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☆ It's showtime for Apple, and we're expecting news on its AI plans and a big partnership
▼ + stars: | 2024-06-10 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, we're giving a preview of what to expect at Apple's annual event . The big storyApple's AI unveilingApple CEO Tim Cook at the Worldwide Developers Conference in 2023. Josh Edelson/AFP Getty ImagesApple kicks off its big event today from a unique spot: behind. AdvertisementBut when CEO Tim Cook takes the stage for his keynote address this afternoon, it'll be about catching up with Apple's fellow Big Tech peers. It wouldn't be the first time Apple announced a deal with a fellow tech company that has massive implications , writes BI's Hasan Chowdhury.

Persons: —, Larry Connor, Tim Cook, Josh Edelson, Insider's Jordan Hart, BI's Hasan Chowdhury, Monica Schipper, Nordin Catic, Tyler Le, Sam Altman, OpenAI, Apple, Satya Nadella, Altman, Alyssa Powell, Chelsea Jia Feng, Andrii Sedykh, Javier Zayas, Abanti Chowdhury, They're, Gen, isn't, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover, Annie Smith Organizations: Service, Business, showtime, Apple, Worldwide, Developers, Big Tech, Google, Microsoft, Getty, Getty Images, Taiwan Semiconductor Manufacturing Company, Amazon Locations: India, Mexico, Burazin, New York, London

☆ Not all plant-based foods are equal. This type can raise the risk of heart attack and early death
▼ + stars: | 2024-06-10 | by ( Sandee Lamotte | ) edition.cnn.com time to read: +5 min

That information was later linked to hospital and mortality records on the development of cardiovascular risk factors. Ultraprocessed foods made from plants increased the risk of cardiovascular disease by 5% while increasing the risk of early death by 13%, the study found. “Plant-based meat alternatives make up only 0.5% of all the plant-based ultraprocessed foods included in this paper,” Scarborough said in a statement. Over half of the plant-based ultraprocessed foods studied in the paper were packaged breads, pastries, buns, cakes and cookies. Many ultraprocessed foods are plant-based, but that does not make them healthy, experts say.

Persons: Duane Mellor, ” Mellor, ”, Renata Levy, University of São Paulo, Fernanda Rauber, ” Rauber, Peter Scarborough, ” Scarborough, Tom Sanders Organizations: CNN, Aston Medical School, Nutrition, Health, University of São, Nupens, University of Oxford, “, King’s College London Locations: Birmingham, United Kingdom, Brazil, Europe, England, Scotland, Wales

☆ A week with Canada and Jesse Marsch: No days off, hunting in packs and what it means to be Canadian
▼ + stars: | 2024-06-10 | by ( Tim Spiers | ) www.nytimes.com time to read: +17 min

Canada couldn’t beat Guadeloupe or Guatemala last summer, then lost to Jamaica and confidence has pretty much hit rock bottom. The Athletic followed Marsch and Canada to Rotterdam and Bordeaux to find out. In the 15 months he has been out of the game, Marsch has taken time to choose his next job. “There’s a long way to go.”GO DEEPER The Jesse Marsch debate: Underrated Premier League-level manager or master of failing up? Well, for a start, Canada do have a number of talented players to build a team around.

Persons: John Herdman, Alphonso Davies, Herdman, Jesse Marsch, It’s Marsch’s, you’d, Stephen Eustaquio, Georginio Wijnaldum, Dean Mouhtaropoulos, Cyle, Virgil van Dijk, Marsch, Marcelo Bielsa, George Wood, San, “ We’re, ”, “, can’t, Davies, Jonathan David, Tajon Buchanan, Ismael Kone, Jacob Shaffelburg, Erling Haaland, Martin Odegaard, Koen van Weel, Buchanan, David, ” Davies, ” Marsch, It’s, Ralf Rangnick, “ He’s, Alistair Johnston, ” Eustaquio, Kompany, they’re, Preston’s Liam Millar, William Saliba, Maxime Crepeau, Kylian Mbappe, Liam Millar, France’s N’Golo Kante, Franck Fife, “ That’s, Johnston, we’ve, ” Johnston, They’ve, Rene Nijhuis Organizations: The Athletic, Copa, Canada couldn’t, Leeds United, Copa America, Argentina, U.S, Championship, The, Leeds, Poland, Porto, New York Red Bulls, Red Bull Salzburg, Austrian, RB Leipzig, Premier League, Southampton, MLS Canada Men’s, MLS, Montreal, Toronto FC, Vancouver Whitecaps, UEFA, Canada, Bayern Munich, Real Madrid, Bernabeu, Champions League, Lille, League, Serie, Inter Milan, Watford, Getty, Marsch, —, ”, Bayern Canada, France Locations: Netherlands, France, Argentina, Canada, Qatar, Guadeloupe, Guatemala, Jamaica, Europe, Copa, U.S, Mexico, Marsch, Rotterdam, Bordeaux, Dutch, Leicester, South Korea, Chile, Peru, San Marino, Cook, Canadian, Eustaquio, Nashville, Norway, Munich, Milan, Lille, Mallorca, Austria, It’s, AFP, Atlanta

☆ Losing my dog was the hardest thing ever. But I'm grateful for the time we got together.
▼ + stars: | 2024-06-09 | by ( Alyshia Hull | ) www.businessinsider.com time to read: +6 min

Read previewMy morning routine was simple: wake up, get dressed, let my dog out, and pour our breakfasts. And although I wanted to cling to hope, my dog was dying, and I knew I couldn't let him suffer. Since losing him, I realized pet loss feels like losing a family member; that's true, but it begins before then. AdvertisementFor me, grieving Taco didn't start when he died or when the vet said he was terminal. It started when I realized the miracle I was begging for, "please save my dog," was never coming.

Persons: —, Taco, couldn't, Lyme nephritis, he'd, I'd, Taco didn't Organizations: Service, Business

☆ America's Economic Plan Will Hurt World Economy, Global Stock Markets
▼ + stars: | 2024-06-09 | by ( Linette Lopez | ) www.businessinsider.com time to read: +11 min

The European Central Bank began easing interest rates on Thursday, cutting its benchmark rate by 0.25%. Investors and economists expect the Federal Reserve to follow suit and cut interest rates in September. This combination means there's a good chance that the September cut Wall Street is praying for may never materialize. The US already has somewhat higher interest rates than other countries — the Fed's benchmark rate is 5.25%- 5.50%. And in Asian economies, where interest rates are already significantly lower than in the US, things could get even messier.

Persons: Tamara, Vasiljev, Peter Schaffrik, Nigel Green, Green, we're Organizations: European Central Bank, Investors, Federal Reserve, Oxford Economics, JPMorgan, UBS, Bloomberg, of International Finance, Markets, RBC Capital Markets, deVere, Fed, We're, ECB, Bank of, EU, Bank of Canada, Bank of Canada's, Bank of England Locations: stagflation, China, Europe, Japan, South Korea, It's, America, United States, EU, Bank of England, Canada, East Asia

☆ Edmundo Gonzalez Urrutia: Meet the quiet, bird-loving grandfather taking on strongman Maduro in Venezuela’s election
▼ + stars: | 2024-06-08 | by ( Stefano Pozzebon | ) edition.cnn.com time to read: +10 min

But most analysts agree Gonzalez represents the best chance that Venezuela’s political opposition has had to dislodge Maduro from power since 2013. But amnesty for outgoing officials could be on the table, Gonzalez told CNN en Español. “Edmundo is a public servant, he knows there cannot be any revenge [against the government],” Eickhoff told CNN. Edmundo Gonzalez Urrutia, Venezuela's new opposition candidate, feeds birds at his home in Caracas on Wednesday, April 24. “It’s time for the big Venezuelan family to come together once more,” he told CNN en Español.

Persons: Hugo Chavez, Nicolas Maduro, Edmundo Gonzalez Urrutia, Gonzalez, – Maria Corina Machado, Corina Yoris –, “, ”, Maduro, Leonardo Fernandez Viloria, Reuters Gonzalez, he’s, CNN En, Juan Guaido, ” Gonzalez, ” Gonzalez’s, Mariana, –, Jesus Vargas, won’t, Sadio Garavini, Tullio, Chavez, “ Edmundo, he’ll, ” Garavini, George Eickhoff, Konrad Adenauer, ” Eickhoff, Machado, Edmundo, Gaby Oraa, Venezuela's, Gonzalez’s Organizations: CNN, Democratic, Maduro, European Union, Reuters, “, Wednesday, Bloomberg, Getty, Real Madrid football Locations: Venezuela, Venezuela’s, Venezuelan, Algeria, Argentina, United States, Barbados, Washington, Caracas, Hague, German, Spain

☆ India elections: Modi and his Hindu nationalist BJP have another five years in power. What does it mean for the world?
▼ + stars: | 2024-06-08 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +8 min

CNN —Narendra Modi has raised India’s stature on the global stage like no other recent leader of the world’s most populous country. But the election results also place Modi in a radically different position from the one he enjoyed during his first decade in power. Now, Modi’s BJP will need to answer the interests of its coalition allies – and face stronger checks from a resurgent opposition, which could dampen its Hindu-nationalist agenda. In the meantime, some observers suggest that while the election results may not have boosted Modi, they are already a boon for India’s global clout. “India coming back as a proper democracy is good for the world order in many senses,” he added.

Persons: CNN — Narendra Modi, –, Modi, ”, T.V, Paul, “, Nehru, ” Modi, Joe Biden, Pete Marovich, that’s, Washington, Farwa Aamer, assertiveness –, Justin Trudeau, Nasir Kachroo, Pakistan –, Sushant Singh, Fahd Humayun, India’s Organizations: CNN, Bharatiya Janata Party, BJP, Reuters, Japan, South Asia, Asia Society Policy, Modi . Canadian, Canadian, Yale University, Indian, Tufts University, ”, McGill University Locations: India, Delhi, United States, China, Pakistan, Australia, New York, New Delhi, Washington, Russia, Canada, Indian, American, Jammu, Kashmir, Modi’s BJP, BJP, Islamabad

☆ Teddy Roosevelt: A major reevaluation of the most masculine president
▼ + stars: | 2024-06-08 | by ( Zachary B. Wolf | ) edition.cnn.com time to read: +13 min

O’KEEFE: “The Loves of Theodore Roosevelt” argues that the most masculine president in the American memory is actually the product of unsung and extraordinary women. Theodore Roosevelt with his second wife, Edith Carow Roosevelt, and his first five children in the mid-1890s. I had this fascinating conversation with Connie Roosevelt, who is the wife of Theodore Roosevelt IV (Teddy’s great-grandson). I love Robin Williams and the depiction in “Night at the Museum,” but that’s a cartoon of Theodore Roosevelt. Theodore Roosevelt, like his distant cousin Franklin Roosevelt, was considered a traitor to his class.

Persons: CNN — Theodore Roosevelt, Roosevelt, ”, Theodore Roosevelt, Edward O’Keefe, Buyenlarge, Theodore Roosevelt ”, Mount Rushmore, Anna, Corinne, Alice, Mittie, Martha, Edith Carow Roosevelt, Connie Roosevelt, Theodore Roosevelt IV, Connie, “, that’s, didn’t, Robin Williams, who’s, WOLF, he’s, Horatio Alger, Franklin Roosevelt, Politics, Theodore Sr, Biden WOLF, Joe Biden, There’s, Josh Hawley, —, I’ve, Edith, He’s, Kristi Noem, they’ve, Josiah, Emily, Theodore Roosevelt’s Organizations: CNN, Republican Party, Theodore Roosevelt Presidential Library Foundation, Roosevelt, Rough Riders, FPG, National Parks Conservation Association, Museum, of Congress, North Dakota —, Senate, South Dakota Gov, White Locations: North Dakota, Mount, Cuba, ”, Africa, Europe, America, Missouri, Dakota, South Dakota, New York, Sagamore, Oyster

☆ Stock market heads into the week ahead at a record, but with some uneasiness underneath the surface
▼ + stars: | 2024-06-08 | by ( Michael Santoli | ) www.cnbc.com time to read: +8 min

The S & P 500 made a new record high, its 25 th of the year. And on the surface, there is a stolid calm that suggests a system in comfortable equilibrium, the market achieving a kind of homeostasis. Four of the past five days last week, the S & P 500 moved less than 0.2%. The S & P 500 is up almost 2% since its closing peak at the end of the first quarter, perhaps the moment of maximum belief in a seamless soft economic landing. Three stocks together now account for fully 20% of the S & P 500 market value, mocking the notion of diversification and dashing most active investors' hopes of beating the bogey.

Persons: Keith Gill, Michael Mauboussin, Scott Chronert Organizations: Nvidia, GameStop, Apple, Microsoft, Federal Reserve, Investment, Morgan Stanley Investment Management, Fed, Citi, CPI Locations: rebalancing, U.S

☆ US economy added a whopping 272,000 jobs in May
▼ + stars: | 2024-06-07 | by ( Alicia Wallace | ) edition.cnn.com time to read: +7 min

At a time when Americans and the Federal Reserve are clamoring for clear-cut data about the state and trajectory of the economy, Friday’s jobs report was much more opaque than everyone had hoped. Employment fell in the household survey, while unemployment increased to just shy of 6.5 million and pushing the unemployment rate to the threshold of 4%. Service-providing industries accounted for the bulk of the month’s job gains, with health care and social assistance continuing to lead the way, with 83,500 jobs added. “Don’t get overly spooked by the rise in the unemployment rate,” Bunker wrote. “The labor market is still gliding toward a soft landing.”

Persons: ” Dean Baker, “, I’ve, Diane Swonk, ”, Wall, Chris Rupkey, FwdBonds, CEPR’s Baker, ” Baker, ” Thomas Simons, Jeffries, Nick Bunker, Bunker, “ Don’t, ” Bunker Organizations: CNN, Federal Reserve, Center for Economic, Policy Research, of Labor Statistics, KPMG, That’s, Index, Traders, BLS, Service, North America

☆ 6 tips from Satya Nadella on how to run a company and manage your team
▼ + stars: | 2024-06-06 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +4 min

You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. His leadership has been credited with revitalizing the company's culture, driving growth in partnerships, and even guiding the company in dethroning Apple as the world's most valuable public company earlier this year. Deliver successA leader must also be able to "create success in what is an overconstrained space," he says. "Life is an overconstraint problem," he said in the magazine interview.

Persons: —, Nadella, I'm, it's, Axel Springer, Mathias Döpfner Organizations: Service, Microsoft, Apple, Business, Chicago Booth Magazine, Wall Street, Work Conference

☆ U.C. Berkeley’s Leader, a Free Speech Champion, Has Advice for Today’s Students: Tone It Down
▼ + stars: | 2024-06-06 | by ( Kurt Streeter | ) www.nytimes.com time to read: +1 min

Waves of boos, angry chants and the steady rhythm of feet pounding on metal seats were upending the graduation ceremony at the University of California, Berkeley. “Viva, viva Palestina!” students sang out. “Hey, hey, ho, ho, Israel’s apartheid has got to go!”It was the soundtrack of this year’s antiwar protest, voiced on the morning of May 11 by hundreds of cap-and-gowned graduates, loud enough to nearly drown out the ceremony’s official speakers — and force the event to halt. It looked like Berkeley’s 2024 commencement was about to be canceled midstream. Once it was over and most had left the school’s low-slung football stadium, Berkeley’s chancellor, Carol Christ, sat near the podium in a folding chair.

Persons: Carol Christ Organizations: University of California Locations: Berkeley

☆ SpaceX’s Starship launches for a fourth time
▼ + stars: | 2024-06-06 | by ( Ashley Strickland | Jackie Wattles | ) edition.cnn.com time to read: +7 min

CNN —SpaceX’s Starship, the most powerful launch vehicle ever built has lifted off on its fourth flight test on Thursday. The flight test comes two days after the Federal Aviation Administration, which licenses commercial rocket launches, gave SpaceX its approval. “The fourth flight of Starship will aim to bring us closer to the rapidly reusable future on the horizon,” according to SpaceX. After the explosive first and second Starship test flights, the company immediately sought to frame these mishaps as successes. But both the Starship spacecraft and booster made it farther into flight than the two previous tests in 2023.

Persons: CNN — SpaceX’s, “, “ We’re, Chandan Khanna, Elon Musk, Topping, Artemis —, Artemis Organizations: CNN, SpaceX, Federal Aviation Administration, NASA’s, Program, Boeing, NASA, International Space, Super, Getty Locations: Boca Chica , Texas, Gulf, Mexico, United States, China

☆ We're on track for a soft economic landing, but it still feels like the economy stinks
▼ + stars: | 2024-06-06 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

In today's big story, we're looking at why the US economy is on track (again) for a soft economic landing . The big storyAnother economic turnaroundGetty Images; Chelsea Jia Feng/BIIt took longer than expected, but the US economy is finally on track for a soft landing. After a scary few months of economic data that had investors fearing a recession and stagflation, the tides have turned again. AdvertisementRecent data showing inflation and the labor market cooling have given hope that a soft landing is in the cards — and may even be underway — for the US economy, writes Business Insider's Madison Hoff. AdvertisementThe US economy is about to make a soft landing — a situation in which inflation cools without causing a recession or sudden spike in unemployment.

Persons: —, Chelsea Jia Feng, Insider's Madison Hoff, Arantza Pena Popo, bummed, it's, aren't, Johannes Eisele, Monica Schipper, Nordin Catic, Tyler Le Tim Cook, Cook, Jack Dorsey, Dorsey, Abanti Chowdhury, Sam Altman's, Dan DeFrancesco, Jordan Parker Erb, Jack Sommers, George Glover, Annie Smith Organizations: Service, shoplifters, Business, Fed, Johannes, Getty, OpenAI, Apple, BI, Street Journal, Comcast, New York Stock Exchange Locations: AFP, New York, London

☆ SpaceX launches fourth Starship test flight
▼ + stars: | 2024-06-06 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +3 min

SpaceX launched a fourth test flight of its Starship rocket on Thursday, as the company looks to push development of the mammoth vehicle past new milestones. Cheney Orr | ReutersSpaceX has flown the full Starship rocket system on three spaceflight tests previously, with launches in April 2023, November and March. Each of the test flights have achieved more milestones than the last, but each result destroyed the rocket before the flight's end. SpaceX will be looking to surpass the third test flight's milestones. "The primary objectives will be executing a landing burn and soft splashdown in the Gulf of Mexico with the Super Heavy booster, and achieving a controlled entry of Starship," SpaceX wrote.

Persons: Elon, SpaceX's, Cheney Orr, we've, Joe Skipper, it's Organizations: SpaceX, Elon Musk's, Boca Chica, Reuters SpaceX, NASA, Reuters, Super Locations: Boca Chica , Texas, Gulf of Mexico, Brownsville , Texas, U.S, Gulf, Mexico

☆ Trading the jobs report: Where JPMorgan sees the market going based on these scenarios
▼ + stars: | 2024-06-06 | by ( Fred Imbert | ) www.cnbc.com time to read: +3 min

On top of that, the S & P 500 is trading at record levels thanks in large measure to the unrelenting momentum in Nvidia. Hot jobs growth + weaker-than-expected wage growth: The S & P 500 would advance 0.25% to 0.75% in this event, the traders said. In-line jobs growth + strong wage growth: This outcome indicates inflation persists given tight labor market conditions. Disappointing jobs growth + hotter-than-expected wage expansion: JPMorgan traders think this would be the worst outcome for market bulls, with the S & P 500 losing 1.25%-2%. JPMorgan expects the S & P 500 to rise, or fall, as much as 0.25%.

Persons: Dow Jones, stagflation Organizations: Federal Reserve, Nvidia, JPMorgan Locations: U.S

☆ This 'quasi monopoly' chip stock will drive AI trend for the next decade, says fund manager
▼ + stars: | 2024-06-06 | by ( Ganesh Rao | ) www.cnbc.com time to read: +4 min

European chip stock ASML "is almost in a quasi-monopoly position" to drive developments in artificial intelligence over the next decade, according to fund manager Marcus Morris-Eyton. Its customers include TSMC , which makes the AI chips designed by Nvidia , AMD and Intel , as well as Samsung and SK Hynix . Shares fell by 7% on the day as the company provided what analysts labeled "soft" guidance for the current quarter. Earlier this week, the company opened a test laboratory for its next-generation lithography equipment with Belgium chip research firm Imec. "Ultimately, if you need AI, if you need [electric vehicles], if you need data centers, you need more chips," Morris-Eyton added.

Persons: Marcus Morris, that's, ASML, It's, Francois, Xavier Bouvignies, Tammy Qiu, Didier Scemama, Marie Ganneval, Eyton, Morris Organizations: Nvidia, AMD, Intel, Samsung, SK Hynix, U.S, Infineon, BE Semiconductor, Wall Street, UBS, of America, AllianceBernstein's, ASML, CNBC Locations: United States, TSMC, Belgium, Veldhoven, Netherlands, ASML

☆ The low-end consumer 'is really being stretched,' says Five Below CEO
▼ + stars: | 2024-06-06 | by ( Sean Conlon | ) www.cnbc.com time to read: +2 min

"The lower-end customer is really being stretched," Anderson said on an earnings call with analysts Wednesday. "We've got to deliver value, and we've got to really display that in how we go to market, and when you walk in the store, what you see. This, he said, indicates that when consumers see the value of products, the more they have to "stretch their dollar." Though there has been some indication that aspects of the U.S. economy are improving, consumer sentiment has been lagging. In fact, consumer sentiment dropped more than 10% in May, according to the University of Michigan Survey of Consumers.

Persons: Joel Anderson, underperformance, Anderson, We've, we've, — Organizations: Revenue, Consumers, University of Michigan Survey Locations: U.S

☆ Why Friday’s jobs report could be one for the record books
▼ + stars: | 2024-06-06 | by ( Alicia Wallace | ) edition.cnn.com time to read: +7 min

CNN —The US job market showed a softer side in April when just 175,000 jobs were added, marking one of the weakest months in the past three years. It was also well shy of economists’ expectations (for 235,000 jobs added) and sharply lower than the 315,000 net gain for March. A separate report released Thursday showed that fewer job cuts were announced in May than both the month and year before. Foreign-born workers: In addition to high labor force participation rates among prime working age individuals, specifically prime working-age women, the US labor market is benefiting from a boom in immigrant workers. Some of these workforce moves typically come at the end of the school year, meaning the May jobs report and June report could show the effects.

Persons: It’s, we’ve, Elizabeth Crofoot, ”, aren’t, Crofoot, Dean Baker, that’s, Julia Pollak, “, ” Andrew Challenger, Ryan Sweet, CEPR’s Dean Baker Organizations: CNN, Bureau of Labor Statistics, Federal Reserve, BLS, Center for Economic, Policy Research, “ Employers, Department of Labor, Challenger, Secondary School Emergency, Oxford Economics Locations: State

☆ Five Below bought so many Squishmallows that it hurt the discount company's bottom line
▼ + stars: | 2024-06-06 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +1 min

Five Below's sales were hurt due to overstock of Squishmallows and price-sensitive customers. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementFive Below said its sales were hurt this quarter because it bought far more Squishmallows than its customers wanted. The popular soft toys went viral in the years after their 2017 launch, becoming "Gen Z's Beanie Babies," Business Insider reported in 2020. On Wednesday, Five Below cut its forecasts for the year because of price-sensitive customers who are prioritizing buying food, candy, and drinks over Squishmallows.

Persons: —, Joel Anderson Organizations: Service, Business

☆ See Elon Musk's Starship shredding apart as it descends to Earth, with a whole fin almost ripping off
▼ + stars: | 2024-06-06 | by ( Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +5 min

However, the spacecraft was visibly falling apart on SpaceX's livestream as it screamed through Earth's atmosphere. Falling back to Earth is extremely intenseA screengrab from SpaceX's livestream shows the fin at the beginning of Starship's fall, before it shredded. A screengrab from SpaceX's livestream of the June 6, 2024 launch shows Starship sitting atop its Super Heavy booster on the launchpad. The Super Heavy booster also practiced and successfully achieved its first soft water landing, after it separated from Starship on Thursday. SpaceX reaches a major new milestone with landing its Super Heavy booster in the Gulf of Mexico.

Persons: —, Elon Musk's, SpaceX's livestream, livestream, Musk Organizations: Service, Business, SpaceX Viewers, SpaceX, Starship, Super Locations: Elon, SpaceX's, Gulf of Mexico, Mars

☆ 3 catalysts could spark a 10% sell-off in the stock market this summer, according to JPMorgan
▼ + stars: | 2024-06-06 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

The May jobs report could spark a bearish narrative change in the stock market. AdvertisementA 10% sell-off in the stock market is possible this summer after a massive year-to-date rally, according to JPMorgan. "The combination of earnings season stock performance and narrowing market breadth points to a market that needs a new set of catalysts and/or reassurance about the prevailing market narrative," JPMorgan said. "Momentum unwind"The bulk of the stock market's recent gains have been driven by momentum, with tech stocks leading the advance. AdvertisementJPMorgan said a jobs report below 50,000 to 75,000 range or above the 250,000 to 300,000 range could spark a narrative change and hurt stock prices.

Persons: — Organizations: JPMorgan, Service

☆ Starship lands in the ocean with its engines firing for the first time, bringing Elon Musk one step closer to Mars
▼ + stars: | 2024-06-06 | by ( Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +6 min

Super Heavy landed in the Gulf of Mexico minutes after lift-off. A screengrab from SpaceX's livestream of the June 6, 2024 launch shows Starship sitting atop its Super Heavy booster on the launchpad. One of the engines on SpaceX's Super Heavy booster was not lit during its fourth launch. SpaceX reaches a major new milestone by landing its Super Heavy booster in the Gulf of Mexico. SpaceXOn its next flight, SpaceX might attempt to catch the Super Heavy booster with giant "chopsticks" on its Texas launch tower.

Persons: —, Elon Musk's, Musk, Starship Organizations: Service, Super, Business, SpaceX, Starship, Starship's, of, NASA Locations: Gulf, Mexico, SpaceX's, Texas, Gulf of Mexico, Boca Chica , Texas

☆ Oil prices gain for second day as hopes for September interest rate cut rise
▼ + stars: | 2024-06-06 | by ( Spencer Kimball | ) www.cnbc.com time to read: +2 min

Crude oil futures rose for a second day Thursday as weak jobs data has boosted investor that the Federal Reserve will cut interest rates this year. Separately, the European Central Bank trimmed its interest rates for the first time since 2019. Lower interest rates bring the hope of more robust economic growth and stronger oil demand. Moreover, rising oil inventories are expected to shift to draws in the third quarter with the OPEC+ cuts remaining in place at least until October, according to JPMorgan. "We think oil markets have overreacted to the mildly negative OPEC+ meeting outcome," Barclays analyst Amarpreet Singh told clients in a Thursday note.

Persons: payrolls, Tamas Varga, PVM, Amarpreet Singh Organizations: Federal Reserve, European Central Bank, JPMorgan, Barclays Locations: West, Iraan , Texas, U.S, OPEC, Saudi Arabia, Russia

☆ Young job seekers are finding it tougher to find employment, despite a bustling labor market: 'It was brutal'
▼ + stars: | 2024-06-06 | by ( Jeff Cox | ) www.cnbc.com time to read: +9 min

Larock's experience comes at a time when, at least on the surface, the jobs market has continued to glide along. But worries are growing that the labor market is beginning to show cracks. Welcome to the good news-bad news labor market, where the collective experience is positive but not as much for individuals in particular groups. "But the bad news is that new entrants to the labor market are faring less well," Peng added. While Peng characterized the jobs market as "strong overall," she said there are "soft soft spots" that are particularly hitting "new entrants to the workforce."

Persons: Samantha McCloud, Victoria Garcia, Jessel Rincon, Irfan Khan, Julianna Larock, Larock, Jacqueline Novogratz, Michael Novogratz, Julianna LaRock, nonfarm, It's, Goldman Sachs, Elsie Peng, Peng, Molly Huang, it's, Huang, David Pakula, Cory Stahle, Joanie Bily, Bily, grads, Ethan Mariano, Mariano Organizations: Temple City High School, Los Angeles Times, Investment Partners, University of Delaware, Fordham, Bureau of Labor Statistics, Goldman, Penn State University, Vanguard, Gettysburg College, American University, State Department Locations: Temple City , CA, Wilmington , Delaware, New York City, New York, Horsham , Pennsylvania, U.S, Washington ,, Hazleton , Pennsylvania

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