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☆ Does off-season travel exist anymore?
▼ + stars: | 2024-06-20 | by ( Lilit Marcus | ) edition.cnn.com time to read: +8 min

Then, you can plot a graph to see which months are higher and lower than that total to determine when the peak season is. “In Thailand, low season typically spans from April to September with April and May being really hot,” says Ponti. “During this low season the tourist volumes each month constitute more than 7% of the annual total. Angelos Tzortzinis/dpa/picture alliance/Getty ImagesArguably the biggest single factor affecting what we know as “peak season” travel is weather. “For me, the challenge is about finding the joy in those low seasons, finding those nuggets of gold.”

Persons: ”, Olivier Ponti, Ponti, Angelos Tzortzinis, Ged Brown, Mikey Sadowski, there’s, we’re, Sadowski, David Silverman, it’s, ForwardKeys ’ Ponti, Ann Woodward, “, Woodward, –, I’ve, ’, Brown, haven’t, ” Brown Organizations: CNN, United Nations, European Travel Commission, Intrepid, Travelers Locations: Italy, Hong Kong, Amsterdam, Japan, Canary, Spain, Thailand, Hawaii, Maldives, “, ”, Athens, Greece, Europe, Denmark, Sweden, Nepal, Mexico, New York

☆ New Home Construction Slows as Mortgage Rates Remain High
▼ + stars: | 2024-06-20 | by ( Danielle Kaye | ) www.nytimes.com time to read: +1 min

Construction of new homes in the United States dropped below expectations in May as builders pull back on new residential projects largely in response to high interest rates, reinforcing concerns about stubbornly high housing prices. Government data released on Thursday showed that new-home construction, or housing starts, fell 5.5 percent last month to an annualized rate of 1.28 million, a sign of more cracks in the already shaky housing market. Slower construction of both single-family and multifamily homes contributed to the overall drop. Building permits dipped 3.8 percent, pointing to less future construction. The magnitude of the decrease in construction last month underscores that high interest rates are both weakening housing demand and raising costs for builders — two dynamics that are ultimately contributing to builders’ reluctance to start projects.

Persons: Freddie Mac, Daniel Vielhaber Organizations: Nationwide Locations: United States

☆ Be careful what you wish for: The S&P 500 typically falls after the first rate cut
▼ + stars: | 2024-06-20 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

On average, the S & P 500 is usually up 2% 65 days before the first cut from the central bank following a hiking cycle, according to data from Strategas. But it's usually down by 1.5% 65 days after that initial rate reduction, implying that stocks may not be off to the races after the big announcement. In 1974, for example, the S & P 500 was down more than 8% in the 65 days prior and off by more than 25% in the same period following the cut. But in 1989, the broad index was up more than 12% in the 65 days preceding the rate reduction and still higher by more than 9% in the period after. Fed funds futures indicate a chance of at least one rate cut as early as September, with the potential for a second at the last meeting of the year in December, according to CMEGroup's FedWatch tool .

Persons: Ryan Grabinski, Chris Zaccarelli, Grabinski Organizations: Federal Reserve, Fed, Independent

☆ Willie Mays: My father taught me everything I needed to know about the most complete ballplayer ever
▼ + stars: | 2024-06-20 | by ( Harry Enten | ) edition.cnn.com time to read: +7 min

CNN —When people ask me how good of a player Willie Mays was, I give them a perhaps odd answer. You see, my Father watched Mays play when he came up as a rookie for the New York Giants in 1951. That short splice of film is our version of getting to see Mays play. Mays is a big reason why my Father was one of the few people who wore a New York Giants baseball cap throughout his later years. It’s a connection I try to carry on to this day whether it’s by wearing a New York Giants baseball hat on television or by answering “the New York Giants” when asked what baseball team I root for.

Persons: Willie Mays, Mays, –, ”, Harry Enten, CNN Mays, ” –, Vic Wertz, Harry Hall, Neil Paine, Long, New York – Organizations: CNN, San Francisco Giants, New York Mets, Mets, of Fame, New York Giants, Giants, NL, Brooklyn Dodgers, National League, Cleveland Indians, AP, Chicago Cubs, Baseball, Major League, Negro League, MLB, Negro Leagues, Birmingham Black Barons Locations: Cleveland, New York, West Coast, Chicago, Mays, Mississippi, Bronx

☆ An options bet that wins if this payments stock has finally bottomed
▼ + stars: | 2024-06-20 | by ( Tony Zhang | ) www.cnbc.com time to read: +2 min

After peaking back in July of 2021, the stock has declined nearly 80% and has spent the last 12 months forming a bottoming formation and has stabilized its decline. The question is, when is the stock potentially ready to breakout higher? Now if we examine the fundamentals, the business has started to look more compelling over the past couple of quarters. The trade Based on the implied volatility, options are not particularly cheap or expensive, but the skew benefits selling a put credit spread. BEFORE MAKING ANY FINANCIAL DECISIONS, YOU SHOULD STRONGLY CONSIDER SEEKING ADVICE FROM YOUR OWN FINANCIAL OR INVESTMENT ADVISOR.

Persons: PYPL Organizations: PayPal Locations: PYPL

☆ Biden’s Lead With Women Is Smaller Than Trump’s With Men, a Warning for Democrats
▼ + stars: | 2024-06-20 | by ( Ruth Igielnik | ) www.nytimes.com time to read: 1 min

Almost every path to victory for President Biden relies on strong support from women. But his current standing among women is the weakest lead a Democrat has had since 2004, a key factor in how tight the race is. That’s down from a lead among women of about 13 percentage points four years ago. And since the 2020 election, former President Donald J. Trump’s support among men has recovered and is back to the double-digit lead he had in 2016. But every year that Democrats have won the presidency, they have led among women by more.

Persons: Biden, Biden’s, Donald J Organizations: Democrat, The New York Times, Republicans

☆ Mortgage rates fall to their lowest level in almost three months
▼ + stars: | 2024-06-20 | by ( Bryan Mena | ) edition.cnn.com time to read: +4 min

Washington CNN —Mortgage rates fell this week to their lowest level since early April, taking some pressure off America’s unaffordable housing market. “These lower mortgage rates coupled with the gradually improving housing supply bodes well for the housing market.”Still, mortgage rates remain higher than anything seen in the decade before 2022, the year the Federal Reserve began to raise interest rates to combat inflation. Economists don’t expect the average mortgage rate to fall below 6% this year. Homebuilding constrained by high interest ratesWhile mortgage rates have eased recently, the US housing market overall remains hamstrung by elevated interest rates, which seem to be taking a toll on homebuilding. “Persistently high mortgage rates are keeping many prospective buyers on the sidelines,” NAHB Chairman Carl Harris said in a release.

Persons: Freddie Mac, ”, Sam Khater, Freddie Mac’s, don’t, America’s homebuilders, “, Carl Harris, ” Skylar Olsen Organizations: Washington CNN —, “, Federal Reserve, Treasury, National Association of Home Builders Locations: ., Wells Fargo, America, San Diego , Los Angeles and New York, California, Honolulu

☆ Switzerland makes second interest rate cut as major economies diverge on monetary policy easing
▼ + stars: | 2024-06-20 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +3 min

A view of the headquarters of the Swiss National Bank (SNB), before a press conference in Zurich, Switzerland, March 21, 2024. The Swiss National Bank on Thursday trimmed its key interest rate by 25 basis points to 1.25%, continuing cuts at a time when sentiment over monetary policy easing remains mixed among major economies. The figures assumes a SNB interest rate of 1.25% over the prediction period. Switzerland already has the second-lowest interest rate of the Group of Ten democracies by a wide margin, following Japan. It became the first major economy to cut interest rates back in late March and was earlier this month followed by the European Central Bank, and questions are now mounting over whether it will proceed with a third rate cut this year.

Persons: Kyle Chapman Organizations: Swiss National Bank, Reuters, Swiss, U.S ., Nomura, European Central Bank, Ballinger Group, U.S . Federal Reserve, Bank of England Locations: Zurich, Switzerland, Swiss, London, Japan

☆ Trump Media shares sink 12% as DJT slide accelerates
▼ + stars: | 2024-06-20 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +2 min

A sell-off of Trump Media picked up speed Thursday, with shares of former President Donald Trump's company falling as much as 15% shortly after the opening bell. The company behind the conservative social media app Truth Social, which trades on the Nasdaq as DJT, was hovering around $27 per share at the market's open. That price is more than 40% lower than it stood at the start of June, when Trump Media stock cost just over $49 a share. The slide represents a massive on-paper loss for Trump, the majority owner of Trump Media. After the bell, Trump Media revealed that the SEC had declared its registration statement effective.

Persons: Donald Trump, Donald Trump's Organizations: Trump Media, Nasdaq, Trump, New, Securities, Exchange, SEC Locations: Washington ,, New York

☆ French Election Becomes ‘Nightmare’ for Nation’s Jews
▼ + stars: | 2024-06-20 | by ( Roger Cohen | ) www.nytimes.com time to read: +1 min

The alleged rape last weekend of a 12-year-old Jewish girl by boys who hurled antisemitic abuse at her has ignited simmering tensions in France over attitudes toward the largest Jewish community in Western Europe. President Emmanuel Macron, a centrist whose decision to call snap elections this month shocked even his closest allies, responded by denouncing the “scourge of antisemitism” in French schools. In the most recent one that shocked the country, the three boys are said to have dragged the girl into an abandoned building where she was repeatedly raped and insulted. The three boys, ages 12 and 13, one of them previously known to the girl, are being investigated for rape, death threats and insults “aggravated by their link to the victim’s religion,” a prosecutor’s statement on Wednesday said. Two of them have been placed in pretrial detention, it added.

Persons: Emmanuel Macron, Gabriel Attal, Jean, Luc Mélenchon, “ Locations: France, Western Europe

Friedrich Zoneaire Portable Air Conditioner (ZCP12DB) The dual-hose Friedrich Zoneaire Portable Air Conditioner did the best job cooling and was the quietest portable air conditioner we tested. Our review of the Friedrich portable air conditionerThe Friedrich Zoneaire has intuitive onboard controls, and pairs to an app for remote access. However, even the best portable air conditioner doesn't compare to your typical window air conditioner when it comes to energy efficiency. The top pick in our best portable air conditioner guide is the LG Dual Inverter Smart WiFi Portable Air Conditioner (LP1419IVSM). If a window air conditioner sounds appealing, get buying advice from our best air conditioner guide.

Persons: Friedrich, Friedrich Zoneaire, James Brains, cranking, I'd, Friedrich Zoneaire —, Friedrich AC doesn't, Friedrich Chill Premier Organizations: Business, Madison, ARC, Friedrich, isn't Energy, Amazon Alexa, LG, Friedrich Chill, Friedrich Chill Premier Air

☆ McDonald’s releases a new $5 value meal to combat inflation
▼ + stars: | 2024-06-20 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —McDonald’s has revealed the details of its highly anticipated $5 value meal, which the fast food chain hopes will rev up sluggish sales and lure back customers who have cut back. Beginning June 25, McDonald’s US locations are selling a “$5 Meal Deal” for a limited time. Word of McDonald’s newest value meal was released last month in the Wall Street Journal, prompting fast food rivals to get a jumpstart on offering similar deals and attract cost-conscious eaters. Burger King, Wendy’s and even Starbucks have rolled out meal deals in recent weeks. The arrival of the McDonald’s meal deal comes at a time when the company is battling the perception that it has become too expensive.

Persons: New York CNN — McDonald’s, ”, Joe Erlinger, Burger, Erlinger, McDonald’s, “, they’re, John Palmaccio Organizations: New, New York CNN, McDonald’s, Street, Mac, ”, Advertising Fund Locations: New York, Memphis, Columbus , Ohio

☆ Dilemma on Wall Street: Short-Term Gain or Climate Benefit?
▼ + stars: | 2024-06-20 | by ( Lydia Depillis | ) www.nytimes.com time to read: +1 min

A team of economists recently analyzed 20 years of peer-reviewed research on the social cost of carbon, an estimate of the damage from climate change. They concluded that the average cost, adjusted for improved methods, is substantially higher than even the U.S. government’s most up-to-date figure. That means greenhouse gas emissions, over time, will take a larger toll than regulators are accounting for. In fact, the news from Wall Street lately has mostly been about retreat from climate goals, rather than recommitment. Banks and asset managers are withdrawing from international climate alliances and chafing at their rules.

Locations: Banks

☆ Election Updates: Robert F. Kennedy Jr. fails to qualify for CNN debate with Trump and Biden.
▼ + stars: | 2024-06-20 | by ( Chris Cameron | Simon Levien | ) www.nytimes.com time to read: +6 min

He is winning among Black women in the KFF survey by 58 percentage points, but that represents a significant drop from his 86 percentage point margin among Black women in the approach to the 2020 election, according to an average of New York Times/Siena College polls from that election. Mr. Biden’s lead with Hispanic women has also shrunk substantially, to about 12 points. The survey found Mr. Biden’s lead among women overall to be four points. They approve of how Mr. Biden is handling abortion and would like to see him re-elected. In Michigan, nearly 60 percent of Black women say inflation is the most important issue to their vote.

Persons: Biden, Biden’s, Donald J, Trump, “, ”, can’t, Roe, Wade, Ashley Kirzinger, “ It’s, Ms, Kirzinger, Kellyanne Conway, Trump’s, ” “ Joe Biden, Joe Biden, ” Ms, Conway, Ronald Reagan, George H.W, Bush, John Kerry Organizations: Democrat, The New York Times, Republicans, Democratic, Black, New York Times, Republican, Mr, “ Locations: Arizona, Michigan, KFF, Siena

☆ Irish millennials and Gen Zers are being hit hard by the housing crisis. Many more are moving back in with their parents.
▼ + stars: | 2024-06-20 | by ( Eliza Relman | ) www.businessinsider.com time to read: +1 min

download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementHousing has become so unaffordable in Ireland that younger people are increasingly moving back in with their parents — or never leaving their childhood homes, to begin with. According to the 2022 Irish census, 41% of people between 18 and 34 years old lived with their parents — a nearly 10% increase from about a decade ago. Among 30-year-olds, 20% were living with their parents in 2022 — a jump from the 13% who were in 2011. This story is available exclusively to Business Insider subscribers.

Persons: — Organizations: Service, Business Locations: Ireland

☆ Looking beyond the AI hype? Nvidia bull loves this 'under-the-radar' tech stock
▼ + stars: | 2024-06-20 | by ( Isabella Lok | In Isabellalokys | ) www.cnbc.com time to read: +3 min

Artificial intelligence has been the subject of many recent conversations about investing in tech, with Nvidia, Alphabet and Microsoft grabbing headlines. Masters named telecommunications company Motorola Solutions , a company he says is "a very beautiful, solid, public safety-focused business." The rest of the businesses includes its video security and building command center units. He added that the company's video security and command center businesses are also gaining more traction in the market. Put that all together and you have a "very, very strong, high quality compounding business," Masters said.

Persons: Masters, CNBC's, Motorola's, You've Organizations: Nvidia, Microsoft, Trent Masters, Alphinity Investment Management, Masters, Motorola Solutions, MSI, Motorola, Land Mobile, CNBC, New York Stock Exchange

☆ These are Wall Street's favorite Nasdaq picks for the second half
▼ + stars: | 2024-06-20 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

Technology stocks have fueled market strength in 2024, and analysts are watching a group of Nasdaq 100 stocks with further upside potential ahead. Against this backdrop, CNBC Pro used its stock screener to search for Nasdaq 100 stocks that analysts expect to surge over the next 12 months. AMZN YTD mountain Amazon stock has added more than 20% in 2024. The company also beat Wall Street's revenue forecast in the first quarter and issued a higher-than-anticipated earnings outlook for the current quarter. Shares are about flat in 2024, but analysts see nearly 27% upside from current levels, per LSEG.

Persons: Alexa, Marvell, Goldman Sachs, Toshiya Hari Organizations: Nasdaq, Broadcom, Apple, Nvidia, Microsoft, CNBC Pro, CNBC, Analysts, Amazon, Marvell Technology, Wall, Marvell, PDD Holdings, Diamondback Energy

☆ Caitlin Clark and Angel Reese rematch poised to be most expensive WNBA game ever
▼ + stars: | 2024-06-20 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —This weekend’s rematch between basketball rivals Caitlin Clark and Angel Reese is breaking more records before it even begins. Ticket prices for Clark’s Indiana Fever and Reese’s Chicago Sky are the most expensive for a WNBA game ever, according to TickPick, with the average hovering at around $253 — 187% higher than the Sky’s average purchase price of $88. Currently, the cheapest seat just to see the game is around $250 with the most expensive ticket on sale going for more than $9,000. Last Sunday’s game between Fever and Sky was the most-watched WNBA game on any network in 23 years, according to CBS, averaging 2.25 million viewers and peaking at nearly 3 million. Clark is no stranger to boosting ratings: The NCAA women’s basketball tournament title game between the South Carolina Gamecocks and her Iowa Hawkeyes drew nearly 19 million viewers, shattering records to become the most-watched women’s college basketball game ever measured by Nielsen.

Persons: Caitlin Clark, Angel Reese, Clark, Reese Organizations: New, New York CNN, Indiana, Chicago Sky, WNBA, CBS, Fever, Sky, Chicago Bulls, CNN, NCAA, South Carolina Gamecocks, Iowa Hawkeyes, Nielsen Locations: New York

☆ Tropical Storm Alberto makes landfall in Mexico; Texas faces flooding and heavy rain
▼ + stars: | 2024-06-20 | by ( Chantal Da Silva | ) www.cnbc.com time to read: +3 min

Storm Alberto, the first named tropical storm of the hurricane season, was located approximately 305 miles south-southeast of Brownsville, Texas and formed earlier today in the Southwestern Gulf of Mexico. The first named storm of the hurricane season made landfall in Mexico on Thursday, bringing heavy rain and flooding to the country's Gulf Coast and Texas. Tropical Storm Alberto is moving inland over Mexico with maximum sustained winds of 45 mph, the National Hurricane Center said in an update at 7 a.m. local time. A Tropical Storm Warning that was in effect for the Texas coast from San Luis Pass southward to the mouth of the Rio Grande was lifted early Thursday. Alberto's center was forecast to move west into Mexico before weakening and most likely dissipating by Thursday night, the National Hurricane Center said.

Persons: Storm Alberto, Alberto, Greg Abbott Organizations: Storm, Tropical, National Hurricane Center, Gov, Texans, Texas, M Forest Service, Texas National Guard, Chinook, National Weather Service, Atmospheric Administration Locations: floodwater, Surfside Beach , Texas, Brownsville , Texas, Southwestern Gulf of Mexico, Mexico, Coast and Texas, Texas, San Luis, Rio Grande, Rio, Tecolutla, Surfside Beach, Brazoria County, Coahuila, Nuevo León, Tamaulipas, Nuevo, Monterrey, Allende

☆ After almost 30 years, Amazon's original book business is booming, leaked document shows
▼ + stars: | 2024-06-20 | by ( Eugene Kim | ) www.businessinsider.com time to read: +9 min

This is according to a detailed internal document obtained by Business Insider that reveals a host of new information and insights about Amazon's book business and the broader publishing landscape. Reliable data on this industry is limited or tightly controlled, so it's sometimes difficult to get handle on the scope of the book business. "Monopoly power"Amazon's book business has drawn antitrust scrutiny over the years. The company doesn't publicly disclose book sales, nor does it give a revenue breakdown of each retail category. The US accounts for over half of the salesThe document reveals a few staggering numbers that show how big Amazon's book business is.

Persons: —, John Warren, George Washington University's, doesn't, Lindsay Hamilton, Noble, Warren, Hamilton Organizations: Service, Business, Amazon, Federal, American Booksellers Association, FTC, Justice Department, BI, GMS, Barnes, Costco, Pew Research Center, George Washington University Locations: Germany, Japan, France, Italy, Spain, Australia

Stifel raised its price target on Nvidia to $165, implying more than 20% upside. Analyst Andrew Boone also set a price target of $38, corresponding to a nearly 22% increase from Tuesday's close. — Lisa Kailai Han 6:06 a.m.: Stifel raises its price target for shares of Nvidia Stifel raised its price target for Nvidia in a recent note. Roy added that his new price target was also based on his new earnings estimate for the fiscal year 2027. — Lisa Kailai Han 6:06 a.m.: KeyBanc raises Meta Platforms price target Strong ad momentum will drive more gains for Meta Platforms shares, according to KeyBanc.

Persons: Stifel, Piper Sandler, Kumar, Harsh, — Lisa Kailai Han, Andrew Boone, Life360, Boone, Nvidia Stifel, Ruben Roy's, Roy, Lisa Kailai Han, Justin Patterson, Patterson, Meta, Fred Imbert Organizations: CNBC, Nvidia, Devices, AMD, Life360, Automotive, Meta Locations: Tuesday's, Meta

☆ Climate activists covered private jets in orange paint in a Taylor Swift-inspired stunt, but didn't get her plane
▼ + stars: | 2024-06-20 | by ( Mikhaila Friel | ) www.businessinsider.com time to read: +4 min

Read previewTwo climate activists from the Just Stop Oil group were arrested after covering private jets in orange paint in a Taylor Swift-inspired stunt. One of the protesters is pictured after painting a private jet bright orange. AdvertisementA representative for Just Stop Oil confirmed to BI that the planes doused in paint did not belong to Swift. AdvertisementHowever, according to a study by My Climate Tracker, cited by The Tab, Travis Scott was the celebrity with the most private jet use in 2023. Meanwhile, Swift wasn't among the top 30 celebrities with the most private jet use in 2023, the outlet said.

Persons: —, Taylor Swift, 🚨 Organizations: Service, —, Business, UST Locations: Lo

☆ Stock market today: Record-setting rally stalls as Nvidia slides and economic data softens
▼ + stars: | 2024-06-20 | by ( Max Adams | Matthew Fox | ) www.businessinsider.com time to read: +2 min

US stocks closed mostly lower Thursday, ending a long streak of gains for the S&P 500 and the Nasdaq. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Nvidia dragged the market lower as the tech giant dropped 3% after rising as much in early morning trading. The S&P 500 climbed above 5,500 for the first time ever on Thursday before dipping back below that level. Advertisement"At the same time, labor market indicators like initial and continued jobless claims are weakening.

Persons: —, Bill Adams Organizations: Nasdaq, Nvidia, Traders, Service, Dow Jones, Comerica Bank

☆ Stock futures are little changed after S&P 500 briefly tops 5,500: Live updates
▼ + stars: | 2024-06-20 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

U.S. stock futures hovered near the flatline Thursday night after the S&P 500 briefly climbed above 5,500 for the first time. Futures tied to the Dow Jones Industrial Average inched lower by 3 points, or 0.01%.S&P 500 futures were unchanged, and Nasdaq 100 futures advanced 0.07%. In Thursday's regular session, the S&P 500 closed 0.25% lower. At its highs of the day, the broad market index was up by as much as 0.34%, reaching 5,505.53. The S&P 500 is tracking for a roughly 0.8% advance, while the Nasdaq is up 0.2%.

Persons: Dow, Jamie Cox Organizations: Dow Jones, Nasdaq, Nvidia, Microsoft, Harris Financial

☆ These 4 US regions will see electricity bills increase the most this summer
▼ + stars: | 2024-06-20 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

The average monthly US electricity bill this summer will be 3% higher than last year, the EIA says. AdvertisementThe possibility of a warmer-than-typical summer will make energy prices higher, the US Energy Information Administration said in a new report. The EIA finds that the average US electricity bill from June through August will be $173, a 3% climb over last year. The biggest dollar-amount increase will be seen in Mid-Atlantic states, where the average bill will rise by $14, the EIA said. In September, a Texas heat wave sent spot electricity prices up 20,000% and caused the state's grid operator to issue an emergency.

Persons: —, it's Organizations: EIA, Service, US Energy Information Administration, East South Central, East, Energy Information Administration, Utilities, West South Central, West Locations: New England, Pacific, East, East North Central, America, West South Central, Texas

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