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Hiring activity was stronger than expected in the US private sector last month, according to payroll processor ADP’s latest employment estimates. Employers added 192,000 jobs in April, down from March's job gains, (which were upwardly revised by 24,000 to 208,000 jobs) according to ADP’s national employment report released Wednesday. However, economists were anticipating a net gain of 175,000 jobs, according to FactSet consensus estimates. While job growth has accelerated to start the year, wage gains are showing a continued moderation, according to the report. While ADP’s tabulations don’t always correlate with the official federal jobs report — which is due out Friday — it’s sometimes viewed as a proxy for overall hiring activity.

Persons: tabulations, it’s

☆ Biden Is Still Losing. His Campaign Should Stop Acting Like He Isn’t. - The New York Times
▼ + stars: | 2024-05-01 | by ( Ross Douthat | ) www.nytimes.com time to read: +2 min

In February, there was a flurry of discussion about whether Joe Biden’s advancing age and seeming weakness in a matchup with Donald Trump meant that he should step aside. “The Drumbeat for Biden to Step Aside Will Only Grow Louder” ran one headline from that period, from Robert Kuttner in the American Prospect. All it took was Biden giving a passable State of the Union address: Thereafter his poll numbers marginally improved, the optimists on the Democratic side seized the rhetorical initiative, and the “should Biden step aside?” discourse faded into background noise. But it’s also quite consistent; since last fall, both candidates are bouncing around within a very narrow range. ), because voters aren’t paying close attention yet (but don’t they already know both of the candidates quite well?

Persons: Joe Biden’s, Donald Trump, Biden, Nate Silver, Ezra Klein, Robert Hur, Robert Kuttner, Kuttner, Robert F, Kennedy Jr, it’s, he’s Organizations: Democratic, Trump, Electoral College Locations: Georgia, Michigan, Arizona , Nevada , Pennsylvania, Wisconsin

☆ Dow closes 570 points lower, capping losing month for stocks ahead of Fed decision
▼ + stars: | 2024-04-30 | by ( Krystal Hur | ) edition.cnn.com time to read: 1 min

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☆ Stagflation fears just hit Wall Street. Now for the next crucial report on prices
▼ + stars: | 2024-04-26 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

New York CNN —The Federal Reserve’s favorite inflation reading is due Friday morning. Investors are nervously awaiting the report after first-quarter US GDP came in softer than expected Thursday. Stocks tumbled as the slowdown in GDP, coupled with stubbornly high inflation data, stoked fears of stagflation. Wall Street earlier this year expected that the central bank would ease rates as many as six times in 2024, beginning in March. Yellen said the weaker reading was not “concerning,” mentioning that measures of underlying growth were strong in Thursday’s report.

Persons: Stocks, ”, Ayako Yoshioka, Janet Yellen, Alessandra Galloni, Alicia Wallace, ” Yellen, “, we’ve, Yellen, Read, Freddie Mac, Bryan Mena, Lawrence Yun Organizations: CNN Business, Bell, New York CNN, Gross, Commerce Department, Atlanta, Fed, Thursday’s, Group, Traders, Bank of America, Reuters, National Association of Realtors Locations: New York, Yellen

☆ Justice Department rebuffs Republican requests for audio of Biden interview with special counsel
▼ + stars: | 2024-04-25 | by ( Annie Grayer | ) edition.cnn.com time to read: +5 min

CNN —The Department of Justice doubled down on its decision to not release the audio files of President Joe Biden’s interview with special counsel Robert Hur to House Republicans, stating that Republicans have not established a legitimate legislative purpose for demanding these recordings, in a new letter obtained by CNN. The DOJ’s refusal to turn over the audio comes as Republicans find their impeachment inquiry into the president stalled now that the prospects of the investigation ending in impeachment are increasingly unlikely. Without the votes in their narrow majority or evidence of an impeachable offense, Republicans are now struggling with how to end their probe. Uriarte pointed to the possibility that audio files can be manipulated through “cutting, erasing, and splicing” in a way that increases the privacy concerns of the witness. Uriarte therefore accused Republicans of going after these audio files for the wrong reasons.

Persons: Joe Biden’s, Robert Hur, Carlos Uriarte, James Comer, Jim Jordan, General Merrick Garland, Hur, Mark Zwonitzer, Uriarte, Biden, ” Uriarte, spokespeople, Comer, Jordan, “, Arseniy Yatsenyuk, Zwonitzer, ” Organizations: CNN, Department, Justice, House Republicans, Republicans, DOJ, Ukrainian, Fox News, “

☆ Americans are falling behind on their payments
▼ + stars: | 2024-04-25 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

Americans are already struggling to keep up with their credit card payments. Strong consumer spending has buoyed the US economy through the Fed’s aggressive hiking cycle that has brought interest rates to a 23-year high. Economists say that Fed officials look closely at Americans’ ability to make their payments. Nunes, himself a former Republican congressman from California, pointed to how Trump Media has been among the most expensive stocks to borrow. “This is particularly troubling given that ‘naked’ short selling often entails sophisticated market participants profiting at the expense of retail investors,” the Trump Media CEO wrote.

Persons: New York CNN —, Austan Goolsbee, ’ ”, ”, Ramon Laguarta, Matt Egan, Devin Nunes, ” Nunes, Nunes, Read, Hanna Ziady, Colm Kelleher, “ Organizations: CNN Business, Bell, New York CNN, Chicago Federal, Society for, New York Fed, ISI, PepsiCo, Commerce Department, Atlanta Fed, Social, Trump Media, Trump Media & Technology Group, Truth Social, Financial Services, Republican, Traders, UBS, Credit Suisse Locations: New York, California, Switzerland, Swiss

☆ Everything you need to know about the Russian Tu-22M3 bomber plane and how Ukraine said it shot one down in war first
▼ + stars: | 2024-04-20 | by ( Nathan Rennolds | ) www.businessinsider.com time to read: +3 min

Ukraine said it had shot down a Russian supersonic Tu-22M3 plane. Here's everything you need to know about the Tu-22M3 and how Ukraine says it shot it down. AdvertisementUkrainian intelligence said on Friday that it had shot down a feared Russian Tu-22M3 bomber plane for the first time as it launched a combat mission on Ukraine. AdvertisementTupolev describes the Tu-22M aircraft series as a "conventionally designed aircraft with a variable-swept low wing." A weeklong ambushImage appearing to show the Tu-22M3 aircraft after crashing.

Persons: —, Vladimir Vladimirov Kyrylo Budanov, HUR, WarTranslated, Dmitri Organizations: Service, NATO, Tupolev, Defence Intelligence, Ukraine, BBC, Main Directorate of Intelligence, British Ministry of Defence, Russian Air Force Locations: Ukraine, Russian, Soviet, BBC Ukraine, Russia

☆ Russia recruiting female convicts into the military report says, as the role of women in the Ukraine war expands
▼ + stars: | 2024-04-20 | by ( Rebecca Rommen | ) www.businessinsider.com time to read: +3 min

Read previewRussia is recruiting female convicts to bolster its war effort in Ukraine, the Kyiv Post reported, citing a Ukrainian intelligence spokesperson. The role of women in the war has expanded rapidly since Russia's full-scale invasion of Ukraine in 2022. The practice of offering convicts freedom in exchange for military service in Ukraine began under Yevgeny Prigozhin, the late founder of the mercenary Wagner Group. Business Insider contacted the Russian Ministry of Defense for comment. Elena Tita/Global Images Ukraine via Getty ImagesUkrainian women have been joining the military in significant numbers since Russia's full-scale invasion in 2022.

Persons: —, Andriy Yusov, Yusov, Yevgeny Prigozhin, Wagner, Vladimir Osechkin, Dmitry Peskov, Vladimir Putin, Elena Tita Organizations: Service, Kyiv Post, Kyiv, Business, Newsweek, UK Ministry of Defence, Russian Ministry of Defense, Getty Images, Ukraine's Ministry of Defense, BBC, CNBC Locations: Russia, Ukraine, Kyiv, Ukrainian, Russian, Zaporizhzhia Oblast

☆ What stalled this year’s seemingly infallible stock market rally
▼ + stars: | 2024-04-19 | by ( Krystal Hur | ) edition.cnn.com time to read: +7 min

Investors had hoped that corporate earnings would help revive the stalled rally, but a strong start to the season hasn’t been enough to excite investors. The 30-year fixed-rate mortgage averaged 7.10% in the week ending April 18, up from 6.88% the previous week, according to Freddie Mac data released Thursday. Mortgage rates are climbing based on expectations that the Federal Reserve won’t cut interest rates anytime soon. The Fed doesn’t directly set mortgage rates, but its actions do influence them, and persistently hot inflation readings are keeping the Fed on hold. If inflation stalls any further, or even worsens, mortgage rates could climb higher this year.

Persons: —, hasn’t, Jerome Powell, “, ”, Michael Landsberg, Pierre, Olivier Gourinchas, Israel, Brent, Bryan Mena, Freddie Mac, Sam Khater, Freddie Mac’s, Read, Anna Cooban, Tim Cook, Pham Minh Chinh, Cook, Apple “ Organizations: CNN Business, Bell, New York CNN, Dow Jones, Nasdaq, Federal Reserve, Data, Employers, Fed, Landsberg Bennett, Wealth Management, Monetary Fund, Treasury, Investors, CNN, Federal, China Apple, Vietnamese, Apple Locations: New York, East, Iran, Israel, Syria, Vietnam, China, Hanoi, Beijing

☆ US regional banks are still under pressure. That’s likely to continue
▼ + stars: | 2024-04-18 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

New York CNN —Despite overcoming a crisis in 2023, the pain isn’t over for America’s regional banks. Shares of New York Community Bank have tumbled 71%, Bank OZK shares have slid 16% and Webster Financial shares have lost 11%. Regional banks reported wide losses on their profits during the first quarter. PNC projects that its net interest income will fall between 4% to 5% in 2024 from last year. “I’m worried about a handful of [regional banks],” Bair told CNBC on Tuesday.

Persons: that’s, Jerome Powell, “, ” Powell, Sheila Bair, “ I’m, ” Bair, ” Tesla, Tesla, Elon Musk, Chris Isidore, Musk, Chancellor Kathaleen McCormick, Read, Samantha Delouya, —, Maximilian Kotz, Leonie Wenz, Noah Diffenbaugh Organizations: CNN Business, Bell, New York CNN, Regional Banking, New York Community Bank, Bank OZK, Webster Financial, PNC Financial, T Bank, US Bancorp, Citizens, PNC, Valley Bank, Signature Bank, First Republic Bank, Federal Reserve, Wilson Center, Federal Deposit Insurance Corporation, CNBC, Tesla, Securities and Exchange Commission, United Nations, Potsdam, Climate, CNN, Stanford University Locations: New York, Delaware, ” Delaware

☆ Ukraine says it took out prized Russian S-400 launchers with a strike on a base in Crimea
▼ + stars: | 2024-04-18 | by ( Jake Epstein | ) www.businessinsider.com time to read: +4 min

Ukraine said its forces took out multiple S-400 launchers during an attack on a Russian base. The strikes on the Dzhankoi base in Crimea this week destroyed or damaged four launchers, Kyiv said. The S-400 is a prized Russian air-defense system, and relatively few have been lost during the war. AdvertisementUkraine's military intelligence agency says Kyiv took out several of Russia's prized S-400 air-defense launchers during an attack on an airbase in the occupied Crimean peninsula this week. "The occupiers believed in their newest air-defense system so much that they placed warehouses with missiles directly next to the launcher," Atesh claimed in a Telegram statement.

Persons: —, Ukraine's, 🇺🇦 @ Organizations: Service, Ukrainian, Directorate of Intelligence, Business Locations: Ukraine, Crimea, Russian, Crimean

Asked for proof of his claim that Mr. Biden was personally directing the local cases against him, Mr. Trump pointed to purported ties between prosecutors and “Washington,” but provided no evidence that Mr. Biden had been involved in any of the hiring decisions, conversations or meetings that Mr. Trump cited. The writer E. Jean Carroll filed her first lawsuit against Mr. Trump in November 2019, accusing him of defamation. Faulty and irrelevant comparisonsWhat Mr. Trump Said“I got indicted more than Al Capone.”— in a rally in Ohio in MarchFalse. Mr. Hur described Mr. Biden as a “well-meaning, elderly man with a poor memory” who had “diminished faculties and faulty memory.” He did not declare Mr. Biden mentally incompetent to stand trial. Inaccurate attacks on judgesWhat Mr. Trump Said“Judge Juan Merchan is totally compromised, and should be removed from this TRUMP Non-Case immediately.

Persons: Donald J, Trump, President Biden, Trump’s, ”, Trump Said “ Biden, General Merrick B, Garland, Trump “, Biden, Mr, Doug Mills, Trump Said, Jack Smith, Merrick Garland’s, Fani Willis, Letitia James, Alvin L, Bragg, Matthew Colangelo, Colangelo, —, James’s, Colangelo’s, Bragg ramped, Willis, Willis — Nathan J, Wade, Ketanji Brown Jackson, Kamala Harris, Harris, Crooked Joe Biden, James, Jean Carroll, Smith, Brittainy Newman, Alexei Navalny, Navalny, Letitia James ’, Hunt, PolitiFact, Trump Said “, Al Capone, Capone, Brad Schwartz, Hillary, Bill, Bush, Reagan, Hillary Clinton, Clinton, Bill Clinton’s, Taylor Branch, Branch, “, Barack Obama, George W, Bill Clinton, George H.W, Ronald Reagan, Robert K, Hur, Biden’s, Juan Merchan, Loren, Loren Merchan, Merchan, Merchan’s, Justice Merchan, Ahmed Gaber, Arthur F, Justice Engoron, Engoron Organizations: New York, Democratic Party, Trump, Justice Department, The New York Times, The, White House, Trump . Credit, New York Times, American People, Biden Administration, Prosecutors, Mr, Manhattan, Washington, Fox News, New, Times, White, Counsel’s Office, Supreme, Black, Trump Organization, Democrat, Companies, Exxon Mobil, Trump Foundation, Trump University, Associated, National Archives, Records Administration, TRUMP, Twitter, Credit Locations: Manhattan, Georgia, Trump ., Washington, New York, “ Washington, Fulton County ,, Russian, New, Ohio, Fla, South Carolina, Trump’s Florida, Beach

☆ Trump stock tanks after issuing tens of millions new shares
▼ + stars: | 2024-04-15 | by ( David Goldman | Krystal Hur | ) edition.cnn.com time to read: +4 min

New York CNN —Trump Media & Technology Group’s stock is tumbling again after the company announced a massive new influx of shares. The stock had rocketed higher in recent months in anticipation of merging a blank-check acquisition company with Trump’s media business. Anyone who bought Trump Media at the closing high of $66.22 on March 27 has now lost more than half of their money. Why Trump Media stock is so volatileThere are a number of reasons behind the stock’s eye-popping swings. Unless he were to purchase stock in the new public offering, Trump would own just under half of the company’s publicly traded stock after it issues more shares.

Persons: New York CNN —, Donald Trump, Matthew Tuttle, ”, Tuttle, “, … You’ve, Trump, Donald J Organizations: New, New York CNN, New York CNN — Trump Media & Technology, Tuttle Capital Management, Trump, ”, Trump Media, Wall Locations: New York, “

☆ Dow tumbles more than 300 points on fears of potential attack by Iran and inflation woes
▼ + stars: | 2024-04-12 | by ( Krystal Hur | ) edition.cnn.com time to read: +2 min

New York CNN —US stocks slid Friday morning as Wall Street worried about escalating tension in the Middle East and sticky inflation. The US and Israel are on alert for a potential attack by Iran or its proxies after an Israeli strike in Damascus last week. The price of the most actively traded gold futures contract rose to roughly $2,432 a troy ounce. Elsewhere, fresh data showed that Americans’ attitudes toward the economy have dampened over the past few months as inflation stays stubborn. The University of Michigan’s latest consumer survey showed that sentiment largely held steady in April, according to a preliminary reading released Friday.

Persons: Dow, JPMorgan Chase, Jamie Dimon, ” Dimon Organizations: New, New York CNN, Nasdaq, Texas, Energy, Federal Reserve, JPMorgan, JPMorgan Chase, University of Michigan’s Locations: New York, Israel, Iran, Damascus, Gaza, Ukraine

☆ Energy stocks are hot again. The rally could have more fuel to burn
▼ + stars: | 2024-04-12 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

These robust gains come after a lackluster year for energy stocks. The energy sector fell roughly 5% in 2023, underperforming the broader S&P 500’s double-digit gains as concerns about the global economy hurt energy demand. Some investors say that energy stocks are poised for more gains, given the continued geopolitical turmoil and the US economy’s resilience. Energy stocks often do well when the economy is strong, since there’s more energy demand to fuel goods- and services production. Plug Power shares have slipped 34% this year, SolarEdge Technologies shares have tumbled 25% and Enphase Energy shares have slid 8%.

Persons: Nancy Curtin, “, ”, Bob Doll, he’s, Donald Trump, Trump, Matt Egan, ” Alex Durante, Read, Alicia Wallace, Price Organizations: CNN Business, Bell, New York CNN — Energy, Marathon Petroleum, Exxon Mobil, Occidental Petroleum, Halliburton, West Texas, Brent, Federal Reserve, Energy, RBC Capital Markets, Crossmark Global Investments, Organization of, Petroleum, Clean Energy, SolarEdge Technologies, Enphase Energy, Tax Foundation, CNN, Trump, of Labor Statistics, PPI Locations: New York, Ukraine, OPEC, China, Mexico

☆ Wall Street wants answers from big banks about the economy
▼ + stars: | 2024-04-11 | by ( Krystal Hur | ) edition.cnn.com time to read: +7 min

New York CNN —Big banks kick off earnings season Friday. “Earnings season just became significantly more important,” said JJ Kinahan, chief executive of IG North America, in a Wednesday note. On one hand, lofty rates could help pad banks’ net interest income, since they can charge a higher borrowing rate for loans and mortgages. Inflation has been a bane on Biden’s presidency, with voters consistently giving him low marks for his handling of the economy. Fed Chair Jerome Powell has said that policymakers want to see more evidence that inflation is headed toward their 2% goal.

Persons: ”, JJ Kinahan, JPMorgan, Wells, You’ll, Carol Schleif, Wall, Jamie Dimon, “, Alicia Wallace, Friday’s, Joe Biden, ” Biden, Bryan Mena, Jerome Powell, Powell Organizations: CNN Business, Bell, New York CNN, Dow Jones, Nasdaq, IG North America, JPMorgan Chase, BlackRock, Citigroup, PNC Financial Services, BMO Family Office, Federal Reserve, Wall, Traders, Bureau of Labor Statistics, —, Federal, Fed Locations: New York, Wells Fargo, pare

☆ DOJ officials reject Republicans' demands for audio recordings of Biden's classified documents interview
▼ + stars: | 2024-04-08 | by ( Erin Snodgrass | ) 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. Jordan and Comer subpoenaed the tapes after Hur released his report in February. AdvertisementSpecial counsel Robert Hur questioned Biden in October about classified documents found in 2022 at his Deleware home and an office he used after leaving office. AdvertisementBiden's handling of classified documents is unlikely to be a major campaign pillar for Republicans and GOP frontrunner former President Donald Trump in the coming election, Schmidt predicted. "That's why Republicans think it's so important they get ahold of these tapes," Schmidt said.

Persons: —, Joe Biden's, Carlos Uriarte, Jim Jordan of, James Comer of, Comer, Hur, Uriarte, Matthew Schmidt, Robert Hur, Biden, zeroed, Schmidt, Donald Trump, Merrick Garland Organizations: Service, Justice, DOJ, Jordan, Business, University of New, Republicans, Washington Post, CNN, Justice Department, GOP Locations: Jim Jordan of Ohio, James Comer of Kentucky, University of New Haven

Stocks rallied Friday after the latest jobs report came in piping hot. The Dow rose 307 points, or 0.8%, after climbing more than 400 points at the day's highs. Still, all three major indexes ended the week lower, starting the second quarter of the year on a sour note. While the latest jobs report supports the idea that the US economy is holding strong against interest rates at a 23-year high and could avoid a recession, it also puts into question when the Federal Reserve will begin its long-awaited rate cuts. The US economy added 303,000 jobs last month, according to data released Friday by the Labor Department.

Persons: Stocks, Mike Sanders Organizations: Dow, Nasdaq, Federal Reserve, Labor Department, Fed, Madison Investments

☆ Premarket stocks: The rally is sputtering. Earnings season could revive it
▼ + stars: | 2024-04-05 | by ( Krystal Hur | ) edition.cnn.com time to read: +5 min

Investors are hoping the upcoming earnings season will help bring back this year’s banner rally. The first-quarter earnings season could get the stock rally chugging along again, some investors say. Earnings season kicks off next week with quarterly updates from Delta Air Lines, Citigroup, BlackRock, JPMorgan Chase and Wells Fargo. For the millions of recent Latino immigrants in the US, construction jobs have low barriers to entry and the openings are plentiful. The crackdown comes as its rival Netflix has attributed a jump in signups from its recent crackdown on password sharing.

Persons: Stocks, FactSet, ”, Matthew Stith, Wells, Yung, Yu Ma, Francis Scott Key, Ramishah Maruf, Gloria Pazmino, We’re, It’s, Reinaldo Quintero, “, ” Read, Samantha Murphy Kelly, Bob Iger, hasn’t, Read Organizations: CNN Business, Bell, New York CNN, Investors, Bartlett Wealth Management, Delta Air Lines, Citigroup, JPMorgan Chase, BMO Wealth Management, Bureau of Labor Statistics, CNN, Disney, CNBC, Netflix Locations: New York, BlackRock, Wells Fargo, Baltimore, America, signups

Washington CNN —CNN has sued for access to recordings of federal investigators’ interview with President Joe Biden in the now-closed probe over his handling of classified documents. “Without access to any of the interview records, the press and public initially could not form their own conclusions about Hur’s characterization of Biden. Jason Leopold, a reporter for Bloomberg News who frequently brings FOIA lawsuits, also has filed two lawsuits for access to records Hur created. The Judicial Watch complaint, filed in March, specifically seeks access to the Biden interview recordings. In the interview, Hur said Biden couldn’t remember the years he was vice president or when his son died.

Persons: Washington CNN —, Joe Biden, Robert Hur’s, Biden, Hur, …, Donald Trump, Jason Leopold, Beau’s, “, ” Organizations: Washington CNN, Washington CNN — CNN, Justice, DOJ, CNN, DC, Justice Department, Bloomberg News, Heritage Foundation, Judicial Watch, ” Locations: Washington ,

☆ 3 things rattling markets this week
▼ + stars: | 2024-04-04 | by ( Krystal Hur | ) edition.cnn.com time to read: +7 min

The S&P 500 tumbled the first two trading days of the new quarter and is down 0.8% for the week after paring back some of its losses on Wednesday. Some Fed officials revealed at the central bank’s policy meeting last month that they see fewer rate cuts than the three they forecast last December for 2024. Traders see a 63% expectation that the Fed cuts rates in June, a drop from more than 70% a week earlier, according to the CME FedWatch Tool. “With Middle East tensions on the rise, OPEC+ supply side measures have pushed crude oil volatility down,” BofA strategists wrote in a Wednesday report. “Adding to a complex backdrop, we now estimate that improving economic growth expectations have helped push global oil markets into a deficit.”The price of gold has also climbed this week.

Persons: New York CNN — Stocks, “, ”, Brent Schutte, Jerome Powell, •, Loretta Mester, Raphael Bostic, Brent, Michael Shvartsman, Gerald Shvartsman, Donald Trump’s, Matt Egan, “ Michael, ” Damian Williams, Bruce Garelick, ” Williams, ” Read, Joe Biden, Sean Lyngaas, China Nicholas Burns, Antony Blinken, Read Organizations: CNN Business, Bell, New York CNN —, Treasury, FactSet, Northwestern Mutual Wealth Management, Hawkish, San Francisco Fed, Stanford University, Wednesday, • Cleveland Fed, Atlanta Fed, CNBC, Traders, Organization of, Petroleum, West Texas, Brent, Bank of America, Trump Media, Trump Media & Technology Group, DWAC, Southern, of, Acquisition Corporation, “, Microsoft, US, Department of Homeland Security, CNN Locations: New York, OPEC, Florida, of New York, Washington, China

☆ The battle over Disney’s future is about to be decided in a high stakes board vote
▼ + stars: | 2024-04-02 | by ( Hadas Gold | Samantha Delouya | ) edition.cnn.com time to read: +8 min

Two competing slates of board seats are now up for a vote against Disney’s. Peltz has criticized Disney’s recent theatrical flops and said the company should reach “Netflix-like margins” with its Disney+ streaming service, among other issues. If Peltz is successful, he and Rasulo could gain up to two seats on the board, displacing Disney’s picks. More than 35% of Disney’s shares are held by these individuals, who could seriously sway the vote. The influential advisory firms Institutional Shareholder Service and Egan-Jones have also thrown their support behind Peltz for at least one seat on the board.

Persons: Nelson Peltz, Jay Rasulo, Peltz, Ike Perlmutter, Bob Iger, ” Barton Crockett, Disney, ” Trian, Rasulo, Iger, Bob Chapek, Peltz —, —, It’s, ” Peltz, Perlmutter, ”, “ They’ve, ’ ” Crockett, Anna, Elsa, Ludwig Von Drake, “ Disney, George Lucas, Jamie Dimon, Michael Eisner, Laurene Powell Jobs, Abigail E, they’ve, ” Jessica Reif Ehrlich, “ Nelson Peltz, Neuberger Berman, Egan, Jones, ” Crocket, CNN’s Liam Reilly, Krystal Hur Organizations: CNN, Disney, Magic Kingdom, Disney’s, Trian Fund Management, Blackwells, Marvel, Netflix, Rosenblatt Securities, ESPN, ABC, Google, JPMorgan Chase, BofA Securities, California, Service Locations: Trian

☆ Inside Biden’s 2024 campaign media strategy that bypasses the Beltway press
▼ + stars: | 2024-04-02 | by ( Oliver Darcy | ) edition.cnn.com time to read: +5 min

In fact, Biden has engaged in a number of interviews this year, particularly with the Black and Hispanic press. “People in D.C. and New York may not always see it,” Michael Tyler, the Biden campaign communications director, told me by phone. The campaign argues that it adds up to media playbook that is inclusive of new media entities and other platforms with broad reach. “Number of times Jason Bateman has done a sit-down interview with President Biden: 2. Some of Biden’s hesitation to speak with the traditional news media likely stems from his frustration with how members of the press have covered him and his campaign.

Persons: Joe Biden, Bill Clinton, Barack Obama, “, ”, Jason Bateman, Sean Hayes, Will Arnett, —, Biden, Univision’s Enrique Acevedo, Adrian Carrasquillo, ” Michael Tyler, ” Tyler, Tyler, ” Jennifer Haberkorn, Robert Hur’s, Donald Trump, Obama, Zach Galifianakis, Trump Organizations: New York CNN, New York City, Hollywood, Black, Black Americans, D.C, Biden, Star, POLITICO, Biden White House Locations: New York, “

☆ Dow falls more than 440 points to continue second quarter’s weak start
▼ + stars: | 2024-04-02 | by ( Krystal Hur | ) edition.cnn.com time to read: +1 min

The Dow Jones Industrial Average dropped 418 points, or 1.1%, on Tuesday after declining more than 500 points at its lows. That means the blue-chip index has sunk roughly 800 points during the first two days of the second quarter. On Tuesday morning, the S&P 500 fell 1.1% and the Nasdaq Composite lost 1.5%. The Personal Consumption Expenditures price index, the Fed’s preferred inflation gauge, rose 2.5% for the 12 months that ended in February, a faster clip than January’s price increase. Traders pulled back their expectations for a rate cut in June to about 62% from more than 70% a week earlier, according to the CME FedWatch Tool.

Persons: New York CNN — Stocks, Jerome Powell, ” Organizations: New, New York CNN, Federal, Dow Jones, Nasdaq, San Francisco Fed, Traders Locations: New York

☆ The S&P 500 just turned in its best first quarter since 2019
▼ + stars: | 2024-03-28 | by ( Krystal Hur | ) edition.cnn.com time to read: +7 min

The S&P 500 index rose 10.2% during the first three months of the year, its best first-quarter performance since 2019. The S&P 500 on Thursday logged its 22nd record-high close of the year. Companies in the S&P 500 saw earnings grow 4.3% during the fourth quarter of 2023 from the prior year, according to FactSet data. Analysts polled by FactSet expect S&P 500 earnings to grow by more than 10% for all of 2024. About 140,000 cars a day traversed the I-35W bridge that once stood more than 100 feet above the Mighty Mississippi.

Persons: Bell, Bitcoin, What’s, Leslie Thompson, Warren Buffett’s, Zachary Hill, ”, Elisabeth Buchwald, Samantha Delouya, Ron DeSantis, DeSantis, Disney’s, Bob Chapek, “ Don’t, ” Chapek, ” DeSantis, “ I’m, Read, Francis Scott Key, Alicia Wallace, ” Christopher Phelan, ” Read Organizations: CNN Business, Bell, New, New York CNN, Traders, Dow Jones Industrial, Nasdaq, Investment Research, Dow, Apple, Nvidia, Meta, Microsoft, Spectrum Wealth Management, Companies, FactSet, Research, Horizon Investments, Disney, Central, Republican Gov, Central Florida Tourism, Twin, University of Minnesota, CNN Locations: New York, China, Florida, Central Florida, Central Florida Tourism District, Orlando, Baltimore, Minneapolis, Mississippi, Twin Cities, Mighty Mississippi, Minnesota

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