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☆ Bank of America says do not sell in May and go away
▼ + stars: | 2024-05-08 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Investors should ignore the adage about selling off equities in May as a big preelection summer rally could be coming, according to Bank of America. "Do not sell in May and go away," Stephen Suttmeier, the firm's technical research strategist, told clients in a Tuesday note. He pointed to the fact that June through August has been the second strongest three-month stretch for the S & P 500 for all years since 1928. In those three months alone, the broad market index has gained 65% of the time with an average return of 3.2%, according to Bank of America data. .SPX YTD mountain S & P 500, YTD And there's a key factor Suttmeier sees changing the narrative for the better this year: the presidential election.

Persons: Stephen Suttmeier, It's, Jerome Powell, Suttmeier, Williams Organizations: Bank of America, Dow Jones, Federal

☆ Take a ride inside Ehang's fully autonomous, two-seater air taxi
▼ + stars: | 2024-04-18 | by ( Arjun Kharpal | Cristy Garratt | ) www.cnbc.com time to read: +1 min

About an hour's drive from the company's headquarters in Guangzhou, China, sits a test site for Ehang's autonomous aerial vehicles. Perched on the tarmac during CNBC's visit was the company's fully autonomous, two-seater air taxi. Its scheduling system runs on the server, so its route is automatically loaded, and then it carries out a completely automated route flight." Because of this other aircraft, we also need to build a vertical take-off and landing flight site between cities," Wang said. Take a tour of the EH216 and watch its test flight by clicking the video above.

Persons: Dong Wang, Ehang, AAV, Wang Organizations: CNBC Tech, Civil Aviation Administration, Federal Aviation Administration Locations: Guangzhou, China, United States

☆ Foxes were once humans’ best friends, study says
▼ + stars: | 2024-04-11 | by ( Mindy Weisberger | ) edition.cnn.com time to read: +7 min

Archaeologists originally uncovered the near-complete D. avus skeleton buried alongside a human at Cañada Seca, a site in northern Patagonia, in 1991. Parts of the D. avus specimen were buried alongside a human at Cañada Seca, a site in northern Patagonia. D. avus lived from the Pleistocene Epoch (around 2.6 million to 11,700 years ago) into the Holocene, becoming extinct about 500 years ago. With a similar diet to D. avus, dogs may have helped speed the foxes’ extinction by outcompeting them. Dogs could also have carried and transmitted diseases that sickened the foxes, Lebrasseur added.

Persons: wasn’t, Ophélie, avus, Francisco Prevosti “, Dusicyon avus, ”, Lebrasseur, Cinthia, ” Lebrasseur, Dr, Aurora, d’Anglade, ‘, Francisco Prevosti, it’s, ” Mindy Weisberger Organizations: CNN, Wellcome Trust, Archaeology Research, University of Oxford’s School of Archaeology, Royal Society Open Science, Argentina’s, Technical Research, Universidade, Oxford, Scientific Locations: what’s, Argentina, South America, Cañada Seca, Patagonia, United Kingdom, Europe, Asia, Spain, Patagonia . Hunter

☆ US, Britain announce partnership on AI safety, testing
▼ + stars: | 2024-04-02 | by ( ) www.cnbc.com time to read: +3 min

Artificial Intelligence (AI) Safety Summit at Bletchley Park, in central England, on Nov. 2, 2023. - The United States and Britain on Monday announced a new partnership on the science of artificial intelligence safety, amid growing concerns about upcoming next-generation versions. Britain and the United States are among countries establishing government-led AI safety institutes. Both are working to develop similar partnerships with other countries to promote AI safety. Both countries plan to share key information on capabilities and risks associated with AI models and systems and technical research on AI safety and security.

Persons: Rishi Sunak, Kamala Harris, Gina Raimondo, Michelle Donelan, Raimondo, Donelan, Biden Organizations: British, Artificial Intelligence, Monday, British Technology, Safety, Reuters, EU Trade, Technology Council, ., Commerce Department Locations: Bletchley, England, United States, Britain, Washington, Bletchley Park, U.S, Belgium

☆ These 8,200-year-old cave paintings are the earliest ever found in South America
▼ + stars: | 2024-03-08 | by ( Story Reuters | ) edition.cnn.com time to read: +2 min

Neuquen, Argentina Reuters —Archaeologists have discovered the earliest dated cave paintings in South America in Argentine Patagonia, dating back 8,200 years. These proved to be the earliest direct dating of cave paintings in South America,” said Dr. Guadalupe Romero Villanueva, author of the research published in the Science Advances journal. The Argentinean archaeologist said the discovery indicates that the production of cave art began in the Huenul cave about 8,000 years ago and that the practice of painting the particular pattern seen in the cave was sustained for a period of at least 3,000 years. A general view of the Huenul 1 cave where scientists discovered the oldest dated cave art in South America, with nearly 8,200 years old, in Neuquen, Argentina March 3, 2024. Villanueva said there are other places in South America that could have older cave paintings, but which only have relative dating, like Argentina’s Cueva de las Manos, with cave paintings dating back 9,500 years.

Persons: “, ”, Guadalupe Romero Villanueva, Miguel Lo Bianco Miguel Lo Bianco, Romero Villanueva, Villanueva, Cueva, las Organizations: Argentina Reuters —, Argentine, REUTERS, National Council for Scientific, Research, las Manos Locations: Neuquen, Argentina, South America, Argentine Patagonia, Chilean, Buenos Aires, Patagonia

☆ The S&P 500 could rise as high as 5600, and these 8 ETFs are poised for big upside along the way: Bank of America
▼ + stars: | 2024-02-18 | by ( Mark Reeth | ) www.businessinsider.com time to read: +1 min

The S&P 500 has fallen below 5000, but that's to be expected if history is any indication. Bank of America's Steven Suttmeier says the index is on its way to new highs of up to 5600. Along the way, his charts say 8 ETFs are preparing for bullish moves upward as well. The S&P 500 recently became the S&P 5000, hitting a new all-time high only a few short weeks into the new year as the market's rally continued. The latest consumer-price inflation data put a damper on things, however, and the index returned below record levels.

Persons: of America's Steven Suttmeier, SPX, Steven Suttmeier Organizations: of America's, Bank of America, Business

☆ Ford says it has a ‘Skunk Works’ team trying to make lower-cost EVs
▼ + stars: | 2024-02-09 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +5 min

CNN —Ford says it has a top-secret, high-powered team working to design its future electric vehicles. Electric vehicle sales increased by 40% in the fourth quarter of 2023 compared to the same period in 2022, according to Cox Automotive. In a study released late last year by S&P Global Mobility, almost half of people surveyed globally thought EV prices were too high. “We developed a super-talented ‘Skunk Works’ team to create a low-cost EV platform,” Farley said. By dubbing its own operation as a “Skunk Works” team, Ford is seeking to put the scale of the matter front-and-center.

Persons: CNN — Ford, ”, Yanina Mills, Ford, Jim Farley, ” Farley, Tesla Farley, Tesla, Farley, Alan Clarke, EVs Farley Organizations: CNN, Tesla, Audi, Mercedes, Ford, Cox Automotive, P Global Mobility, United Auto Workers, Skunk, Lockheed, Skunk Works, Reuters, Works, Hyundai, Ford Pro, EV, EVS Locations: China, Asia, Europe

☆ Opinion | Why MAGA Loves Russia and Hates Ukraine
▼ + stars: | 2024-02-08 | by ( David French | ) www.nytimes.com time to read: +1 min

As I type this newsletter, continued American aid for Ukraine is in grave doubt. And we’re receiving reports from the front lines that Russia is advancing, in part because of Ukrainian ammunition shortages. Ronald Reagan isn’t just rolling over in his grave; he may also lurch from it in a fit of incredulous rage. To explain the intensity of Republican resistance to Ukraine aid, I need to return to a concept I wrote about in November: that of bespoke realities. But the mass Republican movement against Ukraine is rooted far less in policy than it is in a particular bespoke reality of the MAGA universe, in which Ukraine is a pernicious villain, Putin is a flawed hero and Russia should have crushed Ukraine long ago.

Persons: Tucker Carlson, Vladimir Putin, Ronald Reagan isn’t, Renée DiResta, MAGA, Putin Organizations: Stanford Internet Observatory Locations: Ukraine, Moscow, Russia

☆ I'm an AI startup founder and love hiring liberal arts grads. They give us a surprising edge.
▼ + stars: | 2024-02-07 | by ( Megan Carnegie | ) www.businessinsider.com time to read: +6 min

Barthélémy Kiss, 36, is a politics graduate running his second AI company Powder. Kiss has hired career switchers and liberal arts grads to work on his most recent AI project. Working on this startup, I've learned that people with a liberal arts background have a major edge in our industry. The liberal arts grads we've hired have a creative, human-centric approach to understanding the best applications of AI in their respective fields. We need creative thinkers to get the best out of AI technologyHuman creativity is crucial in the AI space.

Persons: Barthélémy, Kiss, switchers, grads, —, Eric Risser, We've, I've, grads we've, Stan, Maryan, Pierre Boulez Organizations: Service, Unity, Creative, Ircam Locations: Paris

☆ Wall Street is on pace to finish January higher. Why that could be good news for the rest of the year
▼ + stars: | 2024-01-30 | by ( Hakyung Kim | ) www.cnbc.com time to read: +4 min

That's according to the "January barometer" from the "Stock Trader's Almanac," which argues that "as the S & P 500 goes in January, so goes the rest of the year." The S & P 500 has managed to trade above the 4,900 level already this month and is currently up 3.3% in the new year. That's enough to put the broad market index trading above Wall Street strategists' average 2024 target of 4,914, according to the CNBC PRO Market Strategist Survey. .SPX YTD mountain S & P 500 in 2024 Election Year Notably, 2024 is a U.S. presidential election year. By comparison, the S & P 500 typically gains 15% in those years with a higher January.

Persons: Stocks, Stephen Suttmeier, Suttmeier, Sam Stovall, Outperformers, Dow, Stovall, What's, — CNBC's Michael Bloom Organizations: Dow Jones Industrial, Nasdaq, Wall, CNBC, Market, Survey, Bank of America, Dow Jones Locations: U.S

☆ ByteDance has a new AI model that lets users instantly speak in another person's voice. Researchers admitted the AI can be used for 'fraud.'
▼ + stars: | 2024-01-27 | by ( Kali Hays | ) www.businessinsider.com time to read: +3 min

China's ByteDance has created a new way for people to immediately change their voice into another person's using generative artificial intelligence technology. People have already this year used AI to impersonate President Joe Biden as the 2024 election nears and pop star Taylor Swift . The output occurs at the speed of livestreaming, with just 124 milliseconds of latency, according to the paper, which noted that AI voice conversion technology thus far has mostly only been effective "offline." It also used open-source code from Meta's Audiodec , which Meta describes as a "plug-and-play benchmark for audio codec applications." They suggested people report illegal usage of voice conversion to the appropriate authorities.

Persons: China's ByteDance, Joe Biden, Taylor Swift, StreamVoice, Meta, Biden, Kali Hays Organizations: Business, Northwestern Polytechnical University, Northwestern University Locations: China, New Hampshire, khays@insider.com

☆ A look at the Santa Claus rally history and whether it can happen into year-end this time
▼ + stars: | 2023-12-19 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

It turns out that the Santa Claus rally on Wall Street extends beyond the official seven-session stretch from December into January for the S & P 500 , according to Bank of America. The official seven-session Santa Claus rally encompasses the final five trading sessions of December and the first two days of January. Historically during that period, the S & P 500 has gained 79% of the time with an average return of 1.66%, Bank of America found. .SPX YTD mountain The S & P 500 is less than 1% away from reaching a fresh all-time high close. This year, the S & P 500 rallied 3.3% over the first 10 sessions of December, which ran through the 14 th of the month, Suttmeier found.

Persons: Santa Claus, Stephen Suttmeier, Suttmeier, Russell, Michael Bloom Organizations: Bank of America, Dow Jones Industrial Locations: Santa

☆ The S&P 500 could have another 23% upside if this key level is breached, according to Bank of America
▼ + stars: | 2023-11-27 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

The stock market could have 23% upside if a key technical level is breached, according to Bank of America. BofA analyst Stephen Suttmeier said a decisive break above 4,600 for the S&P 500 would confirm a bullish chart pattern. AdvertisementA continuation of bullish technical trends in the stock market could catapult the S&P 500 higher by as much as 23% from current levels, according to Bank of America. The S&P 500 traded just above 4,550 on Monday. To fuel the potential stock market upside, Suttmeier said asset managers have plenty of buying power left.

Persons: Stephen Suttmeier, —, Suttmeier Organizations: Bank of America, Service, Bank of America . Bank, Nasdaq

☆ The stock market did something special Tuesday that typically means more gains ahead
▼ + stars: | 2023-11-15 | by ( Scott Schnipper | ) www.cnbc.com time to read: +1 min

"We view this bullish breadth day as a sign that the 4Q rally for U.S. equities from ... late October can continue," Suttmeier wrote. The S & P 500 median return the next day was a muted -0.05%. But 10 days later, the median return was 1.44%; 20 days later the index was usually ahead a median 2.24%; and after 30 days it was a median 3.28% higher. After 65 days, median returns were better still, with the benchmark index surging another 6.21% from that original "90% up" day. One time, the maximum return after 65 days was 30.51%, and the maximum loss 65 days after such a "90% up day" was 16%.

Persons: Stephen Suttmeier, BofA, Suttmeier Organizations: Bank of America, New York Stock Exchange

☆ A 'panic spike' is possible late October into November, says Bank of America's chart analyst
▼ + stars: | 2023-10-23 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

A panic spike could send stocks higher heading into November, according to Bank of America. Notably, the S & P 500 closed below its 200-day moving average, suggesting a break in the uptrend, and drew near a key psychological support level at 4,200. Bank of America's Stephen Suttmeier said the CBOE 3-Month Volatility Index (VIX3M) and the CBOE Volatility Index (VIX) could flash an oversold reading below 1.0 as the S & P 500 nears its support levels, a possible capitulation signal indicating it's time for investors to buy. Regardless, Bank of America broadly anticipates the S & P 500 will close the year out at 4,600, according to the CNBC Market Strategist Survey . "In our view, this tactical panic likely coincides with a break below the 200-day MA at 4233 (SPX closed below it on 10/20) and the "FOMO rally / soft-landing" breakout point near 4200 on the SPX," Suttmeier added.

Persons: Stocks, of America's Stephen Suttmeier, Suttmeier, — CNBC's Michael Bloom Organizations: Bank of America, of America's, U.S ., Treasury, CNBC Market, Survey

OVIEDO, Spain (AP) — American actor Meryl Streep on Friday received Spain’s prestigious Princess of Asturias Arts Award at a ceremony presided over by the Spanish royal family in the northern city of Oviedo. “Empathy may be a radical form of outreach and diplomacy useful in other theaters of endeavor” she said. Others honored at the ceremony were bestselling Japanese author Haruki Murakami, who won the literature prize and U.S. biologists Jeffrey Gordon, Peter Greenberg and Bonnie Bassler, who received the scientific and technical research prize. Sports award winner, Kenyan marathon legend Eliud Kipchoge, said in a speech that running for him was much more than a physical exercise. “We must make our world a running world, because a running world is a happy world.

Persons: Meryl Streep, Streep, “, Haruki Murakami, Jeffrey Gordon, Peter Greenberg, Bonnie Bassler, Gordon, Hélène Carrère d’Encausse, Nuccio Ordine, Eliud Kipchoge, ”, Joan Miró, Princess Leonor, _____ Ciarán Giles Organizations: Asturias Arts, Diseases, Sports, Kenyan Locations: OVIEDO, Spain, American, Oviedo, Scottish, Spanish Catalan, Madrid

☆ October is known for big drawdowns and charts suggest a 'capitulation event' is likely, says Bank of America
▼ + stars: | 2023-10-02 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

A capitulation event is likely in October before stocks can ride a year-end rally, according to Bank of America. Investors are coming off the worst month of the year for the S & P 500 and Nasdaq Composite . The Cboe 3-Month Volatility Index and Cboe Volatility Index are used in tandem to measure volatility in the S & P 500. The former gauges the S & P 500's implied volatility over three months, while the latter reflects the index's 30-day volatility. "The late 2023 setup resembles those from late 2012, late 2016 and late 2019," Suttmeier wrote.

Persons: Stephen Suttmeier, Suttmeier, Trump, Michael Bloom Organizations: Bank of America, Investors, Nasdaq, China Trade Locations: Brexit

☆ The stock market has entered its worst 10-day stretch of the year historically
▼ + stars: | 2023-09-19 | by ( John Melloy | ) www.cnbc.com time to read: +1 min

The stock market on Monday entered what historically is its worst seasonal stretch of days of the year, according to Bank of America. So far, the S & P 500 is true to form, down about 0.6% this week. There is also a slew of worker stoppages affecting the economy, along with higher oil prices and a looming government shutdown troubling investors. The S & P 500 was already in the red for the first part of September and Suttmeier noted that doesn't make this stretch a buying opportunity. For example, the market benchmark around 4,425 today is still well above its 200-week moving average of 3,914, so it's still in a "secularly bullish" trend, according to Suttmeier.

Persons: Stephen Suttmeier, Goldman Sachs, Suttmeier, — CNBC's Michael Bloom Organizations: Bank of America

☆ Japan's military is thinking about how to drop long-range cruise missiles from its biggest panes
▼ + stars: | 2023-08-08 | by ( David Cenciotti | The Aviationist | ) www.businessinsider.com time to read: +3 min

Japan is considering using its Kawasaki C-2 tactical transport aircraft to drop stand-off missiles. A Kawasaki C-2 flies around the Hawaiian Islands in September 2022. The Rapid Dragon allows the deployment of long-range cruise missiles using standard airdrop procedures from a cargo aircraft. After successful extraction, the AGM-158B JASSM-ER (Joint Air-to-Surface Standoff Missile-Extended Range) missiles extend their wings and turn on the engine. The Kawasaki C-2 is a long range twin-engine transport aircraft designed to replace the old C-1.

Persons: Makensie Cooper, JASDF Organizations: Kawasaki, Service, Japan's Defense, Japan Times, US, US Air Force, Japan's Defense Ministry, US Air Force Special Operations Command Locations: Japan, Wall, Silicon, United States

☆ A 'tactical correction' is already underway in the stock market, says Bank of America
▼ + stars: | 2023-08-08 | by ( John Melloy | ) www.cnbc.com time to read: +1 min

With stocks struggling again on Tuesday , Bank of America's chart analyst said a "tactical correction" is underway and may continue for a bit longer because of seasonal weakness historically in the upcoming period. "If the tactical resistances highlighted above contain interim rallies on the SPX, then a seasonal corrective phase should continue from the late July high." .SPX YTD mountain S & P 500 YTD With Tuesday's sell-off, the S & P 500 is off by about 3% from its 52-week high — falling as low as 4465 or so. The S & P 500 is typically flat in August and down 1.08% in September on average during the third year of the presidential cycle, Bank of America data showed. The report suggests investors may win by getting more defensive, rotating into utilities and staples for the time being.

Persons: Stephen Suttmeier, Suttmeier Organizations: Bank, Bank of America Securities, Bank of America

BENGALURU, July 26 (Reuters) - Indian shares advanced on Wednesday, boosted by gains in index heavyweights Reliance Industries, Larsen & Toubro (L&T) and Tata Motors, ahead of the U.S. Federal Reserve's monetary policy decision. Automaker Tata Motors (TAMO.NS) jumped as much as 4.06% to a record high after reporting a better-than-expected profit in the June quarter and a capital restructuring plan. Index heavyweight L&T (LART.NS) climbed 3.71% to a record high on strong first-quarter results and approval of a share buyback plan. L&T and Tata Motors were the top Nifty 50 gainers. In contrast to Indian equities, Asian peers were subdued ahead of the Fed policy decision, due at 11:30 p.m. IST.

Persons: Toubro, Anita Gandhi, Rahul Sharma, Bharath Rajeswaran, Dhanya Ann Thoppil, Eileen Soreng Organizations: Reliance Industries, Larsen, Tata Motors, U.S, U.S . Federal, BSE, Arihant, Thomson Locations: BENGALURU, U.S ., Qatar, Bengaluru

☆ Here's another reason that the market could post a huge rally in the second half
▼ + stars: | 2023-07-03 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

History has some more good news when it comes to what the stock market could have in the store for the second half of 2023. So, the market's robust first half, in which the S & P 500 posted a nearly 16% gain, presents a strong case for a good second half if history repeats itself. But this market has one more thing going for it: A good first half following a bad 2022. "2023 YTD has not lived up to investors' bearish expectations," Stephen Suttmeier, technical research strategist at Bank of America, said in a client note. .SPX YTD mountain SPX year to date To be sure, history offers no guarantees.

Persons: YTD, Stephen Suttmeier, Suttmeier, Savita Subramanian Organizations: Bank of America, Federal

☆ Samsung is exploring an 'offline' digital currency that works with Galaxy phones
▼ + stars: | 2023-05-16 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

A man walks past an ad for the Samsung Galaxy Z Flip4 smartphone at the company's Seocho building in Seoul on Jan. 31, 2023. Consumer tech giant Samsung is looking into launching a central bank digital currency in a collaboration with the Bank of Korea. The South Korean electronics firm said Monday that it had signed a memorandum of understanding with the country's central bank to conduct technical research on the digital currency. Samsung said such a CBDC, which refers to a digital currency issued by a central bank, would work "offline" and could be sent between owners of its Galaxy smartphone and smartwatches thanks to a secure chip in the devices. "We are very pleased to be the first central bank to develop offline CBDC technology in partnership with Samsung Electronics," Seungheon Lee, senior deputy governor at the Bank of Korea, said in a press release.

☆ 2 Bullish signals suggest the S&P 500 could surge 19% to record highs over the coming year, Bank of America says
▼ + stars: | 2023-05-10 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

There are two bullish signals that suggest the stock market could trade to record highs by early next year. BofA says a bullish breakout in global breadth means the S&P 500 could surge 19% from current levels. "Bullish technical backdrop signals support the case for a higher S&P 500 into year-end and early 2024," BofA said. "Bullish technical backdrop signals support the case for a higher S&P 500 into year-end and early 2024." This bullish indicator triggered a breakout in February, and that "does not rule out S&P 500 4,900 into February 2024," Suttmeier said.

☆ This concrete chemist-turned-CEO wants to decarbonize concrete. Check out the 17-slide pitch deck his startup Carbonaide used to raise new funds.
▼ + stars: | 2023-03-28 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +3 min

Concrete accounts for 8% of global CO2 emissions every year and Carbonaide wants to change that. The startup is headed up by a concrete chemist set on decarbonizing an industry he spent 20 years in. Tapio Vehmas' dad, uncle, and brother work in the concrete industry. So far Carbonaide has run a small pilot where it demonstrated a CO2 emissions reduction of 45% compared with traditional concrete, Vehmas said. We got an exclusive look at the pitch deck 17-slide pitch deck the startup used to secure the funds.

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