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☆ China is untangling its economy from the West. It could be preparing for long-term tensions — and an invasion of Taiwan
▼ + stars: | 2024-05-10 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +8 min

What's more, Xi Jinping has told the Chinese military to prepare for war and said that reunification with Taiwan is inevitable. But not everyone thinks a Chinese military move is necessarily imminent. If China was actively preparing for a near-term invasion of Taiwan, Kennedy said there are a few things he might expect to see first. AdvertisementIf China does invade, the global economic impact would be huge, and despite its efforts to secure its economy, China would likely be far from unscathed. "Any action against Taiwan would be disastrous for China's economy," Chilukuri said.

Persons: —, Vivek Chilukuri, Scott Kennedy, It's, Chilukuri, Xi Jinping, China's, Jinping, Kennedy, he'd Organizations: Service, Business, West, Center, New, New American Security, Center for Strategic, International Studies Locations: China, Southeast Asia, Europe, US, Taiwan, New American, United States, Russia, Ukraine, Hong Kong

☆ An Nvidia partner and more: Morgan Stanley names tech stocks set for a boost from Arm-based PC chips
▼ + stars: | 2024-05-10 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

The bank therefore expects Arm-based AI PCs to "start a transformation that will affect the global semis industry." Morgan Stanley added it believes that Apple may expand its Arm-based CPU to AI servers as well. The bank estimates that AI PCs will reach a penetration rate of 95% by 2027 — up from 8% in 2024. Stocks What stocks will benefit from Arm's foray into AI PCs? As for TSMC, Morgan Stanley says its foundry market share with the "x86" CPU market will grow.

Persons: Morgan Stanley, That's, TSMC, MediaTek, bode, — CNBC's Michael Bloom Organizations: Microsoft, Intel, AMD, Qualcomm, Apple, Nvidia Locations: British, Taiwan

☆ Opinion | Is There a Post-Religious Right?
▼ + stars: | 2024-05-10 | by ( Ross Douthat | ) www.nytimes.com time to read: +3 min

My one-liner “captured a widely shared assumption” that Trump’s rise signaled “the birth of an irreligious right animated by white racial grievance,” he wrote. The old religious right may have suffered a fatal blow in 2016. But what succeeded it was not a post-religious racialist party, as some feared and others hoped. was preparing to establish white supremacy now are more likely to denounce its ambitions as “Christian nationalist.” Whatever else one makes of this charge, it implies an acknowledgment that a post-religious right has failed to materialize. But when Schmitz says a post-religious right has “failed to materialize” I have to strongly disagree.

Persons: Donald Trump, Matthew Schmitz, “, ”, that’s, Schmitz, Mitt Romney, Republican pollster Patrick Ruffini, Vance, George W, Bush, Trump, Norman Vincent Peale Organizations: Republican, Trump, Christian, Republican Party Locations: American, Ohio

☆ Opinion | Why Conservative and Liberal Catholics Can’t Escape One Another
▼ + stars: | 2024-05-08 | by ( Ross Douthat | ) www.nytimes.com time to read: +2 min

A college of supposedly conservative cardinals elected a surprisingly liberal pope. It seemed as though liberal Catholicism had been merely hibernating, awaiting a new pope, a new spring. But lately, in both Rome and the United States, I’ve had conversations with well-informed Catholics in which the old conservative confidence has made a comeback. The fear that the next pope might be another liberalizer, younger and more ambitious than Francis, has largely receded. This new confidence reflects a specific reading of the waning years (or what are probably the waning years) of the Francis pontificate.

Persons: Pope Francis, Pope John Paul II, Pope Benedict XVI, I’ve, Francis Locations: Rome, United States

☆ Biden faces widening partisan split over Israel
▼ + stars: | 2024-05-06 | by ( Ronald Brownstein | ) edition.cnn.com time to read: +17 min

CNN —President Joe Biden is facing more critical moments this week that will test his fraught relationship with his base over Israel’s war in Gaza and potentially widen the partisan split about the Jewish state that has been building for years. Against this backdrop, partisan polarization about Israel among American voters was already widening years before the brutal Hamas attack last October and the devastating Israeli response it triggered. An array of polls this spring show how the war in Gaza has hardened this partisan split. Nearly half of Democrats, but only a little over one-fifth of Republicans in the CBS poll, said the US should pressure Israel to stop the fighting. “Biden has a Democratic caucus that is putting a lot of faith in this process,” she said.

Persons: Joe Biden, Long, Benjamin Netanyahu, Netanyahu, “, ”, Aaron David Miller, Biden, Harry Truman, Lyndon B, Johnson, Jimmy Carter, Bill Clinton, Dwight Eisenhower, Richard Nixon, Ronald Reagan, George H.W, Bush, Reagan, George W, Donald Trump, Clinton, Barack Obama, Republicans —, Obama, Israel, Biden —, Gallup, Trump, That’s, Chuck Schumer, Mike Johnson, Biden’s, Jamaal Bowman, Cori Bush, Waleed Shahid, Shahid, David, it’s Goliath, David ”, Miller, “ Biden, ’ ”, Ben Rhodes, ” Biden, “ We’re, Saudi Arabia — “, Mark Mellman, Schumer, Sen, Bernie Sanders, Israel’s, Chris Murphy of, Chris Van Hollen, Chris Coons, Tim Kaine, Virginia, Van Hollen, Amanda Klasing, — Organizations: CNN, Israel, Republican, Democratic, Gallup Organization, Carnegie Endowment, International Peace, Holocaust Memorial, GOP, Whites, Republican Party, Republicans, Gallup, Trump, Chicago Council, Global Affairs, Quinnipiac University, CBS, Liberal, American Israel Public Affairs Committee, AIPAC, National Security Council, Amnesty International, Amnesty Locations: Gaza, Israel, United States, Iran, Quinnipiac, Washington, New York, Missouri, Yom Kippur, Saudi Arabia, Sens, Chris Murphy of Connecticut, Maryland, Delaware, Rafah

Berkshire Hathaway Chairman and CEO Warren Buffett on Saturday addressed losses tied to bets on Paramount Global , as well as his reasoning behind slashing the company's Apple stake by 13% . Buffett opined that trimming the company's stake in Apple was in part due to tax reasons after the stock roared in 2023. Coca-Cola, Apple Buffett said Apple and Coca-Cola will remain premier holdings in Berkshire's portfolio. American Express The "Oracle of Omaha" highlighted credit card firm American Express as another favorite, noting the company's growing position in the consumer credit sector. Warren Buffett and Greg Abel during the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 4, 2024.

Persons: Warren Buffett, Buffett, we've, Apple Buffett, BYD Buffett, Charlie Munger, Charlie, BYD, Munger, Cash, Treasurys Buffett, Greg Abel Organizations: Berkshire Hathaway, Paramount Global, Apple, Paramount, Express, American Express, Oracle, American, Costco, Berkshire, CNBC Locations: Omaha, Costco . Berkshire, Omaha , Nebraska

The development throws up a major roadblock for Skydance, a movie studio that has been negotiating a complicated deal to merge with Paramount for months. Many Paramount investors have come out against that deal, saying it would enrich Shari Redstone, the company’s board chair, at the expense of other shareholders. The 30-day period for exclusive talks with a special committee of Paramount’s board expires at the end of Friday. The company could wait for Paramount to re-engage in negotiations, could make a higher bid or could walk away. The company is wary of being used by Paramount to drive up the price for another bidder.

Persons: Shari, David Ellison Organizations: Paramount, Hollywood, MTV, Nickelodeon, RedBird Capital Partners, Sony Pictures Entertainment, Apollo Global Management

☆ Apple is about to jump into the AI race. Here's what analysts expect it to do
▼ + stars: | 2024-05-03 | by ( Hakyung Kim | ) www.cnbc.com time to read: +3 min

AAPL 1D mountain Apple shares on Friday More substantive updates on Apple's latest AI offerings in both hardware and services are expected to come during its Worldwide Developers Conference in June. According to JPMorgan's Samik Chatterjee, the focus during the event will primarily be on the AI features Apple will include in its iOS 18 software. Mohan holds a buy rating on shares and slightly increased his price target to $230 from $225. "We think Apple can deliver AI upside without the AI capex we see elsewhere," Evercore ISI analyst Amit Daryanani wrote in a Thursday note following the earnings. "Apple is accelerating investments in Generative AI and [is] set to introduce new features at its most important developer conference ever."

Persons: Apple didn't, Wall, JPMorgan's Samik Chatterjee, Wamsi Mohan, Mohan, Amit Daryanani, Morgan Stanley's Erik Woodring, Woodring, Wells Fargo's Aaron Rakers, Rakers, America's Mohan, Michael Bloom Organizations: Apple, Worldwide Developers Conference, of America, America's Locations: WWDC

☆ How to generate some return in beaten-down Starbucks using options following its earnings rout
▼ + stars: | 2024-05-02 | by ( Michael Khouw | ) www.cnbc.com time to read: +4 min

Starbucks (SBUX) on Wednesday traded nearly seven times the 20-day average equity volume and 10 times the average daily options volume as the shares fell nearly 16%. It was the fourth-worst trading day for Starbucks since the company's IPO in 1992. And with respect to China specifically, Starbucks said the recovery there has been "choppy" with intense price wars. Starbucks reported $8.56 billion in second-quarter revenue, which represents a year-on-year decline of 1.8%. Don't try to catch a falling knife This presents a significant challenge for an investor in Starbucks stock.

Persons: Clinton, James Carville, SBUX Organizations: Wednesday, Starbucks Locations: China

☆ TikTok agrees deal with Universal Music Group, bringing back the world’s biggest artists
▼ + stars: | 2024-05-02 | by ( Hanna Ziady | ) edition.cnn.com time to read: +2 min

London CNN —Ariana Grande, Adele and Rihanna will soon be back on TikTok, joining Taylor Swift after a deal with Universal Music Group ended a feud that saw one of the world’s biggest record labels pull its music from the video platform. The licensing agreement, announced Wednesday, means that within one to two weeks TikTok’s 1 billion-plus users will be able to use music by UMG artists in their videos. All videos featuring Universal artists’ music that had previously been muted because of copyright violations will be unmuted. “We are pleased to have found a path forward with Universal Music Group,” TikTok CEO Shou Chew said in a joint statement. Universal pulled its music off TikTok in February after the two companies failed to reach an agreement on royalty fees for Universal’s artists, who also include Lady Gaga, Coldplay and Justin Bieber.

Persons: London CNN — Ariana Grande, Adele, Rihanna, Taylor Swift, Michael Nash, Shou Chew, Lady Gaga, Coldplay, Justin Bieber, TikTok, ” Organizations: London CNN, Universal Music Group, ”, UBS, Universal, TikTok, Poets Department Locations: TikTok

☆ I took a higher-paying job instead of one where I could work from home. I'm not sure it was the right move.
▼ + stars: | 2024-04-30 | by ( Tim Paradis | ) www.businessinsider.com time to read: +7 min

He recently took a government job that paid more than another role where he would have been able to work remotely four days a week. While he likes the job, he has a long commute, so some days he's not sure he made the right decision. And I really like the work I'm doing now in this new job. What if we matched the salary and gave you one day working from home?" You can't be like, "Oh, I'm happy to work from home," and then do absolutely nothing because it's so obvious.

Persons: Erik Bernard, Bernard, —, he's, Erik Bernard Plus, I've, we've, It's, Erik Bernard I, I'm, you'll, aren't Organizations: Service Locations: Brisbane, Australia, America

☆ Inside NBC's ingenious scheme to snatch NBA rights from Warner Bros. Discovery's TNT
▼ + stars: | 2024-04-30 | by ( James Faris | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Discovery's TNT is dangerously close to being left out of the NBA's next TV deal after rival NBC made a massive offer, according to a recent report from The Wall Street Journal. A source familiar with the negotiations told Business Insider that a deal hasn't been finalized and offers are always changing. Still, it's not clear that paying an average of $2.5 billion a year for NBA rights will be profitable. AdvertisementJoe Bonner, a media analyst at Argus Research, has been under the assumption that WBD can and will retain NBA rights even though its cable-TV revenue is steadily shrinking.

Persons: —, hasn't, NBA hasn't, Craig Moffett, Peacock, Moffett, it's, Joe Bonner, Bonner Organizations: Service, Warner Bros, TNT, NBC, Wall Street Journal, Business, NBA, ESPN, Amazon, Puck, Comcast, Argus Research

☆ Stone Age Paleo diet was not rich in meat, scientists say
▼ + stars: | 2024-04-30 | by ( Katie Hunt | ) edition.cnn.com time to read: +7 min

CNN —What did people in the Stone Age eat before the advent of farming around 10,000 years ago? Scientists analyzed chemical signatures preserved in bones and teeth belonging to at least seven different Iberomaurusians and found that plants, not meat, were their primary source of dietary protein. The evidence suggested that the Iberomaurusians consumed “fermentable starchy plants” such as wild cereals or acorns, according to the study. The work undermines the idea that a Stone Age diet was meat heavy — a rigid assumption perpetuated by present-day dietary trends like the Paleo diet. The transition to agriculture was a complex process that occurred at different times and proceeded at different rates, in different ways with different foods, in different places, Pobiner said.

Persons: Heiko Temming, ”, Zineb Moubtahij, Max Planck, Klervia Jaouen, ” Jaouen, Iberomaurusians, ” Moubtahij, —, Briana Pobiner, wasn’t, Jaouen, Pobiner, “ Organizations: CNN, Géosciences Environnement, Max Planck Institute, Stone, Smithsonian National Museum of Locations: what’s, Morocco, Cave, Géosciences Environnement Toulouse, France, Leipzig, Germany, Taforalt, Peru, Levant

☆ The ‘outside agitator’ narrative has a long history
▼ + stars: | 2024-04-27 | by ( Harmeet Kaur | ) edition.cnn.com time to read: +13 min

In these instances, and others, authorities have not offered many specifics about who the “outside agitators” are, how significant their numbers are or how they differentiated outsiders from university-affiliated protesters. “It seems to me that the ‘outside agitator’ claim is one to shift the focus away from the grievances of the students and their protest.”The emphasis on “outside agitators,” Morris says, detracts from the central issue that is driving students to protest: Israel’s war in Gaza. ‘Outside agitator’ trope has a long historyYou don’t have to look far back in history to find examples of the “outside agitator” narrative. “We want to say as clearly as possible - we welcome ‘outside agitators’ to our struggle against the ruthless genocide of Palestinians.”Still, the use of the term is more complicated than it seems. As pro-Israel politicians have amplified concerns around antisemitism, some supporters of students’ right to free expression have suggested “outside agitators” are undermining otherwise peaceful protests.

Persons: ”, Eric Adams, Kaz Daughtry, Gregory Fenves, Aldon Morris, Morris, aren’t, ” Morris, ’, detracts, Donald Trump, Trump, George Floyd, Jose Lusi Magana, —, Kathleen Fitzgerald, White, ” Fitzgerald, Bruce Solomon, Solomon, Martin Luther King Jr, “, Emory, Ayanna Pressley, Hank Johnson, Netanyahu, ” Alex Slitz, ” What’s Organizations: CNN, New York Police Department, Columbia University, New York University, New York City, NYPD, Fox, Emory University, University, Emory, Northwestern University, Associated, AP, White House, Washington D.C, Getty, Parkland, Civil Rights Movement, University of North, Southern Christian Leadership Conference, ”, Atlanta, Spelman College, Yale University, Chapel Hill, University of Texas Locations: Gaza, New York, York, ”, Washington, AFP, Oklahoma, Ferguson , Missouri, University of North Carolina, Mississippi, Brooklyn, Jackson, Miss, Birmingham, United States, Israel, Atlanta, Georgia, Columbia, Austin

United States Supreme Court Associate Justice Ketanji Brown Jackson. Alex Wong/Getty ImagesJustice Ketanji Brown Jackson warned that absolute immunity could turn the Oval Office into "the seat of criminal activity in this country." She said there would no incentive for presidents to follow the law while in the White House if they could never face criminal prosecution. "There are lots of people who have to make life and death decisions" and still face the risk of criminal prosecution, she said. I think that we would have a really significant opposite problem if the president wasn’t chilled," she said.

Persons: Ketanji Brown Jackson, Alex Wong, Donald Trump's, D, John Sauer, Jackson Organizations: Getty

☆ America Is Writing Checks That Mere Optimism Won’t Cover - The New York Times
▼ + stars: | 2024-04-25 | by ( David Brooks | ) www.nytimes.com time to read: +2 min

Interest rates have risen. According to The Wall Street Journal, America is expected to spend $870 billion, or 3.1 percent of gross domestic product, this year on interest payments on the federal debt. According to the Committee for a Responsible Federal Budget, the government will spend more on interest payments than on the entire defense budget. When money is tight, as it is now, government borrowing competes with private borrowing, driving interest rates up for everybody. ratio results in an increase in interest rates of two-tenths to three-tenths of a percentage point.

Organizations: Wall Street Journal, Federal Budget, Social Security Locations: America

☆ How a gag order showdown explains everything about Trump
▼ + stars: | 2024-04-23 | by ( Stephen Collinson | ) edition.cnn.com time to read: +9 min

“He knows what he’s not allowed to do, and he does it anyway.”Conroy was referring to Trump’s incessant testing of a gag order protecting witnesses, court staff and the jury. “Michael Cohen is a convicted liar and he’s got no credibility whatsoever,” Trump said in an interview with WPVI Philadelphia. Trump could face a ladder of escalating sanctionsProsecutors now want Merchan to fine Trump $1,000 for each of 10 alleged violations of the gag order and to warn that imprisonment could be an option if he continues to flout restrictions. Trump claims the gag order stifles his right to free speech and to campaign as a presumptive party nominee. And while a dispute over one partial gag order might seem like a small wrinkle in an individual case, it conveys a wider truth about Trump’s impact on American life.

Persons: Chris Conroy, Donald Trump, “, he’s, ” Conroy, Michael Cohen, Stormy Daniels, Juan Merchan, Trump, “ Michael Cohen, ” Trump, CNN’s John Miller, “ Judge Merchan, ”, Jeffrey Swartz, Jim Sciutto, CNN Max, lacerating, Merchan, Elizabeth Williams, Todd Blanche, doesn’t, CNN’s Erin Burnett, —, Jack Smith’s, there’s, •, Joe Biden’s, Volodymyr Zelensky, Biden, mishandle, He’s, president’s, Trump’s, George Conway, ” Conway, CNN’s Burnett Organizations: CNN, GOP, The New, Trump, Philadelphia, Prosecutors, New York City Department of Corrections, Cooley Law, US, Trump Organization, Conservative Political, Conference, Biden Locations: The New York, Washington ,, Georgia

☆ A homebuyer's guide to the real-estate revolution
▼ + stars: | 2024-04-23 | by ( James Rodriguez | ) www.businessinsider.com time to read: +16 min

Real-estate agents' commissions have fluctuated between 5% and 6% of the sale price for decades, despite advances in technology and an influx of agents. The recent lawsuits, which accused the NAR and some of the country's largest brokerages of conspiring to keep agents' commissions unfairly high, could signal the start of a new era. If sellers aren't paying out commissions to buyers' agents, buyers themselves could end up on the hook. For example, what happens if the seller isn't willing to pay the buyer's agent's commission? In most states, the buyer's agent can technically just rebate that extra money to their client.

Persons: Austin Whitt, Whitt, —, I've, Steve Brobeck, Sabrina Brown, they've, Michael Warren, Sellers, Prentiss Cox, it'll, you've, doesn't, Jack Ryan, Ryan, homebuying, Rob Hahn, Wendy Gilch, Gilch, I'm, it's, David Dworkin, Dworkin, Cox, It's Organizations: Realtors, National Association of Realtors, NAR, Consumer Federation of America, Getty, University of Minnesota, MLS, Consumer Federation of, National Housing Conference, Justice Department Locations: Tennessee, Nashville, America, North Carolina, United Kingdom, Australia

Donald Trump was once, and may soon be again, the most powerful man in the world. But on Monday, his diminished reality as a criminal defendant will become clear during opening statements in his first criminal trial. Nothing is more antithetical to Trump’s lifelong operating assumption that because of who he is, he is immune from such accountability. Regardless of its outcome, this trial is underscoring how the presumptive GOP nominee is like no other presidential candidate in history. Read Collinson's full analysis ahead of opening statements in Trump's first criminal trial.

Persons: Donald Trump, he’s, Trump, Read, Trump's Organizations: White, Republican Locations: Manhattan

☆ I'm a tax lawyer who helps wealthy people move to lower their taxes — and prepare for residency audits
▼ + stars: | 2024-04-22 | by ( Jordan Pandy | ) www.businessinsider.com time to read: +8 min

They can go where they want to go when they want to go, and it does save them a lot of money. You can live on one side of Lake Tahoe and pay no taxes versus the other side of Lake Tahoe and pay California taxes, which is around 12%. People with means absolutely find themselves going to Florida, but I don't think it's just for the money. We always tell people that being audited for residency is kind of like the tax version of a colonoscopy. Here in New York City, the top 1% of the taxpayers pay almost 50% of the New York City income tax.

Persons: Hodgson Russ LLP, Mark Klein, we'd, they've, that's, you've, they're Organizations: Service, Florida . Finance, TSA, I'm, Tri, Yorker, New Locations: Florida, New York City, Nevada, Texas, New York, Los Angeles, Lake Tahoe, California, Wyoming, Washington, Miami, Long, East Coast, Boca, Delray, Manhattan, York City

For Love & Money is a weekly Business Insider column answering relationship and money questions. Write to For Love & Money using this Google form. Sincerely,Too Tired to FightDear Too Tired,AdvertisementFor me, your question comes down to one thing: Can you afford not to sue your stepdaughter? Still, you must consider the right thing to do beyond the personal emotional, or financial cost of house repairs and legal fees. Write to For Love & Money using this Google form .

Persons: There's, doesn't

☆ Opening statements to show the stark personal and political stakes of Trump’s first criminal trial
▼ + stars: | 2024-04-21 | by ( Stephen Collinson | ) edition.cnn.com time to read: +12 min

But on Monday, his diminished reality as a criminal defendant will become clear in humbling fashion during opening statements in his first criminal trial. The process, known as a Sandoval hearing, offered the ex-president a glimpse of personal and unflattering revelations that the trial could dredge up. The political case against the prosecutions was laid out by South Dakota Gov. But Noem rehearsed a political argument that Trump and his associates will be seeking to land as the trial goes ahead. But the deeply consequential political and personal stakes for the former president will become even clearer when the first trial begins for real on Monday.

Persons: Donald Trump, he’s, Trump, Joe Biden, –, victimhood, He’s, “, ” Trump, president’s, haggled, Sandoval, Stacey Schneider, Jean Carroll, ” Schneider, it’s, Stormy Daniels, Michael Cohen, David Pecker, Pecker, Joshua Steinglass, ”, Juan Merchan, Attorney Alvin Bragg, Bragg, Biden, There’s, Kristi Noem, ” Noem, CNN’s Dana, Noem, Cohen Organizations: CNN, White, Republican, Trump, American Media Inc, National Enquirer, Prosecutors, Manhattan, Attorney, Democratic, Mar, South Dakota Gov, New York Times Locations: Manhattan, North Carolina, New York, United States, “ State, Siena, Dakota

☆ A veteran day trader shares a chart pattern he uses to bet on volatile oil contracts that he says gives him a 90% win ratio
▼ + stars: | 2024-04-21 | by ( Laila Maidan | ) www.businessinsider.com time to read: +5 min

In a previous interview with Business Insider, he explained one of his main strategies: using the Fibonacci retracement tool to trade on price volatility. He aims to place a stop-limit buy order on a contract slightly above a previous high. It's based on the assumption that when the price begins to rally upward, it attracts more traders to the market and increases price action. ET, a time when market participation can increase for the oil market and create unpredictable conditions, he sold earlier at $79.24. He also avoids trading oil contracts when there are headlines about geopolitical instability or a breakout of war because they create uncertainty.

Persons: he's, It's, Vernier Organizations: Business, West Texas, CME Group West Texas, Traders, American Petroleum Institute, Energy Information Administration

☆ Rishi Sunak: Everything seems to be going wrong for British PM
▼ + stars: | 2024-04-20 | by ( Luke Mcgee | ) edition.cnn.com time to read: +6 min

CNN —Life must seem bleak for British Prime Minister Rishi Sunak these days. Sunak has said that he will hold a general election this year, but has yet to confirm its date. It was only voted through by MPs because it has the support of the opposition Labour Party. Anderson is a working-class former miner who is from a part of the country that traditionally votes for the opposition Labour Party. However, Anderson was suspended from the Conservative Party after making comments about the Muslim mayor of London, Sadiq Khan, that Sunak clearly believed were beyond the pale.

Persons: Rishi Sunak, Sunak, –, Boris Johnson, Winston Churchill, It’s, ” Rishi Sunak, Dan Kitwood, Liz Truss, Lee Anderson, Anderson, Elon Musk, Tesla, Kirsty Wigglesworth, doesn’t, Sadiq Khan, Suella Braverman, Braverman, Johnson, Rishi, ” Sunak Organizations: CNN, British, Conservative Party, Labour Party, ”, Conservatives, Allies, Labour, Sunak's, SpaceX, Reuters, Conservative, “, Adidas Samba Locations: Quebec, London, Rwanda

☆ Breaking down the market sell-off and odds this 5% pullback turns into a 10% correction
▼ + stars: | 2024-04-20 | by ( Michael Santoli | ) www.cnbc.com time to read: +9 min

Hard-to-handicap geopolitical conflict never helps, even if it rarely serves as the key swing factor in a market trend. .SPX 1Y mountain S & P 500, 1-year And then there was simply the elevated valuation and over-optimistic sentiment that had built up over that five-month, 28% rally that culminated at the end of March. Over the long span of time, about 40% of all 5% market pullbacks deepened into full 10% corrections. A 10%-ish correction from the S & P 500 high of 5254 would pull the index down below 4800, the former record high from early 2022, and so would be a test of the first-quarter breakout. Last week's 3% decline took the index back to Feb 21 and thereby closed the "Nvidia gap," the 100-point S & P 500 pop the day after Nvidia's blowout fourth-quarter earnings report.

Persons: Warren Pies, Jerome Powell Organizations: Nasdaq, 3Fourteen, Nvidia, Big Tech, Treasury, Silicon Valley Bank Locations: Silicon

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