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☆ How the ‘song of the summer’ became a cultural phenomenon
▼ + stars: | 2024-06-20 | by ( Harmeet Kaur | ) edition.cnn.com time to read: +12 min

And in an age where social media and streaming platforms have fragmented the cultural landscape, does the song of the summer even exist anymore? “It’s not like people were walking around in 1925 and saying, ‘You think that’s the summer song this year? New York Magazine’s 1995 Summer Fun issue devoted an article to examining the summer song as a unifying force — per the magazine, a summer song should be 1) released in the summer, 2) uncomplicated and 3) unforgettable. MTV’s Video Music Awards introduced a song of summer category in 2013, with One Direction’s “Best Song Ever” nabbing the inaugural award. Even as the song of the summer has become increasingly debatable, the idea that a single song could encapsulate a given summer continues to have a hold over our culture.

Persons: David Hajdu, “, ”, Hajdu, Phil Edwards, George Gershwin's, George Gershwin’s, Harry James ’, “ It’s, that’s, ’ ” Hajdu, Young, ’, ” Hajdu, Michael Ochs, Martha, Lovin, Sly, Stone, Robert Thompson, Ann Powers, Ricky Martin's, Frank Micelotta, ” Thompson, Thompson, gatekeepers, Vulture, Rolling Stone, It’s, Jason Lipshutz, Morgan, SZA, Armando L, Sanchez, Morgan Wallen’s “, Lipshutz, Miley Cyrus, Kylie Minogue, — Organizations: CNN, Day, Labor, Vox, Washington Post, Billboard, Beach Boys, Michael Ochs Archives, Vandellas, . Radio, Bleier Center for Television, Culture, Syracuse University . New, Bills, Backstreet Boys, Nielsen, American, Rolling, Social, Chicago Tribune, Tribune, Service Locations: America, Washington, Syracuse University . New York, “

Although original tickets have sold out, there are still a few options to explore when it comes to how to get Gracie Abrams tickets. If you're hoping to find Gracie Abrams tickets, you've come to the right place. Gracie Abrams 2024 tour scheduleGracie Abrams' "The Secret of Us" tour spans from Portland to Portland. How to get Gracie Abrams ticketsOriginal standard Gracie Abrams tickets were available through Ticketmaster in early June but quickly sold out. Original tickets for Gracie Abrams' concert tour have sold out, but the cheapest tickets for several dates began at around $39.50.

Persons: Gracie Abrams, Abrams, Olivia Rodrigo's, Swift, Irving, Taylor Swift Organizations: Business, Spotify, Swift, Ticketmaster, Irving, Interscope Records Locations: Portland, Oregon, Maine, Seattle, WA, Berkeley, Los Angeles, CA, Denver, Houston, Austin, Kansas City, Minneapolis, Chicago, Nashville, TN, Atlanta, Washington, New York, NY, Philadelphia, Boston, Irving , TX, North America, Canada

☆ CNBC's Inside India newsletter: India Inc might not even need a Fed rate cut — but it wants one
▼ + stars: | 2024-06-20 | by ( Ganesh Rao | ) www.cnbc.com time to read: +7 min

The big storyEmerging markets have been on tenterhooks for the better part of this year as the Federal Reserve has been dangling the prospect of an interest rate cut. Historically, as U.S. interest rates fall, the allure of the mighty dollar fades to the benefit of other currencies. Indeed, unlike most developed economies, India's interest rate regime in 2024 isn't any different from that of 2018. There lies the disconnect between the economy, the stock market, and a single stock. Non-bank lender Akme Fintrade India and engineering firm DEE Development Engineers will debut on the stock market on Wednesday.

Persons: Sumant Sinha, we've, Sinha, It's, Fitch, Rahul Jain, Goldman Sachs, Jake Sullivan, Modi, Narendra Modi, CNBC's Charmaine Jacob, Raamdeo Agrawal, CNBC's Tanvir Gill, Jain Organizations: Bloomberg, Getty, Federal Reserve, India Inc, Nasdaq, Reserve Bank of, U.S, Societe Generale, Goldman, Clean Energy, CNBC, Motilal Oswal Financial Services, of India, Bangladesh, Australia, DEE Development Engineers Locations: Tuticorin, India, Reserve Bank of India, Japan, Britain, Delhi

☆ 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

☆ A top VC predicts the industry is heading for a massive and enduring contraction
▼ + stars: | 2024-06-19 | by ( Blake Dodge | ) www.businessinsider.com time to read: +5 min

Venture capital has cyclical fluctuations, but Scott Stanford, a cofounder and partner at ACME Capital, an early-stage VC firm, thinks something more meaningful is underway. In a chart compiled by Stanford and shared with BI, by 1990, there were 300 VC firms overseeing $17 billion in assets. Now, there are 3,000 VC firms overseeing $1.2 trillion. Limited partners (LPs), or investors who put money into venture firms, have other options thanks to higher interest rates, Stanford added. AdvertisementThe ACME Capital team.

Persons: —, EisnerAmper, You've, Scott Stanford, Hany Nada, Stanford, today's, Nada Organizations: Service, Venture, Business, ACME Capital, Stanford, BI, ACME, Tech

☆ Meet the hobbyists who collect barf bags
▼ + stars: | 2024-06-19 | by ( Aj Willingham | ) edition.cnn.com time to read: +12 min

CNN —“I collect barf bags” is not a complete sentence. “I collect barf bags because they’re pretty neat.”“I collect barf bags, and I’m not the only one.”Of the eight billion people on the planet, the number of serious barf bag collectors is just north of 100, according to notable members of their ranks. The ineffable whyWhen Steve Silberburg started collecting barf bags around 1981, he thought he would be the only one. People were indeed amused, but it had an unintended side effect: Classmates started bringing Silberburg other barf bags to add to his collection. “We don’t want anybody to get ahead of us, you know.”“It makes a good litmus test, telling people you collect barf bags,” Silberburg says.

Persons: CNN —, I’m, Dramamine —, Steve Silberburg, ”, ” Silberburg, Silberburg, Eli Cox, “ It’s, that’s, Cox, “, Bob Grove, Bruce Kelly, Grove, Bob Grove's tastefully, Dramamine Bruce Kelly, Grove’s, “ I’ve, ” Kelly, Kelly, somebody’s, it’s, Bruce Kelly's, Gilmore Schjeldahl, Louis, ” Bruce Kelly, ’ Organizations: CNN, Maine, Finn Aviation, TWA Locations: “, New York City, Boston, San Francisco, Austin , Texas, San Diego, Tijuana, Burma, Myanmar, American, North Dakotan, Finnish, Omaha, St, England, Japan, Europe

☆ Meta poised for another breakout, according to the charts
▼ + stars: | 2024-06-18 | by ( Todd Gordon | ) www.cnbc.com time to read: +4 min

Meta (META) is about 5% from all-time highs and technically set up for a move to break to a new record. Since then during its 'year of efficiency' free cash flow has been built back to about $11-$13 billion per quarter for a yearly cash flow of about $50 billion. Meta is already making significant progress as its AI-generated content recommendation systems on Instagram Reels has made sharing among users increasingly popular. Analysts are expecting Meta to grow earnings by 14% for the next two years and revenues by about 12%. -Todd Gordon, founder of Inside Edge Capital, LLC DISCLOSURES: (Gordon owns META personally and in his wealth management company Inside Edge Capital Management, LLC Charts.)

Persons: we've, Todd Gordon, Gordon Organizations: Inside Edge, Reality Labs, Meta, Nvidia, Apple, Alpha, Inside Edge Capital Management

☆ A year after the Titan tragedy, a sub is planning to go back to the Titanic to make a point
▼ + stars: | 2024-06-18 | by ( Allison Morrow | ) edition.cnn.com time to read: +6 min

With OceanGate closed for business, the market for Titanic sub tourism appeared to slam shut. One leading sub operator, eager to demonstrate that the Titan sub failed to live up to the industry standards that can make trips to the ocean floor relatively safe, is already planning its own journey to the wreckage of the Titanic, where Titan was headed before it collapsed. But in its pursuit of “increasing access to the deep ocean through innovation,” OceanGate frequently skirted regulations and pushed back against industry standards. 2) OceanGate’s sub designs were so experimental, no other commercial sub operation would ever replicate them. “The deep ocean is no place for compromise,” Triton said in its statement.

Persons: ”, Larry Connor, ” Connor, Stockton Rush, ” Rush, David Pogue, “, don’t, Don’t, OceanGate, Ray Dalio, James Cameron, —, ” Triton, Lukas Furtenbach, Philippe Brown, Brown, ” Brown Organizations: New, New York CNN, Titanic, Triton, Wall Street, WSJ, CNN, Stockton, “, Triton Submarines, American Bureau of Shipping, Furtenbach Locations: New York, Austria, Hudson

☆ A bearish options trade on a travel stock running up against resistance
▼ + stars: | 2024-06-18 | by ( Nishant Pant | ) www.cnbc.com time to read: +3 min

The stock price is stalling near resistance around the $128 price level and I have a bearish options trade to capitalize on it. To further confirm a bearish bias on EXPE, I am using 3 technical indicators in the chart below: RSI (Relative Strength Index): As a stock climbs up, the Relative Strength Index (RSI) gauges the strength of the trend. DMI (Directional Movement Index): When the DI+ (green line) is above DI- (red line), the stock is in an uptrend. The Trade Setup: A Bear Put Spread I am using a “bear put spread” as my trade structure here. Most trading platforms will offer a bear put spread (or long put spread) as a trade type and automatically construct the trade for you.

Persons: EXPE, ADX, Nishant Pant Organizations: Expedia, RSI

☆ Buy these 8 stocks before a robust rebound for the 'abnormally weak' healthcare sector
▼ + stars: | 2024-06-18 | by ( James Faris | ) www.businessinsider.com time to read: +5 min

The healthcare sector's 7% return this year is less than half of the S&P 500's 14.9% gain. At first glance, the lack of interest in healthcare stocks seems justified, given the group's subpar earnings growth. However, the upcoming earnings rebound for healthcare stocks isn't accounted for in valuations. Fortunately for investors, BMO has done that legwork by highlighting a slew of top healthcare stocks in its US model portfolios. Below are the eight outperform-rated healthcare stocks in BMO's model portfolios, along with the ticker, market capitalization, and group or groups that each is in.

Persons: —, There's, Brian Belski, Belski Organizations: Service, BMO Capital Markets, Business, BMO, Healthcare, BMO doesn't Locations: Montreal

☆ French protests add to Macron's political gamble as election race heats up
▼ + stars: | 2024-06-17 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +3 min

Matthieu Delaty | Afp | Getty ImagesFrance's election campaign kicked off in earnest Monday following a weekend of violent nationwide protests against the far-right National Rally, or RN, whose record European Parliament gains sparked the snap vote. Protesters gather during an anti far-right rally after French president called legislative elections following far-right parties' significant gains in European Parliament elections, in Paris on June 15, 2024. More likely, however, is a "messy" hung parliament, he said — part of Macron's gamble to discredit RN's legitimacy ahead of the 2027 presidential elections. French stocks gained on Monday, with Goldman Sachs' senior European strategist Sharon Bell saying that the sell-off may have been premature. Protesters gather during an anti-far-right rally after French President Emmanuel Macron called legislative elections following far-right parties' significant gains in European Parliament elections in Paris on June 15, 2024.

Persons: Matthieu Delaty, Jordan Bardella, France's Le, Lou Benoist, Emmanuel Macron's, Mujtaba Rahman, Mujtaba, Goldman Sachs, Sharon Bell, Bell, CNBC's, Emmanuel Macron Organizations: National Rally, Afp, Getty, France's Le Monde, CGT, CNBC, Union, Eurasia, CAC, Generale, Protesters Locations: Lyon, France, Paris, Europe

☆ It's the hottest stock in the S&P 500 this month. When the charts say it's time to sell
▼ + stars: | 2024-06-17 | by ( Katie Stockton | ) www.cnbc.com time to read: +7 min

—Katie Stockton with Will Tamplin Access research from Fairlead Strategies for free here . Fairlead Strategies Disclaimer: This communication has been prepared by Fairlead Strategies LLC ("Fairlead Strategies") for informational purposes only. Securities, investment products, other financial products or strategies discussed herein may not be suitable for all investors. The recipient of this information must make its own independent decisions regarding any securities, investment products or other financial products mentioned herein. This material is not to be reproduced or redistributed absent the written consent of Fairlead Strategies.

Persons: AVGO, Katie Stockton Organizations: Broadcom Inc, Nvidia, Fairlead, CNBC Pro, Securities Locations: AVGO

☆ Meet the Professors Whose Porn Careers Cost Them Their Jobs
▼ + stars: | 2024-06-16 | by ( Hallie Lieberman | ) www.businessinsider.com time to read: +28 min

The porn videos had titles like "Juicy Anniversary" and "Bedroom Shenanigans." In search of a man for Wilson, Gow sought advice from his therapist, who suggested joining a swingers club. In the background, Video Gow is moaning "Oh yeah" as IRL Gow says, "I've always had some ED issues." As the video ends with the big finale — the money shot, as it's known in the industry — Video Gow stands above kneeling Video Wilson, arms outstretched. The termination letter said he had failed to properly report his income from the porn videos and had violated "prohibitions for using one's public position for private benefit."

Persons: Joe Gow, Carmen Wilson, Gow, isn't, " Gow, Wilson, Bruce Springsteen, we've, It's, I'm, Simone Lueck, BI Gow, hadn't, Wilson's, Nina Hartley, Danny Mountain, who'd, We've, Cal Berkeley, Lauren Phillips, Phillips, mischievously, We’ll, We'll, Barack Obama, Geri, Jay Hart, IRL Gow, I've, she'd, Barack Obama's, Hartley, Raymond Cross, Cross, Hartley dustup, Stills, —, Tony Tomich, Moberg doesn't, Gow's, demurely, Starr, Socrates, Eugene Volokh, Roe, Diane, wouldn't, aren't, They've, Wilson wouldn't, Hallie Lieberman, She's Organizations: University of Wisconsin, selfies, CNN, The, BI, UW, La, Sony, Higher, MIT, USC, Cal, Dickinson State University, Food Network, IRL, Dartmouth, La Crosse Tribune, La Crosse, University of, FTI Consulting, Easton Moberg, Press, Stanford, Court, eBay, Sssh.com Locations: La Crosse, London, India, Gaza, Gow, Rock, San Francisco, Wisconsin, Chicago, Los Angeles, North Dakota, Arizona, Communist China, City, San Diego

☆ Cocoa prices are soaring. Candy makers will need to get creative
▼ + stars: | 2024-06-15 | by ( Amelia Lucas | ) www.cnbc.com time to read: +7 min

Prices of cocoa have more than tripled over the last year, creating a big headache for candy makers and other food companies that use the ingredient to make chocolate. The price surge has since eased off slightly, but the crop is still commanding well above what food companies are used to paying. This season's cocoa crop is expected to experience the largest deficit in at least six decades, according to a Rabobank report from May. A YouGov survey conducted in October found that 72% of U.S. respondents had noticed shrinkflation in food products. J&J Snack Foods CEO Daniel Fachner has been keeping an eye on cocoa and chocolate prices.

Persons: Ferley Ospina, Hershey, Kinder, Ferrero, they'll, Steve Rosenstock, Mondelez, shrinkflation, Daniel Fachner, Fachner, Justin Sullivan, Nik Modi, Modi, shea, Rosenstock Organizations: Bloomberg, Getty, Cadbury, Clarkston Consulting, Rabobank, Reuters, Mondelez, Consumers, Snack, CNBC, RBC Capital, Jumbo Locations: Ragonvalia, Norte de Santader, Colombia, . West Africa, Ghana, U.S, Novato , California, West

☆ A famed economist who called the 2008 recession shares 3 ways stocks resemble some of the biggest bubbles in history — and warns 2 'bona fide' recession signals showed up in May's jobs data
▼ + stars: | 2024-06-15 | by ( William Edwards | ) www.businessinsider.com time to read: +6 min

Investors are currently reveling in the 'better', as an ongoing eight-month melt-up once again pushed the S&P 500 to fresh highs this week. But sooner or later, the 'worse' will come, warns David Rosenberg, the founder of Rosenberg Research, who famously called the 2008 recession while working as Merrill Lynch's chief economist. AdvertisementAnother sign the market is out over its skis is the performance divergence between the market cap-weight and the equal-weighted S&P 500 indexes. On June 12, the Dow underperformed the S&P 500 by 0.94%, one of only 71 trading days since 1982 where that's happened, according to Rosenberg's technical analysis consultant, Walter Murphy. AdvertisementIn addition to concerning market technicals, fundamentals could also be in a troubling place in the form of labor market weakness, Rosenberg said.

Persons: —, David Rosenberg, Merrill Lynch's, Rosenberg, Bob Farrell, Walter Murphy, Murphy, — Rosenberg, it's, Louis Fed, Piper Sandler Organizations: Service, Rosenberg Research, Business, Tech, Dow Jones, Dow, Nvidia, Microsoft, Apple, Federal Locations: lockstep

☆ Workers in certain industries tend to have higher 401(k) balances, Fidelity data shows
▼ + stars: | 2024-06-14 | by ( Lorie Konish | ) www.cnbc.com time to read: +1 min

To gauge your retirement preparedness, you may compare your 401(k) balance with other savers' progress. But you might find that people in your field are a better comparison point than those in your age group. Recent data from Fidelity finds that 401(k) plan investors on the firm's platform had a $125,900 average 401(k) balance in the first quarter. Fidelity put industry data together so the companies on its 401(k) platform could better understand their employees' savings behavior, according to Mike Shamrell, vice president of thought leadership for workplace investing at Fidelity. "They want to make sure that what they're doing is aligned with the companies that they're competing with for talent," Shamrell said.

Persons: Z, Mike Shamrell, Shamrell Organizations: Fidelity, Finance, Biden

☆ IRS: Taxpayers may avoid a penalty by making a second-quarter estimated payment by June 17
▼ + stars: | 2024-06-14 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

The second-quarter estimated tax deadline for 2024 is June 17, and you could owe a penalty if you don't send a payment, according to the IRS. You typically owe estimated tax payments for income without withholdings, such as from contract jobs, freelancing or gig economy work, or if you run a small business. But quarterly estimated tax payments are not just for the self-employed or small business owners, experts say. You must make quarterly estimated tax payments if you expect to have at least $1,000 in tax liability or more on your 2024 return. For the 2024 tax year, the estimated tax deadlines are April 15, June 17, Sept. 16 and Jan. 15, 2025.

Persons: Kelly Renner Organizations: Finance, Biden, Partners Locations: Augusta , Georgia

☆ Toyota has been rocked by a string of scandals — but analysts are unfazed
▼ + stars: | 2024-06-14 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +4 min

A sign is displayed outside a Toyota Motor Corp. dealership on Jan. 30, 2024 in Tokyo, Japan. Toyota Chairman Akio Toyoda apologized Monday for massive cheating on certification tests for seven vehicle models as the automaker suspended production of three of them. Toyota took the crown with 10.7% market share, while Germany's Volkswagen came in second with a 6% market share. But for Toyota, the top automaker by market share in the world, the latest safety scandal is not the first time it's being investigated for false test data. In April last year, Daihatsu said it had rigged side-collision safety tests carried out for 88,000 small cars, most of those sold as Toyotas.

Persons: Akio Toyoda, Tomohiro Ohsumi, Germany's Volkswagen, that's, Toyota —, Suzuki, Toyoda, Hino Organizations: Toyota Motor Corp, Toyota, Getty, Germany's, Honda, country's Ministry of Land, Transport, Mazda, Suzuki Motor, Yamaha Motor, Corolla Fielder, Corolla, Daihatsu, Citi Locations: Tokyo, Japan, Infrastructure, Tourism

☆ Cramer's Lightning Round: 'Let's stay away' from Unity Software
▼ + stars: | 2024-06-14 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Stock Chart Icon Stock chart icon Vistra's year-to-date stock performance. "Stock Chart Icon Stock chart icon Novavax's year-to-date stock performance. Stock Chart Icon Stock chart icon Twilio's year-to-date stock performance. Stock Chart Icon Stock chart icon H.B. Stock Chart Icon Stock chart icon Unity Software's year-to-date stock performance.

Persons: it's, Fuller, It's, Let's Organizations: Unity Software, Ardagh Locations: Fuller's

☆ Apple just formed a bullish golden cross chart pattern
▼ + stars: | 2024-06-14 | by ( Alex Harring | ) www.cnbc.com time to read: +1 min

The maker of iPhones and iPads has formed a "golden cross," a technical indicator signaling when a stock's moving average over the last 50 days rises above the same moving average tracking the last 200 days. It's the first time since March that Apple's 50-day moving average trades above its 200-day counterpart. Despite the outperformance, Apple shares have advanced less than 11% this year, underperforming both the broad S & P 500 and technology-heavy Nasdaq Composite . While the golden cross can indicate upside momentum, Wall Street expects a correction ahead. AAPL 5D mountain Apple, 5-day Correction: A previous version misstated when Apple's previous golden cross pattern took place.

Persons: Siri, LSEG Organizations: Apple, Apple Intelligence, Nasdaq Locations: Silicon Valley

☆ Senate Democrats call for higher taxes on Wall Street profits to address federal budget deficit
▼ + stars: | 2024-06-13 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

Senator Chuck Grassley, a Republican from Iowa and ranking member of the Senate Budget Committee, during a hearing in Washington, DC, on Tuesday, March 12, 2024. As Congress wrestles with a looming decision over trillions in expiring tax breaks, lawmakers and experts in a Senate Budget Committee hearing debated several Democratic proposals for higher taxes on corporations and wealthy Americans. Proponents said the plans aim to address income inequality and the federal budget deficit. However, many of these proposals, such as reforms to carried interest, have failed to gain broad support even among Democrats, said Sen. Chuck Grassley, R-Iowa. While carried interest reform was originally included in the Inflation Reduction Act, those changes were removed before the bill passed in the Senate.

Persons: Chuck Grassley, Joseph Stiglitz, Sen, Mitt Romney Organizations: Republican, Finance, Biden, Trump, Columbia University, Senate Locations: Iowa, Washington ,, R, Utah

☆ There's trouble brewing in the financial sector, according to the charts
▼ + stars: | 2024-06-13 | by ( David Keller | ) www.cnbc.com time to read: +3 min

The financial sector, along with other value-oriented sectors, is beginning to significantly underperform the major equity benchmarks over the last six weeks. We'll share a potential short candidate, close to breaking down through a key support level that could indicate much further downside to come. First, let's visualize the relative performance of the financial sector, along with three other value sectors that have all shown deterioration since April. In searching through the financial sector for an actionable chart to play potential downside, I discovered that Progressive Corp. (PGR) is showing all the signs of a bearish rotation. BEFORE MAKING ANY FINANCIAL DECISIONS, YOU SHOULD STRONGLY CONSIDER SEEKING ADVICE FROM YOUR OWN FINANCIAL OR INVESTMENT ADVISOR.

Persons: PGR, I'm, David Keller Organizations: Progressive Corp, Progressive, PGR, CMT

☆ Here are the 'micro pockets' of deflation in May 2024 — in one chart
▼ + stars: | 2024-06-13 | by ( Greg Iacurci | ) www.cnbc.com time to read: +5 min

There are currently some "micro pockets" of deflation in the U.S. economy, said Joe Seydl, a senior markets economist at J.P. Morgan Private Bank. Why prices are deflating for goodsConsumers have largely seen prices deflate for physical goods, such as cars, furniture and appliances, economists said. For example, households have seen prices for furniture and bedding fall by 3.7% since May 2023, according to the consumer price index. watch nowThe U.S. dollar's strength relative to other global currencies has also helped rein in prices for goods, economists said. Travelers have also seen deflation for airline fares (-5.9%), hotels (-1.7%) and car rentals (-8.8%) since May 2023.

Persons: Joe Seydl, Seydl, Michael Pugliese, they've, Hayley Berg, Hopper, Olivia Cross Organizations: Getty, Morgan Private Bank, Consumers, Wells, Wells Fargo Economics, Finance, Federal Reserve, of Labor Statistics, U.S, Canadian, Capital Economics Locations: U.S, Wells Fargo, North America

☆ Chinese EV stocks surge after EU slaps up to 38% additional import tariffs
▼ + stars: | 2024-06-13 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +5 min

Citi analysts said the EU's additional tariffs were "generally benign," while one analyst from Morningstar pointed out that the additional duties were "modest" in comparison to U.S. hikes on Chinese EVs last month. Stock Chart Icon Stock chart icon BYD vs GeelyOn Wednesday, the EU said it would impose extra tariffs on Chinese EV players with a large footprint in Europe. BYD will be subject to additional tariffs of 17.4%, Geely will get an extra 20% duty. Citi analystsThe EU said in a statement it has provisionally concluded that Chinese EV makers benefits from "unfair subsidization," which resulted in "threat of economic injury" to EU's EV industry. watch nowThe additional duties come after the EU launched a probe in October.

Persons: Geely, Li, Morningstar, Joe Biden, Vincent Sun, Europe Joseph Webster, Webster, BYD, Tesla, Paul Triolo Organizations: Automotive Exhibition, Getty, Nurphoto, European Union, Li Auto, SAIC, Citi, EU, EV, Morningstar, Wednesday, Ministry of Commerce, Atlantic Council's Global Energy Center, Volvo, Nomura, Albright, Group Locations: Beijing, China, Geely, EU, Europe, U.S, Hungary, Swedish, Belgium

☆ Chart of the Day: Broadcom
▼ + stars: | 2024-06-13 | 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 EmailChart of the Day: BroadcomCNBC’s Kristina Partsinevelos joins ‘Halftime Report’ to discuss the latest news on Broadcom, surging today after posting strong earnings results.

Persons: Kristina Partsinevelos Organizations: Broadcom

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