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☆ Opinion | Chocolate Prices Have Spiked. Why Are Cocoa Farmers Still So Poor?
▼ + stars: | 2024-07-01 | by ( Peter Coy | ) www.nytimes.com time to read: +1 min

“I’m willing to do the job.” His literacy and English skills help him serve as a liaison between his fellow farmers and the government, which is the primary price-setter for cocoa beans in Ghana. The exorbitant prices paid for cocoa beans and chocolate products in the United States and other nations barely touch the lives of Frimpong and those around him. The poverty of cocoa farmers is sometimes seen as a moral failing of chocolate buyers or sellers, but above all it’s a market failure. In a healthy market, price spikes are self-correcting: When the price rises, production increases to take advantage of the extra profit opportunity. They don’t have the funds for long-term investment in new cacao trees, which are the source of cocoa beans, or for adequate fertilizers, pesticides, irrigation and labor-intensive pruning.

Persons: Emmanuel Frimpong, couldn’t, “ I’m, ” Locations: Ghana, United States, Frimpong, Ivory Coast

☆ Here are JPMorgan’s top stock picks heading into July
▼ + stars: | 2024-07-01 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +3 min

"Unwarranted discount versus peers given improved fundamentals and EBITDA/ FCF growth," JPMorgan wrote. JPMorgan's $2,400 price target implies the stock could rally nearly 43%. Bank of America also hiked its price target to $2,150 from $2,000, calling the stock one of its top picks . However, Analyst Matthew Boss' $157 price target means that the stock could climb 48% from here. Other stocks that made JPMorgan's list include industrials manufacturer Danaher , energy company Entergy and chemicals firm DuPont De Nemours .

Persons: BancShares, Harlan, Jefferies, JPMorgan's, Vivek Arya, PVH, Calvin Klein, Tommy Hilfiger —, Matthew Boss, Jay Sole, De Organizations: JPMorgan, Telecommunications, AT, Federal Reserve, Citizens, Broadcom, Bank of America, UBS, De Nemours Locations: Friday's

☆ Elon Musk gives a hint at just how much his AI chatbot cost to develop
▼ + stars: | 2024-07-01 | by ( Ana Altchek | ) www.businessinsider.com time to read: +3 min

Read previewElon Musk just hinted at how much it cost to make his AI chatbot Grok. Knowing how many H100 GPUs Musk is getting allows us to do some napkin math to figure out a rough estimate of the cost. Mark Zuckerberg said in January that Meta will have purchased about 350,000 Nvidia H100 GPUs by the end of 2024. Aravind Srinivas, founder and CEO of AI startup Perplexity, talked about getting turned down by a Meta AI researcher he was trying to poach in part because of Zuckerberg's huge collection of AI chips. 'Come back to me when you have 10,000 H100 GPUs,'" Srinivas said.

Persons: —, Elon, chatbot, Hopper, Musk, Nicolai Tangen, xAI, Mark Zuckerberg, Meta, Aravind Srinivas, Srinivas Organizations: Service, Business, Nvidia, Twitter, Meta Locations: Silicon Valley

So, let us show you where to watch a France vs. Belgium live stream for free, from anywhere. Actually, you can see the whole tournament for free, as shown in our guide on where to watch free Euro 2024 live streams. How to watch free France vs. Belgium live streams from anywhereWith a quick and easy workaround, you can catch all Euro 2024 action for free, including France vs. Belgium today. Where to watch France vs. Belgium in the USAFox/FS1 has the rights to all the remaining matches for Euro 2024 in the USA, including France vs. Belgium. Where to watch France vs. Belgium in SpainAll Euro 2024 matches can be seen for free on RTVE in Spain.

Persons: De, you'll, ExpressVPN, FS1, Fubo, That's Organizations: Business, BBC, ITV, Olympics, Wimbledon, USA Fox, Nations, Australia Optus Sport, Optus Locations: Belgium, France, Ireland, Spain, RTVE, RTE2, USA, Australia

☆ U.S. crude oil rises, tops $82 per barrel ahead of Fourth of July holiday
▼ + stars: | 2024-07-01 | by ( Spencer Kimball | ) www.cnbc.com time to read: 1 min

Crude oil storage tanks are seen in an aerial photograph at the Cushing oil hub in Cushing, Oklahoma, U.S., April 21, 2020. U.S. crude oil futures on Monday rose ahead of the Fourth of July holiday, after booking a 6% gain last month on the back of fears of a wider Middle East war and expectations of rising summer fuel demand. Though oil prices have been steadily rising, the average price for a gallon of gasoline stands at $3.49 nationwide, down about 5 cents from last month. Here are today's energy prices:Oil market speculators have added long positions, betting on higher prices as tensions between Israel and the Iran-backed Hezbollah militia in Lebanon have "proven to be a major driver of the strong price action of late," commodity strategists with TD Securities told clients in a note on Friday.

Organizations: Securities Locations: Cushing , Oklahoma, U.S, Israel, Iran, Lebanon

☆ Drawings by teenage Queen Victoria to go up for auction
▼ + stars: | 2024-07-01 | by ( Rosa Rahimi | ) edition.cnn.com time to read: +3 min

London CNN —A set of 19th-century drawings by a teenage Queen Victoria will be put up for auction in London next week. An ink drawing by Queen Victoria, titled "A seated woman with a crown and sash" and dated 1838, is inscribed "by Her Majesty." George Hayter also gave the Queen drawing lessons, and Russell believes these drawings show his influence “quite closely”. The auction house has previously sold other works by royal artists, including a painting by Queen Victoria’s daughter, Princess Victoria, which fetched £4,198 (around $5,320) last year. The Royal Collection Trust, which looks after the royal family’s art collection, has more than 4,000 works by Queen Victoria, spanning 64 years of her life.

Persons: Queen Victoria, Victoria, ”, Charlotte Russell ,, ” Russell, Roseberys, Princess Victoria, Valuers Russell, Augusta Hayter, George Hayter, Russell, King George IV, “ I’m, Queen Victoria’s, Prince Albert, Edwin Landseer, William Leighton Leitch, Franz Xaver Winterhalter Organizations: CNN’s Royal, London CNN, Old, CNN, Royal, Westminster Abbey, Collection Trust Locations: London, British, Sale, Roseberys, Victoria

☆ Airbus agrees to pay $1 for Spirit AeroSystems assets in deal sparked by Boeing 737 Max blowout
▼ + stars: | 2024-07-01 | by ( Pete Syme | ) www.businessinsider.com time to read: +1 min

Airbus has agreed to acquire assets of Spirit AeroSystems for $1. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAirbus has agreed to buy assets from a major aviation supplier for a symbolic $1 price tag, the planemaker announced Monday. Spirit AeroSystems, which was part of Boeing before being spun off in 2005, is being carved up following January's Alaska Airlines blowout. Boeing is paying $4.7 billion to buy back Spirit AeroSystems, the companies announced Monday.

Persons: —, AeroSystems Organizations: Airbus, Boeing, Alaska Airlines, Service, Business

☆ Four under-the-radar stocks to buy and hold for the second half: Portfolio manager
▼ + stars: | 2024-07-01 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +5 min

"The goal is to be able to hold these stocks for a while to benefit from the magic of compounding, which can take a long time." Calling it a "great company," the portfolio manager likes the size and scale of its operations and focus on acquisitions. Deere & Company Another company that Carey likes is Deere & Company , or John Deere. Stryker Another stock Carey is watching is medical technology player Stryker . "Stryker is a company that should capitalize on multi-decade trends, and that's where we want to be positioned," Carey added.

Persons: Christopher Carey, Carey, John Deere, Charles Schwab, Schwab, TD, Stryker Organizations: Nasdaq, Carnegie Investment, CNBC, Cintas, Deere, Company, Deere & Company, Charles, Charles Schwab Financial, Stryker Locations: U.S

☆ Kevin Costner mortgaged his home and put $38 million of his own money into "Horizon." Box-office numbers suggest this was a terrible idea.
▼ + stars: | 2024-07-01 | by ( Jason Guerrasio | ) www.businessinsider.com time to read: +7 min

Kevin Costner is the latest star to be reminded that passion projects don't always yield big box-office returns. Costner isn't as prominent in the 3-hour movie as marketing would suggestKevin Costner in "Horizon." AdvertisementDespite being the face of the franchise and its star, Kevin Costner isn't actually in a lot of "Horizon." And even though the next "Horizon" movie comes to theaters in August, who's to say audiences will come back? AdvertisementAccording to Variety, Costner and his investors are paying for the "Horizon" marketing, a spend that's around $30 million.

Persons: Kevin Costner, hasn't, Costner, Max, that's, Barbie, John Dutton, Costner isn't, Kevin Costner isn't, Hayes Ellison, who's, Richard Foreman, Warner, George Lucas, Mel Gibson's, —, Orson Welles, Francis Ford Coppola, It's Organizations: Service, Business, Paramount Network, Warner Bros, Paramount, CBS, Cannes Film, WB, Army, Variety Locations: Santa Barbara, Yellowstone, American, Utah, Texas , Arizona, Oklahoma

☆ The 5 states with the lowest average cost of gas — and the 5 with the highest
▼ + stars: | 2024-07-01 | by ( Talia Lakritz | ) www.businessinsider.com time to read: +1 min

The American Automobile Association tracks average gas prices in every state. Mississippi has the lowest gas prices with an average cost of $2.937 per gallon. California's gas prices are the highest in the US with an average cost of $4.794 per gallon. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . The COVID-19 pandemic caused the price of gas to fall to a national average of $2.258 per gallon in 2020.

Persons: — Organizations: American Automobile Association, Service, US Energy Information Administration, Business Locations: . Mississippi, Ukraine

☆ Bitcoin is about to clear a big overhang, and the crypto will recover from its slump to reach $150,000 by year-end, Fundstrat's Tom Lee says
▼ + stars: | 2024-07-01 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Bitcoin holders will see a huge appreciation in the coin by the end of the year. The crypto is on track to hit $150,000 as it clears an overhang created by Mount Gox repayments, Tom Lee said. Bitcoin has had a strong year so far, hitting a fresh record high before edging lower in recent weeks. AdvertisementBut the impact of repayments will fade, Lee suggested, forecasting another big rally to boost bitcoin through the rest of this year. "Bitcoin's probably suffering from the Mount Gox starting distributions in July.

Persons: Tom Lee, Bitcoin, —, Lee, Gox, Bitcoin's, bitcoin Organizations: Service, bitcoin, Mount, CNBC

☆ Goldman Sachs' Timothy Moe discusses upcoming U.S. election and impact on Asia stocks
▼ + stars: | 2024-07-01 | 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 EmailGoldman Sachs' Timothy Moe discusses upcoming U.S. election and impact on Asia stocksTimothy Moe of Goldman Sachs says we are likely to see very different asset price responses to various potential U.S. election results, which will drive up volatility for Asian stocks.

Persons: Goldman Sachs, Timothy Moe Locations: Asia

Morgan Stanley hiked its price target on Nvidia to $144, implying upside of 16.5%. It also lifted its 12-month price target to $167 from $143, corresponding to 22% upside. Analyst Krisztina Katai stood by her buy rating for the retail giant but upped her price target to $77 from $71. Analyst James Schneider assigned the stock a 12-month price target of $50, which corresponds to a 21% increase from its Friday closing price. — Lisa Kailai Han 5:47 a.m.: Morgan Stanley hikes its Nvidia price target Nvidia should continue rising as its next generation of chips arrives, according to Morgan Stanley.

Persons: Morgan Stanley, Goldman Sachs, Alexander Blostein, Blostein, Lisa Kailai Han, Krisztina Katai, Katai, — Lisa Kailai Han, James Schneider, Schneider, Moore, Joseph Moore, Blackwell, Hopper, Nvidia's, BIRK, ramping, Jay Sole, Fred Imbert Organizations: CNBC, Nvidia, UBS, Exchange, Intercontinental Exchange, Nat Gas, ICE's Energy, Nat, ICE, Deutsche Bank, Walmart Deutsche Bank, Walmart, Verizon, Birkenstock Locations: Friday's, Asia

After a lot of uncertainty over when, if ever, mortgage rates will fall, it's starting to look like rates may finally trend down in 2024. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates would impact your monthly payments. 30-Year Fixed Mortgage RatesThe average 30-year fixed mortgage rate was 6.86% last week, according to Freddie Mac. 15-Year Fixed Mortgage RatesLast week, average 15-year mortgage rates were 6.16%, a three-basis-point increase from the previous week, according to Freddie Mac data. Once the Fed cuts rates, mortgage rates should fall even further.

Persons: it's, you'll, Freddie Mac Organizations: Federal Reserve, Zillow Locations: Chevron

☆ The 5 red flags a Michelin-starred chef looks out for when dining at a high-end Italian restaurant
▼ + stars: | 2024-07-01 | by ( Rachel Askinasi | ) www.businessinsider.com time to read: +6 min

Read previewStefano Secchi, chef and owner of Rezdôra in New York, has many opinions when it comes to what differentiates a high-end Italian restaurant from a gimmick. It's never a good sign when a restaurant is serving out-of-season ingredientsCaprese isn't always in season. If the classics aren't prepared and labeled properly, the restaurant is a hard sell for SecchiA good Italian restaurant wouldn't drown its pasta in sauce or butter. But it's a good sign if the oil is bursting with really rich and complex flavors and fragrances. A quality Italian restaurant should have a proper coffee serviceCoffee service is often the last chance for a restaurant to leave diners with a good impression.

Persons: —, Stefano Secchi, Secchi, It's, you've, balsamic, She's, she's, Mats Silvan, he'd, it's, Alfredo, carbonara, Feifei Cui Organizations: Service, Michelin, Business, fugazi, Staff Locations: New York, Italy

☆ Fast-growing buffer funds could help investors hedge election risks
▼ + stars: | 2024-07-01 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +5 min

These ETFs, often called "buffer funds," use options to give investors downside protection in exchange for giving up potential upside. The funds come with different time horizons, and new funds are launching or resetting every month, so there are several options for investors to buy now and protect themselves through the November election. Many of the ETFs offer something in the range of 10% to 30% downside protection and are often called buffer funds. Other products that offer 100% downside protection — in exchange for smaller upside — are sometimes marketed as "principal protection funds." Jim Saulnier, a CFP and founder of Jim Saulnier & Associates in Fort Collins, Colorado, said his clients use both the buffer funds and the 100% downside protection funds.

Persons: Bruce Bond, Matt Kaufman, Jim Saulnier, Saulnier, Bond, there's, Matt Thompson, Thompson, Kaufman Organizations: U.S, JPMorgan, Capital Management, Calamos Investments, Jim Saulnier & Associates, Little Harbor Advisors Locations: Fort Collins , Colorado, iShares

☆ I compared Sol de Janeiro's $48 Brazilian Bum Bum Cream to the Costco dupe. The latter is ⅓ of the price, and I prefer it.
▼ + stars: | 2024-07-01 | by ( Meredith Schneider | ) www.businessinsider.com time to read: +1 min

I compared Sol de Janeiro's $48 Brazilian Bum Bum Cream with Nutrius' $22 dupe sold at Costco. The Nutrius brand from Costco was budget-friendly and more comfortable for all-day wear. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementSol de Janeiro has built its identity around its famous Brazilian Bum Bum Cream, which claims to firm and tighten skin over time. This story is available exclusively to Business Insider subscribers.

Persons: Sol, Janeiro's, —, Heela Yang Organizations: Costco, Service, Business Locations: Janeiro

☆ McDonald's $5 meal may lead to higher sales and stock price, history of value offerings shows
▼ + stars: | 2024-07-01 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

McDonald's $5 value meal offering could provide a turnaround for the struggling stock, according to Wells Fargo. "Historically, MCD wins when the industry shifts to value," Fadem wrote in a note released Monday. McDonald's competitors took a hit after the company launched the dollar menu — and took back some share after McDonald's removed the Dollar menu, he added. Fadem forecasts the $5 value meal could provide a tailwind of 50 to 100 basis points for McDonalds U.S. comparable same-store sales. Wells Fargo has an overweight rating and $300 price target on shares, implying about 18% upside from Friday's close.

Persons: Wells Fargo, Wells, Zachary Fadem, McDonald's, Fadem, — CNBC's Michael Bloom Organizations: CNBC, McDonalds U.S Locations: Wells Fargo, U.S

☆ This scenic town in Sweden is selling cheap land to get people to move there: 'We can bring you a high quality of life,' mayor says
▼ + stars: | 2024-07-01 | by ( Celia Fernandez | ) www.cnbc.com time to read: +1 min

Götene, about 200 miles from Stockholm, is selling plots of land starting at 1 krona per square meter or nine US cents per 10 square feet. Buyers must build a home on the land with plans to either live there permanently or use it as a vacation property, according to CNN. The plots being put up for sale had been on the market for many years, Månsson said. Since the town launched the scheme in May, it has received thousands of requests and the government has decided to pause buying until early August so they can fine-tune the process. CNN reports that when Götene starts selling off land again, it is likely there will be a bidding process instead of just selling the plots at that low price of 1 krona per square meter.

Persons: Johan Månsson, Månsson, Götene Organizations: CNN, Götene's Locations: Stockholm

☆ Tesla shares to get hit this quarter on lower demand and margins, predicts Wells Fargo
▼ + stars: | 2024-07-01 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

Tesla shares are likely to take a hit in the third quarter as the company's strategy of boosting sales by slashing prices loses steam, according to Wells Fargo. TSLA YTD line Tesla Wells Fargo has an underweight investment opinion on Tesla and a price target of $120 per share, implying nearly 40% downside from Friday's close of $197.88. has plateaued, and Tesla faces aggressive competition in China from companies such as BYD, leaving "little immediate levers to pull to increase volumes," the Wells Fargo analysts said. The research team is also worried about the demand and profit margins for Tesla's smaller, mass-market Model 2. "We are cautious on margins given likelihood of more price cuts & lower volumes," the Wells analysts said.

Persons: Colin Langan, TSLA, Tesla Organizations: U.S . Electric, Wells Locations: Wells Fargo, EU, China, U.S

☆ A market hedge if this atypical election run-up causes an S&P 500 correction
▼ + stars: | 2024-07-01 | by ( Michael Khouw | ) www.cnbc.com time to read: +4 min

The S & P 500 has yielded an average return of 7.9% since 1928, the year Herbert Hoover was elected. LBJ's presidency was also notable because he chose not to seek reelection in 1968, a year with a modest S & P return of 7.7%. A market correction could be more likely now than it seemed two weeks ago, as suggested by the current pricing of S & P options. Options such as SPDR S & P 500 ETF Trust (SPY) August $535 puts are currently priced around $5.50, about 1% of SPY's price, while S & P 500 5350 puts are around $50. SPY YTD mountain SPDR S & P 500 ETF Trust If a correction does occur, investors could monetize, roll, or spread the hedge.

Persons: Herbert Hoover, Hoover, Carter, George H.W, George H.W . Bush, LBJ's, Trump Organizations: Trump, JFK, FDR, Nvidia, Trust, Democratic National Convention, CNBC, NBC UNIVERSAL Locations: George H.W .

☆ This electric car battery takes less than 5 minutes to charge
▼ + stars: | 2024-07-01 | by ( Olesya Dmitracova | ) edition.cnn.com time to read: +5 min

London CNN —A British startup may have found the answer to one of the frustrations of driving an electric car — waiting around for the battery to charge. That is much faster than the 20 minutes or so it currently takes some electric cars using a fast charger, such as a Tesla (TSLA) Supercharger. Nyobolt’s battery is compatible with a Supercharger, the startup told CNN. “This is many multiples higher than the warranties of much larger EV batteries on the road today,” it noted. In addition, there are currently “a lot of unknowns” with the niobium battery technology, he told CNN.

Persons: London CNN —, ” Nyobolt’s, Sai Shivareddy, “, Clare Grey, Shivareddy, Paul Marchment, Jack Evans, Tesla, ” Shivareddy, Nyobolt, William Kephart, it’s Organizations: London CNN, University of Cambridge, EV, BNP, Blackball Media, CNN, European Union, American, P3 Group Locations: British, Cambridge, United States, Europe, North America

☆ Boost returns in your 60/40 portfolio with 'the magnificent others,' AllianceBernstein says
▼ + stars: | 2024-07-01 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

Investors seeking to boost returns in their 60/40 portfolio should look to what AllianceBernstein calls "the magnificent others." "If you're finding companies that are giving you dividend growth rates of anywhere say from 10% to 12%, well north of inflation, that has a nice compounding effect," he said. What makes these dividend-paying stocks appealing is that free cash flow is expected to grow roughly 7% over the next five to six years, he said. Instead, investors should focus on companies that have free cash flow, a strong balance sheet and are competitively positioned, he said. Within dividend-paying names, Czaicki sees three specific areas of opportunity: energy transition and security, supply chain security, and national defense and cybersecurity.

Persons: Walt Czaicki, Czaicki, They're Organizations: Federal Reserve, Tech, Income

☆ Tesla is about to embark on a 2nd half rally as the company's comeback story is starting, Wedbush's Dan Ives says
▼ + stars: | 2024-07-01 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Tesla stock is set for big upside in the second half of 2024, Wedbush predicted. That's because the carmaker is finally a turnaround in weak demand from China, Dan Ives said. But those headwinds are easing, particularly as things begin to stabilize in China, Ives said. The release could represent a major turning point for Tesla stock, Ives said, previously calling the robotaxi a "magic model" for the company. I believe this is a stock that's going to have a massive run second-half of the year."

Persons: Wedbush, Dan Ives, Ives, —, Wedbush's Dan Ives, Tesla, Elon, that's, Trump, Joe Biden, Musk, Wells Organizations: Service, CNBC Locations: China

Let us show you where to watch a free England vs. Slovakia live stream and you can see for yourself. Actually, you can see the whole tournament for free, as shown in our guide on where to watch Euro 2024 live streams for free. How to watch free England vs. Slovakia live streams from anywhereWith a quick and easy workaround, you can catch all Euro 2024 action for free, including England vs. Slovakia today. Where to watch England vs. Slovakia in the USAFox/FS1 has the rights to all the remaining matches for Euro 2024 in the USA, including England vs. Slovakia. ITV specifically has the free England vs. Slovakia live stream today.

Persons: you'll, ExpressVPN, FS1, Fubo, That's Organizations: Business, Belgium, BBC, ITV, Olympics, Wimbledon, England, USA Fox, Nations, Australia Optus Sport, Optus Locations: Slovakia, England, Ireland, USA, Australia

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