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☆ Apple and Meta powered the Nasdaq's sizzling rally in July, helping the tech-heavy index wrap up a 5-month winning streak
▼ + stars: | 2023-08-01 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +2 min

Apple and Meta stocks have been the key drivers of the Nasdaq 100's July rally. Investor excitement around AI still remains high, helping fuel a sizzling rally in tech stocks. Apple and Meta stocks have surged about 51% and 165%% year-to-date, respectively, with the latter's stunning gains helping boost CEO Mark Zuckerberg's fortunes to $120 billion this year. The two stocks helped fuel the Nasdaq 100's 3.81% advance through July, taking its year-to-date rally to almost 44%. The rally in tech stocks has even taken market bulls by surprise, including Morgan Stanley's Mike Wilson.

Persons: Mark Zuckerberg's, OpenAI's ChatGPT, Morgan Stanley's Mike Wilson, Wilson Organizations: Apple, Nasdaq, Service, Twitter Locations: Wall, Silicon

That includes 2021, 2006 and 2005, where severe drought gripped 18-21% of U.S. corn in late July. U.S. corn in drought July 25This same week in 2006 featured the largest moderate drought expanse in the Corn Belt after 2023 at 46% coverage, followed by 38% in 2005 and 36% in 2021. But it is interesting that corn yields landed close to trend in those five years. Some 4% of spring wheat is in severe drought, the first trace of severe drought since April. North Dakota’s spring wheat yield reached a record 50 bpa in 2022 despite fears that delayed planting would be limiting.

Persons: North, Karen Braun, Matthew Lewis Organizations: U.S . Drought Monitor, Agriculture, Reuters, Thomson Locations: NAPERVILLE , Illinois, U.S, North Dakota, North

☆ Heat Is Costing the U.S. Economy Billions in Lost Productivity
▼ + stars: | 2023-07-31 | by ( Coral Davenport | More About Coral Davenport | ) www.nytimes.com time to read: +1 min

As much of the United States swelters under record heat, Amazon drivers and warehouse workers have gone on strike in part to protest working conditions that can exceed 100 degrees Fahrenheit. On triple-digit days in Orlando, utility crews are postponing checks for gas leaks, since digging outdoors dressed in heavy safety gear could endanger their lives. Even in Michigan, on the nation’s northern border, construction crews are working shortened days because of heat. Now that climate change has raised the Earth’s temperatures to the highest levels in recorded history, with projections showing that they will only climb further, new research shows the impact of heat on workers is spreading across the economy and lowering productivity. Extreme heat is regularly affecting workers beyond expected industries like agriculture and construction.

Organizations: United Locations: United States, Orlando, Michigan

☆ Champions United States held 1-1 by Dutch in World Cup thriller
▼ + stars: | 2023-07-27 | by ( Amy Tennery | ) www.reuters.com time to read: +3 min

The Dutch struck first through a fine shot from midfielder Jill Roord in the 17th minute and the U.S. went in at halftime trailing in a World Cup match for the first time since 2011. The Americans had not drawn a World Cup match since 2015 and will rue a slow start to the game as well as an inability to take their chances at the end. "What you saw in the second half is what you're going to see going forward as a baseline." But after the second half, that's what we wanted because the U.S. were really strong." Reporting by Amy Tennery in Wellington, editing by Nick MulvenneyOur Standards: The Thomson Reuters Trust Principles.

Persons: Yoshimi Yamashita, Lindsey Horan, Danielle van de Donk, Amanda, Read, Jill Roord, Horan, Rose Lavelle, Daphne van Domselaar, Vlatko Andonovski, Andries Jonker, Lieke Martens, Victoria Pelova, Alyssa Naeher, Trinity Rodman, Van Domselaar, Dominique Janssen, Striker Morgan, Ertz, Brugts's, Rodman, Sophia Smith, Martens, Amy Tennery, Nick Mulvenney Organizations: Soccer Football, FIFA, Wellington Regional, Danielle van de Donk REUTERS, Dutch, Portugal, U.S, Thomson Locations: New Zealand, States, Netherlands, Wellington , New Zealand, WELLINGTON, United States, U.S, Vietnam, Dutch, Wellington

☆ Why I’m Rooting for Haiti
▼ + stars: | 2023-07-26 | by ( Kurt Streeter | More About Kurt Streeter | ) www.nytimes.com time to read: +1 min

If you’ve read this column regularly over the last few years, my rooting interests should be clear by now. The players and teams who toil hard for the simple chance, however slim, of winning. With the Women’s World Cup now in full flight, most attention has gone to the venerable teams like France, Brazil and Germany. Hats off to all those teams, each talent-blessed and well-funded by their national soccer federations and by business conglomerates. But through the early goings of this year’s group stage, with eight teams making their World Cup debuts, long shots have been having their moments.

Persons: Alex Morgan, Megan Rapinoe Organizations: United, Zealand Locations: France, Brazil, Germany, United States, Philippines, Nigeria

☆ Popp doubles down as Germany maul Morocco 6-0
▼ + stars: | 2023-07-24 | by ( Ian Ransom | ) www.reuters.com time to read: +3 min

MELBOURNE, July 24 (Reuters) - Talismanic captain Alexandra Popp scored a brace as Germany launched their bid for a third Women's World Cup title with a 6-0 demolition of debutants Morocco on Monday. I look forward to the next match, but today we want to be happy with what we did today. "As it stands we came across a team which was superior to our own -- David and Goliath," said Morocco coach Reynald Pedros. Whirling around in the box, Popp scored again in the 39th minute, Buehl's corner pinging off the back of her head. Lea Schueller completed the rout a minute before stoppage time, smashing in the sixth goal after team mate Lena Lattwein's attempt careened off the keeper.

Persons: Alexandra Popp, Popp, Klara Buehl, Lea Schueller, Martina Voss, Tecklenburg, Lionesses, David, Goliath, Reynald Pedros, Khadija Er, Ghizlane Chebbak, Merle Frohms, Lina Magull, Hanane Ait, Hanane Ait El Haj, Zineb Redouani, Lena Lattwein's, Ian Ransom, Christian Radnedge Organizations: MELBOURNE, Germany, Melbourne, Colombia, South, Thomson Locations: Morocco, Germans, South Korea, Sydney, Germany, Moroccan, Qatar, Hanane Ait El, Melbourne

☆ MLB roundup: Shohei Ohtani hits 36th homer as Angels beat Pirates
▼ + stars: | 2023-07-24 | by ( ) www.reuters.com time to read: +11 min

Devers capped the scoring by hitting a solo home run -- his 24th homer of the season -- in the seventh inning. New York's Carlos Carrasco (3-4) allowed five runs on 10 hits in 2 1/3 innings (58 pitches). Yankees 8, Royals 5Anthony Rizzo hit his first homer in over two months and collected a season-high four hits as host New York beat Kansas City. He yielded those four runs on six hits and struck out six in six innings to pick up the win. Oakland's Luis Medina was pulled after five innings, having given up just one run on two hits.

Persons: Shohei Ohtani, Kiyoshi Mio, Ohtani, Luis Rengifo, Andrew Velazquez, Rengifo, Tyler Anderson, Carlos Estevez, Carlos Santana, Jacob Webb, Bryan Reynolds, Rafael Devers, Adam Duvall, Devers, Connor Wong, Chris Murphy, Carlos Carrasco, Brandon Nimmo, Alex Faedo, Faedo, Alex Lange, Spencer Torkelson, Andy Ibanez, Joe Musgrove, Gary Sanchez, Anthony Rizzo, Gleyber Torres, Jordan Lyles, Torres, Salvador Perez, Michael Massey, Luis Severino, MacKenzie Gore, Riley Adams, Gore, Lane Thomas, Joc Pederson, Scott Alexander, Bryce Harper, Aaron Nola, Gregory Soto, Craig Kimbrel, David Fry, Harper, Johan Rojas, J.T, Realmuto, Trea Turner, Alec Bohm, Bryson Stott, Jake Fraley, Fraley's, Spencer Steer, Steer, Christian Encarnacion, Strand's, Derek Law, Arizona's Tyler Gilbert, Gunnar Henderson, Ryan O'Hearn, Mike Baumann, Yennier Cano, Felix Bautista, Wander Franco, Yandy Diaz, Luis Arraez, Arraez, Pierce Johnson, Jesus Luzardo, Randal Grichuk, Brenton Doyle, Ozzie Albies, Michael Harris II, Ronald Acuna Jr, Albies, Elvis Peguero, Daysbel Hernandez, Ryan Jeffers, Kyle Farmer, Emilio Pagan, Zach Remillard, Eloy Jimenez, Cody Bellinger, Jameson Taillon, Louis, Bellinger, Dylan Carlson's, Louis ' Jordan Montgomery, Nolan Arenado, Jonah Heim, Leody, Brad Miller, Ezequiel Duran, Martin Perez, Emmet Sheehan, Mauricio Dubon, Houston's Hunter Brown, Oakland's Luis Medina, Yainer Diaz, JJ Bleday, Jordan Diaz, Santiago Espinal, Vladimir Guerrero Jr, Mike Ford Organizations: Los Angeles Angels, Pittsburgh Pirates, Angel, Angels, Los Angeles, Pittsburgh, The Pirates, Pirates . Red Sox, Mets, Boston, New, Tigers, Padres, Detroit, San, Yankees, Royals, New York, Kansas City, Nationals, Giants, Washington, Phillies, Philadelphia, Cleveland, Reds, Diamondbacks, Cincinnati, Orioles, Rays, Baltimore, Tampa, American League East, Marlins, Miami, Rockies, Braves, Brewers, Atlanta, White Sox, Minnesota, Twins, Chicago, Cubs, Cardinals, St, Rangers, Dodgers, Texas, Astros, Athletics, Houston, Oakland, Blue Jays, Mariners, Toronto, Seattle, Brandon Belt, Thomson Locations: Anaheim , California, USA, Anaheim , Calif, New York, San Diego, Diego, San Francisco, Cleveland, Philadelphia, Arizona, St . Petersburg, Fla, Colorado, Milwaukee, Chicago, Minneapolis, Minnesota, Atlanta, York, Los, Arlington , Texas, Texas

[1/5] A Domino's staff member stands next to a sign for a 49-rupee pizza at a restaurant in Noida, India, July 4, 2023. A: With the world's cheapest Domino's pizza. "You are coming to the store or open the app, because there is a 49-rupee callout," he said, adding that Domino's global team supported the plans. Domino's global HQ referred queries about India to its local franchisee. When Khetarpal visited Domino's stores in Chennai and other cities, he said he saw customers emptying out their pockets and only being able to scrape together 49 rupees.

Persons: Adnan Abidi, Sameer Khetarpal, Khetarpal, Merrill Pereyra, They'll, Akshay Jatia, Westlife, It's, Devanshu Bansal, Kiran Raj, Praveen Paramasivam, Aditya Kalra, Saurabh Sharma, Jatindra, Brenda Goh, Hilary Russ, Abhirup Roy, Miyoung Kim, Pravin Organizations: REUTERS, U.S, India, Sapphire Foods, Domino's, Burger King's, Restaurant Brands, Euromonitor, Yum Brands, Global Financial Services, Pravin Char, Thomson Locations: Noida, India, CHENNAI, DELHI, America, Shanghai, San Francisco, Burger, zeroing, Pizza, New Delhi, Chennai, Burger King's India, United States, U.S, Lucknow, Bhubaneswar, New York, Singapore

☆ Opinion: ‘A nasty smell that lingers in the nostrils.’ What it’s really like inside Italy’s hellish heatwave
▼ + stars: | 2023-07-18 | by ( Opinion Silvia Marchetti | ) edition.cnn.com time to read: +6 min

But this year the usual “solleone” (an Italian term used to indicate the hottest summer days) is overwhelming. The dizzying heat is expected to peak early this week, with temperatures climbing above 45 degrees Celsius (113 Fahrenheit). It’s not just Italy suffering, with the giant oven of hot air blasting other parts of southern Europe, like Greece and Spain. Experts are warning temperatures might even break the continent’s record of 48.8 degrees Celsius (118.4 degrees Fahrenheit), set two years ago. A sign outside a pharmacy in Rome displays 45 degrees Celsius (118.4 degrees Fahrenheit) temperatures as Italy -- and southern Europe -- braces for even higher numbers this week.

Persons: Silvia Marchetti, Read, it’s, Silvia Marchetti Silvia Marchetti, It’s, Guglielmo Mangiapane, –, Riccardo De Luca, ’, Dante, I’ve Organizations: CNN, Italy CNN, Anadolu Agency, Twitter, Facebook, Housewives Locations: Rome, Capena, Italy, Europe, Greece, Spain, Italian, Roman, UAE

☆ US heatwave: high temperatures forecast, northeast braces for rain
▼ + stars: | 2023-07-16 | by ( Brad Brooks | ) www.reuters.com time to read: +3 min

[1/6] Agricultural worker Ernesto Hernandez takes a water break while enduring high temperatures in a tomato field, as a heat wave affects the region near Winters, California, U.S. July 13, 2023. The heat warnings spread from the Pacific northwest, down through California, through the Southwest and into the Deep South and Florida. Temperatures of over 115 Fahrenheit (46 Celsius) are forecast for areas of southern California's high desert, along with Arizona and Nevada. The NWS said widespread record-breaking high temperatures are likely to be recorded across the Southwest, in the western Gulf Coast and also in south Florida. "The combination of sizzling temperatures and oppressively high dew points will result in sultry heat throughout theSouth into the upcoming week," the NWS wrote.

Persons: Ernesto Hernandez, Loren Elliott, Brad Brooks, Josie Kao Organizations: REUTERS, National Weather Service, NWS, U.S . Census, Weather Service, Thomson Locations: Winters , California, U.S, New England, California, Florida, Arizona, Nevada, Gulf Coast, Pacific, New York, Boston, Philadelphia, Upper Makefield Township, Pennsylvania, Vermont, Montpelier, Mississippi, Texas, Arkansas, Louisiana, Gulf, Lubbock , Texas

☆ US weather: flash floods in the northeast, heatwave intensifies
▼ + stars: | 2023-07-16 | by ( Brad Brooks | ) www.reuters.com time to read: +4 min

The NWS said the northeast could experience impassable roadways, tornadoes and even mudslides in some areas of higher terrain. Flooding inundated the northeast in recent days, with Vermont in particular reporting catastrophic flooding in its capital Montpelier, which is under a flash flood warning again on Sunday. HEAT WARNINGS FOR A QUARTER OF AMERICANS[1/10]A man takes picture of a digital sign displaying the high temperature, in Death Valley, California, U.S. July 15, 2023. REUTERS/Jorge GarciaThe heat warnings spread from the Pacific northwest, down through California, through the Southwest and into the Deep South and Florida. The NWS said widespread record-breaking high temperatures are likely to be recorded across the Southwest, in the western Gulf Coast and also in south Florida.

Persons: Kathy Hochul, Jorge Garcia, Brad Brooks, Josie Kao Organizations: National Weather Service, NWS, Sunday, REUTERS, U.S . Census, Thomson Locations: England, New England, New York, Boston, Philadelphia, Upper Makefield Township, Pennsylvania, Vermont, Montpelier, Mississippi, Texas, Arkansas, Louisiana, Gulf, Death Valley , California, U.S, California, Florida, Arizona, Nevada, Gulf Coast, Pacific, Lubbock , Texas

CNN —Italian authorities have issued an “extreme” health risk for 15 cities including Rome and Florence this weekend as a heatwave that is baking Europe threatens to bring record temperatures. The ESA warned that Europe’s heatwave has only just begun with Spain, France, Germany and Poland also expected to see extreme weather, just as the continent welcomes an influx of tourists. In the south, temperatures in the cities of Seville, Cordoba and Granada have reached 40 degrees Celsius, or 104 degrees Fahrenheit. Meanwhile, even the normally mild region of Navarra in the north is seeing up to 40 degrees Celsius. Heat is one of the deadliest natural hazards – more than 61,000 people died in Europe’s searing summer heat wave last year.

Persons: ”, Remo Casilli, Guglielmo Mangiapne, it’s, – Organizations: CNN, European Space Agency, ESA, Roman, Piazza del Popolo, Reuters, Local, Italian Meteorological Society Locations: Rome, Florence, Europe, Sicily, Sardinia, “, Spain, France, Germany, Poland, Piazza, Reuters Greece, Athens, Italy, Seville, Cordoba, Granada, Mallorca, Navarra

CNN —A blistering and deadly heat wave is sweeping Europe, potentially bringing record-breaking temperatures. Parts of Spain, France, Greece, Croatia and Italy are all facing intense heat, with temperatures rising above 40 degrees Celsius (104 Fahrenheit). Heat is one of the deadliest natural hazards – more than 61,000 people died in Europe’s searing summer heat wave last year. Sardinia and Sicily are expected to be close to the current European temperature record of 48.8 degrees Celsius (nearly 120 Fahrenheit), according to the ESA. Temperatures were expected to stay around 40 degrees Celsius (104 Fahrenheit) across the region into next week.

Persons: –, Antonio Masiello, Florence –, Alessandro Miani, SIMA, Italy “, rvoje Organizations: CNN, European Space Agency, ESA, Italian Meteorological Society, Piazza del Popolo, Italian Health Ministry, Italian Society of Environmental Medicine, RAI, Greek Culture Ministry, Police, Canadair, Reuters Locations: Europe, Spain, France, Greece, Croatia, Italy, Sardinia, Sicily, Rome, Lodi, Athens, Grebastica, Sbenik, Sibenik

☆ Europe sizzles as a heatwave sweeps the continent, pushing temperatures close to record levels
▼ + stars: | 2023-07-13 | by ( Sam Meredith | ) www.cnbc.com time to read: +2 min

The record for the highest temperature in European history was broken in August 2021, when 48.8C was registered in Floridia, a town in Italy's Sicilian province of Syracuse. In Italy, meanwhile, temperatures could soon reach as high as 48 degrees Celsius on the islands of Sardinia and Sicily. Scientists at the European Space Agency said that record could be broken again in the coming days. The Italian Meteorological Society (SMI), meanwhile, told CNBC that it was not yet possible to forecast whether Europe's temperature record would soon be equaled or surpassed. Researchers say global heating is strongly increasing the odds of heatwaves such as the one currently sizzling in countries across Europe.

Persons: 48.8C Organizations: European Space Agency, Italian Meteorological Society, CNBC Locations: Tempio Pausania, Sardinia, Italy, Floridia, Italy's Sicilian, Syracuse, Europe, Spain, France, Greece, Croatia, Turkey, Sicily, Rome, Florence, Bologna

MONTPELIER, Vermont, July 11 (Reuters) - A Vermont reservoir threatened to overwhelm a dam protecting the state's capital on Tuesday and exacerbate "catastrophic" flooding that has already shut roadways leading out of town and trapped people in their homes. The North Branch converges with a second, larger branch of the Winooski near the Vermont statehouse. "Make no mistake, the devastation and flooding we're experiencing across Vermont is historic and catastrophic," Vermont Governor Phil Scott said at a briefing Tuesday. [1/8]People paddle a kayak down a street flooded by recent rain storms in Montpelier, Vermont, U.S., July 11, 2023. The city's topography - bordered by hills with the downtown in a valley - increases the potential for flooding, Montpelier City Council member Conor Casey said.

Persons: Phil Scott, William Fraser, Brian Snyder, Jack McCullough, McCullough, Mike Cannon, Irene, Conor Casey, Casey, Janet Boyd, Boyd, Brendan O'Brien, Rich McKay, Rachel Nostrant, Daniel Trotta, Devika Syamnath, Bill Berkrot, Sandra Maler Organizations: Branch, National Weather Service, Vermont statehouse, REUTERS, CNN, Thomson Locations: MONTPELIER , Vermont, Vermont, Montpelier, United States, Florida , Texas, California, U.S, New York , Massachusetts, Connecticut, Montpelier City, Montpelier , Vermont, New England, Wilmington , Vermont, Chicago, Atlanta

☆ Tesla stock's sizzling rally won't last as old-guard rivals like Ford and GM pile into the EV space, analyst says
▼ + stars: | 2023-06-30 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

Tesla's sizzling rally won't last forever due to old-guard rivals like Ford producing more EVs, according to one analyst. The tech giant's shares have soared 109% in 2023 thanks to a breakneck rally since late April. But some of Wall Street's biggest names – including Goldman Sachs and Morgan Stanley – are warning the stock now looks overvalued. Tesla's stock has soared 109% in 2023, on track for the biggest six-month gain since 2020. Read more: Tesla stock's best run since 2020 is spoilt by Wall Street downgrades as Goldman Sachs, Morgan Stanley flag overvaluation risks

Persons: Tesla's, Goldman Sachs, Morgan Stanley –, —, Craig Irwin, I've, you've, – Ford, General Motors, that's, Tesla, Musk, Linda Yaccarino, Morgan Stanley, Irwin Organizations: Service, ROTH Capital Partners, Elon, Ford, GM ramping, Yahoo Finance, General, Big Tech, EV, Barclays, Yahoo, Tesla Locations: Wall

☆ Extreme heat means two-thirds of North America could suffer blackouts this summer
▼ + stars: | 2023-06-26 | by ( Matt Egan | ) edition.cnn.com time to read: +4 min

Periods of extreme heat stress the grid by spiking demand for electricity as families and businesses crank up the air conditioning to stay cool. Power grid officials have warned that large swaths of the United States could face blackouts if it’s a hot summer. “Two-thirds of North America is at risk of energy shortfalls this summer during periods of extreme demand,” the North American Energy Reliability Corporation (NERC) concluded in its summer outlook published last month. The risk of blackouts comes into play only if there is extreme heat. But many Americans in the South and Central regions of the United States are dealing with extreme heat right now.

Persons: NERC, ” NERC Organizations: New York CNN Business, North American Energy Reliability Corporation, National Oceanic, Atmospheric Administration, US Energy Information Administration Locations: United States, North America, Mississippi, Central, Texas . New England, Ontario, “, South, Arizona, Alabama, West Texas, Pacific Northwest, Southwest , Texas, Southeast, Texas, Nevada , Utah, Gulf Coast

☆ Beijing braces for extreme heat for third straight day
▼ + stars: | 2023-06-24 | by ( ) www.cnbc.com time to read: +1 min

A woman fans herself while resting in the shade in an alley during a heatwave in Beijing on June 23, 2023. Beijing on Saturday maintained its hot weather alert at "red," the most severe in China's color-coded warning system, with the Chinese capital expected to cross the 40 degrees Celsius (104F) threshold for a third straight day. Nearby provinces including Hebei and Shandong also kept their "red" alerts on Saturday as vast tracts of northern and eastern China sizzled in record temperatures. In China's four-tier weather warning system, the color red indicates the most severe, followed by orange, yellow and blue. On Friday, Beijing baked in temperatures as high as 40.3C, after sizzling at 41.1C on Thursday, the second-hottest day recorded by the Chinese capital in modern times.

Organizations: Saturday Locations: Beijing, Hebei, Shandong, China, 41.1C

☆ These are the most-loved Club stocks on Wall Street. Here’s where we stand
▼ + stars: | 2023-06-23 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +7 min

HAL YTD mountain Halliburton's year-to-date stock performance. AMZN YTD mountain Amazon's year-to-date stock performance. GOOGL YTD mountain Alphabet's year-to-date stock performance. That's lagged many other large-cap tech peers over the same stretch, including Club stock Nvidia (NVDA), which climbed 11%, and Adobe (ADBE), which advanced 10%. PANW YTD mountain Palo Alto Networks' year-to-date stock performance.

Persons: It's, hasn't, it's, Halliburton, We're, we'd, it'd, what's, we're, Linde, Jim Cramer's, Jim Cramer, Jim, Pat Carter Organizations: Halliburton, HAL, Linde, LIN, Palo Alto Networks, Wall, Club, Coterra Energy, Federal, Amazon, Amazon Web, Microsoft, Nvidia, Adobe, Networks, CNBC, Getty Locations: Thursday's, Palo, U.S, Europe, Stillwater , Oklahoma

☆ Suodiu: "Suck and dispose" pebble dish is latest street food trend in China
▼ + stars: | 2023-06-22 | by ( Chris Lau | ) edition.cnn.com time to read: +2 min

Hong Kong CNN —Dubbed “the world’s hardest dish” – literally – a traditional stir-fry featuring stones as its key ingredient has sparked culinary curiosity on Chinese social media. Patrons are supposed to suck on the small rocks to relish the rich and spicy flavor of the dish, which originated in the eastern Chinese province of Hubei. They are instructed to suck off the flavors, then spit out the rocks – hence the dish’s name suodiu, meaning “suck and dispose.”Videos of internet users sampling suodiu have sprung up all over Chinese social media platforms over the past week. They also show how street vendors cook up the unusual dish. To “find happiness in the bitterness,” the report said, they would find stones to cook with other condiments to make a dish.

Persons: Hong Kong CNN —, Suodiu Organizations: Hong Kong CNN Locations: Hong Kong, Hubei

☆ Bull market or fool's market? Investors say the latter
▼ + stars: | 2023-06-18 | by ( Krystal Hur | ) edition.cnn.com time to read: +10 min

Mega-cap tech stocks that were battered by rising interest rates in 2022 have also seen a huge boost this year. The Federal Reserve on Wednesday held interest rates steady but indicated that it could hike rates twice more this year. Tech stocks’ record runApple shares closed at a record high on Thursday, creeping closer to reaching a $3 trillion market capitalization. The rally’s next testDespite some bullish signs in the market, investors say the math isn’t adding up to a sustained rally — especially considering a possible recession looms on the horizon. The central bank last Wednesday paused interest rates and indicated that it could raise rates two more times this year.

Persons: Dow, ”, Amanda Agati, Wednesday’s, Stocks, Joe Biden, Dan Ives, “, ” Ives, Richard Steinberg, Jerome Powell, Agati, Sylvia Jablonski, Christopher Waller, Thomas Barkin, ” Waller, Sarah Henry, Henry, Here’s, Price, Refinitiv, Paul Eitelman, ” Eitelman Organizations: CNN Business, Bell, New York CNN, Apple, Nasdaq, PNC Financial Services, Management, “, Federal Reserve, Nvidia, Wedbush Securities, Microsoft, The Colony, Treasury, ”, Federal, Richmond Fed, Logan Capital Management, CPI, PPI, University of, Consumers, North America, Russell Investments, Wednesday, National Association of Realtors, Senate Locations: New York, what’s, Oslo

☆ China's southern cities call for power saving as grid stress increases
▼ + stars: | 2023-06-13 | by ( ) www.cnbc.com time to read: +1 min

Industrial and oil refining cities in southern China are urging firms and citizens to curb electricity, while Hainan province called for less power usage at peak times, as grids become more stressed due to persistent searing hot weather. Southern China has been beleaguered by a combination of sizzling hot temperatures and heavy rainfalls in recent weeks, with power loads in several cities approaching historic highs due to soaring demand for air-conditioning. The oil refinery city, whose power load broke records three times as of Monday, asked industrial firms to actively reduce power consumption and strengthen power-saving technology transformation. It also suggested that state-owned firms, residents and commercial venues set cooling temperatures to no less than 26 degrees Celsius (79 degrees Fahrenheit), according to the statement. Jiangmen, another industrial city in Guangdong, is also proposing to cut unnecessary power usage amid the power consumption peak.

Locations: China, Hainan, Southern China, Maoming, Guangdong

☆ Cramer's Lightning Round: Sell ImmunoGen and take the gain
▼ + stars: | 2023-06-09 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Stock Chart Icon Stock chart icon Immunogen's year-to-date stock performance. ImmunoGen : "Yeah, it had a good read out at the ASCO conference, we've been waiting for that cancer drug to pay off, and it actually did. Stock Chart Icon Stock chart icon Ameriprise's year-to-date stock performance. Stock Chart Icon Stock chart icon inTest's year-to-date stock performance. Stock Chart Icon Stock chart icon Southern Co.'s year-to-date stock performance.

Persons: we've, I've Organizations: Southern, Southern Co

☆ Yes, you can have a red-hot jobs market and a recession
▼ + stars: | 2023-06-05 | by ( Jeff Cox | ) www.cnbc.com time to read: +6 min

The U.S. jobs market is still sizzling and the economy is heading for a recession: Both things can be true. May's nonfarm payrolls growth again stunned Wall Street, with the count climbing by 339,000, well ahead of Wall Street estimates that have consistently undershot the report since January 2022. However, there's an old adage on the Street that when it comes to recessions, the jobs market is always the last to know. Central bank policymakers specifically have targeted a slowdown in the labor market in their quest to bring down inflation. The weak services reading comes with an ISM manufacturing reading — most recently at 46.9 — in contraction for seven straight months.

Persons: Ian Shepherdson, Shepherdson, Kumar, Andrew Hunter, Hunter, DataTrek, Nicholas Colas Organizations: Federal, Pantheon, Fed, Sri, Kumar, Services, Capital Economics, Research, Atlanta Locations: payrolls

☆ The 5 largest mega-cap stocks are responsible for most of the rally in the S&P 500 this year - but the market can still gain if Big Tech fades
▼ + stars: | 2023-05-31 | by ( Carla Mozée | ) www.businessinsider.com time to read: +3 min

Apple, Nvidia, Alphabet, Microsoft and Amazon have fronted the S&P 500's advance so far in 2023. But if the rally in those mega-caps fades, the market can still post gains, said BMO Capital MarketsAlso, narrow market breadth generally "does not represent a bad omen for S&P 500 performance." In the 12 months afterward, the S&P 500 climbed an average of 22.2%. Six months out, the S&P 500 was up more than 12%, and 12 months out, it had tacked on 43.6%. "Our work shows that the S&P 500 index recorded a 13.2% annualized price return during these periods of narrowing market breadth with the only loss coming in 2001-2003," he wrote.

Persons: —, peters, ChatGPT, Brian Belski, Belski Organizations: Apple, Nvidia, Microsoft, BMO Capital Markets, Service, Amazon, BMO

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