFP | Getty Images

Bad Year: Sri Lanka, the (unique) pearl of South Asia

Even amid food insecurity and economic woes across much of Asia, images of angry citizens storming the official residence of Sri Lankan President Gotabaya Rajapaksa and the Presidential Secretariat stand out in what has been a decidedly bad year for this one-time “pearl of the south”. Asia.”

Sri Lanka continues to face a multidimensional crisis. Characterized by a shattered economy, depleted foreign exchange reserves, high inflation – at one point exceeding 70% – and shortages of electricity, fuel and food, exacerbated by the aftermath of the war in Ukraine, a growing “brain drain ‘ and meager tourism numbers this South Asian nation today.

Negotiations for an agreement with the IMF remain complicated by Sri Lanka’s large debts held by China, India and Japan.

By September nearly 200,000 Sri Lankans had left the island nation, and thousands of would-be emigrants were planning to do the same in search of a brighter future elsewhere.

An IMF deal to restructure Sri Lanka’s debt could bring much-needed liquidity and economic stability, but negotiations remain complicated by Sri Lanka’s large debts held by China, India and Japan.

Worst year: China’s besieged, imprisoned citizens

While China prides itself on an extraordinarily low number of (officially reported) Covid-related deaths, the nation has also become a showcase for the negative consequences of efforts to contain the virus. What should have been a good year for Chinese President Xi Jinping ended the year with a wave of Chinese discontent.

By the end of the year, anti-lockdown protests were reported in numerous cities, including at the world’s largest iPhone assembly plant in Zhengzhou, as China’s zero-Covid policy took its toll on the economy and people’s mental health.

China will weather the Covid reopening but it will be a bumpy ride

“We want freedom, no Covid testing,” became a unified chant from some protesters, according to Reuters, as individuals “crossed the line speaking for change in a country where the space for dissent has narrowed dramatically.”

The spark that sparked the rare protests was news of the deaths of 10 people, including several children, in a fire at an apartment building in Urumqi, in China’s Xinjiang province – in an area that had been under lockdown for several months. A story on social media, which gained traction across the country, focused on the role Covid controls may have played in those deaths.

Chinese citizens can rest assured that these protests may well have had an impact. The Chinese government has started easing zero-Covid restrictions. Still, the nation continues to lag behind the world in opening up and progress, and concerns about the nation’s immunization rate among the elderly linger.

Even as hope for a better year has returned, China’s beleaguered, locked-in citizens are accepting the dubious honors of Asia’s worst year, 2022.

(Unique) Megan Thee Stallion’s former bodyguard goes ‘lacking’ forward of scheduled testimony.

As the first week of shocking testimonies in the Tory Lanez assault trial has concluded, The Shade Room has exclusively learned that Justin Edison, Megan Thee Stallion’s former bodyguard who was also scheduled to testify on Friday, cannot be located.

Meg’s attorney Alex Spiro spoke exclusively to The Shade Room and stated:

We recently learned that Justin Edison disappeared just before he was due to appear in court.

We are also told that “LAPD is currently investigating his disappearance and welcomes any information as to his whereabouts.”

According to Rolling Stone, Judge David Herriford was asked to issue a “body bond,” an arrest warrant, against Meg’s former bodyguard “to signal that prosecutors had given up calling him to the witness stand.”

Another source with knowledge of the situation confirmed Justin’s lawyer has not heard from him since Thursday.

What does Justin have to do with the case?

We’re also told that Justin may have information about the night of the shooting, although he wasn’t there. According to witnesses, Kelsey texted Justin “help” and that Tory “shot” Megan on the night of the shooting. It is also reported that Justin went on the record and allegedly said Tory apologized to him for shooting the rapper.

Prosecutor Alexander Bott revealed a series of text messages Kelsey Harris sent to Megan’s bodyguard at 4:27 a.m., about five minutes after the shooting:

“Help”
“Tory shot Meg”
911″

— Nancy Dillon (@Nancy__Dillon) December 12, 2022

After the incident, the former athlete commented on the shooting. He wrote on IG:

If you know me and you know her well enough, not only do you know that I wasn’t physically present at the time [the] events, but you know why. If you don’t know me or her well enough, she’s good. I’m here now, and she’ll never set foot outside without me and a few niggers who don’t aim for feet.

Justin has not uploaded any pictures to his IG account since December 2nd, nor has he currently posted any stories to his page. It is unclear whether he has been in contact with family or friends since Thursday.

Although Justin Edison could not be located, no official missing persons report was filed on his behalf.

Roommates, we hope Justin is found safely. We’ll keep you up to date.

Do not need to journey? Many in Japan say they’ll “by no means journey once more.”

All travel it seems.

Data shows that people are traveling more frequently and for longer periods of time, with many planning major bucket list-style trips this year.

But that’s not the reality for everyone.

Another group of people are quietly emerging from the pandemic with little to no interest in travel.

Where Never Travelers are highest

A survey of 16,000 adults in 15 countries by global intelligence firm Morning Consult found that Asia is home to the highest percentage of people who said they “never travel again”.

About 15% of South Korean and 14% of Chinese respondents said they would never travel again, according to Morning Consult’s The State of Travel & Hospitality report released in August.

North America is not far behind with 14% of American and 11% of Mexican respondents.

Still, no country came close to travel reluctance in Japan, where around 35% of respondents said they did not want to travel again.

The survey asked about “any vacation travel” and made no distinction between domestic or international travel plans, said Lindsey Roeschke, travel and hospitality analyst at Morning Consult.

Respondents were interviewed twice this year: in April and July, she said. During this time, travel confidence increased among other Japanese respondents, including those who said they plan to travel in the next three months (+7 points) as well as in the next 12 months (+4 points).

But in both surveys, “the number of ‘never travellers’ in Japan remained the same,” says Roeschke.

Even as travel intentions increase, Japan’s rates lag far behind other countries, including those in North Asia, according to the report.

About 45% of Japanese respondents said they intend to travel in the next year, compared with 65% in China and 66% in South Korea, the survey found.

In contrast, 77% of German respondents said they plan to travel in the next 12 months.

“I don’t want to go abroad”

You could say that the pandemic has reduced the number of Japanese choosing to travel abroad, but I think the weaker yen has had a bigger impact.

Tetsuya Hanada

Managing Director, Tabimori Inc.

About 386,000 Japanese travelers went abroad in August — a far cry from the estimated 2.1 million who went abroad in August 2019, according to the Japan National Tourism Organization.

Hideki Furuya, a professor at Japan’s Toyo University who studies tourist behavior, said one reason is the “culture’s preference for risk aversion.”

He said peer pressure will also keep travelers close to home when the risk of contracting Covid-19 is high.

Why people who don't want to travel don't talk about it

Tetsuya Hanada, chief executive of food and travel company Tabimori Inc., said he believes finance is an even more important factor.

“You could say that the pandemic has reduced the number of Japanese people choosing to travel abroad, but I think the weaker yen has had a bigger impact,” he told CNBC Travel.

No place is like home

We expect a return to pre-2020 international travel demand sooner rather than later.

Hideki Furuya

Professor at Toyo University

After a rapid rise in international travel in the 1970s and 1980s, the number of outbound trips by Japanese citizens has largely stagnated since the mid-1990s, according to statistics from the Japan National Tourism Organization.

Roughly the same number of Japanese citizens traveled abroad in 2000 and 2017 – about 18 million – despite the timeframe showing incredible growth for international travel worldwide.

“The language barrier and lack of consecutive public holidays are some of the reasons why domestic travel is preferred,” Furuya said, adding that “work environments that make it difficult to take paid vacations” are another factor.

Japan’s passport is often cited as one of the strongest in the world, but less than one in four Japanese citizens had one in 2019.

Behrouz Mehri | AFP | Getty Images

He also cited the attractiveness of Japan’s nature, history and culture as another incentive to stay close to home.

This will put additional pressure on destinations popular with Japanese tourists, namely Taiwan, South Korea and Hawaii.

But Hanada said Japanese citizens are likely to travel again over time.

“The Japanese are easily influenced by the majority, a mood that will change in five years,” he said.

Furuya said he doesn’t expect it to take that long.

“Having seen and heard how active Westerners are, we expect a return to international travel demand before 2020 sooner rather than later,” he said.

Others stay at home too

Outside of Japan, other travelers say they too have lost their desire to travel.

The British artist known as Miles Takes told CNBC Travel that “international travel still seems a while away for him”.

“In the past I have loved to travel and just earlier this year I traveled from London to Singapore and Poland,” he said. But “those two trips sparked anxiety that has since grown much worse.”

A combination of things kept him from travelling, he said, including Covid, travel disruptions and a partner who was medically vulnerable.

Singaporean Daniel Chua says he is in no rush to travel for “various reasons”.

But Covid is not one of them, he said.

“I’m not afraid of the virus,” said Singaporean Daniel Chua, pictured here in Edinburgh, Scotland. He told CNBC Travel he was less inclined to travel, partly because of the environmental impact.

A work trip to Europe in June exposed him to a “hodgepodge” of flight delays and staff shortages, he said. Additionally, he said virtual meetings are a more efficient use of work time.

Chua also cited sustainability as a deterrent to travel, calling it a “core belief in my work and personal life.”

But he admitted he’s surrounded by people who travel.

“I don’t talk to them about why I’m not traveling, not to burst their bladder or to be the party poop in the middle of all this celebration,” he said. “It’s a personal choice for me.”

Chua said he believes there are more people who feel like him, but that they travel out of peer pressure or for FOMO — or the “fear of missing out.”

However, neither affects him, he said.

“I’ve traveled so much,” he said. “There is no particular country in the world that I really need to visit right now.”

It looks like Trump is starting to appreciate he might face felony fees

A recent post on his social media certainly reads like Donald Trump realizing he could face criminal charges.

Trump wrote on Truth Social:

Eric Holder/Obama alumni Special “D.A.” Jack Smith (he’s not Jack Smith) found NOTHING I found wrong or different than other Presidents on “Boxes Hoax” (Raid of Mar-a-Lago) including the fact that Presidents are PROTECTED under the Presidential Records Act, the Clinton Socks case, and more. Now “Smith” is snooping around on the PERFECT PHONE CALL I made at Georgia Sec. of State questions the corrupt results of the presidential election, my absolute right!

Trump’s contribution has a little bit of all the classics. Trump claims he did nothing wrong, the boxes he stole and the secret documents found in his office are a hoax and a wild reinterpretation of the law. The Presidential Records Act does not protect ex-presidents who steal classified information.

The former president should not throw out the Presidential Records Act because “the Presidential Records Act (PRA) changed the legal status of Presidential and Vice Presidential materials. Under the PRA, the official records of the President and his associates are the property of the United States, not the President.”

The Presidential Records Act doesn’t mean what Trump thinks, and mentioning it doesn’t mean what Trump thinks it means.

The ex-president is attacking the special counsel for good reason. It appears Smith is putting together the pieces of the broader Trump plan to overturn the election and the potential crimes that were committed.

Trump is rumored to spend his time worrying about the investigation, and his attack on Smith was the first public sign that a criminal charge is real.

Jason is the managing editor. He is also a White House press pool and congressional correspondent for PoliticusUSA. Jason has a bachelor’s degree in political science. His thesis focused on public policy with a specialization in social reform movements.

Awards and professional memberships

Member of the Society of Professional Journalists and the American Political Science Association

The Biden administration is making free at-home Covid testing accessible once more this winter

The Biden administration is making free rapid Covid tests available again this winter as part of a limited round of orders.

Households can now order a total of four rapid Covid tests free of charge from CovidTests.gov. Orders will start shipping next week, just days before families gather for the Christmas holidays, and deliveries will continue in the following weeks, according to the White House.

The Biden administration halted the free at-home Covid testing program in September because Congress failed to approve additional funds to replenish US supplies.

The White House decided to shift existing money to buy more tests and restart the popular program as Covid cases rose again, a senior administration official told reporters during a call Wednesday night.

“We’re confident we’ll have enough tests in the coming weeks to get through this next round, four per household,” the official said.

Take-home COVID-19 self-test kits provided by the District of Columbia government, which is offering city residents four free take-home tests per day, are seen in this photo taken on January 11, 2022.

Evelyn Hockstein Reuters

The restart of the free-at-home testing program is part of the Biden administration’s Covid preparedness plan this winter. Covid infections are on the rise again as hospital emergency rooms are already grappling with a spate of patients sick with the flu and respiratory syncytial virus.

The Biden administration will provide federal medical teams to strained hospitals as requested by state governments, the official said. Supplies such as personal protective equipment and ventilators are being prepared in advance to be issued to states when needed, the official said.

The administration is also focused on increasing vaccination rates in care homes and long-term care facilities, which house some of the people most vulnerable to serious illness from Covid.

The federal government will issue a handbook urging nursing homes to keep all residents up to date on the vaccines, offer treatment to residents who contract Covid and take steps to improve indoor air quality, according to a White House fact sheet .

According to the White House, Secretary of Health Xavier Becerra will send a letter to governors highlighting how vaccination rates at nursing homes in their states compare to others. The Centers for Medicare and Medicaid Services will also reach out to jurisdictions with the lowest nursing home vaccination rates to remind them of steps they can take to increase coverage.

The federal government is also asking hospitals to offer unvaccinated patients a Covid vaccination before they are discharged.

CNBC Health & Science

Read CNBC’s latest global health coverage:

TikToker Dylan Mulvaney undergoes facial feminization surgical procedure

In a statement to the Washington Examiner, Caitlyn’s rep addressed Dylan’s mix-up, stating that an “individual on Ms. Jenner’s team arbitrarily misgendered Dylan” and that the team was “taking appropriate action to correct the situation internally.” . However, the statement said, “Ms. Jenner has no further comment on the matter and otherwise stands by her statements.”

And while Caitlyn may not be on board with her message, Dylan plans to continue using her platform to share her authentic self with the world. During an interview with E! Breaking news over the summer, the social media star reflected on her journey so far and the support she’s received from fans.

“I think the coolest thing was seeing people feel inspired to be themselves and get those messages of hope, acceptance, and support,” she told E! News in June. “As overwhelming as this whole experience was and as exhausting as it was, I feel very energized by my followers and by all of the love.”

American Airways is dropping Mesa citing monetary issues

American Eagle Bombardier CRJ-900ER aircraft seen at Phoenix Sky Harbor International Airport.

Alex Tai | SOPA | Getty Images

American Airlines said on Saturday that it will fall water mesa for some of its regional flights, citing concerns about its partner’s financial and operational woes, problems related to rising costs and the industry’s pilot shortage.

“As a result, we have concerns about Mesa’s ability to be a reliable partner for American going forward,” Derek Kerr, American’s chief financial officer and president of the regional American Eagle brand, said in an employee release seen by CNBC Saturday. “American and Mesa agree that the best way to address these concerns is to terminate our agreement.”

related investment news

CNBC Pro

The last Mesa flight for American will be April 3, though American will cut Mesa flights in March, Kerr said in his note.

Now, Arizona-based Mesa plans to “convert all of our CRJ900s that fly to United Airlines‘ an airline it already flies for, Mesa CEO Jonathan Ornstein said in a note to employees seen on CNBC on Saturday.

United declined to comment.

Major airlines like American, United and Delta Airlines They regularly hire regional airlines to fly many shorter routes and they account for about half of departures, although this varies by airline.

At the heart of the problem stems from a pilot shortage, which is most acute on regional airlines and has worsened since travel demand fell after a pandemic travel slump. Mesa and other regional airlines have raised wages sharply to attract and retain fliers. American has increased wages at its regional subsidiaries.

American declined to fund higher pilot rates for other regional partners, Mesa’s CEO told employees, adding that they would be penalized for failing to meet pre-Covid contract obligations.

“With that in mind, we are pleased to announce that we have negotiated a cessation of our operations with American and are entering into a new agreement with United that will transition all CRJ900s currently flying American Eagle to United Express,” said Mesa’a Ornstein .

American did not comment on Mesa’s note to employees.

Mesa had a net loss of about $67 million for the nine months ended June 30, according to a securities filing. The airline postponed its quarterly report last week.

As of September 30, 2021, about 45% of Mesa’s revenue came from American and 52% from United, according to the company’s most recent annual report, released a year ago. Mesa also flies for DHL.

American said its agreement with Mesa is tied primarily to its hubs at Dallas/Fort Worth International Airport and Phoenix Sky Harbor International Airport.

American plans to concentrate its flying with its wholly owned regional subsidiaries, such as Envoy and PSA, and an independent regional airline SkyWest. Air Wisconsin will also fly for the American Eagle brand, beginning its arrangement earlier than originally planned, Kerr said.

“Flights previously operated by Mesa will be replenished by these high quality regional carriers as well as our mainline operations to ensure we continue to build and deliver the very best global network for our customers,” Kerr wrote.