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Using telescopes capable of detecting X-rays, a team of astronomers has for the first time observed this area — called the “plunging region” — in a black hole about 10,000 light-years from Earth. The study’s findings could help astronomers better understand the formation and evolution of black holes. One thing that’s missing from the study is an actual image of the black hole, because it is too small and far away. But another team of Oxford researchers is working on something even better than a picture: the first movie of a black hole. “For example, it can be used to measure the rotation rate of the black hole,” said Reynolds, who was not involved in the study.
Persons: CNN — Albert Einstein, “ We’ve, , Andrew Mummery, ” It’s, Einstein’s, Mummery, , We’ve, ” Mummery, Weiss, Christopher Reynolds, Reynolds, Dan Wilkins, Wilkins, ” Wilkins Organizations: CNN, Royal Astronomical Society, Leverhulme, Peierls, University of Oxford, NASA, Space, JPL, Caltech, Oxford, University of Maryland, College, Stanford University in Locations: United Kingdom, Africa, Namibia, Stanford University in California
Forget the Magnificent Seven. These AI plays are red hot
  + stars: | 2024-05-16 | by ( Krystal Hur | ) edition.cnn.com   time to read: +6 min
The S&P 500’s utility sector has gained 14% this year, making it the third-best-performing category behind information technology and communication services. Utility stocks tumbled more than 10% in 2023, underperforming the S&P 500’s 24% gain, as investors betting on the artificial intelligence boom crowded into the Magnificent Seven big tech stocks. To be sure, not everyone is jumping into utility stocks. Rising gasoline and shelter costs accounted for more than 70% of the monthly increase in overall inflation, according to the report. Including the ticket price, UK concertgoers will spend, on average, £848 ($1,068) each, which is more than 12 times the average cost of a night out in the UK, according to Barclays’ research.
Persons: , Adam Turnquist, Alicia Wallace, Wednesday’s, Read, Taylor Swift’s, Anna Cooban, Swift Organizations: CNN Business, Bell, New York CNN, Constellation Energy, NRG Energy, International Energy Agency, Federal Reserve, LPL, Nvidia, Micro, Bureau of Labor Statistics, CPI, Barclays, Barclays ’ Locations: New York, United Kingdom, United States, England, Wales, Scotland
On a one-year basis, the expectation increased to 3.3%, up 0.3 percentage point from March and the highest since November 2023. However, expected increases in housing prices are particularly troublesome for policymakers who expected shelter costs to ease this year. Along with expected higher home costs, respondents see rents rising 9.1%, up 0.4 percentage point from the prior month. They expect food prices to increase 5.3% (up 0.2 percentage point from a month ago), gasoline to rise 4.8% (up 0.3 percentage point); and college education to increase by 9%, a 2.5 percentage point surge. Economists surveyed by Dow Jones expect the all-items CPI to show a 3.4% increase for April from the prior year, down 0.1 percentage point from March.
Persons: Philip Jefferson, Dow Jones Organizations: Costco, Consumers, New York Federal Reserve, University of Michigan, Labor Locations: Novato , California, New, New York
Consumer sentiment slumped as inflation expectations rose, despite otherwise strong signals in the economy, according to a closely watched survey released Friday. The University of Michigan Survey of Consumers sentiment index for May posted an initial reading of 67.4 for the month, down from 77.2 in April and well off the Dow Jones consensus call for 76. Along with the downbeat sentiment measure, the outlook for inflation across the one- and five-year horizons increased. The inflation readings represent the biggest pitfall for policymakers as the Federal Reserve contemplates the near-term path of monetary policy. The next important data point for inflation comes Wednesday when the Labor Department releases its consumer price index report for April.
Persons: Dow Jones, Joanne Hsu, Paul Ashworth, Jeffrey Roach, it's, Jerome Powell Organizations: The University of Michigan Survey, Dow, North, Capital Economics, Federal Reserve, LPL, Fed, Labor Department Locations: North America, Michigan
A Master Promissory Note, or MPN, is a legal document that outlines the terms and conditions of your federal student loans. Promissory notes are used for all types of loans, like auto loans, mortgages, and personal loans, though an MPN is a special type of promissory note used exclusively for federal student loans. Why the MPN mattersIt's important for student loan borrowers to sign and understand an MPN for the following reasons:It's Not Optional: Required to receive federal student loans. In general, you'll default on most federal student loans if you have not made a payment in more than 270 days. Ryan Wangman, CEPF Loans Reporter Ryan Wangman was a reporter at Personal Finance Insider reporting on personal loans, student loans, student loan refinancing, debt consolidation, auto loans, RV loans, and boat loans.
Persons: Mark Kantrowitz, You'll, Stacey MacPhetres, Andrew Pentis, Ryan Wangman, Read Organizations: Parent PLUS, Department of Education, Bright, Borrower's, Loan, Federal, Aid, Finance, Northwestern University, Boston Globe Locations: Chevron
How US presidential election years affect the market
  + stars: | 2024-05-07 | by ( Jeanne Sahadi | ) edition.cnn.com   time to read: +5 min
But if the past century is any guide, the long-term consequences of US presidential election years on investor portfolios, including 401(k)s, is minimal at best. Unsurprisingly, those four presidential election years occurred at times of seismic events: The Great Depression. The S&P 500 alone has generated an average return of 7% during presidential election years since 1952, according to LPL Financial. If you limit that to presidential election years in which the incumbent president is running for reelection, the average jumps to 12.2%. “If you’re not going to make a change in a nonelection year, you shouldn’t do so in a presidential election year,” Mukherjee said.
Persons: TIAA, , Niladri Mukherjee, Jeff Buchbinder, Joe Biden, Donald Trump, ” Mukherjee, Mukherjee, What’s, — Mukherjee, you’re, Daniel Crosby, Crosby Organizations: New, New York CNN, US Bank, , Senate Locations: New York, United States
So I started bringing him with us to France as often as possible, which amounts to about half the calendar year. For example, so far this year we spent all of January in France, and will return in early May for the entire summer. AdvertisementOur daily routine is differentOur days in France always begin and end entirely differently than they do in the US. In France, we tend to stay somewhere close to the city center. Last summer, my son tried more types of pasta than I knew existed, a feat he was enormously proud of, especially as a vegetarian.
Persons: It's, we're, France —, it's, he's Locations: United States, France, Iceland, Panama, Cannes, Grasse, Paris, Nice, Europe, States
The family offices covered by the survey had 26% of their assets invested in publicly traded stocks. The study surveyed 190 single family offices around the world, with an average of $1.4 billion in assets. In the U.S., only 49% of family offices have a long-term target return for their portfolio. Still, family offices use various benchmarks for their investment portfolios, with more than three-quarters of those surveyed using some benchmark to evaluate performance. Increasingly, family offices are looking to outsource more functions to reduce costs, especially among smaller family offices of under $500 million.
Persons: William Sinclair, Sinclair, cybersecurity, Robert Frank Organizations: JPMorgan Private Bank Global, Family, JPMorgan Private Bank, JPMorgan Locations: U.S
I lived in New York for most of my life and last year I decided to move to South Dakota. This is how I ended up in the flyover Midwest part of the country — South Dakota — and I love it. South Dakota is beautifully different. I miss living near waterFor all the great things South Dakota offers, large bodies of water are not on that list. AdvertisementThere are some hidden gems in South Dakota as well, but they are nothing compared to what you can find in the New York City area.
Persons: Organizations: Service, New Locations: New York, South Dakota, York, Dakota, Missouri, Minnesota, East Coast, New York City, backyards
Read previewA team inside X, Google's moonshot factory, was working on a revolutionary hearing device, Business Insider reported in 2021. A few months later, Wolverine's lead, Jason Rugolo, spun the project out of Alphabet and formed a startup named Iyo. Rugolo says the company plans to ship its first product by the end of this year. Rugolo told BI he hired Kraft for a stint at Google X to work on what would become Iyo. Iyo isn't the first X project to fly from Alphabet's nest, and it probably won't be the last.
Persons: , Google's, Jason Rugolo, Rugolo, Iyo, Lockheed Martin, Sergey Brin, Noah Kraft, Kraft, we're, X Organizations: Service, Business, Lockheed, Horizons Ventures, US, ARPA, Research Projects Agency, Energy, Google, Doppler Labs, Spotify, TED, Wolverine, BI
Just as the offseason kicked off in mid February, Durde was hired to become the Seattle Seahawks’ new defensive coordinator, becoming the first British coordinator in NFL history. Durde’s first exposure to the NFL came in 2005 when – as part of the NFL International Development Practice Squad program, an early predecessor to the IPP – he spent some time on the practice squad of the Carolina Panthers. He spent three seasons as part of the Falcons’ defensive coaching staff, working across a number of roles under head coach Dan Quinn. His permanent hiring in 2018 meant Durde became the first British full-time coach in NFL history. Under Durde’s stewardship, Dallas’ defensive line developed into one of the most feared in the league, in particular star linebacker Micah Parsons.
Persons: Aden Durde, Durde, , hasn’t, ” Durde, that’s, , , Bill Walsh, Dan Quinn, Carmen Mandato, ” It’s, Efe Obada, Jordan Mailata, Wales rugby international Louis Rees, Zammit, Mailata, Louis, Rees, Jeff Ulbrich, he’s, He’s, Micah Parsons, Parsons, Pro Bowler, Roger Steinman, Mike McDonald –, Dallas, Pete Carroll Organizations: CNN, NFL, Seattle Seahawks, American, Atlanta Falcons, CNN Sport, London Olympians, Scottish, Hamburg, Devils, Carolina Panthers, Kansas City Chiefs, London Warriors, Dallas Cowboys, Brit Osi, IPP, Washington, Philadelphia Eagles ’, Wales rugby international, Eagles, , Falcons, Atlanta Journal, Cowboys, Dallas, Seahawks, Durde Locations: Aden, British, London, Britain, Greenwich, NFL Europe, Hamburg’s, Europe, Atlanta, Texas, Durde’s, Dallas, Seattle
Tesla is due to report earnings after the bell Tuesday, with Wall Street looking for any sign of a reprieve from this year's struggles. Here's the company's setup heading into the report, what analysts expect and which product updates analysts and investors are going to focus on. Big earnings drop expected For the first quarter, analysts polled by LSEG expect Tesla to report earnings of 51 cents per share, which represents a 39.8% year-over-year decline in earnings. Wells Fargo's Colin Langan maintained his underweight rating and cut his price target to $120 a share, citing poor fundamentals. Deutsche Bank's Emmanuel Rosner downgraded the stock to hold from buy and slashed his price target to $123 a share.
Persons: Tesla, Tom Narayan, Itay Michaeli, Wells Fargo's Colin Langan, Deutsche Bank's Emmanuel Rosner, Rosner, Morgan Stanley's Adam Jonas, Jonas, Elon Musk, Musk, America's John Murphy, Murphy, Deutsche Bank's Rosner, Levy Organizations: Management, RBC, LSEG, Citi, Deutsche, EV, Reuters, America's, Barclays, Tesla
A deep basin called Sputnik Planitia, which makes up the “left lobe” of the heart, is home to much of Pluto’s nitrogen ice. The New Horizons spacecraft took an image of Pluto's heart on July 14, 2015. Johns Hopkins University Applied Physics Laboratory/Southwest Research Institute/NASAThrough new research on Sputnik Planitia, an international team of scientists has determined that a cataclysmic event created the heart. The teardrop shape of Sputnik Planitia is a result of the frigidity of Pluto’s core, as well as the relatively low velocity of the impact itself, the team found. The researchers believe that the new theory regarding Pluto’s heart could shed more light on how the mysterious dwarf planet formed.
Persons: Clybe Tombaugh, Pluto, it’s, , Harry Ballantyne, Erik Asphaug, ” Asphaug, “ That’s, Sputnik Planitia, Martin Jutzi, Kelsi Singer, ” Singer Organizations: CNN, Regio, Johns Hopkins University Applied Physics Laboratory, Research Institute, NASA, Sputnik, Pluto, University of Bern, University of Arizona’s, Laboratory, University of Bern’s Physics, Kelsi, Southwest Research, New Locations: United States, Switzerland, Boulder , Colorado
Chadwick Burnaw, the owner of an event company, hosted the Sazón Latin Food Festival in Austin. This article is part of "Festivals of Flavor," a series celebrating Latin festival cuisines. Festivalgoers danced to music at the Sazón Latin Food Festival in March. Cat Cardenas for BIHe'd scope out San Francisco's nightlife scene, looking for clubs that would play the merengue and bachata music he was familiar with. They served Jamaican-Latin fusion dishes alongside their kids at the Sazón Latin Food Festival.
Persons: Chadwick Burnaw, , he'd, Burnaw, Festivalgoers, Cat Cardenas, Cardenas, Chris Burrell, Yadira, we'd, Burrell, . Cat Cardenas, they've, Tatiana French, Dejean, Mix'T, they'd, pico de gallo, it's, she's, there's Organizations: Service, Washington, Food, San Francisco State University, BI, City, aguas, Honduran, sos pwa Locations: Austin, South Austin, Caribbean, DC, San Francisco, Texas, California, Bay, America, Haiti, Dominican Republic, Samba, Clarendon, Jamaica, Honduras, ., Puerto Rican, Costa Rican, Virginia, French, Haitian, East Austin
That means those saving cash in money market funds and Treasury bills can expect to see their rates stay higher for longer. The annualized seven-day yield on the Crane 100 list of the 100 largest taxable money funds is currently 5.13%. The appetite for money market funds is evident in the record amount of cash pouring into the products. Last week, there was $6.11 trillion sitting in money market funds, according to the Investment Company Institute , up from $5.87 trillion in mid-December. Then there are moderate risk investors with longer time horizons, which Vanguard surveys show are the majority of investors, he said.
Persons: They've, Peter Crane, Shelly Antoniewicz, Marguerita Cheng, you'll, Cheng, Roth, Barry Glassman, Glassman, he's, Roger Aliaga, Diaz, Vanguard's, Cash, Aliaga Organizations: Federal, Crane, Investment Company Institute, Blue, Global, CNBC, Wealth, Treasury, Vanguard
Driven by China, Coal Plants Made a Comeback in 2023
  + stars: | 2024-04-10 | by ( Max Bearak | ) www.nytimes.com   time to read: 1 min
Global capacity to generate power from coal, one of the most polluting fossil fuels, grew in 2023, driven by a wave of new plants coming online in China that coincided with a slowing pace of retirements of older plants in the United States and Europe. The findings came in an annual report by Global Energy Monitor, a nonprofit organization that tracks energy projects around the world. The last time the group found coal capacity to have grown was in 2019. Coal’s heavy greenhouse gas footprint has prompted calls for it to be rapidly phased out as a source of energy, and all of the world’s countries have broadly agreed to reduce their dependence on coal. But industrializing economies, particularly in Asian countries with inexpensive access to domestic coal reserves, have set longer horizons for their transitions.
Organizations: Global Energy Monitor Locations: China, United States, Europe
James D. Robinson III, who as chief executive of the American Express Company from 1977 to 1993 helped transform Wall Street into a more competitive financial marketplace, with a wide diversity of businesses housed under single roofs, died on Monday in Roslyn, N.Y., on Long Island. The death, at a hospital, was caused by respiratory failure from recurrent pneumonia, Walter Montgomery, a spokesman for the family, wrote in an announcement. A soft-spoken son of the Georgia gentry, Mr. Robinson followed a well-worn path to financial success, power and influence: from private school to the Ivy League and then on to the moneyed canyons of Lower Manhattan, with side trips to the corridors of Capitol Hill. In Washington, he was among Wall Street’s most influential advocates for deregulating the financial industry and widening its horizons. Some called him the unofficial secretary of state for corporate America.
Persons: James D, Robinson III, Walter Montgomery, Robinson, Wall Organizations: American Express Company, Ivy League, America Locations: Roslyn, N.Y, Long, Georgia, Lower Manhattan, Capitol, In Washington
Nicole Kidman has Australian, Hawaiian, Scottish, and Irish influences in her life. Jordan Strauss/AP ImagesWhen you think of Kidman, the first thing you think of might be her Australian accent. Speaking to Independent.ie in 2014, Kidman said her father's ancestors traveled from Ireland to Australia as free settlers in 1839. We come from the line of the Callaghors and, obviously, how I look, you know, I have Irish skin," Kidman said. Kidman famously starred in "Far and Away" — with an Irish accent — alongside her then-husband Tom Cruise in 1991.
Persons: Nicole Kidman, Jordan Strauss, Kidman, Tom Cruise Locations: Ireland, Australia, Northern Ireland
As House lawmakers prepare to vote on the bill Wednesday, TikTok is encouraging users to call their representatives with a full-screen notification about the legislation. Okamoto’s TikTok account features videos on women’s health, sex education and the occasional glimpse into her personal life. Her sisters are TikTok creators in their own right, one of whom is using her income from TikTok to pay her own way through college, Okamoto said. It’s so tired,” said Grey Prnce, who together with her spouse, Grayson France, co-manages the TikTok account @officiallyverygay. Thus was born @Got2GoNYC, a TikTok account that aims to map all the publicly accessible toilets in the city.
Persons: Washington CNN — TikTok, TikTok, Shou Chew, Nadya Okamoto, Okamoto, She’s, , ” Okamoto, it’s Chew, , Grey Prnce, Grayson France, Teddy Siegel, Siegel, ducking, @Got2GoNYC, ” Siegel, it’s, Prnce Organizations: Washington CNN, Target, CNN, Chinese Community Party Locations: China, Beijing, United States, New York City, Utah, Salt Lake City
Read previewAmazon's push to grow its $47 billion ad business beyond its core search ads is starting to gain steam with advertisers. About 70% to 80% of advertisers' Amazon budgets go to search ads that drive sales, said Laura Meyer, founder and CEO of Amazon agency Envision Horizons. But Amazon is increasingly investing in adtech to grow its ad business beyond search placements and better compete with giants like Meta and Google. AdvertisementPower said that brands often spend 8% of Amazon sales on ads — mostly search ads that drive sales. He said clients are now increasing budgets to represent 12% to 15% of Amazon sales, with the incremental dollars going toward Amazon's adtech formats.
Persons: , Laura Meyer, Patrick Miller, Mark Power, Power, Horizon's Meyer, it's, Ross Walker, They've Organizations: Service, Amazon, Meta, Google, Business, Trade Locations: Acadia
Excluding food and energy, the increase for core inflation, is forecast at a 0.3% gain, also one-tenth of a percentage point above the previous month. On a year-over-year basis, headline inflation is expected to show a 3.1% gain and core inflation a 3.7% increase when the Labor Department's Bureau of Labor Statistics releases its latest reading on the consumer price index Tuesday at 8:30 a.m. On the brighter side, House said lower prices on travel, medical care and other services helped keep inflation in check. Still, Wells Fargo has raised its full-year inflation forecast. Focusing on the core personal consumption expenditures price index, the preferred Fed gauge, Wells Fargo sees inflation at 2.5% for the year, versus a prior estimate for 2.2%.
Persons: Elijah Nouvelage, Dow Jones, Sarah House, Wells, Wells Fargo Organizations: Kroger, AFP, Getty, Labor Department's Bureau of Labor Statistics, Fed, AAA, CPI, Wells, New York Fed Locations: Atlanta , Georgia, Wells Fargo, isn't
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBright Horizons CEO: Lack of affordable childcare is holding back the economyBright Horizons CEO Stephen Cramer joins 'The Exchange' to discuss the effects of childcare costs on the economy, what keeps childcare costs as high as they are, and more.
Persons: Stephen Cramer Organizations: Bright
What makes these stocks so formidable is the way they are "constantly reinventing themselves," Jeff Marks, the Club's director of portfolio analysis, said alongside Jim on stage. The Club portfolio, which consists of 32 stocks and cash, has nearly a 22% weighting in the Super Six. Let's consider how to allocate a hypothetical portfolio consisting of 12 stocks and 10% cash. Understanding how the stocks are linked creates an opportunity to build a well-rounded portfolio that balances risk and future returns. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.
Persons: Jim Cramer, … I'm, Jim, Jeff Marks, Let's, Eli Lilly, Linde, , Tim Cook, we're, it's, Jim Cramer's Organizations: Apple, Microsoft, Meta, Nvidia, Tesla, Palo Alto Networks, Costco, Linde, Google, Facebook, Amazon Web Services, Super, Jim Cramer's Charitable, CNBC Locations: Palo, Amazon, lockstep
Morgan Stanley reiterates Apple as overweight Morgan Stanley said it's standing by Apple amid reports the company canceled its car project. Barclays reiterates Microsoft as overweight Barclays says investments made in advertising is a "$50 billion opportunity" for Microsoft. Goldman Sachs reiterates Salesforce as buy Goldman said it sees "upside" heading into Salesforce earnings Wednesday afternoon. Barclays initiates Weatherford as overweight Barclays says the oil services company is a "reborn industry player." Barclays upgrades Ecolab as overweight from equal weight Barclays says it has "strong visibility" for the food safety company.
Persons: Smucker, Stifel, DELL, Morgan Stanley, Apple, it's, NVDA, Goldman Sachs, Goldman, FSLR, Salesforce, Raymond James, Bernstein, Stellantis, Cantor Fitzgerald, Cantor, KBW, it's bullish, Guggenheim, McDonald's, Craig, Hallum Organizations: Apple, Barclays, Microsoft, U.S, " Bank of America, Nvidia, Bank of America, Constellation Energy, JPMorgan, Apollo, JMP, Weatherford, Bright, Holdings Locations: J.M, CY2026, Europe, UK, China, India, CEG
The state of Alaska — which covers 665,384 square miles (426 million acres) — is home to five of the 15 least-visited national parks for 2023. Wrangell-St. Elias National Park & Preserve, Alaska - 78,305 recreation visitsAmerica’s largest national park, Wrangell-St. Elias encompasses 13.2 million acres — or about the size of Yellowstone National Park, Yosemite National Park and Switzerland combined, the Park Service says. Dry Tortugas National Park, Florida - 84,285 recreation visitsThis island park in Florida is among 20 National Park Service sites that broke visitation records in 2023. Channel Islands National Park, California - 328,746 recreation visitsStretching over five islands and the surrounding ocean, Channel Islands National Park offer opportunities to hike, snorkel, kayak, birdwatch and more. While Pinnacles may rank among the 15 least-visited national parks, it gets very busy on weekends, holidays and throughout the spring, according to a notice on the park’s website.
Persons: Alaska’s Gates, , ” Peter Christian, fa’asamoa, Gates, , Katmai, Brooks Camp, Elias, Lumir, Nabesna, McCarthy Organizations: CNN, &, CNN Travel, of, Park Service, National Parks, & Preserve, South Pacific, Hawaiian Airlines, Lake Clark, National Park Service, Getty, Isle Royale, NPS, Wolves, Elias, Park & Preserve, Yosemite National, Voyageurs National, Voyageurs National Park, ” Voyageurs, Voyageurs, Service, Channel Locations: Alaska’s, Fairbanks, Alaska, of American Samoa, South, Samoa, Smoky, Wild Rivers, American Samoa, Honolulu, , Alaska, Isle, Lake Superior, Isle Royale, Park , Michigan, Brooks, , Washington, Wrangell, St, Elias, Yellowstone, Yosemite, Switzerland, , Florida, Florida, Key, Fort Jefferson, , Nevada, Minnesota, Voyageurs National Park , Minnesota, Canada, Guadalupe, Park , Texas, Texas, Salt, , South Carolina, South Carolina, Congaree, There’s, Santa Cruz, , California, Southern California
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