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☆ Dow falls by more than 600 points as markets continue to fret about a rate cut
▼ + stars: | 2024-05-23 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +2 min

New York CNN —The Dow tumbled by more than 600 points Thursday afternoon as all three major indexes moved lower, even after AI-darling Nvidia delivered stellar quarterly earnings and announced a 10-for-1 stock split. Chipmaker Nvidia soared more than 9% as the wider market dropped lower, highlighting a lack of market breadth. The S&P 500 and Nasdaq Composite, which began the day at new intraday highs, fell by 0.8% and 0.5%, respectively. “I think we’re set up for stickier inflation.”“The bond market set the dour mood that we see across much of the market,” wrote Interactive Brokers chief strategist Steve Sosnick on Thursday. “Coming on the back of yesterday’s ‘higher for longer’ Fed Minutes, bond traders were in no mood to hear about a strengthening economy,” wrote Sosnick.

Persons: Dow, ”, Louis Navellier, Goldman Sachs, David Solomon, “ I’m, “, Steve Sosnick Organizations: New, New York CNN, Nvidia, Nasdaq, “ Tech, Navellier, NVIDIA, Federal Reserve, resurging, Boston College, Interactive Brokers, Treasury, ’, ” Boeing Locations: New York

☆ Fed officials aren’t easing Wall Street’s nerves
▼ + stars: | 2024-05-22 | by ( Bryan Mena | ) edition.cnn.com time to read: +4 min

Optimism spurred by the latest inflation data pushed all three major stock indexes to new record highs. But now Wall Street, eager for rate cuts, is on edge again. But some financial leaders remain doubtful that the Fed is feeling confident enough to cut rates soon. “I think we’re set up for stickier inflation.”Some Fed officials say another rate hike isn’t likelyFed officials have mostly sounded a little more optimistic about inflation recently, after the Consumer Price Index for April finally provided some welcome news. Cleveland Fed President Loretta Mester told Bloomberg on Monday that she also thinks interest rates are high enough to deal with inflation.

Persons: they’re, Dow, Christopher Waller, ” Waller, Goldman Sachs, David Solomon, “ I’m, ”, “, Philip Jefferson, Mary Daly, Axios, Jerome Powell, Klaas Knot, Loretta Mester, Chris Larkin Organizations: Washington CNN, Federal Reserve, CNBC, ”, Peterson Institute for International Economics, Boston College, Mortgage, Association, ” San Francisco Fed, European Central Bank Governing, Cleveland Fed, Bloomberg, “ Locations: ” San

☆ Apple iPhone sales plunge 24% in China as Huawei smartphone business resurges, report says
▼ + stars: | 2024-03-05 | by ( Ryan Browne | ) www.cnbc.com time to read: +3 min

Sales of Apple's iPhone plunged in China in the first six weeks of 2024, according to a Counterpoint Research report. The analyst firm said in a note on Tuesday that iPhone sales plunged 24% in the period, as Apple faced stiff competition from local smartphone firms like Huawei, Oppo, Vivo, and Xiaomi. In particular, Apple came under major pressure from Chinese tech giant Huawei, whose consumer business is experiencing a resurgence in China after the launch of its Mate 60 smartphone. Oppo's smartphone shipments dropped 29% year-on-year, while Vivo and Xiaomi logged drops of 15% and 7%, respectively, according to Counterpoint Research. Huawei smartphone unit shipments rose 64% year-over-year in the first six weeks of 2024, according to Counterpoint Research.

Persons: Apple, Neil Shah, Shah, Arjun Kharpal Organizations: Apple, Research, Huawei, Oppo, Counterpoint Research, CNBC Locations: Yantai, East China's Shandong, China, Vivo, U.S, iPhones

☆ Vaccines Didn’t Turn Back Mpox, Study Finds. People Did.
▼ + stars: | 2024-02-29 | by ( Apoorva Mandavilli | ) www.nytimes.com time to read: +2 min

Why It Matters: Vaccines often arrive too late to stamp out outbreaks. Public health messaging can “be really powerful to control epidemics, even as we’re waiting for things like vaccines to come,” he said. Some experts unrelated to the work were not convinced that behavioral change was largely responsible for stemming the outbreak. “Add in some vaccine-induced immunity in this group and a bit of behavior change, and it will be even more effective,” he said. “As we’ve seen with Covid, the behavioral change only lasts so long,” she said.

Persons: Miguel Paredes, Paredes, ”, Bill Hanage, Thomas Skinner, Virginia Pitzer, we’ve Organizations: Fred Hutchinson Cancer Center, Food and Drug Administration, Vaccines, Harvard, of Public Health, Disease Control, Yale School of Public Health Locations: Seattle, North America, Chan, resurging

☆ A career coach shares the top industries hiring Gen Z and millennials in 2024 — and where layoffs might happen
▼ + stars: | 2024-01-18 | by ( Elle Hardy | ) www.businessinsider.com time to read: +7 min

Eliana Goldstein is a career coach for millennial and Gen Z workers. AdvertisementThis as-told-to essay is based on a conversation with Eliana Goldstein, a 35-year-old career coach from New York City. As a career and success coach who predominantly works with millennials and Gen Zers, I help people create careers that don't make them dread Monday morning . From there, we work on strategies to determine the right career path for them, then execute and land the job. Hospitality companies collect data on their guests, such as booking information and reviews, while tech companies collect data on consumer spending habits, among other things.

Persons: Eliana Goldstein, —, millennials, Gen Zers, it's, We've, It's, They're Organizations: Service, Tech, Hospitality, Employers, Technology Locations: New York City

☆ Oil group OPEC and its allies delay policy-setting meeting by four days
▼ + stars: | 2023-11-22 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +4 min

Opec logo displayed on a smart phone with Opec seen in the background, in this photo illustration. It was not immediately clear whether the OPEC+ group would be holding a virtual or in-person meeting on Thursday, or whether ministers would still adjourn at the OPEC secretarial headquarters in Vienna. Earlier in the day, Bloomberg News issued a report saying the meeting of Sunday could be delayed amid Saudi dissatisfaction over the oil production levels of some countries. The upcoming meeting faced a challenging market environment, defined by depressed oil prices, a slower-than-expected Chinese demand recovery and petropolitics amid conflict in the Middle East. High interest rates and banking turmoil largely slumped oil prices in the first half of the year, before a sharp boost from several voluntary supply declines announced independently of OPEC+ strategy.

Persons: Jonathan Raa, Ice Brent, —, Abdulaziz bin Salman Organizations: Getty, of, Petroleum, Ice, OPEC Secretariat, Conference of, United, United Arab Emirates —, Bloomberg News Locations: Brussels, Belgium, OPEC, Vienna, Dubai, United Arab, Saudi, Saudi Arabia, Russia, China, Israel, Iran, Venezuela

The yield on the 10-year Treasury was up less than 1 basis point at at 4.63%. The 2-year Treasury yield was last trading at 5.058% after slipping four basis points. U.S. Treasury yields were little changed Monday, as investors considered the state of the economy and awaited key inflation data due out this week for indicators of monetary policy decisions ahead. On Friday, Moody's Investors Services lowered its U.S. credit rating outlook from stable to negative, citing fiscal deficits and political division as key factors. Meanwhile, several key data points that could inform the Federal Reserve's upcoming monetary policy plans are expected this week.

Persons: Jerome Powell, Powell Organizations: Treasury, U.S, Moody's Investors Services, Federal, New Locations: U.S, New York

☆ The Israel-Hamas war hasn’t set off market panic. That doesn’t mean investors aren’t concerned
▼ + stars: | 2023-10-24 | by ( Krystal Hur | ) edition.cnn.com time to read: +4 min

New York CNN —Investors have much on their minds these days, but there’s one thing seemingly staying under the radar. The Israel-Hamas war, which began in early October, initially rattled global financial markets, sending stocks tumbling, the Israeli shekel sliding and oil prices climbing. Potential escalation, potential impactNow, markets are looking decidedly less bright. Wall Street hasn’t completely shrugged off the potential impacts on financial markets from the Israel-Hamas war. His firm increased its allocation to longer-term government bonds this week to lock in currently high yields before potential declines down the line.

Persons: “, ”, Yung, Yu Ma, David Bahnsen, Ma Organizations: New, New York CNN —, Peoples, Treasury, Federal, BMO Wealth Management, Microsoft, Fed, Dow Jones, Traders Locations: New York, Israel, Saudi Arabia, Russia

☆ What you need to know about Europe’s bedbug panic
▼ + stars: | 2023-10-14 | by ( Blane Bachelor | ) edition.cnn.com time to read: +12 min

“Since I am a dermatologist and I post a lot on my clinic account, I thought it would be nice to post a reel on bed bugs,” she told CNN Travel. “I was like, ‘I find that very hard to believe’,” Starkey told CNN Travel. Yet in Belgium, doctors in Antwerp are “sounding the alarm” about the spread of bedbugs from Paris, according to The Brussels Times. Colleen Oakley, a bestselling novelist in Atlanta, told CNN Travel she would “absolutely not travel” to Paris right now based on her “awful” experience with the creepy crawlies in 2006. It sounds silly to have panic attacks over bugs, but they are really invasive critters.

Persons: Zeina Nehme, bedbugs, Nehme, “, ” Cynthia Starkey, Starkey, texted Starkey, she’d, ” Starkey, Mikayla, I’m, ’ ” Starkey, ” Zach DeVries, ” DeVries, Stella McCartney, Marc Piasecki, Emmanuel Macron’s, Paris Emmanuel Grégoire, Aurélien Rousseau, bedbugs ”, hasn’t, Sadiq Khan, ”, Joe Rominiecki, I’ve, Richard Pollack, Pollack, Paris –, Apple bedbugs, “ Bedbugs, –, Naomi Campbell, “ bedbugs, Colleen Oakley, Oakley Organizations: CNN, City, CNN Travel, Paris, University of Kentucky’s, bedbugs, Fashion, French, Monde, Emmanuel Macron’s Renaissance Party, French Health, France Inter, Eurostar, French Agency for Food, Occupational Health, Safety, Entomological Society of America, Harvard Campus Services, Apple, NL Times, Brussels Times, Air, World Health Organization, telltale, American Academy of Dermatology Association, Travelers, Orkin Locations: Paris, London, City of, Beirut, Lebanon, Phoenix, Europe, France, New York, Netherlands, Belgium, Luxembourg, Germany, Antwerp, bedbugs, Air France, Orkin Canada, Atlanta, New, West Village

WASHINGTON (AP) — The global economy has shown “remarkable resilience’’ but still bears deep scars from the coronavirus pandemic, the war in Ukraine and rising interest rates, the head of the International Monetary Fund said Thursday. The United States, she said, “is the only major economy where output has returned to its pre-pandemic path. Weighing on global growth is China’s disappointing recovery despite the lifting late last year of draconian zero-COVID policies, which had crippled commerce in the world's second-biggest economy last year. She said the odds are rising that global economy can manage a “soft landing’’ — avoiding recession even while bringing down inflationary pressure. “Fighting inflation is the number one priority,’’ she said, urging central banks to keep interest rates “higher for longer.

Persons: “, Kristalina Georgieva, Georgieva, ’, Sam Metz Organizations: WASHINGTON, International Monetary Fund, IMF, World Bank, Global, U.S . Federal Reserve, Bank, Associated Press Locations: Ukraine, Abidjan, Ivory Coast, United States, Marrakesh, Morocco, Rabat

☆ Guggenheim upgrades Microsoft, says generative AI is 'too strong' to ignore
▼ + stars: | 2023-09-25 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Generative AI advancements can help Microsoft bounce back from its recent losses, according to Guggenheim. Analyst John DiFucci upgraded the stock to neutral from sell, saying the "potential monetary benefit from Generative AI is too strong a force to contend with" despite the company's recent underperformance. The analyst removed his price target on the stock as he believes the stock is trading around a fair valuation. Prior to the upgrade, DiFucci was the last analyst with a sell rating on Microsoft, according to FactSet. Guggenheim expects Office to continue to benefit from these factors, even aside Generative AI, he said.

Persons: John DiFucci, OpenAI, DiFucci, Guggenheim, GenAI, Michael Bloom Organizations: Microsoft, Guggenheim, ChatGPT, Microsoft's, Office

☆ Black Lung Is Resurging
▼ + stars: | 2023-09-07 | by ( Kris Maher | Photographs Rich-Joseph Facun For The Wall Street Journal | ) www.wsj.com time to read: 1 min

Roughly one in five miners in the Central Appalachia coalfields of West Virginia, Kentucky and Virginia now have black lung disease, according to the National Institute for Occupational Safety and Health. Black lung, a devastating illness that scars lung tissue and makes breathing increasingly difficult, has made a comeback in the past two decades after hitting a low in the 1990s.

Organizations: National Institute for Occupational Safety, Health Locations: Central Appalachia, West Virginia , Kentucky, Virginia

☆ All-you-can-eat buffets in Las Vegas are reportedly drawing up to 2-hour wait times amid a resurgence in popularity
▼ + stars: | 2023-06-30 | by ( Haley Tenore | ) www.businessinsider.com time to read: +3 min

The resurgence of buffet-style restaurants is leading to wait times of up to two hours, NYT reports. Buffet-style restaurants in Las Vegas are now seeing wait times of up to two hours, The New York Times reports. Though these findings are significant in vacation hot spots like Las Vegas, buffets across America also are seeing a boost. The buffet affords its patrons a meal that is ready upon arrival which cuts down the wait times." Not all buffet restaurants were lucky enough to see a post-pandemic comeback — some closed down for good during the COVID-19 pandemic and nationwide restrictions.

Persons: Buffets, —, There's, Lori Ford, Ford Organizations: Service, New York Times, Cosmopolitan, CNN, The New York Times, Movie, Food and Drug Administration, Tomatoes, Times Locations: Las Vegas, Vegas, Bellagio, buffets, America, Hattiesburg , Mississippi

☆ U.S. and China trade barbs at top security summit as Taiwan Strait tensions simmer
▼ + stars: | 2023-06-05 | by ( Clement Tan | ) www.cnbc.com time to read: +6 min

On Saturday, when Austin took to the stage at the summit where global defense leaders gathered, he called out China for refusing to engage in military dialogue. China believes that a major country should behave like one," Li said Sunday in a translation provided by summit organizers. China claims self-governed Taiwan as part of its territory and regards any foreign presence near the island as a form of interference in its domestic affairs. China's Minister for National Defense, General Li Shangfu, delivers his plenary session Sunday at the 20th Asia Security Summit in Singapore, known as the Shangri-La Dialogue. Calls for dialogueYet, even as the U.S. and China defense chiefs talked past each other, so-called middle powers such as Australia urged the two feuding powers to reestablish dialogue.

Persons: Li Shangfu, Lloyd Austin, Austin, China's Li, Li, Defense Lloyd Austin, Roslan Rahman, Philippines —, General Li Shangfu, Anthony Albanese Organizations: American, Defense, China's Defense, Afp, Getty, Pacific Command, Delegates, China's, National Defense, 20th Asia Security Summit, Australian Locations: SINGAPORE, Singapore, Beijing, China, U.S, Taiwan, People's Republic of China, South China, Asia, Pacific, Indonesia, Malaysia, Philippines, Estonia, Sweden, Germany, Australia, Japan, South Korea, India, France

☆ Euro zone services sector resurging as economic fears ease: economist
▼ + stars: | 2023-03-24 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEuro zone services sector resurging as economic concerns ease and travel picks up: economistChris Williamson, chief business economist at S&P Global Market Intelligence, says the latest flash euro zone PMI figures show resurgent growth in the services sector, but "manufacturing is a stagnant picture."

☆ Cowen upgrades Delta as travel recovery continues, says shares can rally nearly 80%
▼ + stars: | 2022-10-14 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

Delta Air Lines ' shares are due for takeoff as the industry's recovery continues its rebound from pandemic lows, Cowen says. Analyst Helane Becker upgraded shares of the airline to outperform from market perform, saying in a note to clients Friday that increased business and international travel as pandemic restrictions ease should provide solid tailwinds for Delta moving forward. Cowen's $54 price target suggests shares can rally about 78% despite dropping more than 22% this year. Along with the upgrade, Cowen upped its 2022 and 2023 earnings per share estimates to $2.84 and $7, respectively. Airline stocks suffered during the early days of Covid-19 as lockdowns halted most travel and resurging cases dented consumer appetite.

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