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☆ China's military isn't just putting on a show of force. It's rehearsing for the real deal, an assault on Taiwan.
▼ + stars: | 2024-05-24 | by ( Chris Panella | ) www.businessinsider.com time to read: +5 min

Read previewChina's large-scale military drills around Taiwan aren't just a show of force in response to the remarks of the democratic island's new president. China says the joint force live-fire exercise, lasting two days, is a test of its ability to launch a full-scale, lethal assault on Taiwan and ultimately force it to succumb to Beijing's rule. An outdoor screen shows a news coverage of China's military drills around Taiwan, in Beijing on May 23, 2024. AdvertisementA screen grab captured from a video shows the Taiwan army conduct military exercise following China's large-scale joint military drill around Taiwan on May 23, 2024. The use of force against Taiwan could take different forms, from an all-out assault to something like a blockade.

Persons: —, It's, Stephen McDonell, Z1FdXUvXmN, JADE GAO, Party's Lai Ching, Lai Organizations: Service, Taiwan aren't, Business, People's Liberation Army, BBC China, China Central Television, People’s Liberation Army, Eastern, Command, Getty, China's Air Force, Navy, Coast Guard, Democratic, Taiwan's Military News Agency, Anadolu, Getty Images Locations: Taiwan, China, Beijing, Taiwan's, Getty Images Beijing

☆ Ether slips after SEC opens the door to ether ETFs, still heads for best week in more than a year
▼ + stars: | 2024-05-24 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

It's holding on to its weekly gain of 20%, and is on pace for its best week in more than a year. Earlier this week surged more than 20% over two days, as expectations of an SEC approval of ether ETF applications changed abruptly. By contrast, in the weeks leading up to approvals for bitcoin ETFs, the SEC was reported to be engaging actively with fund issuers. Coinbase , which may be a beneficiary of ether ETFs, was more than 1% in premarket trading, while Robinhood nearly 1%. Cryptocurrency prices, including ether's, may also be tempered by the Thursday afternoon stock market sell-off.

Persons: Rachel Lin, Ether, Alex Saleh, Coinbase, bitcoin Organizations: Metrics, Securities and Exchange Commission, SEC

☆ The European housing crisis warping millennial life: The average Croatian lives with parents until 33
▼ + stars: | 2024-05-24 | by ( Joshua Zitser | ) www.businessinsider.com time to read: +9 min

According to Eurostat, the EU statistical office, the average Croatian leaves their parents' home at over 33 years of age, its highest figure. Joshua Zitser/Business InsiderIn the US, almost everyone has moved out by then. Joshua Zitser/Business InsiderWhile tourism brings economic opportunities for Vukovic and many others, he says it has also worsened the already dysfunctional housing market. But in parts of Dubrovnik, Vukovic explained, that's not feasible. Joshua Zitser/Business InsiderFor Josip Crncevic, 34, prices feel far out of reach.

Persons: —, Joshua Zitser, Malohodžić, Ivan Vukovic, Vukovic, Filip Brkan, that's, Josip Crncevic, Crncevic, homeownership, it's, he'd, Marija, Sanja, Angelo, Cikato, Diana Marlais, Bogdan Dascalescu, wouldn't Organizations: Service, Croatian, Business, Eurostat, BI, UNESCO, Heritage, King's, Real Estate Business Association of, Croatian Chamber Locations: Dubrovnik's, Croatia, Dubrovnik, Independence, HBO's, Dubrovnik's suburbs, Marija

☆ China's war drills around Taiwan enter Day 2. Here's what it means for cross-strait relations
▼ + stars: | 2024-05-24 | by ( Sumathi Bala | ) www.cnbc.com time to read: +5 min

Members of Taiwan's military conduct routine exercises at Liaoluo Port in Kinmen on May 24, 2024. (Photo by I-HWA CHENG/AFP via Getty Images) I-hwa Cheng | Afp | Getty ImagesChina's latest military exercises around Taiwan risk escalating cross-strait tensions — but war remains unlikely, political observers say. Beijing warned that the two-day drills, which continued on Friday, were aimed at punishing the island's new President Lai Ching-te for his "hostility and provocations." The drills are "legitimate, timely and entirely necessary," as acts of "Taiwan independence" in any form "cannot be tolerated," it added. "This pretext for conducting military exercises not only does not contribute to peace and stability across the Taiwan Strait, but also highlights its hegemonic nature," the ministry said.

Persons: HWA CHENG, Cheng, Lai Ching, Lai, Xi Jinping, China's, Lai —, Wang Yi, Nancy Pelosi's, Xi, Joe Biden, Gabriel Wildau Organizations: HWA, Getty, Afp, Xinhua, Atlantic, China's Ministry of National Defense, Liberation Army, PLA, Eastern, Command, U.S ., Fujian, Guard, U.S, APEC, Teneo Intelligence, Republicans Locations: Liaoluo, Kinmen, China, Taiwan, AFP, Beijing, Eurasia, Republic of China, People's Republic of China, United States, U.S

☆ Boeing, NASA say Starliner astronaut launch will move forward despite spacecraft helium leak
▼ + stars: | 2024-05-24 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +1 min

Boeing and NASA are moving forward with the launch of the company's Starliner capsule, set to carry U.S. astronauts for the first time, despite a "stable" leak in the spacecraft's propulsion system. "We are comfortable with the causes that we've identified for this specific leak," Boeing Vice President and manager of the company's Commercial Crew program, Mark Nappi, said during a press conference on Friday. "We know we can manage this [leak], so this is really not a safety of flight issue," Nappi added. Boeing is now targeting June 1 for the first crewed launch of its spacecraft, with backup opportunities on June 2, June 5 and June 6. To date, Boeing has eaten $1.5 billion in costs due to Starliner setbacks, in addition to nearly $5 billion of NASA development funds.

Persons: Mark Nappi, Nappi Organizations: National Aeronautics and Space Administration, NASA, United Launch Alliance, Boeing's, NASA's Boeing, Cape Canaveral Space Force, Boeing, International Space Locations: Florida

☆ See inside Callendar House, the 14th-century Scottish mansion where 'Outlander' was filmed
▼ + stars: | 2024-05-24 | by ( Mikhaila Friel | ) www.businessinsider.com time to read: +1 min

Callendar House in Falkirk, Scotland, was a filming location for 'Outlander' season two. The mansion dates back to the 14th century and was home to the powerful Livingston family. AdvertisementFans of "Outlander" can visit an ancient Scottish mansion where part of the series was filmed — and it won't cost a penny. Callendar House in Falkirk, Scotland, was used as a filming location in season two of the historical drama series. Dating back to the 14th century, Callendar House was once home to the Livingston family, one of the most powerful noble families in Scotland.

Persons: Livingston, —, Callendar Organizations: Service, Business Locations: Falkirk, Scotland, Callendar

☆ China starts military drills around Taiwan days after new president takes office
▼ + stars: | 2024-05-23 | by ( ) www.cnbc.com time to read: +1 min

Taiwan's new President Lai Ching-te speaks on stage during the inauguration ceremony outside the Presidential office building in Taipei, Taiwan, on May 20, 2024. China's military started two days of "punishment" drills around Taiwan on Thursday in what it said was a response to "separatist acts", just days after new Taiwan President Lai Ching-te took office and called on Beijing to cease its threats. China detests Lai, saying he is a "separatist", and it has denounced his inauguration speech on Monday. The Eastern Theatre Command of the Chinese People's Liberation Army (PLA) said it had started joint military drills, involving the army, navy, air force and rocket force, in areas around Taiwan at 7:45 a.m. (2345 GMT). The drills are being conducted in the Taiwan Strait, the north, south and east of Taiwan, as well as areas around the Taiwan-controlled islands of Kinmen, Matsu, Wuqiu and Dongyin, the command said in a statement.

Persons: Lai Ching, China detests Lai, Wang Yi, Lai Organizations: Eastern Theatre Command, People's Liberation Army, PLA Locations: Taipei, Taiwan, Beijing, China, Taiwan Strait, Kinmen

☆ China's military is surrounding Taiwan, sending its new president an unmistakable message
▼ + stars: | 2024-05-23 | by ( Ella Sherman | Chris Panella | ) www.businessinsider.com time to read: +6 min

Read previewThe Chinese armed forces began conducting large-scale military exercises around Taiwan on Thursday, just days after the island's newly elected president Lai Ching-te took office. Taiwan's defense ministry posted a video condemning Chinese actions, as well as showing the various locations around it where Chinese forces are operating. The CCP’s military exercises, which highlight its hegemony mindset, have undermined regional peace and stability. An outdoor screen shows a news coverage of China's military drills around Taiwan, in Beijing on May 23, 2024. Taiwanese soldiers stand guard as flares are fired during a Taiwanese military live-fire drill, after Beijing increased its military exercises near Taiwan, in Pingtung, Taiwan, 6 September 2022.

Persons: —, Lai Ching, It's Organizations: Service, Business, Coast Guard, Navy, ROC Armed Forces, 國防部 Ministry of National Defense Locations: Taiwan, China, Beijing, Taiwan's

☆ Tesla CEO Elon Musk says he favors 'no tariffs' on Chinese EVs
▼ + stars: | 2024-05-23 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

Elon Musk, co-founder of Tesla and SpaceX and owner of X Holdings Corp., speaks at the Milken Institute's Global Conference at the Beverly Hilton Hotel,on May 6, 2024 in Beverly Hills, California. PARIS, France — Tesla CEO Elon Musk said on Thursday that he doesn't support President Biden's recent announcement of a tariff on Chinese electric vehicles. "Neither Tesla nor I asked for these tariffs," Musk said during a question and answer session at the VivaTech conference Wednesday in Paris. "Tesla competes quite well in the market in China with no tariffs and no deferential support," Musk said Thursday. It's a change of tune for Musk, who suggested earlier this year that Chinese EV companies will crush competitors elsewhere in the absence of trade restrictions.

Persons: Elon Musk, Tesla, Biden's, Musk, Biden Organizations: SpaceX, X Holdings Corp, Milken Institute's Global, Beverly Hilton Hotel, Revenue Locations: Beverly Hills , California, PARIS, France, Paris, China, Europe

☆ Sweeping changes to America's aging power grid are on their way to help bypass NIMBY roadblocks and state infighting
▼ + stars: | 2024-05-23 | by ( Catherine Boudreau | ) www.businessinsider.com time to read: +9 min

America's power grid is old and stressed. The main problem: It takes way too long to build towering high-voltage power lines that carry electricity across state lines and to hook up new power to the grid. AdvertisementBut upgrading the power grid gets bogged down by several issues. A new rule issued by the Federal Energy Regulatory Commission this month is aimed at tackling some of the problems. If the US doesn't invest in regional transmission lines, customers will pay the price in the form of congestion and more life-threatening outages.

Persons: Brett White, Larry Gasteiger, Allison Clements, West Virginia —, Jeffrey Shields, PJM, Shields, Manu Asthana's, Asthana, Mark Christie, Neil Chatterjee, Chatterjee, Christine Powell, Chuck Schumer, Gasteiger Organizations: Service, Business, Energy, Princeton University, Federal Energy Regulatory, Democrat, Sierra Club, Republican, Department of Energy, DOE, FERC, Earthjustice's Clean Energy, University of Chicago, wouldn't Locations: Pine, States, Maryland, Pennsylvania, West Virginia, New Jersey, California

☆ Boeing expects a 2024 cash burn, slow recovery of airplane deliveries amid crisis, CFO says
▼ + stars: | 2024-05-23 | by ( Leslie Josephs | ) www.cnbc.com time to read: +3 min

A month ago, West forecast Boeing would generate free cash flow "in the low single-digit billions." The company's aircraft deliveries in the first quarter fell to the lowest level since the pandemic. Other problems have also sprung up, including a pause on deliveries of 737 Max planes to China to review batteries for the cockpit voice recorder. Parts shortages have also slowed deliveries of 787 Dreamliners, Boeing has said. American Airlines last month said it would cut some international flights because of delays of the wide-body jets.

Persons: Brian West, West, Dave Calhoun, Max Organizations: American Airlines Boeing, Reagan National, FAA, Boeing, Wolfe Research, Federal Aviation Administration, Civil Aviation Administration, China, American Airlines, United Airlines, Southwest Airlines Locations: Los Angeles, United States, Washington , U.S, China

☆ 'Stock is undervalued': Morningstar's Nicolas Owens on Boeing's latest setback
▼ + stars: | 2024-05-23 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'Stock is undervalued': Morningstar's Nicolas Owens on Boeing's latest setbackNicolas Owens, Morningstar Equity Analyst, joins 'Fast Money' to talk Boeing's latest setback and his take on where the stock should be.

Persons: Morningstar's Nicolas Owens, Nicolas Owens Organizations: Morningstar Equity

☆ Transition to next-generation AI chips and 2 other pressing questions ahead of Nvidia's earnings
▼ + stars: | 2024-05-22 | by ( Zev Fima | ) www.cnbc.com time to read: +8 min

Nvidia's Hopper chips include the H100, which was announced in 2022 and faced severe supply shortages last year as the AI gold rush intensified. Tuesday's AWS news represents a pushout in demand for Nvidia chips, not a loss of it. That would be the so-called "digestion" phase for AI chips that Wall Street has been speculating about since last year. If anything, AWS deciding to wait for the more-powerful Blackwell chips could mean the digestion phase is further out on the horizon than initially thought. Unlike last year, when Nvidia's chips were in such short supply, there are now rival chips out there, such as AMD's MI300X, which is angling for a corner of the inferencing market .

Persons: you've, it's, Jim Cramer, Hopper, Blackwell, Nvidia's Hopper, There's, Grace Hopper Superchip, Kimberly Powell, Powell, Jim Cramer's, Jim, Jensen Huang, Justin Sullivan Organizations: Nvidia, Blackwell, Amazon Web Services, CNBC, NVIDIA, AWS, Club, SAP Center Locations: Hopper, Ceiba, San Jose , California

☆ Carissa Moore: Before stepping away from surfing, Olympic champion has a showdown with ‘big, intense, scary’ Teahupo’o
▼ + stars: | 2024-05-22 | by ( George Ramsay | ) edition.cnn.com time to read: +7 min

CNN —Carissa Moore remembers the first time she surfed Teahupo’o, the barreling wave located off the island of Tahiti. “I was so out of my league,” recalls Moore, who has surfed the famous break numerous times throughout her career. “It’s those waves that scare you the most that end up being the best,” Moore tells CNN Sport. Moore waits for a wave at Teahupo'o during the Tahiti Pro event on August 11 last year. “Maybe I return, maybe I just focus on Moore Aloha and free surfing and doing film projects.

Persons: CNN — Carissa Moore, surfed Teahupo’o, Moore, ”, “, Teahupo’o, ” Moore, “ It’s, ’ ”, Red Bull, Ben Thourad, I’ve, I’m, “ I’m, “ There’s, Brent Bielmann, what’s Organizations: CNN, CNN Sport, Tahiti Pro, Tahiti, Getty, International Surf Association, Surf League, surfing's, Moore Aloha Locations: Tahiti, Polynesia, Hawaii, AFP, Japan, Paris

☆ Stocks at record levels are about to get their next major test — Nvidia's earnings results
▼ + stars: | 2024-05-22 | by ( Sarah Min | ) www.cnbc.com time to read: +4 min

Stocks are riding high heading into Nvidia's earnings results after the market close Wednesday. U.S. stock market benchmarks have been hovering near all-time highs. But Nvidia will test the sustainability of recent market highs given its huge size in broad market indexes, as well as its influence over investor psychology. Consider that the Jensen Huang-led company is in more than 6,000 long-only institutional funds, and in just 21 short-only funds, according to data from S & P Capital IQ. Beat and raise Many investors expect a strong showing from Nvidia will keep markets on their recent upward ascent.

Persons: Jensen Huang, Sam Stovall, Stovall, CFRA's Stovall, Piper Sandler, Harsh Kumar, Kumar, —, Blackwell, Huang, Zachary Hill, Hill, We've, Chris Zaccarelli Organizations: Nasdaq, Dow Jones, Nvidia, CFRA, Microsoft, Investments, Independent

☆ Cramer's Lightning Round: 'I would not be a buyer' of Corning
▼ + stars: | 2024-05-22 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Stock Chart Icon Stock chart icon Corning's year-to-date stock performance. Stock Chart Icon Stock chart icon Axon's year-to-date stock performance. Stock Chart Icon Stock chart icon Recursion Pharmaceuticals' year-to-date stock performance. Stock Chart Icon Stock chart icon Kratos Defense's year-to-date stock performance. Stock Chart Icon Stock chart icon Merit Medical's year-to-date stock performance.

Persons: I've, It's, Kratos

☆ Britain's inflation rate could be about to drop below the Bank of England's 2% target
▼ + stars: | 2024-05-21 | by ( Jenni Reid | ) www.cnbc.com time to read: +3 min

Bloomberg | Bloomberg | Getty ImagesLONDON — U.K. inflation could be about to hit a major milestone, with some forecasting that a sharp fall in the April print will take the headline rate below the Bank of England's 2% target. That would represent a plunge from the current level of 3.2% and could "make or break" a June interest rate cut, economists say. Ashley Webb, U.K. economist at Capital Economics, said that if the headline rate does fall below 2% in April, as he expects, it would be "momentous." "This will be crucial in determining whether the first interest rate cut from 5.25% will happen in June (as we expect) or in August. We think inflation will fall further, perhaps even to 1.0% later this year," Webb said in a Friday note.

Persons: Ashley Webb, What's, Webb, —, BOE Governor Andrew Bailey, BOE, Ben Broadbent, James Smith, ING's Organizations: Bloomberg, Getty, Bank of England's, Capital Economics, Bank of England, European Central Bank, ING Locations: Kingston, London, U.K

☆ WBD's streaming chief JB Perrette reveals the plan to get Max growing
▼ + stars: | 2024-05-21 | by ( Lucia Moses | ) www.businessinsider.com time to read: +5 min

Discovery's Max was supposed to become a Netflix killer when it rolled out a year ago. It combined HBO Max's prestige originals with Discovery+'s reality TV fare to capture viewers as they migrate away from WBD's bedrock traditional TV business. Related storiesGiven its low penetration, it's possible that Max can add tens of millions of subscribers, he said. WBD execs hope the crackdown will encourage people to subscribe to the three-in-one bundle of Max, Disney+, and its sister app, Hulu. While the overlap between Netflix and Disney+ is high, about half of Disney+ subscribers don't subscribe to Max, and vice versa, so each has a chance to significantly increase its audience.

Persons: —, Discovery's Max, WBD, Max, hasn't, JB Perrette, Perrette, We're Organizations: Service, Warner, Netflix, HBO, Disney, Hulu, Business, Nielsen, Vodafone, Amazon, Paris Olympics, Cartoon Network Locations: WBD, Orange

☆ Oil prices fall on fear of high U.S. interest rates depressing demand
▼ + stars: | 2024-05-21 | by ( ) www.cnbc.com time to read: +2 min

Oil storage drums stacked in the Keihin industrial area of Kawasaki, Kanagawa Prefecture, Japan, on Monday, April 15, 2024. Oil prices fell in early Asian trade on Tuesday, with investors anticipating higher-for-longer U.S. inflation and interest rates will depress consumer and industrial demand. "Fears of weaker demand led to selling as the prospect of Fed rate cut became more distant," said analyst Toshitaka Tazawa at Fujitomi Securities. Lower interest rates reduce borrowing costs, freeing up funds which could boost economic growth and demand for oil. OPEC+ could extend some voluntary output cuts if demand fails to pick up, people with knowledge of the matter previously told Reuters.

Persons: Toshitaka Tazawa, Philip Jefferson, Michael Barr, Raphael Bostic, Ebrahim Raisi, Ayatollah Ali Khamenei, Mohammed Bin Salman, Fujitomi's Tazawa Organizations: Brent, . West Texas, Federal, Fujitomi Securities, Atlanta Fed, Reuters, Saudi Arabia's Crown, Iranian, Investors, Organization of, Petroleum Locations: Kawasaki, Kanagawa Prefecture, Japan, Saudi, OPEC

With that in mind, we've rounded up the best Brooklyn Bedding Memorial Day deals to help you shop a little easier. The discounts include Insider Reviews favorites like the Plank Mattress and the Aurora Luxe Mattress. Below are some of our favorite products on sale during Brooklyn Bedding's Memorial Day event. For even more of the holiday's savings, check out our roundups of the best Memorial Day sales, the best Memorial Day mattress sales, and the best Memorial Day furniture sales..Brooklyn Bedding Memorial Day dealsBrooklyn Bedding Plank Firm Luxe $1,149.00 $1,532.00 Save 25% Firm mattresses can sometimes be the best option for sleepers with back pain. Shop at Brooklyn BeddingBrowse the best Memorial Day mattress deals here.

Organizations: Business, Brooklyn Locations: Brooklyn

☆ 'Bridgerton' star Claudia Jessie thinks there's 'room to play' with Eloise's love story
▼ + stars: | 2024-05-21 | by ( Palmer Haasch | ) www.businessinsider.com time to read: +7 min

Three seasons in, Claudia Jessie still thinks that Eloise Bridgerton is cool. Warning: Minor spoilers ahead for "Bridgerton" season three, part one. There's room for play as well. Claudia Jessie as Eloise Bridgerton in season three of "Bridgerton." "Bridgerton" season three, part two premieres June 13.

Persons: Claudia Jessie, Eloise Bridgerton, Jessie, Penelope Featherington, Nicola Coughlan, she's, Cressida Cowper, Jessica Madsen, Eloise, Penelope, Liam Daniel, Netflix Eloise, Lady Whistledown, it's, Nicola, we've, isn't, Cressida, Theo, Jess Madsen, We've, Jess, we'll, Daphne, Francesca, Benedict, I've, There's, there's, who's, doesn't, that's, Nothing's, I'm, I'd Organizations: Service, Business, Netflix, Guardian Locations: London

☆ How the 'Bridgerton' characters have changed since season 1
▼ + stars: | 2024-05-21 | by ( Olivia Singh | ) www.businessinsider.com time to read: +1 min

Netflix's "Bridgerton" is currently in its third season and centered on Colin and Penelope's relationship. Most of the cast members who were in the first season are still part of "Bridgerton." Similar to Julia Quinn's book series of the same name, the Regency-era drama has focused on a different Bridgerton sibling's love story each season. In season three, Colin Bridgerton (Luke Newton) is the latest member of the titular family to find love, with his longtime friend Penelope Featheringon (Nicola Coughlan). This story is available exclusively to Business Insider subscribers.

Persons: Colin, —, Julia Quinn's, Colin Bridgerton, Luke Newton, Penelope Featheringon, Nicola Coughlan Organizations: Service, Netflix, Business

☆ Some central banks have sold gold at record prices, cashing in on the global boom
▼ + stars: | 2024-05-21 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

Read previewCentral banks around the world have been snapping up gold, sending prices of the metal to record highs. The country's gold stash accounted for nearly three-quarters of its reserves as of March this year, according to WGC data. In 2022, Uzbekistan produced 110.8 tons of gold, making it the 10th top gold producer in the world, per WGC. Uzbekistan gold mining in March 2024. The country legalized private gold digging in 2019, and any gold found must be traded via its central bank.

Persons: —, it's, VYACHESLAV OSELEDKO, Shavkat Mirziyoyev Organizations: Service, Business, World Gold, Central Bank of, Uzbek, AFP Locations: China, Saudi, Central Bank of Uzbekistan, Thailand, Kazakhstan, Uzbekistan, Kazakh

☆ Microsoft, Khan Academy provide free AI assistant for all educators in US
▼ + stars: | 2024-05-21 | by ( Eric Rosenbaum | ) www.cnbc.com time to read: +5 min

Microsoft is partnering with tutoring organization Khan Academy to provide a generative AI assistant to all teachers in the U.S. for free. Khanmigo for Teachers, which helps teachers prepare lessons for class, is free to all educators in the U.S. as of Tuesday, with the financial support of Microsoft. Microsoft and Khan Academy are also planning to provide more AI-powered math tutoring to students through a new open-source small language model from Microsoft's Phi-3 AI technology. The relationship between the tech giant and education nonprofit will also feed back into Microsoft's Copilot AI, with more Khan Academy content added, and Khan content brought into Microsoft Teams for Education, an existing free communication app for students and teachers. Microsoft co-founder Bill Gates recently recommended Khan's new book on AI in education.

Persons: Sal Khan, Sam Altman, Greg Brockman, zeroed, Khan, Nadia, Alan Turing's, Khanmigo, Bill Gates, Gates Organizations: Microsoft, Academy, Khan Academy, CNBC, Khan, CNBC's Technology, Phi, Microsoft Teams, Education Locations: U.S

☆ Gold hits record peak as rate cut bets burnish appeal, silver jumps
▼ + stars: | 2024-05-20 | by ( ) www.cnbc.com time to read: +2 min

Gold prices hit an all-time high on Monday as a slowing U.S. inflation trend boosted expectations that the Federal Reserve could deliver its first interest rate cut soon, while silver scaled a more than 11-year peak. Spot gold was up 0.9% at $2,436.76 per ounce, as of 0340 GMT after hitting a record high of $2440.49 earlier in the session. Data last week showed signs of cooling inflation and traders now expect a 65% chance of a U.S. rate cut by September. "Gold prices sneaked in a cheeky record high ahead of China's (market) open on Monday. Spot silver rose 2.5% to $32.28 after hitting an over 11-year high.

Persons: Kyle Rodda, Bullion, Matt Simpson, Wang Tao Organizations: Fort, Federal Reserve, Index, Palladium Locations: Fort Knox Alaska, Kinross, Tetlin , Alaska, U.S, China's, China

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