Day: April 11, 2024

AP Photo/Jason DeCrow

• US stocks rose on Thursday as traders moved on from the hot CPI report and turned to earnings season.
• JPMorgan, Wells Fargo, and Citigroup will be turning in their first-quarter earnings report cards on Friday.
• Tech led the rebound in Thursday’s trading session, with the Nasdaq rising by 1.7%. 

US stocks on Thursday recovered some losses from Wednesday’s sharp sell-off as traders tried to shake off the hot March inflation report and geared up for earnings season. 

On Friday, JPMorgan, Wells Fargo, and Citigroup will be turning in their first-quarter report cards, kicking off a new season of corporate earnings. 

Tech stocks rocketed higher in Thursday’s session. Nvidia soared over 4%, Google’s parent company Alphabet flirted with a $2 trillion market cap, and Amazon hit its highest point since 2021. Meanwhile, Apple‘s revamping its entire Mac lineup to supercharge sales, with the stock rising more than 4%. 

On the rate cut front, despite the newly released producer price index coming in softer than Wall Street expected, the market is still pushing out forecasts for when the Federal Reserve could start to loosen monetary policy. 

New York Fed President John Williams said during an event Thursday that “there’s no clear need to adjust monetary policy in the very near term,” while Richmond Fed President Thomas Barkin doubts inflation’s easing trend will persist.

Economists from Deutsche Bank and Bank of America have pushed back their rate-cut timelines to December after the hot inflation data, a notable shift from previous calls for the first cut to arrive in June. 

Andrew Slimmon, senior portfolio manager at Morgan Stanley Investment Management, said on CNBC on Thursday that investors are highly focused on the rate cuts while overlooking the potential for robust company earnings to drive the market even higher.

“We’re so fixated on the macro issues that people have forgotten that earnings are around the corner. And then there are blackout windows, where companies can buy back stocks, and that’s a big driver of the market,” he said.

Here’s where US indexes stood at the 4 p.m. closing bell on Thursday: 

• S&P 500: 5,199.06, up 0.74% 

• Dow Jones Industrial Average: 38,459.08, down 0.01% (-2.43 points)

• Nasdaq Composite: 16,442.20, up 1.68% 

Here’s what else is going on:

• Investors should immediately buy the stock market’s post-CPI dip with a June rate cut still on the table, Fundstrat says.
• The stock market’s best-case interest rate scenario is in tatters after March CPI.
• There are two reasons Apple’s stock still has 25% upside despite struggling to start 2024, according to JPMorgan.
• The inflation fight has stalled and the first rate cut won’t happen until December, Bank of America says.

In commodities, bonds, and crypto: 

• West Texas Intermediate crude oil fell by 0.72% to $85.59 a barrel. Brent crude, the international benchmark, fell 0.25% to $90.25 a barrel. 
• Gold rose 1.54% to $2,369.04 per ounce. 
• The 10-year Treasury yield inched slightly higher to 4.578%.
• Bitcoin dipped 0.18% to $70,575.9.

Edward Thorpe at the blackjack table in 1964.

Don Cravens/Getty Images

• Edward Thorp, a 91-year-old former hedge fund manager, has some tips for a long life.
• “Minimize the chance of really bad outcomes of one sort or another,” Thorp told Bloomberg.
• He also advocates habits that maximize the good outcome: regular exercise and a healthy diet.

Take it from a 91-year-old mathematician: Living a long, healthy life is like a game of probability.

You want to “minimize the chance of really bad outcomes of one sort or another,” Edward Thorp, a mathematics professor, hedge fund manager, and blackjack player, told Bloomberg.

That means trying to lower the likelihood of things that could kill you, like heart disease or other “main killers,” he said. So his advice is to schedule regular checkups and vaccinations and manage overall risks. 

You also want to develop habits that can add years to your lifespan. Thorp called these “magic bullets,” which include regular exercise and a healthy diet.

Thorp’s exercise routine includes aerobic exercises like walking or a short jog and core strength-building activities. At 91, he can do two chinups and 15 pushups. He told Bloomberg he stays away from the “typical American diet” because it can lead to weight gain and cause several diseases. Thorp, who’s 155 pounds, said he’s only gained 2 pounds in 70 years.

Additionally, Thorp said he regularly takes four of five supplements. He also takes the medication Finasteride for his enlarged prostate, which has the added benefit of preventing his hair from thinning. 

Thorp said that people who beat the odds in blackjack, the financial markets, or life do one thing better than others: They anticipate risks and figure out how to overcome them.

“If I have an edge, it’s that I try to think things through for myself, look at the empirical evidence, manage risks, and work hard at making the necessary changes,” he said. 

Those who want to implement a few of Thorp’s lifestyle habits into their life but need a little motivation should try habit stacking.

“It’s easier to create a habit when you add it onto something you’re already doing,” Dr. Kien Vuu, a physician who specializes in antiaging and regenerative medicine, previously told Business Insider.

In this photo taken while zooming with a slow shutter speed Federal Reserve Board Chair Jerome Powell speaks during a news conference about the Federal Reserve’s monetary policy at the Federal Reserve, Wednesday, Dec. 13, 2023, in Washington.

Alex Brandon/AP Photo

• The Fed might have to self-induce a recession if it wants to reach its target inflation rate, a BMO strategist said.
• Ian Lyngen told Bloomberg TV that the Fed might find its current monetary policy to not be restrictive enough.
• Markets have given up hope for a rate cut in June following the recent CPI print.

The latest inflation report not only sent bond yields soaring and stocks plunging, it may also have put the US back on track for a recession, one economist told Bloomberg TV on Thursday. The catch: such a downturn would be one self-induced by the Federal Reserve.

“If we continue to get inflation prints at these levels, the [Federal Reserve] is going to find itself backed into a corner where they need to cause a recession if they’re going to hold that 2% inflation target,” Ian Lyngen, BMO Capital Markets head of US rates strategy, said.

His comments follow after March’s consumer price index came in hotter-than-expected on Wednesday, increasing 3.5% on an annual basis, against 3.4% year-over-year forecasts. The rate was higher than both January and February prints.

This has essentially crushed market bets on a quick interest rate pivot from the Fed, with futures markets no longer counting on June as the starting point for easing. Instead, a majority of investors are eyeing September as more likely, according to the CME FedWatch Tool — though odds are below 50%.

The recession risk from the Fed may come as the central bank realizes that its current fed funds rate of 5.25% to 5.50% isn’t restrictive enough to clamp down on inflation, Lyngen said. 

This echoes recent warnings that others have put out, that the Fed could be pressured to pursue a rate hike.

Frances Donald, who also took part in the Bloomberg interview, agreed, noting that recession risk is increasing as the Fed loses data support to cut in the near term.

“Now that we’re back to an environment where we’re losing those embedded rate cuts, we actually have to increase the chance of something bad happening here,” the chief economist at Manulife Investment Management warned, adding: “They may have to stay higher until something breaks. That’s the problem.”

Some have suggested that it’s time for the Fed to instead adjust its inflation target rate to 3%, and in doing so ease these risks. 

Leading economist Mohamed El-Erian is among this cohort, recently warning that interest rate policy will have to remain unchanged for years if the Fed wants to reach 2% inflation.

When you buy through our links, Business Insider may earn an affiliate commission. Learn more

Keep dogs safe in and around water with a high-quality life jacket like this one from Ruffwear.

REI

Some dogs seem born for the water, while others would rather keep their paws firmly planted on the ground. But there’s one thing both water babies and poolside loungers need to stay safe in and around the water: a quality life vest. The best dog life jackets can keep accidents from turning into tragedies.

We carefully considered the advice of dog water safety experts to select the best life jackets for dogs. Our top pick is the Outward Hound Granby Splash Life Jacket, which outperformed other jackets in third-party testing by the BoatUS Foundation. Of course, no single life jacket is ideal for dogs of every size, shape, and ability, so we also selected specific designs for small breeds, big dogs, and colder temperatures.

Ultimately, the best jacket for your dog fits properly, is comfortable to wear in water and on land, and has plenty of functionality like durable handles and well-balanced flotation, says Fiona McGlynn, contributing editor at BoatUS Magazine, the official publication of the Boat Owners Association of the United States (BoatUS).

Read more about how Insider Reviews researches and tests pet products here.

Our top picks for the best dog life jackets

Best overall: Outward Hound Granby Splash Life Jacket – See at Chewy

Best for small dogs: Ruffwear Float Coat Dog Life Jacket – See at Amazon

Best for large dogs: Kurgo Surf N’ Turf Dog Life Jacket – See at Chewy

Best neoprene jacket: Outward Hound Dawson Swim Life Jacket – See at Chewy

Best overall

Whether your dog is big or small, a natural swimmer or a natural sinker, the Granby Splash Life Jacket offers protection and comfort in and out of the water. In the 2012 dog life jacket evaluation conducted by the BoatUS Foundation, the testing team found the Granby excelled in every category for dogs of all sizes.

The BoatUS Foundation found the jacket’s evenly distributed flotation foam kept a dog horizontal in the water. Dogs wearing the vest appeared comfortable out of the water, and their movement was unrestricted.

The Granby Splash Life Jacket has buoyant foam panels concealed within a rip-resistant nylon shell. A flexible neoprene band with three Velcro straps and two adjustable, quick-release buckle straps wrap around the belly. A third strap buckles at the chest.

A foam chin panel on the chest strap helps keep a dog’s head above the water, a feature Dr. Gabrielle Fadl, medical director and veterinarian at Bond Vet, likes to see in a dog life vest.

While the extra-small and small sizes have one solid, padded handle for pulling a pup out of the water, the larger jackets have two handles for better leverage. The vest comes with multiple reflective accents that improve the likelihood of spotting a dog in the water. 

Best for small dogs

The best dog life jackets for smaller breeds should have the right balance of buoyancy and comfort without so much foam or fabric that it overwhelms little swimmers. The Ruffwear Float Coat Dog Life Jacket has a tailored fit packed with foam flotation that doesn’t hinder the movement of short legs. While the jacket will work for any size dog, its snug fit and small sizes will keep pups afloat in the water without compromising mobility or comfort.

Mark and Kristi Jagger, dog surfing instructors with the So Cal Surf Dogs Club, say that this jacket fits the best, and the handle on top of the coat makes for easy water retrieval. A 2014 study identified this vest as the best of those tested for keeping an incapacitated dog afloat in open water.

The Float Coat wraps around the belly and secures with two adjustable buckle straps. The chest strap has an adjustable telescoping design that slips over the head to fit different neck sizes. Depending on fit, the belly straps may partially rub against the skin or cause discomfort. Its nylon sides packed with closed-cell foam helps keep a dog upright while swimming. There’s a sturdy handle sewn into the back of the vest and a D-ring where you can attach a leash and a loop for hanging a light. It does not have a chin float.

This jacket comes in three bright colors, but McGlynn recommends skipping the blue one, which would be harder to see in the water, even with the vest’s reflective trim. Like all Ruffwear products, the Float Coat comes with a hefty price tag, but with its durable construction, the high-quality jacket will last.

Best for large dogs

The Surf N’ Turf Dog Life Jacket is built tough for large, active dogs. The vest earned the highest score for extra-large pups in the BoatUS Foundation’s evaluation. Testers particularly liked its two lifting handles for hauling a dog out of the water and its scalloped design, which fits the shoulders and rear haunches well.

This vest is the most versatile option among the best dog life jackets we evaluated. It has two detachable layers, one stuffed with foam for flotation, the other a simple nylon ripstop shell that your dog can wear as an extra layer for on-land adventures.

The heavy-duty vest has two adjustable buckle straps on its belly panel and a third adjustable strap at the chest. Two metal D-rings are on the top of the vest, and one doubles as a bottle opener. However, the jacket lacks a chin float.

The Surf N’ Turf comes in five sizes and two colors with reflective trim. While the jacket is moderately pricey, it comes with Kurgo’s lifetime guarantee against manufacturing defects.

Best neoprene jacket

Neoprene dog life jackets are less bulky and often more comfortable than other vests. They also have insulation to keep a dog’s body temperature from dropping drastically in cold water. Even with its sleek design, the side panels of the Dawson Swim Life Jacket are packed with plenty of foam to keep novice swimmers afloat.

The jacket has a neoprene belly panel fitted with two adjustable buckles. A third adjustable strap at the chest has a float to help keep a dog’s head above water. Unlike some of the other designs in this guide, the straps make contact with the dog’s skin at the edges; this could cause some discomfort and rubbing after a long day in the water, especially if your pup has a barrel chest or a chubby belly.

This life vest comes in five sizes. The extra-small and small sizes have one sturdy handle at the back for lifting a dog out of the water in an emergency, while the larger sizes have two straps for better leverage. Reflective accents provide better visibility.

In its dog life jacket evaluation, the BoatUS Foundation found that thinner neoprene vests tend to bunch up less on a dog who is sitting or lying down out of the water, making them more comfortable overall. 

What to look for in a dog life jacket

With input from our experts, we came up with the following list of features to look for in a life jacket for dogs:

• A sturdy handle for small dogs, two for large dogs
• A support panel or thick straps under the belly to help lift a dog out of the water
• Foam placement that won’t cause discomfort when a dog is sitting or lying down on land
• Sturdy, adjustable buckles
• Bright colors that can be easily seen in the water
• Reflective accents for added visibility in the water
• A chin float to help keep the head above water
• Available in brick-and-mortar stores to try on

How we selected the best dog life jackets

There are no standards or certifications to guide pet caretakers in selecting a quality dog life jacket. “Unlike human flotation devices, canine flotation devices are not regulated,” says Lindsey Wolko, founder and CEO of the Center for Pet Safety. “There has been very little scientific examination of the flotation needs of pets.”

For this guide to the best dog life jackets, we relied on the recommendations of experts and two studies conducted on dog life vests. Then we reviewed life vests on the market and selected the ones that met most, if not all, of our experts’ criteria.

Our experts quoted in this article include a veterinarian, a pet safety expert, and an editor for BoatUS Magazine, the official publication of the BoatUS. We also spoke with Gigi Bagaporo, Mark Jagger, and Kristi Jagger, surfing instructors with the So Cal Surf Dogs Club. The organization helps pups prep for the Helen Woodward Animal Center’s Annual Surf Dog Surf-a-Thon.

Life jackets for dogs FAQs

When should a dog wear a life jacket?

Anytime a dog is in or around water, a life vest is worth considering. Accidents can happen even if you have a strong swimmer. A dog should wear a life vest while floating, kayaking, stand-up paddleboarding, or surfing. “A lot of dog owners use them for fun on the beach, too,” says McGlynn. “Just swimming and retrieving, there could be currents that pull them out.” Wolko says it’s up to pet guardians to determine whether their dog should wear a life jacket based on their experience in and around the water.

Should my dog wear a life jacket around the pool?

If you have a dog that has spent little time around a pool, Wolko says putting them in a life vest is a good idea. Only after a dog has been properly introduced to a pool, including how to use the stairs to exit the water, is it OK for strong-swimming dogs to go without a life vest. Even if your dog has pool experience, they should wear a life vest when visiting unfamiliar pools that may be designed differently.

What color life jacket is easiest to spot in the water?

All the experts we consulted told us the best dog life jackets are easiest to spot in the water when they are brightly colored. “Colors like blue and gray are not going to stand out as well in the water,” says McGlynn. Reflective accents on the exterior also improve visibility.

Can a dog drown while wearing a life jacket?

Yes. A dog can drown while wearing a life vest. “Dogs who are not well supported from a flotation perspective can panic or tire from treading water, increasing the risk of drowning,” says Wolko. McGlynn says that dogs wearing life jackets may also face extreme danger if they become trapped under the water or if waves or rapids splash in their nose and mouth. A life jacket that is properly fitted can help minimize the risk, as can educating yourself about canine water safety.

How do you measure your dog for a life jacket?

A life jacket that fits properly is essential to keeping a dog safe in and around the water. The best way to ensure proper fit is to take your pup into a brick-and-mortar store to try your options rather than ordering online, according to several of our experts. Because dogs come in so many different shapes and sizes, what fits one comfortably may not be appropriate for another.

When fitting a dog for a life jacket, McGlynn told us to look for a vest that fits snugly but has no buckles or straps tight enough to ride up or rub against the skin. She also suggested examining how the life jacket fits when a dog is lying down and standing up. If your dog wears a life vest for several hours, it should be comfortable in every position.

Chest girth, neck girth, and weight are also crucial considerations when fitting a dog with one of the best dog life jackets. Take the following measurements to narrow down the right size for your pup.

Chest girth: A dog life vest is fitted according to the width and shape of a dog’s chest. To get their chest girth, measure the circumference around the widest part of the chest right behind the front legs. You’ll get the most accurate reading when your dog is standing in a relaxed position. If their chest girth falls between sizes, choose the larger option.

Neck girth: A dog life vest should not be so tight around the front of the chest and neck that it may press against the windpipe. To determine girth, measure the circumference of your dog’s neck around its thickest part, just below the collar. When in doubt, size up! 

Weight: While you can’t fit a dog for a life jacket by knowing their weight alone, it’s important to ensure the vest size can support their weight in the water. If your dog is heavier than recommended for the life jacket that fits them best, either size up or look for a different brand labeled for their weight.

Can all dogs swim?

“While doggy paddling is instinctual to many dogs, not all dogs know how to swim,” says Fadl. “It’s crucial to allow your dog time to learn, and their time in the water should always be supervised for their safety.”

What dogs are more vulnerable to danger in the water?

Some dogs are natural water babies, while others may be more likely to experience challenges even if they’ve entered the water willingly. McGlynn told us that older pups or those with limited mobility may be more likely to tire while swimming, leaving them more susceptible to dangers like rip currents. Dogs with lower body fat, like greyhounds and boxers, may also struggle in the water if their body temperature drops too low.