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☆ Take Five: School's (not) out for summer
▼ + stars: | 2023-07-21 | by ( ) www.reuters.com time to read: +5 min

LONDON, July 21 (Reuters) - The peak holiday season is gearing up, but school's not quite out for summer in financial markets. Also in focus are earnings from some of the massive tech and growth stocks that have led markets higher this year. Reuters Graphics2/ SUMMER READINGBefore they go on their summer break, ECB policymakers have a well-flagged rate hike to deliver. Rate-setters' summer reading list just got longer. Second-quarter earnings are expected to decrease 9.2% from a year earlier, according to I/B/E/S data from Refinitiv, with aggregate earnings likely to be weighed down by poor performance from energy companies.

Persons: school's, Ira Iosebashvili, Kevin Buckland, Naomi Rovnick, Alun John, Dhara, Jerome Powell, Christine Lagarde, Kazuo Ueda's, Shinichi Uchida, Uchida, Ueda, Stocks, it's, Dhara Ranasinghe, Muralikumar Organizations: U.S . Federal Reserve, European Central Bank and Bank of Japan, Reserve, Microsoft, Reuters, ECB, Bank of Japan, Barclays, People's Party, Socialist Workers ' Party, Thomson Locations: Spanish, Ira, New York, Tokyo, London, Europe, SPAIN, Spain

☆ SpaceX to launch the first test payload for a bold new drug development company
▼ + stars: | 2023-06-12 | by ( Jackie Wattles | ) edition.cnn.com time to read: +17 min

Its research, company officials hope, could lead to better, more effective drugs — and hefty profits. Varda Space industriesHow it worksVarda’s vision is straightforward: The company’s capsule will launch with an experiment already on board. Varda Space IndustriesDrugs in spaceMuch of the legwork for Varda’s drug experimentation can be done on the ground. The exorbitant price tag of drug research is often passed on to consumers in the form of eye-popping prices, which frequently draws critical headlines. “You’ll see like this entire ecosystem coming up to create this fertile ground for commercialization of space,” Bruey said.

Persons: El, Varda, “ It’s, ”, Will Bruey, ” Varda, what’s, Merck, Keytruda, Varda’s, Covid, that’s, Gabe Ramirez, ” Bruey, Elon Musk, Peter Thiel, “ I’ve, ” Asparouhov, Asparouhov, “, who’s, You’re, Nicholas Cialdella, Bruey, Jon Barr, Mark Herbert, there’s, Eric Lasker, ” Lasker, Varda isn’t, It’s, Paul Reichert, Merck hasn’t, Reichert, Herbert Organizations: El Segundo , California CNN, Citigroup, Varda Space Industries, SpaceX, Vandenberg Space Force, Big pharma, Merck, Bristol Myers Squibb, ISS, Laboratory, Space Station, Rocket, CNN, NASA, Company, Founders Fund, PayPal, Pharmaceuticals, Fortune, Space Industries, US Air Force, Utah Test, pharma, “, Congressional, International Locations: El Segundo , California, California, Los Angeles, Delian, Salt Lake City, ”

☆ Opinion: Mitch McConnell’s confidence is being put to the test
▼ + stars: | 2023-05-14 | by ( Richard Galant | ) edition.cnn.com time to read: +17 min

We’re looking back at the strongest, smartest opinion takes of the week from CNN and other outlets. Not to worry, said Senate Minority Leader Mitch McConnell, a veteran of debt limit battles. McConnell’s reassurance that all will work out in the end is validated by history, but that doesn’t mean this time couldn’t be different. “If female voters are key to a Donald Trump victory in 2024, the former president should be in big trouble – but he doesn’t seem to care,” Jill Filipovic observed. “The town hall audience – selected on the basis of their intention to vote in the Republican primary in New Hampshire – appeared to be made up mostly of Trump fans.

☆ Morning Bid: RBA shock hike starts huge week for central banks
▼ + stars: | 2023-05-02 | by ( ) www.reuters.com time to read: +2 min

A look at the day ahead in European and global markets from Asia markets correspondent Kevin Buckland. The Reserve Bank of Australia kicked off a string of major central bank meetings this week by surprising markets with a quarter-point rate hike, when most had been positioned for a pause. The debate among policy makers is whether to opt for another half-point hike or slow to a quarter-point pace. The Fed, meanwhile, is widely expected to hike rates by a final quarter point and then signal a pause. Money markets are still betting on a Fed rate cut before the end of the year.

☆ The U.S. could hit the debt ceiling by June 1, much sooner than expected, Yellen warns
▼ + stars: | 2023-05-01 | by ( Christina Wilkie | In | ) www.cnbc.com time to read: +3 min

WASHINGTON — Treasury Secretary Janet Yellen on Monday warned that the United States may run out of measures to pay its debt obligations by June 1, earlier than the government and Wall Street had been expecting. The combination of Yellen's letter and the new CBO estimate added a fresh sense of urgency to stalled negotiations between President Joe Biden and McCarthy's Republican majority in the House. "Republicans' failure to agree to cleanly raise the debt ceiling has brought the United States to the brink of economic catastrophe," said Democratic Senate Budget Committee chairman Sheldon Whitehouse, R.I., in response to Yellen's letter. The Goldman Sachs estimate noted that so far there have been few ripples in the markets from rising debt-related risk. But this could change, analysts wrote, "once the Treasury announces a specific deadline for Congress to raise the debt limit."

☆ Meet Peter Tuchman, the most photographed stock trader on Wall Street
▼ + stars: | 2023-03-25 | by ( Morgan Chittum | ) www.businessinsider.com time to read: +5 min

Peter Tuchman, one of the most recognizable stock brokers on Wall Street, has been at the NYSE for over 37 years. Tuchman, who has been at the New York Stock Exchange for nearly 38 years, is the most-photographed broker on the trading floor. Tuchman describes the New York Stock Exchange as "the delta of all information" and the "last standing human entity market in the world." He landed a summer job as a teletypist at the New York Stock Exchange days after getting back. In the midst of the craziness, the wildness, and the chaos of the stock market.

☆ Saudi Arabia, Iran Restore Relations in Deal Brokered by China
▼ + stars: | 2023-03-10 | by ( Stephen Kalin | Benoit Faucon | ) www.wsj.com time to read: 1 min

Iranian President Ebrahim Raisi. Under the agreement, Iran and Saudi Arabia will reopen their embassies within two months. RIYADH, Saudi Arabia—Iran and Saudi Arabia agreed to re-establish diplomatic relations Friday in a deal brokered by China, ending seven years of estrangement and jolting the geopolitical alignment of the Middle East. The deal, which comes after other unsuccessful attempts by Iraq and others to mend fences, marks a diplomatic victory for Beijing in a region where the U.S. has long dominated geopolitics.

☆ How the Turkey earthquake caused thousands of aftershocks
▼ + stars: | 2023-03-01 | by ( ) www.reuters.com time to read: +11 min

10,000 tremors How Turkey has been rattled by aftershocks since the Feb. 6 earthquakeThousands of earthquakes struck southern Turkey in the weeks after a 7.8 magnitude earthquake on Feb. 6, killing more than 50,000 people in Turkey and northwest Syria. Chart shows about ten thousand earthquakes that have been recorded in southern Turkey since a 7.8 magnitude earthquake occurred on February 6. The Turkey quake also triggered a magnitude 7.5 earthquake that caused a separate rupture in the Earth’s surface, which in turn caused thousands of aftershocks. Domino effect Seismologists define aftershocks as temblors triggered by a large earthquake, close in time and location. Chart shows aftershocks that occurred in 24 hours after the 6.4 magnitude earthquake in southern Turkey within 30 kilometers around the city of Antakya.

[1/6] Godwin Nnamdi, 27-year-old fitness trainer and first-time voter, poses for a portrait at a gym in Lagos, Nigeria February 15, 2023. But his active social media campaign and promises to break with Nigeria's gerontocratic past have endeared him to many younger voters. The young and tech-savvy, first-time voters rallying around Obi call themselves the "Obi-dients" - a somewhat incongruous choice for an anti-establishment movement. The former banker has promised jobs, skills training and funding to young Nigerians, but so too have Tinubu and Atiku. If Obi loses, Ndukwe said he would join the wave of skilled Nigerians leaving the country in its perpetual brain drain.

☆ Aerospace and defense stocks took flight in 2022. What analysts expect for the sector in 2023
▼ + stars: | 2023-01-02 | by ( Samantha Subin | ) www.cnbc.com time to read: +5 min

Aerospace and defense stocks took off in 2022, outperforming the S & P 500 as a selloff trend pummeled growth and technology names. Through 2022, the aerospace and defense sub-industry within the S & P 500 rose 15.5%, while the broader index tumbled 19.4%. Here are some of the best-performing aerospace and defense stocks of 2022 and what the outlook looks like in the new year. The top-performing defense stock in the fourth quarter was Boeing , with shares up more than 57%. Raytheon Technologies rose more than 17% in 2022, and analysts are optimistic about the stock in 2023.

☆ ECB must be ready to take the heat and raise rates more, Schnabel says
▼ + stars: | 2022-12-24 | by ( ) www.reuters.com time to read: +1 min

FRANKFURT, Dec 24 (Reuters) - The European Central Bank must be prepared to take the heat and raise interest rates further, including by more than the market expects, if that is needed to bring down inflation, ECB policymaker Isabel Schnabel said in an interview published on Saturday. The ECB raised rates for a fourth straight time last week and hinted at further hikes - jolting euro zone bond markets and triggering a backlash from the Italian government. "Whether we will still need to go higher than that will depend on the future inflation outlook," she told German newspaper Frankfurter Allgemeine Zeitung. She added that the ECB will focus on medium-term inflation expectations, rather than current readings, and saw little risk of raising borrowing costs too far at present given that real interest rates are still very low. Schnabel said the ECB should weather the pressure.

☆ Sovereign bond market turmoil to spill well into next year: Reuters poll
▼ + stars: | 2022-10-24 | by ( Hari Kishan | ) www.reuters.com time to read: +4 min

BENGALURU (Reuters) - Turmoil in global sovereign bond markets is set to persist for another six months to a year as central banks carry on raising interest rates to bring down inflation, according to a Reuters poll of market strategists. Since the Fed first moved, bond markets have been subjected to high levels of volatility and deep sell-offs, jolting many bond investors out of their complacency. Bond Market Option Volatility Estimate Index, which began rising late last year, hit its highest level since March 2020 last week. But those median forecasts were higher than in September’s poll, suggesting yields are still facing upside risks. The poll expected bund yields to drop slightly from their current levels to 2.10% by end-2022 and then rise slightly to stay around 2.20% in the following six months.

☆ Morning Bid: After manic week, TGIF
▼ + stars: | 2022-09-23 | by ( ) www.reuters.com time to read: +2 min

Guest walk on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 22, 2022. REUTERS/Brendan McDermidRegister now for FREE unlimited access to Reuters.com RegisterA look at the day ahead in European and global markets from Anshuman DagaFriday is shaping up as a slow day. Equity markets are still licking their wounds, U.S. bond yields are at 11-year highs and the dollar is hovering near a two-decade peak. Register now for FREE unlimited access to Reuters.com RegisterStill, investors have probably had enough this week, with the Fed raising rates by 75 basis points as expected but jolting markets with a sobering outlook. read moreA host of central banks including the UK, Swiss and Norwegian raised interest rates this week, providing no signs that borrowing costs are nearing a peak.

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